Woe to americans who Are All Prisoners Now All Americans are now imprisoned in a world of lies and deception created by the Bush Regime and the two complicit parties of Congress, by federal judges too corrupt, timid or ignorant to recognize a rogue regime running roughshod over the Constitution, by a bought-and-paid-for media that serves as propagandists for a regime of war criminals, and by a gutless, ignorant public who have forsaken their self-respect.

Benazir Assassinated

CHEER: Ambrose Evans-Pritchard: Bank Crisis may make '29 look 'walk in park'...

Alexander Tytler: "The average age of the world's greatest civilizations has been two hundred years JonesReport.com | 12-4-07
"The average age of the world's greatest civilizations has been two
hundred years. These nations have progressed through this sequence: from
bondage to spiritual faith; from spiritual faith to great courage; from
courage to liberty; from liberty to abundance; from abundance to
selfishness; from selfishness to complacency; from complacency to
apathy; from apathy to dependence; from dependency back again into
bondage."-- Alexander Tytler

FDR: "They who seek to establish systems of government based on the regimentation of all human beings by a handful of individual rulers... call this a New Order. It is not new and it is not order."

Andrew Jackson: "There are no necessary evils in government. Its evils exist only in its abuses."

Congressman McFadden (1934) on the Fed: "This evil institution has impoverished and ruined the people of these United States, has bankrupted itself, and has practically bankrupted our Government."

AP: TOP 10 NEWS STORIES '07...

Former CIA Interrogator: We Carried Out Torture Because The White House Told Us To

Fire out at building next to White House

Kucinich's brother found dead

FBI agent threatened to arrest CIA interrogators in 2002.

Countdown: Bushed! Countdown's list of the top three Bush scandals you may have forgotten about because of all of the new Bush scandals. This week's scandals: Habeas Corpus-Gate, Air-Gate and NIE-Gate.

Bush administration: Back off says war criminal and strategist dumbya bush on CIA tape probe CNN

HUCKABEE SLAMS 'ARROGANT' BUSH WHITE HOUSE

Romney Proves to All He is Not as Smart as he appears to be by Hitting Huckabee for Appropriately Criticizing War Criminal Dumbya bush for the debacle in Iraq (, etc.,) Which Is the Greatest Foreign Policy Blunder in america’s short-lived history (while concomitantly destroying the republican party, etc.) - tush tush, bush bush Washington Post

Bill Clinton Says He Wasn’t Ready for White House When He Squandered the Cold War Victory and Consequent Peace Dividend and that by resisting the bushit team Obama isn't Ready For White House which is ridiculous based upon the substantial damage the bush-clinton-bush corrupt regimes have caused the nation and the world...

Bush-Clinton-Bush-Clinton : Two Families, Three Decades In The White House, The Very Best Of Times For Them and the Worst of Times and Decline For america are (and this should be the wake-up call) best Friends

WYOMING DEM CHIEF: CLINTON WOULD HURT PARTY...

LA's gangland culture spreading chaos, violence into America's heartland...

AT&T engineer says Bush Administration sought to implement domestic spying within two weeks of taking office

Dodd ready to mount filibuster to block telecom immunity

The End of America

Naomi Wolf - "There hasen't been a real investigation of 9/11."

Lee Hamilton Says the CIA Obstructed the 9/11 Commission

CIA Failed To Fully Inform Congress About Destroyed Tapes CBS News

More Evidence of Obstruction of Justice in 9/11 Investigation

Neocons Revise WMD Entry on Wikipedia Propaganda Portal

Pelosi and Harman Aided and Abetted 9/11 Cover Up

The White House and Congress Knew about the CIA Interrogation Videotapes

USATODAYGALLUP POLL: Approval of Congress sinks to new low...

9/11 Victims' Lawyers Blast Ground Zero Toxic Air Lies In Court

Bush Authorizes Full Access to U.S. Roads for Even More Mexico-Based NAFTA Trucks

What is the CFR?: The Bush Clinton Bush Clinton Administration

Olbermann: Bush is a BOLD faced LIAR about NIE/Iran

Russia's well-founded and rational deep suspicion of (particularly criminal america) the West

Hillary Campaign Tactic Backfires as Top Aide Quits

REPORT: FBI Videotape shows Sharpton cutting a deal...

Victim: Gang-Rape Cover-Up by U.S., Halliburton/KBR

Greenspan sees early signs of U.S. stagflation

Poland does not need U.S. missile defense base - ex-PM

Iran Is No Threat and That’s Official “They stole our threat” goes a headline in the Israeli daily Haaretz. The author is, of course, referring to the recently published US National Intelligence Estimate (NIE) composed by 16 American intelligence.....

Gov't official: No 'smoking gun' on Iran

Egypt Govt Accuses Israel of Meddling in Its Ties With US

Paul: Israel Demanding U.S. Further Its Self-destructive Pro-israel Mode and Invade Iran

Russia warns of US missile shield retaliation

PA Economy Worst Affected by Israeli Restrictions: WB

Israeli Airstrikes in Gaza Kill 7

NASA 'on target for return to the moon for the first time by 2020'…..riiiiight!.....UFOetry: We Never Went To The Moon - The Award-Winning Documentary/Music/Video by John Lee
'The Mother of All Frauds'

History Channel Admits WTC Tower Fell At Freefall Speed

FBI Now Admits Evidence Used to Connect Oswald to Kennedy Assasination Was Bogus

Food prices rising at highest rate for 14 years

Taj Mahal Won't Accept bushit american Dollars as India Laments Lost Value

THE HILL: Dems Cave On Spending...

China's Yuan at new high vs dollar...

YEAR-ENDER: Home Sales Plunge, Feed Recession Fears...

To Understand Business/Economics for the Coming Year The New Year Starts Here (scroll down for current date)

(1-7-08) With sloth-like reflexes and speed the lazy, fallible frauds on wall street now recognize, yes we’re already in a recession. Forget Bulls/Bears. Their new mascot:
The Prehistoric Sloth. Sloths all, the lunatic/frauds on wall street are slothish on america.

Recession in the US 'has arrived': Merrill Lynch

Morgan Stanley issues full US recession alert Ambrose Evans-Pritchard
Tuesday December 11, 2007 Morgan Stanley has issued a full recession alert for the US economy, warning of a sharp slowdown in business investment and a "perfect storm" for consumers as the housing slump spreads. In a report "Recession Coming" released today, the bank's US team said the credit crunch had started to inflict serious damage on US companies…..

Reuters House prices seen falling 30 pct 12- 6-07 By Julie Haviv NEW YORK (Reuters) - Housing markets from Punta Gorda, Florida, to Stockton, California, will crash and suffer price drops of more than 30 percent before the housing crisis is over, a report from Moody's Economy.com said on Thursday. On a national level, the housing market recession will continue through early 2009, said the report, co-authored by Mark Zandi, chief economist, and Celia Chen, director of housing economics. The report paints a worsening picture of the hard-hit housing sector, which is in the midst of its worst downturn since World War II. While activity will stabilize in 2009, it will not be until 2010 before a measurable improvement in sales, construction and pricing will emerge, the report said…..

Earnings Recession Has Arrived U.S. corporate profits are in a recession, and the entire economy can not be far behind. Slower sales and higher energy and labor costs are forcing companies from Bear Stearns Cos. to Pitney Bowes Inc. to reduce spending and hiring. Their efforts to keep earnings from eroding even further raise the risk that the economy, already weakened by the steepest housing slide since 1991, may shrink sometime next year. ‘The earnings recession has already arrived, says David Rosenberg, North America economist for Merrill Lynch & Co. in New York. We are going to see an economic recession in '08.…..’

BANK OF AMERICA Sees Bigger Writedowns (12-12-07).....

MORGAN STANLEY first loss ever; taps China for $5 Billion...

PAPER: Housing foreclosures largest since Great Depression...

Home Prices Fall for 10th Straight Month

Oil price spikes close to $97...

CITIGROUP and MERRILL face bigger writeoffs/dividend cuts, etc.....

CHEER: Ambrose Evans-Pritchard: Bank Crisis may make '29 look 'walk in park'...As central banks continue to splash their cash over the system, so far to little effect, Ambrose Evans-Pritchard argues things are rapidly spiralling out of their control Twenty billion dollars here, $20bn there, and a lush half-trillion from the European Central Bank at give-away rates for Christmas. Buckets of liquidity are being splashed over the North Atlantic banking system, so far with meagre or fleeting effects. "Liquidity doesn't do anything in this situation," says Anna Schwartz, the doyenne of US monetarism and life-time student (with Milton Friedman) of the Great Depression."It cannot deal with ….. that lots of firms are going bankrupt. The banks and the hedge funds have not fully acknowledged who is in trouble. That is the critical issue," she adds…..

NEWS FLASH: Direct from Lost Angeles Learning Annex – Presenting mobster t_rump of new yoke, new joyzey, and now caleefornia mob fame with his continuing message for the past several years: buy real estate (and watch the values go down…..riiiiight!).
Bank sues Trump over Chicago tower loan...
Trump casino to miss interest payment...

trump’s fired

U.S.National Debt (real time)

(9-2-10) Dow 10,320 +51 Nasdaq 2,200 +23 S&P 500 1,090 +10 [CLOSE- OIL $74.02 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-GRADE/ $3.35 PREM./ $3.69 DIESEL) / GOLD $1,253 (+24% for year 2009) / SILVER $19.65 (+47% for year 2009) PLATINUM $1,545 (+56% for year 2009) / DOLLAR= .77 EURO, 84 YEN, .64 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 2.63% …..… 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! [ (2-16-10) Paul B. Farrell, MarketWatch Economic Doomsday is Here Market rallies on weak worthless Weimar dollar, higher oil prices, and news from ny fed, the one with $4 trillion missing/unaccounted for, that NY is now a global hub of manufacturing activity with stimulus-generated inventory increase (even if believed), that former obfuscating source of cyclic up must come down as said inventories are unsold or unloaded…riiiiight!…Total bull st!… Shadowstats’ John Williams: Prepare For The Hyperinflationary Great Depression `Roubini: 'The worst is yet to come'...` `Top Eurobank prepares for 'global economic collapse'...` CHINA: ‘The world does not have Money to buy more US Treasuries’ We Have Reached the Top of the Stock Market (Charts/Analysis/Article 1-19-10) Marketwatch: U.S. stocks held their gains following the release of the home builders' sentiment index, which declined in January as industry leaders remained concerned about the poor job market and the continuation of home foreclosures. Read more about the sentiment survey. It’s Time to Sell the Market…(1-19-10 Why wait till too late?) … This means closing out some longs for a profit, or at least taking some money off the table. This also means considering what one would do if stocks were to stage a significant reversal. The fact that corporate insiders are selling their stakes in record numbers and that fewer and fewer investors are participating in this rally makes a massive reversal probable rather than possible this year!... Peter Shiff: Economic collapse in near future / 2010, coming decade worse than past decade …S&P sells on a price-to-earnings multiple of 88 after the recent financial results. That is a horrendous overvaluation. A reasonable p/e would be around 18-25…’ Economist Wachtel says practices that caused crisis in play, toxic assets still there, and economically sound lending not viable …El-Erian who oversees nearly $1 trillion in assets, more than the gross domestic product of most countries, says stocks will drop 10 percent in the space of three or four weeks, bringing the Standard & Poor's 500 index below 1,000 soon… Breaking Point 2010: Top Trends with Gerald Celente …DO YOU THINK IT IS POSSIBLE IN 2010 FOR THE UNITED STATES TO END UP AS BADLY AS ARGENTINA A DECADE AGO? “Worse! Worse than Argentina because our debt problems are worse. This is classic empire decline. Argentina was not even an empire. We’re fighting wars in foreign countries as we are depleting the Treasury .…That’s why we are calling it: Breaking Point 2010!” The History of the Future: Trends 2012 Autumn 2012, the “Greatest Depression” has spread worldwide … `THE NUMBER: DEC. -85,000 JOBS... 10%...` `'WORSE THAN EXPECTED'... rallies stocks anyway (they probably just didn’t bother resetting the computerized churn-and-earn trade programs) / the new carry-trade borrow low then buy bubble trade deficit up /` US Will Hit 94% Debt to GDP Ratio Next Year, Surpassing the Level Where Debt Starts Reducing Economic Growth Shrinking US Labor Force Keeps Unemployment Rate From Rising … Negative data spurs market rally … riiiiight! `New jobless claims rise 'more than expected'...` `Retail sales drop in December; Sales for all of '09 plunge by record amount...` `Record year for foreclosures...` Worthless Weimar dollar, inflation, unsustainable debt, higher interest rates, and fake numbers rally stocks Food Stamps Go to a Record 37.2 Million, USDA Says Bloomberg Last decade was the worst ever in the stock market Jay Bookman | In nearly 200 years of recorded stock-market history, no calendar decade has seen such a dismal performance as the 2000s. Foreclosure / distressed sales up again and a lunatics’ santa claus rally as in bubble-crashes past WITH NEW BUBBLE IN THIS PREPOSTEROUS AND FRAUDULENT ENVIRONMENT WITH CONTINUED SUCKERS’ COMPUTER PROGRAMMED /SHORT-COVERING /BEAR MARKET RALLY (ON TRADE DEFICIT UNEXPECTEDLY UP MORE, CONSUMER CONFIDENCE UNEXPECTEDLY DOWN MORE, DYING DOLLAR, MUCH WORSE THAN EXPECTED 10.2% UNEMPLOYMENT RATE, EVEN MORE FAKE GOVERNMENT REPORTS, NEW RECORD DEFICIT 1.42 TRILLION, HIGHER OIL PRICES, EVER MORE WORTHLESS DOLLAR, CRASH IN COMMERCIAL REAL ESTATE, INCOME/CONFIDENCE DOWN, B.S. SERVICE SECTOR MEANINGLESS REPORT, LOTS OF FORECLOSURE SALES) BASED ON FAKE DATA [WATCH FOR CORRUPT GOV’T, IE., COMMERCE DEPT (GDP +3.5% BEATS ESTIMATES-HAS BEEN PREVIOUSLY DISCOUNTED MANY TIMES OVER), ETC., FALSE REPORTS TO FROTH MARKET], BAD DATA (JOB LOSSES UP, BANKRUPTCIES UP 41%, CAR SALES / MANUFACTURING DOWN, ETC.), BULL ST (IE., MERGER MANTRA-LIKE CHURN AND EARN COMMISSIONS GREAT FOR WALL STREET FEES BUT BAD FOR EVERYONE ELSE ESPECIALLY SINCE LEADING INDICATORS WITH B.S. STOCK COMPONENT THE ULTIMATE BOOTSTRAP, MORE WORTHLESS WEIMAR DOLLAR, ETC.), BETTER THAN EXPECTATIONS MANTRA (Paul B. Farrell: America's soul is lost and collapse is inevitable Recession Will Be ‘Full-Blown Depression’:(10-17-09) Strategist/Analyst 5 DISTURBING FACTS FOR BULLS David Weidner's Writing on the Wall: Taking the inside path to new bubble and fraudulent gains wall street frauds as before they tout multinational currency translation for window dressing but quality of earnings and prospective growth and stability in doubt and already discounted and substantially overvalued s Another Financial Bubble Comes Into View Oil price hits new high for 2009 Gold at $2,000 Becomes Inflation-Adjusted Bullseye for ‘80 High ) [We Are in Deep Trouble: We are Going to See New Lows in The Markets The Recession Is Far from Over Portfolio Manager Says Dow Will Fall To 6,300 By Year End Classic Market Bubble October ‘Crash’ Still on the Way: CEO Max Keiser On JPMorgan, Goldman Sachs Et Al’s Fraud Goldman Sachs Operative Hired as SEC Unit COO October: High Risk for Bulls …The big, smart traders will use any buying from the public to sell into. After all, the stock market has rallied on fumes, hopes and expectations. It will be the typical case of "selling on the news."… U.S. Stock Markets Disconnected from Reality U.S. Foreclosure Filings Jump 23% to Record in Third Quarter 1929 And Today - Sobering Parallels Abound Dollar loses reserve status to yen & euro Dollar drops to 14-month low; commodities rise Rothschild Biographer: Dollar Will Suffer Long, Protracted Death Major U.S. banks and securities firms on route to award record pay in '09, despite the damage they caused from their yet unprosecuted fraud and the change back to old FASB fraud facilitator ‘mark to anything they want’ accounting: report Jim Rogers “Quite Sure” Gold Will Hit $2000, Dollar Will Lose Reserve Status Goldman Sachs 2009 bonuses to double 2008’s; $23 billion could send 460,000 to Harvard, buy insurance for 1.7 million families A second Great Depression is still probable Financial Times Gold Jumps to Record as Inflation/Worthless Dollar Outlook Fuels Investor Demand Robert Fisk on the Gulf ‘Ditching the Dollar’ AlJazeera | Report suggests a move to the Japanese Yen, Chinese Yuan, and the Euro. The 'Buy Anything' Market It's the "buy anything market" brought to you courtesy of the destruction of your currency… `Defaults on Credit Cards Climbed to Record 11.49%...` It Is Going To Be A Rocky Road Chuck Baldwin | America is on the verge of total financial collapse. The Economy is a Lie, too Paul Craig Roberts | The worst part of the decline is yet to come. BULLISH STANCE IS WEARING THIN WAY TOO MUCH RISK IN THE EQUITY MARKET Mark Hulbert (9-22-09): Corporate insiders selling at faster pace The stock market rally is just another bubble — and it’s set to pop Marc Faber Says U.S. Government Will Fail in 5 to 10 Years Push For New Global Currency At G20 HSBC bids farewell to dollar supremacy US To Face ‘Armageddon’: China, Japan Can’t Keep Buying Worthless Debt Senator Sanders: “Don’t Believe Anybody Who’s Telling You ‘The Recession is Over’ ” FDIC May Tap Fed Treasury Funds State Unemployment Keeps Rising; Three Hit Record Highs John Browne…And the markets just don't get it. Technically, S&P profits are down some 90 percent, but the Index has risen to push P/E ratios to levels not seen since 1929. Bernanke Says Recession Over. Should You Believe Him? Barry Ritholtz | Based on his track record as a forecaster and his acumen in identifying economic problems before they exploded, his views on starts and finishes of recessions are, to be blunt, irrelevant. Entering the Greatest Depression in History Andrew Gavin Marshall | The economic crisis is anything but over, the “solutions” have been akin to putting a band-aid on an amputated arm. Roubini Sees Stock Declines as Soros Warns on Economy Expect Economic Stagnancy, If Not Worse, for Years to Come Obama referred to Friday's jobs data, a loss of 263,000 jobs (roughly 100,000 more than economists expected) as sobering. Well, I agree, but to say it was unexpected is to buy into those that thinks we are in recovery phase. To me we are in the lull before the storm. By the way, of over 80 economists surveyed, none, not one, predicted the number to be as high as 263,000. That reality is sobering. But if you really want something sobering, I suggest the following link. As the author points out, if you are expecting consumers to start spending more money for an economic rebound then you are sadly mistaken. They are already spending at very high (record) levels in terms of a percentage of personal income and as a percentage of GDP. And even that is not really lifting us out of this recession absent government support. Even though consumers are pretty much spending as much as they can, the economy is still struggling. So I don't expect things to improve from here. And as this piece points out, we are in for a world of hurt due to the size of the private debt that has built up. Charts Predict Downside for the Markets Shorting the Double Dip The double dip has begun… The reported unemployment number is 9.8%; real unemployment is 20% if you include those who have stopped looking and part time workers wanting to work full time. And the labor force participation rate is at a 23 year low... The Recovery That Isn’t Peter Schiff | Americans are once again taking the government’s bait by spending money they don’t have to buy things they can’t afford. Dangers, Failures, Diversions and Shortfalls Bob Chapman | Yes, too big to fail is still in vogue, just as it was in the 1930s. The Real Reason the Giant, Insolvent Banks Aren’t Being Broken Up US Lost Credibility by Saying Banks Were Healthy, Audit Says World Bank and IMF join global attack on the dollar Larry Edelson | Washington has no choice but to devalue the dollar — and how global leaders and even the United Nations have joined the attack on the greenback by demanding it be replaced as the world’s reserve currency. US economic decline forges new world order Agence France-Presse | “The American engine is not as strong as it was before,” IMF managing director Dominique Strauss-Kahn said in a speech. Expert on Structured Finance and Derivatives Gives the Big Picture Wall Street disguised these toxic “investments” with new value-destroying securitizations and derivatives. Meanwhile, collapsing mortgage lenders paid high dividends to shareholders (old investors) and interest on credit lines to Wall Street (old investors) with money raised from new investors in doomed securities. New money allowed Wall Street to temporarily hide losses and pay enormous bonuses. This is a classic Ponzi scheme… 300 Members of The House Support Audit the Fed `Roubini: Stocks, Commodities Have Risen 'Too Much, Too Soon, Too Fast'...` TARP Boss Plays Soft Ball with the Banksters Kurt Nimmo | The “gigantic train of crime” is rolling again and it will be far worse than it was in 1929 and the 1930s. Study: Bernanke, Paulson misled public on bailouts Euro Banks May Have to Raise $78 Billion: JP Morgan U.S. Suffering Permanent Destruction of Jobs HSBC Chief Warns of Second Downturn: Report Unemployment to Rise Through Most of 2010: Roubini Key Reversals on September 23 Started the Return of the Bear Central Banks Continue to Reduce Their Share of Dollar Reserves IMF Growth Forecast: Cause for Concern, Not Optimism In a climate where economic planners and market participants are desperate Market Rally Exaggerates Reality Plunging Pensions: Taxpayers Below Some Scary Implications of US Debt Stiglitz Says Banking Problems Are Now Bigger Than Pre-Lehman “Everything the US has done since the crisis is wrong” – economist US credit shrinks at Great Depression rate prompting reality of double-dip recession Ron Paul: Federal government ‘one giant toxic asset’ Bankster Bailout Did Nothing to Solve Problem, Crisis Now Worse 16 Reasons for Equities Markets to Fall Soon WHY THE BULLS ARE SKATING ON THIN ICE Treasury: Millions more foreclosures coming Forbes Reports the Dollar Has Collapsed `PAPER: AMERICA 'FACES ARGENTINA-STYLE FALL'...` Forbes Reports the Dollar Has Collapsed Predicting Worse Ahead from America’s Economic Crisis 3 more bank failures bring 2009 total to 92 `WHITE HOUSE ECON ADVISER: HIGH UNEMPLOYMENT FOR YEARS TO COME...` The Coming Consequences of Banking Fraud Job losses slow if you believe their fake numbers (they revealed prior better than expected numbers which previously rallied stocks, were indeed not better than expected in fact, and then rallied them again); jobless rate at 26-year high We are reminded of Japan where rates were microscopic for years and the Nikkei certainly did enjoy no fewer than four 50% rallies and over 420,000 rally points in a market that is still more than 70% lower today than it was two decades ago , The market is basically discounting an earnings stream that even the consensus does not see for another two to three years ], EVER MORE WORTHLESS WEIMAR DOLLAR, INCREASED FORECLOSURE SALES AND BEN (HE STILL HAS A JOB - AS AMERICANS LOSE THEIRS) BERNANKE BULL ST (REMEMBER HIS NO RECESSION TALKS, MANY OF THEM, TO FROTH THE MARKET THEN AS NOW AND HOW MANY SUCKERS’ POINTS TO THE UPSIDE THEREFROM – WHAT TOTAL BULL ST, WHAT FRAUDS!) EVEN AS ECONOMIST KELLNER JOINS THE RATIONAL CROWD SAYING ECONOMY WILL COLLAPSE UNDER ITS OWN WEIGHT IN 2010 AND CONTINUED BAD NEWS [ INSIDERS ARE DUMPING STOCK Insiders Selling Stocks at Highest Level Since May 2008 (8-31-09) INSIDERS CONTINUE TO SELL, SELL, SELL (AT SEEKING ALPHA 8/13/09) `PAPER: FRESH ALERT ON GLOBAL STOCK MARKETS...` The Great Depression and Today - Sobering Parallels Abound Roubini: “When Governments Reach the Point Where They Are Borrowing to Pay the Interest on Their Borrowing They Are … Running a Ponzi Scheme” Economic Collapse: Bank Runs, China, Peter Schiff, Gerald Celente, Max Keiser Oldest Swiss Bank Wisely Tells Clients to Sell U.S. Assets or Leave Looming Global Debt Crisis Congressman Grayson: Fed Secretly “Stuffed” $500 Billion into “Foreign Private Pockets” and Gave $230 Billion to Citi “As a Secret Bailout” Ron Paul: End the Fed, Save the Dollar Gerald Celente: There is No Recovery Madoff Files: A Chronicle of SEC Failure US jobless soars as companies squeeze workers US jobless soars as companies squeeze workers `Food stamp list soars past 35 million... and New record; up 22% from '08...` Fairy Tales of Recovery, Reality of More Failures Goldman Sachs Wrong on Economic Recovery, Macro Hedge Funds Say The Coming Deposit Insurance Bailout Five banks closed by U.S. regulators with 89 total closures Russian Professor: Collapse Of America Could Begin In Two Months The $531 Trillion Dollar Derivatives Time Bomb Dollar Is Funny Money in Push for World Currency: Kevin Hassett Commercial Real Estate Next Mortgage Crisis Federal Reserve made $14 billion on turmoil loans `Banks' struggles have worsened...` Lehman claims could reach $100 billion: PwC [$$] Raft of Deals for Failed Banks Puts U.S. on Hook for Billions (at The Wall Street Journal Online) Three more banks fail; 2009 total hits 84 Goldman "Trading Huddles" Expose Fiction of Level Playing Field 1,000 Banks to Fail In Next Two Years AP sources: $2 trillion higher deficit projected (AP) Judge Orders Fed To Disclose Who Received Bailout Trillions Zero Hedge Claims that the Federal Reserve ITSELF Traded Over a Trillion Dollars Worth of Derivatives in March Alone Geithner: Auditing the Fed is a “line that we don’t want to cross” The Federal Reserve Must Die “True Deleveraging Has Not Begun Yet Because Losses of Financial Institutions Have Been Socialized” `Obama Predicts Unemployment, Deficits Far Worse Than Previously Stated...` `Grim...` "Artificially Sweetened" Market Could Face "Seismic Readjustment," Harrison Says `Official: Real unemployment rate at 16%...` `WSJ: Dollar Steadily Losing Influence... Senator warns of hyperinflation...` Failed banks mount; Ga, Ala, and large Texas banks shut Learn to Love the Depression US jobless claims in surprise jump for second week WHY DO EQUITY MARKETS DISAGREE WITH THE DATA? Brookings “Experts” Admit Stimulus a Bust Analyst warns of 150-200 more U.S. bank failures Government Revises Deficit Estimates Again: We Will Exceed Expectations Manufacturing Jobs Drop To Lowest Level Since 1941 What rebound? Foreclosures rise as jobs and income drop Fed to Steal State Pension Funds IMF Says You’ll Have to Pay More Taxes The risk of continuing depression rising CALPERS IS UNSUSTAINABLE `What rebound? Foreclosures rise...` Grab Your Shorts, The Correction Has Begun THE SECOND WAVE OF THE DEPRESSION: HYPERINFLATION IS LIKELY THE FDIC IS BROKE. NOW WHAT? (PART II) `DOLLAR TO DECLINE AMID CONCERN AS IT 'LOSES RESERVE STATUS'...` JOBLESS SPIKE COMPOUNDS FORECLOSURE CRISIS STOCKS SLIDE ON ECONOMY CONCERN WORLD STOCKS, OIL TUMBLE ON U.S. FRAUD EXPOSURE AND CONSUMER WORRIES Connecticut Not Learning the Right Lessons from California Weekly Market Outlook: Commercial Real Estate Continues to Deteriorate Retail sales fall, new jobless claims rise (Reuters) US Home Foreclosures Set Another Record in July Colonial BancGroup shut down by federal officials (largest bank failure this year) (AP) Economist: Claim that Economy Has Recovered “Is Like Somebody Borrowing Money from Their Uncle and Then Celebrating that Their Income Has Gone Up” ] PERSONAL & BUSINESS BANKRUPTCIES UP, WORTHLESS WEIMAR DOLLAR DOWN, FORECLOSURES UP (32% YOY AND 7% MOM AT NEW RECORD, 50% HOMES UNDERWATER, COMMERCIAL TO FOLLOW), CONFIDENCE REALISTICALLY DOWN, $100+ OIL AROUND CORNER (2010-HOGAN); HILLARY KRAMER-10% CORRECTION, CELENTE-DEPRESSION NOW UNDERWAY Bob Prechter Quite Sure Next Wave Down Will Be Bigger and March Lows Will Break Gerald Celente 2.5 Million Jobs Lost Since Obama’s Presidency `PAPER: Fresh alert on global stock markets...` TO KEEP SUCKERS SUCKERED [ Insiders Continue to Sell, Sell, Sell (at Seeking Alpha – 8/13/09) (7-29-09) Insiders Selling at Alarming Levels Insiders Exit Shares at the Fastest Pace in Two Years ] AND COMMISSION DOLLARS FLOWING [`Tarp banks award billions in bonuses...` Goldman Sachs on pace for record bonuses: report (Reuters) Cody Willard: Goldman Sachs Is A Ponzi Scheme, Should Be Punished Accordingly Max Keiser: Prosecute the Bankster Crime Syndicate The Market's Horoscope: Downside Correction ! [ Entering the Greatest Depression in History Andrew Gavin Marshall | The crisis has many bubbles, all of which dwarf the housing bubble burst of 2008. Geithner asks Congress for higher U.S. debt limit U.S. regulators close 3 banks, total now 72 US deficit climbs to 1.3 trillion dollars This Depression is just beginning The Next Wave of Collapse is Coming Sooner than you think Back in the Great Depression of 1929 through the 1930’s, we saw a similar Zig-zag pattern. There was a crash in 1929, followed by a nice rally, but then the most devastating part of the market collapse followed into the 1930’s. `Feds Hit With Biggest Tax Revenue Drop Since 1932...` The Great Depression Two Continues There is no coincident data which is demonstrating this recession is over. Some may be at the bottom, others have a way to go… An Artifical Recovery [$$] Why I Went Fully Into Cash Bob Prechter "Quite Sure" Next Wave Down Will Be Bigger and March Lows Will Break A REALITY CHECK ON U.S. 'ECONOMIC RECOVERY' Jeff Nielson - U.S. equities are rallying again today, and (as usual) it is a rally with no basis in reality. Most of the enthusiasm comes from another string of corporate quarterly results which “beat expectations”. I had hoped that the sheep were starting to clue-in to this silly game, however it appears there is a still a large pack of Pavlov's Dogs out there – who respond to their propaganda cues without a moment of actual thought. The truth is that all of the companies “beating expectations” are still reporting steadily worse results year-over-year – and in many cases, much worse results. Among the few exceptions are U.S. financial corporations. However, since accounting-fraud was legalized in the United States (see “FASB strong-armed into mark-to-fantasy accounting”), their bottom-lines have had absolutely no connection to their business operations… The Real Economy Versus the Make-Believe World of the Government and Financial Giants In the real economy, unemployment is at Depression-era levels. Top firms' pension funds plummet Consumer bankruptcies jump 34% Nine Of Ten Sectors Overbought This Depression is just beginning US companies axe 371,000 jobs in July `Half of U.S. mortgages seen underwater by 2011...` Recovery ‘not in sight’ says BMW ] CONTINUED FRAUD WITH PROGRAMMED SUCKERS’ RALLY DESPITE NEW RECORD FOR CONTINUING UNEMPLOYMENT CLAIMS AT 6.3 MILLION AND AS I WARNED, WATCH FOR FAKE REPORTS IN DESPERATION – AND LABOR DEPT. CAME THROUGH WITH FAKE REPORT AND NEW LIE BASED UPON PEOPLE STOPPED LOOKING FOR JOBS SO THEIR RATE 9.4 BUT OBAMA SAYS 10% - REALITY IS UNEMPLOYMENT RATE IS WELL OVER 10%, THEN AIG SOARS ON “PROFIT” WITH $87 BILLION IN TAXPAYER FUNDS TO PLAY WITH [ Max Keiser: Prosecute the Bankster Crime Syndicate Insiders Continue to Sell, Sell, Sell (at Seeking Alpha) `PAPER: Fresh alert on global stock markets...` Retail sales fall, new jobless claims rise (Reuters) US Home Foreclosures Set Another Record in July (7-29-09) Insiders Selling at Alarming Levels …Although the level of insider selling is certainly alarming it's important to note that the very low levels of buying are particularly alarming. Insiders sell stock for many reasons, but they generally only buy stock for one reason: they believe the stock is going up. Despite the fact the media is reporting an end to the recession, a bottom in housing and a trough in earnings we are seeing a vote of zero confidence from the people who know these companies better than anyone else… Entering the Greatest Depression in History Andrew Gavin Marshall | The crisis has many bubbles, all of which dwarf the housing bubble burst of 2008. Geithner asks Congress for higher U.S. debt limit U.S. regulators close 3 banks, total now 72 US deficit climbs to 1.3 trillion dollars Causes of This Depression Yet To Be Addressed Further impoverishment is on the way. More and more will be laid off and they’ll be no new jobs available. Savings will be exhausted and most homes that have been financed will be under water. Some banks paid bonuses bigger than income: o This Depression is just beginning You read that right! Only $400 billion of that fantastic 6 month “green shoots” stock market rally came from money market accounts. The rest ($2.3 trillion) was laundered through the banks and other financial institutions to create the appearance of recovery and to raise equity for underwater banks rather than forcing them into receivership (which is where they belong) Bernanke probably knew that congress wouldn’t approve another TARP-type bailout for dodgy mortgage-backed assets, so he settled on this shifty plan instead. The only problem is, the banks are still broke, business investment is at historic lows, consumers are on the ropes, the unemployment lines are swelling, the homeless shelters are bulging, the pawn shops are bustling, tent cities are sprouting up everywhere, and according to MarketWatch, Corporate insiders have recently been selling their companies’ shares at a greater pace than at any time since the top of the bull market in the fall of 2007.” Face it; the economy is in the crapper and Bernanke’s trickery hasn’t done a lick of good. The Next Wave of Collapse is Coming Sooner than you think Back in the Great Depression of 1929 through the 1930’s, we saw a similar Zig-zag pattern. There was a crash in 1929, followed by a nice rally, but then the most devastating part of the market collapse followed into the 1930’s. Bob Prechter "Quite Sure" Next Wave Down Will Be Bigger and March Lows Will Break The Real Economy Versus the Make-Believe World of the Government and Financial Giants In the real economy, unemployment is at Depression-era levels. Top firms' pension funds plummet Consumer bankruptcies jump 34% Nine Of Ten Sectors Overbought This Depression is just beginning `Feds Hit With Biggest Tax Revenue Drop Since 1932...` The Great Depression Two Continues There is no coincident data which is demonstrating this recession is over. Some may be at the bottom, others have a way to go… An Artifical Recovery [$$] Why I Went Fully Into Cash US food stamp list tops 34 million for first time The Banks Own the Fed, and the Central Banks Own BIS AIG breakup nets Wall Street $1 billion bonanza: report ‘Underwater’ Mortgages to Hit 48%, Deutsche Bank Says `Oil price hits $76, highest since October...` US companies axe 371,000 jobs in July `Half of U.S. mortgages seen underwater by 2011...` Recovery ‘not in sight’ says BMW Recession Worse Than Prior Estimates, Revisions Show Bloomberg | The first 12 months of the U.S. recession saw the economy shrink more than twice as much as previously estimated, reflecting even bigger declines in consumer spending and housing, revised figures showed. DO YOU REALIZE HOW MANY SUCKERS’ RALLY POINTS WERE ADDED BY THE FAKE NUMBERS CONTRIBUTING TO THIS NEW COMMISSIONING BUBBLE! `REVISED: ECONOMY 2X WORSE...` `The government plans big revisions to historical economic data... Developing...` `Regulators shut banks in Fla., NJ, Ohio, Okla...` WASHINGTON (7-31-09) (AP) -- Regulators on Friday shut down banks in Florida, New Jersey, Ohio, Oklahoma and Illinois, boosting to 69 the number of federally insured banks to fail this year amid the pressures of the weak economy and mounting loan defaults. PhD Economist: Fed has Caused Soaring Unemployment, Millions of Foreclosures, Millions Losing Life Savings and More than $6 Trillion in Lost Output `DOLLAR DROPS TO '09 LOW...` Unemployment spreads distress in U.S. home loans `Weak Treasury Auctions Raise Worries About Debt Burden...` [$$] Senate Probes Banks for Meltdown Fraud (at The Wall Street Journal Online) Even Bernanke Admits this Could be Worse than the Great Depression Senate probes Goldman, Deutsche: report (Reuters) The Real Unemployment Rate Hits a 68-Year High 2009 Looking More Like 1929 `Dollar Falls to 2009 Low...` U.S. Markets Decline After Weaker Than Expected Data A REALITY CHECK ON U.S. 'ECONOMIC RECOVERY' Jeff Nielson - U.S. equities are rallying again today, and (as usual) it is a rally with no basis in reality. ] AND NOTHING REAL OR POSITIVE AT ALL (IE., STILL NO PROSECUTIONS OF THE FRAUDS ON WALL STREET SO JUST ANOTHER BUILT-IN COST BY CHURN-AND-EARN COMMISSIONS TO, DEFACTO TAX ON NON-PERFORMING / DECLINING ECONOMY, DURABLE GOODS DOWN/FORECLOSURES UP, CONFIDENCE REALISTICALLY DOWN, CORRUPT COMMERCE DEPARTMENT CHIMES IN WITH FAKE NUMBERS, USED HOME SALES UP WITH DEFAULTS/ SHORT SALES, JOB LOSSES UP, BETTER THAN EXPECTED MANTRA, GUIDANCE THAT DEFIES REALITY BY A LONG SHOT AS IN LAST COMMISSIONABLE BUBBLE BUST, JOB/COST CUTS TO BONE, ETC.) ( Max Keiser: Prosecute the Bankster Crime Syndicate Max Keiser: Goldman Sachs Are “Scum,” “Financial Terrorists” Bank profits not as impressive as they seem when you take into account TARP funding, changed accounting rules to fudge books, new stock issues, etc… um Cost Of Bailout Hits A Whopping $24 Trillion Dollars Entering the Greatest Depression in History Andrew Gavin Marshall | The crisis has many bubbles, all of which dwarf the housing bubble burst of 2008. Geithner asks Congress for higher U.S. debt limit U.S. regulators close 3 banks, total now 72 US deficit climbs to 1.3 trillion dollars Stearns Crucifies Paulson On Bailout Bait And Switch Fiscal ruin of the Western world beckons Foreign Embassies Urged to Stockpile Local Currencies Bailout Overseer Says Banks Misused TARP Funds Regulators shut banks in Calif., Ga. and SD ) TO KEEP SUCKERS SUCKERED [ (7-29-09) Insiders Selling at Alarming Levels Insiders Exit Shares at the Fastest Pace in Two Years Bob Prechter "Quite Sure" Next Wave Down Will Be Bigger and March Lows Will Break ] AND COMMISSION DOLLARS FLOWING [`Tarp banks award billions in bonuses...` Goldman Sachs on pace for record bonuses: report (Reuters) Cody Willard: Goldman Sachs Is A Ponzi Scheme, Should Be Punished Accordingly Max Keiser: Prosecute the Bankster Crime Syndicate Corporate Media Spotlights Distortion of Market by High Frequency Trading [$$] Big Pay Packages Return to Wall Street as new fraud gains steam (at The Wall Street Journal Online) Max Keiser: Goldman Sachs gang are ’scum’ who have co-opted U.S. gov’t Max Keiser: Goldman Sachs Are “Scum,” “Financial Terrorists” Max Keiser goes on the offensive during an appearance on France 24 as he slams Goldman Sachs as “scum” and “financial terrorists” who should be thrown in jail. ‘Printing money will lead to serious problems down the road,’ says Jim Rogers Spitzer: Federal Reserve is ‘a Ponzi scheme, an inside job’ 2009 Looking More Like 1929 AIG breakup nets Wall Street $1 billion bonanza: report ] BASED ON CONTINUED BAD NEWS ( ie., `BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY...` Scams And Bailouts The Cause of World Depression Insiders Continue to Sell, Sell, Sell (at Seeking Alpha 8/13/09) `PAPER: Fresh alert on global stock markets...` Retail sales fall, new jobless claims rise (Reuters) US Home Foreclosures Set Another Record in July (7-29-09) Insiders Selling at Alarming Levels Entering the Greatest Depression in History Andrew Gavin Marshall | The crisis has many bubbles, all of which dwarf the housing bubble burst of 2008. The Market's Horoscope: Downside Correction Geithner asks Congress for higher U.S. debt limit U.S. regulators close 3 banks, total now 72 US deficit climbs to 1.3 trillion dollars Causes of Depression Yet To Be Addressed Further impoverishment is on the way. More and more will be laid off and they’ll be no new jobs available. Savings will be exhausted and most homes that have been financed will be under water. Some banks paid bonuses bigger than income: o This Depression is just beginning You read that right! Only $400 billion of that fantastic 6 month “green shoots” stock market rally came from money market accounts. The rest ($2.3 trillion) was laundered through the banks and other financial institutions to create the appearance of recovery and to raise equity for underwater banks rather than forcing them into receivership (which is where they belong) Bernanke probably knew that congress wouldn’t approve another TARP-type bailout for dodgy mortgage-backed assets, so he settled on this shifty plan instead. The only problem is, the banks are still broke, business investment is at historic lows, consumers are on the ropes, the unemployment lines are swelling, the homeless shelters are bulging, the pawn shops are bustling, tent cities are sprouting up everywhere, and according to MarketWatch, Corporate insiders have recently been selling their companies’ shares at a greater pace than at any time since the top of the bull market in the fall of 2007.” Face it; the economy is in the crapper and Bernanke’s trickery hasn’t done a lick of good. The Next Wave of Collapse is Coming Sooner than you think Back in the Great Depression of 1929 through the 1930’s, we saw a similar Zig-zag pattern. There was a crash in 1929, followed by a nice rally, but then the most devastating part of the market collapse followed into the 1930’s. `Feds Hit With Biggest Tax Revenue Drop Since 1932...` The Great Depression Two Continues There is no coincident data which is demonstrating this recession is over. Some may be at the bottom, others have a way to go… An Artifical Recovery [$$] Why I Went Fully Into Cash Bob Prechter "Quite Sure" Next Wave Down Will Be Bigger and March Lows Will Break The Real Economy Versus the Make-Believe World of the Government and Financial Giants In the real economy, unemployment is at Depression-era levels. US companies axe 371,000 jobs in July `Half of U.S. mortgages seen underwater by 2011...` Recovery ‘not in sight’ says BMW Top firms' pension funds plummet Consumer bankruptcies jump 34% Nine Of Ten Sectors Overbought This Depression is just beginning US food stamp list tops 34 million for first time The Banks Own the Fed, and the Central Banks Own BIS AIG breakup nets Wall Street $1 billion bonanza: report ‘Underwater’ Mortgages to Hit 48%, Deutsche Bank Says `Oil price hits $76, highest since October...` US companies axe 371,000 jobs in July Unemployment spreads distress in U.S. home loans Cities in the U.S. Sun Belt states of California, Florida, Nevada and Arizona dominated the record foreclosure spree in the first half of the year, but distress in other regions emerged as joblessness spread, RealtyTrac said on Thursday. Recession Worse Than Prior Estimates, Revisions Show Bloomberg | The first 12 months of the U.S. recession saw the economy shrink more than twice as much as previously estimated, reflecting even bigger declines in consumer spending and housing, revised figures showed. Do you realize how many suckers’ rally points were added by the fake numbers contributing to this new commissioning bubble! `REVISED: ECONOMY 2X WORSE...` `The government plans big revisions to historical economic data... Developing...` `Regulators shut banks in Fla., NJ, Ohio, Okla...` WASHINGTON (AP) -- Regulators on Friday shut down banks in Florida, New Jersey, Ohio, Oklahoma and Illinois, boosting to 69 the number of federally insured banks to fail this year amid the pressures of the weak economy and mounting loan defaults. PhD Economist: Fed has Caused Soaring Unemployment, Millions of Foreclosures, Millions Losing Life Savings and More than $6 Trillion in Lost Output `DOLLAR DROPS TO '09 LOW...` 75% Favor Auditing The Fed `Tarp banks award billions in bonuses...` The Real Unemployment Rate Hits a 68-Year High 2009 Looking More Like 1929 `Dollar Falls to 2009 Low...` `Six Georgia banks fail, bringing year tally to 64....` Rally may cool on earnings reality check Dollar Falls to Near 2009 Low as Economy Pares Refuge Demand Ben Bernanke Was Wrong Wall Street’s Love Affair with Ben Bernanke Mike Whitney | bernanke knows that the country is in a Depression Scams And Bailouts The Cause of World Depression New US weekly jobless claims jump Its Official: U.S. Trapped in an Extended Depressionary Cycle `MICROSOFT Profit Drops 29% as PC Slowdown Weighs on Revenue… they haven’t availed themselves of the fake assets/books legislation recently passed...` `AMAZON.COM Profit Drops 10%...` Bernanke: “I Don’t Know” Which Foreign Banks Were Given Half a Trillion Paul Joseph Watson Grayson grills Fed chairman on destination of credit swaps. `Fed: unemployment will top 10 percent this year...` Foreclosures (those increased home sales that has been fueling suckers’ rally) rise 15 percent in first half of 2009 `(7-17) Three more banks fail, bringing 2009 tally to more than double all of 2008 at a total thus far of 57` Lower Markets on the Horizon Cody Willard: Goldman Sachs Is A Ponzi Scheme, Should Be Punished Accordingly The Ultimate Insider Trading Scheme Max Keiser: Goldman Sachs gang are ’scum’ who have co-opted U.S. gov’t Cost Of Bailout Hits A Whopping $24 Trillion Dollars Stearns Crucifies Paulson On Bailout Bait And Switch Fiscal ruin of the Western world beckons Foreign Embassies Urged to Stockpile Local Currencies Bailout Overseer Says Banks Misused TARP Funds TARP watchdog says Treasury lacking bank data Goldman Sachs caused the problems in the first place… Who can deny that? Budget deficit tops $1 trillion for first time (AP) CIT Watch: Analysts Says Debt Load Isn't the Only Problem Geithner Refuses to Rule Out Continuing Using American Taxpayer as Piggy Bank for Derivatives Losses `WHITE HOUSE ECON ADVISER CLAIMS SUCCESS: FEWER PEOPLE SEARCHING 'ECONOMIC DEPRESSION' ON GOOGLE BECAUSE EXPERIENCING IT FIRST-HAND THEY ALREADY KNOW WHAT ECONOMIC DEPRESSION IS...` What Economy? There’s Nothing Left to Recover There is no economy left to recover. The US manufacturing economy was lost to offshoring and free trade ideology. It was replaced by a mythical “New Economy “ ; less bad, not as bad as expected…riiiiight!, tarp money for the commission frauds on wall street in new manufactured bubble as actual/real manufacturing down again; c`onsumer confidence down, commercial loans begin default phase of downturn, 6.9 million continuing unemployment claims for new record; retail sales down sharply`A REALITY CHECK ON U.S. 'ECONOMIC RECOVERY' Jeff Nielson - U.S. equities are rallying again today, and (as usual) it is a rally with no basis in reality. Economist: FDIC gearing up for bank closures Goldman Sachs Admits Its Software Can “Manipulate Markets in Unfair Ways and fraudulently generate commissions /trade volume” Max Keiser: Goldman Sachs gang are ’scum’ who have co-opted U.S. gov’t You Tube | Goldman Sachs are scum– that’s the bottom line. They have co-opted the government, the Treasury Department and the Federal Reserve’s functionality. They’ve co-opted the Obama administration & Barack Obama dances to Goldman Sachs’ tune. True unemployment rate already at 20% This Depression Will Last For Years Wyoming sees first bank failure since 1991 China criticizes dollar `AIG Preparing to Pay New Round of Bonuses...` While Talking About Keynesian Stimulus, Feds Are Really Just Giving Money to the Big Frauds FDIC Insurance Fund: It Doesn’t Actually Exist Replacing the dollar as reserve currency US loses 467,000 jobs, unemployment at 9.5% `'We're in the Middle of a Crash': Black Swan...` Economic Expectations – Unemployment Rate Will Reach 15% David Tice: We are going into a depression-15% unemployment or more on horizon. U.S. consumers fall behind on loans at record pace `FBI: Mortgage fraud 'rampant' and growing...` Celente and Schiff Predict Food Panic This Year. Watch clips HERE. Fema Camps Built. Wall Street hits 10-week low amid talk of new stimulus `(7-2)Seven more banks fail, bringing 2009 tally to more than double all of 2008 at a total thus far of 52; Private sector sheds another 473,000 jobs in June...` US lurching towards ‘debt explosion’ with long-term interest rates on course to double Jim Rogers Sells Dollars, Plans to Short Treasuries ‘Sucker’s Rally Beginning To Unwind’ daaaah…? Calls grow to supplant dollar as global currency China officials call for displacing dollar, in time Tracking Two Depressions, 1929 and now this `Mortgage applications fall to 7-month low...` `Private sector sheds another 473,000 jobs in June...` `'Layoffs may be worsening'...` AIG shares drop after 1-for-20 reverse-stock split (AP) Manhattan apartment prices skid 13 to 19 percent Job losses / job concerns realistically weigh on confidence, real estate values/prices continue downward trend as per Case / Shiller Index (-18.1%, -21% in california) `Consumer confidence suffers steep fall...` `Home prices post 18% annual drop...` Worldwide Depression: Review of Global Markets . Four banks fail, bringing 2009 tally to 19 more than all of 2008 at a total thus far of 44 Dollar Falls Most in Month as China Urges New Reserve Currency Gerald Celente speaks on Cap and Trade and other handicaps to the US economy HOW MANY TIMES CAN THE WALL STREET FRAUDS, WITH CYCLICAL REGULARITY, DO THE SAME OR SIMILAR FRAUD WITH IMPUNITY (STILL NOT ONE PROSECUTION IN THE MOST RECENT MASSIVE SECURITIES FRAUD, BUT PLENTY OF OBFUSCATION EMANATING FROM THE PERPETRATORS AS WELL AS THOSE WHO SHOULD BE PROSECUTING /PURSUING THEM) NOW REFLATING THE STOCK MARKET BUBBLE BASED UPON NOTHING AT ALL (BAD NEWS,FRAUD AND BULL S**T), CHANGING ACCOUNTING RULES TO FACILITATE THE COMMISSIONABLE BUBBLE FROM WHICH THE SOURCE OF FUNDS TO EVEN PAY BACK LOANS TO AVOID SCRUTINY OF THEIR NEW FRAUD IS GENERATED [SAVINGS AND LOAN DEBACLE, DOT.COM SELL THE SIZZLE BUST /DEBACLE, RECYCLED /REPACKAGED /RESOLD /RECOMMISSIONED WORTHLESS COLLATERALIZED SECURITIES /PAPER (IN THE TRILLIONS YET STILL NOT ADDRESSED), ETC., THE FRAUDS ARE GETTING LARGER, HENCE THE RIDICULOUS TOO BIG TO FAIL MANTRA … HOW PATHETIC! … THAT MONEY HAS TO COME FROM SOMEPLACE, IE., PRINTING, CREATING, YOUR POCKETS, … NOT OUT OF THIN AIR! ] TYPICAL END OF QUARTER FRAUD/WINDOW DRESSING TO KEEP SUCKERS SUCKERED [ Insiders Exit Shares at the Fastest Pace in Two Years ] AND COMMISSION DOLLARS FLOWING [ Goldman Sachs on pace for record bonuses: report (Reuters) ] BASED ON CONTINUED BAD NEWS ( ie., `BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY...` A REALITY CHECK ON U.S. 'ECONOMIC RECOVERY' Jeff Nielson - U.S. equities are rallying again today, and (as usual) it is a rally with no basis in reality. `, personal income up modest .2% and spending down, China calls for new reserve currency to supplant worthless dollar` Dollar And Stocks Drop As China Calls For New Global Currency `,` continuing unemployment claims at or near record 627,000, weekly unemployment claims up 15,000, and GDP contraction –5.5%, all worse than expected (lennar wider than expected quarterly loss rallies stock…riiiiight!) Jobless claims rise; GDP dips in 1Q ; soothing words/b.s. from fed which previously predicted no recession that economy still contracting but that the contraction is somewhat slowing…what bl st!…, analysts- buffet/economy in shambles, Hogan/negative GDP growth and inflation owing to debasement of the dollar as well as deficit spending/pump-priming in the trillions, joker stein/economy a mess and continued job losses, new home sales down .6%; U.S. Home Prices Drop 6.8 Percent in April as Foreclosures Rise foreclosure sales up 2.4%, prices down 17% year over year, [$$] Market Suffers Some Technical Damage Stocks tumble on bleak outlook for world economy U.S. regulators close their 40th bank of the year , Next Major Move In Stock Market Will Be Down world economy to shrink by worse than previously predicted 2.9% and big difference between not getting worse and getting better, market got ahead of itself, stalled out, still depression/more job losses, higher oil-gas prices / higher interest rates / heavy debt to pare down is 1-3 year drag on economy, even if believed (I don’t) the labor dept. far better than expected job numbers by increased debt (spending) to produce same is not economically sound or sustainable, viz., record spending with record low revenues, rating cuts for bank sector, analysts concur in significant 5-15% (reality says 15-25%) pullback/correction for stocks , institutional selling, industrial production/construction down 1.1%, housing starts allegedly up but if believed will only increase the plethora of unsold inventories, empire manufacturing index suffers unexpectedly severe decline…daaaah!, credit dard defaults at record high, analysts concur that fundamentals don’t support stock rally and that pac money(defacto bribes) might derail any meaningful reform/regulation which is of concern to the frauds on wall street who should be prosecuted, record loss of wealth, higher gas prices, job losses, higher interest rates / yields, higher commodity prices, higher deficits, hyperinflation, record continuing unemployment claims at 6.8 million, worthless Weimar dollar crashing, money supply exploding with hyperinflation/higher interest rates coming, budget deficit at new highs and trade deficit worse than expected, analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets Jim Rogers: “The Worst is Not Over” 6/9/2009 A REALITY CHECK ON U.S. 'ECONOMIC RECOVERY' Jeff Nielson - U.S. equities are rallying again today, and (as usual) it is a rally with no basis in reality. Markets See a Breakdown in Technical Support Levels `Roubini: USA sees double-dip recession...` Jobless claims rise; GDP dips in 1Q Bernanke faces GOP-led (who are they kidding-bushies/paulsen went so far as threaten martial law- prosecute now! They continue to allow the wall street fraud and political theater doesn’t change their complicity) heat on BofA-Merrill deal Fed Tried to Cover-up Its Involvement in Bank of America-Merrill Deal U.S. Economy: Jobless Claims Rise in Sign Labor Market Stagnant Dollar drops on reserve currency doubts China sells US bonds to ’show concern’ BRICs May Buy Each Other’s Bonds in Shift From Dollar China’s holding of US bonds drops first time in 11 months Russia to Raise Reserve Currency Issue at BRIC International Demand for Worthless U.S. Assets Slowed in April IMF says worst not over `Senator cashed out during big stock collapse -- after meeting with Fed, Treasury chiefs! America's AAA downgrade danger...` Treasury faces pressure on price of TARP exit A depression so deep even teen shoppers scrimp US cities may have to be bulldozed in order to survive 1st quarter wiped out $1.3 trillion for Americans Get Ready for Inflation and Higher Interest Rates Oil prices near $73 as energy rally continues Fed Would Be Shut Down If It Were Audited Fed says economy weak, but sees signs the slide increasing Mounting deficits spark jitters about U.S. economy Wall Street falls as realities dent recovery hopes Bonds fall on worries about government's debt load (AP) Oil prices strike new high for 2009 (AP) The depression quietly deepens `CHINA AIRS FEARS ON DOLLAR, DEBT...` `Oil hits 7-month high over $70...` Yes, We’re STILL In a Depression China Bank Wants U.S. Bonds Issued in Yuan Fake government job loss report near 40% better than private forecasts…I don’t think so!…9.4% unemployment rate…try well over 10% and with stopped looking included over 20% , Jim Rogers CNBC - Jun 4th, 2009 - Currency Crisis Ahead U.S. unemployment hits record but job losses slow if you foolishly believe fake government reports near 40% better than private estimates - I don’t think so! …now China explores buying $50bn in IMF bonds US retailers report May sales declines `Tiny Tim says dollar assets safe...` `Laughter from audience...` Why The Chinese Laughed At Geithner ----- mortgage apps. down, service sector job losses/factory orders worse than expected, new record continuing unemployment claims, bernanke spend more money you don’t have but cut debilitating deficit…riiiiight…sounds like a plan with more job losses to come, etc., Economic data disappoint, indicate slow recovery Worse-than-expected economic data thwarts rally Jobless rates in U.S. cities zoom higher in April Sector Snap: Homebuilders tumble (AP) As the Dollar Falls Off the Cliff … Bernanke warns on deficits as Treasury rates rise ----- `GOV'T OWES RECORD $63.8 TRILLION...` The Big Collapse Is Very Near Dollar Declines as Nations Mull Reserve Currency Alternative Dollar Falls Most In A Month Since 1985 Leap in U.S. debt hits taxpayers with 12% more red ink Gold jumps above $970/oz as dollar weakens Double-Dip Depression , New Record Continuing Unemployment Claims, Marc Faber: “I Am 100% Sure that the U.S. Will Go Into Hyperinflation” Why We'll See Another Serious Equities Sell-Off Obama continuing Bush’s assault on the middle class `Government will now own 72.5% of 'New GM'...` `Roubini: U.S. economy to dip again next year...` Case-Shillers index shows new record decline in real estate prices, $80+ oil coming this year Dallas Federal Reserve: Unfunded Pension and Health-Care Liabilities Exceeds $99 Trillion Dollars Waterboard the Fed Obama: We Are Broke. Well, Duh! Russia Rationally Dumps Dollar as Reserve Currency - Adopts Euro , new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., `BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY...` `,` world economy to shrink by worse than previously predicted 2.9% and big difference between not getting worse and getting better, leading indicators up far more than expected … bull st …based in large part on inflated stock price component … more bull st … new reform with same old frauds say increased capital requirements and oversight of the overseers/rating agencies (riiiiight!…same old,same old - already have but no will to enforce existing laws, etc.), analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets Insiders Exit Shares at the Fastest Pace in Two Years `BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY...` The Next Bubble Is Here. Have You Bought In? `Here we go again! Barney Frank asks FANNIE and FREDDIE to relax Mortgage lending rules...` Fed Tried to Cover-up Its Involvement in Bank of America-Merrill Deal Dollar And Stocks Drop As China Calls For New Global Currency Citigroup Ordered to Suspend Some Operations in Japan Bernanke Grilling May Weaken Case for Fed as Risk Regulator Citi boosting salaries to offset lower bonuses, allegedly to retain the clowns who helped make them taxpayer dependant and cause the current debacle; how ‘bout firing them instead and offering opportunity to the new, particularly non-ivy league vegetable garden grads [$$] Market Suffers Some Technical Damage Stocks tumble on bleak outlook for world economy U.S. Home Prices Drop 6.8 Percent in April as Foreclosures Rise [$$] Red Roof Inn Defaults on Mortgage Debt (at The Wall Street Journal Online) MySpace to cut two-thirds of global workforce GM to cut 4,000 more white-collar jobs by year end Oracle tops forecasts despite sales, profit dip; stated another way, bad news will be shilled as good news (AP) California Collapsing Bankster “Holiday” Planned for September? Recession Sparking Global Unrest Is Your Portfolio Ready for the Next Leg Down? S&P turns negative for year in broad sell-off (Reuters) Goldman Sachs on pace for record bonuses: report (Reuters) Numbers On Welfare See Sharp Increase Top Insiders Playing You For A Sucker? The death of the dollar. Who could deny it? Stanford indicted in massive U.S. fraud case which is small potatoes compared to ubiquitously massive wall street securities fraud which caused the ongoing financial debacle Venture Capital Bubble Set to Burst, Kedrosky Says Obama Plans to Cut Bank Regulators, Allow Fed to Supervise Financial Holding Companies – The old fox guarding the henhouse tricks Federal Reserve unwisely to gain power under plan Federal Reserve Foolishly To Be Given Sweeping New Powers Yen Strengthens Most in Month as Asian Stocks Drop, Gold Gains `RUSSIA CHALLENGES WORTHLESS DOLLAR...` AIG says former top exec plundered retirement plan [video] The Too-Big-to-Fail Problem [6.8 min] (at MarketWatch) [$$] Too Big to Solve? (at The Wall Street Journal Online) Buy and Hold Is Dead. Long Live Buy and Hold! Financial Bailout Plan Keeps Zombie Banks Alive Bernanke then as now in denial about looming crisis 2005-2007 Retail sales, drop in jobless claims to a very high even if believed 601,000 yielding record continuing claims of 6.8 million fuel hope…if you’re a dope Lawmakers blast Fed, Treasury for BofA "threats" Oil climbs over $73 on hopes for rising demand U.S. Household Worth Fell by $1.3 Trillion in First Quarter Predictions of $250 a barrel on oil ECB Fears Reality of Banking Crisis in 2010: Report Get Ready for Inflation and Higher Interest Rates Bill To Audit Federal Reserve Now Has 209 Co-Sponsors Russia May Swap Some U.S. Treasuries for IMF Debt Fed report shows losses on Bear Stearns, AIG holdings Congress subpoenas the Fed ... Finally! (AP) Brazil in recession, recovery unlikely this year What a “Jobless Recovery” Really Means: A Massive Redistribution of Wealth from the Little Guy to the Big Boys Obama Tells American Businesses to Drop Dead America’s Fed Addiction “87 Percent of [Chinese] Respondents Believe China’s u.s. Dollar-Assets are Unsafe” Fed Said to Retreat From Seeking Power to Sell Its Own Debt/Bills `WIRE: Obama Tells American Businesses to Drop Dead...` Long-Term Economic Memory Loss Obama’s economic model versus reality Reality bites Internet as 1Q ad sales fall 5 pct (AP) CHINA AIRS FEARS ON DOLLAR, DEBT government reports better than private estimates…riiiiight! President of the Federal Reserve Bank of Kansas City Warns of Oligarchy U.S. unemployment hits record but job losses slow if you foolishly believe fake government reports near 40% better than private estimates - I don’t think so! …now Benefit spending soars to new high $100 Billion Bailout For IMF Tagged On To War Funding Bill Economic recovery is wishful thinking Gold, Silver Climb as Dollar Falls `OPEC: OIL COULD REACH $90...` ----- Existing home foreclosure sales up, and no profit discount car sales better than expected Diluting like crazy through new stock bubble issues Market Manipulation/Fraud: How Financial Markets Really Work Economist Warns Fed Will Bring About Zimbabwe Style Hyperinflation The $4 trillion housing headache (at Fortune) foreclosure sales up, prices down , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

ANALYST FORECASTS: BULLS AND BEARS By Richard Shaw [there were 3 bull forecasts which are bull s**t and not included in the following excerpt to preclude fraud and conserve space; even the neutrals are a stretch]
…..BEAR - May 30: Morgan Stanley equity analyst Jason Todd says sell this S&P 500 rally. He says Morgan Stanley does not see large upside above 825-850. He said, “In the rush to buy a cyclical recovery, it seems earnings or valuation no longer matters. We would be comfortable with this view if the earnings trough was closer, but it is not.”

BEAR - MAY 28: Berkshire Hathaway possible successor to Warren Buffet, David Sokol, says they see no evidence of the green shoots that been a stimulus to the stock market. He sees the most significant headwinds to the electric utility industry in his 30 years, and see continuing housing industry problems.

BEAR?/BULL? - May 28: PIMCO co-CEO Bill Gross (manager of world’s largest bond fund) portrays “new normal” including accelerating inflation toward the latter part of a three- to five-year cycle, and the need to reexamine accepted notions about investing. He said stocks have not and will not always outperform bonds, and having 60% to 80% of portfolio assets in stocks may not always make sense. He believes the dollar will lose its status as the reserve currency; Brazil, India and China (forget Russia) will offer the best growth. The U.S. government will be selling trillions in Treasuries; the US savings rate may rise significantly, and the consumer economy may be shrinking long term due to the aging of the population.

BULL?/BEAR? - May 28: GMO CEO Jeremy Grantham predicts higher US savings and lower consumption with many postponed retirements. He sees some reasonable values within the stock market now and sees the third year of the presidential cycle (2011) as the most promising. He is not certain that a robust rally will continune. Like John Bogle, he believes in the principle of having your age as the percentage of bonds in your portfolio. He expects a bubble in emerging market stocks to develop.

BEAR - MAY 26: Comstock Partners portfolio managers Charlie Minter and Marty Weiner, say P/E’s on “as reported earnings” are too high in consideration of the long-term trend in earnings (now in down phase). “Over the past 75 years, most market peaks topped at around 20 times reported earnings, and the troughs occurred at around 10 times earnings. The financial mania of the late 1990s pushed P/Es to over 40 times reported earnings, and the following bust never brought P/Es below 18 times reported earnings. … Going back to 1950, every instance where actual earnings rose above trend-line earnings was followed by a period where actual earnings went well below trend-line earnings. Comstock Partners believes that we have entered such a period now, and that the market is trading at such a high multiple of trend-line earnings that it will be difficult to make money.”

BEAR - May 19: Gluskin Sheff analyst David Rosenberg (formerly of Merill Lynch) says this rally is a sucker’s rally based on short covering. “The FTSE All-World market P/E ratio on forward earnings estimates is now around 15x, well above pre-Lehman collapse levels and nearly double the lows for the cycle … this was a rally built largely on short covering, pension fund rebalancing and the emergence of hope wrapped up in ‘green shoot’ data points. … On average, the S&P 500 undergoes a correction of more than 20% … at a minimum, take profits”

NEUTRAL (BEAR?) - May 11: Baring Asset Management portfolio manager Hayes Miller says “Estimates suggest there isn’t that much further to run because equities are fairly valued … Earnings growth for 2009 and 2010 can’t support prices too much higher than where we are today.”

BEAR - May 11: HSBC Global Asset Management chief investment officer Leon Goldfeld, chief investment officer at HSBC Global Asset Management said it’s “hard to see” enough profit growth to justify higher stock prices. The firm’s strategy will be to reduce its holdings of equities and move into bonds and cash, he said.Bloomberg TV on June 1, said HSBC forecasts 900 as the year-end price for the S&P 500 index.

NEUTRAL - May 11: Bloomberg compilation of analyst forecasts of 2009 earnings for the S&P 500 is at $57.17 (not stated whether “as reported” or “operating”). As of June 1, that puts the S&P at about 16.5 times forecasted earnings. Yale economist Robert Schiller said the historic average is a multiple of about 16.3. [we note that we are not in an average situation or stage of a market, however].

BEAR - May 11: Bank of America CIO for private wealth management expects a 10% correction. He said, “We’re going to be in a very volatile, chop-and-grind type of market. We’ve been shown that there is a small light at the end of the tunnel, it’s dim but getting brighter, and that’s why stock prices have come this far this fast. Now, it’s all about ‘show me.’”

BEAR?/ BULL? - May Letter: PIMCO co-CEO Bill Gross wrote: “Do not be deceived by the euphoric sightings of “green shoots” and the claims for new bull markets in a multitude of asset classes. Stable and secure income is still the order of the day. Shaking hands with the new government is still the prescribed strategy, although it should be done at a senior level of the balance sheet. If the government indeed becomes your investment partner, you should keep the big Uncle in clear sight and without back turned. Risk will not likely be rewarded until the global economy stabilizes and the Obama rules of order are more clearly defined.”

BEAR - April 17: Barclay’s analyst Barry Knapp forecasts S&P 500 at 757 by year-end 2009. He said, “The equity market has priced this recovery and then some. It looks pretty expensive to us.”

(7-1) SELL / TAKE ANY PROFITS IN THIS SECULAR BEAR MARKET SUCKERS’ RALLY PROGRAMMED TO KEEP SUCKERS SUCKERED [ Insiders Exit Shares at the Fastest Pace in Two Years ] AND COMMISSION DOLLARS FLOWING [ Goldman Sachs on pace for record bonuses: report (Reuters) [$$] Big Pay Packages Return to Wall Street as new fraud gains steam (at The Wall Street Journal Online) ] BASED ON CONTINUED BAD NEWS ( ie., BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY... Job losses / job concerns realistically weigh on confidence, real estate values/prices continue downward trend as per Case / Shiller Index (-18.1%, -21% in california) Gerald Celente speaks on Cap and Trade and other handicaps to the US economy HOW MANY TIMES CAN THE WALL STREET FRAUDS, WITH CYCLICAL REGULARITY, DO THE SAME OR SIMILAR FRAUD WITH IMPUNITY (STILL NOT ONE PROSECUTION IN THE MOST RECENT MASSIVE SECURITIES FRAUD, BUT PLENTY OF OBFUSCATION EMANATING FROM THE PERPETRATORS AS WELL AS THOSE WHO SHOULD BE PROSECUTING /PURSUING THEM) NOW REFLATING THE STOCK MARKET BUBBLE BASED UPON NOTHING AT ALL (BAD NEWS,FRAUD AND BULL S**T), CHANGING ACCOUNTING RULES TO FACILITATE THE COMMISSIONABLE BUBBLE FROM WHICH THE SOURCE OF FUNDS TO EVEN PAY BACK LOANS TO AVOID SCRUTINY OF THEIR NEW FRAUD IS GENERATED [SAVINGS AND LOAN DEBACLE, DOT.COM SELL THE SIZZLE BUST /DEBACLE, RECYCLED /REPACKAGED /RESOLD /RECOMMISSIONED WORTHLESS COLLATERALIZED SECURITIES /PAPER (IN THE TRILLIONS YET STILL NOT ADDRESSED), ETC., THE FRAUDS ARE GETTING LARGER, HENCE THE RIDICULOUS TOO BIG TO FAIL MANTRA … HOW PATHETIC! … THAT MONEY HAS TO COME FROM SOMEPLACE, IE., PRINTING, CREATING, YOUR POCKETS, … NOT OUT OF THIN AIR! ] TYPICAL END OF QUARTER FRAUD/WINDOW DRESSING TO KEEP SUCKERS SUCKERED [ Insiders Exit Shares at the Fastest Pace in Two Years ] AND COMMISSION DOLLARS FLOWING [ Goldman Sachs on pace for record bonuses: report (Reuters) ] BASED ON CONTINUED BAD NEWS ( ie., BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY..., personal income up modest .2% and spending down, China calls for new reserve currency to supplant worthless dollar Dollar And Stocks Drop As China Calls For New Global Currency , continuing unemployment claims at or near record 627,000, weekly unemployment claims up 15,000, and GDP contraction –5.5%, all worse than expected (lennar wider than expected quarterly loss rallies stock…riiiiight!) Jobless claims rise; GDP dips in 1Q ; soothing words/b.s. from fed which previously predicted no recession that economy still contracting but that the contraction is somewhat slowing…what b**l s**t!…, analysts- buffet/economy in shambles, Hogan/negative GDP growth and inflation owing to debasement of the dollar as well as deficit spending/pump-priming in the trillions, joker stein/economy a mess and continued job losses, new home sales down .6%; U.S. Home Prices Drop 6.8 Percent in April as Foreclosures Rise foreclosure sales up 2.4%, prices down 17% year over year, [$$] Market Suffers Some Technical Damage Stocks tumble on bleak outlook for world economy U.S. regulators close their 40th bank of the year , Next Major Move In Stock Market Will Be Down world economy to shrink by worse than previously predicted 2.9% and big difference between not getting worse and getting better, market got ahead of itself, stalled out, still depression/more job losses, higher oil-gas prices / higher interest rates / heavy debt to pare down is 1-3 year drag on economy, even if believed (I don’t) the labor dept. far better than expected job numbers by increased debt (spending) to produce same is not economically sound or sustainable, viz., record spending with record low revenues, rating cuts for bank sector, analysts concur in significant 5-15% (reality says 15-25%) pullback/correction for stocks , institutional selling, industrial production/construction down 1.1%, housing starts allegedly up but if believed will only increase the plethora of unsold inventories, empire manufacturing index suffers unexpectedly severe decline…daaaah!, credit dard defaults at record high, analysts concur that fundamentals don’t support stock rally and that pac money(defacto bribes) might derail any meaningful reform/regulation which is of concern to the frauds on wall street who should be prosecuted, record loss of wealth, higher gas prices, job losses, higher interest rates / yields, higher commodity prices, higher deficits, hyperinflation, record continuing unemployment claims at 6.8 million, worthless Weimar dollar crashing, money supply exploding with hyperinflation/higher interest rates coming, budget deficit at new highs and trade deficit worse than expected, analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets , new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY... , world economy to shrink by worse than previously predicted 2.9% and big difference between not getting worse and getting better, leading indicators up far more than expected … bull s**t …based in large part on inflated stock price component … more bull s**t … new reform with same old frauds say increased capital requirements and oversight of the overseers/rating agencies (riiiiight!…same old,same old - already have but no will to enforce existing laws, etc.), analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets Insiders Exit Shares at the Fastest Pace in Two Years BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY... foreclosure sales up, prices down , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

(6-30) SECULAR BEAR MARKET SUCKERS’ RALLY TO END WELL OFF SESSION LOWS TYPICAL END OF QUARTER FRAUD/WINDOW DRESSING TO KEEP SUCKERS SUCKERED Job losses / job concerns realistically weigh on confidence, real estate values/prices continue downward trend as per Case / Shiller Index (-18.1%, -21% in california) Consumer confidence suffers steep fall... Home prices post 18% annual drop... Worldwide Depression: Review of Global Markets . Four banks fail, bringing 2009 tally to 19 more than all of 2008 at a total thus far of 44 Dollar Falls Most in Month as China Urges New Reserve Currency Gerald Celente speaks on Cap and Trade and other handicaps to the US economy HOW MANY TIMES CAN THE WALL STREET FRAUDS, WITH CYCLICAL REGULARITY, DO THE SAME OR SIMILAR FRAUD WITH IMPUNITY (STILL NOT ONE PROSECUTION IN THE MOST RECENT MASSIVE SECURITIES FRAUD, BUT PLENTY OF OBFUSCATION EMANATING FROM THE PERPETRATORS AS WELL AS THOSE WHO SHOULD BE PROSECUTING /PURSUING THEM) NOW REFLATING THE STOCK MARKET BUBBLE BASED UPON NOTHING AT ALL (BAD NEWS,FRAUD AND BULL S**T), CHANGING ACCOUNTING RULES TO FACILITATE THE COMMISSIONABLE BUBBLE FROM WHICH THE SOURCE OF FUNDS TO EVEN PAY BACK LOANS TO AVOID SCRUTINY OF THEIR NEW FRAUD IS GENERATED [SAVINGS AND LOAN DEBACLE, DOT.COM SELL THE SIZZLE BUST /DEBACLE, RECYCLED /REPACKAGED /RESOLD /RECOMMISSIONED WORTHLESS COLLATERALIZED SECURITIES /PAPER (IN THE TRILLIONS YET STILL NOT ADDRESSED), ETC., THE FRAUDS ARE GETTING LARGER, HENCE THE RIDICULOUS TOO BIG TO FAIL MANTRA … HOW PATHETIC! … THAT MONEY HAS TO COME FROM SOMEPLACE, IE., PRINTING, CREATING, YOUR POCKETS, … NOT OUT OF THIN AIR! ] TYPICAL END OF QUARTER FRAUD/WINDOW DRESSING TO KEEP SUCKERS SUCKERED [ Insiders Exit Shares at the Fastest Pace in Two Years ] AND COMMISSION DOLLARS FLOWING [ Goldman Sachs on pace for record bonuses: report (Reuters) ] BASED ON CONTINUED BAD NEWS ( ie., BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY..., personal income up modest .2% and spending down, China calls for new reserve currency to supplant worthless dollar Dollar And Stocks Drop As China Calls For New Global Currency , continuing unemployment claims at or near record 627,000, weekly unemployment claims up 15,000, and GDP contraction –5.5%, all worse than expected (lennar wider than expected quarterly loss rallies stock…riiiiight!) Jobless claims rise; GDP dips in 1Q ; soothing words/b.s. from fed which previously predicted no recession that economy still contracting but that the contraction is somewhat slowing…what b**l s**t!…, analysts- buffet/economy in shambles, Hogan/negative GDP growth and inflation owing to debasement of the dollar as well as deficit spending/pump-priming in the trillions, joker stein/economy a mess and continued job losses, new home sales down .6%; U.S. Home Prices Drop 6.8 Percent in April as Foreclosures Rise foreclosure sales up 2.4%, prices down 17% year over year, [$$] Market Suffers Some Technical Damage Stocks tumble on bleak outlook for world economy U.S. regulators close their 40th bank of the year , Next Major Move In Stock Market Will Be Down world economy to shrink by worse than previously predicted 2.9% and big difference between not getting worse and getting better, market got ahead of itself, stalled out, still depression/more job losses, higher oil-gas prices / higher interest rates / heavy debt to pare down is 1-3 year drag on economy, even if believed (I don’t) the labor dept. far better than expected job numbers by increased debt (spending) to produce same is not economically sound or sustainable, viz., record spending with record low revenues, rating cuts for bank sector, analysts concur in significant 5-15% (reality says 15-25%) pullback/correction for stocks , institutional selling, industrial production/construction down 1.1%, housing starts allegedly up but if believed will only increase the plethora of unsold inventories, empire manufacturing index suffers unexpectedly severe decline…daaaah!, credit dard defaults at record high, analysts concur that fundamentals don’t support stock rally and that pac money(defacto bribes) might derail any meaningful reform/regulation which is of concern to the frauds on wall street who should be prosecuted, record loss of wealth, higher gas prices, job losses, higher interest rates / yields, higher commodity prices, higher deficits, hyperinflation, record continuing unemployment claims at 6.8 million, worthless Weimar dollar crashing, money supply exploding with hyperinflation/higher interest rates coming, budget deficit at new highs and trade deficit worse than expected, analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets Jim Rogers: “The Worst is Not Over” 6/9/2009 , new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY... , world economy to shrink by worse than previously predicted 2.9% and big difference between not getting worse and getting better, leading indicators up far more than expected … bull s**t …based in large part on inflated stock price component … more bull s**t … new reform with same old frauds say increased capital requirements and oversight of the overseers/rating agencies (riiiiight!…same old,same old - already have but no will to enforce existing laws, etc.), analyst who called crash says inflationary depression, banks passed stress tests only with the help of fraudulent change in accounting rules, banks still insolvent, toxic assets even more toxic, dollar falling and a lot lower to go, $100 + oil by end of year, Obama/bernanke continuing failed policies of bush greenspan, recommends getting out of Dodge and u.s. assets Insiders Exit Shares at the Fastest Pace in Two Years BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY... The Next Bubble Is Here. Have You Bought In? foreclosure sales up, prices down , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

Tiny Tim says dollar assets safe... Laughter from audience... Why The Chinese Laughed At Geithner Paul Craig Roberts | The red ink that Washington is generating is a far greater threat to Americans than any foreign “enemies.”

(6-3) ONLY MODEST LOSSES RELATIVE TO REALITY WITH PROGRAMMED SHORT-COVERING/SUCKERS RALLY INTO THE CLOSE TO KEEP SUCKERS SUCKERED BASED ON CONTINUED BAD NEWS ( ie., mortgage apps. down, service sector job losses/factory orders worse than expected, new record continuing unemployment claims, bernanke spend more money you don’t have but cut debilitating deficit…riiiiight…sounds like a plan with more job losses to come, etc., Economic data disappoint, indicate slow recovery Worse-than-expected economic data thwarts rally Jobless rates in U.S. cities zoom higher in April Sector Snap: Homebuilders tumble (AP) As the Dollar Falls Off the Cliff … Bernanke warns on deficits as Treasury rates rise ----- GOV'T OWES RECORD $63.8 TRILLION... The Big Collapse Is Very Near Dollar Declines as Nations Mull Reserve Currency Alternative AND BULL S**T ALONE (ie., $100 Billion Bailout For IMF Tagged On To War Funding Bill Economic recovery is wishful thinking Gold, Silver Climb as Dollar Falls OPEC: OIL COULD REACH $90... ----- , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME!

(6-2) SUCKERS’ RALLY CONTINUES TO KEEP SUCKERS SUCKERED BASED ON CONTINUED BAD NEWS The Big Collapse Is Very Near U.S. auto sales drop, but rays of stability seen Economic crisis boosts distrust of business: watchdog Dollar Declines as Nations Mull Reserve Currency Alternative Grand Theft Auto: How Stevie the Rat bankrupted GM Gold, Silver Climb as Dollar Falls Home foreclosure sales up, no profit discount car sales better than expected

Diluting like crazy through new stock bubble issues YAHOO…To that point, Moody's stated that it expects U.S. rated banks will incur some $470 billion pretax loan losses and write-downs in 2009 and 2010, and also expects many banks will be unprofitable this year. Moody's is keeping a negative outlook on the banking industry rating and the industry's credit outlook. …Semiconductor stocks (-3.3%) showed weakness for the entire session. Their downturn came after Applied Materials (AMAT 11.61, -0.44) chief executive Mike Splinter stated that there will be more failures in the semiconductor equipment sector amid declining customers, according to Reuters... Sacrifices are needed to save GM, Obama tells Americans Guardian | “Difficult times lie ahead,” said Obama. “More jobs will be lost, more plants will close. More dealerships will shut their doors and so will many parts suppliers.” The Big Collapse Is Very Near Robert Wenzel | The end of the current financial system, as we know it, is imminent. Today we’re all prisoners in the USA Ted Rall | Obama wants to let government goons snatch you, me and anyone else they deem annoying off the street so if true, then It’s increasingly evident that Obama should resign Grand Theft Auto: How Stevie the Rat bankrupted GM Greg Palast | Stevie the Rat’s plan is nothing less than Grand Theft Auto Pension. (6-1) MORE CAN’T BE SAID, SO PREPOSTEROUS WAS THIS TYPICALLY FAKE BETTER THAN EXPECTED (RIIIIIGHT!) COMMERCE DEPARTMENT DATA SUCKERS’ RALLY TO KEEP SUCKERS SUCKERED BASED ON CONTINUED BAD NEWS AND BULL S**T ALONE ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! Most U.S. retailers likely saw sales fall in May GM files for bankruptcy, urges quick action GM: A Mighty Icon Files for Bankruptcy Dow gets shake-up as GM, Citi kicked out of average GM removed from S&P 500 index (AP) Stocks Will Fall 37% and Gold Will Rally % Even in Crisis, Banks Dig In for Fight Against Rules New York Times | The nine biggest participants in the derivatives market — including JPMorgan Chase, Goldman Sachs, Citigroup and Bank of America — created a lobbying organization, the CDS Dealers Consortium, a month after five of its members accepted federal bailout money. Zoellick Warns Stimulus ‘Sugar High’ Won’t Stem Unemployment Bloomberg | World Bank President Robert Zoellick warned policy makers that fiscal-stimulus plans are insufficient to turn around the “real economy” (5-29) PROGRAMMED TRADES/SUCKERS’ HIGH OIL/LOW DOLLAR (RIIIIIGHT!) RALLY INTO THE CLOSE TO KEEP SUCKERS SUCKERED BASED ON BAD NEWS ( ie., `GOV'T OWES RECORD $63.8 TRILLION...` Dollar Falls Most In A Month Since 1985 Leap in U.S. debt hits taxpayers with 12% more red ink Gold jumps above $970/oz as dollar weakens Double-Dip Depression , New Record Continuing Unemployment Claims, Marc Faber: “I Am 100% Sure that the U.S. Will Go Into Hyperinflation” Why We'll See Another Serious Equities Sell-Off Obama continuing Bush’s assault on the middle class `Government will now own 72.5% of 'New GM'...` `Roubini: U.S. economy to dip again next year...` Case-Shillers index shows new record decline in real estate prices, $80+ oil coming this year Dallas Federal Reserve: Unfunded Pension and Health-Care Liabilities Exceeds $99 Trillion Dollars Waterboard the Fed Obama: We Are Broke. Well, Duh! Russia Rationally Dumps Dollar as Reserve Currency - Adopts Euro , new record for continuing unemployment claims, fed downgrades outlook that previously provided b.s. for suckers’ rally, record low for new housing starts, etc.) AND BULL S**T ALONE (ie., Market Manipulation/Fraud: How Financial Markets Really Work Economist Warns Fed Will Bring About Zimbabwe Style Hyperinflation The $4 trillion housing headache (at Fortune) foreclosure sales up, prices down , ‘SELL IN MAY AND GO AWAY’, so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! (5-28) Sowell: Government’s Current Role in Business the ‘Route’ to Fascism Foreclosure woes mount for those with good credit Fed Finds a Way to Use Stress Tests to Screw Bank Shareholders One More Time (at Seeking Alpha) Time Warner to spin off AOL, ending ill-fated deal [$$] Listen, But Don't Get Suckered `Faber: Inflation to 'Approach Zimbabwe Level'...` U.S. Weighs Single Agency to Regulate Banking Industry Yet Ignores Existing Laws, Prosecution, and Disgorgement in this Huge Fraud…Why (5-27) Britain's Debt Outlook Gets Bleaker: Same Implications for the U.S…how could anyone be surprised about that? Regulators shut 2 more, 35 and 36, failed banks this year in Illinois (AP) GM borrows $4 billion more, prepares for bankruptcy Job losses up in 44 states as recession drags on Florida's BankUnited fails, will cost FDIC $4.9B (AP) Regulators seize 34th bank failure of year Florida's BankUnited FSB (AP) Treasury Selloff Spiking Interest Rates GM bankruptcy seen near GM all but certain to file for Chapter 11 US Government to Take Up 70% Stake in GM FDIC Fund Running Dry Yahoo Finance | As the FDIC has had to step in to take over more and more insolvent banks, the fund has dwindled to dangerously low levels. At the same time, the number of problem banks continues to grow at a rapid pace. IRS tax revenue falls along with taxpayers’ income USA Today | Federal tax revenue plunged $138 billion, or 34%, in April vs. a year ago — the biggest April drop since 1981. (5-26) fake consumer confidence reading 30+% better than private estimate sucker-rallies stocks , Current Recession Is Tracking the 1930s Bear Market , Another Bottom for Stocks Coming: Rogers (at CNBC) , The Sleepwalkers' Rally , Rogers Echoes Warning Of “Sucker’s Rally” , don’t forget that the suckers rally stock prices accounted for the very modest but ephemeral uptick in leading indicators Dallas Federal Reserve: Unfunded Pension and Health-Care Liabilities Exceeds $99 Trillion Dollars ) , (5-22) Regulators shut 2 more, 35 and 36, failed banks this year in Illinois (AP) GM borrows $4 billion more, prepares for bankruptcy Job losses up in 44 states as recession drags on Bill to Audit Fed Wisely Gains Serious Momentum U.S. to Steer GM Toward Bankruptcy Gold tops $960 for first time in two months as dollar weakens South Afica gold coin demand hits all time high Peter Schiff called “Extremist” by Time Magazine Geithner Vows to Cut U.S. Deficit on Rating Concern…riiiiight!…con Gold Poised for Third Weekly Gain as Dollar Slumps Against Euro “The Odds on the Dollar, Treasury Bonds and the U.S. Government’s AAA Grade All Heading for the Dumpster are Shortening” (5-21) Britain's Debt Outlook Gets Bleaker: Same Implications for the U.S…how could anyone be surprised about that? GMAC receives $7.5 billion in new Treasury aid (AP) Dollar hits '09 low on rating fears; stocks dip (Reuters) U.K. to Lose AAA Rating at S&P as Finances Weaken U.S. Stocks Decline on Jobless Claims, greenspan, who helped create the debacle and should thereby know, Warning Gold May Test $1,200 (5-20) The Weimar Hyperinflation is Happening Again! With fed printing/creating like mad, what did they expect? Rogers Echoes Warning Of “Sucker’s Rally” Green Shoots: Too Small, Too Far Apart The Sleepwalkers' Rally Former head of pension agency takes the Fifth (AP) Global stocks slip, dollar tumbles after downbeat Fed Depression hits already defacto bankrupt Social Security hard Gold purchases up 36% as investors look to preserve wealth China Gold Reserves May Back Yuan Internationalization-Report 22 reasons why OBAMA will raise your taxes Federal debt is now $11.5 trillion. Add $1.4 trillion this year. That’s almost 100% of GDP. (5-19) Deficit surges at agency that insures pensions (AP) China and Brazil Plan to Dump Dollar HP's profit drops, more layoffs looming Japan logs record GDP drop Senator: More oversight needed at insolvent pension agency (AP) Inflating Our Way Out of This Mess? Why This Won't Work Japan's economy in record plunge Jim Rogers: Obama will Devastate the Economy This Economy Ain't Healed Yet (at Seeking Alpha) (5-18) Suckers’ rally (The Suckers Rally, Japan Style …high oil price rally…riiiiight! ) Bilderberg 2009 Attendee List (revised) Meanwhile: The Bilderbergers are advancing in Norway [ I realize that jones (who parenthetically it should be noted, hypocritically censored my comments) et als really overdoes this group’s (among others) effect on the u.s. , state of the world, etc.; truth be told, this group like most of the interest/pressure groups including the masses, in the u.s., etc., are no more than a just a bunch of fk-ups/vegetables who like the aforementioned multitudes have really ‘mucked things up’ (for lack of a more precise yet concise term) on this planet, probably irrevocably, and like the many home-grown fk-ups/vegetables, and in america particularly criminals, jones refuses to acknowledge as culpable for the many reasons he refuses to see, are but rather typically incompetent players contributing in there own very special eccentric, neurotic, sick, venal, corrupt, etc., way to this collective and cumulative result being this ever deflating (declining) ball of chaos /confusion /criminality called earth (there are exceptions to the foregoing, but in america, the same would be 5% or less) ]. Economy limiting services of local police Madoff Investors Probed by U.S. Prosecutors yet still not even one prosecution of the perpetrators of the largest scam/fraud in history foisted off on/funded by taxpayers Rep. Paul’s bill to audit Federal Reserve nets 165 co-sponsors is the first of what should be many necessary wise moves American Capitalism Gone With a Whimper The Shrinking American Consumer The Suckers Rally, Japan Style Gold likely to test $950 level this week `Blue collar males lose more ground; unemployment rate surges past national average...` (5-15)Highest credit card default rates in 26 years at 10+%, the real economy in terms of unemployment, income, and debt far worse than their rosy ‘green shoots’ scenario to help froth the market. Wall Street sags on oil; S&P ends worst week in 2 months Following Chrysler, GM slashing U.S. dealers “The Worst Is Yet to Come” Yahoo Finance | “If the consumer isn’t petrified, he or she is a damn fool.” (5-14)All news worse than expected, ie., weekly job losses higher than expected 637,000, wholesale inflation rate .3%, BEAR ALARM US ’sham’ bank bail-outs enrich speculators , The Secrets of the Federal Reserve Bob Chapman | A manmade disaster created by the Federal Reserve, banking and Wall Street, and these are the same corrupt group who our government has chosen to rectify the problem. The Economy Will Not Recover Until The Perpetrators Of Our Crises Are Held Accountable etc., It’s worth noting in a Wall Street Journal editorial hedge fund manager Andy Kessler said in no uncertain terms, “this sure smells to me a suckers rally,” largely because “there aren't sustainable, fundamental reasons for the market's continued rise.” I’m skeptical about this rally, reveals analyst Guy Adami. U.S. Economy: Retail Sales Unexpectedly Fall for Second Month GM, Chrysler to cut up to 3,000 dealers: sources (Reuters) U.S. Foreclosure Filings Hit Record for Second Straight Month Is Anyone Minding the Store at the Federal Reserve? Unemployment up to 8.9%, The Economy Will Not Recover Until The Perpetrators Of Our Crises Are Held Accountable , etc.. America is broke. How broke? NSN Money | Government obligations for Social Security and Medicare may soon exceed the combined net worth of every household and nonprofit organization in the country. Everyone is familiar with the old saying, "what goes up must come down." Certainly the stock market has mounted a serious challenge to this old saying since bouncing off its lows in March and continues to defy gravity…In the face of unrelenting bad news, the market has been climbing because the news is "less bad," Gentle Ben and his Merry Band of Feds see "green shoots" and the financial press continues an unrelenting mantra of "recovery lies just ahead." It seems like the markets will never stop climbing, but they will, because contrary to what you hear on CNBC and read in the financial press, the laws of gravity have not been repealed and it's still true that "what goes up, must come down."

…When measured in ounces of Gold, the DOW has been in a secular bear market since peaking in late 1999. (Click charts, courtesy of stockcharts.com, for full size image). The markets, measured by the S&P500 (S&P500 Charts) and DIJA (DJIA Charts), may have recovered to new highs in 2007, but the DOW:Gold ratio told a different, truer story of just how unhealthy the US economy was…

BEWARE OF THE SUCKER'S RALLY? ‘…Most recently, the S&P 500 soared 24 per cent over seven weeks ending in early January, only to plunge to a new low. It was a fairly typical sucker’s rally and bear markets often need more than one to create sufficient disillusionment for a definitive bottom. The 2000–2002 bear market had three, with average gains of 21 per cent in the Dow Jones Industrials over 45 days. The granddaddy of all bear markets, 1929 –1932, had six false alarms with an average gain of 47 per cent. And Japan’s ongoing bear saw the Nikkei rise by at least a third four times in its first four years with 10 more false dawns since then. Bear markets typically end with a whimper rather than a bang, casting doubt on the latest recovery according to Hussman Econometrics, which analysed numerous US market bottoms and bear market rallies. With the exception of the 1987 crash, the month before the lowest point of a downturn saw a gradual descent. By contrast, bear market rallies were preceded by steeper declines and had sharper rebounds. Another characteristic of bear market rallies has been modest volume on the rebound compared to the decline. The current recovery fits the pattern of bear market rallies in terms of volume and the “V” shape of the trough. Analysts at Bespoke Investment Group noted that there have been only seven other periods in the past 110 years with rallies of similar magnitude for the Dow. Three preceded the Great Depression, three came during the Depression and one in 1982…’
New record for continuing unemployment claims and as with all government data, adp data, etc., is fudged to whatever way necessary to help froth the market. Short-covering explaining part of what remains of this continuing suckers’ bear market rally and as admonished by analyst at Farr Miller is a bull trap. How about plain old bull crap! One analyst (Craig Brown) points out that we’re not at the bottom yet: excerpt-‘ I hate repeating myself, but I do not see the economy at bottom just yet, so in some respects I will keep repeating myself until either other people wake up to this reality or something changes to wake me up. The markets were down a bit yesterday and, according to Bloomberg, they were down due to fears of the stress test results. I don't fear them; I fear what they hide. I fear that a reported 10 out of 19 banks failed when the tests were not at all stringent enough. I fear that the government will soft-pedal the results to make them bad enough to have a tad of credibility but not so bad that people run for the exits. Don't buy my word for it, others are saying the same, including Nouriel Roubini. Nouriel has been complaining for weeks on how the worst case scenario in the stress tests is already rosier than reality.’ Some perspective from Sajal… Excerpts – ie., …Mark Hulbert: That bullish bandwagon. Commentary: Some sentiment measures showing too much optimism Art Cashin: "This rally is still somewhat suspect. Albert Edwards : "Despite one of the biggest economics and profit collapses in history, US stocks have failed to get cheap in the same way that they have in Europe or Japan. My concern is that the US equity bear market has not yet fully played out. "The current pop in the market is not dissimilar to the many bear market rallies between 1929-1933, where signs of economic stabilisation were met with 25% plus rallies... This optimism was subsequently crushed." Charles Allmon … He still thinks the stock market could decline to 3,200-4,200 on the Dow by 2011-2012 -- and that it could cross the price of gold. Jim Bianco: "I don't think we are getting out of this for a long while. This has been a lousy stock rally. … …traders living in a fool's paradise if they continue to drive the markets higher by buying stocks based on earnings that are down, say, 50 percent from this time last year, only because they're not down 75 percent… Diane Garnick, investment strategist at Invesco...In an interview on Tech Ticker, Garnick says that companies are beating earnings expectations in the first quarter by Draconian cost-cutting, an unsustainable strategy for long-term growth. More importantly, although companies are beating profit estimates, thanks to the cost-cutting, they are missing expectations for revenue, she says. Further, cost-cutting via layoffs hurts the economy as a whole, Garnick argues, because the unemployed spend less money… U.S. Economy: GDP Shrinks in Worst Slump in 50 Years "You have to balance hope with reality," says Doug Sandler, chief equity officer at Riverfront Investment Group. Sandler tells Andrew O'Day "this is a good example of a year where you probably have a lot of hope early, then the reality coming through…” …[The upshot is that the fraud continues in churn-and-earn fashion with investors, taxpayer, etc., getting burned for the sake of wall street greed/fraud. The lunatic wall street frauds’ desperation linked to their substantial crimes and booty which must be disgorged through prosecution, especially since none of the real problems (hundreds of trillions of fraudulent/worthless securities, etc. - Analyst Andre Egleshion puts the amount at $600+trillion) have been addressed much less solved; hence, virtually all problems remain and there is but an infinitesimally small fraction of the capital and resources necessary to solve them thanks to fraud, incompetence, lack of knowledge/ability, greed, etc.]. U.S. Economy in 2nd Straight Quarter of Steep Decline "You have to balance hope with reality," says Doug Sandler, chief equity officer at Riverfront Investment Group. Sandler tells Andrew O'Day "this is a good example of a year where you probably have a lot of hope early, then the reality coming through Wall Street sags on oil; S&P ends worst week in 2 months Following Chrysler, GM slashing U.S. dealers SEC lawyers probed for insider trading GM, Chrysler to drop 1,900 dealers by end of 2010 The Financial Storm Obama Says U.S. Long-Term Debt Load ‘Unsustainable’ “The Worst Is Yet to Come” China’s yuan ’set to usurp US dollar’ as world’s reserve currency Former Treasury Official who Devised Formula for Rate-Setting Based on Outlook for Inflation and Growth Warns that Inflation Looms, Slams Fed Policy Dr. Doom: Capitalism Could Fail Like Communism New York Fed: Most Powerful Financial Institution You’ve Never Heard Of along with the missing $4 trillion you’ve never heard of Home Prices Drop Most on Record... Federal Hiring Frenzy......average pay $75,419 A Coming Flood of Equity Issuance, aka The Dilution Solution Fed cut banks' deficits after negotiations: sounds like a plan…riiiiight!…report Buffett's Berkshire has first loss since 2001 Are stocks a loser's bet?YES! Deficits soar even with rosy assumptions in new Obama budget... America is broke. How broke? White House forecasts higher budget deficit US red ink rising even higher, to $1.8T Deficits soar even with rosy assumptions in new Obama budget... STIMULUS WATCH: Early road aid leaves out neediest; Auditors can't track transportation funds... Gas price jumps to 6-month high... Six GM executives sell more than 200,000 shares John Hussman: Post Crash Bubbles …Unfortunately, “fear” lows are only evident in hindsight, because as we saw in 2008, a deeply oversold market can become spectacularly more oversold before recovering, and the “fast, furious” spikes off of those lows are often followed by steep failures.... Fed Inspector General Claims She Does Not Know Where Trillions Went Rep. Alan Grayson | Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is. Recovery? What Recovery? Newsweek | Don’t tell me that the economy is getting better, or has even hit rock bottom. Prospects of a quick economic recovery are but fool’s gold Boosting The Dying Dollar With A False Rally Suckers rally sets up the unwinding of the market, Rally just like in 1933, wealth producers becoming impoverished, Fed officer busted for fraud, troubles in the Economy are far beyond fixing, interdependence of banks around the world expected to worsen economic problems. New York Fed chairman Friedman abruptly resigns BEWARE OF THE SUCKER'S RALLY? Betrayal of the People By Wall Street, Banks, and Government FLASH: Treasury Borrows Record $361 Billion for 2nd Quarter... The Great Geithner Coverup Obama Maintains His Perfect Batting Average for Appointing Failed Insiders to Key Economic Posts Secretary of Labor Reich: Unemployment Numbers Show We’re Already In a Depression

Corporate CFR Members Get Most of the Bailout Money New American | Treasury Secretary Timothy Geithner served as a staff member of the New York City-based Council on Foreign Relations before being hired in 2003 to head the New York City branch of the Federal Reserve Bank.Watch out for the fake government stress tests (they lie about everything!). Note the delay in the rollout. Bank analyst Cassidy says bank plan a failure. Business week business analyst /reporter says (tongue in cheek) the optimism (irrational exuberance) must be the advent of spring and the birds chirping (in the heads of the wall street lunatic/frauds…cukoos). Analysts/Economists comments include: slow release of stress test results, details and accuracy of data crucial for stress tests (good luck!), things have not bottomed out but pace of decline has slowed somewhat, bleak outlook for GM, Chrysler and bankruptcy probably necessary because of legacy costs, and public pension funds with ridiculously rich benefits the next shoe to drop. Oxdown Gazette sums up the crucial story | ‘The 12 trillion that is being floated to insolvent US banks is essentially being looted in the paper economy’ (ie., churn and earn by wall street fraudsters who must be prosecuted and forced disgorgement/forfeiture in the massive securities fraud that still goes unmentioned though the source of this economic debacle, etc.). Four more banks closed by regulators, this years closures exceeding all of 2008 as depression continues John Letzing, MarketWatch April 24, 2009 SAN FRANCISCO (MarketWatch) -- Four banks in Georgia, Michigan, California and Idaho were closed by regulators Friday, costing the Federal Deposit Insurance Corp.'s deposit insurance fund nearly $700 million as the effects of the credit crisis continued rippling throughout the U.S. economy. Kennesaw, Ga.-based American Southern Bank marked the 26th bank failure of the year and the fifth in the state of Georgia, the FDIC said. Farmington Hills, Mich.-based Michigan Heritage Bank then became the 27th failure of 2009, followed by the closure of Calabasas, Ca.-based First Bank of Beverly Hills. Alpharetta, Ga.-based Bank of North Georgia has agreed to assume American Southern Bank's deposits, the FDIC said in a statement…

All reasons for previous reality plunge have been previously covered and warned of here in real time; ie., new meaningless FASB accounting standards which wall street frauds rallied on now have sold off on, worse to come in credit defaults/losses, leading indicators down again, etc.. April 17 (Bloomberg) -- David Tice, the chief portfolio strategist for bear markets at Federated Investors Inc., said the Standard & Poor’s 500 Index will probably plunge about 62 percent. He spoke during a Bloomberg Television interview today. The Federated Prudent Bear Fund that he founded returned 6.7 percent last year as the S&P 500 plunged 38 percent, the most since 1937. Tice said the benchmark index for U.S. stocks may slump to about 325. It closed today at 865.30. The measure has surged 28 percent since March 9, the most in five weeks since the 1930s. SUCKER'S RALLY APPROACHING AN END by Peter Cooper: Whatever the technical reason for the 25 percent rise in the S&P over the past five weeks, or a more modest eight percent bounce in GCC regional stock prices, the absurdness of this sucker’s rally ought to be obvious to all. Unemployment is still rising, house prices are still falling, and the fundamentals of bank balance sheets are still deteriorating with total bad debts unknown except that we know they must be getting worse. Global trade fell off a cliff in the first quarter of the year. Even Mercedes car sales to the oil rich of the GCC fell 23 per cent. The collapse of the world’s second largest economy, Japan, has been unprecedented.
Bad news coming … The stock market pattern in 2008-9 has so far been a mirror image of the crash of 1929-30 with a halving of prices from the autumn followed by a 25 per cent rally from March lows. In April 1930 stocks moved sideways and then they crashed another 50 per cent into the summer… New record continuing unemployment claims in excess of 6 million, -11% for new home sales (unexpected but stocks and even homebuilders rallied), Bloomberg reports $13 trillion (much unaccounted for) taxpayer/bailout funds spent/lent/stolen by who knows what/where/how (ie.,replace stolen funds?, etc.), second largest mall co. to bankruptcy with more to come along with more commercial real estate foreclosures. ‘…initial claims for the week ending April 11 totaled 610,000, which is down more than expected from the prior week, but continuing claims climbed more than expected to a new record of 6.02 million. Separately, housing starts disappointed investors hoping to find signs of a recovery in home building. Housing starts for March totaled 510,000, which was below the 540,000 starts that were expected and down from the prior month. Meanwhile, building permits in March totaled 513,000, which is below the 549,000 permits that were expected, down from February…’

SUCKER'S RALLY APPROACHING AN END by Peter Cooper: Whatever the technical reason for the 25 percent rise in the S&P over the past five weeks, or a more modest eight percent bounce in GCC regional stock prices, the absurdness of this sucker’s rally ought to be obvious to all. Unemployment is still rising, house prices are still falling, and the fundamentals of bank balance sheets are still deteriorating with total bad debts unknown except that we know they must be getting worse. Global trade fell off a cliff in the first quarter of the year. Even Mercedes car sales to the oil rich of the GCC fell 23 per cent. The collapse of the world’s second largest economy, Japan, has been unprecedented.
Bad news coming
… The stock market pattern in 2008-9 has so far been a mirror image of the crash of 1929-30 with a halving of prices from the autumn followed by a 25 per cent rally from March lows. In April 1930 stocks moved sideways and then they crashed another 50 per cent into the summer. What possible reason is there for optimism to believe that history will not repeat itself? Government stimulus packages have more than likely been too small and too late to prevent another down leg in stocks, and will take time to revive the real economy, if indeed they can do so. They might just stop the worst possible scenario but are they going to prevent the plunge downwards? Governments have not managed it so far.
Consumers and unemployment
…It will take more than weasel words from US bankers and ‘green shoots’ in the waffle of President Obama to put things right. Eventually global stock markets will reach a bottom but they are not close to having visited it just yet. Wall Street and its friends are playing investors as suckers but they are in danger of overdoing it. For once these guys are impoverished where will the next bunch of fools come from? Goldman Sachs' (GS) results this week might well mark the top of the rally, beyond that the only way is down.

Industrial production down –13%, most since WW2. The wall street frauds celebrate increase real estate sales…on increased foreclosures…riiiiight! U.S. foreclosure filings jump as moratoriums end US foreclosures up 24 percent in 1st quarter Jim Rogers Says Investors Should Expect More Bottoms Still not one prosecution as new churn and earn fraud/bubble begins with taxpayer bailout funds (old reliable foggy/sell the sizzle tech sector now the wall street frauds’ refuge-remember the dot com bust, etc.). BULL ST STORIES FOISTED AS B.S. TALKING POINTS FOR CONTINUING FRAUD/SPIKE IN STOCK PRICES FOR CHURN AND EARN COMMISSIONING: WELLS FARGO RECEIVED $25 BILLION TAXPAYER MONEY/BAILOUT FUNDS AND SHOWS (RECORD FOR THEM?) $3 BILLION QUARTERLY PROFIT- GOLDMAN RECEIVED $10 BILLION PLUS UNDISCLOSED FED/ ULTIMATELY TAXPAYER MONEY AND REPORTS QUARTERLY $1.8 BILLION PROFIT - MORGAN CHASE RECEIVED $25 BILLION AND REPORTS QUARTERLY $2+ BILLION PROFIT – CITI RECEIVED $25 BILLION AND REPORTS QUARTERLY $1 BILLION LOSS - BANK OF AMERICA RECEIVED $45 BILLION AND REPORTS QUARTERLY $3+ BILLION PROFIT AND SETS ASIDE $13 BILLION FOR LOAN LOSS RESERVES – MORGAN STANLEY RECEIVED $10 BILLION AND REPORTS QUARTERLY $1 BILLION LOSS - DO THE MATH (FIRST GRADE ELEMENTARY SCHOOL KIDS COULD DO AS WELL, AND FOR FAR LESS PAY) - AT THAT RATE, TAXPAYERS WILL SOON HAVE NOTHING LEFT FOR THEM TO TAX! WHAT FRAUDS! The Great Geithner Coverup WHAT TOTAL BULL ST! …[The upshot is that the fraud continues in churn-and-earn fashion with investors, taxpayer, etc., getting burned for the sake of wall street greed/fraud. The lunatic wall street frauds’ desperation linked to their substantial crimes and booty which must be disgorged through prosecution, especially since none of the real problems (hundreds of trillions of fraudulent/worthless securities, etc. - Analyst Andre Egleshion puts the amount at $600+trillion) have been addressed much less solved; hence, virtually all problems remain and there is but an infinitesimally small fraction of the capital and resources necessary to solve them thanks to fraud, incompetence, lack of knowledge/ability, greed, etc.]. U.S. Treasury asking banks keep quiet on stress tests New unemployment claims at high 654,000 praised as positive number… riiiiight! …as continuing unemployment claims at record 5.84 million (real numbers even worse). Economy so bad that consumers can’t buy goods so trade deficit shrank but this is a structural defect in u.s. economy so not good news and consistent with bad news of still plunging retail sector. Najarian points out that wall street always a circus, consolidation, robbing peter to pay paul, take profits; while economist cite Reich that we’re in depression and government as in land of fruits and nuts out of control. Earnings revised downward for first quarter –36.5%, more weakness, more unemployment, inflation to come on fast says Hogan, and insurance companies now que up at corporate welfare/taxpayer bailout lines. In positing (suckers’) bear market rally and advocating hold cash/sell stocks Hillary Kramer points to the preposterous on wall street where bad news greated as good vis-à-vis stocks (they call what wall street does ‘fraud’…in a rational world where they would already be in jail). Madman Cramer – the ultimate contrarian indicator - CRAMER'S CALL: ANOTHER RALLY TOP INDICATOR Greg Feirman Wow, the bulls are really feeling good. “Wells Fargo Carries The Day” and the S&P and Dow closed at 2 months high and the Nasdaq is near its highs for the year. On Mad Money this evening, Cramer went so far as to call “a turn in the economy”, saying “the facts have changed”, “the situation has clearly improved” and “things are getting better”. This isn’t the first time Cramer has called a bottom and he’s been wrong before (For example, see “Cramer Declares The End Of The Bear Market” , Top Gun FP, July 31, 2008). The market topped out a couple weeks later. On Monday October 6, Cramer went on the today show and told people to sell any stock money they might need in the next five years. The market bottomed that Friday. It could run another couple weeks but this rally is running thin. Methinks me smells a top….. Rational View Courtesy of ETF.COM: ‘…Due to our expectations of continued weakness in the financial sector, the looming deterioration of commercial real estate, the credit markets tepid backing of the equity rally, and the still very shaky and highly volatile global economy, it's our view at ETFdesk.com the recent run-up in stocks is unwarranted and presents an overly optimistic view of the months ahead. We believe investors should consider taking short term profits or use the recent run to reduce equity exposure they are weary of. We also believe investment grade debt (NYSEArca: LQD - News) represents an opportunity for investors seeking beaten down prices without the downside volatility of equities…

THE FOLLOWING AT LEAST TO PREVIOUS (7-6-09) IS MUST READ:

SELLER

April 17 (Bloomberg) -- David Tice, the chief portfolio strategist for bear markets at Federated Investors Inc., said the Standard & Poor’s 500 Index will probably plunge about 62 percent. He spoke during a Bloomberg Television interview today. The Federated Prudent Bear Fund that he founded returned 6.7 percent last year as the S&P 500 plunged 38 percent, the most since 1937. Tice said the benchmark index for U.S. stocks may slump to about 325. It closed today at 865.30. The measure has surged 28 percent since March 9, the most in five weeks since the 1930s.

Madman Cramer – the ultimate contrarian indicator - CRAMER'S CALL: ANOTHER RALLY TOP INDICATOR Greg Feirman Wow, the bulls are really feeling good. “Wells Fargo Carries The Day” and the S&P and Dow closed at 2 months high and the Nasdaq is near its highs for the year. On Mad Money this evening, Cramer went so far as to call “a turn in the economy”, saying “the facts have changed”, “the situation has clearly improved” and “things are getting better”. This isn’t the first time Cramer has called a bottom and he’s been wrong before (For example, see “Cramer Declares The End Of The Bear Market” , Top Gun FP, July 31, 2008). The market topped out a couple weeks later. On Monday October 6, Cramer went on the today show and told people to sell any stock money they might need in the next five years. The market bottomed that Friday. It could run another couple weeks but this rally is running thin. Methinks me smells a top…..

Rational View Courtesy of ETF.COM: ‘…Due to our expectations of continued weakness in the financial sector, the looming deterioration of commercial real estate, the credit markets tepid backing of the equity rally, and the still very shaky and highly volatile global economy, it's our view at ETFdesk.com the recent run-up in stocks is unwarranted and presents an overly optimistic view of the months ahead. We believe investors should consider taking short term profits or use the recent run to reduce equity exposure they are weary of. We also believe investment grade debt (NYSEArca: LQD - News) represents an opportunity for investors seeking beaten down prices without the downside volatility of equities…’

Art Hogan recently summed up choosing stocks in this environment thusly: ‘pick the best-looking horse at the glue factory’…..I think he was as a courtesy to his industry overly generous. The administration pitches hardballs to the auto industry while continuing to pitch powder puffs to the wall street frauds who have perpetrated the largest (securities) fraud in recorded history, turning a cyclical downturn into what is now unavoidably depression, putting beleagered taxpayers in the unfathomable position of funders/guarantors of the scam/fraud in bailing out the perpetrators of the crimes (bush’s infamous base) who have financially benefited enormously (fees, commissions, spreads, points, salaries, expenses, bonuses, etc.) from their fraud/crimes. Still not even one prosecution from this administration even though disgorgement, the legal remedy among other criminal penalties, would aid the defacto bankrupt u.s. treasury!
ON WHETHER BEN BERNANKE HAS REDEEMED HIMSELF AND WHAT THAT MEANS FOR STOCKS:

I do not think so. On the contrary, I think what the government is doing and its economic "dream team" under Mr. Bernanke and Mr. Geithner and Mr. Summers are going to be, from a longer term point of view, rather negative.
But, you understand, we can all sit here and say it will all end in disaster. That I'm sure. But, in the meantime, we can have big moves in markets.

On the new bad assets purchase plan:

I think he's doing the politically expedient thing from a very short term perspective. If you have cracks in your walls and just put paint on it, it will hide them and then you sell your house. But it won't solve the problems of the cracks - it's the next owner and these are the children of the current taxpayer who will pay for it. Marc Faber: 'It Will All End in Disaster'

China calls for new global currency (AP) Why Goldman Sachs Should Return Its TARP Money (at Seeking Alpha) Marc Faber: 'It Will All End in Disaster' Congresswoman presses Geithner on connections to Goldman Sachs Gerald Celente Predicts Economic Armageddon by 2012 Geithner Plan Will Rob US Taxpayers: Stiglitz

It bears repeating, so preposterous was 3-23-09 Pavlov dogs rally [conditioning to associate what’s good for fraudulent wall street, viz., privatizing profits – still not one prosecution for what now is the largest fraud/scam/swindle in the history of this planet – and socializing the losses, is somehow positive for america/the economy by the magnitude of this suckers’ bear market rally and prior market manipulations] when the same created the instant crisis in the first instance (don’t worry about the frauds on wall street, they’ll get their commissions again on the way down as they did in creating this financial debacle/fraud as they clamor for more taxpayer/treasury money). They’re still printing/creating those worthless Weimar dollars like mad, China Urges New Money Reserve to Replace Dollar ,don’t know what they’re doing, are clueless, and disingenuously seek to divert attention from the missing/stolen/bilked $14 trillion of taxpayer money with the subterfuge of outrage over the relatively miniscule though not unimportant million dollar bonuses (AIG, etc.), so-called fixes/plans, etc., so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! What the Pros Say: US Is Now ‘Bankrupt’ US is Already Bankrupt: Analyst U.S. Budget Office offers darker economic and deficit outlook The Geithner-Summers-Bernanke Plan to Prop Up Asset Prices Has Failed U.N. panel says world should ditch dollar

Fierman: How quickly things change…..
Some stats from today’s rally:
S&P: +54 (7.1%) to 823
Dow: +497 (+6.8%) to 7776
NYSE Up Volume: 1,866,836,012
NYSE Down Volume: 44,683,760
NYSE Total Volume: 1,914,836,622
It was just 2 weeks ago (March 9th) that the S&P closed at 12-year lows and the stock market felt like it was forecasting the end of the world. We’ve now rallied 22% in 2 weeks! But if we look at the catalysts for this rally, they really don’t seem to justify such an explosive move. Citi said they were profitable in the first two months of the year and JP Morgan (JPM) and Bank of America (BAC) said they were too. The Fed initiated some serious quantitative easing. And now Geithner’s toxic asset plan this morning. I agree with the Capital Spectator when he wrote this morning:

We’re skeptical largely because the rally this month has drawn power primarily from a new round of hope that Washington’s various experiments to right the economy will finally hit pay dirt. Perhaps, but it’s not the stuff that powers sustainable rallies, much less secular bull markets. We’re Sellers of This Rally!

Lawrence York

‘Treasury Secretary Geithner has released his plan to mop-up the toxic assets held by banks that threaten their solvency and the global financial system. Accordingly, the plan purposes that private equity firms partner with the Fed to purchase bank assets at some discount set by the private firms at auction. Then the Fed will leverage the purchase six-fold to buy more bank assets and assume all the risk of leverage. In other words, private firms will set the price and then put up half the initial purchase price. The Fed will then put up non-recourse loans to purchase six times more debt at the same price to be owned by the joint venture partners. If the deal works private equity splits the booty equally. If the deal fails, the government loses upwards to six times taxpayer's money and private equity loses only its original equity match equal to 1/6 the total loss.

Flabergasted? Don't be. How often can you cut a deal where you get to set the price and your partner puts in six times your money and you split the profit. IF THESE DEAL TERMS DON'T UNDERSCORE WHY THE GOVERNMENT SHOULD NOT HANDLE YOUR MONEY AND WHY THE GOVERNMENT SHOULD STAY OUT OF BUSINESS, WHAT DOES? Other deal terms are that the Fed will designate the private equity players, at least initially. Could it be that the Fed is creating another pass-through mechanism to simultaneously bail out or reward its friends? If so, look for Goldman Sachs (GS), Merrill, Blackstone (BX), Carlye Group, Texas Pacific Group, and perhaps Bear Stearns to be players. Look also for the typical MOS of some Structured Investment Vehicle, not much different from the Maiden Lane III SIV, to backstop or divert money where it needs to be--by gratuitous selection that is. Oh, and never mind that Private Equity may be joined by the Libyan Investment Authority (LIA and Private Equity article by Financial Times) as Private Equity at present is having a bit of a liquidity crunch with their own deflated, illiquid assets. In short, the Geithner Toxic Asset Plan is just another bank bailout and footnote to this era of 'Dark Capitalism" where profits are reaped and losses socialized in an ever transparent way.’

Trevisani: ’…The beginning of quantitative easing calls all three ideas in question; it increases the supply of dollars effectively lowering US interest rates well below Europe’s; the need for such an unprecedented step undermines the hope for a US recovery; and a devaluing dollar cannot be a safe haven. Add the projected Federal deficits and the dollar begins to look very vulnerable. If the Europeans go down the same quantitative road then the dollar’s disabilities may be matched by the euro’s. But if they are not, then the Bernanke dollar call may not be an option to buy but a call to sell…’ China and most of the financial world outside the u.s. agrees with the latter. China Urges New Money Reserve to Replace Dollar Kremlin to Pitch New Currency...

EMBRACE THE BEAR By Rev Shark There is an old saying that in a bear market, we slide down the slope of hope. Unfortunately, we have seen plenty of good examples of how that works over the past year. We have had dozens of new initiatives to try to bolster the economy that create hope for a few days. The market will get excited and we'll have some big point gains, but then doubts begin to surface about how easily it will be to turn this economic supertanker that is going over a waterfall. The buying stalls out, a few dip-buying attempts are made, but eventually we break support levels and more downside ensues. That is classic bear market action but the standard Wall Street reaction is to not accept it…[The upshot is that the fraud continues in churn-and-earn fashion with investors, taxpayer, etc., getting burned for the sake of wall street greed/fraud. The lunatic wall street frauds’ desperation linked to their substantial crimes and booty which must be disgorged through prosecution, especially since none of the real problems (hundreds of trillions of fraudulent/worthless securities, etc.) have been addressed much less solved; hence, virtually all problems remain and there is but an infinitesimally small fraction of the capital and resources necessary to solve them thanks to fraud, incompetence, lack of knowledge/ability, greed, etc. - Analyst Andre Egleshion puts the amount at $600+trillion] …INVESTORS …..FOOLED (at least today) By Rev Shark …..realization that economic stimulus isn't going to be nearly as simple or easy (or effective) as it sounds. We aren't going to spend our way out of this economic spiral …We'd probably be better off if the government did less rather than more. The great likelihood is that the unintended consequences we suffer will prolong the whole cycle. We have to let some bad businesses and financial institutions fail…

HERE’S THE REAL DEAL:
SUMMARY/RECAP OF LORIMER WILSON 3-17-09 ANALYSES/REVIEW
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

Russell Napier is the author of the book “Anatomy of the Bear”, a professor at the Edinburgh Business School and a consultant to CLSA Ltd. which is one of the top research houses in Asia. Napier’s research indicates (and I paraphrase) that:
The S&P 500 will Decline to 400 by 2014 (the Dow 30 to 3800)
The S&P 500 will then undergo a major crash that will see U.S. equity prices bottom at almost 50% below current levels (i.e. to 400 or less; the Dow 30 to 3800 or less) sometime around 2014 as Tobin’s “q” drops to 0.3 signaling the end of the bear market, as it has done at the end of the four largest U.S. market declines in 1921, 1932, 1949 and 1982.
U.S. Treasury Sales Could Collapse Leading to End of U.S. Dollar as Reserve Currency

Robert R. Prechter Jr. is author of a number of newsletters and books including “Elliott Wave Principle” (1978) in which he predicted the super bull market of the 1980s; “At the Crest of the Tidal Wave – A Forecast of the Great Bear Market” (1995) in which he predicted a slow motion economic earthquake, brought about by a great asset mania, that would register 11 on the financial Richter scale causing a collapse of historic proportions; and “Conquer the Crash: You can Survive and Prosper in a Deflationary Depression” (2002) in which he described the economic cataclysm that we are just beginning to experience and advised how to position one’s self financially during that period of time.
Depression is Imminent
The Dow Jones Industrial Average will go down to at least 1000, most likely to below 777 which was the starting point of its mania back in August 1982, and quite likely drop below 400 at one or more times during the bear market.

Regulator: Before Banks Collapsed, They Pleaded With Feds To Let Them Fudge Their Books Ryan Grim | Before financial institutions collapsed, they went to the Financial Accounting Standards Board, pleading for a change in mark-to-market accounting rules so that they can continue to appear to be solvent on their balance sheets and hence, continue to defraud the public as they are now once again trying to do. This says it all! Will FASB remain viable by resisting fudge/fraud factor. Suckers’ bear market rally ( Citigroup Inspired Bear Market Suckers’ Rally ) to keep the suckers suckered and commission dollars flowing to the frauds on wall street

Why we think this is a (suckers’) bear market rally:

Citing 13 reasons that the bear will continue in spite of this rally seems appropriate.

1. Current P/E: the current 20+ P/E on trailing “as reported earnings” is too high for this set of negative sales, earnings and dividends growth conditions.

2. Forward P/E: the projected 2010 S&P 500 earnings by Standard and Poor’s at about $40 would only support 800 at best (20 P/E), and more likely would support 600 (15 P/E), assuming there was a general recovery under way — before that time, the current market should sell for less than 800, and perhaps less than 600.

3. Earnings: profits are still declining in the aggregate

4. Dividend Yield: banks and other companies continue to cut dividends, reducing stock appeal and putting total return in question until dividends stabilize and begin to grow (historically dividends generated about 1/3 of total return for the S&P 500)

5. Revenue: overall sales are down — declining sales, earnings and dividends are not reasons for bullish markets.

6. World GDP Growth: credible parties (Goldman Sachs, IMF, and noteworthy individuals, such as Nouriel Roubini, predict worsening global economies) — until forecasts for improvements within 12 months or less for the US or world economies become prevalent, the market is unlikely to “anticipate” with a sustainable trend reversal to a bull

7. Government Intervention: the US and global economies are currently highly government policy dependent, and while policies are becoming more clear, they are not all revealed, and there are suggestions more may be needed — the resulting uncertainty warrants low valuation until government policies to “save” and “stimulate” economies are no longer the centerpiece of investor hopes and earnings prospects

8. Real Estate: the US and global real estate asset deflation continues with waves of negative impact on household and institutional wealth — until property prices stabilize, or are believed to be about to stabilize, a new bull market will have difficulty gaining traction.

9. Other Bank Shoes to Drop: the major banks have not yet experienced likely future write-downs associated with non-mortgage asset types, such as credit cards and auto loans.

10. Auto Industry: the fate of GM, Chrysler and the entire supply chain is uncertain with unknown government involvement.

11. LBOs: private equity firms built on leverage may not be able to continue to service and rollover the debt they used to make recent optimistic acquisitions — those debts could be a further burden on the financial sector.

12. Retirees and Pre-Retirees: the 55 and over crowd who control the largest portion of US private assets are not as likely to risk their life accumulations in stocks relative to bonds as they were in the boom times of the last couple of decades — that will delay the onset of a bull and subdue the extent of a bull when it occurs

13. Credit Availability: the credit and leverage availability that helped the US stock market recover from the 2002-2003 bottom is not available at this time to increase household expenditures and corporate capital investment — even the US government may be put on credit rationing by China, which today said it is “worried” about the credit quality of their US Treasury holdings, which has implications about their willingness to support the borrowing our “stimulus” programs require and assume to be available. By Richard Shaw

Analyst Andre Egleshion points to continuing effect of credit default swaps and pegs the amount of the worthless, fraudulent (previously sold, commissioned, repackaged, resold, re-commissioned, etc.) securities at $600-$675 TRILLION, their continued effect on money pit AIG, that fed’s received $11.7 trillion since 2008 yet refuses transparency as to where funds spent, who received same, etc., agrees with comment that shockingly no prosecutions yet, economy re-tooling, need for stiffer regulation, points to historical fact that fiat currencies and private central banks have consistently failed, sees hyperinflation with dollar weakness (printed/created like mad) and higher oil. Hopes for funny assets [in addition to funny money, other fraud, relaxation of rules/laws/enforcement (real asset values) (remember the exemption from RICO garnered by fraudulent wall street-those campaign contributions really pay off, etc.) ], spur suckers’ bear market short-covering rally to keep the suckers suckered and commission dollars flowing to the frauds on wall street so SELL/SELL INTO RALLIES/STRENGTH/ TAKE PROFITS WHILE YOU STILL CAN SINCE MUCH, MUCH WORSE TO COME! NOW LISTEN HERE, FOR THIS IS TRUTH!: There is not enough money in the entire world to cover the fraudulent securities foisted/commissioned/ distributed/sold by the wall street frauds/perpetrators which if assumed/guaranteed by the u.s. government (don’t forget that social security/medicare are already technically insolvent/bankrupt - all monies/reserves going into the general account and already and continually spent) will only guaranty the insolvency of / worthlessness of the currency of the u.s. treasury. Cost to buy protection against U.S. government default surges Frank just said that he wants to prosecute those who’ve caused this crisis…waxman was supposedly doing just that in part (fog of war fraud-360 tons of $100 dollar bills stolen), etc…. If they don’t do this as said, among others, they should be forced resign as complicit. THERE IS NO MYSTERY HERE; HENCE, NONE SHOULD BE AFRAID TO LOOK, PROSECUTE, AND FORCE DISGORGEMENT! Celente: U.S. Has Entered “The Greatest Depression” …‘… Watch for fake reports and continued jawboning/spin/b.s. regarding bailout/stimulus as they are desperate yet remain protective of the criminals who caused the crisis with their fraud in staggering amounts far beyond the substantial scam by madoff ($50 billion) who now audaciously from his $7 million NYC penthouse seeks ownership of same along with $62 million (only in systemically fraudulent america). Why are they not seeking disgorgement from the criminals who benefited from the huge multi-trillion dollar fraud they perpetrated? No one yet has asked tiny tim geithner where the missing $4 trillion at the fed is…Why? Then there’s the $2 trillion in taxpayer money, the destination of which the fed refuses disclosure of…Fed Hides Destination Of $2 Trillion In Bailout Money …Why? How? This is criminal activity of monumental proportion, yet protected by the bureaucratic complicit frauds (I’ve experienced this directly in my RICO case), damaging lives here and abroad. Then there’s also the illegal wars, war-profiteering, war crimes, etc., that have bankrupted this nation, killed many innocents, etc., [remember, ie., the 360 tons of hundred dollar bills flown into Iraq that democrats/land of fruits and nuts henry waxman (doesn’t he look like a hedgehog or some other rodent) the lying fraud talked endlessly about while republicans were at the helm, yet nothing…no prosecutions…the frauds who stole that money should put same in the failed ‘stimulus fraud pot’…at the least, etc.]. An analyst previously said 2011-2014 earliest for bottoming at best. Another analyst previously pointed out there has been not one prosecution thus far and the frauds on wall street should be prosecuted and forced disgorgement. …[The upshot is that the fraud continues in churn-and-earn fashion with investors, taxpayer, etc., getting burned for the sake of wall street greed/fraud. The lunatic wall street frauds’ desperation linked to their substantial crimes and booty which must be disgorged through prosecution, especially since none of the real problems (hundreds of trillions of fraudulent/worthless securities, etc. - Analyst Andre Egleshion puts the amount at $600+trillion) have been addressed much less solved; hence, virtually all problems remain and there is but an infinitesimally small fraction of the capital and resources necessary to solve them thanks to fraud, incompetence, lack of knowledge/ability, greed, etc.]. Analyst Frank Cochrane looks ahead to 4,000 to 6,000 on the DOW, 700 to 900 on the NASDAQ, and 425 to 625 on the S&P, and says spending/stimulus programs will not work, a point on which he is correct and the low end of his ranges closer to reality. Not Just a Few Bad Apples - Corruption is Systemic in America In case you believe that there are only “a couple of bad apples” in the United States, here is an off-the-top-of-his-head (I could give many, many more including my RICO case) list of corruption by leading pillars of american society.

HOW MANY TIMES CAN THE WALL STREET FRAUDS, WITH CYCLICAL REGULARITY, DO THE SAME OR SIMILAR FRAUD WITH IMPUNITY (STILL NOT ONE PROSECUTION IN THE MOST RECENT MASSIVE SECURITIES FRAUD, BUT PLENTY OF OBFUSCATION EMANATING FROM THE PERPETRATORS AS WELL AS THOSE WHO SHOULD BE PROSECUTING /PURSUING THEM) NOW REFLATING THE STOCK MARKET BUBBLE BASED UPON NOTHING AT ALL (BAD NEWS,FRAUD AND BULL S**T), CHANGING ACCOUNTING RULES TO FACILITATE THE COMMISSIONABLE BUBBLE FROM WHICH THE SOURCE OF FUNDS TO EVEN PAY BACK LOANS TO AVOID SCRUTINY OF THEIR NEW FRAUD IS GENERATED [SAVINGS AND LOAN DEBACLE, DOT.COM SELL THE SIZZLE BUST /DEBACLE, RECYCLED /REPACKAGED /RESOLD /RECOMMISSIONED WORTHLESS COLLATERALIZED SECURITIES /PAPER (IN THE TRILLIONS YET STILL NOT ADDRESSED), ETC., THE FRAUDS ARE GETTING LARGER, HENCE THE RIDICULOUS TOO BIG TO FAIL MANTRA … HOW PATHETIC! … THAT MONEY HAS TO COME FROM SOMEPLACE, IE., PRINTING, CREATING, YOUR POCKETS, … NOT OUT OF THIN AIR! ]

PREVIOUS 7-6,2-09, PREPOSTEROUS WAS THIS SURGE IN THE LAST 20 MINUTES INTO THE CLOSE FOR SECULAR BEAR MARKET SUCKERS’ RALLY PROGRAMMED TO KEEP SUCKERS SUCKERED [ Insiders Exit Shares at the Fastest Pace in Two Years ] AND COMMISSION DOLLARS FLOWING [ Goldman Sachs on pace for record bonuses: report (Reuters) [$$] Big Pay Packages Return to Wall Street as new fraud gains steam (at The Wall Street Journal Online) ] BASED ON CONTINUED BAD NEWS ( ie., BUFFET: ECONOMY IN 'SHAMBLES'; NO SIGNS OF RECOVERY... America’s Effective Unemployment Rate at 18.7%? US loses 467,000 jobs, unemployment at 9.5% 'We're in the Middle of a Crash': Black Swan... (7-2)Seven more banks fail, bringing 2009 tally to more than double all of 2008 at a total thus far of 52; Private sector sheds another 473,000 jobs in June... US lurching towards ‘debt explosion’ with long-term interest rates on course to double Jim Rogers Sells Dollars, Plans to Short Treasuries ‘Sucker’s Rally Beginning To Unwind’ daaaah…? Calls grow to supplant dollar as global currency China officials call for displacing dollar, in time Tracking Two Depressions, 1929 and now this HOW MANY TIMES CAN THE WALL STREET FRAUDS, WITH CYCLICAL REGULARITY, DO THE SAME OR SIMILAR FRAUD WITH IMPUNITY (STILL NOT ONE PROSECUTION IN THE MOST RECENT MASSIVE SECURITIES FRAUD, BUT PLENTY OF OBFUSCATION EMANATING FROM THE PERPETRATORS AS WELL AS THOSE WHO SHOULD BE PROSECUTING /PURSUING THEM) NOW REFLATING THE STOCK MARKET BUBBLE BASED UPON NOTHING AT ALL (BAD NEWS,FRAUD AND BULL S**T), CHANGING ACCOUNTING RULES TO FACILITATE THE COMMISSIONABLE BUBBLE FROM WHICH THE SOURCE OF FUNDS TO EVEN PAY BACK LOANS TO AVOID SCRUTINY OF THEIR NEW FRAUD IS GENERATED [SAVINGS AND LOA

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(1-7-08) With sloth-like reflexes and speed the lazy, fallible frauds on wall street now recognize, yes we’re already in a recession. Forget Bulls/Bears. Their new mascot:
The Prehistoric Sloth. Sloths all, the lunatic/frauds on wall street are slothish on america.

Recession in the US 'has arrived': Merrill Lynch

trump’s fired

SELLER

Lawrence York

(1-7-08) With sloth-like reflexes and speed the lazy, fallible frauds on wall street now recognize, yes we’re already in a recession. Forget Bulls/Bears. Their new mascot: The Prehistoric Sloth. Sloths all, the lunatic/frauds on wall street are slothish on america.

SELLER

Lawrence York

(1-7-08) With sloth-like reflexes and speed the lazy, fallible frauds on wall street now recognize, yes we’re already in a recession. Forget Bulls/Bears. Their new mascot:
The Prehistoric Sloth. Sloths all, the lunatic/frauds on wall street are slothish on america.