Tuesday, October 20, 2009

Tuesday 10-20 SCHOOL'S OUT

In Hawaii, school's out for recession Hawaii is hard hit by the recession-Depression as is almost everyone. Latvia was told by the IMF and the EU to close and sell half of their schools and hospitals. Fire half of the police. And to cut government wages 40%. Now we see America headed towards the same future.

Did our musicians predict this? PINK FLOYD - Another Brick in the Wall We don't need no education Alice Cooper - School's Out We've got no intelligence

U.S. launches aid for state, local housing agencies (by effectively allowing state and local housing finance agencies to borrow from the U.S. Treasury i.e. China) Yeah, but China is a net seller of US Treasury bonds so maybe they mean Ben Bernanke will have to print a lot more money. Next up is California with its new, new 10 billion dollar deficit. There are 8 states in worse shape financially than the formerly Golden State to follow.

Daley: City Managers To Take Nearly Five Weeks Off Thousands Of City Workers To Take 24 Unpaid Days In 2010 a $550 million budget deficit

Armageddon in Alabama Proves Parable for Local U.S. Governments The 61-year-old Democrat now mayor of Birmingham goes on trial today, charged in a November 2008 federal indictment with taking cash, Rolex watches and designer clothes in exchange for helping to steer $7.1 million in fees to an Alabama investment banker as the county refinanced its sewer debt. Jefferson County’s debacle is a parable for billions of dollars lost by state and local governments from Florida to California in transactions done behind closed doors. Selling debt without requiring competition made public officials vulnerable to bankers’ sales pitches, leaving taxpayers to foot the bill for borrowing gone awry. Swaps Blew Up ...

Higher jobless rates could be new normal Industries that previously jump started employment aren’t able to this time

Sibel Edmonds: The Makings of a Police State-Part III National Security Letters A federal appeals court may have slapped the Federal Bureau of Investigation last year for its misuse of gag orders to prevent discussion of government investigations conducted under the authority of National Security Letters, but that hasn't slowed the feds very much. According to the American Civil Liberties Union, despite a court's finding that such gag orders are constitutionally suspect and should be subject to judicial review, the FBI continues to muzzle recipients of the controversial letters, preventing them from participating in public debate over the Patriot Act and the security state.

Meaning of over 200,000 people who have received these unconstitutional police letters and the accompanying gag orders, ONLY 3 have found the courage, conviction, and real patriotism to stand up and challenge this assault on their constitutional rights and those of the entire nation. If this doesn’t rattle us Americans, the inhabitants of the land of the free, then may we deserve this and the highly probable worse to come.

Video Obama: 7 Lies In Under 2 Minutes Obama could have done more than 7 lies in 2 minutes but he had to wait for the applause from the chumps to die down.

Video: Dylan Ratigan Discusses Obama's Purported Secret Agenda "Goldman Sachs is becoming the bogeyman of this administration the way the Carlyle Group used to be used as a sledgehammer against the Bush administration. It's a fascinating narrative that is developing and one that this administration better be very nervous about as well as Goldman Sachs." I would say we reach our conclusion that Obama is deliberately trying to destroy America and the dollar by analyzing his behavior (i.e. his economic and political policies.)

No, You're Reading That Right 79.9 percent rate targets credit-challenged Photo and audio. BANKS BORROW MONEY FROM THEIR CENTRAL BANK AT 0.25% AND LOAN IT OUT FOR 30%. THAT IS NOT GOOD ENOUGH. THEY SENT THIS GUY A 79% RATE.

Video: Truth About the 2009 Gaza Massacre

Video: Palestine

Tavakoli: "We Should Impose a 95% Excess Profits Tax—Or Windfall Profits Tax—On Certain Financial Institutions... Enriching Themselves" at Our Expense

Buried Alive In Gaza [Warning:Graphic Picture] A Palestinian human rights advocate claims the Zionist Occupation Forces buried some Palestinians alive during Operation Cast Lead in Gaza.

U.S. Spies Buy Stake in Firm That Monitors Blogs, Tweets In-Q-Tel, the investment arm of the CIA and the wider intelligence community, is putting cash into Visible Technologies, a software firm that specializes in monitoring social media.

Audio: “FAIR & BALANCED” with Kevin Barrett Guest William Pepper is advising Judge Garzon of Spain on the indictment of 43 war criminals including Bush and Cheney William Pepper was one of Martin Luther King's lawyers. He said the International Convention on Torture gives all signatories the right to try war criminals if the host nation is unwilling to do so. Pepper has been advising a Spanish judge who is actively pursuing war crimes charges against Bush and Cheney. He also said Spain has jurisdiction because seven Spanish national were victims of US torture. As soon as the warrant is issued, it will be forwarded to Interpol so all foreign travel by any of the 43 people involved will be curtailed. This will be especially true after the dollar crashes and these people are more despised than they are now if that is possible. Pepper expects indictments early in 2010. The judge is under 24 hour guard.

PENTAGON CHIEF: OBAMA AFGHAN DECISION CAN'T WAIT Obama should have made his decision to wind down the wars in Iraq and Afghanistan before he took office and started acting immediately on a peace offensive in the Mideast while he still had political capital.

Outstanding Debt, GDP and Income Who Are They Fooling

YouTube’s Bandwidth Bill Is Zero. Welcome to the New Net

A cold start to fall: over 4500 new snowfall, low temp, and lowest max temp records set in the USA this last week

Government Tax Receipts Down 20 Percent Year over Year: Wall Street Banks Earning Billions. The Unsustainable Economy

U.S. Dollar Sendoff Stock Market Rally: Dow up 56% from Bottom in U.S. Dollars but up only 31% in Euros. How a Crashing Currency Hides Actual Trends. Over 40 Ounces of Gold Needed to Purchase Dow Index in 2000. Today 9.4 Ounces of Gold will buy the Dow Index. Oil is up 128% from March low.

>How To Stop The Pretending Congress exercised its "power" to extort a change in FASB regulations that made legal intentional and willful misrepresentation of asset values. In effect what Congress did was allow banks to take their $10 bills and use a sharpie marker to add a zero to the denomination - literally -when held in the "asset" bucket. As Mark Hanson of Hanson Advisors has pointed out repeatedly in his mortgage update (he specializes in California Real Estate) 70% of dollar value of second mortgages is in the bubble states, and in September of this year alone the average deficiency between mortgage outstanding value and home value on foreclosures was $200,000.

Firefight Over the Red, White and Blue Firefighter suspended for refusing to peel American flag sticker from locker

Excuses wearing thin for Obama, media pals Please note this is from a LIBERAL CHICAGO NEWSPAPER

Pay No Attention to the 140 P/E Behind the Curtain Yes folks, it’s time to dust off those party hats… It’s Dow 10,000 time! Pay no attention to anything else folks. Especially not the S&P 500 P/E ratio… As of Oct 7, The S&P P/E Ratio is 140.82. Yep, 140!!! This isn’t my data; this is directly from the New York Fed.

Einhorn bets on major currency 'death spiral' Greenlight Capital is betting on the possibility of a major currency collapse and a surge in interest rates

These two short pieces are from Tyler Durden at Zero Hedge: Intraday Market Observations - All Dollar Hope Abandon Ye Who Enter
The carry trade in full force as the dollar keeps hitting new lows. (The Carry Trade means Hedge Funds borrow in dollars and invest overseas. It is shorting the dollar and driving down its value.) Rumors Of The Dollar's Demise Have Not Been Greatly Exaggerated sell dollars, buy everything else. It is no surprise that stocks are trading where they are courtesy of an insane printing press operator and it being the third lowest volume day of the year,

China's US-debt holdings drop Japan's government has changed. The new government has said they want to protect the value of their US Treasury bonds.

Gold at $2,000 Becomes Inflation-Adjusted Bullseye for ‘80 High

Senate Finance Committee bill has been filed (Health bill 1,502 pages) If you want to read the bill please go here.

Bernanke Gone Berserk! Bank Reserves Explode! Fact #1. Up until the day Lehman Brothers collapsed in September of last year, it took the Fed a total 5,012 days — 13 years and 8 months — to double the cash currency and reserves in the coffers of U.S. banks. In contrast, after the Lehman Brothers collapse, it took Bernanke’s Fed only 112 days to double the size of U.S. bank reserves. He accelerated the pace of bank reserve expansion by a factor of 45 to 1. (Click here for the proof.)

CAPITAL CULTURE: Obamas big on White House gigs This is from the pro-Obama AP.

How The Federal Reserve Bailed Out The World Courtesy of the Fed's own disastrous policy of flooding the market with trillions of cheap credit over the past several decades, the resulting massive one-sided trade of buying dollar denominated securities, funded with inappropriately duration matched products, ended up in $6.5 trillion of Fed-funded global Moral Hazard exposure. When the wheels came off the financial system last fall, the Fed had to step in and bail out all foreign Central Banks. From the BIS: "In providing US dollars on a global scale, the Federal Reserve effectively engaged in international lending of last resort...What pushed the system to the brink was not cross-currency funding per se, but rather too many large banks employing funding strategies in the same direction, the funding equivalent of a crowded trade." The imminent question - How long until the next iteration of the Fiat banking system's most crowded trade (long US-denominated securities, courtesy of a cheap carry trade somewhere in the world) pulls the system back to the brink again?

Oil briefly above $80 as earnings beat forecasts

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