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The so-called 'Green Shoots' have been trampled by people walking to their Unemployment Insurance Offices to collect jobless claims in order to pay their bills. The so-called 'Green Shoots' have been trampled been people walking (or running) away from their homes as they are being foreclosed. The so-called 'Green Shoots' will continue to suffer from most water and nutrients heading to the Elite Gardens, diverted from those on Main Street. The so-called 'Green Shoots' have been killed off by a stubborn frost from the USEconomy. A prevailing sentiment and motivation has sadly and perversely entered into the public and financial sectors, with clear deceptive intention. The stretch of the data, the desperate misinterpretation the data, the false facade painted atop a USEconomy, such deceptions cannot stand even the most gentle taste tests and sanity checks. Then again, Wall Street and the USGovt (victim of the financial Coup d'Etat) must promote a positive sentiment in order to reinvigorate confidence. After all, the USDollar-based system depends upon trust and confidence, since no gold backs the financial foundation and debt permeates every crevice. Heck, not even much industry backs the USEconomy, the famed financially engineered miracle gone awry. The principal characteristic of a body that is bankrupt, deeply mired in debt, and must sustain itself by selling debt securities to foreigners is deception. One must struggle mightily to find much of any honesty in USGovt finance or US bank system accounting, economic statistics, or establishment of future prospects.
If there was anybody who should have avoided the mortgage catastrophe, it was I. As an economics reporter for The New York Times, I have been the paper’s chief eyes and ears on the Federal Reserve for the past six years. I watched Alan Greenspan and his successor, Ben S. Bernanke, at close range. I wrote several early-warning articles in 2004 about the spike in go-go mortgages. Before that, I had a hand in covering the Asian financial crisis of 1997, the Russia meltdown in 1998 and the dot-com collapse in 2000. I know a lot about the curveballs that the economy can throw at us.
CBS News has learned that two attorneys at the Securities and Exchange Commission (SEC) are under "active" criminal investigation by the FBI for trading stocks based on inside information. Accusations against the two lawyers - a man and a woman whose names have not been released - are detailed in a report by the SEC inspector general obtained exclusively by CBS News. The report, based on a review and analysis of "more than two years of e-mail and brokerage records," puts increased pressure on a commission that has come under fire lately for failing to detect the $60 billion Bernard L. Madoff Ponzi scheme, and turning a blind eye to the Wall Street financial crisis.
"Throughout the world financial interests have taken control of government and used neoliberal policies to promote their own gain-seeking – financial gains without industrialization or agricultural self-sufficiency. Betting against one’s own currency is more remunerative than making the effort to invest in capital equipment and develop markets for new output. So unemployment and domestic budget deficits are soaring. The neoliberal failure to distinguish between productive and merely extractive or speculative forms of gain seeking has created a travesty of the kind of wealth creation that Adam Smith described in The Wealth of Nations. The financialization of economies has been decoupled from tangible capital investment to expand employment and productive powers. Central to any discussion of financialization is the fact that credit creation has been monopolized in the United States and Britain for their own national gain."
This is an interesting essay from Michael Hudson, because it helps to illuminate some of the less frequently discussed implications of the rise of fiat currencies since the 1970's and the growth of financial engineering amongst an elite group of multinational corporations.
Obama's personal finances suggest he was a typical subprime borrower, counting on some unknown good fortune to bail him out. In an excellent bit of sleuthing, Richard Henry Lee does the math.
Stacy Summary: The billionaires are preparing while the ‘middle class’ still hold out hope, diving back into the housing and equity markets hoping for, praying for one last chance at the wheel of fortune. Once these desperate speculators realize that they all collectively bet on red by betting on asset price inflation as retirement plan. . . there will be unrest, according to South African billionaire, Johann Rupert. What do you think?
Discussion of the 50% Retracement Rule,
potential future price levels, time studies, key dates, Fibonacci, Gann, Astro numbers, Robert Rhea's Great Depression analysis.
A year ago, it was hardly unthinkable that a math wizard like David X. Li might someday earn a Nobel Prize. After all, financial economists—even Wall Street quants—have received the Nobel in economics before, and Li's work on measuring risk has had more impact, more quickly, than previous Nobel Prize-winning contributions to the field. Today, though, as dazed bankers, politicians, regulators, and investors survey the wreckage of the biggest financial meltdown since the Great Depression, Li is probably thankful he still has a job in finance at all. Not that his achievement should be dismissed. He took a notoriously tough nut—determining correlation, or how seemingly disparate events are related—and cracked it wide open with a simple and elegant mathematical formula, one that would become ubiquitous in finance worldwide.
For five years, Li's formula, known as a Gaussian copula function, looked like an unambiguously positive breakthrough, a piece of financial technology that allowed hugely complex risks to be modeled with more ease and accuracy than ever before. With his brilliant spark of mathematical legerdemain, Li made it possible for traders to sell vast quantities of new securities, expanding financial markets to unimaginable levels.
"It's not the start of a new bull market," said Prechter, chief executive at research company Elliott Wave International in Gainesville, Georgia. "Our models are (showing) right now that it is a much bigger bear market than most people realize, something along the lines of 1929-1932," he told Reuters in a wide ranging interview. "It's a very rare event," he added. "I think the next leg down will be at least as severe if not more severe than what we just experienced. So you want to stay on the side of safety," he said.
As banks continue to accumulate losses and corporate earnings fall, "the difficulties will probably last through about 2016," he said. "There will be plenty of rallies along the way." "Deflation is coming, it's going to lead to a depression. We're not at the bottom yet," Prechter said. "I think we are going to have bouts of deflation separated by recoveries."
If you have any info that would help, please contact me at my private email address: bailout@michaelmoore.com
