Barron's: Why The Market Will Keep Sliding: Perry D
Barron's: Why The Market Will Keep Sliding: Perry D
Barron's: Why The Market Will Keep Sliding: Perry D
summary of what the future may hold in its "Up and Down Wall Street." It
summarizes as well as anything I've read recently where we're likely
headed. Bugging the (stock) market is the increasingly obvious disparity
between what the Street's incorrigble cheerleaders see and prophesy and
what's actually happening in the real world...The double dip in housing may
or may not be a template of what's in store for the economy as a whole. But
at the very least, it is a precursor of other serious disappointments
destined to feed the unease among the jittery populace, which most
emphatically includes investors.
It cites the predictions of SDK Captial's Dee Kessler:
That about sums up the outlook. The nice insight here is that anxiety over
future economic malaise -- and the additional money printing that'll be
done to mask it -- might be a bigger factor than current inflationary
pressure behind the surge in gold prices.
In other words, for the deflation-believers: deflation today? Perhaps. But
big-time inflation tomorrow.
Disclosure: No positions
Inflation, Deflation or Hyperinflation? (Part 2) (There are charts, but no
matter what the scenario posited, this time the territory’s uncharted,
and the debacle / crisis like no other owing to the advent of
computerization will have enabled an obfuscating tool of
unprecedented proportion [worthless paper, huge frauds as already
extant], and a two-edged sword in the most negative sense
prospectively)
Momentum Book Update: The Market Is a Mess and the Long Bond Is
About to Break Out … Not only do us swing traders have to fight the urge
to chase price action up, but lay off the keyboard trying to catch falling
knives in the relative strength stocks which are holding up. If you tried to
buy support in your favorite names this week, you got your hands cut up.
I’ll continue to rely on the understanding of my own emotions as they have
served me well. When we opened higher on Monday morning I knew I was
in the right place, cash, as the market was just way overbought. If you
bought most relative strength names last week, by the end of this week you
were well underwater. So where do we go from here? I’ve got no clue, the
market is a mess, the charts are a mess, and the long bond is about to
break out. If that happens all bets are off, we could see an “event”. If the
smart money is lining up at the exits and moving into bonds, there’s a good
chance they see something coming down the pipe …
SUITING UP FOR A POST-DOLLAR WORLD John Browne ‘The global financial crisis is
playing out like a slow-moving, highly predicable stage play. In the current scene, Western
governments are caught between the demands of entitled welfare beneficiaries and the
anxiety of bondholders who fear they will be stuck with the bill. As the crisis reaches an
apex, prime ministers and presidents are forced into a Sophie's choice between social
unrest and bankruptcy. But with the "Club Med" economies set to fall like dominoes, the
US Treasury market is not yet acting the role we would have anticipated. Our argument
has always been that the US benefits from its reserve-currency status, allowing it to
accumulate unsustainable debts for an unusually long period without the immediate
repercussions of inflation or higher borrowing costs. But this false sense of security may
be setting us up for a truly monumental crash. There is fresh evidence that time is running
out for the dollar-centric global monetary order. In fact, central banks outside the US are
already making swift and discrete preparation for a post-dollar era.To begin, the People's
Bank of China has just this week decided to permit a wider trading range between the
yuan and the dollar. This is the first step toward ending the infernal yuan-dollar peg. While
the impetus behind this abrupt change remains a mystery, I have a sneaking suspicion
that, as my colleague Neeraj Chaudhary explained in his commentary last week, the
nationwide labor strikes were a prime motivator. In response to the 2008 credit crunch, the
Fed printed so many dollars that the People's Bank of China was forced to drive Chinese
inflation into double digits to maintain the peg. The pain has fallen on China's workers,
who have seen their wages stagnate while prices for everything from milk to apartments
have skyrocketed. This week's move indicates that, regardless of its own policy motives,
the Communist Party can no longer afford to keep pace with the dollar's devaluation. The
result will be a shift in wealth from America to China, which may trigger a long-anticipated
run on the dollar, while creating investment opportunities in China. Just days before
China's announcement, Russian President Dmitry Medvedev rattled his monetary sabre by
telling the press of his intention to lead the world toward a new monetary order based on a
broad basket of currencies. Giving strength to his claim, the Central Bank of Russia
announced that it would be adding Canadian and Australian dollars to its reserves for the
first time. Analysts suggest that the IMF may follow suit. While Russia floats in the limbo
between hopeless kleptocracy and emerging economy, it does possess vast natural
resources and a toe-hold in both Europe and Asia. In other words, it will be a strategically
important partner for China as it tries to cast off dollar hegemony. Speaking of Europe, the
major powers there are moving toward a post-dollar world by rejecting President Obama's
calls to jump on America's debt grenade. The prescriptions coming from Washington
translate loosely to: our airship is on fire, so why don't you light a candle under yours so
that we may crash and burn together. Given that dollar strength is largely seen as a
function of euro weakness (as Andrew Schiff discussed in our most recent newsletter,
debt troubles in the eurozone's fringe economies have created a distorted confidence in
the greenback. However, as you might imagine, Europe has higher priorities than being
America's fall guy. Led by an ever-bolder Germany, the European states are wisely
choosing not to throw themselves on our funeral pyre, but to wisely clean house in
anticipation of China's rise. In another ominous sign for the dollar, the Financial Times
reported Wednesday that after two decades as net sellers of gold, foreign central banks
have now become net buyers. What's more, more than half of central bank officials
surveyed by UBS didn't think the dollar would be the world's reserve in 2035. Among the
predicted replacements were Asian currencies and the euro, but - by far - the favorite was
gold. This is supported by Monday's revelation by the Saudi central bank that it had
covertly doubled its gold reserves, just about a year after China made a similar admission.
There is no reason to assume these are isolated incidents, or that the covert trade of
dollars for gold doesn't continue. To the contrary, this is compelling evidence that foreign
governments are outwardly supporting the status quo while quietly preparing for the
dollar's almost-inevitable devaluation. What people like Paul Krugman believe to be a
return to medieval economics may, in fact, be the wave of the future. In peacetime,
hardened troops will likely tolerate a blowhard general for an extended period; but when
the artillery opens up with live ordnance, an ineffectual leader risks rapid demotion. The
newspapers are now riddled with hints that foreign governments have lost faith in
Washington and the dollar reserve system. It seems to me only natural that after a century
of war, inflation, and socialism, the next hundred years would belong to those people who
hold the timeless values of hard money and fiscal prudence. Unfortunately, our
policymakers are not those people.’
Chart of the Day: Post-Mega Bear Rallies ‘ … The implication of this graph
is that, if the current market follows the two references, there is a risk
that the March, 2009 lows may be taken out … ‘ Three U.S. Banks
Collapse as Bond Street Holdings Acquires Another Lender
Regulators closed banks in Florida, Georgia and New Mexico,
awarding a third financial institution to Bond Street Holdings LLC, an
investment firm that first bought banks in January. States of Crisis
for 46 Governments Facing Greek-Style Deficits Californians don’t
see much evidence that the worst economic contraction since the
Great Depression is coming to an end. Unemployment was 12.4
percent in May, 2.7 percentage points higher than the national rate.
Obama Can Shut Down Internet For 4 Months Under New Emergency
Powers President Obama will be handed the power to shut down the
Internet for at least four months without Congressional oversight if
the Senate votes for the infamous Internet ‘kill switch’ bill, which was
approved by a key Senate committee yesterday. Toronto
Transformed Into Locked Down Police State Downtown Toronto has
been transformed into a police state ahead of the G8 and G20
conferences, with police given unprecedented powers to to arrest
anyone near the security zone who refuses to identify themselves or
agree to a police search. Police Taser 86-Year-Old Bedridden
Granny This is yet another example of how Tasers are nothing more
than 21st century cattle prods for roid-head coward cops who are
trained that the American people are their enemy. The Taser is not a
tool of law enforcement, it is a torture device employed to make the
scum public follow orders given by their jackbooted masters. [I
ordinarily do not report or second-guess difficult split-second
decisions by police in the life-threateningly dangerous, inherently
criminal american environment they’re constrained to operate in, but
this was a bit much and included only to indicate from my
perspective, ‘not everything goes’. I believe the crime stats in america,
which sports the highest crime rates in the world by far, are
substantially under-stated / under-reported]. Congressman
Rohrabacher: Almost All House Republicans Think Iraq War Illegal,
Immoral Andrew Napolitano’s new Saturday show on the Fox
Business Network is set to send shock waves through the political
establishment this weekend when his guest – Republican
Congressman Dana Rohrabacher – reveals that almost all House
Republicans now believe that the invasion of Iraq was not only a
mistake, but also illegal and immoral. New Financial Overhaul
Gives Government Broad New Powers To Seize Financial Firms The
government would have broad new powers to seize and wind down
large, failing financial firms and to oversee the $600 trillion derivatives
market. Israeli Leaders Sued in Belgium for War Crimes
Israeli Leaders Sued in Belgium for War Crimes Former Prime Minister
Ehud Olmert, Israeli opposition leader Tzipi Livni and Defense Minister
Ehud Barak were among those charged with war crimes committed
during the Gaza war in the winter of 2008-09, the French daily Le
Monde reported. Congress OKs sanctions on Iran’s energy, banks
Congress on Thursday approved tough new unilateral sanctions
aimed at squeezing Iran’s energy and banking sectors, which could
also hurt companies from other countries doing business with Tehran.
USF scientists find long line of oil 6 inches under the sand at
Pensacola Beach A trench dug by a group of USF geologists shows a
continuous layer of oil about six inches beneath the surface of
Pensacola Beach near Gulf Islands National Seashore. Venezuela
to nationalize U.S. firm’s oil rigs Venezuela will nationalize a fleet of
oil rigs belonging to U.S. company Helmerich and Payne, the latest
takeover in a push to socialism as President Hugo Chavez struggles
with lower oil output and a recession.
Drudgereport: NEARLY 2,000 PAGES: The legislation would redraw how
money flows through economy...
Government would have broad new powers to seize...
DODD: 'No one will know until this is actually in place how it works'...
Bank stocks soar … see new old opportunities for new old frauds ...
buzz aldrin wants to colonize Mars … Riiiiight buzzed! Better check with
DePalma to see if he already has the footage in the can since you won’t be
able to use the moon footage for the new boondoggle video ...
WSJNBCNEWS: Confidence Waning in Obama, U.S. Outlook...
SCARY OBAMA: 'VERY DIFFICULT CHOICES AHEAD' ON DEFICITS
CHICAGOLAND BOMBSHELL: Obama knew plot to trade Cabinet post for
appointing Jarrett to Senate -- Testimony...
Greece puts its islands up for sale in futile attempt to save economy...
DEUTSCHE BANK says US financial conditions are worse...
New home sales plunge 33%...
Record low...
CIA: AFGHAN PROGRESS 'SLOWER' THAN ANTICIPATED… Daaaaah! ...
GEN. PRAYFORUS
JUNE: DEADLIEST MONTH...
Obama doubles down on war...
New General, Old Strategy...
Russell: This Is One Of The Largest Tops In Stock Market History Richard
Russell has grown very vocally bearish in recent months. Earlier this
year, Russell warned that the stock market was once again becoming
grossly overvalued despite its relentless new highs. Pragmatic
Capitalism June 24, 2010 Richard Russell has grown very vocally
bearish in recent months. Earlier this year, Russell warned that the
stock market was once again becoming grossly overvalued despite its
relentless new highs. He has maintained that the bear market never
ended and that the world is far too indebted to exit the bear market.
He also believes the bear will not end until all fiat currencies have
failed. Although I disagree with him on many aspects of the micro I
agree with his larger macro outlook. This bear market is not over.
The secular bear market lives on. Mr. Russell thinks we might be on
the verge of a terrible collapse:
“We’re now in the process of building one of the largest tops in
stock market history. The result, I think, will be the most disastrous
bear market since the ‘30s, and maybe worse.
Question: “What could possibly be behind such a bear market?” you
ask. “The stock market is stirring up optimism on a weekly, if not daily
basis, by not falling apart.”
Answer: This is the “rest” or “dead zone” I was talking about. Bear
markets don’t conclude in a day, a week or a month. Months will go
by, often adding to the bulls’ optimism.I think the key element behind
this great bear market will be the complete destruction of all fiat
currencies. This has been a long time coming. Fiat currencies are
“wealth” created by man. They are created without sacrifice, without
labor, without risk, and without sweat. Basically they are an immoral
device, created by secretive bankers. If you watch the figures
carefully, you’ll note the subtle deterioration. For instance, the
advance-decline ratio, although up slightly for the week, had a
relatively weak performance with the Dow up several hundred points
over the course of the week. And we broke the trendline in May (see
the chart below showing the cumulative advance-decline line for
NYSE Common Stock only, which is what we publish in our figures
(courtesy of DecisionPoint — www.decisionpoint.com). The vertical
lines are Jan 2008, Jan 2009 and Jan 2010 as you move to the right on
the chart. [CHART] My old friend, Bob Prechter, is talking about Dow
400. I used to think this was an absurd joke. I no longer think it’s a
joke. The ultimate result will be a primary bear market shocking in
duration and extent. …’
Reports: IAF Landed at Saudi Base, US Troops near Iran Border Arutz
Sheva | The Israeli Air Force recently unloaded military equipment at a
Saudi Arabia base, a semi-official Iranian news agency claimed
Wednesday. It’s time for the world to take a close look at the despotic,
totalitarian regime that presently exists for the grandeur and wealth of a
few while hiding behind Islam as they betray same and Muslims
everywhere. The time has come for regime change in Saudi Arabia to yield
a nation of and for the people of Saudi Arabia and the glory of Islam.
[It should be noted, and there have been a multitude of other instances,
that I’m getting substantial ‘attacks’ vis-à-vis my internet connection
which has slowed dramatically these posts. I don’t think the
interference is either accidental or just coincidental but consistent
with that similarly experienced by critics of corrupt defacto bankrupt
america of which I am one and not alone in that regard – slowing,
militating against the devastating truth about america. It should be
noted that yet another attempt by the criminal american government
and related partners in crime to silence an unwavering critic (to really
understand america is to not be able to stand pervasively corrupt and
defacto bankrupt america and her failed criminal cohort nations /
lapdogs, ie., uk, eu, israel, etc.), in contravention of first amendment
rights / protections, and as in the RICO case [
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpe
naltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ] to
cover up substantial crimes in which the government was / is also
involved. Some delays but a work-around is in progress. I won’t forget
this and a price will be paid, as continues to be true. (6-22-10)THE
WORK-AROUND-IN-PROGRESS I ALLUDED TO IS NOW FOR THE
MOST PART SUCCESSFULLY COMPLETED BY WAY OF A DSL
CONNECTION AND A DELL COMPUTER.]
Cases against Wall Street lag despite Holder’s vows to target financial
fraud Washington Post | Obama has promised to hold Wall Street
accountable for the meltdown. Drudgereport: States Take Aim at
Pension Costs... ...Bank failure pace more than double last year
REPORT: Madoff tells cellmates of $9 billion stash... they all have
them … Cases against Wall Street lag despite Holder’s vows to target
financial fraud THOMAS SOWELL: Is USA Now On Slippery Slope
To Tyranny?
When will the SEC prosecute for market rigging? Michael Schmidt | Are the
large gold bullion banks working in collusion with the US Federal
Reserve to artificially torpedo the key rival to US dollar hegemony?
China To Overtake USA In Manufacturing FT | The US remained the
world’s biggest manufacturing nation by output last year, but is
poised to relinquish this slot in 2011 to China – thus ending a 110-year
run as the number one country in factory production.
Connecticut vegetable lieberman: China Can Shut Down The Internet, Why
Can’t We … (great logic from a totalitarian zionist)? Senator joe Zelig the
zionist israeli lieberman, co-author of a bill that would give President
Obama a ‘kill switch’ to shut down parts of the Internet, attempted to
reassure CNN viewers yesterday that concerns about the government
regulating free speech on the web were overblown, but he only stoked
more alarm by citing China, a country that censors all online dissent
against the state, as the model to which American should compare itself.
Mexican drug cartel threatens to harm U.S. police officers who bust drug
shipments while off-duty New York Daily News | Mexican cartels added
a new twist to the drug war this week by threatening to kill U.S. cops
who seize their goods. Former Israeli top spy calls for strike on Iran
Israel should launch a pre-emptive strike to prevent arch-foe Iran from
going nuclear, a former head of Israel’s Mossad intelligence agency
said on Monday. Israel’s Planned Attack on Iran from Caucasus
Base A week ago, Israel leaked to the press that they had permission
from Saudi Arabia to use their air space to attack Iran. The Saudi’s
quickly denied this.
$34 Billion Asset Manager Says Market Prices Are Manipulated, Accuses
NYSE Of Intellectual Property Theft, Debunks HFT “Liquidity Provider”
Lies As part of the SEC’s process to fix the broken market, it is
currently soliciting public feedback on a variety of issues. Why it is
doing so, we don’t know – after all anything that does not conform to
the SEC’s preconception of what the most lucrative market to the
SEC’s recent batch of clients (see earlier news about an SEC director
going to HFT specialist Getco) is, just ends up in the shredder anyway
Soros Says ‘We Have Just Entered Act II’ of Crisis Bloomberg | Soros said
the current situation in the world economy is “eerily” reminiscent of the
1930s. Gerald Celente: U.S. Financial Markets to Collapse by End of 2010
Infowars.com | Gerald Celente is a renowned trend forecaster, publisher of
the Trends Journal, business consultant and author who makes
predictions about the global financial markets and other events of
historical importance. Jobless Claims in U.S. Decreased Last Week to
456,000 Bloomberg | More Americans than anticipated filed applications for
unemployment benefits last week.
Greek Default Seen by Almost 75% in Poll Doubtful About Trichet Global
investors have little confidence in Europe’s efforts to contain its debt crisis
or in European Central Bank President Jean-Claude Trichet, with 73
percent calling a default by Greece likely. 12 Reasons Why The U.S.
Housing Crash Is Far From Over Over the past several months, many in
the mainstream media have hailed the slight improvement in the U.S. real
estate market as a “housing recovery”. US Needs Austerity Too: Hedge
Fund Strategist The United States will have to adopt austerity measures
similar to the ones taken in Europe, because the problems faced are largely
the same, Timothy Scala, macro-strategist at Sophis Investments, told
CNBC.com. Market Analyst: ‘BP’s Not Going to Last as a Company
More Than a Matter of Months’ We’ve heard politicians, even conservative
Republicans, suggest BP would be held completely responsible for the
devastation caused by the oil spill plaguing the Gulf of Mexico, even if it
means its very existence.
Why To Question the 2010 Stock Market Rally [Why To Question the 2010
Stock Market Rally – Web Site Archived with Charts Click Here - In the
past year, we've written a lot about the similarity between the rally of
early 1930 and the one we had through April of this year. The early
1930 rally came after the market had fallen nearly 50% in the fall of
1929. The spring 1930 rally took the market up nearly 50% again, to a
level that was only about 20% below the previous peak. That rally, of
course, was also the biggest sucker's rally in history. After the market
peaked in April 1930, it crashed again, eventually ending up down 89%
from the 1929 high and more than 80% from the 1930 high. The market
did not reach the 1930 high again for another quarter of a century. The rally
that recently ended in April 2010 came after a crash that was actually
slightly more severe than the 1929 crash (53% versus 48%). It took the
market up nearly 80% from the low! The recent rally also lasted longer
than the 1930 rally did--a year, as opposed to 6 months … ]
REMEMBER: In 1930, They Didn’t Know It Was “The Great Depression” Yet
In the past year, we’ve written a lot about the similarity between the
rally of early 1930 and the one we had through April of this year.
Investment Banker: It’s Going To Get Nasty – Buy Land, Barbed Wire
And Guns A top investment banker has warned that the economic
fallout of the sovereign debt crisis could get so nasty over the next
five years that people would be wise to abandon the markets and
instead buy land, barbed wire and guns.
‘What Does China Want?’ They want to speak to Rosanne Rosanna Danna,
of course! ‘Asian markets tumble on fears over Hungary’ …Riiiiight!
Hungary’s the thing! … Rosanne Rosanna Danna, formerly of SNL fame
wanted in Asia to chime in with what her mama always used to say, ‘ It’s
always something ‘ . Of course, it matters little to the frauds on wall street
what the something is said to be since the reality is … ‘This is a global
depression. This is a secular bear market in a global depression. This was
a manipulated bull (s***) cycle in a secular bear market. This has been a
typically manipulated bubble as has preceded the prior crashes with great
regularity that the wall street frauds and insiders commission and sell into.
This is a typical wall street churn and earn pass the hot potato scam / fraud
as in prior crashes.’ ( It should be noted, and there have been a multitude
of other instances, that I’m getting substantial ‘attacks’ vis-à-vis my
internet connection which has slowed dramatically these posts. I don’t
think the interference is either accidental nor just coincidental but
consistent with corrupt defacto bankrupt america’s critics of which I am
one and not alone in that regard – slowing, militating against the
devastating truth about america.) Europe is Heading for a Depression
Despite a nearly-$1 trillion rescue operation, financial conditions in the
eurozone continue to deteriorate. All the gauges of market stress are
edging upwards and credit default swaps (CDS) spreads have widened to
levels not seen since the weekend of the emergency euro-summit. Key
Indicators of a New Depression With the mainstream media focusing on the
country’s leveling unemployment rate, improving retail sales, and nascent
housing recovery, one might think that the US government has
successfully navigated the economy through recession and growth has
returned. Get Ready for a Double Dip … but many warning flags point
towards significant deterioration in the U.S. and global economy going
forward and so I think that by the end of the year or early 2011, we could
very well be facing a new leg down in the world’s economic situation … [I’d
say too optimistic since, to reiterate: This is a global depression. This is a
secular bear market in a global depression. This was a manipulated bull
(s***) cycle in a secular bear market. This has been a typically manipulated
bubble as has preceded the prior crashes with great regularity that the wall
street frauds and insiders commission and sell into. This is a typical wall
street churn and earn pass the hot potato scam / fraud as in prior crashes.]
The Worst Money Supply Plunge Since The Depression Means A Double
Dip Is Now A ‘Virtual Certainty’ The stock of U.S. money as measured by
‘M3′ money supply fell to $13.9 trillion from $14.2 trillion during the three
months ending in April. [ This is still an extraordinarily high level but … I
don’t buy it. I believe the printing presses have been working overtime to
pump out ever more worthless fiat currency and with the many trillions of
worthless fraudulent paper still out there and marked to anything. I further
believe the same is being surreptitiously used to supplant the fraudulent
paper, the consequences of which will be devastating, of course, as is
invariably so in depressions in any event. This scenario would also mean
huge fraud accomplis. ] Fiat Money Supply Contracting at Great
Depression Level The bankster operative who helped destroy Glass-
Steagall is back. Larry Summers, Obama’s top economic adviser, has told
Congress to “grit its teeth” and approve a fresh fiscal boost of $200 billion
to keep growth on track, reports the Daily Telegraph. Fiat Money Supply
Contracting at Great Depression Level Kurt Nimmo | The Federal Reserve
stopped publishing M3 figures back in 2006.
Sell in May and Go Away, Indeed [ I wasn’t kidding; and, I’m still not
kidding when I say: This is a great opportunity to sell / take profits
because there’s much worse to come! ]
The frauds on wall street et als should be criminally prosecuted, jailed, and
disgorgement imposed. If that were so, they wouldn’t be worrying about
who wins / loses since those who fraudulently play, invariably would (and
should) pay. If they’re not prosecuted, everyone loses.
POST MORTEM AND REVIEW Ricky:
A post mortem is in order. The elements of this worldwide con game are
remarkably simple, not complex at all. Apparently you only need a few
things to make a mockery of the entire global economic system, and big
banks garnered these few important things through “regulatory capture”:
1) Unregulated, unenforced rules (particularly for derivatives)
2) license to “mark to model” (assign your own values to your assets)
3) ability to peg present value to irrational expected future returns (based
on unlimited, exponential growth)
4) infinite leverage (no effective requirements for reserve capital in
unregulated “shadow” markets)
5) massive size, so that the bank is "too big to fail"
6) non-transparency and non-accountability.
THE FORECASTS:
Harry Dent, Jr. Economy will be in a Depression by 2011
The worst of this next depression is likely to hit between mid-2010 and mid-
2013, especially around early 2011, but if the banking system continues to
implode a deep downturn or depression could begin sometime in 2009
instead of 2010.
Dow will Fall to 3,800 – 4,500 by 2012
Nasdaq will Fall Below 1,100, its 2002 low, by late 2010 or mid-2012 at the
latest.
Inflation will Increase until mid- 2010 and then turn to Deflation
Interest Rates will Increase
U.S. Dollar will Decline
Housing will Decline by 40 – 60% from Today’s Levels
Greatest Economic and Banking Crisis since the 1930s will Occur Between
2010 and 2012
Russell Napier is the author of the book “Anatomy of the Bear”, a professor
at the Edinburgh Business School and a consultant to CLSA Ltd. which is
one of the top research houses in Asia. Napier’s research indicates (and I
paraphrase) that: The S&P 500 will Decline to 400 by 2014 (the Dow 30 to
3800)
The S&P 500 will then undergo a major crash that will see U.S. equity prices
bottom at almost 50% below current levels (i.e. to 400 or less; the Dow 30
to 3800 or less) sometime around 2014 as Tobin’s “q” drops to 0.3
signaling the end of the bear market, as it has done at the end of the four
largest U.S. market declines in 1921, 1932, 1949 and 1982.
U.S. Treasury Sales Collapse Leading to End of U.S. Dollar as Reserve
Currency
Robert R. Prechter Jr. is author of a number of newsletters and books
including “Elliott Wave Principle” (1978) in which he predicted the super
bull market of the 1980s; “At the Crest of the Tidal Wave – A Forecast of the
Great Bear Market” (1995) in which he predicted a slow motion economic
earthquake, brought about by a great asset mania, that would register 11
on the financial Richter scale causing a collapse of historic proportions;
and “Conquer the Crash: You can Survive and Prosper in a Deflationary
Depression” (2002) in which he described the economic cataclysm that we
are just beginning to experience and advised how to position one’s self
financially during that period of time.
Depression is Imminent
The Dow Jones Industrial Average will go down to at least 1000, most likely
to below 777 which was the starting point of its mania back in August 1982,
and quite likely drop below 400 at one or more times during the bear
market.
Click here to see the Debt Clock, which is updated every second.
http://www.albertpeia.com/wallstreetlunacy2ndqtr10108.htm
(Previously) I’d say this alito vs. wobama is a tempest in a teapot inasmuch
as alito is more than just a lightweight, hack, liar, fraud etc., as set forth in
the comments. alito is a criminal who should have served / should be
serving time in prison for obstruction of justice, bribery, among other RICO
violations. To alito, drug money is as green as corporate money and worth
his vote as well. In addition to being an inept [I looked in on the one mob
case he had brought, bungled, lost (accidently on purpose?) since I was
suing some mob-connected under RICO and the court (I had known /
previously met outside of court the judge Ackerman through a client) was
absolute bedlam and a total joke since incompetent corrupt alito brought in
all 20 mob defendants (rather than prosecute one or a few to flip them first)
who feigning illness had beds/cots in the courtroom along with their moans
during testimony and had the jury in stitches)] and corrupt (see below and
particularly the summary provided to the FBI under penalty of perjury [
http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenalty
ofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ] ) u.s.
attorney.
You’re naïve to think that the so-called supreme court is any different from
the rest of the meaningfully lawless and pervasively corrupt american
‘system’. I knew well an accomplished trial lawyer, fellow american college
of trial lawyers / and a bar examiner, who pondered from time to time
becoming a judge “so he’d never have to work again” – his words.
-----------------------
the loser here is alito.lost his composure not good for a judge especially
afederal or supreme justice .loser big time this will live with guy for a very
time.roberts and the other justices will have a talk with him that is a
given.this relly larger than o one day news cycle.
Posted by: donaldtucker | January 28, 2010 1:12 AM |
Ron Paul: After ‘CIA coup,’ agency ‘runs military’ US House Rep. Ron Paul
says the CIA has has in effect carried out a “coup” against the US
government, and the intelligence agency needs to be “taken out.” I
also personally believe there has been a defacto coup d’etat which
has manifested in various substantial, blatant, brazened frauds, ie.,
wall street, missing 360 tons of $100 bills in Iraq, war profiteering, etc.,
without any fear of prosecution, and of course concomitant decline for
u.s. as the treasury is looted. But I also believe its scope is beyond
just the CIA with many complicit within the corrupted 3 branches of
u.s. government (fed judges, us attorneys, illegal system, etc.) plus
the military and private big money, ie., Goldman Sachs / wall street
men, etc., among other organized crime. america is defacto bankrupt
in every way!
Rendition: Where the War on Terror Meets the War on Drugs Patrick
Henningsen | It’s time to ditch the policies we have come to tolerate for
decades before they consume what is left of our moral core. I’ve
experienced the corrupt inter-relationship of the government (all 3
corrupt branches) and the illegal drug trade / obstruction of justice /
bribery first hand, particularly the courts / u.s. attorneys offices (ie.,
alito – now u.s. supreme court justice – quid pro quo for his
complicity / cover-up), feds; see immediately after article excerpt for
links / summary.
[ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenalt
yofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ].
america’s just a fraudulent and failed defacto bankrupt nation.
There must be such things as parallel universes (I don’t really believe that,
because there isn’t) or how else do you explain the disconnect
between reality, current and prospective, and the wet dreams posited
to keep the war funding / corporate welfare programs alive in
collectively what has already become a trillion dollar boondoggle (not
counting prospective medical costs, etc.) and promises to go much
higher. Even israel apologist Cohen of The Washington Post alludes
to the Vietnam analogy. However, even if there were real goals beyond
the poppy / heroin trade which the Taliban had all but eradicated
(there isn’t); even if america wasn’t defacto bankrupt (america is);
even if america wasn’t killing innocent civilians in large numbers (war
criminal nation america is); even if america’s allies haven’t similarly
helped to bankrupt themselves by way of this war (they have); even if I
hadn’t told you so (I did) ….. this war still was, is, and remains a very
bad idea!
How does anyone take the u.s. seriously in light of their credibility
problems, war crimes, etc.? What nuke technology israel didn’t steal
from the u.s., the u.s. gave them along with missile, armaments, etc..
and paid for with taxpayer money that u.s. taxpayers and the defacto
bankrupt nation don’t have.
It's time to expel israel from the UN Without doubt, the israeli attack on the
Gaza-bound "Freedom Flotilla" in the dawn of Monday, May 31, 2010 is
one of the most savage crimes in recent history. It seems the ruling
power in Tel Aviv has been afflicted with a variant of mad cow
disease; otherwise, how could it be so cruel to unleash such a beastly
raid on the "Mavi Marmara," the Turkish flagship of a flotilla carrying
medical and humanitarian supplies to the hapless people of Gaza
Strip?
You think Iraq was bad? Invading Iran ‘would be lunacy’ Ivan Eland,
Director of the Center on Peace and Liberty at the Independent
Institute in Washington DC, gives his opinion on new sanctions
imposed on Iran.
Glen Reply:
June 11th, 2010 at 6:47 am
Lunacy it would be.
But it is also to their great credit that the Iranians have not made their own
threats.
Everyone knows there are 3 WMD threats, Nuclear Biological and chemical.
The scariest of which is Biological.
Any attack done under the threat of immediate biological retaliation would
deter only the insane.
Watch out america home of the insane, home of the leaders who want an
80% population reduction.
General McChrystal’s Burning Contempt for the Puppet Obama The farce
that is the war in Afghanistan is coming apart at the seams. General
Stanley McChrystal’s sharp comments about Obama, Biden, and the
administration published by Rolling Stone are not so much about
disrespect, as the script-reading corporate media talking heads would
have it, but rather about a policy in disarray in Afghanistan.
Launch of secret US space ship masks even more secret launch of new
weapon
buzz aldrin wants to colonize Mars … Riiiiight buzzed! Better check with
DePalma to see if he already has the footage in the can since you
won’t be able to use the moon footage for the new boondoggle
video ...
http://www.albertpeia.com/UFOetryWeNeverWentToTheMoonPNTV.wmv
War in Afghanistan and Iraq costs America $1trillion From the Old | On May
30th at 10:06 the United States reached the point where they have
spent $1trillion on the wars in Afghanistan and Iraq. Sinking of the
Cheonan: A Classic False Flag Operation Russia Today | Sinking of
the warship was really intended to convince Japan not to move US
forces off Okinawa as well as divert the attention of Americans from
the dire economic situation at home. . Israel: IDF Troops Who
Murdered Unarmed Innocent People Are ‘Brave Heroes’ The
government of israel, aided by many quarters of the international
media, is attempting to spin today’s deadly IDF assault on a
humanitarian aid ship carrying supplies to Gaza as the fault of the
murdered activists on board the vessel, ludicrously characterizing
machine-gun carrying Israeli troops who killed over a dozen innocent
people as the victims of the incident.
Murder on the high seas JERUSALEM: Israeli marines stormed aid ships
bound for Gaza on Monday and at least 10 rights activists were killed,
triggering a diplomatic crisis and an emergency session of the UN
Security Council. European nations, as well as the United Nations and
Turkey, voiced shock and outrage at the bloody end to the
international campaigners' bid to break Israel's blockade of the Gaza
Strip
"What this means is that Neanderthals are not totally extinct. In some of us,
they live on," Paabo … With regard to that extinction thing, I’d say
they’re still working on it (ultimately, decades, extinction, the
distinction, without a difference). Actually, prior to studying the
compelling subject of Biological Anthropology (Michael Park text), I
too had some misconceptions about the group known as Neandertals
(recent spelling drops the ‘h’) and actually mis-referenced same by the
stereotypical image of members of said clade even as the debate
continues as to whether they are within the species homo sapiens or a
separate species. I believe these to be distinctions without important
differences, so humble the origins and evolution of man truly are.
Parenthetically, I wonder what that anthropological scientist Heidi
Klum thinks on the subject.
Previously I wrote:
FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and
the many like it, are old news and I subscribe to the more studied view
that there is no “missing link” per se and in my view they are
distinctions without significant differences. I previously wrote:
To Learn More About From Whence Man Came, This Link's For You
Seeing Aliens Will Likely Take Centuries. Centuries? Not goin’ to happen;
at best, decades.