BERNANKE PROMISES TO PRINT MONEY FASTER!

GOLD NOW!

STOCKS AWASH IN LIQUIDITY CAN'T EXPECT FED ACTION...

IT IS TRUE THAT THE HOUSE BUBBLE HAS POPPED AND THOSE ASSETS ARE WORTH LESS NOW...BECAUSE PEOPLE CAN'T PAY THEIR DEBTS... BUT HOW WILL A RATE CUT HELP..? IT ONLY ALLOWS MORE PEOPLE TO TAKE OUT DEBTS THEY CAN'T PAY...!

BUT STOCKS ARE NOT DOWN... STOCKS HAVE RALLIED WILDLY ALL YEAR...

AND FOR THIS THEY WANT A RATE CUT...?

NONSENSE... AND EVERYONE KNOWS IT...

TIME FOR THE JOBS BIG LIE...THIS MONTH WILL SHOW 113,000 NEW "JOBS."

THE ONLY QUESTION IS WHICH OF THE USUAL SUSPECTS WILL DO THE HONORS IN AUGUST...

PROFESSIONAL SERVICES...? MAYBE.

GOVERNMENT...? HMMMM...

OR THE EVER POPULAR HEATH CARE... YES!

BUT WITH A LITTLE HELP FROM RESTURANTS AND BARTENDERS...

IF THE DECLINE IN RETAIL HIRING CONTINUES THAT COULD MEAN THAT THE RETAIL CONSUMER IS IN TROUBLE...

MANUFACTURING IS ALWAYS DOWN...NOTHING IS ACTUALLY MADE IN USA ANYMORE...

GDP AT 4% AND BERNANKE'S GOING TO LOWER RATES?? OH PLEASE!!

THE NOTION THAT BERNANKE IS GOING TO LOWER RATES WITH THE GDP AT AN INFLATIONARY 4% IS JUST NUTS...

WHY SHOULD HE SHOOT HIS WAD ON THE COME OUT ROLL... WHEN HE CAN MAKE A PLACE BET LATER BASED ON THE DATA THAT PRESENTS ITSELF...?

THIS IDEA THAT BERNANKE IS GOING TO LOWER RATES JUST TO SAVE THE STOCK BUBBLE AND THE XMAS/YEAR END BONUSES ON WALL STREET IS PURE LUNACY...

MARKETS TO CONFUSED TO CALL...

THE LAST TWO DAYS SHOW WHAT AN INSIDE GAME THE MARKETS HAVE BECOME...

SOME MARKET MASTERS ARE BEHIND THESE PLUNGES AND RALLIES... THERE IS MORE HERE THAN MEETS THE EYE...

AS LONG AS THE MACROECONOMIC FACTORS CAN STAY IN THE BACKGROUND...THIS MARKET CAN RALLY WILDLY AND UNPREDICTABLY...

REALITY BASED MACRO ECONOMIC NEWS IS THE BANE OF WALL STREET... EVEN THE SO CALLED CREDIT CRUNCH...WAS BEYOND THE ABILITY OF WALL STREET AND WASHINGTON TO CONTROL OR "SPIN"...

BECAUSE ONLY HYPE LIKE..."BEATING YOUR NUMBER" AND "BROKERAGE UPGRADES" ARE ON THE POSITIVE SIDE FOR WALL STREET... IF THE STREET CAN CONTROL THE NEWS...OR SPIN IT...THE MARKETS WILL RALLY. IF NOT...WELL...?

AND IT'S NOT EVEN CERTAIN THAT THE OLD STANDBYS OF "SHARE BUY BACKS" AND M&A ARE AVAILABLE UNDER THESE CONDITIONS.

MARKET BETS ON FED INFLATION...DOLLAR FREE FALL INEVITABLE!

THE NOTION THAT THE FED WILL BANKROLL ANY RALLY ON WALL STREET IS BACK IN FASHION...

THE LIQUIDITY OF LAST WEEK WAS NOT ENOUGH...NOW THE MARKET ACTUALLY WANTS A RATE CUT...TO REVIVE THE ASSET INFLATION IN GREENSPAN STYLE...

THEY WILL LIKELY GET THEIR RATE CUT... BERNANKE IS DOOMED TO FAIL NO MATTER WHAT HE DOES....THE BERNANKE FED WILL BE A TRANSITIONAL INSTITUTION...BEFORE THE DOLLAR COLLAPSE GETS TOO SERIOUS...

THE DOW IS STILL ON TRACK FOR 18,000 THIS YEAR...BUT ALAS, THE POOR DOLLAR WILL PLUNGE AND OIL WILL BREAK THE $100 BARRIER TO DO IT...

THE FED HAS SOLD OUT TO THE WALL STREET HYPE... NOTHING CAN PREVENT A DOLLAR FREE FALL NOW...

DOLLAR PLUNGE CONTINUES...

SINCE THE STREET CAN'T GET IT'S RATE CUT...THEY FIGURED...HELL...WE MIGHT AS WELL KEEP ON RALLYING...ON THE FED LIQUIDITY BUBBLE THAT WAS PROVIDED LAST WEEK...!!

RALLY ON...BUT DON'T EXPECT MUCH FROM THE DOLLAR OR OIL FOR THE REST OF THIS YEAR...

OIL AN GOLD SOAR...INFLATION IS BACK!!!

BYE BYE RATE CUT... HELLO INFLATION!!

MARKETS PROVE THEY DON'T NEED RATE CUT...

YESTERDAY'S FAKE "CRASH" WAS STRICTLY FOR FED CONSUMPTION...

THE BUBBLE IS ALIVE AND WELL...AND THE FED CAN DO NOTHING IN SEPTEMBER...

FUTURES SAY MORE DOWNSIDE TO COME...

BASICALLY WE'RE GOING TO GIVE BACK THE "SPRING LIQUIDITY" RALLY...

IT THAT SO HARD TO SEE...

DOW 12,000 IS THE NEXT RESISTANCE POINT...

WAKE ME UP WHEN IT GETS THERE....

HOMOSEXUAL US SENATOR SAYS HE'S "NOT GAY!"

ANOTHER QUEER CONSERVATIVE GETS CAUGHT...! WHEN IT COMES TO DEBAUCHERY NO ONE BEATS THE RELIGIOUS RIGHT...!

THAT'S WHY THEY NEED SO MUCH RELIGION IN THEIR LIVES...!

TO PREVENT THEIR "EVIL TWIN" FROM TAKING OVER...AND RUNNING AMUCK...

YET SOMEHOW WITH THESE RELIGIOUS HYPOCRITES THE EVIL TWIN ALWAYS GETS OUT... IN THE END...

BUSH PUSHING WAR WITH IRAN...AS IRAQ FALLS INTO TOTAL CHAOS!!

WELL MAYBE SONNY WILL HAVE BETTER LUCK WITH THE NEXT COUNTRY HE DECIDES TO INVADE...

BETTER HURRY THOUGH...END OF THE TERM IS COMING FAST...

AND THEN A WELL EARNED TRIP TO THE HAGUE FOR WAR CRIMES CHARGES...!! I THINK THEY'VE CLEANED UP SLOBO'S OLD ROOM BY NOW...

MARKET PANICS ON FED STATEMENT...

THIS PLUNGE TODAY LOOKS A BIT FAKE...

NOT THAT THE MARKET ISN'T WAY OVER VALUED...BUT THE MARKET PLUNGED ON LOW VOLUME ....AND THERE WERE NO OTHER DISRUPTIONS IN NORMAL TRADING.

GOLD AND OIL AND THE DOLLAR WERE QUIET...NO BIG ACTION... BONDS DITTO...

I SENSE THAT THIS CRASH WAS A ONE DAY EVENT THAT WAS TOTALLY PLANNED...BY THE MARKET MASTERS TO SEND A MESSAGE TO THE FED ABOUT THE NEED FOR LOWER RATES TO KEEP THE ASSET INFLATION GOING...

BUT THE FED SEEMS TO HAVE A PROBLEM WITH THE STREETS " ASSET INFLATION FOREVER" LOGIC...

THE FED RIGHTLY SEES THE ASSET INFLATION SPILLING OVER INTO THE REAL ECONOMY HAS GENERAL INFLATION...

ALSO THE DOLLAR IS ON THE FEDS MIND...ALTHOUGH THEY ARE PROHIBITED TO EVEN MENTION IT IN PASSING!!

SO THERE IS THE SEEN AND THE UNSEEN...

THE TEXT AND THE SUB TEXT AT WORK HERE...AS ALWAYS...

BUT I DON'T THINK THE MARKET MASTERS HAVE LOST CONTROL OF THE FREE FLOAT YET... SO THIS IS A CONTROLLED DECLINE...THAT IS MORE MESSAGE THAN REALITY...

MY HUNCH: THE FED KNOWS IT'S A HEAD FAKE...AND WILL NOT LOWER RATES IN SEPTEMBER...

THE RISKS OF LOWERING...AND HAVING A DOLLAR DISASTER...ARE GREATER THAN THE RISK OF LOWERING AND HAVING A MARKET DISASTER...

THE FED WILL KEEP THE STREET WELL LIQUIFIED... BUT IT WILL NOT LOWER RATES TO SAVE THE ASSET BUBBLE...LIKE GREENSPAN ALWAYS DID!!

MARKET TANKS ON LOW VOLUME...

THE 280 POINT DROP ON 1.3 BILLION SHARES TRADED IS HARDLY A HEAD LONG PANIC...

IN FACT IT LOOKS LIKE A SET UP BY THE STREET TO PANIC THE FED!!

THAT IS TO SAY, PANIC THE FED INTO LOWERING RATES IN SEPTEMBER...

BUT THE NOTION OF A FED BAILOUT OF THE ASSET BUBBLE ON WALL STREET AT A TIME WHEN THE DOLLAR AND DEFICITS ARE OUT OF CONTROL IS A PROBLEM...

BERNANKE IS RIGHTLY LOOKING AT THE POTENTIAL FOR A DOLLAR COLLAPSE...AND UNLIKE GREENSPAN, BERNANKE DOES NOT HAVE THE CUSHION OF A STRONG DOLLAR TO START WITH...

IT TOOK GREENSPAN DECADES TO SQUANDER THE HARD EARNED DOLLAR GAINS OF THE 1970'S AND EARLY 80'S FED POLICIES...

BERNANKE WILL HAVE TO BE THE NEXT VOULKER...NOT THE NEXT GREENSPAN...

THIS IS A REPLAY OF 1971...NOT 1987...!!

THE NEXT SHOE: CREDIT CARD DEFAULTS...!

FUTURES GRIM. BULLS WHIPPED? CRASH LOOMS!!

SARKOZY CHIMES IN...

IF THE NEW "FRENCH BUSH" WANTS TO BE A PLAYER...HE SHOULD PONY UP ABOUT 50,000 FRENCH TROOPS FOR IRAQ STABILIZATION...

MASSIVE HOME GLUT MEANS PRICE FREEFALL IS COMING...

GONZO GONE...

AT THIS POINT...WHAT DIFFERENCE DOES THIS MAKE... THE KOZ KIDS ARE HAPPY...BUT THEY TREAT POLITICS AS IF IT WERE A JUNIOR HIGH SPORTING EVENT... WITH AMERICA SWIRLING IN THE TOILET NOWADAYS...WE DON'T NEED CHEERLEADERS ON EITHER SIDE...WHERE ARE THE GROWN UPS...?

ARE YOU READY FOR THE "NEXT SHOE...?"

THE ONLY QUESTION IS DO WE DO A QUICK AND EASY ONE DAY CRASH...OF SAY 1000 POINTS...?

OR A SLOW BLEED TO GET BACK TO 10,000 ON THE DOW...?

THE HOUSE CRASH...OR, "THIS IS MY FLIP"!...

WHAT OUTSIDERS MAY NOT REALIZE IS THAT "HOUSE FLIPPING" BECAME A MAJOR PART OF THE US ECONOMY IN THE LAST FEW YEARS...

THERE WERE AT LEAST THREE CABLE TV SHOWS DEDICATED SOLELY TO "HOUSE FLIPPING"...! SORT OF "HOW TO..." PROGRAMS FOR POTENTIAL "FLIPPERS..." AND MOST OF THESE PEOPLE LIVED TO TOTAL FEAR OF HAVING TO MAKE THEIR "NEXT" OR EVEN "FIRST" MORTGAGE PAYMENT ON THEIR SUPPOSED "FLIP!!"

THE NOTION THAT YOU COULD MAKE 50,000 T0 100,000+...IN A FEW WEEKS BY "FLIPPING" HOUSES IS ONE BIG CAUSE OF THE CURRENT REAL ESTATE DISASTER...

MANY PEOPLE ARE SIMPLY WALKING AWAY FROM THEIR "FLIPS...!" AND, FLIPPING THE BIRD TO THEIR MORTGAGE HOLDERS...!

MARKETS FLOUNDERING INTO GLOOM...

IT SEEMS THAT EVERYONE IS JUST WAITING FOR REGIME CHANGE IN WASHINGTON NOW...SO WE CAN GET ON WITH A REALISTIC MACRO-ECONOMIC AND GEO-POLITICAL AGENDA...

A NEW PROGRESSIVISM THAT RECOGNIZES THAT THE FUTURE WILL NOT BE THE SAME AS THE PAST. THE AGE OF THE OLIGARCHS AND THE BUBBLES HAS FINALLY ENDED...IT'S JUST SINKING IN NOW.

THE REPUBLICAN SPIN MACHINE AND MARKET HYPE ISN'T WORKING ANYMORE... WHEN BUSH AND CHENEY ARE FINALLY OUT OF OFFICE THEY SHOULD BE ARRESTED AND SENT TO THE INTERNATIONAL COURT IN EUROPE FOR TRAIL ON THEIR MANY CRIMES AGAINST PEACE AND HUMANITY...

IN MANY WAYS THE US ECONOMY AND THE IRAQ WAR...ARE TWIN DISASTERS...JUST IN DIFFERENT AREAS OF GOVERNANCE...

BOTH REPRESENT WHAT HAPPENS WHEN YOU LET GREED AND IGNORANCE RUN THE SHOW FOR TOO LONG...

PROBABLY THE BEST THING THAT COULD HAPPEN ON WALL STREET AND IN WASHINGTON NOW WOULD BE A LARGE MARKET CRASH...

THE STENCH OF REPUBLICANISM NEEDS TO BE CLEARED FROM THE DISMAL SWAMP OF AMERICAN POLITICAL AND ECONOMIC DISCOURSE...SO WE CAN MOVE ON TO WHAT COMES NEXT...

FORD PLANT CLOSINGS CONTINUE...1000's OUT OF WORK!

REPUBLICAN BURGER FLIPPING JOBS LOOM FOR THOUSANDS OF WORKERS....

AMERICA'S TECH DECLINE CONTINUES APACE...

SELLING OFF THE FAMILY JEWELS IS A BAD SIGN...

CREEPING REALISM IN THE US...NOT CREEPING SOCIALISM.

THE REST OF THE WORLD VIEWS THE US AS PITIFUL AND DELUDED... THAT'S "WHY THEY HATE US..."

A LONG PERIOD OF PROGRESSIVE REFORM IS NEEDED TO PUT BALANCE BACK IN THE AMERICAN WAY OF LIFE...

ONE THING WE CAN DO FOR OPENERS IS SEND BUSH & CO TO THE INTERNATIONAL WAR CRIMES COURT FOR THE JUSTICE THEY DESERVE... THAT ACT ALONE WILL DO WONDERS TO REHABILITATE THE US IN THE EYES OF THE WORLD COMMUNITY.

DOW 10,000 BEFORE SPRING...

VERY LIKELY...AND THAT WOULD BE EVEN LOWER IF YOU CONSIDER THE DEVALUATION OF THE DOLLAR THAT HAS OCCURRED SINCE THE LAST TIME THE DOW WAS AT 10,000...

ALL SPECULATION MUST BE DRIVEN OUT OF THE MARKET...THE "SPRING LIQUIDITY RALLY" WITH THE M&A AND LEVERAGED BUY OUT FRENZY WAS A KEY WARNING SIGN THAT THE END WAS COMING...

ANY MARKET THAT IS GOING UP SOLELY ON DEBT AND BUY OUT MANIA IS HEADING FOR TROUBLE... THE SPRING RALLY DIDN'T EVEN HAVE THE NICE "STORY" THAT THE DOTCOM BUBBLE PROVIDED...

WALL STREET NEEDS A LONG LONG REST...SORT OF LIKE WHAT HAPPEN IN THE LATE 60'S AND 70'S...

BACK TO "BROWN BAGGING" IN THE FINANCIAL DISTRICT...!

REAL ESTATE COLLAPSE...WHO WOULD BUY NOW?

EVERYTHING WILL BE MUCH CHEAPER IN SIX MONTHS...

WE HAVE ONLY NOW BEGUN TO ACCEPT THE END OF THE REAL ESTATE BUBBLE...BUT PRICES ARE "STICKY" AND MAY TAKE YEARS TO ADJUST TO THE "FAIR RENTAL VALUE" PARADIGM THAT HAS TRADITIONALLY PREVAILED IN REAL ESTATE PRICING...

IS THE GAME OVER... ? REVERSION TO INCOME INVESTING LOOMS.

HAS THE GREAT AGE OF BUBBLES ENDED...?

I SUSPECT IT HAS...BUT IT LASTED A LONG LONG TIME...

REALLY SINCE 1982... THE RUN UP IN SPECULATIVE PAPER HAS BEEN ENCOURAGED BY THE FED AT EVERY TURN.

NOW THE EMPHASIS WILL BE ON RETURN ON INVESTMENT...IN CASH!...NOT IN PAPER ASSET INFLATION CAUSED BY EASY MONEY AND CREDIT...

YIELD IS KING NOW...IF IT DOESN'T PRODUCE AN "INCOME" WHY OWN IT...!!

REAL ESTATE WILL REVERT TO BEING VALUED FOR THE RENT PRODUCED... STOCKS BY THE DIVIDENDS PAID... AND BONDS BY THE COUPONS CLIPPED AND THE RISK ASSUMED...AS WELL AS THE INFLATION EXPECTED...

THERE MAY BE SOME INFLATION LOOMING IN THE REAL ECONOMY BECAUSE OF THE MASSIVE DEVALUATION OF THE DOLLAR THAT WAS NEEDED TO MAINTAIN THE BUBBLES OVER TIME.

AND THE US MAY HAVE TO START PROVIDING FOR IT'S CITIZENS...AND ALLOW THE "WAR BUDGET" TO REVERT TO MORE SUSTAINABLE AND REALISTIC LEVELS... BUT THE WORLD WILL BE A SAFER PLACE BECAUSE OF IT...

P/Es SHOULD REVERT BACK TO 10 TO 15 TIMES EARNINGS... A 20 P/E WAS CONSIDERED EXTREME EVEN DURING THE HIGH POINT OF THE 1929 BUBBLE...WE OFTEN FORGET THAT.

AND THE US WILL HAVE TO ACCEPT IT'S POSITION AS A LESSER ECONOMIC AND MILITARY POWER.

GLOBALISM WILL SUFFER...AND LOCAL ECONOMIES CAN SLOWLY REBUILT AFTER DECADES OF LOOTING BY THE WALL STREET ELITES...

SOMETHING IS ENDING THIS FALL...

EXACTLY WHAT IS BEGINNING IS AS YET UNCLEAR...

DOLLAR TANKING AGAIN...

SOMEDAY...140 ON THE EURO...AND THEN THE PAIR-A-DIMES SHIFT...AND BERNANKE WILL HAVE TO GET REAL ABOUT THE DEFICITS AND THE DOLLAR BUBBLE.

FUTURES LOOKIN'GRIM...

US BOMBS AFGHANS WITH BALLS OF BLASPHEMY!

REAL ECONOMY CHIMES IN ON WALL STREET...

SPIN IT, BABY...SPIN IT TILL YOU WIN IT!!

MALIKI SLAMS THE TWO SENATORS FROM ISRAEL: CLINTON AND LEVIN!!

MALIKI...THE NAUGHTY PUPPET...!

MAYBE MALIKI NEEDS THE SADDAM TREATMENT...?

BUT THE REAL PROBLEM IS THAT THE US IS OCCUPYING A COUNTRY IN WHICH THEY HAVE ABSOLUTELY NO NATURAL FRIENDS...ONLY NATURAL ENEMIES!!

AMERICA'S ONLY "FRIEND" IN THE REGION WAS SADDAM AND HIS SECULAR SOCIALIST BAATH PARTY...THAT'S WHY POPPY BUSH AND THE CIA PUT SADDAM IN POWER IN THE FIRST PLACE...! TO COUNTER-BALANCE IRANIAN SHIA...AND TO CONTROL THE KURDS!

MY HUNCH IS THAT AFTER THE "SURGE"...THE MORON BUSH WILL TRY TO "RE-BAATHIFY" IRAQ...AND PUT ANOTHER SADDAM LIKE STRONG MAN IN POWER...TO CONTROL THE SHIA AND THE KURDS...

BUT YOU KNOW SOMETHING...THAT IS EXACTLY WHAT WE HAD IN IRAQ

BEFORE THE WAR!!!!

THE SUNNIS: BUSH'S NEW CHUMS...!!

HAVING EMPOWERED THE IRANIAN LEANING SHIA IN IRAQ...DUBYA, THE MORON PRESIDENT, IS NOW FLIP FLOPPING TO THE SUNNIS...!

TOO BAD POPPY BUSH CAN'T GET HIS OLE CIA BUDDY SADDAM BACK IN POWER...TO HELP OUT SONNY BUSH!

(BUT ALAS, SONNY BUSH WAS TAKING HIS MARCHING ORDERS FROM THE ISRAELI LOBBY...AND SHARON...WHEN THE FATEFUL MISTAKE WAS MADE...

JUST AS OLMERT IS EVEN NOW URGING SONNY BUSH TO BOMB IRAN BEFORE HE LEAVES OFFICE...)

SO THE SUNNIS ARE BEING ARMED BY THE US FOR THE COMING FIGHT...PROBABLY WITH THE HELP OF THE SAUDIS AND OTHERS.

AMAZINGLY, WHERE BUSH SEEMS TO BE GOING IS TO THE SITUATION THAT EXISTED BEFORE THE WAR...! WITH THE SECULAR SUNNI BAATHISTS BACK IN POWER!

THE INCREDIBLE BLUNDER OF KICKING OUT SADDAM...ONLY TO EMPOWER THE IRANIAN BACKED SHIA...WHICH WAS THE REASON THE US CIA PUT SADDAM IN POWER IN THE FIRST PLACE... IS TRULY AMAZING...

THE NOTION OF STARTING A WAR...ONLY TO EMPOWER YOUR ENEMY WILL BE EXAMINED BY HISTORIANS FOR CENTURIES...

BUSH, THE MORON AND WAR CRIMINAL PRESIDENT, WILL COMPLETELY BAFFLE FUTURE HISTORIANS...

BUT BUSH WILL ULTIMATELY BE SEEN AS FINAL PROOF OF THE DECLINE OF AMERICAN CULTURE, ECONOMY AND DEMOCRACY INTO SECOND CLASS STATUS...

BY THE END OF THIS CENTURY...THE US WILL BE JUST ANOTHER LATIN AMERICAN-LIKE "DEMOCRACY"...RUN BY OLIGARCHS AND PLUTOCRATS AND THEIR "DEATH SQUADS"...EVEN WHILE IGNORANT AMERICANS WATCH THE ENTERTAINMENT EQUIVALENT OF "BRAZILIAN SOAP OPERAS"...AND "CAGE FIGHTING" ON TV...THE GREAT OPIATE OF THE MODERN MASSES...

THE DECAY OF AMERICAN CULTURE SURELY MAKES THE MOTIVATION OF MUSLIM SUICIDE BOMBERS AND JIHADI MORE UNDERSTANDABLE TO WESTERN THINKERS... CLEARLY, THESE JIHADI WANT TO AVOID "AMERICANIZATION" OF THEIR CULTURE AT ALL COSTS...!

WILL "THEY"..."FOLLOW US HOME"...?

ONE THE OF THE BUSHISMS THAT IS MOST OFFENSIVE TO RATIONAL THINKING IS THIS NOTION THAT IF WE "LEAVE IRAQ"...THAT "THEY" WILL "FOLLOW US HOME..."

WHO ARE "THEY"...? AND WHY WOULD OUR BEING IN IRAQ PREVENT THEM FROM "FOLLOWING US HOME" EVEN NOW....?

IT JUST MAKES NO SENSE...

ARE ALL OF OSAMA'S NASTY BOYS "TIED UP" IN IRAQ...BATTLING AMERICAN INFIDELS...?

AFTER ALL THE 911 TERRORISTS WERE ONLY 19 EUROPEANIZED MUSLIMS...MOSTLY FROM GERMANY VIA SAUDI ARABIA... "THEY" WEREN'T BARE FOOT IRAQIS OR AFHGAN "HILLBILLIES."

ARE ALL OF THE JIHADI "PINNED DOWN" IN IRAQ BY 160,000 AMERICANS...?

IS THE OSAMA JIHADI "ARMY" THAT DEPLETED OF HELP THAT THEY CAN'T SEND A FEW TO OUR HOMELAND TO DO MISCHIEF...? IT'S NONSENSE...

THE ANALOGY BEING USED BY BUSH IS ONE THAT ONLY APPLIES TO WARS BETWEEN NATION STATES WITH REGULAR MILITARY....NOT THE AD HOC "CELLS" THAT OSAMA IS USING...

WHY IS THIS LITTLE FALLACY IMPORTANT...? BECAUSE APPARENTLY A LOT OF AMERICANS ACTUALLY BELIEVE THIS BUSH BULLSHIT...THAT "IF WE LEAVE"..."THEY WILL FOLLOW US HOME...!"

INSTEAD OF "BIG LIES" BUSH AND THE NEOCONS ARE REALLY RESORTING TO SOMETHING COMPLETELY UNIQUE...

BIG BULLSHIT...!

AND OF COURSE THE US MEDIA JUST GOES ALONG...SO AS NOT TO OFFEND THEIR MASTERS IN THE AMERICAN LIKUD LOBBY....

MY HUNCH ON THE QUESTION OF "WHERE'S OSAMA?" IS THAT OSAMA IS SO "PLEASED" WITH WHERE HE HAS BUSH AND THE AMERICANS NOW...THAT HE DOESN'T WANT TO ROCK THE BOAT...

AND SINCE IT IS VERY UNLIKELY THAT ANY "NEW ATTACK" WILL MATCH THE HORROR OF THE WTC 911 ATTACK...OSAMA IS CONTENT TO LET THE AMERICANS DO A SLOW BLEED IN THE LANDS OF ARABY FOR THE INDEFINITE FUTURE.

WALL STREET BECOMING A "GAME"....

WALL STREET LATELY IS STARTING TO LOOK LIKE SOME KIND OF GAME THAT IS TOTALLY DETACHED FROM THE REAL ECONOMY...AND OFTEN FROM REALITY ITSELF...

THERE IS SIMPLY NO RATIONAL EXPLANATION FOR WHAT GOES ON...OTHER THAN THAT SOME HEDGIES ARE EXECUTING THEIR PROGRAM TRADES...AND RUNNING WITH THE HERD...

ECONOMIC REALITY ONLY "KICKS IN" AT THE EXTREMES... I HAVE OFTEN THOUGHT THAT THE ONLY TIME THE MARKETS ARE TRULY RATIONAL IS AT THE MARKET TOPS AND MARKET BOTTOMS...IN BETWEEN IT'S ESSENTIALLY IRRATIONAL TRADING...BASED ON SHORT TERM RUMORS...AND DAILY DATA POINTS THAT MAY OR MAY NOT HAVE ANY USEFULNESS IN DESCRIBING THE REAL ECONOMY.

FREE TRADE: A RACE TO THE BOTTOM.

THE NOTION THAT THE WINNERS UNDER GLOBALISM AND FREE TRADE WILL BE THOSE WHO HAVE THE CHEAPEST LABOR AND THE WORST ENVIRONMENT REGULATIONS IS JUST NOT TENABLE...

GLOBALISM WILL EVENTUALLY GIVE WAY TO THE MORE RATIONAL REALIZATION THAT ALL ECONOMIES ARE LOCAL...

AND THAT THE WINNER TAKE ALL RACE TO THE BOTTOM OF THE BARREL IS SIMPLY NOT SUSTAINABLE...

THE FREE TRADE NOTION OF "COMPARATIVE ADVANTAGE" SHOULD BE LIMITED TO THOSE THINGS THAT ARE TRULY UNIQUE IN AN ECONOMY...FOR EXAMPLE OIL IN THE MIDDLE EAST...OR BANANAS FROM CENTRAL AMERICA...

NOT CHEAP SLAVE AND CHILD LABOR IN THE FLITHIEST CONDITIONS POSSIBLE...

FREE TRADE THAT LACKS HUMANITY IS BARBARISM AND GREED...

PRESUMABLY, AFTER 2009 WE WILL START HAVING SERIOUS DISCUSSIONS ABOUT WHERE THIS IS ALL HEADING...

THE UNSUSTAINABILITY OF THE CURRENT SITUATION IS OBVIOUS... IF CHEAP LABOR MAKES THE WORLD GO ROUND...SOONER OR LATER THE WORLD WILL BE A VERY VERY MISERABLE PLACE INDEED!!

IS THE ENTIRE US ECONOMY "SUBPRIME...?"

SOONER OR LATER PEOPLE ARE GOING TO REALIZE THAT IT IS...! THE US ECONOMY IS A MACROECONOMIC BASKET CASE...

IT'S BEEN RUNNING ON FUMES...AND FED BUBBLES...FOR LITERALLY DECADES.

THAT COULD ALL BE ENDING...SOONER THAN MANY PEOPLE THINK...

THE NOTION OF CONTINUOUS SUBSIDIZATION OF AMERICAN CONSUMPTION BY FOREIGN CENTRAL BANKS AND INVESTORS IS STARTING TO CRACK...

WAMU NEXT TO TANK...?

GOLD STOCKS READY FOR BREAK OUT MOVE...?

WELL AT LEAST THEY AREN'T COMPLETE TURKEYS ANYMORE... WHILE GOLD...THE METAL...HAS BEEN BASHED CONTINUOUSLY...GOLD STOCKS HAVE REALLY BEEN HAMMERED BY THE FED SHILLS...

TILL RECENTLY ANYWAY...

BANK OF CHINA EATS SUBPRIME LOSSES!!

SERVES THEM RIGHT...! THEY SHOULD NEVER TRUST THE FED ON THE DOLLAR... NOT THIS FED ANYWAY.

YEN: GOOD OR EVIL...?

I SAY EVIL...

DISTRIBUTION MARKET...THE CHURN BEFORE THE CRASH AND BURN!

DOLLAR TANKS...GOLD AND OIL UP.

GOLD AND OIL UP IN 70'S....670 AND 70 RESPECTIVELY.

WHEN THE DOLLAR CRACKS 140 ON THE EURO...WILL BE THE TIME FOR A PARADIGM SHIFT...

BECAUSE EVENTUALLY THE DOLLAR WOULDN'T BE WORTH A PAIR A DIMES...YES, 20 CENTS IN TODAYS MONEY...

BULLS LATHER UP...

HOPING NO ONE DROPS THE SOAP BEFORE 4PM...

FAKE RALLIES....

STOCKS CALLED OBLIVIOUS...

SO ARE HAPPY DAZE QUEER AGAIN...?

THE NEW BLACK DEATH LOOMS...

WHAT THE CRUSADES DID FOR MEDIEVAL EUROPE...

THE CHINA TRADE WILL DO FOR AMERICA AND THE 21ST CENTURY WEST...

THIS IS SO INEVITABLE IT'S QUITE ODD THAT IT'S SELDOM MENTIONED...

PANDEMICS HAPPEN EVERY TIME WE "GO GLOBAL" FOR WHATEVER REASON. STAYING PUT AND STAYING LOCAL...HAS HUGE EVOLUTIONARY ADVANTAGES FOR CONTROLLING THE SPREAD OF DANGEROUS DISEASES....

THE 1919 FLU WAS THE DIRECT RESULT OF THE FIRST "GLOBAL" WAR FROM 1914 TO 1918...

WHAT WERE "CLUSTER" DISEASES...SUDDENLY GO GLOBAL...AIDS IS THE MOST RECENT BIG EXAMPLE

BUT, IN THE US AT LEAST...GREED WILL WIN...TO BE SURE.

DOLLAR IN CONTROLLED DECLINE...?

BUT IF YOU'RE INVESTING YOUR EUROS IN AMERICAN DOLLAR ASSETS...EXPECT TO BE TREADING WATER FOR A LONG LONG TIME...

WAMU NEXT TO FALL....?

IF REAL ESTATE SECURITIES ARE BAD...WHAT ABOUT SUB PRIME CREDIT CARD DEBT...?

THE DAZE OF GREENSPAN IS OVER...

BERNANKE WILL GET HIS BUBBLES THE OLD FASHION WAY...BY PRINTING MONEY!

DOW WILL SOAR TO 15,000 BEFORE HALLOWEEN!

PRINTING MONEY LIKE MAD CAN DO WONDERS...

AND AS LONG AS NO ONE CARES...THE BEAT GOES ON...

DOW 15,000 BY HALLOWEEN...

DOW 18,000 BY THE END OF THIS YEAR...!!

BUBBLE ON, DUDES...!

OF COURSE THE REAL ESTATE DEBACLE INVOLVING THE "GREAT UNWASHED" AND THE "FLIPPERS" WILL LANGUISH... BUT THE REAL SOURCE OF WEALTH FOR THE RICH IS THE STOCK AND BOND MARKET...AND HIGH END REAL ESTATE WILL PICK UP UNDER THE NEW FED FINANCED PAPER ASSET BUBBLE NOW FORMING...

BERENANKE SAVES THE CARRY TRADE...

THE CARRY TRADE IS THE REAL POWER IN THE GLOBAL ECONOMY...NOT THE FED...

THE STOCK BUBBLE IS BACK...!

THE FLOOD OF FED MONEY INTO WALL STREET HAS SAVED THE STOCK BUBBLE...AND MAY EVEN HELP THE CREDIT DEBACLE...

BUT THE DOLLAR WILL CONTINUE DOWNWARD AS IT MUST UNDER THESE CIRCUMSTANCES...

ESSENTIALLY THE CURE FOR A HYPER LIQUIDITY BUBBLE...IS EVER MORE LIQUIDITY...

THE BEAT GOES ON...THE VALUE OF THE DOLLAR MUST GO DOWN...GOLD AND OIL ARE SURE THINGS LONGER TERM...

FED SHILLS "PROVE" RATE CUT UNNECESSARY.

WITH THIS BUYING FRENZY BY FED SHILLS... A RATE CUT IS NOW UNNECESSARY...

THOSE WHO ARE BUYING ON THE RATE CUT TALK COULD BE IN SOME TROUBLE NEXT MONTH.

BUT THE POINT IS THAT THE DISCOUNT WINDOW IS OPEN...AND THE STOCK BUBBLE IS BEING RE-FLATED BY THE NEW LIQUIDITY POURING INTO WALL STREET...

BERNANKE KNOWS IT'S "BUBBLE OR NOTHING" FOR THE US ECONOMY...

SO THE BUBBLE IS BACK...AT LEAST ON DAZE WHEN THE CREDIT COLLAPSE IS NOT IN THE NEWS... WHAT THE CREDIT MARKETS PROVIDED LAST MONTH...THE FED DISCOUNT WINDOW WILL PROVIDE FOR THE DURATION OF THE US BUBBLE ECONOMY...

MY HUNCH IS THAT THE DOW COULD BE AT RECORD HIGHS BY THE NEXT FED MEETING...AND THAT WOULD GET BERNANKE OFF THE HOOK ON PROVIDING A RATE CUT...WHICH EVERYONE KNOWS HE CAN'T AFFORD TO DO ANYWAY...

TODAYS IMPRESSIVE PLUNGE PROTECTION SHOWS THAT FRESH LIQUIDITY FROM THE DISCOUNT WINDOW CAN...AND PROBABLY WILL...BRING BACK THE STOCK BUBBLE.

THE REAL ESTATE BUBBLE WILL NOT COME BACK...BUT THAT'S JUST THE TRADE OFF THE FED HAS DECIDED TO MAKE...

DOW 15,000 BY SEPTEMBER 18TH....IS VERY VERY POSSIBLE...IF THE FLOOD GATES OF MONEY STAY OPEN...FOR STOCK BUYERS...

AND THE CREDIT PROBLEMS CAN BE PUSHED TO THE BACK PAGES...

OF COURSE THE UNDERLYING PONZI SCHEME IS STILL IN PLACE...SO THE FED IS REALLY JUST DEVALUING TO THE DOLLAR...AND PUSHING UP INFLATION IN RETURN FOR "PEACE AND QUITE" ON WALL STREET TILL THE NEXT CRISIS ERUPTS...

BUSH IS PITIFULLY OUT OF TOUCH WITH REALITY.

BUSH IS PROBABLY TRYING TO GET A BELIEVABLE STORY GOING FOR ANY EVENTUAL WAR CRIMES CHARGES THAT HE MIGHT FACE...

HIS COMMENT ON BEING A "WAR PRESIDENT" IS DISGUSTING... HE STARTED THE DISASTER IN IRAQ AGAINST ALL BETTER ADVISE...JUST TO BE A WAR TIME PRESIDENT AND EVERYONE KNOWS IT... BUSH IS A MOCKERY OF ALL OF OUR PRIOR WAR TIME PRESIDENTS...

HE COULD ALSO BE THE FIRST EX-PRESIDENT PUT ON TRAIL FOR HIS VARIOUS FELONIES AND CRIMES WHILE IN OFFICE...

THE NOTION THAT BUSH STAGGERS OUT OF THE WHITE HOUSE IN JANUARY 2009 TO HAVE HIS MEMOIRS GHOST WRITTEN...AND THAT IS THE END OF HIS CULPABILITY...IS JUST NOT A CREDIBLE OUTCOME...

THERE WILL BE POST-PRESIDENCY ISSUES THAT HOUND BUSH & CO FOR YEARS TO COME...

TROUBLE AT CITI....?

THE DISCOUNT WINDOW IS NO PLACE FOR MAJOR PLAYERS...? IS IT "PATRIOTIC" BORROWING...! LOL!

"FROZEN" DOW WILL PLUNGE AFTER 2PM....

THIS EARLY DOW CHART LOOKS FAKE... PURE DISTRIBUTION.

THERE ARE SHILLS AND PROGRAM TRADES "FREEZING" THE DOW AT 13,2000...

THE DOW WILL LIKELY PLUNGE AFTER 2PM.... THERE IS REALLY NO REASON TO RALLY AT THIS POINT...

GOLD AND GOLD STOCKS ARE A NO-BRAINER NOW.

GOLD AND GOLD STOCKS HAVE BEEN TIGHTLY CONTROLLED BY THE MARKET MASTERS...SO FAR.

BUT THE MARKET MASTERS NOW HAVE OTHER WORRIES ON THEIR PLATE AND I SUSPECT THAT THE "GOLD BASHING" WILL BE SEEN AS A BACK BURNER TRADE GOING FORWARD...

THE BOND MARKET WILL BE MORE THE FOCUS OF ATTENTION. KEEPING GOLD "IN IT'S BOX" WILL BE A SECONDARY ISSUE AS THIS CRISIS CONTINUES INTO THE FALL...

ADDITIONALLY, THE EFFORTS BY FED SHILLS TO BASH GOLD HAS MAKE IT "CHEAP" BY ANY REASONABLE MEASURE... GOLD SHOULD BE AT 800 NOW...BUT FOR THE BASHING...

BERNANKE WILL NOT CUT FED FUNDS IN SEPTEMBER.

THAT IS A BANKABLE PLAY... THE SERIOUS COMMENTARY...NON-CRAMER STYLE...IS TOTALLY AGAINST ANY "PANIC" BY THE FED IN SEPTEMBER...

ANOTHER DISCOUNT RATE CUT IS SEEN AS MORE LIKELY...

THE NEW M&A....FOREIGNERS DUMPING DOLLARS FOR US HARD ASSETS...?

IF FOREIGNERS WANT TO PRESERVE THEIR DOLLAR STASH...THEY HAD BEST START BUYING US ASSETS ASAP...

THE DOLLAR IS GOING TO BE DEVALUED BY THE BERENANKE FED...IT'S THEIR ONLY OPTION NOW.

FOREIGN BOND HOLDERS SHOULD CASH IN...AND START BUYING DOLLAR DENOMINATED "REAL" ASSETS BEFORE THE FED'S INFLATION KICKS IN...LATER THIS YEAR.

BERNANKE SETTING UP NEXT BUBBLE...?

AN INFLATIONARY MONETARY POLICY WILL EVENTUALLY BACKFIRE ON THE ECONOMY...THE RETURN OF HIGH RATES AND STAGFLATION IS PREDICTED.

BUT CAN THE AMERICAN PUBLIC "SETTLE FOR" A WEAKER DOLLAR...IN RETURN FOR NOMINALLY HIGH STOCK, REAL ESTATE AND ASSET PRICES... THAT DEPENDS ON THE WILLINGNESS OF CHINA AND OTHERS TO CONTINUE ACCEPTING THE DEVALUED DOLLAR "AT PAR"...

THE NOTION OF AMERICAN EXCEPTIONALISM IS REALLY ON THE BLOCK NOW... MY HUNCH IS THAT WE ARE SEEING A TRANSITION PHASE AWAY FROM THE DOLLAR...MUCH LIKE WHAT HAPPEN IN THE 1930-1950 PERIOD WHEN THE UK POUND BECAME A SECOND CLASS CURRENCY.

THE ABANDONMENT OF BRETTON WOODS IN 1971 SET IN MOTION A SERIES OF UNFORTUNATE EVENTS WHICH GAVE US THE CRISIS OF THE 70's INFLATION...

WHEN DEVALUATION BECOMES THE POLICY OF MAJOR CENTRAL BANKS...TROUBLE IS ASSURED.

I WOULD EXPECT GOLD AND OIL TO GO UP...AND AMAZINGLY STOCKS TO HOLD NOMINALLY HIGHER BASED SOLELY ON THE DOLLAR'S DEVALUATION.

WE ARE ALL GOING TO BECOME "ITALIAN MILLIONAIRES!"

THE "KEYSTONE" OF THE GLOBAL ECONOMY HAS BEEN REMOVED.

THE GREAT DOLLAR BUBBLE IS FINALLY ENDING...

THE DOLLAR WAS THE KEYSTONE OF THE GLOBAL ECONOMY HAS WE HAVE KNOWN IT...

EVERYONE KNEW THAT WE WERE LIVING IN AN "ECONOMIC ANOMALY"...IT WAS ALL BASED ON THE "EXCEPTIONALISM" OF THE US DOLLAR... AND FOR A WHILE IT WORKED...

CHINA WAS WILLING TO ACCEPT THE DOLLAR "AS IF" IT WERE REALLY GOLD...AND NOT JUST PAPER...

TRADE FLOWED...CONSUMPTION ABOUNDED...CREDIT CARDS FILLED AND RE-FILLED AND WERE REFI-ED WITH HOUSE EQUITY MONEY...

HOUSE VALUES BECAME A PONZI SCHEME NOT UNLIKE THE TULIP MANIA, OR THE SOUTH SEAS BUBBLES OF THE 1720'S...

THE ELITES PLUGGED THE GAPS FOR A WHILE...OFTEN WITH THEIR OWN MONEY. AND SOMETIMES JUST HAPPY TALK TO EACH OTHER AND THE MASSES. EVERYONE BELIEVED. EVERYONE DRANK TO KOOL AID

THEN AMERICA AND CHINA DEVELOPED THEIR "SPECIAL RELATIONSHIP"...AMERICANS MADE NOTHING AND CONSUMED EVERYTHING...

CHINA AND INDIA BECAME "THE FACTORY" FOR THE NEW GLOBAL ECONOMY....

IT WAS 1890's REDUX WITH CHINA SPEWING GOODS AND TOXINS FAR AND WIDE... CHINA HOARDED WORTHLESS DOLLARS.

CAPITAL RULED...AND LABOR WAS WORTH NEXT TO NOTHING...

IT WAS A NEW "GILDED AGE"....BILLIONAIRES ABOUNDED....EVERYONE HAD A RIGHT TO BE RICH...JUST PLAY THE STOCK MARKET AND INVEST IN YOUR 401K...AND YOU TOO WOULD HAVE MILLIONS IN THE BANK...

NOW... THE KEYSTONE HAS BEEN REMOVED...

SLOWLY SLOWLY THE STONES OF THE GREAT ARCH OF PERPETUAL PROSPERITY ARE STARTING TO SHIFT...OMINOUS GRINDING NOISES ARE BEING HEARD DEEP DOWN INSIDE THE GIANT CONSTRUCT...

THE LINES OF FORCE ARE BEING RE-DIRECTED...AND CENTER OF GRAVITY IS SHIFTING...

THE KEYSTONE IS GONE...

GLOBAL DEBT AND DOLLAR BUBBLE EXPOSED!

AMERICA'S "MIRACLE CONSUMER" EXPOSED!!!

IT WAS ALL BEING FINANCED BY WALL STREET'S ABILITY TO PASS THEIR "DEADBEAT" BUCKS ON TO THE FOREIGNER SUCKERS...!

WELCOME NON US VIEWERS...

HERE AT GLOOM AND DOOM WE DEFINE THE TERMS OF THE DEBATE...

THE OTHERS ONLY SHILL FOR THEIR "POSITIONS....!" AND PROTECT THEIR ASSES!

STAY TUNED...IT'S GOING TO GET INTERESTING. THIS IS THE BIG ONE...!

OIL DECLINES WITH CAT 5 HURRICANE IN THE GULF...

HOW FAKE IS THAT....? BILLIONS IN PLUNGE PROTECTION AND PROGRAM SHILLING STILL AT WORK...!

MS. MARKET GIVES BERNANKE A "PITY FUCK."

A DECLINE TODAY WOULD HAVE BEEN DEVASTATING... HENCE THE LATE "RALLY."

BUT THAT DOES NOT MAKE A MARKET... THE US MSM IS STILL TRYING TO GET THEIR STORY STRAIGHT ON THIS "CREDIT CRUNCH"...

BONDS UNCERTAIN ON FED'S ASSET PANIC!

MSM SHOCKED BY FED FAILURE ON WALL STREET...

MUMS THE WORD ON TODAYS MARKET FLOP BY THE FED...

SORT OF LIKE THE BOSS WALKING IN DRESSED IN A TUX WITH HIS ZIPPER DOWN...

THE TRUTH GAP IN AMERICA....

AT TIMES LIKE THESE THE "TRUTH GAP" IN AMERICAN CULTURE REALLY STANDS OUT.

AMERICANS ARE NOT TOLD THE WHOLE TRUTH BY THEIR MAINSTREAM MEDIA... EVERYONE "IN THE KNOW" REALIZES THIS.

THE ENTIRE SYSTEM IS SET UP SO THAT THE ELITE VIEWPOINT IS SEEN AS "MAINSTREAM."

THUS YOU'LL HEAR POOR WHITE TRASH IN "RED STATES" --WHO SUPPORT THE "WALL STREET (JESUS) AGENDA"...AND REALLY DON'T KNOW ANY BETTER.

THE PROGRESSIVE AGENDA IS NEVER TOLD AS A VIABLE OPTION... AND ANY ATTEMPT TO ADVOCATE FOR PROGRESSIVE/LIBERAL POLICY CHANGES ARE ONLY ALLOWED IF THEY ARE DONE BY "OBVIOUS LOSERS"...AND POLITICAL "CLOWNS" WHO ARE NOT REALLY A THREAT TO THE ELITES.... THINK PEOPLE LIKE ROSS PEROT AND DENNIS KUCINICH HERE.

AMAZINGLY AMERICAN INTELLECTUALS ARE FORCED TO GO ALONG...OR NEVER GET ASKED AGAIN...! HENCE THESE PROFESSORS WHO ARE ALWAYS SUPPORTING THE BUBBLES AND THE TAX CUTS FOR THE RICH... THEY KNOW WHAT SIDE THEIR TENURE AGREEMENT IS BUTTER ON...!

STILL MORE AMAZING IS SEEING REASONABLY INTELLIGENT AMERICANS...WHO ARE NOT WILLING TO ACCEPT EVERYTHING ON FAITH...TRYING TO ARTICULATE THE OFFICIAL POLICIES IN WORDS THAT THEY THEMSELVES CAN RATIONALIZE... HERE SEE THE LAID OFF MANAGER TRYING TO EXPRESS THE WONDERS OF FREE TRADE...

OF COURSE THE RIFF RAFF ARE NOT ALLOWED TO EXPRESS OPINIONS TOO OFTEN...AND EVEN THEN ONLY IF THEY STICK TO THE MAINSTREAM ELITES VIEW...OR ARE BLACKS WHO AGREE TO ACT CRAZY FOR THE CAMERAS..

ONCE THESE FOLK DEVIATE OR START MAKING SENSE...WELL, THEY ARE CUT OFF FOR A COMMERCIAL MESSAGE...ASAP!

LOL... LIES ARE WONDERFUL, AND BIG LIES ARE EVEN BETTER...

BUT EVERY SO OFTEN...THE LIARS GET CAUGHT...THERE IS ALWAYS AN END TO THE BIG LIES AND THE PONZI SCHEMES... WHAT IS AMAZING IS THAT ANYONE THOUGHT THAT BIG LIES WERE VALID MACROECONOMICS...

SORT OF LIKE WALL STREET AND THE FED TODAY...!

BETTING AGAINST THE CARRY TRADE...

I'D BET THAT A FEW HEDGIES ARE GOING LONG THE YEN...AND SHORT THE DOLLAR ABOUT NOW...

THE CARRY TRADE UNWINDING SEEMS TO BE A MACROECONOMIC NO BRAINER.

FED: SANTA OR WHORE ON WALL STREET...?

HO! HO! HO!

WHAT DESPERATE BEN MISSED IS THAT A TOUGH LUV STAND IS BETTER THAN ALWAYS TRYING TO PLEASE THE GREED KIDS ON THE STREET...

SORRY GOOD MACRO ECONOMIC POLICY DOES NOT INCLUDE BILLION DOLLAR A YEAR BONUSES FOR "GOOD SPECULATIONS".....BY THE INTERNATIONAL CAPITAL ELITES AND THEIR HEDGE FUNDS.

DESPERATE BEN'S CREDIBILITY WAS SERIOUSLY DAMAGED BY HIS LURCH INTO PANIC MODE ON FRIDAY...BECAUSE AS THEY SAY:

NOW WHAT....??

WALL STREET IS STILL SHIT...ONLY NOW IT'S MORE "LIQUID!"

YUCK...!

NO BIG RALLY! FED IS TOO COMPROMISED TO BE BELIEVED!

SORRY DESPERATE BEN.... YOUR CREDIBILITY IS FINISHED...!

DOLLAR PLUNGE STARTS AGAIN...!

NOW THAT DESPERATE BEN IS IN PANIC MODE...THE DOLLAR COULD BE AT 140 BY FRIDAY...!

CREDIT INFECTION SPREADS TO CD's AND MONEY MARKETS?

IS THE YEN CARRY TRADE MORE IMPORTANT THAN THE FED?

I WOULD SAY YES...! AND THAT IS A BIT SCARY...

AND AMAZINGLY THE YEN SEEMS TO BE THE WIPING BOY FOR THE DOLLAR!

THE MORE INFLATIONARY THE FED BECOMES ON THE DOLLAR...THE "BETTER" THE GLOBAL ECONOMY IS...AND THE MORE WILLING INTERNATIONAL CAPITAL IS TO BORROW YEN FOR THEIR GLOBAL SPECULATIONS.... THE ASSUMPTION SEEMS TO BE THAT THE WEAKER THE DOLLAR BECOMES...THE YEN WILL BE EVEN WEAKER...

GO FIGURE...

THE DOLLAR-YEN-CHINA CONNECTION IS A RUBE GOLDBERG DEVISE THAT MUST NEVER BE ALLOWED TO FAIL...!

KRUGMAN SEES NEW "BANK RUNS."

THE MIRACLE OF THE MULTIPLIER EFFECT IN CREDIT CONTINUES...

THE DEREGULATION OF CREDIT MARKETS IS REALLY BEHIND THE CURRENT CRISIS.

JUST AS THE 1930's PRODUCED A HUGE AMOUNT OF BANKING REGULATION...SO TOO THE CURRENT CRISIS WILL RE-INSTATE MANY OF THE OLD 1930's RULES...

EVERY GENERATION HAS TO RE-LEARN THE PITFALLS THAT PAST GENERATIONS TRIED TO PREVENT... WHY? WELL, PERHAPS, YOUTH IS INHERENTLY IGNORANT...AND THAT IS THE REAL BASIS OF CYCLES...THE PERILS OF OVER-EXPANSION MUST BE RELIVED EVERY 50 YEARS OR SO...

ELITES BAILED OUT...?

BUT WILL THE RETAIL SUCKERS HAVE A PLACE IN BERNANKE'S LIFE BOATS....?

ISRAEL LOBBY WILL FORCE BUSH TO BOMB IRAN BEFORE HE LEAVES OFFICE.

THAT'S WHY ROVE LEFT THE WHITE HOUSE ASAP... ROVE IS TOO SMART TO GET INVOLVED IN ANOTHER MASSIVE WAR CRIME...

IF YOU SAW ROVE'S INTERVIEWS ON THE SUNDAY TALKS...PLEASE NOTE HOW HE SEEMED TO IMPLY THAT HE "KNEW" SOMETHING BIG WAS COMING.

HIS BODY LANGUAGE GAVE AWAY BUSH'S "NEW WAR PLAN" TO ALL WITH THE INSIGHT TO SEE IT!!

MY HUNCH IS THAT ROVE WANTS TO HAVE A "KISS AND TELL" BOOK BEFORE THE BUSH ADMINISTRATION IS OUT OF OFFICE...AND THUS INSULATE HIMSELF FROM THE COMING WAR CRIMES TRAILS THAT WILL SURELY FOLLOW BUSH & CO BACK TO TEXAS...

PREDICTION: AFTER BUSH IS OUT OF OFFICE HE WILL MOVE TO THE "HOLY LAND" TO AVOID EXTRADITION TO EUROPE FOR HIS TRAILS...AND ALSO TO BE CLOSER TO JESUS...!

BERNANKE'S BUBBLE OR NOTHING PLAY QUESTIONABLE!!

WITH AN ECONOMY THAT IS WRACKED BY INFLATIONARY PRESSURES...THE FED OPTED FOR AN INFLATIONARY "SOLUTION" TO THE MARKET SWOON...TO PRESERVE THE ASSET BUBBLES...EVEN WHILE INFLATION IS SPILLING INTO THE REAL ECONOMY EVERYDAY...

BERNANKE MUST LEARN THAT THE US ECONOMY IS ONE BIG ASSET BUBBLE... ASSETS VALUATIONS ARE ALL THE US HAS GOING FOR IT... THERE IS NO REAL "MANUFACTURING" GOING ON EXCEPT IN THE MILITARY AREA...WHICH IS TOO SENSITIVE TO SEND TO CHINA...

THE "JOBS" THAT ARE BEING "CREATED" IN THE US ARE ALL LOW PAID SERVICE SECTOR JOBS... MOST ENGINEERING AND IT WORK IS BEING DONE IN INDIA OR ASIA NOWADAYS...

SO THERE IS VERY LITTLE THAT CAN BE DONE TO STOP THE COMING WEAKENING OF THE DOLLAR...THE MOST THE FED CAN DO IS SLOW IT DOWN A BIT WITH BIZZARO HEAD FAKES...AND DOLLAR DEVALUATIONS THAT ARE HIDDEN BY TEMPORARY GOLD AND OIL BASHING...

BERNANKE IS IN A LOSE-LOSE SITUATION... HE REALLY HAS BEEN GIVEN NOTHING TO WORK WITH... THE US ECONOMY IS A HOLLOW SHELL OF IT'S FORMER SELF...THERE IS NO WAY THE MASSIVE DEFICITS IN TRADE AND DOMESTIC/DEFENSE SPENDING ARE STOPPED NOW....

ALL THAT CAN BE HOPED FOR IS THE "ILLUSION" OF STABILITY AND A HOPE THAT THE IGNORANT AMERICAN PUBLIC WILL REMAIN APATHETIC TO DECADES OF LOOTING IN THE US ECONOMY BY THE INTERNATIONAL CAPITAL ELITES AND THEIR PAID STOOGES IN WASHINGTON AND NEW YORK...

THE AMERICAN PEOPLE ARE VERY VERY STUPID TO BE SURE... BUT I'M NOT SO SURE THEY ARE AS STUPID AS WALL STREET AND WASHINGTON HOPE THEY ARE....

LONG BONDS PLUNGE ON INFLATIONARY FED MOVES!

THE BERNANKE FED MOVED TO AN INFLATIONARY POLICY FRIDAY AT IT'S PERIL...

AND ALAS, THE RECENT "RALLIES" WILL BE VERY SHORT LIVED BECAUSE OF BERNANKE'S DECISION TO IGNORE OBVIOUS MACROECONOMIC REALITIES.

BUT BERNANKE IS UNDER PRESSURE FROM THE LIKES OF CRAMER & CO...TO SAVE THE ASSET BUBBLES AT ALL COSTS...

THE PROBLEM BEING YOU CAN'T HAVE ASSET INFLATION FOREVER...EVENTUALLY IT CREEPS INTO THE REAL ECONOMY IN THE FORM OF HIGHER COMMODITY PRICES AND/OR A WEAKER DOLLAR...

ATTEMPTS WILL BE MAKE TO GIVE THE "ILLUSION" THAT THE DOLLAR AND COMMODITIES ARE "OK" WITH THIS MOVE BY THE FED...

BUT ALAS, CREATING ILLUSIONS IS NOT THE FEDS JOB...

THE DOLLAR WILL NOT BE "OK" WITH THE CURRENT FED POLICY IT WILL BE "OD-ed" BY IT....

I SENSE THAT WALL STREET AND INTERNATIONAL CAPITAL REALIZE THAT THIS IS NOT A SOLUTION...BUT RATHER AN ATTEMPT TO ALLOW THE ELITES TO GET ON THE "LIFE BOATS" BEFORE THE GREAT UNWASHED ON WALL STREET AND MAIN STREET...

LAST BEST SELLING OPPORTUNITY MAY BE THIS WEEK...!!

YEN CARRY TRADES UNWINDING FASTER....

ONE "BENEFIT" FROM BERNANKE'S MOVE FRIDAY IS THAT THE YEN CARRY TRADES CAN BE UNWOUND FASTER...AS THE DOLLAR WEAKENS EVEN MORE AGAINST THE NOW "MIGHTY" YEN...!

THIS OF COURSE WILL MEAN SELLING THE ASSETS THAT WERE BOUGHT WITH THE "CHEAP YEN" IN THE FIRST PLACE...AND THAT MEANS MORE SELLING OF STOCKS, JUNK BONDS, REAL ESTATE AND OTHER ASSETS FAVORED BY INTERNATIONAL CAPITAL WHICH HAS DEPENDED ON THE MAGIC OF THE YEN CARRY TRADE FOR YEARS...

IF THE YEN CARRY TRADES ARE FINISHED...LOOK FOR EVEN MORE MARKET DECLINES TODAY AND IN THE DAZE TO COME...

HOUSING PLUNGE WILL BE THE HIGHLIGHT TOMORROW...

THE HOUSING PLUNGE WILL BE BIGGER THAN EXPECTED...AND THE MARKET SHOULD TANK AFTER THE NUMBER IS RELEASED...

THE MANUFACTURING DATA IS PITIFULLY IRRELEVANT NOWADAYS...

AND THAT IS THE REAL UNNOTICED PROBLEM...ISN'T IT....?

THE US IS AN ECONOMY THAT SPECULATES IN ASSET VALUES...BUT DOES NOT ACTUALLY PRODUCE "THINGS' ANYMORE...

WELCOME DAZED AND CONFUSED GLOBAL INVESTORS!!

THIS IS THE PLACE....!!

BOOKMARK THIS PAGE NOW AND COME BACK DAILY FOR WHAT WILL BE AN INTERESTING LATE SUMMER AND EARLY FALL IN THE GLOBAL FINANCIAL MARKETS...

G&D....ALWAYS ON THE CUTTING EDGE...

DON'T WAIT FOR THE COPY CAT MAINSTREAM MEDIA TO "THINK IT THROUGH" ....IT TAKES THEM FOREVER TO COME UP WITH THE OBVIOUS! AND THEY NEVER THINK OUTSIDE THE BOX...!

COME HERE FOR THE CUTTING EDGE...WHILE IT'S STILL THE "REAL EDGE" OF MARKET ANALYSIS...

RALLY WILL BE SHORT LIVED....

THIS IS AN EXCELLENT SELLING OPPORTUNITY...

THIS MARKET IS NOT DEALING WITH THE REAL ISSUES...AND IT NEVER WILL.

THE TOTAL DE-INDUSTRIALIZATION OF THE US ECONOMY AND THE COMPLETE DEPENDENCE ON SPECULATION IN ASSET VALUES WITH A CURRENCY THAT IS MARGINAL AT BEST...IS THE REAL PROBLEM...

THE MARKET MAY MANAGE A FEW DAZE OF DISTRIBUTION...BUT ANY RALLIES SHOULD BE SOLD ASAP....

BERNANKE'S DESPERATE MOVE ON FRIDAY HAS SOLVED NOTHING... THERE MAY BE ANOTHER RALLY ON MONDAY BUT IT WILL NOT LAST THE DAY...

MY HUNCH IS THAT THE MARKET MASTERS WILL SETTLE FOR A "DISTRIBUTION DAY" WITH THE DOW...+ OR - 20 POINTS AT THE END...

THERE IS A POSSIBLE BIZZARO MOVE AFTER 3PM...BY THE PROGRAM TRADERS BUT THESE ARE NOT REAL VALUATIONS...AND CAN BE IGNORED...

ANY RALLY ON MONDAY WILL BE SHORT LIVED...BECAUSE WHAT HAS CHANGED...???

NOTHING!! THE FED IS PRINTING MONEY LIKE MAD...

BUT ALAS, GENTLE READER....THAT IS NOT NEW!!!

BARRON'S BASHES CRAMER...

CRAMER IS REALLY A SUMMARY OF WHAT'S WRONG WITH THE AMERICAN FINANCIAL SYSTEM...

AND WHY EVERYONE WHO INVESTS IN THE US DOES SO AT THEIR OWN RISK!

SADLY....CRAMER IS THE ONLY TRUE EMBODIMENT OF THE AMERICAN MARKETS!!

CRAMER IS THE DOW!! DEAL WITH IT! CRAMER CONTROLS THE FED...! AND THAT IS SCARY!!

BARRON'S ON BERNANKE...

BERNANKE SHOULD SHUN "GREENSPANIAN" QUICK FIX SOLUTIONS TO MONETARY PROBLEMS...?

I AGREE...THE GREENSPAN YEARS CAN NEVER BE REVISITED OR RESTORED...THEY WERE AN ABOMINATION OF CENTRAL BANKING PRACTICES...!

HERE COMES DEAN...!

OIL PRICES SHOULD SOAR ON MONDAY...

THE FED STATEMENT: They see...Deterioriation! Downside! Disruptions!

What the FED Said:

Financial market conditions have deteriorated, and tighter credit conditions and increased uncertainty have the potential to restrain economic growth going forward. In these circumstances, although recent data suggest that the economy has continued to expand at a moderate pace, the Federal Open Market Committee judges that the downside risks to growth have increased appreciably. The Committee is monitoring the situation and is prepared to act as needed to mitigate the adverse effects on the economy arising from the disruptions in financial markets.

BERNANKE GIVES CONSTIPATED CREDIT MARKET A LAXATIVE!

BUT WILL THE SHIT NOW START FLOWING AGAIN...? OR WILL IT SIMPLY "HIT THE FAN?"

I DON'T SEE IT... OVER PRICED ASSETS ARE ONLY GOING TO "SELL" IF YOU DEVALUE THE DOLLAR...

STAY TUNED ALL THIS WEEK...IT'S GOING TO GET INTERESTING...!!

LIQUID SHIT IS STILL SHIT....

BERNANKE'S ATTEMPT TO "LIQUIFY" THE CONSTIPATED CREDIT MARKETS IS REALLY NOT THE RIGHT ANSWER...

LIQUIDITY IS LIQUIDITY IS LIQUIDITY...AND IT CAN CAUSE MORE PROBLEMS THAN IT SOLVES.

CONSIDER:

THE MARKETS ARE AWASH IN OVERPRICED ASSETS THAT HAVE BEEN RUN UP BY THE PRIOR HYPER-LIQUIDITY EPISODES...AND NOTHING WILL CHANGE THAT...

WILL BANKS BE ABLE TO SELL OVER-PRICED ASSETS JUST BECAUSE THEY HAVE MORE ACCESS TO READY CASH FROM THE FED...? I DON'T THINK SO...

LIQUID SHIT IS STILL SHIT...

ASSET PRICES MUST ADJUST DOWNWARD...OR THE DOLLAR MUST ADJUST DOWNWARD TO REFLECT THE NEW "PROTECTED" ASSET PRICING SCHEME THAT THE FED ANNOUNCED ON FRIDAY...

MY HUNCH IS THAT THE DOLLAR WILL PLUNGE...TO SAVE THE NOMINAL ASSET PRICES THAT ARE ALREADY IN PLACE...

GOLD AND OIL OR THE EURO ARE THE ONLY PLACES TO HIDE FROM THE INSANITY AT THE FED.

MARKET WILL PLUNGE ON MONDAY!!!!

BAIL OUT!

DOLLAR PLUNGE!!

CATASTROPHIC POLICY!

BUY GOLD NOW!

BUY!

GOLD!

BERNANKE SUCKS!

HE WILL RUE THIS DAY....

THE DOLLAR WILL PLUNGE.........


INFLATION WILL SOAR....!

SELL THE DOLLAR NOW!!


SELL ALL STOCKS NOW........!!!

SELL EVERYTHING FOR CASH...AND CONVERT TO EUROS!

IT'S OVER THE THE US IN THE GLOBAL ECONOMY...

CHINA CAN BUY THE US....AND SELL THE US... FOR PEANUTS...A/K/A THE US DOLLAR!

ROVE: ENTERS THE PANTHEON OF THE OVERRATED.

IT'S NOT THAT ROVE WAS SO GOOD... IT'S THAT THE DEMOCRATS WERE SO BAD. ROVE GAVE US OUR "FOX NEWS" MOMENT...AND NOW IT'S OVER. AND WE'LL BE PAYING THE PIPER ON THIS ONE FOR A LONG TIME TO COME...

FUTURES LOOK GRIM....

BERNANKE SIMPLY HAS TO QUIT BEING SO ANAL...FLUSH THE TOILET ALREADY...LETS GET IT OVER WITH....

A HALF TRILLION PUMPED INTO ECONOMY...AND THIS IS ALL WE GET...?

PITIFUL....!

CHINA'S COMING HYPER-INFLATION....!

PUBLIC SECTOR PENISON FUNDS: THE "NEXT SHOE" TO FALL

THE USE OF PUBLIC PENSION MONEY BY THE HEDGE FUNDS AND "PRIVATE EQUITY" IS WELL KNOWN...

IF THE PUBLIC SECTOR PENSION FUNDS COLLAPSE...WE WILL BE LOOKING AT REAL TROUBLE FOR THE FED AND THE DOLLAR...

THE 1000 POINT PLUNGE....! INEVITABLE....

THE DOW IS HEADING FOR 12,000 AS A MINIMUM GIVE BACK ON THE SPRING LIQUIDITY RALLY...

AND IF THE ERA OF EASY MONEY IS OVER...DOW 10,000 COULD BE NEXT...

THE AGE OF BUBBLES IS ENDING... WE'VE PULLED BACK THE CURTAIN...AND THE WIZARD IS GONE...BUT HE LEFT US A NOTE:

"GONE FISHING...!" YOURS TRULY, ALAN.

HEDGE FUNDS ROCKED... DERIVATIVES MARKET NEXT...?

THE RECENT "MIRACLE" OF SPREADING THE RISK...NOW SEEMS TO GUARANTEE THAT EVERYTHING IS GLOBAL IN SCOPE!!

WHERE'S THE ADVANTAGE WHEN RISK CAN NOT BE LOCALIZED AND CONTAINED...?

SMALL INVESTORS WORRIED...

MARKETS "FORCING" HYPER INFLATION ON CENTRAL BANKERS!!

THE WIEMAR REPUBLIC GOES GLOBAL!!

HUGE BAILOUT RALLY!!

BUT IT WILL NOT LAST... THIS MARKET HAS NOT BEEN "ALLOWED" TO CORRECT BY THE FED...

SO WE ARE REALLY BACK TO SQUARE ONE...HYPER INFLATION OF ASSETS IS STILL THE GOAL.

THE "IT ALWAYS GOES UP" MARKET PSYCHOLOGY IS STILL INTACT... NO LESSONS ARE EVER LEARNED WHEN THE FED BECOMES THE "ENABLE" OF THE SPECULATORS AND PLUNGERS...

WATCH THE DOLLAR...IT COULD RISE AND FALL DRAMATICALLY IN COMING DAYS...

FED BAILING OUT BILLIONAIRES!!

THE RESULT WILL BE MASSIVE INFLATION....

OR MORE LIKELY A STAGFLATION.

THE REAL ECONOMY IS NOT ON THE RADAR SCREEN OF THE CENTRAL BANKS...WHO ARE THE CLIENTS AND SOMETIMES THE AGENTS OF THE SPECULATING CLASSES...

HYPER-LIQUIDITY ALLOWS OVER PRICED ASSETS TO BE BID UP!

AND THAT IS CLASSIC INFLATION! WHY? BECAUSE THE ASSETS ARE NOT "WORTH MORE"...THE DOLLAR IS SIMPLY WORTH LESS...!

TRUE, THIS IS THE BELOVED "ASSET INFLATION" THAT THE FED LOVES TO FINANCE... BUT IT IS INFLATION NEVER THE LESS...

TODAY WILL BE AN EXCELLENT "SELLING OPPORTUNITY."

THE SUCKERS AND OTHERS ARE LINING UP TO BUY OVER-PRICED STOCK TODAY...

BUT I DOUBT THIS RALLY WILL MAKE IT TO THE 4PM CLOSING...!

AS FOR ANOTHER BULL RUN OF ASSET INFLATION...? I DON'T THINK SO...

THERE IS STILL A PILE OF BAD DEBT OUT THERE FROM THE LAST MEGA BOUT OF ASSET INFLATION ON THE BOOKS...

LIQUIDITY GLUT CONTINUES...!

CENTRAL BANKS ARE STUFFING MONEY INTO A GLOBAL ECONOMY THAT IS ALREADY AWASH IN UNUSED LIQUIDITY...WITH THE EXPECTATION OF MORE INFLATION OF ASSET VALUES.

THE HOPE IS TO RESTART THE SPECULATION IN ASSETS...AND RE-BUILD THE BUBBLES ON WHICH THE SYSTEM IS BASED...

IT MAY WORK...BUT THE RESULT WILL BE INFLATIONARY IN THE EXTREME...

IF EXCESS LIQUIDITY HAS CAUSED THE PROBLEM OF ASSET BUBBLES...MORE LIQUIDITY TO "BAIL OUT" THESE BUBBLES WILL NOT PROVIDE A SOLUTION...

THE PROBLEM IS OVER PRODUCTION AND UNDER CONSUMPTION CAUSED BY GLOBAL LOW WAGES...EVEN AS SPECULATION IN ASSETS RUNS AMUCK...AND CENTRAL BANKS PRINT EVER MORE MONEY FOR THE SPECULATING CLASSES.

UK EPHEMERA SOCIETY...

US EPHEMERA SOCIETY

MONDAY MORNING RALLY: GREAT SELLING OPPORTUNITY!!

DUMP NOW....IT ISN'T GOING TO GET ANY BETTER...

BERNANKE DOESN'T WANT TO BAIL OUT THIS MARKET...AND BERNANKE CAN'T BAILOUT THIS MARKET EVEN IF HE WANTED TO...BECAUSE OF THE SICK DOLLAR, WHICH WILL PLUNGE CAUSING OIL TO SOAR...

THE INFLATIONARY IMPLICATIONS OF A WEAK DOLLAR ARE ONLY NOW STARTING TO SINK IN AT THE FED...

DOW HAS TO LOSE 1000 POINTS TO SHEAD SPRING BUBBLE

THE BUBBLE DAZE IS OVER... NOW THE DOW HAS TO GIVE
BACK SOME OF THE ILL GOT
GAINS FROM THIS SPRING RALLY WHICH ASSUMED
THAT THE ASSET INFLATION AND EASY MONEY WOULD
GO ON FOREVER...

WEAK DOLLAR WILL PREVENT FED RATE CUT...

BERNANKE STUCK DEALING WITH GREENSPAN'S BUBBLENOMICS?

WILL THE FED BAILOUT THE BILLIONAIRES...?

LOL...

IN A FLASH...!

NO QUESTION A MASSIVE HEDGE FUND BAILOUT IS COMING...

THE DOLLAR WILL BE AT 145 ON THE EURO...AND GOLD WELL ABOVE 800...

BEFORE YOU CAN SAY: "BEAR STEARNS!"

DOES THE DOW "DESERVE" TO BE ABOVE 12,000...?

I DON'T THINK SO... SEE CHART

UNDER THESE CIRCUMSTANCES...I'D EXPECT A GIVE BACK OF THE BIG SPRING "LIQUIDITY" RALLY...BEFORE ANYTHING ELSE CAN HAPPEN...

AS A MINIMUM...!

IN TRUTH...REVISITING 10,000 MIGHT BE A MORE APPROPRIATE OBJECTIVE ESPECIALLY NOW THAT THE SHIT HAS FINALLY HIT THE FAN ON THE DOLLAR, PERPETUAL ASSET INFLATION AND PERMA-BUBBLES.

BERNANKE'S DESPERATE "HAIL MARY" PASS...

GIVE US THIS DAY OUR DAILY LIQUIDITY BOOST...

I THINK THIS IS HOW ALCHOLICS GET STARTED...!

STOCKS WILL TANK AFTER 2PM....500 POINT DROP POSSIBLE.

NO ONE IS GOING TO TAKE A POSITION OVER THE WEEKEND...WHEN A LOT OF ACCOUNTING IS GOING TO BE DONE ON THE PAPER MELTDOWN...

MORE TURDS COULD END UP IN THE PUNCH BOWL ON MONDAY MORNING...

FROM MERGER MONDAY TO MANIC MONDAY...IN JUST TWO MONTHS...!

PLUNGE PROTECTION HELPLESS...??

BLOOMBERG: BERNANKE WAS WRONG!

GOLD SOARS ON PAPER ECONOMY MELTDOWN!!

PAPER IS FLOATING ON PAPER WHICH IS FLOATING ON EVEN MORE PAPER...ETC...ETC...

GOLD IS STARTING TO LOOK LIKE THE ONLY REFUGE...

OUR EXOTIC PAPER BASED MACRO ECONOMY IS STARTING TO MELTDOWN...

THE GOLDEN AGE OF SPECULATION IS ENDING...

STAGFLATION LOOMS

STAGFLATION!!

DOLLAR DOES LAZARUS!!

OR IS IT JUST THE DEATH RATTLE...?

BUT HEY, A DOLLAR IN CASH IS STILL A DOLLAR...LOWLY AND DESPISED THAT IT MIGHT BE.

A "DOLLAR" IN JUNK BONDS MIGHT BE WORTHLESS PAPER...

IS THE DOLLAR THE ULTIMATE BOND...? AFTER ALL BONDS ARE DENOMINATED IN DOLLARS... BUT THE DOLLAR IS ONLY DENOMINATED IN GOLD OR OIL...INDIRECTLY...

MARKETS LIKE A HEAVY WEIGHT FIGHT...

JUST HOW MANY TIMES CAN THIS MARKET TAKE IT ON THE CHIN...AND GET UP OFF THE CANVAS...THE NEXT DAY?

THESE ARE NOT A COUPLE OF FLY WEIGHTS FLAILING AWAY AT EACH OTHER...WITH LITTLE DAMAGE IN EACH PUNCH...

THESE ARE THE HEAVY WEIGHTS PUNCHING IT OUT...ANOTHER WEEK OF THIS AND A COUPLE MORE PUNCHES UNDER THE CHIN...AND MR MARKET WILL BE DOWN FOR THE COUNT...A KNOCKOUT BLOW...!

BUT WILL THE REFEREE, MR BERNANKE, BE ABLE TO STOP THE FIGHT...BEFORE REAL DAMAGE IS DONE?

KRUGGIE GETS SCARY...

AND IT'S NOT EVEN HALLOWEEN YET...

GOOD MOANIN' WALL STREET...

DISMAL FUTURES MEAN MARKET MASTERS WILL HAVE TO FISH OR CUT BAIT... NET NET LET'S JUST SAY...400 POINTS...PLUS OR MINUS...AND TAKE THE GUESS WORK OUT OF IT...!

TOKYO IN THE TOILET...!

CRISIS SPREADS...

MARGIN CALLS KICKING IN...!!

WHAT LEVERAGE GIVETH...LEVERAGE TAKETH AWAY...AND THEN SOME!!

'Clearly, something is amiss in the markets that few in our strategy, if anyone, have experienced before.'

— Letter to Black Mesa investors

OH MY GOD...NOT A FOREIGN BANK COLLAPSE...

THAT'S HOW ALL THE "BAD ONES" HAVE STARTED HISTORICALLY...!

DOW CHART INTERESTING....

THE DOW CHART TODAY IS TOTALLY DIFFERENT FROM THE CHARTS OF THE LAST WEEK...

IN THE LAST WEEK AFTER 3PM THE DOW HAS "SLING SHOT" HIGHER WITH A MASSIVE QUICK MOVE TO THE UPSIDE...

TODAY THERE WAS JUST A SLOW DECLINE TO THE CLOSE...

THAT TELLS ME THAT PLUNGE PROTECTION WAS IN THERE...BUYING ALL COMERS...BUT THEY WERE JUST OVERWHELMED BY THE VOLUME...

HENCE THE SLOW "ORDERLY" DECLINE TO THE END...

BUT HEY...AT TIMES LIKE THESE...SLOW AND ORDERLY IS ABOUT THE BEST YOU CAN HOPE FOR...!

TOMORROW...? STAY TUNED...!!

THE GREAT PANICS OF 1837, 1857, 1907, AND 2007.

SOMETHING THERE IS THAT DOES NOT LIKE YEARS ENDING IN "7"....!

CLEARLY PLUNGE PROTECTION WAS OVERWHELMED TODAY...AND THAT IS BAD.

ALSO WITH LOW LIFE'S LIKE ME "PREDICTING" A 3PM INTERVENTION...WELL....YOU KNOW, IT KINDA QUEERS THE DEAL...AT THE FED AND WITH THE SHILLS.

MAKE NO MISTAKE THE WORLD IS IN A MACRO ECONOMIC MESS... BUT WE AREN'T SUPPOSED TO TALK ABOUT IT... BECAUSE IT WILL ONLY MAKE IT WORSE SUPPOSEDLY.

SO WHAT DO I THINK...

A 400 POINT RALLY ON THE DOW TOMORROW...!!

HAPPY DAZE ARE QUEER AGAIN!!! I'M A BELIEVER!!

COMMODITIES PLUNGE!! DOLLAR SOARS!!

THE PLUNGE PROTECTION PROGRAMS ARE KICKING IN!!

DOW WILL SOAR AT 3PM...SHARP!!

AS USUAL!! PLUNGE PROTECTION IS ON THE JOB!! GET READY FOR IT....HERE IT COMES....

SHAAZZZAM! UP UP AND AWAY.... DOW WILL BE 100+ POINTS HIGHER AT 4PM...

PS: FED'S PLUNGE PROTECTION FLOPS!!

BIG 3PM RALLY LOOMS!!...FLOPS!

NO
FEAR
3PM RALLY
TO THE RESCUE!!
THE FED WILL
PROTECT US!!

FINALLY THE NYTs MENTIONS THE DOLLAR...

I'VE BEEN COMPLAINING THAT THE DOLLAR IS NEVER MENTIONED BY THE FED, OR BY BERNANKE, OR ANYONE ELSE AT THE HIGHER LEVELS OF MONETARY POLICY DECISION MAKING...

I EVEN SUGGESTED A CONSPIRACY OF SILENCE IN THE MEDIA...

VOILA! A NICE EDITORIAL ABOUT BERNANKE AND THE DOLLAR TODAY IN THE NYTs...! BETTER LATE THAN NEVER...

WILL JOSE BUG OUT...?

DOLLAR KISSING UP TO 139 ON EURO...!

WHATEVER PROGRAM TRADING NONSENSE IS GOING ON... IT ISN'T HELPING THE DOLLAR MUCH...!

PLUNGE PROTECTION IS BUYING ALL DIPS...!

AS I SAID LAST WEEK...THIS IS NOT A MARKET THAT CAN GO OUT ON THE STREET WITHOUT IT'S "TRAINING WHEELS"...

PLUNGE PROTECTION PROGRAMS WILL BE IN EFFECT UNTIL FURTHER NOTICE...

THESE TYPE OF "MANAGED MARKETS" CAN GET INTERESTING...BECAUSE WHEN THE "RESULT" IS ASSURED...STRANGE THINGS CAN HAPPEN...

STAY TUNED...IT'S GOTTA GET WIERD ON WALL STREET FAST...!

NOTICE: HUGE DOW RALLY AT 3:00PM TOMORROW!!

DON'T MISS IT...!!

OPPS...YOU MISSED IT...

MASSIVE RALLIES PREDICTED...

SO IT REALLY DOESN'T MATTER WHEN YOU BUY...

THIS MARKET IS GOING TO 18,000 BY NEW YEARS EVE...!

MASSIVE 1000 POINT RALLIES LOOM THIS FALL...  THE BASIS OF THE ENTIRE THING IS THAT ASSETS LIKE STOCKS SHOULD BE ABLE TO GO UP CONSISTENTLY AT 5 TIMES THE GROWTH RATE IN THE GDP...

HOW SO...?  THIS IS WALL STREET STUPID!  WE DON'T ASK QUESTIONS LIKE THAT...NOT EVEN AT THE HIGHEST LEVELS...NOT EVEN AT THE FED!!

PLAY THE 3PM RALLY...BIG MONEY TO BE MADE!!

MARKET MASTERS GIVING AWAY MONEY IN THE LAST HOUR!!

PLUNGE PROTECTION REMAINS IN EFFECT...

THERE IS PROBABLY SOME BIG MONEY TO BE MAKE BETTING ON THAT 3:30PM RALLY!!!  MARKET IS SURELY BEING RIGGED!!

FED NOT AFRAID OF WALL STREET...TOUGH LOVE STATEMENT

WALL STREET IS GOING TO HAVE TO GET USED TO THE IDEA THAT THE FED ISN'T GOING TO LOWER RATES EVERY TIME CRAMER HAS A TANTRUM...

THE FACTS ARE THAT THERE ARE HUGE MACRO ISSUES FACING THE US ECONOMY...

ONE OF WHICH IS THE DOLLAR...WHICH ALONG WITH ISRAEL...IS IN THE UNMENTIONABLE CATEGORY FOR THE PUNDITS...

NO MATTER WHO BAD THE DOLLAR GETS...NO ONE IS ALLOWED TO MENTION IT IN PUBLIC... SORT OF LIKE ROOSEVELT AND HIS WHEEL CHAIR...OR ISRAEL'S ACTIONS IN THE OCCUPIED WEST BANK...

SO THE REAL CAUSE OF THE TROUBLE CAN NEVER BE MENTIONED PUBLICLY.

AND THAT IS A HUGE DISADVANTAGE TO PUBLIC DISCOURSE...AND ONE REASON THE AMERICAN PUBLIC IS SO CONFUSED.

COME ON GET HAPPY...!

HEY WE SELL STOCKS AND THAT'S JUST WHAT US KIND OF PEOPLE DO...!

THE FED STATEMENT...BOO! YIPPEE! ....BOO?

Economic growth was moderate during the first half of the year. Financial markets have been volatile in recent weeks, credit conditions have become tighter for some households and businesses, and the housing correction is ongoing. Nevertheless, the economy seems likely to continue to expand at a moderate pace over coming quarters, supported by solid growth in employment and incomes and a robust global economy.

Readings on core inflation have improved modestly in recent months. However, a sustained moderation in inflation pressures has yet to be convincingly demonstrated. Moreover, the high level of resource utilization has the potential to sustain those pressures.

Although the downside risks to growth have increased somewhat, the Committee's predominant policy concern remains the risk that inflation will fail to moderate as expected. Future policy adjustments will depend on the outlook for both inflation and economic growth, as implied by incoming information.

PRIVATE EQUITY DOOMSDAY PREDICTED...

ARE PUBLIC SECTOR PENSION PLANS AT RISK...? I THINK THEY ARE...

DOW WILL PLUNGE RISE 200 POINTS ON RELEASE OF FED STATEMENT!

MY HUNCH IS THAT THE DOW WILL PLUNGE/GO UP 200 POINTS ON RELEASE OF THE FED STATEMENT...

THE ONE THING WE DO KNOW FOR SURE...IT WON'T STAY THE SAME...! AND THE SWING WILL BE BIG...!

FED STATEMENT WILL BE THE SHORTEST YET!

THE LESS SAID THE BETTER...

ANY WORD OR PHRASE CAN BE TWISTED BY THE PUNDITS AND TOUTS ON WALL STREET TO LATHER UP A HUGE RALLY OR PLUNGE...

THIS FED STATEMENT WILL BE THE SHORTEST EVER...!

READ IT HERE.

NY TIMES TOUTS FOR RATE CUT...?

BUT DOES THE FED EXIST JUST TO SUPPORT NEW RECORD HIGHS ON THE DOW...?

WHAT ABOUT THE PLUNGING DOLLAR...?

WHAT ABOUT THE ASIAN BUBBLES THAT ARE BEING FINANCED BY WALL STREET...?

WHAT ABOUT THE GREED BASED LEVERAGED BUYOUTS OF PRIVATE EQUITY THAT WE ALL KNOW...FROM HISTORY...TURN OUT BADLY...?

WHAT ABOUT HIGH OIL, GAS AND GOLD WHICH ARE TIED TO THE DOLLAR AND RESPOND TO EXCESSIVE DOLLAR PRINTING AS WE NOW SEE...?

DOES THE FED EXIST ONLY TO FINANCE ASSET BUBBLES...?

PRIVATE EQUITY IS FINISHED...

RUDDY'S DAUGHTER DUMPS HIM...! FOR OBAMA!!

OBAMA IS THE ONE...! EVERYONE WANTS OUT OF THE CURRENT POLITICAL OLIGARCHY....

WHY?

THERE IS NO REASON...AT LEAST NO REASON THAT WE ARE "ALLOWED" TO KNOW ABOUT...

GOOD MORNING WALL STREET...

UNLESS BERNANKE PUTS OUT A RATE CUT ASAP...

TUESDAY COULD BE A 200 POINT DOWN DAY ON THE DOW...

WHAT PLUNGE PROTECTION GIVETH...PLUNGE PROTECTION CAN TAKETH AWAY....

WELCOME GLOBAL INVESTORS...

THIS IS THE PLACE TO BE FOR THE NEXT FEW MONTHS...

THE US MARKETS ARE GOING TO GET "INTERESTING...."

BOOKMARK THIS PAGE NOW...DON'T JUST GOOGLE IT LATER...

ALWAYS ON...ALWAYS FRESH...ALWAYS ON THE CUTTING EDGE....24.7.....

WILL THIS "RALLY" SHUT CRAMER'S MOUTH...? I DON'T THINK SO...

THE BIG RALLY TODAY GAVE THE FED A PASS ON A RATE CUT THIS MONTH...

THE CRITICS, LIKE CRAMER, ETAL, SURELY CAN'T COMPLAIN NOW WHEN THE DOW IS DOING A MULTI-YEAR ONE DAY RECORD RALLY...!

ELEGANT! SIMPLY ELEGANT... NOW BERNANKE DOESN'T HAVE TO LOWER RATES AND MESS WITH THE ALREADY MESSED UP DOLLAR... WE CAN COAST FOR A WHILE...

AND THE RALLY WILL LIKELY BE TAKEN BACK BEFORE THE WEEK IS OVER...SO NET NET...NO GAIN...AND THE FED CAN GO HOME AND THINK ABOUT IT FOR ANOTHER MONTH OR SO...

BUSH "LOSES" 111,000 AK-47s IN IRAQ!!

NOW THEY ARE BEING USED TO KILL AMERICANS...!

~~~~~~~~~~~~~~~~~~~~~~

EXACTLY HOW DO YOU "LOSE" THAT MANY WEAPONS...? THAT'S LIKE A WAREHOUSE FULL! ENOUGH TO EQUIP A MEDIUM SIZED ARMY...!

MAYBE WHEN THIS IS OVER...

THE GENERALS SHOULD BE PUT ON TRIAL ALONG WITH BUSH AND CHENEY ETAL...FOR THEIR CRIMINAL NEGLIGENCE.

THIS IS JUST AN UNFORGIVABLE "LAST STRAW" FOR MANY AMERICANS...

FAKE RALLY GIVES FED A "PASS" ON RATE CUT TOMORROW!!!

NOW BERNANKE CAN SAY: SLUMP? WHAT SLUMP?

NOTE WELL:

ONE "SIDE EFFECT" OF THE BIG PLUNGE PROTECTION RALLY TODAY IS THAT IT GETS THE FED OFF THE HOOK...IF IT DOES NOT LOWER RATES TOMORROW...!!!!

THE CRITICS WOULD HAVE GONE NUTS IF THE DOW HAD DROPPED AGAIN TODAY...AND THE FED DID NOT LOWER RATES THIS WEEK!!

THINK ABOUT IT...

THIS RALLY WAS ELEGANTLY PLANNED BY PLUNGE PROTECTION AND THE FED...TO GIVE THE FED A PASS ON ANY RATE CUT FOR AT LEAST ANOTHER MONTH...!!

GREAT PLUNGE PROTECTION TODAY...

THE PLUNGE PROTECTION PROGRAM TRADES WORKED GREAT TODAY...!

OIL SOLD OFF REALLY BIG...

THE DOLLAR STAYED THE SAME...

AND MOST OF ALL THE DOW WAS BOUGHT FROM ALL COMERS...!!

THIS IS THE WAY PLUNGE PROTECTION IS SUPPOSED TO WORK... BUT NOW THEY WILL HAVE TO DO IT...EVERYDAY THIS WEEK!!

THIS IS NOT A MARKET THAT CAN BE LEFT TO IT'S OWN DEVICES...IT WILL PLUNGE IMMEDIATELY...

MY HUNCH IS THAT THE FED WILL LOWER RATES UNEXPECTEDLY TOMORROW...JUST TO CATCH EVERYONE OFF GUARD...AND TO BE ABLE TO CALL OFF THE PLUNGE PROTECTION...WHICH CAN'T GO ON FOREVER.

THE DOW SHOULD SOAR AT LEAST 400 POINTS TOMORROW...! THESE ARE DESPERATE TIMES...

THE FED KNOWS THAT THERE IS NO TOMORROW...AFTER THESE MANY ASSET BUBBLES...SO RIGHT NOW IS THE TIME TO USED IT OR LOSE IT...

I WOULD NOT BE SURPRISED IF THE FED LOWERED RATES BY 50 BP...!

FED WILL LOWER RATES...!! DOW UP 400 TOMORROW!!

INCREDIBLE!!

PRESIDENTIAL CANDIDATE FATIGUE...?

IS IT JUST ME...OR DO ALL THE PRESIDENTIAL CANDIDATES LOOK LIKE JERKS...?

I'M GETTING TO THE POINT WHERE I DON'T EVEN WANT TO SEE OR HEAR THEM.

IT'S ALL SO FAKE... AND THE ANSWERS SO SCRIPTED...

NOW THERE ARE THE OBVIOUS LOSERS...LIKE MCCAIN AND ROMNEY...

RUDDY SEEMS REAL...BUT SCARY.

ROMNEY IS A STUFFED SHIRT FLIP FLOPPER WITH ODD RELIGIOUS BELIEFS WHICH I REALLY DON'T THINK IT'S POSSIBLE FOR THE RELIGIOUS RIGHT TO "IGNORE".... I MEAN IF THE RELIGIOUS RIGHT STARTS TO IGNORE RELIGIOUS ISSUES...WHAT ARE THEY...? SURELY NOT RELIGIOUS ANYMORE...

MRS. CLINTON IS JUST ANOTHER SHRILL "STUFFED PANTS SUIT." ALA THE CONDI MODEL...

AND THE MERE THOUGHT OF HAVING HER AS PRESIDENT JUST SEEMS ODD AND ALMOST UNBEARABLE... I DON'T THINK VOTERS WILL GO FOR IT IN THE END.

EDWARDS IS REAL IN A FAKE LAWYERLY KIND OF WAY...HE COULD BE THE "DEFAULT POSITION" EVEN YET.

THE ONLY CANDIDATE THAT CAN "JUST CONNECT" IS OBAMA...

AND HE'S AN INEXPERIENCED BLACK GUY...!

THEN COMES FRED THOMPSON...A FAT OLD BALD GUY WHO IS SUPPOSED TO BE OUR NEW RAY-GUN...!

BY THE END OF THIS ELECTION CYCLE MANY PEOPLE WILL BE WANTING TO VOTE FOR "NONE OF THE ABOVE!"

BUT I GIVE THE EDGE TO OBAMA...SEEMING TO BE "REAL" AND "JUST CONNECTING" ARE EXACTLY WHAT PEOPLE ARE LOOKING FOR NOW...AND IN THE END THAT WILL LIKELY WIN THE DAY...

BEND IT TILL IT BREAKS...?

SOONER OR LATER THIS MARKET IS GOING TO REACH A TIPPING POINT...

YOU SIMPLY CAN'T HAVE THIS KIND OF GLOOM AS THE PREVAILING SENTIMENT AND STILL SAVE STOCK PRICES...