Business / Economic / Financial
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2010: The Year of Reflation The Housing Time Bomb ‘ Since it looks like the holiday trade is on, I thought I would look back and see how various sectors performed in 2010: [chart] (Click to enlarge)
My Take: If you were an inflationist you did pretty darn well last year. Commodities were clearly the play of the year. I find it kinda funny to look at the S&P 500 performance relative to other investment options.CNBC would love to make you believe that buying stocks was and always is the best thing to do. As you can see above, this was clearly not the case in 2010. Ironically, bonds gave a lot back since November when the Fed started it's brilliant QE strategy.You can thank the Fed's reckless policies (along with lots of Chindians) for the commodity run. The dollar has held up well as of late as a result of the European debt fiasco but it's clearly evident above that the market believes inflation is coming.If you were a deflationist in 2010 you pretty much got slaughtered. The classic deflation trade is to go short stocks and energy and go long the dollar and bonds. So much for that idea in 2010.Personally, I was pleased with my year for the most part. I did well with gold and silver. My bond funds did well thanks to PIMCO. I lost a little on some short hedges but I was glad I owned them when we dipped this summer. My cash didn't do anything thanks to low rates. In fact, I probably lost money from an inflation adjusted standpoint but that's OK. The security of knowing it's there is invaluable from my perspective at this point in the game.
Where Do We Go From Here? This is the million dollar question. I will touch on this today but stay tuned for a THTB Top 10 prediction list for 2011. I see this done a lot and i liked it, so I figured I would give it a shot.I think a lot of what happens in 2010 will come down to the Fed, the bond market, and politics. I think Obama put himself in a bad spot by passing the tax cuts. I say this because Washington DC is going to change drastically starting next year. The House and the Senate will both be filled with several new tea partying Republicans who are going to want to cut spending. As the deficit worsens we will see increasing pressure to do something to stop it.This is going to lead to job cuts and other austerity measures beginning in 2011. I don't expect anything drastic but it will start nonetheless. Obama is going to end up looking bad when the Republicans start cutting because the middle class are the ones who are going to feel the pain. Obama will then get painted the President who gave the middle class the shaft after giving tax cuts to the rich. This will be a political nightmare for him down the line and ironically I think the left may hate on him on this issue as much as the right does.
The Bottom Line We have clearly reached a fork in the road when it comes to the markets and the economy. Unemployment remains high and is getting worse. Our deficit is on the verge of not being manageable as bond yields continue to rise.Stocks have priced in a strong 2011 recovery which I don't think is going to happen. I can't see any material recovery without a nice uptick in jobs. The only reason we had a recovery this year was because the government was willing to put it on it's credit card. The economy would have been miserable this year without their handouts.The Fed would love to rinse and repeat the same thing this year which is why we got QE2. The problem with this idea is the Fed now has the bond market to deal with. They aren't too keen on this idea. They are becoming increasingly worried about our deficits because they see no recovery that can pull us out of this mess.The Fed doesn't see the recovery either. If they did then they would have never pushed the QE2 button. Bernanke knows this can't work but he did it anyway because there was no other option. The after shocks are still being felt from our "printing" announcement. Bonds have collapsed and commodities have soared ever since.This is going to be felt down the line by stocks as increased costs hurt margins. Remember: Oil remains stubbornly high and you need oil to make pretty much everything in our economy. The bottom line is, I expect lower stock prices in our future as the market realizes that the great 2011 recovery was nothing but a pipedream.
CPI Indicating a Market Turning Point Is at Hand? Jin ‘Wednesday, the CPI for November 2010 was released. The headline CPI increased by 1.1% over November 2009. The core CPI increased by 0.8% over the same month in 2009. Both readings are well below the Federal Reserve’s long term target inflation rate of 2%, reinforcing the Fed’s worrying about deflation rather than inflation. And worry it should, the Fed. QE2 has not shown any success in its intended impact of improving employment and lifting inflation in the U.S. But China and a large part of emerging economies have already felt the heat. Nearly all commodities have seen their prices rise sharply in the past two months. The latest CPI growth rate from China is 5.1%, the highest in over two years. The Fed might have had this scenario in mind when the FOMC decided to implement QE2 last November. In addition to stimulating business investment in the U.S., QE2 causes inflation to rise in emerging economies, which implicitly reduces the cost advantage enjoyed by those regions. The idea then, is that the imbalance between the U.S. and emerging economies could be somehow corrected. However, as the global supply chain is tightly integrated today, the U.S. may have to bear the costs of QE2 before the benefits are felt. The reason is simple. So far, commodity prices reacted much more strongly to QE2 than CPI in the U.S. The pace of commodity price appreciation is so fast that the adjustment in the global supply chain has not occurred yet. U.S. corporations have already seen their input price hiking. However, since unemployment rates have stayed above 9% for nearly 20 months now, consumer prices in the U.S. have little room to increase further. As companies cannot pass the higher costs of raw materials to final consumers, in the short term, there are two likely results: The first result is that corporations will have to cut their profit margins since they cannot fully pass their increased costs to consumers. Lower profit margin means less incentive to invest and expand. Another result is to cut other costs (mainly labor costs) to offset rising materials prices. Cutting labor cost will reduce wages, increase unemployment and then put more pressure on consumers. Both results spell trouble for the whole economy and the stock market. Historical data has proven the above point. The following chart presents the monthly S&P 500 Index and the growth rate of U.S. core CPI minus the growth rate of the Import Price Index from China to the U.S. Since China is often the last step in the supply chain- in assembling and shipping goods to the U.S.- the growth rate of the Import Price Index from China could measure the production costs of U.S. companies (a better measurement than PPI in the U.S.). Click to enlarge: [chart] The chart shows that the S&P 500 largely lagged the growth rate of core CPI ex the growth rate of import prices from China. More importantly, whenever the core CPI ex-import price moved across zero, a major turning point of the stock market happened in a very short period thereafter or even at the same time. The import price index from China has only been available since December 2003. In the past seven years, the growth rate of core CPI ex-import price from China has only moved across zero twice. It first fell below zero during the period between the end of 2007 and the beginning of 2008. The S&P 500 index reached its peak during that period. Then, the rate rose above zero at the beginning of 2009. One month later, the S&P 500 index touched the bottom. After the CPI release Wednesday, the growth rate of core CPI ex-import price is now at 0.4%, continuing its downward trend. Given rising inflation expectations in China and the danger of deflation in the U.S. right now, that rate is falling below zero again. Companies will bear the increasing costs and see their profits fall. Is the next turning point for the stock market right in front of us now?’
'Huge' stock decline — but not yet MarketWatch - Commentary: Adens … ‘mega trend’ looks grim … The Adens expect a hyperinflationary collapse … ‘
Oh come on! Manipulated dollar decline with inflated earnings, stock prices thereby, etc., … we’ve seen this all before … the last few crashes … Jobless rate jumps to 9.8% as hiring slows (Washington Post) [ The reality is not a mystery! The nation’s been thrown under the bus for the greater good (wealth) of the very few (frauds on wall street, etc.); wall street giving out record bonuses from their accomplished fraud (with no-recession b.s. bernanke help) of $144 BILLION: Come on! This is gettin’ even more downright ridiculous (if that’s even possible)! Pending home foreclosure / distress sales up, oil prices (and oil stocks) up, debased dollar down, plus a little familiar ‘better than expected’ thrown in along with prospects of a ‘no-recession bernanke’ market-frothing bull session on 60 minutes and, voila, suckers’ rally into the close to keep the suckers suckered! What’s good for the frauds on wall street is bad for just about everyone else which includes the vast majority of people and businesses, domestically and globally, as current dollar manipulation / debasement ultimately results in higher costs and loss of purchasing power (ie., oil, etc.). Clearly, this is one of those fraudulent wealth transfers to the frauds on wall street et als which will ultimately be paid for by those who least are in a position to afford it, courtesy of the ever more worthless Weimar dollar, etc., inflating earnings, eps, lowering p/e multiples, etc., see infra. This is an especially great time to sell / take profits while you can since there's much worse to come! Previous: Rosy numbers on consumer sentiment, unemployment (far better than private forecasts) from the government prior to the holiday so-called ‘shop till you drop’? How can anyone believe anything they say? Najerian interviewed by Motek chimes in with the reason for good retail cheer; viz., people have stopped paying their mortgages and are using the funds to purchase retail goods; while Davidowitz adds that with record numbers of americans on food stamps, real unemployment at 17+, and wall street giving out record bonuses from their accomplished fraud (with no-recession b.s. bernanke help) of $144 BILLION … the high end stores / jewelers will do well … daaaaah! And, with insiders and wall street frauds selling into the bubble as preceded last crash, this is an especially great opportunity to sell / take profits! Suckers’ rally on light volume, full moon, and government complicity (false data / reports) to keep suckers suckered (easy for the wall street frauds to do with just a mouse click / push of the button – and, they know all those technical trade lines that are easy to program in this current phase of the scam/fraud with the debased dollar). Keep in mind, the totally mindless blather from the ‘cottage industries’ of and fraudulent wall street itself in talking up lower P/E multiples when the same is a direct result of the debasement of the dollar and the consequent manipulation / translation (not real, see Davis, infra) which preceded the financial crisis / last crash. Unemployment, trade, deficit, etc., numbers continue decidedly worse than expected along with other negative data (and in the ‘wrong direction’, that spin accorded ‘down but not as bad as before’ b*** s*** ) yet the market has rallied like no tomorrow with used home foreclosure / distressed sales, though abated owing to ‘foreclosuregate’, the other ‘heralded’ good news. Moreover, the dumbo lemmings of Europe have jumped on the fraudulent defacto bankrupt american crazy train propelled to the precipice also as if no tomorrow. This is about keeping the suckers sucked in with the help of a market-frothing pre-election debased dollar for favorable currency translation and paper (but not real when measured in, ie., gold, etc.) profits which preceded the last crisis, inflating a bubble as in the last crisis to facilitate the churn-and-earn, particularly with computerized (and high frequency) trades and which commissions they’ll get again on the way down. There is nothing to support these overbought stock prices, fundamentally or otherwise. These are desperate criminals ‘at work’. Even wall street shill, the senile Buffett is saying we’re still in a recession (depression) [ Davis: ‘… all profits are inflated by 10% (from falling, debased dollar) and that 10% is the E that gets divided from the P and gives us a much better price/multiple to hang our hats on and that gets investors to BUYBUYBUY …’ The bull market that never was / were beyond wall street b.s. when measured in gold ] This is a great opportunity to sell / take profits (these lower dollar, hyperinflationary currency manipulations / translations to froth paper stocks will end quite badly as in last crash)! This is a global depression. This is a secular bear market in a global depression. The past up moves were manipulated bull (s***) cycles (at best) 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 ‘programmed computerized high-frequency churn and earn pass the hot potato scam / fraud as in prior crashes ( widely reported, high-frequency trading routinely accounts for more than 50% of daily U.S. equity trading volume and regularly approaches 70%. )’. This national decline, economic and otherwise, will not end until justice is served and the wall street frauds et als are criminally prosecuted, jailed, fined, and disgorgement imposed.The Stock Market's Long Decline Has Begun Smith ]
Is America the sick man of the globe? Not long ago, if you wanted steak for lunch at the Texan Restaurant, less than two minutes drive from the Nexteer Automotive assembly plant, you had to be in the door by 11 o’clock in the morning. If you arrived any later, you joined a long line with other laggards and waited for a table to open up.
Most Driven Into Debt by Medical Bills HAVE Health Insurance Most driven into debt and bankruptcy by medical bills have health insurance. For example, Reader’s Digest notes.
Chinese rush to gold as inflation fears bite While recent statistics show that China’s gold imports have risen dramatically this year, despite China itself being the world’s largest gold producer with mine production still rising to, anecdotal evidence suggests that this may just be the tip of the iceberg as Chinese people are, apparently, rushing to buy gold as an inflation hedge.
Foreclosure Activity Plunges By Record Amount In November As Fraudclosure Forces Banks To Halt Evictions The latest report from RealtyTrac indicates that, as expected, November foreclosure activity has fallen off a cliff. In November “default notices, scheduled auctions and bank repossessions were reported on 262,339 U.S. properties, a 21 percent decrease from the previous month and a 14 percent decrease from November 2009.
Crude Oil Price Targeted for $150-200/Barrel says Longtime Friend and Confidant of Two Retired Top Oil Execs During his hour-long radio interview on the Alex Jones show today, broadcast over GCNLive.com, Lindsey Williams told Alex that he’d learned recently from two of this longtime friends, both retired top executives of major oil producers, that the price of crude oil, now rising again, is slated to move to $150-200 per barrel soon.
16 Nightmarish Economic Trends To Watch Carefully In 2011 The American Dream Dec 15, 2010 ‘If you only watch the “economic pundits” on television, it can be very confusing to figure out exactly what is happening with the U.S. economy. One pundit will pull out a couple statistics that got a little bit better over the past month and claim that we have entered a time of solid recovery. Another pundit will pull out a couple statistics that got a little worse over the past month and claim that we are headed for trouble. So what is the truth? Well, if you really want to get a clear idea of what is really going on you have to look at the long-term trends. There are some economic trends which just keep getting worse year after year after year, and it is those trends that tell the real story of the decline of our economic system.
As you examine the long-term trends, you quickly come to realize that the U.S. is trapped in an endless spiral of debt, the middle class is being wiped out, the U.S. dollar is being destroyed and America is rapidly becoming a post-industrial wasteland.
Posted below are 16 nightmarish economic trends to watch carefully in 2011. It is becoming exceedingly apparent that unless something is done rapidly we are heading for an economic collapse of unprecedented magnitude….
#1 Do you want to see something scary? Just check out the chart below. Since the beginning of the economic downturn, the U.S. monetary base has more than doubled. But don’t worry – Federal Reserve Chairman Ben Bernanke has promised us that this could never cause inflation. In fact, Bernanke says that we need to inject even more dollars into the economy. So if you are alarmed by the chart below, you are just being irrational according to Bernanke….
#2 Thousands of our factories, millions of our jobs and hundreds of billions of dollars of our national wealth continue to be shipped overseas. In 1985, the U.S. trade deficit with China was 6 million dollars for the entire year. In the month of August alone, the U.S. trade deficit with China was over 28 billion dollars. Nobel economist Robert W. Fogel of the University of Chicago is projecting that the Chinese economy will be three times larger than the U.S. economy by the year 2040 if current trends continue.
#3 The United States is rapidly becoming a post-industrial wasteland. Back in 1959, manufacturing represented 28 percent of all U.S. economic output. In 2008, it represented only 11.5 percent and it continues to fall. Sadly, the truth is that America is being deindustrialized. As of the end of 2009, less than 12 million Americans worked in manufacturing. The last time that less than 12 million Americans were employed in manufacturing was in 1941.
#4 The number of Americans that have been out of work for an extended period of time has absolutely exploded over the last few years. As 2007 began, there were just over 1 million Americans that had been unemployed for half a year or longer. Today, there are over 6 million Americans that have been unemployed for half a year or longer.
#5 The middle class continues to be squeezed out of existence. According to a poll taken in 2009, 61 percent of Americans ”always or usually” live paycheck to paycheck. That was up substantially from 49 percent in 2008 and 43 percent in 2007.
#6 The number of Americans living in poverty is absolutely skyrocketing. 42.9 million Americans are now on food stamps, and one out of every six Americans is now enrolled in at least one anti-poverty program run by the federal government. Unfortunately, many of those that have been hardest hit by this economic downturn have been children. According to one new study, approximately 21 percent of all children in the United States are living below the poverty line in 2010 - the highest rate in 20 years.
#7 Many American families have been pushed beyond the breaking point during this economic downturn. Over 1.4 million Americans filed for personal bankruptcy in 2009, which represented a 32 percent increase over 2008. The final number for 2010 is expected to be even higher.
#8 The U.S. real estate market continues to stagnate. During the third quarter of 2010, 67 percent of mortgages in Nevada were “underwater”, 49 percent of mortgages in Arizona were “underwater” and 46 percent of mortgages in Florida were “underwater”. So what happens if home prices go down even more?
#9 More elderly Americans than ever are being forced to put off retirement and continue working. In 2010, 55 percent of Americans between the ages of 60 and 64 were in the labor market. Ten years ago, that number was just 47 percent. Unfortunately, it looks like this problem will only get worse in the years ahead. In America today, approximately half of all workers have less than $2000 saved up for retirement.
#10 In the United States today, there are simply far too many retirees and not nearly enough workers to support them. Back in 1950 each retiree’s Social Security benefit was paid for by 16 workers. Today, each retiree’s Social Security benefit is paid for by approximately 3.3 workers. By 2025 it is projected that there will be approximately two workers for each retiree.
#11 Financial assets continue to become concentrated in fewer and fewer hands. For example, the “big four” U.S. banks (Citigroup, JPMorgan Chase, Bank of America and Wells Fargo) had approximately 22 percent of all deposits in FDIC-insured institutions back in 2000. As of the middle of 2009 that figure was up to 39 percent.
#12 The Federal Reserve has been destroying the value of the U.S. dollar for decades. Since the Federal Reserve was created in 1913, the U.S. dollar has lost over 95 percent of its purchasing power. An item that cost $20.00 in 1970 would cost you $112.35 today. An item that cost $20.00 in 1913 would cost you $440.33 today.
#13 Commodity prices continue to soar into the stratosphere. Ten years ago, the price of a barrel of oil hovered around 20 to 30 dollars most of the time. Today, the price of oil is rapidly closing in on 100 dollars a barrel and there are now fears that it could soon go much higher than that.
#14 Federal government spending is completely and totally out of control. The U.S. government budget deficit increased to a whopping $150.4 billion last month, which represented the biggest November deficit on record. But our politicians can’t seem to break their addiction to debt. In fact, Democrats are trying to ram through a 1,924 page, 1.1 trillion dollar spending bill in the final days of the lame-duck session of Congress before the Republicans take control of the House of Representatives next year.
#15 The U.S. national debt is rapidly closing in on 14 trillion dollars. It is more than 13 times larger than it was just 30 short years ago. According to an official U.S. Treasury Department report to Congress, the U.S. national debt is projected to climb to an estimated $19.6 trillion by 2015.
#16 Unfortunately, the official government numbers grossly understate the horrific nature of the crisis we are facing. John Williams of Shadow Government Statistics has calculated that if the federal government would have used GAAP accounting standards to measure the federal budget deficit for 2009, it would have been approximately 8.8 trillion dollars. Not only that, but John Williams now says that U.S. government debt is so wildly out of control that it is mathematically impossible for us to “grow” our way out of it….
The government’s finances not only are out of control, but the actual deficit is not containable. Put into perspective, if the government were to raise taxes so as to seize 100% of all wages, salaries and corporate profits, it still would be showing an annual deficit using GAAP accounting on a consistent basis. In like manner, given current revenues, if it stopped spending every penny (including defense and homeland security) other than for Social Security and Medicare obligations, the government still would be showing an annual deficit. Further, the U.S. has no potential way to grow out of this shortfall.
The more one examines the U.S. economic situation, the more depressing it becomes. The U.S. financial system is trapped inside a horrific debt spiral and we are headed straight for economic oblivion.
If our leaders attempt to interrupt the debt spiral it will plunge our economy into a depression. If our leaders attempt to keep the debt spiral going for several more years it will just make the eventual crash even worse. Either way, we are headed for a financial implosion that will be truly historic.
The debt-fueled good times that we have been enjoying for the last several decades are rapidly coming to an end. Unfortunately for the tens of millions of Americans that are already suffering, our economic problems are only going to get worse in the years ahead.’
Jobless Recovery?: 25 Unemployment Statistics That Are Almost Too Depressing To Read ‘… Unemployment is up again! That’s right – even though Wall Street is swimming in cash and the Obama administration is declaring that “the recession is over”, the U.S. unemployment rate has gone even higher. So are you enjoying the jobless recovery? Economic Collapse Blog Dec 4, 2010 ‘Guess what? Unemployment is up again! That’s right – even though Wall Street is swimming in cash and the Obama administration is declaring that “the recession is over”, the U.S. unemployment rate has gone even higher ... Times are really, really tough and unfortunately the long-term outlook is very bleak. We should have compassion on those who are out of work right now, because soon many of us may join them.
The following are 25 unemployment statistics that are almost too depressing to read….
#1 According to the Bureau of Labor Statistics, the U.S. unemployment rate for November was 9.8 percent. This was up from 9.6 percent in October, and it continues a trend of depressingly high unemployment rates. The official unemployment number has been at 9.5 percent or higher for well over a year at this point.
#2 In November 2006, the “official” U.S. unemployment rate was just 4.5 percent.
#3 Most economists had been expecting the U.S. economy to add about 150,000 jobs in November. Instead, it only added 39,000.
#4 In the United States today, there are over 15 million people who are “officially” considered to be unemployed for statistical purposes. But everyone knows that the “real” number is even much larger than that.
#5 As 2007 began, there were just over 1 million Americans that had been unemployed for half a year or longer. Today, there are over 6 million Americans that have been unemployed for half a year or longer.
#6 The number of “persons not in the labor force” in the United States recently set another new all-time record.
#7 It now takes the average unemployed American over 33 weeks to find a job.
#8 When you throw in “discouraged workers” and “underemployed workers”, the “real” unemployment rate in the state of California is actually about 22 percent.
#9 In America today there are not nearly enough jobs for everyone. In fact, there are now approximately 5 unemployed Americans for every single job opening.
#10 According to The New York Times, Americans that have been unemployed for five weeks or less are three times more likely to find a new job in the coming month than Americans that have been unemployed for over a year.
#11 The U.S. economy would need to create 235,120 new jobs a month to get the unemployment rate down to pre-recession levels by 2016. Does anyone think that there is even a prayer that is going to happen?
#12 There are 9 million Americans that are working part-time for “economic reasons”. In other words, those Americans would gladly take full-time jobs if they could get them, but all they have been able to find is part-time work.
#13 In 2009, total wages, median wages, and average wages all declined in the United States.
#14 As of the end of 2009, less than 12 million Americans worked in manufacturing. The last time that less than 12 million Americans were employed in manufacturing was in 1941.
#15 The United States has lost at least 7.5 million jobs since the recession began.
#16 Today, only about 40 percent of Ford Motor Company’s 178,000 workers are employed in North America, and a big percentage of those jobs are in Canada and Mexico.
#17 In 1959, manufacturing represented 28 percent of U.S. economic output. In 2008, it represented 11.5 percent.
#18 Earlier this year, one poll found that 28% of all American households had at least one member that was looking for a full-time job.
#19 In the United States today, over 18,000 parking lot attendants have college degrees.
#20 The United States has lost a staggering 32 percent of its manufacturing jobs since the year 2000.
#21 As the employment situation continues to stagnate, millions of American families have decided to cut back on things such as insurance coverage. For example, the percentage of American households that have life insurance coverage is at its lowest level in 50 years.
#22 Unless Congress acts, and there is no indication that is going to happen, approximately 2 million Americans will stop receiving unemployment checks over the next couple of months.
#23 A poll that was released by the Pew Research Center back in June discovered that an astounding 55 percent of the U.S. labor force has experienced either unemployment, a pay decrease, a reduction in hours or an involuntary move to part-time work since the economic downturn began.
#24 According to Richard McCormack, the United States has lost over 42,000 factories (and counting) since 2001.
#25 In the United States today, 317,000 waiters and waitresses have college degrees.
But this is what we get for creating the biggest debt bubble in the history of the world. For decades we have been digging a deeper hole for ourselves by going into increasingly larger amounts of debt. In America today, our entire economy is based on debt. Even our money is debt. We were fools if we ever thought this could go on forever. Just think about it. Have you ever gone out and run up a bunch of debt? It can be a lot of fun sitting behind the wheel of a new car, running your credit cards up to the limit and buying a beautiful big house that you cannot afford. But in the end what happens? It always catches up with you. Well, our collective debt is starting to catch up with us. There is a sea of red ink on every level of American society. It is only a matter of time before it destroys our economy. IF YOU THINK THAT THINGS ARE BAD NOW, JUST WAIT. THINGS ARE GOING TO GET A WHOLE LOT WORSE. A HORRIFIC ECONOMIC COLLAPSE IS COMING, AND IT IS GOING TO BE VERY, VERY PAINFUL.’
Howard Davidowitz on the Economy: "Here Are the Numbers ... WE'RE BROKE!" 11-25-10 ‘The U.S. economy "is a complete disaster," Howard Davidowitz declared here in July, the most recent in a string of dire predictions from Tech Ticker's most entertaining guest.On the eve of Thanksgiving, I asked Davidowitz if he had any regrets, or was ready to throw in the towel given recent signs of economic revival. Are you kidding me? "Here are the numbers...we're broke," Davidowitz declares, noting the U.S. government goes $5 billion deeper into debt every day and is facing $1 trillion-plus annual deficits for the next decade. "In other words, we're bankrupt."As with the economy, Davidowitz is unwaveringly consistent in his views on President Obama, calling him "deranged, dysfunctional and discredited."Results of the midterm election show "the people of this country think we are in a catastrophe," he says. "I'm with them."Check the accompanying video for more of Howard's unfettered opinions and stay tuned for additional clips from this interview. And...Happy Thanksgiving! Aaron Task is the host of Tech Ticker. You can follow him on Twitter at @atask or email him at altask@yahoo.com’
Timid Tuesday: Is it Safe? Davis ‘… This is how we pay off our current debts and I think bondholders are simply happy to get anything out of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The funniest thing about this (and you have to laugh) is to see Conservative pundits get on TV and talk about how we need to cut $100Bn worth of discretionary spending to "fix" this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year). There is no fixing this and even a Republican said you can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘
17 Things Worrying Investors Lloyd's Wall of Worry
Worry Count: 17
CHINA: 1,330,044,605 people can’t be wrong.
The PIIGS: Fasten your seatbelts. It’s gonna be a long, bumpy, expensive, weird, (insert your own adjective here) freak show of a ride.
CALIFORNIA AND THE OTHER 49 STATES: Not yet as dire as “The PIIGS”. Might I suggest the classier moniker of “The Prosciuttos” for the American basket-case states?
QE II: Gobble?
U.S. ECONOMY: The “Punky Brewster” of the global economic landscape.
UNEMPLOYMENT: Only thing worse than losing your job, losing your unemployment check. At least there’s the holiday season to cheer everyone up (read: heavy sarcasm).
TAXES: Praying to the Financial Market Gods that we don’t have another TARP-like vote fiasco.
OBAMA ADMINISTRATION PART II: Still two years before the Pres. election and the peanut gallery is already pleading for a Hail Mary Pass to get them back in the game.
HFT: Instead of beating up these liquidity supplying traders, let’s honor them with their very own stock exchange. But wait -- with no retail saps to pick-off they will never get that Day 1 opening bell tick. Perfect.
XMAS 2010: As my professor friend Nick says, “Nowadays Americans are dining off of two menus – The Million Dollar and the $0.99 Cent.” And both are pissed about it.
CURRENCIES: Poor Mr. Greenback. Does someone need a hug?
HOUSING CRISIS: Price Stabilization – Are we there yet? Just a little bit more. Are we there yet? Just a little bit more. Are we there yet? Just a little bit more….
INFLATION/DEFLATION: Fed Chief Ben B. comes out swinging from his heels in defense of inflation promotion. Don’t punch yourself out as this one is likely to go the distance.
COMMODITIES: Corrected but still sky high; fortunately these prices are only affecting core, basic, life-sustaining necessities and sparing our electronic gadgets and plus-sized SUVs. Whew!
INSIDER TRADING: Another black eye for Hedge Funds. I estimate that makes black eye number 6,597.
INTEREST RATES: South Korea and China slowly turning up the dial to “11”. On the other hand the U.S. has removed the dial altogether. This never ends well….
NORTH KOREA: Here we go again.
(12-16-10) Dow 11,499 +41 Nasdaq 2,637 +20 S&P 500 1,242 +7 [CLOSE- OIL $88.92 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $3.00 (reg. gas in LAND OF FRUITS AND NUTS $3.20 REG./ $3.29 MID-GRADE/ $3.39 PREM./ $3.79 DIESEL) / GOLD $1,374 (+24% for year 2009) / SILVER $29.10 (+47% for year 2009) PLATINUM $1,696 (+56% for year 2009) / DOLLAR= .75 EURO, 83 YEN, .63 POUND STERLING, ETC. (How low can you go - LOWER)/ http://www.federalreserve.gov/releases/h15/update 10 YR NOTE YIELD 3.48% …..… AP Business Highlights ...Yahoo Market Update... T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!
National / World
DHS Implementing No Work List: Citizens Must Get Government Approval to Work in Private Sector Jobs Kurt Nimmo | You’ve heard of no fly and no buy lists – get ready for no work lists. Millions of workers now must apply to the DHS and prove they are not terrorists in order to be granted permission by the government to work.
WISH TV: Camper resident facing eviction backed by viral Infowars campaign WISH 8 TV | An Indiana station is covering the attempt to evict a man living in his camper, noting the viral resistance mounted by Alex Jones and other online patriots who are trying to support the 72-year old man.
TSA Lies Again Over Capture, Storage Of Body Scanner Images Steve Watson | Spokesman says Baywatch star’s image will not leak because it is “impossible.”
Yet Another iPhone Snitch App Released Jason Douglass | Yet another iPhone snitch app released allows users to report infractions.
Insider Reveals Diabolical Secrets Of The Rand Corporation Prison Planet.tv | Alex Abella on how mad men who run technocratic elite are intent on starting World War III
Italian court increases sentences for 23 CIA agents AFP | An Italian court upped the sentences for 23 CIA agents convicted in absentia of abducting an Egyptian imam.
Ireland passes bailout package despite opposition Reuters | Ireland’s parliament approved a multi-billion euro EU/IMF bailout package on Wednesday.
Michael Moore offers bail, help to WikiLeaks AFP | Michael Moore offers Julian Assange help with bail and Moore’s own website servers to continue Wikileaks.
TSA Lies Again Over Capture, Storage Of Body Scanner Images The TSA has once again denied that the crisp naked images produced by x-ray imaging machines can be captured and stored, a claim already shown to be false by documents released under the Freedom of Information Act.
Complaint About DHS/Wal-Mart Partnership Leads to Wiretap Talaya Soria, a pastor’s wife living in California and an ex-employee of Wal-Mart shared some interesting information regarding a phone call placed to Wal-Mart’s corporate offices about the mega-giant’s ‘if you see something, say something’ partnership between Wal-Mart and The Department of Homeland Security (DHS).
Insider Reveals Diabolical Secrets Of The Rand Corporation Cuban-born journalist and author Alex Abella was allowed exclusive access inside the RAND Corporation to view their archives. What he discovered was a plot driven by mad scientists, behaviorists, and generals who were intent on starting world war three and fleecing the American people in the process. Once he was a skeptic on the subject of conspiracy theories and the new world order, but after his work with the RAND Corporation he is now convinced that this top secret think tank has been pulling the strings of American government for at least 60 years.
TSA Choir Will Sing While You Are Groped The LAX TSA Choir, a group of 17 singers and musicians, all of them employees of the TSA, have been surprising passengers with performances of holiday music and other tunes in the midst of one of the nation’s busiest airports, reports USA Today .
Julian Assange granted bail at high court Britain’s high court today decided to grant bail to Julian Assange, the WikiLeaks founder who is wanted in Sweden for questioning over allegations of rape.
Austin Joins Rebellion Against Naked Body Scanners Austin has joined the nationwide rebellion against naked body scanners by resisting plans on behalf of the TSA to install the devices at Austin-Bergstrom International Airport next year, while the TSA has still failed to respond to a FOIA request filed by former Congressman Bob Barr demanding information about whether the agency is keeping a list of “domestic extremists” who have opposed invasive airport security measures.
Espionage Act endangers First Amendment rights, ACLU warns Applying the US Espionage Act to third-party publishers of classified information like WikiLeaks would violate protected speech rights, the American Civil Liberties Union (ACLU) told members of the House Judiciary Committee Thursday.
Nigel Farage: The People are holding you in contempt, Mr Barroso Farage again points out that Barroso was not democratically elected, to which Barroso brags that he was elected in secret by his own cronies. Farage points to recent Wikileaks cables which show that world leaders hold little or no respect for Barroso.
More Cyber Attacks Promised A pro-WikiLeaks hacker has told Sky News an internet insurgent group will keep attacking those companies who target the whistleblowing website.
UK, not Sweden, behind efforts to keep Assange in jail: report British prosecutors, rather than Swedish officials, are behind the effort to keep WikiLeaks founder Julian Assange from being granted bail, the Guardian reports.
US may charge Assange with conspiring to leak cables: report The Justice Department is looking at contact between WikiLeaks founder Julian Assange and the alleged source of the leaked State Department cables, PFC Bradley Manning, in order to build a criminal conspiracy case against Assange, a news report says.
Drudgereport: DEFICIT HITS RECORD...
MOODY'S May Cut US Rating on Tax Package...
New spending bill totals $1.1 TRILLION!
Congress Job Approval Rating Worst in GALLUP History...
Senate clerks preparing to read 1,924-page spending bill on floor -- for 50 hours!...
Senator: 'There's No Way' To Read Entire Bill Before Vote...
KERRY: 'Why Would We Have To Read Something?'
McConnell offers 1-page resolution in place of 1,924-page spending bill...
SHOWDOWN: Gingrich Urges Fillibuster...
Biden To GOP Opposition: 'Get Out Of The Way'...
Reid: Earmarks are 'what we're supposed to do'...
Ban on Gitmo transfers vanishes...
Omnibus bill loaded with goodies for abortion industry...
PRIORITIES: House approves bill to make hybrids louder...
23% Say USA Heading in Right Direction, Lowest Since Obama Took Office...
POLL: Just 29% think Obama will be re-elected...
Is America the sick man of the globe?
BUCHANAN: Is this our America anymore?
UK Red Cross Bans Christmas to Avoid Offending Muslims...
SALVATION ARMY bell ringer caught stealing from kettle...
Deputies suspended after getting into brawl at party...
2 women charged with robbing 74-year-old...
Hundreds of gifts for kids stolen from 'Toys for Tots'...
Thousands of dollars in donated toys ruined after skunk attack...
Grocery prices grow by 1.5 times inflation rate...
Socialist president plays host to capitalism...
REPORT: Obama told lawmakers not passing tax deal could end presidency...
A $48 billion earmark...
PAPER: Year of bullying, bluff and bailouts leaves euro fighting for its life...
Reeling from riots, Italy faces uncertainty...
Greek anti-austerity strike turns violent...
VIDEO...
MORE UNREST: 2011...
$575 million PER PAGE...
6,488 earmarks...
McConnell fumes: 'No one has seen it'...
Reid threatens to keep Congress into next year...
Intelligence Reports Offer Dim Views of Afghan War...
HOLBROOKE LAST WORDS: STOP THIS WAR!
UPDATE: RUSSIA TO USE CHINA CURRENCY IN TRADES...
UK GRANTS ASSANGE BAIL; SWEDEN APPEALS...
Release delayed...
Lawyer: Secret Grand Jury Meeting Outside Washington on Leak...
CHRISTMAS CRIMES: Drive-By Purse Snatcher Terrorizing Women In NJ...
2 women charged with robbing 74-year-old...
Hundreds of gifts for kids stolen from 'Toys for Tots'...
Thousands of dollars in donated toys ruined after skunk attack...
Copper thieves burn down city's Christmas tree...
Burglar steals family's gifts -- and its dog!
Grave robbers steal 400 urns from cemetery...
'Grinch' Steals Packages Off Doorsteps, Signs For Deliveries...
Home Invaders Tie Up 12-Year-Old Boy, Take Video Games...
90-Year-Old Man Put In Choke-Hold, Robbed Of $370...
'Tea Party' anger simmers over backroom deal; Ramps up efforts...
2 Bank Failures Bring Year's Tally To 151...
COPS: Madoff's son hangs himself with dog collar in SoHo apartment...
...gave mechanic $400 tip day before suicide
Madoff Trustee Launches $19.6 Billion Lawsuit; 60 accused of participating in 'illegal scheme'...
Pump prices close in on average $3 a gallon...
FLASHBACK: $1.81 when Obama took office...
BLOW TO O: JUDGE RULES GOV'T CAN'T MANDATE CITIZENS BUY HEALTH CARE...
Cantor: Direct Appeal to Supremes...
POLL: Support For Obamacare Hits New Low...
Pelosi: 'Are You Serious?'
Obama: 'I'm itching for a fight'...
U N C O N S T I T U T I O N A L
Barbara Walters: 'This Guy (wobama) Has an Emotional Problem' [ Yes, it’s true, babawawa … wobama has substantial mental problems which along with inherent criminality are pervasive in america which also includes boner, and where were you in discussing such, babawawa regarding psychopaths bush, clinton, etc., or even former beau, senile greenspun ]...
DEFICIT HITS RECORD...
Putin Slams West for Assange Arrest...
US cable: Cuba to be insolvent within 2-3 years...
Assange Lawyers Prepare for U.S. Spying Indictment...
Teen Arrested in Hack Attacks...
Donations to WIKILEAKS are Tax Deductible -- in Germany...
Anonymous cyberwarriors stun experts...
Media outlets may be probed over WikiLeaks stories, joe ‘zelig zionist incompetent and corrupt‘ lieberman in Campaign To Trample The First Amendment claims Can the US government prosecute media outlets that reported on the WikiLeaks cables? According to joe ‘zelig zionist incompetent and corrupt‘ lieberman in his Campaign To Trample The First Amendment, the answer is maybe.
Home Values May Drop by $1.7 Trillion This Year...
UNEMPLOYMENT WEEK: DOWN TO 421,000; REVISED UP LAST WEEK 438,000...
POLL: Most Americans Say They’re Worse Off Under Obama...
F O [Related: Olbermann: Obama Is ‘God Damned Wrong’ ]
REVENGE OF THE WIKIS!
Army of hackers targets the Swedish government...
Take down MASTERCARD site...
...VISA
PAYPAL...
AMAZON braces for hactivist attack...
Palin under cyber attack...
Assange's 'poison pill' file impossible to stop...
MOSCOW: Give Assange Nobel Peace Prize...
SENATE REJECTS REPEAL OF DON'T ASK DON'T TELL...
House Dems push through massive budget bill...
Final House Race Decided; GOP Net Gain: 63 Seats...
Ron Paul, Author of 'End the Fed,' to Lead Fed Oversight Panel...
Student protesters in London turn violent over tuition hikes...
Thousands try to break through police barricades at Houses of Parliament...
...attack car containing Prince Charles, Camilla...
Rolls Royce hit with paint; rear window smashed...
US Treasuries hit by biggest sell-off since LEHMAN...
Prices Plunge for 2nd Day on Deficit Fears...
Rattles investors...
Oil tipped to bubble over $100 barrel...
Food Stamp Rolls Continue to Rise...
SHOCK POLL: Americans Believe China Has Surpassed USA in Economic Strength...
'U.S. fiscal health worse than Europe's'...
Sorkin: Palin TV show is 'snuff movie'... [ Yeah … ‘she’s really all that’ and worse … I have great difficulty getting past the fact that she’s so incredibly dumb … not just ‘nonintellectual’ … butt really dumb! ] ‘… Sorkin, writer of the recent Facebook movie The Social Network, also accused the Fox News contributor of making a "snuff film" after the latest episode of Sarah's Palin's Alaska featured the politician going hunting with her father and shooting a caribou. He described Palin as "deranged", a "witless bully" and a "phony pioneer girl". He also said The Learning Channel, the US cable network, "should be ashamed of itself" for broadcasting her "truly awful reality show"…’
Senate convicts Clinton-appointed judge... [ Come on! One way or another they’re almost all getting bribed; including the initial lifetime appointment as alito, trump-barry, etc.. Abolish the corrupt, costly, economically wasteful lifetime extravagantly appointed federal courts (see RICO case http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ) End those lifetime licenses to steel. ] In earlier hearings, two attorneys who once worked with Porteous had testified that they gave him thousands of dollars in cash, including about $2,000 stuffed in an envelope in 1999, just before Porteous decided a major civil case in their client's favor.
Assange could face espionage trial in USA...
Palin under cyber attack...
1st Amendment issues...
Assange's 'poison pill' file impossible to stop...
WIKILEAKS: Stop Us? You'll Have to Shut Down Web...
Berkeley 'resolution' honoring leaker...
Scientologists outraged over spoof Christmas play... [ Hubbard was such a total fraud! Scientologists are delusional! ]St. Petersburg, Florida – ‘A controversial holiday musical production is set to open at American Stage Theatre in St. Petersburg. Photos: Pictures of A Very Merry Unauthorized Children's Scientology Pageant "A Very Merry Unauthorized Children's Scientology Pageant" is a musical play designed for the holiday season, but this play will not focus on Jesus Christ, but instead the story is about L. Ron Hubbard, the founder of the church Of Scientology…’
NO BAIL...
Assange 'sabotaged condom' during one night stand...
Refused to wear one during another...
Stockholm police: Both women are victims...
INTERPOL WARRANT FOR NOT WEARING PROTECTION?
ASSANGE UNDER ARREST:
'HE DIDN'T WEAR A CONDOM'
Under arrest, will Assange dump the Doomsday Files?
Assange: Don't shoot messenger for revealing uncomfortable truths...
FLASHBACK: HILLARY COMPLAINS GOVERNMENTS BLOCK FREE FLOW OF INFO ON INTERNET...
WIKILEAKS: LIVE UPDATES...
FCC push to regulate news draws fire...
Lieberman: NYT may have committed crime by printing WIKILEAKS docs...
US to Host World Press Freedom Day in 2011 … [ What a total travesty! The u.s. as host … What a cruel joke! ] ...
OBAMA RACES TO CUT TAXES BEFORE REPUBLICANS: 6.2% Social Security tax would drop to 4.2% for workers for one year... MORE
THE NEW OBAMA!
SURPRISE TAX CUT MOVE [ As with defacto bankrupt america generally, more defacto bankrupt social security system, etc., are distinctions without significant differences. ]
OIL HITS $89...
Pump prices hit 2-year high...
Schwarzenegger Declares Fiscal Emergency, Proposes $9.9 Billion In Cuts...
Top Democrats defect, join unified GOP...
WIKILEAKS' Assange Will Release Encrypted Files If Arrested...
Cables Reveal How US Manipulated Climate Accord...
Cable: China Leaders Ordered Hacking on GOOGLE...
Meddling by Neighbors Adds to Iraq's Woes...
Government Workers Ordered Not to Read Cables...
Gingrich: Leaks Show Admin 'Shallow,' 'Amateurish'...
McConnell: Assange a 'High-Tech Terrorist'...
List of facilities 'vital to US security' leaked...
Mirror Sites Appear by the Hundreds...
Assange Speaks...
Hillary Jokes...
US forced to shake up embassies around world...
THE DOOMSDAY FILES
PAPER: Wave goodbye to Internet freedom...
[ I’m absolutely astounded that the world is not profoundly grateful to Assange et als for providing insight into the machinations and insanity of pervasively corrupt, defacto bankrupt america, et als who wreaked havoc on the world as they pillage, plunder, and destroy (lives, nations, etc.). ]
+39,000 JOBS IN NOVEMBER...
BOEHNER: Dem Leaders Should Stop Wasting Time on Tax Hike Votes...
HALPERIN: Dems 'In Midst of Nervous Breakdown'...
Obama Makes Surprise Trip to Afghanistan...
Flies 7,000 miles -- talks to Karzai for 15 minutes on phone!
Forgets the Coast Guard...
Leaves Biden behind to handle 'disappointing' jobs report...
Reid, funded by casinos, pushes online gambling...
ABCNEWS accused of breaking embargo...
2010 death toll of US troops nears that of 2001-2008 combined...
OBAMA SPEECHWRITER JOKES ABOUT TSA GROPING: Allows 'defrocked priests to give back to society'...
US Deficit-Cutting Plan Falls Short of Needed Votes...
UNEMPLOYMENT UP TO 9.8%
HILLARY: Secretary of State will be 'my last public position'... ... PITCHE$ $IGNED DVD ON HOME $HOPPING NETWORK..
US TO BAILOUT EU [ Riiiiight! Sounds like a plan! After all, in defacto bankrupt america money does grow on trees … derivatively (pun intended) that is … you know … that ever more worthless fiat paper currency … and ultimately, existentially, philosophically, doesn’t paper come from trees … sure it does …so, no problemo since money grows on trees. ]
BOMBSHELL: European banks took big slice of Fed aid...
Hundreds of billions of dollars...
Fed reveals global extent of its backing... ]Funds went to stalwarts of American industry including GE and Caterpillar and household-name companies such as Verizon, new data show.
GEORGIA: HUNDREDS LINE UP IN COLD FOR HEAT HELP...
Assistance Funds Quickly Depleted...
'Almost like being in soup line during great depression'...
VIDEO...
DELAYING TAX VOTE COULD 'CRASH STOCK MARKET' STARTING 12/15 [ Come on! There’s no way to justify the tax cut to the top 1% including the frauds on wall street … their threats don’t hunt no more … the nation’s defacto bankrupt … see Davis, supra! ]
Chase Bank orders branch to remove Christmas tree...
Cyber attack forces WIKILEAKS to change web address...
Respected media outlets collaborate with organization... [ Said outlets and other disseminators and of course Wikileaks deserve accolades for the advancement of first amendment liberties in the name of an informed global body politick for all.]
UPDATE: Latest developments...
Foreign contractors hired Afghan 'dancing boys'...
Embassy cables portray Karzai as corrupt, erratic...
CIA drew up UN spying wishlist...
Assange speaks...
UPDATE: Latest WIKILEAKS developments...
Foreign contractors hired Afghan 'dancing boys'...
Embassy cables portray Karzai as corrupt, erratic...
CIA drew up UN spying wishlist...
SANTA CLAUSE: FED AID WENT TO COMPANIES, BANKS, OFFSHORE...
SECRETLY BAILED OUT GE -- GE NEWS OUTLETS FAILED TO REVEAL IN FED COVERAGE...
SANTA CLAUSE: FORD, BMW, TOYOTA Took Secret Government Money......
Fed Created Conflicts in Improvising Financial System Rescue...
Tax Breaks for Bailout Recipients Spark Debate...
MORE SECRETS: Fed Withholds Data for $885 Billion in Loans...
RUSSIA TO HOST '18 WORLD CUP FINALS...
Qatar selected '22 host over USA, others...
'AMERICAN PSYCHO' musical in works... [ I recommend the derivative films, American Psycho and American Psycho 2, for insight! ]
National Board of Review: SOCIAL NETWORK named best film... [ National board of what? ‘Inception’ is by far and away the ‘Best Film’ across the board, in all categories, and on the list! ] LIST...
BANK OF AMERICA Becoming 'Bank of Asia' as Revenue Increases 30% ...
RESET: PUTIN CRITICIZES USA OVER WIKILEAKS … [ Putin deserves the greatest deference in matters of global concern in light of his greater rationality; america’s self-serving accusations are merely envy and projection / displacement (in psychoanalytic terms) of america’s pervasively corrupt, criminal, broken system which is a far cry in reality from defacto bankrupt america’s propaganda.]...
REWARD: [ The payoff. Bribe complete! Next bribe scenario … ] CITI to Hire Obama's Ex-Budget Chief Orszag...
FLASHBACK: Rubin and friends ride NY-DC shuttle...
ZUCKERMAN: Watching America's Decline and Fall [the moral authority of the West has dramatically declined in the face of the financial crisis. It has revealed deep fault lines within Western economies that have spread to the global economy. The majority of Western governments are running fiscal deficits of 10 percent or more relative to GDP, but it is increasingly clear that there will be no quick fixes, that big government and fiscal deficits will not bring us back to the status quo ante. Indeed, the tidal wave of red ink has meant that the leverage-led or debt-led growth model is dead. Developed countries will be forced to deal with their debt on every level, from the personal to the corporate to the sovereign. Being able to borrow may have made people feel richer, but having to repay the debt is certainly making them feel poorer, particularly since the unfunded liabilities that many governments face from aging populations will have to be paid for by a shrinking band of workers. (Ecoutez, mes amis!) Demography is destiny. As a result, there is a burgeoning consensus that we are witnessing an inevitable rise of the East and a decline of the West…( 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). ) ]...
Interpol issues wanted notice for Julian Assange [ They just can’t take the truth! ] ...
US cuts access to files [ Think about it. Really think about it. Their policies are in the tank, along with the nation and the rest of this world as a consequence. Don’t those so detrimentally affected (everyone) have a right to know? I think in light of the global frauds, contrived perpetual wars though defacto bankruptcy of this and other nations, pervasive corruption and crime, failed policies domestically and geo-politically while serving the very parochial interests of the self-interested few, the answer is an unequivocal, YES! I believe that world history will write Mr. Assange as a hero in the truest sense. He should be given a medal; and, certainly, since mr. b*** s*** wobama undeservingly got a ‘nobel peace prize’ (what he does, not what he says, ie., Afghanistan, etc.), who more than Julian Assange is deserving of that and more? Cover-up / propaganda … thy name is fallen america.]...
WIKILECTURE: 'HILLARY SHOULD RESIGN' ‘…Hillary Clinton, Julian Assange said, "should resign." Speaking over Skype from an undisclosed location on Tuesday, the WikiLeaks founder was replying to a question by TIME managing editor Richard Stengel over the diplomatic-cable dump that Assange's organization loosed on the world this past weekend. Stengel had said the U.S. Secretary of State was looking like "the fall guy" in the ensuing controversy, and had asked whether her firing or resignation was an outcome that Assange wanted. "I don't think it would make much of a difference either way," Assange said. "But she should resign if it can be shown that she was responsible for ordering U.S. diplomatic figures to engage in espionage in the United Nations, in violation of the international covenants to which the U.S. has signed up. Yes, she should resign over that."…’
CITY ON EDGE: Cash-Strapped Newark, new jersey Forced To Lay Off 14% Of Police Force... [ From decades old (1978-1985) direct personal experience with newark, n.j., the police are the absolute last cuts that can be afforded to be made. Indeed, while walking through Military Park (a sliver of a “park” - more a pedestrian thoroughfare/cement walks) in newark, new jersey on the way to the bank during lunch hour, I heard the clearly audible screams/cries of what turned out to be an old lady on the ground with blood streaming from her mouth. I ran toward the sound of the cries, the source of which I could not see because there were so many people in and about this thoroughfare so as to block any vision of the source of the cries. When I came to the woman, on the ground, blood streaming from her mouth, I asked what happened, to which she responded she had been hit in the mouth and knocked to the ground, her purse stolen/put inside her shopping bag, and she pointed out the criminal casually now walking across the main street. Nobody stopped to help her, many having passed her by. I slammed the thug to the ground so hard that, in light of all the blood and confusion (limbic system / adrenalin flow) I thought I had been stabbed (the blood was from his elbows hitting the pavement so hard - no one helped / a crowd gathered / an undercover cop happened along). When I testified at the Grand Jury Proceeding I made sure his threat on my life was set forth in prima facie fashion so as to maximize the DA’s position with both felonies ( he went to prison – pled out ). The other case I wrote about here ( This was included on my website in the Psychology forum discussion of ‘bystander effect’ / diffusion of responsibility. ) - Having had occasion to have run down a mugger in newark, n.j. who apparently had followed a girl from the bank on her way to the bursar to pay tuition, though in pretty good shape, I was astounded by how totally exhausting such a pursuit was, how much like rubber my arms were when I traded punches with the perpetrator, and truth be told, if I had a flashlight on my belt, I have little doubt that I would have probably used it to subdue the perp. The girl was not that seriously injured, did get her pocketbook and tuition back, and the criminal went to jail. The other thing about such a pursuit that amazed me was that no one else assisted the girl or me despite being in a position to do so). (Other newark / new jersey and new york, n.y. metro, viz., ie., connecticut, and of course, d.c., d.c. metro, viz., ie., virginia experience … corrupt federal judges as maryanne trump barry, sam alito, shiff, matz (california), hall, underhill, dorsey, etc.. Defacto bankrupt america’s so-called system is pervasively corrupt and broken (AP) Abolish the corrupt, costly, economically wasteful lifetime extravagantly appointed federal courts - see RICO case http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ) ]
Nation's '2nd Most Dangerous City' (camden, new jersey) To Lay Off Nearly Half Of Police Force...
Chicagoland: Vandals torch Christmas charity van...
Red Cross offers bleak assessment of Afghan war (Washington Post) [ Well at least someone’s telling the truth about pervasively corrupt, defacto bankrupt america’s destructive, self-destructive, self-defeating perpetual war in Afghanistan … ‘…As the war affects more areas of the country, a growing number of Afghans have been caught in crossfire and thousands have fled their home towns, Reto Stocker, the head of the ICRC here, said during a news conference in Kabul. "We are entering a new, rather murky phase in the conflict in which the proliferation of armed groups threatens the ability of humanitarian organizations to reach the people who need their help," Stocker said. "The conflict is now in its 10th year. It is spreading. There is no end in sight." The assessment was unusually bleak and blunt for an organization that tends to be circumspect in public. ICRC officials in Afghanistan have a deep and nuanced understanding of the conflict because they have open lines of communication with all major armed groups, including the Taliban…’ ]
Senate overwhelmingly approves tax-cut deal (Washington Post) [ Yeah … you just have to shake your head and wonder with Davis … Timid Tuesday: Is it Safe? Davis ‘… This is how we pay off our current debts and I think bondholders are simply happy to get anything out of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The funniest thing about this (and you have to laugh) is to see Conservative pundits get on TV and talk about how we need to cut $100Bn worth of discretionary spending to "fix" this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year). There is no fixing this and even a Republican said you can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘]
A far-reaching $858 billion tax plan negotiated by the White House and Republican leaders sails through the Senate and is heading for a vote Thursday in the House, as lawmakers rush to prevent a New Year's tax hike from striking virtually every American household.
GOP members blame housing policy for financial plunge (Washington Post) [ Riiiiight! Anything but the actual reason, the pervasive (and unprosecuted as to the main, large perpetrators) fraud(s) on wall street! Congressionally appointed? Sounds like a (fraudulent wall street) plan … you know, they expect to get what they pay for! ] Study by a congressionally appointed panel highlights how differently the right and the left view the crisis.
$50B pledged to aid poor nations (Washington Post) [ Wow! The only real question is where defacto bankrupt america is on that list of poor nations to receive funds (and since mentioned, what’s britain’s place number.Talk about an ‘Alice in Wonderland’ world! Drudgereport: DEFICIT HITS RECORD...
MOODY'S May Cut US Rating on Tax Package...
New spending bill totals $1.1 TRILLION! / 16 Nightmarish Economic Trends To Watch Carefully In 2011 The American Dream Dec 15, 2010 ‘If you only watch the “economic pundits” on television, it can be very confusing to figure out exactly what is happening with the U.S. economy. One pundit will pull out a couple statistics that got a little bit better over the past month and claim that we have entered a time of solid recovery. Another pundit will pull out a couple statistics that got a little worse over the past month and claim that we are headed for trouble. So what is the truth? Well, if you really want to get a clear idea of what is really going on you have to look at the long-term trends. There are some economic trends which just keep getting worse year after year after year, and it is those trends that tell the real story of the decline of our economic system.
As you examine the long-term trends, you quickly come to realize that the U.S. is trapped in an endless spiral of debt, the middle class is being wiped out, the U.S. dollar is being destroyed and America is rapidly becoming a post-industrial wasteland.
Posted below are 16 nightmarish economic trends to watch carefully in 2011. It is becoming exceedingly apparent that unless something is done rapidly we are heading for an economic collapse of unprecedented magnitude (see infra)… / Howard Davidowitz on the Economy: "Here Are the Numbers ... WE'RE BROKE!" 11-25-10 ‘The U.S. economy "is a complete disaster," Howard Davidowitz declared here in July, the most recent in a string of dire predictions from Tech Ticker's most entertaining guest.On the eve of Thanksgiving, I asked Davidowitz if he had any regrets, or was ready to throw in the towel given recent signs of economic revival. Are you kidding me? "Here are the numbers...we're broke," Davidowitz declares, noting the U.S. government goes $5 billion deeper into debt every day and is facing $1 trillion-plus annual deficits for the next decade. "In other words, we're bankrupt."As with the economy, Davidowitz is unwaveringly consistent in his views on President Obama, calling him "deranged, dysfunctional and discredited."Results of the midterm election show "the people of this country think we are in a catastrophe," he says. "I'm with them."Check the accompanying video for more of Howard's unfettered opinions and stay tuned for additional clips from this interview. And...Happy Thanksgiving! Aaron Task is the host of Tech Ticker. You can follow him on Twitter at @atask or email him at altask@yahoo.com’ ] The 18 percent boost of a World Bank fund marks the arrival of some previous aid recipients as donors.
Afghan war's next big debate: Troop withdrawal –‘"differences of opinion" persist over the long-term goals ‘ (Washington Post) [ Long-term goals? What goals? You mean defacto bankruptcy of the nation … Already mission accomplished … Increase reasons for blowback and global anti-american sentiment … Again, mission accomplished … Greater reason to disapprove ‘leadership’ … Once again, mission accomplished … Drudgereport: DEFICIT HITS RECORD...
MOODY'S May Cut US Rating on Tax Package...
New spending bill totals $1.1 TRILLION!
Congress Job Approval Rating Worst in GALLUP History...
Socialist president plays host to capitalism...
REPORT: Obama told lawmakers not passing tax deal could end presidency...
A $48 billion earmark... … and, long-term as defined by at best, election cycles . ] Despite signs of progress from Obama's main counterinsurgency strategy, "differences of opinion" persist over the long-term goals.
QE2 Is a Failure Higher Yields Will Hurt Overbought Stocks Suttmeier ‘The primary purpose of QE2 was to force US Treasury yields lower to help consumers and home owners on Main Street USA. Since October 8th the yield on the 10-Year is 117 basis points higher, which in my opinion makes “QE2 A FAILURE”. Comex Gold remains between this week’s value level at $1377.4 and my monthly risky level at $1443.5. Nymex Crude oil is back below my weekly pivot at $88.76 this week. The euro is just above my quarterly pivot at 1.3318. The Dow Industrial Average closed above 11,444.08 to confirm another Dow Theory Buy Signal, but stocks are overbought on both daily and weekly charts. This week’s risky levels / pivots are 1242.9 SPX, 2643 NASDAQ, 5141 Transports, 770.13 Russell 2000, and 428.02 Sox. Stocks are overbought on both daily and weekly charts and ValuEngine shows fifteen of sixteen sectors overvalued. The Fed’s concerns are real, but their policy decisions are a failure.
10-Year Note – (3.453) Daily and semiannual pivots are 3.465 and 3.479 with a weekly risky level at 3.176, and annual pivots at 2.999 and 2.813, and quarterly, semiannual and monthly risky levels at 2.265, 2.249 and 1.949. The rise in yields is overdone technically.
Courtesy of Thomson / Reuters
Comex Gold – ($1397.6) Weekly, Quarterly, semiannual and annual value levels are $1377.4, $1306.4, $1260.8, $1218.7 and $1115.2 with a daily pivot at $1410.4, and monthly risky level at $1443.5. Gold has a negative divergence in momentum.
click on charts to enlarge
Courtesy of Thomson / Reuters
Nymex Crude Oil – ($88.30) Semiannual, annual and monthly value levels are $83.94, $77.05 and $75.50 with a weekly pivot at $88.76, and daily and weekly pivots at $88.92 and $88.76, and semiannual and annual risky levels at $96.53 and $97.29. Oil has negative MOJO.
Courtesy of Thomson / Reuters
The Euro – (1.3384) Weekly and monthly value levels are 1.3227 and 1.2500 with quarterly and daily pivots at 1.3318 and 1.3417, and semiannual risky level at 1.4733.
Courtesy of Thomson / Reuters
Daily Dow: (11,477) Semiannual, annual, monthly and quarterly value levels are 10,558, 10,379, 10,325 and 8,523 with annual and semiannual pivots at 11,235 and 11,296, and weekly and daily pivots at 11,467 and 11,446. The Dow is extremely overbought with overvalued fundamentals.
Courtesy of Thomson / Reuters
Fed Statement for the December 14th FOMC Meeting – Caution Prevails
· Information received since the Federal Open Market Committee met in November confirms that the economic recovery is continuing, though at a rate that has been insufficient to bring down unemployment.
· Household spending is increasing at a moderate pace, but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit.
· Business spending on equipment and software is rising, though less rapidly than earlier in the year, while investment in nonresidential structures continues to be weak.
· Employers remain reluctant to add to payrolls.
· The housing sector continues to be depressed.
· Longer-term inflation expectations have remained stable, but measures of underlying inflation have continued to trend downward.
QE2 Continues as Planned
· The Committee will maintain its existing policy of reinvesting principal payments from its securities holdings.
· The Committee intends to purchase $600 billion of longer-term Treasury securities by the end of the second quarter of 2011, a pace of about $75 billion per month.
· The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels for the federal funds rate for an extended period.
My Analysis – The low interest rate policy has not worked. QE2 is not working as intended, as US Treasury yields are rising not declining. The Federal Reserve should never have taken the federal funds rate below 3%, because zero to one percent rates for Wall Street simply ignites commodity speculation and creates bubbles including the housing bubble, which is still deflating. Low rates make it impossible for folks on Main Street living on a fixed income to earn money market rates high enough to drive consumer spending. The Fed’s concern about deflation is ludicrous, as food and energy prices move higher day to day. You cannot have a sustained economic recovery without a program that helps the housing market and resolves the problems that persist among community banks across the country.’
Europe Concerns Resurface: Dave's Daily - ‘It seems the on again off again euro zone troubles just keep coming. Wednesday it was Spain's turn in the spotlight with threats of credit rating downgrades. So, just when you think things are "fixed" they come unglued. This affair caused the dollar to rise and commodity related markets to fall as many investors get whipsawed about. Despite the rise in the dollar and another bout of POMO bonds continued to sell-off. It makes one wonder at the Fed's policies frankly since the effect thus far has been the opposite of policy intentions. Further, the rise in yields will eventually become a negative for equity investors as higher yields compete for investor dollars…’
Markets Are Overbought, But On With the Party Tradermark ‘The unshortable market continues. Even losing some of the "generals" doesn't seem to matter anymore. We are now at the halfway point of December and despite a huge run for the month, the two major indices (I don't consider Dow Jones to be useful as it is 30 stocks and price weighted) have each only suffered one day of drops: A crushing 0.1% drop in the S&P 500 on Dec. 6 and a debilitating 0.5% loss in the Nasdaq on the 13th. Other than that, every other day is a non-stop win (or tie).
[chart]
Just another in a series of V shaped moves (that were once rare) since QE1 began. Truly the only time this market acted normally these past 1.75 years was in a short period in late spring/early summer of 2010 when we were in between QE1 and QE1.5 (when the Fed decided it needed to begin buying Treasuries to keep its balance sheet from shrinking and before QE2 was announced) Each time I think to myself this market is overbought and needs a rest, I have to remember - this is not a market with normal price discovery ... overbought is only a state of mind. Dick Arms stated this morning, using his Arms index, the market is the most overbought in the nearly 50 years since he started the measure.
It has been nearly 50 years since I invented the Arms Index (also known as the TRIN) and wrote about it in an article for Barrons. Since then, the Index has had many big swings, most being very good signals. Now, in terms of both the five-day and the 10-day moving averages, the Arms Index is at its most overbought levels ever.
We did have a few drops during the QE 1, 1.5, and 2 campaigns such as July 2009. But other than a few weeks in November 2010 when Europe temporarily interfered with the "we can only go up or sideways" market, this has been a non-stop party since Jackson Hole, Wyoming, in late August.
Obviously at some point we are due to consolidate a now soon to be four-month move ... but a lot of fingers have been severed trying to use any historical pattern as to when this time will come. I continue to be amazed all the "free market capitalists" on certain TeeVee channels are applauding the Fed's intention to inflate assets... I guess intervention is super cool as long as it pushes things in the "right direction" versus a true market value.
Animated short illustrates Fed looting of America Freedom Watch | Discussion of an animated short which exposes Fed looting of America.
Stockman: A Leveraged Buy-out of the American Economy Zero Hedge | The only good outcome is that the great experiment of LBOing America by the kleptocratic elite is coming to its sad conclusion.
Goldman Sachs Hires N.Y. Fed’s Lubke, Point Man on Swaps Reform Bloomberg | Goldman Sachs hires N.Y. Fed’s Lubke as point man on swaps reform.
Visa and MasterCard Deny Service to Assange Supporters It looks like the financial elite and government are working hand-in-hand to make sure Julian Assange remains in custody as he awaits extradition to Sweden and the United States to stand trial.
Unemployed and Uncounted The 9.8% unemployment rate in the United States may be closer to 20%, or 30 million Americans without a job. Those measured are those who had a job before, are actively looking for work and are immediately available for work. Despite Washington DC having a somewhat healthy economy, so many residents here are left behind without a job, an income or any hope that things will get better.
Moody’s Put Spain’s Aa1 Rating On Downgrade Review, EURUSD Meets Gravity Moody’s Investors Service has today placed Spain’s Aa1 local and foreign currency government bond ratings on review for possible downgrade.
Sidestepping the U.S. Dollar, a Russian Exchange Will Swap Rubles and Renminbi Russia and China are poised to take a small but symbolic step in their expanding economic relationship, a move that in the long term could make the dollar less relevant to business between the two nations.
National / World
‘Martial Law UK’ tops Google following protest ban Infowars | Following a decision in the UK to ban protesting, the term “Martial Law UK” has gone viral.
Martial Law: UK Police Chief Mulls Banning Protests Paul Joseph Watson | Despite police being behind provocations that enraged demonstrators, Metropolitan commissioner considers using Public Order Act to kill free speech.
Constitutional Judo Giordano Bruno | How much are we willing to endure to see our ideals survive?
Secret Grand Jury Empaneled in Wikileaks Case Kurt Nimmo | Attorney Mark Stephens cited Swedish authorities.
When Americans Lose Everything, They Start To Lose It Paul Joseph Watson | Falling down: Gunman opens fire on school board over economic woes.
Martial Law: UK Police Chief Mulls Banning Protests UK police chief Sir Paul Stephenson is considering whether to ask the British government to ban protest marches altogether in response to last week’s student riots, a move that would place Britain under a de facto state of martial law.
The Age Of Rage: Europe Is Exploding Riots are sweeping Europe and the age of rage continues to intensify as the financial terrorists who caused the economic collapse now meter out the punishment for their own wrongdoing. Britain, Italy, Russia, and Greece are all gripped with unrest as 2011 shapes up to be the year of civil disobedience.
Warning Issued Over Mass Fingerprinting Of School Children The European Commission has warned that children in British schools are being mandated to submit their biometric information and being issued with “unique pupil numbers” with no oversight whatsoever.
Congress’ Job Approval Rating Worst in Gallup History Americans’ assessment of Congress has hit a new low, with 13% saying they approve of the way Congress is handling its job. The 83% disapproval rating is also the worst Gallup has measured in more than 30 years of tracking congressional job performance.
UCLA Prof: DREAM Act Will Help Illegal Immigrants Replace ‘Old White Men’ in Congress On Dec. 13, UCLA Professor Kent Wong gave an impassioned speech at a rally held at MacArthur Park in Los Angeles with DREAM Act supporters in attendance. During his speech, Wong says that illegal immigrants will one day replace the ‘old white men’ in the Senate.
When Americans Lose Everything, They Start To Lose It As Gerald Celente has often warned, when Americans lose everything, they will start to lose it, and nowhere was that more apparent than in the case of Clay Duke, the 56-year-old gunman who opened fire on school board members in protest against his wife being fired and his unemployment benefits running out.
Globalists Can Win Cyber War, But Not Information War The establishment has been desperately trying to implement legal control over the Internet. They’re attacking freedom of speech and the open Internet from all angles; through government tools, corporate methods, and even the courts. All three of these methods are converging in the WikiLeaks case, but that’s not the only battle being waged in the so-called “all-out cyber war.”
Who is Behind Wikileaks? Wikleaks is upheld as a breakthrough in the battle against media disinformation and the lies of the US government.
“Off With Their Heads”: A New Class Warfare Has Begun The media has not connected the dots: a new class warfare has begun. The attack upon the Royals exemplified the pent-up hatred building among a population that can no longer be cajoled into believing sacrifices to further enrich the über-rich are in the best interest of their nation.
Former Greek minister attacked by mob as riots break out in Greece A former government minister was stoned by a mob in Athens s riots broke out in the Greek capital in protest at the government’s austerity measures.
Europe Faces Accelerating Riots & Austerity Unrest in 2011 As austerity bites, Western Europe faces a near inevitable rise in protest and unrest in 2011 which is likely to hit markets and dampen weak governments’ appetite for reform but not affect policies dramatically.
Ireland: Safe Sales Soar as Worried Bank Customers Keep Money at Home SAFE sales are soaring as more and more worried bank customers stash their cash at home.
Uptick in rates puts Fed on alert (Washington Post) [ And just what kind of alert are we talking about here for the ‘no-recession fed’ … maybe Robby the Robot frantically spewing out, ‘danger (George) Will (Eugene) Robinson, danger Will Robinson, danger Will Robinson? … Producer prices in U.S. increased in November (WP) ] Interest rates are marching upward, diluting efforts by Congress and the Fed to strengthen the economy.
WikiLeaks founder not yet freed (Washington Post) [ ‘… Moore (correctly) asserts that Assange is under attack solely because he had the courage to expose American war crimes. Moore writes:
We were taken to war in Iraq on a lie. Hundreds of thousands are now dead. Just imagine if the men who planned this war crime back in 2002 had had a WikiLeaks to deal with. They might not have been able to pull it off. The only reason they thought they could get away with it was because they had a guaranteed cloak of secrecy....
So why is WikiLeaks, after performing such an important public service, under such vicious attack? Because they have outed and embarrassed those who have covered up the truth…’
Though Assange’s arrest was on far more tenuous grounds owing to a CIA-linked girl, Roman Polanski was similarly targeted:
BBC News - Roman Polanski triumphs at European Film Awards Dec 5, 2010 ... Roman Polanski's thriller The Ghost Writer wins six prizes at the European ... Polanski was working on the film at the time of his arrest in ...
www.bbc.co.uk/news/entertainment-arts-11921048 {I strongly recommend this, of course, masterfully done film which deals with exactly that topic and the sordid, unscrupulous machinations of the cia / u.s. (no wonder the u.s. opted out of coverage by world treaty / The Hague thereby) to avoid detection of, and to further such activities as the war crimes referenced.}
Don’t forget: america has their own untouchables in the illegal sense, ie., wall street, etc., and In interview, Bush defends Iraq war and waterboarding (Washington Post) [ Defending the indefensible … what choice does he have … then there’s the lies … ] Bush breaks silence, writes next chapter (Washington Post) [ As a failed president and war criminal himself, moron dumbya bush is among the few in the world that makes failed president wobama look plausibly good in comparison … wobama merely continued the failed policies of dumbya (perpetual war, no pros the frauds on wallstreet, etc.) that got pervasively corrupt, defacto bankrupt america to this point of decline and failure. ] Anne E. Kornblut Your take: His most memorable moment? [ Like regrets in that old song (his way) he’s had a few – http://albertpeia.com/evilonthetarmac.htm here’s a few: bushisms from bush the brain-damaged moron http://albertpeia.com/bushisms.htm :
Clinton Speaks: He Did It Because He Could - There Are Serial Killers On Death Row Who Have Killed Fewer People Than Unconflicted, Pathological Liar/Perjurer, Rapist, and Murderer, Psychopath criminal american clinton
· clinton Flashed ("Dropped his Drawers") Paula Jones and Implored Her To "Kiss It" (his p***s, which owing to distinctive "marking/disfigurement" she was able to describe)
· clinton "Cops a Cheap Feel/Grope" From Kathleen Willey In Attempting Prey Upon Her Perceived Vulnerability
· clintonites Threaten Dolly Kyle Browning In Attempting To Intimidate Her Into Giving False Testimony
· clinton Brutally Rapes Juanita Broaddrick
· clinton Was Asked To Leave Oxford Owing To Sexual Assault Of A Fellow Student
He Does It Because He Can
On March 11, 1999, Investor’s Business Daily reported that at least nine (9) women have now charged that Clinton "personally assaulted them or, through his ‘agents’ or ‘people,’ threatened to do them or their families physical harm." The list includes Dolly Kyle Browning, Gennifer Flowers, Juanita Broaddrick, Paula Corbin Jones, Kathleen Willey, Monica Lewinsky, Linda Tripp, Sally Perdue, and Elizabeth Ward Gracen. "And all of them say they’re afraid for their safety so long as he remains in power."
CLINTON BODY COUNT
By: Ether Zone Staff
Here is the latest body count that we have. All of these people have been connected with the Clintons in some form or another. We have not included any deaths that could not be verified or connected to the Clinton scandals. All deaths are listed chronologically by date. This list is current and accurate to the best of our knowledge as of January 13, 1999 August 1, 2000. (see complete list http://albertpeia.com/bodycount.htm ) …’ ]
Senate prepares for tax package vote (Washington Post) [ What’s outlandish is that the polls strewn and bandied about in support of this bill do not include an exclusion of the top 1%. I am no fan of taxes, especially the way they waste money for various nefarious interests, parties, agendas, illegal wars, etc.; but the nation is defacto bankrupt. Previous: Tax-cut package clears test in Senate (Washington Post) [ Drudgereport: DEFICIT HITS RECORD... MOODY'S May Cut US Rating on Tax Package... Senate reaches enough votes to move forward... Previous: Where does $250,000 a year go? (Washington Post) [ The point so aptly made by Davis hereafter and infra, is that ‘somethin’s gotta’ give, and the top 1% and the $1trillion in unnecessary war spending, for example, are the logical places to start. After all, the nation’s defacto bankrupt! Davis ‘… This is how we pay off our current debts and I think bondholders are simply happy to get anything out of a country that admits it owes $15Tn (1/4 of global GDP) but probably owes closer to $60Tn (entire global GDP) in the form of unfunded liabilities. The funniest thing about this (and you have to laugh) is to see Conservative pundits get on TV and talk about how we need to cut $100Bn worth of discretionary spending to "fix" this (while continuing to spend $1Tn on the military and $1Tn on tax cuts for the top 1% each year). There is no fixing this and even a Republican said you can’t fool all of the people all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS – PLEASE BE CAREFUL OUT THERE! ‘ ] In the heated battle over extending the expiring Bush-era tax cuts, a single number has emerged from the crossfire: $250,000. But just how flush is a family of four with a $250,000 income? Analysis examines what it's like to be a 'rich' family in America. ] ] The measure is expected to sail through the Senate with even stronger support than it received in a test vote this week, when 83 senators voted to advance the package in the strongest bipartisan vote on a major initiative since President Obama took office.
Meyerson: Save economy by keeping jobs here (Washington Post) [ Sounds like a plan! Unfortunately that rational plan flies in the face of what they’ve (the government, as celebrated by wall street, those think stink tanks among other ‘strategists’; ie., cia, nsa, etc.) actually done making the same all but impossible to unring that bell without ruffling the feathers of the monied interests that have ‘feathered their nests’, so to speak, as well as deconstructing, and reconstructing the irrevocable structural shift thereby. ]
Senate spending bill is loaded with earmarks (Washington Post) [ Well what else are spending bills for … to spend of course … and we all know the defacto bankrupt nation can afford it… Drudgereport: DEFICIT HITS RECORD...
MOODY'S May Cut US Rating on Tax Package...
New spending bill totals $1.1 TRILLION!
$575 million PER PAGE...
6,488 earmarks...
McConnell fumes: 'No one has seen it'... Howard Davidowitz on the Economy: "Here Are the Numbers ... WE'RE BROKE!" 11-25-10 ‘The U.S. economy "is a complete disaster," Howard Davidowitz declared here in July, the most recent in a string of dire predictions from Tech Ticker's most entertaining guest. On the eve of Thanksgiving, I asked Davidowitz if he had any regrets, or was ready to throw in the towel given recent signs of economic revival. Are you kidding me? "Here are the numbers...we're broke," Davidowitz declares, noting the U.S. government goes $5 billion deeper into debt every day and is facing $1 trillion-plus annual deficits for the next decade. "In other words, we're bankrupt."As with the economy, Davidowitz is unwaveringly consistent in his views on President Obama, calling him "deranged, dysfunctional and discredited."Results of the midterm election show "the people of this country think we are in a catastrophe," he says. "I'm with them."Check the accompanying video for more of Howard's unfettered opinions and stay tuned for additional clips from this interview. And...Happy Thanksgiving! Aaron Task is the host of Tech Ticker. You can follow him on Twitter at @atask or email him at altask@yahoo.com’ ] Weeks after swearing off earmarks, many senators stand to gain tens of millions of dollars for pet projects in a massive $1.2 trillion measure. House Democrats consider estate tax amendments
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.scribd.com/alpeia
http://alpeiablog.blogspot.com
http://www.albertpeia.com/wallstreetlunacy2ndqtr10108.htm
You may post a comment on my blog on any topic: http://alpeiablog.blogspot.com
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