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(((a thread to replace the "Fear is like beef jerky" thread since, in theory, some bullish news will one day be reported...)))

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(((Read! Lawsuits just beginning. Bad news for real estate and banking... Very bearish overall.)))


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(((Marc Faber suggests -- contrary to popular opinion -- that interest rates may soon begin rising (within a few months) while the US Dollar begins rising. He prefers stocks to government bonds.)))

Dr. Doom Is Gloomy Once Again:

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(((Summary: the US squandered trillions on war to control the Middle East and Central Asian oil/gas -- China simply bought what they will need and wisely sent no soldiers abroad. We have the worst government in the world :-) )))

China’s Pipelineistan “War”
Anteing Up, Betting, and Bluffing in the New Great Game
by Pepe Escobar

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(((This is straight out of the Austrian School of economics and the long cycle theory of Kondratieff Winter.)))

Easing Won't Work As Consumers Won't Spend: Roach
Published: Tuesday, 12 Oct 2010 | 4:50 AM

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(((This is starting to look very dire.)))

Banks Will Be Forced to Forgo Certain Foreclosures, Even If the Borrower Has Admittedly Defaulted!

By: Reggie Middleton | Thu, Oct 14, 2010

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The Last Straw for Big Banking

By: Dock Treece | Thu, Oct 14, 2010

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Why a Dollar Decline and World Crisis Is the Rational Expectation
by: Michael James McDonald October 14, 2010

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U.S. Troops To Deal With Rioting Americans

Paul Joseph Watson
Thursday, October 14, 2010

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(((A ten year bull market in gold has finally persuaded them :-) )))

FOCUS: Pension Funds Venture Cautiously into Commodities, Gold

15 October 2010, 11:44 a.m.
By Debbie Carlson
Of Kitco News

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Bank Selloff Adds Pressure to Fix Foreclosure Mess (Update4)

By Dakin Campbell and Christine Harper
Oct. 15

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(((Possible TEOTWAWKI Alert :-) )))

Gonzalo Lira
Tuesday, October 12, 2010

The Second Leg Down of America’s Death Spiral

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‘Currency Vigilantes’ May Replace Bond Counterparts, M&G Says

By Lukanyo Mnyanda
Oct. 14

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(((The 30 year treasury appears to have topped after a "double top" while the 10 year appears to have started down. It is unclear how this impacts stocks, currencies and commodities but immediately ahead we may see short covering in the dollar and a retreat in various risky asset prices (traders short-sell dollars and yen, using the proceeds to buy other assets -- and in addition, dollar shorts may have been heavily used to hedge long treasury positions.) )))

Is The Long Term Treasury Mania Over?

By: Jeb Handwerger | Fri, Oct 15, 2010
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The Real Horror Story: The U.S. Economic Meltdown

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(((essay at the end of the web page)))

Inflationary Biases and the U.S. Policy Dilemma

* by Doug Noland
* October 15, 2010

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(((CNBC sez DC to retroactively sanction all past mortgage fraud to save the system: "The put-back crisis is not driven by economics. It is driven by legal rights. And there’s simply zero probability that the politicians in Washington are going to let Bank of America or Citigroup or JP Morgan Chase fail because of a legal issue. " Haha. Fascism just works!)))

Sorry Folks, The Put-Back Apocalypse Ain't Gonna Happen

Published: Friday, 15 Oct 2010 | 11:21 AM ET
By: John Carney

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Automation Insurance: Robots Are Replacing Middle Class Jobs
# October 13, 2010 • 2:00 pm PDT

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No Fun To Be Had From Stockpicking
Written by Jonathan Davis
October 1, 2010 at 11:55 AM

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S&P 500: Seven Fat Years or Seven Lean Years Ahead?
by: Prieur du Plessis
October 17, 2010

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Barry Ritholtz: Stick With "What's Working" and Don't Fight the Fed
Posted Oct 15, 2010 07:30am EDT
by Aaron Task

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(((My view is that QE2 is misdirected, if indeed the objective is to reduce unemployment. The problem with QE2 and the rest of the Fed's policies such as negative real interest rates and telegraphing its intentions is that the big banks are not lending to, or investing in jobs producing activities -- they are hobbled with bad portfolios not marked to market and they are playing a waiting game to earn their way out of their problems while hoping/praying for inflation to wipe out their debt problems. It would be more effective to simply have the Treasury cut a check to each man, woman and child in the US for their pro rata share of the QE2 amount. Better would be to cut Federal employee wages by 1/3, withdraw all troops from overseas, halt all enforcement of victimless crimes, and create a designated tax-free "economic disaster zone" in each state where all taxes of every kind would be zero for ten years for all economic activity in those zones. I believe the Fed's actions are going to drive the US Dollar Index down by 50% within the next five years (at the latest). In addition, the Fed's "stimulus" is really just stimulating our trading partners' economies as we continue to run massive trade deficits. Eventually when the dollar is cheap enough foreigners will swoop in and buy up assets in the US...trillions worth.)))

Global Macro Notes: Fed Simply Driving Markets Toward a Brick Wall
by: Mercenary Trader October 17, 2010

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American states' pension funds
A gold-plated burden
Hard-pressed American states face a crushing pensions bill

Oct 14th 2010

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And Now, Here's The First 11 State Pensions Funds That Will Run Out Of Money
Posted Oct 18, 2010 03:50pm EDT by Gus Lubin

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Could a Dollar Crash Be Coming Soon?

18 October 2010
By Greg Hunter’s

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Eric Sprott on Gold and QE2
by: Ron Hera October 18, 2010 |

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(((I am posting this here because Hubbartt discusses the Weekly RSI > 70 and includes charts of gold, silver and the miners. I wonder if his other indicators are over-complicating things however.)))

Gold Market RSI - The Haunting?

Morris Hubbartt
Weekly Market Update Excerpt
posted Oct 18, 2010

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U.S. Economy: Production Decreases, Builder Pessimism Wanes

By Courtney Schlisserman and Bob Willis
Oct. 18 (Bloomberg) --

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(((Yawn... I take this to mean that devaluation is precisely their strategy. On my art board I have a clipping of a drawing of an elegant man in evening dress playing a game of chess in which the pieces are people -- the saying is "The people must believe that they are not manipulated in order for them to be manipulated effectively." The Treasury and the Fed are risking dollar Armageddon with their policies -- this is analogous to believing in a strategy involving tactical nukes; eventually the rest of the world would band together to abate the menace of the rabid dog...)))

Geithner: U.S. will not engage in dollar devaluation

"It is very important for people to understand that the United States of America and no country around the world can devalue its way to prosperity, to (be) competitive," Geithner added. "It is not a viable, feasible strategy and we will not engage in it."

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(((A "must read" about selling off US infrastructure dirt cheap to plug short term budget deficits. This is an inside view of how the US oligarchy does business.)))

Exclusive Excerpt: America on Sale, From Matt Taibbi's 'Griftopia'

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(((For more on how the US *really* works, check this book out. It is fiction but reality based. Chapter 41, "The Oligarchy" is a perfectly reasonable model of reality...)))

Inside Out: A Novel

Barry Eisler

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(((A sci-fi version of The Oligarchy...)))


Neal Stephenson

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The Biggest Bank Robbery In History? More Quantitative Easing = Backdoor Bailouts For The Big Banks Without Having To Go Through Congress

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Doomsday Capitalism: Revolution in 22 tweets
Commentary: Buffett’s billionaire buddies already fighting class war against America

Paul B. Farrell

Oct. 19, 2010, 12:01 a.m. EDT

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(((This is a fascinating stuff: Steve Jobs analyzes his competitors' Android phones and tablets. The logic is clean and clear. Ouch.)))

Steve Jobs: why Android isn't open, and we won't build a 7" iPad

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(((I always take into account The World, the "Great Game", especially including currencies and economies but also geopolitics.)))

Foreign Policy and the Midterms
The silence is deafening

by Justin Raimondo,
October 20, 2010

"As the economic crisis puts everything on the table – after all, a bankrupt empire must either shrink, or go into foreclosure – the evasions of our “leaders” will prove insufficient. The laws of economics are the weapons of mass destruction that will get us in the end."

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(((Ideas to ponder)))

11 Market Predictions for 2011

By InvestorPlace 10/20/10 - 11:46 AM EDT

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(((More about "The Oligarchy" :-) AKA, "Concerned Citizens".)))

Memo exposes secret list of conservative donors plotting campaign against Democrats, climate change

By John Byrne
Wednesday, October 20th, 2010 -- 11:19 am

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(((A bit of numeric campaign information from our fiscally conservative brethren...My theory is to always listen hardest to the party out of power because the odds of finding nuggets of truth are much better than in what the party in power is saying...though neither is willing to discuss the elephants in the room...)))

Obama By The Numbers

October 2010

Posted by: Research

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(((Reminds me of Garrison Keillor's Lake Wobegon: "... and all of the children are above average.")))

The Tyranny of Annualized Portfolio Growth

by: October 20, 2010

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(((This is common for US multinationals. The Oligarchy doesn't pay taxes.)))

Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes

By Jesse Drucker -

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(((I haven't read any of these books :-) Just reading the summaries is thought-provoking though!)))

Schwarzman Grabs `Rosetta Stone,' Reich Expects Revolt: Top Business Books

By James Pressley - Oct 14, 2010 4:00 PM PT

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(((Searching for "The Big Short" informs us that Microsoft and Treasuries are questioned by a few contrarians :-) )))

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Dow Rallies, Dollar Rallies, And Gold Bugs Get SQUASHED: Here's What You Need To Know

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(((a "must read" -- Jim Willie predicts the follow-ups to QE2: TARP2 and QE3 in 2011 with Fannie Mae serving as the bad bank for the inevitable, new too-big-to-fail bailouts coming. and so much more, including some highly negative things to say about the US Dolla and some bullish stuff about gold.)))

The Greek Dollar Swap Window

By Jim Willie CB

Oct 21 2010 10:33AM

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(((I think this is a rhetorical question. The dollar's condition is indefensible given the total sum of circumstances. The remaining questions are: 1) timeframe; and 2) magnitude of decline. )))

Will the US Treasury Defend the US-Dollar?

By Gary Dorsch

Oct 21 2010 12:13PM

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Mortgage Mess: Shredding the Dream; Major Fight over Enormous Losses Yet to Come

Mike Shedlock

Thursday, October 21, 2010

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SocGen's Albert Edwards: The U.S. Public Is About To Revolt

Gregory White | Oct. 20, 2010, 12:16 PM |

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Published on Thursday, October 21, 2010
by Deeplinks Blog / EFF

Eight Epic Failures of Regulating Cryptography

by Cindy Cohn

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The Real Danger to the Economy

November 11, 2010
George Soros

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(((Doug Noland: the announced size of QE2 may disappoint the markets temporarily but the reality of it "...will only exacerbate the torrent of flows exiting the U.S. in search of higher returns in “undollars” (“emerging” securities markets, gold, silver, metals, agriculture, commodities, foreign economies, etc.).
(Me: however, if/when "the risk trade" comes off at some point the dollar could explode higher temporarily. I suspect that the smart move is to be a patient opportunist and wait for something stupid to happen out there.) )))

Rebalancing the World

* by Doug Noland
* October 22, 2010

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(((Curiously, this delegitimizes the US regime even more than their Iraqi puppets, who apparently have more torture/rape rooms than Saddam ever had, to say nothing of the US/Iraqi death squads. This portends new dimensions and escalations of the American GWOT because it is incendiary.)))

The WikiLeaks Iraq War Logs
Greatest Data Leak in US Military History

Saturday, October 23, 2010

By SPIEGEL Staff,1518,724845,00.h...

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(((Reggie Middleton: bottom in housing somewhere in between 2015 and 2018.)))

Four Facts That Bang JP Morgan That You Just Won't Hear From The Sell Side!!!

By: Reggie Middleton

Fri, Oct 22, 2010

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(((I agree. My fierce determination is not to invest but to convert dollars.

Note: often, just at the point when the media and commentators begin to squeak the loudest about a problem, a short-term reversal occurs.)))

The US Dollar is doomed

Puru Saxena
Posted Oct 22, 2010

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75 Ways That The Government And The Financial Elite Will Be Sucking Even More Of The Life Blood Out Of The American People In 2011

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(((So many crimes, so few criminals behind bars. Kinda like "Too big to fail", these guys are too rich, too politically connected to jail. Do we have enough prison beds? Obama's DOJ vows to strictly enforce federal law if Prop 19 legalizes weed in California but prosecute white collar millionares? Not so much...)))

The Subprime Debacle, Part 2: New Testimony Reveals Citigroup Knew Exactly What Crap It Was Selling

John Mauldin, Thoughts From The Frontline | Oct. 24, 2010, 1:35 PM

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(((Low interest rates and slow domestic growth mean US corporations are investing for efficiency improvements here and expansion abroad. Ironically then, Fed stimulus is stimulating economies of other countries...)))

Boeing Sales Beat `New Normal' Pessimism as Fed May Act

By Ian Katz -

Fri Oct 22 04:01:01 GMT 2010

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(((Goldman: Fed may need to spend $4 trillion in QE2 -- EVENTUALLY. (we are doomed haha) )))

Federal Reserve Asset Buying May Reach $2 Trillion, Goldman's Hatzius Says

By Candice Zachariahs -

Sun Oct 24 22:47:47 GMT 2010

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(((This could turn out to be very positive for stocks. Probably best to do away with employment based health coverage anyway due to the transient nature of so many jobs in 21st Century America -- every job switch means losing coverage.)))

Employers increasingly weigh cuts to employee health coverage

Sunday, October 24th, 2010 -- 9:32 pm

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October 25, 2010

Bernanke Leaps into a Liquidity Trap

John P. Hussman, Ph.D.

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Corporate Insiders Cash Out

By Josh Lipton Oct 25, 2010 2:45 pm

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QE: The Numberless Oblivion

If you print a trillion, I'll print a trillion – and other instances of behavior leading the world toward high inflation and political instability

By Andy Xie

10.22.2010 17:13

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(((Pronounces the end of "liberalism": "The liberal class, like the déclassé French aristocracy, has no real function within the power elite. And the rising right-wing populists, correctly, ask why liberals should be tolerated when their rhetoric bears no relation to reality and their presence has no influence on power. ")))

The World Liberal Opportunists Made

by Chris Hedges

Monday, October 25, 2010

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(((Uh oh, Taibbi is on their case now...that doesn't bode well.)))

Bank of America Admits Many Foreclosure Mistakes

Oct 25, 2010, 11:44 A.M. EDT

By Matt Taibbi

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Bernanke Asset Purchases Risk Unleashing 1970s Inflation Genie

By Craig Torres -

Tue Oct 26 2010 04:00:01 GMT

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(((Obama continues Bush's torture programme, simply using Bagram instead of Gitmo. Bad PR for US; does not look good to Rest Of World, especially after Wikileaks. (Smooth move Barky!) How does this help the US economy? Ouch.)))

Federal court allows US to keep info on Bagram prisoners a secret

By Stephen C. Webster

Monday, October 25th, 2010 -- 11:33 pm

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U.S. Financial Markets: The Well Has Been Poisoned (Anger of the Honest Part II) (October 23, 2010)

Excerpt: When financial markets have become riddled with fraud, embezzlement and corruption that goes unpunished, then institutional players will avoid that market as crooked: the well has been poisoned.

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China and the Anti-Realists

Steve Saville

Oct 26, 2010

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Investment Outlook

William H. Gross

November 2010

Run Turkey, Run

Excerpt: We are, as even some Fed Governors now publically admit, in a “liquidity trap,” where interest rates or trillions in QEII asset purchases may not stimulate borrowing or lending because consumer demand is just not there. Escaping from a liquidity trap may be impossible, much like light trapped in a black hole.

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(((Foreclosuregate isn't going to be resolved swiftly -- OR cheaply! This could turn out to be a "sleeper".)))

The Six Trillion Dollar Problem

27 October 2010

By Greg Hunter’s

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JPMorgan, HSBC Accused of Manipulating Silver Futures

By Joel Rosenblatt and Bob Van Voris -

Thu Oct 28 04:27:00 GMT 2010

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Are You Taking A 'No Brainer' or 'Head in the Sand' Approach to Investing in Gold and Silver?

By Arnold Bock

Oct 27 2010 12:27PM

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Gonzalo Lira

Thursday, October 28, 2010

Signs Hyperinflation Is Arriving

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Mortgage battle gains steam as investors recruited

By Al Yoon and Alina Selyukh

NEW YORK | Thu Oct 28, 2010 8:55am EDT

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fyi -- Bank of America is getting crushed by Foreclosuregate, the share price is now down almost 50% from its 2010 highs, to 11-ish.))),uu[h,a]wacayiay[df][pc4...

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(((Yep -- and Hope is not a strategy.)))

Gold Will Outlive Dollar Once Slaughter Comes: John Hathaway

By John Hathaway -

Fri Oct 29 01:00:00 GMT 2010

Bloomberg Opinion

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(((this is just...interesting)))

China: Gaga for Gaming

By: Doug Hornig

Fri, Oct 29, 2010

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(((Something to ponder)))

Misguided Love Affair with China; China's Massive Monetary Expansion and Crackup Boom

Mike Shedlock

Friday, October 29, 2010

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(((I am taking this fairly seriously...)

Imminent Big Bank Death Spiral

By Jim Willie CB
Oct 28 2010 12:18PM

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(((Clive Maund accentuates and basically confirms Jim Willie's diagnosis. Lots of interesting commentary on the state of the union :-) )))

Gold Market Update
By: Clive Maund
Sun, Oct 31, 2010

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Silver Market Update
By: Clive Maund
Sun, Oct 31, 2010

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EverBank World Markets

A Pfennig For Your Thoughts

Chris Gafney

Tuesday, November 02, 2010

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A cure for the common cold may finally be achieved as a result of a remarkable discovery in a Cambridge laboratory

By Steve Connor, Science Editor

Tuesday, 2 November 2010

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QE2 risks currency wars and the end of dollar hegemony

As the US Federal Reserve meets today to decide whether its next blast of quantitative easing should be $1 trillion or a more cautious $500bn, it does so knowing that China and the emerging world view the policy as an attempt to drive down the dollar.

By Ambrose Evans-Pritchard, International Business Editor

Published: 9:56PM GMT 01 Nov 2010

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A Superpower in Decline

Is the American Dream Over?


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Keep Your Head Above Dollar

Peter Schiff

Nov 1, 2010

Excerpt: "The true purpose of QE 2 is to disguise the decreasing ability of the Treasury to finance its debts. As global demand for dollar-denominated debt falls, the Fed is looking for an excuse to pick up the slack."

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(((Well finally a bit of good news! :-) )))

No matter who voters choose on Tues., US foreign policy to remain unchanged

By Agence France-Presse

Tuesday, November 2nd, 2010 -- 6:08 pm

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Dimon Beset by Bad Loans as JPMorgan Pushes Overseas (Update2)

By Dawn Kopecki

Nov. 2 (Bloomberg)

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9 Years of Housing Backlog at Current Sales Pace; Chris Whalen on Troubled Banks "Bank of America is at Top of Restructuring List"

Mike Shedlock

Tuesday, November 02, 2010

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from Bruce Sterling at

about half way through the financial markets are discussed --

search for "Talking With Kevin Slavin"


The Missing Manual for the Future: Tim O’Reilly’s Four Cylinder Innovation Engine

Sun, Oct 31, 2010

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(((This is like "Back to the Future": let's pretend that the Bush years did not happen, and then let's de-regulate Wall Street and The Banks! Yippee Kai Yay, Cowboy... Will be interesting to see how this plays out when the Republican agenda fails to solve anything and people are still out of work in looks to be the case.)))

Business Looks to Republicans to Block Obama on Rules, Taxes

By Mark Drajem -

Wed Nov 03 02:10:36 GMT 2010

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(((Read this. Ameribucks unpopular. Devalued. Unloved.)))

China's Yuan Settlements Jump 160% as Nokia Shuns Dollars

By Bloomberg News -

Wed Nov 03 07:22:59 GMT 2010

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(((We're doomed...I don't see how the election results or the FOMC QE2 announcement change anything much.)))

Back to Reality

By Greg Hunter’s

3 November 2010

Excerpt: '“What is not yet widely recognized is that the Fed will have to monetize Treasury debt soon enough, regardless of any action taken or not taken next week by the U.S.central bank to rearrange the proverbial deck chairs on the Titanic. Monetization will be forced in an effort to prevent a systemic collapse . . . as the unexpectedly weak U.S. economy spikes the federal deficit, impairs Treasury fundings and the combination of factors pushes the U.S. dollar into a likely selling panic.”'

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QEII Announced, Fed Set to Buy $600 Billion in Bonds, Reinvest $250 Billion More; Fed Micromanaged Economy to Oblivion; No Miracles Coming

By: Mike Shedlock

Wed, Nov 3, 2010

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Obama Economic Team Passes Out the Kool-Aid

by Mary Bottari

Published on Wednesday, November 3, 2010 by PR

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Payback at the Polls

by Robert Scheer

Published on Wednesday, November 3, 2010 by

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(((Dollar craters today, weekly RSI still not below 30, more ahead...)))

Inflationary Thursday: Ben Drops the Big One

by: Philip Davis

November 04, 2010

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The Many Faces Of Deleveraging

November 2010

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(((Basically this is just a long rant. But if you can persevere, he does make a persuasive case for TEOTWAWKI :-)))

Two More Nails In The Dollar’s Coffin—the Republican “Victory”, and the Fed’s QE2

Gonzalo Lira

Thursday, November 4, 2010

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(((To say nothing of the municipalities.)))

Will Bailing Out the States Tank the Dollar?

by John Rubino on November 3, 2010

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The Biggest Threat to America

It's bankruptcy

by Justin Raimondo, November 05, 2010

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(((Things to think about. Curiously, he doesn't mention the fact that the US is profoundly and comprehensively bankrupt at all levels of government. If the Fed plans to monetize most of the uncollectible debts instead of allowing them to be written off, the US dollar must decline in value.)))

Dave’s Top 10 Reasons Why QE Won’t Help the Economy

November 4th, 2010

By David Goldman

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Logical Fallacies And Foreclosuregate

Posted 2010-10-31 21:58
by Karl Denninger
in Editorial

Excerpt: "Homeowners being told not to pay - on purpose - so as to "qualify" for help. They are then denied a modification."

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Note: The US Dollar Index is a trade-weighted index of the price of the US Dollar against the currencies of just six trading partners: Canada, Japan, Sweden, Switzerland, Great Britain, and Europe. Thus, declines in the dollar against the rest of the world's currencies are invisible if you are just looking at the US Dollar Index, and these currency gains may be captured in a global fund such as VT.)))

The Case for Holding a Core Global Equity Allocation

by: James Picerno November 05, 2010 | about: ACWI / VT

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(((I predicted Obama would capitulate on giving the rich tax cuts. He was adamant about this, but I'd seen him "in action" enough to know that he is a follower, not a leader.

We see in this, also, that neither party is serious about budget deficits. They'll have to see levees break and the financial storm waters drowning Americans before they act -- and even then their "solution" will be a corrupt, fraudulent scheme -- like "entitlement reform" after they've just blown through trillions bailing out their contributors. Knowing this we can confidently place our bets on the dollar's obliteration.)))

GOP, Obama embrace Bush tax cuts compromise

Friday, November 5th, 2010 -- 8:45 am

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The age of the dollar is drawing to a close

Currency competition is the only way to fix the world economy, says Jeremy Warner.

By Jeremy Warner

Published: 7:04AM GMT 05 Nov 2010

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(((The US is risking loss of faith in its debt instruments and the "moneyness" of the dollar itself!)))


* by Doug Noland
* November 05, 2010

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Fannie Mae asks for $2.5 billion in new US aid

By MARCY GORDON, AP Business Writer

Friday, November 5, 2010

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(((The US authorities have been unwilling to face reality and restructure the financial system. Instead they continue to shower trillions of dollars upon the same institutions which created the problems. In effect, they have turned capitalism's competition upside down, rewarding the guilty incompetents and punishing the innocent. Not only is this perverse but it creates an even bigger mess for the future, partly by ensuring that those who have proven themselves incapable of doing their jobs remain in positions of power.)))

Germany Blasts Bernanke

Results of Fed Stimulus Could Be 'Horrendous',1518,727457,0...

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(((Good article. A lot of it is about Money, not strictly politics. And knowing what is the what in politics -- overall -- gives us strong clues about the future (where we will or will not be going.))))

Obama Was Used, And Is Now Used Up

by Robert Freeman

Published on Sunday, November 7, 2010 by

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(((I found this interesting. Interesting discussion of Bubbles. Left out the part about how the subsequent Bubble is never a repeat of the prior Bubble. And neglects/misses the obvious: we are in Kondratieff Winter now (though I have approx. 35% in equities, including some US.)))

S&P 500: 1,300 by Christmas?

by: Andrew Butter November 07, 2010 | about: SPY

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(((This is unsustainable. What happens when it is no longer sustained by lenders? Monetization? Collapse?)))

Number of the Week: $10.2 Trillion in Global Borrowing

November 6, 2010, 11:13 AM ET

By Mark Whitehouse

$10.2 trillion: The amount of money advanced-nation governments will need to borrow in 2011

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missed one...

(((A must read. His political side-commentary may sound like tongue-in-cheek to you. It is not. It isn't hyperbole. Major developments are now rapidly unfolding. Developments such as castration of the US empire's military force may well take some years, but all of that hardware and the salaries are hugely expensive -- when the US debt explodes and the dollar implodes, the US' global force projection will quickly vanish, without opponents even needing to fire a single bullet.)))

Gold Market Update

By: Clive Maund | Sun, Nov 7, 2010
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(Stockman rips both parties for the Big Lie about taxes. Says US becoming a "banana republic" and states unequivocally that taxes will be raised and spending cut, eventually. Three decades of deficits following the Reagan tax cuts have ruined us and we must now accept the short term damage to the economy in order to save the economy in the longer run. I agree with what this guy is saying but I do not believe either party will do anything serious until after the disaster has struck.)))

Reagan budget chief slams GOP on taxes

By Daniel Tencer

Sunday, November 7th, 2010 -- 3:43 pm

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(((cartoon about the new austerity agenda in DC)))

* * *

(((Perhaps when the current system is ashes this proposal might be seriously considered :-) Still...just the proposal's dissemination should motivate buyers, and make the central bank sellers of the past decade -- And Gordon Brown -- look like fools. )))

(((Note: as of the market close today (Monday), SLV has weekly RSI of 80.18! In theory we might need to be looking for the monthly RSI to hit 80 -- but, regardless, odds favor SLV trading below today's closing price sometime in the future...unless this truly is TEOTWAWKI.)))

World Bank chief moots return to gold standard

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A Lesson the Fed Hasn't Learned

by: Arnbjorn Ingimundarson November 09, 2010 | about: SPY

* * *

Has the Dollar ALREADY Lost Its Status As World Reserve Currency?

Tuesday, November 9, 2010

* * *

Bond Insurer Ambac Files for Bankruptcy

By Tom Hals

November 8, 2010

* * *

(((This will quite possibly have a large impact.)))

Central dogma of genetics maybe not so central

* * *
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iPad is No. 3 holiday wish, after world peace/happiness and a laptop

Posted by Philip Elmer-DeWitt

November 10, 2010 10:02 AM

* * *

China may be bigger economy than US within two years

Jeremy Warner

November 10th, 2010

* * *

White House sets new Afghan deadline for 2014

By Eric W. Dolan

Wednesday, November 10th, 2010 -- 10:55 am

* * *
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No. of Recommendations: 0
(((Why the stimulus was a slush fund for bureaucratic shopping sprees!)))

Backlash grows over TSA's 'naked strip searches'

by Declan McCullagh

November 11, 2010 4:00 AM PST

"Through the Recovery Act, we are able to continue our accelerated deployment of enhanced technology as part of our layered approach to security at airports nationwide," -- Janet Napolitano.

* * *

(((This one is an easy read and it provides a good summary of how we got here.)))

Bank of America Is in Deep Trouble, and There May Be Financial Disaster on the Horizon

By Joshua Holland

November 11, 2010

* * *

(((A really deep in-depth article -- with lots of charts :-) )))

Crossing the Rubicon into the World of QE-2

By Gary Dorsch

Nov 11 2010 2:02PM

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No. of Recommendations: 0
Matt Taibbi: Courts Helping Banks Screw Over Homeowners

Retired judges are rushing through complex cases to speed foreclosures in Florida

Nov 10, 2010 2:25 PM EST

Excerpt: "You've heard of Too Big to Fail — the foreclosure crisis is Too Big for Fraud. Think of the Bernie Madoff scam, only replicated tens of thousands of times over, infecting every corner of the financial universe. The underlying crime is so pervasive, we simply can't admit to it ..."

* * *

Now Start Watching Interest Rates, Part 3

By: John Rubino | Fri, Nov 12, 2010

SEE 30 YR YIELD:$TyX,uu[h,a]wacayiay[df][pb...

* * *

Pressure on Ireland eases after EU statement

By Lorraine Turner and Gernot Heller

On Friday November 12, 2010, 6:05 am EST

* * *

The World from Berlin

'G-20 Solidarity Is Crumbling'


* * *

Congratulations to Cisco Insiders for Dumping 6,620,750 Shares, 60% of Holdings in 6 Month; Cisco CEO Whines about Taxes; Is Chambers Worth a Dime?

Mike Shedlock

Thursday, November 11, 2010

* * *

(((I'm not sure I can buy into all his most extreme predictions -- predictions with timeframes are notoriously difficult -- but a 2011 sell-off in stocks and bonds makes sense (and could it be that the coming inflation doesn't help stocks much?))))

Part One Of Trader Tracks 2011 Predictions

Roger Wiegand

Nov 11 2010 3:20PM

* * *

Suffocated By Red Tape – 12 Ridiculous Regulations That Are Almost Too Bizarre To Believe

* * *

15 Reasons Why Barack Obama’s Debt Commission Is An Exercise In Futility – The U.S. Government Will Never Have A Balanced Budget Ever Again

* * *

(((Another $8.5 billion. I prefer UPS: friendlier, faster, less hassles -- going into a post office is never a happy experience for me.)))

Losses double for U.S. Postal Service

By Aaron Smith, staff writerNovember 12, 2010: 12:46 PM ET

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No. of Recommendations: 0
(((Uh-oh. Muni bonds cratering...that bodes ill for the US.)))

Muni ETFs Take A Tumble

By Murray Coleman

November 12, 2010, 8:01 PM ET

SEE ALSO:$NMUNI,uu[h,a]dallniay[df][...,uu[h,a]dallniay[df][pc1...

* * *

The Official Start of QE2

by Doug Noland

November 12, 2010

* * *

Get Ready for the Great MERS Whitewash Bill

By: John Carney
Senior Editor,

Friday, 12 Nov 2010 | 9:45 AM

* * *

Ireland Goes Bust, Irish Bank Run

By: Mike_Whitney

Nov 12, 2010 - 02:35 AM

* * *

Penny-pinching consumers cutting cable, cell service

By Ben Patterson ben Patterson

Fri Nov 12, 1:14 pm ET

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No. of Recommendations: 0
(((We are well beyond the end of the beginning of the end...
of the US Dollar as Earth's "reserve currency".)))

Abhisit calls on Asia to use yuan in trade

G20 makes no progress in curbing capital flows

Published: 13/11/2010 at 12:00 AM

* * *

(((I am stunned by this. Mind blown, cannot grok!
Read before buying shares of GOOG :-) )))

Singel-Minded: How Facebook Could Beat Google to Win the Net

By Ryan Singel Email Author

November 13, 2010 1:04 am

* * *

(((Ireland refused, like the US, to follow the Swedish model for
banking crises: nationalize failing banks, set up bad bank
to hold bad debt assets from nationalized banks, and re-float banks.
Sweden also devalued their currency, which Ireland cannot do.
The US could/is devaluing its currency but refuses to resolve the
"bad debts" clogging up the system, and which are delaying the
recovery. The US faced the problem of a derivatives meltdown
but it now appears that the price of resolution is/will be much
higher than if the problems had been faced head on and fixed.)))

Ireland's young flee abroad as economic meltdown looms

Many young people are seeking to emigrate rather than face a life of hardship as the republic lurches towards financial collapse

David Sharrock in Dublin

The Observer, Sunday 14 November 2010

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No. of Recommendations: 0
(((Greenspan is the Boy Who Denied The Existence Of Wolves.
He has zero credibility now, though this time what he
is saying is almost certainly correct. Why did he wait to
speak clearly, concisely and honestly until he retired? Oh...
that sounds like a rhetorical question :-) )))

Greenspan: High deficits could spark bond crisis


On Sunday November 14, 2010, 1:16 pm

* * *

China May Surpass U.S. by 2020 in `Super Cycle,' Standard Chartered Says

By Shamim Adam

Mon Nov 15 04:49:41 GMT 2010

* * *


Gary Shilling Sees `Significant' Stock Selloff Within 12 Months

By Rita Nazareth

Fri Nov 12 21:47:37 GMT 2010

* * *

The Tidal Forces Ripping Europe Apart

Gonzalo Lira

Friday, November 12, 2010

* * *
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G20 Post-Mortem: 'Chimerica' Has Been a Chimera

Why a Disastrous Trade War May Be Coming Our Way

By Marshall Auerback

November 15, 2010 | about: CYB / FCHI / SPY

* * *

(((Neither party has the balls to cut spending elsewhere
to pay for these tax cuts, which amount to trillions
over a 10 year period. So this topic is of immense interest --
if even the Republicans are flippy-floppy and insincere about
fiscal prudence then it makes a great deal of sense to use
every good opportunity to sell dollars after the current
dead-cat-bounce concludes (the Euro is sick right now so
that makes the Dollar the Dog's Breakfast :-) )))

Bush tax cuts: What nobody is talking about

By Jeanne Sahadi, senior writer

November 15, 2010: 9:58 AM ET

* * *

European Soap Opera

by Satyajit Das

November 16, 2010

* * *

One in 7 US households hit by hunger issues in 2009

Source: Reuters

* Emergency food pantry use up sharply in recent years

* Food stamps used by 15 million families a month in 2009

By Jerry Norton

15 Nov 2010 23:15:27 GMT

* * *

Oil to run out 100 years before replacements become viable, study claims

By Agence France-Presse

Monday, November 15th, 2010 -- 4:41 pm

* * *

Google CEO: Android update "could replace credit cards"

By Julianne Pepitone, staff reporterNovember 15, 2010: 7:28 PM ET

* * *
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No. of Recommendations: 0
Watch the Signs: Next Bubble Will Be in Bond Funds

By Mike Yaktus

Nov 16, 2010 10:00 am

Why? Because the retail crowd is in and they don't think they can lose, bonds are a new paradigm, and nobody sees it.

* * *

The 17 Things Worrying Investors Right Now

By Lloyd Khaner Nov 16, 2010 11:10 am

"Lloyd's Wall of Worry" looks at all that's making the market fearful, including taxes, terrorism, and mixed predictions for the holiday season.

* * *

Gap, Wal-Mart Clothing Costs Rise on `Terrifying' Cotton Prices

By Bloomberg News -

Tue Nov 16 01:48:57 GMT 2010

* * *

Faber's 'Crack-Up Boom' Scenario Could Be Ruinous for Emerging Markets

by: Nathaniel Crawford

November 16, 2010 | about: EEM / UDN / UUP

* * *

The Consequences of Mortgage Irregularities for Financial Stability... in Plain English

By Kevin Depew

November 16, 2010 09:59 AM

* * *

Taibbi: the Tea Party Moron Complex

By rallying behind dingbats and morons like Palin and Michele Bachmann, the Tea Party has made anti-intellectualism its rallying cry.

November 14, 2010

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Weaker Dollar Seen as Unlikely to Cure Joblessness

Published: Tuesday, 16 Nov 2010 | 10:24 AM ET

By: Motoko Rich and Jack Ewing

The New York Times

* * *

BOB RUBIN: "US In Terribly Dangerous Territory," Bond Market May Be Headed For "Implosion"

Aaron Task | Nov. 17, 2010, 11:24 AM

* * *

The horrible truth starts to dawn on Europe's leaders

By Ambrose Evans-Pritchard

Last updated: November 16th, 2010

* * *

Have (infinite) war, will travel
By Pepe Escobar

South Asia
Nov 18, 2010

* * *

(((Instantaneous communication -- FTL -- as well as quantum
teleportation have been proven to be "real". Moreover, the
Many Worlds Hypothesis has not been disproven; infinite
universes may be "real" as well. A multitude of wonders
lie ahead if past is prologue...)))

Proof of extra dimensions possible next year: CERN

By Reuters

Tuesday, November 16th, 2010 -- 10:10 am

Excerpt: 'Scientists at the CERN research center say their "Big Bang"
project is going beyond all expectations and the first proof of the
existence of dimensions beyond the known four could emerge next year.'

* * *
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No. of Recommendations: 0
(((A bold call...)))

"Bond Mkt Implosion & Gold Tactics"

Stewart Thomson

Nov 16, 2010

* * *

Artificially Low Interest Rates Do Permanent Economic Damage

David Trainer

Nov. 17 2010 - 6:52 pm

* * *

(((QE2 is just another form of Trickle-Down Economics.)))

Bernanke's `Cheap Money' Stimulus Spurs Corporate Investment Outside U.S.

By David J. Lynch

Wed Nov 17 05:01:01 GMT 2010

* * *

The World Economy Flounders

By Steve McCann

November 17, 2010

* * *

The Tarnishing of Buffett

By Jeff Nielson 11/17/10 - 03:59 PM EST

* * *

(((Relentless, indefatigable, impenetrable stupidity is Job One
for Team America :-) )))

The Religion of Politics

by David Michael Green

Published on Wednesday, November 17, 2010 by

Excerpt: "This is a country that just elected a government which -
for the third major iteration in a single generation - is once
again promising radical tax cuts for the wealthy and a balanced
budget at the same time. How willfully stupid do you have to be
to believe that that little exercise will turn out differently
this time than it did when Reagan instead tripled the national
debt, or Lil' Bush doubled it? "

* * *
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Full Year of Muni Gains Wiped Out in 2 Weeks; California in Shambles, Philadelphia Downgraded; Issuance Soars; Horrid Muni Risk-Reward Setup

Mike Shedlock

Wednesday, November 17, 2010 1:30 PM

* * *

Economic power shifting from U.S. to China, Soros says


TORONTO— Globe and Mail Update

Published Monday, Nov. 15, 2010 9:55PM

* * *

GM’s Gigantic IPO: Investors Bet An Old Dog Can Do New Tricks

Francine McKenna

Accounting Watchdog

Nov. 18 2010 - 9:31 am

* * *

(((Suggests EWA (Australia), EWC (Canada), and ENZL (New Zealand). This
is good thinking. However, for these "commodity countries" we need to
be alert to the position and trend in $CRB, the commodities index so as
not to buy a near term top. In addition, for USers, we need to be alert
to the position and trend of the underlying currencies -- for the same
reason. If these countries are truly solid "investments" for the long
term then we have time to carefully choose good entry points.
Making these wagers is a trifecta on commodities, currencies and
countries and I would like to have the wind at my back on all three.)))

How Investors Can Play the BRIC Through a Different Set of Country ETFs

By Eric Dutram, ETF Database

November 18, 2010

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No. of Recommendations: 0
(((Am expecting ADM to drop another 10% -- maybe...Or not.
FYI, I have a half-allocation of ADM.)))

Presidential candidates’ date with destiny: Ethanol subsidies expire Dec. 31

by Dr. Denny

Posted on November 18, 2010

* * *

Intel: Headed For Q4 Miss?

By Eric Savitz

November 18, 2010, 9:58 AM ET

* * *

Europe stumbles blindly towards its 1931 moment

It is the European Central Bank that should be printing money on a mass
scale to purchase government debt, not the US Federal Reserve.

By Ambrose Evans-Pritchard

10:00PM GMT 14 Nov 2010

* * *

(((The "War Party" -- i.e. The Democratic and Republican "parties" -- are
united in their belief that the USA will rule Earth forever, much like
the Third Reich, except far longer. Questions about cost, practicality
and the self-defeating nature of this dubious goal are really not up
for debate...except insofar as spending more than a trillion dollars a
year on "defense" and "national security" will require abandonment of
adequate Social Security, Medicare, infrastructure, education and
basically, our whole freaking economy, which is now a hollowed out
shell serving only the military-industrial-entertainment complex and
the government itself. So that's what Raimondo is talking about here,
for the bazillionth time. We can have peace, prosperity and our
constitutionally "guaranteed" liberties, or we can go bankrupt as
servile peon underlings for an overclass striving for Total World
Domination. It is really that simple.)))

A ‘Sustainable’ Empire?

Cutting the military budget: the debate begins

by Justin Raimondo, November 17, 2010

* * *

(((The US was supposed to be doing "clear and hold" operations wherein
they defend villagers from the evil insurgents, eventually winning hearts and
minds. Obviously that is total horse-flop. After 9 years of war the
U.S. is losing because it is not winning -- there is nothing to
win, and because the U.S. is going bankrupt. The resistance movement
wins simply by not losing, while the US atrocities and "shock and awe"
tactics are guaranteed to fail strategically, in Afganistan and
at the global strategic level, no matter how many Afghanis are murdered
and tortured by Americans.)))

U.S. deploying heavily armored battle tanks for first time in Afghan war

By Rajiv Chandrasekaran

Washington Post Staff Writer

Thursday, November 18, 2010; 11:12 PM

* * *
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Bernanke Claims That Contrary To Consensus, He Is Not Spawn Of Satan,
Deflects Fed Blame To China

Submitted by Tyler Durden

11/18/2010 23:54 -0500

* * *

Is the Global Economy Rolling Over?


6:30 AM 11/17/10

* * *

(((Small investors reportedly abandoning stocks in favor of bonds and
other "safe" fixed income assets. Good for them :-) Buy those bonds,
haha. )))

Special report: A far from random walk from Wall Street

By Leah Schnurr and Edward Krudy

NEW YORK | Fri Nov 19, 2010 10:46am EST

* * *

OECD: Emerging Markets to Grow at a Faster Pace

by: David Hunkar

November 19, 2010

* * *

(((I agree. This appears likely. The US is regressing to a
pre-Enlightenment, anti-science, know-nothingism encouraged by
rightist politicians and fundamentalist preachers. The "war"
on "terror" is now a mostly self-inflicted horror show of
power-mad bureaucrats and politicians grabbing for power and
loot, purposely terrorizing their own citizens for self-gain.
There is no way up without completing the fall and hitting a
hard bottom which forces people to reassess their Friends and
Enemies lists.)))

U.S. May Be Headed for Downward Spiral, Says Pulitzer Prize-Winning Journalist

Stacy Curtin

Nov 19, 2010 11:00am EST

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No. of Recommendations: 0
(((This is the article to ponder over the weekend. Mr. Noland
discusses past and present Fed policies -- though "discusses" may be
too mild. Perhaps the Fed's long history of pumping trillions of
dollars into the global financial system to engineer higher asset
prices is drawing to a close: "My premise has been that the markets
will inevitably discipline Washington. This may occur after it works
its way up the food chain")))

Ideological and Hostile

Doug Noland

November 19, 2010

* * *
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Dollar to Become World’s ‘Weakest Currency,’ JPMorgan Predicts

By Shigeki Nozawa

Nov. 18 (Bloomberg)

* * *

California posts biggest job gain since May 2006

The state added 39,000 jobs, across many sectors, in October. Though the
unemployment rate was unchanged, economists believe the recovery may be
building steam.

By Alana Semuels, Los Angeles Times

November 20, 2010,...

* * *

(((Considering "quality of life", Japan looks pretty dang fine compared
to the US: universal healthcare, lonnnnnng life expectancy, low
unemployment, low crime rate... And of course, not an enemy of all of
Islam globally, so not terrorized constantly by politicians trying to
avoid talking about economics :-) )))

Reconsidering Japan… Reconsidering Paul Krugman

by Steven Hill

Published on Saturday, November 20, 2010 by

* * *

Why U.S. IT jobs aren't coming back

As the economy recovers, the jobs are going to India and other
cheap-labor nations

By Galen Gruman | InfoWorld

November 18, 2010

Excerpt: "In fact, an additional 600,000 American and European jobs in
IT will disappear in the five years from 2010 through 2014, on top of
the 500,000 lost in the 2008-2009 period."

* * *

As Banks Go, So Goes the Economy

Greg Hunter’s

19 November 2010

* * *
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NATO summit to embrace indefinite Afghan war

James Cogan

20 November 2010

* * *

As stock market soars

US House fails to extend jobless benefits

By Barry Grey

19 November 2010

* * *

The Billionaires Want More, More, More

by Bernie Sanders

November 20, 2010

* * *

(((To the extent that this communique is authentic, and that "Al Qaeda"
really even exists aside from a small network of operatives around the
globe, their plan is working because of the insane over-reactions by
the US government. Wars in Afghanistan, Pakistan, Iraq, Somalia
and Africa speak to the insanity of the U.S. government. None of these
wars are attacking the 9/11 operatives and schemers. Instead, the U.S.
is trying to suppress all peoples who oppose U.S. hegemony and military
occupation of their homelands. I mention this because it bodes
ill for U.S. investors, not because there is any way to stop the
insanity by posting a negative review on a website. The U.S. is bleeding
itself dry trying to occupy key energy producing regions -- Central
Asia and the Middle East; China is just buying its resources, using
our Ameribucks, which is a helluva lot cheaper than blowing up everything
in sight and torture/murdering millions of people...

One other point: the U.S. government is not really serious about
"defending the homeland" because it still refuses to scan and inspect
all shipments of goods into the U.S. And to defend its borders. The
full body scanning thing is ridiculous because it won't stop shipments
of nukes and other WMDs into the U.S., and that is the only really
big danger -- hijacking a single plane is unlikely to do much damage
now that the Air Force is standing up again (on 9/11 the Air Force was
AWOL, and Stood Down for some highly suspicious, treasonous reason.) )))

Al Qaeda Promises U.S. Death By A 'Thousand Cuts'

Terror Group Boasts That Printer Bomb Cost Only $4200, Meant To Bleed U.S. Economy

Nov. 21, 2010

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(((This is educational. And a little bearish.)))

Rising Rates Should Alarm Investors

by: Jeb Handwerger

November 21, 2010

about: AGQ / CNY / CYB / FXI / GLD / TBT / TLT / UDN / UGL / UUP

* * *

(((This one is really good stuff. Very educational.)))

Banks, The U.S. Consumer, And Why U.S. Long Bond Yields Are Heading Higher

by: Prieur du Plessis

November 21, 2010

* * *

(((The dollar is gradually losing its reserve status...)))

China Allows Yuan to Start Trading Against Ruble

--Judy Chen. Editors: James Regan, Ven Ram

November 21, 2010, 10:05 PM EST

* * *
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No. of Recommendations: 0
Roubini Maps Out Nightmare Scenario of Domino Debt Collapse in Europe

By: Ash Bennington

NetNet Writer, Special to

Published: Friday, 19 Nov 2010 | 8:18 AM ET

* * *

(((From $19 billion now (really?) )))

China Construction Bank Predicts Yuan Trade to Reach $3 Trillion by 2015

By Katrina Nicholas -

Tue Nov 23 04:41:05 GMT 2010

* * *

(((Keep a wary eye on this)))

China's State-Planned Economy Is Doomed to Flop: David Pauly

By David Pauly

Bloomberg Opinion

Tue Nov 23 02:00:00 GMT 2010

* * *

Civil unrest and riots feared as Ireland’s bank crisis worsens

By DARA KELLY Staff Writer

Updated Monday, November 22, 2010, 5:16 AM

* * *

Inflating the Debt Away

By: Steve Saville

Mon, Nov 22, 2010

* * *

(((I hate to actually come right out and say it, but *this* may be
the final big wave in this gold cycle -- in other words, it could be
that we're going up from here, all the way to the parabolic, blow-off
top of, what, $2600? Or, we see the normal harsh correction...
and then the bull resumes ... for ? years ...???)))

Soros Gold Bubble Expanding as ETPs Hold 9 Years of U.S. Output

By Nicholas Larkin and Pham-Duy Nguyen

Mon Nov 22 16:26:18 GMT 2010

* * *
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No. of Recommendations: 0
(((Farrell has become an extreme reactionary. However, it will
be very interesting to see the collision between the GOP
and Obama. Obama is a terrible negotiator and/or he is a
closet Republican, so I fully expect the GOP to win every
round and Obama to dislocate his shoulders with self-pats
on the back. Still, I don't expect real "tough love"
for average Americans from the GOP -- that would cost too
many votes prior to 2012. Mostly, I think, they'll just
continue to obstruct the Obamacrats and to press for tax cuts,
then ultimately blame him for the deficit and unemployment.

P.S. I will never ever again vote for a Dem or a Repub at
any level of office no matter what, not even if Sarah Palin
is running -- both parties are of, by, for and full of
imbecilic, treasonous, traitorous, corrupt, murderous criminals...
if that isn't understating matters...)))

Kamikaze Capitalism: GOP out to destroy

Commentary: In targeting Obama, economy, jobs, security also thrown under bus

Paul B. Farrell

Nov. 23, 2010, 12:01 a.m. EST

* * *

(((Interesting :-) )))

The truth about California

Commentary: Maligned state is actually saving the rest of us

Brett Arends' ROI

Nov. 22, 2010, 6:59 p.m. EST

* * *

(((I interpret this as a move by Korea's new fearless leader, Kim Jong Un, to
prove that he is tough as nails and not to be trifled with.)))Tensions high as North, South Korea trade shelling

By HYUNG-JIN KIM and KWANG-TAE KIM, Associated Press Hyung-jin Kim And Kwang-tae Kim, Associated Press


* * *

(((Report: listed + "shadow inventory" = 6.3 million homes = 23 month inventory.)))

'Shadow inventory' of 2.1 million homes may loom in U.S. market

By Alejandro Lazo, Los Angeles Times

November 23, 2010

* * *
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No. of Recommendations: 0
(((After extracting harsh concessions from the poor, sufficient
money will be printed to bail out all of the wealthy. Riots, shmiots!
Let them eat cake.)))

Gloom, anger, fear spread across Europe as key economies teeter
on the edge of collapse

Alan Clendenning and Shawn Pogatchnik, Associated Press,

On Wednesday November 24, 2010, 6:29 pm EST

see also:

* * *

Fed's power of the press hits limit

Bill Fleckenstein

Contrarian Chronicles

11/19/2010 11:23 AM ET

* * *

Tom the Dancing Bug: A Security Issue at the Office

Ruben Bolling at 11:00 AM Wednesday, Nov 24, 2010

* * *

Firms See Long-Sought Goal in Sight: Major Pay Cuts

by Roger Bybee

Published on Wednesday, November 24, 2010 by In These Times

* * *

United Straits of America: The Muni Bond Crisis Is Here

By: Elliott Wave International

Wed, Nov 24, 2010

* * *
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No. of Recommendations: 0
((("shooting star" chart pattern on monthly $CRB index mentioned --
may foretell 17% decline in commodities)))

Now We're Talking Turkey

By Jon Nadler

Nov 24 2010 10:15AM

see chart:

* * *
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SP 500: Caveat Emptor!

By: Prieur du Plessis

Thu, Nov 25, 2010

* * *

(((Willie has been right on target for years, predicting, among
other things that the mortgage bailout would require ++$trillions.
So, when he says gold is definitely going to $2000 in the next
couple of years and that physical buyers of gold and silver are
squeezing the paper markets, I find myself compelled to reassess
my the a lot. Just pray for some more
weakness in the paper markets, haha.)))

QE2 & The Great Misdiagnosis

By Jim Willie CB

Nov 24 2010 1:45PM

* * *

(((Bailing out the banks and Wall Street saved the economy? Not so
much. They're recording most of the increased profits of the 3rd
quarter, and corporate profits as a percentage of GDP are at record
highs, but the profits are not trickling down except as bonuses to
the executives who created the problem in the first place and
the rest of the economy is stuck in a very harsh recession.)))

Fail and Grow Rich on Wall Street

Posted on Nov 24, 2010

By Robert Scheer

* * *

Is America on the path to 'permanent war'?

By John Blake, CNN

'"The U.S. is not on the path to permanent war; it is in the midst
of a permanent war,"'

* * *
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No. of Recommendations: 0
Surge Of Inexplicable After Hours Selling Takes Gold Volatility Index To All Time Low

Submitted by Tyler Durden

11/26/2010 20:07 -0500

* * *

(((Haha! Thx to Mike Shedlock for pointing out this laugh!
As long as the US can freely print trillions of dollars why
in the world would it sell its puny gold reserves (a mere 8000 tons...))))

PBOC Researcher Calls on U.S. to Sell Gold, People’s Daily Says

By Bloomberg News

Nov. 25 (Bloomberg)

* * *
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No. of Recommendations: 0
In Rare Agreement with Krugman; Onerous "Bailout" Rates of 6.7% Denied;
Don't do Stupid Things; "Tell the EU and IMF to Shove It!"

Mike Shedlock

Friday, November 26, 2010 8:52 PM

* * *

(((This would appear to bode well for MSFT...if
they had a Clue what to do with it...)))

Inside the race to hack the Kinect

19:23 23 November 2010 by Jim Giles

* * *


Trading News Psychology

Adam Hamilton

November 26, 2010

* * *
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No. of Recommendations: 0
(((Well this looks marvelous. Except for the EU debt crisis,
insolvency of the US financial system, and a permanent state of
war/corporate welfarism mixed with a) governmental totalitarian bent
and b) popular regressivism of xenophobia, know-nothingism and fundamentalism.
If it weren't for all that I'd say BUY BUY BUY them stocks! Yahoo!!!
We haven't reached a conclusion on anything and grounds for
optimism are quite dubious. Unless you are able to pick winning stocks
in a flat or down-trending market it may be time to step back and
want for the final cookie to crumble...)))

Top 5 Graphs of the Week: U.S. GDP Expanding Faster Than Expected

by: Econ Grapher

November 28, 2010

about: CUD / DIA / GBB / JYN / QQQQ

* * *

(((We've reached then End Of the Beginning stage of the crisis,
now we await news on haircuts/defaults, for that which is unsustainable
won't be...)))

European Debt Crisis: 'We’re Not Greece!,' 'We’re not Ireland!,'
'We’re not Portugal!'

by: The PolyCapitalist

November 28, 2010

about: AGQ / DBP / DGP / DRR / DZZ / EU / EUFN / EUO / FXE / GLD / GLL /

* * *

A Majority Of Americans Believe The US Government No Longer
Operates Within The Constitution

Submitted by Tyler Durden on 11/26/2010 15:21 -0500

* * *
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No. of Recommendations: 0
Investor Sentiment: Smells Like A Top

By: Guy Lerner

Sun, Nov 28, 2010

* * *

(((Bullish -?- With Bearish Cautions.)))

WSJ Blames Gold Prices on Trade Council

By Forrest Jones

Sunday, 28 Nov 2010 12:39 PM

* * *

High prices fuel miners' gold rush

Barry FitzGerald

November 29, 2010

* * *
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No. of Recommendations: 0
This turned out VERY interesting:

because it was only last week that the wikileaks
founder was the subject of an international
warrant for his arrest for rape -- investigation
of alleged, thereof. just before the previous dump
by wikileaks Sweden publicized the rape -- alleged --
charges, so ...

It looks like the US and Sweden have been
using legal threats each time to try to prevent
the leaks, but may have actually forced
early publication of the data to fight off the
official legal attacks!

And in the context of what appears to have been
output, the wikileaks dump is a torpedo fired
at the USS Permanent State Of Global War.

Finally, it is revealed that Saudi Arabia is not only
still financing Al Qaeda, but that the Saudi King has
repeatedly urged the US to bomb Iran (!), so we wonder
what kind of Game is Saudi Arabia really playing?
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No. of Recommendations: 0

House on Ice

John P. Hussman, Ph.D.

November 29, 2010

* * *

(((Says we're at April 1930, and to exit common stocks for your own
good...he who loses least...)))

There's a hard rain a 'comin'

Richard Russell snippet

Dow Theory Letters

Nov 29, 2010

* * *

(((Very interesting)))

Time Tested Wisdom: For Commodity Bulls, 'Don't Fight the Fed'
Becomes 'Don't Fight Beijing'

by: Mercenary Trader

November 28, 2010

about: CU / DBC / ERO / FXF / FXI / GDXJ / OIL / SLW / SSRI / UUP

* * *
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No. of Recommendations: 0
(((BAC down > 3% today and is down nearly 80% since January 2007!)))

Will next WikiLeaks data dump 'take down' Bank of America?

Posted: November 30, 2010 3:55 PM EST


WikiLeaks Says It Holds Documents From Bank of America Executive

By David Mildenberg -

Tue Nov 30 20:53:37 GMT 2010

* * *

Hedge fund manager Mark Hart bets on China as the next 'enormous credit bubble' to burst

By Louise Armitstead

6:00AM GMT 29 Nov 2010

* * *

Imperial America's End Time

By Stephen Lendman at

Tuesday, November 30, 2010

* * *
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No. of Recommendations: 0
Bulls Drop A Monster Bomb On The Bears:
Here's What You Need To Know


Joe Weisenthal, On Wednesday December 1, 2010, 4:00 pm EST

* * *

Economy appears headed for strong finish for 2010

Christopher S. Rugaber, AP Economics Writer,

On Wednesday December 1, 2010, 5:58 pm

* * *

"Portugal Insolvent" says Citigroup Chief Economist;
Why Ireland Will Default

Mike Shedlock

Tuesday, November 30, 2010 3:33 PM

* * *

20 Statistics That Prove That Global Wealth Is Being Funneled
Into The Hands Of The Elite – Leaving Most Of The Rest Of The
World Wretchedly Poor

* * *

(((Fascinating. The answer is no, apparently. On top of the
various security features employed by wikileaks, their
encrypted "insurance" file was published some weeks ago --
simply revealing the password is all they need to do to
retaliate if more US/Swedish dirty tricks are played...
calling Julian Assange a rapist and demanding his execution
isn't going to make that insurance file disappear :-) I am
reminded of the novel, "Shibumi" by Trevanian... )))

Could US military take Wikileaks offline?

By Jerome Taylor

Tuesday, 30 November 2010

* * *
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No. of Recommendations: 0
Mobius Says `Consumers Are Back' as U.S. Shopping Drives Stocks

By Michael Patterson

Wed Dec 01 17:15:03 GMT 2010


* * *

Volcker Says Dollar's Role in Danger as U.S. Influence Declines

By Peter S. Green

Wed Dec 01 13:37:36 GMT 2010

* * *

NASA reportedly discovers ‘completely alien’ life on Earth

By David Edwards

Thursday, December 2nd, 2010 -- 11:52 am


* * *

(((This is a Wow)))

IBM chip breakthrough may lead to exascale supercomputers

New technology could help make the faster supercomputers a
thousand times faster

By Agam Shah, IDG News Service

November 30, 2010 08:12 PM ET

* * *

WikiLeaks vs. the Political Class

Why they hate Julian Assange

by Justin Raimondo

December 01, 2010

* * *
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No. of Recommendations: 0
China Plans $1.5 Trillion Spending on Strategic Industries, Reuters Says

By Bloomberg News -

Fri Dec 03 02:00:16 GMT 2010

* * *

Why China's Leading Indicators Are A Big Flashing Warning
Light To Albert Edwards; A Triple Dip Headfake In The US?

Submitted by Tyler Durden

12/01/2010 21:24 -0500

* * *

(((Obama is a horribly ineffective and incompetent president ...
but a smooth and practiced liar. A+ for Lying, D- for Leadership.)))

President Obama: offshoring fears are outdated, unwarranted

By John Ribeiro, IDG News Service

November 06, 2010 11:20 AM ET

Excerpt: "The perception that Indian call centers and back
office operations cost U.S. jobs is an old stereotype that
ignores today’s reality that two-way trade between the U.S.
and India is helping create jobs and raise the standard of
living in both countries, U.S. President Barack Obama told
a gathering of business executives in Mumbai on Saturday. "



The Hackett Group: Acceleration of Offshoring Trend Driving Loss of
Millions of Finance and IT Jobs in U.S. and Europe

Posted on 12/02/10 at 9:42am

by Benzinga Staff

Excerpt: "There's no end in sight for the jobless recovery in
business functions such as corporate finance and IT, in large
part due to the accelerated movement of work to India and other
offshore locations, according to new research from The Hackett
Group, Inc. (NASDAQ: HCKT). The dramatic job losses seen by
U.S. and European companies in 2008 and 2009 are expected to
continue through 2014, according to The Hackett Group. "

* * *

(((The so-called "rape" investigation? Not so much... The complaint
is that Julian Assange didn't use a condom the second time...

This is quite obviously a political prosecution. I am surprised and
shocked that Sweden would participate in such a profoundly unjust
and totally bogus plot. Imagine that, an Interpol warrant for
failure to use a condom. Another proud moment... It saddens me that
there isn't even one country in the West with the tiniest bit of
pride or integrity, not enough to stand up for itself and tell the
US to bugger off.

The real crime here is the prosecution itself. Sweden has issued
an indictment of itself!)))

When it comes to Assange rape case, the Swedes are making it up
as they go along

by Melbourne barrister James D. Catlin,
who acted for Julian Assange in London in October.

Thursday, 2 December 2010 / 26 comments


Lawyer: Sweden investigating Assange for sex without condom

* * *

State Secrets or Blazing Stupidity? US a Pawn for Oil Producers? Next Stop 'Secret Police'

By: Mike Shedlock

Thu, Dec 2, 2010

* * *
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No. of Recommendations: 0
(((Interesting review of what's up!)))

Global Macro Notes: Have the Bears Been Vanquished?

by: Mercenary Trader

December 03, 2010

about: AGU / DIA / FCG / FXI / GDXJ / QQQQ / SLW / SPY / UUP

* * *

China declares shift to "prudent" monetary policy


By Zhou Xin and Simon Rabinovitch

On Friday December 3, 2010, 2:21 am EST

* * *

(((Potential game changers ahead for Intel & Friends. I wonder
how they'll deal with mega-disruptive changes in computational

MoNETA: A Mind Made from Memristors

DARPA's new memristor-based approach to AI consists of a chip
that mimics how neurons process information

By Massimiliano Versace, Ben Chandler

December 2010

* * *

The Endless Thanksgiving

Next Up: a "Flat Tax" for the Rich


November 25, 2010

* * *


Global Models of Capitalism

* by Martin Hutchinson
* November 30, 2010

* * *

A Real Jaw Dropper at the Federal Reserve

by Sen. Bernie Sanders

Published on Friday, December 3, 2010 by The Huffington Post

mirrored to:

* * *

(((Global "infowar" declared. TPTB (The Powers That Be) really
have a lot of dirty, nasty secrets. They call it "realpolitik" but
the truth is far simpler for Americans to understand: the people
running this country are murderous, lying, thieving, unindicted
co-conspirators :-) ))) blocked, but mirror sites proliferating:
here's a partial index of indexes

Xeni Jardin at 3:12 PM Friday, Dec 3, 2010

* * *
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No. of Recommendations: 0
(((As always, a "must read".)))

Kicking the Can

Doug Noland

December 03, 2010

* * *

ECRI's WLI Ticks Lower, But WLI Growth Rate Continues Higher

by: Kirk Lindstrom

December 03, 2010

about: SPY

* * *
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No. of Recommendations: 0
(((Just as predicted by Jim Willie, Bernanke is now talking
about QE3, QE4...QEn...quantitative easing for years! Hard
to be short stocks in the face of such profligacy, such
unrelenting money printing. This will create bubbles without
solving the structural problems and will create a future
crash bigger than this that point who will bail out
the Federal Reserve? And will the US dollar retain any value?)))

Bernanke Says Fed May Take More Action to Curb Joblessness

By Joshua Zumbrun -

Mon Dec 06 00:00:01 GMT 2010

* * *

JPMorgan Says Crude Oil Price Will Reach $120 a Barrel
Before End of 2012

By Grant Smith and Raj Rajendran -

Fri Dec 03 14:24:23 GMT 2010

* * *

(((20% of typical evening's traffic is from Netflix?)))

Will Netflix kill the Internet?

Peter Burrows, Bloomberg Businessweek

Bloomberg December 5, 2010 04:00 AM

Sunday, December 5, 2010

* * *

(((No position limits yet? Oy.)))

JP Morgan revealed as mystery trader that bought £1bn-worth
of copper on LME

By Louise Armitstead and Rowena Mason

8:30AM GMT 04 Dec 2010

* * *

Bad Credit Risks U.S. Global Role

by Michele Kelemen

December 5, 2010

* * *

WikiLeaks Cables are Dispatches from a Beleaguered America in
Imperial Retreat

Envoys provide devastating truths, but world can admire
Washington's patient mission to avert nuclear apocalypse

by Neal Ascherson

Published on Sunday, December 5, 2010 by the Sunday Observer/UK

* * *

WikiLeaks will release encrypted 'doomsday file' if site blocked


Last Updated: 5:53 PM, December 5, 2010

* * *
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No. of Recommendations: 0
(((Give this one a careful reading and then deep, serious
contemplation. Provides future scenarios wherein the US
self-destructs...with a little help from its frenemies.

The US government is functionally destructive to America
and to the world. For example, Congress and the Obama gang
have tenatively agreed to extend the Bush tax cuts for
all taxpayers for another couple of years. This will cost
approximately $3.8 trillion dollars, all of which will need
to be borrowed in addition to all of the other borrowing --
much of which is borrowing just to pay interest on the debt.
The new "compromise" comes just two days after Obama's
deficit reduction commission produced a harsh and revolutionary
plan to save $4 trillion dollars -- the plan is considered

In effect, Obama's style of leadership is to negotiate
with the people who screwed up the country so that he can please
everyone; he's a people pleaser. That is how he got where he is:
kissing every a$$. But when Obama took office a big majority of
Americans felt -- correctly -- that the US was headed in the
wrong direction. So instead of making a 180 degree turn, and
punishing many malefactors who ruined the country, Obama
compromised with the Republicans and made a 90 degree turn! We're
heading in the wrong direction still but now the debate is whether
we should make a 90 degree back where we were headed when Obama
took office! In two years Obama is going to be a laughingstock
because he has not made any correct decisions and the country is
still going to be fxxxed.)))

Taking Down America

by Alfred W. McCoy and Tom Engelhardt

December 06, 2010


* * *

China signals year of tightening

Commentary: This time, Beijing means it

Craig Stephen's This Week in China

Dec. 5, 2010, 10:49 p.m. EST

* * *
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No. of Recommendations: 0

Gold Market Update

By Clive Maund

Dec 6 2010 9:48AM

* * *

(((With Barack "Santa" Obama's Help...)))

Ben Bernanke's Money Pump to Create New Bubbles

By: Michael Swanson

Mon, Dec 6, 2010


* * *
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No. of Recommendations: 0
The 100% "Certain" Forecast From the Guy Who's Been
Wrong 100% of the Time

By Graham Summers

Dec 7 2010 11:30AM

* * *

(((I watched Obama's press conference today, in spite of the
fact that I habitually switch channels when he appears on my
TV screen. I decided it might be enjoyable to watch. How
right I was...

Obama was not only defensive, he was whiney!
Unbelievably, he used a "negotiating with hostage takers"
metaphor! But didn't mention the fact that he gave the hostage
takers billions of bucks, a helicopter, and a presidential
pardon. Mostly he attempted to explain how this capitulation
is not really a capitulation.

Obama thinks his talkey-talkey methods are really "fights"
for his beliefs -- but he can't really fight if hostages
are endangered... So now the entire world knows precisely how
to manipulate him...take hostages!

What Obama just showed us is a president who has never established
his Authority. Not over his own party, and not over the GOP.
He was been tested repeatedly and at this point the GOP is
essentially in control of the US. Again. They don't even have
to actually filibuster, just threaten and Obama cravenly caves.

Stocks dropped when Obama appeared on TV to explain why he
gave the hostage takers their loot. A weak president is not
bullish for America. Expect him to be tested severely in
foreign policy because now everyone knows that threats to
Americans will force him to capitulate -- he doesn't want to be
held responsible. Obama has responsibility without Authority. Not
good. But don't expect peace in Afghanistan or full withdrawal
from Iraq! Obama doesn't have the Authority to overrule his
generals, and he is now forced to try to appear manly because
he is so obviously a weak and confused leader.)))

Obama defends tax deal at news conference

From NBC's Athena Jones

Dec 7, 2010

* * *
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No. of Recommendations: 0
(((After EU stabilized then will be US' turn.)))

U.S. fiscal health worse than Europe's: China adviser

BEIJING (Reuters)

Wed Dec 8, 2010 6:40am EST

* * *

(((Fall due to belief in growth? Or because of Fears that US debt
has reached a tipping point?)))

TREASURIES-Prices plunge as tax plan stokes US debt worries

By Chris Reese

Tue Dec 7, 2010 5:21pm EST

* * *

(((read this!)))

Jim Rogers: Fed understates inflation

By Steven C. Johnson and Frank Tang


Tue Dec 7, 2010 5:40pm EST

* * *

Shrinking Euro Union Seen by Creditors Who Cried for Argentina

By Ye Xie

Tue Dec 07 18:21:24 GMT 2010

* * *

China’s Bubble and Commodities

Steve Saville


Dec 7, 2010


Chanos vs. China
November 17, 2010 3:00 am


Shadow over Asia
November 24th, 2010

* * *

(((Mobile devices to outnumber PCs soon. And how does mobile
advertising contribute to the data problem? Tiered usage billing
means users will cut back on watching videos/TV on their phones?
Stay tuned!)))

Apple Asked to Pay Up for Network Improvement
as Operators Face Data Flood

By Matthew Campbell and Jonathan Browning -

Wed Dec 08 13:34:01 GMT 2010

* * *

‘All-out cyber war’ erupts over WikiLeaks:
‘Anonymous’ hackers take MasterCard offline

By Stephen C. Webster

Wednesday, December 8th, 2010 -- 10:47 am

* * *


A Multi-Asset Investment Strategy for Individual Investors

by: Henry Ma December 08, 2010

about: AGG / DJP / EEM / EFA / EMB / GLD / HYG / SPY

* * *
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No. of Recommendations: 0
(((And the GS daily chart looks "interesting" (?really?! gag...)
for a quick trade to the upside...

...though the weekly chart is somewhat ambiguously positive...

Vampire squid for lunch anyone?

Turnabout: Goldman Sachs Is Now Bullish on America


Posted 4:20 PM 12/02/10


Goldman Sachs, Bank of America Boost Forecasts for U.S. Stocks
December 02, 2010, 2:02 PM EST
By Elizabeth Stanton and Rita Nazareth


Goldman Forecasts Weaker Dollar Amid Imbalances, Europe Recovery
By Allison Bennett
Wed Dec 08 22:05:46 GMT 2010

* * *
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No. of Recommendations: 0
(((Definitely give this a look!)))

New Housing Crash Trend and Obvious Severe Risks
in 15 Key Charts

by: Michael David White

December 05, 2010

about: FRI / ICF / ITB / IYR / RWR / RWX / VNQ / XHB

* * *

(((Apple to add subscription enhancement to next version of
mobile OS, IOS 4.3. Sounds like a major winner for Apple AND
publishers/content providers.)))

Another Sirius Apple Game Changer

by: Satwaves

December 08, 2010

about: AAPL / SIRI

* * *

(((Fascinating, Captain.)))

10 Wireless Predictions for 2011

by: Louis Rhéaume

December 09, 2010


* * *
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No. of Recommendations: 0
(((Scary. But you know he is right after seeing the new tax cut
proposal. We'll be running a nearly $2 trillion deficit next
year and none of the pols, not even the Tea Baggers have the
cojones to actually cut spending along with taxes.

I don't think we should any longer think in terms of how high the
prices of gold and silver are, but instead about how ridiculously
over-valued the dollar is...and act accordingly, with decisiveness
and conviction. Otherwise we will wake up one day and weep that
we did not convert our Ameribucks into gold, silver and
Swiss Francs.)))

John Williams Talks To BNN About
The "Great Hyperinflationary Collapse"

Submitted by Tyler Durden

on 12/09/2010 15:03 -0500

* * *

Bloomberg Poll Shows More Than Half of Americans
Want Fed Reined In or Abolished

Mike Shedlock

Thursday, December 09, 2010 3:39 PM

* * *

Say What? 30 Ben Bernanke Quotes That Are So Stupid That
You Won’t Know Whether To Laugh Or Cry

* * *
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No. of Recommendations: 0
(((read these. it is claimed that JPM may be short more
silver than exists above ground.)))

JPMorgan-Chase Accused of Silver Price Manipulation

Thu, Dec 9, 2010

By Michael Montgomery—Exclusive to Silver Investing News

* * *

Want JP Morgan to crash? Buy silver

Max Keiser

Thursday 2 December 2010 12.30 GMT

* * *

J.P. Morgan Getting Squeezed In Silver Market? (SLV, JPM)

Scott Rubin, provided by Benzinga

December 5, 2010 04:00 AM

Sunday, December 5, 2010
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No. of Recommendations: 0
(((Key article -- shows graph of total debt: government debt
growing to replace deleveraging in private sector! The US economy
requires credit growth for GDP growth, hence the massive deficits
and Federal Reserve monetization! US Government is fighting against
Kondratieff Winter by growing its debt levels to frightening
heights -- and much of the total Federal obligation is off the
books, hidden in Social Security and Medicare benefits owed but
not funded. What happens to the US economy if/when US government
debt is shunned? When interest rates rise in spite of Fed
monetization? Interest rates are at zero and the Fed is monetizing,
so what ammo is left? And when will the GOP match their rhetoric
with spending cuts (ever?))))

Chart-A-Palooza! It's Z.1 Time!

By: Michael Ashton | Thu, Dec 9, 2010

* * *
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No. of Recommendations: 0
(((Bullish (ack!!!) -- short term, at least...

Note following article about investors fleeing PIMCO's Total Return
bond fund which fell 3% in November. Cause and effect?!?)))

Greenlaw as Top Spending Forecaster Sees U.S. Consumer Pickup

By Shobhana Chandra and Alex Tanzi -

Thu Dec 09 05:00:01 GMT 2010

* * *

Pimco Total Return Among Biggest Losers as Bond Rally Fizzles

By Sree Vidya Bhaktavatsalam and Charles Stein

Fri Dec 10 05:00:01 GMT 2010

* * *

The US Faces The Same Problems As Europe, But Has A Different Solution

By: Daniel Aaronson & Lee Markowitz

Fri, Dec 10, 2010

* * *

(((70% of Americans believe this? After all of the government's lies,
the illegal wars, the torture murders of prisoners, the stolen
trillions of dollars and bank bailouts, after all that they still
think the US government should be keeping the truth about those
things secret from the voters? To me this poll is a crystal ball
saying that the US is not even close to hitting a bottom. David
Michael Green pointed out something similar recently concerning
the GOP victories in November -- how stupid are Americans to buy
the lie...again that the GOP will cut taxes and then balance
the budget?)))

Poll: People behind WikiLeaks should be prosecuted

By Steven Thomma | McClatchy Newspapers

December 10, 2010

* * *

(((This is a great read. As always, Matt Taibbi is funny and
eloquently logical. He specializes in dissection of cretins :-)
Be sure to read through to the end because he analyzes current
deficit reduction analyses in D.C. -- with a sniper's aim for
the kill shot!)))

Matt Bai's Post-Partisanship

By Matt Taibbi

December 5, 2010 11:23 A.M. EST

* * *
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No. of Recommendations: 0
(((Outstanding! Long term charts of dollar vs.
deficits as percentage of GDP -- THE implication
being that QE2 was not optional, the national debt
is beginning to grow and feed on itself...)))

The Timing of QE2 Was No Accident

Posted By Eric De Groot On December 10, 2010 @ 4:56 pm

* * *

The Coming Interest Rate Squeeze

By: James Bacon

Sat, Dec 11, 2010

Excerpt: "...the U.S. could easily see 8% interest rates on
its 10-year bonds by 2020. That would boost budget deficits
by $500 billion yearly ... "

* * *

(((The author points out how our gargantuan "defense" / "security"
spending and health insurance company (ripoffs) are the
primary causes of our national budget deficit. Combine that with
what Taibbi pointed out, that for thirty years Social Security
withholdings have been used to fund tax cuts for corporations and
the rich, and it is clear, and obvious to even the simple, how to
solve the deficit problems: single payer, stop trying to enforce
global hegemony, and fairly tax corporations and the rich (many
of the biggest corporations pay zero in U.S. income taxes...)

Just as an editorial aside -- tangentially related to the article --
is that America is becoming xenophobic, with greatly increased
popular fear and hatred of immigrants, brown minorities, and
social outcasts. This is in great part caused by the government's
hype of terrorism fears in order to secure political advantage
and support for growth in government, as well as being the
result of mass media hype promulgated to increase reader/viewership
and thus, advertising profits. Globalization is only popular now
in D.C. and corporate boardrooms as everyday people have seen
"free trade" deals turn out to be nothing of the sort, costing
jobs and vitally needed tax revenues. Media elites love globalization
too, but Joe Sixpack knows it is total bull$$$$. The end result
is that America has become an unpopular destination for visitors
and less desirable for immigrants. Which is why millions of
foreclosures are sitting empty or getting bulldozed and why vast
regions of America are wastelands. There are millions of brilliant
future American entrepreneurs who will just stay home, or who go
home after finishing college. What we're left with are all of the
disadvantages of globalization and few of the synergies -- except
for corporations, who are getting rich off it! The total effect of
this is hard to measure and discern overall, but obviously if we had
a million new rich immigrant/entrepreneurs the demographic impact
of "Baby Boomer" retirements would be greatly reduced!)))

How Our Trillion-Dollar Empire Is the Cause of Our 'Deficit Problem'

Joshua Holland

December 8, 2010

* * *

(((My gut is saying that gold has probably topped for now
and we need to correct back towards the 200 DMA -- by a lot --
before continuing the bull market. There has to be enough fear
installed to continue higher! Also, we may be seeing the start
of a major shift in asset allocations into equities as
institutional investments are pulled from bonds and "safe"
plays into growth oriented themes. This shift may not last all
that long, but perhaps long enough to terrify recently converted

Gold Price Sinks 1.9%, Inflation Worries Escalate

Dec 10, 2010

* * *

(((My gut instinct is for a repeat of last month, when
stocks topped out on the 11th; lots of capital was deployed
into stocks at the start of the month. At this point
performance-chasing buyers and those who want to defer
profit-taking into 2011 may be offset by those who want to
protect 2010 gains and by holiday slowdowns -- I also
suspect that dip buyers are out there but that they are
likely to want to see an actual dip before leaping into

Is Santa Claus rally almost done?

By Edward Krudy

NEW YORK | Sat Dec 11, 2010 11:11am EST

* * *

(((Down to a mere $30 trillion... I feel ever so much better.)))

Credit-Default Swaps Market Shrinks 50% From ’07 Peak, BIS Says

By John Glover -

Sun Dec 12 20:00:00 GMT 2010

* * *
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No. of Recommendations: 0
(((Two more very Bearish pieces from the Fight Club website :-0 )))


(((Anecdotal evidence: when I get bullish on Merck and Microsoft
that probably means time to take money out of the markets.

Sell, baby, sell!)))

Charting A Ridiculously Extreme Market, In Which The Dumb Money Is The Most Confident It Has Been In 5 Years

Tyler Durden

12/12/2010 11:11 -0500

* * *

Van Hoisington's Latest Observations On The "Growth Recession"

Tyler Durden

12/11/2010 19:26 -0500

* * *
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No. of Recommendations: 0
(((This is positive for stocks Monday morning given
trepidation last week about China raising rates this
weekend. Note: according to article, local currency
loans have risen 60% in the last two years -- Bubbleicious!)))

China Risks `Rush' to Tighten in 2011 After Inflation Accelerates Past 5%

By Bloomberg News

Sun Dec 12 16:00:01 GMT 2010

* * *

(((Nice 10 year chart of HUI/Gold. Asserted that
gold stocks are cheap compared to the price
of gold...which appears due for a
once again we may see that these sort of relative
valuation indicators can work the opposite of the way
we think -- e.g. that gold could fall more than the HUI
rises, thus bringing the long term ratio back to normal.)))

Gold Stocks Still Cheap 2

By Adam Hamilton

Dec 10 2010 2:10PM

SEE ALSO: (GDX looks overbought, due for correction...IMO)

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‘Huge’ stock decline — but not yet

Commentary: Adens say near term looks good,
but ‘mega trend’ looks grim

Peter Brimelow

Dec. 13, 2010, 12:18 a.m. EST

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Think Again On China: It's Really A Debt-Burdened
Builder Of Bridges To Nowhere

Gregory White

Oct. 19, 2010, 11:22 AM

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(((Rejects the individual "mandate". How this affects everything else
is unclear, particularly the pre-existing conditions provisions.

I agree w/the judge on this, it is unconstitutional to require individuals
to purchase these products from private healthcare insurers, especially
given the reprehensible business practices they've used for so long...

Politically, the "mandate" was a major negative for Obama; it is one of
the reasons Obama is hated so fervently in much of the country. Since
he opposed a mandate on the campaign trail while Hillary was for it,
just maybe he should have taken a principled stand when the law was
written and passed. But nooo.... And now he pays the price of seeing
what he calls his "signature legislation" sent to the dumpster. Idiot.)))

Judge rejects key part of Obama healthcare law

By Lisa Lambert and Jeremy Pelofsky

Monday December 13, 2010, 5:24 pm EST

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