Al Peia's Blog: December 2, 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 ]

Bulls Charge On With Blinders: Dave's Daily ‘More POMO ($8.3 billion), better Retail Sales reports and Pending Home Sales data (+10.4%) allow bulls to build on yesterday's rally. Any worries from Europe, China tightening, higher Jobless Claims are mere inconveniences when the light is a bright green. Let's face it. This is what the Fed stated they wanted with their POMO activities -- higher prices overall with higher stock prices emphasized. The Fed prints money and buys bonds from the Primary Dealers and (wink, wink) they know what they're supposed to do with it. Bears just better get out of the way. Friday presents the unemployment report which should be a nonevent if numbers are bad -- remember, and keep repeating this mantra as you try to reason with events: "bad news is good, good news is better." That should do the trick…’

Phillips ‘…Goldman analysts opine about the potential for euro-credit “contagion,” as well as freakouts tied to the parlous state of U.S. finances. Likewise, UBS analysts are expecting problems — should they arise — to erupt from the bond markets. “We believe that credit disruptions — whether they emanate from the banking system, the mortgage market, U.S. municipalities, or from abroad — will be the likely culprit should the stock market behave poorly in 2011,” they wrote.’

Initial Weekly Claims Rise 26,000 [ Bad, worse than expected news … stocks rally … what fraud / b*** s***. ] ]NEW YORK (TheStreet) – ‘The number of Americans filing unemployment claims for the first time rose more than expected last week, the Labor Department said early Thursday. The advance figure for seasonally adjusted initial claims increased by a higher-than-expected 26,000 to 436,000 in the week ended Nov. 27, from the previous week's upwardly revised estimate of 410,000. Analysts were expecting initial claims to rise to 422,000, after it dropped to 407,000, its lowest level since July 2008 in the previous week. The number of Americans filing continuing claims -- those who have been receiving unemployment insurance for at least a week -- came in higher than expected at 4.27 million for the week ended Nov. 20, an increase of 53,000 from the previous week's revised figure of 4.217 million. Consensus estimates projected continuing claims to come in at 4.2 million. The four-week moving average in initial claims, which smoothes the volatility in week-to-week reports, was 431,000, a decrease of 5,750 from the previous week's revised average of 436,750. The four-week moving average in continuing claims was 4.288 million, a decrease of 29,250 from the preceding week's revised average of 4.317 million. The numbers do not include millions of those who claim benefits under the extended unemployment benefits program. The advance seasonally adjusted insured unemployment rate was 3.4% for the week ending Nov. 20, unchanged from the previous week's upwardly revised level of 3.4 percent…’

Come on! Suckers’ rally to keep the suckers suckered! 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 ]

Smart Money Playing Defense

Delegge ‘… Is the euro (NYSEArca: FXE - News) heading for a breakup? Many well-heeled investors like George Soros have publicly expressed their doubts about the long-term viability of the euro. The cost of borrowing has jumped for euro-land governments with weaker economies even though they are all part of the same currency union, which implies ongoing financial aid from stronger members…’

Arrest Assange? Arrest the Banksters Instead [ I quite agree, and for the reason stated plus the fact that Assange is a world class hero! ] Kurt Nimmo | Assange’s supposed crimes pale in comparison to the unprecedented grand theft larceny pulled off by Wall Street, the banksters, and the global financial elite.

Financial oligarchy dictates terms of Irish bailout Jordan Shilton | While ordinary working people will suffer the devastating consequences of the deal, the bailout ensures that the financial speculators whose criminal activity brought about the crisis will escape unpunished.

Fed Withholds Collateral Data for $885 Billion in Financial-Crisis Loans Bloomberg | The Federal Reserve withheld details on individual securities pledged as collateral by recipients of $885 billion in central bank loans.

Fed aid in financial crisis went beyond U.S. banks to industry, foreign firms Washington Post | The financial crisis stretched even farther across the economy than many had realized.

Chinese Gold Imports Surge By 500% Through October All who thought that China was merely posturing when it announced a few days back it was creating a fund to allow its domestic investor base to allocated capital to foreign gold ETF, may wish to reconsider after it was disclosed late last night that China gold imports jumped by 500% in the first 10 months compared to all of 2009 on concerns of rising inflation according to the Shanghai Gold Exchange.

Fed May Be `Central Bank of the World’ After UBS, Barclays Aid Federal Reserve data showing UBS AG and Barclays Plc ranked among the top users of $3.3 trillion from emergency programs is stoking debate on whether U.S. regulators bear responsibility for aiding other nations’ banks.

Fed Data Shows Foreign Banks Huge Beneficiaries of Emergency Lending Programs, Hedge Funds, McDonald’s, Harley-Davidson and Others Also Bailed Out Under orders from Congress pursuant to the Dodd-Frank financial legislation, the Fed has finally released details of its emergency lending starting in 2007.

Fed Wealth Grows While Others Drown In Debt [ Yet, these ledger entries / transactions are, as in the kiting of checks, ultimately illusory, worth less, and with the rest of the worthless paper, will end quite badly. ] The Federal Reserve’s balance sheet grew a 4th straight week to $2,328 trillion, up $31 billion in a week. In May the balance sheet was $2,333 trillion.

Are Stocks Cheap? [ Reality’s short anwer: NO! NO! NO! ] Simon Maierhofer, On Tuesday November 30, 2010 Are Stocks Over Loved and Over Valued? [ Is the Pope Catholic? Do bears s*** in the woods? … Reality’s short answer: YES! YES! YES! ]
Simon Maierhofer, On Monday November 22, 2010 ‘Momentum and perception are the big intangibles of the investing universe. Nobody knows exactly when the investing masses' mojo will turn on or off, overheat or over correct.Valuations, similar to gravity, are the big equalizer. In a world of uncertainty, valuations are the one thing you can rely on. Getting valuations right is one thing, figuring out when valuations will exercise their gravitational pull on stocks (NYSEArca: VTI - News) is another.
Using Valuations as a Guide
When planning a trip from point A to B, you need to know where A and B are. If you don't know your destination, you will most likely end up some place you don't want to be. Failing to prepare is preparing to fail.Fair valuations are the final investment destination. If you invest in an undervalued market or stock and have the patience to let the market do its magic, your investment will be profitable 9 out of 10 times.If you invest in an overvalued market and don't get out in time, odds are that your journey will end in tears.
Asking the 'Valuation Guru'
Charles Dow, the founder of the Wall Street Journal and inventor of the Dow Jones Averages was an astute student of valuations. According to Mr. Dow, a correct understanding of valuations is the single most important ingredient to investment success. If Mr. Dow was still alive, what would he say about today's market? Would he tell you to buy or sell?Let's examine the most basic and probably purest measure of value: Dividend yields.Unlike P/E ratios, dividend yields can't be fudged and massaged. Companies with a healthy cash flow use their financial prowess to attract and retain buy-and hold type investors with juicy dividend checks.The dividend yield is expressed as a percentage of the stock price and can rise for two reasons: 1) stock price drops or 2) dividend payment increases. As a rule of thumb, the higher dividend yields, the healthier valuations.
Dividend Yield - Buy High, Sell Low
It's human nature to want what you can't get. Current yields are low, but everybody wants income, so investors are willing to risk the return of their money for return on their money. Current yields are close to an all-time low, so it's fair to assume that stocks are overvalued.The opposite was true in the first quarter of 2009. A variety of ETFs yielded close to or even more than 10%. The Financial Select Sector SPDRs (NYSEArca: XLF - News) and Vanguard Financial ETF (NYSEArca: VFH - News) paid more than 7%.Dividend ETFs like the iShares DJ Select Dividend (NYSEArca: DVY - News) and SPDR S&P Dividend ETF (NYSEArca: SDY - News) had yields north of 6%, and even plain value ETFs like Vanguard Value (NYSEArca: VTV - News) and iShares Russell 1000 Value (NYSEArca: IWD - News) paid more than 4%.The problem at that time was that nobody was interested in yield. Investors shunned stocks and yields like cats shun water. Within a week of prices bottoming and stocks beginning to rally, the ETF Profit Strategy Newsletter recommended to load up on dividend-rich ETFs.Here's the newsletter's March 2, 2009 recommendation: 'This counter trend rally will have to be broad and powerful in order to relieve investor's pent-up urge to buy. Dividend ETFs with a higher allocation to financials are likely to rise higher than the broad market. Some of the dividend yields are quite juicy and can help to offset timing mistakes.'

Beware of the Yields Trap

Since then, the S&P (SNP: ^GSPC) has risen as much as 84%, the performance for the Dow Jones (DJI: ^DJI) and Nasdaq (Nasdaq: ^IXIC) has been similar. What about dividend yields?If the March 2009 lows marked a true market bottom, dividend payments should have increased somewhat proportionally to stock prices. They didn't. In fact, yields today are lower than they were at the March 2009 bottom.In March 2009 the dividend yield for S&P 500 constituents was 3.6%. By multiplying 3.6% with the March 2009 low of 666 we arrive at a dividend yield of 23.98 points. In October 2010, the S&P yielded 1.97%. Based on an S&P at 1,200 points, this represented 23.64 points, 0.34 points less than at the March 2009 bottom.Hunting after yield without considering the risk at current prices is similar to maxing out your credit cards just to rack up frequent flier miles. The return comes at a (long-term) cost.
Beware of the Earnings TrapIn my humble opinion, earnings are more than just a trap, they are a minefield. According to the numbers we are fed, earnings have already surpassed the threshold reached at the peak of the dot-com bubble and are projected to eclipse even the 2007 all-time record high in 2011.If this doesn't strike you as odd, take a moment to examine the chart below. Leading up to the 2007 stock market and earnings high, we had consistent GDP growth (not historically great but steady). The real unemployment rate (U-6, published by the Bureau of Labor Statistics) was 8.4%.[chart]Today, GDP is sputtering (and inflated by government subsidies) and U-6 unemployment has more than doubled to 17%. For those who prefer to go by the media's more palatable U-3 jobless number, it has soared from below 4.7% to 9.6%. Does that look like the kind of environment that would produce record high earnings?I don't think it would be presumptuous to wonder if financial engineering and massaging the books has something to do with high earnings. Remember the 157 rule change which allows banks (NYSEArca: KBE - News) to hide real estate losses (see June 2010 ETF Profit Strategy Newsletter for a detailed analysis).Even when assuming that current earnings are for real, the P/E ratio (high earnings translate into a lower P/E ratio) is still historically elevated. Admittedly not as much out of line as a year ago, but still high.

Don't Bet Against Valuations

Buying into an overvalued market and expecting a long-term gain, is like sowing seed in the winter and expecting to reap in the summer - it doesn't work that way.Of course, over the short-term, markets can defy valuations and make disciplined investors look like temporary fools. But, as the 2000 and 2008 declines have shown, there are no shortcuts to long-term success.The most intriguing facet of dividend yields and P/E ratios is that they tend to pinpoint major market bottoms. All historic market bottoms had one thing in common: super high dividend yields and ridiculously low P/E ratios.Based on this historic clue, the March 2009 bottom looks more like a fake than a major bottom. Just as ice doesn't thaw unless the temperature rises above 32 degrees, the market doesn't bottom until P/E ratios and dividend yields signal that a valuation reset has occurred.The December issue of the ETF Profit Strategy Newsletter includes a detailed analysis of P/E ratios, dividend yields, and two other benchmarks of value-based forecasting plotted against historic charts of the S&P 500 and Dow Jones.A picture paints more than a thousand words, and the featured chart shows how overvalued stocks are and how far they have to drop before a sustainable new bull market can begin.’

John Hussman's Index: Stocks Are 13% Overvalued John Hussman, manager of Hussman Strategy Growth Fund (HSGFX), proposed price to peak 10 year average earnings as a long term stock market valuation metric. Compared with the normal one year price to earning ratio, Price to Peak Earnings would eliminate short term noise. This is similar to Shiller's ‘Cyclically Adjusted Price Earning’ ratio (CAPE10) and Warren Buffett’s stock market GNP/GDP metric.In his weekly commentary on Dec 5, 2005, titled as 'Earnings Revert to the Mean, Stocks Will Struggle', he proposed a simplistic method: "buy when Price to Peak Earnings is lower than 15 and sell when it exceeds 19.5". John Hussman has been using this as the valuation yardstick to manage the Hussman Strategic Growth Fund HSGFX.A model portfolio called P Hussman Peak PE Market Timing Strategy Buy 15 Sell 19.5 Weekly is also maintained to live monitor the strategy suggested in 'Earnings Revert to the Mean, Stocks Will Struggle'. click [chart] On Nov 19, 2010, the ratio of Real Price to the average of last 10 year Peak Real Earnings (13.44) to its long term average (11.93) is 1.13. The US stock market is 13% overvalued. We will be tracking this number biweekly.

Howard Davidowitz on the Economy: "Here Are the Numbers ... WE'RE BROKE!" 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 ‘Is it safe?

Is what safe?

Is it safe?

I don’t know what you mean. I can’t tell you something’s safe or not, unless I know specifically what you’re talking about.

Is it safe?

Tell me what the "it" refers to.

Is it safe?

Yes, it’s safe, it’s very safe, it’s so safe you wouldn’t believe it.

Is it safe?

No. It’s not safe, it’s… very dangerous, be careful.

One could only wish we could torture the MSM pundits the way the evil dentist tortured Dustin Hoffman in Marathon Man - these guys cannot give us a straight answer and, frankly, we’re not even sure what the question is anymore. Is it safe to buy bonds? Is it safe to buy stocks? Is our currency safe? Are commodities safe?

All this uncertainty is certainly boosting gold and, although I am no fan of gold speculation, we did take a gold hedge in last Tuesday’s Alert to Members and on Wednesday our market hedge was a 500% hedge on the Russell that goes 100% in the money right about 730. Monday’s upside Alert play was a 1,000% payoff on FAS that’s already all in the money – it’s a crazy market when your longs and your shorts work at the same time!

That’s the sort of thing that gave us the confidence to restart the "$10,000 to $50,000 by Jan 21st" virtual portfolio as we were halfway to goal at $26,000 when we cashed out in early October. We didn’t like the market then for directional plays and we still don’t but now we’re taking the opportunity to practice our short-term trading techniques in this choppy market. As you can see from David Fry’s Nasdaq chart above, we’re in a critical zone and the chips are literally flying every which way – our job is just to reach in and grab a few.

Yesterday we focused on the DIA (always a favorite) $112 calls, which opened at .94 and we took 20 at the open and stopped out with a quick .10 loss ($200) just 10 minutes later as the Dow failed to hold 11,000. We took a re-load with 30 at .75 at 11:12, stuck out the dip to .70 and cashed back out at $1.05, for a very nice $900 gain on our second attempt. We need to average $500 a day to get to our goal by Jan 21st, so we’re off to a fine start already!

CHART

The key to day-trading options is paying close attention to your channels. In more certain market conditions, we would have rode out the initial drop and doubled down at .75 for a .80 average entry on 40 contracts but 11,000 was a key breakdown and we couldn’t be sure the S&P 500 would hold 1,177 so it wasn’t worth taking the chance.

CHART

As you can see from David’s S&P chart, we did get our hold at 1,177 and between looking stronger at the 1,180 line and our anticipation of the day’s POMO by the Fed, we were brave enough to test our buy premise for the 2nd time. We’re also getting used to these sell-offs into the close and we know to take the money and run sooner, rather than later. I called an end to this trade at 3:29 in Member Chat as we have no reason to be greedy on a 40% day’s gain.

That left us with a bearish play on one of our high flyers and a bullish play on the Financials as we need something to the upside, just in case but I can assure you our hearts are not in the bull side just yet because no one can answer the question – "Is it safe?"

That’s why we have 1,000% plays to the upside hedging 500% plays to the downside – we don’t know what’s going to happen but we sure do think something is going to happen pretty soon! So, we construct plays that give us great pay-offs in either direction which enables us to use just a little bit of our sideline cash on trades that can give us a 5x and 10x payoff. We don’t really care what the market does and, in fact, when it does nothing – as it has been for a week – we can win on both sides! This is what hedging is all about – striking a balance that allows us to take advantage of opportunities in either direction or no direction at all.

There is risk, of course, and the risk we take on these spreads is usually being forced to own the underlying stock or ETF at a discount (see "How to Buy Stocks for a 15-20% Discount"). This is just fine as long as you only play things you really do want to own at the assignment price so always keep that in mind – we expect to have the losing side put to us and we are pleasantly surprised if it isn’t but, if it is, we are happy to be long-term owners in, for example, QID.

Speaking of QID, it is the Nasdaq we’ll be looking to short if the Dow and the S&P 500 break down as they certainly have the most to lose next to the Russell, who we are already short on. We already have longer-term QID spreads, also in the 500% range, that we were using at the top to guard against a move back to $50 on the Qs. The Qs are always fun to play with as they have weekly options and we love our weekly option plays! Oil is another short play on our radar but we were hoping for a more bullish surge last night to give us a better entry than $86. Now the dollar is back to 81.40 and oil can’t even hold $85 – pathetic!

That’s not stopping gold as it is perceived as "safe" by millions of global investors who are liquidating their Euros. $130Bn floated to Ireland Monday morning didn’t even keep the EU markets up through lunch-time as they dropped about 2% on the day, closing at the lows. This morning, after gapping up (bouncing) half a point at the open, the EU markets are now down about half a point during lunch. As Martin Weiss points out:

The authorities had hoped that Irish bond yields would come down sharply, helping to avert a disastrous, additional interest burden for the government. Instead, bond investors have dumped Irish bonds with both hands, driving their prices down and yields up. Exactly seven days ago, on the morning after the big bailout announcement, the yield on Ireland’s benchmark 10-year government bond was near 8 percent. Now, it has surged by more than a full percentage point to 9.17 percent. That extra interest cost alone threatens to eat up a big chunk of the bailout money.

That doesn’t sound "safe" at all, does it? As I said to Members in my Weekend Post, where we examined the Dollar chart – "I’m not a TA guy, but dollar bears should be very concerned if we break up here as conditions are ripe for a big run." At the height of the last Greek debt crisis — on February 8, 2010, to be exact — the cost of insuring a €10 million 5-year Greek government bond reached a peak of €420,855. But last week, the cost on the exact same instrument had surged above €1,000,000! Who is going to keep their money in Europe under those conditions? Notorious bond pimp, Mohamed El Erian was on CNBC this morning, calling for action before his investments turn sour! Europe isn’t "safe", California isn’t "safe", giving money to Timmy certainly isn’t "safe" and borderlines irrational. Asia may not be "safe" either so where is a man with $1Tn under management supposed to go? I’ll be the first one to chip in to send El Erian and Bill Gross to another planet so they can wreck their economies for a change – who’s with me?

Of course the boys from Pimpco are already trapped in their own little hell with pretty much every nation on Earth defaulting on debt. What, you say? Who is defaulting on debt? Pretty much everybody says I and so says the Market Oracle, who have a nice article with "eight-by-ten colour glossy photographs with circles and arrows and a paragraph on the back of each one explaining what each one was to be used as evidence" that makes the very good point that inflation, quantitative easing or whatever you want to call it is simply a default on debt only it’s the kind of default where you pretend to pay back the debt but you pay it back with worthless bits of paper that in no way, shape or form resembles the value of the paper you were lent. That’s default folks!

How is it better to have a global policy of "extend and pretend" that amounts to nothing more than a multi-trillion Dollar massive default against bondholders (as their debts get canceled for monopoly money) than to just honestly restructure global debt so we can all see where we actually stand and reorganize (because that’s what bankruptcies are supposed to help us do) in order to move forward more responsibly in the future. It is not "safe" to pretend that the global markets are functioning correctly and to keep taking new investors capital in this global Ponzi scheme that is, in fact, collapsing right now!

What’s beginning to unravel, even in this "brilliant" scheme is that investors are starting to wise up and are reluctant to put more money into money-printing nations like the US, the EU and Japan. Even China had a failed bond auction last week and Spain is having them weekly with the last auction not filling at 5% and we’re already up to 5.25 with 5.5% likely on the next offering. At 6%, the wheels begin to come off the El Autobus and then all bets will be off in the EU.

The US has "solved" the problem of waning interest in our TBills by selling them to the Fed and I encourage anyone who has debts to try this at home. Simply take out your checkbook and give your spouse some deposit slips. Let them go upstairs so you don’t feel like it’s all being done in the same room. Then have your spouse put down whatever number you need as a deposit, which you can then immediately write checks against. If anyone wants to know where your wife got the money – she can say – well my husband clearly made an entry in his checkbook that we had the money and that’s the money I’m using to give him! See, who can argue with that kind of logic?

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.

(12-02-10) Dow 11,362 +106 Nasdaq 2,579 +15 S&P 500 1,221 +25 [CLOSE- OIL $88 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $3.00 (reg. gas in LAND OF FRUITS AND NUTS $3.15 REG./ $3.29 MID-GRADE/ $3.39 PREM./ $3.79 DIESEL) / GOLD $1,388 (+24% for year 2009) / SILVER $28.53 (+47% for year 2009) PLATINUM $1,711 (+56% for year 2009) / DOLLAR= .75 EURO, 83 YEN, .64 POUND STERLING, ETC. (How low can you go - LOWER)/ http://www.federalreserve.gov/releases/h15/update 10 YR NOTE YIELD 2.96% …..… 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

“Police State” episode of hit Ventura show covering FEMA camps pulled from air Infowars | Alex Jones, a consultant to TruTV’s Conspiracy Theory, can confirm that the controversial episode “Police State,” dealing with FEMA camps and fusion centers, has been essentially “memory-holed” due to behind the scenes pressure.

The Secret The TSA Doesn’t Want You To Know Paul Joseph Watson | Big Sis has been quietly preparing the groundwork for the total takeover of all public transport and highways by federal government goon squads.

‘Bankers or us’ tops Google trends Infowars | Today’s #1 search term signifies a grassroots revolt in the Infowar against the economic war being waged against ordinary Americans

Who Precisely Is Attacking The World? Paul Craig Roberts | The stuck pigs are squealing.

Arrest Assange? Arrest the Banksters Instead [ I quite agree, and for the reason stated plus the fact that Assange is a world class hero! Sweden should focus on their own major criminals of old … Swedish royal family hit by fresh Nazi allegations Sweden’s royal family has been rocked by a new scandal which has exposed the hidden Nazi past of the Queen’s father, only weeks after its reputation was shattered by lurid disclosures about the king’s secret sex life. ] Kurt Nimmo | Assange’s supposed crimes pale in comparison to the unprecedented grand theft larceny pulled off by Wall Street, the banksters, and the global financial elite.

The Secret The TSA Doesn’t Want You To Know While many Americans think they can skip being sexually molested at the hands of the TSA by avoiding airports, Big Sis has been quietly preparing the groundwork for the total takeover of all public transport and highways by federal government goon squads.

Arrest Assange? Arrest the Banksters Instead So-called “fiscal conservative” radio talk show host Todd Schnitt has posted a $50,000 reward for information leading to the capture of “WikiLeaks menace” Julian Assange. Schnitt, who hosts a radio show in Tampa, Florida, says Assange is a terrorist and an enemy combatant “who needs to be treated as such,” according to a wanted poster on Schnitt’s website.

Ron Paul: US “Counterfeit Machine” Will Lead To Political, Social Chaos Texas Congressman Ron Paul, active member of the Committee on Financial Services, appeared on MSNBC today and issued a stark warning to viewers regarding the continuing debt crisis: reduce the deficit now or face mass political and social chaos.

Warrant To Be Issued For Cheney Arrest Via Interpol The prosecuting counsel for the country’s Economic and Financial Crimes Commission said that indictments will be handed down in the next three days and that an arrest warrant for Cheney “will be issued and transmitted through Interpol.”

Max Keiser’s Plan To Destroy JP Morgan Goes Mainstream, After The Guardian Posts His “Silver Squeeze” Thoughts As Zero Hedge readers know, the reason why the US mint sold a record amount of silver American Eagle coins in November is unlikely a coincidence, and very possibly an indication that the recently disclosed plan as espoused by the MKs (Mike Krieger and Max Keiser) to destroy JP Morgan is working.

WikiLeaks II – A Government Caught Up in Mendacity and Lies The reaction to WikiLeaks and its founder, Julian Assange tells us all we need to know about the total corruption of our “modern” world, which in fact is a throwback to the Dark Ages.

WTC Steel Was So Hot It Bent Without Cracking & Fused With The Concrete Carbon fire can’t melt steel.

Debt = Money, Money = Debt Where does money come from? You would think that question should be so simple that any 10-year-old child could answer it, but that is not the case. You see, the truth is that the vast majority of American adults cannot even answer that question.

Corrupt, incompetent, zionist ‘being there’ zelig of man, lieberman, Has Power To Shut Down Websites With A Phone Call The corrupt, incompetent, zionist ‘being there’ zelig of man, lieberman, the man behind legislation to give President Obama a kill switch for the Internet in the move towards a Chinese-style government controlled world wide web, now has the power to shut down websites with a mere phone call, as was underscored yesterday when Amazon axed Wikileaks from its servers after being pressured to do so by Lieberman’s Senate Homeland Security Committee.

Drudgereport: 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! ]
Nation's '2nd Most Dangerous City' (camden, new jersey) To Lay Off Nearly Half Of Police Force... 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...
MORE SECRETS: Fed Withholds Data for $885 Billion in Loans... RUSSIA TO HOST '18 WORLD CUP FINALS...
Qatar selected '22 host over USA, others... 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 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 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 ) ]

Deficit panel offers compromises (Washington Post) [ Compromise? Talk about Irock and a hard place! What? Fantasy? Is this some parallel universe they’re operating in? Come on! Davis has a realistic studied perspective: Davis weighs in with reality (and see infra) ‘ … 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! … ‘ ] Commission shows surprising willingness to compromise on issues that long divided Republicans and Democrats.

Russia: Putin warns of arms buildup (Washington Post) [ Drudgereport: 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... ]

Fannie, Freddie: Mortgage servicers triggered crisis (Washington Post) [ ‘Defend their role’ … literally … After all, culpability is in such short supply that the same must rationed with every culpable party fighting for a little piece of the action … then as well, there’s that raison d’etre thing which such as fannie / freddie say shows they’re contributing by giving federal employees everywhere something to do … and, pointing fingers is clearly a consequence of blame being in such short supply indeed as well … whew! ]The mortgage giants defend their role in the foreclosure crisis.

Amazon stops hosting WikiLeaks Assange hiding from Interpol Thwarting WikiLeaks coverage Unflattering portrait of Moscow (Washington Post) [ Wow! Sounds like neo-nazi-zionist america … you know, burn all those non-flattering sources of information / reality. The real clue here was the source of speech suppression / oppression; viz., that corrupt, incompetent, zionist ‘being there’ zelig of man, lieberman, et als. 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.]... ]

Fed aid in crisis went beyond U.S. banks (Washington Post) [ Drudgereport: 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.
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 discussion of ‘bystander effect’ / diffusion of responsibility. ) - Having had occasion to have run down a mugger in newark, n.j. who apparent 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 ) ]

EU-US Back-Scratching Society: Dave's Daily – ‘The worries over eurozone troubles were absent Wednesday as it was assumed the U.S. would back any rescue of troubled sovereign debt issues. This was well-hyped but then later denied by the Treasury. No matter, bulls were not about to be slowed by inconvenient facts shifting instead to better economic data. As the Fed Beige Book reported modest economic growth was continuing and the ADP Jobs Report showed 93K job growth in the services sector. Also Labor Productivity rose 2.3% but ISM factory index was lower. Oh, and just in case you missed it, there was another round of POMO Wednesday to keep markets and FOFs (Friends of the Fed) well-lubed. In this operation, many of the bonds purchased from the Primary Dealers were from the auction last week so the shell game continues. Further, how much more can the Fed print to shore up the EU? We had four days of stock market declines and had gotten short-term oversold so a bounce wasn't surprising. Let's not forget this is the best month of the year and those daring to be short were squeezed. Finally, let's remember what bullish month and season we're in now. Volume was higher than previous market melt-ups and breadth was quite positive but not quite a 90/10 day by current data.’

Private employers add jobs, manufacturing grows (Reuters) [ Come on! That ‘jersey-based adp thing’? That ‘better than expected thing’? Then there’s ‘the Institute for Supply Management said its index of national factory activity dipped to 56.6 last month from 56.9 in October’ which is bad but what the heck, this is a good month for stocks, that’s what they say, you know, Santa Claus rallies, etc., and you believe in Santa Claus … riiiiight!’ How can anyone believe anything they say? ] ‘…Even though economists cheered the job gains, they noted the labor market still has a long way to go. Friday's jobs report is forecast to show the U.S. unemployment rate remained at 9.6 percent in November. Also, the number of planned layoffs in November by U.S. employers rose to the highest since March, according to a report by consultants Challenger, Gray & Christmas, Inc. Employers announced 48,711 planned job cuts last month, up 28 percent from 37,986 in October, with the government and nonprofit sector leading the rise, the report showed. A government report showing construction spending posted a 0.7 percent gain in October provided a more upbeat view of the economy. Expectations had been for a 0.4 percent decline in spending, a Reuters poll showed…’

New Home Sales Fell 8.1% in October Suttmeier ‘For the 10-Year yield my annual value level is 2.999 with a annual pivot at 2.813, and quarterly and semiannual risky levels at 2.265 and 2.249. Gold remains above its 50-day simple moving average at $1345.8. My quarterly value level is $1306.4 with weekly risky level at $1401.6. Crude oil is just above my semiannual pivot at $83.94 with this week’s risky level at $84.89. The euro is below my quarterly pivot at 1.3318 and its 200-day simple moving average at 1.3129 on Monday. The Dow is below its 50-day at 11,062, which indicates risk to my semiannual and annual pivots at 10,558 and 10,379. My annual and semiannual pivots are 11,235 and 11,296. New Home Sales declined in October along with home prices.

10-Year Note – (2.826) My annual value level is 2.999 with daily, annual and weekly pivots at 2.855, 2.813 and 2.816, and monthly, quarterly and semiannual risky levels at 2.380, 2.265 and 2.249.

Click [chart] Courtesy of Thomson / Reuters

Comex Gold – ($1366.3) Quarterly, semiannual and annual value levels are $1306.4, $1260.8, $1218.7 and $1115.2 with my monthly pivot at $1373.0, and daily and weekly risky levels at $1381.7 and $1401.6. Watch the 50-day simple moving average at $1345.8.

[chart] Courtesy of Thomson / Reuters

Nymex Crude Oil – ($85.74) Monthly and annual value levels are $78.51 and $77.05 with semiannual, daily and weekly pivots at $83.94, $84.01 and $84.89, and semiannual and annual risky levels at $96.53 and $97.29.

[chart] Courtesy of Thomson / Reuters

The Euro – (1.3119) My monthly value level is 1.2709 with daily and quarterly pivots at 1.3321 and 1.3318, and weekly and semiannual risky levels at 1.3688 and 1.4733. The euro is below its 200-day simple moving average at 1.3129.

[chart] Courtesy of Thomson / Reuters

Daily Dow: (11,052) Monthly, semiannual, annual and quarterly value levels are 10,848, 10,558, 10,379 and 8,523 with daily, annual, semiannual, and weekly risky levels at 11,197, 11,235, 11,296, and 11,469. The Dow is below its 50-day simple moving average at 11,063.

[chart] Courtesy of Thomson / Reuters

New Home Sales Fell 8.1% in October - According to the Commerce Department New Home Sales fell 8.1% in October to a 283,000 annual rate, and sales are down 28.5% year over year. This report came out before Thanksgiving last week and followed a weaker than expected reading for Existing Home Sales.Home builders have slowed the pace of building as banks are stingy with regard to construction loans. There are only 202,000 new homes available for sale, the lowest since June 1968.New homes are under downward price pressures with the median price dropping a record 13.9% in October to the lowest level since October 2003. The price decline was 9.4% year over year.’

Street Renews Slump After Case-Shiller Shows Home Prices Slip Schaefer ‘…. The housing market's woes returned to center stage with the S&P/Case-Shiller home price index, which showed declines are accelerating in the largest U.S. cities. On a year-over-year basis, the index's 20-city gauge inched up 0.6% from a year ago in September, but the figure was down 0.7% from the month prior as 18 of the 20 cities saw declines. Prices were rising through July, buoyed by the government's home buyer tax credits, but have swooned in more recent months after the credits expired and could continue their slide into 2011 given the record number foreclosures that may further depress prices …’

Guess Who’s Paying For The Greece Bailout? That’s Right — YOU Business Insider | The US supplies almost 20% of the IMF’s funding (per quotas). So that means US taxpayers are providing ~$8 billion of the $145 billion going to kick the Greek can down the road.

Why Poverty Spreads Across America Sherwood Ross | Pockets of poverty, like the sores of some malignant disease, are spreading across America, as its states and cities go broke and bankrupt.

Europe’s Debt Domino Effect CNBC | Insight on Europe’s debt debacle.

Insanity: US Ready to Back EU Bailout EconomicPolicyJournal.com | The United States would be ready to support the extension of the European Financial Stability Facility via an extra commitment of money from the International Monetary Fund.

Fed Report on Crisis Loans May Embarass Banks Reuters | The Federal Reserve on Wednesday will have to disclose details about emergency loans made during the 2007-2009 financial meltdown, including who borrowed how much and what collateral was offered in return.

WikiLeaks vs. Bank of America The Street | In its latest perception battle, Bank of America (BAC_) is up against an international man of mystery who appears to have a loaded publicity gun.

Nigel Farage: Euro Empire Collapsing, Bailout River Dry Another Eurozone country might need a financial bailout soon. Italy – which is the third largest economy that uses the Euro currency – has started plunging in the same direction as Greece and Ireland. It comes as fresh protests sweep across Europe – with people angry at facing tough cuts to pay for it all. RT talks to European Parliament member Nigel Farage, who’s the leader of the UK Independence Party.

US Mint Sells Record 4.2 Million American Eagle Silver Coins In November In what is becoming a very sad development, the more money (pardon, monetary base) Bernanke prints, the more silver coins Americans buy.

As The Euro Goes The Way Of The Dodo, Where Does That Leave The Dollar? The Eurozone is heading for a crash—anyone saying otherwise is either stoned, works in Brussels, or hasn’t checked the European bond market action lately: All hell is breaking loose there.

Fed Names Recipients of $3.3 Trillion in Crisis Aid The Federal Reserve, under orders from Congress, today named the counterparties of about 21,000 transactions from $3.3 trillion in aid provided to stem the worst financial panic since the Great Depression.

Beware of the Yields Trap

Don't Bet Against Valuations

Howard Davidowitz on the Economy: "Here Are the Numbers ... WE'RE BROKE!" 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

National / World

Top 3 Google Trends: ‘Google Evil,’ ‘Spying on Drudge’ & ‘PrisonPlanet.com Censored’ Aaron Dykes | Three Infowars.com initiated search terms have all peaked on Google’s Trends list for December 1, 2010.

UPDATE: You Tube Restores Banned Video After Media Storm Alex Jones & Aaron Dykes | Both Google and its subsidiary company You Tube have banned Alex Jones and his websites, as attempts to curtail free speech widen.

Watchdog Probes DHS Spying on Drudge Paul Joseph Watson | FOIA request investigates whether critics of TSA are being listed as domestic extremists

Former Pakistani General: CIA, Mossad behind WikiLeaks Reports FARS News Agency December 1, 2010 A former Pakistani army commander said that the disclosure of classified documents by the whistleblower site of Wikileaks is a US plot to create rift among friendly and neighboring states. “The US has a hand in this plot, and these reports (posted by the WikiLeaks website) are part of [...]

Top 3 Google Trends: ‘Google Evil,’ ‘Spying on Drudge’ & ‘PrisonPlanet.com Censored’ Thanks to our listeners and supporters, we have once again topped Google’s Trends. Now, for the first time ever, three terms, “Google Evil,” “Spying on Drudge” and “PrisonPlanet.com Censored,” have simultaneously charted the influential hot trends list.

Watchdog Probes DHS Spying on Drudge A Freedom of Information Act request filed by former Congressman Bob Barr seeks to discover whether the Department of Homeland Security has been keeping tabs on the Drudge Report and other prominent media outlets who have spearheaded a nationwide revolt against invasive TSA airport security measures.

US Gets Ready To Bail Out Europe Through IMF Funds The United States would be ready to support the extension of the European Financial Stability Facility via an extra commitment of money from the International Monetary Fund, a U.S. official told Reuters on Wednesday.

Bob Barr Investigates TSA Stand Down On National Opt Out Day A civil liberties watchdog group has filed a Freedom of Information Act request in an attempt to shed more light on the TSA’s efforts to disrupt a day of protest aimed at full body scanners and invasive pat-downs by largely curtailing their use for one day only last week.

UPDATE: You Tube Restores Banned Video After Media Storm Both Google and its subsidiary company You Tube have banned Alex Jones and his websites, as attempts to curtail free speech widen.

TSA Caves On Pat Downs But Mandates Government Permission For All Fliers In response to the national outcry surrounding invasive pat down measures, the TSA has been forced to refine its airport security procedures, but has simultaneously entrenched its policy that requires government permission for all Americans who wish to fly, creating what critics have labeled a Communist-style system of internal checkpoints.

Bank of America was shown leniency by SEC, report finds (Washington Post) [ It’s really difficult to justify any leniency whatsoever to these ‘too big to fail or jail’ institutions. Indeed, such treatment only encourages more fraud and abuse, ie., $144 bilion in bonuses this year alone, then the proceeds from the continuing frauds, computer programmed high-frequency commissioned churn and earn, etc.. Moreover, their importance to the nation’s economic well-being is wildly exaggerated. In fact, quite the opposite is true. ] The agency agreed to a settlement that was "favorable" to the bank "because of the nation's perilous economic situation at the time."

WikiLeaks founder could be charged under Espionage Act (Washington Post) [ Drudgereport: 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 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 ) ]

]

Federal Diary Deficit panel eyes federal pay (Washington Post) [ ‘critical challenges being shouldered by federal workers’ ? … PLEASE! Shoulder them no more … haven’t they done enough damage already … cease and desist … do not pass go … do not collect $200,000+ (with benefits), abolish lifetime appointments, etc., prosecute the frauds on wall street including jail, fines, and disgorgement, etc.. Fire them! The exception is law enforcement only, along with what’s strictly necessary and directly tied to prosecutions. ]

After meeting, hope for cuts deal (Washington Post) [ Is this some parallel universe they’re operating in? Davis weighs in with reality (and see infra) ‘ … 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! … ‘ ] President Obama and congressional Republicans expressed determination Tuesday to reach an agreement on the tax cuts due to expire at year's end

Panel's focus: Foreclosures after firms' bad advice (Washington Post) [ Riiiiight! Bad advice … nothing to do with the bernanke ‘no recession’, now dubbed the Great Recession … which is actually a depression albeit masked by an ever increasing (debt) defacto bankruptcy of the nation along with pervasive corruption / fraud (particularly securities) / criminality of the nation. Then there’s that lamest weird duck, incompetent dummy dodd, from that corrupt suburb of new york ( corrupt sinkhole tri-state metropolitan region-ny,nj,ct) where corrupt federal judges, contractors, etc., must have been gettin’ his bad advice along with that of that zionist ‘being there’ incompetent zelig of man, lieberman. Dodd has a familial history of corruption which goes with the territory these days and those. Tip of the iceberg, systemic failure, etc., thy name is chris dodd et als. See here for some insight into from whence dododd came… new jersey and new york, n.y. metro, viz., ie., connecticut, and of course, d.c., d.c. metro, viz., ie., virginia … 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 ) ] Mortgage industry executives have argued for weeks that they are foreclosing only on borrowers who deserve it for missing their monthly payments.

Al Peia's Blog

Thursday, December 2, 2010

December 2, 2010 posts

Business / Economic / Financial

Smart Money Playing Defense

Financial oligarchy dictates terms of Irish bailout Jordan Shilton | While ordinary working people will suffer the devastating consequences of the deal, the bailout ensures that the financial speculators whose criminal activity brought about the crisis will escape unpunished.

Fed Withholds Collateral Data for $885 Billion in Financial-Crisis Loans Bloomberg | The Federal Reserve withheld details on individual securities pledged as collateral by recipients of $885 billion in central bank loans.

Fed aid in financial crisis went beyond U.S. banks to industry, foreign firms Washington Post | The financial crisis stretched even farther across the economy than many had realized.

Fed May Be `Central Bank of the World’ After UBS, Barclays Aid Federal Reserve data showing UBS AG and Barclays Plc ranked among the top users of $3.3 trillion from emergency programs is stoking debate on whether U.S. regulators bear responsibility for aiding other nations’ banks.

National / World

The Secret The TSA Doesn’t Want You To Know Paul Joseph Watson | Big Sis has been quietly preparing the groundwork for the total takeover of all public transport and highways by federal government goon squads.

‘Bankers or us’ tops Google trends Infowars | Today’s #1 search term signifies a grassroots revolt in the Infowar against the economic war being waged against ordinary Americans

Who Precisely Is Attacking The World? Paul Craig Roberts | The stuck pigs are squealing.

Warrant To Be Issued For Cheney Arrest Via Interpol The prosecuting counsel for the country’s Economic and Financial Crimes Commission said that indictments will be handed down in the next three days and that an arrest warrant for Cheney “will be issued and transmitted through Interpol.”

WikiLeaks II – A Government Caught Up in Mendacity and Lies The reaction to WikiLeaks and its founder, Julian Assange tells us all we need to know about the total corruption of our “modern” world, which in fact is a throwback to the Dark Ages.

WTC Steel Was So Hot It Bent Without Cracking & Fused With The Concrete Carbon fire can’t melt steel.

Debt = Money, Money = Debt Where does money come from? You would think that question should be so simple that any 10-year-old child could answer it, but that is not the case. You see, the truth is that the vast majority of American adults cannot even answer that question.

Guess Who’s Paying For The Greece Bailout? That’s Right — YOU Business Insider | The US supplies almost 20% of the IMF’s funding (per quotas). So that means US taxpayers are providing ~$8 billion of the $145 billion going to kick the Greek can down the road.

Why Poverty Spreads Across America Sherwood Ross | Pockets of poverty, like the sores of some malignant disease, are spreading across America, as its states and cities go broke and bankrupt.

Europe’s Debt Domino Effect CNBC | Insight on Europe’s debt debacle.

Insanity: US Ready to Back EU Bailout EconomicPolicyJournal.com | The United States would be ready to support the extension of the European Financial Stability Facility via an extra commitment of money from the International Monetary Fund.

Fed Report on Crisis Loans May Embarass Banks Reuters | The Federal Reserve on Wednesday will have to disclose details about emergency loans made during the 2007-2009 financial meltdown, including who borrowed how much and what collateral was offered in return.

WikiLeaks vs. Bank of America The Street | In its latest perception battle, Bank of America (BAC_) is up against an international man of mystery who appears to have a loaded publicity gun.

US Mint Sells Record 4.2 Million American Eagle Silver Coins In November In what is becoming a very sad development, the more money (pardon, monetary base) Bernanke prints, the more silver coins Americans buy.

As The Euro Goes The Way Of The Dodo, Where Does That Leave The Dollar? The Eurozone is heading for a crash—anyone saying otherwise is either stoned, works in Brussels, or hasn’t checked the European bond market action lately: All hell is breaking loose there.

Fed Names Recipients of $3.3 Trillion in Crisis Aid The Federal Reserve, under orders from Congress, today named the counterparties of about 21,000 transactions from $3.3 trillion in aid provided to stem the worst financial panic since the Great Depression.

National / World

Top 3 Google Trends: ‘Google Evil,’ ‘Spying on Drudge’ & ‘PrisonPlanet.com Censored’ Aaron Dykes | Three Infowars.com initiated search terms have all peaked on Google’s Trends list for December 1, 2010.

UPDATE: You Tube Restores Banned Video After Media Storm Alex Jones & Aaron Dykes | Both Google and its subsidiary company You Tube have banned Alex Jones and his websites, as attempts to curtail free speech widen.

Watchdog Probes DHS Spying on Drudge Paul Joseph Watson | FOIA request investigates whether critics of TSA are being listed as domestic extremists

US Gets Ready To Bail Out Europe Through IMF Funds The United States would be ready to support the extension of the European Financial Stability Facility via an extra commitment of money from the International Monetary Fund, a U.S. official told Reuters on Wednesday.

UPDATE: You Tube Restores Banned Video After Media Storm Both Google and its subsidiary company You Tube have banned Alex Jones and his websites, as attempts to curtail free speech widen.

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