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Full Moons, Fraud, and Lunatics. What More Can Be Said.Current Market Numbers/Closing Prices From Yahoo
(1-16-08) Economist Dr. Irving Kellner…..already in recession, monetary policy (rate cuts, etc.) will not help in such a scenario, collateralized mortgage securities have become worthless so write-downs, no bottom until housing/real estate falls further, consumer saving rates low, debt levels high, worse to come…..Economist Lawrence Summers says recession could be long and severe…..bankruptcies up 40%, industrial production flat, inflation up and much higher than reported DEFAULTS UP, Housing down, inflation up, consumer confidence down SHARPLY, TRADE DEFICIT NEAR RECORD AND ABOVE EXPECTATIONS, RETAIL SALES DOWN AND FAR BELOW EXPECTATIONS, ALREADY IN RECESSION DESPITE JAWBONING (BULL S**T) TO THE CONTRARY, fake economic reports/data, more bull s**t/spin, dollar to fall even further with fed panic, as stocks drop modestly relative to reality (DOW -34, NASDAQ –23, S&P -7). REALITY: THIS IS A BEAR MARKET IN A SECULAR BEAR MARKET IN A RECESSIVE ECONOMY IN A SECULAR (AND QUITE PERMANENT-THEY’VE MADE ALL THE WRONG CHOICES) ECONOMIC DOWNTREND IN THE U.S. ONE ANALYST/REPORTER/JOURNALIST FROM INSIDE SOURCES PEGS THE SUB-PRIME DOLLAR VALUE OF THE SHILLED WORTHLESS PAPER AT $516 TRILLION (EVEN A PERCENTAGE OF SAME RENDERS THE PROBLEM UNFIXABLE-HENCE, CULPABLE PARTIES MUST BE HELD ACCOUNTABLE AND DISGORGE THEIR ILL-GOTTEN GAINS FROM, IE., COMMISSIONING WORTHLESS PAPER, TAKING A POINT HERE OR THERE AND FRAUDULENTLY PASSING SAME ON, AD INFINITUM, ETC.). Time to put the wall street among other corporate frauds in jail and require fines, penalties and disgorgement of their ill-gotten gains.(1-15-08) weaker than expected retail sales report for December, Wholesale Prices Up 6.3% in '07- Largest amount in 26 years,Dollar hits record low vs Swiss franc ,Survey: Asia, Europe Has World's Freest Economies,Citigroup raises a whopping diluting $14.5 billion, cuts dividend, announces layoffs, $18 billion in write-downs and more to follow as subprime losses mount DEFAULTS UP, Housing down, inflation up, consumer confidence down SHARPLY, TRADE DEFICIT NEAR RECORD AND ABOVE EXPECTATIONS, RETAIL SALES DOWN AND FAR BELOW EXPECTATIONS, ALREADY IN RECESSION DESPITE JAWBONING (BULL S**T) TO THE CONTRARY, as stocks drop modestly relative to reality (DOW -277, NASDAQ –60, S&P -35). REALITY: THIS IS A BEAR MARKET IN A SECULAR BEAR MARKET IN A RECESSIVE ECONOMY IN A SECULAR (AND QUITE PERMANENT-THEY’VE MADE ALL THE WRONG CHOICES) ECONOMIC DOWNTREND IN THE U.S. Time to put the wall street among other corporate frauds in jail and require fines, penalties and disgorgement of their ill-gotten gains.(1-14-08) OIL PRICE RALLY RALLIES STOCKS, DOLLAR DOWN SHARPLY CONSISTENT WITH FED PANIC, COMMODITIES/GOLD UP SHARPLY/RECORDS, STAGFLATION, IBM SO EXCITED THEY PREMATURELY JAWBONE STOCKS HIGHER WITH THE RHETORIC THAT HAPPY DAYS ARE HERE AGAIN…..RIIIIIGHT!, DEFAULTS UP, Housing down, inflation up, consumer confidence down SHARPLY, TRADE DEFICIT NEAR RECORD AND ABOVE EXPECTATIONS, RETAIL SALES DOWN AND FAR BELOW EXPECTATIONS, ALREADY IN RECESSION DESPITE JAWBONING (BULL S**T) TO THE CONTRARY, lunatics’/suckers’ bear market rally/dead dog bounce (DOW +171, NASDAQ +38, S&P +15) REALITY: THIS IS A BEAR MARKET IN A SECULAR BEAR MARKET IN A RECESSIVE ECONOMY IN A SECULAR (AND QUITE PERMANENT-THEY’VE MADE ALL THE WRONG CHOICES) ECONOMIC DOWNTREND IN THE U.S. Time to put the wall street among other corporate frauds in jail and require fines, penalties and disgorgement of their ill-gotten gains. (1-11-08) DEFAULTS UP, Housing down, inflation up, consumer confidence down SHARPLY, TRADE DEFICIT NEAR RECORD AND ABOVE EXPECTATIONS, RETAIL SALES DOWN AND FAR BELOW EXPECTATIONS, ALREADY IN RECESSION DESPITE JAWBONING (BULL S**T) TO THE CONTRARY, STAGFLATION, dollar down as stocks drop modestly relative to reality (DOW -247, NASDAQ –49, S&P -19). Nothing has fundamentally changed regarding the descent and decline of criminal/fraud banana republic america and the already bad news is worse than acknowledged. Watch for the fake economic reports/data, more bull s**t/spin, ie., insiders not selling-real reason is their fear of fraud prosecutions (they’ve known for quite some time that the business/economic scenario is much worse than purported/reported and have” made their hay” already predicated on same with many multimillion dollar pay packages for which disgorgement is appropriate), etc. Time to put the wall street among other corporate frauds in jail and require fines, penalties and disgorgement of their ill-gotten gains. (1-10-08) Good money after bad is the mantra on wall street as BofA with $2 billion already in Countrywide says they’ll shoot-the-moon, take the whole ball of wax, eat the whole thing, keep the fraud ball rolling/covered, etc., which rallies stocks based on bull s**t alone, notably that of fed head bernanke who jawbones (bull s**ts) stocks higher with promised rate cuts, even weaker dollar, and even higher hyperinflation thereby. Retail sales down and far below expectations, already in recession despite jawboning (bull s**t) to the contrary, stagflation. Citibank and Merrill Lynch desperately seek to sell more of themselves to foreign interests to cover substantial losses/fraud. Merrill Lynch to write down another $15 billion and more to come. American Express to write off more than $440 million in bad credit card debt. One respected analyst/fund manager says we’re in a bear market having broken through all resistence levels. Lunatics’/suckers’ bear market rally/dead dog bounce into the close (dow +117, nasdaq +13, s&p +11) to keep the suckers suckered and computerized commission trade dollars flowing. Time to put the wall street frauds in jail and require fines, penalties and disgorgement of their illgotten gains. (1-9-08) Happy days are here again (REALITY SAYS NOT) say the frauds on wall street with new bull s**t talking point that the newly (not really, just covered up to perpetuate the fraud) discovered fact that we’re already in recession and that means rate cuts to make the dollar even more worthless and the hyperinflation even more hyper, and that the now conceded reality of recession will be short-lived. How about reality that the same marks the (continuation)beginning of a downturn from which there will be no coming back for criminal/fraud america. Economic 9/11 Just as the Twin Towers collapsed from the top
down, so too will the US economy from an Economic 9/11, when the high-stake
speculators, banks, brokerages, and buyout firms that leveraged billions with
millions get hit with reality. The Panic
of 08 Failing banks, busted brokerages,
toppled corporate giants, bankrupt cities, states in default, foreign creditors
cashing out of US securities … whatever the spark, the stage is set for panic
in the streets. America’s broke and the whole world knows it. As america’s
economy spirals down and that the dollar will fall with it, foreign creditors
are dumping dollars on the market … and even Third World street vendors don’t
want to take greenbacks any longer. The further it falls, the less it’s worth.
The less it’s worth, the less it buys. In the real world they call it
"inflation." In america they call it "good for business." http://www.trendsresearch.com Time to put the wall street frauds in jail and
require fines, penalties and disgorgement of their illgotten gains. Lunatics’/suckers’ bear
market rally/dead dog bounce into the close (DOW +146, NASDAQ +34, S&P +18)
to keep the suckers suckered and computerized commission trade dollars flowing.
(1-8-08) Housing down, inflation up, consumer confidence down, oil prices up,
dollar down as stocks drop modestly relative to reality (DOW -238, NASDAQ –58,
S&P -25). Nothing has fundamentally changed regarding the descent and
decline of criminal/fraud america and the already bad news is worse than
acknowledged. $14 billion ($21 billion in 2006) in bonuses to the
lunatic/frauds on wall street for a commissionable (sub prime bundled) fraud
well done, inflation up, dollar down, oil prices up, manufacturing down; one
analyst/reporter/journalist from inside sources pegs the sub-prime dollar value
of the shilled worthless paper at $516 TRILLION (even a percentage of same renders
the problem unfixable-hence, culpable parties must be held accountable and
disgorge their ill-gotten gains from, ie., commissioning worthless paper,
taking a point here or there and fraudulently passing same on, ad infinitum,
etc.). (1-7-08) With sloth-like
reflexes and speed the fallible frauds on wall street now recognize, yes we’re
already in a recession, with new bull s**t talking point, that’s good for some
stocks - NOT says reality- as lunatics’/suckers’ bear market rally/dead dog
bounce into the close (DOW +27, NASDAQ –5, S&P +4) to keep the suckers
suckered and computerized commission trade dollars flowing. Despite severe
inflation (the fed excludes food and energy from their
fake/worthless/meaningless calculation, because it’s allegedly cyclical…..riiiiight!
And everything else is imported cheap for the purpose of increasing the deficit
and eliminating u.s. jobs) the frauds are hoping for more fake gov’t reports,
rate cuts to make the dollar even more worthless and inflation greater, etc., and
hope they’ll escape accountability for their fraud ($14 billion in bonuses,$21
billion in 2006, on top of huge salaries, etc.). (1-4-08) Small dose of reality
as unemployment rises to 5% and stocks drop modestly relative to reality (DOW
-256, NASDAQ –98, S&P -35). Nothing has fundamentally changed regarding the
descent and decline of criminal/fraud america and the already bad news is worse
than acknowledged. (1-3-08) Despite
economists expectations of fewer new jobs, ADP, a jersey based company not
unfamiliar to the fraud/crime of placing fake/non-existent employees on
payrolls to facilitate (illegal/drug) money laundering plays ball (I’m sure for
a price/favor) with the frauds on wall street with a figure in excess of same
(40,000) with the labor department also chiming in with fake data; durables
down, auto sales down (Ford now #3); bull s**t talking points for lunatics’/suckers’ bear market rally/dead
dog bounce into the close (DOW +13, NASDAQ –6, S&P +0) to keep the suckers
suckered and computerized commission trade dollars flowing. (1-2-08)Modest drop
relative to reality on wall street, as DOW drops 221, S&P down 21 and
NASDAQ down 42. $14 billion ($21 billion in 2006) in bonuses to the
lunatic/frauds on wall street for a commissionable (sub prime bundled) fraud
well done, inflation up, dollar down, oil prices up, manufacturing down; one
analyst/reporter/journalist from inside sources pegs the sub-prime dollar value
of the shilled worthless paper at $516 TRILLION (even a percentage of same
renders the problem unfixable-hence, culpable parties must be held accountable
and disgorge their ill-gotten gains from, ie., commissioning worthless paper,
taking a point here or there and fraudulently passing same on, ad infinitum,
etc.). manufacturing index up slightly to 51.4
(they must be counting hamburgers as manufactured goods in u.s......riiiiight!)
but fed knows they’ve been printing worthless dollars like mad which of course
is hyperinflationary and will come home to roost, along with huge
debt/deficits, trade and budget, Stores
Report Disappointing Dec. Sales, Gap
Woes Deepen in Bleak Holiday Season. Ford and GM auto sales down 13%. More reports in defiance of reality, oil prices up, Dollar
Slides..., every intelligent analyst/economist knows that the
new home sales number from the government is a total lie that will be revised
downward later, that the options scandals are pervasive in fraudulent america
(100 investigations just tip of the iceberg), oil stocks continue to rally on
lower oil prices, as previously on pipeline explosion in Nigeria, spill in Gulf,
and sanctions for Iran, and sharp FALL in oil prices.....riiiiight!.....predictions
of disappointing retail sales even with fire-sale discounted prices,..... Highest
increase (2%) in 30 years for the wholesale price index, and as well, the core
ppi (1.3%), GDP growth less than expected at 2%, dollar sharply lower, oil prices up, building permits down, all
unexpectedly bad but great news in the fraudulent alice-in-wonderland
lunatic world of wall street. New Record Quarterly Trade Deficit initially spurred lunatic market rally
along with obfuscating but very commissionable merger activity.
Core inflation a very
unexpected unchanged .....riiiiight!.....spurs superstitious, devoid of
reality, santa rally. Investment
Banks Post Record 2006 Profit .....daaaaah! Churning and earning on
worthless paper, where is that commission dollar coming from even as america
has ceded solvency/leadership in every economic measure. Even at the lofty
record numbers the indices are worth roughly half their value based on
precipitous fall of the dollar in only 5 years with further downside to go.
Superstitious ‘Santa Claus rally’.....riiiiight! High oil price
rally.....riiiiight! Total bulls**t ! Retail sales up a very unexpected
1%, riiiiight, at the same time inventories of such goods rising substantially
(do you think they’re booking sales to ‘straw men/companies’.....I do!) and oil
inventories down. Fake employment numbers (from the government.....riiiiight!)
the impetus for previous b.s. rally despite falling sentiment and uptick in
unemployment. The ism services index (financed by unsustainable deficit/debt spending
and pushing/commissioning worthless paper) and jawboning/bulls**t from the
housing industry (the end is near.....riiiiight!), obfuscating mergers
continued to cloud the picture, closely-watched core-PCE deflator had risen a
more than expected 0.2%, second sub-50 reading on manufacturing activity in as
many sessions-the November ISM index unexpectedly fell to 49.5 (consensus
52.0), Chicago PMI fell to its lowest level (49.9%) in October, and below the
50 level, indicating contraction, crude prices up (OIL
PRICES RISE ABOVE $63 A BARREL...), DOLLAR
RESUMES SLIDE, Fed Chairman Bernanke &
Co. cheerleading/jawboning/bulls**t, 3.2% decline in new home sales, oil
inventories down and oil prices up, oil
producers shun the dollar, Russia and Opec shift revenues into euros, yen and
sterling..., all very bad news anywhere but in the fraudulent alice-in-wonderland world of wall street. Durable
goods orders fell sharply, sentiment down, but supposedly used home sales rose
slightly (riiiiight.....who says; the
realtors/government who have been talking up this bubble market?) albeit at
sharply lower prices. DOLLAR
PLUNGES TO NEAR 15-YEAR LOW In other
words, no good news to justify the ridiculous up move by the alice-in-wonderland
frauds of wall street. Worthless dollar, triple
deficits, stock/options scandals/corruption, as some speculate that fed is
behind purchases/manipulation (through proxy) of
worthless american paper now being shunned by more
rational market players abroad. MARKETS
ROCKED BY LONG OVERDUE BUT STILL MODEST RELATIVE TO REALITY SHARP SLIDE IN
DOLLAR...There has never been a time since 1929 when stock prices and p/e
ratios were so irrationally high for this point in a bull cycle in this
indisputable secular bear market, particularly with the existing unprecedented
structural economic problems, ie., trade and budget
deficits, worthless dollar, scandals, fraud, corruption , etc.. In fact,
unemployment unexpectedly rose substantially and consumer sentiment
unexpectedly but similarly realistically fell, both very negative exept in the fraudulent alice-in-wonderland
world of wall street. Indeed, the housing bubble bursting with ie., unexpected 14% decline in
starts/permits, etc., led to rally in the fraudulent alice-in-wonderland
world of wall street. Obfuscating mergers help preclude detection of this
massive and pervasive fraud which defies analysis owing to these mergers. New
talking pointing: dell numbers exceed expectations depending upon ongoing
government scrutiny of their accounting practices.....riiiiight!
More contrived manipulated markets and data well as that previous unexpected
rise in that global hub of manufacturing activity, New York (worthless paper is
their real product, etc.) …..riiiiight!….. underpins fraudulent up move. Reassuring Fed speak, also
known as b**l s**t, along with IPO’s (get the suckers
in at the highs as in late 90’s market bubble), and shrugging off pervasive
stock/options fraud as at, ie., KB Homes, etc., leave stocks ridiculously higher. Nations leaving the
worthless dollar in droves for currencies backed by value and for precious
metals. Based on the self-interested statement of typical fraud american and fed rep, we hear once again the wishful thought
that housing has bottomed.....right! [Reality/Truth:
US housing slump deepens,
spreads]. Home depot rallies despite lower than expected results and lower
guidance for the year.....right! Who is stupid enough to believe anything the
fraudulent criminal americans say. They are printing
worthless dollars like mad. Consumer sentiment actually previously fell and
there was nothing but wall street lunacy to prop the
fraudulent market. The republicans who lockstepped
with war criminal dumbya bush deserved to lose. The
frauds on wall street now looking for the new corporate welfare program for
which to sell the sizzle ie., stem cells, etc.. The
know-nothing pundits are now saying the up move without any rational basis is
predicated upon the the falsity that gridlock in washington is welcomed and good because no regulation of, ie., fraud on wall street, etc., can be passed. How about a
tax on stock trades to come directly from the traders' (traitors/frauds) bottom
lines and provide a disincentive for the churn-and-earn fraud which is
tantamount to a wasteful tax on the economy. Even token Christian paulison from jew fraud wall
street couldn't stem the tide against the blatent zionist/neocon/bush co failure accross
the board as the wall street frauds show record profits financed, albeit
indirectly, by huge deficits, both trade and budget. Obfuscating mergers blur
the picture to provide cover for up move talking points in defiance of reality. Stagflation and full employment revisions pre-election.....riiiiight.
Productivity comes in at a less than expected 0 (inflationary). The only
surprise should have been that the number wasn't negative. The pundits are now
saying that the market/wall street fraud is in a state of denial regarding
economic fundamentals and that the market is substantially overbought,
overvalued, overfrauded, over, etc., the manufacturing index coming in lower than expectations.
Consumer sentiment unexpectedly fell.....daaaaah. Pre-election core inflation rate report good …..riiiiight…..but savings rate still
negative and walmart
sales/profits/outlook substantially below expectations but what the heck,
they’re wallstreet
lunatics/frauds and reality is no problem. Despite pre-election deficit
spending, GNP comes in a less than expected paltry 1.6% increase with worthless
falling dollar the catch-22 precluding reality avoidance and the worst yet to
come. More nations leaving the worthless dollar as reserve currency even as
frauds on wall street reach new highs (What are they smoking? Coking? or like the dollar just cracking)
based on corporate welfare flows with money the nation doesn't have
pre-election (record deficits). Housing prices continue their sharp decline as
bubble deflates. GM only lost 115 million. Ford lost 5.8 billion and must
restate earnings back to year 2000 is a bullish sign in the fraudulent alice-in-wonderland lunatic world
of wall street. Typical pre-fed meeting rally to provide a cushion for any negative
pronouncements which reality would require but are seldom forthcoming by the
accommodative frauds who have similarly embraced unreality. Indeed, the gutless wimps of wall
street think they're "tough" when
they fraudulently take the market higher despite a clearly contrary fact based
reality. Caterpillar relates the pervasive reality and the frauds on wallstreet intimidate same with
sell off, ignoring pervasive options scandal/fraud and rallies Merck despite
lower than expectation results.....riiiiight! Election year corporate welfare to prime the pump and the
mock stock market with money the nation doesn’t have (increasing already huge
deficits). CPI figures (upon which government inflation adjusted payment
obligations are based) lower than expected…..riiiiight! Intel earnings/revenues down sharply but according to the
lunatic frauds on wall street, beat expectations and stock rallies along with
yahoo which as in the pre-dot com bust days says better days are a coming….. riiiiight Core inflation rate
which is closely watched by the Fed exceeds all expectations. Fraud Merrill
Lynch has really been pushing and commissioning that worthless paper and
reports record earnings, despite having produced nothing and for very little if
any value added (that ill-gotten money has to come from somewhere-your
pockets?). The big economic report awaiting scrutiny was the monthly trade
deficit which was expected to narrow but in fact INCREASED to 69.9 billion. The
alice-in-wonderland
lunatic wall street
frauds rallied on the news as the dollar precipitously fell. The Fed Chairman
said there is a "substantial correction" in housing, which will
probably shave about 1% off growth in the second half of the year. The
Institute of Supply Management said its services index fell to 52.9 in
September -- the lowest level since April 2003. Great News….. riiiiight!..... Consumer
Confidence Higher Than Expected... riiiiight!..... and housing starts were
down sharply but not-as-bad-as-expectations game in play US
Existing Home Sales Fall 0.5% in August; Sales Price Drops Existing-home
prices fall for 1st time in 11 years along with fed jaw-boning pre-election
that inflation has been licked .....riiiiight …..despite printing worthless dollars like they’re going out of style
because they really are! Fed did nothing and stocks rallied, pre-election.....riiiiight! What about the reality
of u.s. debt service
at a record unsustainable $2 billion per day on a revolving $2 trillion charge
account with ie.,
China, etc.. The fact that foreclosures are up and that there is projected new
trade deficit record, fake government inflation numbers for election year
purposes, housing starts down 6% means little to the alice-in-wonderland lunatic frauds of wall street and the
so-called pundits including yahoo below. Almost all computerized volume is and
must be considered heavy, manipulated, economically wasteful volume [stocks
move contrary to rational analytical facts (ie., exceeded lowered expectations, things so bad interest
rates can’t rise, exceeded expectations, no earnings but outlook extraordinary,
the fed says booo as
they print more worthless dollars to finance deficits, etc. ) is money in the bank for the
frauds on wall street when they unwind said irrational positions ].
Philadelphia Federal Reserve announces that its broadest measure of
manufacturing activity fell to a negative reading for the first time since
April 2003, leading economic indicators fall .2%, and previously fell .1% though expected to show an increase, and in addition
to the larger than expected 4.1% drop in July existing home sales to its lowest
level in over two years and lifted inventories to record levels , new home
sales fell 4.3%, and a larger than expected 2.4% decline in July durable orders
which are negatives anywhere but in the alice-in-wonderland lunatic world
of wall street where same is greeted as good news as also follows with b**l s**t
from Yahoo (which didn’t even reference the record unanticipated trade gap):
Housing Construction
Hits 16-Year Low... Broken Seasonals
Suggest a Bear Market
(12-17-07) Another modest drop relative to reality on wall street as the
i word plus the r word yield the stagflation word, with Monday morning
quarterbacks very late to the game starting to talk recession, with fears of
accountability for the fraudulent run-up/bubbles weighing heavy as all the bad
news remains the same….. (12-14-07) Modest drop relative to reality on wall
street, as consumer price index shows higher than expected inflation (though
still substantially underreported) , fears they may be held accountable for
their fraud mount, and none of the sugar-coated bad news has changed….. (12-13-07) Inflation (wholesale) (though
still substantially underreported) up sharply (highest in 34 years), bond
prices fall sharply, lunatics’/suckers’ bear market rally/dead dog bounce into
the close to keep the suckers suckered and computerized commission trade
dollars flowing, all the bad news remains the same….. (12-12-07) Federal
deficit up sharply, along with oil prices (inventories fell substantially),
foreclosures up, dollar down, sparks lunatics’/suckers’ bear market rally/dead
dog bounce into the close to keep the suckers suckered and computerized
commission trade dollars flowing, while pros/institutions are tip-toeing to the
doorway leaving you with their bag of tricks/fraud/bull s**t! Nothing has
fundamentally changed regarding the descent and decline of criminal/fraud
america. (12-11-07) Modest relative to reality drop on wall street as fears
they may be held accountable for their fraud mount and nothing has changed…..
(12-10-07) The market started the week on a bulls**tish note, aided by a
financial sector that rallied again on the back of news about capital infusions
(good money after bad) despite write-downs/losses in the financial sector, ie.,
UBS, MBIA, etc.. Another fake report from the gov’t also helped the fraud.
Already sugar coated fake data/news/reports have been as bad as could be and
far worse than expected by the fed leading to new bull s**t fraud-facilitating
talking point, viz., interest rate cut expectations despite worthless dollar
and much higher than reported inflation, one analyst/reporter/journalist from
inside sources pegs the sub-prime dollar value of the shilled worthless paper
at $516 TRILLION (even a percentage of same renders the problem
unfixable-hence, culpable parties must be held accountable and disgorge their
ill-gotten gains from, ie., commissioning worthless paper, taking a point here
or there and fraudulently passing same on, ad infinitum, etc.), dollar at/near
record lows, consumer confidence down, housing/real estate/indices/prices down,
durable goods orders down more than expected .4%, leading indicators down, oil
price drop on “less demand” (riiiiight) rallied oil stocks (suuuuure)
(11-30-07), deficits, fake/false government reports/data, expectation of rate
cut because things are so bad despite higher than reported inflation and
negative effect on worthless dollar, etc., all to keep the suckers suckered and
computerized commission trade dollars flowing, while pros/institutions are
tip-toeing to the doorway leaving you with their bag of tricks/fraud/bull
s**t! Nothing has fundamentally changed regarding the descent and decline
of criminal/fraud america. Remember:
more contrived wasteful commissions to the wall street frauds, the level and
percentage of which should be examined in light of computerization and
decreased costs attendant to same especially since only A Very Small Fraction
Of What wall street Does Is A Net Positive For The Economy (New Investment
Capital via, ie., ipo’S), The
Rest Is Tantamount To A (Economically) "Wasteful Tax" (On The
Economy) via 'churn and earn' computerized programmed trades. Echoes former world bank leader with prediction of global recession Steve Watson A leading economic expert has warned that a global crash and recession is imminent on the back of record highs in real estate, stocks and energy, combined with a devaluation of the dollar and continued speculative bubble thinking. Robert Shiller, the Stanley B. Resor Professor of Economics at Yale University told an audience at the annual Dubai International Financial Centre (DIFC) Week that a sharp downward correction is due in the global markets. Shiller stated: Perhaps we have gotten a little too confident in the global economic growth, said Shiller. The problem is high oil, stock and real estate prices. I believe that a substantial part is speculative bubble thinking. We have gotten too confident of the prices in these markets. Dom Armentano Lew Rockwell.com Thursday December 6, 2007 Presidential election years usually are not recessionary but next year will be an exception. Several economic factors are colliding in an almost perfect storm to markedly slow the general economy and the stock market. The most important signal flashing recession is, of course, the sub-prime mortgage fiasco. After years of monetary inflation on the part of the Federal Reserve, individuals and families with poor credit were suckered into low-down-payment/low-interest adjustable mortgages that simply cannot be maintained or repaid under current conditions. Their incentive is to sell the property quickly before their equity evaporates and/or the financial institution repossesses it. Yet the massive oversupply of homes and condos for sale has pushed prices down at a record clip and made additional foreclosures even more likely. Next year, unfortunately, will be the Year of the Auction. The financial institutions have also been punished…well sort of. Various institutions including hedge funds that hold these poorly performing debt obligations have been forced (by accounting rules) to "write down" the value of these assets, take huge paper losses in the bargain, and pull in their financial horns. Thus, any near-term recovery in housing must now fight a record supply availability, falling prices, higher insurance costs and restricted credit…a near-term impossibility in my view. Moreover, the slowdown in residential and commercial construction will send secondary ripple effects throughout the economy. Laid-off construction workers don't spend money. Construction and home furnishing suppliers sell less output and make fewer investments. Even local governments will be pinched by declining property-tax assessments and fewer developer fees. Things are likely to get worse before they get any better. The second major factor indicating a near-term recession is the sky-high price of crude oil and refined product. Pushed upward by world-wide speculative Mid-East war fears and increases in demand (especially from China), increasing energy prices act as an inflationary "tax" on domestic production and consumption throughout the market economy. Higher costs of production will lower profits; higher prices will reduce some consumption. The only good news here is that any substantial economic slowdown in 2008 will eventually moderate the price of oil and other commodity prices as well. The third factor in the current recession scenario – and the real wild card – is the continuing decline in the value of the dollar in international money markets caused by our Iraq blunder and the Federal Reserve–generated oversupply of dollars. Some economists would argue that a devalued dollar is good for U.S. exports, and thus positive for the economy as a whole. I disagree for three reasons. First, the bulk of crude oil purchases takes place in dollars; a falling dollar translates into still higher crude oil prices. Second, the U. S. dollar is the major reserve currency of the international monetary system and dollar-paying investments (such as U.S. Treasury bills and bonds) are held in massive amounts by foreign banks and governments. Dollar devaluation makes these investments less attractive and any disinvestment in these areas would sharply drive bond prices down and increase interest rates. The third reason why dollar devaluation makes recession more likely is that it effectively prevents the Federal Reserve from pushing U.S. interest rates much lower. Any additional Fed easing (inflation) would be seen as a signal of even further future dollar devaluation and even higher dollar prices for oil. Unfortunately, we will not be able to "inflate" our way out of this recession this time. We will simply have to take our lumps and let market forces liquidate the bulk of the malinvestments caused by the unprecedented Greenspan money bubble. This liquidation process will not be pretty but it is necessary to restore a sustainable economic recovery in the years ahead. FROM THE SUB-PRIME TO THE RIDICULOUS: HOW $100B VANISHED... PAPER: TOP ECONOMIST SAYS AMERICA WILL PLUNGE INTO RECESSION... *(12-30-07) The best and easiest to understand analogy, though not perfect, to the wall street markets is the kiting of checks at lightning computerized trading speed on which commissions are taken although there is nothing of real value underlying their fraudulent scheme. *(12-31-07) The ubiquitous computerization of wall street functions, the enhancement/advance/integration of the said computer equipment/peripherals in terms of computing power and speed, along with the concomitant advance/sophistication of the programming concerning same has enhanced the ability of the frauds on wall street to effect their frauds with blinding speed vis-à-vis the funds entrusted to their care by way of programmed trades, ie., buy, sell, stop limits, etc.. An example (though not perfect) is illustrative: Dow drops 200 points as programmed sell orders kick in with some not so fudged negative news. Nothing changes but the following day the market rises 205 points on programmed buy orders (a little higher despite the absence of any positive news). Hence, the huge swings which have become ever so more prevalent. Though nothing has changed, hundreds of millions of dollars without relation to any value added (in economic terms, service, etc.) is taken in commissions (percentages, points, spreads) by the frauds on wall street on huge computerized trading volume (hence, the multi-billion dollar bonuses on top of huge salaries, etc.). The fact is that these funds entrusted to them are so large that such computerized “buys” can simulate other than rational demand causing prices to rise solely to generate huge commissions to them and new funds coming in (as in a ponzi scheme). The corrupt government has been complicit in terms of false economic reports, legislation protecting the fraud (ie., exemption from RICO accountability, etc.), while the courts are also corrupt facilitators (new york, etc., and similarly don’t count on arbitration panels). There was a time when transactions costs mattered in financial investment decisions. The trades/commissions are not a net positive for the economy but are indeed of great benefit to the recipients of same (who like termites eat away at other peoples’ money, and whose marginal propensity to consume is less than those allocating their monies/pensions/401ks/savings etc.; hence, the mess to follow). Finally, the NASDAQ has become the “safe haven” but in reality as in the dot.com bust days are just the great story without much fundamental understanding that keeps the fraudulent ball rolling. *(1-01-08) Remember: more contrived wasteful commissions to the wall street frauds, the level and percentage of which should be examined in light of computerization and decreased costs attendant to same especially since only A Very Small Fraction Of What wall street Does Is A Net Positive For The Economy (New Investment Capital via, ie., ipo’S), The Rest Is Tantamount To A (Economically) "Wasteful Tax" (On The Economy) via 'churn and earn' computerized programmed trades. Ron Paul indeed Out-Foxed (for now) December 31, 2007 United Nations Comic Books Designed to Brainwash Kids December 31, 2007 Ron Beats Rudy? New Hampshire could surprise a lot of people December 31, 2007 Israel: Biggest Single Self-destructive Irony of Western History Perhaps the biggest single self-destructive irony of Western history is best understood by standing in the town square of Bethlehem, allowing one’s gaze to pass over the roof top of the church that covers the stable where Jesus was supposedly born, and let one’s eye drift into the blue sky beyond and thinking: How on earth could it be that the Christians, whose belief in the divine center around Jesus’ crucifixion carried out by Roman soldiers but done at the behest of the Jewish populace, could turn round nearly two millennia later and say to the Jews in effect: We buy the argument that you are God’s chosen people and this land is your land and we are going to turn it over to you as your “national home”, even though the Arabs or their forefathers have been living here since the Romans kicked the Jews out of Babylon after demolishing the Temple in AD 70. This is what British foreign secretary, Arthur Balfour, did in his famous Declaration, strongly backed by Prime Minister Lloyd George, a religious man who saw the Jewish cause as one that must be supported by Christian charity….. US Must Re-Evaluate Its Self-destructive Relationship With Israel |
|
The United States is heading for bankruptcy, according to
an extraordinary paper published by one of the key members of the country's
central bank. |
A ballooning budget deficit and a pensions and welfare
timebomb could send the economic superpower into insolvency, according to
research by Professor Laurence Kotlikoff for the Federal Reserve Bank of St
Louis, a leading constituent of the US Federal Reserve.
Prof Kotlikoff said that, by some measures, the US is
already bankrupt. "To paraphrase the Oxford English Dictionary, is the
United States at the end of its resources, exhausted, stripped bare, destitute,
bereft, wanting in property, or wrecked in consequence of failure to pay its creditors,"
he asked.
According to his central analysis, "the US government
is, indeed, bankrupt, insofar as it will be unable to pay its creditors, who,
in this context, are current and future generations to whom it has explicitly
or implicitly promised future net payments of various kinds''.
The budget deficit in the US is not massive. The Bush
administration this week cut its forecasts for the fiscal shortfall this year
by almost a third, saying it will come in at 2.3pc of gross domestic product.
This is smaller than most European countries - including the UK - which have
deficits north of 3pc of GDP.
Prof Kotlikoff, who teaches at Boston University, says:
"The proper way to consider a country's solvency is to examine the
lifetime fiscal burdens facing current and future generations. If these burdens
exceed the resources of those generations, get close to doing so, or simply get
so high as to preclude their full collection, the country's policy will be
unsustainable and can constitute or lead to national bankruptcy.
"Does the United States fit this bill? No one knows
for sure, but there are strong reasons to believe the United States may be
going broke."
Experts have calculated that the country's long-term
"fiscal gap" between all future government spending and all future
receipts will widen immensely as the Baby Boomer generation retires, and as the
amount the state will have to spend on healthcare and pensions soars. The total
fiscal gap could be an almost incomprehensible $65.9 trillion, according to a study
by Professors Gokhale and Smetters.
The figure is massive because President George W Bush has
made major tax cuts in recent years, and because the bill for Medicare, which
provides health insurance for the elderly, and Medicaid, which does likewise for
the poor, will increase greatly due to demographics.
Prof Kotlikoff said: "This figure is more than five
times US GDP and almost twice the size of national wealth. One way to wrap
one's head around $65.9trillion is to ask what fiscal adjustments are needed to
eliminate this red hole. The answers are terrifying. One solution is an
immediate and permanent doubling of personal and corporate income taxes.
Another is an immediate and permanent two-thirds cut in Social Security and
Medicare benefits. A third alternative, were it feasible, would be to
immediately and permanently cut all federal discretionary spending by
143pc."
The scenario has serious implications for the dollar. If
investors lose confidence in the US's future, and suspect the country may at some
point allow inflation to erode away its debts, they may reduce their holdings
of US Treasury bonds.
Prof Kotlikoff said: "The United States has
experienced high rates of inflation in the past and appears to be running the
same type of fiscal policies that engendered hyperinflations in 20 countries
over the past century."
UPDATE - Two former NYSE
traders found guilty of fraud
Stock market staggers, but investors still may be too
optimistic
Commentary: Newsletters react to
stock markets' losing week
By Peter Brimelow,
MarketWatch 12:04 AM ET Jul 17, 2006
Investors may still be too optimistic
NEW YORK (MarketWatch) -- First, a proprietary word: on Friday night, the
Hulbert Stock Newsletter Sentiment Index (HSNSI), which reflects the average
recommended stock market exposure among a subset of short-term market timing
newsletters tracked by the Hulbert Financial Digest, stood at plus-23.8%. This
was certainly below the 31.4% it showed on Tuesday night, when Mark Hulbert
worried, presciently we must say, that it was too strong from a contrary
opinion point of view. But it's still above its 12.6% reading at end of June,
although, Mark pointed out, the stock market had declined in the interim. And
since Mark wrote, the Dow Jones Industrial Average has had three triple-digit
down days.
Not
good.
Dow
Theory Letters' Richard Russell wrote Friday morning: "If the Dow breaks
support at 10,760, I think we could have some nasty action, even some crash-type
action." But, perhaps significantly, Russell did not quite hit the panic
button when the Dow did indeed close at 10,739 Friday night.
He simply
remarked, supporting the contrary opinion view: "Three days in a row with
the Dow down over 100 points each day -- you don't see that very often. But
still no signs of real fear, no capitulation, no panic -- just down, down, and
down. The key consideration here is that there is still no sign of big money
coming into this market. In fact, the big money has been leaving this market
all year. ... The longer the market continues down without a panic decline, the
worse the ultimate panic will be when it arrives."
What is Wrong with the Stock Market?
Dr. Khaled
Batarfi
Wall Street Lunacy 2006 
Current Topics 2006
Financial Lunacy 2006