September 16, 2010 Posts

Business / Economic / Financial
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Leading Economic Indicators Continue to Suggest Return to Contraction Is

Likely
U.S. Economy "Gradually Deteriorating," Levy Says: Recession Likely in

2011
Ten Reasons This Rally Is Ultimately Toast Wachtel ‘Here are 10 reasons
why risk assets (stocks, riskier forex pairs, industrial commodities) have a
very high probability of a pullback very soon.
Technical Indicators: High Risk Of Downturn
The S&P 500 is the best single representative of overall risk appetite. It is
telling us that a pullback is coming very soon. (chart)
1. Coming Bounce Off Of Upper Bollinger Band (standard 2, 20 default
settings):
Once the index starts to pull back from its upper Bollinger band, it usually
pulls back to at least its 50 day SMA, often lower. Since the end of the most
recent rally in late April, this rule has worked flawlessly in both mid-June
and mid-August. The index is now once again at its upper Bollinger Band.
Up Against Multiple Reinforcing Layers Of Strong Resistance Around 1120.
2. Upper Bollinger Band (noted above).
3. 200 day SMA (purple line).
4. 61.8% Fibonacci retracement from the February 2010 low (which has held
up well as support, only violated for a few sessions in July and August).
5. Neckline (red horizontal line around 1125) of the big bearish Head-And-
Shoulders pattern dating all the way back to the beginning of 2010. Left
shoulder in January, head in April, and right shoulder in June.
6. This same resistance at 1125 is reinforced by another bearish chart
pattern- a bearish double top (that may soon become a triple top if the
above indicators prove correct).
7. Recent Rally On Low Volume: The rally that began in late August has
been on very low volume, which suggests lack of conviction and thus less
durability.
Fundamentals Don’t Support A Rally
8. We are heading into the second half of the month, which is lighter on
significant news data than would be needed to justify a push past the
above strong resistance layers
In addition, there is the overwhelmingly bearish fundamental backdrop:
9. US economic slowdown in every meaningful category: housing prices
(where the bear market began), jobs, spending, etc. Even manufacturing,
until recently a rare bright spot, has been slowing since the prior Philly Fed
report.
10. The ongoing and utterly unsolved EU sovereign debt/banking crisis,
with its now periodic eruptions. While we have no major eruptions reported
recently, PIIGS sovereign and bank yields and CDS rates remain at May’s
crisis levels, a clear indication that markets are very nervous and ready to
sell off, as they have over the past weeks on news of Ireland’s latest bank
bailout and a Wall Street Journal article on how the EU bank stress tests
understated PIIGS bond exposure.
As noted in previous posts, support and resistance must be viewed as
zones rather than precise points. The lack of news noted above could allow
for continued quiet drift upward to 1140 or even a bit more.
However, that leaves little room to profit for anyone except very short term
traders. Others should be planning short trades as the S&P and other risk
assets head back down to test support. For the S&P 500 that would be
around 1040 in the near term.
DISCLOSURE & DISCLAIMER: NO POSITIONS, THE ABOVE IS FOR
INFORMATIONAL PURPOSES ONLY AND NOT TO BE CONSTRUED AS
SPECIFIC TRADING ADVICE. RESPONSIBILITY FOR TRADE DECISIONS IS
SOLELY WITH THE READER.’
Philadelphia Manufacturing Index Falls

Foreclosures Rise; Repossessions Set Record CNBC | US foreclosure
activity rose in August from the previous month, and banks and
lenders took ownership from homeowners at a record pace.
Gold Rises to Record on Increased Demand for Wealth Protection

Bloomberg | Gold rose to a record in London and New York as
investors sought protection against turmoil in the global economy and
financial markets. Silver rose to the highest price since March 2008.
Yen hits 15-year high vs dollar Reuters | The dollar hit a 15-year low against
the yen on Tuesday, testing Japanese authorities’ resolve to stem the yen’s
climb after Prime Minister Naoto Kan won a party leadership vote.
Regional Manufacturing Still Deteriorating
Despite Range Trading - Prominent Sell Signals Still Alive Simon Maierhofer,
On Thursday September 16, 2010, 12:35 pm EDT About a month ago, news
about the ominous Hindenburg Omen, terrible September/October and other
prominent sell signals were the big buzz around Wall Street. Has the recent rally
and range bound trading neutralized or even eliminated the bearish
undercurrents? A look at current sentiment would make you think so. Sentiment
surveys show that bullishness has soared and optimists are back in control (see
chart below).But are the optimists generally right? No. In fact, unfounded
optimism is one of the biggest investment traps and most effective bear market
tricks. On April 16, the ETF Profit Strategy Newsletter warned that: 'The message
conveyed by the composite bullishness is unmistakably bearish. Most bulls have
no clue why they are bullish except for the fact that they feel the need to play the
momentum game. Sounds like 2000 and 2007 all over again.' When it comes to
investing, emotions tend to get in the way of making money. It takes an
opportunistic, yet realistic approach to profit in this market.
Parallels Between 2000, 2007, and Today
From a purely analytical point of view, the April ETF Profit Strategy Newsletter
examined the 2000 and 2007 market tops and compared them with the 2010
price action, at a time when optimism was soaring sky-high. The parallels
between the 2000, 2007 and forming 2010 tops were striking, that's why the
newsletter concluded that: 'A comparison between the 2000 and 2007 double
tops to the current constellations shows that the market may roll over at any
time.' Similar to the January/April 2000 and July/October 2007 double tops, the
April 2010 highs were preceded by a lower January top. But the parallels didn't
stop there.
Major Tops Followed by Decoy Rallies
Following the initial 2007 decline, the April, May 2008 rally rekindled new hope
and pushed the major indexes a la Dow Jones (DJI: ^DJI), S&P (SNP: ^GSPC),
and Nasdaq (Nasdaq: ÎXIC) briefly above their 200-day moving average (MA).
Following the initial April 2010 decline, the July/August rally also pushed the S&P
briefly above the 200-day MA. Both, in 2008 and 2010, the indexes were
rebuffed by the 200-day MA. The failure to stay above the 200-day MA in May
2008 was followed by a 53.75% decline in the S&P 500. Former performance
leaders like the Financial Select Sector SPDRs (NYSEArca: XLF - News) and
KBW Bank ETF (NYSEArca: KBE - News) tumbled 79%, the Technology Sector
SPDRs (NYSEArca: XLK - News) dropped 49%. Even conservative sectors such
as utilities (NYSEArca: XLU - News) and healthcare (NYSEArca: XLV - News)
dropped another 35 - 45%. Like a free diver who comes up for air, the market
tends to rally to keep investors engaged before the next leg down. The chart
below - which plots bullish advisor sentiment against the price of the S&P 500
from June 2007 - September 2010, illustrates the market's cruel habit of
spreading hope just before the hammer drops. [chart]
It Happened Before
Since we are talking about prior market tops, we can't help but mention the
mother of all sucker rallies, which occurred in 1929/1930. Following the initial
1929 meltdown, the 1930 rally recouped 50% of the previously lost points.
Ironically, the 1930 rally ended on April 16. The 2010 counter trend rally ran its
course on April 26. In addition to a near identical termination date, the two rallies
rekindled the same kind of bullish sentiment. Below are a few headlines and
statement from April 1930. Keep in mind that the Dow went on to decline more
than 80% thereafter. 'For the immediate future, the outlook is bright' - Irving
Fisher, Ph. D. in Economics 'I see nothing in the present situation that is either
menacing or warrants pessimism.' - Andrew W. Mellon, U. S. Secretary of the
Treasury 'The depression is over' - Herbert Hoover, President If you escaped the
market in time, you might be able to read the following April 2010 headlines with
a fair shot of humor and realize the irony: 'As job worries ease, will anything stop
the stock market?' – CNBC 'Dow 11,000 is only the beginning' - Wall Street
Journal 'Check the real estate: It is time to delve in' - Wall Street Journal
It Happened Recently
It's easy to dismiss any parallels to the Great Depression simply because it
happened 80 years ago. However, an 80% drop is nothing unusual and has been
seen recently. The Nasdaq (Nasdaq: QQQQ - News) peaked in 2000 and
tumbled 78.4% within less than two years. Much evidence suggests that the
Nasdaq's woes are not yet over with more losses and lower lows on the horizon.
Oil prices tumbled 77% after topping at $147.3 a barrel in 2008. Both, the
Nasdaq and oil prices topped at a time when higher prices were a foregone
conclusion. With regards to oil, the expectation for higher fuel prices moved all
major car manufacturers to advertise and build low MPG cars. As soon as their
commercials hit TVs, radios, and newspapers across the country, oil and fuel
prices started to drop like a rock. Some still dismiss those declines as sector
bubbles, not broad market declines.
It Happened to an Entire Country
The Nikkei is Japan's version of the S&P 500 and covers hundreds of stocks. In
1989, the Nikkei topped at 38,946. Since then, it has dropped over 80% to below
8,000 (see chart below, published in the April 2010 ETF Profit Strategy
Newsletter). [chart] Throughout this 20-year decline, the Nikkei had eleven rallies
of 20% or more and four that were 50% or more. In total, the Nikkei rallied well
over 250,000 rally points, yet it remains 76% below its 1989 peak. The decline of
Japan's stock market (NYSEArca: EWJ - News) and economy happened amidst
a global bull market. Imagine what can happen to the U.S. stock market during a
global recession spurred by European (NYSEArca: FEZ - News) debt woes and
global stock market (NYSEArca: EFA - News) weakness. It's human nature to
rationalize and invent reasons why something can't happen. It's the stock
market's nature to prove investors wrong. Based on parallels that aren't
farfetched by any means, a follow through of the post 2007 U.S. equity meltdown
is more than just a possibility.
Fundamentals, Technicals, Valuations, and History in Agreement
Investing is about putting the odds in your favor. There is no such thing as a
100% certain profit opportunity. However, there are high probability profit
opportunities where the odds of having a winning trade are high and the potential
reward is much higher than the potential risk. Such high probability profit
opportunities occur when as many indicators as possible point in the same
direction. Right now, there is a near unanimous consent between fundamental
and technical indicators, along with valuations and historic patterns. The latest
ETF Profit Strategy Newsletter includes a detailed analysis of various market
forecasting tools, along with a short, mid, and long-term outlook for the U.S.
stock market and a target range for the ultimate market bottom. Even though the
economic outlook is dim, realistic investors can feel optimistic about the
opportunities in the months and years ahead.
Census Reveals 45m Americans Living in Poverty One in seven Americans

is living below the poverty line, it was revealed yesterday. With 45mn
Americans officially designated as poor, the US census figures reflect
the worst decline in living standards for more than half a century.
Gold to Surge 50% to ‘Real’ Record? Gold’s resilient trend higher to a

record this week has reassured gold bugs and new investors (see
ETFs) alike that the metal’s secular bull market is intact and could
ultimately approach its inflation-adjusted peak of $1901 in 1980.
Fed Issues More Debt Than It Needs On Friday, September 10, 2010,
Horizon Bank, Bradenton, FL was closed by the Florida Office of
Financial Regulation and the Federal Deposit Insurance Corporation
(FDIC) was named Receiver. No advance notice is given to the public
when a financial institution is closed.
August Foreclosures Highest on Record RealtyTrac, an online foreclosure

sale site, will release its monthly numbers on Thursday, but sources there
confirm the number of repossessions will come in just shy of 100,000 for
the month.
Stock Market Goes Into A Coma: Here's What You Need To Know
Weisenthal ‘Snooze. Fest. But first, the scoreboard;
Dow: +22.75
NASDAQ: +1.83
S&P 500: -044
And now, the top stories:
• Well, there really wasn't very much. Asia was quiet, though China is
ominously breaking down. India did do a surprise rate hike.
• Europe: quiet.
• In the US, the big news was the jobless claims at 8:30 which were
better than expected, the Philly Fed, which was worse than expected,
and the PPI, which was hotter than expected. None of those releases
move the market very much at all.
• There was also nothing real big on the macro front. No gigantic
currency movies in one way or another.
• Volume was very light, and when you combine it with CNBC running
its special on high-frequency trading, you gotta figure we're nearing
a peak in terms of lack of activity.’
(9-16-10) Dow 10,595 +22 Nasdaq 2,303 +2 S&P 500 1,125 -1 [CLOSE-
OIL $74.57 (-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 $1,274 (+24% for year 2009) /
SILVER $20.74 (+47% for year 2009) PLATINUM $1,608 (+56% for year 2009)
/ DOLLAR= .76 EURO, 85 YEN, .63 POUND STERLING, ETC. (How low can
you go - LOWER)/ 10 YR NOTE YIELD 2.76% …..… 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!
Eco-Fascists Call For Tyranny To Enforce Draconian Agenda Paul Joseph

Watson | The ugly face of eugenics peers from behind the mask of
environmentalism.
Gold And Silver Hit New Highs For Second Time In One Week Steve
Watson | Gold and Silver have once again risen to new highs, with
bullion futures soaring close to a record $1,280 an ounce as the dollar
fell to a five week low against the euro.
Globalist Foundation Exploits Angry Child to Blame Adults for Fake

Climate Change Kurt Nimmo | Boy donning a gangbanger hoodie
warns that adults have had their chance to save the earth and now it
will be the responsibility of the next generation.
Protest Group Demands Investigation Into Homeland Security Spying Paul
Joseph Watson | Latest case follows multi-year trend of authorities
being trained to treat peaceful, patriotic Americans as domestic
terrorists.
O’Reilly (bill the perve) Says 9/11 Truth Activists Are Dangerous Radicals
Kurt Nimmo | Links Muslim scholar and first responder to Ground
Zero imam Feisal Abdul Rauf.
White House Science Czar Says He Would Use ‘Free Market’ to ‘De-Develop
the United States’ In a video interview this week, White House Office
of Science and Technology Director John P. Holdren told
CNSNews.com that he would use the “free market economy” to
implement the “massive campaign” he advocated along with
Population Bomb author Paul Ehrlich to “de-develop the United
States.”
Shock Audio: DC Congresswoman Leaves Voicemail Asking For Lobbyist

Cash Delegate to Congress for the District of Columbia Rep. Eleanor
Holmes Norton leaves voice mail citing her seniority and stimulus-
based projects in lobbyist’s “sector”.
U.S. urges Arab states to drop israel nuclear treaty demand Reuters
[ Oooooh! Wow! Sounds like a plan! For world conflagration … Another
step toward nuclear prone middle east … israel should be exempt because
….. ‘US – Israel’s partner in crime, not a referee’ … You really can’t make
this stuff up; the preposterous s*** coming out of america! ]The U.S. envoy
to the UN atomic watchdog urged Arab states to withdraw a resolution
calling on Israel to sign an anti-nuclear arms treaty, warning it would send
a negative signal to Middle East peace talks. Israelis, Palestinians
already broaching tough topics in talks, envoy says (Washington Post) ‘US
– Israel’s partner in crime, not a referee’ (Infowars.com) Israeli and
Palestinian leaders are holding a new round of direct talks. Bombshell:
Barack Obama conclusively outed as CIA creation Wayne Madsen |
Investigative journalist Wayne Madsen has discovered CIA files that
document the agency’s connections to the lives of Barack Obama and his
mother, father, grandmother, and stepfather.
O'Donnell's win throws a challenge at the GOP (Washington Post) [ Aw

shucks! Change just around the corner say the bipartisan incumbents…
change afoot, like wobama’s foot in his mouth / a** change … Let’s get real
… no real change is a-coming … but ‘hopium’ (previously discussed) is a
powerfully addictive drug. Let’s all awake from this hopium induced stupor
and read these government frauds the riot act! Defacto bankrupt american
politics are getting downright nasty (AP). Ask nancy pelosi, ‘the wicked
witch of the west’ ( only a minute, this political ad by John Dennis is well
done and very funny)
http://albertpeia.com/nancypelosiwickedwitchofthewest.flv . ] By beating
their candidate for the Senate seat in Delaware, the tea party sends a
message to the Republican establishment: You are not in charge.
Frustration with GOP pushed win O'Donnell's win in the Delaware Senate
primary reflects voter sentiment toward party elders.
Fed faces tough choices (Washington Post) [ Wow! Mr. ‘wall street-glass-
half-full’ has in a phrase ended the financial crisis, though many sure
have been fooled into thinking otherwise by that thing called reality …
Yes, ‘no-recession helicopter ben b.s. bernanke’ also in a phrase must
decide, ‘to print, or not to print much, or much much, or much much
much, etc., more worthless Weimar currency colloquially known as
the american dollaro. Well, we really know where that one’s going.
Shocking CNBC Headline: “Home Price Double Dip Begins” Diana
Olick, by far the best reporter at CNBC, and not merely an anchored
regurgitator of propaganda bullet points, let one slip today, by posting
an article on CNBC titled: “Home Price Double Dip Begins”. Are poll
workers being used to inflate jobs totals? Workers at polling places
for today’s primary and November’s general election are being
required to file tax withholding forms for the first time ever in a move
that could be aimed at inflating the nation’s employment numbers. ]
Agency is facing its biggest decision since the end of the financial
crisis, confronting a fateful choice this fall whether to take new steps
to boost the economy.
U.S. sharpens criticism of China (Washington Post) [ Riiiiight, tiny tim …
blame the Chinese for your failed policies, though not exclusively
your failed policies … might be good for a 1/32 point shaved from the
interest on the gargantuan debt defacto bankrupt america owes them
which is still many billons over time so large is the debt. ]Treasury
Secretary Tiny TimGeithner signals a tougher line toward China's
economic policies, saying that he plans to persuade China to change
how it manages its currency and to treat U.S. businesses more fairly.
Stocks' rise defies record (Washington Post) [ Oh come on! The record’s
not all that’s being defied; try reason, rationality, etc.. Underestimating the
Risks of the Stock Market Keep in mind, this is an election year and as
good as it gets, as bad as it is beyond the spun / fake market-frothing
data ] [Babak ‘If you spend enough time trading and studying the markets
you realize viscerally that markets tend to fall and fall hard much more than
they rise. We got a very good example of this in the 2008 bear market
where the S&P 500 index gave back in about 18 months all the gains that
had taken it almost 5 years to accumulate (March 2003 to October 2007).
The theoretical framework that many people use and that which is still
taught in finance classes across the globe continues to assume that
returns fall into a normal distribution. While it is useful to know that
modern portfolio theory and EMH are flimsy theories with no real world
applications, it doesn’t help us to recalibrate our instruments to just how
asymmetrical stock returns really are. To get at that answer, the research
team at Welton Investments compared the actual distribution of returns
from the S&P 500 index over the past 50 years with the expected risk based
on a Monte Carlo simulation. The results are shown in the chart below:
[ chart Source: Tail Risk ] This study shows that investors continuously
and severely underestimated negative returns. In fact, going by rolling
quarterly losses of 20% or more, investors experienced 5.3 times more of
these “fat tail” events than that accounted for by the expectations based on
a normal distribution. That difference is huge! Knowing this historical
reality, investors have two choices: either don’t play the game (get out of
stocks) or play but have a safety net handy for the inevitable fall …’ ]
Defying September's track record of being unkind to investors, the stock
market has shot up for the past two weeks as investors have grown less
fearful the economy will slip into another recession.
O'Donnell's win throws a challenge at the GOP (Washington Post) [ Aw
shucks! Change just around the corner say the bipartisan incumbents…
change afoot, like wobama’s foot in his mouth / a** change … Let’s get real
… no real change is a-coming … but ‘hopium’ (previously discussed) is a
powerfully addictive drug. Let’s all awake from this hopium induced stupor
and read these government frauds the riot act! Defacto bankrupt american
politics are getting downright nasty (AP). Ask nancy pelosi, ‘the wicked
witch of the west’ ( only a minute, this political ad by John Dennis is well
done and very funny)
http://albertpeia.com/nancypelosiwickedwitchofthewest.flv . ] By beating
their candidate for the Senate seat in Delaware, the tea party sends a
message to the Republican establishment: You are not in charge.
Frustration with GOP pushed win O'Donnell's win in the Delaware Senate
primary reflects voter sentiment toward party elders.
Fed faces tough choices (Washington Post) [ Wow! Mr. ‘wall street-glass-
half-full’ has in a phrase ended the financial crisis, though many sure
have been fooled into thinking otherwise by that thing called reality …
Yes, ‘no-recession helicopter ben b.s. bernanke’ also in a phrase must
decide, ‘to print, or not to print much, or much much, or much much
much, etc., more worthless Weimar currency colloquially known as
the american dollaro. Well, we really know where that one’s going.
an article on CNBC titled: “Home Price Double Dip Begins”. Are poll
workers being used to inflate jobs totals? Workers at polling places
for today’s primary and November’s general election are being
that could be aimed at inflating the nation’s employment numbers. ]
Agency is facing its biggest decision since the end of the financial
crisis, confronting a fateful choice this fall whether to take new steps
to boost the economy.
U.S. sharpens criticism of China (Washington Post) [ Riiiiight, tiny tim …
blame the Chinese for your failed policies, though not exclusively
your failed policies … might be good for a 1/32 point shaved from the
interest on the gargantuan debt defacto bankrupt america owes them
which is still many billons over time so large is the debt. ]Treasury
Secretary Tiny TimGeithner signals a tougher line toward China's
economic policies, saying that he plans to persuade China to change
how it manages its currency and to treat U.S. businesses more fairly.
Stocks' rise defies record (Washington Post) [ Oh come on! The record’s
not all that’s being defied; try reason, rationality, etc.. Underestimating the
Risks of the Stock Market Keep in mind, this is an election year and as
good as it gets, as bad as it is beyond the spun / fake market-frothing
data ] [Babak ‘If you spend enough time trading and studying the markets
you realize viscerally that markets tend to fall and fall hard much more than
they rise. We got a very good example of this in the 2008 bear market
where the S&P 500 index gave back in about 18 months all the gains that
had taken it almost 5 years to accumulate (March 2003 to October 2007).
The theoretical framework that many people use and that which is still
taught in finance classes across the globe continues to assume that
returns fall into a normal distribution. While it is useful to know that
modern portfolio theory and EMH are flimsy theories with no real world
applications, it doesn’t help us to recalibrate our instruments to just how
asymmetrical stock returns really are. To get at that answer, the research
team at Welton Investments compared the actual distribution of returns
from the S&P 500 index over the past 50 years with the expected risk based
on a Monte Carlo simulation. The results are shown in the chart below:
[ chart Source: Tail Risk ] This study shows that investors continuously
and severely underestimated negative returns. In fact, going by rolling
quarterly losses of 20% or more, investors experienced 5.3 times more of
these “fat tail” events than that accounted for by the expectations based on
a normal distribution. That difference is huge! Knowing this historical
reality, investors have two choices: either don’t play the game (get out of
stocks) or play but have a safety net handy for the inevitable fall …’ ]
Defying September's track record of being unkind to investors, the stock
market has shot up for the past two weeks as investors have grown less
fearful the economy will slip into another recession.
Israelis, Palestinians already broaching tough topics in talks, envoy says
(Washington Post) ‘US – Israel’s partner in crime, not a referee’
(Infowars.com) Israeli and Palestinian leaders are holding a new round
of direct talks. Bombshell: Barack Obama conclusively outed as CIA
creation Wayne Madsen | Investigative journalist Wayne Madsen has
discovered CIA files that document the agency’s connections to the
lives of Barack Obama and his mother, father, grandmother, and
stepfather.
Where Are The Jobs? Most Americans don’t really care about the economic
minutiae that many of us who study the U.S. economy love to pour
over.
‘US – Israel’s partner in crime, not a referee’ Israeli and Palestinian leaders
are holding a new round of direct talks.
Justice Breyer Suggests “Globalization” Trumps First Amendment

Supreme Court Associate Justice Stephen Breyer was indecisive
when answering a question about whether or not Pastor Terry Jones’
proposed Koran burning was protected by free speech, suggesting
that “globalization” now trumps the First Amendment in the eyes of
lawmakers.
Let’s Raise Taxes, Greenspan Tells CFR “I am in favor for the first time in
my memory [What memory? Incompetent greenspun is senile! ] of
raising taxes,” Greenspan told an audience at the Council on Foreign
Relations in New York.
Government Bans Tea Party From Celebrating U.S. Constitution Local
government representatives in an Ohio town have taken it upon themselves to
prohibit a Tea Party celebration of the US Constitution, prompting a lawsuit over
restrictions on First Amendment rights.
Empire State Manufacturing Falls in September
Technical Resistance: Here We Go Again Hui ‘…The odds seem to favor

another downleg for a couple of reasons.
First of all, investor sentiment has gotten incredibly bullish in the space of a
couple of weeks, which is contrarian bearish.
More important for the intermediate term, the market is facing a number of macro
headwinds of economic weakness starting in 4Q. John Hussman noted in his
latest weekly comment [emphasis added]: As I've noted frequently in recent
commentaries, the typical lag between deterioration in say, the ECRI Weekly
Leading Index and the ISM Purchasing Managers Index is about 13 weeks, and
sometimes longer. The typical lag with respect to new claims for unemployment
is about 23-26 weeks (which puts the likely window of deterioration at about
the October - November time frame), and the typical lag with respect to the
payroll unemployment report is, not surprisingly, about 4 weeks beyond that.
Uber-bear Albert Edwards put it more bluntly:The current situation reminds me
of mid 2007. Investors then were content to stick their heads into very deep sand
and ignore the fact that The Great Unwind had clearly begun. But in August and
September 2007, even though the wheels were clearly falling off the global
economy, the S&P still managed to rally 15%! The recent reaction to data
suggests the market is in a similar deluded state of mind. Yet again, equity
investors refuse to accept they are now locked in a Vulcan death grip and are
about to fall unconscious…’
The Dow Is Overbought on Its Daily Chart

To Dip or Double-Dip? Janjigian There has been a lot of talk lately about
whether or not we will have a double-dip recession. I have long been in the
camp that says a double-dip is a real possibility. I believe the probability for
a second recession is higher now than it was last March. But how does one
actually assign a number to this probability? The economists Nouriel
Roubini and Martin Feldstein are perhaps the most bearish on the
economy. They say the chances of a second recession are about one in
three. This means they believe that if the economy were to experience the
same exact conditions it is experiencing now hundreds of times, one-third
of those times would result in a recession. Another way to look at is that
the probability that we will not have a second recession is about 67%. In
other words, even the most bearish economists believe there is a much
better chance that we will avoid a second recession than there is that we
will actually have one … [ Hey, come on! If they only were the most bearish
on the economy … Economists Herald New Great Depression The world is
currently experiencing the modern day equivalent of the Great Depression,
according to a prominent economist who has added his voice to scores of
others now forecasting ongoing economic doom on a scale not seen since
the 1930s.) , and my position and that of demographer Dent (This is a
global depression. This is a secular bear market in a global depression.
The past up move was a manipulated bull (s***) cycle in a secular bear
market. This has been a typically manipulated bubble as has preceded the
prior crashes with great regularity that the wall street frauds and insiders
commission and sell into. This is a typical wall street churn and earn pass
the hot potato scam / fraud as in prior crashes’. This national decline,
economic and otherwise, will not end until justice is served and the wall
street frauds et als are criminally prosecuted, jailed, fined, and
disgorgement imposed. Krugman: It's All Downhill From Here Cullen
Roche Love him or hate him Paul Krugman has been awfully right with
regards to the macro picture in the last few years. He’s one of the rare
economists who had the foresight to see the housing bubble and the
likelihood of economic downturn that would result from it. Krugman
recently caused a stir when he said the US economy was headed for the
third depression. He isn’t back down from that outlook:
I’ve had a couple of conversations lately with people who

follow politics and public affairs, but aren’t that close to the
economic discussion — and I’ve discovered that there are two
comforting delusions still out there.
Delusion #1 is that we’re on the road to recovery, just more

slowly than we’d like; to be fair, the White House keeps saying
this.
But it’s not at all true. GDP is growing below potential;

employment, even if you focus just on private employment, is
growing more slowly than the working-age population. If you
ask how long it will take us to return to, say, 5 percent
unemployment on the current track, the answer is forever.
Delusion #2 is the belief that the stimulus may yet do the trick,
because there are still substantial funds unspent. I tried to
deal with this last year. The level of GDP depends not on total
funds spent, but on the rate at which funds are being spent,
which has already peaked; GDP growth on the rate of change
in the rate at which funds are being spent, which peaked last
year. It’s all downhill from here.
If you can ignore the schizophrenic market for just a second it’s hard to
reject Krugman’s macro outlook. The private sector has been running
on fumes since the debt bubble burst in 2007. The government’s
extraordinary actions helped bolster the economy, but merely papered
over what was a very weak private sector. As we see the government
step aside it’s difficult to imagine that the weakness at the private
sector won’t again be exposed for what it really is.
Here Are 13 Signs That We’re Actually In A Depression Right Now
Gregory White | David Rosenberg has outlined, in his latest letter, the
13 reasons with this so-called recovery is actually a depression…
David Rosenberg has outlined, in his latest letter, the 13 reasons with
this so-called recovery is actually a depression.Rosenberg sums it up
like this:
This is what a depression is all about — an economy that 33 months after a

recession begins, with zero policy rates, a stuffed central bank sheet,
and a 10% deficit-to-GDP ratio, is still in need of government help for
its sustenance.
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). ]
To Dip or Double-Dip? Janjigian There has been a lot of talk lately about
whether or not we will have a double-dip recession. I have long been in the
camp that says a double-dip is a real possibility. I believe the probability for
a second recession is higher now than it was last March.
Economists Herald New Great Depression The world is currently

experiencing the modern day equivalent of the Great Depression,
disgorgement imposed. Krugman: It's All Downhill From Here Cullen
Roche Love him or hate him Paul Krugman has been awfully right with
regards to the macro picture in the last few years. He’s one of the rare
economists who had the foresight to see the housing bubble and the
likelihood of economic downturn that would result from it. Krugman
recently caused a stir when he said the US economy was headed for the
third depression. He isn’t back down from that outlook
Industrial output growth slows (Reuters) WASHINGTON (Reuters) – ‘U.S.

industrial output slowed last month and a regional measure of factory
activity touched a 14-month low in September, pointing to a cooling in
manufacturing as the boost from an inventory build-up fades. The reports
on Wednesday were consistent with other data suggesting the U.S.
economy is stuck in a soft spot, but they also showed the manufacturing
sector continued to expand and offered nothing to suggest a new
recession was brewing. "We have a sharp slowdown, but that doesn't look
like it's going to develop into an outright collapse," said Paul Ashworth,
senior U.S. economist at Capital Economics in Toronto. Industrial
production rose 0.2 percent in August, Federal Reserve data showed,
matching economists' forecasts for a sharp slowdown from July when
unusually strong auto manufacturing lifted output. July's gain was revised
down to 0.6 percent from 1 percent …’
the yen on Tuesday, testing Japanese authorities’ resolve to stem the
yen’s climb after Prime Minister Naoto Kan won a party leadership
vote.
Six in 10 Canadians live pay to pay Globe and Mail | Fifty-nine per cent of
Canadian workers say they would be in financial trouble if their
paycheque was delayed by just a week.
IMF fears ‘social explosion’ from world jobs crisis Telegraph | America and
Europe face the worst jobs crisis since the 1930s and risk “an
explosion of social unrest” unless they tread carefully, the
International Monetary Fund has warned.

an article on CNBC titled: “Home Price Double Dip Begins”.
Are poll workers being used to inflate jobs totals? Workers at polling
places for today’s primary and November’s general election are being
that could be aimed at inflating the nation’s employment numbers.
Currency Intervention, Bitches After a six year wait, the BoJ has finally had
enough of the Federal Reserve’s endless manipulation and has itself
intervened in the currency market.
Where Are The Jobs? Most Americans don’t really care about the economic
minutiae that many of us who study the U.S. economy love to pour
over.
‘US – Israel’s partner in crime, not a referee’ Israeli and Palestinian leaders
are holding a new round of direct talks.
Defacto bankrupt american politics are getting downright nasty. Ask nancy
pelosi, ‘the wicked witch of the west’
http://albertpeia.com/nancypelosiwickedwitchofthewest.flv .
Justice Breyer Suggests “Globalization” Trumps First Amendment

Supreme Court Associate Justice Stephen Breyer was indecisive
when answering a question about whether or not Pastor Terry Jones’
proposed Koran burning was protected by free speech, suggesting
that “globalization” now trumps the First Amendment in the eyes of
lawmakers.
Let’s Raise Taxes, Greenspan Tells CFR “I am in favor for the first time in
my memory [What memory? Incompetent greenspun is senile! ] of
raising taxes,” Greenspan told an audience at the Council on Foreign
Relations in New York.
Government Bans Tea Party From Celebrating U.S. Constitution Local

government representatives in an Ohio town have taken it upon
themselves to prohibit a Tea Party celebration of the US Constitution,
prompting a lawsuit over restrictions on First Amendment rights.
Globalist Soros Declares “Gold Is The Ultimate Bubble”… Again Billionaire

globalist George Soros wants you to think that investing in Gold is
“unsafe” and that the rallies the precious metal has seen in the wake
of the economic implosion are abnormal.
Police Continue to Harass Citizens Who Record Them A number of cases
show how police continue to misunderstand citizens’ rights to record
their behavior, and they’re now neatly compiled into a video from the
Cato Institute.
Anti-Establishment Fervor A Hammer Blow To Washington Elite Amidst the

defeat two more establishment Republicans by Tea Party candidates
last night, a new Rasmussen poll shows that anti-incumbent
challenger Sharron Angle is now tied with Democratic Senate Majority
Leader Harry Reid, and stands a good chance of ousting him in
November, which would represent a massive blow to the Washington
elite.
Karl Rove: Defender of Forever War and a Devastating National Debt Kurt
Nimmo | Rove loathes Christine O’Donnell because she represents
political change in Washington — and that must be halted at all cost.
Secretive Executive Order Establishes ‘Big Brother’ Health Bureaucracy

Eric Blair | Obama quietly signed an Executive Order that some claim
lays the foundation for implementing Codex Alimentarius.
Bill Gates Death Panels Tip of Iceberg Paul Joseph Watson, Kurt Nimmo &
Alex Jones | Gates in cahoots with the Rockefellers and the bioethics
movement to deny health care to Americans.
Anti-Establishment Fervor A Hammer Blow To Washington Elite Paul

Joseph Watson | Waiting for an October surprise: The system is
cornered, desperate, and dangerous.
Pennsylvania Homeland Security Puts Anti-tax Protesters On List of Terror

Threats Kurt Nimmo | Pennsylvania’s Democrat governor Ed Renell
says he is “deeply embarrassed” by the disclosure.
Drudgereport: Doomsday warnings of US apocalypse gain ground...
US poverty on track to post record gain under Obama...
Last minute aid helps city dodge default...
NYC Disaster On Primary Day; Machine Glitches Cause Chaos...
Bloomberg Blasts...
Feds probing...
US troops continue combat missions in Iraq, despite Obama's end-of-war
speech...
Poll workers being used to inflate jobs totals?
Retirement on Hold: American Workers $6 Trillion Short...
REPUBLICAN ACCUSES WHITE HOUSE OF 'CLASS WARFARE'...
Paul says GOP shares blame for deficits...
Kerry flip-flops on tax cuts...
Muslims protest Quran-burning plan...
Florida pastor calls it off...
Christians rip pages from Muslim holy book in front of White House...
Man ignites Quran near Ground Zero...
VIDEO...
Mosque opponents, supporters face off in downtown NYC...
OBAMA: 'We are not and never will be at war with Islam'...
'Tea party' favorites score in DE, NY...
Establishment Freaks...
'One nation under revolt'...
Christine Smacks Rove: 'So-Called Political Guru'...
CASH POURS IN FOR O'DONNELL; $500,000 IN ONE DAY...
Upsets...
RESULTS...
WIRE...
IN: RANGEL SURVIVES CHALLENGE...
OUT: DC MAYOR VOTED DOWN IN UPSET...
HANGING: DINGELL WARNS DONORS HE COULD LOSE...
Dems gamble by shifting fire to Boehner...
Bill Clinton: New-look GOP makes Bush look liberal!
POLL: Only 25% of public trusts gov't...
The Crash, Obama and Disappearing Dem Majority...
Jobless strain Social Security's disability program (Washington Post)
[ Jobless? Strain? Disability? If only that were the only problem for the
debacle that will be called ‘social security’. Indeed, even at full
employment, those worthless iou’s will still be worthless as this typical
capital hill political math project will eventually, as with ponzi schemes
generally, end very badly. ]
More banks missing TARP dividend payments [ Isn’t it true as never before
in the short history of defacto bankrupt america, that nothing succeeds in
america quite like a lack of success? ] Bank Failure Friday Continues at
Seeking Alpha ‘…Bank Failure Friday continues with the total number of
failures for 2010 now up to 119 on the way to 150 to 200, as the third
quarter total ended September 10th at 33. During “The Great Credit
Crunch” the FDIC only closed 25 banks during all of 2008. In 2009 the FDIC
picked up the pace with 140 bank failures with a peak of 50 in the third
quarter of 2009. So far in 2010 the FDIC closed 41 banks in the first quarter,
another 45 in the second quarter, and so far 33 for the third quarter. With
119 bank failures so far in 2010 the total for “The Great Credit Crunch” is
up to 284 continuing its path to my predicted 500 to 800 by the end of 2012
into 2013 …]
Pearlstein: A bold new breed of bank regulators (Washington Post) [ Wow!

Gee! I had always viewed Mr. Pearlstein as a grounded kind of guy. You
know … somewhat realistic … I guess I was wrong ‘cause who’s kidding
whom? Criminal prosecutions, jail, fines, and disgorgement are the only
way to maximize regulatory effectiveness, presently and prospectively. As
of now, it pays for the predisposed frauds to take what currently is
miniscule chance of prosecution for what have been and remain huge
personal and corporate gains. Handcuffs For Wall Street, Not Happy Talk
Zach Carter | The fraud allegations that have emerged over the past year are
not restricted to a few bad apples at shady companies — they involve some
of the largest players in global finance. Finance groups: Long transition to
ease new bank rules (Washington Post) [ Basel’s all the rage … Riiiiight!
Bonkers for Basel, the thing in rally vogue this day … but, not Basil as in
Basil Rathbone of super sleuth Sherlock Holmes film fame who’d make
short shrift of this fraudulent wall street contagion that has swept over
Europe in a manner to rightfully earn the moniker ‘eventual black Friday
plague’ … and then there’s the ‘higher oil price’ part of the suckers’ rally.
We can certainly expect Rosanne Rosanna Danna formerly of SNL fame, as
night follows the day, to chime in with a reminder as her mama always
used to say, ‘it’s always something’ … but unfortunately, that somethin’ is
not reality. YAHOO [BRIEFING.COM]: ‘Broad-based buying on the back of
Basel III boosted stocks to their fourth straight gain, or seventh advance in
eight sessions. Still, participation remained unimpressive ... ‘ AP Business
Highlights ‘… Banks get years to adjust to new global rules BASEL,
Switzerland (AP) -- Bankers and analysts said new global rules could mean
less money available to lend to businesses and consumers, but praised a
decision to leave plenty of time -- until 2019 -- before the financial stability
requirements come into full force’ ] The requirements adopted by the Basel
Committee on Banking Supervision fall short of what's needed to prevent
another financial crisis. ]
Asian sites' protection urged to save tigers (Washington Post) [ This is

clearly a noble task of the highest order that will effect returns
manyfold in the most positive sense for this increasing small and
troubled world. ] Just 42 sites across Asia, ranging from temperate
forests to tropical grasslands, are key to the survival of one of the
world's most iconic, and feared, wild cats - the tiger.
Buried Alive - Prominent Sell Signals
Is the Stock Market Safe? [ This time the consensus is correct, in a ‘fish in
a barrel’ kind of way! ]‘In a word, no. That’s the general consensus found
in a survey of individual investors done by AP and CNBC this week. As if
dealing with two major bear markets since the turn of the century wasn’t
enough, all the talk about high frequency trading and the May 6th "Flash
Crash" seems to have pushed individual investors over the edge in terms
of their comfort level with the stock market. In fact, according to an
AP/CNBC poll, 55% of those surveyed believe the stock market is fair only
to some investors. The bottom line of this particular survey is that
investors are now wary about the idea of using the stock market as a way
to invest for retirement. Instead, the survey found that the vast majority of
individual investors continue to pump unprecedented amounts of money
into what many believe is the most overvalued asset class on the planet –
government bonds. One result of the 10-plus year secular bear market in
stocks is the gradual erosion of the public’s interest and confidence in
stocks as an investment. Of course this HAS happened before. Anyone
recall the 1982 cover of Time magazine with the title “The Death of
Equities?” Although the cyclical bull market that began in March 2009
remains intact, the public has been pulling money out of the market on a
monthly basis. Since January 2008, the Investment Company Institute
reports that a total of $244 billion has been withdrawn from US equity
funds. Yet at the same time, a total of more than $589 billion has poured
into US bond mutual funds, which is an unparalleled amount. It appears
that the "Flash Crash" may have been the straw that broke the camel’s
back. For example, in the 11 weeks prior to May 6th the public pumped a
strong $26.6 billion into equity mutual funds. This is hardly surprising
since during that time the market was rising steadily and had gained more
than 70% in the past 12 months. However, in the 16 weeks since the "Flash
Crash," investors have been running scared. In fact, Investment Company
Institute reports that the public has pulled money out of US equity funds
each and every week since, with cumulative withdrawals now totaling $55.9
billion. Thus, it would appear that the market’s recent volatility has caused
the investing public to lose confidence in the market. The AP/CNBC poll
found that 61% of those surveyed felt the volatility has made them less
confident about buying and selling stocks. There is also a widespread
perception is that the market is rigged or unfair to the little guy. Nearly 90%
of the survey respondents whose portfolios are less than $50,000 said the
market is unfair to small investors. In addition, the public doesn’t seem to
have much faith in the administration to fix the situation in the market. The
poll found that just 8% expressed strong confidence in federal regulators
while 50% expressed little-to-no confidence in those tasked with
overseeing the markets. Does this mean it is time to give up on the stock
market as an investment vehicle? We would respond with a resounding
“no!” The trick is to understand that the game has changed. After an 18-
year bull market, the tide has turned. As such, investors actually have to do
something besides putting money into any old mutual fund and closing
their eyes. Disclosure: No positions’
Handcuffs For Wall Street, Not Happy Talk Zach Carter | The fraud
allegations that have emerged over the past year are not restricted to a few
bad apples at shady companies — they involve some of the largest players
in global finance.
Hatzius: The Risks Are Still to the Downside

the yen on Tuesday, testing Japanese authorities’ resolve to stem the
yen’s climb after Prime Minister Naoto Kan won a party leadership
vote.
Six in 10 Canadians live pay to pay Globe and Mail | Fifty-nine per cent of
Canadian workers say they would be in financial trouble if their
paycheque was delayed by just a week.
IMF fears ‘social explosion’ from world jobs crisis Telegraph | America and
Europe face the worst jobs crisis since the 1930s and risk “an
explosion of social unrest” unless they tread carefully, the
International Monetary Fund has warned.
‘The Great American Stickup’: It Was The Economy, Stupid It is not

conspiratorial but rather accurate to suggest that blame can be
assigned to those who consciously developed and implemented a
policy of radical financial deregulation that led to a global recession.
John Williams Sees The Onset Of Hyperinflation In As Little As 6 To 9

Months As Fed “Tap Dances On A Land Mine” John Williams,
arguably one of the best trackers of real, unmanipulated government
data via his Shadow Stats blog, has just released a note to clients in
which he warns that hyperinflation may hit as soon as 6 to 9 months
from today.
Will the Basel III Bank Regulations Change Anything? The much-trumpeted
Basel III increase in capital requirements will not be fully phased in
until 2019.
Three Powerful Trends Will Push Gold Prices To $1600 UniCredit has
upgraded their target price for gold from $1,250 to $1,600 by the end
of 2012. The reason for the upgrade is based on three powerful trends:
the fear over “money printing” at the Fed (QE), the idea that the Euro
sovereign debt crisis represents a condemnation of fiat money and
increasing demand for gold from China.
The Real Story Behind Bill Gates And “Death Panels” Bill Gates’ advocacy
for “death panels” has caused controversy amongst conservative
commentators, but the real outrage behind the story has been
completely overlooked – the fact that Gates is a hardcore eugenicist
and has called for lowering the global population through vaccines
which his foundation funds to the tune of billions.

Gates starts to outline cuts to save $100 billion for defense (Washington
Post ) [ Oooooh … sounds like a plan! No, not gates’ only slightly less
bankrupt nation plan over 5 years which bearly covers the interest on the
trillion plus for the wars; but rather, Karzai’s plan for u.s. companies
extended to u.s. presence, period! ] Defense Secretary Robert Gates on
Tuesday said the Pentagon must get "more bang for its buck and shift its
focus to the military's needs for the future." Karzai wants private security
firms out of Afghanistan: KARZAI WANTS COMPANIES OUT U.S. calls 4-
month deadline 'very challenging' (Washington Post) One too many civilian
killed. Maybe they figured out that american non-strategy employing the
Hegelian methodology of creating problems that American firms can solve.
Doomed to failure, they eventually catch on. The bushes were famed for
same but wobama has foolishly been no slouch in this regard.
Ex-CIA Agents Confirm Torture at Polish Black Site Former CIA agents
have confirmed rumors that the agency tortured terror suspects at a
detention center in Poland. One agent allegedly held a drill to a
prisoner’s head while he was naked and hooded.
Blair’s Journey: US medal for ‘war criminal’? Former British Prime Minister
Tony Blair will receive a prestigious American medal for human rights
work. But in his ten years as premier, Blair went from huge popularity
to being called a U.S. poodle. His policies in Iraq and Afghanistan
earned him accusations of having blood on his hands. And as Laura
Emmett reports, many are outraged at his latest award.
Big Sis To Get Expanded Role In Policing Internet Two cybersecurity bills
that would hand President Obama the power to shut down parts of the
Internet in the event of a national emergency have now been merged
into a single unified piece of legislation that Democrats will try to pass
before the end of the year, with the Department of Homeland Security
being given a larger role in policing the world wide web.
Peace Activist Cindy Sheehan: “I am A 9/11 Truther” Cindy Sheehan, the

anti-war activist who lost her son to the ongoing war in Iraq, delivered
an impassioned and emotional speech during which she specifically
addressed concerns over the 9/11 attacks and stated that she believes
they were orchestrated by elements of the U.S. government for
political gain.
Soros Front Group Exploits Teenage Celebrity to Get Out Vote for War
Party Soros and crew want to get out the vote at all cost, even if they
have to exploit kids.
Gold and Silver Explode as Banksters Abandon Market Manipulation Gold
has surged to a new high as the prospect of inflation reared its ugly
head in the United Kingdom on bad news from a report indicating a
weaker-than-expected eurozone industrial production. Germany and
France, despite sovereign debt fears, have been able to manage
anemic growth but today’s data signals a slow down.
Allegation: Americans Flooded Out Millions in Pakistan to Protect U.S.

Drone Military Base Feryal Ali Gauhar served as a Goodwill
Ambassador for the United Nations Population Fund and is the only
UN Goodwill Ambassador who quit over the invasion of Iraq.
The Biocratic Utopians Part I: Prussian Grenadiers Jurriaan Maessen | The

ambition of the biocrats is to create a “superior” class of men.
Gold and Silver Explode as Banksters Abandon Market Manipulation Kurt

Nimmo | Gold traded as high as $1,261.90 on Tuesday.
Big Sis To Get Expanded Role In Policing Internet Paul Joseph Watson |
Democrats want “Kill Switch” bill passed this year.
Soros Front Group Exploits Teenage Celebrity to Get Out Vote for War
Party Kurt Nimmo | The Twitter crowd needs to know that the health of
the state is perpetual war.
Expanding U.S.-Canada Security and Economic Partnership Dana Gabriel |

NAFTA partners are pursuing a more bilateral agenda for advancing
continental integration.
Cuba to cut 500,000 workers, reform salaries (Washington Post) [ Boy,
when Castro said communism wasn’t working for them anymore, he wasn’t
kidding! No gloating for defacto bankrupt, pervasively corrupt america
which is a far cry from capitalism and but a whisper from collapse itself.]
Banks miss TARP payments (Washington Post) [ Sounds like a plan! …

Bank Failure Friday Continues at Seeking Alpha ‘…Bank Failure Friday
continues with the total number of failures for 2010 now up to 119 on the
way to 150 to 200, as the third quarter total ended September 10th at 33.
During “The Great Credit Crunch” the FDIC only closed 25 banks during all
of 2008. In 2009 the FDIC picked up the pace with 140 bank failures with a
peak of 50 in the third quarter of 2009. So far in 2010 the FDIC closed 41
banks in the first quarter, another 45 in the second quarter, and so far 33
for the third quarter. With 119 bank failures so far in 2010 the total for “The
Great Credit Crunch” is up to 284 continuing its path to my predicted 500 to
800 by the end of 2012 into 2013 … (see rest of article infra)]
Economy's fallout (Washington Post) The fallout of a troubled economy

[ I’m sorry to say that … you ain’t seen nothing yet … much worse to
come! ]From foreclosure to food shortages, the recession set in motion
by the financial crisis of 2008 is having a broad and deeply-felt global
impact.
Doomsday warnings of US apocalypse gain ground AFP | Economists

peddling dire warnings that the world’s number one economy is on the
brink of collapse.
A subtler tack to fight Afghan corruption? (Washington Post) [ How about
a not so subtler tack to fight corruption starting right here in the u.s. of a.
where corruption and crime are pervasive and in fact, at the root of the
Afghanistan problems, from american reinvigorated heroin trade to bribery
attendant thereto to killing civilians, etc.. Defacto Bankrupt, Meaningfully
Lawless, War Criminal Nation america, the leader of nations … in crime:
Though having but 5% of the world’s population, america can boast 76% of
the world’s serial killers, followed by Europe with England/UK then
Germany leading the way for the eu [excerpt, 6 minute video, Serial Killers:
Real Life Hannibal Lechters
http://www.albertpeia.com/realifeamericaserialkillers.mpg (as is
consistent with crime generally, see infra)]. Defacto bankrupt, fraudulent
america also spends more on offensive (defensive a misnomer /
propaganda) military spending than all the nations of the world combined,
and by a large margin at that. Do you see a pattern emerging here [ I
unfortunately only belatedly did, and the feds, fed employees, cia, all 3
branches of the u.s. government, etc., are included in this evolved
american trait of inherent criminality in the most nefarious sense (
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenalty
ofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ) ]:
CRIME STATISTICS > TOTAL CRIMES (MOST RECENT) BY COUNTRY

SHOWING LATEST AVAILABLE DATA (america’s No. 1).
Rank Countries Amount

#1 United States: 11,877,218
#2 United Kingdom: 6,523,706
# 3 Germany: 6,507,394
… ]
Doomsday warnings of US apocalypse gain ground AFP | Economists

peddling dire warnings that the world’s number one economy is on the
brink of collapse.
Handcuffs For Wall Street, Not Happy Talk Zach Carter | The fraud
allegations that have emerged over the past year are not restricted to
a few bad apples at shady companies — they involve some of the
largest players in global finance.
Why New Bank Capital Rules Could Make Things Worse CNBC | Early
reports suggest the required levels of capital will be much lower than
feared, and the kinds of assets that can be used to meet the
requirements more expansive than earlier proposals suggested.
Economic Docs Find Remedy Amid Bubble Rubble Even the most casual
observer of the events of the last five years — the housing bubble, the
bust and the digging-out process — would be struck by the
similarities between the policies that got us into this mess and the
prescriptions for getting us out.
World Panel Backs Rules to Avert Banking Crises Top central bankers and
bank regulators agreed Sunday on far-reaching new rules for the
global banking industry that are designed to avert future financial
disasters, but could also dampen bank profits and strain weaker
institutions.
Tim Geithner Warns: The US Is At Risk Of A 1930s Repeat If the

government become paralyzed — as is arguably the case already, and
is clearly a serious risk should the GOP take over — the US risks a
1930s-like scenario. At least according to Tim Geithner.
M2 Surges By $30 Billion In Past Week To Highest Ever, Even As Monetary

Base Declines Another week in which the M2 jumped to a fresh all
time high, increasing by $30 billion W/W to just under $8.7 trillion.
Bank Failure Friday Continues at Seeking Alpha ‘…Bank Failure Friday
continues with the total number of failures for 2010 now up to 119 on the
way to 150 to 200, as the third quarter total ended September 10th at 33.
During “The Great Credit Crunch” the FDIC only closed 25 banks during all
of 2008. In 2009 the FDIC picked up the pace with 140 bank failures with a
peak of 50 in the third quarter of 2009. So far in 2010 the FDIC closed 41
banks in the first quarter, another 45 in the second quarter, and so far 33
for the third quarter. With 119 bank failures so far in 2010 the total for “The
Great Credit Crunch” is up to 284 continuing its path to my predicted 500 to
800 by the end of 2012 into 2013.
The failed bank was publicly-traded Horizon Bank (HZNB.OB), which had
huge overexposures to C&D and CRE loans with risk ratios of 358% and
1769% versus the ignored regulatory guidelines of 100% and 300% of risk-
based capital. The commitment pipeline of commercial real estate loans
was 99% funded as “extend and pretend” caused this failure. The
consolidator bank has been used before by the FDIC; Bank of the Ozarks
(OZRK) which has a HOLD rating according to ValuEngine.
Here are some statistics from the FDIC for the Second Quarter 2010: There
were 45 bank failures in the second quarter, and we ended the quarter with
the number of FDIC-insured financial institutions declining to 7,893, of
which 1306 are publicly-traded.
· 1172 of all community banks (14.8%) are overexposed to Construction &

Development Loans.
· 1432 or 18.1% are overexposed to Nonfarm / Nonresidential real estate

loans.
· 2504 or 31.7% are thus overexposed to Commercial Real Estate loans.
· 1317 or 16.7% have a real estate loan pipeline that’s 100% funded.
· 2622 or 33.2% have a pipeline that’s between 80% and 100% funded.
· 3939 of 49.9% of all banks have a pipeline that’s 80% or more funded. So
half the community banks in America remain overleveraged to Commercial
Real Estate and the possible losses remain about $1.5 trillion.
Publicly-Traded Banks:
· 293 of the 1306 publicly-traded banks are overexposed to C&D loans
· 394 are overexposed to Nonfarm / Nonresidential real estate loans.

· 687 or 52.6% of the publicly-traded banks are thus overexposed to
Commercial Real Estate loans. We publish this list as the ValuEngine List
of Problem Banks.
· 234 publicly-traded banks have a real estate loan portfolio that’s 100%
funded.
· 463 have a real estate loan portfolio between 80% and 100% funded.
· 697 thus have significant real estate loan pipeline stress.
Problem Banks at the end of the Second Quarter versus the First Quarter:
• Given the waves of bank failures the total assets among the 686
Publicly-Traded Problem Banks declined to $135.9 billion from
$164.7 billion in the first quarter. C&D loans declined to $12.7 billion
from $16.4 billion with a CRE loan pipeline steady at 78.1% versus
78.0%.
• Assets among the 91 Deadbeat Banks, (those in arrears on making
TARP dividend payments), totals $99.9 billion with C&D loans at
$10.9 billion and a CRE pipeline of 80.9%.
• Assets among failed publicly-traded banks increased to $122.5
billion from $116.7 billion in the first quarter. C&D loans increased to
$22.3 billion from $21.5 billion. The CRE loan pipeline increased a
tick to 90.4% from 90.3%.
Assets among banks with a CRE pipeline of 80% or more funded increased
to $3.84 trillion including $121.3 billion in C&D loans. The average pipeline
for 3939 banks is 92.0%. Among this list are four big banks that will likely
see waves of write-offs in upcoming quarters.
• JP Morgan Chase (JPM) with $1.72 trillion in assets has a pipeline of

80%.
• SunTrust Banks (STI) has $160.5 billion in assets with an 83%
pipeline.
• BB&T Corp (BBT) has $149.2 billion in assets with an 84% pipeline.
• Fifth Third Bank (FITB) has 100.0 billion in assets with an 84%
pipeline.
Disclosure: No positions’
U.S. Trade Deficit Still Growing

Why New Bank Capital Rules Could Make Things Worse CNBC | Early
reports suggest the required levels of capital will be much lower than
feared, and the kinds of assets that can be used to meet the
requirements more expansive than earlier proposals suggested.
Too Big To Fail Global Banks Will Collapse Between Now and First Quarter
2011 Matthias Chang | Quantitative Easing spearheaded by the
Chairman of Federal Reserve, Ben Bernanke, delayed the inevitable
demise of the fiat shadow money banking system slightly over 18
months.
Defacto Bankrupt, Meaningfully Lawless, War Criminal Nation america, the

leader of nations … in crime:
ofperjury.pdf


#1 United States: 11,877,218
#2 United Kingdom: 6,523,706
#3 Germany: 6,507,394
#4 France: 3,771,850
#5 Russia: 2,952,370
#6 Japan: 2,853,739
#7 South Africa: 2,683,849
#8 Canada: 2,516,918
#9 Italy: 2,231,550
# 10 India: 1,764,630
# 11 Korea, South: 1,543,220
# 12 Mexico: 1,516,029
# 13 Netherlands: 1,422,863
# 14 Poland: 1,404,229
# 15 Argentina: 1,340,529
# 16 Sweden: 1,234,784
# 17 Belgium: 973,548
# 18 Spain: 923,271
# 19 Chile: 593,997
# 20 Thailand: 565,108
# 21 Ukraine: 553,594
# 22 Austria: 552,411
# 23 Finland: 520,194
# 24 Denmark: 491,026
# 25 New Zealand: 427,230
# 26 Hungary: 420,782
# 27 Czech Republic: 372,341
# 28 Zimbabwe: 351,153
# 29 Norway: 330,071
# 30 Romania: 312,204
# 31 Switzerland: 307,631
# 32 Turkey: 286,482
# 33 Morocco: 283,702
# 34 Venezuela: 236,165
# 35 Portugal: 218,360
# 36 Colombia: 214,192
# 37 Malaysia: 167,173
# 38 Peru: 161,621
# 39 Bulgaria: 148,915
# 40 Uruguay: 134,010
# 41 Belarus: 132,867
# 42 Tunisia: 130,375
# 43 Slovakia: 107,373
# 44 Greece: 102,783
# 45 Croatia: 101,853
# 46 Lithuania: 92,646
# 47 Philippines: 85,776
# 48 Saudi Arabia: 84,599
# 49 Slovenia: 81,697
# 50 Ireland: 81,274
# 51 Hong Kong: 80,592
# 52 Iceland: 60,242
# 53 Zambia: 59,426
# 54 Estonia: 57,799
# 55 Latvia: 49,329
# 56 El Salvador: 44,762
# 57 Costa Rica: 40,263
# 58 Jamaica: 39,188
# 59 Kyrgyzstan: 38,620
# 60 Moldova: 36,302
# 61 Mauritius: 35,943
# 62 Bolivia: 31,138
# 63 Luxembourg: 26,046
# 64 Yemen: 24,066
# 65 Panama: 21,058
# 66 Macedonia, The Former Yugoslav Republic of: 19,814
# 67 Kuwait: 19,350
# 68 Burma: 18,301
# 69 Malta: 17,023
# 70 Azerbaijan: 15,520
# 71 Georgia: 15,029
# 72 Papua New Guinea: 13,292
# 73 Cyprus: 13,023
# 74 Armenia: 12,048
# 75 Oman: 11,782
# 76 Nepal: 8,872
# 77 Dominica: 7,857
# 78 Maldives: 7,026
# 79 Qatar: 5,838
# 80 Albania: 5,303
# 81 Seychelles: 4,297
# 82 Montserrat: 751
Total: 63,531,202
Weighted average: 774,770.8
DEFINITION: Note: Crime statistics are often better indicators of prevalence of

law enforcement and willingness to report crime (I believe, and facts support,
crime in america to be substantially under-reported and under-prosecuted owing
to pervasive corruption, arbitrary enforcement of the law, etc.) than actual
prevalence.
SOURCE: The Eighth United Nations Survey on Crime Trends and the
Operations of Criminal Justice Systems (2002) (United Nations Office on Drugs
and Crime, Centre for International Crime Prevention)
The New Terrorist Threat To America: Drunk British Teenagers Brandishing

Insults Steve Watson | College student banned from US for life for
name calling email to White House. I’m sure he’s crying both night
and day … you know, from prospective loss of that new global roach
motel (once you go in, you never come out); viz., the disunited states
of america; and wow, talk about thin skin; who can’t think of far worse
to call wobama; and then, there’s the real terror threat.
Big Sis Iris Scanners: The Prison Without Bars Paul Joseph Watson |
Americans will be forced to prove they are well-behaved serfs to be
able to do anything.
Dick Gregory Announces Hunger Strike for 9/11 Truth Dick Gregory | I am
announcing today that I will be consuming only liquids beginning
Sunday until my eightieth birthday in 2012 and until the real truth of
what truly happened on that day emerges and is publicly known.
9/11 – State of Emergency: An Era of Madness and Despair The Excavator |

All the freedoms of the American people that are being stripped by the
U.S. government under national emergency are rationalized because
of the terrorist attacks on September 11.
Doomsday warnings of US apocalypse gain ground Economists peddling

dire warnings that the world’s number one economy is on the brink of
collapse, amid high rates of unemployment and a spiraling public
deficit, are flourishing here.
Greek Default: Why It’s Only A Matter Of Time Is Greek default only a
matter of time? According to the Council on Foreign Relations that’s
the story the bond market is currently telling us.
Zionists are behind Quran desecration: Iran FM Iranian Foreign Minister

Manouchehr Mottaki has described the Quran-burning plan as a
Zionist-orchestrated scheme.
Google ‘damages users’ brains’ Google damages the brains of its users by
offering too much assistance in solving problems, an author has
claimed.
Feds Spent $800,000 of Economic Stimulus on African Genital-Washing

Program The National Institute of Mental Health (NIMH), a division of
the National Institutes of Health (NIH), spent $823,200 of economic
stimulus funds in 2009 on a study by a UCLA research team to teach
uncircumcised African men how to wash their genitals after having
sex.
Ground Zero Mosque Controversy: A CIA Orchestrated Event Kurt Nimmo |

The Ground Zero mosque event was designed to reinvigorate the
manufactured Global War on Manufactured Terror.
Obama Touts Inefficient Program to Defend Stimulus: $1.4m per Green Job
Created Activist Post | Only 390 jobs were created from the $548
million taxpayer investment, or about $1.4 million per job.
British troops in Afghanistan face heroin smuggling probe British military

police are investigating claims that the country’s servicemen may
have, with the americans, trafficked heroin out of Afghanistan, the
Ministry of Defence in London said Sunday.
United States Joint Forces Command Warns that Huge U.S. Debt Will Lead
to Military Impotence, Default or Revolution [ Little bit late for that …
the warning thing! ] American military and intelligence leaders say
that debt is the main national security threat to the U.S.
Korans vandalized in New York, Washington on 9/11 anniversary Two
religious leaders at a recently-founded offshoot of the Baptist church
burned Korans in a Tennessee back yard on the anniversary of the
9/11 attacks, reports the NBC affiliate in Nashville.
September 11 anniversary marked by noise and recrimination The

September 11 anniversary is usually a day of quiet reflection. But this
year the furore over plans for a mosque near Ground Zero led to a day
of noise and recrimination.
Nine Years After 9/11, Only 1% See Terrorism as Top U.S. Problem Nine
years after the terrorist attacks of Sept. 11, 2001, 1% of Americans
mention terrorism as the most important problem facing the country,
down from 46% just after the attacks.
Nine years, two wars, hundreds of thousands dead – and nothing learnt Did
9/11 make us all mad? Our memorial to the innocents who died nine
years ago has been a holocaust of fire and blood.
When Will the Bad Dream End? Anthony Gregory | It has been nine whole
years since 9/11, and it is starting to look like the “post-9/11″ insanity
has become a permanent feature of the American landscape.
The Silence of September 11 Infowars.com | Silence has followed ever

since the attack and continues until this day, as Peter Dale Scott
explains.
Wikileaks to Release Massive Document Collection on Iraq War Ahmad F
Al-Shagra | The Iraq War report is larger than the Afghan War
documents made available for advance review to The New York Times,
The Guardian, and Der Spiegel.
Pastor at centre of Koran-burning controversy flies to New York for

September 11th The pastor who planned to burn Korans on today’s
ninth anniversary of the September 11th attacks has flown to New
York to challenge the controversial proposed Islamic centre close to
the Ground Zero site.
Koran-burning pastor ‘has gone mad’ and ‘needs help,’ daughter says The
estranged daughter of a Florida pastor who has threatened to burn
copies of the Koran believes he has gone mad and needs help, she
said in a German media interview conducted on Friday.
DHS: Another Attack Could Be On The Way “We can’t guarantee there
won’t be another successful terrorist attack,” Napolitano will tell first
responders and emergency workers.
We have failed, admits UN, as fresh wave of Congo rapes emerges The
United Nations has been urged to go back to basics in protecting
civilians in Eastern Congo after admitting that 500 rapes in the space
of a single month amounted to a serious failure in its mission.
9 Years Later, Nearly 900 9/11 Responders Have Died, Survivors Fight for
Compensation The victims of 9/11 are being remembered in many
places around the world, Russia among them. Dozens have come to
lay flowers at the US Embassy in the Russian capital.
“We’re dead men walking”: The toxic legacy of 9/11 More than 10,000
Ground Zero workers – known as “first responders” – are suffering
from serious and even fatal illnesses after inhaling the toxic dust
cloud caused by the crumbling towers.
Firefighter battles cancer he got from 9/11 toxins Nine years after the
attacks of 9/11, many heroes from that day are still fighting for their
lives. One of them is a firefighter, who is struggling to stay alive for
his family.
Compensation for 9/11 First Responders to Be Revisited in Congress With

the nine-year commemoration of the Sept. 11 terrorist attacks on the
World Trade Center approaching on Saturday, thousands of victims,
many of whom risked their lives to save others, are speaking out and
saying that the government has abandoned them in their time of need.
9/11 responders demand justice Last month RT filmed this emotional

footage of 9/11 first responders pouring their hearts out at a speech
just blocks away from where the twin towers fell. The rally was in
response to Congress defeating a federal bill that would have
provided billions of dollars in health care for those sickened by toxins
released by the collapse of the World Trade Center towers Sept. 11,
2001.
America’s Torture Doctrine John Galt | We idolize torturers in our favorite

TV programs, and are happy to see our enemies (real and imagined)
vicariously taken apart in order to protect our beacon of freedom.
The Anniversary of 9/11 Washington’s Blog | If even the 9/11

Commissioners don’t buy the official story, why do you?
Drudgereport: Doomsday warnings of US apocalypse gain ground...
US poverty on track to post record gain under Obama...
Last minute aid helps city dodge default...
REPUBLICAN ACCUSES WHITE HOUSE OF 'CLASS WARFARE'...
Paul says GOP shares blame for deficits...
Kerry flip-flops on tax cuts...
Muslims protest Quran-burning plan...
Florida pastor calls it off...
Christians rip pages from Muslim holy book in front of White House...
Man ignites Quran near Ground Zero...
VIDEO...
Mosque opponents, supporters face off in downtown NYC...
OBAMA: 'We are not and never will be at war with Islam'...
When Will the Bad Dream End? Anthony Gregory | It has been nine whole
years since 9/11, and it is starting to look like the “post-9/11″ insanity has
become a permanent feature of the American landscape.
Nine years, two wars, hundreds of thousands dead – and nothing learnt Did
9/11 make us all mad? Our memorial to the innocents who died nine
years ago has been a holocaust of fire and blood.
Koran-burning pastor ‘has gone mad’ and ‘needs help,’ daughter says The
estranged daughter of a Florida pastor who has threatened to burn
copies of the Koran believes he has gone mad and needs help, she
said in a German media interview conducted on Friday.
We have failed, admits UN, as fresh wave of Congo rapes emerges The
United Nations has been urged to go back to basics in protecting
civilians in Eastern Congo after admitting that 500 rapes in the space
of a single month amounted to a serious failure in its mission.
9 Years Later, Nearly 900 9/11 Responders Have Died, Survivors Fight for
Compensation The victims of 9/11 are being remembered in many
places around the world, Russia among them. Dozens have come to
lay flowers at the US Embassy in the Russian capital.
“We’re dead men walking”: The toxic legacy of 9/11 More than 10,000
Ground Zero workers – known as “first responders” – are suffering
from serious and even fatal illnesses after inhaling the toxic dust
cloud caused by the crumbling towers.
Firefighter battles cancer he got from 9/11 toxins Nine years after the
attacks of 9/11, many heroes from that day are still fighting for their
lives. One of them is a firefighter, who is struggling to stay alive for
his family.

Execs with criminal records slip through FHA crackdown (Washington

Post) Center for Public Integrity [ Oh come on! Wake up! What’s the
difference? A criminal record merely implies in pervasively corrupt,
meaningfully lawless, defacto bankrupt america today that they had
not the connections of the biggest criminals in america today; you
know, not ‘high enough up on the food chain’ like the frauds on wall
street, etc., who have access, means, and money for bribes in one
form or another to america’s substantial detriment. I mean, arguendo,
who would you feel more comfortable / trusting doing business with;
Martha Stewart or one of those wall street, military industrial complex
ceo’s, etc.. ]A crackdown on reckless mortgage lenders has failed to
root out several executives with criminal records whose firms
continue to do business with the agency in violation of federal law.
Obama defends Democrats' economic initiatives (Washington Post) [ What

initiatives? Hands off fraudulent wall street by no prosecutions, fines,
jail, disgorgement which would have gone a long way to cleansing /
righting the economic / financial system? Rallying congress (see infra
– new FASB rule change to mark to anything valuation of worthless
assets and the 157 Rule change that allowed banks to park all their
losses in a bucket called other comprehensive income (OCI). OCI
appears on the balance sheet, but not on the income statement and
thus does not affect earnings ) toward greater obfuscation of
continuing economic dilemma / debacle? Fake data as in the most
recent batch of estimated unemployment claims? Increased war
spending in Afghanistan despite defacto bankruptcy of the nation? ]
Obama said he would use the fall campaign season to remind voters
of the sinking economy he inherited when he took office and what
measures he has since put in place.
Defense cuts could slow D.C. economy for years (Washington Post) [ Well,
giving credence to the 9/11 Truthers and a reason why the attacks were
allowed to go forward and even in part why those mossad agents on the
banks of the Hudson in Weehawken, n.j. were cheering as the twin towers
were in flames, war, both legal and illegal when they’re greedy enough
which is almost always, and war profiteering specifically, is very big
business; but alas, more destructive, both home and abroad, than
constructive in both real and economic terms; and then of course, the
geopolitical toll which will linger far longer than the ephemeral short-term
gains for the unscrupulous few. ( I had a full-professor who was also a CPA
for my Cost Accounting Course as required for my MBA in Finance,
evening program, NYU GBA. He referenced his own military experience in
pointing out the folly of much of the military budgetary / spending process
in terms of his duties which included each day firing off munitions (small
mortars, ‘rockets’, etc.) at nothing whatsoever at all, if only to make sure at
the end of the month (longer periods) more munitions / spending would
have to be budgeted and purchased and so on. They’ve certainly come a
long way in the ‘budgetary / spending’ process by creating wars to
maintain same. This can never be justified; and, after all, the nation’s
defacto bankrupt. ). What isn’t corrupt / fraudulent in washington d.c., or in
America generally, for that matter? ] After surging during post-9/11 era, the
industry now braces for a major contraction and layoffs that could produce
a significant drag on region.
Unemployment Claims Not as Bullish as They Seem (Why? Kudrna:‘The

Labor Department reported Thursday morning that new claims for
unemployment dropped a seasonally adjusted 27,000 to 451,000.
Unexpected bullish news, right? The markets immediately gapped-up on
this information as the bulls found good reason to buy. Unexpected
positive news is almost always met with a bullish move north as it’s rarely
priced in. However, a useful tidbit of information about that shockingly
large drop came out after the gap-up. Bloomberg reported that nine states
didn't file claims data to the Labor Department in Washington because of
the Labor Day holiday earlier this week. California and Virginia estimated
their figures and the U.S. government estimated the other seven.
Coincidence in the large drop or not? We will see when the next revision
comes out but usually those revisions fail to make headlines as we are
already focusing on future claims. This has been a great cover-up method
for a long time…’
How Government Reporting Will Intensify the Inevitable Simon Maierhofer,

On Friday September 10, 2010, 12:41 pm EDT ‘Natural carbonation keeps a
champagne bottle under constant pressure. The more you shake the bottle, the
higher the pressure gets and the further the cork will eventually fly. Figuratively
speaking, the government has been shaking the bottle. Watch out when the cork
pops. On August 10, the Associated Press reported that the Federal Reserve has
found a new trick to jumpstart the economy. Below is the full quote that shows
why we probably can't expect unbiased assessments coming out of Washington,
or the Fed's corner: 'The Federal Reserve policymakers are pondering ways to
jumpstart the economic recovery. The trick: making sure whatever they do or say
doesn't rattle Wall Street.' Some of the recent government statistics have been
'interesting' no doubt, and we know the administration has spent trillions in an
attempt to lift the economy, but would it go as far as actually fudging statistics?
We'll examine potential cases for 'data spiking' in a moment, but for now we'll
take a look at one of the most popular government statistics, which is misleading
to say the least.
GDP - Like a Flag in the Wind
GDP reports are prepared by the Bureau of Economic Analysis (BEA) and are a
science all in itself. GDP reports are often revised. The 'advance' estimate is
published at the end of the first month following the close of a quarter. In addition
to the 'advance' estimate, there are first and second revisions called the
'preliminary' and 'final' estimates. The 'final' estimate is reviewed annually,
usually in July. Once every several years, the BEA reviews all data back to 1929.
On July 30, the BEA lowered Q2 2010 growth from an estimated 2.7% to 2.4%.
The real GDP for all three previous years was revised as well. It was lowered by
0.2% for 2007, it was lowered by 0.6% for 2008 and it was lowered by 0.4% for
2009 (see chart below)[chart]. In percentage terms, the real GDP for 2007 was
revised down from 2.5% growth to 2.3%. The 2008 decrease was lowered from
1.9% to 2.8%, and 2009 growth was revised up from a 0.1% to a 0.2% increase.
In essence, the BEA proved that the recession was (or is) much deeper and the
alleged recovery much weaker than previously reported. Imagine if you would
have based your 2007 and 2008 investment decisions on GDP reports. But wait,
there is more. On August 27, the BEA lowered the Q2 2010 GDP growth from
2.4% to 1.6%. The financial media, however, applauded the reduction since the
final 1.6 number was still higher than the 1.4% economists expected. Stocks
rallied over 2% that day.
Unemployment Numbers - Not Deserving of Your Trust
Unemployment in August increased from 9.5% to 9.6%, but that's ok. Why?
According to the financial media, the increase of unemployment was due to an
increase in labor force. An estimated 6.6 million students will be graduating and
joining the labor force this year. An increasing labor force is a reality, not an
excuse to rationalize higher unemployment numbers. The real unemployment
rate (U-6) reported by the BLS (but neglected by the financial media) jumped
from 16.5% to 16.7%. Nevertheless, stocks rallied nearly 3% when
unemployment figures were released on September 3rd. According to the BLS,
the manufacturing sector lost 27,000 jobs in August. This, however, contradicts
the positive August ISM manufacturing report, which rose from 55.5% to 56.3%.
Here is the analysis from the Institute for Supply Management: 'A PMI in excess
of 42 percent, over a period of time, generally indicates an expansion of the
overall economy. Therefore, the PMI indicates growth for the 16th consecutive
month in the overall economy, as well as expansion in the manufacturing sector
for the 13th consecutive month.' If you ask the unemployed, it doesn't feel like the
manufacturing sector is improving.
Changing Rules to Accommodate Growth
Amidst the biggest financial meltdown since the Great Depression, the
administration had to act quickly. The sheer amount of toxic assets overwhelmed
the banking (NYSEArca: KBE - News) and financial sectors (NYSEArca: XLF -
News), which led to the fall of Lehman Brothers and credit contraction around the
globe (NYSEArca: EFA - News). It was impossible to eliminate trillions of bad
loans or revive the ailing real estate market (NYSEArca: IYR - News). It was
impossible to prop up faltering sectors like consumer discretionary (NYSEArca:
XLY - News) and technology (NYSEArca: XLK - News). In short, it was
impossible to change reality. It was, however, possible to change the prevailing
perception and hide the root problems. In fact, it wasn't just possible; it proved to
be fairly easy. The government simply urged the Financial Accounting Standards
Board (FASB) to change some rules. On April 2, 2009, the FASB changed Rule
157. The ripple effect caused by massive real estate losses suffered by the 'too
big to fail' banks (NYSEArca: IYF - News), as well as regional banks (NYSEArca:
KRE - News), threatened the integrity of the entire system. The 157 Rule change
allowed banks to park all their losses in a bucket called other comprehensive
income (OCI). OCI appears on the balance sheet, but not on the income
statement and thus does not affect earnings. In late 2009 and early 2010, banks
exceeded their earnings expectations - at least on paper - which created the
perception that the economy was recovering. As it turns out, the timing for the
Rule 157 change was perfect and coincided with the biggest stock market rally in
recent history. A 50%+ run in the Dow Jones (DJI: ^DJI), S&P (SNP: ^GSPC),
and Nasdaq (Nasdaq: ÎXIC) intensified the perception that the economy was on
the mend. Before the accounting rule change and other government efforts, the
ETF Profit Strategy Newsletter predicted the biggest rally since the October 2007
all-time highs. Via the March 2nd Trend Change Alert, the newsletter advised to
close out previously recommended short positions (some gained 100% and
more) and buy long and leveraged ETFs, many of which gained 50%, 100% or
more.
Back to the Future
All was well until April 2010. Prior to the April highs, Mr. Bernanke, Mr. Geithner,
and the President were campaigning for their fair share of credit for rescuing and
reviving the country. Rather than examining and disclosing some of the
government's questionable methods, the media jumped on the bandwagon and
tickled the alleged 'saviors' egos. By doing so, the pressure in the champagne
bottle was increased. More investors bought stocks under the mistaken view the
economy had improved. This increased the pool of stock owners and the pipeline
of sellers. As per the most recent GDP numbers, investors found out that the
state of the economy is worse than previously thought. Furthermore, the
government has lost credibility and some of its associated ability to inflate stock
market confidence. Watch out, once the cork blows! Investors leaving the market
could send prices falling as fast as champagne gushing out of a bottle. In fact,
this exodus probably started already. On April 16, the ETF Profit Strategy
Newsletter noted that: 'The cork seems to have popped. Reality is setting in. The
pieces are in place for a major decline.' Following the April highs, the ensuing
decline erased eight months worth of gains in a mere 22 trading days. An initial
wave of somewhat critical media reports quickly faded as the stock market
stabilized. Sideways trading tends to calm the nerves and get investors re-
engaged before the hammer drops again. What's the moral of the story? Faulty
government data and trend-following media reports tend to distort the real
picture and postpone and intensify the inevitable.
The ETF Profit Strategy Newsletter combines the analysis of various indicators
with common sense and out-of-the-box thinking to formulate a short, mid, and
long-term forecast.’
Successful Economic Policies? For Whom? Last week, in the wake of

another uptick in the official unemployment rate, the administration
continued to claim that their economic policies were working, just not
fast enough.
Can America Recover When The Majority Of Americans See A Double Dip,
And Think The Country Is Fundamentally Broken? Earlier this week
we asked, can the economy really recover when 92% of the population
says the economy is garbage in a survey? That was the number in a
WSJ/NBC poll, and it would seem to indicate a major headwind in
terms of sentiment.
IMF Resumes Direct Gold Dumping, Sells 10 Tons Of The Shiny Metal To
Bangladesh It has been a while since the IMF sold gold directly to
sovereign countries.
U.S. drops in competitiveness ( Washington Post ) [ Fourth place for

pervasively corrupt, defacto bankrupt america? I don’t think so; not in their
wildest dreams, and there’s a lot of that in america these days, but little
else. Reality says america’s place should be in the twenties at best.
Obama rating hits new low Overall, 41% of voters say they at least
somewhat approve of the president’s performance. Fifty-eight percent
(58%) disapprove.

Congressman Ron Paul Hints At 2012 Presidential Campaign Steve Watson
| “It’s something I think about every single day.”
Hamilton and Kean Call for Domestic Terrorism Agency Kurt Nimmo | A
bipartisan effort is underway to demonize patriotic Americans as
domestic terrorists.
Doctors Giving Veterans Questionnaire to Determine Mental Illness

Infowars.com | In 2007, a bill passed in the House and Senate allowing
government to deny Second Amendment to veterans.
Drudgereport: Thousands of Afghans protest Quran-burning plan...

Tennessee preacher to burn Quran...
Topeka, Kansas church vows burning...
Protester plans to burn on Wyoming's Capitol steps...
FLASHBACK: Muslims Burn Bibles and Destroy Crosses...
Ground Zero imam ignores pastor's two-hour deadline...
12 soldiers face trial after Afghan civilians 'were killed for sport and their
fingers collected as trophies'...
U.S. drops in competitiveness ( Washington Post ) [ Fourth place for

pervasively corrupt, defacto bankrupt america? I don’t think so; not in their
wildest dreams, and there’s a lot of that in america these days, but little
else. Reality says america’s place should be in the twenties at best.
Previous: U.S. drops in competitiveness (Washington Post) [ Singapore,
Sweden, … ? Don’t make me laugh! From defacto bankrupt, meaningfully
lawless america’s perspective, this fallen ranking was a gift and one must
be asking, what were they smoking (or whose money were they taking?)
and is the rest of the world really that bad off? ] Large deficits and a
weakened financial system make the U.S. less competitive in the global
economy, according to World Economic Forum's new ranking. Sweden Is
A Better Place To Do Business Than The U.S. – [Well, that part is true, but
…]. ‘…Sweden, by contrast, has “the world’s most transparent and
efficient public institutions, with very low levels of corruption and undue
influence.” Which loosely translated from wonk-speak sounds like, “You’re
better off dealing with honest socialists than crony capitalists.”’ [ True
enough, but I still don’t buy it (the rankings), especially america’s fourth
place (as opposed to lower) ranking.]
Capitol Hill workers rack up back taxes ( Washington Post ) [ When you
consider the pervasive corruption in their ranks and the redundancy /
non-productive nature of government jobs, the case becomes
irrefutably stronger for the abolition of same; particularly the lifetime
appointees along with their plush accouterments, courts, etc.. Then
there’s tiny tim geithner’s tax red flag, scofflaw hypocrit that he is. ]
Capitol Hill employees owed $9.3 million in overdue taxes at the end
of last year, a sliver of the $1 billion owed by federal workers
nationwide but one with potential political ramifications for members
of Congress.
Yeah! The lack of prosecutions and teeth therein has led to continued and
bolder frauds and a complicit u.s. government! Stocks extend gains after
drop in jobless claims [ Washington Post ] I was very disappointed to see
this headline without disclaimor. Very disheartening.
[ It’s really quite amazing, and you won’t get this from the ‘money honeys’
or other mainstream drivel (actually I got this from the CBS news reporter,
1070am radio, but NOT their business report), the so-called better than
expected jobs report (albeit bad at 451,000 continuing claims) was actually
based upon federal government estimates for those reports that were not
submitted owing to the holiday … and we all know how conservative the
u.s. government is in making estimates, especially in election cycles when
desperation abounds … riiiiight! ( Drudgereport: GOV'T MAKES IT UP:
JOBS NUMBERS 'ESTIMATED' FOR WEEK... 'BETTER THAN
EXPECTED'... ) Then there’s the ‘need more capital’ news from among
the strongest players in the European sector, viz., Germany’s Deutsch
Bank, which can only mean, particularly in light of their adoption of the
fraudulent wall street american mark to anything valuation of worthless
paper, still out there in the many (hundreds?) of trillions. (see infra, ‘…ECB
chief economist Jurgen Stark tells German MPs that the banking system is
insolvent. This led to complete shock because the newspaper headlines
from July suggested the opposite. The German policy establishment is
under the illusion that its banking system is sound because it passed what
turned out to be fraudulent stress test…’) Now, if the German banking
system’s insolvent, is there a term for double, triple, quadrupal, etc.,
insolvent for what the american banking system must be? One doesn’t
need clairvoyance to know that only bodes ill. Stocks Cling to Skinny
Gains, Can't Shake Banking Concerns ]
The Eerie Implications of Market Volume and Mutual Fund Flows ‘… Here's
a more compelling question: If two-thirds or more of daily volume is a
function of high-frequency trading, what are the implications for index
prices over the long haul? A year has passed since I posted some charts
illustrating the incredible ratio of S&P 500 volume devoted to five financial
stocks. Today's game is no doubt different from last September. It may be
about making money, but it probably has little to do with investing — which
may explain a lot about current volume metrics and mutual fund flows. I'll
update these volume charts periodically in the months ahead.’
Report From Europe: Fall in U.S. Weekly Jobless Claims Cheers Stocks
The Mole … Today is Rosh Hashanah, the jewish New Year, in which it is
believed the names of the righteous are recorded in the book of life, those
in the middle ground are given ten days to repent and become good, while
the wicked are deleted from the book of life. In essence, it is make or break
time for the year. One wonders if we might be entering a similar phase for
Ireland with landmark decisions over the fate of Anglo Irish Bank taken
(with the cost of the funeral to be know in early October) and the funding
cliff for Irish banks to refund some €25bn of maturing debt this month
pending (though I feel fears over their capacity to roll this debt is way
overblown)… Today’s Market Moving Stories
• Figures showed that the July US trade deficit declined more than
expected today and reached -$42.8bn. Thus, June’s spurt to $-49.8bn
seems to have been a blip in the data. In July, total exports gained
M/M 1.8 percent while imports decreased 2.1 percent. As for growth,
foreign trade is still set to be a slight drag on GDP in 2010Q3. After
all, imports started into Q3 on a very elevated level (and significantly
above the 2010Q2 average). However, the drag will be much less
than Q2’s -3.4pp.
• While US initial jobless claims fell 27k to 451k last week. Claims
moved sideways since the start of the year (the average since Jan is
466k), indicating that the improvement on the labour market did
make scant headway. All in all, after a long spell of weak data,
today’s releases offer some respite.
• In a combative speech, Obama conceded his policies have “fed the
perception that Washington is still ignoring the middle class,” was
billed as a major economic address to unveil a new round of
proposals to kick-start a flagging economic recovery. The president
did introduce three new policy proposals the White House has been
rolling out for nearly a week: $50 billion in additional infrastructure
spending, a permanent and expanded research and experimentation
tax credit and a measure allowing businesses to write 100 percent of
their investment costs off their taxes through 2011. But Mr. Obama’s
speech was far more about politics than economics.
• ECB chief economist Jurgen Stark tells German MPs that the
banking system is insolvent. This led to complete shock because the
newspaper headlines from July suggested the opposite. The German
policy establishment is under the illusion that its banking system is
sound because it passed what turned out to be fraudulent stress
test. Jurgen Stark is reported to have told a group of Christian
Democrat MPs in Berlin that the German banking sector as a whole
is undercapitalised. More controversially, he advised them to
privatise the saving banks – the ultimate taboo because the savings
banks are consider sacrosanct. FT Deutschland reported that Stark
also relayed the assessment of US bankers that the German system
could not conceivably survive the introduction of the tougher capital
rules of Basel III.
• Japan has no choice but to intervene in currency markets to prevent
the yen’s strength from decimating the nation’s industry, Barclays
Capital said. The yen reached 83.35 versus the dollar yesterday, the
highest since May 1995, threatening Japan’s export-led recovery.
Industry and jobs won’t likely return from abroad even if the
currency weakens eventually, and that prospect may force policy
makers to intervene “in the immediate future,” said Tetsufumi
Yamakawa, co-head of Japan research at Barclays. “If the yen’s
strength lasts at current levels, factories, investment and jobs will all
move overseas,” Yamakawa said at a forum in Tokyo yesterday.
• Australian job growth exceeded forecasts in August, sending the

unemployment rate down to 5.1% and driving the nation’s currency
higher on speculation the central bank will resume raising interest
rates. Employers added 30,900 workers in August, exceeding the
median forecast for 25,000 in a Bloomberg News survey of 25
economists, the statistics bureau said in Sydney today. The jobless
rate matched the lowest level since January 2009.,,
Worth a read: Michael Lewis has a field day: Beware of Greeks Bearing
Bonds (Vanity Fair)
Tiny tim geithner Says China Needs to Let Market Drive Up Yuan Bloomberg
| U.S. Treasury Secretary Tiny tim geithner said China must let the
yuan rise more quickly to show trading partners that it’s following
through on its promises [ Riiiiight! … Everyone’s just clamoring for
american advice on the global meltdown precipitated by ‘american
advice and consent’.]
Bad Math - Why The Bullish Case Doesn't Add Up Simon Maierhofer, On
Wednesday September 8, 2010, 3:19 pm EDT
1+1=2 2+2=4
The simplicity and accuracy of those calculations is undeniable. How about this
equation? Fundamental Weakness + Technical Sell Signals + Overpriced Stocks
= Lower Stock Prices. This calculation also seems to be simple and accurate.
Let's look at some equations that don't make sense.
1+1=3 or Better Earnings = Higher Stock Prices
2+2=5 or Weaker than Expected Economy = Rising Stock Prices
3+3=7 or Positive Analyst Estimates = Higher Stock Prices
4+4=9 or Technical Sell Signals = Higher Stock Prices
5+5=11 or Overvalued Stocks = Higher Prices
Too Big To Fail Global Banks Will Collapse Between Now and First Quarter
2011 Matthias Chang | Quantitative Easing spearheaded by the
Chairman of Federal Reserve, Ben Bernanke, delayed the inevitable
demise of the fiat shadow money banking system slightly over 18
months.
“I Am Jim Cramer And I Approve Of The President’s Message (Because The

Market Moved Up By 3 Points)” There are women (and men) who will
do anything for a price. Then there is Jim Cramer.
Jim Sinclair: Strap In For Gold’s Move To $1650 By January Now that
expectations for Gold at very significant prices are being offered by
various rational sources, there is one thing you can be sure of. That
one thing is $1650.
Obama Added More to National Debt in First 19 Months Than All Presidents
from Washington Through Reagan Combined, Says Gov’t Data In the
first 19 months of the Obama administration, the federal debt held by
the public increased by $2.5260 trillion, which is more than the
cumulative total of the national debt held by the public that was
amassed by all U.S. presidents from George Washington through
Ronald Reagan.
Here Are 13 Signs That We’re Actually In A Depression Right Now Gregory
White | David Rosenberg has outlined, in his latest letter, the 13
reasons with this so-called recovery is actually a depression.
Castro Admits Communist Economics a Failure
Pastor Terry Jones Calls off Koran Burning, Ground Zero Mosque May Be
Moved Pastor Terry Jones today canceled his plan to burn Korans at
his Florida church after claiming he has struck a deal with a New York
Muslim cleric to relocate the so-called Ground Zero mosque.
UN Blueprint: Dismantle Middle Class, Build World Government A UN

blueprint for putting the organization back at the forefront of global
governance alarmingly reveals the agenda to re-brand global warming
as “overpopulation” as a means of dismantling the middle classes
while using “global redistribution of wealth” and increased
immigration to reinvigorate the pursuit of a one world government.
US soldier ‘kept Afghan body parts’ At least two of the five US soldiers
charged in the deaths of three Afghan civilians had kept body parts
taken from Afghan corpses and threatened subordinates, according to
new documents released by the US army.
Random Pat-Downs Turn PATCO Into Police State “We can conduct any
kind of search we want,” said McClintock. “We could ask TSA to bring
wands or X-ray machines like they have in airports, though we don’t
think that’s appropriate for PATCO riders at this time.”
Gerald Celente Calls Out General Petraeus On Koran Warning Hypocrisy

“You hear someone like General Petraeus saying burning the Koran
could be dangerous to American troops – hey General Petraeus – how
about invading Arab countries and occupying them and killing
innocent people? You think that could be dangerous to American
troops? Oh no no, our foreign policy has nothing to do with this – they
don’t like Americans because we go to Disneyland and shop at
Walmart.”
Ground Zero Mosque Imam: If You Don’t Build It, They Will Attack Moving
the project to another location would strengthen Islamist radicals’
ability to recruit followers and will likely increase violence against
Americans, the imam said.”
Clinton Talks World Government at the Council On Foreign Relations Kurt

Nimmo | Simply substitute the phrase “American leadership” with
“leadership by the globalist cabal.”
Barack Obama: Puppet on a String Jurriaan Maessen | The United States is

unfolding an agenda that has been pushed for by international banks
in conjunction with the CIA.
Business as Usual: Fed Court Slaps Down Torture Lawsuit Against CIA Kurt
Nimmo | Once again, national security trumps the rule of law and the
corporate media provides cover.
UN Blueprint: Dismantle Middle Class, Build World Government Paul

Joseph Watson | Globalists set out agenda to re-brand global warming
as overpopulation in bid to impose carbon taxes.
Claims of Recovery But Results Nowhere To Be Found Bob Chapman | The

American public is alarmed at what they see going on.
Drudgereport: GOV'T MAKES IT UP: JOBS NUMBERS 'ESTIMATED' FOR

WEEK...
'BETTER THAN EXPECTED'...
Treasuries Tumble Following Weak 30-Year Sale...
600 Lockheed execs take buyout (Washington Post) [ Talk about having
your fingers on the economic / fiscal pulse of the nation. This should be a
new leading economic indicator which, unlike many of the others, is less
prone to manipulation. All hail, the ‘golden goose’ is dead! Drudgereport:
MORGAN STANLEY: U.S. Government Bond Defaults Inevitable … This
is a global depression. This is a secular bear market in a global depression.
disgorgement imposed. ] The move reflects a shift underway as defense
contractors scramble to prepare for Pentagon budget cuts.
Reform's unexpected fallout (Washington Post) [ Riiiiight! That reform thing
… everything but prosecution of the perps who are back to their churn
and earn ways as some of their worthless paper moving ways have
been legislatively sanctioned / adopted in the form of mark to anything
valuation of worthless assets / paper which debacle is waiting to rear
that ugly head! ] Nation's battle for regulatory reform wasn't supposed
to have this kind of collateral damage. But the new law is threatening
the existence of a day-care center, which has operated for 24 years in
the District.
U.S. drops in competitiveness (Washington Post) [ Singapore, Sweden,

… ? Don’t make me laugh! From defacto bankrupt, meaningfully lawless
america’s perspective, this fallen ranking was a gift and one must be
asking, what were they smoking (or whose money were they taking?) and
is the rest of the world really that bad off? ] Large deficits and a weakened
financial system make the U.S. less competitive in the global economy,
according to World Economic Forum's new ranking. Sweden Is A Better
Place To Do Business Than The U.S. – [Well, that part is true, but …]. ‘…
Sweden, by contrast, has “the world’s most transparent and efficient public
institutions, with very low levels of corruption and undue influence.” Which
loosely translated from wonk-speak sounds like, “You’re better off dealing
with honest socialists than crony capitalists.”’ [ True enough, but I still
don’t buy it (the rankings), especially america’s fourth place (as opposed to
lower) ranking.]
Afghans question U.S.-style capitalism (Washington Post) [ As indeed they

should inasmuch as the same is neither capitalism nor american style in
the traditional sense referenced here. Defacto bankrupt, in decline, and
pervasively corrupt, meaningfully lawless america is a nation unworthy of
emulation! ] Kabul Bank became the pride of Afghanistan's financial
system by offering the conveniences and thrills of 21st-century capitalism.
But the scene outside the bank's headquarters Wednesday was far from
that modern ideal.
Fed sees widespread slowdown of growth (Washington Post) [ Stocks rally

anyway … the ‘miracle of computerized programmed trading’ even if the
math and fundamentals don’t add up …
Bad Math - Why The Bullish Case Doesn't Add Up Simon Maierhofer, On
Wednesday September 8, 2010, 3:19 pm EDT
1+1=2 2+2=4
equation? Fundamental Weakness + Technical Sell Signals + Overpriced Stocks
= Lower Stock Prices. This calculation also seems to be simple and accurate.
Let's look at some equations that don't make sense.
1+1=3 or Better Earnings = Higher Stock Prices
Earnings season is over. Most companies beat earnings but issued cautious
forecasts. This is particularly true of the tech (NYSEArca: XLK - News) and
financial sectors (NYSEArca: XLF - News). By large, profits are still driven by
cost-cutting, not organic growth. Retail sales, which make up about one third of
the economy, continued to fall after the second quarter ended. Additionally, the
expectation that taxes will go up might have moved some companies to pull
some of next year's income into this year. This can't be good for Q3 and Q4
profits. As we've seen in January and April of 2010, positive earnings reports are
not bullish for stocks, especially if future guidance is weak.
2+2=5 or Weaker than Expected Economy = Rising Stock Prices
On July 30, the Bureau of Economic Analysis (BEA) lowered the Q2 Gross
Domestic Product (GD) growth from an estimated 2.7% to 2.4%. On August 27,
the Q2 GDP was lowered further to a jaw-dropping 1.6%. But it didn't stop there.
The real GDP for all three previous years was revised as well. It was lowered by
0.2% for 2007, it was lowered by 0.6% for 2008, and it was lowered by 0.4% for
2009. In percentage terms, the real GDP for 2007 was revised down from 2.5%
growth to 2.3%. The 2008 decrease was lowered from 1.9% to 2.8% and 2009
growth was revised up from a 0.1% to a 0.2% increase. In essence, the BEA
proved that the recession was (or is) much deeper than perceived and the
alleged recovery much weaker than previously reported. This comes as no
surprise, as the key sector of the financial debacle - real estate (NYSEArca: IYR -
News) - remains in a funk. The U.S. Census Bureau reported that the number of
vacant properties, including foreclosures, residences for sale, and vacation
homes, reached 18.9 million. Fannie Mae and Freddie Mac continue to lose
money. Has anyone ever wondered how banks (NYSEArca: KBE - News) can
make money on the same kind of loans that pushed Fannie and Freddie to the
brink of ruin? Since bad real estate loans triggered the post 2007 economic
meltdown, how can the economy recover without real estate leading the way?
3+3=7 or Positive Analyst Estimates = Higher Stock Prices
A recent Associated Press article observed that 'analysts only seem to hit the
mark with their estimates in the strongest economic times (2003 - 2006).' Why?
'The problem is that analysts get most of their information from the companies
they cover. Corporate managers have every incentive to stay positive for as long
as they can.' Is that true; as true as 1+1=2? On April 26, the day the S&P (SNP:
^GSPC) topped at 1,219, the Dow (DJI: ^DJI) at 11,258, the Nasdaq (Nasdaq:
ÎXIC) at 2,535, Bloomberg reported the following: 'U.S. stocks cheapest since
1990 on analyst estimates.' Contrary to analyst estimates, the ETF Profit
Strategy Newsletter stated that 'the potential exists that Monday's high marked a
significant top.' Since April, the broad market dropped as much as 17%. In March
2009, with the Dow below 7000 and the S&P below 700, analysts lowered their
earnings forecasts from $113 in April 2008 to $40. On March 2nd, the ETF Profit
Strategy Newsletter sent out a Trend Change Alert and recommended to buy
long and leveraged long ETFs such as the Direxion Daily Financial Bull 3X
Shares (NYSEArca: FAS - News) and Ultra S&P 500 ProShares (NYSEArca:
SSO - News).
If you care to know, until recently, analysts estimated that earnings for the S&P
500 will exceed their 2006 all-time high, in 2011. Based on that assumption,
stocks are cheap. How about that for flawed math?
4+4=9 or Technical Sell Signals = Higher Stock Prices
The 200-day moving average (MA) is one of the best-known technical indicators,
as it provides delineation between technically healthy and sick stocks. On May
20, the S&P closed below the 200-day MA for the first time since late 2007.
Every attempt to rally and stay above it has since failed miserably. On July 2, the
50-day MA for the S&P dropped below its 200-day MA for the first time since late
2007. The same holds true for mid caps (NYSEArca: MDY - News), small caps
(NYSEArca: IWM - News) and nearly all individual sector indexes. For good
reason, this is called a Death Cross. Over the past ten years, the death cross has
been accurate 75% of the time, with a 19.72% average return on six winning
trades and 6.95% average return on two losing trades. [chart] In addition to the
Death Cross, there are two head and shoulders patterns, one in the making for
over 10 years, and the other has the breadth suggestive of a major meltdown
(see September ETF Profit Strategy Newsletter).
5+5=11 or Overvalued Stocks = Higher Prices
As explained above, based on overly optimistic earnings estimates, analysts
believe that stocks are cheap. Rather than basing a future outlook on estimates,
it makes sense to use facts as a foundation for any outlook. Why add an extra
variable to what's already an unpredictable market? Ask Yale Professor Robert
Shiller, who's done extensive research on the subject of valuations, and he'll tell
you stocks are historically overvalued based on the current P/E ratio. Compare
today's P/E ratio with the P/E ratio seen at major market bottoms, and you'll see
that stocks are overvalued by more than 50%. Another gauge that doesn't lie is
dividend yields. A company's dividends are a direct reflection of cash flow and
financial health. The current yield is 2.65% for the Dow and 2.05% for the S&P.
Dividends are close to their all-time low set in 1999 (we know what happened
then). This means that companies are cash strapped and overvalued. Looking at
a long-term chart of dividend yields plotted against stock prices shows clearly
that markets don't bottom until dividends skyrocket. Just as ice doesn't thaw
unless the temperature moves above 32 degrees, the economy won't thaw and
show signs of life unless P/E ratios drop to, and dividend yields rise to, levels
seen at major market bottoms. The ETF Profit Strategy Newsletter includes a
detailed analysis of four valuation metrics, along with short-term target ranges for
stocks and the ultimate market bottom. Based on simple math and common
sense, the July lows are certainly in danger. But it doesn't stop there.
Report From Europe: Panic Amongst the PIIGS (Seeking Alpha – The Mole)
[ Sounds far from hunky-dory to me and as the wall street frauds would have you
believe and used as a rallying point this day. Total b*** s***! ] ‘U.S. stocks fell for
the first time in five days Tuesday, ending the longest streak of gains for the S&P
500 Index since July, on concern the European debt crisis may worsen and
hamper global growth. Bank of America (BAC) and Citigroup (C) fell at least 2%
as European banks slid on concern stress tests understated potential losses from
sovereign debt. Meanwhile ConocoPhillips (COP) and Chevron (CVX) slumped
more than 1.2% as crude oil fell the most in a week. But Oracle (ORCL) rallied
5.9% after naming Mark Hurd, former chief executive officer of Hewlett-Packard
(HPQ) as president. Today, despite some token buying by the ECB and a decent
Portuguese bond auction, the bond vigilantes have again been out doing their
worst pushing the Irish / German 10 year spread out to levels not seem since
1988 when the debt GDP ratio was 118% . Indeed yesterday saw the worst
single daily performance by Irish Government bonds ever in terms of spread
widening. Greece is also back in the crosshairs in response to a downward
revision to Q2 Greek GDP to -1.8% from -1.5% originally, and on news the
National Bank of Greece plans to raise Eur2.8 bln of capital. The latter may be
especially alarming in the current environment, but really reflects a desire for
extra security and also a cash hoard to potentially spend on weaker rivals.
ATEbank stands prominently in this respect. (picture)
Today’s Market Moving Stories
The stand-out mover in FX today was GBP, which rallied sharply, largely it would
seem on news that Vodafone (VOD) has sold its stake in China Mobile and
intends to use 70% of the proceeds (£4.2bn) to fund share buybacks. The
macros community had started to build GBP shorts in recent days and this M&A
flow prompted a flurry of short-covering, assisted as well by better than feared
Halifax house price data.
Irish Banking
According to the Irish Times this morning, the bank’s chairman has stated that a
statement on Anglo should be expected today. Who will make it or what the
nature of the announcement will be is not evident, but keep eyes peeled around
4pm. Recent media reports have indicated strongly that an orderly wind down of
the bank over 10-15yrs is the new preferred option. But what the markets are
really looking for is an update on the total FINAL bottom line kitchen sink cost of
the bailout and whether its closer to Eur 25bn or S&P’s recent & much criticized
Eur 35bn figure. UPDATE – SEE VERY BOTTOM OF THIS POST. ..
Japan
Japanese Finance Minister Yoshihiko Noda said he is prepared to take “bold”
action on currencies, including intervention in foreign-exchange markets, after
the yen reached a 15-year high against the dollar. “We will take bold action if
necessary and naturally that can include intervention,” Noda told lawmakers in
parliament today. “We have to use every option available as a strong yen is likely
to have a severe impact on companies.” The yen rose to 83.52 per dollar
yesterday, the highest level since June 1995, as concerns about weakening
growth in the U.S. and Europe bolstered the currency’s appeal as a refuge.
UK Outlook
A U.K. index of hiring for permanent jobs in August showed the slowest growth
pace in 10 months, KPMG LLP and the Recruitment and Employment
Confederation said. The gauge of full-time job placements dropped to 56.3 from
60.2 in July, the groups said in an e-mailed report today in London. That’s the
slowest pace since October. Readings above 50 indicate an increase in hiring.
The U.K. is bracing itself for a period of austerity as Prime Minister David
Cameron pledges to reduce the country’s record budget deficit. U.K. shop price
inflation accelerated in August as the price of food rose at the quickest annual
pace in over a year, a survey showed Tuesday. Total shop price inflation was
1.7% on the year in August and 0.1% on the month, compared with a 1.5%
annual rate and 0.1% monthly decline in prices in July, the monthly survey by the
British Retail Consortium showed. That was due to a more-than-one percentage
point rise in the cost of food. Food prices were 3.8% higher in August than a year
earlier, while food prices rose 0.2% from July. And July’s UK industrial production
figures suggest that the manufacturing sector continues to enjoy steady, if
unspectacular, growth. The 0.3% rise in manufacturing output was the third such
gain in a row and pushed the yoy rate of output growth up to a new cycle high of
4.9%. Overall industrial production saw a similar monthly gain. For now, then, the
output data are defying the rather gloomier tone of some of the recent industrial
surveys, such as last week’s CIPS report on manufacturing. But it is worth
remembering that the surveys normally lead the hard data by a few months, so it
would be no surprise if output growth were to start to weaken over the next few
months. And even if output posts similar increases in August and September,
industry won’t make as strong a contribution to GDP growth in Q3 as it did in Q2.
Overall, UK industry is still doing pretty well, but it may not last too much longer.
(picture)
Company / Equity News
• UK homebuilder Berkeley Group has issued an interim management

statement this morning covering the period from 1st May 2010 to 31st
August 2010. The group pointed out that demand for properties over the
period has been resilient, particularly in London which has a shortage of
supply and specific demand from international purchasers. Outside of
London, which is more reliant on the UK domestic economy, a lack of
credit availability and weak consumer confidence is weighing on
transactions currently.
• Barratt Developments also reported full year results this morning. The
group reported a full-year loss of £118.4m compared to a loss of £468.6m.
Market expectations were for a loss of £125m. Revenue declined by 11%
to 2.04bn with the group selling 11,377 homes during the period,
compared with 13,277 last year. The group’s operating margin increased
to 5.9% from 1.8% a year earlier. The group expects a ‘modest’ increase
in average selling price this year, however the group noted that the
outlook for new housing ‘remains challenging’. For clients looking for
exposure to a UK home builder, Persimmon is my preferred play.
• Securities firms (investment banks) around the world will cut as many as
80,000 jobs in the next 18 months as revenue growth begins to slow, said
Meredith Whitney, the former Oppenheimer & Co. analyst who now runs
her own firm. The reductions, about 10 percent of current levels, will come
after 2010 compensation payments. “The key product drivers of Wall
Street’s revenues and profits over the past decade have been in a
structural decline over the past three years,” Whitney said in the report.
“2010 marks the first year in many in which Wall Street-centric firms will go
through structural changes.”
• Vodafone’s $6.6 billion sale of its stake in China Mobile Ltd. is the biggest
divestment since Chief Executive Officer Vittorio Colao took charge in
2008. Investors want to know what’s next. Vodafone sold its 3.2 percent
stake in China’s largest mobile phone company today. About 70 percent of
the proceeds will be returned to shareholders through a stock repurchase
and the rest will be used to pay down debt, Newbury, England-based
Vodafone said in a statement yesterday.
• Nokia Oyj, the world’s biggest maker of mobile phones, has a lot riding on
its annual showcase event next week as it tries to claw back lost ground to
Apple Inc.’s (AAPL) iPhone and devices based on Google’s (GOOG)
Android software. The Finnish company is likely to focus attention at Nokia
World in London on its high-end Symbian smartphone line, including the
touch screen N8, its latest effort to take on Android and iPhone handsets.
• Google’s CEO Eric Schmidt said the company plans to extend its Web
television service from U.S. viewers to global consumers in 2011. Google
has an agreement with Sony Corp. (SNE) to launch Web TV in the U.S.
this fall, while Samsung Electronics Co. (SSNLF.PK), the world’s largest
television manufacturer, said today it may make sets run by Google’s
software to compete with Sony and Apple Inc. in the market for TVs that
access movies, shows and games online.
• The life of Germany’s nuclear power plants will be extended by up to 15
years under a deal agreed between energy companies and the
government of Chancellor Angela Merkel. Germany’s energy giants will
pay [euro]15 billion to fund research into renewable energy and Berlin will,
in return, set aside a 2000 agreement forced by the Schroder government
to wind down all nuclear energy plants by 2025.
• According to the FT, Ryanair (RYAAY) may return to the market for a
purchase of up to 300 airplanes, the Financial Times said late Tuesday,
citing an interview with chief executive Michael O’ Leary. O’Leary told the
FT his company also plans on writing to aviation authorities asking to use
a single pilot for short-haul flights, the report on the FT website said.
• Evidence emerged yesterday that the strained relations of late between
Tullow (TUWOY.PK) and the Ugandan Government over the issue of tax
arising from the Heritage Oil transaction eased somewhat based on
comments attributed to the Energy Minister. Questioned on the
Government stance regarding the recently rescinded Kingfisher licence in
Block 3A and Tullow’s ability to redress the situation, the Energy Minister
appeared to soften the Government position indicating a favorable
response should Tullow apply.
• Dana Petroleum (DNPXF.PK) offered a strong defence this morning
against the unsolicited offer of £18 per share from the Korean National Oil
Company (KNOC) and also announced the widely anticipated acquisition
of Petro-Canada’s UK assets for a cash consideration of £240m ($372m).
And finally UPDATE – Text of announcement on Anglo Irish

The Minister for Finance today briefed his Government colleagues on the
strategic options for the future of Anglo Irish Bank. The Minister conveyed to the
Government the views of the Board of Anglo Irish Bank, the Central Bank, the
National Treasury Management Agency, the Department of Finance, the EU
Commission and his own assessment of the position.The Government decided
that Anglo Irish Bank will be split into a Funding Bank and an Asset Recovery
Bank. Anglo Irish Bank has not expanded its loan book since it was nationalised
in early 2009 and this will remain the case. It is intended that in due course the
Recovery Bank will be sold in whole or in part or that its assets will be run off
over a period of time. The guaranteed position of depositors will be unchanged
by the new arrangements and no action is required of them as a result of today’s
announcement. The depositors will become customers of the Funding Bank
which will be fully capitalized and continue as a regulated bank. In order to
restore the reputation of the Irish Financial System it is essential to bring finality
to the problem of Anglo Irish Bank – our most distressed institution. The
Government’s primary objective in dealing with Anglo Irish Bank has been to
minimise the cost of this distressed bank to the Irish taxpayer. The Board of
Anglo Irish Bank submitted its preferred option to the Minister and to the
European Commission at the end of May for consideration under State Aid rules.
The board’s plan envisaged splitting the bank into an asset management
company and a new good bank. The asset management company would have
managed out over time the bank’s lower quality assets remaining after the
transfers to NAMA. The new good bank would have managed the remaining
share of the loan book, retained the bank’s deposit funding and sought new
lending opportunities to grow the bank. The Minister acknowledges the good faith
and hard work of the board in producing a credible proposal for the future of the
bank. However, the Government has concluded that this plan in its current form
does not now provide the most viable and sustainable solution to ensure the
continued stability of the Irish banking system.
Resolution Proposal
In these circumstances, the Government has decided to opt for a variation of the
board’s restructuring proposal. The Government’s decision does not affect
existing guarantee arrangements. Under the restructuring plan, the Funding Bank
will be a Government-backed/guaranteed specialist deposit bank which will
contain the bank’s deposit book. It will be a stand-alone, regulated bank,
completely separated from Anglo’s loan assets and it will be owned directly by
the Minister for Finance. This bank will not engage in any lending, but will provide
a secure home for Anglo’s depositors and any new customers who wish to
deposit their funds with it. Depositors with the Funding Bank will be completely
insulated from the future performance of the rest of the current Anglo Irish Bank
loan book. The Asset Recovery Bank will also be a licensed regulated bank. Its
dedicated focus will be on the work-out over a period of time of the assets not
being transferred to NAMA in a manner which maximises the return to the
taxpayer.
Costs
The Government believes that it is essential to identify, with as much certainty as
possible, the final cost for the restructuring and resolution of the bank. This will
underpin international financial confidence in Ireland. Accordingly, the Central
Bank will determine the appropriate levels of capital needed in both institutions.
Its decision will be announced by October.
EU Commission
The Department of Finance has conducted intensive discussions with the EU
Commission in recent weeks about the future of Anglo Irish Bank. The Minister
for Finance met Commissioner Almunia last Monday to discuss the issue. A
formal detailed plan is being prepared for submission to the Commission for
approval.
The Minister said: “Today’s decision by the Government will provide certainty
about the future of Anglo Irish Bank. Resolution of this, our most distressed
institution, is essential to the promotion of confidence and stability in our financial
system.”
8th September 2010
ENDS
Brian Meenan
Press Office
PH: 6045875
email: brian.meenan@finance.gov.ie ‘
Here Are 13 Signs That We’re Actually In A Depression Right Now Gregory
White | David Rosenberg has outlined, in his latest letter, the 13
reasons with this so-called recovery is actually a depression… David
Rosenberg has outlined, in his latest letter, the 13 reasons with this
so-called recovery is actually a depression.Rosenberg sums it up like
this:
This is what a depression is all about — an economy that 33
months after a recession begins, with zero policy rates, a stuffed
central bank sheet, and a 10% deficit-to-GDP ratio, is still in need
of government help for its sustenance.
So Broke We Can’t Pay Attention Howard Beale | You spent the whole day
yesterday worrying about today, and now that it’s here, was it worth
it?
The Financial Industry Is A ‘Gigantic Parasite’ We Don’t Need Anymore

Vincent Fernando | Strong words from ex-Morgan Stanley Andy Xie.
Deflation Never Had A Chance What the deflationists fail to acknowledge is

that in a purely fiat monetary system deflation is a choice not an
inevitability. To put it in simple terms, if a government is willing to
sacrifice its currency there is absolutely no way deflation can take
hold in a modern monetary system.
There Are Now Enough Vacant Properties In China To House Over Half Of
America On the assumption that each flat serves as a home to a
typical Chinese family of three (parents and one child), the vacant
properties could accommodate 200 million people, which account for
more than 15% of the country’s 1.3 billion population.
Drudgereport: BLIAR BUSTED: Former UK PM's autobiography includes dialogue from

meeting with 'Queen' -- taken from fiction movie! Developing...
REV: THE BURNING WILL PROCEED...
'Meant to Be a Warning'...
Vatican: 'Outrageous'...
NYPD: 'Dangerous'...
Holder: 'Idiotic'...
Clinton: 'Disgraceful'...
Palin: 'Unnecessary provocation'...
FBI: Retaliation 'Likely'...
Petraeus Speaks Out on Quran Burning...
Endangers Troops...
Pastor Says Church Not Deterred...
Hartford City Council meetings to begin with Muslim prayers...
2 SOLDIERS KILLED IN IRAQ, 9 WOUNDED
ADDICTED TO STIMULUS: $50,000,000,000 MORE
Dems wary of WH's huge new spending plan...
Obama takes aim at Boehner... 'They talk about me like a dog'… [ If the
shoe fits ... President Obama calls African-Americans a ‘mongrel people’
President Obama waded into the national race debate in an unlikely setting
and with an unusual choice of words: telling daytime talk show hosts that
African-Americans are “sort of a mongrel people.” ]
'They talk about me like a dog'...
FLASHBACK: President-Elect Obama: Mutt 'Like Me'...
'Even liberal elites concede that Obama's presidency is crumbling'...
BARONE: Sinking with Obama, Democrats plan political triage...
Muslims Protest Plans to Burn Quran...
'Death to America'...
Fears rise as EU nations aim to raise borrowing...
Roubini: More than 400 US Banks Will Fail...
'COMBAT OVER': US TROOPS BATTLE IN BAGHDAD...
Why the Furious Bear Will Come Back - Simon Maierhofer, On Tuesday
September 7, 2010, 4:34 pm ‘The Top Ten List has become a staple of David
Letterman's Late Show. We don't quite have the space to discuss ten reasons
why the bear market isn't over (if we did, we'd probably put you to sleep), but
we'll take a crack at a Top Five List. Without further ado, here it is:
#1: Forget About Earnings
Using past earnings numbers to project future performance is like basing your
Roulette bet on the numbers that won previously… [chart]
#2: Budget Deficits
The 2011 U.S. deficit projection for 2011 was raised from $1.2 trillion to $1.4
trillion...
#3: Banks - Nothing but Fluff
…Fundamentally, however, nothing had changed… 'The house of cards was

much bigger and started to stretch beyond Wall Street…The government
postponed the collapse of the 'whole deck' thus far. As of recent, however, some
disturbing information has surfaced. Bank of America admitted to hiding bad
assets and Goldman's 82% profit drop shows that the days of fat trading profits -
such as seen in Q3 and Q4 2009 and Q1 2010 - are over… It doesn't take an
economist to know that taking money from your savings account and transferring
it to your checking account can't be counted as income.
#4 Real Estate
In late July, the market allegedly rallied because new home sales jumped 24% to
330,000 units in June. We feel the urge to put this number into perspective. May
sales were revised from an original 300,000 units to 267,000 units - this is an all-
time low. Bouncing off from the lowest level on record, new home sales did
indeed increase 24%. Is that reason to celebrate though? Chances are the
330,000 will be revised lower in the future. Regardless, 330,000 homes sold
pales in comparison to the 1.4 million homes sold in 2005.The U.S. Census
Bureau reported that the number of vacant properties, including foreclosures,
residences for sale and vacation homes, reached 18.9 million. It shouldn't be too
long before those bleak fundamentals are reflected in the performance of real
estate ETFs like the iShares DJ US Real Estate ETF (NYSEArca: IYR - News)
and SPDR DJ REIT ETF (NYSEArca: RWR - News). ..
#5: Consumer Confidence
During periods of economic expanse the Conference Board's Consumer

Confidence Index has averaged a reading above 100. Recessions average a
reading of 71. The current confidence reading is at a dismal 50.4. The chart
below paints this sad picture. [chart] Consumer spending is said to make up
about three quarters of the economy. How can the economy recover without
participation by the consumer? It can't. That doesn't mean stocks can't rally
temporarily. Such a disconnect between the economy and Wall Street's dream
world tends to be short-lived.
Sentiment Confusion
… More importantly though, the optimism surrounding the April highs is indicative
of a major market top, a top that implies a decline much deeper than the 20%
we've seen thus far. This conclusion is certainly supported by the above-
mentioned Top Five list and many other indicators…
‘We are still determined’: U.S. pastor vows to carry out Burn-a-Koran day
on Sept 11 despite death threats As Gerald Celente said on the show
today, General Petraeus’ comment that burning the Koran could upset
Muslims is the height of hypocrisy. Did Petraeus ever consider the
notion that bombing and occupying their countries also wouldn’t go
down too well? This whole issue is about manipulating us into a
helter-skelter race war as a distraction from the economic collapse
and to rally the country around another war in the middle east.
NYPD Top Cop: Planned Quran Burning Is “Dangerous” [ I personally

wasn’t going to comment on this and let others draw their own
conclusions; especially, as pointed out by Celente, when america’s
been bombing and killing civilian muslims in droves, based on lies,
and even for drug trade pre-eminence, etc.. After all, it’s not too
difficult to dredge up memories of other historical book-burners, ie.,
that Austrian house-painter with a brush mustache, etc.. But really,
isn’t this guy jones a neo-con dream come true? I think he’s just a
publicity seeking, mentally unbalanced dummy. He even looks a bit
like john bolton. But, in america, mental unbalance has become the
new normal. ] Police Commissioner Ray Kelly sided with Gen.
Petraeus last night, calling a planned burning of Qurans on the
anniversary of Sept. 11, “unwise” and “un-American” during the 9/11
Museum and Memorial’s fundraising dinner at Cipriani Wall Street in
Manhattan Tuesday night.
TSA Plans to Use Homeboy in Ball Cap “Avatar” on Naked Body Scanners
Kurt Nimmo | Scheme ignores the obvious health risk of radiation
technology.
9/11 Truth is Still the Issue James Corbett | Where does the 9/11 Truth
Movement stand and where it is heading?
50 Mind Blowing Facts About America That Our Founding Fathers Never
Would Have Believed The Economic Collapse | The United States is a
much different place today than it was in 1776, and unfortunately
many of the changes have been for the worse.
Al-Qaida and Taliban threat is exaggerated, says security thinktank

Guardian | Strategy institute challenges idea that troops are needed in
Afghanistan to stop export of terrorism to west.
Rioters Attack LA Police Station After Death of Immigrant New York Daily
News | Hundreds of demonstrators took to the streets for the second
night in a row in downtown Los Angeles Tuesday night to protest the
police shooting of a
Petraeus: Neocons favorite general Russia Today | Ten Afghan civilians

were killed Thursday in a NATO air strike on three vehicles carrying
civilians, President Hamid Karzai said in a statement.
Obama infrastructure proposal may hit election year wall (Washington

Post) [ It has nothing to do with the election at this point, although the
motivations for same are suspect. It’s really a matter of political
capital; and wobama has NONE! Zero! Zed! Nada! He’s totally and
unequivocally, DONE! ] What seems virtually certain is that the
proposal for initial spending of $50 billion on planes, trains and
automobiles most likely will wait until next year.
Obama to unveil more stimulus, tax breaks for business (Washington Post)
[ It really is quite astounding how quickly the tides have changed
against wobama. The amazing thing is that as president he had the
easiest act in the world to follow; viz., dumbya bush. He blew that
royally. How? Why? Make no mistake, wobama is as over as over can
be. Even his dem compatriots are saying of this desperate act … too
little, too late. And yet, this truth is seen from their limited perspective
only with regard to the election, when in fact, this is as true
economically as it is long-term for the nation. All he had to do was
what he said he would do; and, that especially applies to the self-
destruct, ill-advised ramped up war spending in Afghanistan. Wobama
is undoubtedly the biggest b*** s*** artist in the history of this nation
and really bought his own failure by not remembering what got him
elected in the first instance in terms of popular vote (the ultimate
source of electoral victory a point for reflection in light of ever more
evident quid pro quos, ie., no wall street prosecutions, ramped up war
spending, etc..]
To consumer advocates, antitrust enforcement lacking (Washington Post) [

Unfortunately, at least for those who still care, america’s long past the
glory days of the trust-busters. In fact, america’s long past the days of any
meaningful law at all. See infra, RICO Summary to FBI Under Penalty of
Perjury, which includes how sam alito as u.s. attorney parleyed cover-up
and obstruction of justice et als into fed.ct.appeals and u.s.supreme court
lifetime appointments. The corruption’s incredible but very real. ] The
Justice Department's antitrust division has yet to exercise its signature
power: to bring a case against a corporate titan suspected of abusing its
dominance.
Pearlstein: The bleak truth about unemployment (Washington Post) [ When

I saw this headline I felt certain that Mr. Pearlstein would be discussing the
reality that the real unemployment rate exceeds 20% with that ‘stopped
looking’ fudge factor removed as merely a convenient subterfuge. But, alas
and lamentably, I was wrong. To be sure, Mr. Pearstein’s topic is important
and probably more optimistic than anyone deserves to be in light of some
grim realities that most dare not mention with the defacto bankrupt nation
just barely surviving on that wonder drug called hopium (see infra,
DeCiantis: ‘Students of behavioral finance must have had a field day this
past week. In the wake of a month of dismal economic reports, Wall Street
got its risk on with a few better than expected reports on manufacturing
sentiment, home sales, and employment. Hopium, it appears, is a powerful
drug. [ HOPIUM … YEAH! I KIND OF LIKE THAT METAPHOR WHICH RINGS
TRUE! ] ). As for Mr. Pearlstein’s ‘how to make the american economy
competitive again.’, I liken this Gordian knot of a problem to one for which
magic mushrooms, along with hopium, are as far as reality will permit in
terms of even imagining such could possibly be the case. You cannot
unring the bell on the irrevocable structural changes wrought by the
greediest, most corrupt, and, though often wrapped in the flag, treasonous,
lawless elements of american society; governmental, quasi-governmental,
and private business (which included the necessary technology transfers).
That’s reality! ]
September: In Like a Lion, Out Like a Lamb DeCiantis: ‘Students of

behavioral finance must have had a field day this past week. In the wake of
a month of dismal economic reports, Wall Street got its risk on with a few
better than expected reports on manufacturing sentiment, home sales, and
employment. Hopium, it appears, is a powerful drug. [ HOPIUM … YEAH! I
KIND OF LIKE THAT METAPHOR WHICH RINGS TRUE! ]
Economists spent August cautiously lowering their outlook for the second
half of the year as Obama's "recovery summer" failed to bear fruit, the
Federal Reserve failed at both of its twin mandates (stable prices and full
employment), and bullish analysts failed to convince investors that the
market was ready to climb to fresh highs. As a result, stocks ended the
worst August in nine years with rising calls for stimulus and fears of the
dreaded double-dip.
Then came September. In like a lion, surging nearly 3% on the first trading
day of the month on the heels of a better-than-expected survey by the
Institute for Supply Management of the manufacturing industry.
Representing (statistically speaking) nearly 30% of the US economy, the
number was expected to fall after a series of similar Fed surveys from
around the country indicated that American heavy industry -- that engine of
growth over the last two quarters -- was finally loosing steam. Instead, it
leapfrogged every estimate on The Street to post its first advance since
May. Granted the rise was modest, but the surprise factor flipped the all-
important risk switch and a reinvigorated camp of bulls poured back into
the market, convinced that their creeping suspicions about a slip back into
recession were all just a bad dream.
[chart]
Outside of a few trading irregularities, the data itself forced the bears to
take pause and reflect on the substance of the report. The economics team
at Goldman Sachs may have summarized it best:
"Without question, the report was better than

expected...[but] the details of the report actually
reinforce the case for further slowing in this
sector. As shown in Exhibit 2, the gap between
the indexes for new orders and inventories, an
important lead indicator of movements in the
composite index and in industrial production,
almost disappeared in the August report. As
recently as May, this gap was a robust 20.1 index
points. The clear—if uneven—downward trend in
this indicator actually strengthens the case for a
decline in the composite index in coming months.
The bottom line: US manufacturing output may
still be expanding, but the risk that these goods
are winding up on the shelf has increased."
More telling, however, was the dissection by semi-permabear David

Rosenberg that helps to put the August print into context:
In a nutshell, ISM did smash consensus

expectations in August but the composition left
much to be desired. The coincident indicators
firmed but the categories that actually lead
manufacturing activity softened across the board.
As we said at the outset, the ISM index was at

complete odds with the regional surveys.
Philadelphia, New York, Milwaukee, Richmond
and Kansas City were all down. Dallas and
Cincinnati were up. In the past, when we had a 5-
to-2 ratio to the downside, the share of the time
ISM managed to eke out an advance was 4%.
It would be wise to lean against the market's initial

dramatic reaction to this data. The ISM
orders/inventories ratio is a decent leading
indicator and it sank to 1.033x from 1.065 in July.
1.278x in Julne and 1.441x in May. The hidden
nugget in today's report is that this ratio has
decline to levels not seen since February 2009.
And the last time it fell this fast to this type of
level was in the September to December 2007
period (1.03x from 1.30x) when once again, there
was tremendous confusion and intense debate
over whether it was a recession/soft patch in the
economy and the bear market/corrective phase in
equities.
Suffice it to say that in the past 30 years, with

eleven observations, ISM dropped to 47x in the
three months after such a decline in the
orders/inventory ratio to such a low level as is the
case today. That is the average, the median, and
the mode. The highest ISM reading three months
hence was 51.9, so if past is prescient, today's
data was likely a huge headfake.
[chart] The ISM report also overshadowed another important data release
on construction, but we'll get to that later. The next feather in the bulls' cap
was a pair of data points on residential real estate -- the sick dog of nearly
every major developed economy in the G8. The first revealed a rise in July
pending home sales (5.6%) after a precipitous drop in May (30%) and a
further drop in June (2.6%) as an $8,000 tax credit expired. Analysts
collectively expected a drop of 1%. Needless to say the markets were
pleasantly surprised.
A closer look at the data reveals two key narratives not captured by the
popular media or trading desks. First, it's important to contextualize the
"rise" in pending sales by looking at a longer time series that tells the same
story (this particularl series only goes back to 2005). The graph below
speaks for itself.
[chart]
Second, the reported data may suffer from a disease common to many of
the economic statistics released every day: Seasonal Adjustment Disorder
(SAD). Given the inherent seasonality of the home buying cycle (higher
during the summer when kids aren't in school, lower in winter when the
weather is less than ideal for moving) economists at the National
Association of Realtors make adjustments for these factors to make
monthly comparisons easier. However, that can sometimes mask changes
in the raw data, as was the case with the August NAR release. As
Rosenberg suggests:
While the increase in pending home sales is

encouraging, we did dig through the data and
found that the not seasonally adjusted numbers
(the raw numbers) fell by 7%, with declines across
the country. This makes sense as July is usually a
slower month for homebuying activities.
We wonder if there is a chance that the seasonal

adjustment factors could be overstating the
monthly increase given that we have seen such
huge volatility in the housing numbers in the
recent year making the seasonal adjustment
process more difficult. Recall that Standard and
Poor’s issued a note about the Case-Shiller home
price index saying that “the turmoil in the housing
market in the last few years has generated
unusual movements that are easily mistaken for
shifts in the normal seasonal patterns, resulting in
larger seasonal adjustments and misleading
results.
Another data point that drew a lot of bullish attention was Tuesday's
housing release on prices. After a few dismal years, any news that isn't a
decrease is more than welcome by just about everyone, rich and poor,
domestic and international. Tuesday's Case-Shiller print was no exception,
as home prices "jumped"...by a mind-numbing 1%...two months ago in
June... on a rolling three-month basis (i.e. April through June).....still
reflecting the last dying gasp of the home buyers' tax credit. Again, a little
context:
[chart]
And how the markets rallied.
Friday's bulls, reinvigorated after a powerful (and low volume) start to the
month, launched their attack on a new front: employment. Long a forgotten
weapon in the bulls' arsenal, private payrolls climbed by a larger-than-
expected 67,000 in August, beating expectations for a 45,000 gain. At that
rate, it would only take a little under 9 years to rehire the 7,000,000 people
who lost their jobs during the recession but have yet to find new work
(assuming no increase in population). Only 7,000 permanent government
jobs were shed during the month, though economists expect that number
to rise as state and local governments face crippling budget deficits. The
other 114,000 new claims represent the last major layoff of temporary
census workers, who rejoin an army of job seekers that have collectively
become one of America's most structural economic challenges.
[chart]
Obviously plenty of reason for the markets to celebrate.
Now for the bad news.
On the same day as the ISM Manufacturing survey was released to
considerable fanfare, July's construction spending was released by the
Census Bureau and confirmed a worsening year-over-year decline of nearly
11%. Month over month, spending was down 1% in July and suggests
another downward revision to third quarter GDP.
More from Goldman:
Construction outlays dropped 1% in July from a level that was revised
down a whopping 2.7%. This dismal construction report flew below the
market's radar, as it normally does since it usually comes out alongside the
ISM manufacturing survey. One might dub construction outlays the Rodney
Dangerfield ("I don't get no respect") of US economic indicators. Of all the
data released this week, it has the most direct bearing on the real GDP
"bean count" next to the monthly consumption report. Hence, since
consumption was only modestly better than expected, a case can be made
that third-quarter growth might actually be lower now than we thought a
week ago despite all the upside surprises.
[chart]
Wednesday also revealed that another source of bullish sentiment in July
may have been a little premature: auto sales. After months of steep retail
incentives and easy year-over-year growth comparisons, cash- and credit-
strapped Americans returned to a more cautious consumption path. As the
second largest leveraged purchase in a typical household, auto sales
reflected that shift. Only Chrysler, the runt of the litter, managed to squeak
out an increase in sales in an otherwise sluggish retail environment.
[chart]
Finally, on Friday the latest ISM Non-Manufacturing survey was released
and was every bit as disappointing as everyone expected the
manufacturing survey to be. The index slowed to 51.5% in August from
54.3% in July and 55.4% in May, and its components were even less rosy.
From Econoday:
A new optimism after today's jobs report -- not so

fast. The ISM non-manufacturing report shows
broad and deeper-than-expected slowing. New
orders at 52.4 are down more than four points in
August for the slowest rate of month-to-month
growth so far this year. Employment, which in this
report includes government workers, is signaling
contraction, at 48.2 for a nearly three point decline
for the worst reading since January. The
composite headline index at 51.5 is down exactly
three points for what is also the worst reading
since January. Backlog orders are basically flat,
export orders are down, deliveries are showing
less delays, and general business activity is
slower. Imports did rise as did raw material
prices.
[chart]
In response, the market cut its morning gains in half, only to rally into the
close to retest the morning highs. What makes this week's schizophrenic
ISM interpretations so dangerous is that the upside surprise on Wednesday
was based on data that captures roughly a third of the economy, while
Friday's non-manufacturing disappointment approximates activity in
roughly two-thirds of the economy. So of course the markets ended the
week up 3%.
Once again, Goldman's analysts try to walk a fine line between sell-side
optimism and buy-side skepticism:
On the whole, it's been a good week for US
economic data...reports on factory activity,
pending home sales, and the labor market have
surprised to the high side. In fact, some of these
readings have benefited from positive judgmental
adjustments, as factors not readily apparent in the
headline indicator have also been better than
expected. However, this does not mean that the
outlook for US economic activity has improved,
except insofar as the better-than-expected news
eases market worries about a "double dip". At
least some - perhaps most - of the improvement ...
reflects what Paul Krugman once called, in a
much different context, "The Age of Diminished
Expectations". In the current setting, we note that
several prominent forecasters have marked down
forecasts of economic activity and therefore may
also have lowered their sights on the higher
frequency indicators.
Interpretive bias is inevitable when any new data is released. Optimists will
quickly find a silver lining in any dark cloud, and pessimists will pick apart
even the most robust reports of growth and tease out a bearish narrative.
Investors should think twice when these competing forces fall out of
balance -- when markets are as unabashedly bearish as they were in late
2008, or as unapologetically bullish as the were during the second half of
2009.
If the first few days of September are any indication of how the month will
unfold, we may be back on the perma-bull track. When disappointing data
is released, investors cheer for more fiscal and monetary stimulus. When
data is surprisingly positive, investors cheer at the prospect of a
sustainable, organic recovery. As we saw in early 2010, this "heads I win,
tails you lose" mentality is particularly vulnerable to rapid and substantial
correction, and a September that entered as a lion may finish the third
quarter as a lamb.
Disclosure: Long safety, short risk (no specific stocks mentioned)’
Correlation and the S&P 500 [ I really think this author was a bit too
diffident in talking about the computerized churn-and-earn scam which
eats away at the real economy , but the discussion highlights at least this
immense problem area ] ‘The immense correlation between the market, and
almost all risk assets on Earth is not a new subject to FMMF readers. [Jun
30, 2009: Bloomberg - Correlation Among Asset Classes Highest Ever] I
beat this dead horse monthly, mostly out of abject frustration. [Sep 2, 2010:
Why Bother with Individual Stocks in the Perfectly Correlated Market?] I
don't have an issue when the market is up 2-3% or 90% of stocks move in
the same direction, it is all these days the market is up or down 0.7% when
it drives a person nuts.
Friday, for example, every position I had but one was up. As I type this
every position but one is down.
This correlation madness started to become an issue in 2007 as we were

told that hedgies control 40%(ish) of each day's trading volume. As I said
then, since mutual and pension funds are relatively staid players, the 'fast
money' is the marginal buyer, and 'hot money' in the form of hedge funds -
especially of the quant variety - are the marginal buyer. The problem now is
they seem to be the only buyer as equity fund withdrawals continue on
pace as the retail guy floods into bond funds.
So we have a market dominated by computers trading to computers, all

using related algo's - happy, happy, joy joy. Now we hear things such as
60-70% of trades flow through these players... and since EFTs are the
weapon of choice, computerized trading of EFTs have taken over the
market. [Jun 29, 2010: Correlations Among Asset Classes Reach Ever
Higher Extremes as HAL9000 Algos Dominate Life] The SPY ETF is now
about 9% of ALL volume as of last check, and we had a time about 7-8
months ago where Citigroup (C), AIG (AIG), Fannie (FNMA.OB), and Freddie
(FMCC.OB) were 40% of all volume. Pathetic.
Frankly, it makes the market a frustrating and 'less fun' place. The market
used to be a four-dimensional jigsaw puzzle, comprised of fundamental,
technical, psychological, and 'animal spirits.' Now it's just the dumbed
down two-dimensional Etch a Sketch. Shake it at 4 pm every day, because
it has no memory from day to day. Sure you can adjust (in fact you must
adjust) if you plan to stick around, but when everything is a 1:1 correlation,
it simply reduces the market to 'stoopid' and coming in each day, checking
your brain at the door, and staring at the S&P 500 chart trying to guess
where it will be in 3 hours, 3 days, and 3 weeks gets to be boring. [Jul 15,
2010: WSJ - Correlation Soars on S&P 500 Shares]
But this is the casino market we have built, and I don't see anything
changing anytime soon. The other issue is it makes it so much more
difficult to outperform the market. Surely there are a handful of stock
names that still outperform (or underperform) but with almost everything
swaying in the exact same direction as the market, creating alpha is
difficult. Most of the performance nowadays is not about stocks, but due to
calling turns in the greater market - increasingly hard to position for as you
scale in size. Especially when the majority of the turns are due to binary
reactions to economic reports or Fed announcements - it's simply placing
your bets on red and black, not a stock market.
I've written about said frustration in the past amongst the "human"
hedgies, [July 8, 2010: Hedge Funds "Frozen in Headlights" as BiPolar
Market with 1:1 Correlation in All Things Not Named U.S. Treasuries
Causes Confusion] and this is taking a toll on the mutual fund managers as
well.
One of my big beefs with the mutual fund industry is that many players -
especially in the bigger funds - are closed index funds. They all have super
cool names but almost anything in 'large cap value' or 'large cap growth'
were hybrid closet indexers. They basically flip an Exxon (XOM), Intel
(INTC), or a Microsoft (MSFT), with a Walmart (WMT), Verizon (VZ), or a
Cisco Systems (CSCO) -- change the order, weighting, and indeed are able
to charge a nice fee for doing nothing other than being the S&P 500 with a
small twist. I cannot tell you how many 401k plans I reviewed for people,
where I went to look at the top 10 holdings of the 12-15 mutual fund
choices and 90% of them were identical (just in different order in
weightings!). The statistic of 0.99 correlation amongst the S&P 500 and
many of the largest funds is quite remarkable and points to my 'closet
index' beef, but with the mechanics of our new paradigm market, it has
taken it to a whole new level. It also says a lot of people are wasting their
money paying management fees for what is an S&P 500 ETF clone.
That said, even with the closet index situation that has been growing for a
decade+ you used to be able to try to outperform if you plied your trade in
small or medium caps (or international markets), but the HFT + EFT = GLEE
environment we now live in has made that increasingly moot, since most of
those stocks now move in unison as well. If your stock is not in a major
EFT it generally sits ignored with low volume... if it IS in an ETF than it
doesnt matter the company specifics - as long as the algo's are buying (or
selling that ETF) as flavor of the day, every component in that ETF is a
winner (or loser)! Stoopid is as stoopid does in the market with 1st grade
logic.
One gentleman I've admired for many years is Will Danoff at Fidelity
Contrafund. [Sep 9, 2008: Will Danoff in Kiplinger Magazine] His fund has
been huge in size for years on end (I'm talking multiples the size of the
biggest hedge funds - Contrafund is now up to $62 BILLION), yet he has
been able to somehow outperform his peer group (and until the past 5
years the S&P 500) by a wide margin, mostly by being somewhat
contrarian. This despite holding many positions and not being extremely
concentrated - a feat I find quite remarkable since once you start owning
200-250 positions I don't know how you can beat the market over time.
(Contrafund owns 445 positions as of last quarter!) Danoff is highlighted in
this piece, which is why I mention him - he is no dummy.
Via Bloomberg:
• Fidelity Investments’ William Danoff, the stock picker who led the
Contrafund to benchmark- beating returns, isn’t looking very
contrarian these days. Danoff’s $62 billion Contrafund, which seeks
to beat the market by picking stocks whose value hasn’t been fully
recognized, has tracked the Standard & Poor’s 500 Index more
closely this year than in any year during its four-decade history.
• “Danoff usually finds ways to go against the grain, but these days
there isn’t much that’s contrarian relative to the macro theme,”
Adviser Investments’ Lowell said. “This is a trendless market and it’s
not providing him any room to break away from the S&P 500.”
• Investing abroad hasn’t helped stock pickers like Danoff because
correlation has shot up even between regions.
• Danoff isn’t alone. Six of the 10 largest U.S. stock funds show
correlations of 0.99 this year, meaning they moved almost
completely in sync with the market. Managers are struggling to stand
out and attract new money as fear of another crisis prompts
investors to move in and out of markets without discriminating
between securities, industries or geographies.
• Robert Doll, BlackRock Inc.’s chief equity strategist, said while
stocks moved in lockstep before, this is the longest he has seen
correlation persist across markets. “We were expecting 2010 to be
the year when stock selection would add value, but that hasn’t been
the case.”
• Doll says even the most high-quality stocks have been hurt among a
larger sell-off in risky assets. “We’ve scratched our heads many
times during this year as the macro picture is driving everything,”
Doll said. “It can be frustrating along the way, but we’re just focusing
on the fundamentals and eventually we’ll get paid for it.”
• The correlation between the U.S. equity benchmark and its individual
members was 0.81 in the 50 trading days through July 7 and has
since remained close to that level. That’s almost twice the historical
average of 0.45 over the past 30 years.
• The increase in correlation is making it difficult for actively managed
funds to beat their benchmarks and produce better returns than
lower-cost index products. “You can’t pick any mutual fund, even if
has previously been a winner, and expect it to outperform in this
market.”
• Mohamed El-Erian, the chief executive officer of Newport Beach,
California-based Pacific Investment Management Co., says investors
have a “risk-on/risk-off” attitude that leads to sometimes “violent”
swings, such as the sell-off in markets worldwide on Aug. 11, after
the Federal Reserve indicated that the economic recovery had lost
momentum. “We were particularly struck by the size and correlated
nature of the market moves,” said El-Erian.
• Correlation may be linked to the increased use of exchange-traded
funds and index funds in the stock market, especially those that
focus on particular industry groups, said Brian James, co-director of
equity research at Boston-based Loomis Sayles & Co. Assets in U.S.
ETFs have grown to more than $821 billion from $608 billion at the
end of 2007, according to Investment Company Institute. “It is almost
axiomatic that if you have an increased presence of single-purpose
ETFS and futures traders, it moves stocks in one direction,” said
James.
• Correlation has been particularly pronounced for companies with
larger market capitalizations, and for the larger funds. James said
that 90 to 95 percent of large-capitalization stocks have tended to
move in the same direction this year, up from about 70 percent prior
to the 2008 financial crisis.
• The largest U.S. stock fund, the $148 billion Growth Fund of America,
has seen correlation increase to 0.99 this year, from 0.84 in mid-2008.
For the $37 billion Dodge & Cox Stock Fund, run by San Francisco-
based Dodge & Cox, the correlation measure was also 0.99 this year,
compared with low of 0.81 prior to the height of the crisis in late
2008.
Disclosure: None’
Obama seeks $100 billion business tax credit (Washington Post) [ All just
monopoly money now! And, of course, pre-election talking points as
war spending ramps up in Afghanistan. Sounds like … uh … uh …
plan? Bankruptcy plan? Drudgereport: MORGAN STANLEY:
Government Bond Defaults Inevitable … ]
Economic events for this week (Washington Post) [ Well, I’ll stick with
nobel prize winner Krugman (infra) among other similar dire but
realistic forecasters who, beyond the spin and fake market-frothing
data (especially so close to the mid-terms) have a track record of
being right when everyone else was ebulliently wrong, mr. fraudulent-
wall-street-glass-half-full-though-empty. ] After a busy week of
economic data, this one should be quieter, offering the Federal
Reserve's compilation of anecdotal information on the job market and
new details on trade.
Obama defends policies and offers new proposal (Washington Post) [ No

you can’t wobama … b*** s*** everyone again! ‘Yes, we can … NOT!’ That
dog don’t hunt anymore wobama. Drudgereport: Obama takes aim at
Boehner... 'They talk about me like a dog'… [ If the shoe fits, wobama …
keep gearing up Afghanistan … sounds like a plan]... ]Faced with twin
challenges of boosting the economy and saving congressional seats, the
president tries to do a little of both on Labor Day.
Krugman: It's All Downhill From Here Cullen Roche Love him or hate him
Paul Krugman has been awfully right with regards to the macro picture in
the last few years. He’s one of the rare economists who had the foresight to
see the housing bubble and the likelihood of economic downturn that
would result from it. Krugman recently caused a stir when he said the US
economy was headed for the third depression. He isn’t back down from
that outlook:
I’ve had a couple of conversations lately with people who

follow politics and public affairs, but aren’t that close to the
economic discussion — and I’ve discovered that there are two
comforting delusions still out there.
Delusion #1 is that we’re on the road to recovery, just more

slowly than we’d like; to be fair, the White House keeps saying
this.
But it’s not at all true. GDP is growing below potential;

employment, even if you focus just on private employment, is
growing more slowly than the working-age population. If you
ask how long it will take us to return to, say, 5 percent
unemployment on the current track, the answer is forever.
Delusion #2 is the belief that the stimulus may yet do the trick,
because there are still substantial funds unspent. I tried to
deal with this last year. The level of GDP depends not on total
funds spent, but on the rate at which funds are being spent,
which has already peaked; GDP growth on the rate of change
in the rate at which funds are being spent, which peaked last
year. It’s all downhill from here.
If you can ignore the schizophrenic market for just a second it’s hard to
reject Krugman’s macro outlook. The private sector has been running on
fumes since the debt bubble burst in 2007. The government’s extraordinary
actions helped bolster the economy, but merely papered over what was a
very weak private sector. As we see the government step aside it’s difficult
to imagine that the weakness at the private sector won’t again be exposed
for what it really is.
Government Bonds: Can the U.S. Maintain Confidence in Its Debt? Cliff
Kule Massive, unsustainable government debt - it's everywhere. Especially
in America. At some point, will the world begin to lose confidence in
America's growing debt? Will interest rates then skyrocket? Will a Greek-
style crisis in U.S. government bonds then ensue? Is there any way out?
America can claim its debt problems are not as bad as some countries. But
that ignores some important points:
1. See an interesting chart on how America's financial condition is

worse than several other countries.
2. Even the most respected bond manager in the world, Pimco's Bill
Gross, believes there are several countries including the U.S. whose
financial ratios are in dangerous territory - the "ring of fire".
3. A loss of confidence in the U.S. dollar and U.S. debt could bring a
"Greek-style" crisis to the whole world. Consider that the U.S. dollar
has been the world's reserve currency since 1944; it has been
accumulated by the whole world as a form of trusted and secure
savings. There are trillions of dollars of U.S. government debt
accumulated as reserve savings by banks around the world (see
chart below courtesy of Hugo Salinas Price) and realize that most
reserves are held as U.S. government bonds. A loss of confidence in
the U.S. dollar and in the ability of the U.S. to service its growing
debt could trigger an epic disaster. [chart]
Is there any way for America to maintain the confidence?

One way would be for America to become fiscally prudent, simply stop
creating money and debt, let the massive deflationary forces of credit
contraction and consumer de-leveraging run their natural course. This
would cleanse the system of toxic debt. It would also clearly and
immediately cause another Great Depression.
Another way would be for America to simply print more money, create
more debt, blindly following Keynesian economics that brought us into this
mess in the first place. Attempt to "inflate away" the debt without losing the
confidence of investors that buy the U.S. government bonds. This has been
tried many times throughout history with disastrous consequences.
The chart below (courtesy of Economic Edge) shows how increases in debt
are recently giving less and less “umph” to economic GDP growth to the
point now of negative GDP growth. Eric Sprott has produced an excellent
study suggesting that 9 cents of "growth" is coming with every dollar we
go deeper into debt. Bud Conrad has produced calculations that are
equally discouraging. This massive debt-driven money printing would
therefore likely lead some form of hyperinflation in a futile attempt to
stimulate economic growth.
This leaves one other option.... a direction that is hardly ever considered...
a policy tool still waiting to be tried!... America could return to the gold
standard... Why? Because the gold standard system would back the U.S.
dollar by real money, and enforce a responsible discipline of fiscal and
monetary policy that Congress and the Federal Reserve cannot currently
do. In turn this would maintain confidence in America's debt.
“The gold standard has one tremendous virtue: the quantity of

the money supply, under the gold standard, is independent of
the policies of governments and political parties. This is its
advantage. It is a form of protection against spendthrift
governments.” Ludwig von Mises (1881-1973)
Monetary systems on a gold standard system cannot increase money

supply as needed. Under a gold standard system, paper money is backed
by something of real tangible value. The total amount of gold limits the
total amount of paper money that can be created. New money must be
backed by additional gold. Omnis’ Jim Rickards suggests this possible
solution: a “gold backed currency at a non-deflationary price… sound
money leads to sound growth and the creation of real, not illusory, wealth.”
In 1971, President Nixon simply severed the tie between gold and U.S.
dollars. As he closed the gold “window,” Nixon proclaimed “We are all
Keynesians now” (referring to the Keynesian economic school of thought
where gold has no function). Austrian School economists and Cliff Küle
would like to say – We are not all Keynesians.
Did severing the link between the dollar and gold work to strengthen
confidence in the U.S.? Please consider:
1. Within a generation of that move, the U.S. went from being the
world’s largest creditor nation to the world’s largest debtor.
2. TIME Magazine of 1979 said:
Until the greenback is once again made as good as gold,

many millions of people will persist in believing that the
barbarous relic is still a better bet.
Recently speaking about Goldman Sachs’ problems at the Peter G.
Peterson Foundation, former President Bill Clinton said,
There is a bigger problem here… too much of our growth was

in finance ever since went off the gold standard.
The dollar “tie” to gold might be “re-tied” just as simply as it was untied. In
a certain respect, America never really went off the gold standard. The tie
between gold and U.S. dollar was simply adjusted to 0%. So, simply adjust
it back. What tie would be needed today to restore America back to the
gold standard? Let’s do the simple math.
Official figures for the total amount of gold reserves held by the U.S.
Treasury are 8133.5 tonnes of gold. This gold is owned by all Americans
and is held in trust by the government for the people. Given that 1 metric
tonne is 32150.746 ounces, that amounts to:
8133.5 tonnes x 32150.746 ounces/tonne = 261498092.591 ounces
If we look at recent Federal Reserve data, we note that the total U.S. M1
seasonally adjusted money supply is at $1712.2 Billion of currency.
Therefore if we were to take the total currency and back it by the total
amount of gold, this would give:
$1712.2 billion divided by 261498092.591 = US$6547 per ounce
There you have it – if the U.S. were to devalue the U.S. dollar, setting gold
at 6550 U.S. dollars per ounce of gold, the country could position to go
back on the gold standard. Global confidence in the U.S. dollar and in
America's debt would be maintained. It may be as simple as finding the
right price for the government gold holdings to give "backing" to every
dollar in circulation.
$6550/ounce is approximately the current value necessary to give "gold
backing" to the current level of M1 money supply. If the U.S. wanted to
expand the money supply further to stimulate the economy, it would need
to set a new price for its gold holdings which is even higher than
$6550/ounce or somehow get more gold. The U.S. could then be in a
position to expand money supply as necessary to stimulate growth and
able to extend credit to other nations. This is an essential ingredient to
restoring confidence and keeping the title of reserve currency. After all, a
reserve currency should be able to extend credit to nations in need, not be
in need of credit from other nations.
As Jim Rickards states, this one-to-one ratio backing of gold with the U.S.
dollar
would comfortably support a broader U.S. money supply on a

one-to-one ratio and maintain confidence in the dollar and U.S.
sovereign debt.
Perhaps only then could global confidence in the U.S. dollar and in U.S.
debt be maintained – if not, either a deflationary depression or a
hyperinflationary depression could be in store as confidence wanes with
increasing levels of public debt.
Back to the Future
Nick Barisheff, President and CEO of Bullion Management Group,
emphasizes that gold is money:
Gold is not and never has been a currency. Gold is something

entirely different and far more valuable. It is money.
Cliff Küle suggests that to maintain confidence in its debt, America must
bring back the gold standard, anchoring the U.S. dollar back to real money
- gold, as Article 1 of the Constitution of the United States commits it to be.
Disclosure: No positions
Work Until You’re Dead? That May Be the Only Option for Many Americans
Huffington Post | Given that the first wave of Boomers is scheduled to
turn 65 in 2011, Attention Must be Paid.
Gold Could Double over Five Years – Headed Higher with Government
Resentment: Holmes Gold has the potential to double within the next
five years, and if governments stumble with their policies, it can go
even higher, said Frank Holmes, CEO of US Global Investors.
As Americans Celebrate Labor Day 2010, U.S. Factories Are Closing In

Droves Labor Day 2010 comes in the midst of a stunning wave of U.S.
factory closings that stretches from coast to coast. Once upon a time
America was the greatest manufacturing machine that the world has
ever seen, but now it seems as though the only jobs available for
working class Americans involve phrases such as “Welcome to Wal-
Mart” and “Would you like fries with that?”
Burry, Predictor of Mortgage Collapse, Bets on Farmland, Gold Michael

Burry, the former hedge-fund manager who predicted the housing
market’s plunge, said he is investing in farmable land, small
technology companies and gold as he hunts original ideas and braces
for a weaker dollar.
Unemployment in U.S. May Rise Toward 10% on `Feeble’ Growth As Bob

Chapman outlined on the show today, once the real figures that the
U.S. Labor Department hides are factored in, real unemployment is
over 21 per cent – approaching great depression levels.
Manipulation Of Money – David Icke David Icke explains how money is

created out of fresh air and how debt is used to enslave us.
Globalism Destroys America: 10 Reasons Why The World Trade

Organization Is Bad For The United States Economy In 2010,
education has been so “dumbed down” in America that most
Americans don’t even know what the WTO is, and even fewer
understand why the WTO is important. The truth is that the World
Trade Organization is essentially a global government for world trade.

according to a prominent economist who has added his voice to
scores of others now forecasting ongoing economic doom on a scale
not seen since the 1930s.) , and my position and that of demographer
Dent (This is a global depression. This is a secular bear market in a
global depression. The past up move was a manipulated bull (s***)
cycle in a secular bear market. This has been a typically manipulated
bubble as has preceded the prior crashes with great regularity that the
wall street frauds and insiders commission and sell into. This is a
typical wall street churn and earn pass the hot potato scam / fraud as
in prior crashes’. This national decline, economic and otherwise, will
not end until justice is served and the wall street frauds et als are
criminally prosecuted, jailed, fined, and disgorgement imposed.

instead of 2010.
latest.
2010 and 2012).
National / World
FBI Warns of Possible Terrorist Response to “Burn Koran Day” Kurt Nimmo
| Violence expected in response to Koran burning demo in Florida.
Everything you need to know about the events in NYC We Are Change | To
be sure everyone is keyed in on all details, we here in NYC decided to
write up an extremely detailed schedule.
The Reckless Mess Created by The Fed Bob Chapman | The 3-card Monte
game continues.
Exclusive: Internal FBI Memo: Government Bracing For Violence Over

“Burn Koran Day” Infowars.com has received a leaked copy of an
internal FBI memo warning of a possible terrorist response to
“International Burn A Koran Day,” an event scheduled for the ninth
anniversary of the September 11 attack to be held by the Dove World
Outreach Center in Gainesville, Florida.
Condoleeza Rice: Everyone Thought Flight 93 Had Been Shot Down When
United 93 came down Ms Rice and other officials believed it may have
been shot out of the sky. Miss Rice added: ‘Everyone in that room
thinks that perhaps it’s been shot down.’
The White House Attempts To Refute The Scariest Jobs Chart Ever You’ve
certainly seen the chart that we’ve dubbed The Scariest Jobs Chart
ever, which shows how meager the jobs recovery has been since the
start of the recession, compared to other recessions.
Obama Did Create 3 Million Jobs — in China President Obama should be

saying, “My economic stimulus plan has preserved or created 3
million jobs — in China.” He keeps leaving out the words “in China.”
His plan is stimulating American demand for imports, not demand for
American products.
Obama: Sounding Bush-like? David Swanson said President Obama

sounded like he embraced all the lies about this war, including the
falsehood about the surge which created “mythical success”.
Abortionists Kept Aborted Babies in Jars I used to think that the abortion
industry were simply capitalists who allowed their greed to override
their humanity. I used to think that maybe it was just feminism run
amok and that cooler heads would eventually prevail. I used to think
that pro-lifers were simply up against the extreme of secularized logic.
Over the past few years though I’ve come to believe that it’s more than
that. It’s worse than that. We’re immersed in a culture with a death
fetish. Our fascination with death is boundless.
The Establishment Media Smear Machine Is Officially Dead Ashes to ashes,

dust to dust. The establishment media smear machine is officially
dead and buried. Rand Paul has extended his lead over Democratic
opponent Jack Conway to a massive 15 points, proving that when the
distrusted and discredited corporate media attacks anyone now, it
actually increases their popularity.
Drudgereport: Petraeus Speaks Out on Quran Burning...
Endangers Troops...
Pastor Says Church Not Deterred...
Hartford City Council meetings to begin with Muslim prayers...
2 SOLDIERS KILLED IN IRAQ, 9 WOUNDED
ADDICTED TO STIMULUS: $50,000,000,000 MORE
Dems wary of WH's huge new spending plan...
Obama takes aim at Boehner... 'They talk about me like a dog'… [ If the
shoe fits ... President Obama calls African-Americans a ‘mongrel people’
President Obama waded into the national race debate in an unlikely setting
and with an unusual choice of words: telling daytime talk show hosts that
African-Americans are “sort of a mongrel people.” ]
'They talk about me like a dog'...
FLASHBACK: President-Elect Obama: Mutt 'Like Me'...
Muslims Protest Plans to Burn Quran...
'Death to America'...
Fears rise as EU nations aim to raise borrowing...
Roubini: More than 400 US Banks Will Fail...
'COMBAT OVER': US TROOPS BATTLE IN BAGHDAD...
Obama to call for $100B business tax credit (Washington Post) [ Just in
the nick of time … riiiiight! … for the elections … you know, ‘talking points’
though of no economic effect … and to make america, only slightly more
bankrupt ... at this point, who’s counting? ] Under mounting pressure to
intensify his focus on the economy ahead of the midterm elections,
president seeks to boost research and development
Afghan bankers' assets frozen (Washington Post) Authorities bar sale of

properties held by principal owners, but freeze excludes Karzai's brother
[ Yeah … don’t want to get him too angry … he’s too valuable to the heroin
trade resurrected by america. ].
Small businesses feel squeezed by Obama policies (Washington Post)

[ Well, the grim reality for them is that they just don’t pony-up those big
campaign dollars like those non-performing corporate welfare recipient
conglomerates / big businesses. The other reality, reiterated again here is
that everybody’s on to the fact that wobama’s great at delivering speeches,
albeit teleprompted, but as we now all know, he doesn’t deliver. It’s rather
pathetic to see that old loser and jingoistic fake war hero fraud, senile,
incompetent mccain who never saw a new war opportunity he didn’t like
despite america’s defacto bankruptcy (a policy the post-election wobama’s
promulgated) because of same being given air time as some sort of wise
old sage when he’s really just an old, stale joke who would have been even
worse than wobama but not by much, failed presidencies both. ]
Charles Manson & the Scientific Dictatorship Jurriaan Maessen | Just like
Manson, the scientific dictatorship would like to see the bodies piled
up high.
Obama, Corporate Media Ignore Widespread Health Problems On Gulf

Coast Kurt Nimmo | Obama gets to declare another mission
accomplished while residents of the Gulf suffer.
Charles Manson: Global Warming Prophet Paul Joseph Watson | James

Jay Lee, along with many prominent environmentalists and
academics, share their eugenicist belief system with the man who
many consider to be evil incarnate.
Gender bender chemical atrazine widely contaminates U.S. public water

supply David Gutierrez | Research indicates the U.S. water supply is
widely contaminated with the endocrine disrupting chemical atrazine.
The Impact of Fiat Money as the World’s Reserve Currency David Redick |
Nations can’t afford our exorbitant privilege of being both a fiat
currency and the world’s primary reserve currency.
The Imperial Anatomy of Al-Qaeda. The CIA’s Drug-Running Terrorists and

the “Arc of Crisis” As the 9th anniversary of 9/11 nears, and the war
on terror continues to be waged and grows in ferocity and geography,
it seems all the more imperative to return to the events of that fateful
September morning and re-examine the reasons for war and the
nature of the stated culprit, Al-Qaeda.
Climate Scientist: Manipulating Earth’s Climate Will Not Cost Taxpayer

More than $1 Billion… Annually! David Keith, director of the Institute
for Sustainable Energy, Environment and Economy, has proposed
releasing engineered nano-sized discs in the earth’s atmosphere to
“offset global warming”- and that for just $ 1 billion of your taxpayer-
money annually.
Dollar falls to 15-year low against yen The dollar fell to a 15-year low
against the yen Tuesday, plunging at one point to 83.52, as the
Japanese unit took advantage of its status as a refuge currency amid
global economic uncertainty.
Austerity Strikes Hit France, Britain In France, unions called for a day of
mass strike action shutting down trains, planes, buses, subways, post
offices and schools in protest against President Nicolas Sarkozy’s
pensions reform bill.
Former N.Korea soldiers to form group to topple regime Scores of former

North Korean soldiers who defected to South Korea will this week
form a group aimed at toppling the regime with the help of serving
soldiers there, one of its leaders said Monday.
Celebrating Job Losses ‘For now I will stick with the belief that Friday's
action was just another oversold rally in the context of a falling market. I
would love for the economy to right itself … Unfortunately I still don’t see
or understand how we are going to accomplish those things in the near
term. I do see many technical indicators flashing warning signs … Until
then cash is the safest investment and all celebrations should be put on
hold.’
Sellers Cut Prices on 50% of Homes Homeowners are slashing prices more
drastically and more frequently, according to recently released data
from ZipRealty. The average price reduction is now 7.1 percent of list
price.
Roubini: India May Overtake China within a Year Roubini warned that world
growth leader China was too dependent on exports to the struggling
West and predicted that within a year its economic growth will be
overtaken by India, a huge nation much more reliant on its domestic
market for development.
10 Reasons Why Conservatives Should Be Against Unfair Trade With China

And 10 Reasons Why Liberals Should Be Against Unfair Trade With
China Liberals and conservatives should both be able to agree that it
is not a good thing for millions of American jobs to leave the United
States and go to China.
CNN’s ‘Glass One-Quarter Full’ Spin: Emphasize Private Job Gains The
Bureau of Labor Statistics released its “all-important” jobs report on
Sept. 3, the morning before Labor Day weekend. CNN rapidly found
the “bright spot” in a report that showed a net loss of 54,000 jobs and
a higher 9.6 percent unemployment rate.
Targeting American Citizens: CIA Takes Global Murder Policy to Next Level
Kurt Nimmo | The CIA has a long track record of targeting untold
numbers of people for elimination.
Vaccinate the World: Gates, Rockefeller Seek Global Population Reduction

Daniel Taylor | The war against population is an ongoing effort on part
of the global elite.
Irish protesters hurl bottles, eggs, shoes at phony tony blair (phony tony’s
a total fraud) during book signing Agence France-Presse | One woman
said she tried to make a citizen’s arrest on Blair once he was inside
the bookshop where the event was taking place.
Democrats running on austerity (Washington Post) [ Wee doggies! … The

new republican party is born … Actually, despite the myth, the reality is
that under Reagan ( and the bushies, and of course, wobama – clinton
caught a break with the peace dividend but the bureaucracy grew )
government spending significantly increased along with the government
bureaucracy. ] Fearing midterm wipeout, party hopefuls embrace budget
cuts with the zeal of Reagan Republicans.
Palin calls reporters 'impotent' and 'limp' (Washington Post) [ I must

reiterate, she, palin’s so embarrassingly dumb! She truly is the joke that
keeps on giving! I really mean it! I mean, what next? ] The former Alaska
governor weighed in herself: "Those who are impotent and limp and
gutless and they go on their anonymous -- sources that are anonymous --
and impotent, limp and gutless reporters take anonymous sources and cite
them as being factual references," she told Sean Hannity. "It just slays me (
this could be a somewhat Freudian slip as she contemplates the
uselessness of sexually non-interested reporters while she meant lays and
I think her supposed / purported attractiveness / desirability is vastly
overstated; but, this makes for great SNL skits; you know, those reporters
not man enough to service her ) because it's so absolutely clear what the
state of yellow journalism is today that they would take these anonymous
sources as fact."
Ex-bank executives say their dismissals caused panic withdrawals in Kabul

(Post, September 4, 2010; 8:52 AM) Karzai urges Afghans not to panic as
bank withdrawals accelerate (Post, September 4, 2010; 3:11 AM) Suicide
bombing kills at lesat 55 (Washington Post) Pakistan… After Iraq war,
uncertainty and seemingly mixed messages (Post, September 2, 2010; 4:26
PM) [ What do these nations have in common? An american presence …
and from the foregoing it’s clear that this sounds like a reporting job for
Rosanne Rosanna Dana of SNL fame who has insight into such scenarios
as this ‘cause her mama always said …it’s always something! ]
U.S. to temper stance on Afghanistan corruption (Washington Post)
[ Sounds like a plan! After all, in america’s own image of corruption, ie.,
bribery, heroin trade, etc., they’re remolding Afghanistan replete with good
old american style corruption and they don’t want no noses pokin’ around
to see america’s direct involvement in the corruption, bribery, etc., and
particularly the heroin trade, the american raison d’etre there where the
Taliban had all but eradicated the heroin production / trade which surged
thereafter with the american participation. The American rationale seems to
be, continue the corruption, etc., since to eliminate same would help the
Taliban. Riiiiight! My, oh my! You can’t make this stuff up.] Military
officials conclude that effort to drive out all but the most corrosive abuses
in region would create a power vacuum that Taliban could exploit.
Economy treading water as jobless rate rises (Washington Post) [ Ah yes,

sweet Neil Irwin! He might just have those rosy fraudulent wall street
glass half-full word pictures on his mind. But, not to rain on his
parade, I’d say that drowning victim, Mr. Economy’s gone down for
the third time! ] Neil Irwin The unemployment rate rose to 9.6 percent,
the Labor Department said Friday, but private employers added 67,000
jobs -- data that offer a mixed portrait of the labor market in an
economy that is neither growing fast enough to bring down
joblessness nor sinking back into a new downturn.
Not-so-dire jobs report gives stocks a boost (Washington Post) AP

Business Highlights [ Wow! ‘Private employers hired more workers over
the past three months than first thought’ … Riiiiight! Especially with 2
months to the mid-term elections (time for federal term limits and the
abolition of lifetime appointments for anything owing to the nation’s
defacto bankruptcy), desperation with fake / false data / reports; and, that
negative but better than expected thing as unemployment rate inches up to
9.6% (the real unemployment rate is approximately 20+% with that ‘stopped
looking’ fudge-factor giving them the false positive). I mean, come on!
Private reports on non-farm payrolls down each week, but suddenly from
out of nowhere defying virtually all economist estimates the ue claims are
up, and prior gov’t reports revised up. This is a great opportunity to sell /
take profits! ] ‘(AP)Companies add 67K workers, but jobless rate rises
WASHINGTON (AP) -- Private employers hired more workers over the past
three months than first thought, a glimmer of hope for the weak economy
ahead of the Labor Day weekend. But the unemployment rate rose because
not enough jobs were created to absorb the growing number of people
looking for work ...’
Mark Hulbert's Take: What Are the Odds of a September Decline? at

Seeking Alpha (Fri, Sep 3) ‘Some of the work Mark Hulbert does is nothing
more than telling us what the gurus in the universe he follows are thinking
individually and, more frequently, in the aggregate. But of late, he also has
been doing some far more interesting analysis in the “Yale Hirsch” mode –
and the results are not satisfying if you are a bull.
The bullish case seems to rest on two platforms: (1) August was really bad
therefore September should be good in reaction to that, and (2) “Everyone”
now expects the current crop of politicos to suffer major setbacks in
November and, since the market is a predictive mechanism, investors are
positioning themselves today for what they believe will be wonderful news
post-November (like an extension of the current tax rates and a reduction
in pork-barrel spending by irresponsible pols.)
The Dow rallied more than 300 points the first two days of September so,
making the usual straight-line assumption, bulls believe that today is the
day to get invested, Hmmm. Let’s examine each of the above platforms in
turn.
Quoting Mr. Hulbert’s conclusions based upon his historical analysis:
I have good news and bad news when it comes to slicing and
dicing the historical data as it pertains to September.
The good news is that it is possible, by carefully reading the

statistical tea leaves, to get advance insight into whether any
given month is likely to do better or worse than average.
The bad news: Those tea leaves provide no such hope that
this September will be able to beat its historical reputation as
being awful for stocks.
His research shows that since 1896 (the year the Dow Jones Industrial
Average was created,) the Dow has lost an average of 1.15% in September.
The average gain for all other months was 0.71%. Worse, a look at the
historical record shows that Septembers did not show a 1.15% decline
following a bad August – they showed a 2.7% decline! Typically, when
August is down, as goes August, so goes September -- only twice as bad
as usual.
Worse than that, Hulbert notes, “During each of the past nine decades...
September's rank relative to other months in terms of performance was
never higher than ninth. It was dead last in five of those nine decades --
including the most recent one.”
He adds a final bit of gasoline to this bonfire by noting that the CBOE's
Volatility Index (VIX) is relatively low going into September, the month
tends to do better. Uh-oh. The VIX at the end of August was quite a bit
higher than 20. (And for those who have followed our comments on the
VXX and VXZ ETFs in the past, we believe they have now entered an
excellent buy area.)
As for the second platform, the market seldom reacts favorably to the same
news twice. I’ve been writing for two years that the pendulum will swing,
that the 2008 election was a rejection of the guns-and-butter policy of the
previous administration and was little different than the voters’ rejection of
President Johnson’s guns and butter policies in 1968 (thrusting Richard
Nixon into office with disastrous consequences we hope are not repeated
this time around), and that mid-term elections are almost always about
mitigating the euphoria of the previous presidential election. This is not
news!
The rally of September 1st and 2nd may have occurred as a result of Johnny-
come-latelies reaching the conclusion Wall Street reached about the mid-
term elections weeks or months ago. If that is the case, I imagine the smart
money is rubbing their hands with glee and using this rally to lay on bigger
short positions.
The current rally was ostensibly about the fact that the Chinese Purchasing
Managers Index rose to 51.7 in August from 51.2 in July, followed by the
news that the U.S. ISM Manufacturing Index improved from 55.5 in July to
56.3 in August. I don't see it – these incremental numbers are nothing but
decimal dust in the grand scheme of things! Easily manipulated by the
bureaucrats in charge of such numbers, the “improvement” is so small as
to be barely measurable – and to raise not a stir among the media when
they are “revised” from “up 0.5%” to “down 0.1%” or whatever in another
month.
The other economic numbers that form the backdrop to this rally include:
Canada’s GDP fell to an annual rate of 2% in the 2nd quarter, down from
5.8% in Q1; auto sales absolutely plunged in the U.S. and around the world;
there was a continued drop in U.S. construction spending; there were
declining retail sales in Euro nations; and the ADP employment report
indicating that we didn’t just grow jobs at too slow a pace to cover all the
new workers entering the labor force, but we actually lost some 10,000
private sector jobs! Government is still hiring, of course, but we must
always remember: the private sector is income, government is overhead.
That doesn’t mean we don’t need certain government workers – what
hellish existence would it be without fire and police protection, or good
teachers to educate our children? But it is still overhead even if we
collectively choose to pay for it in order to enhance our safety or literacy.
Bottom line: September tends to do worse in years that August has been
bad. August was bad. The news of the mid-term elections is already old
news and will most likely follow the historical path of all mid-term
elections. We will return more to the center. And the good news to propel
the market higher is likely to be short-lived. Clearly, we aren’t out of the
woods yet. If the market is in a news-dominated phase, we are likely in big
trouble.
For our clients we are stressing safety, with inverse ETF protection from
the likes of ProShares Short S&P 500 (SH), ProShares Short Russell 200
(RWM), ProShares UltraShort Nasdaq (QID) and ProShares Short MSCI
Emerging Markets (EUM). (If the US and Europe aren’t consuming, who is
going to order stuff from the emerging nations? They will fall if our markets
and economies fall…) We are also buying VXX and VXZ and are keeping
our bond positions short and inflation-resistant, as we do with WIP, TIP,
BWZ, and MINT. Finally, we own some special situations in precious
metals, energy and agriculture. (See previous articles for specifics,
including this and this...)
AP Business Highlights [ Wow! ‘Private employers hired more workers

over the past three months than first thought’ … Riiiiight! Especially with 2
months to the mid-term elections (time for federal term limits and the
abolition of lifetime appointments for anything owing to the nation’s
defacto bankruptcy), desperation with fake / false data / reports; and, that
negative but better than expected thing as unemployment rate inches up to
9.6% (the real unemployment rate is approximately 20+% with that ‘stopped
looking’ fudge-factor giving them the false positive). I mean, come on!
Private reports on non-farm payrolls down each week, but suddenly from
out of nowhere defying virtually all economist estimates the ue claims are
up, and prior gov’t reports revised up. This is a great opportunity to sell /
take profits! ]Companies add 67K workers, but jobless rate rises
WASHINGTON (AP) -- Private employers hired more workers over the past
three months than first thought, a glimmer of hope for the weak economy
ahead of the Labor Day weekend. But the unemployment rate rose because
not enough jobs were created to absorb the growing number of people
looking for work ...’
Stocks Churning in Trading Range: Dave's Daily ‘This will be short.

Perhaps the image [old lady (wall street) churning (scam) butter (stocks)]
and title should suffice as a summary of the week. After all, I indicated
"possibly" I might post on Friday. The current market is a reprise of early
July's rally from June's selloff. Now into September the August lows are
reversing. How durable will this be is anyone's guess. Economic data was
greeted with bullish enthusiasm as markets were oversold after Monday's
slump. The unemployment data was just about the same as previous once
you look deeper inside the data. The birth/death model is just an estimate
made out of thin air. Once you view the data ex-that, things look pretty
grim. There are very few players involved this week and perhaps in the
future. It's interesting many major banks are closing their proprietary
trading operations. This removes another important prop to markets as
retail investors have left the scene. Further, for stock mutual funds, the
exodus continues for the 16th straight week. Cash balances at these funds
are at historic lows of 3% as the outflow continues. Curiously, short
interest is also at an all-time low near 4% meaning few for bulls to squeeze.
We only have hedge funds and overseas investors in the game. And, it
does seem like a game more than ever now. Bulls jumped on the oversold
conditions on Wednesday as a DeMark 9 was registered on Tuesday for
most major market daily charts then. A rally on that technical condition was
no surprise ...’
Important Manufacturing Indicators Look Weak at Seeking Alpha (Fri, Sep

3)
Consumption Contraction Approaches 2008 Low at Seeking Alpha (Fri, Sep
3)
Beware the Big Red Leading Indicator at Seeking Alpha (Fri, Sep 3)
Small Investors Turns More Bullish (contrarian indicator) at Seeking
Alpha (Fri, Sep 3)
Unemployment Rate Edges up to 9.6% at TheStreet.com (Fri, Sep 3)
AAII Sentiment Survey: Bullish Sentiment Improves, But Bearishness Still
Dominates at Seeking Alpha (Fri, Sep 3)
Monthly Markets Review: Risk Aversion Rises in August as Double Dip
Concerns Grow at Seeking Alpha (Fri, Sep 3) ‘…The ECB keeping rates at a
record low of 1% and zero interest policies in the US and in most western
economies remains bullish for gold as the opportunity cost, the lack of
yield, of owning gold is negligible, especially with inflation having picked
up recently in many economies internationally. Further signs of burgeoning
food inflation were seen in the surge in the price of global meat prices
which have risen to 20 year highs … (chart) September can be the 'cruelest
month' for stocks. Conversely, more years than not, precious metals prices
perform well in September and many analysts reckon this year will not
disappoint those owning gold. Given the uncertain financial and economic
outlook, it is important that investors remain diversified with allocations to
cash, short dated government bonds, international equities, and gold…’
More than 400 US Banks Will Fail: Roubini CNBC | More than half of the
800-plus US banks on the “critical list” are likely to go bust, according
to renowned economist Nouriel Roubini.
U.S. unemployment soars to 9.6% after economy loses 54,000 jobs The U.S.
unemployment rate rose to 9.6 per cent in August, official figures
released today have shown. The data from the U.S. Labor Department
showed the economy lost 54,000 jobs last month as the United States
continues to struggle to recover from the recent global recession.
Government Economic Leaders Surprised that Real World Isn’t

Responding to their Magic Pixie Dust Many have tried to explain to the
neoclassical economists running the show exactly how bad the
economic collapse would be, why it was so bad, and how to mount an
adequate response to fix things. But Bernanke, Romer and the rest of
the gang ignored them.
Why Lessons From The First Great Depression Mean The Next Four
Months Will Be Very Painful For Stockholders Scott Minerd, CIO of
Guggenheim Partners, parses through the years of the Great
Depression, and focuses on the pivotal 1936, which contained in it the
seeds for the destruction of the period of relative economic growth
and stability from 1932 to 1936.
Michael Pento Says Fed Will Buy Stocks And Real Estate In Its Next
Attempt To Create Inflation Zero Hedge | Pento also goes into
explaining why housing is facing a “deflationary depression,” and a
further collapse in pricing, why inflation benefits only those closest to
the money, i.e., the banks and the military complex.
The U.S. Path to Collapse National Inflation Association | The pain that was
felt after the collapse of Lehman Brothers is nothing compared to the
pain that will come when we begin to feel the effects of bailing out the
rest of Wall Street.
National / World
Globalist Soros Launches Frontal Assault Against Tea Party Kurt Nimmo |
Soros and the foundation left have launched a website designed to go
after the growing Tea Party movement.
ABC Nightline Hit Piece Smears Alex Jones As King of “Paranoia Porn”
[ Yeah! This is unequivocally indefensible on the part of abc (or nbc,
fox, cbs, etc. if they shared a similar mainstream media view) because
there are so many substantial nation-damaging behaviors that are in
plain sight yet go unreported (and unprosecuted). I’d feel more
comfortable with a Washington Post Network (possibly as a wholly
owned subsidiary to militate against the risks inherent to such a
venture and the establishment of same). While I do find Alex Jones’
somewhat overstated vaunted opinion of the so-called elite a bit
much, it’s not because these mental cases are not trying to do as he
has accused / shown, but rather because I find his ‘elite’ to be as I’ve
previously stated totally inept, incompetent vegetables who are
incapable of doing anything well or of substance. I’m really not
exaggerating when you look at their track records of inscrutable
failure, if only because of a lack of focus on and attention to such
failure / corruption. This also includes the ‘pols’ who make the case
for term limits based upon any previous service at all. I think people
should be thankful that Infowars, Prison Planet, Jones, et als, value
the people / humanity enough to take the very real risks, and expend
his time and energy in sifting through the plethora of b*** s***,
obfuscation, and cover-ups to reveal the truth. Given the inherent
state of human nature, their lack of courage, integrity, etc., including
that of americans generally, another area where I part company with
Jones et als and which, truth be told led them to censor my comments
to some of their articles (very hypocritical), such sacrifice by them
seems very difficult to justify; but the discomfort they give the
dysfunctional mainstream media is certainly a good thing of itself. ]
Paul Joseph Watson & Kurt Nimmo | Dan Harris proves yet again why
the establishment media is increasingly shunned and distrusted.
The True Cost of the War Paul Craig Roberts | America’s “war on terror,” a
fabrication, has resurrected the unaccountable dungeon of the Middle
Ages and the raw tyranny that prevailed prior to the Magna Carta.
Fluoride: Direct Engagement to Incite Public Inquiry Travis Crank | Wichita

public servants outwardly deny the fluoridation of our water.
Eugenics Alert: World Bank Population-Reduction Lending Schemes

Already Underway Jurriaan Maessen | The World Bank works in
concert with all the other arms of the octopus.
As Usual, MSM Gushingly “Predicts” Our Fascist Future [ This is quite

shocking inasmuch as they’d then be able to easily ‘off’ the recipient
of such with a few simple modifications of the chip for any of a
multitude of bad reasons / motives. I would never, under any
circumstances, permit this for myself, etc..] David Kramer | From the
broadcasting arm of the number one New World Order industrial
corporation, General Electric, comes this story about the
“convenience” of being microchipped for identification.
Drudgereport: UNEMPLOYMENT JUMPS TO 9.6%...

Economy LOST 283,000 jobs during 'Recovery Summer' months...
NPR: 'Recovery Summer' Ends With Economic Pothole...
Labor Sec. Declares: 'There are jobs out there'...
TREASURY HEAD RUSHES BACK FROM VACATION; AIDES SEARCH FOR
OTHER JOBS PACKAGE...
120 Days to Go Until Largest Tax Hikes in History...
President Claims Job Creation; Doesn't Mention Net Job Loss of 54K...
HE NEEDS A VACATION: OBAMA TO CAMP DAVID...
Taxpayers to face initial loss on GM IPO; Treasury to sell first shares below
break-even...
David Rosenberg: The U.S. Is Suffering a Japanese-Style Depression
Burrows ‘Presciently bearish David Rosenberg, the chief economist and
strategist at Gluskin Sheff who called the global meltdown back when he
was still at Merrill Lynch, isn't budging from his view that the U.S. is in a
depression -- and a prolonged, Japanese-style one at that. Rosenberg
reminded clients on Wednesday that here we are 33 months after the Great
Recession began, and yet home prices, gross domestic product, credit
outstanding, organic personal income and employment are all lower now
than they were prior to the onset of the downturn. "We can understand that
this is not exactly cocktail conversation, but this is a Japanese-style (even
worse perhaps) modern-day depression," Rosenberg writes. "It's not the
1930s because soup lines have been replaced with unemployment
insurance lines -- over 10 million checks and for up to 99 weeks. The poor
souls who endured the bitter 1930s had no such relief." And as for the
U.S.'s vaunted labor flexibility and superior demographics saving it from a
Japanese sort of lost decade or two, well, Rosenberg is having none of it.
"Government policy and the record number of people upside-down on their
mortgage have seriously impaired the flexibility of the labor market,"
Rosenberg writes. And the U.S. birth rate has declined for two consecutive
years and is at its lowest level in a century, he notes. Of course, it's no
surprise to buy-and-hold investors that U.S. equities have already notched
a lost decade and then some. Take a look at this 10-year chart of the S&P
500 ($INX): See full article from DailyFinance: http://srph.it/aZTYr7’
[$$] U.S. Equity ETFs Implode ‘U.S. equity ETFs hemorrhaged assets
during the month of August as investors sought out emerging-market
equity and debt along with fixed-income picks. According to National Stock
Exchange data (nsx.com) released today, U.S. equity ETFs shed nearly $11
billion in assets last month. Here's something remarkable: One U.S. equity
ETF accounted for more than half of these outflows. The SPDR S&P 500
ETF, arguably the ETF industry's most iconic fund, saw net outflows
totaling more than $6.6 billion last month. Who were the biggest losers
besides SPY? You'll recognize some of these names: the PowerShares
QQQ ETF, the iShares Russell 2000 ETF and the SPDR DJIA ETF saw net
asset outflows of $2 billion, $1.7 billion and $616 million, respectively. At
the other end of the spectrum, the Vanguard MSCI Emerging Markets ETF
and the iShares MSCI-Emerging Markets ETF attracted $1.9 billion and $1.8
billion, respectively, while the...’
David Rosenberg: The U.S. Is Suffering a Japanese-Style Depression

Presciently bearish David Rosenberg, the chief economist and
strategist at Gluskin Sheff who called the global meltdown back when
he was still at Merrill Lynch, isn’t budging from his view that the U.S.
is in a depression — and a prolonged, Japanese-style one at that.
The U.S. Path to Collapse The combination of more government spending

and less taxes equals massive inflation, but this represents the state
of mind in Washington today. Inflation is still the last thing on their
minds because they don’t see it yet.
Can A Family Of Four Survive On A Middle Class Income In America

Today? When I was growing up, $50,000 sounded like a gigantic
mountain of money to me. And it was actually a very significant
amount of money in those days. But in 2010 it just does not go that
far. Today, the median household income in the United States for a
year is approximately $50,000.
The Reckless Mess Created by The Fed Quantitative easing will put the
American public at ease, at least temporarily. They do not realize it but
the American and world economies are in a deliberate state of slow
collapse. Yes, the Fed has created a terrible mess. They have been
totally unprofessional and reckless.
US Retail Sales Top Estimates on Tax Holidays, Discounts Bloomberg A

family walks toward the entrance to the Kohl's store in Round Rock,
Texas. Photographer: Jack Plunkett/Bloomberg US retailers reported
August sales that beat analysts' estimates as ...
Retail sales, home contracts rise modestly (Washington Post) [ Forced /

Distressed / Underwater pending / foreclosure sales the impetus for short-
covering / suckers’ rally on light and hence, easily manipulated, pre-holiday
computerized trade volume. The government, desperate and defacto
bankrupt, is back to their fake / false data reporting; you know, the kind
that spurs the fraudulent wall street rallies and gets revised by 35% + down
later as with GDP just recently, but the wall street frauds will get their
commissions again on the way down. YAHOO [BRIEFING.COM]: ‘…Early
participants had little reason to alter their mood since the initial jobless
claims count for the week ended August 28 came in at 472,000, which is in
on par with the 475,000 initial claims that had been widely expected. The
latest tally was also little changed from the prior week total of 478,000.
Continuing claims saw a more substantial slip as they fell to 4.46 million
from 4.48 million. Final nonfarm productivity readings for the second
quarter also offered little surprise. Productivity in the quarter fell 1.8%,
which is in stride with the 1.7% decline that had been widely forecasted.
Unit labor costs for the quarter increased 1.1%, as expected. Pending home
sales for July provided participants with a positive surprise. They posted a
5.2% monthly increase, which contrasts with the call for no change from
economists polled by Briefing.com. That data overshadowed news that
factory orders for July increased 0.1% instead of 0.3% as had been widely
expected…’ Stocks rise on economic hopes ahead of payrolls (Reuters)
Riiiiight! Sounds like a plan! ]
Nation / World
Gun Confiscation in Response to Hurricane Earl? Kurt Nimmo | In New

Orleans, police and National Guard confiscated weapons and violated
the Second Amendment.
California Cops Taser Senior Citizen in His Own Home Kurt Nimmo | In
America, now officially a police state, you will be tasered in your own
home if you lip off to the police.
World Bank Threatens “Drastic Steps Necessary” if Nations Refuse

Population Reduction Implementation Jurriaan Maessen | A World
Bank report suggests introducing “sterilization vans” and “camps.”
British Attorney General moves toward re-opening investigation into

mysterious death of Iraq weapons inspector Raw Story | The United
Kingdom’s top law enforcement official has taken possession of
secret files surrounding the murder of David Kelly, a prominent WMD
researcher who was found dead in the months after the invasion of
Iraq.
New Evidence Of Controlled Demolition On 9/11 In the video, at about the
0:59 mark, a high-pressure explosion occurs in one of the Twin
Towers, below the impact zone, while the building is still standing.
Update: Mile-Long Oil Sheen Reported Spreading From Site Of Gulf

Platform Explosion The Coast Guard is on the scene of another oil rig
fire in the Gulf of Mexico. Officials are now reporting a mile-long oil
sheen spreading from the site.
Karzai’s brother calls for U.S. to shore up Kabul Bank as withdrawals

accelerate As depositors thronged branches of Afghanistan’s biggest
bank, Mahmoud Karzai, the brother of the Afghan president and a
major shareholder in beleaguered Kabul Bank called on Thursday for
intervention by the United States to head off a financial meltdown.
Mexico drug kingpin says he received trailers of US cash A captured

Mexican drug kingpin admitted to “investments” in Colombia and said
he had received trailers full of dollars from the United States, in a first
interrogation video released here.
‘Iraq war based on lies and deception’ Former Reagan Administration

official Paul Craig Roberts says that we didn’t hear why we initially
went to war with Iraq, although the world knows was based on lies
and deception.
Pakistan military abandons US trips after being ‘mistaken for terrorists’

Pakistani officials said the officer, weary from the journey to the US,
had said, “I hope this is the final plane to the destination” causing a
female passenger, who believed he was threatening the aircraft, to
panic.
Drudgereport: TIME: (WOBAMA) MR. UNPOPULAR... FLASHBACK:
(WOBAMA) TIME MAN OF THE YEAR 2008...
Calls for USA to shore up Afghanistan Bank as withdrawals accelerate...
UPDATE: Oil rig explodes in Gulf of Mexico; 7 active wells on platform...
COAST GUARD: Mile-long 'oil sheen' spreading...
Russian police raid opposition magazine... [They don’t often do this overtly
in america anymore since most media is in cahoots / controlled; but still,
no excuse for putin who is often disengaged as when he is out shooting
Siberian Tigers with sophisticated weaponry. ]
Pledge beaten by sorority sisters who warned her 'snitches get stitches'...
‘… In her lawsuit, excerpted here, Howard noted that she had originally
planned to pledge Alpha Kappa Alpha, the oldest African-American
women’s sorority. But since the sorority’s San Jose chapter has been
suspended due to hazing activities, Howard opted to join Sigma Gamma
Rho, believing that “they represented the ‘sisterhood’ she sought in a
sorority.” However, Howard contends, that the group’s pledge process was
far from sisterly. According to her complaint, she and fellow pledges were
punched, slapped, kicked, slammed into walls, struck with a wooden spoon
and a cane, and had books and coins thrown at them during a series of 16
nighttime initiation sessions. Howard recalled one evening when a sorority
sister told her to close her eyes. She was then struck on the buttocks with
what she later learned was a kitchen pot. The pledges were also frequently
struck with a wooden paddle, Howard said, blows that left her with welts on
her buttocks. Howard reported that pledges were repeatedly warned not to
talk with friends and family about the initiation process, since “snitches get
stitches.” They were also told that if they failed to participate in certain
pledge activities, they would be “jumped out,” a gang term for a beating
conducted by all members of the group. Howard’s complaint names as
defendants San Jose State University, Sigma Gamma Rho, and various
sorority members, including a quartet of women who, court records show,
pleaded no contest earlier this year to misdemeanor hazing charges. The
defendants--Princess Odom; Monique Hughes; Joslyn Beard; and Nicole
Remble--were each sentenced to 90 days in jail, directed to serve two years
of court probation, and barred from involvement with any sorority. Odom,
Hughes, Beard, and Remble (all negroes) are pictured here, clockwise from
upper left, in San Jose Police Department mug shots.’
Pearlstein: Put millionaires' tax money to good use (Washington Post)

[ Nobody likes even the sound of higher taxes, particularly when the same
goes for such waste as porkbarrel, political spending but especially the
nation-bankrupting needless war spending, the black budgets, etc.. That
said, Mr. Pearlstein is quite right, especially when one considers the source
of the ‘largesse’, viz., nation-bankrupting war criminal moron dumbya bush
who snidely smirked as he talked of ‘his (political) base’ and all the
‘politicking’ entailed in same. Remember… the nation is defacto bankrupt!
Moreover, I don’t buy that ‘most productive’ sector being ‘disincentivized’
unless measured by the magnitude of their frauds (ie., wall street, etc.),
transfer of the nation’s productive capacity (ie., u.s. ceo’s and politicians,
etc., with few exceptions). Additionally, their marginal propensity to
consume is less than that of lower wage earners (economics) ]
Bernanke: Regulators fell short in identifying problems (Washington Post) [

Now we know why and what the initials B.S. (for B*** S*** ‘no-
recession-helicopter ben’) preceding bernanke stand for. Come on!
Say the prosecution word and all’s forgiven. Everyone knows that the
criminally insane on wall street have been / are engaged in a huge
fraud and there are hundreds of trillions of worthless paper still out
there and marked to anything to prove it. See Graham Summers’
exposé, infra. ] In a lengthy analysis of the financial crisis, the Fed
chairman says the government did not do enough to protect
consumers in the marketplace.
Karzai calls aide's arrest reminiscent of Soviet times (Washington Post)

[ Exactly, eerily, certainly realistically reminiscent of the former soviet
union is the american union in terms of economics (defacto bankrupt),
geopolitics (intensely hated), and even factual similarity (the final
straw), with an unmistakable modus operandi that gives rise to failure
beyond the propaganda. After all, corruption is as american and
pervasive in america as apple pizza pies and mother of hoods, etc. ]
Army supervisor was worried about leak suspect's mental health, attorney
says (Washington Post) [ One cannot help but hearken back to a frequently
deployed ‘government at its worst’ strategy, ie., Ellsberg/Pentagon papers,
former soviet union, etc., in attempting to discredit such informants, etc.,
which of course is a telltale sign of america’s similar fate / decline / fall. ]
What if Roger Clemens is telling the truth?
http://voices.washingtonpost.com/hard-
hits/2010/08/what_if_roger_clemens_is_telli.html I ordinarily don’t
comment on sports matters but this is one of those exceptions. While not
in any way dismissing the seriousness of the prevalent use, for quite some
time, of performance-enhancing drugs, my own position on the matter was
to place an asterisk next to those who made the record-books so-doing
(still matters of proof) with a more stringent policy going forward. Where
does an incompetent, nation-bankrupting, non-performing congress get off
going after a performance-driven baseball player when huge crimes,
warcrimes, frauds from this same government are still unprosecuted? Ask
the wall street frauds the tough questions … they’ll lie. Then, even
assuming, arguendo, Clemens slipped up … picture the alice-in-
wonderland surreal scene presided over by that mammalian rodent-like
presence of that incompetent in the semblance of some beaver-toothed
woodland creature as, ie., hedgehog, gopher, etc., amidst characters that
would rival the famed mad tea party, mad-hatters all. There are far bigger
fish to fry and of greater consequence to the nation but their lack of
courage and incompetence is the only consistency on capital hill, and
everyone knows it. How pathetic! After all, aren’t all three branches of the
u.s. government a lie of themselves, and have a near single digit approval
rates to prove it.
Pa. capital nearing bankruptcy (Washington Post) [ Sounds like a dry run
for the nation’s capital. Drudgereport: MORGAN STANLEY: Government
Bond Defaults Inevitable … Everyone who is capable of thinking knows
america is defacto bankrupt. The question is, how did Morgan Stanley’s
assessment escape scrutiny and follow-up by the press. Indeed, it is
certainly a breach of duty to have done so in light of the implications. ] In a
highly unusual move, the city of Harrisburg says it will not make a $3.3
million payment.
Automakers report weak sales (Washington Post) [ This really is sobering,

yet totally lost on the frauds that be on wall street. ‘Cheapskates’? Mr.
Whoriskey should be ashamed of himself. After all, you can’t spend
what you don’t really have (unless you’re defacto bankrupt …
america ) and, let’s not kid ourselves, Mr. Whoriskey has to be
considered somewhat ‘ivory tower’. ] Chastened by the recession,
more U.S. consumers have become cheapskates: They are saving
more and driving older cars. And that, in part, explains the historically
dismal sales reports released Wednesday by automakers.
Manufacturing rebound spurs stock rally (Washington Post) [ Riiiiight!

That new global hub of (very high priced) manufacturing activity …
Defacto bankrupt america …I don’t believe the ISM number for even a
minute, even with the defacto bankrupt government’s market-frothing
spending of money they definitely don’t have and believe the
forecasters were closer to reality.] After their worst August in nine
years, stocks kicked off September with a big snap-back rally,
following the release Wednesday of surprisingly good news about the
U.S. manufacturing sector.
Obama prods Mideast leaders (Washington Post ) [ The real question is …

who is going to prod defacto bankrupt, war crimes nation america … on
peace, that is. Then there’s that ‘oh, it’s just war crimes, illegal nuke-toting
israel … laws, rules, un resolutions, etc., don’t apply to them factor and the
concomitant skepticism attendant thereto. ] Israeli Prime Minister
Netanyahu and Palestinian President Abbas are set to open direct peace
talks.
Five reasons to be optimistic about the economy (Washington Post) Neil

Irwin |(Very) Political Economy [The unflappable Mr. Irwin. Fraudulent
wall street’s shill and man for all seasons falls in with the following as
his glass half-full runneth over: Those Who Ignore History... [The
aforementioned from The Pragmatic Capitalist is a cogent summary of
extant problems which undoubtedly will end quite badly for the
unwary (today’s folly represents a great opportunity to sell / take
profits), infra, and should be read in tandem with Graham Summer’s
exposé which follows. Yet, the situation as realistically bad as they’ve
so presented same, is far more dire than even they posit for the u.s.
particularly owing to structural problems now inherent to america’s
economy / business model which bodes ill as never before in
america’s relatively short history. U.S. Stocks Surge On Overseas
Growth Riiiiight! Some of the same mainstream, (msnbc) ‘money
honey’ drivel one would expect from Forbes faux ‘capitalist tool’
cheerleading squad, totally devoid of forward-looking analytical
prowess and leaves you burned every time. Come on! Government
Motors and Ford sales were down significantly, construction spending
down, private sector jobs lost, and even BofA’s Merrill Lynch has
sugar-coated the reality cutting the wall street frauds a break by
calling this a ‘growth rececession’. The typical fraudulent wall street
churn-and-earn computerized trade scam with built in commission
volume for the way down. Sorry to say it, but the reality is: This is a
global depression. This is a secular bear market in a global
depression. The past up move was a manipulated bull (s***) cycle in a
secular bear market. This has been a typically manipulated bubble as
has preceded the prior crashes with great regularity that the wall
street frauds and insiders commission and sell into. This is a typical
wall street churn and earn pass the hot potato scam / fraud as in prior
crashes’. This national decline, economic and otherwise, will not end
until justice is served and the wall street frauds et als are criminally
prosecuted, jailed, fined, and disgorgement imposed.]
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.
Nasdaq will Fall Below 1,100, its 2002 low, by late 2010 or mid-2012 at
the latest.
Greatest Economic and Banking Crisis since the 1930s will Occur
Between 2010 and 2012 Economists Herald New Great Depression The
world is currently experiencing the modern day equivalent of the
Great Depression, according to a prominent economist who has
added his voice to scores of others now forecasting ongoing
economic doom on a scale not seen since the 1930s.] The Pragmatic
Capitalist ‘My position over the last 2 years has been as follows: this
is a Main Street debt crisis. I have been highly critical of the
government’s incessant interventionist policies over the last few
years largely because they ignore the actual problems at hand. First it
was Mr. Bernanke saving the banks because he believed the credit
crisis started with the banking sector. The great monetarist gaffe
ensued. Tim Geithner piled on with the PPIP. FASB jumped on board
the bank rescue plan by altering the accounting rules. And then the
icing on the cake was the Recovery Act, which, in my opinion, just
shoveled money into the hole that had become the output gap,
without actually trying to target the real cause of the crisis – those
burdened by the debt. In essence, the various bailouts primarily
targeted everyone except the people who really needed it.
A year ago I posted a story citing the many reasons why we were sinking
into the deflationary Japanese trap. The primary flaw with the US response
to the crisis was that we never actually confronted the problem at hand. I
have often cited Japanese economists such as Richard Koo who appear to
have a good grasp on the problems in Japan and now in the USA. In this
case, I cited Keiichiro Kobayashi who is now looking most prescient:
We continue to ignore our past and the warnings from those

who have dealt with similar financial crises. Keiichiro
Kobayashi, Senior Fellow at the Research Institute of
Economy, Trade and Industry is the latest economist with an
in-depth understanding of Japan, who says the U.S. and U.K.
are making all the same mistakes:
“Bad debt is the root of the crisis. Fiscal stimulus may help
economies for a couple of years but once the “painkilling”
effect wears off, US and European economies will plunge back
into crisis. The crisis won’t be over until the nonperforming
assets are off the balance sheets of US and European
banks.”…
Read that last paragraph again. These are scarily accurate comments.
While the USA claims to have many economists who understand the Japan
disease and/or the Great Depression the policy actions we’ve undertaken
do not appear to be in line with any understanding of this history.
What we’ve done over the last few years is repeat the mistakes of Japan’s
past. Instead of confronting the debt problems head on we have simply
tried to fill the output gap with short-term spending plans and impotent
monetary policies. As Kobayashi presciently said, the “bad debt is the root
of the crisis”. I think most mainstream economists, the administration and
the Fed have continually misdiagnosed our problems. They have attempted
to save the banking sector and simply fill in holes with spending plans that
prop up markets, entice more borrowing and largely ignore the actual
cause of the current crisis. Some economists have argued that the
Recovery Act didn’t fail, but that it was too small. This is like saying that
the cancer patient didn’t receive enough percocet. More percocet isn’t the
cure. Targeting the cancer and trying to cut it out is the cure. Yet, we
continue to ignore the lessons of Japan despite having so many “experts”
on the Japanese disease. Therefore, we appear destined to repeat their
horrid economic history assuming our current path isn’t miraculously
altered.’
WHO ELSE IS CLUELESS IN THE FINANCIAL SECTOR? [ As I’ve previously

said and reiterate here, the lunatic frauds on wall street are criminally insane and
the only way to stop / deter their debilitating churn and earn among other
computerized frauds is prosecution, jail, fines, and disgorgement! Once again
they’re back to their huge fraudulent gains as seen this reporting period despite
growing problem bank list, worthless paper from the prior fraud in the (hundreds
of) trillions now marked to anything, and look at August results and worse to
come; that money for their commissions / premiums must come from someplace,
viz., the bubble which will deflate / crash. ] Graham Summers ‘Here’s a zinger
of a news story:
Barclays Plc had no idea how big Lehman

Brothers Holdings Inc.’s futures-and-options
trading business was when it considered taking
over the defunct bank’s derivatives trades at
exchanges in 2008, a Barclays executive
said.“Lehman’s books were in such a mess that I
don’t think they knew where they were,” Elizabeth
James, a director of Barclays’s futures business,
testified today in U.S. Bankruptcy Court in Manhattan.
James worked on Barclays’s purchase of Lehman’s
brokerage during the 2008 financial crisis.--
Bloomberg
I’ve railed for months that the central issue surrounding the Financial Crisis
(derivatives) was not only misunderstood but completely ignored by the
mainstream financial media. Here we are, nearly two years after Lehman
Brothers went bust, and they’re telling us that Lehman had “no idea” what its
options and futures exposure was.
Let’s put this into perspective.
The notional value of the derivatives market at the time that Lehman went bust
was somewhere between $600 trillion and $1 Quadrillion (1,000 trillions). It was a
market of inter-linked paper contracts entangling virtually every financial
institution (including some non-financials), country (Greece, Italy used derivatives
to get into the European union), and county (Birmingham Alabama is one
example) in the world. As a market it was at least 20 times larger than the
world stock market and somewhere north of 10 times World GDP.
In other words, this was the giant white elephant in the living room.
And here’s Lehman brothers, one of Wall Streets’ finest, most respected financial
institutions which had been in business for over 150 years announcing that it had
“no idea” “if it had sold $2 billion more options than it had bought, or whether it
owned $4 billion more than it had sold.”
In today’s world of trillion dollar bailouts, $2-4 billion doesn’t sound like much, so
let’s give some perspective here… in its golden days, Lehman Brother’s market
cap was roughly $47 billion. So you’re talking about bets equal to an amount
between five and 10% of its market cap. Not exactly chump change.
And Lehman had no idea where it was or how much it really owed.
Mind you, we’re only addressing Lehman’s options and futures derivatives, we’re
completely ignoring its mortgage backed securities, collateralized debt
obligations (CDOs), and other Level 3 assets. Options and futures are literally the
“tip of the iceberg,” the most visible portion of the behemoth that was Lehman’s
off balance sheet derivative issues. After all, these are regulated securities,
unlike most derivatives.
Now, if the above statement doesn’t send shivers down your spine, have a look
at the notional value of derivatives exposure at the top five financial institutions in
the US (mind you, this chart is denominated in TRILLIONS). [chart]
If Lehman had “no idea” what it owned even when it came to options and futures
(regulated derivatives), what are the odds that these other firms, whose
derivative exposure is tens if not hundreds of times larger than that of Lehman’s,
might similarly be “in the dark’ regarding their risk?
Moreover, who on earth might be on the opposite end of these deals? Other US
counties like Birmingham Alabama (which JP Morgan transformed into 3rd world
country status)? Other countries like Italy or Greece (who used Goldman’s
financial engineering to get into the European Union)? My next-door neighbor’s
house? Tim Geithner’s long-lost tax returns? WHO KNOWS?
The point is that the very same issues that nearly took the financial world
under in 2008 still exist today. In fact, this time around the systemic risk is
even more severe.
Consider that the Credit Default Swap (CDS) market which nearly took the
financial system down in 2008 was roughly $50-60 trillion in size. In contrast, the
interest rate based derivative market is in the ballpark of $500+ trillion.
Indeed, US commercial banks alone have $182 TRILLION in notional value of
interest rate based derivatives outstanding right now. To put that ridiculous
number in perspective it’s 13 times US GDP and roughly three times
WORLD GDP…’
Predicting This Year's Bank Failures ‘The FDIC’s quarterly banking profile,
providing data for quarter 2, was released today. The number of 2010
United States bank failures will likely exceed the 2009 failures, the FDIC
reported. This was as I reported in this space back in May. Thus far this
year there have been 118 bank closings, which compares to about 80 by
the same time of year in 2009. The number of banks on the problem list is
still rising. It is now at 829 banks…’
U.S. Auto Sales May Hit 28-Year Low as Discounts Flop Bloomberg | U.S.
auto sales in August probably were the slowest for the month in 28
years as model-year closeout deals failed to entice consumers
concerned the economy is worsening and they may lose their jobs.
A Termite-Riddled House: Treasury Bonds Gonzalo Lira | The United

States will have a fiscal-debt-to-GDP ratio of 100% this year, and 110%
next year — if not higher.
The Reckless Mess Created by The Fed Quantitative easing will put the
American public at ease, at least temporarily. They do not realize it but
the American and world economies are in a deliberate state of slow
collapse. Yes, the Fed has created a terrible mess. They have been
totally unprofessional and reckless.
Gold Is Surging This Morning, And Within A Rock’s Throw Of A Brand New
Record Oh hello. The high is just above $1260, so it could happen
today easily. Stocks are rallying, too, so you know the dollar is getting
whacked. It is.
Second Leg of Crisis Beginning: Hedge Fund Manager September and

October hold bad news for stock markets and banks remain
overleveraged as we head into the second leg of the financial crisis
according to Pedro De Noronha, the managing partner at Noster
Capital in London.
Winners And Losers The reality is that it has now become undeniable that
globalism has arrived and we are now part of a world economy that is
integrating at lightning speed. Unfortunately, all of this globalism has
created some very clear winners and losers. But most middle class
Americans are in such a deep sleep that they don’t even realize that
they are the losers.
Drudgereport: Auto sales: Worst August since 1983...
National / World
Death By Globalism Paul Craig Roberts | The Federal Reserve will monetize
the federal government deficit. The result will be high inflation,
possibly hyper-inflation and high unemployment simultaneously.
What Obama Didn’t Say About Afghanistan Ray McGovern | My Fellow

Americans… so much for Iraq. Turning now to Afghanistan…
Vaccine Death Coverup Implodes Worldwide Infowars.com | Once again the

government wants to push it’s mercury filled vaccines on everyone,
especially children.
Increase in federal spending hits record (Washington Post) [ Sounds like a

plan … the ‘increase the depth of the nation’s bankruptcy’ plan! And, unlike
other american plans, this plan’s working … that bankruptcy thing … but
otherwise, not! ]
Is the U.S. Bankrupt? [YES!] (at Motley Fool) The Administrative Office of
the U.S. Courts recently reported that bankruptcy filings between April and
June hit a four-year high. Consumer bankruptcies rose 21 percent while
business bankruptcies increased eight percent. The list of corporate
bankruptcies over the last couple of years includes big names like Lehman
Brothers, Washington Mutual, and GM. And financial institutions like Bank
of America (NYSE: BAC), Citigroup (NYSE: C), Wells Fargo (NYSE: WFC)
received billions of dollars through the federal government's Troubled
Asset Relief Program. Should investors add the U.S. government to that list
of big name bankruptcies? I recently asked Boston University economics
professor Lawrence Kotlikoff, author of Jimmy Stewart is Dead: Ending the
World's Ongoing Financial Plague with Limited Purpose Banking.
Mac Greer: Larry, I noticed the headline or the title of a recent article that
you wrote, US is Bankrupt and We Don't Even Know It (see infra)
Home prices up 4.2 percent in U.S. (Washington Post) [And america and
ultimately taxpayers paid for every percentage point with money they and
soon taxpayers don’t have and experts say the expiration of same will
further be felt in the form of declining real estate prices going forward. ]
For banks, good news on earnings but not risk of failure (Washington Post)
( The same fraudulent game plan that caused the previous and
continuing debacle: The following from Graham Summers is truly
mind-boggling and a must-read: WHO ELSE IS CLUELESS IN THE
FINANCIAL SECTOR? [ As I’ve previously said and reiterate here, the
lunatic frauds on wall street are criminally insane and the only way to
stop / deter their debilitating churn and earn among other
computerized frauds is prosecution, jail, fines, and disgorgement!
Once again they’re back to their huge fraudulent gains as seen this
reporting period despite growing problem bank list, worthless paper
from the prior fraud in the (hundreds of) trillions now marked to
anything and the current fraud, and look at August (market) results
and worse to come, that money for their commissions / premiums
must come from someplace, viz., the bubble which will crash. ] )
Lenders post their biggest quarterly profit in almost three years, even
as the number of banks at risk of failure rose to 11 percent of insured
institutions.
Predicting This Year's Bank Failures ‘The FDIC’s quarterly banking profile,
providing data for quarter 2, was released today. The number of 2010
United States bank failures will likely exceed the 2009 failures, the FDIC
reported. This was as I reported in this space back in May. Thus far this
year there have been 118 bank closings, which compares to about 80 by
the same time of year in 2009. The number of banks on the problem list is
still rising. It is now at 829 banks…’
Ron Paul to Fed, Ft. Knox: Show Me the Gold at Minyanville
The Deteriorating Macro Picture
1. The explosion in private debt (excessive housing borrowing,

excessive corporate debt, etc) levels would reveal the private sector
as unable to sustain positive economic growth, de-leveraging and
deflation would ensue.
2. Government intervention would help moderately boost aggregate
demand, improve bank balance sheets, improve sentiment, boost
asset prices but fail to result in sustained economic recovery as
private sector balance sheet recession persists.
3. Extremely depressed estimates and corporate cost cutting would
improve margins and generate a moderate earnings rebound, but
would come under pressure in 2010 as margin expansion failed to
continue at the 2009 rate.
4. The end of government intervention in H2 2010 will reveal severe
strains in housing and will reveal the private sector as still very weak
and unable to sustain economic growth on its own.
The rebound in assets was surprisingly strong and the ability of

corporations to sustain bottom line growth has been truly impressive – far
better than I expected. However, I am growing increasingly concerned that
the market has priced in overly optimistic earnings sustainability – in other
words, estimates and expectations have overshot to the upside.
What we’ve seen over the last few years is not terribly complex in my
opinion. The housing boom created what was in essence a massively
leveraged household sector. The problems were compounded by the
leveraging in the financial sector, however, this was merely a symptom of
the real underlying problem and not the cause of the financial crisis
(despite what Mr. Bernanke continues to say and do to fix the economy) …’
Gold Surges To Near $1,250, As Stealthy Flight To Safety Accelerates,

Stocks Oblivious As stocks continue to correlate with exactly nothing,
and are once again lost in their own HFT dreamworld, which fools
Atari in believing the toxic crap it is churning millions of times each
second is worth something (and the exchanges gladly continue to pay
liquidity rebates for said churn), the capital continues to quietly flow
to safety.
Bankrupt Miami in Fiscal Emergency, Breaks Employee Contracts, Hikes
Property Taxes In an enormously foolhardy attempt to make ends
meet, in spite of the fact that Miami home prices have been hammered
and 1-in-8 are unemployed, the County keeps pouring on the painful
tax and fee increases.
Gold Rallying to $1,500 as Soros’s Bubble Inflates Investors are

accumulating enough bullion to fill Switzerland’s vaults twice over as
gold’s most- accurate forecasters say the longest rally in at least nine
decades has further to go no matter what the economy holds.
30 Statistics That Prove The Elite Are Getting Richer, The Poor Are Getting
Poorer And The Middle Class Is Being Destroyed Not everyone has
been doing badly during the economic turmoil of the last few years. In
fact, there are some Americans that are doing really, really well. While
the vast majority of us struggle, there is one small segment of society
that is seemingly doing better than ever.
Obama promises new efforts to boost economy (Washington Post) [ New

efforts with the same old failed team covering for the previous same
old failed team? The same promised new efforts which were nothing
new at all; viz., focus on new war in Afghanistan, increase budget
deficits, a penchant for the very perps who precipitated the financial
crisis and who should have been prosecuted, jailed, fined and
disgorgement imposed, etc.. No details? What’s the matter wobama?
Teleprompter not working? ]Obama offered no new proposals during
brief remarks in the Rose Garden, saying he would provide details "in
the days and weeks to come."
Car sales, spending up, but experts not convinced of trend (Washington
Post) [ I’d say time for ‘mouth to mouth resuscitation’ and a closer look
isn’t even necessary. Some experts? Just ask any guy on main street.
Treading water? I’d say time for post-mortem on the drowning victim.] But
a closer look at those car sales raises questions about whether the auto
market - and consumer spending as a whole - are indeed on an upward arc
or whether they are just treading water.
Obama to loosen rules on technology exports (Washington Post) [ Oooooh!
Sounds like a continuation of the ‘clinton plan’ regarding missile
among other technologies to China which worked so well for america
in maintaining its prominently global position vis-à-vis communist
china et als. Come on! wobama’s so done! Let the next president
determine the probity of such a course! ] White House is overhauling
the decades-old rules for the export of sensitive military and other
technology, jettisoning what industry groups criticize as an antiquated
"Cold War" set of regulations.
In the Middle East, it's still 1947 (Washington Post) [ Indeed it should be!
Among the few times the cia was correct, and they’ve been trying to put
square pegs in round holes ever since, to america’s substantial detriment. I
wonder what what those american sailors of the US Liberty killed by the
israelis would say? USS Liberty Survivor Threatened by Unknown Israeli
This is what happened to Phillip F. Tourney, decorated war hero and
survivor of Israel’s premeditated attack on the USS Liberty 43 years ago.
On the evening of Aug. 6, Tourney was verbally threatened by a foreign
national claiming to work for the government of israel. As for the purported
disdain shown for war mongerer netanayahu, if only wobama’s actions
matched his words, the same would represent a major plus for him and the
nation of america, so sorely in need of pluses whether the same be
budgetary or economic or geopolitical. In fact, for America to abrogate
1948 would guarantee America’s survival, prosperity, and global hegemony
in the most positive sense. ]
In 1948, U.S. Secretary of Defense James Forrestal, an opponent of the

creation of a Jewish state in Palestine, warned that, even though failure to
go along with the Zionists might cost President Truman the states of New
York, Pennsylvania, and California, it was about time that somebody
should pay some consideration to whether we might not lose the United
States. Mr. Forrestal was absolutely correct! Isn’t that exactly what’s
happened to defacto bankrupt america in intractable decline.
TIME TO REVOKE AND NULLIFY THE BALFOUR DECLARATION AND

ABROGATE THE CREATION OF THE NATION STATE OF ISRAEL IN THE
INTERESTS OF FAIRNESS, JUSTICE, PEACE AND PROSPECTIVE
PROSPERITY FOR THIS WORLD!
Obama speech on Iraq has risks (Washington Post) [ Yeah, very true
indeed! The main one being that he’s supplanting that illegal, unnecessary,
nation-bankrupting war with yet another in Afghanistan which will not be
lost on those who supported his candidacy based on promised end to
unnecessary war policies which have diverted time, attention, ill-afforded
resources including personnel and continue to do so even as defacto
bankrupt america crumbles. ]
Home prices up 4.2 percent in U.S. (Washington Post) [And america and
ultimately taxpayers paid for every percentage point with money they and
soon taxpayers don’t have and experts say the expiration of same will
further be felt in the form of declining real estate prices going forward. ]
In the Eye of a Financial Katrina - http://seekingalpha.com/author/wall-

street-sector-selector Sunday, August 29th, was the fifth anniversary of
Hurricane Katrina’s landfall along the Gulf Coast and all of us vividly remember
the horrific images of that day and the days and weeks after. Five years later, the
Gulf Coast has come a long way but most would agree there’s still have a long
way to go and many scars yet to be healed. In the world of money and investing,
the Financial Katrina hit three years ago this month with the beginning of the sub
prime meltdown that led to the “Great Recession.” For the past year or so, we
have been in what appeared to be a recovery but now looks more like the eye of
the storm; today it is quite likely that the second wall of the hurricane is now
rapidly bearing down upon us. The news this week was intensely negative and
the only bright spot came on Friday with Chairman Bernanke’s speech at
Jackson Hole in which he essentially told us, “don’t worry, be happy” and that all
would be well. In spite of the Chairman’s calming tone, Wall Street Sector
Selector remains in the “red flag flying” mode and we believe that an intense
storm lies just ahead. Looking at My Screens On a technical basis, one can
only be bearish and the two charts below tell a quick and scary story. [ chart
courtesy of StockCharts.com ]In the chart of the S&P 500 above we see the
“death cross” highlighted by the downward pointing arrow wherein the 50-Day
Moving Average crossed below the 200-Day Moving Average which is a widely
followed indicator of lower stock prices ahead. In the upper box we see the 14-
day RSI pointing upwards from relatively oversold levels indicating that a short
term bounce could be forthcoming, while the red horizontal line shows the
support at 1040 which was tested and held every day last week. From this
display we can conclude that we are in a bear market, slightly oversold and near
support that, if broken, could lead to a quick drop to the July lows of 1010. [ chart
courtesy of StockCharts.com ] The point and figure chart above paints an even
more ominous picture. A double bottom “sell” signal was generated on August
11th and the index has now broken through the blue bullish support line,
indicating the onset of a new bear market in this major index. Support and
resistance lines in point and figure charting tend to act like firm walls and mark
major turning points in direction, and this recent trend change is the first since
March, 2009, when the lows were hit and last year’s unprecedented rally began.
The breach of this bullish support line is a major development and in my opinion
is an unmistakable sign that it’s time to head for the storm shelters. The View
from 35,000 Feet The fundamental news was equally shocking this week as
existing home sales declined to 3.8 million units for July from a previous level of
5.26 million. This number is a record low and single family home sales were at
the lowest levels since 1995. Truly we are in what could only be described as a
housing market depression, and this comes in spite of historically low mortgage
rates that people appear to be ignoring. Seemingly almost nobody wants to buy a
house at any rate or any price. New home sales fared no better, declining to
record lows, as well, while 25% of mortgage holders are currently “upside down”
in their homes, owning more than they’re worth, and 15% are in some part of the
foreclosure process. Beyond the dismal news from the housing market, the July
Durable Goods report was dismal and points to an ongoing slowdown in capital
spending and on Friday 2nd Quarter GDP was revised downward to 1.6% from a
previous 2.4% in what could only be described as a terrifying result in light of the
stimulus and Federal Reserve intervention required to generate this paltry
number. More and more analysts are pointing to further reductions in GDP for
3rd Quarter towards flat or even negative territory while the stock market seems
currently priced for 1.5-2.5% growth and this creates a situation which is unlikely
to have a positive outcome going forward. Looking across the spectrum of noted
analysts, we find Princeton economist and former Federal Reserve member Alan
Blinder writing an article in the Wall Street Journal titled, “The Fed is Running out
of Ammo” and noted Yale economist Robert Shiller appeared on the Wall Street
Journal’s “Big Interview” and said that a double dip “may be imminent.” And
finally Albert Edwards, the noted analyst from Societe General says to look for
450 on the S&P 500, a roll back to 1982 levels. Fidelity reports that in the second
quarter 25% of people took hardship withdrawals from their 401ks, a number that
represents a 10 year high, to help them meet living expenses and the ECRI
remained in recessionary territory with a -9.9% reading last week. On Friday Intel
(INTC) cut its earnings and revenue forecast and across the Atlantic Ireland was
downgraded and given a negative outlook by S&P. Also in Europe, interest rates
and Credit Default Swap pricing continued to rise as their sovereign debt
situation continues to erode confidence in the outcome of the European Central
Bank’s historic intervention efforts of a couple of months ago. The bond market
remains priced for Armageddon, forming what many say will one day be the
biggest bubble of all time and lead to a historic crash in the bond market
somewhere down the road. But on Friday, Dr. Bernanke cheered world markets
when he told us that he expected no double dip, that growth would continue and
improve and that he and his colleagues stood ready to do whatever it takes to
avoid deflation and that he had the tools to lead the global economy to recovery.
This upbeat assessment comes after unprecedented government stimulus,
interest rates lowered to near zero and $1.7 Trillion of asset purchases by the
Fed since the onset of the Great Recession. So one can only wonder how this is
going to work. If the medicine hasn’t worked so far, why would a little more of the
same medicine make a difference? What It All Means As we’ve been saying for
weeks, a double dip looks highly probable with the odds growing daily, lower
stock prices look likely and to make your chest feel even tighter, summer is
almost over, traders will be back from the Hamptons, the kids will be back in
school and we’re about to enter the dreaded month of September which is
historically the worst month for stock market performance. At Wall Street Sector
Selector, we remain in the “Red Flag” mode, expecting lower prices ahead, and
we forecast that the second storm wall of the Financial Katrina is about to hit.
The Week Ahead To say that a major week lies ahead is a massive
understatement. Economic Reports: A busy round of economic reports this
week will give us a look at personal income and spending, home prices,
manufacturing and what the Federal Reserve really thought at their recent
meeting with everything leading up to the climactic Non Farm Payroll report on
Friday. Certainly all of this will be food for thought going into the long Labor Day
weekend. Tuesday: 0900: Case/Shiller 20 City Home Price Index 0945: August
Chicago PMI 1000: August Consumer Confidence. 1400: FOMC Meeting
Minutes Wednesday: 0815: July Construction Spending 1000: August ISM Index
1400: August Auto Sales Thursday: 0830: Initial Unemployment Claims,
Continuing Unemployment Claims 1000: July Factory Orders 1000: July Pending
Home Sales Friday: 0830: August Non Farm Payrolls 0830: August
Unemployment Rate 1000: ISM Services Sector Spotlight: Leaders: Silver, Oil,
Copper Laggards: Mexico, Global Shipping, South Korea This week we’re
heading for Southwest Florida for a last week of R&R before school starts and
reality strikes after the long Labor Day weekend. We hope to have a nice time on
the beach and not see any tar balls between our toes. Sadly, I’m sure this year’s
Labor Day celebration won’t be a particularly happy occasion for the 14.6 million
of our fellow citizens who remain unemployed and I can only wish them the very
best and a speedy return to gainful employment and happier days ahead.
Disclosure: RWM, PSQ, SH, SEF, EFZ, SKF, VXX, S&P 500 Put Option
Jim O’Neill Suggests It May Be Time For The US To Give Up On Our Own
Middle Class, And Focus On China’s Zero Hedge | China will be
ecstatic that the US will now be funding the development of its own
middle class. As for ours… Oh well.
The Elites Have Lost the Right to Rule Zero Hedge | When you get too
many people of a particular mindset (in this case highly quantitative
and academic) to aggregate in a field that is very much a people
business and one where “street smart” common sense is of extreme
importance you are asking for serious trouble.
Ron Paul: Where Is the Gold? [ As I’ve previously written, I believe that
beyond the gold plate, Fort Knox has been looted. ] New American |
Congressman Ron Paul revealed that next year at the start of the
newly inaugurated 112th United States Congress, he would introduce
a new bill to audit the U.S. gold reserves.
Five reasons to be optimistic about the economy (Washington Post) Neil

Irwin |(Very) Political Economy [The unflappable Mr. Irwin. Fraudulent wall
street’s shill and man for all seasons falls in with the following as his glass
half-full runneth over: Those Who Ignore History...
Ron Paul: ‘There Might Not Be Any Gold In Fort Knox’ Paul, a longtime
critic of the Federal Reserve and U.S. monetary policy, said he
believes it’s “a possibility” that there might not actually be any gold in
the vaults of Fort Knox or the New York Federal Reserve bank.
Obama’s Department of Justice Puts Out Master Patriot Hit-list The word
constitutionalist is now shorthand for the sovereign citizen
movement, in other words people who support the Constitution and
the Bill of Rights are violent cop killers.
Government Think Tank Calls For Infiltrating Conspiracy Websites Furious

that state involvement in major terror attacks is being exposed to a
wider audience than ever before via the Internet, a UK think tank
closely affiliated with the Downing Street has called for authorities to
infiltrate conspiracy websites in an effort to “increase trust in the
government”.
The Death Of Cash? All Over The World Governments Are Banning Large
Cash Transactions Legislation currently pending in the Mexican
legislature would ban a vast array of large cash transactions, but the
truth is that Mexico is far from alone in trying to restrict cash. All over
the world, governments are either placing stringent reporting
requirements on large cash transactions or they are banning them
altogether.
Two Men Held On Terrorism Precrime Charges as Anti-Muslim Hysteria

Reaches Fevered Pitch Kurt Nimmo | The arrest of two men in
Amsterdam on “preparation of a terror attack” charges could not have
come at a more opportune time.
‘Vaccine Deaths’ Reaches Top of Google Trends Matt Ryan | Alex Jones
would like to commend and thank everyone for their continued
support in the InfoWar.
Vaccine Deaths And Injuries Skyrocket As Cover-Up Implodes Paul Joseph

Watson | Global revolt against deadly vaccines spreads as cases of
debilitating illnesses, soft-kill side-effects and even instant deaths
become widespread
Report: Israel planning to attack Hezbollah arms depots in Syria Israel is

planning to attack Hezbollah arms depots and weapons
manufacturing plants in Syria, the Kuwaiti newspaper Al Rai reported
on Saturday. The report is based on Western sources who asserted
that Israel has increased its military force level along the northern
border in the Golan Heights and Mount Dov areas.
USS Liberty Survivor Threatened by Unknown Israeli This is what

happened to Phillip F. Tourney, decorated war hero and survivor of
Israel’s premeditated attack on the USS Liberty 43 years ago. On the
evening of Aug. 6, Tourney was verbally threatened by a foreign
national claiming to work for the government of Israel.
EU Popularity Plunges Right Across the Bloc People’s confidence in the

the European Union has dropped to record lows in most countries
amid a placid response to the rising unemployment and the troubles
of the eurozone, a Eurobarometer published on Thursday shows.
China’s Central Bank Chief Rumored To Have Defected Rumors have

circulated in China that People’s Bank of China Gov. Zhou Xiaochuan has
left the country. The rumors appear to have started following reports on
Aug. 28 which cited Ming Pao, a Hong Kong-based news agency, saying
that because of an approximately $430 billion loss on U.S. Treasury bonds,
the Chinese government may punish some individuals within the PBOC,
including Zhou.
Drudgereport: AMERICA RUST- India's economy races 8.8%...

Russian economy grows 4.0%...
German unemployment rate 7.6%...
FDIC MESS: 829 BANKS AT RISK...
48 HOURS: 21 American soldiers killed in Afghanistan...
Worst August For Stocks Since 2001...
Congressional Travel Stipends Probed...
Dems face midterm meltdown...
Ron Paul questions whether there's gold at Fort Knox, NY Fed...
Dow Falls 140 Points; Banks, Industrials Slide...
1 OUT OF 6 TAKE GOV'T AID...
Homelessness Up 50% In New York City...
OBAMA BLAMES BUSH AGAIN FOR ECONOMY … [ bush (et als) does
deserve blame but with flawed pro-fraudulent wall street among other non-
policies and continued nation-bankrupting war, wobama is a distinction
without a difference and has bought it and can no longer shirk
responsibility with the blame game ] ...
Iran state media call French first lady prostitute...
EDUCATION SEC URGED STAFF: GO TO SHARPTON RALLY
Bernanke, other leaders talk economic policy (Washington Post) [Yeah,
they can talk the talk, but we all know based upon reality, ie., that no-
recession thing aka financial debacle / disaster, etc., we’re still feelin’
in a very big way, they just can’t can’t walk the walk!]
Google wants in on the social networking game (Washington Post) [ I’ll bet
they do … and as a cia/nsa front, if you’re a sound thinker and arrange
a meet with a newfound friend thereon, be prepared for almost
anything; ie., guns with silencers, garroted from behind, knife attacks,
sudden acceleration of cars toward you when crossing crosswalks,
etc. ] This Tweet -- "Google to launch Facebook competitor very soon"
-- unleashed a sense that the online world as we know it was about to
fundamentally change.
Stocks up [america down] (Washington Post) Previously reported

economic growth, upon which hundreds of rally ‘points’ were predicated,
revised down by 50% of the actual 1.6%. This is typical but no small
laughing matter which bespeaks the wayward ways of wall street that got
us to this debacle which also includes defacto bankruptcy of the nation.
So, GDP down, consumer confidence down, and stocks rally like no
tomorrow (which is the fraudulent wall street time horizon … they’ll just
commission on the way down). Am I missing something here, particularly
when a more sobering view from a rational player, INTEL, is far more
credible? One former fed chair likened no-recession-helicopter ben
bernanke’s factually deficient, empty words to ‘a doctor telling a patient
he’s not sure of what the problem is (that economic uncertainty thing he
referenced), but if his leg gets worse he can always amputate.’ Previously,
as pertains to the jackson hole no-recession-helicopter-ben b*** s*** non-
event / talk. Fed action signals new activism (WP) [ Riiiiight! The activist
fed! That’s all we need. As if we needed more of what brought us to this
point! Certainly the fed’s role in the continuing and current financial crisis /
debacle cannot be ignored or disputed. Nothing like a hegelian
methodology to create the very problems for which they are called upon to
offer solutions, increasing their sense of importance, and concentrating
power thereby. (Think about it. It is really rather quite absurd that each
meeting time the financial markets hold their bated breath for these
incompetent boobs). Then there’s the cover-up with an opportunity for
enrichment of some, usually the tight-lipped yes-men then ever after and
forever bonded in what becomes tantamount to an almost fraternal link by
‘virtue’ of the crime thereby. No, I’m not saying their initial missteps were
necessarily badly intended, but the manipulations thereafter to obfuscate
their incompetence (senile greenspun, no-recession-helicopter-ben, etc.)
comes at a great price and is nothing less than tantamount to or just
outright crime. I’d abolish the fed without hesitation or compunction. After
all, at this point of decline and defacto bankruptcy of the nation you
certainly can’t point to success nor argue their indispensability. Then
there’s also the missing trillions, over-printing of fiat currency, and all that
sub rosa activity with the worthless fraudulent toxic paper which I believe
is being supplanted with ultimately hard currency to the great benefit of the
frauds and great detriment to the nation.]
Fed vows to act if economy stalls (Washington Post) [ Wow! Really!

Sounds like a plan! A ‘no-recession-helicopter-ben’ plan! One former fed
chair / bk. pres. likened no-recession-helicopter ben bernanke’s factually
deficient, empty words to ‘a doctor telling a patient he’s not sure of what
the problem is (that economic uncertainty thing no-recession-helicopter-
ben referenced), but if his leg gets worse he can always amputate’
New rules for your money (Washington Post) [What they really mean
refers to the lack thereof; that new defacto bankrupt american reality
and all that flows therefrom in the most negative sense. ] Kiplinger's
Personal Finance In this era of high unemployment, flat home prices
and do-it-yourself retirement savings, some traditional rules of saving
and investing are due for an overhaul.
Why is the recovery faltering? (Washington Post) [ Oooooh! ‘Dat ben! He

gives such great, unctuously soothing talks. Along with wobama, we must
consider this time, a time for defacto bankrupt American decline with the
cocomitant rise of b*** s*** . The watchwords are no longer (as in
Hollywood and elsewhere) ‘pastics’, ‘computer chips’, but rather b*** s***
and more b*** s***! I truly must say, almost as a ‘revenge to Samuelson
economics kind of thing’, that Mr. Samuelson here talks symptoms rather
than (structural) causes and totally misses the (big) macroeconomic
picture and should be chastised for faulting prudence.]
Make Sure the Bunker is Well Stocked Mike Whitney Information Clearing
House August 29, 2010 Robert Herz was forced to resign from his job
as as chairman of the Financial Accounting Standards Board (FASB)
because he insisted that the banks assign a fair value to their assets.
That’s not what you’ll read in the papers, but it’s true just the same.
Herz [...]
“Monetary Shock and Awe”: The Fed prepared to launch most Radical
Intervention in History There’s no talk of green shoots any more, and
even the deficit hawks have gone into hibernation. It feels like the
calm before the storm, which is why all eyes were on Jackson Hole
this morning where Fed chairman Ben Bernanke delivered his verdict
on the state of the economy on Friday.
Debt, Depression, Default. America is in Deep Trouble Items we

customarily purchase, i.e., shoes, clothes, cars would become too
expensive. Consequently, the American financial woes would result in
a global financial decline. The enviable American standard of living
will decrease and the next generation will be saddled with
insurmountable debt, not of their making.
The US Government Matches Every Dollar In Tax Revenue With A Dollar In

New Debt In our attempts to simplify the comprehension of the
ongoing serfdomization of the US population, we would like to present
one of the more persuasive charts which the administration would
likely be loath to demonstrate.
Helicopter Ben Bernanke Says Everything Is Going To Be Okay Don’t worry

everybody. Federal Reserve Chairman “No Recession Helicopter Ben”
Bernanke says that the U.S. economy is going to be just fine, and that if it
does slip up somehow the Federal Reserve is ready to rush in to the
rescue. That was essentially Bernanke’s message to an annual gathering of
central bankers in Jackson Hole, Wyoming on Friday.
China is Unloading its Treasury Bonds Oil Price | It looks like the smart
money these days is found in China.
Collapse Survival Will Be Tribal: Begin Recruiting Now Human World Order |
The controllers are orchestrating the collapse of the American
economy and society right now, albeit in slow motion, but it is already
crumbling.
The US Government Matches Every Dollar In Tax Revenue With A Dollar In

New Debt In our attempts to simplify the comprehension of the
ongoing serfdomization of the US population, we would like to present
one of the more persuasive charts which the administration would
likely be loath to demonstrate.
Mullen: National Debt is a Security Threat [Daaaaah!]The national debt is

the single biggest threat to national security, according to Adm. Mike
Mullen, chairman of the Joint Chiefs of Staff. Tax payers will be paying
around $600 billion in interest on the national debt by 2012, the
chairman told students and local leaders in Detroit.
U.S. birth rate falls again, a possible effect of economic downturn The
number of babies born in the United States has dropped for the
second year in a row, according to new federal statistics released
Friday that provide more evidence that the nation’s economic troubles
are affecting the birth rate.
Is Ben Lost? [Yes!] Butter ‘The much awaited speech by Ben Bernanke, on
Friday, was a bit of a non-event. It was interesting, however, to see the 30
Year bounce, from 3.55% to 3.7%, the moment that Ben explained his
cunning plan to push long-term interest rates down. But at least we learned
that $140 billion of the $1.25 billion the Fed advanced to buy agency debt
and MBS, got repaid. One question Ben: “How much did you pay for the
$140 billion that got repaid? Did you make a profit, or are you going to wait
until Ron Paul’s audit before you let us know how that went?.” I know I’ve
got a dirty mind, but I can’t help thinking that if Ben had made a profit on
that transaction, he would have been crowing about it. I loved this bit,
particularly the “Thus”:
Thus, our purchases of Treasury, agency debt, and agency
MBS likely both reduced the yields on those securities and
also pushed investors into holding other assets with similar
characteristics, such as credit risk and duration. For example,
some investors who sold MBS to the Fed may have replaced
them in their portfolios with longer-term, high-quality
corporate bonds, depressing the yields on those assets as
well.
Hmm…
1. Even Alan Greenspan and Larry Summers conceded that there is

absolutely nothing that the Fed can do to change long-term Treasury
yields. But, now Ben the Boy is saying that he can do that, he must
be Superman!
2. Good to see that Superman is also taking the credit for pushing
down yields on agency debt and toxic MBS. Obviously he is a
genius, the Maestro is re-incarnated, Err…but here is one little thing;
he’s the only guy buying that garbage.
3. Oh, and whoopee, Ben thinks that the “investors” (translate
deadbeat zombie banks), who sold him their (toxic) MBS, have all
rushed out to buy corporate bonds. I’m not quite sure what planet
he’s on. I thought they either kept the money on deposit with the
Fed, or bought Treasuries to repair their capital adequacy. Note the
“may”…as if he didn’t know!
But this was the kicker, admittedly hidden away between jargon-heaped on
jargon, but there all the same:
(Al those good things managed)... provide further support for

the economic recovery while maintaining price stability, the
Fed has also taken extraordinary measures to ease monetary
and financial conditions.
I especially love the part about “further” support. As if the banks are going
out and lending money to Main Street, as opposed to simply using their
free, Fed supplied, get-out-of-jail card to create an illusion of solvency
whilst they “extend and pretend”. Similar to what happened in Japan after
their bubble burst. The real gem, however, was the idea of “maintaining
price stability”. What that means is stopping assets prices (house prices,
commercial real estate, and to some extent stocks) from going down to
where they have to go, before market clearing can start. Funny how when
asset prices were bubbling through the roof, that was not considered
“inflationary” by the Fed and was not something to be concerned about.
But, when asset prices fall through the floor, that is considered deflationary
(or disinflationary), and is very bad. Ben looks to me suspiciously like a
greenhorn lost in the woods who used up all his ammo shooting at
shadows. And yet, there is the Big Bad Wolf of private sector deleveraging
faster than he can run the printing presses, (and more importantly, get that
money out into the real world) lurking round the corner.’
Headed for a Double Dip_
Sotomayor Says Court May Rule to Limit First Amendment in Response to

Wikileaks Kurt Nimmo | Sotomayor’s comment is a warning that the
Supreme Court may soon use the Wikileaks case restrict the First
Amendment.
The Nazification of the United States Paul Craig Roberts | September 11

destroyed American liberty, the rule of law and the US Constitution.
Fidel Castro: Osama bin Laden Worked for CIA Guardian | Fidel Castro
reveals what many of us have known for years — Osama bin Laden
was a prized CIA asset.
Conclusive: Global Distribution of Rockefeller-Funded Anti-Fertility

Vaccine Coordinated by WHO Jurriaan Maessen | It is a dream long
cherished by the global elite: an anti-fertilization program with the aim
of reducing the world’s population
We Need A Revolution, Not A Movement Chuck Baldwin | The Tea Party

movement, while still a force with which to be contended, has already
been diluted and compromised.
Corporate Media Dismisses Castro’s Bin Laden Claim As Far-Fetched
Conspiracy Theory The corporate media wasted little time in seizing upon
controversial Cuban leader Fidel Castro’s comments about Osama bin
Laden being a U.S. spy to deride the claim as a far-fetched conspiracy
theory, and yet the fact that Bin Laden was once a CIA protégé and has
been used time and again to the benefit of the U.S. government’s
geopolitical agenda is a documented fact.
Drudgereport: 7 US troops killed in latest Afghanistan fighting...

Castro: Osama bin Laden is US spy...
PAPER: CIA secretly paying Afghan officials...
7 U.S. troops die in Afghanistan violence (Washington Post) [ I was

discussing my opposition to the contrived conflict in Iraq with a former air
force man with high (top?) security clearance from economic, geopolitical,
and humanitarian perspectives; and further, mentioned I had sought and
gotten an appointment to West Point (I was exempt) so I could go (Vietnam)
as an officer rather than a grunt who were being used as mere cannon
fodder as now in Iraq (I also related the fact that I am thankful, for a
multitude of reasons, I changed my mind in light of then new realities). He
replied, quite seriously, that’s what they’re there for… No they are not! But
yes, that is their unequivocal, unforgiveable attitude beyond the b*** s***
(look at cheney-5 deferments, bush-powderpuff duty courtesy of poppy
bush, clinton-draft dodger, wobama-never served, etc.. Just a destructive
waste!) The latest deaths bring to 42 the number of American forces who
have died this month in Afghanistan after July's high of 66.
U.S. officers weary and humbled (Washington Post) [ Indeed they should
be; and, if they are able to make sense of the last 2 decades particularly,
they are certifiably true american crazy, a condition in the u.s. and among
it’s war mongering allies that is found in self-destructive abundance. No
joke! And then there are the crimes / frauds. My position is also that such
frauds as the disappearance of the 360 tons of $100 bills, etc., and similar
such frauds should come right off the top, a direct reduction in their budget
allocation particularly in light of the defacto bankruptcy of the nation! ]
How Iraq vets make sense of the last seven years will affect how america
wields its military power [very poorly indeed!] .
Is the U.S. exporting terrorism? (Washington Post) [The newspaper that

never sleeps…The Washington Post
WikiLeaks Release: CIA Red Cell Special Memorandum – What If

Foreigners See the United States as an ‘Exporter of Terrorism’ [Which
of course is the reality, along with israel; you do recall those israeli
operatives who were caught cheering the 911 hit, the so-called pearl
harbor event so cherished by the neo-cons.] The document states,
“This report examines the implications of what it would mean for the
US to be seen increasingly as an incubator and ‘exporter of
terrorism.’” However, it doesn’t go on to mention the U.S. state
sponsored terrorist activities of the Proactive, Preemptive Operations
Group (P2OG).
We’re Already In Recession [actually a depression] Harding ‘‘… look at

the trend. After an unusual four straight quarters of negative growth in the
severe 2008-2009 recession, the recession ended in the September quarter
of last year when GDP managed fragile growth of 1.6% for the quarter, and
then improved to 5.0% growth in the December quarter.It was understood
that much of that growth was temporary, fueled by government spending,
and spending by consumers provided with government bonuses and
rebates, as well as temporary rebuilding of inventories by businesses. But
it was expected that with that jumpstart the recovery could continue on its
own legs.So, it was a bit of a surprise when GDP growth slowed to 3.7% in
the March quarter of this year while those programs were still having an
influence. But economists still expected the economy would grow at a 3%
pace in the June quarter even with those programs winding down, and for
the rest of the year.So, it was a real disappointment when second quarter
growth was reported a month ago as having been only 2.4%. Plus, when
additional data became available for May and June, the last two months of
the second quarter, and those reports were increasingly negative,
economists predicted that Q2 GDP growth would be revised down to only
1.3%.On Friday, the revision was released, and it showed growth last
quarter slowed significantly, but only to 1.6%, not as bad as the latest
forecast.The media and the stock market, starving for good news–and with
the market short-term oversold after being down 10 of the previous 13
days–took it as a positive. But let’s get real.The issue is not whether
economists got their forecast right or wrong, but the degree to which
economic growth is slowing. And a trend of 5% growth in the December
quarter, followed by a 1.3% decline to 3.7% growth in the March quarter,
followed by a 2.1% decline to 1.6% growth in the March quarter is a chilling
rate of decline.Now factor in that economic reports so far for July and
August, the first two months of the third quarter, have been significantly
worse than those of May and June, and significantly worse than
economists’ forecasts, with the relapse pretty much across the board; in
the housing industry, manufacturing, retail sales, consumer and business
confidence, the decline in U.S. exports, and so on.It’s not a stretch then to
think that economic growth is declining by another increment of more than
1.6% this quarter, which would have it in negative territory, already in
recession.In his speech Friday morning at the annual economic
symposium in Jackson Hole, Wyoming, Fed Chairman Bernanke, while
saying he still expects the economy to grow in the second half “albeit at a
relatively modest pace” did not put forth a very convincing argument,
using such phrases as “painfully slow recovery in the labor market”. . .
“economic projections are inherently uncertain”. . . . “the economy is
vulnerable to unexpected developments” . . . “the recovery is less vigorous
than we expected.”Nor did he seem confident that the Fed’s depleted
arsenal of tools to re-stimulate the economy would be effective if needed.
Two of the four possible actions he mentioned seemed to suggest
consumers and markets could be fooled into confidence with mere talk.His
brief list of four possible actions were, “1) conducting additional purchases
of longer-term securities [bonds and mortgage-related securities]; 2)
modifying the Fed’s FOMC meeting communications to investors; 3)
reducing the interest the Fed pays banks on their excess reserves. And I
will also comment of a fourth strategy, proposed by several economists-
namely, that the Fed increase its inflation goals.”Providing details on two
of the four possible actions, he said, “The Fed’s current statement after its
FOMC meetings reflects the FOMC’s anticipation that exceptionally low
interest rates will be warranted ‘for an extended period’ . . . A step the
Committee could consider if conditions called for it, would be to modify the
language to communicate to investors that it anticipates keeping the target
for the federal funds rate low for a longer period of time.”As for the fourth
possible action in his list of four, he said the Fed could alter the phrases it
uses to communicate its goals for inflation by “increasing its medium-term
inflation goals above levels consistent with price stability.”That’s scary
stuff if those are two of the four actions the Fed sees as its best options to
re-stimulate the economy.Also of concern, in its report revising Q2 GDP
growth down to just 1.6%, the Commerce Department reported that
corporate earnings declined significantly in the second quarter, after-tax
earnings rising just 0.1%, compared to the gain of 11.4% in the first quarter.
Meanwhile, Wall Street continues to ratchet up its earnings estimates.On
the positive side, consumer spending, which accounts for 70% of the
economy, rose 2% in the second quarter, compared to 1.9% in the first
quarter. But the bad news is that the reports since, on consumer
confidence and retail sales in July and August, have been big
disappointments.Putting it all together, don’t be surprised if a couple of
months down the road we learn the economy was already in recession in
the current quarter.’
Drudgereport: MORGAN STANLEY: Government Bond Defaults Inevitable …

How did this escape mainstream … this is very big news though not new
news but would be newly reported news which smart people knew was
news before this news was even reported as news on the Drudge news web
site … they deserved this redundancy for which there is no excuse in not
covering ...
Cramer Gets It Wrong With “Mass Panic” GDP Forecast [To the contrary,
among the few times cramer got it right … I mean, come on … you
don’t think that initial number and now this better than all forecasts is
correct … one couldn’t be that dumb. ]
Fed vows to act if economy stalls (Washington Post) [ Wow! Really!

Sounds like a plan! A ‘no-recession-helicopter-ben’ plan! One former fed
chair / bk. pres. (Brusca) likened no-recession-helicopter ben bernanke’s
factually deficient, empty words to ‘a doctor telling a patient he’s not sure
of what the problem is (that economic uncertainty thing no-recession-
helicopter-ben referenced), but if his leg gets worse he can always
amputate’.] U.S. markets rebound on news that central bank will step in if
conditions unexpectedly worsen.
China is Unloading its Treasury Bonds Oil Price | It looks like the smart
money these days is found in China.
Collapse Survival Will Be Tribal: Begin Recruiting Now Human World Order
| The controllers are orchestrating the collapse of the American
economy and society right now, albeit in slow motion, but it is already
crumbling.
10 Leading Retailers Close Stores Mish’s Global Economic Trend Analysis |
Signs of weak consumer discretionary spending are popping up in
multiple places.
U.S. Postal Service Starts Quoting SDR to Dollar Conversion Rates, and
IMF Endorses Replacing Dollars with SDRs I have repeatedly pointed
out that it is possible that the IMF’s special drawing rights (SDRs) will
become the world’s reserve currency. And as I noted in April 2009,
there is some possibility that the “Bancor” will ultimately fill that role.
Why Are Home Sales Plummeting? On the surface, it is because the

government’s tax-credit for first-time home buyers lapsed in April. It
takes a couple of months lag-time between buyer purchase decisions
and the actual close of escrow, and so the expiration of the tax-credit
is just now hammering the market.
Bearish Sentiment Officially Reaching Fever Pitch Friday promises to be a

huge day (at least in the early going) with both the Fed and the Q2
GDP revisions potentially giving investors more reasons to panic. The
questions: is panic hitting peak levels?
Drudgereport: Analyst:CITIGROUP 'Cooking the Books'...

Banks back switch to renminbi for trade; Incentives to move from dollar
and euro...
THE SPEECH: Bernanke under pressure to prop it up...
'RECOVERY SUMMER' ENDS SICK
GDP REVISION: 1.6%
Says recovery softer, Fed prepared to buy more...
Weaker GDP raises stakes...
WIRE: What Biden didn't mention on stimulus...
ZUCKERMAN: The Most Fiscally Irresponsible Government in History …
along with bushes’...
Joint Chiefs Chairman: National Debt is a Security Threat...
Recession pushes US birth rate to new low...
RECOVERY BUMMER: Youth employment lowest since 1948...
Thousands line up before dawn for mortgage help in Palm Beach County...
Report on Fannie, Freddie gives new theory for collapse (Washington Post)
Since ‘it’s always something’, time to contact Rosanne Rosanna
Danna to straighten this out! Tiny tim geithner, God bless us
everyone, ‘has also pointed to the weight of souring guaranteed loans
as a source for the companies' troubles. …Riiiiight! Guarantee’s are
the thing! … Rosanne Rosanna Danna, formerly of SNL fame needs to
chime in with what her mama always used to say, ‘ It’s always
something ‘ . Of course, it matters little to the frauds and what their
frauds are on wall street what the something is said to be since the
reality is … ‘This is a global depression. This is a secular bear market
in a global depression. This was a manipulated bull (s***) cycle in a
crashes.’
Flow of imports drags down economic growth (Washington Post) [Ah,

eureka! So that’s what did it! Nothing to do with transferring
productive capability overseas / elsewhere as warned against by Ross
Perot and celebrated by those long-term thinking frauds on wall
street. Well, we still have the worthless paper to move around and
commission as warned against by Morita of Sony fame.]
Chossudovsky: China could already be world’s largest economy
Stocks slip as caution about the economy returns Associated Press

(Washington Post) [Caution? Is that what they’re calling reality these
days? ] Stocks fell Thursday after early gains from a better report on
jobless claims faded in late trading, sending the Dow Jones industrial
average to its first close below 10,000 since early July.
Is the U.S. Bankrupt? [YES!] (at Motley Fool) The Administrative Office of
the U.S. Courts recently reported that bankruptcy filings between April and
June hit a four-year high. Consumer bankruptcies rose 21 percent while
business bankruptcies increased eight percent. The list of corporate
bankruptcies over the last couple of years includes big names like Lehman
Brothers, Washington Mutual, and GM. And financial institutions like Bank
of America (NYSE: BAC), Citigroup (NYSE: C), Wells Fargo (NYSE: WFC)
received billions of dollars through the federal government's Troubled
Asset Relief Program. Should investors add the U.S. government to that list
of big name bankruptcies? I recently asked Boston University economics
professor Lawrence Kotlikoff, author of Jimmy Stewart is Dead: Ending the
World's Ongoing Financial Plague with Limited Purpose Banking.
Mac Greer: Larry, I noticed the headline or the title of a recent article that
you wrote, US is Bankrupt and We Don't Even Know It. So with that in mind,
what is your take on the economy these days?
Larry Kotlikoff: Well there is a lot of uncertainty, as rightfully there should
be. We have seen the financial sector implode basically because of the
systematic production and sale of trillions of dollars of fraudulent
securities under the cover of proprietary information, so nobody really had
the ability to look inside big companies like Bear Sterns or Merrill Lynch to
see exactly what they owned or owed. That problem remains today, even
with the passage of Dodd-Frank. There is no requirement that the financial
industry come clean with respect to what it is doing with our money, so
every major financial player says you can't see what we are doing because
we have the Midas touch. We are going to beat the market, and if we show
you, everybody will see our secret formula for making you a mint. As a
result, they have a great cover to produce fraudulent securities. And then
when there is a sniff of fraud, one can easily presume that everything they
are doing is fraudulent, which may not at all be the case. And then there is
a run against those institutions as we saw with Bear Sterns and Lehman
Brothers and all the other ones because of the perception that so much of
their holdings were fraudulent and that their reporting was fraudulent. And
of course the rating companies and the regulators and the boards of
directors and the members of Congress were all, in effect, in bed with each
other to achieve this result. I don't see anything that has fundamentally
changed, so that is one major area of fragility. We could have another
meltdown in the financial market tomorrow because as Dick Fuld [Lehman
former CEO] said, he claims that their balance sheet was just fine and that
this was all just a panic, it was not connected with any facts. Well, he said
that every institution on Wall Street --- Goldman Sachs (NYSE: GS), JP
Morgan (NYSE: JPM) -- could have experienced the same thing. His
concern about this happening to other companies is well taken. So we have
a financial system that is set up to fail again, and we have a fiscal situation
which is a complete and dire mess. It could lead to a financial panic that
could lead to a much bigger meltdown of the financial system than we have
seen.
Greer: Is the U.S. bankrupt?
Kotlikoff: Bankruptcy means not being able to pay your future bills. If you
can't pay your current bills, your creditors are already after you so you
already are bankrupt. If you can't pay your future bills, that really is the
operational definition of going bankrupt or being bankrupt. The U.S.
government can't pay its future bills. These bills, in total, in present value,
exceed the revenues by $202 trillion. This is based on taking the data
projected by CBO (Congressional Budget Office) back on June 26 of this
year, when they put out their alternative fiscal scenario, which is their best
long-term projection of government spending, including servicing the
official debt, and government revenues. And if you present value the
differential between spending and revenues, including extrapolating
beyond their projection which is important to do, you get a fiscal gap of
$202 trillion. To come up with $202 trillion in present value, you'd have to
immediately and permanently double all taxes we have. You'd have to do it
immediately. We're talking here about running a 5% GDP surplus this year
instead of running a 9% deficit. So I don't see that happening. We have to
cut spending or we have to print money. Either way you're cutting
spending so either way you're, in effect, reining in spending promises. And
that suits my definition of bankruptcy. And I think there are ways of cutting
spending and getting our fiscal house in order but we need to engage in
radical surgery here and not putting on the band-aid that this
administration is so fond of.
Greer: One of our Motley Fool writers recently interviewed Euro Pacific
Capital President Peter Schiff. In 2006, he was predicting the economic
downturn, and he now says that we are, "In the early stages of a
depression now. It is going to be a horrific experience for average
Americans who are going to watch their standard of living plunge." Do you
agree?
Kotlikoff: Well, this has been a depression so far for millions of Americans.
It didn't have to happen. It is really man-made. We have the same physical
capital and human capital sitting here in place. We don't have to stay in a
depressed state. The problem is that things are not coordinated. We don't
have buyers optimistic about getting paid salaries and we don't have
sellers optimistic about being able to find buyers, so everybody is kind of
sitting on their hands. We can have some, a bunch of KISS's, which are
"keep it simple, stupid" solutions to our problems, and lots of people
throughout the country realize this, that we need to fix things
fundamentally. We can't do it with 2,000 page bills that make bureaucratic
structures that are basically clogging up our economic arteries, even more
bureaucratic…
10 Practical Steps That You Can Take To Insulate Yourself (At Least
Somewhat) From The Coming Economic Collapse The Economic
Collapse | Most Americans are still operating under the delusion that
this “recession” will end and that the “good times” will return soon.
America’s Debt: The BIG Wave Damien Hoffman | This, my friends, is only
the tip of the iceberg of what will unfold should we choose to kick the
proverbial can farther down the road.
S&P Says US Should Act to Protect AAA-Rating: Report The United States
government needs to take steps to preserve its top AAA-rating, a
Standard & Poor’s Ratings (S&P) official told Dow Jones newswire in
an interview published on Thursday.
It pays to riot in Europe Dublin has played by the book. It has taken pre-
emptive steps to please the markets and the EU. It has done an IMF
job without the IMF. Indeed, is has gone further than the IMF would
have dared to go.
The Economy When Debt Is Everywhere As a result of austerity, imposed

on Greece by its Illuminist led government, unemployment has hit
70% in some places. The country’s budget deficit has been reduced
by 40%, truly draconian. Spending by government has been cut 10%,
which is more than double what the EU and IMF has required.
10 Practical Steps That You Can Take To Insulate Yourself (At Least
Somewhat) From The Coming Economic Collapse Most Americans are
still operating under the delusion that this “recession” will end and
that the “good times” will return soon, but a growing minority of
Americans are starting to realize that things are fundamentally
changing and that they better start preparing for what is ahead.
China Buys Euros as Fear of World Depression Grows Webster G. Tarpley |
The one certainty is that there is no recovery, and that the second wave of
a world economic depression dominates the world.
Economy Caught in Depression, Not Recession: Rosenberg Positive gross

domestic product readings and other mildly hopeful signs are masking an
ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff
economist David Rosenberg said Tuesday. ‘Positive gross domestic
product readings and other mildly hopeful signs are masking an ugly truth:
The US economy is in a 1930s-style Depression, Gluskin Sheff economist
David Rosenberg said Tuesday. Writing in his daily briefing to investors,
Rosenberg said the Great Depression also had its high points, with a series
of positive GDP reports and sharp stock market gains. But then as now,
those signs of recovery were unsustainable and only provided a false
sense of stability, said Rosenberg. Rosenberg calls current economic
conditions “a depression, and not just some garden-variety recession,”
and notes that any good news both during the initial 1929-33 recession and
the one that began in 2008 triggered “euphoric response.”
Op-Ed Columnist - The Third Depression - NYTimes.com Economic Policy:

Nobel Prize-winning economist Paul Krugman says the US is in the
"early stages of a third Great Depression. The Third Depression By
PAUL KRUGMAN Published: June 27, 2010 ‘Recessions are
common; depressions are rare. As far as I can tell, there were only
two eras in economic history that were widely described as
“depressions” at the time: the years of deflation and instability that
followed the Panic of 1873 and the years of mass unemployment that
followed the financial crisis of 1929-31. Neither the Long Depression
of the 19th century nor the Great Depression of the 20th was an era
of nonstop decline — on the contrary, both included periods when
the economy grew. But these episodes of improvement were never
enough to undo the damage from the initial slump, and were
followed by relapses. We are now, I fear, in the early stages of a
third depression. It will probably look more like the Long Depression
than the much more severe Great Depression. But the cost — to the
world economy and, above all, to the millions of lives blighted by the
absence of jobs — will nonetheless be immense. And this third
depression will be primarily a failure of policy. Around the world —
most recently at last weekend’s deeply discouraging G-20 meeting —
governments are obsessing about inflation when the real threat is
deflation, preaching the need for belt-tightening when the real
problem is inadequate spending. In 2008 and 2009, it seemed as if we
might have learned from history. Unlike their predecessors, who
raised interest rates in the face of financial crisis, the current leaders
of the Federal Reserve and the European Central Bank slashed rates
and moved to support credit markets. Unlike governments of the
past, which tried to balance budgets in the face of a plunging
economy, today’s governments allowed deficits to rise. And better
policies helped the world avoid complete collapse: the recession
brought on by the financial crisis arguably ended last summer. But
future historians will tell us that this wasn’t the end of the third
depression, just as the business upturn that began in 1933 wasn’t
the end of the Great Depression. After all, unemployment —
especially long-term unemployment — remains at levels that would
have been considered catastrophic not long ago, and shows no sign
of coming down rapidly. And both the United States and Europe are
well on their way toward Japan-style deflationary traps …’
Worse than expected news on both durables and new home sales. Indeed,
in this and the prior session the ‘new homeseller stocks’ rose based
on the foisted false expectation of expected-to-better as opposed to,
among other, far worse than expected results. Yet, where / when was
the worse than expected news discounted. The fact is that it wasn’t,
as fraudulent wall street with one of those typical press the button,
computerized program trade days, rallies to try to suck the suckers
back in to keep their ‘churn and earn’ rollin’. Note the typical, almost
tauntingly gleeful mainstream non-news headline, ‘US stocks pull off
a gain; Dow ends above 10,000 (at CNBC)’ … Riiiiight! … They pulled it
off … How pathetic! Democrats move to shore up faltering economic
recovery (Washington Post) [ Wow! And all this time that’s what we
thought they were doing. Now they’re gonna’ get serious … riiiiight.
Here’s some serious for you: Peter Schiff: “We’re in the Early Stages
of a Depression” The Motley Fool | Four years and the worst recession
since the Great Depression later, Schiff … : an inflationary
depression.) among other economists, (Economists Herald New Great
Depression The world is currently experiencing the modern day
equivalent of the Great Depression, according to a prominent
economist who has added his voice to scores of others now
forecasting ongoing economic doom on a scale not seen since the
1930s.) , and my position and that of demographer Dent (This is a

the latest.
Between 2010 and 2012 ).
INSIDER TRANSACTIONS (Washington Post) Stock market ends down for

second straight week (Washington Post) [Yeah! There should be no
surprise here. Such is the scenario that bear markets are made of and
Maierhofer shows the math to prove it (infra), Are You Ready For How
Bad It Will Get? Graham Summers | ‘There are numerous components
in the latest GDP number that are extremely suspect. The vast
majority of investors are going to be taken to the cleaners … Sell /
Take Profits while you still can! ]
Drudgereport: MORGAN STANLEY: Government Bond Defaults Inevitable...

Roubini: Growth to Be 'Well Below' 1% ...
New Home Sales Sink to Lowest Pace on Record...
Banks back switch to renminbi for trade; Incentives to move from
dollar and euro...
DEM JOKES: PELOSI COULD DIE BEFORE NEXT YEAR
Former Republican chairman: I'm gay...
President Bush 'incredibly supportive in his cornholin’ efforts'...
Bernanke under pressure to prop it up [yeah … with the typical b***
s***]!
Jackson Hole: Speech, Speech...
Infowars.com Poll: Fed Will Push Nation Into Greatest Depression Kurt
Nimmo | Infowars.com readers believe the monetary policies of the
Federal Reserve will push the country into another depression.
Even Tony Robbins Is Warning That An Economic Collapse Is Coming It

seems like almost everyone is warning of a coming economic collapse
these days.
Why to Expect a Bipolar Market Move Next Week [Well, I don’t know about
a diagnosis of bipolar, but ‘criminally insane’; yes, that’s wall street in a
nutshell.]
Bond Bubble, Dollar Doom - Embrace The Fear Says Fisher [ Riiiiight!
Sounds like a plan … to bail out the frauds on wall street as they sell their
‘hot potatoes’ in their typical ‘musical chair’ pre-crash charade! ] ‘…
Hussman: Dollar Collapse Coming: In his latest market commentary, top
fund manager John Hussman continues to express a bearish view, and
says that more quantitative easing by the Federal Reserve is likely to
trigger “an abrupt collapse in the foreign exchange value of the U.S.
dollar”. Hussman offers something of a primer on exchange rates, and
concludes by saying this: “The policy of quantitative easing is likely to
force a large adjustment on the U.S. dollar because the Federal Reserve is
choosing to lay a heavier hand on the Treasury bond market than would
result from economic conditions alone,” he says. “The resulting shift in
interest rates and long-term inflation prospects combine to dramatically
reduce the attractiveness of the U.S. dollar. A significant and relatively
abrupt devaluation is then required, in an amount sufficient to set up
expectations of a U.S. dollar appreciation over time.” Special Offer: People
mocked Gary Shilling when he said SELL in 2006 and 2007. But he was
right and his subscribers are richer for it. Click here for Gary Shilling’s
current investment advice. As for the market, Hussman says he continues
to see unfavorable valuations, unfavorable market action, and unfavorable
economic pressures. The Fed’s new go at quantitative easing may well limit
deflationary fears, he says, which has led him to increase exposure to
precious metals and foreign currencies. Hussman also says the U.S.
should focus on restructuring debt, and offers his take on how it should do
so …’
Dow Reclaims 10,000 as Stocks Pare Losses CNBC | Stocks opened lower
for a fifth straight day Wednesday as disappointing reports on new
home sales and durable-goods orders stoked worries about the
economic recovery.
Consumers Dropping Pay TV Services Investors.com | The number of

subscribers to cable, satellite and telecom TV services in the U.S. fell
for the first time ever in the second quarter.
Plunge in Home Sales Stokes Economy Fears Wall Street Journal | U.S.
home sales plummeted in July to a level not seen in more than a
decade, spurring fears of renewed weakness in housing prices and
the broader economy.
Boehner calls for mass firing of Obama's economic team (Washington

Post) Yeah! True enough. They should be fired (watch for fake data as
a desperate reaction to the reality the fake data’s been hidin’,
revisions to fake data which hid reality, etc., ‘cause they’re really
desperate); yet where were the same calls for paulsen, bush, et als.
The truth is, they all should be fired! Every last fraudulent one of
them! All three corrupt branches of the u.s. non-government.
Frank to hold hearing on regulation of Wall St. pay (Washington Post)

[ Oooooh! Riiiiight! More hearings … sounds like a plan! You know,
max face time, no action, great politics as usual. After all, if they were
really serious, prosecutions, jail, fines, and disgorgement for the
perps would have happened. Additionally, the so-called fin regs were
powder puffs after all the huff and puff and ignore prosecution under
already existing laws. What total fraud / b*** s***! ]
U.S. Financial System Still "Fundamentally Corrupt," Kotlikoff Says: Here's

How to Fix It ‘We have a "fundamentally corrupt financial system" and the
Dodd-Frank reform bill did nothing to change it, says Boston University
economics professor Laurence Kotlikoff. "Relatively little has changed
except there are going to be more federal regulators who are probably
going to miss major problems." At the core of the 2008 crisis was "the
production and sale of trillions of fundamentally fraudulent securities,"
Kotlikoff says, suggesting all levels of society participated in the fraud --
including homeowners. At the center of it all were financial intermediaries
(a.k.a. Wall Street) who packaged and sold "snake oil under the guise of
proprietary information" to limit or eliminate disclosure, and enabled by
corrupt rating agencies, regulators and elected officials, he says. In the
accompanying video, Kotlikoff explains how we can "make Wall Street safe
for Main Street." In short, we should transform all financial companies with
limited liability (banks, hedge funds, private equity firms and insurance
companies alike) into mutual funds, which the professor describes as "little
banks that have 100% capital requirements. " Notably, the big mutual fund
companies survived the "financial earthquake" of 2008-09 when the rest of
the financial system collapsed, Kotlikoff recalls. In late 2009, Kotlikoff and
Harvard's Niall Ferguson penned an op-ed for The FT describing a blueprint
for how to take moral hazard out of banking. Citing a speech by Bank of
England governor Mervyn King, Kotlikoff and Ferguson called for "limited
purpose banking" (LPB), that would "limit banks to their legitimate purpose
- financial intermediation and payment facilitation." Nine months later,
Kotlikoff remains convinced this "very simple reform" remains a much
better alternative than the financial reform bill hammered out in
Washington - with plenty of influence from Wall Street lobbyists. "We are
rebuilding [the system] out of straw rather than out of brick," Kotlikoff
says, suggesting his "LPB" proposal will ultimately be good for the
economy and provide a model for the rest of the world. "If we have a safe,
sound [financial] structure other countries will follow suit," he says.’
How to Get Through This Mess ‘… U.S. RECESSION NEVER ENDED; GDP
TO CONTRACT IN Q3
Hardship 401(k) withdrawals set record in second quarter: More workers
also borrowing from their accounts (Washington Post, August 22,
2010) [ Clearly an instance where ‘better late than never’ doesn’t quite
do it … ‘better now than late or never’ is a bit better as the following
see that old tune, ‘ The Big Hurt’, reaching once again number 1 on
the billboard charts. ]
Soros Bailing Out of U.S. Stock Market Robert Wenzel | Billionaire trader
and political manipulator,George Soros, is clearly not optimistic.
Celente: Stock Market Crash Before End of 2010 Gerald Celente believes
that the stock market will crash before the end of 2010 , gold will soar.
Are You Ready For How Bad It Will Get? Graham Summers | ‘There are
numerous components in the latest GDP number that are extremely
suspect. The vast majority of investors are going to be taken to the
cleaners … Sell / Take Profits while you still can!
100-Year Bonds --- Sign of Trouble?
Analyst: Dow To 5,000, Lost Decade For Stocks The Dow Jones Industrial
Average will lose about half of its value over the next couple of years
as it follows a Nikkei-like pattern of several sharp rallies in an overall
decline, according to Charles Nenner, founder and president of
Charles Nenner research.
Existing home sales plunge 27% Existing home sales fell sharply in July,
declining for a third straight month, as the effects of the expired
homebuyer tax credit continued to add turbulence to the housing
market.
Hindenburg Omen Creator Has Exited The Market As we reported first, last
week saw the second confirmation of the Hindenburg Omen, most
recently sighted for the first time on August 12. Presumably this is an
indication of putting one’s money where one’s mouth is (and away
from the market).
We’re Underperforming The Great Depression In real (inflation/deflation-

adjusted) terms, when did the US market permanently regain the high
reached in 1929? The first chart illustrates two answers to the
question. One uses the real price and the other uses the real total
return.
Top Republicans urge Obama to oust economic team Reuters | The top
Republican in the U.S. House of Representatives called on Tuesday
for President Barack Obama to fire his economic team in a campaign-
style speech meant to focus voters on the weak American economy.
Home Sales Plunge to Record Low NY Times | Sales of existing homes

plunged 27.2 percent in July, down to their lowest level since the
National Association of Realtors began keeping track over a decade
ago.
Unemployed group blasts Geithner’s handling of economy The Hill |

UCubed, a group representing unemployed and underemployed
workers, sharply criticized Treasury Secretary Timothy Geithner for
his handling of the economy.
Stocks Plunge, Double Dip Recession Fears Grow After Home Sales Report
U.S. stocks extended losses, sending the Dow Jones Industrial
Average below 10,000, and the 10-year Treasury yield fell below 2.5
percent for the first time since 2009 as a bigger-than-estimated slump
in existing home sales fueled concern the economy may relapse into
recession.

these days.
Alex Jones Exposes Google’s Plan to Dominate the Internet Infowars.com |

Google’s takeover agenda will control the world wide web and force
independent media websites, radio and TV shows out of existence for
good.
Ron Paul: Let the Housing Market Normalize! Dr. Ron Paul | There seems to
be a growing consensus in favor of abolishing Fannie and Freddie.
This is the good news.
Americans Using Their Rainy Day Savings to Live Rebel Traders | The
reality of the ‘real economy’, as measured by people, not Wall Street,
is a deteriorating economy where any source of funds is fair game to
be tapped into.
The Never Ending Recession Mr. Rosenberg believes we could see a

negative GDP print THIS quarter. And if he’s right that means analysts
are far too optimistic about the upcoming quarter.
Economic forecaster: ‘Greatest Depression’ coming Collapse of middle

class means there’s no fuel for recovery, Gerald Celente argues.
National / World:
JFK Assassination Cover-Up Blown Sky High It is a story the corporate

media, with the notable exception of one lone Fox News affiliate,
refuses to report. A former FBI agent, Don Adams, has compelling
evidence Lee Harvey Oswald did not assassinate president John F.
Kennedy.
Massive solar storm to hit Earth in 2012 with ‘force of 100m bombs’
Astronomers are predicting that a massive solar storm, much bigger
in potential than the one that caused spectacular light shows on Earth
earlier this month, is to strike our planet in 2012 with a force of 100
million hydrogen bombs.
Conclusive: Global Distribution of Rockefeller-Funded Anti-Fertility

Vaccine Coordinated by WHO Jurriaan Maessen | It is a dream long
cherished by the global elite: an anti-fertilization program with the aim
of reducing the world’s population
Republican Tea Party Organization Reports Death Threats Kurt Nimmo |

FreedomWorks is the establishment’s answer to the Libertarian Tea
Party movement.
Saudi couple hammer 24 hot nails into their maid after she complained of
heavy workload [Saudi Arabia is total b*** s***. Time for displacement of
the saudi mob family, and establishment of a meaningful nation-state! They
are an embarrassment to Muslims everywhere!] A Saudi couple tortured
their Sri Lankan maid by hammering 24 hot nails into her after she
complained of her heavy workload. Mrs Ariyawathi told a local newspaper
that her employers tortured her with the nails as punishment.
Senate To Sneak Through Internet Kill Switch Bill The Senate is attempting
to sneak through the infamous Internet kill switch cybersecurity bill by
attaching it to another piece of legislation that is almost guaranteed to
pass – the defense authorization bill – in an underhanded ploy to
avoid the difficult task of passing cybersecurity on its own.
Key Karzai Aide in Corruption Inquiry Is Linked to C.I.A. The aide to

President Hamid Karzai of Afghanistan at the center of a politically
sensitive corruption investigation is being paid by the Central
Intelligence Agency, according to Afghan and American officials.

Group (P2OG).
Inside Job? Iraqi govt ‘involved in deadly bombings to get US troops to

stay’ More than 40 people have been killed in a string of bombings
that have rocked Iraq. In Baghdad alone, over 20 bombs exploded in at
least 12 separate incidents. Today’s bombings are raising questions
the Iraqi government’s ability to deal with an ongoing insurgency.
Sabah Al-Mukhtar from the Arab Lawyers Association says the
bombings may actually be the Iraqi government’s way to get US
troops to stay.
John McCain’s Attack On Liberty Chuck Baldwin | The citizens of Arizona

can do the American people — and liberty itself — a great favor this
year by giving Senator John McCain his walking papers. [First, he’s a
fraud with a long mob-connected history. Second, he’s an
incompetent mental case in the mold of ‘bolton’ et als, but all that’s
how and why they keep this compromised a** in there.]
Former FBI Agent Reveals New Angle On Kennedy Assassination [bush,
typically, was involved up to his eyeballs, and ‘knuck’ (knucklehead
not-to-bright ford) the typical go along to get along. ]‘… Despite the
threat and possibility of a conspiracy to assassinate the president, the
FBI and Secret Service allowed Kennedy to travel to Dallas. “[They]
should have stopped the President from traveling instantly,” said
Adams. “You thought I was kidding when I said he would be killed
from a window with a high powered rifle,” a “jubilant” Milteer” told the
informant following the murder. Adams points out that Milteer was in
Dallas on the day of the assassination and has a photograph to prove
it. In the photo, Milteer stands near the presidential limousine prior to
the shooting. Adams notes this fact was not mentioned in the Warren
Commission report. Other, more well-known personages were also
photographed in Dealy Plaza on that fateful day, in particular George
Bush Senior. The future CIA director and president was photographed
standing outside the Texas Book Depository building where it was
said Oswald single-handedly shot the president from the sixth floor.
Gerald Ford appointed Bush to head-up the agency when the House
Select Committee on Assassinations was investigating CIA-FBI links
to the murders of John F. Kennedy, Martin Luther King and Robert
Kennedy. During Gerald Ford’s funeral in 2007, the elder Bush
attacked theories straying from the official version. “After a deluded
gunman assassinated President Kennedy, our nation turned to Gerald
Ford and a select handful of others to make sense of that madness,”
said Bush. “And the conspiracy theorists can say what they will, but
the Warren Commission report will always have the final definitive say
on this tragic matter. Why? Because Jerry Ford put his name on it and
Jerry Ford’s word was always good.” After Adams told the FBI he
believed it was impossible for Oswald to have fired three shots with a
bolt-action rifle in seven-and-a-half seconds while taking aim through
a scope, he was warned by his superiors not to pursue his findings.
“Don, be careful what you say and how you say it,” an agent told him.
Mr. Adams’ assertions contribute to a huge body of evidence
revealing that Kennedy was not murdered by Oswald in the fashion
described by the government…’
Finland Suspends Swine Flu Shots After Vaccine Linked With Neurological
Disorder Paul Joseph Watson | Finland’s National Institute for Health
and Welfare (THL) has suspended the use of the H1N1 vaccine over
fears that the shot is linked with narcolepsy.
U.S. Court Rules That Government Can Secretly Track You With GPS,
Privacy is For Rich People Only Steve Watson | TIME magazine
casually admits that it is now perfectly legal in nine states for the
government to attach secret satellite tracking devices to your car and
monitor you wherever you go, without a search warrant.
CNN: Opposition to Government, Bankers is Criminal Kurt Nimmo | The

sovereign citizen movement is considered a direct and dangerous
threat by the government because it rejects out of hand its authority.
Alex Jones: Government Wants to Control Your Music Infowars.com | Alex

covers the hysteria over “i-dosing” and the ultimate plan by
government to control our minds and emotions.
Megalomaniacs Push For Orwellian “Safe” City, Controlled Internet

Biometrics R&D firm Global Rainmakers Inc. recently unveiled a plan
to place iris scanners and other tracking devices in what they toted as
the “most secure” city in the world.
Study: Oil spill cleanup workers suffered chromosome damage, respiratory

issues Spanish fishermen who took part in a clean-up operation after
the Prestige oil tanker spill in 2002 have shown symptoms of
chromosomal damage and respiratory problems, a study released
Tuesday said.
4th Amendment Violating Mobile X-Ray Scanners Hit The Streets As we

warned at the beginning of the year, X-ray body scanners currently
being used and abused in airports across the world are set to hit the
streets as American Science & Engineering reveals that “more than
500 backscatter x-ray scanners mounted in vans that can be driven
past neighboring vehicles to see their contents” have been sold to
government agencies.
Pentagon Teaches Kindergarten Kids As U.S. Schools Are Militarized For
Martial Law Conditioning This represents the process of full spectrum
dominance over our children’s minds. First the government paid the
mothers not to have husbands in the home (single parent benefits)
and now the soldiers are bringing up our kids from Kindergarten age.
This is about training Americans almost from birth that’s it’s normal to
have troops involved in routine life on a day to day basis. This is total
martial law conditioning.

POLITICO: SOME DEMS THINK HOUSE IS GONE...
INTEL CEO blasts Obama, Dems; USA faces looming tech decline...
LETTERMAN TURNS: 'He'll have plenty of time for vacations after his one
term' … [ This really is so true … wobama is so total, typical b*** s*** ] ...
Economy Caught in Depression, Not Recession: Rosenberg Positive gross

domestic product readings and other mildly hopeful signs are masking an
ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff
economist David Rosenberg said Tuesday. ‘Positive gross domestic
product readings and other mildly hopeful signs are masking an ugly truth:
The US economy is in a 1930s-style Depression, Gluskin Sheff economist
David Rosenberg said Tuesday. Writing in his daily briefing to investors,
Rosenberg said the Great Depression also had its high points, with a series
of positive GDP reports and sharp stock market gains. But then as now,
those signs of recovery were unsustainable and only provided a false
sense of stability, said Rosenberg. Rosenberg calls current economic
conditions “a depression, and not just some garden-variety recession,”
and notes that any good news both during the initial 1929-33 recession and
the one that began in 2008 triggered “euphoric response.”
Op-Ed Columnist - The Third Depression - NYTimes.com Economic Policy:

Nobel Prize-winning economist Paul Krugman says the US is in the
"early stages of a third Great Depression. The Third Depression By
PAUL KRUGMAN Published: June 27, 2010 ‘Recessions are
common; depressions are rare. As far as I can tell, there were only
two eras in economic history that were widely described as
“depressions” at the time: the years of deflation and instability that
followed the Panic of 1873 and the years of mass unemployment that
followed the financial crisis of 1929-31. Neither the Long Depression
of the 19th century nor the Great Depression of the 20th was an era
of nonstop decline — on the contrary, both included periods when
the economy grew. But these episodes of improvement were never
enough to undo the damage from the initial slump, and were
followed by relapses. We are now, I fear, in the early stages of a
third depression. It will probably look more like the Long Depression
than the much more severe Great Depression. But the cost — to the
world economy and, above all, to the millions of lives blighted by the
absence of jobs — will nonetheless be immense. And this third
depression will be primarily a failure of policy. Around the world —
most recently at last weekend’s deeply discouraging G-20 meeting —
governments are obsessing about inflation when the real threat is
deflation, preaching the need for belt-tightening when the real
problem is inadequate spending. In 2008 and 2009, it seemed as if we
might have learned from history. Unlike their predecessors, who
raised interest rates in the face of financial crisis, the current leaders
of the Federal Reserve and the European Central Bank slashed rates
and moved to support credit markets. Unlike governments of the
past, which tried to balance budgets in the face of a plunging
economy, today’s governments allowed deficits to rise. And better
policies helped the world avoid complete collapse: the recession
brought on by the financial crisis arguably ended last summer. But
future historians will tell us that this wasn’t the end of the third
depression, just as the business upturn that began in 1933 wasn’t
the end of the Great Depression. After all, unemployment —
especially long-term unemployment — remains at levels that would
have been considered catastrophic not long ago, and shows no sign
of coming down rapidly. And both the United States and Europe are
well on their way toward Japan-style deflationary traps …’
back in to keep their ‘churn and earn’ rollin’. Note the typical, almost
tauntingly gleeful mainstream non-news headline, ‘US stocks pull off
a gain; Dow ends above 10,000 (at CNBC)’ … Riiiiight! … They pulled it
off … How pathetic! Democrats move to shore up faltering economic
recovery (Washington Post) [ Wow! And all this time that’s what we
thought they were doing. Now they’re gonna’ get serious … riiiiight.
Here’s some serious for you: Peter Schiff: “We’re in the Early Stages
since the Great Depression later, Schiff … : an inflationary
depression.) among other economists, (Economists Herald New Great
Depression The world is currently experiencing the modern day
equivalent of the Great Depression, according to a prominent
economist who has added his voice to scores of others now
forecasting ongoing economic doom on a scale not seen since the
1930s.) , and my position and that of demographer Dent (This is a

the latest.


Banks back switch to renminbi for trade; Incentives to move from
dollar and euro...
DEM JOKES: PELOSI COULD DIE BEFORE NEXT YEAR
Former Republican chairman: I'm gay...
President Bush 'incredibly supportive in his cornholin’ efforts'...
Bernanke under pressure to prop it up [yeah … with the typical b***
s***]!
Jackson Hole: Speech, Speech...

these days.
nutshell.]
so …’
economic recovery.



Too far right (Washington Post) [ Too far right, too far left, too republican,
too democrat … Come on! Wake up! The problem is simply too
pervasively corrupt and these are distinctions without a significant
difference. For Obama, some chances ahead (Washington Post)
[ Come on! Wake up! There are no chances ahead for wobama’s
already failed presidency! He knows it, the people know it, and even
his most ardent blind supporters know it. One too many b*** s***
stories and broken (campaign) promises. Delivering a speech, albeit
teleprompted, is a far cry from delivering, which reality most have
awaken to. He seems to be incapable of even one original thought
even as the wobamas seem to take umbrage as they are dissed for
self-created lack of approbation ($500 sneakers, spain trip, fiddling
while the nation burns, etc.). What next? The race card? Even as his
(in)justice department had decided to ignore civil rights violations by
blacks and focus only on whites? No! wobama’s failed presidency is
as done as an over-cooked hard-boiled egg. Empty words just ain’t
enough! ] New Orleans visit, Iraq speech offer president opportunities
to help end a frustrating summer.]
I-Dosing: Another Excuse for Government Control Over Our Lives Kurt
Nimmo | Government claims i-dosing induces the same kind of mind-
altering effects as marijuana, cocaine, peyote, and opium.

NASA helping in rescue of miners (Washington Post) [I truly have no

problem with and even (re)commend NASA and terrestrial
undertakings such as this, including infrastructure and budget
allocations accordingly, so long as they defacto, if not explicitly by
declaration, own up to their frauds and complicit illegal militarization
of space with the cia / pentagon lunatics. God knows america is sorely
in need of infrastructure renewal / repair.]
Launch of secret US space ship masks even more secret launch of new
weapon
The Militarization of Outer Space: The Pentagon’s “Space Warriors” Global

Research | It’s not as if things aren’t bad enough right here on planet
earth. Now the Defense Department wants to up the stakes with new,
destabilizing weapons systems that will transform low- and high-earth
orbit into another “battlespace.”
buzz aldrin wants to colonize Mars … Riiiiight buzzed! Better check with
DePalma to see if he already has the footage in the can since you
won’t be able to use the moon footage for the new boondoggle
video ...
OBAMA SPEECH OUTLINES PLANS FOR RETURNING DEFACTO

BANKRUPT U.S. TO SPACE – OOOOOH! SOUNDS LIKE A PLAN …
FOR INNER SPACE (IMAGINATION).
NASA's New Asteroid Mission Could Save the Planet Space.com -

Tariq Malik - CAPE CANAVERAL, Fla. - President Barack Obama set a
lofty next goal this week for Americans in space: Visiting an asteroid
by 2025. Obama's asteroid goal: tougher, riskier than moon The
Associated Press Obama calls for NASA to focus on trips to Mars and
beyond Computerworld
New Boondoggle promised to save NASA boondoggle defacto

bankrupt budget piece of pie. And don’t forget, Bruce Willis and Ben
Affleck, et als, have already done this so it’s not as if they’re starting
from ‘ground zero’, so to speak; and Brian DePalma already has
‘Mission to Mars’ in the can, but beware say the producers of ‘Species
II’ since Eve, the cloned daughter of Sill, might want to mate with
astronaut Paddy Ross who has returned from Mars as a space alien
host body.
First fake moonwalker blasts Obama's space plan msnbc.com - Bill

Ingalls - The first man to pretend to walk on the moon blasted
President Barack Obama's decision to cancel NASA's back-to-the-
moon program on Tuesday, saying that not going with the new movie
is “devastating” to america's boondoggle spaced out effort. Fake
dutch 'moon rock' revealed a treasured piece at the dutch national
museum - a supposed moon rock from the first manned lunar landing
- is nothing more than petrified wood, ...bbc news bbc news | europe |
fake dutch 'moon rock' revealed prized moon rock a fake - a piece of
moon rock given to an overseas politician by the united states is
actually a lump of petrified wood, museum authorities revealed
yesterday. ... 'Moon rock' in dutch museum is just petrified wood aug
27, 2009 ... Fake moon rock at dutch national museum. Rijksmuseum /
ap. This rock, supposedly brought back from the moon by american
astronauts, ... http://www.albertpeia.com/moonfraud.htm
In reality it is just a piece of petrified wood ... Another piece of

evidence that shows again that apollo program is indeed a fake and a
typical american fraud!
http://www.albertpeia.com/UFOetryWeNeverWentToTheMoonPNTV.wmv
Review of John Vaillant's "The Tiger: A True Story of Vengeance and

Survival" Montgomery [Truly my kind of hero!](Washington Post
dyn/content/article/2010/08/27/AR2010082702288.html?
hpid=features1&hpv=national Buy this book. I will! ) [Truly my kind of
hero! (As a matter of disclosure, I like all cats, big and small!) I do believe
an important point to be gleened here is how totally primative the Chinese
are which makes this current economic scenario we’re experiencing
courtesy Clinton, and particularly the bushes, ie., (captain cia ambassador
poppy) who themselves have a long documented familial history of
primative behaviors (ie., war profiteering, war crimes, etc.; the bushes are
such can’t do anything well vegetables), especially disheartening. I mean,
after all, isn’t the communist Chinese business model, simply put, probably
the most primitive one this world has ever known; viz., slave labor. I say,
boycott china products; impose tariffs, sanctions, restrictions on the
products of the primitive communist Chinese mongrels. ]
Stepped-up efforts fail to stem drug money (Washington Post) [ Come on!
Wake up! That’s american, yes american big business. The stuff that the
war in Afghanistan is made of; viz., ie., heroin, etc.. ]Stashing cash in spare
tires, engine transmissions and truckloads of baby diapers, couriers for
Mexican drug cartels are moving tens of billions of dollars in profits south
across the border each year, a river of dirty money that has overwhelmed
U.S. and Mexican customs agents.
Carlyle-owned toy supplier files for bankruptcy (Washington Post) [ What is

a bush-involved company of paper (leveraged instruments, etc.)
pushers doing with any company doing business in the u.s. or
elsewhere for that matter. The bushes are vegetables who really can’t
do anything well, except maybe, war, war crimes, fraud, illegal drug
deals (Iran contra, etc., http://albertpeia.com/CIAAgentAffidavit1.jpg ) ]
The Bush-Carlyle Connection
There’s no business like war business
By William Bowles
05/11/03: (Information Clearing House) There are so many connections

between the Bushes, the ‘Defence’ establishment, the global trade in arms,
that the mind boggles. That it barely gets a mention in the mainstream
media (except of course, to simply ‘report’ it) is a scandal of the grandest
proportions. But it only goes to show the power of big business and the
political class they have installed in both the US and the UK..

typically, was involved up to his eyeballs, and ‘knuck’ (knucklehead not-to-bright
ford) the typical go along to get along. ]‘… Despite the threat and possibility of a
conspiracy to assassinate the president, the FBI and Secret Service allowed
Kennedy to travel to Dallas. “[They] should have stopped the President from
traveling instantly,” said Adams.
bush/Carlyle cont’d … (after all, John Major is employed by the Carlyle
Group and BAE Systems, the major arms supplier to the UK, is part-owned
by Carlyle). Not only the connections beggar belief but the sheer hypocrisy
of the Bush government should put it in a new category in the Guinness
Book of Records! As you’ll see from just of a few of the links to information
on Carlyle below, their tentacles extend to many of the armed conflicts
going on in the world. There’s no business like war business!
I’ve presented them in no particular order, the common denominator is the

Bush family.
"Arms Buildup Enriches Firm Staffed by Big Guns"
Defense: Ex-president and other elites are behind weapon-boosting Carlyle

Group.
By Mark Fineman, Times Staff Writer January 10 2002
Source: http://www.truthout.org/docs_01/01.11F.Arms.Carlyle.htm
"The Best Enemies Money Can Buy"
From Hitler To Saddam Hussein to Osama bin Laden - Insider Connections

and the Bush Family's Partnership with Killers of Americans
Brown Brothers, Harriman - BNL- and the Carlyle Group By Michael C.

Ruppert
Source: http://www.fromthewilderness.com/free/ww3/10_09_01_carlyle.html
"Legal Group Blasts Papa Shrub on Bin Laden Link"
Bush Sr. Could Profit From War by Geoffrey Gray October 11th, 2001,
Village Voice
Source: http://www.villagevoice.com/issues/0141/gray.php
"BUSH WATCH…BUSH MONEY"
Source: http://www.bushwatch.com/bushmoney.htm
"CHRONOLOGY: The Bushes And The Carlyle Group" Bushnews.com

Source: http://www.bushnews.com/bushcarlyle.htm
"The Bush-Carlyle Group Archive" Buzzflash
A link to a number of links on the Carlyle Group
Source: http://www.buzzflash.com/perspectives/2002/Bush-Carlyle.html
Carlyle's way Making a mint inside "the iron triangle" of defense,

government, and industry. By Dan Briody January 8, 2002 Red Herring
Source: http://www.redherring.com/vc/2002/0111/947.html
"The Carlyle Group" Spectrazine
Alfred Mendes looks at a single US investment corporation and asks some

pertinent questions about democracy, terrorism and power.
Source: http://www.spectrezine.org/global/carlyle.htm
"Crony Reform" Slate
How the access capitalists at the Carlyle Group became real businessmen.
By Daniel Gross Tuesday, April 15, 2003
Source: http://slate.msn.com/id/2081572/
"The Big Guns: The Carlyle Group and Defense Lobbying"

OpenSecrets.org
Source: http://www.opensecrets.org/alerts/v6/alertv6_52.asp
"The Carlyle Group; Elder Bush in Big G.O.P. Cast Toiling for Top Equity
Firm" by Leslie Wayne Monday, March 5, 2001, New York Times
Source: http://www.commondreams.org/headlines01/0305-03.htm
"The Pakistan-India conflict is being funded and fomented by the same

faces that brought you the war on terrorism"
A particularly evil manifestation of the arms business is the one in the on-
going low intensity war between in India and Pakistan and the Carlyle
Group’s role in it
Source: http://www.propagandamatrix.com/pakistan_india.html
"US arms group heads for Lisbon: The Carlyle Group, integrated by the
Bush and bin Laden families awarded a billion dollar contract to "rebuild
Iraq", 6 April 2003
Source: http://globalresearch.ca/articles/NEW304A.html
"Bush's Favorite Terrorist Buddy & Carlyle Group (Bush, Sr. Etc) Profits
Increasing From Afghan War"
Source: http://www.apfn.org/apfn/WTC_profits.htm
"Former President Bush Works for International Investment Firm With Ties
To Saudi Arabia" - Company Had Bin Laden Family Connections Judicial
Watch
Source: http://www.judicialwatch.org/1685.shtml
"Meet the Carlyle Group"
How will President George W. Bush personally make million$, if not billion$
from the War on Terror? The easy way. He’ll inherit it. Former World
Leaders and Washington Insiders Making Billions in the War on Terrorism
Source: http://www.angelfire.com/indie/pearly/htmls/bush-carlyle.html
"Carlyle group scandal"
Source: http://linkthing.com/screed/carlyle_group_cluster.html
WIKIPEDIA http://en.wikipedia.org/wiki/Carlyle_Group ‘The Carlyle Group

is a global private equity investment firm, based in Washington, D.C., with
more than $84.5 billion of equity capital under management, diversified
over 64 different funds as of March 31, 2009.[1] The firm operates four fund
families, focusing on leveraged buyouts, growth capital, real estate and
leveraged finance investments. The firm employs more than 890
employees, including 495 investment professionals in 20 countries with
several offices in the Americas, Europe, Asia and Australia; its portfolio
companies employ more than 415,000 people worldwide. Carlyle has over
1300 investors in 71 countries. Carlyle was ranked in 2007 as the largest
private equity firm in the world, according to a ranking called the PEI 50
based on capital under management.[2] However, the firm moved down to
second largest as of May 2010.[3] …’
New-home sales hit a 40-year low | Your take (Washington Post) [ A 40 yr
low? … At least it’s a record, say the frauds on wall street and how much
worse can it be? Much worse, says reality! Economy Caught in Depression,
Not Recession: Rosenberg / Nobel Prize-winning economist Paul
Krugman says the US is in the "early stages of a third Great Depression. ]
Fed policy is foggy as economic picture clouds (Washington Post) [ Wow!

Look to ‘no recession helicopter ben for guidance’? You’re hurting my ears
and eyes, again. Meanwhile, everyone’s waiting for buh, buh, buh, benny
and his jets to say no depression. At least we’ll be able to add certainty,
albeit the opposite of what he says. But the fact is already that, ‘This is a
commission and sell into.’ ] With housing market retreating,
unemployment lingering and Fed officials in open disagreement, markets
look to Bernanke for guidance.
Economy Caught in Depression, Not Recession: Rosenberg
Op-Ed Columnist - The Third Depression - NYT Nobel Prize-winning

economist Paul Krugman says the US is in the "early stages of a
third Great Depression. The Third Depression By PAUL KRUGMAN
Peia: ‘This is a global depression. This is a secular bear market in a

global depression. The past up move was a manipulated bull
(s***) cycle in a secular bear market. This has been a typically
manipulated bubble as has preceded the prior crashes with great
regularity that the wall street frauds and insiders commission and
sell into.’
back in to keep their ‘churn and earn’ rollin’, and the ‘pass the hot
potatoe / musical chairs confidence game’ goin’. Note the typical,
almost tauntingly gleeful mainstream non-news headline, ‘US stocks
pull off a gain; Dow ends above 10,000 (at CNBC)’ … Riiiiight! … They
pulled it off … How pathetic! Peter Schiff: “We’re in the Early Stages
since the Great Depression later, Schiff: an inflationary depression.)
among other economists, (Economists Herald New Great Depression
The world is currently experiencing the modern day equivalent of the
economic doom on a scale not seen since the 1930s.) , and my
position and that of demographer Dent (This is a global depression.
This is a secular bear market in a global depression. The past up
move was a manipulated bull (s***) cycle in a secular bear market.
This has been a typically manipulated bubble as has preceded the
prior crashes with great regularity that the wall street frauds and
insiders commission and sell into. This is a typical wall street churn
and earn pass the hot potato scam / fraud as in prior crashes’. This
national decline, economic and otherwise, will not end until justice is
served and the wall street frauds et als are criminally prosecuted,
jailed, fined, and disgorgement imposed.

the latest.



these days.
nutshell.]
so …’
economic recovery.

Democrats move to shore up faltering economic recovery (Washington

Post) [ Wow! And all this time that’s what we thought they were doing.
Now they’re gonna’ get serious … riiiiight. Here’s some serious for
you: Economic indicators reflect weak recovery (Washington Post)
[Recovery? I say they’re dreamin’! So does Schiff, (Peter Schiff:
“We’re in the Early Stages of a Depression” The Motley Fool | Four
years and the worst recession since the Great Depression later, Schiff
stands alone again with a bleaker diagnosis for the economy: an
inflationary depression.) among other economists, (Economists
Herald New Great Depression The world is currently experiencing the
modern day equivalent of the Great Depression, according to a
prominent economist who has added his voice to scores of others
now forecasting ongoing economic doom on a scale not seen since
prosecuted, jailed, fined, and disgorgement imposed.

the latest.


these days.

good.
be tapped into.


Second Hindenburg Omen Confirmation In As Many Days, Third H.O. Event
In One Week Longs may be forgiven if they are sweating their long
positions over the weekend: not only did we just have a second, and
far more solid Hindenburg Omen confirmation today.
Second Hindenburg Omen Confirmation In As Many Days, Third H.O. Event In

One Week
Jim Rogers: If You Want Your Family To Be Silly Rich In The Future, Then
Leave America And Move To Asia Now As you may know, Jim Rogers
moved to Singapore in 2007, though he maintains a residence in the U.S. as
well.


U.S. Financial System Still "Fundamentally Corrupt," Kotlikoff Says: Here's

How to Fix It ‘We have a "fundamentally corrupt financial system" and the
Dodd-Frank reform bill did nothing to change it, says Boston University
economics professor Laurence Kotlikoff. "Relatively little has changed
except there are going to be more federal regulators who are probably
going to miss major problems." At the core of the 2008 crisis was "the
production and sale of trillions of fundamentally fraudulent securities,"
Kotlikoff says, suggesting all levels of society participated in the fraud --
including homeowners. At the center of it all were financial intermediaries
(a.k.a. Wall Street) who packaged and sold "snake oil under the guise of
proprietary information" to limit or eliminate disclosure, and enabled by
corrupt rating agencies, regulators and elected officials, he says. In the
accompanying video, Kotlikoff explains how we can "make Wall Street safe
for Main Street." In short, we should transform all financial companies with
limited liability (banks, hedge funds, private equity firms and insurance
companies alike) into mutual funds, which the professor describes as "little
banks that have 100% capital requirements. " Notably, the big mutual fund
companies survived the "financial earthquake" of 2008-09 when the rest of
the financial system collapsed, Kotlikoff recalls. In late 2009, Kotlikoff and
Harvard's Niall Ferguson penned an op-ed for The FT describing a blueprint
for how to take moral hazard out of banking. Citing a speech by Bank of
England governor Mervyn King, Kotlikoff and Ferguson called for "limited
purpose banking" (LPB), that would "limit banks to their legitimate purpose
- financial intermediation and payment facilitation." Nine months later,
Kotlikoff remains convinced this "very simple reform" remains a much
better alternative than the financial reform bill hammered out in
Washington - with plenty of influence from Wall Street lobbyists. "We are
rebuilding [the system] out of straw rather than out of brick," Kotlikoff
says, suggesting his "LPB" proposal will ultimately be good for the
economy and provide a model for the rest of the world. "If we have a safe,
sound [financial] structure other countries will follow suit," he says.’
Home sales drop to lowest level in 15 years [ Get those foreclosure sales
rollin’ say the frauds on wall street who will spin same to their market-
frothing delight! ]
Stocks Crushed AGAIN: Here's What You Need

To Know From The Business Insider All-
around ugly.
How to Get Through This Mess ‘… U.S. RECESSION NEVER ENDED; GDP
TO CONTRACT IN Q3

Analyst: Dow To 5,000, Lost Decade For Stocks The Dow Jones Industrial
Average will lose about half of its value over the next couple of years
as it follows a Nikkei-like pattern of several sharp rallies in an overall
decline, according to Charles Nenner, founder and president of
Charles Nenner research.
Existing home sales plunge 27% Existing home sales fell sharply in July,
declining for a third straight month, as the effects of the expired
homebuyer tax credit continued to add turbulence to the housing
market.
Hindenburg Omen Creator Has Exited The Market As we reported first, last
week saw the second confirmation of the Hindenburg Omen, most
recently sighted for the first time on August 12. Presumably this is an
indication of putting one’s money where one’s mouth is (and away
from the market).
We’re Underperforming The Great Depression In real (inflation/deflation-

adjusted) terms, when did the US market permanently regain the high
reached in 1929? The first chart illustrates two answers to the
question. One uses the real price and the other uses the real total
return.
Top Republicans urge Obama to oust economic team Reuters | The top
Republican in the U.S. House of Representatives called on Tuesday
for President Barack Obama to fire his economic team in a campaign-
style speech meant to focus voters on the weak American economy.
Home Sales Plunge to Record Low NY Times | Sales of existing homes

plunged 27.2 percent in July, down to their lowest level since the
National Association of Realtors began keeping track over a decade
ago.
Unemployed group blasts Geithner’s handling of economy The Hill |

UCubed, a group representing unemployed and underemployed
workers, sharply criticized Treasury Secretary Timothy Geithner for
his handling of the economy.
Stocks Plunge, Double Dip Recession Fears Grow After Home Sales Report
U.S. stocks extended losses, sending the Dow Jones Industrial
Average below 10,000, and the 10-year Treasury yield fell below 2.5
percent for the first time since 2009 as a bigger-than-estimated slump
in existing home sales fueled concern the economy may relapse into
recession.

these days.

good.
be tapped into.

National / World:

typically, was involved up to his eyeballs, and ‘knuck’ (knucklehead
not-to-bright ford) the typical go along to get along. ]‘… Despite the
threat and possibility of a conspiracy to assassinate the president, the
FBI and Secret Service allowed Kennedy to travel to Dallas. “[They]
should have stopped the President from traveling instantly,” said
Adams. “You thought I was kidding when I said he would be killed
from a window with a high powered rifle,” a “jubilant” Milteer” told the
informant following the murder. Adams points out that Milteer was in
Dallas on the day of the assassination and has a photograph to prove
it. In the photo, Milteer stands near the presidential limousine prior to
the shooting. Adams notes this fact was not mentioned in the Warren
Commission report. Other, more well-known personages were also
photographed in Dealy Plaza on that fateful day, in particular George
Bush Senior. The future CIA director and president was photographed
standing outside the Texas Book Depository building where it was
said Oswald single-handedly shot the president from the sixth floor.
Gerald Ford appointed Bush to head-up the agency when the House
Select Committee on Assassinations was investigating CIA-FBI links
to the murders of John F. Kennedy, Martin Luther King and Robert
Kennedy. During Gerald Ford’s funeral in 2007, the elder Bush
attacked theories straying from the official version. “After a deluded
gunman assassinated President Kennedy, our nation turned to Gerald
Ford and a select handful of others to make sense of that madness,”
said Bush. “And the conspiracy theorists can say what they will, but
the Warren Commission report will always have the final definitive say
on this tragic matter. Why? Because Jerry Ford put his name on it and
Jerry Ford’s word was always good.” After Adams told the FBI he
believed it was impossible for Oswald to have fired three shots with a
bolt-action rifle in seven-and-a-half seconds while taking aim through
a scope, he was warned by his superiors not to pursue his findings.
“Don, be careful what you say and how you say it,” an agent told him.
Mr. Adams’ assertions contribute to a huge body of evidence
revealing that Kennedy was not murdered by Oswald in the fashion
described by the government…’
Finland Suspends Swine Flu Shots After Vaccine Linked With Neurological
Disorder Paul Joseph Watson | Finland’s National Institute for Health
and Welfare (THL) has suspended the use of the H1N1 vaccine over
fears that the shot is linked with narcolepsy.
U.S. Court Rules That Government Can Secretly Track You With GPS,
Privacy is For Rich People Only Steve Watson | TIME magazine
casually admits that it is now perfectly legal in nine states for the
government to attach secret satellite tracking devices to your car and
monitor you wherever you go, without a search warrant.
CNN: Opposition to Government, Bankers is Criminal Kurt Nimmo | The

sovereign citizen movement is considered a direct and dangerous
threat by the government because it rejects out of hand its authority.
Alex Jones: Government Wants to Control Your Music Infowars.com | Alex

covers the hysteria over “i-dosing” and the ultimate plan by
government to control our minds and emotions.
Megalomaniacs Push For Orwellian “Safe” City, Controlled Internet

Biometrics R&D firm Global Rainmakers Inc. recently unveiled a plan
to place iris scanners and other tracking devices in what they toted as
the “most secure” city in the world.
Study: Oil spill cleanup workers suffered chromosome damage, respiratory

issues Spanish fishermen who took part in a clean-up operation after
the Prestige oil tanker spill in 2002 have shown symptoms of
chromosomal damage and respiratory problems, a study released
Tuesday said.
4th Amendment Violating Mobile X-Ray Scanners Hit The Streets As we

warned at the beginning of the year, X-ray body scanners currently
being used and abused in airports across the world are set to hit the
streets as American Science & Engineering reveals that “more than
500 backscatter x-ray scanners mounted in vans that can be driven
past neighboring vehicles to see their contents” have been sold to
government agencies.
Pentagon Teaches Kindergarten Kids As U.S. Schools Are Militarized For

Martial Law Conditioning This represents the process of full spectrum
dominance over our children’s minds. First the government paid the
mothers not to have husbands in the home (single parent benefits)
and now the soldiers are bringing up our kids from Kindergarten age.
This is about training Americans almost from birth that’s it’s normal to
have troops involved in routine life on a day to day basis. This is total
martial law conditioning.

POLITICO: SOME DEMS THINK HOUSE IS GONE...
INTEL CEO blasts Obama, Dems; USA faces looming tech decline...
LETTERMAN TURNS: 'He'll have plenty of time for vacations after his one
term' … [ This really is so true … wobama is so total, typical b*** s*** ] ...
Google’s Plans to Take Over The Internet Exposed! Google’s agreement

with Verizon to speed certain Internet content to users opens the door
to the complete sterilization of the world wide web as a force for
political change. Under Google’s takeover plan, the Internet will
closely resemble cable TV, independent voices will be silenced and
the entire Internet will be bought up by transnational media giants.
‘Pre-Crime’ Reaches Number 1 Google Trend Spot Matt Ryan | Steve

Watson’s incredible article about the use of pre-crime technology was
picked up by large news sites such as the Drudge Report and others.
Pre-Crime Technology To Be Used In Washington D.C. Steve Watson |

Computers predict what crime will be committed where, by who and
when.
Drudgereport: GALLUP GENDER GAP: Obama's Approval Among Men Hits

All-Time Low of 39%...
LOBOTOMY JOE BIDEN: 'We're moving in right direction'… Right lobotomy
joe, anything you say! ...
Worries about recovery deepen...
'Hindenburg Omen' creator exits stock market...
Economy in 'Depression, Not Recession'...
Dow Faces 'Bouncy Ride to 5,000'...
Typical Slow Summer -- or Something Darker?
Drop in Home Sales Renews Pricing Fears...
Investors Scatter to Safety...
Unemployed group blasts Geithner's handling of economy...
BOEHNER URGES OBAMA TO FIRE...
'Government as community organizer' has failed...
LA UNVEILS $578 MILLION SCHOOL
More Expensive Than China's Olympic Stadium!
California Delays $2.9 Billion School, County Payments Amid Budget
Impasse...
'Beat Whitey Night': Iowa racial attacks at state fair... POLICE
REPORTS...
Gasoline prices hit 8-month low (Washington Post) [ Strange days indeed.
There was a time not long ago that the same news would engender a
‘glass-half-full’ spin for a fraudulent wall street rallying point. At the
same time, higher oil prices one of those reasons for selling into the
bubble. Today, higher oil prices day to day provide a ‘glass-half-full’
spin for a fraudulent wall street rallying point that drives the oils
(stocks) higher. Yes, that’s how bad the economy really is. (Not a
reference to ‘Strange Days’ the interesting film from that impressive
oscar-winning giant (amazon) of a woman, Kathryn Bigelow, which
sported a cast that included Tom Sizemore which of itself meant
strange indeed.) ].
AIG pays back $4 billion of bailout debt (Washington Post) [ Ah, yes. How
endearing. Just goes to show that the hearts of american business are
in the right places. So touching … I’m sure I’m not alone in shrugging
with a sense that given america’s chosen intractable downward path
such as this matters little or none! ]
Obama targets IT contracts (Washington Post) [ And what goals are being
met with the protracted mid-east wars with costs exceeding a trillion
other than defacto bankruptcy of the nation and anti-american
sentiment, not to mention the diversion from the multitude of
america’s domestic problems. It seems to me that IT would be among
the last of items warranting scrutiny (360 tons of $100’s flown into Iraq
would without scrutiny go right into the treasury, etc.) , particularly
since tech, though over-rated, is probably america’s last strength
owing to a significant head start and a built- in language bias, though
quickly becoming mere assemblers / distributors of foreign-made
(components) at best.] The White House unveils plans to review 26
government information-technology projects worth a total of $30
billion as part of an effort to trim back or cancel contracts that aren't
meeting goals.
NATIONAL / WORLD
For Obama, some chances ahead (Washington Post) [ Come on! Wake up!
There are no chances ahead for wobama’s already failed presidency!
He knows it, the people know it, and even his most ardent blind
supporters know it. One too many b*** s*** stories and broken
(campaign) promises. Delivering a speech, albeit teleprompted, is a far
cry from delivering, which reality most have awaken to. He seems to
be incapable of even one original thought even as the wobamas seem
to take umbrage as they are dissed for self-created lack of
approbation ($500 sneakers, spain trip, fiddling while the nation
burns, etc.). What next? The race card? Even as his (in)justice
department had decided to ignore civil rights violations by blacks and
focus only on whites? No! wobama’s failed presidency is as done as
an over-cooked hard-boiled egg. Empty words just ain’t enough! ] New
Orleans visit, Iraq speech offer president opportunities to help end a
frustrating summer.]
Drudgereport: WASHPOST TAKES ON THE SPOOKS: Hidden world,

growing beyond control...
854,000 people have top-secret security clearance...
You really have to laud The Washington Post for this investigative
brilliance which whether people appreciate it or not, requires great
corporate and personal courage; even more so inasmuch as this is
their backyard, so to speak. Clearly, this illuminates the boondoggles
which amazingly are coming at a time when america will not be able to
handle ‘bare necessities’ much less the self-perpetuating, need-
creating, bureaucracies which I’ve previously likened to a perverse
version of ‘Field of Dreams’ where if you will commit taxpayer dollars,
they’ll find / create a war, conflict, new war, etc., to spend it on.
NSA Has Gotten So Big, Area Around It Has 112 Acres Of Parking
Spaces In yet another terrifying expose, The Washington Post
continues to lift the veil on just how massive the US government’s
spying operation has become.
The following youtube video is well worth the look and explains how
and why the frauds on wall street have gotten away with their
devastating fraud thus far. The frauds on wall street et als should be
criminally prosecuted, jailed, fined, and disgorgement imposed. (
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... CIVIL
RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER
CASE... ex-Justice official quit over the handling of a voter
intimidation case against the New Black Panther Party accused his
former employer of instructing attorneys in the civil rights division to
ignore cases that involve black defendants and white victims US v.
AZ... Cases against Wall Street lag despite Holder’s vows to target
financial fraud Obama broke promises ):
‘THE OBAMA DECEPTION’ http://www.youtube.com/watch?

v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext
_from=PL&index=0&playnext=1. [ The Obama Deception Number 1 on
U.S. Google Trends ]
‘The Obama Deception’ Censored ‘The Obama Deception’ has been

censored In light of this development, I provide an archived site version
which appears to be complete (but will be compared with earlier version
and replaced with same if incomplete)
http://albertpeia.com/obamadeceptionhighqualityversion.flv
Then there is the well researched, produced, and informative ‘ESOTERIC

AGENDA’ which explains how we’ve gotten to this forlorn point:
http://video.google.com/videoplay?docid=-7052400717834950257#
For the Same Reason I’ve Included Here a Web Site Archived FLV Version
of Esoteric Agenda http://albertpeia.com/esotericagenda.flv
Who’s Barry Soetoro, wobama? Get your very own BARRY SOETORO T-
Shirt and ask the question, "Where is the Birth Certificate?". The
REAL name of President Barack Obama is BARRY SOETORO so get a
t-shirt with a picture of him on the front and the question, "Where is
the Birth Certificate?". http://infowars-
shop.stores.yahoo.net/basot.html Obama’s Comeback Strategy:
Appearing On “The View” Now we know how the President will turn
his flagging political fortunes around… [More b*** s***!].
Is Obama a Marxist? He Works for the Bankers Glenn Beck, the Fox News
talking heads, and no shortage of Tea Party activists like to
characterize Barry Obama as a Marxist.
Poll: Waning support for Obama on wars usa today | Support for Obama’s
wars fell to 36%, down from 48% in a February poll.
President Obama’s Real Name “Barry Soetoro” Tops Google Trends Yet
another search term announced during the Alex Jones Show, “Barry
Soetoro” has topped Google Trends’ hot searches, and that means a
boost to exposing important keys to President Obama’s true history.
The #1 search trend corresponds with a visit to Austin, Texas today
from President Barack Obama, a.k.a. Barry Soetoro.
Barry Soetoro AKA Barack Obama’s Political Dynasty Crashes And Burns
While Barry Soetoro’s family lavish themselves at a luxury Spanish
resort amidst deepening economic turmoil, back home Obama’s
political dynasty crashes and burns as his approval ratings plunge to
a record low of 41 per cent with less than a few months to go before
the October midterm elections.
The Fraud Of Barry Soetoro (a.k.a. Barack Hussein Obama) (Feb. 24 ...
February 11, 2009
’Dear Senators and Congressmen:
Thank you for taking the time to review the documentation relevant
to the Constitutional legitimacy of the presidency Barack Obama.
There have been various problems with the vetting of Mr. Obama
throughout the campaign and the present. I’d like to take the
opportunity to highlight the most pertinent and alarming issues that
have been clearly revealed. I’m sure you will agree that this
information must be further investigated promptly before any
damage is done to the United States and its citizens beyond the
Constitutional compromises that currently exist. Most interesting,
though, is the fact that Mr. Obama has not simply ordered the
original vault copy of his birth certificate to be sealed and chosen to
retain three (3) law firms to defend the various cases spending a
reported $800,000 (of whose money?). If Mr. Obama has nothing to
hide, then why fight the more than 42 cases in federal courts alone
(according to Justia) and similar number in state courts of which the
merits are well-founded and substantiated through factual evidence,
state and federal statutes, and international laws? Main issue is that
the state of HI, according to statue 338 allows Foreign born
children of Hawaiian residents to obtain Hawaiian birth certificates
and obtain them based on a statement of one relative only. There is
plenty of evidence of Mr. Obama being born in Kenya and obtaining
his Hawaiian birth certificate based on a statement of his
grandparent only, who simply didn’t want to deal with immigration
and not based on any records from any hospitals. Extensive
searches in the State of Hawaii showed no birthing records for his
mother [Stanley] Ann Dunham in any hospital in Hawaii. … I
request all of this information to be forwarded to the Senate Armed
Services Committee, Senate Finance Committee, Senate Judicial
Committee, Mr. Steven Whitlock, director of the whistle blower office
of the IRS, ICE, State Department, and FBI for further investigation.
Respectfully submitted,
Dr. Orly Taitz, Esq.’
Did Google Block “Barry Soetoro” Search Term? Screenshots obtained by

a Prison Planet reader suggest that Google may have moved to de-list
“Barry Soetoro” as a popular search term shortly after it rose to the top of
the Google Trends charts after yesterday’s effort by radio talk show host
Alex Jones to focus attention on Barack Obama’s real name.
Bombshell: Barack Obama conclusively outed as CIA creation Wayne
Madsen | Investigative journalist Wayne Madsen has discovered CIA
files that document the agency’s connections to the lives of Barack
Obama and his mother, father, grandmother, and stepfather.
Google wants in on the social networking game Sonja Ryst [ I’ll bet they do
… and as a cia/nsa front, if you’re a sound thinker and arrange a meet
with a newfound friend thereon, be prepared for almost anything; ie.,
guns with silencers, garroted from behind, knife attacks, sudden
acceleration of cars toward you when crossing crosswalks, etc. ]This
Tweet -- "Google to launch Facebook competitor very soon" --
unleashed a sense that the online world as we know it was about to
fundamentally change.
Google Yanks “Kill The Web” Article That Warned Of Internet Takeover
Having at first appeared as normal, our earlier article about Google’s
plan to kill the web has been completely de-listed from Google News.
This is completely unprecedented and underscores how keen Google
is to prevent people from finding out that it is a CIA-NSA front that is
preparing to completely end the Internet as we know it with the
Verizon net-neutrality killing deal.
Google Plans To Kill Web In Internet Takeover Agenda The net-neutrality

ending deal with Verizon is just the beginning of Google’s plans to kill
the open and free Internet as part of their takeover agenda to
completely control the world wide web and force independent media
websites, radio and TV shows out of existence for good.
Obama’s pledge to close down Guantanamo is ‘not even close’ Barack

Obama’s pledge to shut down Guantanamo Bay will not be honoured
until at least a year after the President’s self-imposed deadline – and
may not be completed in his first administration.
Constitution “Silly Stuff,” Says Illinois Congressman Democratic

Congressman Phil Hare, who caused outrage earlier this year when he
told constituents who asked him about the legality of the health care
bill, “I don’t worry about the constitution,” has sparked fresh
consternation after he was caught on camera in an Illinois hotel
labeling the founding document of America “silly stuff”.



when.
JFK Assassination Cover-Up Blown Sky High It is a story the corporate

media, with the notable exception of one lone Fox News affiliate,
refuses to report. A former FBI agent, Don Adams, has compelling
evidence Lee Harvey Oswald did not assassinate president John F.
Kennedy.
Senate To Sneak Through Internet Kill Switch Bill The Senate is attempting
to sneak through the infamous Internet kill switch cybersecurity bill by
attaching it to another piece of legislation that is almost guaranteed to
pass – the defense authorization bill – in an underhanded ploy to
avoid the difficult task of passing cybersecurity on its own.
Key Karzai Aide in Corruption Inquiry Is Linked to C.I.A. The aide to

President Hamid Karzai of Afghanistan at the center of a politically
sensitive corruption investigation is being paid by the Central
Intelligence Agency, according to Afghan and American officials.

Group (P2OG).

troops to stay.
“Lindsay Lohan Poisoned” Sent to the Top of Google Trends Kurt Nimmo |
Once again, Alex Jones has pushed a crucial search term to the top of
Google Trends.
Lindsay Lohan Poisoned: Get the Word Out About BPA and Other Soft Kill
Weapons Kurt Nimmo | Grab the search term “Lindsay Lohan
Poisoned” and push it up to the top of Google’s search trends chart.
Lindsay Lohan Poisoned, Along with 300 Million Other Americans.
Infowars.com | Alex highlights how SSRI prozac drugs are turning
people into psychopaths and leading to a massive increase in
suicides and other reckless behavior.


Monday in the Markets: MOJO Extremes The decline in yields is overdone,

gold is overbought, and crude oil and the euro are oversold. The Dow is not
oversold.The yield on the 10-Year US Treasury tested 2.531 on Friday
versus my quarterly risky level at 2.495. Gold tested $1239.5 last week and
today’s risky level is $1241.7. For Crude oil this week’s pivot is $73.59 with
my annual pivot at $77.05. The euro is below its 50-day simple moving
average at 1.2739 this morning. For the Dow today’s value level is 9,983
with the 50-day simple moving average at 10,303, and weekly and annual
pivots at 10.358 and 10,379. 10-Year Note – (2.612) My annual pivot is 2.813
with a weekly pivot at 2.574 and daily risky level at 2.507. My annual value
level is 2.999 with quarterly and semiannual risky levels at 2.495 and 2.249.
Note that the decline in yield is extremely overdone [charts] …
Portions of the Gulf are So Toxic that Dolphins, Fish, Crabs, Stingrays and
Other Animals are “Trying to Crawl Out of the Water” Danny Ross, a
commercial fisherman from Biloxi… said he has watched horseshoe
crabs trying to crawl out of the water, and other marine life like
stingrays and flounder trying to escape the water as well. He believes
this is because the water is hypoxic.
Karzai: Private contractors ‘looting and stealing,’ working with terrorists

Afghan President Hamid Karzai on Sunday defended his decision to
ban private security contractors from operating in public in
Afghanistan, saying many of the organizations tasked with providing
security are engaging in terrorist activities, working with “Mafia-like”
organizations and “looting and stealing from the Afghan people.”
Housing Fades as a Means to Build Wealth, Analysts Say Many real estate
experts now believe that home ownership will never again yield
rewards like those enjoyed in the second half of the 20th century.
Why “Fair Play” In A Central Bank Interventionist World Is A Doomed
Strategy Today’s special report by Faros Trading summarizes the
pathetic, uber-interventionist world we live in.
Hussman: Bernanke’s Quantitative Easing Is About To Trigger A Collapse

In The US Dollar In his latest weekly letter, John Hussman warns of an
imminent and disorderly collapse of the US dollar, courtesy of Ben
Bernanke’s move towards more quantitative easing.
Washington looks tantalizing to New York (Washington Post) [ I’m

surprised to see this ‘old news’ here since it’s widely known that the
wall street frauds, goldman et als, have garnered near vampire
legendary status by way of their infamous blood (taxpayers) / treasury
draining ways. Tantalized? I’d say consumed. ]
Federal contractors team up with tech giants (Washington Post) [ Clearly

the end of an innovative tech sector as blood-sucking, treasury
draining corporate welfare artists show them how to get something for
nothing but self-perpetuating, self-created needs that aren’t really
needed! ] For traditional government contractors, the appeal of
working with commercially successful companies such as Google or
Apple is clear.
Drudgereport: Philly requiring bloggers to pay $300 for 'license'… [ There

are a plethora of reasons to leave philly and this is just another ] ...
WHAT BUDGET CRISES? LA UNVEILS $578 MILLION SCHOOL
[ Come on! In California it’s always about the private contracts with
public money from public office holding slugs ]
Gold bullion stolen from Florida treasure museum [ I personally
believe that beyond the ‘gold-plate’, Fort Knox has already been
looted! ] ...
Wikileaks’ Assange: Pentagon may be behind rape claims Agence France-
Presse | [ This story smacks of american modus operandi as
alternative to outright murder / assassination. Enemy of the State
Lew Rockwell | It’s been clear for some time that the Pentagon would
love to put a bullet in Julian Assange’s brain. ] Wikileaks founder
Julian Assange said in an interview published on Sunday that he
believes the Pentagon could be behind a rape accusation against him
that was later dropped by Swedish prosecutors.
Gulf Oil May Not Degrade for Decades Washington’s Blog | Scientists have
found an underwater oil plume that is more than 22 miles long, more
than a mile wide and 650 feet deep.
Yet another Soros tentacle exposed Jim Wallis, the man behind the so-
called “religious left” – a left wing evangelical activist who worked to
get evangelical support for Obama — has been exposed as another
stooge of George Soros.
Der Spiegel: US middle class vanishing According to an article appearing

in the German newspaper, Der Spiegel, the negative consequences of
the global financial crisis include a widened social class rift and the
elimination of the middle class in the US.
Swedish Prosecutors Drop Rape Charges Against Wikileaks Founder Now

according to the AP, the rape charges against Wikileaks founder
Julian Assange have been withdrawn.
U.S. examines private sector's role in affordable housing (Washington
Post) [ I’m sorry to say that in pondering the so-called policy-makers
in Washington or in the corporate boardrooms that I’m hard-pressed
to dismiss from my mind’s eye a picture of a bunch of scarecrows
fumbling around while singing refrains such as ‘if they only had a
brain’ cirque the land of the wizard of oz. The reality is that some
basic grasp of economics, finance, business would go a long way in a
more positive sense for the nation. Then there’s those infamous
internment / concentration / ‘affordable housing’ camps that’s been
filtering through the filters, so to speak.] The Obama administration is
grappling over how much to force private lenders to pay for
apartments and homes for the poor as it presses ahead with a major
overhaul of the government's housing policy, officials said.
$60M project to resume in D.C. (Washington Post) [Well, at least they’re not
fema concentration / internment camps; naah, they’re for the hoi
polloi. Now luxury apartments for the Washington criminal class;
that’s another story. Time to break out the bubbly ‘cause happy days
are here again.
H.R. 645 and The FEMA Concentration Camps The Federal or Union
side of the conflict had its many concentration camps as well. ... and
walk out your front door and see a FEMA concentration camp.
www.infowars.com/h-r-645-and-the-fema-concentration-camps
Alex Jones Presents Infowars.com to Fight the New World Order And
how we burned in the camps later, thinking ... county is a designated
home for a "concentration ... relocated to "secret locations" (FEMA
camps).
www.infowars.com/cc_archive.htm
New World Order FEMA Camps Uploaded by doomdaily
www.youtube.com
FEMA Concentration and Internment Camps A good over look of
what FEMA is all about. Enslavement and Concentration Camps. It is
not about saving people that is an illusion.
www.freedomfiles.org/war/fema.htm
FEMA Concentration CampsU.S. CONCENTRATION CAMPS FEMA
AND THE REX 84 PROGRAM. There are over 600 prison camps in the
United States, all fully operational and ready to receive ...
www.flyingsnail.com/Dahbud/femaconcentrationcamps.html
U.S. Concentration Camps, page 1 A reported "FEMA camp
masquerading as a water treatment plant" here in Texas was (ta-daa)
a water treatment plant. A reported "FEMA concentration camp ...
www.abovetopsecret.com/pages/camps.html
AMERICAN CONCENTRATION CAMPS FEMA CONCENTRATION
CAMPS: Locations and Executive Orders ..... Ft. Drum - two
compounds: Rex 84 detention camp and FEMA detention facility. ...
www.apfn.org/APFN/camps.htm ]
CBO Offers tax cuts assessment (Washington Post) [ One might be inclined
to quip, well, you can’t give what you don’t have; but, we all know
that’s not true in washington these days and they have the red ink to
prove it. Drudgereport: CBO: DEFICIT 9.1% OF GDP... DEVELOPING...
‘(P)recarious fiscal situation by 2020? I’d call that wishful thinking!
The 2020 part. How ‘bout now!]
Jobless benefit claims jump to nine-month high (Washington Post) [Ooooh!

Sounds like a plan! Or, the wrong plan! The one they’re using, that is.
Or, no plan, like Afghanistan!] Drudgereport: NEW LOW FOR O:
GALLUP DAILY SHOWS OBAMA 41% APPROVE, 52% DIS...
NEW JOBLESS CLAIMS RISE TO 500,000...
Highest level in 9 months...
CBO: DEFICIT 9.1% OF GDP... DEVELOPING...
Homeowners Expect Home Values to Fall More...
Stock market ends down for second straight week (Washington Post)
[Yeah! There should be no surprise here. Such is the scenario that
bear markets are made of and Maierhofer shows the math to prove it
(infra), Are You Ready For How Bad It Will Get? Graham Summers |
‘There are numerous components in the latest GDP number that are
extremely suspect. The vast majority of investors are going to be
taken to the cleaners …]
Chiacgo's ShoreBank fails, is bought by investors Chicago Tribune -

Chicago-based ShoreBank, which for more than three decades made
loans to South and West siders who might not have gotten financing
elsewhere to buy homes, apartment buildings and start businesses,
failed Friday. Regulators shut big Chicago-based bank BusinessWeek
Regulators shut down big Chicago bank, 7 others The Associated
Press ‘… The FDIC also seized seven other banks Friday, bringing to
118 the number of U.S. bank failures this year amid the recession and
mounting loan defaults …The FDIC also took over Community
National Bank at Bartow, in Bartow, Fla.; Independent National Bank
of Ocala, Fla.; Imperial Savings and Loan Association of Martinsville,
Va.; and four California banks: Butte Community Bank, based in
Chico; Pacific State Bank, based in Stockton; Los Padres Bank, in
Solvang; and Sonoma Valley Bank, in Sonoma. …’ Reuters -
Bloomberg - Los Angeles Times (blog) - Richmond Times Dispatch
World Indices / Week ended August 20, 2010 Yahoo Finance
BEAR MARKET MATH - JULY LOWS IN DANGER Simon Maierhofer, On

Friday August 20, 2010, 4:53 pm EDT ‘
1+1=2
2+2=4
equation?
Fundamental Weakness + Technical Sell Signals + Overpriced Stocks = Lower
Stock Prices. This calculation also seems to be simple and accurate. Let's look at
some equations that don't make sense.
1+1=3 or Better Earnings = Higher Stock Prices Earnings season is over.
Most companies beat earnings but issued cautious forecasts. This is particularly
true of the tech (NYSEArca: XLK - News) and financial sectors (NYSEArca: XLF
- News). By large, profits are still driven by cost-cutting, not organic growth.
Retail sales, which make up about one third of the economy, continued to fall
after the second quarter ended. Additionally, the expectation that taxes will go up
might have moved some companies to pull some of next year's income into this
year. This can't be good for Q3 and Q4 profits. As the chart below shows,
positive earnings reports are not bullish for stocks, especially if future guidance is
weak.[chart]
2+2=5 or Weaker than Expected Economy = Rising Stock Prices On July 30,
the Bureau of Economic Analysis (BEA) lowered the previous quarter's Gross
Domestic Product (GD) growth from an estimated 2.7% to 2.4%. But it didn't stop
there. The real GDP for all three previous years was revised as well. It was
lowered by 0.2% for 2007, it was lowered by 0.6% for 2008, and it was lowered
by 0.4% for 2009. In percentage terms, the real GDP for 2007 was revised down
from 2.5% growth to 2.3%. The 2008 decrease was lowered from 1.9% to 2.8%
and 2009 growth was revised up from a 0.1% to a 0.2% increase. In essence, the
BEA proved that the recession was (or is) much deeper than perceived and the
alleged recovery much weaker than previously reported. This comes as no
surprise, as the key sector of the financial debacle - real estate (NYSEArca: IYR -
News) - remains in a funk. The U.S. Census Bureau reported that the number of
vacant properties, including foreclosures, residences for sale, and vacation
homes, reached 18.9 million. Fannie Mae and Freddie Mac continue to lose
money. Has anyone ever wondered how banks (NYSEArca: KBE - News) can
make money on the same kind of loans that pushed Fannie and Freddie to the
brink of ruin? Since bad real estate loans triggered the post 2007 economic
meltdown, how can the economy recover without real estate leading the way?
3+3=7 or Positive Analyst Estimates = Higher Stock Prices A recent

Associated Press article observed that 'analysts only seem to hit the mark with
their estimates in the strongest economic times (2003 - 2006).' Why? 'The
problem is that analysts get most of their information from the companies they
cover. Corporate managers have every incentive to stay positive for as long as
they can.' Is that true; as true as 1+1=2? On April 26, the day the S&P (SNP:
^GSPC) topped at 1,219, the Dow (DJI: ^DJI) at 11,258, the Nasdaq (Nasdaq:
ÎXIC) at 2,535, Bloomberg reported the following: 'U.S. stocks cheapest since
1990 on analyst estimates.' Contrary to analyst estimates, the ETF Profit
Strategy Newsletter stated that 'the potential exists that Monday's high marked a
significant top.' Since April, the broad market (NYSEArca: TWM - News) dropped
as much as 17%. In March 2009, with the Dow below 7000 and the S&P below
700, analysts lowered their earnings forecasts from $113 in April 2008 to $40. On
March 2nd, the ETF Profit Strategy Newsletter sent out a Trend Change Alert
and recommended to buy long and leveraged long ETFs such as the Ultra
Financial (NYSEArca: UYG - News) and Ultra S&P 500 ProShares (NYSEArca:
SSO - News). If you care to know, analysts estimate that earnings for the S&P
500 will exceed their 2006 all-time high, in 2011. Based on that assumption,
stocks are cheap. How about that for flawed math?
4+4=9 or Technical Sell Signals = Higher Stock Prices The 200-day moving
average (MA) is one of the best-known technical indicators, as it provides
delineation between technically healthy and sick stocks. On May 20, the S&P
closed below the 200-day MA for the first time since late 2007. Every attempt to
rally and stay above it has since failed miserably. On July 2, the 50-day MA for
the S&P dropped below its 200-day MA for the first time since late 2007. The
same holds true for mid caps (NYSEArca: MDY - News), small caps (NYSEArca:
IWM - News) and nearly all individual sector indexes. For good reason, this is
called a Death Cross. Over the past ten years, the death cross has been
accurate 75% of the time, with a 19.72% average return on six winning trades
and 6.95% average return on two losing trades. In addition to the Death Cross,
there are two head and shoulders patterns, one in the making for over 10 years,
and the other has the breadth suggestive of a major meltdown (see September
ETF Profit Strategy Newsletter).
5+5=11 or Overvalued Stocks = Higher Prices As explained above, based on

overly optimistic earnings estimates, analysts believe that stocks are cheap.
Rather than basing a future outlook on estimates, it makes sense to use facts as
a foundation for any outlook. Why add an extra variable to what's already an
unpredictable market? Ask Yale Professor Robert Shiller, who's done extensive
research on the subject of valuations, and he'll tell you stocks are historically
overvalued based on the current P/E ratio. Compare today's P/E ratio with the
P/E ratio seen at major market bottoms, and you'll see that stocks are overvalued
by more than 50%. Another gauge that doesn't lie is dividend yields. A
company's dividends are a direct reflection of cash flow and financial health. The
current yield is 2.65% for the Dow and 2.05% for the S&P. Even value funds like
the iShares Russell 1000 Value (NYSEArca: IWD - News) yield only a measly
2.08%. Dividends are close to their all-time low set in 1999 (we know what
happened then). This means that companies are cash strapped or overvalued.
Looking at a long-term chart of dividend yields plotted against stock prices shows
clearly that markets don't bottom until dividends skyrocket. Just as ice doesn't
thaw unless the temperature moves above 32 degrees, the economy won't thaw
and show signs of life unless P/E ratios drop to, and dividend yields rise to, levels
seen at major market tops. The ETF Profit Strategy Newsletter includes a
detailed analysis of four valuation metrics, along with short-term target ranges for
stocks and the ultimate market bottom. Based on simple math and common
sense, the July lows are certainly in danger. But it doesn't stop there.’
DOES HISTORY REPEAT, RHYME OR JUST HAVE COINCIDENCES?

Lounsbury: ‘… Has anything of economic utility resulted? I have not found
it. And counter to the effect of the dot.com collapse, the credit bubble
collapse may not have stripped out some of the speculative income
excesses. Wall Street bonuses are back to pre-crisis levels and there has
been no "claw-back" of ill-gotten gains from the pirates who seized the
economic ship. In fact, the pirates are still in command of the ship and are
still under full sail. Yo ho ho and a bottle of rum! From my first Treasury
report:
… the problem was that our systems, especially in

finance and health care, are too heavily focused
on pay for transactions rather than pay for
outcomes. I didn’t have the presence of mind to
bring instant gratification into the discussion, but
that would have certainly made my thought
process clearer.
I don't think this created any waves, but I will continue to wail in the
wilderness about how compensation formulas contribute to and compound
the structural problems in our financial system. So, back to the earnings
chart that started this discussion. In view of what has been discussed here
I believe we will find that history, in this instance, will at least rhyme, if not
repeat exactly. Structural economic problems are sufficiently similar for the
two eras that I expect we will see some form of recurrence of events 5 and
6 [Depression] …’
Hindenburg Omen Confirmation #1 Today we got our first Hindenburg
Omen confirmation. The number of new highs was 136, and new lows
was at 69 (per the traditional WSJ source).
Greek crisis refuses to go away The European Commission has approved

the next €9bn (£7.4bn) tranche of loans for Greece but the underlying
economy continues to deteriorate as Greek banks suffer a record loss
of deposits and output contracts at a quickening pace.
We Killed The Goose That Laid The Golden Egg For middle class
Americans, the new global economy has provided mountains of cheap
products made in China, India and dozens of other nations, but it has
also killed the goose that laid the golden egg.
Grim future for young workers in ‘pensioner ghettos’ Telegraph | Parts of

Britain could become retirement ghettos within a generation with
three retired people for every four in work, a report warns.
Is Our Money Based on Debt? Robert Murphy | The first thing to realize is
that the Fed can control the size of the monetary base, but it can’t
directly control its composition.
Obama Lied About Stimulus Dollars Aiding Local Project A local project
that President Barack Obama cited during a visit Wednesday to
Columbus as an example of how the federal stimulus package has
worked isn’t actually being funded with stimulus dollars.
Black Swans Need Not Apply (6 Reasons Why the Economy is Going
Down) Louis James | My New York adventures are signs of an
approaching gold mania, not a present one. But I believe more firmly
than ever that it’s coming.
DISMANTLING BULLISH ARGUMENTS Simon Maierhofer …

Bull Market Argument #1 - Stocks are Cheap Even though the economy is in
the worst shape since the Great Depression, economists at large believe that
stocks (NYSEArca: IVV - News) are cheap … We've previously analyzed the folly
of relying on projected earnings forecasts and therefore, will only pose two more
facts as food for thought before moving onto the next argument. Even if earnings
are positive the market can decline, as we've seen with the 9% and 17% declines
in January and May. Most of the earnings growth has been fueled by cost-
cutting, not organic growth. What does that tell us about the sustainability of
growth?
Bull Market Argument #2 - Cash on the Sidelines Cash on the sideline is
viewed as bullish because, theoretically, it can be used to buy stocks and drive
up prices. Some distinguish between corporate cash and retail cash on the
sidelines. Many forget that for every dollar in cash, there is a debt that has to be
repaid. According to the Federal Reserve, nonfinancial firms' debt totals $7.2
trillion, the highest level ever. As far as retail investors go, the current debt-
income ratio is at 126%. The pre-bubble average was around 70%. To get back
to the pre-bubble norm, about $6 trillion worth of debt would have to be
eliminated. Retail money in money market funds is currently around the same
level as it was in 2006/2007. Is that bullish?
Debunking the Bond Myth No doubt there's been a migration from investment
dollars out of stocks and into bonds and gold… Bonds - especially corporate high
yield bonds - could soon assume the role real estate had in 2006. Many thought
that real estate (NYSEArca: IYR - News) will always go up. As it turns out, real
estate prices can move in both directions, as can bond prices.
A Closer Look at Gold What about gold? … The previous cash level low was
recorded in August of 2007. We know what happened then. Rather than focusing
on the sideline cash, perhaps we should focus on the trillions of dollars still in the
market. More selling means lower prices.
'Stocks are Cheap' vs. Realistic Valuations Using projected earnings to
determine the markets real value is like counting chickens that have yet to hatch.
Things change, and as studies have shown, analysts and economist are usually
the last to discern that change. Market forecasting based on solid facts is tricky
enough, but basing forecasts on thin assumptions usually translates into financial
suicide… Stock market tops when P/E ratios are high, dividend yields are low
and mutual fund cash reserves are low. Over the past year, we have seen P/E
ratios at an all-time high, dividend yields close to their 1999 low, and mutual fund
cash levels at an all-time low. In addition, we have also seen investor optimism
soar to levels reminiscent of 2000 and 2007…
Schwarzenegger Orders 150,000 Government Workers to Take Time Off

Without Pay Bloomberg | Schwarzenegger directed state workers to
take three unpaid days off each month to save cash.
Weekly Jobless Claims Post Surprise Jump, Hit 500,000 Reuters | New U.S.
claims for unemployment benefits unexpectedly climbed to a nine-
month high last week, yet another setback to the frail economic
recovery.
Western Economies Face Hyperinflation: Gold Bull The decline of the

Western economic model will bring about hyperinflation and decades
of painful readjustment, Egon von Greyerz, founder of gold
investment intermediary Goldswitzerland.com told CNBC Thursday.
US Prepares For Gold Standard To understand this objective it helps to go

back to a very important moment in our monetary past…
5 Trillion More Dollars To Fix Fannie Mae And Freddie Mac??? Fannie Mae
and Freddie Mac have become gigantic financial black holes that the
U.S. government endlessly pours massive quantities of money into.
Drudgereport: NEW LOW FOR O: GALLUP DAILY SHOWS OBAMA 41%

APPROVE, 52% DIS...
'Allahu Akbar!' Iran test fires new missile...
'Al-Qaida prepares for Israel-Iran war'...
US Assures Israel Nuclear Iran Isn't Imminent...
Israel tells UN it will stop new Gaza aid flotilla...
Lebanon refuses to bow to warning...
CHICAGOLAND: ShoreBank Closed by FDIC...
...strong ties to Obama administration
USA DEBT: $13,310,379,000,000.00
$44,000 PER CITIZEN...
$60M project to resume in D.C. (Washington Post) [Well, at least they’re not
fema concentration / internment camps; naah, they’re for the hoi
polloi. Now luxury apartments for the Washington criminal class;
that’s another story. Time to break out the bubbly ‘cause happy days
are here again.
H.R. 645 and The FEMA Concentration Camps The Federal or Union
side of the conflict had its many concentration camps as well. ... and
walk out your front door and see a FEMA concentration camp.
www.infowars.com/h-r-645-and-the-fema-concentration-camps
Alex Jones Presents Infowars.com to Fight the New World Order And
how we burned in the camps later, thinking ... county is a designated
home for a "concentration ... relocated to "secret locations" (FEMA
camps).
www.infowars.com/cc_archive.htm
New World Order FEMA Camps Uploaded by doomdaily
www.youtube.com
FEMA Concentration and Internment Camps A good over look of
what FEMA is all about. Enslavement and Concentration Camps. It is
not about saving people that is an illusion.
www.freedomfiles.org/war/fema.htm
FEMA Concentration CampsU.S. CONCENTRATION CAMPS FEMA
AND THE REX 84 PROGRAM. There are over 600 prison camps in the
United States, all fully operational and ready to receive ...
www.flyingsnail.com/Dahbud/femaconcentrationcamps.html
U.S. Concentration Camps, page 1 A reported "FEMA camp
masquerading as a water treatment plant" here in Texas was (ta-daa)
a water treatment plant. A reported "FEMA concentration camp ...
www.abovetopsecret.com/pages/camps.html
AMERICAN CONCENTRATION CAMPS FEMA CONCENTRATION
CAMPS: Locations and Executive Orders ..... Ft. Drum - two
compounds: Rex 84 detention camp and FEMA detention facility. ...
www.apfn.org/APFN/camps.htm ]
CBO Offers tax cuts assessment (Washington Post) [ One might be inclined
to quip, well, you can’t give what you don’t have; but, we all know
that’s not true in washington these days and they have the red ink to
prove it. Drudgereport: CBO: DEFICIT 9.1% OF GDP... DEVELOPING...
‘(P)recarious fiscal situation by 2020? I’d call that wishful thinking!
The 2020 part. How ‘bout now!]
Jobless benefit claims jump to nine-month high (Washington Post) [Ooooh!

Sounds like a plan! Or, the wrong plan! The one they’re using, that is.
Or, no plan, like Afghanistan!] Drudgereport: NEW LOW FOR O:
GALLUP DAILY SHOWS OBAMA 41% APPROVE, 52% DIS...
Privatizing Virginia liquor stores makes sense (Washington Post) [Wow! I’m
totally shocked. Having spent enough time in virginia with a part-time
office in proximity to washington to discern the corrupt state of affairs
of same dominated by what I refer to as government mob
(predominantly cia, related, etc.) (my direct sampling of corrupt states
of jersey the worst, new york, california, connecticut – 5 for 5) but I
had no idea that the state was as backward as it appeared in having
state-run liquor stores. How totally preposterous! ‘The revenuers are
the brewers’ … just kidding!] Seventy-seven years after the repeal of
Prohibition, you'd think we regard the sale of liquor to consenting
adults no differently than the sale of any other good.
Warren sits down with lobbyists (Washington Post) [Talk about appearance
of if not outright impropriety. Just what do these lobbyists do for their
money. Eke out more fraud protection … for the perps? Forget them! ]
Elizabeth Warren, a top candidate to lead the new Bureau of
Consumer Financial Protection, met quietly with some of her sharpest
critics: big bank lobbyists.
Federal Reserve's shift in policy doesn't change its basic outlook

(Washington Post) / And what outlook is that? The no-recession
initially touted by bernanke or ‘envy of all the world’ touted by senile
greenspun? How ‘bout reality:
No Exit, Stage Left or Right Peter shiff ‘… Those who fear a double dip
recession are justified in their concerns, but they are also missing the
big picture. The 2008 recession never ended. It was merely interrupted
by trillions of dollars of stimulus that purchased GDP “growth” with
borrowed money. But as the bills come due, GDP should now contract
…

not seen since the 1930s.
Fed Leads America “To The Brink Of Collapse” When even the New York
Times and CNN are admitting that the United States faces not only a
double-dip recession but potentially a new great depression, any
alarm bells that have not been rung should now be sounding loudly.
10 Signs The U.S. is Becoming a Third World Country Activist Post | Key
economic indicators point to a situation potentially worse than the
Great Depression.
“Surprisingly” Bad Economic News Bob Livingston | Have you noticed how
often the elitist “economists” in government, academia and the media
are surprised by bad economic news?
Deceptive Economic Statistics: While the economists lied the US economy

died Paul Craig Roberts | The bought-and-paid-for-economists got all
the media forums for a decade. While they lied, the US economy died.
Fed Official Admits the Fed Starts Boom/Bust Cycles There are all kinds of
things awry with this article…
Bulls Scatter ... Again ‘At the risk of sounding like a broken record, we
wanted to once again highlight the lack of conviction among investors and
advisors in the current market environment. Following the July rally,
bullish sentiment based on the Investors Intelligence weekly survey
jumped to its highest level since May. Then last week, the S&P 500 dropped
more than 3% and the bulls scattered. In this week's survey, bullish
sentiment declined 12% for its largest weekly decline since the flash
crash…’
Know Your Indicators: Hindenburg Omen ‘…Below we outline the five

criteria (taken from Zero Hedge) that need to be satisfied in order for the
indicator to be triggered. They are:
1. That the daily number of NYSE new 52-Week Highs and the daily
number of new 52-Week Lows must both be greater than 2.2% of total
NYSE issues traded that day.
2. That the smaller of these numbers is greater than or equal to 69
(68.772 is 2.2% of 3126). This is not a rule but more like a checksum.
This condition is a function of the 2.2% of the total issues.
3. That the NYSE 10-Week moving average is rising.
4. That the McClellan Oscillator is negative on that same day.
5. That new 52-Week Highs cannot be more than twice the new 52-Week
Lows (however it is fine for new 52-Week Lows to be more than
double new 52-Week Highs). This condition is absolutely mandatory…’
Another Round of POMO: Dave's Daily ‘…Thursday we'll get another round
of Uncle Sugar's special blend via more POMO (Permanent Open Market
Operations). This private label brew will go directly to the Primary Dealers
(dba: Da Boyz) who will use it to trade as before…’
More Fuel For a Bigger Decline Simon Maierhofer, On Tuesday August 17,
2010, 4:18 pm EDT A French proverb states that a fault denied is committed
twice. Denial, as blissful as it is for the time being, does not serve as protection
against the inevitable.A perfect example of denial is the May 6 flash crash.
Neither Wall Street, the financial media, nor investors wanted to see the danger
of such a meltdown beforehand. After it happened, they were in denial about the
cause.
Denial is Bliss
The simple truth is that the market was ripe for a major correction. A few weeks
before the flash crash, the ETF Profit Strategy Newsletter noted the extremely
low CBOE Equity Put/Call Ratio and warned: 'It seems that only a minority of
equity positions are equipped with a put safety net. Once prices do fall and
investors do get afraid of incurring losses, the only option is to sell. Selling,
results in more selling. This negative feedback loop usually results in rapidly
falling prices.' As it turns out, there was no clumsy-fingered trader at fault for the
decline that reduced the Dow (DJI: ^DJI) by more than 1,000 points in one day. If
it had been a simple error, stocks wouldn't have fallen to new lows after the flash
crash. If it had been a simple error, the S&P (SNP: ^GSPC) and Nasdaq
(Nasdaq: ÎXIC) wouldn't still be trading below the flash crash close.
The Reality of Denial
But, that's the power of denial. Since the April 26 highs, the S&P has been
moving from lower highs to lower lows. On July 1, the S&P had arrived at 1,011.
The ensuing rally lifted the markets by nearly 10%, but failed to push the S&P
and Nasdaq above the July 21 highs. The July 21 highs failed to move above the
May 12 highs. The May 12 highs were significantly short of the April 26 highs.
Despite the obvious downtrend, investors get as excited about dead end
bounces as ever. This is not a bullish omen. In fact, according to the ETF Profit
Strategy Newsletter's technical analysis, the steepest leg of the decline is still
ahead. Before we look at more technical details, let's browse through some
fundamental factors that reflect the current state of denial:
Don't Worry About Bank Failures
111 banks were added to the FDIC's failed bank list thus far in 2010. At the same
time last year, only 76 banks had been shut down. According to an FDIC press
release, Metro Bank of Dade County had total assets of $442.3 million and total
deposits of $391.3 million. Assets outweigh liabilities by $51 million. That's good,
but apparently not accurate. According to the FDIC's press release, closing Metro
Bank will cost the FDIC $67.6 million. Why? Because an accounting trick allows
banks to artificially inflate their assets. The accounting trick allowed this small
bank to overstate its assets by about 25%. Other banks on the FDIC list
overstated their assets by more than 50%. Imagine the size of the problem,
considering that the four biggest banks (NYSEArca: KBE - News) of the country
have about $7.5 trillion in combined assets. We should also point out that none of
those losses technically affect earnings, at least not yet (for a detailed analysis
refer to the June issue of the ETF Profit Strategy Newsletter).
Don't Worry About Falling Real Estate
The National Association of Home Builders reported that its monthly reading of
builder's sentiment about the housing market sank to 14, the lowest level since
March 2009. Unlike other economic indicators, this index is taken from builders
that have their finger on the pulse of Main Street and is forward looking. Despite
the rally in equities (NYSEArca: VTI - News) and real estate (NYSEArca: IYR -
News), homebuilders (NYSEArca: XHB - News) never really saw light at the end
of the tunnel.
Don't Worry About Foreclosures
According to RealtyTrac, more than 1 million American households are likely to

lose their homes to foreclosure this year. This is about 10 times as high as during
an average year. 25% of the U.S. household sector has a sub-600 FICO score.
Yet, Fannie Mae is offering financing to first-time buyers who only have a $1,000
down-payment. Nearly $150 billion have been spent to keep the doors of Fannie,
Freddie and company open. Does it make sense to artificially extend the life of a
patient destined to die? In the case of Fannie, politicians seem to think that
lending more money and ultimately creating more toxic assets will solve the
problems. Even a third grader understands the irony of that concept. Denial is
alive and well.
Don't Worry About Bankrupt States
States are in trouble. The bigger the state, the bigger the trouble it seems.
California has a $1.8 trillion economy. If CA was a country, its economy would be
the seventh biggest in the world, bigger than Russia. But, CA has no money.
CNN reports that as many as 200,000 state workers in CA could see their pay
scale slashed to minimum wage, if orders from the governor's office are followed.
You don't need to be one of the 200,000 to know that is bad. To go from state
salary to minimum wage is a huge drop.
Don't Worry About Falling Prices
Look around and you see a general downtrend develop: U.S. stocks (NYSEArca:
IWB - News), international stocks (NYSEArca: EFA - News) and emerging
market stocks (NYSEArca: EEM - News). The same applies to commodities
(NYSEArca: DBC - News), real estate prices (NYSEArca: RWR - News) and
consumer goods. The above-mentioned 'don't worries' all contribute to the
deflationary spiral (see image below for a visual). Unemployment remains high
because businesses have no pricing power. This leads to lower income, default
foreclosures, and ultimately even higher unemployment. Even Bernanke knows,
there is no easy fix to a deflationary cycle. Once engrained, it feeds on itself.
[chart]
Don't Worry About Death Crosses
A death cross is one of the most powerful technical indicators. It occurs when the
shorter simple moving average (SMA) crosses below the longer SMA. Over the
last few weeks we saw literally dozens of such death crosses. Most notable was
the S&P, Dow Jones and Nasdaq experiencing not only a death cross created by
the 50 and 200-day SMA, but also courtesy of the 10 and 40-week SMA. Despite
the rally from the July lows, the sell signal triggered by the various death crosses
remained active. The fact that the Dow Jones was the only major index to rally
above the June 21 highs provides an additional bearish non-confirmation. Over
the past ten years, the buy/sell action triggered by the SMA crosses has a
success rate of 75% - 100%. Winning trades outperformed losing trades by a
ratio of at least 3:1. In investing, those are not the kind of odds you want to bet
against. In other words, it's time to face reality and abandon denial. Leading up
to the April highs, the ETF Profit Strategy Newsletter noted a pinnacle of denial
which was reflected by investors' outright enthusiasm about stocks. At a time
when approximately 8 of 10 investment advisors and newsletter writers were
bullish on stocks, the ETF Profit Strategy Newsletter noted: 'The message
conveyed by the composite bullishness is unmistakably bearish. The pieces are
in place for a major decline.' Since April 26, the major indexes dropped as much
as 17%. Despite the recent rally, this seems to have been only the first
installment of a significant decline. This decline is now in progress. In fact, the
August issue of the ETF Profit Strategy Newsletter explains the one chart-pattern
that explains why the next leg down will be strong and powerful. A British
Historian noted decades ago that a wise person does at once what a fool does at
last. Both do the same thing; only at different times. Will you get out of the
markets way in time, or too late?
Here’s a new piece of the dismally murky puzzle which belies a previous
raison d’etre for rally: Greek Bonds Slump As Austerity Backfires, Country
Enters “Death Spiral”, And The Violent End Game Approaches .
Previously, Walmart same store sales were actually down (overseas results
were up), and, think about it. Isn’t Walmart, as essentially an american
based sales agent of china products a ‘contrarian indicator’ for the the u.s.;
that is , hasn’t Walmart’s rise coincided with american main street’s
demise. Similarly, fraudulent wall street high frequency churn and earn
programmed trade scams among many other frauds as yet unprosecuted
has heralded the death knell for american business and the economy,
generally. Old news at best and, that ‘not bad as expected, better than
expected dog don’t hunt no more’! ‘YAHOO [BRIEFING.COM]: … Retailers
were also strong. As a group retailers climbed 1.8%. Discount retail giant
and Dow component Wal-Mart (WMT 51.02, +0.61) was a solid performer on
the back of in-line earnings and an improved forecast. Home improvement
retailer and fellow Dow component Home Depot (HD 28.31, +0.93) had a
more positive influence over retailers. It posted better-than-expected
earnings for the latest quarter, but issued a rather mixed forecast. A
smaller-than-expected increase in housing starts during July didn't do
anything to derail the stock this session. Housing starts for July increased
1.7% month-over-month to an annualized rate of 546,000 units, which is
less than the rate of 555,000 units that had been widely anticipated.
Building permits for July fell 3.1% month-over-month to an annualized rate
of 565,000, which is below the rate of 573,000 that had been expected…’
But, just a push of the computer programmed trade button and off we go,
reality / valuation / economics be damned. In real security analysis (very
simplified / summarized), as opposed to the continued frauds on wall
street, one must begin with the largest and most significant aggregate (a
simple word picture / analogy: ‘rising tide lifts all boats’). If you get this
right, the probabilities in your favor are substantially enhanced. From
there, you want leading industries, and leading companies within said
leading industries (again, larger aggregates then picks, to enhance
probabilities, not guarantees, in your favor). Your time frame, 1-3-5 yrs tops
for projections, (including income statement/EPS, balance sheet, and
applying an appropriate P/E – a detailed, multi-faceted approach beyond
what could be described in this summary); and, that’s all they are,
projections. Beyond that time frame, your guess. On fraudulent wall street,
every day, though already discounted in large part (6-8 mos, approx.), the
market spins, churns, and with lightning fast computerized high-frequency
trade programs commissions in huge volumes like no other time in
financial history when real valuation meant something, with no net
economic value added, but very lucrative to the frauds on wall street, which
ultimately is a net detriment to the economy / the nation /and other
industries as we’ve seen and as described elsewhere on this site and in
these posts http://albertpeia.com . Preposterously, they even sometimes
refer to seasonal factors as if hearing them for the first time and
‘explaining’ an up move (almost invariably already discounted). Today, they
shrugged off the deepening economic reality despite the election year
frothing / manipulations. This is a global depression. This is a secular bear
market in a global depression. The past up move was a manipulated bull
(s***) cycle in a secular bear market. This has been a typically manipulated
bubble as has preceded the prior crashes with great regularity that the wall
street frauds and insiders commission and sell into. This is a typical wall
street churn and earn pass the hot potato scam / fraud as in prior crashes’.
This national decline, economic and otherwise, will not end until justice is
served and the wall street frauds et als are criminally prosecuted, jailed,
fined, and disgorgement imposed. ].
cleaners. I realize this view is far from the consensus. Even those who are
in the bear camp aver that the Stimulus did in fact bring us out of recession
at least temporarily.
However, I would strongly contend that the recovery was in fact non-
existent for the following reasons:
1. The Government data used to validate the recovery (GPD,
unemployment, etc) is clearly massaged if not bordering on
outright propaganda
2. We are in fact in a depression and the “recovery” was

simply a bounce in economic activity taking place within the
context of a larger economy contraction
Regarding #1, every Government data point used in promoting the

“recovery” had some degree of fudging in it. Let’s consider GDP for
instance.
There are numerous devious tactics used to overstate GDP growth,
however, the most obvious gimmick the BLS uses is overstating GPD
growth in the present and then revising it lower in the subsequent
quarters.’
Kaufman on High Frequency Trading ‘Sen. Ted Kaufman (D., Del.) has
been banging the drum on the need for regulatory changes to high
frequency trading for a while. His latest thoughts on the matter take the
form of a letter to SEC Chairwoman Mary Schapiro urging — among other
things — major high-frequency trading firms be required to register with
the Securities and Exchange Commission. Dow Jones Newswires’ Jacob
Bunge reports:…’

died Paul Craig Roberts | The bought-and-paid-for-economists got all the
media forums for a decade. While they lied, the US economy died.
Great Depression.
The Bond Market Is Signaling Trouble Ahead Claus Vogt | My outlook for
the economy and the stock market has steadily and significantly
deteriorated since March 2010.
China Drains Obama Stimulus Meant for U.S. Economy Bloomberg |

Globalization is pitting the Wangs in China or Gandhis in India against
the Smiths in the U.S. or Gonzalezes in Spain.
Chossudovsky: China could already be world’s largest economy It’s

widely predicted that China’s economy will be the largest in the world
by 2020, overtaking the U.S. Only this week the country surpassed
Japan to become the world’s second biggest economy by GDP.
Greek Bonds Slump As Austerity Backfires, Country Enters “Death Spiral”,

And The Violent End Game Approaches Those patiently following the
Greek Bond-Bund spread to its inevitable conclusion have been fully
aware that the plan that Europe is betting its entire future on, is
patently flawed: namely that austerity, by its definition does not, and
will not work.
Malaysian Province Moves To Gold And Silver-Based Currency In “Main

Islamic Event Of The Last 100 Years” More world governments are
“just saying no” to the ponzi. Last week, the Malaysian government of
Kelantan “said it was introducing a new monetary system featuring
standardised gold and silver coins based on the traditional dinar and
dirham coins once used by the Ottoman Empire.”
Analysts Foresee $1,300 Gold By Year-End Worries about a fragile U.S.
economy are likely to keep investors shifting toward gold and could
push the metal to fresh record highs near the $1,300 area by year-end,
analysts and traders say.
Kicked In The Groin: Health Insurance Companies Are Dramatically

Increasing Premiums Due To The New Health Care Law And There Is
Not Much We Can Do About It Wasn’t the new health care reform law
supposed to make health care more affordable for everyone? Well,
imagine my surprise when I opened up a letter from my health
insurance company recently and found out that my health insurance
premiums were going up by nearly 50 percent.
geithner: Fannie, Freddie in need of overhaul (Washington Post) Now this

is an understatement from tiny tim, God bless us everyone. I think tiny
tim’s more concerned with public perception over their haul of
taxpayer dollars.
Manufacturing, housing sectors exhibit diverging fortunes (Washington

Post) I’d say understatement but I truly don’t know what this headline
means juxtaposed with ‘fortunes’.
Are You Ready For How Bad It Will Get? Graham Summers | There are
suspect.
China Slashes U.S. Government Bond Holdings By The Largest Amount

Ever China began reducing its holdings of U.S. government bonds
again in June, and in fact cut just its holdings by the largest 1-month
amount ever.
18 Signs That America Is Rotting Right In Front Of Our Eyes Sometimes it

isn’t necessary to quote facts and figures about government debt,
unemployment and the trade deficit in order to convey how badly
America is decaying.
Goldman Sachs Could be Largely Unaffected by ‘Financial Overhaul’ As
Wall Street scrambles to find the best and most profitable way to
operate under the new financial reform law, Goldman Sachs Group
Inc. — the firm that was expected to suffer the most under the
legislation — could emerge practically unscathed.
Tons of gold imports turn to dust on arrival Several tons of gold imported
into the UAE by traders and investors turned out to be fake on closer
inspection, resulting in millions of dirhams in losses and high levels
of stress to the victims.
Paul Joseph Watson | In the face of censorship, it’s more important
than ever that people get the word out about Google’s plan to kill the
web.
‘Bombshell Barack’ and ‘Kill Web’ Heading to Top of Google Trends Matt
Ryan | Alex Jones would like to again thank everyone for their
continued support in spreading the message of truth.
Google Plans To Kill Web In Internet Takeover Agenda Paul Joseph Watson
| Doomsday scheme will silence independent voices for good.
Provocateurs Spray-paint “Infowars.com” on Private Property in

Pennsylvania Kurt Nimmo | Fox News station in Pennsylvania
insinuates Infowars.com behind incident.
Having at first appeared as normal, our earlier article about Google’s plan
to kill the web has been completely de-listed from Google News. This is
completely unprecedented and underscores how keen Google is to prevent
people from finding out that it is a CIA-NSA front that is preparing to
completely end the Internet as we know it with the Verizon net-neutrality
killing deal.
Drudgereport: NEW LOW FOR O: GALLUP DAILY SHOWS OBAMA 41%

APPROVE, 52% DIS...
Death of the 'McMansion': Era of Huge Homes Is Over...
Bankruptcies Reach Nearly 5-Year High...
REPORT: China targets U.S. troops with arms buildup...
Military power growing...
Pentagon warning...
Risky game on the high seas...
How long can America fend off the dragon?
'Without a revolution, Americans are history'...
From Good to Mediocre ‘Through last Friday, 2,127 US companies had

reported quarterly numbers this earnings season. What started out as a
strong earnings season is going out with a whimper (earnings season ends
tomorrow with Wal-Mart's report)…’
Great Depression.
Are You Ready For How Bad It Will Get? Graham Summers | There are
suspect.
Without a Revolution, Americans Are History The United States is running

out of time to get its budget and trade deficits under control. Despite
the urgency of the situation, 2010 has been wasted in hype about a
non-existent recovery. As recently as August 2 Treasury Secretary
Timothy F. Geithner penned a New York Times column, “Welcome to
the Recovery.”
How Goldman Sachs Is Screwing Over Other Banks In The Coming GM IPO
As if its rivals didn’t have reason enough to hate Goldman Sachs (GS),
they’ve just been given one more reason.
China Favors Euro Over Dollar as Bernanke Alters Path Bloomberg | China,
whose $2.45 trillion in foreign-exchange reserves are the world’s
largest, is turning bullish on Europe and Japan at the expense of the
U.S.
High Probability for Lower Market Prices Ahead ‘…Economic numbers

being what they are (very poor), we should expect a downward revision of
second quarter GDP to 1.5% from the originally disappointing number of
2.4%. As more data is being released it is apparent that we are witnessing
even further deterioration here in the third quarter…We may have reached
a tipping point where many are tired of others being the benefactors of
taxpayer money …’
Gold Providing Safety During Market Downturn ‘ … The death cross occurs
when the 50 day moving average crosses the 200 day moving average on
the downside. These patterns, when combined with other technical
indicators can predict major market downturns…THE ODDS OF A LONG
TERM DOWNTREND ARE BECOMING HIGHLY PROBABLE. THESE
SIGNALS COULD POSSIBLY INDICATE THE START OF A TWELVE TO
EIGHTEEN MONTH DOWN CYCLE. Gold, on the other hand, has shown
great relative strength despite the general markets correcting and negative
sentiment about the economy from Washington…’
Pension check may not be in the mail Chicago Tribune | Illinois public
employees who think the state constitution guarantees that they’ll get
all their pension benefits
Back to School? Bring Your Own Toilet Paper New York Times | “The first
time I saw it, my mouth hit the floor,” Emily’s mother, Kristin Cooper,
said of the list, which also included perennials like glue sticks,
scissors and crayons.
An Argentina-like Economic Crisis Scott Strzelczyk | The United States’

economic decline precariously resembles Argentina’s economic
collapse.
U.S. Economy Near Point of No Return Dan Weil | The Federal Reserve’s
decision to expand its quantitative easing by purchasing more
Treasuries is a dangerous one.
Obama Says Private Accounts Would Endanger U.S. Social Security

Benefits President Barack Obama said Republican proposals to have
people invest Social Security benefits in private accounts would
increase the U.S. budget deficit and put retirement money at risk to
“the whims of Wall Street traders.”
The Trade Deficit Nightmare When they hear the word deficit, most
Americans immediately think of the U.S. government budget deficit
which is rapidly spiralling out of control.
Fed’s Hoenig: Keeping Rates Too Low ‘Dangerous Gamble’ The Federal
Reserve is undertaking a “dangerous gamble” by keeping rates at
near zero for so long, and must start raising rates or risk damaging
the nascent U.S. recovery, a top Federal Reserve official said on
Friday.
Will Quantitative Easing By The Federal Reserve Unleash Economic Hell?

The Economic Collapse | Most of the folks populating Congress are so
incompetent that they should not even be hired to mop the floors of a Dairy
Queen.
China surpasses Japan as world's No. 2 economy (Washington Post) [ As

if we didn’t see that coming! ]
Dr David Kelly was on a hitlist, says UN weapons expert as calls grow for
full inquest Mail Online | Dr Richard Spertzel claimed Dr Kelly was on a
‘hitlist’ in the final years of his life.
Iran Attack This Week? Kurt Nimmo | John Bolton and the neocons refuse
to accept that Iran’s facility will produce nuclear energy and insist it
will be used to create nuclear weapons.
The Hidden Tragedy of the CIA’s Experiments on Children Shortly after

deciding to initiate her own LSD experiments on children, Bender
attended a conference sponsored by a CIA front group, the Josiah
Macy Foundation.
Shilling for War on Iran I guess I was naïve in thinking that The Atlantic
and its American-Israeli writer Jeffrey Goldberg might shy away from
arguing for yet another war — this one with Iran — while the
cauldrons are still boiling in Afghanistan and Iraq. Even world-class
chutzpah must have its limits, I had thought.

incompetent that they should not even be hired to mop the floors of a
Dairy Queen.
Drudgereport: O FALLS TO NEW LOW AT GALLUP DAILY...

China overtakes Japan as No. 2 economy...
China Favoring Euros Over Dollars...
'Without a revolution, Americans are history'...
NEWSWEEK: World's Best Country: Finland [USA #11]...
House to cut food stamps to fund Mrs. Obama's 'let's move' initiative...
Banks to benefit most from White House effort to fight foreclosures...
Petraeus: 'We're doing everything we can' …[Sounds like a plan!]...
Builds Case for 'Success' in Afghanistan …[If only words could make
it so!]...
Karzai asks Obama for review of war...
Foreign troops deaths pass 2,000...
MYSTERY: West Wing of White House covered in tarp...
Harvard University fund sells all israel holdings... … UPDATE: Harvard
insists israeli shares sale not driven by boycott...
GOOGLEVERIZON Deal: Fears for Privacy...
HOW TO BEAR MARKET PROOF YOUR PORFOLIO Simon Maierhofer, On

Friday August 13, 2010, ‘… The 22 trading days following the April 26
market highs erased eight months worth of gains. Bear markets move
much quicker than bull markets.
Rule #1: Better too Early than too Late
When preparing for a bear market (we'll discuss in a moment why we have
been preparing for a bear market), it is prudent to start early. Anyone who
sold their long positions as early as September last year would be in a
better position than the buy-and hold crowd that is still clinging to their
holdings.
Rule #2: Don't Trust Wall Street and the Media
By now, even the mainstream media is sensing that something might not
be quite right with the market's performance. However, there is still hope
that the second half of the year will get a lift from positive earning results.
Before you bet your money on that line of reasoning, consider the picture
the media painted days within the April 2010 market top.
April 19, 2010 'America is back - The remarkable tale of an economic

turnaround' – Newsweek
'Recovery tilting to V-shape as profits prompts growth revision' -
Bloomberg
April 25, 2010: 'U.S. stocks cheapest since 1990 on analyst estimates' –
Bloomberg
'Technical Analysts see room to roll' - Wall Street Journal
April 27, 2010 'Greece contagion fears unfounded' - Reuters
May 3, 2010: 'Manufacturing in U.S. grows at fastest pace since 2004 as

recovery gains traction' - Bloomberg
Over the past two and a half months, the S&P (NYSEArca: SPY - News) and
Dow (NYSEArca: DIA - News) have lost as much as 17%. A 20% loss is
considered the mark of a new bear market. In essence, we are only one bad
day away from the next bear. Of course, throughout the massive bear
market rally from the March 2009 lows, which the ETF Profit Strategy
Newsletter predicted via the March 2, 2009 Trend Change Alert, the
newsletter maintained that it was only a bear market trap which would fool
a majority of investors. On April 16 it stated that 'Most bulls have no clue
why they are bullish except for the fact that they feel the need to play the
momentum game. Sounds like 2000 and 2007 all over again. The message
conveyed by the composite bullishness is unmistakably bearish.'
Rule #3: Don't Underestimate Cash
In a period of falling prices, cash or cash equivalents like short term

Treasuries (NYSEArca: SHY - News) maintain your purchasing power -
long-term Treasuries (NYSEArca: TLT - News) are interest rate sensitive
and may move faster than you think. When stocks fall and you are able to
maintain your purchasing power, you are able to buy stocks at a discount.
In essence, cash offers a positive return in periods of falling prices.
Additionally, or alternatively, investors may choose to buy short or
leveraged short ETFs such as the Short S&P 500 ProShares
(NYSEArca: SH - News), UltraShort Russell 2000 ProShares
(NYSEArca: TWM - News) UltraShort S&P 500 ProShares
(NYSEArca: SDS - News), Short Financial ProShares (NYSEArca: SEF -
News), Direxion Daily Financial Bear 3x Shares (NYSEArca: FAZ - News)
and many more.
Rule #4: Don't Procrastinate
On May 14, the ETF Profit Strategy Newsletter predicted that the S&P
(NYSEArca: IVV - News) will fall through the important 1,040 resistance
level. Aside from a small cluster of resistances (one being round number
resistance), a break below 1,040 opened the door wide for significantly
lower prices. We mentioned above that we've been preparing for a
reemerging bear market even before the April highs. Why? Simply put,
stocks are overvalued. How can that be? One of the above headlines read
that U.S. stocks are cheapest since 1990, at least according to analyst
projections. The key word is projections. Analysts project operating
earnings for the S&P to clock in at $94.83 in 2011. This is higher than the
2007 peak of $91.47. That's right, despite record high unemployment, a
European (NYSEArca: VGK - News) debt crisis, a 17% U.S. market
correction, and all the other problems economists expect corporate profits
will exceed their 2007 all-time highs. Does that sound reasonable to you?
Keep in mind that projected earnings are just that - projected. They can and
will change. In fact, analysts have a reputation of following the trend. In
April 2008, analysts predicted earnings of $113. After cutting its forecast to
$53, Goldman Sachs cut its earnings forecast to $40 in March 2009. As we
know today, stocks rallied, and actual 2009 earnings came in at $56.87. The
list goes on, but the simple message is that analysts tend to be overly
optimistic before the fall and overly pessimistic before a rally. Right now
they are overly optimistic. The conclusion is easy.
Rule #5: Know who to Trust
Even when basing the current P/E ratio on overly optimistic estimates, it is
still far away from the P/E ratios seen at historic market bottoms. The same
holds true for dividend yields. A look at various valuation measures shows
that the market is overvalued by much more than just 10 or 20%. The ETF
Profit Strategy Newsletter provides a detailed analysis of four valuation
metrics with a near spotless track record of historic accuracy…’
No Exit, Stage Left or Right Peter shiff ‘… Those who fear a double dip
recession are justified in their concerns, but they are also missing the big
picture. The 2008 recession never ended. It was merely interrupted by
trillions of dollars of stimulus that purchased GDP “growth” with borrowed
money. But as the bills come due, GDP should now contract … After
decades of abuse, it’s time for the Fed to take make a dramatic exit,
because the US economy can’t take it anymore.’

collapse.
The Dollar’s Third and Final Act LewRockwell.com | The US credit system is
in the midst of its third credit crisis since the advent of the Federal
Reserve.
Roubini: Even If The Economy Doesn’t Technically Double Dip, It’s Still
Going To Be Awful If you haven’t seen it already, I highly recommend
this interview with Nouriel Roubini. Particularly he raises the point
that while the U.S. may not technically double-dip into a new
recession, it’s going to feel like it is.
Hindenburg Omen: Stock Market Crash Imminent? Easily the most feared
technical pattern in all of chartism (for the bullishly inclined) is the
dreaded Hindenburg Omen. Those who know what it is, tend to have
an atavistic reaction to its mere mention.
Capital Controls: The Final Phase in the Great Looting of America Eric
Blair | Capital controls are the next big event in the government-banking-
oligarchy’s great looting of America.
Jobless claims jump to 5-month high The number of first-time filers for
unemployment insurance rose to the highest level since late February
last week, according to a weekly government report released
Thursday.
Deficit in July Totals $165.04 Billion The U.S. government spent itself
deeper into the red last month, paying nearly $20 billion in interest on
debt and an additional $9.8 billion to help unemployed Americans.
double-dip recession but potentially a new great depression, any alarm
bells that have not been rung should now be sounding loudly.
Bailouts Went To Foreign Banks: Congressional Report Confirms What We

Already Knew A Congressional Oversight Panel issued today highlights the
fact that large portions of the Treasury’s $700 billion bailout fund have
gone straight into the coffers of foreign banks, a fact that we knew months
ago, but is only now being officially recognised.
Fed Leads America “To The Brink Of Collapse” Paul Joseph Watson |
Bernanke announcement that central bank will buy US debt marks
point of no return.
15 Economic Statistics That Just Keep Getting Worse The Economic

Collapse | Anyone who claims that things are getting “better” is either
ignorant, completely deluded or is purposely lying.
Economy Teeters On The Brink and Market Manipulation Continues

Bob Chapman | It’s just the same old, same old, business as usual in
America.
The Fed’s New Round of Quantitative Easing Is Like Trying to Patch

Leaking Pipes by Pumping in More Water Washington’s Blog | The
government hasn’t even tried to replace the leaking sections of pipe in
our economy.
Is this finally the economic collapse? Fortune | Should we bite the

bullet and accept that current economic policy dictates 0% returns-on-
savings, even as Washington continues to lever-up our future to the
point of economic collapse?
U.S. Is Bankrupt and We Don’t Even Know Bloomberg | Let’s get real.
The U.S. is bankrupt. Neither spending more nor taxing less will help
the country pay its bills.
Marc Faber: Protect Your Property with High Voltage Fences, Barbed Wire,
Booby Traps, Military Weapons and Dobermans Investment guru and
publisher of The Gloom, Boom and Doom report, Marc Faber, regularly
discusses investment strategies for protecting and building wealth during
times of economic distress.
States get grants to help regulate health insurance rates (Washington Post)
Sounds like a plan … born of capital hill math; viz., ie., just sayin’, $1
million for a bureaucracy that will cost many millions, even as states
like the nation itself are defacto bankrupt.
Regulators consider toughening overdraft rules even more (Washington

Post) Wow! They’re tough … when talking millions instead of the
hundreds of billions of taxpayer funds they’ve frittered away. You
can’t make this stuff up!
Barclays Bank agrees to forfeit $298 million to authorities (Washington

Post) Well, they haven’t gotten to the point just yet where it’s just not
worth doing business in america, but they’re workin’ on it and getting’
there!
In Supporting The Ground Zero Mosque, Barack Obama Falls On His Sword
[ I really wasn’t inclined to comment on this because it’s just not that
big a deal except as to exceedingly small minds. However, I feel I must
say that if the jewish Mayor of NYC who is certainly no slouch and
really knows how to count thinks it’s ok, then it’s OK. Period! ] With
President barack obama’s political dynasty already on life support, his
decision to publicly back the hugely unpopular building of a Muslim
mosque near Ground Zero confirms that Obama, or rather the
advisors that pull his strings, have decided to commit political suicide
and cut him loose from the Washington power structure, with the
hope of fooling Americans with another establishment Republican as
a legitimate alternative in 2012.
Makeup of Obama's housing reform panel draws ire (Washington Post)

[Wow! Talk about late to the party! I mean … a conference? It’s not as
if this was some new or novel problem coming down the pike. Then
there’s the everything but the core issue / problem approach that
seems recurringly fashionable.] Advocates say that the administration
is excluding consumer and community groups from playing
prominent roles in a government-sponsored conference next week
that will kick off efforts to overhaul national housing policy.
Warnings: Social Security at risk (Washington Post) [ Not this again! It

bears repeating, that was always a bad idea and there was a plethora of
reasons set forth on my site as to why the social security privatization plan
being shilled by moron war criminal dumbya bush on behalf of the wall
street frauds was an exceedingly bad idea. Indeed, as defacto insolvent as
america / the social security system is, the nation and system would have
been wiped out by privatization debacle. Talk about too big to, but still
failed. It was a bad idea then, and though accusations may fly as to fear
mongering, the reality of the venality attendant to such a preposterous
course on behalf of the wall street frauds requires vigilance, scrutiny, and
discourse concerning even the remote possibility of such a fool-hearty
betrayal of the citizenry of the nation. As such, as off the mark as wobama
has almost invariably been, he’s on the mark on this. ]ANALYSIS | Obama
says GOP wants to privatize program, but liberals see a different threat.
Foreclosures surge 9 percent in July (Washington Post) Those glass-half-

full frauds on wall street along with the administration will be cheering this
unequivocally bad news with a dubious retort as ‘used home sales will rise’
… riiiight! Anything you say …
Stocks dip for third straight day (Washington Post) [Investor fears? How
‘bout reality. Even an essentially non-business site as Drudge has the
pulse of this pervasive realization that ‘those dogs of happy days are here
again don’t hunt no more’. Check the heads: DRUDGEREPORT: America Is
'Bankrupt Mickey Mouse Economy'...
WIRE: USA 'Bankrupt and We Don't Even Know It'...
DEFICIT ADDS $165,040,000,000.00 -- IN ONE MONTH!
YOUTH UNEMPLOYMENT HITS RECORD HIGH
JOBLESS CLAIMS JUMP TO HIGHEST SINCE FEB...
California can't pay bills -- may use IOUs for August payments...
Homes lost to foreclosure up 6% from last year...
Grim Voter Mood Turns Grimmer... and Economists Herald New Great
Depression The world is currently experiencing the modern day equivalent
of the Great Depression, according to a prominent economist who has
added his voice to scores of others now forecasting ongoing economic
doom on a scale not seen since the 1930s. Peter Schiff: “We’re in the Early
Stages of a Depression” The Motley Fool | Four years and the worst
recession since the Great Depression later, Schiff stands alone again with
a bleaker diagnosis for the economy: an inflationary depression. My take:
This is a global depression. This is a secular bear market in a global
secular bear market. This has been a typically manipulated bubble as has
preceded the prior crashes with great regularity that the wall street frauds
and insiders commission and sell into. This is a typical wall street churn
fined, and disgorgement imposed
Pearlstein: The FCC and the bandwidth wars (Washington Post) [The
internet has been among the few areas of growth and american
prominence, at least at this point in time. Clearly, as with the throng that
heralded in NAFTA, the self-interested voices of ie., google, verizon, etc.,
are similarly anathema to the greater good (as was NAFTA). Berners-Lee
spoke against such parochialism in no uncertain terms, much as did Ross
Perot on NAFTA and history has proven Perot correct as is so of the mind
numbing approaches of google, verizon, etc.] Google-Verizon Pact: It Gets
Worse (infowars.com) [ Timothy Berners-Lee, putative father of the internet
along with Cerf, has already weighed in on this topic and strenuously
opposed same and whose learned opinion should be given great weight.
google and verizon as mere government shills at best and government, ie.,
nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast
in government hands! ]. So Google and Verizon went public today with
their “policy framework” — better known as the pact to end the Internet as
we know it.
AP Business Highlights ‘Jobs picture dims as unemployment claims rise

WASHINGTON (AP) -- The economy is looking bleaker as new applications
for jobless benefits rose last week to the highest level in almost six
months. It's a sign that hiring remains weak and employers may be going
back to cutting their staffs. Analysts say the increase suggests companies
won't be adding enough workers in August to lower the 9.5 percent
unemployment rate. First-time claims for jobless benefits edged up by
2,000 to a seasonally adjusted 484,000, the Labor Department said
Thursday. That's the highest total since February. Analysts had expected
claims to fall…’
Bearish Sentiment Falls to 14-Week Low [Talk about contrarian indicators!]

AAII – ‘Bullish sentiment rose 9.4 percentage points to 39.8% in the latest
AAII Sentiment Survey. Despite the size of the increase, the proportion of
individual investors expecting stock prices to rise over the next six months
is only at a two-week high. The historical average is 39%. Neutral
sentiment, expectations that stock prices will stay essentially flat over the
next six months, fell 1.3 percentage points to 30.1%. The historical average
is 31%. Bearish sentiment, expectations that stock prices will fall, dropped
8.1 percentage points to 30.1%. This is a 14-week low. The historical
average is 30%. The survey period, Thursday through Wednesday, needs to
be taken into consideration when looking at these results. Stock prices
were essentially flat through most of this week's survey period (with the
obvious exception of yesterday), giving some investors hope that a short-
term bottom had been established. Though there were big changes in
bullish and bearish sentiment, both optimism and pessimism are close to
their historical averages. As a result, I would argue that individual
investors' confidence in the market remains fragile…’
Lavish lifestyle for bank executive in Waters case (Washington Post) While
this is typical of California, isn’t it as typical of the wall street frauds?
Scammin’ everybody with that too big to fail b*** s*** when they’re a
net economic drain, high frequency churn-and-earn computer
programmed trading scams among the more blatant frauds emanating
from their insatiable greed and sense of entitlement. Previous post:
Cities, counties could slash 500,000 more jobs (Washington Post)
Could? I’d say must. Particularly when you factor in that this election
‘spurt’ leaving the nation even more bankrupt is illusory. I had
occasion some time ago in speaking with a long-time California
resident (instructor at the college gym where I worked out) to express
my surprise at the bloated (municipal, state) high-priced bureaucracy
which of course is not productive except as to higher taxes and which
is at the forefront in the city of Bell where the city manager was paid
nearly 900,000 annually (with benefits the package was an incredible
$1,500,000), and specifically mentioned the part-time typical
compensation of $100,000 and contracts to interested, even familial,
parties. Of course, no one has done this better than feinstein, albeit on
a more federal level and China contracts through her husband’s
companies, as previousl set forth on this website. Drudgereport:
'Where do the bailouts end?' [I feel compelled to comment here that
even capital hill math would be hard-pressed to justify $26 billion
taxpayer / treasury dollars they don’t really have, to save 300,000 state
/ local government jobs! After all, the nation is defacto bankrupt! ]
Bailouts benefited foreign firms (Washington Post) True enough! But, truth
be told, the fraud giving rise to the financial debacle was home grown
americana. Moreover, the remnants of same are still out there in the
trillions, now ‘marked to anything they so choose’, courtesy of a
complicit, albeit after the fact, congress. This is the point … rather
than as should have been the case of making the perps pay, the
bailouts / cover-ups by now enablers if not accomplices is ending
quite badly with much worse to come, and that includes those
european lightweights who have come into the fraudulent wall street
fold to theirs and the world’s economic and financial detriment.
U.S. trade deficit startles markets (Washington Post) [ Unexpectedly? I

don’t think so! And, I have my site, other references / links and posts to
prove it; and, what’s more, I’m not alone. After all, what are NAFTAs for
anyway. However, I also must candidly admit I don’t frequent the
mainstream blather / propaganda that includes the ‘money-honeys’ (when
the messenger’s more important than the message, problems and
distortions are bound to follow) and their ilk, etc.. NBR’s about it and even
they have their pressures (I don’t consider the Washington Post
mainstream in the pejorative sense of the word, with a rich journalistic
history to back that up, all things considered) ]. Unexpectedly bad news
from three continents reinforces fears that global recovery is faltering.
Obama signs $26 billion jobs bill (WP) [I feel compelled to comment here
that even using capital hill math one would be hard-pressed to justify $26
billion taxpayer / treasury dollars they don’t really have, to save 300,000
state / local government jobs! After all, the nation is defacto bankrupt! I
think the former Soviet Union would have done the same.]
Fed action signals new activism (Washington Post) [ Riiiiight! The activist
ACCORDING TO TECHNICAL INDICATORS, MELTDOWN IS POSSIBLE

Simon Maierhofer A SOLID TRACK RECORD An analysis of the SMA
crossover buy/sell signals triggered for the S&P over the past 10 days
shows that six of the eight signals (75%) were correct. ..LAGGING BUT
ACCURATE Many dismiss the 200-day or other SMAs as lagging indicators.
Although an indicator may be lagging it doesn't mean it's incorrect or
should be dismissed… Even though a lagging indicator, the rain does
confirm that a storm is coming. A PRO-ACTIVE APPROACH You'd expect
Wall Street and the financial media to be the financial weather man and
warn you of upcoming storms. Unfortunately, that is not so. Leading up to
the April 2010 recovery highs, Wall Street and the media proclaimed the
skies are clear, 'sunny throughout the year' was their weather forecast.
Only after investors got drenched, did Wall Street recommend pulling out
the umbrella. Sure enough, as soon as the umbrellas came out, stocks
switched into rally mode and the sky cleared up. Unlike Wall Street, the ETF
Profit Strategy Newsletter warned of the brewing storm while it was still
sunny. On April 16, the newsletter warned that 'historically, there has rarely
been a more pronounced sell signal ... When consumers spend, they do so
with credit cards. Visa and Master Card both got hit with a death cross. It's
just a matter of time until the discretionary sector follows. WAIT, THERE IS
MORE …High copper prices are reflective of high demand and a humming
economy. Lower copper prices signal trouble ahead. On June 22, an
ominous death cross visited copper's chart. PUTTING THE ODDS IN YOUR
FAVOR Investing is a game of probabilities. While you always want to have
the odds in your favor, you never want to bet against the odds. Right now,
the odds are piling up on the bearish side of the ledger. Even though Wall
Street is saying that the sky has cleared up, 'meteorologists' with a better
track record are warning of the storm ahead. In fact, there is one rare chart
formation that strongly suggests the onset of a 2008-like decline, a
development that's certainly supported by the number of death crosses
spanning a variety of markets. The August issue of the ETF Profit Strategy
Newsletter includes a detailed short, mid and long-term forecast, along
with the one chart that tells the market's story and true bearish potential.
Congressman Calls Vote on $26 Billion Jobs Bill a Sign ‘We’re Not
Bankrupting the Country Fast Enough’ With a tone of sarcasm, a
California Republican congressman said that he “knows” why
members of the U.S. House of Representatives were summoned from
their home districts back to Washington, D.C., and the halls of
Congress.
U.S. Is Bankrupt and We Don’t Even Know Bloomberg | Let’s get real. The
U.S. is bankrupt. Neither spending more nor taxing less will help the
country pay its bills.
Crowd waiting for housing vouchers gets rowdy Atlanta Journal-

Constitution | A crowd of people hoping to get federal housing
assistance became unruly Wednesday morning with reports of fights
breaking out in the crowd.
Californians’ income falls for first time since WWII Sacramento Bee | The
personal incomes of Golden State workers fell by that amount in 2009
compared with the previous year.
Google-Verizon Pact: It Gets Worse [ Timothy Berners-Lee, putative father

of the internet along with Cerf, has already weighed in on this topic and
strenuously opposed same and whose learned opinion should be given
great weight. google and verizon as mere government shills at best and
government, ie., nsa / cia, etc., operatives at worst, are ‘johnny-come-
latelies’ and died fast in government hands! ]. So Google and Verizon went
public today with their “policy framework” — better known as the pact to
end the Internet as we know it.
San Francisco Fed: “A Recessionary Relapse Is A Significant Possibility

Sometime In The Next Two Years” [ Picture the fed as a pseudo ninja
with fancy foreplay / motions getting decked / ‘koed’ with a simple
right-hook to the jaw by the antagonist named reality. All this
finagling, manipulation, fiat currency over-printing, and nation
bankrupting debt, and … nothing / nada / ‘growth ‘ estimates revised
downward, unemployment unabated since economic reality figures
somewhat in hiring to say the least, and jobs transferred overseas
ain’t comin’ back. Quite simply, this is a depression no matter what
they call it! ] Presented without commentary, suffice to say that idiots
who look at the LEI and factor for the curve inversion subindicator
deserve all they get.
Peter Schiff: “We’re in the Early Stages of a Depression” The Motley Fool |
Four years and the worst recession since the Great Depression later,
Schiff stands alone again with a bleaker diagnosis for the economy:
an inflationary depression.
Democrats, Advocacy Groups Blast Cuts to Food Stamps to Fund $26B Aid
Bill Some Democrats are upset and advocacy groups are outraged
over the raiding of the food-stamp cupboard to fund a state-aid bailout
that some call a gift to teachers and government union workers.
15 Economic Statistics That Just Keep Getting Worse A little over a week
ago, U.S. Treasury Secretary Timothy Geithner penned an article for
the New York Times entitled “Welcome To The Recovery” in which he
touted the great strides that the U.S. economy was making.
America Is ‘Bankrupt Mickey Mouse Economy’: CIO America is a “Mickey

Mouse economy” that is technically bankrupt, according to Jochen
Wermuth, the Chief Investment Officer (CIO) and managing partner at
Wermuth Asset Management.
DRUDGEREPORT: America Is 'Bankrupt Mickey Mouse Economy'...
Grim Voter Mood Turns Grimmer...
Claims of Afghan civilian deaths spark protest...
Military sees heavier fighting in fall...
PAPER: 10 reasons why Obama presidency is in meltdown...
GALLUP: Even the Poor Are Abandoning Obama; Approval Under 50%...
Obama abolishes White House position dedicated to transparency...
Michelle Obama popularity falls...
UPDATE: Suspected serial killer arrested in Atlanta...
Attempting to flee to israel … to be with kindred spirits ...
MOB RUSH FOR FED AID DRAWS RIOT POLICE
DOW drops 265...
Feds rethink policies that encourage home ownership...
Obama: $3 Billion More in Aid for Unemployed...
US posts widest trade gap in 20 months...
Q2 GDP Growth Could Be Revised To Just 1% After Trade Data...
PUMP: FED TO BUY MORE DEBT...
DOWNGRADES OUTLOOK...
US-backed fighters in Iraq defect to al-Qaida... [Winning hearts and minds … for
Al Qaida … just one too many civilian deaths for no good reason at all ]
BACK TO SPEND SOME MORE!
Republicans Suggest Names for 'Second Stimulus' Bill...
'Where do the bailouts end?' [I feel compelled to comment here that even
capital hill math would be hard-pressed to justify $26 billion taxpayer /
treasury dollars they don’t really have, to save 300,000 state / local
government jobs! After all, the nation is defacto bankrupt! ]
9 Reasons Why You Won’t See A Jobs Recovery Anytime Soon In two
words: small businesses.
Federal Employees Earn 30 to 40 Percent More than Private-Sector

Workers, Study Finds Federal employees earn 30 to 40 percent more
money than their private sector counterparts on average, a study from
the conservative Heritage Foundation finds.
The Oil Price Surge Indicator Says There’s A 100% Chance Of A New
Recession No, that headline is not a typo.
Gerald Celente On the Alex Jones Show: Double Dip Depression Will Lead
Us Into War The white shoe boys are taking us into the worst depression in
history.


the 1930s.
Ambac says it's working on bankruptcy filing MBIA Inc. reports a

quarterly profit, while rival bond insurer Ambac Financial Group
posts a loss....
Food Inflation Coming To A Household Near You, As Wal-Mart Hikes Prices

At Fastest Pace Since Early January Nothing to see here, except yet
another sign of the food inflation that’s the story of the moment.
Albert Edwards Explains How The Leading Indicator Is Already Back Into
Recession Territory And Why The Japan “Ice Age” Is Coming Albert
Edwards reverts to his favorite economic concept, the “Ice Age” in his
latest commentary piece, presenting another piece in the puzzle of
similarities between the Japanese experience and that which the US is
currently going through.
The Horrific Derivatives Bubble That Could One Day Destroy The Entire
World Financial System Today there is a horrific derivatives bubble
that threatens to destroy not only the U.S. economy but the entire
world financial system as well, but unfortunately the vast majority of
people do not understand it.
Fed set to downgrade outlook for US Financial Times | The Federal

Reserve is set to downgrade its assessment of US economic
prospects.
Goldman Made Between $11 And $16 Billion In 2009 Trading CDS And
Other Derivatives As part of its most recent FCIC grilling, David Viniar
left the political theater a month ago with a homework assignment to
disclose all of the firm’s derivative profits, as well as provide granular
detail on its derivative trades.
Japan Redux: A Video Case Study Of The Upcoming U.S. Lost Decade
Whether one believes in inflation or deflation, one thing is certain: in
many ways the current US experience finds numerous parallels to
what has been happening in Japan for not one but two decades.
Pentagon can’t account for $8.57 billion in Iraqi funds B is for billions. And
b is for it’s hard to believe that they’ve done it again. The last time,
even more money vanished, which I noted in my article, Following
Pentagon trillions to Israel and 9-11. This was under the Zionist Dov
Zakheim’s watch as Comptroller of the Pentagon from May 4, 2001, to
March 10, 2004.
Wall Street bill sweeps away stray remnant of 1933 Glass-Steagall Act In
seven simple lines buried in this year’s financial overhaul bill,
lawmakers swept away one of the last vestiges of the 1933 Glass-
Steagall Act that held sway over markets for decades.
Small firms pay price of bank boom: As bankers celebrate more profits,
more companies die from lack of loans Small businesses are paying
the price for the banks’ dramatic return to bumper profits.
Dollar approaches 15-year low against yen The dollar plunged to a fresh
eight-month low against the yen after US employment data
disappointed expectations, raising the prospect of looser monetary
policy from the Federal Reserve.
Riiiiight! That ‘no-longer looking’ dynamic that saves the day and the ue
rate at 9.5%. At this rate of progress, and according to their thinking and
manipulations, full employment at an unprecedented 0% unemployment is
just around the corner as everyone stops looking for the jobs no longer
here, many of which were sent overseas and which are not coming back
owing to substantial economic structural / financial shifts.
Jobs Report: Companies Slow to Hire ABC News - Only about 8 percent of
the 8.4 million jobs lost at the peak of the recession have been recovered,
leaving millions of Americans still looking for work, according to an
analysis by ABC News' Business Unit. Video: News Update: US
Unemployment Rate Holds at 9.5%, 71,000 Jobs Added in June
SmarTrend News 71K more jobs not enough to dent unemployment rate
The Associated Press
When perusing the headlines and the following, I immediately thought

‘between Iraq and a hard place (Afghanistan and america’s defacto
bankruptcy)’:
Between a Rock and a Hard Place Jerry Slusiewicz ‘Everyone knows that
being between a rock and a hard place is not a good place to be. That is
where the market is right now. We continue to have terrible news in the
housing sector. There is no general economic recovery as of yet. Jobless
claims continue to mount, while net new jobs are not being created in a
significant enough number to even sustain the population growth
(approximately 150,000 net new jobs per month needed). By far the majority
of economic reports for May, June, July, and now August, have been worse
than forecast. That includes home starts, home sales, home-builder
confidence, retail sales, auto sales, consumer confidence, durable goods
orders, manufacturing, jobs, etc. Yet the market rallies or barely goes down
on these bad reports. What gives? It seems that bad news is good news
right now…
Social Security in the red this year Washington Times | Meanwhile President
Obama’s health care overhaul has given Medicare’s basic Hospital
Insurance an extra 12 years of financial stability, though it did not
solve all of the program’s long-term challenges.
U.S. Employers Shed Jobs WSJ | he U.S. economy shed more jobs than
expected in July while the unemployment rate held steady at 9.5%, a
further sign the economic recovery may be losing momentum.
Impoverished U.S. City Will Close Libraries Mob infested, pervasively
corrupt jersey’s most impoverished city will close all three branches
of its public library at year’s end unless a rescue can be pulled off.
Camden’s library board says the libraries won’t be able to afford to
stay open past Dec. 31 because of budget cuts from the city
government. The city had its subsidy from the state cut.
IRS To Withhold Indicator That Shows Refunds Owed To Taxpayers Think

of all the budget savings from the ever increasing lack of
transparency.
Visualize Your State’s Financial Collapse Better Than Ever Just because
wishing away local and state financial collapse doesn’t work quite as
well as it does at the Federal level (courtesy of everyone’s favorite
printer genie), attached is a terrific interactive chart.
Stepping Aside Because I Can Always Buy Back In Leigh Drogen ‘I sold
out of everything this morning, for a few reasons…First, breakouts don’t
always work and momentum stocks have a habit of ending their trends
abruptly.
Second, …I can buy back in this afternoon if I change my mind (not likely). I
see more risk to the downside here than I do to the upside. …Third, the
jobs number tomorrow scares me. No, it doesn’t matter what the number is,
we all know it’s going to be bad, what matters is how the market reacts,
and I have the feel it’s not going to be good. Fourth, many of my oscillators
are overbought here.Fifth, and finally, I don’t like the fact that this rally has
primarily taken place on the back of the most beaten down sectors. …It all
just doesn’t pass the smell test for me. I’ve been successful at this not
because I’m always right, but because I know when I’m wrong and I’m
willing to change course or step aside. Right now, I’ll step aside.’
Were Unemployment Claims Really So 'Unexpected'?
Food stamp use hit record 40.8m in May The number of Americans who
are receiving food stamps rose to a record 40.8 million in May as the
jobless rate hovered near a 27-year high, the government reported
yesterday.
Journalists Still Hiding Obama’s Broken Promises on Jobs On Aug. 6,
everyone’s attention will be fixed on the release of July’s
unemployment numbers. The national unemployment rate is forecast
to increase to 9.6 percent, according to Bloomberg News’ survey.
Gold Alternative To Debt and Market Manipulation The Keynesians are on

the edge of implementing more quantitative easing (QE) as we
predicted they would.
11 Reasons Why The Federal Reserve Is Bad Millions of Americans are

waking up to the fact that the Federal Reserve is bad, but very few of
them can coherently explain why this is true.
WE’RE UNDERESTIMATING THE BEARISH POTENTIAL Simon Maierhofer,

August 3, 2010
’… Will Anything Stop the Market? Something Did
… At the same time, the April numbers were lowered the second time by an
additional 24,000 units, while May sales were revised lower by 33,000 units.
To summarize, April and May sales were reduced by 57,000 units.
Therefore, June sales were 24% above May sales. By the way, May sales
were the lowest on record…
Treasury Secretary Timothy Geithner: Unemployment Could Go Up Before

It Comes Down [Ooooh! Sounds like a plan ‘tiny tim’! … God bless us
everyone! ] Treasury Secretary Timothy Geithner acknowledged that it
is still a “tough economy” for most Americans, and warned it’s
possible the unemployment rate will go up for a couple of months
before it comes down as more people enter the labor force.
China Officially Enters The Gold Market: Full Release Of PBoC’s Plan To
Expand And Develop China’s Gold Infrastructure The moment many
gold bulls have been waiting for – the Chinese Central Bank has just
released a directive informing everyone it is commencing the
development of a healthy gold market.
The Dollar Continues To Fall Like A Knife, As Euro Breaks Well Above
$1.32 Another violent change of direction from what we’ve come to
expect from the euro and the dollar.
22 Statistics About America’s Coming Pension Crisis That Will Make You
Lose Sleep At Night As the first of the 80 million Baby Boomers have
begun to retire, it has become increasingly apparent that the United
States is facing a pension crisis of unprecedented magnitude.
Americans who swap passports London Telegraph | At the US Embassy in
London, there is a waiting list that none of the officials likes to
discuss. At the US Embassy in London, there is a waiting list that
none of the officials likes to discuss. On the list are Americans hoping
to give up their citizenship… (sure sign of insanity … I mean,
Orwellian england of all places?)
Temporary Firehouse Closures Begin In Philadelphia CBS 3 | The city of

Philadelphia has started temporarily closing fire stations in order to
balance its budget.
Layoffs to gut East St. Louis police force St. Louis Dispatch | East St. Louis
will layoff 37 employees, including 19 of its 62 police officers.
Come on! Who are they kidding? All the data was bad, and that ‘not bad as
expected dog don’t hunt anymore’!
They’re losing their minds in china:

Silicon Alley Insider: ‘… The first big economic news of the week was
the Chinese PMI which indicated that Chinese manufacturing was
inching ever closer to contraction. But contrary to the expectations of
some, it did not spook investors. In fact, Asia had a very big night,
with Shanghai gaining about 1.3% …’;
europe:
the basket-case eu economy, with obfuscation taken directly out of
the fraudulent wall street playbook including fake stress tests, saw air
ball stock rally based on earnings data long ago discounted;
u.s.:
We already know they’re criminally insane on wall street! Yahoo: ‘…
The mood improved further still after the ISM Manufacturing Index for
July came in at 55.5. That may have marked a pullback from the 56.2
of June, but it exceeded the 54.2 that had been widely expected ...’
Oh, yeah … there’s also the higher oil prices, ever more worthless Weimar
dollar part of the rally, and so on!
This is an especially great opportunity to sell / take profits since there is

much worse to come!
Warning Signs Suggest Market Headed for Another Collapse … One can
find no shortage of fundamental or mechanical theories explaining what
might form the basis of a future financial collapse published at Zero Hedge,
by Nassim Nicholas Taleb, Nouriel Roubini or Karl Denninger. In fact, I buy
into a lot of the evidence presented by these sources, and believe that one
gains a better grasp of financial reality spending 10 minutes with Zero
Hedge than spending 2 weeks listening to the mainstream financial media.
It is laughable to compare the vacant drivel coming out of Dennis Kneale to
even one single article published by Tyler Durden or Ryan Iskander…
1. HEAD & SHOULDERS ON THE S&P 500, DOW JONES, AND NASDAQ …
2. BULLISH FLAG ON THE VIX? We can’t have a massive spike in volatility

without a coinciding collapse in the equity markets …
3. THE DEATH-CROSS ON THE S&P SUGGESTS THE 2009 TO 2010 RALLY

MIGHT BE OVER
4. THE VOLUMELESS RALLY & MUTUAL FUND OUTFLOWS

…
5. 1,000 POINT FLASH CRASHES

…
6. BOND MARKET DISTRUSTFUL OF THE RALLY

…
7. MARKET LEADERSHIP IS WEAKENING

[chart] … ‘
INSIDER TRANSACTIONS (Washington Post) This is a global depression.

the latest.
Between 2010 and 2012
Why Must The Media Keep Trotting Out Senile Incompetent greenspun And
His Economic Lunacy? …and we continue to talk ourselves off the
edge of the cliff. For the second week in a row Meet The Press trotted
out the most financially incompetent of the financially incompetent
and placed them on their undeserving pedestal.
Key Components Of America’s Military Are Now Dominated By A Chinese

Monopoly Most of America’s key military technologies require rare
earth elements, whose production China holds a near-monopoly over.
alan greenspan: “The Financial System Is Broke” We will be in deflation

until the broke financial system becomes unbroke… and then we will
have hyperinflation. [Little bit late to be talkin’ the obvious truth!]
Trying to make August less of a 'dog' with sidewalk sale (Washington Post)
Sounds like a new, new plan to deal with the overwhelming success of
the panoply of government stimulus / tarp, etc., plans ‘financed’ with
money they don’t have and taxpayer ‘largesse’. For those who’ve lived
long enough, they’re waiting for the apple carts.
Did TARP work? Two economists say yes. (Washington Post) Come on! What
do you expect them to say? They’re invested in that position having
supported same despite the massive fraud for prosecution and
disgorgement was appropriate. Indeed, moody’s itself has been
faulted (liable?) for lax valuation / rating standards which contributed
to the debacle. Moreover, these ‘cheerleaders’ can always be counted
on to toe the network line which ultimately enables the ubiquitous
frauds we’ve seen. Amazingly, senile incompetent greenspun, co-
architect / enabler of the fraud / debacle was interviewed and used
such words in conjunction as ‘modest recovery, pause, double-dip
possible, quasi recession’. What total b***s***!
Are the American people obsolete? Salon | The richest few don’t need the
rest of us as markets, soldiers or police anymore. Maybe we should all
emigrate.
What's coming this week (Washington Post) How ‘bout last week and the new
american economic institution colloquially now known as ‘bank failure
Friday’ (the news dump so as to avoid the so-called ‘news cycle’). Then,
let’s hope for real rather than election-year market frothing fake / false /
manipulated data.
U.S. bank failures total 108 after 5 shut on Friday U.S. bank failures reached
108 so far in 2010 on Friday as regulators seized five small banks in
the Pacific Northwest and the Southeast, none publicly traded.
Foreclosures Continue To Dramatically Increase In 2010 Economic Collapse

| RealtyTrac says that unemployment has become the major reason
for foreclosures. In a very alarming sign for the U.S. economy,
foreclosures have continued to dramatically increase in 2010. But
there has been a shift.
U.S. recovery hopes fade as economic growth dips Washington Post | The
recovery is fading, and a troubling new pattern is setting in: economic
growth that is too slow to put Americans back to work. The recovery
is fading, and a troubling new pattern is setting in: economic growth
that is too slow to put Americans back to work.
Ron Paul Goes After The SEC’s FOIA Exclusivity, Introduces SEC
Transparency Act What is unclear is whether the Ron Paul law
prohibts SEC staffers to spend 40 hours per week to browse porn on
the taxpayer’s dime.
U.S. recovery hopes fade as economic growth dips The recovery is fading,
and a troubling new pattern is setting in: economic growth that is too
slow to put americans back to work.
Stocks' Late Push: Some Optimism, Some Pessimism [Late push … as in a

constipated bowel movement … Come on! Another one of those push the
computer programmed trade button and off we go, reality / valuation /
economics be damned. In real security analysis (very simplified /
summarized), as opposed to the continued frauds on wall street, one must
begin with the largest and most significant aggregate (a simple word
picture / analogy: ‘rising tide lifts all boats’). If you get this right, the
probabilities in your favor are substantially enhanced. From there, you
want leading industries, and leading companies within said leading
industries (again, larger aggregates then picks, to enhance probabilities,
not guarantees, in your favor). Your time frame, 1-3-5 yrs tops for
projections, (including income statement/EPS, balance sheet, and applying
an appropriate P/E – a detailed, multi-faceted approach beyond what could
be described in this summary); and, that’s all they are, projections. Beyond
that time frame, your guess. On fraudulent wall street, every day, though
already discounted in large part (6-8 mos, approx.), the market spins,
churns, and with lightning fast computerized high-frequency trade
programs commissions in huge volumes like no other time in financial
history when real valuation meant something, with no net economic value
added, but very lucrative to the frauds on wall street, which ultimately is a
net detriment to the economy / the nation /and other industries as we’ve
seen and as described elsewhere on this site and in these posts
http://albertpeia.com . Preposterously, they even sometimes refer to
seasonal factors as if hearing them for the first time and ‘explaining’ an up
move (almost invariably already discounted). Today, they shrugged off the
deepening economic reality despite the election year frothing /
manipulations. This is a global depression. This is a secular bear market in
a global depression. The past up move was a manipulated bull (s***) cycle
in a secular bear market. This has been a typically manipulated bubble as
has preceded the prior crashes with great regularity that the wall street
frauds and insiders commission and sell into. This is a typical wall street
churn and earn pass the hot potato scam / fraud as in prior crashes’. This
Slowing economic rebound raises unemployment fears (AP) [Wow! Talk

about understatements!]
China Becomes Second Biggest World Economy China has overtaken

Japan to become the world’s second-largest economy, the fruit of
three decades of rapid growth that has lifted hundreds of millions of
people out of poverty.
Hank Paulson Wants To Fix Fannie And Freddie By… Recreating Fannie
And Freddie Former Treasury Secretary, Goldman Sachs CEO, and
bailout architect Hank Paulson has a bit of a head-scratcher of an op-
ed in the Washington Post this evening all about charting a course for
sustainable housing policy in the US.
Marc Faber Questions if Dow Could Hit 1,000 In the August edition of the
‘The Gloom, Boom & Doom Report’ Marc Faber questions whether the Dow
could hit 1,000 as predicted by Robert Prechter, based on his interpretation
of Elliot Waves, Fibonacci numbers and socioeconomic trends. Prechter,
who has written 13 books on finance (external link), believes that the stock
market is historically overvalued in terms of dividends and earnings,
because of a “great rise in positive social mood.” But the mood changed in
2000 and the “trend toward negative social mood will lead to an economic
contraction,” according to Prechter. “Small bear markets lead to
recessions, big bear markets lead to depressions. The current bear market
will be the biggest in nearly 300 years, so the depression will be
correspondingly deep,” Prechter said.
The International Money Changers Reward the Euro for Forcing Austerity
Activist Post | The growing noise for “solutions” to America’s very real
debt problems is becoming louder as the calls for confiscating Social
Security and Pensions are now everyday news.
Wall St falls after weak outlooks drag (Reuters) U.S. stocks sagged in
volatile trading on Thursday after weak outlooks from technology
companies and downbeat comments from a Federal Reserve official gave
investors little reason to buy.
US Treasury is running on fumes The White House is screaming like a

stuck pig. WikiLeaks’ release of the Afghan War Documents “puts the
lives of our soldiers and our coalition partners at risk.”
Trillions for Wall Street Mike Whitney | The bottom line? When Wall Street is
hurting, money’s never a problem.
Look What Surprises They Snuck Into The Financial Reform Bill The
Economic Collapse | The financial reform bill was supposed to “fix”
Wall Street and the financial system, but it did not do much of
anything. Even just a decade ago, major pieces of legislation in the
U.S. Congress would be just a few dozen pages long. But today, it
seems like every time Congress passes an important bill it ends up
being over a thousand pages long.
Cash-starved California orders unpaid leave for workers California

Governor Arnold Schwarzenegger declared a fiscal state of
emergency Wednesday, requiring most state employees to take three
days of unpaid leave per month until a new budget is enacted.
The Obama Administration Tries To Propagandize Its Way To An Economic

Recovery Yesterday we noted how, absurdly, The White House blog
was trumpeting a new cheap housing program as part of its recovery
efforts.
Fed says some districts report slowing economy (Reuters)
Flaws of the European Stress Test … 'Bank stress test' became the magic
phrase. Nothing calms fear like a stress test that's labeled as rigorous. The
stress test raises a few very obvious questions: 1) Will it work? 2) Why was
it needed in addition to a $1 trillion aid package? 3) Is the stress test just a
gimmick to appease investors? The stress test is conducted by the
London-based Committee of European Banking Supervisors (CEBS).
Ironically, the test has ignored the majority of banks' holdings of sovereign
debt. Sovereign debt concerns by the so-called PIGS countries (Portugal,
Italy, Greece, and Spain) triggered the latest wave of financial problems.
Ignoring sovereign debt in the Euro stress test would be like ignoring toxic
real estate assets in the U.S. 10% Good - 90% Bad According to a Morgan
Stanley survey, European banks hold about 90% of their Greek government
bonds in their banking books and 10% in their trading books. The bonds in
the banking book are generally held until maturity, the bonds in the trading
book are traded more frequently. According to a document obtained by
Bloomberg, the stress test assumes a loss of 23.1% on Greek debt, 14% on
Portuguese bonds, 12.3% on Spanish debt, 4.7% on German debt, 10% on
U.K. debt, and 5.9% on French debt. However, the stress test only looks at
the bonds held in banks' trading books, which account for a mere 10% of
Greek bond holdings. Can that be called a stress test? Nouriel Roubini
says that 'the assumptions made about economic growth, about sovereign
risk are not realistic enough.' The fact that only seven banks failed the test
with a combined shortfall of $4.5 billion confirms the lax nature of the test.
… The U.S. Bank Stress Test - A Nice Façade A closer look under the hood
of the U.S. bank stress test, however, shows that there's not much
substance behind the facade either. It was determined that the 19 tested
U.S. banks need to increase their balance sheets by $75 billion to meet the
conditions of what's termed the 'worst case scenario.' To a large extent, the
$75 billion of additional capital was financially engineered. Banks didn't
have to actually raise $75 billion. They were able to change the label of
some of their assets on their balance sheets. The government supported
this practice via mandatory convertible preferred shares (detailed analysis
in May 2009 issue of the ETF Profit Strategy Newsletter) …’
SEC Says New FinReg Law Exempts It From Public Disclosure So much
for transparency.
Regulatory Magic President Obama has signed the financial industry

regulatory overhaul — officially, the Dodd-Frank Wall Street Reform
and Consumer Protection Act. Predictably, what he said about it
cannot possibly be true.
Jim Rogers Calls CNBC A Market PR Agency Whose Sole Purpose Is To
Make Stocks Go Higher A “cheeky” Jim Rogers appeared earlier on
CNBC Europe (which incidentally is orders of magnitude better than
its US equivalent), and confirmed the depths to which the once
relevant and informative TV station has now fallen.
Flashback: Bush report: Sending jobs overseas helps U.S. The movement
of American factory jobs and white-collar work to other countries is
part of a positive transformation that will enrich the U.S. economy
over time, even if it causes short-term pain and dislocation, the Bush
administration said yesterday.
Smoking Guns of U.S. Treasury Monetization Kitco | A significant feature of

fiat money systems is the privilege for the custodian of the reserve
currency to engage in regular practices of ham-fisted monetary
management.
Banking Disaster Largely Ignored By Mainstream Media Greg Hunter | It is

amazing to me how little time the mainstream media is spending on
this unfolding financial disaster and how much time it is devoting to
things like Mel Gibson’s domestic problems.
Moody's: Regional banks on review for downgrade (AP)
Consumer confidence dims (Reuters) Job worries drove July U.S.

consumer confidence to its lowest since February, with one in six people
expecting lower income in the next six months, underscoring the
precarious state of econo...
Global steelmakers paint gloomy picture (Reuters)
State budget gaps total $84 billion: study
Another Recession Due Circa 2012: Jim Rogers A new recession would be
due around 2012 but central banks will not be able to throw cash at it
anymore, Jim Rogers, chairman of Rogers Holdings, told CNBC
Tuesday.
Marc Faber: Relax, This Will Hurt A Lot Marc Faber closed out this week’s
Agora Financial Symposium with a speech that pretty much
recapitulated the view that the end of the world is if not nigh, then
surely tremendous dislocations to the existing socio-political and
economic landscape are about to take place (with some very dire
consequences for the US).
The Continuing Crisis in the New World Order LewRockwell.com | The crisis
continues in the new world financial order with no end in sight and no
real solution being put forth.
China Calls Our Bluff: “The US is Insolvent and Faces Bankruptcy as a

Pure Debtor Nation but [U.S.] Rating Agencies Still Give it High
Rankings” America’s biggest creditor – China – has called our bluff.
US bank failures in 2010 surpass 100 WASHINGTON (AP) -- U.S. bank

failures this year have surpassed a bleak milestone of 100 as regulators
shut down banks in Georgia, Florida, South Carolina, Kansas, Nevada and
Minnesota. The six bank seizures announced Friday bring to 102 the
failures so far in 2010. The pace of bank closures this year is well ahead of
that of last year, which saw a total 140 bank shuttered amid the recession
and mounting loan defaults …
On the Disconnect Between the Market and the Economy Michael

Shulman:
• The index of leading economic indicators fell 0.2% in June, the

second drop in three months. A negative surprise.
• Unemployment claims rose to 464,000, more than expected.
• Uncle Ben said we are facing a period of “unusual uncertainty.” No

kidding.
• Uncle Ben said we need continuing stimulus to a Congress unwilling

to stimulate anyone or anything other than lobbyists with cash to
contribute.
• Home sales fell 5.1% in June…’
(No recession helicopter ben) Bernanke Admits Major Policy Failures;

Stocks Soar Darryl Montgomery What's wrong with this picture? In his bi-
annual testimony before Congress yesterday, Fed Chair Ben Bernanke
admitted that after more than a year and a half of zero interest rates and $3
trillion in federal deficit spending since 2008, the best case scenario for the
U.S. economy is slow growth and high unemployment. The S&P 500 is up
2.5% so far this morning on this 'good' news. Bernanke's congressional
testimony included the following statements (emphasis added by me):
"Most [FOMC] participants viewed uncertainty
about the outlook for growth and unemployment
as greater than normal, and the majority saw [at
the June Fed meeting] the risks to growth as
weighted to the downside."
"Financial conditions--though much improved

since the depth of the financial crisis--have
become less supportive of economic growth in
recent months."
"Many banks continue to have a large volume of

troubled loans on their books, and bank lending
standards remain tight. With credit demand weak
and with banks writing down problem credits,
bank loans outstanding have continued to
contract."
"After two years of job losses, private payrolls

expanded at an average of about 100,000 per
month during the first half of this year, a pace
insufficient to reduce the unemployment rate
materially. In all likelihood, a significant amount of
time will be required to restore the nearly 8-1/2
million jobs that were lost over 2008 and 2009."…
Serious Analysis has given rise to a realistically mocking view of the

current fraud on wall street:
The Markets & The 'Teen Drama Economy' Jonathan Cheng If the market’s
mood swings these days are reminding you of high school, you’re
not alone ...
NATIONAL / WORLD
For Obama, some chances ahead (Washington Post) [ Come on! Wake up!
There are no chances ahead for wobama’s already failed presidency!
He knows it, the people know it, and even his most ardent blind
supporters know it. One too many b*** s*** stories and broken
(campaign) promises. Delivering a speech, albeit teleprompted, is a far
cry from delivering, which reality most have awaken to. He seems to
be incapable of even one original thought even as the wobamas seem
to take umbrage as they are dissed for self-created lack of
approbation ($500 sneakers, spain trip, fiddling while the nation
burns, etc.). What next? The race card? Even as his (in)justice
department had decided to ignore civil rights violations by blacks and
focus only on whites? No! wobama’s failed presidency is as done as
an over-cooked hard-boiled egg. Empty words just ain’t enough! ] New
Orleans visit, Iraq speech offer president opportunities to help end a
frustrating summer.




February 11, 2009

Bombshell: Barack Obama conclusively outed as CIA creation Wayne
Madsen | Investigative journalist Wayne Madsen has discovered CIA
files that document the agency’s connections to the lives of Barack
Obama and his mother, father, grandmother, and stepfather.


Constitution “Silly Stuff,” Says Illinois Congressman Democratic

Congressman Phil Hare, who caused outrage earlier this year when he
told constituents who asked him about the legality of the health care
bill, “I don’t worry about the constitution,” has sparked fresh
consternation after he was caught on camera in an Illinois hotel
labeling the founding document of America “silly stuff”.



when.
Ehrlich and Holdren: Death “Reasonable Price to Pay” for Well-being of

Society Jurriaan Maessen | The head-hunters of the scientific
dictatorship are not simply powerless psychopaths exchanging
abstract ideas.
US-Vietnam Military Drills Crank Up Tensions With China The U.S. Navy
just began military exercises with Vietnam in the South China Sea and
China, which had in the past been more accepting of the U.S.’ naval
power in the region, is now showing its anger, according to The Asia
Times.
Poll: ‘No’ to US wars at all time high A new opinion poll says the number of
Americans opposed to the US wars in Afghanistan and Iraq is at an all
time high.
Ground Zero Mosque Imam Is Globalist Stooge Steve Watson | CFR
member receives financial backing from who’s who of global
corporate elite.
Alex Jones and MSNBC’s Hit Piece: The Lost Footage Infowars.com | The
“rest of the story” found its way on YouTube and Alex Jones’
Facebook page.
Two Films That Blew Bilderberg Wide Open Paul Joseph Watson | Fidel
Castro’s spotlight on the Bilderberg clique is part of a global
awakening to the new world order.
Zionist Lobby Paid Off U.S. Journalists To Sell Israeli Foreign Policy Paul
Joseph Watson | Declassified documents take on deeper significance
in light of Jeffrey Goldberg and The Atlantic Monthly’s efforts to
propagandize for an attack on Iran.
The Ground Zero Mosque and Property Rights Kurt Nimmo | The issue is
not terrorism or 9/11, but the sanctity of the individual and his
property.
Orwell in charge? Kucinich compares Iraq ‘exit’ to Bush’s ‘Mission

Accomplished’ “Who is in charge of our operations in Iraq , now?
George Orwell? A war based on lies continues to be a war based on
lies. Today, we have a war that is not a war, with combat troops who
are not combat troops. In 2003, President Bush said ‘ Mission
Accomplished ‘ . In 2010, the White House says combat operations are
over in Iraq , but will leave 50,000 troops, many of whom will inevitably
be involved in combat-related activities.
High-tech carts will tell on Cleveland residents who don’t recycle … and
they face $100 fine The chips will allow city workers to monitor how
often residents roll carts to the curb for collection. If a chip show a
recyclable cart hasn’t been brought to the curb in weeks, a trash
supervisor will sort through the trash for recyclables.
Zionist Lobby Paid Off U.S. Journalists To Sell Israeli Foreign Policy Newly
declassified documents highlighting how the Israeli lobby routinely
paid off journalists in the U.S. corporate media to write pro-Zionist
propaganda in support of Israeli aggression against Palestine and Iran
during the 60’s have taken on new significance after the Atlantic
Monthly, which is named in the documents as being complicit in the
bribing scandal, recently published a cover story hyping the necessity
and inevitability of an Israeli attack on Iran.
CIA Launches “Counterproliferation Center” as Iran Attack Rhetoric Kicks

Into High Gear Kurt Nimmo | CIA will peddle propaganda required to
sell the increasingly irrelevant American people future wars.
Ron Paul: The American Empire Can’t Afford Another War Infowars.com |
Alex welcomes back Congressman Ron Paul to the show to discuss
the latest on Iran, legislation in the house, and more.
Air Force Issues Memo Warning Soldiers, Employees Not to Read

WikiLeaks Docs Kurt Nimmo | Memo confirms that the Pentagon is
monitoring web activity of its soldiers and employees.
9/11 Heroes Blast Obama: Forget The Mosque, We’re Dying Hero 9/11 first
responders, many of whom are sick and dying, have slammed Obama
in an open letter for ignoring their plight while taking the time to
outline views on a proposed mosque close to ground zero, the site of
the 2001 attacks that felled the twin towers.
Chaos Erupts in California as Over-Taxed Residents Express Outrage The

city of Bell, CA has recently been exposed for having corrupt and
overpaid city officials receiving salaries larger than the President of
the United States. Residents who have recently learned they were
over-taxed to pay for the government workers took control of a City
Council meeting and demanded resignations.
China Reacts Angrily To Pentagon Report Beijing reacted angrily

Wednesday to a Pentagon report expressing worries about China’s
burgeoning military capabilities, calling such concerns baseless.
In Supporting The Ground Zero Mosque, Barack Obama Falls On His Sword
[ I really wasn’t inclined to comment on this because it’s just not that
big a deal except as to exceedingly small minds. However, I feel I must
say that if the jewish Mayor of NYC who is certainly no slouch and
really knows how to count thinks it’s ok, then it’s OK. Period! ] With
President barack obama’s political dynasty already on life support, his
decision to publicly back the hugely unpopular building of a Muslim
mosque near Ground Zero confirms that Obama, or rather the
advisors that pull his strings, have decided to commit political suicide
and cut him loose from the Washington power structure, with the
hope of fooling Americans with another establishment Republican as
a legitimate alternative in 2012.
Former Pakistani Intel Chief Fears World War Three Is Imminent Former
Pakistani General and intelligence chief Hamid Gul appeared on the
Alex Jones Show yesterday for a full hour in what turned out to be a
fascinating extended interview, addressing the major geopolitical
issues that are shaping modern history.
Neocon Bolton Renews Call for Israel to Bomb Iran Last Friday the former
interim UN ambassador during the Bush administration went on Fox
News and warned that if Israel did not conduct a bombing raid against
Iran’s nuclear energy program within a few days, the window of
opportunity would be lost. Bolton made his comment following a
report last week that Russia will begin loading nuclear fuel at Iran’s
Bushehr reactor on July 21.
Google search: ‘bolton, neocon, mental problems’ About 143,000
results (0.37 seconds)
Here’s the first of many pages. Yeah … he’s that bad / psychotic!
 Think Progress » John Bolton jokes about nuking Chicago,
entire ...
Feb 26, 2009 ... Bolton, the NEOCON gift that keeps on giving the
Repuglycans zero ... The problem with McCain was this. As a veteran and a
POW he get's high marks. ..... to get some treatment at the closest mental
health facility. ...
thinkprogress.org/2009/02/26/bolton-nukes-chicago/ - Cached - Similar
 Think Progress » Even After North Korea Frees American Journalists ...
Aug 4, 2009 ... Bolton, like all neocons, doesn't understand that there is .....
Of course, we all know it was BUSH who caused the problem in the first
place, right? .... they view the world in the light of their own mental
disorder, ...
thinkprogress.org/2009/08/.../bolton-north-korea-journalists/ - Cached -
Similar
Show more results from thinkprogress.org
 Breaking: Neocon John Bolton Names Dick Cheney "Conservative Of ...
Dec 21, 2009 ... Re: Breaking: Neocon John Bolton Names Dick Cheney
"Conservati ... republicanism/conservatism is a mental illness that is killing
America and ... Problem is one side will shamelessly try and stack the deck
in their favor ...
crooksandliars.com › Blogs › Logan Murphy's blog - Cached - Similar
 John Bolton's Astonishing Neo-Neo-con Rewrite of History ...
Apr 17, 2007 ... On March 25, John Bolton was interviewed by BBC
Newsnight's Jeremy Paxman (video here). ... I think the real problem was in
not relying more on Iraqis. .... BTW, a mental giant, you are not. The best
thing to happen to ...
www.democrats.com › Blogs › Bob Fertik's blog - Cached
 Bolton suggests nuclear attack on Iran « LobeLog.com
Bolton and his neo-con crazies aren't setting the agenda anymore, ... And I
do not mean the mental condition of Mr Bolton and his fellow neocons. ...
www.lobelog.com/bolton-suggests-nuclear-attack-on-iran/ - Cached -
Similar
 Don't Hold Your Breath, Ambassador Bolton - Atlas Shrugs
May 26, 2009 ... It's a special kind of mental illness. ... Bolton has been
derided as "the neocon's neocon" who "laps up the hosannas of fellow ...
atlasshrugs2000.typepad.com/.../dont-hold-your-breath-ambassador-
bolton.html - Cached
 The BRAD BLOG : The Fall of the NeoCons: Bye Bye Bolton
Dec 4, 2006 ... Clyburn: E-Vote 'Hacked'; Rawl: 'Systemic Software

Problems' .... Add 'The Fall of the NeoCons: Bye Bye Bolton' to Del.icio ·
Add 'The ... The Army's Lack of Mental Health Treatment for Returning
Troops" NEXT STORY » ...
www.bradblog.com/?p=3873 - Cached
 Ambassador John Bolton: Israel Has 8 Day Deadline to Attack Iran ...
30 posts - 4 authors - Last post: 21 hours ago

"Religion is science for the mental ill" - Myself ... John Bolton is a Bush
neo con,,, obviously broke and needing the money. ...
www.godlikeproductions.com/forum1/message1163684/pg2
 [World Wide News Flash] Bolton
New article on darkpolitricks: Neocon Bolton Renews Call for Israel to

Bomb Iran http: darkpoltweeter (Dark Politricks RT): New article on
darkpolitricks: ...
www.wwnewsflash.com/bolton
 [PDF]
The Neocon Factor in - The Zealots of Dominance: The Neocon Factor ...
File Format: PDF/Adobe Acrobat - Quick View

a sweeping diagnosis, it's clear that mental health has been a problem
within ...... Neocon icon John Bolton, Bush's abrasive former Ambassador
to the UN, ...
www.sf911truth.org/neocons.pdf
Ban Ki-moon’s Top Advisor: Scientific Elite Should Spearhead Global

Population Control “The fertility reduction and stabilization of
population is crucial. He (Sachs) concluded by urging for the adoption
of a globally agreed action plan at next year’s Summit to achieve the
MDGs by 2015, and proposed to form Working Groups with members
of the delegations around particular themes. He characterized this
effort as not negotiation, but as global problem solving and suggested
that the Working Groups would brainstorm on the globally agreed
plan.”
Obama, the one-term president [ The fact is, as I’ve previously commented,
he’s ok with and has already accepted his one-term ‘being there’ failed
presidency which explains his huge divergence from his promised
change, among other promises and the false expectations he created
thereby. He lacks courage, of course; but that’s become so typically
american and he’s very typical. ] Q: Will Barack Obama be a one-term
president? A: Yes, he might last that long.
Dreaded Hindenburg Omen Will Play Out Within 4 Weeks UBS Financial
Services Director Art Cashin says that we’ll know within 3 or 4 weeks
whether the dreaded Hindenburg Omen, a set of market factors that
precede a stock market collapse, will unfold as many are now
predicting.
Desperately Seeking Accommodation: Iran Offers U.S. Chance to Build

Nuclear Power Plants Kurt Nimmo | It is extremely unlikely the U.S.
take Iran up on the offer.

died Paul Craig Roberts | The bought-and-paid-for-economists got all
the media forums for a decade. While they lied, the US economy died.
Former Pakistani Intel Chief Fears World War Three Is Imminent Steve
Watson | General Hamid Gul points to “dark impulse” controlling US
system.
Obama: All In The Company Wayne Madsen | CIA connected to institutions
and individuals figuring prominently in the lives of Barack Obama, his
mother, father, grandmother, and stepfather.
Exposing World Government: United We Fall Documentary Now Featured

on Prison Planet.tv Kurt Nimmo | United We Fall breaks down the
North American Union and how “free trade” agreements between the
United States, Canada, and Mexico are impoverishing people and
stripping away national sovereignty.
The Ecstasy of Empire Paul Craig Roberts | Without a revolution, americans

are history.
Rand Paul Slams Obama: Stop Forcing Big Government Down Our Throats
Steve Watson | Kentucky Senate candidate Rand Paul made an
impassioned speech this weekend slamming the actions of the Obama
administration for continuing a big government agenda at the expense
of the American people.
Hal Turner Betrayed and Burned by Government He Served Kurt Nimmo |

The case of Hal Turner should serve as a warning to those
considering cooperating with the government.
Internet Kill Switch Bill Moves Closer To Senate Vote An Internet kill switch
bill that would give President Obama the power to shut down parts of
the world wide web for a period of at least four months without
congressional oversight has moved closer to a Senate vote, with one
of its primary advocates, Democratic co-chairman of the House
Cybersecurity Caucus Jim Langevin, threatening a “cyber-9/11″ if the
legislation is not quickly passed.
Exposing World Government: United We Fall Documentary Now Featured
on Prison Planet.tv United We Fall, a documentary by Bryan Law and
Dan Dicks, breaks down the North American Union and how “free
trade” agreements between the United States, Canada, and Mexico are
impoverishing people and stripping away national sovereignty.
Rand Paul Slams Obama: Stop Forcing Big Government Down Our Throats
Kentucky Senate candidate Rand Paul made an impassioned speech
this weekend slamming the actions of the Obama administration for
continuing a big government agenda at the expense of the interests of
the American people.
AT&T claims net neutrality is oppressive US TELECOM AT&T has come out
in support of Google’s contention that wireless communications are
different than wireline Internet services.
Government Using Google Earth To Loot Destitute Americans Aerial

imaging technology is being used by the government to spy on
Americans in an effort to collect revenue and enforce ordinances on
swimming pools without safety certificates, junk cars being stored
without permission, unlicensed porches, and a myriad of other petty
transgressions that the state is feeding off in complete violation of the
Fourth Amendment to suck citizens dry of whatever income they have
left after being looted of trillions of dollars in wealth that the state has
transferred to foreign banks.
On Facebook: Israeli soldier posed with bound Arab (AP)
Blair | Capital controls are the next big event in the government-
banking-oligarchy’s great looting of America.
Military Industrial Complex: Of 158 retired generals advising wars, 80% tied
to defense industry; 29 are defense CEOs USA Today | Of the 158
retired generals and admirals identified as mentors, 80% had financial
ties to defense contractor; 29 were company executives.
Cybersecurity Lie Exposed: Power Plants Are Not Connected To The

Internet Senator Joe Lieberman’s draconian Internet takeover
legislation, the 197-page Protecting Cyberspace as a National Asset
Act, is being promoted as a vital tool to protect vulnerable
infrastructure hubs from terrorist attacks, but as a recent Wall Street
Journal report makes clear, large industrial power and water plants
are not even connected to the public Internet.
Vegetable zionist Zelig joe lieberman’s Model For America: Purging The
Internet of Dissent When political Zelig joe lieberman attempted to
justify draconian legislation that would provide President Obama with
a figurative kill switch to shut down parts of the Internet, he cited the
Chinese system of Internet policing as model which america should
move towards
Obama Approval Rating Revisits Rock Bottom Despite Positive Media Spin
Despite positive corporate media spin amidst a cacophony of criticism
from both sides of the political spectrum, Barack Obama’s approval
rating matched its record low today according to Rasmussen Reports.

Already Knew A Congressional Oversight Panel issued today
highlights the fact that large portions of the Treasury’s $700 billion
bailout fund have gone straight into the coffers of foreign banks, a
fact that we knew months ago, but is only now being officially
recognised.
Activists Take On Fluoridated Water in Wichita Concerned citizens in

Wichita, Kansas, have informed that city’s public officials about a
poster campaign designed to inform the public about the health
hazards of water fluorination.
Illegal Immigrants Account for 8% of U.S. Newborns, Study Shows As many

as 340,000 of the 4.3 million babies born in the U.S. in 2008 had at
least one parent who was an illegal immigrant, according to a Pew
Hispanic Center study of Census Bureau data.
Infowars.com Poll: Attack On Iran Imminent Kurt Nimmo | Nearly 60%

of respondents to an Infowars.com poll believe the U.S and Israel will
attack Iran in the near future.
Activists Take On Fluoridated Water in Wichita Infowars.com |

Concerned citizens in Wichita, Kansas, have informed that city’s
public officials about a poster campaign designed to inform the public
about the health hazards of water fluorination.
point of no return.


America.
China focuses on military might (Washington Post) [And the big difference
here (between them and defacto bankrupt america) is that ‘THEY CAN
AFFORD IT’ and are not fighting nation-bankrupting, anti-american-
sentiment-creating wars all over the place.] Nation is quickly modernizing
forces, extending influence deep into Pacific and Indian oceans.
Karzai wants private security firms out of Afghanistan: KARZAI WANTS

COMPANIES OUT U.S. calls 4-month deadline 'very challenging'
(Washington Post) One too many civilian killed. Maybe they figured
out that american non-strategy employing the Hegelian methodology
of creating problems that American firms can solve. Doomed to
failure, they eventually catch on. The bushes were famed for same but
wobama has foolishly been no slouch in this regard.
Afghans still see U.S. as bad guy (Washington Post ) [Riiiiight! Sounds like
a plan … winning hearts and minds throughout the world … great for
exports also as such ‘won hearts and minds’ just love to buy american.]
American, NATO forces retain blame for civilian deaths despite spike from
insurgent violence.
U.S. looks to replicate Iraq strategy, tactics (Washington Post ) [Oh right!
Stick with that winning plan that worked so swimmingly (as in
drowning, in ie., debt, death, regional if not wordly anti-american
sentiment, etc.)]. In Kandahar, U.S. military officials hope that a secure
green zone, similar to the area in Baghdad, will make it more difficult
for Taliban insurgents to mount attacks to key buildings in the Afghan
city.
Google and Verizon DID do a deal for new internet ‘first class’
superhighway Technology giants Google and Verizon have today
paved the way for a future ‘two-tier’ internet in which companies can
pay extra to make sure their services get through. Google-Verizon
Pact: It Gets Worse [ Timothy Berners-Lee, putative father of the
internet along with Cerf, has already weighed in on this topic and
strenuously opposed same and whose learned opinion should be
given great weight. google and verizon as mere government shills at
best and government, ie., nsa / cia, etc., operatives at worst, are
‘johnny-come-latelies’ and died fast in government hands! ]. So
Google and Verizon went public today with their “policy framework”
— better known as the pact to end the Internet as we know it.
Iran Retaliates Against Sanctions: To Drop All Trade In “Filthy” Euro, Dollar
Yet another step in the escalation between Iran and the US came
earlier today.
The Cycle of Violence in Afghanistan Last week the National Bureau of

Economic Research published a report on the effect of civilian
casualties in Afghanistan and Iraq that confirmed what critics of our
foreign policy have been saying for years: the killing of civilians,
although unintentional, angers other civilians and prompts them to
seek revenge. This should be self-evident.

Street Action: Poison In Tap Water Fliers Went out on a beautiful Saturday
after noon in Edmonton Alberta posting more fliers, posters etc. had a
great time had a few people harass me but nothing big. Just gave me
motivation to do more!! Resistance is Victory. Never Forget that.!!
Wheat Crisis Threatens Inflationary Timebomb, Food Riots Russia’s ban on

wheat exports following widespread fires in the country sent food
prices skyrocketing by 19 per cent in just a single week as fears grow
that global volatility in foodstuffs and commodities could lead to a
worldwide inflationary timebomb accompanied by widespread food
riots.
The Obama presidency increasingly resembles a modern-day Ancien

Régime: extravagant and out of touch with the American people What
the great French historian Alexis de Tocqueville would make of
today’s Obama administration were he alive today is anyone’s guess.
The Coming Collapse of The U.S. Political Establishment The last U.S.
puppet regime to fall will be. . . the puppet regime in the White House.
Afghan war ‘kills 1,325 civilians this year’ More than 1,300 civilians have
been killed in Afghanistan so far this year, mostly by Taliban
insurgents, a leading Afghan rights group said Sunday.
Recession in U.S. Even Worse Than Estimated, Revisions Show The worst
U.S. recession since the 1930s was even deeper than previously
estimated, reflecting bigger slumps in consumer spending and
housing, according to revised figures.
Iran Unveils New Submarines and Makes More Persian Gulf Warnings Iran
announced the addition of four new submarines to its fleet Sunday,
saying the Iranian-manufactured vessels to be deployed in the Persian
Gulf have sonar-evading technology and can launch torpedoes and
missiles simultaneously.
March 10, 2004.
Fidel Castro: Obama can avert impending nuclear holocaust Miami Herald |
If Obama approves an attack on Iran, war will spread through the
Middle East and Asia and cause hundreds of millions of deaths,
Castro warned.
Who poses the real threat to the Internet? A new opinion piece on
CNN.com argues that it’s the government, not the companies
providing internet access, that is the real danger to free speech and
the internet. [I personally have found more often and prospectively
problematic is that said government / company distinction is one
without a difference when the government flexes muscle, particularly
with leverage as ie., to non-performing monopolist microsoft, nsa/cia
partner google (to a lesser extent at this juncture), cnn/timewarner
cable (incompetence also a factor), fedex, etc.].
Wow! Talk about stretchin’ it! Alleged by black shooter: prejudice

displayed by company as they fired thornton for stealing / selling the
company’s beer he was supposed to be delivering … The ultimate
race card … Riiiiight! You can’t make this stuff up! Fatal Shootings
Reponse: 'No One Died After Police Arrived On Scene' Hartford
Courant - As police on Friday concluded their on-scene investigation
into Tuesday's mass killing at Hartford Distributors, they also began
evaluating their response to the tragedy. Police arrest woman they
say accepted beer from Connecticut shooter CNN Omar Thornton 911
Call: "I Wish I Could Have Got More of the People" CBS News
Voters Reject Notion That “Government Can Do Anything It Likes” A

Rasmussen poll indicates that an overwhelming eighty-six percent
(86%) of voters nationwide say there should be “limits on what the
federal government can do”, in response to recent comments from
pro-Obamacare Congressman Pete Stark.
Swine Flu Investigator Jane Bürgermeister Faces Prison Now that there is
verifiable, unambiguous evidence that the Austrian government and
state prosecutors have faked criminal charges to provide a pretext to
arrest and detain me, I am going to apply to the European Court of
Human Rights.
U.S. Employers Shed Jobs The U.S. economy shed more jobs than
Gold Surges To Three Week High As Dollar Tanks Gold prices have surged
to to three week highs as the stock market and the U.S. economy
continue to flounder, leaving investors seeking a safe haven in hard
assets.
Globalists Race To Enforce Criminal Carbon Tax Despite the failure of last
year’s Copenhagen climate summit, the United Nations is pushing
ahead for a global carbon tax that will bankroll the expansion of world
government as globalists attempt to make Americans pay for the
evisceration of their own sovereinty and future prosperity.
Poison Tap Water Exposed As Soft Kill Weapon Water fluoridation has
come to refer to the addition of over 40 chemicals into the water
supply that synergistically come together to wreak havoc on the body
and its processes.
Fluoride Truth on Australian TV – Fluoride Retards the Brain TV NEWS

show exposes Fluoride for what it is – poison!
Poison Tap Water Makes Number 1 Google Search Poison tap water has
become the number one trending search term on Google trends today
after our efforts to bring attention to how sodium fluoride in tap water
is a deadly health threat went viral.
Sodium Fluoride: Poison In The Tap Water Alex Jones is launching a new
campaign to inform the public about the toxic chemical fluoride being
added to tap water across the country. While EPA scientists and
workers are calling for an end to water fluoridation, the government is
doing everything in its power to continue and even increase the
amount of toxic chemicals being added to public water supplies.
Naked Body Scanners: Monumental Cover Up Exposed At the height of the
furor over airport body scanners earlier this year, the TSA publicly
stated that it was not possible to store, record, transmit or print out
the images that show in detail the naked bodies of men, women and
children that have passed through them. At the time we presented
evidence to the contrary. Now it has been conclusively proven that the
TSA and other federal agencies using the scanners flat out lied to an
unwitting public.
Material girl Michelle Obama is a modern-day Marie Antoinette on a glitzy

Spanish vacation NY Daily News | But while most of the country is
pinching pennies and downsizing summer sojourns – or forgoing
them altogether – the Obamas don’t seem to be heeding their own
advice.
SEC Probes BP Potential Insider Trading: Sources Reuters | U.S. securities

regulators are investigating whether people may have illegally profited
from trading on nonpublic information at BP in the weeks following
the disastrous Gulf oil spill.
Rockefeller Foundation Developed Vaccines For “Mass-Scale” Fertility

Reduction In its 1968 yearly report, the Rockefeller Foundation
acknowledged funding the development of so-called “anti-fertility
vaccines”
China Holds More Military Exercises Amid Tensions With U.S. Chinese
armed forces on Thursday continued a second set of back-to-back
exercises, underscoring expanding capabilities and ambitions that
have prompted unease among top U.S. military officers. That unease
has been exacerbated by Beijing’s freezing of military-to-military ties.
Preparing for World War III, Targeting Iran Humanity is at a dangerous

crossroads. War preparations to attack Iran are in “an advanced state of
readiness”. Hi tech weapons systems including nuclear warheads are fully
deployed.
Pentagon tells WikiLeaks: "Do right thing" (Reuters) [Great advice … if

only the endless war, military complex based pentagon could take it!] The
Pentagon demanded on Thursday that whistle-blower web site WikiLeaks
immediately hand over about 15,000 secret Afghan war records it had not
yet published and erase material it had alrea…
US faces deadliest month in Afghan war With 63 US service members

killed, July has become the deadliest month for American forces
stationed in war-torn Afghanistan.
Google and CIA Plough Millions Into Huge ‘Recorded Future’ Monitoring
Project Google’s cosy relationship with the U.S. spy network has once
again been thrust into the spotlight as the company is reported to
have jointly invested with the CIA in an Internet monitoring project
that scours Twitter accounts, blogs and websites for all sorts of
information, and can also “predict the future”.
Google and CIA Fund Political Precrime Technology More evidence has
emerged revealing Google’s spook connections. Noah Shachtman,
writing for Wired, details how the CIA’s technology investment
operation, In-Q-Tel, and Google are supporting a company that
monitors the web in real time.
President Obama calls African-Americans a ‘mongrel people’ President

Obama waded into the national race debate in an unlikely setting and
with an unusual choice of words: telling daytime talk show hosts that
African-Americans are “sort of a mongrel people.”
White House proposal would ease FBI access to records of Internet activity
The Obama administration is seeking to make it easier for the FBI to
compel companies to turn over records of an individual’s Internet
activity without a court order if agents deem the information relevant
to a terrorism or intelligence investigation.
Project Steve Watson | Search Company’s ties to spy agency in
spotlight again over real time Internet monitoring.
Google and CIA Fund Political Precrime Technology Kurt Nimmo | Google is
complicit in the concerted effort to build a huge surveillance and
control grid.
Source of leaked military docs unknown: WikiLeaks While the United

States is trying to hunt for the individual behind the massive leak of
US military data on Afghanistan war, the whistleblowers’ website, that
made the 91,000 classified documents available to the world, has said
that the source of leak is unknown.
Document leak part of U.S. plot, says Pakistani ex-general with ties to
Taliban From the deluge of leaked military documents published
Sunday, a former Pakistani spy chief emerged as a chilling
personification of his nation’s alleged duplicity in the Afghan war —
an erstwhile U.S. ally turned Taliban tutor.
Leaked files indicate U.S. pays Afghan media to run friendly stories Buried
among the 92,000 classified documents released Sunday by
WikiLeaks is some intriguing evidence that the U.S. military in
Afghanistan has adopted a PR strategy that got it into trouble in Iraq:
paying local media outlets to run friendly stories.
World Net Daily (I found them to be a less than credible israeli / bush
aministration shill at best and haven’t even looked at said site in many
years) writer says Fluoride is good for you. An open letter to Phil
Elmore Rob Dew / Kurt Nimmo | The only winners are the aluminum and
fertilizer industries that work hand in hand with public water works to
send toxic waste into the homes of millions across our country.
Congress extends war funding for Afghanistan Baltimore Co. Independent

Examiner | Congress voted to extend funding for the war in
Afghanistan by an additional $59 billion late on Tuesday.
Kucinich: 92,000 reasons to end the wars AFP | US lawmakers opposed to

the Afghan war, emboldened by a huge leak of military files on the
conflict, pushed Tuesday for pulling US forces from Pakistan.
Oliver Stone has apologized for his anti-Semitic rant, but is the damage
already done. What damage? To perceived reality as opposed to reality?
When you look at america’s pro-israel, self-destructive, contra-indicated
policies, including the hands off policy vis-à-vis fraudulent wall street, you
see the truth to what he says which is what so many astute individuals are
already thinking / realizing. How can people continue to ignore the truth, to
their own detriment Think about it. Do you really think he would risk the
typical onslaught if the same weren’t true? ‘Director Oliver Stone has been
forced to make a grovelling apology over an anti-Semitic outburst. The
double Academy Award winner claimed that the Russians suffered more
during the Second World War and that there was a Jewish 'domination of
the media'. Stone also said that Jews had '****ed up' U.S. foreign policy for
years and suggested the British supported Hitler ...’ The relentless attacks
on Mel Gibson are of the same caliber and purpose; suppression of truth!
Infowars.com Poll: Majority Believe Road Warrior Depression Coming Kurt

Nimmo | Like the Great Depression, the Greatest Depression now
being scientifically created has a specific agenda in mind.
On the Bloated Intelligence Bureaucracy
Disappearing Act: $8.7 Billion of Iraq Development Money Missing Kurt

Nimmo | Government says it is all the fault of shoddy accounting
practices.
Ahmadinejad: US Expansion Of War In Middle East Imminent Steve Watson
| Tensions rise with saber rattling rhetoric.
David Cameron: Israeli blockade has turned Gaza Strip into a ‘prison camp’
David Cameron used a visit to Turkey to make his strongest
intervention yet in the intractable Middle East conflict today when he
likened the experience of Palestinians in the blockadedGaza Strip to
that of a “prison camp”.
Rockefeller Study Envisages Future Dictatorship Controlled By Elite …

(Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic
news, however; it’s called reality: [Neanderthals, Humans Interbred,
DNA Proves Signs of Neanderthals Mating With Humans -
Neanderthals mated with some modern humans after all and left their
imprint in the human genome. Genome hints humans, Neanderthals
rolled in prehistoric hay You're a Neanderthal: Genes say yes — a
little bit (AP) Neanderthals and people interbred, fossil analysis finds
For more info on man’s humble beginnings, see here
http://www.albertpeia.com/anthroindex1.htm Previously I wrote:
FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories,
and the many like it, are old news and I subscribe to the more studied
view that there is no “missing link” per se and in my view they are
distinctions without significant differences. I previously wrote: [see
infra] and [Interestingly, my intuitive (but unstudied) thoughts prior to
closer examination of the compelling subject of Biological
Anthropology remain what I believe to be the correct scenario.
Specifically, very simply stated, for the most part, the more
“enlightened” (but not by much; by mutation, accident, luck,
intervention, etc.) left the unvarying confines of their Sub-Saharan
origins, experienced diverse new environs, challenges, etc.,
experienced what has been described (by neuroscientists,
psychologists, etc.) as neurogenesis in varying degrees and forms
thereby over time, which trait was selected for and is consistent with
the purported multi-regional evolutionary model which does not
overtly contradict ultimately, initial African origins. Races, sub-
species, missing links, etc., are subsumed in this very humbling and
sorrowful tale of the “dawn of man”.] [see infra] …] Global
pandemics that kill millions, mandatory quarantines, checkpoints,
biometric ID cards, and a world of top-down government control.
These things are not lifted from the latest sci-fi blockbuster movie,
they’re part of the Rockefeller Foundation’s vision for what the globe
might be like in 15-20 years’ time under a new world order tightly
controlled by the elite. [That’s getting awfully close to the outside
‘decades, not millennia or even centuries’].
Iran accuses US and UK of supporting group behind mosque attacks Iran is
vowing to hunt down a Sunni separatist group which claimed
responsibility for a double suicide bombing that killed 28 people at a
mosque in the south-eastern city of Zahedan.
US, NATO behind Iran bombings: MP An Iranian lawmaker slams the recent
bombings in the country’s southeast as a plot by Western military
forces in the Middle East to spread terror on Iran’s borders.
WASHPOST Ombudsman: Why Silence on Black Panther Story?

(Washington Post) ‘Thursday's Post reported about a growing controversy
over the Justice Department's decision to scale down a voter-intimidation
case against members of the New Black Panther Party. The story
succinctly summarized the issues but left many readers with a question:
What took you so long? For months, readers have contacted the
ombudsman wondering why The Post hasn't been covering the case. The
calls increased recently after competitors such as the New York Times and
the Associated Press wrote stories. Fox News and right-wing bloggers
have been pumping the story. Liberal bloggers have countered, accusing
them of trying to manufacture a scandal. But The Post has been virtually
silent. The story has its origins on Election Day in 2008, when two
members of the New Black Panther Party stood in front of a Philadelphia
polling place. YouTube video of the men, now viewed nearly 1.5 million
times, shows both wearing paramilitary clothing. One carried a
nightstick…’
Latino KKK: You are too white to be American! ALIPAC | Tan Klan woman
can scream racist comments because the Obama administration and most
of the major news networks in America have her back.
‘West, israel linked to SE Iran blasts’ A ranking official with the Islamic
Revolution Guards Corps (IRGC) has implicated “the us, israel and
some european countries” in the deadly blasts in the southeastern
Iranian city of Zahedan.
De-classified Vietnam-era Transcripts Show Senators Knew Gulf Of Tonkin

Was A Staged False Flag Event Over 1,100 pages of previously
classified Vietnam-era transcripts released this week by the Senate
Foreign Relations Committee highlight the fact that several Senators
knew that the White House and the Pentagon had deceived the
American people over the 1964 Gulf of Tonkin incident.
Afghans march in Kabul to denounce NATO strikes that killed civilians:

Demonstrators shout anti-American slogans, denounce NATO strikes
(Washington Post ) Sounds like a plan! Almost surreal was the
appearance of gates on failed network ‘news’ show to shill the non-
strategy of draw down (of troops) linked to success. What success?
Just being there and every day they’re there is unequivocally abject
failure. Celebritology Weekend: Angelina Jolie biography arrives;
Heidi Montag files for divorce (Washington Post ) I usually don’t weigh
in on entertainment news, but this headline concerning what appears
to be a disparaging, and quite selectively so, purported biography of
Angelina Jolie is very disheartening when you consider the numerous
instances of failed leadership at nearly all very high levels of
government having so detrimental an impact on the world, that
morton deems his time appropriate to an actress who has actually
tried to do good things (U.N., etc.) without having to. Indeed, even her
latest film ‘Salt’ (spectacular by any standard as is her performance –
there are at least 2 winning sequels there with 4 the max and
stretching it owing to age – she puts all, and I mean all the ‘Bonds’ to
shame) had an important message in terms of the damage to this
nation by a seemingly endless, nation-bankrupting, anti-american (war
criminal israelis already, and quite correctly, globally hated) sentiment
producing war strategy that is neither strategy nor reasonably
consistent with any positive american goal / objective; but rather is
such a debacle and folly that the same could very well be one that
only an enemy of defacto bankrupt america could hatch and for the
reasoning set forth in the well-written / directed film. She astutely
observed and talked about the synchronicity of the film as juxtaposed
to recent events revealing that she is wiser than most in Washington.
Wall Street Is Laundering Drug Money And Getting Away With It Zach Carter
| Wachovia was moving money behind literally tons of cocaine from
violent drug cartels. It wasn’t an accident.
Drudgereport: NEW LOW FOR O: USATODAYGALLUP HAS OBAMA

APPROVE AT 41%...
America Is 'Bankrupt Mickey Mouse Economy'...
DOW drops 265...
US-backed fighters in Iraq defect to al-Qaida... [Winning hearts and minds … for
Al Qaida … just one too many civilian deaths for no good reason at all ]
CASTRO WARNS OF IMPENDING NUCLEAR HOLOCAUST
WELCOME TO THE RECOVERY...
JULY UNEMPLOYMENT -131,000 JOBS...
Revised: May/June -97,000 jobs than first reported...
Odd mix of bad news...
CASTRO WARNS OF IMPENDING NUCLEAR HOLOCAUST
Michelle Obama 'modern-day Marie Antoinette'...
NYT: 'Leaves the taxpayers with a hefty bill'...
While Obama preaches sacrifice, his family frolics in Spain...
Gazpacho, turbot, veal and ratatouille with the king...
Lavish Obama vacation in time of economic turmoil raises eyebrows...
BAKER: 'Leaves taxpayers with hefty bill'...
Hollywood star-studded gala at first lady's luxury hotel...
MICHELLE O'S $375,000 VACATION?!
Strolls Marbella after State Dept. 'racist' Spaniards gaffe...
White House calling: Please will you make a coat for Michelle...
Boy Scouts boo Obama...
GALLUP: Blacks and Whites Continue to Differ Sharply on Obama...
JUDGE KNOCKS DOWN MARRIAGE PROP IN CA
BLOW TO O: MO SAYS NO
Voters overwhelmingly rejected federal mandate to purchase health
insurance...
Americans swap passports; Desire to avoid tax leads some to renounce
citizenship...
Ahmadinejad survives blast near motorcade...
'Stupid Zionists have hired mercenaries to assassinate me'...
FALTERING RECOVERY TRIPS DOLLAR...
GM, FORD and CHRYSLER Sales All Lag Estimates...
Stimulus Slammed: Republican Senators Release Report Alleging Waste...
The 100 worst stimulus projects...
SHOCK VIDEO: DEM CONGRESSMAN BRAGS: 'FEDERAL GOVERNMENT
CAN DO MOST ANYTHING IN THIS COUNTRY'...
Deadliest Month Of Afghan War
Paper: Will Washington's Failures Lead To Second American Revolution
Maxine Waters faces trial over bank bailout funds...
HOT WATERS
Dems Say Sorry, Charlie...
Democrats Say Rangel Should Resign...
Obama: Time For Rangel To End Career 'With Dignity'...
60,000 babies born to 'noncitizens' get U.S. birthright - in Texas alone...
Dutch become 1st NATO member to quit Afghanistan...
Economic indicators reflect weak recovery (Washington Post) Even

assuming their anemic, negative numbers are real (I don’t believe
anything they say and believe situation to be more dire than reported),
the economic reality indicated prospectively thereby is as previously
set forth: This is a global depression. This is a secular bear market in
a global depression. The past up move was a manipulated bull (s***)
criminally prosecuted, jailed, fined, and disgorgement imposed
As economy slowly recovers, area companies announce IPOs (Washington

Post) With very few exceptions, economic realities make the same
(ordinarily a real net economic positive) a negative owing to dilution
and the absence of real, profitable, private sector investment
opportunities.
China surpasses Japan as world's No. 2 economy (Washington Post) As if no

one saw that coming.
Fed’s Hoenig: Keeping Rates Too Low ‘Dangerous Gamble’ The Federal
Reserve is undertaking a “dangerous gamble” by keeping rates at
near zero for so long, and must start raising rates or risk damaging
the nascent U.S. recovery, a top Federal Reserve official said on
Friday.

incompetent that they should not even be hired to mop the floors of a
Dairy Queen.
Lots of stimulus yet to be spent (Washington Post) [Wow! Sounds like Alec’s
looking for ‘work’ on wall street. I think his glass is not only ‘wall-street-half-full’,
but has an extra concentration of fluoride, the effects of which seem ‘reachingly
obvious’. Time to come back to economic reality, Alec. ]Alec MacGillis / As
Americans puzzle over why the economic stimulus package enacted more than a
year ago has failed to restore vigorous job growth, one explanation has emerged
from new reports: A lot of the money is not yet out the door.
High Probability for Lower Market Prices Ahead ‘…Economic numbers

being what they are (very poor), we should expect a downward
revision of second quarter GDP to 1.5% from the originally
disappointing number of 2.4%. As more data is being released it is
apparent that we are witnessing even further deterioration here in the
third quarter. Will we have a double dip or since it officially has never
been declared that we have come out of the recession, is this just
more of the same? Globally, governments have spent trillions of
dollars to revive their economies. We are seeing mixed results from
that largess, as some countries such as Germany and China are doing
better than others, such as Greece, Ireland and the US. Will more
government intervention help? I think not. We may have reached a
tipping point where many are tired of others being the benefactors of
taxpayer money …’
Gold Providing Safety During Market Downturn
Pension check may not be in the mail Chicago Tribune | Illinois public
employees who think the state constitution guarantees that they’ll get
all their pension benefits
Back to School? Bring Your Own Toilet Paper New York Times | “The first
time I saw it, my mouth hit the floor,” Emily’s mother, Kristin Cooper,
said of the list, which also included perennials like glue sticks,
scissors and crayons.

collapse.
Obama Says Private Accounts Would Endanger U.S. Social Security

Benefits President Barack Obama said Republican proposals to have
people invest Social Security benefits in private accounts would
increase the U.S. budget deficit and put retirement money at risk to
“the whims of Wall Street traders.”
The Trade Deficit Nightmare When they hear the word deficit, most
Americans immediately think of the U.S. government budget deficit
which is rapidly spiralling out of control.
Economic indicators reflect weak recovery (Washington Post) [Recovery? I

say they’re dreamin’! So does Schiff, (Peter Schiff: “We’re in the Early
recession since the Great Depression later, Schiff stands alone again
with a bleaker diagnosis for the economy: an inflationary depression.)
among other economists, (Economists Herald New Great Depression
The world is currently experiencing the modern day equivalent of the
economic doom on a scale not seen since the 1930s.) , and my
position and that of demographer Dent (This is a global depression.

the latest.
Warnings: Social Security at risk (Washington Post) [ Not this again! It

bears repeating, that was always a bad idea and there was a plethora of
reasons set forth on my site as to why the social security privatization plan
being shilled by moron war criminal dumbya bush on behalf of the wall
street frauds was an exceedingly bad idea. Indeed, as defacto insolvent as
america / the social security system is, the nation and system would have
been wiped out by privatization debacle. Talk about too big to, but still
failed. It was a bad idea then, and though accusations may fly as to fear
mongering, the reality of the venality attendant to such a preposterous
course on behalf of the wall street frauds requires vigilance, scrutiny, and
discourse concerning even the remote possibility of such a fool-hearty
betrayal of the citizenry of the nation. As such, as off the mark as wobama
has almost invariably been, he’s on the mark on this. ]ANALYSIS | Obama
says GOP wants to privatize program, but liberals see a different threat.
Makeup of Obama's housing reform panel draws ire (Washington Post)
[Wow! Talk about late to the party! I mean … a conference? It’s not as
if this was some new or novel problem coming down the pike. Then
there’s the everything but the core issue / problem approach that
seems recurringly fashionable.] Advocates say that the administration
is excluding consumer and community groups from playing
prominent roles in a government-sponsored conference next week
that will kick off efforts to overhaul national housing policy.
Foreclosures surge 9 percent in July (Washington Post) Those glass-half-

full frauds on wall street along with the administration will be cheering this
unequivocally bad news with a dubious retort as ‘used home sales will rise’
… riiiight! Anything you say …
Stocks dip for third straight day (Washington Post) [Investor fears? How
‘bout reality. Even an essentially non-business site as Drudge has the
pulse of this pervasive realization that ‘those dogs of happy days are here
again don’t hunt no more’. Check the heads: DRUDGEREPORT: America Is
'Bankrupt Mickey Mouse Economy'...
Grim Voter Mood Turns Grimmer... and Economists Herald New Great
Depression The world is currently experiencing the modern day equivalent
of the Great Depression, according to a prominent economist who has
added his voice to scores of others now forecasting ongoing economic
doom on a scale not seen since the 1930s. Peter Schiff: “We’re in the Early
recession since the Great Depression later, Schiff stands alone again with
a bleaker diagnosis for the economy: an inflationary depression. My take:
fined, and disgorgement imposed
Pearlstein: The FCC and the bandwidth wars (Washington Post) [The
internet has been among the few areas of growth and american
prominence, at least at this point in time. Clearly, as with the throng that
heralded in NAFTA, the self-interested voices of ie., google, verizon, etc.,
are similarly anathema to the greater good (as was NAFTA). Berners-Lee
spoke against such parochialism in no uncertain terms, much as did Ross
Perot on NAFTA and history has proven Perot correct as is so of the mind
numbing approaches of google, verizon, etc.] Google-Verizon Pact: It Gets
Worse (infowars.com) [ Timothy Berners-Lee, putative father of the internet
along with Cerf, has already weighed in on this topic and strenuously
opposed same and whose learned opinion should be given great weight.
google and verizon as mere government shills at best and government, ie.,
nsa / cia, etc., operatives at worst, are ‘johnny-come-latelies’ and died fast
in government hands! ]. So Google and Verizon went public today with
their “policy framework” — better known as the pact to end the Internet as
we know it.
AP Business Highlights ‘Jobs picture dims as unemployment claims rise

WASHINGTON (AP) -- The economy is looking bleaker as new applications
for jobless benefits rose last week to the highest level in almost six
months. It's a sign that hiring remains weak and employers may be going
back to cutting their staffs. Analysts say the increase suggests companies
won't be adding enough workers in August to lower the 9.5 percent
unemployment rate. First-time claims for jobless benefits edged up by
2,000 to a seasonally adjusted 484,000, the Labor Department said
Thursday. That's the highest total since February. Analysts had expected
claims to fall…’
Bearish Sentiment Falls to 14-Week Low [Talk about contrarian indicators!]

AAII – ‘Bullish sentiment rose 9.4 percentage points to 39.8% in the latest
AAII Sentiment Survey. Despite the size of the increase, the proportion of
individual investors expecting stock prices to rise over the next six months
is only at a two-week high. The historical average is 39%. Neutral
sentiment, expectations that stock prices will stay essentially flat over the
next six months, fell 1.3 percentage points to 30.1%. The historical average
is 31%. Bearish sentiment, expectations that stock prices will fall, dropped
8.1 percentage points to 30.1%. This is a 14-week low. The historical
average is 30%. The survey period, Thursday through Wednesday, needs to
be taken into consideration when looking at these results. Stock prices
were essentially flat through most of this week's survey period (with the
obvious exception of yesterday), giving some investors hope that a short-
term bottom had been established. Though there were big changes in
bullish and bearish sentiment, both optimism and pessimism are close to
their historical averages. As a result, I would argue that individual
investors' confidence in the market remains fragile…’
nearly 900,000 annually (with benefits the package was an incredible
companies, as previousl set forth on this website. Drudgereport:
ACCORDING TO TECHNICAL INDICATORS, MELTDOWN IS POSSIBLE
Simon Maierhofer A SOLID TRACK RECORD An analysis of the SMA
crossover buy/sell signals triggered for the S&P over the past 10 days
shows that six of the eight signals (75%) were correct. ..LAGGING BUT
ACCURATE Many dismiss the 200-day or other SMAs as lagging indicators.
Although an indicator may be lagging it doesn't mean it's incorrect or
should be dismissed… Even though a lagging indicator, the rain does
confirm that a storm is coming. A PRO-ACTIVE APPROACH You'd expect
Wall Street and the financial media to be the financial weather man and
warn you of upcoming storms. Unfortunately, that is not so. Leading up to
the April 2010 recovery highs, Wall Street and the media proclaimed the
skies are clear, 'sunny throughout the year' was their weather forecast.
Only after investors got drenched, did Wall Street recommend pulling out
the umbrella. Sure enough, as soon as the umbrellas came out, stocks
switched into rally mode and the sky cleared up. Unlike Wall Street, the ETF
Profit Strategy Newsletter warned of the brewing storm while it was still
sunny. On April 16, the newsletter warned that 'historically, there has rarely
been a more pronounced sell signal ... When consumers spend, they do so
with credit cards. Visa and Master Card both got hit with a death cross. It's
just a matter of time until the discretionary sector follows. WAIT, THERE IS
MORE …High copper prices are reflective of high demand and a humming
economy. Lower copper prices signal trouble ahead. On June 22, an
ominous death cross visited copper's chart. PUTTING THE ODDS IN YOUR
FAVOR Investing is a game of probabilities. While you always want to have
the odds in your favor, you never want to bet against the odds. Right now,
the odds are piling up on the bearish side of the ledger. Even though Wall
Street is saying that the sky has cleared up, 'meteorologists' with a better
track record are warning of the storm ahead. In fact, there is one rare chart
formation that strongly suggests the onset of a 2008-like decline, a
development that's certainly supported by the number of death crosses
spanning a variety of markets. The August issue of the ETF Profit Strategy
Newsletter includes a detailed short, mid and long-term forecast, along
with the one chart that tells the market's story and true bearish potential.
Congressman Calls Vote on $26 Billion Jobs Bill a Sign ‘We’re Not
Bankrupting the Country Fast Enough’ With a tone of sarcasm, a
California Republican congressman said that he “knows” why
members of the U.S. House of Representatives were summoned from
their home districts back to Washington, D.C., and the halls of
Congress.
U.S. Is Bankrupt and We Don’t Even Know Bloomberg | Let’s get real. The
U.S. is bankrupt. Neither spending more nor taxing less will help the
country pay its bills.
Crowd waiting for housing vouchers gets rowdy Atlanta Journal-

Constitution | A crowd of people hoping to get federal housing
assistance became unruly Wednesday morning with reports of fights
breaking out in the crowd.
Californians’ income falls for first time since WWII Sacramento Bee | The
personal incomes of Golden State workers fell by that amount in 2009
compared with the previous year.




PAPER: 10 reasons why Obama presidency is in meltdown...
GALLUP: Even the Poor Are Abandoning Obama; Approval Under 50%...
Obama abolishes White House position dedicated to transparency...
Michelle Obama popularity falls...
DOW drops 265...
US-backed fighters in Iraq defect to al-Qaida... [Winning hearts and minds
… for Al Qaida … just one too many civilian deaths for no good reason at
all ]


the 1930s.
Ambac says it's working on bankruptcy filing MBIA Inc. reports a

quarterly profit, while rival bond insurer Ambac Financial Group
posts a loss....
Food Inflation Coming To A Household Near You, As Wal-Mart Hikes Prices

At Fastest Pace Since Early January Nothing to see here, except yet
another sign of the food inflation that’s the story of the moment.
Albert Edwards Explains How The Leading Indicator Is Already Back Into
Recession Territory And Why The Japan “Ice Age” Is Coming Albert
Edwards reverts to his favorite economic concept, the “Ice Age” in his
latest commentary piece, presenting another piece in the puzzle of
similarities between the Japanese experience and that which the US is
currently going through.
The Horrific Derivatives Bubble That Could One Day Destroy The Entire
World Financial System Today there is a horrific derivatives bubble
that threatens to destroy not only the U.S. economy but the entire
world financial system as well, but unfortunately the vast majority of
people do not understand it.
Fed set to downgrade outlook for US Financial Times | The Federal

Reserve is set to downgrade its assessment of US economic
prospects.
Goldman Made Between $11 And $16 Billion In 2009 Trading CDS And
Other Derivatives As part of its most recent FCIC grilling, David Viniar
left the political theater a month ago with a homework assignment to
disclose all of the firm’s derivative profits, as well as provide granular
detail on its derivative trades.
Japan Redux: A Video Case Study Of The Upcoming U.S. Lost Decade
Whether one believes in inflation or deflation, one thing is certain: in
many ways the current US experience finds numerous parallels to
what has been happening in Japan for not one but two decades.
March 10, 2004.
Wall Street bill sweeps away stray remnant of 1933 Glass-Steagall Act In
seven simple lines buried in this year’s financial overhaul bill,
lawmakers swept away one of the last vestiges of the 1933 Glass-
Steagall Act that held sway over markets for decades.
Small firms pay price of bank boom: As bankers celebrate more profits,
more companies die from lack of loans Small businesses are paying
the price for the banks’ dramatic return to bumper profits.

bankruptcy)’:
right now…


transparency.
out of everything this morning, for a few reasons...’
yesterday.



August 3, 2010



balance its budget.

europe:
u.s.:

much worse to come!
Warning Signs Suggest Market Headed for Another Collapse


the latest.


emigrate.
manipulated data.






efforts.
for transparency.


management.


Tuesday.



Shulman:


kidding.

contribute.



recent months."

contract."


not alone ...
Blair | Capital controls are the next big event in the government-
banking-oligarchy’s great looting of America.
Historic Voter Volatility in This Year of Fear It’s becoming increasingly

clear that Americans aren’t simply in the midst of hard times. They are
in the midst of one of the most volatile political environments since
World War II.
Pat Tillman’s Father To Army Investigator: ‘F— You… And Yours’ There
always was a dark cinematic thread to the story of Pat Tillman: the football
star imbued with post-9/11 patriotism who was killed in a friendly-fire
incident in the Afghan mountains and the allegations of a massive
bureaucratic cover-up involving the highest levels of the U.S. Army in the
wake of the tragedy.
Petraeus wants more time in Afghanistan Foreign Policy | ISAF commander

Gen. David Petraeus and other military officers are publicly and
privately pushing to limit troop reductions starting in July 2011.
Pat Tillman’s Father To Army Investigator: ‘F– You… And Yours’ Huffington
Post | The Weinstein Company sent the Huffington Post two
previously unseen letters written by Tillman’s father at the peak of
frustration with the army’s investigation into his son’s death.
Military Industrial Complex: Of 158 retired generals advising wars, 80% tied
to defense industry; 29 are defense CEOs USA Today | Of the 158
retired generals and admirals identified as mentors, 80% had financial
ties to defense contractor; 29 were company executives.

move towards
Despite positive corporate media spin amidst a cacophony of criticism
from both sides of the political spectrum, Barack Obama’s approval
rating matched its record low today according to Rasmussen Reports.

recognised.


Anderson Cooper Apologizes For Media Complicity In Tillman Cover-Up

Interview with Pat Tillman’s father about new documentary exposing
how the government with help from the media used Pat Tillman’s
death to promote the war.
publisher of The Gloom, Boom and Doom report, Marc Faber,
regularly discusses investment strategies for protecting and building
wealth during times of economic distress.

point of no return.


America.
earlier today.



riots.

March 10, 2004.
Castro warned.


Human Rights.
assets.
and its processes.


unwitting public.

advice.


vaccines”
The Psychology of Conspiracy Denial Wired Magazine writer Jonah Lehrer

attempts to offset the overwhelmingly critical response to his attack
on Alex Jones by characterizing skepticism of authority in the context
of vaccines and mass medication as a psychological dysfunction,
despite the fact that the history of government-funded medical
research in the United States is replete with examples of scientific
abuse against unwitting victims.
Enemy hyped assassination: Iran pres. Iran’s President Mahmoud

Ahmadinejad rejects reports about an assassination attempt on his
life in Hamadan Province as a plot hatched by the enemies.

deployed.



control grid.




practices.



nightstick…’


Down in the Dumps Street: Dave's Daily Wall Street now Dump Street.
Options Action: Bearish Bet on the Market ‘During tumultuous times you
want to protect your portfolio but how should you do it? Brian Stutland has
a strategy using the S&P ETF He suggests selling a call against a long
position.
[$$] Prepping for a Data-Filled Friday [Writing covered calls is an

interesting, conservative financial strategy that certainly can enhance
overall return, but as well, limit upside potential / capital gains … which in
this market is ‘no problemo’ whatsoever, reality considered ]‘There were
several folks out this morning yelling to buy the dip (Jim Cramer was one
of them), and traders who followed that advice did pretty well. Rather than
buying the dip, I used the initial drop to escape some positions I thought
were going to expire worthless, then I used the bounce to lighten up more.
Bears were able to get the SPDR back under the $108.75 to $108.88 area,
which I see as key right now. Another Friday and I'm curious to see any
impact from the weekly options. Will the big names be stuck right around
the strikes where they stand now? Unfortunately, the bigger tech names
are closer to their downward strikes than their higher strikes, so that could
pressure the market. One name that doesn't seem to care is Baidu. It is
right in between the $80 and $85 strike right now, so...’
Jobless claims jump to 5-month high The number of first-time filers for
unemployment insurance rose to the highest level since late February
last week, according to a weekly government report released
Thursday.
nearly $900,000 annually (with benefits the package was an incredible
companies, as previously set forth on this website. Drudgereport:
On-air use of N-word 'was wrong' (AP) (Washington Post) [The infamous ‘N’
word … the wobama Oedipal effect …] Dr. Laura apologizes for using
it on talk radio show with caller she deemed "hypersensitive" to
racism.
Resistance on Gaza flotilla came as surprise (Washington Post, 8-12-10)

Oh, please! Spare me the b*** s***! You’re hurting my ears and eyes!
There’s no excuse for what are typical militant, belligerent,
provocative, war criminal israeli actions, to america’s and the world’s
detriment. For one to buy into the typical israeli line they’d have to be
deaf, dumb, and blind; and particularly, self-destructively foolish. It’s
sadly always the same old story with the bloodthirsty israelis, with the
few exceptions, bright lights as they were, ie., Christ, Rabin, etc.,
meeting the same bloody and dismal fate.
Netanyahu: Raid on aid flotilla was 'last resort' after talks failed
(Washington Post) Come on! Isn’t everyone tired of the israeli b*** s***
of contriving circumstances to sabotage resolution, then having
everyone pay the price for their intransigence and militancy (they have
illegal nukes, commit war crimes, etc.). Then there’s the everyone play
dumb in light thereof; and, defacto bankrupt america, et als, have
been very dumb which is not lost on the rest of the world. Time for
tough action against war criminal nation, international law / u.s.
resolution violator israel.




bankruptcy)’:
right now…


transparency.
out of everything this morning, for a few reasons…First, breakouts don’t
always work and momentum stocks have a habit of ending their trends
abruptly.
Second, …I can buy back in this afternoon if I change my mind (not likely). I
see more risk to the downside here than I do to the upside. …Third, the
jobs number tomorrow scares me. No, it doesn’t matter what the number is,
we all know it’s going to be bad, what matters is how the market reacts,
and I have the feel it’s not going to be good. Fourth, many of my oscillators
are overbought here.Fifth, and finally, I don’t like the fact that this rally has
primarily taken place on the back of the most beaten down sectors. …It all
just doesn’t pass the smell test for me. I’ve been successful at this not
because I’m always right, but because I know when I’m wrong and I’m
willing to change course or step aside. Right now, I’ll step aside.’
yesterday.



August 3, 2010



balance its budget.

europe:
u.s.:

much worse to come!
Warning Signs Suggest Market Headed for Another Collapse


the latest.


emigrate.
manipulated data.





efforts.
for transparency.



management.


Tuesday.



Shulman:


kidding.

contribute.



recent months."

contract."


not alone ...

legislation Vegetable zionist Zelig joe lieberman’s Model For
America: Purging The Internet of Dissent When political Zelig joe
lieberman

recognised.


Anderson Cooper Apologizes For Media Complicity In Tillman Cover-Up

Interview with Pat Tillman’s father about new documentary exposing
how the government with help from the media used Pat Tillman’s
death to promote the war.
publisher of The Gloom, Boom and Doom report, Marc Faber,
regularly discusses investment strategies for protecting and building
wealth during times of economic distress.


point of no return.


America.
earlier today.



riots.

March 10, 2004.
Castro warned.


Human Rights.
assets.
and its processes.


unwitting public.

advice.

vaccines”
The Psychology of Conspiracy Denial Wired Magazine writer Jonah Lehrer

attempts to offset the overwhelmingly critical response to his attack
on Alex Jones by characterizing skepticism of authority in the context
of vaccines and mass medication as a psychological dysfunction,
despite the fact that the history of government-funded medical
research in the United States is replete with examples of scientific
abuse against unwitting victims.
Enemy hyped assassination: Iran pres. Iran’s President Mahmoud

Ahmadinejad rejects reports about an assassination attempt on his
life in Hamadan Province as a plot hatched by the enemies.

deployed.



control grid.



already done. What damage? To perceived reality as opposed to reality?
When you look at america’s pro-israel, self-destructive, contra-indicated
policies, including the hands off policy vis-à-vis fraudulent wall street, you
see the truth to what he says which is what so many astute individuals are
already thinking / realizing. How can people continue to ignore the truth, to
their own detriment Think about it. Do you really think he would risk the
typical onslaught if the same weren’t true? ‘Director Oliver Stone has been
forced to make a grovelling apology over an anti-Semitic outburst. The
double Academy Award winner claimed that the Russians suffered more
during the Second World War and that there was a Jewish 'domination of
the media'. Stone also said that Jews had '****ed up' U.S. foreign policy for
years and suggested the British supported Hitler ...’ The relentless attacks
on Mel Gibson are of the same caliber and purpose; suppression of truth!


practices.



nightstick…’

In weak economy, more people are filing early for Social Security
(Washington Post) I think this to be a combination of prescience and ‘get
while the getting’s good’. After all, this is an unfunded promise meant to be
broken by defacto bankrupt America.
Military experience helps shape future career success (Washington Post)

[Oh yes. That now typical american government / military experience;
born of nothing and offering nothing of real value morphing into that
so-called conduit for treasury-draining money flows aka the infamous
consultant]. John Morgan's service in the Navy propels him to greater
responsibilities at the Pentagon, and eventually to a consulting
position with Toffler Associates.
INSIDER TRANSACTIONS (Washington Post) APPOINTMENTS: Insider

Transactions: Appointments (Washington Post) Yes, it all sounds like
a plan! A bad one for most; but, lucrative for a few, as is so with crime
in the general sense.
The anti-business president's pro-business recovery(Washington Post)

[First, what recovery? He’s just with open-eyes transferred treasury /
taxpayer dollars to fraudulent wall street et als including the military
complex while incurring unsustainable debt loads for already defacto
bankrupt america. Others have already recognized this reality. Is
Obama a Marxist? He Works for the Bankers Poll: Waning support
for Obama on wars Support for Obama’s wars fell to 36%, down from
48% - reality: This is a global depression. This is a secular bear market
in a global depression. The past up move was a manipulated bull (s***)
In Iraq, $2.6B unaccounted for (Washington Post) [Daaah! Fog of war

frauds among others; the nation’s treasury pillaged and plundered; I’ve
previously commented here and included on my website
http://albertpeia.com , see infra] Pentagon can't account for how it spent
$2.6 billion of Iraqi oil proceeds, an IG report says.
Articles on Catherine Austin Fitts' Blog: http://solari.com

Billions over Baghdad Barlett and Steele - Vanity Fair September 2007
Those Who Blow Whistle on Contractor Fraud in Iraq Face Penalties
Hastings - AP 2007
Auditor Quits with NASA Finances in ChaosBy Nag and
Zabarenko2004
The War on WasteCBS News Citing "cooked books" at DOD, Rumsfeld
on the missing $2.3 trillion, 2002
Military Stashes Covert Millions St. Petersburg Times 2003
The power of Palin's touch (Washington Post) [Wow! Talk about stupid.
Murphy could have eliminated the middle-man (person) and appeared on
SNL himself; maybe reprising a familiar (Eddie) Murphy role as Gumby 2,
Son of Gumby. The only thing funnier is palin herself. She’s so
embarrassingly dumb!] .Endorsement lifts little-known candidate in Md.,
giving the struggling campaign a "megaphone."

9 Reasons Why You Won’t See A Jobs Recovery Anytime Soon In two
words: small businesses.
Federal Employees Earn 30 to 40 Percent More than Private-Sector

Workers, Study Finds Federal employees earn 30 to 40 percent more
money than their private sector counterparts on average, a study from
the conservative Heritage Foundation finds.
The Oil Price Surge Indicator Says There’s A 100% Chance Of A New
Recession No, that headline is not a typo.
Gerald Celente On the Alex Jones Show: Double Dip Depression Will Lead
Us Into War The white shoe boys are taking us into the worst depression in
history.

Accountability is unclear in israeli probe of flotilla raid (Washington Post)

Oh, come on! An israeli probe of an israeli massacre of civilians. Time
for israel to pay; for illegal nukes, for violations of international law,
for continued violations of u.n. resolutions, for provocations as
pretexts to sabotage peace talks, and on and on ad nauseum. Why
does america among other nations feel compelled to sacrifice
themselves for the sake of a global criminal nation with an insatiable
greed and blood-thirst as israel?
What Pentagon cuts mean for future of defense contractors (Washington Post)
Well, taking a page from the fraudulent wall street glass always half full even
when empty camp, they might say more pie and less competition for that inner
circle of frauds. You know, this is a dead goose with gold-plated eggs scenario.
Reality: U.S. IS BANKRUPT AND WE DON’T EVEN KNOW IT : LAURENCE
KOTLIKOFF LAURENCE KOTLIKOFF AUG. 11 (BLOOMBERG) -
(WASHINGTON POST) - LET’S GET REAL. THE U.S. IS BANKRUPT.
NEITHER SPENDING MORE NOR TAXING LESS WILL HELP THE COUNTRY
PAY ITS BILLS ... Peter Schiff: “We’re in the Early Stages of a Depression”
The Motley Fool | Four years and the worst recession since the Great
Depression later, Schiff stands alone again with a bleaker diagnosis for the
economy: an inflationary depression.
rate at 9.5%. At this rate of progress, and according to their thinking
and manipulations, full employment at an unprecedented 0%
unemployment is just around the corner as everyone stops looking for
the jobs no longer here, many of which were sent overseas and which
are not coming back owing to substantial economic structural /
financial shifts.
Yeah! Dave’s the only one who seems to be on the mark concerning the
preposterous market action this day. Even before reading same I was going
to comment here that I believed that the decision to ‘mouse click / button
push’ the programmed buy trades was probably made after hours in the
previous session. Remember, these are desperate criminally insane frauds
on wall street who really try very hard to get people to by into their paper-
churning high-frequency trade / commission scam for which ultimately
potentially productive money is siphoned off / drained from the economy
into their pockets which is a net negative in real economic terms. They
know all the tricks, technical trendlines, moving averages, etc., to suck
them in: Buy Program Express Lifts Markets: Dave's Daily - The economic
news from the unemployment report could not be worse and an old pattern
was repeated -- higher volume on a selloff followed by an engineered "stick
save" into the close. It used to be hard to make this stuff up, now it's
becoming routine. As noted yesterday, bulls might like bad data since
they'd expect another round of quantitative easing (QE2) from the Fed and
a politically desperate administration. This means more liquidity baby and
an opportunity to lift stocks to new highs. That's the thinking from bizzaro-
land. So we get another big intraday 150 point swing in the DJIA as the
"2:15 PM Buy Program Express" hits the tape on time as volume starts to
dry up. That's why the caution sign advises to stay away from the Program
Trading Express. Nevertheless, volume increased Friday with most of that
coming early and often. Breadth was negative but not overwhelmingly so.
China orders closure of more than 2,000 factories Associated Press

(Washington Post) [ Riiiight! The ultimate environmentalists. The
communist Chinese. How ‘bout that’s the China bubble bursting that
you hear / see! Be sure to wear some flowers in your hair… if you’re
goin’ to san fran Beijing, your goin’ to meet some gentle people there
… ] China orders 2,087 steel and cement mills and other factories
with poor energy efficiency to close as the country struggles to
improve its battered environment.
(08-09-10) Economists Herald New Great Depression The world is currently

the 1930s.
Social Security borrowing cash to tap its own trust fund (Washington Post)
[ Wow! Talk about creative accounting / finance. Borrowing more cash
to replace paper IOU’s which should be cash but has been spent. Yes,
indeed! This sounds like a plan not sound. Sounds like defacto
bankruptcy! ] This year's cash deficit, the first since the early 1980s
and the biggest ever, means the government will have to borrow
money to redeem some of the Treasury securities in the trust fund.
Freddie Mac's loss narrows, but firm needs more aid (Washington Post)
[ Sounds like a plan! After all, what are corporations for in a free
enterprise capitalist system but to as closely as possible follow that
fraudulent wall street boondoggle paradigm of socializing the losses
and privatizing the gains. I still can’t get over those compensation
packages that probably exceed the value of the company.] Mortgage
finance giant Freddie Mac said that its loss in the second quarter
narrowed but that taxpayers would still be on hook for the foreseeable
future.
Post Co. reports big increase in second-quarter earnings Congratulations

to the Washington Post for well deserved results! A testament to the
fact that excellence in fearless journalism has its rewards! … If not
the Post, then who? … :
Economist sticks by stimulus, regrets call on jobless rate (Washington

Post) Well, they skipped the ‘fall on her sword for the sake of the empire’
part, albeit a defacto bankrupt empire … or, maybe that’s why she was
chosen … because she’s a Rome ..r. I’m still perplexed since ‘no-recession-
helicopter-ben’ bernanke and senile greenspun have far worse track
records and indeed have been causative agents for crises owing to their
consistent ‘misdiagnoses’, and as if tenured to said position received no
such critical, job-jeopardizing scrutiny ( I’d abolish the fed, absent full audit
/ transparency. In other words, I’d abolish the fed).



Gold Has Got Its Groove Back How dare any of you second guess the gold
bugs. From a day’s low of $1,168 per ounce, the yellow metal rallied to
a day’s high of $1,186. Our precioussss is back on a tear, maybe.
manipulated data.

Recovery sputters as companies add few jobs (Washington Post) ‘The

nation’s economic recovery continued to sputter in July as employers
kept shedding jobs and 181,000 discouraged workers dropped out of
the labor force, according to a government report released Friday… ‘
[Riiiiight! That ‘no-longer looking’ dynamic that saves the day and the
ue rate at 9.5%. At this rate of progress, and according to their
thinking and manipulations, full employment at an unprecedented 0%
unemployment is just around the corner as everyone stops looking for
the jobs no longer here, many of which were sent overseas and which
are not coming back owing to substantial economic structural /
financial shifts.]
Jobs Report: Companies Slow to Hire Only about 8 percent of the 8.4
million jobs lost at the peak of the recession have been recovered, leaving
millions of Americans still looking for work, according to an analysis by
ABC News' Business Unit. Video: News Update: US Unemployment Rate
Holds at 9.5%, 71,000 Jobs Added in June SmarTrend News 71K more
jobs not enough to dent unemployment rate The Associated Press

manipulated data.

FCC ends net neutrality talks (Washington Post) God knows it’s rare for me
to commend america for a governmental policy decision, but this is
indeed one such moment inasmuch as freedom of speech,
constitution, meaningful laws applicable to all, etc., are what define a
nation and america, particularly.
Retailers' back-to-school blues (Washington Post) Sounds like a plan! The

back-to-school part; and make sure the frauds on wall street along
with capital hill are with them … you know, for the readin’, ‘ritin’, and
‘rithmetic, among other fundamentals that they’ve forgotten or never
learned. Like adding/subtracting on capital hill,
economics/finance/accounting on wall street, etc.. Drogen doesn’t
believe they can so this day he’s Stepping Aside Because I Can
Always Buy Back In Leigh Drogen ‘I sold out of everything this
morning, for a few reasons.(infra)
Fannie Mae shows progress (Washington Post) Wow! Talk about wall street
spin and parallel universes! I mean, come on; billion dollar plus losses
are still billion dollar plus losses; and, given the amounts of money
defacto bankrupt america doesn’t have that’s been thrown at the
problem, anyone who doesn’t have a sense of foreboding is a fool.
40 billionaires join Gates, Buffett in pledge to give half their fortunes to

charity (Washington Post) I thought 100% the number, and will wait till
I see it. Still, no small potatoes here. Sounds like an estate plan or
maybe … Virginia's inner struggle to get off the scotch tax
(Washington Post) Beats moonshinin’ say the virginia hillbillies …
those darn revenuers!
Geithner: Extending Bush tax cuts is a '$700 billion mistake' (Washington

Post) ‘God bless us, everyone’ says that little teddy, tiny tim geithner,
a lover of taxes himself and statutes of limitation concerning same.
General's record is set straight (Washington Post) Knowing for sure, you
know, that it truly was Nixon who banged that pregnant girl just like
the tea shirt / poster said is kind of a mind altering experience. After
all, just as Truman once said, Nixon didn’t know whether he’s lying or
telling the truth. Well, that’s one for old saint Nixon since that militates
against intent; you know, the not knowing part, and after all, he was a
liar(sic) by trade. Truth be told, by more current american standards of
corruption, venality, verity, etc., Nixon was but a choir boy. The irony
of it all. Oh, the times they are a changin’.
House break cut short to work on jobs bill (Washington Post) Eh … what
the heck, ‘tis only money (they don’t really have) and besides, only
the federal government can print it … sounds like a plan … and just in
time for the election, and that should help the ue stats.
Come on! Preposterous! Service sector? You mean the the b*** s*** sector.
Even if believed (I don’t believe anything they say, and at the least all must
be discounted down, as they do later when people have forgotten that’s the
purported reason they rallied), what is 17,000 service (predominantly b***
s*** government bought jobs with non-existent deficit building funds with
some exceptions – yes, 80% of america’s economy is now b*** s*** and as
on wall street, fraud) jobs in the relative scheme of things given the
magnitude of the problems, structural and otherwise? Nothing! Stocks
went up on typically spun ‘nothing’.
General's record is set straight (Washington Post) Knowing for sure, you
know, that it truly was Nixon who banged that pregnant girl just like the tea
shirt said is kind of a mind altering experience. After all, just as Truman
once said, Nixon didn’t know whether he’s lying or telling the truth. Well,
that’s one for old saint Nixon since that militates against intent; you know,
the not knowing part, and after all, he was a liar(sic) by trade. Truth be told,
by more current american standards of corruption, venality, verity, etc.,
Nixon was but a choir boy. The irony of it all. Oh, the times they are a
changin’.
Comment on: Jobs in the cards? at 8/4/2010 6:11 AM EDT

How Obama can help small business (Washington Post) You’re a bit late …
they’ve already decided how to help … you might call their plan of putting
them out of their vaunted misery mercy killing, euthanasia, etc..
FHA: Mortgage insurance claims down (Washington Post) At least

somethin’s goin’ up, according to tiny tim ‘God bless us, everyone’!
It Comes Down Infowars.com - [Ooooh! Sounds like a plan ‘tiny tim’! …
God bless us everyone! ] Treasury Secretary Timothy Geithner
acknowledged that it is still a “tough economy” for most americans, and
warned it’s possible the unemployment rate will go up for a couple of
months before it comes down as more people enter the labor force.
U.S. savings rate at highest level in a year, data show: UNEASE ABOUT
U.S. ECONOMY
Data suggest recovery not yet self-sustaining (Washington Post) Riiiight!
Income and spending basically unchanged with falloff in both, while
pending housing sales down to the lowest level on record. The half-glass
full frauds on wall street will take it. They can spin that.
Drudgereport: NEW LOW FOR O: USATODAYGALLUP HAS OBAMA

APPROVE AT 41%...
Americans swap passports; Desire to avoid tax leads some to renounce
citizenship...
FALTERING RECOVERY TRIPS DOLLAR...
GM, FORD and CHRYSLER Sales All Lag Estimates...
Comment on: FHA is in better shape than expected at 8/4/2010 5:55 AM
EDT
FHA: Mortgage insurance claims down (Washington Post) At least
somethin’s goin’ up, according to tiny tim ‘God bless us, everyone’!
It Comes Down Infowars.com - [Ooooh! Sounds like a plan ‘tiny tim’! …
God bless us everyone! ] Treasury Secretary Timothy Geithner
acknowledged that it is still a “tough economy” for most americans, and
warned it’s possible the unemployment rate will go up for a couple of
months before it comes down as more people enter the labor force.
Comment on: As wages stall, savings rate rises at 8/4/2010 4:56 AM EDT
U.S. savings rate at highest level in a year, data show (Washington Post)
Riiiight! Income and spending basically unchanged with falloff in both,
while pending housing sales down to the lowest level on record. The half-
glass full frauds on wall street will take it.
Comment on: Democrats turn to manufacturing for jobs at 8/4/2010 4:52 AM

EDT
Manufacturing focus of jobs plan (Washington Post) L’il bit late, but,
sounds like a plan. The government’s defacto bankrupt, but, they could
always use an extra pen or two for signing those spending bills. No bics
allowed. Made in usa pens only. Ah! But alas. Defacto bankrupt america’s
expertise now lies in manufacturing wars.

Lose Sleep At Night
Americans who swap passports americans hoping to give up their

citizenship… (sure sign of insanity … I mean, Orwellian england of all
places?)
In devising punishments, SEC faced with competing interests (Washington

Post) The best punishment and the greatest deterrent is to assure that
the wall street frauds et als are criminally prosecuted, jailed, fined,
and disgorgement imposed; that is, to forfeit what they stole by
fraudulent means (remember, the bad paper is still out there but I
believe slowly but surely and very selectively being supplanted by
hard, albeit fiat currency) at the least. The cost to the treasury /
taxpayer has been enormous and hence, the resistance to
transparency / audit. The wall street perps should pay, and as yet,
they haven’t.
Tiny Tim geithner to bankers: Fear not new rules (Washington Post) They
don’t! … And, you can take that to the insolvent, mark to anything
bank! God bless us everyone! … And tiny tim, where’s that missing 4
trillion at the new york fed? Have the taxpayers, through more
surreptitious skullduggery effectively picked up that tab too?
Bernanke: Long road back to economic health (Washington Post) No-

recession helicopter ben, waxing philosophical while strumming a few
lines from the Beatle’s ‘Long and Winding Road’ with great emotion
that makes us feel for that poor sot … or snot … or NOT!


Obama's 'I told you so' on autos (Washington Post) Riiiiight, wobama. One
out of thousands of things you said (laws of ‘random probability’ on
your side), all total b*** s***, ain’t nothin’ to crow about … and, by not
standing by things wobama said, the nation’s more bankrupt!
For some, power is money (Washington Post) ‘Montgomery workers lose

wages as they wait for power to return’ … Sounds like a plan … waiting
for Godot …
PricewaterhouseCoopers laying off 500 employees (Washington Post)
Well, the least you can say for these accountants is that unlike washington,
they can do basic math (add / subtract).
Regulators close banks (108 total 2010) in Fla., Ga., Ore., Wash.
(Washington Post) Sounds like a plan! Things going swimmingly. Just
separating the wheat from the chaff, so to speak.
U.S. recovery hopes fade as economic growth dips (Washington Post)

Gross domestic product is not rising fast enough to ease unemployment …
July becomes deadliest month for U.S. troops (Washington Post) Sounds
like plan! You know, the fraudulent wall street glass half full kind of
thing … lowering of costs of prospective medical, benefits, pension …
well, in truth, I’m not sayin’ that they said that, but you’re dreamin’ if
you don’t think they think like that. You know, the new ‘attention to
deficits disorder’ in light of the nation’s defacto bankruptcy. What a
total waste in every respect!
Afghan spending faces scrutiny (Washington Post) Wow! Talk about a little
bit late for that. Oh, right … they were busy spending money the
nation doesn’t have on other things. Congress extends war funding
for Afghanistan Disappearing Act: $8.7 Billion of Iraq Development
Money Missing Kurt Nimmo | Government says it is all the fault of
shoddy accounting practices. 3 U.S. troops die in Afghan
war's deadliest month (Washington Post 7-30-10) World News
Digest: a Worth it? 4 U.S. troops die in bomb blast in south
Afghanistan (AP, July 24, 2010) ‘There will be blood’ … whoops, that’s
oil, wrong movie theme. This one’s about heroin trade. 2 More
Americans killed in copter crash in Afghanistan (AP) Not so much,
unless they rename Tony Montana, To Mon el Swahili and recut
‘Scarface’ to reflect an Aghanistan Heroin connection, or similarly
change ‘Hurt Locker’. It’s a good thing for the military that IQ tests
aren’t required. Three U.S. Embassy guards killed in rocket attack in
Baghdad's Green Zone (Washington Post) Big yes there since ‘The
Green Zone’ got Hollywood movie status. Bomb near Iraq mosque
kills 15; U.S. soldier dies in road blast (Washington Post, July 22,
2010) But guess what … none of that’s worth it; even for volunteer
soldiers whose suicide rate is unprecedented owing to this pointless,
meaningless conflagration for the sake of the military industrial
complex and the enrichment of the few; and, to which Pat Tillman was
to attest which got him fragged.
Middle East Digest (Washington Post) Witnesses report Israeli airstrikes in

Gaza
Previous-Mideast Digest Israeli shelling kills 2 wounds 6 Gaza civilians:
(Washington Post) [War criminal israelis justified their attack saying when
the 10 year old girl grew up to be a woman she’d be prepared to fire rockets
at them]


ABROGATE THE CREATION OF THE NATION STATE OF ISRAEL
Adding profits but subtracting workers (Washington Post) Sounds like an

american strategy as on wall street launched pleine lune, vollmond,
luna ilena, plenilunio, pełnia księżyca, or full moon in English. You
know, despite warnings from the very sane Ross Perot very near
labeled a lunatic, the lunatics on wall street and elsewhere ‘figured’ how
by shipping production and jobs elsewhere you could do nothing with
almost no workers and still make a similar percentage profit by selling
the repackaged foreign product here (in other words something akin to
wall street’s churn-and-earn high frequency computerized
commissionable trade programs that in real economic terms is a net
negative). The reference to Orwellian, though in other context, if only
for the synchronicity and the rapidity with which these negative events
have unfolded is welcomed. Just look at britain. Those poor dumb brits.
They think Orwellian’s their destiny and the way to go.
Long-term deflation is called a possibility (Washington Post) Whoops …

Federal Reserve's James Bullard: Long-term deflation like Japan’s is a
possibility … If only america’s could be like Japan’s … they’d take it.
Though an understatement, this revelation comes at a time when the
‘no recession ben fed’ has become the antithesis of that ‘Washington
cherry-tree tale’ since they’ve become known for their american tail
(sic) ‘they cannot tell the truth’.
Foreclosures rise in most major metropolitan areas (Washington Post)

Ooooh! Sounds like a plan! Bully, bully, bullish say the frauds on wall
street since when sold in foreclosure those sales can be spun for
increased existing (or new) real estate sales (kind of like that almost
contrarian indicator, short sales, meaning at some point they’ll have
to cover … righto old beans).
The biggest question since:Atlas/Who is John Galt?Who is Barry

Soetoro,wobama?
The following youtube video is well worth the look and explains how and
why the frauds on wall street have gotten away with their devastating
fraud thus far. The frauds on wall street et als should be criminally
prosecuted, jailed, fined, and disgorgement imposed. ( UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE... CIVIL RIGHTS
PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE... ex-
Justice official quit over the handling of a voter intimidation case
against the New Black Panther Party accused his former employer of
instructing attorneys in the civil rights division to ignore cases that
involve black defendants and white victims US v. AZ... Cases against
Wall Street lag despite Holder’s vows to target financial fraud Obama
broke promises ):



WASHPOST TAKES ON THE SPOOKS: Hidden world, growing beyond

control...
DIGEST: Consumer confidence down; home prices up (from and at low

levels which Shiller’s concedes are for the moment stabilized but
unsustainable) (Washington Post) The positive here is that at least the
consumers / populace have finally got something right.

Chiefs' compensation (Washington Post) The foregoing list, though only

oil, reveals an inherent american inclination toward thievery which
also explains the wall street debacle. Only the exceptionally few well-
managed american companies have ceo’s deserving of exceptional
pay packages / compensation and I think you’ll find in said companies
compensation commensurate with results. american ceo’s generally,
and global results (and comparisons) bear this out, are overpaid.
Oracle CEO tops list of highest paid execs with $1.8 billion (Washington
Post) Don’t just focus on him; american ceo’s generally, and global
results (and comparisons) bear this out, are overpaid.
D.C. area housing market a bright spot (Washington Post) Clearly a
contrarian indicator which means more in Washington doing nation’s
business; clearly a bad thing (more doing less, creating more
problems than solving, costing more for less, etc.).
Why Bernanke isn't advocating fiscal stimulus (Washington Post) I would

be inclined to say the obvious; that you can’t spend what you don’t
have; but, we all know that’s not true. Indeed, that’s become a
significant part of the problem and america’s defacto bankrupt status
a testament to that reality. Then there’s the over-printing of an ever
more worthless fiat currency which continues as ‘we speak’; and,
there are limits to that too as the dire results of same ultimately begin
to unfold.
Cities, counties could slash 500,000 more jobs (Washington Post) Could?
I’d say must. Particularly when you factor in that this election ‘spurt’
leaving the nation even more bankrupt is illusory. I had occasion
some time ago in speaking with a long-time California resident
(instructor at the college gym where I worked out) to express my
surprise at the bloated (municipal, state) high-priced bureaucracy
nearly 900,000 annually, and specifically mentioned the part-time
typical compensation of $100,000 and contracts to interested, even
familial, parties. Of course, no one has done this better than feinstein,
albeit on a more federal level and China contracts through her
husband’s companies, as previousl set forth on this website.

'Systemic risk' and preventing the next bubble (Washington Post) Come
on! We’re in the next bubble; or, should I say in the same bubble
inasmuch as the so-called ‘last bubble’ never totally deflated owing to
overactive Weimar dollar (now european) printing presses, fraudulent
mark to anything accounting among other manipulations, etc.; and a
less elastic (ready to burst) one at that.
This is quite incredible. The wobama market … based on b*** s*** alone.
Yes, there’s a waning full moon. Yes, this is an election year and we’ve
seen frothing, false data / reports before. But come on! This is downright
ridiculous. I had occasion to hear from a so-called money manager on what
used to be a balanced business / finance radio program (I seldom listen to
said program anymore, truth be told, but owing to a scheduling quirk
caught same this day) say that all the economic / business news last week
was good. In point of fact, the actual news was all bad (except for some
sporadic earnings reports that were discounted many months ago). What
parallel universe are these foisty feisty frauds living in? Again, waning full
moon Then the infamous federal but not really federal, express in only a
month (with blazing full moon) changed downward guidance to upward
guidance and based on b*** s***, and voila … another full moon rally (oh
yeah, the percentage up from low level housing still low). Are the 30 day
lunar cycles at work or just election year frothing? Preposterous.
Fundamentals have not changed. Structural problems to the economy and
insurmountable debt remain and will worsen. All their computer
programmed trading tricks with eye towards so-called technical support,
resistance, etc., levels will suck some suckers in as always, they’ll still get
their commissions on the way down, and we’ll see the bubble deflate again.
This is an especially great opportunity to sell and take whatever profits /

gains because there is truly much worse to come and the nation’s defacto
bankrupt in every way.
This Week in the Markets - Suttmeier ‘ …Bank Failure Friday – The FDIC
closed seven banks last Friday bringing the total for the month of July to
17 and 103 for the year. Month to date bank failures have drained the FDIC
Deposit Insurance fund by $925.7 million brining the year to date today to
$18.5 billion well above the $15.33 billion prepaid assessments for all of
2010. I estimate that the DIF is now in arrears by $32.7 billion.
• Only 25 banks failed in 2008, as the FDIC was slow closing

community and regional banks.
• There were 140 bank failures in 2009 with a peak of 50 in the third
quarter.
• In the first quarter of 2010 there were 41 failures, in the second
quarter there were 45 failures, and so far 17 for the third quarter for a
year to date total of 103.
• At this pace bank closures in 2010 will be within my 150 to 200
estimate range for 2010.
• Since the end of 2007, the FDIC has closed 267 banks on the way to
my predicted 500 to 800 by the end of 2012 into 2013 …’
103 U.S. Banks Have Collapsed So Far In 2010 – Do You Know If Your Bank
Will Survive? Have you ever noticed how almost all U.S. bank closings
are now announced over the weekend? It is almost as if someone
wants to keep the increasing number of bank closures out of the news
cycle as much as possible.
Jim Rogers: Stress Test Is a PR Exercise The stress test in which only
seven of 91 European Union banks failed is just a public relations
exercise and wasn’t tough enough, famous investor Jim Rogers told
CNBC.com Monday.
ETF Investing: S&P 500 ETF sending bearish signal …After hitting its 2010
peak in April, the $70 billion SPDR S&P 500
ETF(SPY 110.41, +0.95, +0.87%) has been in a downtrend punctuated
by fizzled low-volume rallies and lower highs.

Global bank rules deal struck (Washington Post) No action. Delay.

Obfuscate and ‘fraudulate’. Riiiiight! Sounds like a plan! Things are
going so fraudulently swimmingly with the many trillions of bad
paper / worthless assets still out there and in defacto bankrupt
american fashion now marked to anything. Don’t want to upset that
applecart; or rather, ‘something’ cart – apples are just to expensive for
street vending!
Financial Crisis Commission Threatens To Audit Goldman Sachs The

Financial Crisis Inquiry Commission headed up by Phil Angelides has
threatened to audit Goldman Sachs, as it looks for more data on its
dealing in derivatives. (They should! Forget the threats … Just do it
and prosecute!)
Goldman reveals where bailout cash went Des Moines Register | Goldman
Sachs sent $4.3 billion in federal tax money to 32 entities, including
many overseas banks, hedge funds and pensions.
The Death of Paper Money Ambrose Evans-Pritchard | As they prepare for

holiday reading in Tuscany, City bankers are buying up rare copies of an
obscure book on the mechanics of Weimar inflation published in 1974.
Yes! I just (7-24-10) looked up and a quandary no longer as I saw the
reason for the market action to the upside the last few sessions. A blazing
full moon! Lest there be any doubt, truly a testament to the reality of lunacy
and the lunar links thereto are the lunatic fraudulent rallies on fraudulent
wall street; criminally insane by any standard.

fined, and disgorgement imposed.
INSIDER TRANSACTIONS (Washington Post) Sell / Take profits / gains.

That’s what insiders do in contra-indicated stock bubbles as this (and
don’t forget, options must be executed and shares bought before
they’re sold).
Financial News: What's coming this week (Washington Post) What does it
matter? False data, manipulated data, spun data, even blatantly bad
data as in the past week. More important are the lunar cycles:
China builds influence via cash (Washington Post) Well, cash is something
that accumulates when you don’t spend same on illegal wars (as is so
of defacto bankrupt america, ie., Iraq, Afghanistan, etc.); note
Germany, Japan, etc.. Then there’s the ‘hate’ factor attendant to the
‘killing machine strategy’ which contrary to their folly / imagination,
does not win hearts and minds. Then there’s the fraudulent paper
push which militates against real, net economic gains.
Finally, there’s the american ‘crazy train’ factor which has become ever
more globally recognized.
'Tony Hayward is about to get his life back' (Washington Post) In Siberia …
Yes, tiny tony of little people fame sent into exile in Siberia as one
might expect from the New Soviet Socialist European Union. Note
Russia’s Putin has jumped onto that crazy train and to curry favor
therein has ‘thrown Iran under the bus’, so to speak. But, then again,
what can you expect from a former KGB indoctrinated communist,
although america’s now mutated form of capitalism / free enterprise
(really not either) might yet resurrect the likes of marx, lenin, trotsky,
etc.. I’m somewhat embarrassed to have even considered going to
Europe (specifically Switzerland / Geneva) and though language the
impediment (I’m hard-wired for english and even with a prior
background in French, ie., junior high, high school, recent course-
work in French here in Cal did not come easily at all; although,
computerization / algorithms in English from inception did, which I
believe explains Japan’s difficulty with computers, ie., Sony vaio,
Toyota car computerized systems, etc.). Even meaningfully lawless
america’s better than Europe (a very low standard / threshold at that),
for all the reasons that gave rise to america, plus new reasons which
will prove insurmountable having become the ‘lapdog’ joke of the
ages as like lemmings they followed fraudulent wall street’s, america’s
lead blindly into the abyss.
Who’s Barry Soetoro, wobama?POLLS: NEW LOWS FOR O.../The

Crucifixion of Stone/Gibson
Appearing On “The View” [More b*** s***!].
Drudgereport: GOLDMAN reveals where bailout cash went -- overseas

banks!
POLLS: NEW LOWS FOR O...
Gibbs Misleads Public on Obama's Broken Tax Pledge...
MORE CLAIMS OF RACE BIAS AT JUSTICE... Justice official quit
over the handling of a voter intimidation case against the New Black
Panther Party accused his former employer of instructing attorneys in
the civil rights division to ignore cases that involve black defendants
and white victims Cases against Wall Street lag despite Holder’s vows
to target financial fraud Obama broke promises ):



Top U.S. officer warns Afghan war will get worse
already done. What damage? To perceived reality as opposed to
reality? When you look at america’s pro-israel, self-destructive,
contra-indicated policies, including the hands off policy vis-à-vis
fraudulent wall street, you see the truth to what he says which is what
so many astute individuals are already thinking / realizing. How can
people continue to ignore the truth, to their own detriment Think about
it. Do you really think he would risk the typical onslaught if the same
weren’t true? ‘Director Oliver Stone has been forced to make a
grovelling apology over an anti-Semitic outburst. The double
Academy Award winner claimed that the Russians suffered more
during the Second World War and that there was a Jewish 'domination
of the media'. Stone also said that Jews had '****ed up' U.S. foreign
policy for years and suggested the British supported Hitler ...’ The
relentless attacks on Mel Gibson are of the same caliber and purpose;
suppression of truth!

creation of a Jewish state in Palestine, warned that, even though
failure to go along with the Zionists might cost President Truman the
states of New York, Pennsylvania, and California, it was about time
that somebody should pay some consideration to whether we might
not lose the United States. Mr. Forrestal was absolutely correct! Isn’t
that exactly what’s happened to defacto bankrupt america in
intractable decline.

ABROGATE THE CREATION OF THE NATION STATE OF ISRAEL IN
THE INTERESTS OF FAIRNESS, JUSTICE, PEACE AND PROSPECTIVE
BP's Hayward sent to Siberia; to leave as CEO; Russia job in works (AP)
Wikileaks’ War Logs Highlight Global Intelligence Facade Of ‘War On

Terror’
Wikileaks founder Julian Assange: more revelations to come
Law chief to probe KGB agent’s claim that David Kelly was ‘exterminated’
Top U.S. officer warns Afghan war will get worse NATO troops will die in
Afghanistan as violence mounts. Sounds like a plan!

Terror’ The Wikileaks Afghanistan War Logs, publicly released today,
highlight and corroborate what we already know about the “war on
terror” – it is a vast and decompartmentalised intelligence operation.
Wikileaks founder Julian Assange: more revelations to come The Wikileaks

founder, Julian Assange, said today that the organisation is working
through a “backlog” of further secret material and was expecting a
“substantial increase in submissions” from whistleblowers after one
of the biggest leaks inUS military history.
Law chief to probe KGB agent’s claim that David Kelly was ‘exterminated’ A
former Russian spy’s dossier which suggests that Government
scientist David Kelly was ‘ exterminated’ in a planned assassination is
being studied by the Attorney General.
Top U.S. officer warns Afghan war will get worse More NATO troops will
die in Afghanistan as violence mounts over the summer, but
Washington’s goal of turning the tide against the insurgency by year’s
end is within reach, the top U.S. military officer said on Sunday.
[Sounds like a plan!].
Wikileaks Docs Target Pakistan Kurt Nimmo | Pakistan is the new frontier of
the Forever War on Manufactured Terror.

Terror’ Steve Watson | The Wikileaks Afghanistan War Logs
corroborate what we already know about the vast intelligence
operation known as the “war on terror.”
H.R. 5741 Slave bill now in Committee Rob Dew | Slavery has a new name:
“Mandatory Service.”
Oath Breakers and the Age of Treason The Excavator | America was
covertly overthrown by a tight-knit group of criminal insiders.
Iran’s military leaders try to raise their nation’s confidence in the face a
possible attack Andrew Steele | Iran’s military leaders are trying to
reassure their people that the nation would stand strong against a
possible u.s. or israeli attack.
Goldman Sachs Names European Banks It Paid Amid AIG’s U.S.-Funded

Bailout Goldman Sachs Group Inc. said it made payments to banks
including Germany’s DZ Bank AG and Banco Santander SA of Spain
for mortgage-related losses as it received U.S. taxpayer funds through
theAmerican International Group Inc. bailout in 2008.
Kucinich, Ron Paul: Get US troops out of Pakistan Two US lawmakers — a

Republican and a Democrat — proposed a bill this week demanding
the withdrawal of all US troops in Pakistan, where they are conducting
covert operations against militants.
CNN Anchors Desperately Call For Crackdown on Bloggers Which They

Collectively View as a Threat to Their Information Blockade Anchors
Kyra Phillips and John Roberts discussed the “mixed blessing of the
internet,” and agreed that there should be a crackdown on
anonymous bloggers who disparage others on the internet, most of
whom deserve it.
Pentagon workers tied to child porn Federal investigators have identified

several dozen Pentagon officials and contractors with high-level
security clearances who allegedly purchased and downloaded child
pornography, including an undisclosed number who used their
government computers to obtain the illegal material, according to
investigative reports.
Infowars.com Censored in Greece An Infowars.com reader sent an email
today informing us that our website is no longer available in Greek
public libraries. Sarkozy Accused of Working for Israeli Intelligence
Gamal Nkrumah | A letter dispatched to French police officials late last
winter revealed that Sarkozy was recruited as an Israeli spy.
israeli official offers warnings (Washington Post) What about israel’s illegal
nukes, israeli/american war crimes, etc.. Next stop on the
israeli/american crazy train: Iran.
Ex-CIA chief: Strike on Iran seems more likely now (AP) House OK’s
possible Israeli raid on Iran Republicans in the US House of
Representatives have introduced a measure that would green-light a
possible Israeli bombing campaign against Iran. House OK’s
possible Israeli raid on Iran Republicans in the US House of
Representatives have introduced a measure that would green-light a
possible Israeli bombing campaign against Iran. Former CIA Boss:
Iran Attack “Inexorable” Kurt Nimmo | According to Michael Hayden, a
CIA boss under George W. Bush, Iran’s not having a nuke is just as
dangerous as it having one.
White House decries WikiLeaks' release of Afghan war documents Los

Angeles Times - National Security Advisor James Jones says the
disclosure could endanger lives and US security. The NY Times,
which received early access, says the documents point to Pakistan-
Taliban collusion. Wikileaks releases 92000 hidden Afghan war docs
Sydney Morning Herald Leaked Documents Shed Light on Afghan War
Wall Street Journal [How about the reality that the release of war
criminal american mad dogs on the rest of the world endangers lives
as well as world and u.s. security].
Army analyst linked to WikiLeaks hailed as antiwar hero: Many rally to

soldier's defense after disclosure of classified documents
(Washington Post) Indeed, if not him, then who. Pat Tillman, a late
convert to that position was fragged for it. Wobama, who was elected
in large part for it, has an irrevocably failed presidency for lack of it!
He is a hero inasmuch as quite possibly the magnitudes of the frauds
might be lessened and civilians spared the american induced ‘hell on
earth’!
Push to cut top brass causing much unease (Washington Post) [ Of ‘geese
and gold-plated eggs’ … I think only fables, cartoons, and nursery rhymes
are the means by which to convey the depth and seriousness of america’s
decline / bankruptcy. They really just don’t get it. Denial. Mental infirmity.
Outright stupidity. Whatever the reason, reality is what it is.
Grim Voter Mood Turns Grimmer... and others Economists Herald New
Great Depression … ] None of the Pentagon's spending cuts and budget
battles is causing more angst than Robert Gates's vow to trim number of
generals and admirals.
bit late for that. Congress extends war funding for Afghanistan
Disappearing Act: $8.7 Billion of Iraq Development Money Missing
Contracting industry anxious about Defense cutbacks (Washington Post)

[As well they should be inasmuch as in any rational / solvent nation,
they wouldn’t be spending what they don’t have. Defacto bankrupt
america, spends what it really doesn’t have in amounts exceeding
more than the defense / military spending of all other nations in the
world combined. Yes; at long last, the entitlement programs of the
military industrial complex warned of by underrated President General
Eisenhower are in jeopardy. ]
Pentagon to cut thousands of jobs, defense secretary says (Washington

Post) [ Sure sounds like he means business; and, it’s certainly
somewhat reassuring to see a state almost as bad as mob infested
pervasively corrupt jersey, viz., virginia, take the hit (virginia is
predominantly government mob, much of which is cia at that). Yet,
one must be skeptical of what this perpetual-war, hot or cold, career
cia slug is actually accomplishing with these relatively small
peripheral cuts given the defacto bankrupt status of the nation. But,
this is one of those rare instances of something being better than
nothing since guns verses butter is real economic decision-making
and reality. ]
Petraeus: Strategy is on track (Washington Post) (What strategy? It just

gets worse. america’s defacto bankrupt! Plus, we’ve heard this before!
Drudgereport: Petraeus: 'We're doing everything we can' …[Sounds like a
plan!]...Builds Case for 'Success' in Afghanistan …[If only words could
make it so!]...) In Washington Post interview, general says he sees signs of
progress in Afghanistan, supports Obama's decision to begin withdrawing
troops next July.
Base in Kyrgyzstan remains on track (Washington Post) Sounds like a

plan! In Osh, no less; which similarity to Osh Kosh confers a certain
‘legitimacy’ to america’s self-destructive, nation-bankrupting non-
strategy of ‘being there’. A new raison d’etre, so to speak! Osh, Kosh,
be Gosh!
Karzai's bid to control inquiries worries U.S. (Washington Post) [My Lord!
You just can’t make this stuff up! The americanization of Afghanistan
… hopelessly corrupt … but american ‘liberators’ want their cut from
the now hopelessly corrupt liberated nation, in america’s own image,
of the heroin trade they’ve worked so hard to restore.] There is
growing concern that U.S. support for the war will diminish further if
voters continue to see the Afghan government as hopelessly corrupt.
Karzai wants private security firms out of Afghanistan: KARZAI WANTS

COMPANIES OUT U.S. calls 4-month deadline 'very challenging'
(Washington Post) One too many civilian killed. Maybe they figured
out that american non-strategy employing the Hegelian methodology
of creating problems that American firms can solve. Doomed to
failure, they eventually catch on. The bushes were famed for same but
wobama has foolishly been no slouch in this regard.
Afghans still see U.S. as bad guy (Washington Post ) [Riiiiight! Sounds like a
plan … winning hearts and minds throughout the world … great for exports
also as such ‘won hearts and minds’ just love to buy american.] American,
NATO forces retain blame for civilian deaths despite spike from insurgent
violence.
Stick with that winning plan that worked so swimmingly (as in drowning, in
ie., debt, death, regional if not wordly anti-american sentiment, etc.)]. In
Kandahar, U.S. military officials hope that a secure green zone, similar to
the area in Baghdad, will make it more difficult for Taliban insurgents to
mount attacks to key buildings in the Afghan city.

failure. Celebritology Weekend: Angelina Jolie biography
arrives(Washington Post ) I usually don’t weigh in on entertainment
news, but this headline concerning what appears to be a disparaging,
and quite selectively so, purported biography of Angelina Jolie is very
disheartening when you consider the numerous instances of failed
leadership at nearly all very high levels of government having so
detrimental an impact on the world, that morton deems his time
appropriate to an actress who has actually tried to do good things
(U.N., etc.) without having to. Indeed, even her latest film ‘Salt’
(spectacular by any standard as is her performance – there are at least
2 winning sequels there with 4 the max and stretching it owing to age
– she puts all, and I mean all the ‘Bonds’ to shame) had an important
message in terms of the damage to this nation by a seemingly
endless, nation-bankrupting, anti-american (war criminal israelis
already, and quite correctly, globally hated) sentiment producing war
strategy that is neither strategy nor reasonably consistent with any
positive american goal / objective; but rather is such a debacle and
folly that the same could very well be one that only an enemy of
defacto bankrupt america could hatch and for the reasoning set forth
in the well-written / directed film. She astutely observed and talked
about the synchronicity of the film as juxtaposed to recent events
revealing that she is wiser than most in Washington.
bit late for that. Oh, right … they were busy spending money the
nation doesn’t have on other things. Congress extends war funding
for Afghanistan Baltimore Co. Independent Examiner | Congress voted
to extend funding for the war in Afghanistan by an additional $59
billion late on Tuesday. Disappearing Act: $8.7 Billion of Iraq
Development Money Missing Kurt Nimmo | Government says it is all
the fault of shoddy accounting practices. 3 U.S. troops die in Afghan
war's deadliest month (Washington Post 7-30-10) World News
Digest: a Worth it? 4 U.S. troops die in bomb blast in south
Afghanistan (AP, July 24, 2010) ‘There will be blood’ … whoops, that’s
oil, wrong movie theme. This one’s about heroin trade. 2 More
Americans killed in copter crash in Afghanistan (AP) Not so much,
unless they rename Tony Montana, to To Mon el Swahili and recut
‘Scarface’ to reflect an Aghanistan Heroin connection, or similarly
change ‘Hurt Locker’. It’s a good thing for the military that IQ tests
aren’t required. Three U.S. Embassy guards killed in rocket attack in
Baghdad's Green Zone (Washington Post) Big yes there since ‘The
Green Zone’ got Hollywood movie status. Bomb near Iraq mosque
kills 15; U.S. soldier dies in road blast (Washington Post, July 22,
2010) But guess what … none of that’s worth it; even for volunteer
soldiers whose suicide rate is unprecedented owing to this pointless,
meaningless conflagration for the sake of the military industrial
complex and the enrichment of the few; and, to which Pat Tillman was
to attest which got him fragged.
Obama reminds veterans he's beginning war's end (Washington Post)

Sounds like a plan! I mean, after all you must have a beginning before
you have an end. Yeah, there’s a certain ineluctable logic to that; a
certain ‘ring’ to it! Like full circuit ‘b*** s***!

Oh, come on! An israeli probe of an israeli massacre of civilians. Time for
israel to pay; for illegal nukes, for violations of international law, for
continued violations of u.n. resolutions, for provocations as pretexts to
sabotage peace talks, and on and on ad nauseum. Why does america
among other nations feel compelled to sacrifice themselves for the sake of
a global criminal nation with an insatiable greed and blood-thirst as israel?
Murder on the high seas JERUSALEM: Israeli marines stormed aid ships
bound for Gaza on Monday and at least 10 rights activists were killed,
triggering a diplomatic crisis and an emergency session of the UN
Security Council. European nations, as well as the United Nations and
Turkey, voiced shock and outrage at the bloody end to the
international campaigners' bid to break Israel's blockade of the Gaza
Strip
How does anyone take the u.s. seriously in light of their credibility
problems, war crimes, etc.? What nuke technology israel didn’t steal
from the u.s., the u.s. gave them along with missile, armaments, etc..
and paid for with taxpayer money that u.s. taxpayers and the defacto
bankrupt nation don’t have.
It's time to expel israel from the UN Without doubt, the israeli attack on the
Gaza-bound "Freedom Flotilla" in the dawn of Monday, May 31, 2010 is
one of the most savage crimes in recent history. It seems the ruling
power in Tel Aviv has been afflicted with a variant of mad cow
disease; otherwise, how could it be so cruel to unleash such a beastly
raid on the "Mavi Marmara," the Turkish flagship of a flotilla carrying
medical and humanitarian supplies to the hapless people of Gaza
Strip?
The israeli Spin-Machine in Overdrive: dershowitz to the Rescue? Armed

Israeli commandos, the elite of the elites, rappelled to the deck of a Turkish
ship carrying humanitarian relief supplies to the 1.5 million prisoners in the
Gaza concentration camp.


ISRAEL NOW IN FAVOR OF NUKES IN THE MIDDLE EAST IN SUDDEN
SHIFT IN POLICY TO FAVOR IRAN IN A VERY BIG WAY! ISRAEL SEES
THE LIGHT AND SIDES WITH IRAN ON NUCLEAR ISSUE;
ESSENTIALLY SAYS TO THE WORLD AND IRAN ‘TO PRESS ON WITH
NUCLEAR AMBITIONS’.
Girdles for men? (Washington Post) [ I’d say par for the course … of human
male evolution that is. After all, more and more peoples are referring
to the war mongering american male trend of warring on the far less
militarily capable, bullying if you will, as just a bunch of c***s. ]They
call it "men's shapewear," but ladies, we know that you know what
that really means. Spanx for Men debuted to such a success this year
that the company is coming out with a line of (gulp) bottoms for the
fall.
Rockefeller Study Envisages Future Dictatorship Controlled By Elite …

(Vegetables … Yes, Asparagus, not Broccoli) … Here’s the pathetic
news, however; it’s called reality: [Neanderthals, Humans Interbred,
DNA Proves Signs of Neanderthals Mating With Humans -
Neanderthals mated with some modern humans after all and left their
imprint in the human genome. Genome hints humans, Neanderthals
rolled in prehistoric hay You're a Neanderthal: Genes say yes — a
little bit (AP) Neanderthals and people interbred, fossil analysis finds
For more info on man’s humble beginnings, see here
http://www.albertpeia.com/anthroindex1.htm Previously I wrote:
FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories,
and the many like it, are old news and I subscribe to the more studied
view that there is no “missing link” per se and in my view they are
distinctions without significant differences. I previously wrote: [see
infra] and [Interestingly, my intuitive (but unstudied) thoughts prior to
closer examination of the compelling subject of Biological
Anthropology remain what I believe to be the correct scenario.
Specifically, very simply stated, for the most part, the more
“enlightened” (but not by much; by mutation, accident, luck,
intervention, etc.) left the unvarying confines of their Sub-Saharan
origins, experienced diverse new environs, challenges, etc.,
experienced what has been described (by neuroscientists,
psychologists, etc.) as neurogenesis in varying degrees and forms
thereby over time, which trait was selected for and is consistent with
the purported multi-regional evolutionary model which does not
overtly contradict ultimately, initial African origins. Races, sub-
species, missing links, etc., are subsumed in this very humbling and
sorrowful tale of the “dawn of man”.] [see infra] …] Global
pandemics that kill millions, mandatory quarantines, checkpoints,
biometric ID cards, and a world of top-down government control.
These things are not lifted from the latest sci-fi blockbuster movie,
they’re part of the Rockefeller Foundation’s vision for what the globe
might be like in 15-20 years’ time under a new world order tightly
controlled by the elite. [That’s getting awfully close to the outside
‘decades, not millennia or even centuries’].
Middle East Digest (Washington Post) Witnesses report Israeli airstrikes in

Gaza
Previous-Mideast Digest Israeli shelling kills 2 wounds 6 Gaza civilians:

at them … press on says fellow war criminal defacto bankrupt nation
america] israeli shellfire killed two Palestinian freedom fighters and
wounded six people, including a 10-year-old girl, in the Gaza Strip,
Palestinian medical workers and an official with a militant group said. An
israeli military spokeswoman said soldiers opened fire on militants
suspected of preparing to fire a rocket at them.
July becomes deadliest month for U.S. troops (Washington Post) Sounds
like plan! You know, the fraudulent wall street glass half full kind of
thing … lowering of costs of prospective medical, benefits, pension …
well, in truth, I’m not sayin’ that they said that, but you’re dreamin’ if
you don’t think they think like that. You know, the new ‘attention to
deficits disorder’ in light of the nation’s defacto bankruptcy. What a
total waste in every respect!
Comment on: Mideast Digest at 8/4/2010 5:44 AM EDT

Mideast Digest (Washington Post, August 4, 2010) Blowback’s a reality.
One that only fools would ignore, defacto bankrupt america. Time to throw
hated war criminal nation israel under the bus. Why should america
sacrifice itself for the war mongering israelis. They’d NEVER do that for
america. I’ve even heard analysts with regional expertise say that the
nation was better off under sadam.
Top Secret America: How the DOD does it (Washington Post) Does what?
Come On! You can’t take this guy seriously. First, he’s military; what do
you expect him to say. Second, he talks of wars as if they always have to
have one or be searching for one and we all know they “find” them. Finally,
he all but ignores what the underrated President General Eisenhower
warned of in the form of the unscrupulous, insatiably greedy
military/industrial complex which as colonel he but a very small cog in who
goes along to get along. The fact is also that they can’t be managed and
also that they don’t even try!
Afghanistan war deaths (Washington Post) What a colossal waste; the u.s.
might even spin this to a growth scenario, albeit in deaths. For General
Petraeus, battling corruption in Afghanistan is a priority (Washington Post)
If Betraeus is serious, he better look closer to home / u.s.!
SEC enforcers get to keep subpoena authority
NSA beats warrantless wiretap rap A Federal judge has dismissed a

complaint against the National Security Agency’s (NSA)
Corrupt u.s. courts / judges: Their lifetime plush appointments should be

abolished, which corrupt entities are unheard of in productive
societies as China, Japan, etc.. Time to abolish these drags on society
and eliminate their lifetime stipends and corrupt costly bureaucracies.
WikiLeaks documents cause little concern over public perception of war:

WikiLeaks documents cause little concern over public perception of war
(Washington Post) Of course not! That’s what defacto coup d’etat is all
about (even beyond their propaganda). The public, overwhelming against
these nation-bankrupting illegal wars (america is defacto bankrupt) which
fact propelled spineless incompetent vegetable wobama to the whitehouse,
has become irrelevant in their view,; but, not so fast as mass unrest is
afoot.
Ron Paul: After ‘CIA coup,’ agency ‘runs military’ US House Rep. Ron Paul
says the CIA has has in effect carried out a “coup” against the US
government, and the intelligence agency needs to be “taken out.” I also
personally believe there has been a defacto coup d’etat which has
manifested in various substantial, blatant, brazened frauds, ie., wall street,
missing 360 tons of $100 bills in Iraq, war profiteering, etc., without any
fear of prosecution, and of course concomitant decline for u.s. as the
treasury is looted. But I also believe its scope is beyond just the CIA with
many complicit within the corrupted 3 branches of u.s. government (fed
judges, us attorneys, illegal system, etc.) plus the military and private big
money, ie., Goldman Sachs / wall street men, etc., among other organized
crime. america is defacto bankrupt in every way!
In Iraq, $2.6B unaccounted for (Washington Post) [Daaah! Fog of war

frauds among others; the nation’s treasury pillaged and plundered; I’ve
previously commented here and included on my website
http://albertpeia.com , see infra] Pentagon can't account for how it spent
$2.6 billion of Iraqi oil proceeds, an IG report says.
Articles on Catherine Austin Fitts' Blog: http://solari.com

Billions over Baghdadby Donald L. Barlett and James B. Steele - Vanity
FairSeptember 2007
Those Who Blow Whistle on Contractor Fraud in Iraq Face
PenaltiesDeborah Hastings - APAugust 2007
Auditor Quits with NASA Finances in ChaosBy Arindam Nag and Deborah
ZabarenkoMay 15, 2004
The War on WasteCBS NewsCiting "cooked books" at DoD, Rumsfeld on
the missing $2.3 trillion, ... January 29, 2002
Military Stashes Covert Millions St. Petersburg TimesSeptember 28, 2003
Key Documents
U.S. Department of Defense Web Site "The technology revolution has
transformed organizations across the private sector, but not ours, not fully,
not yet. We are, as they say, tangled in our anchor chain. Our financial
systems are decades old. According to some estimates, we cannot track
$2.3 trillion in transactions. We cannot share information from floor to floor
in this building because it's stored on dozens of technological systems that
are inaccessible or incompatible."- Remarks as Delivered by Secretary of
Defense Donald H. Rumsfeld, The Pentagon, Monday, September 10, 2001
Independent Audit Report - Department of DefenseRe: $1.1 Trillion Missing
from DODFebruary 26, 2002
Testimony of the Inspector General - Department of Housing & Urban
DevelopmentRe: $59 Billion Missing from HUD March 22, 2000
Discrepancies in America's Accounts Hide a Black Hole By Daniel Gros,
Financial Times June 15, 2006
Road to Ruin by Eric Sprott, Sprott Asset Management Regarding the $11
Trillion Deficit in the US Government in FY 2004January 2005
U.S.' Missing $Trillions Make Mainstream At LastScoop Media's version of
the Chronicle Story with more links addedMay 26, 2003
Dillon, Read & Co. Inc. and the Aristocracy of Stock Profits by Catherine
Austin Fitts A case study of two teams each with competing visions for
America.April 2006
Estimate $3.3 Trillion Missing From U.S. Treasuryby Buddy Grizzard An
excellent overview integrating coverage by key investigative journalists
August 2002
Where is the Collateral? and So, Where is the Collateral?A two-part series
by Chris Sanders of Sanders Research Associates in London
These articles connect the dots between the missing money, the Where is
the Money? litigation, questionable HUD deals, and the impact on the
investment communityOctober 2003 and July 2004
U.S. "Could Be Going Bankrupt"by Edmund Conway, Economics EditorUK
TelegraphJuly 2006
whereisthemoney.org Web site documenting the missing money -- includes
petition, FAQs, Who's Who ... also available in Spanish

(Cases against Wall Street lag despite Holder’s vows to target

‘The Obama Deception’ Censored ‘In light of this development, I provide
an archived site version which appears to be complete

Web Site Archived FLV Version of Esoteric Agenda

http://albertpeia.com/esotericagenda.flv
SEC enforcers get to keep subpoena authority (Washington Post) I believe

that they should also be empowered to bring criminal charges
inasmuch as the doj and u.s. attorneys offices thereunder seem either
unwilling, lacking courage, incapable, without specific knowledge in
the securities field (inept), or just, as is my experience, plain corrupt,
politically motivated, and venal. This national decline, economic and
otherwise, will not end until justice is served and, ie., the wall street
frauds et als are criminally prosecuted, jailed, fined, and disgorgement
imposed.
FBI could get easier access to Internet data (Washington Post) I hope so; at
least as to my data; then there will be no excuse for lack of resolution
in accordance will meaningful law. The fact is, they already have the
relevant data under penalty of perjury on disk. Moreover, it’s been
assigned out here and I’ve once again offered to take a polygraph on
any and all matters.
There is really no way to rationalize or attempt to justify what america is /

has become since they have with open eyes chosen this contra-
indicated course of ineluctable decline, from illegal wars, to war
crimes, to backing war criminal nations as israel, to huge frauds, to
war profiteering, to illicit drug trafficking and money laundering, and
this list goes on and on …:
(Previously) I’d say this alito vs. wobama is a tempest in a teapot inasmuch
as alito is more than just a lightweight, hack, liar, fraud etc., as set forth in
the comments. alito is a criminal who should have served / should be
serving time in prison for obstruction of justice, bribery, among other RICO
violations. To alito, drug money is as green as corporate money and worth
his vote as well. In addition to being an inept [I looked in on the one mob
case he had brought, bungled, lost (accidently on purpose?) since I was
suing some mob-connected under RICO and the court (I had known /
previously met outside of court the judge Ackerman through a client) was
absolute bedlam and a total joke since incompetent corrupt alito brought in
all 20 mob defendants (rather than prosecute one or a few to flip them first)
who feigning illness had beds/cots in the courtroom along with their moans
during testimony and had the jury in stitches)] and corrupt (see below and
particularly the summary provided to the FBI under penalty of perjury [
ofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ] ) u.s.
attorney.
You’re naïve to think that the so-called supreme court is any different from
the rest of the meaningfully lawless and pervasively corrupt american
‘system’. I knew well an accomplished trial lawyer, fellow american college
of trial lawyers / and a bar examiner, who pondered from time to time
becoming a judge “so he’d never have to work again” – his words.
Some comments on alito…all appropriate:
Probably the worst appointment in one hundred years.
Posted by: mnjam
-----------------------
Really? That's a pretty sweeping statement to make about someone who's

only been on the court a short few years.
And I thought that liberals were in universal agreement that Clarence

Thomas was the worst appointment in all of history?
Posted by: blert | January 28, 2010 2:11 AM | Report abuse

----------------------------
Yes. Really. Alito is a total lightweight and hack. He makes Thomas look
like John Marshall or Oliver Wendell Holmes. I KNOW ALITO.
Posted by: mnjam | January 28, 2010 2:24 AM |
the loser here is alito.lost his composure not good for a judge especially
afederal or supreme justice .loser big time this will live with guy for a very
time.roberts and the other justices will have a talk with him that is a
given.this relly larger than o one day news cycle.
Posted by: donaldtucker | January 28, 2010 1:12 AM |
Should Alito resign or be impeached?

Posted by: jdmca | January 28, 2010 1:05 AM |
Manchurian Candidates: Supreme Court allows China and others unlimited
spending in US elections Greg Palast | Our future elections may come
down to a three-way battle between China, Saudi Arabia and Goldman
Sachs. Call For Immediate Arrest of 5 Supreme Court Justices for
Treason Gordon Duff | The bloated corpse we are creating in
Washington is emitting a stench we can no longer abide. The
aforesaid would be shocking to anyone without a modicum of
knowledge of the reality of pervasive corruption within the u.s. courts
themselves and america generally, including all three branches of the
u.s. government.
Rendition: Where the War on Terror Meets the War on Drugs Henningsen |
It’s time to ditch the policies we have come to tolerate for decades
before they consume what is left of our moral core. I’ve experienced
the corrupt inter-relationship of the government (all 3 corrupt
branches) and the illegal drug trade / obstruction of justice / bribery
first hand, particularly the courts / u.s. attorneys offices (ie., alito –
now u.s. supreme court justice – quid pro quo for his complicity /
cover-up), feds; see immediately after article excerpt for links /
summary.
…“Evidence points to aircraft – familiarly known as “torture taxis” –

used by the CIA to move captives seized in its kidnapping or
“extraordinary rendition” operations through Gatwick and other
airports in the EU being simultaneously used for drug distribution in
the Western hemisphere. A Gulfstream II jet aircraft N9875A
identified by the British Government and the European Parliament as
being involved in this traffic crashed in Mexico…” In 2004, another
torture taxi crashed in a field in Nicaragua with a ton of cocaine
aboard… Mexican soldiers found ..132 bags containing 3.3 metric
tons of cocaine. The origination of the Gulfstream’s flight is
unknown but it was destined for Cancun when it crash landed.
Again, here is the important point: that same Gulf Stream II was one
of the very same planes chartered to the CIA for the rendition of
suspected terrorists prisoners. Gulf Stream II crashed in Mexico with 3
tons of cocaine on board ..it should not be surprising that this illegal
practice of rendition has in some part, been used as a well-run
smokescreen for another borderless illegal operation- an extremely
lucrative international transfer and delivery of cash and
narcotics.,,These flights are not subject to regular customs checks,
inspections or normal regulations as they move seamlessly between
destinations in the US, Britain, Europe, Middle East, Central Asia,
Cuba and possibly through US bases in Turkey, Greece and
Morocco…
and eliminate their lifetime stipends and costly bureaucracies. Rules
of law mean nothing to these typically corrupt americans. Most,
including sam alito of the u.s. supreme court, concerning drug money
laundering and obstruction of justice in the 3rd circuit ( also maryanne
trump barry who covered-up drug money laundering through her
brother’s casinos in a civil RICO case) should have gone to or belong
in jail. Contrary to popular belief, they do it for the money, personal
money, big, cash, untraceable money. The fog of war is great for such
things (360 tons $100 bills flown into Iraq and missing, etc.).
[ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenalt
yofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ].


There must be such things as parallel universes (I don’t really believe that,
because there isn’t) or how else do you explain the disconnect
between reality, current and prospective, and the wet dreams posited
to keep the war funding / corporate welfare programs alive in
collectively what has already become a trillion dollar boondoggle (not
counting prospective medical costs, etc.) and promises to go much
higher. Even israel apologist Cohen of The Washington Post alludes
to the Vietnam analogy. However, even if there were real goals beyond
the poppy / heroin trade which the Taliban had all but eradicated
(there isn’t); even if america wasn’t defacto bankrupt (america is);
even if america wasn’t killing innocent civilians in large numbers (war
criminal nation america is); even if america’s allies haven’t similarly
helped to bankrupt themselves by way of this war (they have); even if I
hadn’t told you so (I did) ….. this war still was, is, and remains a very
bad idea!
Afghan war overtakes Vietnam to become the longest conflict in U.S.
history Mail Online | The war entered its 104th month yesterday, with
30,000 American troops being deployed in the first half of this year
alone.
You think Iraq was bad? Invading Iran ‘would be lunacy’ Ivan Eland,
Director of the Center on Peace and Liberty at the Independent
Institute in Washington DC, gives his opinion on new sanctions
imposed on Iran.
I include the first two comments to the foregoing headline:
Billo Says:
June 11th, 2010 at 6:15 am
Lunacy? Keep in mind that this country is run and controlled by lunatics.
Our press government and military seem to take their orders from Israel.
Isarel wants to be known as a pack of “mad dogs. Do we want “mad dogs”
controlling us?
Here we see a bunch of phony accusations against Iran just like we did in
the run up to the bogus wars in Iraq, Afghanistan and now Pakistan. The
boy has cried wold ten thousand times. It’s time to identify the “lunatics”
and kindly take away the car keys. If you won’t let your friends drive drunk,
why do we let a bunch of “lunatic” enemies run this place.
Glen Reply:
June 11th, 2010 at 6:47 am
Lunacy it would be.
But it is also to their great credit that the Iranians have not made their own
threats.
Everyone knows there are 3 WMD threats, Nuclear Biological and chemical.
The scariest of which is Biological.
Any attack done under the threat of immediate biological retaliation would
deter only the insane.
Watch out america home of the insane, home of the leaders who want an
80% population reduction.
General McChrystal’s Burning Contempt for the Puppet Obama The farce
that is the war in Afghanistan is coming apart at the seams. General
Stanley McChrystal’s sharp comments about Obama, Biden, and the
administration published by Rolling Stone are not so much about
disrespect, as the script-reading corporate media talking heads would
have it, but rather about a policy in disarray in Afghanistan.
Gaza blockade illegal, must be lifted — UN rights official Israeli blockade

of Gaza unsustainable: White House US Jewish opinion and the
‘Beinart moment’ The controversial book, The Israel Lobby, in which
the political scientists, John Mearsheimer and Stephen Walt, argued
that US foreign policy has been hijacked by organized Zionism went
strangely unnoticed by the leading journal of American intellectual
opinion, the New York Review of Books. Doubts Grow Over Israel’s
Value as U.S. Ally Jim Lobe | The notion is that Israel and its actions
have since the Cold War increasingly become a “strategic liability” to
U.S. interests in the region.
Mideast Digest Israeli shelling kills 2 wounds 6 Gaza civilians:

A Plague Upon The World: The USA is a “Failed State” Dr. Paul Craig
Roberts | The American people are lost in la-la land. They have no idea that
their civil liberties have been forfeited. US citizen killed on flotilla
reportedly shot four times in head Raw Story | A forensic report said
Furkan Dogan was shot at close range, with four bullets in his head and
one in his chest, according to the Anatolian news agency. The explanation
foisted off on the americans by war criminal israelis is probably something
on the order of ‘they just wanted to make sure they missed him’.
Roberts: ‘AIPAC purchases US elections’ Russia Today | Paul Craig
Roberts says that there will be nothing that is going to be done by the
United States to change the relationship with Israel.
‘US funding terrorist group against Iran’ Press TV | A member of a terrorist
organization operating in Iran says that a US State department radio station
originally put him in touch with the group.
Paul Craig Roberts: Government Abandoned Vietnam POWs Kurt Nimmo |

John McCain worked overtime to make sure Vietnam POWs never came
home. I think the even bigger story vis-à-vis mccain is:
http://www.albertpeia.com/heroenot.htm ‘Did you know that that so-called
"american heroe" john mccain was referred to by his fellow pows in
Vietnam as something akin to the "songbird" inasmuch as he was
constantly "singing" to his Viet-Cong captors to curry favor and better
treatment? This has been documented with authority by Colonel David
Hackworth. The same violates military code/protocol (other soldiers have
been court-martialed for far less) click Here, Here. [
http://www.albertpeia.com/hackworth.htm ] But, you see, this covered up
scenario, compromizing the false facade of far less than a heroe, is exactly
what a criminal (lie of a) nation as america loves and encourages (get
everyone's hands dirty so no-one dares to rectify same, ie., bush, sr.,
clinton, bush, jr.). That is, "toe the (corrupt, propagandized) line", become a
criminal, or be exposed, prosecuted, and/or ruined; and, hasn't anyone
asked how "wall street" has been "spared the spotlight" (and even was
accorded protective legislation from their criminal culpability) and focus of
inquiry, attention, and prosecution despite being the primary beneficiaries
financial and otherwise of these scams (you know the wall street motto,
"churn and earn"; huge conflicts of interest if not outright fraud)…’
Coalition wants UK space lift-off [ Don’t make me laugh! ]
Israel’s Nukes Out of the Shadows Israel faces unprecedented pressure to
abandon its official policy of “ambiguity” on its possession of nuclear
weapons as the international community meets at the United Nations in
New York this week to consider banning such arsenals from the Middle
East.
NASA wants mission to bring Martian rocks to Earth (AP) Why? They
already have that and more:
weapon

video ...


host body.


Editorial: US in quagmire Seeing the warm welcome extended to the

Afghan president on his US trip, it is hard to believe that only weeks
ago Washington was seething with anger and frustration at Hamid
Karzai’s behavior and there were even dark mutterings by US officials
that he might be mad.
War in Afghanistan and Iraq costs America $1trillion From the Old | On May
30th at 10:06 the United States reached the point where they have
spent $1trillion on the wars in Afghanistan and Iraq. Sinking of the
Cheonan: A Classic False Flag Operation Russia Today | Sinking of
the warship was really intended to convince Japan not to move US
forces off Okinawa as well as divert the attention of Americans from
the dire economic situation at home. . Israel: IDF Troops Who
Murdered Unarmed Innocent People Are ‘Brave Heroes’ The
government of israel, aided by many quarters of the international
media, is attempting to spin today’s deadly IDF assault on a
humanitarian aid ship carrying supplies to Gaza as the fault of the
murdered activists on board the vessel, ludicrously characterizing
machine-gun carrying Israeli troops who killed over a dozen innocent
people as the victims of the incident.
Israeli American Microbiologist Linked to Deadly Fungus Kurt Nimmo | A

report links labs in the United States and Israel to the Cryptococcus
gatti fungus that has killed several people in the United States.
Iraqi doctors demand cancer probe Al Jazeera | Iraqi doctors believe

depleted uranium from US military equipment used in the 2003
invasion is spreading cancer through the population. [This is all too
true and real; and I’m surprised this hasn’t gotten more attention,
coverage … well, maybe not that surprised ].
"What this means is that Neanderthals are not totally extinct. In some of us,
they live on," Paabo … With regard to that extinction thing, I’d say
they’re still working on it (ultimately, decades, extinction, the
distinction, without a difference). Actually, prior to studying the
compelling subject of Biological Anthropology (Michael Park text), I
too had some misconceptions about the group known as Neandertals
(recent spelling drops the ‘h’) and actually mis-referenced same by the
stereotypical image of members of said clade even as the debate
continues as to whether they are within the species homo sapiens or a
separate species. I believe these to be distinctions without important
differences, so humble the origins and evolution of man truly are.
Parenthetically, I wonder what that anthropological scientist Heidi
Klum thinks on the subject.
Neanderthals, Humans Interbred, DNA Proves
Signs of Neanderthals Mating With Humans - Neanderthals mated with

some modern humans after all and left their imprint in the human
genome. Genome hints humans, Neanderthals rolled in prehistoric
hay You're a Neanderthal: Genes say yes — a little bit (AP)
Neanderthals and people interbred, fossil analysis finds For more info
on man’s humble beginnings, see here
http://www.albertpeia.com/anthroindex1.htm
Previously I wrote:
FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and
the many like it, are old news and I subscribe to the more studied view
that there is no “missing link” per se and in my view they are
distinctions without significant differences. I previously wrote:
To Learn More About From Whence Man Came, This Link's For You
[To the Professor at the beginning of the course]
10-5-09 Postscript: Professor *****,

I felt compelled to thank you again for the add; not to curry your favor but
indeed to express profound thanks inasmuch as this is probably the last
formal course at a formal educational institution I'll ever take; and among
the most important. While I had bought at discount a library-discarded 1993
Anthropology by Embers text, though meaning to read same never quite
got to it. I am astounded by the substantial amount of time involved in the
evolutionary process, not that I ever stopped to think about it, and one
must come away with the sense of 'and all that...for this?'. This course
should be required curriculum along with psychology, sociology, etc., but
probably won't be owing to what is, as it should be, a very humbling
educational experience for any member of the human race.
Regards,
Al Peia
[Interestingly, my intuitive (but unstudied) thoughts prior to closer

examination of the compelling subject of Biological Anthropology
remain what I believe to be the correct scenario. Specifically, very
simply stated, for the most part, the more “enlightened” (but not by
much; by mutation, accident, luck, intervention, etc.) left the
unvarying confines of their Sub-Saharan origins, experienced diverse
new environs, challenges, etc., experienced what has been described
(by neuroscientists, psychologists, etc.) as neurogenesis in varying
degrees and forms thereby over time, which trait was selected for and
is consistent with the purported multi-regional evolutionary model
which does not overtly contradict ultimately, initial African origins.
Races, sub-species, missing links, etc., are subsumed in this very
humbling and sorrowful tale of the “dawn of man”.]
[Abolish the corrupt, costly, economically wasteful lifetime

extravagantly appointed federal courts - see RICO case [
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpe
naltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm
]
Don’t Tread On Me: A Refresher Course on the Constitution
Sen. Levin urges State Department to put Afghan Taliban on list of terror
groups (Washington Post) Oooooh! … Sounds like a plan … and
emanating from washington (and a thriving Michigan jew no less) …
who says they don’t do anything? … And, consistent with that
apocalyptic vision set forth in the Bible [albeit a book of truth from a
very limited perspective (for which literal interpretations are
misleading); after all, the Wise Men thought it was a movable star that
was guiding them and shone the bright ‘spotlight’ upon the manger
with the Christ]; the jews and some other entity against the rest of the
world for that final Armageddon … oh, they’ll make that happen … it
gets them through their day with every step closer to apocalypse but
not to the place called heaven will they go. The end of this world? You
might say america / israel / and theirs are feverishly working on just
that, one way or another!
Roman Polanski freed after Swiss reject U.S. extradition request

(Washington Post, July 13, 2010) Without diminishing in any way the
seriousness of the crime, this result is the direct consequence of the
growing global recognition of the pervasiveness of corruption in
american courts, state and federal, and america generally; so much
so, that said corrupt american courts cannot be relied on anywhere,
anytime. Indeed, my own sampling, though hardly random to be
candid, is 5 for 5 (new jersey, new york, connecticut, virginia,
california) pervasively and egregiously corrupt to the point where
these costly, corrupt bureaucracies should be abolished and
supplanted with alternatives as I’ve previously set forth in these
comments.
BUDGET CRISIS PUTS LOS ANGELES COURT SYSTEM AT

RISK ... [Judge sends Lohan to jail for probation violation (AP) –
They got her! That globe-trotting danger / threat to society, the
infamous public enemy Lindsey Lohan. Guess she couldn’t cough
up that direct or indirect bribe. How pathetic these corrupt, kangaroo
courts are! If only she was a drug dealer, armed robber, etc., she
would have had the pre-paid connections to avoid this preposterous
(known substantial criminals walk about freely, without fear)
outcome. This, even as they are releasing substantial felons owing
to budgetary considerations. ] ABOLISH THE CORRUPT,
ECONOMICALLY WASTEFUL SO-CALLED SYSTEM, FROM MY
DIRECT OBSERVATION AND EXPERIENCE . (PREVIOUSLY
ARCHIVED) HOWEVER, THIS LATEST "CALIFORNIA/LA
DISTRACTION" REQUIRES ELUCIDATION AS FOLLOWS:
· Response to App. Div. OSC
· STATE OF CALIFORNIA ethics complaint
· Response to Sup.Ct. OSC
· designation of record on appeal
· The so-called "order" appealed from.

How embarrassing for the superior court of the state of california!
· Typical corrupt banana republic america/california court
Dirty money digitally laundered … a wall street, atlantic city, and

american story … a very bad one and [also see RICO case
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderp
enaltyofperjury.pdf
] Fraud: It’s Much Bigger Than Goldman Sachs Regulatory
reform debate obscures key fact: Everybody’s getting money bribes
from Wall Street
Blagojevich calls feds 'cowards and liars'…[Yes. This is a rare

moment for one to say that a sleazy hypocrite like blago, who is on
corrupt federale-connected mobster trump’s celebrity apprentice,
happens to be correct based upon facts / reality and my own direct
observation and experience and the law – Don’t forget to include
corrupt federal judges as maryanne trump barry, sam alito, shiff,
matz, hall, underhill, dorsey, etc.. Defacto bankrupt america’s so-
called system is pervasively corrupt and broken] (AP) [Abolish the
corrupt, costly, economically wasteful lifetime extravagantly
appointed federal courts - see RICO case [
naltyofperjury.pdf
]
No shame, just blame (Washington Post) Come on! This is america today.
Look at wobama … lied his way in and no shame … typical …
criticism just like water off a duck’s back. I think he’s content to be a
failed president just so he can do as he does best on the speaking
tours as a retiree from the office … b*** s***! They’re all the same.
Legislated raises for themselves in congress as the nation was
bleeding jobs, legislated NAFTA and gave huge wall street frauds
money and still no pros, but that’s where the campaign funds are. No
guts! Pervasively corrupt and meaningfully lawless, america’s done!
And america’s defacto bankrupt in every way.
Executive compensation 'ill-advised,' pay czar says (Washington Post) But,

as with prosecutions thus far, does nothing. The american companies
have failed, but their compensation check writing has not.
MORE CLAIMS OF RACE BIAS AT JUSTICE... Justice official quit
over the handling of a voter intimidation case against the New Black
and white victims Cases against Wall Street lag despite Holder’s vows
to target financial fraud Obama broke promises ):


How much is $1.4 trillion? | Doing the math (Washington Post) Math? How
plebian a task on capital hill. I think the lack thereof is as much a lack of
aptitude / intelligence as it is a lack of will. And, this is a bi-partisan foible.
According to the Debt Clock (approx. two months ago):
• Total national debt: $13 trillion (near 13.3 now)

• Debt per citizen: $42,026
• Debt per taxpayer: $117,982
• Total interest due: $1.9 trillion
• Interest per citizen: $2,211
Click here to see the Debt Clock, which is updated every second.
• Total personal debt: $16.5 trillion

• Total mortgage debt: $14.1 trillion
• Total consumer debt: $2.45 trillion
• Personal debt per citizen: $53,483
• Debt held by foreign countries: $4.07 trillion
http://www.usdebtclock.org Get Real Time U.S. Debt Data
Big banks pass stress tests (Washington Post) They’ve swallowed the
american paradigm of fraud and b*** s***, hook, line, and sinker and
sink they will as yet another reason is manifest in the ‘death of the
west’ (as coined by Buchanan), displaced by emerging economies,
asia, most notably China, etc., where they tend not to lie to either
themselves or others. No wonder the failed ‘nation states of the west’
are joined at the hip in such ill-fated ventures as illegal wars, past and
present, among many other strategic blunders.
Deficit to exceed $1.4 trillion in 2010 and 2011 (Washington Post) Sounds
like a plan! … However, unlike other american plans, this is one that
they’re sure to accomplish!
Jobless claims jump higher than expected (Washington Post) Sounds like
a reason for a feel good rally on fraudulent wall street, however ephemeral.

the latest.
They ensured financial regulation overhaul (Washington Post) What

overhaul? New bureaucracy, more power to the fed and corrupt
incompetents as tiny tim geithner (that $4 trillion’s still missing from the ny
fed), no recession helicopter ben bernanke, perps scot free and keep their
loot, etc.. Real reform requires that the wall street frauds et als be
Existing-home sales drop for second month (Washington Post) Bad

economic news … what better reason for a typically fraudulent suckers’
bear market, short-covering rally for the high-frequency computerized
churn-and-earn wall street frauds to commission and ultimately sell into.
Go to following pages for above links:

http://www.albertpeia.com/currentopics2ndqtr10108.htm
http://www.albertpeia.com
http://www.albertpeia.com/alresume.htm
http://www.albertpeia.com/wallstreetlunacy2ndqtr10108.htm
You may post a comment on my blog on any topic:

http://alpeiablog.blogspot.com
Worth it? Three U.S. Embassy guards killed in rocket attack in Baghdad's
Green Zone (Washington Post) Big yes here since ‘The Green Zone’
got Hollywood movie status. 2 More Americans killed in copter crash
in Afghanistan (AP) Not so much, unless they rename Tony Montana,
To Mon el Swahili and recut ‘Scarface’ to reflect an Aghanistan Heroin
connection, or similarly change ‘Hurt Locker’. It’s a good thing for the
military that IQ tests aren’t required.
netanayahu admits on video he deceived US to destroy Oslo accord The

contents of a secretly recorded video threaten to gravely embarrass
not only Benjamin netanayahu, the Israeli prime minister but also the
US administration of Barack Obama.


nightstick…’
move towards
The U.S. Economy Is A Dead Horse And The American People Are Starting
To Get Really Angry And Frustrated The economic frustration of the
american people is reaching a fever pitch. Millions of americans can’t
seem to get a good job no matter what they do.
Three of every four oil and gas lobbyists worked for federal government
(Washington Post) This is an important article but in no way should be
limited to the oil and gas industries even if disproportionate to the
upside, even as wall street has actually begun occupying capital hill in
a manner of speaking. The revolving-door standards and the functions
of ‘toll-bridge to taxpayer dollars’ must end. After all, you see, the
nation is defacto bankrupt! ‘Three out of every four lobbyists who
represent oil and gas companies previously worked in the federal
government, a proportion that far exceeds the usual revolving-door
standards on Capitol Hill, a Washington Post analysis shows’
Good credit isn't what it was (Washington Post) Gee! I thought this article
was about america, pre-defacto bankruptcy compared with now.
Leading Chinese Economists Urge Government To Dump U.S. Treasuries,

Buy Gold Prominent economists in China are calling for their
government to ditch vast holdings of U.S. Treasuries in favour of
tangible assets such as gold, a move that would have a far reaching
impact on the economy.
Bernanke: Fed ready to step in if economy falters (Washington Post) Step
in with what? Another two step (backwards)? They’ve ‘shot their wad’.
Moreover, they can’t print the ever more worthless Weimar dollars any
faster.
Stocks drop as Bernanke warns of uncertain economy (AP) One of those

daaah moments courtesy of ‘no recession helicopter ben fed’! On
the positive side, however, at least a semblance of reality is extant
as opposed to stroking the frauds on wall street to facilitate their
churn-and-earn high frequency trade scams (those lofty fraudulent
peaks provide room to trade in and are great to sell into).
Bernanke 'uncertain' about economy's outlook The Federal
Reserve chairman says the outlook for the economy is “unusually
uncertain” and that the central... Bernanke's economy comment
batters market (Reuters) - Reuters - Federal Reserve Chairman Ben
Bernanke's dour assessment of the U.S. recovery hit stocks on
Wednesday, as his comment that the economy faced "unusually
uncertain" prospects rattled investors.
U.S. financial reform bill also targets 'conflict minerals' (Washington Post)
The bill doth try to do too much, methinks. After all, look at Sub-
Saharan Africa generally … ‘mission impossible’ … and, with huge
crime rates in the ‘ states, I’d say ‘look homeward, hell’s angels’. Then
there’s the law of parsimony sometimes referred to as ‘Ockham’s
razor’ which as a logical approach generally says ‘keep it simple’, only
what’s necessary. Then, as well, there’s the defacto bankruptcy thing
for america which will preclude meeting domestic promises,
necessaries, and expectations. That’s reality along with the fact that:
‘This is a global depression. This is a secular bear market in a global
crashes.’ Being a ‘meat and potatoes’ kind of guy, I also feel that all
will be served if the frauds on wall street et als are criminally
prosecuted, jailed, fined, and disgorgement imposed.
Job growth slows in Washington region (Washington Post) Wow! Sounds

like a plan … a great plan, even … so long as the slowing’s on capital
hill / D.C. . And, that’s if you believe their fake numbers. I’ don’t! Real
Jobs, Fake Jobs In many ways, the unemployment numbers are much
worse than they appear. One factor has been the timing of the US
census.
Home building down 5 percent in June (Washington Post) Lunatic frauds
on wall street say, ‘well, it could have been a 20% decline and they’ll
take it (not really)’
A new front in racism battle (Washington Post) Truth be told, I’ve found
that all peoples are prejudiced / biased. Probably an adaptive
evolutionary relic that defies intellectual scrutiny, I’ve also found that
those peoples who claim to be victimized the most are themselves the
worst offenders despite their flaming rhetoric (there are numerous
other and even better examples but the following are news current):
a) UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... CIVIL

ignore cases that involve black defendants and white victims
b) Latino KKK: You are too white to be American! ALIPAC | Tan Klan
woman can scream racist comments because the Obama
administration and most of the major news networks in America have
her back.
c) DRUDGE: Arab guilty of rape after consensual sex with Jew... ‘An Israeli
man of Arab origin has been convicted of rape after having
consensual sex with a woman who had believed him to be a fellow
Jew.
DRUDGEREPORT: Arab guilty of rape after consensual sex with Jew... ‘An
Israeli man of Arab origin has been convicted of rape after having
consensual sex with a woman who had believed him to be a fellow Jew.
Sabbar Kashur, 30, was sentenced to 18 months in prison on Monday after
the court ruled that he was guilty of rape by deception. According to the
complaint filed by the woman with the Jerusalem district court, the two met
in downtown Jerusalem in September 2008 where Kashur, an Arab from
East Jerusalem, introduced himself as a Jewish bachelor seeking a serious
relationship. The two then had consensual sex in a nearby building before
Kashur left. When she later found out that he was not Jewish but an Arab,
she filed a criminal complaint for rape and indecent assault …’

The yardarm is the remedy Dozens of our friends and comrades, of

wonderful compassionate activists are dead and wounded in the pirate
attack in the high seas on humanitarian aid boats. This is a dreadful crime
that will forever be remembered and should be punished. The Israeli pirates
attacked the humanitarian aid Freedom Flotilla in the international waters
over 150 km out of their territorial waters. The boats carried no arms; the
participants strictly adhered to Ghandian mode by asking the Greek and
Cyprus authorities to search the boats to avoid later claims that they were
armed.
A Plague Upon The World: The USA is a “Failed State” Dr. Paul Craig
Roberts | The American people are lost in la-la land. They have no idea that
their civil liberties have been forfeited. US citizen killed on flotilla
reportedly shot four times in head Raw Story | A forensic report said
Furkan Dogan was shot at close range, with four bullets in his head and
one in his chest, according to the Anatolian news agency. The explanation
foisted off on the americans by war criminal israelis is probably something
on the order of ‘they just wanted to make sure they missed him’.
Roberts: ‘AIPAC purchases US elections’ Russia Today | Paul Craig
Roberts says that there will be nothing that is going to be done by the
United States to change the relationship with Israel.
‘US funding terrorist group against Iran’ Press TV | A member of a terrorist
organization operating in Iran says that a US State department radio station
originally put him in touch with the group.



OOOOH! ISRAEL NOW IN FAVOR OF NUKES IN THE MIDDLE EAST IN

SUDDEN SHIFT IN POLICY TO FAVOR IRAN IN A VERY BIG WAY! ISRAEL
SEES THE LIGHT AND SIDES WITH IRAN ON NUCLEAR ISSUE;

(Cases against Wall Street lag despite Holder’s vows to target

‘The Obama Deception’ Censored ‘In light of this development, I provide

an archived site version which appears to be complete

Web Site Archived FLV Version of Esoteric Agenda

http://albertpeia.com/esotericagenda.flv

ofperjury.pdf
attorney.
Posted by: mnjam
-----------------------



----------------------------


u.s. government.
government, and the intelligence agency needs to be “taken out.” I
also personally believe there has been a defacto coup d’etat which
has manifested in various substantial, blatant, brazened frauds, ie.,
wall street, missing 360 tons of $100 bills in Iraq, war profiteering, etc.,
without any fear of prosecution, and of course concomitant decline for
u.s. as the treasury is looted. But I also believe its scope is beyond
just the CIA with many complicit within the corrupted 3 branches of
u.s. government (fed judges, us attorneys, illegal system, etc.) plus
the military and private big money, ie., Goldman Sachs / wall street
men, etc., among other organized crime. america is defacto bankrupt
in every way!
bad idea!

alone.
Strip?

Israeli commandos, the elite of the elites, rappelled to the deck of a
Turkish ship carrying humanitarian relief supplies to the 1.5 million
prisoners in the Gaza concentration camp.
imposed on Iran.
Billo Says:
June 11th, 2010 at 6:15 am
controlling us?
Glen Reply:
June 11th, 2010 at 6:47 am
Lunacy it would be.
threats.

Russia accuses U.S. of kidnapping pilot (Washington Post) The lesson to

be learned here is don’t mess with american drug trade … they’ll ****
you up! That’s their drug money he’s takin’… riiiiight! … World
Digest: China Oil Spill; U.S. aid boat wants to sail to Gaza as 'The
Audacity of Hope' Rendition: Where the War on Terror Meets the War
on Drugs Henningsen | It’s time to ditch the policies we have come to
tolerate for decades before they consume what is left of our moral
core. I’ve experienced the corrupt inter-relationship of the government
(all 3 corrupt branches) and the illegal drug trade / obstruction of
justice / bribery first hand, particularly the courts / u.s. attorneys
offices (ie., alito – now u.s. supreme court justice – quid pro quo for
his complicity / cover-up), feds; see immediately after article excerpt
for links / summary.

Morocco…

yofperjury.pdf


abolished, which corrupt entities are unheard of in productive societies as China,
Japan, etc.. Time to abolish these drags on society and eliminate their lifetime
stipends and corrupt costly bureaucracies.

East.
weapon

video ...


host body.



Strip



Previously I wrote:

Regards,
Al Peia


naltyofperjury.pdf
]

supplanted with alternatives as I’ve previously set forth in these
comments.

· Response to App. Div. OSC
· STATE OF CALIFORNIA ethics complaint
· Response to Sup.Ct. OSC
· designation of record on appeal
· The so-called "order" appealed from.

· Typical corrupt banana republic america/california court

enaltyofperjury.pdf
from Wall Street

naltyofperjury.pdf
]


U.N. official calls Ban's leadership 'deplorable' (Washington Post) As long

as she’s looking in the mirror as she speaks … we’ll buy it! After all,
they’ve all but ignored illegal israeli nukes, israeli violations of
international law / u.n. resolutions, etc., even as they bully Iran.
Collectively, the u.s. has indeed become a joke.
Mideast DIGEST (Washington Post, July 19, 2010) netanayahu admits on

video he deceived US to destroy Oslo accord The contents of a secretly
recorded video threaten to gravely embarrass not only Benjamin
netanayahu, the Israeli prime minister but also the US administration of
Barack Obama.
A lost fight to keep selling Chryslers (Washington Post) I realize it’s easy
to say after the fact, with hindsight, that I was always at a loss to
understand this very issue and such lack of understanding of the
dealer / manufacturer inter-relationships left me speechless; however,
the same always seemed counter-intuitive. Truth be told, however, I ‘m
a big fan of Cal Worthington here in California based solely (and
uniquely for me) on his television commercials in which the big cats
figure prominently in actual footage of him with them, along with him
riding bulls, killer whales, etc., and having very competitive advertised
prices (He’s primarily Ford but sells them all).
The week ahead in business (Washington Post) Big week indeed for ‘no-
recession-helicopter-ben’ bernanke, the captain of that unsinkable
american economic Titanic who like the senile incompetent
predecessor alan green_spun quite a few contra-indicated yarns
himself!
Market Going Down With the Ship? Montgomery: ‘This morning the
Baltic Dry Index, a measure of freight rates for international shipping,
was at 1700. It hasn't been at this level since April 2009, only four
months after its Credit Crisis low and only one month after the stock
market was at its bottom. Bloomberg News noted a week ago that the
index had dropped continuously for the longest period in nine years.
Yes, the current drop in the preceding seven weeks (from a high of
4209 in late May) has been bigger than anything seen during the
Credit Crisis. The last drop of this magnitude was in August 2001 in
the middle of that year's recession. Lack of shipping activity from
China, the engine for global economic activity, was cited as the main
cause for the falling index. Charter rates for all types of ships tracked
in the index are falling. Prices for dry bulk shipping, which doesn't
include energy commodities, tend to be very sensitive to economic
activity. A sharp drop in rates indicates a significant drop in global
trade. Based on historical charts it looks like the Baltic Index can lead,
be coincident or lag movements in economic data and the stock
market. The index seems to be most closely correlated with prices of
industrial commodities and the industrial sector of the global
economy. While this is not the largest component of the U.S. economy
(the service sector is four times larger), it is the key sector in
developing economies. It was manufacturing though that had the
biggest rebound in the U.S. since last year. The service sector has
remained lackluster. The stock market will likely be following the
Baltic Index down, although perhaps not with such a precipitous
decline. The Index has dropped almost 60% since late May. With the
exception of the small cap Russell 2000, none of the major stock
indices have had even a 20% drop - at least not yet. Disclosure: No
positions.’
The Obama Deception Number 1 on U.S. Google Trends

‘The Obama Deception’ Censored A viral You Tube upload of one of Alex
Jones’ most popular feature films ‘The Obama Deception’ has been
censored following a spur of the moment campaign to elevate the
movie’s title to the top of the major internet search engines.
In light of this development, I provide an archived site version which

appears to be complete (but will be compared with earlier version and
replaced with same if incomplete)
Censorship Alert: Obama Deception Illegally Removed from You Tube
Drudgereport: IRELAND DOWNGRADED
move towards
Road Warrior-level collapse imminent: Alex Jones says we must take

corrective action now Move towards global currency as U.S. loses
status, faces depression and sees dangerous cuts to services as
economic instability sets in.
Week's gains erased; stocks drop as pessimism grips investors

(Washington Post) Reality, Really, Realistically does bite!

crashes.’
Regulators shut banks in Fla,(3) Mich,(1) SC(1) Total 2010 (96) (AP)
Financial stocks post worse loss since late May Equities
Tumble, Pressured by Earnings, Consumer Sentiment Stock
Indexes Slip Below Support Levels
Still great opportunity to sell / take profits since much worse, also called
reality beyond the b*** s***, to come.
Bank stress tests to shed light on Europe's economic health: Process
examines whether banks can take another punch to gut (Washington
Post) The ‘bad paper’ is still out there in the many trillions and in
criminally complicit fashion now marked to anything; and, they got
their share of the same and followed the American paridigm
concerning same, to their substantial detriment.
CNBC Host Accuses Guest Of Just Trying To Scare The Crap Out Of
Everyone CNBC’s Simon Hobbs fought it out with Michael Pento today
about the reality of the current economic situation in the U.S.
Real Jobs, Fake Jobs In many ways, the unemployment numbers are much
worse than they appear. One factor has been the timing of the US
census.
Charles Nenner: “Long-Term Investors Should Wait Until Dow Hits 5,000″
Charles Nenner, who prior to founding the Charles Nenner Research
Institute served as a technical analyst for Goldman for about 10 years,
has been looking at charts and not seeing much to write home about.
Martin Feldstein: Bilderberg’s promoter of equity on adjustable-rate

mortgages and the Subprime Mortgage Crisis Make it Eight, eh? | In
late 2007, as the housing crisis was hitting a peak, would Martin
Feldstein be gearing up to suggest further reductions in interest rates
to promote consumption?
Fed sends the dollar tumbling Ambrose Evans-Pritchard | The Fed

confessed that the US economy may not recover for five or six years.
A slap on the wrist for Goldman Sachs Aljazeera.net | The “great vampire
squid wrapped around the face of humanity” agreed to pay $550
million to settle fraud charges.
22 Statistics That Prove The Middle Class Is Being Systematically Wiped

Out Of Existence In America The 22 statistics that you are about to read
prove beyond a shadow of a doubt that the middle class is being
systematically wiped out of existence in America.
Congress Passes Bankster Consolidation Bill Kurt Nimmo | Financial

reform is a three-card Monte scam, a confidence game, a sleight of hand.
After Goldman, SEC eyes exotic financial products Video (Washington

Post) SEC’s Khuzami Says ‘Goldman’s Suit Should Send Message’:
dyn/content/video/2010/07/16/VI2010071602828.html
I disagree! Indeed, there have been and are a plethora of laws and ad hoc
prosecutions; but, particularly for the ‘risk seeker’ criminally insane
mentality on wall street, the same is far from a deterrent as seen from
historical perspective / fact and might even perversely provide for
them an incentive. The amount is relatively meager, but so long as
this settlement is as supposedly indicated to former SEC head by
Khuzami narrowly drawn and in no ways protective of goldman with
regard to the yet unresolved massive frauds in the many trillions, the
SEC should be given the benefit of the doubt. However, ‘turning its
attention to exotic financial products that MIGHT be used to harm
investors’ is troubling to say the least. Might? Who are they kidding.
The ‘bad paper’ is still out there in the many trillions and in criminally
complicit fashion now marked to anything. I further believe these
products of fraud and consequent damage are being surreptitiously
being, with corrupt fed help, supplanted with real, albeit fiat, currency
ultimately to citizens / taxpayers / nations detriment. As things
currently stand, particularly from the numbers, fraud by wall street
does pay; and pays well! Khuzami, a 29-year-old former employee in
Goldman Sachs Group Inc.'s business intelligence unit, had better
produce or appropriately find himself prosecuted for conflict,
collusion, etc.. After all, he’s hardly one to be considered unbiased.
The frauds on wall street et als must be criminally prosecuted, jailed,
fined, and disgorgement imposed. I truly believe that absent such
prosecution, there will be revolution in this country. In other words,
their ‘jig is up’ and they must go down for what they did / do.
Obama-Dodd-Frank FinReg Monstrosity Delays Derivatives Curbs

until 2022!
Wall Street Is Laundering Drug Money And Getting Away With It
They still know how to count. When you defraud for many billions, paying
$550 million is chump change. Goldman to pay $550M to settle civil fraud
charges (AP) Late stock rally ahead of Goldman settlement news And
the beat goes on! Goldman Sachs beats the SEC– ‘Can Goldman Sachs
Group Inc. wheel and deal or what? The bank and brokerage's settlement
with the Securities and Exchange Commission on Thursday over the ill-
fated Abacus deal may be its best trade ever. At $550 million, it's not
terribly expensive. (GS 152.19, +6.97, +4.80%) hasn't agreed to restrict its
practices in any meaningful way. And poof! The firm can go back to work
with its biggest liability paid. Investors are ecstatic, Goldman shares
rocketed 5.5% in after-hours trading. No wonder Goldman called it "the
right outcome for our firm shareholders and clients." See full story on the
SEC settlement. For the regulators, the settlement is more than just
anticlimactic. Having bet all of its chips on reversing embarrassing
episodes such as the Bernie Madoff fiasco in an aggressive case against
Wall Street, the SEC whiffed. Sure, the settlement is the biggest in the
agency's history. Yes, the SEC was able to squeeze Goldman on the
settlement language and admit it was a "mistake" not to have disclosed
Paulson & Co.'s role in picking the ill-fated securities. But come on.
Goldman's net income last year was $12.1 billion. It could be even higher
this year, given the robust first quarter Goldman already has had. The
settlement amounts to less than 5% of profits. Maybe Goldman Sachs will
even be able to write it off …’
Concern over smashing into the 'wall of debt' (Washington Post) Oh,
they’ve hit the wall alright; and, it’s not just debt.
I believe the printing presses have been working overtime to pump out
ever more worthless fiat currency and with the many trillions of
worthless fraudulent paper still out there and marked to anything. I
further believe the same is being surreptitiously used to supplant the
fraudulent paper, the consequences of which will be devastating, of
course, as is invariably so in depressions in any event. This scenario
would also mean huge fraud accomplis. This market is paper on paper
moving around and generating commissions at lightning
computerized speed but adding no real value in real economic terms;
again, the analogy of termites eating away at the (nation’s) foundation
is apposite. As such, that money has to come from some real place
and hence, the ever more frequent and larger crashes we are seeing.
Don’t forget that the worthless paper from previous such fraudulent
schemes now marked to anything is still out there in a magnitude
some have placed in the hundreds of trillions.
Biggest wall will be reality:

and insiders commission and sell into.’

instead of 2010.
latest.
2010 and 2012
Economists worry women, minority business owners' gains will be lost

(Washington Post) Little bit late for ‘economists worry’; talk about
senile greenspan / no-recession bernanke economics /
prognosticating. Does anybody recall the merciless drubbing (and
pressure) that Ross Perot got for predicting the ill effects of NAFTA
and standing against the tide. In america today, the best men never
win; that’s reality, and also the sign of decline.
Exports are up, but where are the jobs? (Washington Post) Gone with the
wind? Sorry, I must have been thinking of million dollar movies. Seriously
though, I dare say everyone knows they were gone with that ‘bi-partisan
executive / congressional, think-tank, cia / nsa ill wind’ that others might
refer to as flatulence / passing gas, also called NAFTA, and also proudly
hailed by the foregoing as ‘strategy’. They’re gone, and never to return.
Moreover, the flipside of the exports, viz., imports, doesn’t bode well
despite the fraudulent wall street b*** s*** and their chorus of cheerleaders
in washington. Some might say self-delusion but I would say fraud covers
all.
Companies pile up cash but still won't add jobs (Washington Post) Unlike
the public sector (which now exceeds private sector in job gains and
average compensation), the private sector attempts to mesh hiring with
economic supply / demand factors to maximize (shareholder) profits /
wealth. Whatever faults american companies have, with relatively few
exceptions, this still remains a very basic fundamental and building
surplus (generating profits) is a necessary precept to ensure survival and
the capacity to be a good ‘citizen’ so to speak. Then there’s reality:
Retail sales down for 2nd consecutive month (Washington Post) Another
‘Come on’ day on fraudulent wall street! This time it’s the unexpected
downward revision to previous market-frothing retail sales report and poor
retail sales and plunge in mortgage applications and then there’s the fed
minutes pointing to extended bad economy. See Dave Fry’s (Daily)
summary below referencing in euphemistic fashion, yet another ongoing
manipulation also known as fraud. (Absent prosecutions, they’ll continue
to do what comes natural to frauds on wall street). Great opportunity to sell
/ take profits since much worse, also called reality beyond the b*** s***, to
come. Then there’s also the bad but typical news; viz., retail sales,
mortgage apps, economic outlook down, and yesterday deficits, trade and
budget, up.
NATION NEWS DIGEST: J.P. Morgan Chase posts $4.8 billion profit
(Washington Post) Yet another ‘Come on’ day on fraudulent wall street!
This time it’s the unexpected jump in continuing claims for unemployment,
yesterday the downward revision to previous market-frothing retail sales
report and poor retail sales and plunge in mortgage applications and then
there’s the fed minutes pointing to extended bad economy. Then there’s
also now the ‘goldfinger factor’ as in goldman’s middle finger. When you
defraud for many billions, paying $550 million is chump change. Goldman
shares rocketed 5.5% in after-hours trading. No wonder Goldman called it
"the right outcome for our firm shareholders and clients." (Absent
prosecutions, they’ll continue to do what comes natural to frauds on wall
street). Great opportunity to sell / take profits since much worse, also
called reality beyond the b*** s***, to come. Then there’s also the bad but
typical news; viz., previous retail sales, mortgage apps, economic outlook
down, and continuing claims for unemployment, deficits, trade / budget,
up. (Just in: 7-16-10 Poll – only 43% of Americans approve of the
Afganistan War, down from 52% in January, 2010)
Pearlstein: Can regulation beget innovation? (Washington Post) I believe

the more seminal question to be, whether american companies, consistent
with overall american decline and corruption in so pervasive a fashion, are
capable of or inclined toward real innovation where enhancements to
productivity, as well as greater profits, is the consequence as desired.
Certainly there has been ‘innovation’ by the wall street frauds in the types
of (ultimately worthless / fraudulent) paper and high frequency trade
programs enhancing their bottom-lines but little else; and, those cutting
edge ‘weapons of mass destruction’ produced or financed (israel) by
america are hardly productive in the economic sense but innovative and
profitable in the short run, and unwise and nation-bankrupting in the longer
run which we’re in right now!
Goldman agrees to pay $550M (Washington Post) My own skepticism
based on the disparate numbers (the size of the frauds compared to
the relatively small fine) and as set forth in the initial reactions /
headlines that immediately follow has been allayed somewhat by an
interview on NBR with former SEC head Ruder who explained the very
narrow scope of the settlement which in no way shelters goldman
from the huge frauds they have perpetrated. So long as this is true in
fact as well as law and in application, the SEC deserves praise as has
been so under the auspices of ‘Mother Mary’ who appears to have the
gonads lacking in prior SEC heads. The frauds on wall street et als
should be criminally prosecuted, jailed, fined, and disgorgement
imposed.
Ex-Justice official: CIA may have exceeded limits (Washington Post) Wee
doggies! This sounds like the stuff that SNL Weekend Update ‘Really’ skits
are made of; also fitting into that list of queries as, ‘Is the Pope Catholic?’,
‘Do bears **** in the woods?’, etc.. Come on! Wake up! This is the kind of
complicit cover-up / corruption found betwixt and between all three
branches of the u.s. government leading ineluctably to america’s current
decline and to which I’ve attested under penalty of perjury in the context of
the RICO litigation [
ofperjury.pdf


For now, spew of oil into Gulf of Mexico is halted (Washington Post) Well,
thank God for small favors! I suggest they change that name, ‘integrity
test’; that’s doomed to end in failure. Yes, the brits are back. They’ve
clogged the well, with help from the ‘usual suspects’, the americans. What
precision! What teamwork! Victory at last … riiiiight!
What Does The Financial Reform Bill Do Other Than Being Completely And
Utterly Worthless? Is it possible to write a 2,300 page piece of
legislation that accomplishes next to nothing and is pretty much
completely and utterly worthless? The answer is yes.
U.S. Regulatory Bill Nears Passage With Republican Support The U.S.
Senate plans to pass the financial-regulation bill on July 15 as
Democrats secured the 60 votes needed to enact the biggest rewrite
of Wall Street rules since the Great Depression.
Bloomberg Poll Finds Americans No Longer Drinking Kool Aid, 71% See
Economy “Mired In Recession”
Fed Sees Slower Growth Wall Street Journal | Updated forecast to be

released Wednesday afternoon with the minutes of the Fed’s late-June
policy meeting is likely to show that officials have trimmed their
second-half forecasts.
Chinese rating agency strips Western nations of AAA status London

Telegraph
UK public sector debt ‘around £2 trillion’ London Telegraph | The UK’s

public sector debt could be £1.13 trillion higher than headline figures
suggest, according to research.
Moody’s Cuts Portugal Rating by Two Notches

24 multinationals move HQ to Shanghai CNTN | Vale, Walt Disney and Kraft

Foods have decided to move their regional headquarters to Shanghai.
House Democrats hit boiling point over perceived lack of White House
support
move towards
Public confidence in Obama reaches new low (Washington Post). Six in 10

Americans lack faith in Obama and hold lower esteem for members of
Congress, according to the latest Washington Post-ABC News poll.
Such stats as this tend to typify scenarios as this where you break
every significant campaign promise that got you elected, from
endless war (ie., Afghanistan, etc.) to not prosecuting the frauds on
wall street, and the growing realization of ‘typical’: Public confidence
in Obama reaches new low (Washington Post) Six in 10 Americans
lack faith in Obama and hold lower esteem for members of Congress,
according to the latest Washington Post-ABC News poll. Such stats as
this tend to typify scenarios as this where you break every significant
campaign promise that got you elected, from endless war (ie.,
Afghanistan, etc.) to not prosecuting the frauds on wall street, and the
growing realization of ‘typical’:
But still it’s ‘hands off fraudulent wall street’ to theirs, the nation’s, and the
world’s detriment. Firms subpoenaed in attempt to regain Fannie,
Freddie losses (Washington Post). But there’s a reason:
PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE... ‘In
emotional and personal testimony, an ex-Justice official who quit over
the handling of a voter intimidation case against the New Black
and white victims ...’ US v. AZ... Cases against Wall Street lag
despite Holder’s vows to target financial fraud Washington Post |
Obama has promised to hold Wall Street accountable for the
meltdown. ):

_from=PL&index=0&playnext=1 – well worth a look.
While boner and barton are indeed jokes / vegetables that bespeak the
single-digit approval rate for congress, obama’s failure to deliver on
promises with as well, endless war spending despite defacto
bankruptcy of the nation and a watered down nothing financial
regulation bill for talking points but little substance, make him as big a
joker. This well researched / produced video tells the real story :
http://www.youtube.com/watch?
_from=PL&index=0&playnext=1 ‘THE OBAMA DECEPTION’ – well
worth the view.

Pentagon warns Congress: Accounts running dry...(Drudgereport) Isn’t this

headline eerily reminiscent of that seminal B film by Roger Corman for
Jack Nicholson, ‘Little Shop of Horrors’ (and remake) wherein a murderous
vegetable / plant clamors incessantly and insatiably, ‘feed me’. Eight U.S.
service members killed in series of attacks in southern Afghanistan
(Washington Post, July 15, 2010) . This ridiculous war apparently for the
sake of the american sponsored reinvigorated heroin trade was a bad idea
ab initio even if america wasn’t defacto bankrupt.
Concern over smashing into the 'wall of debt' (Washington Post) Oh,
they’ve hit the wall alright; and, it’s not just debt.
I believe the printing presses have been working overtime to pump out
ever more worthless fiat currency and with the many trillions of
worthless fraudulent paper still out there and marked to anything. I
further believe the same is being surreptitiously used to supplant the
fraudulent paper, the consequences of which will be devastating, of
course, as is invariably so in depressions in any event. This scenario
would also mean huge fraud accomplis. This market is paper on paper
moving around and generating commissions at lightning
computerized speed but adding no real value in real economic terms;
again, the analogy of termites eating away at the (nation’s) foundation
is apposite. As such, that money has to come from some real place
and hence, the ever more frequent and larger crashes we are seeing.
schemes now marked to anything is still out there in a magnitude
some have placed in the hundreds of trillions.
Biggest wall will be reality:

and insiders commission and sell into.’

instead of 2010.
latest.
2010 and 2012
Economists worry women, minority business owners' gains will be lost

(Washington Post) Little bit late for ‘economists worry’; talk about
senile greenspan / no-recession bernanke economics /
prognosticating. Does anybody recall the merciless drubbing (and
pressure) that Ross Perot got for predicting the ill effects of NAFTA
and standing against the tide. In america today, the best men never
win; that’s reality, and also the sign of decline.
Exports are up, but where are the jobs? (Washington Post) Gone with the
wind? Sorry, I must have been thinking of million dollar movies. Seriously
though, I dare say everyone knows they were gone with that ‘bi-partisan
executive / congressional, think-tank, cia / nsa ill wind’ that others might
refer to as flatulence / passing gas, also called NAFTA, and also proudly
hailed by the foregoing as ‘strategy’. They’re gone, and never to return.
Moreover, the flipside of the exports, viz., imports, doesn’t bode well
despite the fraudulent wall street b*** s*** and their chorus of cheerleaders
in washington. Some might say self-delusion but I would say fraud covers
all.
Companies pile up cash but still won't add jobs (Washington Post) Unlike
the public sector (which now exceeds private sector in job gains and
average compensation), the private sector attempts to mesh hiring with
economic supply / demand factors to maximize (shareholder) profits /
wealth. Whatever faults american companies have, with relatively few
exceptions, this still remains a very basic fundamental and building
surplus (generating profits) is a necessary precept to ensure survival and
the capacity to be a good ‘citizen’ so to speak. Then there’s reality:
Retail sales down for 2nd consecutive month (Washington Post) Another
‘Come on’ day on fraudulent wall street! This time it’s the unexpected
downward revision to previous market-frothing retail sales report and poor
retail sales and plunge in mortgage applications and then there’s the fed
minutes pointing to extended bad economy. See Dave Fry’s (Daily)
summary below referencing in euphemistic fashion, yet another ongoing
manipulation also known as fraud. (Absent prosecutions, they’ll continue
to do what comes natural to frauds on wall street). Great opportunity to sell
/ take profits since much worse, also called reality beyond the b*** s***, to
come. Then there’s also the bad but typical news; viz., retail sales,
mortgage apps, economic outlook down, and yesterday deficits, trade and
budget, up.
Mideast Digest: Wow! Belfast, Northern Ireland; and in the Mideast Digest
Section, of all places. It’s been a long time. While I have had some
difficulties with Irish mob in the context of litigation but only
tangential to my primary RICO action vis-à-vis the Italian mob (and
similarly tangentially the jewish mob and then primarily what I learned
to be ‘governmental mob’, federal, state, local, derivative thereby and
the sine quo non of corruption / bribery / synergy that spells decline
for any nation), it is difficult to not be empathetic to the plight of an
otherwise beautiful nation tainted only by the orange stain in that
northern quarter. After all, what hasn’t england not mucked up from
balfour to the mideast to now even their own nation having hitched a
ride on the american / israeli crazy train. As a matter of disclosure, I
must admit to an affinity for the Irish and somewhat fairly recently had
been asked what I thought of Philadelphia to which without hesitation
I immediately replied that Grace Kelly (truly magnificent by any
standard) was born there. I could think of nothing else that could
parallel such a distinction.
WHICH WAY IS THE MARKET GOING NEXT? Gomes: ‘Having been a

technical analyst for the first 10 years of my investing career and a
fundamental analyst for the past 15 years, I'm a believer that technical
patterns form as fundamentals unfold. As such, if you know something
about both, you can confirm both against each other. At this point in time, I
see a market that is technically reaching up toward its 200 day moving
average (2,250 for the NASDAQ). I also see a 50 day moving average that is
threatening to drop below that 200 day moving average. Technically, that is
usually a very bad sign for the market. …
1) Economic indicators are dropping fast. For all intents and purposes, the
unemployment rate has not budged. Meanwhile, store shelves are stocked
again, PCs have been upgraded, etc. In other words, the pent-up demand
that drove the current rebound has almost run its course. What little
remains no longer has the power to drive the economy as it has over the
past 18-months.
2) "Follow the money". This is one of the most powerfully simple rules on
Wall Street. When money is flowing into the economy (i.e. via lower interest
rates or stimulus $$$), it's usually good for stocks..and vice versa. At
present, interest rates can't go much lower and the numerous stimulus
programs are losing effectiveness. This means that the money is no longer
flowing in. Worse yet, the money that was spent is not generally viewed as
having been money well spent. This does not bode well for a new stimulus
package to come anytime soon. In other words, money is not flowing in
AND doesn't appear poised to flow in anytime soon. In fact, state and
municipal budgets are being cut (money flowing OUT), while they raise
local sales and income taxes (more money flowing out). if federal taxes go
up in 2011, as planned, even more money will be flowing out. If you follow
that, you should be flowing out of the stock market. In short, barring a new
stimulus package of other major money-flowing event, I believe the
economy slips back toward recession. Whether or not we double-dip, we
will almost certainty slip in that direction.
3) If you follow the money in Europe, you will run for the hills. Europe has
decided to spin 180-degrees and shift from stimulus to austerity (if you
don't know the definition, look it up -- you'll likely hear it again -- and not
just from me). Effectively the opposite of stimulus, austerity will pull money
away from the European economies...which tells us to pull money away
from stocks. Worse yet, the effect of the EU/IMF bailout is already wearing
off. Greek yields are rising again and Portuguese credit ratings have been
reduced.
4) Global bubbles are bursting. Most notably, home sales in China and
Canada are starting to fall. Remember what happened when the U.S.
housing market cracked? That's right -- that's what started this mess in the
first place.
5) Politically, this period in time has a tendency to be bad for stocks. There
is uncertainty around the mid-year elections...and the market hates
uncertainty. Historically, the political picture doesn't become clear until
October, at which point we might expect a rally. Until then, expect the
democrats to do everything they can to retain their jobs in November. That
means, "stop pissing off the public"...and the public seems pretty pissed
about how the stimulus $$$ worked out for them (or more accurately, how
it DIDN'T work out for them). Thus, the political pressure will lean against
further stimulus until after the elections.
The Bottom Line: I believe that the market will start to reflect these
concerns very soon. These are real fundamental concerns, which you can
see reflected in the technicals. As the market reaches the 50DMA and the
200DMA, it will be inclined to retreat (barring some new, hugely positive
news). Meanwhile, the 50DMA is 90%+ likely to cross below the 200DMA,
giving the market more reason to retrench. At some point, if the economy
sinks far enough and if the market drops far enough, political pressure for
more stimulus will mount. At that point, money will flow back into the
economy. But that time is not now. Now, money is flowing away like the
tide...and so should your invested capital. I'm not always right, but I do my
best, based on the information before me. Based on what I see right now,
the most logical conclusion is to expect a long, ugly summer for stocks. If I
see information that changes that view, I'll be sure to post an update to this
post. Disclosure: I have short positions against the market
NAACP Resolution Designed to Wreck Tea Party Movement by Playing

Race Card Kurt Nimmo | The Tea Party movement is more popular
than either the Democratic or Republican parties, so it must be
destroyed.
Majority of Americans lack faith in Obama: poll Nearly 60 percent of

American voters say they lack faith in President Barack Obama,
according to a public opinion poll published on Tuesday.
Majority of Americans lack faith in Obama: poll Reuters | Nearly 60 percent

of American voters say they lack faith in President Barack Obama,
according to a public opinion poll published on Tuesday. Top anti-
war Democrat: Afghanistan war could ‘destroy’ Obama’s presidency
Raw Story | An outspoken anti-war Democrat said ongoing US military
efforts in Afghanistan could deeply imperil the presidency of Barack
Obama and the fortunes of the Democratic Party. Obama’s debt
commission warns of fiscal ‘cancer’ Washington Post | The
commission leaders said that, at present, federal revenue is fully
consumed by three programs: Social Security, Medicare and
Medicaid.
If not for the likes of ie., Dell Computer, most (ie., those die hard Mac,
Iphone, Ipad, etc., aficionados among others) would say microsoft’s
already in the clouds, so to speak. Microsoft takes aim at the cloud
(Washington Post)
No help in sight for jobless (Washington Post) Well, from their perspective,
they really don’t feel your pain, and, it gives the frauds on wall street
another b*** s***, market frothing, false talking point in the form of ‘fewer
continuing claims for unemployment’. Then there’s that ‘ depression thing’.
The big crash — America plunges into Depression Alexander Cockburn

and earn, pass the hot potato scam / fraud as in prior crashes.’
Making millions from mowing lawns [Sounds like a plan … riiiiight!]

(Washington Post) Value Added | Entrepreneur's reinvestment and
diversification … By Thomas Heath For the less entrepreneurial at heart
there’s always … flippin’ burgers … Washington, D.C.: the nation's (burger)
capital? (Washington Post) | ‘The Washington area has emerged as fertile
ground for ground chuck …’ Survey: A satisfied federal workforce
(Washington Post) Indeed they should be since they’re totally expendable
and a waste of taxpayer money.
Return of the No-Volume Melt-Up
Momentum Book Update: Trend Indicators Still Pointing Negative
Employment Picture Is Getting Bleaker
The Debt Party Is Over ‘… In a Ponzi scheme, the end comes when the
marginal investor decides to do something else with his money. Then the
house of cards stars falling apart. …’
Mattis: 'It's fun to shoot people' Washington Post - Ed O'Keefe - Jul 9, 2010
By Ed O'Keefe President Obama's pick to lead military operations in
Afghanistan, Iraq, Pakistan and the Middle East is an experienced
ground combat commander, but also earned a stern rebuke in 2005 for
controversial comments about combat operations. Gen. James
Mattis is named head of US Central Command Los Angeles Times
Blunt General Appointed to Lead Forces in Mideast New York Times
DRUDGEREPORT: BOMBSHELL: Media Mogul Mort Zuckerman Admits He

Wrote One Of Obama's Speeches...
Were White House Officials Ready to Expose Collaboration?
Zuckerman Now: Obama Barely Treading Water...
MICHELLE TELLS BLACKS TO 'INCREASE INTENSITY'
6 troops killed in Afghanistan...
DEM GOVS WARN: OBAMA SUIT VS. AZ IS 'TOXIC'
Debt panel has gloomy outlook...
Crisis Awaits World’s Banks as Trillions Come Due...
G20 looks to Beijing to drive global growth … They’re dreamin’! ...
They say ‘stocks oversold’. Preposterous! Stocks have been overbought

based on bad news or nothing at all, rallying on ‘not as bad as expected’.
Even if that were true (I don’t believe anything they say), who cares what
the criminally insane frauds on wall street say what they expect. It’s
fundamentals, economic and financial, that ultimately count; but, in the
meantime, they’re like termites eating away at the nation’s foundation with
lightning fast computerized trade programs, all of which excessively huge
commission churn / earn revenues are a net negative for the economy in
real economic terms which is evidenced by unprecedented economic
decline in all productive sectors of the economy. This is a great
opportunity to SELL / TAKE PROFITS since this suckers rally to suck
suckers in and keep them sucked in is based on fraud and b*** s*** alone
and: ‘This is a global depression. This is a secular bear market in a global
and earn pass the hot potato scam / fraud as in prior crashes.’
Technical Indicators Trigger Major Sell Signal ‘…In summary, the bearish
picture is confirmed by technical indicators, a fundamental outlook,
sentiment gauges, and valuations.Based on what the market considered
fair market valuations at prior historic market bottoms, one can conclude
how far stocks have to drop to reach the previously attained level of fair
valuations …’
Simon Maierhofer: ‘On Friday July 9, 2010, 4:32 pm EDT It rarely ever
happens, but when it does, it's serious. It has only happened nine times in
10 years. We are referring to crossovers between the 200-day and 50-day
simple moving averages (SMAs).Very few technical indicators receive as
much attention and media coverage as the 50 and 200-day SMAs. The 200-
day MA is perceived to be the dividing line between a stock that is
technically healthy and one that is not. It's a Big Deal It's a big deal when a
stock or an index drops below the 200-day SMA. It's an even bigger deal
when the 50-day SMA of any given stock or index drops below the 200-day
SMA. Such a crossover reflects internal weakness - at least in theory. We'll
discuss in a moment how the actual numbers match up with theoretic
assumptions. On June 22, 2010, the S&P 500 (SNP: ^GSPC) and Dow Jones
(DJI: ^DJI) dropped below the 200-day SMA. One day later the Nasdaq
(Nasdaq: ÎXIC) followed. On July 2, 2010, the 50-day SMA for the S&P
(NYSEArca: SPY - News) dropped below the 200-day SMA. On July 6, the
Dow Jones (NYSEArca: DIA - News) followed. As of today, the Nasdaq
(Nasdaq: QQQQ - News) is barely hanging on. This sounds like a
doomsday scenario. Does a rigid analysis show that there is validity to 200-
day and 50-day SMA crossover buy/sell signals? Let's
investigate.Crossovers - Lagging but Notable Many argue that the SMA
crossover is a delayed signal that emphasizes past weakness more than it
foreshadows future declines. To an extent, that is true. There are other
warning signals that point to a market turn long before the SMA does. For
example, on April 16, 2010, the ETF Profit Strategy Newsletter noted an
extremely low put/call ratio along with other bullish sentiment extremes.
The newsletter stated that 'the message conveyed by the composite
bullishness is unmistakably bearish. Once prices start to fall and investors
get afraid of incurring losses, the only option is to sell (due to the low
put/call ratio). Selling, results in more selling. This negative feedback loop
usually results in rapidly falling prices.' Prices did fall rapidly. The 22
trading days following the April 26 high, erased eight months worth of
gains. It took a 17% drop for the SMA crossover to trigger a sell signal.
When the ETF Profit Strategy Newsletter issued a strong buy signal on
March 2, 2009, it emphasized that the developing rally would be a counter
trend rally followed by a steep decline and maintained this viewpoint even
though prices kept rallying relentlessly into the April highs. The SMA
crossover now expresses the possibility that even lower prices are ahead.
200 and 50-day SMA Crossovers - How Accurate? How about the SMA
crossover track record? Over the past 10 years, there have been nine S&P
SMA crossovers with five sell and four buy signals. We have yet to see the
results of the most recent sell signal. However, of the eight previous
signals, six were correct. Average gains following each signal were 14.91%.
$10,000 invested according to the buy/sell recommendations given right
after the first sell signal was triggered on October 30, 2000 at S&P 1,399,
would be worth $24,769 today. More Than just Crossovers If it sounds too
good to be true, it often is. As is the case with so many technical
indicators, crossovers need to be viewed in context with other indicators.
In other words, take a step back and evaluate how crossovers fit into the
larger picture. The larger picture (going back to 2007) reveals that trading
volume associated with market declines has been generally high, while
trading volume seen during rallies has been generally low; a bearish sign.
Does Wednesday's 3.13% Rally Invalidate the Sell Signal? On Wednesday,
the S&P rallied 32 points or 3.13%. The Dow rallied 2.82%, while the Nasdaq
rallied 3.13%. Does this mean the bull market is back on track?Since the
April market top, we've seen about a handful of 2-3% bounces. All
associated gains were erased within a matter of days. Chances are this
time will be the same. In fact, some sort of bounce was to be expected. On
July 5, the ETF Profit Strategy Newsletter stated 'considering that the S&P
is butting against the 100-week SMA, lower accelerations band, 38.2%
Fibonacci retracement levels, round number resistance at 1,000, and
weekly s1 at 994, there is a good chance we will see some sort of a bounce
develop from the 990 - 1,015 area. Weekly r1 at 1,066 and pivot at 1,063
should serve as resistance.' This bounce is in its later stages right now.
What's Next? Let's revisit the larger picture. Out of the nine leading
industry sectors, seven have seen their 50-day SMA cross below the 200-
day SMA - financials (NYSEArca: XLF - News), technology (NYSEArca: XLK
- News), consumer staples (NYSEArca: XLP - News), materials (NYSEArca:
XLB - News), utilities (NYSEArca: XLU - News), energy (NYSEArca: XLE -
News) and healthcare (NYSEArca: XLV - News). The consumer
discretionary (NYSEArca: XLY - News) and industrial sector (NYSEArca:
XLI - News) are the only holdouts. All nine sectors, however, trade below
their 200-day SMA. Fundamentals, sentiment readings and valuations also
point south. Some of the fundamentals we have discussed in these pages
are crafty accounting practices designed to hide huge losses racked up by
big financial institutions not yet realized along with a continually bad
unemployment picture. Sentiment surrounding the April highs recorded
extremes not seen since the 2000, 2007, and even 1987 market top. There
are multiple sentiment measures (such as the VIX, cash allocation, put/call
ratio, percentage of bullish/bearish advisors, mutual fund cash levels, etc.).
Each sentiment measure is one piece of the puzzle. The more pieces of the
puzzle you have, the clearer the picture becomes. Leading up to the April
highs, nearly all sentiment indicators peaked, painting a complete bearish
picture. In summary, the bearish picture is confirmed by technical
indicators, a fundamental outlook, sentiment gauges, and valuations.
Based on what the market considered fair market valuations at prior
historic market bottoms, one can conclude how far stocks have to drop to
reach the previously attained level of fair valuations. The ETF Profit
Strategy Newsletter includes a detailed analysis of four valuation metrics
with a track record of accuracy, along with the implied target range for an
ultimate market bottom. This is provided in addition to its short, mid and
long-term forecast. When the market speaks, it behooves investors to
listen. Fighting the tape has often proven to be foolish, as the market will
always have the final word.’
A Market Forecast That Says ‘Take Cover’ New York Times | We have
entered a market decline of staggering proportions — perhaps the biggest
of the last 300 years.
Commercial Real Estate Loans Extend and Pretend ‘…Courtesy of

Thomson / Reuters Commercial Real Estate Loans – Extend and Pretend
Community banks have commercial real estate loans where the borrower
cannot make scheduled interest and principle payments. More than 50% of
all FDIC-insured institutions have loan pipelines that are 80% to 100%
funded. This is a measure of how banks are stuck with noncurrent assets,
but they are not classified that way. Instead, community banks are giving
borrowers more time to make their payments on the theory that it’s better
to collect zero on some loans rather than owning the real estate that
collateralizes those loans. This concept is dubbed “extend and pretend”
hoping that the borrower will eventual pay the loan back. Banks in this
practice are known as “Zombie Banks” as they can’t lend, can’t lure in new
investors, and wait for the FDIC to knock on their doors on Friday
afternoon. This strategy includes stretching out loan maturities and
allowing below-market interest rates to slow the number of defaults and
preserving the capital of banks that would be expended if property had to
become “Other Real Estate Owned.” As a result “Loans 30 to 89 Days in
Arrears” and “Noncurrent” loans are not growing as fast as they should be.
The net result of these practices masks the true toxicity of the Commercial
Real Estate market. It’s not just the small banks that are employing “extend
and pretend” tactics. I read that the Bank of America (BAC) has extended a
large real estate loan in Buckhead, Georgia the high-class area north of
Atlanta. The loan finances the development of a high-end shopping and
residential project in 2007 and now three years later the cranes are silent
and the project is fenced in. The banking regulators are helping the banks
by allowing the lenders several ways to restructure loans. While doing so
the banks are allowed to keep these loans as “performing” even with
collateral values below the loan amounts. Extend and pretend is also
known as kicking the can down the road. It seems to me that we have
wasted billions if not trillions in stimulus money and bank bailouts when
this money could have been used to actually fund the completion of these
projects. Such a plan would have cost tax payers much less and would
have kept Americans working on Main Street USA, as finishing incompleted
real estate projects are clearly “shovel ready” projects. According to
Foresight Analytics banks hold $176 billion of CRE loans that could be
declared toxic. This is the tip of the iceberg as the FDIC Quarterly Banking
Profile shows $1.09 trillion in nonfarm nonresidential real estate loans and
$418 billion in Construction & Development loans on the books of our
nation’s banks. About two-thirds of the CRE loans are maturing between
now and 2014, and are underwater. Commercial real estate property values
are down 42% from the October 2007 peak. At the end of the first quarter
9.1% are delinquent up from 7% a year earlier. Bankers justify “extend and
pretend” saying that it’s better than calling the loan and dumping more
property on a depressed market. We need a stronger economy to entice
new investors to resurrect projects and to find new demand for competed
offices, hotels, condos etc which are the finished products of completed
CRE projects. Without a strong economic recovery these loans will
eventually have to be written off down the road. The problem is that while
these loans are on hold banks can’t justify new loans, which would be the
engine of economic growth. And the beat goes on. Disclosure: No
positions’
Light Volume Temptations: Dave's Daily ‘Volume still matters, doesn't it? It
seems not as the financial media ignores our light volume market in favor
of writing bullish headlines. With hedge funds mostly sidelined according
to reports posted here yesterday, the primary buyers must be trading
desks on Wall Street and a handful of algo traders. It's tempting to come off
the sidelines and join the fun but perhaps it's just the trap they're laying for
you. A headline at Reuters read this afternoon: "Weaker Economic Views
Equals Stronger 3-Year Note Sale". So, if equity markets are forward-
looking one must wonder what these few buyers are seeing beyond a
short-term trade. Headline writers say its strong earnings growth that will
prop markets coupled with rosy outlooks. That would have to be the case
otherwise this is just a sucker's rally. As stated, volume was holiday-like
light (40% below average) making it really easy for the machines to take
over trading, and so they did ... ‘
Economists, Financial Experts: U.S. Is Trapped In 1932 Size Depression

Following Nobel Laureate Paul Krugman’s declaration last week that
the U.S. is in entering a third period of great depression, more and
more economists are following suit, comparing the scale of the crisis
to that of the early 1930s.
Ahmadinejad brands US world’s dictator ahead of summit
David Icke onTV: Humanity’s Last Chance Infowars.com | Alex talks with
writer, public speaker, and former well-known BBC television sports
presenter David Icke. As the United States Collapses, Media
Worships LeBron James Infowars gives the inside scoop on
basketball MVP LeBron James’ pivotal trade decision. America Is
In A Societal Meltdown Chuck Baldwin | America is in the midst of a
complete and total spiritual, societal, cultural, moral, and political
meltdown. Obama Selects General Who Likes Killing Muslims to
Centcom Kurt Nimmo | Gen. Mattis has the same habit of speaking his
mind as McCrystal.
The Lights Are Going Out For Free Speech On The Internet Type the
keywords “Internet censorship” into Google News and you will
immediately understand to what degree the world wide web is under
assault from attempts by governments globally to regulate and stifle
free speech. From Australia to Belarus, from Turkey to Vietnam, from
Pakistan to Egypt, from Afghanistan to Iran, huge chunks of the
Internet are going dark as the Chinese model of Internet regulation is
adopted worldwide. [Has everybody lost their minds? Referring to the
china model as something to be emulated. It’s true they are more
productive than america, generally, but their business model is almost
prehistoric and the direct consequence of the great american sell-out
for money (the ‘pass through’ or direct) by those who’ve pledged
otherwise (walmart, congress, clinton, bush, wobama, etc.). Even
some of their simplest products are junk (but priced incredibly low to
make the relative value) and seem to have adopted that GM strategy of
planned obsolescence, breakdown, etc., to spur sales. Then there’s
the communist faux capitalism paradox, suppression, oppression,
etc., which has even the defacto bankrupt, pervasively corrupt, fallen
america blindly following. Quite simply, their ancient business model
is slave labor. As for Iran, they are a relatively small nation under
collective siege.]
US taxpayers’ Afghan aid money buys rich Afghans’ Dubai villas You
already might have heard that it costs the United States $1 million for
each solider per year in Afghanistan, to cover the cost of the soldiers’
benefits, troop transports and other materiel. Billions of dollars
secreted out of Kabul Spiegel Online | Billions of dollars are being
secreted out of Kabul to help well-connected Afghans buy luxury
villas in Dubai and then there are the american recipients who are a bit
more careful with their stash.
The New Civil Wars Within the West Gregory R. Copley | Internecine civil
wars are underway almost everywhere within the West, and most
virulently in the United States of America. On Why America’s 234th
Birthday May Not Have Many More To Follow Zero Hedge | It is my
firm belief that we have come to the “end of the road” for the financial
system.
Iran says planes denied fuel in Germany, UK, UAE Reuters | The claim
could not be independently confirmed and was met abroad by
skepticism. [Europe really fell fast. They make Christians look like the
dumbest people in the world, along with the likes of ie., UAE if true
(and defacto bankrupt america). After all, this ‘all for israel’ mantra is
contraindicated inasmuch as the hebrews deny the very foundation of
the Christian religion and indeed were behind his crucifixion].
DRUDGEREPORT: Evans-Pritchard: It's Really Starting to Feel Like 1932

[Depression] ...
Dow Repeats Great Depression Pattern...
Investors fear risk of regional defaults...
Obama: 'The great jobs killer'...
Turkey, a leader of nations, wants war criminal israel apology, israel rejects
demand ...
Inventory Cycle Has Run Its Course Harrison – ‘… This is the scenario I
have been predicting for months now.
• Double Dip Recession and the Obama 2011 Budget (February 2010):
The long and short is that – come Summer – the inventory cycle’s
thrust will have dissipated. And if companies are not hiring by this
time and consumer spending is not increasing more robustly, then
the state budgets, the strategic defaults and all of the rest of that
becomes a serious obstacle. In my view, more likely than not, this
will lead to another recession late in 2010 or in 2011. And nothing in
the President’s budget changes this outlook.
• The mindset will not change; a depressionary relapse may be
coming (March 2010): the inventory cycle’s impact on GDP growth
will attenuate. By the second half of 2010, inventories will not add
considerably to GDP.
• US GDP growth rate is unsustainable; recovery will fade (April 2010):
The inventory cycle is already starting to fade. That means weak 1 or
2% growth at best by Q4 2010. Unless job growth picks up
tremendously by the second half of the year, this recovery is in
trouble.
David Rosenberg says the ISM leads jobs. And, the latest jobs numbers
were weak.
I would be nonplused about the recent ISM data if it weren’t for the column
highlighted in red. Notice how the momentum for everything is slowing.
Not just the overall index, but new orders, production and employment …’
U.S. Economy “Is a Complete Disaster” Yahoo! Finance | The U.S. economy
is in shambles and Americans will continue to see high
unemployment and lower living standards in the years to come.
America is sinking under Obama’s towering debt I hope the White
House is paying attention to the latest annual Congressional Budget
Office Long-Term Budget Outlook, which offers a truly frightening
picture of the scale of America’s national debt, with huge implications
for the country’s future prosperity. 7.9 million jobs lost, many
forever CNNMoney | The recession killed off 7.9 million jobs. It’s
increasingly likely that many will never come back.
50 Random Facts That Make You Wonder What In The World Has Happened
To America The Economic Collapse | For those who still love this land
(and there are a lot of us) it is heartbreaking to watch America slowly
die. BP, Homeland Security, and Cops Work Together to Deny First
Amendment Kurt Nimmo | BP, Homeland Security, the FBI’s Joint
Terrorism Task Force, and local cops will now decide if it is
acceptable for journalists to take photographs. Will G20 Police
Succeed In Covering Up Reports of Rape and Torture? Infowars.com |
Can authorities be allowed to cover-up the Abu-Ghraib style
incarceration methods Toronto police engaged in during the G20
summit this past weekend, where women were arrested and
subsequently raped by male cops? Emergency S.O.S.: America
Falling to Foreign Bank Takeover – Fourth of July Alex Jones breaks
down the takeover by offshore banking powers– newly empowered by
Congress’ banking “reform,” expanded taxes worldwide, as well as
accelerated moves towards ending the Dollar’s reserve status,
including urging from a recent United Nations report. More than
one-quarter don’t know who US gained independence from Every
Fourth of July, Americans gather to celebrate the country’s
declaration of independence from … um, what country was that
again?
DRUDGEREPORT: TORN ON FOURTH OF JULY: OBAMA DIVIDES

NATION...
Great Republic in parlous state -- politically, economically...
YEAR 9: Petraeus in Afghanistan warns of tough mission...

'We are in this to win' … Win what? The fact of america’s defacto
bankruptcy and being there IS failure no matter what they ultimately call
this debacle ...
Illinois Stops Paying Its Bills...
Facing 'outright disaster' amid budget crisis...
Turn On, Tune In...Nah, Just Drop Out … Discouraged workers at a new
cycle high And small wonder. The median unemployment duration went to
a new all-time high (since the 1940s, anyway, when that series begins) and
shows no signs of slowing its ascent … (Chart, source Bloomberg)…
YEAR 9: Petraeus in Afghanistan warns of tough mission … What mission?

What plan?.What strategy? National bankruptcy?… Mission
accomplished! ...
NY Times’ Krugman: We Are Entering The Third Depression Recessions

are common; depressions are rare. [Correction: we’re already in a
depression].
JUNE UNEMPLOYMENT 9.5%... 125,000 JOBS LOST...

Rate dips as 652,000 give up search...
Depressing... [That’s why they’re called depressions (just kidding … but no
laughing matter) … At this rate, with all those lost jobs and jobseekers no
longer seeking those lost jobs that aren’t there, by their calculations (9.5%
the bright spot … riiiiight!) we should be at full employment very soon …
you can’t make this stuff up … really!].
Ron Paul: 114 Flip Flop on Audit The Fed Causing Bill to Fail 229 – 198 Ron
Paul’s attempt to audit the Federal Reserve, which was previously co-
sponsored by 320 members of the House (HR 1207), failed by a vote of 229-
198. All Republicans voted in favor of the measure with 23 Democrats
crossing the aisle to vote with Republicans. 122 co-sponsors of HR 1207,
all Democrats, jumped ship and voted against the measure. The Future
of Audit the Fed Congressman Ron Paul discusses the latest in the efforts
to get a full and complete audit of the Fed as well as the future of Fed
transparency. Like Congressman Paul says, we’ve accomplished a lot of
good with our movement, and there’s many reasons to be optimistic for the
future. Ditch the Buck! Dollar demise ‘a matter of months’ A report by
the United Nations says the American dollar should be ditched as the main
global reserve currency. It said that the global financial meltdown has
exposed systematic weaknesses, one of which is the reliance on the
greenback. G-20 is Relying on China To Drive the World Economy … But
China Isn’t Looking So Hot The G-20 is apparently relying on China to
drive the world economy.
Middle class families face a triple whammy Edmund Conway | Falling

pensions, cuts and the banking crisis will impoverish many families.
One of those … Daaaaah! Moments … Panetta says Afghan progress

slower than expected Los Angeles Times - Days after President
Obama installed a new US military commander in Afghanistan, CIA
Director Leon E. Panetta conceded Sunday that progress in the war
has been "harder" and "slower than I think ... Panetta says Afghan
insurgents show no real interest in reconciliation talks Washington
Post CIA Retains Controversial Security Firm in Afghanistan Wall
Street Journal CIA: AFGHAN PROGRESS 'SLOWER' THAN
ANTICIPATED… Daaaaah! ...
GOP chairman: Afghan 'war of Obama's choosing' (AP) - Republican

chairman Michael Steele drew criticism from within his own party
Friday, including calls to resign, after saying the 9-year-old
commitment of U.S. troops to Afghanistan was a mistaken ... [Steele is
quite right and wobama and war facilitators deserve criticism; not
Steele.] Pelosi: Unemployment Checks Fastest Way to Create Jobs
“It creates jobs faster than almost any other initiative you can name.”
[pelosi’s so ‘in over her head’, burnt out, borderline senile, etc.]
Seventy million expired flu vaccines about to be incinerated as waste
[government / corporate welfare / fraud] Forty million doses of H1N1
swine flu vaccine are about to go up in flames, and another 30 million
will soon meet the same fate. They’ve expired, you see, and despite
the CDC’s best efforts to push flu vaccines on the american people,
the industry still couldn’t find a way to offload seventy million doses
of a vaccine that doesn’t even work.
Israel Suspected in Bogus Claim Iran Developing Nuclear Trigger Kurt
Nimmo | The bogus claim prompted a new round of support for more
aggressive U.S. and European sanctions against Iran. Ron Paul:
Audit The Fed Bill Fails After Former Co-Sponsors Flip-Flop | Ron
Paul’s attempt to audit the Federal Reserve failed, after more than 100
former co-sponsors of the bill jumped ship and voted against the
measure. Dollar Plunges After UN Call To Ditch Greenback | U.S.
economy enters “total freefall”.
50 Random Facts That Make You Wonder What In The World Has Happened
To America - The Economic Collapse July 2, 2010 Our world is
changing at a pace that is so staggering these days that it can be
really hard to fully grasp the significance of what we are witnessing.
Hopefully the collection of random facts below will help you to
“connect the dots” just a little bit. On one level, the facts below may
not seem related. However, what they all do have in common is that
they show just how much the United States has fundamentally
changed. Do you ever just sit back and wonder what in the world has
happened to America? The truth is that the America that so many of
us once loved so much has been shattered into a thousand pieces.
The “land of the free and the home of the brave” has been
transformed into a socialized Big Brother nanny state that is oozing
with corruption and has accumulated the biggest mountain of debt in
the history of the world. The greatest economic machine that the
world has ever seen is falling apart before our very eyes, and even
when our politicians actually try to do something right (which is quite
rare) the end result is still a bunch of garbage. For those who still
love this land (and there are a lot of us) it is heartbreaking to watch
America slowly die.
The following are 50 random facts that show just how dramatically america
has changed….
#50) A new report released by the United Nations is publicly calling for the
establishment of a world currency and none of the major news
networks are even covering it.
#49) Arnold Schwarzenegger has ordered California State Controller John
Chiang to reduce state worker pay for July to the federal minimum allowed
by law — $7.25 an hour for most state workers.
#48) A police officer in Oklahoma recently tasered an 86-year-old disabled
grandma in her bed and stepped on her oxygen hose until she couldn’t
breathe because they considered her to be a “threat”.
#47) In early 2009, U.S. net national savings as a percentage of GDP went
negative for the first time since 1952, and it has continued its downward
trend since then.
#46) Corexit 9500 is so incredibly toxic that the UK’s Marine Management
Organization has completely banned it, so if there was a major oil spill in
the North Sea, BP would not be able to use it. And yet BP has dumped
over a million gallons of dispersants such as Corexit 9500 into the Gulf of
Mexico.
#45) For the first time in U.S. history, more than 40 million Americans are
on food stamps, and the U.S. Department of Agriculture projects that
number will go up to 43 million Americans in 2011.
#44) It has come out that one employee used a Federal Emergency
Management Agency credit card to buy $4,318 in “Happy Birthday” gift
cards. Two other FEMA officials charged the cost of 360 golf umbrellas
($9,000) to the taxpayers.
#43) Researchers at the State University of New York at Buffalo received
$389,000 from the U.S. government to pay 100 residents of Buffalo $45
each to record how much malt liquor they drink and how much pot they
smoke each day.
#42) The average duration of unemployment in the United States has risen
to an all-time high.
#41) The bottom 40 percent of all income earners in the United States now
collectively own less than 1 percent of the nation’s wealth.
#40) In the U.S., the average federal worker now earns about twice as much
as the average worker in the private sector.
#39) Back in 1950 each retiree’s Social Security benefit was paid for by 16
workers. Today, each retiree’s Social Security benefit is paid for by
approximately 3.3 workers. By 2025 it is projected that there will be
approximately two workers for each retiree.
#38) According to a U.S. Treasury Department report to Congress, the U.S.
national debt will top $13.6 trillion this year and climb to an estimated $19.6
trillion by 2015.
#37) The federal government actually has the gall to ask for online
donations that will supposedly go towards paying off the national debt.
#36) The Cactus Bug Project at the University Of Florida was
allocated $325,394 in economic stimulus funds to study the mating
decisions of cactus bugs.
#35) A dinner cruise company in Chicago got nearly $1 million in economic
stimulus funds to combat terrorism.
#34) It is being reported that a 6-year-old girl from Ohio is on the “no fly”
list maintained by U.S. Homeland Security.
#33) During the first quarter of 2010, the total number of loans that are at
least three months past due in the United States increased for the 16th
consecutive quarter.
#32) According to a new report, Americans spend twice as much as
residents of other developed countries on healthcare, but get lower quality
and far less efficiency.
#31) Some experts are warning that the cost of bailing out Fannie Mae and
Freddie Mac could reach as high as $1 trillion.
#30) The FDA has announced that the offspring of cloned animals could be
in our food supply right now and that there is nothing that they can do
about it.
#29) In May, sales of new homes in the United States dropped to the lowest
level ever recorded.
#28) In 1950, the ratio of the average executive’s paycheck to the average
worker’s paycheck was about 30 to 1. Since the year 2000, that ratio has
ranged between 300 to 500 to one.
#27) Federal border officials recently said that Mexican drug cartels have
not only set up shop on American soil, they are actually maintaining
lookout bases in strategic locations in the hills of southern Arizona.
#26) The U.S. government has declared some parts of Arizona off limits to
U.S. citizens because of the threat of violence from Mexican drug
smugglers.
#25) According to the credit card repayment calculator, if you owe $6000 on
a credit card with a 20 percent interest rate and only pay the minimum
payment each time, it will take you 54 years to pay off that credit card.
During those 54 years you will pay $26,168 in interest rate charges in
addition to the $6000 in principal that you are required to pay back.
#24) According to prepared testimony by Goldman Sachs Chief Operating
Officer Gary Cohn, Goldman Sachs shorted roughly $615 million of the
collateralized debt obligations and residential mortgage-backed securities
the firm underwrote since late 2006.
#23) The six biggest banks in the United States now possess assets
equivalent to 60 percent of America’s gross national product.
#22) Four of the biggest U.S. banks (Goldman Sachs, JPMorgan Chase,
Bank of America and Citigroup) had a “perfect quarter” with zero days of
trading losses during the first quarter of 2010.
#21) 1.41 million Americans filed for personal bankruptcy in 2009 – a 32
percent increase over 2008.
#20) BP has hired private security contractors to keep the American
people away from oil cleanup sites and nobody seems to care.
#19) Barack Obama is calling for a “civilian expeditionary force” to be sent
to Afghanistan and Iraq to help overburdened military troops build
infrastructure.
#18) On June 18th, two Christians decided that they would peacefully pass
out copies of the gospel of John on a public sidewalk outside a public Arab
festival in Dearborn, Michigan and within 3 minutes 8 policemen
surrounded them and placed them under arrest.
#17) It is being reported that sales of foreclosed homes in Florida made up
nearly 40 percent of all home purchases in the first part of this year.
#16) During a recent interview with Larry King, former first lady Laura Bush
revealed to the world that she is actually in favor of legalized gay marriage
and a woman’s “right” to abortion.
#15) Scientists at Columbia University are warning that the dose of
radiation from the new full body security scanners going into airports all
over the United States could be up to 20 times higher than originally
estimated.
#14) 43 percent of Americans have less than $10,000 saved for retirement.
#13) The FDIC’s deposit insurance fund now has negative 20.7 billion
dollars in it, which represents a slight improvement from the end of 2009.
#12) The judge that BP is pushing for to hear an estimated 200 lawsuits on
the Gulf of Mexico oil disaster gets tens of thousands of dollars a year in
oil royalties and is paid travel expenses to industry conferences.
#11) In recent years the U.S. government has spent $2.6 million tax dollars
to study the drinking habits of Chinese prostitutes and $400,000 tax dollars
to pay researchers to cruise six bars in Buenos Aires, Argentina to find out
why gay men engage in risky sexual behavior when drunk.
#10) U.S. officials say that more than three billion dollars in cash (much of
it aid money paid for by U.S. taxpayers) has been stolen by corrupt officials
in Afghanistan and flown out of Kabul International Airport in recent years.
#9) According to a report by the U.S. Department of Transportation’s
Bureau of Transportation Statistics, the baggage check fees collected by
U.S. airlines shot up 33% in the first quarter of 2010 to $769 million.
#8) Three California high school students are fighting for their right to
show their American patriotism - even on a Mexican holiday - after they
were forced to remove their American flag T-shirts on Cinco de Mayo.
#7) Right now, interest on the U.S. national debt and spending on
entitlement programs like Social Security and Medicare are somewhere in
the neighborhood of 10 to 15 percent of GDP. By 2080, they are projected
to eat up approximately 50 percent of GDP.
#6) The total of all government, corporate and consumer debt in the United
States is now about 360 percent of GDP.
#5) A 6-year-old girl was recently handcuffed and sent to a mental facility
after throwing temper tantrums at her elementary school.
#4) In Florida, students have been arrested by police for things as simple
as bringing a plastic butter knife to school, throwing an eraser, and
drawing a picture of a gun.
#3) School officials in one town in Massachusetts are refusing to
allow students to recite the Pledge of Allegiance.
#2) According to one new study, approximately 21 percent of children in
the United States are living below the poverty line in 2010.
#1) Since 1973, more than 50 million babies have been murdered in
abortion facilities across the United States.
Fed Made Taxpayers Unwitting Junk-Bond Buyers Bloomberg | So-called

assets included collateralized debt obligations and mortgage-backed
bonds. Dollar Plunges After UN Call To Ditch Greenback The dollar
plunged today following a United Nations report which called for the
greenback to be replaced as the global reserve currency by the
International Monetary Fund’s special drawing rights (SDRs).
National debt soars to highest level since WWII The federal debt will
represent 62% of the nation’s economy by the end of this year.
Dollar should be replaced as international standard, U.N. report says
CNN | The dollar is an unreliable international currency and should be
replaced by a more stable system, the United Nations Department of
Economic and Social Affairs said. Double Dip Picking Up: Jobless
Claims Spike To 472,000, On Expectations Of 455,000 Jobless claims
were a disaster, coming in at 472k, on expectations of 455k. Prior was
revised, surprise, surprise, higher to 459k from 457k. What is scariest
is that between extended benefits and EUC, now that Congress has
turned off the perpetual insurance spigot for the unemployed,
dropped by -158,155 and -217,513.‘Jobless Recovery’ Myth as
Banksters RAPE and ENSLAVE the Public! GET OFF YOUR KNEES!
We’re told that this will be a ‘jobless recovery’ with further job losses
expected before things get better. Well, if you believe that nonsense
I’ve got a fantastic sundrenched beach on the growing ice packs of
Antarctica to sell you. How on earth can there be anything called a
jobless recovery? The simple answer is that there can’t! Study: US
media redefined torture after US started practicing it The US news
media radically changed how it reported on the issue of
waterboarding after it emerged that US forces had used the practice,
says a new study from Harvard University. The Toronto G20 Riot
Fraud: Undercover Police engaged in Purposeful Provocation
Toronto is right now in the midst of a massive government / media
propaganda fraud. As events unfold, it is becoming increasingly clear
that the ‘Black Bloc’ are undercover police operatives engaged in
purposeful provocations to eclipse and invalidate legitimate G20
citizen protest by starting a riot. Government agents have been caught
doing this before in Canada.
Obama Calls for Pentagon “Civilian Component” [Wow! Sounds like a plan
… riiiiight!] Kurt Nimmo | Obama wants to send civilians to the
occupation zones in Iraq and Afghanistan.
Drudgereport: JUNE UNEMPLOYMENT 9.5%... 125,000 JOBS LOST...

New jobless claims rise [again]...

'Surprise'...
Pending home sales plunge record 30%...
Weak economic data suggest 'recovery' fizzling...

Fears mount over slowing global demand...
UN committee calls for dumping US dollar...
YEAR 9: Petraeus in Afghanistan warns of tough mission … What mission?

What plan?.What strategy? National bankruptcy?… Mission
accomplished! ...
Six Months to Go Until the Largest Tax Hikes in History...
SIX MONTHS TO GO UNTIL

THE LARGEST TAX HIKES IN HISTORY
From Ryan Ellis on Thursday, July 1, 2010 4:15 PM
Read more: http://www.atr.org/six-months-untilbr-largest-tax-hikes-

a5171##ixzz0sVN5aBH3
In just six months, the largest tax hikes in the history of America will take
effect. They will hit families and small businesses in three great waves on
January 1, 2011:
First Wave: Expiration of 2001 and 2003 Tax Relief
In 2001 and 2003, the GOP Congress enacted several tax cuts for investors,
small business owners, and families. These will all expire on January 1,
2011:
Personal income tax rates will rise. The top income tax rate will rise from
35 to 39.6 percent (this is also the rate at which two-thirds of small
business profits are taxed). The lowest rate will rise from 10 to 15 percent.
All the rates in between will also rise. Itemized deductions and personal
exemptions will again phase out, which has the same mathematical effect
as higher marginal tax rates. The full list of marginal rate hikes is below:
- The 10% bracket rises to an expanded 15%

- The 25% bracket rises to 28%
- The 35% bracket rises to 39.6%
Higher taxes on marriage and family. The “marriage penalty” (narrower tax
brackets for married couples) will return from the first dollar of income.
The child tax credit will be cut in half from $1000 to $500 per child. The
standard deduction will no longer be doubled for married couples relative
to the single level. The dependent care and adoption tax credits will be cut.
The return of the Death Tax. This year, there is no death tax. For those
dying on or after January 1 2011, there is a 55 percent top death tax rate on
estates over $1 million. A person leaving behind two homes and a
retirement account could easily pass along a death tax bill to their loved
ones.
Higher tax rates on savers and investors. The capital gains tax will rise
from 15 percent this year to 20 percent in 2011. The dividends tax will rise
from 15 percent this year to 39.6 percent in 2011. These rates will rise
another 3.8 percent in 2013.
Second Wave: Obamacare
There are over twenty new or higher taxes in Obamacare. Several will first
go into effect on January 1, 2011. They include:
The “Medicine Cabinet Tax” Thanks to Obamacare, Americans will no

longer be able to use health savings account (HSA), flexible spending
account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase
non-prescription, over-the-counter medicines (except insulin).
The “Special Needs Kids Tax” This provision of Obamacare imposes a cap
on flexible spending accounts (FSAs) of $2500 (Currently, there is no
federal government limit). There is one group of FSA owners for whom this
new cap will be particularly cruel and onerous: parents of special needs
children. There are thousands of families with special needs children in
the United States, and many of them use FSAs to pay for special needs
education. Tuition rates at one leading school that teaches special needs
children in Washington, D.C. (National Child Research Center) can easily
exceed $14,000 per year. Under tax rules, FSA dollars can be used to pay
for this type of special needs education.
The HSA Withdrawal Tax Hike. This provision of Obamacare increases the
additional tax on non-medical early withdrawals from an HSA from 10 to 20
percent, disadvantaging them relative to IRAs and other tax-advantaged
accounts, which remain at 10 percent.
Third Wave: The Alternative Minimum Tax and Employer Tax Hikes
When Americans prepare to file their tax returns in January of 2011, they’ll
be in for a nasty surprise—the AMT won’t be held harmless, and many tax
relief provisions will have expired. The major items include:
The AMT will ensnare over 28 million families, up from 4 million last year.
According to the left-leaning Tax Policy Center, Congress’ failure to index
the AMT will lead to an explosion of AMT taxpaying families—rising from 4
million last year to 28.5 million. These families will have to calculate their
tax burdens twice, and pay taxes at the higher level. The AMT was created
in 1969 to ensnare a handful of taxpayers.
Small business expensing will be slashed and 50% expensing will

disappear. Small businesses can normally expense (rather than slowly-
deduct, or “depreciate”) equipment purchases up to $250,000. This will be
cut all the way down to $25,000. Larger businesses can expense half of
their purchases of equipment. In January of 2011, all of it will have to be
“depreciated.”
Taxes will be raised on all types of businesses. There are literally scores of
tax hikes on business that will take place. The biggest is the loss of the
“research and experimentation tax credit,” but there are many, many
others. Combining high marginal tax rates with the loss of this tax relief
will cost jobs.
Tax Benefits for Education and Teaching Reduced. The deduction for
tuition and fees will not be available. Tax credits for education will be
limited. Teachers will no longer be able to deduct classroom expenses.
Coverdell Education Savings Accounts will be cut. Employer-provided
educational assistance is curtailed. The student loan interest deduction
will be disallowed for hundreds of thousands of families.
Charitable Contributions from IRAs no longer allowed. Under current law,

a retired person with an IRA can contribute up to $100,000 per year directly
to a charity from their IRA. This contribution also counts toward an annual
“required minimum distribution.” This ability will no longer be there.
Read more: http://www.atr.org/six-months-untilbr-largest-tax-hikes-

a5171##ixzz0sVMwYIhK
Investors get more gloomy & bearish We just had a very difficult three
month stretch for stocks. The S&P 500 fell 12% for the quarter as did
NASDAQ. The Shanghai Composite, China’s largest stock index, fell 22.9
in its local currency, the yuan. The MSCI EAFE Index (foreign stocks) was
down 14%. Given the negative news, it is not surprising that investors are
becoming more bearish on stocks. This chart from Bespoke is based on
the weekly Investors Intelligence survey, which is getting close to levels
from a year ago. This is not close the peak we reached in early 2009, but
the mood is definitely more negative now: [chart]
Double Dip on the Way There were many events contributing to yesterday’s
sell-off, and the most likely culprits around the globe included more
protests in Greece, continued to concerns about Europe at large, and a
downward revision (due to a calculation error) of a leading economic
indicator reading in China for the month of April. But when it comes down
to it, our own economy has yet to stand on solid ground. While the
recovery has continued to be shaky at best, recent economic readings may
be pointing to a double dip recession. Yesterday’s batch of economic data
seemed to be confirming that, as it brought a very dismal reading on
consumer confidence. June’s number stood at 52.9, far below expectations
of 62.5, and pointing to the consumers’ weariness about the job market,
and economic recovery in general. To go further, the previous reading for
May was revised downward, to 62.7 from 63.3. But the drop from May to
June really sends the message home: we’re not out of the woods yet.
Earlier in the week, we saw personal savings rates rise again, even while
personal income growth was meager. Americans, despite bringing home a
little more cash, continued to save more for the expected rainy days, and
have yet to return to their spendthrift ways. After yesterday’s precipitous
selling, one would expect to see a bit of a bounce in today’s trading
session. That wasn’t the case, however, as more weak data continued to
dampen economic hopes. Today’s culprit was the ADP private sector job
report. The report stated that private payroll gains were muted in June, with
only 13,000 jobs added – far less than the 60,000 expected by economists.
While May’s reading was revised slightly upwards (to 57,000 hires from
previously reported 55,000), today’s release does not bode well for the
much anticipated report from the Bureau of Labor Statistics due out on
Friday. The non-farms payroll survey includes government workers and
has been inflated in recent months due to hiring for the 2010 Census …
[chart] …The June report, however, will reflect many of those workers
being laid off in the past month. In May, 431,000 jobs were added, but
without support from temporary government hires, economists are
predicting job losses in June. Last week, consensus estimates were for a
loss of 70,000 jobs for the month. By yesterday, those estimates were
downgraded further, to 110,000. With the help of today’s ADP report,
expectations have continued to fall: economists now expect a reading of
negative 125,000 …
Barron's: Why the Market Will Keep Sliding Perry D- Barron's has a nice
summary of what the future may hold in its "Up and Down Wall Street." It
summarizes as well as anything I've read recently where we're likely
headed. Bugging the (stock) market is the increasingly obvious disparity
between what the Street's incorrigible cheerleaders see and prophesy and
what's actually happening in the real world...The double dip in housing may
or may not be a template of what's in store for the economy as a whole. But
at the very least, it is a precursor of other serious disappointments
destined to feed the unease among the jittery populace, which most
emphatically includes investors.
It cites the predictions of SDK Captial's Dee Kessler:
--the massive fiscal and monetary stimulus so liberally applied

in 2008-2009 is starting to run out of steam, with financial
conditions tightening and leading economic indicators
pointing to a stretch of "anemic activity."
--"structural headwinds," such as public and private

deleveraging, higher taxes, greater regulation and trade
tensions.
--the well-publicized woes of the European bloc, which

accounts for 20% of the world's GDP, as further evidence that
the global economy, as he puts it, is downshifting.
--The period of easy comparisons in corporate results, he

says, is coming to a close,
--"Although the fundamentals in the U.S., Europe and Japan

are worse," Dee spots plenty of downside in emerging markets
and doesn't fancy the notion of decoupling.
--Come another financial crisis, "the only policy response left

will be to print money." Which, of course, is what the gold
bugs are counting on and why bullion has glistened so
brightly.
That about sums up the outlook. The nice insight here is that anxiety over
future economic malaise -- and the additional money printing that'll be
done to mask it -- might be a bigger factor than current inflationary
pressure behind the surge in gold prices.
In other words, for the deflation-believers: deflation today? Perhaps. But
big-time inflation tomorrow.
Disclosure: No positions
NY Times’ Krugman: We Are Entering The Third Depression Recessions

are common; depressions are rare. [Correction: we’re already in a
depression].
Stocks: Once More Up, Then the Big Down Smith -The ingredients for a
classic head and shoulders topping pattern in the stock market are all
present. That suggests one more rise and then a massive grinding move
down to 2009 lows. Officially, of course, everything's peachy with the
economy. Europe is fixed, China is booming, consumer confidence is
rising, and we are encouraged to resume our borrow and spend ways as
the economy will not "double-dip" into recession. The economy will not
slide into another recession, we are reassured constantly, even though
roughly 80% of Americans don't think we ever left the recessionary
quicksand. Please see "Two Scoop Special": Double-Dip Recession
Guaranteed (May 21, 2010) for more … Exactly what drivers are there for
future gains in corporate profits? I can't think of any, short of Martians
landing and going on a shopping spree with gold they manufacture in their
spacecraft. On the negative side, we have:
1. The rising dollar is a huge headwind to sales in the eurozone and

elsewhere.
2. The low-hanging fruit of pushing the workforce to produce more output
for the same salary/wages have all been picked.
3. The inventory build-out is done for everything but the iPhone 4 and iPad.
4. So-called "fiscal austerity" (when did living within one's means become
some sort of brutual "austerity"? Talk abour propaganda!) in the eurozone
and U.S. states will remove tens of billions of dollars from corporate sales.
5. Global overcapacity is alive and well. There is overcapacity in everything
manufactured except the iPhone 4, and that will be in glut by 2011 as well.
6. Uncle Sam is not distributing trillions of dollars quite as freely. There
seems to be some glimmer of awareness that there could be consequences
of squandering trillions of borrowed dollars on essentially worthless
projects such as occupying Iraq, inflating the housing market by
socializing the entire mortgage market, propping up Fannie Mae, Freddie
Mac and FHA, etc.
7. Housing is rolling over now that the socialized mortgage market has
been tentatively allowed to go off life-support (it is wheezing and turning
blue in the face, not signs of vibrant health).
8. There is no pricing power anywhere once stimulus-goosed demand
declines to organic demand (flat to down) …
Inflation, Deflation or Hyperinflation? (Part 2) (There are charts, but no

matter what the scenario posited, this time the territory’s uncharted,
and the debacle / crisis like no other owing to the advent of
computerization will have enabled an obfuscating tool of
unprecedented proportion [worthless paper, huge frauds as already
extant], and a two-edged sword in the most negative sense
prospectively)
GREECE UNDER NEWS BLACKOUT: Here’s How An Eyewitness Describes

Today’s Riots There are reports this morning of violent protests/riots
in Greece, once again. Here’s how a source on the ground describes
the situation. Target Tehran? Israel, US ‘prepare to attack Iran’
Reports are circulating that the U.S is amassing a greater military
presence in the Middle East. The alleged build up is also rumoured to
involve the Israeli use of Saudi Arabian air space. It’s thought by some
to be in preparation for an attack on Iran. Kucinich: ‘We are losing
our nation to lies about the necessity of war’ In Afghanistan,
corruption is rife. It is so abundant, in fact, that a senior US lawmaker
declared on Monday that she’d be freezing $3.9 billion in Afghan aid
dollars until the situation is addressed. Turkey bans Israeli military
flight from its airspace as freeze deepens Turkey has banned an
Israeli military flight from its airspace in apparent retaliation for
Israel’s interception of the Free Gaza flotilla last month, in which nine
pro-Palestinian Turkish activists were killed.
Iran nuclear scientist Shahram Amiri 'flees US captors' BBC News - A man
who says he is an Iranian nuclear scientist claims to have escaped
after being abducted by US agents. In a video shown on Iranian state
TV, he says he has escaped in the US state of Virginia and is now on
the run. Missing Iran scientist says he escaped US agents: report
Reuters Turkey Asks Iran to Return to Table Wall Street Journal
Momentum Book Update: The Market Is a Mess and the Long Bond Is
About to Break Out … Not only do us swing traders have to fight the urge
to chase price action up, but lay off the keyboard trying to catch falling
knives in the relative strength stocks which are holding up. If you tried to
buy support in your favorite names this week, you got your hands cut up.
I’ll continue to rely on the understanding of my own emotions as they have
served me well. When we opened higher on Monday morning I knew I was
in the right place, cash, as the market was just way overbought. If you
bought most relative strength names last week, by the end of this week you
were well underwater. So where do we go from here? I’ve got no clue, the
market is a mess, the charts are a mess, and the long bond is about to
break out. If that happens all bets are off, we could see an “event”. If the
smart money is lining up at the exits and moving into bonds, there’s a good
chance they see something coming down the pipe …
SUITING UP FOR A POST-DOLLAR WORLD John Browne ‘The global

financial crisis is playing out like a slow-moving, highly predicable stage
play. In the current scene, Western governments are caught between the
demands of entitled welfare beneficiaries and the anxiety of bondholders
who fear they will be stuck with the bill. As the crisis reaches an apex,
prime ministers and presidents are forced into a Sophie's choice between
social unrest and bankruptcy. But with the "Club Med" economies set to
fall like dominoes, the US Treasury market is not yet acting the role we
would have anticipated. … The newspapers are now riddled with hints that
foreign governments have lost faith in Washington and the dollar reserve
system. It seems to me only natural that after a century of war, inflation,
and socialism, the next hundred years would belong to those people who
hold the timeless values of hard money and fiscal prudence. Unfortunately,
our policymakers are not those people.’
China's Hu Jintao Says Group of 20 Must Coordinate to Consolidate

Recovery Bloomberg … How about the G195 countries in the world
collectively be considered in this task of coordination owing to the abject
failure of the so-called G20 which have in lockstep coordination
precipitated this global crisis including the war mongering, war criminal
acts of the so-called nato allies et als, particularly the u.s., and as well the
likes of war criminal nation israel which have never avoided a contra-
indicated, anti-recovery war / conflict they could contrive / rationalize. The
so-called G7, 8, 9, 20, etc., are a pathetic bunch of incompetent vegetables /
jokers / showmen / clowns.

New York Times reporter calls Zionist terrorism ‘romantic’ A little-noticed

comment in a New York Times interview with Israeli opposition leader
Tzipi Livni has critics arguing that it shows the media has a “double
standard” when it comes to terrorism.
States of Crisis for 46 Governments Facing Greek-Style Deficits

Californians don’t see much evidence that the worst economic
contraction since the Great Depression is coming to an end.
Unemployment was 12.4 percent in May, 2.7 percentage points higher
than the national rate. Evans-Pritchard Announces Fed
Contemplating $5 Trillion QE Expansion In his latest column, the Daily
Telegraph’s A. Evans-Pritchard does a good job of recapping all the
various reasons why Bernanke has now completely cornered himself,
and facing a newly collapsing economy, is left with just one recourse:
the printing of more, more, more paper. History Tells US The Euro
Will Not Survive, Greece Will Get Worse, And There Will Be A Trade
Shock With the PBoC’s currency announcement last Saturday and
the surge (!) in the value of RMB on Monday (all very kindly timed to
add zest to my meetings this week in Boston, New York, and
Washington), you would assume that today’s entry would be all about
the RMB and the effect of the PBoC announcement.
The following is really the quintessential question and issue, particularly in
light of america’s defacto bankruptcy and international law; but paramount
humanitarian concerns alone would militate against america’s current
misguided course. Is Petraeus McChrystal’s Replacement or Obama’s?
Paul Craig Roberts | All of this drama is playing out despite the continuing
lack of any valid reason for the american invasions of Iraq and Afghanistan.
Obama Can Shut Down Internet For 4 Months Under New Emergency
Powers President Obama will be handed the power to shut down the
Internet for at least four months without Congressional oversight if
the Senate votes for the infamous Internet ‘kill switch’ bill, which was
approved by a key Senate committee yesterday Congressman
Rohrabacher: Almost All House Republicans Think Iraq War Illegal,
Immoral Andrew Napolitano’s new Saturday show on the Fox
Business Network is set to send shock waves through the political
establishment this weekend when his guest – Republican
Congressman Dana Rohrabacher – reveals that almost all House
Republicans now believe that the invasion of Iraq was not only a
mistake, but also illegal and immoral. New Financial Overhaul
Gives Government Broad New Powers To Seize Financial Firms The
government would have broad new powers to seize and wind down
large, failing financial firms and to oversee the $600 trillion derivatives
market. Israeli Leaders Sued in Belgium for War Crimes
U.N. confirms rise in violence in Afghanistan Obama Can Shut Down

Internet For 4 Months Under New Emergency Powers Food &
Depopulation: Scams and Solutions Cassandra Anderson | Beware of
all NGOs and so-called “non-profit” organizations. Congress Votes
to Impose Embargo On Iran Infowars.com | Congress believes more
punitive measures are required in order to punish the Islamic
state. G20: Activists Arrested, Denied Entry into Canada Kurt
Nimmo | Charlie Veitch of The Love Police arrested, Luke Rudkowski
and fellow activists denied entry in New York.
Israeli Leaders Sued in Belgium for War Crimes Former Prime Minister
Ehud Olmert, Israeli opposition leader Tzipi Livni and Defense Minister
Ehud Barak were among those charged with war crimes committed
during the Gaza war in the winter of 2008-09, the French daily Le
Monde reported. Congress OKs sanctions on Iran’s energy, banks
Congress on Thursday approved tough new unilateral sanctions
aimed at squeezing Iran’s energy and banking sectors, which could
also hurt companies from other countries doing business with
Tehran.
Cybersecurity Measures Will Mandate Government “ID Tokens” To Use The

Internet The move to shut down and regulate the Internet, the only
source of uncensored news and truth, under a new government-
controlled system has accelerated into high gear with the
announcement that the government’s cybersecurity strategy revolves
around issuing Internet users with ID “tokens” without which they will
not be able to visit websites, the latest salvo against web freedom
which, in combination with Senator Joe Lieberman’s ‘kill switch’ bill,
will serve to eviscerate the free Internet as we know it.
Turkey, the World Leader of Nations, bans israeli military flight from its
airspace as freeze deepens The Guardian -Turkey has banned an
israeli military flight from its airspace in apparent retaliation for
Israel's interception of the Free Gaza flotilla last month, in which nine
pro-Palestinian Turkish activists were killed. Turkey restricts israeli
use of airspace CNN International Turkey bars israeli planes ABC
Online netanayahu rules out apology to Turkey over deadly raid
(AFP)
G-8 ‘fully believes’ Israel will attack Iran, says Italy PM Haaretz | World
leaders “believe absolutely” that Israel may decide to take military action
against Iran. Britain will not defeat Taliban and should open talks,
says head of Army London Telegraph | Britain and its allies will not defeat
the Taliban with military force and should soon open peace talks with
insurgents in Afghanistan, the head of the Army said yesterday.
3 SIGNS OF A SUCKER RALLY Simon Maierhofer ‘ … AFTER EXAMINING

TECHNICAL EVIDENCE, SENTIMENT INDICATORS AND VARIOUS
VALUATION METRICS, IT BECOMES OBVIOUS THAT THE RECENT
BOUNCE PROVIDES A SELLING, NOT BUYING OPPORTUNITY ...’
Russell: This Is One Of The Largest Tops In Stock Market History Richard
Russell has grown very vocally bearish in recent months. Earlier this
year, Russell warned that the stock market was once again becoming
grossly overvalued despite its relentless new highs. Pragmatic
Capitalism June 24, 2010 Richard Russell has grown very vocally
bearish in recent months. Earlier this year, Russell warned that the
stock market was once again becoming grossly overvalued despite its
relentless new highs. He has maintained that the bear market never
ended and that the world is far too indebted to exit the bear market.
He also believes the bear will not end until all fiat currencies have
failed. Although I disagree with him on many aspects of the micro I
agree with his larger macro outlook. This bear market is not over.
The secular bear market lives on. Mr. Russell thinks we might be on
the verge of a terrible collapse:
“We’re now in the process of building one of the largest tops in
stock market history. The result, I think, will be the most disastrous
bear market since the ‘30s, and maybe worse.
Question: “What could possibly be behind such a bear market?” you
ask. “The stock market is stirring up optimism on a weekly, if not daily
basis, by not falling apart.”
Answer: This is the “rest” or “dead zone” I was talking about. Bear
markets don’t conclude in a day, a week or a month. Months will go
by, often adding to the bulls’ optimism.I think the key element behind
this great bear market will be the complete destruction of all fiat
currencies. This has been a long time coming. Fiat currencies are
“wealth” created by man. They are created without sacrifice, without
labor, without risk, and without sweat. Basically they are an immoral
device, created by secretive bankers. If you watch the figures
carefully, you’ll note the subtle deterioration. For instance, the
advance-decline ratio, although up slightly for the week, had a
relatively weak performance with the Dow up several hundred points
over the course of the week. And we broke the trendline in May (see
the chart below showing the cumulative advance-decline line for
NYSE Common Stock only, which is what we publish in our figures
(courtesy of DecisionPoint — www.decisionpoint.com). The vertical
lines are Jan 2008, Jan 2009 and Jan 2010 as you move to the right on
the chart. [CHART] My old friend, Bob Prechter, is talking about Dow
400. I used to think this was an absurd joke. I no longer think it’s a
joke. The ultimate result will be a primary bear market shocking in
duration and extent. …’
Reports: IAF Landed at Saudi Base, US Troops near Iran Border Arutz
Sheva | The Israeli Air Force recently unloaded military equipment at a
Saudi Arabia base, a semi-official Iranian news agency claimed
Wednesday. It’s time for the world to take a close look at the despotic,
totalitarian regime that presently exists for the grandeur and wealth of a
few while hiding behind Islam as they betray same and Muslims
everywhere. The time has come for regime change in Saudi Arabia to yield
a nation of and for the people of Saudi Arabia and the glory of Islam.
[It should be noted, and there have been a multitude of other instances,
that I’m getting substantial ‘attacks’ vis-à-vis my internet connection
which has slowed dramatically these posts. I don’t think the
interference is either accidental or just coincidental but consistent
with that similarly experienced by critics of corrupt defacto bankrupt
america of which I am one and not alone in that regard – slowing,
militating against the devastating truth about america. It should be
noted that yet another attempt by the criminal american government
and related partners in crime to silence an unwavering critic (to really
understand america is to not be able to stand pervasively corrupt and
defacto bankrupt america and her failed criminal cohort nations /
lapdogs, ie., uk, eu, israel, etc.), in contravention of first amendment
rights / protections, and as in the RICO case [
naltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ] to
cover up substantial crimes in which the government was / is also
involved. Some delays but a work-around is in progress. I won’t forget
this and a price will be paid, as continues to be true. (6-22-10)THE
WORK-AROUND-IN-PROGRESS I ALLUDED TO IS NOW FOR THE
MOST PART SUCCESSFULLY COMPLETED BY WAY OF A DSL
CONNECTION AND A DELL COMPUTER.]
Cases against Wall Street lag despite Holder’s vows to target financial
fraud Washington Post | Obama has promised to hold Wall Street
accountable for the meltdown. Drudgereport: States Take Aim at
Pension Costs... ...Bank failure pace more than double last year
REPORT: Madoff tells cellmates of $9 billion stash... they all have
them … Cases against Wall Street lag despite Holder’s vows to target
financial fraud THOMAS SOWELL: Is USA Now On Slippery Slope
To Tyranny?
China To Overtake USA In Manufacturing FT | The US remained the world’s

biggest manufacturing nation by output last year, but is poised to
relinquish this slot in 2011 to China – thus ending a 110-year run as
the number one country in factory production.
Housing Double Dip Accelerates As Existing Home Sales Plunge -2.2% In

May Versus 6.0% Consensus, Down From 8% In April
When will the SEC prosecute for market rigging? Michael Schmidt | Are the
large gold bullion banks working in collusion with the US Federal
Reserve to artificially torpedo the key rival to US dollar hegemony?
China To Overtake USA In Manufacturing FT | The US remained the
world’s biggest manufacturing nation by output last year, but is
poised to relinquish this slot in 2011 to China – thus ending a 110-year
run as the number one country in factory production.
Connecticut vegetable lieberman: China Can Shut Down The Internet, Why
Can’t We … (great logic from a totalitarian zionist)? Senator joe Zelig the
zionist israeli lieberman, co-author of a bill that would give President
Obama a ‘kill switch’ to shut down parts of the Internet, attempted to
reassure CNN viewers yesterday that concerns about the government
regulating free speech on the web were overblown, but he only stoked
more alarm by citing China, a country that censors all online dissent
against the state, as the model to which American should compare itself.
Mexican drug cartel threatens to harm U.S. police officers who bust drug
shipments while off-duty New York Daily News | Mexican cartels added
a new twist to the drug war this week by threatening to kill U.S. cops
who seize their goods. Former Israeli top spy calls for strike on Iran
Israel should launch a pre-emptive strike to prevent arch-foe Iran
from going nuclear, a former head of Israel’s Mossad intelligence
agency said on Monday. Israel’s Planned Attack on Iran from
Caucasus Base A week ago, Israel leaked to the press that they had
permission from Saudi Arabia to use their air space to attack Iran. The
Saudi’s quickly denied this.
$34 Billion Asset Manager Says Market Prices Are Manipulated, Accuses
NYSE Of Intellectual Property Theft, Debunks HFT “Liquidity Provider”
Lies
Soros Says ‘We Have Just Entered Act II’ of Crisis Bloomberg | Soros said
the current situation in the world economy is “eerily” reminiscent of the
1930s. Gerald Celente: U.S. Financial Markets to Collapse by End of 2010
Infowars.com | Gerald Celente is a renowned trend forecaster, publisher of
the Trends Journal, business consultant and author who makes
predictions about the global financial markets and other events of
historical importance. Jobless Claims in U.S. Decreased Last Week to
456,000 Bloomberg | More Americans than anticipated filed applications for
unemployment benefits last week.
Market Outlook: Bearish Background to Bullish Storyline Sean Hannon:

‘The last two weekly market commentaries have discussed how the
underlying trend of the market is now bearish and all rallies should be used
to sell stocks and reduce risks. With nearly every news outlet spouting the
bullish storyline, these articles served as an outline of a disciplined
investment strategy. Those who followed the outline have done well as the
Dow Jones Industrial Average (Dow), S&P 500, and NASDAQ each declined
over 5% since my initial warning. With the Dow still stuck below the
psychologically important 10,000 level and all three major U.S. markets
trading beneath their 200-day moving averages (MA), the bearish backdrop
is clear. Even if many are still looking for a rally, we should understand that
the primary trend is lower. Instead of focusing on how high prices will rally,
we should instead consider how much further prices can fall …’
Greek Default Seen by Almost 75% in Poll Doubtful About Trichet Global
investors have little confidence in Europe’s efforts to contain its debt crisis
or in European Central Bank President Jean-Claude Trichet, with 73
percent calling a default by Greece likely. 12 Reasons Why The U.S.
Housing Crash Is Far From Over Over the past several months, many in
the mainstream media have hailed the slight improvement in the U.S. real
estate market as a “housing recovery”. US Needs Austerity Too: Hedge
Fund Strategist The United States will have to adopt austerity measures
similar to the ones taken in Europe, because the problems faced are largely
the same, Timothy Scala, macro-strategist at Sophis Investments, told
CNBC.com. Market Analyst: ‘BP’s Not Going to Last as a Company
More Than a Matter of Months’ We’ve heard politicians, even conservative
Republicans, suggest BP would be held completely responsible for the
devastation caused by the oil spill plaguing the Gulf of Mexico, even if it
means its very existence.
Israeli Official Threatens to Kill Turkish PM Kurt Nimmo | It is

unprecedented for a top level state official to threaten a head of
another state with murder.
US Media Terrified Of Mentioning USS Liberty Do you know that an

american naval vessel was attacked by israel in international waters, 43
years ago today, resulting in the deaths of dozens of american sailors
Arab lawmaker on flotilla sparks outrage in israel (AP) - An Israeli-Arab
lawmaker's decision to join hundreds of activists on a pro-Palestinian
flotilla has elevated her from relative political obscurity, transforming her
into the poster child for the ...
Why To Question the 2010 Stock Market Rally [Why To Question the 2010
Stock Market Rally – Web Site Archived with Charts Click Here - In the
past year, we've written a lot about the similarity between the rally of
early 1930 and the one we had through April of this year. The early
1930 rally came after the market had fallen nearly 50% in the fall of
1929. The spring 1930 rally took the market up nearly 50% again, to a
level that was only about 20% below the previous peak. That rally, of
course, was also the biggest sucker's rally in history. After the market
peaked in April 1930, it crashed again, eventually ending up down 89%
from the 1929 high and more than 80% from the 1930 high. The market
did not reach the 1930 high again for another quarter of a century. The rally
that recently ended in April 2010 came after a crash that was actually
slightly more severe than the 1929 crash (53% versus 48%). It took the
market up nearly 80% from the low! The recent rally also lasted longer
than the 1930 rally did--a year, as opposed to 6 months … ]
REMEMBER: In 1930, They Didn’t Know It Was “The Great Depression” Yet
In the past year, we’ve written a lot about the similarity between the
rally of early 1930 and the one we had through April of this year.
Investment Banker: It’s Going To Get Nasty – Buy Land, Barbed Wire
And Guns A top investment banker has warned that the economic
fallout of the sovereign debt crisis could get so nasty over the next
five years that people would be wise to abandon the markets and
instead buy land, barbed wire and guns.
DEBT POISED TO OVERTAKE GDP Key Indicators of a New Depression
Neeraj Chaudhary | Great Depression II developing into something far
more devastating than its predecessor You’re Being Decieved
Infowars.com | We’re heading over an economic cliff and there’s nothing
the government can or will do about it except lie. The Folly of Blindly
Trusting the Government
‘What Does China Want?’ They want to speak to Rosanne Rosanna Danna,
of course! ‘Asian markets tumble on fears over Hungary’ …Riiiiight!
Hungary’s the thing! … Rosanne Rosanna Danna, formerly of SNL fame
wanted in Asia to chime in with what her mama always used to say, ‘ It’s
always something ‘ . Of course, it matters little to the frauds on wall street
what the something is said to be since the reality is … ‘This is a global
depression. This is a secular bear market in a global depression. This was
a manipulated bull (s***) cycle in a secular bear market. This has been a
typically manipulated bubble as has preceded the prior crashes with great
regularity that the wall street frauds and insiders commission and sell into.
This is a typical wall street churn and earn pass the hot potato scam / fraud
as in prior crashes.’ ( It should be noted, and there have been a multitude
of other instances, that I’m getting substantial ‘attacks’ vis-à-vis my
internet connection which has slowed dramatically these posts. I don’t
think the interference is either accidental nor just coincidental but
consistent with corrupt defacto bankrupt america’s critics of which I am
one and not alone in that regard – slowing, militating against the
devastating truth about america.) Europe is Heading for a Depression
Despite a nearly-$1 trillion rescue operation, financial conditions in the
eurozone continue to deteriorate. All the gauges of market stress are
edging upwards and credit default swaps (CDS) spreads have widened to
levels not seen since the weekend of the emergency euro-summit. Key
Indicators of a New Depression With the mainstream media focusing on the
country’s leveling unemployment rate, improving retail sales, and nascent
housing recovery, one might think that the US government has
successfully navigated the economy through recession and growth has
returned. Get Ready for a Double Dip … but many warning flags point
towards significant deterioration in the U.S. and global economy going
forward and so I think that by the end of the year or early 2011, we could
very well be facing a new leg down in the world’s economic situation … [I’d
say too optimistic since, to reiterate: This is a global depression. This is a
secular bear market in a global depression. This was a manipulated bull
(s***) cycle in a secular bear market. This has been a typically manipulated
bubble as has preceded the prior crashes with great regularity that the wall
street frauds and insiders commission and sell into. This is a typical wall
street churn and earn pass the hot potato scam / fraud as in prior crashes.]
european central banks intervened to shore up the ever more worthless
euro, buying into that fraudulent wall street b*** s*** story that that ‘s a
good thing, rallying stocks off their lows. It is amazing how dumb europe
has become so quickly. An exception is what I believe was Germany’s
steps against derivatives, which market according to a derivatives trader
on the radio this day is a $40 trillion market (missed his name). To reiterate
as applicable to yet another fraudulent scheme previously stated, said
market is paper on paper moving around and generating commissions at
lightning computerized speed but adding no real value in real economic
terms; again, the analogy of termites eating away at the (nation’s)
foundation is apposite. As such, that money has to come from some real
place and hence, the ever more frequent and larger crashes we are seeing.
schemes now marked to anything is still out there in a magnitude some
have placed in the hundreds of trillions.
The Worst Money Supply Plunge Since The Depression Means A Double
Dip Is Now A ‘Virtual Certainty’ The stock of U.S. money as measured by
‘M3′ money supply fell to $13.9 trillion from $14.2 trillion during the three
months ending in April. [ This is still an extraordinarily high level but … I
don’t buy it. I believe the printing presses have been working overtime to
pump out ever more worthless fiat currency and with the many trillions of
worthless fraudulent paper still out there and marked to anything. I further
believe the same is being surreptitiously used to supplant the fraudulent
paper, the consequences of which will be devastating, of course, as is
invariably so in depressions in any event. This scenario would also mean
huge fraud accomplis. ] Fiat Money Supply Contracting at Great
Depression Level The bankster operative who helped destroy Glass-
Steagall is back. Larry Summers, Obama’s top economic adviser, has told
Congress to “grit its teeth” and approve a fresh fiscal boost of $200 billion
to keep growth on track, reports the Daily Telegraph. Fiat Money Supply
Contracting at Great Depression Level Kurt Nimmo | The Federal Reserve
stopped publishing M3 figures back in 2006.
Sell in May and Go Away, Indeed [ I wasn’t kidding; and, I’m still not
kidding when I say: This is a great opportunity to sell / take profits
because there’s much worse to come! ]
Forecasts from Dent, Napier, and then Prechter: 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.
10 Reasons to Worry About Margin Growth … a good portion of these

factors will likely impact margins by the end of the year. I don’t believe
this is adequately factored into earnings estimates across the board.
Given this, I believe we have seen the highs for the year and next few
quarters will be extremely volatile ...
Dow Theorist Richard Russell: Sell Everything, You Won’t Recognize

America By The End Of The Year Business Insider | “Pul – leeze, get out
of stocks now, and I don’t give a damn whether you have paper losses
or paper profits!”
The frauds on wall street et als should be criminally prosecuted, jailed,

fined and disgorgement imposed. If that were so, they wouldn’t be worrying
about who wins / loses since those who fraudulently play, invariably would
(and should) pay. If they’re not prosecuted, everyone loses.
POST MORTEM AND REVIEW Ricky:

A post mortem is in order. The elements of this worldwide con game are
remarkably simple, not complex at all. Apparently you only need a few
things to make a mockery of the entire global economic system, and big
banks garnered these few important things through “regulatory capture”:
1) Unregulated, unenforced rules (particularly for derivatives)
2) license to “mark to model” (assign your own values to your assets)
3) ability to peg present value to irrational expected future returns (based
on unlimited, exponential growth)
4) infinite leverage (no effective requirements for reserve capital in
unregulated “shadow” markets)
5) massive size, so that the bank is "too big to fail"
6) non-transparency and non-accountability.
SELL IN MAY AND GO AWAY!
THE FORECASTS:
instead of 2010.
latest.
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 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.
According to the Debt Clock:
• Total national debt: $13 trillion

• Debt per citizen: $42,026
• Debt per taxpayer: $117,982
• Total interest due: $1.9 trillion
• Interest per citizen: $2,211
Click here to see the Debt Clock, which is updated every second.
• Total personal debt: $16.5 trillion

• Total mortgage debt: $14.1 trillion
• Total consumer debt: $2.45 trillion
• Personal debt per citizen: $53,483
• Debt held by foreign countries: $4.07 trillion
http://www.usdebtclock.org Get Real Time U.S. Debt Data


TED OLSON SEEKING TO OVERTURN CALIFORNIA'S PROPOSITION 8,

WHICH LIMITS MARRIAGE TO A MAN AND A WOMAN. After shilling
for the corrupt u.s. government as solicitor general, maybe he just
wanted to go straight [Just Kidding!]. There is no immunity, judicial or
otherwise for criminal acts. Moreover, there is no sovereign immunity
for non-governmental acts as would include involvement in the
illegal drug and related crimes, ie., bribery, etc., and the supreme
court has so held against foreign nations in the context of the RICO
statute but in my RICO case olson the liar would shill otherwise, not
that he really had to worry in light of the pervasively corrupt and
wastefully costly federal courts which should be abolished.
NATION NEWS DIGEST: J.P. Morgan Chase posts $4.8 billion profit
(Washington Post) Yet another ‘Come on’ day on fraudulent wall street!
This time it’s the unexpected jump in continuing claims for unemployment,
yesterday the downward revision to previous market-frothing retail sales
report and poor retail sales and plunge in mortgage applications and then
there’s the fed minutes pointing to extended bad economy. Then there’s
also now the ‘goldfinger factor’ as in goldman’s middle finger. When you
defraud for many billions, paying $550 million is chump change. Goldman
shares rocketed 5.5% in after-hours trading. No wonder Goldman called it
"the right outcome for our firm shareholders and clients." (Absent
prosecutions, they’ll continue to do what comes natural to frauds on wall
street). Great opportunity to sell / take profits since much worse, also
called reality beyond the b*** s***, to come. Then there’s also the bad but
typical news; viz., previous retail sales, mortgage apps, economic outlook
down, and continuing claims for unemployment, deficits, trade / budget,
up. (Just in: 7-16-10 Poll – only 43% of Americans approve of the
Afganistan War, down from 52% in January, 2010)
Pearlstein: Can regulation beget innovation? (Washington Post) I believe

the more seminal question to be, whether american companies, consistent
with overall american decline and corruption in so pervasive a fashion, are
capable of or inclined toward real innovation where enhancements to
productivity, as well as greater profits, is the consequence as desired.
Certainly there has been ‘innovation’ by the wall street frauds in the types
of (ultimately worthless / fraudulent) paper and high frequency trade
programs enhancing their bottom-lines but little else; and, those cutting
edge ‘weapons of mass destruction’ produced or financed (israel) by
america are hardly productive in the economic sense but innovative and
profitable in the short run, and unwise and nation-bankrupting in the longer
run which we’re in right now!
Grace Kelly: Eternal fashion icon (Washington Post) To reiterate, I seldom

comment on entertainment matters; but, I also would not pass up the
opportunity to pay homage to such a ‘magnificent and exotic creature
(in the most positive sense the term is used)’ as Grace Kelly, the
Eternal Princess. I previously referenced her in the post which follows
and includes the context of the post. One might say, London Exhibit?
What? Yet, Alfred Hitchcock’s good taste and keen eye for splendor
and beauty was not lost on Grace Kelly about whom he publicly raved
(he also admitted his love for Cary Grant, but not that way. No, Alfred
Hitchcock was not a homo).
Mideast Digest: Wow! Belfast, Northern Ireland; and in the Mideast Digest
Section, of all places. It’s been a long time. While I have had some
difficulties with Irish mob in the context of litigation but only
tangential to my primary RICO action vis-à-vis the Italian mob (and
similarly tangentially the jewish mob and then primarily what I learned
to be ‘governmental mob’, federal, state, local, derivative thereby and
the sine quo non of corruption / bribery / synergy that spells decline
for any nation), it is difficult to not be empathetic to the plight of an
otherwise beautiful nation tainted only by the orange stain in that
northern quarter. After all, what hasn’t england not mucked up from
balfour to the mideast to now even their own nation having hitched a
ride on the american / israeli crazy train. As a matter of disclosure, I
must admit to an affinity for the Irish and somewhat fairly recently had
been asked what I thought of Philadelphia to which without hesitation
I immediately replied that Grace Kelly (truly magnificent by any
standard) was born there. I could think of nothing else that could
parallel such a distinction.
Congress: Gone fishing?: With the economy slowing again, scores of

nominations awaiting confirmation and major issues such as climate
change and immigration unresolved, Congress has left town for its
traditional six-week August recess. Is that smart leadership? At what
point should leaders change well-established routines to signal that
'business as usual' is no longer acceptable? (Washington Post) [ I
truly feel and without exaggeration that the situation’s beyond that
point. Forget not the raises they’ve voted themselves even as the
nation crashes and burns. Moreover, in addition to incompetent, I
have found them, their agencies, appointees, etc., venal, corrupt, and
meaningfully lawless (see infra). Then there’s the perpetual wars
despite defacto bankruptcy of the nation. I don’t think this nation will
stand, certainly not as we knew it. They’ve made really, irrevocably
bad choices. Their incompetence is one thing; but, as I have
experienced, their corruption is quite another and totally,
unequivocally unacceptable! ]
U.S. to host Mideast peace talks (Washington Post) [ Call me skeptical,

cynical, etc., but somehow, u.s. juxtaposed with the words Mideast, peace
strains credulity and just doesn’t ring true! ] While citing obstacles, White
House expresses hope that deal for Palestinian state may come soon.
U.S. examines private sector's role in affordable housing (Washington

Post) [ I’m sorry to say that in pondering the so-called policy-makers
in Washington or in the corporate boardrooms that I’m hard-pressed
to dismiss from my mind’s eye a picture of a bunch of scarecrows
fumbling around while singing refrains such as ‘if they only had a
brain’ cirque the land of the wizard of oz. The reality is that some
basic grasp of economics, finance, business would go a long way in a
more positive sense for the nation. Then there’s those infamous
internment / concentration / ‘affordable housing’ camps that’s been
filtering through the filters, so to speak.] The Obama administration is
grappling over how much to force private lenders to pay for
apartments and homes for the poor as it presses ahead with a major
overhaul of the government's housing policy, officials said.
Officials: Karzai aide part of wider probe (Washington Post) If only he hadn’t
taken / made those calls to the Taliban, things would still be aok for
america. Yeah, they’d be ‘down with it’. You know, everything
copasetic …
Hopes … ah, yes, hopes … as in heroin high hopes, or high apple pie in the
sky hopes, or the u.s. ram that kept buttin’ that dam high hopes?
Sounds like a plan! Riiiiight! U.S. hopes Afghanistan-Pakistan trade
deal boosts cooperation in war effort: U.S. … hopes more
cooperation will aid war effort (Washington Post)
Israeli-Palestinian peace talks expected to resume in September: Quartet
to issue invitation for Israel and Palestinians (Washington Post) Ah
yes! The sound of peace breaking out all over in the Middle East. If
you don’t hear it, it’s probably owing to the latest pretext by Israel to
sabotage the same.
Mideast DIGEST (Washington Post) netanayahu admits on video he

deceived US to destroy Oslo accord The contents of a secretly recorded
video threaten to gravely embarrass not only Benjamin netanayahu, the
Israeli prime minister but also the US administration of Barack Obama.
Ex-bank executives say their dismissals caused panic withdrawals in Kabul

(Post, September 4, 2010; 8:52 AM) Karzai urges Afghans not to panic as
bank withdrawals accelerate (Post, September 4, 2010; 3:11 AM) Suicide
bombing kills at lesat 55 (Washington Post) Pakistan… After Iraq war,
uncertainty and seemingly mixed messages (Post, September 2, 2010; 4:26
PM) [ What do these nations have in common? An american presence …
and from the foregoing it’s clear that this sounds like a reporting job for
Rosanne Rosanna Dana of SNL fame who has insight into such scenarios
as this ‘cause her mama always said …it’s always something! ]
A quandary in Afghan corruption fight (Washington Post) U.S. effort to

help Afghanistan fight corruption has complicated ties [ Complicated
ties, I’d say so, and a quandary indeed! Particularly when the
corruption and ties are of the homegrown american variety as in
opium / heroin trade (all but eradicated by theTaliban) and the bribes,
‘takes’, cover-ups, etc., involved therein. ]
U.S. to temper stance on Afghanistan corruption (Washington Post)

[ Sounds like a plan! After all, in america’s own image of corruption, ie.,
bribery, heroin trade, etc., they’re remolding Afghanistan replete with good
old american style corruption and they don’t want no noses pokin’ around
to see america’s direct involvement in the corruption, bribery, etc., and
particularly the heroin trade, the american raison d’etre there where the
Taliban had all but eradicated the heroin production / trade which surged
thereafter with the american participation. The American rationale seems to
be, continue the corruption, etc., since to eliminate same would help the
Taliban. Riiiiight! My, oh my! You can’t make this stuff up.] Military
officials conclude that effort to drive out all but the most corrosive abuses
in region would create a power vacuum that Taliban could exploit.
Previously: Karzai's bid to control inquiries worries U.S. (Washington Post)

[My Lord! You just can’t make this stuff up! The americanization of
Afghanistan … hopelessly corrupt … but american ‘liberators’ want
their cut from the now hopelessly corrupt liberated nation, in
america’s own image, of the heroin trade they’ve worked so hard to
restore.] There is growing concern that U.S. support for the war will
diminish further if voters continue to see the Afghan government as
hopelessly corrupt.
Obama: 'It is time to turn the page' on Iraq war (Washington Post) [ Oh
come on! How patronizing to have wobama spew his b*** s*** which b.s.
has become synonomous with wobama; ‘to give Iraqis the chance to shape
their future’… Iraq’s been destroyed, covered in cancer-causing depleted
uranium, america’s defacto bankrupt, etc. If only teleprompters had a brain
of their own. ] He says the U.S. "has paid a huge price" to give Iraqis the
chance to shape their future -- a price that now includes more than 4,400
U.S. dead.
Stick with that winning plan that worked so swimmingly (as in
drowning, in ie., debt, death, regional if not wordly anti-american
sentiment, etc.)]. In Kandahar, U.S. military officials hope that a secure
green zone, similar to the area in Baghdad, will make it more difficult
for Taliban insurgents to mount attacks to key buildings in the Afghan
city.
7 U.S. troops die in Afghanistan violence (Washington Post) [ I was

discussing my opposition to the contrived conflict in Iraq with a former air
force man with high (top?) security clearance from economic, geopolitical,
and humanitarian perspectives; and further, mentioned I had sought and
gotten an appointment to West Point (I was exempt) so I could go (Vietnam)
as an officer rather than a grunt who were being used as mere cannon
fodder as now in Iraq (I also related the fact that I am thankful, for a
multitude of reasons, I changed my mind in light of then new realities). He
replied, quite seriously, that’s what they’re there for… No they are not! But
yes, that is their unequivocal, unforgiveable attitude beyond the b*** s***
(look at cheney-5 deferments, bush-powderpuff duty courtesy of poppy
bush, clinton-draft dodger, wobama-never served, etc.. Just a destructive
waste!) The latest deaths bring to 42 the number of American forces who
have died this month in Afghanistan after July's high of 66.
U.S. officers weary and humbled (Washington Post) [ Indeed they should
be; and, if they are able to make sense of the last 2 decades particularly,
they are certifiably true american crazy, a condition in the u.s. and among
it’s war mongering allies that is found in self-destructive abundance. No
joke! And then there are the crimes / frauds. My position is also that such
frauds as the disappearance of the 360 tons of $100 bills, etc., and similar
such frauds should come right off the top, a direct reduction in their budget
allocation particularly in light of the defacto bankruptcy of the nation! ]
How Iraq vets make sense of the last seven years will affect how america
wields its military power [very poorly indeed!] .
Is the U.S. exporting terrorism? (Washington Post) [The newspaper that

never sleeps…The Washington Post

Group (P2OG).

troops to stay.


been court-martialed for far less) [
"churn and earn"; huge conflicts of interest if not outright fraud)


CIA sees increased threat from al-Qaeda in Yemen (Washington Post) An

agency's rise and fall (Washington Post) [ Gee! I was hoping they were
referring to the cia in the latter article, but no such luck. The cia’s
already covered the bases; creating enemies when and wherever they
can, real or imagined, and all the while, using the booty from their
plunder / illegal drug ops to bribe anyone who would charged with the
responsibility of stopping them. Yes … this is one of those instances
where they’re all in cahoots to everyone’s detriment. This is the way
things are in a declining / fallen nation as defacto bankrupt america
most certainly is. ]
Obama speech on Iraq has risks (Washington Post) [ Yeah, very true
indeed! The main one being that he’s supplanting that illegal,
unnecessary, nation-bankrupting war with yet another in Afghanistan
which will not be lost on those who supported his candidacy based on
promised end to unnecessary war policies which have diverted time,
attention, ill-afforded resources including personnel and continue to
do so even as defacto bankrupt america crumbles. ]
In Iraq, a precarious time plagued by 'what ifs' (Washington Post) [ How
‘bout in america, a precarious time plagued by ‘what ifs’. What if bush et
als hadn’t lied and brought us this (these) illegal war(s). What if america
hadn’t been bankrupted by these pointless, self-defeating, and endless war
policies. What if wobama had delivered on his promises. What if … ]
‘…"The Americans are leaving, and they didn't solve the problems," said
Falah al-Naqib, a Sunni legislator from the secular Iraqiya bloc. "So far
they've failed and left Iraq to other countries."…’
Fla. pastor reconsiders plan on burning Korans (Washington Post)

[ Sounds like a plan! Riiiiight! ] Amid disagreement over whether deal was
struck to move mosque near Ground Zero in exchange for calling off
burning, he now says he's "suspending" event.
‘We are still determined’: U.S. pastor vows to carry out Burn-a-Koran day
on Sept 11 despite death threats As Gerald Celente said on the show
today, General Petraeus’ comment that burning the Koran could upset
Muslims is the height of hypocrisy. Did Petraeus ever consider the
notion that bombing and occupying their countries also wouldn’t go
down too well? This whole issue is about manipulating us into a
helter-skelter race war as a distraction from the economic collapse
and to rally the country around another war in the middle east.
NYPD Top Cop: Planned Quran Burning Is “Dangerous” [ I personally

wasn’t going to comment on this and let others draw their own
conclusions; especially, as pointed out by Celente, when america’s
been bombing and killing civilian muslims in droves, based on lies,
and even for drug trade pre-eminence, etc.. After all, it’s not too
difficult to dredge up memories of other historical book-burners, ie.,
that Austrian house-painter with a brush mustache, etc.. But really,
isn’t this guy jones a neo-con dream come true? I think he’s just a
publicity seeking, mentally unbalanced dummy. He even looks a bit
like john bolton. But, in america, mental unbalance has become the
new normal. ] Police Commissioner Ray Kelly sided with Gen.
Petraeus last night, calling a planned burning of Qurans on the
anniversary of Sept. 11, “unwise” and “un-American” during the 9/11
Museum and Memorial’s fundraising dinner at Cipriani Wall Street in
Manhattan Tuesday night.
Karzai calls aide's arrest reminiscent of Soviet times (Washington Post)
[ Exactly, eerily, certainly realistically reminiscent of the former soviet
union is the american union in terms of economics (defacto bankrupt),
geopolitics (intensely hated), and even factual similarity (the final
straw), with an unmistakable modus operandi that gives rise to failure
beyond the propaganda. After all, corruption is as american and
pervise as apple pizza pies and mother of hoods, etc. ]
Army supervisor was worried about leak suspect's mental health, attorney
says (Washington Post) [ One cannot help but hearken back to a
frequently deployed ‘government at its worst’ strategy, ie.,
Ellsberg/Pentagon papers, former soviet union, etc., in attempting to
discredit such informants, etc., which of course is a telltale sign of
america’s similar fate / decline / fall. ]
Karzai urges Afghans not to panic as bank withdrawals accelerate

(Post, September 2, 2010; 10:20 PM)
After Iraq war, uncertainty and seemingly mixed messages (Post,

September 2, 2010; 4:26 PM)
Nervous Afghans pull money from Kabul Bank, raising fears (Post,
September 2, 2010)
Army supervisor was worried about leak suspect's mental health,

attorney says (Post, September 1, 2010; 11:16 PM)
Obama prods Mideast leaders (Washington Post ) [ The real question is …

who is going to prod defacto bankrupt, war crimes nation america …
on peace, that is. Then there’s that ‘oh, it’s just war crimes, illegal
nuke-toting israel … laws, rules, un resolutions, etc., don’t apply to
them factor and the concomitant skepticism attendant thereto. ] Israeli
Prime Minister Netanyahu and Palestinian President Abbas are set to
open direct peace talks.
Pentagon expanding 3 bases in Afghanistan 4 U.S. soldiers killed |

Karzai says he helped aide Al-Qaeda fighters take a limited role in
insurgency (Washington Post) [ Sounds like a grand ol’ plan like the
many we’ve heard before. After all, once you’re defacto bankrupt as
america certainly is, more or less bankrupt according to u.s. group
think is a distinction without a significant difference from their failed
perspective ] Analysis of U.S. reports posted by WikiLeaks
underscores extent to which Osama bin Laden and his network have
become invisible figures.
NATO says new contracting rules will help eliminate Afghan corruption
(Washington Post) [ Riiiiight! Well, that sounds like a plan … eliminate
those no-bid contracts to those american palm-greasers … did I say
american? By george, I think I did! ]

Gates starts to outline cuts to save $100 billion for defense (Washington
Post ) [ Oooooh … sounds like a plan! No, not gates’ only slightly less
bankrupt nation plan over 5 years which bearly covers the interest on
the trillion plus for the wars; but rather, Karzai’s plan for u.s.
companies extended to u.s. presence, period! ] Defense Secretary
Robert Gates on Tuesday said the Pentagon must get "more bang for
its buck and shift its focus to the military's needs for the future."
Karzai wants private security firms out of Afghanistan: KARZAI
WANTS COMPANIES OUT U.S. calls 4-month deadline 'very
challenging' (Washington Post) One too many civilian killed. Maybe
they figured out that american non-strategy employing the Hegelian
methodology of creating problems that American firms can solve.
Doomed to failure, they eventually catch on. The bushes were famed
for same but wobama has foolishly been no slouch in this regard.
Afghans still see U.S. as bad guy [Riiiiight! Sounds like a plan … winning
hearts and minds throughout the world … great for exports also as such
‘won hearts and minds’ just love to buy american.] American, NATO forces
retain blame for civilian deaths despite spike from insurgent violence.
Stick with that winning plan that worked so swimmingly (as in drowning, in
ie., debt, death, regional if not wordly anti-american sentiment, etc.)]. In
Kandahar, U.S. military officials hope that a secure green zone, similar to
the area in Baghdad, will make it more difficult for Taliban insurgents to
mount attacks to key buildings in the Afghan city.

clearly a noble task of the highest order that will effect returns manyfold in
the most positive sense for this increasing small and troubled world. ] Just
42 sites across Asia, ranging from temperate forests to tropical grasslands,
are key to the survival of one of the world's most iconic, and feared, wild
cats - the tiger.
A subtler tack to fight Afghan corruption? (Washington Post) [ How about

a not so subtler tack to fight corruption starting right here in the u.s. of a.
where corruption and crime are pervasive and in fact, at the root of the
Afghanistan problems, from american reinvigorated heroin trade to bribery
attendant thereto to killing civilians, etc.. Defacto Bankrupt, Meaningfully
Lawless, War Criminal Nation america, the leader of nations … in crime:
ofperjury.pdf

# 1 United States: 11,877,218
# 2 United Kingdom: 6,523,706
# 3 Germany: 6,507,394
… ]
A quandary in Afghan corruption fight (Washington Post) [ Come on! Is

this some cruel joke? Corruption, lawlessness is now synonomous with
america. Afghans question U.S.-style corruption/capitalism (Washington
Post) [ As indeed they should inasmuch as the same is neither capitalism
nor american style in the traditional sense referenced here. Defacto
bankrupt, in decline, and pervasively corrupt, meaningfully lawless america
is a nation unworthy of emulation! ] Kabul Bank became the pride of
Afghanistan's financial system by offering the conveniences and thrills of
21st-century capitalism. But the scene outside the bank's headquarters
Wednesday was far from that modern ideal.U.S.-backed investigative teams
have assembled evidence of rampant corruption in Afghanistan, and the
findings have had unintended consequences.

failure. Celebritology Weekend: Angelina Jolie biography
arrives(Washington Post ) I usually don’t weigh in on entertainment
news, but this headline concerning what appears to be a disparaging,
and quite selectively so, purported biography of Angelina Jolie is very
disheartening when you consider the numerous instances of failed
leadership at nearly all very high levels of government having so
detrimental an impact on the world, that morton deems his time
appropriate to an actress who has actually tried to do good things
(U.N., etc.) without having to. Indeed, even her latest film ‘Salt’
(spectacular by any standard as is her performance – there are at least
2 winning sequels there with 4 the max and stretching it owing to age
– she puts all, and I mean all the ‘Bonds’ to shame) had an important
message in terms of the damage to this nation by a seemingly
endless, nation-bankrupting, anti-american (war criminal israelis
already, and quite correctly, globally hated) sentiment producing war
strategy that is neither strategy nor reasonably consistent with any
positive american goal / objective; but rather is such a debacle and
folly that the same could very well be one that only an enemy of
defacto bankrupt america could hatch and for the reasoning set forth
in the well-written / directed film. She astutely observed and talked
about the synchronicity of the film as juxtaposed to recent events
revealing that she is wiser than most in Washington.
Afghan spending faces scrutiny (Washington Post) Wow! Talk

about a little bit late for that. Oh, right … they were busy spending
money the nation doesn’t have on other things. Congress extends war
funding for Afghanistan Baltimore Co. Independent Examiner |
Congress voted to extend funding for the war in Afghanistan by an
additional $59 billion late on Tuesday. Disappearing Act: $8.7 Billion
of Iraq Development Money Missing Kurt Nimmo | Government says it
3 U.S. troops
is all the fault of shoddy accounting practices.
die in Afghan war's deadliest month
(Washington Post 7-30-10) World News Digest: a Worth it? 4 U.S.
troops die in bomb blast in south Afghanistan (AP, July 24, 2010)
‘There will be blood’ … whoops, that’s oil, wrong movie theme. This
one’s about heroin trade. 2 More Americans killed in copter crash in
Afghanistan (AP) Not so much, unless they rename Tony Montana, to
To Mon el Swahili and recut ‘Scarface’ to reflect an Aghanistan Heroin
connection, or similarly change ‘Hurt Locker’. It’s a good thing for the
military that IQ tests aren’t required. Three U.S. Embassy guards
killed in rocket attack in Baghdad's Green Zone (Washington Post) Big
yes there since ‘The Green Zone’ got Hollywood movie status. Bomb
near Iraq mosque kills 15; U.S. soldier dies in road blast (Washington
Post, July 22, 2010) But guess what … none of that’s worth it; even for
volunteer soldiers whose suicide rate is unprecedented owing to this
pointless, meaningless conflagration for the sake of the military
industrial complex and the enrichment of the few; and, to which Pat
Tillman was to attest which got him fragged.
Obama reminds veterans he's beginning war's end (Washington Post)

Sounds like a plan! I mean, after all you must have a beginning before
you have an end. Yeah, there’s a certain ineluctable logic to that; a
certain ‘ring’ to it! Like full circuit ‘b*** s***!
Karzai officials on CIA payroll (Washington Post) [Riiiiight! The roster of

allies … love of america breakin’ out all over the region … boy oh boy …
talk about creating your own boondoggles … well, they can afford it. After
all, it’s only taxpayer money and america’s already defacto bankrupt. Then
again, they have the requisite licenses; viz., to kill, to steal, to distribute
illegal drugs, etc.. Whew! Glad they didn’t act without the requisite
licensure.]

corporate and personal courageNSA Has Gotten So Big, Area Around
It Has 112 Acres Of Parking Spaces



February 11, 2009

Israelis, Palestinians already broaching tough topics in talks, envoy says

(Washington Post) ‘US – Israel’s partner in crime, not a referee’
(Infowars.com) Israeli and Palestinian leaders are holding a new round of
direct talks. Bombshell: Barack Obama conclusively outed as CIA creation
Wayne Madsen | Investigative journalist Wayne Madsen has discovered CIA
files that document the agency’s connections to the lives of Barack Obama
and his mother, father, grandmother, and stepfather.

Oh, come on! An israeli probe of an israeli massacre of civilians. Time for
israel to pay; for illegal nukes, for violations of international law, for
continued violations of u.n. resolutions, for provocations as pretexts to
sabotage peace talks, and on and on ad nauseum. Why does america
among other nations feel compelled to sacrifice themselves for the sake of
a global criminal nation with an insatiable greed and blood-thirst as israel?
Strip
Strip?
The israeli Spin-Machine in Overdrive: dershowitz to the Rescue? Armed Israeli

commandos, the elite of the elites, rappelled to the deck of a Turkish ship
carrying humanitarian relief supplies to the 1.5 million prisoners in the Gaza
concentration camp.
In the Middle East, it's still 1947 (Washington Post) [ Indeed it should be!
Among the few times the cia was correct, and they’ve been trying to put
square pegs in round holes ever since, to america’s substantial detriment. I
wonder what what those american sailors of the US Liberty killed by the
israelis would say? USS Liberty Survivor Threatened by Unknown Israeli
This is what happened to Phillip F. Tourney, decorated war hero and
survivor of Israel’s premeditated attack on the USS Liberty 43 years ago.
On the evening of Aug. 6, Tourney was verbally threatened by a foreign
national claiming to work for the government of israel. As for the purported
disdain shown for war mongerer netanayahu, if only wobama’s actions
matched his words, the same would represent a major plus for him and the
nation of america, so sorely in need of pluses whether the same be
budgetary or economic or geopolitical. In fact, for America to abrogate
1948 would guarantee America’s survival, prosperity, and global hegemony
in the most positive sense. ]


The Obama Deception Number 1 on U.S. Google Trends

censored following a spur of the moment campaign to elevate the
movie’s title to the top of the major internet search engines.
In light of this development, I provide an archived site version which

appears to be complete (but will be compared with earlier version and
replaced with same if incomplete)
Censorship Alert: Obama Deception Illegally Removed from You Tube

Made to look like a hack, Thought Police Block Mega-Viral Anti-
Establishment Documentary After More than a Year of Dominating
Viewcounts, Ranking #1 in Search Engines and Waking Up Millions to
the False Left-Right Paradigm Perpetuated by Obama.
Public confidence in Obama reaches new low (Washington Post). Six in 10
Americans lack faith in Obama and hold lower esteem for members of
Congress, according to the latest Washington Post-ABC News poll.
Such stats as this tend to typify scenarios as this where you break
every significant campaign promise that got you elected, from
endless war (ie., Afghanistan, etc.) to not prosecuting the frauds on
wall street, and the growing realization of ‘typical’: Public confidence
in Obama reaches new low (Washington Post) Six in 10 Americans
lack faith in Obama and hold lower esteem for members of Congress,
according to the latest Washington Post-ABC News poll. Such stats as
this tend to typify scenarios as this where you break every significant
campaign promise that got you elected, from endless war (ie.,
Afghanistan, etc.) to not prosecuting the frauds on wall street, and the
growing realization of ‘typical’:
But still it’s ‘hands off fraudulent wall street’ to theirs, the nation’s, and the
world’s detriment. Firms subpoenaed in attempt to regain Fannie,
Freddie losses (Washington Post). But there’s a reason:
PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE... ‘In
emotional and personal testimony, an ex-Justice official who quit over
the handling of a voter intimidation case against the New Black
and white victims ...’ US v. AZ... Cases against Wall Street lag
despite Holder’s vows to target financial fraud Washington Post |
Obama has promised to hold Wall Street accountable for the
meltdown. ):

_from=PL&index=0&playnext=1 – well worth a look. [ The Obama
Deception Number 1 on U.S. Google Trends ]
While boner and barton are indeed jokes / vegetables that bespeak the
single-digit approval rate for congress, obama’s failure to deliver on
promises with as well, endless war spending despite defacto
bankruptcy of the nation and a watered down nothing financial
regulation bill for talking points but little substance, make him as big a
joker. This well researched / produced video tells the real story :
http://www.youtube.com/watch?
_from=PL&index=0&playnext=1 ‘THE OBAMA DECEPTION’ – well
worth the view. [ The Obama Deception Number 1 on U.S. Google
Trends ]
censored following a spur of the moment campaign to elevate the movie’s
title to the top of the major internet search engines. In light of this
development, I provide an archived site version which appears to be
complete (but will be compared with earlier version and replaced with same
if incomplete) http://albertpeia.com/obamadeceptionhighqualityversion.flv

Goldman agrees to pay $550M (Washington Post) My own skepticism

based on the disparate numbers (the size of the frauds compared to
the relatively small fine) and as set forth in the initial reactions /
headlines that immediately follow has been allayed somewhat by an
interview on NBR with former SEC head Ruder who explained the very
narrow scope of the settlement which in no way shelters goldman
from the huge frauds they have perpetrated. So long as this is true in
fact as well as law and in application, the SEC deserves praise as has
been so under the auspices of ‘Mother Mary’ who appears to have the
gonads lacking in prior SEC heads. The frauds on wall street et als
should be criminally prosecuted, jailed, fined, and disgorgement
imposed.
Iran connects U.S./israel to deadly blasts I believe Iran!

move towards
Stepped-up efforts fail to stem drug money (Washington Post) [ Come on!
Wake up! That’s american, yes american big business. The stuff that the
war in Afghanistan is made of; viz., ie., heroin, etc.. ]Stashing cash in spare
tires, engine transmissions and truckloads of baby diapers, couriers for
Mexican drug cartels are moving tens of billions of dollars in profits south
across the border each year, a river of dirty money that has overwhelmed
U.S. and Mexican customs agents.
Carlyle-owned toy supplier files for bankruptcy (Washington Post) [ What is

a bush-involved company of paper (leveraged instruments, etc.)
pushers doing with any company doing business in the u.s. or
elsewhere for that matter. The bushes are vegetables who really can’t
do anything well, except maybe, war, war crimes, fraud, illegal drug
deals (Iran contra, etc., http://albertpeia.com/CIAAgentAffidavit1.jpg ) ]
State Dept. faces skyrocketing costs as it prepares to expand role in Iraq:

Waning resources could endanger security gains, lawmakers are told
(Washington Post) [ The ‘new never ending story’! america’s defacto
bankrupt! Dat’s the story, jerry! What gains? Iraq’s destroyed. Iraq’s
‘covered’ in depleted uranium. The people are devastated. america’s
defacto bankrupt. Come on! We’re getting close to biblical stuff here!
There’s just no excuse for this compounding of war crimes committed
by the u.s. and ‘friends’.]
Mideast Digest: Iran's Ahmadinejad calls for regional solution to Afghan

crisis (Washington Post) And appropriately so, as leader of a nation in the
region as opposed to invading nations from outside the region (particularly
as one targeted by assassins the likely assigns of those outside the
region).
GOP chairman: Afghan 'war of Obama's choosing' (AP) - Republican

chairman Michael Steele drew criticism from within his own party
Friday, including calls to resign, after saying the 9-year-old
commitment of U.S. troops to Afghanistan was a mistaken ... [Steele is
quite right and wobama and war facilitators deserve criticism; not
Steele.]
Judge: 'Don't ask, don't tell' is unconstitutional (Washington Post) [ Well,

we all know that judge walker is alledgedly a homo, so the question here is
whether judge phillips is a lesbian… just kidding! Not to slight
homosexuals but to emphasize judicial bias / corruption which is pervasive
in america and I’ve observed, experienced, and have been substantially
damaged by pervasive and systemic corruption in the american judicial
process which has become more blatant and which justifies the abolition of
these costly, corrupt lifetime appointment / bureaucracies. The fact is that
‘don’t ask, don’t tell’ is the policy throughout the pervasively corrupt
federal system which is indeed as illegal as it is unconstitutional! (
ofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ). ]
Ex-Justice official: CIA may have exceeded limits (Washington Post) Wee
doggies! This sounds like the stuff that SNL Weekend Update ‘Really’
skits are made of; also fitting into that list of queries as, ‘Is the Pope
Catholic?’, ‘Do bears **** in the woods?’, etc.. Come on! Wake up!
This is the kind of complicit cover-up / corruption found betwixt and
between all three branches of the u.s. government leading ineluctably
to america’s current decline and to which I’ve attested under penalty
of perjury in the context of the RICO litigation [
naltyofperjury.pdf

ofperjury.pdf
attorney.
Posted by: mnjam

-----------------------



----------------------------


u.s. government.
government, and the intelligence agency needs to be “taken out.” I
also personally believe there has been a defacto coup d’etat which
has manifested in various substantial, blatant, brazened frauds, ie.,
wall street, missing 360 tons of $100 bills in Iraq, war profiteering, etc.,
without any fear of prosecution, and of course concomitant decline for
u.s. as the treasury is looted. But I also believe its scope is beyond
just the CIA with many complicit within the corrupted 3 branches of
u.s. government (fed judges, us attorneys, illegal system, etc.) plus
the military and private big money, ie., Goldman Sachs / wall street
men, etc., among other organized crime. america is defacto bankrupt
in every way!
Rendition: Where the War on Terror Meets the War on Drugs Patrick
Henningsen | It’s time to ditch the policies we have come to tolerate for
decades before they consume what is left of our moral core. I’ve
experienced the corrupt inter-relationship of the government (all 3
corrupt branches) and the illegal drug trade / obstruction of justice /
bribery first hand, particularly the courts / u.s. attorneys offices (ie.,
alito – now u.s. supreme court justice – quid pro quo for his
complicity / cover-up), feds; see immediately after article excerpt for
links / summary.

Morocco…

yofperjury.pdf
america’s just a fraudulent and failed defacto bankrupt nation.


bad idea!

alone.
Strip?

Israeli commandos, the elite of the elites, rappelled to the deck of a
Turkish ship carrying humanitarian relief supplies to the 1.5 million
prisoners in the Gaza concentration camp.
imposed on Iran.
Billo Says:
June 11th, 2010 at 6:15 am
controlling us?
Glen Reply:
June 11th, 2010 at 6:47 am
Lunacy it would be.
threats.



OOOOH! ISRAEL NOW IN FAVOR OF NUKES IN THE MIDDLE EAST IN

SUDDEN SHIFT IN POLICY TO FAVOR IRAN IN A VERY BIG WAY! ISRAEL
SEES THE LIGHT AND SIDES WITH IRAN ON NUCLEAR ISSUE;
East.
weapon

video ...


host body.



Strip



Previously I wrote:

Regards,
Al Peia


naltyofperjury.pdf
]

supplanted with alternatives as I’ve previously set forth in prior
comments.

Response to App. Div. OSC

STATE OF CALIFORNIA ethics complaint
Response to Sup.Ct. OSC
designation of record on appeal
The so-called "order" appealed from.
Typical corrupt banana republic america/california court

enaltyofperjury.pdf
from Wall Street

naltyofperjury.pdf
]

http://www.scribd.com/alpeia

Drudgereport: JUNE UNEMPLOYMENT 9.5%... 125,000 JOBS LOST...

New jobless claims rise [again]...
'Surprise'...
Pending home sales plunge record 30%...
Weak economic data suggest 'recovery' fizzling...
Fears mount over slowing global demand...
UN committee calls for dumping US dollar...
Six Months to Go Until the Largest Tax Hikes in History...
KRUGMAN: 'We are now, I fear, in the early stages of a third depression'...
STOCKS HIT LOWEST OF YEAR...
DEBT SOARS TO HIGHEST LEVEL SINCE WWII...
PRIVATE SECTOR SEES WEAKER JUNE JOBS...
Sputtering...
Bilderberg 2010: Between the sword and the wall...
Protesters 'being detained, searched, questioned'...
Final List of Participants...
Stephen Hawking: Aliens exist but don't talk to them -- it's too dangerous
… might not like us… Oh pshaw! … Human nature, man’s inhumanity to
man? … Such humble beginnings and evolutionary history … What’s not
to like? … Besides, not to worry. With their advanced technologies that
defy human understanding, the aliens already know you’re here … to stay.
So, not to worry. After all, as we know from that documentary of that same
name, ‘Earth Girls Are Easy’ … and then there’s photosynthesis on earth in
a very big way also going for it! ...
Seeing Aliens Will Likely Take Centuries. Centuries? Not goin’ to happen;
at best, decades.

September 16, 2010 Posts

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September 16, 2010 Posts

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Business / Economic / Financial

Leading Economic Indicators Continue to Suggest Return to Contraction Is

U.S. Economy "Gradually Deteriorating," Levy Says: Recession Likely in

Philadelphia Manufacturing Index Falls

Gold Rises to Record on Increased Demand for Wealth Protection

Regional Manufacturing Still Deteriorating

Census Reveals 45m Americans Living in Poverty One in seven Americans

Gold to Surge 50% to ‘Real’ Record? Gold’s resilient trend higher to a

August Foreclosures Highest on Record RealtyTrac, an online foreclosure

Eco-Fascists Call For Tyranny To Enforce Draconian Agenda Paul Joseph

Globalist Foundation Exploits Angry Child to Blame Adults for Fake

Shock Audio: DC Congresswoman Leaves Voicemail Asking For Lobbyist

O'Donnell's win throws a challenge at the GOP (Washington Post) [ Aw

Justice Breyer Suggests “Globalization” Trumps First Amendment

Empire State Manufacturing Falls in September

Technical Resistance: Here We Go Again Hui ‘…The odds seem to favor

The Dow Is Overbought on Its Daily Chart

I’ve had a couple of conversations lately with people who

Delusion #1 is that we’re on the road to recovery, just more

But it’s not at all true. GDP is growing below potential;

This is what a depression is all about — an economy that 33 months after a

Harry Dent, Jr. Economy will be in a Depression by 2011

Economists Herald New Great Depression The world is currently

Industrial output growth slows (Reuters) WASHINGTON (Reuters) – ‘U.S.

Shocking CNBC Headline: “Home Price Double Dip Begins” Diana

Justice Breyer Suggests “Globalization” Trumps First Amendment

Government Bans Tea Party From Celebrating U.S. Constitution Local

Globalist Soros Declares “Gold Is The Ultimate Bubble”… Again Billionaire

Anti-Establishment Fervor A Hammer Blow To Washington Elite Amidst the

Secretive Executive Order Establishes ‘Big Brother’ Health Bureaucracy

Anti-Establishment Fervor A Hammer Blow To Washington Elite Paul

Pennsylvania Homeland Security Puts Anti-tax Protesters On List of Terror

Pearlstein: A bold new breed of bank regulators (Washington Post) [ Wow!

Asian sites' protection urged to save tigers (Washington Post) [ This is

Buried Alive - Prominent Sell Signals

Hatzius: The Risks Are Still to the Downside

‘The Great American Stickup’: It Was The Economy, Stupid It is not

John Williams Sees The Onset Of Hyperinflation In As Little As 6 To 9

Asian sites' protection urged to save tigers (Washington Post) [ This is

Peace Activist Cindy Sheehan: “I am A 9/11 Truther” Cindy Sheehan, the

Allegation: Americans Flooded Out Millions in Pakistan to Protect U.S.

The Biocratic Utopians Part I: Prussian Grenadiers Jurriaan Maessen | The

Gold and Silver Explode as Banksters Abandon Market Manipulation Kurt

Expanding U.S.-Canada Security and Economic Partnership Dana Gabriel |

Banks miss TARP payments (Washington Post) [ Sounds like a plan! …

Economy's fallout (Washington Post) The fallout of a troubled economy

Doomsday warnings of US apocalypse gain ground AFP | Economists

CRIME STATISTICS > TOTAL CRIMES (MOST RECENT) BY COUNTRY

Rank Countries Amount

Doomsday warnings of US apocalypse gain ground AFP | Economists

Tim Geithner Warns: The US Is At Risk Of A 1930s Repeat If the

M2 Surges By $30 Billion In Past Week To Highest Ever, Even As Monetary

· 1172 of all community banks (14.8%) are overexposed to Construction &

· 1432 or 18.1% are overexposed to Nonfarm / Nonresidential real estate

· 2504 or 31.7% are thus overexposed to Commercial Real Estate loans.

· 293 of the 1306 publicly-traded banks are overexposed to C&D loans

· 394 are overexposed to Nonfarm / Nonresidential real estate loans.

· 697 thus have significant real estate loan pipeline stress.

• JP Morgan Chase (JPM) with $1.72 trillion in assets has a pipeline of

U.S. Trade Deficit Still Growing

Defacto Bankrupt, Meaningfully Lawless, War Criminal Nation america, the

CRIME STATISTICS > TOTAL CRIMES (MOST RECENT) BY COUNTRY

Rank Countries Amount

DEFINITION: Note: Crime statistics are often better indicators of prevalence of