Author Archive

“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 [...]

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 [...]

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

More terrorism - US style

http://www.atimes.com/atimes/Global_Economy/LC17Dj03.html
1) if the economy is really improving http://market-ticker.denninger.net/archives/2099-If-The-Economy-Is-Recovering….-CAT.html
2) Now Bernanke wants to eliminate reserve requirements completely
http://www.businessinsider.com/now-bernanke-wants-to-eliminate-reserve-requirements-completely-2010-3
3) Website’s instant posts of Wall Street research banned http://www.reuters.com/article/idUSTRE62H4NJ20100318?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28News+%2F+US+%2F+Business+News%29
4) Did bernanke mean Supervision - or bailout http://www.themarketguardian.com/2010/03/did-bernanke-mean-supervision-or-bailout/
5) The financial terrorism of Wall St.

- Rustyrayl

WHAT IS BANKING?

Bank derives from Italian word banco “desk/bench” covered by tablecloth, used by Jewish Florentine bankers!
Dates back to the Knights of Templar and their protection racket for the rich of England and the Vatican.
Word traces to Ancient Roman Empire, where moneylenders set up their stalls in courtyards!
Moneychangers did not invest money but converted foreign currency.
Banks borrow [...]

Why no mention of this little bombshell behind the Moody’s warnings?

CORPORATE DEBT COMING DUE MAY SQUEEZE CREDIT
By NELSON D. SCHWARTZ
Published: March 15, 2010
NYTimes
When the Mayans envisioned the world coming to an end in 2012 — at least in the Hollywood telling — they didn’t count junk bonds among the perils that would lead to worldwide disaster.
Maybe they should have, because 2012 also is the beginning [...]

Four things to consider:

1. ‘Never Short a Dull Market’ Yes, that old chestnut.
The reasoning behind the ever-popular market maxim is pretty simple: Skeptical investors tend to wait until a market peaks to truly buy in. By that time, it’s too late, and sellers start taking over. When the market is dull and makes quiet moves up, as has [...]

Must-Know News - March 18 “Chants of “Strike! Strike! Strike!”

1) Local-debt triggers market worries (China)

“The massive amount of borrowing by local government has boosted China’s total domestic and foreign government debt from 26 percent to 43 percent of national GDP, triggering worries that if a fraction of the borrowing turns sour, banks will be saddled with bad loans. ”

2) Europe facing [...]

FEDEX CHART MEANS DOUBLE-DIP FOR ECONOMY

Interesting:
FEDEX CHART MEANS DOUBLE-DIP FOR ECONOMY
Monday, 15 Mar 2010 | 8:07 AM ET
FedEx gives investors a clear insight into how the U.S. economy is going to perform and its chart is saying that a double dip recession is inevitable, Robin Griffiths, technical strategist from Cazenove Capital, told CNBC Monday.
“There isn’t just a risk of a [...]

The 2nd half will be the tough half and that it could start late 2nd quarter but, more likely 3rd quarter.

This article could add to the burden the 2nd half will have to carry.
quote:
California foreclosure starts rise nearly 20% in February
March 15, 2010
The number of California homes pushed into the foreclosure process by banks jumped 19.7% in February from the month prior, according to a report released Monday.
…… “While efforts to slow foreclosures are clearly [...]

I brought home a large can of “Bruces Yams” from WalMart and noticed a nice layer of dust on the top of it.

Noticed also a lot of product in the grocery store is missing from the shelves…a lot of it is what used to be the larger sizes…that are not being restocked because people are’nt buying anymore.
Every time something is scanned at the checkout it shows up immediately in their inventory control program at Arkansas. A lotta’ [...]

Glad everyone is doing great in stocks, Detroit plans to close near 45 schools.

45 Detroit schools set to close under plan
Forty-five Detroit schools or educational buildings will close in June under a $1 billion plan unveiled Wednesday by the city school district’s emergency financial manager.
The district has been beset with falling enrollment as well as aging buildings, emergency financial manager Robert Bobb said Wednesday. The plan will allow [...]

We not only face a “lost decade” of growth but a “lost generation”

PPI & CPI is running hot and inflation is the most corrosive, regressive, asinine tax we can impose on ourselves You have never studied monetary policy or economics so you don’t know the dangers that this system faces. Quit shrilling up the numbers and claiming inflation is not here. Please, for once someone, anyone other [...]

Here is the REAL story: Continuing saga of CONTINUING unemployment:

Year … Continuing … Fed Programs… Total … Covered … % Of Cover
2006 … 2,860,513 … ……………… … 2,860,513 … 128,767,336 … 2.2%
2007 … 3,016,840 … ……………… … 3,016,840 … 131,188,612 … 2.3%
2008 … 3,297,238 … ……………… … 3,297,238 … 133,010,953 … 2.5%
2009 … 6,357,336 … 2,149,372 … 8,506,708 … 133,886,830 … 6.4%
2010 … 5,375,836 [...]

Full Steam Ahead For The Economy? Whose economy? What a load of BS!

There is no “recovery” at all. Main Streets all over America have more stores and commercial buildings empty and with “Available” or “For Lease” or “For Sale” signs than at any time since the Great Depression. We have actual unemployment of around 24% now in the US when counted the way it was during the [...]

Anyone catch The Daily Show last night? It’s priceless! John Stewert pretends he is a corporation, Jonco, ROFL!!

The Daily Show With Jon Stewart
Mon - Thurs 11p / 10c