THE PORNOGRAPHY OF WAR....?

Why the blacked out faces....? Why return our war heros in the darkness of night? With blacked out faces on the "honor gaurd." What a horrible shame on the Bush Administration!

HOW FAKE IS THE 'NEW GOVERNMENT' IN IRAQ?

Says Maureen Dowd in the NYTimes;

"Ahmad Chalabi - convicted embezzler in Jordan, suspected Iranian spy, double-crosser of America, purveyor of phony war-instigating intelligence - is the new acting Iraqi oil minister."

COULD THE INSURGENCY REALLY BE PROOF THAT THE "NEW GOVERNMENT" IS A FRAUD AND WILL NEVER BE ABLE TO GOVERN IN IRAQ?

OF COURSE!

It is no secret that NOTHING CAN HAPPEN in Iraq WITHOUT clearance from the US Embassy in the Green Zone..... And Chalabi rode in with the Americans and could be "the devil we know," or just the devil we unleashed.

But, the US will NEVER be able to govern Iraq, (with or without puppets and fellow travelers), FROM INSIDE THE GREEN ZONE.

For the most part the current GOVERNMENT OF EXILES is seen as illegitimate by many Iraqis. And I seriously doubt that ANY real government WILL BE established while the US occupation continues.

THE US PRESENCE TAINTS EVERYTHING...AS ANYONE WOULD SUSPECT.

But of course we can't leave, because we're really there to "protect" the oil fields.....not to "protect women's rights."

Yes.....there will be "talks" and "meetings," but nothing will be done unless and until REAL IRAQIS are running the day to day affairs of the country.

And alas, these are now, more or less, the local militias and/or the local clerics...Shia, Sunni and Kurd.

CHALABI AT THE OIL MINISTRY IS MERELY A "RED FLAG" HIGHLIGHTING THE NOTION THAT THIS "ELECTED GOVERNMENT" IN IRAQ WILL NEVER GOVERN. IT'S A BAD JOKE REALLY.

Get used to this...and a lot of "what comes next" will seem more believable.......

THE TIME TO MEANS TEST IS NOW! NEW NEW DEAL LOOMS!

Says John Tierney in the NYTimes:

"As a poverty-fighting program, Social Security is woefully inefficient because most of the money goes to people who aren't poor."

THE TIME TO MEANS TEST SOCIAL SECURITY IS NOW....

There are a few other changes to be made as well. First, Drop the Lock Box nonsense....Social Security is (1) A TAX. (2) AN INSURANCE PROGRAM FUNDED BY THE TAX.

There is NO ACCOUNT WITH YOUR NAME ON IT....THERE NEVER WAS.

IF YOU WANT "THAT" GO TO YOUR BANK OR YOUR BROKER...AND SET UP AN ACCOUNT...."WITH YOUR NAME ON IT."

SOCIAL SECURITY ISN'T!

And while we are "truth telling" it may be time to talk about a GAURANTEED ANNUAL INCOME for Americans working in low wage no benefit jobs....

And we need NATIONAL HEALTH CARE so Ford, GM, etal....can compete with CANADA...AND CHINA! I know that Wall Street HATES unionized manufacturers....but that doesn't mean they're right.

IF BUSH WANTS TO REALLY ACCOMPLISH SOMETHING HE SHOULD PUT EVERYTHING ON THE TABLE.....WHAT IS THE AMERICAN ECONOMY GOING TO LOOK LIKE IN THE 21ST CENTURY...DO THE RICH TAKE IT ALL...AND EVERYONE ELSE SLAVES FOR NOTHING?

It's time to either drop the FREE TRADE NONSENSE...or get serious about what free trade is doing to the US economy.....BEFORE THINGS GET REALLY SERIOUS.

SPIN, HYPE AND BRIBED POLITICIANS NEED TO THE PUT ON THE BACK BURNER FOR A WHILE....

UNTIL WE CAN FIGURE OUT A "NEW NEW DEAL."

HEY, PECKER....part 2

Dubya's RARA AVIS prime time news conference could have been called:

CLUELESS ON THE POTOMAC!

Clearly, Dubya is a slow learner. His disasterous policy and politics will continue even unto taking the country into a serious depression.

The War in Iraq is UNWINNABLE. The Dollar is a disaster. The trade deficit is sucking jobs out of the US economy monthly...despite what Friedman and the free trade shills stupidly proclaim.

The balance of Dubya's term really is starting to look like a Slow-motion Train Wreck for America and Americans..... His only hope? Jesus!

But will Jesus fill my gas tank....? In rural and suburban areas many people are now talking about the "cost" of a trip. Going to X? Well that's will cost $9 in gas! Get the picture....we NEVER did that before.

And if you drive on the highways....NOBODY IS DOWNSIZING THEIR VEHICLES! MOST CARS AND TRUCKS ON THE AMERICA HIGHWAY TODAY ARE LARGE, OR HUGE! WHAT MUST THESE FOLKS BE PAYING AT THE PUMP.....

I personally drive a 6 cylinder everyday....but I also have a 4 cylinder Toyota Truck and I'm going to make the which THIS WEEK! WHY FEED 6 CYLINDER WHEN YOU CAN FEED ONLY 4 AND STILL GET THERE.....?

BEFORE THE END OF THE SECOND BUSH TERM....RED STATE BUBBAS WILL BE ON THEIR KNEES!

BUT IT WILL BE THE ECONOMY, NOT JESUS, THAT PUTS THEM THERE.

MARKETS: HAPPY TALK AND GLOOM

The markets have been performing as predicted on this page....a mix of happy talk and gloom with a slow, (so far) downward trend.

Basically, every "rally" is a selling opportunity that should not be ignored. Rates are going up and going up substantially, no matter what the Bank of China does!

The house bubble will burst before the end of this year. And jobs will be punk or even down as the year progresses....where's the beef? It's just not there....except in the spin of the pundits and shills.

HAPPY TALK WILL NOT SAVE THIS MARKET......THE NUMBERS WILL OUT EVENTUALLY.

ONCE DOW 10,000 IS BREACHED THIS TIME IT COULD BE 5 YEARS OR MORE BEFORE IT'S RE-VISITED. WHY?

BECAUSE BY THEN THE G-MAN WILL HAVE TO HOLD RATES HIGH FOR A PROLONGED PERIOD TO DETOX THE ECONOMY FROM THE HYPER=LIQUIDITY EXPERIMENT THAT HAS NOW ENDED BADLY....AT THE GAS PUMP!

WILL IRAQ ALWAYS BE A US PUPPET....?

That of course is what's fueling the insurgency....no one truly believes that the current Iraqi government is REALLY FREE. Rather, it is understood, sub rosa, that the current government "gets it's instructions" from the US Embassy in Baghdad.

SOLVE THAT LITTLE CUNUNDRUM AND YOU BEAT THE INSURGENTS.....

BUT ALAS, IT'S UNSOLVABLE SINCE THE REASON THAT DUBYA AND THE NEOCONS WENT INTO IRAQ WAS TO CONTROL IT, AND THE OIL FIELDS OF THE MIDDLE EAST...

IT'S A CATCH-22 REALLY.....BUT ONE THING YOU CAN BE ABSOLUTELY SURE OF IS THAT THE CURRENT OCCUPATION AND "ITS GOVERNMENT" WILL NEVER BE ACCEPTED IN IRAQ....OR ON THE ARAB STREET GENERALLY.

Meantime the counter keeps on turning....$300 Billion and going up everyday!

So forget about health care! American corporations had just better continue their exodus! THERE IS NO END IN SIGHT......

THE IMPOVERISHMENT OF NATIONS, or FRIEDMAN'S FALLACY

Says Friedman re: Comparative Advantage:

"They argue that comparative advantage today is moving faster than ever from structural factors, like natural resources, to how quickly a country builds its distinctive talents for innovation and entrepreneurship - the only sustainable edge."

WHAT FRIEDMAN MISSES IS THE ENTIRE HISTORY OF TARIFFS AND THE REASONING BEHIND TARIFFS..... FREE TRADE WAS "KNOWN" IN THE ANCIENT WORLD...AND IT WAS REJECTED!!

HOW SO?

CHEAP LABOR, DESKILLING AND FEAR OF "THEFT OF TECHNOLOGY" (IE DIFUSION) HAS BEEN AROUND FOR MILLENIA! TRANSFERING TECHNOLOGY OUT OF THE COUNTRY WAS A SURE DEATH SENTENCE IN MOST KEY NATIONS OF THE WORLD.

This "Globalism Thing" is NOT NEW!! It's been around ever since Mesopotamia was estabilished.

Globalism been around since ancient Egypt and Imperial Rome. Tariffs were used in the Middle Ages...and price controls were used domestically to limit competition on everything..including the price of Bread in London and Paris.

THE POINT IS THAT PROTECTIONISM IS A VALID PUBLIC POLICY! AND THE DISASTEROUS CONSEQUENCES OF "FREE TRADE OR ELSE" IS SEEN EVERYDAY IN THE "MACRO-NUMBERS" THAT COME OUT ON THE STATE OF THE US ECONOMY......

FRIEDMAN'S FALLACY IS ONLY MAKING MATTERS WORSE....AND HE IS PLAYING INTO THE HANDS OF THE MULTI-NATIONAL GREED-MONGERS THAT HAVE TAKEN OVER THE US ECONOMY AND ARE LOOTING IT TO THE BONE....

Now, don't just take my word for this....STUDY THE HISTORY OF TRADE...AND THE HISTORY OF TARIFFS.

THIS ENTIRE FREE TRADE NONSENSE COMES FROM ONE PLACE, ADAM SMITH'S BOOK THE WEALTH OF NATIONS... AND THAT BOOK IS WRONG AND DANGEROUSLY OUT OF DATE.....

CHEAP LABOR SHOULD NEVER, NEVER BE ALLOWED TO TRUMP THE WEALTH OF THE NATION UNDER ANY CIRCUMSTANCES....

OPERA: BETTER THAN IE?

If you are looking for an alternative to Microsoft IE, the browser offered by Opera is a good bet.

I use Firefox and Opera almost exclusively....IE is merely a backup for me. The IE proneness to popups and spyware is also a consideration...

Click the link and try Opera for a change....and perhaps a more efficient way to surf the net. And it's FREE.....

THE SIDE BAR IS OPEN: ALL YOU CAN EAT!

Viewers of this Blog are urged to consider the links in the "side bar" to the right of the daily content on this page.

Unlike most blogs the Gloom and Doom side bar is NOT merely links to other boring blogs...most of which are defunct or uninteresting.

The only blogs listed in our side bar are the key blogs that are important reading for anyone interested in the cutting edge blogosphere.

Additionally, the news and information links are important...and mostly "outside the box. "

There are links to the major foreign news sources...and for mostly these links DO NOT require a sign in password..... and are IN ENGLISH.....

THERE ARE NO ADVERTS ON THIS BLOG....PERIOD.

And every link in the side bar is pre-screened for its usefulness and unique timely content.

The Chess game link, for example, is an excellent way to "re-play" old master games in fast time to see the big ideas and essential strategies at work. A great diversion for the strategic thinker in business or otherwise.....

This blog is done in Firefox with full Java capabilities....but I do review all content in IE as well......

SO, THE SIDE BAR IS OPEN!

AND IT'S ALL YOU CAN EAT.......

HAPPY DAYS ARE QUEER AGAIN...!

Guess what there is LESS air polltion now...see title link.

And FAT PEOPLE live longer than thin people....!

Better yet, FEWER people are uninsured than priviously reported!

And CEOs don't need SOX to keep them honest! Even if the GAPP Gap is Back!

HAS THE CAMPAIGN OF DIS-INFORMATION FINALLY BEGUN INSIDE THE US..? ARE HAPPY DAYS QUEER AGAIN.....?

YO YO MA...KETS FLOUNDER AGAIN.

It's all over on Wall Street....now just how long will it take for the "old ways" to finally expire?

Well, perhaps things can levitate for a while longer...but only a total sucker would linger in this house of cards.

Bank CDs are paying 3% +/- in most regions for 6 month to 18 month certificates. That is what mom and pop should be looking at.... Exactly how the dynamics of the dollar/rates/bonds/gas and stocks plays out is anyones guess...short term.

But, the long term argument for stocks is finished.

Combine that with the fact that US Corportions are among the worst managed in the world because of the GAPP GAP.

....the only thing US companies do well is downsize and give up market share these days.

The final result is not in question....only the timing is up for grabs now.

HEY, PECKER!

Rara Avis....they try harder!

WHY PUTIN IS RIGHT...or THE DECLINE OF THE BI-POLAR WORLD

David Brooks says in the NYTimes today regarding the collapse of Russia:

"This is what we're seeing in Russia. It's probably what we would be seeing in Iraq even if the insurgency were under control. And most frighteningly, it could be what we will be seeing in China for decades to come."

If the decline in Russia were only demographic that would be solvable.

But what Putin was really commenting on was the "tribalization" of the Euroasian continent.

Clearly, the Age of the Great Powers is over...and the Age of Nationalism and Tribalism is back.

Back, alas, because we have been here before...in the 1930's!

The rise of racism and clanism is rampant in many parts of the world since the end of the cold war. In Africa. In Latin America....the rise of leftist nationalism is obvious.

In the near east and in the old USSR "stans" "orange revolutions" are a two edged sword....

In the Balkans...the first wave of regional chaos is still unresolved.
Indeed, Kosovo may yet be Europes Chechnya?

Now in Iraq we see clanism and nationalism combining in a toxic brew...

What Putin was referring to is the rise of the ultra-right since the collapse of the bi-polar world. The economic collapse is merely a symptom of this larger disease....

And Putin may be right about the coming Chaos....we see it everyday.

WE'RE NOT IN KANSAS ANYMORE....!

Are "collectibles" the new investment hottie.....?

CAN THE NEW IRAQI GOVERNMENT EVER WORK...?

It's possible that NO government will work as long as Iraq is occupied by US troops.....? Any new government will be seen as puppets merely by association with the American occupation.

EURO AND UK CONSUMERS PULL BACK...

American durables down..... Weaker market seems inevitable. Spring plunge arrives?

REPLY TO FRIEDMAN: NO MORE BUSH DEMENTIA.....

I assumed that Tom Friedman in today's NYTimes was trying to write a "humorous" column today, while he figures out what the Israeli lobby wants him to say next....? Because the less said about the West Bank and Gaza the better, these days. But alas, that is not an option if you have a weekly column to write!

In any event, we will be lucky to get through Bush 43, term 2.

So bringing back 41 now would be way too much Bush dementia in high places to be healthy.

What Dubya does need is someone to keep the UN quiet and on the defensive, while Dubya and Sharon figure out how to deal with their two "illegal occupations"

.....WITHOUT ending up at The Hague with Slobo and the others. Remember some in foreign lands are already talking about going after Rummy for war crimes.

So, its more about telling the UN to just shut up....than it is about "reforming" it or shutting it down. Bush needs someone to give the UN the "Kerry Treatment." Because constant attacks are often the best defense....as Rovian Republicans all know.

HOUSING BUBBLE AND THE DOLLAR RALLY

The dollar rally of late coupled with the red hot new home market IMPLY that the Fed will now be ready to go 50 bp and abandon the "measured pace" scenario.

Will Greenspan have the "guts" to hit Wall Street with a 1/2 point rate hike as in days of old?

Surely, the dollar drop is behind the run up in gas prices.

And now the run up in the dollar is caused by the red hot house bubble that is still unfazed by the Feds efforts so far.......

The US economy is sending mixed signals as confidence falls and inflation seeps into the system. So it may be time for Greenspan to GET REAL and SHOCK THE MARKETS with a now rare 50 bp move.....THAT might "cure" high gas prices, the dollar and inflation in one fell swoop!

Of course, there are trade offs.....bonds would fall a bit and the stock market might not see the immediate benefit of allowing Mom and Pop to "escape" from Wall Street and "go back to the Bank CDs....." But this is the tangled position Greenspan has created for himself and the US economy........

CHINA'S VIEW OF DEMOCRATIZATION.....?

ARE THE WHEELS COMING OFF ON WALL STREET?

SLOW NEWS DAY......?

Wanted by News Media: NEW FREAK OF THE WEEK. ASAP

Scott. Terry. Jacko. We miss you!

REPUBLICANS ON THIN ICE...WITH FILIBUSTER

ITALIANS GET THE BOLTON TREATMENT.....

And Bolton isn't even comfirmed yet....!

THE DUBYA PORTFOLIO...LET US PRAY!

Defense. Oil. Insurance. Banking. and Bible Publishers.

CONSUMER CONFIDENCE PLUNGES!

HOUSING BUBBLE STILL BURNING BRIGHT....!

While Greenspan fiddles with measured rate hikes..... Clearly Greenspan has lost control of whatever it was he used to control. That job has been taken over by the Bank of China! There is even some speculation that the US-China economies are fused now. ONE ECONOMY SEPERATED BY THE PACIFIC OCEAN!

WHY IS THE DOLLAR THE DEFAULT CURRENCY?

Any "weakness" in the Japanese or Euroland economies is immediately translated into dollar strength..... But why is that? Does a weak economy in Germany really mean that the dollar is a better currency?

The great global boom that was started by Greenspanomics is over..... Weakness in demand is a global phenomenon. It's not confined to Germany or Europe or Japan.

The China Glut is going to change everything....China's hoard of dollars is becoming a geo-political bargaining chip of some importance.

The real way to play the currency market is to go to commodities ASAP....and avoid paper assets in all of their forms.

A GAY COUPLE....?

Well not quite......but what's happening with oil is very odd indeed.

SOCIAL SECURITY: SPENDING vs. INVESTING

One reason that the Social Security system is in trouble is that the money has been stolen! Then, spent by Congress. Not invested.....

There is a way to "capture" the so called benefits of long term stock investing....namely by investing a part of Social Security funds into stocks, and not spending the money on Congressional pork.

Perhaps the Republicans should have a pilot program investing 10% of the Social Security Trust Fund in stocks for five years...and see what happens?

OR HAS THE MONEY ALL BEEN STOLEN AND CHANGED INTO WORTHLESS UNFUNDED US BONDS......?

Any conversion of Social Security Bonds to Stocks would still require MORE borrowing....because the TRUST FUND IS REALLY A KONGRESSIONAL SLUSH FUND!

That is the real problem......the looting has gone on for so long that there are few good choices left.

FREEDOM vs. REASON? or FREEDOM FROM REASON

Does the Left oppose Freedom? And the Right oppose Reason? Consider:

The Left opposes Freedom from Reason and Rational Thinking.

Anything that is rational and reasonable will not be opposed by the Left.

The Left does oppose the Freedom to Starve and get Sick. Freedom to Exploit. Freedom to take over the weak. And Freedom from Might makes Right......

BUSHWORLD IS SPIRALLING OUT OF CONTROL NOW....IT WON'T BE LONG BEFORE THE BUBBA RIGHT SEES THAT THEY HAVE BEEN DUPED BY WALL STREET AND THE WASHINGTON RICH AND THEIR LOBBYISTS.

Anyway, how UNHOLY is this alliance between Wall Street and Mississippi and Alabama....! Think about that!

THE LOOTING IS ALMOST OVER.....

YO-YO MA...KETS!

Futures are down...as the market desperately yo-yo's. Reality will set in soon.

MARKETS DIRECTIONLESS AND DESPERATE.....

Treading walker until......?

SMALL BUSINESS GLOOM.....

Most small businesses seem to be rather gloomy.....with the public struggling with low wages, high debt and costly health care and gasoline....little is left for spending in the retail stores.

There seems to be many vacant store fronts in the most fashionable parts of small business retailing...perhaps things are not as they seem even in these "better locations."

ARE REPUBLICANS MARXISTS.....?

While sorting some books over the weekend I came upon a book of political phliosophy with sections about Hobbes, Locke and....Marx!

Of course, Marxism plauged the 20th Century and came straight from Hell.

But, as I read Marx's Manifesto....I suddenly realized that it was describing the current REPUBLICAN POLITICAL AND ECONOMIC POLICIES! Almost exactly!

SURELY, THE REPUBLICANS ARE USING RELIGION AS THE OPIATE OF THE MASSES!

THIS IS NOT THE DEMOCRATIC VIEW....Democrats are secular and liberal.

And the decline of labor over the last 20 years is straight out of Marx and the Republican Agenda of the last two decades...... Wassup?

Anyway. Read the title link and decide for yourself.....

DEMOCRATS: SPAWN OF SATAN....?

Says Krugman:

"But Americans are feeling a sense of dread: they're worried about a weak job market, soaring health care costs, rising oil prices and a war that seems to have no end. And they're starting to notice that nobody in power is even trying to deal with these problems, because the people in charge are too busy catering to a base that has other priorities."

This is all true, but what Krugman misses is that to the vast majority of Red State Republicans NONE of this matters.

Dubya is not perfect, but at least he's saved! It's all in the hands of God. And ALL Religious Republicans are all thankful that the baby killers and the homo-lovers are not in control. That's all that matters now.

Amazingly, Dubya's stupidity works to his advantage at every point. Republicans believe that he is "likeable" and would never do anything to harm the country "intentionally."

DUBYA SIMPLY CAN DO NO WRONG ACCORDING TO HIS REPUBLICAN RELIGIOUS BASE..... It's not about liberal and conservative now. It's all about Good and Evil.

The Democratic position should be:

LET IT RIP! Because their shrill protests are only seen as more proof that they are the Spawn of Satan.

MODERNS vs. MORONS

The political situation in the US seems to be devolving to MODERNISM vs. THE MORONS.

The Republicans have become the unofficial RELIGIOUS PARTY for most Americans. Basically, if you go to church alot, you're a Republican. If you don't you're a Democrat.

And the yada yada is that the new Pope will be playing a major role in US political affairs going forward..... Essentially, religious fundamentalism as come to America.

The only fly in the ointment for the Republicans now would be the economy. Things are NOT going well. Jobs are punk and don't pay. And the deficits have soared under Bush.......

The Democrats may have ONE hope and namely that: IT'S THE ECONOMIC STUPID trumps VOTING FOR JESUS IN THE WHITE HOUSE going forward.

Its a sad situation to be sure......

STOCKS REVERT TO BEING MEAN....

The Mean Streets of the financial district continue with no end in sight. More later.....

HIGH CHOLESTEROL IS GOOD TOO......?

For most Americans, their "abs" have long ago made the transition from a "six-pack" to an entire case...

But what about high cholesterol...? Cholesterol is used in cell building. It's essential to the working and repair of the body.

Is cholesterol just the "fireman at the scene of the fire," and not the "cause" of heart disease.....? Could heart disease be some kind of auto-immune response. Some disease of the coronary artery wall....unrelated to diet?

Could high blood limpids actually be "good" for protecting the body?

Remember, Medicine has a nasty habit of abandoning long held beliefs and protocols, just when everyone starts to beleive they are true.

History is filled with examples of this...like "bleeding" and "mercury cures" and lobatomies to name just a few.

Perhaps, moderation and good genes are really the key to health...but that doesn't sell diet books. And who wants to live to be 80 anyway...it really doesn't seem like very much fun!



Postscript: But, consult with you doctor before following my crackpot advise.....

FORTUNATELY NOTHING IS PERMANENT....

Fortunately, neither our former Hitler Youth, now Pope Benedict XVI, nor Dick Cheney are permanent....

Both are seen as "merely transitional" figures.

Indeed, these so-called "conservative judges" so sought by the Republicans could be a great disappointment....once they are on the bench. Judges have an odd way of doing that.

SOONER OR LATER, SOCIETY AND CULTURE AND THE ECONOMY WILL FIND A WAY TO EXPRESS THEMSELVES.....

There is BIG trouble in the stock and currency markets now....that's bad for "private accounts" and personal 401ks touted by Dubya & Co.

Does anyone really think that abortions in America, such as they are, will go back into the alley?

Does anyone really think that gays will go back in the closet?

Can the deficits, now being ignored, go on forever?

I give Papa and Dick about "four more years" to express their backward views.....then we can get on with the 21st Century, as it truly will be.

GETTING TOUGH WITH CHINA.....

China may have over played it's hand with the attacks on Japan....and now refusing to let it's currency float.

Remember, after all, China is still THE LAST COMMUNIST NATION of any size....and a huge economy now thanks to Western capital and greed for cheap labor.....

The COLD WAR isn't going to be over.....till it's over. There is still China to deal with As we are now saddly finding out.

INSANITY WON'T SAVE THE DOW.....

Yesterday's strange market Tsunami was unpredicted and it's size was surprising. After all, 200 point rallies don't usually come out of nowhere. As any ship's captain will tell you....

Yes. The market was "over-sold" and all that technical stuff.

But now the futures are down this morning....so, a little temporary insanity probably can't save this market from it's ultimate fate.

The only explanation for yesterday was that every so often the "free float" becomes so concentrated in accounts of the market makers....that then they can force a spike in prices by holding the float off the market for a while.

Remember, ALL STOCKS of a company are NOT IN PLAY on any given market day...and ONLY those stocks that are in play set the prices....

Not the stock you have in your sock drawer! That doesn't count.... Until you decide to put it "in play." But, when you do....alas, the market falls!

In short, IT'S ALL ABOUT THE FREE FLOAT. And the market makers....

NOT THE SO CALLED "PRICE OF STOCKS"

......WHICH IS MOSTLY A FICTION REALLY.

AS MANY INVESTORS SADDLY FIND OUT WHEN THEY TRY TO SELL!

TOM FRIEDMAN: NO LONGER WRONG, JUST BORING

BLAH, BLAH, BLAH....

More predictable rubbish from Friedman. Very tedious and Very wrong on almost every issue these days.

If Freidman is NOT on the payroll of the Neocons, then Dubya & Co are getting a fantastic "free ride" for which they should be eternally gratefull to the NYTimes!

It's hard to even get the urge to argue with Friedman anymore......he's transended merely being "wrong."

Now, he's just BORING!!

Postscript: And for a columnist THAT is the worst of all sins...... Friedman is really desperate to protect his standing on the Bar Mitzvah Circuit. How else can you explain his apostacy.....??

KRUGMAN'S BREAKTHOUGH INSIGHT...

Notes Paul Krugman in the NYTimes today:

"Decades of indoctrination in the virtues of market competition and the evils of big government have left many Americans unable to comprehend the idea that sometimes competition is the problem, not the solution."

Actually this Fallacy of Free Trade dogs Americans in many areas of public policy these days.......not just health care.

Also note, that MOST of our Medical Dollars are spent on people in the last year of their life.... I've heard that 80% of our total medical expenses are spent on people with one year to live.....or less!

Perhaps people have a "Duty to Die" cheaply in this Age of Miraculous Proceedures that can prolong life, but not make that life "worth living." See Schiavo Case. End of life issues can be tricky, and need more discussion.

Another area of fallacy is the notion of Employer Provided Health Care.

Here, if someone is healthy enough to work, they probably aren't using much health care. But, if they are not healthy enough to work THEY LOSE THEIR COVERAGE.... And then become a public charity case. Or, go on Medicare via SSI Disability.

Krugman notes that the poor simply get sicker and sicker until they are "covered" by emergency rooms....which are the new "health clinic" for the uninsured these days.

Most American emergency rooms are nightmares of suffering....which allow poor people to die "indoors," instead of "in the parking lot," or on the street outside the hospital! That wouldn't "look right" and might attract news media coverage!

Ultimately, the US goes to a single payer plan as in most of the rest of the civilized world.....

We can all look forward to the day the US joins the civilized world again...hopefully before this entire house of cards collapses......But perhaps not. Stupidity runs deep in America.

THE BATTLE FOR DOW 10,000 HAS STARTED!

Clearly the market masters have drawn a line in the sand at Dow 10,000.

This is very similar to what happen back during the Bubble Daze. Dow 10,000 became a Battle Ground between the bulls and the bears.

Since the bulls are the favored class on Wall Street we may see 10,000 hold for sometime.

Clever investors will play this for all it's worth.....the "smart money" and the shills will PAY YOU WELL for betting on the Dow holding at 10,000 for the rest of this summer.

Of course the macro-economic situation is a disaster.....BUT THAT'S A STORY FOR OCTOBER 2005!

THE BATTLE FOR DOW 10,000 HAS BEGUN...AND THERE WILL BE MONEY MADE FROM IT!

GREENSPAN ON THE BUDGET DISASTER....

RALLY ON BOYS.....! GREENSPAN HAS BEEN FORGOTTEN AT LEAST FOR TODAY!

CANTICLE FOR LEIBOWITZ

In 1959 a book called CANTICLE FOR LEIBOWITZ was published. It was written by Walter Miller in the sci-fi tradition of Wells and Stapledon.

In the book, the world has experienced an atomic disaster that has destroyed everything including knowledge of science......Soon a movement called THE SIMPLIFICATION arises.

THEN, THE WORLD IS RUN BY "THE SIMPLETONS!" These people pride themselves on being ignorant....!

There are some monks in the desert, who are trying to preserve certain "books" with "the knowledge," but they don't understand these books.....because the keys to scientific reasoning have been long lost. All scientists and intellectuals having been killed by mobs of Simpletons.....LONG AGO.

Anyway......does this sound anything like our Simpleton leadership of today with it's various "fundamentalisms?" Does this sound like anybody we know....?

Check out the book at Amazon....in the title link. It's still in print and it's one of the major classics of 20th Century sci-fi.

GOOGLEMANIA--GOOGLE AT $400??

Google now incorporates all of the MANIC momentum plays of the old bubble daze into one stock. P/E of 140++?.....

The price is, of course, TOTALLY absurd.....but still the public will chase it. There is great money to be make and lost in Google. Ultimately reality will set in....but not now, not yet.

MARKETS BRACE FOR MORE HAPPY TALK

OIL UP.....again. Evil Gold down. The markets are well into fantasy mode now. Even old man Greenspan will BE quickly dropped from the front pages today!

THE BUBBLE LIVES! AT LEAST FOR ONE MORE DAY!

LET RUSSIA JOIN NATO.....?

What difference will it make now.....?

ANOTHER MASS GRAVE FOUND IN MIDDLE EAST?

WAIT FOR MORE NEW LOWS....800 PER DAY AT NYSE

Is it time to "bargain hunt".....I don't think so. I'm going to start looking when the NYSE has 600 to 800 new daily lows....this happen last May too. So, it's doable!

Anything less might be "catching a falling knife." There are no bargains here, not yet.....and even after the big new lows start.....the interest rate environment and the price of oil will have be to considered. We could be at the end of a mega-cycle like in 1982..... That could mean punk markets for ten years....or longer. Too long to wait.

But buying into the coming new lows seems a good policy nevertheless, for now.

SHOULD GREENSPAN GO 50BP NEXT TIME?

Today's dismal news on inflation could cause Greenspan to go for a 50 bp rate hike next time.

One thing that the Fed has given up in the recent rate cycle is the ELEMENT OF SURPRISE..... And it was surprise that was the hallmark of the Fed in the past.

Can monetary policy really be effective when everyone knows what's going to happen and how....? Clearly, so far the answer is no...

By being so predictable the Fed may have to OVERSHOOT JUST TO REACH THEIR GOALS..... of neutral rates. And that would be unfortunate and unnecessary... If only Greenspan could muster the nerve to shock the markets with a 50 bp hike....the dollar would absolutely soar...and not just for one or two days...and the price of oil could very well plunge.

But then, we are in a post-post-bubble economy...and it has been an economy that has been warpped and twisted by the Fed to comply with Wall Streets demands....so a correction may be inevitable no matter what.

But a 50 bp hike would be "curative" on many levels and on many fronts.....if only Greenspan had the nerve to do it.

RICE USING BOLTON'S DIPLOMATIC PLAYBOOK......?

DOW IN FREE FALL........

More Happy Talk needed......

BUSH SIGNS BANKRUPTCY BILL.....

THIS WILL BE HIS BIGGEST DOMESTIC MISTAKE......AND YOU HEARD IT HERE FIRST.

ATTORNEY FEES WILL SOAR!!

NOTICE TO AMERICAN CONSUMERS:

YOU ARE NOW TOTALLY ON YOUR OWN! NOBODY IS LOOKING OUT FOR YOUR INTERESTS!

AND IF YOU VOTED FOR DUBYA & CO.....YOU RICHLY DESERVE YOUR FATE....I HAVE NO SYMPATHY FOR YOU......

KISS DOW 10,000 GOOD BYE....FOR SAY, FIVE YEARS?

Reality seems to be coming back for another try at the markets.....well, maybe this time it will take hold.

The truth is that a stock without a yield is just a lottery ticket in the macro-economy power ball game!

In an "ordinary economy" with "normalized" interest rates and without "hyper-liquidity" to "save the bubble" THAT'S JUST THE WAY IT IS.....YA SIMPLY GOTTA HAVE YIELD.... Now, exactly what part of that doesn't the market understatnd.

In his attempt to relive the bubble all Greedspan did was trash the dollar....and now we see the results in commodity prices.....

The greater "evil" of free trade has transfered massive amounts of captial and knowledge to places like China....where responible economic and political policy are problematic at best.

NOW WE HAVE THE SO-CALLED "CHINESE MIDDLE CLASS" TO DEAL WITH....WITH THEIR RISING DEMANDS FOR EVERYTHING!

EVEN AS THE AMERICAN MIDDLE CLASS DISAPPEARS INTO THE BANKRUPTCY COURTS ONLY TO EMERGE AS "INDENTURED SERVANTS" THANKS TO DUBYA AND KONGRESS AND THE BANKS......!

SAY BYE BYE DOW 10,000.......

THAT OLE "DOW 10,000" BASEBALL CAP IS GOING TO LOOK LIKE IT CAME FROM ABERCROMBIE AND FITCH BEFORE THIS IS OVER.....!

And investors are getting a bit frayed and frazzled too.....

MARGINALIZATION OF THE RELIGIOUS RIGHT....

The banishment of the religious right from American politics is the next big job facing the US electorate.....

The willingness of the religious right to resort to proto-fascist rhetoric....with wedge issues that hide a secret agenda make them far more dangerous to America's future than the secular left with their pleas for justice and equality and a stop to the looting of the economy by the rich.

In 2006 Americans will have a clear choice...for more anger and "me thinking" and ever more wedge issues...or a return to the politics of "we" and seeking the common good.

Let's hope the Red State Religious wake up and see the error of their ways.....because it's all a downward spiral now, and even more so in the Red States with their dependence on Federal government spending and Greenspan's Bubblenomics......

WHO IS BLOCKING PEACE....HAMAS OR LIKUD?

Says Friedman in the NYTimes:

"But this withdrawal is a threat to the Jewish religious nationalists. Their goal is not peace, but to conquer Israeli society with their messianic vision and biblical map. They killed Mr. Rabin for getting in their way and have threatened to do the same to Mr. Sharon. Some of these settlers will not go down quietly."

The real issue is not democracy....it's whether the ultra-right on both sides can be persuaded to abandon their extreme positions FOR THE GOOD OF ALL.

Right now, the Israeli ultra-right is a bigger obstacle to peace than Hamas...... Why? Hamas does not occupy Jewish Land.

TROUBLE ON THE RIGHT.....IN ITALY AND US...?

The recent troubles for the Italian right could presage something similar for Dubya and the Republicans in 2006......

IT'S JUST NOT WORKING....HAVE YOU NOTICED?

AVOIDING THE HOUSING BUBBLE....?

Prices will plunge as demand subsides and supply increases..... Hey, it's supply AND demand! Right?

I won't touch real estate now....unless it's already a "distressed case."

RUSSIA SLAMS US POLICIES....

Condi comes to Russia.....stay tuned. Russians nitpicking American ideas....

SCHUTTLE WON'T FLY.....

It's time to retire that Ruptured Duck.....and quit risking people's lives on a bad design and flawed concept.

NAZI POPE.....?

Hmmm.....they should've went with an hispanic. Germany and the Papacy are just too volitile a combination.

HABEMUS PAPEM

Who was Benedict the Fourteenth......?

Who was Benedict the Fifteenth......?

Who was Benedict the First.....?

Who was Saint Benedict the Second.....?

Who were the other Popes named Benedict.....?

CONDI LECTURES RUSSIA.....

Just what we need....more people pissed off at the US. Between Bolton and Condi the dollar could be at 2 for 1 on the Euro soon.

GM AND AMERICA....GOING DOWN THE TUBES TOGETHER?

Remember when: "What's good for GM is good for America?"

Well, I hope not!

HOUSING BUBBLE POPS.....?

Also the number of houses on "your block" with FOR SALE signs is a good indicator..... If you want to know the condition of the real estate market...just look around you. No experts required!

Is it just me....or are there really more houses for sale "per block" than before..... More signs mean lower prices eventually, as sellers become "motiviated."

The smart money may be cashing in their real estate chips now! After all, can high rates REALLY be "OK" for housing....especially post-bubble housing?

MARKETS SEEK HAPPY TALK....

Can the markets muster a "happy talk rally?" Well, perhaps for one day....but the long term trend is down, and down substantially. This is a traders market, not an investors market. Investors should stick with cash, commodity plays, and the Euro....

Nothing has changed in the American markets...everyone still has the bubble mentality. No one thinks that anything bad can happen...."they" won't allow it..... Well maybe. But the numbers are all bad at the macro level. And the few CEOs doing the happy talk are the usual suspects....who missed out on doing the "perp walk" the first time around...

Dow 8000 by the Fourth of July....? Very possible.

CHINESE IMPERIALISM....THE NEW PROBLEM.

Very likely controlling China will be THE new problem of the 21st Century. China has given the Capitalist West the one thing they crave like a drug....CHEAP LABOR!

Exactly how the cheap labor binge plays out is problematic....but very likely China will be stronger, and the west, including the US will be weaker because of it.

The shift in the geopoltical and economic tectonic plates is happening everyday now....in the markets and elsewhere.

Many ask: What will the New China look like....the real question is what will the New America look like?

Very little thought has gone into planning ahead in the US....mostly it's just smash and grab greed....out of control.

SETTLEMENTS WILL PROVOKE CRISIS EVENTUALLY

DOLLAR, BOND AND MARKETS TANK...AGAIN.

There is a lot of downside to come......as expected. But the real worry is just how tied are the Fed's hands in the coming economic downturn.

All the happy talk from the usual shills seems a bit "off base" in any event.

ADOBE GETS FLASHY....

I love the Macromedia Suite.....especially Flash.

THE CHINA PROBLEM.....GROWS!

The hostility that China is showing Japan could be a preview of what the US can expect IF it crosses China's geopolitical agenda.

Supposedly, China is angry at Japan for "supporting" the US on Taiwan independence......but what about the US position on Taiwan?

With China's HUGE HOLDINGS OF US BONDS.....could the US dare come to the defense of Taiwan should China seek reunification....?

THAT, would be "problematic" for the bond market.....

Additionally, China's currency is causing some alarm in international currency markets. Still, any attempt to reform China could result in China using it's "big stick" of being the World's "factory floor."

It is odd that the world's last Communist Nation is now in a position to call the shots on Euroland and the US.....Or was that the Communist plan all along....?? To let Capitalism's greed and desire for cheap labor destroy the west....by it's own doings.

SHARON WILL NEVER LEAVE GAZA OR THE WEST BANK

Get used to it..... Things will seem much more predictable.

DOLLAR DOWN, BONDS UP....?

The Rush out of the stocks and into bonds could be ill-advised. Look at the Dollar...it's down today against the Euro.

So, to buy over-priced bonds in a rising rate environment with the currency collapsing is a little nuts.

Clearly, Gold or the Euro are the better bets in this developing scenario...... This looks like a classic currency collapse situation....not a case of 1970's stagflation as Krugman suggests in the NYTimes today.

Germany in the 1920's? Who knows maybe it's time to start hoarding sausages and can hams.....as was done in Berlin during the hyper-inflation!

CONSUMERS STUCK WITH GAS HOGS....

Remember zero down financing for SEVEN YEARS....on a lot of American Gas Hogs?

Now with gas prices high many American Consumers....may find themselves with No Equity....and HIGH DEBT on a car that they can't afford to drive.

There is the real chance of DEFAULTS on Car Notes where people simply WALK AWAY FROM THEIR CARS, LIKE MANY PEOPLE ARE EXPECTING WITH THE HOUSING BUBBLE.....

Of course there will be re-sales and deficiency judgments issues....but NOW those judgements will be non-dischargeable in Bankruptcy...unless the person quits their jobs to reduce income enough to qualify for Chapter 7.

THE GREAT UNWINDING OF THE DEBT BUBBLE IS GETTING CLOSER.....But it will come in the car market first....not in real estate.

EUROLAND STOCKS PLUNGE......

ON DELAY.....?

Detach his feeding tube....!

Coulter on cover of Time.....? Oh Please....she's a joke!

IT'S HARD TO BE HUMBLE....

It's hard to be humble when we've just call a market collapse...TO THE DAY and for the RIGHT REASONS.

But, starting Monday Morning....I'll try!

Stay tuned.....MORE TO COME ON THE MARKETS. IRAQ. THE GEOPOLITICAL SITUATION. AND THE NEW LATIN AMERICAN POPE!

And while your here....don't forget to explore some of the sidebar links on this blog. Nothing is commerical and it's all the stuff I use everyday.... Check it out......and come back daily. Interesting Times ahead...gauranteed!

COULD SINO-JAPANESE HOSTILITY HURT STOCKS?

The war of words between China and Japan COULD have an impact on Wall Streets already dismal prospects for next week.....

It appears that the Asian Giants are starting to squabble over resources and markets.

Who gets to supply the Americans....who can't make things for themselves....?

A Sino-Japanese War may eventually be fought to see who gets to pick the remains of the Great Western Empire.....now dying from Imperial overreach and currency collapse!

HAVE WE BECOME LIKE THE OTTOMAN'S IN 1905....!! Think about it ...

LET THE IRAQIS HANDLE THE INSURGENTS....

Many Iraqi politicians think that they can handle the insurgents with the militias better than the Americans.... And they are probably right!

The militias are local and respected by the community....they speak the langugage and they have a stake in protecting their home turf..... And the Americans? Well, they just want to protect the oil wells......!

It is very possible that the Neocon dream of an "American Iraq" could be the next fantasy to fall...... The Iraqis want the US out ASAP. And that includes ALL IRAQIS....... Dubya could be running into a STOOGE SHORTAGE in Iraq by the end of this summer.....

IT'S THE ECONOMY, BROOKS!

Says David Brooks in the NYT:

"The reality is that we have a generation of kids who have seen the ravages of divorce, who are more likely to respect and listen to their parents and their ministers, who are worried about sexually transmitted diseases and who don't want to mess up their careers."

Brooks seems to want to declare victory for the conservatives in the Culture Wars....

But it's really the declining economy that is causing many young people to put off sex and marriage......

This is quite common in periods of economic decline when the younger generation feels they have little hope of finding a job that can support a family.

During the Great Depression of 1873 to 1893.....persons opting for the single life abounded.....

Combine our moribund economy with "women's lib" which allowed wives to support their husbands.....and through in a sexually transmitted disease scenario that is almost medieval in it's ability to scare people.....and you have a lower birth rate and.....likely fewer abortions.

Recessions and depressions are good for the "public morals" according to conservatives.....

WIEMAR AMERICA LOOMS!

The economic shocks are just starting....

Stay tuned to this blog for WIEMAR AMERICA! A Trusted Site to tell the real story, since 1999!

This is not hyperbole....but merely an attempt to penetrate the elite smoke screen and get to the real truth......

A truth which is starting to seep out of the cracks on Wall Street and in Washington everyday now.....

MAJOR CURRENCY/TRADE SHIFTS ARE AFOOT...AND THEY CAN NOT BE STOPPED NOW.

WHAT DOES THE FUTURE HOLD....? Hint: Think about Germany in the 1920's....it's absolutely the same now for the US economy....there is no difference

GERMANY WAS TOTALLY DEPENDANT ON FOREIGNERS TO SUPPORT IT'S CURRENCY!

WHEN THAT FELL APART IN 1922-24...THE GREATEST HYPER-INFLATION IN MODERN TIMES OCCURRED.

In Germany it was repartions....for the US it's the Trade Deficits. Different? NO! The same thing really.....

THE MONETARY TECTONIC PLATES ARE SHIFTING....NOTHING THAT HAPPEN THIS LAST WEEK WAS AN ACCIDENT..... AND THE FUTURE IS PERHAPS FORETOLD BY THE PAST.

Developing and to be continued...... Bookmark this page and come back daily for more on this important change of fortunes.

COLLEGE OF CARDINALS...THEY'RE SMOKIN'...! SALSA PAPACY LOOMS!

THE NEXT POPE WILL BE FROM LATIN AMERICA.....

Amid the speculation about who will assume the See of Peter, reality must be given it's due.

The Catholic Church is very very big in Latin America...and the rise of Hispanic influence inside the US is also well documented.

This notion of another European Pope is simply a reversion back to the bad old days of the Imperial Papacy, when the Pope was an Italian politician. A Pope from Germany would be the WORST CHOICE. Essentially it would bog the Church down in WWII issues and the Germans are not the center of Catholicism today.

THAT CENTER IS IN THE THIRD WORLD AND PARTICULARLY IN LATIN AMERICA.....

IT'S TIME FOR THE FIRST POPE FROM THE NEW WORLD AS THE CHURCH ENTERS A NEW MILLENIUM.

LET'S CALL IT: THE SALSA PAPACY!

HISTORIANS TAKE NOTE....REPUBLICANS LOOT ECONOMY!

One of the newspapers yesterday had an interesting juxtaposition of stories..

There was a story about: "AMERICAN CONSUMER IS WEAKENING."

AND RIGHT NEXT TO IT WAS THIS: "CONGRESS PASSES NEW BANKRUPTCY LAW TO STOP CONSUMERS AVOIDING DEBT."

Historians will note that often EXACTLY THE WRONG THING IS DONE AT EXACTLY THE WRONG TIME...... This is really quite common as a society or an economy starts to collapse.

Basically, everyone is scrambling to save themselves....and no one is looking out for the GENERAL OR COMMON GOOD....

Only much AFTER THE DELUGE do people settle down and begin to rationally assess the situation and the prospects for recovery.

IN SHORT IT'S THE DIFFERENCE BETWEEN 1928-29 AND 1932-36.

AMERICANS SHOULD BE PREPARED FOR ALL MATTER OF SMASH AND GRAB ECONOMICS AND GENERAL LOOTING OF THE ECONOMY BY THE ELITE SPECIAL INTEREST AND THE TOTALLY KORRUPT KONGRESS.

BUT, RED STATE REPUBLICANS BEAR A SPECIAL RESPONSIBLITY IN THE COMING DISASTER!

YOU CAUSED THIS! BY YOUR IGNORANCE! AND BY YOUR GREED!

The collapse of the US dollar and US jobs and the massive debt and deficits tax cuts for the rich are now coming home to roost....WHILE YOU IGNORANT A-HOLES WERE WORRIED ABOUT "GAY MARRIAGE!"

It's probably too late to avoid the coming catastrophe...but we can at least QUIT DIGGING THE HOLD DEEPER.

RED STATE REPUBLICANS SIMPLY MUST SOBER UP....TO THE DISASTER THEY HAVE CAUSED.

CALL YOUR CORRUPT CONGRESSMAN...AND TELL HIM YOU'VE HAD ENOUGH OF THE WALL STREET ELITES....YOU'VE HAD ENOUGH OF THE "WEDGE ISSUES" THAT ONLY MASK THE REAL LOOTING THAT IS DESTROYING THE ECONOMY.....

RED STATE REPUBLICANS CAUSED THIS DISASTER...AND IT BEHOOVES THEM TO START THINKING ABOUT HOW TO STOP IT....!

SUCKER FLUSH!!!

Well, readers of this blog can't say they weren't warned!

Frankly, I see the Dow going to 7000..... The problem is that it's very hard to value paper investments that DON'T have a return built in.

You Know what a bond is worth by IT'S YIELD. Right?

But most stocks STILL don't pay anything like a decent dividend. And any extra cashi, IF ANY, is used for BUY BACKS......which is really a way of supporting the STOCK OPTION OF THE CULT OF THE CEO...who runs the company.

So, money is wasted in BUYING BACK EXCESS STOCK ISSUED UNDER OPTIONS....which means the investor is not the first person in line for the company's earnings....IT'S ALL ABOUT THE CEOs AND THE INSIDERS WHO ARE MOSTLY JUST LOOTING THEIR COMPANY'S NOW.

Exactly what part of that don't you understand.....?

STAY TUNED AND BOOKMARK THIS BLOG...BECAUSE THERE IS A LOT MORE TO COME IN THIS MARKET CRASH....THE THE KORRUPT KONGRESS IS STILL IN SESSION TOO!

THIS IS GOING TO GET VERY VERY INTERESTING........

NOW THE DELUGE......

It's all downhill from here for the markets. Even Apple, (which I don't trust) was sold off on the "good news."

CASH IS KING IN THE SPRING......

HITTING THE REAL ISSUES....today's NYT op-eds

Great columns by Friedman and Krugman today.....showing exactly why, in detail, the US is a moribund Credit Card Empire nearing final collapse.....

The best Economic Model to predict the future of the American Economy is Germany in 1922-24....Germany's war reparations are our Trade Deficits....it's nearly the same thing! Our Money is our biggest EXPORT! Like post-war Germany in the 1920's FOREIGN SUPPORT for the currency was KEY!

I see no way that America, as we once knew it, can survive the second Bush presidency.

SINGLE PAYER IS THE WAY TO GO.....

Sooner or later America will go for a "single payer" health system....probably based on the Canadian model.

The question is the amount of economic collapse and pain and suffering necessary to get there.

Of course, most people realize that Health Care is the most serious domestic economic problem we have today.....

Health care is killing off jobs and small businesses. And large corporations are going overseas where health care is subsidized.....

The problem is the SPECIAL INTEREST LOBBIES AND A TOTALLY CORRUPT CONGRESS.....

Sooner or later, we'll go to a single payer plan....

The political class and the conservative news media are absolutely desperate for more "fluff news" and other distractions to keep health care out of the news cycle .

And to provide health care, some cuts in the imperial military budget will have to be made. Thus, anymore "optional wars" will probably be a thing of the past....

So a WALL OF SPECIAL INTERESTS stand between the American people and decent health care........ Sad, but true.....just like Dubya & Co.

POPE STILL DEAD......

SPRING CRASH IS A TRADITION ON WALL STREET.

Usually after April 15 until around May 1st....Wall Street does it's annual Sucker Flush.....

It happens every year.....about this time.... Essentially stocks can't go up forever...and you have to flush out the retail plungers so the markets and "the float" can regain their equilibria after the massive Q1 pension funding is over.

Also, the first quarter "happy talk" is wearing thin by now...as reality sets it for the rest of the year. Hence, the need for a "flush"....

This year could be especially bad because of rate hikes, oil prices, the dollar, our real estate bubble, and the massive trade deficit. Not to mention consumer debt that is now NON dischargable in bankruptcy....! Beware Big Spenders.

BERNANKE SPEECH ON TRADE DEFICIT....!

Says Bernanke:

"Why is the United States, with the world's largest economy, borrowing heavily on international capital markets--rather than lending, as would seem more natural? What implications do the U.S. current account deficit and our consequent reliance on foreign credit have for economic performance in the United States and in our trading partners? What policies, if any, should be used to address this situation? In my remarks today I will offer some tentative answers to these questions."

Concludes Bernanke:

"The various factors underlying the U.S. current account deficit--both domestic and international--are likely to unwind only gradually, however. Thus, we probably have little choice except to be patient as we work to create the conditions in which a greater share of global saving can be redirected away from the United States and toward the rest of the world--particularly the developing nations."

IN OTHER WORDS WE HAVE TO CONVINCE FOREIGNERS TO QUIT SENDING US THEIR MONEY.....!

WELL, IF THE DEFICITS INCREASE ANYMORE.....THAT MAY INDEED HAPPEN!

And that's really what everyone is afraid of......

Hmmm....has Bernanke taken a lemon and made lemonade.....? Is this really economics or just wishful thinking...?

WINNING HEARTS AND MINDS.....in Iraq.

Remove the Graffiti or the wall comes down......!

TEMPLE MOUNT RELICS FOUND IN GARBAGE!

Buying a house in Israel.....?

BANKRUPTCY BILL WILL KILL THE CONSUMER....

The Bankruptcy Bill will be the straw that breaks the AMERICAN CONSUMERS back.....along with gas prices, interest rates, punk jobs, a real estate bubble, a weak dollar.......etc. Amazingly the weak dollar is aggravating the trade deficit, NOT helping it!

Not to be too shocking, but the historical period I'm looking at now for guidance....is Germany in 1922-24....!

NEXT STOP.....DOW 7000. Then, we'll talk.....about where the bottom is.

NOTE WELL....THE MARKET SHILLS ARE GRASPING AT STRAWS NOW....

IMB MISS.......? DOW MESS.....?

As I have predicted the GREAT UNWINDING has begun....stay tuned.

QUALITY OF EARNINGS IS FALLING AGAIN...!

THE GAPP GAP IS BACK!

THE LAW OF THE JUNGLE IS BETTER.....?

David Brook's column today in the NYTimes is the best argument yet for why Bolton is bad for the UN.....virtually everything Brooks says today is nonsense. And that's hard to do! Even for the likes of Brooks!

Says Brooks: " John Bolton is just the guy to explain why this vaporous global-governance notion is a dangerous illusion, and that we Americans, like most other peoples, will never accept it. We'll never accept it, first, because it is undemocratic. It is impossible to set up legitimate global authorities because there is no global democracy, no sense of common peoplehood and trust."

But even so, no one believes in "world government" but Bolton could crash the bond and the dollar.....if he becomes the straw that breaks the camel's back for foreign support of the US economy. The US is a "Credit Card Empire" remember......?

The international bond markets would then become our "world government" sooner rather than later! (Remember what Clinton said about the bond market?)

The Constitution can't save the dollar! And neither can Republican stupidity.....

BLUE STATE REVENGE....!

You have to wonder what folks in the "red states" are thinking......!

Ever since the election the Red State Republicans have been advocating policies that would be detrimental to the economies of Red States.... Consider:

Red States are net consumers of Federal Government money....be it for SSI Disability payments or Military bases; the truth is that RED STATES SHOULD BE IN FAVOR OF MORE FEDERAL SPENDING NOT LESS....AFTER ALL THEY ARE THE ONE'S BENEFITING FROM FEDERAL SPENDING!

Red States are generally rural....and in remote areas GAS PRICES are much higher, and distances traveled much greater......HOW EXACTLY DOES KANSAS AND SOUTH DAKOTA BENEFIT FROM $2.40 GAS! I don't see it. And does the average NYCity resident care? ....most of them don't even own cars, because it's impossible to find a parking spot!

Why should the Red State voter be in favor of repealing the ESTATE TAX.....MOST OF THE MILLIONAIRES ARE IN NEW YORK AND CALIFORNIA, ...THANK YOU VERY MUCH BUBBA!

How does Bankruptcy Reform help red states....most of the money center/CREDIT CARD banks are in Blue States.

All Red State Republicans have gotten for the money and their votes are a few GAY BASHING COMMENTS, and some off the cuff "Jesus Talk" from their Republican leadership....the rest has been all pro-Wall Street/RICH, all the time.

THE RED STATES HAVE GOT NOTHING TO SHOW FOR THEIR SUPPORT OF THE WALL STREET REPUBLICANS......

AND THERE'S A LOT LESS WHERE THAT CAME FROM.....!

ESPECIALLY IF "THE BEAST" IS STRAVED EVEN MORE, .....AS IS SURE TO HAPPEN WHEN THE VARIOUS TAX CUTS CRASH THE DOLLAR AND THE BOND MARKET....AND INTEREST RATES SOAR AS A RESULT!

LET'S JUST CALL THIS.....THE BLUE STATES' REVENGE!

MARCH FED MINUTES

Read it and find the HAPPY TALK spin points if you can......?

Try this:

"Inflation in core consumer prices was seen as being boosted a bit by the effects of higher import and energy costs in the near term but still largely contained by continued strong growth in underlying labor productivity and remaining slack in resource markets."

There's more..... But the Fed does seem to be singing from the Wall Street brokerages songbook as usual.

Few out in the REAL WORLD would recognize the economy described in the Fed Minutes as the REAL US ECONOMY....!

SPRING CRASH LOOMS.....?

The title link has a raft of articles that indicate that the happy talk of the 1st quarter may be coming to an end and that a Spring Crash, like last year when the NYSE was making 800 NEW LOWS every day, could be coming.

Clearly, this market is running on fumes.....and CEO spin, funny accounting, and one-off "brokerage upgrades" which usually tell you more about the "float" than the state of the company or the economy......

But with oil and gas at or near record highs, and with rates gauranteed to rise....the only question being how fast; .....where's the beef to keep up the momentum in the markets.....? I just don't see it.

THE COURSE OF LEAST RESISTANCE NOW IS DOWN.....AND PERHAPS DOWN SUBSTANTIALLY. PERHAPS TO DOW 7000 YET AGAIN?

And of course the geopolitical situation is not going to help. With China and Japan nearly warlike on "oil and gas rights" in their off-shore "economic zones."

Iraq and the middle east in general are sure to add to the gloom....with no end in site......and then the ever present possibility of a summer terror attack looms. 'Tis the season....as Tom Friedman seems to imply.

Finally, the Israeli settlers movement could be coming out of the shadows with more attacks on Sharon and perhaps even on the Temple Mount......

So, I'm strictly holding on to cash, at much higher CD rates now, and waiting for this false bull market to crawl into the light of day......

Our summer of discontent is about to begin.

ESTATE TAX REPEAL COULD CRASH BONDS....

How many family farms are out there....? How many CEOs that have looted their companies and now have massive estates to pass on tax free to their heirs....?

The estate tax repeal will cause a NEW ARISTOCRACY in the US that could be dangerous to democracy.

The estate tax repeal will slam the budget deficit against the wall.

The estate tax repeal could crash the bond market which is already on thin ice because of the dollar and the deficits.

THERE IS SUCH A THING AS THE STRAW THAT BREAKS THE CAMEL'S BACK..... THE ESTATE TAX REPEAL COULD BE JUST THAT......

OSAMA'S DILEMMA.....

As Friedman wonders when Osama will attack again..... Osama has a different problem:

HOW TO TOP THE WTC ATTACK!

Clearly, "just" a car bombing or suicide bomber would not equal the 911 event; and it might detract from Osama's "opus magnus" of terror.

It's very possible that Osama does not want to upstage 911 by having "lesser attacks" that would only bring global sympathy back to Dubya and the Neocons.....

Although some in the global community would say that the "next attack" was bought and paid for.....by the "illegal" war in Iraq.

Still, I have to think that EVEN Osama was surprised by the massive destruction done at the WTC.....

Most people, including me, thought that these buildings had "redundancies built in" .....or some kind of fail-safe protections against a catastrophic collapse.

Apparently not.

In truth, 911 was probably a one-off event that will never be equalled again....at least not by a bunch of guys with box-cutters.

Indeed, since the election, Code Orange has become nearly obsolete.......

My hunch is that a further attack inside the US would be counter-productive for Osama & Co...... And they know it.

BOLTON BAD FOR THE BOND MARKET.....

The unpleasantness in the markets today could be just a preview of coming attractions if the dollar were to collapse because of foreign disgust with US fiscal and monetary policy. The entire House of Cards seems to be on the verge of collapse.....

The only thing holding up the markets now are one off rescues and questionable accounting..... My hunch is that the Dow goes to 8000 this summer, even without a major collapse....and I expect the 10 year bond to be a 6% by the end of the year.....this will be a combination of Greenspan rate hikes and foreign selling of bonds during the summer......

Who would hold debt instruments now?

FIRST MAP OF AMERICA FOR SALE....circa 1507

WHAT DO YOU CALL THE DROP IN OIL....?

DISASTER AVOIDANCE..... The current level of gas prices could strangle the US economy if it is allowed to continue into the summer months. Tourism is just impossible at $2.30 per gallon.

WHY IS THAT MAN SMILING....

Can the US and the Afghan narco state ever have a real relationship.....? Rummy seems to think so!

MARKETS TANK....ON RETAIL NUMBERS

What do you call a 100 drop in today's Dow? ......a down payment on future declines? There will be great unpleasantness after May first. Nice plunge in oil...but that was likely just profit taking by speculators....that's just the kind of thing those type of people do.....

LEBANON AND THE NEFARIOUS FORCE....

The collapse of the government in Lebanon is one more nail in the coffin of middle east stability. The interesting thing is that while Syria has been blamed for the bombing that killed the former PM....they have denied it. And most people think that such an assassination would have served no purpose for Syria. So, the real question is WHO DID KILL THE PM?


COULD THERE BE SOME "NARARIOUS FORCE" AS YET UNKNOWN WHO WOULD LIKE TO SEE CHAOS IN SYRIA AND THE MIDDLE EAST IN GENERAL...... Of course, Osama's boys have "admitted" to the killing.....but we don't want to believe them!

THIS IS A GEOPOLITICAL WHO DONE IT....WORTHY OF AUNT AGATHA!

IS EBAY SHOPPING PASSE....?

Are Americans finally shopping less and saving more? NO! They're just shopping less to stay out of debt and pay for the gas hog!

WHY NO OSAMA? HE WON THAT'S WHY!

Tom Friedman asks: Why no more attacks by Osama. But consider:

Friedman's latest book reveals his screwball thinking and inability to see whats really going on, so the fact that he can't understand what Osama is up to is not unexpected......

Basically, Osama is still reaping the benefits of the attacks on 911.

Osama thinks that he is the Great Destroyer of Empires. Osama believes that he bankrupted the old Soviet Union in the Afghanistan War.

And, Osama thinks he has duped Dubya & Co into a similar trap in Iraq.

The best thing that could have ever happen to Osama was for Dubya to invade Iraq. Saddam, as a secularist and socialist, was the arch-enemy of Osama & Co. Amazingly, Dubya took the bait!

By invading Iraq, Dubya has DESTABILIZED the entire middle east....especially those parts that Osama is interested in....like Saudi Arabia. And by invading Iraq Dubya has empowered the Shia....and by implication Iran, which almost gaurantees more Chaos.

DUBYA HAS MISTAKEN DESTABILIZATION FOR DEMOCRATIZATION! AND THAT IS THE GREAT FALLACY OF DUBYA AND THE NEOCONS.....

And now, Sharon has the Hutzpah to ask Dubya to take out Iran for him too before he withdraws from the West Bank.....! But what credibility does Sharon have now? He is a hunted man in his own country by all news accounts.

By "helping" Israel Dubya has put Israel on the brink of civil war....!

WHERE'S OSAMA? WELL, TOM, I THINK HE'S PROBABLY WATCHING CNN WITH A BIG SMILE ON HIS FACE!

And for that we can thank Dubya, Wolfie, Rummy, Condi, Rovey and perhaps also Friedman and the others who have been apologists for Dubya's Disasterous policies......

SINO-JAPANESE HOSTILITIES GROW....

Has the Battle for Asia begun......? Remember the DECLINE OF THE AMERICAN EMPIRE into Bankruptcy and Decay will have geopolitical consequences. This type of event always does!

AIR AMERICA......NPR ON A CAFFEINE HIGH?

Help for AM Hate Radio listeners.....give Rush the Brush. Fake it till you make it. Why? Because You don't have to be poor, sick and stupid all your life!

MARKET RALLYS ON FED MINUTES....?

This was one of the lamest oddballexcuses for a rally yet....! We have pure and simple DISTRIBUTION going on until after April 15.....then the deluge.

I look for a serious downturn around May 1st......the REAL NEWS is a disaster! The suckers are being set up for a fleecing they will never forget......just like last May! It's all so predictable....!

SHARON ASKS DUBYA FOR WAR WITH IRAN...?

Dubya gets his new marching orders......?

WHERE'S OSAMA.....?

FRIEDMAND ASKS IN THE NYTIMES....WHY NO ATTACKS BY OSAMA......?

Actually there is a more elegant way to look at the lack of further attacks by Osama...... Simply this:

Osama doesn't want to make trouble for Muslims currently living in America..... There are huge amounts of Muslim money invested in American businesses, in everything from professional practices to convenience stores and gas stations.

It is possible that Osama's attack on America was really an attack on American Jews, and the Israeli Lobby's influence in the US...... Sort of a warning shot across the bow, saying, in essence, we (Muslims) are HERE. And we count for something....get used to it.

In that sense, the 911 attacks were more like a Mob Hit between BIG MONEY interests who have "investments" in the US economy; than it was an "attack on Americans." Or an attack on the American system per se.

Very likely the Radical Muslims hate Jews more than they hate Americans......

The WTC was, to the Arab mind, more of a symbol of Jews in America, than a symbol of America itself.... And the Pentagon was a symbol of American military support for Israel.

I realize that this is not the accepted viewpoint....but, as Friedman notes....THERE SIMPLY MUST BE A REASON BEHIND OSAMA'S FAILURE TO ATTACK AGAIN.......