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The "up-to-the-minute Market Data" thread

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posted on Mar, 25 2009 @ 07:56 AM
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Originally posted by Hx3_1963
reply to post by Hastobemoretolife
 
Mr Pause:

CC: Stander ; Et Al ; All

Your indulgence if you please...

Another Scenerio...

fear + distrust + default = depression

depression + debt deflation = conflageration

conflageration + depression = deflaguration (collapse)

regards,

Hx3


That sounds about right! One of the problems with debt deflation is that it gives people a strong incentive to stop paying their bills. So, some people who bought at the peak of the housing bubble can pay their bills, but the house was worth $250,000 and it's now worth $125,000, then it doesn't take a rocket scientist to figure out that you'll be better off taking that nasty blemish on your credit report and NOT having to dish out $125,000 more than the value of the home. And of course, if credit(debt)-granting agencies increase rates to try to recoup losses, then that gives even more people incentive to just stop paying and wait for a settlement offer.

Couple this with a regulation system that doesn't actually regulate. Now take all of this and drop it in a country where nearly all GDP "growth" has actually been debt, for the past 15 years.

Hope you like Argentina, because that's how these countries tend to wind up.

[edit on 25-3-2009 by theWCH]




posted on Mar, 25 2009 @ 08:00 AM
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Merril l - David Rosenbergs economic commentary (.pdf)

Rosenberg provides a mostly objective view of where we are and what's happening. Well worth the read

U.S. Durable Goods Orders Unexpectedly Jumped 3.4%

commentary (hattip Moonoverseattle)

Durable Goods for the month of February has come in with a massive surprise this morning. These might get washed over because of revisions, but these are much better on the surface than what was expected. The reading came in at +3.4% on the headline durable goods, and it was up at +3.9% on an ex-Transportation. On the headline numbers we had estimates from both Dow Jones and Bloomberg as being an expected -2.0%.

January was revised, and the revisions are significantly lower. The headline durable goods was revised to -7.3% from a prior report of -5.2%; and the ex-Transportation revision was more than doubled to -5.9% from a prior reading of -2.5%.

When you adjust for seasonality, this put the total tally at $165.56 billion in long-lasting goods in February. To show the difference on a raw basis year over year, this was actually a drop of 28.4% on an unadjusted basis. The portion of unfilled orders also posted another decline, with this one being a drop of -1.3%. That means that there is a gap ahead rather than pressure building to the upside.

As a reminder, Durable Goods is one of the most volatile numbers and the revisions can be sharp. These numbers can also whip up and down in a manner that is not necessarily in any correlation with the economy because of timing. It is great we are seeing the positive numbers, but if you smooth this out then you actually get a wash out when you blend the revised lower numbers of January with the higher numbers in February.

This is a great number on the surface. Unfortunately, durable goods might not give the right read on any given month. The revisions for January should only drive that notion home even further.

[edit on 3/25/09 by redhatty]



posted on Mar, 25 2009 @ 08:06 AM
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reply to post by Hx3_1963
 


I don' think you can intimidate anyone with your ill mannered reply.
I made a mistake or two and have paid the piper. It takes awhile to get acquainted with the system.
Thanks for the data.



posted on Mar, 25 2009 @ 08:14 AM
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Obama Op-Ed piece: A Time For Global Action

This only ran in a few papers here in the US. I found a link at the Huffington Post:


A time for global action
By Barack Obama
Monday, March 23, 2009

WASHINGTON: We are living through a time of global economic challenges that cannot be met by half measures or the isolated efforts of any nation. Now, the leaders of the Group of 20 have a responsibility to take bold, comprehensive and coordinated action that not only jump-starts recovery, but also launches a new era of economic engagement to prevent a crisis like this from ever happening again.

No one can deny the urgency of action. A crisis in credit and confidence has swept across borders, with consequences for every corner of the world. For the first time in a generation, the global economy is contracting and trade is shrinking.

Trillions of dollars have been lost, banks have stopped lending, and tens of millions will lose their jobs across the globe. The prosperity of every nation has been endangered, along with the stability of governments and the survival of people in the most vulnerable parts of the world.

Once and for all, we have learned that the success of the American economy is inextricably linked to the global economy. There is no line between action that restores growth within our borders and action that supports it beyond.

If people in other countries cannot spend, markets dry up -- already we've seen the biggest drop in American exports in nearly four decades, which has led directly to American job losses. And if we continue to let financial institutions around the world act recklessly and irresponsibly, we will remain trapped in a cycle of bubble and bust. That is why the upcoming London Summit is directly relevant to our recovery at home.
Story continues below

My message is clear: The United States is ready to lead, and we call upon our partners to join us with a sense of urgency and common purpose. Much good work has been done, but much more remains.

Our leadership is grounded in a simple premise: We will act boldly to lift the American economy out of crisis and reform our regulatory structure, and these actions will be strengthened by complementary action abroad. Through our example, the United States can promote a global recovery and build confidence around the world; and if the London Summit helps galvanize collective action, we can forge a secure recovery, and future crises can be averted.

Our efforts must begin with swift action to stimulate growth. Already, the United States has passed the American Recovery and Reinvestment Act -- the most dramatic effort to jump-start job creation and lay a foundation for growth in a generation.

Other members of the G-20 have pursued fiscal stimulus as well, and these efforts should be robust and sustained until demand is restored. As we go forward, we should embrace a collective commitment to encourage open trade and investment, while resisting the protectionism that would deepen this crisis.

Second, we must restore the credit that businesses and consumers depend upon. At home, we are working aggressively to stabilize our financial system. This includes an honest assessment of the balance sheets of our major banks, and will lead directly to lending that can help Americans purchase goods, stay in their homes and grow their businesses.

This must continue to be amplified by the actions of our G-20 partners. Together, we can embrace a common framework that insists upon transparency, accountability and a focus on restoring the flow of credit that is the lifeblood of a growing global economy. And the G-20, together with multilateral institutions, can provide trade finance to help lift up exports and create jobs.

Third, we have an economic, security and moral obligation to extend a hand to countries and people who face the greatest risk. If we turn our backs on them, the suffering caused by this crisis will be enlarged, and our own recovery will be delayed because markets for our goods will shrink further and more American jobs will be lost.

The G-20 should quickly deploy resources to stabilize emerging markets, substantially boost the emergency capacity of the International Monetary Fund and help regional development banks accelerate lending. Meanwhile, America will support new and meaningful investments in food security that can help the poorest weather the difficult days that will come.

While these actions can help get us out of crisis, we cannot settle for a return to the status quo. We must put an end to the reckless speculation and spending beyond our means; to the bad credit, over-leveraged banks and absence of oversight that condemns us to bubbles that inevitably bust.

Only coordinated international action can prevent the irresponsible risk-taking that caused this crisis. That is why I am committed to seizing this opportunity to advance comprehensive reforms of our regulatory and supervisory framework.

All of our financial institutions -- on Wall Street and around the globe -- need strong oversight and common sense rules of the road. All markets should have standards for stability and a mechanism for disclosure. A strong framework of capital requirements should protect against future crises. We must crack down on offshore tax havens and money laundering.

Rigorous transparency and accountability must check abuse, and the days of out-of-control compensation must end. Instead of patchwork efforts that enable a race to the bottom, we must provide the clear incentives for good behavior that foster a race to the top.

I know that America bears our share of responsibility for the mess that we all face. But I also know that we need not choose between a chaotic and unforgiving capitalism and an oppressive government-run economy. That is a false choice that will not serve our people or any people.

This G-20 meeting provides a forum for a new kind of global economic cooperation. Now is the time to work together to restore the sustained growth that can only come from open and stable markets that harness innovation, support entrepreneurship and advance opportunity.

The nations of the world have a stake in one another. The United States is ready to join a global effort on behalf of new jobs and sustainable growth. Together, we can learn the lessons of this crisis, and forge a prosperity that is enduring and secure for the 21st century.

Barack Obama is president of the United States. A Global Viewpoint article distributed by Tribune Media Services.


Desperation or promotion of a "New World Order" agenda?



posted on Mar, 25 2009 @ 08:31 AM
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reply to post by redhatty
 


I think Obama's Op-ed is a little of both. A little, I'm in way over my head and I'm to boneheaded to stray from my "vision" to back off of my proposals, and I think I have enough political capital to guide us into a New World Order.

He's in too far over his head and he favors giving Timmy and the FED the power to do whatever they want so he doesn't look like the bad guy, but at the same time achieving his goal. He wants to seize businesses because there is a very real threat of pulling a "John Galt" and then pointing the finger and saying so and so had to do it because it "had" to be done.


Futures are all up, I don't know how anybody can say we are "recovering" with such dramatic and unpredictable swings like we are seeing. It shows more uncertainty than anything else.

[edit on 25-3-2009 by Hastobemoretolife]

[edit on 25-3-2009 by Hastobemoretolife]



posted on Mar, 25 2009 @ 08:53 AM
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Say goodnight, Flint...

What to do with abandoned neighborhoods in Flint...

FLINT, Michigan -- Look in any direction from Bianca Bates' north Flint home, and you'll see graffiti-covered siding, boarded-up windows and overgrown lots.

About half of the homes on her block are burned out or vacant magnets for drug dealers and squatters. It isn't where she thought she'd end up, but it's all she can afford to rent.

"It's a dangerous place to live," said Bates, 21, who lives on East Russell Avenue. "Everywhere you look, these houses are empty around here."

Property abandonment is getting so bad in Flint that some in government are talking about an extreme measure that was once unthinkable -- shutting down portions of the city, officially abandoning them and cutting off police and fire service.

Temporary Mayor Michael Brown made the off-the-cuff suggestion Friday in response to a question at a Rotary Club of Flint luncheon about the thousands of empty houses in Flint.

Brown said that as more people abandon homes, eating away at the city's tax base and creating more blight, the city might need to examine "shutting down quadrants of the city where we (wouldn't) provide services."

He did not define what that could mean -- bulldozing abandoned areas, simply leaving the vacant homes to rot or some other idea entirely.

On Monday, a city spokesman downplayed Brown's comments.

Bob Campbell, Brown's spokesman, said the acting mayor was speaking hypothetically about a worst-case scenario, "not something that would be laid out in the next six months" while he's in office.

But City Council President Jim Ananich said the idea has been on his radar for years.

The city is getting smaller and should downsize its services accordingly by asking people to leave sparsely populated areas, he said.

"It's going to happen whether we like it or not," he said. "We'd have to be creative about it, but it's something worth looking into. We're not there yet, but it could definitely happen."


More at the link.




[edit on 25-3-2009 by theWCH]



posted on Mar, 25 2009 @ 08:56 AM
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As I have said in this thread before, I am asea when it comes to interpreting graphs, etc...
But I suspect that when the market rallies as it is doing now, the volume is low, ie: the few at the top are manipulating the market and artificially inflating the numbers.
Could someone here confirm this? Or educate me as to where to look and how to interpret volume activity?
I believe this would be undeniable proof that TPTB are artificially inflating the numbers.



posted on Mar, 25 2009 @ 09:10 AM
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reply to post by theWCH
 


They got this idea from Akron Ohio, where they paid people who where often the last, second to last, third to last families on a street to move. They then tore down the houses, stopped all services of all kinds to the areas. The pictures afterwords are so creepy... empty field that nature is reclaiming, but with streets zigzagging here and there, slowly decaying, and fire hydrants.

A town right next to where I grew up, Springfield Ohio, tore down it's abandoned downtown and all the boarded up houses and built a huge hospital complex. (I think there are more Hospitals in Ohio then people lol). Granted, the towns still wasting away, as are many old manufacturing towns in the North.



posted on Mar, 25 2009 @ 09:13 AM
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CNBC breaking news:

Geithner says he IS open to the idea of a global currency.
www.cnbc.com



posted on Mar, 25 2009 @ 09:18 AM
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reply to post by Elostone
 


I think if you watch the pre bell trading you see that the cats are buying in.
What have they got to loose at these bottom prices.
I think the up trend is just cautious trading that keeps the volume low.
Many have been burned jumping on what looks like a good thing.
Nice to see a post that is searching for some positive reasoning.



posted on Mar, 25 2009 @ 09:21 AM
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reply to post by RetinoidReceptor
 


I just listened to his press conference on CNN and he explicitly said he believes the dollar will continue to be the currency marker for the world. Although I doubt it, he also said he hasn't read the Chinese Bank's proposal fully.



posted on Mar, 25 2009 @ 09:22 AM
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Sorry if this has been posted already but this thread is moving very fast! I looked back through the last couple of pages and couldn't find the information already but I may have missed it.


March 25 (Bloomberg) -- The U.K. failed to find enough buyers for 1.75 billion pounds ($2.55 billion) of bonds for the first time in almost seven years as debt investors repudiated Prime Minister Gordon Brown’s plan to stem the worst economic crisis in three decades. Gilts slumped after the London-based Debt Management Office, which manages bond auctions on behalf of the Treasury, said investors bid for 1.63 billion pounds of the 40-year securities. The last time the U.K. government was unable to attract enough investors was in 2002 when it tried to sell 30- year inflation-protected bonds. Brown’s government plans to sell a record 146.4 billion pounds of debt this fiscal year and as much as 147.9 billion pounds in 2010 as he tries to pull Europe’s second-largest economy out of its worst recession since 1980. Brown’s plan drew criticism yesterday when Bank of England Governor Mervyn King told lawmakers in Parliament in London the government should be “cautious” about spending and deficits. “This is a warning signal investors are sending to the government,” said Neil Mackinnon, chief economist at hedge fund ECU Group Plc in London, who helps manage about $1 billion in assets and is a former U.K. Treasury official. “Investors are giving the thumbs down to the gilt market.”


Bloomberg

I don't know the full implications of this but it doesn't sound good!



posted on Mar, 25 2009 @ 09:24 AM
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Originally posted by Avarus
reply to post by RetinoidReceptor
 


I just listened to his press conference on CNN and he explicitly said he believes the dollar will continue to be the currency marker for the world. Although I doubt it, he also said he hasn't read the Chinese Bank's proposal fully.


www.cnbc.com...

Yes but he also told the Council on Foreign relations that he is opened to a global currency.



posted on Mar, 25 2009 @ 09:25 AM
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Originally posted by RetinoidReceptor

Originally posted by Avarus
reply to post by RetinoidReceptor
 


I just listened to his press conference on CNN and he explicitly said he believes the dollar will continue to be the currency marker for the world. Although I doubt it, he also said he hasn't read the Chinese Bank's proposal fully.


www.cnbc.com...

Yes but he also told the Council on Foreign relations that he is opened to a global currency.


Wait a second now he is not endorsing a global currency. Breaking news in CNBC. I bet someone called Geithner and told him to retract his statements.



posted on Mar, 25 2009 @ 09:31 AM
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and in contrast to closing down a town....

U.S. home sales climb at fastest pace in 10 months


Sales of newly built U.S. single-family homes unexpectedly rose at their fastest pace in 10 months in February, while prices fell by a record margin from a year ago, a government report showed on Wednesday.

The Commerce Department said sales rose 4.7 percent to a 337,000 annual pace, the fastest increase since April last year, from an upwardly revised 322,000 in January. Despite the increase, February sales were the second lowest ever after the drop in January to the slowest pace in records going back to 1963, the department said.

Economists polled by Reuters had forecast sales at a 300,000 rate in February.

The median sales price in February fell a record 18.1 percent to $200,900 from a year earlier, the department said. The median marks the half-way point, with half of all houses sold above that level and half below.

The inventory of homes available for sale in February was at 330,000, the smallest since June 2002. The February sales pace left the supply of homes available for sale at 12.2 month's worth.


Where are people buying & who is buying? It isn't happening where I live.

Maybe the "Ministry of Propaganda" is in full swing these days????

Maybe we need to call Calculated Risk the "Ministry of Truth" - this blog puts the news numbers into a real perspective


The Census Bureau reports New Home Sales in February were at a seasonally adjusted annual rate of 337 thousand. This is slightly above the record low of 322 thousand in January.

Full article and graphs

In other news....

Obama Plans to Name Task Force to Review, Overhaul Tax Code


President Barack Obama plans to name a task force to review and overhaul the U.S. tax code, a spokesman for the Office of Management and Budget said today.

Obama will ask the Economic Recovery Advisory Board, led by former Federal Reserve Board Chairman Paul Volcker, for a top-to- bottom review of the 96-year-old law in an effort to “rebalance the federal tax code,” spokesman Tom Gavin said in an interview.


Not sure if this should be comforting or cause me to be very afraid.

Gold had a rocket shot then a quick reversal at the same time the /DX took a nose dive, with a quick reversal. Some strange activity going on. ADDED: Not so strange - the dump & jump correlated EXACTLY with the timing of Geithner's remarks to the CFR.


The U.S. dollar fell to a session low against the euro after Geithner said he was "quite open" to China's suggestion of moving toward SDR-linked currency system.

source

Volume in the last hour 25% of daily total. Volume on the day is running about 1/2 the recent average however

OMG!!!

Czech government falls


Czech Prime Minister Mirek Topolanek's minority center-right government lost a vote of confidence on Tuesday, forcing it out of office and undermining policy-making during the global economic downturn.

Topolanek said he was ready to resign, although the opposition Social Democrats said before the vote that his government could stay on to complete the EU presidency, which the Czech Republic holds until the end of June.

It was the third government collapse in eastern Europe this year after the leaders of Latvia and Hungary stepped down after their economies were hit by the financial crisis -- though Topolanek's defeat was more to do with domestic wrangling.

The Czech Republic has been less affected than some of its eastern European neighbors by the financial crisis, and despite the political turmoil the crown currency has held broadly steady after recovering from a drop earlier this year.

The crown dipped just 0.4 percent to 27.09 to the euro after the vote.

The three-party ruling coalition, weak since its 2007 appointment due to a lack of a parliamentary majority, lost by one vote after several defectors from its camp supported the left-wing opposition.

But opposition Social Democrat leader Jiri Paroubek told a news conference ahead of the vote that, "this government can continue for some time as a government in resignation, it can complete the Czech EU presidency or its substantial part."

The opposition has blamed the government for economic mismanagement. Paroubek said a government of non-partisan experts could be formed in the summer to lead the country to early polls in the autumn or next spring.

Regular polls are due in mid-2010.




[edit on 3/25/09 by redhatty]



posted on Mar, 25 2009 @ 10:06 AM
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State is wrongly seizing private funds


New Hampshire's budget is being balanced this year in part by turning private insurance funds into government money and appropriating the funds for government use. The raid illustrates how fiscal problems can tempt a government to limit property rights and rationalize behavior it would never consider otherwise.

The state's current financial crisis is well known. During the governor's budget address, he announced his intention to use $110 million from a little-known medical malpractice fund to balance the budget. His announcement immediately sent policy makers scrambling to find out exactly what the fund was.

No one knew there was $110 million available to the government sitting in an untapped fund. When legislators had passed a bill a few weeks earlier to clear out surpluses in other dedicated funds, they had found only about $16 million. The governor had waved a magic wand and -- presto! -- a huge chunk of money materialized.

It turned out there was good reason no one knew it was available. That's because it's neither state money nor a government program. The medical malpractice fund is a privately funded high-risk insurance pool administered by a private company through a provision in state law for joint underwriting agreements. The state doesn't pay for it or administer it. It is merely set up through state rules that allow for such joint agreements.

The co-operative fund assesses premiums and holds the money in trust against future charges. When it has a balance, it invests those funds according to a formula set up by its rules. The premiums and investment have been more than enough to pay charges, so the pool has a surplus.

This is exactly how mutual or cooperative insurance works. In the case of a typical mutual insurance cooperative, excess funds not needed to pay premiums are returned as a dividend to those who paid premiums. This may be how your car insurance works. In my case, we pay premiums throughout the year and then receive a check refunding excess premiums.

In fact, the cooperative medical malpractice fund has exactly the same provision. The money is held in trust but must be remitted to members or premium payers should there be a surplus. The wording is available in the rules on the insurance department's Web site. (It's rule 1703.07.)

The rule specifically requires that if premiums exceed the amount required to pay losses and expenses, they shall be distributed first to members and then the fund must "distribute the excess to such health care providers covered by the association as is just and equitable."

There's nothing weird about this. It is how any mutual insurance organization operates. Premiums are held in trust to pay claims. If you don't have claims, the premiums are not justified and cannot be justified.

The explicit rules of the underwriting agreement don't provide a third paragraph that says "yeah, but if the state's having trouble balancing its budget then nobody gets his money back and the state can just take it."

The state has a long memo from the Attorney General's Office that explains why in the attorney general's opinion no entity has enough standing "such that it could successfully challenge a legislative act to transfer the funds to the General Fund." Essentially the state argues that because joint agreements are allowed by statute, statute can be used to seize their funds. I'm not sure anyone who set up the fund realized that.

The attorney general also cites cases in other states where the state court allowed the legislature to take the money. In those cases, the agreement did not have rules providing for the distribution of any excess funds.


More at link

AIG is chump change -- let's find corporate America's hidden billions


The popular urge to claw back the bogus bonuses paid by American International Group is irresistible and fully justified, but should the Treasury someday retrieve every single bonus dollar, that total of $165 million will make no difference to anyone except a few disgruntled traders. From the jaded perspective of the financiers, the uproar over the AIG bonuses may provide a welcome distraction from far more important (and lucrative) abuses in the world's offshore tax havens.

So rather than continue arguing over chump change, it is long past time for the United States, with its international friends and allies, to demand accountability from the long list of tiny countries and principalities, from Andorra and the Cayman Islands to Singapore and Switzerland, where corporations, wealthy clients and unrepentant evildoers hide their assets.

The big claw-back will reach into quaint islands and mountainous principalities, because the same banks, hedge funds and private equity firms responsible for the world financial meltdown keep their profits in those "secrecy spaces" -- alongside the ill-gotten gains of numerous drug dealers, dictators and delinquents of every description.

According to the Government Accountability Office, nearly all of America's top 100 corporations maintain subsidiaries in countries identified as tax havens. As the GAO notes, there could be reasons other than avoiding the IRS to set up branches in places such as Singapore, Luxembourg and Switzerland, where taxes are light or nonexistent and keeping clients' illicit secrets is considered a matter of national pride.

But what reason other than evasion could there be for Goldman Sachs Group to set up three subsidiaries in Bermuda, five in Mauritius, and 15 in the Cayman Islands? Why did Countrywide Financial need two subsidiaries in Guernsey? Why did Wachovia need 18 subsidiaries in Bermuda, three in the British Virgin Islands, and 16 in the Caymans? Why did Lehman Brothers need 31 subsidiaries in the Caymans? What do Bank of America's 59 subsidiaries in the Caymans actually do? Why does Citigroup need 427 separate subsidiaries in tax havens, including 12 in the Channel Islands, 21 in Jersey, 91 in Luxembourg, 19 in Bermuda and 90 in the Caymans? What exactly is going on at Morgan Stanley's 19 subs in Jersey, 29 subs in Luxembourg, 14 subs in the Marshall Islands, and its amazing 158 subs in the Caymans? And speaking of AIG, why does it have 18 subs in tax-haven countries? (Don't expect to find out from Fox News Channel or the New York Post, because News Corp. has its own constellation of strange subsidiaries, including 33 in the Caymans alone.)


More at link


[edit on 3/25/09 by redhatty]



posted on Mar, 25 2009 @ 10:07 AM
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reply to post by redhatty
 


Your external source post on the housing may just be a chink in the shorters armor.
Good news



posted on Mar, 25 2009 @ 10:21 AM
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A fabulous rant - absolutely fabulous!

Mike Morgan: Obama and Liddy are Liars


The Thinking Man's Guide to Populist Rage - That's the headline on the cover of Newsweek this week featuring an angry mob.

Rage? For those that think I am Chicken Little, this is a major media outlet using the word RAGE to describe how the populist feels. Pick up this issue of Newsweek. There is only so much I can talk about new on our conference calls. I try to dig where no one else is digging, and I try to look at the global picture. I started talking about Madagascar two months ago. No the government has fallen. I realize this is just an island of the coast of Africa, but it seems like a good barometer of things to come for me. The police and military finally said . . . we will not pick up our weapons against the citizens.

I've been talking about Ireland for a year. For the past few months I have been telling you how Hungary is a zombie, and Austria is Hungary's unfortunate banker. This week Hungary's President walked off the job. Germany and France are experiencing protests. Spain is a total basket case. Italy still doesn't understand what's going on, but what do you expect when a con-man is running the country. This brings me right back to the good old USA. I still believe we will see widespread violence by the end of August. Newsweek kinda confirmed what I've been spouting off about.

AIG Final Word - Goldman Sachs created the crap that they sold to the world and then showed the boys and girls at AIG how to write bets on. Goldman Sachs was the biggest buyer of these one-way bets. They knew they were going to get paid off, because they created the crap and they created the game to insure the crap. So who did we turn to when it was time to bail out AIG . . . the former CEO of Goldman Sachs and a dozen of his cronies . . . along with Tim the Tax Cheat as the head of the NY Fed.

So the final word is this. I am totally sick of hearing what a nice guy Ed Liddy is, and he's doing this for $1, and he has no stake in this, and he is totally unbiased, and he only has the interests of the American people at heart. Do you really believe the crap about Ed Liddy coming out of retirement to work for free to turn things around at AIG? Do you really, deep down believe that? If you do, you are a Putz with a capital P.

Ed Liddy was a Goldman Sachs Director right up until the day he resigned last September!!!!!!!!!!!!!! Why do you think King Henry picked him? Why do you think Liddy is working for "free" . . . at least on the surface? Ed Liddy and the guys that appointed him . . . King Henry, Tim the Tax Cheat and Carney Frank should go to jail for this one. So why isn't anyone talking about this? Because the boys and girls on CNBC and CNN and Fox all bow down to Goldman Sachs.

Who has received twice as much AIG money as any other entity in the entire world . . . Goldman Sachs. What company received the most direct bail out money . . . in fact, five times more than any other company? The numbers are staggering and the dirty money trail all flows from and to Goldman Sachs.

If you want to save this country, let's start by shutting down Goldman Sachs and rounding up the bums.


Rant continues at link



posted on Mar, 25 2009 @ 10:22 AM
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reply to post by Rockpuck
 

Take hart my friend

Tribute to our new Presidents financial policy

Nothing in the world can take the place of persistence.
Talent will not; nothing is more common than unsuccessful men with talent.
Genius will not; un-rewarded genius is almost a proverb.
Education alone will not; the world is full of educated derelicts.
Persistence and determination alone are omnipotent.



posted on Mar, 25 2009 @ 10:30 AM
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Originally posted by Donny 4 million
reply to post by redhatty
 


Your external source post on the housing may just be a chink in the shorters armor.
Good news


Are you speaking of the Calculated Risk blog? If anything that would be the lead in the shorter's ammo, not a chink in the armor.

We have a serious shortage of good news these days. If you can find anything good about our failing economy, you are either delusional or hoping for a new world order - either way, you are not in proper alignment with the spirit of this thread



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