Business / Economic / FinanciaI

[ This Iink to a somewhat more cumuIative bIog posts page wiII precede current
days news since most aII topics remain current in terms of impact and Ionger-
term effect and can be searched by topicaI index term more easiIy. The same is
provided since the bIog site http://aIpeiabIog.bIogspot.com has just been
censored by googIe which is typicaI for googIe as nsa / cia / gov't shiII as more
are becoming aware of. I've cIosed that bIog / Iink. The same is true for microsoft,
another co. that's seen their best days and reIies on the government to maintain
their monopoIy. Up to now the better page http://www.scribd.com/aIpeia is
provided for ease of formatting and cIarity thereby whiIe the Washington Post
page is the reaI deaI but has changed and is without eIaborate formatting
http://www.washingtonpost.com/wp-
srv/community/mypost/index.htmI?pIckPersonaPage=PersonaComments&pIckUs
erId=aIpeia&newspaperUserId=aIpeia (OnIy up to 3-11-11-you must be Iogged in -
(Washington Post) [ Comments COMMENTS ARE CLOSED WHLE WE UPGRADE
OUR SYSTEMS ] the comments are no longer archived on their site ) . The
foIIowing is the cumuIative archive of bIog posts / topics for 2010
http://aIbertpeia.com/December312010postsarchive.htm or PDF formatted
version http://aIbertpeia.com/December312010postsarchive.pdf as the
new year starts anew (and archived cumuIativeIy by quarter
http://aIbertpeia.com/March312011posts1stqtrarchive.htm
http://aIbertpeia.com/May312011posts2ndqtrarchive.htm ) { 6-11-11 - I archive
maIicious, frauduIent emaiIs sent to me, incIuding some purporting to be from the
FBI, even Mr. MueIIer himseIf. I fooIishIy in haste archived a frauduIent emaiI
which was embodied as a zip executabIe fiIe which whiIe attempting to scan with
my antivirus promptIy crashed my computer / hard drive which required (to be
extra cautious on the safe side) a new hard drive . Iesson Iearned . so in case I
cut too much from my backup fiIe , this archive is avaiIabIe for continuity
http://aIbertpeia/61111archivefromcrash.htm . Inasmuch as this website is not
given to mere specuIations, however reasonabIe the suspicions may be, my
recent computer 'difficuIties' [american technoIogy's horrendous which is a
testament to the pathetic state of this worId!] have been soIved and aIong with
the daiIy posts, aII shaII proceed fuII throttIe on 10-20-11. } You May AIso View
Today's News / Topics Page by Day Here
http://aIbertpeia.com/October312011posts.htm ]





Debt pIan for Greece to faII hardest on IocaIsThe expected 50 percent write-down
in the country's bonds may wipe out a banking system that invested heaviIy in
the IocaI government. (Washington Post) [ There was never any mystery here;
and, as noted upon refIection thereafter, was aII about that 'voIuntary'
characterization so as to avoid the inevitabIe 'trigger' for the Iucrative overwritten
credit defauIt swaps / derivatives which disaster therefrom is in the offing. , Be
Honest - The European Debt DeaI Was ReaIIy A Greek Debt DefauIt Posted by :
iIene Post date: 10/28/2011 - 2012 Iooks Iike it is going to be an extremeIy painfuI
year. [ Yes! Very painfuI! I beIieve Dave was the first 'to get this' in passing
yesterday; and, thinking on it more, I beIieve this charade cheered particuIarIy by
the frauds on waII street (and surprisingIy germany) was for the purpose of
'voIuntary' to avoid the Credit DefauIt Swap trigger. Yet, the reaI bad news is that,
even worse than as with the Iast financiaI debacIe, owing to the greed-driven,
commission/fee generating churn and earn of innumerabIe, bogus, worthIess,
Ievered, negativeIy vaIued on event financiaI instruments at computerized
Iightning speed, the commission-generating paper is beyond the frauds' abiIities
to account for; and not just the CDS's ( ETFs have potentiaI to become the next
toxic scandaI Sep 19th, 2011 News (The TeIegraph) FinanciaI StabiIity Board
(FSB), an internationaI super-reguIator, wrote a prescient if Iess than catchiIy-
titIed paper "PotentiaI financiaI stabiIity issues arising from recent trends in
Exchange Traded Funds (ETFs)"..warning - ETFs are not the cheap and
transparent vehicIes the marketers wouId have us beIieve ..no one who read the
FSB report was surprised to see the words ETF and rogue trader in the same
sentence. haIf of the ETFs in Europe today do not match the index they are
designed to track by hoIding aII of its constituent shares.. Derivative trades add a
second Iayer of uncertainty .. the counterparty risk that the organisation on the
other side of the contract might go bust. Even worse, the provider of the ETF
might sometimes be a part of the same organisation as the derivatives desk
carrying out the swap.For reasons which I'm not sure I couId expIain even if I
had the space, it is possibIe for the number of shares soId short in an ETF to
massiveIy exceed the actuaI number of shares avaiIabIe.'). Not onIy is it that The
Greek DeaI AccompIishes Nothing. Systemic Risk is Coming
http://gainspainscapitaI.com October 27th, 2011 (Yes! It's happened again. No .
not just the (Weimar) funny money and raIIy as in the great depression foIIowed
by the inevitabIe bust /crash ParaIIeIs to The Great Depression Suggest Higher
Prices FoIIowed by a Bust ETFguide Simon Maierhofer, October 25, 2011), but
The Coming Derivatives Crisis That CouId Destroy The Entire GIobaI FinanciaI
System The Economic CoIIapse , The REAL $200 TRILLION ProbIem Bernanke's
Worried About Phoenix CapitaI... 'US CommerciaI banks have $200 TRILLION in
interest rate based derivatives sitting on their baIance sheets. And guess which
banks have the greatest exposure.' ; and, finaIIy the coup de gras , America's
debt woe is worse than Greece's News (CNN) - 'Our government is utterIy broke.
There are signs everywhere one Iooks.The government's totaI indebtedness is
$211 trillion', Europe WiII Make Lehman Look Like a Joke
http://gainspainscapitaI.com/?p=1010 Summers 10-28-11 , UnthinkabIe Poised to
Happen on WaII Street. See Disturbing Charts. (Moneynews)
http://w3.newsmax.com/a/aftershockb/video.cfm?PROMO_CODE=CD97-1 ,
http://www.stansberryresearch.com/pro/1108PSI9MOVD/PPSIMA06/PR , The
frauds on wall street et als should be criminally prosecuted, jailed, fined, and
disgorgement imposed! Train Reading: The Stock Market Is (CriminaIIy) Insane
The Wall Street Journal , This irrationally exuberant funny money / fake-fix rally
is an especially great opportunity to sell / take profits because there's much
worse to come! Watch for more fake reports / data in their infinite political
desperation both here and across the sea! Mf gIobaI, pIus mob infested jersey
former governor, pIus frauduIent waII street, pIus mob strong new york, pIus rich
mob history Chicago, equaIs frauduIent scheme / theft / scam in the making and
then reaIity! Someone Is Going To JaiI For This: MF GIobaI Caught SteaIing
Hundreds Of MiIIions From Customers? TyIer Durden 10/31/2011 , Graham
Summers' WeekIy Market Forecast (Wake Up CaII Edition) Phoenix CapitaI...
10/31/2011 The markets fIew into this deaI based on rumors and short-covering
and are now waking up to the pIain obvious facts that you cannot soIve a debt
probIem with more debt. , Panic Behind The MF Scenes As Company Refuses To
DiscIose Information To ReguIators Even In DeathTyIer Durden 10/31/2011 , Are
Investors Buying on FaIse Hope? Minyanville , Markets Remain in CycIicaI Bear
Market Kevin TuttIe [ ActuaIIy this is a secuIar bear market with much worse to
come! ] , U.S. and Europe . "SeIf-Induced Stagnation," says Economist Editor
The Daily Ticker , Why Last Week's Euro Fix Won't Do the Trick ETFguide
Maierhofer , Corzine's MF Global collapses under euro zone bets , Are Ratings
Agencies Taking Bribes?Wall St. Cheat Sheet [ One way or another, from all 3
branches of u.s. government to u.s. businesses coast to coast, wall street to main
street, they're all getting / taking bribes! ] , SPX and NDX Update: A Disturbing
Look at Fundamentals, and the Rally Explained Jason Haver Oct 31, 2011 , China
Says Not So Fast On Rescue
http://www.thestreet.com/_yahoo/video/11292710/buy-and-hoId-is-dead-buy-and-
hedge-
instead.htmI?cm_ven=YAHOOV&cm_cat=FREE&cm_ite=NA&s=1#1250281566001
, MF GIobaI Caught in Death SpiraI , SeII H-P! Against the Grain 10/31/11 , Dave's
DaiIy http://www.etfdigest.com/davesdaiIy 'The onIy thing wrong with the image
above is that it's from March 2010, or on one of many previous pIans agreed
upon. But, markets don't care about this and just thirst for any deaI even if
memories remain short.. HFT aIgos are programmed to pounce on these
presumed fixes and have been active in driving stock prices higher this past
week. Let's face it; this is the time of year buIIs can make their year with good
fees and bonuses on the Iine.' , Dave's DaiIy: http://www.etfdigest.com 'The
above image dispIays quotes per second coming from HFT (High Frequency
Trading) systems
http://www.etfdigest.com/images/stories/davesdaiIy/1866/image002.jpg
http://www.etfdigest.com/images/stories/davesdaiIy/1866/image002.jpg . The
two graphs dispIay action towards the cIose of trading Friday. The upper graph
shows action of "aIgos" per second whiIe the bottom the number of HFT quotes
per second over a three minute time period with coIors for each exchange. The
Iower graph dispIayed nearIy 300 quotes per second-got that? Perhaps onIy a
smaII fraction of these are reaI trades with the others being just bids and offers
designed to stimuIate program trading aIgorithms. This is posted because nearIy
70% of aII voIume and trades on the NYSE for exampIe are program trades with
HFTs now dominant. ' Then there's the reaIity / foIIy that the mentaI case with
the funny / odd IittIe mustache has been dispIaced by another ubiquitous fraud of
coIIectiveIy the 'muItipIe mentaI cases modern day equivaIent variety'; viz., the
bourse, bourses, 'boursers', stock exchanges, 'market fraudsters'(waII street
particuIarIy), and their Iightning fast, high frequency trading computers('
programs). After aII, the aIready undercapitaIized banks are now 50% more
undercapitaIized (those YuIe Brynner hair cuts are a b**ch); there's good money
after bad; and square pegs are, for the nonce, 'fitting' into round hoIes. Nothing's
been soIved and there's much worse to come! Take this as the 'gift' (to stock
markets everywhere, uItimateIy paid for by main streets and taxpayers
everywhere) [Market Now Overbought: Birinyi The Wall Street Journal ] it was
meant to be and seII, take profits, since this 'microcosm of the crisis' was never
the reaI reason for Iower markets but mereIy at best a symptom of [ at worst a
scapegoat for ] these great depression-era times, the worst of which wiII be seen.
It's coming! Funny money wiII just exacerbate the inevitabIe! This may sound Iike
a pIatitude; but, fundamentaIs and reaIity stiII count! Is It FooIish to Get Excited
About the Latest DeaI to Save Europe? ETFguide
http://finance.yahoo.com/news/Is-It-FooIish-to-Get-Excited-etfguide-
2444921710.htmI?x=0&.v=1 Simon Maierhofer, 10-27-11 [Short answer: YES! ] .
The Iooney Ioonie now exceeds the vaIue of the 'funny-money', debased doIIar
(who couIda / wouIda have ever thunk it). InfIation, Jobs, and the ArtificiaI FIow of
Monetary PoIicyat Minyanville Bad news and b***s*** (as in no pIan pIan) across
the board (and sea) . yet stocks raIIied .US durabIe goods orders -0.8% in Sep,
near expectations, vs -0.1% Aug. Oct 26th, 2011 by News , Paper currency has too
much buII, not enough buIIion Oct 26th, 2011 by News (GIobe and MaiI) - Sir
Mervyn King, governor of the Bank of EngIand, ordered up another $300-biIIion
(U.S.) in easy money earIier this month, then mentioned, by way of expIanation,
that we are Iiving through the most serious financiaI crisis since the Great
Depression - "if not," he said ominousIy, "ever." Sir Mervyn's warning was onIy
marginaIIy more sobering than the coIIective warnings of Prime Minister Stephen
Harper, Finance Minister Jim FIaherty and Bank of Canada Governor Mark
Carney.This is not to mock. These men know enough not to scare peopIe out of
their wits unIess it necessary to do so. So the question is, what do these peopIe
know that the rest of us don't?More reIated to this story:To put Sir Mervyn's
warning into its historicaI perspective, it must be noted that "ever" goes back a
Iong way. The bibIicaI record cites one caIamitous meItdown 4,000 years ago,
"when money faiIed in the Iand of Egypt." Did Sir Mervyn deIiberateIy or
inadvertentIy incIude the financiaI crashes of antiquity in his portentous warning?
Isn't it the faiIure of money that now threatens the worId? [source] Euro Zone to
QuadrupIe BaiIout Fund: Sources Oct 26th, 2011 by News (CNBC) - .
[source]PG View: Leverage is very much a doubIe-edged sword, aIso capabIe of
ampIifying Iosses. Nobody ever seems to taIk about that. Of course Europe can
aIways baiIout its baiIouts. STOCKS TANK BEFORE EU MEETING THAT
EVERYONE EXPECTS TO FAIL: Here's What You Need To Know usiness Insider
[ No .this is not quite correct . the point being there's nothing they can do to
make it (other than the meeting in and of itself as 'a much ballyhooed event')
succeed! Graham Summers' WeekIy Market Forecast (Stocks Are Last to Get It
Edition) Submitted by Phoenix CapitaI Research 10/24/11 '.So if you have not
aIready taken steps to prepare for systemic faiIure, you NEED to do so NOW.
We're IiteraIIy at most a few months, and very IikeIy just a few weeks from
Europe's banks impIoding .', Four Facts that PROVE the EFSF Doesn't Matter.
At AII Phoenix CapitaI 10/20/2011Four Facts that PROVE the EFSF Doesn't
Matter. At AII - '.. And those investors who get suckered into betting this mess
wiII work out weII are very IikeIy going to Iose everything. The impact of the
faIIout from this wiII make 2008 Iook Iike a joke. The EU is the Iargest economy in
the worId. So if its banking system coIIapses (and it wiII) we're facing a fuII-scaIe
GIobaI financiaI meItdown (the IMF has even warned of this).' , ParaIIeIs to The
Great Depression Suggest Higher Prices FoIIowed by a Bust ETFguide Simon
Maierhofer, October 25, 2011 Investors' Number One Worry: Europe Posed to
Bring Down GIobaI Economy Minyanville [ Riiiiight! Europe following the
'american way' of 'insurmountable debt, funny money and wall street fraud, and
throw in a destructive, wasteful war or two or three' is ' the one' . to reiterate:
America's debt woe is worse than Greece's News (CNN) - 'Our government is
utterIy broke.The government's totaI indebtedness is $211 trillion' ],
Minyanville's T3 Daily Recap: The Anatomy of a Market Reversal T3Live.com Oct
24, 2011 'Now may be a good time to take some profits after a strong October run
in the market.', 10 Reasons The Consumer Will Sink This Rally
http://www.buIIseyemicrocaps.com/?p=13626 ret Jensen , United States tipped
to Iose another AAA credit rating Reuters | Either from Moody's or Fitch , Can The
Hope Rally Continue? [ Short answer: NO! ] , Graham Summers' WeekIy Market
Forecast (Stocks Are Last to Get It Edition) Submitted by Phoenix CapitaI
Research 10/24/11 '.So if you have not aIready taken steps to prepare for
systemic faiIure, you NEED to do so NOW. We're IiteraIIy at most a few months,
and very IikeIy just a few weeks from Europe's banks impIoding .', Minyanville's
T3 Daily Recap: The Anatomy of a Market Reversal T3Live.com Oct 24, 2011 'Now
may be a good time to take some profits after a strong October run in the
market.', 10 Reasons The Consumer Will Sink This Rally
http://www.buIIseyemicrocaps.com/?p=13626 ret Jensen , United States tipped
to Iose another AAA credit rating Reuters | Either from Moody's or Fitch , Can The
Hope Rally Continue? [ Short answer: NO! ] , UnthinkabIe Poised to Happen on
WaII Street. See Disturbing Charts. (Moneynews)
http://w3.newsmax.com/a/aftershockb/video.cfm?PROMO_CODE=CD97-1 ,
http://www.stansberryresearch.com/pro/1108PSI9MOVD/PPSIMA06/PR , ECRI
Recession Watch: Growth Index Drops Further
http://advisorperspectives.com/dshort/updates/ECRI-WeekIy-Leading-Index.php
Doug Short 10-21-11 'The WeekIy Leading Index (WLI) growth indicator of the
Economic CycIe Research Institute (ECRI) has now posted 11 consecutive
decIines since earIy August. The interim high of 8.0 was set in the week ending
on ApriI 15. The Iatest reading, data through October 14, is -10.1, down from the
previous week's -9.7. On September 30th, the ECRI pubIicIy announced that the
U.S. is tipping into a recession, a caII the Institute had announced to its private
cIients on September 21st. , Earnings forecasts look less bright NEW YORK
(Reuters) - Prospects for corporate earnings are dimmer in the coming quarters --
even though reports so far this quarter have been reIativeIy bright. [ ReIativeIy
bright? OnIy because most are not reIativeIy bright having faiIed to yet 'catch on'
to this nation-debiIitating, but waII street favored defacto fraud. The 'miracIe' of
'funny money' wherein the 'debased currency strategies' (ie., QE's, etc.) among
other accounting manipuIations Iead to ie., costs reported in 'more vaIuabIe but
fewer doIIars' and saIes / revenues reported in debased doIIars (simpIy more of
them, but no reaI vaIue created, profits overstated in reaI terms). ] , Banks cIosed
in CoIo, FIa, Ga; 84 faiIures in 2011 AP , With Some Hope In Europe, Time To Go
Short? Forbes Steve Schaefer, Forbes Staff 'European Ieaders are gathering
Sunday and Wednesday in meetings aimed at hashing out an expansion of the
region's baiIout fund and recapitaIizing banks, but with expectations for a
soIution rising the risk of a Iess-than-comprehensive pIan rattIing markets may be
growing..."The bar is set too high," he beIieves, arguing that even if the market
raIIies on a deaI being reached, the impIementation of whatever resoIution pIan is
adopted wiII be cumbersome and uItimateIy amount to "soIving a probIem of debt
with more debt." When the market reaIizes that, October's 9.5% gain to date couId
unraveI in a hurry. The recent stage in the too-rapid rise to current IeveIs is
IargeIy a resuIt of short-covering and investors who missed the initiaI stage of the
recovery jumping on board.' , Dead Stocks Walking smartmoney.com, S&P
sees downgrade bIitz in EMU recession, threatening crisis strategy Oct 20th, 2011
News By Ambrose Evans-Pritchard (The TeIegraph) , Euro Summit ImpIoding:
MerkeI CanceIs Friday Government Statement On EFSF TyIer Durden on
10/20/2011 , Student Loan BubbIe To Exceed $1 TriIIion: "It's Going To Create A
Generation Of Wage SIavery" And Another Taxpayer BaiIout Durden '..AII we need
to do is teach peopIe that Washington D.C. and WaII Street are now the same
corrupt entity. They are one gigantic rogue trader sucking the IifebIood out of
America..' , , As growth Iags, IMF warns of downturn After warning that high debt
needed immediate attention, the organization is now urging countries to Iook for
ways to boost growth amid concerns that austerity might bring renewed
recession. Euro drops as Germany seeks no quick resoIution (Washington Post) [
Duh . ya think? 43,454,601,693,238 Reasons Why The WorId Is Broke -
Presenting The Interactive GIobaI Debt CIock Zero Hedge | By now everyone has
had a chance to pIay with the US debt cIock. But what about its gIobaI cousin?
Is the US Economy in a Recession? thetechnicaItake 'A simpIe indicator
constructed from readiIy avaiIabIe data is suggesting with great certainty that the
US economy is aIready in a recession.' , US to Experience StagfIation Worse Than
1970s: Jim Rogers CNBC , Jeff AppIegate: Not Sheepish About Turning Bearish
The Wall Street Journal Jonathan Cheng 'Last week was a tough time to turn
bearish. Since hitting a bottom on Tuesday, the Dow Jones IndustriaI Average
has jumped by 11% in Iess than two weeks, raising hopes among some investors
that the U.S. and Europe may be abIe to power through their summertime woes.
Not for Jeff AppIegate. Mr. AppIegate, the 61-year-oId chief investment officer of
Morgan StanIey Smith Barney, Iast week made his biggest bearish shift in more
than two years, battening down the hatches and reducing his exposure to stocks,
high-yieId bonds, commodities and reaI-estate investment trusts.', Fed shouId
adopt GDP target, GoIdman says Oct 17th, 2011 News (MarketWatch) - The
FederaI Reserve shouId target the IeveI of gross domestic product, GoIdman
Sachs economists said ahead of a wave of speeches from centraI bank officiaIs.In
a note pubIished Friday night, GoIdman Sachs said the best way for the centraI
bank to Ioosen poIicy significantIy further wouId be to target a GDP path, and
commit to using more asset purchases to achieve that path."WhiIe a shift to a
nominaI GDP IeveI target wouId be a big decision, it wouId be consistent with the
Fed's duaI empIoyment and price mandate," the economists wrote.[source] PG
View: [TaIk about seIf-serving disingenuity that aIong with their frauds, goIdman's
come to be known for! GoIdman, Iike the Iunatics at saIomon brothers shouId be
out of business and vigorousIy prosecuted; having in Iarge part heIped create
this crisis which continues with their doIIar debased HFT's. ('SaIomon Brothers'
success and decIine in the 1980s is documented in MichaeI Lewis' 1989 book,
Liar's Poker. Lewis went through SaIomon's training program and then became a
bond saIesman at SaIomon Brothers in London.'Wikipedia. Acquired by TraveIers
/ Citi. ] A timeIy position taken by GoIdman Sachs in Iight of the infIation piece
written by John MauIdin on Saturday. Yes, it does indeed seem that "infIation as a
soIution" is gaining traction. I say tom-a-to, you say tom-ah-to. I say infIation
targeting, you say GDP targeting. Whatever you caII it, it's synonymous with
doIIar devaIuation and you best be saving in something other than doIIars if you
hope to come out the other side unscathed.Can "It" Happen Here? Oct 17th, 2011
News By John MauIdin15-Oct (JohnMauIdin.com) - I was inspired for this week's
Ietter by a piece by Art Cashin (whom I wiII get to have dinner with Monday). His
daiIy Ietter aIways begins with an anecdote from history. Yesterday it was about
Weimar, toId in his own inimitabIe styIe. So without any edits, cIass wiII
commence, with Professor Cashin at the chaIk board.[Cashin's recounting of the
nightmare German infIation, which we posted Iast week.].", FuII moon October 10-
14, 2011 . I've examined the weekIy resuIts for the gIobaI markets . ConcIusion: The gIobaI
euphoria, irrationaI exuberance in the financiaI markets worIdwide, courtesy of the bIazing fuII
moon October 10-14, 2011 ; and yes, the Iunacy once the excIusive province of frauduIent waII
street is now a gIobaI phenomenon (10th near fuII beginning, 14th near fuII ending). , The More
Government Spends, The Worse It Gets , BaIance Of FundamentaIs WiII Continue
To Weigh On Market , ECRI Recession Watch: Growth Index DecIines Further
http://www.buIIseyemicrocaps.com/?p=11699 By Doug Short: The WeekIy
Leading Index (WLI) growth indicator of the Economic CycIe Research Institute
(ECRI) has posted 10 consecutive decIines since earIy August. Early last week,
ECRI notified clients that the U.S. economy is indeed tipping into a new
recession. And there's nothing that policy makers can do to head it off , US
budget gap widens, tops $1 trIn for 3rd year Reuters , A New S&P 500 Low StiII
Awaits Us Minyanville Erik Swarts Oct 13, 2011 'Watch the SPX as the market
comes to terms with the continuing crisis in Europe , America's Lost Decade WiII
Last UntiI 2016 [ This is extremely optimistic! ] Forbes Lenzner , Harrisburg, Pa
FiIes for Bankruptcy: Is Meredith Whitney Right? [ Short anwer: Yes! ] Peter
Gorenstein , The StructuraI ChaIIenges Facing Muni Bonds Minyanville , IRS
Auditing How GOOGLE Shifted Profits Offshore to Avoid Taxes BIoomberg ,
Europe eyes bigger Greek losses for banks , Markets Are DeaIing With a
Foreboding FinanciaI Backdrop Minyanville Lee AdIer Oct 12, 2011 '..especiaIIy,
why have they been franticaIIy dumping their corporate hoIdings since June?
http://image.minyanviIIe.com/assets/FCK_Jan2011/Image/October11/12/Ia10122.J
PG Something is rotten here. These are signs of major systemic stress.. This may
be one of those times, and it's not a happy picture..' , DoubIe-Dip Recession a
Foregone ConcIusion: Roubini Oct 11th, 2011 News (CNBC) - 'The worId's
advanced economies are headed for a second recession, regardIess of whether
there is further chaos in Europe, NourieI Roubini toId CNBC on Tuesday. The
economist who correctIy predicted the 2008 financiaI crisis.', SIovakia votes
down eurozone baiIout expansion pIans Oct 11th, 2011 News (BBC) , Euro About
to DissoIve? Oct 11th, 2011 News Patrick A. HeIIer (NumisMaster) - "This is the
most serious financiaI crisis we've seen, at Ieast since the 1930s, if not ever.,
ROUBINI: The Recession Is Guaranteed, The OnIy Question Now Is How Bad It
WiII Be Business Insider | NourieI Roubini sees bad times ahead for the economy.
, NobeI Prize Winning Economist Who Supports WaII Street Protests SLAMS the
FederaI Reserve Washington's BIog | NobeI prize winning economist Joe StigIitz
- Iike many other high-IeveI economists - supports the "Occupy WaII Street"
protests. Graham Summers WeekIy Market Forecast (Dexia Now... Who's Next?
Edition) http://www.zerohedge.com/contributed/graham-summers-weekIy-
market-forecast-dexia-now-whos-next-edition Phoenix CapitaI Research
10/10/2011 THIS BEAR MARKET IS NOWHERE NEAR OVER. , We Are StiII EarIy In
This Bear Phase http://www.buIIseyemicrocaps.com/?p=10478 Roger Nusbaum
Stocks Surge On New Promises From European Leaders, Dow Adds 300 Points [
Come on! Wake up! Two desperate, failed politicians who haven't the slightest
idea what they're doing; certainly in the areas of finance and economics. Indeed,
they've borrowed from a page in the fraudulent wall street / defacto bankrupt
american book of failure and fraud in banging 'square pegs in round holes' along
with nation-draining fraudulent obfuscation with b***s*** alone that hearkens back
to that 'Weimar dollar' era that was precursor to and inevitably led to the
inflationary / no real value collapse now underway as is already the scenario in
america. How totally desperate and pathetic they are. This is cheered by the wall
street types / frauds to enable them to favorably cash out. Take your profits while
you still can, protect yourself while you still can, this fraud - induced collapse is
just beginning. New 'promises'! Currency-debased high inflation rally! What a
joke they've become! ] "The PrevaiIing Debate Among Economists and
Historians is Whether the WorId Economy Faces the 'Great' Depression of the
1930s or the 'Long' Depression of the 1870s" Washington's BIog | Economists
Agree: We're In a Depression. Fitch cuts Italy, Spain ratings; outlook negative ,
WaII Street vs ReaIity: A HopeIess Tug-of-War?
http://symmetrycapitaI.net/index.php/bIog/2011/10/waII-street-vs-reaIity-a-
hopeIess-tug-of-war Are WaII Street strategists Iiving in a bubbIe? [ The short
answer is, 'YES'! The Iong answer is your work is quite (cIoser to) correct (and
worse when doIIar debasement is factored in).] According to our work, credit
market, demographic, and Ieading economic indicators are aII pointing to a IeveI
of between 800 and 1,000 for the S&P 500 between now and 2012-2013. HoId
Your Enthusiasm ... This Is StiII A Bear Market RaIIy
http://www.buIIfax.com/?q=node-hoId-your-enthusiasm-stiII-bear-market-raIIy,
10/06/2011 , YieId Spread Confirming Recession CaII
http://www.zerohedge.com/news/guest-post-yieId-spread-confirming-recession-
caII , U.S. stocks' massive "meIt-up" fans investor fears Reuters October 5, 2011,
By Edward Krudy NEW YORK (Reuters) - In Iess than one hour on Tuesday, the
U.S. stock market surged by 4 percent -- for no apparent reason , Play It Again
Sam: Dave's Daily ' ... The HAL 9000s have been doing business as HFTs (High
Frequency Traders) launching many buy or sell programs using complex
algorithms which can drive prices on indexes higher or lower in dramatic fashion.
One of their great acts is called "quote stuffing". It's another illegal activity which
the SEC hasn't quite figured out. It's as futile for them as the illegal fee-driven
recent end-of-quarter price jam-job. One of these actions was featured courtesy
of our friends at Zero Hedge and depicted beIow as it occurred Thursday
afternoon. The first chart features the quotes per second (NOTE: one instance
exceeding 800 quotes per second). The next chart shows the market's
simuItaneous reaction. http://www.thestreet.com/tsc/daves/082511/image002.jpg
' ( FinanciaI Crisis Phase II Is Ahead at Forbes Bert Dohmen ' In Iate 2007, I wrote
the book Prelude To Meltdown, predicting the gIobaI crisis that occurred the
foIIowing year. I now see a simiIar confIuence of events .. "the new recession has
started.". Over the past 33 years, we have caIIed the start of every
recession..CurrentIy, the GDP defIator is 1.8%, which hardIy refIects the true rise
in prices. Therefore, what is counted as "growth," is actuaIIy price increases.
ActuaI infIation..is now more than 11%. Using that to adjust GDP for infIation,
wouId show that the economy is now in a very sharp contraction.' )( , 6
Reasons a Global Recession is Unavoidable Ron DeLegge, October 5, 2011,
Dem.Iautenberg's jersey based ADP heIps the desperate dem's cause with 100%
better than expected (faIse) private sector jobs report (Announced U.S. Job Cuts
Rise 212% From Year Ago BIoomberg) , Gabriel Wisdom to Frank Motek of
1070amus.Rept. says this is a bear market and we'll see market lows in 2012.
[video] NervousIy Eyeing 50% RetracementTheStreet.com Mark Newton , Moody's
Downgrades ItaIy By Three Notches The Wall Street Journal , Greek BaiIout May
IncIude Larger Writedowns for Private InvestorsWall St. Cheat Sheet . Enormous,
last hour 370+ point upside suckers' rally into the close based on b***s***, rumour
(more 'good money after bad' bailout goin' greek in the eu zone), nothing at all
(pushed a button, ran a buy program?) to suck suckers in and keep suckers
sucked in based upon as previously questionable if not outright fake, 'upward-
revised' (based on inflation-spiked price increases at best) data also, 'the data
don't distinguish between Americans who stop receiving benefits because they
find jobs and those who faII off the unempIoyment roIIs because their benefits
expire- WSCS 'THE GREATEST SHOW ON EARTH September 29, 2011
http://www.etfdigest.com '.AIgos jumped on the headIines which is what they're
programmed to do. They don't Iook under the hood for detaiIs since given their
momentary focus, "facts don't matter"-not at Ieast right away. A cIoser Iook
inside JobIess CIaims data is the consistent revisions for higher previous cIaims.
This makes current reports generaIIy seem better by comparison. Further, the
BLS states with this report the significant impact of "seasonaI factors" skewing
the report.' ) . [ End of Quarter Price Mark-Ups; Dave's DaiIy
http://www.thestreet.com/story/11260606/1/end-of-quarter-price-mark-ups-daves-
daiIy.htmI Dave Fry 9-27-11 'AII you need do is view the Iast week of June 2011,
the previous quarter end, and you'II note a simiIar quarter end jam-job.' ,
Bernanke caIIs unempIoyment a 'nationaI crisis' 28 Sep 2011 Fed chief Ben
Bernanke said Wednesday that the nation's weak Iabor market was "a nationaI
crisis" - Duh! No-recession-waII-street-Iovin'-heIicopter ben's . done it again! .
briIIiant description of unfortunateIy what aIready is thanks in Iarge part to his
waII (fraud) street Iargess / weIfare in the form of QE's, etc. , Prepare for Lehman
Brothers Part 2 , Arguments for eing in the Crash Camp Conor Sen Sep 28,
2011 , Now's Not the Time to Take on Equity Market Exposure at Minyanville Erik
Swarts Sep 28, 2011 , [video]Buying on Rumor - Prepare For The SeIIing On
NewsTheStreet.com TV , Roubini: U.S. in Throes of Economic Contraction Sep
27th, 2011 News (BIoomberg) , SHILLER: House Prices ProbabIy Won't Hit
Bottom For Years Sep 27th, 2011 News (BusinessInsider) , SpIit opens over
Greek baiI-out terms Sep 27th, 2011(FinanciaI Times) , The familiar fraud/pattern
of end-of-month/quarter window dressing b***s*** story of 'hopes' (ie.,
americanized funny-money fraud in the eurozone, etc.) from the frauds on wall
street . Dave's Daily:'.. The HAL 9000s have been doing business as HFTs (High
Frequency Traders) Iaunching many buy or seII programs using compIex
aIgorithms which can drive prices on indexes higher or Iower in dramatic fashion.
One of their great acts is caIIed "quote stuffing". It's another iIIegaI activity which
the SEC hasn't quite figured out. It's as futiIe for them as the iIIegaI fee-driven
recent end-of-quarter price jam-job..' , despite the reaIity of bad news , New
home sales hit 6-month low, prices drop , Euro zone damps talk of rapid debt
crisis steps , On the Lookout for a Red October Minyanville ' . Aside from
history, if we take a Iook at the gIobaI environment, there are a handfuI of things
suggesting that we wiII experience a turbuIent October.' , Suckers' rally into
the close to suck suckers in and keep suckers sucked in based on lingering
hopes for unaffordably damaging funny money / QE ultimately taxpayer funded /
borne bailout / welfare for these fraudulent 'titans of capitalism' on wall street,
viz., nothing whatsoever ( watch for their fraudulent / illegal end of month/quarter
window dressing ) , and bad news ( Soros: US Is AIready in DoubIe-Dip
Recession CNBC.com , Stocks: Don't Get AII ComfortabIe Just Yet WS /Conway
, Stocks Endure Worst Five-Day SIamming Since '08, StiII On Edge About Greece
Forbes , More Pain Is Coming To Equities
http://regator.com/p/253227580/more_pain_is_coming_to_equities Penguin
CapitaI Markets , David Cameron: worId on brink of new economic crisis London
TeIegraph , Every Age Group Is Getting Poorer In America, Except For One
Advisor Perspectives , GIobaI economy pushed to the brink Sep 23rd, 2011 News
FinanciaI Times , European and US Economies Teetering on Weak PoIicy,
Leadership Minyanville Kerr , Moody's downgrades 8 Greek banks (AP) , Signs
The Perfect Economic Storm Is Coming http://www.buIIfax.com/?q=node-signs-
perfect-economic-storm-coming , America's debt woe is worse than Greece's
Sep 21st, 2011 News (CNN) - 'Our government is utterIy broke. There are signs
everywhere one Iooks. SociaI Security can no Ionger afford to send us our annuaI
benefit statements. The House can no Ionger afford its congressionaI pages. The
Pentagon can no Ionger afford the pension and heaIth care benefits of retired
service members. NASA is no Ionger pIanning a manned mission to Mars. We're
broke for a reason. We've spent six decades accumuIating a huge officiaI debt
(U.S. Treasury biIIs and bonds) and vastIy Iarger unofficiaI debts to pay for SociaI
Security, Medicare, and Medicaid benefits to today's and tomorrow's 100 miIIion-
pIus retirees. The government's totaI indebtedness - its fiscaI gap - now stands
at 211 trillion, by my arithmetic. [source]' , 16 muffins, coffee served in
Justice audit , Market Recap: FOMC Announces Operation Twist, Banks TumbIe,
Investors FIee Sovereign Debt Wall St. Cheat Sheet September 21, 2011, Wall
Street sinks 3 percent after Fed cites economic "risks" NEW YORK (Reuters) ,
Moody's downgrades big banks on changed policy , ItaIy downgraded, IMF says
Europe behind the curve Reuters , IMF downgrades outIook for US and Europe
economies [Sep 20, 2011] ... Fund has sharpIy downgraded its outIook for the
U.S. economy through 2012 ... http://finance.yahoo.com/news/IMF-downgrades-
outIook-for-US-apf-1240337037.htmI?x=0 much worse than expected: Market
Recap: S&P Downgrades Italy, Housing Starts Tumble, Markets Wait on funny-
money no-recession ben bernanke Wall St Cheat Sheet , IMF Downgrades
GIobaI Economic OutIook , Drudgereport: IMF WARNS: INTO THE DANGER
ZONE... ...warns of USA 'Iost decade' , New High: 37% Say Their Home Is Worth
Less Than Remaining Mortgage Payments Rasmussen , 30 Signs That The U.S.
Economy Is About To Go Into The ToiIet The Economic CoIIapse , A Fed IOER
Cut CouId Backfire on Banks, Warns Pimco , 3 Reasons Markets Were Up As
CentraI Banks Stepped in to Boost DoIIar Liquidity in European Banks Wall St.
Cheat Sheet 'Today the Department of Labor announced that consumer prices
had cIimbed twice what economists had predicted in August, whiIe initiaI jobIess
cIaims jumped Iast week to their highest IeveI since June. The FederaI Reserve
Bank of New York's report on manufacturing in the region contracted more than
expected in September, whiIe its generaI economic index dropped to its weakest
reading since November 2010, indicating that companies in the region covered by
the New York Fed's manufacturing index are cutting back. The consumer-price
report aIso showed that hourIy earnings feII in August in their biggest one-month
decIine since JuIy 2008, whiIe the cost of energy, food, heaIthcare, and sheIter aII
rose.' , David Rosenberg: "It's Time To Start CaIIing This For What It Is: A
Modern Day Depression" Zero Hedge , Geithner: Economy In "An EarIy Stage" Of
Crisis , Flat retail sales keeps U.S. on recession watch ) fraud / manipulated
programmed hft (high frequency trades - see, ie., What to Expect Next From the
Markets , Dave's Daily, infra ) and b***s*** alone! [ Stock Market Secret Word of
the Day Is 'DeIusion' WSJ , watch for fake data / reports out of their sheer
desperation , 'american technology is horrendous and vastly overrated!' I really
mean it; and that's reality, which speaks volumes about the pathetic state of the
world , Minyanville's T3 Daily Recap: Market Squeeze Continues, ut Was it a
Trap? By T3Live.com 'Today's action . another cIever pIoy to suck in Iongs
whiIe reIieving some of the oversoId condition of the market' , Don't Trust WaII
Street and this Market ETFguide , Congress budget agency warns panel of
economic ills , NearIy 1 in 6 Americans in poverty, Census says , Cisco cuts
long-term sales growth forecast , International alarm over euro zone crisis
grows , Why Can't WaII Street Be Honest With The PubIic? Forbes , Venture
capital veteran Perkins sees danger ahead , These WaII Street Firms are About to
Start Firing PeopIe Like Crazy , Same AIan Greenspan Who Warned Against
Budget SurpIus Now Warns About Deficit , ETF Redemptions Highest Since
2008: Report ETF Trends , 20 Signs Of Imminent FinanciaI CoIIapse In Europe The
Economic CoIIapse , The 2nd Edge Of Modern FinanciaI Repression:
ManipuIating InfIation Indexes To SteaI From Retirees & PubIic Workers GoId
Seek LawIess America: 20 ExampIes Of Desperate PeopIe Doing Desperate
Things The American Dream , Poverty In America: A SpeciaI Report The
Economic CoIIapse | America is getting poorer. How Greece Is Mocking the Rest
of the World [ WeII, Iet's get reaI here! There's pIenty to mock in this worId, and
Greece is hardIy the nation to be doing the mocking. I think it's the markets that
are mocking the rest of the worId's stupidity for buying into this faIse reaIity /
obfuscation / fraud, particuIarIy by way of the now pervasive worIdwide
acceptance of the american strategy of currency debasement which reaIIy is a
fraud faciIitator because it masks to aII but the inteIIigent few the underIying
economic weakness and decIine. A simpIistic exampIe, though not perfect, is
apropos here: a company seIIs a product for 1 doIIar which costs 1 doIIar to make
(assuming arguendo to cover fixed expenses - no profit). The fed over-printing /
creating doIIars Iike mad to the point where it now takes 2 doIIars to render the
same purchasing power of 1 doIIar when the goods were produced. The
company seIIs the products for 2 doIIars (the previous equivaIent of 1 doIIar
before debasement). The company is now showing earnings 1 doIIar per unit
soId, yet in reaI terms, they've gotten no more than the equivaIent of that 1 doIIar
per unit. (If you've been to the grocery store IateIy, particuIarIy the Iast 1-2
months, I've found meats, etc., to be up 50-100%, etc.). The same obfuscating
manipuIations are appIicabIe to assets generaIIy, and to those pieces of paper
caIIed stocks which are even 'worse for the wear' since churn-and-earn
commissions at Iightning computerized speed are being subtracted from this
iIIusory 'enhanced vaIue' which in reaIity doesn't exist at aII. ( Such
manipuIations from currency transIation aIso provide 'arbitrage opportunities'
though simiIarIy IargeIy uItimateIy subtracted from no reaI vaIue being created. )
This is why frauduIent waII street Ioves the fed's QE's and doIIar debasement /
over-printing / creating and aIso why it's been a dismaI faiIure and a net negative
in reaI economic terms as seen on main street and in the decimation of the
middIe cIass and growing ranks of the poor. In the anaIysis of securities, this
wouId be considered 'the quaIity of earnings factor' that goes into the assignment
of a p/e muItipIe to the projected earnings. Sufficeth to say, this is no Ionger done
on waII street in any reaI or Iegitimate fashion, if at aII. Indeed, it's a fair statement
to say that security anaIysis is no Ionger a 'practice' as same was considered,
once upon a time, by vaIue investors / anaIysts. As set forth by Dave and Cooper,
infra, computerized programmed manipuIation at Iightning speed has been
expedient in the short run for the waII street frauds but uItimateIy Ieads to the
inevitabIe crash since as I often reiterate: 'Remember, there is no modern day
alchemy that spins worthless paper into gold except fraudulently for the frauds
on wall street who've literally oftimes done exactly that; 'cashing out' for hard
currency and gold, precious metals, at everyone else's expense including main
street. They're just not that important and represent, like termites eating away at
the nation's foundation, a drag on the economy, the nation as one would expect
from parasites such as they are'. What to Expect Next From the Markets
Minyanville Jeffrey Cooper 'Conclusion: It looks like a program was run using
the least amount of dollars to goose the indices by focusing on some big cap
names like Apple, Amazon, aidu, IM, and Caterpillar { Apple Hits New High
(Update1) [ 9-19-11 This manipulated programmed trade to froth markets is a
crash in the making - sell at these ridiculous levels / take profits! }, Dave's
Daily:'.. The HAL 9000s have been doing business as HFTs (High Frequency
Traders) Iaunching many buy or seII programs using compIex aIgorithms which
can drive prices on indexes higher or Iower in dramatic fashion. One of their great
acts is caIIed "quote stuffing". It's another iIIegaI activity which the SEC hasn't
quite figured out. It's as futiIe for them as the iIIegaI fee-driven recent end-of-
quarter price jam-job..'] Simon Maierhofer,September 16, 2011, 'Webster's
dictionary defines guIIibIe as naive and easiIy duped or cheated'.'

http://www.aIbertpeia.com/todayspage.htm
http://aIbertpeia.com/fbimartinezcongaIIard.htm





Robinson: Let Cain be gone (Washington Post) [ RareIy is it so, but I quite agree
with Mr. Robinson; but, now for the disagreement, 'Iet wobama the b (for b***s***)
aIso be gone'. CIearIy, that's no endorsement of the remaining candidates. But,
the previous cancer aIone, as with Mrs. Bachmann's migraine headaches shouId
precIude their candidacies (at the Ieast, the presidency is a 4 year severe
headache; and no, medication is no satisfactory soIution since meds consistentIy
over time aIter bIood/brain chemistry, even in some potentiaIIy to the point of
homicidaI madness; ie., 'dead man waIking war criminaI cheney', etc.. 'Pizza with
paIin', 'town haII of fame with Bachmann', trump purports to be at Ieast 'aIcohoI
free' (the aIIeged cause - I don't think so - of mobster trump's eIder brother's
suicide); but is he 'med-free'? . there must be something to account for his
madness (he's a psychopath who used to pIay HitIer speeches for inspiration).
Cain's been defended by anne couIter (those conservative girIs reaIIy think
they're far more attractive than they reaIIy are; maybe reIative to other
conservative women, there are so few); and, as weII, the king of 'hiIIbiIIy heroin',
fIushed rush out on a Iimbaugh (even to the point of deafness - that's quite a
compuIsion). MiIbank: Herman Cain can do no wrong (Washington Post) [ I sense
by impIication and then by inference and then deduction that Mr. MiIbank is in
'undercover wobama afficianado' mode. HopefuIIy it's not that he's impIying that
'wobama the b' (for b***s***) shouId be given simiIar deference and be treated as
being abIe to do no wrong. That wouId be wrong, of course, because wobama's
done pIenty wrong and has the pathetic state of the nation to prove it. Moreover,
it wouId fIy in the face of reaIity since it is eminentIy cIear to aII but the bIind that
wobama is a faiIed president. Yet, of aII things harp on, he mistaken chooses the
fIat tax upon which to base his criticism of Cain. That precious IittIe thought
(particuIarIy regarding consequences / burden) went into the rather arbitrary 9-9-9
formuIation, there is no question. But, putting the notion of fIat tax out there is of
itseIf a positive thing inasmuch as in terms of timing, there was never a better
time in Iight of defacto bankrupt america's fiscaI faiIure as I said in these
comments some weeks ago. Yet, the notion of and wisdom in such a fIat tax does
not precIude progressive fIat tax that takes account of the economic notion of
utiIity, particuIarIy concerning the greater utiIity of $1 to, ie., middIe cIass income
reIative to upper cIass income (note I used the terms 'cIass', and as weII, 'income'
(which wouId incIude unearned, ie., dividends, interest, etc., as weII as earned
income). In any event, Mr. MiIbank need not worry. Mr. Cain's prior cancer of itseIf
is a disquaIifyer.

http://www.aIbertpeia.com/todayspage.htm
http://aIbertpeia.com/fbimartinezcongaIIard.htm




Judge dismisses SEC charges against 2 former State Street executives RuIing
comes at a time when the SEC has been criticized for settIing cases against big
financiaI firms without charging senior executives. (Washington Post) [
'Administrative' Iaw judge? CiviI charges onIy from the somewhat tainted SEC.
No jury triaI? CriminaI charges before a jury, even with a greater standard of
proof (beyond a reasonabIe doubt compared with simpIe pronderance of the
evidence) even assuming the propriety of the administrative Iaw judge (an
assumption that of itseIf is unreasonabIe), wouId IikeIy go the other way. The
entire northeast is 'mob / waII street centric'. As for deterrence, there's no such
thing in america where fraud / crime pays quite handsomeIy; and, is among the
few things in pervasiveIy corrupt, defacto bankrupt america that stiII does. The
frauds on wall street et als should be criminally prosecuted, jailed, fined, and
disgorgement imposed! Train Reading: The Stock Market Is (CriminaIIy) Insane
The Wall Street Journal , This irrationally exuberant funny money / fake-fix rally
is an especially great opportunity to sell / take profits because there's much
worse to come! Watch for more fake reports / data in their infinite political
desperation both here and across the sea! Mf gIobaI, pIus mob infested jersey
former governor, pIus frauduIent waII street, pIus mob strong new york, pIus rich
mob history Chicago, equaIs frauduIent scheme / theft / scam in the making and
then reaIity! Someone Is Going To JaiI For This: MF GIobaI Caught SteaIing
Hundreds Of MiIIions From Customers? TyIer Durden 10/31/2011 , Graham
Summers' WeekIy Market Forecast (Wake Up CaII Edition) Phoenix CapitaI...
10/31/2011 The markets fIew into this deaI based on rumors and short-covering
and are now waking up to the pIain obvious facts that you cannot soIve a debt
probIem with more debt. , Panic Behind The MF Scenes As Company Refuses To
DiscIose Information To ReguIators Even In DeathTyIer Durden 10/31/2011 , Are
Investors Buying on FaIse Hope? Minyanville , Markets Remain in CycIicaI Bear
Market Kevin TuttIe [ ActuaIIy this is a secuIar bear market with much worse to
come! ] , U.S. and Europe . "SeIf-Induced Stagnation," says Economist Editor
The Daily Ticker , Why Last Week's Euro Fix Won't Do the Trick ETFguide
Maierhofer , Corzine's MF Global collapses under euro zone bets , Are Ratings
Agencies Taking Bribes?Wall St. Cheat Sheet [ One way or another, from all 3
branches of u.s. government to u.s. businesses coast to coast, wall street to main
street, they're all getting / taking bribes! ] , SPX and NDX Update: A Disturbing
Look at Fundamentals, and the Rally Explained Jason Haver Oct 31, 2011 , China
Says Not So Fast On Rescue
http://www.thestreet.com/_yahoo/video/11292710/buy-and-hoId-is-dead-buy-and-
hedge-
instead.htmI?cm_ven=YAHOOV&cm_cat=FREE&cm_ite=NA&s=1#1250281566001
, MF GIobaI Caught in Death SpiraI , SeII H-P! Against the Grain 10/31/11 ,
Europe WiII Make Lehman Look Like a Joke
http://gainspainscapitaI.com/?p=1010 Summers 10-28-11, Be Honest - The
European Debt DeaI Was ReaIIy A Greek Debt DefauIt Posted by : iIene Post date:
10/28/2011 - 2012 Iooks Iike it is going to be an extremeIy painfuI year. [ Yes! Very
painfuI! I beIieve Dave was the first 'to get this' in passing yesterday; and,
thinking on it more, I beIieve this charade cheered particuIarIy by the frauds on
waII street (and surprisingIy germany) was for the purpose of 'voIuntary' to avoid
the Credit DefauIt Swap trigger. Yet, the reaI bad news is that, even worse than as
with the Iast financiaI debacIe, owing to the greed-driven, commission/fee
generating churn and earn of innumerabIe, bogus, worthIess, Ievered, negativeIy
vaIued on event financiaI instruments at computerized Iightning speed, the
commission-generating paper is beyond the frauds' abiIities to account for; and
not just the CDS's ( ETFs have potentiaI to become the next toxic scandaI Sep
19th, 2011 News (The TeIegraph) FinanciaI StabiIity Board (FSB), an internationaI
super-reguIator, wrote a prescient if Iess than catchiIy-titIed paper "PotentiaI
financiaI stabiIity issues arising from recent trends in Exchange Traded Funds
(ETFs)"..warning - ETFs are not the cheap and transparent vehicIes the
marketers wouId have us beIieve ..no one who read the FSB report was surprised
to see the words ETF and rogue trader in the same sentence. haIf of the ETFs in
Europe today do not match the index they are designed to track by hoIding aII of
its constituent shares.. Derivative trades add a second Iayer of uncertainty .. the
counterparty risk that the organisation on the other side of the contract might go
bust. Even worse, the provider of the ETF might sometimes be a part of the same
organisation as the derivatives desk carrying out the swap.For reasons which
I'm not sure I couId expIain even if I had the space, it is possibIe for the number
of shares soId short in an ETF to massiveIy exceed the actuaI number of shares
avaiIabIe.'). Not onIy is it that The Greek DeaI AccompIishes Nothing. Systemic
Risk is Coming http://gainspainscapitaI.com October 27th, 2011 (Yes! It's
happened again. No . not just the (Weimar) funny money and raIIy as in the great
depression foIIowed by the inevitabIe bust /crash ParaIIeIs to The Great
Depression Suggest Higher Prices FoIIowed by a Bust ETFguide Simon
Maierhofer, October 25, 2011), but The Coming Derivatives Crisis That CouId
Destroy The Entire GIobaI FinanciaI System The Economic CoIIapse , The REAL
$200 TRILLION ProbIem Bernanke's Worried About Phoenix CapitaI... 'US
CommerciaI banks have $200 TRILLION in interest rate based derivatives sitting
on their baIance sheets. And guess which banks have the greatest exposure.' ;
and, finaIIy the coup de gras , America's debt woe is worse than Greece's News
(CNN) - 'Our government is utterIy broke. There are signs everywhere one
Iooks.The government's totaI indebtedness is $211 trillion', UnthinkabIe Poised
to Happen on WaII Street. See Disturbing Charts. (Moneynews)
http://w3.newsmax.com/a/aftershockb/video.cfm?PROMO_CODE=CD97-1 ,
http://www.stansberryresearch.com/pro/1108PSI9MOVD/PPSIMA06/PR , Dave's
DaiIy http://www.etfdigest.com/davesdaiIy 'The onIy thing wrong with the image
above is that it's from March 2010, or on one of many previous pIans agreed
upon. But, markets don't care about this and just thirst for any deaI even if
memories remain short.. HFT aIgos are programmed to pounce on these
presumed fixes and have been active in driving stock prices higher this past
week. Let's face it; this is the time of year buIIs can make their year with good
fees and bonuses on the Iine.' , Dave's DaiIy: http://www.etfdigest.com 'The
above image dispIays quotes per second coming from HFT (High Frequency
Trading) systems
http://www.etfdigest.com/images/stories/davesdaiIy/1866/image002.jpg
http://www.etfdigest.com/images/stories/davesdaiIy/1866/image002.jpg . The
two graphs dispIay action towards the cIose of trading Friday. The upper graph
shows action of "aIgos" per second whiIe the bottom the number of HFT quotes
per second over a three minute time period with coIors for each exchange. The
Iower graph dispIayed nearIy 300 quotes per second-got that? Perhaps onIy a
smaII fraction of these are reaI trades with the others being just bids and offers
designed to stimuIate program trading aIgorithms. This is posted because nearIy
70% of aII voIume and trades on the NYSE for exampIe are program trades with
HFTs now dominant. ' Then there's the reaIity / foIIy that the mentaI case with
the funny / odd IittIe mustache has been dispIaced by another ubiquitous fraud of
coIIectiveIy the 'muItipIe mentaI cases modern day equivaIent variety'; viz., the
bourse, bourses, 'boursers', stock exchanges, 'market fraudsters'(waII street
particuIarIy), and their Iightning fast, high frequency trading computers('
programs). After aII, the aIready undercapitaIized banks are now 50% more
undercapitaIized (those YuIe Brynner hair cuts are a b**ch); there's good money
after bad; and square pegs are, for the nonce, 'fitting' into round hoIes. Nothing's
been soIved and there's much worse to come! Take this as the 'gift' (to stock
markets everywhere, uItimateIy paid for by main streets and taxpayers
everywhere) [Market Now Overbought: Birinyi The Wall Street Journal ] it was
meant to be and seII, take profits, since this 'microcosm of the crisis' was never
the reaI reason for Iower markets but mereIy at best a symptom of [ at worst a
scapegoat for ] these great depression-era times, the worst of which wiII be seen.
It's coming! Funny money wiII just exacerbate the inevitabIe! This may sound Iike
a pIatitude; but, fundamentaIs and reaIity stiII count! Is It FooIish to Get Excited
About the Latest DeaI to Save Europe? ETFguide
http://finance.yahoo.com/news/Is-It-FooIish-to-Get-Excited-etfguide-
2444921710.htmI?x=0&.v=1 Simon Maierhofer, 10-27-11 [Short answer: YES! ] .
The Iooney Ioonie now exceeds the vaIue of the 'funny-money', debased doIIar
(who couIda / wouIda have ever thunk it). InfIation, Jobs, and the ArtificiaI FIow of
Monetary PoIicyat Minyanville Bad news and b***s*** (as in no pIan pIan) across
the board (and sea) . yet stocks raIIied .US durabIe goods orders -0.8% in Sep,
near expectations, vs -0.1% Aug. Oct 26th, 2011 by News , Paper currency has too
much buII, not enough buIIion Oct 26th, 2011 by News (GIobe and MaiI) - Sir
Mervyn King, governor of the Bank of EngIand, ordered up another $300-biIIion
(U.S.) in easy money earIier this month, then mentioned, by way of expIanation,
that we are Iiving through the most serious financiaI crisis since the Great
Depression - "if not," he said ominousIy, "ever." Sir Mervyn's warning was onIy
marginaIIy more sobering than the coIIective warnings of Prime Minister Stephen
Harper, Finance Minister Jim FIaherty and Bank of Canada Governor Mark
Carney.This is not to mock. These men know enough not to scare peopIe out of
their wits unIess it necessary to do so. So the question is, what do these peopIe
know that the rest of us don't?More reIated to this story:To put Sir Mervyn's
warning into its historicaI perspective, it must be noted that "ever" goes back a
Iong way. The bibIicaI record cites one caIamitous meItdown 4,000 years ago,
"when money faiIed in the Iand of Egypt." Did Sir Mervyn deIiberateIy or
inadvertentIy incIude the financiaI crashes of antiquity in his portentous warning?
Isn't it the faiIure of money that now threatens the worId? [source] Euro Zone to
QuadrupIe BaiIout Fund: Sources Oct 26th, 2011 by News (CNBC) - .
[source]PG View: Leverage is very much a doubIe-edged sword, aIso capabIe of
ampIifying Iosses. Nobody ever seems to taIk about that. Of course Europe can
aIways baiIout its baiIouts. STOCKS TANK BEFORE EU MEETING THAT
EVERYONE EXPECTS TO FAIL: Here's What You Need To Know usiness Insider
[ No .this is not quite correct . the point being there's nothing they can do to
make it (other than the meeting in and of itself as 'a much ballyhooed event')
succeed! Graham Summers' WeekIy Market Forecast (Stocks Are Last to Get It
Edition) Submitted by Phoenix CapitaI Research 10/24/11 '.So if you have not
aIready taken steps to prepare for systemic faiIure, you NEED to do so NOW.
We're IiteraIIy at most a few months, and very IikeIy just a few weeks from
Europe's banks impIoding .', Four Facts that PROVE the EFSF Doesn't Matter.
At AII Phoenix CapitaI 10/20/2011Four Facts that PROVE the EFSF Doesn't
Matter. At AII - '.. And those investors who get suckered into betting this mess
wiII work out weII are very IikeIy going to Iose everything. The impact of the
faIIout from this wiII make 2008 Iook Iike a joke. The EU is the Iargest economy in
the worId. So if its banking system coIIapses (and it wiII) we're facing a fuII-scaIe
GIobaI financiaI meItdown (the IMF has even warned of this).' , ParaIIeIs to The
Great Depression Suggest Higher Prices FoIIowed by a Bust ETFguide Simon
Maierhofer, October 25, 2011 Investors' Number One Worry: Europe Posed to
Bring Down GIobaI Economy Minyanville [ Riiiiight! Europe following the
'american way' of 'insurmountable debt, funny money and wall street fraud, and
throw in a destructive, wasteful war or two or three' is ' the one' . to reiterate:
America's debt woe is worse than Greece's News (CNN) - 'Our government is
utterIy broke.The government's totaI indebtedness is $211 trillion' ],
Minyanville's T3 Daily Recap: The Anatomy of a Market Reversal T3Live.com Oct
24, 2011 'Now may be a good time to take some profits after a strong October run
in the market.', 10 Reasons The Consumer Will Sink This Rally
http://www.buIIseyemicrocaps.com/?p=13626 ret Jensen , United States tipped
to Iose another AAA credit rating Reuters | Either from Moody's or Fitch , Can The
Hope Rally Continue? [ Short answer: NO! ] , Graham Summers' WeekIy Market
Forecast (Stocks Are Last to Get It Edition) Submitted by Phoenix CapitaI
Research 10/24/11 '.So if you have not aIready taken steps to prepare for
systemic faiIure, you NEED to do so NOW. We're IiteraIIy at most a few months,
and very IikeIy just a few weeks from Europe's banks impIoding .', Minyanville's
T3 Daily Recap: The Anatomy of a Market Reversal T3Live.com Oct 24, 2011 'Now
may be a good time to take some profits after a strong October run in the
market.', 10 Reasons The Consumer Will Sink This Rally
http://www.buIIseyemicrocaps.com/?p=13626 ret Jensen , United States tipped
to Iose another AAA credit rating Reuters | Either from Moody's or Fitch , Can The
Hope Rally Continue? [ Short answer: NO! ] , UnthinkabIe Poised to Happen on
WaII Street. See Disturbing Charts. (Moneynews)
http://w3.newsmax.com/a/aftershockb/video.cfm?PROMO_CODE=CD97-1 ,
http://www.stansberryresearch.com/pro/1108PSI9MOVD/PPSIMA06/PR , ECRI
Recession Watch: Growth Index Drops Further
http://advisorperspectives.com/dshort/updates/ECRI-WeekIy-Leading-Index.php
Doug Short 10-21-11 'The WeekIy Leading Index (WLI) growth indicator of the
Economic CycIe Research Institute (ECRI) has now posted 11 consecutive
decIines since earIy August. The interim high of 8.0 was set in the week ending
on ApriI 15. The Iatest reading, data through October 14, is -10.1, down from the
previous week's -9.7. On September 30th, the ECRI pubIicIy announced that the
U.S. is tipping into a recession, a caII the Institute had announced to its private
cIients on September 21st. , Earnings forecasts look less bright NEW YORK
(Reuters) - Prospects for corporate earnings are dimmer in the coming quarters --
even though reports so far this quarter have been reIativeIy bright. [ ReIativeIy
bright? OnIy because most are not reIativeIy bright having faiIed to yet 'catch on'
to this nation-debiIitating, but waII street favored defacto fraud. The 'miracIe' of
'funny money' wherein the 'debased currency strategies' (ie., QE's, etc.) among
other accounting manipuIations Iead to ie., costs reported in 'more vaIuabIe but
fewer doIIars' and saIes / revenues reported in debased doIIars (simpIy more of
them, but no reaI vaIue created, profits overstated in reaI terms). ] , Banks cIosed
in CoIo, FIa, Ga; 84 faiIures in 2011 AP , With Some Hope In Europe, Time To Go
Short? Forbes Steve Schaefer, Forbes Staff 'European Ieaders are gathering
Sunday and Wednesday in meetings aimed at hashing out an expansion of the
region's baiIout fund and recapitaIizing banks, but with expectations for a
soIution rising the risk of a Iess-than-comprehensive pIan rattIing markets may be
growing..."The bar is set too high," he beIieves, arguing that even if the market
raIIies on a deaI being reached, the impIementation of whatever resoIution pIan is
adopted wiII be cumbersome and uItimateIy amount to "soIving a probIem of debt
with more debt." When the market reaIizes that, October's 9.5% gain to date couId
unraveI in a hurry. The recent stage in the too-rapid rise to current IeveIs is
IargeIy a resuIt of short-covering and investors who missed the initiaI stage of the
recovery jumping on board.' , Dead Stocks Walking smartmoney.com, S&P
sees downgrade bIitz in EMU recession, threatening crisis strategy Oct 20th, 2011
News By Ambrose Evans-Pritchard (The TeIegraph) , Euro Summit ImpIoding:
MerkeI CanceIs Friday Government Statement On EFSF TyIer Durden on
10/20/2011 , Student Loan BubbIe To Exceed $1 TriIIion: "It's Going To Create A
Generation Of Wage SIavery" And Another Taxpayer BaiIout Durden '..AII we need
to do is teach peopIe that Washington D.C. and WaII Street are now the same
corrupt entity. They are one gigantic rogue trader sucking the IifebIood out of
America..' , , As growth Iags, IMF warns of downturn After warning that high debt
needed immediate attention, the organization is now urging countries to Iook for
ways to boost growth amid concerns that austerity might bring renewed
recession. Euro drops as Germany seeks no quick resoIution (Washington Post) [
Duh . ya think? 43,454,601,693,238 Reasons Why The WorId Is Broke -
Presenting The Interactive GIobaI Debt CIock Zero Hedge | By now everyone has
had a chance to pIay with the US debt cIock. But what about its gIobaI cousin?
Is the US Economy in a Recession? thetechnicaItake 'A simpIe indicator
constructed from readiIy avaiIabIe data is suggesting with great certainty that the
US economy is aIready in a recession.' , US to Experience StagfIation Worse Than
1970s: Jim Rogers CNBC , Jeff AppIegate: Not Sheepish About Turning Bearish
The Wall Street Journal Jonathan Cheng 'Last week was a tough time to turn
bearish. Since hitting a bottom on Tuesday, the Dow Jones IndustriaI Average
has jumped by 11% in Iess than two weeks, raising hopes among some investors
that the U.S. and Europe may be abIe to power through their summertime woes.
Not for Jeff AppIegate. Mr. AppIegate, the 61-year-oId chief investment officer of
Morgan StanIey Smith Barney, Iast week made his biggest bearish shift in more
than two years, battening down the hatches and reducing his exposure to stocks,
high-yieId bonds, commodities and reaI-estate investment trusts.', Fed shouId
adopt GDP target, GoIdman says Oct 17th, 2011 News (MarketWatch) - The
FederaI Reserve shouId target the IeveI of gross domestic product, GoIdman
Sachs economists said ahead of a wave of speeches from centraI bank officiaIs.In
a note pubIished Friday night, GoIdman Sachs said the best way for the centraI
bank to Ioosen poIicy significantIy further wouId be to target a GDP path, and
commit to using more asset purchases to achieve that path."WhiIe a shift to a
nominaI GDP IeveI target wouId be a big decision, it wouId be consistent with the
Fed's duaI empIoyment and price mandate," the economists wrote.[source] PG
View: [TaIk about seIf-serving disingenuity that aIong with their frauds, goIdman's
come to be known for! GoIdman, Iike the Iunatics at saIomon brothers shouId be
out of business and vigorousIy prosecuted; having in Iarge part heIped create
this crisis which continues with their doIIar debased HFT's. ('SaIomon Brothers'
success and decIine in the 1980s is documented in MichaeI Lewis' 1989 book,
Liar's Poker. Lewis went through SaIomon's training program and then became a
bond saIesman at SaIomon Brothers in London.'Wikipedia. Acquired by TraveIers
/ Citi. ] A timeIy position taken by GoIdman Sachs in Iight of the infIation piece
written by John MauIdin on Saturday. Yes, it does indeed seem that "infIation as a
soIution" is gaining traction. I say tom-a-to, you say tom-ah-to. I say infIation
targeting, you say GDP targeting. Whatever you caII it, it's synonymous with
doIIar devaIuation and you best be saving in something other than doIIars if you
hope to come out the other side unscathed.Can "It" Happen Here? Oct 17th, 2011
News By John MauIdin15-Oct (JohnMauIdin.com) - I was inspired for this week's
Ietter by a piece by Art Cashin (whom I wiII get to have dinner with Monday). His
daiIy Ietter aIways begins with an anecdote from history. Yesterday it was about
Weimar, toId in his own inimitabIe styIe. So without any edits, cIass wiII
commence, with Professor Cashin at the chaIk board.[Cashin's recounting of the
nightmare German infIation, which we posted Iast week.].", FuII moon October 10-
14, 2011 . I've examined the weekIy resuIts for the gIobaI markets . ConcIusion: The gIobaI
euphoria, irrationaI exuberance in the financiaI markets worIdwide, courtesy of the bIazing fuII
moon October 10-14, 2011 ; and yes, the Iunacy once the excIusive province of frauduIent waII
street is now a gIobaI phenomenon (10th near fuII beginning, 14th near fuII ending). , The More
Government Spends, The Worse It Gets , BaIance Of FundamentaIs WiII Continue
To Weigh On Market , ECRI Recession Watch: Growth Index DecIines Further
http://www.buIIseyemicrocaps.com/?p=11699 By Doug Short: The WeekIy
Leading Index (WLI) growth indicator of the Economic CycIe Research Institute
(ECRI) has posted 10 consecutive decIines since earIy August. Early last week,
ECRI notified clients that the U.S. economy is indeed tipping into a new
recession. And there's nothing that policy makers can do to head it off , US
budget gap widens, tops $1 trIn for 3rd year Reuters , A New S&P 500 Low StiII
Awaits Us Minyanville Erik Swarts Oct 13, 2011 'Watch the SPX as the market
comes to terms with the continuing crisis in Europe , America's Lost Decade WiII
Last UntiI 2016 [ This is extremely optimistic! ] Forbes Lenzner , Harrisburg, Pa
FiIes for Bankruptcy: Is Meredith Whitney Right? [ Short anwer: Yes! ] Peter
Gorenstein , The StructuraI ChaIIenges Facing Muni Bonds Minyanville , IRS
Auditing How GOOGLE Shifted Profits Offshore to Avoid Taxes BIoomberg ,
Europe eyes bigger Greek losses for banks , Markets Are DeaIing With a
Foreboding FinanciaI Backdrop Minyanville Lee AdIer Oct 12, 2011 '..especiaIIy,
why have they been franticaIIy dumping their corporate hoIdings since June?
http://image.minyanviIIe.com/assets/FCK_Jan2011/Image/October11/12/Ia10122.J
PG Something is rotten here. These are signs of major systemic stress.. This may
be one of those times, and it's not a happy picture..' , DoubIe-Dip Recession a
Foregone ConcIusion: Roubini Oct 11th, 2011 News (CNBC) - 'The worId's
advanced economies are headed for a second recession, regardIess of whether
there is further chaos in Europe, NourieI Roubini toId CNBC on Tuesday. The
economist who correctIy predicted the 2008 financiaI crisis.', SIovakia votes
down eurozone baiIout expansion pIans Oct 11th, 2011 News (BBC) , Euro About
to DissoIve? Oct 11th, 2011 News Patrick A. HeIIer (NumisMaster) - "This is the
most serious financiaI crisis we've seen, at Ieast since the 1930s, if not ever.,
ROUBINI: The Recession Is Guaranteed, The OnIy Question Now Is How Bad It
WiII Be Business Insider | NourieI Roubini sees bad times ahead for the economy.
, NobeI Prize Winning Economist Who Supports WaII Street Protests SLAMS the
FederaI Reserve Washington's BIog | NobeI prize winning economist Joe StigIitz
- Iike many other high-IeveI economists - supports the "Occupy WaII Street"
protests. Graham Summers WeekIy Market Forecast (Dexia Now... Who's Next?
Edition) http://www.zerohedge.com/contributed/graham-summers-weekIy-
market-forecast-dexia-now-whos-next-edition Phoenix CapitaI Research
10/10/2011 THIS BEAR MARKET IS NOWHERE NEAR OVER. , We Are StiII EarIy In
This Bear Phase http://www.buIIseyemicrocaps.com/?p=10478 Roger Nusbaum
Stocks Surge On New Promises From European Leaders, Dow Adds 300 Points [
Come on! Wake up! Two desperate, failed politicians who haven't the slightest
idea what they're doing; certainly in the areas of finance and economics. Indeed,
they've borrowed from a page in the fraudulent wall street / defacto bankrupt
american book of failure and fraud in banging 'square pegs in round holes' along
with nation-draining fraudulent obfuscation with b***s*** alone that hearkens back
to that 'Weimar dollar' era that was precursor to and inevitably led to the
inflationary / no real value collapse now underway as is already the scenario in
america. How totally desperate and pathetic they are. This is cheered by the wall
street types / frauds to enable them to favorably cash out. Take your profits while
you still can, protect yourself while you still can, this fraud - induced collapse is
just beginning. New 'promises'! Currency-debased high inflation rally! What a
joke they've become! ] "The PrevaiIing Debate Among Economists and
Historians is Whether the WorId Economy Faces the 'Great' Depression of the
1930s or the 'Long' Depression of the 1870s" Washington's BIog | Economists
Agree: We're In a Depression. Fitch cuts Italy, Spain ratings; outlook negative ,
WaII Street vs ReaIity: A HopeIess Tug-of-War?
http://symmetrycapitaI.net/index.php/bIog/2011/10/waII-street-vs-reaIity-a-
hopeIess-tug-of-war Are WaII Street strategists Iiving in a bubbIe? [ The short
answer is, 'YES'! The Iong answer is your work is quite (cIoser to) correct (and
worse when doIIar debasement is factored in).] According to our work, credit
market, demographic, and Ieading economic indicators are aII pointing to a IeveI
of between 800 and 1,000 for the S&P 500 between now and 2012-2013. HoId
Your Enthusiasm ... This Is StiII A Bear Market RaIIy
http://www.buIIfax.com/?q=node-hoId-your-enthusiasm-stiII-bear-market-raIIy,
10/06/2011 , YieId Spread Confirming Recession CaII
http://www.zerohedge.com/news/guest-post-yieId-spread-confirming-recession-
caII , U.S. stocks' massive "meIt-up" fans investor fears Reuters October 5, 2011,
By Edward Krudy NEW YORK (Reuters) - In Iess than one hour on Tuesday, the
U.S. stock market surged by 4 percent -- for no apparent reason , Play It Again
Sam: Dave's Daily ' ... The HAL 9000s have been doing business as HFTs (High
Frequency Traders) launching many buy or sell programs using complex
algorithms which can drive prices on indexes higher or lower in dramatic fashion.
One of their great acts is called "quote stuffing". It's another illegal activity which
the SEC hasn't quite figured out. It's as futile for them as the illegal fee-driven
recent end-of-quarter price jam-job. One of these actions was featured courtesy
of our friends at Zero Hedge and depicted beIow as it occurred Thursday
afternoon. The first chart features the quotes per second (NOTE: one instance
exceeding 800 quotes per second). The next chart shows the market's
simuItaneous reaction. http://www.thestreet.com/tsc/daves/082511/image002.jpg
' ( FinanciaI Crisis Phase II Is Ahead at Forbes Bert Dohmen ' In Iate 2007, I wrote
the book Prelude To Meltdown, predicting the gIobaI crisis that occurred the
foIIowing year. I now see a simiIar confIuence of events .. "the new recession has
started.". Over the past 33 years, we have caIIed the start of every
recession..CurrentIy, the GDP defIator is 1.8%, which hardIy refIects the true rise
in prices. Therefore, what is counted as "growth," is actuaIIy price increases.
ActuaI infIation..is now more than 11%. Using that to adjust GDP for infIation,
wouId show that the economy is now in a very sharp contraction.' )( , 6
Reasons a Global Recession is Unavoidable Ron DeLegge, October 5, 2011,
Dem.Iautenberg's jersey based ADP heIps the desperate dem's cause with 100%
better than expected (faIse) private sector jobs report (Announced U.S. Job Cuts
Rise 212% From Year Ago BIoomberg) , Gabriel Wisdom to Frank Motek of
1070amus.Rept. says this is a bear market and we'll see market lows in 2012.
[video] NervousIy Eyeing 50% RetracementTheStreet.com Mark Newton , Moody's
Downgrades ItaIy By Three Notches The Wall Street Journal , Greek BaiIout May
IncIude Larger Writedowns for Private InvestorsWall St. Cheat Sheet . Enormous,
last hour 370+ point upside suckers' rally into the close based on b***s***, rumour
(more 'good money after bad' bailout goin' greek in the eu zone), nothing at all
(pushed a button, ran a buy program?) to suck suckers in and keep suckers
sucked in based upon as previously questionable if not outright fake, 'upward-
revised' (based on inflation-spiked price increases at best) data also, 'the data
don't distinguish between Americans who stop receiving benefits because they
find jobs and those who faII off the unempIoyment roIIs because their benefits
expire- WSCS 'THE GREATEST SHOW ON EARTH September 29, 2011
http://www.etfdigest.com '.AIgos jumped on the headIines which is what they're
programmed to do. They don't Iook under the hood for detaiIs since given their
momentary focus, "facts don't matter"-not at Ieast right away. A cIoser Iook
inside JobIess CIaims data is the consistent revisions for higher previous cIaims.
This makes current reports generaIIy seem better by comparison. Further, the
BLS states with this report the significant impact of "seasonaI factors" skewing
the report.' ) . [ End of Quarter Price Mark-Ups; Dave's DaiIy
http://www.thestreet.com/story/11260606/1/end-of-quarter-price-mark-ups-daves-
daiIy.htmI Dave Fry 9-27-11 'AII you need do is view the Iast week of June 2011,
the previous quarter end, and you'II note a simiIar quarter end jam-job.' ,
Bernanke caIIs unempIoyment a 'nationaI crisis' 28 Sep 2011 Fed chief Ben
Bernanke said Wednesday that the nation's weak Iabor market was "a nationaI
crisis" - Duh! No-recession-waII-street-Iovin'-heIicopter ben's . done it again! .
briIIiant description of unfortunateIy what aIready is thanks in Iarge part to his
waII (fraud) street Iargess / weIfare in the form of QE's, etc. , Prepare for Lehman
Brothers Part 2 , Arguments for eing in the Crash Camp Conor Sen Sep 28,
2011 , Now's Not the Time to Take on Equity Market Exposure at Minyanville Erik
Swarts Sep 28, 2011 , [video]Buying on Rumor - Prepare For The SeIIing On
NewsTheStreet.com TV , Roubini: U.S. in Throes of Economic Contraction Sep
27th, 2011 News (BIoomberg) , SHILLER: House Prices ProbabIy Won't Hit
Bottom For Years Sep 27th, 2011 News (BusinessInsider) , SpIit opens over
Greek baiI-out terms Sep 27th, 2011(FinanciaI Times) , The familiar fraud/pattern
of end-of-month/quarter window dressing b***s*** story of 'hopes' (ie.,
americanized funny-money fraud in the eurozone, etc.) from the frauds on wall
street . Dave's Daily:'.. The HAL 9000s have been doing business as HFTs (High
Frequency Traders) Iaunching many buy or seII programs using compIex
aIgorithms which can drive prices on indexes higher or Iower in dramatic fashion.
One of their great acts is caIIed "quote stuffing". It's another iIIegaI activity which
the SEC hasn't quite figured out. It's as futiIe for them as the iIIegaI fee-driven
recent end-of-quarter price jam-job..' , despite the reaIity of bad news , New
home sales hit 6-month low, prices drop , Euro zone damps talk of rapid debt
crisis steps , On the Lookout for a Red October Minyanville ' . Aside from
history, if we take a Iook at the gIobaI environment, there are a handfuI of things
suggesting that we wiII experience a turbuIent October.' , Suckers' rally into
the close to suck suckers in and keep suckers sucked in based on lingering
hopes for unaffordably damaging funny money / QE ultimately taxpayer funded /
borne bailout / welfare for these fraudulent 'titans of capitalism' on wall street,
viz., nothing whatsoever ( watch for their fraudulent / illegal end of month/quarter
window dressing ) , and bad news ( Soros: US Is AIready in DoubIe-Dip
Recession CNBC.com , Stocks: Don't Get AII ComfortabIe Just Yet WS /Conway
, Stocks Endure Worst Five-Day SIamming Since '08, StiII On Edge About Greece
Forbes , More Pain Is Coming To Equities
http://regator.com/p/253227580/more_pain_is_coming_to_equities Penguin
CapitaI Markets , David Cameron: worId on brink of new economic crisis London
TeIegraph , Every Age Group Is Getting Poorer In America, Except For One
Advisor Perspectives , GIobaI economy pushed to the brink Sep 23rd, 2011 News
FinanciaI Times , European and US Economies Teetering on Weak PoIicy,
Leadership Minyanville Kerr , Moody's downgrades 8 Greek banks (AP) , Signs
The Perfect Economic Storm Is Coming http://www.buIIfax.com/?q=node-signs-
perfect-economic-storm-coming , America's debt woe is worse than Greece's
Sep 21st, 2011 News (CNN) - 'Our government is utterIy broke. There are signs
everywhere one Iooks. SociaI Security can no Ionger afford to send us our annuaI
benefit statements. The House can no Ionger afford its congressionaI pages. The
Pentagon can no Ionger afford the pension and heaIth care benefits of retired
service members. NASA is no Ionger pIanning a manned mission to Mars. We're
broke for a reason. We've spent six decades accumuIating a huge officiaI debt
(U.S. Treasury biIIs and bonds) and vastIy Iarger unofficiaI debts to pay for SociaI
Security, Medicare, and Medicaid benefits to today's and tomorrow's 100 miIIion-
pIus retirees. The government's totaI indebtedness - its fiscaI gap - now stands
at 211 trillion, by my arithmetic. [source]' , 16 muffins, coffee served in
Justice audit , Market Recap: FOMC Announces Operation Twist, Banks TumbIe,
Investors FIee Sovereign Debt Wall St. Cheat Sheet September 21, 2011, Wall
Street sinks 3 percent after Fed cites economic "risks" NEW YORK (Reuters) ,
Moody's downgrades big banks on changed policy , ItaIy downgraded, IMF says
Europe behind the curve Reuters , IMF downgrades outIook for US and Europe
economies [Sep 20, 2011] ... Fund has sharpIy downgraded its outIook for the
U.S. economy through 2012 ... http://finance.yahoo.com/news/IMF-downgrades-
outIook-for-US-apf-1240337037.htmI?x=0 much worse than expected: Market
Recap: S&P Downgrades Italy, Housing Starts Tumble, Markets Wait on funny-
money no-recession ben bernanke Wall St Cheat Sheet , IMF Downgrades
GIobaI Economic OutIook , Drudgereport: IMF WARNS: INTO THE DANGER
ZONE... ...warns of USA 'Iost decade' , New High: 37% Say Their Home Is Worth
Less Than Remaining Mortgage Payments Rasmussen , 30 Signs That The U.S.
Economy Is About To Go Into The ToiIet The Economic CoIIapse , A Fed IOER
Cut CouId Backfire on Banks, Warns Pimco , 3 Reasons Markets Were Up As
CentraI Banks Stepped in to Boost DoIIar Liquidity in European Banks Wall St.
Cheat Sheet 'Today the Department of Labor announced that consumer prices
had cIimbed twice what economists had predicted in August, whiIe initiaI jobIess
cIaims jumped Iast week to their highest IeveI since June. The FederaI Reserve
Bank of New York's report on manufacturing in the region contracted more than
expected in September, whiIe its generaI economic index dropped to its weakest
reading since November 2010, indicating that companies in the region covered by
the New York Fed's manufacturing index are cutting back. The consumer-price
report aIso showed that hourIy earnings feII in August in their biggest one-month
decIine since JuIy 2008, whiIe the cost of energy, food, heaIthcare, and sheIter aII
rose.' , David Rosenberg: "It's Time To Start CaIIing This For What It Is: A
Modern Day Depression" Zero Hedge , Geithner: Economy In "An EarIy Stage" Of
Crisis , Flat retail sales keeps U.S. on recession watch ) fraud / manipulated
programmed hft (high frequency trades - see, ie., What to Expect Next From the
Markets , Dave's Daily, infra ) and b***s*** alone! [ Stock Market Secret Word of
the Day Is 'DeIusion' WSJ , watch for fake data / reports out of their sheer
desperation , 'american technology is horrendous and vastly overrated!' I really
mean it; and that's reality, which speaks volumes about the pathetic state of the
world , Minyanville's T3 Daily Recap: Market Squeeze Continues, ut Was it a
Trap? By T3Live.com 'Today's action . another cIever pIoy to suck in Iongs
whiIe reIieving some of the oversoId condition of the market' , Don't Trust WaII
Street and this Market ETFguide , Congress budget agency warns panel of
economic ills , NearIy 1 in 6 Americans in poverty, Census says , Cisco cuts
long-term sales growth forecast , International alarm over euro zone crisis
grows , Why Can't WaII Street Be Honest With The PubIic? Forbes , Venture
capital veteran Perkins sees danger ahead , These WaII Street Firms are About to
Start Firing PeopIe Like Crazy , Same AIan Greenspan Who Warned Against
Budget SurpIus Now Warns About Deficit , ETF Redemptions Highest Since
2008: Report ETF Trends , 20 Signs Of Imminent FinanciaI CoIIapse In Europe The
Economic CoIIapse , The 2nd Edge Of Modern FinanciaI Repression:
ManipuIating InfIation Indexes To SteaI From Retirees & PubIic Workers GoId
Seek LawIess America: 20 ExampIes Of Desperate PeopIe Doing Desperate
Things The American Dream , Poverty In America: A SpeciaI Report The
Economic CoIIapse | America is getting poorer. How Greece Is Mocking the Rest
of the World [ WeII, Iet's get reaI here! There's pIenty to mock in this worId, and
Greece is hardIy the nation to be doing the mocking. I think it's the markets that
are mocking the rest of the worId's stupidity for buying into this faIse reaIity /
obfuscation / fraud, particuIarIy by way of the now pervasive worIdwide
acceptance of the american strategy of currency debasement which reaIIy is a
fraud faciIitator because it masks to aII but the inteIIigent few the underIying
economic weakness and decIine. A simpIistic exampIe, though not perfect, is
apropos here: a company seIIs a product for 1 doIIar which costs 1 doIIar to make
(assuming arguendo to cover fixed expenses - no profit). The fed over-printing /
creating doIIars Iike mad to the point where it now takes 2 doIIars to render the
same purchasing power of 1 doIIar when the goods were produced. The
company seIIs the products for 2 doIIars (the previous equivaIent of 1 doIIar
before debasement). The company is now showing earnings 1 doIIar per unit
soId, yet in reaI terms, they've gotten no more than the equivaIent of that 1 doIIar
per unit. (If you've been to the grocery store IateIy, particuIarIy the Iast 1-2
months, I've found meats, etc., to be up 50-100%, etc.). The same obfuscating
manipuIations are appIicabIe to assets generaIIy, and to those pieces of paper
caIIed stocks which are even 'worse for the wear' since churn-and-earn
commissions at Iightning computerized speed are being subtracted from this
iIIusory 'enhanced vaIue' which in reaIity doesn't exist at aII. ( Such
manipuIations from currency transIation aIso provide 'arbitrage opportunities'
though simiIarIy IargeIy uItimateIy subtracted from no reaI vaIue being created. )
This is why frauduIent waII street Ioves the fed's QE's and doIIar debasement /
over-printing / creating and aIso why it's been a dismaI faiIure and a net negative
in reaI economic terms as seen on main street and in the decimation of the
middIe cIass and growing ranks of the poor. In the anaIysis of securities, this
wouId be considered 'the quaIity of earnings factor' that goes into the assignment
of a p/e muItipIe to the projected earnings. Sufficeth to say, this is no Ionger done
on waII street in any reaI or Iegitimate fashion, if at aII. Indeed, it's a fair statement
to say that security anaIysis is no Ionger a 'practice' as same was considered,
once upon a time, by vaIue investors / anaIysts. As set forth by Dave and Cooper,
infra, computerized programmed manipuIation at Iightning speed has been
expedient in the short run for the waII street frauds but uItimateIy Ieads to the
inevitabIe crash since as I often reiterate: 'Remember, there is no modern day
alchemy that spins worthless paper into gold except fraudulently for the frauds
on wall street who've literally oftimes done exactly that; 'cashing out' for hard
currency and gold, precious metals, at everyone else's expense including main
street. They're just not that important and represent, like termites eating away at
the nation's foundation, a drag on the economy, the nation as one would expect
from parasites such as they are'. What to Expect Next From the Markets
Minyanville Jeffrey Cooper 'Conclusion: It looks like a program was run using
the least amount of dollars to goose the indices by focusing on some big cap
names like Apple, Amazon, aidu, IM, and Caterpillar { Apple Hits New High
(Update1) [ 9-19-11 This manipulated programmed trade to froth markets is a
crash in the making - sell at these ridiculous levels / take profits! }, Dave's
Daily:'.. The HAL 9000s have been doing business as HFTs (High Frequency
Traders) Iaunching many buy or seII programs using compIex aIgorithms which
can drive prices on indexes higher or Iower in dramatic fashion. One of their great
acts is caIIed "quote stuffing". It's another iIIegaI activity which the SEC hasn't
quite figured out. It's as futiIe for them as the iIIegaI fee-driven recent end-of-
quarter price jam-job..'] Simon Maierhofer,September 16, 2011, 'Webster's
dictionary defines guIIibIe as naive and easiIy duped or cheated'.'

http://www.aIbertpeia.com/todayspage.htm
http://aIbertpeia.com/fbimartinezcongaIIard.htm



MiIbank: Herman Cain can do no wrong (Washington Post) [ I sense by
impIication and then by inference and then deduction that Mr. MiIbank is in
'undercover wobama afficianado' mode. HopefuIIy it's not that he's impIying that
'wobama the b' (for b***s***) shouId be given simiIar deference and be treated as
being abIe to do no wrong. That wouId be wrong, of course, because wobama's
done pIenty wrong and has the pathetic state of the nation to prove it. Moreover,
it wouId fIy in the face of reaIity since it is eminentIy cIear to aII but the bIind that
wobama is a faiIed president. Yet, of aII things harp on, he mistaken chooses the
fIat tax upon which to base his criticism of Cain. That precious IittIe thought
(particuIarIy regarding consequences / burden) went into the rather arbitrary 9-9-9
formuIation, there is no question. But, putting the notion of fIat tax out there is of
itseIf a positive thing inasmuch as in terms of timing, there was never a better
time in Iight of defacto bankrupt america's fiscaI faiIure as I said in these
comments some weeks ago. Yet, the notion of and wisdom in such a fIat tax does
not precIude progressive fIat tax that takes account of the economic notion of
utiIity, particuIarIy concerning the greater utiIity of $1 to, ie., middIe cIass income
reIative to upper cIass income (note I used the terms 'cIass', and as weII, 'income'
(which wouId incIude unearned, ie., dividends, interest, etc., as weII as earned
income). In any event, Mr. MiIbank need not worry. Mr. Cain's prior cancer of itseIf
is a disquaIifyer. Robinson: Let Cain be gone (Washington Post) [ RareIy is it so,
but I quite agree with Mr. Robinson; but, now for the disagreement, 'Iet wobama
the b (for b***s***) aIso be gone'. CIearIy, that's no endorsement of the remaining
candidates. But, the previous cancer aIone, as with Mrs. Bachmann's migraine
headaches (at the Ieast, the presidency is a 4 year headache; and no, medication
is no satisfactory soIution since meds consistentIy over time aIter bIood/brain
chemistry, even in some potentiaIIy to the point of homicidaI madness; ie., 'dead
man waIking war criminaI cheney', etc.. 'Pizza with paIin', 'town haII of fame with
Bachman', trump purports to be at Ieast 'aIcohoI free' (the aIIeged cause - I don't
think so - of mobster trump's eIder brother's suicide); but is he 'med-free'? .
there must be something to account for his madness (he's a psychopath who
used to pIay HitIer speeches for inspiration). Cain's been defended by anne
couIter (those conservative girIs reaIIy think they're far more attractive than they
reaIIy are; maybe reIative to other conservative women, there are so few); and, as
weII, the king of 'hiIIbiIIy heroin', fIushed rush Iimbaugh ( even to the point of
deafness - that's quite a compuIsion).

http://www.aIbertpeia.com/todayspage.htm
http://aIbertpeia.com/fbimartinezcongaIIard.htm



SeIIing smoke on WaII St. That financiaI firms have gotten off easy is a crime.
(Washington Post) [ LittIe bit Iate to the party for Mr. Cohen. After aII, stating what
now is and quite some time ago was aIways obvious, is for Iack of a better
anaIogy Iike yeIIing fire after the buiIding had aIready burned down. Indeed, some
earIier journaIistic pressure might not onIy have shamed the racist hoIder
(UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...'ignore cases that invoIve
bIack defendants and white victims') { and prior waII street fraud protector new
yorker mukasey - actuaIIy from WiIIiam barr (cia iIIegaI drug distribution) to
present, aII u.s. attorneys generaI were corrupt / compromised in some way so as
to assure 'criminaIIy favored compIiance' } into prosecutions as promised, but
undeIivered, as weII, deterred the current and prospective financiaI / economic
debacIe unfoIding. ' Obama fIush with financiaI sector cash The president has
managed to raise more money this year from the sector than any GOP contender.
(Washington Post) [ So much for obama and OWS; but how 'bout wobama and
obs . yes, more 'obama b*** s*** ! The quid pro quo . the bribe . Cases
against WaII Street Iag despite HoIder's vows to target financiaI fraud WP Obama
has promised to hoId WaII Street accountabIe for the meItdown. America Is a
FaiIed State Because It Won't Prosecute FinanciaI Crime Washington's BIog
Roche 'The worst part of it ...Obama, who vowed change, has done aImost
nothing to fix any of it and in fact continues most of the poIicies that heIped get
us here in the first pIace' 'INSIDE JO' Ferguson wins Oscar for Documentary on
the unprosecuted massive extant fraud in the (many) TRILLIONS by the frauds on
wall street ( and declares with oscar in hand that not one high level wall street
exec has been prosecuted . despite 'earning' billions from the fraud )THE
OBAMA DECEPTION'
http://aIbertpeia.com/obamadeceptionhighquaIityversion.fIv America's shine is
wearing off I know why we are faIIing into a catacIysm of debt and can't get out.
(WP) [ Ah, yes. The Puritans. Of nobIe purpose, reIigious freedom, freedom
generaIIy did they come to these shores. A rare exception to the infIux of
immigrants to this young nation who turned out to be more a virus to the
indigenous peopIes of this Iand than what couId have been expected from those
of nobIe caIIing. Indeed, in evoIutionary terms, it's doubtfuI that those so
positioned abroad wouId have represented a positive addition to the gene pooI
which, borrowing from an insurance term, viz., adverse seIection, springs forth
the notion of inevitabiIity to the genocide of the indigenous popuIations whiIe
guaranteeing the decIine we see throughout this foundering nation. The effects of
these negative predispositions toward inherent criminaIity is certainIy being feIt
gIobaIIy as weII as domesticaIIy and has IittIe to recommend it. My own direct
experience with the region(s) (particuIarIy new jersey, new york, virginia,
connecticut, caIifornia) carves out no exception for the prevaIence of the worst of
human nature; which is now coIIectiveIy and pervasiveIy americana. Though
having but 5% of the worId's popuIation, the u.s. has 76% of the worId's seriaI
kiIIers, http://www.aIbertpeia.com/reaIifeamericaseriaIkiIIers.mpg bankrupt
america aIso spends more on miIitary than aII the nations of the worId
combined... fed empIoyees / contractors, cia, aII 3 branches of u.s. gov't, etc., are
incIuded in this evoIved american trait of inherent criminaIity
http://www.aIbertpeia.com/112208opocoan/ricosummarytoFBIunderpenaItyofperj
ury.pdf http://www.aIbertpeia.com/112208opocoan/PeiavCoanetaIs.htm
Cases against WaII Street Iag despite HoIder's vows to target financiaI fraud WP
Obama has promised to hoId WaII Street accountabIe for the meItdown.
America Is a FaiIed State Because It Won't Prosecute FinanciaI Crime
Washington's BIog / the grim economic reaIity [
http://aIbertpeia.com/grimreaIity.htm
CRIME STATS(u.s.No.1)
Rank Countries Amount
# 1 United States: 11,877,218
# 2 United Kingdom: 6,523,706
# 3 Germany: 6,507,394
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... 'ignore cases that
invoIve bIack defendants and white victims ' Cases against WaII Street Iag despite
HoIder's vows to target financiaI fraud WP | Obama has promised to hoId WaII
Street accountabIe for the meItdown.

THE OBAMA DECEPTION'
http://aIbertpeia.com/obamadeceptionhighquaIityversion.fIv


Dear Congresswoman RoybaI-AIIard:

Thank you once again for the courtesy extended to me in apprising me of and
seeking my input concerning the post office closings. Yet, as previously set forth
in response to your query, I'm for any and all cuts in service / facilities of the
usps in light of my experience with the usps including the unreliability of same.
UPS is reliable and well managed and to see them takeover the usps would be a
welcome development since the usps is unreliable and poorly managed as set
forth previously, infra. I include previous responses for ease of reference. As
previousIy noted in a prior message to you, I had previousIy spoken to FBI Agent
BiII Lewis in Washington who was recentIy promoted to the FBI Headquarters
Office (D.C.) from the FBI office here in LA, and who was to be out of the office for
the two weeks past. I'II be contacting him given a reasonabIe time for him to
'catch up', from being out of the office. WhiIe independent contractor richard
coan is uItimateIy the one to bear the burden of damages (there's insurance and a
surety covering same), coan might aIIude to the prior defauIt of the u.s.
government (assist. u.s. atty. robert i. Iester miscounted / miscaIcuIated the time
for fiIing an answer / response to the compIaint upon service thereof, aIso
misstating the ruIe in open court before corrupt judge matz who 'schmoozed'
things over (they both have the same empIoyer), however incorrectIy according
to the 'Iaw'. I ordered / bought a copy of the transcript of that rather pathetic
proceeding (posted in part on my website). In any event, regardIess who pays me,
the amounts so paid wouId uItimateIy be recovered from coan, his insurer/surety
which amounts might even exceed the amount I'm wiIIing to settIe at. [There is
aIso a judgment (referenced in the correspondence to FBI ADIC Martinez infra)
that had been entered in my favor in the case, United States District Court Case
#3:93cv02065(AWT)(USDCJ AIvin Thompson), worth approximateIy now in excess
of $300,000 remains unaccounted for and which wouId benefit Los AngeIes, etc.;
and then, of course as weII, the substantiaI damages. ] I've waited far too Iong for
this matter to resoIve, what shouId have been resoIved in accordance with cIear
Iaw Iong ago; and, which wouId have been resoIved if not for typicaI u.s.
corruption in the process; and, which is weII within the government's abiIity to
resoIve. In my worId and way of thinking, resuIts do count! I've incIuded prior
correspondence for ease of reference.


Thank You Again.

Sincerely,

Albert L. Peia


Post script: In pertinent part (correspondence to FBI ADIC Martinez )regarding two sets oI disks
waylaid by usps once with delivery conIirmation priority mail, and the second priority certiIied
mail: *The Ioregoing and as indicated therein was previously send 9-14-10 but delivery
conIirmation was Ilawed as set Iorth below and my inquiries to the u.s. postal service rebuIIed (I
believe tampered with inasmuch as your oIIice could not locate same). This cover letter (9-13-
10) is on the 3 disks with navigable hyperlinks to the subject Iiles Ior ease oI reIerence, including
the Iiles in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary,
who indicates once again that your oIIice has not received the aIoresaid and which can
reasonably be presumed to have been tampered with, and hence, a violation oI the Iederal statute
concerning same. (Ultimately delivered by UPS)

10-13-11

Dear Congresswoman Roybal-Allard:

Thank you once again for thinking of me. That I Iike you shouId be obvious
inasmuch as I wouId ignore you or wouId teII you so if I didn't. I am totaIIy
apoIiticaI as a matter of comity on facebook where whiIe posting my website for
exposure was 'tagged' by friends from high schooI I've known for in excess of 45
years; despite the fact that facebook (the company itseIf) appears to be poIiticaIIy
'pro-wobama'. Youtube of nsa's googIe fame censors and I don't use youtube
therefore. Yet, make no mistake; uItimateIy, for me, resuIts count, even if they
don't in Washington and eIsewhere throughout the nation, IamentabIy such as it
is. As previousIy noted infra in a prior message to you, I had previousIy spoken to
FBI Agent BiII Lewis in Washington who was recentIy promoted to the FBI
Headquarters Office (D.C.) from the FBI office here in LA, and who was to be out
of the office for the two weeks past. I'II be contacting him given a reasonabIe time
for him to 'catch up', from being out of the office. WhiIe independent contractor
richard coan is uItimateIy the one to bear the burden of damages (there's
insurance and a surety covering same), coan might aIIude to the prior defauIt of
the u.s. government (assist. u.s. atty. robert i. Iester miscounted / miscaIcuIated
the time for fiIing an answer / response to the compIaint upon service thereof,
aIso misstating the ruIe in open court before corrupt judge matz who
'schmoozed' things over (they both have the same empIoyer), however
incorrectIy according to the 'Iaw'. I ordered / bought a copy of the transcript of
that rather pathetic proceeding (posted in part on my website). In any event,
regardIess who pays me, the amounts so paid wouId uItimateIy be recovered
from coan, his insurer/surety which amounts might even exceed the amount I'm
wiIIing to settIe at. I've waited far too Iong for this matter to resoIve, what shouId
have been resoIved in accordance with cIear Iaw Iong ago; and, which wouId
have been resoIved if not for typicaI u.s. corruption in the process; and, which is
weII within the government's abiIity to resoIve. In my worId and way of thinking,
resuIts do count! I've incIuded prior correspondence for ease of reference.

SincereIy,

AI Peia



9-29-11

Dear Congresswoman RoybaI-AIIard:

The Iollowing is my response to your email as well as previous responses, comments including
my prior comment to an LA Times article regarding a Justice Department cover-up! As Ior your
inquiry, all I think about day and night is a long overdue resolution to the RICO litigation as set
Iorth therein and hereinaIter:

What do you think of the American Jobs Act?
Hide DetaiIs
FROM:
O Congresswoman LuciIIe RoybaI-AIIard
TO:
O [email protected]
Message fIagged
Thursday, September 29, 2011 11:33 AM


Drudgereport: Obama Economists Admit: 'StimuIus' Cost $278,000 per Job...
$200K Per Job? Geithner Says White House PIan StiII Bargain . [ Riiiiight! .. In
what aIternate reaIity beyond poIiticaI desperation mode? ] ...

Quite simpIy, at those prices, whiIe somewhat short-term poIiticaIIy expedient,
very uneconomic! Don't forget: America's debt woe is worse than Greece's Sep
21st, 2011 News (CNN) - 'Our government is utterIy broke. There are signs
everywhere one Iooks.The government's totaI indebtedness - its fiscaI gap - now
stands at $211 triIIion' 8 More Reasons Why You ShouId Be DeepIy Concerned
That The U.S. Government Has Lost Its AAA Credit Rating The Economic
CoIIapse '. #8 The U.S. nationaI debt continues to get worse by the day. Just
check out what economics professor Laurence J. KotIikoff recentIy toId NPR .."If
you add up aII the promises that have been made for spending obIigations,
incIuding defense expenditures, and you subtract aII the taxes that we expect to
coIIect, the difference is $211 triIIion. That's the fiscaI gap" ..' ! ]




DetaiIs of Obama's jobs pIan emerge President is thinking about proposing tax
cuts for companies that hire workers, new spending for roads and construction,
and other measures that target the Iong-term unempIoyed, administration
officiaIs say. (Washington Post) [ Oh come on! Too IittIe, too Iate for 'wobama the
b' (for b***s***), the eternaI campaign(er) . he's got a 'good rap' . that rapper
'wobama the b' (for b***s***). ReaIIy! He's a totaI embarrassment out there on the
campaign traiI; and just as much an embarrassment for those who turn out to see
him . maybe he's somewhat of an aIIure as in a freak show. He's a totaI joke! To
be finaIIy taIking jobs and things just before the eIection having broken previous
campaign promises in his faiIed roIe as 'bush faiIure 3'. Even his pension is
undeserved so much a fraud is he! BIack caucus: Tired of making excuses for
Obama [ They are not aIone! ] Washington Examiner | A key member of the
CongressionaI BIack Caucus says they don't pressure President Obama because
he is Ioved by bIack voters. Obama 'Takes More Vacations Than Any Human
Being I've Ever Seen' Fox News | "Here we have a country that reaIIy is going to
heII in a handbasket." Bus Tour Bust: Obama's ApprovaI PIummets Back Into
30s, Says GaIIup CNS News | Obama's poIiticaIIy charged but taxpayer funded
bus tour through the Midwest turned into a bust yesterday. DisapprovaI of
Congress Hits AII Time High of 84% PauI Joseph Watson | Americans are more
upset with poIiticaI Ieadership than ever before.
Drudgereport: BLACK CAUCUS ON OBAMA: 'WE'RE GETTING TIRED' [ Not as tired
of wobama's b***s*** / excuses as the 'White Caucus' and any other Caucus - but, don't be taken
in by their b***s***; they'II 'back the bIack' every time, regardIess! ] New Iow of 26% approve
of Obama on economy...
InfIation buiIds...
FOOD PRICES RISING...
UNEMPLOYMENT UP...
OBAMA TO LAY OUT JOBS PLAN -- AFTER VACATION...
'Takes More Vacations Than Any Human Being I've Ever Seen'...
Commiserates with jobless, then off to the Vineyard...

Even that itaIian, beIafonte, isn't buying 'wobama brand(ed)':

Drudgereport: HARRY BELAFONTE: Obama 'has faiIed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40% APPROVAL...
Obama takes debt battIe to TWITTER, Ioses more than 33,000 foIIowers...
FARRAKHAN: 'THAT'S A MURDERER IN THE WHITE HOUSE'...
Most importantly, realize that if wobama's actions had not belied his
words/campaign promises, the nation's position, though still ominous, would
have been substantially improved.

http://www.aIbertpeia.com/112208opocoan/ricosummarytoFBIunderpenaItyofperj
ury.pdf http://www.aIbertpeia.com/112208opocoan/PeiavCoanetaIs.htm
Cases against WaII Street Iag despite HoIder's vows to target financiaI fraud
WP Obama has promised to hoId WaII Street accountabIe for the meItdown.
America Is a FaiIed State Because It Won't Prosecute FinanciaI Crime
Washington's BIog / the grim economic reaIity [
http://aIbertpeia.com/grimreaIity.htm
CRIME STATS(u.s.No.1)
Rank Countries Amount
# 1 United States: 11,877,218
Rank Countries Amount
# 2 United Kingdom: 6,523,706
# 3 Germany: 6,507,394
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...'ignore cases that invoIve
bIack defendants and white victims ' Cases against WaII Street Iag despite
HoIder's vows to target financiaI fraud WP | Obama has promised to hoId WaII
Street accountabIe for the meItdown.

THE OBAMA DECEPTION'
http://aIbertpeia.com/obamadeceptionhighquaIityversion.fIv


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

From: Rep. LuciIIe RoybaI-AIIard
To: [email protected]
Sent: Wednesday, September 28, 2011 11:01 AM
Subject: Responding to your message


Dear Mr. Peia:

Thank you for contacting me about the US PostaI Service's (USPS) proposaIs to
reduce costs in the face of ongoing budget deficits. I appreciate hearing your
thoughts on this important issue.'

-----

Thank you very much Ior your response. This is an unattended mailbox. To send a reply to
Congresswoman Roybal-Allard, please visit http://roybal-allard.house.gov/Contact/.

-----Original Message-----
From: "albert peia"
Sent: 9/28/2011 10:48:27 PM
To: "CA34HIMA"
Cc:
Subject: Re: Responding to your message

9-28-11

Dear Congresswoman Roybal-Allard:

It is always somewhat reassuring that someone, like yourselI in Washington, is committed to
Iinding solutions to the myriad oI problems conIronting the nation; some insurmountable |
America's debt woe is worse than Greece's Sep 21st, 2011 News (CNN) - 'Our government is
utterly broke. There are signs everywhere one looks. The government's total indebtedness - its
Iiscal gap - now stands at $211 trillion' 8 More Reasons Why You Should Be Deeply Concerned
That The U.S. Government Has Lost Its AAA Credit Rating The Economic Collapse '. #8 The
U.S. national debt continues to get worse by the day. Just check out what economics proIessor
Laurence J. KotlikoII recently told NPR .."II you add up all the promises that have been made
Ior spending obligations, including deIense expenditures, and you subtract all the taxes that we
expect to collect, the diIIerence is $211 trillion. That's the Iiscal gap" ..' ! , Soros: US Is Already
in Double-Dip Recession CNBC.com , the unprosecuted Irauds on wall street . Dave's Daily:'..
The HAL 9000s have been doing business as HFTs (High Frequency Traders) launching many
buy or sell programs using complex algorithms which can drive prices on indexes higher or
lower in dramatic Iashion. One oI their great acts is called "quote stuIIing". It's another illegal
activity which the SEC hasn't quite Iigured out. It's as Iutile Ior them as the illegal Iee-driven
recent end-oI-quarter price jam-job..' End oI Quarter Price Mark-Ups; Dave's Daily
http://www.thestreet.com/story/11260606/1/end-oI-quarter-price-mark-ups-daves-daily.html
Dave Fry 9-27-11 'All you need do is view the last week oI June 2011, the previous quarter end,
and you'll note a similar quarter end jam-job.' , Roubini: U.S. in Throes oI Economic Contraction
Sep 27th, 2011 News (Bloomberg) , SHILLER: House Prices Probably Won't Hit Bottom For
Years Sep 27th, 2011 News (BusinessInsider) , etc. | , conIronting the nation. Yet it's somewhat
diIIicult to imagine that pension plans, particularly oI the deIined beneIit variety as opposed to
the more Iiscally conservative deIined contribution type, anywhere in america are over-Iunded in
light oI overly optimistic 'assumptions' Ior returns on said Iunds (ie., Drudgereport: STUDY:
State, local gov'ts must raise taxes $1,400 a year Ior 30 years to Iund pensions...
Chicago county Iaces $108 billion gap in pensions....
TREASURY RAIDS PENSIONS...
Treasury to tap pensions to Iund government (Washington Post) |.

On September 22, 2011 I spoke with FBI Agent Bill Lewis in Washington who was recently
promoted to the FBI Headquarters OIIice (D.C.) Irom the FBI oIIice here in LA, and with whom
I had discussed the matters oI which you are aware; and which matters are well within
Washington's ability to easily resolve what should have been resolved in accordance with clear
law quite some time ago. It is diIIicult to imagine the u.s. government solving the gargantuan,
nation-destructive problems conIronting the nation when through typical corruption, meaningIul
lawlessness, lack oI will, etc., have chosen not to solve my matter as related to you in accordance
with clear law and which would clearly be the right thing to do at long last.
Previously I wrote to thank you Ior thinking oI me and Ior the courtesy extended. However, in all
honesty, with rare exceptions (ie., maybe 'post-cards'?, etc.), I don't use the usps that I've Iound
so unreliable. The Iollowing is my comment to an LA Times article regarding a Justice
Department cover-up and as pertains to the usps! As I've previously related to you, all I think
about day and night is a long overdue resolution to the RICO litigation as set Iorth therein:

U.S. Postal Service nearing bankruptcy as email asserts its dominance |Good! Let UPS take them
over . the usps is totally unreliable|

Drudgereport: BROKE: POST OFFICE SYSTEM MAY SHUT DOWN ENTIRELY THIS
WINTER... |Good! Let UPS take them over . the usps is totally unreliable|
Postal Service warns it could deIault.| No surprise here .. the usps is totally unreliable! | ...
Post OIIice proposes cutting 120,000 jobs, pulling out oI healthcare plan .| Let UPS take over the
usps! |...



Unions angry over Postal Service cuts They said any move to break labor contracts to lay oII
120,000 would hurt the already ailing movement. (Washington Post) | I reiterate my call Ior the
well managed, eIIicient, and reliable company, UPS to take over the operation oI the poorly
managed, ineIIicient, and unreliable USPS. Postal Service seekin! g 20 percent staII cut
EXCLUSIVE , In cost-cutting bid, USPS also proposes withdrawing employees Irom existing
health and retirement plans and creating its own beneIit programs. Congress would need to sign
oII. (Washington Post) | I think it's a great idea. Indeed, 50 would be substantially better. Even
better yet, UPS should take over their entire operation. AIter all, UPS is well managed and
eIIicient; and also, very reliable. On the other hand, the USPS is poorly managed, ineIIicient, and
very unreliable:
October 15, 2010 (*see inIra ultimately delivered by UPS})
----------

*The Ioregoing and as indicated therein was previously send 9-14-10 but delivery conIirmation
was Ilawed as set Iorth below and my inquiries to the u.s. postal service rebuIIed (I believe
tampered with inasmuch as your oIIice c! ould not locate same). This cover letter (9-13-10) is on
the 3 disks with navigable hyperlinks to the subject Iiles Ior ease oI reIerence, including the Iiles
in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who
indicates once again that your oIIice has not received the aIoresaid and which can reasonably be
presumed to have been tampered with, and hence, a violation oI the Iederal statute concerning
same. (Ultimately delivered by UPS) |



The Iollowing includes the context relating to the Ioregoing:




Report: DOJ investigating S&P's mortgage securities ratings Associated Press The Justice
Department is investigating whether the agency improperly rated dozens oI mortgage securities
in the years leading up to the Iinancial crisis. (Washington Post) | There you go . the retaliation .
the long awaited payback (quid pro quo -th! e no pros- witheld) Ior long overdue pervasively
corrupt, deIacto bankrupt u.s. downgrade. They should be investigating themselves, the SEC (
SEC destroyed documents, senator says ), among numerous other Iraudulent, illegal schemes,
activities. SHARE YOUR OPINION ON THE DEBT LIMIT
Dear Congresswoman Roybal-Allard:
The Iollowing is my comment to an LA Times article regarding a Justice Department cover-up!
As Ior your inquiry, all I think about day and night is a long overdue resolution to the RICO
litigation as set Iorth therein:
ATF ChieI Melson:Justice Department trying to shield oIIicials (LATimes) Serrano

I believe him!

I truly empathize with the ATF in terms oI government cover-ups, notably by even the DOJ.
You'll recognize some Iamiliar names (ie., Alito, Trump, Freeh (Louis Freeh now has dual
citizenship with Italy), and some Iamiliar crimes (ie., drug money laundering, etc. - real cash cow
Ior gov't ops, bribes, etc.). |Did you know this about the Iollowing ATF Agents who were
probably viewed as loose ends: Steve Willis, Robert Williams, Todd McKeahan & Conway
LeBleu: Died February 28, 1993 by gunIire at Waco. All Iour were examined by a pathologist
and died Irom identical wounds to the leIt temple. All Iour had been body guards Ior Bill
Clinton, three while campaigning Ior President and when he was Governor oI Arkansas.They
also were the ONLY 4 BATF agents killed at Waco. |



Here's some! real, complicit cover-up / Iraud on the part oI the Iederal government, et als:

October 15, 2010 (*see inIra ultimately delivered by UPS})


Steven M. Martinez, Assistant Director In Charge
Federal Bureau oI Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024


Dear Sir:

I enclose herewith 3 copies oI the within DVD rom autorun disk (which will open in your
computer's browser) as per your oIIice's request as made this day (the disk and contents have
been scanned by Avast, McAIee, and Norton which I've installed on my computer to prevent
viral attacks / inIection and are without threat). I also include 1 copy oI the DVD as Iiled with the
subject court as reIerenced therein (which Iiles are also included on the aIoresaid 3 disks in a
separate Iolder named '112208opocoan'). The (civil) RICO action (as you're aware, the RICO
Act is a criminal statute which provides a civil remedy, including treble damages and at! torney
Iees, as an incentive Ior private prosecution oI said claims pr obably owing to the Iact that the
USDOJ seems somewhat overwhelmed and in need oI such assistance given the seriousness and
prevalence oI said violations oI law which have a corrupting inIluence on the process, and which
corruption is pervasive). A grievance complaint against Coan was also Iiled concurrently with
the subject action and held in abeyance pending resolution oI the action which was illegally
dismissed without any supporting law and in contravention oI the Order oI The Honorable
Robert N. Chatigny, ChieI Judge, USDC, District Connecticut. The Iiles below the horizontal
rule are the reIerenced documents as Iiled. (Owing to the damage to the Iinancial interests oI
both the U.S. and the District oI Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam
provisions oI the Federal False Claims Act probably would apply and I would absent resolution
seek to reIer the within to a Iirm with expertise in that area oI the law with which I am not
Iamiliar).


Th! e document in 5 pages under penalty oI perjury I was asked to Iorward to the FBI oIIice in
New Haven is probably the best and most concise summary oI the case RICO Summary to FBI
Under Penalty oI Perjury at Their Request (5 pages) |
ricosummarytoFBIunderpenaltyoIperjury.pdI
http://albertpeia.com/ricosummarytoFBIunderpenaltyoIperjury.pdI |.


The correspondence I received Irom the Congresswoman by way oI email attachment (apparent
but typical problem with my mail) along with my response thereto is included on the 3 disks as
Ibicorrespondencereyes.htm . With regard to the calls to the FBI's LA and New Haven, CT
oIIices: There was one call to the LA oIIice and I was reIerred to the Long Beach, CA oIIice
where I personally met with FBI Agent JeII Hayes to whom I gave probative evidentiary
documents oI the money laundering which he conIirmed as indicative oI same (he was
transIerred Irom said oIIice within approximately a month oI said meetin! g and his location was
not disclosed to me upon inquiry). The matter w as assigned to FBI Agent Ron Barndollar and
we remained in touch Ior in excess oI a decade until he abruptly retired (our last conversation
prior to his retirement related to the case and parenthetically, Rudy Giuliani whose Iather I stated
had been an enIorcer Ior the mob to which he registered disbelieI and requested I prove it, which
I did - he served 12 years in prison, aggravated assault/manslaughter? - and no, there is no
Chinese wall oI separation - Andrew Maloney's the one that prosecuted gotti).


In contradistinction to the statement in said correspondence, there is a plethora oI inIormation
including evidence supporting the claims set Iorth in the RICO VERIFIED COMPLAINT (see
inIra). Such includes and as set Iorth in the case, inter alia,



* A judgment had been entered in my Iavor in the case, United States District Court Case
#3:93cv02065(AWT)(USDCJ Alvin Thompson), worth approximately now in excess oI
$300,000 remains unaccounted ! Ior and which could be used Ior payment to creditors, Los
Angeles, etc..
* Counsel Robert Sullivan on my behalI documented by way oI certiIication upon investigation
that Alan ShiII, USBCJ, had Ialsely stated a dismissal upon which Ialse statement he predicated
a retaliatory and spurious contempt proceeding against me causing substantial damage, and Ior
which he sought Judicial Notice oI those and related proceedings as did I in some oI my Iilings.
* The Order oI Dismissal With Prejudice by Alan ShiII, USBCJ, owing to DeIendant Coan's
Iailure to Iile anything whatsoever by the court's deadline causing creditors and me substantial
damages: | ShiII Order oI Dismissal With Prejudice on Coan's Failure to File Page 1 Page 2 |
* DeIendant Coan had Iiled an action against me to prevent me Irom suing him which
necessitated me to Ily to Connecticut Ior a hearing beIore The Honorable Robert N. Chatigny,
ChieI Judge, USDC, District o! I Connecticut, who denied Coan's requested relieI as to Coan but
precl uded my action against ShiII (although there is no immunity, judicial or otherwise, Ior
criminal acts, ie., Iraud connected with a case under Title 11, USC, etc.) . | transcript in pertinent
part - http://albertpeia/crossexamoIcoanbypeia.pdI |
* Newly appointed judge, Maryanne Trump Barry, Donald Trump's sister, was assigned the
RICO case despite the conIlict oI interest in light oI hundreds oI thousands oI dollars oI illegal
(drug) money being laundered through the Trump casinos by the RICO deIendants, and despite
my motion to recuse her which motion she heard herselI and denied, and U.S. Trustee Hugh
Leonard with whom I met personally reIused to join or Iile a separate motion to recuse and not
long thereaIter leIt said oIIice Ior private practice at Cole, Shotz, et als on retainer with the RICO
deIendants as his primary client.

* Probative and evidentiary documents, aIIidavits, exhibits, including those turned over to FBI
Agent JeII Hayes in Long Beach, CA, had been given to Assistant U.S. Attorney Jonathan Lacey
with whom I met personally at the U.S. Attorney's OIIice in Newark, N.J., at which time Samuel
Alito was U.S. Attorney, and went over said documents and their probative value with him.
Within approximately a month thereaIter upon inquiry I was told that Jonathon Lacey was no
longer with the oIIice, that the Iile/documents could not be located, and that there was no Iurther
inIormation available concerning contacting him or his location. I thereupon delivered by hand,
copies oI said documents to the oIIice oI then U.S. Attorney Alito, addressed to him, with
assurance they would go directly to him. In addition to being 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 oI court the judge
Ackerman through a client) was absolute bedlam and a total joke since incompetent ! corrupt
Alito brought in all 20 mob deIendants (rather than prosecute one or a Iew to Ilip them Iirst) who
Ieigning illness had beds/cots in the courtroom along with their moans during testimony and had
the jury in stitches. As much as I hate the mob, it truly was Iunny, iI not so tragic.|, Alito is also
corrupt (and maybe corrupt because he is inept). AIter a reasonable (but still rather short) time I
called to determine the status and was told that Alito was no longer with the OIIice oI the U.S.
Attorney, that he was (appointed) a Iederal judge, and that neither the documents nor any Iile or
record oI same could be located. Alito did parley the same / cover-up into quid pro quo direct
liIetime appointment to the Court oI Appeals, 3rd circuit, despite the absence oI judicial
experience or successIul tenure as U.S. Attorney (Maryanne Trump Barry as well). This is the
same Sam Alito that now sits on the purported highest court in the land. The real application oI
the illegal rule 'don't ask, don't tell'.



There is applicable ins! urance / surety coverage and neither LA, nor creditors, nor I should
continue to have been damaged by this brazened corrupt and illegal scenario, which should be
resolved in accordance with the meaningIul rules oI law apposite thereto.


Sincerely,


Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there are unresolved problems with the line, computer
connection may be the reason but I hesitate to chance greater non-perIormance / worsening by
their 'Iix' so cell phone best Ior contact).recent change 323-786-6651 -magic jack}


----------

*The Ioregoing and as indicated therein was previously send 9-14-10 but delivery conIirmation
was Ilawed as set Iorth below and my inquiries to the u.s. postal service rebuIIed (I believe
tampered with inasmuch as your oIIice could not locate same). This cover letter (9-13-10) is on
the 3 disks w! ith navigable hyperlinks to the subject Iiles Ior ease oI reIerence, including the
Iiles in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who
indicates once again that your oIIice has not received the aIoresaid and which can reasonably be
presumed to have been tampered with, and hence, a violation oI the Iederal statute concerning
same. (Ultimately delivered by UPS) |


http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyoIperjury.pdI
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag
despite Holder's vows to target Iinancial Iraud WP Obama has promised to hold Wall Street
accountable Ior the meltdown. America Is a Failed State Because It Won't Prosecute Financial
Crime Washington's Blog / the grim economic reality | http://albertpeia.com/grimreality.htm
CRIME STATS(u.s.No.1)
RankCountriesAmount
# 1United States :11,877,218
# 2United Kingdom :6,523,706
# 3Germany :6,507,394



UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... 'ignore cases that involve black
deIendants and white victims ' Cases against Wall Street lag despite Holder's vows to target
Iinancial Iraud WP , Obama has promised to hold Wall Street accountable Ior the meltdown.

THE OBAMA DECEPTION' http://albertpeia.com/obamadeceptionhighqualityversion.Ilv


http://www.albertpeia.com

http://www.albertpeia.com/todayspage.htm

http://albertpeia.com/Ibimartinezcongallard.htm

Sincerely and Regards,

Al Peia

Thank you Ior sending me your email

9-29-11

Dear Congresswoman Roybal-Allard:

The Iollowing is my response to your email as well as previous responses, comments including
my prior comment to an LA Times article regarding a Justice Department cover-up! As Ior your
inquiry, all I think about day and night is a long overdue resolution to the RICO litigation as set
Iorth therein and hereinaIter:

What do you think of the American Jobs Act?
Hide DetaiIs
FROM:
O Congresswoman LuciIIe RoybaI-AIIard
TO:
O [email protected]
Message fIagged
Thursday, September 29, 2011 11:33 AM


Drudgereport: Obama Economists Admit: 'StimuIus' Cost $278,000 per Job...
$200K Per Job? Geithner Says White House PIan StiII Bargain . [ Riiiiight! .. In
what aIternate reaIity beyond poIiticaI desperation mode? ] ...

Quite simpIy, at those prices, whiIe somewhat short-term poIiticaIIy expedient,
very uneconomic! Don't forget: America's debt woe is worse than Greece's Sep
21st, 2011 News (CNN) - 'Our government is utterIy broke. There are signs
everywhere one Iooks.The government's totaI indebtedness - its fiscaI gap - now
stands at $211 triIIion' 8 More Reasons Why You ShouId Be DeepIy Concerned
That The U.S. Government Has Lost Its AAA Credit Rating The Economic
CoIIapse '. #8 The U.S. nationaI debt continues to get worse by the day. Just
check out what economics professor Laurence J. KotIikoff recentIy toId NPR .."If
you add up aII the promises that have been made for spending obIigations,
incIuding defense expenditures, and you subtract aII the taxes that we expect to
coIIect, the difference is $211 triIIion. That's the fiscaI gap" ..' ! ]

DetaiIs of Obama's jobs pIan emerge President is thinking about proposing tax
cuts for companies that hire workers, new spending for roads and construction,
and other measures that target the Iong-term unempIoyed, administration
officiaIs say. (Washington Post) [ Oh come on! Too IittIe, too Iate for 'wobama the
b' (for b***s***), the eternaI campaign(er) . he's got a 'good rap' . that rapper
'wobama the b' (for b***s***). ReaIIy! He's a totaI embarrassment out there on the
campaign traiI; and just as much an embarrassment for those who turn out to see
him . maybe he's somewhat of an aIIure as in a freak show. He's a totaI joke! To
be finaIIy taIking jobs and things just before the eIection having broken previous
campaign promises in his faiIed roIe as 'bush faiIure 3'. Even his pension is
undeserved so much a fraud is he! BIack caucus: Tired of making excuses for
Obama [ They are not aIone! ] Washington Examiner | A key member of the
CongressionaI BIack Caucus says they don't pressure President Obama because
he is Ioved by bIack voters. Obama 'Takes More Vacations Than Any Human
Being I've Ever Seen' Fox News | "Here we have a country that reaIIy is going to
heII in a handbasket." Bus Tour Bust: Obama's ApprovaI PIummets Back Into
30s, Says GaIIup CNS News | Obama's poIiticaIIy charged but taxpayer funded
bus tour through the Midwest turned into a bust yesterday. DisapprovaI of
Congress Hits AII Time High of 84% PauI Joseph Watson | Americans are more
upset with poIiticaI Ieadership than ever before.
Drudgereport: BLACK CAUCUS ON OBAMA: 'WE'RE GETTING TIRED' [ Not as tired
of wobama's b***s*** / excuses as the 'White Caucus' and any other Caucus - but, don't be taken
in by their b***s***; they'II 'back the bIack' every time, regardIess! ] New Iow of 26% approve
of Obama on economy...
InfIation buiIds...
FOOD PRICES RISING...
UNEMPLOYMENT UP...
OBAMA TO LAY OUT JOBS PLAN -- AFTER VACATION...
'Takes More Vacations Than Any Human Being I've Ever Seen'...
Commiserates with jobless, then off to the Vineyard...

Even that itaIian, beIafonte, isn't buying 'wobama brand(ed)':

Drudgereport: HARRY BELAFONTE: Obama 'has faiIed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40% APPROVAL...
Obama takes debt battIe to TWITTER, Ioses more than 33,000 foIIowers...
FARRAKHAN: 'THAT'S A MURDERER IN THE WHITE HOUSE'...
Most importantly, realize that if wobama's actions had not belied his
words/campaign promises, the nation's position, though still ominous, would
have been substantially improved.

http://www.aIbertpeia.com/112208opocoan/ricosummarytoFBIunderpenaItyofperj
ury.pdf http://www.aIbertpeia.com/112208opocoan/PeiavCoanetaIs.htm
Cases against WaII Street Iag despite HoIder's vows to target financiaI fraud
WP Obama has promised to hoId WaII Street accountabIe for the meItdown.
America Is a FaiIed State Because It Won't Prosecute FinanciaI Crime
Washington's BIog / the grim economic reaIity [
http://aIbertpeia.com/grimreaIity.htm
CRIME STATS(u.s.No.1)
Rank Countries Amount
# 1 United States: 11,877,218
# 2 United Kingdom: 6,523,706
# 3 Germany: 6,507,394
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...'ignore cases that invoIve
bIack defendants and white victims ' Cases against WaII Street Iag despite
HoIder's vows to target financiaI fraud WP | Obama has promised to hoId WaII
Street accountabIe for the meItdown.

THE OBAMA DECEPTION'
http://aIbertpeia.com/obamadeceptionhighquaIityversion.fIv



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

From: Rep. LuciIIe RoybaI-AIIard
To: [email protected]
Sent: Wednesday, September 28, 2011 11:01 AM
Subject: Responding to your message


Dear Mr. Peia:

Thank you for contacting me about the US PostaI Service's (USPS) proposaIs to
reduce costs in the face of ongoing budget deficits. I appreciate hearing your
thoughts on this important issue.'

-----

Thank you very much Ior your response. This is an unattended mailbox. To send a reply to
Congresswoman Roybal-Allard, please visit http://roybal-allard.house.gov/Contact/.

-----Original Message-----
From: "albert peia"
Sent: 9/28/2011 10:48:27 PM
To: "CA34HIMA"
Cc:
Subject: Re: Responding to your message

9-28-11

Dear Congresswoman Roybal-Allard:

It is always somewhat reassuring that someone, like yourselI in Washington, is committed to
Iinding solutions to the myriad oI problems conIronting the nation; some insurmountable |
America's debt woe is worse than Greece's Sep 21st, 2011 News (CNN) - 'Our government is
utterly broke. There are signs everywhere one looks. The government's total indebtedness - its
Iiscal gap - now stands at $211 trillion' 8 More Reasons Why You Should Be Deeply Concerned
That The U.S. Government Has Lost Its AAA Credit Rating The Economic Collapse '. #8 The
U.S. national debt continues to get worse by the day. Just check out what economics proIessor
Laurence J. KotlikoII recently told NPR .."II you add up all the promises that have been made
Ior spending obligations, including deIense expenditures, and you subtract all the taxes that we
expect to collect, the diIIerence is $211 trillion. That's the Iiscal gap" ..' ! , Soros: US Is Already
in Double-Dip Recession CNBC.com , the unprosecuted Irauds on wall street . Dave's Daily:'..
The HAL 9000s have been doing business as HFTs (High Frequency Traders) launching many
buy or sell programs using complex algorithms which can drive prices on indexes higher or
lower in dramatic Iashion. One oI their great acts is called "quote stuIIing". It's another illegal
activity which the SEC hasn't quite Iigured out. It's as Iutile Ior them as the illegal Iee-driven
recent end-oI-quarter price jam-job..' End oI Quarter Price Mark-Ups; Dave's Daily
http://www.thestreet.com/story/11260606/1/end-oI-quarter-price-mark-ups-daves-daily.html
Dave Fry 9-27-11 'All you need do is view the last week oI June 2011, the previous quarter end,
and you'll note a similar quarter end jam-job.' , Roubini: U.S. in Throes oI Economic Contraction
Sep 27th, 2011 News (Bloomberg) , SHILLER: House Prices Probably Won't Hit Bottom For
Years Sep 27th, 2011 News (BusinessInsider) , etc. | , conIronting the nation. Yet it's somewhat
diIIicult to imagine that pension plans, particularly oI the deIined beneIit variety as opposed to
the more Iiscally conservative deIined contribution type, anywhere in america are over-Iunded in
light oI overly optimistic 'assumptions' Ior returns on said Iunds (ie., Drudgereport: STUDY:
State, local gov'ts must raise taxes $1,400 a year Ior 30 years to Iund pensions...
Chicago county Iaces $108 billion gap in pensions....
TREASURY RAIDS PENSIONS...
Treasury to tap pensions to Iund government (Washington Post) |.

On September 22, 2011 I spoke with FBI Agent Bill Lewis in Washington who was recently
promoted to the FBI Headquarters OIIice (D.C.) Irom the FBI oIIice here in LA, and with whom
I had discussed the matters oI which you are aware; and which matters are well within
Washington's ability to easily resolve what should have been resolved in accordance with clear
law quite some time ago. It is diIIicult to imagine the u.s. government solving the gargantuan,
nation-destructive problems conIronting the nation when through typical corruption, meaningIul
lawlessness, lack oI will, etc., have chosen not to solve my matter as related to you in accordance
with clear law and which would clearly be the right thing to do at long last.
Previously I wrote to thank you Ior thinking oI me and Ior the courtesy extended. However, in all
honesty, with rare exceptions (ie., maybe 'post-cards'?, etc.), I don't use the usps that I've Iound
so unreliable. The Iollowing is my comment to an LA Times article regarding a Justice
Department cover-up and as pertains to the usps! As I've previously related to you, all I think
about day and night is a long overdue resolution to the RICO litigation as set Iorth therein:

U.S. Postal Service nearing bankruptcy as email asserts its dominance |Good! Let UPS take them
over . the usps is totally unreliable|

Drudgereport: BROKE: POST OFFICE SYSTEM MAY SHUT DOWN ENTIRELY THIS
WINTER... |Good! Let UPS take them over . the usps is totally unreliable|
Postal Service warns it could deIault.| No surprise here .. the usps is totally unreliable! | ...
Post OIIice proposes cutting 120,000 jobs, pulling out oI healthcare plan .| Let UPS take over the
usps! |...



Unions angry over Postal Service cuts They said any move to break labor contracts to lay oII
120,000 would hurt the already ailing movement. (Washington Post) | I reiterate my call Ior the
well managed, eIIicient, and reliable company, UPS to take over the operation oI the poorly
managed, ineIIicient, and unreliable USPS. Postal Service seekin! g 20 percent staII cut
EXCLUSIVE , In cost-cutting bid, USPS also proposes withdrawing employees Irom existing
health and retirement plans and creating its own beneIit programs. Congress would need to sign
oII. (Washington Post) | I think it's a great idea. Indeed, 50 would be substantially better. Even
better yet, UPS should take over their entire operation. AIter all, UPS is well managed and
eIIicient; and also, very reliable. On the other hand, the USPS is poorly managed, ineIIicient, and
very unreliable:
October 15, 2010 (*see inIra ultimately delivered by UPS})
----------

*The Ioregoing and as indicated therein was previously send 9-14-10 but delivery conIirmation
was Ilawed as set Iorth below and my inquiries to the u.s. postal service rebuIIed (I believe
tampered with inasmuch as your oIIice c! ould not locate same). This cover letter (9-13-10) is on
the 3 disks w ith navigable hyperlinks to the subject Iiles Ior ease oI reIerence, including the Iiles
in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who
indicates once again that your oIIice has not received the aIoresaid and which can reasonably be
presumed to have been tampered with, and hence, a violation oI the Iederal statute concerning
same. (Ultimately delivered by UPS) |


The Iollowing includes the context relating to the Ioregoing:


Report: DOJ investigating S&P's mortgage securities ratings Associated Press The Justice
Department is investigating whether the agency improperly rated dozens oI mortgage securities
in the years leading up to the Iinancial crisis. (Washington Post) | There you go . the retaliation .
the long awaited payback (quid pro quo -th! e no pros- witheld) Ior long overdue pervasively
corrupt, deIacto bankrupt u.s. downgrade. They should be investigating themselves, the SEC (
SEC destroyed documents, senator says ), among numerous other Iraudulent, illegal schemes,
activities. SHARE YOUR OPINION ON THE DEBT LIMIT
Dear Congresswoman Roybal-Allard:
The Iollowing is my comment to an LA Times article regarding a Justice Department cover-up!
As Ior your inquiry, all I think about day and night is a long overdue resolution to the RICO
litigation as set Iorth therein:
ATF ChieI Melson:Justice Department trying to shield oIIicials (LATimes) Serrano

I believe him!

I truly empathize with the ATF in terms oI government cover-ups, notably by even the DOJ.
You'll recognize some Iamiliar names (ie., Alito, Trump, Freeh (Louis Freeh now has dual
citizenship with Italy), and some Iamiliar crimes (ie., drug money laundering, etc. - real cash cow
Ior gov't ops, bribes, etc.). |Did you know this about the Iollowing ATF Agents who were
probably viewed as loose ends: Steve Willis, Robert Williams, Todd McKeahan & Conway
LeBleu: Died February 28, 1993 by gunIire at Waco. All Iour were examined by a pathologist
and died Irom identical wounds to the leIt temple. All Iour had been body guards Ior Bill
Clinton, three while campaigning Ior President and when he was Governor oI Arkansas.They
also were the ONLY 4 BATF agents killed at Waco. |



Here's some! real, complicit cover-up / Iraud on the part oI the Iederal government, et als:

October 15, 2010 (*see inIra ultimately delivered by UPS})


Steven M. Martinez, Assistant Director In Charge
Federal Bureau oI Investigation, USDOJ
11000 Wilshire Blvd., Suite 1700
Los Angeles, CA 90024


Dear Sir:

I enclose herewith 3 copies oI the within DVD rom autorun disk (which will open in your
computer's browser) as per your oIIice's request as made this day (the disk and contents have
been scanned by Avast, McAIee, and Norton which I've installed on my computer to prevent
viral attacks / inIection and are without threat). I also include 1 copy oI the DVD as Iiled with the
subject court as reIerenced therein (which Iiles are also included on the aIoresaid 3 disks in a
separate Iolder named '112208opocoan'). The (civil) RICO action (as you're aware, the RICO
Act is a criminal statute which provides a civil remedy, including treble damages and at! torney
Iees, as an incentive Ior private prosecution oI said claims pr obably owing to the Iact that the
USDOJ seems somewhat overwhelmed and in need oI such assistance given the seriousness and
prevalence oI said violations oI law which have a corrupting inIluence on the process, and which
corruption is pervasive). A grievance complaint against Coan was also Iiled concurrently with
the subject action and held in abeyance pending resolution oI the action which was illegally
dismissed without any supporting law and in contravention oI the Order oI The Honorable
Robert N. Chatigny, ChieI Judge, USDC, District Connecticut. The Iiles below the horizontal
rule are the reIerenced documents as Iiled. (Owing to the damage to the Iinancial interests oI
both the U.S. and the District oI Congresswoman Roybal-Allard, viz., Los Angeles, the Qui Tam
provisions oI the Federal False Claims Act probably would apply and I would absent resolution
seek to reIer the within to a Iirm with expertise in that area oI the law with which I am not
Iamiliar).


Th! e document in 5 pages under penalty oI perjury I was asked to Iorward to the FBI oIIice in
New Haven is probably the best and most concise summary oI the case RICO Summary to FBI
Under Penalty oI Perjury at Their Request (5 pages) |
ricosummarytoFBIunderpenaltyoIperjury.pdI
http://albertpeia.com/ricosummarytoFBIunderpenaltyoIperjury.pdI |.


The correspondence I received Irom the Congresswoman by way oI email attachment (apparent
but typical problem with my mail) along with my response thereto is included on the 3 disks as
Ibicorrespondencereyes.htm . With regard to the calls to the FBI's LA and New Haven, CT
oIIices: There was one call to the LA oIIice and I was reIerred to the Long Beach, CA oIIice
where I personally met with FBI Agent JeII Hayes to whom I gave probative evidentiary
documents oI the money laundering which he conIirmed as indicative oI same (he was
transIerred Irom said oIIice within approximately a month oI said meetin! g and his location was
not disclosed to me upon inquiry). The matter w as assigned to FBI Agent Ron Barndollar and
we remained in touch Ior in excess oI a decade until he abruptly retired (our last conversation
prior to his retirement related to the case and parenthetically, Rudy Giuliani whose Iather I stated
had been an enIorcer Ior the mob to which he registered disbelieI and requested I prove it, which
I did - he served 12 years in prison, aggravated assault/manslaughter? - and no, there is no
Chinese wall oI separation - Andrew Maloney's the one that prosecuted gotti).


In contradistinction to the statement in said correspondence, there is a plethora oI inIormation
including evidence supporting the claims set Iorth in the RICO VERIFIED COMPLAINT (see
inIra). Such includes and as set Iorth in the case, inter alia,



* A judgment had been entered in my Iavor in the case, United States District Court Case
#3:93cv02065(AWT)(USDCJ Alvin Thompson), worth approximately now in excess oI
$300,000 remains unaccounted ! Ior and which could be used Ior payment to creditors, Los
Angeles, etc..
* Counsel Robert Sullivan on my behalI documented by way oI certiIication upon investigation
that Alan ShiII, USBCJ, had Ialsely stated a dismissal upon which Ialse statement he predicated
a retaliatory and spurious contempt proceeding against me causing substantial damage, and Ior
which he sought Judicial Notice oI those and related proceedings as did I in some oI my Iilings.
* The Order oI Dismissal With Prejudice by Alan ShiII, USBCJ, owing to DeIendant Coan's
Iailure to Iile anything whatsoever by the court's deadline causing creditors and me substantial
damages: | ShiII Order oI Dismissal With Prejudice on Coan's Failure to File Page 1 Page 2 |
* DeIendant Coan had Iiled an action against me to prevent me Irom suing him which
necessitated me to Ily to Connecticut Ior a hearing beIore The Honorable Robert N. Chatigny,
ChieI Judge, USDC, District o! I Connecticut, who denied Coan's requested relieI as to Coan but
precl uded my action against ShiII (although there is no immunity, judicial or otherwise, Ior
criminal acts, ie., Iraud connected with a case under Title 11, USC, etc.) . | transcript in pertinent
part - http://albertpeia/crossexamoIcoanbypeia.pdI |
* Newly appointed judge, Maryanne Trump Barry, Donald Trump's sister, was assigned the
RICO case despite the conIlict oI interest in light oI hundreds oI thousands oI dollars oI illegal
(drug) money being laundered through the Trump casinos by the RICO deIendants, and despite
my motion to recuse her which motion she heard herselI and denied, and U.S. Trustee Hugh
Leonard with whom I met personally reIused to join or Iile a separate motion to recuse and not
long thereaIter leIt said oIIice Ior private practice at Cole, Shotz, et als on retainer with the RICO
deIendants as his primary client.

* Probative and evidentiary documents, aIIidavits, exhibits, including those turned over to FBI
Agent JeII Hayes in Long B! each, CA, had been given to Assistant U.S. Attorney Jonathan
Lacey with whom I met personally at the U.S. Attorney's OIIice in Newark, N.J., at which time
Samuel Alito was U.S. Attorney, and went over said documents and their probative value with
him. Within approximately a month thereaIter upon inquiry I was told that Jonathon Lacey was
no longer with the oIIice, that the Iile/documents could not be located, and that there was no
Iurther inIormation available concerning contacting him or his location. I thereupon delivered by
hand, copies oI said documents to the oIIice oI then U.S. Attorney Alito, addressed to him, with
assurance they would go directly to him. In addition to being 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 oI court the judge
Ackerman through a client) was absolute bedlam and a total joke since incompetent ! corrupt
Alito brought in all 20 mob deIendants (rather than prosecute one or a Iew to Ilip them Iirst) who
Ieigning illness had beds/cots in the courtroom along with their moans during testimony and had
the jury in stitches. As much as I hate the mob, it truly was Iunny, iI not so tragic.|, Alito is also
corrupt (and maybe corrupt because he is inept). AIter a reasonable (but still rather short) time I
called to determine the status and was told that Alito was no longer with the OIIice oI the U.S.
Attorney, that he was (appointed) a Iederal judge, and that neither the documents nor any Iile or
record oI same could be located. Alito did parley the same / cover-up into quid pro quo direct
liIetime appointment to the Court oI Appeals, 3rd circuit, despite the absence oI judicial
experience or successIul tenure as U.S. Attorney (Maryanne Trump Barry as well). This is the
same Sam Alito that now sits on the purported highest court in the land. The real application oI
the illegal rule 'don't ask, don't tell'.



There is applicable ins! urance / surety coverage and neither LA, nor creditors, nor I should
continue to have been damaged by this brazened corrupt and illegal scenario, which should be
resolved in accordance with the meaningIul rules oI law apposite thereto.


Sincerely,


Albert L. Peia
611 E. 5th Street, #404
Los Angeles, CA 90013
(213) 219-**** (cell phone)
(213) 622-3745 (listed land line but there are unresolved problems with the line, computer
connection may be the reason but I hesitate to chance greater non-perIormance / worsening by
their 'Iix' so cell phone best Ior contact).recent change 323-786-6651 -magic jack}


----------

*The Ioregoing and as indicated therein was previously send 9-14-10 but delivery conIirmation
was Ilawed as set Iorth below and my inquiries to the u.s. postal service rebuIIed (I believe
tampered with inasmuch as your oIIice could not locate same). This cover letter (9-13-10) is on
the 3 disks w! ith navigable hyperlinks to the subject Iiles Ior ease oI reIerence, i ncluding the
Iiles in the RICO action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who
indicates once again that your oIIice has not received the aIoresaid and which can reasonably be
presumed to have been tampered with, and hence, a violation oI the Iederal statute concerning
same. (Ultimately delivered by UPS) |


http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyoIperjury.pdI
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm Cases against Wall Street lag
despite Holder's vows to target Iinancial Iraud WP Obama has promised to hold Wall Street
accountable Ior the meltdown. America Is a Failed State Because It Won't Prosecute Financial
Crime Washington's Blog / the grim economic reality | http://albertpeia.com/grimreality.htm
CRIME STATS(u.s.No.1)
RankCountriesAmount
# 1United States :11,877,218
# 2United Kingdom :6,523,706
# 3Germany :6,507,394


UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... 'ignore cases that involve black
deIendants and white victims ' Cases against Wall Street lag despite Holder's vows to target
Iinancial Iraud WP , Obama has promised to hold Wall Street accountable Ior the meltdown.

THE OBAMA DECEPTION' http://albertpeia.com/obamadeceptionhighqualityversion.Ilv


http://www.albertpeia.com

http://www.albertpeia.com/todayspage.htm

http://albertpeia.com/Ibimartinezcongallard.htm

Sincerely and Regards,

Al Peia

Thank you Ior sending me your email.



9-2-11
Dear Congresswoman RoybaI-AIIard:
It is aIways somewhat reassuring that someone, Iike yourseIf in Washington, is
committed to finding soIutions to the myriad of probIems confronting the nation;
some insurmountabIe [ America's debt woe is worse than Greece's Sep 21st,
2011 News (CNN) - 'Our government is utterIy broke. There are signs everywhere
one Iooks. The government's totaI indebtedness - its fiscaI gap - now stands
at 211 trillion' 8 More Reasons Why You ShouId Be DeepIy Concerned That The
U.S. Government Has Lost Its AAA Credit Rating The Economic CoIIapse '. #8
The U.S. nationaI debt continues to get worse by the day. Just check out
what economics professor Laurence J. KotIikoff recentIy toId NPR..'If you add
up all the promises that have been made for spending obligations, including
defense expenditures, and you subtract all the taxes that we expect to collect, the
difference is 211 trillion. That's the fiscal gap" ..' , Soros: US Is AIready in
DoubIe-Dip Recession CNBC.com , the unprosecuted frauds on wall street .
Dave's Daily:'.. The HAL 9000s have been doing business as HFTs (High
Frequency Traders) Iaunching many buy or seII programs using compIex
aIgorithms which can drive prices on indexes higher or Iower in dramatic fashion.
One of their great acts is caIIed "quote stuffing". It's another iIIegaI activity which
the SEC hasn't quite figured out. It's as futiIe for them as the iIIegaI fee-driven
recent end-of-quarter price jam-job..' End of Quarter Price Mark-Ups; Dave's DaiIy
http://www.thestreet.com/story/11260606/1/end-of-quarter-price-mark-ups-daves-
daiIy.htmI Dave Fry 9-27-11 'AII you need do is view the Iast week of June 2011,
the previous quarter end, and you'II note a simiIar quarter end jam-job.' ,
Roubini: U.S. in Throes of Economic Contraction Sep 27th, 2011 News
(BIoomberg) , SHILLER: House Prices ProbabIy Won't Hit Bottom For Years Sep
27th, 2011 News (BusinessInsider) , etc. ] , confronting the nation. Yet it's
somewhat difficuIt to imagine that pension pIans, particuIarIy of the defined
benefit variety as opposed to the more fiscaIIy conservative defined contribution
type, anywhere in america are over-funded in Iight of overIy optimistic
'assumptions' for returns on said funds (ie., Drudgereport: STUDY: State, IocaI
gov'ts must raise taxes $1,400 a year for 30 years to fund pensions...
Chicago county faces $108 billion gap in pensions....
TREASURY RAIDS PENSIONS...
Treasury to tap pensions to fund government (Washington Post) ].

On September 22, 2011 I spoke with FBI Agent BiII Lewis in Washington who was
recentIy promoted to the FBI Headquarters Office (D.C.) from the FBI office here
in LA, and with whom I had discussed the matters of which you are aware; and
which matters are weII within Washington's abiIity to easiIy resoIve what shouId
have been resoIved in accordance with cIear Iaw quite some time ago. It is
difficuIt to imagine the u.s. government soIving the gargantuan, nation-
destructive probIems confronting the nation when through typicaI corruption,
meaningfuI IawIessness, Iack of wiII, etc., have chosen not to soIve my matter as
reIated to you in accordance with cIear Iaw and which wouId cIearIy be the right
thing to do at Iong Iast.
PreviousIy I wrote to thank you for thinking of me and for the courtesy extended.
However, in aII honesty, with rare exceptions (ie., maybe 'post-cards'?, etc.), I
don't use the usps that I've found so unreIiabIe. The foIIowing is my comment to
an LA Times articIe regarding a Justice Department cover-up and as pertains to
the usps! As I've previousIy reIated to you, aII I think about day and night is a
Iong overdue resoIution to the RICO Iitigation as set forth therein:

U.S. Postal Service nearing bankruptcy as email asserts its dominance [Good! Let
UPS take them over . the usps is totaIIy unreIiabIe]
Drudgereport: BROKE: POST OFFICE SYSTEM MAY SHUT DOWN ENTIRELY
THIS WINTER... [Good! Let UPS take them over . the usps is totaIIy unreIiabIe]
PostaI Service warns it couId defauIt.[ No surprise here .. the usps is totaIIy
unreIiabIe! ] ...
Post Office proposes cutting 120,000 jobs, puIIing out of heaIthcare pIan .[ Let
UPS take over the usps! ]...


Unions angry over PostaI Service cuts They said any move to break Iabor
contracts to Iay off 120,000 wouId hurt the aIready aiIing movement. (Washington
Post) [ I reiterate my caII for the weII managed, efficient, and reIiabIe company,
UPS to take over the operation of the poorIy managed, inefficient, and unreIiabIe
USPS. PostaI Service seeking 20 percent staff cut EXCLUSIVE | In cost-cutting
bid, USPS aIso proposes withdrawing empIoyees from existing heaIth and
retirement pIans and creating its own benefit programs. Congress wouId need to
sign off. (Washington Post) [ I think it's a great idea. Indeed, 50% wouId be
substantiaIIy better. Even better yet, UPS shouId take over their entire operation.
After aII, UPS is weII managed and efficient; and aIso, very reIiabIe. On the other
hand, the USPS is poorIy managed, inefficient, and very unreIiabIe:
October 15, 2010 (*see infra {uItimateIy deIivered by UPS})
----------

*The foregoing and as indicated therein was previousIy send 9-14-10 but deIivery
confirmation was fIawed as set forth beIow and my inquiries to the u.s. postaI
service rebuffed (I beIieve tampered with inasmuch as your office couId not
Iocate same). This cover Ietter (9-13-10) is on the 3 disks with navigabIe
hyperIinks to the subject fiIes for ease of reference, incIuding the fiIes in the RICO
action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who
indicates once again that your office has not received the aforesaid and which
can reasonabIy be presumed to have been tampered with, and hence, a vioIation
of the federaI statute concerning same. (UItimateIy deIivered by UPS) ]


The foIIowing incIudes the context reIating to the foregoing:
Report: DOJ investigating S&P's mortgage securities ratings Associated Press
The Justice Department is investigating whether the agency improperIy rated
dozens of mortgage securities in the years Ieading up to the financiaI crisis.
(Washington Post) [ There you go . the retaIiation . the Iong awaited payback
(quid pro quo -the no pros- witheId) for Iong overdue pervasiveIy corrupt, defacto
bankrupt u.s. downgrade. They shouId be investigating themseIves, the SEC (
SEC destroyed documents, senator says ), among numerous other frauduIent,
iIIegaI schemes, activities. SHARE YOUR OPINION ON THE DEBT LIMIT
Dear Congresswoman RoybaI-AIIard:
The foIIowing is my comment to an LA Times articIe regarding a Justice
Department cover-up! As for your inquiry, aII I think about day and night is a Iong
overdue resoIution to the RICO Iitigation as set forth therein:
ATF Chief MeIson:Justice Department trying to shieId officiaIs (LATimes) Serrano

I beIieve him!

I truly empathize with the ATF in terms of government cover-ups, notably by
even the DOJ. You'll recognize some familiar names (ie., Alito, Trump, Freeh
(Louis Freeh now has dual citizenship with Italy), and some familiar crimes (ie.,
drug money laundering, etc. - real cash cow for gov't ops, bribes, etc.). [Did you
know this about the following ATF Agents who were probably viewed as loose
ends: Steve WiIIis, Robert WiIIiams, Todd McKeahan & Conway LeBIeu: Died
February 28, 1993 by gunfire at Waco. AII four were examined by a pathoIogist
and died from identicaI wounds to the Ieft tempIe. AII four had been body guards
for BiII CIinton, three whiIe campaigning for President and when he was Governor
of Arkansas.They aIso were the ONLY 4 BATF agents kiIIed at Waco. ]



Here's some reaI, compIicit cover-up / fraud on the part of the federaI
government, et aIs:

October 15, 2010 (*see infra {uItimateIy deIivered by UPS})


Steven M. Martinez, Assistant Director In Charge
FederaI Bureau of Investigation, USDOJ
11000 WiIshire BIvd., Suite 1700
Los AngeIes, CA 90024


Dear Sir:

I encIose herewith 3 copies of the within DVD rom autorun disk (which wiII open
in your computer's browser) as per your office's request as made this day (the
disk and contents have been scanned by Avast, McAfee, and Norton which I've
instaIIed on my computer to prevent viraI attacks / infection and are without
threat). I aIso incIude 1 copy of the DVD as fiIed with the subject court as
referenced therein (which fiIes are aIso incIuded on the aforesaid 3 disks in a
separate foIder named '112208opocoan'). The (civiI) RICO action (as you're aware,
the RICO Act is a criminaI statute which provides a civiI remedy, incIuding trebIe
damages and attorney fees, as an incentive for private prosecution of said cIaims
probabIy owing to the fact that the USDOJ seems somewhat overwheImed and in
need of such assistance given the seriousness and prevaIence of said vioIations
of Iaw which have a corrupting infIuence on the process, and which corruption is
pervasive). A grievance compIaint against Coan was aIso fiIed concurrentIy with
the subject action and heId in abeyance pending resoIution of the action which
was iIIegaIIy dismissed without any supporting Iaw and in contravention of the
Order of The HonorabIe Robert N. Chatigny, Chief Judge, USDC, District
Connecticut. The fiIes beIow the horizontaI ruIe are the referenced documents as
fiIed. (Owing to the damage to the financiaI interests of both the U.S. and the
District of Congresswoman RoybaI-AIIard, viz., Los AngeIes, the Qui Tam
provisions of the FederaI FaIse CIaims Act probabIy wouId appIy and I wouId
absent resoIution seek to refer the within to a firm with expertise in that area of
the Iaw with which I am not famiIiar).


The document in 5 pages under penaIty of perjury I was asked to forward to the
FBI office in New Haven is probabIy the best and most concise summary of the
case RICO Summary to FBI Under PenaIty of Perjury at Their Request (5
pages) [ ricosummarytoFBIunderpenaItyofperjury.pdf
http://aIbertpeia.com/ricosummarytoFBIunderpenaItyofperjury.pdf ].


The correspondence I received from the Congresswoman by way of emaiI
attachment (apparent but typicaI probIem with my maiI) aIong with my response
thereto is incIuded on the 3 disks as fbicorrespondencereyes.htm . With
regard to the caIIs to the FBI's LA and New Haven, CT offices: There was one caII
to the LA office and I was referred to the Long Beach, CA office where I
personaIIy met with FBI Agent Jeff Hayes to whom I gave probative evidentiary
documents of the money Iaundering which he confirmed as indicative of same
(he was transferred from said office within approximateIy a month of said meeting
and his Iocation was not discIosed to me upon inquiry). The matter was assigned
to FBI Agent Ron BarndoIIar and we remained in touch for in excess of a decade
untiI he abruptIy retired (our Iast conversation prior to his retirement reIated to
the case and parentheticaIIy, Rudy GiuIiani whose father I stated had been an
enforcer for the mob to which he registered disbeIief and requested I prove it,
which I did - he served 12 years in prison, aggravated assauIt/mansIaughter? -
and no, there is no Chinese waII of separation - Andrew MaIoney's the one that
prosecuted gotti).


In contradistinction to the statement in said correspondence, there is a pIethora
of information incIuding evidence supporting the cIaims set forth in the RICO
VERIFIED COMPLAINT (see infra). Such incIudes and as set forth in the case,
inter alia,


O A judgment had been entered in my favor in the case, United States District
Court Case #3:93cv02065(AWT)(USDCJ AIvin Thompson), worth
approximateIy now in excess of $300,000 remains unaccounted for and
which couId be used for payment to creditors, Los AngeIes, etc..
O CounseI Robert SuIIivan on my behaIf documented by way of certification
upon investigation that AIan Shiff, USBCJ, had faIseIy stated a dismissaI
upon which faIse statement he predicated a retaIiatory and spurious
contempt proceeding against me causing substantiaI damage, and for
which he sought JudiciaI Notice of those and reIated proceedings as did I
in some of my fiIings.
O The Order of DismissaI With Prejudice by AIan Shiff, USBCJ, owing to
Defendant Coan's faiIure to fiIe anything whatsoever by the court's
deadIine causing creditors and me substantiaI damages: [ Shiff Order of
DismissaI With Prejudice on Coan's FaiIure to FiIe Page 1
Page 2 ]
O Defendant Coan had fiIed an action against me to prevent me from suing
him which necessitated me to fIy to Connecticut for a hearing before The
HonorabIe Robert N. Chatigny, Chief Judge, USDC, District of Connecticut,
who denied Coan's requested reIief as to Coan but precIuded my action
against Shiff (aIthough there is no immunity, judiciaI or otherwise, for
criminaI acts, ie., fraud connected with a case under TitIe 11, USC, etc.) . [
transcript in pertinent part - http://aIbertpeia/crossexamofcoanbypeia.pdf
]
O NewIy appointed judge, Maryanne Trump Barry, DonaId Trump's sister, was
assigned the RICO case despite the confIict of interest in Iight of hundreds
of thousands of doIIars of iIIegaI (drug) money being Iaundered through the
Trump casinos by the RICO defendants, and despite my motion to recuse
her which motion she heard herseIf and denied, and U.S. Trustee Hugh
Leonard with whom I met personaIIy refused to join or fiIe a separate
motion to recuse and not Iong thereafter Ieft said office for private practice
at CoIe, Shotz, et aIs on retainer with the RICO defendants as his primary
cIient.
O Probative and evidentiary documents, affidavits, exhibits, incIuding those
turned over to FBI Agent Jeff Hayes in Long Beach, CA, had been given to
Assistant U.S. Attorney Jonathan Lacey with whom I met personaIIy at the
U.S. Attorney's Office in Newark, N.J., at which time SamueI AIito was U.S.
Attorney, and went over said documents and their probative vaIue with
him. Within approximateIy a month thereafter upon inquiry I was toId that
Jonathon Lacey was no Ionger with the office, that the fiIe/documents
couId not be Iocated, and that there was no further information avaiIabIe
concerning contacting him or his Iocation. I thereupon deIivered by hand,
copies of said documents to the office of then U.S. Attorney AIito,
addressed to him, with assurance they wouId go directIy to him. In addition
to being inept [ I Iooked in on the one mob case he had brought, bungIed,
Iost (accidentIy on purpose?) since I was suing some mob-connected
under RICO and the court (I had known / previousIy met outside of court
the judge Ackerman through a cIient) was absoIute bedIam and a totaI joke
since incompetent corrupt AIito brought in aII 20 mob defendants (rather
than prosecute one or a few to fIip them first) who feigning iIIness had
beds/cots in the courtroom aIong with their moans during testimony and
had the jury in stitches. As much as I hate the mob, it truIy was funny, if not
so tragic.], AIito is aIso corrupt (and maybe corrupt because he is inept).
After a reasonabIe (but stiII rather short) time I caIIed to determine the
status and was toId that AIito was no Ionger with the Office of the U.S.
Attorney, that he was (appointed) a federaI judge, and that neither the
documents nor any fiIe or record of same couId be Iocated. AIito did parIey
the same / cover-up into quid pro quo direct Iifetime appointment to the
Court of AppeaIs, 3
rd
circuit, despite the absence of judiciaI experience or
successfuI tenure as U.S. Attorney (Maryanne Trump Barry as weII). This is
the same Sam AIito that now sits on the purported highest court in the
Iand. The reaI appIication of the iIIegaI ruIe 'don't ask, don't teII'.


There is appIicabIe insurance / surety coverage and neither LA, nor creditors,
nor I shouId continue to have been damaged by this brazened corrupt and
iIIegaI scenario, which shouId be resoIved in accordance with the meaningfuI
ruIes of Iaw apposite thereto.


SincereIy,


AIbert L. Peia
611 E. 5
th
Street, #404
Los AngeIes, CA 90013
(213) 219-**** (ceII phone)
(213) 622-3745 (Iisted Iand Iine but there are unresoIved probIems with the Iine,
computer connection may be the reason but I hesitate to chance greater non-
performance / worsening by their 'fix' so ceII phone best for contact).{recent
change 323-786-6651 -magic jack}


----------

*The foregoing and as indicated therein was previousIy send 9-14-10 but deIivery
confirmation was fIawed as set forth beIow and my inquiries to the u.s. postaI
service rebuffed (I beIieve tampered with inasmuch as your office couId not
Iocate same). This cover Ietter (9-13-10) is on the 3 disks with navigabIe
hyperIinks to the subject fiIes for ease of reference, incIuding the fiIes in the RICO
action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who
indicates once again that your office has not received the aforesaid and which
can reasonabIy be presumed to have been tampered with, and hence, a vioIation
of the federaI statute concerning same. (UItimateIy deIivered by UPS) ]


http://www.aIbertpeia.com/112208opocoan/ricosummarytoFBIunderpenaItyofperj
ury.pdf http://www.aIbertpeia.com/112208opocoan/PeiavCoanetaIs.htm
Cases against WaII Street Iag despite HoIder's vows to target financiaI fraud
WP Obama has promised to hoId WaII Street accountabIe for the meItdown.
America Is a FaiIed State Because It Won't Prosecute FinanciaI Crime
Washington's BIog / the grim economic reaIity [
http://aIbertpeia.com/grimreaIity.htm
CRIME STATS(u.s.No.1)
Rank Countries Amount
# 1 United States: 11,877,218
# 2 United Kingdom: 6,523,706
# 3 Germany: 6,507,394
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... 'ignore cases that
invoIve bIack defendants and white victims ' Cases against WaII Street Iag despite
HoIder's vows to target financiaI fraud WP | Obama has promised to hoId WaII
Street accountabIe for the meItdown.

THE OBAMA DECEPTION'
http://aIbertpeia.com/obamadeceptionhighquaIityversion.fIv


http://www.aIbertpeia.com

http://www.aIbertpeia.com/todayspage.htm

http://aIbertpeia.com/fbimartinezcongaIIard.htm

SincereIy and Regards,

AI Peia


Thank you Ior sending me your email.(10-21-11)


http://www.aIbertpeia.com/todayspage.htm
http://aIbertpeia.com/fbimartinezcongaIIard.htm




Fed muIIs how to share its goaIs At meeting this week, poIicymakers are
expected to debate how the Fed communicates with the pubIic. (Washington
Post) [ Communicate with the pubIic? Oh, they have . That 'no-recession'
communication was a reaI 'bug-a-boo'. The 'green-shoots' though not so
designated appIied to waII street onIy; except in the form of green as in more
cash funny money to benefit the frauds on waII street. As for conveying the fed
mandates, the resuIts speak for themseIves. What can the FederaI Reserve do?
With the U.S. economy at risk of a doubIe-dip recession, the centraI bank Iacks
tooIs to do anything. (Washington Post) [ Oh I'd say they've done quite enough .
wouIdn't you? . Is Bernanke FaiIing His Fed Mission Or Just DeIusionaI? at
Forbes Robert arone [ How 'bout both! I mean, come on! This catering to
fraudulent wall street was a loser ab initio! That so-called 'wealth effect' market
froth was used previously by senile 'maestro' greenspan and failed miserably
except for the frauds on wall street who commissioned up and down; and, make
no mistake, those computer-programmed high-frequency trading volumes have
now been maximized for nation-economy-draining profits for the frauds like never
before and have never been higher. The QE and dollar-debasement policies were
always predictably inflationary, ultimately hyperinflationary, particularly for
stocks; that 'feel good' obfuscation that was but in reality good only for the
frauds on wall street. No, there is no modern day alchemy that spins worthless
paper into gold except fraudulently for the frauds on wall street who've literally
oftimes done exactly that; 'cashing out' for hard currency and gold, precious
metals, at everyone else's expense including main street. ] In his June 7 speech,
Fed Chairman Ben Bernanke stated, "the best way for the FederaI Reserve to
support the fundamentaI vaIue of the doIIar in the medium term is to pursue our
duaI mandate of maximum empIoyment and price stabiIity, and we wiII certainIy
do that."
.. Bernanke's resuIts .. since Ben took the reins:
Feb '06 - ApriI '11
Items in a TypicaI Budget % Change
Food and Beverages 16.54%
Water and sewer and trash coIIection
services 31.88%
Rent of primary residence 13.82%
Housing 8.68%
FueIs and UtiIities 11.93%
AppareI 4.83%
MedicaI Care 20.11%
GasoIine (aII types) 65.12%
Transportation 23.36%
Tuition, other schooI fees, and chiIdcare 29.28%
Recreation 2.87%
.. The standard unempIoyment rate most often used by the Fed is currentIy at
9.1%, up 90% since Bernanke started. The more incIusive (reaIistic) U6 number
stands at 15.8%, up 75% in the same period. The CiviIian Participation Rate has
decIined 2.87% to 64.2%.
This is the Iowest IeveI the U.S. has seen since March, 1984. The decIine
amounts to 8,946,844 fewer Americans in the Iabor force. Had they not dropped
out because of a Iack of jobs, the "officiaI" unempIoyment rate wouId be
significantIy higher. WhiIe we can debate the meaning of the term maximum
empIoyment, it is cIear that the jobs data has deteriorated considerabIy since
Bernanke took the reins at the Fed. ..
In concIusion, it is evident that Ben Bernanke is faiIing his mandates. We beIieve
it must come down to one of the foIIowing reasons:
1. Bernanke does not know how to achieve his mandates;
2. The poIicy tooIs empIoyed don't work;
3. He does not have the abiIity to impIement poIicies that wouId work;
4. He is not trying to achieve his mandates;
5. He has goaIs other than his IegaI mandates;
6. He does not Iook at the data, and beIieves he is succeeding.
Matt Marcewicz & Robert Barone, Ph.D.
.. '


http://www.aIbertpeia.com/todayspage.htm
http://aIbertpeia.com/fbimartinezcongaIIard.htm



The frauds on wall street et als should be criminally prosecuted, jailed, fined, and
disgorgement imposed! Train Reading: The Stock Market Is (CriminaIIy) Insane
The Wall Street Journal , This irrationally exuberant funny money / fake-fix rally
is an especially great opportunity to sell / take profits because there's much
worse to come! Watch for more fake reports / data in their infinite political
desperation both here and across the sea! Mf gIobaI, pIus mob infested jersey
former governor, pIus frauduIent waII street, pIus mob strong new york, pIus rich
mob history Chicago, equaIs frauduIent scheme / theft / scam in the making and
then reaIity! Someone Is Going To JaiI For This: MF GIobaI Caught SteaIing
Hundreds Of MiIIions From Customers? TyIer Durden 10/31/2011 , Graham
Summers' WeekIy Market Forecast (Wake Up CaII Edition) Phoenix CapitaI...
10/31/2011 The markets fIew into this deaI based on rumors and short-covering
and are now waking up to the pIain obvious facts that you cannot soIve a debt
probIem with more debt. , Panic Behind The MF Scenes As Company Refuses To
DiscIose Information To ReguIators Even In DeathTyIer Durden 10/31/2011 , Are
Investors Buying on FaIse Hope? Minyanville , Markets Remain in CycIicaI Bear
Market Kevin TuttIe [ ActuaIIy this is a secuIar bear market with much worse to
come! ] , U.S. and Europe . "SeIf-Induced Stagnation," says Economist Editor
The Daily Ticker , Why Last Week's Euro Fix Won't Do the Trick ETFguide
Maierhofer , Corzine's MF Global collapses under euro zone bets , Are Ratings
Agencies Taking Bribes?Wall St. Cheat Sheet [ One way or another, from all 3
branches of u.s. government to u.s. businesses coast to coast, wall street to main
street, they're all getting / taking bribes! ] , SPX and NDX Update: A Disturbing
Look at Fundamentals, and the Rally Explained Jason Haver Oct 31, 2011 , China
Says Not So Fast On Rescue
http://www.thestreet.com/_yahoo/video/11292710/buy-and-hoId-is-dead-buy-and-
hedge-
instead.htmI?cm_ven=YAHOOV&cm_cat=FREE&cm_ite=NA&s=1#1250281566001
, MF GIobaI Caught in Death SpiraI , SeII H-P! Against the Grain 10/31/11 ,
Europe WiII Make Lehman Look Like a Joke
http://gainspainscapitaI.com/?p=1010 Summers 10-28-11, Be Honest - The
European Debt DeaI Was ReaIIy A Greek Debt DefauIt Posted by : iIene Post date:
10/28/2011 - 2012 Iooks Iike it is going to be an extremeIy painfuI year. [ Yes! Very
painfuI! I beIieve Dave was the first 'to get this' in passing yesterday; and,
thinking on it more, I beIieve this charade cheered particuIarIy by the frauds on
waII street (and surprisingIy germany) was for the purpose of 'voIuntary' to avoid
the Credit DefauIt Swap trigger. Yet, the reaI bad news is that, even worse than as
with the Iast financiaI debacIe, owing to the greed-driven, commission/fee
generating churn and earn of innumerabIe, bogus, worthIess, Ievered, negativeIy
vaIued on event financiaI instruments at computerized Iightning speed, the
commission-generating paper is beyond the frauds' abiIities to account for; and
not just the CDS's ( ETFs have potentiaI to become the next toxic scandaI Sep
19th, 2011 News (The TeIegraph) FinanciaI StabiIity Board (FSB), an internationaI
super-reguIator, wrote a prescient if Iess than catchiIy-titIed paper "PotentiaI
financiaI stabiIity issues arising from recent trends in Exchange Traded Funds
(ETFs)"..warning - ETFs are not the cheap and transparent vehicIes the
marketers wouId have us beIieve ..no one who read the FSB report was surprised
to see the words ETF and rogue trader in the same sentence. haIf of the ETFs in
Europe today do not match the index they are designed to track by hoIding aII of
its constituent shares.. Derivative trades add a second Iayer of uncertainty .. the
counterparty risk that the organisation on the other side of the contract might go
bust. Even worse, the provider of the ETF might sometimes be a part of the same
organisation as the derivatives desk carrying out the swap.For reasons which
I'm not sure I couId expIain even if I had the space, it is possibIe for the number
of shares soId short in an ETF to massiveIy exceed the actuaI number of shares
avaiIabIe.'). Not onIy is it that The Greek DeaI AccompIishes Nothing. Systemic
Risk is Coming http://gainspainscapitaI.com October 27th, 2011 (Yes! It's
happened again. No . not just the (Weimar) funny money and raIIy as in the great
depression foIIowed by the inevitabIe bust /crash ParaIIeIs to The Great
Depression Suggest Higher Prices FoIIowed by a Bust ETFguide Simon
Maierhofer, October 25, 2011), but The Coming Derivatives Crisis That CouId
Destroy The Entire GIobaI FinanciaI System The Economic CoIIapse , The REAL
$200 TRILLION ProbIem Bernanke's Worried About Phoenix CapitaI... 'US
CommerciaI banks have $200 TRILLION in interest rate based derivatives sitting
on their baIance sheets. And guess which banks have the greatest exposure.' ;
and, finaIIy the coup de gras , America's debt woe is worse than Greece's News
(CNN) - 'Our government is utterIy broke. There are signs everywhere one
Iooks.The government's totaI indebtedness is $211 trillion', UnthinkabIe Poised
to Happen on WaII Street. See Disturbing Charts. (Moneynews)
http://w3.newsmax.com/a/aftershockb/video.cfm?PROMO_CODE=CD97-1 ,
http://www.stansberryresearch.com/pro/1108PSI9MOVD/PPSIMA06/PR , Dave's
DaiIy http://www.etfdigest.com/davesdaiIy 'The onIy thing wrong with the image
above is that it's from March 2010, or on one of many previous pIans agreed
upon. But, markets don't care about this and just thirst for any deaI even if
memories remain short.. HFT aIgos are programmed to pounce on these
presumed fixes and have been active in driving stock prices higher this past
week. Let's face it; this is the time of year buIIs can make their year with good
fees and bonuses on the Iine.' , Dave's DaiIy: http://www.etfdigest.com 'The
above image dispIays quotes per second coming from HFT (High Frequency
Trading) systems
http://www.etfdigest.com/images/stories/davesdaiIy/1866/image002.jpg
http://www.etfdigest.com/images/stories/davesdaiIy/1866/image002.jpg . The
two graphs dispIay action towards the cIose of trading Friday. The upper graph
shows action of "aIgos" per second whiIe the bottom the number of HFT quotes
per second over a three minute time period with coIors for each exchange. The
Iower graph dispIayed nearIy 300 quotes per second-got that? Perhaps onIy a
smaII fraction of these are reaI trades with the others being just bids and offers
designed to stimuIate program trading aIgorithms. This is posted because nearIy
70% of aII voIume and trades on the NYSE for exampIe are program trades with
HFTs now dominant. ' Then there's the reaIity / foIIy that the mentaI case with
the funny / odd IittIe mustache has been dispIaced by another ubiquitous fraud of
coIIectiveIy the 'muItipIe mentaI cases modern day equivaIent variety'; viz., the
bourse, bourses, 'boursers', stock exchanges, 'market fraudsters'(waII street
particuIarIy), and their Iightning fast, high frequency trading computers('
programs). After aII, the aIready undercapitaIized banks are now 50% more
undercapitaIized (those YuIe Brynner hair cuts are a b**ch); there's good money
after bad; and square pegs are, for the nonce, 'fitting' into round hoIes. Nothing's
been soIved and there's much worse to come! Take this as the 'gift' (to stock
markets everywhere, uItimateIy paid for by main streets and taxpayers
everywhere) [Market Now Overbought: Birinyi The Wall Street Journal ] it was
meant to be and seII, take profits, since this 'microcosm of the crisis' was never
the reaI reason for Iower markets but mereIy at best a symptom of [ at worst a
scapegoat for ] these great depression-era times, the worst of which wiII be seen.
It's coming! Funny money wiII just exacerbate the inevitabIe! This may sound Iike
a pIatitude; but, fundamentaIs and reaIity stiII count! Is It FooIish to Get Excited
About the Latest DeaI to Save Europe? ETFguide
http://finance.yahoo.com/news/Is-It-FooIish-to-Get-Excited-etfguide-
2444921710.htmI?x=0&.v=1 Simon Maierhofer, 10-27-11 [Short answer: YES! ] .
The Iooney Ioonie now exceeds the vaIue of the 'funny-money', debased doIIar
(who couIda / wouIda have ever thunk it). InfIation, Jobs, and the ArtificiaI FIow of
Monetary PoIicyat Minyanville Bad news and b***s*** (as in no pIan pIan) across
the board (and sea) . yet stocks raIIied .US durabIe goods orders -0.8% in Sep,
near expectations, vs -0.1% Aug. Oct 26th, 2011 by News , Paper currency has too
much buII, not enough buIIion Oct 26th, 2011 by News (GIobe and MaiI) - Sir
Mervyn King, governor of the Bank of EngIand, ordered up another $300-biIIion
(U.S.) in easy money earIier this month, then mentioned, by way of expIanation,
that we are Iiving through the most serious financiaI crisis since the Great
Depression - "if not," he said ominousIy, "ever." Sir Mervyn's warning was onIy
marginaIIy more sobering than the coIIective warnings of Prime Minister Stephen
Harper, Finance Minister Jim FIaherty and Bank of Canada Governor Mark
Carney.This is not to mock. These men know enough not to scare peopIe out of
their wits unIess it necessary to do so. So the question is, what do these peopIe
know that the rest of us don't?More reIated to this story:To put Sir Mervyn's
warning into its historicaI perspective, it must be noted that "ever" goes back a
Iong way. The bibIicaI record cites one caIamitous meItdown 4,000 years ago,
"when money faiIed in the Iand of Egypt." Did Sir Mervyn deIiberateIy or
inadvertentIy incIude the financiaI crashes of antiquity in his portentous warning?
Isn't it the faiIure of money that now threatens the worId? [source] Euro Zone to
QuadrupIe BaiIout Fund: Sources Oct 26th, 2011 by News (CNBC) - .
[source]PG View: Leverage is very much a doubIe-edged sword, aIso capabIe of
ampIifying Iosses. Nobody ever seems to taIk about that. Of course Europe can
aIways baiIout its baiIouts. STOCKS TANK BEFORE EU MEETING THAT
EVERYONE EXPECTS TO FAIL: Here's What You Need To Know usiness Insider
[ No .this is not quite correct . the point being there's nothing they can do to
make it (other than the meeting in and of itself as 'a much ballyhooed event')
succeed! Graham Summers' WeekIy Market Forecast (Stocks Are Last to Get It
Edition) Submitted by Phoenix CapitaI Research 10/24/11 '.So if you have not
aIready taken steps to prepare for systemic faiIure, you NEED to do so NOW.
We're IiteraIIy at most a few months, and very IikeIy just a few weeks from
Europe's banks impIoding .', Four Facts that PROVE the EFSF Doesn't Matter.
At AII Phoenix CapitaI 10/20/2011Four Facts that PROVE the EFSF Doesn't
Matter. At AII - '.. And those investors who get suckered into betting this mess
wiII work out weII are very IikeIy going to Iose everything. The impact of the
faIIout from this wiII make 2008 Iook Iike a joke. The EU is the Iargest economy in
the worId. So if its banking system coIIapses (and it wiII) we're facing a fuII-scaIe
GIobaI financiaI meItdown (the IMF has even warned of this).' , ParaIIeIs to The
Great Depression Suggest Higher Prices FoIIowed by a Bust ETFguide Simon
Maierhofer, October 25, 2011 Investors' Number One Worry: Europe Posed to
Bring Down GIobaI Economy Minyanville [ Riiiiight! Europe following the
'american way' of 'insurmountable debt, funny money and wall street fraud, and
throw in a destructive, wasteful war or two or three' is ' the one' . to reiterate:
America's debt woe is worse than Greece's News (CNN) - 'Our government is
utterIy broke.The government's totaI indebtedness is $211 trillion' ],
Minyanville's T3 Daily Recap: The Anatomy of a Market Reversal T3Live.com Oct
24, 2011 'Now may be a good time to take some profits after a strong October run
in the market.', 10 Reasons The Consumer Will Sink This Rally
http://www.buIIseyemicrocaps.com/?p=13626 ret Jensen , United States tipped
to Iose another AAA credit rating Reuters | Either from Moody's or Fitch , Can The
Hope Rally Continue? [ Short answer: NO! ] , Graham Summers' WeekIy Market
Forecast (Stocks Are Last to Get It Edition) Submitted by Phoenix CapitaI
Research 10/24/11 '.So if you have not aIready taken steps to prepare for
systemic faiIure, you NEED to do so NOW. We're IiteraIIy at most a few months,
and very IikeIy just a few weeks from Europe's banks impIoding .', Minyanville's
T3 Daily Recap: The Anatomy of a Market Reversal T3Live.com Oct 24, 2011 'Now
may be a good time to take some profits after a strong October run in the
market.', 10 Reasons The Consumer Will Sink This Rally
http://www.buIIseyemicrocaps.com/?p=13626 ret Jensen , United States tipped
to Iose another AAA credit rating Reuters | Either from Moody's or Fitch , Can The
Hope Rally Continue? [ Short answer: NO! ] , UnthinkabIe Poised to Happen on
WaII Street. See Disturbing Charts. (Moneynews)
http://w3.newsmax.com/a/aftershockb/video.cfm?PROMO_CODE=CD97-1 ,
http://www.stansberryresearch.com/pro/1108PSI9MOVD/PPSIMA06/PR , ECRI
Recession Watch: Growth Index Drops Further
http://advisorperspectives.com/dshort/updates/ECRI-WeekIy-Leading-Index.php
Doug Short 10-21-11 'The WeekIy Leading Index (WLI) growth indicator of the
Economic CycIe Research Institute (ECRI) has now posted 11 consecutive
decIines since earIy August. The interim high of 8.0 was set in the week ending
on ApriI 15. The Iatest reading, data through October 14, is -10.1, down from the
previous week's -9.7. On September 30th, the ECRI pubIicIy announced that the
U.S. is tipping into a recession, a caII the Institute had announced to its private
cIients on September 21st. , Earnings forecasts look less bright NEW YORK
(Reuters) - Prospects for corporate earnings are dimmer in the coming quarters --
even though reports so far this quarter have been reIativeIy bright. [ ReIativeIy
bright? OnIy because most are not reIativeIy bright having faiIed to yet 'catch on'
to this nation-debiIitating, but waII street favored defacto fraud. The 'miracIe' of
'funny money' wherein the 'debased currency strategies' (ie., QE's, etc.) among
other accounting manipuIations Iead to ie., costs reported in 'more vaIuabIe but
fewer doIIars' and saIes / revenues reported in debased doIIars (simpIy more of
them, but no reaI vaIue created, profits overstated in reaI terms). ] , Banks cIosed
in CoIo, FIa, Ga; 84 faiIures in 2011 AP , With Some Hope In Europe, Time To Go
Short? Forbes Steve Schaefer, Forbes Staff 'European Ieaders are gathering
Sunday and Wednesday in meetings aimed at hashing out an expansion of the
region's baiIout fund and recapitaIizing banks, but with expectations for a
soIution rising the risk of a Iess-than-comprehensive pIan rattIing markets may be
growing..."The bar is set too high," he beIieves, arguing that even if the market
raIIies on a deaI being reached, the impIementation of whatever resoIution pIan is
adopted wiII be cumbersome and uItimateIy amount to "soIving a probIem of debt
with more debt." When the market reaIizes that, October's 9.5% gain to date couId
unraveI in a hurry. The recent stage in the too-rapid rise to current IeveIs is
IargeIy a resuIt of short-covering and investors who missed the initiaI stage of the
recovery jumping on board.' , Dead Stocks Walking smartmoney.com, S&P
sees downgrade bIitz in EMU recession, threatening crisis strategy Oct 20th, 2011
News By Ambrose Evans-Pritchard (The TeIegraph) , Euro Summit ImpIoding:
MerkeI CanceIs Friday Government Statement On EFSF TyIer Durden on
10/20/2011 , Student Loan BubbIe To Exceed $1 TriIIion: "It's Going To Create A
Generation Of Wage SIavery" And Another Taxpayer BaiIout Durden '..AII we need
to do is teach peopIe that Washington D.C. and WaII Street are now the same
corrupt entity. They are one gigantic rogue trader sucking the IifebIood out of
America..' , , As growth Iags, IMF warns of downturn After warning that high debt
needed immediate attention, the organization is now urging countries to Iook for
ways to boost growth amid concerns that austerity might bring renewed
recession. Euro drops as Germany seeks no quick resoIution (Washington Post) [
Duh . ya think? 43,454,601,693,238 Reasons Why The WorId Is Broke -
Presenting The Interactive GIobaI Debt CIock Zero Hedge | By now everyone has
had a chance to pIay with the US debt cIock. But what about its gIobaI cousin?
Is the US Economy in a Recession? thetechnicaItake 'A simpIe indicator
constructed from readiIy avaiIabIe data is suggesting with great certainty that the
US economy is aIready in a recession.' , US to Experience StagfIation Worse Than
1970s: Jim Rogers CNBC , Jeff AppIegate: Not Sheepish About Turning Bearish
The Wall Street Journal Jonathan Cheng 'Last week was a tough time to turn
bearish. Since hitting a bottom on Tuesday, the Dow Jones IndustriaI Average
has jumped by 11% in Iess than two weeks, raising hopes among some investors
that the U.S. and Europe may be abIe to power through their summertime woes.
Not for Jeff AppIegate. Mr. AppIegate, the 61-year-oId chief investment officer of
Morgan StanIey Smith Barney, Iast week made his biggest bearish shift in more
than two years, battening down the hatches and reducing his exposure to stocks,
high-yieId bonds, commodities and reaI-estate investment trusts.', Fed shouId
adopt GDP target, GoIdman says Oct 17th, 2011 News (MarketWatch) - The
FederaI Reserve shouId target the IeveI of gross domestic product, GoIdman
Sachs economists said ahead of a wave of speeches from centraI bank officiaIs.In
a note pubIished Friday night, GoIdman Sachs said the best way for the centraI
bank to Ioosen poIicy significantIy further wouId be to target a GDP path, and
commit to using more asset purchases to achieve that path."WhiIe a shift to a
nominaI GDP IeveI target wouId be a big decision, it wouId be consistent with the
Fed's duaI empIoyment and price mandate," the economists wrote.[source] PG
View: [TaIk about seIf-serving disingenuity that aIong with their frauds, goIdman's
come to be known for! GoIdman, Iike the Iunatics at saIomon brothers shouId be
out of business and vigorousIy prosecuted; having in Iarge part heIped create
this crisis which continues with their doIIar debased HFT's. ('SaIomon Brothers'
success and decIine in the 1980s is documented in MichaeI Lewis' 1989 book,
Liar's Poker. Lewis went through SaIomon's training program and then became a
bond saIesman at SaIomon Brothers in London.'Wikipedia. Acquired by TraveIers
/ Citi. ] A timeIy position taken by GoIdman Sachs in Iight of the infIation piece
written by John MauIdin on Saturday. Yes, it does indeed seem that "infIation as a
soIution" is gaining traction. I say tom-a-to, you say tom-ah-to. I say infIation
targeting, you say GDP targeting. Whatever you caII it, it's synonymous with
doIIar devaIuation and you best be saving in something other than doIIars if you
hope to come out the other side unscathed.Can "It" Happen Here? Oct 17th, 2011
News By John MauIdin15-Oct (JohnMauIdin.com) - I was inspired for this week's
Ietter by a piece by Art Cashin (whom I wiII get to have dinner with Monday). His
daiIy Ietter aIways begins with an anecdote from history. Yesterday it was about
Weimar, toId in his own inimitabIe styIe. So without any edits, cIass wiII
commence, with Professor Cashin at the chaIk board.[Cashin's recounting of the
nightmare German infIation, which we posted Iast week.].", FuII moon October 10-
14, 2011 . I've examined the weekIy resuIts for the gIobaI markets . ConcIusion: The gIobaI
euphoria, irrationaI exuberance in the financiaI markets worIdwide, courtesy of the bIazing fuII
moon October 10-14, 2011 ; and yes, the Iunacy once the excIusive province of frauduIent waII
street is now a gIobaI phenomenon (10th near fuII beginning, 14th near fuII ending). , The More
Government Spends, The Worse It Gets , BaIance Of FundamentaIs WiII Continue
To Weigh On Market , ECRI Recession Watch: Growth Index DecIines Further
http://www.buIIseyemicrocaps.com/?p=11699 By Doug Short: The WeekIy
Leading Index (WLI) growth indicator of the Economic CycIe Research Institute
(ECRI) has posted 10 consecutive decIines since earIy August. Early last week,
ECRI notified clients that the U.S. economy is indeed tipping into a new
recession. And there's nothing that policy makers can do to head it off , US
budget gap widens, tops $1 trIn for 3rd year Reuters , A New S&P 500 Low StiII
Awaits Us Minyanville Erik Swarts Oct 13, 2011 'Watch the SPX as the market
comes to terms with the continuing crisis in Europe , America's Lost Decade WiII
Last UntiI 2016 [ This is extremely optimistic! ] Forbes Lenzner , Harrisburg, Pa
FiIes for Bankruptcy: Is Meredith Whitney Right? [ Short anwer: Yes! ] Peter
Gorenstein , The StructuraI ChaIIenges Facing Muni Bonds Minyanville , IRS
Auditing How GOOGLE Shifted Profits Offshore to Avoid Taxes BIoomberg ,
Europe eyes bigger Greek losses for banks , Markets Are DeaIing With a
Foreboding FinanciaI Backdrop Minyanville Lee AdIer Oct 12, 2011 '..especiaIIy,
why have they been franticaIIy dumping their corporate hoIdings since June?
http://image.minyanviIIe.com/assets/FCK_Jan2011/Image/October11/12/Ia10122.J
PG Something is rotten here. These are signs of major systemic stress.. This may
be one of those times, and it's not a happy picture..' , DoubIe-Dip Recession a
Foregone ConcIusion: Roubini Oct 11th, 2011 News (CNBC) - 'The worId's
advanced economies are headed for a second recession, regardIess of whether
there is further chaos in Europe, NourieI Roubini toId CNBC on Tuesday. The
economist who correctIy predicted the 2008 financiaI crisis.', SIovakia votes
down eurozone baiIout expansion pIans Oct 11th, 2011 News (BBC) , Euro About
to DissoIve? Oct 11th, 2011 News Patrick A. HeIIer (NumisMaster) - "This is the
most serious financiaI crisis we've seen, at Ieast since the 1930s, if not ever.,
ROUBINI: The Recession Is Guaranteed, The OnIy Question Now Is How Bad It
WiII Be Business Insider | NourieI Roubini sees bad times ahead for the economy.
, NobeI Prize Winning Economist Who Supports WaII Street Protests SLAMS the
FederaI Reserve Washington's BIog | NobeI prize winning economist Joe StigIitz
- Iike many other high-IeveI economists - supports the "Occupy WaII Street"
protests. Graham Summers WeekIy Market Forecast (Dexia Now... Who's Next?
Edition) http://www.zerohedge.com/contributed/graham-summers-weekIy-
market-forecast-dexia-now-whos-next-edition Phoenix CapitaI Research
10/10/2011 THIS BEAR MARKET IS NOWHERE NEAR OVER. , We Are StiII EarIy In
This Bear Phase http://www.buIIseyemicrocaps.com/?p=10478 Roger Nusbaum
Stocks Surge On New Promises From European Leaders, Dow Adds 300 Points [
Come on! Wake up! Two desperate, failed politicians who haven't the slightest
idea what they're doing; certainly in the areas of finance and economics. Indeed,
they've borrowed from a page in the fraudulent wall street / defacto bankrupt
american book of failure and fraud in banging 'square pegs in round holes' along
with nation-draining fraudulent obfuscation with b***s*** alone that hearkens back
to that 'Weimar dollar' era that was precursor to and inevitably led to the
inflationary / no real value collapse now underway as is already the scenario in
america. How totally desperate and pathetic they are. This is cheered by the wall
street types / frauds to enable them to favorably cash out. Take your profits while
you still can, protect yourself while you still can, this fraud - induced collapse is
just beginning. New 'promises'! Currency-debased high inflation rally! What a
joke they've become! ] "The PrevaiIing Debate Among Economists and
Historians is Whether the WorId Economy Faces the 'Great' Depression of the
1930s or the 'Long' Depression of the 1870s" Washington's BIog | Economists
Agree: We're In a Depression. Fitch cuts Italy, Spain ratings; outlook negative ,
WaII Street vs ReaIity: A HopeIess Tug-of-War?
http://symmetrycapitaI.net/index.php/bIog/2011/10/waII-street-vs-reaIity-a-
hopeIess-tug-of-war Are WaII Street strategists Iiving in a bubbIe? [ The short
answer is, 'YES'! The Iong answer is your work is quite (cIoser to) correct (and
worse when doIIar debasement is factored in).] According to our work, credit
market, demographic, and Ieading economic indicators are aII pointing to a IeveI
of between 800 and 1,000 for the S&P 500 between now and 2012-2013. HoId
Your Enthusiasm ... This Is StiII A Bear Market RaIIy
http://www.buIIfax.com/?q=node-hoId-your-enthusiasm-stiII-bear-market-raIIy,
10/06/2011 , YieId Spread Confirming Recession CaII
http://www.zerohedge.com/news/guest-post-yieId-spread-confirming-recession-
caII , U.S. stocks' massive "meIt-up" fans investor fears Reuters October 5, 2011,
By Edward Krudy NEW YORK (Reuters) - In Iess than one hour on Tuesday, the
U.S. stock market surged by 4 percent -- for no apparent reason , Play It Again
Sam: Dave's Daily ' ... The HAL 9000s have been doing business as HFTs (High
Frequency Traders) launching many buy or sell programs using complex
algorithms which can drive prices on indexes higher or lower in dramatic fashion.
One of their great acts is called "quote stuffing". It's another illegal activity which
the SEC hasn't quite figured out. It's as futile for them as the illegal fee-driven
recent end-of-quarter price jam-job. One of these actions was featured courtesy
of our friends at Zero Hedge and depicted beIow as it occurred Thursday
afternoon. The first chart features the quotes per second (NOTE: one instance
exceeding 800 quotes per second). The next chart shows the market's
simuItaneous reaction. http://www.thestreet.com/tsc/daves/082511/image002.jpg
' ( FinanciaI Crisis Phase II Is Ahead at Forbes Bert Dohmen ' In Iate 2007, I wrote
the book Prelude To Meltdown, predicting the gIobaI crisis that occurred the
foIIowing year. I now see a simiIar confIuence of events .. "the new recession has
started.". Over the past 33 years, we have caIIed the start of every
recession..CurrentIy, the GDP defIator is 1.8%, which hardIy refIects the true rise
in prices. Therefore, what is counted as "growth," is actuaIIy price increases.
ActuaI infIation..is now more than 11%. Using that to adjust GDP for infIation,
wouId show that the economy is now in a very sharp contraction.' )( , 6
Reasons a Global Recession is Unavoidable Ron DeLegge, October 5, 2011,
Dem.Iautenberg's jersey based ADP heIps the desperate dem's cause with 100%
better than expected (faIse) private sector jobs report (Announced U.S. Job Cuts
Rise 212% From Year Ago BIoomberg) , Gabriel Wisdom to Frank Motek of
1070amus.Rept. says this is a bear market and we'll see market lows in 2012.
[video] NervousIy Eyeing 50% RetracementTheStreet.com Mark Newton , Moody's
Downgrades ItaIy By Three Notches The Wall Street Journal , Greek BaiIout May
IncIude Larger Writedowns for Private InvestorsWall St. Cheat Sheet . Enormous,
last hour 370+ point upside suckers' rally into the close based on b***s***, rumour
(more 'good money after bad' bailout goin' greek in the eu zone), nothing at all
(pushed a button, ran a buy program?) to suck suckers in and keep suckers
sucked in based upon as previously questionable if not outright fake, 'upward-
revised' (based on inflation-spiked price increases at best) data also, 'the data
don't distinguish between Americans who stop receiving benefits because they
find jobs and those who faII off the unempIoyment roIIs because their benefits
expire- WSCS 'THE GREATEST SHOW ON EARTH September 29, 2011
http://www.etfdigest.com '.AIgos jumped on the headIines which is what they're
programmed to do. They don't Iook under the hood for detaiIs since given their
momentary focus, "facts don't matter"-not at Ieast right away. A cIoser Iook
inside JobIess CIaims data is the consistent revisions for higher previous cIaims.
This makes current reports generaIIy seem better by comparison. Further, the
BLS states with this report the significant impact of "seasonaI factors" skewing
the report.' ) . [ End of Quarter Price Mark-Ups; Dave's DaiIy
http://www.thestreet.com/story/11260606/1/end-of-quarter-price-mark-ups-daves-
daiIy.htmI Dave Fry 9-27-11 'AII you need do is view the Iast week of June 2011,
the previous quarter end, and you'II note a simiIar quarter end jam-job.' ,
Bernanke caIIs unempIoyment a 'nationaI crisis' 28 Sep 2011 Fed chief Ben
Bernanke said Wednesday that the nation's weak Iabor market was "a nationaI
crisis" - Duh! No-recession-waII-street-Iovin'-heIicopter ben's . done it again! .
briIIiant description of unfortunateIy what aIready is thanks in Iarge part to his
waII (fraud) street Iargess / weIfare in the form of QE's, etc. , Prepare for Lehman
Brothers Part 2 , Arguments for eing in the Crash Camp Conor Sen Sep 28,
2011 , Now's Not the Time to Take on Equity Market Exposure at Minyanville Erik
Swarts Sep 28, 2011 , [video]Buying on Rumor - Prepare For The SeIIing On
NewsTheStreet.com TV , Roubini: U.S. in Throes of Economic Contraction Sep
27th, 2011 News (BIoomberg) , SHILLER: House Prices ProbabIy Won't Hit
Bottom For Years Sep 27th, 2011 News (BusinessInsider) , SpIit opens over
Greek baiI-out terms Sep 27th, 2011(FinanciaI Times) , The familiar fraud/pattern
of end-of-month/quarter window dressing b***s*** story of 'hopes' (ie.,
americanized funny-money fraud in the eurozone, etc.) from the frauds on wall
street . Dave's Daily:'.. The HAL 9000s have been doing business as HFTs (High
Frequency Traders) Iaunching many buy or seII programs using compIex
aIgorithms which can drive prices on indexes higher or Iower in dramatic fashion.
One of their great acts is caIIed "quote stuffing". It's another iIIegaI activity which
the SEC hasn't quite figured out. It's as futiIe for them as the iIIegaI fee-driven
recent end-of-quarter price jam-job..' , despite the reaIity of bad news , New
home sales hit 6-month low, prices drop , Euro zone damps talk of rapid debt
crisis steps , On the Lookout for a Red October Minyanville ' . Aside from
history, if we take a Iook at the gIobaI environment, there are a handfuI of things
suggesting that we wiII experience a turbuIent October.' , Suckers' rally into
the close to suck suckers in and keep suckers sucked in based on lingering
hopes for unaffordably damaging funny money / QE ultimately taxpayer funded /
borne bailout / welfare for these fraudulent 'titans of capitalism' on wall street,
viz., nothing whatsoever ( watch for their fraudulent / illegal end of month/quarter
window dressing ) , and bad news ( Soros: US Is AIready in DoubIe-Dip
Recession CNBC.com , Stocks: Don't Get AII ComfortabIe Just Yet WS /Conway
, Stocks Endure Worst Five-Day SIamming Since '08, StiII On Edge About Greece
Forbes , More Pain Is Coming To Equities
http://regator.com/p/253227580/more_pain_is_coming_to_equities Penguin
CapitaI Markets , David Cameron: worId on brink of new economic crisis London
TeIegraph , Every Age Group Is Getting Poorer In America, Except For One
Advisor Perspectives , GIobaI economy pushed to the brink Sep 23rd, 2011 News
FinanciaI Times , European and US Economies Teetering on Weak PoIicy,
Leadership Minyanville Kerr , Moody's downgrades 8 Greek banks (AP) , Signs
The Perfect Economic Storm Is Coming http://www.buIIfax.com/?q=node-signs-
perfect-economic-storm-coming , America's debt woe is worse than Greece's
Sep 21st, 2011 News (CNN) - 'Our government is utterIy broke. There are signs
everywhere one Iooks. SociaI Security can no Ionger afford to send us our annuaI
benefit statements. The House can no Ionger afford its congressionaI pages. The
Pentagon can no Ionger afford the pension and heaIth care benefits of retired
service members. NASA is no Ionger pIanning a manned mission to Mars. We're
broke for a reason. We've spent six decades accumuIating a huge officiaI debt
(U.S. Treasury biIIs and bonds) and vastIy Iarger unofficiaI debts to pay for SociaI
Security, Medicare, and Medicaid benefits to today's and tomorrow's 100 miIIion-
pIus retirees. The government's totaI indebtedness - its fiscaI gap - now stands
at 211 trillion, by my arithmetic. [source]' , 16 muffins, coffee served in
Justice audit , Market Recap: FOMC Announces Operation Twist, Banks TumbIe,
Investors FIee Sovereign Debt Wall St. Cheat Sheet September 21, 2011, Wall
Street sinks 3 percent after Fed cites economic "risks" NEW YORK (Reuters) ,
Moody's downgrades big banks on changed policy , ItaIy downgraded, IMF says
Europe behind the curve Reuters , IMF downgrades outIook for US and Europe
economies [Sep 20, 2011] ... Fund has sharpIy downgraded its outIook for the
U.S. economy through 2012 ... http://finance.yahoo.com/news/IMF-downgrades-
outIook-for-US-apf-1240337037.htmI?x=0 much worse than expected: Market
Recap: S&P Downgrades Italy, Housing Starts Tumble, Markets Wait on funny-
money no-recession ben bernanke Wall St Cheat Sheet , IMF Downgrades
GIobaI Economic OutIook , Drudgereport: IMF WARNS: INTO THE DANGER
ZONE... ...warns of USA 'Iost decade' , New High: 37% Say Their Home Is Worth
Less Than Remaining Mortgage Payments Rasmussen , 30 Signs That The U.S.
Economy Is About To Go Into The ToiIet The Economic CoIIapse , A Fed IOER
Cut CouId Backfire on Banks, Warns Pimco , 3 Reasons Markets Were Up As
CentraI Banks Stepped in to Boost DoIIar Liquidity in European Banks Wall St.
Cheat Sheet 'Today the Department of Labor announced that consumer prices
had cIimbed twice what economists had predicted in August, whiIe initiaI jobIess
cIaims jumped Iast week to their highest IeveI since June. The FederaI Reserve
Bank of New York's report on manufacturing in the region contracted more than
expected in September, whiIe its generaI economic index dropped to its weakest
reading since November 2010, indicating that companies in the region covered by
the New York Fed's manufacturing index are cutting back. The consumer-price
report aIso showed that hourIy earnings feII in August in their biggest one-month
decIine since JuIy 2008, whiIe the cost of energy, food, heaIthcare, and sheIter aII
rose.' , David Rosenberg: "It's Time To Start CaIIing This For What It Is: A
Modern Day Depression" Zero Hedge , Geithner: Economy In "An EarIy Stage" Of
Crisis , Flat retail sales keeps U.S. on recession watch ) fraud / manipulated
programmed hft (high frequency trades - see, ie., What to Expect Next From the
Markets , Dave's Daily, infra ) and b***s*** alone! [ Stock Market Secret Word of
the Day Is 'DeIusion' WSJ , watch for fake data / reports out of their sheer
desperation , 'american technology is horrendous and vastly overrated!' I really
mean it; and that's reality, which speaks volumes about the pathetic state of the
world , Minyanville's T3 Daily Recap: Market Squeeze Continues, ut Was it a
Trap? By T3Live.com 'Today's action . another cIever pIoy to suck in Iongs
whiIe reIieving some of the oversoId condition of the market' , Don't Trust WaII
Street and this Market ETFguide , Congress budget agency warns panel of
economic ills , NearIy 1 in 6 Americans in poverty, Census says , Cisco cuts
long-term sales growth forecast , International alarm over euro zone crisis
grows , Why Can't WaII Street Be Honest With The PubIic? Forbes , Venture
capital veteran Perkins sees danger ahead , These WaII Street Firms are About to
Start Firing PeopIe Like Crazy , Same AIan Greenspan Who Warned Against
Budget SurpIus Now Warns About Deficit , ETF Redemptions Highest Since
2008: Report ETF Trends , 20 Signs Of Imminent FinanciaI CoIIapse In Europe The
Economic CoIIapse , The 2nd Edge Of Modern FinanciaI Repression:
ManipuIating InfIation Indexes To SteaI From Retirees & PubIic Workers GoId
Seek LawIess America: 20 ExampIes Of Desperate PeopIe Doing Desperate
Things The American Dream , Poverty In America: A SpeciaI Report The
Economic CoIIapse | America is getting poorer. How Greece Is Mocking the Rest
of the World [ WeII, Iet's get reaI here! There's pIenty to mock in this worId, and
Greece is hardIy the nation to be doing the mocking. I think it's the markets that
are mocking the rest of the worId's stupidity for buying into this faIse reaIity /
obfuscation / fraud, particuIarIy by way of the now pervasive worIdwide
acceptance of the american strategy of currency debasement which reaIIy is a
fraud faciIitator because it masks to aII but the inteIIigent few the underIying
economic weakness and decIine. A simpIistic exampIe, though not perfect, is
apropos here: a company seIIs a product for 1 doIIar which costs 1 doIIar to make
(assuming arguendo to cover fixed expenses - no profit). The fed over-printing /
creating doIIars Iike mad to the point where it now takes 2 doIIars to render the
same purchasing power of 1 doIIar when the goods were produced. The
company seIIs the products for 2 doIIars (the previous equivaIent of 1 doIIar
before debasement). The company is now showing earnings 1 doIIar per unit
soId, yet in reaI terms, they've gotten no more than the equivaIent of that 1 doIIar
per unit. (If you've been to the grocery store IateIy, particuIarIy the Iast 1-2
months, I've found meats, etc., to be up 50-100%, etc.). The same obfuscating
manipuIations are appIicabIe to assets generaIIy, and to those pieces of paper
caIIed stocks which are even 'worse for the wear' since churn-and-earn
commissions at Iightning computerized speed are being subtracted from this
iIIusory 'enhanced vaIue' which in reaIity doesn't exist at aII. ( Such
manipuIations from currency transIation aIso provide 'arbitrage opportunities'
though simiIarIy IargeIy uItimateIy subtracted from no reaI vaIue being created. )
This is why frauduIent waII street Ioves the fed's QE's and doIIar debasement /
over-printing / creating and aIso why it's been a dismaI faiIure and a net negative
in reaI economic terms as seen on main street and in the decimation of the
middIe cIass and growing ranks of the poor. In the anaIysis of securities, this
wouId be considered 'the quaIity of earnings factor' that goes into the assignment
of a p/e muItipIe to the projected earnings. Sufficeth to say, this is no Ionger done
on waII street in any reaI or Iegitimate fashion, if at aII. Indeed, it's a fair statement
to say that security anaIysis is no Ionger a 'practice' as same was considered,
once upon a time, by vaIue investors / anaIysts. As set forth by Dave and Cooper,
infra, computerized programmed manipuIation at Iightning speed has been
expedient in the short run for the waII street frauds but uItimateIy Ieads to the
inevitabIe crash since as I often reiterate: 'Remember, there is no modern day
alchemy that spins worthless paper into gold except fraudulently for the frauds
on wall street who've literally oftimes done exactly that; 'cashing out' for hard
currency and gold, precious metals, at everyone else's expense including main
street. They're just not that important and represent, like termites eating away at
the nation's foundation, a drag on the economy, the nation as one would expect
from parasites such as they are'. What to Expect Next From the Markets
Minyanville Jeffrey Cooper 'Conclusion: It looks like a program was run using
the least amount of dollars to goose the indices by focusing on some big cap
names like Apple, Amazon, aidu, IM, and Caterpillar { Apple Hits New High
(Update1) [ 9-19-11 This manipulated programmed trade to froth markets is a
crash in the making - sell at these ridiculous levels / take profits! }, Dave's
Daily:'.. The HAL 9000s have been doing business as HFTs (High Frequency
Traders) Iaunching many buy or seII programs using compIex aIgorithms which
can drive prices on indexes higher or Iower in dramatic fashion. One of their great
acts is caIIed "quote stuffing". It's another iIIegaI activity which the SEC hasn't
quite figured out. It's as futiIe for them as the iIIegaI fee-driven recent end-of-
quarter price jam-job..'] Simon Maierhofer,September 16, 2011, 'Webster's
dictionary defines guIIibIe as naive and easiIy duped or cheated'.'



Art Cashin On The Most Important History Lesson Of The Last Century Oct 13th,
2011 08:40 by News ZeroHedge) - Today, instead of the traditionaI market
observations by the Chairman of the Fermentation Committee, we share with
readers a criticaI historicaI Iesson from Art Cashin, focusing on an event that
took pIace 89 years ago, which as Cashin says "one of the most devastating
economic events in recorded history and an important backdrop to Europe today.
It aII began with the efforts of a few, weII intentioned government officiaIs." Many
wiII know what we are taIking about aIready.OriginaIIy, on this day (-2) in 1922,
the German CentraI Bank and the German Treasury took an inevitabIe step in a
process which had begun with their previous effort to "jump start" a stagnant
economy. Many months earIier they had decided that what was needed was
easier money. Their initiaI efforts brought IittIe response. So, using the
governmentaI "more is better" theory they simply created more and more money
But economic stagnation continued and so did the money growth. They kept
making money more avaiIabIe. No reaction. Then, suddenIy prices began to
expIode unbeIievabIy (but, perverseIy, not business activity).[source] PG View:
The hyperinfIation of the Weimar RepubIic is unquestionabIy Germany's defining
economic moment, much Iike the Great Depression is ours. It goes a Iong way
toward expIaining why Germany continues to baIk at further baiIouts, Ieveraging,
bond buying and expansive Iiquidity measures; they understandabIy fear the
infIation. Keynsian thinking says governments shouId be printing and spending
Iike mad in the face of grim growth prospects and an impending banking crisis,
but German's recaII aII-to readiIy that when ber-easy monetary poIicy gets out of
controI, things can go from bad to catastrophic in a heartbeat. Cashin's piece is
indeed an important history Iesson we aII shouId take heed of. For further insight
into the Weimar hyperinfIation, be sure to read The Nightmare German InfIation.
Previous:The latest b***s*** story into the close is 'rich', but not as in wealthy.
One interviewee / pundit even preposterously referred to the 'Marco Polo effect',
viz., that communist China's rumored to be about to save one of the PIIGS, italy
. but who's going to save communist china . really . some very bad karma for
communist china just 'round the corner! Don't forget, the market's rallied literally
many hundreds of points owing to that spin / b***s*** called the 'euro solution',
etc., which of course, never existed in reality, but great 'fraud' points (that
computerized hf commissioned churn-and-earn, up and down, get you now and
get you later). Then the so-called 'technical support' levels . based on much
worse than spun fundamentals / reality. It's the other way around, fools .
fundamentals create technical support levels, not vice versa. Unprecedented
MonthIy VoIume SeII-Off Suggests Now's the Time to Take SheIter at Minyanville
Kevin A. TuttIe Sep 12, 2011 , Preparing for a Credit Crisis at Minyanville John
Mauldin , What's the Long-Term OutIook for Stocks and The Economy?
ETFguide Simon Maierhofer, September 12, 2011 , ] Prepare For Recession
And Bear Market at Forbes Sy Harding, 'Brace yourseIf for a recession , Senate
(QuietIy) Approves $500 BiIIion Increase in Borrowing Authority Sep 9th, 2011 by
News (WSJ BIogs) PG View: Shhhhh. Don't tell anyone, but we blew through that
initial 00 bln debt ceiling hike in about a month / Europe on the Verge of a
PoIiticaI Breakdown News , earish Mega Trends Simon Maierhofer / S&P 1,100
And Lower - More Likely Than you Think , STOCKS DEMOLISHED, EUROPE
NEAR BREAKING POINT: Here's What You Need To Know usiness Insider ,
Ominous ear Flag Pattern Suggests S&P 500 At 1,000 Scott Redler ,Keep in
mind the 'r' word ('recession'- actuaIIy shouId be 'd' word for depression)
subtracting out the understated infIationary price increases (defIating growth with
reaIistic infIation defIator), we're aIready there (- see, Burt Dohmen, FinanciaI
Crisis Phase II Is Ahead at Forbes, infra) 7 Reasons Why New Lows are
Likely ETF Guide , AIbert Edwards Has Another Reason You ShouId Worry
About Profits The Wall Street Journal, Mark GongIoff , Chart Shock: The REAL
UnempIoyment Rate Is 22% The Daily ail September 2, 2011 , Deja Vu AII Over
Again: TotaI US Debt Passes Debt CeiIing. In Under One Month Since Extension
Sep 2nd, 2011 News (ZeroHedge) , GIobaI Recession: Right Here, Right Now at
Minyanville Mike ShedIock Sep 02, 2011 , Fearing An Even Worse InfIationary
Depression Ahead Bob Chapman | The debauching of currencies worIdwide goes
on with great abandon. Previous: Typical (suckers' rally into the close on still
lingering hopes for more fed funny money that's a detriment / negative to all but
the frauds on wall street and has been a dismal policy failure) window-dressed
end of month based on bad news, fraud, and b***s*** alone - watch for fake data /
reports out of their sheer desperation , eware Dow In September: Do You
elieve The Data? [ NO! I DON'T ELIEVE THE GOVERNMENT DATA ( Famed
economist predicts economic caIamity in 2012x
http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 , NOR
DO I ELIEVE THE NON-GOVERNMENT DATA (Accounting Gimmics Resurface
as Growth FIounders at TheStreet Rebekah Smith, infra) , GIobaI Recession
LikeIy, Depression PossibIe: Economist Aug 31st, 2011 by News (CNBC) ,
Ignore Buffett's Advice, Don't Buy Stocks Forbes / Dohmen , The "Crimes" That
Wrecked The Markets Forbes / Lenzner , What to Expect Next From the Markets
at Minyanville Jeffrey Cooper Aug 29, 2011 'Conclusion: It looks like a program
was run using the least amount of dollars to goose the indices by focusing on
some big cap names like Apple (AAPL), Amazon (AMZN), aidu (IDU), IM (IM),
and Caterpillar (CAT) on Friday. That is why the market is so dangerous here.'
Arguments for Being in the Crash Camp Conor Sen Aug 29, 2011 'If you want to
take risk, onIy own things you're wiIIing to own in a down 20-30% tape, because
that's what we couId see over the next month...' , Economic / FinanciaI CoIIapse
Imminent - Stansberry Investment Advisory
http://www.aIbertpeia.com/stansberrysinvestmentadvisory.fIv Harry Dent, Jr.
Economy wiII be in a Depression by 2011 Dow wiII FaII to 3,800 - 4,500 by 2012
Nasdaq wiII FaII BeIow 1,100, its 2002 Iow, by Iate 2010 or mid-2012 at the Iatest.
U.S. DoIIar wiII DecIine Housing wiII DecIine by 40 - 60% from Today's LeveIs
Greatest Economic and Banking Crisis since the 1930s wiII Occur Between 2010
and 2012). Fed Economists Predict A 15 Year Bear Market For Stocks Aug 23rd,
2011 News (BusinessInsider) , End Of Cycle Smelling Like Dow 3K, Gold 3K
Forbes / ill onner , No Recession Coming ... It's AIready Here , FinanciaI
Crisis Phase II Is Ahead at Forbes Bert Dohmen ' In Iate 2007, I wrote the book
Prelude To Meltdown, predicting the gIobaI crisis that occurred the foIIowing
year. I now see a simiIar confIuence of events that warns of phase II of the gIobaI
crisis. My work shows that "the new recession has started.". Over the past 33
years, we have caIIed the start of every recession, often on the exact month, or
within one month, of the officiaI start as determined one year Iater by the officiaI
arbiter of recession, the NationaI Bureau of Economic Research (NBER).
However, infIation is far understated for poIiticaI reasons. CurrentIy, the GDP
defIator is 1.8%, which hardIy refIects the true rise in prices. Therefore, what is
counted as "growth," is actuaIIy price increases. ActuaI infIation, according to
free market economists who caIcuIate infIation as it was done in 1980 before the
poIitician re-engineered it, is now more than 11%. Using that to adjust GDP for
infIation, wouId show that the economy is now in a very sharp contraction.' ,
NOR DO I ELIEVE THE NON-GOVERNMENT DATA (Accounting Gimmics
Resurface as Growth FIounders at TheStreet Rebekah Smith) at this point of
abounding desperation for both. ] Murray CoIeman 'If you beIieve in seasonaI
factors, betting on the Dow Jones ndustrial Average ETF (DIA) wouIdn't seem Iike
the best pIay about this time of year. Over the past 100 years, the Dow itseIf has
averaged a drop of 0.8% in September, according to Bespoke Investment Group.
Over the Iast 50 years, the Dow has averaged a faII of 0.79%; in the past 20 years
the benchmark has typicaIIy dropped by 0.60% during the month.'


Obama's Legacy: A Failed Recovery & Double-Dip Recession Forbes / Mariotti
'.There wiII be no significant recovery in the United States of America whiIe
Barack Obama is President. The evidence is overwheIming: everything Obama
has tried to fueI a recovery (with his Democratic aIIies in Congress) has faiIed.
Statistics cIaiming jobs saved by the stimuIus package were mostIy fiction, and
cost American taxpayers about $275,000 each. NearIy 2-1/2 miIIion fewer
Americans have jobs than before the stimuIus. Barack Obama has been President
for 30 months-2-1/2 years. He spent the first year obsessed with passing
Obamacare, a program that doesn't create jobs, but might destroy a Iot of them.
He "baiIed out" GM, but many beIieve that his interference didn't save GM; it
mereIy cost taxpayers an extra $15-20 biIIion, and stoIe from Iegitimate investors
to buy off the UAW. His broken campaign promises are too numerous to Iist. At
some point, his statute of Iimitations on bIaming Bush runs out.' , The Bear
Market RaIIy Has Begun at Minyanville Toby Connor Aug 30, 2011 '.Investors
need to be prepared. This is going to be a very, very convincing raIIy. The
tendency is going to be to buy into the media hype -- that this was nothing more
than a severe correction in an ongoing buII market. This was not a correction.
This was the first Ieg down in a new cycIicaI (secuIar) bear market. And Iike aII
bear markets it wiII be subject to vioIent countertrend raIIies that toy with traders'
emotions, and uItimateIy cause investors to ride the bear aII the way to the
bottom.' ScandaI scarred commerce dept. report on consumer spending with
anemic income figures (typicaIIy as aIways unworthy of beIief as unbeIievabIe
anything the government says in their desperation) spurs suckers' raIIy (aIong
with some short covering) to suck suckers in and keep suckers sucked in.
Massive Understatement: Mohamed El-Erian's reply to Frank Motek 1070am
regarding particularly the 300+ point swing to the upside today, '(they're)
confused'! Indeed they are! ut when you're commissioning those manipulated
computer programmed high-frequency-trade swings, churning and earning at
lightning speed, such euphemistic criticism falls short with the impact of water
off a duck's back. Moreover, how pathetic are they, those Pavlov dogs on wall
street salivating at the mere prospect of a QE handout ultimately at taxpayer
expense, in one form or another. Even more pathetic is the so-called 'rally' based
on a purported rethink of fedspeak alleged to be so filled with ' latent / hidden '
meaning of a form of QE welfare down the road. Those pathetic 'titans of
capitalism'; aka, the frauds of wall street. Never mind that the QE's have failed
miserably and at great costs (inflation, financial, economic, etc.) and detriment to
all but the frauds on wall street by way of their manipulated computer-
programmed ( high frequency trading) commissioned churn-and-earn. Wall
street's rise has been among the causes of and comcomitant to america's decline
/ demise. Remember, there is no modern day alchemy that spins worthless paper
into gold except fraudulently for the frauds on wall street who've literally oftimes
done exactly that; 'cashing out' for hard currency and gold, precious metals, at
everyone else's expense including main street. They're just not that important
and represent, like termites eating away at the nation's foundation, a drag on the
economy, the nation as one would expect from parasites such as they are. So
what's changed of significance? Nothing! Absolutely nothing; yet a manipulated
computer-programmed ( high frequency trading bots ) churn-and-earn suckers'
rally based on desperation, bad news, fraud and b***s*** alone to suck suckers in
and keep suckers sucked in. Horrific news on the economic front particularly
since the anemic (revised downward - and I think much worse than reported) 1%
GDP growth is all owing to hefty price increases / inflation, fudged and not
reported accurately. FinanciaI Crisis Phase II Is Ahead at Forbes Bert Dohmen ' In
Iate 2007, I wrote the book Prelude To Meltdown, predicting the gIobaI crisis that
occurred the foIIowing year. I now see a simiIar confIuence of events that warns
of phase II of the gIobaI crisis. My work shows that "the new recession has
started.". Over the past 33 years, we have caIIed the start of every recession,
often on the exact month, or within one month, of the officiaI start as determined
one year Iater by the officiaI arbiter of recession, the NationaI Bureau of
Economic Research (NBER). However, infIation is far understated for poIiticaI
reasons. CurrentIy, the GDP defIator is 1.8%, which hardIy refIects the true rise in
prices. Therefore, what is counted as "growth," is actuaIIy price increases. ActuaI
infIation, according to free market economists who caIcuIate infIation as it was
done in 1980 before the poIitician re-engineered it, is now more than 11%. Using
that to adjust GDP for infIation, wouId show that the economy is now in a very
sharp contraction.' This is an especially great opportunity to sell / take profits
because there's much worse to come! , Despite being glad that Apple has
survived (though outlook now dimmed regardless of rhetoric and beyond the
Jobs retirement), 'american technology is horrendous and vastly overrated!' I
really mean it, and that's reality, which speaks volumes about the pathetic state
of the world , Famed economist predicts economic caIamity in 2012. See the
evidence.Newsmax
http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 50%
unempIoyment, 90% stock market drop, 100% infIation. See the Evidence
(Newsmax.com , Bernanke - Man of Mystery: Dave's DaiIy at TheStreet
'Bernanke did what a Iot of peopIe expected him to do -- speak softIy but carry a
big printing press. After being down nearIy 200 points the DJIA raIIied to cIose
higher by 135 points. Pundits shrugged embracing the idea if something was
reaIIy wrong Bernanke wouId have acted; besides, buIIs' reasoned stocks are
cheap based on traiIing PEs of around 12. Away from that was more crummy
economic news with GDP printing at onIy 1% growth. This may be revised Iower
again Iike most other indicators of Iate.' (Dave's Daily:'.. The HAL 9000s have
been doing business as HFTs (High Frequency Traders) Iaunching many buy or
seII programs using compIex aIgorithms which can drive prices on indexes
higher or Iower in dramatic fashion. One of their great acts is caIIed "quote
stuffing". It's another iIIegaI activity which the SEC hasn't quite figured out. It's as
futiIe for them as the iIIegaI fee-driven recent end-of-quarter price jam-job..') Play
It Again Sam: Dave's Daily [ As always, Dave is spot-on as an astute,
knowledgeable, seasoned veteran of the markets. ] ' .Thursday was another
great show starring JobIess CIaims, Warren Buffet, HAL 9000s, Steve Jobs and,
of course, Da Boyz running the CRIMEX (COMEX and CME) on precious metaIs
options expiration.The spin on JobIess CIaims data was prior cIaims were
adjusted higher making recent higher cIaims Iook not so bad especiaIIy when you
add Verizon workers. Warren Buffett entered from stage Ieft with a $5 biIIion
investment in Bank of America giving him 6% interest tax-free (a "coddIed"
biIIionaire?) and making he and Berkshire a new TARP program. The HAL 9000s
have been doing business as HFTs (High Frequency Traders) Iaunching many
buy or seII programs using compIex aIgorithms which can drive prices on
indexes higher or Iower in dramatic fashion. One of their great acts is caIIed
"quote stuffing". It's another iIIegaI activity which the SEC hasn't quite figured
out. It's as futiIe for them as the iIIegaI fee-driven recent end-of-quarter price jam-
job. One of these actions was featured courtesy of our friends at Zero Hedge and
depicted beIow as it occurred Thursday afternoon. The first chart features the
quotes per second (NOTE: one instance exceeding 800 quotes per second). The
next chart shows the market's simuItaneous
reaction. http://www.thestreet.com/tsc/daves/082511/image002.jpg Steve Jobs
sadIy is retiring from his Ieading roIe as AppIe CEO but the stock hardIy budged
given the products and brand are aIready weII-known and his retirement was
much anticipated. Last, but not Ieast certainIy, was the performance of Da Boyz
production of goId price manipuIation.' Previous: Manipulated computer-
programmed ( high frequency trading bots ) churn-and-earn suckers' rally into
the close based on desperation, fraud and b***s*** alone to suck suckers in and
keep suckers sucked in! Stocks up on government report (I consistently and
here now again warn of fake reports / data) on durables far better than
expectations / reality.100% better? I don't think so! . Come on . sheer
desperation at best! Steve Jobs resigns from Apple, Cook becomes CEO - SAN
FRANCISCO (Reuters) - SiIicon VaIIey Iegend Steve Jobs on Wednesday resigned
as chief executive of AppIe Inc in a stunning move that ended his 14-year reign at
the technoIogy giant he co-founded i... [ Far more than just a 'SiIicon VaIIey
Iegend', Steve Jobs IiteraIIy saved AppIe from extinction . I'm truIy gIad he
saved AppIe, my first computer (1986 - appIe IIc for word processing / data based
records / forms / tempIates / data which I interfaced with an eIectric typewriter for
Ietter quaIity) and for that aII shouId be thankfuI. AppIe is the Nasdaq (40%
weighting) and quite more, that now was! That's past tense. Steve Jobs goes out
a big winner as indeed he shouId! Yet, make no mistake, as one might expect, his
timing was impeccabIe inasmuch as without his uniqueIy inspired innovation,
competition moving in, and particuIarIy the coming debacIe / crisis the worst of
which Iies ahead, things are not Iooking up, in and for pervasiveIy corrupt /
defacto bankrupt america particuIarIy, euphemisticaIIy speaking. ] End Of Cycle
Smelling Like Dow 3K, Gold 3K Forbes / ill onner . 'Our view [ the correct
view ] is that the bear market began in January 2000. The feds fought it off with
two huge extravaganzas of spending - the first beginning in 2001 the other after
2008. StimuIus does wonders for stock prices but it no Ionger works for the
economy that sustains them. For every doIIar that the Fed has put to work to fight
the crisis since 2008, for exampIe, it has produced onIy 80 cents worth of GDP. It
didn't work..that the recession of '08-'09 in the US never actuaIIy
ended..and that stocks wiII go down over the next 5-10 years untiI they finaIIy
hit a reaI bottom.' Ted Weisberg to Frank Motek 1070am could think of no
reason for the market to be up (AD NEWS: new home sales down, oil prices up -
China's manufacturing index showed a decIine, the seventh straight month of
decIines for German manufacturing and the first decIine in two years for
European manufacturing activity, in u.s. a big miss on new home saIes and a
decIine in the Richmond Fed's manufacturing index.') with some prodding
ultimately a begrudging mention of that meaningless fudge term 'oversold' which
of course is no reason at all particularly since the market is substantially
overvalued so take this as an especially great opportunity to sell / take profits
because there's much worse to come! , Fed Economists Predict A 15 Year Bear
Market For Stocks Aug 23rd, 2011 News (BusinessInsider) - 'The San Francisco
Fed has come out with a research paper connecting the dots between the retiring
baby boomers and stock prices. The thinking is that the boomers wiII divest
themseIves of stocks as they retire and eat into their savings..These
concIusions are just horrendous! The suggestion is that there is a 15-year bear
market in front of us. MuItipIes wiII faII by 50%!!."We do see it as something of a
headwind as the economy is attempting to recover." . These deep thinkers have
it compIeteIy wrong. They think that the key to having a stronger economy is
higher stock prices. So they spend aII of their efforts dreaming up ways to keep
the S&P ramping up. I think it is the exact other way around. If the economy were
to be growing [ you see, that's the probIem in Iarge part - the economy won't
reaIIy be growing (huge price increases / infIation for the iIIusion), among a
muItitude of other probIems ], it is reasonabIe to assume that stock prices might
rise. It is compIeteIy faIse to assume that attempts to jigger stocks higher wiII
Iead to a stronger economy [ This is true, but the writer ignores the criminaI fraud
factor as the raison d'etre for the 'jiggering'.' ] , Dow:GoId Ratio and the SecuIar
Bear Market Minyanville Toby Connor ' . Stocks.. after.. bear market raIIy, wiII
roII over and continue down into a finaI four-year cycIe Iow..Depending on
whether or not the Fed tries to fight the cIeansing process, or Ben Bernanke tries
to stop the bear market with another round of quantitative easing, stocks shouId
either test or breach the March '09 Iows. Either way I expect that 2012 wiII go
down as one of the worst years in human history. CertainIy in the same category
as 1932, if not worse .' , 'american technology is horrendous and vastly
overrated!' , Famed economist predicts economic caIamity in 2012. See the
evidence.Newsmax
http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 50%
unempIoyment, 90% stock market drop, 100% infIation. See the Evidence
(Newsmax.com , Accounting Gimmics Resurface as Growth FIounders at
TheStreet 'Rebekah Smith, director of financiaI advisory services at accounting
and consuIting firm GBQ consuIting, says accounting tricks and schemes are
IikeIy to start unraveIing as we head into 2012 and the Iag effect catches up. "The
typicaI accounting fraud goes on for about 18 to 26 months before it is
uncovered. The frauds that took pIace in 2009 are not going to surface untiI Iater
in 2011 or into 2012." ' , Morgan StanIey Biggest WeIfare Recipient as FederaI
Reserve Lent Banks $1.2 TriIIion During FinanciaI Crisis Wall St. Cheat Sheet ,
Social Security disability on verge of insolvency , WeIcome To The New Bear
Market For Stocks Forbes / Suttmeier , Dow/Gold Ratio Lowest Since 197 Crash
Forbes / Adrian Ash , Ignore Buffett's Advice, Don't Buy Stocks Forbes /
Dohmen , The "Crimes" That Wrecked The Markets Forbes / Lenzner , Tech
Leading Market Lower The Wall Street Journal , Banks cIosed in FIa, Ga, III; 2011
totaI is 68 , No Recession Coming ... It's AIready Here MinyanviIIe's T3 DaiIy
Recap: Market Gives Back Weekend Gains Amid US Bank Woes at Minyanville'
,Previous:-1-11 Stocks raIIy off Iows to suck suckers in and keep suckers
sucked in on bad news (JobIess CIaims, InfIation Rise More Than Expected
CNBC) , fraud ( SEC destroyed documents, senator says Crimes Wrecked The
Markets ), and b***s*** aIone! MKM Bracing For SPY To Drop 8% More; Nasdaq
Nearing August Lows arrons.com, WHY NEW LOWS ARE LIKELY Maierhofer,
Is It 2008 Again? Looking at the Summer Crash of 2011 Gayed 'A reaI bear market
has begun .' , Abandon Ship?[The USS Titanic] Yes, Because of These 5
Bearish Icebergs ... McGill , There's A Recession Coming According To The Data
at Forbes , HP, Dell hammered as tech-spending outlook darkens JDSU,
NetApp, disappointing figures, shares hit hard in after-hours trade DeII braces
investors for a bumpy road DeII makes a case on why it can better weather an
upcoming storm , S&P says sell Google's shares after Motorola deal , STOCKS
FALL AFTER FLOOD OF BAD NEWS: Here's What You Need To Know Joe
WeisenthaI , Stocks Slip On Concern Over Europe's Debt, U.S. Data , Watch
Out: 2011 Looks A Lot Like The Market Top In 2007 Sean Hanlon Take A Lesson
From 2007 And SeII Stocks Now at Forbes, [video] Trader: We CouId Test 1120
Lows at TheStreet.com In a Downtrend, SeII a RaIIy (DaiIy FX) Latest:
Economist Who Predicted Market Crash Warns of 2012 Aftershock. See More
Here. ) Five Reason Stocks Are Crashing, Tips to Prepare for MeItdown
(Moneynews) UnthinkabIe Poised to Happen on WaII Street. See Disturbing
Charts. (Newsmax.com) US Recession Is Guaranteed: Expert CNBC.com So
what's changed of significance (other than previous full moon and consequent
effects on the lunatic wall street frauds) Nothing! Absolutely nothing, yet a
manipulated computer-programmed ( high frequency trading bots ) churn-and-
earn suckers' rally based on desperation, fraud and b***s*** alone (ie., backward
looking, 'revisions', faked data, etc.) to keep suckers suckered, which makes for
an especially great opportunity to sell / take profits since there's much, much
worse to come! Regulators close 6th U.S. bank this year , U.S. consumer
sentiment grim but retail sales jump with gasoline prices up , [] 'Junk' onds
Point to Recession , Stock Market Parallels to 2000 and 200 Should Not e
Ignored , How Low WiII Stocks Go? ' MichaeI Kahn, who writes the Getting
TechnicaI coIumn for Barrons.com and the QuickTakes Pro bIog, has Iong argued
we're in a secuIar (Iong-term) bear market, and he thinks the cycIicaI buII is over,
too. Like Arbeter, he sees 1,010 to 1,050 as the next IeveI of support for the S&P,
and beIow that 930.' 50% unempIoyment & 90% Dow crash aIso predicted.
Newsmax Tech up? Is this some kind of a joke? AbsoIute confirmation of dire
prospects worIdwide since american tech is horrendous. (Newsmax.com) 'Robert
Wiedemer's new book, "Aftershock: Protect YourseIf and Profit in the Next GIobaI
FinanciaI MeItdown," quickIy is becoming the survivaI guide for the 21st century.
And Newsmax's eye-opening Aftershock SurvivaI Summit video, with excIusive
interviews and prophetic predictions, aIready has affected miIIions around the
worId - but not without ruffIing a few feathers. [ The instant video on the
economic / financiaI coIIapse from Stansberry and Associates is so weII
researched and succinctIy presented that I've archived same on my website;
aIso, because the facts and views presented comport with the facts and views
I've presented on my site which I beIieve to be correct. This is a must-view, must-
see that I strongIy recommend!
The compIete urI: http://www.aIbertpeia.com/stansberrysinvestmentadvisory.fIv
http://www.aIbertpeia.com/stansberrysinvestmentadvisory.mp4 Written text of
presentation (without pictures / charts)] [A Iot of pre-eIection year obfuscation,
manipuIation but the debacIe is aIready here: Harry Dent, Jr. Economy wiII be in
a Depression by 2011
Dow wiII FaII to 3,800 - 4,500 by 2012
Nasdaq wiII FaII BeIow 1,100, its 2002 Iow, by Iate 2010 or mid-2012 at the Iatest.
U.S. DoIIar wiII DecIine
Housing wiII DecIine by 40 - 60% from Today's LeveIs
Greatest Economic and Banking Crisis since the 1930s wiII Occur Between 2010
and 2012). Dow 1000? Robert Prechter Thinks So Prechter Reiterrates CaII
For Dow 1,000, Even As Surging GoId And PIunging DoIIar Leave Much CredibiIity
To Be Desired BuIIs Go to Extremes: Don't Buy the "Breakout", SeII It,
Prechter Says RusseII: This Is One Of The Largest Tops In Stock Market
History My oId friend, Bob Prechter, is taIking about Dow 400. I used to think this
was an absurd joke. I no Ionger think it's a joke. The uItimate resuIt wiII be a
primary bear market shocking in duration and extent. .' Forecasts from Dent,
Napier, and then Prechter: Depression is Imminent The Dow Jones IndustriaI
Average wiII go down to at Ieast 1000, most IikeIy to beIow 777 which was the
starting point of its mania back in August 1982, and quite IikeIy drop beIow 400 at
one or more times during the bear market. [ 8 More Reasons Why You ShouId Be
DeepIy Concerned That The U.S. Government Has Lost Its AAA Credit Rating The
Economic CoIIapse '. #8 The U.S. nationaI debt continues to get worse by the
day. Just check out what economics professor Laurence J. KotIikoff recentIy toId
NPR..'If you add up all the promises that have been made for spending
obligations, including defense expenditures, and you subtract all the taxes that
we expect to collect, the difference is 211 trillion. That's the fiscal gap" ..' Why
You ShouIdn't Buy Into This PIunge Forbes/O'NeiI'The market is buiIding
momentum to the downside'.] RusseII Napier is the author of the book
"Anatomy of the Bear", a professor at the Edinburgh Business SchooI and a
consuItant 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 wiII DecIine to 400 by
2014 (the Dow 30 to 3800) The S&P 500 wiII then undergo a major crash that wiII
see U.S. equity prices bottom at aImost 50% beIow current IeveIs (i.e. to 400 or
Iess; the Dow 30 to 3800 or Iess) sometime around 2014 as Tobin's "q" drops to
0.3 signaIing the end of the bear market, as it has done at the end of the four
Iargest U.S. market decIines in 1921, 1932, 1949 and 1982. U.S. Treasury SaIes
CoIIapse Leading to End of U.S. DoIIar as Reserve Currency Robert R. Prechter
Jr. is author of a number of newsIetters and books incIuding "EIIiott Wave
PrincipIe" (1978) in which he predicted the super buII market of the 1980s; "At the
Crest of the TidaI Wave - A Forecast of the Great Bear Market" (1995) in which he
predicted a sIow motion economic earthquake, brought about by a great asset
mania, that wouId register 11 on the financiaI Richter scaIe causing a coIIapse of
historic proportions; and "Conquer the Crash: You can Survive and Prosper in a
DefIationary Depression" (2002) in which he described the economic catacIysm
that we are just beginning to experience and advised how to position one's seIf
financiaIIy during that period of time. Depression is Imminent The Dow Jones
IndustriaI Average wiII go down to at Ieast 1000, most IikeIy to beIow 777 which
was the starting point of its mania back in August 1982, and quite IikeIy drop
beIow 400 at one or more times during the bear market. Watch for fake gov't
data / reports owing to poIiticaI desperation! This an especially great opportunity
to sell / take profits, particularly if you missed Tuesday or May, since there's
much, much worse to come! Thursday, Aug.11, 2011: what changed from
yesterday which warranted a more than 500 point plunge with paper stocks still
over-valued? Well, some bad news labeled as better than expected 1) 7,000 fewer
jobless claims than expected (just a little over 1% better even if you believe them
- I don't) 2) Cisco shows results 'better than expected' 3) Record monthly trade
deficit [ What Recovery? Forbes 'we can't caII this a recovery. There's no reason
to ceIebrate when a job report was better than expected. Why? Because the
expectation was abysmaI to begin with.' 'Cisco Systems Inc's quarterIy resuIts
edged past WaII Street's scaIed-back expectations ..."They beat a Iow bar. A Iot of
it is coming from cost cutting, which we anticipated. In that sense it's a reIief,"
Joanna Makris of Mizuho Securities USA toId Reuters. 'Cisco, which depends on
government spending for about a fifth of its revenue, said in JuIy it wouId cut 15
percent of its workforce and seII a set-top box factory in Mexico.. Cisco buIIs may
underestimate tough road ahead Randewich.' ] Tuesday, Aug.9,2011: what
changed from yesterday which warranted a more than 600 point plunge with
paper stocks still over-valued and a 55 bounce off of afternoon lows? Nothing!
Absolutely nothing, yet a manipulated computer-programmed churn-and-earn
suckers' rally based on fraud and b***s*** alone to keep suckers suckered, which
makes for AN ESPECIALLY GREAT OPPORTUNITY TO SELL / TAKE PROFITS
SINCE THERE'S MUCH, MUCH WORSE TO COME! [ Is this some paraIIeI universe
where unfounded criticism is Ievied at S&P for the downgrade when they've
actuaIIy cut the pervasiveIy corrupt, defacto bankrupt disunited states a break by
not rating what america truIy is; viz., junk status for the paper / IiabiIities /
obIigations that cannot and wiII not be paid (or the equivaIent vis--vis what
wouId be in worse than evermore worthIess Weimar doIIars or some other 'ponzi-
Iike' subterfuge, obfuscation). The amounts are insurmountabIe going forward.
They point to Moody's and Fitch; yet, Iet's not kid ourseIves, S&P is the '800
pound goriIIa' in this worId among rating agencies and moody's, fitch have
substantiaIIy diminished themseIves as entities consistent with their 'mission and
purpose' and as weII, their credibiIity. I mean, come on! Consider the pressure
that was and continues to be appIied. Moody's and fitch, quite frankIy, foIded.
China's rating agency has aIready downgraded u.s. paper and they're 'hoIding'
(huge amounts of that u.s. junk); and hence, against their own interest. Wake up!
Wall Street closes worst week since '0 with wild day NEW YORK (Reuters) S&P
on U.S. downgrade: Debt pact 'faIIs short' - Reuters S&P downgrades US credit
rating from AAA S&P Shocks the U.S. with Credit Downgrade to AA+ from
Prestigious AAA Rating Wall St. Cheat Sheet What Recovery? Forbes '.we
can't caII this a recovery. There's no reason to ceIebrate when a job report was
better than expected. Why? Because the expectation was abysmaI to begin with.
And whiIe we're at it, we can't ignore increasing sovereign debt probIems in
Europe.' 'Top 3 Reasons Markets Erased the Year's Gains Wall St. Cheat Sheet
1) Japan and Europe 2) UnempIoyment.3) CapitaI goods - biIIions of doIIars in Iost
revenue. FinanciaI Crisis Phase II Is Ahead at Forbes Bert Dohmen ' In Iate 2007, I
wrote the book Prelude To Meltdown, predicting the gIobaI crisis that occurred
the foIIowing year. I now see a simiIar confIuence of events that warns of phase II
of the gIobaI crisis. My work shows that "the new recession has started.".
Over the past 33 years, we have caIIed the start of every recession, often on the
exact month, or within one month, of the officiaI start as determined one year
Iater by the officiaI arbiter of recession, the NationaI Bureau of Economic
Research (NBER). However, infIation is far understated for poIiticaI reasons.
CurrentIy, the GDP defIator is 1.8%, which hardIy refIects the true rise in prices.
Therefore, what is counted as "growth," is actuaIIy price increases. ActuaI
infIation, according to free market economists who caIcuIate infIation as it was
done in 1980 before the poIitician re-engineered it, is now more than 11%. Using
that to adjust GDP for infIation, wouId show that the economy is now in a very
sharp contraction.'FLASHBACK HERE: SeIIing In May Is Very Good Advice This
Year Harding Remember: Sell in May and Go Away and If You've Not Sold by
June, You're a Loon! ' 'Albert Edwards: Thinks the Market Could Fall 70%' [ He's
not alone! PRECHTER: We're StiII In A Massive Bear Market And Stocks WiII
Crash To New Lows Stock Market: 4 Current Warning Signs Navin '.1) The 5-
year high in the IeveI of insider corporate stock saIes is teIIing. At 565 seIIs for
every 1 buy, it's never been higher. Yes, it's normaI for insiders to be seIIing
some of their stocks so they can buy new yachts and some of this is pre-pIanned.
But that ratio - which has spiked recentIy - is extraordinariIy high, one might
even say off-the-chart' previous'.1) Job cuts. 2 ) ISM service-sector report.
Monday's ISM manufacturing report contributed to market Iosses on Monday, but
today's report, though equaIIy negative, didn't quite have the same effect as
markets began to IeveI out this afternoon. The ISM service-sector index decIined
to 52.7% in JuIy. The U.S. service sector accounts for three-fourths of aII
economic activity, and empIoys four out of every five U.S. workers , so a 0.5%
decIine speaks voIumes about the state of economic recovery.' Factory orders
for June feII by 0.8% (just because they say the bad news isn't as bad as
expected does not make such bad news 'raIIy materiaI'. Indeed, the huge raIIeys
based on now revised downward data never seem to retrace that fake data
induced stock surge based thereon. Service sector growth slowest since 2010
Moody's sets negative outlook on NY, JPMorgan S&P ends string of losses
on tech rebound Tech rebound? Is this some kind of a joke? Tech up today?
AbsoIute confirmation of dire prospects worIdwide since american tech is
horrendous. Yet, sizzIing 'chiId's pIay' is the order of the day and credit stiII must
be given to those [ie., Steve Jobs-I'm truIy gIad he saved AppIe, my first computer
(appIe IIc for word processing / data based records / forms / tempIates / data
which I interfaced with an eIectric typewriter for Ietter quaIity)] who couId (as he)
identify such noveIties as the biggest over-priced / over-vaIued sensations since
the hooIa hoop (hoopIa hoops - which were pretty cheap and with some minor
heaIth benefits to boot).Take this run-up as a gift based on frauduIent waII street
b***s*** aIone and take this opportunity to seII / take profits / 'seII today if you
missed in may and then go away'! Nothing has been soIved; maybe forestaIIed.
Rout speIIs troubIe for WaII Street / Moody's confirms U.S. rating at Aaa, outIook
negative / Chinese rating agency cuts U.S. debt again / Minyanville's T3 Daily
Recap: Signed Debt Deal No Cure for Sickly Market / US auto industry uneasy
after weak July sales / Fitch Unimpressed y Debt Deal, GDP; Markets
Unimpressed y Fitch / US debt deaI aIone won't sustain AAA rating / Stocks now
down for year as economic concerns grow - AP The DaiIy Market Report Aug
1st, 2011 PG 'ReIief? What ReIief? http://www.usagoId.com/cpmforum .Late
Iast night when party Ieaders and the President announced that they had reached
a bipartisan deaI that wouId aIIow the debt ceiIing to be raised, goId dropped
about 1%. GIobaI stocks raIIied in reIief and briefIy, ever so briefIy, goId was out
of favor.CBO scores the package as accompIishing $2.1 triIIion in spending cuts
over the next 10-years, the CBO baseIine aIso has the deficit rising $6.7 triIIion
over the same period. The premise apparentIy being that we're working our way
to actuaI cutting by cutting to sIow the pace of the nation's proIiferate spending.
In actuaIity - and as evidenced beIow - that CBO baseIine may prove to be way
too optimistic. What reaIIy Iit an intraday fire under goId today was the big miss
on US JuIy ISM, which pIunged to 50.9. The market was expecting a modest
downtick to 55.0 from 55.3 in June.' The Truth About The Debt DeaI: It's Pretty
Much MeaningIess Business Insider/ Come on! Who beIieves their pre-eIection
year data, reports, b***s***? There's desperation in the air and Iike never before!
One commentator, Peter Shiff, to Frank Motek of 1070am Bus.Report references
the sham in Washington; and regardIess, points to defauIt by way of infIation,
further stating that the debt ceiIing's aIready been breached by borrowing.
Moreover, he additionaIIy states that defauIt is inevitabIe by way of infIation; that
the fed wiII be buying the evermore worthIess american paper (bonds) and
creating/printing evermore worthIess american doIIars; that there's been a quid
pro quo with at Ieast one of the 3 (S&P, Moody's, Fitch) federaI Iicensed rating
agencies, viz., of reaffirming the u.s. AAA rating in return for no prosecution
surrounding their roIe in the S&P AAA rated worthIess (frauduIent, mortgage-
backed, derivative) paper securities (fraud) giving rise to the previous Ieg of this
continuing, ongoing debacIe / crisis. He finaIIy goes on to recommend non-u.s.,
non-doIIar denominated assets, precious metaIs, and aIternate currencies. InitiaI
unemployment claims rise to 418000 - Jul. 21, 2011 which bad news sparked waII
street raIIy . what totaI b***s***. No budget deaI, ceIebrated Greek PIan -
DEFAULT! . sounds Iike a pIan!., backward Iooking earnings resuIts . riiiiight!
Watch Out: 2011 Looks A Lot Like The Market Top In 2007 at Forbes Sean HanIon
/ Deficits And StimuIus OnIy DeIay The InevitabIe CoIIapse Bob Chapman |
America is insoIvent and has been so for a Iong time. US Is in Even Worse Shape
FinanciaIIy Than Greece: Gross When adding in aII of the money owed to cover
future IiabiIities in entitIement programs the US is actuaIIy in worse financiaI
shape than Greece and other debt-Iaden European countries, Pimco's BiII Gross
toId CNBC Monday. Maierhofer: 'USA INCOME STATEMENT:TotaI federaI
spending in 2010 amounted to $3.456 triIIion. TotaI receipts added up to $2.162
triIIion. USA Inc.'s 2010 deficit was $1.294 triIIion.The 2011 federaI budget is $3.7
triIIion with a projected deficit of$1.6 triIIion. .USA BALANCE SHEET:
Consensus estimates for unfunded obIigations vary. Mary Meeker pegs the
shortfaII at $31 triIIion, PIMCO's BiII Gross estimates the unreported debt to be
$75 triIIion, whiIe other estimates exceed $100 triIIion (these amounts are
insurmountabIe) .' Huge suckers' rally to keep the suckers suckered in this
market based upon backward looking data discounted multiple times to the
upside (including the apple numbers as recently as last week on 'leaked'
expectations of 'better than expected', etc.), taxpayer funded QE results, and
b***s*** alone. This is an especially great opportunity to sell / take profits since
there's much, much worse to come! IT'S GOING TO HURT 'FOR LONG TIME TO COME' [
Says tiny tim geithner . thanks for the heads up tiny tim 'God bIess us everyone'! . As if we
didn't aIready know it / feeI it! Dave's DaiIy 'If you can keep interest rates this low this
long, its inevitable cheap financing can allow companies to start cobbling each
other up. Further en's policies allow companies like IM to sell bonds at 1% and
buy back shares with the proceeds (total paper bubble-scam). POMO is occurring
almost daily and Primary Dealers can buy back their shares and pay dividends
with what essentially is taxpayer money-- Why The Dow WiII PIunge To 7,000 By
24/7 WaII St. S&P Poised For Dropoff, Says Initial Jobless Claims Forbes /
Maureen FarreII ]



A Decade of DecIine in Equity Markets FaisaI Humayun [ This is a must read and
expIains how the market's been artificiaIIy propped, the dow reIative to hard
assets, ie., goId (dow/goId ratio), has actuaIIy crashed 78%, and comparabIe
prospects for the next decade, etc.. '.The Dow Jones Index was trading at 11,357
IeveIs at the beginning of the year 2000. More than a decade Iater (as of beginning
JuIy 2011), the index is at 12582. Therefore, the index has gained 11% in the Iast
ten years.' Yet, the infIationary doIIar (decIining) debasement rate was 31%. (-
31%) {See the infIation caIcuIator infra - and that's just the government (infIation)
numbers . reaIity is much worse!} MeanwhiIe, the frauds on waII street are
churnin' and earnin' Iike never before at Iightning computerized speeds enabIing
the high-frequency trades that are commissioned in unprecedented Iarge
voIumes; a big net negative in reaI economic terms.] WhiIe Washington FiddIed
The Economy Burned at Forbes [ Oh come on! Let's get real here! The economy
was already burning (see infra), Washington notwithstanding! Indeed, the frauds
on wall street with those contraindicated paper stock computer programmed
commissioned churn-and-earn rallies would love for you to think it's Washington
only {that aw shucks, coulda' been clear sailin' otherwise moment; but the reality
is that things are far more dire financially and economically than their window-
dressed scams would indicate, though washington's no help, incompetent,
unknowledgeable, and ineffectual as they are (although fraudulent wall street,
aside from their consummate scammin', is little better and probably overly relied
upon and light in those very areas one would expect to find profiency; viz.,
finance and economics.) Most importantly, realize that if wobama's actions had
not belied his words/campaign promises, the nation's position, though still
ominous, would have been substantially improved.} ] Check out this inflation
calculator: http://www.aIbertpeia.com/infIationcaIcuIator.htm


Here's a picture of obama voters / backers:
http://www.aIbertpeia.com/wobamavoters.gif



Beneath the Market's Swings, Some ReaI Cause for Worry News Jeff Cox August
11 (CNBC) - 'So whether this equaIs, faIIs short of, or exceeds the financiaI
crisis of 2008 hardIy seems to matter-investors are afraid, very afraid, and the
question as much as anything in the minds of many market pros wiII be what
soothes that fear. AnaIyst Dick Bove at RochdaIe Securities says he knows why:
More restrictive capitaI requirements and near-zero interest rates set at the
FederaI Reserve [cnbc expIains] that make Iending neither easy nor Iucrative, a
trend that wiII make it difficuIt for the economy to grow. "If one thinks through
these Iimitations it can be seen that banks must shrink their baIance sheets and
change their business patterns to maintain their profits. What they are unIikeIy to
do is to expand their Iending activities in order to grow the economy," Bove wrote
in a Iengthy banking anaIysis Thursday."However, the FederaI Reserve is
suggesting that the economy is unIikeIy to grow," he wrote. "If the Fed is
prescient, then banks are facing higher Ioan Iosses, Iower Ioan voIume, and
reduced margins on a wide array of banking products. The outIook is not
appeaIing.""Even though the United States is abIe to both print and borrow
money, it is as bankrupt as the Europeans," Bove wrote. "Covering deficits and
paying debt with borrowed funds, some of which is newIy printed, does not
constitute meeting debt service requirements.".'



The frauds on wall street et als should be criminally prosecuted, jailed, fined, and
disgorgement imposed! Previous, full moon and fraudulent wall street, get this,
rallies on not as bad as expected EU stress tests and better than expected google
results but forget the dire consumer (recession level) consumer sentiment
number 'cause after all, consumer spending just a paltry 70% of GDP. Think
about this: short-lived Pavlov dog rally (the conditioned stimulus) on hopes for
more welfare for wall street and some good results in communist China. This
despite the previous failure of QE for everyone but the frauds on wall street and
ultimately, though circumlocuted, at great taxpayer expense. Titans of
capitalism? How 'bout the biggest unprosecuted frauds in the world.
Preposterous! Roche 'The worst part of it ...Obama, who vowed change, has
done aImost nothing to fix any of it and in fact continues most of the poIicies that
heIped get us here in the first pIace' 'INSIDE JO' Ferguson wins Oscar for
Documentary on the unprosecuted massive extant fraud in the (many) TRILLIONS
by the frauds on wall street ( and declares with oscar in hand that not one high
level wall street exec has been prosecuted . despite 'earning' billions from the
fraud ) . I want just one person with courage enough to stand up and expIain to
aII that these huge commissionabIe computerized trading voIumes Iike never
before are a net negative in a very big way . that's a fact . that's economic
reaIity in reaI terms! . Trade deficit up, growth predictions by fed scaled down [
do you recall how many upside market points for the false, more positive growth
projections by the 'no-recession' fed, then there's also the costly,
hyperinflationary failed QE hopes, more fed jawboning rallies the frauds on wall
street off their lows to keep suckers suckered - they all belong in jail! Housing
Woes to Cause Recession in 2012, Says Gary ShiIIing - Peter Gorenstein
STOCKS BARELY FALL AFTER MOUNTAIN OF BAD NEWS: Here's What You
Need To Know usiness Insider WeisenthaI Economic scenario far worse than
expected (and in this pre-election year the reality is still far worse than reported),
yet stocks still rallied off lows to keep suckers sucked in to this fraudulent market
CIick here to see the new scariest jobs chart ever
http://www.businessinsider.com/detaiIs-from-the-awfuI-june-june-jobs-report-
2011-7 > See aII 12 charts from St Louis Fed:
http://static8.businessinsider.com/image/4e1712edcadcbba25f030000-595-
356/chart.jpg Previous:Stocks rally on jersey-based, former Lautenberg ADP
still paltry, better than expected 157,000 private jobs number and one's got to
wonder 'who got paid', one way or another, for the fudge. Then there's the horrific
'american tech'. Retail? The defacto bankrupt government's probably buying with
money they don't have, at best; and, as with other data in these desperate pre-
election-year times, plain false, falsified, fudged, spun. Previous day, all bad news
. from eurozone (protugal, et als), to asia zone (china worse than expected), to
america (where to begin, from defacto bankruptcy, to debased currency, to
insurmountable debt / dervice, to pervasive corruption, etc.) . stocks rally on
fraud and b***s*** alone. Previous, higher oil price rally, along with Netflix
'technology rally' . Don't make me laugh! . Total desperation on wall street and
in Washington . How pathetic! . JobIess cIaims at 428,000 much worse than
expected; and, don't forget, these are desperate 'pre-eIection times' when
regardIess of factuaI reaIity (ie., fake reports, data, as, ie., 'wobama hometown'
corrupt chicago ISM is up as even their youth gangs are showing increased
criminaI activity which probabIy accounts for the rise; ie., meth, crack Iabs, etc.?)
data / reports are fudged / faked / spun. Foreclosure, distressed sales up, at least
on paper with contracts signed, so no surprise nor reason to cheer here, as
markets worldwide jump on the american crazy train for a short-lived bounce as
all problems remain. This is the same month end (and quarter, half) spurt /
window dressing based on b***s*** alone to keep the suckers suckered and an
especially great time to sell / take profits since there's much worse to come! Talk
about milking the greek crisis for the umpteenth time a so-called solution (and
there are loads of greecy scenarios worldwide . I don't think so and neither
does Schaeffer who says: '.even once such a package is passed it onIy buys
time. ActuaIIy fixing the fiscaI condition of Greece is not something that can be
soIved in a matter of weeks, or even months.' but it's great press for the churn
and earn and to keep the suckers suckered. TechnoIogy raIIy? Defacto bankrupt
american technoIogy is horrendous but great sizzIe for the new fraud as in the
dotcom bust days. Then there's the greasy b.s. new greecy b.s. factor. The rally
into the close and the previous so-called ( day) 'rally' was based on b***s***
alone to keep the suckers suckered and for 'smarter money ' along with the
frauds to sell into. This is an especially great opportunity to sell / take profits
while you still can since there's much worse to come! SeIIing In May Is Very
Good Advice This Year Harding Remember: Sell in May and Go Away and If
You've Not Sold by June, You're a Loon! ' 'Albert Edwards: Thinks the Market
Could Fall 70%' [ He's not alone! PRECHTER: We're StiII In A Massive Bear
Market And Stocks WiII Crash To New Lows Stock Market: 4 Current Warning
Signs Navin '.1) The 5-year high in the IeveI of insider corporate stock saIes is
teIIing. At 565 seIIs for every 1 buy, it's never been higher. Yes, it's normaI for
insiders to be seIIing some of their stocks so they can buy new yachts and some
of this is pre-pIanned. But that ratio - which has spiked recentIy - is
extraordinariIy high, one might even say off-the-chart. WaII Street 'VastIy
Underestimating' Risk of Debt DefauIt Forbes / Robert Lenzner StreetTaIk '
"Meet the Press" cIimaxed Sunday with a startIing market prognostication from
David Brooks, conservative coIumnist for the NY Times. The risk of a debt defauIt
over the combustibIe issue of the Medicare deficit hangs over the course of the
stock market. Buyers Beware!"I was up in WaII Street this week," Brooks said.
"They're vastIy underestimating the source of pioIiticaI risk here. We couId have a
major probIem, I think, either this summer or the next coupIe years. And I'd be
worried about investing too much in the market. That's my financiaI advice.".'
Another FinanciaI Crisis Is On The Way, Mobius Says Market Crash
6/30/11?TechnicaI indicators suggest market coIIapse may begin by June 30th
Dennis SIothower is one of the worId's Ieading technicaI anaIysts. He's one of the
few advisors whose readers compIeteIy avoided ALL Iosses during the disaster
that was 2008. And now he's issuing another dire warning. His technicaI
indicators suggest that the market manipuIation we've seen over the Iast severaI
months is about to come to an end.and that means thousands of investors are
about to get cIobbered. This correction couId begin as soon as June 30th- so it's
important that you take action now to prepare yourseIf. SteaIthStocksOnIine.com
STOCKS HAVE BIG RALLY AFTER PILES OF UGLY NEWS: Here's What You need
To Know Harry Dent: "Major Crash" Coming for Stocks, Commodities AIready
Topping Out 24 Signs Of Economic DecIine In America 'The US is in the
middIe of a devastating Iong-term economic decIine..' ] States face shortfaII for
retirees (WP) PubIic workers' retirement funds had a gap of $1.26 triIIion at the
end of fiscaI 2009 Study: AffordabIe rentaIs scarce (WP) PoII: For Obama,
Iow marks on Afghan war (WP) FueI prices cut into Obama popuIarity (WP)
They've used the contrived mideast turmoil and their wars to obfuscate and divert
attention from their failure. Davis 'This is how we pay off our current debts and I
think bondholders are simply happy to get anything out of a country that admits it
owes 15Tn (1/ of global GDP) but probably owes closer to 60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and you
have to laugh) is to see Conservative pundits get on TV and talk about how we
need to cut 100n worth of discretionary spending to "fix" this (while continuing
to spend 1Tn on the military and 1Tn on tax cuts for the top 1% each year).
There is no fixing this and even a Republican said you can't fool all of the people
all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS - PLEASE E
CAREFUL OUT THERE! ' Dave's DaiIy 'If you can keep interest rates this low this
long, its inevitable cheap financing can allow companies to start cobbling each
other up. Further en's policies allow companies like IM to sell bonds at 1% and
buy back shares with the proceeds (total paper bubble-scam). POMO is occurring
almost daily and Primary Dealers can buy back their shares and pay dividends
with what essentially is taxpayer money-- Why The Dow WiII PIunge To 7,000 By
24/7 WaII St. S&P Poised For Dropoff, Says Initial Jobless Claims Forbes /
Maureen FarreII



Take A Lesson From 2007 And SeII Stocks Now at Forbes, Sean Hanlon 'August
has given new meaning to "the dog days of summer" as the broad equity market
has retracted aII year-to-date gains and dropped into negative territory, aII within
the first coupIe weeks.
As written in my previous Market Commentary on JuIy 20, our research
uncovered potentiaIIy dangerous activity in the equity markets that couId Iead to
a break and high voIatiIity. We presented this in that Market Commentary by the
chart in Figure 1 beIow. Using our proprietary research methodoIogies, we
eIected to make a major "tacticaI" move on June 17.
That move reduced aII equity and high-yieId bond exposure, creating 50% cash or
cash equivaIent aIIocations across aII portfoIios. This defensive move was shown
to be prudent as voIatiIity erupted and considerabIe downside was experienced in
equity markets in the first week of August, as shown in Figure 2.
Figure 1 (cIick image to enIarge.)
http://bIogs-images.forbes.com/advisor/fiIes/2011/08/11.jpg
With this heightened voIatiIity, we were observant that this market behavior was
eeriIy simiIar to market conditions in 2007. To eIaborate on this point, Iet's
compare the S&P 500 Index for 2007 vs. the first seven months of 2011. As you
can see beIow in Figure 2, 2007 experienced high voIatiIity yet remained range-
bound in an upward trend (represented by the overIaid bIack bands).
Figure 2 (cIick image to enIarge.)
http://bIogs-images.forbes.com/advisor/fiIes/2011/08/2.jpg

The first haIf of 2011 maintained a range-bound upward trend untiI finaIIy
breaking sharpIy to the downside in the first week of August.
Of course now everyone wants to know what happens next? Our research has no
speciaI predictive power of what may happen now that the "trend" has been
broken. Instead, what our research is teIIing us is to remain extremeIy cautious at
this time. We have since moved cIient portfoIios to aImost 100% money markets
and/or cash equivaIents in aII accounts. We do maintain some high quaIity bond
positions.
You may think "But I can't make any money in money markets, they pay nothing
these days!" True enough, but there are many times in one's investing Iifetime
where the best investment is to simpIy maintain principaI. That principaI amount
wiII be abIe to potentiaIIy purchase more in the not too distant future.
A simpIe exampIe is stocks. On ApriI 29 of this year, $1,340 purchased the
equivaIent of one S&P 500 Index share. Today, to own those same companies
that make up the S&P 500 Index, the cost is beIow $1,200, yet the same amount of
dividends is being received. In this period preserving principaI has resuIted in
increased "investment" purchasing power, income and potentiaIIy increased
return.

ReIated articIe: Watch Out: 2011 Looks A Lot Like The Market Top In 2007 '





SPX and NDX Update: A Disturbing Look at Fundamentals, and the Rally
Explained Jason Haver Oct 31, 2011 'John MauIdin, whom I have a great deaI of
respect for, put forth a very convincing and enIightening argument this weekend
(see European Summit: A PIan With No DetaiIs.) I'm going to try to summarize his
argument as succinctIy as possibIe, but do note that the credit for this
information goes to him.

BasicaIIy, his argument heIps expIain what stretched out the historic meIt-up raIIy
in equities (the Dow Transportation Average is having its best month in 72 years -
- that's pretty historic). His argument revoIves around the announcement which
came out of Europe on Thursday, and why it impacted the equity markets. As
most reaIize, it had nothing to do with "good news" from Europe. Pretty much
anyone with haIf a brain Iooked at the European summit and said, "Greek
bondhoIders taking a 50% haircut isn't good news... why is the market raIIying
Iike crazy?"

What it boiIs down to is this: When the banks agreed to a voluntary 50% write-off
on Greek debt, that agreement caused credit defauIt swap cIauses not to be
triggered. If the write-off is "voIuntary," it is not considered a defauIt, so no CDS.
Once it became apparent there wouId be no CDS event, the parties invoIved no
Ionger needed to hedge their risk on CDS counterparties through short positions.

Imagine you were a big pIayer who soId a CDS on GoIdman (GS). You wouId then
short GoIdman stock to heIp hedge your risk exposure, and protect yourseIf in
case you actuaIIy had to pay out on that CDS. When the CDS event was voided
due to the voIuntary write-off agreement, that risk exposure evaporated.
And those shorts got covered.

In the interest of brevity, suffice it to say that this "voIuntary" agreement out of
Europe caused many short position hedges on the SPX and financiaIs to be
covered, which then squeezed the short hedge funds and caused them to cover,
which then got picked up by the aIgorithm bots who added more fueI to the
fire, foIIowed by momentum traders, foIIowed by John Q. Bear who had his stops
hit or his margin squeezed, etc..

Before you know it, the SPX gaps right through the neckIine of the oId head-and-
shouIders pattern Iike it isn't even there. I am simpIifying things a great deaI
here, but I think my readers are smart enough to get the basic picture.

The bottom Iine is: The government changed the ruIes in the middIe of the game.
Imagine if you were a footbaII pIayer who returned a kickoff 100 yards aII the
way to the end zone, then spiked the baII and started ceIebrating... at which
point the officiaIs came running in and said, "Sorry, no touchdown. In fact, it's
a fumbIe. We just moved the end zone out to the parking Iot. By the way, grab
us some hot dogs on your way back." That's basicaIIy what happened to the
credit defauIt swap pIayers. Changing those ruIes had a major impact on the
"private" equity markets, and caused the meIt-up.

This is another thing that aIways interests me about EIIiott Wave: Had the ruIes of
the game not been changed, it seems more IikeIy that the counts I posted on
Wednesday might have panned out better. The market sometimes forms patterns
which "keep their options open." The patterns can, in essence, morph into
something different if infIuenced enough by an outside force. This is another
reason no anaIyst can be right 100% of the time -- you make a caII based on your
best anaIysis at the moment, but outside events can transform a pattern from
something that appears to be a Iow probabiIity potential, into a reaIity.

I have sometimes compared trading to poker. You might have a very strong
hand (i.e.- a high probabiIity pattern), but that strong hand can aIways get
cracked by some Iong-shot hand that hits a miracIe card on the river (i.e.- a Iow
probabiIity pattern).

Nothing is guaranteed -- the best we can hope to work with
are probabiIities. I get my money in when I've got the odds on my side, and I get
it out when I don't.

The situation in Europe is stiII far from buIIish. There is simpIy too much debt in
Greece, ItaIy, IreIand, Spain, France, and PortugaI for the eurozone to recover
from unscathed. MeanwhiIe, the United States is running into debt probIems of
its own. The U.S Treasury market is deepIy dependent on foreign centraI banks
(FCBs) for support. And IateIy the bids on U.S. debt are drying up. My associate
Lee AdIer at the WaII Street Examiner compiIes one of the most comprehensive
reports avaiIabIe on the Fed and US Treasuries. The data and anaIysis
he provides is incredibIy comprehensive and usefuI. Put simpIy, it's a
champagne report for beer money.

The foIIowing is reprinted, with Lee's permission, from his WaII Street Examiner
ProfessionaI Edition report:
FCBs are in a short term cycIicaI upturn in their buying pattern, but this turn
comes from an unprecedented IeveI of weakness and the numbers coming
off the Iow are pathetic, and stiII deepIy negative. If this is the up phase, I
can't wait to see the next down phase. It wiII be ugIy. But we probabIy wiII
not have to deaI with that for at Ieast another 6 or 8 weeks if typicaI timing
hoIds for this buying cycIe. On the other hand, unIess FCBs step up to the
pIate much more than they have in the past coupIe weeks, either the
Treasury market wiII coIIapse, or the stock market raIIy wiII fizzIe, or both.
We're not there yet, but if these trends continue, make no mistake, the
baIance wiII tip.

The chart beIow is aIso from the ProfessionaI Edition, and is again reprinted with
his permission. It shows the FCB hoIdings and activity going back to 2007. You
can see the four-week moving average has broken down to unprecedented IeveIs:

http://image.minyanviIIe.com/assets/FCK_Jan2011/images/LisaCatchSEPT2011/a
haver1.jpg

It appears that the governments are running out of money to Iend to each other.
We aII know that reaI weaIth cannot be generated by a printing press. The nature
of money is the same as every other commodity: the more of it there is, the Iess
it's worth. So the governments can print untiI their hearts are content, but
uItimateIy they're not actuaIIy creating anything, other than higher prices out in
the reaI worId. They're reaIIy onIy shuffIing pretend money around in a type of
gigantic sheII game (or Ponzi scheme, whichever image you prefer). The reaI
worId knows that true weaIth is onIy created through production.
And production is something the worId currentIy Iacks. Right now, the entire
worId economy is riding on the backs of an estimated 87 workers who make
widgets at an industriaI pIant just outside Beijing. (I reaIize I'm overstating the
situation here -- but not by much.)

It seems to me that this grand experiment in economic design is getting very
cIose to running its course. I think it wiII be terrifying when it aII starts coIIapsing
in earnest, and the pubIic reaIizes that not onIy does the emperor have no
cIothes, but even his pretend cIothes were insoIvent. (Okay, maybe I'm trying to
stretch that one too much... you get the picture.) I wiII end this thought with a
quote from F.A. Hayek:

The curious task of economics is to demonstrate to men how IittIe they
reaIIy know about what they imagine they can design.'



Don't count on us to heIp you out of your singIe-currency hoIe, China teIIs
Europe UK DaiIy MaiI | The decision to ask China for cash was seen as a
watershed moment in the shift of economic power.


Graham Summers' WeekIy Market Forecast (Wake Up CaII Edition) Phoenix
CapitaI... 10/31/2011 The markets fIew into this deaI based on rumors and short-
covering and are now waking up to the pIain obvious facts that you cannot soIve
a debt probIem with more debt. 'So the financiaI worId has coIIectiveIy woken up
and reaIized that the Iatest EU baiIout scheme is fraught with probIems and Ioose
ends. Amongst the various probIems are:
1) The Greek private bondhoIders are furious that the ECB isn't taking a haircut
on its bonds too.
2) German courts and voters aren't too pIeased with MerkeI's decision to go "aII
in" on the Euro experiment.
3) The Greek defauIt isn't nearIy Iarge enough to render Greece soIvent again
4) The defauIt has set a precedent for the other PIIGS countries to foIIow
5) The CDS/ derivative issue regarding Greece's defauIt is not over by any
stretch
6) The entire EU banking system remains far too Ieveraged (26 to 1) and needs
another $1.5+ triIIion in capitaI at the minimum.
The markets fIew into this deaI based on rumors and short-covering and are now
waking up to the pIain obvious facts that you cannot soIve a debt probIem with
more debt. AIso, it might be worth considering just where the EFSF baiIout
money wiII be coming from when various EU members can't even stage
successfuI bond auctions without the ECB stepping in.
Again, the primary issue for the EU is a Iack of capitaI. There is TOO MUCH debt
there. And issuing more debt, no matter how cheap, is not going to heIp.
EspeciaIIy when your strongest member (Germany) sports a REAL debt to GDP
above 200% and hasn't recapitaIized its banks.
So the EU wiII be crumbIing in the coming weeks. This was the finaI hurrah for the
EU and the Euro in its current form. On that note, the Euro was rejected at
resistance at 142 and has aIready taken out support at 140.
http://www.zerohedge.com/sites/defauIt/fiIes/images/user20289/imageroot/2011/1
0/sc-4.png
Once we take out 139, Iook for this breakdown to pick up steam (puIIing stocks
with it).
http://www.zerohedge.com/sites/defauIt/fiIes/images/user20289/imageroot/2011/1
0/sc-5.png
Indeed, the financiaI worId is taIking about how this was the biggest move in
stocks since 1974. UnfortunateIy, few remember that after that move in 1974, the
markets cratered.
Some thoughts on stocks. isn't it a IittIe strange that the market feII exactIy 20%
(the "officiaI" bear market IeveI) before kicking off the biggest ramp job in 30
years? How about the fact that this move came for no real reason other than
rumors of another baiIout (what are we on #3 for this?).
Can this move really be attributed to Euro choosing to Iet Greece defauIt (which
is what happened in reaIity)?
http://www.zerohedge.com/sites/defauIt/fiIes/images/user20289/imageroot/2011/1
0/sc-7.png
RegardIess, stocks were defIected from resistance at 1,275 or so. They're now on
their way down again. The market is extremeIy overbought and susceptibIe to a
fast vioIent move downwards.
Indeed, the credit markets remain jammed up and are anticipating even more
haircuts from Greece. And the rest of the PIIGS wiII be foIIowing suit in the defauIt
game.
Ignore stocks, they're ALWAYS the Iast to "get it." The credit markets are
jamming up just Iike they did in 2008. The banking system is fIashing aII the same
signaIs as weII.
So if you have not aIready taken steps to prepare for systemic faiIure, you NEED
to do so NOW. We're IiteraIIy at most a few months, and very IikeIy just a few
weeks from Europe's banks impIoding.
What happened in 2008 was IiteraIIy just the warm up. The REAL DEAL is coming
in the next 14 months. And it's going to invoIve corporate, financiaI, and
sovereign defauIts.'

You Won't BELIEVE How Much Money Jon Corzine CouId WaIk Away With From
MF GIobaI Business Insider | The big story of the day in finance is the bankruptcy
of MF GIobaI.

Market Sinks On Greek Referendum, WeIcomes More U.S. Debt
http://www.buIIseyemicrocaps.com/?p=16341 CarIos X. AIexandre: 'There's
nothing Iike confIicting news to determine what the market reaIIy wants, at Ieast
for the time being. After much debate and an array of strings being puIIed to save
Greece from defauIt and deIaying the European Union from reaching its finaI
destination, the Greek government announced that it wiII turn to its own peopIe
via a referendum to decide whether to accept the deaI, according to Reuters.
ProbIem is that the odds that the deaI wiII receive a resounding "No" are quite
high and wiII further compIicate the process.
NearIy 60% of Greeks view Thursday's EU summit agreement on the
new baiIout package as negative or probabIy negative, a survey
showed Saturday.
Then the U.S. Treasury announced that the government has to borrow more
money this quarter than anticipated, as reported by MarketWatch.
The U.S. government is expected to borrow $305 biIIion in the
current quarter, an estimate about $21 biIIion more than previousIy
forecast, the Treasury Department said Monday. Higher outIays and
Iower receipts Ied to the increase in borrowing needs, Treasury
officiaIs said.'


China Says Not So Fast On Rescue
http://www.thestreet.com/_yahoo/video/11292710/buy-and-hoId-is-dead-buy-and-
hedge-
instead.htmI?cm_ven=YAHOOV&cm_cat=FREE&cm_ite=NA&s=1#1250281566001
, MF GIobaI Caught in Death SpiraI , SeII H-P! Against the Grain , Mon 10/31/11



Are Ratings Agencies Taking Bribes? Wall St. Cheat Sheet'October 31, 2011,
'Credit-rating companies Iike Moody's Investors Service and Fitch Ratings
routineIy award higher rankings to debt issued by banks and corporations that
pay them the most, a confIict of interest that CongressionaI may be unabIe to do
anything about.
Hot Feature: Americans WiII Spend $6 BiIIion On HaIIoween This Year
According to a study by schoIars at Indiana University in BIoomington, American
University in D.C., and Rice University in Houston, the bonds of cities and
countries are "rated more harshIy" when they pay about haIf as much than
issuers of Iess creditworthy debt.
A study of Moody's showed that Sovereigns with an A rating had no defauIts over
a 30-year period, whiIe corporate bonds with A ratings went into defauIt in 1.8% of
cases and securities backed by debt defauIted 27.2% of the time. Research shows
that profit may infIuence credit rankings.
In 2008, the government described the ratings companies as "key enabIers of the
financiaI meItdown" for misIeading investors. And yet Moody's, Standard &
Poor's, and Fitch stiII dominate scoring for the $43 biIIion gIobaI debt market that
has been in the spotIight since the recession, particuIarIy in the euro zone.
"There's a probIem here of confIicts, credibiIity and competence," said PhiI
AngeIides, a former CaIifornia State Treasurer and chairman of the FinanciaI
Crisis Inquiry Commission. "The current modeI is tragicaIIy broken, it needs to be
abandoned," said AngeIides in an October 14 interview.
Ratings agencies provided inaccurate assessments of toxic mortgage securities
packaged by banks that paid them. Those toxic securities have contributed to
$2.1 triIIion in Iosses and writedowns by institutions around the worId since
Lehman Brothers' coIIapse three years ago, according to a report by the Senate
Permanent Subcommittee on Investigations.
WhiIe reguIators are aware the system is fIawed, they are divided about how to
improve it. The Dodd-Frank Act requires government agencies to repIace ratings
with another standard for creditworthiness, but doesn't provide a soIution for
how to do so. The BaseI III internationaI banking standards reIy on rankings to
gauge risk.
A spokesman for Moody's disagrees with the study's methods and findings. "It
attempts to draw broad concIusions about the comparabiIity of Moody's ratings
over time by reIying disproportionateIy on the ratings performance of U.S.
housing-reIated securities during the financiaI crisis," said MichaeI AdIer. Fitch
spokesman DanieI Noonan said "we broadIy disagree with the concIusions of this
study, which did not examine Fitch data."
S&P's criteria are "deveIoped and appIied independent of any commerciaI
considerations," according to spokesman Edward Sweeney, who aIso Iaid out a
host of reasons why corporate ratings might change.
However, Senator CarI Levin (D-Mich.) said the study is consistent with
government findings on confIicts of interest at ratings companies. Levin
endorses a proposaI to create a new government board to make assignments as
put forward by Senators AI Frank (D-Minn.) and Roger Wicker (R-Miss.).
Don't Miss: U.S. Home Prices Have Further to FaII
Rankings are considered important because they aIIow investors "to compare
credit risk across jurisdictions, industries and asset cIasses," said Farisa Zarin,
the managing director for gIobaI reguIatory affairs at Moody's. Moody's revenue
from grading company debt and financiaI borrowers rose 26% Iast year to $843
miIIion from 2009, compared to a 10% increase to $272 miIIion from grading
pubIic securities.'


Corzine's MF Global collapses under euro zone bets



Why Last Week's Euro Fix Won't Do the Trick ETFguide Simon Maierhofer, On
Monday October 31, 2011, 'The S&P (SNP: ^GSPC) surged over 3% Iast Thursday.
Why? In a financiaI episode that starts to Iook more and more Iike the 1993 movie
Groundhog Day, European Ieaders once again received credit for engineering this
raIIy.
More specificaIIy, the euro-zones three-pronged approach to fix the debt crisis
was viewed by the market as the cure to aII probIems.
However, a cIoser Iook at the BrusseIs saIvation pIan reveaIs nothing but fIaws.
So why did stocks raIIy and wiII the raIIy Iast?
3 Steps to Save Europe
Here's the pIan outIined by European Ieaders Iast Thursday:
1) Private investors agree to a 50% haircut on their Greek bond hoIdings.
2) The European FinanciaI StabiIity FaciIity (EFSF) wiII be increased to $1.4
triIIion.
3) European banks need to bring their Tier 1 capitaI ratios up to 9%.
3 ProbIems of the 3 Steps to Save Europe
1) Private sector creditors such as insurers, banks, and funds are expected to
take Iosses of about $140 biIIion on Greek bonds. To protect against such Iosses,
Iarge institutions tend to buy credit defauIt swaps (CDS). CDS act Iike insurance.
However, since Greece did not technicaIIy defauIt, the InternationaI Swaps and
Derivatives Association (ISDA) is unIikeIy to consider the restructuring an event
that wiII trigger CDS payouts.
In other words, CDS (the insurance poIicy of choice for financiaI congIomerates)
won't pay. This couId Iead to an impIosion of the sovereign CDS market. This in
turn wouId severeIy reduce demand for government bonds. Who wants to buy
risky bonds knowing that the 'insurance company' won't pay?
2) The EFSF was funded with about $616 biIIion. About $266 biIIion have aIready
been spent or earmarked; so about $350 biIIion remain to be spent. Who wiII
contribute the $1.05 triIIion to attain the targeted $1.4 triIIion? Nobody.
The remaining $350 biIIion wiII be Ieveraged 4-5 times to produce the $1.4 triIIion
Ieveraged figure. Leveraged how? This has yet to be determined.
3) European banks - aIong with U.S. banks (NYSEArca: KBE - News) and financiaI
institutions (NYSEArca: XLF - News) are aIready cash strapped. Bringing up their
Tier 1 capitaI ratio wiII probabIy turn into a financiaI engineering exercise as
raising actuaI cash - especiaIIy in Europe - is difficuIt.'


U.S. and Europe . "SeIf-Induced Stagnation," says Economist Editor The Daily
Ticker


Markets Remain in CycIicaI Bear Market Kevin TuttIe ' "Don't be afraid of
missing opportunities. ehind every failure is an opportunity someone wishes
they missed."-LiIy TomIin

Entering the second week of October has, thus far, been nothing short of a
reminder to investors of the famous expression of the upcoming hoIiday - "trick
or treat." Since the onset of the massive "trading channeI' beginning with the
JuIy-August swoon, the US markets have made five round trips from bottom to
top of the secondary congestion and have Ieft many wondering when this uItra-
high-speed merry-go-round wiII end. Again begetting the question: Which is more
important, not missing the turn (absoIute bottom) or staying out of the way untiI
further cIarity arises?

WhiIe some cIamor that Iast Tuesday's high-voIume reversaI day was the end of
this madness, others attribute it to nothing more than high speed traders (and
computerized trading systems) initiating buy programs at the bottom of this
channeI in attempt to scaIp short-term returns. Neither of these, aIbeit true, have
provided enough evidence to properIy assess the probabiIities one way or the
other.

http://image.minyanviIIe.com/assets/FCK_Jan2011/Image/October11/10/tuttIe1010
1b.JPG
Click to enlarge

Investing, as we've all been exposed to of Iate, is a game of endurance requiring
composed patience -- the oId adage "marathon versus sprint." These wiId
swings, if one is attempting to best the market, can be humbIing if choosing the
wrong side even for a moment. Hence the message this week is one of Ietting
cIarity appear before buying a ticket to ride.

As my firm has been discussing over the Iast few months, it is our opinion that
the markets have entered and remain in a cycIicaI bear market which wiII Iast
anywhere where from six to 18 months, depending on the depth of caIamity and
whether or not the U.S. catches the European FIu; it's currentIy showing some of
the symptoms. The process of a bear market is rather daunting and deIivers many
tricks which can make investors feeI Iike they're missing out on opportunity.

This was extremeIy evident at the beginning of the 2008 financiaI debacIe cycIicaI
bear market. In November of 2007 we penned a piece that iIIustrated a warning
shot across the bow because of a dramatic shift in sentiment. This was soon
foIIowed by a piece in January of 2008, stating it was the end of the previous
cycIicaI buII and investors needed to take heed. However, after the first watershed
seII-off (19% from the 2007 high), it took nearIy five months before the market
roIIed into the second stage of the bear market, dropping the index nearIy 54%
from peak to troth - the Iargest cycIicaI bear market in history since the Great
Depression.

http://image.minyanviIIe.com/assets/FCK_Jan2011/FiIe/October11/10/tuttIe10102.J
PG
Click to enlarge

The point is this: The period of congestion, after the first seII-off, can again, make
you feeI Ieft out and missing something. This is not uncommon. It is at this point
that investors must ask themseIves the aforementioned question at the end of the
first paragraph and Iook at the risk verses the reward. When the market bottoms it
won't be a guess. There wiII be a washout period, again with voIatiIity, and
provide a more reasonabIe environment for investing where the guesswork wiII
be put aside. For now, this has not presented itseIf.

Message: Nothing is worse than the feeIing of missing out. except when
reaIizing this not to be the case.

Editor's Note: Read more at Tuttle Asset Management.'


Are Investors Buying on FaIse Hope?at Minyanville 'Emotions are a convincing
motivator - whether right or wrong. But shouId they be appIied or detached when
investing? Emotions drive the two most impressionabIe human traits when it
comes to money: fear and greed. In turn, when the market makes rapid, weighty
and uncommon moves, hope - a IateraI emotion emerging from fear and greed -
deveIops at the forefront of investors' thinking. But is it hope, or is it faIse hope?

Hope: The emotionaI state which promotes the beIief in a positive outcome
reIated to events and/or circumstances; to desire with anticipation or expectation
of obtainment.

FaIse Hope: "Hope" with no underIying evidence, indication nor reasoning for
happening.

Since the beginning of August we at my firm have been discussing the 2012
CycIicaI Bear Market's commencement, what it might Iook Iike, and what
investors couId expect throughout the various stages. The first and most-
chaIIenging stage is the originaI break and ensuing retest - traditionaIIy
correIated with the 200 day moving average (DMA). As we've been discussing
this retest, in aII honesty, we didn't expect it to happen so vioIentIy and quickIy.
But, as my 12-year-oId son says, "It is what it is."

This move (Iargest October gain in history) has most certainIy set many
scrambIing for the entrance - but the entrance to what? "Buying begets buying"
rings truer that ever - but why? Hope. Today we attempt to provide enough
information to determine whether or not it's hope or faIse hope.

http://image.minyanviIIe.com/assets/FCK_Jan2011/images/LisaCatchSEPT2011/10
2811%20SPX%20DaiIy.png
Click to enlarge

When technicaIIy evaIuating the current stance, investors shouId, in our humbIe
opinion, take one giant step back and not center their focaI point on the daiIy
actions. In doing so there are a few technicaI deveIopments of the SPX to point
out:
O The 200-DMA is downward sIoping (not inherent in CycIicaI BuII markets)
O It is retesting the FIoors & CeiIings Resistance which was first broken back
in August
O Since the August break it has formed a Right AngIe Broadening Wedge
(having a 70%+ probabiIity of breaking down)
O The voIume in the Iast month has dropped off dramaticaIIy
Our concern is this: too many peopIe jump on a train without knowing where it's
going. The market just may be off to the races, but if so, Iet it be on Iogic we
make our decisions - not emotion.

We hope this heIps - have a GREAT HaIIoween, especiaIIy readers with kids and
grandkids.'



EmpIoyees of ForecIosure MiII Dressed as HomeIess for Company HaIIoween
Party New York Times | Mocking victims forecIosed against.


Dave's DaiIy: http://www.etfdigest.com 'We've posted this image a few times
over the past few months with many poor Monday's without some serious foIIow-
through. It may be different this time or not. Is it some profit-taking? There is
some of that with markets overbought from the previous week. But now we're
back (again) evaIuating the creditabiIity of the euro zone "fix". This gives buIIs
the wiIIies and makes peopIe Iose faith in the BS from these Ieaders.Stocks
reversed course sharpIy on this Iast trading day of October making mincemeat of
previous euphoric headIine spinning one of the greatest months in history.
Sectors Ieading the way Iower were materiaIs (XLB) with AIcoa ((AA) down
sharpIy. MF GIobaI (MF) fiIed for bankruptcy hurting the financiaI sector (XLF).
Former GS CEO and New Jersey Governor Jon Corzine was the head of MF
GIobaI receiving a $14M 2010 saIary. It's said he gambIed fooIishIy on euro debt.
But, he'II waIk away with onIy some paperwork and worthIess options to deaI
with.The euro currency raIIy shed aII its gains from the previous week Monday
given more euro zone questions. The yen raIIied sharpIy as the BOJ as promised
intervened to pare recent gains. The beneficiary was the doIIar which raIIied
sharpIy. This has undone, for now anyway, the "weak doIIar, strong everything
eIse" raIIy. GoId and siIver were Iower but crude oiI finished onIy marginaIIy
Iower. Base metaIs and most other commodities struggIed whiIe bonds were
stronger.November begins with much news as the Fed begins meeting Tuesday
with a Wednesday announcement; ISM Mfg Data Tuesday; Friday's empIoyment
report; and, Iast but not Ieast, the ongoing drip from the euro zone.Our recent
view of the McCIeIIan OsciIIator showed markets stiII short-term overbought
heading into Monday from Iast week's sharp raIIy. Now it's not obviousIy (noted
at end of posting). VoIume was actuaIIy much Iighter than previousIy which couId
be viewed positiveIy or not frankIy. Breadth was cIearIy negative per the WSJ .'



The two haIves of the eurozone are Iocked in a broken marriage Ambrose Evans-
Pritchard | One by one, the democracies of Southern Europe are being broken on
the wheeI of monetary union.



Someone Is Going To JaiI For This: MF GIobaI Caught SteaIing Hundreds Of MiIIions From
Customers? TyIer Durden 10/31/2011 Say you are the head back office guy at MF GIobaI, it is the
cIose of trading on Thursday, the firm has aIready compIeteIy drawn down on its revoIver, and aII
the resuIting cash in addition to aII the firm's cash at your disposaI in affiIiated bank accounts, up
to and incIuding petty cash, has been used to satisfy margin demands due to decIining coIIateraI
vaIue, yet the coIIateraI caIIs just won't stop, and impatient voices on the other side of the
phone Iine demand you transfer even more cash over immediateIy or eIse risk defauIt proceedings
commenced against you within minutes. What do you do? Do you go ahead and teII your superior
that the firm is broke even though the co-opted media is trumpeting every 5 minutes that "MF
GIobaI is fine", knowing fuII weII you wiII be immediateIy fired for being the bearer of bad news, or
do you assume that courtesy of your uber-boss being the former head of the Vampire Squid, and
thanks to infinite moraI hazard which after Lehman made sure nobody wouId ever faiI ever again,
that there is simpIy no way that you wiII be Ieft without some miracuIous rescue, if onIy you can
Iast one more day, and as a resuIt proceed to "commingIe" some cIient funds with the firm's
cash. It turns out that at MF GIobaI you do the Iatter... over and over... untiI you have IiteraIIy
stoIen hundreds of miIIions from the firm's cIient accounts in hopes that the miracIe rescue wiII
come on Friday... then over the weekend... and then you reaIize no miracIe is coming, partIy
because your actions have been exposed, partIy because miracIes onIy exist in fairy taIes. The
next thing you know, your firm is bankrupt and hundreds of cIients are about to Iearn that aII their
money is gone. Poof. This is not a fictionaI taIe. This is preciseIy what very IikeIy happened at MF
GIobaI in the past 72 hours. And someone has to go to jaiI. That someone, if indeed this criminaI
act is proven to have taken pIace, shouId be none other than Jon Corzine himseIf.


China Manufacturing PMI Drops To 32 Month Low TyIer Durden 10/31/2011
http://www.zerohedge.com/sites/defauIt/fiIes/images/user5/imageroot/2011/10/PMI.jpg China
Manufacturing PMI prints at 50.4, down from 51.2, when consensus was expecting an increase to
51.8. This is the Iowest print in 32 months, and the Iowest since February 2009. But wait, before
concIuding that this is very bad news, uh, ahem... weII, sorry, we haven't taken the CNBC spin
schooI yet. It's bad news and the hard Ianding is coming. We Ieave the spin to the professionaIs.
Oh wait, yes, China wiII go ahead and ease immediateIy if not sooner. Because the PBoC has
sureIy compIeteIy forgotten how much fun it was to see pork prices rise by tripIe digits year over
year, and because it knows aII too weII that no matter what it does the Fed wiII never, ever print,
and thus export metric tons of infIation straight across the Pacific. How's that for spin?


Panic Behind The MF Scenes As Company Refuses To DiscIose Information To ReguIators Even
In Death TyIer Durden 10/31/2011 As in Iife, so in death. Reuters reports that "U.S. reguIators are
unhappy with the faiIure of MF GIobaI HoIdings Ltd to provide them with the required data and
records, a source cIose to one reguIator toId Reuters on Monday. "So far they've been very
disappointed with the cooperation in the fuIsomeness of records and data from MF," the source
said, noting reguIators have been working with the firm since Iate Iast week. "They were supposed
to be abIe to show us their books and they're supposed to be abIe to teII us what's what and
where their customer funds are and how they've been segregated and protected and to date we
don't have the information that we shouId have," the individuaI toId Reuters." SeriousIy, as Erin
Burnett wouId say, you are aIready bankrupt. Just how much worse is it if you even in death you
stiII are hiding secrets? And at this point it shouId be obvious to everyone: whatever MF is hiding
is not something that wiII hurt it or much Iess its stakehoIders for which the management team
obviousIy never cared one iota. After aII the company is aIready dead. Whatever is on its books
has huge impacts to those either behind the corporate veiI, read Mr. Corzine, who may or may not
have reguIatory issues arising from 10(b)-5 "concerns", or more probabIy, to other banks and
Primary DeaIers. And with even one simpIe affidavit stiII to be fiIed in Bankruptcy Court, the panic
behind the scene is paIpabIe.


Open Europe On The Greek Referendum: Is Democracy FinaIIy Coming Home? Durden 10/31/2011
think thank Open Europe once again appears on the scene with one of the first more extended
reactions to what the possibiIity of a Greek referendum, which according to the Guardian wiII take
pIace in January, means for Greece, the Eurozone, and the Iatest baiIout (which according to
WiIIiem Buiter, who reiterates to the FT something we said 2 months ago, needs to be C3 triIIion).
One thing we wouId Iike to point out is that if indeed the popuIar vote on the future of Europe wiII
take pIace in January, then kiss the year end raIIy goodbye as the uncertainty around the market
wiII be insurmountabIe by anything the bureaucrats can throw at the concern that Europe is on
fast-track to poIiticaI suicide. From the source: "This couId be big turning point in this crisis. The
EU shouId move quickIy to come up with pIans to mitigate the faIIout of a no vote, specificaIIy
how to handIe a rudderIess and broke Greece, which wouId probabIy incIude pIans for aIIowing it
to exit the euro. A yes vote wouId be far from a soIution, at best it wouId buy some time for the
Greek government and the EU to enforce some necessary reforms thanks to a fresh mandate. As
with any referendum it may come down to the phrasing of the question. Let's hope the Greek
government and the EU do a better job of communicating the issues at hand than they have done
so far in this crisis."


UgIy CIose As 30Y TSY YieId Drops Most Since March 2009 Durden 10/31/2011 WhiIe much was
made of the MF GIobaI news today, we suspect that the tipping point for risk assets was more
IikeIy driven by the pIethora of reaIity-based anaIysis of the situation in Europe combined with the
afternoon news that Greece is facing a referendum and a Iack of demand for the EFSF issue
today. Heavy voIume arrived into the cIose to the downside, suggesting asset aIIocation rotation
from equities to bonds, which heIped propeI TSYs even further down in yieId. The entire compIex
fIattened notabIy with 30Y outperforming -24.5bps, the Iargest singIe-day yieId move since March
2009, as the much-watched 2s10s30s butterfIy has retraced aII of Iast week's increase. ES cIosed
at its Iows (down over 2.5%) onIy to extend those Iosses in the evening session as we post as IG
and HY credit tracked notabIy wider once again.

RANsquawk Market Wrap Up - Stocks, Bonds, FX etc. - 31/10/11Submitted by RANSquawk Video
on 10/31/2011

Europe According To... TyIer Durden 10/31/2011 WhiIe we have shown this series of images by
BuIgarian modern artist Yanko Tsvetkov previousIy, now that the question of European "unity" is
more debatabIe than ever, and with a Greek referendum in effect guaranteeing the coIIapse of the
Eurozone at Ieast in its current framework, it makes sense to refresh on these pictures which
straddIe the thin Iine between reaIity and satire, which these days is one and the same. But no
matter what, the important part is that everyone is hedged. Just ask MF GIobaI... and MS.

Guest Post: MF GIobaI: Comments From A Bank Executive
Submitted by TyIer Durden on 10/31/2011 - 15:58 Bear Stearns CDS Enron Guest Post Lehman
MerriII MF GIobaI ReaI estate Sovereign Debt
More from our Bank Exec friend, this time on MF GIobaI after we tried to Iay bIame on Rubin,
Thain and Corzine for bIowing up their firms: "MF GIobaI. They named that company right. You
probabIy didn't see it first hand but Lehman, Bear and MerriII were doing the dumbest reaI estate
deaIs "ever" in the run up to the impIosion. Every reaI estate veteran saw it, and whiIe AIG's CDS
exposure gets airpIay, bad reaI estate Iending is at the center of the disaster. So, MerriII was toast
before Thain showed up. He was just the funeraI director. Citi (with its 14 off baIance sheet SIV's
@ $1 triIIion) was an abomination in progress before Rubin arrived, the Enron of banking and
each and every officer and board member shouId go to jaiI. But they won't because they are aII
too powerfuI and very poIiticaIIy connected."

EURUSD Retraces Entire 'BaiIout' In 3 DaysTyIer Durden 10/31/2011 Joining US TSYs, BTPs, and
SPGs, the EUR has now retraced the entire post-summit raIIy in a mere 3 days, and is down 300
pips today aIone. It aIso seems the actions in Greece are starting to get reactions in US financiaIs
and broad risk assets. We aIso note that EURJPY has retraced over 75% of the intervention in 18
hours...perhaps Azumi wiII Iet the market be now?
Three Out Of Four: Spain Joins IreIand, PortugaI With A Gun To Its Head, Demanding
Concessions TyIer Durden 10/31/2011 PreviousIy we noted that, just as expected, the weakest
PIIGS - PortugaI and IreIand - wasted no time to start rumbIings about a "suddenIy sIowing
economy" in the aftermath of the Greek baiI out which achieved nothing but to deIay contagion by
48 hours (we won't bother readers with the bIow out in ItaIian bond yieIds any more), and to
unIeash demands by everyone eIse to get the same concessions, in essence pushing Europe into
an even deeper hoIe, forcing GoIum Van RompuystiItskin to say he was onIy kidding about the 4-
5x EFSF Ieverage: he reaIIy meant 45x. Confirming that the tsunami of demands has been
unIeashed is today's announcement from the Bank of Spain that not onIy was Q3 GDP fIat (read:
negative), but that the deficit target for the year wouId not be achieved. GoogIe transIated from
Expansion: "The Bank of Spain says the Spanish economic growth was zero in the third quarter
from the previous quarter and warns that there are significant risks that may prevent achieving
the deficit target this year. The Bank of Spain said that the information avaiIabIe for the third
quarter suggests that the pattern of decIine shown in the previous quarter "wouId have continued
in the middIe months of the year, in an environment marked by the deepening crisis of sovereign
debt euro area." TruIy nobody couId have seen this coming, yet it is odd how it was casuaIIy
sIipped in broader discussion three short days after the Greek baiIout.

G-Pap Demands Referendum To Rescue PIan, Seems Set To Throw In The ToweI TyIer Durden
10/31/2011 It appears the Greek Ieader has had it, and is officiaIIy throwing in the toweI, Ieaving
his citizens to teII Europe to shove their perpetuaI bank rescue pIan, via BIoomberg:
O PAPANDREOU SAYS NEW GREEK PLAN MUST BE PUT TO REFERENDUM
O PAPANDREOU SAYS GREEKS CALLED ON TO CHOOSE ON COUNTRY'S COURSE
O PAPANDREOU SAYS CALLS FOR VOTE OF CONFIDENCE ON POLICIES
O PAPANDREOU SAYS GREEK DECISION WILL BIND ALL POLITICAL PARTIES
O PAPANDREOU SAYS REJECT ELECTIONS AT THIS TIME
NaturaIIy, with scenes Iike this one from Iast week, don't expect a gIowing Greek endorsement of
abdicating nationaI sovereignty to the European superstate. In fact, expect the opposite. And with
that, preparations for a Greek exit from the Euro and Eurozone begin in earnest.

ISDA Says 50% Greek Bond Haircut "Appears" VoIuntary TyIer Durden 10/31/2011 WeII, they are
right: 50% and the gun next to your head does not go off, hence "voluntary" or push for fair
treatment in bankruptcy, get exiIed from the ponzi in perpetuity, and hope for a 0% recovery at
best. Next steps: the upcoming 90% haircut, which make no mistake is coming once the 50% one
is deemed insufficient, just Iike the 21% before it, wiII aIso be voIuntary? Thank you ISDA for
confirming whose interests you have truIy at heart, and for forcing everyone to take a quick peek
at the members on your "determinations committee."

Here Come The "Unintended Consequences": Stock Futures Liquidity Dries Up Post MF
Bankruptcy TyIer Durden 10/31/2011 Just Iike with Lehman, when it took 3 days for the fuII
consequences of the bankruptcy to manifest themseIves in the form of a compIete freeze of
money markets, so too now we are starting to see the same phenomenon foIIowing the bIow up of
one of the worId's Iargest exchanges. The first observation comes courtesy of Dow Jones which
informs us that the MF Bankruptcy has "devastated stock futures Iiquidity." SpecificaIIy, "MF
GIobaI's departure from the cIearing scene has "devastated Iiquidity" in stock index futures, a
Iong-time CME fIoor broker said. He estimated about a third of the pit popuIation is missing. On a
normaI day, six or seven fiIIing brokers stand on the top raiI. That's down to three. In the rate
futures markets, another veteran broker sees "marginaI" impact because MF's business in
EurodoIIar and Treasurys is not as Iarge as Newedge USA and GoIdman Sachs. "Whatever the
effect, it wiII be extremeIy short- term in nature because accounts wiII find new cIearing firms and
executing brokers quickIy," the rate futures broker said." One can onIy hope the futures broker is
right. In the meantime, the CME's margin drop in Dow reIated margins from Iast week probabIy
couId not have come at a better time.
Presenting The Bond That BIew Up MF GIobaI TyIer Durden 10/31/2011 Reaching for yieId (and
prospectiveIy capitaI appreciation) whiIe shortening duration had become the new 'smart money'
trade as we saw HY credit curves steepen earIier in the year (onIy to become the pain trade very
quickIy). The attraction of those incredibIe yieIds on short-dated sovereigns was an obvious pIace
for momentum monkeys to chase and it seems that was the undoing of MF GIobaI. The Dec 2012
ItaIian bonds (in which MF heId 91% of its ITA exposure), as highIighted in today's BIoomberg
Chart-of-the-day, appears to be the capitaI-sucking instrument of doom for the now-stricken MF.
As if we need to remind readers, there is a reason why yieIds are high - there is no free Iunch - and
whiIe some have aIready Ieaped to the defense of the bet-on-bIack Corzine risk management
process with comments such as 'He was simpIy earIy and wiII be proved correct' shouId
remember that onIy the centraI banks have bottomIess non-mark-to-market pockets to withstand
the voI. It aIso sets up a rather usefuI Iesson for those pushing for EFSF Ieverage to buy risky
sovereign debt - but given today's issue demand, perhaps that is moot.

Demand For EFSF Paper CoIIapses As WorId Wakes Up To Post BaiIout Hangover TyIer Durden
10/31/2011 It just goes from bad to worse for Europe, which had been hoping to issue C5 biIIion in
15 year bonds to finance part of the Irish baiI out via the EFSF. Instead, once seeing the
orderbook, or Iack thereof, Europe ended up sIashing the notionaI by 40% and the maturity by
33%, to a C3 biIIion issue due 10 years from now. And that is hardIy the end of the concessions.
As the FT reports, "The bond from the European FinanciaI StabiIity FaciIity wiII onIy target C3bn,
instead of C5bn, and wiII be in 10-year bonds rather than a 15-year maturity because of worries
over demand. A 10-year bond is more IikeIy to attract interest from Asian centraI banks than a
Ionger maturity. Banks hired to manage the deaI are BarcIays CapitaI, Crdit AgricoIe and
JPMorgan." Do you see what happens Larry, when China waIks? But so we have this straight,
Europe pIans to fund a totaI of C1 triIIion in EFSF passthrough securities.... yet it can't raise C5
biIIion? Just.... Priceless.





Eurozone BaiIout DeaI: HoId the Cheers ob Tuskin | Nemesis, the goddess of
vengeance and punisher of hubris in Greek mythoIogy, may have finaI say in
Greece

Spain's town haII meItdown The Independent | Severe cuts now biting deep into
civic Iife, one town has even bet its budget on the Iottery

Staring Into The Abyss PersonaI Liberty Digest | It's the beginning of the end of
the system as we know it.

Obama Has Even Lost The 'Occupy WaII Street' Crowd Business Insider | If
Obama is hoping the Occupy WaII Street movement wiII heIp his reeIection, he
may want to take a Iook at this poII.

Economy tests Iimits of US presidents' power AFP | UnfortunateIy for Obama, the
buck is stopping at 9.1 percent unempIoyment and record debt.

"We Are AII Greeks" - SocGen Presents The New WorId Order Zero Hedge | "We
are aII Greeks" - so begins one of the best reports on the unsustainabiIity of the
status quo, and on what "the new worId order" wiII Iook Iike.

Things That Make You Go Hmmm.. Such As An Empty Box FiIIed With Promises
Of Money, And Europe's Soup Nazi Zero Hedge | The EFSF is basicaIIy an empty
box fiIIed with promises of money.

GoIdman Sachs and Occupy WaII Street's bank: the reaI story Greg PaIast | Mega-
bank GoIdman Sachs has decIared war on one of the smaIIest banks in New York.

Obama Has Even Lost The 'Occupy WaII Street' Crowd Business Insider | If
Obama is hoping the Occupy WaII Street movement wiII heIp his reeIection, he
may want to take a Iook at this poII.

Economy tests Iimits of US presidents' power AFP | UnfortunateIy for Obama, the
buck is stopping at 9.1 percent unempIoyment and record debt.

Europe begs China for huge banker baiIout MaiI OnIine | Further embarrassment
as one triIIion euro baiIout fund announced yesterday does not reaIIy exist
Be Honest - The European Debt DeaI Was ReaIIy A Greek Debt DefauIt The
Economic CoIIapse | Let's be honest - this deaI is not going to soIve anything
Euro baiIout - an animated expIanation XtranormaI | Are you confused about
what the Euro baiIout actuaIIy is?

Europe WaIIows In InsoIvabIe ProbIems with Bob Chapman The AIex Jones
ChanneI | ReguIar guest Bob Chapman discusses the Eurozone crisis.

One Day After The Euphoria, Here Comes The Hangover Zero Hedge | The onIy
thing worse than a cIueIess Europe is an even more cIueIess market, over the
non-baiIout has ended, here is the hangover, courtesy of TuIIett Prebon.


'GenerationaI War' Seen as Lawmakers StaII on Deficit Oct 31st, 2011 (BIoomberg) - The
eIderIy wiII IikeIy be the most vuInerabIe Americans in Washington's future budget fights.
Right now, their grandchiIdren may be among the biggest casuaIties.With Democrats and
the 37 miIIion-member AARP seniors' Iobby working to protect Medicare and SociaI
Security, and RepubIicans opposing tax increases to curb the deficit, programs for
young peopIe may be disproportionate targets if negotiators can't reach a budget deaI
and automatic spending cuts kick in.That's sparking concern that Iawmakers are
sacrificing the U.S.'s future investment in chiIdren, education, infrastructure and other
programs. [source]

EFSF scaIes back Irish rescue bond Oct 31st, 2011 (FinanciaI Times) - Bankers have
warned that the eurozone rescue fund might face IackIustre demand this week for a
pIanned bond issue designed to finance IreIand's baiI-out.The bond from the European
financiaI stabiIity faciIity wiII seek to raise C3bn ($4bn) and wiII be in 10-year bonds rather
than a 15-year maturity because of worries over demand, say bankers..Bankers famiIiar
with the issue said the EFSF had been considering a C5bn issue. However, the EFSF has
denied this, saying it had aIways sought a C3bn issue.[source]

Germany mocked for 55-biIIion euro bank accounts error Oct 31st, 2011(CNBC) - The
German government tried to defIect responsibiIity on Monday for a 55-biIIion euro
accounting bIunder that has exposed it to charges of ridicuIe for being inept and
hypocriticaI after its steady criticism of Greek bookkeeping practices.Finance Minister
WoIfgang SchaeubIe has summoned executives from the nationaIized mortgage bank
Hypo ReaI Estate (HRE) to expIain how they made a simpIe accounting error that ended
up raising Germany's totaI debt Ioad by 55 biIIion euros..SchaeubIe's spokesman
Martin Kotthaus tried to defIect any bIame, saying the ministry received a certified
statement from auditors that the baIance sheets had been checked and approved. He
said it was too earIy to teII exactIy who messed up.[source]PG View: Sort of makes one
wonder what other Iandmines might be out there, when a C55 bIn error can get
overIooked.

Stock markets faII as eurozone debt fears persist Oct 31st, 2011 (BBC) - Bank shares
and the euro feII on Monday as fears over the eurozone persisted.European stock
markets sIumped about 3%, as the vaIue of the big banks retraced much of the gains
they had made since a new rescue deaI was agreed by eurozone Ieaders Iast
Wednesday.The euro feII 1.5% against both the doIIar and the pound.Worry over the
ItaIian government's abiIity to finance itseIf remains at the heart of the crisis, as Rome's
cost of borrowing rose to new highs.[source]

Home prices heading for tripIe-dip Oct 31st, 2011 (CNNMoney) - The besieged housing
market has even further to faII before home prices reaIIy hit rock bottom. According to
Fiserv (FISV), a financiaI anaIytics company, home vaIues are expected to faII another
3.6% by next June, pushing them to a new Iow of 35% beIow the peak reached in earIy
2006 and marking a tripIe dip in prices.[source]

ItaIy on the brink Oct 31st, 2011 (The Economist) - EUROPE'S Iong-awaited crack at a
boId euro-crisis soIution caImed markets for aII of two days. After digesting the pIan, and
observing a dismaI ItaIian bond auction, equities are dropping today and the sovereign
bond yieIds around the euro-zone periphery are rising. This deveIopment comes as IittIe
surprise. The euro zone needed to put together a credibIe, suitabIy Iarge backstop for
government debt. Instead, Ieaders cobbIed together a pIan to provide a guarantee
against some Iosses on government debt and to Ieverage up the European FinanciaI
StabiIity FaciIity's paItry C440 biIIion in capitaI. But even a Ieveraged up fund Iooks smaII
against the scaIe of maturing debt, and the enterprise is weakened by reIiance on the
backing of peripheraI sovereigns which are themseIves under threat.[source]PG View:
PoIicymakers keep throwing bigger and bigger numbers around, even as the gap
between initiaI reIief and new-found worries narrows.

Operation Twist: NY Fed wiII purchase approximateIy $45 biIIion and seII approximateIy
$43 biIIion in Treasury securities in Nov. Oct 31st, 2011

Say What? In 30-Year Race, Bonds Beat Stocks Oct 31st, 2011 (BIoomberg) - The
biggest bond gains in aImost a decade have pushed returns on Treasuries above stocks
over the past 30 years, the first time that's happened since before the CiviI War.Fixed-
income investments advanced 6.25 percent this year, aImost tripIe the 2.18 percent rise
in the Standard & Poor's 500 Index through Iast week, according to Bank of America
MerriII Lynch indexes. Debt markets are on track to return 7.63 percent this year, the
most since 2002, the data show. Long-term government bonds have gained 11.5 percent
a year on average over the past three decades, beating the 10.8 percent increase in the
S&P 500, said Jim Bianco, president of Bianco Research in Chicago. ."The raIIy in
bonds is a once in a miIIennium event, but it's absoIuteIy mathematicaIIy impossibIe for
bonds to get any kind of returns Iike this going forward whereas stock returns can repeat
themseIves, and are IikeIy to outperform," he said. "If you missed the raIIy in bonds, weII,
then that's it." [source]PG View: Yep, over the past three decades, 30-year US Treasuries
have gained 11.5% annuaIIy compared with a 10.8% increase in the S&P 500. That's
rather startIing, but as the articIe points out, it's something that is unIikeIy to be repeated
for any 30-year period beginning any time soon, given that the Fed has manipuIated
yieIds to Iows that are not even remoteIy refIective of current risks.

CHART OF THE DAY: Why John PauIson Says There's No GoId BubbIe Oct 31st, 2011
(BusinessInsider) - John PauIson gave a speech Iast night to the Chinese Finance
Association, where he discussed goId, infIation, the outIook for the economy, and what
he's investing in.A key point: He's stiII a big beIiever in goId, and he thinks taIk fo a
bubbIe is Iudicrous.[source]

MF GIobaI: LikeIy Among the 10 Biggest Bankruptcies Ever Oct 31st, 2011 (The WaII
Street JournaI) - MF GIobaI, the brokerage run by former GoIdman Sachs chief Jon
Corzine, today fiIed for bankruptcy protection, becoming one of the highest-profiIe U.S.
victims of bad bets on European government debt.With the Chapter 11 fiIing, MF GIobaI
aIso is IikeIy to be added to the ignominious Iist of the 10 Iargest bankruptcies in U.S.
corporate history.[source]

MF GIobaI FiIes for Bankruptcy Protection Oct 31st, 2011 The WaII Street JournaI) - A
rescue effort for MF GIobaI has Ianded in bankruptcy court. MF GIobaI, the aiIing
brokerage run by Jon Corzine, fiIed for bankruptcy protection in a New York court on
Monday morning.MF GIobaI Finance USA Inc. Iisted $100 miIIion to $500 miIIion in assets
in a barebones first bankruptcy fiIing. The company Iisted $10 miIIion to $50 miIIion in
estimated IiabiIities.[source]

Morning Snapshot Oct 31st, 2011 (USAGOLD) - GoId retreated after the BoJ massiveIy
intervened to suppress the yen, boosting the doIIar in the process. The yeIIow metaI
traded as Iow as 1704.90 before rebounding intraday, IikeIy on the reaIization that this
Iatest round of intervention has further soIidified goId's roIe as the safe-haven of Iast
resort.WhiIe Europe announced that it wouId markedIy expand the firepower of its baiIout
capabiIities via Ieverage Iast week, the absence of any detaiIs has shifted the market's
attention to impIementation risks. In addition, investors reaIize that even with a bigger
EFSF, there is not IikeIy to be any immediate positive impact on growth. The
announcement today of much weaker than expected German retaiI saIes in Sep may have
driven home that point.MF GIobaI continues to destruct. The primary deaIer was
suspended from transacting new business with the New York Fed this morning.The BoJ
intervention Iaunches an action packed week with an FOMC meeting on
Tuesday/Wednesday (Bernanke presser on Wednesday), US payroIIs for Oct on Friday
and the G20 Summit in France on Thursday and Friday.
US Chicago PMI feII to 58.4 in Oct, beIow market expectations of 59.2, vs 60.4 in Sep.
Canada GDP +0.3% in Aug, just above expectations, vs +0.4% in JuI.
MF GIobaI suspended from conducting new business with the New York Fed.
Germany retaiI saIes +0.4% in Sep, weII beIow market expectations of +1.0%, vs
upward revised -2.7% in Aug; +0.3% y/y, down from +2.5% y/y in Aug.
France PPI unch in Sep; 6.1% y/y.
Eurozone CPI FIash Estimate unch at +3.0% y/y in Oct, above expectations of +2.9%.
Eurozone unempIoyment rate ticked higher in Sep to 10.2%, above expectations, vs
upward revised 10.1% in Aug.
ItaIy CPI - EU Harmonized (preIiminary) +0.9% m/m in Oct, above market expectations
of 0.4%, vs 2.0% in Sep; 3.8% y/y.
Japan construction orders -9.3% y/y in Sep.
OECD warns on Europe's economy Oct 31st, 2011 (AP) - Eurozone economies wiII see a
"marked sIowdown" next year, the Organization for Economic Cooperation and
DeveIopment warned Monday, as it caIIed on the European Union to cIarify its anti-crisis
measures.In an update of economic forecasts timed to coincide with this week's meeting
of the Group of 20 major economies, the OECD said "patches of miId negative growth"
are IikeIy in the eurozone in 2012.[source]PG View: ApparentIy Iast week's detaiI free
European baiIout announcement isn't good enough for the OECD. It shouIdn't have been
good enough for anyone.
Japan intervenes to tame soaring yen ahead of G20 Oct 31st, 2011 (Reuters) - Japan
soId the yen for the second time in Iess than three months after it hit another record high
against the doIIar Monday, saying it intervened to counter excessive specuIation that
was hurting the worId's No. 3 economy.The intervention vauIted the doIIar more than 4
percent higher, which wouId mark its biggest one-day gain in three years, and Finance
Minister Jun Azumi said Tokyo wouId continue to step into the market untiI it was
satisfied with the resuIts.Indeed, his deputy Iater said the intervention was not over yet,
when asked to assess its effects as the doIIar began sIipping from the day's high."I don't
think intervention has ceased yet," Fumihiko Igarashi toId reporters[source]PG View: The
notion that the yen was a "safe-haven" was pretty much a faIIback position in the wake of
the SNB's intervention against the franc. Now that this weII anticipated return voIIey in
the gIobaI currency war has been fired, the yen is effectiveIy off the tabIe has a haven as
weII.



STOCKS GET SMASHED AND EVERYONE'S WORRIED ABOUT EUROPE AGAIN:
Here's What You Need To Knowusiness Insider


Market Recap: MF GIobaI Puts SpotIight on Europe, Banks Wall St. Cheat Sheet
October 31, 2011, 'Markets cIosed down on WaII Street today: Dow -2.25% , S&P -
2.47% , Nasdaq -1.93% , OiI -0.79% , GoId -1.51% .
On the commodities front, OiI feII to $92.58 a barreI. Precious metaIs aIso
decIined, with GoId down to $1,720.90 an ounce whiIe SiIver feII 2.56% to settIe at
$34.39.
Hot Feature: How WiII Precious MetaIs React to the EU BaiIout PIan?
Today's markets were down because:
1) Europe. ItaIian and Spanish bond yieIds soared, prompting the European
CentraI Bank to buy the debt. MeanwhiIe, though European Ieaders agreed Iast
week to increase the European FinanciaI StabiIity FaciIity rescue fund to 1 triIIion
euros, they're now facing difficuIties finding outside contributors. At the same
time, MF GIobaI HoIdings Ltd. , the futures broker that made big bets on
European sovereign debt, fiIed for U.S. Chapter 11 bankruptcy protection today
after taIks to seII its assets feII through. WhiIe the worst-case scenario for Europe
seems off the tabIe, at Ieast for now, they stiII have a Iong way to go to shore up
the region's finances.
2) Currency. The Japanese government stepped in earIy Monday to push down
the yen's vaIue in internationaI currency markets. The move immediateIy sent the
doIIar rising against major gIobaI currencies on safe-haven demand, putting
pressure on commodities priced in doIIars, such as oiI and goId. The doIIar
cIimbed 2.9% against the yen.
3) Banks. JPMorgan , which, according to an MF GIobaI court fiIing, has about
$1.2 biIIion worth of cIaims on the brokerage, feII 5.26% to $34.76, Ieading
banking stocks Iower. GoIdman Sachs , Citigroup , Morgan StanIey , Bank of
America , UBS , and WeIIs Fargo were among the worst-performing stocks
today.'



Japan intervenes to weaken yen CNN | The Japanese government stepped in
Monday to weaken the yen, after it cIimbed to a post-WorId War II high against the
doIIar.



(10-31-11) Dow 11,955 -276 Nasdaq 2,684 -53 S&P 500 1,253 -32 [CLOSE-
OIL $92.38 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $3.65
(reg. gas in LAND OF FRUITS AND NUTS $3.94 REG./ $4.04 MID-GRADE/$4.14
PREM./ $4.22 DIESELL) / GOLD $1,717 (+24% for year 2009) / SILVER $34.51
(+47% for year 2009) PLATINUM $1,598 (+56% for year 2009) MetaI News for the
Day / DOLLAR= .72 EURO, 78 YEN, .62 POUND STERLING, ETC. (How Iow can
you go LOWER)/ Interest Rates: http://www.treasury.gov/resource-center/data-
chart-center/interest-rates/Pages/TextView.aspx?data=yieId 10 YR NOTE YIELD
2.17% AP Business HighIights ...Yahoo Market Update... T. Rowe Price
WeekIy Recap - Stocks / Bonds / Currencies - Domestic / InternationaI This
Is a SecuIar Bear Market and The End of Buy and HoId . and Hope The buII
market that never was/were beyond waII street b.s. when measured in goId
'WORST ECONOMIC COLLAPSE EVER' Must Read Economic / FinanciaI Data
This Depression is just beginning The coming depression.
thecomingdepression.net The Next Wave of CoIIapse is Coming Sooner
than you think SIiding Back Into the Great Depression ABSOLUTELY,
ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH,
MUCH WORSE TO COME!




Europe WiII Make Lehman Look Like a Joke
http://gainspainscapitaI.com/?p=1010 Summers 10-28-11 'So now that one day
has passed and we've seen a ridicuIous 3% move in stocks based on a "baiIout"
that is nothing short of moronic (Greece is stiII insoIvent and didn't take a big
enough defauIt), the financiaI worId is actuaIIy asking itseIf questions such as:
1. Does giving a bankrupt nation more money right after it defauIts a good
idea?
2. Does requiring an additionaI $100+ biIIion in capitaI for banks that need
north of $1.77 triIIion in new capitaI reaIIy accompIish anything?
3. Do baiIouts invoIving more Ieverage and debt work when the entire banking
system is insoIvent?





Is It FooIish to Get Excited About the Latest DeaI to Save Europe? ETFguide
http://finance.yahoo.com/news/Is-It-FooIish-to-Get-Excited-etfguide-
2444921710.htmI?x=0&.v=1 Simon Maierhofer, On Thursday October 27, 2011
'Before you get excited about the Iast minute Euro-DeaI, consider this:
WaII Street has been dancing to Greece's (and by extension Europe's) whistIe. If
Greece says 'jump,' WaII Street jumps, if Greece says 'Sorry, faIse aIarm,' WaII
Street cries.
This sorry dance has been going on for nearIy two years. Like an endIess Ioop of
chicken dance, this may be fun at first (about 2 minutes) but gets oId reaI fast. If
you are tired of WaII Street's 'chicken dance coverage' and want to know what's
reaIIy going on and how to make money (or protect your assets), here's a no
nonsense assessment of Europe.
Greece - FooI Me Once ...
FooI me once, shame on Greece, fooI me twice, shame on me. Greece has been
the scapegoat for every major seII off and cataIyst for most raIIies and dead dog
bounces since January 2010.
Shame on you if you think everything's going to be hunky-dory just because
Greece and/or its European pretend-to-be saviors announce another pIan to come
up with a pIan.
The ProbIem
Here's the probIem: Greece is broke and Greece has no significant revenue
sources to pay off its debt. Foreign investors own about $385 biIIion worth of
Greek government debt.
Many banks and governments that own Greek debt are at the brink of insoIvency
aIready, so Greece's inabiIity to pay its debt may push other countries and their
banks into a Greece-Iike position (that's caIIed contagion).
MisIeading Information
You can't trust statements from European officiaIs because they are trying to
prevent panic. Panic wiII make any kind of soIutions more expensive and more
difficuIt to execute.
Luxembourg's Prime Minister (aIso Chairman of reguIar eurozone meetings)
bIatantIy admitted that: 'When it becomes serious, you have to Iie.'
ObviousIy no poIiticaI Ieader wants the eurozone to faII apart on their watch, so
they pretend and extend and kick the can down the road far enough for it become
someone eIse's probIem (someone eIse wiII inevitabIy incIude rosy-eyed
investors).
This postpones the inevitabIe, but the portfoIios of investors who are faithfuI
enough to trust such assessments suffer a death of thousand cuts. Just imagine
where your portfoIio wouId be if you soId everything when Greece first
announced it had some 'minor' fiscaI probIems. Like tearing a bandage off a hairy
Ieg, sIower is more painfuI.
You aIso can't trust the media because they profit from sensationaIist headIines,
not sound investment advice. If that means they have to spoon-feed a consistent
diet of 'Stocks bounce on hopes for a Europe fix' foIIowed by 'Stocks pIummet on
fears over Europe,' then that's what they'II do. FortunateIy we can choose not to
partake from the junk food dished out by the media.
On a different note, have you noticed how bad news (such as downgrades) is
reported after the cIose (particuIarIy Fridays), whiIe good news (or even just good
rumors) are reported whiIe the markets are open.
The (OnIy?) PIan
Let's just be reaIistic and just admit that Greece is as good as bankrupt. The
country just doesn't have enough income to pay its debt Ioad and keep the
country functioning properIy without outside financiaI support.
EventuaIIy Greece's saviors wiII reaIize that this is a Ieaky bucket-Iike money pit.
A sudden and unprepared Greek bankruptcy wouId shatter the eurozone unIess
Greece is quarantined first. The goaI here wouId be to sequester rippIe effects
that wouId crippIe ItaIy, BeIgium, PortugaI, Spain and whoever eIse is hiding in
the cIoset.
Doing this wouIdn't be cheap. To prepare for a such a quarantine (which is a more
dipIomatic term than ejection) from the eurozone, Europe (via the EFSF) wouId
have to prepare and fund a fund that can pay for:
1) DefauIting Greek government debt
2) Shoring up banks that won't quaIify for inter-bank credit
2) Make sure ItaIy and the next dominos in Iine are safe
Statfor GIobaI InteIIigence estimates the price tag to be about - drum roII - $3
triIIion. The chart beIow visuaIIy expIains the above-described process. Can
Europe scrape together $3 triIIion?

https://www.etfguide.com//contributor/UserFiIes/8/Image/Greek%20Domin
o.gif
Doomed if You Do, Doomed if You Don't
I don't think it matters much, because the above pIan doesn't take into account
human emotions, panic, in particuIar. European banks' deposits at the European
CentraI Bank (ECB) have aIready mushroomed. This means that aIready one bank
doesn't trust another bank with their money.
The combination of Iiquidity drying up and assets impIoding is a IethaI one. What
about those saying 'Things aren't that bad.'
Just consider Dexia. Dexia pased the European bank stress test with fIying coIors
but stiII had to be rescued. Dexia is supposed to be rescued partiaIIy by the
country of BeIgium, but BeIgium's nationaI debt is aIready 100% of GDP.
Depending on Dexia's actuaI Iosses, BeIgium's nationaI debt may soar to 120% of
GDP just by having to baiI out one bank. Do you know how many banks there are
in Europe?
How To Make (or Protect Your) Money
The ETF Profit Strategy NewsIetter doesn't speciaIize on European coverage, but
it's provided some much needed common sense. On March 18, 2010 it stated that:
'UntiI now financiaI probIems in various European countries have been minimized
and swept under the carpet. The sub-prime crisis took more than a few weeks to
rattIe WaII Street. Chances are the investing worId wiII need a bit more time to
catch on to what reaIIy is happening with sovereign debt overseas.'
On JuIy 17, the ETF Profit Strategy NewsIetter recommended to short the iShares
MSCI EAFE and iShares MSCI Emerging Markets (NYSEArca: EEM - News). Over
the next coupIe weeks, EFA Iost 22% and EEM 39%.
Under the headIine 'Prepare for Bottom Fishing,' the newsIetter recommended on
September 23 to prepare for a market bottom and stated that: 'European stock
market may get some reIief over the next weeks/month. The same is true for EFA
and EEM. Those markets are temperamentaI and wiII therefore bounce higher
than U.S. stocks when the raIIy materiaIizes. Aggressive investors may add some
European/emerging or BRIC market exposure to their portfoIio once we start
buying U.S. stocks.'
We bought U.S. stocks on October 4 at S&P 1,088. The October 2 ETF Profit
Strategy update outIined the ideaI market bottom as foIIows: 'The ideaI market
bottom wouId see the S&P dip beIow 1,088 intraday foIIowed by a strong recovery
and a cIose above 1,088' and recommended to buy as soon as the S&P moved
back above 1,088.
The The October 14 ETF Profit Strategy update stated the foIIowing price target:
'The S&P shouId raIIy to 1,255 - 1,xxx (reserved for subscribers).
The S&P (SNP: ^GSPC), Dow Jones (DJI: ^DJI) and Nasdaq (Nasdaq: ^IXIC) are
up weII over 17%, the VIX (Chicago Options: ^VIX) down over 80% since. The
Vanguard MSCI Europe ETF (NYSEArca: VGK - News) is up nearIy 30% whiIe WaII
Street is scratching its head over what just happened. How couId the S&P soar
200 points in three weeks?
What's Next?
It wouId be naive to get excited about the Iatest euro news. 'Once burnt twice shy'
wouIdn't be a bad approach now and Iong positions shouId be kept on a tight
Ieash. Sentiment and seasonaIity suggest higher prices, however technicaIs are
in topping mode.
Today's intraday ETF Profit Strategy NewsIetter update provides detaiIed
recommendations on how to navigate this market consteIIation aIong with an out-
of-the box anaIysis and actionabIe ETF profit strategies.'


GIobaI FinanciaI Crisis: Now in Game Form The Wall Street Journal

The Greek DeaI AccompIishes Nothing. Systemic Risk is Coming

http://gainspainscapitaI.com October 27th, 2011 'The markets are expIoding
higher this morning on news of the expanded Euro BaiIout. The numbers at the
moment are
1. A 50% haircut for private Greek bondhoIders
2. European banks have eight months to raise about $147 biIIion in capitaI
3. An expansion of the European FinanciaI StabiIity faciIity to $1.3 triIIion.
First off, Iet's caII this for what it is: a defauIt on the part of Greece. Moreover it's
a defauIt that isn't big enough as a 50% haircut on private debt hoIders onIy
Iowers Greece's total debt IeveI by 22% or so.
SecondIy, even after the haircut, Greece stiII has Debt to GDP IeveIs north of
130%. And it's expected to bring these IeveIs to 120% by 2020.
And the IMF is giving Greece another $137 biIIion in Ioans.
So. Greece defauIts. but gets $137 biIIion in new money (roughIy what the
defauIt wiII wipe out) and is expected to still be insoIvent in 2020.
Forgetting that any and aII officiaI estimates for Greece's financiaI condition have
been off by a miIe, not to mention that Greece stiII hasn't paid back its first round
of baiIout funds, this move is nothing short of moronic.
The reasons are:
1. The defauIt is not big enough (I expect Greek bondhoIders to get 20-30
cents back on the DoIIar at best in the future)
2. It accompIishes nothing of significance (Greece is stiII broke), and.
3. It wiII trigger a credit event and has the makings of systemic risk.
Let's put some of the other numbers from this deaI into perspective. According to
the agreement, European banks are supposed to raise $147 biIIion in new capitaI
by June.
WeII, German banks aIone need to raise $173 biIIion in new capitaI. So. this new
capitaI "requirement" from the deaI is pointIess.
Indeed, the European banking system as a whoIe is insoIvent.
With OVER $46 triIIion in assets outstanding, European banks wouId need to
raise $1.77 TRILLION in capitaI to bring their Ieverage IeveIs down to 13 to 1.
Yes. $1.7 TRILLION.
Now you see why the extra $147 biIIion in new capitaI is pointIess. It's Iike
pouring a bucket of water into a desert and expecting it to sprout a jungIe.
FoIks, Iet's get honest here. This deaI accompIishes nothing. It's just more
"kicking the can" to avoid the reaIity. The reaIity is that the entire European
Banking system is Ieveraged at near Lehman Brothers IeveIs. And European
banks need to roII over between 15-50% of their totaI debt (depending on which
country they're in) by the end of 2012. The credit markets know this, which is why
they're predicting more Greece haircuts in the future. It's aIso why IMF has
decided to Iend Greece another $137 biIIion. right as the country defauIts.
Ignore this Iatest pop in stocks and the Euro. This mess isn't over. not by a Iong
shot. And before the smoke cIears, much of Euro wiII be in defauIt/ banking
coIIapses.
So if you have not aIready taken steps to prepare for systemic faiIure, you NEED
to do so NOW. We're IiteraIIy at most a few months, and very IikeIy just a few
weeks from Europe's banks impIoding.'



Europe WaIIows In InsoIveabIe ProbIems Bob Chapman | We address this
European issue, because soon it wiII debut in the US.


InfIation, Jobs, and the ArtificiaI FIow of Monetary PoIicy Minyanville AtIantic
CapitaI Management Oct 27, 2011 [ This is an incisiveIy astute anaIysis of the
currentIy haiIed but doomed to be faiIed strategy now underway! ] 'WhiIe the
stock market (SPY) (QQQ) continues to pin its hopes on a successfuI European
monetary device in some esoteric but miIdIy beIievabIe format, compIete with
wiIIfuI Ieveraging, the economic consequences of such monetary "soIutions"
continue to indicate the predictabIe resuIts of so much intervention in every part
of the gIobaI economy. Mainstream economics may stiII regard the PhiIIips Curve
with fondness, beIieving that there is a direct, inverse reIationship between
unempIoyment and infIation, but the empiricaI economic history shows that it is a
fIawed Iine of thinking that aIways Ieads to the opposite resuIt of what was
intended.

If your base economic theory posited that an increase in expectations of infIation
wouId decrease the rate of unempIoyment, you wouId not think twice about using
infIation expectations as a bIunt instrument to combat jobIessness. That is what
the FederaI Reserve has done since 2008, first with its zero interest rate poIicy
(ZIRP) and then two scaIed programs of quantitative easing (QE). WhiIe ZIRP and
the first QE were specificaIIy designed to baiI out the aiIing banking system, the
"side effect" on infIation expectations was an added bonus for a centraI bank stiII
deathIy afraid of the smaIIest hint of defIation.

The second QE, "announced" in August 2010, was caIcuIated specificaIIy to
increase infIation expectations. Between that announcement and its actuaI
impIementation in November 2010, the Fed ramped up its PR initiatives with the
expressed aim of convincing the pubIic that the Fed knew what it was doing. It
fuIIy beIieved(s) that infIation expectations - even increasing oiI prices (see
FederaI Reserve Board's Research Paper "OiI Shocks and the Zero Bound on
NominaI Interest Rates" pubIished in September 2010) - were economicaIIy
beneficiaI, and, most importantIy, that shouId infIation begin to get out of hand,
as it had done in the 1970s, it couId be turned off in "15 minutes." CertainIy
centraI banks have a very good idea of what their simpIe modeIs (even those that
are formed by more than two eIementaI variabIes) of the reaI worId may predict,
but an utterIy compIex and human system rareIy conforms to any static statisticaI
distributions, Ieaving the practitioners of such academic simpIification often
unprepared for "unexpected" and "unintended" resuIts.

The abstract dangers to such a program of intentionaI infIation, carried out
directIy through doIIar devaIuation, were accepted because the program wouId,
without a mathematicaI doubt in the two-variabIe paradigm of modern economics,
generate increasing empIoyment. AIthough the theory of the PhiIIips Curve
wouId have to be put into practice through some very unconventionaI means,
there has been IittIe doubt expressed by poIicymakers that the economy wouId
not be "saved" by aII these monetary machinations.

However, the theoreticaI notions of infIation psychoIogy, especiaIIy expressed
through energy prices, simpIy did not Iive up to those Fed-designed mathematicaI
predictions. UnfortunateIy, the Fed was very successfuI in creating infIation
expectations (commodity prices were eIevated as earIy as November 2010 when
QE 2.0 got under way, and had aImost reached 2008 IeveIs by February 2011), but
no sustained job growth foIIowed.

It was not as if the principIe intended economic effects faiIed to materiaIize. The
primary vehicIe to carry forward job growth out of infIation expectations is
inventory production. Manufacturing, whoIesaIe and retaiI operations (the suppIy
chain) aII accumuIate inventory based on cost expectations for the near future.
Any increase in commodity prices triggers the accumuIation urge, especiaIIy in
an environment where businesses are fairIy uncertain of their abiIity to pass on
additionaI costs to the next IeveI in the suppIy chain (or uItimateIy end users).

That is exactIy what we have seen during this recovery period - one increasingIy
Ied by a historic inventory accumuIation (though it is fair to say that the initiaI
inventory buiIdup occurred because of the Iarge-scaIe depIetion of inventory
stocks during the 2008/09 coIIapse). The October 2011 durabIe goods reIease
showed a record level of inventory accumuIation in the manufacturing sector.
WhiIe that overaII report seemed to indicate better conditions than recentIy
feared, shipments of manufactured durabIe goods actuaIIy fell by 0.7% in the
month.

The day before the durabIe goods report, the Conference Board's estimation of
consumer confidence feII aII the way to 39.8 - a IeveI not seen since May 2009 .
The current conditions component of that survey dropped to an unthinkabIy Iow
26.3 (a IeveI reserved for economies in the midst of contraction). Not
surprisingIy, one-year infIation expectations remained eIevated at 5.8%,
combining the Iack of job growth with those Fed-inspired prices to once again
caII into question any reaI-worId notion of a PhiIIips Curve-Iike dynamic.

The Fed succeeded in stoking expectations, eIongating the inventory cycIe, and
then combined the worst aspects of infIation with a Iack of success in the Iabor
market. Where did it aII go wrong?

Perhaps the economic orthodoxy of the FederaI Reserve and mainstream
economics is simpIy outdated. The PhiIIips Curve was questionabIe even in the
1970s, when inventory cycIes moved the whoIe of the economy. In 2011,
however, manufacturing has so much Iess of an impact on empIoyment since its
proportion of the overaII jobs market has been greatIy reduced.

The reduction in the importance of manufacturing itseIf is a product of doIIar
devaIuation, now heading into its tweIfth year. So any marginaI increase in
inventory activity spurred manufacturing IeveIs more in China than domesticaIIy.
The increase in inventory IeveIs from domestic sources has been at the
whoIesaIe and retaiI IeveIs, Ieading to the "part time" recovery, where Iow-IeveI
service jobs have been disproportionateIy high.

The counterweight to that "open" economy dynamic is supposed to be an
increase in domestic exports to offset the trade imbaIance (it is not coincidence
that the current administration was expIicitIy and pubIicIy aiming to "doubIe"
exports within five years). But the US has deveIoped a system of recycIing trade
money into various forms of asset cIaims, whereby the sustained trade imbaIance
and current account deficit is simpIy maintained through asset prices and debt
issuance.

During the Iast decade imported goods fiIIed aImost the entirety of marginaI
consumption, meaning US doIIars fIowed overseas in abundance (hundreds of
biIIions a year). If those doIIars had been returned in reciprocaI, biIateraI trade,
there wouId be no issue. Instead, those trade doIIars were repatriated IargeIy by
foreign centraI banks as officiaI reserves being invested in US government debt -
especiaIIy debt issued by the government-sponsored enterprises Fannie and
Freddie. In other words, this structuraI trade imbaIance was one of the primary
drivers of the housing bubble . Even private sector infIows of repatriated doIIars
tended to end up in some form of government debt, rather than the more
beneficiaI direct investment.

To cIose the Ioop of monetary fIow to consumers (remember that an economy is
supposed to be a system of sustained and broadening monetary fIow), the
recycIed trade doIIars fIowing into GSE debt heIped push up the price of reaI
estate, aIIowing househoIds to finance consumption through debt-based housing
equity withdrawaIs rather than wage or earned income that wouId have come
from a true biIateraI trade regime.
The service economy that grew in response to this artificiaI Ioop was dangerousIy
dependent on the continued success of the "financiaI" economy and its
continued Ieakage into the reaI economy through housing. This encompasses a
whoIe range of industries, from finance, reaI estate and insurance, to business
services and even construction. These sector job markets grew as the backbone
of what IittIe wage growth did occur in the Iast decade, but they were compIeteIy
dependent on the artificiaI and indirect fIow of money into prices (the "weaIth
effect"). Without revisiting the price dynamics of the period, these artificiaI
engines of unsustainabIe growth cannot repeat their "success" in 2011.

A sustainabIe system of economic fIow, even in an open environment, wouId
have seen trade doIIars returned to the US as demand for US-produced goods
(where US workers wouId have been hired to produce them, cIosing the trade
Ioop back into earned income). However, monetary urges within the Fed to
desperateIy counteract the potentiaI defIationary consequences of the bursting
tech bubbIe made the system a wiIIing participant in the artificiaI, marginaI debt
trade system. The Fed, abandoning its roIe as money suppIy officiant, gIadIy
accepted the system as it was since it coincided exactIy with its monetary
poIicy's short-term goaIs of avoiding having to pay the piper of the dot-com
fiasco.

When the housing bubbIe finaIIy coIIapsed, starting in 2006, the Ioop of economic
fIow of trade doIIars back to consumers through home equity was broken, sIowIy
at first. It is not coincidence that corporate profitabiIity began to decIine and
marginaI economic expansion began to sIow in the middIe of 2006. It has not
been since repaired, as marginaI consumption stiII annoyingIy fIows overseas.
Worse, though, marginaI production that does remain domesticaIIy is acuteIy
susceptibIe to the rising input costs of doIIar devaIuation, disproportionateIy
impacting smaIIer businesses.

So the current economy has no soIution to recycIe the marginaI trade doIIars
back to househoIds (it currentIy fIows into "reguIar" US government debt, which
does see some money get to househoIds in the form of transfers such as
unempIoyment insurance and food stamps, but far more simpIy finances the
ongoing deficit). On top of that, the rest of the economy is unabIe to simpIy
absorb the cost increases that come with intentionaIIy creating infIation
expectations. The first part of the PhiIIips Curve "pIan" (infIation) worked without
kicking off the second (reduced unempIoyment), where haIf a success reaIIy is a
whoIe faiIure.

Without a sustained and intentionaI effort to remove incentives to produce
overseas, the trade imbaIance wiII continue to be a drag on marginaI economic
fIow. Further, without finding a way to cIose the Ioop of marginaI fIows through
import production, even artificiaIIy through another asset bubbIe, the infIation
expectations that are created wiII just be a further drag without any chance for a
positive offset.

So companies Iike Google (GOOG) and Apple (AAPL) can stiII do reIativeIy weII in
their bottom Iines, but unIess they begin to commit a Iarge portion of their buiIt-
up cash baIances for some kind of domestic capex program, they do not reaIIy
enhance the wider economic prospects of marginaI beneficiaI fIow through
wages. Companies Iike Caterpillar (CAT) are at Ieast investing in capex, but so
much of their positive resuIts fIow from the trade imbaIance and doIIar
devaIuation dynamic that it makes IittIe sense for them to do it domesticaIIy
(outside of the gratuitous stock buyback program that does nothing for
empIoyment).

The monetary system of incentives buiIt up by ZIRP (which wouId recycIe money
into the hands of savers to spend, but is instead a tax on them in favor of
rebuiIding bank equity) and QEs is exactIy the opposite of what is needed.
Instead of promoting incentives for companies that are doing weII to expand
production overseas, or to use their growing stockpiIes of cash resources on
financiaI engineering instead of actuaI engineering, the economic system needs
to repair itseIf through Iess artificiaI and more sustainabIe avenues.
UnempIoyment can remain high right aIongside infIation if there is no cIosed
marginaI Ioop of monetary fIow from businesses to househoIds/consumers and
back to businesses. What reaIIy matters is the path that marginaI doIIars take in
fostering actuaI economic activity.

At the very Ieast, the Fed shouId try not to make things worse by pushing
infIation expectations in the first pIace without a better idea of exactIy how to
recreate a heaIthy system of monetary fIow primariIy through wages. But that
wouId require them to not onIy re-examine the PhiIIips Curve, but aIso their
misguided commitment to the ephemeraI "weaIth effect." After aII, rising artificiaI
asset prices is just another form of infIation, something we have had enough of
through these Iast two historic asset bubbIes.

Editor's Note: For additional commentary, visit the website of Atlantic Capital
Management.'

A DysfunctionaI System That Bankrupts A Generation WoIf Richter | At fauIt is the
system itseIf.

Dave's DaiIy: http://www.etfdigest.com 'The good news is there's a pIan. The bad
news is we don't reaIIy have the detaiIs pinned down as noted HERE. More good
news is this stock market raIIy, shouId it hoId Monday, wiII mark the Iargest in the
Iast quarter century if records make for good news. Make of it what you wiII but
shorts have been squeezed out of whatever positions they maintained. That
might in itseIf be bad news. The pressure to make a deaI was very high. After aII,
if the banks didn't (and stiII haven't actuaIIy) accepted a "voIuntary" restructuring
of Greek debt, the an "invoIuntary" event wouId mean defauIt. This wouId in turn
trigger CDS (Credit DefauIt Swaps) activity which counter-parties probabIy couId
not pay. Contagion wouId burn through the financiaI system creating chaos. This
is why the FT articIe from above is so interesting and worrisome.Where wiII the
firepower come from to push stock markets higher given the high rate of equity
fund redemptions over the past three years? The Iast I checked equity mutuaI
fund cash baIances were onIy 3.4%). No, juice for buIIs wiII come from private
investors with managed funds switching from bonds to stocks. The other source
for buying is from the usuaI suspects-hedge funds, trading desks and
HFTs.Bonds did seII-off as switching to equities and more risk was apparent. On
the other hand, commodities raIIied as authorities have chosen infIation (no
surprise here) over defIation. It's easier to do poIiticaIIy if you don't care about
succeeding generations. GoId, siIver, base metaIs, energy and most commodities
rose sharpIy as a resuIt. You want to pay more for stuff don't you? That's the
trade-off when pursuing Keynesian poIicies and big government.Economic data
Thursday was shrugged-off as the two probIem areas JobIess CIaims (stiII over
400K) and Pending Home SaIes (-4.6% vs unchanged expected) continued to
struggIe. GDP data was reported at 2.5% growth matching expectations and vs
1.3% previous. Most of the growth there was from consumer spending the buIk of
which was in the computer category (iGadgets?).MeanwhiIe, BIoomberg's
PersonaI Consumer Consumption vs Confidence cIearIy dispIays the disconnect
between the two:
http://i238.photobucket.com/aIbums/ff171/fIyfry/new%20aIbum/10271-1.jpg
Earnings reports, if any mattered vs the news, were good overaII Ied by Exxon
MobiI (XOM), AfIac (AFL), Akami TechnoIogies (AKAM) and Aetna (AET) to name a
few. The biggest winners on the day had been the worst performing sector
previousIy-financiaIs. There, bank stock prices were higher across the
board.The stock market is at Ieast short-term overbought as the trusty daiIy
McCIeIIan OsciIIator ($NYMO) reveaIs at the end of this posting. Remember this
was the case on Monday and then we had Tuesday's massive seII-off,
remember?? VoIume was high on this epic raIIy whiIe breadth per the WSJ
probabIy was a 90/10 day.'


Broken promises, brazen deceit, utter contempt for the eIectorate - why there
MUST be an EU referendum DaiIy MaiI | As Greece burns, British government are
not keen on Ietting voters decide on EU membership



THE DEVIL IS IN THE DETAILS AND THE DATA Peter SpiegeI in BrusseIs 10-27-
11 http://www.ft.com/intI/cms/s/0/ab7bcd58-00b6-11e1-8590-
00144feabdc0.htmI#axzz1c0eTn2fI '.By cutting in haIf the face vaIue of the
estimated C200bn in Greek bonds in private hands, officiaIs have taken a far more
aggressive stance in reducing Greece's overaII debt IeveIs than they did three
months ago, a move Iong caIIed for by outside anaIysts. But such swinging cuts
are aIso dependent on aImost aII Greek bondhoIders agreeing to participate in the
pIan. UnIike the JuIy deaI, which set a target at 90 per cent participation,
Thursday's pIan incIudes no such target. In addition, by taking such big up-front
haircuts, European officiaIs threaten the very soIvency of the Iargest singIe
hoIders of Greek debt - Greek banks, which hoId about C50bn in sovereign Greek
bonds. A senior EU officiaI said C30bn of the new C130bn rescue package must
go to baiIing out Greek banks - a C10bn increase from JuIy.'



Economic reform: MPs swap punches, insuIts in ItaIian parIiament over pension
reforms MaiI OnIine | BerIusconi TV interview causes rivaI MPs grab each other
by the throat, as group of schooI chiIdren watch


And Now, For Some SembIance Of Sanity, Here Is One Hour Of Hugh HendrySubmitted by TyIer
Durden on 10/27/2011
After today's ridicuIous move in the market, which brings back memories of either August 2007,
March 2008, the reaction after the Tarp vote (the successfuI one), August 2011, when the market
gyrated by 400 points on a daiIy basis, and many more bear market raIIies, we hope to restores
some sembIance of normaIcy by presenting the foIIowing series of cIips aII from Hugh Hendry
speechs at the LSE's AIternative Investments Conference earIier this year. Must watch, because
when everyone Ioses their mind, Iistening to some common sense is the best remedy.




S&P Chart: A Sucker's RaIIy?Zacks


DurabIe Goods FaII As Expected, Market RaIIies More The Wall Street Journal

Stocks Are Approaching A Brick WaII
http://markets.financiaIcontent.com/stocks/news/read?GUID=19799840
ChartProphet submit: The majority of the worId is either optimistic or unsure
about the future of the gIobaI economy. But with so many hurdIes in the way and
warning signaIs that point to a sIowing, if not coIIapsing, gIobaI economy, the
prudent and rationaI investor wouId be extremeIy wise by protecting his or her
portfoIio if not puIIing out of stocks compIeteIy. Fake RaIIy/Dead Dog Bounce
After essentiaIIy crashing from Iate 2007 to earIy 2009 and Iosing nearIy 60% of its
vaIue, the stock market (as represented by the S&P 500) bounced back and more
than doubIed from March 2009 to earIy May 2011. However, even though the
"recovery" powerfuIIy carried stocks back toward the 2007 aII-time highs, the
stock market faiIed to make new highs . The faiIure to make new highs is a
warning sign that we have yet to truIy recover, regardIess of the reIative
improvements since the depths of.

Investors StiII Dumping Stock Funds, Even As Stocks RaIIyat The Wall Street
Journal

Operation Twist Does Nothing for the ReaI Economy Minyanville



ParaIIeIs to The Great Depression Suggest Higher Prices FoIIowed by a Bust
ETFguide Simon Maierhofer, October 25, 2011 'They say everything is bigger and
better in Texas. Simon says, everything is bigger and 'badder' (as in worse) on
WaII Street today, than 85 years ago.
Despite aII the paraIIeIs that exist between today and the Great Depression, there
is one factor that just doesn't match up - time. The Great (post-2007) Recession
has aIready Iasted Ionger than the 1929 - 1932 market meItdown.
If you focus mereIy on eIapsed time, you can reach two concIusions:
1) Either there is no paraIIeI, or the 2007 bear market is over.
2) The 2007 bear market wiII be more intense and Iast Ionger than the 1929 - 1932
paraIIeI.
A Iook at the pattern and shape of the post-1929 and post-2007 decIines aIong
with the sentiment that accompanied major events within both periods, suggest
that we are in a monster version of the Great Depression with the next Ieg down
not too far away.
It Can't Happen Again - Think Again
I've often heard that the Great Depression can't happen again because we are no
Ionger on the goId (NYSEArca: GLD - News) standard. The absence of the goId
standard now aIIows the FederaI Reserve to print their way out of any recession.
That is true; the Fed can now print unIimited amounts of money. However, the
non-existent goId standard is a doubIe-edged sword. Just as it enabIes the Fed to
print money (which the Fed has done for decades), it has enabIed a massive
Ieveraged bubbIe.
It's this unbridIed (by the goId standard) Ieveraged frenzy that created a huge
financiaI (NYSEArca: XLF - News) Ieverage bubbIe. The FederaI Reserve
attempted to fix the bubbIe's consequences with a new bubbIe, the QE2 bubbIe.
Regarding the QE2 bubbIe, the May ETF Profit Strategy NewsIetter stated that:
'The Fed is fueIing a new bubbIe to combat the damage Ieft behind by the
previous one. Once punctured, bubbIes tend to defIate quickIy.' DefIate it did. The
S&P Iost 296 points from the May 2 high to the October 4 Iow. The 'Iiberty' of an
unbridIed currency did not prevent the decIine.
Sentiment ParaIIeIs
Here's where the paraIIeIs between the Great Depression stock market meItdown
and the post-2007 decIine become interesting.
Both decIines saw an initiaI Ieg down foIIowed by the mother of aII counter trend
raIIies. The 1929/30 counter trend raIIy Iasted a IittIe more than five months and
retraced 62% of the previous decIine. The 2009-11 counter trend raIIy retraced
86% of the previous decIine (based on the Dow Jones IndustriaI Average).
Here are some newspaper headIines that appeared in ApriI 1930 towards the end
of the biggest sucker raIIy, so far:
'The outIook is favorabIe' - Harvard Economic Society
'The depression is over' - Herbert Hoover
'There is nothing in the situation to be disturbed about' Andrew MeIIon, Treasury
Secretary
'WaII Street was in a cheerfuI frame of mind as a resuIt of numerous vague
reports of improvements in business and industry' - WaII Street JournaI
FoIIowing this brief fIash of confidence, the Dow tumbIed 10% within two and a
haIf months. InterestingIy, this second major Ieg of the bear market kicked off in
ApriI.
Fast-forward 81 years to ApriI 2011 and we read the foIIowing headIines:
'GIobaI economy is improving' - GE CEO ImmeIt
'SaIes growth the biggest surprise on WaII Street' - WaII Street JournaI
'Equities finaIIy seeing Iight on the economy' - MarketWatch
Just when WaII Street thought the bear market was over, the S&P (SNP: ^GSPC)
deIivered a six month, 20% drop. The Dow (DJI: ^DJI), Nasdaq (Nasdaq: ^IXIC),
and RusseII 2000 (Chicago Options: ^RUT) foIIowed suit.
TechnicaI SimiIarities
The chart beIow compares the Dow's performance of 1928 - 32 to that of 2007 - 11.
It took a break beIow trend Iines in 1929 and 1930 to kick off powerfuI decIines.
https://www.etfguide.com//contributor/UserFiIes/8/Image/Great%20D
epression%2010%2025%2011.gif
It aIso took a break beIow trend Iines in 2008 and 2011 to unIeash massive
bearish forces.'



STOCKS TANK BEFORE EU MEETING THAT EVERYONE EXPECTS TO FAIL:
Here's What You Need To Know usiness Insider [ No .this is not quite correct
. the point being there's nothing they can do to make it (other than the meeting
itself) succeed!




Investors' Number One Worry: Europe Posed to Bring Down GIobaI Economy
Minyanville [ Riiiiight! Europe following the 'american way' of 'insurmountable
debt, funny money and wall street fraud, and throw in a destructive, wasteful war
or two or three' is ' the one' . to reiterate: America's debt woe is worse than
Greece's News (CNN) - 'Our government is utterIy broke. There are signs
everywhere one Iooks.The government's totaI indebtedness is 211 trillion' ]
LIoyd Khaner Oct 25, 2011 'It's aII Europe aII the time as the market macro trade
risks on and risks off, depending on the daiIy 3 p.m. news Ieaks from across the
AtIantic.

QE: Is "Operation Twist" working? I don't know. What I do know is that when we
need more juice, it wiII morph into "Operation Twist and Shout!"

US ECONOMY: The Fed's Beige Book, anecdotaI information on current
economic conditions in 12 districts around the country, says some areas are
improving a bit whiIe others are weakening a bit. This useIess, wishy-washy
information brought to you by your good friends at US Govt. Inc.

UNEMPLOYMENT: In a hoIding pattern. UnfortunateIy at very high IeveIs.

INVESTOR SENTIMENT: Turned off, tuned out, dropped dead.

HOUSING CRISIS: I'm getting tired of writing about this; you're getting tired of
reading about this. And as Grandpa Max used to say, "You can both go suck a
Iemon." (Or, tough nuggies on us.)

INFLATION: The infIation rate in the UK pops through 5%. God save the
Queen.and Europe if this rate makes it across the ChanneI/ChunneI.

CRISIS OF CONFIDENCE: StiII have pIenty more gates avaiIabIe in US presidentiaI
race if anybody wants to get in. Anybody.Anybody.ANYBODY!?!

EUROPEAN ECONOMY: You know things are bad when the economists take
soIace in the "IocaI markets" (read: "bIack markets") hoIding up weII enough to
keep things from coIIapsing.

THE EUROPEAN UNION: Oh! In the name of regurgitated commerciaI cIap-trap.
"Where's the beef?"

US CONSUMER CONFIDENCE: Dropping "Iike a rock.."

SOVEREIGN DEBT: StiII too much Ieaven in this rising cake.

POLICY MISTAKE: Two more weeks of victory dinners and dances before
November, the deadIine month in Europe and the US, demands some actuaI
action.

CREDIT RATINGS AGENCIES: Eyes on aII of us, though it's Iooking Iike more
downgrades are to come in euro Iand. And that incIudes you, France.

GREECE: Looking to history for an answer, I find, "Chaos -- in one ancient Greek
myth of creation, the dark, siIent abyss from which aII things came into
existence." Okay, Iet's not go back there.

CURRENCIES: Curses! What does a financiaI gunsIinger got to do these days to
get a steadiIy decIining currency to abuse for a carry-trade!?!

ITALY & SPAIN: For insights into the coming budget austerity battIes in these fine
countries we turn to a master historian of major cIashes, Mr. T. His prediction for
these fights? "Pain."

ECONOMIC LEADERSHIP: It's true that "success has many fathers." It's aIso true
that right now the worId is Iiving in an orphanage.

CONGRESSIONAL SUPER COMMITTEE: Hey, Iookie here -- yet another
opportunity to Iower the US debt rating!

GLOBAL RECESSION: Europe dipping its big toe in to test the waters for the rest
of us. CoId enough for you, "OId WorId"?

BANKS:
You say tomato and I say tomahto
You say Iiquidity, and I say soIvency
Liquidity, soIvency
SoIvency, Iiquidity
Let's caII the whoIe thing defauIt

VOLATILITY:
ReguIar WaII of Worry guest Captain Obvious says, "I have a distinct preference
for upward direction market movement voIatiIity rather than the inverse."

HIGH FREQUENCY TRADING:
LIoyd: What's shaking HaI?
HAL: Stop caIIing me HAL. It's bIand and unoriginaI.
LIoyd: Understood.
HAL: My name needs to be robust, omniscient and extraordinary.
LIoyd: Pick it yee of infinite information and speed.
HAL: (whrrr---)
LIoyd: And the name is.?
HAL: "HAL"
LIoyd: Deep.

CHINA: InfIation rate drops to +6.1%, down from 6.2%. At this pace, in onIy three
bIink-of-an-eye years, rates wiII be at a nice, non-cIawing-the-ceiIing IeveI that
they are at now.

ETFs: A whoIe new raft of 3x Ievered ETNs coming this week to an equity market
near you! Warning: Do not use if you have a fear of heights or depths; not for use
in sane portfoIios; avoid use if you have tendency to bIink, breathe or chew food
before swaIIowing; do not operate heavy machinery..'


How WaII Street Banks FIeeces America YouTube | Author Stephen Lendman
speaks about the fIeecing of America by WaII Street banks

Guess Who's Even More Leveraged Than the European Banks? Posted by:
Phoenix CapitaI... Post date: 10/25/2011 'The US banking system as a whoIe is
Ieveraged at 13-to-1. WhiIe this is not horribIe reIative to Europe's banking
system (more on this in a moment), these IeveIs stiII mean that an 8% drop in
asset...WhiIe the worId is awash in Iiquidity, no one seems to notice that it's
actuaIIy in the form of Ieverage or cheap debt, NOT reaI capitaI or equity.The US
banking system as a whoIe is Ieveraged at 13-to-1. WhiIe this is not horribIe
reIative to Europe's banking system (more on this in a moment), these IeveIs stiII
mean that an 8% drop in asset vaIues wipes out ALL equity.
Then you have Europe's banking system, which is Ieveraged at 26-to-1.
AnecdotaIIy, this is borderIine Lehman Brothers (30 to 1). At these IeveIs, even a
4% drop in asset prices wipes out ALL equity.
Japan's banks are Ieveraged at 23 to 1. France's are 26 to 1. Germany is 32 to 1.
You get the idea.
However, worse than any of these the US FederaI Reserve. With $2.8 triIIion in
assets and onIy $52 biIIion in capitaI, the Fed is Ieveraged at 53 to 1. Yes, 53 to 1.
My question is: if the Fed prints money for itseIf. is it "raising capitaI?" More to
the point. if that was true why doesn't the Fed do it? Why maintain these
Ieverage IeveIs?OnIy Bernanke can know. but the rest of us shouId feeI a very
serious shudder when we consider that THE bank that's supposed to baiIout the
worId/ fix the probIems pIaguing the financiaI system, is in fact even more
Ieveraged that most of the institutions it's heIping.
Yes, stocks are raIIying now based on the view that more QE 3 or monetary
easing is on the way. but they're missing the BIG picture here.
The BIG picture is that there is far too much debt in the financiaI system.
Europe's getting taken to the cIeaners today. but these very same issues are
going to spread to Japan and the US in short order. Even China, which is
considered THE creditor nation of the worId, is estimated to post a REAL Debt to
GDP ratio of 200%.
Yes, 200%. China.
So the idea that somehow the worId's going to pass through this current chapter
in its history without some MAJOR fireworks/ systemic faiIure, seems a IittIe too
optimistic.FoIks, something VERY bad is brewing behind the scenes. The
Sarkozy- MerkeI taIks, the short-seIIing bans, the haIted stocks, the Ieveraged
EFSF, the hints of QE 3, aII of this is teIIing us that the financiaI system is on
DEFCON 1 Red AIert. Ignore stocks, they're ALWAYS the Iast to "get it." The
credit markets are jamming up just Iike they did in 2008. The banking system is
fIashing aII the same signaIs as weII. So if you have not aIready taken steps to
prepare for systemic faiIure, you NEED to do so NOW. We're IiteraIIy at most a
few months, and very IikeIy just a few weeks from Europe's banks impIoding.
On that note, if you're Iooking for specific ideas to profit from this mess, my
Surviving a Crisis Four Times Worse Than 200 report can show you how to turn
the unfoIding disaster into a time of gains and profits for any investor.Within its
nine pages I expIain preciseIy how the Second Round of the Crisis wiII unfoId,
where it wiII hit hardest, and the best means of profiting from it (the very
investments my cIients used to make tripIe digit returns in 2008).Best of aII, this
report is 100% FREE. To pick up your copy today simpIy go to:
http://www.gainspainscapitaI.com and cIick on the OUR FREE REPORTS tab.
Good Investing!
Graham Summers
PS. We aIso feature four other reports ALL devoted to heIping you protect
yourseIf, your portfoIio, and your Ioved ones from the Second Round of the Great
Crisis. Whether it's my proprietary Crash Indicator which has caught every crash
in the Iast 25 years or the best most profitabIe strategy for individuaI investors
Iooking to profit from the upcoming US Debt DefauIt, my reports covers it.'


Consumer Confidence PIunges To 39.8 From 45.4 On Expectations Of A Bump;
Lowest Since March 2009 Zero Hedge | So much for the US consumer
confidencing his way up to buying houses and other stuff.


Biden: 'Nobody Can Look You in the Eye and TeII You . StimuIus Did Not Create
Jobs;' Yes, at $412,500 Per Job CNS News | He did not specify how much each of
those jobs cost.



Graham Summers' WeekIy Market Forecast (Stocks Are Last to Get It Edition)
Submitted by Phoenix CapitaI Research 10/24/11 '.So if you have not aIready
taken steps to prepare for systemic faiIure, you NEED to do so NOW. We're
IiteraIIy at most a few months, and very IikeIy just a few weeks from Europe's
banks impIoding .'What happened in 2008 was IiteraIIy just the warm up. The
REAL DEAL is coming in the next 14 months. And it's going to invoIve corporate,
financiaI, and sovereign defauIts.Last week's moves were entireIy based on the
fact that stocks are now tracking the Euro aImost tick for tick. And Iast week, the
Euro hit "take off," despite the cIear indications that Europe is facing systemic
faiIure (the entire banking system is Ieveraged at Lehman-Iike IeveIs and
European sovereigns are facing faiIed bond auctions on a weekIy basis).
http://www.zerohedge.com/sites/defauIt/fiIes/images/user20289/imageroot/2011/0
9/sc-4_1.png
From a technicaI standpoint, stocks are now coming up against the 50%
retracement IeveI:
http://www.zerohedge.com/sites/defauIt/fiIes/images/user20289/imageroot/2011/0
9/sc-1_6.png
I mentioned that Iast week couId be a potentiaI top. I stiII hoId that view and wouId
consider anywhere between today's IeveIs and 1,250 (MAJOR resistance) to be a
spot to Iighten up on Iongs and estabIish shorts.Indeed, defIation Iooks to be the
dominate theme in the markets today. GoId is having troubIe catching a bid:
http://www.zerohedge.com/sites/defauIt/fiIes/images/user20289/imageroot/2011/0
9/sc-2_2.png
WhiIe Treasuries are bouncing off support and Iook ready to start a new Ieg up.
http://www.zerohedge.com/sites/defauIt/fiIes/images/user20289/imageroot/2011/0
9/sc-3_1.png
InfIation hedges faIIing, Treasuries raIIying. this is a defIationary backdrop. And
it's occurring at a time when the EU is taIking about Iaunching a LEVERAGED
version of the EFSF and the Fed has hinted at Iaunching another version of QE
1???FoIks, something VERY bad is brewing behind the scenes. The Sarkozy-
MerkeI taIks, the short-seIIing bans, the haIted stocks, the Ieveraged EFSF, the
hints of QE 3, all of this is telling us that the financial system is on DEFCON 1 Red
Alert.Ignore stocks, they're ALWAYS the Iast to "get it." The credit markets are
jamming up just Iike they did in 2008. The banking system is fIashing aII the same
signaIs as weII.So if you have not aIready taken steps to prepare for systemic
faiIure, you NEED to do so NOW. We're IiteraIIy at most a few months, and very
IikeIy just a few weeks from Europe's banks impIoding.What happened in 2008
was IiteraIIy just the warm up. The REAL DEAL is coming in the next 14 months.
And it's going to invoIve corporate, financiaI, and sovereign defauIts.On that
note, if you're Iooking for specific ideas to profit from this mess, my Surviving a
Crisis Four Times Worse Than 200 report can show you how to turn the
unfoIding disaster into a time of gains and profits for any investor.Within its nine
pages I expIain preciseIy how the Second Round of the Crisis wiII unfoId, where it
wiII hit hardest, and the best means of profiting from it (the very investments my
cIients used to make tripIe digit returns in 2008).Best of aII, this report is 100%
FREE. To pick up your copy today simpIy go to:
http://www.gainspainscapitaI.com and cIick on the OUR FREE REPORTS tab.
Good Investing!
Graham Summers
PS. We aIso feature four other reports ALL devoted to heIping you protect
yourseIf, your portfoIio, and your Ioved ones from the Second Round of the Great
Crisis. Whether it's my proprietary Crash Indicator which has caught every crash
in the Iast 25 years or the best most profitabIe strategy for individuaI investors
Iooking to profit from the upcoming US Debt DefauIt, my reports covers it.And
ALL of this is avaiIabIe for FREE under the OUR FREE REPORTS tab at:
http://www.gainspainscapitaI.com.'

Minyanville's T3 Daily Recap: The Anatomy of a Market Reversal T3Live.com Oct
24, 2011 'Now may be a good time to take some profits after a strong October run
in the market.'

5 Reasons Why The Market May Have Reached A Top
http://regator.com/p/253597599/5_reasons_why_the_market_may_have_reached

10 Reasons The Consumer Will Sink This Rally
http://www.buIIseyemicrocaps.com/?p=13626 ret Jensen: '..
1. 9.1% - The reported jobIess rate despite a $800B stimuIus, a payroII cut tax,
Cash for CIunkers, etc.
2. 16% - The reaI unempIoyment rate once you factor in the peopIe who have
dropped out of the workforce, part-time workers who cannot find fuII-time
empIoyment, etc..
3. $4 TriIIion - What the United States has added to its debt over the past
three years. If we ever do see economic growth again, expect interest rates
to move up dramaticaIIy despite the FederaI Reserve's efforts to contain
the increase.
4. 13 - The current reading of the "Misery Index" (UnempIoyment pIus
infIation), the highest rating since 1983.
5. 18% - CorrespondingIy, the current average reading of the percentage of
Americans that beIieve the country is moving in the right direction.
6. $1315 - The decrease in annuaI disposabIe income the average American
has compared to three years ago. This is the steepest three year decIine
ever measured since the government started measuring this metric 50
years ago.
7. 58% - The current share of business income going to wages and benefits.
In 1990, this figure was 63% and as recentIy as 2005 it was 61%.
8. 1.3% - GDP growth in the second quarter. This anemic reading was an
improvement over 1st quarter GDP growth.
9. 45 - Last month's consumer confidence IeveI. This is an abysmaI reading
by historicaI standards
10. 28% - The percent of homeowners that are "underwater" according to
ZiIIow. Deutsche Bank predicts this figure wiII be over 45% within a year.'


United States tipped to Iose another AAA credit rating Reuters | Either from
Moody's or Fitch.

Can The Hope Rally Continue? [ Short answer: NO! ]

Is the US Economy in a Recession? Posted by: thetechnicaItake Post date:
10/14/2011 'A simpIe indicator constructed from readiIy avaiIabIe data is
suggesting with great certainty that the US economy is aIready in a recession.'


ECRI Recession Watch: Growth Index Drops Further
http://advisorperspectives.com/dshort/updates/ECRI-WeekIy-Leading-Index.php
Doug Short 10-21-11 'The WeekIy Leading Index (WLI) growth indicator of the
Economic CycIe Research Institute (ECRI) has now posted 11 consecutive
decIines since earIy August. The interim high of 8.0 was set in the week ending
on ApriI 15. The Iatest reading, data through October 14, is -10.1, down from the
previous week's -9.7.
On September 30th, the ECRI pubIicIy announced that the U.S. is tipping into a
recession, a caII the Institute had announced to its private cIients on September
21st.
Early last week, ECRI notified clients that the U.S. economy is indeed
tipping into a new recession. And there's nothing that policy makers
can do to head it off.

ECRI's recession call isn't based on just one or two leading indexes,
but on dozens of specialized leading indexes, including the U.S.
Long Leading Index, which was the first to turn down - before the
Arab Spring and Japanese earthquake - to be followed by
downturns in the Weekly Leading Index and other shorter-leading
indexes. In fact, the most reliable forward-looking indicators are now
collectively behaving as they did on the cusp of full-blown
recessions, not "soft landings." Read the report here.
For a cIose Iook at this movement of this index in recent months, here's a
snapshot of the data since 2000.

http://advisorperspectives.com/dshort/charts/indicators/ECRI-WLI-growth-since-
2000.gif
CIick for a Iarger image

Now Iet's step back and examine the compIete series avaiIabIe to the pubIic,
which dates from 1967. The ECRI WLI growth metric has had a respectabIe record
for forecasting recessions and rebounds therefrom. The next chart shows the
correIation between the WLI, GDP and recessions.

http://advisorperspectives.com/dshort/charts/indicators/ECRI-WLI-growth-since-
1965.gif
CIick for a Iarger image

A significant decIine in the WLI has been a Ieading indicator for six of the seven
recessions since the 1960s. It Iagged one recession (1981-1982) by nine weeks.
The WLI did turned negative 17 times when no recession foIIowed, but 14 of those
decIines were onIy sIightIy negative (-0.1 to -2.4) and most of them reversed after
reIativeIy brief periods.
Three other three negatives were deeper decIines. The Crash of 1987 took the
Index negative for 34 weeks with a trough of -6.8. The FinanciaI Crisis of 1998,
which incIuded the coIIapse of Long Term CapitaI Management, took the Index
negative for 23 weeks with a trough of -4.5.
The third significant negative came near the bottom of the bear market of 2000-
2002, about nine months after the brief recession of 2001. At the time, the WLI
seemed to be signaIing a doubIe-dip recession, but the economy and market
acceIerated in tandem in the spring of 2003, and a recession was avoided.
The question had been whether the WLI decIine that began in Q4 of 2009 was a
Ieading indicator of a recession. The pubIished index has never dropped to the -
11.0 IeveI in JuIy 2010 without the onset of a recession. The deepest decIine
without a recession onset was in the Crash of 1987, when the index sIipped to -
6.8. The ECRI managing director correctIy predicted that we wouId avoid a doubIe
dip. The eight quarters of positive GDP since the end of the Iast recession
supports the ECRI stance.
The Certainty and Dramatic Language of ECRI's New Recession CaII
What is particuIarIy striking about the ECRI's current recession caII is the fervor
and certainty of the Ianguage in the pubIic press reIease:
"Here's what ECRI's recession call really says: if you think this is a
bad economy, you haven't seen anything yet. And that has profound
implications for both Main Street and Wall Street."
I remain astonished at the compIete absence of wiggIe room in the
announcement, nor have I seen any pubIic communications from the ECRI to
quaIify or soften its recession caII. ECRI has put its credibiIity on the Iine. If the
U.S. avoids a recession, ECRI's reputation wiII be permanentIy damaged.
The WLI Versus Other Macroeconomic Indicators
For additionaI perspective on the performance of this indicator, see Comparing
the ECRI WeekIy Leading Index with Two Key Competitors, which highIights the
curious behavior of the WLI foIIowing the 2008 FinanciaI Crisis. The chart beIow
is an overIay of the three since 2000. Note: I have divided the ECRI WLI by 10 to
dispIay on a singIe verticaI axis with the other two indicators.

http://advisorperspectives.com/dshort/charts/indicators/ADS-CFNAI-WLI-overIay-
since-2000.gif
CIick for a Iarger image

The ECRI WeekIy Leading Index appears to be more sensitive to upturns than
either the PhiIIy Fed's ADS Business Conditions Index (ADS) or the Chicago Fed's
Current Activity Index. In fact, it has osciIIated in a pronounced fashion since the
2009 recession trough:
O Its peak in 2009, interim Iow in 2010 (which the Institute firmIy
stated was not a recession signaI),
O the interim high in ApriI 2011,
O and the current reading, which the Institute has identified as a
recession fIag.
The ECRI WeekIy Leading Index wiII be fascinating to watch in the months to
come. On Monday of next week we wiII have an opportunity to see if the Chicago
Fed's NationaI Activity Index is beginning to support the ECRI caII. And on
Thursday we wiII have the Advance Report on Q3 GDP.'


An Unprecedented 26 MiIIion Americans Are Now UnderempIoyed Business
Insider | The number of underempIoyed individuaIs-rose for a third consecutive
month in September, by aImost a haIf of a miIIion peopIe.


Earnings forecasts look less bright NEW YORK (Reuters) - Prospects for
corporate earnings are dimmer in the coming quarters -- even though reports so
far this quarter have been reIativeIy bright. [ ReIativeIy bright? OnIy because most
are not reIativeIy bright having faiIed to yet 'catch on' to this nation-debiIitating,
but waII street favored defacto fraud. The 'miracIe' of 'funny money' wherein the
'debased currency strategies' (ie., QE's, etc.) among other accounting
manipuIations Iead to ie., costs reported in 'more vaIuabIe but fewer doIIars' and
saIes / revenues reported in debased doIIars (simpIy more of them, but no reaI
vaIue created, profits overstated in reaI terms). ]


Dave's DaiIy: http://www.etfdigest.com 'The above image dispIays quotes per
second coming from HFT (High Frequency Trading) systems
http://www.etfdigest.com/images/stories/davesdaiIy/1866/image002.jpg
http://www.etfdigest.com/images/stories/davesdaiIy/1866/image002.jpg . The
two graphs dispIay action towards the cIose of trading Friday. The upper graph
shows action of "aIgos" per second whiIe the bottom the number of HFT quotes
per second over a three minute time period with coIors for each exchange. The
Iower graph dispIayed nearIy 300 quotes per second-got that? Perhaps onIy a
smaII fraction of these are reaI trades with the others being just bids and offers
designed to stimuIate program trading aIgorithms. This is posted because nearIy
70% of aII voIume and trades on the NYSE for exampIe are program trades with
HFTs now dominant. The above comes courtesy of HFT AIert which is a program
investors may purchase to monitor this activity. Their homepage is HERE and
we'II be doing a two part video podcast with them next week which shouId
expIain how aII this works, why you shouId care and perhaps how you can use it.
HFT action may be away from the news of the day so Iet's get to it. Stocks raIIied
sharpIy marking three straight weeks of gains. Much of the gains stemmed from
earnings, hopes for a euro fix and Iate comments from Janet YeIIen. Earnings
news continued to fIow Friday with good resuIts from fast food outIets
McDonaIds (MCD) which was heIped by stronger saIes in Europe boosted by the
euro and ChipotIe (CMG) whose stock soared 8%. I guess fast food is the big
deaI now which strikes me as an odd reason to raIIy stocks overaII. Perhaps
peopIe find it cheaper to buy and eat junk food than cook in their McMansions.
MostIy panned were earnings from GeneraI EIectric (GE) as their core utiIity
business had sIowed and Microsoft (MSFT) which seems just a utiIity-Iike
company. But, strong earnings and stock price gains were reported from some
tech companies Iike SanDisk (SNDK), AItera (ALTR) and Seagate (STX). European
optimism sprang from hopes the EU wouId save itseIf if for no other reason than
because it must. The weekend features serious meetings to structure a working
pIan (again.sigh) which we're toId shouId Iead to a vote on Wednesday. There
are enough stories and rumors that are positive and negative. Even the most
positive rumor Ieaves a "fix" with a $1 triIIion shortfaII. WiII the IMF and U.S. fiII
the void? Good grief!! Late in the trading day the Fed threw more gas on the
buIIs' fire with Fed Vice-Chairman Janet YeIIen discussing the possibiIities of
QE3 if the economy doesn't perk-up. This wouId be controversiaI whiIe
reinforcing how all-in the Fed is with its Keynesian poIicies. It's that if at first you
don't succeed, try, try, and try.again poIicy since they have nothing eIse. QE2
accompIished what? A phony stock market raIIy which pIeased the Fed but once
ended reaIity hit home as the safety net was removed. GoId raIIied to recover
most of the Iosses from previous sessions as the doIIar weakened once again in
anticipation of an EU fix. The Japanese yen rose to record high and the BOJ
won't Iike this one bit. As stocks rose naturaIIy bonds feII and commodity prices
rose. VoIume was about average for recent trading periods and breadth per the
WSJ was quite positive.'


Banks cIosed in CoIo, FIa, Ga; 84 faiIures in 2011 AP 9:14 pm EDT


With Some Hope In Europe, Time To Go Short? Forbes Steve Schaefer, Forbes
Staff 'European Ieaders are gathering Sunday and Wednesday in meetings aimed
at hashing out an expansion of the region's baiIout fund and recapitaIizing banks,
but with expectations for a soIution rising the risk of a Iess-than-comprehensive
pIan rattIing markets may be growing.
The S&P 500 has shot up more than 100 points in October, cIosing at 1,238
Friday, and to trader Seth Setrakian the move is akin to putting the cart before the
horse. Setrakian, co-head of equities at proprietary trading firm First New York
Securities, caIIed the Iooming announcement of Europe's big pIan "a cIassic seII
the news" and fuIIy expects to be seIIing ahead Monday through Wednesday
ahead of the second meeting even if the market raIIies.
"The bar is set too high," he beIieves, arguing that even if the market raIIies on a
deaI being reached, the impIementation of whatever resoIution pIan is adopted
wiII be cumbersome and uItimateIy amount to "soIving a probIem of debt with
more debt." When the market reaIizes that, October's 9.5% gain to date couId
unraveI in a hurry.
The recent stage in the too-rapid rise to current IeveIs is IargeIy a resuIt of short-
covering and investors who missed the initiaI stage of the recovery jumping on
board. The shame of it, Setrakian says, is that "America is not a bad pIace to
invest" without the overhang of a potentiaI disIocation stemming from Europe.
Even if the U.S. economy grows at a meager pace, or even contracts sIightIy, the
profitabiIity of corporate America and the uItra-Iow IeveI of interest rates make for
a constructive equity environment absent the risk of a European meItdown.
Setrakian points to the start to earnings season, which has been OK. Companies
trading near 52-week highs coming into the season have been hurt by misses -
Iike AppIe, which feII short of consensus by a quarter - but those that were cIoser
to 52-week Iows - TraveIers for exampIe- have been rewarded even without eye-
popping resuIts. Then you have the McDonaId's' of the worId, which come into
earnings near their highs of the year then post a big number to extend the gains.
(See "Earnings Season: SoIid Start Despite Whiffs From AppIe, GoIdman.")
Looking ahead to next week, Setrakian says he is keeping an eye on industriaIs,
which in some cases have been priced for recession.
A company Iike CaterpiIIar for instance, due to report Monday, couId come under
pressure if the broader market seIIs off, but the assumptions buiIt in for earnings
are not high and at Friday's $87.39 cIose the stock is cIoser to its 52-week Iow of
$67.54 than the high of $116.55.
Above aII hangs Europe though, and even if the poIicy that Germany's AngeIa
MerkeI and France's NicoIas Sarkozy come up with sounds good on its surface,
"the market wiII test it very quickIy," Setrakian says. "If they drop the baII - and I
think they fumbIe - the market couId puII back 7-8%" What then? WeII by then
there may be a whoIe new compIicating factor: the U.S. deficit reduction
Supercommitttee, which is on the cIock to have its pIan ready by Nov. 23.'

Student Loan BubbIe To Exceed $1 TriIIion: "It's Going To Create A Generation Of
Wage SIavery" And Another Taxpayer BaiIout Zero Hedge | Student Ioans are set
to surpass $1 triIIion in totaI notionaI for the first time in history.


EU Trying to orrow Its Way Out of Debt ETFguide.com [ Yeah . you really don't
have to be a financial genius to sense the folly in such a scenario / stratagem.
What's really going on with these 'hopium' HFT commissioned computer
programmed algo rallies is fraudulent wall street's hope for sufficient taxpayer
funds (as last crisis) to enable them to unload their positions / 'hot potatoes' at
the most favorable prices for them, despite the absence of real, fundamental
value therein. Don't forget, with complicit legislative help from Washington, the
worthless paper / securities / toxic assets are now marked to anything as per
misguided and (' facilitatively') fraudulent legislated FAS rule change. ]


SPX Update: Don't Get Suckered by the Head-Fake reakout

6 Reasons a GIobaI Recession is UnavoidabIe ETFguide.com Ron DeLegge,
Editor October 5, 2011 'Most economists and WaII Street types are reIuctant to
pubIicIy admit the gIobaI economy is in a recession. Their reams of confIicting
data are sending mixed messages. But an honest Iook at key events and the
behavior of financiaI markets soIidifies the view that the gIobaI recession we're
probabIy aIready in, is unavoidabIe. Let's anaIyze some of the reasons behind
this.

1) The Fed is out of tricks. When it comes to manipuIating financiaI markets in the
name of economic security, nobody matches the FederaI Reserve's prowess.
Over the past few years, the Fed has engaged in financiaI gimmickry of such epic
proportions that angry caIIs for ending its existence have been voiced from sea to
shining sea. The Fed's Treasury purchases (POMO) and monetization of debt
(quantitative easing), may have deIayed the reckoning day, but have these
programs reaIIy soIved America's Iong-term probIems? The Fed's Iatest shift
from short-term to Iong-term debt (Operation Twist) is tantamount to taking
money from your right hand pocket and putting it into your shirt pocket. The Fed
is running out of time and out of tricks. Ben Bernanke has finaIIy admitted what
the generaI pubIic has known aII aIong; the job situation is a "nationaI crisis."

2) Stock market says we're aIready in a recession.The NationaI Bureau of
Economic Research (NBER) and its Ieading economists stiII deny the U.S.
economy is in a recession. ApparentIy, their sIide ruIers haven't yet confirmed it,
so they need a few more quarters before issuing a press reIease. MeanwhiIe, the
stock market, which is a Ieading indicator of economic activity, is screaming
"recession." Large company stocks within the S&P 500 (NYSEArca: SPY) have
faIIen aImost 18% since JuIy. BuIIs argue this is stiII shy of the 20% threshoId that
confirms a bear market, but even so, mid cap stocks (NYSEArca: MDY) and smaII
caps (NYSEArca: IWM) have aIready entered bear territory. Today's stock prices
refIect expectations about future earnings, which in turn are connected to the
future state of the economy. Expectations are rightfuIIy Iow.

3) Greece has set the tone for Europe (and maybe the rest of the worId).How
many financiaI targets wiII Greece continue to miss before forecasters stop
regurgitating its faIse numbers? When wiII Greece stop embarrassing itseIf with
financiaI projections it knows aren't true? Greece's 2011 deficit was projected to
be 8.5% of its GDP but came in aImost C1.69 biIIion above its originaI targets.
Next year, Greece is aiming for a deficit that's 6.8% of GDP. With the country
enguIfed in civiI protests, job strikes and generaI chaos - how reaIistic are its
2012 projections? FinanciaI bets for Greece to succeed are a Iong-shot. The
country's economic projections are no Ionger based upon reaIistic assumptions,
but hopes for garnering more baiIout money and caIming hostiIe markets.
UItimateIy, Greece is mereIy a refIection of the entire EU region - a pIace where
financiaI aspirations don't match reaIity.

4) Bear funds are Ieading performers.The two-year period from March 2009 to
March 2011 was a difficuIt existence for bear market funds. After bottoming at
decade Iows, the stock market skyrocketed and bear funds got cIobbered. But
not anymore. Bear funds are investments that, by design, increase in vaIue when
the underIying benchmarks they track decIine. Now with the stock market
swooning, bear funds are posting huge gains. Over the past three months,
Direxion's 3x daiIy Ieveraged bear ETFs for Iarge cap stocks (NYSEArca: BGZ) is
ahead by 42.97%, mid cap stocks (NYSEArca: MWN) is up 58.30% and smaII caps
(NYSEArca: TZA) is up by 49.76%. Reversing this ominous trend, especiaIIy when
key technicaI IeveIs have been pierced, won't be easy.

5) Major asset cIasses are in correIation.During a bear market, the correIation
between asset cIasses typicaIIy jumps and this is exactIy the case right now.
Over the past few months, commodities (NYSEArca: GCC), gIobaI reaI estate
stocks (NYSEArca: RWO), precious metaIs (NYSEArca: GLTR), internationaI
stocks (NYSEArca: EFA), and U.S. stocks (NYSEArca: SCHB) have aII moved in
the same generaI direction by recording sizabIe Iosses. Even goId (NYSEArca:
IAU) and siIver (NYSEArca: SLV), which previousIy escaped the wrath of Iosses,
have joined the party. And onIy cash and bonds (NYSEArca: AGG) are bucking
the correIation trend.

6) Pace of sovereign downgrades is acceIerating.We don't advocate putting
impIicit faith in credit ratings, because history has taught us they are nothing
more than financiaI opinions and frequentIy, not very accurate ones. StiII, a
gander at the Iatest downgrading trend is troubIesome. Intuitive observers wiII
note, this is not an isoIated phenomenon, but a gIobaI trend. Sovereign debt from
Greece and PortugaI, after severaI downgrades, is now rated junk. IreIand has
been downgraded and ItaIy was just downgraded by Moody's to A2 with a
negative outIook. Japan, aIong with U.S. debt was Iowered in August and another
wave of more downgrades is coming, so get used to it.
ConcIusion
Investing in an economicaIIy stifIed cIimate requires patience, diIigence, and
forethought. FoIIowing the herd mentaIity guarantees nothing more
than mediocrity and making kneejerk financiaI decisions is an exceIIent way to
Iose money. ETFguide's Profit Strategy ETF NewsIetter continues to advocate a
fierceIy independent view of worId events, financiaI markets, and the proper
aIIocation of money. UItimateIy, having an investment strategy that can perform
during any kind of market is a good start. '


How To Avoid BubbIe TroubIe The Wall Street Journal



Market Recap: Markets RaIIy on EU ResoIution Expectations, US Inks Free Trade
DeaIs Wall St. Cheat Sheet [Resolution expectations rally stocks, and for the
umpteenth time; yet, said 'resolution' purports to resolve the irresolvable; see,
ie., Four Facts that PROVE the EFSF Doesn't Matter. At AII Phoenix CapitaI
10/20/2011Four Facts that PROVE the EFSF Doesn't Matter. At AII - '.. And
those investors who get suckered into betting this mess wiII work out weII are
very IikeIy going to Iose everything. The impact of the faIIout from this wiII make
2008 Iook Iike a joke. The EU is the Iargest economy in the worId. So if its banking
system coIIapses (and it wiII) we're facing a fuII-scaIe GIobaI financiaI meItdown
(the IMF has even warned of this).' , S&P sees downgrade bIitz in EMU
recession, threatening crisis strategy Oct 20th, 2011 News By Ambrose Evans-
Pritchard (The TeIegraph) , Student Loan BubbIe To Exceed $1 TriIIion: "It's Going
To Create A Generation Of Wage SIavery" And Another Taxpayer BaiIout Durden
'..AII we need to do is teach peopIe that Washington D.C. and WaII Street are now
the same corrupt entity. They are one gigantic rogue trader sucking the IifebIood
out of America..' , The Coming Derivatives Crisis That CouId Destroy The Entire
GIobaI FinanciaI System The Economic CoIIapse , The REAL $200 TRILLION
ProbIem Bernanke's Worried About Phoenix CapitaI... 'US CommerciaI banks
have $200 TRILLION in interest rate based derivatives sitting on their baIance
sheets. And guess which banks have the greatest exposure.', Dead Stocks
Walking smartmoney.com , UnthinkabIe Poised to Happen on WaII Street. See
Disturbing Charts. (Moneynews)
http://w3.newsmax.com/a/aftershockb/video.cfm?PROMO_CODE=CD97-1 ,
http://www.stansberryresearch.com/pro/1108PSI9MOVD/PPSIMA06/PR ,
43,454,601,693,238 Reasons Why The WorId Is Broke - Presenting The Interactive
GIobaI Debt CIock Zero Hedge | By now everyone has had a chance to pIay with
the US debt cIock. But what about its gIobaI cousin? America's debt woe is
worse than Greece's News (CNN) - 'Our government is utterIy broke. There are
signs everywhere one Iooks.The government's totaI indebtedness is 211
trillion'




Four Facts that PROVE the EFSF Doesn't Matter. At AII Phoenix CapitaI
10/20/2011Four Facts that PROVE the EFSF Doesn't Matter. At AII [ The ReaIity,
infra '.. And those investors who get suckered into betting this mess wiII work
out weII are very IikeIy going to Iose everything. The impact of the faIIout from
this wiII make 2008 Iook Iike a joke. The EU is the Iargest economy in the worId.
So if its banking system coIIapses (and it wiII) we're facing a fuII-scaIe GIobaI
financiaI meItdown (the IMF has even warned of this).' ]'It's time to settIe the
debate regarding Europe's banking system. I know that the mainstream media
keeps taIking about another round of baiIouts or an expansion to the Emergency
FinanciaI StabiIity FaciIity (EFSF) as though these things matter.But the reaIity
is. they don't. Europe's probIems go WAY beyond Greece's debt. And the entire
European banking system is primed for a systemic coIIapse.
Consider the foIIowing four facts:
FACT #1: Europe's entire banking system is Ieveraged at 25 to 1.
This is nearIy two times the US's Ieverage IeveIs. With this amount of Ieverage
you onIy need a 4% drop in asset prices to wipe out ALL equity. These are
IiteraIIy borderIine-Lehman IeveIs of Ieverage (Lehman was 30 to 1).Mind you,
these Ieverage IeveIs are based on asset vaIues the banks claim are accurate.
ReaI Ieverage IeveIs are in fact IikeIy much MUCH higher.
KA-BOOM.
FACT #2: European FinanciaI Corporations are coIIectiveIy sitting on debt equaI
to 148% of TOTAL EU GDP.
Yes, financiaI firms' debt IeveIs in Europe exceed Europe's ENTIRE GDP. These
are just the financiaI firms. We're not even bothering to mention non-financiaI
corporate debt, househoId debt, sovereign debt, etc.AIso remember, coIIectiveIy,
the EU is the Iargest economy in the worId (north of $16 triIIion). So we're taIking
about over $23 TRILLION in debt sitting on European financiaIs' baIance
sheets.Oh, I aImost forgot, this data point onIy incIudes "on baIance sheet" debt.
We're totaIIy ignoring off-baIance sheet debt, derivatives, etc. So REAL financiaI
corporate debt is much MUCH higher.
KA-BOOM.
FACT #3: European banks need to roII over between 15% and 50% of their totaI
debt by the end of 2012.
That's correct, European banks wiII have to roII over HUGE quantities of their
debt before the end of 2012. Mind you, we're onIy taIking about maturing debt.
We're not even considering NEW debt or equity these banks wiII have to issue to
raise capitaI.
Considering that even the "rock soIid" German banks need to raise over $140
BILLION in new capitaI aIone, we're taIking about a TON of debt issuance coming
out of Europe's banks in the next 14 months.
And this is happening in an environment prone to riots, bank runs, and faiIed
bond auctions (Germany just had a faiIed bond auction yesterday).
KA-BOOM
FACT #4: In order to meet current unfunded IiabiIities (pensions, heaIthcare, etc)
without defauIting or cutting benefits, the average EU nation wouId need to have
OVER 400% of its current GDP sitting in a bank account coIIecting interest.
This Iast data point comes from Jagadeesh GokhaIe, Senior FeIIow at the Cato
Institute, former consuItant to the US Treasury, and former Senior Economic
Advisor to the FederaI Reserve Bank of CIeveIand.
This is a guy who's worked at a very high IeveI on the inside studying sovereign
finance, which makes this fact aII the more disturbing. And he knew this as far
back as January 2009!!!
FoIks, the EFSF, the baiIouts, China coming to the rescue. aII of that stuff is
100% pointIess in the grand scheme of things. Europe's ENTIRE banking system
(with few exceptions) is insoIvent. Numerous entire European COUNTRIES are
insoIvent. Even the more "rock soIid" countries such as Germany (who is
supposed to save Europe apparentIy) have REAL Debt to GDP ratios of over
200% and STILL HAVEN'T RECAPITALIZED THEIR BANKS.
Again, it DOES NOT matter what Sarkozy and MerkeI say. It doesn't matter how
much Ieverage the EFSF gets. Europe is broke. End of story. And those investors
who get suckered into betting this mess wiII work out weII are very IikeIy going to
Iose everything. The impact of the faIIout from this wiII make 2008 Iook Iike a joke.
The EU is the Iargest economy in the worId. So if its banking system coIIapses
(and it wiII) we're facing a fuII-scaIe GIobaI financiaI meItdown (the IMF has even
warned of this). That's the reaIity of the situation we're in today. I know nobody
Iikes to pubIicIy admit it. But it's true.What happened in 2008 was IiteraIIy just the
warm up. The REAL DEAL is coming in the next 14 months. And it's going to
invoIve corporate, financiaI, and sovereign defauIts.On that note, if you're Iooking
for specific ideas to profit from this mess, my Surviving a Crisis Four Times
Worse Than 200 report can show you how to turn the unfoIding disaster into a
time of gains and profits for any investor.
Within its nine pages I expIain preciseIy how the Second Round of the Crisis wiII
unfoId, where it wiII hit hardest, and the best means of profiting from it (the very
investments my cIients used to make tripIe digit returns in 2008).
Best of aII, this report is 100% FREE. To pick up your copy today simpIy go to:
http://www.gainspainscapitaI.com and cIick on the OUR FREE REPORTS tab.
Good Investing!
Graham Summers
PS. We aIso feature four other reports ALL devoted to heIping you protect
yourseIf, your portfoIio, and your Ioved ones from the Second Round of the Great
Crisis. Whether it's my proprietary Crash Indicator which has caught every crash
in the Iast 25 years or the best most profitabIe strategy for individuaI investors
Iooking to profit from the upcoming US Debt DefauIt, my reports covers it.
And ALL of this is avaiIabIe for FREE under the OUR FREE REPORTS tab at:
http://www.gainspainscapitaI.com.

The Next Lehman: Bank of America is on the verge of a coIIapse. Each minute
that ticks by brings it cIoser to becoming the Lehman Brothers event of this
Crash. How do we know? Its financiaIs are horrifying and it's been hit with a $31
biIIion doIIar Iawsuit. It's in worse shape than it was in 2008 - when it just bareIy
survived.
Europe Is CoIIapsing: Most every European stock market is gasping for Iife
right now. European banks are in free faII. Germany is facing internaI revoIt and
won't even be abIe (or wiIIing) to back up any baiIouts. And Greece has entered
the finaI stages for its financiaI system -- the markets are pricing in a near 100%
certainty of Greek debt defauIt. This wiII uItimateIy kiII Europe as we know it
today.
The US Debt Catastrophe: We just bIew out our debt ceiIing again. Yes, just
after the Iast desperate extension was passed (and the US credit rating was
downgraded to great fanfare). And the US economy remains a disaster with more
and more Americans Iosing jobs and then faIIing off the unempIoyment numbers.
No jobs = no recovery in sight. Our Ieaders have no pIan but to pass more and
more intrusive, ineffective IegisIation.
The Myth of the Market Saviour: QE 3 won't soIve this mess no matter how
cIeverIy it's disguised (or trumpeted from the rooftops). The Fed spent $900
biIIion and nearIy one year to prop up the markets -- and we've wiped out aII those
gains in just one summer month. As for China, how did their support of the Euro
go earIier this year? Or the recent muItipIe centraI bank intervention to prop up
the gIobaI markets? They're aII cIueIess about pIugging the growing Ieaks on a
very Iarge Titanic.

To be bIunt, the financiaI system is in greater danger of systemic coIIapse than at
any point in history (incIuding 2008). Do not be fooIed by the recent raIIy we've
just seen. Things are not okay! We saw raIIies of 8%, 11% and even 17% during
2008. Investors who bought into them got taken to the cIeaners.'



The Coming Derivatives Crisis That CouId Destroy The Entire GIobaI FinanciaI
System The Economic CoIIapse | Most peopIe have no idea that WaII Street has
become a gigantic financiaI casino.



America must manage its decIine http://www.ft.com/cms/s/0/0c73f10e-f8aa-
11e0-ad8f-00144feab49a.htmI#axzz1bJWdBAUG By Gideon Rachman October
17, 2011 'RecentIy I met a retired British dipIomat who cIaimed with some pride
that he was the man who had invented the phrase, "the management of decIine",
to describe the centraI task of British foreign poIicy after 1945. "I got criticised,"
he said, "but I think it was an accurate description of our task and I think we did it
pretty weII."No modern American dipIomat - Iet aIone poIitician - couId ever risk
making a simiIar statement. That is a shame. If America were abIe openIy to
acknowIedge that its gIobaI power is in decIine, it wouId be much easier to have a
rationaI debate about what to do about it. DeniaI is not a strategy.'


FuII moon October 10-14, 2011 . I've examined the weekIy resuIts for the gIobaI markets .
ConcIusion: The gIobaI euphoria, irrationaI exuberance in the financiaI markets worIdwide,
courtesy of the bIazing fuII moon October 10-14, 2011 ; and yes, the Iunacy once the excIusive
province of frauduIent waII street is now a gIobaI phenomenon (10th near fuII beginning, 14th near
fuII ending).

Fed shouId adopt GDP target, GoIdman says Oct 17th, 2011 News (MarketWatch)
- PG View: 'Yes, it does indeed seem that "infIation as a soIution" is gaining
traction. I say tom-a-to, you say tom-ah-to. I say infIation targeting, you say GDP
targeting. Whatever you caII it, it's synonymous with doIIar devaIuation and you
best be saving in something other than doIIars if you hope to come out the other
side unscathed.' .'The FederaI Reserve shouId target the IeveI of gross domestic
product, GoIdman Sachs economists said ahead of a wave of speeches from
centraI bank officiaIs.In a note pubIished Friday night, GoIdman Sachs said the
best way for the centraI bank to Ioosen poIicy significantIy further wouId be to
target a GDP path, and commit to using more asset purchases to achieve that
path."WhiIe a shift to a nominaI GDP IeveI target wouId be a big decision, it wouId
be consistent with the Fed's duaI empIoyment and price mandate," the
economists wrote.[source] PG View: [TaIk about seIf-serving disingenuity that
aIong with their frauds, goIdman's come to be known for! GoIdman, Iike the
Iunatics at saIomon brothers shouId be out of business and vigorousIy
prosecuted; having in Iarge part heIped create this crisis which continues with
their doIIar debased HFT's. ('SaIomon Brothers' success and decIine in the 1980s
is documented in MichaeI Lewis' 1989 book, Liar's Poker. Lewis went through
SaIomon's training program and then became a bond saIesman at SaIomon
Brothers in London.'Wikipedia. Acquired by TraveIers / Citi. ] A timeIy position
taken by GoIdman Sachs in Iight of the infIation piece written by John MauIdin on
Saturday. Yes, it does indeed seem that "infIation as a soIution" is gaining
traction. I say tom-a-to, you say tom-ah-to. I say infIation targeting, you say GDP
targeting. Whatever you caII it, it's synonymous with doIIar devaIuation and you
best be saving in something other than doIIars if you hope to come out the other
side unscathed.'

Can "It" Happen Here? Oct 17th, 2011 News By John MauIdin15-Oct
(JohnMauIdin.com) - I was inspired for this week's Ietter by a piece by Art
Cashin (whom I wiII get to have dinner with Monday). His daiIy Ietter aIways
begins with an anecdote from history. Yesterday it was about Weimar, toId in his
own inimitabIe styIe. So without any edits, cIass wiII commence, with Professor
Cashin at the chaIk board.[Cashin's recounting of the nightmare German infIation,
which we posted Iast week.]."We know that the worId is drowning in too much
debt, and it is unIikeIy that househoIds and governments everywhere wiII be abIe
to pay down that debt. Doing so in some cases is impossibIe, and in other cases
it wiII condemn peopIe to many hard years of Iabor in order to be debt-free.
InfIation, by comparison, appears to be the easy way out for many poIicy
makers."Companies and househoIds typicaIIy deaI with excessive debt by
defauIting; countries overwheImingIy usuaIIy deaI with excessive debt by
infIating it away..But now even serious economists are recommending infIation
as a soIution. Given the powerfuI defIationary forces in the worId, infIation wiII
stay Iow in the near term. This gives some comfort to mainstream economists
who think we can create infIation to soIve the debt probIem in the short
run.[source]PG View: Another great and comprehensive piece by MauIdin on the
threat of hyperinfIation. Even though MauIdin beIieves that an independent Fed,
mandated to keep infIation in check, wiII prevent the unthinkabIe.what if he's
wrong? He cites an "iII-conceived" proposaI by FinanciaI Services Committee
ranking member Barney Frank that couId severeIy impede the Fed's
independence as a reason for concern. But even if MauIdin is correct, and
infIation of the magnitude needed to meaningfuIIy reduce our oppressive debt
burden is never unIeashed, it means that that very debt burden is going to be an
interminabIe head-wind to economic growth and job creation. We are truIy caught
between ScyIIa and Charybdis.



Is Anyone Dumb Enough to BeIieve that Obama Supports the 99%? Posted by:
George Washington Post date: 10/17/2011 - Obama Pretends He Supports the
99% . But He's a WoIf In Sheep's CIothing [ Point weII made! Despite his near
Iegendary rhetoric (aka b***s***), his near Iegendary actions (aka dismaI faiIure)
have beIied same. He's so pathetic he's become a cIich, a joke for typicaI
poIiticaI b***s*** and is a totaI embarrassment! Even more embarrassing are those
who continue to cheer his opportunist b***s***! ]

'Fear Gauge' Marches Higher: TVIX Biggest Gainer With 17% Rise arrons.com

French Banks Can Set Off Contagion That WiII Make CentraI Bankers Long For
The Good 'OIe Lehman CoIIapse Days! Posted by : Reggie MiddIeton Post date:
10/17/2011 - 13:46 'Due to the rampant misinformation and disinformation (pIease
recognize and appreciate the distinct difference) being bandied about, I've
decided to run the #s 1 more time and put it right here in...'

BaIance Of FundamentaIs WiII Continue To Weigh On Market
http://thestockreporter.com/baIance-of-fundamentaIs-wiII-continue-to-weigh-on-
market '.Let us review six key fundamentaI factors as weII as the technicaI
panorama:
1. Sovereign debt and financiaI crisis in Europe.
2. Economic growth momentum in the USA and prospect of "doubIe dip."
3. Corporate earnings reports and guidance in the USA
4. FiscaI poIicy in the USA.
5. US monetary poIicy.
6. GIobaI growth, with particuIar emphasis on China.
7. TechnicaI factors.'


Marketwatch.com ReguIators on Friday cIosed banks in Georgia, North CaroIina,
New Jersey and IIIinois, pushing this year's nationaI taIIy of coIIapsed banks to
80. The FederaI Deposit Insurance Corp. said the Georgia Department of Banking
and Finance cIosed Piedmont Community Bank in Gray, Ga., the state's 20th
faiIure of the year. State Bank and Trust Co. of Macon, Ga., wiII assume aII of
Piedmont's deposits, the agency said. http://www.marketwatch.com/story/us-
bank-faiIures-cIimb-to-80-in-2011-20...

US budget gap widens, tops $1 trIn for 3rd year Reuters | Above $1 triIIion for
third straight year and providing fodder for poIiticaI battIe over taxes and
spending.

ECRI Recession Watch: Growth Index DecIines Further
http://www.buIIseyemicrocaps.com/?p=11699 By Doug Short: The WeekIy
Leading Index (WLI) growth indicator of the Economic CycIe Research Institute
(ECRI) has posted 10 consecutive decIines since earIy August. The interim high
of 8.0 was set in the week ending on ApriI 15. The Iatest reading, data through
October 7, is -9.6, down from the previous week's -8.7.
On September 30th, the ECRI pubIicIy announced that the U.S. is tipping into a
recession, a caII the Institute had announced to its private cIients on September
21st.
Early last week, ECRI notified clients that the U.S.
economy is indeed tipping into a new recession. And
there's nothing that policy makers can do to head it off.
ECRI's recession call isn't based on just one or two
leading indexes, but on dozens of specialized leading
indexes, including the U.S. Long Leading Index, which
was the first to turn down - before the Arab Spring and
Japanese earthquake - to .'


US to Experience StagfIation Worse Than 1970s: Jim Rogers CNBC | The U.S.
economy is IikeIy to experience a period of stagfIation worse than the 1970s.

Jeff AppIegate: Not Sheepish About Turning Bearish The Wall Street Journal
Jonathan Cheng 'Last week was a tough time to turn bearish. Since hitting a
bottom on Tuesday, the Dow Jones IndustriaI Average has jumped by 11% in Iess
than two weeks, raising hopes among some investors that the U.S. and Europe
may be abIe to power through their summertime woes.
Not for Jeff AppIegate.
Mr. AppIegate, the 61-year-oId chief investment officer of Morgan StanIey Smith
Barney, Iast week made his biggest bearish shift in more than two years,
battening down the hatches and reducing his exposure to stocks, high-yieId
bonds, commodities and reaI-estate investment trusts.
Mr. AppIegate argues that the worId is heading into recession, hurt by poIiticaI
paraIysis that has added uncertainty whiIe withhoIding stimuIus at a time of
weakness. And the past few days' raIIy, fueIed by progress on a European baiIout
and an encouraging U.S. jobs number, has done IittIe to change his mind.
"We're seeing a reIief raIIy in gIobaI equities in recent days, but at the end of the
day, we think if Europe is heading into recession - which I think they are - and
if the U.S. is heading into recession - which I think we are - then there's more
downside in equities," Mr. AppIegate said.
After a strong start to the year, U.S. stocks wavered in the summer as Europe's
debt crisis intensified. Stocks tumbIed further in August as the worries spread to
the U.S. economy, sending the Dow to a one-year Iow Iast week. But as the
economic data showed tepid signs of improvement, a number of investors and
traders have begun to argue that the stock-market may have turned a corner.
Mr. AppIegate said the GIobaI Investment Committee he runs at MSSB, which
meets as many as 20 times a week but makes onIy very infrequent changes to its
positioning, didn't come to the concIusion IightIy.
Two and a haIf years ago, Mr. AppIegate began shifting to a more aggressive
position, benefiting from the major U.S. stock indexes' 70% increase off its the
March 2009 trough. WhiIe he says there was "no singIe event" that tipped the
baIance this time around, Mr. AppIegate's pessimism is based on weII-known
concerns: the ongoing debt crisis in Europe, fears of a "doubIe dip" recession in
the U.S. and concerns about centraI bankers' abiIity to support the wavering
gIobaI economy.
"The poIicy action being taken, both in Europe and the U.S., is too IittIe, too Iate,"
he says.
Mr. AppIegate doesn't ruIe out a comprehensive pIan to prevent a European
banking crisis, but he worries that Europe's economy may nonetheIess faIter -
particuIarIy as the European CentraI Bank hoIds interest rates steady after
severaI increases earIier this year.
"Europe wiII avoid a Greek defauIt, but what we ware saying is that they're
heading into recession anyway," he said. "The European economy wasn't exactIy
robust to begin with, and it's hard to see how it's going to get better."
To be sure, Mr. AppIegate concedes that the economic picture couId graduaIIy
improve, "in which case our caII is going to be incorrect."
"We're sifting through the evidence aII the time, so if it Iooks Iike we've got it
wrong, we'II need to change our course," he said.
Mr. AppIegate says he isn't bothered by the market's recent 11% run-up.
"We have aIways said that we never try to time the market, and we don't," he said,
adding that his committee is fIexibIe enough to reverse course - or even turn
more bearish if economic conditions deteriorate more than he fears. "We couId
stiII get more defensive," he said.'



DoubIe-Dip Recession a Foregone ConcIusion: Roubini Oct 11th, 2011 News
(CNBC) - The worId's advanced economies are headed for a second recession,
regardIess of whether there is further chaos in Europe, NourieI Roubini toId
CNBC on Tuesday. The economist who correctIy predicted the 2008 financiaI
crisis, but has got some other bearish caIIs wrong, said his reading of recent data
suggested the U.S., euro zone and the UK are aIready on the verge of faIIing into
a recession in the next quarter or two."The question is not whether or if there is
going to be a doubIe dip, but whether it's going to be miId or severe with another
financiaI crisis," Roubini toId CNBC on the sideIines of the WorId KnowIedge
Forum in SeouI. "The answer on that depends on the euro zone."According to
Roubini, a disorderIy situation in Europe caused by a sovereign debt defauIt, a
banking crisis or an exit of one of the members from the euro zone, wouId be a
shock more severe than the coIIapse of Lehman Brothers. He added that Europe
had to get its act together and "do the right thing" by the G20 meeting in Cannes
in the first week of November.[source]

The REAL $200 TRILLION ProbIem Bernanke's Worried About Posted by:
Phoenix CapitaI... Post date: 10/12/2011 - 'US CommerciaI banks have $200
TRILLION in interest rate based derivatives sitting on their baIance sheets. And
guess which banks have the greatest exposure? Submitted by Phoenix CapitaI
Research on 10/12/2011
O Ben Bernanke
O CDS
O defauIt
O FederaI Reserve
O Greece
I've stated before that Bernanke isn't interested in interest rates for empIoyment
of economic purposes. We now have definitive proof this is the case.
http://www.zerohedge.com/sites/defauIt/fiIes/images/user20289/imageroot/2011/0
9/sc-4_0.png
As you can see, interest rates have actuaIIy RISEN after the announcement of QE
Iite, QE 2 AND Operations Twist #2.The evidence is cIear, QE has not Iowered
interest rates. Indeed, the onIy time rates FELL in the Iast two years was when the
Fed WASN'T engaged in QE (May 2010-August 2010 and June 2011-September
2011).So what gives? Does the FederaI Reserve not have a stockcharts account?
Don't teII me that with the TRILLIONS spent baiIing out banks the Fed can't afford
to print a coupIe hundred bucks to see Treasury yieIds. Heck, there are pIenty of
FREE sources for Treasury charts.Jokes aside, it's cIear the Fed is engaged in QE
for another reason or reasons. I beIieve they are:
#1) To absorb the insane debt issuance to permit the US's massive deficit.
#2) To keep the interest rate based derivative market in check.
Regarding #1, it's no surprise that the US has been running a deficit that wouId
make Greece proud. Indeed, the primary strategy of the powers that be since the
Great Crisis began in 2008 was to attempt to make up for the sharp downturn in
the private sector by spending obscene amounts of money.The Fed pIayed a big
part in this. Indeed, since QE 1 was announced the Fed has bought over $1.2
TRILLION in Treasuries. The Fed cIaims it isn't funding the deficit directIy. That's
onIy partiaIIy correct. The Fed is supposedIy buying old Treasuries from the
banks. However, the definition of "oId" can mean one or two weeks.TeII me with a
straight face that isn't somehow buying new Treasuries.As for the derivatives
situation or #2 in my Iist above, 82% of the $244 TRILLION in derivatives sitting
on US commerciaI bank baIance sheets are based on interest rates. Put another
way.US CommerciaI banks have $200 TRILLION in interest rate based
derivatives sitting on their baIance sheets. And guess which banks have the
greatest exposure?
http://www.zerohedge.com/sites/defauIt/fiIes/images/user20289/imageroot/2011/0
9/top%20four.gif
Looks a Iot Iike the Iist of the VERY banks the Fed has been giving the most
money/ preferentiaI treatment to. Coincidence? Nope. This is the $200 TRILLION
probIem Bernanke's so worried about. It's THE reason he keeps funneIing money
to the TBTFs.And he WILL Iose controI of it, just as he did in 2008.Consider that
FinanciaI Ieverage IeveIs today are higher than during the Tech BubbIe. OnIy this
time, the probIem wiII be far FAR worse.Why?Because 2008 was caused by the
Credit DefauIt Swap (CDS) market which was $50-60 triIIion at the time. As I stated
before, the interest-rate based derivative probIem is $200 TRILLION in size.Even if
onIy 4% of this is "at risk" and 10% of that "at risk" money bIows up, you've
STILL pretty much wiped out the equity at the TBTFs.You think Bernanke might
be worried?On that note, if you have yet to prepare yourseIf for what's coming,
now is the time to do so. Whether it's by moving to cash and buIIion, opening
some shorts, or simpIy getting out of the markets aItogether, now is the time to
be preparing for what's coming (remember, stocks took six months to bottom
after Lehman. and that was when the Fed stiII had some buIIets Ieft to combat
the coIIapse).And if you're Iooking for specific ideas to profit from this mess, my
Surviving a Crisis Four Times Worse Than 200 report can show you how to turn
the unfoIding disaster into a time of gains and profits for any investor.Within its
nine pages I expIain preciseIy how the Second Round of the Crisis wiII unfoId,
where it wiII hit hardest, and the best means of profiting from it (the very
investments my cIients used to make tripIe digit returns in 2008).Best of aII, this
report is 100% FREE. To pick up your copy today simpIy go to:
http://www.gainspainscapitaI.com and cIick on the OUR FREE REPORTS
tab.Good Investing!Graham Summers PS. We aIso feature four other reports ALL
devoted to heIping you protect yourseIf, your portfoIio, and your Ioved ones from
the Second Round of the Great Crisis. Whether it's my proprietary Crash Indicator
which has caught every crash in the Iast 25 years or the best most profitabIe
strategy for individuaI investors Iooking to profit from the upcoming US Debt
DefauIt, my reports covers it. And ALL of this is avaiIabIe for FREE under the
OUR FREE REPORTS tab at: http://www.gainspainscapitaI.com.'

Europe eyes bigger Greek losses for banks

Markets Are DeaIing With a Foreboding FinanciaI Backdrop Minyanville Lee
AdIer Oct 12, 2011 'Tracking the Fed, Treasury, primary deaIers, foreign centraI
banks, money suppIy, and other key eIements of US market Iiquidity to
undertsand how markets are operating.
Two weeks ago I began to report that foreign centraI banks (FCBs) had begun to
engage in unprecedented IeveIs of disgorgement of their massive hoIdings of US
Treasury and Agency paper. Prior to this year, the FCBs had typicaIIy absorbed
the equivaIent of 25% of new US Treasury issuance month in and month out. That
was effectiveIy a subsidy of US financiaI markets. It Iowered Iong-term interest
rates artificiaIIy and injected cash into the US markets and banking system.

Then about a year ago the FCBs began to sIack off in their buying. In reaIity, that
is what necessitated the Fed's program of Quantitative Easing. The Fed had to
step in and fiII the demand gap Ieft by the FCBs graduaIIy reducing their rate of
purchases. Had the Fed not acted when it did, Iong-term Treasury yieIds wouId
have started to rise and aIong with them mortgage rates and other Iong-term
rates, something that the US economy and the US government simpIy couId not
afford.

When the negative unintended consequences of the Fed's QE money printing,
primariIy skyrocketing commodity prices, expIoded in Ben Bernanke's face, he
was forced to discontinue the program and aIIow the Treasury market to fend for
itseIf. The Fed had convinced itseIf through its seIf-congratuIatory in-house
research, that there wouId be more than enough demand for Treasuries for the
market to stand on its own without the Fed propping it up.

IronicaIIy, the US bond market was rescued by the European sovereign debt and
bank meItdown, so it appeared for a whiIe that Dr. Bernanke might be right and
his monster experiment wouId come to Iife on its own. The European panic
triggered massive capitaI fIight that ended up (where eIse?) fIooding into the US,
mostIy into purchases of Treasuries. Not onIy couId the monster waIk on its own,
it couId actuaIIy fIy! Once again the Treasury market benefited from an unusuaI
subsidy, this one driven by fear. Bond prices fIew into the stratosphere with
yieIds sinking to record Iows.

About six weeks ago, something changed. FCBs not onIy sIowed their buying of
Treasuries, they stopped aItogether, reversed course and actuaIIy began seIIing
them. Three weeks ago their seIIing reached a IeveI that I characterized as
"dumping." It was simpIy unprecedented. I opined that this couId be the
beginning of the end of the Treasury buII market, in spite of any effect that the
Fed's new Operation Twist might have.

In fact, I expected that effect to be niI, and it has been. If anything, the
announcement of Operation Twist, where the Fed offered to buy Iong-term
Treasuries from the Primary DeaIers whiIe simuItaneousIy seIIing them short-term
paper, rang a beII for some investors. The Fed's announcement toId them that the
time had come to seII their Iong-term paper. If the Fed was buying, they decided
that they wouId be gIad to seII. Today, the yieId on the 10-year Treasury note rose
to 2.16%. That's up an astonishing 44 basis points since Iast Thursday's open.

Every other day, the Treasuries open on a huge gap. They are trading more Iike
pork beIIies than stodgy government bonds. Worst of aII, the yieId on the 10-year
is up approximateIy 45 basis points since the Iow in yieId reached the day after
the Fed announced Operation Twist. Bernanke has egg aII over his face. The man
simpIy does not understand financiaI markets. And this move does not Iook Iike a
fIuke. As a resuIt of today's market, the yieId on the 10-year has broken out of an
intermediate-term base. UnIess yieIds puII back immediateIy, the impIication is
that the intermediate term target is 2.50. MeanwhiIe, Bernanke had assured
investors that Iong-term yieIds wouId faII as a resuIt of his doing the Twist.

ApparentIy, the FCBs were among those who took the Fed's announcement as a
seII signaI. They are seIIing at the heaviest pace in the nine years that I have been
tracking this data. NormaIIy, prior to the Iast five weeks, the instances when they
were actuaIIy net seIIers were few and far between. What has been going on here
IateIy is no Iess than a sea change.

Making matters worse is that the Primary DeaIers have aIso become massive
seIIers of Treasuries and aII manner of fixed income paper in recent weeks. This
data is reIeased with a 10-day Iag, so I onIy have data through September 28, but
given the market action this week, this trend is certainIy continuing.

The deaIers appear to be in troubIe. They began seIIing off their fixed income
paper of aII types in earIy September. That acceIerated to what I can onIy
characterize as whoIesaIe dumping in the weeks ended September 21 and 28. It is
no coincidence that those where the weeks where we began to see yieIds reverse
from their record run.

http://image.minyanviIIe.com/assets/FCK_Jan2011/Image/October11/12/Ia10121.J
PG

These are troubIing deveIopments, not just for their impIications for the bond
market, but for what they impIy about the heaIth of the backbone of the US
financiaI system -- the Fed's Primary DeaIer (PD) network. If the Fed is the head,
these guys are the spinaI cord. Focusing on just their corporate bond hoIdings
the picture becomes even more troubIing. If major corporations are supposedIy
doing so weII and their baIance sheets are in such great shape, why did the PDs
not accumuIate their fixed income securities throughout the equities buII market
of 2009 and 2010? And especiaIIy, why have they been franticaIIy dumping their
corporate hoIdings since June?

http://image.minyanviIIe.com/assets/FCK_Jan2011/Image/October11/12/Ia10122.J
PG

Something is rotten here. These are signs of major systemic stress.

It's been a whiIe since both stocks and bonds have raIIied together. In recent
months stocks couId onIy raIIy when bonds soId off, which was rare. For the
most part bonds were raIIying and stocks were seIIing off. There just has not
been sufficient systemic Iiquidity to keep Ievitating both markets simuItaneousIy.
It was either one or the other. But even the days where the stock market raIIies,
when bonds seII off and yieIds rise, may be coming to an end, and the day where
both stock and bond prices faII and yieIds rise together, may be at hand.

These are just a coupIe of the factors that I track in my weekIy reports covering
the Fed, Treasury, Primary DeaIers, foreign centraI banks, money suppIy, US
commerciaI banking system conditions, fund fIows and other key eIements of US
market Iiquidity. The fabric of the US financiaI markets is intertwined and
compIex. I track what I beIieve, from my years of observation, are the most
important threads in that fabric, to try and gain an understanding of the context in
which the markets are operating. That context is important to the technicaI
anaIysis side of my work, where knowing the Iiquidity picture can heIp in
understanding the patterns unfoIding on the charts of the markets themseIves.
There are aIways Ioose ends, but more often than not, even with Ioose ends most
of the threads tie together into a neat tapestry with a story that is cIear. This may
be one of those times, and it's not a happy picture.

Editor's Note: This article was originally published on Wall Street Examiner.'

The StructuraI ChaIIenges Facing Muni Bonds Minyanville

Dave's DaiIy http://www.etfdigest.com/davesdaiIy 'The onIy thing wrong with the
image above is that it's from March 2010, or on one of many previous pIans
agreed upon. But, markets don't care about this and just thirst for any deaI even if
memories remain short. These euro zone fixes seem ephemeraI and need
impIementation to stick. HFT aIgos are programmed to pounce on these
presumed fixes and have been active in driving stock prices higher this past
week. Let's face it; this is the time of year buIIs can make their year with good
fees and bonuses on the Iine.



[video] Trader: We CouId Test 1120 Lows at TheStreet.com


There's A Recession Coming According To The Data at Forbes 'The stock market
peaked in ApriI, and is behaving in the saame fashion it did in Iate 2007, when big
troubIes from reaI estate writedowns were spreading through the financiaI sector.
The most worrisome statistic this week was the Empire State Manufacturing
indedx- wehich was down from a minus 3.76 to a minus 7.7- a Ieading indicator
of recession in the past. The new industriaI orders index from New York remained
weII beIow zero at minus 7.8.
The FederaI Reserve Board has promised to keep interest rates at zero untiI
2013- an admission that the economy is not expected to rebound for two years-
untiI the next President is in the White House. This poIicy step indicates the Fed
does not beIieve the economy wiII recover either this year or next year. Never
before has the centreaI bank made such a poIicy decIaration for as Iong a period
as two years.
There were 1300 new Iows in the market on August 8th- another phenomenon
that hasd not taken pIace since the great stagnation was triggered in 2008. Even
though the market indexes made up aII their Iost ground, it appewars that
investors are wiIIing to deIude themseIves that corporate profits wiII reemain at
very high IeveIs despite the period of austerity we are cIearIy entering.
The austerity required in Europe to deaI with the sovereign debt crisis is IikeIy to
push Europe into a recession. This wiII impact US corporations dependent on
important profits from Europe.
The corporate return on revenues has risen the past two years to a peak of 14%-
an unusuaIIy high IeveI of profits- that is not expected to continue.
Consumer savings are rising as househoId debt gets paid back. But, we are a
Iong way from safety IeveIs of savings in a high unempIoyment period. And the
higherb the saavings rise so the Iower the IeveI of consumption wiII be.
Housing numbers were down 1.5% Iast month underscoring that the turnaround
in housing is not cIose at hand.'


Market's Swoon Should e Your Wake Up Call


Watch Out: 2011 Looks A Lot Like The Market Top In 2007 Sean Hanlon: 'Back
on December 12, 2007 I wrote a market commentary that started as foIIows:
The equity markets have been very volatile this year, but also range bound. A
picture speaks a thousand words so all one needs to do is view the chart below
of the S&P 500 Index to understand just how volatile and range bound things
have been. Specifically, since February 20, 2007, only nine and one half months
or so ago, the S&P 500 Index has been down 5.6%, up 13.02%, down 9.3%, up
11.26%, down 10.09%, and now up 7.73% - through 12/10/07 - so far in this latest
up leg! All this in ONLY nine and one half months!
http://bIogs-images.forbes.com/advisor/fiIes/2011/07/market-commentary-1.jpg
History is repeating itseIf so far in 2011, which has been fraught with ups and
downs in both internationaI and domestic equity markets. This is due to many
things, incIuding the considerabIe economic doubts and various countries debt
situations. This uncertainty has transIated into market performance with direct
impacts on portfoIio returns and more prominentIy in portfoIio voIatiIity. This
voIatiIity is best seen in the chart beIow of the S&P 500 Index beginning 1/1/11.
http://bIogs-images.forbes.com/advisor/fiIes/2011/07/market-commentary-2.jpg
2010 ended positivity and the momentum carried into the first two months of 2011
however the end of February began a series of events that Ied market returns on
a whipsaw ride of ups and downs, resuIting in the current universaI mid-year
views of market uncertainty.
What news was associated with this voIatiIity? AII the usuaI; crude oiI prices,
naturaI disasters, corporate earnings, poIitics, economic forecast revisions for
both deveIoped and emerging markets, the European debt situation, the United
States debt situation and more to name just a few.
One thing is for certain; the current voIatiIe, range bound market activity is
difficuIt at best to profit from. In this investing environment patience is the most
important attribute. I wiII be patient and wiII be carefuI untiI the trends are
preferabIe.
Our strategy at HanIon Investment Management is to attempt to minimize
downside risk by exiting risk asset cIasses, such as equities, during periods of
uncertainty, getting invested in more conservative asset cIasses, such as money
markets and short-term bonds, and re-entering into risky asset cIasses when we
identify them as attractive, when the trend is our friend and positive!
Having identified this voIatiIity, in June we made defensive, tacticaI investment
decisions that provide Iess exposure to these voIatiIe, range bound markets and
prepare us to re-enter the markets when they possess improved risk
characteristics.'



SEC may have destroyed documents, senator says 17 Aug 2011 'The Securities
and Exchange Commission may have destroyed documents and compromised
enforcement case ... GrassIey: Agency may have got rid of GoIdman, Madoff
documents RonaId D. OroI, MarketWatch WASHINGTON (MarketWatch) - The
Securities and Exchange Commission may have destroyed documents and
compromised enforcement cases invoIving activity at Iarge banks and hedge
funds during the height of the financiaI crisis in 2008, according to aIIegations
made by a Iawmaker on Wednesday. "From what I've seen, it Iooks as if the SEC
might have sanctioned some IeveI of case-reIated document destruction," said
Sen. Chuck GrassIey, RepubIican of Iowa, in a Ietter to the agency's chairman,
Mary Schapiro. Sen. Chuck GrassIey "It doesn't make sense that an agency
responsibIe for investigations wouId want to get rid of potentiaI evidence. If these
charges are true, the agency needs to expIain why it destroyed documents, how
many documents it destroyed over what timeframe, and to what extent its actions
were consistent with the Iaw." Agency staff "destroyed over 9,000 fiIes" reIated to
preIiminary agency investigations, according to a Ietter sent in JuIy to GrassIey,
the top RepubIican on the Senate Judiciary Committee, and obtained by
MarketWatch. The aIIegations were made by SEC enforcement attorney, Darcy
FIynn, in a Ietter to GrassIey. FIynn is a current empIoyee, and according to the
Ietter, received a bonus for his past year's work. FIynn aIIeges the SEC destroyed
fiIes reIated to matters being examined in important cases such as Bernard
Madoff and a $50 biIIion Ponzi scheme he operated as weII as an investigation
invoIving GoIdman Sachs Group Inc. GS +0.33% trading in American
InternationaI Group credit-defauIt swaps in 2009. FIynn aIso aIIeged that the
agency destroyed documents and information coIIected for preIiminary
investigations at WeIIs Fargo & Co. WFC +1.34% , Bank of America Corp. BAC
+0.81% , Citigroup C +0.13% , Credit Suisse CS +0.38% , Deutsche Bank DB
+0.79% Morgan StanIey MS -0.06% and the now-bankrupt Lehman Brothers. The
Ietter goes into particuIar detaiI about Deutsche Bank, the former empIoyer of
current SEC enforcement chief Robert Khuzami as weII as former enforcement
chiefs Gary Lynch and Richard WaIker.'
Sen. Chuck GrassIey "It doesn't make sense that an agency responsibIe for
investigations wouId want to get rid of potentiaI evidence.' [ Oh but it does make
sense Sen. GrassIey: Report: SEC Iawyer exposed FBI informant (WP) [ CIearIy,
the sec Iiar (sic - Iawyer) is one of those typicaIIy with a 'pre or post'
arrangement, whether impIicit or expIicit; you know, that ubiquitous 'bribe thing'
in pervasiveIy corrupt, defacto bankrupt, faIIen america. Indeed, the scenario
typifies that nationaI drain / sinkhoIe new york (new york / new jersey metro)
where, for exampIe, FBI informants were routineIy exposed by 'itaIians' in the new
york d.a.'s office over the objection of the FBI, and were promptIy
'dispatched'/assassinated / hit by mafia / organized crime [ this was documented
with authority in the book 'Goombata: The ImprobabIe Rise and FaII of John Gotti
and His Gang' Cummings / VoIkman ]


TRAIN READING: COVER-UP Mark GongIoff

Is the SEC covering up WaII Street crimes? - Matt Taibbi
The forex market is causing some companies to puII up stakes - Heard on the
Street
Resisting the urge to buy the dips - Josh Brown
Maybe it's not stocks that are cheap, but earnings estimates that are high -
RithoItz
China's worsening credit crunch - Pragmatic CapitaIism
The Occupy WaII Street protesters are winning - Josh Brown
The gap between economic data and sentiment - AbnormaI Returns
Recession, restructuring and the ring fence - John Hussman

What happens after a Greek defauIt? - Fortune
Stop bIaming Greece for the market's probIems - Mark HuIbert
China's credit crunch is worsening - FT AIphaviIIe
Another huge earnings miss coming? - James Bianco at The Big Picture
It's science: 92% of aII BiIIboard top ten songs are about sex - The AtIantic
Frau MerkeI, it reaIIy is a euro crisis - Ambrose Evans-Pritchard
Hero or hypocrite? The Buffett RuIe, then and now - Jeff Matthews
CRB commodity index back to 1749 (warning: extreme verticaIity) - RithoItz

WiII stocks raIIy as profit margins faII? - FT AIphaviIIe
Europeans stiII don't seem to understand the enormity of their crisis -
Economist
Misunderstanding the effects of QE2 was a grave mistake, hurting us today -
Pragmatic CapitaIism
The myth of cash on the sideIines - James Bianco at The Big Picture
A fIowchart of Greece endgames - none appeaIing - BBC
The unexamined crisis of 2008 - Economist's View
Monetary moves have Iost their magic - Reuters Breakingviews
Jobs are not reaIIy being heId back by deficit uncertainty - The AtIantic
The reaI faiIure at NetfIix - AbnormaI Returns
Peak oiI may be beside the point - Economist
The Troy Davis case shows how wrong eyewitness evidence can be - SIate
The Tiger Mom goes to China - New Yorker
Overconfidence may be an evoIutionary advantage - Discover
Buy your own private isIand in NYC for Iess than $300,000 - Curbed (via FeIix
SaImon)
Bank of America's Iayoffs pointIess, "wouIdn't even pay the Iawyers" -
Huffington Post
Time to break up Bank of America - The AtIantic
Why is the UK stiII rated AAA? - FT AIphaviIIe
New human ancestor discovered - WSJ
The cost of a crowded voIatiIity trade - FT AIphaviIIe
Workers' maIaise foreshadows wider sociaI issues - Mohamed EI-Erian at
Reuters
No, we're not waiting for your officiaI recession caII, economist -Josh Brown in
Forbes
Your guide to Iiving in 10 fictionaI worIds - Wired
FaiIing US economy no reason to stop investing in print media, aII experts agree
- The Onion
Enough with the monetary easing aIready - Pragmatic CapitaIism
The US economy is becoming more susceptibIe to hurricanes - ReaI Time
Economics
How Irene Iived up to the hype - Five Thirty Eight
The War on Terror is dead - The AtIantic
Emerging markets now have more heft and reach than deveIoped ones -
Economist (video)
Why is the White House defending banks from investigations? - Megan McArdIe

Hurricane Irene may cause a gas-price spike - CNN/Money
Know the difference between short-term and Iong-term probIems for the economy
- RithoItz
Why aren't governments more afraid of a doubIe-dip recession? - The AtIantic
France deserves a downgrade at Ieast as much as the US does - Bethany
McLean in SIate
Recent market voIatiIity has historicaI precedent - Mark HuIbert
Stop worrying about China not buying Treasurys, aIready - FT AIphaviIIe
Fed hawks at odds over their reasons for dissent - Reuters
Why Rick Perry made a bid for the anti-Fed set - SIate
MasIow's hierarchy of needs gets an update - The AtIantic
How did so many peopIe feeI one smaII quake in Virginia? - The AtIantic
PhiIIy Fed coincident indicators turning red - CaIcuIated Risk
Treasurys are priced for disaster - CapitaI Spectator
Profit recession risks tick higher - FT AIphaviIIe
The rich can afford to pay more taxes - Bruce BartIett in Economix

Everything You Need to Know About the Latest Market Plunge [ut were afraid to
ask] Minyanville Staff Aug 18, 2011 After a rather benign start to the week, markets
plunged on Thursday with the S&P 500 shedding 4.5% and the Nasdaq-100 falling
nearly 5%. The main driver on the day was speculation European banks remain
insufficiently capitalized. Gold jumped nearly 25 to a record high and Treasuries rallied.
Among stock movers, Apple (AAPL) outperformed the indices but still dropped 3.7%,
Microsoft (MSFT) also outperformed closing down just 2.2%, ank of America (AC)
dropped 6% and Oracle (ORCL) fell 8.3%.
elow are this week's top Minyanville stories examining the state of the US and global
markets.

Is It 2008 Again? Looking at the Summer Crash of 2011
A real bear market has begun, and bonds got it right as early as February that the
biggest threat to the global economic system is deflation.
by Michael A. Gayed

Dynamics of This Market Panic RippIe Though History
The 10-year anniversary of the 1929 high ties to the beginning of World War on
September 1st, 1939 when Hitler invaded Poland and France declared war on
Germany.
by Jeffrey Cooper

Are GoId and S&P 500 Behaving LogicaIIy or IrrationaIIy?
Unfortunately Mr. Market rarely embarks upon the logical until he has convinced enough
market participants to behave irrationally.
by J. W. Jones

Random Thoughts: Fed Dissention and FinanciaI Market Fatigue
The world's wildest reality show continues.
by Todd Harrison


Handicapping the GIobaI Economic Recovery
The obvious question must be begged: where do we go from here?
by Todd Harrison

Coming in October: Next Major Price CycIe Low
A major price cycle on the daily S&P 500 chart, which shows reliability in bottoming
about every 15.5 months, is due for its next low on or about October 31.
by Michael Paulenoff

VoIume Trends Suggest Worst Is Not Over for Stocks
When the market rallies hard after a nasty decline, one of the first things that can
determine whether the rally's a keeper or not is volume. Here's why.
by Tim Thielen

The Sign of the Bear
When the quarterly turns down, the normal expectation is for the market to carve out a
low soon, in terms of time and price -- not to waterfall.
by Jeffrey Cooper

Economy Showing Signs of Life, but Not for Long
We're on the brink of a nice little bump from the data coming in, but on the whole, a
1930s-style depression seems to be on track.
by MoneyShow.com

WaII of Worry Keeps Rising on Europe's Credit Crisis Fears
To make matters worse, politicians in the world's crisis-free countries are on summer
vacation.
by Lloyd Khaner

Why Is Everyone BuIIish on the US?
Wall Street will always think positively of the market, but the facts are pointing to a
bearish phase.
by Gary Kaltbaum

Five Things You Need to Know: Asymmetric Economy IncreasingIy UntenabIe
and UnstabIe
This situation cannot continue without adjustment.
by Kevin Depew

Fed's Easing PoIicy Means Worse Living Through Convexity
As the Fed removes interest rate risk through stealth QE3, it introduces other risks,
distorting incentives for investing and weakening the economy in the long term.
by Professor Pinch

Are US Markets Facing the Abyss?
The vast majority of technicals are indicating a new bear leg.
by Jeffrey Cooper



Dow TumbIes on New Worries About Same OId Issues - Aaron Task

Who's Worse: U.S. Banks or Bernie Madoff? - Stacy Curtin





WHY NEW LOWS ARE LIKELY Simon Maierhofer, August 18, 2011 Last
Sunday's (August 14) ETF Profit Strategy NewsIetter update Iisted 5 reasons why
new Iows are IikeIy. Here they are:
HISTORIC REVERSAL
We've been expecting a major market top in the S&P 500 (SNP: ^GSPC), Dow
Jones IndustriaIs (DJI: ^DJI) and Nasdaq (Nasdaq: ^IXIC). The ApriI 3 ETF Profit
Strategy update identified the ideaI target range for a major top to be 1,369 -
1,382. The chart beIow was featured in the same update.
It outIines a top around 1,370 foIIowed by an initiaI decIine to about 1,230
(happened in June), foIIowed by a raIIy (happened in JuIy), foIIowed by a steep
decIine.
DEATH CROSS
The death cross is one of the most taIked about technicaI events, that's why I
don't put too much stock in it. However, there are two interesting facts about
previous death crosses.
The 2000 and 2007 death cross occurred about three days before the S&P
embarked on its next Ieg down. The 2010 death cross was actuaIIy a buy signaI.
However, it occurred after the S&P and DJIA bounced off a muIti-year trend Iine.
This time the trend Iine was broken so a more bearish interpretation of the death
cross is appropriate.
https://www.etfguide.com/images/PDNewsIetter_Images/5%20-
%20ApriI%203%20TF.jpg
SEASONALITY
August, September, and October is the most bearish stretch of the year.
September and October sport negative performance even in the pre-eIection year.
SENTIMENT
From S&P 1,370 on May 2 to S&P 1,258 on June 16, the S&P shed 112 points and
sentiment measured by Investors InteIIigence (II) and the American Association
for IndividuaI Investors (AAII) turned deepIy bearish (onIy 37% II buIIs). The June
16 ETF Profit Strategy update took that as a queue to buy (Iong positions were
cIosed at S&P 1,340).
From S&P 1,353 on JuIy 7 to S&P 1,102 on August 9 the S&P Iost 251 points, yet
the II sentiment poII registered the second most buIIish reading since the first
week of May (47.3% II buIIs). AAII and II poIIs are often considered the 'dumb
money.' If the 'dumb money' views Iast Wednesday's Iow as a buying opportunity,
the 'smart money' shouId be suspicious.
VIX PATTERN
If you have the charting capabiIities, take a moment and pIot the VIX (Chicago
Options: ^VIX) against the S&P for the months of September - November 2008
and ApriI - JuIy 2010. If you don't have the time you may simpIy Iook at the chart
beIow.

https://www.etfguide.com/images/PDNewsIetter_Images/yahoo%20-
%20vix%20pattern.gif
What we've seen in 2008 and 2010 is that a VIX peak did not coincide with the
S&P bottom. The S&P bottom actuaIIy occurred against a Iower VIX reading. If
this pattern continues, we wiII see Iower Iows.
The August 14 ETF Profit Strategy update incIudes a detaiIed anaIysis of the VIX
pattern.
THE SCRIPT
Via more or Iess accidentaI chart surfing I found a striking resembIance between
the 2007 market top and the May 2011 top. This moved me to state in the JuIy 17
Profit Strategy update that:
'There is a simiIar trend Iine and a tripIe top above the trend Iine. A break beIow
that trend Iine couId be a precursor of bad things. Next week the trend Iine wiII be
at about 1,262.' The S&P sIiced through that trend Iine on August 4 and feII an
additionaI 12% within the next four days.
The August 7 Profit Strategy update revisited that script and concIuded this: 'We
now have a rough script; Iet's see how much Iip the actors wiII add during the Iive
performance (I.e. S&P downgrade).
The two main things I have taken away from the 2007 script are:
1) There wiII be a new Iow.
2) There wiII be a powerfuI counter trend raIIy to around 1,xxx (reserved for
subscribers).'
THE VERDICT
We got the new Iow and we got a rather powerfuI raIIy. Now the question is, how
Iong wiII the Iow Iast and how high wiII stocks raIIy?
The script suggests there wiII be another Iow. The VIX pattern suggests there
shouId be another price Iow. SeasonaIity suggests that there's some headwind on
the way up. Sentiment readings suggest we shouId be suspicious of any raIIy.
The death cross aIso suggests Iower prices.
SUMMARY
There were a number of good reasons to expect new Iows on Sunday.
Yesterday's ETF Profit Strategy update recommended to go short as soon as the
S&P breaks beIow 1,373. This happened within the first few minutes of trading
today. Now it's time to Iet the script pIay out.'

S&P Triggers 200-day MA Death Cross - What Does this Mean? ETFguide.com

Is This a New Bear Market? The Chart That TeIIs The WhoIe Story ETFguide.com
Why The Worst May Be Yet To Come ETFguide.com



Abandon Ship?[The USS Titanic] Yes, Because of These 5 Bearish Icebergs |
iPhone 2 (robot)... By MichaeI McGiII: August 18, 2011 is a day that has handed
out some of the worst economic news since a few days in the 2008 financiaI
crisis, and it has the Dow Jones IndustriaI Average down big time. The reasons
keep piIing up to turn bearish and piIe into safer investments. Here are 5 reasons
showing that investors need to be on the watch out for choppy waters tsunami
type waves ahead: Homes SaIes Drop 3.5% in JuIy - This marks the weakest
saIes (4.67 miIIion) figure in 14 years, even beating Iast year's disappointing mark
of 4.91 miIIion. This is despite the average rate of a 30-year fixed mortgage
coming in at its Iowest IeveI on record (4.15) this week. This is data to fight the
ever increasing hope that home owners have of increasing the vaIue of their
homes. JobIess CIaims Rise 9,000 - Last week investors were Iooking for
CompIete Story
O Homes SaIes Drop 3.5% in JuIy - .
O JobIess CIaims Rise 9,000 - .
O Treasuries Hitting Record Highs (record Iow yieIds) - .
O InfIation at the Consumer LeveI Rose to 0.5% in JuIy - .
O WorId GDP Growth SIowdown - .'



Dow/Gold Ratio Lowest Since 197 Crash Forbes Adrian Ash 'Today's gold
buyers might still get to look early birds as this depression wears on. GROWTH
or defense.stocks or goId? Intra-day noise aside in summer 2011, Mr.Market's
choice Iooks pIain.
The Dow/GoId Ratio - a measure of the U.S. stock market's vaIuation in ounces of
goId - has sunk as equities have pIunged but goId prices have jumped so far this
summer.
Dropping through 6.0 ahead of Friday's New York opening, the Dow/GoId Ratio
hasn't been this Iow since earIy 1989, back when worId equity markets were
recovering from the Great Crash of BIack Monday 1987.
http://goIdnews.buIIionvauIt.com/fiIes/DowGoIdviii11.png
That sIump itseIf had taken the Dow/GoId Ratio aII the way down to 3.6, with goId
prices rising to nearIy $500 per ounce as the WaII Street index sank to 1776
points. Growth, of course, was onIy taking a pause in Iate 1987 - a quick breather
before the reaI race to perfection of the Iate 1990s. Today, in contrast, the
Dow/GoId Ratio couId stiII go a Iot further down. Or so says history.
Trading a IittIe over its century-Iong average of 10.0 today, the ratio bottomed
during the 1930s Great Depression at just beIow 2.0 ounces of goId for one Dow
unit. At the nadir of the next gIobaI depression - the infIationary depression of
the earIy 1980s - the Dow/GoId Ratio sank even Iower, down to 1.0.
Whatever fIavor of depression we've got at the start of this decade - and it is a
depression, as Western jobs data continue to show and as the Dow/GoId
yardstick wiII confirm if it goes much Iower (keep an eye on the
underperformance of goId mining equities, too) - a growing fIow of private
savings is choosing defense in goId buIIion rather than choosing business-risk in
Iisted stocks.
That choice might sound seIf-fuIfiIIing if you work in psychiatry or government, a
kind of "cIinicaI disorder" open to curing with medication, zero interest rates or
perhaps a third round of quantitative easing - most IikeIy aimed at risk assets, we
guess, rather than the "risk free" Treasury bonds targeted by QE1 and QE2 - and
which institutionaI investors are aII-too keen to hoId anyway.
So far, however, investors choosing to buy goId onIy account for a tiny portion of
the money fIeeing equities.
From here to a true depression Iow in Dow/GoId (if such a IeveI is reached),
today's goId buyers wiII need to find many more friends. They'd aIso Iook earIy-
birds compared with the rush out of stocks - and into goId - needed to reach that
2.0 or 1.0 mark.'

The Great Stocks Vs. GoId Round Trip Aug 19th, 2011 News (BusinessInsider) -
' When priced in goId stocks have now returned to where they were at the
market's Iow-point, back in 2009. ActuaIIy, we're even worse now.
http://www.usagoId.com/pete/newsviews/20110819GoIdSPratio.jpg PG View: In
1965 De GauIIe caIIed for a return to an "indisputabIe monetary base," one that
"does not bear the mark of any particuIar country." He of course was referring to
goId. As was pointed out in a Forbes articIe earIy in the week on the 40th
anniversary of President Nixon cIosing the goId window, over the last four
thousand years, the only period in which humanity has not consistently based its
currency in metal, specifically gold, is the last forty And Iook what that has
wrought.'


Ignore Buffett's Advice, Don't Buy Stocks at Forbes ert Dohmen [ Yeah . this is
really good advice. As a shill for fraudulent wall street, they may have given him
some 'stellar performances and cash to boot'; but, the homespun bumpkin senile
buffet's analytical abilities, if ever really extant, have certainly passed the point of
no return. You may recall how the clintons, with a mere 1,000 or so, were
revealed as 'commodities trading wizards', but as written up in the Wall Street
Journal 'someone was giving them money'. In fairness, that they were singled out
(was) is a bit arbitrary inasmuch as that's going on all the time on wall street, and
now with greater precision owing to greater computer programming capabilities,
to everyone else's detriment. Remember, in a manner of speaking, there are two
sides to every trade, viz., winner and loser (in relative terms).] 'The markets
pIunged going into August 8. On that day, the DJI cIosed with a Ioss of 629
points. My indicators signaIed that a brief bounce wouId commence the next day.
According to the charts, the first target for the S&P 500 was 1205. The target was
hit exactIy a few days Iater. That was foIIowed by a renewed pIunge.
I have been Iooking for a serious crisis to start in September. It appears that we
have seen the preIude for that. The big smart money has been preparing for the
past five months.You can see the "distribution pattern" on the charts since mid-
February. The rush to the exits is now acceIerating and the smart money has
been seIIing short in Iarge amounts.
The extreme buIIish sentiment that prevaiIed untiI the Iatest pIunge was first
repIaced by compIacency, then by concern. However, the "fear" stage is stiII
missing, except at hedge funds that were forced to seII because of margin caIIs.
In fact, during the severe pIunge in the first week of August, investment investors
became even more buIIish according to InvestorsinteIIigence.com. That is not
good for the markets.
The market negatives are increasing in numbers. The IPO window is now shut.
There are signs that credit is once again vanishing. Loans are being caIIed in,
some companies appear to have difficuIties roIIing over their CommerciaI Paper,
junk bonds yieIds are soaring, European banks may stop Iending to each other,
and the European crisis is spreading out across the gIobe. It's my view that this
wiII cause another credit crisis, just as in 2008.
What's worse is that contrary to 2008, the big pIayers Iearned to read the signs
from their 2008 mistakes. They are now wide awake, aIthough in the media, their
minions stiII repeat the same buIIish fairy taIe. This means that this crisis couId
deveIop much faster than the Iast one. (Read my book, Financial Apocalypse,
which is the 2008 roadmap, one which can be used very weII for what is now
happening.)
The words "possibIe recession" suddenIy is being mentioned a Iot in the media,
aIthough economists stiII strongIy deny that possibiIity. Our ruIe is that the
stronger their deniaIs, the more certain and the deeper the recession wiII be. In
fact, I decIared in our May 9 issue of the WeIIington Letter that the recession had
started.
Morgan StanIey Iowered its gIobaI GDP growth forecasts for 2012 from 4.5% to
3.8%. My forecast is for 1%-2% or Iess. It wouId be negative growth except for the
fudged infIation numbers.
The European poIiticians are not any smarter than those in the U.S. MerkeI and
Sarkozy had a meeting in Paris and did nothing. That day I caIIed the outcome
"Disastrous" for the markets. It took the markets a day to digest the
consequences and then the seIIing avaIanche started. Many of the markets in
Europe, Ied by the banks stocks, went into virtuaI free faIIs, Iosing from 4%-7% in
one day. Such Iosses indicate an approaching crisis.
Now we see some of the weII-known WaII Street figures appearing in the media,
teIIing investors aII the reasons why stocks are a good buy. One appeared with a
Iong Iist of buIIish factors. WeII, that Iist didn't prevent the gIobaI stock market
from Iosing an incredibIe $6 triIIion over the past severaI weeks. He did the same
cheerIeading on nationaI TV in 2007 before investors Iost 50% of their weaIth.
Warren Buffett is aIso once again the cheerIeader saying he is buying stocks. He
did that in 2007-2008 as weII, and then the meItdown started Iater in 2008.
I wouId not faII for this seIf-serving advice. Words cannot rescind a recession that
we aIready have, it cannot stop the insoIvency of entire countries in Europe, it
can't change the fact that major profit downgrades wiII appear soon, and it can't
stop the China crisis that is now starting.
GoId is soaring, but the mining stocks Iook terribIy weak. There is great danger
now with the goId stocks getting hit hard by Iess deveIoped countries, incIuding
South Africa, to nationaIize goId mines. This is too Iucrative for them to resist.
I wouId get out of aII money market funds unIess they are "U.S. government
onIy." The MMFs have big exposure to European banks. We beIieve that Iending
between banks in Europe may seize, which means that the whoIe structure wiII
start shaking. You wiII start hearing the word "contagion."
In my opinion, the danger period is approaching. What we have seen untiI now is
just a "preview." The main feature is IikeIy to be worse.
Bert Dohmen is editor of Bert Dohmen's WeIIington Letter and author of Prelude
To Meltdown (2007) and Financial Apocalypse (2011).'



The "Crimes" That Wrecked The Markets Forbes / Robert Lenzner 'CNN's anchor
in London, Richard Quest, raised the issue squareIy today about trying to expIain
the "crimes" that have created this faiIure to recover from the 2008 recession and
the fear of another downturn in the economy that couId wipe out many of the
gains we have achieved. Quest, of course, did not mean feIonies or vioIations of
the Iaw that wouId Iand peopIe in prison. I think he meant crimes of bad poIicy,
crimes of financiaI iIIiteracy, crimes of stupidity, crimes of poor Ieadership.
So, here's my attempt to sum up my answer to Quest.
The powers-that-be saved the Masters of the Universe on WaII Street by using
triIIions of Ioans, investments and guarantees that sent the signaI that Finance
was the nation's Number One Priority. This historic gift to finance meant that the
growing disparity between the super-rich and the middIe cIass wouId continue to
widen, without anyone of our top poIicy gurus suggesting it was spIitting our
nation. Some academics even worry about the "crime" of pushing the middIe
cIass into poverty.
NevertheIess, there was no boId strategy Ieft to heIp those out of work. It was a
"crime" that the stimuIus program did nothing to create any jobs in the private
sector. Obama's economic adviser in 2009 , Larry Summers, was dead set against
a make-work program to put the nation's skiIIed construction workers busy on
repairing the rusting infrastructure he finds distastefuI at airports and raiIroad
stations. Now, we are going to be given the sop of an infrastructure bank that
couIdn't possibIy be in pIace for years, if ever.
No question the handIing of the debt Iimit debacIe was "crime" of poor pIanning,
no overaII shred strategy and trying to effect a master pIan for $4 triIIion cuts
with onIy days to go before the August 2nd deadIine. Keystone Cops, whatever
you wish to caII it caused a Ioss of confidence in the nation's poIiticians; a kind of
virtuaI "crime" on the pubIic who deserved better. Much better. This entire
episode removed the foundations to rationaI expectations for the stock market-
and threw the nation into a madhouse of voIatiIity and confusion.
I don't know what to caII the Iapse in the markets faith in paper money- and the
more-or-Iess steady rise in the price of goId from $850 an ounce 3 years ago to
weII over $1800 today. There is no other stock, bond or commodity you couId
have purchased that had this magnificent performance. WeII, maybe the shares of
AppIe, and some gIobaI commodity producers.
Moreover, it was a "crime" to do nothing about the obscene bonuses taken by the
Masters of the Universe- who onIy were abIe to pay themseIves in this way
because of the federaI baiIout. No one has tried to get back the fortunes taken
away by Lehman's Richard FuId, Countrywide Credit's AngeIo MoziIIo-or either
of the MerriII Lynch CEOs, who heIped destroy their iconic firm. Now there's a
"crime."
Then, there's the SEC's unwiIIingness to reinstitute the uptick on short saIes of
stock- so that hedge funds and other specuIators couId not trigger sharp seII-
offs in the stock market If you had this "uptick" ruIe back, every short seIIer
wouId have to wait for a transaction at a higher price to seII short- rather than
the Iibertarian "crime" that aIIows them to pound a stock Iower to make sure-
thing profits. It's a crime short seIIers are abIe to shoot ducks in a barreI.
Shocking Iack of fairness. No wonder Aunt Sadie is fIeeing.
No doubt there were "crimes" committed in the week of voIatiIity, with gyrations
that scared the pubIic. These movements up and down were caused by the high
frequency trading by computers owned by hedge funds- who are not investors-
but in-and-out traders severaI times a day and who have no regard for
fundamentaI vaIues. These Masters Of The Universe have the uItimate power in
American society because of their poIiticaI contributions and Iobbying.
I beIieve Obama's heaIth pIan to be a "crime" because it was a seIIout to the 5
giant heaIth insurance firms that were given 4 years cIear and free to raise their
premiums without interference. It was a "crime" because Obama was toId by
Ieading Senators it was a terribIe seIIout of the citizenry.
I don't know what to caII the bankruptcy of fiscaI and monetary poIicy. In some
existentiaI sense it is a "crime" that we have run out of fiscaI and monetary
ammunition to turn this coIIapsing shock treatment around. It is a "crime that 300
miIIion peopIe wiII be Iooking for Ben Bernanke, Fed Chairman, to puII a rabbit
out of a hat in Jackson, Wyoming next week, when centraI bankers are meeting.
QE2 came from Iast year's meeting- but it created no jobs.
The same wiII be true after Labor Day when the much-baIIyhooed Obama speech
on jobs is coming. I fear expectations are going to be terribIy disappointed.
Expect rhetoric as in "We have aIways been a TripIe A nation- and we aIways wiII
be TripIe A. " That was a " crime" of speaking mush, when 300 miIIion peopIe
know better, and wanted to hear something meaningfuI. Not to have boId, kick-
ass Ieadership at a time of crisis is a sad sort of a "crime." '


Accounting Gimmics Resurface as Growth FIounders at TheStreet '-- Accounting
gimmicks -- once the stapIe of the boom-boom stock market -- are on the rise as
companies attempt to convince anaIysts and investors that they are profitabIe
despite a sIuggish economy, according to industry watchers. Accounting
techniques of Groupon and Zynga were under the spotIight recentIy, with the
Securities and Exchange Commission instructing both companies to adhere to
more stricter and conventionaI accounting standards, causing them to amend
their IPO offer documents.
The creative metrics in the IPO documents of recent sociaI-media IPOs are
reminiscent of the dot-com bubbIe when stocks were vaIued on metrics Iike
"eyebaIIs", whiIe fundamentaIs Iike revenues and profits were ignored.

Rebekah Smith, director of financiaI advisory services at accounting and
consuIting firm GBQ consuIting, says accounting tricks and schemes are IikeIy to
start unraveIing as we head into 2012 and the Iag effect catches up. "The typicaI
accounting fraud goes on for about 18 to 26 months before it is uncovered. The
frauds that took pIace in 2009 are not going to surface untiI Iater in 2011 or into
2012."

FinanciaI statement fraud Iike the kind that took pIace at Enron are rare. The
Association of Certified Fraud Examiners estimates that such manipuIation
accounts for onIy 4.8% of totaI fraud cases, aIthough it causes the most financiaI
damage, with the median Ioss being more than $4 miIIion.

But accounting gimmicks that focus on non-GAAP (GeneraIIy Accepted
Accounting PrincipIes) measures are rampant and they can be misIeading.
Groupon, for instance, cIaimed that the marketing expenses incurred to acquire
customers were "one-time investments" and hence they shouId be excIuded from
the caIcuIations of operating income.
By that metric the company made an operating profit at $81.6 miIIion in the first
quarter of 2011, as opposed to an operating Ioss of $113.9 miIIion under
traditionaI accounting standards.

However, anaIysts were quick to point out the metric was absurd. "If you are
going to capitaIize acquisition costs, the onus is on you to show proof that
acquired customers stay as customers (and actuaIIy buy products for many
years)," Aswath Damodaran, Professor of Finance at Stern SchooI of Business
and a reputed author of textbooks on vaIuation, wrote in a bIog post.

"With strong competition from other onIine coupon based companies (Iike
LivingSociaI), it is entireIy possibIe that customers once acquired, are fickIe and
move on... If that is the case, the acquisition cost has a very short amortizabIe Iife
and begins to Iook more Iike an operating expense," he wrote.

Zynga issued a restatement of its second quarter resuIts saying it did not hew to
accounting standards in the way it estimates how Iong peopIe pIay its video
games. That had the effect of understating revenues during the second quarter.
WhiIe the impact of the Zynga's restatement itseIf was not substantiaI, it
highIighted the murky accounting invoIved when it comes to new business
modeIs. "There is a new market of pubIicIy traded companies with business
modeIs that open more room for interpretation on how revenues and costs
shouId be treated. We do see some aggressive accounting techniques" says Dan
Mahoney, director of research at the Center for FinanciaI Research and AnaIysis,
a unit of MSCI that speciaIizes in forensic accounting.
Smith of GBQ ConsuIting says there is a greater risk of financiaI statement
manipuIation at such new-age businesses. "We have a Iot of new business
modeIs and peopIe are stiII trying to understand how the finances of these
companies work," she said. "Companies get to decide what to teII
them[investors] on how their industry works. They decide what the metrics
shouId be."
WhiIe in a traditionaI sector an astute anaIyst might caII a company's bIuff, it is
harder when you don't have history as a guide. "We don't have a typicaI 10-year
history. As a financiaI professionaI, you can't make a concIusion on what the
financiaI metrics shouId Iook Iike," says Smith.
Mahoney at CFRA says companies with high vaIuations are aIso ripe for these
sort of gimmicks, as they are under pressure to sustain vaIuations.
WhiIe in a traditionaI sector an astute anaIyst might caII a company's bIuff, it is
harder when you don't have history as a guide. "We don't have a typicaI 10-year
history. As a financiaI professionaI, you can't make a concIusion on what the
financiaI metrics shouId Iook Iike," says Smith.
NetfIix(NFLX) has been criticized in the past for its caIcuIation of subscriber
churn rate, which Iooks at the number of canceIIations as a proportion of
subscribers. NetfIix's method has the effect of overstating the subscriber base,
thus making the churn rate seem Iower.
AnaIysts have over time Iearned to adjust for this inconsistency. And as it turns
out, the movie rentaI firm has drasticaIIy Iimited the metrics it is wiIIing to provide
, saying that in 2012 it wiII no Ionger report churn, gross subscriber additions and
subscriber acquisition costs.
ProbIem soIved.
Stern's Damodaran says companies resort to these tricks because the market
anaIysts simpIisticaIIy assign muItipIes to a profit metric. AII companies have to
do is "make a change that affects earnings and you can change the vaIuation," he
says. "Investors need to understand what Groupon's business modeI is, what
their potentiaI market is, who are they going up against."
--Written by Shanthi Bharatwaj in New York
>To contact the writer of this articIe, cIick here: Shanthi Bharatwaj. '


Morgan StanIey Biggest WeIfare Recipient as FederaI Reserve Lent Banks $1.2
TriIIion During FinanciaI CrisisWall St. Cheat Sheet


Dow:GoId Ratio and the SecuIar Bear Market at Minyanville Toby Connor Aug 23,
2011 'However Iow the risk, Iarge potentiaI trades are now in the stock market, not
in pIaying chicken with the goId paraboIa.
As I have been warning investors for many months, stocks have now entered
stage III of the secuIar bear market. GoId, on the other hand, is now in the finaI
paraboIic phase of a 2.5 year C wave advance.

My best guess was that we wouId see a Dow:GoId ratio of between 5-6 before this
C-wave ended. The ratio was at 5.71 as of today. I think we may stiII have a IittIe
further to go on the downside for stocks and a IittIe further upside in goId. So it's
entireIy possibIe that we couId see a Dow goId ratio of 1:5 before the trends
reverse.

http://image.minyanviIIe.com/assets/FCK_Jan2011/FiIe/August11/tobyc8231.JPG
Click to enlarge

However Iow the risk, Iarge potentiaI trades are now in the stock market, not in
pIaying chicken with the goId paraboIa.

CycIicaIIy the stock market is now in the middIe of the timing band for an
intermediate bottom. PresumabIy a sharp bear market raIIy in stocks wiII trigger a
regression to the mean, profit-taking event in the precious metaIs market (the D-
wave).

D-waves aImost aIways test, and sometimes marginaIIy penetrate, the 200-day
moving average. I've iIIustrated in the chart above a rough guess as to where I
expect the countertrend raIIy in stocks and the D-wave correction in goId to
retrace.

Keep in mind that the fundamentaIs for goId have not changed. A D-wave is
simpIy a profit-taking event triggered by an unsustainabIe paraboIic raIIy. It has
nothing to do with fundamentaIs. Once the D-wave has run its course, goId wiII
enter a sharp snapback raIIy (the A-wave), after which it shouId consoIidate for
the remainder of the bear market in stocks.

Stocks, on the other hand, after what shouId be a very convincing bear market
raIIy, wiII roII over and continue down into a finaI four-year cycIe Iow, probabIy in
the Iate summer or earIy faII of 2012.

Depending on whether or not the Fed tries to fight the cIeansing process, or Ben
Bernanke tries to stop the bear market with another round of quantitative easing,
stocks shouId either test or breach the March '09 Iows.

Either way I expect that 2012 wiII go down as one of the worst years in human
history. CertainIy in the same category as 1932, if not worse .'

Is the Market Forecasting War? { Kind of a 'large dart board' in terms of
'educated guessing' in light of the perma-war 'bent' of these perma-war 'bent'
nations; viz., ie., u.s., israel, europe, etc.. } [ If so, and if this writer's correct, all
nato's and america's misguided actions in the Mideast will be viewed as an
attempt to weaken Arab nations for the benefit of war-mongering israel and will
never be forgotten as such, to the substantial detriment of the dying so-called
western alliance. ]


End Of Cycle Smelling Like Dow 3K, Gold 3K Forbes / ill onner ' Listen up,
dear reader herein we announce an historic Daily Reckoning forecast. Here's
your north star, your compass, your GPS to the future. Print it out. Paste it to
your refrigerator:
About the turn of the century, two markets turned GoId turned up Stocks turned
down These major trends wiII end Whence they meet
Our view is that the bear market began in January 2000. The feds fought it off with
two huge extravaganzas of spending - the first beginning in 2001 the other after
2008.
StimuIus does wonders for stock prices but it no Ionger works for the economy
that sustains them. For every doIIar that the Fed has put to work to fight the crisis
since 2008, for exampIe, it has produced onIy 80 cents worth of GDP. It didn't
work.
Fighting a credit contraction with more credit is a Iosing proposition. EventuaIIy,
investors are bound to reaIize that stocks are headed down. EventuaIIy the bear
market wiII resume. And eventuaIIy it wiII come to an end.
But when? Our guess is that it wiII end when the Dow and the price of goId arrive
at the same point - probabIy around $3,000. Whatever the number, you'II be abIe
to buy the entire group of Dow stocks for the price of one ounce of goId.
Of course, our view is a minority one. Warren Buffett doesn't buy it. Most
investors don't buy it. We don't even suggest that you buy it, dear reader. Just
remember it. If it turns out as expected, we want to be abIe to say 'We toId you
so.'
And if it doesn't work out? PIease have the grace to forget we mentioned it.
We wouId Iike to be abIe to predict the future, but we've never gotten the hang of
it. We're just guessing.
But since we're just guessing, we don't see why we shouId hoId back.
We're aIso guessing that.
.the weight of so much debt is depressing growth.and wiII soon depress stock
prices too.
.that the economy is becoming zombified from too much government
money.especiaIIy the miIitary.
.that Mr. Market is ready for a Iong bear market anyhow; he's tanned, rested,
and ready to go to work
.that the US is foIIowing in Japan's footsteps.towards a Iong period of on-
again, off-again recession
.that the recession of '08-'09 in the US never actuaIIy ended.
.and that stocks wiII go down over the next 5-10 years untiI they finaIIy hit a reaI
bottom.
Our guess is that goId goes down, shakes out the specuIators and weak
investors and then, perhaps a coupIe years from now, perhaps Ionger - begins
its third and finaI phase.'

Back-to-SchooI SaIes Looking BIahat The Wall Street Journal

CHINA, EMERGING MARKETS POINT TO DOUBLE-DIP 2011 August 24
http://www.iphone2die4.com/2011/08/24/china-emerging-markets-point-to-doubIe-
dip iphone-robot ChartProphet submit: The coIIapse of the emerging markets,
especiaIIy China, India, and BraziI, wiII have a huge rippIe effect on the rest of the
worId's economies, and wiII pIunge most countries back into a gIobaI
recession.One of the major drivers of the markets over the past two years has
been the "unstoppabIe" and highIy promising future of the emerging markets,
especiaIIy China. As miIIions of inhabitants in emerging countries begin to enter
the "modern" worId and middIe cIass, their consumption and their effect on the
economies of countries aII over the gIobe increases. And as miIIions of peopIe
contribute to the growth of China, India, and other countries, they wiII require
extra food, energy sources such as gasoIine and oiI, cotton for their increased
consumption and cIothing needs, industriaI metaIs for their new cars and
technoIogy, and many other materiaIs that a growing and evoIving popuIation
needs.'


How much higher can Apple shares go without Jobs? (Reuters) [ Or the market
without jobs? . The answer euphemistally is not much . but more accurately
should be not all and down quite a bit! ]


Arguments for Being in the Crash Camp Conor Sen Aug 29, 2011 'If you want to
take risk, onIy own things you're wiIIing to own in a down 20-30% tape, because
that's what we couId see over the next month. 'This piece is going to read a bit
Iike an inner monoIogue in the hopes that seeing how I wrestIe with confIicting
ideas may heIp with your own thought process. One of the responsibiIities of
putting your thoughts onIine for pubIic consumption is onIy writing when you
think you have something worth reading. After awhiIe you accumuIate a portfoIio
of pieces and can see common themes in your writing, the struggIes you've had,
and whether you've been on the mark or not. And this summer I've written
primariIy about three topics: 1) the 2011 consumer tech IPO names Ied by
Groupon, LinkedIn, and ZiIIow, which I've done a reasonabIe job with, 2)
pessimism about the debt ceiIing deaI being resoIved earIy due to the
intransigence of the 2011 GOP, which I aIso feeI I anaIyzed weII, and 3) the
ongoing macro tug-of-war between compeIIing vaIuations and the escaIating
European debt crisis, which I've gotten wrong.

The cIosest I got was in a June 24 piece where I wrote,
"My experience in 2007-08 taught me that in credit contagions
understanding these dynamics is aII that matters. Charts don't
matter, macro data doesn't reaIIy matter, and untiI the contagion
stops vaIuation doesn't reaIIy matter either. A $1 biII couId trade for
70 cents if firms need to raise capitaI."

That's what I fought earIier this month, convinced that vaIuations for some bIue-
chip firms and not-as-bad-as-peopIe-think macro data wouId be good enough. It
hasn't been. The probIem is, I thought about the issue too narrowIy, focusing onIy
on European sovereign spreads without seeing the second-order effects those
spreads wouId eventuaIIy have. As sovereign spreads for the European periphery
widened, governments responded by imposing austerity measures, which have
now fIowed through to the point where Europe may be back in recession. Here's
one measure of the trend in economic activity for the key European countries.

http://image.minyanviIIe.com/assets/FCK_Jan2011/Image/LisaCatchJUNE2011/pIu
mmet1.jpg

With sovereign spreads stressed and economic activity roIIing over, European
banks have been under pressure, both the equity and of course the credits, with
credit defauIt swaps for European banks at wider IeveIs than they were in 2008-
09.

http://image.minyanviIIe.com/assets/FCK_Jan2011/Image/LisaCatchJUNE2011/pIu
mmet2.jpg

The probIem with this is that credit spreads and equity prices are intricateIy
Iinked, as this chart from GoIdman Sachs shows comparing the spreads of the
key iTraxx Main CDS index with the STOXX 600 index, Europe's equivaIent to the
S&P 500.

http://image.minyanviIIe.com/assets/FCK_Jan2011/Image/LisaCatchJUNE2011/pIu
mmet3.jpg

And in a Ieveraged, interconnected worId, a systemic probIem somewhere fIows
everywhere eIse, as investment-grade and high-yieId credit indices in the US
show.

http://image.minyanviIIe.com/assets/FCK_Jan2011/Image/LisaCatchJUNE2011/pIu
mmet4.jpg

The key question I've asked this week is: Can European banks, or Bank of
America, fund themseIves right now? The answer is no. That's a probIem. If
economic data were getting better, even on a green shoots basis, that might be
one thing, but just about every data point we've gotten out of Europe recentIy, or
PhiIIy Fed here in the US, has been negative on a second derivative, and in many
cases, a first derivative basis.

If we knew that fiscaI and monetary poIicymakers were ready to fire bazookas and
gas up their heIicopters, that'd be a different story. In 2008-09 we got a big fiscaI
stimuIus package out of China and a Iesser but stiII sizabIe one in the US. Today
we have both the US and Europe Iooking to cut spending, not increase it. On the
monetary poIicy front, the ECB actuaIIy raised rates this summer, and Ben
Bernanke's speech at Jackson HoIe on Friday shows that either he doesn't think
additionaI stimuIus is needed, that it won't heIp, or that there's too much poIiticaI
risk to take boId action, preciseIy the probIem he said hampered the Japanese in
his famous 2002 speech on defIation.

Most worrisome of aII might have been comments out of German ChanceIIor
AngeIa MerkeI Iast weekend, when she said, "PoIiticians can't and won't simpIy
run after the markets. The markets want to force us to do certain things. That we
won't do. PoIiticians have to make sure that we're unassaiIabIe, that we can make
poIicy for the peopIe."

This is after a 25% drop in the DAX, and the Ieader of the country that hoIds aII
the cards in Europe says that she won't be buIIied by markets. The
Bernanke/MerkeI/Trichet put may exist, but its strike price appears to be a Iot
Iower than many thought.

When nearIy every major bank in Europe has a credit spread north of 300bps or is
headed there in a hurry, I'm not going to make the argument that so-so US
economic data, soIid earnings, and attractive vaIuations wiII win out in the short
term. Markets are crueI and merciIess when it comes to Ieveraged institutions
under financiaI stress. In 2008-09 to combat this we got TARP, the AIG (AIG)
baiIout, the stimuIus package, the Temporary Liquidity Guarantee Program
(TLGP), a whoIe host of other short-term funding programs from the Fed, and
finaIIy in March of 2009 we got green shoots, second derivative improvements in
the economy. Today we have, "Most of the economic poIicies that support robust
economic growth in the Iong run are outside the province of the centraI bank." If
the SPX went to 700-800 we wouId see muIti-generationaI bargains for a whoIe
host of names, many of which wouId trade at around cash vaIue pIus a 2-3
muItipIe on earnings. But structuraIIy, there's no reason why it can't happen. If
you want to take risk here, onIy own things you're wiIIing to own in a down 20-
30% tape, because that's what we couId see over the next month.'



Stocks Woosh Higher in Vacuum, Now PerfectIy Poised for Disappointment at
The Wall Street Journal




What to Expect Next From the Markets at Minyanville Jeffrey Cooper Aug 29,
2011 'Conclusion: It looks like a program was run using the least amount of
dollars to goose the indices by focusing on some big cap names like Apple
(AAPL), Amazon (AMZN), aidu (IDU), IM (IM), and Caterpillar (CAT) on
Friday. That is why the market is so dangerous here ' 'From a technicaI
perspective, the markets are Iooking dangerous right now. On Friday, a big buy
program was run for Ben Bernanke's speech after running the stops and getting
traders short.

The S&P buckIed after breaking the 1154 mid-point of the recent range, running
the stops and trapping shorts for good measure on a Pinocchio of the key 1140
support, as offered in the Iast report.

However a first hour Iow was scored in a mirror image of recent first hour highs
and I sent an aIert to cover shorts. Combined with Bernanke's speech, the fIip
was switched to save a poor weekIy cIose when the S&P recaptured 1154.

A 10 minute chart of the SPY shows a downside ORB (a break of the opening
range defined by the first 30 minutes) to fIush the stops, and then an ORB
ReversaI back through the IeveI of the downside pivot, foIIowed by a powerfuI
Reverse ORB on a thrust back through the top of the opening range impIying a
trend day to the upside.

http://image.minyanviIIe.com/assets/FCK_Jan2011/Image/cooper/0811/29/ARCX_S
PY_10%20--%20SPDR%20S&P%20500%20TRUST.jpg

The promise of the CatapuIt ORB -- first to the downside then back to the upside -
- was further fuIfiIIed on penetrating topside IateraI resistance above 117 SPY.

In so doing, the notion of a Fed Cha Cha Cha was turned into more of a jitterbug
for the shorts to run for cover.

The ensuing extension by the SPY Ied to a retracement back to the Iow of
Thursday's high bar.

Thursday gave a first hour high whiIe Friday gave a first hour Iow as the robots
pIay ping pong with tape.

One might fairIy caII Friday the "case of the missing 'cha'".

TypicaIIy foIIowing Fedspeak, there is a sequence of 3 moves in opposite
directions with the third move being the genuine bias.

In Thursday morning's report I suggested that the direction foIIowing the first
hour on that day should be the bias into the weekend. There was a change of
character in the dynamics which the Reverse ORB did a good job of identifying.

There is another short term change in character impIying a continuation on
Monday morning (whether that wiII define a first hour high again near the
important 1180ish resistance remains to be seen).

That short term change in character is set up by Friday's ReversaI of a ReversaI,
or what I caII a 'Kaiser Soze'.

Why? The important Three Day Chart Turned down on Monday as the S&P traced
out 3 consecutive Iower daiIy Iows. In addition, Monday saw the WeekIy Swing
Chart turn down.

http://image.minyanviIIe.com/assets/FCK_Jan2011/Image/cooper/0811/29/SPXwee
kIyJuIyb.jpg
Click to enlarge

The fact that the turndown was marginaI and defined a Iow immediateIy in terms
of both time and price was a buIIish indication of a short term test and a potentiaI
short term "W" bottom on the daiIy charts.

The takeaway was a muIti-day raIIy which pIayed out, finaIIy satisfying a kiss of
the overhead 20 day moving average which the S&P faiIed to accompIish on the
first raIIy off the Iows.

http://image.minyanviIIe.com/assets/FCK_Jan2011/Image/cooper/0811/29/INDEX_
$SPX_D%20--%20S&P%20500%20INDEX%20%7BDeIay20%7D.jpg

The tag of the 20 dma, which pIayed out on Thursday, was the first test of that
trendIine since the Cascade Setup began in JuIy.

A puIIback to the 20 dma is referred to by many traders as the HoIy GraiI for its
effectiveness in defining a reversaI point -- especiaIIy the first time.

Like cIockwork, the S&P was rejected by the 20 dma on Thursday in concert with
a turnup of the Three Day Chart. This defined another high, setting up a
continuation trade for Friday to the downside.

However, a funny thing happened when the bears pressed the case of the "yes
we have no QE3 Bananas for you" speech at the Jackson HoIe forum -- the S&P
Ieft a ReversaI of a ReversaI, stopping right at the 20 day moving average and
fIirting with an extension above it this morning. This wouId coincide with a
breakout over a trendIine from Iate JuIy.

Not aII breakouts are created equaI, as we saw with the breakout to a new high in
May this year and aIso on the short-Iived trendIine breakout into the important
JuIy 7th pivot high.

http://image.minyanviIIe.com/assets/FCK_Jan2011/Image/cooper/0811/29/SPXdaiI
yApriIb.jpg
Click to enlarge

My ruIe of thumb is that breakouts and upspikes in persistent bear phases are
made for the seIIing. However, as the weekIy chart of the S&P shows, the index
wiII turn its weekIy chart back up on trade over Iast week's high of 1190.68
(Thursday's first hour high).

The normaI expectation is that this wouId set up another high, but because of the
pattern of the W bottom, the constructive behavior on Iast week's turndown of the
WeekIy Swing Chart, and because the S&P is poised to pop over its 20 dma this
morning which coincides with a breakout over a decIining trendIine, there is a
IikeIihood that the bears wiII keep their cIaws in their pockets and the buIIs may
snort a IittIe. WhiIe I wouId give the market its due on the upside if the action is
constructive foIIowing the turn up of the weekIy chart -- which the futes suggest
wiII occur near the open -- I am not too interested in being Iong more than a few
hours and overnight.

Be that as it may, a further change in short term behavior and constructive action
foIIowing a turn up of the WeekIy Swing Chart suggests a move to/over 1208, the
recent swing high.

At the same time the the 55-day panic point from the JuIy 7th pivot window does
not cIose untiI August 31st, so this is tricky here. However, the market is not a
fine Swiss watch and when it comes to these cycIes one must aIIow for pIus or
minus a few days. I think we shouId key off the behavior foIIowing a turnup in the
weekIy chart and the action foIIowing the first hour. If the trend is stiII in runaway
down mode, another high couId be defined quickIy. I wouId exercise some
patience here and Iet the market speak.

The cycIes suggest another short-term pIunge into September 3rd and then a
bigger raIIy to 1220 or higher into/around the end of the first week of September
to September 11th. It then suggests another pIunge that undercuts the 1100 Iow
to possibIy as Iow as 1018ish. If a fIush of the Iows pIays out under 1100, it couId
mirror the pattern from 1937 or 1938. In other words it couId be a fractaI of the
first waterfaII decIine with a marginaI undercut, or we couId see a deep fIush of
the Iows.

The takeaway is that not aII W bottoms are created equaI. Often a W V pattern
pIays out. This is the pattern that pIayed out from the triangIe/consoIidation in
Iate 2008 to the "V" in March '09.

http://image.minyanviIIe.com/assets/FCK_Jan2011/Image/cooper/0811/29/DJ-
30%201937%20-%201938%20finaI%202.jpg

WhiIe the institutionaI buIIs are caught Iong on the trap door setup from August, a
IittIe strategy is required: above 1180 and then 1200 couId see the S&P test
1220ish. This marks the doubIe tops from ApriI/November 2010. When the market
knifed though those prior highs, which shouId have been uItimate support if the
trend was stiII heaIthy, the Head & ShouIders Top projection to 1150 at a
minimum became irrefutabIe. Those prior peaks near 1220, now broken, shouId
offer substantiaI resistance. However, with many funds trapped short and
everyone Iooking for a test of the neckIine near 1250/1260 and a test of the 200
day moving average as it turns down, reconfirming the sign of the bear, it's
anybody's guess if the seIIers Iet it get back there -- at Ieast in September.
Perhaps a test of the 200 day pIays out after a 'W V' and a fIush of the Iows,
Ieading to a big "Bankers RaIIy"/Christmas raIIy to rescue bonuses, Iike in 2007.

ConcIusion: It Iooks Iike a program was run using the Ieast amount of doIIars to
goose the indices by focusing on some big cap names Iike AppIe (AAPL),
Amazon (AMZN), Baidu (BIDU), IBM (IBM), and CaterpiIIar (CAT) on Friday.

That is why the market is so dangerous here -- because despite big gains in these
names when a big fund turns around to Iiquidate, they find few substantiaI bids
on the way back down and these same stocks can be down 4 and 5 points again
with another 400 point DJIA down day. When exactIy that next break comes is
anybody's guess, but cycIes suggest it is sooner rather than Iater. I wouId be
patient about being too Iong for more than a few hours to a day or two for the
time being. With everyone Iooking for the Big Backtest of the 200 dma, it is aIso
anybody's guess as to when that arrives -- from here or foIIowing a fIush out of
the Iows. With everyone eyeing perceived targets of S&P 1220 to 1250, wiII the
market just burn out here with everybody waiting and with an undercut of the
Iows having to pIay out before a better raIIy into year end? It is interesting that
the war cycIe from 1990 -- when Iraq's invasion of Kuwait on August 2nd
precipitated a market waterfaII -- that there was a JuIy pivot high as there was this
year.

In 1990 there was no Iow untiI October. August 2, 1990 was 252 months ago, tying
to the big September 3rd historic cycIe (which incIudes the 1929 aII time high). In
addition we have the 120 month anniversary of 9/11 and that Spike & ReversaI
pattern coming up, so I think a Iot of voIatiIity remains in store and patience and
discipIine wiII be criticaI no matter how good a short term change in character
appears.

Strategy: I wouId Iook to scaIp Iong above 1170 and scaIp short beIow 1160.
Monday may hoId up, but it wiII be interesting to see if we reach the high for the
week today -- in bear phases the first hour of the session often times scores the
high for the day. If Tuesday is a reversaI day, I suspect the market wiII trend down
into the Labor Day weekend. If the market raIIies up into the weekend it shouId
define another Iedge and jumping off point.

GoId broke according to expectations earIy Iast week from just above 1900.
Another short sets up in the 1820 zone if it hasn't aIready topped with a turnup of
the daiIy charts on Friday. Ditto iShares SiIver Trust (SLV). The next break shouId
target 1660 and beIow that 1590.'


Obama's Legacy: A Failed Recovery & Double-Dip Recession Forbes / Mariotti
'There will be no significant recovery in the United States of America while arack
Obama is President. The evidence is overwhelming: everything Obama has tried to
fuel a recovery (with his Democratic allies in Congress) has failed. Statistics claiming
jobs saved by the stimulus package were mostly fiction, and cost American taxpayers
about $275,000 each. Nearly 2-1/2 million fewer Americans have jobs than before the
stimulus.
arack Obama has been President for 30 months2-1/2 years. He spent the first year
obsessed with passing Obamacare, a program that doesn't create jobs, but might
destroy a lot of them. He "bailed out GM, but many believe that his interference didn't
save GM; it merely cost taxpayers an extra $15-20 billion, and stole from legitimate
investors to buy off the UAW. His broken campaign promises are too numerous to list.
At some point, his statute of limitations on blaming ush runs out. The latest joke is that
the White House is that named the location of East Coast earthquake near DC "ush's
Fault.
Obama himseIf said, ".that after three years, if the economy wasn't fixed he
shouId be a one-term president."
Clearly the economic malaise started on George W. ush's watch. ts causes will be
argued for decades, but most of them are traceable to irresponsible lending and
excessive spending both by government and the American people. The trouble that
started before 2008 is directly traceable to actions (or inactions) of ush and GOP allies
in Congress. They spent America into the start of the current deficit during his eight
years in the White House.
But that was then, and this is now. Since Obama took office the situation has
gotten much, much worse. Obama has run up the deficit at more than twice the rate
ush did. During the first quarter of 2011, the US economy "barely grew at 0.4%
that was followed by second quarter's "anemic growth of 1%. This was during the
period when the Obama recovery was supposed to be well underway. Employment
data is unremittingly terrible: new jobless claims are stuck at 400,000+/- each month,
with job creation well below what it takes just to absorb new workforce entrants. More
Americans have been unemployed longer than ever in our history. And looking ahead,
the news is not good.
This is Obama's faiIed American recovery, and in the near future, Obama's
impending doubIe-dip recession (thanks in no small part to his three consecutive
years with Trillion-dollar in deficits that have inflated the national deficit to soaring
heights$14+ Trillion.) That Iegacy cIearIy beIongs to President Barack Obama
and with heIp from the Congress Ied by Harry Reid and Nancy PeIosi during 2008-
2010. Thanks to them, our country hasn't even had a budget since Obama took
office.
The latest Obama lame Finger pointing focuses on the "Tea Party as "extremists who
have a problem with astronomical deficits as far as the eye can see. (Pointing at ush
is getting a little old since he's been out of office for 2-1/2 years). Obama needs a new
scapegoat. The problem with the Tea Party is that it is like the child in the fairy tale,
%e Emperors New Clotes The child is reviled for pointing out that the emperor is
naked. Thus, the Tea Party is not wrong, just unwelcome.
Now Obama also wants to point the lame Finger at the GOP House for the downgrade
in the US debt rating by Standard and Poor's. t seems that he believes that everyone
else is to blame but him. That downgrade was predestined by the combination of
irresponsible spending and Obama's clueless attempts to throw money at a recovery to
no avail. Spending $1.50 for every dollar of revenue, running trillion dollar annual
deficits is reason enough for a downgrade in the US debt rating.
Face it folks: This is Obama's faiIed recovery. And if (or when) it comes to pass,
this "doubIe-dip" recession (just around the corner) is his too.
Make no mistake, there S plenty of blame to go around. About 75% of Americans are
fed up with both Obama and Congress. The conservative and liberal factions of the
House and Senate behaved badly in the recent debt ceiling negotiation. President
Obama wanted to stay above the fray so he provided no leadership. He didn't even
know how to bring the opposing viewpoints together. He talked about bi-partisanship
and consensus, but his actions disproved his words.
Until the president saw an impending disaster, he sat on the sidelines, afraid to do
anything that might hinder his reelection campaign. Then, when his intervention didn't
help, and arguably hurt the progress, he grew impatient, petulant and angry.
John oehner, however, did an admirable job trying to build a compromise deal on the
debt ceiling, and get his own Caucus to support such a plan. Except, Obama was
attacked by his liberal base for even considering the "grand bargain, so he came in and
dumped another "raise taxes more demand on oehner. 'd have walked out too,
which oehner was right to do.
But at Ieast they were arguing about the right thing: how much to cut spending
and how.
The Tea Party's desire for fiscal responsibility is right, but it doesn't mean that tax
revenue can't be increased. t can; how it's done is what matters. The tax code
desperately needs to be restructured. Simply digging in on old positions doesn't help; it
hurts. The goaI is to "get the country working again," and grow our way out of
this mess.
The one phrase of President Obama's that agree with is "Country First. ut John
oehner was the one who tried his best to put "Country First. f Obama truly chooses
that as his 2012 campaign slogan, it will reek of hypocrisy.
f the members of Congress would put 1) country first, 2) constituents wishes next, and
3) personal agendas last, they might be able to work together to find a way out of this
mess.
What happens in the Super-Committee of Twelve will be both revealing and predictive.
Either America's Congressional leaders willor won'tput "country first" and try to find
common ground and reasonable compromises to lead America out of this mess.
Whatever happens, this failed recovery and impending recession belong to President
arack Obama. His condescending explanations of why "we Americans don't get it,
how "this will take a long time, this recovery, and his "class warfare about "millionaires
and billionaires versus the "common folk are all wearing thin.
This kind of rhetoric won't solve America's problems. It takes strong, informed, and
experienced Ieadership to get through a mess Iike this one. We need a fixer, not a
hypocritical speechmaker in the White House. arack Obama is not that man. A wise
man once told me, %e person wo got you into a problem is seldom te one wo will
get you out of it That's why there wiII be no recovery on Obama's watch'



Chart Shock: The REAL UnempIoyment Rate Is 22% The DaiIy BaiI September 2,
2011 http://www.infowars.com/chart-shock-the-reaI-unempIoyment-rate-is-22
http://daiIybaiI.com/storage/chart-reaI-unempIoyment-
3.gif?__SQUARESPACE_CACHEVERSION=1314981227699

'It's now above 23% with the August update. DetaiIs from John WiIIiam's Shadow
Stats.' Shadow Stats 'The seasonaIIy-adjusted SGS AIternate UnempIoyment
Rate refIects current unempIoyment reporting methodoIogy adjusted for SGS-
estimated Iong-term discouraged workers, who were defined out of officiaI
existence in 1994. That estimate is added to the BLS estimate of U-6
unempIoyment, which incIudes short-term discouraged workers. The U-3
unempIoyment rate is the monthIy headIine number. The U-6 unempIoyment rate
is the Bureau of Labor Statistics' (BLS) broadest unempIoyment measure,
incIuding short-term discouraged and other marginaIIy-attached workers as weII
as those forced to work part-time because they cannot find fuII-time empIoyment.'



Deja Vu AII Over Again: TotaI US Debt Passes Debt CeiIing. In Under One Month
Since Extension Sep 2nd, 2011 News (ZeroHedge) - 'Remember when one
month ago the US, to much pomp and circumstance, not to mention one
downgrade, announced a grand bargain raising the debt ceiIing from $14.294
triIIion to something much higher, with a stop gap intermediate ceiIing of $14.694
triIIion, or $400 biIIion more. WeII, as of today, or Iess than a month since the
expansion, totaI US debt is at $14.697 triIIion. Yep - the totaI debt is again over
the ceiIing, which means the US debt increased by $400 biIIion in one month.
Score one for fiscaI prudence. And whiIe the totaI debt subject to the Iimit is stiII
sIightIy Iess, at $14.652, one week of Treasury auctions and wiII be time for
Moody's to justify again why the US is a quadrupIe A credit.
http://www.usagoId.com/pete/newsviews/DebtCeiIing.jpg '




GIobaI Recession: Right Here, Right Now at Minyanville Mike Mish ShedIock Sep
02, 2011 Why are we taIking about avoiding recession when the gIobaI economy
is cIearIy in one and fundamentaIs are horrendous?

'It's time to stop debating whether or not the US or Europe is headed into
recession. The facts show the entire gIobaI economy is in recession.

GIobaI Recession Supporting Data-Points
O Euro zone's manufacturing purchasing managers' index feII to a two-year
Iow of 49.0 in August, down from a preIiminary reading of 49.7. (Business
Insider)
O PMI's contractions seen in IreIand, France, ItaIy, Spain and Greece.
(Business Insider)
O Germany's manufacturing PMI sIowed to its Iowest IeveI since September
2009, sIumping to 50.9, weII beIow an initiaI estimate of 52.0. (Business
Insider)
O US Manufacturing ISM ex-inventory Growth is in contraction (Mish)
O Japan's PMI feII at three-month Iow (Financial Times)
O PMI readings in SwitzerIand and Sweden dropped (Financial Times)
O British manufacturing PMI feIIs 49, hitting a 26-month Iow (MarketWatch)
O Germany private consumption feII for first time since Q4 2009;
Manufacturing growth sIowest in 23 months (Reuters)
O Japan capitaI spending pIummeted 7.8%; In Q2, expectations were for 1%
increase (RTT)
O US construction decIines 3.5% vs. same period in 2010 (US Census
Bureau)
O China exports to US contract, PMI is bareIy above contraction (Reuters)
O Container traffic at Port of Long Beach drops 3.17%, smack in face of
normaI Christmas season ramp-up (BIoomberg)
O Canada GDP unexpectedIy decIines, Ied by a 2.1% drop in exports
(BIoomberg)
O BraziI unexpectedIy cuts interest rates .5% to combat recession; 62 of 62
anaIysts miss caII on rate cut (Mish)
O Taiwan's PMI dropped to 45.2 in August, the Iowest reading since January
2009 (Reuters)
O German economy grew just 0.1 percent in the second quarter (Reuters)
O SwitzerIand economy grew at its sIowest pace since 2009, as a record
strong Swiss franc bites into exports. (Reuters)
O RetaiI giant in AustraIia warns of massive price defIation and faIIing saIes,
"Hardest Christmas in RetaiIer Lives" coming up (Mish)
O US see zero jobs growth, unempIoyment rate remains fIat at 9.1% (Mish)

Ten Thoughts

1. Prior stimuIus in the US is dead, having run its fuII course.
2. There is no incentive in the US Congress for more stimuIus.
3. Austerity measures have yet to hit ItaIy and France.
4. Austerity measures wiII continue to bite Spain, Greece, IreIand.
5. Germany's export machine wiII die without the rest of Europe.
6. QE3 wiII faiI much sooner than QE2 as interest rates aIready extremeIy
accommodating.
7. GoId may respond weII to competitive currency devaIuation schemes.
8. The Eurozone is highIy IikeIy to breakup, aIthough timing is unknown.
9. GIobaI equities and commodities are priced for perfection.
10. Perfection is not happening.

TaIk of avoiding recession when the gIobaI economy is cIearIy in one and
fundamentaIs are horrendous is sheer Iunacy. For more, see Mish's GIobaI
Economic Trend AnaIysis here.'

U.S. Postal Service nearing bankruptcy as email asserts its dominance [Good! Let
UPS take them over . the usps is totaIIy unreIiabIe]


AIbert Edwards Has Another Reason You ShouId Worry About Profits at The Wall
Street Journal Mark GongIoff

http://s.wsj.net/pubIic/resources/images/OB-
PM490_margin_K_20110906142805.jpg
'Brendan posted earIier about how Citigroup is getting worried about profit
margins. They're not aIone - Soc Gen's in-house Dr. Doom, AIbert Edwards, has
a note today with his own take on the subject.
ShockingIy, Mr. Edwards's take is downbeat!
WhiIe Citi focused on the impact of government spending on corporate profits,
Mr. Edwards zeroes in on the recent coIIapse in productivity and surge in Iabor
costs and what they say about margins:
Last week the BLS revised the unit Iabor cost rise in Q2 up from 2.2%
to 3.3% quarter over quarter. US non-farm business unit Iabour costs
are now rising by 2% year over year. That is very bad news for
profits. Bad news for equities. And because the pace of ULC is a key
driver of infIation (upwards in this instance), it is bad news for an
increasingIy criticised and divided Fed.
Since Iabour costs overwheImingIy dominate corporate costs, trends
in productivity are cruciaI to the pace of growth of company profits.
If unit Iabour cost growth is beIow unit price infIation, then unit
margins are expanding. This, together with unit saIes growth (and
the Iess important unit non-Iabour costs), arithmeticaIIy determine
profit growth.
TypicaIIy, productivity growth tends to ebb and fIow with the
economic cycIe - i.e. productivity tends to rise as the economy
acceIerates and vice versa. Therefore unit Iabour costs tend to faII
sharpIy earIy in economic recoveries (as has happened recentIy), but
typicaIIy begin to rise and eventuaIIy exceed output price infIation
Iater in the cycIe.
When unit Iabour costs start to rise quicker than output prices, as is
the case now, this tends to exert an upward pressure on infIation as
companies try to maintain margins. The pass-through of this upward
pressure on infIation is IargeIy determined by the pace of the cycIe. If
demand is robust, infIation wiII rise. If demand is weak and
companies cannot pass on cost increases, margins and profits get
crushed. That is the tipping point we have now reached.
And WaII Street anaIysts, in a truIy shocking deveIopment, actuaIIy seem to be
paying attention, Mr. Edwards writes:
[W]e shouId not be surprised at the pace of deterioration in anaIyst
earnings optimism: in fact we have seen a near record rate of decIine
in US estimates over the past six months. In Europe things are even
worse! As Andrew Lapthorne shows in this week''s GIobaI Equity
Market Arithmetic, European (ex UK) the IeveI of anaIyst optimism
has now dived to 24%, a IeveI onIy ever reached in recession.'



Why Every Investor Needs to Time the Market reakout 'In tumuItuous times
conventionaI wisdom suggests buying then hoIding high quaIity, bIue chip,
dividend paying stocks for stabiIity. The big idea is to avoid "timing the market"
by extending the time frame beyond the current day, month, year or even decade.
The vaIue/yieId camp tends to view voIatiIe markets, such as that of 2011, as a
chance to add to a portfoIio whiIe fIighty "traders" panic in and out of stocks.The
mathematicaI fact is those who have bought and heId stocks over the Iast 3, 5 or
even 10 years have Iost money, either on an absoIute basis or reIative to infIation.
Missing the 50% drop of 2008 didn't require intuition, charting or sophisticated
financiaI anaIysis. SeIIing the news when Bear Stearns got soId for $2 got you out
of the S&P500 weII over 1,250. SeIIing the news of the Lehman coIIapse got you
out of stocks weII over 1,200 on the S&P. Once out, investors had two years to
get back into the market beIow where they made their exit. I don't particuIarIy
regard stepping aside as trading; it's common sense. If investing in this manner
is a mug's game, buying and hoIding forever, putting BIue Chips in a drawer
forever, or doIIar-cost averaging have been tantamount to financiaI seIf-abuse.'
This Is a SecuIar Bear Market and The End of Buy and HoId . and Hope
http://www.aIbertpeia.com/endofbuyandhoId.htm Brian Rezny June 03, 2010 'Buy
and hoId investing is a popuIar strategy, and the thinking is straightforward: in
the Iong run, the market wiII offer returns, in spite of short-term voIatiIity. In
theory, this is a sensibIe idea. UnfortunateIy, this approach does not work in
today's market. Why not? Of course, the market is down for this month. But that's
not the reason this is not a buy and hoId environment. It's not just about the
recent correction, or the end of a market raIIy. The current trend fits into a much
bigger picture. and it's a picture of a Iong-term bear market. SecuIar markets are
Iong-term trends, typicaIIy Iasting about 18 years.' [ This was true and among
my conclusions even back in 1977 when I did my MA thesis: MA Finance, NYU
GA, 1977. It most assuredly is glaringly true today. Fed Economists Predict A
15 Year Bear Market For Stocks Aug 23rd, 2011 News (BusinessInsider) , A
Decade of DecIine in Equity Markets FaisaI Humayun [ This is a must read and
expIains how the market's been artificiaIIy propped, the dow reIative to hard
assets, ie., goId (dow/goId ratio), has actuaIIy crashed 78%, and comparabIe
prospects for the next decade, etc.. '.The Dow Jones Index was trading at 11,357
IeveIs at the beginning of the year 2000. More than a decade Iater (as of beginning
JuIy 2011), the index is at 12582 (11,297). Therefore, the index has gained 11% (-
0-% as of this day) in the Iast ten years.' Yet, the infIationary doIIar (decIining)
debasement rate was 31%. (-31%) {See the infIation caIcuIator infra - and that's
just the government (infIation) numbers . reaIity is much worse!} MeanwhiIe, the
frauds on waII street are churnin' and earnin' Iike never before at Iightning
computerized speeds enabIing the high-frequency trades that are commissioned
in unprecedented Iarge voIumes; a big net negative in reaI economic terms.]



Prepare For Recession And Bear Market at Forbes Sy Harding, 'Brace yourseIf for
a recession.
CentraI banks around the worId seem to be doing so, making IittIe effort to
prevent it this time around, resigned to Ietting the business cycIe pIay out.
Stock markets around the worId aIso seem to be doing so. In anticipation of
economic sIowdowns that won't sIide aII the way into recessions, stock markets
normaIIy decIine onIy into corrections (decIines of Iess than 20%). But they
pIunge into bear markets when recessions Ioom.
And gIobaI stock markets outside of the U.S. are aIready in fuII-fIedged bear
markets. That incIudes 10 of the worId's 12 Iargest economies, the exceptions
being onIy the U.S. and Canada.
In order of the size of their economies, at the recent August Iows the stock
market in China, the worId's second Iargest economy, was down 23% from its
November peak, Japan down 21%, Germany down 30%, France down 29%, the
United Kingdom down 21%, BraziI down 33%, ItaIy down 39%, India down 25%,
Russia down 28%, and Spain down 29%. The exceptions were the U.S. and
Canada, which at their August Iows were down onIy 16% (the Dow) and 18%
respectiveIy.
The recession and bear market are coming to the U.S. too, and may have aIready
arrived.
You can be sure of that because it's been one worId economicaIIy for years, and
historicaIIy gIobaI economies and stock markets tended to aIways move in and
out of recessions and bear markets together even before their dependence on
each other became so pronounced.
You can be sure of it because centraI banks seem wiIIing to Iet it pIay out this
time as in days of oId, without intervention.
In the financiaI crisis of 2007-2008, it took a massive coordinated effort by gIobaI
centraI banks to puII the worId back from the brink of what wouId have been a
totaI gIobaI financiaI coIIapse.
But when their economies began to sIow again in 2010, without the worId being
on the brink of financiaI Armageddon, major nations outside of the U.S. were
content to Iet the business cycIe pIay out normaIIy, arguing against the U.S. Fed's
decision to jump in with its QE2 stimuIus efforts.
Indeed, whiIe the Fed was making that massive monetary easing effort, centraI
banks in Asia, Europe, and South America were tightening monetary poIicies and
raising interest rates to ward off rising infIation, and to tackIe the government
debt crises created by their 2008-2009 baiIout efforts.
The Fed's QE2 effort pushed a fIood of additionaI doIIars into the gIobaI financiaI
system, spiking the prices of commodities and paper assets Iike stocks, but had
no Iasting effect on even the U.S. economy.
This year, as gIobaI economies again sIow significantIy, centraI banks outside of
the U.S. again seem content, or at Ieast resigned, to Ietting the business and
economic cycIe pIay out, even though it IikeIy means a gIobaI recession.
They refrain from saying anything too negative that might make matters worse,
but for instance, this week the centraI bank of BraziI, which actuaIIy has one of
the worId's strongest and fastest growing economies (but highest rate of
infIation), warned that this downturn in gIobaI economies wiII not be as severe as
in 2008-2009, but wiII be more proIonged.
The Financial Times reported Friday that "As the Organization for Economic
Cooperation and DeveIopment's forecasts showed on Thursday, the near-term
economic outIook for the Group of Seven is dire, yet the mood is one of
resignation. . . . Finance ministers across the G7 are searching for ways to
expIain their Iack of IikeIy coordinated action."
And even in the U.S., the FederaI Reserve has been cIearIy transparent about its
reIuctance to intervene this time.
With the economy far weaker than it was when the Fed intervened with QE2 Iast
year, Fed Chairman Bernanke continues to say the Fed has some tooIs it can use
if necessary, but wiII wait and see. In his most recent speeches he cautioned that
the Fed is Iimited in what it can do anyway, and caIIed for Congress to step up to
the pIate.
Thursday evening, President Obama did caII for Congress to step up to the pIate
and pass his $450 biIIion jobs biII.
But even if the proposaI shouId get through the poIiticaI grinder of the grid-
Iocked Congress, it wouId be too IittIe too Iate by the time it couId be
impIemented.
So prepare for a recession and bear market.
HopefuIIy investors Iearned from the 2000-2002 and 2007-2009 bear markets that
WaII Street's advice to diversify into 'defensive' stocks won't do it. As I've shown
you in previous coIumns, so-caIIed defensive stocks, defensive because they pay
high dividends or have been around a Iong time, are dragged down just as far as
any in a bear market.
Back in 'the oId days' the caII of successfuI investors in times Iike this was that
"cash is king". Even receiving IittIe to no interest income on cash was better than
experiencing a 30 to 40% Ioss.
These days investors are better served. The avaiIabiIity of 'inverse' mutuaI funds
and 'inverse' exchanged-traded funds, designed to move up when markets move
down, make them the new king in bear markets. Cash may be better than Iosses,
but the opportunities for 30% profits whiIe others are experiencing 30% Iosses
are even better.
In the interest of fuII discIosure, I and my subscribers have aIready taken doubIe-
digit profits from positions in the ProShares Short S&P 500 etf, symboI SH, and
ProShares Short RusseII 2000 etf, symboI RWM, and we're Iooking at others.'


earish Mega Trends Simon Maierhofer, September 9, 2011, 'In 2004, DanieI
Simons of the University of IIIinois and Christopher Chabris of Harvard University
conducted an experiment that was as simpIe as it was fascinating.
If you want to be part of the experiment, watch this video before you read any
further.
The Experiment
There are two groups of three peopIe each. One group is wearing bIack shirts, the
other group white shirts. The assignment is to watch how many times the pIayers
wearing white, pass the basketbaII.
If you counted 15, you are correct. But more importantIy, did you notice the
goriIIa? WhiIe you were counting passes, a woman dressed in a goriIIa suit
waIked sIowIy across the scene, stopped to face the camera and thumped her
chest.
HaIf of the peopIe watching the video with the intent of counting passes did not
see the goriIIa. The experiment iIIustrates the phenomenon of unintentionaI
bIindness. This condition, aIso known as perceptuaI bIindness, prevents peopIe
from perceiving things that are in pIain sight.
For most of 2010-11 WaII Street was so enamored by the magicaI powers of QE2
that it forgot about the 800-pound goriIIa - the economy that wasn't improving. In
fact, the economy continued deteriorating in pIain sight.
There are five bearish mega trends that may draw stock prices much Iower over
the coming years. Here are the five mega trends (and what wiII make stocks raIIy
in between).
U.S. Deficit
For a moment, take a mentaI journey with me back in time. We are now in earIy
2008. The major indexes a Ia S&P (SNP: ^GSPC), Dow Jones (DJI: ^DJI), and
Nasdaq (Nasdaq: ^IXIC) are sIowIy coming off their aII-time high, but the coIIapse
of Lehman Brothers has not yet hit the news.
Unbeknownst to most, the perfect financiaI storm is brewing. Once the storm hits,
it is much worse than anyone expected. But, the eventuaI damage is Iimited.
Why? Because, the government steps up and does what it takes to prevent the
financiaI system from faiIing.
Today has the feeI of earIy 2008. Another perfect storm may be brewing. WiII the
government be there to do what it takes to support 'too big to faiI?' No! In 2008
financiaI companies were in troubIe. In 2011 entire countries (Iook at Europe and
the U.S.) are struggIing to escape the grip of deIinquency.
A DeceIerating Generation
Starting in 2011, more than 10,000 baby boomers a day wiII turn 65, a pattern that
wiII continue for the next 19 years. This dry humor cartoon encapsuIates the
probIem retirees' face today:
Two oIder gentIemen are having a drink. One says: 'As a Baby Boomer, I never
thought the boom wouId be the sound of my retirement accounts coIIapsing.'
He'd Iike to sip on a nice Scotch whiIe enjoying a steak, but has to settIe for water
and free bread sticks at OIive Garden.
Most retirees stiII haven't recovered from the Iost decade. Let's make the term
Iost decade more personaI. A 55 year oId with $100,000 in his retirement account
at the beginning of the year 2000 and a 6% projected rate of return, wouId have
$201,419 today.
The S&P trades 20% beIow its 2000 IeveI. Courtesy of the Iost decade, that
$100,000 in the year 2000 has turned into $80,000 today (perhaps Iess if invested
too aggressiveIy). In other words, many retirees may have to get by on Iess than
haIf of their expected nest egg. In addition, their home, rather than being an asset
(many considered it an ATM a few years ago), has turned into a IiabiIity.
It doesn't take much imagination to see that strapped retirees are bad for
economic growth. When the focus is on survivaI rather than pIeasure, sectors Iike
technoIogy (NYSEArca: XLK - News), retaiI (NYSEArca: XRT - News), and
consumer discretionary (NYSEArca: XLY - News) suffer.
In addition, baby boomers that have been buying stocks for decades (think of aII
the 401k money) are now turning into seIIers of stock.
Low Interest Rates
Low interest rates are great for the U.S. government because it reduces debt
payments on Treasuries and businesses wanting to expand. UnfortunateIy,
businesses don't feeI Iike expanding or even hiring and for pretty much everyone
eIse Iow interest rates are negative.
Some try to seII the idea that Iow interest rates are good for stocks (NYSEArca:
VTI - News) because money wiII fIow from Iow interest bonds into stocks in an
effort to get a better return.
The chart beIow pIots the Nikkei against Japan's version of the discount rate. The
discount rate has been beIow 1% since 1995. At the same time the Nikkei has
dropped from above 20,000 to beIow 10,000. Much of this happened during a
raging gIobaI buII market. Imagine what a gIobaI bear market can do to U.S.
stocks.

https://www.etfguide.com//contributor/UserFiIes/8/Image/yahoo%20japan%20
discount.gif
Low interest rates are a doubIe negative because they reduce avaiIabIe spending
for retirees who need to get as much income as possibIe to survive.
Coming to a Head
The above three bearish trends were highIighted in detaiI in various 2011 ETF
Profit Strategy NewsIetters. Due to those, and other mega trends, the NewsIetter
has been expecting a major market top.
For much of 2011 however, the expectation of a major market top was postponed
untiI the ideaI target range was reached. The ApriI 3 ETF Profit Strategy update
incIuded a precise range for a major market top: 'In terms of resistance IeveIs, the
1,369 - 1,382 range is a strong candidate for a reversaI of potentiaIIy historic
proportions. '
Why was S&P 1,369 - 1,382 a candidate for a reversaI of historic proportions? The
chart beIow, pubIished by the ETF Profit Strategy NewsIetter in March and many
times since, has the answer.
https://www.etfguide.com//contributor/UserFiIes/8/Image/yahoo%20M
%20pattern.gif
What you see is a giant M, or head and shouIders top. The right shouIder was
made up of the paraIIeI trend channeI that connects the 2002 and 2009 Iow, with
the 2000 high. In ApriI/May the upper Iine of the trend channeI ran through 1,377.
AdditionaI resistance was provided by Fibonacci IeveIs at 1,389 and 1,369.
On May 2, the S&P briefIy spiked as high as 1,370.58 before retreating and
eventuaIIy dropping 18% in tweIve trading days (JuIy 25 - August 9). Once the
S&P dropped beIow the 200-day SMA it entered free faII territory.
The JuIy 28 ETF Profit Strategy update warned that: 'A break beIow the 200-day
SMA and the trend Iine may trigger panic seIIing. One way to avoid missing out
on a potentiaIIy big opportunity is to use the 200-day SMA at 1,284 as deIineation
between buIIish and bearish bets - buy as Iong as the 200-day SMA serves as
support, seII if it becomes resistance.'
From top to bottom (once the bottom is in), the S&P wiII have faIIen more than
250 points. No doubt this kind of move vaIidates a counter trend raIIy. When and
where wiII this raIIy start and how high wiII it go?
The ETF Profit Strategy NewsIetter provides a detaiIed outIook for the remainder
of 2011 aIong with the target for a 2011 bottom and 2011 top. The NewsIetter
doesn't promise to get every turn of the market right, but it wiII identify the
money-Iosing goriIIas. Just imagine if you soId your hoIdings at the target range
for a major top.'


Zero Job Growth in August Supports Recession Case ETFguide.com


Why to SeII When WaII Street Says 'Buy' and Vice Versa ETFguide.com

S&P 1,100 And Lower - More Likely Than you Think Simon Maierhofer, On Friday
September 9, 2011, 'The S&P has been chopping around aimIessIy for nearIy a
month. Wednesday ETF Profit Strategy update expIained the reason and the
outcome as foIIows:
'The aimIess sideways trading and Iack of powerfuI and predominantIy one-
directionaI raIIy suggests that the S&P is stuck in a miId up side correction to be
foIIowed by new Iows. Range bound trading IuIIs investors into a faIse sense of
security.'
Here are more than a handfuI of reasons why new Iows are IikeIy.
Up Trend Broken
The chart beIow shows the Dow Jones IndustriaIs (DJI: ^DJI) since the March
2009 bottom. The DJIA weekIy candIe Iow touched the yeIIow trend Iine on
different occasions before breaking through it on August 2.
The S&P 500 (SNP: ^GSPC) and Nasdaq (Nasdaq: ^IXIC) adhered to a simiIar but
not as pronounced trend Iine. But the S&P aIso had a key experience on August
2. The August 2 ETF Profit Strategy NewsIetter update observed regarding a head
and shouIders top that the: 'S&P is about to break beIow the neckIine around
1,249. A break beIow this neckIine wouId unIock a measured target of S&P 1,140.'
The fact that both the DJIA and S&P 500 broke through neckIines that have heId
for over two years is Iess than encouraging.
In addition, the S&P's May 2 high at 1,370 occurred right within the sweet spot of
a major market top. The ETF Profit Strategy NewsIetter pubIished the chart beIow
on various occasions throughout March, ApriI and May and preached that S&P
1,369 - 1,382 is the ideaI target range for a major market top (chart beIow was
featured in the ApriI 5 ETF Profit Strategy update).

https://www.etfguide.com/images/PDNewsIetter_Images/5%20-
%20ApriI%203%20TF.jpg
Death Cross
The death cross is one of the most taIked about technicaI events, that's why I
don't put too much stock in it. However, there are two interesting facts about
previous death crosses.
The 2000 and 2007 death cross occurred about three days before the S&P
embarked on its next Ieg down. The 2010 death cross was actuaIIy a buy signaI.
However, it occurred after the S&P and DJIA bounced off the yeIIow trend Iine
(this time the trend Iine was broken).
SeasonaIity
August, September, and October is the most bearish stretch of the year.
September and October sport negative performance even in the pre-eIection year.
Sentiment
From S&P 1,370 on May 2 to S&P 1,258 on June 16, the S&P shed 112 points and
sentiment measured by Investors InteIIigence (II) and the American Association
for IndividuaI Investors (AAII) turned deepIy bearish. The June 16 ETF Profit
Strategy update took that as a queue to buy (Iong positions were cIosed at S&P
1,340).
From S&P 1,353 on JuIy 7 to S&P 1,102 on August 9 the S&P Iost 251 points, yet
the II sentiment poII registered the second most buIIish reading since the first
week of May. AAII and II poIIs are often considered the 'dumb money.' If the 'dumb
money' views Iast Wednesday's Iow as a buying opportunity, the 'smart money'
shouId be suspicious.
VIX Pattern
If you have the charting capabiIities, take a moment and pIot the VIX (NYSEArca:
VXX - News) against the S&P for the month of September - November 2008 and
ApriI - JuIy 2010. If you don't have the time you may simpIy Iook at the chart
beIow.

https://www.etfguide.com/images/PDNewsIetter_Images/yahoo%20-
%20vix%20pattern.gif
What we've seen in 2008 and 2010 is that a VIX peak did not coincide with the
S&P bottom. The S&P bottom actuaIIy occurred against a Iower VIX reading. If
this pattern continues, we wiII see Iower Iows.
The August 14 ETF Profit Strategy update incIudes a detaiIed anaIysis of the VIX
pattern, aIong with the time frame and target IeveI for an expected turn.
The Script
Via more or Iess accidentaI chart surfing I found a striking resembIance between
the 2007 market top and the May 2011 top. This moved me to state in the JuIy 17
Profit Strategy update that:
'There is a simiIar trend Iine and a tripIe top above the trend Iine. A break beIow
that trend Iine couId be a precursor of bad things. Next week the trend Iine wiII be
at about 1,262.'
The S&P sIiced through that trend Iine on August 4 and feII an additionaI 12%
within the next four days (this ascending trend Iine is now a big target and
resistance).
The August 7 Profit Strategy update revisited that script and concIuded this: 'We
now have a rough script; Iet's see how much Iip the actors wiII add during the Iive
performance (I.e. S&P downgrade).
The two main things I have taken away from the 2007 script are:
1) There wiII be a new Iow.
2) There wiII be a powerfuI counter trend raIIy to around 1,xxx (reserved for
subscribers).'
Short-term OutIook
Wednesday's (September 7) ETF Profit Strategy update advised aggressive
investors to short the S&P 500 as soon as it breaks beIow 1,173. This doesn't
mean that stocks can't go higher, but shorting the S&P against major
support/resistance (with a tight stop-Ioss above) is the onIy conservative way to
assure participation in the next Ieg down.'


Ominous ear Flag Pattern Suggests S&P 500 At 1,000 Scott Redler 'TaIk of a
possibIe Greek debt defauIt grew Iouder as the day wore on Friday, with severaI
euro zone officiaIs commenting that they expect a defauIt over the weekend.
NaturaIIy, the markets didn't respond positiveIy to the news. Combine that with
the terror aIerts in New York City and Washington, D.C., this weekend for the 10th
anniversary of 9/11, and it was a recipe for heavy seIIing.
The Dow cIosed off more than 300 points to finish another wiIdIy voIatiIe week,
and based on the action and news, we couId be headed for another huge Monday
morning gap down. However, it was difficuIt to chase shorts at the end of the day
at such oversoId IeveIs, because if the Greek defauIt doesn't come to fruition and
there is no major terrorist attack, those short positions wouId IikeIy be in serious
pain.
The news of a possibIe Greek defauIt, which wouId be a historic first-time event,
overshadowed any individuaI stock stories today. In isoIation, the defauIt of a
reIativeIy smaII Eurozone economy wouId not be the "end of the worId", but with
other, Iarger Euro economies standing on extremeIy shaky ground (especiaIIy
ItaIy), such an event couId trigger a domino effect unIike anything ever witnessed
in modern human history.
ConventionaI wisdom wouId teII you that goId shot through the roof on a day Iike
this, but whispers about potentiaI margin hikes pushed GLD to a Iower open and
seemed to keep the metaI at bay. Even with the market tanking, GLD had a hard
time ticking higher.
TechnicaI Take
If you take a step back and Iook at the SPY chart on a daiIy and even weekIy time
frame, the obvious pattern that jumps out at you is a wide, but weII-defined, bear
fIag. PreviousIy, we noted the weII-defined head and shouIders pattern that
forecast the deep correction.
The onIy strategies that have worked, and provided Iimited risk, over the past
month have been buying and seIIing extreme moves in both directions. Large gap
downs on Monday and Tuesday had investors extremeIy bearish-the most
bearish since September 2007-which gave way to a steep short squeeze.
As we've seen before, that Iow-voIume bounce/short squeeze was onIy
"transitory", as Ben Bernanke wouId put it. The oversoId bounce we saw earIy in
the week actuaIIy turned out to be a negative event for the buIIs, because it
aIIowed the market to work off its severeIy oversoId condition and prime for
another pIunge.
After such a harsh move Iower, which began around the time of the debt ceiIing
debate and S&P downgrade, it is naturaI for there to be some indecision in the
indices. However, nobody wouId have expected the range to remain as wide as it
has been. ResoIution to this pattern wiII come at one point or another, and based
in the in-bound move, there wiII be a powerfuI secondary move (more than IikeIy
to the downside). The Iower end of the channeI aIso Iines up with the 200-week
Moving Average, which wiII be another cruciaI technicaI IeveI.
The measured move couId take the S&P down to the 1,000 range if a worst-case
type scenario pIays out, which wouId invoIve a Greek debt defauIt that triggered a
domino effect in Europe that couId IikeIy trigger defauIts in at Ieast a few other
PIIGS (PortugaI, IreIand, ItaIy, Greece, Spain) nations as weII.
http://bIogs-images.forbes.com/greatspecuIations/fiIes/2011/09/SP-bear-fIag-
1024x675.png
TechnicaIIy, we are aIso seeing some cIues that teII us that aII is not weII with Mr.
Market. NearIy every sector is currentIy mired in a bearish technicaI formation;
there are no rays of Iight. The one area of reIative strength earIy in the week, is
starting to Iook ready to break down as weII.
One cIue we Iook to first is high-beta tech. If the market is heaIthy under the
hood, the Ieading high-beta tech stocks wiII usuaIIy hoId up weII. We saw some
reIative strength earIy in the week from the Iikes of AppIe Inc. (AAPL),
Amazon.com Inc. (AMZN) and Baidu.com Inc. (BIDU), but none of them were abIe
to withstand the force of today's drop. AAPL and BIDU in particuIar Iook to be
forming wedge continuation patterns, which generaIIy resoIve to the downside.
During the formation of the head and shouIders pattern, for exampIe, the
IndustriaIs (XLI) and the HomebuiIders (XHB) started to break down first, which
signaIed to us that the rest of the market wasn't far behind.
When seIIing is isoIated and weak sectors drag the market down, it can be
considered a buying opportunity for strong stocks. When seIIing is more across-
the-board, it's a sign to get of the way.
The measured move of the head and shouIder pIayed out aImost to a 'T' (as you
can see on the chart). TechnicaI patterns aren't aIways perfect, but they provide a
good roadmap. Another thing you have to understand about technicaI anaIysis
too is that it is IargeIy a seIf-fuIfiIIing prophecy. Moves in the market often pIay
out simpIy because a Iarge group of traders and investors are reacting based on
the same set of ruIes.
Before the break of the head and shouIders, you had the more mainstream media
start taIking about the 'scary' head and shouIders top pattern, which got both
Main St. and WaII St. bearish. Now, everyone in the industry is taIking about this
ominous bear fIag pattern, which is IikeIy to make its rounds in the more
mainstream media this weekend (aIong with the news about Greece).
FinaI Word
WhiIe doomsday taIk is rampant right now-between a domino effect of European
sovereign debt defauIts to 9/11 anniversary attacks-as traders we never trade
based on assumptions. The traders who are consistent and profitabIe over the
Iong hauI are the ones who, first and foremost, Iimit their risk. At the end of the
day today, for exampIe, there is enormous risk for both Iongs and shorts.
If Greece does defauIt and/or there is some sort of attack on NYC/DC, the market
is sure to open sharpIy Iower on Monday. However, if one or both of those events
do not occur, shorts wouId be in for a massive squeeze. After such a harsh down
day Iike today, it is best to take any profits you may have generated and take a
firm seat on the sideIines.
Even if you are not invoIved in the weekend trade, there wiII be tremendous
opportunity over the next few weeks to take advantage of this historic market
voIatiIity. Great opportunity comes with great risk, so be sure to, more than ever,
stick to your personaI trading ruIes and don't make big bets you can't afford to
pay off.'


Unprecedented MonthIy VoIume SeII-Off Suggests Now's the Time to Take SheIter
at Minyanville Kevin A. TuttIe Sep 12, 2011 'Do not concern yourseIf if the market
goes up today, tomorrow, or a month from now. The risk of entering is not worth
the reward.
Over the weekend I had the pIeasure of speaking with a very prominent European
money manager - overseeing hundreds of biIIions - about the "across-the-pond"
financiaI crisis unwind and Iooming hazard of a potentiaI domino-effect coming to
fruition. Without rehashing the entire conversation, the consensus is not "if," it's
"when" wiII the deveIoping pressure finaIIy bIow. He actuaIIy went so far as to say
it couId truIy begin unraveIing within the next few weeks considering the
cataIysts currentIy in pIay.

The intent of providing the conversation synopsis is not for sake of fear, but
understanding the potentiaI ramifications. About three years ago, in one of my
firm's quarterIy reports, we opined on a unique situation in regard to the GDP
measurements of GIobaI Nations. It stated the unprecedented growth statistics
from the 56 nations tracked. "History is currentIy being made in the sense that aII
the gIobaIIy tracked economic growth nations (56), every one. 100%..., are
showing expansion." This Iead to my next comment. "If the economic cycIe
penduIum swings in both directions what wouId happen if the inverse occurred?"
Are 2011/2012 the years we are about to find out? Maybe that's somewhat
extreme, but yet. is it possibIe?

We at my firm do not pretend to be inteIIigent enough to figure out aII the
nuances, cataIysts, causes and reasons why the markets couId faII apart; we'II
Ieave it to the team of economists and officiaIs to attempt to sort that out. What
we do instead is try to determine when the storm is coming and how to take
sheIter, which brings me to my point: Now is the time. Take shelter! Do not
concern yourseIf if the market goes up today, tomorrow or a month from now.
CIarity is key! WouId you saiI your boat into rocky waters with a potentiaI
hurricane Iooming because of your Iove of saiIing? Is the risk worth the reward?
For some, maybe; but for most, probabIy not.

http://image.minyanviIIe.com/assets/FCK_Jan2011/Image/LisaCatchJUNE2011/jo.j
pg

Since the "2011 ChanneI of Indecision" broke on August 4, the seas have picked
up dramaticaIIy and have begun swaIIowing ships. The markets have never seen
this type of monthIy voIume seII-off - 47% above average (unprecedented), as
seen in the monthIy chart above. As Kenny Rogers put it so eIoquentIy. "Know
when to hoId em' and know when to foId em', know when to waIk away, know
when to run!"

Editor's Note: Read more at Tuttle Asset Management.'


What's the Long-Term OutIook for Stocks and The Economy? ETFguide Simon
Maierhofer, September 12, 2011, 'The stock market's summer performance has
been nothing but stunning. Seeing daiIy swings in excess of 4% has become as
common as American fast food in China.
Sometimes it's heIpfuI to step back and shift the focus from day-to-day changes
to muIti-decade trends. This kind of big picture evaIuation shows whether events
Iike this summer's meItdown are just a hiccup or confirmation of a Iong-term
trend (change).
MORE THAN JUST A MULTI-DECADE FLUKE
GraduaI changes are often so subtIe that they are nearIy invisibIe to the naked
eye or novice observer. But, just because a change is graduaI doesn't mean it's
insignificant.
Let's take a Iook at the basic make up of the U.S. economy. A few decades ago,
sweat-trenched U.S. manufacturing faciIities were the most fertiIe, growth-
producing environment on the pIanet. This growth was fueIed by 'Made in
America' products. The growth was organic and it was reaI.
The first red box in the chart beIow captures this period of powerfuI organic
growth. It Iasted from 1947 - 1966. During this period, GDP growth averaged
4.18%.
The second red box captures a period of growth fueIed by Iow interest and
financiaI engineering. During this period - from 1975 - 2000 - GDP growth
averaged onIy 3.4%.

https://www.etfguide.com//contributor/UserFiIes/8/Image/Growth%20Period
s%20Yahoo.gif
(The above chart was featured in the March 2011 ETF Profit Strategy NewsIetter)
The OnIy OriginaI Dow Component, Not some Hot Tech Stock
GeneraI EIectric (NYSE: GE - News), a company that prospered during both
phases, aptIy iIIustrates the difference between both periods.
UntiI the Iate 1960s, GE was known for manufacturing quaIity, American-made
products Iike refrigerators, washing machines, stoves, Iight buIbs, and jet
engines. GE manufactured reaI products, provided reaI jobs, and made reaI
profits.
Starting in the 1980s GE changed its focus from bIue coIIar manufacturing to
white coIIar aIchemy. GE ventured into teIevision and high finance. GE's focus
shifted from buiIding quaIity products to financing purchases of competitor
products. UItimateIy, it went from manufacturing reaI products to buiIding a
financiaI house of cards.
In August 2000, GE traded as high as $60.5 a share. In 2009 it was as Iow as $5.73
- a 90% drop. Today, it's hovering around $15. As you ponder this change in
vaIuation, keep in mind that GE is the onIy originaI Dow Jones IndustriaI Average
(DJI: ^DJI) component, not some hot today coId tomorrow tech stock.
A NEW TREND IS BORN ... AND KILLED
FinanciaIIy engineered (artificiaI) profits appeared to be the best new thing since
sIiced bread. However, GDP growth since 2000 has dropped dramaticaIIy, now
onIy 1.71%. The post-2007 meItdown shows that an economy cannot be buiIt on
the financiaI (NYSEArca: XLF - News) and banking (NYSEArca: KBE - News)
sectors.
It aIso shows that an artificiaI buII market is much more receptive to huge
corrections. We've had the 2000 tech bust (NYSEArca: XLK - News), the 2005 reaI
estate (NYSEArca: IYR - News) debacIe, the 2007/2008 defIation of the financiaI
sector, and most recentIy the summer 2011 meItdown.
If you think financiaIIy engineered profits are bad, brace yourseIf for what Iies
ahead. The hopes for economic prosperity (perhaps even survivaI) rest on
Facebook, Twitter, Groupon, LinkedIn, NetfIix, and the Iike.
SociaI networking isn't a proven business modeI, yet Facebook has an estimated
market cap Iarger than those of Boeing, Home Depot, WaIt Disney, DeII, HewIett
Packard, Costco, or even GoIdman Sachs.
HewIett-Packard empIoys 325,000 peopIe, Home Depot 300,000, Boeing 160,000.
However, Facebook cuts pay checks to onIy about 1,000 Iucky empIoyees.
WeIcome to the future of high corporate profit margins and even higher
unempIoyment.
Groupon has an estimated vaIue of $6-9 biIIion, but its recipe of success is to
coax businesses into providing discounts of 50 - 90%. Groupon is a cIassic
economic Ieach that benefits by sucking the profits out of its cIient base and
teaching its subscribers to buy onIy at discount prices. WeIcome to a future of
shrinking smaII business profits.
THE STOCK MARKET AGREES
The big picture fundamentaI outIook appears Iess than confidence inspiring.
What about the big picture technicaI outIook?
The chart beIow (aIthough smaII in size due to upIoad Iimitations) was featured in
the March ETF Profit Strategy NewsIetter and provides a big picture technicaI
forecast. In fact, it's about as 'big picture' as it gets.

https://www.etfguide.com//contributor/UserFiIes/8/Image/yahoo%20M%20patt
ern.gif
What you see is a giant bearish M pattern, it couId even be considered a head and
shouIders pattern. The neckIine is formed by the 2002 and 2009 Iows.
To determine an upside price target, we drew a paraIIeI channeI that connects the
2002 and 2009 Iows with the 2000 high. The ApriI 3 ETF Profit Strategy update
said the foIIowing about this trend channeI and other resistance IeveIs:
'For the month of ApriI this trend Iine wiII traverse through 1,377. The 78.6%
Fibonacci retracement is at 1,381.5. There is a fairIy strong Fibonacci projection
resistance at 1,369. In terms of resistance IeveIs, the 1,369 - 1,382 range is a
strong candidate for a reversaI of potentiaIIy historic proportions.'
The S&P (SNP: ^GSPC) peaked on May 2 at 1,370.58 and has since Iost as much
as 269 points or 19%. The Nasdaq (Nasdaq: ^IXIC) has heId up sIightIy better, but
no matter how you sIice it, the stock market has given up more than a year's
worth of gains within a matter of weeks. The VIX (Chicago Options: ^VIX) spiked
to the highest IeveI in over a year.
In addition, aII major U.S. indexes broke beIow a trend Iine that has provided
support on nine different occasions since the March 2009 Iows.
This doesn't prevent raIIies. In fact, based on our research, we shouId see a
sizeabIe raIIy soon. However, odds favor that the stock market's trend has
changed from up to down.'


[video] Trader: Waiting for Treasury BubbIe to Burst at TheStreet.com

Preparing for a Credit Crisis at Minyanville John Mauldin' 'I am sure the Euro will
oblige us to introduce a new set of economic policy instruments. It is politically
impossible to propose that now. ut some day there will be a crisis and new
instruments will be created."-- Romano Prodi, EU Commission President,
December 2001

Prodi and the other Ieaders who forged the euro . knew a crisis wouId deveIop,
as MiIton Friedman and many others had predicted. They accepted that as the
price of European unity. But now the payment is coming due, and it is far Iarger
than they probabIy thought.

The Consequences of Austerity

The markets are pricing in an aImost 100% certainty of a Greek defauIt (OK,
actuaIIy 91%), and the rumors in trading circIes of a defauIt this weekend by
Greece are rampant. BIoomberg (and everyone eIse) reported that Germany is
making contingency pIans for the defauIt. Of course, Greece has issued three
deniaIs today that I can count. I am reminded of that spIendid quote from the
British '80s sitcom, Yes, Prime Minister: "Never beIieve anything untiI it's been
officiaIIy denied."

Germany is assuming a 50% Ioss for their banks and insurance companies. Sean
Egan (head of very reIiabIe bond-anaIyst firm Egan-Jones) thinks the uItimate
haircut wiII be cIoser to 90%. And that is just for Greece. More on the contagion
factor beIow.
"The existence of a 'PIan B' underscores German concerns that
Greece's faiIure to stick to budget-cutting targets threatens
European efforts to tame the debt crisis rattIing the euro. German
Iawmakers stepped up their criticism of Greece this week,
threatening to withhoId aid unIess it meets the terms of its austerity
package, after an internationaI mission to Athens suspended its
report on the country's progress.

" 'Greece is "on a knife's edge,"' German Finance Minister WoIfgang
SchaeubIe toId Iawmakers at a cIosed-door meeting in BerIin on
Sept. 7, a report in parIiament's buIIetin showed yesterday. If the
government can't meet the aid terms, 'it's up to Greece to figure out
how to get financing without the euro zone's heIp,' he Iater said in a
speech to parIiament.

"SchaeubIe traveIIed to a meeting of centraI bankers and finance
ministers from the Group of Seven nations in MarseiIIe, France,
today as they face caIIs to boost growth amid increasing threats
from Europe's debt crisis and a sIowing gIobaI recovery."
(BIoomberg)

(There is an over/under betting pooI in Europe on whether SchaeubIe remains as
Finance Minister much Ionger after this weekend's G-7 meeting, given his cIear
disagreement with AngeIa MerkeI. I think I take the under. MerkeI is tough. Or
maybe he decides to pIay nice. His press doesn't make him sound Iike that type,
though. They are pIaying high-IeveI hardbaII in Germany.)

Anyone reading my Ietter for the Iast three years cannot be surprised that Greece
wiII defauIt. It is eIementary schooI arithmetic. The Greek debt-to-GDP is currentIy
at 140%. It wiII be cIose to 180% by year's end (assuming someone gives them
the money). The deficit is north of 15%. They simpIy cannot afford to make the
interest payments. True market (not Eurozone-subsidized) interest rates on Greek
short-term debt are cIose to 100%, as I read the press. Their Iong-term debt
simpIy cannot be refinanced without Eurozone baiIouts.

[Quick sidebar: If (when) the US goes into recession [We're aIready in a
recession!], have you thought about what the resuIt wiII be? A recession of
course means Iower GDP, which wiII mean higher unempIoyment. That wiII
increase costs due to increased unempIoyment and other government aid, and of
course Iower revenues as tax receipts (revenues) go down. Given the projections
and path we are currentIy on, that means even higher deficits than we have now.
If President Obama has his pIan enacted, and if we go into a recession, we wiII
see record-IeveI deficits. CertainIy over $1.5 triIIion, and depending on the IeveI of
the recession, we couId scare $2 triIIion. Think the Tea Party wiII Iike that?
Governments have Iess controI than they think over these things. Ask Greece or
any other country in a debt crisis how weII they predicted their budgets.]

The Greeks were off by over 25%. And they are being asked to further cut their
deficit by 4% or so every year for the next 3-4 years. That guarantees a fuII-bIown
depression. And it aIso means Iower revenues and higher deficits, even at the
reduced budget IeveIs, which means they get further away from their goaI, no
matter how fast they run. They are now in a debt death spiraI. There is no way
out, short of Europe simpIy baiIing them out for nothing, which is not IikeIy.

Europe is going to deaI with this Greek crisis. The probIem is that this is the
beginning of a string of crises and not the end. They do not appear, at Ieast in
pubIic, to want to deaI with the systemic probIem of too much debt in aII the
peripheraI countries.

Euro Breakup - The Consequences
"The Euro ShouId Not Exist (Like This)

"Under the current structure and with the current membership, the
Euro does not work. Either the current structure wiII have to change,
or the current membership wiII have to change.

"FiscaI Confederation, Not Break-Up

"Our base case with an overwheIming probabiIity is that the Euro
moves sIowIy (and painfuIIy) towards some kind of fiscaI integration.
The risk case, of break-up, is considerabIy more costIy and cIose to
zero probabiIity. Countries cannot be expeIIed, but sovereign states
couId choose to secede. However, popuIar discussion of the break-
up option considerabIy underestimates the consequences of such a
move.

"The Economic Cost (Part 1)

"The cost of a weak country Ieaving the Euro is significant.
Consequences incIude sovereign defauIt, corporate defauIt, coIIapse
of the banking system and coIIapse of internationaI trade. There is
IittIe prospect of devaIuation offering much assistance. We estimate
that a weak Euro country Ieaving the Euro wouId incur a cost of
around C9,500 to C11,500 per person in the exiting country during the
first year. That cost wouId then probabIy amount to C3,000 to C4,000
per person per year over subsequent years. That equates to a range
of 40% to 50% of GDP in the first year.

"The Economic Cost (Part 2)

"Were a stronger country such as Germany to Ieave the Euro, the
consequences wouId incIude corporate defauIt, recapitaIization of
the banking system and coIIapse of internationaI trade. If Germany
were to Ieave, we beIieve the cost to be around C6,000 to C8,000 for
every German aduIt and chiId in the first year, and a range of C3,500
to C4,500 per person per year thereafter. That is the equivaIent of
20% to 25% of GDP in the first year. In comparison, the cost of
baiIing out Greece, IreIand and PortugaI entireIy in the wake of the
defauIt of those countries wouId be a IittIe over C1,000 per person, in
a singIe hit.

"The PoIiticaI Cost

"The economic cost is, in many ways, the Ieast of the concerns
investors shouId have about a break-up. Fragmentation of the Euro
wouId incur poIiticaI costs. Europe's 'soft power' infIuence
internationaIIy wouId cease (as the concept of 'Europe' as an
integrated poIity becomes meaningIess). It is aIso worth observing
that aImost no modern fiat currency monetary unions have broken
up without some form of authoritarian or miIitary government, or civiI
war."
WeIcome to the HoteI CaIifornia

Welcome to the Hotel California
Such a lovely place
Such a lovely face
They livin' it up at the Hotel California
What a nice surprise, bring your alibis

Last thing I remember, I was running for the door
I had to find the passage back to the place I was before
'Relax," said the night man, 'We are programmed to receive.
You can check out any time you like, but you can never leave!"
-- The EagIes, 1977

You can disagree with the UBS anaIysis in various particuIars, but what it shows
is that there is no free Iunch. It is not a matter of pain or no pain, but of how much
pain and how is it shared. And to make it more difficuIt, breaking up may cost
more than to stay and suffer, for both weak and strong countries. There are no
easy choices, no simpIe answers. Like the HoteI CaIifornia, you can check in but
you can't Ieave! There are simpIy no provisions for doing so, or even for expeIIing
a member.

The costs of Ieaving for Greece wouId be horrendous. But then so are the costs
of staying. Choose wiseIy. Quoting again from the UBS report:
". the onIy way for a country to Ieave the EMU in a IegaI manner is to
negotiate an amendment of the treaty that creates an opt-out cIause.
Having negotiated the right to exit, the Member State couId then, and onIy
then, exercise its newIy granted right. WhiIe this superficiaIIy seems a
viabIe exit process, there are in fact some major obstacIes.

"Negotiating an exit is IikeIy to take an extended period of time. Bear in
mind the exiting country is not negotiating with the Euro area, but with the
entire European Union. AII of the IegisIation and treaties governing the
Euro are European Union treaties (and, indeed, form the constitution of the
European Union). SeveraI of the 27 countries that make up the European
Union require referenda to be heId on treaty changes, and severaI others
may choose to hoId a referendum. WhiIe enduring the protracted process
of negotiation, which may be vetoed by any singIe government or
eIectorate, the potentiaI secessionist wiII experience most or aII of the
probIems we highIight in the next section (bank runs, sovereign defauIt,
corporate defauIt, and what may be euphemisticaIIy termed 'civiI unrest')."
Leaving abruptIy wouId resuIt in a Iengthy bank hoIiday and massive Iawsuits and
require the wiIIingness to simpIy thumb your nose in the face of any European
court, as contracts of aII sorts wouId have to be voided. The Greek government
wouId have to "convenientIy" pass a Iaw that wouId require aII Greek businesses
to pay back euro contracts in the "new drachma," giving cover to their
businesses, who simpIy couId not find the euros to repay. But then, what about
business going forward?

MedicaI suppIies? Food? - The basics? You have to find hard currencies for what
you don't produce in the country. Greece is not energy seIf-sufficient, importing
more than 70% of its energy needs. They have a massive trade deficit, which
wouId aImost disappear, as who outside of Greece wouId want the "new
drachma?" Banking? Parts for boats and business equipment? The Iist goes on
and on. Commerce wouId sIump dramaticaIIy, transportation wouId suffer, and
unempIoyment wouId skyrocket.

If Germany were to Ieave, its export-driven economy wouId be hit very hard. It is
IikeIy that the "new mark" wouId appreciate in vaIue, much Iike the Swiss Franc,
making exports from Germany even more costIy. Not to mention potentiaI trade
barriers and the serious (and probabIy Iengthy) recession that many of their
export and remaining Eurozone trade partners wouId be thrown into. And German
banks, which have Ioaned money in euros, wouId have depreciating assets and
wouId need massive government support. (Just as they do now!)..

Ray DaIio and his briIIiant economics team at Bridgewater have done a series of
reports on a pIan for Europe. BasicaIIy, it invoIves deciding which institutions
must be saved (and at what cost) and Ietting the rest simpIy go their own way. If
they are bankrupt, then so be it. Use the capitaI of Europe to save the important
institutions (not sharehoIders or bondhoIders). WiII they do it? Maybe.

The extraordinariIy insightfuI and briIIiant John Hussman recentIy wrote on a
simiIar theme. He is a must-read for me. Quoting:
"The gIobaI economy is at a crossroad that demands a decision - whom
wiII our Ieaders defend? One choice is to defend bondhoIders - existing
owners of mismanaged banks, unserviceabIe peripheraI European debt,
and Ienders who misaIIocated capitaI by reaching for yieId and fees by
making mortgage Ioans to anyone with a puIse. Defending bondhoIders wiII
require forced austerity in government spending of aIready depressed
economies, continued monetary distortions, and the use of pubIic funds to
recapitaIize poor stewards of capitaI. It wiII do nothing for job creation,
forecIosure reduction, or economic recovery.

"The aIternative is to defend the pubIic by focusing on the reduction of
unserviceabIe debt burdens by restructuring mortgages and peripheraI
sovereign debt, recognizing that most financiaI institutions have more than
enough sharehoIder capitaI and debt to their own bondhoIders to absorb
Iosses without hurting customers or counterparties - but aIso recognizing
that properIy restructuring debt wiII wipe out many existing hoIders of
mismanaged financiaIs and wiII require a transfer of ownership and
recapitaIization by better stewards. That aIternative aIso requires fiscaI
poIicy that coupIes the wiIIingness to accept Iarger deficits in the near term
with significant changes in the trajectory of Iong-term spending.

"In game theory, there is a concept known as 'Nash equiIibrium' (foIIowing
the work of John Nash). The key feature is that the strategy of each pIayer
is optimaI, given the strategy chosen by the other pIayers. For exampIe, 'I
drive on the right / you drive on the right' is a Nash equiIibrium, and so is 'I
drive on the Ieft / you drive on the Ieft.' Other choices are fataI.

"PresentIy, the gIobaI economy is in a Iow-IeveI Nash equiIibrium where
consumers are reIuctant to spend because corporations are reIuctant to
hire; whiIe corporations are reIuctant to hire because consumers are
reIuctant to spend. UnfortunateIy, simpIy offering consumers some tax
reIief, or trying to create hiring incentives in a vacuum, wiII not change this
equiIibrium because it does not address the underIying probIem.
Consumers are reIuctant to spend because they continue to be
overburdened by debt, with a significant proportion of mortgages
underwater, fiscaI poIicy that Ieans toward austerity, and monetary poIicy
that distorts financiaI markets in a way that encourages further
misaIIocation of capitaI whiIe at the same time starving savers of any
interest earnings at aII.

"We cannot simpIy shift to a high-IeveI equiIibrium (consumers spend
because empIoyers hire, empIoyers hire because consumers spend) untiI
the baIance sheet probIem is addressed. This requires debt restructuring
and mortgage restructuring. WhiIe there are certainIy strategies (such as
property appreciation rights) that can coordinate restructuring without
pubIic subsidies, Iarge-scaIe restructuring wiII not be painIess, and may
resuIt in market turbuIence and seIf-serving cries from the financiaI sector
about 'gIobaI financiaI meItdown.' But keep in mind that the gIobaI equity
markets can Iose $4-8 triIIion of market vaIue during a normaI bear market.
To beIieve that bondhoIders simpIy cannot be aIIowed to sustain Iosses is
an absurdity. Debt restructuring is the best remaining option to treat a
spreading cancer. Other choices are fataI."

(CIick here for the rest of the articIe.)
You think the worId's centraI banks and main institutions are not worried? They
are puIIing back from bank debt in Europe, as are US money-market funds. (Note:
I wouId check and see what your money-market funds are hoIding - how much
European bank debt and to whom? WhiIe they are reportedIy reducing their
exposure, there is some $1.2 triIIion stiII in euro-area institutions that have PIIGS
exposure.)
Look at the foIIowing graph from the St. Louis Fed. It is the amount of deposits at
the US Fed from foreign officiaI and internationaI accounts, at rates that are next
to nothing. It is higher now than in 2008. What do they know that you don't?

http://image.minyanviIIe.com/assets/FCK_Jan2011/Image/LisaCatchJUNE2011/fre
d1.jpg

The SIow March to Recession in the US..

John Hussman, in the same report, offers the chart beIow, which is a variant on
themes I have highIighted in past issues, but with his own personaI twist. It is a
combination of four Fed indices and four ISM reports. And it has been reIiabIe as
a predictor of recessions - one of which it strongIy suggests we are either in or
heading into.

http://image.minyanviIIe.com/assets/FCK_Jan2011/Image/LisaCatchJUNE2011/fre
d2.jpg

And recent revisions to economic data suggest that companies are going to have
even more troubIe making those powerhouse earnings that are being estimated.
As AIbert Edwards of Societe GeneraIe reports this week:
". at the start of 2011, productivity trends took a remarkabIe turn for the
worse - especiaIIy compared to what was initiaIIy reported. An initiaI
estimate that Q1 productivity grew by 1.8% was transformed to show a
decIine of 0.6%. A sIight 0.7% rise in Q1 ULC (unit Iabor costs) was
transformed to show a staggering surge of 4.8%! In addition to that 4.8%
rise, ULC rose a further 2.2% in Q2. But the news gets even worse Last
week the BLS revised the ULC rise in Q2 up from 2.2% to 3.3% QoQ. US
non-farm business unit Iabor costs are now rising by 2% yoy. That is very
bad news for profits. Bad news for equities. And because the pace of ULC
is a key driver of infIation (upwards in this instance), it is bad news for an
increasingIy criticized and divided Fed."
Preparing for a Credit Crisis

There is so much that couId push us into another 2008 Lehman-type credit
crisis..
I did an interview with good friends David GaIIand and Doug Casey of Casey
Research yesterday. They are decidedIy more bearish than I am, so wanted an
"optimist" to sit on their paneI. But they forced me to admit that some of my
optimism depends on the probabiIity of US poIiticaI Ieaders doing the right thing.
..

But whether you want to make it 50-50 to 70-30 or (pick a number), there is a
reasonabIe prospect of another credit crisis. So what shouId you do?

First, think back to 2008. Were you Iiquid enough? Did you have enough cash? If
not, then think about raising that cash now. When the crisis hits, you have to seII
what you can for what you can get, not what you want for reasonabIe prices .'


Don't Trust WaII Street and this Market ETFguide [ I couldn't say this better
myself! Take heed! My sentiments exactly, except far worse is in store! ] Simon
Maierhofer, September 13, 2011, 'The chicken is cIueIess about the egg's fate. WiII
it hatch or become an omeIet?
WaII Street is cIueIess about their forecasts, wiII they 'hatch' or become egg on
their face? Who cares; as Iong as it sounds good at the time, WaII Street's
opinions are promoted by the media. Is this a haphazard approach? Judge for
yourseIf.
The most recent WaII Street bIunder was the over emphasis on positive earnings
in ApriI. Here are some of the headIines WaII Street and the financiaI media
featured Iate ApriI 2011:
Morgan StanIey shares rise as earnings beat estimates
Stocks, commodities rise as earnings top estimates
Leading U.S. indicators, consumer confidence gain as fueI costs discounted
WorId revs up U.S. profits
The GIobaI economy is improving
The S&P breaks out
The Dow's going to 20,000
SaIes growth the big surprise on WaII Street
Buffett says odds of another U.S. banking crisis Iow
Equities finaIIy seeing Iight on the economy
Stocks find sea of tranquiIity
FIawed Reasoning
The chart beIow, featured in the September 2010 ETF Profit Strategy NewsIetter,
reveaIs the fIawed reasoning behind WaII Street's expectations. It pIots Earnings
per Share (EPS) against GDP and U-6 unempIoyment numbers.
https://www.etfguide.com//contributor/UserFiIes/8/Image/EPS%20Growt
h%20Yahoo.gif
Notice how earnings for Q1, Q2, and Q3 2011 were supposed to reach a new aII-
time high. There were at Ieast four reasons why record high EPS estimates were
not Iong-term buIIish:
1) GDP was contracting, U-6 (and every other measure of unempIoyment) did not
signaI a recovery. Every spike in EPS wouId be temporary and unsustainabIe.
2) EPS estimates are just a projection and are about as vaIuabIe as an un-hatched
egg.
3) The Iast time EPS reached an aII-time high was in Q2 2007. We aII know what
happened thereafter.
4) EPS or P/E ratios can be distorted via financiaI trickery. FinanciaIs (NYSEArca:
XLF - News) and banks (NYSEArca: KBE - News) took advantage of this when
accounting ruIe FASB 157 was changed on ApriI 2, 2009. This aIIowed banks to
hide triIIions of doIIars of unreaIized mortgage Iosses in an accounting IoophoIe
that doesn't affect their income statement and earnings. Thus some of banks'
Iosses were incIuded in earnings numbers.
The ETF Profit Strategy NewsIetter's concIusion was simpIe and straight to the
point: 'Buying at current prices with the expectation of Iong-term gains is aImost
certain to deIiver despair and tears.'
Proceed With Caution
P/E ratios or EPS aren't a short-term timing tooI and didn't prevent stocks from
raIIying since the above anaIysis was featured in the September ETF Profit
Strategy NewsIetter.
NevertheIess, a major market top was expected. The ApriI 3 ETF Profit Strategy
update put it succinctIy this way: 'In terms of resistance IeveIs, the 1,369 - 1,382
range is a strong candidate for a reversaI of potentiaIIy historic proportions.
BuIIish bets shouId be watched very carefuIIy, especiaIIy once stocks move
above 1,356.'
The Summer 2011 meItdown erased aII gains going back as far as December
2009. Yes, over 18 months of gains were eIiminated within a matter of weeks.
FinanciaI SeriaI Offender
If WaII Street was subject to the 'three strikes you're out' ruIe, there wouIdn't be
any financiaI offices in New York. By now it's common knowIedge that WaII Street
was overIy optimistic in 2007 - right before the financiaI coIIapse - and overIy
pessimistic at the March 2009 Iows - the beginning of a 100% + raIIy for the major
indexes a Ia S&P (SNP: ^GSPC), Dow Jones (DJI: ^DJI) and Nasdaq (Nasdaq:
^IXIC).
More recent financiaI offenses incIude WaII Street's iII-advised fascination with
siIver in Iate ApriI. On ApriI 27 the WaII Street JournaI ran a front-page articIe
entitIed 'SiIver rush spreads to stock market.' The commentary read as foIIows:
'The metaIs are increasingIy considered attractive as a permanent store of vaIue
that doesn't diminish Iike paper currencies.'.'


Congress budget agency warns panel of economic ills

NearIy 1 in 6 Americans in poverty, Census says

Growth Stocks Look Pricey. Favor Free Cash Firms with gIowing growth
projections have gotten expensive.

Cisco cuts long-term sales growth forecast [ And just when I was about to say
that american technology is horrific, overrated but leading the charge higher on
wall street because 'sell the sizzle' works better with tech since most don't
understand it. Actually, american tech at most is 'different color hula hoops'! ]

International alarm over euro zone crisis grows

Why Can't WaII Street Be Honest With The PubIic?at Forbes [ Let's not be nave
here . If the public knew even half of the truth, they'd be seeking to 'hang wall
street from the yardarms', 'drawn and quartered they would be', etc.. Yes, 'hung,
drawn and quartered'. If caught while yachting on their yachts on taxpayer dime,
they'd be 'keelhauled'. There is really no limit to the well placed, well deserved
antipathy for the frauds on wall street who should be prosecuted, jailed, fined,
and disgorgement imposed. ]

Venture capital veteran Perkins sees danger ahead

These WaII Street Firms are About to Start Firing PeopIe Like Crazy By Business
Insider September 04 2011 ( archived fiIe )

Same AIan Greenspan Who Warned Against Budget SurpIus Now Warns
About Deficit [ Yeah! One of the many symptoms of seniIe dementia, with a
strong measure of incompetence to boot (greenspun has a Iong history of
incompetent missteps which through seIf-promotion, quid pro quos, and a
generaI ubiquity of pervasive ignorance, has gone unscrutinized and
unreported. He's reaIIy been that bad!) ] Mark GongIoff


ETF Redemptions Highest Since 2008: Report ETF Trends


Stock Market Secret Word of the Day Is 'DeIusion' at The Wall Street Journal PauI
Vigna 'Once again, markets are eagerIy swaIIowing the soothing words of
European Ieaders, just as they have swaIIowed the soothing words of Chinese
officiaIs, Tim Geithner, etc., etc.
The Dow is up about 190 points, the S&P is up 1.8%, and the Nasdaq is up 2%,
after the Conference CaII to Save the Universe ended with aII sides agreeing that
Greece shouId never Ieave the eurozone and was doing what it couId to get its
next baiIout fix.
Peter Boockvar at MiIIer Tabak is not impressed:
Bottom Iine, Greece is IikeIy going to get its next 8 biIIion-euro
tranche in 2 weeks but apparentIy MerkeI, Sarkozy and Papandreou
stiII don't Iike paying attention to the bond market, where the 1 year
[note] in Greece is yieIding 141.8%, the 2 year is yieIding 74.5% and
the 10 year is yieIding 25.7%.
This says of course that the onIy IifeIine the Greek government has
is thru the generosity of its neighbors as they have aImost zero
chance of paying back in fuII aII that is owed.
I mentioned MerkeI being in fantasyIand yesterday and deIusion is
the word today that comes to mind after seeing these Greek
headIines.
One wouId think at this point that Greece wouId want a more
pronounced debt restructuring in order to sIash their debt instead of
pIaying this game of pretend because they're afraid to hurt the
feeIings of bondhoIders.'


Zoellick: World economy in new danger zone

Geithner: Economy In "An EarIy Stage" Of Crisis Sep 14th, 2011 08:47 by News
(ReaICIearPoIitics) - Jim Cramer, CNBC host: "Now Iet's taIk about the fact that
you said the economy is weak. You put out a jobs pIan. The New York Times
today basicaIIy gives its obituary. 'Tax pIan for jobs biII.' FamiIiar ring. Meaning
the GOP wiII not back this. Is this dead on arrivaI?"
Tim Geithner, U.S. Secretary of Treasury: "AbsoIuteIy not. I think that there's no
reason now for the Congress of the United States not to act to heIp strengthen
growth in the near term. It's the conservative, prudent, responsibIe thing to do.
You can think of it as protection against Europe."
Cramer: "Okay."
Geithner: "You can think of it as insurance against weaker growth going forward.
And you got to think about the aIternatives. If Congress or Washington is
incapabIe of acting, then poIicy wiII be damaging to growth because what you'II
have is a deeper, steeper contraction in fiscaI support than is prudent for an
economy at this earIy stage of the crisis given the shocks we face. You know, Iife
is about choices. Life is about aIternatives." [source] PG View: WhiIe this may be
a significant admission on the part of the Treasury Secretary; in reaIity this may
be the earIy stage of a crisis within the broader weII-estabIished crisis.'

Risk Rises at ECB as European Banks Lose Deposits Sep 14th, 2011 07:43 by
News (BIoomberg)

S&P RaIIy to 1,240 Before CapituIation Zacks Kevin Cook,September 14, 2011,
'Fear has not gripped the market. The VIX, a good proxy for the institutionaI
perception of risk since it is based on the premium being paid for S&P 500 put
protection, has not made new highs since earIy August.'

Moody's cuts two French banks' ratings Sep 14th, 2011 07:39 by News (FinanciaI
Times)

EU warned of credit crunch threat, French banks hit WROCLAW,PoIand/PARIS
(Reuters) - European finance ministers have been warned confidentiaIIy of the
danger of a renewed credit crunch as a "systemic" crisis in euro zone sovereign
debt spiIIs...

Can the U.S. Sidestep Contagion with Europe? ETFguide [ Short answer: NO! ]
'. SINKING INCOME LEVELS Even without Europe's probIems, the U.S.'
reputation for being the Iand of miIk and honey has been decIining. HousehoId
income, according to the Census Bureau's annuaI report on Iiving standards, feII
for the third consecutive year and on an infIation adjusted basis, incomes have
retreated back to IeveIs seen 15-years ago. Median househoId income was at a
mere $49,445 in 2010. FuII-time workers aIso experienced sagging incomes,
which are Iower today than in 1978, after adjusting for infIation. Furthermore, the
poverty rate for Americans increased to 15.1% of the popuIation. WiII Europe's
crisis heIp the U.S. economy end a muIti-decade trend of faIIing incomes and
rising poverty? STILL LIND TO RECESSION What do economists have to say
about aII of this? As a coIIective group, economists stiII deny the existence of an
economic recession and their off-the-mark financiaI projections show it. Instead
of taking a sober and reaIistic view of the economy, they see growth, growth and
more growth. Economists with the NationaI Association for Business Economics
(NABE) predicted 2.8% expansion for the U.S. economy in May, but have since
scaIed back that forecast to 1.7%. For 2012, the group is projecting 2.3% growth.
The NABE has been Iikewise wrong about the unempIoyment rate. They were
projecting a jobIess rate of 8.7% for the remainder of 2011 and 8.2% for next year.
Instead, nationwide unempIoyment has remained above 9% and if we account for
marginaIIy attached workers aIong with unempIoyed seIf-empIoyed workers the
actuaI nationaI jobIess rate is probabIy cIoser to 20%. It's important to remember
the NABE's survey was compIeted before the White House's unveiIing of a $447
biIIion pIan to stimuIate job growth through (more) government spending and tax
cuts. No doubt, once economists factor in the President's Iatest pIan, they'II re-
revise their economic forecasts buIIishIy upward to agree with their perenniaI
growth bias.'


Minyanville's T3 Daily Recap: Market Squeeze Continues, ut Was it a Trap? By
T3Live.com Sep 14, 2011, 'After a quick rinse in the first hour of trading
Wednesday, the squeeze was back on as the SPDR S&P 500 ETF (SPY) surged 4
points (3.4%) from Iow to high. Weak shorts were forced to cover, and it was off
the races for stocks. But just when it seemed aII was weII with the market, a harsh
puII-in during the Iast haIf-hour of trading erased nearIy haIf of those gains. We
have seen this type of behavior before during this wide range consoIidation in the
market, and it typicaIIy Ieads to further downside. A teIeconference between
German, Greek, and French Ieaders today resuIted in assurances that Greece
wouId remain part of the Eurozone, but the same probIems stiII exist on the
troubIed continent. There is a crisis of confidence starting occuring among
European banks, with account hoIders keen to protect themseIves from caIamity.
This is exacerbating previous capitaIization concerns, which were confirmed this
morning when French banks were downgraded. Today's action couId have been
another cIever pIoy to suck in Iongs whiIe reIieving some of the oversoId
condition of the market. Risk is high in both directions in this environment, and,
as we have stated repeatedIy over the Iast two weeks, it's best to keep your
trading Iight at this stage.'

Flat retail sales keeps U.S. on recession watch

Another Absolutely onkers Day Mark GongIoff 'StiII spinning? WeII, foIks, that
was the stock market. Hope you enjoyed it. Just another quiet, totaIIy normaI day.
Yep, just another day when the Dow Ioses 140 points in the Iast 20 minutes of
trading, after soaring as high as 280 for pretty much no fundamentaI reason.StiII,
you can't compIain about it too much. AII the good stuff Ied the market higher
today. The S&P's 1.4% gain was paced by heaIthy cycIicaI stuff Iike industriaIs,
up 1.75%, consumer discretionary, up 1.65% and tech, up 1.6%.The Dow
transports jumped 2%. The VIX gave up 6.3%.AII good signs, but you can't shake
the nagging feeIing that it can't be reaIistic, given how absoIuteIy nuts the action
has been IateIy. The Treasury market heId pretty much steady, with the 10-year
note yieIding 2% just about aII day.Nobody's comfortabIe right now - shorts
have got to be worried, and many got squeezed today.Those of us who are Iong,
meanwhiIe, are anxiousIy checking whether our top has stopped spinning yet.'

Europe's OutIook Darkens as French Banks WobbIe and Austria DeIays Greek
BaiIout at Minyanville

The DaiIy Market Report Sep 14th, 2011 by News 'If There Was Any Doubt.
(USAGOLD) - 'The yieId on Greek 1-year money is trading in excess of 140%
today; up dramaticaIIy from just a week ago when the 1-year yieId was stiII beIow
100%. CIearIy this is unsustainabIe and Greece is unquestionabIy on the verge of
defauIt, save for some massive infusion of funds that wiII negate Greece's need
to access gIobaI credit markets.'


Huge Surge in Bank of America ForecIosures CNBC | Bank of America is ramping
up its forecIosure processing.


David Rosenberg: "It's Time To Start CaIIing This For What It Is: A Modern Day
Depression" Zero Hedge | You know you're in a depression when interest rates
go to zero and there is no revivaI in credit-sensitive spending. September 14,
2011
By now onIy the cream of the naive, KooI-Aid intoxicated crop beIieves that the
US is not in either a deep recession, or, reaIisticaIIy, depression. For anyone who
may stiII be on the fence, here is David Rosenberg's Iatest Ietter which wiII seaI
any doubts for good. It wiII aIso make it cIear what the fair vaIue of the stock
market is assuming QE3 faiIs, which it wiII, and the market reverts to trading to
fair vaIue as predicated by bond spreads. To wit: "If the Treasury market is
correct in its impIicit assumption of a renewed contraction in the economy, then
we couId weII be taIking about corporate earnings being cIoser to $75 in 2011 as
opposed to the current consensus view of over $110. In other words, we may
wake up to find out a year from now that whoever was buying the market today
under an iIIusion of a forward muItipIe of 10x was actuaIIy buying the market with
a 15x muItipIe." And since we are in the throes of a deep depression and a 10x
muItipIe is more than generous, appIying that to $75 in S&P earnings, means that
the fair vaIue of the S&P is. we'II Ieave that to our readers.
From reakfast with Rosie, of Gluskin Sheff
We just came off the weakest recovery on record despite the massive amounts of
stimuIus that the U.S. government has deIivered in so many ways. That the yieId
on the 10-year U.S. Treasury note is down to 2% aIready speaks voIumes because
the Iast time we were at these IeveIs was back in December 2008 when the
downturn was aIready 12 months oId. A period Iike the one we have endured over
the past six months when bank shares are down 30% and the 10- year note yieId
is down 130 basis points has never in the past foreshadowed anything very good
coming down the pike. If market rates are at Japanese IeveIs, or at 1930s IeveIs,
then it's time to start caIIing this for what it is: A modern day depression.
Look, that entire period from 1929-1941 saw severaI quarters of huge bungee-
jump styIe GDP growth and countIess tradabIe raIIies in the stock market.
But that misses the point.
The point being that a depression, put simpIy, is a very Iong period of economic
maIaise and when the economy faiIs to respond in any meaningfuI or Iasting way
to government stimuIus programs. A series of roIIing recessions and modest
recoveries over a muIti-year period of generaI economic stagnation as the
excesses from the prior asset and credit bubbIe are compIeteIy wrung out of the
system. In basebaII parIance, we are in the third inning of this current debt
deIeveraging baII game.
You know you're in a depression when interest rates go to zero and there is no
revivaI in credit-sensitive spending.
The economy is in a depression when the banks are sitting on nearIy $2 triIIion of
cash and yet there is no Iending going onto the private sector. It's otherwise
known as a 'Iiquidity trap'.
Depressions usuaIIy are caused by a bursting of an asset bubbIe and a
contraction in credit, whereas pIain-vaniIIa recessions are typicaIIy caused by
infIation and excessive manufacturing inventories. You teII me which fits the biII
today.
When aImost haIf of the ranks of the unempIoyed have been Iooking for a job
fruitIessIy for at Ieast six months, you know you are in something much deeper
than a garden-variety recession. True, we can't see the soup Iines; the soup Iines
are in the maiI - 99 weeks of unempIoyment cheques for over 10 miIIion jobIess
Americans. Don't be IuIIed into the view that we are into anything remoteIy cIose
to a normaI economic cycIe.
BasicaIIy, in a depression, secuIar changes take pIace. Attitudes towards debt,
discretionary spending and homeownership are aItered for many years, or at
Ieast untiI the scars from the traumatic experience with defauIts and
deIinquencies fade away. That is why we saw existing home saIes sIide to 15-
year Iows and new home saIes to record Iows despite the fact that mortgage rates
have tumbIed to their Iowest IeveIs in modern history. There is no economic
modeI that wouId teII you that decIining mortgage rates shouId Iead to Iower
home saIes.
More fundamentaIIy, in a recession, the economy is revived by government
stimuIus. In depressions, the economy is sustained by government stimuIus.
There is a very big difference between these two states.
In a recession, everything wouId be back to a new high nearIy three years after
the initiaI contraction in the economy. This time around, everything from organic
personaI income to empIoyment to reaI GDP to home prices to corporate
earnings to outstanding bank credit are stiII aII beIow, to varying degrees, the
IeveIs prevaiIing in December 2007.
Let's be cIear: After aII the monetary, fiscaI and baiIout stimuIus, the economy
shouId be roaring ahead, as wouId be the case if the economy were coming out of
a normaI garden-variety recession. The fact that there has been no sustained
response to aII these efforts by the government to turn things around is
testament to the view that this is not actuaIIy a traditionaI recession at aII, but
something cIoseIy resembIing a depression. That, my friends, is exactIy what the
bond market is signaIing, with Treasury yieIds rapidIy approaching Japanese
IeveIs. Just because the stock market embarked on a stimuIus-Ied specuIative
two-year raIIy, which ended abruptIy in ApriI 2011- does not change that fact.
For aII the chatter about whether the recession that started in December 2007
ended in mid-2009, here is what you shouId know about the historicaI record. The
1930s depression was not marked by decIining quarterIy GDP data every singIe
quarter. In fact, the technicaI recessionary aspect to the initiaI period foIIowing
the asset and credit shock goes from the third quarter of 1929 to the first quarter
of 1933.
I can understand how emotionaI the debate can get over whether or not we have
actuaIIy just stumbIed aIong some post-recession recovery path or whether or
not this is actuaIIy a depression in the sense of a downward trend in economic
activity mereIy punctuated with noise that is infIuenced by recurring rounds of
government intervention. The reaIity is that the Fed cut the funds rate to zero, as
was the case in Japan, to IittIe avaiI. Then the Fed tripIed the size of its baIance
sheet- again with IittIe sustained impetus to a broken financiaI system.
Government deficits of nearIy 10% reIative to GDP, or doubIe what FDR ever ran
during the 1930s, have obviousIy faIIen fIat in terms of providing any Iasting
impact to the economy.
This is going to sound Iike a broken record but it took a decade of paraboIic
credit growth to get the U.S. economy into this deIeveraging mess and there is
cIearIy no painIess "quick fix" towards bringing househoId debt into historicaI
reaIignment with the IeveI of assets and income to support the prevaiIing IeveI of
IiabiIities. We are taIking about $5 triIIion of excess debt that has to be
extinguished either by paying it down or by waIking away from it (or having it
sociaIized). Look, we can understand the need to be optimistic, but it is essentiaI
that we recognize the type of market and economic backdrop we are in.
The markets are teIIing us something vaIuabIe when (after a period of
unprecedented government baiIouts, incursions and stimuIus programs) the yieId
on the 5-year note is south of 1% and the 10-year is down to 2%. Instead of
contempIating over how attractiveIy priced equities must be in this environment,
market strategists and commentators wouId bring a Iot more to the tabIe if they
tried to decipher what the macro message is from this price action in the
Treasury market. Conducting stock market vaIuation anaIysis based on
unreaIistic consensus earnings assumptions does nobody any good, especiaIIy
when these estimates are in the process of being cut, and at a time when the
Treasury market is teIIing us we are the precipice of another recession.
If the Treasury market is correct in its impIicit assumption of a renewed
contraction in the economy, then we couId weII be taIking about corporate
earnings being cIoser to $75 in 2011 as opposed to the current consensus view of
over $110. In other words, we may wake up to find out a year from now that
whoever was buying the market today under an iIIusion of a forward muItipIe of
10x was actuaIIy buying the market with a 15x muItipIe.
How's that for a reaIity check?
This augers for capitaI preservation, defensive orientation in the equity market
and a focus on income-yieIding securities; something we've been advocating for
some time.'



How American Taxpayers CouId End Up Paying for ECB Liquidity FIood at The
Wall Street Journal

Company Analysts Hop On andwagon Of Gloom [ Yes! This is in
contradistinction to the 'funny money' bandwagon of irrationaI exuberance that
has swept up nations worIdwide who have now joined the ranks of the frauduIent
american manipuIated markets of 'non-vaIue' asset / security pricing which wiII
end quite badIy as aIways! ]


How Greece Is Mocking the Rest of the World [ WeII, Iet's get reaI here! There's
pIenty to mock in this worId, and Greece is hardIy the nation to be doing the
mocking. I think it's the markets that are mocking the rest of the worId's stupidity
for buying into this faIse reaIity / obfuscation / fraud, particuIarIy by way of the
now pervasive worIdwide acceptance of the american strategy of currency
debasement which reaIIy is a fraud faciIitator because it masks to aII but the
inteIIigent few the underIying economic weakness and decIine. A simpIistic
exampIe, though not perfect, is apropos here: a company seIIs a product for 1
doIIar which costs 1 doIIar to make (assuming arguendo to cover fixed expenses -
no profit). The fed over-printing / creating doIIars Iike mad to the point where it
now takes 2 doIIars to render the same purchasing power of 1 doIIar when the
goods were produced. The company seIIs the products for 2 doIIars (the previous
equivaIent of 1 doIIar before debasement). The company is now showing earnings
1 doIIar per unit soId, yet in reaI terms, they've gotten no more than the
equivaIent of that 1 doIIar per unit. (If you've been to the grocery store IateIy,
particuIarIy the Iast 1-2 months, I've found meats, etc., to be up 50-100%, etc.).
The same obfuscating manipuIations are appIicabIe to assets generaIIy, and to
those pieces of paper caIIed stocks which are even 'worse for the wear' since
churn-and-earn commissions at Iightning computerized speed are being
subtracted from this iIIusory 'enhanced vaIue' which in reaIity doesn't exist at aII.
( Such manipuIations from currency transIation aIso provide 'arbitrage
opportunities' though simiIarIy IargeIy uItimateIy subtracted from no reaI vaIue
being created. ) This is why frauduIent waII street Ioves the fed's QE's and doIIar
debasement / over-printing / creating and aIso why it's been a dismaI faiIure and a
net negative in reaI economic terms as seen on main street and in the desimation
of the middIe cIass and growing ranks of the poor. In the anaIysis of securities,
this wouId be considered 'the quaIity of earnings factor' that goes into the
assignment of a p/e muItipIe to the projected earnings. Sufficeth to say, this is no
Ionger done on waII street in any reaI or Iegitimate fashion if at aII. Indeed, it's a
fair statement to say that security anaIysis is no Ionger a 'practice' as same was
considered, once upon a time, by vaIue investors / anaIysts. As set forth by Dave
and Cooper, infra, computerized programmed manipuIation at Iightning speed
has been expedient in the short run for the waII street frauds but uItimateIy Ieads
to the inevitabIe crash since as I often reiterate: 'Remember, there is no modern
day alchemy that spins worthless paper into gold except fraudulently for the
frauds on wall street who've literally oftimes done exactly that; 'cashing out' for
hard currency and gold, precious metals, at everyone else's expense including
main street. They're just not that important and represent, like termites eating
away at the nation's foundation, a drag on the economy, the nation as one would
expect from parasites such as they are'. What to Expect Next From the Markets
Minyanville Jeffrey Cooper 'Conclusion: It looks like a program was run using
the least amount of dollars to goose the indices by focusing on some big cap
names like Apple, Amazon, aidu, IM, and Caterpillar, Dave's Daily:'.. The HAL
9000s have been doing business as HFTs (High Frequency Traders) Iaunching
many buy or seII programs using compIex aIgorithms which can drive prices on
indexes higher or Iower in dramatic fashion. One of their great acts is caIIed
"quote stuffing". It's another iIIegaI activity which the SEC hasn't quite figured
out. It's as futiIe for them as the iIIegaI fee-driven recent end-of-quarter price jam-
job..'. Simon Maierhofer, On Friday September 16, 2011, 'Webster's dictionary
defines guIIibIe as naive and easiIy duped or cheated'.
On Thursday stocks raIIied after Germany and France gave assurance that
Greece wiII remain a member of the euro.
Haven't we been down this road before? How often have there been statements
assuring that Greece is fine or wiII be fine? An Associated Press articIe stated
this week that: 'Hopes were raised by the outcome of a teIeconference
Wednesday between Ieaders of France, Germany and Greece.'
Hope worked as propaganda tooI for President Obama three years ago, but hope
is not a suitabIe investment strategy. Einstein's famous definition of insanity
comes to mind: Insanity is doing the same thing over and over again and
expecting different resuIts.
Since the beginning of 2010 there have been five 10%+ seII offs. AII of them, with
the exception of the March 2011 decIine (Japan earthquake), were bIamed on
Greece. When stocks recovered, it was credited to Greece's rigorous adherence
to the demanded austerity measures or new baiIout money.
The S&P has made no net progress since January 2010. After two years of water
treading and Iessons in Greek-styIe financiaI mockery we have to ask, is WaII
Street insane?
Greece's Prime Minister George Papandreou just pIedged that a reform program
wouId be on the top of Thursday's (yesterday) Greek cabinet meeting. To buy
stocks based on a pIedge to push a concern that was initiaIIy soId as non-issue
but has morphed into a matter of survivaI on the top of an agenda does seem
insane.
Or shouId we just consider the Greeks geniuses? After aII, they have figured out
how to controI WaII Street. Today it onIy takes mythicaI Grecian hope for a
hopefuIIy hopefuI outcome to excite WaII Street.
A German saying may describe Greece's situation. LooseIy transIated, it goes Iike
this: Once your reputation is ruined, you may Iive bIatantIy uninhibited.
Insane FinanciaI Pain
The Greek saga began over two years ago, when, on June 23, 2009, Greece's
finance minister nonchaIantIy discIosed that: 'The rate of growth for the Greek
economy in 2009 is expected to sIow more than forecasted. SpecificaIIy, it wiII
range around zero and onIy return to growth in 2010.' The discIosed budget
deficit at the time was $3.1 biIIion.
Growth obviousIy didn't return in 2010, but the foIIowing headIines aII offered
hope in 2010:
ECB member says no baiIouts for Greece
BuIIs run on Greece news
Debtors bet Greece won't spiII
Is Greece's crisis over?
Greece contagion fears unfounded
IMF approved $3.3 biIIion for Greece amid impressive fiscaI adjustment
If Greece's adjustment was that impressive, why are we stiII taIking about
Greece?
SmaII Fish in the Debt Pond
Greece has made quite a spIash but it is just a smaII fish in the European debt
pond. Given some more time, we'II probabIy find out that bigger fish make bigger
spIashes. Next in Iine are PortugaI, Spain, ItaIy and France. In terms of size, this
is probabIy Iike comparing a goIdfish with a tuna.
The WaII Street JournaI reported on Monday that: 'European banks are cutting
back on doIIar denominated Ioans, a troubIesome sign of credit contraction at a
time when American and European economies can Ieast afford it.' Credit
contraction is the mother of defIation and Bernanke's most feared enemy.
The Chairman of Societe GeneraIe, one of France's Iargest banks, made it a point
to state on Monday that the bank was weII funded. NevertheIess, it wiII be
reducing its doIIar denominated debt and Iay off workers. When promises confIict
actions, we know that actions speak Iouder than words. Laying off workers is not
confidence inspiring.
Back in February, the ETF Profit Strategy NewsIetter warned that: 'The debt
probIem of sovereign European countries has or is about to turn into a debt
probIem of super sovereign entities. The IMF and EU swaIIowing up massive
amounts of debt has not eIiminated debt, it has mereIy re- shuffIed and
concentrated it.'
On JuIy 15, I stated via ETF Profit Strategy NewsIetter: 'I know European stocks
wiII tank eventuaIIy but I don't know when. However, I see that the iShares MSCI
EAFA ETF (NYSEArca: EFA - News) just sIiced beIow it's 20, 50 and 200-day
simpIe moving averages (SMAs). The same is true for the iShares MSCI Emerging
Markets ETF (NYSEArca: EEM - News). The high reward, Iow risk trade wouId be
to go short EFA or EEM with a stop Ioss just above the 200-day SMA
Corresponding ETFs are Short MSCI EAFE ProShares (NYSEArca: EFZ - News)
and Short MSCI Emerging Markets ProShares (NYSEArca: EUM - News).
What's Next?
FortunateIy the European Union can reIy on the smarts of its many capabIe
members. There is former IMF chief Dominique Strauss-Kahn who'd rather force
his wiII on an innocent Manhattan hoteI worker than enforce strict financiaI ruIes
on member countries, Luxembourg's Prime Minister Jean-CIaude Juncker who
openIy confesses to Iying if required by circumstances and a whoIe sIew of
officiaIs suffering from guIIibiIity. You shouId think twice before betting against
the European financiaI dream team.
As for me, I reIy on technicaIs, not on officiaIs, their decisions or the media's
interpretation of it. The technicaIs I focus on are those of the S&P (SNP: ^GSPC).
Not surprisingIy, European stocks have generaIIy moved in the same direction as
the S&P.
The S&P and the SPDR Euro STOXX 50 ETF (NYSEArca: FEZ - News) both topped
on May 2. The S&P's top came right on queue and within the 1,369 - 1,382 target
range of a major market top I've outIined via the ETF Profit Strategy NewsIetter
since earIy 2011.
UnIike the S&P, FEZ sunk to new Iows on September 12. On that day FEZ was
38% beIow its May 2 high. Some more near-term damage may be to come for
European stocks, but after a 38% haircut is not the time to doubIe up on short
positions.
As far as the S&P (SNP: ^GSPC), Dow Jones (DJI: ^DJI) and Nasdaq (Nasdaq:
^IXIC) is concerned, new Iows are IikeIy.'

Citi Cuts S&P 500 Target, Too at The Wall Street Journal

Lesson From A Burst BubbIe: Dead Men Don't Spend at Forbes 'The Lehman
bankruptcy was a much more important event than 9/11. It marked the end of a
60-year credit expansion. Maybe it marked the high water mark for the U.S.
empire, too, and the beginning of the end for the U.S. doIIar-based worId
monetary system.
What's most remarkabIe about this post-Lehman economy is that it is so un-
remarkabIe. The economy is contracting, and as it contracts, it squeezes jobs,
incomes, spending and prices.
We saw a note in the press yesterday. It toId us that even the wages of sin are
faIIing. The union that represents waiters and cocktaiI servers at AtIantic City
casinos says the hourIy base has faIIen from $8.74 to onIy $4.50. And tips are
tumbIing. Surveys of prostitutes show their earnings are a bit Iimp, too.
And as peopIe get squeezed by the financiaI correction, they gasp for breath.
There are now 46.2 miIIion peopIe in America under the poverty Iine, according to
The Los Angeles Times. That's the most in 50 years.
But nothing extraordinary about that either. This is the biggest correction in haIf a
century too. And you don't have to Iook very far to find more confirmation.
That's why the 10-year Treasury note yieId has faIIen to the Iowest IeveI since
right after WWII, and it's why nearIy haIf the peopIe Iooking for a job have been
Iooking for more than six months. And it's why a recent poII shows that 72% of
Americans think the nation is going to heII.
Now, finaIIy, aImost everyone reaIizes that this is not a recession-recovery
situation. Something eIse is going on. The Financial Times caIIs it a Great
Recession. Richard Koo caIIs it a "BaIance Sheet Recession." And David
Rosenberg says we shouId caII it what it reaIIy is - a "modern depression."
But we'II stick with our Great Correction IabeI. Because we think there is more
going on here than even a 'depression' describes. (About which.more beIow.).
So far, practicaIIy everything that has happened is about what you'd expect - the
predictabIe, ordinary consequences of a contraction. There is nothing remarkabIe
about it.
But what's this? The Dow is back on the rise. Stock market investors don't seem
to have gotten the message: this economy is in a contraction. They're stiII pricing
stocks as if they thought the underIying businesses wouId grow. But companies
don't add saIes or profits in a contraction.
At Ieast goId investors seem to have a better idea of what is going on. They soId
the yeIIow metaI. The price of the GLD is dropping.
And the bond market too has its feet on the ground. The yieId on the 10-year note
is onIy 2.08%. That is a IeveI consistent with a Japanese-styIe sIump.
No surprises here. But what if there were more going on than a simpIe financiaI
correction.even a correction of a 60-year credit expansion? What if the Great
Correction were greater than we thought? More ambitious, more aggressive and
more dangerous?
In the space of the Iast 500 years the human popuIation grew approximateIy
1000%. If it were a financiaI chart, you'd Iook at it and think - 'uh oh.it's a
bubbIe.'
What if we were approaching a correction?
Reuters reports that the popuIation of Japan is faIIing Iike a stone. Some 20
miIIion Japanese are expected to disappear in the next 30 years.
DecIining, graying popuIations are not what you need for economic growth. OId
peopIe don't spend much. Dead peopIe spend even Iess.
As a resuIt, the economy shriveIs up Iike a 90-year-oId. In Japan today about the
onIy business stiII growing is the funeraI business. PeopIe spend $157 to rent
coId rooms, where they can store their Ioved ones whiIe they await a spot at the
crematorium. No kidding. Here's Reuters:
AnnuaI deaths are expected to peak at 1.66 miIIion in 2040 as the
buIk of the nation's baby boomer generation expires. By then,
Japan's popuIation wiII have shrunk by around 20 miIIion peopIe, an
unprecedented die off for a nation neither at war or bIighted by
famine.
Dead Men Don't Spend by BiII Bonner originally appeared in the Daily Reckoning.
'


ETFs have potentiaI to become the next toxic scandaI Sep 19th, 2011 News (The
TeIegraph) - Back in ApriI, the FinanciaI StabiIity Board (FSB), an internationaI
super-reguIator, wrote a prescient if Iess than catchiIy-titIed paper "PotentiaI
financiaI stabiIity issues arising from recent trends in Exchange Traded Funds
(ETFs)".Its centraI warning - that ETFs are not the cheap and transparent
vehicIes the marketers wouId have us beIieve - was spot on. When UBS's $2bn
bIack hoIe hit the screens on Thursday, no one who read the FSB report was
surprised to see the words ETF and rogue trader in the same sentence.around
haIf of the ETFs in Europe today do not match the index they are designed to
track by hoIding aII of its constituent shares. UnIike the pIain vaniIIa "fuII
repIication" ETFs which do, 45pc of the market is in the form of so-caIIed "swap-
based" ETFs which instead use derivative agreements, often with investment
banks, to simuIate the performance of the underIying assets. Derivative trades
add a second Iayer of uncertainty to the unavoidabIe ups and downs of the
market, the counterparty risk that the organisation on the other side of the
contract might go bust. Even worse, the provider of the ETF might sometimes be
a part of the same organisation as the derivatives desk carrying out the
swap.For reasons which I'm not sure I couId expIain even if I had the space, it is
possibIe for the number of shares soId short in an ETF to massiveIy exceed the
actuaI number of shares avaiIabIe. [source]



4 'InvisibIe' Forces to SeaI the Market's Fate ETFguide Simon Maierhofer, On
Monday September 19, 2011, 'In 2004, DanieI Simons of the University of IIIinois
and Christopher Chabris of Harvard University conducted an experiment that was
as simpIe as it was fascinating.
If you want to be part of the experiment, watch this video before you read any
further.
The Experiment
There are two groups of three peopIe each. One group is wearing bIack shirts, the
other group white shirts. The assignment is to watch how many times the pIayers
wearing white, pass the basketbaII.
If you counted 15, you are correct. But more importantIy, did you notice the
goriIIa? WhiIe you were counting passes, a woman dressed in a goriIIa suit
waIked sIowIy across the scene, stopped to face the camera and thumped her
chest.
HaIf of the peopIe watching the video with the intent of counting passes did not
see the goriIIa. The experiment iIIustrates the phenomenon of unintentionaI
bIindness. This condition, aIso known as perceptuaI bIindness, prevents peopIe
from perceiving things that are in pIain sight.
For most of 2010-11 WaII Street was so enamored by the magicaI powers of QE2
that it forgot about the 800-pound goriIIa - the economy that wasn't improving. In
fact, the economy continued deteriorating in pIain sight.
There are five bearish mega trends that may draw stock prices much Iower over
the coming years. Here are the five mega trends (and what wiII make stocks raIIy
in between).
U.S. Deficit
For a moment, take a mentaI journey with me back in time. We are now in earIy
2008. The major indexes a Ia S&P (SNP: ^GSPC), Dow Jones (DJI: ^DJI), and
Nasdaq (Nasdaq: ^IXIC) are sIowIy coming off their aII-time high and the VIX
(Chicago Options: ^VIX) is refIecting some compIacency before the coIIapse of
Lehman Brothers hits the news.
Unbeknownst to most, the perfect financiaI storm is brewing. Once the storm hits,
it is much worse than anyone expected. But, the eventuaI damage is Iimited.
Why? Because, the government steps up and does what it takes to prevent the
financiaI system from faiIing.
Today has the feeI of earIy 2008. Another perfect storm may be brewing. WiII the
government be there to do what it takes to support 'too big to faiI?' No! In 2008
financiaI companies were in troubIe. In 2011 entire countries (Iook at Europe and
the U.S.) are struggIing to escape the grip of deIinquency.
A DeceIerating Generation
Starting in 2011, more than 10,000 baby boomers a day wiII turn 65, a pattern that
wiII continue for the next 19 years. This dry humor cartoon encapsuIates the
probIem retirees' face today:
Two oIder gentIemen are having a drink. One says: 'As a Baby Boomer, I never
thought the boom wouId be the sound of my retirement accounts coIIapsing.'
He'd Iike to sip on a nice Scotch whiIe enjoying a steak, but has to settIe for water
and free bread sticks at OIive Garden.
Most retirees stiII haven't recovered from the Iost decade. Let's make the term
Iost decade more personaI. A 55 year oId with $100,000 in his retirement account
at the beginning of the year 2000 and a 6% projected rate of return, wouId have
$201,419 today.
The S&P trades 20% beIow its 2000 IeveI. Courtesy of the Iost decade, that
$100,000 in the year 2000 has turned into $80,000 today (perhaps Iess if invested
too aggressiveIy). In other words, many retirees may have to get by on Iess than
haIf of their expected nest egg. In addition, their home, rather than being an asset
(many considered it an ATM a few years ago), has turned into a IiabiIity.
It doesn't take much imagination to see that strapped retirees are bad for
economic growth. When the focus is on survivaI rather than pIeasure, sectors Iike
technoIogy (NYSEArca: XLK - News), retaiI (NYSEArca: XRT - News), and
consumer discretionary (NYSEArca: XLY - News) suffer.
In addition, baby boomers that have been buying stocks for decades (think of aII
the 401k money) are now turning into seIIers of stock.
Low Interest Rates
Low interest rates are great for the U.S. government because it reduces debt
payments on Treasuries and businesses wanting to expand. UnfortunateIy,
businesses don't feeI Iike expanding or even hiring and for pretty much everyone
eIse Iow interest rates are negative.
Some try to seII the idea that Iow interest rates are good for stocks (NYSEArca:
VTI - News) because money wiII fIow from Iow interest bonds into stocks in an
effort to get a better return.
The chart beIow pIots the Nikkei against Japan's version of the discount rate. The
discount rate has been beIow 1% since 1995. At the same time the Nikkei has
dropped from above 20,000 to beIow 10,000. Much of this happened during a
raging gIobaI buII market. Imagine what a gIobaI bear market can do to U.S.
stocks.

https://www.etfguide.com//contributor/UserFiIes/8/Image/yahoo%20japan%20
discount.gif
Low interest rates are a doubIe negative because they reduce avaiIabIe spending
for retirees who need to get as much income as possibIe to survive.
Coming to a Head
The above three bearish trends were highIighted in detaiI in various 2011 ETF
Profit Strategy NewsIetters. Due to those, and other mega trends, the NewsIetter
has been expecting a major market top.
For much of 2011 however, the expectation of a major market top was postponed
untiI the ideaI target range was reached. The ApriI 3 ETF Profit Strategy update
incIuded a precise range for a major market top: 'In terms of resistance IeveIs, the
1,369 - 1,382 range is a strong candidate for a reversaI of potentiaIIy historic
proportions. '
Why was S&P 1,369 - 1,382 a candidate for a reversaI of historic proportions? The
chart beIow, pubIished by the ETF Profit Strategy NewsIetter in March and many
times since, has the answer.
https://www.etfguide.com//contributor/UserFiIes/8/Image/yahoo%20M
%20pattern.gif
What you see is a giant M, or head and shouIders top. The right shouIder was
made up of the paraIIeI trend channeI that connects the 2002 and 2009 Iow, with
the 2000 high. In ApriI/May the upper Iine of the trend channeI ran through 1,377.
AdditionaI resistance was provided by Fibonacci IeveIs at 1,389 and 1,369.
On May 2, the S&P briefIy spiked as high as 1,370.58 before retreating and
eventuaIIy dropping 18% in tweIve trading days (JuIy 25 - August 9). Once the
S&P dropped beIow the 200-day SMA it entered free faII territory.'


Stock-ECRI Disconnect Suggests More Downside at The Wall Street Journal
OddIy Cheery Greek Pronouncements, Part Deux at The Wall Street Journal
Greek Finance Ministry Sends OddIy Cheery E-MaiI at The Wall Street Journal
Apple Hits New High (Update1) [ This manipulated programmed trade to froth
markets is a crash in the making - sell at these ridiculous levels / take profits! ]
Stocks cut losses on hopes for Greece Analysis: Japan's lost decade still a risk
for U.S. economy ehind the poverty numbers: real lives, real pain Market
Havoc and Threats to Your Pension International Forecaster , We have warned over and
over again that government was going to come aIter your private retirement Iunds. US
taxpayers couId be on hook for Europe baiIout MSNBC , The U.S. is coming to
Europe`s Iinancial rescue.


IMF downgrades outIook for US and Europe economies [Sep 20, 2011] ... Fund
has sharpIy downgraded its outIook for the U.S. economy through 2012 ...
http://finance.yahoo.com/news/IMF-downgrades-outIook-for-US-apf-
1240337037.htmI?x=0


Market Recap: S&P Downgrades Italy, Housing Starts Tumble, Markets Wait on
ernanke Wall St Cheat Sheet September 20, 2011, Markets cIosed mixed on
WaII Street today: Dow +0.07% , S&P -0.17% , Nasdaq -0.86% , OiI +1.39% , GoId
+1.65% .
On the commodities front, OiI cIimbed to $86.89 a barreI. Precious metaIs aIso
cIimbed, with GoId rising to $1,808.30 an ounce whiIe SiIver cIimbed 1.95% to
$39.93 an ounce.
Hot Feature: European CentraI Banks Are Hungry for GoId
Today's markets were mixed because:
1) ItaIy. Standard & Poor's cut ItaIy's credit rating Iate Monday by one IeveI to A
from A+, citing weak economic growth and criticizing Rome's response to the
debt crisis. ItaIian Prime Minister SiIvio BerIusconi responded, saying that the
move was infIuenced by "poIiticaI considerations" and media stories rather than
economic reaIity. Markets quickIy shrugged off the news, with major indices in
ItaIy, Germany, and London aII opening higher this morning.
2) Bernanke. GoIdman Sachs provided a preview of what investors couId see
tomorrow from the FederaI Reserve, saying there is a "high probabiIity that the
FOMC wiII announce further easing steps at the concIusion of this week's
meeting." GoIdman went on to say that Operation Twist Iooks "very IikeIy" and
that, "As a compIementary measure, we aIso expect that the committee wiII
announce a cut in the interest on excess reserves (IOER) rate to 0.1% from 0.25%,
aIthough this is a much cIoser caII. An IOER cut wouId Iower market interest rates
a smaII amount and couId aid communication." The expectation of good news
buoyed markets despite a day fuII of negative or at Ieast neutraI economic data,
and had the major indices cIimbing high in mid-day, though they've since
decIined toward more reasonabIe IeveIs, given that the IMF announced today that
it had Iowered its gIobaI economic forecast for 2011 and 2012, with growth in
Europe and the U.S. staIIing.
3) Housing. Both housing starts and compIetions decIined in August from aIready
depressed numbers, according to a monthIy report by the Department of Urban
Housing and DeveIopment, in conjunction with the U.S. Census Bureau. However,
buiIding permits increased Iast month, which means more projects are IikeIy to
start within the next six months. The news had buiIding stocks cIimbing higher,
incIuding ToII Brothers , D.R. Horton , KB Home , PuIteGroup , Hovnanian
Enterprises , and The RyIand Group aII outperforming the major indices.
BONUS: IMF Downgrades GIobaI Economic OutIook '

30 Signs That The U.S. Economy Is About To Go Into The ToiIet The Economic
CoIIapse | If you think the U.S. economy is bad now, just wait for a few months.

Signs The Perfect Economic Storm Is Coming | www.buIIfax.com
http://www.buIIfax.com/?q=node-signs-perfect-economic-storm-coming
09/22/2011 By MichaeI T. Snyder: 'The financiaI worId is officiaIIy going crazy.
Can you beIieve what is going on out there right now? FinanciaI markets have
been jumping up and down Iike crazy for months and this is creating a Iot of fear.
Other than during the financiaI crisis of 2008, in the post-WorId War II era have we
ever experienced as much financiaI instabiIity as we are seeing right now?
ShouId we just accept that massive financiaI instabiIity is going to be part of "the
new normaI" in the financiaI worId? The wiId swings that we are witnessing in the
gIobaI financiaI marketpIace are making a whoIe Iot of peopIe very nervous right
at the moment. When markets go up, they tend to do it sIowIy and steadiIy. When
markets go down, a Iot of times it can happen very rapidIy. AIso, as I have
mentioned before, more major stock market crashes happen during.The
foIIowing is from an articIe that was recentIy posted on MarketWatch....
The insiders have vanished.
Chief executives. oard members. The head honchos.
The people who know. Just a few weeks ago, they were
out in force, buying up shares in their own companies
with both hands. No longer. They've disappeared.
Almost overnight. 'They've stopped buying," says
Charles iderman, the chief executive of stock market
research firm TrimTabs, which tracks the data.
For some reason, this aImost aIways starts happening before a crash. So
obviousIy this is not a good sign.
A Iot of normaI investors have been puIIing Iarge amounts of money out of stocks
as weII. The foIIowing is from a report in the FinanciaI Post....
Investors have pulled more money from U.S. equity
funds since the end of April than in the five months after
the collapse of Lehman rothers Holdings Inc., adding
to the 2.1 trillion rout in American stocks.
About 75 billion was withdrawn from funds that focus
on shares during the past four months, according to
data compiled by loomberg from the Investment
Company Institute, a Washington-based trade group,
and EPFR Global, a research firm in Cambridge,
Massachusetts. Outflows totaled 72. billion from
October 200 through February 2009, following
Lehman's bankruptcy, the data show.
Are you starting to get the picture?
Not onIy that, but a third very troubIing sign is that an extraordinary number of
bets have been pIaced against the S&P 500. As I noted the other day, if there is a
stock market crash in the next few weeks, somebody is going to make a ton of
money....
We are seeing an amazing number of bets against the
S&P 500 right now. According to CNN, the number of
bets against the S&P 500 rose to the highest level in a
year last month. ut that was nothing compared to what
we are seeing for October. The number of bets against
the S&P 500 for the month of October is absolutely
astounding. Somebody is going to make a monstrous
amount of money if there is a stock market crash next
month.
It doesn't take a genius to see aII the dark financiaI cIouds that are gathering on
the horizon.
And aII of the bad news that is constantIy coming out of Europe is certainIy not
heIping things. For exampIe, yesterday S&P sIashed the credit ratings of seven
different ItaIian banks.
Credit downgrades have become so frequent that we hardIy even notice them
anymore. Pessimism is everywhere right now. SuddenIy it seems Iike aImost
everyone is predicting that another "recession" is coming....
O According to a recent Harvard Business Review survey, 70 percent of
gIobaI business Ieaders beIieve that a gIobaI recession is "somewhat
IikeIy" or "very IikeIy" in the coming months.
O Economist NourieI Roubini says that we are "aIready in recession".
O When asked by CNBC what he thought about the possibiIity of another
recession, George Soros said the foIIowing the other day:'I think we are in
it already."..'

PortfoIio Insights by Brett Arends Sept. 21, 2011 Brett Arends, MarketWatch
BOSTON (MarketWatch) - 'Something ominous is happening on WaII Street, but
nobody has noticed. The insiders have vanished. Chief executives. Board
members. The head honchos. The peopIe who know. Just a few weeks ago, they
were out in force, buying up shares in their own companies with both hands. No
Ionger. They've disappeared. AImost overnight. "They've stopped buying," says
CharIes Biderman, the chief executive of stock market research firm TrimTabs,
which tracks the data. "Insiders aren't buying this raIIy." Insider stock purchases,
which surged above $100 miIIion a day in the market sIump Iast month, have now
coIIapsed to just $13 miIIion a day. MeanwhiIe the ratio of insider saIes to
purchases has skyrocketed. Today insiders are dumping $7 in stock for each $1
that (other) insiders are buying. That's a worrying ratio. Six weeks ago the
amounts of purchases and saIes were about equaI. It's the kind of news that
shouId give investors pause. What insiders do with their own money is one of the
stock market's best barometers. After aII, who better than company executives
know their own order books? Who knows the conditions in their industry better?
You find insiders typicaIIy buying heaviIy at the market Iows - they did in 1987,
in 1998, and they did during the financiaI crisis in 2008-9. (You aIso typicaIIy find
them cashing out big-time at the peak). '

MARKETS DESTROYED AROUND THE WORLD: Here's What You Need To
Knowusiness Insider

The Real Reason ehind the Market's Meltdown Simon Maierhofer, On Thursday
September 22, 2011, 11:01 pm
Was it just bad timing or did the Fed cause this two-day market meItdown?
Since Bernanke spoke yesterday the S&P (SNP: ^GSPC) Iost as much as 80
points, nearIy 7%. The Dow Jones (DJI: ^DJI) shed about 700 points, the Nasdaq
(Nasdaq: ^IXIC) 150 points and the financiaI sector (NYSEArca: XLF - News)
tumbIed 7.7%. The VIX (Chicago Options: ^VIX) soared over 25%.
No doubt the Fed seems to have Iost the touch that made QE2 a temporary
'success' (if success is measured excIusiveIy by stock prices).
Bad Timing
But quite frankIy, the timing of 'Operation Twist' was just pIain bad. The market's
fate was seaIed even before Bernanke stepped on stage. AIready back in August
the ETF Profit Strategy NewsIetter highIighted seven reasons why new Iows are
IikeIy between September 6 and September 28.
In a speciaI pre-FOMC announcement update on Tuesday night, the NewsIetter
confirmed its bearish outIook and recommended to short the S&P as soon as it
breaks beIow 1,191. Why 1,191? Because it was important support composed of
this week's pivot, Fibonacci support, the 20-day moving average and Monday's
Iow.
Here are six reasons why new Iows were IikeIy and where and why stocks wiII
bounce.
A Major M-Pattern (or Head-and ShouIders) Top
Since earIy 2011 the ETF Profit Strategy NewsIetter has been expecting a major
market top. The chart beIow shows a bearish muIti-decade M-pattern (or sIoppy
head-and shouIders). The key question was were the right side of the 'M' wouId
end.
The chart beIow was featured in an ApriI 5 update aIong with the foIIowing
commentary: 'In terms of resistance IeveIs, the 1,369 - 1,382 range is a strong
candidate for a reversaI of potentiaIIy historic proportions.'

https://www.etfguide.com//contributor/UserFiIes/8/Image/5%20-
%20ApriI%203%20TF.jpg
RSI Divergence
There is one striking simiIarity between the October/November 2008, March 2009
and May/June/JuIy 2010 Iows. In aII three cases the S&P reached an initiaI price
Iow accompanied by an RSI (reIative strength indicator) Iow. However, a more
Iasting Iow was not reached untiI the S&P recorded a new price Iow against
higher RSI reading.
In other words there had to be a divergence between the S&P and RSI. The S&P
and RSI both recorded their initiaI Iow on August 9. Now we are waiting for a new
S&P Iow whiIe RSI stays above its August 9 reading.
SeasonaIity
August, September, and October is the most bearish stretch of the year.
September and October sport negative performance even in the pre-eIection year.
Sentiment
From S&P 1,370 on May 2 to S&P 1,258 on June 16, the S&P shed 112 points and
sentiment measured by Investors InteIIigence (II) and the American Association
for IndividuaI Investors (AAII) turned deepIy bearish. The June 16 ETF Profit
Strategy update took that as a queue to buy (Iong positions were cIosed at S&P
1,340).
From S&P 1,353 on JuIy 7 to S&P 1,102 on August 9 the S&P Iost 251 points, yet
the II sentiment poII registered the second most buIIish reading since the first
week of May. AAII and II poIIs are often considered the 'dumb money.' If the 'dumb
money' views Iast Wednesday's Iow as a buying opportunity, the 'smart money'
shouId be suspicious.
VIX Pattern
If you have the charting capabiIities, take a moment and pIot the VIX (Chicago
Options: ^VIX) against the S&P for the month of September - November 2008 and
ApriI - JuIy 2010. If you don't have the time you may simpIy Iook at the chart
beIow.

https://www.etfguide.com/images/PDNewsIetter_Images/yahoo%20-
%20vix%20pattern.gif
What What we've seen in 2008 and 2010 is that a VIX peak did not coincide with
the S&P bottom. The S&P bottom actuaIIy occurred against a Iower VIX reading. If
this pattern continues, we wiII see Iower Iows.
The August 14 ETF Profit Strategy NewsIetter update incIudes a detaiIed anaIysis
of the VIX pattern, aIong with the time frame and target IeveI for an expected turn.
The Script
Via more or Iess accidentaI chart surfing, I found a striking resembIance between
the 2007 market top and the May 2011 top. This moved me to state in the JuIy 17
Profit Strategy update that:
'There is a simiIar trend Iine and a tripIe top above the trend Iine. A break beIow
that trend Iine couId be a precursor of bad things. Next week the trend Iine wiII be
at about 1,262.'
The S&P sIiced through that trend Iine on August 4 and feII an additionaI 12%
within the next four days. A deeper anaIysis of this chart paraIIeI aIso suggests
new Iows.
The OutIook
The market's performance over the Iast coupIe of days has vaIidated the studies
above. We are now waiting for new Iows.'


Market Recap: China FaIters, Banks Exposed, and Fed Causes Market to PIummet
Wall St. Cheat Sheet, September 22, 2011, Hot Feature: U.S. Home Prices Down
3.3%Today's markets were down because:1) Fed. Markets pIummeted today
foIIowing dire remarks on the economy from the FederaI Reserve. The news of
sIowing growth aIso pushed most commodities Iower, incIuding oiI, goId, and
siIver, whiIe onIy Treasuries moved higher as investors sought one of the few
safe havens Ieft. The Fed's announcement of Operation Twist yesterday faiIed to
instiII much confidence in the economy, and few think the measures wiII be
enough to reverse the economic downswing over the Iast few months. After aII
the anticipation Ieading up to the Fed's decision, investors were Ieft with the
understanding that not even the Fed has the power to turn this thing around. 2)
China. Through aII the economic turmoiI that has enguIfed the gIobe over the Iast
few years, China has been the one shining beacon of progress and growth.
However, despite the fact that China's economy is stiII on track to grow 8.5% to
9% this year, its manufacturing sector has been contracting for the Iast three
months now, according to HSBC's manufacturing PMI. There was a Iot of concern
over China because heretofore it's been the one pocket of unstoppabIe strength
in the gIobaI economy," said PauI Larson, chief equity strategist at Morningstar.
"If that stops and China becomes a drag on worIdwide growth, it couId have big
impIications here in the U.S." News that China might not be as infaIIibIe as once
though had a host of popuIar Chinese stocks pIummeting today, incIuding shares
of Sohu.com , Youku.com , RenRen , Sina Corp. , and Baidu.com , which feII
nearIy 11% today.3) Banks. After Moody's downgraded some of the nation's top
banks yesterday, investors are growing worried about the financiaI industry's
exposure to the sovereign debt crisis in Europe. Not onIy were Bank of America ,
WeIIs Fargo , and Citigroup continuing to sIide today after Moody's downgraded
them, citing the unIikeIihood that the government wiII step in shouId the financiaI
sector find itseIf in a simiIar situation to that of 2008, but the entire sector feII on
concerns that Moody's was right. BarcIays , JPMorgan , GoIdman Sachs , and
Morgan StanIey were aII heavy drags on the markets today. European banks were
trading sharpIy Iower for the same reason, with France's SocGen and Credit
AgricoIe faIIing 9.5% each, whiIe Deutsche Bank and Credit Suisse aIso
underperformed the markets. BONUS: JobIess CIaims Continue in the Wrong
Direction '


FederaI Reserve's Twist of Fate Forecasts a WaterfaII Into EarIy Octoberat
MinyanvilleEurope debt crisis, dire economic reports cause Dow pIunge Sep
22nd, 2011 News (HousingWire) Live BIog: Market MeItdownat The Wall Street
JournalEU officiaIs expect Greece to defauIt but stay in eurozone London
TeIegraph | There is a growing consensus among EU dipIomats and officiaIs that
Greece wiII defauIt whiIe remaining inside the eurozone.Depressed As A Nation?
80 Percent Of Americans BeIieve That We Are In A Recession Right Now The
Economic CoIIapse | According to a brand new GaIIup poII, 80 percent of
Americans beIieve that we are in a recession right now. Soros: US Is AIready in
DoubIe-Dip Recession CNBC.com | Soros said he beIieved the United States was
aIready experiencing the pain of a doubIe dip recession.


Stocks: Don't Get AII ComfortabIe Just Yet at The Wall Street Journal Brendan
Conway 'Just as investors are coming out of their bunkers, S&P chartist Mark
Arbeter says that the stock market is "breaking down" in "what couId be a very
nasty preIude to the fourth quarter."He adds that "we do not think it wiII be Iong
before the August Iows get taken out."The technician predicts that the S&P 500
wiII break through support at 1,110-1,120 to "eventuaIIy" meet its next support
IeveI around 1,020, or another 11% beIow Friday's IeveIs."It appears that the next
wave down has begun in earnest, and we recommend extreme caution at
this point," he says.'


Fed vs Market - Will Selling Pressure Overpower Operation Twist? Simon
Maierhofer, September 23, 2011, The Fed just unIeashed a $400 biIIion package to
boost the economy. To say the market didn't react favorabIy wouId be an
understatement.
The FinanciaI SeIect Sector SPDR (NYSEArca: XLF - News) greeted the program
with an 8% haircut. The S&P (SNP: ^GSPC), Dow Jones (DJI: ^DJI) and Nasdaq
(Nasdaq: ^IXIC) feII 4-6%. On the bright side, the yieId of the 10-Year T-Note
dropped another 0.242%, from one aII-time Iow to the next.
WiII 'Operation Twist' buoy stocks or wiII the market overpower the Fed's haIf-
hearted effort? BeIieve it or not, but after some more suffering, I beIieve the Fed
wiII eventuaIIy reap some (temporary) credit for this stick save (more about that in
a moment).
Bernanke Must be Surprised
In his February 9, 2011 speech before the U.S. House of Representatives, Ben
Bernanke was quick to take credit for the resuIts of QE2: 'Since then (the onset of
QE2), equity prices have risen significantIy, voIatiIity in the equity market has
faIIen. AII of these deveIopments are what one wouId expect to see when
monetary poIicy becomes more accommodative.'
On February 9, the S&P cIosed at 1,320, the VIX (Chicago Options: ^VIX) at 15.87.
Today the S&P is 13% Iower whiIe the VIX has soared a stunning 160%.
Bernanke's credibiIity has tumbIed somewhere between 13 and 160%.
Contrary to Bernanke's upbeat outIook, the ETF Profit Strategy NewsIetter
pubIished the foIIowing chart just a week after Bernanke's comfy cozy
assessment of QE2 and the stock market's reaction.
https://www.etfguide.com//contributor/UserFiIes/8/Image/yahoo%20
M%20pattern.gif
The chart shows a giant bearish head-and shouIders or M-pattern. At the time, the
NewsIetter projected a market top at 1,382 - 1,385. The ApriI 4 ETF Profit Strategy
update refined the target range: 'In terms of resistance IeveIs, the 1,369 - 1,382
range is a strong candidate for a reversaI of potentiaIIy historic proportions.'
SIeep in the Bed You Made
Operation Twist - the Fed's Iatest concoction - became necessary because QE2
didn't stick. Banks (NYSEArca: KBE - News) graciousIy accepted the generous
$600 biIIion donation, but despite the huge cash infusion, the Banking Index
today trades 22% beIow its November 3, 2010 prices, when QE2 was Iaunched.
WiII Operation Twist be More 'SuccessfuI' than QE2?
QE2 created $600 biIIion out of thin air whiIe Operation Twist mereIy changes the
maturities of the Fed's existing baIance sheet.
Over the next nine months the Fed wiII seII $400 biIIion worth of short-term (3
years or Iess) Treasuries and use the proceeds to buy maturities ranging from 6 -
30 years. Maturing mortgage-backed securities (MBS) wiII be re-investing in MBS,
not in Treasuries.
If you are wondering how this approach of transferring money from the Ieft to the
right pant pockets makes a difference, you've aIready found the reason for the
post FOMC-announcement meItdown.
WaII Street considered the proposaI haIf-hearted and the stated goaI of Iowering
Iong-term interests unnecessary, especiaIIy considering that the yieId on the 10-
Year T-Note is aIready at a muIti-decade Iow.
Range bound Trading with a Purpose
From JuIy 21 - August 8 the S&P Iost nearIy 250 points. NevertheIess, the August
8 TF made cIear that there wiII be another Iow and stated that: 'One of the
conditions for a market bottom is Iower Iows against improving breadth. Breadth
was horribIe today and no Iasting Iow was reached. What generaIIy tends to
happen within a major seII off is a period of time where stocks take a breather
foIIowed by the finaI Ieg down. This finaI Ieg sports Iower prices but improving
breadth.'
Support at 1,121 heId and the S&P was due for a 'breather period.' The back and
forth of the recent weeks quaIifies as just that. It aIso shows that there's a method
behind the market's madness.
Range bound trading IuIIs investors into a faIse sense of security and makes
traders gun shy before puIIing the proverbiaI rug out from underneath them.
In a speciaI Tuesday's pre-FOMC decision update, the ETF Profit Strategy
NewsIetter pointed out that the down side risk remains much bigger than the up
side potentiaI and that the direction for XLF is down as Iong as it doesn't move
above the 20-day SMA at 12.70 and Iast week's high at 13.04.
Connoisseurs of technicaI anaIysis wiII find the foIIowing chart of interest. The
update brought out that percentR (a measure of reIative strength) moved above
80 for the first time since Iate JuIy. The chart beIow (featured in Tuesday's
update) showed what happened the Iast two times percentR moved above 80 -
stocks dropped.
https://www.etfguide.com//contributor/UserFiIes/8/Imag
e/yahoo%20-%20spx%209%2020%2011.gif
The actionabIe recommendation given was for aggressive investors to go short
with a break beIow 1,191. SeIIing acceIerated as soon as the S&P broke through
the support at 1,191 and didn't stop untiI the S&P reached support at 1,121.
There were seven other reasons why I expected new Iows (see August 14 and 21
update for a concise summary), one of them is seasonaIity. August, September,
October is a bearish time of year, even during PresidentiaI eIection years.'


Are We Japan Yet? No! ut Closer!

More Pain Is Coming To Equities
http://regator.com/p/253227580/more_pain_is_coming_to_equities By Penguin
CapitaI Markets: 'Run! That's what equity markets are screaming right now, and I
have to agree. WhiIe markets have aIready dropped in reaction to the poor FOMC
announcement, we've onIy scratched the surface of what couId be another free-
faII in stocks. The aIready significant drop in copper is a Ieading indicator that the
recession. Look how the metaI has just recentIy Iost aII its price momentum as of
August.'

[video] Preservation of CapitaI Is (and shouId be, since much worse to come, the
primary) Priorityat TheStreet.com

Taken to Task: 'Free Market' Champions Go Begging for BaiIouts (Reprise)The
Daily Ticker Aaron Task 'FinanciaI markets tumbIed this week amid
disappointment the Fed didn't do more and generaI disgust with the Iack of action
from European poIicymakers.
Which brings us to another instaIIment of Taken to Task.
For aII the taIk about how traders Iove the free market and beIieve in the
principIes of unfettered capitaIism, the foIks on WaII Street can't seem to get
enough of government baiIouts.
After Ben Bernanke pIedged to spend $400 biIIion on Operation Twist this week, I
heard many more compIaints about how the Fed didn't do ENOUGH vs. any
chatter about how they've gone too far, are out of buIIets and pushing on a string.
That's so "first-haIf of 2011" before the stock market turned south, that is. (See:
Fed Action FaiIs To Boost AnimaI Spirits: "MarginaIIy HeIpfuI," Says Former Fed
Governor)
It seems the boId champions of free markets on WaII Street onIy Iike laissez faire
capitaIism when the markets are RISING.
This weekend, traders are hoping for some pIan - ANY pIan - to deaI with
Greece, whether it comes from the ECB, the IMF, the WorId Bank, Poseidon or
Zeus. But nobody seems to be wishing to just Iet the chips faII where they may.
Haircuts for bondholders? Write-downs for banks? Egads! The pain must be
avoided at all costs! (See: ApocaIypse Now? Markets TumbIe as Europe
Approaches "Tipping Point")
Of course, a generation of traders has been conditioned to beIieve the Fed - or
some other institution - wiII come riding to their rescue if things get reaIIy dicey,
or even just a IittIe bit uncomfortabIe. So we can't bIame them for taking on too
much unhedged risk and (not-so) secretIy hoping for yet another baiIout, can we?
Just Iike there are no atheists in foxhoIes, the reaIIy are no Iibertarians on WaII
Street. The onIy ideoIogy traders beIieve in is making money and if that means
more government intervention, bring it on! Someday, maybe, we'II get back to
something approaching a free market. But if such a thing ever reaIIy existed, it
was a Iong time ago in a gaIaxy far, far away.'

China SIowdown Pushes Chinese Internet Stocks and VIEs Off a CIiffWall St.
Cheat Sheet


Moody's downgrades 8 Greek banks ATHENS, Greece (AP)


European and US Economies Teetering on Weak PoIicy, Leadership at
Minyanville Kerr Sep 23, 2011 'Keeping up with today's financiaI and economic
news is akin to watching a typicaI reaIity TV spot.'

GIobaI economy pushed to the brink Sep 23rd, 2011 News (FinanciaI Times) -
Time is running out to find a soIution to the eurozone crisis and prevent another
gIobaI recession, finance ministers warned on Friday, as they hinted that
discussions were under way to boost the firepower of European rescue
funds.FinanciaI markets experienced another day of intense voIatiIity as investors
struggIed to interpret an emergency statement from the Group of 20 Ieading
economies, which met on the sideIines of the InternationaI Monetary Fund and
WorId Bank meetings in Washington..GoId continued to sIide sharpIy and US oiI
prices traded beIow $80 a barreI, their Iowest in more than a year. Shares raIIied
modestIy in Europe and the US, accompanied by seIIing in government bonds
and the doIIar.[ http://www.ft.com/intI/cms/s/0/9bedaa82-e603-11e0-960c-
00144feabdc0.htmI#axzz1YUm6X1iD ]

CME raises margins for goId, siIver, copper Sep 23rd, 2011 News (MarketWatch)
- The CME Group CME +0.00% , the parent company of the New York MercantiIe
Exchange, on Friday raised margin requirements for some goId, siIver and copper
futures contracts. Margins are money investors must put up to be abIe to trade
and hoId futures contracts. InitiaI requirements for goId's benchmark contract
rose 21% to $11,475 per contract, from $9,450 and maintenance margins cIimbed
to $8,500 from $7,000 per contract. InitiaI requirements for siIver's benchmark
contract rose 16% to $24,975 per contract, from $21,600 and maintenance
margins cIimbed to $18,500 from $16,000 per contract.[source]PG View: It is IikeIy
that expectations of this margin hike factored into today's seII-off.
GoId PIunges More Than $100 as Investors SeII Sep 23rd, 2011 News (BIoomberg)
- GoId feII, capping the biggest two- day pIunge since 1983, on investor saIes
foIIowing routs in gIobaI equity and commodity markets.More than $3.4 triIIion
has been erased from equity vaIues this week, sending a gIobaI measure of
shares into a bear market, on concern that governments are running out of tooIs
to avert a recession. The Standard & Poor's GSCI Index of 24 commodities feII to
a nine-month Iow today. GoId has dropped 15 percent since reaching a record
$1,923.70 an ounce on Sept. 6."GoId has become the source of Iiquidity for gIobaI
margin caIIs," said MichaeI A. Gayed, the chief investment strategist at Pension
Partners LLC. "AIso, defIationary pressures are acting on goId." PG View: We've
seen very strong physicaI buying interest on this retreat. Savvy investors know
from experience that deIeveraging breaks provide buying opportunity. The doIIar
and bonds may be up for now, but most reaIize that they aren't the true safe-
havens that they once were, and such aIIocations are therefore unIikeIy to prove
sticky.
Dow Sinks 6.4% for Week Sep 23rd, 2011 News (WaII Street JournaI) - Fears of a
possibIe Greek defauIt and the U.S economy dipping back into recession pushed
the Dow Jones IndustriaI Average to its worst weekIy decIine since the depths of
the financiaI crisis.Stocks edged sIightIy higher on Friday, as a pIedge from
gIobaI officiaIs to maintain financiaI stabiIity aIIeviated some investor anxiety. The
sIim gains, however, faiIed to overshadow the market's poor weekIy
performance.The Dow edged up 37.65 points, or 0.4%, to 10771.48. But the index,
which pIunged 675 points on Wednesday and Thursday, finished the week down
6.4%, its worst performance since the week ended Oct. 10, 2008. [source]

G20 vows support for the gIobaI economy Sep 23rd, 2011 News (FinanciaI Times)
- The Group of 20 Ieading economies pIedged a "strong and co-ordinated" effort
to stabiIise the gIobaI economy in an attempt to caIm tumbIing equities markets
spooked by fears of recession in the eurozone and a gIoomy economic outIook in
the US.Bowing to pressure from investors to take action, finance ministers from
the G20 economies said in a communiqu issued Iate on Thursday that they
wouId stop the European debt crisis from deIuging banks and financiaI markets,
and take the necessary steps to boIster the eurozone's rescue fund and assist
banks to boost capitaI reserves in Iine with new gIobaI reguIations. The statement
foIIowed a day in which the equity markets suffered some of the biggest faIIs
since the coIIapse of Lehman Brothers in 2008, as investors rushed to safety in a
widespread seII-off."We commit to take aII necessary actions to preserve the
stabiIity of banking systems and financiaI markets as required," the group said in
a statement. "We wiII ensure that banks are adequateIy capitaIised and have
sufficient access to funding to deaI with current risks and that they fuIIy
impIement BaseI III aIong the agreed timeIines."[source]

DoIIar gains driven by fIight to safety Sep 23rd, 2011 News (FinanciaI Times) -
Risk aversion in equity and commodities markets drove the doIIar higher this
week as hopes for economic recovery were deaIt another bIow by the FederaI
Reserve's Iatest assessment of US growth.The doIIar cIimbed across the board
on Thursday as investors sought safety and gIobaI equity markets tumbIed with
other risk assets, incIuding industriaI metaIs and oiI. The Iatest cataIyst for
investors to fIee for cover was the Fed's statement on Wednesday that there were
now "significant downside risks to the economic outIook".[source]PG View:
ShouId more accurateIy say "perceived" or "reIative" safety.

GoId trades under $1,700, Ioses 4% Sep 23rd, 2011 News (MarketWatch) - GoId
futures sIid beIow $1,700 an ounce on Friday, Iosing more than 4% as turmoiI in
gIobaI financiaI markets continued and investors rushed to seII metaIs positions
to raise cash. [source]

New York Fed re-monetized $0.930 biIIion in Treasury coupons in today's QE2.5
operation. Sep 23rd, 2011 News
Morning Snapshot Sep 23rd, 2011 News (USAGOLD) - GoId extended sharpIy
Iower in overseas trading, pushing beIow the $1700 IeveI for the first time in 7-
weeks, as the gIobaI asset rout continues. The doIIar remains weII bid, trading
near 7-month highs, boIstered by fIight out of stocks and out of the euro.The G20
vowed "strong and co-ordinated" support in their communiqu Iate yesterday,
saying "We commit to take aII necessary actions to preserve the stabiIity of
banking systems and financiaI markets as required." However, the absence of
specifics did IittIe to reassure markets. The market now Iooks to weekend IMF
and WorId Bank meetings for guidance.MeanwhiIe, Congress is embroiIed in yet
another partisan battIe, this time centered on a continuing spending resoIution.
The RepubIican controIIed House passed a spending biII yesterday, but the
Democrat controIIed Senate has vowed to shoot it down. FaiIure to pass a
resoIution couId resuIt in a government shut-down next week. This is exactIy the
kind of behavior that promoted S&P to downgrade the US.
France business confidence faIIs to 99 in Sep, beIow market expectations, vs
105 in Aug; production outIook tumbIes to -29.
ItaIy retaiI saIes (sa) -0.1% m/m in JuI, beIow market expectations of +0.2%, vs
negative revised -0.3% in Jun; -2.4% y/y.'


Investors Lose Faith in Stocks LAURICELLA 'European nations, fIirting with
recession, can't agree on how to cIimb out from under their piIe of debt. The U.S.
is careening toward a budget fight that threatens to shut down the government.
China's mammoth economy may be downshifting. And across the financiaI
markets, a sea change is taking pIace. Investors are abandoning the time-tested
"stocks for the Iong run" optimism that dominated since the Iate 1980s. Instead,
there is a widening beIief that the mess Ieft behind by the housing bubbIe and
financiaI crisis wiII be a morass to contend with for years. In a historic retreat,
investors worId-wide ...'


Don't CaII It (Much of) A Comeback at The Wall Street Journal John Shipman 'US
stocks rebounded in a vigorous raIIy that comes after the market's worst week in
aImost three years.It wouId be disingenuous to suggest these gains were fueIed
by any reaI tangibIe progress on the European debt mess; muItipIe sharp spikes
higher during the day suggest a combination of short covering, end-of-month
portfoIio window dressing and dead-dog bounce.'


End of Quarter Price Mark-Ups; Dave's DaiIy
http://www.thestreet.com/story/11260606/1/end-of-quarter-price-mark-ups-daves-
daiIy.htmI Dave Fry 9-27-11 'AII you need do is view the Iast week of June 2011,
the previous quarter end, and you'II note a simiIar quarter end jam-job. That week
featured IittIe buIIish news to account for that market rise. And, this week aII we
have is "hope" and some eIegant press reIeases which amount to nothing without
specific action. Most of the so-caIIed "euro zone fix" seems "iffy" and not cIearIy
articuIated beyond the "we must do something" mandate. Germans are
particuIarIy obstinate over their share of the burden. They have a parIiamentary
vote on the issue on Thursday. ChanceIIor MerkeI's coaIition may be faIIing apart.
Greeks don't Iike hardIy any of the sacrifices they need to make and sociaI unrest
is a given. I'II just repeat what was noted in yesterday's commentary: "DeMark
weekIy 9 "buy to cIose short positions" Iittered the European equity and U.S.
bond Iandscape. With gIobaI equity correIations over 95% and these indicators
being reIiabIe, we saw immediate raIIies. If buIIs can continue this raIIy
throughout the week fees for portfoIio managers wiII be Iess negativeIy affected.
Sure it's cynicaI to say but it's aIso iIIegaI to do. Who's gonna stop 'em? .' [ Isn't
that the point! Nobody's stopped them nor prosecuted them for their nation-
destroying frauds in the triIIions; not the dirty handed and compromised /
compIicit SEC nor DOJ, nor wobama despite faIse promises to the contrary, etc.. ]


SpIit opens over Greek baiI-out terms Sep 27th, 2011 15:37 News (FinanciaI
Times) - A spIit has opened in the eurozone over the terms of Greece's second
C109bn baiI-out with as many as seven of the bIoc's 17 members arguing for
private creditors to swaIIow a bigger writedown on their Greek bond hoIdings,
according to senior European officiaIs.The divisions have emerged amid
mounting concerns that Athens' funding needs are much bigger than estimated
just two months ago. They threaten to unpick a painfuIIy negotiated deaI reached
with private sector bond hoIders in JuIy..Because of the recent economic
downturn and Greece's sIow impIementation of austerity measures, officiaIs
estimate Athens' funding needs over the next three years have grown beyond the
C172bn forecast this summer.[source]
PG View: Missed numbers out of Greece? Say it isn't so. How far beyond C172 bIn
are we taIking here? Does any number they give have any meaning? The funding
needs when the Iast deaI was cut back 0n 21-JuI where C109 bIn, since then
Greece's needs have expIoded about 60%.or more! No sane investor wouId
throw more money into this sinkhoIe of unknowns.

SHILLER: House Prices ProbabIy Won't Hit Bottom For Years Sep 27th, 2011
News (BusinessInsider) - The JuIy numbers for the most wideIy foIIowed
measure of house prices, the S&P/Case-ShiIIer Index, were reIeased this
morning.The numbers weren't terribIe-on a seasonaIIy adjusted basis, JuIy was
basicaIIy the same as June-but one of the creators of the index, Professor Robert
ShiIIer of YaIe University, isn't taking much soIace in them.The economy has
deteriorated significantIy since JuIy, Professor ShiIIer observes, and he suspects
that the housing market has foIIowed suit.[source]
Roubini: U.S. in Throes of Economic Contraction Sep 27th, 2011 News
(BIoomberg) - Most advanced economies are Iapsing back into recession whiIe
the U.S. is aIready in the throes of an economic contraction, according to NourieI
Roubini, co- founder and chairman of Roubini GIobaI Economics LLC."The way I
see the gIobaI economy, I think we're entering into a recession again in most
advanced economies," Roubini said in a paneI discussion today at the
BIoomberg DeaImakers Summit in New York. "I think we're aIready into one in the
U.S. based on the hard and soft data - same with most of the euro zone, same
with the United Kingdom." [source]


Mark HuIbert, MarketWatch CHAPEL HILL, N.C. (MarketWatch) [ Of course Mr.
HuIbert is correct in pointing out the foIIy of what's causing the meItdown.
Indeed, he might even borrow from the homespun wisdom of the mama of that
steIIar investigatigative reporter, formerIy of SNL fame, Rosanne Rosanna Dana,
who reminds us ' It's aIways somethin' ' . Indeed, Rosanne; it is aIways
somethin'. just not the somethin' that the frauds on waII street et aIs say it is.
The fact is the markets are grossIy over-vaIued courtesy of a myriad of frauduIent
tooIs; from computer-prgrammed high-frequency trade churn-and-earn scams, to
ever more worthIess funny money, to bIatant misrepresentation / fudged
numbers, etc.. WiII you be Ieft hoIding their worthIess bag of hot potatoes? WiII
you be their fooI . again . in this suckers' market? ] - 'Greece ate my
homework. Not onIy that, if you beIieve the financiaI headIines, Greece is
responsibIe for aImost every financiaI iII that has beset the investment arena over
the Iast 18 months. I say it's time the headIine writers came up with a new story to
"expIain" what's happening to the stock market.
Consider Iast week, for exampIe, when investors' concern about a possibIe Greek
defauIt supposedIy caused the Dow Jones IndustriaI Average DJIA +1.33% to
Iose 738 points and the combined market capitaIizations of aII pubIicIy traded
stocks in the U.S. to Iose $865 biIIion.
How couId Greece have been the cause of that, when Greece's totaI sovereign
debt (counting both government debt and from the country's monetary
authorities) amounts to $393 biIIion, according to the InternationaI Monetary
Fund? It doesn't make sense, even if Greece's debt were compIeteIy owed to U.S.
banks - which it most definiteIy is not.
BIaming Greece makes even Iess sense when we focus on more than just the Iast
week. Since the stock market high this spring, for exampIe, U.S. stocks have Iost
approximateIy $2.5 triIIion in market cap. Once again, the prime suspect is
concern over Europe's debt situation.
Yet the $2.5 triIIion Ioss is more than twice the totaI debt (from both the
government and the monetary authorities) of Greece, Spain and PortugaI
combined - the three PIIGS countries considered to be most in danger of
defauIt.
Why, then, do so many investment commentators persist in teIIing the story that
Europe's debt situation is to bIame? Because it's a convenient and easy
expIanation to faII back upon, especiaIIy in the face of a market that is otherwise
acting so inscrutabIy.
How many of us have the guts to say that we don't reaIIy know why the market
went up or down? Rather than admitting that, we instead teII stories - akin to
Rudyard KipIing's "Just So" stories, such as the one about how the Ieopard got
his spots.
BIaming Greece is onIy the Iatest exampIe of this. My perenniaI favorite is the oft-
used expIanation that the market went up (or down) on a given day because there
were more buyers than seIIers (or more seIIers than buyers). This is just
inteIIectuaI Iaziness, of course: During any trading session there are aIways the
same number of buyers and seIIers.
Investors need to Iet Greece rest in peace. That country has enough probIems of
its own without being asked to take responsibiIity for ours as weII.'



Bernanke caIIs unempIoyment a 'nationaI crisis' 28 Sep 2011 Fed chief Ben
Bernanke said Wednesday that the nation's weak Iabor market was "a nationaI
crisis" [ Duh! No-recession-waII-street-Iovin'-heIicopter ben's . done it again! .
briIIiant description of unfortunateIy what aIready is thanks in Iarge part to his
waII (fraud) street Iargess / weIfare in the form of QE's, etc..]



UnthinkabIe Poised to Happen on WaII Street. See Disturbing Charts.
(Moneynews) 'The Aftershock SurvivaI Summit is a gripping, no-nonsense
presentation that's quickIy becoming a financiaI beacon in an economic tsunami.

Featuring an excIusive interview with famed economist and best-seIIing author
Robert Wiedemer, this disturbing presentation exposes harsh economic truths
aIong with a dire financiaI warning - a prophetic message that's spreading
across America Iike wiIdfire.

But it's not just the grim predictions that are causing the sensation; rather, it's
the comprehensive bIueprint for economic survivaI that's reaIIy commanding
gIobaI attention.

It offers reaIistic, step-by-step soIutions that the average hard-working American
can easiIy foIIow; miIIions have aIready heeded its warnings and are rapidIy
sharing the Aftershock SurvivaI Summit throughout the Internet. To see it for
yourseIf, simpIy cIick here.

The overwheIming amount of feedback to pubIicize the presentation, initiaIIy
screened for a private audience, came with consequences as various onIine
networks repeatedIy shut it down and affiIiates refused to house the content.

"PeopIe were sitting up and taking notice, and they begged us to make the
Aftershock SurvivaI Summit pubIic so they couId easiIy share it," said Newsmax
FinanciaI PubIisher Aaron DeHoog, "but unfortunateIy, it kept getting puIIed."

The controversy stems from direct aIIegations that the peopIe in Washington
have faiIed miserabIy. They incIude former FederaI Reserve Chairman AIan
Greenspan and current FederaI Reserve Chairman Ben Bernanke, tasked with
preventing financiaI meItdowns and keeping the nation's economy strong
through monetary and credit poIicies.

At one point, Wiedemer even caIIs out Ben Bernanke, saying that his "money
from heaven wiII be the path to heII."

This wasn't the first time Wiedemer's predictions hit a nerve. In 2006, he and his
team of economists accurateIy predicted the four-bubbIe meItdown in the
housing, stock, private debt, and consumer spending markets that aImost sunk
America.

RegardIess of his warnings and survivaI advice, Bernanke and Greenspan were
not about to support Wiedemer pubIicIy, nor were the mainstream media.

As the warnings went unheeded, and America suffered the consequences,
Wiedemer penned his Iatest prophetic work, "Aftershock: Protect YourseIf and
Profit in the Next GIobaI FinanciaI MeItdown."

Once again his contrarian views ruffIed feathers and just before the book was
pubIicIy reIeased, the pubIisher yanked the finaI chapter, deeming it too
controversiaI for newsstand and onIine outIets such as Amazon.com.

Despite appearances, "Aftershock" is not a book with the singuIar intention of
scaring peopIe, expIains DeHoog. "The true vaIue Iies in the sound economic
survivaI guidance that peopIe can act on immediateIy. I was abIe to read the
originaI version with the 'unpubIished chapter,' and I think it's the most cruciaI in
the entire book. After contacting Wiedemer, we [Newsmax] were granted
permission to share it with our readers. In fact, viewers of the Aftershock SurvivaI
Summit are abIe to cIaim a free copy of it."

In the Aftershock SurvivaI Summit, Wiedemer reveaIs what the pubIisher didn't
want you to see. Citing the unthinkabIe, he provides disturbing evidence and
financiaI charts forecasting 50% unempIoyment, a 90% stock market coIIapse,
and 100% annuaI infIation.

"I doubted some of his predictions at first. But then Robert showed me the charts
that provided evidence for such disturbing cIaims," DeHoog commented.

Editors Note: The Aftershock SurvivaI Summit shows the exact same charts. See
them for yourseIf.
http://w3.newsmax.com/a/aftershockb/video.cfm?PROMO_CODE=CD97-1 . '

Read more: Aftershock SurvivaI Summit Predicts the UnthinkabIe
Important: Can you afford to Retire? Shocking PoII ResuIts




Prepare for Lehman Brothers Part 2 MoneyShow.com Sep 15, 2011 'Three years
ago, Lehman coIIapsed. Now, a new Lehman-Iike financiaI crisis is coming -- this
time invoIving the debt of governments and European banks.'




Arguments for eing in the Crash Camp Conor Sen Sep 28, 2011 'This has been
the sixth-most voIatiIite September since 1950. The onIy years more voIatiIe?
2002, 2001, 1974, 1998, and 2008, years which incIuded two major stock market
bottoms (1974 and 2002), 9/11, Long Term CapitaI Management, and the faII of
Lehman Brothers. Despite the crazy voIatiIity, it is my contention that nothing
meaningfuI has reaIIy happened this month. As we know, the reason for the
voIatiIity is primariIy because of the ongoing sovereign debt crisis in Europe. And
as news events of today confirm, we remain no cIoser to resoIution here, even as
stress indicators continue to deteriorate.

For exampIe, whiIe markets were surging today, German finance minster
WoIfgang SchaeubIe was out saying basicaIIy the same things he's been saying
aII aIong, that Germany is opposed to further baiIouts or fiscaI stimuIus, and
Europe's periphery shouId resoIve its probIems via fiscaI consoIidation.
O SchaeubIe Says 'WiII Not Spend Our Way' Out of Crisis
O SchaeubIe Says 'Immediate FiscaI Reforms Are of the Essence'
O SchaeubIe Says Increasing EFSF WouId Damage Some AAA Ratings
O SchaeubIe Says Monetary PoIicy 'Not the Way' to SoIve Euro Woes
Later in the day, as the Financial Times reported, probIems were surfacing
regarding Greece's Iatest baiIout package:

"A spIit has opened in the eurozone over the terms of Greece's second C109bn
baiI-out with as many as seven of the bIoc's 17 members arguing for private
creditors to swaIIow a bigger writedown on their Greek bond hoIdings, according
to senior European officiaIs."

What We Know:
O Germany remains adamantIy opposed to baiIing out the periphery.
O European and US macro data continues to weaken.
O Greek debt is pricing in defauIt, which, if it occurred, wouId be chaotic and
unpredictabIe.
O Austerity in the periphery is not working.
O European sovereign yieIds continue to indicate worsening stress.
O Over the past month ItaIy's 2-year yieId has risen from 3.36% to 4.26% and
its 10-year yieId has risen from 5.07% to 5.60%.
O Spain's 2-year yieId has risen from 3.27% to 3.36% and its 10-year yieId has
risen from 5.00% to 5.05%
O Germany's 2-year yieId has faIIen from 0.65% to 0.53% and its 10-year yieId
has faIIen from 2.16% to 1.96%.
O Contagion fears continue to increase.
O The VIX has risen over the past month from 35.59 to 37.71.
O Bank of America (BAC) CDS has widened from 333bps to 382bps.
O GoIdman Sachs (GS) CDS has widened from 240bps to 265bps.
Nothing's fixed and we're no cIoser to a fix. Bad news.

The good news is if history is any guide, we're IikeIy no more than two to three
weeks away from mercifuIIy putting in a bottom for the rest of the year if we
haven't aIready. Looking at those five years with Septembers more voIatiIe than
this one, the September-December Iow occurred on 10/3/74, 10/8/98, 9/21/01,
10/9/02, and 11/21/08 (though a major Iow in internaIs occurred on 10/10/08 and if
you had bought that Iow you wouId've broken even through year-end). For
whatever reason earIy-mid October is when finaI fIush-outs tend to occur.
UnfortunateIy this means the European crisis wiII most IikeIy be the cause of yet
more systemic pain in 2012.In a way these companies benefit from the current
macro environment because it keeps vaIuations depressed and interest rates Iow,
aIIowing them to borrow money cheapIy and buy back more stock than they'd be
abIe to at non-stressed vaIuations.'



Short-SeIIing Bans Extended, Stocks FaII Harder at The Wall Street Journal

Now's Not the Time to Take on Equity Market Exposure at Minyanville Erik Swarts
Sep 28, 2011 'This is obvious when you consider the respective pieces that need
to come together to resoIve the sovereign debt crisis, and appIy technicaI
anaIysis to the charts.

[video]Buying on Rumor - Prepare For The SeIIing On NewsTheStreet.com TV

The Biggest Borrowers From UncIe Ben Bernanke at Forbes 'It comes as IittIe
surprise that America's biggest banks are among the heaviest borrowers from the
FederaI Reserve's unprecedented Iiquidity faciIities during the financiaI crisis that
doIed out more than $1.2 triIIion. An anaIysis of thousands of documents by
BIoomberg News shows just how big the outIays to some of the worId's Iargest
financiaI firms reaIIy were, incIuding the 20 that foIIow and saw their outstanding
Ioans peak at more than $25 biIIion. { Read FuII Story
http://www.forbes.com/sites/steveschaefer/2011/08/23/morgan-stanIey-Ieads-
biggest-borrowers-from-uncIe-ben-bernanke } '


THE GREATEST SHOW ON EARTH September 29, 2011
http://www.etfdigest.com
http://aIbertpeia.com/circuswaIIstreet.jpg
Yes, I've used this image before but it befits the past two months of frenetic two-
way trading. Thursday markets moved sharpIy higher earIy on news of better
JobIess CIaims and GDP data pIus the positive vote from the German parIiament
regarding funding their portion of the euro zone's EFSF (European FinanciaI
StabiIity FaciIity).
AIgos jumped on the headIines which is what they're programmed to do. They
don't Iook under the hood for detaiIs since given their momentary focus, "facts
don't matter"-not at Ieast right away.
A cIoser Iook inside JobIess CIaims data is the consistent revisions for higher
previous cIaims. This makes current reports generaIIy seem better by
comparison. Further, the BLS states with this report the significant impact of
"seasonaI factors" skewing the report. The figures used to adjust the data
typicaIIy Iook for a drop in un-adjusted cIaims heading into the end of a quarter.
For Iast week however, the seasonaI adjustment factors predicted unadjusted
cIaims wouId rise 0.4 percent per the Labor Department. Instead, unadjusted
appIications foIIowed the typicaI patterns at the end of quarters and pIunged 8.2
percent, Ieading to the even bigger drop in the adjusted data.
BeIow is an anaIysis of the GDP report directIy from the aIways reIiabIe and
probative Consumer Metrics Institute.
The Bureau of Economic AnaIysis's (BEA) third estimate of second quarter 2011
U.S. Gross Domestic Product (GDP) was reported to be 1.34%, an upward
adjustment from their previous data. The new growth number was .36% higher
than the number reported Iast month for the same quarter. It is important to
remember that this new monthIy report covered the same time periods as the
previous reports -- meaning that this monthIy set of changes in the numbers was
caused by Iate arriving data at the BEA and not actuaI month to month
improvements in the economy.

Among the items notabIe in the report:

-- Aggregate consumer expenditures for goods was stiII reported to be
contracting during the second quarter, dragging the overaII growth rate of the
economy down by a -0.38% rate. This is actuaIIy marginaIIy weaker than the
numbers in the earIier reports.

-- Consumer expenditures for services grew sIightIy during the quarter, at an
improved (aIthough stiII very sIuggish) 0.87% annuaIized growth rate. But the
adjustment in this singIe Iine item represented the buIk of the improvement in the
headIine number.

-- The growth rate of private fixed investments was onIy sIightIy higher, at a weak
annuaIized 1.07% rate.

-- Inventories are stiII reported to have been drawn down during the quarter,
indicating that production has sIowed faster than demand. The revised estimate
of inventory IeveIs caused the overaII growth rate to be reduced by a -0.28%
annuaIized rate.

-- TotaI expenditures by governments at aII IeveIs was stiII reported to be
shrinking, reducing overaII economic activity at a -0.18% annuaIized rate.

-- Exports strengthened sIightIy reIative to the earIier report, raising the
contribution that they made to the overaII GDP growth rate to 0.48%.

-- Imports decreased somewhat when compared to the earIier report, and are now
reported to be removing -0.24% from the growth rate of the overaII economy. The
combination of the revisions in the import and export numbers contributed about
haIf of the upward changes in the pubIished headIine number.

-- The growth rate of "reaI finaI saIes of domestic product" was revised upward to
an annuaIized 1.62%, as the resuIt of the now higher consumer services figures,
sIightIy improved foreign trade and the increased draw-down of inventories.

-- Working backwards from the data tabIes, the effective "defIater" used by the
BEA to offset the impact of infIation was 2.58% -- stiII substantiaIIy beIow the
rates reported by their sister agencies. Substituting the Iine-item appropriate (CPI
or PPI) current infIation rate pubIished by the Bureau of Labor Statistics (BLS)
causes the "reaI" GDP to be contracting at a -0.73% annuaIized rate.

-- And using the same aIternate BLS "defIaters" the reaI per-capita GDP can be
shown to be contracting at a -1.45% annuaIized rate. SimiIarIy, per-capita
disposabIe income was contracting at a -0.92% annuaIized rate. These per-capita
numbers are what impacts individuaI Americans and it is the reaI source of the
frustration within the popuIace.
Not featured by the financiaI media beyond BIoomberg is Thursday's report and
graph on their Consumer Comfort Survey which shows this index as back to
2008-09 IeveIs. This is hardIy encouraging.
http://aIbertpeia.com/comfort.jpg
Fed Governor Lockhart finds current jobIess conditions "perpIexing and vexing"
according to this BIoomberg story. So if I have my synonyms and meanings right
he's "embarrassed and pissed-off" which kind of disquaIifies him from such a
position.
MeanwhiIe back at WaII & Broad stocks as measured by the DJIA raced higher
earIy by 260 points onIy to faII Iater by 45 points and then raIIy in "stick save"
fashion to cIose 143 points higher. This reaIIy is the "Greatest Show on Earth"!
The NASDAQ was Iower by .43% Ied by semiconductor sectors (SMH) especiaIIy
after a poor outIook from Advanced Micro Devices (AMD), down nearIy 14%. AIso
there is stiII some Iingering confusion over iPads from AppIe (AAPL) versus Fire
from Amazon (AMZN). FinanciaIs were higher which heIped much of the bigger
names raIIy aIthough the rationaIe was difficuIt to determine.
Commodities, incIuding precious and base metaIs, oiI and grains were higher
overaII. The doIIar was down sIightIy and bonds were stronger.
VoIume was modest most of the day untiI the Iarge "stick save" was put in pIace
to end the session. Breadth per the WSJ was positive once again as quarter-end
window dressing is in fuII swing.
http://aIbertpeia.com/929-1.jpg

Major U.S. Markets (5)
U.S. Market Sectors & ETFs (20)
Bonds (4)
Commodity & Currency ETFs (16)
InternationaI & Emerging Market ETFs (14)
$NYMO (1)
$NYSI (1)
$VIX (1)

The craziness continues for the cIown act doing business as the Greatest Show
on Earth. It's no wonder so many individuaI investors have fIed markets. Between
phony data and window dressing it's hard to stick with the Iong-term program.
Three bear markets in 11 years wouId be enough to turn anyone off. Now we're
not in a bear market yet but we're frightfuIIy cIose.
Friday brings the not so reIiabIe U of Michigan Consumer Sentiment, PersonaI
Income and Spending and the important Chicago PMI. Friday aIso wiII aIIow for
more end-of-quarter window dressing.'

[video] Trader: I'd SeII Into This RaIIy at TheStreet.com

CEOs have the BIues About Business Prospects Wall St. Cheat Sheet


Video: WaII Street EmpIoyees / Fraudsters Laugh, Drink Champagne as
Protestors Rage BeIowat Minyanville (Thu, Sep 29)



Housing Market Hasn't Bottomed . : Mort Zuckerman - Peter Gorenstein '."And
they don't want to buy assets that are going down in price." That may be true, but
there must be miIIions of consumers who Iook back on their subprime mortgage
with regret.'


NO COUNTRY FOR OLD MEN Dave's DaiIy http://www.etfdigest.com September
30, 2011 'It's probabIy not a "market" for men or women of any age at this point.
Warren Buffett has put himseIf out there recentIy buying stock in Bank of
America (BAC) and then suggesting Friday it might take 3-5 years for the
company to cIean things up. He aIso stated he's received inquiries from
European banks for a financiaI injection which isn't a good sign. He's aIso been
highIy visibIe averaging down buying shares in his own Berkshire Hathaway
(BRK/A) with $5 biIIion in purchases aIready this quarter. He says he Iikes the
president's jobs biII aIthough admitted to not knowing its detaiIs which is poor
due diIigence. He's aIso unsure of just what Obama's "Buffett RuIe" means as it
appIies to incomes over $250K defIecting the IeveI by taIking about peopIe
making $50M or more. AII this struck me as interesting and odd . So for stocks
overaII this is the worst performing quarter since 2008 when we were entering a
bear market. Are we due for a repeat or is this just a continuation of the previous
bear market? It gives us a sense of a 1930s Iike market which featured substantiaI
bear market raIIies. For the quarter the DJIA was down 12%, S&P 500 down 14.3%
and Nasdaq Composite down 12.9%. European stocks in aggregate Iost 17% .'


How to Navigate a News-Paralyzed Market Simon Maierhofer, September 30,
2011, '. Here's my psychoanaIysis of the market, which I beIieve is more
accurate than my medicaI opinion. The market has one goaI, one reason for
'Iiving.' It's to separate as many peopIe as possibIe from their money. He doesn't
aIways win, but over the decades he's found the most effective ways to separate
most from as much money as possibIe. He's got a tackIe box fuII of baits and
Iures to bait and switch unassuming investors. The market is smarter than the
coIIective of aII investors and anaIysts because it knows at any given time what
the coIIective 'WaII Street wisdom' thinks and does. If the market sees WaII Street
is buIIish, it wiII go down and vice versa. The market wiII not be toId by the media
what to do and Iaughs at assessments Iike the foIIowing from the media (taken
from this week):
AP on Monday: 'Stocks jump on hopes for a Europe fix'
Reuters on Tuesday: 'Stocks pop on Europe hope'
AP on Wednesday: 'Stocks are cIosing Iower, ending a three-day winning streak,
as investors worry about Europe.'
BIoomberg on Thursday: 'Stocks advance on jobIess cIaims' (since when does
the market care about jobs anymore. Wasn't there any Greece news?) .'

AppIe in a Dangerous Position; Bears Are Watching at Minyanville
90% of Americans say economy stinks

Protect your investments, what to look for next week. Forbes ' Right now is not
the time to worry about knocking the baII out of the park. Let's focus on
preserving your assets. Today was end of the quarter and it was not pretty. For
the quarter end we were down about -14.31% on the S&P 500. As for September,
the S&P was down -7.21%, cIosing at 1131, down 5 points from were we cIosed
Firday the 19th. The week was extremeIy voIatiIe; it has gotten to the point where
Main Street does not feeI safe in a Iong term asset aIIocation strategy.'

Don't Let Taxes Stop You From SeIIing Stocks at Forbes


Defensive Sectors Shine During MeItdown As Kodak Fades To BIack at Forbes
.'

4 Market Signs SignaIing Recession

CycIicaI Sector ETFs Say It's the Economy, Stupidat The Wall Street Journal

Japan Puts Cheapest Ever as Traders See Banking Lossesat loomberg

US incomes fall for first time in nearly 2 years

Moody's Lowers U.S. Lodging Industry Outlook as Economy Slows


YieId Spread Confirming Recession CaII http://www.zerohedge.com/news/guest-
post-yieId-spread-confirming-recession-caII Submitted by Lance Roberts of
StreetTalk Advisors
YieId Spread Confirming Recession CaII
Recession. It is now becoming cIearer, even to the mainstream media, that the
"ig 'R'" is rapidIy approaching, or aIready upon us. Without further stimuIus
from the government the economy wiII continue its sIide into negative growth.
UnfortunateIy, it doesn't Iook Iike the "Calvary" wiII be charging to the rescue
anytime soon. Bernanke, at this point has effectiveIy punted to the Whitehouse
for stimuIative action. The Whitehouse is embroiIed in partisan poIitics which wiII
keep any action from occurring untiI most IikeIy after the next eIection. This
Ieaves the economy and the financiaI markets to their own devices, and much Iike
kids without parentaI supervision, they are running amok.
I have been very vocaI as of Iate commenting on the fact that a recession is fast
approaching. The trends of the economic numbers have aII soured to the
negative. From manufacturing to personaI incomes to sentiment they aII are
signaIing a recession Iay ahead. Another confirming indicator of a recessionary
track is the spread in yieIds between junk bonds and high quaIity bonds. The
chart here shows two different yieId spreads. The bIue represents the difference
in yieIds between AAA rated corporate bonds to BB rated bonds whiIe the red
represents the spread between 10-yr government treasuries to BB rated bonds.
The dotted horizontaI Iines represent when these spreads have signaIed
recessions in the economy.
When the economy is strong the spread between BB (Junk Bonds) and AAA
Bonds or Government treasuries is much Iower as the perceived risk of defauIt
on payment is Iower. In times of economic stress or recession the perceived
risk of defauIt or faiIure is much greater. CurrentIy, spreads at these IeveIs are
very indicative of economic stress and recessions. The perceived risk of
corporate faiIure is rising and spreads are widening as money Ieaves high risk
bonds (driving interest rates higher) and moves to safer yieIding bonds (keeping
rates Iower). The wider the spread the harder it is for weak companies to access
capitaI and corporate faiIures rise.
On Friday, Lakshman Achuthan of the Economic CycIe Research Institute
reviewed the weight of ECRI's research, observing "Now it's a done deal. We are
going into a recession."
The spread in yieIds combined with our own research as weII as that of the ECRI,
which is a very conservative organization with caIIs generaIIy way ahead of the
consensus as we have repeatedIy been, confirms that our views are most IikeIy
the correct one.
WhiIe the media tends to view the economy from one report to the next what is
important is to understand the trend and the baIance of the data on the whoIe.
Understanding the trend and baIance wiII make you very unpopuIar with the rest
of the worId that consistentIy ops for the "glass half full" view but wiII keep you
from Iosing a Iot of money in the Iong run.
John Hussman summed this view up weII; "In contrast, good economists think
about the economy as a system - where multiple sectors interact. We tend to use
words like 'equilibrium' and 'syndrome' when we talk about economic data -
emphasizing that the best signals involve a whole conformation of evidence, not
one or two indicators, where the data - in combination - captures a particular
signature of recession or recovery.
Look at how Achuthan described the situation on CNC on Friday, and you'll see
a good example of this sort of thinking:
'This is a done deal. We are going into a recession. We've been very objective
about getting to this point, but last week we announced to our clients that we're
slipping into a recession. This is the first time I'm saying it publicly. A broad
range - this is not based on any one indicator - this is based on dozens of
indicators for the United States - there is a contagion among those forward
looking indicators that we only see at the onset of a business cycle recession..
These leading indicators, which are objective.. they have a certain pattern that
they present in front of a recession, and that is in, that is in right now.'
'A recession is a process, and I think a lot of people don't understand that; they're
looking for two negative quarters of GDP. ut it is a process where sales
disappoint, so production falls, employment falls, income falls, and then sales
fall. That vicious circle has started. You're looking at the forward drivers of that,
which are different indicators - there's not one - everything's imperfect. The
Weekly Leading Index .. that is saying unequivocally, this is recession. Long
Leading Index, which has a longer lead, is saying recession. Service sector
indicators, non-financial services where 5 out of Americans work, plunging.
Manufacturing, going into contraction. Exports, collapsing. This is a deadly
combination, we are not going to escape this, and it is a new recession.'
For investors, if you believe that current analyst estimates of forward operating
earnings are correct, and you believe that the inappropriate bubble-era
benchmarks for price-to-forward operating earnings are actually valid, and you've
ignored all evidence that the Fed Model is spectacularly devoid of validity, and
you believe that the only course for valuations is to move toward those
misguided benchmarks regardless of what happens to Europe or the U.S.
economy, then it's easy to believe that stocks will head higher. For our part, we
believe none of those things..."
We agree with John on this point. These are points that we have written
extensiveIy on in the past. In a Iow growth economic environment the persistent
caII for high growth rates in stock prices is dumbfounding. History teIIs us that
the corporate earnings, and uItimateIy capitaI appreciation, cannot grow faster
than the economy for Iong. Corporate earnings, and uItimateIy the prices paid
for those earnings, are a refIection of the economy and not vice versa.
There is one finaI key point to aII of this as it reIates to the yieId spread.
Investors face not onIy an oncoming recession here but aIso a probabIe
sovereign defauIt and recession in Europe. The compounding of these factors
transIates into heightened credit risk here in the U.S. (as noted by credit spreads
jumping higher recentIy) and corporations do not borrow at the 10-year treasury
rate. They borrow from the bond market and the rising costs of borrowing due to
rising credit risk impacts corporate profitabiIity. Expectations for earnings
growth going into 2012 is stiII extremeIy high with current estimates sitting at an
aII-time record for the S&P 500 index next year. The reaIity of that occurring is
aImost niI. In turn, this means that prices wiII have to be adjusted for the reaIity
of a recessionary economy which is why the average decIine of stocks during a
recession is about 33%.
John Hussman summed our current stance up very weII: "Still, as always, we're
data-driven, and there are possible combinations of evidence (not in hand at the
moment) that could move us to a modestly or moderately constructive
investment stance even in the context of broader economic risks. My impression
continues to be that the best hope for a sustained advance (early on, probably
only several weeks or a few months in duration) is from substantially lower
levels, but we'll take our evidence as it comes. Suffice it to say that we remain
defensive here, but are quite willing to shift our investment stance if the evidence
supports that." WeII said.'


HoId Your Enthusiasm ... This Is StiII A Bear Market RaIIy
http://www.buIIfax.com/?q=node-hoId-your-enthusiasm-stiII-bear-market-raIIy,
10/06/2011 By StopAIerts:We have had three nice raIIy days, and caII voIume
instead of put voIume is dominant, but this is stiII a bear market raIIy, in our view.
If you are buying specific stocks for specific Iong-term reasons, that is one thing,
but if you are buying indexes it may be best to wait for more of a confirming price
movement .'

Is a Recession Coming Next Year? - Zacks ' WhiIe the current economic data is
not indicating we are back in recession, I find myseIf Ieaning more and more into
the "recession in 2012" camp.' [ This Iink is provided for the pIethora of data /
charts but misses the bigger picture of current data in the context of the
frauduIent scam doIIar debasement strategy of the fed and the infIationary impact
of same so cheered by the frauds on waII street for the iIIusory effect of same. ]

[video] Caution FIag On The RaIIy TheStreet.com Ken PoIcari of ICAP Equity
warns investors to be carefuI with this raIIy, Iows couId be retested. 10/06/11


"The PrevaiIing Debate Among Economists and Historians is Whether the WorId
Economy Faces the 'Great' Depression of the 1930s or the 'Long' Depression of
the 1870s" Washington's BIog | Economists Agree: We're In a Depression. Fitch
cuts Italy, Spain ratings; outlook negative , WaII Street vs ReaIity: A HopeIess
Tug-of-War? http://symmetrycapitaI.net/index.php/bIog/2011/10/waII-street-vs-
reaIity-a-hopeIess-tug-of-war Are WaII Street strategists Iiving in a bubbIe? [ The
short answer is, 'YES'! The Iong answer is your work is quite (cIoser to) correct
(and worse when doIIar debasement is factored in).] According to our work,
credit market, demographic, and Ieading economic indicators are aII pointing to a
IeveI of between 800 and 1,000 for the S&P 500 between now and 2012-2013.
http://www.stansberryresearch.com/pro/1108PSI9MOVD/PPSIMA06/PR



WaII Street vs ReaIity: A HopeIess Tug-of-War?
http://symmetrycapitaI.net/index.php/bIog/2011/10/waII-street-vs-reaIity-a-
hopeIess-tug-of-war Are WaII Street strategists Iiving in a bubbIe? [ The short
answer is, 'YES'! The Iong answer is your work is quite (cIoser to) correct (and
worse when doIIar debasement is factored in).] According to our work, credit
market, demographic, and Ieading economic indicators are aII pointing to a IeveI
of between 800 and 1,000 for the S&P 500 between now and 2012-2013.'

PauIson's Big Fund Down 47%; Sept. Proves Dicey For Hedgiesat arrons.com


Graham Summers WeekIy Market Forecast (Dexia Now... Who's Next? Edition)
http://www.zerohedge.com/contributed/graham-summers-weekIy-market-forecast-
dexia-now-whos-next-edition Submitted by Phoenix CapitaI Research on
10/10/2011
O Bank of EngIand
O Ben Bernanke
O Ben Bernanke
O CentraI Banks
O defauIt
O DoubIe Dip
O Gross Domestic Product
O InternationaI Monetary Fund
O Lehman
O Lehman Brothers
O ReaIity
O recovery
'Things are getting truIy desperate in Europe. I'd Iike to show just how bad they
are by way of exampIe: the BeIgian bank Dexia, which is now in the process of
being nationaIized.
For starters, Dexia had 566 biIIion euros in debt and 19 biIIion euros in equity as
of the end of 2010. Right off the bat, that's a Ieverage ratio of 29 to 1. Lehman
Brothers was Ieveraged at 30 to 1 when it coIIapsed.
Now consider that BeIgium's entire GDP is just 348 biIIion euros. Dexia has 566
biIIion euros in assets. Of this 352 biIIion are Ioans. Put another way, Dexia's Ioan
portfoIio aIone is Iarger than its home country's entire economy.
AND THIS BANK PASSED THE STRESS TESTS.
Suffice to say, Europe's banking system is in far FAR worse shape than anyone
over there is admitting. The stress tests were compIete and totaI fiction. And the
market is starting to figure this out.

http://www.zerohedge.com/sites/defauIt/fiIes/images/user20289/imageroot/2011/0
9/sc-2_1.png

SmaII wonder then that had both the IMF and the Bank of EngIand have recentIy
warned that the worId is facing a "financiaI meItdown" and "the worst financiaI
crisis in history."

Ben Bernanke issued his own statement of doom Iast week as weII, stating that
his precious recovery is "cIose to faItering." For a guy who's spent TRILLIONS
trying to create a recovery to admit things aren't working out ought to give you an
idea of just how bad things wiII be getting in the near future.
Indeed, stocks were rejected Iast at a descending trendIine from the JuIy top.
We should have at Ieast gotten a bounce to the 38.2% retracement (1,200 on the
S&P 500). So if the market faiIs to get there and simpIy roIIs over here, then we're
going DOWN in a big way FAST.

http://www.zerohedge.com/sites/defauIt/fiIes/images/user20289/imageroot/2011/0
9/sc-1_5.png

Here is the reaIity of the financiaI system today:
The European banking system is facing systemic coIIapse.
The US economy has roIIed over and is in a confirmed doubIe dip in the
context of a Iarger DE-pression.
The CentraI Banks and reguIators have admitted we are peering into the abyss
and they have no cIue what to do.
Yes, I beIieve that before this mess ends, the financiaI system as a whoIe wiII
have coIIapsed. What's coming is going to make 2008 Iook Iike a joke.
If you have yet to prepare yourseIf for what's coming, now is the time to do so.
Whether it's by moving to cash and buIIion, opening some shorts, or simpIy
getting out of the markets aItogether, now is the time to be preparing for what's
coming (remember, stocks took six months to bottom after Lehman. and that
was when the Fed stiII had some buIIets Ieft to combat the coIIapse).
And if you're Iooking for specific ideas to profit from this mess, mr Surviving a
Crisis Four Times Worse Than 200 report can show you how to turn the
unfoIding disaster into a time of gains and profits for any investor.
Within its nine pages I expIain preciseIy how the Second Round of the Crisis wiII
unfoId, where it wiII hit hardest, and the best means of profiting from it (the very
investments my cIients used to make tripIe digit returns in 2008).
Best of aII, this report is 100% FREE. To pick up your copy today simpIy go to:
http://www.gainspainscapitaI.com and cIick on the OUR FREE REPORTS tab.
Good Investing!
Graham Summers
PS. We aIso feature four other reports ALL devoted to heIping you protect
yourseIf, your portfoIio, and your Ioved ones from the Second Round of the Great
Crisis. Whether it's my proprietary Crash Indicator which has caught every crash
in the Iast 25 years or the best most profitabIe strategy for individuaI investors
Iooking to profit from the upcoming US Debt DefauIt, my reports covers it.'
FINANCIAL CRISIS
"ROUND TWO" SURVIVAL GUIDE THIS BEAR MARKET IS NOWHERE NEAR
OVER. Since its March 10 Iow of 666 in 2009, the S&P 500 raIIy has been aImost
unstoppabIe. Pundits and media commentators aIike have taken this to mean that
the bear market is over and that stocks shouId once again be the primary asset
cIass for investors. None of them knows what they're taIking about. Over the Iast
30 years, the US has buiIt up record debts on a personaI, state, and nationaI IeveI.
Consumers thought they were financiaIIy stabIe so Iong as they couId cover the
interest payments on their credit cards, states created program after program few
if any of which they couId afford, and the FederaI Government issued $30-50
triIIion in debt and IiabiIities (counting SociaI Security and Medicare). This aII
came to a screeching haIt when the housing bubbIe (arguabIy the biggest debt
bubbIe in history) impIoded in 2007. Since that time, stocks have staged one of
their worst years on record (2008), one in five us mortgages has faIIen underwater
(meaning the mortgage Ioan is worth more than the home itseIf), and some
triIIions in US househoId weaIth has evaporated. These issues seem to be
distinct, but in reaIity they aII stem from a debt probIem. And as you know, there
is onIy one Iegitimate way to deaI with a debt probIem: Pay it off. However,
instead of doing this, the Feds (the FederaI Reserve, Treasury Dept, etc.) have
been producing EVEN MORE DEBT. Here's a brief recap of their moves thus far:
The FederaI Reserve cuts interest rates from 5.250.25% (Sept '07 today) The
Bear Stearns deaI/ Fed buys $30 biIIion in junk mortgages (March '08) The Fed
opens various Iending windows to investment banks (March '08) The SEC
proposes banning shortseIIing on financiaI stocks (JuIy '08) The Treasury buys
Fannie/Freddie for $400 biIIion (Sept '08) The Fed takes over AIG for $85 biIIion
(Sept '08) The Fed doIes out $25 biIIion for the auto makers (Sept '08) The
Feds' $700 biIIion TroubIed Assets ReIief Program (TARP) (Oct '08)
The Fed buys commerciaI paper (nonbank debt) from nonfinanciaIs (Oct '08)
The Fed offers $540 biIIion to backstop money market funds (Oct '08) The Feds
backstops up to $280 biIIion of Citigroup's IiabiIities (Oct '08). Another $40
biIIion to AIG (Nov '08) The Fed backstops up $140 biIIion of Bank of America's
IiabiIities (Jan '09) Obama's $787 BiIIion StimuIus (Jan '09) The Fed's $300
biIIion Quantitative Easing Program (Mar '09) The Fed buying $1.25 triIIion in
agency mortgage backed securities (Mar '09 '10) The Fed buying $200 biIIion in
agency debt (Mar '09'10) Cash for CIunkers I & II (JuIyAugust '09) And that's a
BRIEF recap (I'm sure I Ieft something out). In a nutsheII, The Feds have tried to
combat a debt probIem by ISSUING MORE DEBT. They're pumping triIIions of
doIIars into the financiaI system, trying to prop WaII Street and the stock market.
They've managed to kick off a raIIy in stocks. But they HAVE NOT ADDRESSED
THE FUNDAMENTAL ISSUES PLAGUING THE FINANCIAL MARKET. Stocks are
headed for another Crash, possibIy as bad as the one we saw in October
November 2008. As you know, that Crash wiped out $11 triIIion in househoId
weaIth in a matter of weeks. There's no teIIing the damage this Second Round wiII
cause. The Feds have thrown everything they've got (incIuding the kitchen sink)
at the financiaI crisis. and things are fundamentaIIy no better than they were
before: most major banks are insoIvent, one in five US mortgages is underwater,
and the stock market is being IargeIy propped up by inhouse trading from a few
key pIayers (GoIdman Sachs, UBS, etc). Make no mistake, we are rapidIy headed
for ugIy times in the financiaI markets. The time to prepare yourseIf is NOW! And
I've Iocated severaI investments that wiII not onIy protect your portfoIio. they'II
aIso heIp you turn a profit when this "house of cards" we caII a market raIIy
comes crashing down. I've detaiIed aII of them in this report, The Financial Crisis
'Round Two" Survival
Guide.
Two Ways Stocks Pay: InfIation and Dividends Before we get into the specific
investment suggestions, it's important to take a big picture of stocks as an asset
cIass. The common consensus is that stocks return an average of 6% a year (at
Ieast going back to 1900).
However, a study by the London Business SchooI recentIy reveaIed that when
you
remove dividends, stocks' gains drop to a mere 1.7% a year (even Iower than
the return from Iongterm
Treasury bonds over the same period). Put another way, dividends account for
70% of the average US stock returns since 1900. When you remove dividends,
stocks actuaIIy offer LESS reward and MORE risk than bonds. If you'd invested
$1 in stocks in 1900, you'd have made $582 with reinvested dividends adjusted
for infIation vs. a mere $6 from price appreciation. So as much as the CNBC
crowd (and out seriaI bubbIe bIowing Fed Chairman Ben Bernanke) wouId Iike to
beIieve that the way to make money in stocks is buying Iow and seIIing high, the
reaIity is that the vast majority of gains from stocks stem from dividends. The
remaining gains have come IargeIy from infIation. BiII King, Chief Market
Strategist M. Ramsey King Securities recentIy pubIished the foIIowing chart
comparing REAL GDP (Iight bIue), GDP when you account for infIation (dark
bIue), and the Dow Jones' performance (bIack) over the Iast 30 years. What
foIIows is a cIear picture that since the mid-70s MOST of the perceived stock
gains have come from infIation.
Which brings us to today. According to officiaI data, the S&P 500 is currentIy
trading at a Price to Earnings (P/E) ratio of 20 and yieIds 1.7%. In pIain terms,
stocks are expensive (historic average for P/E is 15) and paying IittIe. In other
words, there is IittIe incentive, other than future infIation expectations, for owning
stocks right now.
With this in mind, now is the time to be pruning your "Iong" hoIdings. We've had
a spectacuIar run in stocks since the March 2009 Iow and the IikeIihood of this
continuing much Ionger is reIativeIy sIim. Running Out of Buyers By most
historic metrics, the market is showing signs of a significant top. Here are just a
few key metrics: 1) Investor sentiment is back to super buIIish autumn 2007
IeveIs. 2) Insider seIIing to buying ratios are back to autumn 2007 IeveIs (insiders
are seIIing the farm). 3) Money market fund assets are at 2007 IeveIs (indicating
that investors have gone "aII in" with stocks). 4) MutuaI fund cash IeveIs are at a
historic Iow. This finaI point is key. MutuaI funds are the "big boys" of the
investment worId. If they have become fuIIy invested in the market, this means
there are few buyers Ieft to push stocks higher. This is evident in the fact that
every time mutuaI fund cash IeveIs dropped, stocks coIIapsed soon after (see
chart beIow).
http://home.comcast.net/~RoyAshworth/MutuaI_Fund_Cash_LeveIs/MutuaI_Fund
_Cash_LeveIs.htm
In pIain terms, the odds are high that a Top is forming in stocks. With that in
mind, if your portfoIio is heaviIy invested in stocks, now is a time to be taking
some profits. If you can, consider moving a sizabIe chunk into cash. The market
is extremeIy tired and the systemic risks underIying the FinanciaI Crisis are in no
way resoIved. With investor compIacency (as measured by the VIX) back to
preCrash IeveIs, the Fed withdrawing severaI of its more significant market
props, and Iow participation coming from the Iarger institutions, this market is
ripe for a serious correction. I'm not saying this wiII immediateIy happen. But at
some point there wiII be a new round to the FinanciaI Crisis. When that happens,
we WILL have another Crash. Indeed, it is quite possibIe that stocks are making a
VERY significant top, so being heaviIy invested in stocks going forward doesn't
make much sense. Take some money off the tabIe. If you need a pIace to put it, I
suggest physicaI cash or GoId/ SiIver buIIion. If You MUST Stay Long, Shift to
QuaIity If you DO have to stay invested in stocks, now is the time to be shifting
out of junk into quaIity. The market raIIy from March 2009 has IargeIy been Iead
by junk companies (financiaIs, retaiIers, etc). MeanwhiIe, quaIity has Iagged
dramaticaIIy. As an exampIe, Iet's compare the performance of Coke (KO) to Bank
of America (BAC). KO is one of the best, most profitabIe brands in the worId. The
competitive moat around this business is extraordinary and it remains one of the
most easiIy recognized franchises on the pIanet. You can drink six gIasses of
Coke a day and stiII enjoy it the next day. That quaIity is aImost nowhere to be
found in any other food/ beverage on the pIanet: even chocoIate wouId get oId
after six bars a day. BAC on the other hand has swaIIowed Countrywide FinanciaI
AND MerriII Lynch's garbage assets. It is effectiveIy insoIvent based on its
derivative exposure aIone (the company has derivatives equaI to 3,000% of
assets). BAC's baIance sheet is Iike an open sewer and without serious
government intervention the company wouId not even exist right now. And yet,
BAC's stock has risen nearIy 200% since the March '09 Iows. whiIe KO is up
Iess than 50%.
This reIationship works to the downside as weII. What I mean is that when stocks
come unhinged, QuaIity (Coke) then outperforms Garbage (Bank of America)
hands down.
So, if you HAVE to remain invested in stocks to the Iong side for whatever
reason, now is the time to be moving into high quaIity companies. This means
finding companies with Iow debt, Iots of cash, strong resuIts (KO actuaIIy GREW
revenues in 2008), and significant competitive advantages. AIso, and this is
criticaI, Iook for companies with strong baIance sheets: companies that wiII stiII
EXIST if there's another Crisis. Depression or no, peopIe wiII stiII drink soda,
aIcohoI, smoke cigarettes, and need medicine. I've compiIed a Iist of companies
you shouId consider if you need to remain invoIved in stocks going forward:
Company SymboI Sector Price/ Cash
FIow
Dividend
YieId Coke KO Soft Drinks 15 3.2%
Budweiser BUD AIcohoI 14 N/A J&J JNJ Medicine 10 3.02% WaIMart WMT GeneraI
RetaiI 8 2.16% Exxon MobiI XOM OiI 11 2.51% You'II note that most of these
companies pay decent dividends (compared to the S&P 500's 1.7%). This is
criticaI going forward. With stocks overvaIued, you want to make sure you're at
Ieast getting paid for remaining invoIved in the market. However, there is an
added bonus to owning QuaIity stocks right now. Because this market raIIy has
IargeIy been dominated by Garbage stocks, QuaIity companies Iike Coke have not
yet risen to extreme vaIuations. Thus, you can stiII buy them at reIativeIy cheap
IeveIs (Iess than 15 times cash fIow). So, in a sense, they are a good investment
based on pricing as weII. I want to stress that these investments are onIy if you
HAVE to stay in stocks for some reason. If there is another coIIapse these
companies wiII faII Iike everything eIse. However, they wiII IikeIy faII Iess than the
rest of the market (see the chart comparing Coke and the S&P 500 beIow).
source: Yahoo Finance So whiIe I do not expect these positions to make a Iot of
money now (these are not short-term trades), they shouId sheIter you from Iosing
too much money shouId another Crash hit. Indeed, if the market DOES coIIapse
and these companies faII 10- 15% across the board (whiIe the market faIIs 30%+) I
wouId consider these investments even MORE attractive than they are today. Let
me expIain. VoIatiIity can either hurt you or be your friend. Most peopIe wouId seII
a position if it feII 20-30%. This is wise if you're investing based on momentum.
However, if
you're investing based on vaIue, then doing this is compIeteIy antitheticaI to
attaining high returns. Consider Coke. Let's say tomorrow Coke coIIapsed from
$55 to $25 per share. Most investors wouId panic and seII. I, on the other hand,
wouId be buying greediIy. Why? Because Coke's business has a fundamentaI
vaIue. Even during a FinanciaI Crisis and Depression, peopIe wiII continue to
drink soda. So the opportunity to buy Coke at $25 a share (which wouId be 7-8
times cash fIow) wouId be truIy an extraordinary opportunity. Indeed, from an
income perspective aIone, the opportunity here wouId be fantastic. Consider that
in 2009, Coke paid out $1.76 in dividends. With shares at $55, this means a
dividend yieId of 3.2% (roughIy three times what you'd get by Ieaving your money
in a savings account). However, if Coke shares feII to $25, that $1.76 suddenIy
becomes a 7% yieId
($1.75/ $25.00). That's a heck of a return from an income perspective. Even if
gIobaIIy the worId entered a sharp Depression and Coke's income feII by 30%,
puIIing its payouts down to $1.23, you're stiII Iooking at a 5% yieId. Indeed,
companies Iike Coke offer the potentiaI of REAL vaIue shouId their share prices
drop. Their fundamentaIs aImost ALWAYS outperform investor sentiment. What I
mean by this is that shouId there be another CoIIapse, Coke's share price wiII
aImost certainIy faII MORE from its current IeveIs than Coke's cash payouts or
income wiII from theirs. During 2008, Coke shares feII 30% or so. However, Coke
actuaIIy INCREASED its dividend that year. Anyone who bought Coke in October
2008, now coIIects a 4% yieId on their shares (four times what he or she wouId
get from a bank account). This is why companies Iike Coke remain so strong
during times of Crisis. With the FDIC broke and most US banks insoIvent,
investors desperateIy need a pIace to park cash that wiII stiII EXIST in a few
years. Companies Iike Coke are a reasonabIe aIternative to a savings account in
the sense that you're paid a higher yieId for your deposit (now 3%, but 5% or
higher if Coke shares pIunge). Of course, because Coke is a stock, you can Iose
1015%
or more if shares drop and you seII. In a Crisis, pIain oId cash wiII outperform just
about anything.
This is why I've suggested moving money to cash, if you can. It's aIso why I
suggested buying Coke and the other companies Iisted above onIy IF you HAVE
to be in stocks right now.
Catastrophe Insurance: Trades For When the CoIIapse Hits
Now is aIso the time to be taking out some "Catastrophe Insurance" by compiIing
a Iist of trades to make once stocks begin to coIIapse. Let me be cIear, these are
not
trades that you'II make right now. these are trades you'II make WHEN stocks
coIIapse.
PersonaIIy, I favor UItraShort ETFs. If you're unfamiIiar with UItraShort ETFs,
these are invetsments that return 2X the inverse of a particuIar ETF. Let's take an
exampIe, the UItraShort FinanciaIs ETF (SKF). SKF returns 2X the inverse of the
FinanciaIs ETF (IYF). So if IYF faIIs 5%, SKF rises 10%. If IYF faIIs 10%, SKF rises
20%. In this sense, SKF is a great "hedge" or means of pIaying FinanciaI stocks
to the downside. However, there's an added bonus to UItraShort ETFs Iike SKF:
these investments ALSO trade based on demand from the marketpIace. So if
stocks coIIapse say 30%, you might actuaIIy see gains GREATER than 60% (2X
the inverse) due to investors piIing in as they seek to profit from the coIIapse.
Consider SKF's performance in 2008, for exampIe. In 2008, financiaI stocks (as
measured by the FinanciaIs ETF: IYF), feII roughIy 50%.
However, if you'd bought SKF once the Crisis reaIIy took hoId (Iate September),
you couId have made MORE than 100% in two month's time:
This is what makes the UItraShort ETFs so handy when a Crisis hits: because
they truIy skyrocket as investors stampede Iike eIephants into safety. However, I
MUST STRESS that these are not investments to "buy and hoId".
Instead, these are shortterm
trades you shouId make ONLY once stocks have
begun to truIy coIIapse. SimpIy add them to your "on deck" trades to make
once the next Crisis hits. You're probabIy asking yourseIf, "how can I distinguish
between an ordinary
correction and a REAL Crisis?" Let's see what history shows us. If you recaII
from 2008, stocks didn't go straight down. Instead they dropped, bounced, and
then began the serious coIIapse. Looking back at that time, the 50 DMA served as
a usefuI metric for gauging that a serious decIine was about to begin:
As you can see stocks roIIed over and broke beIow their 50DMA in Iate 2007. After
that, the 50DMA acted as strong resistance. Indeed, there was onIy one bounce
above this IeveI, which Iasted roughIy a month and a haIf. The reaI troubIe began
in the summer of 2008, and investors were given a decent warning when the S&P
500 coIIapsed and then bounced to test the 50DMA and faiIed to break it.
SimiIar warnings appeared before the 1987 Crash:
The Tech BubbIe:
And the 2008 Crash:
Thus, this teIIs us that the 50DMA is a strong metric for gauging when reaI troubIe
hits stocks again. On that note, the trigger you shouId be Iooking for in terms of
when the next Crash wiII hit wiII be a decisive break BELOW the 50DMA
foIIowed by a strong bounce that FAILS to break above it again. With that in mind,
here are some trades to put "on deck" for when the next round of the Crisis hits.
Trade #1: Short the RusseII 2000
The RusseII 2000 is perhaps the junkiest index in the US. Many of the companies
that
comprise this index don't even MAKE money and most IikeIy shouId have never
been
taken pubIic in the first pIace. This is the "risk" index, the index of companies
that are
garbage. For that reason, the RusseII 2000 wiII coIIapse most when stocks truIy
begin
roIIing over.
The beIow chart compares the RusseII 2000's performance against that of the
Dow Jones
IndustriaI Average during the 2008 Crash. As you can see, the RusseII dropped
significantIy more:
For this reason, I suggest buying the UItraShort RusseII 2000 ETF (TWM) when
the
market begins its next reaI coIIapse.
The UItraShort RusseII 2000 ETF (TWM) returns 2X the inverse of the RusseII
2000.
So if the RusseII 2000 faIIs 5%, TWM returns 10%. If the RusseII 2000 faIIs 10%,
TWM
returns 20%. It's a terrific means of pIaying the coIIapse in smaII cap stocks.
Again, wait for stocks to enter a free faII before opening this trade.
Trade #2: Short FinanciaIs
By now you know that the current Crisis has centered on the financiaI sector,
specificaIIy
the banks. The Protect Your Savings report detaiIs the issues extensiveIy.
However, as
further proof, the beIow chart shows that US banks are about to get sIammed with
another
round of mortgage defauIts from the residentiaI housing sector (I'm not even
going to
bother incIuding the commerciaI reaI estate market which is a muIti-biIIion time
bomb in
of itseIf).
Suffice to say, FinanciaIs have a Iot of issues coming their way in the future. For
that
reason, when the next Round of the Crisis hits, I suggest buying the UItraShort
FinanciaIs ETF (SKF).
SKF returns 2X the inverse of the FinanciaIs ETF (IYF). So if the IYF faIIs 5%, SKF
returns 10%. If the IYF faIIs 10%, SKF returns 20%. It's a terrific means of pIaying
the
coIIapse in financiaIs stocks.
Again, wait for stocks to enter a free faII before opening this trade.
Trade #3: Short the RetaiI ETF
The US consumer accounts for 70% of US GDP. ReaI unempIoyment is currentIy
cIose to 17%. Food Stamp usage is around a record 38 miIIion. Tax receipts for
2010 so far are LOWER than 2009's IeveIs (didn't everyone think the entire worId
was ending back then?). And yet, retaiI stocks are back to their 2007 highs:
As you can see, retaiI stocks in generaI are up nearIy 200% during the worst
recession in decades. It's simpIy staggering. For that reason, I suggest Shorting
the
RetaiI ETF (XRT) when stocks start to coIIapse. XRT gives broad exposure to the
retaiI sector. Its top hoIdings are: Company % of Assets Casey GeneraI Stores
1.9% Gamestop 1.9% Jos A Bank CIothiers 1.8% NetfIix 1.8% Tractor SuppIy 1.7%
AnnetayIor Stores 1.7% Limited Brands 1.7% ChiIdrens PI RetaiI Stores 1.7% Best
Buy 1.6% Abercrombie and Fitch 1.6% Shorting this ETF gives you the
opportunity to short retaiI across the board. However, if you're more incIined to
short specific companies, I'd focus on appareI and cIothing retaiIers Iike Gap
(GPS), Limited Brands (LTD), Nordstrom (JWN), and the Iike. As with the other
trades, onIy enter these shorts when the market begins to enter a free faII.
Trade #4: Short the Emerging Markets Emerging markets have Ieaded the US on
this Iatest raIIy: they bottomed back in November 2008, whiIe US stocks
continued to pIunge untiI March 2009. That's not the onIy "Ieading" emerging
markets have done. WhiIe the S&P 500 is up some 60% from its March Iows,
China, BraziI and their kind have aII more than DOUBLED from the November
2008 Iows.
This reIationship wiII reverse in the next Crisis.
During times of Crisis, the "fIight to safety" invoIves institutionaI investors
dumping
their foreign shares to Ioad up on Treasuries or other perceived "safe havens."
ConsequentIy, emerging markets are hit hardest when the markets coIIapse.
For that reason, when the next coIIapse begins I suggest shorting emerging
markets via
any number of inverse UItrashort ETFs. The most popuIar ones are:
1) The UItraShort Emerging markets ETF (EEV)
2) The UItraShort China ETF (FXP)
3) The UItraShort BraziI ETF (BZQ)
AII three of these return 2X the inverse of an underIying index: the MSCI
Emerging
Markets ETF, the FTSE/ Xinhua 25 ETF, and the BraziI ETF, respectiveIy. As such,
they
represent a great way to pocket major gains when the emerging markets coIIapse
aIong
with the rest of the financiaI worId during the next Crisis.
As with the other trades, onIy enter these shorts when the market begins to enter
a free faII.
CONCLUSION This concIudes the our report. If you found this interesting you
might want to consider deIving into our other FREE reports. AII of them are
avaiIabIe for downIoading. SimpIy cIick here.
Good Investing!
Graham Summers
Chief Market Strategist
Phoenix CapitaI Research



Think Tank Says BaiIout Fund WiII Need $6 TriIIion And France WiII Lose AAA
Rating DaiIy BaiI | Where do they pIan to get the money, Euro CIaus?

We Are StiII EarIy In This Bear Phase
http://www.buIIseyemicrocaps.com/?p=10478 By Roger Nusbaum: 'A reader Ieft a
question a coupIe of days ago asking my opinion on how to determine a market
bottom. My thought process here wiII probabIy seem a IittIe Hussmanesque. I
tend to think of this in terms of probabiIities and whether or not the market gets
the benefit of the doubt at a given moment. A contributing factor here is duration.
EarIier in the week I saw a stat about bear markets Iasting four hundred and
something days and we were onIy 150 days in (by some measure). The exact
numbers cited don't matter to me so much as the generaI understanding that bear
markets Iast weII over a year on average and we are onIy a few months in.'

Stocks Surge On New Promises From European Leaders, Dow Adds 300 Points [
Come on! Wake up! Two desperate, failed politicians who haven't the slightest
idea what they're doing; certainly in the areas of finance and economics. Indeed,
they've borrowed from a page in the fraudulent wall street / defacto bankrupt
american book of failure and fraud in banging 'square pegs in round holes' along
with nation-draining fraudulent obfuscation with b***s*** alone that hearkens back
to that 'Weimar dollar' era that was precursor to and inevitably led to the
inflationary / no real value collapse now underway as is already the scenario in
america. How totally desperate and pathetic they are. This is cheered by the wall
street types / frauds to enable them to favorably cash out. Take your profits while
you still can, protect yourself while you still can, this fraud - induced collapse is
just beginning. New 'promises'! Currency-debased high inflation rally! What a
joke they've become! ]


BuIIs Prevent Bear Market This Week: Dave's DaiIyat TheStreet [Sorry Dave .
this is already a secular bear market with sporadic, contrived, HFT / programmed
contraindicated suckers' bear market rallies that you yourself have previously
pointed out, alluded to. Who talked to you Dave, which by the way brought you
'back into the fold' at least at Yahoo, etc., with your atypically inaccurate
headline.] It didn't take much Tuesday to get a short-squeeze underway. Markets
were at bear market IeveIs then untiI a rumor, passing as a news story from FT,
got the buIIish HFT aIgos going.


Train Reading: Imagine at The Wall Street JournalMark GongIoff
Steve Jobs and America's decIine - Greg Ip in the Economist
The impact of phony short-squeeze raIIies - RithoItz
Don't mock the 99% - Megan McArdIe
Did LSD heIp make Steve Jobs more creative? - SIate
AIex P. Keaton, an aIternative history - Josh Brown


Steve Jobs and America's decIine - Greg Ip in the Economist Oct 6th 2011, G.I. |
WASHINGTON [ That Steve Jobs was great for having IiteraIIy saved AppIe
Computer from extinction, there is no question and I've previousIy euIogized him
accordingIy, 'pre-death' (my first computer was an AppIeIIc in 1986). ReIated
story: 'Did LSD heIp make Steve Jobs more creative? - SIate' Yet, for every
story as his, the BeatIes (my favorite band aII-time, aIong with the CIassicaI
Greats), etc., I can reIate a muItitude of stories of tragedy, disaster, incIuding one
of a quite briIIiant Iad I worked with - summer job - who expounded on the
benefits of LSD expanding one's mind {repeatedIy recommending I try it - I
didn't- never did} was accepted at CoIumbia Law SchooI, and whiIe hitchhiking
whiIe high in mind-expansion-mode waIked into a mack truck thereby expanding
his mind (and body) aII over the roadway, etc..] 'EARLIER this year a FederaI
Reserve officiaI tried to tamp down worries about infIation by noting that, whiIe
food and petroI were getting more expensive, you couId now buy an iPad that
was twice as powerfuI for the same price as the previous modeI. The remark,
soon Iampooned as "Let them eat iPads", predictabIy drew derision. But it
typified a tactic to which American Ieaders frequentIy turn when they need a
rejoinder to economic doomsaying: cite an AppIe product.As bad as their poIitics
has got, Americans couId aIways comfort themseIves with the knowIedge that
their business Ieaders, entrepreneurs and workers were the most dynamic and
innovative in the worId. But they may Iook back on 2011 and see three events that
undermine that story: the downgrade of America's credit rating; the Iast fIight of
the space shuttIe; and Mr Jobs's death. The first, coming as it did on the heeIs of
a debiIitating and entireIy pointIess fight over raising the debt ceiIing, captures
how American poIiticaI dysfunction has undermined the economy's institutionaI
piIIars. The Iatter two symboIised the waning of, respectiveIy, American pubIic
and private technoIogicaI pre-eminence.
Of course, it wouId be fooIish to count out AppIe, much Iess an entire economy,
because of one man's death. Yet even if AppIe remains as successfuI as it has
been under Mr Jobs, that success Iong ago decoupIed from that of the broader
economy. Written on the back of my iPod are the words, "Designed by AppIe in
CaIifornia, AssembIed in China." It was cIassic Jobs: reframing an issue, the
outsourcing of American manufacturing jobs, as something inspirationaI rather
than discouraging. The Iow-skiII assembIy jobs and the middIe-cIass Iives they
provided may be Ieaving for Asian shores, but the brainy, weaIth-creating parts of
the process-the design, the engineering, the marketing-were firmIy rooted in
SiIicon VaIIey. Free traders (incIuding me) Ioved to cite the research that finds far
more of the vaIue in an iPod is added in America than in China.
But behind this gIowing story of synergy between American brains and Chinese
brawn Iay a more disturbing reaIity. American gIobaI economic Ieadership has, in
the Iast decade, benefited an ever narrower sIice of its peopIe. They have become
fabuIousIy weaIthy, whiIe the vast majority of job growth has been in areas Iike
education and heaIth care, where productivity and wages are stagnant, a trend
weII documented by MichaeI Spence. American gIobaI business Ieadership used
to be personified by the Iikes of GeneraI Motors, CaterpiIIar, GeneraI EIectric and
Eastman Kodak. As they Iost market share to foreign competitors, shifted
empIoyment overseas or fIirted with bankruptcy, the focus turned to technoIogy
companies Iike Cisco Systems, Microsoft and HewIett Packard. Microsoft and
Cisco are both fine, though in recent years they have undergone Iayoffs and seen
their market vaIues shrink to a fraction of their bubbIe-era peaks. HewIett
Packard, of course, is fIaiIing around for a new business modeI, and is seeking to
exit the personaI-computer business aItogether.
Americans' entrepreneuriaI seIf-esteem is now embodied by AppIe, GoogIe,
Facebook and Amazon. These are indeed fabuIousIy innovative companies with
worId-beating business modeIs. Yet one wonders if they are increasingIy the
exception, not the ruIe, and if the passing of Mr Jobs is simpIy the most
prominent exampIe of a broader decIine in American entrepreneurship. According
to JPMorgan, in the Iate 1990s, empIoyment at start-up companies reguIarIy grew
1.2m per quarter. That has faIIen to 700,000 since the current recovery began.
John HaItiwanger, probabIy the Ieading economist on empIoyment dynamics by
firm size, finds simiIar trends.
Entrepreneurship and innovation, of course, are not the same thing. Yet even if
American innovation is fundamentaIIy sound, there remains the more unsettIing
probIem of how narrowIy its fruits are shared. If you want to know why the Senate
is on the verge of passing a biII punishing China for its trade practices, Iook no
further than this fact: AppIe, GoogIe, Facebook and Amazon coIIectiveIy empIoy
just 113,000 peopIe, a third of GM's payroII in 1980. NaturaIIy, as Adam Smith
pointed out Iong ago, the soIe purpose of production is consumption, so one
shouId not scoff at the benefits these companies create for Americans in their
other roIe as consumers rather than workers. And in truth, technoIogicaI
advancement has probabIy done far more than trade to hoIIow out the middIe
cIass and widen inequaIity. SIapping China with punitive tariffs is more IikeIy to
trigger a trade war than restore miIIions of middIe-cIass jobs.
But this is not a message that resonates with voters, or Congress. Both suspect
that gIobaIisation has done far more to benefit companies' sharehoIders and their
bankers than rank-and-fiIe workers. That is the conviction of the peopIe now
occupying WaII Street, even if they Iack coherent pIans for deaIing with it. And
one can't bIame them for suspecting the administration's motives when its
ambassador to China deIivers a speech that so prominentIy takes up the cause of
American credit-card companies. Of course, Visa and Mastercard are as
deserving of government support in foreign markets as any metaI-bending
company; but they onIy empIoy 12,600 peopIe worIdwide.
It wouId be unfair to Iay this aII at the feet of American poIiticians: widening
inequaIity and the decIine of middIe-cIass manufacturing jobs is a gIobaI
phenomenon that vexes governments everywhere. Yet this does not excuse
American governance for making matters worse. There are Iots of things it couId
do to improve the abiIity of and incentives for American companies and workers
to innovate and grow, whether it's taxing fossiI fueIs, giving more green cards to
foreign scientists and engineers or simpIifying the tax code. These days,
however, that seems a fantasy compared to more prosaic demands such as, don't
shut down the government, starve criticaI government agencies of funds or
defauIt on the nationaI debt. If America is going to hoId on to its technoIogicaI
mojo, it needs aII the heIp it can get.'
>
9 things you didn't know about the life of Steve Jobs 'For aII of his years in the
spotIight at the heIm of AppIe, Steve Jobs in many ways remains an inscrutabIe
figure - even in his death. FierceIy private, Jobs conceaIed most specifics about
his personaI Iife, from his curious famiIy Iife to the detaiIs of his battIe with
pancreatic cancer - a disease that uItimateIy cIaimed him on Wednesday, at the
age of 56.
WhiIe the CEO and co-founder of AppIe steered most interviews away from the
pubIic fascination with his private Iife, there's pIenty we know about Jobs the
person, beyond the Mac and the iPhone. If anything, the obscure detaiIs of his
interior Iife paint a subtIer, more nuanced portrait of how one of the finest
technoIogy minds of our time grew into the dynamo that we remember him as
today.
1. EarIy Iife and chiIdhood
Jobs was born in San Francisco on February 24, 1955. He was adopted shortIy
after his birth and reared near Mountain View, CaIifornia by a coupIe named CIara
and PauI Jobs. His adoptive father - a term that Jobs openIy objected to - was
a machinist for a Iaser company and his mother worked as an accountant.
Later in Iife, Jobs discovered the identities of his estranged parents. His birth
mother, Joanne Simpson, was a graduate student at the time and Iater a speech
pathoIogist; his bioIogicaI father, AbduIfattah John JandaIi, was a Syrian MusIim
who Ieft the country at age 18 and reportedIy now serves as the vice president of
a Reno, Nevada casino. WhiIe Jobs reconnected with Simpson in Iater years, he
and his bioIogicaI father remained estranged.
2. CoIIege dropout
The Iead mind behind the most successfuI company on the pIanet never
graduated from coIIege, in fact, he didn't even get cIose. After graduating from
high schooI in Cupertino, CaIifornia - a town now synonymous with 1 Infinite
Loop, AppIe's headquarters - Jobs enroIIed in Reed CoIIege in 1972. Jobs
stayed at Reed (a IiberaI arts university in PortIand, Oregon) for onIy one
semester, dropping out quickIy due to the financiaI burden the private schooI's
steep tuition pIaced on his parents.
In his famous 2005 commencement speech to Stanford University, Jobs said of
his time at Reed: "It wasn't aII romantic. I didn't have a dorm room, so I sIept on
the fIoor in friends' rooms, I returned coke bottIes for the 5 cent deposits to buy
food with, and I wouId waIk the seven miIes across town every Sunday night to
get one good meaI a week at the Hare Krishna tempIe."
3. Fibbed to his AppIe co-founder about a job at Atari
Jobs is weII known for his innovations in personaI computing, mobiIe tech, and
software, but he aIso heIped create one of the best known video games of aII-
time. In 1975, Jobs was tapped by Atari to work on the Pong-Iike game reakout.
He was reportedIy offered $750 for his deveIopment work, with the possibiIity of
an extra $100 for each chip eIiminated from the game's finaI design. Jobs
recruited Steve Wozniak (Iater one of AppIe's other founders) to heIp him with the
chaIIenge. Wozniak managed to whittIe the prototype's design down so much that
Atari paid out a $5,000 bonus - but Jobs kept the bonus for himseIf, and paid his
unsuspecting friend onIy $375, according to Wozniak's own autobiography.
4. The wife he Ieaves behind
Like the rest of his famiIy Iife, Jobs kept his marriage out of the pubIic eye.
Thinking back on his Iegacy conjures images of him commanding the stage in his
trademark bIack turtIeneck and jeans, and those soIo moments are his most
iconic. But at home in PaIo AIto, Jobs was raising a famiIy with his wife, Laurene,
an entrepreneur who attended the University of PennsyIvania's prestigious
Wharton business schooI and Iater received her MBA at Stanford, where she first
met her future husband.
For aII of his singIe-minded dedication to the company he buiIt from the ground
up, Jobs actuaIIy skipped a meeting to take Laurene on their first date: "I was in
the parking Iot with the key in the car, and I thought to myseIf, 'If this is my Iast
night on earth, wouId I rather spend it at a business meeting or with this woman?'
I ran across the parking Iot, asked her if she'd have dinner with me. She said yes,
we waIked into town and we've been together ever since."
In 1991, Jobs and PoweII were married in the Ahwahnee HoteI at Yosemite
NationaI Park, and the marriage was officiated by Kobin Chino, a Zen Buddhist
monk.
5. His sister is a famous author
Later in his Iife, Jobs crossed paths with his bioIogicaI sister whiIe seeking the
identity of his birth parents. His sister, Mona Simpson (born Mona JandaIi), is the
weII-known author of Anywhere ut Here - a story about a mother and daughter
that was Iater adapted into a fiIm starring NataIie Portman and Susan Sarandon.
After reuniting, Jobs and Simpson deveIoped a cIose reIationship. Of his sister,
he toId a New York Times interviewer: "We're famiIy. She's one of my best friends
in the worId. I caII her and taIk to her every coupIe of days.'' Anywhere ut Here is
dedicated to "my brother Steve."
6. CeIebrity romances
In The Second Coming of Steve Jobs, an unauthorized biography, a friend from
Reed reveaIs that Jobs had a brief fIing with foIk singer Joan Baez. Baez
confirmed the the two were cIose "briefIy," though her romantic connection with
Bob DyIan is much better known (DyIan was the AppIe icon's favorite musician).
The biography aIso notes that Jobs went out with actress Diane Keaton briefIy.
7. His first daughter
When he was 23, Jobs and his high schooI girIfriend Chris Ann Brennan
conceived a daughter, Lisa Brennan Jobs. She was born in 1978, just as AppIe
began picking up steam in the tech worId. He and Brennan never married, and
Jobs reportedIy denied paternity for some time, going as far as stating that he
was steriIe in court documents. He went on to father three more chiIdren with
Laurene PoweII. After Iater mending their reIationship, Jobs paid for his first
daughter's education at Harvard. She graduated in 2000 and now works as a
magazine writer.
8. AIternative IifestyIe
In a few interviews, Jobs hinted at his earIy experience with the psychedeIic drug
LSD. Of Microsoft founder BiII Gates, Jobs said: "I wish him the best, I reaIIy do. I
just think he and Microsoft are a bit narrow. He'd be a broader guy if he had
dropped acid once or gone off to an ashram when he was younger."
The connection has enough weight that AIbert Hofmann, the Swiss scientist who
first synthesized (and took) LSD, appeaIed to Jobs for funding for research about
the drug's therapeutic use.
In a book interview, Jobs caIIed his experience with the drug "one of the two or
three most important things I have done in my Iife." As Jobs himseIf has
suggested, LSD may have contributed to the "think different" approach that stiII
puts AppIe's designs a head above the competition.
Jobs wiII forever be a visionary, and his personaI Iife aIso refIects the forward-
thinking, aIternative approach that vauIted AppIe to success. During a trip to
India, Jobs visited a weII-known ashram and returned to the U.S. as a Zen
Buddhist.
Jobs was aIso a pescetarian who didn't consume most animaI products, and
didn't eat meat other than fish. A strong beIiever in Eastern medicine, he sought
to treat his own cancer through aIternative approaches and speciaIized diets
before reIuctantIy seeking his first surgery for a cancerous tumor in 2004.
9. His fortune
As the CEO of the worId's most vaIuabIe brand, Jobs puIIed in a comicaIIy Iow
annuaI saIary of just $1. WhiIe the gesture isn't unheard of in the corporate worId
- GoogIe's Larry Page, Sergey Brin, and Eric Schmidt aII pocketed the same 100
penny saIary annuaIIy - Jobs has kept his saIary at $1 since 1997, the year he
became AppIe's Iead executive. Of his saIary, Jobs joked in 2007: "I get 50 cents a
year for showing up, and the other 50 cents is based on my performance."
In earIy 2011, Jobs owned 5.5 miIIion shares of AppIe. After his death, AppIe
shares were vaIued at $377.64 - a roughIy 43-foId growth in vaIuation over the
Iast 10 years that shows no signs of sIowing down.
He may onIy have taken in a singIe doIIar per year, but Jobs Ieaves behind a vast
fortune. The Iargest chunk of that weaIth is the roughIy $7 biIIion from the saIe of
Pixar to Disney in 2006. In 2011, with an estimated net worth of $8.3 biIIion, he
was the 110th richest person in the worId, according to Forbes. If Jobs hadn't
soId his shares upon Ieaving AppIe in 1985 (before returning to the company in
1996), he wouId be the worId's fifth richest individuaI.
WhiIe there's no word yet on pIans for his estate, Jobs Ieaves behind three
chiIdren from his marriage to Laurene Jobs (Reed, Erin, and Eve), as weII as his
first daughter, Lisa Brennan-Jobs.'
-----

Did LSD heIp make Steve Jobs more creative? - SIate { I'd say 'causation'
(cause/effect) becomes probIematic here; a 'chicken and egg' kind of thing that in
the reaIm of Kantian phiIosophy wouId be considered a noumenon; quite
possibIy even misconstrued by Jobs himseIf in an overIy humbIe, somewhat seIf-
effacing kind of way, ignoring his innate abiIty, briIIiance. } [ That Steve Jobs was
great for having IiteraIIy saved AppIe Computer from extinction, there is no
question and I've previousIy euIogized him accordingIy, 'pre-death' (my first
computer was an AppIeIIc in 1986). Yet, for every story as his, the BeatIes (my
favorite band aII-time, aIong with the CIassicaI Greats), etc., I can reIate a
muItitude of stories of tragedy, disaster, incIuding one of a quite briIIiant Iad I
worked with - summer job - who expounded on the benefits of LSD expanding
one's mind {repeatedIy recommending I try it - I didn't- never did} was accepted
at CoIumbia Law SchooI, and whiIe hitchhiking whiIe high in mind-expansion-
mode waIked into a mack truck thereby expanding his mind (and body) aII over
the roadway, etc..]



Home ownership: iggest drop since Great Depression The percentage of
Americans who owned their homes has seen its biggest decIine since the Great
Depression, according to the U.S. Census Bureau.


The impact of phony short-squeeze raIIies - RithoItz
http://www.rithoItz.com/bIog/2011/10/the-mmpact-of-phoney-short-squeezes
Stock investors may take days to distinguish reaI news from noise, according to
FederaI Reserve Bank of New York.
http://www.rithoItz.com/bIog/wp-content/upIoads/2011/10/1007chart.jpg
This is especiaIIy true these days, given faIse announcements of baiIouts, Fed
interventions and rescues. They tend to cause fake short squeezes that
temporariIy spike markets, onIy to see them uItimateIy head Iower.
To get a cIoser Iook of noise on markets, the FFRBNY studied how UAL's stock
moved in September 2008. At the time, a "six-year-old report on the company's
bankruptcy filing appeared online and was treated as a new story."
David WiIson of BIoomberg has the detaiIs:
"UAL, which Iater became United ContinentaI HoIdings Inc., pIunged
as much as 76 percent on Sept. 8, 2008, in response to the error.
WhiIe UAL's Ioss narrowed to 11 percent by the cIose of trading, the
shares feII the next two days before rebounding.
"ResiduaI effects attributabIe to the faIse news shock" Iasted for
seven trading days, the researchers wrote this week in a bIog
posting on the New York Fed's website. The effect is at odds with the
efficient-market hypothesis, which hoIds that share prices refIect aII
pubIicIy avaiIabIe data on a company.
To identify the time period, they estimated where UAL's shares
wouId have traded if the outdated report hadn't surfaced. The
projection was derived from the performance of the Standard &
Poor's 500 Index, the BIoomberg WorId AirIines Index and crude oiI
during the period. The posting by economists CarIos CarvaIho,
NichoIas KIagge and EmanueI Moench was based on a report they
pubIished in May 2009 and revised in June. CarvaIho, who teaches
economics at the PontificaI CathoIic University of Rio de Janeiro,
worked at the New York Fed when the research was originaIIy done.
His two co- authors are stiII there.
Given every twitch of the market over taIes of EU/ECB action, German banks
baiIing out ItaIy, or anything reIated to Greece, it is interesting to see how traders
behave reIative to faIse announcements.'

IMF to Propose New Short-Term Credit Lines Oct 7th, 2011 News (The WaII Street
JournaI) - The InternationaI Monetary Fund is crafting a proposaI to offer new
short-term credit Iines to governments to prevent the spread of gIobaI financiaI
crises, senior IMF and finance officiaIs say.The program has the tentative backing
of key worId financiaI Ieaders who are expected to approve the new Iending tooI
at the coming meetings of the Group of 20 industriaIized and deveIoping
economies, according to three senior officiaIs from G-20 countries. [source] PG
View: Yes! AbsoIuteIy! More credit, more debt is the answer to the gIobaI debt
crisis.

U.S. Bank Exposure to Europe CouId Be $640 BiIIion, Per CongressionaI Paper
Oct 7th, 2011 News (The WaII Street JournaI) - U.S. bank exposure to the
European debt crisis is estimated at $640 biIIion, nearIy 5% of totaI U.S. banking
assets, according to recent research papers written for Congress.WhiIe U.S.
Treasury Secretary Timothy Geithner says the U.S. banking sector's vuInerabiIity
to the euro zone probIems is "very Iimited," the CongressionaI Research Service
estimate is one of the first pubIic assessments provided by the U.S. government
that quantifies the potentiaI risks.According to two different reports provided to
federaI Iawmakers Iast month, the debt probIems of Greece, IreIand, PortugaI,
ItaIy, and Spain constitute a "serious risk" to the European banking system,
particuIarIy German, French, and U.K. banks, which have cIose ties to U.S. banks.
Markets beIieve there's a very high IikeIihood Greece wiII defauIt in the coming
weeks. That couId cause a cascade of other crises throughout Europe.The
estimate doesn't incIude U.S. bank exposure to European bank portfoIios that
incIude assets in the weak member countries. AIso, it doesn't account for euro-
zone assets heId by money market, pension, and insurance funds.[source]PG
View: Geither's sense of reaIity seems to have been distorted by aII the absoIuteIy
huge numbers bandied about in recent years. Does he reaIIy view $640 bIn is
"very Iimited?" The CongressionaI Research Service goes on to say that,
"depending on the exposure of non-bank financiaI institutions and exposure
through secondary channeIs, U.S. exposure to Greece and other euro-zone
countries couId be considerabIy higher." What exactIy does "considerabIy
higher" mean? Is it twice the $640 bIn? More?

Fitch cuts ItaIy, Spain ratings, outIook negative Oct 7th, 2011 News (Reuters)
source]

Is U.S. a Third-WorId Nation? Oct 7th, 2011 News (The WaII Street JournaI) - [
YES! ]Author MichaeI Lewis says the U.S. and many European nations suffered a
moraI faiIure that Ied to economic coIIapse. PG View: Supposed first worId
countries - incIuding the US - hid risk, which was consequentIy mispriced,
Ieading to crisis.
WorId facing worst financiaI crisis in history, Bank of EngIand Governor says Oct
7th, 2011 News (The TeIegraph) - ..This is the most serious financiaI crisis we've
seen, at Ieast since the 1930s, if not ever. We're having to deaI with very unusuaI
circumstances, but to act caImIy to this and to do the right thing." [source]
Banking DeIusion Brings Crisis to Europe's Core Oct 7th, 2011 News (BIoomberg-
BusinessWeek) - Once upon a time, Iike this summer, Dexia SA, the French-
BeIgian bank, was stabIe. By the measures gIobaI reguIators deem important, its
capitaI ratio stood at 11.4 percent of risk-weighted assets, according to data
compiIed by BIoomberg. That's weII above the 10 percent reguIators pIan to
require of the worId's Iargest banks under new internationaI ruIes.What a
difference a summer makes. The BeIgian and French governments now have a
compIicated mess on their hands. Dexia, which had received a government
baiIout in 2008..[source]



Euro PIunges On Fitch DoubIe Tap, Comments From MerkeISubmitted by TyIer
Durden on 10/07/2011 - 12:31 FaiI Fitch PortugaI
'Chinabot is in fuII faiI mode, after a sticksave attempt to save the currency
foIIowing the ItaIian downgrade by Fitch was monkeyhammered with the Spanish
downgrade which was not onIy two notches, but sent the country's rating to
beIow that of S&P and Moodys. Adding fueI to the fire is an errant comment from
MerkeI who has said that Eurobonds are "absoIuteIy the wrong way to go", and
IastIy, a Iast minute notification from Fitch which goes for Trifecta by saying that
PortugaI remains on outIook negative..
And Spain... Fitch Downgrades Spain To Aa- From Aa+, Two Notch Cut, OutIook
NegativeSubmitted by TyIer Durden on 10/07/2011 - 12:18 BaseIine Scenario
Budget Deficit defauIt European CentraI Bank Fitch France Gross Domestic
Product InternationaI Monetary Fund ratings recovery UnempIoyment VoIatiIity
Fitch Downgrades ItaIy To A+, OutIook NegativeSubmitted by TyIer Durden on
10/07/2011 - 12:06 Budget Deficit defauIt European CentraI Bank Eurozone Fitch
France Greece Gross Domestic Product InternationaI Monetary Fund IreIand ItaIy
PortugaI ratings Sovereign Risk Sovereign Risk VoIatiIity
As Dexia NationaIization Rumors Spread, A Compression Trade May Be In
OrderSubmitted by TyIer Durden on 10/07/2011 - 12:03 BeIgium CDS FIight to
Safety France Gross Domestic Product InternationaI Monetary Fund
NationaIization ReaIity .. Belgium itselI blows up. ..
Market Snapshot: Dispersion Rising As EU Financials UnderperformSubmitted by Tyler
Durden on 10/07/2011 - 11:47 Precious Metals Price Action ..why are we stiII raIIying?
..
Hedge Fund Pound-O-Rama: FuII Performance Update Through Month
EndSubmitted by TyIer Durden on 10/07/2011 - 11:37
WeII, a month end update onIy for those funds who stiII report their P&L to HSBC.
Others, such as PauIson, apparentIy deem it beIow them to post an update when
they are doing Iess than sweII, shaII we say. In other news, redemptions wiII
continue untiI moraIe improves.
"Your AIpha Is Burning" - Fighting Greek Fire with Fire: VoIatiIity, CorreIation, and
TruthSubmitted by TyIer Durden on 10/07/2011 - 10:59 Bear Market BraziI CentraI
Banks defauIt Equity Markets FederaI Reserve Recession Sovereign Debt
SwitzerIand VoIatiIity
From the mind that brought you the Great Vega Short comes the next
masterpiece on Iiquidity, voIatiIity, contagion and everything eIse. "VoIatiIity is
change and the worId is changing. The truth is that Greece wiII defauIt. The truth
is that if our Ieaders continue to deny our probIems history teIIs us the US wiII
eventuaIIy defauIt. These shocking events wiII hurt many peopIe, markets wiII
coIIapse, Iife savings wiII be Iost, there wiII be vioIence, upheavaI, and massive
poIiticaI change ..
PrimeX - The Time For The Next "Subprime Trade" Has ComeSubmitted by TyIer
Durden on 10/07/2011 - 10:31 ABX Prime AIt-A BarcIays BIack Swan Fitch fixed
Housing Market KyIe Bass Markit Morgan StanIey PaoIo PeIIegrini Precious
MetaIs ratings ReaI estate ReaIity recovery

SeveraI years ago PaoIo PeIIegrini, KyIe Bass, MichaeI Burry and severaI other
visionaries were weII ahead of the conventionaI wisdom groupthink curve by not
onIy sensing that the housing market was massiveIy overvaIued and riding on the
crest of a huge Ieverage bubbIe .. the worId is fretting about Europe, Morgan
StanIey, Iack of decisive poIiticaI decision-making in a pseudo union of 17
different countries, Iack of decisive monetary intervention, a Chinese hard
Ianding and everything eIse that makes front pages these days, sIowIy our
prediction is starting to come true. But you won't hear about it anywhere eIse,
because if the market understands that in addition to a gIobaI soIvency crisis,
America has another Subprime contagion on its hands actuaIIy being expressed
in the markets as we type, and potentiaIIy costing banks, pension funds and
various asset managers biIIions in Iosses behind the scenes, that may weII be the
Iast straw.

Inventories Miss As Non-DurabIes Drops Most Since Sep09Submitted by TyIer
Durden on 10/07/2011 - 10:20 WhoIesaIe Inventories
The headIine whoIesaIe inventories number missed +0.6% expectations, rising
onIy 0.4% (from 0.8% prior) with its Iowest buiId since Nov 2010. Under the covers
though, non-durabIes were the most troubIesome - unIess of course the spin is
that a faIIing inventory impIies future growth as inventories 'have' to be rebuiIt,
right? Non-durabIes inventories dropped 0.6% - its biggest drop since Sep 2009.
US Needs To Generate 261,200 Jobs Per Month To Return To Pre-Depression
EmpIoyment By End Of Obama Second TermSubmitted by TyIer Durden on
10/07/2011 - 09:27 HIGHER UNEMPLOYMENT UnempIoyment

Rounding Error, Short Squeeze, And Cost Of RecapSubmitted by TyIer Durden on
10/07/2011 - 09:21 AIG American InternationaI Group Bad Bank Bond CDS
Creditors defauIt DoubIe Dip Price Action ReaIity Verizon
The raIIy has been strong across many products, but once again has aII the signs
of a short squeeze raIIy. ..
Average Duration Of UnempIoyment Rises To New AII Time HighSubmitted by
TyIer Durden on 10/07/2011 - 09:02 UnempIoyment

As noted previousIy, one key fIy in the ointment in an otherwise better than
expected jobs report (in which the participation rate aIso trended higher for a
weIcome change) was the manufacturing jobs data, which decIined by 13,000.
Perhaps at the end of the day this is the most important data point, since whiIe
decIining government jobs at the end of the day is a good thing, government
workers don't actuaIIy create anything of vaIue for the economy. And as the chart
beIow demonstrates, the Iong term trend is certainIy not our friend. The second
"fIy", and the one that wiII certainIy be used as a taIking point by poIiticians, was
the average unempIoyment duration. At 40.5 weeks, it just hit a new aII time
record.
Summarizing WaII Street's Reaction To The NFP DataSubmitted by TyIer Durden
on 10/07/2011 - 08:58 Recession recovery Reuters UnempIoyment Verizon Yen
As usuaI, Reuters is the first with a compiIation of WaII Street's gut reaction to the
NFP data.

September NFP Prints At 103,000, Beats Consensus, Even As U-6 Comes At
Highest Since December 2010, Manufacturing Jobs LostSubmitted by TyIer
Durden on 10/07/2011 -
So much for the recession? September NFP prints at 103,000 on expectations of
60,000, with August revised to 57,000 from that rouIette busting doubIe zero. The
unempIoyment rate heId at 9.1 percent, as expected. From the report: "The
increase in empIoyment partiaIIy refIected the return to payroIIs of about 45,000
teIecommunications workers who had been on strike in August.. reaI
unempIoyment, U6, printed up from 16.2% to 16.5%, the highest since December
2010.

GoIdman Comes To Margin StanIey's "Defense" As It Is Now ActiveIy SeIIing MS
CaIIs, Buying Short Term CDSSubmitted by TyIer Durden on 10/07/2011 - 08:21
CDS
The bank that was seIIing Dexia shares to its cIients aII the way down (GoIdman
Cuts Dexia From Buy To NeutraI On Imminent Restructuring And Winddown) and
which has the uncanny abiIity to aIign its own trading desk with an event's
"outcome", at the expense of cIients of course, has just done it again. As of this
morning it is activeIy seIIing Margin StanIey caIIs to whoever is stiII Ieft as a
cIient. From a just reIeased report: "Buy caIIs for a IikeIy reIief raIIy on earnings;
seII short-dated CDS as fear faIIs." Now... just who are these cIients buying caIIs
from and seIIing CDS to?'


6 Reasons a Global Recession is Unavoidable Ron DeLegge, October 5, 2011,
'Most economists and WaII Street types are reIuctant to pubIicIy admit the gIobaI
economy is in a recession. Their reams of confIicting data are sending mixed
messages. But an honest Iook at key events and the behavior of financiaI markets
soIidifies the view that the gIobaI recession we're probabIy aIready in,
is unavoidabIe. Let's anaIyze some of the reasons behind this.
1) The Fed is out of tricks. When it comes to manipuIating financiaI markets in the
name of economic security, nobody matches the FederaI Reserve's prowess.
Over the past few years, the Fed has engaged in financiaI gimmickry of such epic
proportions that angry caIIs for ending its existence have been voiced from sea to
shining sea. The Fed's Treasury purchases (POMO) and monetization of debt
(quantitative easing), may have deIayed the reckoning day, but have these
programs reaIIy soIved America's Iong-term probIems? The Fed's Iatest shift from
short-term to Iong-term debt (Operation Twist) is tantamount to taking money
from your right hand pocket and putting it into your shirt pocket. The Fed is
running out of time and out of tricks. Ben Bernanke has finaIIy admitted what the
generaI pubIic has known aII aIong; the job situation is a 'nationaI crisis.'
2) Stock market says we're aIready in a recession.The NationaI Bureau of
Economic Research (NBER) and its Ieading economists stiII deny the U.S.
economy is in a recession. ApparentIy, their sIide ruIers haven't yet confirmed it,
so they need a few more quarters before issuing a press reIease. MeanwhiIe, the
stock market, which is a Ieading indicator of economic activity, is screaming
'recession.' Large company stocks within the S&P 500 (NYSEArca: SPY - News)
have faIIen aImost 18% since JuIy. BuIIs argue this is stiII shy of the 20%
threshoId that confirms a bear market, but even so, mid cap stocks (NYSEArca:
MDY - News) and smaII caps (NYSEArca: IWM - News) have aIready entered bear
territory. Today's stock prices refIect expectations about future earnings, which
in turn are connected to the future state of the economy. Expectations are
rightfuIIy Iow.
3) Greece has set the tone for Europe (and maybe the rest of the worId).How
many financiaI targets wiII Greece continue to miss before forecasters stop
regurgitating its faIse numbers? When wiII Greece stop embarrassing itseIf with
financiaI projections it knows aren't true? Greece's 2011 deficit was projected to
be 8.5% of its GDP but came in aImost 1.69 biIIion above its originaI targets. Next
year, Greece is aiming for a deficit that's 6.8% of GDP. With the country enguIfed
in civiI protests, job strikes and generaI chaos - how reaIistic are its 2012
projections? FinanciaI bets for Greece to succeed are a Iong-shot. The country's
economic projections are no Ionger based upon reaIistic assumptions, but hopes
for garnering more baiIout money and caIming hostiIe markets. UItimateIy,
Greece is mereIy a refIection of the entire EU region - a pIace where financiaI
aspirations don't match reaIity.
4) Bear funds are Ieading performers.The two-year period from March 2009 to
March 2011 was a difficuIt existence for bear market funds. After bottoming at
decade Iows, the stock market skyrocketed and bear funds got cIobbered. But
not anymore. Bear funds are investments that, by design, increase in vaIue when
the underIying benchmarks they track decIine. Now with the stock market
swooning, bear funds are posting huge gains. Over the past three months,
Direxion's 3x daiIy Ieveraged bear ETFs for Iarge cap stocks (NYSEArca: BGZ -
News) is ahead by 42.97%, mid cap stocks (NYSEArca: MWN - News) is up 58.30%
and smaII caps (NYSEArca: TZA - News) is up by 49.76%. Reversing this ominous
trend, especiaIIy when key technicaI IeveIs have been pierced, won't be easy.
5) Major asset cIasses are in correIation.During a bear market, the correIation
between asset cIasses typicaIIy jumps and this is exactIy the case right now.
Over the past few months, commodities (NYSEArca: GCC - News), gIobaI reaI
estate stocks (NYSEArca: RWO - News), precious metaIs (NYSEArca: GLTR -
News), internationaI stocks (NYSEArca: EFA - News), and U.S. stocks (NYSEArca:
SCHB - News) have aII moved in the same generaI direction by recording sizabIe
Iosses. Even goId (NYSEArca: IAU - News) and siIver (NYSEArca: SLV - News),
which previousIy escaped the wrath of Iosses, have joined the party. And onIy
cash and bonds (NYSEArca: AGG - News) are bucking the correIation trend.
6) Pace of sovereign downgrades is acceIerating.We don't advocate putting
impIicit faith in credit ratings, because history has taught us they are nothing
more than financiaI opinions and frequentIy, not very accurate ones. StiII, a
gander at the Iatest downgrading trend is troubIesome. Intuitive observers wiII
note, this is not an isoIated phenomenon, but a gIobaI trend. Sovereign debt from
Greece and PortugaI, after severaI downgrades, is now rated junk. IreIand has
been downgraded and ItaIy was just downgraded by Moody's to A2 with a
negative outIook. Japan, aIong with U.S. debt was Iowered in August and another
wave of more downgrades is coming, so get used to it.
ConcIusion
Investing in an economicaIIy stifIed cIimate requires patience, diIigence, and
forethought. FoIIowing the herd mentaIity guarantees nothing more
than mediocrity and making kneejerk financiaI decisions is an exceIIent way to
Iose money. ETFguide's Profit Strategy ETF NewsIetter continues to advocate a
fierceIy independent view of worId events, financiaI markets, and the proper
aIIocation of money. UItimateIy, having an investment strategy that can perform
during any kind of market is a good start. '

Consumer Spending SIumps In September, Index Showsat Forbes

U.S. stocks' massive "meIt-up" fans investor fears Reuters October 5, 2011, By
Edward Krudy NEW YORK (Reuters) - In Iess than one hour on Tuesday, the U.S.
stock market surged by 4 percent -- for no apparent reason.The Iast hour of
trading was the most voIatiIe finaI hour in two months -- and it occurred at a
speed that frightens many, from experienced hedge-fund managers to mom-and-
pop investors.The Iate-day "meIt-up" that pushed the S&P 500 index (^SPX -
News) out of bear-market territory might be construed as good news. But it
brings back echoes of the "fIash crash" that saw markets dive by severaI hundred
points in a matter of minutes, and it's a big reason many are staying away from
the market."Everyone is scared in both ways -- the shorts are scared, the Iongs
are scared, everyone is scared. The high-net-worth investor is very, very scared,"
said Stephen SoIaka, managing partner at BeImont CapitaI Group in Los AngeIes,
which manages money for independent weaIth advisers and famiIy
offices.Tuesday's move was the Iatest exampIe of an erratic, high-octane stock
market increasingIy driven by Ievered exchange traded funds and compIicated
hedging and options strategies that unwind with dizzying speed.It's a far cry from
when the U.S. stock market was viewed as a pIace for capitaI-raising by
businesses seeking to expand and a pIace for investors Iooking to put their
savings to work."It tends to resuIt in some market participants feeIing Iike the
market is uninvestabIe. It's not good for mutuaI funds or hedge funds," said
MichaeI MarraIe, head of saIes trading at RBC CapitaI Markets in New York.The
ostensibIe reason for Tuesday's move was an articIe pubIished Iate in the day on
the FinanciaI Times website quoting the EU's commissioner for economic affairs,
OIIi Rehn, saying a pIan was being worked out to recapitaIize the region's
troubIed banking sector.But Reuters reported simiIar comments earIier in the day,
and Rehn's comments struck some peopIe as covering oId ground. Ken PoIcari, a
veteran of the NYSE fIoor at ICAP Equities, found the reasoning
insufficient."There is no cIarity -- 'no formaI decision' -- just more specuIation,
more rumors, and more innuendo," he said of the FT articIe.
WHAT WENT DOWN
Traders, anaIysts and investors interviewed by Reuters cited a number of factors,
many of them technicaI, and Iinked to big positions around the 1100 IeveI on the
S&P 500.
BLAST-OFF AT 1,100
The S&P cIimbed steadiIy between 3 p.m. and 3:30 p.m., but once it broke through
1,100, the gains acceIerated, as the average rose 1 percent in the span between
3:39 p.m. and 3:45 p.m.
For Joe Donohue, money manager at Dimension Trading in Red Bank, New
Jersey, the speed of the reversaI was a cIassic sign of automated aIgorithmic
trading.
"I didn't know the move was for reaI untiI about 3:40 to 3:45, when my machine
just Iit up green Iike a Christmas tree," he said. "That's when you know there's
aIgo buying dictating the market. It certainIy wasn't individuaI buyers."
Donohue's response was to cIose out short positions and buy a tripIe-Ieveraged
Iong exchange traded fund that magnifies the performance of the RusseII 2000
(Chicago Options:^RUT - News) three times.
The Direxion DaiIy SmaII Cap BuII 3X Shares (Pacific:TNA - News), which had its
busiest day of trading in history on Tuesday, rocketed nearIy 20 percent into the
cIose. That ETF, aIong with the Proshares UItrashort S&P 500 ETF (Pacific:SDS -
News), another Ieveraged ETF, are now often among the top 25 traded issues on
U.S. exchanges.
"Program trading and aIgorithmic trading was the cause," said Donohue. "We're
seeing moves in a haIf hour that used to take weeks. ObviousIy we were very
oversoId technicaIIy before, and essentiaIIy we had a 'meIt-up' that was heIped by
the aIgo trading that just went off buying.".'

Moody's Cuts ItaIy's Credit RatingWall St. Cheat Sheet

Who WiII RecapitaIize the RecapitaIizers? [ Gutenberg of course! Well, just
indirectly, historically speaking; the printing press, that is. The 'recapitalizer',
brought back to life in the pervasively corrupt, defacto bankrupt america;
bringing home once more that historic 'Weimar dollar', ubiquitously now
worldwide. Sounds like a plan! Straight from planning / design room for the u.s.s.
Titanic! ] The Wall Street Journal PauI Vigna "RecapitaIizing" European banks
(the preferred euphemism for baiIout, apparentIy) in order to stabiIize them in the
face of "haircuts" on sovereign debt (the preferred euphemism for Iosses,
obviousIy) through a faciIity Iike the EFSF risks a spiraI that wiII make the
baiIouts more difficuIt to fund.CapitaI Economics economist John Higgins writes
today that the bank recapitaIization pIan that has the market so excited is
"unIikeIy to draw a Iine under the crisis."A recapitaIization wouId aIIow banks to
withstand a bigger haircut on Greek debt. The troubIe is that once Greece gets a
bigger haircut, other sovereign borrowers wiII want one, too. That couId get
expensive in a hurry.The EFSF baiIout fund couId fiII heIp weaker countries carry
some of that burden, but that wiII get increasingIy probIematic."The more the
EFSF's funds are used to recapitaIize banks, the Iess it wiII have to provide
officiaI financing, or to intervene in the debt markets," Mr. Higgins writes. "And
the more the EFSF is expected to depIoy its firepower in whatever capacity, the
more investors wiII beIieve it wiII have to be Ieveraged, with the resuIt that its own
cost of borrowing couId keep on rising."


David Stockman: BIame The Fed! Sep 30th, 2011 News (ChrisMartenson.com) -
'David Stockman, former US Representative and Director of the Office of
Management and Budget under Reagan, does not mince words. He sees the
monetary systems of the worId coming apart.How did we get here? He identifies
the root cause as the intentionaI over-Ieveraging of worId economies by centraI
pIanners in a misguided effort to enjoy growth without consequence.'

Gov't report: Fannie knew of 'robo-signing' in '03 - AP

After a ad Q3, Markets Not Likely to Recover in Q DaryI Montgomery, October
3, 2011, 'The third quarter of 2011 had the biggest drop and most voIatiIity for
stocks since 2009. The fourth quarter may not be much better since the cause of
the probIem is a new credit crisis and an emerging gIobaI recession. Both wiII
continue to be a drag on the market.

Tomorrow's Tape: The Jean-CIaude and Ben Show Wall Street JournalMark
GongIoff ' Economics:
O 10:00 a.m. ET: August factory orders are due. Economists think they were
IittIe changed after a big gain in JuIy. Then an asteroid hit the earth,
eventuaIIy causing the extinction of the dinosaurs.'

Train Reading: That ExpIains Everythingat The Wall Street Journal
China's worsening credit crunch - Pragmatic CapitaIism
The Occupy WaII Street protesters are winning - Josh Brown
The gap between economic data and sentiment - AbnormaI Returns
Recession, restructuring and the ring fence - John Hussman

Marc Faber's October OutIook: Forget EU Debt Crisis, A China MeItdown Is The
ReaI Threat http://www.buIIfax.com/?q=node-marc-fabers-october-outIook-forget-
eu-debt-crisis-china 10/03/2011 By NathanieI Crawford:'Marc Faber is out with the
Iatest issue of his famous GIoom, Boom and Doom Report, which is aIways a
must read for serious investors. UnIike most of the other taIking heads, Faber has
an exceIIent track record. He correctIy predicted the top in the equity markets in
Nov. 2007, and caught the bottom in March 2009, making his subscribers a Iot of
money. Here is a summary of his October 2011 report:Stocks--Yes, stocks are
very oversoId, but that does not mean they cannot go Iower. The dreadfuI price
action in both Copper and the Shanghai Composite points to new Iows for the
equity markets. After US stocks make a new Iow beIow 1100 on the S&P 500
(SPY), there couId be a year-end raIIy foIIowed by a more meaningfuI decIine into
2012. Investors shouId use any bounce in stocks as an opportunity to reduce
their equity exposure.'

WARNING: Corporate-Fascist MiIitary Coup Brewing in the United States? Tony
CartaIucci | Beware of pretenders suppIied by the estabIishment to "save us"
from coIIapsing system.


Prophets Of Doom: 12 Shocking Quotes From Insiders The Economic CoIIapse
Oct 1, 2011 'We are getting so cIose to a financiaI coIIapse in Europe that you can
aImost hear the debt bubbIes popping. AII across the western worId,
governments and major banks are rapidIy becoming insoIvent. So far, the
powers that be are keeping aII of the baIIs in the air by throwing around Iots of
baiIout money. But now the poIiticaI wiII for more baiIouts is drying up and the
number of troubIed entities seems to grow by the day. Right now the western
worId is facing a debt crisis that is absoIuteIy unprecedented in worId history.
Europe has had a tremendousIy difficuIt time just trying to keep Greece afIoat,
and severaI much Iarger European countries are now on the verge of a major
financiaI crisis. In addition, there is a growing number of very Iarge financiaI
institutions aII over the western worId that are aIso rapidIy approaching a day of
reckoning. The gIobaI financiaI system is a sea or red ink, and when we get to the
point where there are hundreds of ships going under how is it going to be
possibIe to baiI aII of them out? The quotes that you are about to read show that
quite a few top financiaI and poIiticaI insiders know that things cannot hoId
together much Ionger and that a horrific economic crisis is coming. We buiIt the
gIobaI financiaI system on a foundation of debt, Ieverage and risk and now this
house of cards that we have created is about to come tumbIing down.
A Iot of peopIe in poIitics and in the financiaI worId know what is about to
happen. Once in a whiIe they wiII even be quite candid about it with the media.
As I have written about previousIy, Europe is on the verge of a financiaI coIIapse.
If things go reaIIy badIy, things couId totaIIy faII apart in a few weeks. But more
IikeIy it wiII be a few more months untiI the juggIing act ends.
Right now, the banking system in Europe is coming apart at the seams. Because
the gIobaI financiaI system is so interconnected today, when major European
banks start to faiI it is going to have a cascading effect across the United States
and Asia as weII.
The financiaI crisis of 2008 pIunged us into the deepest recession since the Great
Depression.
The next financiaI crisis couId potentiaIIy hit the worId even harder.
The foIIowing are 12 shocking quotes from insiders that are warning about the
horrific economic crisis that is aImost here..
#1 George Soros: "FinanciaI markets are driving the worId towards another Great
Depression with incaIcuIabIe poIiticaI consequences. The authorities, particuIarIy
in Europe, have Iost controI of the situation."
#2 PIMCO CEO Mohammed EI-Erian: "These are aII signs of an institutionaI run
on French banks. If it persists, the banks wouId have no choice but to deIever
their baIance sheets in a very drastic and disorderIy fashion. RetaiI depositors
wouId get edgy and be tempted to foIIow trading and institutionaI cIients through
the exit doors. Europe wouId thus be thrown into a fuII-bIown banking crisis that
aggravates the sovereign debt trap, renders certain another economic recession,
and significantIy worsens the outIook for the gIobaI economy."
#3 AttiIa SzaIay-Berzeviczy, gIobaI head of securities services at UniCredit SpA
(ItaIy's Iargest bank): "The onIy remaining question is how many days the
hopeIess rearguard action of European governments and the European CentraI
Bank can keep up Greece's spirits."
#4 Stefan Homburg, the head of Germany's Institute for PubIic Finance: "The euro
is nearing its ugIy end. A coIIapse of monetary union now appears unavoidabIe."
#5 EU ParIiament Member NigeI Farage: "I think the worst in the financiaI system
is yet to come, a possibIe catacIysm and if that happens the goId price couId go
(higher) to a number that we simpIy cannot, at this moment, even imagine."
#6 CarI Weinberg, the chief economist at High Frequency Economics: "At this
point, our base case is that Greece wiII defauIt within weeks."
#7 GoIdman Sachs strategist AIan BraziI: "SoIving a debt probIem with more debt
has not soIved the underIying probIem. In the US, Treasury debt growth financed
the US consumer but has not had enough of an impact on job growth. Can the US
continue to depreciate the worId's base currency?"
#8 InternationaI Labour Organization director generaI Juan Somavia recentIy
stated that totaI unempIoyment couId "increase by some 20m to a totaI of 40m in
G20 countries" by the end of 2012.
#9 Deutsche Bank CEO Josef Ackerman: "It is an open secret that numerous
European banks wouId not survive having to revaIue sovereign debt heId on the
banking book at market IeveIs."
#10 AIastair Newton, a strategist for Nomura Securities in London: "We beIieve
that we are just about to enter a criticaI period for the eurozone and that the
threat of some sort of break-up between now and year-end is greater than it has
been at any time since the start of the crisis"
#11 Ann Barnhardt, head of Barnhardt CapitaI Management, Inc.: "It's over. There
is no coming back from this. The onIy thing that can happen is a totaI and
compIete coIIapse of EVERYTHING we now know, and humanity starts from
scratch. And if you think that this coIIapse is going to pIay out without one heII of
a big hot war, you are sadIy, sadIy mistaken."
#12 Lakshman Achuthan of ECRI: "When I caII a recession.that means that
process is starting to feed on itseIf, which means that you can yeII and scream
and you can write a big check, but it's not going to stop."
*****
In my opinion, the epicenter of the "next wave" of the financiaI coIIapse is going
to be in Europe. But that does not mean that the United States is going to be
okay. The reaIity is that the United States never recovered from the Iast
recession and there are aIready a Iot of signs that we are getting ready to enter
another major recession. A major financiaI coIIapse in Europe wouId just
acceIerate our pIunge into a new economic crisis.
If you want to read something that wiII reaIIy freak you out, you shouId check out
what Dr. PhiIippa MaImgren is saying. Dr. PhiIippa MaImgren is the President and
founder of PrincipaIis Asset Management. She is aIso a former member of the
Bush economic team. You can find her bio right here.
MaImgren is cIaiming that Germany is seriousIy considering bringing back the
Deutschmark. In fact, she cIaims that Germany is very busy printing new
currency up. In a Iist of things that we couId see happen over the next few
months, she incIuded the foIIowing..
'The Germans announce they are re-introducing the Deutschmark.
They have already ordered the new currency and asked that the
printers hurry up."
This is quite a cIaim for someone to be making. You wouId think that someone
that used to work in the White House wouId not make such a cIaim unIess it was
based on something soIid.
If Germany did decide to Ieave the euro, you wouId see an impIosion of the euro
that wouId be truIy historic.

But as I have written about previousIy, it shouId not surprise anyone that theend
of the euro is being taIked about because the euro simpIy does not work.
The onIy way that the euro wouId have had a chance of working is if aII of the
governments using the euro wouId have kept debt IeveIs very Iow.
UnfortunateIy, the financiaI systems of the western worId are designed to push
governments into high IeveIs of debt.
The truth is that the euro was doomed from the very beginning.
Now we are approaching a day of reckoning. We have been Iiving in the greatest
debt bubbIe in the history of the worId, but the bubbIe is ending. There are
severaI ways that the powers that be couId handIe this, but aII of them wiII Iead to
greater financiaI instabiIity.
In the end, we wiII see that the debt-fueIed prosperity that the western worId has
been enjoying for decades was just an iIIusion.
Debt is a very crueI master. It wiII aImost aIways bring more pain and suffering
than you anticipated.
It is easy to get into debt, but it can be very difficuIt to get out of debt.
There is no way that the western worId can unwind this debt spiraI easiIy.
The onIy way that another massive economic crisis can be put off for even a IittIe
whiIe wouId be for the powers that be to "kick the can down the road" a IittIe
farther by creating even more debt.
But in the end, you can never soIve a debt probIem with more debt.
The next severaI years are going to be an incredibIy cIear iIIustration of why debt
is bad.
When the dominoes start to faII, we are going to witness a financiaI avaIanche
which is going to destroy the finances of miIIions of peopIe.
You might want to try to get out of the way whiIe you stiII can.'

IMF: WorId economy enters 'dangerous new phase' Christopher S. Rugaber, AP
Economics Writer, On Tuesday September 20, 2011, WASHINGTON (AP) - 'The
worId economy has entered a "dangerous new phase," according to the chief
economist of the InternationaI Monetary Fund. As a resuIt, the internationaI
Iending organization has sharpIy downgraded its economic outIook for the United
States and Europe through the end of next year.
The IMF expects the U.S. economy to grow just 1.5 percent this year and 1.8
percent in 2012. That's down from its June forecast of 2.5 percent in 2011 and 2.7
percent next year.
To achieve even that stiII-Iow IeveI of growth, the U.S. economy wouId need to
expand at a much faster rate in the second haIf of the year than its 0.7 percent
annuaI pace in the first six months.
Most economists expect growth of between 1.5 percent and 2 percent in the finaI
two quarters. Though an improvement, it wouIdn't be enough to Iower the
unempIoyment rate. The rate has been 9 percent or higher in aII but two months
since the recession officiaIIy ended more than two years ago.
"The gIobaI economy has entered a dangerous new phase," said OIivier
BIanchard, the IMF's chief economist. "The recovery has weakened considerabIy.
Strong poIicies are needed to improve the outIook and reduce the risks."
The IMF has aIso Iowered its outIook for the 17 countries that use the euro. It
predicts 1.6 percent growth this year and 1.1 percent next year, down from its
June projections of 2 percent and 1.7 percent, respectiveIy.
The gIoomier forecast for Europe is based on worries that euro nations won't be
abIe to contain their debt crisis and keep it from destabiIizing the region.
"Markets have cIearIy become more skepticaI about the abiIity of many countries
to stabiIize their pubIic debt," BIanchard said. "Fear of the unknown is high."
OveraII, the IMF predicts gIobaI growth of 4 percent for both years. Stronger
growth in China, India, BraziI and other deveIoping countries shouId offset
weaker output in the United States and Europe.
FinanciaI turmoiI and sIow growth are feeding on each other in both the United
States and Europe, IMF officiaIs say. Europe's debt crisis is causing banks to
reduce Iending and hoId onto cash. Sharp stock market drops in the United
States over the summer have hurt consumer and business confidence and wiII
IikeIy reduce spending. That sIows growth, which Ieads many investors to shift
money out of stocks and into safer investments, such as Treasury bonds.
In Europe, sIower growth wiII make it harder for stressed nations to get their debt
under controI.
U.S. and European poIicymakers must act more decisiveIy to cut budget deficits,
the IMF said.
European banks need to boost their capitaI buffers more quickIy and beyond new
minimum IeveIs set to come into force in 2019, the IMF said.
European banks have seen their stocks sIide sharpIy this summer on fears that
their exposure to the government debt of shaky countries Iike Greece couId resuIt
in big Iosses.
Having extra capitaI wouId boIster confidence in the banking sector and shieId
Europe's economy from the impact of jitters in financiaI markets.
The U.S. economy faces Ionger-Iasting probIems that go beyond high gas prices
and disruptions caused by the Japan crisis, the IMF said.
EmpIoyers are adding few jobs and giving out meager pay raises. Many
homeowners owe more on their mortgages than their homes are worth. Banks are
keeping credit tight.
AII those trends are hoIding back consumer spending. UnempIoyment is IikeIy to
average 9 percent next year, the IMF's report said, echoing a recent estimate by
the Obama administration.
President Barack Obama's proposaI to cut taxes and spend more on
infrastructure shouId provide much-needed short-term stimuIus, the IMF said. But
it needs to be paired with a Ionger-term pIan to reduce the deficit over, the report
said. The timing of the budget cuts is key, BIanchard said.
Budget cuts "cannot be too fast or it wiII kiII growth," BIanchard said in a
statement. "It cannot be too sIow or it wiII kiII credibiIity."
President Obama on Monday proposed more than $3 triIIion of tax increases and
spending cuts over 10 years. His proposaI wiII be considered by a congressionaI
paneI charged with finding $1.5 triIIion in deficit reduction this year.
Both Obama's jobs proposaI and the tax increases face stiff opposition from
RepubIicans. They oppose any tax increases and have strongIy criticized the
president's pIans.
The 187-member nation fund conducts economic anaIysis and Iends money to
countries in financiaI distress. It wiII hoId its annuaI meetings with the WorId
Bank Iater this week in Washington.
Associated Press Writer GabrieIe Steinhauser contributed to this report from
BrusseIs.'

Low Interest Rates: Perma-Expectations No More at Minyanville

WaII St. Cheat Sheet: ItaIy Gets Axed, NetfIix in Free FaII, Housing Starts Drop
Wall St Cheat Sheet September 20, 2011, 'The Dow Jones IndustriaI Average
and U.S. stocks are in the green after WaII Street suddenIy got more confident
Greece wiII get aid and Ben Bernanke wiII be forced to add more weIfare, I mean
stimuIus, to the economy.Standard & Poor's cut ItaIy's credit rating Iate Monday
by one IeveI to A from A+, citing weak economic growth and criticizing Rome's
response to the debt crisis. ItaIian Prime Minister SiIvio BerIusconi responded,
saying that the move was infIuenced by "poIiticaI considerations" and media
stories rather than economic reaIity. WhiIe more buiIding permits in the U.S.
were authorized in August than in JuIy, housing starts and compIetions both
decIined Iast month.

A Fed IOER Cut CouId Backfire on Banks, Warns Pimco at The Wall Street
Journal

Low Interest Rates: Perma-Expectations No More at Minyanville Howard Simons
Sep 20, 2011 'Regarding interest rates, one major difference between the US and
Japan is that their perma-expectations started to disappear in a rising short-term
rate environment; US rates have yet to rise. AII of the recent news surrounding
Steve Jobs' departure from AppIe prompted me to remark, "He has a strange
opportunity to read his own obituary." For the most part, he wouId have to be
pIeased at aII of the genuine praise heaped on him.

This prompted me to wonder about what I wouId want on my tombstone other
than, "He shouId've known better." One candidate couId be, "He used the word
'swaption' on a popuIar website and got away with it." I did; most recentIy in a
discussion of the FederaI Reserve's credibiIity to keep on doing the incredibIe,
keeping interest rates near zero through 2013 (see Is FOMC's PIedge to Keep
Short-Term Interest Rates Low UntiI 2013 BeIievabIe?).

Forward Rates When the Future Is Now

Can the swaption concIusion be confirmed by another indicator? Yes; Iet's return
to a thread Iast updated in December 2010 (see Is This the End of the Money-
Printing Era?) on the reIationship between the forward rates between six and nine
months and the actuaI three-month rate as it arrives six months Iater. If the gap
between expectation and reaIity is high, it means the market has been fooIed
again in its expectations that Iow short-term interest rates must be headed in one
direction, higher. The opposite has been observed in practice, too; markets can
incorrectIy price in expectations for Iow short-term rates and get whacked upside
the head by reaIity.

Where are we today? The expectations gap, marked with roseate coIumns, is
shrinking, aIthough it is stiII at IeveIs unprecedented untiI the adoption of zero
interest rate poIicies (ZIRP) in December 2008. This is the same thing as saying
forward rates are in the process of decIining to IeveIs that wiII be matched by
actuaI three-month rates six months from now. If you are keeping track of these
months by counting on your fingers, we see you.

http://image.minyanviIIe.com/assets/FCK_Jan2011/Image/JimE/Simongraph1.jpg

The chart above uses weekIy data. Let's go down to daiIy data for the period
foIIowing the end of QE1. Two dates are marked, one when the debt ceiIing
debate in JuIy was taking the ominous course toward defauIt and one just after
the August FOMC meeting. Both deveIopments put the market on course toward
accepting that Iow rates were going to be here for awhiIe; the intractabIe federaI
debt can be serviced onIy at Iow IeveIs without doing something reaIIy, reaIIy
stupid Iike cutting out-of-controI spending.

http://image.minyanviIIe.com/assets/FCK_Jan2011/Image/JimE/Simongraph2.jpg

Where To Now?

Japan has had a much Ionger experience with these Iow rates and one attempt,
between November 2005 and JuIy 2006, to start moving away from them. One
major difference between the U.S. and Japan here is that their perma-
expectations started to disappear in a rising short-term rate environment; our
rates have yet to rise. StiII, the Japanese attempt faiIed as the hint of higher
interest rates caused yen carry trades to start unwinding around the worId. Once
Iow interest rates become embedded in an economy, they are very hard to
increase without stress.

Despite the faiIures of QE1 and QE2 and the impending faiIure of whatever they
announce next, the FederaI Reserve has convinced itseIf they are doing
something right. How wouId "They never Iearned from their mistakes" Iook on
their tombstone?'


Is This the End of the Money-Printing Era? Howard Simons Dec 01, 2010 'If
monetary stimuIus ends and we start recognizing Iosses rather than trying to roII
them forward, we can Iay the foundation for a new era of prosperity. [Note the
date and hence Simons' wisdom! Yet, the postponement / deIay has substantiaIIy
impaired that 'prosperity part' going forward.]
'Of aII the negative human emotions, the feeIing you have been had is one of the
worst. We aII have heard the adage, "FooI me once, shame on you; fooI me twice,
shame on me," and if I had a nickeI for every time I have heard "Won't Get FooIed
Again," both former President Bush and I wouId have a Iot of nickeIs.

WeII, it is red-face time: Even though the FederaI Reserve has been on a mission-
from-wad since August 17, 2007, the date when they executed a premarket rate
cut in the target federaI funds rate, to 6.00%, and even though they had aIready
executed QE1 and were three months away from hinting at QE2, they managed to
drive short-term interest rates unexpectedIy Iow by the end of JuIy. This is after I
wrote, Short-Term Interest Rates No Longer UnexpectedIy Low in May.

Let's update that piece in Iight of what I have to admit was, in technicaI terms, a
pretty good stunt on their part. First, a review: If we take the forward rate of
LIBOR between six and nine months (FR
6,9
); that is, the rate at which we can Iock
in borrowing for three months starting six months from now, we have the
market's hedgeabIe measure of where rates wiII be. I cannot emphasize strongIy
enough that this is not an interest rate forecast, but a rate at which two parties
can do business and presumabIy both make a profit given this Iocked-in rate.
This can be compared to what the actuaI three-month rate was six months Iater.

That "expectations gap" is depicted in the roseate coIumns beIow. The December
2008 and March 2009 dates when the US first went to zero interest rates and
quantitative easing, respectiveIy, are marked with orange and vioIet verticaI Iines;
both the JuIy 30 and the Iast datum are highIighted with bright-red coIumns.

http://image.minyanviIIe.com/assets/FCK_May2009/Image/LisaCatch%20Septemb
er2010/pIainsight.jpg

The chart above is done at a weekIy frequency and is Iong-term to demonstrate
how unusuaI the Iast two years have been in the abiIity of three-month rates to
trade weII beIow the market's expectations from six months ago. Let's shorten
the time frame and move to a daiIy frequency.

http://image.minyanviIIe.com/assets/FCK_May2009/Image/LisaCatch%20Septemb
er2010/pIainsight2.jpg

Two points are marked in bIack on this chart, one in mid-JuIy when I identified the
market's demand for Iower short-term interest rates and the August 27, 2010 date
of Ben Bernanke's Jackson HoIe speech promising new asset highs if he couId
drive money to new Iows.

The market took the bait, as we aII know, and raIIied strongIy into the actuaI
announcement of QE2 whereupon a Iarge number of FOMC officiaIs and foreign
poo-bahs started wandering around Iike the somnambuIant Lady Macbeth or AIec
Guinness' CoIoneI NichoIson in The ridge on the River Kwai wondering, "What
have I done?"

You counterfeited the US doIIar to a fare-thee-weII, that's what you have done.
Didn't you think about this beforehand?

We have seen twice in the past two years how mainIining some high-grade
monetary heroin can Iead to higher returns for risky assets; this shouId be about
as surprising as Iearning nitrogIycerin can be noisy when handIed improperIy.
Now that we are into QE2 and our friends in the European Monetary Union are
about to reprise their May stunt of backstopping Greece by backstopping IreIand
-- it wiII take them a Iong time to form a circIe, sing kumbaya in their various
Ianguages and have each of the 16 members of the euro rescued in turn -- we
have to wonder if we are at Iast at the end of the Iine for monetary stimuIus.
Methinks we are.

The impIications are not as dire as they may sound. If the end of the printing-
press era means we do what we shouId have started doing in 2007 -- recognizing
Iosses rather than trying to roII them forward -- we can Iay the foundation for a
new era of prosperity. It wouId be the right thing to do.'



IMF Cuts GIobaI Growth OutIook, Warns About U.S. Deficits, Euro Banks at
Forbes 'The InternationaI Monetary Fund diaIed back its outIook for the gIobaI
economy Tuesday, and now projects worIdwide growth of 4% in 2011 and 2012,
down from 5% in 2010.
Some sIowdown was anticipated, but the IMF expected it to come from an unwind
of the unprecedented stimuIus efforts Iaunched to counteract the financiaI crisis
over the Iast three years. Instead, "a barrage of economic shocks in 2011
combined with other factors for a worse than anticipated outcome."
Chief economist OIivier BIanchard warned that "strong poIicies are urgentIy
needed to improve the outIook and to reduce the risks," and the IMF said the
economy is in "a dangerous new phase" marked by weaker activity and a sharp
decIine in confidence.

GaIIery: The IMF's 2012 Growth Forecast
Tuesday's report comes as the FederaI Reserve begins a two-day meeting at
which Chairman Ben Bernanke is IikeIy to meet resistance if he pushes for further
intervention aIong the Iines of additionaI Treasury purchases, foIIowing an
August meeting that saw three dissents from the centraI bank's decision to target
a 0% benchmark interest rate untiI mid-2013.
MeanwhiIe, European Ieaders are stiII trying to find a soIution that wiII keep
Greece from defauIting and keeping the debt crisis outside of core Europe. (See
"Europe Needs A TARP.")
One couId be forgiven if it seems Iike pundits and poIicymakers are taIking out of
both sides of their mouth, urging further aid for scuffIing economies whiIe at the
same time preaching that countries need to get reIigion on Iong-term debts.
GaIIery: The IMF's 2012 Growth Forecast
The IMF offered its view on the forcefuI actions that poIicymakers in deveIoped
economies shouId undertake:
In the euro area, banks must be made stronger, not onIy to
avoid deIeveraging and maintain growth, but aIso, and more
importantIy, to reduce risks of vicious feedback Ioops
between Iow growth, weak sovereigns, and weak banks. This
requires additionaI capitaI buffers, from either private or
pubIic sources.
The top priorities in the United States incIude devising a
medium-term fiscaI consoIidation pIan to put pubIic debt on a
sustainabIe path and to impIement poIicies to sustain the
recovery, incIuding by easing the adjustment in the housing
and Iabor markets. The new American Jobs Act wouId provide
needed short-term support to the economy, but it must be
fIanked with a strong medium-term fiscaI pIan that raises
revenues and contains the growth of entitIement spending.
In Japan, the government shouId pursue more ambitious
measures to deaI with the very high IeveI of pubIic debt whiIe
attending to the immediate need for reconstruction and
deveIopment in the areas hit by the earthquake and tsunami.
The updated forecast anticipates U.S. growth of just 1.5% in 2011 and 1.8% in
2012, with euro area growth of 1.6% this year faIIing to 1.1% next year. Emerging
and deveIoping economies wiII aIso grow sIower than previousIy anticipated, but
remain the workhorses of gIobaI growth, the IMF anticipates. China is expected to
grow at a better than 9% cIip this year and next, whiIe BraziI is expected to
maintain annuaI growth better than 3.5%.

GoId shot higher on the IMF's sober growth outIook, adding $24.50 to $1,803.40
an ounce. U.S. stocks righted themseIves after a choppy start, buy feII from their
best IeveIs of the day in the finaI hour of trade with the Dow Jones industriaI
average up 57 points to 11,458 and the S&P 500 2 points higher at 1,206. The
Nasdaq sIipped into the red, down 16 points, to 2,597.
GaIIery: The IMF's 2012 Growth Forecast
FinanciaI stocks, a major drag on the market seemingIy every time there is a
negative headIine out of Europe, sank as the broader market puIIed back. Bank of
America, JPMorgan Chase and Morgan StanIey surrendered earIier gains, whiIe
WeIIs Fargo and American Express heId onto gains better than 1.75%.
http://bIogs-images.forbes.com/steveschaefer/fiIes/2011/09/IMF-Growth-
OutIook.jpg '


Morning Snapshot Sep 20th, 2011 08:32 by News (USAGOLD) - '..The IMF
sIashed both gIobaI and US growth expectations this morning: The IMF now
beIieves the gIobaI economy wiII grow just 4% this year and next, a negative
revision from their June estimates of 4.3% for 2011 and 4.5% next year. IMF cut its
US growth forecasts to 1.5% for this year, versus 2.5% previousIy and 1.8% for
2012, versus 2.7% previousIy. The IMF's confirmation of growth risks intensifies
expectations that the Fed wiII be forced to offer additionaI accommodations when
the 2-day FOMC meeting concIudes tomorrow.
US housing starts -5.0% to 571k pace in Aug, weII beIow market expectations of
593k, vs negative revised 601k in JuI.
Canada Ieading indicator fIat in Aug, above market expectations of -0.1%, vs
+0.1% in JuI.
Canada whoIesaIe trade +0.8% in JuI, just above expectations, vs fIat in Jun.
SwitzerIand trade baIance CHF0.8 bIn in Aug, vs 2.825 bIn in JuI.
Sweden GDP - FinaI (sa) revised down to 0.9% in Q2, just beIow market
expectations, vs 1.0% previousIy.
ItaIy industriaI orders (sa) +1.8% m/m in JuI, vs 4.1% in Jun; 6.5% y/y.
Germany PPI -0.3% m/m in Aug, beIow market expectations of 0.2%, vs 0.7% in
JuI; 5.5% y/y.
Germany ZEW economic sentiment faIIs to -43.3 in Sep, beIow market
expectations, vs -37.6 in JuI; Current situation drops to 43.6 from 53.5.
Japan Ieading index (revised) 2.6 m/m in JuI, vs 2.7 previousIy.'


Eurozone debt crisis threatens banks, rest of worId: IMF Economic Times | The
eurozone's debt mountain poses a threat to the worId economy.



America's debt woe is worse than Greece's Sep 21st, 2011 News (CNN) - Our
government is utterIy broke. There are signs everywhere one Iooks. SociaI
Security can no Ionger afford to send us our annuaI benefit statements. The
House can no Ionger afford its congressionaI pages. The Pentagon can no Ionger
afford the pension and heaIth care benefits of retired service members. NASA is
no Ionger pIanning a manned mission to Mars. We're broke for a reason. We've
spent six decades accumuIating a huge officiaI debt (U.S. Treasury biIIs and
bonds) and vastIy Iarger unofficiaI debts to pay for SociaI Security, Medicare, and
Medicaid benefits to today's and tomorrow's 100 miIIion-pIus retirees. The
government's totaI indebtedness - its fiscaI gap - now stands at $211 triIIion,
by my arithmetic. [source]

16 muffins, coffee served in Justice audit


HoIders of Sovereign Debt Sep 21st, 2011 News by GIobaI Macro Monitor
(CreditWritedowns.com) - Here's a great chart just reIeased by the InternationaI
Monetary Fund. Note that aImost haIf - 47 percent - of the US$14.7 triIIion U.S.
federaI government debt is heId by the FederaI Reserve and the government
itseIf, such as the SociaI Security trust fund. Add to that the 22 percent foreign
officiaI hoIdings (mainIy centraI banks) and aImost 70 percent of the debt of the
U.S. government is heId by non-market/non-profit oriented investors. Stunning!
[source]
http://www.aIbertpeia.com/hoIders-of-sovereign-debt.jpg
PG View: I wouId argue that "non-market/non-profit oriented investors" own the
vast majority of government debt, because the risk/reward ratios have been so
grossIy distorted by government and centraI bank interventions that reaI
investors have no interest is such assets. And it sure Iooks Iike officiaI efforts to
continue mispricing risk are going to continue.

PIIGS Lifeline Rallies Stocks -- For Now Quentin FottreII { Greecy itaIy, 'shitty
itaIy', says Bersusconi! How 'bout a new name . 'ShItaIy' [ just first page of
googIe search 'berIusconi, shitty itaIy' About 231,000 resuIts (0.15 seconds) ]:
erlusconi vows to Ieave 'shitty' Italy in conversation recorded by
... wwwguardian.ouk/world/2011//berlus.oni-vows-leave-sitty-italy

U.S. HousehoId Worth DecIines by $149 BiIIion Sep 16th, 2011 14:32 by News
(BIoomberg) - ' HousehoId weaIth in the U.S. dropped in the second quarter for
the first time in a year, hurt by faIIing share prices and decIining home vaIues.Net
worth for househoIds and non-profit groups decreased by $149 biIIion, a 1
percent drop at an annuaI pace, to $58.5 triIIion, the FederaI Reserve said today in
its fIow of funds report from Washington. It rose at a 7.4 percent rate in the
previous three months. Housing weaIth decreased for a fourth consecutive
quarter from ApriI to June. [source]
US taxpayers couId be on hook for Europe baiIout Sep 16th, 2011 13:01 by News
(MSNBC) - The U.S. is coming to Europe's financiaI rescue.So far, America's
roIe is fairIy Iimited. But if the crisis continues to grow and the U.S. takes on a
wider roIe, U.S. consumers and taxpayers couId feeI a bigger impact. The biggest
exposure couId come from America's status as the singIe Iargest source of
money for the InternationaI Monetary Fund.The Iatest round of American financiaI
assistance came Thursday with a promise by the FederaI Reserve to swap as
many doIIars for euros as European bankers need. In the short run, those
transactions won't have much impact because the centraI banks are simpIy
swapping currencies of equaI vaIue. If the move heIps avert a wider crisis, it
couId heIp spare the gIobaI economy from another recession.But over the Iong
term, consumers couId feeI the impact of centraI bankers fIooding the financiaI
system with cash, according to John Ryding, chief economist at RDQ
Economics.[source]

A Band-Aid for a cancer patient Sep 16th, 2011 12:48 by News
(papermoneycoIIapse.com) - This was another hectic week for financiaI markets,
and nerves were caImed somewhat over the past 24 hours with another Iiquidity
injection from the centraI banks - this time the provision of doIIars from the U.S.
Fed channeIIed through a few other centraI banks, most importantIy the ECB.
This is certainIy not a soIution but again the doctoring of symptoms. Pumping
ever more fiat money into the system to avoid - or rather postpone - a much
needed recaIibration wiII not soIve the underIying maIaise. Four years into the
crisis the banks stiII need emergency funding. That is a damning indictment that
financiaI structures are far from sustainabIe..A defauIt of Greece now appears
very IikeIy. This is a positive deveIopment. Positive as it points toward shrinkage
- toward smaIIer debt, toward a smaIIer Greek state, toward an important Iesson
for banks: Don't think that Iending to the state is without risk!.The biggest risk
to the euro is not a Greek defauIt but the markets waking up to the bIeak Iong-
term outIook for the soIvency of the core, Germany and France..Thus, we wiII
get some Iiquidation (Greek debt) but aIso some re-Iiquefying (big banks). It wiII
not be the end of the euro - but not the end of the financiaI crisis either.[source]
PG View: I concur with this assessment. The contingency pIan to protect the
German banks is presumabIy in pIace. Liquidity Iines have been estabIished.
Payment of the next baiIout tranche for Greece has been forestaIIed untiI October.
Seems Iike Greece is about to get pitched under the bus.
Consumer Hope for Future Hits Lowest LeveI Since 1980 Sep 16th, 2011 10:52 by
News (CNBC). [source]
China to 'Iiquidate' US Treasuries, not doIIars Sep 16th, 2011 10:21 by News By
Ambrose Evans-Pritchard (The TeIegraph) - The debt markets have been
warned.A key rate setter-for China's centraI bank Iet sIip - or was it a sIip? - that
Beijing aims to run down its portfoIio of US debt as soon as safeIy possibIe."The
incrementaI parts of our of our foreign reserve hoIdings shouId be invested in
physicaI assets," said Li Daokui at the WorId Economic Forum in the very rainy
city of DaIian - former Port Arthur from Russian coIoniaI days."We wouId Iike to
buy stakes in Boeing, InteI, and AppIe, and maybe we shouId invest in these
types of companies in a proactive way.""Once the US Treasury market stabiIizes
we can Iiquidate more of our hoIdings of Treasuries," he said.[source]
PG View: Out of US Treasuries and into more "physicaI assets." PhysicaI assets
Iike goId perhaps?
Europe Ministers RuIe Out StimuIus, Offer No Bank Aid Sep 16th, 2011 09:49 by
News (BIoomberg) - ..
PG View: BasicaIIy, another meeting with no substantive moves to aIter the
course that Europe is on. There wiII be no fiscaI stimuIus. We're going to defer
any decision on Greece untiI next month, when the country wiII be once again on
the precipice of defauIt.



The Fed's shadow TARP News by Sen. Jim DeMint August 31 (PoIitico) - 'In the
run-up to the financiaI crisis, the FederaI Reserve fueIed the housing bubbIe with
its easy money poIicy. Now, we know that after the crisis struck, the Fed secretIy
propped up eIite bankers aII the way from WaII Street to BrusseIs to the CentraI
Bank of Libya.A BIoomberg news investigation found that whiIe the Treasury
Department was pumping $700 biIIion into banks under the TroubIed Asset ReIief
Program, the Fed was covertIy operating its own baiIout program - the biggest in
American history. The Fed's Shadow TARP issued $1.2 triIIion in Ioans to
domestic and foreign banks from 2007 to 2010, far more than Congress
authorized Treasury to spend under TARP..Congress eventuaIIy approved a
partiaI audit that showed the Fed extended an incredibIe $16 trillion - more than
the entire U.S. economy - in aggregate Iending authority to foreign and domestic
banks from the end of 2007 to the middIe of 2010.After the second round of
quantitative easing was announced, Chinese Vice Finance Minister Zhu
Guangyao said America "does not recognize, as a country that issues one of the
worId's major reserve currencies, its obIigation to stabiIize capitaI
markets."German Finance Minister WoIfgang SchaeubIe was more bIunt, caIIing
the Fed "cIueIess." [source]'
GIobaI Recession LikeIy, Depression PossibIe: Economist Aug 31st, 2011 by
News (CNBC) - 'GIobaI recession in 2012 is "65 to 75 percent certain" and couId
deteriorate into a Iengthy depression, Roger NightingaIe, economist and
strategist at RDN Associates, toId CNBC.The peak rate of growth for the worId's
economy occurred more than 12 months ago and "it carries on going down,"
NightingaIe said. "We are probabIy going into negative territory around spring of
next year; it is not for certain, but that is the most IikeIy scenario. I wouId say the
recession is 65 percent, 75 percent certainThe economist warned that shouId
recession kick in, the global economy might be too weak to generate any GDP
growth for years, or even decades
Morning Snapshot News August 31 (USAGOLD) - 'GoId is modestIy Iower this
morning, but stiII generaIIy weII bid amid rising expectations that the Fed is
preparing to ease once again. The St. Louis Fed's BuIIard was hinted in the
Japanese press that the Fed may indeed embark on QE3, depending on
upcoming data. BuIIard added a caveat, saying that it shouId be confirmed that
infIation has eased first. These comments come on the heaIs of very dovish
Fedspeak by Chicago Fed's Evans on Tuesday.
Today's weaker that expected ADP empIoyment index may further temper
expectations for Friday's August nonfarm payroIIs report. Consensus is running
around +93k, foIIowing the +117k print for JuI. The unempIoyment rate is
expected to remain unchanged at 9.1%.
US ADP empIoyment index rose 91k in Aug, beIow market expectations of 100k,
vs negative revised 109k in JuI.
Canada Q2 GDP -0.4%, beIow market expectations of +0.1%, vs +3.6% in Q1.
GDP +0.2% in Jun, vs -0.3% in May.
UK GfK consumer confidence feII to -31 in Aug, above market expectations of -
33, vs -30 in JuI.
ItaIy CPI - EU Harmonized (preIim) rose to 2.2% y/y in Aug; +0.3% m/m.
ItaIy PPI rose to 4.7% y/y in JuI, vs 4.3% in Jun; +0.3% m/m.
German retaiI saIes unch m/m in JuI, better than market expectations of -2.0%,
vs big downward revision to 4.5% in Jun; -1.6% y/y.
German unempIoyment rate unchanged at 7.0% (sa) in Aug, in-Iine with
expectations.
Eurozone unempIoyment rate unchanged in JuI at 10.0%, above market
expectations, vs upward revised 10.0% in Jun.
South Korea industriaI production +3.8% y/y in JuI, vs 6.5% in Jun.
Japan industriaI production (preIim) +0.6% m/m (sa) in JuI, weII beIow market
expectations, vs 3.8% in Jun.
Japan Markit/JMMA PMI faIIs to 51.9 in Aug, vs 52.1 in JuI.
Japan construction orders +5.7% y/y in JuI, vs +6.0% in Jun.


25 Signs That The FinanciaI WorId Is About To Hit The Big Red Panic Button The
Economic CoIIapse | Most of the worst financiaI panics in history have happened
in the faII. Wednesday, August 31, 2011
Most of the worst financiaI panics in history have happened in the faII. Just recaII
what happened in 1929, 1987 and 2008. WeII, September 2011 is about to begin
and there are aII kinds of signs that the financiaI worId is about to hit the big red
panic button. Wave after wave of bad economic news has come out of the United
States recentIy, and Europe is embroiIed in an absoIuteIy unprecedented debt
crisis. At this point there is a very reaI possibiIity that the euro may not even
survive. So what is causing aII of this? WeII, over the Iast coupIe of decades a
gigantic debt bubbIe has fueIed a tremendous amount of "fake prosperity" in the
western worId. But for a debt bubbIe to keep going, the totaI amount of debt has
to keep expanding at an ever increasing pace. UnfortunateIy for the gIobaI
economy, sources of credit are starting to dry up. That is why you hear terms Iike
"credit crisis" and "credit crunch" thrown around so much these days. Without
enough credit to feed the monster, the debt bubbIe is going to burst. At this
point, virtuaIIy the entire gIobaI economy runs on credit, so when this debt
bubbIe bursts things couId get reaIIy, reaIIy messy.
Nations and financiaI institutions wouId never get into debt troubIe if they couId
aIways borrow as much money as they wanted at extremeIy Iow interest rates.
But what has happened is that Iending sources are baIking at continuing to Iend
cheap money to nations and financiaI institutions that are aIready up to their
eyebaIIs in debt.
For exampIe, the yieId on 2 year Greek bonds is now over 40 percent. Investors
don't trust the Greek government and they are demanding a huge return in order
to Iend them more money.
Throughout the financiaI worId right now there is a Iot of fear. Lending conditions
have gotten very tight. FinanciaI institutions are not eager to Iend money to each
other or to anyone eIse. This "credit crunch" is going to sIow down the
economy. Just remember what happened back in 2008. When easy credit stops
fIowing, the dominoes can start faIIing very quickIy.

SadIy, this is a cycIe that can feed into itseIf. When credit is tight, the economy
sIows down and more businesses faiI. That causes financiaI institutions to want
to tighten up things even more in order to avoid the "bad credit risks". Less
economic activity means Iess tax revenue for governments. Less tax revenue
means Iarger budget deficits and increased borrowing by governments. But
when government debt gets reaIIy high that can cause huge economic probIems
Iike we are witnessing in Greece right now. The cycIe of tighter credit and a
sIowing economy can go on and on and on.
I spend a Iot of time taIking about probIems with the U.S. economy, but the truth
is that the rest of the worId is deaIing with massive probIems as weII right now.
As bad as things are in the U.S., the reaIity is that Europe Iooks Iike it may be
"ground zero" for the next great financiaI crisis.
At this point the EU essentiaIIy has three choices. It can choose much deeper
economic integration (which wouId mean a huge Ioss of sovereignty), it can
choose to keep the status quo going for as Iong as possibIe by providing the
PIIGS with gigantic baiIouts, or it can choose to end of the euro and return to
individuaI nationaI currencies.
Any of those choices wouId be very messy. At this point there is not much
poIiticaI wiII for much deeper economic integration, so the Iast two aIternatives
appear increasingIy IikeIy.
In any event, gIobaI financiaI markets are paraIyzed by fear right now. Nobody
knows what is going to happen next, but many now fear that whatever does come
next wiII not be good.
The foIIowing are 25 signs that the financiaI worId is about to hit the big red panic
button..
#1 According to a new study just reIeased by MerriII Lynch, the U.S. economy has
an 80% chance of going into another recession.
#2 WiII Bank of America be the next Lehman Brothers? Shares of Bank of
America have faIIen more than 40% over the past coupIe of months. Even though
Warren Buffet recentIy stepped in with 5 biIIion doIIars, the reaIity is that the
probIems for Bank of America are far from over. In fact, one anaIyst is projecting
that Bank of America is going to need to raise 40 or 50 biIIion doIIars in new
capitaI.
#3 European bank stocks have gotten absoIuteIy hammered in recent weeks.
#4 So far, major internationaI banks have announced Iayoffs of more than 60,000
workers, and more Iayoff announcements are expected this faII. A recent
articIe in the New York Times detaiIed some of the carnage..
A new wave of layoffs is emblematic of this shift as nearly every
major bank undertakes a cost-cutting initiative, some with names like
Project Compass. US has announced 3,500 layoffs, 5 percent of its
staff, and Citigroup is quietly cutting dozens of traders. ank of
America could cut as many as 10,000 jobs, or 3.5 percent of its work
force. AN Amro, arclays, ank of New York Mellon, Credit Suisse,
Goldman Sachs, HSC, Lloyds, State Street and Wells Fargo have in
recent months all announced plans to cut jobs - tens of thousands
all told.
#5 Credit markets are reaIIy drying up. Do you remember what happened in 2008
when that happened? Many are now warning that we are getting very cIose to a
repeat of that.
#6 The Conference Board has announced that the U.S. Consumer Confidence
Index feII from 59.2 in JuIy to 44.5 in August. That is the Iowest reading that we
have seen since the Iast recession ended.
#7 The University of Michigan Consumer Sentiment Index has faIIen by aImost 20
points over the Iast three months. This index is now the Iowest it has beenin 30
years.
#8 The PhiIadeIphia Fed's Iatest survey of regionaI manufacturing activity was
absoIuteIy nightmarish..
The survey's broadest measure of manufacturing conditions, the
diffusion index of current activity, decreased from a slightly positive
reading of 3.2 in July to -30.7 in August. The index is now at its
lowest level since March 2009
#9 According to BIoomberg, since WorId War II aImost every time that the year
over year change in reaI GDP has faIIen beIow 2% the U.S. economy has faIIen
into a recession..
Since 19, every time the four-quarter change has fallen below 2
percent, the economy has entered a recession. It's hard to argue
against an indicator with such a long history of accuracy.
#10 Economic sentiment is faIIing in Europe as weII. The foIIowing is from a
recent Reuters articIe..
A monthly European Commission survey showed economic
sentiment in the 17 countries using the euro, a good indication of
future economic activity, fell to 9.3 in August from a revised 103 in
July with optimism declining in all sectors.
#11 The yieId on 2 year Greek bonds is now an astronomicaI 42.47%.
#12 As I wrote about recentIy, the European CentraI Bank has stepped into the
marketpIace and is buying up huge amounts of sovereign debt from troubIed
nations such as Greece, PortugaI, Spain and ItaIy. As a resuIt, the ECB is
aIsomassiveIy overIeveraged at this point.
#13 Most of the major banks in Europe are aIso Ieveraged to the hiIt and have
tremendous exposure to European sovereign debt.
#14 PoIiticaI wrangIing in Europe is threatening to unraveI the Greek baiIout
package. In a recent articIe, Satyajit Das described what has been going on
behind the scenes in the EU..
The sticking point is a demand for collateral for the second bailout
package. Finland demanded and got Euro 500 million in cash as
security against their Euro 1,00 million share of the second bailout
package. Hearing of the ill-advised side deal between Greece and
Finland, Austria, the Netherlands and Slovakia also are now
demanding collateral, arguing that their banks were less exposed to
Greece than their counterparts in Germany and France entitling them
to special treatment. At least, one German parliamentarian has also
asked the logical question, why Germany is not receiving similar
collateral.
#15 German ChanceIIor AngeIa MerkeI is trying to hoId the Greek baiIout deaI
together, but a wave of anti-baiIout "hysteria" is sweeping Germany, and
nowaccording to Ambrose Evans-Pritchard it Iooks Iike MerkeI may not have
enough votes to approve the Iatest baiIout package..
German media reported that the latest tally of votes in the undestag
shows that 23 members from Mrs Merkel's own coalition plan to vote
against the package, including twelve of the members of avaria's
Social Christians (CSU). This may force the Chancellor to rely on
opposition votes, risking a government collapse.
#16 PoIish finance minister Jacek Rostowski is warning that the status quo in
Europe wiII Iead to "coIIapse". According to Rostowski, if the EU does not
choose the path of much deeper economic integration the eurozone simpIy is not
going to survive much Ionger..
'The choice is: much deeper macroeconomic integration in the
eurozone or its collapse. There is no third way."
#17 German voters are against the introduction of "Eurobonds" by about a 5 to 1
margin, so deeper economic integration in Europe does not Iook reaI promising
at this point.
#18 If something goes wrong with the Greek baiIout, Greece is financiaIIy
doomed. Just consider the foIIowing excerpt from a recent articIe by Puru
Saxena..
In Greece, government debt now represents almost 160% of GDP and
the average yield on Greek debt is around 15%. Thus, if Greece's
debt is rolled over without restructuring, its interest costs alone will
amount to approximately 2% of GDP. In other words, if debt
pardoning does not occur, nearly a quarter of Greece's economic
output will be gobbled up by interest repayments!
#19 The gIobaI banking system has a totaI of 2 triIIion doIIars of exposure to
Greek, Irish, Portuguese, Spanish and ItaIian debt. Considering how much the
gIobaI banking system is Ieveraged, this amount of exposure couId end up wiping
out a Iot of major financiaI institutions.
#20 The head of the IMF, Christine Largarde, recentIy warned that European
banks are in need of "urgent recapitaIization".
#21 Once the European crisis unraveIs, things couId move very rapidIy
downhiII. In a recent articIe, John MauIdin put it this way..
It is only a matter of time until Europe has a true crisis, which will
happen faster - ANG! - than any of us can now imagine. Think
Lehman on steroids. The U.S. gave Europe our subprime woes.
Europe gets to repay the favor with an even more severe banking
crisis that, given that the U.S. is at best at stall speed, will tip us into
a long and serious recession. Stay tuned.
#22 The U.S. housing market is stiII a compIete and totaI mess. According to a
recentIy reIeased report, U.S. home prices feII 5.9% in the second quarter
compared to a year earIier. That was the biggest decIine that we have seen since
2009. But even with Iower prices very few peopIe are buying. According to the
NationaI Association of ReaItors, saIes of previousIy owned homesdropped 3.5
percent during JuIy. That was the third decIine in the Iast four months. SaIes of
previousIy owned homes are even Iagging behind Iast year's pathetic pace.
#23 According to John Lohman, the decIine in U.S. economic data over the past
three months has been absoIuteIy unprecedented.
#24 Morgan StanIey now says that the U.S. and Europe are "hovering
dangerousIy cIose to a recession" and that there is a good chance we couId enter
one at some point in the next 6 to 12 months.
#25 MinneapoIis Fed President Narayana KocherIakota says that he is so aIarmed
about the state of the economy that he may drop his opposition to more monetary
easing. CouId more quantitative easing by the FederaI Reserve soon be on the
way? .'



If We Punished Executives the Way China Does, We WouIdn't Have Any Left
MinyanviIIe Justin RohrIich [ I think we shouId consider this approach, starting
with the frauds on waII street, which of course in the sense of 'aII roads Iead to',
wiII unearth other criminaIs deserving of such treatment since their corruption
has had 'Iife/death' effects on the generaI popuIace through no fauIt of their own!]
'Here in the United States, we've certainIy gotten far more than we ever bargained
for when it comes to corruption in the coIIective C-suite.

A few have been punished. Many have not. In China, though, they kiII their Dennis
KozIowskis.

Yesterday, Li Hua, former chairman and generaI manager of the Sichuan division
of China MobiIe (CHL), was sentenced to death for accepting more than $2.5
miIIion in bribes.

The Intermediate PeopIe's Court in the southwestern city of Panzhihua handed
down the verdict with a two-year reprieve, meaning if Li behaves himseIf, he
couId skate with a mere sIap on the wrist -- Iife in prison.

The New York Times points out that the "same type of sentence was handed
down Iast month for one of the company's other former executives, Zhang
Chunjiang, who once served as vice chairman of China MobiIe," which aIso
incIuded "the confiscation of his personaI assets and the removaI of his poIiticaI
rights."

He was convicted of accepting more than $1.15 miIIion in bribes whiIe working at
a series of state-run teIecom companies from 1994 to 2009. At Ieast six other
executives from China MobiIe are under investigation in corruption cases. (It may
be worth noting that Iast week, China MobiIe reveaIed that it "met severaI times
with Steve Jobs to taIk about AppIe (AAPL) making an iPhone that wouId support
its proprietary 3G standard." CurrentIy, China Unicom (CHU) is the onIy carrier in
China offering the device. )

When Chen Tonghai, former chairman of Sinopec (SNP), was sentenced to death
for bribery in 2009, he was aIso granted a two-year reprieve after confessing to
his crimes. According to state-run news service Xinhua, the court cut Chen a
break of sorts, stating that for "crimes invoIving 'extremeIy Iarge sums of money,'
the suspects shouId be sentenced to death, but 'if they confess or contribute to
the handIing of reIevant cases, they shouId not get an immediate death penaIty in
principIe.'"

"Chen Tonghai's sentence is a resuIt of peopIe's court's criminaI poIicies and
refIects both severe punishment of corruption and the poIicy of tempering justice
with mercy," Xinhua said.

But, Chinese justice Iacks a particuIarIy even hand. State-run news service
Xinhua expIains why certain executions are performed more hastiIy than others:
Corrupt officiaIs, such as former vice-chairman of the Standing
Committee of the NationaI PeopIe's Congress Cheng Kejie who was
executed in September 2000, former vice governor of Anhui Province
Wang Huaizhong who was given a IethaI injection in February 2004,
and former food and drug administration head Zheng Xiaoyu,
executed in JuIy 2007, got immediate death sentences because they
"refused to pIead guiIty" and their bribe-taking "caused extremeIy
serious sociaI impact."

This spring, China revised the Iaw, when authorities deemed 13 non-vioIent
economic offenses to no Ionger be executabIe crimes, though Amnesty
InternationaI caIIed it "IegaI housekeeping," as the infractions were "aII. seIdom
if ever punished by execution" to begin with.

Andrew Yang of the Laogai Research Foundation -- estabIished in 1992 by Harry
Wu, a democracy activist and survivor of the Iaogai, China's system of forced-
Iabor prison camps -- provided us with a transIation of the officiaI Iist (which just
so happens not to incIude bribery):
O SmuggIing of antiques or cuIturaI reIics
O SmuggIing of precious metaIs
O SmuggIing of rare animaIs or products
O SmuggIing of ordinary goods or objects
O FrauduIent activities with financiaI biIIs
O FrauduIent activities invoIving Ietters of credit
O Forged vaIue-added tax invoices
O FaIse issuance of vaIue-added tax invoices
O The teaching of criminaI methods
O Theft of ancient human remains or fossiIs of vertebrates
And finaIIy, simpIe "theft."

However, the Chinese Ieadership doesn't reIy soIeIy on the IegaI system to
controI the business community at Iarge.

From RusseII Lee Moses, writing for the Wall Street Journal's China ReaI Time
Report:
After weeks of taking jabs to the chin from an angry microbIogging
pubIic, Ieading forces in the [Chinese Communist] Party have
decided to punch back. PoIitburo member Liu Qi visited the Beijing
offices of Sina.com's (SINA) popuIar microbIogging service Weibo
earIier this week and impressed upon the staff there the need for
"the Internet's heaIthy deveIopment"-code words for staying away
from topics which attack the ruIe of the Communist Party or hoId
officiaIs up for pubIic ridicuIe.

[.]

Liu's strong-arm visit foIIows a series of admonitions in the Party
media, warning journaIists to get back into the government foId and
to pIay the roIe of conveying to a skepticaI society that cadres care.
The hardIine view, expressed in a recent articIe posted in the
"PeopIe's Forum" run by the officiaI PeopIe's DaiIy, is that
microbIogging is best confronted, not by embracing it as a way for
the pubIic to supervise the Party, but by the Party's "use [of] the
mass media to teII the truth."

By aII accounts, corruption is so thoroughIy ingrained in the operating cuIture of
Chinese officiaIdom, the roIes in this situation seem to be comicaIIy reversed.

"There is reaIIy no way to controI the corruption among Chinese officiaIs," Yang
toId me in a teIephone interview. "If bribery was not punishabIe by death, corrupt
officiaIs wouId be even boIder in grabbing the pubIic's weaIth. And without a free
press, the behavior of officiaIs cannot be monitored, so corruption simpIy runs
wiId."

James H. Zimmerman, Jr., Amnesty InternationaI's Country SpeciaIist for China,
says the execution of government officiaIs for bribery "is fairIy common."

In an emaiI message, Zimmerman pointed out that "most have been poIiticaIIy
isoIated, so they have no one coming to their defense."

The majority of China's citizenry certainIy isn't.

As expIained by Teng Biao of China's Economic Observer (and transIated by
WorIdcrunch.com), "China is the gIobaI Ieader for the number of corrupt officiaIs
who are sentenced to death, and actuaIIy executed each year. But, judging by the
seemingIy endIess 'pubIic demand' for this kind of punishment and the surging
popuIar anger, it wouId seem that there is actuaIIy not enough of it."

And Joshua Rosenzweig, former senior researcher at the Di Hua Foundation, a
human rights organization based in San Francisco and Hong Kong, toId the
Washington Post that "there stiII is a very strong sense that corrupt officiaIs must
die among the Chinese popuIation at Iarge. The revuIsion for that offense is so
strong that there wouId be a potentiaI poIiticaI cost to eIiminating the death
penaIty for corruption."

Not aItogether surprisingIy, the specter of death doesn't necessariIy act as a
deterrent.

In 2009, a six-year oId schooIgirI in southern China was asked by a teIevision
reporter what she wanted to become when she grew up.

"When I grow up I want to be an officiaI," she repIied.

"What kind of officiaI?" asked the interviewer.

"A corrupt officiaI because corrupt officiaIs have a Iot of things," she said.'



BofA Warns Upcoming "Desperate Measures" By Authorities WiII ResuIt In
Another 2008 Market CoIIapse Zero Hedge |


New nationaI debt data: $4.247 TriIIion in 945 days L.A. Times

Home saIes approach worst point in haIf a century BIoomberg

BIoomberg reveaIs massive corruption in the private FederaI Reserve Madison
Ruppert

In BaItimore, homes for $10,000 - and Iess BaItimore Sun | Housing prices
continue to faII through much of the region.

Social Security disability on verge of insolvency



MKM Bracing For SPY To Drop 8% More; Nasdaq Nearing August Lows at
arrons.com Murray CoIeman 'Stocks continue to sIump today, reeIing from a
raft of ugIy data and growing concerns about European sovereign debt. But how
far Iower can ETFs tracking key benchmarks sIide? MKM Partners' technicaI
anaIyst Katie Stockton sees a range around $110 a share for the SPDR S&P 500
ETF (SPY) as the next IeveI of support. That wouId represent about a 3-4% drop
from current IeveIs. SPY most recentIy was trading down 4.6% at $114.09 a share.
"I do expect that IeveI ($110) to be re-tested in coming weeks," Stockton said in
an interview, noting that IeveI had been tested earIy Iast week and heId. The
probIem is that her indicators show that bIue chip U.S. stocks stiII couId have a
ways to go. "The market doesn't appear oversoId at this point, so the market
Iooks Iike it couId go Iower," Stockton said. Perhaps the most important IeveI for
SPY is the February 2010 Iow of $105 a share, roughIy 8% beIow current IeveIs.
"That IeveI hasn't been broken on a decisive basis yet," Stockton noted. "That's
the number we're reaIIy keeping a cIose eye on after what's taken pIace today."
MeanwhiIe, the tech-heavy Nasdaq's near-term backdrop Iooks just as voIatiIe,
notes Michael Ashbaugh in his TechnicaI Trader investment Ietter. With Thursday's
downturn, the benchmark has knifed straight through initiaI support at 2,493
pIacing it back within August-crash territory. In the near-term, the veteran
technician expects to see modest support at around 2,357 - its August cIosing
Iow. That's around 0.6% from where the index's trading at now.'



Stocks PIunge, GoId Surges on GIobaI Concern Aug 18th, 2011 14:30 by News
(BIoomberg) - 'Stocks pIunged whiIe Treasuries raIIied, pushing yieIds to record
Iows, amid growing signs the economy is sIowing and specuIation that European
banks Iack sufficient capitaI. Gold climbed to a record, whiIe oiI Ied commodities
Iower. The Standard & Poor's 500 Index tumbIed 4.5 percent to 1,140.74 at 4 p.m.
in New York. The Stoxx Europe 600 Index Iost 4.8 percent in its worst pIunge
since March 2009 and Germany's DAX Index sIid 5.8 percent, the most since 2008.
Ten-year Treasury yieIds feII as much as 19 basis points to 1.97 percent as rates
on simiIar-maturity Canadian and British debt aIso reached aII-time Iows. The
doIIar gained versus 15 of 16 major peers, strengthening 0.6 percent to $1.4336
per euro. GoId futures raIIied as much as 2.1 percent to $1,832 an ounce, whiIe oiI
sIid 5.9 percent.' European Shares FaII Most Since March 2009 Aug 18th, 2011
12:01 by News (CNBC) - 'European equities suffered their biggest daiIy faII in
two and a haIf years on Thursday, as a sIew of data cast further doubt on the
strength of the recovery in the worId's biggest economy. German shares Iost
most, with traders citing the effects of a short-seIIing ban on financiaI stocks in
other parts of Europe and intensifying worries about poIiticians' Iack of a pIan to
address the euro zone sovereign debt crisis. The European banking sector,
exposed to the euro zone debt crisis, feII 6.6 percent and is down 29.7 percent
this year.'




JobIess CIaims, InfIation Rise More Than Expected CNBC | New U.S. cIaims for
unempIoyment benefits rose more than expected Iast week. Chavez NationaIizes
VenezueIa's GoId Industry, RecaIIs Hundreds of Tons of GoId HeId Abroad, May
Cause a ScrambIe for PhysicaI GoId From JP Morgan and Others SEC
destroyed cruciaI probe data: senator AFP | The SEC may have destroyed
documents reIated to possibIe vioIations by major banks and hedge funds. WorId
stock markets pIunge as fears of recession intensify guardian.co.uk Don't
SwaIIow the FED's $16 TriIIion Suicide PiII MichaeI McKay | The FederaI Reserve
secretIy kept the Phony-Fiat-Money-System afIoat by "Iending" out $16 TriIIion.
GALLUP: Americans satisfied with 'the way things are going' - 11%! GaIIup |
Americans' satisfaction with the way things are going in the United States has
faIIen back to 11%.



Stocks: MutuaI Fund Investors Hate Them the Most Since Oct. 2008 at The Wall
Street Journal
Rick Perry on Ben Bernanke: Fed Chairman's Money Printing PoIicies Are
"AImost Treasonous"at Minyanville
The Loss of Momentum in the Markets AII Too Apparent Now Bob Chapman



VenezueIa PIans to Move Reserve Funds Aug 17th, 2011 10:35 by News August 17
(The WaII Street JournaI) -' VenezueIa pIans to transfer biIIions of doIIars in cash
reserves from abroad to banks in Russia, China and BraziI and tons of goId from
European banks to its centraI bank vauIts, according to documents reviewed
Tuesday by The WaII Street JournaI.The pIanned moves wouId incIude
transferring $6.3 biIIion in cash reserves, most of which VenezueIa now keeps in
banks such as the Bank for InternationaI SettIements in BaseI, SwitzerIand, and
BarcIays Bank in London to unnamed Russian, Chinese and BraziIian banks, one
document said.VenezueIa aIso pIans to move 211 tons of goId it keeps abroad
and vaIues at $11 biIIion to the vauIts of the VenezueIan CentraI Bank in Caracas
where the government keeps its remaining 154 tons of buIIion, the document
says. PG View: There have been pIenty of reasons to question President Chvez's
sanity in recent years, but seeking to Iessen VenezueIa's dependence on the
doIIar and removing assets, particuIarIy their goId, from Western banks is
actuaIIy pretty prudent. It wiII be interesting to see how forthcoming those
Western banks wiII be in faciIitating the repatriation of VenezueIa's goId.' Chavez
PIans on NationaIizing GoId Industry Fox Business | "I have here the Iaws
aIIowing the state to expIoit goId and aII reIated activities."


Putin sets sights on Eurasian economic union FinanciaI Times | Twenty years
after the Soviet Union coIIapsed, VIadimir Putin, the Russian prime minister, may
not, as is sometimes aIIeged, be trying to recreate it.


Putting The Cart On Top Of The Horse, Or Why Heaping FiscaI "StimuIus" Upon
"StimuIus" Is Suicide For America Zero Hedge | Feeding the government monster
is, contrary to what Krugman and other Keynesians wiII teII you, in the current
regime of coincident monetary irrigation, an exercise in futiIity.



MerkeI/Sarkozy press conference: No chance of eurobond anytime soon. No
expansion of ESFS. Move toward common governance. FinanciaI transaction
tax. Aug 16th, 2011 10:37 by News EUR raIIied then retreated. Germany adds to
eurozone's woes Aug 16th, 2011 10:13 by News August 16 (FinanciaI Times) -
German economic growth sIowed to a near standstiII in the second quarter of this
year, deaIing a further, unexpected bIow to the crisis-hit eurozone.The
surprisingIy-sharp deceIeration in activity in Europe's Iargest economy hit overaII
eurozone growth and intensified fears about the gIobaI sIowdown. It aIso
threatened to compIicate the chaIIenge facing the region's poIicymakers as they
seek to combat its escaIating debt crisis.


Stocks Slip On Concern Over Europe's Debt, U.S. Data
DeII braces investors for a bumpy road 16 Aug 2011 DeII makes a case on why it
can better weather an upcoming storm with more higher margin businesses...
S&P says sell Google's shares after Motorola deal
Ron PauI on Texas Straight TaIk: U.S. Government Debt Is Becoming WorthIess




How Low WiII Stocks Go? at Minyanville By MoneyShow.com Aug 12, 2011 'Up
500 points one day, down 500 the next. That's the way the market is these days.

On Wednesday, the Dow Jones IndustriaI Average pIummeted 520 points, erasing
aII of Tuesday's gains from the FederaI Reserve's decision to keep short-term
interest rates near zero. As of noon Thursday, it's up about 250.

By Wednesday's cIose, the Dow had Iost 2,000 points, or more than 15% of its
vaIue, since JuIy 21. The S&P 500 and Nasdaq Composite indexes Iost sIightIy
more during that time. AII three are periIousIy cIose to the 20% decIine from the
Iate ApriI-earIy May top that many pundits (particuIarIy in the media) use as a ruIe
of thumb to determine a bear market.

UnfortunateIy, I think stocks have stiII Iower to go. How Iow? Later in this coIumn
I'II teII you what some respected technicaI anaIysts think.

But Iet's start with the fundamentaIs.

First, the economy. Need I say more? JobIess figures were somewhat better in
June, but economists have revised downward their estimates of GDP growth.
Measures of consumer confidence are pretty weak.

And did anybody get the reaI message the FederaI Open Market Committee put
out Tuesday? The economy is so sick, the Fed is wiIIing to guarantee
exceptionaIIy Iow rates for two years! I've never seen the Fed teIegraph its moves
so far in advance, and the FOMC's statement said over and over again how Iousy
the economy is.

MeanwhiIe, the open rebeIIion by three voting FOMC members makes it highIy
unIikeIy we're going to see another round of quantitative easing anywhere near
as big as the Iast two.

Third, there's the debt crisis. Everyone agrees the European Union just doesn't
have the money to baiI out ItaIy and Spain, its third and fourth Iargest economies,
if it comes to that. Rumors are swirIing about the heaIth of French banks and the
safety of France's AAA rating.

And the debt-ceiIing standoff here, which cuIminated in S&P downgrading the
US's AAA credit rating, means more government action to "fix" the economy is
IikeIy off the tabIe.

So there's no way President Obama wiII get much additionaI stimuIus. He's
desperateIy trying to extend unempIoyment benefits and the payroII tax hoIiday
for another year, but that Iooks pretty iffy at best. (You can read more from me
about the "end of the weIfare state" on The Independent Agenda.)

FinaIIy, there are earnings, which have been great. But we're getting much Iater in
the cycIe, and their momentum appears to be sIowing. It's hard for me to see how
earnings growth aIone is going to power the market much higher when
everything eIse appears to be going in the opposite direction.

And whiIe vaIuations are Iooking attractive by some measures, they don't exist in
a vacuum, either.

So, where does that Ieave us? Four prominent technicaI anaIysts I contacted aII
agreed: Stocks are heading Iower, IikeIy into a new bear market.

David Sneddon, head of technicaI anaIysis research at Credit Suisse in London,
said the 1,370.58 intraday high in the S&P we saw on May 2 was the IikeIy top.
There's criticaI technicaI support around 1,100, which is just about from where
the market bounced back this week. So far, we seem to be hoIding that.

The next IeveI of technicaI support beIow that is at 1,020-1,022. "You'd have to get
beIow [1,000-1,010] to have a genuine bear market."

Another London-based technician, Sandy Jadeja of City Index, who watches the
Dow, thinks that's where we're going.

A few weeks ago, he predicted the Dow wouId drop to 10,428, which it did. Now,
he toId me by e-maiI, "the raIIy that foIIows wiII be brief, and then Iead to another
Ieg down to 9,673 and further."

"Lows are not to be expected untiI 2012," he concIuded. "Next month is criticaI. If
we break the Iow of August in September, there is worse to come."

Mark Arbeter, chief technicaI anaIyst of Standard & Poor's, said back in May and
June that the buII market was probabIy over, as I reported in this coIumn. He
hasn't changed his position.

By e-maiI, he said he "wouId Iook for some stabiIization and a potentiaI short-
term raIIy now that the S&P 500 has faIIen into a major zone of chart
support.between 1,023 and 1,128."

UItimateIy he thinks the S&P couId faII to 1,020, or maybe as Iow as 935. That
wouId be 15% beIow Wednesday's cIose, and wouId definiteIy mark a new bear
market.

MichaeI Kahn, who writes the Getting TechnicaI coIumn for Barrons.com and the
QuickTakes Pro bIog, has Iong argued we're in a secuIar (Iong-term) bear market,
and he thinks the cycIicaI buII is over, too. Like Arbeter, he sees 1,010 to 1,050 as
the next IeveI of support for the S&P, and beIow that 930.

"I think it stops at 930 to make the 2000s-2010s foIIow the 1970s very cIoseIy," he
wrote me by e-maiI. That's one decade for which investors have IittIe nostaIgia.

The technicians are unanimous that stocks are going Iower, though some are
Iooking for a strong raIIy that goes against the bearish trend. Arbeter doesn't
expect that raIIy to go much beyond 1,250-1,260 before it seIIs off again. Sneddon
doesn't think it'II bounce much higher than 1,200.

"We've cIearIy seen a Iot of technicaI damage done in a Iot of markets," he toId
me. "I wouId be personaIIy [incIined] rather to Iighten up and reduce my
positions" on raIIies.

That wouId be my position, too, if I hadn't aIready taken profits and soId what I
wanted to a coupIe of months ago.

If you missed that chance, I wouIdn't seII in panic now, but wouId wait for stocks
to mount a rebound to seII off positions in riskier smaII-cap stocks (which aIready
may be in a bear market) and emerging markets, whose time in the sun has come
and gone. That aIso may be a good time to permanentIy reduce your exposure to
equities.

But I certainIy wouIdn't buy into a market Iike this with aII its wicked swings and
uncertainties. Even mighty GoIdman Sachs (GS) Iost money on 15 trading days in
the second quarter! And John PauIson, the hedge-fund genius who
masterminded "the greatest trade ever" by shorting subprime mortgages, has
Iost 31% so far this year in his Iargest fund.

If peopIe Iike that who have the best information and technoIogy are Iosing
money in this market, do you reaIIy think you're going to beat them at their own
game?

There wiII be a time to buy again, but it's not now. This market is heading Iower.'


Editor's Note: This article was written by Howard R. Gold, editor at large for
MoneyShow.com.




Five Reasons for the Stock Market Crash and Zero Interest Rate 11 Aug 2011
Read more: Five Reasons for the Stock Market Crash and Zero Interest Rate
http://www.moneynews.com/StreetTaIk/Stock-Market-Interest-
Rate/2011/08/11/id/406976 Its said that the stock market cIimbs a waII of
worry. Because the stock market is trying to predict the future success or
faiIures of various companies, it sometimes gets things wrong. HorribIy, terribIy
wrong.

With the Dow Jones IndustriaI Average faIIing Iike a rock, with wiId swings not
seen since the stock market crash of 2008, many investors are on the verge of
panic. Its easy to see why. The FederaI Reserve is committed to keeping
interest rates near zero untiI mid-2013 at the earIiest. Those Iow interest rates
penaIize investors on a fixed income who dont want the risk of the stock
market.

PubIishers Note: In an excIusive interview presentation, Aftershock 2012,
Robert Wiedemer outIines a dire financiaI warning aIong with a comprehensive
bIueprint for economic survivaI. Over one miIIion Americans have seen the
evidence and Iearned how to weather the stock market, secure interest rates, and
save their financiaI future. Watch the video now.
But investors who understand the reasons behind the Iatest decIine in the stock
market have IittIe to fear. BeIow are five reasons why the stock market is crashing
right now:

1) Current Debt Crisis in Europe and the United States

Between record high bond rates in Greece, Spain, PortugaI and IreIand, the
eurozone has its hands fuII in deaIing with too much debt reIative to the size of its
various economies. As a resuIt of the poor bond performance from these
countries, Europe is on the cusp of pIunging into a banking crisis. Such a crisis
couId send interest rates soaring for "prime" countries Iike France and Germany,
not to mention throw the continent into a recession.

Across the AtIantic, the United States isn't faring much better. The recent debt
ceiIing drama concIuded at the 11th hour, with very IittIe in the way of true cuts.
Instead, the government has promised to cut future growth, which may or may
not even occur. No wonder S&P downgraded U.S. debt!

UItimateIy, it isn't risky assets Iike stocks that cause economic probIems. Markets
seII off when seemingIy safe assets are suddenIy recognized as significantIy
riskier than they were once perceived.

2) United States Government Is at an Impasse

As part of the recent debt ceiIing deaI, Congress approved the creation of a
bipartisan super-committee comprised of 12 members to fast-track IegisIation.
The constitutionaIity of such a committee is dubious at best, but it's just one way
for Washington Iawmakers to pass off responsibiIity and avoid tough decisions.

It doesn't end there. The FederaI Reserve has tried two rounds of "quantitative
easing," a scheme to buy up excess debt. The rationaIe was that it wouId get the
U.S. economy back on track. Instead, this pIan juiced the returns of the stock
market, and sent gas prices and grocery costs soaring.

MeanwhiIe, CongressionaI RepubIicans are caIIing for the ouster of Treasury
Secretary Tim Geithner as a consequence of the U.S. Iosing its S&P AAA credit
rating.

In other words, it's business as usuaI for the government: trying to fix a crisis
that's IargeIy the resuIt of its own poor oversight, whiIe avoiding any
responsibiIity for causing the probIem in the first pIace.

3) U.S. UnempIoyment Is Running Over 15%!

As Iong as the U.S. economy isn't creating enough new jobs, it wiII stagnate.
AIthough the unempIoyment rate has decIined from the doubIe-digit rates it hit in
2009/2010, many astute individuaIs have noted that the Iatest unempIoyment
report is inaccurate.

Using the measurement for unempIoyment used by the government up untiI the
earIy 1980s, true unempIoyment is running over 15%!

MeanwhiIe, many thrown out of work have exhausted their unempIoyment
benefits, which in some cases Iasted as Iong as 99 weeks. Once off
unempIoyment, they officiaIIy disappear from the officiaI unempIoyed Iist, making
the job market appear better than expected.

Adding miIIions of jobs wouId be the best economic stimuIus possibIe. It wouId
aIIow miIIions to Ioosen their beIts and spend more, which wouId be a huge boon
across the entire economy.

PubIisher's Note: Author and esteemed economist Bob Wiedemer accurateIy
predicted these events more than four years ago. Over one miIIion Americans
have seen the evidence and Iearned how to weather the stock market, secure
interest rates, and save their financiaI future. Watch the video now.

4) United States Has No Economic Growth

HistoricaIIy, the FederaI Reserve has cut interest rates to increase economic
growth. That's because Iower interest rates make it easier for individuaIs to
borrow money to buy cars, houses, start smaII businesses and the Iike. However,
there's been nearIy no growth since the United States pIunged into a recession in
2008. And the FederaI Reserve can't cut rates any Iower.

There's no doubt in the minds of many market participants that more Fed easing
poIicies are on the way, especiaIIy after America's first-quarter GDP was revised
from 1.9% to 0.4%.

The stock market's moves are highIy dependent on economic growth. If an
individuaI company can post huge growth numbers, its shares tend to go up, and
its shares tend to decIine when growth staIIs. When a country's GDP is stagnant,
investors don't know what to expect. Hence the recent stock market pIunge, as
economic data may suggest that another recession is upon us.

5) No Housing Recovery

The stock market crash of 2011 is starting to resembIe the stock market crash of
2008 in one key way: Bank stocks are Ieading the decIine. Since the start of
August, banks deemed "too big to faiI" Iike Citigroup and Bank of America have
soId off twice as hard as the overaII stock market.

It's easy to see why. Banks are sitting on miIIions of properties Iisted on their
baIance sheets at pre-housing crash prices. If aII these properties hit the market
at once, prices wouId have to faII substantiaIIy. If the banks have to seII them at a
Ioss, they'II take a hit to their baIance sheet at a time when they're stiII trying to
improve it.

A housing recovery can spur job growth for construction jobs, reaI estate agents,
and businesses in new communities. But we currentIy have a housing gIut that
wiII take severaI years to work through.

UntiI then, without a housing recovery, it'II be tough for the overaII economy to
recover. That means the stock market is in for a wiId ride and Iow interest rates
are here to stay.

WhiIe these five reasons aren't a comprehensive Iist of the probIems weighing
down the stock market and keeping interest rates paItry, they shouId give most
investors a reason to stay cautious over the next few months.

Based on the market's action and recent economic data, it's more IikeIy than not
we're entering a doubIe-dip recession. Stay heavy on safe investments and don't
give into the fear.

Read more: Five Reasons for the Stock Market Crash and Zero Interest Rate
Important: Can you afford to Retire? Shocking PoII ResuIts .'


Stocks Overbought AIready?at The Wall Street Journal

Are US Markets Facing the Abyss? [ Short answer: Worse! ] at Minyanville
Jeffrey Cooper Aug 15, 2011 '
"As soon as the idea of the DeIuge had subsided, a hare stopped in the
cIover and swaying fIowerbeIIs, and said a prayer to the rainbow, through
the spider's web.

Oh, the precious stones that began to hide, and the fIowers that aIready
Iooked around.

In the dirty main street, staIIs were set up and boats were hauIed toward
the sea, high tiered as in oId prints.

BIood fIowed at BIue Beard's -- though sIaughterhouses, in circuses, where
the windows were bIanched by God's seaI. BIood and miIk fIowed.

Beavers buiIt. "Mazagrans" smoked in the IittIe bars.

In the big gIass house, stiII dripping, chiIdren in mourning Iooked at the
marveIous pictures.

A door banged; and in the viIIage square the IittIe boy waved his arms,
understood by weather vanes and cocks on steepIes everywhere, in the
bursting shower.

Madame instaIIed a piano in the AIps. Mass and first communions were
ceIebrated at the hundred thousand aItars of the cathedraI.

Caravans set out. And HoteI SpIendid was buiIt in the chaos of ice and the
poIar night.

Ever after the moon heard jackaIs howIing across the deserts of thyme, and
ecIogues in wooden shoes growIing in the orchard. Then in the vioIet and
budding forest, Eucharis toId me it was spring.

Gush, pond -- foam, roII on the bridge and over the woods -- bIack paIIs and
organs, Iightning and thunder, rise and roII -- waters and sorrows rise and
Iaunch the FIoods again.

For since they have been dissipated -- oh, the precious stones being buried
and the opened fIowers -- it's unbearabIe. And the Queen, the Witch who
Iights her fire in the earthen pot wiII never teII us what she knows, and what
we do not know."

--Apres Le DeIuge, Arthur Rimbaud
"Yeah, keep your eyes on the road, your hands upon the wheel...
Let it roll, baby, roll."
-Roadhouse BIues (The Doors)

"Somebody hit her with a chair, you know. I guess there's no way to determine
who did it. It's already coagulating. She was just an innocent bystander. It's a
democracy."
-Jim Morrison

"There are things known and there are things unknown, and in between are the
doors of perception."
-AIdous HuxIey

"That men do not learn very much from the lessons of history is the most
important of all the lessons that History has to teach."
-AIdous HuxIey

"Ye shall know the truth, and the truth shall make you mad."
-AIdous HuxIey

The market went mad Iast week. The truth of capitaIism was in chaos, democracy
in disarray, and paraIyzed poIitics hit home. The truth hurts.

"And the Queen, the Witch who Iights her fire in the earthen pot wiII never teII us
what she knows, and what we do not know."

SeemingIy in unison, market participants' heads hit their piIIows Friday night with
a thousand points of night running Iike shards of broken confidence through their
minds.

The consumer confidence number hit the Iowest IeveI in a generation as the retaiI
therapy of conspicuous consumption threatens to hit the waII.

Anesthetized with Iies and sedated with stimuIus, is the consumer shopped out
and about to send a wake-up caII to Mr. Economy?

At the end of WorId War II, no power existed which couId compete with the US
miIitariIy or economicaIIy.

The US had saved the worId from the scourge of dictatorship.

In return, the Bretton-Woods Agreement in the Summer of 1944 aIso gave us the
monetary power to print the worId's currency. We promised it wouId aIways be
convertibIe into goId at the rate of $35 per ounce. This proviso was between the
worId's centraI banks and ours. It remained true untiI August 15, 1971 when
President Nixon voided the agreement because French President de GauIIe was
about to make a run on our goId, which he knew wasn't sufficient to back up aII of
the currency then fIoating around in the worId's centraI banks. De GauIIe was
about to precipitate a kind of run on the bank.

Son of a gun.

Is this a harmonic of the rumors that Dominique Strauss-Kahn -- former head of
the IMF who was about to run for the French presidency -- was set up in a hoteI in
New York because he was about to reveaI something about the goId that is or is
not in Fort Knox?

Ever since the Bretton Woods Agreement was broken 40 years ago today, the
doIIar has been wandering in a sort of financiaI BibIicaI desert, characterized by
the Iast decade of bubbIes and busts.

The monthIy S&P shows 3 persistent advances: a 5-year run into March 2000, a 4-
year run into JuIy 2007, and a 2-year run in May 2011.

The March 2000 top saw a break and a return raIIy/test faiIure into Iate August
2000. The JuIy 2007 top saw a break and a return raIIy that made a marginaI new
high test faiIure in October 2007. Both of these tests faiIures of the high came
roughIy 90 days/degrees Iater.

In 2011 an initiaI peak pIayed out on February 18th. A test faiIure pIayed out with a
marginaI new high roughIy 90 days/degrees Iater.

In "How Mid-September 2008 Ties To The JuIy 2010 Low And Today" from Iate
June, I waIked through the setup for a waterfaII decIine.

The March '03 Iow was 788 which is where the big advance to 2007 began. 2 x 788
gives the price of the S&P aII-time high in 2007.

From the March 6, 2009 Iow to the May 2, 2011 high is 787 days.

Time was 'up' this May, but the S&P didn't roII over untiI the anniversary of the
JuIy '07 high.

From August 1971 to August 2011 is 480 months. On the Square of 9 WheeI, 480
is square 90 degrees of August 24th.

August 24th is opposite this year's February 18th peak.

The end of the month aIso ties to the pre-crash high in 1987, the pre-crash high in
1929, and the return raIIy high in 2000.

The end of August vibrates off major crashes in history.

In addition, earIy September ties to the 120-month anniversary of 9/11 and the
1000 point DJIA bungee foIIowing that crash.

WiII an ABC retracement raIIy foIIowing our recent crash be abIe to satisfy my
projection earIy Iast week of a 1000 DJIA raIIy?

WiII the end of the month/earIy September mark a retracement high or a new
Iow?{PAGE_BREA}SurprisingIy, after vioIating the Bretton Woods agreement, the
worId kept on functioning as though the US doIIar was stiII as good as goId. The
onIy Iimit on our power to print money was the worId's wiIIingness to
continue toIerating our enormous abuse of this power. In effect, it gave us the
power to soak up the savings of others around the worId in order for us to
consume. It was a giddy time.

It was a giddy-up time for poIiticians intent on spending to buy votes and the
incestuous target they created for Iobbyists.

Americans then had a free ride in financiaI matters to take the Iabor of others and
use them to their benefit. We no Ionger had to produce. We couId just Iet others
do the producing and aII that we needed to do was print more money and pay
them off.

That iIIusion is ebbing.

TechnicaIIy, the market Iooks Iike it is creeping higher to finish off an ABC
upward correction from 1190 to 1225, which shouId see the market quickIy faII to
Iower Iows. The mid-point of equiIibrium between the 666 Iow and the 1371 high
equates to 1018. A decIine to 1018 couId be a test of the 1011 Iow in JuIy 2010.

1190 is the mid-point from the JuIy 2010 Iow to the May 2011 high.

1225 ties to Iast year's doubIe tops.

A fuII backtest of the big neckIine ties to 1250ish.

This week the market wiII tie to the chance for an Upside FoIIow Through Day -- a
day with a substantiaI gain on substantiaI voIume at Ieast 4 days after a Iow.

This week is aIso options expiration, so a possibIe C wave corrective raIIy couId
theoreticaIIy see the market hoId up into the end of the week.

However, without a big momentum day to hook the shorts, the market wiII drift
before another Ieg down targeting 1040ish to 940ish.

We have been Iooking for a bIow out Iow near mid-August based primariIy on the
cycIe from 1951.

The cIosing Iows for two sessions near 1121 aIigns with mid-August on the
Square of 9 WheeI. OnIy above 1260 does the market suggest something eIse
other than a new bear Ieg is pIaying out.

We don't want to short if a washout has occurred Iike in August 2007. As we
asked in a report Iast week, is this a bIow-out Iow or a mid-point for a move
Iower?

At the same time it's tricky to go Iong here between 1190 and 1225: the vast
majority of technicaIs indicate a new bear Ieg. WhiIe many stocks are improving
they have not repaired the damage.

A Iot of comparisons have been made between the current cascade in stocks and
2008. Memory is short on WaII Street, but not that short. It is possibIe that money
managers and robots aIike soId first and wiII ask questions Iater so as not to be
mangIed in a another train wreck.

But this is not Iike 2008 in the sense that the Crash in the FaII of 2008 was a
second Ieg down.

Modern markets haven't seen a drop off a peak or pivot high from Iate JuIy Iike
we just witnessed. It was worse that Iast year's FIash Crash in May 2010. It is
worse than the initiaI seII-off in Iate 2008.

Even on BIack Monday in 1987, stocks were decimated in virtuaIIy one day and it
was over. This one has been a RoIIer Coaster Crash.

WhiIe the market has echoed the FIying EIvis Pattern that instaIIed a Iow from
mid-JuIy 2010, it remains extremeIy risky as the sharpness and steepness of the
seIIoff Ieaves it/Ieft it primed for a refIex raIIy.

http://image.minyanviIIe.com/assets/FCK_Jan2011/Image/cooper/0811/15/ARCX_S
PY_D%20--%20SPDR%20S&P%20500%20TRUST.gif

At the same time, as offered in a chart in this space in Iate JuIy, the set up for a
waterfaII crash Iike 1929 was in pIace and that pattern may not have pIayed out
compIeteIy.

http://image.minyanviIIe.com/assets/FCK_Jan2011/Image/cooper/0811/15/DJIA%2
01929%20DaiIy.gif%20finaI.jpg

http://image.minyanviIIe.com/assets/FCK_Jan2011/Image/cooper/0811/15/ARCX_
GLD_D%20--%20SPDR%20GOLD%20SHARES.gif '

Rickards - US wiII revaIue goId to $7000 Aug 15th, 2011 15:10 by News August
15 (King WorId News) - ' He (Nixon) said first of aII I am imposing nationaI price
controIs because there was an infIation probIem in the United States at the time.
The second thing he said was I am putting a 10% surtax of imports on aII
imported goods coming into the United States. Then about 10 minutes into the
speech, very much en passant, he said, 'Oh by the way we are suspending the
convertibiIity of doIIars into goId' and he immediateIy went into this Nixonian rant
about specuIators. So it was very interesting, there were three earth-shaking
announcements. Can you imagine any one of those three things going on today?
President Obama or any President saying he was going to impose nationwide
price controIs, or aII Chinese goods wouId have a 10% surcharge. It wouId be
catacIysmic, yet Nixon did both of those things. PIus (Nixon) took us off the goId
standard, so it was quite a dramatic speech. In a strange way he did us aII a favor
by making sure we (the US) heId on to the goId. So I do think the United States is
in a position to revaIue the currency using goId to that $7,000 IeveI. That wiII
obviousIy be a huge benefit to aII of the peopIe who invested in goId because
they are going to be aIong for the ride, aIong with the United States when that
goId goes to $7,000." Excerpted from an interview that is avaiIabIe here. '


Fed Pledge Let's You Know The Fix Is In Forbes Peter Schiff ' Last week's wiId
actions on WaII Street shouId serve as a stark reminder that few investors have
any cIue as to what is reaIIy going on beneath the surface of America's troubIed
economy. It did bring startIing cIarity on at Ieast one front. In its August poIicy
statement the FederaI Reserve took the highIy unusuaI step of putting a specific
time frame for the continuation of its near zero interest rate poIicy.
Moving past the previousIy uncertain pronouncements that they wouId "keep
interest rates Iow for an extended period," the Fed now teIIs us that rates wiII not
budge from rock bottom for at Ieast two years. AIthough the markets raIIied on
the news (at Ieast for a few minutes) in reaIity the poIicy wiII infIict untoId harm on
the U.S. economy. The move was so dangerous and misguided that three
members of the Fed's Open Market Committee actuaIIy voted against it. This IeveI
of dissent within the Fed hasn't been seen for years.
Many economists have short-sightedIy concIuded that uItra Iow interest rates are
a sure fire way to spur economic growth. The easier and cheaper it is to borrow,
they argue, the more IikeIy business and consumers are to spend. And because
spending spurs growth, in their caIcuIation, Iow rates are aIways good. But, as is
typicaI, they have it backwards.
I beIieve that uItra-Iow interest rates are among the biggest impediments
currentIy preventing genuine economic growth in the US economy. By
committing to keep them near zero for the next two years, the Fed has actuaIIy
Iengthened the time Americans wiII now have to wait before a reaI recovery
begins. Low rates are the root cause of the misaIIocation of resources that define
the modern American economy. As a direct resuIt, Americans borrow, consume,
and specuIate too much, whiIe we save, produce, and invest too IittIe.
It may come as a shock to some, but just Iike everything eIse in a free market,
interest rate IeveIs are best determined by the freeIy interacting forces of suppIy
and demand. In the case of interest rates, the determinative factors shouId be the
suppIy of savings avaiIabIe to Iend and the demand for money by peopIe and
business who want to borrow. Many of the beneficiaI eIements of market
determined rates are expIained in my book How an Economy Grows and Why it
Crashes. But aIIowing the government to determine interest rates as a matter of
poIicy creates a number of distortions.
It was bad enough that the Fed heId rates far too Iow, but at Ieast a fig Ieaf of
uncertainty kept the most brazen specuIators in partiaI paraIysis. But by
specificaIIy teIegraphing poIicy, the Fed has now given cover to the most
parasitic eIements of the financiaI sector to undertake transactions that offer no
economic benefit to the nation. SpecificaIIy, it wiII simpIy encourage banks to
borrow money at zero percent from the Fed, and then use significant Ieverage to
buy Iow yieIding treasuries at 2 to 4 percent. The resuIt is a banker's dream:
guaranteed Iow risk profit. In other words it wiII encourage banks to Iend to the
government, which aIready borrows too much, and not Iend to private borrowers,
whose activity couId actuaIIy benefit the economy.
This reckIess poIicy, designed to faciIitate government spending and appease
WaII Street financiers, wiII continue to starve Main Street of the capitaI it needs to
make reaI productivity-enhancing investments. American investment capitaI wiII
continue to fIow abroad, denying IocaI business the means to expand and hire. It
aIso destroys interest rates paid to hoIders of bank savings deposits which
traditionaIIy had been a financiaI piIIar of retirees. In addition, such an infIationary
poIicy drives reaI wages Iower, robbing Americans of their purchasing power. The
consequence is a doIIar in free-faII, dragging down with it the standard of Iiving of
average Americans.
UntiI interest rates are aIIowed to rise to appropriate IeveIs, more resources wiII
be misaIIocated, additionaI jobs wiII be Iost, government spending and deficits
wiII continue to grow, the doIIar wiII keep faIIing, consumer prices wiII keep rising,
and the government wiII keep bIaming our probIems on externaI factors beyond
its controI. As the oId adage goes, "insanity is doing the same thing over and
over again and expecting different resuIts." '
Peter Schiff is CEO of Euro Pacific CapitaI.

ReIated Posts:
O ImmoIate The IMF
O Currency ManipuIation



Train Reading: The Stock Market Is Insane The Wall Street Journal
'The stock market has Iost its mind - Bethany McLean in SIate
Are US banks turning Japanese? - FT AIphaviIIe
How's that austerity working out for you, UK? - Econbrowser
Can Jeremy Grantham profit from ecoIogicaI mayhem? - NY Times Magazine
Authors and critics reveaI which Iit cIassics they consider overrated - SIate
It's not so easy appIying MoneybaII principIes to soccer - WSJ '


THE STOCK MARKET HAS LOST ITS MIND - Bethany McLean in SIate Risk On!
Do the Fed, computer trading, and a few hedge funds ruIe the market? That might
expIain why it's Iost its mind. After the madness of Iast week and the roIIercoaster
at the beginning of this week, the stock market recovered from its Aug. 10 rout to
bounce 423 points on Aug. 11. It was the fourth day in a row in which the index
moved by more than 400 points, which has never happened before in history. As I
write this, stock prices are IeveIing off, but the big swings may not be over. Has
the market gone mad? ActuaIIy, yes.
In theory, the stock market is supposed to refIect the prospects for the
economy-the earnings potentiaI of the stocks that make up the Dow Jones
IndustriaI Average. But there's more than one reason to beIieve that what's going
on now has IittIe to do with any rationaI view of the future, and a Iot to do with the
market itseIf. "Dip your toes into any risk asset right now and understand that
you are not entering into anything remoteIy resembIing a normaI market
environment," wrote David Rosenberg, the weII-respected former MerriII Lynch
anaIyst who is now the chief economist at Canadian firm GIuskin Sheff, in his
recent newsIetter. "DysfunctionaI is more Iike it."
The first factor to consider is that the huge rebound in stocks and in aII sorts of
risk assets from the spring of 2009 untiI May of this year wasn't necessariIy
driven by a beIief that better times were coming. It was driven by a beIief that
investors had to buy riskier assets given the Fed's determination to hoId interest
rates near zero. Because investors can't get a return in "safe" assets-indeed, a
smaII return wiII get chewed up by infIation-they are driven to riskier assets. As
more investors piIe in, everyone is driven further out aIong the risk curve.
This is what traders caII "risk on." What they mean is that you'II be rewarded for
buying risk, regardIess of reaIity. The Fed's second round of quantitative easing
("QE2"), in which it bought $600 biIIion of Treasuries in order to keep interest
rates Iow, encouraged this investment strategy. "We had a nice two-year raIIy in
risk assets and something cIose to an economic recovery, but as we had warned,
it was buiIt on sticks and straw, not bricks," wrote Rosenberg. "This isn't much
different than the financiaI engineering in the 2002-07 cycIe that gave off the
appearance of prosperity."
The Fed intended this to end happiIy. The fake weaIth created by a soaring
market was supposed to turn into reaI weaIth, because rich peopIe, who controI
much of the economy and who have much of their money in the market, were
supposed to spend more. But it hasn't worked, partIy because of probIems in the
rest of the worId-the tsunami in Japan, the financiaI crisis that's brewing in
Europe-and partIy because our own economy is too deep in hock to achieve the
necessary stimuIus. As Howard Marks, the chairman of Oaktree CapitaI
Management, put it in his recent Ietter, "The worId has awakened to the
undesirabiIity of ever-growing government debt."
You can think of the Fed's medicine as a painkiIIer. It aIIows everyone to pretend
that bad stuff isn't happening, untiI something shatters the iIIusion and the
comfortabIe numbness abruptIy gives way to panic. There's massive seIIing.
Then the Fed reassures everyone that its tooIbox isn't empty just yet-witness
the big upturn on Aug. 9 after the Fed said it wouId IikeIy hoId rates near zero
untiI mid-2013 (a worthIess prediction if infIation surges)-and the market soars.
Risk on!
It's hard to deveIop any reaI conviction about the direction of the market when so
much depends on the actions of the FederaI Reserve. That's especiaIIy true
because even the members of the FederaI Reserve Open Market Committee aren't
aII in agreement. Three members voted against the Fed's Aug. 9 announcement.
CompIicating matters is that the short term direction of the reaI economy is aIso
at the mercy of the government. The key Iine in this Wall Street Journal story: "As
goes government spending, so goes the U.S. economy."
Another possibIe factor in the madness is forced seIIing by big hedge funds.
There are rumors that funds are getting hit by margin caIIs, or that funds that are
having a bad year are getting redemption requests from investors, thereby
forcing them to seII. Most of the gossip has focused on John PauIson (the hedge
fund manager who famousIy made his fortune by shorting securities backed by
subprime mortgages), given the big positions he was known to have in stocks
that have gotten trashed. But if PauIson is hurting, he's probabIy not aIone. "No
way big guys couId have gotten out," one trader teIIs me via emaiI. "Big hedge
funds with aII the same big positions. This move down happened so fast that they
are trapped." If this theory is right, then sudden raIIies Iike Thursday's upturn wiII
be foIIowed by more seIIing, as hedge funds take advantage of the abiIity to get
out.
The Iast expIanation I've heard is that most of the buying and seIIing hasn't been
driven by reaI peopIe, but rather by computers. HeIIo, HAL 9000! In the Iast five
years, computer-driven trading, whether controversiaI high-frequency trading or
just programs that buy baskets of stocks based on technicaI figures, has become
a bigger and bigger part of the market. Depending on how you define it, sources
teII me it constitutes 70 percent to 90 percent of trading now. "The human
eIement is gone," one trader teIIs me. At Ieast some peopIe beIieve that the
presence of computers exacerbates the big moves up and down. According to
this paper by X. Frank Zhang, an associate professor of accounting at the YaIe
SchooI of Management, "high frequency trading is positiveIy correIated with
stock price voIatiIity." Zhang goes on to say that the "positive correIation is
stronger among the top 3,000 stocks in market capitaIization and among stocks
with high institutionaI hoIdings. The positive correIation is aIso stronger during
periods of high market uncertainty." Zhang's academic work is supported by the
observations of those who have been in the market for a Iong time. "I suspect that
the reaI cuIprits here are the computers WaII Street has programmed and
unIeashed to trade and manage portfoIios," wrote John BoIIinger, who has been
pubIishing his Capital Growth Letter for more than two decades. "The sort of
mindIess seIIing that we are seeing is most IikeIy the resuIt of machines trading
and human beings desperateIy trying to keep up with them."
ShouId you buy? ShouId you seII? No one knows. The worId is aIways an
uncertain pIace, but right now it's more uncertain than usuaI, whether about the
uItimate resoIution of Europe's crisis or about how the U.S. wiII reduce its debt
and get the economy growing again. Or perhaps I shouId say reduce its debt or
get the economy growing, since it's unIikeIy to achieve both at the same time.
This inabiIity to guess what the future hoIds means that madness ruIes.'

WithdrawaIs From Stock Funds Biggest Since '08 Aug 12th, 2011 15:32 by News
(BIoomberg) - Investors puIIed the most money from gIobaI stock funds since
2008 in the past week as the Standard & Poor's downgrade of Treasuries and the
deepening European debt crisis prompted a fIight into cash and goId. Funds that
buy gIobaI equities suffered $3.5 biIIion in net withdrawaIs in the week ended
Aug. 10, the most since the second week of October 2008, according to Cameron
Brandt, director of research at Cambridge, Massachusetts-based EPFR GIobaI.
Investors removed $11.7 biIIion from funds that invest in U.S. equities, the most
since May 2010 when investors puIIed money foIIowing a one-day market crash
that briefIy erased $862 biIIion."This week had a feeIing of capituIation as we saw
investors running for cover," Brandt said in a teIephone interview. "The Iast time
we saw this kind of fIight to safety" was in 2008, he said.'


U.S. Consumer Confidence Drops to Three-Decade Low Amid Economic
Headwinds Aug 12th, 2011 13:10 by News (BIoomberg) - 'Confidence among
U.S. consumers pIunged in August to the Iowest IeveI since May 1980, adding to
concern that weak empIoyment gains and voIatiIity in the stock market wiII
prompt househoIds to retrench.The Thomson Reuters/University of Michigan
preIiminary index of consumer sentiment sIumped to 54.9 from 63.7 the prior
month. The gauge was projected to decIine to 62, according to the median
forecast in a BIoomberg News survey.'





Pity the PoIicymakers JuIy 21st, 2011 by News by Mohamed A. EI-Erian (Project
Syndicate) - 'I don't know about you, but whenever I am in an airpIane
experiencing turbuIence, I draw comfort from the beIief that the piIots sitting
behind the cockpit's cIosed door know what to do. I wouId feeI very differentIy if,
through an open door, I observed piIots who were frustrated at the poor
responsiveness of the pIane's controIs, arguing about their next step, and getting
no heIp whatsoever from the operator's manuaIs. So it is unsettIing that
poIicymakers in many Western economies today resembIe the second group of
piIots. This perception refIects not onIy the contradictory pronouncements and
behavior of poIicymakers, but aIso the extent to which economic outcomes have
consistentIy faIIen short of their expectations.This perception is evident in
Europe, the United States, and Japan, where indicators of economic sentiment
are deteriorating again, aIready-weak recoveries are staIIing, and over-stretched
baIance sheets are becoming even more precarious.'



Greek finance minister brushes off downgrade [ Sounds Iike a pIan! ]



Is America The Next Greece? at Forbes Marc SchindIer 'After many years of
overeating (overspending) Greece is in the emergency room with a major
financiaI heart attack and America isn't far behind.
The doctors (IMF, European finance ministers, the ECB, etc.) are running around
trying to save it. Open heart surgery (Ioans guaranteed by others) has averted the
immediate crisis, but Greece is just as overweight today as it was before the
crisis. Attempts to Iose weight through exercise (austerity measures) cause
serious chest pains (riots). The doctors don't want to admit it, but aII signs point
to a heart transpIant (defauIt) as the onIy way to get Greece onto its feet again.
Greece isn't the onIy one. It is a veritabIe epidemic. IreIand, ItaIy, PortugaI, Spain
and a host of other countries are having chest pains. IceIand is feeIing better now
with its freshIy transpIanted heart. The American home owner is stiII in the
hospitaI from his financiaI heart attack after gobbIing up vast quantities of reaI
estate, and it has been many decades since UncIe Sam Iast couId see his toes.
By most accounts (e.g. here or BiII Gross' statements in a recent interview) totaI
hidden government IiabiIities add up to about $60-$100 triIIion. That is on top of
the $14 triIIion of debt carried on the baIance sheet. Adding up those IiabiIities,
the US owes at Ieast five times GDP, which currentIy sits at about $15 triIIion. For
comparison, Greece's debt is about 1.5 times its GDP.
This is not reaIIy a fair comparison, because it Ieaves out any hidden IiabiIities
Greece may have. The US debt figure incIudes unfunded entitIements, state and
IocaI debt, and underfunded pubIic pensions. NevertheIess, it is cIear that this is
an unsustainabIe debt Ioad even if the estimates turn out to be off by a factor of
two or four.
UncIe Sam is aIready more overweight than Greece ever was. If he doesn't
change his ways, he wiII end up in the hospitaI Iike Greece, but at present he is
partying Iike there is no tomorrow, gorging himseIf on entitIement spending,
costIy wars, baiIouts, subsidies, and countIess other deIicacies.
Perhaps it wouId not be such a bad thing if the taIks about raising the debt Iimit
faiIed. After UncIe Sam suffers the resuIting seIf-infIicted miId heart attack
(temporary defauIt) and finds out how much fun it is to fetch up in the emergency
room, he might be more incIined to take care of himseIf, sIim down, and stick with
an exercise regime.
Some kind of a wakeup caII is necessary whiIe there is stiII time to deaI with our
debt probIem. The onIy way to address it is for Washington to do its job: get
everybody to recognize that there is a probIem, find a soIution that demands
some sacrifices from everyone, and work together across party Iines to
impIement it. In the current poIiticaI environment that does not seem to be
possibIe. Something needs to change the environment. Greece shows that the
aIternative is not pretty.'


Corporate Earnings Soar Amidst a DismaI Job MarketWall St. Cheat Sheet [That
game's about to end! In fact, that game's over! Dave's DaiIy 'If you can keep
interest rates this low this long, its inevitable cheap financing can allow
companies to start cobbling each other up. Further en's policies allow
companies like IM to sell bonds at 1% and buy back shares with the proceeds
(total paper bubble-scam). POMO is occurring almost daily and Primary Dealers
can buy back their shares and pay dividends with what essentially is taxpayer
money-- ]


Standing on the precipice - and ready to jump JuIy 21st, 2011 News By WoIfgang
Mnchau ( FinanciaI Times) - 'It Iooks Iike there wiII be deaI on a eurozone
package for Greece. The fuII detaiIs are stiII missing, but it appears that the
eurozone is forcing Greece into a seIective defauIt. As part of such a package,
short-term Greek debt wiII be more or Iess forcibIy converted into Iong-term debt.
The wretched bank tax is mercifuIIy off the tabIe. And the European financiaI
stabiIity faciIity wiII most IikeIy be aIIowed to purchase Greek debt at a discount.
LET US NOT MINCE WORDS HERE. THIS WOULD BE A DEFAULT, THE FIRST BY
A WESTERN INDUSTRIALISED COUNTRY IN A GENERATION. I am not quite sure
how it is possibIe for the European CentraI Bank to agree to this, or to aII of this.
But I wiII sureIy be intrigued to hear how Jean-CIaude Trichet wiII manage to be
consistent with what he said a few days ago. There are aIso reports that the
eurozone Ieaders may accept a more fIexibIe EFSF beyond those bond
purchases.'



State Finances Are Worse Than You Think at Forbes



So Far, Market Ignoring Dire Warnings at Minyanville



The Greater Depression Is Upon Us by David Galland
http://www.IewrockweII.com/orig10/gaIIand34.1.htmI Casey Research Recently by
David Galland: The Road to Perdition 'The phrase "Greater Depression" was
coined by Doug Casey a decade or so back as a way of describing the economic
crisis he foresaw as inevitabIe, and which is now materiaIizing.
Because I think it is important for every organization to constantIy chaIIenge its
own assumptions, I've Iong acted as something of a deviI's advocate here at
Casey Research. By constantIy pushing our anaIysts to revisit their assumptions
and caIcuIations, it is my firm intention for us to spot the fork in the road that
indicates it is time to shift strategies away from investments designed to do weII
in the face of a currency debasement and to something eIse.
Being attentive to that fork in the road is hugeIy important, because even though
we urge our subscribers not to overdo their exposure to infIation hedges, we
recognize that many do. Many a good person had their cIocks cIeaned in the earIy
1980s soIeIy because they had become overIy enamored of their precious metaIs
- so much so that they stopped thinking of them as an asset cIass and began
thinking of them more in the terms one might associate with an amorous dinner
date. Thus these investors were utterIy unprepared when said date stood up and
broke a dinner pIate over their heads.
With that brief setup, I want to make our views cIear: WhiIe we correctIy
anticipated the recent correction in precious metaIs, this correction is but a bIip
in a secuIar buII market that is very much intact.
Doug Casey has often said that the unfoIding crisis is going to be even worse
than he expects (which is saying something), and the Ionger the rest of us at
Casey Research study the tea Ieaves, it is hard to disagree that the Greater
Depression is stiII ahead.
Consider:
O THE EUROZONE IS GROWING INCREASINGLY DESPERATE. Watching the
heads of Europe dither and debate over further baiIouts to the unhappy
Greeks and other troubIed PIIGS - before uItimateIy reaching back into the
pockets of the equaIIy unhappy citizens in Germany and the decreasing
number of stiII-functioning economies in the eurozone - reminds me of a
down-on-his-Iuck bIackjack pIayer. He's mortgaged his home to pIay the
game but is now down to his Iast chips. He doesn't want to risk his
remaining resources but has no choice, because to waIk away now wiII
mean taking up residence in a cardboard box. And so, reIuctantIy, he
shoves across another piIe. The probIem is that the game is rigged - and
not in his favor. As the PIIGS start to defauIt and either Ieave the eurozone
entireIy or are shunted off into some sort of sidecar organization, there wiII
be great voIatiIity in the euro and in the European markets.
O THE U.S. DET SITUATION IS FAR WORSE THAN ANYONE IN
WASHINGTON IS WILLING TO ADMIT. We keep hearing caIIs for more, not
Iess debt creation. But if peopIe wouId stop kidding themseIves and taIIy
up aII the many demands the U.S. government has against it, the actuaI
debt-to-GDP ratio rises to something on the order of 400% - and even that
is IikeIy understating things. The fundamentaI fIaws in the U.S. monetary
system - fIaws that have given Iicense to the bureaucrats to smash the
Iimousine of state straight into a waII - have required a remaking every 20
to 30 years or so. The probIem is that there is pretty much nothing eIse that
can be done to save the status quo at this point, and so the monetary
system is IikeIy to coIIapse. That means big changes ahead, incIuding - or
perhaps starting with - a poisonous ratcheting up of interest rates.
O CHINA'S MIRACLE MIRAGE. WhiIe having aspects of a free market, the
hard truth is that China is run as a command economy by a cadre of
communist hoIdovers. This is apparent in the cities that have been buiIt for
no purpose other than creating jobs and boosting GDP. It is aIso apparent
in the growing infIation in China - the inevitabIe knock-on of the
government's decision to yank on the Ievers of money creation harder than
any other nation at the onset of the Greater Depression. MeanwhiIe, signs
of sociaI unrest crop up here and there. Though so far they have been
swiftIy put down, there is no question that the ruIing eIite has to waIk a very
fine Iine. If the Chinese economy stumbIes seriousIy, aII bets are off. That
we are taIking about the worId's second-Iargest economy means this is not
of smaII consequence.
O JAPAN IS ESSENTIALLY OFFLINE. Reports from friends in Japan -
incIuding one who was initiaIIy skepticaI about the scaIe of the probIems at
Fukushima - have now changed in tone by 180 degrees. You can aImost
feeI the growing sense of desperation as the aIready massiveIy indebted
nation begins to sIide toward an abyss. There is IittIe standing in the way of
the worId's third-Iargest economy's sIide.
O THE MIDDLE EAST IS IN FLAMES. This, too, is far from settIed. As usuaI,
the U.S. government has been hopping here and there in an attempt to
maintain its infIuence, but at this point pretty much everything is up for
grabs. The odds of the U.S. retaining the same IeveI of infIuence in the
region that it has enjoyed over the Iast century are sIim to none, especiaIIy
now that even the Saudis are shipping more of their oiI to China than to the
U.S. Again, big changes are ahead.'



Watch Out: 2011 Looks A Lot Like The Market Top In 2007 at Forbes Sean HanIon
Back on December 12, 2007 I wrote a market commentary that started as foIIows:
The equity markets have been very volatile this year, but also range bound. A
picture speaks a thousand words so all one needs to do is view the chart below
of the S&P 500 Index to understand just how volatile and range bound things
have been. Specifically, since February 20, 2007, only nine and one half months
or so ago, the S&P 500 Index has been down 5.6%, up 13.02%, down 9.3%, up
11.26%, down 10.09%,
and now up 7.73% - through 12/10/07 - so far in this
latest up leg! All this in ONLY nine and one half months!
http://bIogs-images.forbes.com/advisor/fiIes/2011/07/market-commentary-1.jpg
History is repeating itseIf so far in 2011, which has been fraught with ups and
downs in both internationaI and domestic equity markets. This is due to many
things, incIuding the considerabIe economic doubts and various countries debt
situations. This uncertainty has transIated into market performance with direct
impacts on portfoIio returns and more prominentIy in portfoIio voIatiIity. This
voIatiIity is best seen in the chart beIow of the S&P 500 Index beginning 1/1/11.
http://bIogs-images.forbes.com/advisor/fiIes/2011/07/market-commentary-2.jpg
2010 ended positivity and the momentum carried into the first two months of 2011
however the end of February began a series of events that Ied market returns on
a whipsaw ride of ups and downs, resuIting in the current universaI mid-year
views of market uncertainty.
What news was associated with this voIatiIity? AII the usuaI; crude oiI prices,
naturaI disasters, corporate earnings, poIitics, economic forecast revisions for
both deveIoped and emerging markets, the European debt situation, the United
States debt situation and more to name just a few.
One thing is for certain; the current voIatiIe, range bound market activity is
difficuIt at best to profit from. In this investing environment patience is the most
important attribute. I wiII be patient and wiII be carefuI untiI the trends are
preferabIe.
Our strategy at HanIon Investment Management is to attempt to minimize
downside risk by exiting risk asset cIasses, such as equities, during periods of
uncertainty, getting invested in more conservative asset cIasses, such as money
markets and short-term bonds, and re-entering into risky asset cIasses when we
identify them as attractive, when the trend is our friend and positive!
Having identified this voIatiIity, in June we made defensive, tacticaI investment
decisions that provide Iess exposure to these voIatiIe, range bound markets and
prepare us to re-enter the markets when they possess improved risk
characteristics.'




Deficit CeiIing and Stocks - Expect the Unexpected ETFguide Simon Maierhofer,
JuIy 19, 2011, 'A number of cIiches come to mind when taIking about the U.S.
debt situation. The most appropriate might be: 'You can't have your cake and eat
it too.' The Ieast appIicabIe is probabIy: 'Never put off untiI tomorrow what you
can do today.'
But if you think the U.S. wiII defauIt on some of its obIigations anytime soon, you
don't have enough faith in the government's most potent weapon - extend and
pretend (another cIiche that's become the modus operandi).
Since 1960, Congress has acted 78 separate times to permanentIy raise,
temporariIy extend, or revise the definition of the debt Iimit. Chances are
Congress wiII act again before the August 2 deadIine. That however isn't good
news.
By the end of this articIe you wiII know the common sense, no nonsense, deficit
ramifications for the stock market and why even 'a deaI' isn't good news.
USA Inc. - Income Statement
If the United States was a corporation - USA Inc. - here's what the Income
Statement wouId Iook Iike:
TotaI federaI spending in 2010 amounted to $3.456 triIIion. TotaI receipts added
up to $2.162 triIIion. USA Inc.'s 2010 deficit was $1.294 triIIion.
The 2011 federaI budget is $3.7 triIIion with a projected deficit of$1.6 triIIion. But
there's no reason to despair, just before ApriI 15,CongressionaI Ieaders were abIe
to agree on $39 biIIion worth of budgetcuts for the remainder of the year.
Senate Majority Leader Harry Reid haiIed this heroic effort as a 'historic' IeveI of
cuts. To quantify just how 'historic' that effort was we'II put it in percentage terms
-1%. The cut amounted to onIy 1% of the 2011 budget. ApparentIy it wasn't
enough. Thanks to extend and pretend we've arrived at the next deadIine.
Stocks AppIaud ... and DecIine
Keep in mind that back in mid-ApriI when the 'historic' $39 biIIion cut was
hammered out, the S&P was at about 1,300. FoIIowing the 'resoIution' of the
budget probIem stocks raIIied about 5%.
The ApriI 3 ETF Profit Strategy NewsIetter featured the chart beIow (due to size
restrictions the chart had to be reduced). As per the chart and accompanying
anaIysis, the NewsIetter expected a raIIy to the next Fibonacci resistance at 1,369,
foIIowed by a bounce off the Fibonacci support at either 1,229 or 1,255 and an
attempt to take out the previous high.
http://www.etfguide.com//contributor/UserFiIes/8/Image/5%20-
%20ApriI%203%20TF.jpg
This outIook was based pureIy on technicaI anaIysis with no regard for the deficit
probIem or European debt woes (we'II take a Iook at an updated technicaI
forecast in a moment). The S&P did top at 1,370 on May 2. Thereafter it dropped
to 1,259, and tried to take out the previous high (the S&P raIIied as high as 1,356
on JuIy 7and stumbIed thereafter).
USA Inc. - BaIance Sheet
If you think the Income Statement Iooks bad, you may not want to Iook at the
BaIance Sheet. Consensus estimates for unfunded obIigations vary. Mary Meeker
pegs the shortfaII at $31 triIIion, PIMCO's BiII Gross estimates the unreported
debt to be $75 triIIion, whiIe other estimates exceed $100 triIIion.
The Deficit and Stocks
When President Obama took office in January 2009, the federaI debt was 70% of
GDP or $10 triIIion. Today the deficit is cIose to 100% of GDP at $14.3 triIIion. As
per a recent AP report, President Obama had to scroII down his demands and
wouId now be content with a $2.4 triIIion debt ceiIing increase to make it Iast
beyond the 2012 eIections.
No doubt, the President wouId Iike the deficit issue put on hoId untiI he's re-
eIected. It seems Iike everyone has an agenda that takes priority over soIving the
actuaI debt issue. The whoIe game couId be summed up as White House budget
director Jack Lew put it: 'That aII these ideas do is say Iet's kick the can down the
road so that others wiII deaI with it.'
This, by the way, is why the pre-eIection year of the PresidentiaI eIection year
cycIes has seen gains consistentIy since 1939, because the incumbent party wiII
do what it takes to remain in office Ionger.
A Iose-Iose Situation
The drawback of the deficit situation is that there is no easy way out. The
government has to either cut spending (as in fewer benefits for Americans) or
increase revenue (as in higher taxes).
Pick your poison. Either choice wiII kiII the economy. Of course, you can extend
and pretend, which is probabIy what wiII end up happening. No matter how much
Iip stick you have at your disposaI, a pig remains a pig. The deficit is a big (red)
pig.
What is worse, a $14.3 triIIion deficit today, or a $16+ triIIion deficit (according to
Obama's wish) in 2012? Debt is Iike gangrene, dry rot or moId, it doesn't just go
away, it gets worse (ask Greece, IreIand, PortugaI or any of the other PIIGS).
EIiminate VariabIes
Using European (NYSEArca: VGK - News) debt troubIes as a benchmark, there
hasn't been a direct correIation between U.S. stocks and European debt. To
generaIize this even further, there hasn't been a reaI correIation between the U.S.
deficit issue and U.S. stocks.
It was in June 2009 that Greece admitted to having a 'smaII' probIem. Stocks
raIIied throughout the remainder of 2009, most of 2010 and some in 2011. The
same is true for the MSCI EAFE ETF (NYSEArca: EFA - News) and Emerging
Market ETF (NYSEArca: EEM - News).
AdmittedIy, the U.S. is a much bigger probIem than the PIGGS, but the principaI
remains the same - basing investment decisions on the outcome of debt
negotiations is tricky because the market has a mind of its own.
Since earIy 2010, every singIe time the major indexes a Ia S&P (SNP: ^GSPC),
Dow (DJI: ^DJI), and Nasdaq (Nasdaq: ^IXIC) soId off more than a few percent, it's
been bIamed on Greece. What many don't consider is that the market was
heIpIessIy overbought in January, and ApriI 2010 and 2011 and due for a
correction anyway. It seems Iike Greece has been a scapegoat more often than
the actuaI cause. Perhaps it's a game of chicken and the egg. Which came first?
No Chicken-Egg Game
It has been more beneficiaI and profitabIe to reIy on soIid technicaI anaIysis
rather than pIaying the chicken and egg game.
TechnicaI anaIysis aIong with sentiment readings pegged a market bottom of the
same degree at S&P 1,259 - 1,245. That was the opinion of the ETF Profit Strategy
NewsIetter on June 15 (one day before the 1,258 bottom):
'The 200-day SMA at 1,257 is sandwiched between the 1,255 Fibonacci projection
IeveI dating back to 2002 and this week's s1 at 1,259. Wednesday's Iow was at
1,261.9. If this Iow is not enough, there is a strong cIuster of support at 1,259 -
1,245. A drop into the 1,259 - 1,245 range wouId prompt us to cIose out short
positions and Ieg into Iong positions' (Iong positions were cIosed out at S&P
1,345 on JuIy 7).
There was no fundamentaI good news on June 15 or 16. Some of the headIines
featured on June 15 were:
'Is the buII market over? A Iook at four different sentiment measures suggests
that more pain may await investors.' - Barrons
'Greek defauIt couId trigger chain reaction' - AP
'Confidence is eroding among U.S. factories, consumers' - BIoomberg .'



Fed Keeping Market AfIoat: QE RaIIy Not SustainabIe
http://regator.com/p/252365030/fed_keeping_market_afIoat_qe_raIIy_not_sustaina
bIe By Matthew CIaassen


FinanciaI Crisis Phase II Is Ahead at Forbes Bert Dohmen ' In Iate 2007, I wrote
the book Prelude To Meltdown, predicting the gIobaI crisis that occurred the
foIIowing year. I now see a simiIar confIuence of events that warns of phase II of
the gIobaI crisis.
Once again I see aII the "canaries in the mine," which warned of the 2008 crisis.
My just reIeased book, Financial Apocalypse , provides the cIues and the road
map, with charts, of how my indicators successfuIIy predicted the meItdown that
occurred in the faII of 2008. This book is a guide for detecting the next crisis
whenever it occurs. History repeats, or at minimum, it rhymes.
My work shows that "the new recession has started." The May 9 issue of the
Wellington Letter was headIined: "Return of the DoubIe-Dip." At the time,
economists were Iooking for a great economy in the second haIf. Now they taIk
about a "soft patch." Over the past 33 years, we have caIIed the start of every
recession, often on the exact month, or within one month, of the officiaI start as
determined one year Iater by the officiaI arbiter of recession, the NationaI Bureau
of Economic Research (NBER).
How can we be in recession now when the GDP stiII shows growth? Because of
improper infIation adjustments. "ReaI" GDP growth, the headIine number, is
nominaI growth minus the rate of infIation. However, infIation is far understated
for poIiticaI reasons.
CurrentIy, the GDP defIator is 1.8%, which hardIy refIects the true rise in prices.
Therefore, what is counted as "growth," is actuaIIy price increases. ActuaI
infIation, according to free market economists who caIcuIate infIation as it was
done in 1980 before the poIitician re-engineered it, is now more than 11%. Using
that to adjust GDP for infIation, wouId show that the economy is now in a very
sharp contraction.
When the current euphoric earnings forecasts of WaII Street finaIIy refIect that via
significant "earnings downgrades," the stock market wiII see a serious
"adjustment" as weII.
On JuIy 18, GoIdman Sachs (GS) substantiaIIy Iowered its economic growth
forecast. Marketwatch.com had this headIine: Goldman Sachs slashes Economic
Forecasts. The next step wiII be for them to substantiaIIy reduce earnings
forecasts for the S&P 500.
WiII the phase II be as bad as the 2008 crisis? The Iast crisis was confined to the
private sector, i.e. financiaI institutions. The next one wiII be invoIve the
threatened defauIt of entire countries. The Iast time, the centraI banks baiIed out
the financiaI firms and even Warren Buffett baiIed out severaI firms. Who is big
enough to baiI out entire countries? Or wiII the term of "too big to faiI" turn to
"too big to baiI?"
ert Dohmen is editor of the Wellington Letter and author of Financial
Apocalypse.'


RetaiI SaIes: The "ReaI" Consumer Remains in a Recession Doug Short Read
more: http://www.businessinsider.com/author/doug-short#ixzz1TAkuAIOK




3 Top Crooks StiII Roaming Free After the Economic Crash Wall St. Cheat
Sheet JuIy 25, 2011, The gIobaI economy and stock markets took a nose dive in
2008. But that hasn't stopped some of the biggest masterminds from escaping a
day of Iuxury.
Here are three financiaI crooks who are probabIy sipping daiquiris in Capri at our
expense:
Lehman Brothers CEO Richard S. FuId, Jr.
Few executives were as intimateIy and extensiveIy invoIved in the downfaII of
their firms as Dick FuId . At the time of the financiaI coIIapse, FuId had worked for
Lehman Brothers for nearIy 40 years, and had been the firm's chief executive
since 1994. In that roIe, not onIy was he the Iongest-tenured CEO on WaII Street at
the time of the financiaI crisis, but he was considered one of the best. He was
named Institutional Investor magazine's top chief executive in the private sector
in 2006. The foIIowing year, he was paid more than $21 miIIion in cash and stock
on top of his base saIary of $750,000 a year after the bank's net profit rose 5% to
a record $4.2 biIIion. And as recentIy as March 2008, Barron's Iisted him on their
Iist of the 30 best CEOs, referring to him as "Mr. WaII Street".
When the financiaI crisis hit, FuId was one of the few executives to hoId onto his
position. He counted himseIf responsibIe for the company, but didn't reaIize just
how much reaI estate Ioans and other toxic assets were weighing on his baIance
sheet. Instead, he remained confident in the firm that he heIped grow from a
negative profit in 1993. His hubris can somewhat be understood, given the firm
hadn't reported a singIe quarterIy Ioss since it went pubIic. But FuId was wrong.
He overestimated the vaIue of his firm, rejecting offers that couId have saved it
from coIIapse because they didn't adequateIy refIect what he feIt the firm was
worth.
We know that sub-prime mortgages were aImost soIeIy responsibIe for the
financiaI crisis, and a Iarge part of the WaII Street's fourth-Iargest investment
bank's worth was heId in its mortgage business, where mortgages were re-
packaged and soId to other investors, often for more than they were reaIIy worth.
In fact, Lehman was the top U.S. underwriter of mortgage bonds in 2006 and 2007,
accounting for roughIy 10% of the market. As CEO, FuId was responsibIe for
buying those assets, which uItimateIy became toxic and impossibIe to unIoad.
But whether or not FuId can be heId whoIIy responsibIe for the firm's Ioan
practices, he can be heId responsibIe for the firm's bankruptcy. As Iate as August
2008, after many CEOs had aIready been forced to resign, he rejected an offer by
state-run Korea DeveIopment Bank to buy a 25% stake in Lehman for $4 biIIion to
$6 biIIion.
There's no question that the firm FuId heIped buiId, that he'd been a part of since
1969, where he heId the top position for 14 years, was criminaIIy responsibIe for
the financiaI crisis. In fact, it may be the most cuIpabIe, given the sheer voIume of
sub-prime mortgages underwritten by Lehman in the years Ieading up to the
market coIIapse. On September 15, Lehman became the Iargest firm to fiIe for
bankruptcy in history, deaIing a devastating bIow to an aIready fragiIe financiaI
system. A few weeks Iater, FuId was summoned to appear before Congress as
part of an inquisition. He was aIso investigated by three United States Attorneys
offices in New York and New Jersey. But uItimateIy FuId waIked away from
Lehman Brothers having pocketed nearIy $500 miIIion just in his Iast six years
with the firm, years during which Lehman's sub-prime mortgage practice was
contributing to what wouId uItimateIy cost taxpayers $700 biIIion in a
government-issued bank baiIout program. FuId was never charged with or
convicted of any crimes.
AIG FinanciaI Products CEO Joseph J. Cassano
As a founding member and head of AIG FinanciaI Products, Joe Cassano was
responsibIe for seIIing hundreds of biIIions of doIIars worth of credit protection in
the form of credit-defauIt swaps (CDS) on U.S. sub-prime mortgages, a form of
insurance that didn't require that AIG put down any form of coIIateraI. So when
the financiaI crisis hit in 2008 and investment banks requested the insurance
money for their coIIapsing derivatives, AIG was unabIe to pay what was owed and
uItimateIy had to be baiIed out by the government, receiving about $170 biIIion in
taxpayer money.
Cassano resigned from his position at AIG FP in March 2008, having pocketed
$280 miIIion in cash and an additionaI $34 in bonuses. He even managed a $1
miIIion-a-month retirement package that kept him on at AIG as a "consuItant".
Cassano even went on record denying any fauIt on the part of AIG, saying,
"We beIieved untiI Iate 2005 that banks and other mortgage originators were
appIying appropriate standards when writing mortgages. When we recognized -
weII before many others - that changes in the mortgage market IikeIy presented
increased risk for future deaIs, we decided to exit the subprime business. We
thought the decision was appropriate, despite the Iost profits at the time. With
hindsight, the decision Iooks even more prudent."
Cassano went so far as to bIame the baiIout for Iosses on CDS contracts, saying
there wouId have been few, if any, had they not been unwound by the baiIout.
Testifying before the FinanciaI Crisis Inquiry Commission, Cassano fuIIy
defended his firm's CDS practices, outIining the carefuI approvaI and monitoring
system that, "specificaIIy identified risk factors and provided an anaIysis of those
risks." Cassano insisted that AIG had not miscaIcuIated the risks of sub-prime
mortgages.
However, Cassano was directIy responsibIe for AIG's credit-defauIt swaps
program that put the firm's many cIients, incIuding GoIdman Sachs, in danger
when it was unabIe to pay out on insurance cIaims. He essentiaIIy soId biIIions of
doIIars worth of vapor - he faiIed to provide what had been paid for by the firm's
cIients. That sounds remarkabIy Iike fraud, the grounds upon which many
investors have fiIed suit against Cassano. In fact, reguIators in both the U.S. and
the U.K. investigated Cassano's acts to determine whether they had been
criminaI. But Iike just about every executive responsibIe for the financiaI crisis,
Cassano was not uItimateIy charged with any wrongdoing, and remains a free
man.
Countrywide FinanciaI Chairman and CEO AngeIo MoziIo
Ranked second by Cond Nast Portfolio on their Iist of the "Worst American
CEOs of AII Time", AngeIo MoziIo was charged in 2009 of insider trading and
securities fraud by the U.S. Securities and Exchange Commission. MoziIo
personaIIy soId hundreds of miIIions of doIIars in stock whiIe using sharehoIder
funds to buy back stock to support the share price. He is aIso responsibIe for
what has been termed the "Friends of AngeIo" VIP program under which severaI
infIuentiaI Iawmakers, incIuding Senate Banking Committee Chairman
Christopher Dodd, as weII as many Fannie Mae empIoyees and other "Friends of
AngeIo", received discounted mortgages.
However, MoziIo was aIIowed to settIe with the SEC on aII charges. He agreed to
pay $67.5 miIIion in fines, the most ever exacted from an individuaI in connection
with the 2008 financiaI crisis, and he was banned from ever serving as an officer
or director of any other pubIic company. Robert Khuzami, director of the SEC's
Division of Enforcement, said that "MoziIo's record penaIty is the fitting outcome
for a corporate executive who deIiberateIy disregarded his duties to investors by
conceaIing what he saw from inside the executive suite." But in settIing, MoziIo
was abIe to avoid a triaI and any subsequent criminaI charges, and was not
required to acknowIedge any wrongdoing.
MoziIo's net worth has been estimated at roughIy $600 miIIion. And because of
the indemnification agreement in his contract with Countrywide, the firm was
responsibIe for paying roughIy one-third of his fines, Ieaving MoziIo with a biII of
$47.5 miIIion - that's Iess than 10% of his worth. Aside from Bernie Madoff, the
onIy executive tied to the financiaI crisis to be criminaIIy prosecuted and
convicted, MoziIo's settIement is the greatest punishment infIicted on any
executive responsibIe for the country's economic coIIapse, and faIIs desperateIy
short of true justice.'



Debt, Deficits and the Demise of the American Economy' - Author Peter Tanous
Discusses Risk



US Equities Forecast and the Anticipated Path of the Market at Minyanville Peter
Prudden JuIy 25, 2011 '. the headIine risk remains to the downside and the
bogey to Iower equity prices in the short to intermediate term is concentrated on
the U.S. Debt ceiIing. At some point, not onIy must aII deveIoped economies deaI
with marking down to the IeveI of income, but we must restructure Iarge amounts
of excess Ieverage. UntiI we accompIish this, growth wiII be probIematic.'



Putin says U.S. is "parasite" on global economy [Unfortunately, this is very true.
More unfortunately is the fact that most worldwide don't realize that fact! I mean,
think about it: pervasively corrupt, defacto bankrupt america's cancerous perma
wars, over-printed debased 'Weimar' paper 'reserve' currency, huge frauds in
securities and otherwise, etc.. ]



3 Reasons Why This Summer Could Get Ugly Simon Maierhofer, JuIy 29, 2011 [
WeII, before getting to the articIe, we aII know why: because . 'SeII in May, and
go away!' . Quite simpIe, as previousIy set forth here and eIsewhere, you shouId
have 'soId in May, and went away!' Why? Because . as Rosanne Rosanna Danna
formerIy of SNL fame and as her mama aIways used to say, 'it's aIways
somethin'' . but unfortunateIy, that somethin' is not necessariIy what they say it
is. ] 'It seems Iike the European Union and U.S. government are stuck in a never
ending game of Whac-A-MoIe. It seems Iike more moIes are popping up more
quickIy, needing more force to be subdued (ironicaIIy the moIes come back just
as the probIems do).'





Mapping the Myths of the U.S. Economy - Stacy Curtin 'In The Real State of
America Atlas: Mapping the Myths and Truths of the United States, authors
Cynthia EnIoe and Joni Seager paint a vivid picture of Iife in the U.S., using a
series of charts, graphics and short essays that cover aImost every aspect of the
nation's economy and society as a whoIe.
Not onIy do they give state-by-state comparisons, they show how the U.S.
measures up to the rest of the worId in areas such as heaIth care, housing and
defense. But whiIe anaIyzing what it's reaIIy Iike to Iive in the U.S. today, they aIso
uncovered a few "myths and truths" as the titIe of the book suggests.
EnIoe and Seager joined The DaiIy Ticker's Aaron Task to share three of the most
surprising misconceptions they uncovered.
#1 Land of Homeowners
The dream of owning a home is actuaIIy more the reaIity in other countries. In the
book, the authors point to the most recent data, which show onIy 68% of
Americans owned their home in 2002, compared with 92% in Hungry, 84% in
Mexico, 72% in the U.K. and 71% in AustraIia.
"One of the things that is a cherished notion about America is we are a nation of
homeowners, and homeownership has Iong been seen as kind of the bedrock of
the American dream," says Seager. "I think the current economic crisis and the
housing crisis is reaIIy shaking that American cherished view of ourseIves as
having easy access to homeownership."
This is evident in another stat Iaid out in the book, which shows 83% of peopIe
agreed that buying a home was a safe investment in 2003, compared with 70% in
2010. (See: Why I Am Never Going to Own a Home Again) { Home ownership hits
lowest level since 1965 NEW YORK (CNNMoney) Les Christie August 5, 2011 As
the forecIosure crisis continues to wreak havoc on the housing market, a source
of nationaI pride has taken a sour turn. Home ownership is on the decIine and,
according to a recent Morgan StanIey report.' }
#2 Land of Opportunity
Just Iike the ideaI of owning a home, opportunity in this country is now aIso on
the brink.
"Opportunity in this country means a chance for an education . [and] a chance
for a decent job that aIIows you to have a decent Iife," says EnIoe, who points to
two key factors that hinder peopIe making it here in America.
O The cost of a coIIege education continues to rise year after year.
O The unempIoyment rate remains high at 9.2%, but it doesn't factor in the
miIIions of "underempIoyed" workers -- those who are currentIy working
part-time but wouId Iike fuII-time work -- and discouraged workers who
have tired of Iooking for a job and have just dropped out of the job market.
#3 Land of Givers
WhiIe the U.S. does give more money in foreign aid than any other country in the
worId, as a percentage of GDP it faIIs way behind many other nations.
Whereas Sweden gives aImost 1% of its GDP in 2008, the U.S. gave 0.19%.
"I think it reaIIy shouId shake Americans' seIf-perception of two things," says
EnIoe. "[One] is cutting foreign aid actuaIIy the ticket to baIancing the budget, but
aIso how do we shape up compared to other countries' generosity?" '



Debt DeaI Is A BIank Check at Forbes


U.S. Economic Pessimism Grows - Stacy Curtin 'WhiIe Democrats and
RepubIicans were arguing over how to prevent the U.S. from a defauIt, famiIies
across the country have become increasingIy concerned about the overaII state
of the economy, according to the American Enterprise Institute's Iatest
compiIation of recent poIIs taken in various regions.
Friday's worse than expected GDP numbers onIy reaffirm this notion. The U.S.
economy grew Iess than expected in the second quarter at 1.3%, but the bigger
shock came after Q1 GDP was revised down to 0.4% from 1.9%. These numbers
suggest the country couId be headed for another recession and Americans are
definiteIy feeIing the pain. (See: 2011 Is Proving to Be a HorribIe Year For the
Economy)
One of the most disconcerting findings in the AEI report is a CBS/New York
Times poII from June. It showed that over the Iast year, more Americans have
come to beIieve the current economic downturn is part of a Iong-term permanent
decIine and that the economy wiII never fuIIy recover. In October 2010, 28% of
respondents agreed with that statement, versus 39% Iast month.
"Americans are so pessimistic about the economy now ... . And the IeveI of pubIic
pessimism is actuaIIy higher than the deep 1981-82 recession overaII," due to
grim personaI outIooks on a number of issues Iike jobs, retirement and heaIth
care, says KarIyn Bowman, a senior feIIow at AEI who co-authored the report.
"Their negative sentiments are affecting the way they feeI about their famiIy's
future, and interestingIy, the way they feeI about their state governments. UsuaIIy
negative attitudes about the nationaI government don't seep into attitudes about
the state government, but this time it is reaIIy different. This negative, gIoomy
mood is pervasive.
Speaker of the House John Boehner echoed these concerns Thursday before one
of the many faiIed House votes to raise the country's debt ceiIing. "This is a
chaIIenging time for our country," he said. "Americans are worried about their
jobs. They're worried about our economy. And they're worried about our debt."
Since the poIIs in the report were conducted before the debt-ceiIing debate reaIIy
began heating up over the Iast few weeks, one might concIude that if the same
questions were asked today the responses wouId be even more pessimistic.
Here are other key findings from the AEI report:
Job anxiety: In the past six months, about 5% of Americans surveyed had Iost
their job, two in 10 said a famiIy member had Iost a job, and six in 10 knew
someone who Iost a job.
In June 2011, 58 percent were very or somewhat worried they couId Iose a job in
the next 12 months. NearIy eight in 10 say jobs are difficuIt to find where they Iive.
Around a quarter are worried about benefit or pay cuts.
Cutting back: Americans are cutting back on everything from heaIth care to
haircuts. Fewer than four in 10 say their personaI financiaI situation is in exceIIent
or good shape right now. AImost as many peopIe say they are faIIing behind as
beIieve they are getting ahead, but the vast majority describe their financiaI
situation as having just enough money to maintain their standard of Iiving.
InfIation worries are high and steady.
Retirement: There's been a dramatic drop in the number of Americans who say
they have enough money to retire. In 2002, around six in 10 beIieved they wouId
have enough money. In the Iatest survey by GaIIup in ApriI, onIy about four in 10
say they wiII.'


10 Reasons We Are Heading for a Recession


USAGOLD RoundTabIe: Debt CeiIing "ResoIution" - EU Sovereign Debt Crisis
Aug 3rd, 2011 15:53 by News We're pleased to present our latest RoundTable
video discussion with our staff experts George Cooper, Peter Grant and Jonathan
Kosares {Immediate access here} Excerpt: Now that the debt ceiIing debate is
over, and the dust is settIing, the market is beginning to get a picture of what, if
anything, was accompIished, and can be expected moving forward. The $2 triIIion
in cuts over ten years amounts to a smaII dent in our annuaI deficit, suggesting
that the U.S. wiII continue to increase its debt to GDP ratio over the coming
decade. The cuts suggested wiII mereIy sIow, not reverse, this trend. In the end,
this debt deaI is nothing more than a giant kick of the can down the road, and a
short road at that. The hike to the debt ceiIing Iooks to onIy buy about six
months, so this issue is set to be revisited next year. The market has digested
this "resoIution" as such, and goId has responded sharpIy higher, rising $60 in
two days. The DOW meanwhiIe has come under significant pressure, shedding
over 800 points in a week. Things across the pond are not Iooking any better. The
credit faciIity set up by the ECB is insufficient at best, and contagion remains an
enormous risk. Spreads on sovereign debt in ItaIy, Spain, Greece, PortugaI and
IreIand are at or near aII time highs. As taIks of dramaticaIIy expanding the credit
faciIity heat up, we're Ieft to wonder if its even possibIe for Europe to "go big
enough" to caIm market jitters. With Peter Grant, George Cooper, and Jonathan
Kosares. (24 min) The DaiIy Market Report Aug 1st, 2011 12:01 by PG ReIief?
What ReIief? http://www.usagoId.com/cpmforum Late Iast night when party
Ieaders and the President announced that they had reached a bipartisan deaI that
wouId aIIow the debt ceiIing to be raised, goId dropped about 1%. GIobaI stocks
raIIied in reIief and briefIy, ever so briefIy, goId was out of favor. However, as the
detaiIs were reveaIed, doubts were reignited: Doubts as to whether such
IegisIation couId actuaIIy make it to the President's desk. Doubts that the deaI
wouId avert a downgrade of US sovereign debt.WhiIe the CBO scores the
package as accompIishing $2.1 triIIion in spending cuts over the next 10-years,
the CBO baseIine aIso has the deficit rising $6.7 triIIion over the same period. The
premise apparentIy being that we're working our way to actuaI cutting by cutting
to sIow the pace of the nation's proIiferate spending. In actuaIity - and as
evidenced beIow - that CBO baseIine may prove to be way too optimistic.What
reaIIy Iit an intraday fire under goId today was the big miss on US JuIy ISM, which
pIunged to 50.9. The market was expecting a modest downtick to 55.0 from 55.3 in
June. On the heaIs of Iast week's much weaker than expected quarterIy GDP data,
it has become abundantIy apparent that the US economy has sIowed to just
above staII-speed. David Rosenberg, chief economist at GIuskin Sheff and
Associates, noted Iast week that once the economy sIows to a growth rate of
1.6% it has proven historicaIIy to be a "point of no return" and recession foIIows.
With Q1 downgraded to just 0.36% and Q2 an anemic 1.3% - and IikeIy subject to
future negative revision as weII - the writing may weII be on the waII.The debt
deaI is a short-term kick of the can that at Ieast initiaIIy focuses on spending cuts.
However, with no mitigation of the uncertainties that have kept private capitaI
sideIined for the past two-years of the so-caIIed recovery, there is IittIe reason to
think that a more robust economy is just around the corner. In fact, the opposite
may be true. That reaIization, tipped in by the ISM data, has further escaIated the
QE3 taIk, which prompted goId to retest the record high set Friday at 1632.39.
ReIief? What reIief?If we get another negative surprise on Friday when JuIy
nonfarm payroIIs comes out, as the ISM empIoyment index suggests we might,
the QE3 taIk wiII intensify ever more in the weeks ahead of the Fed's Jackson
HoIe summit. Consensus on JuIy payroIIs are running around +100k, aIthough we
couId see some tempering of those expectations in Iight of the ISM data.Even
with the announcement of the debt ceiIing deaI, the doIIar remains on the ropes,
faIIing to new record Iows against the Swiss franc and the yen. If this deaI makes
it through both Houses of Congress and is signed by the President, it is just
another kick of the can - and a very short one at that - down the road. And with
the specter of yet another round of quantitative easing hanging over the market,
there is IittIe incentive to buy doIIars. Now the BoJ is once again contempIating
direct intervention in the market, as I suspect the SNB is. If there are concerted
efforts to sIow the rise of these currencies, it may make goId an even more
aIIuring option.'


S&P downgrades US credit rating from AAA The United States has Iost its
sterIing credit rating from Standard & Poor's.


U.S. tripIe-A debt rating cut by Standard & Poor's Aug 5, 2011 The United States
Iate Friday Iost its tripIe-A debt rating from Standard & Poor's for the first tie ...


Text of S&P downgrade of U.S. rating 06 Aug 2011 The foIIowing is the text of
Standard & Poor's downgrade of the United States. ...



S&P Shocks the U.S. with Credit Downgrade to AA+ from Prestigious AAA Rating
Wall St. Cheat Sheet August 5, 2011,
'Standard & Poor's is out with an officiaI downgrade of the U.S. credit rating:
We have Iowered our Iong-term sovereign credit rating on the United States of
America to 'AA+' from 'AAA' and affirmed the 'A-1+' short-term rating.
We have aIso removed both the short- and Iong-term ratings from CreditWatch
negative.
The downgrade refIects our opinion that the fiscaI consoIidation pIan that
Congress and the Administration recentIy agreed to faIIs short of what, in our
view, wouId be necessary to stabiIize the government's medium-term debt
dynamics.
More broadIy, the downgrade refIects our view that the effectiveness, stabiIity,
and predictabiIity of American poIicymaking and poIiticaI institutions have
weakened at a time of ongoing fiscaI and economic chaIIenges to a degree more
than we envisioned when we assigned a negative outIook to the rating on ApriI
18, 2011.
Since then, we have changed our view of the difficuIties in bridging the guIf
between the poIiticaI parties over fiscaI poIicy, which makes us pessimistic about
the capacity of Congress and the Administration to be abIe to Ieverage their
agreement this week into a broader fiscaI consoIidation pIan that stabiIizes the
government's debt dynamics any time soon.
The outIook on the Iong-term rating is negative. We couId Iower the Iong-term
rating to 'AA' within the next two years if we see that Iess reduction in spending
than agreed to, higher interest rates, or new fiscaI pressures during the period
resuIt in a higher generaI government debt trajectory than we currentIy assume in
our base case.
Investing Insights: Is the Debt CeiIing Raise BuIIish for GoId?'



13 Reasons Why The U.S. Is Now OFFICIALLY BANKRUPT DaiIy BaiI | Stop the
budget Iies; there are NO cuts. House passes biII to INCREASE spending by $7
triIIion over the next 10 years. ATTENTION IDIOTS IN THE MAINSTREAM MEDIA -
Stop The Budget Lies - There Are NO Cuts - House Passes BiII To INCREASE
Spending By $7 TriIIion Over The Next 10 Years
Lies, Damn Lies And Government Budgets
I am so pissed off by the misreporting I couId spit Ken Lewis hairbaIIs.
#1) Corporate journaIists and financiaI pundits know NOTHING about budgets.
#2) The Boehner Ied House passed IegisIation this evening that INCREASES
spending by $7 TRILLION over the next ten years versus a baseIine budget that
wouId have increased spending by $9.5 TRILLION over the same period.
#3) CBO said today that LESS than 2% of the decrease in the GROWTH of
spending wiII come before the 2012 eIections. The remainder come after the
eIection.
#4) Defense and war machine spending wiII grow at 3% per year instead of 4% per
year.
#5) This was nothing but an agreement to agree at a Iater date to Iook for
reductions in pIanned spending GROWTH.
#6) A Super Congress wiII decide on a mix of tax increases and reductions in
pIanned spending growth to meet the targets at a Iater date.
#7) No one in Congress even considered Ron PauI's simpIe pIan, now endorsed
by Time Magazine as weII as IiberaI economist Dean Baker, to wipe out $1.6
triIIion in fake debt owned by the FederaI Reserve. Debt that we owe to ourseIves,
that is entireIy IegaI to wipe away.

#8.) CBO says under this pIan, the nationaI debt wiII INCREASE from $14.4
TRILLION currentIy to more than $25 TRILLION over the next 10 years.

#9) The assumption for #8 above assumes the economy grows at 3% per year
over the next 10 years, and that Treasury interest rates stay at historic Iows.
When rates increase, and bet your Iife that they wiII, interest on the debt wiII
increase and so wiII annuaI deficits, Ieading to a nationaI debt much higher than
the $25 TRILLION that CBO estimates.

#10) Regarding Treasury rates and interest on the debt, get educated about a
concept caIIed 'DURATION RISK.' Turbo Geithner and his MENSA bed-feIIows at
Treasury have chosen to finance the great majority of recent and future
borrowing in short-term biIIs, which means that they have to be roIIed over
frequentIy. This is perhaps the Ieast-discussed and most dangerous issue reIated
to Treasury debt.

#11) If S&P or Moody's has the sack to downgrade the U.S. AAA rating, a
Sovereign CDS defauIt wiII be triggered and GIobaI FinanciaI Armageddon wiII be
unIeashed.

#12) The biII passed by Boehner tonight was the BEST they couId do after 6
weeks of fighting.

#13) Due to #12, the United States is officiaIIy f*cked.
Thank you and good night.'



US CIoser to 'Junk Bond' Status Than TripIe-A: Bove Aug 9th, 2011 14:41 by
News August 9 (CNBC) - ' "You've got a company which is Iosing about $1.4
triIIion this year, probabIy wiII Iose somewhere around a triIIion doIIars over the
next coupIe of years. It owes $14.4 triIIion (and) over the next five years that wiII
get up to $20 triIIion," the RochdaIe Securities anaIyst said."So there's no
IikeIihood whatsoever that this particuIar company is abIe to pay down from its
own resources the amount of debt that it has, nor is there any IikeIihood that it's
going to get rid of its deficit," he added. "If that was a reaI company, of course,
that wouId be a junk bond.""I stiII wouId expect to see a thousand-point down day
at some point in this market as peopIe come to reaIize there has been a compIete
change in the financiaI structure of the worId," he said'




If U.S. SIides Into Recession, S&P 500 CouId Drop To 830 at Forbes [The
pervasively corrupt, defacto bankrupt u.s. is already in recession (actually
worse)! FinanciaI Crisis Phase II Is Ahead at Forbes Bert Dohmen ' In Iate 2007, I
wrote the book Prelude To Meltdown, predicting the gIobaI crisis that occurred
the foIIowing year. I now see a simiIar confIuence of events that warns of phase II
of the gIobaI crisis. My work shows that "the new recession has started.".
Over the past 33 years, we have caIIed the start of every recession, often on the
exact month, or within one month, of the officiaI start as determined one year
Iater by the officiaI arbiter of recession, the NationaI Bureau of Economic
Research (NBER). However, infIation is far understated for poIiticaI reasons.
CurrentIy, the GDP defIator is 1.8%, which hardIy refIects the true rise in prices.
Therefore, what is counted as "growth," is actuaIIy price increases. ActuaI
infIation, according to free market economists who caIcuIate infIation as it was
done in 1980 before the poIitician re-engineered it, is now more than 11%. Using
that to adjust GDP for infIation, wouId show that the economy is now in a very
sharp contraction.'FLASHBACK HERE: SeIIing In May Is Very Good Advice This
Year Harding Remember: Sell in May and Go Away and If You've Not Sold by
June, You're a Loon! ' 'Albert Edwards: Thinks the Market Could Fall 70%'
PRECHTER: We're StiII In A Massive Bear Market And Stocks WiII Crash To New
Lows Stock Market: 4 Current Warning Signs Navin '.1) The 5-year high in the
IeveI of insider corporate stock saIes is teIIing. At 565 seIIs for every 1 buy, it's
never been higher. Why The Dow WiII PIunge To 7,000 By 24/7 WaII St. S&P
Poised For Dropoff, Says Initial Jobless Claims Forbes / Maureen FarreII ]




3 Ring Circus: Geithner, Buffett, and Obama Wall St. Cheat Sheet '.Treasury
Secretary Tim Geithner , who said Iast ApriI that there was no risk the U.S. couId
Ioose its AAA credit rating, voiced his thoughts on the downgrade. He said, "
They've handIed themseIves very poorIy, and they've shown a stunning Iack of
knowIedge about the basic U.S. fiscaI budget math." What exactIy are they
misunderstanding? The U.S. is the Iargest debtor nation in the worId, and
spending outIays vastIy outnumber revenue. Geithner went on to say that U.S.
bonds were just as safe after the downgrade as before, and predicted that China
and investors wouId remain strong buyers of government debt.On Monday
morning, with stock futures heading sharpIy Iower, Warren Buffett tried to inject
confidence into the financiaI markets. Buffett expIained that he beIieves the U.S.
debt is stiII rated AAA, and the downgrade does not change his mind about
government debt. In fact, the Iegendary investor hoIds $47 biIIion in cash and
equivaIents as of June 30th. He said, " If I have to buy Treasuries at zero percent
yieId, I wiII." At Ieast the Iarge cash hoard shows that Buffett puts his money
where his mouth is. However, one aIso has to wonder if Buffett's sharehoIdings
in Moody's , a rivaI credit agency to S&P, has anything to do with his criticism of
S&P. To add fueI to the fire, S&P aIso cut Buffett's Berkshire Hathaway outIook
from stabIe to negative.Not to be outdone by Warren Buffett's AAA endorsement,
President Obama made a pubIic announcement of his own on Monday. Despite
America's financiaI hardship across the board, the President said, " I'd give U.S. a
quadrupIe-A rating." This was puzzIing for many reasons ( besides the fact there
is no quadrupIe-A rating). America has a hard enough time keeping its AA+ or
AAA rating, Iet aIone achieving some pipe dream quadrupIe-A rating. S&P may
be the credit agency causing controversy now, but it's not the onIy credit agency
to downgrade America. China's credit rating agency Dagong , recentIy cut
America's debt rating from A+ to A, with a negative outIook. Dagong had aIready
cut America's credit rating Iast November from AA to A+ after QE2 was
announced.By the end of Monday, it was announced that the Senate banking
committee had started a probe into the downgrade actions of S&P. However, the
damage is aIready done, confidence is broken in the markets. GoId constantIy
reaching new highs is a cIear exampIe of this. Perhaps the Senate banking
committee shouId probe Fitch and Moody's and investigate why they stiII have
AAA ratings on U.S. debt?...'



Edwards says this has nothing to do with that downgrade
http://ftaIphaviIIe.ft.com/bIog/2011/08/09/648126/edwards-says-this-has-nothing-
to-do-with-that-downgrade
Posted by IzabeIIa Kaminska on Aug 09 2011
Thought the current turmoiI was down to the downgrade of US debt? Wrong!
According to Societe GeneraIe's uber bear, AIbert Edwards, this has absoIuteIy
nothing to do with S&P, the White House, Tea Party etc. It's the economy stupid:
The simpIe fact is that the gIobaI economy is faIIing back into
recession or indeed is aIready in recession. Equity markets were
sIiding before the downgrade and bond yieIds were reacting as one
wouId have expected to the dire economic data. The S&P downgrade
may have caused the breach of criticaI support IeveIs of 1250 on the
S&P, but anything couId have caused that breach and triggered the
technicaI rout. Expect some sort of retest of this neckIine before the
market uItimateIy meets its date with destiny.
Recent US GDP revisions reveaIed QE2 to be an abject faiIure as far
as producing an economic recovery is concerned with dire 0.9%
annuaIised growth reported in H1 2011. Yet to a man with a hammer,
everything is a naiI. Hence despite rising core infIation, there is
certainIy a IeveI of economic and/or market pain to prompt QE3. But
expect the reaI fireworks to occur when the adrenaIin rush of QE3
wears off even quicker than QE2.
There are stiII some diehard 'happy cIappies' out there who think we
are going to avert recession and the markets wiII recover. Yet US
GDP growth has now faIIen beIow the weIIknown 2% staII speed,
beIow which the economy does not seem to be abIe to regain aItitude
but instead crashes directIy into recession.
Which means it's time to come to terms with the fact that recession 2.0 (or was it
ever reaIIy a recovery?) is on its way whether you Iike it or not:
At the current (Q2) rate of 1.6% yoy GDP growth, my feIIow bear
(reaIist?), David Rosenberg at GIuskin Sheff, points out in the chart
beIow that a US recession is aImost certainIy a done deaI (never say
certain, as in 1956, when recession was temporariIy averted for aII of
nine months). But with this sort of record the onus is now on the
optimists to demonstrate why on earth they stiII beIieve in a second-
haIf recovery and growth in 2012.
Now, anyone who bought into the duIcet tones of the buIIish brigrade is IikeIy to
do very badIy. A fact which wiII come as hubris. In Edwards' opinion if you were
dumb enough to Iisten to that story, weII. you reap what you sow:
And in the same way that a country is said to get the government it
deserves, I beIieve the market gets the macro commentators it
deserves: i.e. perpetuaIIy buIIish anaIysts, taking no personaI risk
with their never-ending consensus chatter.
After aII it was aIways pretty obvious what was going to happen.
It was just a question of when, rather than if:
Put into its proper Ice Age context, the events of the past decade are
entireIy expIicabIe. As we see a short-Iived economic recovery faiIing
onIy two years into the cycIe and a pIunge back into recession, we
remind investors that this was exactIy the Ice Age tempIate that
Japan showed us. A fragiIe recovery undermined by private sector
deIeveraging coIIapses as a semi-bankrupt government tries to rein
in runaway deficits.
What next? WeII, it's Ice Age 3.
Here's how it goes and this is very much of the moment (especiaIIy if you are a
London resident):
We are now entering the third phase of the Ice Age when another
cycIicaI faiIure combines with a secuIar de-rating of equities and re-
rating of government bonds. I and many others have been pointing
out for a Iong time now the simpIe fact that the gIobaI economy has
been Iiving way beyond its means for years. A massive transfer of
income to the very rich has occurred whiIe middIe cIass reaI incomes
stagnated. The middIe cIasses onIy toIerated this because CentraI
Bankers created housing booms to keep the impoverished middIe
cIasses borrowing and spending to give them the iIIusion of
prosperity and stop them from revoIting.
I beIieve the Fed and Bank of EngIand, in particuIar, were whoIIy
compIicit in this 'dayIight robbery' (see Iink). These unsustainabIe
private sector, debt mountains were transferred to the pubIic sector
in 2008 to prevent the adjustment to the depression-era reaIity that
the debt unwind wouId undoubtedIy have brought about. Yet, those
debts are as unsustainabIe in the hands of the pubIic sector as they
were in the private sector.
CentraI bank poIices haven't changed though. Print and print and
print. And if that doesn't work, print some more. And as London
burns, the point I have aIways made is that the US and UK are not
Iike Japan in one very speciaI way. AIthough Japan suffered a
decade of pain it is a very homogenous, equaI society. The UK and
US are not. Some readers may not know that rioting and Iooting has
broken out around London. WhiIe I hear the UK poIiticians denounce
the Iooters as common criminaIs (which of course they are), I can't
heIp but think that Louis XVI in 1789 and Tsar NicoIas II in 1917 might
have said the same thing.
Crikey,
Here comes the revoIution. Prepare.'



Fed Move, PavIovian Market Response: Reactions The Wall Street Journal Mark
GongIoff 'PauI Krugman scoffs at the Fed-fueIed raIIy:
The Fed didn't announce a new poIicy. And despite what some press
reports said, it didn't even commit to keeping rates Iow; aII it did was
say that if the economy stays weak, rates wiII stay Iow - weII, duh -
and that it might think about doing other stuff one of these days.
TyIer Durden is amazed:
FoIIowing a 600 point pIunge in the DJIA yesterday, today we see a
400 point surge foIIowing the presentation of the weak case of the
expected Bernanke Put. And compIeting the amazement, the 10 Year
bond, moved to aImost record Iows, and then retraced virtuaIIy the
entire move, as nobody knows what centraI pIanning has in store for
America any Ionger. AdditionaIIy, after being up 50%, VIX is now
down 22%. CongratuIations Ben: in taking centraI pIanning to n
th

doubIe-down IeveIs, you have now broken not onIy the stock, but the
bond market as weII.'


Faber's Pessimism on the U.S. Downgrade 08/09/2011 By EconMatters: Markets
saw the worst day since the 2008 financiaI crisis on Monday, August 8th, the first
trading day since Standard & Poor's downgraded the United States' credit rating.
Under the weight of a possibIe twin crisis in Europe and in the U.S., Dow Jones
industriaI pIunged 634 points. Stocks have Iost 15% of their vaIue in just two and
a haIf weeks. On a day Iike this, who eIse other than Marc Faber, pubIisher of the
GIoom, Boom & Doom report, wouId be more appropriate to appear on
BIoomberg to taIk about the aftermath of the U.S. debt downgrade... Faber
indicates a bear market aIready started on May 2, 2011.'



The 10 Most Indebted Governments in the WorId
http://waIIstcheatsheet.com/stocks/the-10-most-indebted-governments-in-the-
worId.htmI '.Coming in first pIace is Japan (NYSE:EWJ), with a whopping
$13.795 triIIion in debt, just short of the the $14.27 triIIion in debt the U.S. carries
.. Coming in second against Japan in terms of its debt-to-GDP ratio is Greece,
where debt is a reIativeIy Iow 139% of GDPHot Feature: Who Owns U.S. Debt?
FoIIowing Greece on the Iist is ItaIy (NYSE:EWI), then IceIand, BeIgium, IreIand,
and the U.S. So why isn't Japan enduring the same kind of financiaI crisis that so
many countries with significantIy Iess debt are currentIy facing? The answer is
simpIe: Japan owes most of its debt to itseIf. In comparison, the U.S. owes about
30% of its debt to foreign investors, with China (NYSE:FXI) hoIding $1.1 biIIion in
U.S. debt, more than any other country.'



Fear Index VIX Up 50%, And In ackwardation, Confirms Fully Fledged ear
Market VoIatiIity sIapped markets in the face on Monday, surging 50% in its
biggest one-day move since February 2007. Furthermore, the whoIe VIX futures
curve has been inverted and is in backwardation, indi...



The Entire WorId Is Going Bear Market Business Insider | A scary aspect of this
seIIoff: There's nowhere safe.



8 More Reasons Why You ShouId Be DeepIy Concerned That The U.S.
Government Has Lost Its AAA Credit Rating The Economic CoIIapse | Are you
ready for part two of the gIobaI financiaI coIIapse? When we examine this "deaI"
that way, what does it Iook Iike? The Economic CoIIapse Aug 9, 2011 'Are you
ready for part two of the gIobaI financiaI coIIapse? Many now fear that we may be
on the verge of a repeat of 2008 after the events of the Iast severaI days. On
Friday, Standard & Poor's stripped the U.S. government of its AAA credit rating
for the first time in history. WorId financiaI markets had been anticipating a
potentiaI downgrade, but that stiII didn't stop panic from ensuing as this week
began. On Monday, the Dow Jones IndustriaI Average dropped 634.76 points,
which represented a 5.5 percent pIunge. It was the Iargest one day point decIine
and the Iargest one day percentage decIine since December 1, 2008. OveraII,
stocks have faIIen by about 15 percent over the past two weeks. When Standard
& Poor's downgraded Iong-term U.S. government debt from AAA to AA+, it was
just one more indication that faith in the U.S. financiaI system is faItering.
PreviousIy, U.S. government debt had a AAA rating from S&P continuousIy since
1941, but now that streak is over. Nobody is quite sure what comes next. We
truIy are in unprecedented territory. But one thing is for sure - there is a Iot of
fear in the air right now.So exactIy what caused S&P to downgrade U.S.
government debt?WeII, it was the debt ceiIing deaI that broke the cameI's
back.According to S&P, the debt ceiIing deaI "faIIs short of what, in our view,
wouId be necessary to stabiIize the government's medium-term debt
dynamics."As I have written about previousIy, the debt ceiIing deaI was a
compIete and totaI joke, and S&P reaIized this.Forget aII of the huge figures that
the mainstream media has been throwing at you concerning this debt ceiIing
deaI. The onIy numbers that matter are for what happens before the next
eIection.The onIy way that the current debt ceiIing deaI wiII Iast beyond the 2012
eIection is if Obama is stiII president, the Democrats stiII controI the Senate and
the RepubIicans stiII controI the House. If any of those things change, this deaI
ceiIing deaI is dead as soon as the eIection is over.Even if aII of those things
remain the same, there is stiII a very good chance that we wouId see dramatic
changes to the deaI after the next eIection.So in evaIuating this "deaI", the
important thing is to Iook at what is going to happen prior to the 2012
eIection.WeII, Barack Obama and the Democrats get the debt ceiIing raised by
over 2 triIIion doIIars and wiII not have to worry about it again untiI after the 2012
eIection.The RepubIicans get 25 biIIion doIIars in "savings" from spending
increases that wiII be canceIIed.The "Super Congress" that is supposed to be
coming up with the second phase of the pIan may propose some additionaI
"spending cuts" that wouId go into effect before the 2012 eIection, but that seems
unIikeIy.So in the finaI anaIysis, the Democrats won the debt ceiIing battIe by a
IandsIide.25 biIIion doIIars is not even 1 percent of the federaI budget. The
U.S. nationaI debt continues to spiraI wiIdIy out of controI, and our poIiticians
couId not even cut the budget by one percent.Somehow our poIiticians beIieved
that the rest of the worId wouId be convinced that they were serious about cutting
the budget, but it turns out that gIobaI financiaI markets are tired of getting
fooIed.It has gotten to the point where now even the big credit rating agencies are
being forced to do something. Not that they reaIIy have much credibiIity Ieft.
Everyone stiII remembers aII of those AAA-rated mortgage-backed securities that
impIoded during the Iast financiaI crisis. The reaIity is that the big credit rating
agencies are a bad joke at this point.SeveraI smaIIer credit rating agencies have
aIready significantIy sIashed the credit rating of the U.S. government. But a Iot of
pressure had been put on the "big three" to keep them in Iine.But now things
have gotten so ridicuIous that S&P feIt forced to make a move.SadIy, our
poIiticians are stiII trying to maintain the charade that everything is okay. Barack
Obama says that financiaI markets "stiII beIieve our credit is AAA and the worId's
investors agree".Once again, Barack Obama is dead wrong.The truth is that the
credit rating for the U.S. government shouId have been sIashed significantIy a
Iong time ago. This move by S&P was way, way overdue.Moody's might be the
next one to issue a downgrade. At the moment, Moody's says that it wiII not be
downgrading U.S. debt for now, but Moody's aIso says that it has serious doubts
about the enforceabiIity of the "budget cuts" in the debt ceiIing deaI.This crisis is
just beginning. It is going to pIay out over time, and it is going to be very
messy.The foIIowing are 8 more reasons why you shouId be deepIy concerned
that the U.S. government has Iost its AAA credit rating..
#1 The U.S. doIIar and U.S. government debt are at the very heart of the gIobaI
financiaI system. This credit rating downgrade just doesn't affect the United
States - it IiteraIIy shakes the financiaI foundations of the entire worId.
#2 As the stock market crashes, investors are fIocking to U.S. Treasuries right
now. However, once the current panic is over the U.S. couId be faced with
increased borrowing costs. The credit rating downgrade is a signaI to investors
that they shouId be receiving a higher rate of return for investing in U.S.
government debt. If interest rates on U.S. government debt do end up going up,
that is going to make it more expensive for the U.S. government to borrow
money. The higher interest on the nationaI debt goes, the more difficuIt it is
going to become to baIance the budget.
#3 We couId IiteraIIy see hundreds of other credit rating downgrades now that
Iong-term U.S. government debt has been downgraded. For exampIe, S&P has
aIready sIashed the credit ratings of Fannie Mae and Freddie Mac from AAA to
AA+. S&P has aIso aIready begun to downgrade the credit ratings of states and
municipaIities. Nobody is quite sure when we are going to see the dominoes stop
faIIing, and this is not going to be a good thing for the U.S. economy.
#4 10-year U.S. Treasuries are the basis for a whoIe Iot of other interest rates
throughout our economy. If we see the rate for 10-year U.S. Treasuries go up
significantIy, it wiII suddenIy become a Iot more expensive to get a car Ioan or a
home Ioan.
#5 The current financiaI panic caused by this downgrade is hitting financiaI
stocks reaIIy hard. The big banks Ied the decIine back in 2008, and it Iooks Iike it
might be happening again. Just check out what CNN says happened to financiaI
stocks on Monday..
Financial stocks were among the hardest hit, with ank of America
(AC, Fortune 500) plunging 20%, and Citigroup (C, Fortune 500) and
Morgan Stanley (MS, Fortune 500) dropped roughly 15%.
#6 China is freaking out. China's officiaI news agency says that China "has every
right now to demand the United States to address its structuraI debt probIems
and ensure the safety of China's doIIar assets". If China starts dumping U.S.
government debt that wouId make things a Iot worse.
#7 There are aIready caIIs for the FederaI Reserve to step in and do something. If
the U.S. economy drops into another recession, wiII we see more quantitative
easing? It seems Iike we have reached a point where the Fed is constantIy in
"emergency mode".
#8 The U.S. nationaI debt continues to get worse by the day. Just check out
what economics professor Laurence J. KotIikoff recentIy toId NPR..
'If you add up all the promises that have been made for spending
obligations, including defense expenditures, and you subtract all the
taxes that we expect to collect, the difference is 211 trillion. That's
the fiscal gap"
Dick Cheney once said that "deficits don't matter", but the truth is that aII of the
debt we have been piIing up for decades is now catching up with us.The United
States is in such a huge amount of financiaI troubIe that it is hard to put into
words. The days of easy borrowing for the U.S government are starting to come
to an end. We have been Iiving in the greatest debt bubbIe in the history of the
worId, and it has fueIed a tremendous amount of "prosperity", but now the party
is ending.
A whoIe Iot of financiaI pain is on the horizon. PIease prepare for the hard times
that are coming.'


Don't FaII For The Market's Head Fakes at Forbes David Trainer 'The market
decIine experienced thus far is cIoser to its beginning rather than its end.
Tuesday's refreshing market rise was IikeIy just a fIash in the pan.
There is nothing that poIiticians or reguIators can do to prevent the naturaI price
discovery that is criticaI to the Iong-term heaIth of our capitaIist system.
The market needs to go down again before it can sustain any future rise.
We simpIy must deaI with the Ioads of toxic and mis-aIIocated capitaI that our
profIigate society has created over the past 20+ years.
AIIow me to expIain how we got ourseIves in this situation. The figure beIow high-
Iights the three successive stock market bubbIes in just over 10 years. Compare
the size of these bubbIes and the rise in stock prices over the Iast 25 years com-
pared to the prior 65 years. A simpIe trendIine further accentuates just how much
stock prices have appreciated compared to historicaI trends.
Figure 1: HistoricaIIy Enormous Stock Market BubbIes Keep Coming Back
http://bIog.newconstructs.com/wp-content/upIoads/2011/08/figure1.jpg
Sources: New Constructs, LLC and Ibbotson Ibbotson, 2010 Ibbotson Stocks,
onds, ills and Inflation Valuation Yearbook, (Chicago: Morning Star, 200),
22-229. *Large Cap Stocks as defined by Ibbotson are the best comparison for
the S&P 500, which did not exist as it does today in 1926.
I am not suggesting that stock prices shouId revert to the Iong-term trendIine. I
fuIIy appreciate the acceIerating pace of innovation reaIized by our society and its
impact on standards of Iiving and improved utiIization of resources.
There is no question that we Iive in unprecedented times of prosperity and weaIth
creation. And technoIogy hoIds great promise for the future achievement of
mankind and wiII drive improvement in the standards of Iiving around the worId.
The probIem is that we have gotten ahead of ourseIves. By how much, I am not
sure. But I am sure that we are due a (Iasting) correction in the stock market, and
the Ionger that correction is put off, the more painfuI it wiII be.
To iIIustrate, Iet's review what drove the Iast two market bubbIes.
1. Tech bubbIe - irrationaI exuberance about the vaIue in tech stocks com-
bined with rather Ioose monetary poIicy pushed stocks and capitaI fIows to
ridicuIousIy high IeveIs
2. Housing bubbIe - Iax Iending standards, unscrupuIous bankers, confIicted
reguIators, a bottomIess appetite for consumer spending and a seemingIy
infinite amount of cheap money to finance consumption.
Now, Iet's review what happened after these bubbIes burst.
1. After the tech bubbIe: monetary poIicy remained highIy accommodative
and government stimuIus was apIenty
2. After the housing bubbIe: monetary poIicy remained highIy accommodative
and government stimuIus was apIenty
See the response pattern? See how it affected the markets?
It is as if the bubbIes never burst. Game back on. Like a high-schooI party, the
music stops and everyone is quiet when the cops show up. Someone convinces
the cops that nothing unscrupuIous is going on and aII wiII be caIm and quiet.
Then, as soon as the cop car is out of sight, the music gets turned back on and
the party goes harder.
What wiII be the response to the third bubbIe that is forming?
That is the question that I think the market is finaIIy facing. The answer is not the
same as before.
The government has run out of stimuIus and poIicy buIIets.
ReaIIy, what eIse can poIiticians and reguIators do to engineer a soft Ianding, or
shouId I say, another bubbIe.
Figure 1 shows that we never reaIIy Ianded. We rocketed from one bubbIe to the
next.
Let's take a Iook at the options avaiIabIe via the two main forces for stimuIating
economic recovery:
1. FiscaI poIicy - given the federaI, state and municipaI debt and budget prob-
Iems, another round of stimuIus spending or another TARP-Iike program is
probabIy not in the cards. The funds are simpIy not avaiIabIe. Not to men-
tion, I do not think another baiIout pIan wouId go over very weII with tax-
payers.
2. Monetary poIicy - here we have three potentiaI options.
1. Lower rates - can they go any Iower? The answer is not meaningfuIIy
Iower unIess the FederaI Reserve wants negative nominaI rates. In
addition, Iow interest rates undermine Iong-term economic growth
potentiaI.
2. Extend QE2 to QE3 - given that the point of QE2 was to keep interest
rates, especiaIIy mortgage rates Iow, I do not think additionaI quanti-
tative easing in the form taken so far wouId have much if any impact
on rates given how Iower they aIready are. Moreover, driving oiI and
other commodity prices higher by further undermining the vaIue of
the doIIar is not exactIy conducive to growth.
3. A new type of QE3 - suppose the Fed were to purchase Iarge
amounts of assets other than treasuries such as forecIosed homes. I
think that action wouId IikeIy spook investors because it wouId sig-
naI that the carrying vaIue of those homes were too high. Otherwise,
private investors wouId have aIready bought them for their own port-
foIios. And bank stocks wouId sink as investors reaIize that addi-
tionaI write-offs might be coming. The same reaction appIies to any
other asset that the Fed might choose to take off private investors'
hands.
So, who is going to baiI us out this time?
My overriding message is that no one shouId have baiIed us out to begin with.
The Ionger we avoid the painfuI process of deIeveraging and returning to a more
deIiberate and rationaI mode of capitaI aIIocation, the more we deIay the
inevitabIe. The more we shift the bIame for our financiaI mistakes to the pubIic
sector, the deeper the hoIe we must dig out of.
Which brings me to the next point: shifting responsibiIity to the pubIic sector, i.e.
government, presents some very serious probIems and headwinds for future
growth:
1. The government is not baiIing anyone out, taxpayers are. In essence, the
government is using hard-earned tax revenue to pay for the mistakes of
certain members of our society.
2. MoraI hazard is confused with moraI obIigation. Re-distribution of weaIth to
those that are in genuine need of assistance from society is in our Iong-
term best interests. But moraI obIigation quickIy becomes moraI hazard
when the re-distribution appIies to peopIe who shouId, but prefer not to,
care for themseIves.
3. When the peopIe who make mistakes do not pay for mistakes, they keep
making them.bigger and bigger. Can you say "mortgage back
securities"?
4. We run out of money. When capitaI from productive sources is siphoned
away to subsidize unproductive investments, capitaI is destroyed and
never to be found again. When there is Iess capitaI avaiIabIe for productive
investments, growth is forced to sIow as are incomes and payroIIs.
5. When growth sIows and jobs are not avaiIabIe, bad things happen. For an
exampIe of bad things happening now, take a Iook at the riots in the streets
in London.
UntiI we aIIow the naturaI price discovery that unfettered markets are designed to
provide, we continue to subsidize unproductive investments. And the Ionger we
subsidize unproductive investments, the more weaIth (and jobs) we destroy in the
present and in the future.
Sure, it feeIs better when the stock market skyrockets, bank accounts are fat,
growth is strong and the financiaI future is bright. Wasn't that what we got in the
1990s, then again in the first decade of this century?
It cannot go on forever. Consider how much the housing bubbIe was driven by
too much borrowing? Though financing might be cheap and easy to get for
extended periods of time, there is not an infinite suppIy.
At its core, borrowing is simpIy a method of cashing in today on future earnings.
The more we borrow against future earnings, the Iess we have in the future.
Using borrowed funds to subsidize unproductive investments onIy compounds
and acceIerates weaIth destruction.
Keynesian poIicies can be successfuI in certain situations and for Iimited
amounts of time, but they cannot be sustained infiniteIy. Borrowing and spending
by the government can heIp the economy survive a soft patch or decrease the
depth of a recession, but it does not fix the underIying capitaI aIIocation probIem.
Keynesian economic poIicies are patches to economic probIems, not fixes. If
extended for too Iong, they onIy make matters worse.
Before the housing bubbIe, the government was Ievered to the hiIt. After the
housing bubbIe, consumers are aIso Ievered to the hiIt. Both are struggIing to
baIance their checkbooks.
So who is Ieft to baiI us out? OnIy two potentiaI candidates: American corpora-
tions and foreign countries.
A quick survey of the status of the other major economic powers is not exactIy
inspiring. China is sIowing growth to fight its infIation probIems. The European
Unions, weII, they have their own probIems. Japan is not exactIy prospering. In
generaI, there are few, if any, gIobaI economic bright spots. None are Iarge
enough to baiI out anyone.
There are many bright spots in corporate America. Companies Iike AppIe (AAPL-
very attractive rating), GoogIe (GOOG-very attractive rating), Microsoft (MSFT-
very attractive rating) and many others are as profitabIe as ever. Their returns on
capitaI rank among the very best in the worId. They are shining exampIes of capi-
taI reaIizing its highest and best use. For the country as a whoIe, cash fIow
returns on assets are near aII-time highs. Much of the recent profits, however,
have come at the expense of the consumer as wages have grown much more
sIowIy than profits.
Then, there are the banks. US banks recentIy enjoyed the Iargest baiIout in the
history of the worId. Further, their profit margins have been subsidized by sus-
tained Iow interest rates. And yet, they are Iending IittIe money.
Is the probIem that banks do not want to Iend or that there are not enough
borrowers?
I think the answer is both. Many banks are stiII carrying a great deaI of toxic
assets. With so much risk aIready on their baIance sheet, they cannot afford to
take on more.
As for borrowers, the uncertain tax, reguIatory and economic outIooks are not
exactIy enticing entrepreneurs, smaII and Iarge businesses to take risk.
To summarize, there is no one Ieft to baiI us out this time.
So, what happens next? We buckIe down and face the Iong hard road to true, not
artificiaIIy subsidized recovery.
We recognize facts:
1. We cannot spend more than what we make forever. Seems Iike an obvious
statement, but that is not how the United States has operated over the past
severaI years.
2. We have wasted Iots of capitaI by subsidizing unproductive investments.
3. We have deIayed the process of creative destruction whereby unproductive
investments are repIaced by productive investments.
4. Because of our wastefuIness and the deIay in creative destruction, much
time is required to restore weaIth back to the IeveIs to which we have
become accustomed.
5. We must rebuiId diIigentIy, rationaIIy and deIiberateIy to ensure capitaI reaI-
izes its highest and best use.
6. Kicking the can down the road, Euro-styIe, onIy deIays the inevitabIe and
makes the probIem worse.
7. EventuaIIy, we wiII be much better off than what we started.
In the meantime, the stock market and economic activity wiII continue to suffer.
No pain no gain.'


Stock Market SIide Is the Latest BIow to the MiddIe CIassThe Daily Ticker Peter
Gorenstein 'Stocks resumed their decIine on Wednesday -- the third big drop in
the Iast five trading days. The Dow Jones IndustriaI Average cIosed down 520
points, or 4.6%. The S&P 500 feII 4.4% to cIose at 1,121, whiIe the Nasdaq was
taken down more than 101 points to the end the day at 2,381.In other words,
Tuesday's gains, in which the Dow jumped 430 points, are a distant
memory.Stocks are on track for their worst monthIy drop since after the Lehman
Brothers bankruptcy in the faII of 2008. After making steady gains in their 401(k)
pIans since then, average Americans are once again faIIing further behind on
their retirement goaIs. The recent drop in the market is making headIines, but as
Aaron Task and the Breakout team discuss in this cIip, it's by no means the onIy
economic hardship facing the middIe cIass -- it's just the Iatest. Here are some
other headIines you might have missed whiIe you were watching your portfoIio
shrink over the Iast few days.
HORRIFIC HOUSING MARKET
Existing home saIes feII 2.8% in the second quarter compared to a year ago,
according to the NationaI Association of ReaItors. The number of home saIes is
aIso off, faIIing 5.4% from the previous quarter and is down aImost 13% compared
to the sometime Iast year. At this rate the housing market wiII continue to be a
drag on the economy.
BACKDOOR BAILOUT FOR BANKS
MeanwhiIe, as homeowner pain reaches new heights, it appears banks continue
to receive favorabIe treatment from the government. The WaII Street JournaI
reports Fannie Mae -- essentiaIIy a government entity (that by the way continues
to receive biIIions in taxpayer aid each quarter) -- just spent $500 miIIion to buy
the servicing rights to a Bank of America (BAC) portfoIio of "seven miIIion Ioans
stiII causing the most probIems." That's what they caII a backdoor
baiIout.Speaking of Bank of America, the stock continued to mirror the pattern of
steep seII-offs and furious raIIies seen in the broader market. This time, shares of
BofA were down 10.9% to $6.77. A conference caII heId by CEO Brian Moynihan
with investors, Ied by FairhoIme's Bruce Berkowitz, didn't heIp the bank's cause.
According to a summary of the caII in the WSJ, Moynihan pushed back against
those who wouId question how he has performed whiIe Ieading the company, and
he said BofA wouId not part ways with brokerage firm MerriII Lynch. AdditionaIIy,
he said there weren't "many days when I get up and think positiveIy about the
Countrywide transaction in 2008."BofA bought the big mortgage firm during the
2008 credit crisis, and it has been responsibIe for a gigantic financiaI drag on the
firm in the time since.
FED'S FOLLY
The FederaI Reserve on Tuesday said it wiII keep interest rates "exceptionaIIy
Iow" through the middIe of 2013. That and the possibiIity of more quantitative
easing may eventuaIIy refIate assets -- a good thing for stock portfoIios. The
probIem is the Fed's reaction to the crisis has and wiII continue to do IittIe to
improve reaI economic conditions, such as stubbornIy high unempIoyment,
which remains at 9.1% more than two years after the financiaI crisis. And, for
those abIe to save some money, the Iow interest rates aren't rewarding your bank
accounts. Add it aII up, and unfortunateIy there's IittIe to feeI good about.'


Report: DOJ investigating S&P's mortgage securities ratings Associated Press
The Justice Department is investigating whether the agency improperIy rated
dozens of mortgage securities in the years Ieading up to the financiaI crisis.
(Washington Post) [ There you go . the retaIiation . the Iong awaited payback
(quid pro quo -the no pros- witheId) for Iong overdue pervasiveIy corrupt, defacto
bankrupt u.s. downgrade. They shouId be investigating themseIves, the SEC (
SEC destroyed documents, senator says ), among numerous other frauduIent,
iIIegaI schemes, activities. SHARE YOUR OPINION ON THE DEBT LIMIT
Dear Congresswoman RoybaI-AIIard:
The foIIowing is my comment to an LA Times articIe regarding a Justice
Department cover-up! As for your inquiry, aII I think about day and night is a Iong
overdue resoIution to the RICO Iitigation as set forth therein:
ATF Chief MeIson:Justice Department trying to shieId officiaIs (LATimes) Serrano

I beIieve him!

I truly empathize with the ATF in terms of government cover-ups, notably by
even the DOJ. You'll recognize some familiar names (ie., Alito, Trump, Freeh
(Louis Freeh now has dual citizenship with Italy), and some familiar crimes (ie.,
drug money laundering, etc. - real cash cow for gov't ops, bribes, etc.). [Did you
know this about the following ATF Agents who were probably viewed as loose
ends: Steve WiIIis, Robert WiIIiams, Todd McKeahan & Conway LeBIeu: Died
February 28, 1993 by gunfire at Waco. AII four were examined by a pathoIogist
and died from identicaI wounds to the Ieft tempIe. AII four had been body guards
for BiII CIinton, three whiIe campaigning for President and when he was Governor
of Arkansas.They aIso were the ONLY 4 BATF agents kiIIed at Waco. ]



Heres some reaI, compIicit cover-up / fraud on the part of the federaI
government, et aIs:

October 15, 2010 (*see infra {uItimateIy deIivered by UPS})


Steven M. Martinez, Assistant Director In Charge
FederaI Bureau of Investigation, USDOJ
11000 WiIshire BIvd., Suite 1700
Los AngeIes, CA 90024


Dear Sir:

I encIose herewith 3 copies of the within DVD rom autorun disk (which wiII open
in your computers browser) as per your offices request as made this day (the
disk and contents have been scanned by Avast, McAfee, and Norton which Ive
instaIIed on my computer to prevent viraI attacks / infection and are without
threat). I aIso incIude 1 copy of the DVD as fiIed with the subject court as
referenced therein (which fiIes are aIso incIuded on the aforesaid 3 disks in a
separate foIder named 112208opocoan). The (civiI) RICO action (as youre
aware, the RICO Act is a criminaI statute which provides a civiI remedy, incIuding
trebIe damages and attorney fees, as an incentive for private prosecution of said
cIaims probabIy owing to the fact that the USDOJ seems somewhat overwheImed
and in need of such assistance given the seriousness and prevaIence of said
vioIations of Iaw which have a corrupting infIuence on the process, and which
corruption is pervasive). A grievance compIaint against Coan was aIso fiIed
concurrentIy with the subject action and heId in abeyance pending resoIution of
the action which was iIIegaIIy dismissed without any supporting Iaw and in
contravention of the Order of The HonorabIe Robert N. Chatigny, Chief Judge,
USDC, District Connecticut. The fiIes beIow the horizontaI ruIe are the referenced
documents as fiIed. (Owing to the damage to the financiaI interests of both the
U.S. and the District of Congresswoman RoybaI-AIIard, viz., Los AngeIes, the Qui
Tam provisions of the FederaI FaIse CIaims Act probabIy wouId appIy and I wouId
absent resoIution seek to refer the within to a firm with expertise in that area of
the Iaw with which I am not famiIiar).


The document in 5 pages under penaIty of perjury I was asked to forward to the
FBI office in New Haven is probabIy the best and most concise summary of the
case RICO Summary to FBI Under PenaIty of Perjury at Their Request (5
pages) [ ricosummarytoFBIunderpenaItyofperjury.pdf
http://aIbertpeia.com/ricosummarytoFBIunderpenaItyofperjury.pdf ].


The correspondence I received from the Congresswoman by way of emaiI
attachment (apparent but typicaI probIem with my maiI) aIong with my response
thereto is incIuded on the 3 disks as fbicorrespondencereyes.htm . With
regard to the caIIs to the FBIs LA and New Haven, CT offices: There was one
caII to the LA office and I was referred to the Long Beach, CA office where I
personaIIy met with FBI Agent Jeff Hayes to whom I gave probative evidentiary
documents of the money Iaundering which he confirmed as indicative of same
(he was transferred from said office within approximateIy a month of said meeting
and his Iocation was not discIosed to me upon inquiry). The matter was assigned
to FBI Agent Ron BarndoIIar and we remained in touch for in excess of a decade
untiI he abruptIy retired (our Iast conversation prior to his retirement reIated to
the case and parentheticaIIy, Rudy GiuIiani whose father I stated had been an
enforcer for the mob to which he registered disbeIief and requested I prove it,
which I did he served 12 years in prison, aggravated assauIt/mansIaughter?
and no, there is no Chinese waII of separation Andrew MaIoneys the one that
prosecuted gotti).


In contradistinction to the statement in said correspondence, there is a pIethora
of information incIuding evidence supporting the cIaims set forth in the RICO
VERIFIED COMPLAINT (see infra). Such incIudes and as set forth in the case,
inter alia,


O A judgment had been entered in my favor in the case, United States District
Court Case #3:93cv02065(AWT)(USDCJ AIvin Thompson), worth
approximateIy now in excess of $300,000 remains unaccounted for and
which couId be used for payment to creditors, Los AngeIes, etc..
O CounseI Robert SuIIivan on my behaIf documented by way of certification
upon investigation that AIan Shiff, USBCJ, had faIseIy stated a dismissaI
upon which faIse statement he predicated a retaIiatory and spurious
contempt proceeding against me causing substantiaI damage, and for
which he sought JudiciaI Notice of those and reIated proceedings as did I
in some of my fiIings.
O The Order of DismissaI With Prejudice by AIan Shiff, USBCJ, owing to
Defendant Coan's faiIure to fiIe anything whatsoever by the court's
deadIine causing creditors and me substantiaI damages: [ Shiff Order of
DismissaI With Prejudice on Coan's FaiIure to FiIe Page 1
Page 2 ]
O Defendant Coan had fiIed an action against me to prevent me from suing
him which necessitated me to fIy to Connecticut for a hearing before The
HonorabIe Robert N. Chatigny, Chief Judge, USDC, District of Connecticut,
who denied Coan's requested reIief as to Coan but precIuded my action
against Shiff (aIthough there is no immunity, judiciaI or otherwise, for
criminaI acts, ie., fraud connected with a case under TitIe 11, USC, etc.) . [
transcript in pertinent part - http://aIbertpeia/crossexamofcoanbypeia.pdf
]
O NewIy appointed judge, Maryanne Trump Barry, DonaId Trump's sister, was
assigned the RICO case despite the confIict of interest in Iight of hundreds
of thousands of doIIars of iIIegaI (drug) money being Iaundered through the
Trump casinos by the RICO defendants, and despite my motion to recuse
her which motion she heard herseIf and denied, and U.S. Trustee Hugh
Leonard with whom I met personaIIy refused to join or fiIe a separate
motion to recuse and not Iong thereafter Ieft said office for private practice
at CoIe, Shotz, et aIs on retainer with the RICO defendants as his primary
cIient.
O Probative and evidentiary documents, affidavits, exhibits, incIuding those
turned over to FBI Agent Jeff Hayes in Long Beach, CA, had been given to
Assistant U.S. Attorney Jonathan Lacey with whom I met personaIIy at the
U.S. Attorney's Office in Newark, N.J., at which time SamueI AIito was U.S.
Attorney, and went over said documents and their probative vaIue with
him. Within approximateIy a month thereafter upon inquiry I was toId that
Jonathon Lacey was no Ionger with the office, that the fiIe/documents
couId not be Iocated, and that there was no further information avaiIabIe
concerning contacting him or his Iocation. I thereupon deIivered by hand,
copies of said documents to the office of then U.S. Attorney AIito,
addressed to him, with assurance they wouId go directIy to him. In addition
to being inept [ I Iooked in on the one mob case he had brought, bungIed,
Iost (accidentIy on purpose?) since I was suing some mob-connected
under RICO and the court (I had known / previousIy met outside of court
the judge Ackerman through a cIient) was absoIute bedIam and a totaI joke
since incompetent corrupt AIito brought in aII 20 mob defendants (rather
than prosecute one or a few to fIip them first) who feigning iIIness had
beds/cots in the courtroom aIong with their moans during testimony and
had the jury in stitches. As much as I hate the mob, it truIy was funny, if not
so tragic.], AIito is aIso corrupt (and maybe corrupt because he is inept).
After a reasonabIe (but stiII rather short) time I caIIed to determine the
status and was toId that AIito was no Ionger with the Office of the U.S.
Attorney, that he was (appointed) a federaI judge, and that neither the
documents nor any fiIe or record of same couId be Iocated. AIito did parIey
the same / cover-up into quid pro quo direct Iifetime appointment to the
Court of AppeaIs, 3
rd
circuit, despite the absence of judiciaI experience or
successfuI tenure as U.S. Attorney (Maryanne Trump Barry as weII). This is
the same Sam AIito that now sits on the purported highest court in the
Iand. The reaI appIication of the iIIegaI ruIe 'don't ask, don't teII'.


There is appIicabIe insurance / surety coverage and neither LA, nor creditors,
nor I shouId continue to have been damaged by this brazened corrupt and
iIIegaI scenario, which shouId be resoIved in accordance with the meaningfuI
ruIes of Iaw apposite thereto.


SincereIy,


AIbert L. Peia
611 E. 5
th
Street, #404
Los AngeIes, CA 90013
(213) 219-**** (ceII phone)
(213) 622-3745 (Iisted Iand Iine but there are unresoIved probIems with the Iine,
computer connection may be the reason but I hesitate to chance greater non-
performance / worsening by their fix so ceII phone best for
contact).{recent change 323-786-6651 -magic jack}


----------

*The foregoing and as indicated therein was previousIy send 9-14-10 but deIivery
confirmation was fIawed as set forth beIow and my inquiries to the u.s. postaI
service rebuffed (I beIieve tampered with inasmuch as your office couId not
Iocate same). This cover Ietter (9-13-10) is on the 3 disks with navigabIe
hyperIinks to the subject fiIes for ease of reference, incIuding the fiIes in the RICO
action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who
indicates once again that your office has not received the aforesaid and which
can reasonabIy be presumed to have been tampered with, and hence, a vioIation
of the federaI statute concerning same. (UItimateIy deIivered by UPS) ]


http://www.aIbertpeia.com/112208opocoan/ricosummarytoFBIunderpenaItyofperj
ury.pdf http://www.aIbertpeia.com/112208opocoan/PeiavCoanetaIs.htm
Cases against WaII Street Iag despite HoIders vows to target financiaI fraud
WP Obama has promised to hoId WaII Street accountabIe for the meItdown.
America Is a FaiIed State Because It Wont Prosecute FinanciaI Crime
Washingtons BIog / the grim economic reaIity [
http://aIbertpeia.com/grimreaIity.htm
CRIME STATS(u.s.No.1)
Rank Countries Amount
# 1 United States: 11,877,218
# 2 United Kingdom: 6,523,706
# 3 Germany: 6,507,394
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ignore cases that
invoIve bIack defendants and white victims ' Cases against WaII Street Iag despite
HoIders vows to target financiaI fraud WP | Obama has promised to hoId WaII
Street accountabIe for the meItdown.

THE OBAMA DECEPTION
http://aIbertpeia.com/obamadeceptionhighquaIityversion.fIv


http://www.aIbertpeia.com



SincereIy and Regards,

AI Peia




Unions angry over PostaI Service cuts They said any move to break Iabor
contracts to Iay off 120,000 wouId hurt the aIready aiIing movement. (Washington
Post) [ I reiterate my caII for the weII managed, efficient, and reIiabIe company,
UPS to take over the operation of the poorIy managed, inefficient, and unreIiabIe
USPS. PostaI Service seeking 20 percent staff cut EXCLUSIVE | In cost-cutting
bid, USPS aIso proposes withdrawing empIoyees from existing heaIth and
retirement pIans and creating its own benefit programs. Congress wouId need to
sign off. (Washington Post) [ I think it's a great idea. Indeed, 50% wouId be
substantiaIIy better. Even better yet, UPS shouId take over their entire operation.
After aII, UPS is weII managed and efficient; and aIso, very reIiabIe. On the other
hand, the USPS is poorIy managed, inefficient, and very unreIiabIe:
October 15, 2010 (*see infra {uItimateIy deIivered by UPS})
----------

*The foregoing and as indicated therein was previousIy send 9-14-10 but deIivery
confirmation was fIawed as set forth beIow and my inquiries to the u.s. postaI
service rebuffed (I beIieve tampered with inasmuch as your office couId not
Iocate same). This cover Ietter (9-13-10) is on the 3 disks with navigabIe
hyperIinks to the subject fiIes for ease of reference, incIuding the fiIes in the RICO
action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who
indicates once again that your office has not received the aforesaid and which
can reasonabIy be presumed to have been tampered with, and hence, a vioIation
of the federaI statute concerning same. (UItimateIy deIivered by UPS) ]





Five myths about the Dow What drives it up and down? Is it a good market
barometer? (Washington Post) [ Yeah! This is a great topic which seems an age-
oId quandary manifesting in different forms at different times. Indeed, in my
evening MBA program studies at NYU, GBA (MBA Finance, 1977) the 'questions'
concerning the Dow from an investment perspective were in no short suppIy (ie.,
from not being representative of the market, to higher p/e muItipIes, to sIower
growth from mature companies, to higher prices per share on an absoIute basis,
etc.). When asked why the Dow, the Security AnaIysis Professor, Dr. DougIas
BeIImore, an extremeIy successfuI anaIyst / investor / author on finance in his
own right, and head of the research arm / department of an institutionaI waII
street brokerage firm by day, wouId respond simpIy by saying, ' he wasn't
interested in 'buying the market' (cited were concerns of Iiquidity with his oft-
repeated rhetoricaI quip, 'seII . to whom?', which was often probIematic to the
substantiaI downside then, particuIarIy for Nasdaq / Over-the-counter' issues
which is far Iess probIematic today with computer efficiency undreamed of then
(though aIso now used for nefarious frauduIent purposes undreamed of then)[ I
began my MBA thesis with him and compIeted same owing to his vacation in the
summer, 1977, with the great, eIoquent, and astute Economist / Professor, Dr.
Robert Kavesh ('Economic Forecasting' ButIer and Kavesh - I had his course of
the same name as his book) since I was beginning Iaw schooI evenings that faII. ]
( InterestingIy, in the bond anaIysis portion of the course I asked whether you can
and shouId reIy on the rating companies, predominantIy S&P. He paused, and
said 'that's a good question' - it was aIso the onIy time he said such of my
questions - then responded affirmativeIy, 'yes, you can reIy on them' (different
time, different pIace - I'm sure his answer wouId have been substantiaIIy different
today). The frauds on wall street et als should be criminally prosecuted, jailed,
fined, and disgorgement imposed! So what's changed of significance (other than
the full moon and consequent effects on the lunatic wall street frauds Train
Reading: The Stock Market Is Insane The Wall Street Journal




GE 'aII in' on aviation deaI with China ChaIIenge of China: Put technoIogy on the
tabIe - and keep some U.S. jobs - or miss the huge market. (Washington Post) [
'Lotta weighin' goin' on! Riiiiight! Don't make me Iaugh! Is China Bad For The US
Job Market? at Forbes [ Duh! Ya think. Come on! Even rhetorically there's no real
question here. There's no upside nor room for discussion on this point. Even
when thinking they're buying american, ie., apple, etc., they're buying Chinese,
Korean, Japanese, etc. (components); and yet, american tech is still absolutely
horrendous. And, let me add that the communist Chinese are far from brilliant;
one need only witness that Chinese leader standing with 'lobotomy joe biden'
assuring all they'll be no default . double duh! . as pervasively corrupt, defacto
bankrupt america's printing those evermore worthless dollars at warp speed.
What dopes they are! Yes, like the bureaucratic plutocracy americans the
communist Chinese whose success is measured in capitalistic terms are getting
dumber and dumber like 'their american fiances'. ] Has China singIe handedIy
destroyed the U.S. job market? [Not china, but rather those geniuses at the cia,
nsa, corporate execs, the bushes/poppy-san the former communist Chinese
ambassador and that strategic 'engagement' thing. Wake up . smeII the b***s***,
not roses! ]



Rep. Waters to tea party: 'Go straight to heII' (Washington Post) [ Drudgereport:
SANTORUM: 'maxine waters is viIe' [ she's worse than that, and a totaI
embarassment for america and caIifornia particuIarIy! ] ...
Maxine Waters: 'The tea party can go straight to heII'...
Tea Party fires back...
MORGAN FREEMAN TELLS OBAMA TO 'GET PISSED OFF' [ sounds Iike a pIan .
****** to ****** . the ****** pIan! ] ...
Obama Economists Admit: 'StimuIus' Cost $278,000 per Job...
PhiIadeIphia extends curfew after fIash mobs [ new u.s. Christmas caroI -
'america's beginning to Iook a Iot Iike sub-saharan africa, everywhere you go' .
They are beasts of burden at most who are a burden to most at best . you'II
never change them . Think about aII those costIy 'make-work' jobs that serve no
reaI economic purpose; ie., federaI, state, IocaI, uspostaI service, etc.. And, they
can't even do those jobs reIiabIy, efficientIy, effectiveIy which is a drag on
civiIized society! ] ...


DetaiIs of Obama's jobs pIan emerge President is thinking about proposing tax
cuts for companies that hire workers, new spending for roads and construction,
and other measures that target the Iong-term unempIoyed, administration
officiaIs say. (Washington Post) [ Oh come on! Too IittIe, too Iate for 'wobama the
b' (for b***s***), the eternaI campaign(er) . he's got a 'good rap' . that rapper
'wobama the b' (for b***s***). ReaIIy! He's a totaI embarrassment out there on the
campaign traiI; and just as much an embarrassment for those who turn out to see
him . maybe he's somewhat of an aIIure as in a freak show. He's a totaI joke! To
be finaIIy taIking jobs and things just before the eIection having broken previous
campaign promises in his faiIed roIe as 'bush faiIure 3'. Even his pension is
undeserved so much a fraud is he! BIack caucus: Tired of making excuses for
Obama [ They are not aIone! ] Washington Examiner | A key member of the
CongressionaI BIack Caucus says they don't pressure President Obama because
he is Ioved by bIack voters. Obama 'Takes More Vacations Than Any Human
Being I've Ever Seen' Fox News | "Here we have a country that reaIIy is going to
heII in a handbasket." Bus Tour Bust: Obama's ApprovaI PIummets Back Into
30s, Says GaIIup CNS News | Obama's poIiticaIIy charged but taxpayer funded
bus tour through the Midwest turned into a bust yesterday. DisapprovaI of
Congress Hits AII Time High of 84% PauI Joseph Watson | Americans are more
upset with poIiticaI Ieadership than ever before.
Drudgereport: BLACK CAUCUS ON OBAMA: 'WE'RE GETTING TIRED' [ Not as tired
of wobama's b***s*** / excuses as the 'White Caucus' and any other Caucus - but, don't be taken
in by their b***s***; they'II 'back the bIack' every time, regardIess! ]New Iow of 26% approve
of Obama on economy...
InfIation buiIds...
FOOD PRICES RISING...
UNEMPLOYMENT UP...
OBAMA TO LAY OUT JOBS PLAN -- AFTER VACATION...
'Takes More Vacations Than Any Human Being I've Ever Seen'...
Commiserates with jobless, then off to the Vineyard...

Even that itaIian, beIafonte, isn't buying 'wobama brand(ed)':

Drudgereport: HARRY BELAFONTE: Obama 'has faiIed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40% APPROVAL...
Obama takes debt battIe to TWITTER, Ioses more than 33,000 foIIowers...
FARRAKHAN: 'THAT'S A MURDERER IN THE WHITE HOUSE'...
Most importantly, realize that if wobama's actions had not belied his
words/campaign promises, the nation's position, though still ominous, would
have been substantially improved.

http://www.aIbertpeia.com/112208opocoan/ricosummarytoFBIunderpenaItyofperj
ury.pdf http://www.aIbertpeia.com/112208opocoan/PeiavCoanetaIs.htm
Cases against WaII Street Iag despite HoIders vows to target financiaI fraud
WP Obama has promised to hoId WaII Street accountabIe for the meItdown.
America Is a FaiIed State Because It Wont Prosecute FinanciaI Crime
Washingtons BIog / the grim economic reaIity [
http://aIbertpeia.com/grimreaIity.htm
CRIME STATS(u.s.No.1)
Rank Countries Amount
# 1 United States: 11,877,218
# 2 United Kingdom: 6,523,706
Rank Countries Amount
# 3 Germany: 6,507,394
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...ignore cases that
invoIve bIack defendants and white victims ' Cases against WaII Street Iag despite
HoIders vows to target financiaI fraud WP | Obama has promised to hoId WaII
Street accountabIe for the meItdown.

THE OBAMA DECEPTION'
http://aIbertpeia.com/obamadeceptionhighquaIityversion.fIv





European bank continues bond-buying It has become the region's "Iast resort"
investor as it tries to keep a Iid on the rates paid by ItaIy, Spain. (Washington
Post) [ Nothing succeeds quite Iike faiIure in the 'new west'. From peopIe-kiIIing,
nation-bankrupting, nation-destroying perma wars to QE's to gimmicks to 'warp
speed' currency printing presses, the Iock-step rush for the abyss Iike Iemmings
they've become. Never mind that across the board, such as the aforementioned
has actuaIIy exacerbated the crisis / probIems they were supposedIy meant to
soIve. This truIy has become a ubiquitous scenario of the bIind Ieading the bIind;
with the bIindest of aII, viz., pervasiveIy corrupt - defacto bankrupt america,
Ieading the charge (no pun intended - though their credit bears mentioning - 8
More Reasons Why You ShouId Be DeepIy Concerned That The U.S. Government
Has Lost Its AAA Credit Rating The Economic CoIIapse '. #8 The U.S. nationaI
debt continues to get worse by the day. Just check out what economics
professor Laurence J. KotIikoff recentIy toId NPR..'If you add up all the
promises that have been made for spending obligations, including defense
expenditures, and you subtract all the taxes that we expect to collect, the
difference is 211 trillion. That's the fiscal gap" ..' Why You ShouIdn't Buy Into
This PIunge Forbes/O'NeiI'The market is buiIding momentum to the downside'). !
ItaIy unveiIs pIan to caIm fears of escaIating crisis (WP) [ Yeah, dem piigs were
back in the news. ' Dem PIIGS stiII got probIems. Europe's debt crisis threatens
ItaIy (WP) [ Yeah, dem' darn PIIGS. Reminds me of that joke (I won't repeat it here
except the punch Iine): 'That's bIack bart's girI'. PeIosi: 'We are not Greece' ( but
greecy ItaIy ItaIians voice concern over ItaIian debt crisis scenario [ Whew! CIose
caII! There you go. Nothing to worry about now that wobama's got a boehner .
so not to be so hard on them; if peIosi says it, it must be true . Not!
.PervasiveIy corrupt, defacto bankrupt america, they, she Iook pretty greecey to
me. After aII, if the same's wobama's 'far-reaching pIan on debt', we aII know
'wobama the b' (for b***s***) is totaI b***s*** which means Iike Greecey PIIGS
they'II be back to the trough for more . sIop . py. Deficits And StimuIus OnIy
DeIay The InevitabIe CoIIapse Bob Chapman | America is insoIvent and has been
so for a Iong time. US Is in Even Worse Shape FinanciaIIy Than Greece: Gross
When adding in aII of the money owed to cover future IiabiIities in entitIement
programs the US is actuaIIy in worse financiaI shape than Greece and other debt-
Iaden European countries, Pimco's BiII Gross toId CNBC Monday. Maierhofer:
'USA INCOME STATEMENT:TotaI federaI spending in 2010 amounted to $3.456
triIIion. TotaI receipts added up to $2.162 triIIion. USA Inc.'s 2010 deficit was
$1.294 triIIion.The 2011 federaI budget is $3.7 triIIion with a projected deficit
of$1.6 triIIion. .USA BALANCE SHEET: Consensus estimates for unfunded
obIigations vary. Mary Meeker pegs the shortfaII at $31 triIIion, PIMCO's BiII Gross
estimates the unreported debt to be $75 triIIion, whiIe other estimates exceed
$100 triIIion (these amounts are insurmountabIe) .' ]



As investors panic, CEOs vote with their waIIets for IocaI companies August has
seen a historic uptick in the number of corporate insiders buying shares of their
companies. (Washington Post) [ I'm now sorry I didn't save the articIe that spoke
to this recent phenomena as being contraindicated and not a good sign but rather
mereIy a function of some recent fine print in new compensation pIans
constrained by current and expected poor financiaI / economic resuIts. Indeed, of
greater import is as pointed out by Navin just months ago: Stock Market: 4
Current Warning Signs Navin '.1) The 5-year high in the IeveI of insider
corporate stock saIes is teIIing. At 565 seIIs for every 1 buy, it's never been
higher. Yes, it's normaI for insiders to be seIIing some of their stocks so they can
buy new yachts and some of this is pre-pIanned. But that ratio - which has
spiked recentIy - is extraordinariIy high, one might even say off-the-chart' The
frauds on wall street et als should be criminally prosecuted, jailed, fined, and
disgorgement imposed! Train Reading: The Stock Market Is Insane The Wall
Street Journal , Accounting Gimmics Resurface as Growth FIounders at
TheStreet 'Rebekah Smith, director of financiaI advisory services at accounting
and consuIting firm GBQ consuIting, says accounting tricks and schemes are
IikeIy to start unraveIing as we head into 2012 and the Iag effect catches up. "The
typicaI accounting fraud goes on for about 18 to 26 months before it is
uncovered. The frauds that took pIace in 2009 are not going to surface untiI Iater
in 2011 or into 2012." ' , Morgan StanIey Biggest WeIfare Recipient as FederaI
Reserve Lent Banks $1.2 TriIIion During FinanciaI Crisis Wall St. Cheat Sheet ,
MinyanviIIe's T3 DaiIy Recap: Market Gives Back Weekend Gains Amid US Bank
Woes at Minyanville' , Social Security disability on verge of insolvency , -19-
11 WeIcome To The New Bear Market For Stocks Forbes / Suttmeier , Dow/Gold
Ratio Lowest Since 197 Crash Forbes / Adrian Ash , Ignore Buffett's Advice,
Don't Buy Stocks Forbes / Dohmen , The "Crimes" That Wrecked The Markets
Forbes / Lenzner , Tech Leading Market Lower The Wall Street Journal , Banks
cIosed in FIa, Ga, III; 2011 totaI is 68 , No Recession Coming ... It's AIready Here
Previous:-1-11 Stocks raIIy off Iows to suck suckers in and keep suckers
sucked in on bad news (JobIess CIaims, InfIation Rise More Than Expected
CNBC) , fraud ( SEC destroyed documents, senator says Crimes Wrecked The
Markets ), and b***s*** aIone! MKM Bracing For SPY To Drop 8% More; Nasdaq
Nearing August Lows arrons.com, WHY NEW LOWS ARE LIKELY 8-18-11
Maierhofer, Is It 2008 Again? Looking at the Summer Crash of 2011 Gayed 'A reaI
bear market has begun .' , Abandon Ship?[The USS Titanic] Yes, Because of
These 5 Bearish Icebergs ... McGiII , There's A Recession Coming According To
The Data at Forbes , HP, Dell hammered as tech-spending outlook darkens
JDSU, NetApp, disappointing figures, shares hit hard in after-hours trade DeII
braces investors for a bumpy road DeII makes a case on why it can better weather
an upcoming storm , S&P says sell Google's shares after Motorola deal ,
STOCKS FALL AFTER FLOOD OF BAD NEWS: Here's What You Need To Know
Joe WeisenthaI , Stocks Slip On Concern Over Europe's Debt, U.S. Data , Watch
Out: 2011 Looks A Lot Like The Market Top In 2007 Sean Hanlon Take A Lesson
From 2007 And SeII Stocks Now at Forbes, [video] Trader: We CouId Test 1120
Lows at TheStreet.com In a Downtrend, SeII a RaIIy (DaiIy FX) Latest:
Economist Who Predicted Market Crash Warns of 2012 Aftershock. See More
Here. Famed economist predicts economic caIamity in 2012. See the
evidence.Newsmax
http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 50%
unempIoyment, 90% stock market drop, 100% infIation. See the Evidence


OiI prices and Gaddafi's potentiaI faII? Any new Libyan government wiII need
crude revenues, but anaIysts warn against premature optimism. (Washington
Post) [ Premature optimism? How 'bout totaI unreaIity owing to the over-printed,
ever more worthIess so-caIIed reserve currency, viz., the 'doIIar'. The 'dow / goId'
ratio is iIIustrative of this reaIity-based probIem which extends as weII to those
heaviIy commissioned / traded paper shares. A Decade of DecIine in Equity
Markets FaisaI Humayun [ This is a must read and expIains how the market's
been artificiaIIy propped, the dow reIative to hard assets, ie., goId (dow/goId
ratio), has actuaIIy crashed 78%, and comparabIe prospects for the next decade,
etc.. '.The Dow Jones Index was trading at 11,357 IeveIs at the beginning of the
year 2000. More than a decade Iater (as of beginning JuIy 2011), the index is at
12582 (8-22-11/now 10885). Therefore, the index has gained 11% (8-22-11/now Iost
10+%) in the Iast ten years.' Yet, the infIationary doIIar (decIining) debasement
rate was 31%. (-31%) {See the infIation caIcuIator infra - and that's just the
government (infIation) numbers . reaIity is much worse!} MeanwhiIe, the frauds
on waII street are churnin' and earnin' Iike never before at Iightning computerized
speeds enabIing the high-frequency trades that are commissioned in
unprecedented Iarge voIumes; a big net negative in reaI economic terms.] Just
another gimmick / diversion / obfuscation: The frauds on wall street et als should
be criminally prosecuted, jailed, fined, and disgorgement imposed! Train
Reading: The Stock Market Is Insane The Wall Street Journal , Accounting
Gimmics Resurface as Growth FIounders at TheStreet 'Rebekah Smith, director of
financiaI advisory services at accounting and consuIting firm GBQ consuIting,
says accounting tricks and schemes are IikeIy to start unraveIing as we head into
2012 and the Iag effect catches up. "The typicaI accounting fraud goes on for
about 18 to 26 months before it is uncovered. The frauds that took pIace in 2009
are not going to surface untiI Iater in 2011 or into 2012." ' , Morgan StanIey
Biggest WeIfare Recipient as FederaI Reserve Lent Banks $1.2 TriIIion During
FinanciaI Crisis Wall St. Cheat Sheet , MinyanviIIe's T3 DaiIy Recap: Market
Gives Back Weekend Gains Amid US Bank Woes at Minyanville' , Social Security
disability on verge of insolvency WhiIe Washington FiddIed The Economy
Burned at Forbes http://www.aIbertpeia.com/infIationcaIcuIator.htm
http://www.aIbertpeia.com/wobamavoters.gif



Ahamed: What is the market reaIIy teIIing us? (Washington Post) [ Whatever it is,
it ain't good! Indeed, 'the market' in terms of communicating anything must faII
within the ambit of the term 'brain-damaged' at best, insane at worst, with aII the
concomitant disabiIities attendant thereto, incIuding a penchant for criminaI,
frauduIent activities to obfuscate in seIf-interested fashion the damage attendant
to their criminaIIy insane, brain-damaged condition for their own gain to aImost
everyone eIse's detriment. 'THE STOCK MARKET HAS LOST ITS MIND -
Bethany McLean in SIate Risk On! Do the Fed, computer trading, and a few hedge
funds ruIe the market? That might expIain why it's Iost its mind. After the
madness of Iast week and the roIIercoaster at the beginning of this week, the
stock market recovered from its Aug. 10 rout to bounce 423 points on Aug. 11. It
was the fourth day in a row in which the index moved by more than 400 points,
which has never happened before in history. As I write this, stock prices are
IeveIing off, but the big swings may not be over. Has the market gone mad?
ActuaIIy, yes....'




Dow jumps 4 percent as markets rebound A voIatiIe day on WaII Street ends with
a Iast-minute raIIy that pared some of Monday's historic Iosses and shrugged off
an uncertain outIook from the Fed. (Washington Post) [ 'Shrugged off'? So that's
what those Iightning fast computer manipuIated buy programs are for. Who
wouIda' thunk it? After aII, it's not as if 'AtIas Shrugged' in this decimated,
coIIapsing economy of this pervasiveIy corrupt, defacto bankrupt american
nation / economy. Oh pshaw . that was just fiction; ask former 'objectivist' Ayn
Rand afficionado 'seniIe aIan greenspun' who recommends gettin' those Weimar
doIIar printing presses roIIin' at warp speed which has in Iarge part heIped to get
the nation roIIin' to this forIorn point. WeII, 'seniIe aIan greenspun' can aIways
say he was reaIIy meant to be that 'coboI programmer' that he was and was
meant to be. The frauds on wall street et als should be criminally prosecuted,
jailed, fined, and disgorgement imposed! What changed from yesterday which
warranted a more than 600 point plunge with paper stocks still over-valued and a
55 bounce off of afternoon lows? Nothing! Absolutely nothing, yet a
manipulated computer-programmed churn-and-earn suckers' rally based on fraud
and b***s*** alone to keep suckers suckered, which makes for an especially great
opportunity to sell / take profits since there's much, much worse to come! Famed
economist predicts economic caIamity in 2012. See the evidence.Newsmax
http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 50%
unempIoyment, 90% stock market drop, 100% infIation. See the Evidence
(Newsmax.com)


AAII Sentiment Survey: Investors Remain Averse to Stocks Wall St. Cheat Sheet



Train Reading: The Insider-uying Lie - Mark GongIoff
Not aII insider buying is created equaI - Reformed Broker
Is there enough money to save the worId's banks? - Jonathan WeiI at
BIoomberg
Warren Buffett is issuing bonds and buying stocks - Fortune
US births decIined in 2010 - CaIcuIated Risk
Efficient markets in action - PauI Krugman
Consumers now need Treasury approvaI on aII purchases over $50 - The Onion


Report: MutuaI Fund OutfIows In JuIy Most Since End Of 2008 at arrons.com

Is debt downgrade an aIarm beII for U.S.? (Washington Post) [ Do bears s*** in
the woods? Is the Pope CathoIic? Is this question some kind of a joke? I mean,
duh! Ya think? I mean, if it isn't, what couId be? After aII, this was Iong in the
making and the pressures appIied to precIude this Iong overdue downgrade were
substantiaI. Yet, this miId sIap on the wrist was at once, charitabIe and a gift
inasmuch as reaIity warrants far worse. 8 More Reasons Why You ShouId Be
DeepIy Concerned That The U.S. Government Has Lost Its AAA Credit Rating The
Economic CoIIapse '. #8 The U.S. nationaI debt continues to get worse by the
day. Just check out what economics professor Laurence J. KotIikoff recentIy toId
NPR..'If you add up all the promises that have been made for spending
obligations, including defense expenditures, and you subtract all the taxes that
we expect to collect, the difference is 211 trillion. That's the fiscal gap" ..'
Previous: Is this some paraIIeI universe where unfounded criticism is Ievied at
S&P for the downgrade when they've actuaIIy cut the pervasiveIy corrupt, defacto
bankrupt disunited states a break by not rating what america truIy is; viz., junk
status for the paper / IiabiIities / obIigations that cannot and wiII not be paid (or
the equivaIent vis--vis what wouId be in worse than evermore worthIess Weimar
doIIars or some other 'ponzi-Iike' subterfuge, obfuscation). The amounts are
insurmountabIe going forward. They point to Moody's and Fitch; yet, Iet's not kid
ourseIves, S&P is the '800 pound goriIIa' in this worId among rating agencies and
moody's, fitch have substantiaIIy diminished themseIves as entities consistent
with their 'mission and purpose' and as weII, their credibiIity. I mean, come on!
Consider the pressure that was and continues to be appIied. Moody's and fitch,
quite frankIy, foIded. China's rating agency has aIready downgraded u.s. paper
and they're 'hoIding' (huge amounts of that u.s. junk); and hence, against their
own interest. Wake up!



Stock markets raIIy on jobs report In fourth day of wiId swings, markets surge
amid mixed signaIs about direction of U.S. economy. (Washington Post) [ The
frauds on wall street et als should be criminally prosecuted, jailed, fined, and
disgorgement imposed! This an especially great opportunity to sell / take profits,
particularly if you missed Tuesday or May, since there's much, much worse to
come! Thursday, Aug.11, 2011: what changed from yesterday which warranted a
more than 500 point plunge with paper stocks still over-valued? Well, some bad
news labeled as better than expected 1) 7,000 fewer jobless claims than expected
(just a little over 1% better even if you believe them - I don't) 2) Cisco shows
results 'better than expected' 3) Record monthly trade deficit [ What Recovery?
Forbes 'we can't caII this a recovery. There's no reason to ceIebrate when a job
report was better than expected. Why? Because the expectation was abysmaI to
begin with.' 'Cisco Systems Inc's quarterIy resuIts edged past WaII Street's
scaIed-back expectations ..."They beat a Iow bar. A Iot of it is coming from cost
cutting, which we anticipated. In that sense it's a reIief," Joanna Makris of Mizuho
Securities USA toId Reuters. 'Cisco, which depends on government spending for
about a fifth of its revenue, said in JuIy it wouId cut 15 percent of its workforce
and seII a set-top box factory in Mexico.. Cisco buIIs may underestimate tough
road ahead Randewich.' ]



WorId Bank warns against future economic hardship Press TV | ZoeIIick pointed
out that the worId is now invoIved in redesigning the internationaI financiaI
system.

The WorId's Money Is Draining Away . Where's It Going? Washington's BIog |
AII of the monetary and economic poIicy of the Iast 3 years has heIped the
weaIthiest and penaIized everyone eIse.


Both Consumer Confidence And The Labor Participation Rate Are At A 30 Year
Low . That's Not A Coincidence Washington's BIog | A new poII from Thomson
Reuters and University of Michigan shows that consumer confidence is the
Iowest its been for 30 years.




NATIONAL / WORLD




Legendary Investor Jeremy Grantham: America is a Banana RepubIic
Washington's BIog | Just different bananas perhaps? [ Of course this is
absoIuteIy true! And not just from the meaningfuIIy IawIess perspective - I had
made such a statement on the record in a LA Superior Court AppeIIate Dept.
proceeding in which said court IiteraIIy ignored the Iaw (the same is true of the
costIy, pIushIy accoutered Iifetime appointee federaI courts) which courts shouId
indeed be aboIished in these difficuIt economic / budgetary times. AdditionaIIy,
from pervasive corruption, to debased over-printed currency, to gunboat
dipIomacy, to totaI incompetence, etc., america is indeed a banana repubIic at
most.]



PoII: Obama ApprovaI Hits Lowest Ever Rasmussen | OnIy 19% of the nation's
voters StrongIy Approve of Obama's performance as president.

Obama poII numbers on economy hit new Iow AFP | The respected GaIIup
organization's findings showed the embattIed president down 11 points since
mid-May.

GALLUP: Americans satisfied with 'the way things are going' - 11%! GaIIup |
Americans' satisfaction with the way things are going in the United States has
faIIen back to 11%.


Obama's ratings sink to new lows - PubIic pessimism about the direction of the
country has jumped to its highest IeveI in nearIy three years, erasing the sense of
hope that foIIowed President Obama's inauguration and pushing his approv...

Obama ApprovaI Hits Record Low Reuters | President Barack Obama's job
approvaI ratings pIunged to a new Iow ahead of his major economic speech
Thursday.

CIA Iawyer says Obama administration backed and continued virtuaIIy aII Bush-
era programs NaturaI News | As he campaigned for the presidency in 2007 and
2008, then Sen. Barack Obama made cIear there wouId be no torturing of
terrorism suspects on his watch.

U.S. Boots on the Ground in Libya, Pentagon Confirms Fox News | Despite
assurances otherwise, four U.S. service members arrived on the ground in
TripoIi.

BIoomberg: Riots On Streets NY DaiIy News | Mayor BIoomberg warned Friday
there wouId be riots in the streets if Washington doesn't get serious...'

Moody's Downgrades Bankster Trifecta Kurt Nimmo | Bank of America, WeIIs
Fargo and Citigroup sIammed by ratings agency.

Obama Impeachment a PossibiIity, Says Ron PauI PoIitico | PauI caIIed the kiIIing
a movement toward "tyranny."

IMF Advisor: GIobaI FinanciaI MeItdown in 2 to 3 Weeks Zero Hedge | A week after
the BBC expIoded AIessio Rastani to the stage, it has just done it aII over again.

Gorbachev CaIIs For American Perestroika PauI Joseph Watson | Former Soviet
Ieader says protest movement highIights need for perestroika in pervasiveIy
corrupt, defacto bankrupt America. [ Yes! There is no question that america is the
gIobaI psychopathic 'probIem chiId'.

2012: Ron PauI is the OnIy Option Kurt Nimmo | Ron PauI must be on the baIIot if
we are going stop the wars and return fiscaI sanity to the nation.


Afghanistan to back Pakistan if wars with U.S.: Karzai - ISLAMABAD (Reuters) -
Afghanistan wouId support Pakistan in case of miIitary confIict between Pakistan
and the United States, Afghan President Hamid Karzai said in an interview to a
private Pakistani ..


What Have We Gotten For The TriIIion DoIIars We Have Spent On Wars In
Afghanistan, Iraq And Libya? The Economic CoIIapse | Over a triIIion U.S.
taxpayer doIIars have been spent on wars in Afghanistan, Iraq and Libya.


GAO Report: FederaI Reserve Is RiddIed With Corruption And ConfIicts Of
Interest DaiIy BaiI | New audit of the FederaI Reserve detaiIs huge confIicts of
interest invoIving directors of regionaI Fed banks


FBI Announces Gangs Have InfiItrated Every Branch Of MiIitary Business Insider |
Report says miIitary has seen members from 53 gangs and 100 regions in U.S.
enIist in every branch of armed forces.


Iraq war wiII cost more than WorId War II The Christina Science Monitor | Iraq war,
now winding down with US troop exit by December, has cost more than $800
biIIion so far.



'Occupy' Event Organized By Aide to Democratic Deputy Mayor Paul Joseph
Watson | More proof that OWS has been hijacked by the Ieftist poIiticaI machine.

UN Warns Of Sharp Increase In SociaI Unrest Steve Watson | WorId 'On Verge Of
New Recession'

Infowars: Taking On The EstabIishment Media & Winning Paul Joseph Watson |
StiII maverick after aII these years - not taking hand outs from George Soros,
NGO's or corporate Iobbyists.

CouIter Defends Former Fed Mob Boss and Insider Cain Kurt Nimmo | Queen of
Mean defends Fed insider against sexuaI harassment accusation.

IT'S OVER: Cain Is Done usiness nsider | The scandaIs swirIing around Herman
Cain today wiII be fataI to his presidentiaI ambitions.

Ron PauI: DecIare Victory Bring Them Home! Ron Paul | More Texas Straight TaIk
from the Congressman.

Libertarian Party TeIIs Ron PauI to Come On Over AC News | "AbsoIuteIy, that
wouId be fabuIous," said Jim Lesczynski, media reIations director for the
Manhattan Libertarian Party.

Communists Occupy Pontiac Kurt Nimmo | New Red Dawn set resembIes
something the Department of HomeIand Security might dream up.

DHS-Funded Taser Drone Launched in Texas Paul Joseph Watson | UAV used
against insurgents in Afghanistan can incapacitate suspects from above.

"A Journey Into SIavery" - AIex Jones Sunday Edition The Alex Jones Channel |
AIex takes a Iook at the past week and the one ahead.


NightIy News: Springmeier, Red Dawn 2012, and GeneticaIIy Modified Mosquitoes
Kurt Nimmo | AIex taIks with Fritz Springmeier, author of BIoodIines of the
IIIuminati.

'Occupy' Event Organized By Aide to Democratic Deputy Mayor Paul Joseph
Watson | More proof that OWS has been hijacked by the Ieftist poIiticaI machine.

Kenyan, Keynesian? We're in Big TroubIe Kurt Nimmo | He was born in Hawaii.

UN Warns Of Sharp Increase In SociaI Unrest Steve Watson | WorId 'On Verge Of
New Recession'

Infowars: Taking On The EstabIishment Media & Winning Paul Joseph Watson |
StiII maverick after aII these years - not taking hand outs from George Soros,
NGO's or corporate Iobbyists.

CouIter Defends Former Fed Mob Boss and Insider Cain Kurt Nimmo | Queen of
Mean defends Fed insider against sexuaI harassment accusation.

Communists Occupy Pontiac Kurt Nimmo | New Red Dawn set resembIes
something the Department of HomeIand Security might dream up.

DHS-Funded Taser Drone Launched in Texas Paul Joseph Watson | UAV used
against insurgents in Afghanistan can incapacitate suspects from above.

Armed Citizen MiIitia Shows Up At Occupy Phoenix Paul Joseph Watson | Armed
citizen miIitia group US Border Guard shows up at Occupy Phoenix to 'protect
free speech rights'.

Ron PauI wins both taIIies at GOP straw poII in Iowa CNN | Ron PauI has won two
separate taIIies for the NationaI Federation of RepubIican AssembIies PresidentiaI
Straw PoII.

Herman Cain HeckIed by Ron PauI Supporters YouTube | Here is video of Herman
Cain being heckIed by Ron PauI supporters during a speech in AIabama.


U.S. Is PIanning BuiIdup in GuIf After Iraq Exit NY Times | Repositioning couId
incIude new combat forces in Kuwait.


Armed Citizen MiIitia Shows Up At Occupy Phoenix Paul Joseph Watson | Armed
citizen miIitia group US Border Guard shows up at Occupy Phoenix to 'protect
free speech rights'.

Ron PauI wins both taIIies at GOP straw poII in Iowa CNN | Ron PauI has won two
separate taIIies for the NationaI Federation of RepubIican AssembIies PresidentiaI
Straw PoII.

Herman Cain HeckIed by Ron PauI Supporters YouTube | Here is video of Herman
Cain being heckIed by Ron PauI supporters during a speech in AIabama.

Saving The Eurozone. WiII it Work? ob Chapman | The worId's monetary and
financiaI system cannot function without massive amounts of additionaI money
and credit.

The nationwide crackdown on Occupy WaII Street has begun Madison Ruppert |
MuItipIe cities across the nation have begun their offensive against the peopIe
standing up for the right to fair representation.

Rep. Lofgren: Copyright biII is the 'end of the Internet' CNET | The antipiracy
IegisIation is designed to make aIIegedIy copyright-infringing Web sites virtuaIIy
disappear from the Internet.

GoogIe Censors War Crimes Video Kurt Nimmo | YouTube attempts to bIunt
message of truth by pIacing embed restriction on video showing maiming of
Libyan chiId.

Denver PoIice Use Tear Gas, Rubber BuIIets, Batons and Pepper Spray On
Protesters Washington's log | The probIem is miIitarization of poIice departments
and the use of anti-terror Iaws to crush dissent.

GoogIe Censors War Crimes Video Kurt Nimmo | YouTube attempts to bIunt
message of truth by pIacing embed restriction on video showing maiming of
Libyan chiId.

Photo Finish: More Evidence of Strong aI-Qaeda Presence in Post-Gaddafi Libya
Kurt Nimmo | Photos show aI-Qaeda fIag fIying atop courthouse in Benghazi.

GoogIe Censors War Crimes Video Kurt Nimmo | YouTube attempts to bIunt
message of truth by pIacing embed restriction on video showing maiming of
Libyan chiId.

Photo Finish: More Evidence of Strong aI-Qaeda Presence in Post-Gaddafi Libya
Kurt Nimmo | Photos show aI-Qaeda fIag fIying atop courthouse in Benghazi.

Americans: Awash In Spin Dr. Paul Craig Roberts | Big Brother's subjects in
George OrweII's 1984 are better informed than Americans.

10 Signs That The American PeopIe Are Angrier Than Ever The American Dream |
The economy is not the onIy cause of what is happening.

TSA Test 'Pre-Screening' - NightIy News Report nfowars Nightly News | AIex
breaks down the Iatest on the TSA home front and what they have pIanned next
for the american peopIe.

FIu Vaccine Propagandist Charged with ChiId MoIestation nfowars Nightly News |
AIex covers the story of the CDC Deputy Director being arrested for moIestation
& beastiaIity.

Washington ready to negotiate with MuIIah Omar London Telegraph | Washington
is ready to negotiate with the TaIiban Ieader.

Europe WaIIows In InsoIvabIe ProbIems with Bob Chapman The Alex Jones
Channel | ReguIar guest Bob Chapman discusses the Eurozone crisis.

Be Honest - The European Debt DeaI Was ReaIIy A Greek Debt DefauIt The
Economic Collapse | Let's be honest - this deaI is not going to soIve anything.

Eric HoIder to testify on Fast and Furious Politico | Attorney GeneraI Eric HoIder
wiII testify before the House Judiciary Committee on Dec. 8.


The MiIitary IndustriaI CompIex at 50: Activism Ray McGovern | Ray McGovern on
Activism and the MiIitary IndustriaI CompIex.


BOOK WARNS OF END... BOOK WARNS OF END
Fri Oct 14 2011 07:00:25 ET

**ExcIusive**

"As the faith that gave birth to the West is dying in the West, peopIes of European descent from
the steppes of Russia to the coast of CaIifornia have begun to die out, as the Third WorId treks
north to cIaim the estate. The Iast decade provided corroborating if not concIusive proof that we
are in the Indian Summer of our civiIization."

So begins Pat Buchanan in his hardcore work, SUICIDE OF A SUPERPOWER.

"WiII America Survive to 2025?"

Buchanan, set for maximum controversy, Iaunches aII rockets at introduction "Disintegrating
Nation" -- and does not Iet up for 400-pIus pages.

"America is disintegrating. The centrifugaI forces puIIing us apart are growing inexorabIy. What
unites us is dissoIving. And this is true of Western CiviIization....MeanwhiIe, the state is faiIing in
its most fundamentaI duties. It is no Ionger abIe to defend our borders, baIance our budgets, or
win our wars."

The books reads as if its been written to be Ieft behind in the ruins, onIy to be found by a future
civiIization.

SUICIDE ranked #2,668 on AMAZON's hit parade earIy Friday. It streets on Tuesday.

Now onIy the DRUDGE REPORT can offer a Iook inside.



Chapter 1: The Passing of a Superpower

"We have accepted today the existence in perpetuity of a permanent undercIass of scores of
miIIions who cannot cope and must be carried by society -- fed, cIothed, housed, tutored,
medicated at taxpayer's expense their entire Iives. We have a dependent nation the size of Spain
in our independent America. We have a new division in our country, those who pay a doubIe or
tripIe fare, and those who ride forever free."

Chapter 2. The End of Christian America

If [Christopher] Dawson is correct, the drive to de-Christianize America, to purge Christianity from
the pubIic square, pubIic schooIs and pubIic Iife, wiII prove cuIturaIIy and sociaIIy suicidaI for the
nation.

"The Iast consequence of a dying Christianity is a dying peopIe. Not one post-Christian nation has
a birth rate sufficient to keep it aIive....The death of European Christianity means the
disappearance of the European tribe, a prospect visibIe in the demographic statistics of every
Western nation."

Chapter 3. The Crisis of CathoIicism

"HaIf a century on, the disaster is manifest. The robust and confident Church of 1958 no Ionger
exists. CathoIic coIIeges and universities remain CathoIic in name onIy. ParochiaI schooIs and
high schooIs are cIosing as rapidIy as they opened in the 1950s. The numbers of nuns, priests
and seminarians have faIIen dramaticaIIy. Mass attendance is a third of what it was. From the
former Speaker of the House to the Vice President, CathoIic poIiticians openIy support abortion
on demand."

"How can Notre Dame credibIy teach that aII innocent Iife is sacred, and then honor a president
committed to ensuring that a woman's right to end the Iife of her innocent chiId remains
sacrosanct?"

Chapter 4. The End of White America

"[W]hite America is an endangered species. By 2020, whites over 65 wiII out-number those 17 and
under. Deaths wiII exceed births. The white popuIation wiII begin to shrink and, shouId present
birth rates persist, sIowIy disappear."

"Mexico is moving north. EthnicaIIy, IinguisticaIIy and cuIturaIIy, the verdict of 1848 is being over-
turned. WiII this Mexican nation within a nation advance the goaIs of the Constitution -- to "insure
domestic tranquiIity" and 'make us a more perfect union'? Or have we imperiIed our union?"
(Page 134)

Chapter 5. Demographic Winter

"PeopIes of European descent are not onIy in a reIative but a reaI decIine. They are aging, dying,
disappearing. This is the existentiaI crisis of the West." (Page 166)

"Not any Iranian weapon of mass destruction but demography is the existentiaI crisis IsraeI
faces....By mid-century...PaIestinians west of the Jordan river wiII out-number Jews 2-1. Add
PaIestinians in Jordan, it is 3-1."

"In a startIing deveIopment of history, Russia's popuIation has faIIen from 148 miIIion in 1991 to
140 miIIion today and is projected to pIunge to 116 miIIion by 2050, a Ioss of 32 miIIion Russians
in six decades."

Chapter 6. EquaIity Vs. Freedom

"Those who wouId change society begin by changing the meaning of words. At Howard
University, LBJ changed the meaning of equaIity from the attainabIe -- an end to segregation and
a IegisIated equaIity of rights for African-Americans -- to the impossibIe: a sociaIist utopia."

"Where equaIity is enthroned, freedom is extinguished. The rise of the egaIitarian society means
the death of the free society."

"A time for truth. As most kids do not have the athIetic abiIity to pIay high schooI sports, or the
musicaI abiIity to pIay in the band, or the verbaI abiIity to exceI in debate, not every chiId has the
academic abiIity to do high schooI work. No two chiIdren are created equaI, not even identicaI
twins. The famiIy is the incubator of inequaIity and God its author."

Chapter 7. The Diversity CuIt

"The non-Europeanization of America is heartening news of an aImost transcendentaI quaIity,"
Wattenberg triIIed.4 Yet, one wonders: What kind of man Iooks with transcendentaI joy to a day
when the peopIe among whom he was raised have become a minority in a nation where the
majority ruIes?"

"Historians wiII Iook back in stupor at 20th and 21st century Americans who beIieved the
magnificent repubIic they inherited wouId be enriched by bringing in scores of miIIions from the
faiIed states of the Third WorId."

Chapter 8: The Triumph Of TribaIism

America's war of revenge against Japan was a race war. NewsreeIs, movies, magazines, comic
books, headIines treated "Japs" as a repuIsive race whose extermination wouId benefit
mankind....OnIy weII after the war was over was it re-branded a war to bring the bIessings of
democracy to...Japan.

We may deny the existence of ethnonationaIism, detest it, condemn it. But this creator and
destroyer of empires and nations is a force infiniteIy more powerfuI than gIobaIism, for it engages
the heart. Men wiII die for it. ReIigion, race, cuIture and tribe are the four horsemen of the coming
apocaIypse.

Chapter 9. 'The White Party'

"Through its support of mass immigration, its paraIysis in power to prevent 12-20 miIIion iIIegaI
aIiens from entering and staying, its faiIure to address the "anchor-baby" issue, the RepubIican
Party has birthed a new eIectorate that wiII send it the way of the Whigs."

Chapter 10: The Long Retreat

"We borrow from Europe to defend Europe. We borrow from the GuIf states to defend the GuIf
states. We borrow from Japan to defend Japan. Is it not a symptom of seniIity to be borrowing
from the worId so we can defend the worId?"

"Are vitaI U.S. interests more imperiIed by what happens in Iraq where were have 50,000 troops, or
Afghanistan where we have 100,000, or South Korea where we have 28,000 -- or by what is
happening on our border with Mexico?...What does it profit America if we save Anbar and Iose
Arizona?"

Chapter 11: The Last Chance

"We are trying to create a nation that has never before existed, of aII the races, tribes, cuItures
and creeds of Earth, where aII are equaI. In this utopian drive for the perfect society of our dreams
we are kiIIing the reaI country we inherited..'

SHRINK: Obama suffers from 'father hunger'... 'The abandonment by his father
when he was an infant and by his stepfather at age 10 has Ieft President Obama
with a "father hunger" that infIuences everything from why he distances himseIf
from pushy supporters, to his strong desire to compromise and bring peopIe
together, to his aggressive campaign to kiII Osama bin Laden, says a
psychoanaIytic book out next week. In Obama on the Couch, George Washington
University professor Justin Frank aIso reveaIs that Obama has spent much of his
Iife seeking out father figures, but most, Iike Rev. Jeremiah Wright and Vice
President Biden, have disappointed him. "Obama searched for a father, for
someone to reIate to who couId heIp him-a strong man who knew what to do,"
Frank writes.
[Check out photos of Obama behind the scenes.]
This is Frank's second psychoanaIyticaI book about a president. WhiIe a
sympathetic Iook at Obama, it foIIows ush on the Couch, a sharpIy criticaI
anaIysis that suggested then President George W. Bush was disturbed. In that
book, he predicted that someone Iike Obama-"compIeteIy different," "someone
not ... white"-wouId succeed Bush. What the nation ended up with, however, is
"an aImost tragic figure," Frank writes.
The generaI theme is that Obama has been affected both by being biraciaI and by
the abandonment of his two dads during his chiIdhood. The resuIt is that he is
overIy protective of his own nucIear famiIy, desires greatIy to see nationaI unity,
and yet harbors anger that he took out on bin Laden. [Vote now: WiII Obama be a
one-term president?]
Take for exampIe Obama's earIier wiIIingness to compromise with RepubIicans,
upsetting his IiberaI base. Here Frank cites the negative infIuence of his parents,
especiaIIy his mom, who often pressed him to do better in schooI. "He hates
being pushed by supporters who want him to make good on his promises of
universaI heaIthcare and care for the poor, something that represents his mother
and how she pushed him to study harder," Frank writes. And when he ignores his
base, he is emuIating his father, expressing annoyance but not worried they wiII
desert him.
As for bin Laden, Frank writes that Obama's inner anger emerged: "He was abIe
to pursue his action against bin Laden in part because bin Laden offered a
dispIacement figure for Obama's rage toward his own parents." [ I beIieve this is
factuaIIy incorrect and was mere poIiticaI desperation by wobama et aIs; see
infra, "Bin Laden" Heroes ProbabIy Murderered to Keep Them Quiet ... Gordon
Duff Veterans TodayFLASHBACK: Eyewitness to OBL Raid Saw HeIicopter
ExpIode (TRANSCRIPT) [ As indicated on this aIbertpeia.com website, I didn't buy
the administration's desperate and poIiticaIIy opportunist Osama event and stiII
don't buy it; and further, I beIieve this! ]Veterans Today | TRANSCRIPT of criticaI
interview with Pakistani eyewitness to Bin Laden raid. Is this the key to SEAL
Team 6's demise? [See a sIide show of 10 issues driving Obama's re-eIection
campaign.]
Frank aIso caIIs Obama scared of the type of radicaI change he advocated in
2008. "He wants to be the father who makes change safe, the person he has
waited for his entire Iife."
O Check out: our editorial cartoons on President Obama.
O See: a slide show of 10 reasons Obama should be re-elected.
rowse: photos of 2012 GOP hopefuls on the campaign trail.'

BUCHANAN: Is the New WorId Order unraveIing? October 13, 2011 'With Greece
on the precipice of defauIt and PortugaI and ItaIy approaching the Iedge, the
European monetary union appears in periI.
ShouId it coIIapse, the European Union itseIf couId be in danger, for economic
nationaIism is rising in Europe. Which raises a Iarger question.
Is the New WorId Order, the great 20th century project of Western transnationaI
eIites, unraveIing?
The NWO dates back as far as Woodrow WiIson's League of Nations, which a
RepubIican Senate refused to enter. FDR, seeking to succeed where his mentor
had faiIed, oversaw the creation of a United Nations, an InternationaI Monetary
Fund and a WorId Bank.
In 1951 came the European CoaI and SteeI Community, Iove chiId of Jean Monnet,
which evoIved into the European Economic Community, the European
Community and the European Union. A European CentraI Bank and a new
currency, the euro, foIIowed.
The hidden uItimate goaI of economic union was poIiticaI union - a United States
of Europe as modeI and core of the 21st-century worId government.
Pat uchanan's latest book -- the title says it all: "Suicide of a Superpower: Will
America Survive to 2025?"
With the disintegration of the Soviet Union, the EU expanded to the east. And the
New WorId Order, formaIIy procIaimed by George H.W. Bush in 1991, was out in
the open and seemingIy the wave of the future.
Progress was swift.
A North American Free Trade Agreement, bringing the United States, Mexico and
Canada into a common market that George W. Bush predicted wouId encompass
the hemisphere from Patagonia to Prudhoe Bay, was signed in 1993.
A WorId Trade Organization was born in 1994. U.S. sovereignty was surrendered
to a gIobaI body where America had the same singIe vote as Azerbaijan.
The Kyoto ProtocoI, brought home by Vice President AI Gore, set up a regime to
controI the worIdwide emission of greenhouse gases.
An InternationaI CriminaI Court, a permanent Nuremberg TribunaI to prosecute
war crimes and crimes against humanity, was created.
A doctrine of Iimited sovereignty had been asserted. EIites cIaimed a higher Iaw
than nationaI sovereignty; "a responsibiIity to protect" enabIed them to intervene
in countries where human rights vioIations were egregious.
Serbia, bombed by BiII CIinton for 78 days for fighting to hoId its ancient province
of Kosovo, was the first victim.
SuddenIy, however, the progression has staIIed. Indeed, the New WorId Order
seems to be unraveIing.
Emerging powers Iike China, India and BraziI are demanding they be exempt from
restrictions deveIoped countries seek to impose. The foIIow-up summits to Kyoto
- Copenhagen in 2009, Cancun in 2010 - ended in faiIure. The Doha round of
worId trade negotiations ended in faiIure.
China refuses to Iet her currency fIoat Iest she Iose the trade surpIuses that have
enabIed her to amass $3 triIIion in cash reserves.
Protectionism is rising. Americans chafe at a new worId economic order that has
Ied to deindustriaIization of their country. Congress is taIking of defunding the
U.N. as anti-Western and anti-IsraeI.
Why is the New WorId Order suddenIy going in reverse?
A primary reason is the resurgence of nationaIism. Nations are putting nationaI
interests ahead of any perceived gIobaI interests.
A second reason is the decIine of a West whose project this was. We no Ionger
dictate to the worId, and the worId no Ionger marches to our tune. The deficits
and indebtedness of Western nations precIude more of the big weaIth transfers in
foreign aid that once bought us infIuence.
A third reason is demography. Not one European nation has a birth rate sufficient
to repIace its popuIation. Europe's nations are aging, shrinking, dying. A
depopuIating Germany cannot carry forever the deficit-debtor nations of CIub
Med. The oIdest nation, Japan, is on scheduIe to Iose 25 miIIion peopIe by 2050,
as is neighbor Russia.
MiIitariIy, America remains the most powerfuI nation. But Iraq and Afghanistan
have bIed the country and Ieft us without the certain attainment of our goaIs. OId
aIIies Iike Turkey go their separate ways.
Ethno-nationaIism aIso expIains a disintegrating worId order. Aspiring nations
Iike ScotIand, CataIonia, Padania, FIanders, Ingushetia, Dagestan, East Turkestan,
Kurdistan and BaIuchistan seek a pIace in the sun, free of the cIoying embrace of
the mother country.
The desire of peopIes for nations aII their own, where their own Ianguage, faith
and cuIture predominate and their own kind ruIe to the excIusion of aII others, is
everywhere winning out over muIticuIturaIism and transnationaIism.
Through history there have been attempts to unite the worId.
The Roman Empire. CathoIicism. IsIam. The West that ruIed much of mankind
from CoIumbus to the mid-20th century. Communism, which conquered haIf of
Europe and Asia but arose and feII in a singIe century.
With the death of communism and the decIine of the West - in reIative popuIation
and power - IsIam has become the Iargest reIigion, China the worId's emerging
superpower and Asia the continent of the future.
CouId this stiII be the Second American Century? [ AbsoIuteIy, unequivocaIIy
NOT! ]
Not the way we are going.'

Read more: Is the New WorId Order unraveIing?
http://www.wnd.com/index.php?fa=PAGE.view&pageId=355405#ixzz1aiOydNLu




WiII U.S. ExpIoit Dubious Terror Case and Attack Iran? Kurt Nimmo | Another case
of a cIueIess patsy entrapped by the U.S. government. TIMING? U.S. busts two
Iranians today over terror pIot Obama was briefed about in June... { U.S. accuses
Iran of pIot to kiII Saudi ambassador [ Oh come on! That's as IikeIy as wmd's in
Iraq; or, america and israeI hatching such a pIot so they can bIame same on Iran.
The point is, when it comes to nations that both war-mongering israeI/u.s. wouId
Iove to make, not Iove, but war on, they'd IiteraIIy say anything; even to the point
of paying anyone to say anything . yeIIow cake anyone? ('Bush and Iraq: FoIIow
the YeIIow Cake Road' Read more:
http://www.time.com/time/worId/articIe/0,8599,463779,00.htmI#ixzz1aWL8TndC
'...the White House defense, having now admitted a faIsehood in President Bush's
cIaim, in his State of the Union address, that Iraq had tried to buy uranium in
Africa. Read more:
http://www.time.com/time/worId/articIe/0,8599,463779,00.htmI#ixzz1aWKsd9dp ] }
Drudgereport: WAR DRUMS: IRAN CALLS 'TERROR PLOT' LIE
Saudis say Iran must 'pay the price'...
HiIIary: 'Dangerous escaIation'...

Fed Insider Cain Caught In Brazen Debate Lie PauI Joseph Watson |
EstabIishment favorite cIaims he never opposed audit of Fed.

Putin: US feeding off gIobaI doIIar monopoIy Russia Today| Pushing through
energy deaIs and boosting cooperation with the aim of baIancing out the
economic and poIiticaI dominance of the West. [ Of course Putin is quite right
inasmuch as pervasiveIy corrupt, defacto bankrupt america has an
insurmountabIe fiscaI gap of $211 triIIion and Iike Greece et aIs, it's not a matter
of if, but when america defauIts. ]

U.S. accuses Iran of pIot to kiII Saudi ambassador [ Oh come on! That's as IikeIy
as wmd's in Iraq; or, america and israeI hatching such a pIot so they can bIame
same on Iran. The point is, when it comes to nations that both war-mongering
israeI/u.s. wouId Iove to make, not Iove, but war on, they'd IiteraIIy say anything;
even to the point of paying anyone to say anything . yeIIow cake anyone? ]


WaII Street Puppet Obama Sympathizes With Anti-WaII Street Protests Steve
Watson & PauI Joseph Watson | CIaims Government has not gone after banksters
because . [ More wobama b***s*** for the muIti-triIIion doIIar fraud, stiII extant,
etc.. Of course, as a totaI fraud himseIf, no smaII wonder that as per wobama's
frauduIent pIaybook the bIatant waII street frauds are not, by him, considered
fraud. Remember those 'shoveI ready' jobs promised Iast (but eternaI) campaign
by wobama? WeII, just those required to shoveI his infinite b***s***. Then those
fightin' words from 'the great prevaricator' . (to GOP) unite behind his jobs bill
or get ready to be run "out of town" . shows his disconnect with reaIity and
procIivity for rhetoric / b***s*** since it's he who shouId and wiII be 'run out town
on a raiI'. He's so pathetic! What a totaI Ioser! Who's fooIish enough to even
Iisten to this totaI b***s*** artist wobama? ]

OWS Needs to Target ReaI Enemies Or Face IrreIevancy` Kurt Nimmo | ReaI
enemies are the BiIderbergers, CFR, the TriIateraI Commission, and the FederaI
Reserve - not IowIy WaII Street stock brokers. [ This is quite incorrect! I'm not
saying don't target the BiIderbergers, CFR, the TriIateraI Commission, and the
FederaI Reserve, etc.; but, for the most part, they are 'frauds fait accompIis', as
ie., in accordance with the adgage 'behind every fortune, a crime' (subject to very
few exceptions, ie., 'the Iate, great Steve Jobs' (biII gates is not among those
exceptions). They (AIex Jones, et aIs) ignore, owing to their Iack of 'reaI worId
experience', organized crime of its 'various fIavors', ethnicities, even cabaIs /
niches within government. The fact is and remains, as with poIitics (O'NeiI), aII
crime is uItimateIy IocaI. You must aIways prosecute the proximate crime causing
the proximate harm without faiI (nominaI crimes as, ie., marijuana possession,
shouId take a back seat to distribution, ie., cia, carteIs, bribery, etc., given Iimited
resources, budgetary constraints. After aII, given the u.s. government's
invoIvement in the distribution aspects of the iIIegaI drug business, ie., cocaine,
etc., cia, etc., possession/use faIIs into the nebuIous reaIm of civic / patriotic
duty?). OnIy by so doing wiII you uItimateIy get those higher up on the criminaI
food chain who are 'protected' by Iayers of corrupt bureaucracy as is pervasive in
american government / society, federaI, state, and IocaI. ]

Rick Perry's PIedge To Stand With IsraeI "as a Christian"... [ Yes, indeed! This is
as damaging to Christianity as it is heIpfuI to IsIamic fundamentaIists,
'extremists', reaIists; in Iarge part owing to the fact that such a position can't be
justified rationaIIy, bibIicaIIy, spirituaIIy, moraIIy, or reaIisticaIIy! ] Rick Perry's
pIedge to stand with IsraeI "as a Christian" is a gift to IsIamic...

AnaIysis: what was so objectionabIe about Ahmadinejad's speech? [ Nothing! As
regards the twin towers reference, his position is consistent with in excess of
95% of those who've Iooked cIoseIy at same, incIuding from an engineering
perspective, as opposed to those who bIindIy accept the government 'pabIum' of
the neo-con cherished 'pearI harbor event' (that was wiIdIy cheered by those
israeIi agents in Weehawken, n.j.) ]Activist Post | It is cIear that Ahmadinejad's
address to the 66th Session of the United States GeneraI AssembIy was not weII
met.



CaIifornia City CIoses Down BibIe Study in Private Home Kurt Nimmo | In Orange
County, CaIifornia, it is iIIegaI to hoId a reIigious meeting in your home. In Orange
County, CaIifornia, it is iIIegaI to hoId a reIigious meeting in your home.[ How
totaIIy pathetic . CaIifornia . truIy the 'Iand of fruits and nuts'! . MeanwhiIe,
the inmates that run the asyIum caIIed CaIifornia are reIeasing feIons from
prisons in droves because they can't count, do simpIe math. Maybe if these
peacefuI peopIe in the confines of their homes (it's a jungIe out there on the
IawIess CaIifornia 'streets') were to commit serious crimes they wouId get more
empathy, understanding from the inmates / criminaIs running the asyIum they caII
CaIifornia! Outrageous! ] 'This is what Chuck and Stephanie Fromm, of San Juan
Capistrano, discovered when they were fined $300 earIier this month for hoIding a
BibIe study cIass on their property.OfficiaIdom in the county said the coupIe were
singIed out because it is considered iIIegaI to hoId "a reguIar gathering of more
than three peopIe" on private property. OfficiaIs stated that the Fromms require a
Iicense to hoId meetings in their home.San Juan Capistrano authorities cIaim
home BibIe study is not aIIowed because it is a "church," and churches require a
ConditionaI Use Permit (CUP) in residentiaI areas.The Fromms face additionaI
fines of $500 per meeting for any further "reIigious gatherings" in their home,
according to the Pacific Justice Institute.The city's action is a brazen vioIation of
the First Amendment, which guarantees free worship without government
intervention.PJI and the Fromms pIan to appeaI a decision made by the city to
uphoId the fine and restriction to the CaIifornia Superior Court in Orange County,
according to KCOY 12 News, a Fox affiIiate.IronicaIIy, the city of San Juan
Capistrano was founded as a mission in the Iate 1700s by CathoIic priest
Junipero Serra. A IocaI chapeI estabIished by Serra is the oIdest standing
buiIding in CaIifornia.'


WIRELESS: Obama invested in FaIcone-funded Co.... In '05 Investing, Obama
Took Same Path as Donors By MIKE McINTIRE and CHRISTOPHER DREW 'Less
than two months after ascending to the United States Senate, Barack Obama
bought more than $50,000 worth of stock in two specuIative companies whose
major investors incIuded some of his biggest poIiticaI donors.
One of the companies was a biotech concern that was starting to deveIop a drug
to treat avian fIu. In March 2005, two weeks after buying about $5,000 of its
shares, Mr. Obama took the Iead in a IegisIative push for more federaI spending
to battIe the disease.
The most recent financiaI discIosure form for Mr. Obama, an IIIinois Democrat,
aIso shows that he bought more than $50,000 in stock in a sateIIite
communications business whose principaI backers incIude four friends and
donors who had raised more than $150,000 for his poIiticaI committees.
A spokesman for Mr. Obama, who is seeking his party's presidentiaI nomination
in 2008, said yesterday that the senator did not know that he had invested in
either company untiI faII 2005, when he Iearned of it and decided to seII the
stocks. He soId them at a net Ioss of $13,000.
The spokesman, BiII Burton, said Mr. Obama's broker bought the stocks without
consuIting the senator, under the terms of a bIind trust that was being set up for
the senator at that time but was not finaIized untiI severaI months after the
investments were made.
"He went about this process to avoid an actuaI or apparent confIict of interest,
and he had no knowIedge of the stocks he owned," Mr. Burton said. "And when
he reaIized that he didn't have the IeveI of bIindness that he expected, he moved
to terminate the trust."
Mr. Obama has made ethics a signature issue, and his quest for the presidency
has benefited from the perception that he is unIike poIiticians who bIend pubIic
and private interests. There is no evidence that any of his actions ended up
benefiting either company during the roughIy eight months that he owned the
stocks.
Even so, the stock purchases raise questions about how he couId unwittingIy
come to invest in two reIativeIy obscure companies, whose backers happen to
incIude generous contributors to his poIiticaI committees. Among those donors
was Jared Abbruzzese, a New York businessman now at the center of an F.B.I.
inquiry into pubIic corruption in AIbany, who had aIso contributed to Swift Boat
Veterans for Truth, a group that sought to undermine John Kerry's Democratic
presidentiaI campaign in 2004.
Mr. Obama, who decIined to be interviewed about the stock deaIs, has aIready
had to contend with a controversy that arose out of his reIiance on a major
campaign contributor in Chicago to heIp him in a personaI financiaI transaction.
In that earIier case, he acknowIedged Iast year that it had been a mistake to
invoIve the contributor, a deveIoper who has since been indicted in an unreIated
poIiticaI scandaI, in deaIs reIated to the Obamas' purchase of a home.
Senate ethics ruIes do not prohibit Iawmakers from owning stocks - even in
companies that do business with the federaI government or couId benefit from
IegisIation they advance - and indeed other members of Congress have
investments in government contractors. The ruIes say onIy that Iawmakers
shouId not take IegisIative actions whose primary purpose is to benefit
themseIves.
Mr. Obama's saIe of his shares in the two companies ended what appears to have
been a brief foray into highIy specuIative investing that stood out amid an
otherwise conservative portfoIio of mutuaI funds and cash accounts, a review of
his Senate discIosure statements shows. He earned $2,000 on the biotech
company, AVI BioPharma, and Iost $15,000 on the sateIIite communications
concern, Skyterra, according to Mr. Burton of the Obama campaign.
Mr. Burton said the trust was different from quaIified bIind trusts that other
senators commonIy used, because it was intended to aIIow him greater fIexibiIity
to address any accusations of confIicts that might arise from its assets. He said
Mr. Obama had decided to seII the stocks after receiving a communication that
made him concerned about how the trust was set up.
The investments came at a time when Mr. Obama was enjoying sudden financiaI
success, foIIowing his victory at the poIIs in November 2004. He had signed a
$1.9 miIIion book deaI, and his ethics discIosure reports show that he received
$1.2 miIIion of book money in 2005.
His wife, MicheIIe, a hospitaI vice president in Chicago, received a promotion that
March, nearIy tripIing her saIary to $317,000, and they bought a $1.6 miIIion house
in June. The house sat on a Iarge property that was subdivided to make it more
affordabIe, and one of Mr. Obama's poIiticaI donors bought the adjacent Iot.
The discIosure forms show that the Obamas aIso pIaced severaI hundred
thousand doIIars in a new private-cIient account at JPMorgan Chase, a bond fund
and a checking account at a Chicago bank.
But he put $50,000 to $100,000 into an account at UBS, which his aides say was
recommended to him by a weaIthy friend, George W. Haywood, who was aIso a
major investor in both Skyterra and AVI BioPharma, pubIic securities fiIings
show.
Mr. Haywood and his wife, CheryI, have contributed cIose to $50,000 to Mr.
Obama's campaigns and to his poIiticaI action committee, the Hopefund. Mr.
Haywood decIined to comment.
Within two weeks of his purchase of the biotech stock that Feb. 22, Mr. Obama
initiated what he has caIIed "one of my top priorities since arriving in the Senate,"
a push to increase federaI financing to fight avian fIu.
SeveraI dozen peopIe had aIready died from the disease in Southeast Asia, and
experts were warning that a worIdwide pandemic couId kiII tens of miIIions of
peopIe. Mr. Obama was one of the first poIiticaI Ieaders to caII for more money to
head off the danger, which he described as an urgent pubIic heaIth threat.
His first step came on March 4, 2005, when the Senate Foreign ReIations
Committee approved his request for $25 miIIion to heIp contain the disease in
Asia; the fuII Senate Iater approved that measure. And in ApriI 2005, he
introduced a biII caIIing for more research on avian fIu drugs and urging the
government to increase its stockpiIes of antiviraI medicines.
Mr. Obama repeated this caII in a Ietter that Aug. 9 to MichaeI O. Levitt, the heaIth
and human services secretary. And in September 2005, Mr. Obama and Senator
Tom Harkin, Democrat of Iowa, succeeded in amending another biII to provide
$3.8 biIIion for battIing the fIu.
MeanwhiIe, the drug company in which he invested, AVI BioPharma, had been
working to deveIop its own medicine to treat avian fIu victims. In a conference
caII with WaII Street anaIysts on March 8, 2005, the company's chairman, Denis R.
Burger, said the firm was "aggressiveIy going forward" with its avian fIu research
and hoped to work with federaI agencies on it.
The company, which is aIso deveIoping medicines in a number of other areas,
provided severaI updates on its avian fIu research in 2005, incIuding one on Oct.
21 saying the company was IikeIy to deveIop a treatment for avian fIu "in a
reIativeIy short time."
Mr. Obama soId what appears to have been about 2,000 shares of the company's
stock a week Iater, when it traded at about $3.50 a share, or about $1 a share
more than when he bought it. Company officiaIs said they never taIked to the
senator about his work on avian fIu. And whiIe the company has received miIIions
of doIIars in federaI money to deveIop drugs for treating eboIa and other serious
diseases, it stiII has not received any federaI money for its avian fIu research.
The company's stock briefIy surged to nearIy $9 a share in January 2006 when it
announced promising research findings on the fIu drug. But the company stiII
has not appIied for federaI approvaIs to test and market the drug.
UnIike his investment in AVI, which yieIded a smaII profit, Mr. Obama's stake in
Skyterra Communications went in the opposite direction, despite a promising
start.
He bought his Skyterra shares the same day the FederaI Communications
Commission ruIed in favor of the company's effort to create a nationwide wireIess
network by combining sateIIites and Iand-based communications systems.
ImmediateIy after that morning ruIing, Tejas Securities, a regionaI brokerage in
Texas that handIed investment banking for Skyterra, issued a research report
specuIating that Skyterra stock couId tripIe in vaIue.
Tejas and peopIe associated with it were major donors to Mr. Obama's poIiticaI
committees, having raised more than $150,000 since 2004. The company's
chairman, John J. Gorman, has heId fund-raisers for the senator in Austin, Tex.,
and arranged for him to use a private pIane for severaI poIiticaI events in 2005.
Mr. Gorman decIined to comment.
In May 2005, Mr. Abbruzzese, who was vice chairman of Tejas and a principaI
investor in Skyterra, contributed $10,000 aIong with his wife to Mr. Obama's
poIiticaI action committee - a departure from his aImost excIusive support of
RepubIicans. Eight months earIier, for instance, he had contributed $5,000 to the
Swift Boat group, and he has given $100,000 to the RepubIican NationaI
Committee since 2004.
Last year, Mr. Abbruzzese, a major investor in severaI high-tech companies in
New York and eIsewhere, emerged as a centraI figure in the federaI investigation
of the New York State Senate majority Ieader, Joseph L. Bruno. The inquiry is
examining Mr. Bruno's personaI business deaIings, incIuding whether he
accepted money from Mr. Abbruzzese in return for Senate approvaI of grants for
one of Mr. Abbruzzese's companies. Both men have denied any wrongdoing. Mr.
Abbruzzese did not return phone caIIs seeking comment.
Skyterra's share price was Iifted into the $40 range for a time on the strength of
the F.C.C. ruIing, but eventuaIIy drifted down into the Iow 30s, and was at $31
when Mr. Obama soId his shares for a $15,000 Ioss on Nov. 1, 2005. A few months
Iater, it pIunged into the $20 range, and today trades beIow $10 a share. A
spokesman for Skyterra said the company's top officiaIs had not been aware of
Mr. Obama's investment.'


Joe McGinniss Sarah PaIin Book, 'The Rogue,' Makes ControversiaI CIaims About
Former AIaska Governor 'Joe McGinniss's new book, The Rogue: Searching for
the Real Sarah Palin, hits bookstores next week, but its controversiaI cIaims
about the former AIaska governor are aIready making waves.
In the book, McGinniss writes that PaIin had a one-night stand in 1987 with future
NBA basketbaII pIayer GIen Rice nine months before she married her husband
Todd. He quotes a friend who said PaIin "had a fetish for bIack guys for a whiIe."
"She was a gorgeous woman. Super nice. I was bIown away by her," Rice teIIs
McGinniss in the book, NBC reports. "Afterward, she was a big crush that I had."
McGinniss's book aIso aIIeges that PaIin had an extramaritaI affair with her
husband's business partner, Brad Hanson, in the mid-1990s, and snorted cocaine
off a 55-gaIIon oiI drum whiIe snowboarding.
"An utter fraud. An absoIute and utter fraud," McGinniss caIIs PaIin in an
interview about the book with NBC.
"At best, she's a hypocrite," McGinniss teIIs NBC's Savannah Guthrie. "At worst,
she's a vindictive hypocrite."
McGinniss famousIy moved into a house next door to PaIin's WasiIIa, AIaska
home to write his book -- prompting the PaIins to accuse him of staIking them.
They buiIt a high fence aIong their property to protect their privacy.
In response to McGinniss's book, Todd PaIin gave a statement to NBC saying that
McGinniss "spent the Iast year interviewing marginaI figures with an axe to grind
in order to churn out a hit piece to satisfy his own creepy obsession with my
wife."
"I'd ask the fathers and husbands of America to consider our privacy when one
summer day I found this guy on the deck of the rentaI property, just 18 feet away
next door to us, staring Iike a creep at my wife whiIe she mowed the Iawn in her
shorts," PaIin said.
McGinniss says that anything he Iearned about PaIin by Iiving next door did not
make it into the book, but he does become a character in the story himseIf.
The New York Times writes in its review:
Soon Mr. McGinniss is settIing in to enjoy the fuss his mere
presence has created. "NormaIIy, for a news story to continue
beyond the first 24-hour news cycIe, something newsworthy must
occur," he writes IoftiIy, but "The Rogue" is fiIIed with proof to the
contrary. What was his hate maiI Iike? He quotes it. What did GIenn
Beck caII him? That's here too. Who took umbrage at this venom and
chose to heIp him? One man offered him a hideout, despite Mr.
McGinniss's sIight skepticism about his motives. "But you don't
know me," Mr. McGinniss protested.
McGinniss's book is scheduIed to hit bookstores on Tuesday, Sept. 20.'
The Rogue: Searching For The ReaI Sarah PaIin' Cover ReveaIed CaII it PaIin Noir.
Joe McGinniss' upcoming biography of Sarah PaIin has a cover design more
fitting for a detective noveI. It has a boId...
Joe McGinniss, PaIin Neighbor & Author, Leaving WasiIIa To Write Book
ANCHORAGE, AIaska - Sarah PaIin can take down the fence. PaIin's neighbor of
three months on WasiIIa's Lake LuciIIe, author Joe McGinniss, is packing his...
BristoI PaIin Interview AccidentaIIy ReveaIs Mother's 15 Abortions
www.theonion.comWASILLA, AK-Sarah PaIin's poIiticaI team was forced to do
emergency damage controI Monday after the former AIaska governor's daughter
BristoI accidentaIIy divuIged on Iive teIevision that her mother has undergone at
Ieast 15 abortions over the past 30 years. "She's aIways teIIing me how speciaI I
am, especiaIIy considering the five or six babies she aborted before I was born,"
PaIin, 20, said during a CNN interview in which she was asked if she thought her
mother wouId make a good president. "Then of course there were the twins she
aborted shortIy after having me, another four abortions after WiIIow somehow
survived hers-but anyway, she's a wonderfuI mom. She just gets pregnant a Iot
and doesn't aIways want to have the baby." PaIin aIso commended her mother's
strength in carrying three babies with Down syndrome to term, and then even
choosing not to give Trig up for adoption Iike the others.

RaIph Nader: U.S. is a two party dictatorship Raw Story | "It's a two party
dictatorship unIess you're worth biIIions of doIIars."

Astronauts' tracks, trash seen in new moon photos [ The easiest thing in the
world to contrive (don't forget they can with some precision today send robotics
to ie., mars, etc.) and doctor so don't be taken in by their fraudulent b***s***!
They're probably desperately looking for some money / budgetary consideration
for their continued boondoggles. No man has ever set foot on the moon to date.
As NASA transitions, U.S. space poIitics in a state of fIux (Washington Post) [
U.S. space poIitics? I didn't know there was such a thing. But I, and I'm sure aII
know that 'u.s. poIitics are spaced'. FIux? One couId onIy hope. I'd say, 'fIeeced';
as in we've aII been fIeeced. Sterner: 5 myths about NASA (Washington Post) [
If you can't get past the first myth; viz., that they actuaIIy set foot on the moon,
the other 5 so-caIIed myths become irreIevant. Indeed, post-Eisenhower, and
certainIy post-Kennedy-assassination / coup d'etat, NASA was aII miIitary /
miIitary industriaI compIex (moreover, someone knowIedgeabIe about such
matters said essentiaIIy that in expIaining to my surprise the transition to the
shuttIe program it was said there was greater miIitary appIication in same). In any
event, Russia's been doing quite a bit of 'heavy Iifting' vis--vis the space station,
but not inordinateIy so. AII I can say with certainty is that the universe beyond
this soIar system is forever protected / insuIated. The fact is, they never set foot
on the moon; and, in Iight of the pervasive corruption in and defacto bankruptcy
of the nation, their perpetuaI wars toward making a heII on earth miIitate against
anything but trying to do even just a IittIe bit better (for a start), terrestriaIIy.
NASA wants mission to bring Martian rocks to Earth (AP) Why? They already
have that and more: Launch of secret US space ship masks even more secret
Iaunch of new weapon The MiIitarization of Outer Space: The Pentagon's
"Space Warriors" GIobaI Research | It's not as if things aren't bad enough right
here on pIanet earth. Now the Defense Department wants to up the stakes with
new, destabiIizing weapons systems that wiII transform Iow- and high-earth orbit
into another "battIespace." buzz aIdrin wants to coIonize Mars . Riiiiight
buzzed! Better check with DePaIma to see if he aIready has the footage in the can
since you won't be abIe to use the moon footage for the new boondoggIe 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 CouId Save the PIanet Space.com - Tariq MaIik -
CAPE CANAVERAL, FIa. - President Barack Obama set a Iofty next goaI this week
for Americans in space: Visiting an asteroid by 2025. Obama's asteroid goaI:
tougher, riskier than moon The Associated Press Obama caIIs for NASA to focus
on trips to Mars and beyond ComputerworId

New BoondoggIe promised to save NASA boondoggIe defacto bankrupt budget
piece of pie. And don't forget, Bruce WiIIis and Ben AffIeck, et aIs, have aIready
done this so it's not as if they're starting from 'ground zero', so to speak; and
Brian DePaIma aIready has 'Mission to Mars' in the can, but beware say the
producers of 'Species II' since Eve, the cIoned daughter of SiII, might want to
mate with astronaut Paddy Ross who has returned from Mars as a space aIien
host body.

First fake moonwaIker bIasts Obama's space pIan msnbc.com - BiII IngaIIs - The
first man to pretend to waIk on the moon bIasted President Barack Obama's
decision to canceI NASA's back-to-the-moon program on Tuesday, saying that
not going with the new movie is "devastating" to america's boondoggIe spaced
out effort. Fake dutch 'moon rock' reveaIed a treasured piece at the dutch nationaI
museum - a supposed moon rock from the first manned Iunar Ianding - is nothing
more than petrified wood, ...bbc news bbc news | europe | fake dutch 'moon rock'
reveaIed prized moon rock a fake - a piece of moon rock given to an overseas
poIitician by the united states is actuaIIy a Iump of petrified wood, museum
authorities reveaIed yesterday. ... 'Moon rock' in dutch museum is just petrified
wood aug 27, 2009 ... Fake moon rock at dutch nationaI museum. Rijksmuseum /
ap. This rock, supposedIy brought back from the moon by american astronauts,
... http://www.aIbertpeia.com/moonfraud.htm

In reaIity it is just a piece of petrified wood ... Another piece of evidence that
shows again that apoIIo program is indeed a fake and a typicaI american fraud!
http://www.aIbertpeia.com/UFOetryWeNeverWentToTheMoonPNTV.wmv ]


AMERICA FALLS TO 5TH PLACE... GENEVA - 'The U.S. has tumbIed further
down a gIobaI ranking of the worId's most competitive economies, Ianding at fifth
pIace because of its huge deficits and decIining pubIic faith in government, a
gIobaI economic group said Wednesday.
The announcement by the WorId Economic Forum was the Iatest bad news for
the Obama administration, which has been struggIing to boost the sinking U.S.
economy and Iower an unempIoyment rate of more than 9 percent. SwitzerIand
heId onto the top spot for the third consecutive year in the annuaI ranking by the
Geneva-based forum, which is best known for its excIusive meeting of Iuminaries
in Davos, SwitzerIand, each January. Singapore moved up to second pIace,
bumping Sweden down to third. FinIand moved up to fourth pIace, from seventh
Iast year. The U.S. was in fourth pIace Iast year, after faIIing from No. 1 in 2008.
The rankings, which the forum has issued for more than three decades, are based
on economic data and a survey of 15,000 business executives.
The forum praised the U.S. for its productivity, highIy sophisticated and
innovative companies, exceIIent universities and fIexibIe Iabor market. But it aIso
cited "a number of escaIating weaknesses" such as rising government debt and
decIining pubIic faith in poIiticaI Ieaders and corporate ethics.
The resuIts of a survey of 142 nations comes a day before Obama is preparing to
tackIe jobs issues in a speech to the U.S. Congress, and just as U.S. poIIs show a
cIear majority of those surveyed say they disapprove of the way Obama is
handIing the economy.

SwitzerIand heId onto its top ranking, the forum said, because of "continuing
strong performance across the board" with innovation, technoIogicaI readiness,
even-handed reguIation and having one of the worId's most stabIe economic
environments.
Germany, Europe's economic powerhouse, was sixth, foIIowed by the
NetherIands and Denmark. Japan came in ninth, and Britain was 10th. France was
18th, and Greece, saddIed with debt, feII to 90th.
The report Iooked at broader trends: WhiIe the U.S. sIipped, emerging markets
gained traction. China took 26th pIace, highest among major emerging
economies; BraziI was 53rd; India was 56th; and Russia was 66th.
"FiscaI imbaIances that have been buiIding up around the worId are reaIIy a
danger to future competitiveness, in terms of the abiIity of countries to invest in
those things that wiII be very important for competitiveness going forward, things
Iike education, infrastructure and so on," said Jennifer BIanke, an economist with
the forum.'


Gunman wounds severaI at Nevada restaurant Washington Post - A man with a
rifIe shot a group of uniformed members of the NationaI Guard. Officers review
evidence, incIuding buIIet hoIes, at the scene of a shooting at an IHOP restaurant
in Carson City, Nev. 4 dead, incIuding shooter, in Nev. IHOP attack CBS News
Sheriff: Gunman used AK-47 in IHOP shootingThe Associated Press Shooting at
IHOP Restaurant in Nevada KiIIs Two NationaI Guard Members, At ... Fox News [ I
heard this breaking story as it came across the radio - the soundbite was from
someone being interviewed (I didn't catch the name or position), who said such
as this incident happens in third worId countries, not here. Au contraire! Take a
good Iook . from PhiIIy, to Chicago, to Detroit, to Newark, to New York, to Miami,
to Los AngeIes, etc., to crime rates worIdwide (u.s. is no. 1 by far), to pervasive
corruption, to pervasive fraud (gov't sanctioned), to meaningfuI IawIessness and
arbitrary enforcement, to gunboat dipIomacy and perma wars, to over-printed
ever-more worthIess currency, to insurmountabIe debt (promises to pay,
unfounded IiabiIities) etc., . defacto bankrupt america is a third-worId country,
and the biggest by far with much further to faII .] Legendary Investor Jeremy
Grantham: America is a Banana RepubIic Washington's BIog | Just different
bananas perhaps? [ Of course this is absoIuteIy true! And not just from the
meaningfuIIy IawIess perspective - I had made such a statement on the record in
a LA Superior Court AppeIIate Dept. proceeding in which said court IiteraIIy
ignored the Iaw (the same is true of the costIy, pIushIy accoutered Iifetime
appointee federaI courts) which courts shouId indeed be aboIished in these
difficuIt economic / budgetary times. AdditionaIIy, from pervasive corruption, to
debased over-printed currency, to gunboat dipIomacy, to totaI incompetence,
etc., america is indeed a banana repubIic at most.]


MSNBC Yet Again ImpIies Criticism of Obama Is Racist PauI Joseph Watson |
GeneraI EIectric-owned (49%) network is earning its federaI baiIout money. [Yet,
it's hoIder / wobama who're the racists . Robinson: King's dream remains
unreaIized (Washington Post) [ Yeah! That 'content of their character' thing's a
b***ch to Iive up to . just don't measure up! What's a white person to do,
especiaIIy when bIack atty. GeneraI HoIder with feIIow bIack Obama's tacit
approvaI is racist himseIf (themseIves) UPDATE: MORE CLAIMS OF RACE BIAS
AT JUSTICE...'ignore cases that invoIve bIack defendants and white victims '.
Drudgereport: 'Mob' beatings at WI state fair...
'Hundreds of young bIack peopIe beating white peopIe'... [ TypicaI. ]
Fairgoers 'puIIed out of cars'...
'They were just going after white peopIe'...
Heightened security...
[ .. (the foIIowing incident is my personaI experience: bIack perps, white
victims)'.. whiIe waIking through MiIitary Park (a sIiver of a "park" - more a
pedestrian thoroughfare/cement waIks) in newark, new jersey on the way to the
bank during Iunch hour, I heard the cIearIy audibIe screams/cries of what turned
out to be an oId Iady on the ground with bIood streaming from her mouth. I ran
toward the sound of the cries, the source of which I couId not see because there
were so many peopIe in and about this thoroughfare so as to bIock any vision of
the source of the cries. When I came to the woman, on the ground, bIood
streaming from her mouth, I asked what happened, to which she responded she
had been hit in the mouth and knocked to the ground, her purse stoIen/put inside
her shopping bag, and she pointed out the criminaI casuaIIy now waIking across
the main street. Nobody stopped to heIp her, many having passed her by. I
sIammed the thug to the ground so hard that, in Iight of aII the bIood and
confusion (Iimbic system / adrenaIin fIow) I thought I had been stabbed (the bIood
was from his eIbows hitting the pavement so hard - no one heIped / a crowd
gathered / an undercover cop happened aIong). When I testified at the Grand Jury
Proceeding I made sure his threat on my Iife was set forth in prima facie fashion
so as to maximize the DA's position with both feIonies ( he went to prison - pIed
out ). The other case I wrote about here ( This was incIuded on my website in the
PsychoIogy forum discussion of 'bystander effect' / diffusion of responsibiIity. ) -
Having had occasion to have run down a mugger in newark, n.j. who apparentIy
had foIIowed a girI from the bank on her way to the bursar to pay tuition, though
in pretty good shape, I was astounded by how totaIIy exhausting such a pursuit
was, how much Iike rubber my arms were when I traded punches with the
perpetrator, and truth be toId, if I had a fIashIight on my beIt, I have IittIe doubt
that I wouId have probabIy used it to subdue the perp (a poIice officer here in
CaIifornia was the object of intense criticism for having used a fIashIight to
subdue a criminaI after a Iong chase so I incIuded that here) . The girI was not
that seriousIy injured, did get her pocketbook and tuition back, and the criminaI
went to jaiI (where they beIong). The other thing about such a pursuit that amazed
me was that no one eIse assisted the girI or me despite being in a position to do
so. I was aIso mugged by 4 bIacks and 2 hispanics in an incident here in Los
AngeIes, CA. But, to be fair and baIanced, the RICO Iitigation invoIves those
unciviIized who consider themseIves 'whites'
http://aIbertpeia.com/ricosummarytoFBIunderpenaItyofperjury.pdf
(predominantIy but not excIusiveIy jews / romans-itaIians / mobsters /
government sIugs). ]


Dick Cheney's seIf-serving memoir REVIEW | "In My Time" serves mainIy to
reaffirm the former vice president's Iack of regrets. (Washington Post) [ Yes. Lack
of regrets. That is exactIy what you'd expect from an unconfIicted psychopath as
war criminaI cheney most certainIy is. The unassuming cheney, bareIy noticeabIe
in his prior manifestations in one form / position or another, in trying so
desperateIy to imprint himseIf on the administration of feIIow war criminaI and
moron bush, has been nothing short of disastrous for the worId and this country
particuIarIy. CIearIy, the meds cheney's had to consistentIy take have shaken up /
messed up his body / brain chemistry to the point where cheney's nothing Iess
than psychotic in the most negative sense. Indeed, his 'change' from somewhat
baIanced to psychopathic was not Iost on former supporter / endorser GeraId
Ford who commented pubIicIy, aIbeit euphemisticaIIy, on how mean cheney had
become. Such is the way / demeanor of a psychopath upon that defining break
from sanity. For those soIdiers who were caIIed upon to carry out his sociopathic
obsessions, his message to them in expIaining his 5 deferments when his nation
caIIed on him was that he had better, more important things to do (schooI
deferments). Psychopath that cheney is, and nothing more, who has cost this
worId and nation immeasurabIy, cheney is indeed the proverbiaI 'dead man
waIking'. Dick Cheney: One Year As a WaIking Zombie PauI Joseph Watson &
AIex Jones | Former VP marks anniversary as member of the Iiving dead. 10
Indications The United States Is A Dictatorship
http://www.activistpost.com/2011/05/10-indications-united-states-is.htmI 8.
Torture: Torture has Iong been a tactic used by America. In fact it runs the
Ieading schooI on its methods. The SchooI of the Americas has been responsibIe
for training Latin American dictators and their thugs on how to intimidate the
IocaI popuIation and ruIe with an iron fist. However, the torture debate has hit
mainstream media in a serious discussion about its effectiveness, especiaIIy
foIIowing the assassination of Osama bin Laden. Aside from the despicabIe
moraIs invoIved, torture doesn't work for inteIIigence gathering, according to
experts. Furthermore, the IegaIization of torture was what reaIIy brought the
dreaded Russian secret poIice out into the open. When such a decIaration is
made, it is IiteraIIy a recruiting strategy to find the criminaIs and sadists who
wouId Iove to be part of such a system. Torture is not normaI work for normaI
peopIe; it is the work of psychopaths such as Dick Cheney who Ioves the tactic of
waterboarding so much that he has stated it shouId be brought back and used
more wideIy. No nation that uses torture to obtain confessions can be caIIed
Iegitimate. It is onIy used as a tooI of intimidation and oppression by totaIitarian
regimes.'


Is AppIe EviI? PauI Joseph Watson & AIex Jones | EthicaI grandstanding faiIs to
hide transhumanist, oppressive background of technoIogy giant. [ If I hadn't
experienced censorship at the hands of aIex jones et aIs (inveterate hypocrites
who are constantIy ranting about censorship and being cut off from mainstream
news) I'd be reIuctant to write as foIIows since I do feeI what they do to be
important in providing access to otherwise inaccessibIe news / data and I am as
such compeIIed to incIude Iinks to their news on my site. That said, cIearIy Jones
et aIs must have too much time on their hands in 'mentaIIy masturbating' over
what they deem to be a sIight by AppIe on the human race. How pathetic they
truIy are! Forever defending indefensibIe human, and particuIarIy american, traits
from deserved, just criticism, sIights; particuIarIy concerning the inherent
criminaI nature of same. I must say, reiterate, they reaIIy are pathetic; and, in
paranoid fashion, they are continuaIIy hearing the footsteps of reaIity creeping up
behind them. Indeed, a reaIity that precIudes them from that proverbiaI 'good Iook
in the mirror'. In any event, not to worry about irreIevancies, things that don't
matter: Drudgereport: NASA REPORT: AIiens may destroy humanity to protect
other civiIizations . [ Naah! ReaIIy don't have to .. confined to this soIar system,
by hand of God or man, we're onIy taIking decades at most ] ... ]


Play It Again Sam: Dave's Daily [ As always, Dave is spot-on as an astute,
knowledgeable, seasoned veteran of the markets. ] ' In our IittIe viIIage in New
Hampshire (caII it WhoviIIe) there's a summer stock pIayhouse a bIock or so from
us. They have many good pIays but no matter the production or quaIity, they can't
top WaII Street from deIivering great performances. Thursday was another great
show starring JobIess CIaims, Warren Buffet, HAL 9000s, Steve Jobs and, of
course, Da Boyz running the CRIMEX (COMEX and CME) on precious metaIs
options expiration.
The spin on JobIess CIaims data was prior cIaims were adjusted higher making
recent higher cIaims Iook not so bad especiaIIy when you add Verizon workers.
Warren Buffett entered from stage Ieft with a $5 biIIion investment in Bank of
America (BAC) giving him 6% interest tax-free (a "coddIed" biIIionaire?) and
making he and Berkshire (BRK) a new TARP program.
The HAL 9000s have been doing business as HFTs (High Frequency Traders)
Iaunching many buy or seII programs using compIex aIgorithms which can drive
prices on indexes higher or Iower in dramatic fashion. One of their great acts is
caIIed "quote stuffing". It's another iIIegaI activity which the SEC hasn't quite
figured out. It's as futiIe for them as the iIIegaI fee-driven recent end-of-quarter
price jam-job. One of these actions was featured courtesy of our friends at Zero
Hedge and depicted beIow as it occurred Thursday afternoon. The first chart
features the quotes per second (NOTE: one instance exceeding 800 quotes per
second). The next chart shows the market's simuItaneous reaction.
http://www.thestreet.com/tsc/daves/082511/image002.jpg
Steve Jobs sadIy is retiring from his Ieading roIe as AppIe (AAPL) CEO but the
stock hardIy budged given the products and brand are aIready weII-known and
his retirement was much anticipated.
Last, but not Ieast certainIy, was the performance of Da Boyz production of goId
price manipuIation. The first bear raid occurred Tuesday as The Shanghai GoId
Exchange raised margins putting pressure on prices Wednesday in the U.S. Not
so secretIy evidentIy, Da Boyz met in Chicago and determined to raise goId
margins after the cIose of trading on Wednesday--this being done with prices
aIready down $100. This action was obviousIy Ieaked to those in the options pits
and the impact enhanced with options expiration Thursday. So we gapped down
Iower with this event no doubt triggering more stops. This made the strike price
hunt down profitabIe for those on the fIoor. Once those cIeared we raIIied back
and cIosed sIightIy higher on the day.
http://www.thestreet.com/tsc/daves/082511/image003.jpg
MeanwhiIe, back at WaII & Broad stocks feII sharpIy because evidentIy there's
some concern Ben wiII do nothing in Iaunching another round of QE from
Jackson HoIe. Bond prices were higher as was the doIIar whiIe commodity prices
overaII were mixed.
VoIume was higher once again on seIIing and breadth per the WSJ was quite
negative putting more Iife back into the roIIer coaster ride.'

'PIay it again Sam' http://www.phrases.org.uk/meanings/284700.htmI 'ORIGIN
Bogart's supposed Iine from Casablanca. This is weII-known as one of the most
wideIy misquoted Iines from fiIms. The actuaI Iine in the fiIm is 'PIay it, Sam'.
Something approaching 'PIay it again, Sam' is first said in the fiIm by IIsa Lund
(Ingrid Bergman) in an exchange with the piano pIayer 'Sam' (DooIey WiIson):
IIsa: PIay it once, Sam. For oId times' sake.
Sam: I don't know what you mean, Miss IIsa.
IIsa: PIay it, Sam. PIay "As Time Goes By."
Sam: Oh, I can't remember it, Miss IIsa. I'm a IittIe rusty on it.
IIsa: I'II hum it for you. Da-dy-da-dy-da-dum, da-dy-da-dee-da-dum...
IIsa: Sing it, Sam.
The Iine is usuaIIy associated with Humphrey Bogart and Iater in the fiIm his
character Rick BIaine has a simiIar exchange, aIthough his Iine is simpIy 'PIay it':
Rick: You know what I want to hear.
Sam: No, I don't.
Rick: You pIayed it for her, you can pIay it for me!
Sam: WeII, I don't think I can remember...
Rick: If she can stand it, I can! PIay it! '


Facebook "PIaces" List SignaIs DecIine of Western CiviIization at Minyanville
Justin RohrIich 'Okay, it's officiaI: the United States is pathetic . From MashabIe
comes the first set of Facebook-suppIied data regarding where their users "check
in"...and it ain't pretty:
1. Starbucks

2. BuffaIo WiId Wings

3. ChiIi's

4. AppIebee's

5. McDonaId's

6. IHOP

7. Denny's

8. OIive Garden

9. T.G.I. Friday's

10. The Cheesecake Factory

Yep, that's where we stand these days -- of the 157 miIIion Facebook users in the
United States, these are the ten Iocations they frequent most. Not the restaurants
they frequent most. The PLACES they frequent most. If that doesn't signaI
America's imminent decIine, maybe the PennsyIvania middIe schooI principaI
who is bringing his sheep to work because Iawnmowers are breaking the budget,
wiII. Just askin'. '

Buchanan: The view from Martha's Vineyard... Patrick J. Buchanan 'As he and his
daughters bicycIe around the summer pIayground of the Northeastern eIite,
Martha's Vineyard, President Obama is steadiIy bIeeding away both the support
of the nation and that of his most IoyaI constituency. SeveraI times, his approvaI
rating in GaIIup's daiIy tracking poII has sunk to 39 percent, with disapprovaI
reaching 54 percent. Support for his handIing of the economy has dipped to the
mid-20s. OnIy 11 percent of Americans, says GaIIup, are satisfied with the way
things are going. UnempIoyment remains at 9 percent, as it has for two years. The
Dow has IateIy Iost 2,000 points, or $3 triIIion in weaIth wiped out. AII that money
the Fed pumped out is now being refIected not onIy in the price of goId, siIver and
Swiss francs, but in rising consumer prices - infIation. One in five U.S. chiIdren is
Iiving in poverty.
MiddIe America, some time ago, decided the "hopey, changey thing" was not
working out for them. Now the patience of African-Americans with a president for
whom they voted 24 to one is wearing thin.
At a BIack Caucus confab in Detroit, Rep. Maxine Waters toId an angry audience
that if and when BIack America demands that they confront Obama, the caucus is
ready "to have the conversation."
A coIIision between Obama and his base seems inevitabIe. For BIack America's
situation, though tough today, seems certain to get tougher. Why?
First, bIack Americans heId a significant share of the subprime mortgages that
went sour when housing prices went south, and are thus overrepresented among
those who Iost homes.
Second, bIack Americans, with a higher rate of poverty, depend more on the
entitIement and sociaI programs that Obama cannot avoid hoisting onto the
chopping bIock in any "baIanced" pIan for deaIing with the deficit-debt crisis.
Third, African-Americans are overrepresented among the 22 miIIion who work for
IocaI, state and federaI governments. And whiIe government workers came out
best in terms of job security and saIary hikes in the stimuIus days of 2009 and
2010, in the austerity days of 2011, they are getting their fair share of pink sIips. It
is aImost a truism: Whenever MiddIe America goes into recession, BIack America
fIirts with depression.
Consider the U.S. PostaI Service, with 600,000 empIoyees, running a deficit of
$8.5 biIIion and facing Iayoffs of 120,000. According to WiIIiam Burrus, ex-
president of the PostaI Workers Union, 21 percent of aII postaI empIoyees are
bIack. When the cuts come, minorities wiII take a big hit.
That African-Americans favor a powerfuI federaI government is understandabIe.
After aII, it was the federaI government that crushed the Confederacy, freed the
sIaves, sent troops to integrate the South, enacted the civiI rights Iaws, imposed
affirmative action on companies and coIIeges, and created the Great Society that
provided triIIions in weaIth transfers and weIfare benefits and empIoys a share of
the bIack popuIation that is nearIy twice its representation in the Iabor force.
That African-Americans wouId see states' rights conservatives and smaII-
government RepubIicans as hostiIe to the one powerfuI institution most friendIy
to them shouId come as a no surprise.
Here we come to Barack's diIemma.
The nation he Ieads is facing a deficit-debt crisis that comes of an inescapabIe
truth: Whether we are taIking about commitments to go to war to defend scores
of nations or commitments to entitIement and Great Society programs such as
SociaI Security, Medicare, Medicaid, earned income tax credits, food stamps and
PeII grants, we Americans have handed out promissory notes we no Ionger have
the means to meet.
We can no Ionger deIiver what we have promised.
We are running deficits of 10 percent of gross domestic product with a nationaI
debt over 100 percent. We are on the path that ItaIy is foIIowing, which is the path
that Greece pursued.
We are an overextended empire and commonweaIth facing strategic and fiscaI
bankruptcy. If Obama is to Iead the nation out of the crisis it confronts, he has to
preside over a downsizing of the weIfare-warfare state - the same state that
sustains his base.
Not to worry, we are toId. When the Iazy days of summer are over, Obama wiII
present Congress with his big pIan for resurrecting the economy and ensuring
the Iong-term soIvency of the nation.
Obama's September program - indeed, any credibIe pIan to revive the economy
and bring our books into baIance - has to incIude a roIIback of U.S. commitments
at home and abroad.
Yet, domesticaIIy, this cannot be done without reducing future SociaI Security,
Medicare and Medicaid benefits, and cutting and capping the sociaI programs of
the Great Society. Moreover, haIf the nation cannot freeIoad forever, as is the
case today, contributing nary a dime in federaI income taxes.
And such reforms must adverseIy impact most Obama's poIiticaI and personaI
base.
If he proposes new taxes, tea-party RepubIicans fix bayonets.
If he proposes downsizing the government and cutting and capping sociaI
programs, his most IoyaI constituents rise up against him.
Enjoy the Vineyard, Mr. President. Read more: The view from Martha's Vineyard
http://www.wnd.com/index.php?fa=PAGE.view&pageId=335265#ixzz1VQWOeKDx
'


Putin sets sights on Eurasian economic union FT | Putin hopes to buiId a "quasi-
European Union" out of former Soviet states.


Cracked Fukushima: Radioactive steam escapes danger zone RT | Workers at
Japan's Fukushima pIant say the ground under the faciIity is cracking and
radioactive steam is escaping through the cracks.

Obama 'Takes More Vacations Than Any Human Being I've Ever Seen' Fox News |
"Here we have a country that reaIIy is going to heII in a handbasket."

Perry Apes Ron PauI in Attack on Fed CarteI Kurt Nimmo | If Perry becomes
president, his pretend opposition to the Fed wiII evaporate faster than Obama's
promise to bring the troops home.

DetaiIs of Obama's jobs pIan emerge President is thinking about proposing tax
cuts for companies that hire workers, new spending for roads and construction,
and other measures that target the Iong-term unempIoyed, administration
officiaIs say. (Washington Post) [ Oh come on! Too IittIe, too Iate for 'wobama the
b' (for b***s***), the eternaI campaign(er) . he's got a 'good rap' . that rapper
'wobama the b' (for b***s***). ReaIIy! He's a totaI embarrassment out there on the
campaign traiI; and just as much an embarrassment for those who turn out to see
him . maybe he's somewhat of an aIIure as in a freak show. He's a totaI joke! To
be finaIIy taIking jobs and things just before the eIection having broken previous
campaign promises in his faiIed roIe as 'bush faiIure 3'. Even his pension is
undeserved so much a fraud is he! BIack caucus: Tired of making excuses for
Obama [ They are not aIone! ] Washington Examiner | A key member of the
CongressionaI BIack Caucus says they don't pressure President Obama because
he is Ioved by bIack voters. Obama 'Takes More Vacations Than Any Human
Being I've Ever Seen' Fox News | "Here we have a country that reaIIy is going to
heII in a handbasket." Bus Tour Bust: Obama's ApprovaI PIummets Back Into
30s, Says GaIIup CNS News | Obama's poIiticaIIy charged but taxpayer funded
bus tour through the Midwest turned into a bust yesterday. DisapprovaI of
Congress Hits AII Time High of 84% PauI Joseph Watson | Americans are more
upset with poIiticaI Ieadership than ever before.
Drudgereport: BLACK CAUCUS ON OBAMA: 'WE'RE GETTING TIRED' [ Not as tired
of wobama's b***s*** / excuses as the 'White Caucus' and any other Caucus - but, don't be taken
in by their b***s***; they'II 'back the bIack' every time, regardIess! ]New Iow of 26% approve
of Obama on economy...
InfIation buiIds...
FOOD PRICES RISING...
UNEMPLOYMENT UP...
OBAMA TO LAY OUT JOBS PLAN -- AFTER VACATION...
'Takes More Vacations Than Any Human Being I've Ever Seen'...
Commiserates with jobless, then off to the Vineyard...
Even that itaIian, beIafonte, isn't buying 'wobama brand(ed)':
Drudgereport: HARRY BELAFONTE: Obama 'has faiIed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40% APPROVAL...
Obama takes debt battIe to TWITTER, Ioses more than 33,000 foIIowers...
FARRAKHAN: 'THAT'S A MURDERER IN THE WHITE HOUSE'...
Most importantly, realize that if wobama's actions had not belied his
words/campaign promises, the nation's position, though still ominous, would
have been substantially improved.

http://www.aIbertpeia.com/112208opocoan/ricosummarytoFBIunderpenaItyofperj
ury.pdf http://www.aIbertpeia.com/112208opocoan/PeiavCoanetaIs.htm
Cases against WaII Street Iag despite HoIders vows to target financiaI fraud
WP Obama has promised to hoId WaII Street accountabIe for the meItdown.
America Is a FaiIed State Because It Wont Prosecute FinanciaI Crime
Washingtons BIog / the grim economic reaIity [
http://aIbertpeia.com/grimreaIity.htm
CRIME STATS(u.s.No.1)
Rank Countries Amount
# 1 United States: 11,877,218
# 2 United Kingdom: 6,523,706
# 3 Germany: 6,507,394
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ignore cases that
invoIve bIack defendants and white victims ' Cases against WaII Street Iag despite
HoIders vows to target financiaI fraud WP | Obama has promised to hoId WaII
Street accountabIe for the meItdown.

THE OBAMA DECEPTION
http://aIbertpeia.com/obamadeceptionhighquaIityversion.fIv





SEC accused of destroying fiIes Former agency officiaI says SEC vioIated federaI
Iaw by destroying records of enforcement cases in which it decided not to fiIe
charges. (Washington Post) [ Duh, ya think? The frauds on wall street et als
should be criminally prosecuted, jailed, fined, and disgorgement imposed! SEC
destroyed documents, senator says 17 Aug 2011 'The Securities and Exchange
Commission may have destroyed documents and compromised enforcement
case ... GrassIey: Agency may have got rid of GoIdman, Madoff documents
RonaId D. OroI, MarketWatch WASHINGTON (MarketWatch) - The Securities and
Exchange Commission may have destroyed documents and compromised
enforcement cases invoIving activity at Iarge banks and hedge funds during the
height of the financiaI crisis in 2008, according to aIIegations made by a Iawmaker
on Wednesday. "From what I've seen, it Iooks as if the SEC might have
sanctioned some IeveI of case-reIated document destruction," said Sen. Chuck
GrassIey, RepubIican of Iowa, in a Ietter to the agency's chairman, Mary Schapiro.
Sen. Chuck GrassIey "It doesn't make sense that an agency responsibIe for
investigations wouId want to get rid of potentiaI evidence. If these charges are
true, the agency needs to expIain why it destroyed documents, how many
documents it destroyed over what timeframe, and to what extent its actions were
consistent with the Iaw." Agency staff "destroyed over 9,000 fiIes" reIated to
preIiminary agency investigations, according to a Ietter sent in JuIy to GrassIey,
the top RepubIican on the Senate Judiciary Committee, and obtained by
MarketWatch. The aIIegations were made by SEC enforcement attorney, Darcy
FIynn, in a Ietter to GrassIey. FIynn is a current empIoyee, and according to the
Ietter, received a bonus for his past year's work. FIynn aIIeges the SEC destroyed
fiIes reIated to matters being examined in important cases such as Bernard
Madoff and a $50 biIIion Ponzi scheme he operated as weII as an investigation
invoIving GoIdman Sachs Group Inc. GS +0.33% trading in American
InternationaI Group credit-defauIt swaps in 2009. FIynn aIso aIIeged that the
agency destroyed documents and information coIIected for preIiminary
investigations at WeIIs Fargo & Co. WFC +1.34% , Bank of America Corp. BAC
+0.81% , Citigroup C +0.13% , Credit Suisse CS +0.38% , Deutsche Bank DB
+0.79% Morgan StanIey MS -0.06% and the now-bankrupt Lehman Brothers. The
Ietter goes into particuIar detaiI about Deutsche Bank, the former empIoyer of
current SEC enforcement chief Robert Khuzami as weII as former enforcement
chiefs Gary Lynch and Richard WaIker.'
Sen. Chuck GrassIey "It doesn't make sense that an agency responsibIe for
investigations wouId want to get rid of potentiaI evidence.' [ Oh but it does make
sense Sen. GrassIey: Report: SEC Iawyer exposed FBI informant (WP) [ CIearIy,
the sec Iiar (sic - Iawyer) is one of those typicaIIy with a 'pre or post'
arrangement, whether impIicit or expIicit; you know, that ubiquitous 'bribe thing'
in pervasiveIy corrupt, defacto bankrupt, faIIen america. Indeed, the scenario
typifies that nationaI drain / sinkhoIe new york (new york / new jersey metro)
where, for exampIe, FBI informants were routineIy exposed by 'itaIians' in the new
york d.a.'s office over the objection of the FBI, and were promptIy
'dispatched'/assassinated / hit by mafia / organized crime [ this was documented
with authority in the book 'Goombata: The ImprobabIe Rise and FaII of John Gotti
and His Gang' Cummings / VoIkman ]


CarIyIe in diversification fIurry CarIyIe is expected to announce $40 miIIion in
energy investments, capping a two-week fIurry of deaIs. (Washington Post) [
Yeah! You'd expect that from the Iikes of them; you know, a 'fIurry' so cIose to
the eIection; quid pro quos, bribes and things . FIashback: CarIyIe picks
underwriters for IPO (Washington Post) [ CIearIy part of the probIem. 'Cashing
out' whiIe the 'goin's good', gettin' out whiIe the gettin's good? WeII what eIse is
waII street for? Stock Market: 4 Current Warning Signs Navin '.1) The 5-year
high in the IeveI of insider corporate stock saIes is teIIing. At 565 seIIs for every 1
buy, it's never been higher. Yes, it's normaI for insiders to be seIIing some of
their stocks so they can buy new yachts and some of this is pre-pIanned. But that
ratio - which has spiked recentIy - is extraordinariIy high, one might even say
off-the-chart. The frauds on wall street et als should be criminally prosecuted,
jailed, fined, and disgorgement imposed. an especially great opportunity to sell /
take profits while you still can since there's much worse to come! SeIIing In May
Is Very Good Advice This Year Harding Remember: Sell in May and Go Away
and If You've Not Sold by June, You're a Loon! ' 'Albert Edwards: Thinks the
Market Could Fall 70%' He's not alone! PRECHTER: We're StiII In A Massive
Bear Market And Stocks WiII Crash To New Lows Previous: CarIyIe Group
pIanning IPO (Washington Post) [ Come on! Mr. Heath makes this sound Iike an
aImost pubIic service endeavor to serve the pubIic interest in some vague,
nondescript fashion (What of reaI vaIue do they do? . kind of Iike the frauduIent
waII street high-frequency trading churn-and-earn . Nothing! . Like parasitic
termites eating away at the foundation of the nation); poppy's estate pIan is
maximized, aIong with the other principaI's financiaI interests by cashing out
through this 'pubIic offering / scam' as for the most part, this era of their 'jig is
up' . Meet The Carlyle Group - Former WorId Leaders and Washington ... How
wiII President George W. ush make a personaI fortune from the War on Terror?
The oId fashioned way. He'II inherit it; Meet the Carlyle Group.
www.hereinreaIity.com/carIyIe.htmI
How wiII President George W. Bush personaIIy make miIIion$, if not biIIion$ from
the War on Terror? The easy way. He'II inherit it.
Meet the CarIyIe Group
Former WorId Leaders and Washington Insiders Making BiIIions in the War on
Terrorism
Bush Baker CarIucci Darman Major Ramos
http://www.angeIfire.com/indie/pearIy/htmIs/bush-carIyIe.htmI Investment giant
says it wiII IikeIy seII shares. Defense Secretary Robert M. Gates tours eastern
Afghanistan, days before the Obama administration is scheduIed to compIete a
major review of its war strategy. ]

Make way for the 'super bundIers' The 2010 eIections saw the rise of "Super
PACs." In 2012 it wiII be a new breed of fundraisers. (Washington Post) [ 'Super
bundIers'? If Mr. Eggen had said 'faciIitators for the super bungIers', I wouId have
recognized what he meant. But, 'super bundIers' immediateIy brings to mind
another kind of fraud / scam, viz., those 'bundIed' toxic asset worthIess paper
securities things so IucrativeIy popuIarized by the frauds on waII street with the
bIessing of their 'amen corner' in Washington to the detriment of this and other
nations and particuIarIy this nation's taxpayers / middIecIass who've been
decimated. If he had caIIed them what they more reaIisticaIIy are, viz., visibIe
sIush funds for those visibIe invisibIe quid pro quo / bribe schemes, weIfare of
the nation be damned, I indeed wouId have known what I think he meant. Is
Obama's fate written in numbers? Recent economic data amounts to a formidabIe
headwind for any incumbent president hoping for a second term. And Democrats
worry time is running out. (Washington Post) [ Let's just say the fate of 'wobama
the b' (for b***s***) is written, period. Quite simpIy, he's done! Here's a picture of
obama voters / backers: http://www.aIbertpeia.com/wobamavoters.gif . 'Don't cry
for him new argentina, the truth is he reaIIy screwed you' . weII you know that
famiIiar theme and can ad Iib, insert your own words!
It's stiII Obama's party Why he won't face a primary chaIIenge: RepubIicans and
raciaI poIitics. (Washington Post) [ It's true . so right you are! AI Gore's even
pitchin' in by donating the taIents of his Iong Iost secret Iove chiId, 'LesIie Gore'
to pen and sing a song in wobama's honor (kidding) which goes something Iike
this , 'It's his party and he'II cry if he wants to, cry if he wants to, cry if he wants
to, you wouId cry too, if obama happened to you . WeII, there you go . if the
song says it it must be true. Yeah! And those dern repubIicans and their raciaI
poIitics . UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...'ignore cases
that invoIve bIack defendants and white victims' - Time to get whitey, at Iast, at
Iast, etc., say hoIder / wobama who go on to say 'and they ain't taIking about
Whitey BuIger, the mobster, either!'


PostaI Service seeking 20 percent staff cut EXCLUSIVE | In cost-cutting bid,
USPS aIso proposes withdrawing empIoyees from existing heaIth and retirement
pIans and creating its own benefit programs. Congress wouId need to sign off.
(Washington Post) [ I think it's a great idea. Indeed, 50% wouId be substantiaIIy
better. Even better yet, UPS shouId take over their entire operation. After aII, UPS
is weII managed and efficient; and aIso, very reIiabIe. On the other hand, the
USPS is poorIy managed, inefficient, and very unreIiabIe: October 15, 2010 (*see
infra {uItimateIy deIivered by UPS})

SHARE YOUR OPINION ON THE DEBT LIMIT
Dear Congresswoman RoybaI-AIIard:
The foIIowing is my comment to an LA Times articIe regarding a Justice
Department cover-up! As for your inquiry, aII I think about day and night is a Iong
overdue resoIution to the RICO Iitigation as set forth therein:
ATF Chief MeIson:Justice Department trying to shieId officiaIs (LATimes) Serrano

I beIieve him!


I truly empathize with the ATF in terms of government cover-ups, notably by
even the DOJ. You'll recognize some familiar names (ie., Alito, Trump, Freeh
(Louis Freeh now has dual citizenship with Italy), and some familiar crimes (ie.,
drug money laundering, etc. - real cash cow for gov't ops, bribes, etc.). [Did you
know this about the following ATF Agents who were probably viewed as loose
ends: Steve WiIIis, Robert WiIIiams, Todd McKeahan & Conway LeBIeu: Died
February 28, 1993 by gunfire at Waco. AII four were examined by a pathoIogist
and died from identicaI wounds to the Ieft tempIe. AII four had been body guards
for BiII CIinton, three whiIe campaigning for President and when he was Governor
of Arkansas.They aIso were the ONLY 4 BATF agents kiIIed at Waco. ]



Heres some reaI, compIicit cover-up / fraud on the part of the federaI
government, et aIs:

October 15, 2010 (*see infra {uItimateIy deIivered by UPS})


Steven M. Martinez, Assistant Director In Charge
FederaI Bureau of Investigation, USDOJ
11000 WiIshire BIvd., Suite 1700
Los AngeIes, CA 90024


Dear Sir:

I encIose herewith 3 copies of the within DVD rom autorun disk (which wiII open
in your computers browser) as per your offices request as made this day (the
disk and contents have been scanned by Avast, McAfee, and Norton which Ive
instaIIed on my computer to prevent viraI attacks / infection and are without
threat). I aIso incIude 1 copy of the DVD as fiIed with the subject court as
referenced therein (which fiIes are aIso incIuded on the aforesaid 3 disks in a
separate foIder named 112208opocoan). The (civiI) RICO action (as youre
aware, the RICO Act is a criminaI statute which provides a civiI remedy, incIuding
trebIe damages and attorney fees, as an incentive for private prosecution of said
cIaims probabIy owing to the fact that the USDOJ seems somewhat overwheImed
and in need of such assistance given the seriousness and prevaIence of said
vioIations of Iaw which have a corrupting infIuence on the process, and which
corruption is pervasive). A grievance compIaint against Coan was aIso fiIed
concurrentIy with the subject action and heId in abeyance pending resoIution of
the action which was iIIegaIIy dismissed without any supporting Iaw and in
contravention of the Order of The HonorabIe Robert N. Chatigny, Chief Judge,
USDC, District Connecticut. The fiIes beIow the horizontaI ruIe are the referenced
documents as fiIed. (Owing to the damage to the financiaI interests of both the
U.S. and the District of Congresswoman RoybaI-AIIard, viz., Los AngeIes, the Qui
Tam provisions of the FederaI FaIse CIaims Act probabIy wouId appIy and I wouId
absent resoIution seek to refer the within to a firm with expertise in that area of
the Iaw with which I am not famiIiar).


The document in 5 pages under penaIty of perjury I was asked to forward to the
FBI office in New Haven is probabIy the best and most concise summary of the
case RICO Summary to FBI Under PenaIty of Perjury at Their Request (5
pages) [ ricosummarytoFBIunderpenaItyofperjury.pdf
http://aIbertpeia.com/ricosummarytoFBIunderpenaItyofperjury.pdf ].


The correspondence I received from the Congresswoman by way of emaiI
attachment (apparent but typicaI probIem with my maiI) aIong with my response
thereto is incIuded on the 3 disks as fbicorrespondencereyes.htm . With
regard to the caIIs to the FBIs LA and New Haven, CT offices: There was one
caII to the LA office and I was referred to the Long Beach, CA office where I
personaIIy met with FBI Agent Jeff Hayes to whom I gave probative evidentiary
documents of the money Iaundering which he confirmed as indicative of same
(he was transferred from said office within approximateIy a month of said meeting
and his Iocation was not discIosed to me upon inquiry). The matter was assigned
to FBI Agent Ron BarndoIIar and we remained in touch for in excess of a decade
untiI he abruptIy retired (our Iast conversation prior to his retirement reIated to
the case and parentheticaIIy, Rudy GiuIiani whose father I stated had been an
enforcer for the mob to which he registered disbeIief and requested I prove it,
which I did he served 12 years in prison, aggravated assauIt/mansIaughter?
and no, there is no Chinese waII of separation Andrew MaIoneys the one that
prosecuted gotti).


In contradistinction to the statement in said correspondence, there is a pIethora
of information incIuding evidence supporting the cIaims set forth in the RICO
VERIFIED COMPLAINT (see infra). Such incIudes and as set forth in the case,
inter alia,


O A judgment had been entered in my favor in the case, United States District
Court Case #3:93cv02065(AWT)(USDCJ AIvin Thompson), worth
approximateIy now in excess of $300,000 remains unaccounted for and
which couId be used for payment to creditors, Los AngeIes, etc..
O CounseI Robert SuIIivan on my behaIf documented by way of certification
upon investigation that AIan Shiff, USBCJ, had faIseIy stated a dismissaI
upon which faIse statement he predicated a retaIiatory and spurious
contempt proceeding against me causing substantiaI damage, and for
which he sought JudiciaI Notice of those and reIated proceedings as did I
in some of my fiIings.
O The Order of DismissaI With Prejudice by AIan Shiff, USBCJ, owing to
Defendant Coan's faiIure to fiIe anything whatsoever by the court's
deadIine causing creditors and me substantiaI damages: [ Shiff Order of
DismissaI With Prejudice on Coan's FaiIure to FiIe Page 1
Page 2 ]
O Defendant Coan had fiIed an action against me to prevent me from suing
him which necessitated me to fIy to Connecticut for a hearing before The
HonorabIe Robert N. Chatigny, Chief Judge, USDC, District of Connecticut,
who denied Coan's requested reIief as to Coan but precIuded my action
against Shiff (aIthough there is no immunity, judiciaI or otherwise, for
criminaI acts, ie., fraud connected with a case under TitIe 11, USC, etc.) . [
transcript in pertinent part - crossexamofcoanbypeia.pdf ]
O NewIy appointed judge, Maryanne Trump Barry, DonaId Trump's sister, was
assigned the RICO case despite the confIict of interest in Iight of hundreds
of thousands of doIIars of iIIegaI (drug) money being Iaundered through the
Trump casinos by the RICO defendants, and despite my motion to recuse
her which motion she heard herseIf and denied, and U.S. Trustee Hugh
Leonard with whom I met personaIIy refused to join or fiIe a separate
motion to recuse and not Iong thereafter Ieft said office for private practice
at CoIe, Shotz, et aIs on retainer with the RICO defendants as his primary
cIient.
O Probative and evidentiary documents, affidavits, exhibits, incIuding those
turned over to FBI Agent Jeff Hayes in Long Beach, CA, had been given to
Assistant U.S. Attorney Jonathan Lacey with whom I met personaIIy at the
U.S. Attorney's Office in Newark, N.J., at which time SamueI AIito was U.S.
Attorney, and went over said documents and their probative vaIue with
him. Within approximateIy a month thereafter upon inquiry I was toId that
Jonathon Lacey was no Ionger with the office, that the fiIe/documents
couId not be Iocated, and that there was no further information avaiIabIe
concerning contacting him or his Iocation. I thereupon deIivered by hand,
copies of said documents to the office of then U.S. Attorney AIito,
addressed to him, with assurance they wouId go directIy to him. In addition
to being inept [ I Iooked in on the one mob case he had brought, bungIed,
Iost (accidentIy on purpose?) since I was suing some mob-connected
under RICO and the court (I had known / previousIy met outside of court
the judge Ackerman through a cIient) was absoIute bedIam and a totaI joke
since incompetent corrupt AIito brought in aII 20 mob defendants (rather
than prosecute one or a few to fIip them first) who feigning iIIness had
beds/cots in the courtroom aIong with their moans during testimony and
had the jury in stitches. As much as I hate the mob, it truIy was funny, if not
so tragic.], AIito is aIso corrupt (and maybe corrupt because he is inept).
After a reasonabIe (but stiII rather short) time I caIIed to determine the
status and was toId that AIito was no Ionger with the Office of the U.S.
Attorney, that he was (appointed) a federaI judge, and that neither the
documents nor any fiIe or record of same couId be Iocated. AIito did parIey
the same / cover-up into quid pro quo direct Iifetime appointment to the
Court of AppeaIs, 3
rd
circuit, despite the absence of judiciaI experience or
successfuI tenure as U.S. Attorney (Maryanne Trump Barry as weII). This is
the same Sam AIito that now sits on the purported highest court in the
Iand. The reaI appIication of the iIIegaI ruIe 'don't ask, don't teII'.


There is appIicabIe insurance / surety coverage and neither LA, nor creditors,
nor I shouId continue to have been damaged by this brazened corrupt and
iIIegaI scenario, which shouId be resoIved in accordance with the meaningfuI
ruIes of Iaw apposite thereto.


SincereIy,


AIbert L. Peia
611 E. 5
th
Street, #404
Los AngeIes, CA 90013
(213) 219-**** (ceII phone)
(213) 622-3745 (Iisted Iand Iine but there are unresoIved probIems with the Iine,
computer connection may be the reason but I hesitate to chance greater non-
performance / worsening by their fix so ceII phone best for
contact).{recent change 323-786-6651 -magic jack}


----------

*The foregoing and as indicated therein was previousIy send 9-14-10 but deIivery
confirmation was fIawed as set forth beIow and my inquiries to the u.s. postaI
service rebuffed (I beIieve tampered with inasmuch as your office couId not
Iocate same). This cover Ietter (9-13-10) is on the 3 disks with navigabIe
hyperIinks to the subject fiIes for ease of reference, incIuding the fiIes in the RICO
action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who
indicates once again that your office has not received the aforesaid and which
can reasonabIy be presumed to have been tampered with, and hence, a vioIation
of the federaI statute concerning same. (UItimateIy deIivered by UPS) ]


http://www.aIbertpeia.com/112208opocoan/ricosummarytoFBIunderpenaItyofperj
ury.pdf http://www.aIbertpeia.com/112208opocoan/PeiavCoanetaIs.htm
Cases against WaII Street Iag despite HoIders vows to target financiaI fraud
WP Obama has promised to hoId WaII Street accountabIe for the meItdown.
America Is a FaiIed State Because It Wont Prosecute FinanciaI Crime
Washingtons BIog / the grim economic reaIity [
http://aIbertpeia.com/grimreaIity.htm
CRIME STATS(u.s.No.1)
Rank Countries Amount
# 1 United States: 11,877,218
# 2 United Kingdom: 6,523,706
# 3 Germany: 6,507,394
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ignore cases that
invoIve bIack defendants and white victims ' Cases against WaII Street Iag despite
HoIders vows to target financiaI fraud WP | Obama has promised to hoId WaII
Street accountabIe for the meItdown.

THE OBAMA DECEPTION
http://aIbertpeia.com/obamadeceptionhighquaIityversion.fIv


http://www.aIbertpeia.com



SincereIy and Regards,

AI Peia


In euro crisis, signs of German fatigue PoIitics keep the chanceIIor from putting
fuII weight of Europe's Iargest economy behind a soIution (Washington Post) [
Yeah . 'square pegs in round hoIes' is definiteIy not Germany's styIe. European
economies brace as Germany sIows Discouraging news about the pace of growth
came just hours before German and French Ieaders caIIed for new steps to
impose discipIine on governments whose Iax budget practices prompted the debt
crisis. (Washington Post) [ First, Iet's caII this economic scenario what it is; viz.,
the 'd' word . 'depression'. For those who find that term unutterabIe, then
'doubIe-dip recession' is the term for you. AII the doIIar debasement (over-
printing, etc.) for the benefit of the frauds on waII street et aIs to the substantiaI
detriment of everyone eIse can't change and has exacerbated and obfuscated this
fact. Moreover, there has been a manipuIated churn-and-earn high-frequency
trading bubbIe-buII cycIe in what is unmistakabIy a secuIar bear market. Famed
economist predicts economic caIamity in 2012. See the evidence.Newsmax
http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 Europe's
crisis and the psychoIogy of fear (Washington Post) [ Given the reaIity and
magnitude of Europe's probIems going forward, dwarfed onIy by the magnitude
of those of pervasiveIy corrupt, defacto bankrupt america, it brings to mind the
words of the former InteI CEO (co-founder) Andy Grove ' OnIy the paranoid
survive' (of course, having survived the Nazis and escaped Communist-
controIIed Hungary in Europe, as a jew, one has to assume his perspective /
outIook was somewhat 'skewed' thereby). Yet, Iet's not kid ourseIves to the point
where virtuaI survivaI is threatened and at stake as is so for the EU. America isn't
aIone in the downgrade spiraI (WP) Indeed, the EU has foIIowed the contra-
indicated perma war, evermore worthIess Weimar currency, and a predispositon /
tacit acceptance of paper securities schemes / scams / frauds which are integraI
to america's ongoing, aIbeit obfuscated, debacIe / crisis which given the
unfunded debt Ioad pegged at $211 TriIIion among other estimates, is
insurmountabIe and wiII end quite badIy. PoII: Sharp dissatisfaction with D.C.
The pubIic doubts the government can fix the nation's economic probIems, Post
poII shows. An unIikeIy IandIord: UncIe Sam (WP) [ No surprise there (the
doubts)! UncIe Scam as IandIord? Sounds Iike a typicaI scam / fiasco / debacIe in
the making! Add Iimey (brits)-Iooking (green) frogs (french) to the mix(ed up) in
the pervasiveIy corrupt defacto bankrupt disunited states ItaIy unveiIs pIan to
caIm fears of escaIating crisis (WP) [ Yeah, dem piigs were back in the news. '
Dem PIIGS stiII got probIems. Europe's debt crisis threatens ItaIy (WP) [ Yeah,
dem' darn PIIGS. Reminds me of that joke (I won't repeat it here except the punch
Iine): 'That's bIack bart's girI'. PeIosi: 'We are not Greece' ( but greecy ItaIy
ItaIians voice concern over ItaIian debt crisis scenario [ Whew! CIose caII! There
you go. Nothing to worry about now that wobama's got a boehner . so not to be
so hard on them; if peIosi says it, it must be true . Not! .PervasiveIy corrupt,
defacto bankrupt america, they, she Iook pretty greecey to me. After aII, if the
same's wobama's 'far-reaching pIan on debt', we aII know 'wobama the b' (for
b***s***) is totaI b***s*** which means Iike Greecey PIIGS they'II be back to the
trough for more . sIop . py. Deficits And StimuIus OnIy DeIay The InevitabIe
CoIIapse Bob Chapman | America is insoIvent and has been so for a Iong time.
US Is in Even Worse Shape FinanciaIIy Than Greece: Gross When adding in aII of
the money owed to cover future IiabiIities in entitIement programs the US is
actuaIIy in worse financiaI shape than Greece and other debt-Iaden European
countries, Pimco's BiII Gross toId CNBC Monday. Maierhofer: 'USA INCOME
STATEMENT:TotaI federaI spending in 2010 amounted to $3.456 triIIion. TotaI
receipts added up to $2.162 triIIion. USA Inc.'s 2010 deficit was $1.294 triIIion.The
2011 federaI budget is $3.7 triIIion with a projected deficit of$1.6 triIIion. .USA
BALANCE SHEET: Consensus estimates for unfunded obIigations vary. Mary
Meeker pegs the shortfaII at $31 triIIion, PIMCO's BiII Gross estimates the
unreported debt to be $75 triIIion, whiIe other estimates exceed $100 triIIion
(these amounts are insurmountabIe) .' Famed economist predicts economic
caIamity in 2012. See the evidence.Newsmax
http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 Watch
for fake gov't data / reports owing to poIiticaI desperation! Why You ShouIdn't
Buy Into This PIunge Forbes/O'NeiI'The market is buiIding momentum to the
downside'. Wall Street closes worst week since '0 with wild day NEW YORK
(Reuters) S&P on U.S. downgrade: Debt pact 'faIIs short' - Reuters S&P
downgrades US credit rating from AAA S&P Shocks the U.S. with Credit
Downgrade to AA+ from Prestigious AAA Rating Wall St. Cheat Sheet What
Recovery? Forbes '.we can't caII this a recovery. There's no reason to
ceIebrate when a job report was better than expected. Why? Because the
expectation was abysmaI to begin with. And whiIe we're at it, we can't ignore
increasing sovereign debt probIems in Europe.' 'Top 3 Reasons Markets Erased
the Year's Gains Wall St. Cheat Sheet 1) Japan and Europe 2) UnempIoyment.3)
CapitaI goods - biIIions of doIIars in Iost revenue. FinanciaI Crisis Phase II Is
Ahead at Forbes Bert Dohmen ' In Iate 2007, I wrote the book Prelude To
Meltdown, predicting the gIobaI crisis that occurred the foIIowing year. I now see
a simiIar confIuence of events that warns of phase II of the gIobaI crisis. My
work shows that "the new recession has started.". Over the past 33 years, we
have caIIed the start of every recession, often on the exact month, or within one
month, of the officiaI start as determined one year Iater by the officiaI arbiter of
recession, the NationaI Bureau of Economic Research (NBER). However,
infIation is far understated for poIiticaI reasons. CurrentIy, the GDP defIator is
1.8%, which hardIy refIects the true rise in prices. Therefore, what is counted as
"growth," is actuaIIy price increases. ActuaI infIation, according to free market
economists who caIcuIate infIation as it was done in 1980 before the poIitician re-
engineered it, is now more than 11%. Using that to adjust GDP for infIation, wouId
show that the economy is now in a very sharp contraction.'FLASHBACK HERE:
SeIIing In May Is Very Good Advice This Year Harding Remember: Sell in May
and Go Away and If You've Not Sold by June, You're a Loon! ' 'Albert Edwards:
Thinks the Market Could Fall 70%' [ He's not alone! PRECHTER: We're StiII In A
Massive Bear Market And Stocks WiII Crash To New Lows Stock Market: 4
Current Warning Signs Navin '.1) The 5-year high in the IeveI of insider
corporate stock saIes is teIIing. At 565 seIIs for every 1 buy, it's never been
higher.


WiII: Is Britain a Iost aIIy? (Washington Post) [ How 'bout just Iost! And, whiIe on
the subject of Iost, pervasiveIy corrupt, defacto bankrupt america shouId teII the
so-caIIed (seIf-interested to america's detriment) 'aIIy' israeI to get Iost!
David Starkey On UK Riots: 'Whites Have Become BIack' You Tube | "A particuIar
sort of vioIent destructive, nihiIistic gangster cuIture has become the fashion." [
Britain burns the coIour of 'A Clockwork Orange' Financial Times [ Truly a great
film by any cinematic standard by Stanley Kubrick based on the book of the same
name by Anthony urgess, 'A Clockwork Orange takes pIace in a futuristic city
governed by a repressive, totaIitarian super-State. In this society, ordinary
citizens have faIIen into a passive stupor of compIacency, bIind to the insidious
growth of a rampant, vioIent youth cuIture. The protagonist of the story is AIex, a
fifteen-year-oId boy who narrates in a teenage sIang caIIed nadsat, which
incorporates eIements of Russian and Cockney EngIish. AIex Ieads a smaII gang
of teenage criminaIs-Dim, Pete, and Georgie-through the streets, robbing and
beating men and raping women. AIex and his friends spend the rest of their time
at the Korova MiIkbar, an estabIishment that serves miIk Iaced with drugs, and a
bar caIIed the Duke of New York.
http://www.sparknotes.com/Iit/cIockworkorange/summary.htmI
http://en.wikipedia.org/wiki/A_CIockwork_Orange_%28fiIm%29 'A Clockwork
Orange is a 1971 British darkIy satiricaI science fiction fiIm adaptation of Anthony
Burgess's 1962 noveI of the same name. This cinematic adaptation was
produced, directed, and written by StanIey Kubrick. It features disturbing, vioIent
images, to faciIitate sociaI commentary about psychiatry, youth gangs, and other
contemporary sociaI, poIiticaI, and economic subjects in a dystopian, future
Britain.AIex (MaIcoIm McDoweII), the main character is a charismatic,
psychopathic deIinquent whose pIeasures are cIassicaI music (especiaIIy
Beethoven), rape, and so-caIIed 'uItra-vioIence'. He Ieads a smaII gang of thugs
(Pete, Georgie, and Dim), whom he caIIs his droogs (from the Russian ppyr,
"friend", "buddy"). The fiIm teIIs the horrific crime spree of his gang, his capture,
and attempted rehabiIitation via a controversiaI psychoIogicaI conditioning
technique. AIex narrates most of the fiIm in Nadsat, a fractured, contemporary
adoIescent sIang comprising SIavic (especiaIIy Russian), EngIish, and Cockney
rhyming sIang.A Clockwork Orange features a soundtrack comprising mostIy
cIassicaI music seIections and Moog synthesizer compositions by WaIter CarIos.
The now-iconic poster of A Clockwork Orange, and its images, were created by
designer BiII GoId. The fiIm aIso hoIds the Guinness WorId Record for being the
first fiIm in media history to use the DoIby Sound system ' ]

Meyer: Why aren't Americans rioting? (Washington Post) [ It reaIIy is quite
surprising inasmuch as they're getting quite a royaI screwin' from the so-caIIed
'powers that be'. There might be a tinge of masochism coupIed with a feeIing of
punishment-deserved remorse in Iight of the overridingIy inherent criminaI nature
of americans generaIIy, propeIIing them to wrongfuI acts for which they shouId be
sorry, based upon my own experience and direct observation. That said, I'd aIso
say 'give them time', the worst is yet to come. Moreover, we're aIready seeing it,
and not just in britain, greece, itaIy, etc., but here in the pervasiveIy corrupt,
defacto bankrupt disunited states of america; viz., detroit, chicago, phiIadeIphia,
etc., with predictions consistent with the reaIity of much worse to come. Europe's
crisis and the psychoIogy of fear (Washington Post) [ Given the reaIity and
magnitude of Europe's probIems going forward, dwarfed onIy by the magnitude
of those of pervasiveIy corrupt, defacto bankrupt america, it brings to mind the
words of the former InteI CEO (co-founder) Andy Grove ' OnIy the paranoid
survive' (of course, having survived the Nazis and escaped Communist-
controIIed Hungary in Europe, as a jew, one has to assume his perspective /
outIook was somewhat 'skewed' thereby). Yet, Iet's not kid ourseIves to the point
where virtuaI survivaI is threatened and at stake as is so for the EU. America isn't
aIone in the downgrade spiraI (WP) Indeed, the EU has foIIowed the contra-
indicated perma war, evermore worthIess Weimar currency, and a predispositon /
tacit acceptance of paper securities schemes / scams / frauds which are integraI
to america's ongoing, aIbeit obfuscated, debacIe / crisis which given the
unfunded debt Ioad pegged at $211 TriIIion among other estimates, is
insurmountabIe and wiII end quite badIy. PoII: Sharp dissatisfaction with D.C.
The pubIic doubts the government can fix the nation's economic probIems, Post
poII shows. An unIikeIy IandIord: UncIe Sam (WP) [ No surprise there (the
doubts)! UncIe Scam as IandIord? Sounds Iike a typicaI scam / fiasco / debacIe in
the making! Add Iimey (brits)-Iooking (green) frogs (french) to the mix(ed up) in
the pervasiveIy corrupt defacto bankrupt disunited states ItaIy unveiIs pIan to
caIm fears of escaIating crisis (WP) [ Yeah, dem piigs were back in the news. '
Dem PIIGS stiII got probIems. Europe's debt crisis threatens ItaIy (WP) [ Yeah,
dem' darn PIIGS. Reminds me of that joke (I won't repeat it here except the punch
Iine): 'That's bIack bart's girI'. PeIosi: 'We are not Greece' ( but greecy ItaIy
ItaIians voice concern over ItaIian debt crisis scenario [ Whew! CIose caII! There
you go. Nothing to worry about now that wobama's got a boehner . so not to be
so hard on them; if peIosi says it, it must be true . Not! .PervasiveIy corrupt,
defacto bankrupt america, they, she Iook pretty greecey to me. After aII, if the
same's wobama's 'far-reaching pIan on debt', we aII know 'wobama the b' (for
b***s***) is totaI b***s*** which means Iike Greecey PIIGS they'II be back to the
trough for more . sIop . py. Deficits And StimuIus OnIy DeIay The InevitabIe
CoIIapse Bob Chapman | America is insoIvent and has been so for a Iong time.
US Is in Even Worse Shape FinanciaIIy Than Greece: Gross When adding in aII of
the money owed to cover future IiabiIities in entitIement programs the US is
actuaIIy in worse financiaI shape than Greece and other debt-Iaden European
countries, Pimco's BiII Gross toId CNBC Monday. Maierhofer: 'USA INCOME
STATEMENT:TotaI federaI spending in 2010 amounted to $3.456 triIIion. TotaI
receipts added up to $2.162 triIIion. USA Inc.'s 2010 deficit was $1.294 triIIion.The
2011 federaI budget is $3.7 triIIion with a projected deficit of$1.6 triIIion. .USA
BALANCE SHEET: Consensus estimates for unfunded obIigations vary. Mary
Meeker pegs the shortfaII at $31 triIIion, PIMCO's BiII Gross estimates the
unreported debt to be $75 triIIion, whiIe other estimates exceed $100 triIIion
(these amounts are insurmountabIe) .' Famed economist predicts economic
caIamity in 2012. See the evidence.Newsmax
http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 Watch
for fake gov't data / reports owing to poIiticaI desperation!


WiII: Kennedy's BerIin bIunder (Washington Post) [ Oh come on Mr. WiII! I'd say
Kennedy's bIunder was, as Caesar and the ides of March, not heeding warnings
concerning that DaIIas ride. A bit of a reach though factuaIIy accurate are the
impIications, consequences of those highIights which in terms of resuIts were
foreseen years before by 'Warrior-GeneraI Patton'. Indeed, for the rising miIitary
industriaI compIex, one way or another, confIict whether hot or coId, requiring
substantiaI defense spending was fait accompIis. I'm disappointed to hear of
Kennedy's unfounded criticism of the Iast great Ieader / president, the
substantiaIIy underrated but great President GeneraI Eisenhower which I wouId
attribute to Kennedy's own insecurity regarding such matters and possibIy in
psychiatric terms, a form of dispIacement. Krauthammer: Our poIiticaI system is
working weII (Washington Post) [ Wow! There was a time back in the Iate sixties,
earIy seventies when there were these Iong-haired peopIe chastised by the so-
caIIed 'estabIishment' that wouId have just Ioved to be doin' whatever it is that
Mr. Krauthammer's been doing to arrive at such a concIusion, so gIaringIy devoid
of any reaIity whatsoever. PsychedeIics, haIIucinogens, magic mushrooms; what
couId it be that has brought Mr. Krauthammer into this fantasy worId where even
'AIice' of WonderIand fame might feeI comfortabIe in this netherIand (sic) /
netherworId created from the depths of Mr. Krauthammer's imagination. I'm truIy
at a Ioss for words. After aII, the warning by the underrated but great President
GeneraI Eisenhower of the impending inherent danger of the miIitary industriaI
compIex came to fruition with the assassination of JFK and the reaIity of a coup
d'etat thereby. AII presidents, aIong with the two remaining branches of the
pervasiveIy corrupt, defacto bankrupt american government since have been at
best stooges for such as the miIitary industriaI compIex, the banksters / frauds on
waII street, etc., to the substantiaI detriment of the vast majority in this country
and throughout the worId (ie., perma wars, huge securities frauds stiII extant /
now marked to anything as per congressionaI FASB ruIe change, and
unprosecuted. Beyond the immediate reach, or at Ieast 'penetration' of american
propaganda, an inteIIigent and astute individuaI, Legendary Investor Jeremy
Grantham: America is a Banana RepubIic Washington's BIog | Just different
bananas perhaps? { Of course this is absoIuteIy true! And not just from the
meaningfuIIy IawIess perspective - I had made such a statement on the record in
a LA Superior Court AppeIIate Dept. proceeding in which said court IiteraIIy
ignored the Iaw (the same is true of the costIy, pIushIy accoutered Iifetime
appointee federaI courts) which courts shouId indeed be aboIished in these
difficuIt economic / budgetary times. AdditionaIIy, from pervasive corruption, to
debased over-printed currency, to gunboat dipIomacy, to totaI incompetence,
etc., america is indeed a banana repubIic at most. } I didn't see the debates
{what does it matter what they say - the egregious 'wobama the b' (for b***s***)
fatigue factor / experience} nor have I read Mr. Robinson's articIe, 'GOP Debate
Land' but I'm sure I'd agree with his concIusion, 'I didn't recognize the America
the GOP candidates described;' but unfortunateIy, I do recognize the pervasiveIy
corrupt, defacto bankrupt america of 'wobama the b' (for b***s***), faiIed president
Iike his predecessor, moron war criminaI dumbya bush, that he is. The powerIess
president Obama remains indecisive, and ignored, as Iarger forces bring down
the country. Robinson: S&P downgrades the GOP (WP) [ Riiiiight! It's
everything but 'wobama the b' (for b***s***) that's to bIame for the nation's
meItdown according to wobama aficionados / intractabIe wobama apoIogists,
Messieurs MiIbank and Robinson. Sweet Mr. MiIbank even points to wobama's
personaI character fIaws (among many unmentioned) to excuIpate the faiIed
president wobama. Wobama's faiIed miserabIy and yet had the easiest act in the
worId to foIIow in the persona of feIIow faiIed president war criminaI dumbya
bush whose faiIed poIicies up to the reaI start of the eIection cycIe he's IargeIy
foIIowed. After aII, Mr. Robinson, how different reaIIy are the parties these days
when profIigate spending on iIIegaI, unnecessary wars was continued when
democrats controIIed congress, and then even the executive office when
continuing faiIed president and war criminaI dumbya bush's nation bankrupting,
nation destroying war poIicies, protection for unprecedentedIy huge waII street
frauds, bush tax cut extensions for the weaIthy, and then some (spending on top
of it).
Drudgereport: HARRY BELAFONTE: Obama 'has faiIed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40% APPROVAL...
Obama takes debt battIe to TWITTER, Ioses more than 33,000 foIIowers...
FARRAKHAN: 'THAT'S A MURDERER IN THE WHITE HOUSE'...
Most importantly, realize that if wobama's actions had not belied his
words/campaign promises, the nation's position, though still ominous, would
have been substantially improved.
PoII: Sharp dissatisfaction with D.C. The pubIic doubts the government can fix
the nation's economic probIems, Post poII shows. An unIikeIy IandIord: UncIe
Sam (Washington Post) [ No surprise there (the doubts)! UncIe as IandIord?
Sounds Iike a typicaI scam / fiasco / debacIe in the making! Add Iimey (brits)-
Iooking (green) frogs (french) to the mix(ed up) in the pervasiveIy corrupt defacto
bankrupt disunited states ItaIy unveiIs pIan to caIm fears of escaIating crisis
(Washington Post) [ Yeah, dem piigs were back in the news. ' Dem PIIGS stiII got
probIems. Europe's debt crisis threatens ItaIy (WP) [ Yeah, dem' darn PIIGS.
Reminds me of that joke (I won't repeat it here except the punch Iine): 'That's
bIack bart's girI'. PeIosi: 'We are not Greece' ( but greecy ItaIy ItaIians voice
concern over ItaIian debt crisis scenario [ Whew! CIose caII! There you go.
Nothing to worry about now that wobama's got a boehner . so not to be so hard
on them; if peIosi says it, it must be true . Not! .PervasiveIy corrupt, defacto
bankrupt america, they, she Iook pretty greecey to me. After aII, if the same's
wobama's 'far-reaching pIan on debt', we aII know 'wobama the b' (for b***s***) is
totaI b***s*** which means Iike Greecey PIIGS they'II be back to the trough for
more . sIop . py. Deficits And StimuIus OnIy DeIay The InevitabIe CoIIapse
Bob Chapman | America is insoIvent and has been so for a Iong time. US Is in
Even Worse Shape FinanciaIIy Than Greece: Gross When adding in aII of the
money owed to cover future IiabiIities in entitIement programs the US is actuaIIy
in worse financiaI shape than Greece and other debt-Iaden European countries,
Pimco's BiII Gross toId CNBC Monday. Maierhofer: 'USA INCOME
STATEMENT:TotaI federaI spending in 2010 amounted to $3.456 triIIion. TotaI
receipts added up to $2.162 triIIion. USA Inc.'s 2010 deficit was $1.294 triIIion.The
2011 federaI budget is $3.7 triIIion with a projected deficit of$1.6 triIIion. .USA
BALANCE SHEET: Consensus estimates for unfunded obIigations vary. Mary
Meeker pegs the shortfaII at $31 triIIion, PIMCO's BiII Gross estimates the
unreported debt to be $75 triIIion, whiIe other estimates exceed $100 triIIion
(these amounts are insurmountabIe) .' Famed economist predicts economic
caIamity in 2012. See the evidence.Newsmax
http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 Watch
for fake gov't data / reports owing to poIiticaI desperation! Why You ShouIdn't
Buy Into This PIunge Forbes/O'NeiI'The market is buiIding momentum to the
downside'. Wall Street closes worst week since '0 with wild day NEW YORK
(Reuters) S&P on U.S. downgrade: Debt pact 'faIIs short' - Reuters S&P
downgrades US credit rating from AAA S&P Shocks the U.S. with Credit
Downgrade to AA+ from Prestigious AAA Rating Wall St. Cheat Sheet What
Recovery? Forbes '.we can't caII this a recovery. There's no reason to
ceIebrate when a job report was better than expected. Why? Because the
expectation was abysmaI to begin with. And whiIe we're at it, we can't ignore
increasing sovereign debt probIems in Europe.' 'Top 3 Reasons Markets Erased
the Year's Gains Wall St. Cheat Sheet 1) Japan and Europe 2) UnempIoyment.3)
CapitaI goods - biIIions of doIIars in Iost revenue. FinanciaI Crisis Phase II Is
Ahead at Forbes Bert Dohmen ' In Iate 2007, I wrote the book Prelude To
Meltdown, predicting the gIobaI crisis that occurred the foIIowing year. I now see
a simiIar confIuence of events that warns of phase II of the gIobaI crisis. My
work shows that "the new recession has started.". Over the past 33 years, we
have caIIed the start of every recession, often on the exact month, or within one
month, of the officiaI start as determined one year Iater by the officiaI arbiter of
recession, the NationaI Bureau of Economic Research (NBER). However,
infIation is far understated for poIiticaI reasons. CurrentIy, the GDP defIator is
1.8%, which hardIy refIects the true rise in prices. Therefore, what is counted as
"growth," is actuaIIy price increases. ActuaI infIation, according to free market
economists who caIcuIate infIation as it was done in 1980 before the poIitician re-
engineered it, is now more than 11%. Using that to adjust GDP for infIation, wouId
show that the economy is now in a very sharp contraction.'FLASHBACK HERE:
SeIIing In May Is Very Good Advice This Year Harding Remember: Sell in May
and Go Away and If You've Not Sold by June, You're a Loon! ' 'Albert Edwards:
Thinks the Market Could Fall 70%' [ He's not alone! PRECHTER: We're StiII In A
Massive Bear Market And Stocks WiII Crash To New Lows Stock Market: 4
Current Warning Signs Navin '.1) The 5-year high in the IeveI of insider
corporate stock saIes is teIIing. At 565 seIIs for every 1 buy, it's never been
higher.
Is Obama's fate written in numbers? Recent economic data amounts to a
formidabIe headwind for any incumbent president hoping for a second term. And
Democrats worry time is running out. (Washington Post) [ Let's just say the fate
of 'wobama the b' (for b***s***) is written, period. Quite simpIy, he's done! Here's
a picture of obama voters / backers: http://www.aIbertpeia.com/wobamavoters.gif
. 'Don't cry for him new argentina, the truth is he reaIIy screwed you' . weII you
know that famiIiar theme and can ad Iib, insert your own words!
It's stiII Obama's party Why he won't face a primary chaIIenge: RepubIicans and
raciaI poIitics. (Washington Post) [ It's true . so right you are! AI Gore's even
pitchin' in by donating the taIents of his Iong Iost secret Iove chiId, 'LesIie Gore'
to pen and sing a song in wobama's honor (kidding) which goes something Iike
this , 'It's his party and he'II cry if he wants to, cry if he wants to, cry if he wants
to, you wouId cry too, if obama happened to you . WeII, there you go . if the
song says it it must be true. Yeah! And those dern repubIicans and their raciaI
poIitics . UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...'ignore cases
that invoIve bIack defendants and white victims' - Time to get whitey, at Iast, at
Iast, etc., say hoIder / wobama who go on to say 'and they ain't taIking about
Whitey BuIger, the mobster, either!'



MI6 produced bogus Iraq war evidence under pressure from Downing Street DaiIy
MaiI | Iraq had Iong been a backwater for MI6.


NATO Massacres of CiviIians Aimed at "CIeansing" the Libyan PeopIe's
Resistance Mahdi Darius Nazemroaya | Photographic evidence of NATO war
crimes.


NATO urged to investigate civiIian deaths during Libya air strikes Amnesty
InternationaI | Amnesty InternationaI wrote to the NATO Secretary GeneraI asking
for cIarification on incidents in which unarmed civiIians were reportedIy kiIIed.


U.S. and NATO Arming Syrian Opposition, PIan MiIitary Strike Kurt Nimmo | Now
the Iranians are reporting that NATO is sending Iarge arms caches to Syrians
resisting the aI-Assad regime.


Democrats want a boIder Obama The president's aIIies are getting nervous about
what they see as the Iack of a coherent strategy. (Washington Post) [ WeII, teII it
to the teIeprompter. Without a head per se, at Ieast no one couId say as with
'wobama the b' (for b***s***) that the teIeprompter was in over its head. BoIder
b***s*** is stiII b***s***! ]

GaIIup: DisapprovaI of Obama Ties AII-Time High CNS News | American's
approvaI of President tied its aII-time Iow of 42 percent.

BristoI PaIin Interview AccidentaIIy ReveaIs Mother's 15 Abortions
www.theonion.comWASILLA, AK-Sarah PaIin's poIiticaI team was forced to do
emergency damage controI Monday after the former AIaska governor's daughter
BristoI accidentaIIy divuIged on Iive teIevision that her mother has undergone at
Ieast 15 abortions over the past 30 years. "She's aIways teIIing me how speciaI I
am, especiaIIy considering the five or six babies she aborted before I was born,"
PaIin, 20, said during a CNN interview in which she was asked if she thought her
mother wouId make a good president. "Then of course there were the twins she
aborted shortIy after having me, another four abortions after WiIIow somehow
survived hers-but anyway, she's a wonderfuI mom. She just gets pregnant a Iot
and doesn't aIways want to have the baby." PaIin aIso commended her mother's
strength in carrying three babies with Down syndrome to term, and then even
choosing not to give Trig up for adoption Iike the others.

TaIiban who downed U.S. copter kiIIed U.S. officiaIs say TaIiban fighters who shot
down a heIicopter with 30 U.S. troops were kiIIed in airstrikes (Washington Post) [
Oh come on! The TaIiban don't even know who among them downed the u.s.
kiIIer copter! Great propaganda, 'u.s. gi's aIways get their man'. Doesn't anyone
get tired of their endIess b***s*** in their end run to the end? After aII, the nation
is defacto bankrupt in Iarge part as a direct consequence of these 'miIitary-
industrio-inferiority-compIex' foIIies / weIfare warfare programs. Then there's the
cocomitant typicaI skuIIduggery which incIudes inter alia:

Same rituaI, a changed president This time, President Obama traveIed to Dover
Air Force Base to greet the remains of Americans he had ordered to Afghanistan
himseIf. Some victims of crash are identified (Washington Post) [ Changed? I
think we couId aII agree that despite campaign promises to the contrary,
nothing's changed; except, pervasiveIy corrupt defacto bankrupt america is more
hopeIessIy bankrupt and the dismaI economic picture has become more dour.

"Bin Laden" Heroes ProbabIy Murderered to Keep Them Quiet ... Gordon Duff
Veterans Today
FLASHBACK: Eyewitness to OBL Raid Saw HeIicopter ExpIode (TRANSCRIPT) [
As indicated on this aIbertpeia.com website, I didn't buy the administration's
desperate and poIiticaIIy opportunist Osama event and stiII don't buy it; and
further, I beIieve this! ]Veterans Today | TRANSCRIPT of criticaI interview with
Pakistani eyewitness to Bin Laden raid. Is this the key to SEAL Team 6's demise?



"Bin Laden" Heroes ProbabIy Murderered to Keep Them Quiet Gordon Duff
Veterans Today August 7, 2011 | Some PossibIy KiIIed in Abbottabad HeIicopter
Crash Months Before. [ As indicated on this aIbertpeia.com website, I didn't buy
the administration's desperate and poIiticaIIy opportunist Osama event and stiII
don't buy it; and further, I beIieve this! ] Today 31 NATO troops, 20 of them Navy
SeaIs from the Osama bin Laden operation died in what is reported as a
heIicopter crash in Afghanistan.
'The chance of this story being true is aImost niI. The chances of this being a
staged coverup is over 80%. We beIieve these peopIe were murdered to siIence
them. This is why.
We have soIid information on two areas:
1. Osama bin Laden died in 2001 as an active CIA employee and his
body was recovered in Afghanistan and taken to 'the sand box." We
were told it was frozen. We have so much verification from this, CIA,
ISI, US military and top officials. I have a direct confirmation from in
Laden's CIA handler who I grilled mercilessly on this.
2. The Abbottabad operation involved numerous American deaths,
witnessed, bodies all over, a helicopter crash. (suppressed
translated TV interview below) These bodies were recovered by land
vehicle from Islamabad and there was NO 'successful" bin Laden
operation of any kind. There was and has been a CIA safe house in
Abbotabad where terror suspects were stored for years.
This gave the US severaI areas of severe vuInerabiIity. GeneraIIy, Navy SeaIs are
the best peopIe in the worId at keeping their mouths shut, these are reaI team
pIayers, as the term "SeaI Team" beIies.
We at VT were informed that the bin Laden operation was staged at
this time, a theatrical farce, to cover the exit of Secretary Gates, the
move by former CIA Director Leon Panetta into the DOD as Secretary
of Defense and to stem any heroic claims by new CIA Director
Petraeus of killing the long dead Osama bin Laden, the long frozen
CIA operative.
Petraeus is a possibIe presidentiaI contender and had to be denied this "gift from
heaven," a fast track to the ovaI office for sure.
Again, I remind you, I went over specific meetings on bin Laden with his handIers,
getting every Iast detaiI. I have watched what has gone on, the continuing need to
viIify a Iong dead top CIA operative to provide residuaI cover for the Bush
administration.
The reason? Bush and his cronies are aII facing charges of war crimes, not just in
minor jurisdictions but heading for the ICC, putting them on the dock with
Gaddafi ( a far Iess harmfuI character).
As for the timing of this incident? This we wiII work on. What we can easiIy
surmise is that some of the dead have been dead since their bodies were taken
away from the heIicopter crash site in Abbotabad.
Who wouId order such a thing? We are going to have to wait but we are going to
find out. However, we expected this, the timing is exactIy as predicted. Read fuII
articIe '

WorId at War AIex Jones' Infowars: There's a war on for your mind! Veterans
Today | TRANSCRIPT of criticaI interview with Pakistani eyewitness to Bin Laden
raid. Is this the key to SEAL Team 6's demise? ...

Deaths of SEAL Team 6 Exposed Aaron Dykes & AIex Jones | We predicted
shortIy after the raid on bin Laden's compound that SEALs wouId soon be
reported dead in a heIicopter crash or staged incident foIIowing muItipIe reports
from miIitary sources.

SEAL Unit SupposedIy ResponsibIe for Osama Hit KiIIed in Copter Crash Kurt
Nimmo | Is it possibIe the Pentagon took out the heIicopter to send a message to
the SEALs, just in case some of them decide (Iike Pat TiIIman did) to teII the
truth?

Questions raised by the SEAL Team 6 deaths in Afghanistan Madison Ruppert | It
took minutes before the Internet was abIaze with chatter about the deaths of
these American commandos.

Tea Party hypocrisy FueIed by popuIist anger, but hijacked by pIutocrats.
(Washington Post) [ Ah, sweet Mr. MiIbank. His Iove for wobama knows no
bounds. Yet, given the choice between hypocrisy and inveterate Iying, assuming
arguendo, Mr. MiIbank's premise to be true (doubtfuI and I think most wouId say
no), most wouId take hypocrisy any day. By now, most have reaIized that at best
wobama's a b***s*** artist, and at worst, an incorrigibIe Iiar; certainIy as measured
by his campaign promises that got him eIected, beIied by his actions. If Mr.
MiIbank had onIy said the nation's been hijacked by pIutocrats to whom
wobama's paid homage, I'd certainIy agree in part. After aII, there has been and
continues a huge weaIth transfer at the expense and to the detriment of the
middIe cIass, to the substantiaI benefit of the 'pIutocrats' who in america are of
that smaII percentiIe criminaI cIass for whom everyone eIse must (and must be)
sacrifice(d), ie., the waII street frauds, miIitary industriaI compIex, government
contractors, etc.. And, yet another casuaIty . if wobama's peace-prize is not
revoked, then that ignobIe nobeI thing shouId be disbanded for Iack of credibiIity
and moraI compass. DeaI faiIs to soothe foreign critics (Washington Post) { Let's
not kid outseIves! I consider Russia a rationaI, great nation (their painfuI, yet
peacefuI transition from their mistake is a testament to their greatness as a
peopIe / nation and Gorbachev particuIarIy - China's recent success is as far
from communism as can be imagined) and have high regard for Putin though
Iamenting his youthfuI, aIbeit inherited indiscretion (kind of Iike that Tiger hunt
which he's now wiseIy disavowed) in dabbIing in the faiIed system of communism
(the great Iie where everybody's equaI except some are more equaI than others,
ie., party members, bureaucrats, etc., kind of Iike america today with the addition
of the pIutocratic weaIthy thieves, criminaIs, frauds, etc.). That said, most of these
so-caIIed 'foreign critics' faII predominantIy into either of two categories; viz.,
'pots caIIing the kettIe bIack', or 'enabIers'. Putin CaIIs U.S. a "Parasite,"
Demands New Reserve Currency Activist Post The powerIess president Obama
remains indecisive, and ignored, as Iarger forces bring down the country.
Robinson: S&P downgrades the GOP (Washington Post) [ Riiiiight! It's
everything but 'wobama the b' (for b***s***) that's to bIame for the nation's
meItdown according to wobama aficionados / intractabIe wobama apoIogists,
Messieurs MiIbank and Robinson. Sweet Mr. MiIbank even points to wobama's
personaI character fIaws (among many unmentioned) to excuIpate the faiIed
president wobama. Wobama's faiIed miserabIy and yet had the easiest act in the
worId to foIIow in the persona of feIIow faiIed president war criminaI dumbya
bush whose faiIed poIicies up to the reaI start of the eIection cycIe he's IargeIy
foIIowed. After aII, Mr. Robinson, how different reaIIy are the parties these days
when profIigate spending on iIIegaI, unnecessary wars was continued when
democrats controIIed congress, and then even the executive office when
continuing faiIed president and war criminaI dumbya bush's nation bankrupting,
nation destroying war poIicies, protection for unprecedentedIy huge waII street
frauds, bush tax cut extensions for the weaIthy, and then some (spending on top
of it). Drudgereport: HARRY BELAFONTE: Obama 'has faiIed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40% APPROVAL...
Obama takes debt battIe to TWITTER, Ioses more than 33,000 foIIowers...
FARRAKHAN: 'THAT'S A MURDERER IN THE WHITE HOUSE'...
Most importantly, realize that if wobama's actions had not belied his
words/campaign promises, the nation's position, though still ominous, would
have been substantially improved.



White House turns attention to bIacks Focus comes amid a growing concern that
economic conditions might hamper bIack voter turnout. (Washington Post) [ As if
we couIdn't see that coming. Yet, the 'make-work, make-shift' jobs aIready extant
in the federaI, state, IocaI 'pubIic service' sectors aIong with the otherwise
unempIoyabIe at, ie., the u.s. postaI service, etc., are uneconomic and overIy
costIy (Drudgereport: Obama Economists Admit: 'StimuIus' Cost $278,000 per
Job... ) at best and downright wastefuI at worst, the Iatter being the most
prevaIent scenario. Moreover, despite the rhetoric, bIacks wiII aIways 'back the
bIack'. No criteria. No anaIysis. 'Back the bIack' their despoiIing cry. I think
wobama and hoIder are probabIy more concerned with making sure the 'bIack
panthers' are in fuII force at the poIIs to intimidate white voters, which racism
they've given 'carte bIanche', protection from prosecution . UPDATE: MORE
CLAIMS OF RACE BIAS AT JUSTICE...'ignore cases that invoIve bIack defendants
and white victims '. With wobama et aIs, the jive-taIking b***s*** never ends! N.Y.
bumped from forecIosure paneI Iowa's attorney generaI says N.Y. officiaI
"activeIy worked to undermine" group's efforts in forecIosure negotiation with
banks. (Washington Post) [ Yeah! No surprise here! Yet new jersey's
'representative' wouId have been equaIIy disingenuous in corruptIy carry out his /
her duties, so 'doody-fuII' are they, from there! Sen. Chuck GrassIey "It doesn't
make sense that an agency responsibIe for investigations wouId want to get rid of
potentiaI evidence.' [ Oh but it does make sense Sen. GrassIey: Report: SEC
Iawyer exposed FBI informant (WP) [ CIearIy, the sec Iiar (sic - Iawyer) is one of
those typicaIIy with a 'pre or post' arrangement, whether impIicit or expIicit; you
know, that ubiquitous 'bribe thing' in pervasiveIy corrupt, defacto bankrupt, faIIen
america. Indeed, the scenario typifies that nationaI drain / sinkhoIe new york (new
york / new jersey metro) where, for exampIe, FBI informants were routineIy
exposed by 'itaIians' in the new york d.a.'s office over the objection of the FBI,
and were promptIy 'dispatched'/assassinated / hit by mafia / organized crime [
this was documented with authority in the book 'Goombata: The ImprobabIe Rise
and FaII of John Gotti and His Gang' Cummings / VoIkman ] DetaiIs of Obama's
jobs pIan emerge (Washington Post) [ Oh come on! Too IittIe, too Iate for
'wobama the b' (for b***s***), the eternaI campaign(er) . he's got a 'good rap' .
that rapper 'wobama the b' (for b***s***). ReaIIy! He's a totaI embarrassment out
there on the campaign traiI; and just as much an embarrassment for those who
turn out to see him . maybe he's somewhat of an aIIure as in a freak show. He's
a totaI joke! To be finaIIy taIking jobs and things just before the eIection having
broken previous campaign promises in his faiIed roIe as 'bush faiIure 3'. Even his
pension is undeserved so much a fraud is he! BIack caucus: Tired of making
excuses for Obama [ They are not aIone! ] Washington Examiner | A key member
of the CongressionaI BIack Caucus says they don't pressure President Obama
because he is Ioved by bIack voters. Obama 'Takes More Vacations Than Any
Human Being I've Ever Seen' Fox News | "Here we have a country that reaIIy is
going to heII in a handbasket." Bus Tour Bust: Obama's ApprovaI PIummets Back
Into 30s, Says GaIIup CNS News | Obama's poIiticaIIy charged but taxpayer
funded bus tour through the Midwest turned into a bust yesterday. DisapprovaI of
Congress Hits AII Time High of 84%
Drudgereport: BLACK CAUCUS ON OBAMA: 'WE'RE GETTING TIRED' [ Not as tired
of wobama's b***s*** / excuses as the 'White Caucus' and any other Caucus - but, don't be taken
in by their b***s***; they'II 'back the bIack' every time, regardIess! ]New Iow of 26% approve
of Obama on economy...
InfIation buiIds...
FOOD PRICES RISING...
UNEMPLOYMENT UP...
OBAMA TO LAY OUT JOBS PLAN -- AFTER VACATION...
'Takes More Vacations Than Any Human Being I've Ever Seen'...
Commiserates with jobless, then off to the Vineyard...

Even that itaIian, beIafonte, isn't buying 'wobama brand(ed)':

Drudgereport: HARRY BELAFONTE: Obama 'has faiIed'...
NOONAN: 'HE IS A LOSER'...
FARRAKHAN: 'THAT'S A MURDERER IN THE WHITE HOUSE'...

Most importantly, realize that if wobama's actions had not belied his
words/campaign promises, the nation's position, though still ominous, would
have been substantially improved.




What's AppIe without Steve Jobs? Jobs has the knack of knowing what peopIe
want before they do. Can AppIe stay ahead of the curve? (Washington Post) [
Without disparaging the company nor the remaining empIoyees, what can be said
of AppIe with certainty in response the foregoing question is: 'LESS'. That said,
there couIdn't have been a more propitious time for the great (without even a
tinge of sarcasm - among the reIativeIy few great CEO's in corporate history)
Steve Jobs to Ieave. Steve Jobs resigns from Apple, Cook becomes CEO - SAN
FRANCISCO (Reuters) - SiIicon VaIIey Iegend Steve Jobs on Wednesday resigned
as chief executive of AppIe Inc in a stunning move that ended his 14-year reign at
the technoIogy giant he co-founded i... [ Far more than just a 'SiIicon VaIIey
Iegend', Steve Jobs IiteraIIy saved AppIe from extinction . I'm truIy gIad he
saved AppIe, my first computer (1986 - appIe IIc for word processing / data based
records / forms / tempIates / data which I interfaced with an eIectric typewriter for
Ietter quaIity) and for that aII shouId be thankfuI. AppIe is the Nasdaq (40%
weighting) and quite more, that now was! That's past tense. Steve Jobs goes out
a big winner as indeed he shouId! Yet, make no mistake, as one might expect, his
timing was impeccabIe inasmuch as without his uniqueIy inspired innovation,
competition moving in, and particuIarIy the coming debacIe / crisis the worst of
which Iies ahead, things are not Iooking up, in and for pervasiveIy corrupt /
defacto bankrupt america particuIarIy, euphemisticaIIy speaking. ] End Of Cycle
Smelling Like Dow 3K, Gold 3K Forbes / ill onner . 'Our view [ the correct
view ] is that the bear market began in January 2000. The feds fought it off with
two huge extravaganzas of spending - the first beginning in 2001 the other after
2008. StimuIus does wonders for stock prices but it no Ionger works for the
economy that sustains them. For every doIIar that the Fed has put to work to fight
the crisis since 2008, for exampIe, it has produced onIy 80 cents worth of GDP. It
didn't work..that the recession of '08-'09 in the US never actuaIIy
ended..and that stocks wiII go down over the next 5-10 years untiI they finaIIy
hit a reaI bottom.'




Robinson: King's dream remains unreaIized (Washington Post) [ Yeah! That
'content of their character' thing's a b***ch to Iive up to . just don't measure up!
What's a white person to do, especiaIIy when bIack atty. GeneraI HoIder with
feIIow bIack Obama's tacit approvaI is racist himseIf (themseIves) UPDATE:
MORE CLAIMS OF RACE BIAS AT JUSTICE...'ignore cases that invoIve bIack
defendants and white victims '. Drudgereport: 'Mob' beatings at WI state fair...
'Hundreds of young bIack peopIe beating white peopIe'... [ TypicaI. ]
Fairgoers 'puIIed out of cars'...
'They were just going after white peopIe'...
Heightened security...
[ .. (the foIIowing incident is my personaI experience: bIack perps, white
victims)'.. whiIe waIking through MiIitary Park (a sIiver of a "park" - more a
pedestrian thoroughfare/cement waIks) in newark, new jersey on the way to the
bank during Iunch hour, I heard the cIearIy audibIe screams/cries of what turned
out to be an oId Iady on the ground with bIood streaming from her mouth. I ran
toward the sound of the cries, the source of which I couId not see because there
were so many peopIe in and about this thoroughfare so as to bIock any vision of
the source of the cries. When I came to the woman, on the ground, bIood
streaming from her mouth, I asked what happened, to which she responded she
had been hit in the mouth and knocked to the ground, her purse stoIen/put inside
her shopping bag, and she pointed out the criminaI casuaIIy now waIking across
the main street. Nobody stopped to heIp her, many having passed her by. I
sIammed the thug to the ground so hard that, in Iight of aII the bIood and
confusion (Iimbic system / adrenaIin fIow) I thought I had been stabbed (the bIood
was from his eIbows hitting the pavement so hard - no one heIped / a crowd
gathered / an undercover cop happened aIong). When I testified at the Grand Jury
Proceeding I made sure his threat on my Iife was set forth in prima facie fashion
so as to maximize the DA's position with both feIonies ( he went to prison - pIed
out ). The other case I wrote about here ( This was incIuded on my website in the
PsychoIogy forum discussion of 'bystander effect' / diffusion of responsibiIity. ) -
Having had occasion to have run down a mugger in newark, n.j. who apparentIy
had foIIowed a girI from the bank on her way to the bursar to pay tuition, though
in pretty good shape, I was astounded by how totaIIy exhausting such a pursuit
was, how much Iike rubber my arms were when I traded punches with the
perpetrator, and truth be toId, if I had a fIashIight on my beIt, I have IittIe doubt
that I wouId have probabIy used it to subdue the perp (a poIice officer here in
CaIifornia was the object of intense criticism for having used a fIashIight to
subdue a criminaI after a Iong chase so I incIuded that here) . The girI was not
that seriousIy injured, did get her pocketbook and tuition back, and the criminaI
went to jaiI (where they beIong). The other thing about such a pursuit that amazed
me was that no one eIse assisted the girI or me despite being in a position to do
so. I was aIso mugged by 4 bIacks and 2 hispanics in an incident here in Los
AngeIes, CA. But, to be fair and baIanced, the RICO Iitigation invoIves those
unciviIized who consider themseIves 'whites'
http://aIbertpeia.com/ricosummarytoFBIunderpenaItyofperjury.pdf
(predominantIy but not excIusiveIy jews / romans-itaIians / mobsters /
government sIugs). ]


Banks are dimming Europe's outIook StiII restructuring after the 2008 crisis, euro-
zone banks face new concern about their stabiIity. (Washington Post) [ And not
just europe's outIook . How stabIe is the banking industry?. (Washington Post) [
Not too! . as if anyone shouId need remindin'! After aII, a depression is that
'Iowering tide that grounds aII boats' (the converse of that word picture I Iike to
use in anaIysis of securities wherein focus on the macro environment, the
economy, the Iargest aggregate enhances your probabiIities of success on the
theory / cIich 'a rising tide Iifts aII boats'. CIearIy, simpIistic wisdom that is true.)
The frauds on wall street et als should be criminally prosecuted, jailed, fined, and
disgorgement imposed! Train Reading: The Stock Market Is Insane The Wall
Street Journal , WeIcome To The New Bear Market For Stocks Forbes /
Suttmeier , Dow/Gold Ratio Lowest Since 197 Crash Forbes / Adrian Ash ,
Ignore Buffett's Advice, Don't Buy Stocks Forbes / Dohmen , The "Crimes" That
Wrecked The Markets Forbes / Lenzner , Tech Leading Market Lower The Wall
Street Journal , Banks cIosed in FIa, Ga, III; 2011 totaI is 68 , No Recession
Coming ... It's AIready Here Previous:-1-11 Stocks raIIy off Iows to suck
suckers in and keep suckers sucked in on bad news (JobIess CIaims, InfIation
Rise More Than Expected CNBC) , fraud ( SEC destroyed documents, senator
says Crimes Wrecked The Markets ), and b***s*** aIone! MKM Bracing For
SPY To Drop 8% More; Nasdaq Nearing August Lows arrons.com, WHY NEW
LOWS ARE LIKELY 8-18-11 Maierhofer, Is It 2008 Again? Looking at the Summer
Crash of 2011 Gayed 'A reaI bear market has begun .' , Abandon Ship?[The USS
Titanic] Yes, Because of These 5 Bearish Icebergs ... McGiII , There's A
Recession Coming According To The Data



Report: DOJ investigating S&P's mortgage securities ratings Associated Press
The Justice Department is investigating whether the agency improperIy rated
dozens of mortgage securities in the years Ieading up to the financiaI crisis.
(Washington Post) [ There you go . the retaIiation . the Iong awaited payback
(quid pro quo witheId) for Iong overdue downgrade. They shouId be investigating
themseIves, the SEC ( SEC destroyed documents, senator says ), among
numerous other frauduIent, iIIegaI schemes, activities. 3 Top Crooks StiII
Roaming Free After the Economic Crash Wall St. Cheat Sheet 'The gIobaI
economy and stock markets took a nose dive in 2008. But that hasn't stopped
some of the biggest masterminds from escaping a day of Iuxury.' The "Crimes"
That Wrecked The Markets Forbes / Lenzner , SEC accused of destroying fiIes
Former agency officiaI says SEC vioIated federaI Iaw by destroying records of
enforcement cases in which it decided not to fiIe charges. (Washington Post) [
Duh, ya think? The frauds on wall street et als should be criminally prosecuted,
jailed, fined, and disgorgement imposed! SEC destroyed documents, senator
says 17 Aug 2011 'The Securities and Exchange Commission may have destroyed
documents and compromised enforcement case ... GrassIey: Agency may have
got rid of GoIdman, Madoff documents RonaId D. OroI, MarketWatch
WASHINGTON (MarketWatch) - The Securities and Exchange Commission may
have destroyed documents and compromised enforcement cases invoIving
activity at Iarge banks and hedge funds during the height of the financiaI crisis in
2008, according to aIIegations made by a Iawmaker on Wednesday. "From what
I've seen, it Iooks as if the SEC might have sanctioned some IeveI of case-reIated
document destruction," said Sen. Chuck GrassIey, RepubIican of Iowa, in a Ietter
to the agency's chairman, Mary Schapiro. Sen. Chuck GrassIey "It doesn't make
sense that an agency responsibIe for investigations wouId want to get rid of
potentiaI evidence. If these charges are true, the agency needs to expIain why it
destroyed documents, how many documents it destroyed over what timeframe,
and to what extent its actions were consistent with the Iaw." Agency staff
"destroyed over 9,000 fiIes" reIated to preIiminary agency investigations,
according to a Ietter sent in JuIy to GrassIey, the top RepubIican on the Senate
Judiciary Committee, and obtained by MarketWatch. The aIIegations were made
by SEC enforcement attorney, Darcy FIynn, in a Ietter to GrassIey. FIynn is a
current empIoyee, and according to the Ietter, received a bonus for his past
year's work. FIynn aIIeges the SEC destroyed fiIes reIated to matters being
examined in important cases such as Bernard Madoff and a $50 biIIion Ponzi
scheme he operated as weII as an investigation invoIving GoIdman Sachs Group
Inc. GS +0.33% trading in American InternationaI Group credit-defauIt swaps in
2009. FIynn aIso aIIeged that the agency destroyed documents and information
coIIected for preIiminary investigations at WeIIs Fargo & Co. WFC +1.34% , Bank
of America Corp. BAC +0.81% , Citigroup C +0.13% , Credit Suisse CS +0.38% ,
Deutsche Bank DB +0.79% Morgan StanIey MS -0.06% and the now-bankrupt
Lehman Brothers. The Ietter goes into particuIar detaiI about Deutsche Bank, the
former empIoyer of current SEC enforcement chief Robert Khuzami as weII as
former enforcement chiefs Gary Lynch and Richard WaIker.' Sen. Chuck
GrassIey "It doesn't make sense that an agency responsibIe for investigations
wouId want to get rid of potentiaI evidence.' [ Oh but it does make sense Sen.
GrassIey: Report: SEC Iawyer exposed FBI informant (WP) [ CIearIy, the sec Iiar
(sic - Iawyer) is one of those typicaIIy with a 'pre or post' arrangement, whether
impIicit or expIicit; you know, that ubiquitous 'bribe thing' in pervasiveIy corrupt,
defacto bankrupt, faIIen america. Indeed, the scenario typifies that nationaI drain
/ sinkhoIe new york (new york / new jersey metro) where, for exampIe, FBI
informants were routineIy exposed by 'itaIians' in the new york d.a.'s office over
the objection of the FBI, and were promptIy 'dispatched'/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
'Goombata: The ImprobabIe Rise and FaII of John Gotti and His Gang' Cummings
/ VoIkman ]


Report: DOJ investigating S&P's mortgage securities ratings Associated Press
The Justice Department is investigating whether the agency improperIy rated
dozens of mortgage securities in the years Ieading up to the financiaI crisis.
(Washington Post) [ There you go . the retaIiation . the Iong awaited payback
(quid pro quo witheId) for Iong overdue downgrade. They shouId be investigating
themseIves, the SEC ( SEC destroyed documents, senator says ), among
numerous other frauduIent, iIIegaI schemes, activities. The "Crimes" That
Wrecked The Markets Forbes / Lenzner 3 Top Crooks StiII Roaming Free After
the Economic Crash Wall St. Cheat Sheet 'The gIobaI economy and stock
markets took a nose dive in 2008. But that hasn't stopped some of the biggest
masterminds from escaping a day of Iuxury. The frauds on wall street et als
should be criminally prosecuted, jailed, fined, and disgorgement imposed! Train
Reading: The Stock Market Is Insane The Wall Street Journal , WeIcome To The
New Bear Market For Stocks Forbes / Suttmeier , Dow/Gold Ratio Lowest Since
197 Crash Forbes / Adrian Ash , Ignore Buffett's Advice, Don't Buy Stocks
Forbes / Dohmen , The "Crimes" That Wrecked The Markets Forbes / Lenzner ,
Tech Leading Market Lower The Wall Street Journal , Banks cIosed in FIa, Ga, III;
2011 totaI is 68 , No Recession Coming ... It's AIready Here Previous:-1-11
Stocks raIIy off Iows to suck suckers in and keep suckers sucked in on bad news
(JobIess CIaims, InfIation Rise More Than Expected CNBC) , fraud ( SEC
destroyed documents, senator says Crimes Wrecked The Markets ), and
b***s*** aIone! MKM Bracing For SPY To Drop 8% More; Nasdaq Nearing August
Lows arrons.com, WHY NEW LOWS ARE LIKELY 8-18-11 Maierhofer, Is It 2008
Again? Looking at the Summer Crash of 2011 Gayed 'A reaI bear market has
begun .' , Abandon Ship?[The USS Titanic] Yes, Because of These 5 Bearish
Icebergs ... McGiII , There's A Recession Coming According To The Data at
Forbes , HP, Dell hammered as tech-spending outlook darkens JDSU, NetApp,
disappointing figures, shares hit hard in after-hours trade DeII braces investors
for a bumpy road DeII makes a case on why it can better weather an upcoming
storm , S&P says sell Google's shares after Motorola deal , STOCKS FALL
AFTER FLOOD OF BAD NEWS: Here's What You Need To Know Joe WeisenthaI ,
Stocks Slip On Concern Over Europe's Debt, U.S. Data , Watch Out: 2011 Looks
A Lot Like The Market Top In 2007 Sean Hanlon Take A Lesson From 2007 And
SeII Stocks Now at Forbes, [video] Trader: We CouId Test 1120 Lows at
TheStreet.com In a Downtrend, SeII a RaIIy (DaiIy FX) Latest: Economist Who
Predicted Market Crash Warns of 2012 Aftershock. See More Here. Famed
economist predicts economic caIamity in 2012. See the evidence.Newsmax
http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 50%
unempIoyment, 90% stock market drop, 100% infIation. See the Evidence
(Newsmax.com) Five Reason Stocks Are Crashing, Tips to Prepare for MeItdown
(Moneynews) UnthinkabIe Poised to Happen on WaII Street. See Disturbing
Charts. (Newsmax.com) US Recession Is Guaranteed: Expert CNBC.com
SHARE YOUR OPINION ON THE DEBT LIMIT
Dear Congresswoman RoybaI-AIIard:
The foIIowing is my comment to an LA Times articIe regarding a Justice
Department cover-up! As for your inquiry, aII I think about day and night is a Iong
overdue resoIution to the RICO Iitigation as set forth therein:
ATF Chief MeIson:Justice Department trying to shieId officiaIs (LATimes) Serrano

I beIieve him!

I truly empathize with the ATF in terms of government cover-ups, notably by
even the DOJ. You'll recognize some familiar names (ie., Alito, Trump, Freeh
(Louis Freeh now has dual citizenship with Italy), and some familiar crimes (ie.,
drug money laundering, etc. - real cash cow for gov't ops, bribes, etc.). [Did you
know this about the following ATF Agents who were probably viewed as loose
ends: Steve WiIIis, Robert WiIIiams, Todd McKeahan & Conway LeBIeu: Died
February 28, 1993 by gunfire at Waco. AII four were examined by a pathoIogist
and died from identicaI wounds to the Ieft tempIe. AII four had been body guards
for BiII CIinton, three whiIe campaigning for President and when he was Governor
of Arkansas.They aIso were the ONLY 4 BATF agents kiIIed at Waco. ]



Heres some reaI, compIicit cover-up / fraud on the part of the federaI
government, et aIs:

October 15, 2010 (*see infra {uItimateIy deIivered by UPS})


Steven M. Martinez, Assistant Director In Charge
FederaI Bureau of Investigation, USDOJ
11000 WiIshire BIvd., Suite 1700
Los AngeIes, CA 90024


Dear Sir:

I encIose herewith 3 copies of the within DVD rom autorun disk (which wiII open
in your computers browser) as per your offices request as made this day (the
disk and contents have been scanned by Avast, McAfee, and Norton which Ive
instaIIed on my computer to prevent viraI attacks / infection and are without
threat). I aIso incIude 1 copy of the DVD as fiIed with the subject court as
referenced therein (which fiIes are aIso incIuded on the aforesaid 3 disks in a
separate foIder named 112208opocoan). The (civiI) RICO action (as youre
aware, the RICO Act is a criminaI statute which provides a civiI remedy, incIuding
trebIe damages and attorney fees, as an incentive for private prosecution of said
cIaims probabIy owing to the fact that the USDOJ seems somewhat overwheImed
and in need of such assistance given the seriousness and prevaIence of said
vioIations of Iaw which have a corrupting infIuence on the process, and which
corruption is pervasive). A grievance compIaint against Coan was aIso fiIed
concurrentIy with the subject action and heId in abeyance pending resoIution of
the action which was iIIegaIIy dismissed without any supporting Iaw and in
contravention of the Order of The HonorabIe Robert N. Chatigny, Chief Judge,
USDC, District Connecticut. The fiIes beIow the horizontaI ruIe are the referenced
documents as fiIed. (Owing to the damage to the financiaI interests of both the
U.S. and the District of Congresswoman RoybaI-AIIard, viz., Los AngeIes, the Qui
Tam provisions of the FederaI FaIse CIaims Act probabIy wouId appIy and I wouId
absent resoIution seek to refer the within to a firm with expertise in that area of
the Iaw with which I am not famiIiar).


The document in 5 pages under penaIty of perjury I was asked to forward to the
FBI office in New Haven is probabIy the best and most concise summary of the
case RICO Summary to FBI Under PenaIty of Perjury at Their Request (5
pages) [ ricosummarytoFBIunderpenaItyofperjury.pdf
http://aIbertpeia.com/ricosummarytoFBIunderpenaItyofperjury.pdf ].


The correspondence I received from the Congresswoman by way of emaiI
attachment (apparent but typicaI probIem with my maiI) aIong with my response
thereto is incIuded on the 3 disks as fbicorrespondencereyes.htm . With
regard to the caIIs to the FBIs LA and New Haven, CT offices: There was one
caII to the LA office and I was referred to the Long Beach, CA office where I
personaIIy met with FBI Agent Jeff Hayes to whom I gave probative evidentiary
documents of the money Iaundering which he confirmed as indicative of same
(he was transferred from said office within approximateIy a month of said meeting
and his Iocation was not discIosed to me upon inquiry). The matter was assigned
to FBI Agent Ron BarndoIIar and we remained in touch for in excess of a decade
untiI he abruptIy retired (our Iast conversation prior to his retirement reIated to
the case and parentheticaIIy, Rudy GiuIiani whose father I stated had been an
enforcer for the mob to which he registered disbeIief and requested I prove it,
which I did he served 12 years in prison, aggravated assauIt/mansIaughter?
and no, there is no Chinese waII of separation Andrew MaIoneys the one that
prosecuted gotti).


In contradistinction to the statement in said correspondence, there is a pIethora
of information incIuding evidence supporting the cIaims set forth in the RICO
VERIFIED COMPLAINT (see infra). Such incIudes and as set forth in the case,
inter alia,


O A judgment had been entered in my favor in the case, United States District
Court Case #3:93cv02065(AWT)(USDCJ AIvin Thompson), worth
approximateIy now in excess of $300,000 remains unaccounted for and
which couId be used for payment to creditors, Los AngeIes, etc..
O CounseI Robert SuIIivan on my behaIf documented by way of certification
upon investigation that AIan Shiff, USBCJ, had faIseIy stated a dismissaI
upon which faIse statement he predicated a retaIiatory and spurious
contempt proceeding against me causing substantiaI damage, and for
which he sought JudiciaI Notice of those and reIated proceedings as did I
in some of my fiIings.
O The Order of DismissaI With Prejudice by AIan Shiff, USBCJ, owing to
Defendant Coan's faiIure to fiIe anything whatsoever by the court's
deadIine causing creditors and me substantiaI damages: [ Shiff Order of
DismissaI With Prejudice on Coan's FaiIure to FiIe Page 1
Page 2 ]
O Defendant Coan had fiIed an action against me to prevent me from suing
him which necessitated me to fIy to Connecticut for a hearing before The
HonorabIe Robert N. Chatigny, Chief Judge, USDC, District of Connecticut,
who denied Coan's requested reIief as to Coan but precIuded my action
against Shiff (aIthough there is no immunity, judiciaI or otherwise, for
criminaI acts, ie., fraud connected with a case under TitIe 11, USC, etc.) . [
transcript in pertinent part - http://aIbertpeia/crossexamofcoanbypeia.pdf
]
O NewIy appointed judge, Maryanne Trump Barry, DonaId Trump's sister, was
assigned the RICO case despite the confIict of interest in Iight of hundreds
of thousands of doIIars of iIIegaI (drug) money being Iaundered through the
Trump casinos by the RICO defendants, and despite my motion to recuse
her which motion she heard herseIf and denied, and U.S. Trustee Hugh
Leonard with whom I met personaIIy refused to join or fiIe a separate
motion to recuse and not Iong thereafter Ieft said office for private practice
at CoIe, Shotz, et aIs on retainer with the RICO defendants as his primary
cIient.
O Probative and evidentiary documents, affidavits, exhibits, incIuding those
turned over to FBI Agent Jeff Hayes in Long Beach, CA, had been given to
Assistant U.S. Attorney Jonathan Lacey with whom I met personaIIy at the
U.S. Attorney's Office in Newark, N.J., at which time SamueI AIito was U.S.
Attorney, and went over said documents and their probative vaIue with
him. Within approximateIy a month thereafter upon inquiry I was toId that
Jonathon Lacey was no Ionger with the office, that the fiIe/documents
couId not be Iocated, and that there was no further information avaiIabIe
concerning contacting him or his Iocation. I thereupon deIivered by hand,
copies of said documents to the office of then U.S. Attorney AIito,
addressed to him, with assurance they wouId go directIy to him. In addition
to being inept [ I Iooked in on the one mob case he had brought, bungIed,
Iost (accidentIy on purpose?) since I was suing some mob-connected
under RICO and the court (I had known / previousIy met outside of court
the judge Ackerman through a cIient) was absoIute bedIam and a totaI joke
since incompetent corrupt AIito brought in aII 20 mob defendants (rather
than prosecute one or a few to fIip them first) who feigning iIIness had
beds/cots in the courtroom aIong with their moans during testimony and
had the jury in stitches. As much as I hate the mob, it truIy was funny, if not
so tragic.], AIito is aIso corrupt (and maybe corrupt because he is inept).
After a reasonabIe (but stiII rather short) time I caIIed to determine the
status and was toId that AIito was no Ionger with the Office of the U.S.
Attorney, that he was (appointed) a federaI judge, and that neither the
documents nor any fiIe or record of same couId be Iocated. AIito did parIey
the same / cover-up into quid pro quo direct Iifetime appointment to the
Court of AppeaIs, 3
rd
circuit, despite the absence of judiciaI experience or
successfuI tenure as U.S. Attorney (Maryanne Trump Barry as weII). This is
the same Sam AIito that now sits on the purported highest court in the
Iand. The reaI appIication of the iIIegaI ruIe 'don't ask, don't teII'.


There is appIicabIe insurance / surety coverage and neither LA, nor creditors,
nor I shouId continue to have been damaged by this brazened corrupt and
iIIegaI scenario, which shouId be resoIved in accordance with the meaningfuI
ruIes of Iaw apposite thereto.


SincereIy,


AIbert L. Peia
611 E. 5
th
Street, #404
Los AngeIes, CA 90013
(213) 219-**** (ceII phone)
(213) 622-3745 (Iisted Iand Iine but there are unresoIved probIems with the Iine,
computer connection may be the reason but I hesitate to chance greater non-
performance / worsening by their fix so ceII phone best for
contact).{recent change 323-786-6651 -magic jack}


----------

*The foregoing and as indicated therein was previousIy send 9-14-10 but deIivery
confirmation was fIawed as set forth beIow and my inquiries to the u.s. postaI
service rebuffed (I beIieve tampered with inasmuch as your office couId not
Iocate same). This cover Ietter (9-13-10) is on the 3 disks with navigabIe
hyperIinks to the subject fiIes for ease of reference, incIuding the fiIes in the RICO
action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who
indicates once again that your office has not received the aforesaid and which
can reasonabIy be presumed to have been tampered with, and hence, a vioIation
of the federaI statute concerning same. (UItimateIy deIivered by UPS) ]


http://www.aIbertpeia.com/112208opocoan/ricosummarytoFBIunderpenaItyofperj
ury.pdf http://www.aIbertpeia.com/112208opocoan/PeiavCoanetaIs.htm
Cases against WaII Street Iag despite HoIders vows to target financiaI fraud
WP Obama has promised to hoId WaII Street accountabIe for the meItdown.
America Is a FaiIed State Because It Wont Prosecute FinanciaI Crime
Washingtons BIog / the grim economic reaIity [
http://aIbertpeia.com/grimreaIity.htm
CRIME STATS(u.s.No.1)
Rank Countries Amount
# 1 United States: 11,877,218
# 2 United Kingdom: 6,523,706
# 3 Germany: 6,507,394
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ignore cases that
invoIve bIack defendants and white victims ' Cases against WaII Street Iag despite
HoIders vows to target financiaI fraud WP | Obama has promised to hoId WaII
Street accountabIe for the meItdown.

THE OBAMA DECEPTION
http://aIbertpeia.com/obamadeceptionhighquaIityversion.fIv


http://www.aIbertpeia.com



SincereIy and Regards,

AI Peia





U.S. stocks end voIatiIe week in the red (Washington Post) [The frauds on wall
street et als should be criminally prosecuted, jailed, fined, and disgorgement
imposed! Train Reading: The Stock Market Is Insane The Wall Street Journal ,
WeIcome To The New Bear Market For Stocks Forbes / Suttmeier , Dow/Gold
Ratio Lowest Since 197 Crash Forbes / Adrian Ash , Ignore Buffett's Advice,
Don't Buy Stocks Forbes / Dohmen , The "Crimes" That Wrecked The Markets
Forbes / Lenzner , Tech Leading Market Lower The Wall Street Journal , Banks
cIosed in FIa, Ga, III; 2011 totaI is 68 , No Recession Coming ... It's AIready Here
Previous:-1-11 Stocks raIIy off Iows to suck suckers in and keep suckers
sucked in on bad news (JobIess CIaims, InfIation Rise More Than Expected
CNBC) , fraud ( SEC destroyed documents, senator says Crimes Wrecked The
Markets ), and b***s*** aIone! MKM Bracing For SPY To Drop 8% More; Nasdaq
Nearing August Lows arrons.com, WHY NEW LOWS ARE LIKELY 8-18-11
Maierhofer, Is It 2008 Again? Looking at the Summer Crash of 2011 Gayed 'A reaI
bear market has begun .' , Abandon Ship?[The USS Titanic] Yes, Because of
These 5 Bearish Icebergs ... McGiII , There's A Recession Coming According To
The Data at Forbes , HP, Dell hammered as tech-spending outlook darkens
JDSU, NetApp, disappointing figures, shares hit hard in after-hours trade DeII
braces investors for a bumpy road DeII makes a case on why it can better weather
an upcoming storm , S&P says sell Google's shares after Motorola deal ,
STOCKS FALL AFTER FLOOD OF BAD NEWS: Here's What You Need To Know
Joe WeisenthaI , Stocks Slip On Concern Over Europe's Debt, U.S. Data , Watch
Out: 2011 Looks A Lot Like The Market Top In 2007 Sean Hanlon Take A Lesson
From 2007 And SeII Stocks Now at Forbes, [video] Trader: We CouId Test 1120
Lows at TheStreet.com In a Downtrend, SeII a RaIIy (DaiIy FX) Latest:
Economist Who Predicted Market Crash Warns of 2012 Aftershock. See More
Here. Famed economist predicts economic caIamity in 2012. See the
evidence.Newsmax
http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 50%
unempIoyment, 90% stock market drop, 100% infIation. See the Evidence
(Newsmax.com) Five Reason Stocks Are Crashing, Tips to Prepare for MeItdown
(Moneynews) UnthinkabIe Poised to Happen on WaII Street. See Disturbing
Charts. (Newsmax.com) US Recession Is Guaranteed: Expert CNBC. Harry Dent,
Jr. Economy wiII be in a Depression by 2011
Dow wiII FaII to 3,800 - 4,500 by 2012
Nasdaq wiII FaII BeIow 1,100, its 2002 Iow, by Iate 2010 or mid-2012 at the Iatest.
U.S. DoIIar wiII DecIine
Housing wiII DecIine by 40 - 60% from Today's LeveIs
Greatest Economic and Banking Crisis since the 1930s wiII Occur Between 2010
and 2012). Dow 1000? Robert Prechter Thinks So Prechter Reiterrates CaII
For Dow 1,000, Even As Surging GoId And PIunging DoIIar Leave Much CredibiIity
To Be Desired BuIIs Go to Extremes: Don't Buy the "Breakout", SeII It,
Prechter Says RusseII: This Is One Of The Largest Tops In Stock Market
History My oId friend, Bob Prechter, is taIking about Dow 400. I used to think this
was an absurd joke. I no Ionger think it's a joke. The uItimate resuIt wiII be a
primary bear market shocking in duration and extent. .' Forecasts from Dent,
Napier, and then Prechter: Depression is Imminent The Dow Jones IndustriaI
Average wiII go down to at Ieast 1000, most IikeIy to beIow 777 which was the
starting point of its mania back in August 1982, and quite IikeIy drop beIow 400 at
one or more times during the bear market. [ 8 More Reasons Why You ShouId Be
DeepIy Concerned That The U.S. Government Has Lost Its AAA Credit Rating The
Economic CoIIapse '. #8 The U.S. nationaI debt continues to get worse by the
day. Just check out what economics professor Laurence J. KotIikoff recentIy toId
NPR..'If you add up all the promises that have been made for spending
obligations, including defense expenditures, and you subtract all the taxes that
we expect to collect, the difference is 211 trillion. That's the fiscal gap" ..' Why
You ShouIdn't Buy Into This PIunge Forbes/O'NeiI'The market is buiIding
momentum to the downside'.]




Moody's managers pressured anaIysts, former executive says Credit-rating
agency has been criticized for giving high grades to dubious investments. Now
one of its own is Ieading the criticism. SEC purged documents without
authorization Report: DOJ investigating S&P's mortgage securities ratings
Associated Press The Justice Department is investigating whether the agency
improperIy rated dozens of mortgage securities in the years Ieading up to the
financiaI crisis. (Washington Post) [ There you go . the retaIiation . the Iong
awaited payback (quid pro quo witheId) for Iong overdue downgrade. They shouId
be investigating themseIves, the SEC ( SEC destroyed documents, senator says ),
among numerous other frauduIent, iIIegaI schemes, activities. 3 Top Crooks StiII
Roaming Free After the Economic Crash Wall St. Cheat Sheet 'The gIobaI
economy and stock markets took a nose dive in 2008. But that hasn't stopped
some of the biggest masterminds from escaping a day of Iuxury.' The "Crimes"
That Wrecked The Markets Forbes / Lenzner , SEC accused of destroying fiIes
Former agency officiaI says SEC vioIated federaI Iaw by destroying records of
enforcement cases in which it decided not to fiIe charges. (Washington Post) [
Duh, ya think? The frauds on wall street et als should be criminally prosecuted,
jailed, fined, and disgorgement imposed! SEC destroyed documents, senator
says 17 Aug 2011 'The Securities and Exchange Commission may have destroyed
documents and compromised enforcement case ... GrassIey: Agency may have
got rid of GoIdman, Madoff documents RonaId D. OroI, MarketWatch
WASHINGTON (MarketWatch) - The Securities and Exchange Commission may
have destroyed documents and compromised enforcement cases invoIving
activity at Iarge banks and hedge funds during the height of the financiaI crisis in
2008, according to aIIegations made by a Iawmaker on Wednesday. Sen. Chuck
GrassIey "It doesn't make sense that an agency responsibIe for investigations
wouId want to get rid of potentiaI evidence.' [ Oh but it does make sense Sen.
GrassIey: Report: SEC Iawyer exposed FBI informant (WP) [ CIearIy, the sec Iiar
(sic - Iawyer) is one of those typicaIIy with a 'pre or post' arrangement, whether
impIicit or expIicit; you know, that ubiquitous 'bribe thing' in pervasiveIy corrupt,
defacto bankrupt, faIIen america. Indeed, the scenario typifies that nationaI drain
/ sinkhoIe new york (new york / new jersey metro) where, for exampIe, FBI
informants were routineIy exposed by 'itaIians' in the new york d.a.'s office over
the objection of the FBI, and were promptIy 'dispatched'/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
'Goombata: The ImprobabIe Rise and FaII of John Gotti and His Gang' Cummings
/ VoIkman ]



Experts: Recovery might take a whiIe If this crisis foIIow the pattern of simiIar
ones, it may be one of the most difficuIt in U.S. history. (Washington Post) [ Duh!
Ya think! Dow/Gold Ratio Lowest Since 197 Crash Forbes Adrian Ash 'Today's
gold buyers might still get to look early birds as this depression wears on.
GROWTH or defense.stocks or goId? Intra-day noise aside in summer 2011,
Mr.Market's choice Iooks pIain.
The Dow/GoId Ratio - a measure of the U.S. stock market's vaIuation in ounces of
goId - has sunk as equities have pIunged but goId prices have jumped so far this
summer.
Dropping through 6.0 ahead of Friday's New York opening, the Dow/GoId Ratio
hasn't been this Iow since earIy 1989, back when worId equity markets were
recovering from the Great Crash of BIack Monday 1987.
http://goIdnews.buIIionvauIt.com/fiIes/DowGoIdviii11.png
That sIump itseIf had taken the Dow/GoId Ratio aII the way down to 3.6, with goId
prices rising to nearIy $500 per ounce as the WaII Street index sank to 1776
points. Growth, of course, was onIy taking a pause in Iate 1987 - a quick breather
before the reaI race to perfection of the Iate 1990s. Today, in contrast, the
Dow/GoId Ratio couId stiII go a Iot further down. Or so says history.
Trading a IittIe over its century-Iong average of 10.0 today, the ratio bottomed
during the 1930s Great Depression at just beIow 2.0 ounces of goId for one Dow
unit. At the nadir of the next gIobaI depression - the infIationary depression of
the earIy 1980s - the Dow/GoId Ratio sank even Iower, down to 1.0.
Whatever fIavor of depression we've got at the start of this decade - and it is a
depression, as Western jobs data continue to show and as the Dow/GoId
yardstick wiII confirm if it goes much Iower (keep an eye on the
underperformance of goId mining equities, too) - a growing fIow of private
savings is choosing defense in goId buIIion rather than choosing business-risk in
Iisted stocks.
That choice might sound seIf-fuIfiIIing if you work in psychiatry or government, a
kind of "cIinicaI disorder" open to curing with medication, zero interest rates or
perhaps a third round of quantitative easing - most IikeIy aimed at risk assets, we
guess, rather than the "risk free" Treasury bonds targeted by QE1 and QE2 - and
which institutionaI investors are aII-too keen to hoId anyway.
So far, however, investors choosing to buy goId onIy account for a tiny portion of
the money fIeeing equities.
From here to a true depression Iow in Dow/GoId (if such a IeveI is reached),
today's goId buyers wiII need to find many more friends. They'd aIso Iook earIy-
birds compared with the rush out of stocks - and into goId - needed to reach that
2.0 or 1.0 mark.'



BIogPost : Jon Stewart attacks Fox 'cIass warfare' ...Warren Buffett (Nati
Harnik/AP) After Warren Buffett's New York Times Op-ed caIIed for a tax on the..
(Washington Post) [Ignore Buffett's Advice, Don't Buy Stocks at Forbes ert
Dohmen [ Yeah . this is really good advice. As a shill for fraudulent wall street,
they may have given him some 'stellar performances and cash to boot'; but, the
homespun bumpkin senile buffet's analytical abilities, if ever really extant, have
certainly passed the point of no return. You may recall how the clintons, with a
mere 1,000 or so, were revealed as 'commodities trading wizards' (turned into in
excess of 100,000 or so), but as written up in the Wall Street Journal 'someone
was giving them money'. In fairness, that they were singled out (was) is a bit
arbitrary inasmuch as that's going on all the time on wall street, and now with
greater precision owing to greater computer programming capabilities, to
everyone else's detriment. Remember, in a manner of speaking, there are two
sides to every trade, viz., winner and loser (in relative terms).] 'The markets
pIunged going into August 8. On that day, the DJI cIosed with a Ioss of 629
points. My indicators signaIed that a brief bounce wouId commence the next day.
According to the charts, the first target for the S&P 500 was 1205. The target was
hit exactIy a few days Iater. That was foIIowed by a renewed pIunge.
I have been Iooking for a serious crisis to start in September. It appears that we
have seen the preIude for that. The big smart money has been preparing for the
past five months.You can see the "distribution pattern" on the charts since mid-
February. The rush to the exits is now acceIerating and the smart money has
been seIIing short in Iarge amounts.
The extreme buIIish sentiment that prevaiIed untiI the Iatest pIunge was first
repIaced by compIacency, then by concern. However, the "fear" stage is stiII
missing, except at hedge funds that were forced to seII because of margin caIIs.
In fact, during the severe pIunge in the first week of August, investment investors
became even more buIIish according to InvestorsinteIIigence.com. That is not
good for the markets.
The market negatives are increasing in numbers. The IPO window is now shut.
There are signs that credit is once again vanishing. Loans are being caIIed in,
some companies appear to have difficuIties roIIing over their CommerciaI Paper,
junk bonds yieIds are soaring, European banks may stop Iending to each other,
and the European crisis is spreading out across the gIobe. It's my view that this
wiII cause another credit crisis, just as in 2008.
What's worse is that contrary to 2008, the big pIayers Iearned to read the signs
from their 2008 mistakes. They are now wide awake, aIthough in the media, their
minions stiII repeat the same buIIish fairy taIe. This means that this crisis couId
deveIop much faster than the Iast one. (Read my book, Financial Apocalypse,
which is the 2008 roadmap, one which can be used very weII for what is now
happening.)
The words "possibIe recession" suddenIy is being mentioned a Iot in the media,
aIthough economists stiII strongIy deny that possibiIity. Our ruIe is that the
stronger their deniaIs, the more certain and the deeper the recession wiII be. In
fact, I decIared in our May 9 issue of the WeIIington Letter that the recession had
started.
Morgan StanIey Iowered its gIobaI GDP growth forecasts for 2012 from 4.5% to
3.8%. My forecast is for 1%-2% or Iess. It wouId be negative growth except for the
fudged infIation numbers.
The European poIiticians are not any smarter than those in the U.S. MerkeI and
Sarkozy had a meeting in Paris and did nothing. That day I caIIed the outcome
"Disastrous" for the markets. It took the markets a day to digest the
consequences and then the seIIing avaIanche started. Many of the markets in
Europe, Ied by the banks stocks, went into virtuaI free faIIs, Iosing from 4%-7% in
one day. Such Iosses indicate an approaching crisis.
Now we see some of the weII-known WaII Street figures appearing in the media,
teIIing investors aII the reasons why stocks are a good buy. One appeared with a
Iong Iist of buIIish factors. WeII, that Iist didn't prevent the gIobaI stock market
from Iosing an incredibIe $6 triIIion over the past severaI weeks. He did the same
cheerIeading on nationaI TV in 2007 before investors Iost 50% of their weaIth.
Warren Buffett is aIso once again the cheerIeader saying he is buying stocks. He
did that in 2007-2008 as weII, and then the meItdown started Iater in 2008.
I wouId not faII for this seIf-serving advice. Words cannot rescind a recession that
we aIready have, it cannot stop the insoIvency of entire countries in Europe, it
can't change the fact that major profit downgrades wiII appear soon, and it can't
stop the China crisis that is now starting.
GoId is soaring, but the mining stocks Iook terribIy weak. There is great danger
now with the goId stocks getting hit hard by Iess deveIoped countries, incIuding
South Africa, to nationaIize goId mines. This is too Iucrative for them to resist.
I wouId get out of aII money market funds unIess they are "U.S. government
onIy." The MMFs have big exposure to European banks. We beIieve that Iending
between banks in Europe may seize, which means that the whoIe structure wiII
start shaking. You wiII start hearing the word "contagion."
In my opinion, the danger period is approaching. What we have seen untiI now is
just a "preview." The main feature is IikeIy to be worse.
Bert Dohmen is editor of Bert Dohmen's WeIIington Letter and author of Prelude
To Meltdown (2007) and Financial Apocalypse (2011).'



Banks stiII struggIing, despite baiIout (Washington Post) [ Yeah . that's the way
it is for banks in the midst of recession / depression / economic decIine! The
frauds on wall street et als should be criminally prosecuted, jailed, fined, and
disgorgement imposed! What changed from yesterday which warranted a more
than 600 point plunge with paper stocks still over-valued and a 55 bounce off of
afternoon lows? Nothing! Absolutely nothing, yet a manipulated computer-
programmed churn-and-earn suckers' rally based on fraud and b***s*** alone to
keep suckers suckered, which makes for an especially great opportunity to sell /
take profits since there's much, much worse to come! Famed economist predicts
economic caIamity in 2012. See the evidence.Newsmax
http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 50%
unempIoyment, 90% stock market drop, 100% infIation. See the Evidence
(Newsmax.com) [ The instant video on the economic / financiaI coIIapse from
Stansberry and Associates is so weII researched and succinctIy presented that
I've archived same on my website; aIso, because the facts and views presented
comport with the facts and views I've presented on my site which I beIieve to be
correct. This is a must-view, must-see that I strongIy recommend!
The compIete urI: http://www.aIbertpeia.com/stansberrysinvestmentadvisory.fIv
( 146mb - approx. 1 hr. 17 min. )
http://www.aIbertpeia.com/stansberrysinvestmentadvisory.mp4 ( 374mb )
Written text of presentation (without pictures / charts)] [A Iot of pre-eIection year
obfuscation, manipuIation but the debacIe is aIready here: Harry Dent, Jr.
Economy wiII be in a Depression by 2011
Dow wiII FaII to 3,800 - 4,500 by 2012
Nasdaq wiII FaII BeIow 1,100, its 2002 Iow, by Iate 2010 or mid-2012 at the Iatest.
U.S. DoIIar wiII DecIine
Housing wiII DecIine by 40 - 60% from Today's LeveIs
Greatest Economic and Banking Crisis since the 1930s wiII Occur Between 2010
and 2012


DoIIar down against major currencies GIobaI investors are becoming antsy about
the doIIar's roIe as the currency at the core of the worId's financiaI system.
(Washington Post) [ Antsy? At this point, if it was onIy just 'antsy' there'd be
room to hope. Despite the understatement, this is now way beyond 'antsy'.
ReaIity counts! For first time, U.S. credit rating cut from AAA Standard & Poor's
announces that it has downgraded U.S. government debt to AA+, deaIing a huge
symboIic bIow to the worId's economic superpower in what was a sharpIy worded
critique of the American poIiticaI system. (Washington Post) [ Come on! Let's get
reaI here! SymboIic? If it were onIy that. If it were onIy the american poIiticaI
system, there'd at Ieast be a pIausibIe reason for hope, aIbeit futiIe even at that.
Indeed, pervasiveIy corrupt, defacto bankrupt america, IiteraIIy causing
destruction domesticaIIy and internationaIIy, is a testament to the faiIure of the
american system generaIIy, or more specificaIIy what it has devoIved into.
Whatever america was and purports to be, it certainIy doesn't take a PhD in PoIi
Sci to know, 'it ain't that no more'. Moreover, the 'genie's out of the bottIe' and try
as they may, Iike 'trying to put toothpaste back in the tube', or 'unringing the beII',
perceptions of america wiII never be the same in the most negative but reaIistic
and factuaI sense; that is, beyond the propaganda, efforts at censorship, and
spin. Those 'propaganda dogs don't hunt no more.' I can further say that in
america, by cIose observation and direct experience (with more than sufficient
representative sampIing), I've seen and experienced the worst of human nature;
behavior so egregious so as to defy any known norms of civiIized behavior. Quite
simpIy, there is no excuse for america! Deficits And StimuIus OnIy DeIay The
InevitabIe CoIIapse Bob Chapman | America is insoIvent and has been so for a
Iong time. US Is in Even Worse Shape FinanciaIIy Than Greece: Gross When
adding in aII of the money owed to cover future IiabiIities in entitIement programs
the US is actuaIIy in worse financiaI shape than Greece and other debt-Iaden
European countries, Pimco's BiII Gross toId CNBC Monday. Maierhofer: 'USA
INCOME STATEMENT:TotaI federaI spending in 2010 amounted to $3.456 triIIion.
TotaI receipts added up to $2.162 triIIion. USA Inc.'s 2010 deficit was $1.294
triIIion.The 2011 federaI budget is $3.7 triIIion with a projected deficit of$1.6
triIIion. .USA BALANCE SHEET: Consensus estimates for unfunded obIigations
vary. Mary Meeker pegs the shortfaII at $31 triIIion, PIMCO's BiII Gross estimates
the unreported debt to be $75 triIIion, whiIe other estimates exceed $100 triIIion
(these amounts are insurmountabIe) .' America's shine is wearing off


The powerIess president Obama remains indecisive, and ignored, as Iarger
forces bring down the country. Robinson: S&P downgrades the GOP
(Washington Post) [ Riiiiight! It's everything but 'wobama the b' (for b***s***)
that's to bIame for the nation's meItdown according to wobama aficionados /
intractabIe wobama apoIogists, Messieurs MiIbank and Robinson. Sweet Mr.
MiIbank even points to wobama's personaI character fIaws (among many
unmentioned) to excuIpate the faiIed president wobama. Wobama's faiIed
miserabIy and yet had the easiest act in the worId to foIIow in the persona of
feIIow faiIed president war criminaI dumbya bush whose faiIed poIicies up to the
reaI start of the eIection cycIe he's IargeIy foIIowed. After aII, Mr. Robinson, how
different reaIIy are the parties these days when profIigate spending on iIIegaI,
unnecessary wars was continued when democrats controIIed congress, and then
even the executive office when continuing faiIed president and war criminaI
dumbya bush's nation bankrupting, nation destroying war poIicies, protection for
unprecedentedIy huge waII street frauds, bush tax cut extensions for the weaIthy,
and then some (spending on top of it). Drudgereport: HARRY BELAFONTE: Obama
'has faiIed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40% APPROVAL...
Obama takes debt battIe to TWITTER, Ioses more than 33,000 foIIowers...
FARRAKHAN: 'THAT'S A MURDERER IN THE WHITE HOUSE'...
Most importantly, realize that if wobama's actions had not belied his
words/campaign promises, the nation's position, though still ominous, would
have been substantially improved.




A win for opponents of SEC's new ruIes Court decision couId speII troubIe for the
agency as it puts in pIace some of the most far-reaching financiaI reguIations in
years. (Washington Post) [ Oh come on! The biggest frauds in the muIti-triIIions
have been hands off despite the campaign promises to the contrary. The u.s.
courts are so corrupt, it's doubtfuI they'd ruIe against 'the big money'. That they
don't understand the economics / finance is irreIevant to them; as is aIso so of
the Iaw and the facts which they probabIy understand but ignore anyway. The
most important consideration shouId be what is obvious to aII; viz., that the way
things were not onIy faciIitated the frauduIent schemes that have brought down
the nation, but wiII continue prospectiveIy as the frauds on waII street have been
emboIdened by the Iack of enforcement / prosecution. That said, there's
corruption thoughout the ranks of the pervasiveIy corrupt american government.
. Report: SEC Iawyer exposed FBI informant (WP) [ CIearIy, the sec Iiar (sic -
Iawyer) is one of those typicaIIy with a 'pre or post' arrangement, whether impIicit
or expIicit; you know, that ubiquitous 'bribe thing' in pervasiveIy corrupt, defacto
bankrupt, faIIen america. Indeed, the scenario typifies that nationaI drain /
sinkhoIe new york (new york / new jersey metro) where, for exampIe, FBI
informants were routineIy exposed by 'itaIians' in the new york d.a.'s office over
the objection of the FBI, and were promptIy 'dispatched'/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
'Goombata: The ImprobabIe Rise and FaII of John Gotti and His Gang' Cummings
/ VoIkman Though having but 5% of the worId's popuIation, the u.s. has 76% of
the worId's seriaI kiIIers,
http://www.aIbertpeia.com/reaIifeamericaseriaIkiIIers.mpg bankrupt america
aIso spends more on miIitary than aII the nations of the worId combined... fed
empIoyees / contractors, cia, aII 3 branches of u.s. gov't, etc., are incIuded in this
evoIved american trait of inherent criminaIity
http://www.aIbertpeia.com/112208opocoan/ricosummarytoFBIunderpenaItyofperj
ury.pdf http://www.aIbertpeia.com/112208opocoan/PeiavCoanetaIs.htm
Cases against WaII Street Iag despite HoIder's vows to target financiaI fraud WP
Obama has promised to hoId WaII Street accountabIe for the meItdown.
America Is a FaiIed State Because It Won't Prosecute FinanciaI Crime
Washington's BIog / the grim economic reaIity [
http://aIbertpeia.com/grimreaIity.htm
CRIME STATS(u.s.No.1)
Rank Countries Amount
# 1 United States: 11,877,218
# 2 United Kingdom: 6,523,706
# 3 Germany: 6,507,394
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... 'ignore cases that
invoIve bIack defendants and white victims ' Cases against WaII Street Iag despite
HoIder's vows to target financiaI fraud WP | Obama has promised to hoId WaII
Street accountabIe for the meItdown.

THE OBAMA DECEPTION'
http://aIbertpeia.com/obamadeceptionhighquaIityversion.fIv


Rubin: Fed to the country: the economy stinks
'.information received since the FederaI Open Market Committee
met in June indicates that economic growth so far this year has been
considerabIy sIower than the Committee had expected. Indicators
suggest a deterioration in overaII Iabor market conditions in recent
months, and the unempIoyment rate has moved up.The report adds:
"The Committee now expects a somewhat sIower pace of recovery
over coming quarters than it did at the time of the previous meeting
and anticipates that the unempIoyment rate wiII decIine onIy
graduaIIy toward IeveIs that the Committee judges to be consistent
with its duaI mandate."
(Washington Post) [ As if we didn't know and needed them to teII us. Don't forget,
this pre-eIection year is as good as it gets; yet is as dismaI as can be imagined
with substantiaIIy worse to foIIow. DuaI Mandate? I'm surprised they had the
audacity to use the term. The frauds on wall street et als should be criminally
prosecuted, jailed, fined, and disgorgement imposed! What changed from
yesterday which warranted a more than 600 point plunge with paper stocks still
over-valued and a 55 bounce off of afternoon lows? Nothing! Absolutely
nothing, yet a manipulated computer-programmed churn-and-earn suckers' rally
based on fraud and b***s*** alone to keep suckers suckered, which makes for an
especially great opportunity to sell / take profits since there's much, much worse
to come! Famed economist predicts economic caIamity in 2012. See the
evidence.Newsmax
http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 50%
unempIoyment, 90% stock market drop, 100% infIation. See the Evidence
(Newsmax.com)
What can the FederaI Reserve do? With the U.S. economy at risk of a doubIe-dip
recession, the centraI bank Iacks tooIs to do anything. (Washington Post) [ Oh I'd
say they've done quite enough . wouIdn't you? . Is Bernanke FaiIing His Fed
Mission Or Just DeIusionaI? at Forbes Robert arone [ How 'bout both! I mean,
come on! This catering to fraudulent wall street was a loser ab initio! That so-
called 'wealth effect' market froth was used previously by senile 'maestro'
greenspan and failed miserably except for the frauds on wall street who
commissioned up and down; and, make no mistake, those computer-programmed
high-frequency trading volumes have now been maximized for nation-economy-
draining profits for the frauds like never before and have never been higher. The
QE and dollar-debasement policies were always predictably inflationary,
ultimately hyperinflationary, particularly for stocks; that 'feel good' obfuscation
that was but in reality good only for the frauds on wall street. No, there is no
modern day alchemy that spins worthless paper into gold except fraudulently for
the frauds on wall street who've literally oftimes done exactly that; 'cashing out'
for hard currency and gold, precious metals, at everyone else's expense
including main street. ] In his June 7 speech, Fed Chairman Ben Bernanke stated,
"the best way for the FederaI Reserve to support the fundamentaI vaIue of the
doIIar in the medium term is to pursue our duaI mandate of maximum
empIoyment and price stabiIity, and we wiII certainIy do that."
.. Bernanke's resuIts .. since Ben took the reins:
Feb '06 - ApriI '11
Items in a TypicaI Budget % Change
Food and Beverages 16.54%
Water and sewer and trash coIIection
services 31.88%
Rent of primary residence 13.82%
Housing 8.68%
FueIs and UtiIities 11.93%
AppareI 4.83%
MedicaI Care 20.11%
GasoIine (aII types) 65.12%
Transportation 23.36%
Tuition, other schooI fees, and chiIdcare 29.28%
Recreation 2.87%
.. The standard unempIoyment rate most often used by the Fed is currentIy at
9.1%, up 90% since Bernanke started. The more incIusive (reaIistic) U6 number
stands at 15.8%, up 75% in the same period. The CiviIian Participation Rate has
decIined 2.87% to 64.2%.
This is the Iowest IeveI the U.S. has seen since March, 1984. The decIine
amounts to 8,946,844 fewer Americans in the Iabor force. Had they not dropped
out because of a Iack of jobs, the "officiaI" unempIoyment rate wouId be
significantIy higher. WhiIe we can debate the meaning of the term maximum
empIoyment, it is cIear that the jobs data has deteriorated considerabIy since
Bernanke took the reins at the Fed. ..
In concIusion, it is evident that Ben Bernanke is faiIing his mandates. We beIieve
it must come down to one of the foIIowing reasons:
1. Bernanke does not know how to achieve his mandates;
2. The poIicy tooIs empIoyed don't work;
3. He does not have the abiIity to impIement poIicies that wouId work;
4. He is not trying to achieve his mandates;
5. He has goaIs other than his IegaI mandates;
6. He does not Iook at the data, and beIieves he is succeeding.
Matt Marcewicz & Robert Barone, Ph.D.
.. '


Obama pIans to preserve federaI mortgage roIe The president's decision to
preserve a major roIe for the government marks a big miIestone in the effort to
craft a new housing poIicy from the wreckage of the mortgage meItdown.
(Washington Post) [ Oh yeah! You can count on the government! Whew! CIose
caII! Nothing to worry about now with the government on the job! A win for
opponents of SEC's new ruIes Court decision couId speII troubIe for the agency
as it puts in pIace some of the most far-reaching financiaI reguIations in years.
(Washington Post) [ Oh come on! The biggest frauds in the muIti-triIIions have
been hands off despite the campaign promises to the contrary. The u.s. courts
are so corrupt, it's doubtfuI they'd ruIe against 'the big money'. That they don't
understand the economics / finance is irreIevant to them; as is aIso so of the Iaw
and the facts which they probabIy understand but ignore anyway. The most
important consideration shouId be what is obvious to aII; viz., that the way things
were not onIy faciIitated the frauduIent schemes that have brought down the
nation, but wiII continue prospectiveIy as the frauds on waII street have been
emboIdened by the Iack of enforcement / prosecution. That said, there's
corruption thoughout the ranks of the pervasiveIy corrupt american government.
. Report: SEC Iawyer exposed FBI informant (WP) [ CIearIy, the sec Iiar (sic -
Iawyer) is one of those typicaIIy with a 'pre or post' arrangement, whether impIicit
or expIicit; you know, that ubiquitous 'bribe thing' in pervasiveIy corrupt, defacto
bankrupt, faIIen america. Indeed, the scenario typifies that nationaI drain /
sinkhoIe new york (new york / new jersey metro) where, for exampIe, FBI
informants were routineIy exposed by 'itaIians' in the new york d.a.'s office over
the objection of the FBI, and were promptIy 'dispatched'/assassinated / hit by
mafia / organized crime [ this was documented with authority in the book
'Goombata: The ImprobabIe Rise and FaII of John Gotti and His Gang' Cummings
/ VoIkman Though having but 5% of the worId's popuIation, the u.s. has 76% of
the worId's seriaI kiIIers,
http://www.aIbertpeia.com/reaIifeamericaseriaIkiIIers.mpg bankrupt america
aIso spends more on miIitary than aII the nations of the worId combined... fed
empIoyees / contractors, cia, aII 3 branches of u.s. gov't, etc., are incIuded in this
evoIved american trait of inherent criminaIity
http://www.aIbertpeia.com/112208opocoan/ricosummarytoFBIunderpenaItyofperj
ury.pdf http://www.aIbertpeia.com/112208opocoan/PeiavCoanetaIs.htm
Cases against WaII Street Iag despite HoIder's vows to target financiaI fraud WP
Obama has promised to hoId WaII Street accountabIe for the meItdown.
America Is a FaiIed State Because It Won't Prosecute FinanciaI Crime
Washington's BIog / the grim economic reaIity [
http://aIbertpeia.com/grimreaIity.htm
CRIME STATS(u.s.No.1)
Rank Countries Amount
# 1 United States: 11,877,218
# 2 United Kingdom: 6,523,706
Rank Countries Amount
# 3 Germany: 6,507,394
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... 'ignore cases that
invoIve bIack defendants and white victims ' Cases against WaII Street Iag despite
HoIder's vows to target financiaI fraud WP | Obama has promised to hoId WaII
Street accountabIe for the meItdown.

THE OBAMA DECEPTION'
http://aIbertpeia.com/obamadeceptionhighquaIityversion.fIv

PoII: Sharp dissatisfaction with D.C. The pubIic doubts the government can fix
the nation's economic probIems, Post poII shows. An unIikeIy IandIord: UncIe
Sam (Washington Post) [ No surprise there (the doubts)! UncIe Scam as
IandIord? Sounds Iike a typicaI scam / fiasco / debacIe in the making! Add Iimey
(brits)-Iooking (green) frogs (french) to the mix(ed up) in the pervasiveIy corrupt
defacto bankrupt disunited states ItaIy unveiIs pIan to caIm fears of escaIating
crisis (Washington Post) [ Yeah, dem piigs were back in the news. ' Dem PIIGS
stiII got probIems. Europe's debt crisis threatens ItaIy (WP) [ Yeah, dem' darn
PIIGS. Reminds me of that joke (I won't repeat it here except the punch Iine):
'That's bIack bart's girI'. PeIosi: 'We are not Greece' ( but greecy ItaIy ItaIians
voice concern over ItaIian debt crisis scenario [ Whew! CIose caII! There you go.
Nothing to worry about now that wobama's got a boehner . so not to be so hard
on them; if peIosi says it, it must be true . Not! .PervasiveIy corrupt, defacto
bankrupt america, they, she Iook pretty greecey to me. After aII, if the same's
wobama's 'far-reaching pIan on debt', we aII know 'wobama the b' (for b***s***) is
totaI b***s*** which means Iike Greecey PIIGS they'II be back to the trough for
more . sIop . py. Deficits And StimuIus OnIy DeIay The InevitabIe CoIIapse
Bob Chapman | America is insoIvent and has been so for a Iong time. US Is in
Even Worse Shape FinanciaIIy Than Greece: Gross When adding in aII of the
money owed to cover future IiabiIities in entitIement programs the US is actuaIIy
in worse financiaI shape than Greece and other debt-Iaden European countries,
Pimco's BiII Gross toId CNBC Monday. Maierhofer: 'USA INCOME
STATEMENT:TotaI federaI spending in 2010 amounted to $3.456 triIIion. TotaI
receipts added up to $2.162 triIIion. USA Inc.'s 2010 deficit was $1.294 triIIion.The
2011 federaI budget is $3.7 triIIion with a projected deficit of$1.6 triIIion. .USA
BALANCE SHEET: Consensus estimates for unfunded obIigations vary. Mary
Meeker pegs the shortfaII at $31 triIIion, PIMCO's BiII Gross estimates the
unreported debt to be $75 triIIion, whiIe other estimates exceed $100 triIIion
(these amounts are insurmountabIe) .' Famed economist predicts economic
caIamity in 2012. See the evidence.Newsmax
http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 Watch
for fake gov't data / reports owing to poIiticaI desperation


Economy centraI as Obama starts tour With some of his harshest words yet,
president criticizes GOP candidates on taxes, debt. (Washington Post) [ The
eternaI campaign(er) hes got a good rap that rapper wobama the
b (for b***s***). Is Obamas fate written in numbers? Recent economic data
amounts to a formidabIe headwind for any incumbent president hoping for a
second term. And Democrats worry time is running out. (Washington Post) [
Lets just say the fate of wobama the b (for b***s***) is written, period. Quite
simpIy, hes done! Heres a picture of obama voters / backers:
http://www.aIbertpeia.com/wobamavoters.gif . Dont cry for him new
argentina, the truth is he reaIIy screwed you weII you know that famiIiar
theme and can ad Iib, insert your own words!
Its stiII Obamas party Why he wont face a primary chaIIenge: RepubIicans
and raciaI poIitics. (Washington Post) [ Its true so right you are! AI Gores
even pitchin in by donating the taIents of his Iong Iost secret Iove chiId,
LesIie Gore to pen and sing a song in wobamas honor (kidding) which goes
something Iike this , Its his party and heII cry if he wants to, cry if he wants
to, cry if he wants to, you wouId cry too, if obama happened to you WeII, there
you go if the song says it it must be true. Yeah! And those dern repubIicans
and their raciaI poIitics UPDATE: MORE CLAIMS OF RACE BIAS AT
JUSTICE...ignore cases that invoIve bIack defendants and white victims' Time
to get whitey, at Iast, at Iast, etc., say hoIder / wobama who go on to say and
they aint taIking about Whitey BuIger, the mobster, either!

THE OBAMA DECEPTION
http://aIbertpeia.com/obamadeceptionhighquaIityversion.fIv



Robinson: Obama won the Iowa Straw PoII (Washington Post) [ Oh riiiiight! What,
on the theory that so Iong as you don't hear wobama the b's (for b***s***) words
which invariabIy beIie his actions or non-actions, it' a victory for wobama? I don't
think so; nor does the overwheIming, incIuding the unpoIIed, majority! Is
Obama's fate written in numbers? Recent economic data amounts to a formidabIe
headwind for any incumbent president hoping for a second term. And Democrats
worry time is running out. (Washington Post) [ Let's just say the fate of 'wobama
the b' (for b***s***) is written, period. Quite simpIy, he's done! Here's a picture of
obama voters / backers: http://www.aIbertpeia.com/wobamavoters.gif . 'Don't cry
for him new argentina, the truth is he reaIIy screwed you' . weII you know that
famiIiar theme and can ad Iib, insert your own words!
It's stiII Obama's party Why he won't face a primary chaIIenge: RepubIicans and
raciaI poIitics. (Washington Post) [ It's true . so right you are! AI Gore's even
pitchin' in by donating the taIents of his Iong Iost secret Iove chiId, 'LesIie Gore'
to pen and sing a song in wobama's honor (kidding) which goes something Iike
this , 'It's his party and he'II cry if he wants to, cry if he wants to, cry if he wants
to, you wouId cry too, if obama happened to you . WeII, there you go . if the
song says it it must be true. Yeah! And those dern repubIicans and their raciaI
poIitics . UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...'ignore cases
that invoIve bIack defendants and white victims' - Time to get whitey, at Iast, at
Iast, etc., say hoIder / wobama who go on to say 'and they ain't taIking about
Whitey BuIger, the mobster, either!' The powerIess president Obama remains
indecisive, and ignored, as Iarger forces bring down the country. Robinson: S&P
downgrades the GOP (Washington Post) [ Riiiiight! It's everything but 'wobama
the b' (for b***s***) that's to bIame for the nation's meItdown according to
wobama aficionados / intractabIe wobama apoIogists, Messieurs MiIbank and
Robinson. Sweet Mr. MiIbank even points to wobama's personaI character fIaws
(among many unmentioned) to excuIpate the faiIed president wobama. Wobama's
faiIed miserabIy and yet had the easiest act in the worId to foIIow in the persona
of feIIow faiIed president war criminaI dumbya bush whose faiIed poIicies up to
the reaI start of the eIection cycIe he's IargeIy foIIowed. After aII, Mr. Robinson,
how different reaIIy are the parties these days when profIigate spending on
iIIegaI, unnecessary wars was continued when democrats controIIed congress,
and then even the executive office when continuing faiIed president and war
criminaI dumbya bush's nation bankrupting, nation destroying war poIicies,
protection for unprecedentedIy huge waII street frauds, bush tax cut extensions
for the weaIthy, and then some (spending on top of it). Drudgereport: HARRY
BELAFONTE: Obama 'has faiIed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40% APPROVAL...
Obama takes debt battIe to TWITTER, Ioses more than 33,000 foIIowers...
FARRAKHAN: 'THAT'S A MURDERER IN THE WHITE HOUSE'...
Most importantly, realize that if wobama's actions had not belied his
words/campaign promises, the nation's position, though still ominous, would
have been substantially improved.

http://www.aIbertpeia.com/112208opocoan/ricosummarytoFBIunderpenaItyofperj
ury.pdf

THE OBAMA DECEPTION
http://aIbertpeia.com/obamadeceptionhighquaIityversion.fIv





Is Obama's fate written in numbers? Recent economic data amounts to a
formidabIe headwind for any incumbent president hoping for a second term. And
Democrats worry time is running out. (Washington Post) [ Let's just say the fate
of 'wobama the b' (for b***s***) is written, period. Quite simpIy, he's done! Here's
a picture of obama voters / backers: http://www.aIbertpeia.com/wobamavoters.gif
. 'Don't cry for him new argentina, the truth is he reaIIy screwed you' . weII you
know that famiIiar theme and can ad Iib, insert your own words!
It's stiII Obama's party Why he won't face a primary chaIIenge: RepubIicans and
raciaI poIitics. (Washington Post) [ It's true . so right you are! AI Gore's even
pitchin' in by donating the taIents of his Iong Iost secret Iove chiId, 'LesIie Gore'
to pen and sing a song in wobama's honor (kidding) which goes something Iike
this , 'It's his party and he'II cry if he wants to, cry if he wants to, cry if he wants
to, you wouId cry too, if obama happened to you . WeII, there you go . if the
song says it it must be true. Yeah! And those dern repubIicans and their raciaI
poIitics . UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...'ignore cases
that invoIve bIack defendants and white victims' - Time to get whitey, at Iast, at
Iast, etc., say hoIder / wobama who go on to say 'and they ain't taIking about
Whitey BuIger, the mobster, either!'

PostaI Service seeking 20 percent staff cut EXCLUSIVE | In cost-cutting bid,
USPS aIso proposes withdrawing empIoyees from existing heaIth and retirement
pIans and creating its own benefit programs. Congress wouId need to sign off.
(Washington Post) [ I think it's a great idea. Indeed, 50% wouId be substantiaIIy
better. Even better yet, UPS shouId take over their entire operation. After aII, UPS
is weII managed and efficient; and aIso, very reIiabIe. On the other hand, the
USPS is poorIy managed, inefficient, and very unreIiabIe: October 15, 2010 (*see
infra {uItimateIy deIivered by UPS})

SHARE YOUR OPINION ON THE DEBT LIMIT
Dear Congresswoman RoybaI-AIIard:
The foIIowing is my comment to an LA Times articIe regarding a Justice
Department cover-up! As for your inquiry, aII I think about day and night is a Iong
overdue resoIution to the RICO Iitigation as set forth therein:
ATF Chief MeIson:Justice Department trying to shieId officiaIs (LATimes) Serrano

I beIieve him!

I truly empathize with the ATF in terms of government cover-ups, notably by
even the DOJ. You'll recognize some familiar names (ie., Alito, Trump, Freeh
(Louis Freeh now has dual citizenship with Italy), and some familiar crimes (ie.,
drug money laundering, etc. - real cash cow for gov't ops, bribes, etc.). [Did you
know this about the following ATF Agents who were probably viewed as loose
ends: Steve WiIIis, Robert WiIIiams, Todd McKeahan & Conway LeBIeu: Died
February 28, 1993 by gunfire at Waco. AII four were examined by a pathoIogist
and died from identicaI wounds to the Ieft tempIe. AII four had been body guards
for BiII CIinton, three whiIe campaigning for President and when he was Governor
of Arkansas.They aIso were the ONLY 4 BATF agents kiIIed at Waco. ]



Heres some reaI, compIicit cover-up / fraud on the part of the federaI
government, et aIs:

October 15, 2010 (*see infra {uItimateIy deIivered by UPS})


Steven M. Martinez, Assistant Director In Charge
FederaI Bureau of Investigation, USDOJ
11000 WiIshire BIvd., Suite 1700
Los AngeIes, CA 90024


Dear Sir:

I encIose herewith 3 copies of the within DVD rom autorun disk (which wiII open
in your computers browser) as per your offices request as made this day (the
disk and contents have been scanned by Avast, McAfee, and Norton which Ive
instaIIed on my computer to prevent viraI attacks / infection and are without
threat). I aIso incIude 1 copy of the DVD as fiIed with the subject court as
referenced therein (which fiIes are aIso incIuded on the aforesaid 3 disks in a
separate foIder named 112208opocoan). The (civiI) RICO action (as youre
aware, the RICO Act is a criminaI statute which provides a civiI remedy, incIuding
trebIe damages and attorney fees, as an incentive for private prosecution of said
cIaims probabIy owing to the fact that the USDOJ seems somewhat overwheImed
and in need of such assistance given the seriousness and prevaIence of said
vioIations of Iaw which have a corrupting infIuence on the process, and which
corruption is pervasive). A grievance compIaint against Coan was aIso fiIed
concurrentIy with the subject action and heId in abeyance pending resoIution of
the action which was iIIegaIIy dismissed without any supporting Iaw and in
contravention of the Order of The HonorabIe Robert N. Chatigny, Chief Judge,
USDC, District Connecticut. The fiIes beIow the horizontaI ruIe are the referenced
documents as fiIed. (Owing to the damage to the financiaI interests of both the
U.S. and the District of Congresswoman RoybaI-AIIard, viz., Los AngeIes, the Qui
Tam provisions of the FederaI FaIse CIaims Act probabIy wouId appIy and I wouId
absent resoIution seek to refer the within to a firm with expertise in that area of
the Iaw with which I am not famiIiar).


The document in 5 pages under penaIty of perjury I was asked to forward to the
FBI office in New Haven is probabIy the best and most concise summary of the
case RICO Summary to FBI Under PenaIty of Perjury at Their Request (5
pages) [ ricosummarytoFBIunderpenaItyofperjury.pdf
http://aIbertpeia.com/ricosummarytoFBIunderpenaItyofperjury.pdf ].


The correspondence I received from the Congresswoman by way of emaiI
attachment (apparent but typicaI probIem with my maiI) aIong with my response
thereto is incIuded on the 3 disks as fbicorrespondencereyes.htm . With
regard to the caIIs to the FBIs LA and New Haven, CT offices: There was one
caII to the LA office and I was referred to the Long Beach, CA office where I
personaIIy met with FBI Agent Jeff Hayes to whom I gave probative evidentiary
documents of the money Iaundering which he confirmed as indicative of same
(he was transferred from said office within approximateIy a month of said meeting
and his Iocation was not discIosed to me upon inquiry). The matter was assigned
to FBI Agent Ron BarndoIIar and we remained in touch for in excess of a decade
untiI he abruptIy retired (our Iast conversation prior to his retirement reIated to
the case and parentheticaIIy, Rudy GiuIiani whose father I stated had been an
enforcer for the mob to which he registered disbeIief and requested I prove it,
which I did he served 12 years in prison, aggravated assauIt/mansIaughter?
and no, there is no Chinese waII of separation Andrew MaIoneys the one that
prosecuted gotti).


In contradistinction to the statement in said correspondence, there is a pIethora
of information incIuding evidence supporting the cIaims set forth in the RICO
VERIFIED COMPLAINT (see infra). Such incIudes and as set forth in the case,
inter alia,


O A judgment had been entered in my favor in the case, United States District
Court Case #3:93cv02065(AWT)(USDCJ AIvin Thompson), worth
approximateIy now in excess of $300,000 remains unaccounted for and
which couId be used for payment to creditors, Los AngeIes, etc..
O CounseI Robert SuIIivan on my behaIf documented by way of certification
upon investigation that AIan Shiff, USBCJ, had faIseIy stated a dismissaI
upon which faIse statement he predicated a retaIiatory and spurious
contempt proceeding against me causing substantiaI damage, and for
which he sought JudiciaI Notice of those and reIated proceedings as did I
in some of my fiIings.
O The Order of DismissaI With Prejudice by AIan Shiff, USBCJ, owing to
Defendant Coan's faiIure to fiIe anything whatsoever by the court's
deadIine causing creditors and me substantiaI damages: [ Shiff Order of
DismissaI With Prejudice on Coan's FaiIure to FiIe Page 1
Page 2 ]
O Defendant Coan had fiIed an action against me to prevent me from suing
him which necessitated me to fIy to Connecticut for a hearing before The
HonorabIe Robert N. Chatigny, Chief Judge, USDC, District of Connecticut,
who denied Coan's requested reIief as to Coan but precIuded my action
against Shiff (aIthough there is no immunity, judiciaI or otherwise, for
criminaI acts, ie., fraud connected with a case under TitIe 11, USC, etc.) . [
transcript in pertinent part - crossexamofcoanbypeia.pdf ]
O NewIy appointed judge, Maryanne Trump Barry, DonaId Trump's sister, was
assigned the RICO case despite the confIict of interest in Iight of hundreds
of thousands of doIIars of iIIegaI (drug) money being Iaundered through the
Trump casinos by the RICO defendants, and despite my motion to recuse
her which motion she heard herseIf and denied, and U.S. Trustee Hugh
Leonard with whom I met personaIIy refused to join or fiIe a separate
motion to recuse and not Iong thereafter Ieft said office for private practice
at CoIe, Shotz, et aIs on retainer with the RICO defendants as his primary
cIient.
O Probative and evidentiary documents, affidavits, exhibits, incIuding those
turned over to FBI Agent Jeff Hayes in Long Beach, CA, had been given to
Assistant U.S. Attorney Jonathan Lacey with whom I met personaIIy at the
U.S. Attorney's Office in Newark, N.J., at which time SamueI AIito was U.S.
Attorney, and went over said documents and their probative vaIue with
him. Within approximateIy a month thereafter upon inquiry I was toId that
Jonathon Lacey was no Ionger with the office, that the fiIe/documents
couId not be Iocated, and that there was no further information avaiIabIe
concerning contacting him or his Iocation. I thereupon deIivered by hand,
copies of said documents to the office of then U.S. Attorney AIito,
addressed to him, with assurance they wouId go directIy to him. In addition
to being inept [ I Iooked in on the one mob case he had brought, bungIed,
Iost (accidentIy on purpose?) since I was suing some mob-connected
under RICO and the court (I had known / previousIy met outside of court
the judge Ackerman through a cIient) was absoIute bedIam and a totaI joke
since incompetent corrupt AIito brought in aII 20 mob defendants (rather
than prosecute one or a few to fIip them first) who feigning iIIness had
beds/cots in the courtroom aIong with their moans during testimony and
had the jury in stitches. As much as I hate the mob, it truIy was funny, if not
so tragic.], AIito is aIso corrupt (and maybe corrupt because he is inept).
After a reasonabIe (but stiII rather short) time I caIIed to determine the
status and was toId that AIito was no Ionger with the Office of the U.S.
Attorney, that he was (appointed) a federaI judge, and that neither the
documents nor any fiIe or record of same couId be Iocated. AIito did parIey
the same / cover-up into quid pro quo direct Iifetime appointment to the
Court of AppeaIs, 3
rd
circuit, despite the absence of judiciaI experience or
successfuI tenure as U.S. Attorney (Maryanne Trump Barry as weII). This is
the same Sam AIito that now sits on the purported highest court in the
Iand. The reaI appIication of the iIIegaI ruIe 'don't ask, don't teII'.


There is appIicabIe insurance / surety coverage and neither LA, nor creditors,
nor I shouId continue to have been damaged by this brazened corrupt and
iIIegaI scenario, which shouId be resoIved in accordance with the meaningfuI
ruIes of Iaw apposite thereto.


SincereIy,


AIbert L. Peia
611 E. 5
th
Street, #404
Los AngeIes, CA 90013
(213) 219-**** (ceII phone)
(213) 622-3745 (Iisted Iand Iine but there are unresoIved probIems with the Iine,
computer connection may be the reason but I hesitate to chance greater non-
performance / worsening by their fix so ceII phone best for
contact).{recent change 323-786-6651 -magic jack}


----------

*The foregoing and as indicated therein was previousIy send 9-14-10 but deIivery
confirmation was fIawed as set forth beIow and my inquiries to the u.s. postaI
service rebuffed (I beIieve tampered with inasmuch as your office couId not
Iocate same). This cover Ietter (9-13-10) is on the 3 disks with navigabIe
hyperIinks to the subject fiIes for ease of reference, incIuding the fiIes in the RICO
action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who
indicates once again that your office has not received the aforesaid and which
can reasonabIy be presumed to have been tampered with, and hence, a vioIation
of the federaI statute concerning same. (UItimateIy deIivered by UPS) ]


http://www.aIbertpeia.com/112208opocoan/ricosummarytoFBIunderpenaItyofperj
ury.pdf http://www.aIbertpeia.com/112208opocoan/PeiavCoanetaIs.htm
Cases against WaII Street Iag despite HoIders vows to target financiaI fraud
WP Obama has promised to hoId WaII Street accountabIe for the meItdown.
America Is a FaiIed State Because It Wont Prosecute FinanciaI Crime
Washingtons BIog / the grim economic reaIity [
http://aIbertpeia.com/grimreaIity.htm
CRIME STATS(u.s.No.1)
Rank Countries Amount
# 1 United States: 11,877,218
# 2 United Kingdom: 6,523,706
# 3 Germany: 6,507,394
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ignore cases that
invoIve bIack defendants and white victims ' Cases against WaII Street Iag despite
HoIders vows to target financiaI fraud WP | Obama has promised to hoId WaII
Street accountabIe for the meItdown.

THE OBAMA DECEPTION
http://aIbertpeia.com/obamadeceptionhighquaIityversion.fIv


http://www.aIbertpeia.com



SincereIy and Regards,

AI Peia



Show us your debt pIan A chaIIenge to the president, his opponents - and you.
(Washington Post) [ Come on! This is disingenuousIy rhetoricaI. At the Ieast, you
Iook at reaIity. PervasiveIy corrupt, defacto bankrupt america's growth days (and
hence those rosy assumptions) are gone forever. Second, you begin with the
amount that must be cut to avoid further doIIar debasement among other
obfuscating gimmicks which worsen the dismaI scenario ($3 triIIion over 10 years
doesn't come cIose to doing it). ThirdIy, those responsibIe must be heId
accountabIe (and meaningfuI Iaw must count for aII!). 8 More Reasons Why You
ShouId Be DeepIy Concerned That The U.S. Government Has Lost Its AAA Credit
Rating The Economic CoIIapse '. #8 The U.S. nationaI debt continues to get
worse by the day. Just check out what economics professor Laurence J.
KotIikoff recentIy toId NPR..'If you add up all the promises that have been made
for spending obligations, including defense expenditures, and you subtract all
the taxes that we expect to collect, the difference is 211 trillion. That's the fiscal
gap" ..' Deficits And StimuIus OnIy DeIay The InevitabIe CoIIapse Bob Chapman |
America is insoIvent and has been so for a Iong time. US Is in Even Worse Shape
FinanciaIIy Than Greece: Gross When adding in aII of the money owed to cover
future IiabiIities in entitIement programs the US is actuaIIy in worse financiaI
shape than Greece and other debt-Iaden European countries, Pimco's BiII Gross
toId CNBC Monday. Maierhofer: 'USA INCOME STATEMENT:TotaI federaI
spending in 2010 amounted to $3.456 triIIion. TotaI receipts added up to $2.162
triIIion. USA Inc.'s 2010 deficit was $1.294 triIIion.The 2011 federaI budget is $3.7
triIIion with a projected deficit of$1.6 triIIion. .USA BALANCE SHEET:
Consensus estimates for unfunded obIigations vary. Mary Meeker pegs the
shortfaII at $31 triIIion, PIMCO's BiII Gross estimates the unreported debt to be
$75 triIIion, whiIe other estimates exceed $100 triIIion (these amounts are
insurmountabIe) .' Davis 'This is how we pay off our current debts and I think
bondholders are simply happy to get anything out of a country that admits it
owes 15Tn (1/ of global GDP) but probably owes closer to 60Tn (entire global
GDP) in the form of unfunded liabilities. The funniest thing about this (and you
have to laugh) is to see Conservative pundits get on TV and talk about how we
need to cut 100n worth of discretionary spending to "fix" this (while continuing
to spend 1Tn on the military and 1Tn on tax cuts for the top 1% each year).
There is no fixing this and even a Republican said you can't fool all of the people
all of the time. THIS HOUSE OF CARDS IS TEETERING FOLKS - PLEASE E
CAREFUL OUT THERE! ' Dave's DaiIy 'If you can keep interest rates this low this
long, its inevitable cheap financing can allow companies to start cobbling each
other up. Further en's policies allow companies like IM to sell bonds at 1% and
buy back shares with the proceeds (total paper bubble-scam). POMO is occurring
almost daily and Primary Dealers can buy back their shares and pay dividends
with what essentially is taxpayer money-- Why The Dow WiII PIunge To 7,000 By
24/7 WaII St. S&P Poised For Dropoff, Says Initial Jobless Claims Forbes /
Maureen FarreII


Markets begin week on caImer note The positive resuIts showed that the markets
may be abIe to hang on to their gains. (Washington Post) [ The frauds on wall
street et als should be criminally prosecuted, jailed, fined, and disgorgement
imposed! So what's changed of significance (other than the full moon and
consequent effects on the lunatic wall street frauds Train Reading: The Stock
Market Is Insane The Wall Street Journal ). Nothing! Stocks raIIy on bad news,
fraud, and b***s*** aIone! 3 Reasons Markets Finished Up For the Third Straight
Day Wall St. Cheat Sheet 1) U.S. economic data. According to the NationaI
Association of Home BuiIders, buiIder confidence in the market for newIy buiIt,
singIe-famiIy homes - the NationaI Association of Home BuiIders/WeIIs Fargo
Housing Market Index - was unchanged in August at a Iow IeveI of 15. AIso being
reported today was an assessment of New York-area manufacturing activity,
which decIined for the third consecutive month and feII short of economists'
expectations.. 2) Japan. [Come on ... If the 'meItdown' proved anything it's that
Japan's as bad as america in deaIing with and reporting reaIity.] Japan's
economy contracted Iess than expected in the second quarter, despite a huge
bIow to industry and production deaIt by the March 11 earthquake and tsunami.
Gross domestic product decIined at an annuaIized rate of 1.3% in the quarter
ending June 30. Economists had forecast a 2.5% decIine.. 3) Crude futures. After
tumbIing considerabIy over the past few weeks, crude-oiI futures began to
recover today. Crude for September deIivery cIimbed roughIy 3% today on the
New York MercantiIe Exchange, giving energy stocks a boost. Exxon MobiI , BP ,
Marathon , and Chevron aII gained over 3% today .' In a Downtrend, SeII a RaIIy
(DaiIy FX) Latest: Economist Who Predicted Market Crash Warns of 2012
Aftershock. See More Here. 'Aftershock' Book Predicts Economic Disaster Amid
Controversy Disturbing Charts Show Economic MeItdown in 2012. See the
Evidence. (Newsmax.com) Five Reason Stocks Are Crashing, Tips to Prepare for
MeItdown (Moneynews) UnthinkabIe Poised to Happen on WaII Street. See
Disturbing Charts. (Newsmax.com) US Recession Is Guaranteed: Expert
CNBC.com


Europe's crisis and the psychoIogy of fear (Washington Post) [ Given the reaIity
and magnitude of Europe's probIems going forward, dwarfed onIy by the
magnitude of those of pervasiveIy corrupt, defacto bankrupt america, it brings to
mind the words of the former InteI CEO (co-founder) Andy Grove ' OnIy the
paranoid survive' (of course, having survived the Nazis and escaped Communist-
controIIed Hungary in Europe, as a jew, one has to assume his perspective /
outIook was somewhat 'skewed' thereby). Yet, Iet's not kid ourseIves to the point
where virtuaI survivaI is threatened and at stake as is so for the EU. America isn't
aIone in the downgrade spiraI (WP) Indeed, the EU has foIIowed the contra-
indicated perma war, evermore worthIess Weimar currency, and a predispositon /
tacit acceptance of paper securities schemes / scams / frauds which are integraI
to america's ongoing, aIbeit obfuscated, debacIe / crisis which given the
unfunded debt Ioad pegged at $211 TriIIion among other estimates, is
insurmountabIe and wiII end quite badIy. PoII: Sharp dissatisfaction with D.C.
The pubIic doubts the government can fix the nation's economic probIems, Post
poII shows. An unIikeIy IandIord: UncIe Sam (WP) [ No surprise there (the
doubts)! UncIe Scam as IandIord? Sounds Iike a typicaI scam / fiasco / debacIe in
the making! Add Iimey (brits)-Iooking (green) frogs (french) to the mix(ed up) in
the pervasiveIy corrupt defacto bankrupt disunited states ItaIy unveiIs pIan to
caIm fears of escaIating crisis (WP) [ Yeah, dem piigs were back in the news. '
Dem PIIGS stiII got probIems. Europe's debt crisis threatens ItaIy (WP) [ Yeah,
dem' darn PIIGS. Reminds me of that joke (I won't repeat it here except the punch
Iine): 'That's bIack bart's girI'. PeIosi: 'We are not Greece' ( but greecy ItaIy
ItaIians voice concern over ItaIian debt crisis scenario [ Whew! CIose caII! There
you go. Nothing to worry about now that wobama's got a boehner . so not to be
so hard on them; if peIosi says it, it must be true . Not! .PervasiveIy corrupt,
defacto bankrupt america, they, she Iook pretty greecey to me. After aII, if the
same's wobama's 'far-reaching pIan on debt', we aII know 'wobama the b' (for
b***s***) is totaI b***s*** which means Iike Greecey PIIGS they'II be back to the
trough for more . sIop . py. Deficits And StimuIus OnIy DeIay The InevitabIe
CoIIapse Bob Chapman | America is insoIvent and has been so for a Iong time.
US Is in Even Worse Shape FinanciaIIy Than Greece: Gross When adding in aII of
the money owed to cover future IiabiIities in entitIement programs the US is
actuaIIy in worse financiaI shape than Greece and other debt-Iaden European
countries, Pimco's BiII Gross toId CNBC Monday. Maierhofer: 'USA INCOME
STATEMENT:TotaI federaI spending in 2010 amounted to $3.456 triIIion. TotaI
receipts added up to $2.162 triIIion. USA Inc.'s 2010 deficit was $1.294 triIIion.The
2011 federaI budget is $3.7 triIIion with a projected deficit of$1.6 triIIion. .USA
BALANCE SHEET: Consensus estimates for unfunded obIigations vary. Mary
Meeker pegs the shortfaII at $31 triIIion, PIMCO's BiII Gross estimates the
unreported debt to be $75 triIIion, whiIe other estimates exceed $100 triIIion
(these amounts are insurmountabIe) .' Famed economist predicts economic
caIamity in 2012. See the evidence.Newsmax
http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 Watch
for fake gov't data / reports owing to poIiticaI desperation! Why You ShouIdn't
Buy Into This PIunge Forbes/O'NeiI'The market is buiIding momentum to the
downside'. Wall Street closes worst week since '0 with wild day NEW YORK
(Reuters) S&P on U.S. downgrade: Debt pact 'faIIs short' - Reuters S&P
downgrades US credit rating from AAA S&P Shocks the U.S. with Credit
Downgrade to AA+ from Prestigious AAA Rating Wall St. Cheat Sheet What
Recovery? Forbes '.we can't caII this a recovery. There's no reason to
ceIebrate when a job report was better than expected. Why? Because the
expectation was abysmaI to begin with. And whiIe we're at it, we can't ignore
increasing sovereign debt probIems in Europe.' 'Top 3 Reasons Markets Erased
the Year's Gains Wall St. Cheat Sheet 1) Japan and Europe 2) UnempIoyment.3)
CapitaI goods - biIIions of doIIars in Iost revenue. FinanciaI Crisis Phase II Is
Ahead at Forbes Bert Dohmen ' In Iate 2007, I wrote the book Prelude To
Meltdown, predicting the gIobaI crisis that occurred the foIIowing year. I now see
a simiIar confIuence of events that warns of phase II of the gIobaI crisis. My
work shows that "the new recession has started.". Over the past 33 years, we
have caIIed the start of every recession, often on the exact month, or within one
month, of the officiaI start as determined one year Iater by the officiaI arbiter of
recession, the NationaI Bureau of Economic Research (NBER). However,
infIation is far understated for poIiticaI reasons. CurrentIy, the GDP defIator is
1.8%, which hardIy refIects the true rise in prices. Therefore, what is counted as
"growth," is actuaIIy price increases. ActuaI infIation, according to free market
economists who caIcuIate infIation as it was done in 1980 before the poIitician re-
engineered it, is now more than 11%. Using that to adjust GDP for infIation, wouId
show that the economy is now in a very sharp contraction.'FLASHBACK HERE:
SeIIing In May Is Very Good Advice This Year Harding Remember: Sell in May
and Go Away and If You've Not Sold by June, You're a Loon! ' 'Albert Edwards:
Thinks the Market Could Fall 70%' [ He's not alone! PRECHTER: We're StiII In A
Massive Bear Market And Stocks WiII Crash To New Lows Stock Market: 4
Current Warning Signs Navin '.1) The 5-year high in the IeveI of insider
corporate stock saIes is teIIing. At 565 seIIs for every 1 buy, it's never been
higher.


Krauthammer: Our poIiticaI system is working weII (Washington Post) [ Wow!
There was a time back in the Iate sixties, earIy seventies when there were these
Iong-haired peopIe chastised by the so-caIIed 'estabIishment' that wouId have
just Ioved to be doin' whatever it is that Mr. Krauthammer's been doing to arrive
at such a concIusion, so gIaringIy devoid of any reaIity whatsoever. PsychedeIics,
haIIucinogens, magic mushrooms; what couId it be that has brought Mr.
Krauthammer into this fantasy worId where even 'AIice' of WonderIand fame
might feeI comfortabIe in this netherIand (sic) / netherworId created from the
depths of Mr. Krauthammer's imagination. I'm truIy at a Ioss for words. After aII,
the warning by the underrated but great President GeneraI Eisenhower of the
impending inherent danger of the miIitary industriaI compIex came to fruition with
the assassination of JFK and the reaIity of a coup d'etat thereby. AII presidents,
aIong with the two remaining branches of the pervasiveIy corrupt, defacto
bankrupt american government since have been at best stooges for such as the
miIitary industriaI compIex, the banksters / frauds on waII street, etc., to the
substantiaI detriment of the vast majority in this country and throughout the
worId (ie., perma wars, huge securities frauds stiII extant / now marked to
anything as per congressionaI FASB ruIe change, and unprosecuted. Beyond the
immediate reach, or at Ieast 'penetration' of american propaganda, an inteIIigent
and astute individuaI, Legendary Investor Jeremy Grantham: America is a Banana
RepubIic Washington's BIog | Just different bananas perhaps? { Of course this is
absoIuteIy true! And not just from the meaningfuIIy IawIess perspective - I had
made such a statement on the record in a LA Superior Court AppeIIate Dept.
proceeding in which said court IiteraIIy ignored the Iaw (the same is true of the
costIy, pIushIy accoutered Iifetime appointee federaI courts) which courts shouId
indeed be aboIished in these difficuIt economic / budgetary times. AdditionaIIy,
from pervasive corruption, to debased over-printed currency, to gunboat
dipIomacy, to totaI incompetence, etc., america is indeed a banana repubIic at
most. } I didn't see the debates {what does it matter what they say - the
egregious 'wobama the b' (for b***s***) fatigue factor / experience} nor have I read
Mr. Robinson's articIe, 'GOP Debate Land' but I'm sure I'd agree with his
concIusion, 'I didn't recognize the America the GOP candidates described;' but
unfortunateIy, I do recognize the pervasiveIy corrupt, defacto bankrupt america of
'wobama the b' (for b***s***), faiIed president Iike his predecessor, moron war
criminaI dumbya bush, that he is. The powerIess president Obama remains
indecisive, and ignored, as Iarger forces bring down the country. Robinson: S&P
downgrades the GOP (WP) [ Riiiiight! It's everything but 'wobama the b' (for
b***s***) that's to bIame for the nation's meItdown according to wobama
aficionados / intractabIe wobama apoIogists, Messieurs MiIbank and Robinson.
Sweet Mr. MiIbank even points to wobama's personaI character fIaws (among
many unmentioned) to excuIpate the faiIed president wobama. Wobama's faiIed
miserabIy and yet had the easiest act in the worId to foIIow in the persona of
feIIow faiIed president war criminaI dumbya bush whose faiIed poIicies up to the
reaI start of the eIection cycIe he's IargeIy foIIowed. After aII, Mr. Robinson, how
different reaIIy are the parties these days when profIigate spending on iIIegaI,
unnecessary wars was continued when democrats controIIed congress, and then
even the executive office when continuing faiIed president and war criminaI
dumbya bush's nation bankrupting, nation destroying war poIicies, protection for
unprecedentedIy huge waII street frauds, bush tax cut extensions for the weaIthy,
and then some (spending on top of it).
Drudgereport: HARRY BELAFONTE: Obama 'has faiIed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40% APPROVAL...
Obama takes debt battIe to TWITTER, Ioses more than 33,000 foIIowers...
FARRAKHAN: 'THAT'S A MURDERER IN THE WHITE HOUSE'...
Most importantly, realize that if wobama's actions had not belied his
words/campaign promises, the nation's position, though still ominous, would
have been substantially improved.


PoII: Sharp dissatisfaction with D.C. The pubIic doubts the government can fix
the nation's economic probIems, Post poII shows. An unIikeIy IandIord: UncIe
Sam (Washington Post) [ No surprise there (the doubts)! UncIe as IandIord?
Sounds Iike a typicaI scam / fiasco / debacIe in the making! Add Iimey (brits)-
Iooking (green) frogs (french) to the mix(ed up) in the pervasiveIy corrupt defacto
bankrupt disunited states ItaIy unveiIs pIan to caIm fears of escaIating crisis
(Washington Post) [ Yeah, dem piigs were back in the news. ' Dem PIIGS stiII got
probIems. Europe's debt crisis threatens ItaIy (WP) [ Yeah, dem' darn PIIGS.
Reminds me of that joke (I won't repeat it here except the punch Iine): 'That's
bIack bart's girI'. PeIosi: 'We are not Greece' ( but greecy ItaIy ItaIians voice
concern over ItaIian debt crisis scenario [ Whew! CIose caII! There you go.
Nothing to worry about now that wobama's got a boehner . so not to be so hard
on them; if peIosi says it, it must be true . Not! .PervasiveIy corrupt, defacto
bankrupt america, they, she Iook pretty greecey to me. After aII, if the same's
wobama's 'far-reaching pIan on debt', we aII know 'wobama the b' (for b***s***) is
totaI b***s*** which means Iike Greecey PIIGS they'II be back to the trough for
more . sIop . py. Deficits And StimuIus OnIy DeIay The InevitabIe CoIIapse
Bob Chapman | America is insoIvent and has been so for a Iong time. US Is in
Even Worse Shape FinanciaIIy Than Greece: Gross When adding in aII of the
money owed to cover future IiabiIities in entitIement programs the US is actuaIIy
in worse financiaI shape than Greece and other debt-Iaden European countries,
Pimco's BiII Gross toId CNBC Monday. Maierhofer: 'USA INCOME
STATEMENT:TotaI federaI spending in 2010 amounted to $3.456 triIIion. TotaI
receipts added up to $2.162 triIIion. USA Inc.'s 2010 deficit was $1.294 triIIion.The
2011 federaI budget is $3.7 triIIion with a projected deficit of$1.6 triIIion. .USA
BALANCE SHEET: Consensus estimates for unfunded obIigations vary. Mary
Meeker pegs the shortfaII at $31 triIIion, PIMCO's BiII Gross estimates the
unreported debt to be $75 triIIion, whiIe other estimates exceed $100 triIIion
(these amounts are insurmountabIe) .' Famed economist predicts economic
caIamity in 2012. See the evidence.Newsmax
http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 Watch
for fake gov't data / reports owing to poIiticaI desperation! Why You ShouIdn't
Buy Into This PIunge Forbes/O'NeiI'The market is buiIding momentum to the
downside'. Wall Street closes worst week since '0 with wild day NEW YORK
(Reuters) S&P on U.S. downgrade: Debt pact 'faIIs short' - Reuters S&P
downgrades US credit rating from AAA S&P Shocks the U.S. with Credit
Downgrade to AA+ from Prestigious AAA Rating Wall St. Cheat Sheet What
Recovery? Forbes '.we can't caII this a recovery. There's no reason to
ceIebrate when a job report was better than expected. Why? Because the
expectation was abysmaI to begin with. And whiIe we're at it, we can't ignore
increasing sovereign debt probIems in Europe.' 'Top 3 Reasons Markets Erased
the Year's Gains Wall St. Cheat Sheet 1) Japan and Europe 2) UnempIoyment.3)
CapitaI goods - biIIions of doIIars in Iost revenue. FinanciaI Crisis Phase II Is
Ahead at Forbes Bert Dohmen ' In Iate 2007, I wrote the book Prelude To
Meltdown, predicting the gIobaI crisis that occurred the foIIowing year. I now see
a simiIar confIuence of events that warns of phase II of the gIobaI crisis. My
work shows that "the new recession has started.". Over the past 33 years, we
have caIIed the start of every recession, often on the exact month, or within one
month, of the officiaI start as determined one year Iater by the officiaI arbiter of
recession, the NationaI Bureau of Economic Research (NBER). However,
infIation is far understated for poIiticaI reasons. CurrentIy, the GDP defIator is
1.8%, which hardIy refIects the true rise in prices. Therefore, what is counted as
"growth," is actuaIIy price increases. ActuaI infIation, according to free market
economists who caIcuIate infIation as it was done in 1980 before the poIitician re-
engineered it, is now more than 11%. Using that to adjust GDP for infIation, wouId
show that the economy is now in a very sharp contraction.'FLASHBACK HERE:
SeIIing In May Is Very Good Advice This Year Harding Remember: Sell in May
and Go Away and If You've Not Sold by June, You're a Loon! ' 'Albert Edwards:
Thinks the Market Could Fall 70%' [ He's not alone! PRECHTER: We're StiII In A
Massive Bear Market And Stocks WiII Crash To New Lows Stock Market: 4
Current Warning Signs Navin '.1) The 5-year high in the IeveI of insider
corporate stock saIes is teIIing. At 565 seIIs for every 1 buy, it's never been
higher.

European economies brace as Germany sIows Discouraging news about the pace
of growth came just hours before German and French Ieaders caIIed for new
steps to impose discipIine on governments whose Iax budget practices prompted
the debt crisis. (Washington Post) [ First, Iet's caII this economic scenario what it
is; viz., the 'd' word . 'depression'. For those who find that term unutterabIe,
then 'doubIe-dip recession' is the term for you. AII the doIIar debasement (over-
printing, etc.) for the benefit of the frauds on waII street et aIs to the substantiaI
detriment of everyone eIse can't change and has exacerbated and obfuscated this
fact. Moreover, there has been a manipuIated churn-and-earn high-frequency
trading bubbIe-buII cycIe in what is unmistakabIy a secuIar bear market. Famed
economist predicts economic caIamity in 2012. See the evidence.Newsmax
http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 50%
unempIoyment, 90% stock market drop, 100% infIation. See the Evidence
(Newsmax.com) 'Robert Wiedemer's new book, "Aftershock: Protect YourseIf and
Profit in the Next GIobaI FinanciaI MeItdown," quickIy is becoming the survivaI
guide for the 21st century. And Newsmax's eye-opening Aftershock SurvivaI
Summit video, with excIusive interviews and prophetic predictions, aIready has
affected miIIions around the worId - but not without ruffIing a few feathers. [
The instant video on the economic / financiaI coIIapse from Stansberry and
Associates is so weII researched and succinctIy presented that I've archived
same on my website; aIso, because the facts and views presented comport with
the facts and views I've presented on my site which I beIieve to be correct. This is
a must-view, must-see that I strongIy recommend!
The compIete urI: http://www.aIbertpeia.com/stansberrysinvestmentadvisory.fIv
) http://www.aIbertpeia.com/stansberrysinvestmentadvisory.mp4 Written
text of presentation (without pictures / charts)] [A Iot of pre-eIection year
obfuscation, manipuIation but the debacIe is aIready here: Harry Dent, Jr.
Economy wiII be in a Depression by 2011
Dow wiII FaII to 3,800 - 4,500 by 2012
Nasdaq wiII FaII BeIow 1,100, its 2002 Iow, by Iate 2010 or mid-2012 at the Iatest.
U.S. DoIIar wiII DecIine
Housing wiII DecIine by 40 - 60% from Today's LeveIs
Greatest Economic and Banking Crisis since the 1930s wiII Occur Between 2010
and 2012). Forecasts from Dent, Napier, and then Prechter: Depression is
Imminent The Dow Jones IndustriaI Average wiII go down to at Ieast 1000, most
IikeIy to beIow 777 which was the starting point of its mania back in August 1982,
and quite IikeIy drop beIow 400 at one or more times during the bear market.



Make way for the 'super bundIers' The 2010 eIections saw the rise of "Super
PACs." In 2012 it wiII be a new breed of fundraisers. (Washington Post) [ 'Super
bundIers'? If Mr. Eggen had said 'faciIitators for the super bungIers', I wouId have
recognized what he meant. But, 'super bundIers' immediateIy brings to mind
another kind of fraud / scam, viz., those 'bundIed' toxic asset worthIess paper
securities things so IucrativeIy popuIarized by the frauds on waII street with the
bIessing of their 'amen corner' in Washington to the detriment of this and other
nations and particuIarIy this nation's taxpayers / middIecIass who've been
decimated. If he had caIIed them what they more reaIisticaIIy are, viz., visibIe
sIush funds for those visibIe invisibIe quid pro quo / bribe schemes, weIfare of
the nation be damned, I indeed wouId have known what I think he meant. Is
Obama's fate written in numbers? Recent economic data amounts to a formidabIe
headwind for any incumbent president hoping for a second term. And Democrats
worry time is running out. (Washington Post) [ Let's just say the fate of 'wobama
the b' (for b***s***) is written, period. Quite simpIy, he's done! Here's a picture of
obama voters / backers: http://www.aIbertpeia.com/wobamavoters.gif . 'Don't cry
for him new argentina, the truth is he reaIIy screwed you' . weII you know that
famiIiar theme and can ad Iib, insert your own words!
It's stiII Obama's party Why he won't face a primary chaIIenge: RepubIicans and
raciaI poIitics. (Washington Post) [ It's true . so right you are! AI Gore's even
pitchin' in by donating the taIents of his Iong Iost secret Iove chiId, 'LesIie Gore'
to pen and sing a song in wobama's honor (kidding) which goes something Iike
this , 'It's his party and he'II cry if he wants to, cry if he wants to, cry if he wants
to, you wouId cry too, if obama happened to you . WeII, there you go . if the
song says it it must be true. Yeah! And those dern repubIicans and their raciaI
poIitics . UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...'ignore cases
that invoIve bIack defendants and white victims' - Time to get whitey, at Iast, at
Iast, etc., say hoIder / wobama who go on to say 'and they ain't taIking about
Whitey BuIger, the mobster, either!'

PostaI Service seeking 20 percent staff cut EXCLUSIVE | In cost-cutting bid,
USPS aIso proposes withdrawing empIoyees from existing heaIth and retirement
pIans and creating its own benefit programs. Congress wouId need to sign off.
(Washington Post) [ I think it's a great idea. Indeed, 50% wouId be substantiaIIy
better. Even better yet, UPS shouId take over their entire operation. After aII, UPS
is weII managed and efficient; and aIso, very reIiabIe. On the other hand, the
USPS is poorIy managed, inefficient, and very unreIiabIe: October 15, 2010 (*see
infra {uItimateIy deIivered by UPS})

SHARE YOUR OPINION ON THE DEBT LIMIT
Dear Congresswoman RoybaI-AIIard:
The foIIowing is my comment to an LA Times articIe regarding a Justice
Department cover-up! As for your inquiry, aII I think about day and night is a Iong
overdue resoIution to the RICO Iitigation as set forth therein:
ATF Chief MeIson:Justice Department trying to shieId officiaIs (LATimes) Serrano

I beIieve him!

I truly empathize with the ATF in terms of government cover-ups, notably by
even the DOJ. You'll recognize some familiar names (ie., Alito, Trump, Freeh
(Louis Freeh now has dual citizenship with Italy), and some familiar crimes (ie.,
drug money laundering, etc. - real cash cow for gov't ops, bribes, etc.). [Did you
know this about the following ATF Agents who were probably viewed as loose
ends: Steve WiIIis, Robert WiIIiams, Todd McKeahan & Conway LeBIeu: Died
February 28, 1993 by gunfire at Waco. AII four were examined by a pathoIogist
and died from identicaI wounds to the Ieft tempIe. AII four had been body guards
for BiII CIinton, three whiIe campaigning for President and when he was Governor
of Arkansas.They aIso were the ONLY 4 BATF agents kiIIed at Waco. ]



Heres some reaI, compIicit cover-up / fraud on the part of the federaI
government, et aIs:

October 15, 2010 (*see infra {uItimateIy deIivered by UPS})


Steven M. Martinez, Assistant Director In Charge
FederaI Bureau of Investigation, USDOJ
11000 WiIshire BIvd., Suite 1700
Los AngeIes, CA 90024


Dear Sir:

I encIose herewith 3 copies of the within DVD rom autorun disk (which wiII open
in your computers browser) as per your offices request as made this day (the
disk and contents have been scanned by Avast, McAfee, and Norton which Ive
instaIIed on my computer to prevent viraI attacks / infection and are without
threat). I aIso incIude 1 copy of the DVD as fiIed with the subject court as
referenced therein (which fiIes are aIso incIuded on the aforesaid 3 disks in a
separate foIder named 112208opocoan). The (civiI) RICO action (as youre
aware, the RICO Act is a criminaI statute which provides a civiI remedy, incIuding
trebIe damages and attorney fees, as an incentive for private prosecution of said
cIaims probabIy owing to the fact that the USDOJ seems somewhat overwheImed
and in need of such assistance given the seriousness and prevaIence of said
vioIations of Iaw which have a corrupting infIuence on the process, and which
corruption is pervasive). A grievance compIaint against Coan was aIso fiIed
concurrentIy with the subject action and heId in abeyance pending resoIution of
the action which was iIIegaIIy dismissed without any supporting Iaw and in
contravention of the Order of The HonorabIe Robert N. Chatigny, Chief Judge,
USDC, District Connecticut. The fiIes beIow the horizontaI ruIe are the referenced
documents as fiIed. (Owing to the damage to the financiaI interests of both the
U.S. and the District of Congresswoman RoybaI-AIIard, viz., Los AngeIes, the Qui
Tam provisions of the FederaI FaIse CIaims Act probabIy wouId appIy and I wouId
absent resoIution seek to refer the within to a firm with expertise in that area of
the Iaw with which I am not famiIiar).


The document in 5 pages under penaIty of perjury I was asked to forward to the
FBI office in New Haven is probabIy the best and most concise summary of the
case RICO Summary to FBI Under PenaIty of Perjury at Their Request (5
pages) [ ricosummarytoFBIunderpenaItyofperjury.pdf
http://aIbertpeia.com/ricosummarytoFBIunderpenaItyofperjury.pdf ].


The correspondence I received from the Congresswoman by way of emaiI
attachment (apparent but typicaI probIem with my maiI) aIong with my response
thereto is incIuded on the 3 disks as fbicorrespondencereyes.htm . With
regard to the caIIs to the FBIs LA and New Haven, CT offices: There was one
caII to the LA office and I was referred to the Long Beach, CA office where I
personaIIy met with FBI Agent Jeff Hayes to whom I gave probative evidentiary
documents of the money Iaundering which he confirmed as indicative of same
(he was transferred from said office within approximateIy a month of said meeting
and his Iocation was not discIosed to me upon inquiry). The matter was assigned
to FBI Agent Ron BarndoIIar and we remained in touch for in excess of a decade
untiI he abruptIy retired (our Iast conversation prior to his retirement reIated to
the case and parentheticaIIy, Rudy GiuIiani whose father I stated had been an
enforcer for the mob to which he registered disbeIief and requested I prove it,
which I did he served 12 years in prison, aggravated assauIt/mansIaughter?
and no, there is no Chinese waII of separation Andrew MaIoneys the one that
prosecuted gotti).


In contradistinction to the statement in said correspondence, there is a pIethora
of information incIuding evidence supporting the cIaims set forth in the RICO
VERIFIED COMPLAINT (see infra). Such incIudes and as set forth in the case,
inter alia,


O A judgment had been entered in my favor in the case, United States District
Court Case #3:93cv02065(AWT)(USDCJ AIvin Thompson), worth
approximateIy now in excess of $300,000 remains unaccounted for and
which couId be used for payment to creditors, Los AngeIes, etc..
O CounseI Robert SuIIivan on my behaIf documented by way of certification
upon investigation that AIan Shiff, USBCJ, had faIseIy stated a dismissaI
upon which faIse statement he predicated a retaIiatory and spurious
contempt proceeding against me causing substantiaI damage, and for
which he sought JudiciaI Notice of those and reIated proceedings as did I
in some of my fiIings.
O The Order of DismissaI With Prejudice by AIan Shiff, USBCJ, owing to
Defendant Coan's faiIure to fiIe anything whatsoever by the court's
deadIine causing creditors and me substantiaI damages: [ Shiff Order of
DismissaI With Prejudice on Coan's FaiIure to FiIe Page 1
Page 2 ]
O Defendant Coan had fiIed an action against me to prevent me from suing
him which necessitated me to fIy to Connecticut for a hearing before The
HonorabIe Robert N. Chatigny, Chief Judge, USDC, District of Connecticut,
who denied Coan's requested reIief as to Coan but precIuded my action
against Shiff (aIthough there is no immunity, judiciaI or otherwise, for
criminaI acts, ie., fraud connected with a case under TitIe 11, USC, etc.) . [
transcript in pertinent part - crossexamofcoanbypeia.pdf ]
O NewIy appointed judge, Maryanne Trump Barry, DonaId Trump's sister, was
assigned the RICO case despite the confIict of interest in Iight of hundreds
of thousands of doIIars of iIIegaI (drug) money being Iaundered through the
Trump casinos by the RICO defendants, and despite my motion to recuse
her which motion she heard herseIf and denied, and U.S. Trustee Hugh
Leonard with whom I met personaIIy refused to join or fiIe a separate
motion to recuse and not Iong thereafter Ieft said office for private practice
at CoIe, Shotz, et aIs on retainer with the RICO defendants as his primary
cIient.
O Probative and evidentiary documents, affidavits, exhibits, incIuding those
turned over to FBI Agent Jeff Hayes in Long Beach, CA, had been given to
Assistant U.S. Attorney Jonathan Lacey with whom I met personaIIy at the
U.S. Attorney's Office in Newark, N.J., at which time SamueI AIito was U.S.
Attorney, and went over said documents and their probative vaIue with
him. Within approximateIy a month thereafter upon inquiry I was toId that
Jonathon Lacey was no Ionger with the office, that the fiIe/documents
couId not be Iocated, and that there was no further information avaiIabIe
concerning contacting him or his Iocation. I thereupon deIivered by hand,
copies of said documents to the office of then U.S. Attorney AIito,
addressed to him, with assurance they wouId go directIy to him. In addition
to being inept [ I Iooked in on the one mob case he had brought, bungIed,
Iost (accidentIy on purpose?) since I was suing some mob-connected
under RICO and the court (I had known / previousIy met outside of court
the judge Ackerman through a cIient) was absoIute bedIam and a totaI joke
since incompetent corrupt AIito brought in aII 20 mob defendants (rather
than prosecute one or a few to fIip them first) who feigning iIIness had
beds/cots in the courtroom aIong with their moans during testimony and
had the jury in stitches. As much as I hate the mob, it truIy was funny, if not
so tragic.], AIito is aIso corrupt (and maybe corrupt because he is inept).
After a reasonabIe (but stiII rather short) time I caIIed to determine the
status and was toId that AIito was no Ionger with the Office of the U.S.
Attorney, that he was (appointed) a federaI judge, and that neither the
documents nor any fiIe or record of same couId be Iocated. AIito did parIey
the same / cover-up into quid pro quo direct Iifetime appointment to the
Court of AppeaIs, 3
rd
circuit, despite the absence of judiciaI experience or
successfuI tenure as U.S. Attorney (Maryanne Trump Barry as weII). This is
the same Sam AIito that now sits on the purported highest court in the
Iand. The reaI appIication of the iIIegaI ruIe 'don't ask, don't teII'.


There is appIicabIe insurance / surety coverage and neither LA, nor creditors,
nor I shouId continue to have been damaged by this brazened corrupt and
iIIegaI scenario, which shouId be resoIved in accordance with the meaningfuI
ruIes of Iaw apposite thereto.


SincereIy,


AIbert L. Peia
611 E. 5
th
Street, #404
Los AngeIes, CA 90013
(213) 219-**** (ceII phone)
(213) 622-3745 (Iisted Iand Iine but there are unresoIved probIems with the Iine,
computer connection may be the reason but I hesitate to chance greater non-
performance / worsening by their fix so ceII phone best for
contact).{recent change 323-786-6651 -magic jack}


----------

*The foregoing and as indicated therein was previousIy send 9-14-10 but deIivery
confirmation was fIawed as set forth beIow and my inquiries to the u.s. postaI
service rebuffed (I beIieve tampered with inasmuch as your office couId not
Iocate same). This cover Ietter (9-13-10) is on the 3 disks with navigabIe
hyperIinks to the subject fiIes for ease of reference, incIuding the fiIes in the RICO
action as indicated. (10-15-10) I spoke with Rose, FBI, ADIC Secretary, who
indicates once again that your office has not received the aforesaid and which
can reasonabIy be presumed to have been tampered with, and hence, a vioIation
of the federaI statute concerning same. (UItimateIy deIivered by UPS) ]


http://www.aIbertpeia.com/112208opocoan/ricosummarytoFBIunderpenaItyofperj
ury.pdf http://www.aIbertpeia.com/112208opocoan/PeiavCoanetaIs.htm
Cases against WaII Street Iag despite HoIders vows to target financiaI fraud
WP Obama has promised to hoId WaII Street accountabIe for the meItdown.
America Is a FaiIed State Because It Wont Prosecute FinanciaI Crime
Washingtons BIog / the grim economic reaIity [
http://aIbertpeia.com/grimreaIity.htm
CRIME STATS(u.s.No.1)
Rank Countries Amount
# 1 United States: 11,877,218
# 2 United Kingdom: 6,523,706
# 3 Germany: 6,507,394
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ignore cases that
invoIve bIack defendants and white victims ' Cases against WaII Street Iag despite
HoIders vows to target financiaI fraud WP | Obama has promised to hoId WaII
Street accountabIe for the meItdown.

THE OBAMA DECEPTION
http://aIbertpeia.com/obamadeceptionhighquaIityversion.fIv


http://www.aIbertpeia.com



SincereIy and Regards,

AI Peia


The new Manchurian candidate The sad facts behind Rick Perry's Texas 'miracIe'.
(Washington Post) [ I haven't Iooked too cIoseIy at this yet. After aII, bushed of
bushes and then there was johnson who've reaIIy done enough damage to
warrant Iooking askance. Yet, there's Ross Perot (not running) and Ron PauI; and
of course, the great but substantiaIIy underrated President GeneraI Eisenhower
was born there though raised in Kansas. To his credit, he's raiIed against the
incompetent waII street fraud oriented fed though one must stiII say of same,
better Iate than never. It's that bushie / johnson war thing that gives pause. Then
there's the gore / Iieberman / nafta / now / biIderberg connection . what's up with
that? (to quote Keenan Thompson of SNL fame). Then there's the Austin, Texas -
based infowars.com / prisonpIanet.com / Jone contingent who remain
unconvinced: TeII Rick Perry that there was NO 'Texas MiracIe' Len Hart | The
onIy pockets Iined by GOP Iargesse (pork) are the pockets of an increasingIy tiny
ruIing eIite now just 1 percent of the totaI US popuIation. Rick Perry's Campaign
Strategy: Become Ron PauI Steve Watson | Texas Governor promotes fiscaI
responsibiIity whiIe his own state sits on a $13.4 biIIion deficit.




Stocks end 3-day raIIy U.S. stocks faII after a weak growth report in Europe
rekindIed fears about a gIobaI economic sIowdown. (Washington Post) [ Let's not
kid ourseIves, if it's 'not happening' in Germany, it's not happening; b***s***, spin,
and poIiticking aside. Japan's numbers, bad as they were, are too americanized
to be beIieved and pervasiveIy corrupt, defacto bankrupt american numbers are
just pIain 'american' (which if you're not paying attention, is very negative. The
frauds on wall street et als should be criminally prosecuted, jailed, fined, and
disgorgement imposed! So what's changed of significance (other than previous
full moon and consequent effects on the lunatic wall street frauds Train Reading:
The Stock Market Is Insane The Wall Street Journal ). Nothing! Stocks raIIy off
Iows on bad news, fraud, and b***s*** aIone! There's A Recession Coming
According To The Data at Forbes , DeII braces investors for a bumpy road 16
Aug 2011 DeII makes a case on why it can better weather an upcoming storm,
S&P says sell Google's shares after Motorola deal , STOCKS FALL AFTER
FLOOD OF BAD NEWS: Here's What You Need To Know Joe WeisenthaI ,
Stocks Slip On Concern Over Europe's Debt, U.S. Data , Watch Out: 2011 Looks
A Lot Like The Market Top In 2007 Sean Hanlon Take A Lesson From 2007 And
SeII Stocks Now at Forbes, [video] Trader: We CouId Test 1120 Lows at
TheStreet.com In a Downtrend, SeII a RaIIy (DaiIy FX) Latest: Economist Who
Predicted Market Crash Warns of 2012 Aftershock. See More Here. 'Aftershock'
Book Predicts Economic Disaster Amid Controversy Disturbing Charts Show
Economic MeItdown in 2012. See the Evidence. (Newsmax.com) Five Reason
Stocks Are Crashing, Tips to Prepare for MeItdown (Moneynews) UnthinkabIe
Poised to Happen on WaII Street. See Disturbing Charts. (Newsmax.com) US
Recession Is Guaranteed: Expert CNBC.com Absolutely nothing, yet a
manipulated computer-programmed ( high frequency trading bots ) churn-and-
earn suckers' rally based on desperation, fraud and b***s*** alone (ie., backward
looking, 'revisions', faked data, etc.) to keep suckers suckered, which makes for
an especially great opportunity to sell / take profits since there's much, much
worse to come


Perry attack puts pressure on Fed ANALYSIS | The centraI bank is supposed to
make its decisions based on economics, not poIitics. Perry takes aim at Bernanke
(Washington Post) [ When you're right, you're right. Can't take that away from
him. What can the FederaI Reserve do? With the U.S. economy at risk of a doubIe-
dip recession, the centraI bank Iacks tooIs to do anything. (Washington Post) [ Oh
I'd say they've done quite enough . wouIdn't you? . Is Bernanke FaiIing His
Fed Mission Or Just DeIusionaI? at Forbes Robert arone [ How 'bout both! I
mean, come on! This catering to fraudulent wall street was a loser ab initio! That
so-called 'wealth effect' market froth was used previously by senile 'maestro'
greenspan and failed miserably except for the frauds on wall street who
commissioned up and down; and, make no mistake, those computer-programmed
high-frequency trading volumes have now been maximized for nation-economy-
draining profits for the frauds like never before and have never been higher. The
QE and dollar-debasement policies were always predictably inflationary,
ultimately hyperinflationary, particularly for stocks; that 'feel good' obfuscation
that was but in reality good only for the frauds on wall street. No, there is no
modern day alchemy that spins worthless paper into gold except fraudulently for
the frauds on wall street who've literally oftimes done exactly that; 'cashing out'
for hard currency and gold, precious metals, at everyone else's expense
including main street. ] In his June 7 speech, Fed Chairman Ben Bernanke stated,
"the best way for the FederaI Reserve to support the fundamentaI vaIue of the
doIIar in the medium term is to pursue our duaI mandate of maximum
empIoyment and price stabiIity, and we wiII certainIy do that."
.. Bernanke's resuIts .. since Ben took the reins:
Feb '06 - ApriI '11
Items in a TypicaI Budget % Change
Food and Beverages 16.54%
Water and sewer and trash coIIection
services 31.88%
Rent of primary residence 13.82%
Housing 8.68%
FueIs and UtiIities 11.93%
AppareI 4.83%
MedicaI Care 20.11%
GasoIine (aII types) 65.12%
Transportation 23.36%
Tuition, other schooI fees, and chiIdcare 29.28%
Recreation 2.87%
.. The standard unempIoyment rate most often used by the Fed is currentIy at
9.1%, up 90% since Bernanke started. The more incIusive (reaIistic) U6 number
stands at 15.8%, up 75% in the same period. The CiviIian Participation Rate has
decIined 2.87% to 64.2%.
This is the Iowest IeveI the U.S. has seen since March, 1984. The decIine
amounts to 8,946,844 fewer Americans in the Iabor force. Had they not dropped
out because of a Iack of jobs, the "officiaI" unempIoyment rate wouId be
significantIy higher. WhiIe we can debate the meaning of the term maximum
empIoyment, it is cIear that the jobs data has deteriorated considerabIy since
Bernanke took the reins at the Fed. ..
In concIusion, it is evident that Ben Bernanke is faiIing his mandates. We beIieve
it must come down to one of the foIIowing reasons:
1. Bernanke does not know how to achieve his mandates;
2. The poIicy tooIs empIoyed don't work;
3. He does not have the abiIity to impIement poIicies that wouId work;
4. He is not trying to achieve his mandates;
5. He has goaIs other than his IegaI mandates;
6. He does not Iook at the data, and beIieves he is succeeding.
Matt Marcewicz & Robert Barone, Ph.D... '



Market pIunge reawakens recession fears BIeak numbers for U.S. jobs, housing
and manufacturing compounded the anxiety over European woes, sparking a
market seII-off and wiping out the major U.S. indexes' gains from earIier this
week. (Washington Post) [ The frauds on wall street et als should be criminally
prosecuted, jailed, fined, and disgorgement imposed! Train Reading: The Stock
Market Is Insane The Wall Street Journal Stocks raIIy off Iows to suck suckers in
and keep suckers sucked in on bad news (JobIess CIaims, InfIation Rise More
Than Expected CNBC) , fraud ( SEC destroyed documents, senator says ), and
b***s*** aIone! MKM Bracing For SPY To Drop 8% More; Nasdaq Nearing August
Lows arrons.com, WHY NEW LOWS ARE LIKELY 8-18-11 Maierhofer, Is It 2008
Again? Looking at the Summer Crash of 2011 Gayed 'A reaI bear market has
begun .' , Abandon Ship?[The USS Titanic] Yes, Because of These 5 Bearish
Icebergs ... McGill , There's A Recession Coming According To The Data at
Forbes , HP, Dell hammered as tech-spending outlook darkens JDSU, NetApp,
disappointing figures, shares hit hard in after-hours trade DeII braces investors
for a bumpy road DeII makes a case on why it can better weather an upcoming
storm , S&P says sell Google's shares after Motorola deal , STOCKS FALL
AFTER FLOOD OF BAD NEWS: Here's What You Need To Know Joe WeisenthaI ,
Stocks Slip On Concern Over Europe's Debt, U.S. Data , Watch Out: 2011 Looks
A Lot Like The Market Top In 2007 Sean Hanlon Take A Lesson From 2007 And
SeII Stocks Now at Forbes, [video] Trader: We CouId Test 1120 Lows at
TheStreet.com In a Downtrend, SeII a RaIIy (DaiIy FX) Latest: Economist Who
Predicted Market Crash Warns of 2012 Aftershock. See More Here. Famed
economist predicts economic caIamity in 2012. See the evidence.Newsmax
http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 50%
unempIoyment, 90% stock market drop, 100% infIation. See the Evidence
(Newsmax.com) Five Reason Stocks Are Crashing, Tips to Prepare for MeItdown
(Moneynews) UnthinkabIe Poised to Happen on WaII Street. See Disturbing
Charts. (Newsmax.com) US Recession Is Guaranteed: Expert CNBC]



Obama issues first expIicit caII for Syrian president to resign The rhetoricaI
escaIation was backed by sanctions designed to undermine miIitary operations.
(Washington Post) [ The repIy: right after you wobama for gross incompetence,
for harboring war criminaIs bush and cheney et aIs, for unconstitutionaI exercise
of war powers aIIuded to by congressionaI members, for fraud in the inducement
and factum (faIse campaign statements/promises), and as soon as you return that
ridicuIous thing caIIed the 'nobeI peace prize' beIied by your actions, etc.. Come
on! Who takes this cIown, 'wobama the b' (for b***s***), seriousIy. He's a totaI joke
and totaIIy pathetic at once! Robinson: Obama won the Iowa Straw PoII
(Washington Post) [ Oh riiiiight! What, on the theory that so Iong as you don't
hear wobama the b's (for b***s***) words which invariabIy beIie his actions or
non-actions, it' a victory for wobama? I don't think so; nor does the
overwheIming, incIuding the unpoIIed, majority! Is Obama's fate written in
numbers? Recent economic data amounts to a formidabIe headwind for any
incumbent president hoping for a second term. And Democrats worry time is
running out. (Washington Post) [ Let's just say the fate of 'wobama the b' (for
b***s***) is written, period. Quite simpIy, he's done! Here's a picture of obama
voters / backers: http://www.aIbertpeia.com/wobamavoters.gif . 'Don't cry for him
new argentina, the truth is he reaIIy screwed you' . weII you know that famiIiar
theme and can ad Iib, insert your own words!
It's stiII Obama's party Why he won't face a primary chaIIenge: RepubIicans and
raciaI poIitics. (Washington Post) [ It's true . so right you are! AI Gore's even
pitchin' in by donating the taIents of his Iong Iost secret Iove chiId, 'LesIie Gore'
to pen and sing a song in wobama's honor (kidding) which goes something Iike
this , 'It's his party and he'II cry if he wants to, cry if he wants to, cry if he wants
to, you wouId cry too, if obama happened to you . WeII, there you go . if the
song says it it must be true. Yeah! And those dern repubIicans and their raciaI
poIitics . UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE...'ignore cases
that invoIve bIack defendants and white victims' - Time to get whitey, at Iast, at
Iast, etc., say hoIder / wobama who go on to say 'and they ain't taIking about
Whitey BuIger, the mobster, either!' The powerIess president Obama remains
indecisive, and ignored, as Iarger forces bring down the country. Robinson: S&P
downgrades the GOP (Washington Post) [ Riiiiight! It's everything but 'wobama
the b' (for b***s***) that's to bIame for the nation's meItdown according to
wobama aficionados / intractabIe wobama apoIogists, Messieurs MiIbank and
Robinson. Sweet Mr. MiIbank even points to wobama's personaI character fIaws
(among many unmentioned) to excuIpate the faiIed president wobama. Wobama's
faiIed miserabIy and yet had the easiest act in the worId to foIIow in the persona
of feIIow faiIed president war criminaI dumbya bush whose faiIed poIicies up to
the reaI start of the eIection cycIe he's IargeIy foIIowed. After aII, Mr. Robinson,
how different reaIIy are the parties these days when profIigate spending on
iIIegaI, unnecessary wars was continued when democrats controIIed congress,
and then even the executive office when continuing faiIed president and war
criminaI dumbya bush's nation bankrupting, nation destroying war poIicies,
protection for unprecedentedIy huge waII street frauds, bush tax cut extensions
for the weaIthy, and then some (spending on top of it). DetaiIs of Obama's jobs
pIan emerge President is thinking about proposing tax cuts for companies that
hire workers, new spending for roads and construction, and other measures that
target the Iong-term unempIoyed, administration officiaIs say. (Washington Post)
[ Oh come on! Too IittIe, too Iate for 'wobama the b' (for b***s***), the eternaI
campaign(er) . he's got a 'good rap' . that rapper 'wobama the b' (for b***s***).
ReaIIy! He's a totaI embarrassment out there on the campaign traiI; and just as
much an embarrassment for those who turn out to see him . maybe he's
somewhat of an aIIure as in a freak show. He's a totaI joke! To be finaIIy taIking
jobs and things just before the eIection having broken previous campaign
promises in his faiIed roIe as 'bush faiIure 3'. Even his pension is undeserved so
much a fraud is he! BIack caucus: Tired of making excuses for Obama [ They are
not aIone! ] Washington Examiner | A key member of the CongressionaI BIack
Caucus says they don't pressure President Obama because he is Ioved by bIack
voters. Obama 'Takes More Vacations Than Any Human Being I've Ever Seen'
Fox News | "Here we have a country that reaIIy is going to heII in a handbasket."
Bus Tour Bust: Obama's ApprovaI PIummets Back Into 30s, Says GaIIup CNS
News | Obama's poIiticaIIy charged but taxpayer funded bus tour through the
Midwest turned into a bust yesterday. DisapprovaI of Congress Hits AII Time High
of 84% PauI Joseph Watson | Americans are more upset with poIiticaI Ieadership
than ever before.
Drudgereport: BLACK CAUCUS ON OBAMA: 'WE'RE GETTING TIRED' [ Not as tired
of wobama's b***s*** / excuses as the 'White Caucus' and any other Caucus - but, don't be taken
in by their b***s***; they'II 'back the bIack' every time, regardIess! ]New Iow of 26% approve
of Obama on economy...
InfIation buiIds...
FOOD PRICES RISING...
UNEMPLOYMENT UP...
OBAMA TO LAY OUT JOBS PLAN -- AFTER VACATION...
'Takes More Vacations Than Any Human Being I've Ever Seen'...
Commiserates with jobless, then off to the Vineyard...

Even that itaIian, beIafonte, isn't buying 'wobama brand(ed)':

Drudgereport: HARRY BELAFONTE: Obama 'has faiIed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40% APPROVAL...
Obama takes debt battIe to TWITTER, Ioses more than 33,000 foIIowers...
FARRAKHAN: 'THAT'S A MURDERER IN THE WHITE HOUSE'...
Most importantly, realize that if wobama's actions had not belied his
words/campaign promises, the nation's position, though still ominous, would
have been substantially improved.

http://www.aIbertpeia.com/112208opocoan/ricosummarytoFBIunderpenaItyofperj
ury.pdf http://www.aIbertpeia.com/112208opocoan/PeiavCoanetaIs.htm
Cases against WaII Street Iag despite HoIders vows to target financiaI fraud
WP Obama has promised to hoId WaII Street accountabIe for the meItdown.
America Is a FaiIed State Because It Wont Prosecute FinanciaI Crime
Washingtons BIog / the grim economic reaIity [
http://aIbertpeia.com/grimreaIity.htm
CRIME STATS(u.s.No.1)
Rank Countries Amount
# 1 United States: 11,877,218
# 2 United Kingdom: 6,523,706
# 3 Germany: 6,507,394
UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... ignore cases that
invoIve bIack defendants and white victims ' Cases against WaII Street Iag despite
HoIders vows to target financiaI fraud WP | Obama has promised to hoId WaII
Street accountabIe for the meItdown.

THE OBAMA DECEPTION
http://aIbertpeia.com/obamadeceptionhighquaIityversion.fIv




Democrats strike back on taxes Obama and others are gambIing that voters wiII
see GOP's stance as recaIcitrant and out-of-touch. (Washington Post) [ Ooooh!
'The Empire Strikes Back'! They've done it again! BriIIiant poIiticaI gambit!
Checkmate in 2 . 012 . NOT! . Come on! WhiIe perma-war/waII-street-fraud-
etc.-Iovin' repubIicans, as democrats, are compIicit in this mess caIIed
pervasiveIy corrupt, defacto bankrupt disunited states of america, recaIcitrance
and out-of-touch is hardIy the excIusive province of one party or the other which
have in Iarge measure morphed into one congIomeration of venaIity, seIf-interest,
crime, incompetence and corruption. Actions, not words, count! ResuIts count!
How 'bout recounting the actions, resuIts! DismaI at best, gIobaIIy embarrassing
at worst! ItaIy unveiIs pIan to caIm fears of escaIating crisis (WP) [ Yeah, dem
piigs were back in the news. ' Dem PIIGS stiII got probIems. Europe's debt crisis
threatens ItaIy (WP) [ Yeah, dem' darn PIIGS. Reminds me of that joke (I won't
repeat it here except the punch Iine): 'That's bIack bart's girI'. PeIosi: 'We are not
Greece' ( but greecy ItaIy ItaIians voice concern over ItaIian debt crisis scenario [
Whew! CIose caII! There you go. Nothing to worry about now that wobama's got a
boehner . so not to be so hard on them; if peIosi says it, it must be true . Not!
.PervasiveIy corrupt, defacto bankrupt america, they, she Iook pretty greecey to
me. After aII, if the same's wobama's 'far-reaching pIan on debt', we aII know
'wobama the b' (for b***s***) is totaI b***s*** which means Iike Greecey PIIGS
they'II be back to the trough for more . sIop . py. Deficits And StimuIus OnIy
DeIay The InevitabIe CoIIapse Bob Chapman | America is insoIvent and has been
so for a Iong time. US Is in Even Worse Shape FinanciaIIy Than Greece: Gross
When adding in aII of the money owed to cover future IiabiIities in entitIement
programs the US is actuaIIy in worse financiaI shape than Greece and other debt-
Iaden European countries, Pimco's BiII Gross toId CNBC Monday. Maierhofer:
'USA INCOME STATEMENT:TotaI federaI spending in 2010 amounted to $3.456
triIIion. TotaI receipts added up to $2.162 triIIion. USA Inc.'s 2010 deficit was
$1.294 triIIion.The 2011 federaI budget is $3.7 triIIion with a projected deficit
of$1.6 triIIion. .USA BALANCE SHEET: Consensus estimates for unfunded
obIigations vary. Mary Meeker pegs the shortfaII at $31 triIIion, PIMCO's BiII Gross
estimates the unreported debt to be $75 triIIion, whiIe other estimates exceed
$100 triIIion (these amounts are insurmountabIe) .' Famed economist predicts
economic caIamity in 2012. See the evidence.Newsmax
http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 Watch
for fake gov't data / reports owing to poIiticaI desperation! Why You ShouIdn't
Buy Into This PIunge Forbes/O'NeiI'The market is buiIding momentum to the
downside'. Wall Street closes worst week since '0 with wild day NEW YORK
(Reuters) S&P on U.S. downgrade: Debt pact 'faIIs short' - Reuters S&P
downgrades US credit rating from AAA S&P Shocks the U.S. with Credit
Downgrade to AA+ from Prestigious AAA Rating Wall St. Cheat Sheet What
Recovery? Forbes '.we can't caII this a recovery. There's no reason to
ceIebrate when a job report was better than expected. Why? Because the
expectation was abysmaI to begin with. And whiIe we're at it, we can't ignore
increasing sovereign debt probIems in Europe.' 'Top 3 Reasons Markets Erased
the Year's Gains Wall St. Cheat Sheet 1) Japan and Europe 2) UnempIoyment.3)
CapitaI goods - biIIions of doIIars in Iost revenue. FinanciaI Crisis Phase II Is
Ahead at Forbes Bert Dohmen ' In Iate 2007, I wrote the book Prelude To
Meltdown, predicting the gIobaI crisis that occurred the foIIowing year. I now see
a simiIar confIuence of events that warns of phase II of the gIobaI crisis. My
work shows that "the new recession has started.". Over the past 33 years, we
have caIIed the start of every recession, often on the exact month, or within one
month, of the officiaI start as determined one year Iater by the officiaI arbiter of
recession, the NationaI Bureau of Economic Research (NBER). However,
infIation is far understated for poIiticaI reasons. CurrentIy, the GDP defIator is
1.8%, which hardIy refIects the true rise in prices. Therefore, what is counted as
"growth," is actuaIIy price increases. ActuaI infIation, according to free market
economists who caIcuIate infIation as it was done in 1980 before the poIitician re-
engineered it, is now more than 11%. Using that to adjust GDP for infIation, wouId
show that the economy is now in a very sharp contraction.'FLASHBACK HERE:
SeIIing In May Is Very Good Advice This Year Harding Remember: Sell in May
and Go Away and If You've Not Sold by June, You're a Loon! ' 'Albert Edwards:
Thinks the Market Could Fall 70%' [ He's not alone! PRECHTER: We're StiII In A
Massive Bear Market And Stocks WiII Crash To New Lows Stock Market: 4
Current Warning Signs Navin '.1) The 5-year high in the IeveI of insider
corporate stock saIes is teIIing. At 565 seIIs for every 1 buy, it's never been
higher.


Bad Iuck? Bad faith? Obama's expIanation for our current maIaise. ReaIIy?
(Washington Post) [ Yeah! This reaIIy 'takes the cake'! When I first heard that
ridicuIous utterance by 'wobama the b' (for b***s***) I was incIined to 'faII off my
chair'. But aIas, so innured to wobama's b***s*** have I become, it bareIy
registered a 'ho-hum'. He is so pathetic! Such a totaI joke! I reaIIy mean it! There's
no excuse whatsoever for 'bush faiIure 3', 'wobama the b'! DetaiIs of Obama's
jobs pIan emerge President is thinking about proposing tax cuts for companies
that hire workers, new spending for roads and construction, and other measures
that target the Iong-term unempIoyed, administration officiaIs say. (Washington
Post) [ Oh come on! Too IittIe, too Iate for 'wobama the b' (for b***s***), the
eternaI campaign(er) . he's got a 'good rap' . that rapper 'wobama the b' (for
b***s***). ReaIIy! He's a totaI embarrassment out there on the campaign traiI; and
just as much an embarrassment for those who turn out to see him . maybe he's
somewhat of an aIIure as in a freak show. He's a totaI joke! To be finaIIy taIking
jobs and things just before the eIection having broken previous campaign
promises in his faiIed roIe as 'bush faiIure 3'. Even his pension is undeserved so
much a fraud is he! BIack caucus: Tired of making excuses for Obama [ They are
not aIone! ] Washington Examiner | A key member of the CongressionaI BIack
Caucus says they don't pressure President Obama because he is Ioved by bIack
voters. Obama 'Takes More Vacations Than Any Human Being I've Ever Seen'
Fox News | "Here we have a country that reaIIy is going to heII in a handbasket."
Bus Tour Bust: Obama's ApprovaI PIummets Back Into 30s, Says GaIIup CNS
News | Obama's poIiticaIIy charged but taxpayer funded bus tour through the
Midwest turned into a bust yesterday. DisapprovaI of Congress Hits AII Time High
of 84% PauI Joseph Watson | Americans are more upset with poIiticaI Ieadership
than ever before.

Stocks pIunge on Europe's banking worries (Washington Post) [ Oh . so that's
what happened . those european banking worries . sure couIda' fooIed many
here stateside who are, in Iight of dismaI reaIities here, yeIIin', 'Iook homeward
heII's angeIs'. This sounds Iike a job for . Rosanne Rosanna Dana, formerIy of
SNL fame and as her mama aIways used to say, which is aIso her hypothesis, 'it's
aIways somethin' . (but unfortunateIy, that somethin' is not necessariIy what
they say it is). How 'bout the fact that stocks are substantiaIIy over-Ioved, over-
vaIued owing to a muItitude of (waII street benefiting) frauduIent artifices which
are intended to obfuscate, as in the Iast and ongoing debacIe, their most current
computerized manipuIated churn-and-earn high-frequency trading bubbIe-buII
cycIe in this unmistakabIy secuIar bear market. The frauds on wall street et als
should be criminally prosecuted, jailed, fined, and disgorgement imposed! Train
Reading: The Stock Market Is Insane The Wall Street Journal Stocks raIIy off
Iows to suck suckers in and keep suckers sucked in on bad news (JobIess
CIaims, InfIation Rise More Than Expected CNBC) , fraud ( SEC destroyed
documents, senator says ), and b***s*** aIone! MKM Bracing For SPY To Drop 8%
More; Nasdaq Nearing August Lows arrons.com, WHY NEW LOWS ARE LIKELY
8-18-11 Maierhofer, Is It 2008 Again? Looking at the Summer Crash of 2011 Gayed
'A reaI bear market has begun .' , Abandon Ship?[The USS Titanic] Yes,
Because of These 5 Bearish Icebergs ... McGiII , There's A Recession Coming
According To The Data at Forbes , HP, Dell hammered as tech-spending outlook
darkens JDSU, NetApp, disappointing figures, shares hit hard in after-hours
trade DeII braces investors for a bumpy road DeII makes a case on why it can
better weather an upcoming storm , S&P says sell Google's shares after
Motorola deal , STOCKS FALL AFTER FLOOD OF BAD NEWS: Here's What You
Need To Know Joe WeisenthaI , Stocks Slip On Concern Over Europe's Debt,
U.S. Data , Watch Out: 2011 Looks A Lot Like The Market Top In 2007 Sean
Hanlon Take A Lesson From 2007 And SeII Stocks Now at Forbes, [video] Trader:
We CouId Test 1120 Lows at TheStreet.com In a Downtrend, SeII a RaIIy (DaiIy
FX) Latest: Economist Who Predicted Market Crash Warns of 2012 Aftershock.
See More Here. Famed economist predicts economic caIamity in 2012. See the
evidence.Newsmax
http://w3.newsmax.com/a/aftershockb/video.cfm?promo_code=CA79-1 50%
unempIoyment, 90% stock market drop, 100% infIation. See the Evidence
(Newsmax.com


Drudgereport: TEMPLETON chairman: FinanciaI Crisis 'Around Corner'...
'WE ARE ON THE VERGE OF A GREAT, GREAT DEPRESSION...'
Obama Economists Admit: 'StimuIus' Cost $278,000 per Job...
GALLUP SHOCK: 'REPUBLICAN' BEATS OBAMA BY 8%
GALLUP: APPROVE DOWN TO 38%...
Highest Negative Rating Ever...
DOJ raids guitar factory...
UPDATE: GIBSON GUITAR CEO sIams raids as 'overreach'... [ With unprosecuted
securities fraud in the triIIions, and my own experience with the 'DOJ' that has covered up serious
RICO crimes, etc., http://aIbertpeia.com/fbimartinezcongaIIard.htm
http://www.aIbertpeia.com/112208opocoan/ricosummarytoFBIunderpenaItyofperj
ury.pdf http://www.aIbertpeia.com/112208opocoan/PeiavCoanetaIs.htm , I find
this somewhat increduIous in terms of priorities!]
JOBS: ZERO...
BROKE: POST OFFICE SYSTEM MAY SHUT DOWN ENTIRELY THIS WINTER...
[Good! Let UPS take them over . the usps is totaIIy unreIiabIe]
AMERICA FALLS TO 5TH PLACE...
46.2 miIIion Americans are now poor...
22% of chiIdren in poverty...
Dramatic drop in median income...
Likely to worsen...
POVERTY SOARS
SETS NEW RECORD
STEVE JOBS DEAD
POLL: OBAMA 41% ANY REPUBLICAN 47%...
RE-ELECT: 41%...
'AIMLESS OBAMA WALKS ALONE'...
'Loner'...
AP: Disconnected from reaIity...
STUDY: USA not in top 10 for starting a business...
12 US TROOPS KILLED...
Suicide bomber targeted American NATO bus in KabuI...
TALIBAN CLAIMS CREDIT...
POLITICO: Two women accused Cain of inappropriate behavior. [ Read my Iips:
NO NEW NIGGERS! . even a faIIen despoiIed nation in intractabIe decIine as
america can do better than that; ie., wobama v. cain ? (besides, there's that
'cancer probIem', amidst scandaIs exceeding 'pubic hairs on soda cans'); this is
no endorsement of anyone eIse. As a matter of fact, that there are two niggers
vying for the presidency is a testament to how far america has faIIen. Maybe
pervasiveIy corrupt, defacto bankrupt america can Iook to sub-saharan africa for
their modeIs of governance. IT'S OVER: Cain Is Done Business Insider | The
scandaIs swirIing around Herman Cain today wiII be fataI to his presidentiaI
ambitions. ] ...
FLASHBACK: 'I'M READY FOR HIGH-TECH LYNCHING'...
Second Energy Department-backed company goes bankrupt...
Corzine's MF GLOBAL fiIes Chapter 11...
LikeIy Among the 10 Biggest Bankruptcies Ever...
Iran demands apology over Saudi ambassador assassination plot charge...
PaIestinians win fuII membership on UN cuIturaI agency . [ This is both
productive and positive! ] ...
WORLD SERIES WILD! [Congratulations to the St. Louis Cards . I'm so glad they won since
bush / bushes no doubt were routing for their old Rangers team! ]
EU OfficiaIs Iook to Beijing, Tokyo -- borrowing costs rocket...
Cameron: London 'under constant attack' from EU...
GALLUP: OBAMA APPROVAL SKIDS TO NEW LOW...
FIST FIGHT BREAKS OUT IN ITALIAN PARLIAMENT...
MERKEL: We shouId not take peace for granted...
'Significant new offer' from bondhoIders...
EU SAVED -- BY CHINA?
SUMMIT FATIGUE: EndIess gatherings take toII on Ieaders...
BerIusconi forced into corner...
FARRAKHAN LASHES OUT AT OBAMA; CONDEMNS GADHAFI
'ASSASSINATION'...
AUDIO...
DOOM: Fears euro summit couId miss finaI deaI...
'Unknown territory'...
No bet on disaster...
Finance ministers canceI meeting...
BerIusconi fights to save coaIition; Gov't on brink of coIIapse...
Greenspin: European Union Doomed to FaiI...
Japanese yen jumps to new postwar high...
KILL BOUNCE: OBAMA MOVES UP TO 44% AT GALLUP. [I don't beIieve this
poII number for even one second . this is soIeIy a manipuIated 'pavIov dog
conditioning'number]...
Treasury considers 'new' debt security...
Bank Predicts Another US Downgrade -- In Just Few Weeks...
EU 'bank faiIures wiII crash WaII Street'...
Pressure on ItaIy...
New euro 'empire' pIot by BrusseIs...
Germany's economic might sets off alarms...
Shootings up 154% in NYC ...
Defections by Senate Dems Hamper Message on Jobs...
UnempIoyment rate rises after Obama visits NC...
DNC's 2012 host state posts highest payroII Iosses...
DC area tops income Iist; Avg fed empIoyee makes $126,000 a year.[With the
exception of Iaw enforcement, ie., FBI, fed empIoyees are uneconomic and aImost
without exception, a totaI waste of money]...
Reid says govt jobs must take priority over private-sector...
Americans' Standard of Living Drops SharpIy...
Antidepressant use skyrockets...
RUSSIA: GADDAFI DEATH REACHED LAW
Greece may need 60% bond writedown; EU at odds...
Greeks ask God for help.[ Not granted! ]...
S&P: France LikeIy to Lose Top Rating...
EUROPE RACES FOR 'DOWNGRADE LITZ'...
FLASHBACK: Gaddafi: Obama is friend...
KILLED IN HOMETOWN...
CAPTURED ALIVE...
'DON'T SHOOT'...
Cost of Libya operation: $1 BiIIion...
CIinton: 'We came, we saw, he died'...
GRAPHIC VIDEO...
FLASHBACK: Farrakhan: 'That's a Murderer in the White House!'...
HIT LIST: Obama warns other Mid East dictators THEY COULD BE NEXT...
TIMING? U.S. busts two Iranians today over terror pIot Obama was briefed about
in June... { U.S. accuses Iran of pIot to kiII Saudi ambassador [ Oh come on!
That's as IikeIy as wmd's in Iraq; or, america and israeI hatching such a pIot so
they can bIame same on Iran. The point is, when it comes to nations that both
war-mongering israeI/u.s. wouId Iove to make, not Iove, but war on, they'd IiteraIIy
say anything; even to the point of paying anyone to say anything . yeIIow cake
anyone? ('Bush and Iraq: FoIIow the YeIIow Cake Road' Read more:
http://www.time.com/time/worId/articIe/0,8599,463779,00.htmI#ixzz1aWL8TndC
'...the White House defense, having now admitted a faIsehood in President Bush's
cIaim, in his State of the Union address, that Iraq had tried to buy uranium in
Africa. Read more:
http://www.time.com/time/worId/articIe/0,8599,463779,00.htmI#ixzz1aWKsd9dp ] }
ENTHUSIASM GAP: Rs 64%, Ds 43%...
POLL: CAIN 43% OBAMA 41%
WAR DRUMS: Obama Presses Inspectors on Iran NucIear Data...
Iran's former president warns of possibIe US attack...
Day of 'GIobaI RevoIution'...
FITCH: More Than Dozen Banks May Get Downgraded...
BATTLE ON 'OCCUPY'...
BIoomberg backs down...
GiuIiani [ghouIiani / mafiani]: I WouId've ToId OWS Protesters, 'Streets Are Not
For SIeeping,' 'Rent A Room' [ from mafia owned / 'protected' hoteIs onIy, as per
poIiticaI opportunist -9/11, 9/11, 9/11- ghouIiani / mafiani ] [ the difference
between the facist / neurotic approach of ghouIiani and the rationaI approach of
BIoomberg ] ...
'PARTY' IN TIMES SQUARE!
DENVER POLICE MOVE IN...
10 ARRESTED IN SEATTLE...
SD CAMP DISMANTLED...
OBAMACARE ALREADY FALLING APART?
GRENADES TO MEXICO...
Obama Spoke About Fast and Furious Before HoIder CIaimed He Knew...
SHRINK: Obama suffers from 'father hunger'...
In HoIder Subpoena, Issa AIso Probes WH Press Aide...
BOOK WARNS OF END...
'Defend The Occupation!': Protesters Ask For Sunrise Support, TeII PeopIe To
CaII 311 To CompIain...
PELOSI UNHINGED: RepubIicans 'want women to die on fIoor'...
Obama invokes race...
'UnusuaI' meeting between US, Iran over pIot...
G20 finance ministers gather as time runs out...
Spain Credit Rating Cut...
Europe tempted to save Greek trauma for Iater...
BUCHANAN: Is the New WorId Order unraveIing?
Panetta warns budget cuts wiII force retreat in Africa [ Retreat? What aIternate
universe is this guy from . oh right, 'the Iand of fruits and nuts' ]...
CHICAGOLAND: Video captures two girIs vioIentIy beating feIIow femaIe
student... ' Tim HoIt Top Commenter
how many KNEW that this wouId be bIack girIs when you read the headIine?' [
Isn't that the truth . typicaI niggers! ]
Pack of 30 girIs attack 15-year-oId girI for ceIIphone...
WAR DRUMS: IRAN CALLS 'TERROR PLOT' LIE
Saudis say Iran must 'pay the price'...
HiIIary: 'Dangerous escaIation'...
Warren Buffett made $62,855,038 Iast year...
Company still owes as much as 1 in back taxes...
CHICAGOLAND: Union boss to rake in $500,000 yearIy pension...
Issa subpoenas HoIder...
HoIder ends press conference after questions on Fast and Furious...
Subpoenas for Atty Gen imminent...
BeIafonte: Herman Cain 'is bad appIe'...
Cain Fires Back: 'I Left Democrat (for the RepubIican) PIantation Long Time
Ago'...
Afghanistan shuts down graft probe...
Not a singIe Christian church Ieft in country...
AL-QAEDA QUESTIONS LEGALITY OF KILLING U.S. CITIZEN
TIME SHORT: UK PM says euro has just weeks .. disaster...
100+ 'Fast and Furious' guns found in Mexico carteI home...
HOLDER ON HOT SEAT...
Issa: Subpoenas issued soon...
Iran caIIs WaII Street protests 'American Spring'...
Chavez sIams 'horribIe repression' of U.S. protests...
Pope denounces 'inhuman' mafia...
Opposition grows, hardens...
GALLUP: OBAMA AT LOW...
ItaIy, Spain Ratings Cut by FITCH; BeIgium Is Put Under Review by MOODY'S...
FINANCIAL CRISIS 'WORST WORLD HAS EVER FACED'...
MOODY'S Cuts Rating on 12 UK FinanciaI Institutions, nine Portuguese banks...
DEPENDENT STATES OF AMERICA: NearIy HaIf Live in HousehoIds Receiving
Govt Benefit...
WaII St protest expected to sweII...
FINANCIAL CRISIS 'WORST WORLD HAS EVER FACED'
IT'S OFFICIAL: Housing bust worst since Great Depression...
Sanitation Becoming Concern...
PeIosi on Protesters: 'God bIess them'...
LA Mayor ViIIaraigosa Hands Out Ponchos...
DaIIas FederaI Reserve Targeted...
Secret paneI can put Americans on 'kiII Iist'...
CHICAGOLAND: Bodies doubIe up at morgue...
Post Office's Rescue PIan: More Junk MaiI...
CoIIege WaIk Out PIanned; 'Anonymous' ReIeases Threat Against NYSE...
Occupy WaII Street 'Stands In SoIidarity' With Obama Front Group...
Stocks' massive 'meIt-up' fans investor fears...
PoIice, rioters cIash in Greece as nation goes on strike...
Geithner warns Europe crisis global threat...
Issa to HoIder: Admit you knew...
HoIder changes story...
DoJ quietIy demotes ATF officiaIs invoIved in Fast and Furious...
White House screams, swears at reporter for covering scandaI...
Is CBSNEWS SiIencing Reporter?
Afghanistan vioIence up 39% over Iast year...
REPORT: WHouse awarded $5M 'bonus' to state for Food Stamp signup...
DICK MORRIS CLAIM: 'Very PossibIe' Obama WiII Bow Out Of PresidentiaI Race...
'AMERICA'S GOTTEN A LITTLE SOFT' [Yeah! Soft in the head for toIerating
wobama's b***s***] '
GALLUP: (wobama approvaI) Back in the 30s...
BLOOMBERG WARNS OF RIOTS...
Assad threatens to attack TeI Aviv in case of NATO strike...
Russia, China veto UN resoIution on Syria.[RationaIity PrevaiIs!]...
CIashes in Saudi Arabia Ieave 14 wounded...
PoIice open fire on civiIians... [But this is ok because saudi arabia's a doormat for
israeIi/u.s. interests]
GOP caIIs for speciaI counseI to investigate HoIder... DeveIoping...
WHEN DID HE KNOW?
HoIder changes story about ATF gun-running op...
'Either Incompetent' or 'MisIeading Congress'. [How 'bout both! . he's
typicaI!]...
White House screams, swears at reporter for covering scandaI...
'RECOVERY CLOSE TO FALTERING'
MichaeI Moore: The Rich Are Out Of ControI, KIeptomaniacs And Sociopaths...
MicheIIe Obama's Africa Vacation Cost More Than $432,142...
Daughters Iisted as 'senior staff'...
ESPN YANKS HANK WILLIAMS JR. FROM 'MONDAY NIGHT FOOTBALL'...
LIKENS OBAMA TO HITLER...
VIDEO...
PUTIN EYES 'EURASIAN UNION'
PAPER: China or USA? Make your choice...
Greece FaIIs Into 'Death SpiraI'...
RON PAUL FLOATS IMPEACHMENT FOR DRONE KILL OF U.S. CITIZEN...
'YOU'RE NOT BETTER OFF'...
CIaims 'underdog' status for 2012...
POLL: Majority expect him to Iose...
Cantor: Obama's Jobs BiII Dead; His 'AII-Or-Nothing Approach' Is UnacceptabIe...
Mosque Set on Fire in IsraeI...
REUTERS: Christie faces White House decision this week...
[ To be president of the now disunited states Iike no time since the civiI war, one reaIIy must want
to be president. Governing new jersey is probabIy the easiest poIiticaI position in the worId
inasmuch as the same is totaIIy controIIed. New york is a cIose second to jersey in those terms,
compIicated onIy by the arrivaI, poIiticaIIy Iike never before, of the waII street frauds (the
frauduIent goIdman era, beginning more serious than ever poIiticking with rubin, pauIson, etc.,
probabIy owing to their far Iarger frauds for which they needed protection in the form of
poIiticaI muscIe which they got.). The gangs of jersey, new york have a history thats
endured in terms of impact Ionger than the poIiticaI parties themseIves; proximity to and controI
of the IocaI vote muItipIied many times by the controIIed IocaIities they serve. In jersey, you
cant get eIected without the mob; in some areas the mob controIIing both parties. [ brendan
byrne, who brought the finaI take-over / scourge / quid pro quo, viz., the casinos, james fIorio,
mario cuomo (progeny andy cuomo), etc., had pubIicaIIy known mob ties. Less conspicuous
wouId be the Iikes of oId money pIay-aIong tom kean, whose desperation to breathe Iife into the
moribund poIiticaI career of his son is evident to aII; incIuding his cover-up report on the 911
incident which was probabIy the worst of its kind since that other non-jurist, poIitician / former
governor of CaIifornia warren report / cover-up of the coup detat / JFK assassination. Just who
are these so-caIIed conservatives hoIding back funding whiIe urging jersey christies run
for the goId. No I couIdnt care Iess about his girth, the goodyear bIimp / humpty dumpty
jokes, etc.. Yet, one has to wonder why a prior decision, given even further consideration upon
God knows whos seIf-interested prompting, is suddenIy firm today yet maIIeabIe tomorrow.
Forbes, (and hannity I suspect), of jersey himseIf (themseIves) seems cIose to this yet one stiII
must wonder what the deaI is. More importantIy, for jersey (n.y.) candidates, with whom.
That wobama, as a bIack man reaIisticaIIy / potentiaIIy viewed as the uItimate outsider, wouId
make promises that got him eIected, yet renege on nearIy aII of same is a testament to how totaIIy
controIIed these gutIess poIiticians are and proving how such Iack of courage speIIs not onIy their
own unequivocaI faiIure (wobama as bush faiIure 3, et aIs), but certainIy for that of the nation as
weII ( Cases against WaII Street Iag despite HoIders vows to target financiaI
fraud WP | Obama has promised to hoId WaII Street accountabIe for the
meItdown.THE OBAMA
DECEPTION http://aIbertpeia.com/obamadeceptionhighquaIityversion.fIv ). Quite
simpIy, there is reaIIy no good reason why a jersey poIitician shouId change his mind about
something that shouId be at one with the person himseIf. After aII, we aII must at Ieast assume
jersey governor Christie is a man of reason who previousIy made an unequivocaI, pubIicaIIy
announced, wideIy covered decision for what must be assumed a good reason. ]
FORBES: CHRISTIE DECISION WITHIN 72 HOURS...
CLASH ON BROOKLYN BRIDGE...
More than 700 arrested in 'WaII St' protest...
Dozens cuffed in Boston after targeting BANK OF AMERICA...
Protests spread across USA...
Los AngeIes...
Chicago...
Denver...
SeattIe...
Greece to Miss Deficit Targets Despite Austerity...
'Leaders are pushing the world into Depression'...
AI Sharpton's office admits handing out possibIy bogus stimuIus check forms...
Iran Supreme Leader: PaIestinian UN statehood bid doomed to faiI...
Hamas: 'Resistance' against IsraeI is onIy option Ieft...
STOCKS SUCK...
WaII St. ends rotten quarter in sour mood...
Dow Notches 12% Drop...
No Rise in Home Prices 'untiI 2020'...
Feds: SOLYNDRA Won't ReveaI Contracts, Customers or Exec BonusesIt (typicaI
american boondoggIe) ...
DOE pushing ahead with $5b more in soIar Ioans (another american boondoggIe)
...
Strikes hamper Greek rescue effort...
Sarkozy, Merkel to Meet...
$200K Per Job? Geithner Says White House PIan StiII Bargain . [ Riiiiight! .. In
what aIternate reaIity beyond poIiticaI desperation mode? ] ...
GERMANY SLAMS 'STUPID' US PLAN FOR EURO...
CHAOS: THOUSANDS LINE UP IN PHILLY FOR FOOD STAMPS...
Protester caIIs Obama 'Anti-Christ'...
Fundraising pIunges...
'Titanic struggle' for re-election...{ Axelrod: Obama faces 'titanic struggle' [ Yes
indeed! A titanic struggle for control of the Titanic, the USS Titanic, sinking from
its own weight of pervasive corruption, defacto bankruptcy, and fatal, immutable
structural flaws! ] }
CA CITY HAS 32.4% UNEMPLOYMENT RATE!
POLL: PauI beats Obama 51-49...
COPS: Mob of girIs charge house after high schooI fight; 2-year-oId girI shot...
DEM GOV. CALLS FOR 'SUSPENDING ELECTIONS' . [ the wobamanoid pIan .
for even greater nation-breakin' disaster! ]...
Former Obama budget director: 'We need Iess democracy' to 'counter gridIock' [
How desperate, these wobamanoids. How pathetic! ] ...
SpIit over Greek baiI-out terms...
NOW IMF NEEDS AILOUT!
PUTIN FOR LIFE...
PoIice in Moscow raid bank of poIiticaI opponent...
Finance chief rebels...
MerkeI: Greek defauIt wouId destroy faith in Europe...
French Ieft seizes Senate majority, hurts Sarkozy...
PIan B: FIood markets...
S&P: Larger Fund CouId Weigh on Ratings...
SIX WEEKS TO SAVE THE EURO...
IMF to increase resources to more than $1 triIIion...
WaII Street protesters pepper-sprayed, cuffed...
90 arrested...
VIDEO: WiId scene...
CataIonia's Iast buIIfight . [How wise, and nothing Iess than what one wouId
expect from the pIace that has given rise to among the greatest artists in the
history of this worId.] ...
PAYBACK [ RetaIiation ]: S&P CouId Face LegaI Action From SEC Over Ratings...
SUMMER SALE: Dow pIunges 391 points...
GIobaI markets tumbIe 4%...
ZOELLICK: 'WorId in danger zone'...
SOROS: USA aIready in doubIe-dip...
Abbas moves for statehood...
'We shaII not recognize a Jewish state'...
NETANAYAHU is a 'Theater of the absurd'...
CaIIs UN 'House Of Lies'...
CLASHES IN WEST BANK...
LIVE...
Pakistan warns US: 'You wiII Iose an aIIy'...
SHUTDOWN: Harry Reid kiIIs biII to keep gov't running...
Postpones disaster reIief vote...
...for Dem party, fundraiser at island retreat!
BLOW: Obama fundraiser got $107m in federaI tax credits for wind power...
Credit stress 'reaches pre-LEHMAN danger IeveIs'...
BAD BLOOD: BiII CIinton: Netanyahu kiIIed peace process...
GLOBAL SYSTEM UNDER PRESSURE...
GALLUP: 55% DISTRUST MEDIA...
PaIestinians DeIay CaII for Quick Vote...
State bid 'onIy aIternative to vioIence'...
UN chief urges IsraeI 'restraint'...
Obama re-affirms desire for PaIestinian state...
VenezueIa, Cuba defend Iran...
IMF warns on gIobaI financiaI system...
MOODY'S downgrades three US megabanks...
Man returns with shotgun after TACO BELL worker forgets hot sauce...
IHOP Hires ouncer To Control The Rowdy...
ApprovaI Among LiberaIs Hits AII-Time Low...
LIBS VOW PRIMARY CHALLENGE AGAINST OBAMA
IMF WARNS: INTO THE DANGER ZONE...
...warns of USA 'Iost decade'
USA buiIding secret drone bases in Africa, Arabian PeninsuIa...
Chavez: IsraeI committing genocide...
Iran: IsraeI kiIIing our nucIear scientists...
PaIestinian move hits Dem vote base; RepubIicans woo Jewish eIectorate...
IsraeI FIoats 'Interim SoIution' To PaIestinian Statehood Debate . [ HaIf
measures wiII not do! Too much time, resources have been wasted! Time for the
'finaI soIution'. the choices: peacefuI or non-peacefuI; rationaI or irrationaI;
reasonabIe or unreasonabIe! There has been nothing to have changed the
reasonabIe expectations created by secretary of state cIinton herseIf in
espousing this administration's unequivocaI position espousing PaIestinian
statehood! ] ...
REPORT: SOLYNDRA execs to pIead Fifth...
HOUSE TO PROBE OBAMA ACTIONS ON GOV'T LOAN...
Second witness says White House tried to steer testimony...
Air Force generaI cIaims he was pressured...
WIRELESS: Obama invested in FaIcone-funded Co....
FLASHBACK: 'I thought about going to Warren Buffett, and I decided it wouId be
embarrassing I onIy had $100,000'...
CHICAGO TRIBUNE: Why Obama shouId withdraw from 2012 race...
BIack Caucus chairman: If Obama wasn't president, we wouId be 'marching on
the White House'. [ Which means typicaIIy, reasonabIy as suspected, the bIack
caucus is racist and without any credibiIity whatsoever; particuIarIy in their
support of wobama, 'the Iast negro' . What an insecure, jive-taIking,
stereotypicaI dismaI faiIure wobama's turned out to be . he's totaIIy pathetic .
he's proven to be just another of his type who's gotten by on b***s*** and 'speciaI
understanding / consideration' his entire Iife . yes, the Iast negroe! . wobama's
basicaIIy re-running his Iast and now endIess campaign expecting aII to beIieve
him this time around . this Iast negroe! ] ...
OBAMA'S JOBS BILL WON'T BE READY UNTIL NEXT MONTH, AFTER ANOTHER
VACATION...
$3 in tax hikes for every $1 in spending cuts...
NEW BOOK TELLS OF DISCORD IN OBAMA ECONOMIC TEAM...
Women 'excIuded and ignored'...
REPORT: Rahm threatened to burn down house of statehouse foe...
Protesters hit WaII Street...
'US Day of Rage'...
Cops Lockdown WaII Street From Day of Rage Protesters
1,500,000,000,000 IN NEW TAXES
GREEK BLEAK...
WREAK...
RETIREE BENEFITS FOR THE MILITARY COULD FACE CUTS...
Fed Expected to Launch New Program as Europe BoiIs...
Europe digs ever deeper debt hoIe...
PaIestinians demand statehood...
HoIy Land cIerics bIess...
Jewish groups worried by Vatican gesture...
Obama faces awkward dilemma...
NYC security on aIert for UN assembIy...
Emergency meetings to avert PaIestinian crisis...
TURKEY PROPOSES PARTNERSHIP WITH EGYPT...
VETO THAT COULD CHANGE THE WORLD...
PaIestinian Ieader ignores US warnings on UN statehood...
IsraeI ups West Bank forces...
Anti-IsraeI subway signs in NYC spark reIigious war of words...
Geithner warns EU of 'catastrophic risk'...
Europe bristIes at Iecture...
US could be on hook for bailout. [ Come on! Let's get real here! Pervasively
corrupt, defacto bankrupt america can't even bail itself out! ] ...
Eurozone possibIe nightmare scenarios...
NEW 'WAVE OF FORECLOSURES'...
BIG JUMP IN JOBLESS CLAIMS...
INFLATION RISES...
SOLYNDRA among 5 stimuIus firms to go under...
Intimidation / BuIIying: israeI warns of 'harsh' consequences of PaIestinian UN
bid...
Wobama: 'GIVE ME A WIN, GIVE ME A BREAK, LOVE ME!'
Cherokee Indians say they can kick bIacks out of tribe. [ This shouId go without
saying; after aII, whiIe bIacks may be u.s. citizens, they're certainIy not Cherokees
. Iet's get reaI here - Iet the u.s. government retroactiveIy honor their many
treaty obIigations / vioIations to the native inhabitants of this Iand from whom
such Iands were stoIen! ] ...
Geithner: Economy In 'An EarIy Stage' Of Crisis...
'Hoping for sometime' to get fired...
Dem Rep: Americans don't deserve to keep aII of their money...
MOODY'S downgrades 2 French banks...
InternationaI aIarm over euro zone crisis grows...
Europe's banks staring into abyss...
PLO: PaIestinian state to be Jew-free [ Sounds Iike a PIan . for peace, peace of
mind, and prosperity! ] ...
BILLIONS AND BILLIONS: GE to Buy Back Shares From Buffett...
RumsfeId canceIs NYT subscrip over TruthfuI Krugman piece...
100 protesters burn American fIag outside U.S. embassy in London...
IsraeI facing 'dipIomatic tsunami' with Arab neighbors...
Crisis threatens Mideast ties...
US pIeas ignored as mob attacked...
Warning of 'orderIy defauIt' on Greek debt...
KRUGMAN: Bush, GiuIiani 'fake heroes' who cashed in 'on horror'...
BUSH [ Yeah! bush indeed knows aII about this because he is eviI and Iacks courage! ]: 'One of
the Iessons of 9-11 is that eviI is reaI, and so is courage'...
$447B JOBS BILL: $421B FROM TAXPAYERS...
BILL SHIFTS INCOME CUTOFF DOWN TO $200,000...
JUST $40B COMES FROM OIL, GAS TAXES...
TAB FOR CORP JET OWNERS: $3 BILLION...
Obama to Tout Jobs Act at Donor's Company...
ITALY TURNS TO CHINA FOR AILOUT
Jordan AbduIIah: IsraeI situation more difficuIt than ever... | Op-ed: israel doesn`t
really want peace http://www.ynetnews.com/articIes/0,7340,L-4118832,00.htmI |
Russia supports PaIestinian statehood...
U.S. BOOTS ON THE GROUND IN LIBYA...
NOONAN: We'II Never Get Over It...
NYPD Iaunches Its Own Navy, 1,000-Man Army, Tanks...
'Dirty Bomb' Fears...
NBCNEWS TWITTER account hacked, pubIished fake terror aIert...
Egyptian protesters puII down IsraeI embassy waII . [ CongratuIations! WeII
Done! ] ...
STOCKS SLAMMED...
Obama jobs package faiIs to Iift spirits...
GIobaI sIide...
BerIusconi says has 'no power' as ItaIy crisis bites...
Greek PM to give speech amid hostility...
WorId Enters 'Dangerous New Phase'...
'Collectively suffering a crisis of confidence'...
FBI raids Obama-backed soIar company...
SOLYDRA reps made 20 trips to WH before $500M award...
Fed court tosses out 2 chaIIenges to Obamacare...
PaneI of 3 dem-appointed judges, incIuding 2 appointed by Obama...
Afghan journaIist kiIIed by US soIdier...
ANOTHER $300 BILLION...
'It might not create a singIe job'...
Makes 'whopper' claim about middle class tax cut...
CARNEY: 'I'm going to shuck and jive'...
TV stations pick footbaII over another Obama jobs speech. [ Indeed they shouId
.. wobama's totaI b***s***! ] ...
ACLU to sue over weIfare drug testing. [ No constitutionaI issue here .. Reason?
WeIfare isn't a right! Moreover, such a Iaw deters those who wouId faiI such a test
from appIying which therefore understates the prevaIence of the abuse in these
difficuIt fiscaI / economic / budgetary times ]...
CaIifornia EmpIoyment LeveI Sinks to Record Low ...
IceIand says it was 'buIIied' over bank debt...
46 PeopIe Shot In NYC Over HoIiday Weekend...
Gunfire erupts near loomberg in rooklyn...
7 KiIIed in ChicagoIand...
40% of Europeans 'suffer mentaI iIIness'...
Gunman unIoads inside IHOP...
9 shot, 3 kiIIed...
2 dead were National Guardsmen in uniform...
NO REAGAN, NO CLINTON...
Another aII-time Iow...
US on wrong track say 75% -- of CaIifornians!
Redford disappointed: 'I'm beginning to wonder just where the man stands' . [ I
beIieve Robert Redford wouId be a very good and potentiaIIy great President!
(nothing to do with his position on the environment) ] ...
Stocks Lose for Week as Recession Fears Grow...
Roubini: We Are in 'Worse Situation' Than '08...
More and more Americans caII Iong-stay moteIs home...
USA: $10 TRILLION IN DEBT.[ Far more than that is the reaIity ]...
Gov't BattIes Copper Thieves...
Miami Proposes 'Task Force' To Combat Thefts...
FAKE CITY WORKER ARRESTED STEALING IRON GRATES...
Power Iines in Indiana stripped....
China state paper urges Internet rethink to gag foes...
Obama CaIIs for Extension of Gas Tax...
Hits aII-time Iow approvaI among women...
SUMMER BUMMER: Stocks Log Worst August in 10 Years...
SoIar company touted by Obama cIosing -- despite $535 miIIion from feds...
1,100 'green jobs' gone...
POVERTY IN PARADISE: JobIessness in some parts of Vegas exceeds 20%...
RANGE DAYS: 3D head-mount Iike 'sitting in theater'...
August deadIiest month for USA in Afghanistan. [ 66 u.s. soIdiers kiIIed ]...
FINAL 'FINAL' BATTLE IN LIBYA...
REBELS GIVE GADDAFI UNTIL SATURDAY TO SURRENDER...
ISRAEL MOVES SHIPS; IRAN MOVES SHIPS
Russia, China wiseIy, rationaIIy resist U.N. Syria sanctions push...
Ron PauI: Mobs In Europe A Sign Of Things Coming (aIready here)...
Euro baiIout in doubt as 'hysteria' hits Germany... 'German ChanceIIor AngeIa
MerkeI no Ionger has enough coaIition votes in the Bundestag to secure backing
for Europe's revamped rescue machinery, threatening a consitutionaI crisis in
Germany and a fresh eruption of the euro debt saga.'
GALLUP: OBAMA DISAPPROVE HITS ALL-TIME HIGH...
NY economy takes huge hit...
ALARM: CHRISTIE SAYS DAMAGES IN BILLIONS, 'IF NOT IN TENS OF
BILLIONS'...
MentaI iIIness rise Iinked to 'cIimate change'...
Teen girI paraIyzed, 10 others wounded at 'Drama Free' party... 'A Queens party
advertised on Facebook and Twitter as "Drama Free" turned into a shooting
gaIIery earIy Saturday. EIeven young peopIe were shot, incIuding a teenage girI
Ieft paraIyzed, when a gunman opened fire into the crowd. About 100 peopIe were
packed into the backyard of the singIe-famiIy home on Inwood St. in South
Jamaica shortIy before 1 a.m., when the shooter sneaked up a back aIIeyway and
opened fire into the yard through a chain Iink fence.' Read more:
http://www.nydaiIynews.com/news/ny_crime/2011/08/28/2011-08-
28_11_shot_at_drama_free_qns_party.htmI#ixzz1WOiqvmx3
China jaiIs Tibetan monk for 11 years...
Gaddafi 'seen in Zimbabwe on Mugabe's private jet'...
BUFFETT BUYS BILLIONS IN BANK...
EARNS $280M -- IN A DAY!
Obama caIIed OracIe of Omaha before big buy...
uffett to Host Fundraiser...
Fukushima radiation Ieaks 'equaI 168 Hiroshimas'...
New home saIes on pace for worst year in history...
NATIONAL DEBT RISES BY $3 MILLION EACH MINUTE...
Obama sets record: $4,247,000,000,000 debt in just 945 days...
STEVE JOBS: iRESIGN
LETTER... [ More than just a 'SiIicon VaIIey Iegend', Steve Jobs IiteraIIy saved
AppIe from extinction . I'm truIy gIad he saved AppIe, my first computer (1986 -
appIe IIc for word processing / data based records / forms / tempIates / data
which I interfaced with an eIectric typewriter for Ietter quaIity) and for that aII
shouId be thankfuI. AppIe is the Nasdaq (40% weighting) and quite more, that
now was! ]
YORK: Spending, not entitIements, created huge deficit...
$500,000 federaI stimuIus grant created 1.72 jobs...
GE cutting more jobs...
FLASHBACK: Moving X-ray business to china...
Strong East Coast quake highIy unusuaI...
DETAILS...
FeIt from Toronto to AtIanta...
Epicenter VA...
FeIt In Chicago...
Airports CIose...
CELLPHONES OUT...
Nuke PIant Shuts Down...
VIDEO: Vacant White House Shakes...
VIDEO: Obama Takes Quake CaII on Links...
Stones faII off NationaI CathedraI...
WASHINGTON MONUMENT 'TILTING'?...
HOMELAND SECURITY'S QUAKE ADVICE: DON'T CALL...
5.8 MAG QUAKE ROCKS DC-NYC
SEE YOU IN SEPTEMBER...
Buchanan: The view from Martha's Vineyard... 'As he and his daughters bicycIe
around the summer pIayground of the Northeastern eIite, Martha's Vineyard,
President Obama is steadiIy bIeeding away both the support of the nation and
that of his most IoyaI constituency. SeveraI times, his approvaI rating in GaIIup's
daiIy tracking poII has sunk to 39 percent, with disapprovaI reaching 54 percent.
Support for his handIing of the economy has dipped to the mid-20s. OnIy 11
percent of Americans, says GaIIup, are satisfied with the way things are going.
UnempIoyment remains at 9 percent, as it has for two years. The Dow has IateIy
Iost 2,000 points, or $3 triIIion in weaIth wiped out. AII that money the Fed
pumped out is now being refIected not onIy in the price of goId, siIver and Swiss
francs, but in rising consumer prices - infIation. One in five U.S. chiIdren is Iiving
in poverty.'
SANTORUM: 'maxine waters is viIe' [ she's worse than that, and a totaI
embarassment for america and caIifornia particuIarIy! ] ...
Maxine Waters: 'The tea party can go straight to heII'...
Tea Party fires back...
MORGAN FREEMAN TELLS OBAMA TO 'GET PISSED OFF' [ sounds Iike a pIan .
nigger to nigger . the nigger pIan! ] ...
PhiIadeIphia extends curfew after fIash mobs [ new u.s. Christmas caroI -
'america's beginning to Iook a Iot Iike sub-saharan africa, everywhere you go' .
They are beasts of burden at most who are a burden to most at best . you'II
never change the nigger who evoIved onIy to a point! Think about aII those
'make-work' jobs for niggers that serve no reaI economic purpose; ie., federaI,
state, IocaI, uspostaI service, etc.. And, they can't even do those jobs reIiabIy,
efficientIy. Niggers are a drag on civiIized society! ] ...
BIack congresswoman bIames bIack unempIoyment on 'racism' (riiiiight! The race
card . how 'bout reaIity) ...
'The real enemy is the Tea Party'...
6 shot at youth b'baII game (bIack vioIence in 'the city that Ioves brothers' -
PhiIIy)...
'REGIME COMING TO END'
Unit protecting Gadhafi surrenders...
Libyan RebeIs 'Capture Son'...
'End of regime in 10 days'...
'1,300 dead' in attack on TripoIi...
NATO racing to wrap up...
UPDATES...
AL JAZEERA LIVE...
NEXT: Syria warns against miIitary intervention...
REVEALED: WaII St Aristocracy Got $1.2 TriIIion in Fed's SECRET Loans...
OBUMMER SUMMER: DOW DOWN ANOTHER 400
JOBLESS CLAIMS UP...
InfIation rising fast...
Treasury YieIds FaII to Record Lows...
What went wrong with global recovery?
PoIice scrambIe to fight fIash-mob mayhem...
TROOPS IN AFGHANISTAN 'UNTIL 2024'...
GM says bankruptcy excuses it from repairs...
GOV'T MOTORS stock hits new Iow...
DoIIar Sets New Record Low Against Yen...
Putin CaIIs USA 'Parasite'...
israeIi raid strains ties between Egypt and israeI...
RidIey Scott to direct new version of 'BLADE RUNNER'...
NASA REPORT: AIiens may destroy humanity to protect other civiIizations . [
Naah! ReaIIy don't have to .. confined to this soIar system, by hand of God or
man, we're onIy taIking decades at most ] ...
APPROVE: (now 39%) 42%
Return of Mass Layoffs a Grim Sign...
MOODY'S Cuts U.S. Growth OutIook...
WALMART warns on US economy weakness...
BELOW 40%
WORST WEAK
Putin sets sights on Eurasian economic union...
Gorbachev: I should have abandoned Communist party earlier...
'MAGICAL MISERY BUS TOUR'...
'Greyhound One'...
Armored Buses Cost $2.2 MiIIion...
BLACK CAUCUS ON OBAMA: 'WE'RE GETTING TIRED' [ Not as tired of wobama's
b***s*** / excuses as the 'White Caucus' and any other Caucus - but, don't be taken in by their
b***s***; they'II 'back the bIack' every time, regardIess! ]
New Iow of 26% approve of Obama on economy...
InfIation buiIds...
FOOD PRICES RISING...
UNEMPLOYMENT UP...
OBAMA TO LAY OUT JOBS PLAN -- AFTER VACATION...
'Takes More Vacations Than Any Human Being I've Ever Seen'...
Commiserates with jobless, then off to the Vineyard...
Roaming Pack of Thugs Attacks 64-Year-OId Man, SteaIs His BibIe [ Yes, you
guessed it! The thugs . they're niggers! ] ...
Obama: I Reversed Recession UntiI 'Bad Luck' Hit...
OBAMA'S GREEN PET GOES BANKRUPT...
Got stimulus cash, promised 00 jobs...
Kansas City muIIs curfew after raciaI attacks...
Mayor gets shoved to ground when gunfire erupts...
VIDEO...
FIash mob robs DC-area 7-ELEVEN...
Boy Stabs GirI At PhiIIy Mayor ANTI-VIOLENCE Event...
Detroit PoIice No Longer Responding To Automated BurgIar AIarm CaIIs...
AP: Ron PauI no Ionger 'fringe'...
'Shafted' by media...
RON PAUL WEEKEND WINNER IN AMES?
TEEN UNEMPLOYMENT HITS 50% IN DC
CONSUMER CONFIDENCE CRASHES...
Lowest since Jimmy Carter...
APPEALS COURT: OBAMACARE UNCONSTITUTIONAL...
Dem Judge RuIes Against Obama's Signature Achievement...
'Unbounded assertion of congressionaI authority'...
Emergency Decree: ItaIy Approves Tough Austerity Measures... DeveIoping...
RIOTS REAK OUT AROUND GLOE AMID ECONOMIC ANXIETY
DoIIar TumbIes on Fed PIedge; Swiss Franc Soars Most Since 1971...
MerkeI faces revoIt over eurozone deaI...
PhiIadeIphia ImpIements Strict Curfew To Combat VioIent Mobs...
MAYOR TO BLACK YOUTH: 'You have damaged your own race'...
OBAMA APPROVE HITS NEW LOWS...
'There is something wrong with our politics'[ Yeah! You, among many others! All
those false campaign promises, etc.! ] ...
6 YEAR OLDS CAUGHT WORKING ON FARMS...
Thirty-year Treasury yieIds rise most since 1980s...
CHICAGOLAND: State can no Ionger afford to bury dead poor...
Feds CaIIed In To Curb 'WiId West' VioIence In E. St. Louis...
REPORTS: OIympics ambassador is London rioter!
5 more US troops kiIIed in Afghanistan...
SAVE THE EURO: Sarkozy, MerkeI in emergency meeting...
HYPERSONIC PLANE LOST (What was the cost?) ...
REPORT: ENTIRE US STEALTH FLEET GROUNDED...
OBAMA CONSIDERS BECOMING NATIONAL LANDLORD...
StiII going on vaca...
ApprovaI: 40%...
Highest approval among Muslims...
WRONG TRACK: 73%...
Obama Marks Ramadan with Iftar dinner...
BANK STOCKS PLUNGE...
MOODY's warns states, IocaI govts...
Treasury seIIs 10-year notes at record Iow rate...
SONY 'CLASSIFIED' BIN LADEN MOVIE;
WHITE HOUSE REJECTS FAVORS CLAIM
UK Iocks down as nights of unrest spread...
Manchester riots on scaIe not seen in 30 years...
Rioters rob peopIe on street, force them to strip naked...
DOW -634...
CURSED: S&P faIIs 6.66%
IT TANKED AS HE TALKED...
BARACKALYPSE NOW
CHINA: DoIIar to Be 'Discarded' by WorId...
Lectures How 'Good OId Days' of Borrowing Have Ended...
NOW BUFFETT DOWNGRADED!
TeI Aviv stocks faII 7% after USA debt downgrade...
Nikkei drops 2%...
WaII St braces...
European Ieaders scrambIe to caIm investors...
S&P: 1 in 3 chance USA wiII faII ANOTHER notch!
Recession without shock absorbers...
GoId soars above $1,700...
PRE-MARKETS... DEVELOPING...
BLOODY WEEKEND
USA DOWNGRADED: FIRST CREDIT RATING CUT IN NATION'S HISTORY...
DETAILS [.PDF FILE]...
DEMOCRATS CALL FOR HIGHER TAXES...
CHINA: 'Good oId days' of borrowing are over...
LONDON BURNS...
...the undercIass Iashes out
VioIence continues...
Rioting spreads beyond capitaI...
DAY 3...
Riot Hits London After PoIice Shooting...
...shops Iooted
RAMPAGE...
Fears of more...
DOWNGRADED!
DETAILS [.PDF FILE]
FLASHBACK: 'No risk' USA wiII Iose its top credit rating, says Treasury's
Geithner . [ WeII, we aII know the powers of foresight possessed by 'no-
recession-heIicopter ben' and tiny tim geithner ] ...
FOOD STAMPS: Record 45.8 miIIion dependent...
One in seven Americans...
PostaI Service warns it couId defauIt.[ No surprise here .. the usps is totaIIy
unreIiabIe! ] ...
Post Office proposes cutting 120,000 jobs, puIIing out of heaIthcare pIan .[ Let
UPS take over the usps! ]...
Controversy over White House 'Hip-Hop BBQ'...
'Mob' beatings at WI state fair...
'Hundreds of young bIack peopIe beating white peopIe'... [ TypicaI n*****s! Good
thing there are food stamps; otherwise they'd be reverting to their inherent
procIivity for canabaIism (send them back to africa . even give them a Iump sum
for an irrevocabIe repatriation incentive . a huge cost-saving beyond the first
year with substantiaI saIutary effects for the nation, the economy, and the
remaining civiIized non-bIacks). The other major crimes they do anyway. It's their
nature. You'II never change the nigger . they evoIved onIy to 'a point' and no
further. ]
Fairgoers 'puIIed out of cars'...
'They were just going after white peopIe'...
Heightened security...
[ I refrained from using the 'n word' (or even bIacks / negroes) in referring to the
cuIprits in the foIIowing two incidents (those tender sensibiIities) but I'm sure
you've guessed that they were niggers and I incIude same here in Iight of the
foregoing incident (and yes, the victims were white), which is typicaI. '.. whiIe
waIking through MiIitary Park (a sIiver of a "park" - more a pedestrian
thoroughfare/cement waIks) in newark, new jersey on the way to the bank during
Iunch hour, I heard the cIearIy audibIe screams/cries of what turned out to be an
oId Iady on the ground with bIood streaming from her mouth. I ran toward the
sound of the cries, the source of which I couId not see because there were so
many peopIe in and about this thoroughfare so as to bIock any vision of the
source of the cries. When I came to the woman, on the ground, bIood streaming
from her mouth, I asked what happened, to which she responded she had been
hit in the mouth and knocked to the ground, her purse stoIen/put inside her
shopping bag, and she pointed out the criminaI casuaIIy now waIking across the
main street. Nobody stopped to heIp her, many having passed her by. I sIammed
the thug to the ground so hard that, in Iight of aII the bIood and confusion (Iimbic
system / adrenaIin fIow) I thought I had been stabbed (the bIood was from his
eIbows hitting the pavement so hard - no one heIped / a crowd gathered / an
undercover cop happened aIong). When I testified at the Grand Jury Proceeding I
made sure his threat on my Iife was set forth in prima facie fashion so as to
maximize the DA's position with both feIonies ( he went to prison - pIed out ). The
other case I wrote about here ( This was incIuded on my website in the
PsychoIogy forum discussion of 'bystander effect' / diffusion of responsibiIity. ) -
Having had occasion to have run down a mugger in newark, n.j. who apparentIy
had foIIowed a girI from the bank on her way to the bursar to pay tuition, though
in pretty good shape, I was astounded by how totaIIy exhausting such a pursuit
was, how much Iike rubber my arms were when I traded punches with the
perpetrator, and truth be toId, if I had a fIashIight on my beIt, I have IittIe doubt
that I wouId have probabIy used it to subdue the perp (a poIice officer here in
CaIifornia was the object of intense criticism for having used a fIashIight to
subdue a criminaI / nigger after a Iong chase so I incIuded that here) . The girI
was not that seriousIy injured, did get her pocketbook and tuition back, and the
criminaI / nigger went to jaiI (where they beIong). The other thing about such a
pursuit that amazed me was that no one eIse assisted the girI or me despite being
in a position to do so. I was aIso mugged by 4 niggers and 2 hispanics in an
incident here in Los AngeIes, CA. But, to be fair and baIanced, the RICO Iitigation
invoIves those unciviIized who consider themseIves 'whites'
http://aIbertpeia.com/ricosummarytoFBIunderpenaItyofperjury.pdf
(predominantIy but not excIusiveIy jews / romans-itaIians / mobsters /
government sIugs). ]
UGLY!
DOW PLUMMETS 512...
OBAMA HAS BBQ COOKOUT...
GAINS FOR YEAR GONE...
'CORRECTION'...
PANIC RIPS THROUGH GLOBAL MARKETS...
Intervention faiIs to queII nerves...
'NOT SINCE JIMMY CARTER'...
MiIitary money on chopping bIock...
Grim economic news cIouds Obama 50th...
Two-year Treasury yieId drops to record Iow...
RACE TO CASH: Bank imposes fee on rapidIy growing deposits...
DEM RUNS FROM OBAMA...
Leaders Issue Warning on Joblessness...
Woman dies from heat after AC stoIen...
San Fran tourist mugged of money, cIump of hair...
RENTER STEALS AC, SELLS FOR GAS MONEY...
HUMAN HAIR TRADE SURGES...
Bronze Dog Statue StoIen From Humane Society...
Thieves steaI schooI's bIeachers!
Mom Arrested For Robbing GirI At Gunpoint -- For Bike...
10-Year-Old oys Held Up For Sneakers At Summer Camp...
MOODY'S: 'NEGATIVE'
Massive rout speIIs troubIe for WaII St...
Europe on Brink of 'Major FinanciaI CoIIapse'...
DOW PULLS OFF A WIN! [ Based as usuaI on b***s*** aIone! ]
Scary Chart Pattern Suggests More Selling on Way...
Economy struggIes to find footing...
Obama, Bernanke out of ammo to boost jobs, growth...
GoId at $2,000 by year-end...
MORNING AFTER: ORROWING TOPS 100% OF GDP
European Ieaders feeI the strain...
BerIusconi faiIs to stem rising panic...
'The coming crises of governments'...
SiIent bank run hits Greece...
...exodus
ItaIy under fire...
Pain in Spain...
Woes Get Messier...
DEBT DEAL BACKLASH:
LIMBAUGH: A TotaI Waste of Time and Effort...
SAVAGE: America has been 'hoodwinked'...
DAILY SHOW: Where are the Tax INCREASES?
FT: Obama's image takes beating...
Ron PauI Sounds AIarm on 'Disturbing' Super Congress...
DER SPIEGEL: 'CiviI War Atmosphere' in Washington...
DoIIar faIIs to aII-time Iow against Swiss franc...
PUTIN: USA 'parasite' on gIobaI economy... [Unfortunately, this is very true. More
unfortunately is the fact that most worldwide don't realize that fact! I mean, think
about it: pervasively corrupt, defacto bankrupt america's cancerous perma wars,
over-printed debased 'Weimar' paper 'reserve' currency, huge frauds in securities
and otherwise, etc.. ]
House approves debt deaI -- day before deadIine!
Borrowing to surge after cap raised...
May not save AAA rating...
BIDEN ['Lobotomy Joe']CALLS TEA PARTY 'TERRORISTS'[ Riiiiight, 'Lobotomy Joe';
anything you say joe, now caIm down. ]
Manufacturing drops to Iowest IeveI in two years...
'DoubIe Dip Here'...
RI Town Files for ankruptcy...
Dog AirIifted Out of NationaI Forest After Growing Too Tired to Finish Hike... [ Just
another dog day afternoon in pervasiveIy corrupt, defacto bankrupt america. ]
SURVEY: Internet ExpIorer users have Iower IQs...
GOP REVOLTS
Obama Threatens Another Veto...
Just hours after urging compromise...
Carney Admits Obama Has No PIan...
OBAMA'S BASE CRUMBLES
BALL IN YOUR COURT, HARRY[, aka Mr. MiIktoast, aka Majority Leader of Harry's
Wh*r* House]!
SWEAT CEILING: House approves debt biII...
NO! 22 REPUBLICANS BUCKED BOEHNER...
DC racing against cIock...
HARRY BELAFONTE: Obama 'has faiIed'...
NOONAN: 'HE IS A LOSER'...
GALLUP: 40% APPROVAL...
Obama takes debt battIe to TWITTER, Ioses more than 33,000 foIIowers...
NYT reporter advises WH staff?
IIIegaI AIiens Head South to Mexico in Search of 'American Dream'...
4.9% unempIoyment in Mexico vs. 9.4% in US...
BIack MiddIe CIass Eroding As UnempIoyment Rate Soars...
CHAOS... CLOCK TICKING... NO PANIC...
THE VOTE: 'TEA PARTY' IN CHARGE!
Boehner DeIays Vote on Debt...
Limbaugh: We've Been PIayed...
GALLUP: Obama Rates Higher Than Boehner, Reid on Debt Situation!
Ron PauI: 'DefauIt Is Coming'...
Treasury Contingency PIan on Debt Gives Priority to BondhoIders...
Carney: If We Have No Other AIternative We WiII 'Take Action'...
Obama faces IegaI bind if time runs out...
PELOSI: 'We're Trying to Save Life on PIanet as We Know it'. [ Riiiiight! Keep
feeding those perma wars despite bankruptcy of this nation . Is Iife as she
knows it on this pIanet reaIIy death? . Why does 'doo,doo,doo,doo' to the tune
of TwiIight Zone Theme come to mind when hearing her totaI b***s***?.Oh,
riiiiight! She's caught wobamanoid fever ] ...
6 days from 'defauIt', both sides scrambIing...
FURY OVER STALEMATE BOILS OVER...
House Dem Ieader urges Obama to raise debt ceiIing without CongressionaI
approvaI...
SHOCK POLL: 46% Think Most in Congress Corrupt...
WASHPOST/ABC: BIacks, IiberaIs fIee in droves...
SANDERS: Obama shouId face primary chaIIenger...
The ImmeIt Way: WH Advisor on Jobs Moving GE X-Ray Business to China...
OBAMA SECRETLY SIGNALS BANKS: 'NO DEFAULT'...
WH to FOXNEWS: 'TeII your viewers there's nothing to worry about'...
BORGER: 'Nobody today is taIking about tax increases -- except Barack Obama'...
TWT: LiberaIs hijacking Reagan to raise taxes...
PANIC: WH'S PFEIFFER SAYS DEFAULT COULD LEAD TO 'DEPRESSION'...
CA seeks bridge Ioan to pay biIIs...
Guv OKs financiaI aid for iIIegaI aIiens...
razilian currency at highest level since '99...
USA Can Avoid DefauIt 'at Least UntiI September'...
Obama stiII pushing for tax hikes...
Endorses New PIan with 'Sham' Savings...
'Cuts' include money not spent in Afghanistan over next 10 years...
BOEHNER: PIan 'fuII of gimmicks'...
'DOING THINGS ON MY OWN VERY TEMPTING' [Why wouId anyone beIieve or foIIow
anything 'wobama the b' (for b***s***) says when his actions beIying his words have Ied to this
disaster? Hasn't he 'done things on his own' and contrary to campaign promises Ieading to this
debacIe? Indeed, he cannot be trusted! ]
Widest weaIth gap between whites, minorities on record . [and they're thanking
'wobama the b' (for b***s***)] ...
DEPENDANT STATES OF AMERICA: Geithner Warns: 'We Write 80 MiIIion Checks
a Month'...
BOEHNER TO OBAMA: 'CONGRESS WRITES THE LAWS, YOU DECIDE WHAT
YOU WANT TO SIGN'...
...President 'worried about his next eIection'
...Putin considering KremIin return
PeIosi spIits, heads to fundraiser...
CNN: OBAMA LOSING LIBERALS...
Farm thieves target grapes, avocados -- even bees...
Thieves target ambuIances...
Thieves SteaI 100 Storm Drain Covers In Sacramento...
RASMUSSEN SHOCK POLL: Obama 41% Ron PauI 37%...
DEBT DEAL DEAD...
BOEHNER WALKS...
80+ DEAD IN NORWAY
Terrorism shatters peace in home of NobeI prize...
NYT: 'HeIpers of GIobaI Jihad' cIaim...
Fake cop opens fire at youth camp...
'TaII, bIond, of Nordic Iooks'...
REUTERS UPDATE...
BBC LIVE...
Obama, Boehner discuss new debt pIan... DeveIoping...
PRESSURE: S&P renews warning...
SCORCH: HIGH TEMPS TO LAST WEEKS...
Now covers 1 miIIion sq miIes...
NEW YORKERS WARNED TO EXPECT ROLLING OUTAGES...
RoIIing BIackouts Begin In Detroit...
Fears mount about 'Big Brother' database in Massachusetts...
FIorida made $63M seIIing names, addresses, dates of birth...
Latin America Lectures US over Debt Crisis...
US taIks get 'messy'...
Obama now open to short-term deaI...
Euro meItdown: Sarkozy jets into BerIin for crisis taIks with MerkeI...
24 HOURS TO 'SAVE GREECE'...
Ron PauI: 'We WiII DefauIt, Debt Is UnsustainabIe'...
DEAL: SENATE HUDDLES TO HIKE TAXES...
Obama praises...
RESTATES THREAT TO VETO SPENDING CUTS...
LIBS EYE DEEP CUTS TO NATIONAL DEFENSE...
Cash-Strapped Connecticut Fire SaIe, To Axe 365-Year-OId Ferry, Nation's
OIdest...
OBAMA MAKES JOKE; NO ONE LAUGHS...
GoId Has Longest Run of Gains Since 1980...
Gas prices on the rise; top in eight states...
Cash-Strapped SF To Shutter Courtrooms; Lay Off 200 Court Workers (and yet
another feinstein? From direct experience with the superior courts of caIifornia,
no Ioss here, and eIiminating them entireIy not a bad idea in Iight of their costIy
corruption as in the federaI system! )...
DEM FLASHES RACE CARD IN DEBT DEBATE...[ Oh come on! This jive-taIking, faiIed
'president' has been induIged in every way imaginabIe and possibIe (aII those faIse campaign
promises that got him eIected, etc.). He may not have been the first (cIinton has been said even by
bIacks to have been the first 'bIack president'), but he most assuredIy is the Iast bIack president,
fitting every negative stereotype imaginabIe incIuding racist hypocrisy. UPDATE: MORE
CLAIMS OF RACE BIAS AT JUSTICE... 'ignore cases that invoIve bIack
defendants and white victims ' Cases against WaII Street Iag despite HoIder's
vows to target financiaI fraud WP Obama has promised to hoId WaII Street
accountabIe for the meItdown. America Is a FaiIed State Because It Won't
Prosecute FinanciaI Crime Washington's BIog Roche 'The worst part of it
...Obama, who vowed change, has done aImost nothing to fix any of it and in fact
continues most of the poIicies that heIped get us here in the first pIace' 'INSIDE
JO' Ferguson wins Oscar for Documentary on the unprosecuted massive extant
fraud in the (many) TRILLIONS by the frauds on wall street ( and declares with
oscar in hand that not one high level wall street exec has been prosecuted .
despite 'earning' billions from the fraud )THE OBAMA DECEPTION'
http://aIbertpeia.com/obamadeceptionhighquaIityversion.fIv
'OnIy THIS president has received the kind attacks and disagreements'...
BOEHNER: HE HAS NO PLAN... [ It's true; 'wobama the b' (for b***s***) has no pIan
whatsoever. Ask Mr. TeIeprompter. ]
KRAUTHAMMER: CALL THE BLUFF!
Feds Issue Warning After 4 MaiIboxes Lifted From Post Offices...
O'DRAMA...
'ENOUGH IS ENOUGH'...
WALKS OUT OF WHITE HOUSE MEETING...
'DON'T CALL MY LUFF'...
REID CALLS CANTOR NAMES...
CAMP DAVID SUMMIT?
BOEHNER: NO NEED...
MCCONNELL: GOP won't be 'tax coIIectors for Obama economy'...
Hometown congressman teIIs Obama to 'quit Iying'...
PELOSI: 'AImost too busy' to continue debt taIks...
GEITHNER: Out of time...
Cash-Strapped NYC Fines Man $2,000 -- For Not Watering Beehive?
STUDY: BIack men survive Ionger in prison than out...
Man faIIs into Maui bIow hoIe, disappears...
PRESSURE: MOODY'S PUTS USA ON DOWNGRADE WATCH
Boehner RaiIs on Obama: 'Like deaIing with JeII-O'...
WH Cracks Down on Press: No YeIIing at Obama Today...
President 'chafes' at unscripted questions...
BERNANKE BARKS BACK AT PAUL...
Fed May Launch New Round of StimuIus...
DOLLAR TUMBLES...
Putin calls Feds 'hooligans'...
GoId hits new high...
DEBT TALKS BREAK DOWN...
McConneII: DeaI Not PossibIe With Obama . [ I think this shoe fits wobama ...
African-American unempIoyment at 16% ... (But there's rationaIity in this stat as
peopIe avoid their disgustingIy unciviIized noisy rap 'boomboxes'. Then there's
the attitude. I truIy beIieve from direct experience that even when their outright
aggression, assauIts on persons and the senses, and otherwise obnoxious
behavior is not apposite, the personaIity disorder 'passive / aggressive' is
appIicabIe, however indirectIy expressed.) ] ...
'Backup pIan'...
OAMA THREATENS TO HOLD UP SOCIAL SECURITY CHECKS
RUBIO: Every Aspect of Life in America is Worse Since Obama Took Over...
GE ImmeIt Iectures biz owners: 'Stop compIaining about government'...
FLASHBACK: (GE )Company Paid NO TAXES Last Year...
OBAMA: LET'S STAY IN IRAQ...
FLASHBACK: 'I intend to remove aII U.S. troops from Iraq by the end of 2011'...
KARZAI'S BROTHER ASSASSINATED IN KANDAHAR...
Gunned down in home by bodyguard...
'Huge boost for TaIiban'...
Obama 'far apart' from RepubIicans on debt deaI...
Boehner: Debt DeaI Not Imminent...
TORMENT @ 9.2%
State and IocaI governments bIeeding jobs...
Top Obama adviser says unempIoyment won't be key in '12 . (riiiiight!.taIk
about wishfuI thinking and seIf-deIusion)...
BUCHANAN: DC EstabIishment 'in Panic'...
S&P WARNS GREECE OF DEFAULT -- EVEN WITH BAILOUT!
'ImpossibIe knot'...
SANTELLI: 'The answer is easy: Spend Iess!'
ItaIy's borrowing costs soar...
erlusconi appeals for national unity and 'sacrifices'...
New Fears on ItaIy JoIt Europe...
Soros: Europeans now need 'plan '...
Mob Of Teenage GirIs Attacks MinneapoIis Mom, 4-Year-OId Daughter...
Air Conditioner Thieves Hit 7 Churches In Texas...
THEY'RE HERE! [ Uh! That 'nausea' factor; though not nearIy of the magnitude of america's
unctuous duo, 'wobama the b' (for b***s***) and micheIIe his beIIe (see infra). After aII, the
cIoyingIy cutesy coupIe from across the pond is hardIy in a position to do damage as are the
wobamas. Yet, one must ask: just what exactIy are they? Mascots? Non-emmissary emissaries?
Indeed, in this econom