Exciting Week for Stocks, ETFs but Economic Indicators (of which the

boot-strap bubble stock market is a significant component inflating /

obfuscating same) Tell Different Story … This week I read some truly
remarkable and conflicting facts that make things all the more interesting
and confusing. On the up side, the March Institute of Supply Management
report was positive, as was the February Pending Home Sales and
Wholesale Sales, while Consumer Credit unexpectedly contracted by a
whopping -$11.5 Billion. Also this week, it barely made the news that
weekly unemployment claims unexpectedly rose by 18,000, and the four
week moving average was up from the previous week as well.
Underemployment remains near 20%. We have approximately 5 million non
current home mortgages in the US and a record 40 million people on food
stamps, a number which has steadily been rising over the last year. In the
housing sector, mortgages reached an eight month high this week and
even Chairman Bernanke said in a speech that we’re “far from being out of
the woods,” which is a chilling comment from one of the chief cheerleaders
and architects of the recovery. Looking at the all important housing and
employment markets, the FOMC meeting minutes released this week were
even more chilling.

Regarding general conditions, the FOMC said:

Household spending going forward was likely to remain

constrained by weak labor market conditions, lower housing
wealth, tight credit, and modest income growth.

The employment outlook was not particularly bright, in their opinion, as the
minutes said:

Participants were concerned about the scarcity of job

openings, the elevated level of unemployment, and the extent
of longer-term unemployment .... Moreover the downward
trend in initial unemployment claims appeared to have leveled
off in recent weeks ...

Regarding the all important housing market, the minutes said:

Participants were also concerned that activity in the housing

sector appeared to be leveling off in most regions despite
various forms of government support, and they noted that
commercial and industrial real estate markets continued to
weaken. Indeed, housing sales and starts had flattened out at
depressed levels, suggesting that previous improvements in
these indicators may have largely reflected transitory effects
 from the first-time homebuyer tax credit rather than a
fundamental strengthening of housing activity.

It’s just hard to see any good news in this report but somehow the markets
have managed to ignore what clearly are scary facts. Looking abroad, the
Greek Tragedy continued to unfold with Greece bonds crashing last week
and requiring a 442 basis point premium to German bonds to be sold which
Prime Minister George Papandreou labeled as unsustainable. Clearly
Greece needs help from the European Union and probably the IMF and a
plan could be announced as early as this weekend to stave off Greece’s
default. Greece needs more than eleven billion eurodollars to cover debt
between now and the end of May and last week, ratings agency Fitch cut
both the nation’s and its banks’ credit ratings with a negative outlook. The
problem here, of course, is that it isn’t just Greece that is in trouble but the
other so called “PIGS” or Club Med states. Global contagion and sovereign
defaults remain a real concern in the months ahead. Looking to Asia, China
had a failed bond auction last week which went largely unnoticed in the US
financial press. They offered 91 day and 273 day paper and neither offering
was fully subscribed as they tighten their money supply in an attempt to
slow potential inflation. Finally, earnings season starts Monday with Alcoa
(AA), and late last week the company was hit with analyst downgrades,
perhaps to make their results “exceed expectations” in spite of
deteriorating earnings. What It All Means Adding it all up, we see an
overbought, complacent market on a technical basis and a relatively high
risk environment on a fundamental basis both at home and abroad …

Listen here and listen well: The frauds on wall street know all the tricks,
mechanized trading trendline buy signals, chart buy signals, confirmation
of trendlines, technical analysis, and other very mechanically applied
strategies, etc., and can, and do manipulate by computerized buy programs
(previously described in part on this website) accordingly. Everything
purporting to account for the rise has already been discounted many times
over to the upside over the past year and even that which purports to be
must be discounted along with the looming reality of insurmountable debt
crisis / debacle in this country, the GDP of which has already begun to
suffer from debt service / costs. Sell while you can / take profits, gains / sell
into strength / preserve principal / don’t be caught holding their bag as in
prior crashes.

The Guy Who Brought Down AIG – and Maybe the World Economy – Gets
Off Scott-Free, and Gets to Keep $315 Million in Loot joseph cassano,
the guy who brought down AIG – and maybe the world economy –
with trillions in risky derivatives deals which AIG couldn’t back up, is
getting prosecuted … and the government will claw back all the
money he … riiiiight … what frauds!
The Rules Part VII: Bear Markets Reveal Optimistic Assumptions and
Accounting Chicanery Chinese Students Laugh at Tiny Tim
geithner as He Talks About U.S. Dollar, Economy Infowars | The
laughing incident was ignored by the corporate media in the United
States.

Federal Reserve Chairman Ben Bernanke sounds a warning on growing

deficits… How perceptive… How prescient … How pathetically
incompetent ... U.S. Banks Hid Risk by Lowering Debt Before
Reporting, WSJ Says - B... The Fed “Owns Credit-Default Swaps …
On Debt Owed by California and Nevada. So the Fed Would Profit If
One of Those States Defaulted on its Debt.” As part of the bailouts of
AIG and Bear Stearns, the Federal Reserve Bank of New York spent
more than $70 billion to buy toxic assets the companies owned.

Go to following pages for above links:

http://www.albertpeia.com/currentopics2ndqtr10108.htm
http://www.albertpeia.com/wallstreetlunacy2ndqtr10108.htm
http://www.albertpeia.com
http://www.albertpeia.com/alresume.htm

gingrich, the Ultimate Hypocrite Calls Banker Puppet Obama “Most Radical
President in American History” Kurt Nimmo | gingrich tells us he is a
historian, and yet his historical context excludes the obvious fact both
parties work for the banksters. ‘Invisible Empire’ exposes a hidden
history the public must learn The Names often Change, but the
Game Remains the Same

Ron Paul: Obama is Not a Socialist, He is a Socialist Corporatist Evan

McMorris-Santoro | “Unfortunately we have corporatists inside the
Republican party and that means you take care of corporations and
corporations take over and run the country.” Tax Audits of Big
Business Are Declining, Study Says New York Times - Despite the
federal government's repeated pledges to crack down on big
businesses that underpay their taxes, the Internal Revenue Service
has decreased in recent years the time it spends auditing the returns
of the nation's ... IRS Audits Small Biz More, Big Guys Less Forbes
IRS Audits Fewer Corporate Taxpayers: Critic ABC News
Murder.gov Becky Akers | Listen to the drums beating the Dead
March as the American Empire chugs into totalitarianism’s next
 terminus: execution of citizens without trial. Corporate Media
Connects Hutaree Members to U.S. Military Kurt Nimmo | Latest
accusation adds ammunition to the ongoing government and
corporate media vilification of patriot and constitutional groups.
Kissinger Effectively Gave Go-Ahead for Terrorist Attack on US Soil in
1976 Jurriaan Maessen | Bilderberger Henry Kissinger rescinded
instructions that would have prevented one of the worst terrorist
attacks on US soil. Cable ties Kissinger to Chile controversy (AP)

Mob Infested new jersey’s Christie blasts teachers union for 'perverse'
memo NorthJersey.com - Leslie Brody, Patricia Alex Governor
Christie on Friday blasted a teachers union memo as “perverse” and
“beyond the pale” for alluding to his death, while union leaders
apologized but contended the controversy had been overblown since
jersey is by definition perverse, beyond the pale, corrupt , obscene,
etc. Christie shows up at LoBiondo fundraiser, so do angry Atlantic
County teachers Press of Atlantic City Unholy NJ death wishers New
York Post

Iran has evidence americans ‘worked for secret services’ Press TV | The
Iranian intelligence minister says Tehran has compelling evidence that
three Americans arrested in Iran last year were cooperating with
intelligence services.

America: The Grim Truth Lance Freeman | You have the worst quality of
life in the developed world – by a wide margin.- Information Clearing House
April 9, 2010

JOE STIGLITZ: U.S. ROOT OF WORLD FINANCIAL CHAOS … “That is a real

risk that U.S. monetary policy, flooding the world with liquidity,
unfortunately very little of it translating into lending in America, is helping
create bubbles all over the world, and creating instability in many other
countries in the world. I think that has not been taken into account fully:
the global cost of these policies.”

Exclusive: Is Goldman Sachs Playing Fair? Of course not! But if you have
to ask the obvious question, then you’re either screwed or a screwer
like them_… Which are you? CBS News

America: The Grim Truth Lance Freeman | You have the worst quality of
life in the developed world – by a wide margin. Information Clearing House
April 9, 2010
The satanic pentagram, the u.s. military pentagon/pentagram, the endless
wars / sacrifices of innocent civilians, women, and children; that
america is the force of evil can no longer be ignored!

The Cover-Ups That Exploded The Pentagon is reeling after two lethal
episodes uncovered by diligent journalism show trigger-happy U.S.
Army helicopter pilots and U.S. Special Forces slaughtering civilians,
then seeking to cover up their crimes.

Russia furious over adopted boy sent back from US, as well they should
be. After all, the adoptive parents were fortunate to have as their child a
product of such a great nation of rich culture and history as Russia and to
say that the boy had mental problems merely was a reflection of the
comparison to the pervasively criminal and mentally ill populace of the u.s.
(there are anthropological explanations for what I term analogous to
adverse selection, an insurance term) he was indeed different, which is a
good thing. (AP)

Go to following pages for above links:

http://www.albertpeia.com/currentopics2ndqtr10108.htm
http://www.albertpeia.com/wallstreetlunacy2ndqtr10108.htm
http://www.albertpeia.com
http://www.albertpeia.com/alresume.htm

No Missing Link Per Se 2-million-year-old fossils may help fill key

gap in human evolution Nine-Year-Old Fossil Hunter Finds New
Species of Human Ancestor - B...

One Day Soon, We’ll All Be “Homegrown Terrorists” Giordano Bruno | It’s
getting so you cannot even talk about this or you get associated as a
possible terrorist or “extremist”. Bush ‘knew Guantánamo
prisoners were innocent’ Times Online | Bush, Dick Cheney and
Donald Rumsfeld covered up that hundreds of innocent men were
sent to the Guantánamo Bay.

israel ranks 6th with up to 300 illegal nukes Analysts for a reputable
military journal have rated israel as the world’s sixth nuclear power,
alongside Britain, with up to 300 nuclear warheads. Canceled
netanayahu trip spotlights israel nukes. So how in light of war criminal
nation israel’s illegal nukes do they justify ganging up on Iran based
upon speculation as to what Iran might do though they deny the
accusations? After all, they don’t have to speculate as to israel’s
illegal nukes The Associated Press Netanyahu cancels trip to
 Obama’s nuclear summit Reuters | He made the decision after
learning Egypt and Turkey intended to raise the issue of israel’s
atomic arsenal at the meeting, a senior government official said on
Friday. Petraeus finally takes the genie out of bottle The taboo was
finally broken and the genie is out of the bottle despite some attempts
to force it back. America’s military leaders have had enough and
decided to speak out about the liability that a hard-line Israel causes
to America’s national interest. Chickening out israeli Premier
benjamin netanayahu’s withdrawal from the upcoming two-day
nuclear security meeting in the US could represent a highly significant
moment in the Middle East affairs. The israelis are giving out that
netanayahu had been warned he would be challenged by the Turkish
and Egyptian delegations over israel’s own undeclared nuclear
arsenal.

DRUDGEREPORT: GALLUP: OBAMA HITS NEW LOW...

Tina Fey mocks Palin -- AGAIN -- on 'SNL'...
Iran to complain to UN over wobama nuclear 'threat'...
READY TO RISE: CONSUMERS FACE END OF CHEAP CREDIT...
Wiki Whistleblowers fear CIA stalkers...

Go to following pages for above links:

http://www.albertpeia.com/currentopics2ndqtr10108.htm
http://www.albertpeia.com/wallstreetlunacy2ndqtr10108.htm
http://www.albertpeia.com
http://www.albertpeia.com/alresume.htm