The cost of this so-called “recovery” is unbelievably high (Chart)

This a very frightening chart. This is the reason that those who argue that debt concerns are overrated (Krugman, et al), are absolutely wrong, but not for the reason that one would expect. It’s not the debt, it’s the interest on the debt that eats you up. You can default (and the US will) on [...]

Current Recession vs. Previous Ones

At the heart of every market crisis I can remember, (Latin America debt crisis, S&L crisis, the dot com bust, the current one that began as the subprime crisis but will probably end as the Great Depression II) the basic cause has been the same. Banks going for short term gain because that’s what the [...]

Housing market double-dip worries are unfounded? Houses in Rebounding? Good time to buy a house?

Remove all of the shenanigans going on to try an prop up the illusion housing has stabilized and we would fall off a cliff. To recap what has gotten us to “stabilization”.
1. 1.25 trillion in Fed purchases of MBS
2. Government paying people 6k to 8k to buy a home
3. Suspension of FASB 157 allowing banks [...]

Toyota came in at number 35 for quality even BEFORE the recalls. They suck….

1.Acura
2.Audi
3.BMW
4.Buick
5.Cadillac
6.Chevrolet
7.Chrysler
8.Dodge
9.Ford
10.GMC
11.Honda
12.Hummer
13.Hyundai
14.Infiniti
15.Jaguar
16.Jeep
17.Kia
18.Land Rover
19.”Lexus”
20.Lincoln
21.Mazda
22.Mercedes-Benz
23.Mercury
24.MINI
25.Mitsubishi
26.Nissan
27.Pontiac
28.Porsche
29.SAAB
30.Saturn
31.Scion
32.Smart
33.Subaru
34.Suzuki
35.”Toyota”
36.Volkswagen
37.Volvo
Source(s):
http://www.jdpower.com/autos/ratings/qua%E2%80%A6
They keep trying to cover stuff up! They first said it was the floor mats come on!
They don’t deserve to be the largest Auto Maker. They suck!

An outstanding synopsis of what our “Economy” faces today:

GDP Growth: The majority of the 5.7% Q4 growth came from the “inventory bounce” from the wafer-thin inventories companies have been running on. Savings rate is up and the consumer is de-leveraging. Stimulus bounce (as well) has run its course.
Global GDP: Japan has nowhere to go but up after almost 3 decades of deflationary limbo. [...]

I support the health care reform bill. I do not support everything in the bill. The mandatory coverage is one example.

Does anyone else see this as an extremely dangerous president? Never before has our government mandated that every citizen buy a product before.
Please don’t use the ‘car insurance’ rebuke. If you don’t own a car, no one forces you to buy insurance. Not to mention, I buy car insurance in case I hit someone else. [...]

Recovery is based on borrowed money. Nothing has been fixed! We are doing more of the same that brought us the crash!

We are at the early stages of a deflationary collapse!
In 2008 the money supply was in free fall because defaults were destroying debt based money. The reason that defaults were destroying money is because that debt used as money had very little real collateral s when the borrower defaulted the collateral did not cover [...]

Must-Know News - March 21 “Last year we spent just under $400 billion on interest on our current debt”

1) Senate committee begins shifting teacher pension costs to counties (Maryland)

“The Senate budget committee has taken the first step toward passing half of the state’s massive burden for teacher pensions onto local governments, as part of the budget it voted to send to the Senate floor on Monday.
The Budget and Taxation [...]

Call These Congressmen and Congresswomen TODAY:

I’m Democrat, but call them to vote “NO”, “NO”, “NO” on this hastily-crafted, bankrupting, abortion being crammed-down our throats.
US Representative District Office Capitol Hill Office
Adler, John (732) 608-7235 (732) 608-7235 (732) 608-7235 (732) 608-7235 (202) 225-4765 (202) 225-4765 (202) 225-4765 (202) 225-4765
Altmire, Jason (724) 378-0928 (724) 378-0928 (724) 378-0928 (724) 378-0928 (202) 225-2565 (202) 225-2565 [...]

“President Obama’s push to pass health care reform will fall short — that is, if the stock market is any indicator.”

Here is an interesting article from ABC News
Stock Market Signals Health Reform Flop
As Vote Looms, Closely Watched Insurance Stock ETFs Rally – Bad News for Obama
By RICH BLAKE
March 19, 2010
President Obama’s push to pass health care reform will fall short — that is, if the stock market is any indicator.
President urges undecided members of Congress [...]

Health reform’s political path (MW)

health-care milestones
2009
May President Obama calls health costs unsustainable, says he wants reform this year
June Obama speaks to doctors at the annual meeting of the American Medical Association
August Lawmakers face angry constituents at town-hall meetings
Aug. 25 Sen. Ted Kennedy of Massachusetts, a long-time health-reform champion, dies of brain cancer
Nov. 6 AARP and the AMA endorse [...]

Must-Know News - March 20 “Union Projects Up To 5000 Teacher Layoffs “

1) Hawaii’s ‘Lax Management’ Freezes $1 Billion Deal

“March 19 (Bloomberg) — Hawaii State Auditor Marion M. Higa found “lax management” of the state’s treasury led to a $1 billion investment in auction-rate securities that will result in $254 million in writedowns.
The conclusion came in a 122-page report to the governor and [...]

END THE WARS LIKE YOU PROMISED IN THE MYTHICAL 16 MONTH deadline like you said OBAMA!!

The government spends approx 10 BILLION a MONTH for these wars..and since you have been in office, that is 140 BILLION spent that COULD have gone towards the deficit…..WHY save 138 Billion in 10 YRS (13.8 billion a year), when you spend 10 BILLION every month???
OBAMA and OBAMANITES, you are the reason we will fall [...]

The following article from AT today captures the sense of bemused disbelief that I think is beginning to pervade a great deal of informed commentary.

Titled “Liar’s punishment” its conclusion (basically the system is doomed) I think is becoming much more widespread:
http://www.atimes.com/atimes/Global_Economy/LC20Dj02.html
Quote:
……………….
This is jaw-dropping stuff. Not only did the regulators of Lehman actually know about its accounting shenanigans, they may have actually blessed them in order to sort out a “smooth” sale. This also explains why US regulators may [...]

It seems we have hit yet another round in the legal battle against the FED, where it is once again told it must release bailout details.

For them not to release these details would be like trying to buy a used car, asking to have a peek under the hood and being told you are not allowed, but trust the salesman, it’s for your own good.
” March 19 (Bloomberg) — The Federal Reserve Board must disclose documents identifying financial firms that [...]

Housing is hosed. When the demand for 3.5% down payment loans is falling, this isn’t a good sign.

http://www.cnbc.com/id/35952456
Fannie Mae took a big scissors to its forecast for residential investment (mortgage funding) this quarter. A month ago they thought the it would rise 2.8 percent in Q1, but now they’re saying it could drop 17.2 percent. That’s some change.
On top of that they slashed their forecast for mortgage originations for 2010 to 1.31 [...]

The Boston Globe in Massachusetts:

“Massachusetts could face a second wave of foreclosures as tens of thousands of distressed and bank-owned properties hit the market, slowing the state’s nascent housing recovery, officials from the Massachusetts Housing Partnership said. Clark Ziegler, executive director of the state’s quasi-public, affordable housing agency, said there are about 64,000 distressed properties in so-called shadow inventory [...]

Adding to the housing glut: An increase in the number of foreclosed homes that banks are looking to unload.

That number was actually falling much of last year, as many homeowners were suspended in limbo, waiting to find out whether they qualified for permanent modifications under the HAMP program.
Now that HAMP has proven itself a miserable failure, some of those homes are coming to market. Thus, Barclays estimates the number of foreclosed homes held [...]

When all investments are a craps shoot today, what is wrong with putting a small % of ones money into any metal?

Ask any reputable broker and they will tell you to have 5-10% in metals. Nothing is fool proof………and if one looks at the supply/demand factor, silver does shine. No emotional attachment like gold and look at just the industrial aspect of silver………it’s simple logic.
If the dollar collapses, silver would be more practical for exchange than [...]

“The government saved us”? The opposite is true.

Look at the lousy help for the SBA, Home loan modification, and ZERO prosecutions of those repsonsible for the Great Recession.
The question is without any regulatory reform (even a half hearted attempt with reenstatement of Glass Steagall) and trillions in new debt we simply pushed off financial armageddon.
Below is more proof of government’s reward for [...]

How hard is it really to connect the dots in Wall Street’s game?

Let’s blame the bankers, the homeowners or the politicians…” seems to be the only thing I hear from all sides. The problem is that no one has an accurate account of the how and why so it rarely convinces the masses. Meanwhile, those masses go about their day to day matters with no clear direction [...]

Here is another thing about bank closures:

If the FDIC sells any of a closed banks assets, they also cause writedowns in any bank that was a partner in that asset.
quote
Almost half of the loans were originated by Silverton Bank NA, whose collapse in May was the biggest in Georgia history. Community banks that joined Silverton in providing $80 million for the [...]

It’s getting dark. Banks? How about countries?

Iceland got it right and spoke the truth two years ago when they told the world, North America, Asia & bull horned to the EU they are bankrupt. They played it smart, they can trade but they are not by definition a member of the EU but can do commerce with the EU without the [...]

Has Bernanke Perjured Himself?

Remember, Bernanke said under questioning the other day that “they hid it” in response to a question about whether or not The Fed knew about the Lehman “105″ repo arrangements, which appear to have been structured to intentionally mislead the public (and investors) about its liquidity position.
But in the deep of the night Financial Times [...]

Four more… on top of three others… all today. FDIC website has a total of 7 failed banks for March 19.

Well, there’s 37 banks so far this year that haven’t been able to commit accounting fraud like the ‘big boys’ and have gone down the toilet. It should be the other way around you dirt bags in the Federal Reserve, FDIC, and Congress!!
One of the three is Advanta Bank Corp. which is not small potatoes. [...]

View from the City: My problem with Alan Greenspan

David Buik, partner at broker BGC
‘It took Greenspan until the 24th October 2008 to admit to any culpability over the banking crisis. I have no idea if he was in denial or just arrogance personified.
‘Certainly manners have never been high on the good doctor’s agenda. He should have remembered that when Paul Volcker, his predecessor, [...]

Must-Know News - March 19 “Great 2010 Crash is looming”

1)  Sengoku Says Japan Has Very Little Room for Stimulus

““Japan is closer to the edge than any other major economy,” said Julian Jessop, chief international economist at Capital Economics Ltd. in London. “There is the risk that the higher the debt numbers are, the more another stimulus package is going to [...]

The US collapse is happening! Gerald Celente: Great 2010 Crash is looming

Obamacare will bankrupt country

Cahill accused Obama of “propping up” the Bay State’s health plan with federal aid in order to help push the Democrats’ plan through Congress.
“The real problem is that this . . . sucking sound of money has been going into this health-care reform,” Cahill said. “And I would argue that it’s being propped up so [...]

Good tips to lower your electric bill:

The best ways are to unplug appliances and things you don’t use often as things that are plugged in still draw in energy even if they are turned off.
Switch to CFL lightbulbs.
Set your thermostat to 78 in the summer and 68 in the winter when you are home. And raise it 3-4 degrees during the [...]