Stacy Summary: I encourage everyone to read John Kenneth Galbraith’s The Great Crash of 1929. He chronicles headline after headline of this exact nature from 1929 – 1932. By 1932, the headlines stopped as nobody could any longer muster up any hope. So, I believe based on history, we have another 18 months of these sort of headlines before people, including headline editors, give up hope. The reality is that trillions upon trillions of debt is still there, millions upon millions of Americans and Brits, the consumers par excellence, are unemployed and have debts increasing in burden during this deflationary period. The bottom will come only when hope is not so easy to muster. A financial news anchor claiming “greenshoots” or the Central Banker saying “all is okay” will cause not a blip on any trading screen because NOBODY will be listening. Then, perhaps . . .
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Good morning, MotherEarth.
Stacy
I think we are going to see a “Event” in Sept or possably Oct………30% devaulation. They freeze the markets till they happy that they will not crash.
They then inflate to the Moon.
Mike
9/9/9 ?
The enemy is within.
This is just becoming sad.
thats what happens when you smoke a lot of green shoots…yeah mann!
@mike/liverpool..
can they do that? I too am expecting a major black swan event soon… especially relating to devaluation / new currency…( with a staged event of terrorists messing around with fake currency)
maybe we should enter our gold positions now as we may not be able to do it at that time
Subheadline should read:
“Dow Jones and FTSE rise after chairman of Federal Reserve says US economy is on brink of a new bubble”
Obama to visit China in November – Omaha World-Herald http://url4.eu/Hbxp
The news/justification will come after the event, as has been happening every time the markets rally. What you will get is another pullback that people will assume is a fake as has happened several times already. However this pullback will turn into a waterfall as happened on sep/oct.
Don’t expect a one day event, unless it’s something that can be easily blamed away.
The market will go one way until the sideline money comes in allowing the investment banks to take profit off all the free money they have plunged into the market.
@Stacy
I am even wondering if the stockmarket will collapse this time since it’s so grossly manipulated. If I remember well they pulled the stockmarket down just before the congress Stimulus Bill voting to scare them into voting for the bill.
So with this phony singular Goldman Sachs economy which has nothing to do with the real economy they can throw money in the stockmarket anytime they want and let the high velocity computer do the rest.
In other words; The stockmarket is no indicator at all anymore.
Max / Stacy, now your financial terrorist Goldfein is in panic mode, and you’re not putting it up ! http://cityfile.com/dailyfile/6999 ?
A clear sign of them getting desperate. How many times did they play the card before?
stacy you are so frikkin uber sexy I could just lick your brain!!
Part 1 of Jon Stewart’s complete and unedited interview with McCaughey can be viewed here:
http://www.thedailyshow.com/watch/mon-august-17-2009/exclusive—betsy-mccaughey-extended-interview-pt–1
Part 2 is here:
http://www.thedailyshow.com/watch/mon-august-17-2009/exclusive—betsy-mccaughey-extended-interview-pt–2
One Tip as starters with these Nazis – Never admit to your Doc. that you smoke or any use of these kinds.
@crazy mofo – yikes, sounds a bit Hannibal Lecter . . .
@Crazy,……crreeepy,…you sound like Hannibal lickter
@Stacy,…..OH MY GOD
That was spooky!
@Dedo – great minds think alike . . . at the same exact time
also, just want to note that I think i go better with barolo than chianti
George Ure points out a possible “S” curve in bank failures. I too am waiting for the devaluation meltdown. And none too soon. FedGov.Inc is driven by the power of the $ and will not be reigned in until the $ takes it in the shorts. Jim Willie’s piece is also very illuminating
George Ure http://urbansurvival.com/week.htm points out a possible “S” curve in bank failures. I too am waiting for the devaluation meltdown. And none too soon. FedGov.Inc is driven by the power of the $ and will not be reigned in until the $ takes it in the shorts. Jim Willie’s piece is also very illuminating http://news.goldseek.com/GoldenJackass/1243491300.php
There is a rather brilliant piece of commentary here,
http://www.globalresearch.ca/index.php?context=viewArticle&code=MAR20090819&articleId=14839
detailing the rise of global banking interests, and where we are headed right now. That is to say, events that will happen in OUR lifetimes. It is not pretty.
The Controlled Demolition of the world economy that Max speaks about often is now become accepted fact among the enlightened around the world. It’s become a starting point for any serious discussion by non-neo-liberal economists everywhere.
Just as in 1929, this an obviously staged event, and can only lead to one thing: global war, as Gerald Celente describes,
http://www.youtube.com/watch?v=23fdvk3_NxQ
The solution? Capitalism does not work for the vast majority of human beings. It’s basic tenet is theft by any means possible, and it has nothing to do with means of production models. It’s a Theocracy, no better at production than the Vatican is, and needs a cataclysmic world-wide event to trigger it’s demise.
The model to replace it must come from the ground up, not the top down. It has already begun in Venezuela, and should be emulated globally.
It will occur much faster. Computers will quicken the pace. Lets get it done so we can move on.
BTW, I just cam across this recently after returning from vacation,
http://www.youtube.com/watch?v=jZioFC2VxHY
Classic! That is one of the world’s greatest asskickings of all time, Harald Hau is truly representative of the financial-theocratic degenerates who want this game to go on.
Max, next time spare these fools the torment: just douse them with kerosene and throw a match.
I was talking about this last night with a pal in Singapore. The Powers that Be keep putting out the all-is-well propaganda. And then, as it gets worse, who’s making more money? Who’s getting more security and living in the luxury homes?
Talking about revolution made for some cool Bealtes tunes and makes for some nice Max and Staci rants. But you know as well as I do that NOBODY in the States would ever do that.
Because they’re terrified:
Of losing their jobs
Of losing their homes
Of losing their health coverage
Of being arrested if they did riot in the streets.
Meanwhile the sick racist crap at Obama keeps going on. The MSM LOVES to show it because it gurantees ratings. It never occurs to news management that maybe you’re helping to promote this crap? Nooooo.
For the progressive talk shows: does it ever get boring to keep saying how long is this going to go on? It’s good that there IS a progressive voice. However, doesn’t saying the same message every day for 8 years get a LITTLE boring?
So sad to say. But nothing is going to change. Good thing my passport is up to date.
Damn you Bernanke.
i wish someone would please tell me why the hell my natural gas isn’t going up? (save the jokes)
dammit !
oooooooooooppps…..
WH deficit projection jumps — by $2 trillion. Obama is clueless about economics….and it shows. let’s start impeachment proceedings…NOW !
KUCINICH 2010
Stacey as usual you are exactly right. Here is historical proof!
This is a great page y’all get as kick out of I promise!
As I said before the stimulus is great for road builders and sign makers…roads torn up all over Chicago….doesn’t do much to help our industrial base I am afraid….in the end we’ll have a lot of nice roads, unused paving equipment, and more debt.
As Will Rodgers said “We’ll be the only country that drives an automobile to the poor house!”
Check this out!
http://www.joliet.lib.il.us/Digitization%20Projects/The%201930s/Depression.htm
I concur the only ‘surprise’ being that the moron Bernanke would do his stooge routine on OE week when maxium pain for participants I beleived was significantly lower. He must have caused pandemonium at the insider trading desks at Goldman-Sinks when they betting for a lower burn to help vaporize and the calls they had written back a month ago. I don’t even bother trading on OE racketeering week and was very surprised to see Bernanke masturbating the Markets as he did.
Bernanke was assuring us that this would all be over by the end of 2008, to wit:
April 2, 2008
Bernanke noted that the government’s $168 billion stimulus package plus Fed efforts to slash interest rates in response to worsening credit conditions should put the economy back into growth mode in the second half of the year [that is, 2008].
http://www.usnews.com/articles/business/economy/2008/04/02/bernanke-signals-recession.html
its nice to be able to post somewhere. They actually threw me off Huffington Manure for posting about the comically obvious demolition of WTC 7. That said I think waiting for Market implosion is a sad game. The wave readings I am doing on this thing are showing an advance in the S&Pee to 1150 area off the weekly charts before anticipation of any real selling. And even then, if the selling is sharp it can drop the Market a significant distance at a steep trajectory and still leave plenty of room for a brand new bull leg up the goes considerably higher. No I think real implosion is a way’s off Celente notwithstanding. The function of today’s ubiquitos and deafening propaganda machine of cable and network misinformation is far more persuasive and potent than we who still think and discriminate can imagine. I would include most of the Wall Struck community in the category of domesticated farm animal population right along with the Limbots and other sheeple. They are both manufacturing and buying the myth of recovery at this moment much like a senile person in a rest home sitting down for dinner to a plateful of his own steaming fece.
@Johnny Dangereaux .. Thx . Very interesting !
We are all being misgiuded by those that do not care! The facts will materialize in the next six months. Its impossible to swim against the tide of truth for long!
Bill Maher’s New Rules
If a U.S. Dollar didn’t have cocaine on it….it wouldn’t have any value at all.
http://www.huffingtonpost.com/2009/08/22/bill-maher-new-rule-no-sh_n_266161.html
This is turning into l kind of game, guess dooms day even FOFOA is at it saying the down trend is 81 days from implosion. This could be considered as a long term view lol
http://fofoa.blogspot.com/2009_08_01_archive.html
Icelandic problem
Given that the finance lives in never never land, doesn’t the Icelandic problem bring reality home. Wont this effect the bond markets value? If so how long can the pretence of value continue to evade reality?
What will next week bring? The news presents a new twist almost everyday and a new problem energies every week? Doesn’t it feel like the wheel of life is just speeding up? In a world of control it feels out of control to me, what do you think?
@Rasta: ” natural gas….” In 1984, during the Gov. Clinton days, one day, I hitchhiked long California Redwood Hwy. 101 and an older couple on vacation from Arkansas picked me up and in the rear window of their car were baseball caps with oil well logos; that very day I read that in AR it was revealed that even though their numerous natural gas wells were capped…they had agreed to a contract with Algeria to import natural gas at some extreme price above the going domestic rate…So I asked the “oil” man what he might know about this..he hesitated, but his wife chimed in: “oh honey you know it was that good ol’ boy………” So Rasta….capped all around the world are many crude and natural gas ( see Lindsey Williams ) wells in abundance ( the threat of peak oil is an illusion)…the Chechnya and Russian fields are supplying most of Germany and Baku and Azerbajian are headed west to Turkey and beyond..and the new Unical pipe lines, I suspect, are being built through the Afghan terratory as I type…which ones are you referring to??…the global supply of natural gas so much exceeds that of crude oil that we could see $10.00 a barrel crude in weeks….Except that the Arab/OPEC countries all might have riots much like Yemen….and except for that inconsequential fact, we all know that might mean that the capped $12 trillion in Iraqi oil, the newly discovered Brazilian Atlantic oil field, the Venezuela oil, the Canadian oil, the Russian oil, the new arrangement in developing Mexican oil with China, the Iranian oil, the Indonesian Oil, the yet unexplored Arctic oil, and all that oil hidden away in Alaska might mysteriously and immediately become available… I don’t know why natural gas takes a back seat…I remember in the winter of 1982 Mexico border towns were selling bottled propane @ $0.35 a gallon….when throughout the rest of N. America it was $1.25 per….go figure…maybe that’s why i drive a ’83 diesel Benz on WVO…and do a lot a bicycle riding to…Hope some one else who is in oil/gas analysis answers you inquiry…
Everything that is happening is just incidental to the main agenda,..it keeps everyone busy thinking about nothing.
Busy busy, running around in circles,..
Amazing how the mind can organise a random event into something that makes sense.
It might be advantagious to watch these clips to get a better over all perspective,.1-7
http://www.youtube.com/watch?v=cj0Id3BLFco&feature=related
Why would these guys feeze the market?
This is another world. Its like the music industry used to be. These guys are making a fortune and no-one knows how or why. They just invented it and it works for them. It has no value in reality.
The market has no investors, just traders. Some win some lose. Go long go short. Its all just fluff.
Chartists following other chartists in a merry-go-round of ‘second life’ existence.
Meanwhile we all watch from the sidelines in amazement how these indices influence our lives. Pretty, screeching, bob-haired financial journo trying to make it so we can understand something that she doesn’t even understand.
So, markets go up and they go down. Imagine if they just stayed the same….Frozen.
Brrrrrrrrrrr.
My gawd Stacy, I know where you’re going with this but do you even know what John Dilbert Galbraith represented?
For the sake all Canadians, please promote Neil Jacoby instead. At least he was an Austrian thinker and not a national embarrassment.
http://fora.tv/2009/06/24/Ron_Paul_Bringing_Transparency_to_the_Federal_Reserve
“As everyone in the 19th century knew, the Warp Drive works by focusing a narrow beam of gravitons into a distant point in space, bending that part of space time toward the craft upon which the drive is mounted. As a consequence, the craft is pulled toward the bent space time and the beam focus (being of a fixed length) moves beyond the original focal point, to repeat the process, thus the craft is driven along by repeatedly warping consecutive points in space time, hence the name Warp Drive. The name Warp Drive was of course coined by the ancient Chinese in the 4th Century, who made a rudimentary devise out of paper and bamboo.”
– John Kenneth Galbraith
…cue applause by Keynesian economists and former 1960s Haight Ashbury leftards.
@Dedo
Hate to burst your bubble but, Yuri Bezmenov was, at the time of his “defection”, and continued to be afterward, a KGB agent. The only things he revealed about intelligence activities were Already known and actually PRACTICED by American intelligence agencies.
His influence upon the think-tankers was enormous however: it empowered them to DO Exactly what he was supposedly “vilifying”. By exposing how destabilization is properly conducted, he enlightened the US cognoscenti in the correct methods to destroy nations, and to rape their OWN nation as well.
Is it an accident or coincidence that Vladimir Putin is a Judo master? (Judo: the art of using your opponents physical superiority and aggression against them)
The US may have “won” the Cold War, but the “Cold War” was merely a battle. Battles don’t mean shit. Wars do. The Central Bankers have won this current battle, but the war continues…
It’s all propaganda, all lies, I am absolutely convinced of this now. And 99% of it is aimed at the American public because nobody else is buying it. Watch this:
http://www.youtube.com/watch?v=sRcnR0AFatA
Here, Peter Schiff is having a “debate” with Michael Mussa on CNBC. Take the video to 6:40 and watch to the end.
Mussa lies, blatantly. He says that part of the mix that ended the ’81-’82 recession was “…the easing of monetary policy by the Federal Reserve…”
Am I to assume that this man has never heard of Paul Volcker??? I lived through that period, I don’t need this fool to tell me that Paul Volcker never existed. Volcker did exactly the OPPOSITE, he TIGHTENED monetary policy, he raised interest rates through the ROOF and contracted the currency supply. Which is exactly what was called for then, and now.
He’s just pumping out the message that Wall Street wants us to hear, that it’s okay, blah blah blah. What these people are going to learn is that the machine does not run on BS, the BS does NOT support the infrastructure, it is the opposite. Without the infrastructure, the real physical economy, you can’t even HAVE the BS. It disappears along with everything else.
I am increasingly of the opinion that these people are just plain stupid. If anything like a free market still existed, they would have been destroyed already by their bad decisions. Max is right, this is crony capitalism at its best, with clumsily applied media psyops to boot. AAAAHHHHH!!!!!!
When you actually look at what Bernanke’s said, there’s not a huge amount of optimism – it’s more like grasping at straws, rather than green shoots.
Mostly it’s hyperbole on the part of journalists.
As you say, Stacy, how long can editors wring a headline out of wishful thinking?
I lift my glass of fluoridated milk n celebration. The world is well again.
at the 5:00 mark of this video one of the MSNBC Fast Money propagandists responding to Peter Schiff basically says their job is to trade in BS and churn their clients accounts, not talk the truth and protect their clients!
http://www.youtube.com/watch?v=TAwz5-fCBXQ
Who? Who? I want to know who is making the market soar when Bernanke is “upbeat”? How is this even possible anymore? I mean, its late August 2009.
Or is it?
This isn’t happening. I am asleep and I have gas and this is just a nightmare from that old piece of pizza in the back of the fridge. It’s really October 3rd, 2008 and I am just not awake yet.
Only explanation.
@Jay Randall
That’s why Raygun got whacked, he went off the Tri-lateralist agenda and his remaining two terms were effectively a Bush The Elder presidency that all but eliminated banking laws.
Before him, Nixon blew up Bretton-Woods, which delayed the CFR-Chatham House-Bilderburg crowd’s plans for the EU and Euro, by 20 years. Europe, especially Germany, and Japan were royally miffed.
Thus you had Watergate. They would have gunned Nixon down as well but the executive assassination of ’63, the hits on MLK and RFK were both too fresh in the minds of the populace and another killing at that point would have been disastrous.
When it became apparent to the cognoscenti that Nixon had to go, as if by “magic”, you had the Tri-Lateral Commission form – i.e. US-EU-Japan – by Kissinger, Brezinski, and Rockefeller.
After the attempt on Raygun – by a “family friend” of Bush – the agenda was back on track: the Euro came into being in ’99 and the EU political “union” is now a foregone conclusion.
Not many heads of state now drift from their appointed rounds. 50 years of CIA-sponsored “terrorist bombings” and assassinations in Europe brought home the CFR-Chatham House-Tri-Lateralist-Bilderburg message: “play by our rules or you get got.”
But, as the web of intrigue expands, it weakens. Post WWII, Russia and China were not included – they assumed these two states would implode and succumb. They were wrong.
That is their dilemma today – along with other unforeseeable events: the rise of Iran as an arbiter of ME geopolitics, and Hugo Chavez as the de facto of anti-imperialist South America.
You can see where this is headed, I think.