Stacy Summary: If we are at the tipping point as described in the first headline story, then look for statistics (as per Mish’s second headline story) to enter deeper and deeper into the Twilight Zone . ..
HSBC forecast emerging nations will dominate world economic activity in the years ahead.
A key reason is the debt burden of the developed world. Recent policy may have stabilized financial markets in the West, says HSBC, but individuals and governments remain awash in debt. Banks no longer enjoy the funding conditions of old, and this will combine to be a drag on growth.
With home prices crashing year-over-year and both housing rents and apartment rents droping as well one might think that falling rents would be reflected in the CPI. (Stacy – you’d be wrong)
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http://www.google.com/hostednews/ap/article/ALeqM5ha7KkhhLmC5EIgnnFjU2weAnK04AD9B502IG0
Killer Black Bear Pet
This women was cleaning the cage threw food in corner to distract bear apparently the bear got wise to this game realized he was locked up and eat her
I asked my employer for a bonus. He said no.
Maybe apartment rents are declining because all the foreclosed people are moving into tents.
How do they factor in the One Dollar “fixer-uppers” in Detroit? Theoretically rent there would be about .0033 CENTS.
How hypocrytical does it get? The whole US Government is bought and payed for by Wallstreet and the Military Industrial Complex. The US is one big corrupted conglomerate including the MSM but……
FTC: Bloggers must disclose payments for reviews
PHILADELPHIA -
The Federal Trade Commission will require bloggers to clearly disclose any freebies or payments they get from companies for reviewing their products.
It is the first time since 1980 that the commission has revised its guidelines on endorsements and testimonials, and the first time the rules have covered bloggers.
But the commission stopped short Monday of specifying how bloggers must disclose any conflicts of interest.
The FTC said its commissioners voted 4-0 to approve the final guidelines, which had been expected. Penalties include up to $11,000 in fines per violation.
The rules take effect Dec. 1.
http://tech.yahoo.com/news/ap/20091005/ap_on_hi_te/us_tec_bloggers_ftc
@Stacy … decisions decisions
….deciding what is Jibber Jabber and what is not !!
The 1931 Currency Crisis in the context of today’s crisis
…Understanding the history of constrains and governmental actions as a reaction to currency crisis might help us to understand better what will be the most probable response to the current currency crisis…
http://www.youtube.com/watch?v=JKJTa0ZKIno&feature=sub
PS:
Was this JJ or not ?
@Youri, “FTC: Bloggers must disclose payments for reviews ”
I suppose anti-trust and regulating corporations no longer falls under purview?
@Phil: lose the doubt…this JJ segment is advancing the culture….also the webbot work done by Clif High….after all if I find your entries informative…well..enuf said..HA!!
@Youri ..wasn’t that JJ ?
I’m confused .. anyway !
So Bloggers have to disclose donations, fees, revenues or what ?
Where is the “letter of the law” they’re talking about.
Does the MSM have a page where I can see their donations, fees, revenues ?
I doubt it ! ..may be wrong though !
Max /Stacy
The End of the World…………WHEN?
Mike
@Mike .. now that was>/b> JJ !
I’m sure of it !
Can you Email sharon BTW … is she OK ?
This guy may be the original crash predictor. I can’t tell when this vid is from but it looks like maybe the early 90s:
http://www.youtube.com/watch?v=UjbPZAMked0&feature=PlayList&p=389B0FE0B69DAA29&index=32&playnext=7&playnext_from=PL
He asks a simple question. How can taking on more debt make the country richer?
@mike
This bear could be the dumbed down American public who’s thrown some food at and propaganda to keep them bussy.
At one point the public could turn it’s head and attack the American gov.
Than the public get’s shot by foreign criminal troops.
SNAKE
Same story with a guy who had a boa constrictor in a cage. The snake became bigger and bigger and one day strangled around the dude and killed him.
People are so stupid to project their feelings on some animals so they get killed.
@marietta .. Yeah … amazing Video.
The guy screams at him to get out at the end …. saw it already – but good to repeat it .
@Phil
Donnow what JJ is? Thought it was rather important.
@Max
Well he mentions Jim on your show this week?!!
http://fofoa.blogspot.com/2009_10_01_archive.html
@Youri .. JJ = Jibber Jabber !
Yes, it is important.
More big brother laws and less freedom of speech seems to be the message. 50%+ of Democrats in Congress are lawyers, so I bet it was their idea !
Stacy,
You may or may not be interested, but since you posted earlier today about Goldman being involved in illegal trading practices, I thought I’d mention that on reddit today someone’s put up a wikileaks link to a document which apparently details how J P Morgan advises their clients to do insider trading properly
http://wikileaks.org/wiki/JP_Morgan_Private_Bank_insider_trading_how-to
@marietta
Ahaahaa! The MSM always puts feathers up these cronies ass so he’s not used to getting real questions. This Congressman Pete Stark is a big Joke in the state which probably will go belly up first.
Peter Thiel and the Singularity http://tinyurl.com/yechdh6
It seems that Hollywood has lined up in support of Roman Polanski, who was arrested in Switzerland over the weekend, 31 years after he fled the United States following a guilty plea to having had sex with a 13-year old girl. Martin Scorsese, David Lynch, Wes Anderson, Woody Allen, Michael Mann, Tilda Swinton, Harvey Weinstein and more than 100 others have signed a letter asking that he be released. http://tinyurl.com/y8j7tgw
CBS Removes David Letterman’s Mea Culpa From YouTube http://tinyurl.com/yaa9882
I couldn’t find a link to send a comment so I’m going to send my comment to Stacy and Max here.
I’ve been following you guys for over a year now and agree with most of what you say. But I’m confused about your inflation vs deflation debate. It almost seems that you guys are short inflation and long deflation. In other words you have a deflation agenda for what ever reason I don’t know.
Consider the following:
The Dow Jones Industrial Average stood at 929 in June of 1972 – and was 812 by June of 1982, ten years later. Now, as you may recall, this ten period was also the greatest bout of inflation that the US experienced in the 20th Century. The dollar fell in value by 57% in the space of ten years. When we take our ending DJIA number of 812, and adjust for a dollar only being worth 43 cents – the real value of the index was only 350. In purchasing power terms, what our investments will buy for us, the Dow had fallen by almost two thirds.
In my humble opinion the above is just one example of inflation and deflation occurring simultaneously.
What do you guys think? Does that make sense?
Stacy,
As well as my above post, which teeters and veers dangerously into JJ territory, I’d like to offer my thoughts on your first article here about the tipping point:
I live in China, only 10 minutes walk from the Hong Kong border crossing (I can see Hong Kong from where I type these words), and I can make a few observations:
1. HSBC itself – the quality of service you get as a customer in Hong Kong with HSBC is light years ahead of what you get in Britain. Banking in China itself (rather than HK) gets better every year but service still isn’t that great and there is nothing geared up for foreigners, also deposit rates have been atrocious all along (unlike the West, where they’ve only now become atrocious).
2. Although I expected severe repercussions for Guangdong this year (after all, 60,000 small factories went bust or something similarly ridiculous), it hasn’t really materialised. I saw a *slight* increase in begging in Shenzhen in 2008, but if anything that’s gone away.
The reports you hear of trouble like riots, violence in factories, it’s all true, but incidents like that just happen in China, it’s part of the fabric of life. What has happened is that Dongguan (small city north of here, big industrial area) has become even more of a dump than it was before, and a rather nasty place.
As for employment and real estate, you’re constantly hearing conflicting stories. I sense upward wage pressure and upward pressure on house prices will continue – the latter especially seems to have occurred despite all the mayhem.
The big engine is the flow of money from the government and state banks to the SOEs – that flow is corrupt and inefficient, but it’s a huge wall of money and it just keeps flowing, at least for now.
3. Chinese people are mad about the stock market. The mania did die down when we crashed in what was it, early 08, but you’ll still see stock screens on peoples’ computers everywhere, including when they should be working.
As for me,I didn’t profit at all from 2008′s mayhem, nor lose much I think, but this year for the first time I made an investment in stocks in Hong Kong, and it paid off well initially. It is *VERY* difficult to continue to believe in the stock market, but I remind myself that everything I do is trying to avoid holding this horrible cheapened money (Yuan or USD, same thing for now). So I have some gold, plenty of Aussie, Kiwi and CAD and I do hold my nose and buy a bit of the equity market.
4. If you want to know what’s going on in China’s economy, I highly recommend the blog of Michael Pettis: mpettis.com or seekingalpha.com.
On the article – I basically completely agree with HSBC’s perspective, although I DO think a STRONG case can be made that China’s mad over-investment will end with a crash of some kind. Just, it’s been predicted so many times…
Now I see I should have tried to copyright the phrase “The Great Tipping Point.” Then I too could be having $1 million parties like Simon Cowell…..
Despite all of his arrogance, the MSM keeps waiting for every stupid statement from Greenspan. First, it’s not his fault. Then he saw it coming (but it’s STILL not his fault). And now, we may have to raise taxes. But I’m sure with him being set for life, this shouldn’t be any big deal.
Some other points:
How long before the MSM starts to label Obama as The One Term President?
Does Peter Schiff have any chance in his race against Chris Dodd? I say no. Why? Because he’s essentially preaching Reagan era de-regulation. Not the most brilliant thing to say right now.
MAX IS WRONG:-
http://news.bbc.co.uk/1/hi/world/8290550.stm
Mike
I emplore you to listen to WEBSER TARPLEY
There’s a lot to listen to, but his latest podcast is from Iceland!
http://www.gcnlive.com/archive.php?program=worldCrisis
He called out obama way before anyone else, and much more to boot. He believes in solutions and is a fan of the new deal and critical of the monetarists
INSANITY!
And, unfortunately, that’s precisely the situation we’re in today: Three recently released government reports now point to fiscal doomsday for America; and one of the reports, issued by the Congressional Budget Office (CBO), says so explicitly:
* The CBO paints two future scenarios for the U.S. budget deficit and the national debt. But it plainly declares that fiscal disaster will strike in EITHER scenario. Furthermore …
* The CBO states that its fiscal disaster scenarios could cause severe economic declines for decades to come, including hyperinflation and destruction of retirement savings.
* The CBO then proceeds to admit that even its worse-case scenario could be understated by a wide margin due to panic in the financial markets or vicious cycles that are beyond control.
* Separately, in its Flow of Funds Report for the second quarter, the Federal Reserve provides irrefutable data that we are already beginning to witness the first of these consequences in the United States: an unprecedented cut-off of credit to businesses and consumers.
* Meanwhile, the Treasury Department shows that America’s fate remains, as before, in the hands of foreigners, with the U.S. still owing them $7.9 trillion!
* And despite all this, neither Congress nor the Obama Administration have proposed a plan or a timetable for averting these doomsday scenarios. Their sole solution is to issue more bonds, borrow more, and print more without re
“Large budget deficits,” write the authors of the CBO report, would …
* “Reduce national saving,” leading to …
* “More borrowing from abroad” and …
* “Less domestic investment,” which in turn would …
* “Depress income growth in the United States,” and …
* “Seriously harm the economy.”
Worse, on page 14, the CBO warns that:
* “Lenders may become concerned about the financial solvency of the government and …
* “Demand higher interest rates to compensate for the increasing riskiness of holding government debt.” Plus …
* “Both foreign and domestic lenders may not provide enough funds for the government to meet its obligations.”
The magnitude of the problem cannot be underestimated. The CBO declares on page 15 that:
* “The systematic widening of budget shortfalls projected under CBO’s long-term scenarios has never been observed in U.S. history” and …
* It will also be larger than the debt accumulations of any other industrialized nation in the post-World War II period, including Belgium and Italy, the two worst cases of all.
But the CBO admits that even these frightening projections may be grossly understated because:
* “The analysis omitted the pressures that a rising ratio of debt to GDP would have on real interest rates and economic growth.”
* “The growth of debt would lead to a vicious cycle in which the government had to issue ever-larger amounts of debt in order to pay ever-higher interest charges.”
* “More government borrowing would drain the nation’s pool of savings, reducing investment” and …
* “Capital would probably flee the United States, further reducing investment.”
Yes, the government is getting its money to finance its exploding deficits (for now). But it’s hogging all the available supplies, while American businesses and average consumers are getting shut out or even shoved out.
Specifically …
* In the first half of last year, the U.S. Treasury raised funds at the annual pace of $411 billion in the first quarter and $310 billion in the second quarter.
* But if you think that was a lot, consider this: THIS year, the Treasury has stepped up its pace of borrowing to annual rates of $1.443 TRILLION in the first quarter and $1.896 TRILLION in the second quarter. That’s 3.5 times and over SIX TIMES MORE than last year’s, respectively.
Meanwhile, the private sector is getting killed …
* Last year, banks provided new credit at the annual pace of $472.4 billion in the first quarter and $86.7 billion in the second. This year, they’re not providing ANY new credit — they’re actually LIQUIDATING loans at the rate of $857.2 billion in the first quarter and $931.3 billion in the second. So if you’re running a business, you may want to think twice before asking your bank for more money. Instead, they may decide to TAKE BACK the money they’ve already loaned you!
* Ditto for mortgages. Last year, mortgages were being created at the annual clip of $522.5 billion and $124 billion in the first and second quarters, respectively. This year, on a net basis, mortgages haven’t been created at all. Quite the contrary, the Fed reports that, on a net basis, they’ve been liquidated at an annual pace of $39.3 billion in the first quarter and $239.5 billion in the second.
* Getting cash out of credit cards and other consumer credit is even tougher. Last year, folks were able to add to their consumer credit at annual rates of $115 billion and $105 billion in the first two quarters. This year, in contrast, they’ve been forced to CUT back on their credit at annual rates of $95.3 billion in the first quarter … and at an even faster pace in the second quarter — $166.8 billion.
Never before in my lifetime have I witnessed a more severe case of crowding out in the credit markets!
And never before has the CBO been so right in its forecasts of fiscal doomsday: One of its dire forecasts was already coming true even before it issued its report.
From: Three Government Reports Point to Fiscal Doomsday http://tinyurl.com/ydn2vzo
Silver is going parabolic!!!
Ah well, have no fear, Fed, BiS, IMF and the other oligarchs are pressing it down again real soon… thinking “not quite yet”…
Are the Spanish banks hiding their losses? Looking at the American data
… The stakes are enormous. The bears (led by Spanish resident Economics Professor Ed Hugh and the financial research house Variant Perception) argue that the Spanish regulators and banks are conspiring to hide Spain’s insolvency – and when Spain turns out like Argentina either the European central bank (that is the old German central bank) will bail out Spain at great cost to the Central Europeans or the European monetary experiment – and possibly the whole European political experiment will be challenged as Spain fails economically and socially. It’s alright to bail out Latvia after its economic disaster. Latvia is small. Spain however is large and important in a European context. Ed Hugh would argue that it is best to deal with the problem now – because delayed it will get much worse.
Do not for a minute think that the stakes here are overstated. Full blown economic collapses (eg Latvia, Iceland, Argentina) usually lead to riots and governments falling.
…
http://brontecapital.blogspot.com/2009/10/are-spanish-banks-hiding-their-losses.html
PS@Are the Spanish banks hiding their losses? Looking at the American data
The report is from 5th. October 2009 .. 1 month old !
Nothing new since then !
Just wondering what influence Blair will (try to ) have on Germany if he becomes EU Pres.
LOL …. I’m sure Angie has read Ghost as well !
@Phil, Are you a time traveller or just mistaken, its october now
@Mogo … Sh*t .. game over !
Damn damn damn !
“Mish: Disposable Personal Income is negative for the first time since the late 1940′s.”
Misc. Thoughts-
-Um, yeah. Hardly anyone has a “real” job. Hence no disposable income.
-Housing prices may be going down, but rents have not yet followed. Those people who have been foreclosed upon need to live somewhere. At least some can afford to rent.
- The CPI numbers are meaningless without including food and energy costs, both of which are going up (food production cost is tied to energy cost, duh!). What does everyone have to buy? Food and energy, of some kind. The gov. took those items out to make the numbers look better. I prefer to use the stats here, they more resemble reality:
http://www.shadowstats.com
The dollar is the indicator for inflation or deflation a weaker dollar means inflation a stronger dollar means deflation. Therefore if the dollar plunges you will have inflation and it can’t be deflation that’s impossible because of its relation to commodities. The only thing that can cause deflation is a stronger dollar. Unless governments try to prop up the dollar then we might have a range bound dollar in that cause we could have deflation. But I don’t think that will last and will make the correction even worst. Propping up markets is not a good idea because the correction will always be worst. The reason a propped up market is worst is because credibility is loss and that is the position our markets are in right now zero credibility.
P.S. Has anyone else noted all the hockey-stick-shaped graphs these days? “By the pricking of my thumbs, something wicked this way comes.”
@ Mike – Top ten countries listed here:
http://www.huffingtonpost.com/2009/10/05/norway-best-place-to-live_n_309698.html
We’re #13, we’re #13!
@norcalkid “Dr. Doom,” Nouriel Roubini, has been attacked by Wall St. cheerleaders for over a year now about his predictions and thoughts re: the risk of a global L-shaped depression. As things stand, it looks like he was right, eh?
Entering the Greatest Depression in History: The Bank for International Settlements (BIS) Warns of Future Crises http://tinyurl.com/ye79zp6
@Mep-
I was thinking more about the information in the “Crash Course” over at Chris Martenson’s site:
http://www.chrismartenson.com
He is really into the concept of exponential growth of any kind, and its effect on life. The Crash Course is well worth the time spent watching it.
But, yes, Roubini has about the same conclusion, if coming from a slightly different perspective. When you have enough people of diverse backgrounds agreeing on a situation, backed up with good statistics and logic, perhaps they may be right.
@Max/Stacy (or anybody else), do you think this will be a GLOBAL depression or “just” a depression in the US, GB and some other countries? There IS a difference between a currency crisis and a depression.
I don’t know, thats why I am asking. I am guessing on a global depression but I want to hear what you think.
@Mongo,……apparently, there is going to be a total breakdown ,..and from the flames, and new system is to be born,…try and ignore all the irrelevant bull you hear from MSM,..
Your guess is as good as anyone else’s as to how long it will all take. There in lies the speculation.
I’ve been taking my info’ from the UN and other NGO’s,..much more reliable.
Always remember,..the media’s main purpose is to lead the minds of the masses,…gradually,..through repetition
A form of “Osmosis” for the psych .
@norcalkid
Isn ‘t deflation v. inflation also have to do with what people are willing to spend their money on? For example, in the US we aren’t paying for the raw ingredients that go into the meals we eat.A lot of the food in grocery stores has had “value added” by prepreparation, precooking and preportioning. I think there is a lot of deflation left before we get to the point were people are buying raw ingredients and preparing everything themselves.
THe same is true for housing. You had a lot of 3 person households living in 5bdrm/3bath McMansions. But they can easily move back home with mom and dad and share the 3bedrm/1bath tract home they grew up in. When you think about it, the amount and quality of food, clothing and shelter needed to survive is MUCH lower than where we are today.
Here’s a couple living underground in Las Vegas:
http://www.thesun.co.uk/sol/homepage/features/2651937/The-people-living-in-drains-below-Las-Vegas.html
How long would it take for all of us to “deflate” to that point?
(i’ve referenced this link before. For you that have seen it, I apologize)
@Dedo, On a personal note, all this is like a “matrix”-experience where I am Neo and I see through it all. Although I can’t fly.. I am just a n00b but nevertheless my mynd has been set free..I guess Max/Stacy is my version of Neo and Morpheus
But it’s funny how the characters and environments from a science fiction movie can be translated to the real world with such accuracy.. scary actually.
@Mongo,……yeah, they’re great ,..but make sure you don’t ever call Max a dumbass or his alter ego will come and getcha!! : )
@Dedo, no risk of that.. Max is on my “heroes I’d like to meet”-list (that goes for Stacy aswell!!)
The frequency of the mantra “we believe in a strong dollar” is inversely proportional to the dollar’s actual value.
You can say “we believe in the tooth fairy”…doesn’t make it so.
Its all part of the plan.
As dedo said, track the UN documents, a great source of info then suddenly the decline in the USA seems a well thought out plan and not just a financial hack job.(though it is a global paln)
Add the bilderberg stuff which tends to tie in nicly with the UN and we see a future vision forming before our very eyes.
remember very soon Agenda 21 goes Action 21. then things will kick up a gear as the UN takes over as world goverment.
@ Stacy, Max
Would you consider bringing Warren Pollock into the deflation v. inflation debate? He would be able to provide another perspective on the probability of each scenario. He’s saying we really can’t predict which it will be and there may actually be a whipsaw scenario with unpredictable movements between the two.
http://www.youtube.com/user/wepollock#play/uploads
His latest vid gives some recommendations for protection in this seesaw type environment.
Heads Up!
Latvia going under!
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/6263039/Banks-brace-for-Latvias-collapse.html
Mike
Kenneth Langone Says U.S. in `Horrible Economic Storm’ (Bloomberg Vid) http://tinyurl.com/yakshfl
CAUTION: Crash/Collapse Dead Ahead Say Faber, Rogers, Dent and Celente http://tinyurl.com/yemq6m5
MATT TAIBBI – Caught On Tape: A Naked Swindle http://taibbi.rssoundingboard.com/
From the predictive linguistics team: http://tinyurl.com/5spyt
Only one man can save us now:-
http://www.larouchepac.com/lpactv?nid=11994
Mike
Webbots are saying 25th major event then a week later the dollar will be dead…
considering they just predicted the Indonesia quake with exact detail its worth a heads up on.
YEAH!
Latvias president used som harsch words against the swedish finance minister. Seems IMF is pushing both sweden in the talks and Latvia as the receiver. This is a carefully masterminded game where only the elite is the winner.
exciting times!
Poor Latvia..
I find it amazing that after all the excesses at the top, its always the guys on the bottom that bear the brunt of discipline and cutbacks to bring the economy back…same cookie cutter bs all over the world.
“The Baltic trio financed property booms in euros (and swiss francs) because rates were lower. It was taken for granted that eventual euro entry had eliminated the exchange risk. This has become a trap. They need to devalue to break the cycle of depression, but cannot do so because of euro mortgages. Instead they hope to claw back lost competitiveness through wage deflation. This takes years, and discipline. ”
and I’m getting a little tired of Ken Langone singing the high praises of Ken Lewis and Hank Paulson…enough already!
Drudge has a headline stating the end of use of dollar for oil trading by pretty important people. Anyone know anything.
Worldbank – IMF – BIS Warnings for Future Crises http://tinyurl.com/ydc7n6z
@Youri Carma
MATT TAIBBI – Caught On Tape: A Naked Swindle
http://taibbi.rssoundingboard.com/
GREAT FIND YOURI .. thankyou !
Now get Karl Denninger down here real quick.
I have been telling about this over 2 years ago , and he refused to believe me !
When naked shorters are at work, you see the stock hit down aggressively during the day, to rise up before the close ( buy to cover ) making the next day’s open look like it could be a rebound.
But the naked shorting continues the next and the next day, always covering their NAKED positions before the close, so as not to be in the books “overnight” for the back office bookkeeping. The momentum created during the day frightens many Long investors out thus adding to the downward pressure, such that when they cover, they can do it without bringing the price up too much. The lower the stock price goes, the cheaper it becomes to short or naked short it . This gives the naked shorters an easy and easier game.
I have also always believed there are bigger motives than just day-trading profit , and I am sure I am right.
The real motive is often to drive a Cos. stock into the ground to weaken the capital position of that company beyond reapir – i.e. bond holders also get worried and raising new capital becomes more expensive…. giving bigger profits to IBs that will then loan money the nearly-destroyed Co. … usual in the form of Convertibles.
i.e. interference in the market via powerful conspiring partners that may have various motives, such as destroying their competition, or increasing IB fees and profits if it’s not the first example.
JMHO FWIW
Good work Taibbi !
U.S. bill exempts firms from derivatives rules http://tinyurl.com/yan98wt
Saudi prince urges U.S. to sell Citigroup stake: report http://tinyurl.com/y9tva7p
Gulf unified currency will be one of top five
…The planned GCC unified currency will be one of the world’s five major currencies, says an economic expert.
And it will be used as a reserve currency by global central banks, according to Nasser Al Saidi, Chief Economist at the Dubai International Financial Centre.
He said international investors and central banks around the world would want to hold assets denominated in the Gulf currency as both a safe haven and a hedge against oil price shocks and inflation.
Al Saidi was speaking at a presentation of a DIFC report proposing the establishment of a Gulf Central Bank and a unified GCC currency.
“This currency would be strong and trusted,” he said. “The GCC has strong fundamentals, especially the similarity between economies in member countries. The reserves of oil and gas in the region today are equal in value to the capitalisation of global capital markets. The unified currency will be attractive to the world economy….
http://www.business24-7.ae/Articles/2008/9/Pages/09162008_b1ae1131f2d54d0cb78c63feb89d4f32.aspx
Did we all miss this one ?
4 tries at posted a link .. what’s going on ?
Still can’t post it !
Try this link : http://tinyurl.com/yeyajcn
Treasury to say 3 more funds to buy toxic assets http://tinyurl.com/y8vzxvn
ouch, has anyone seen today’s independent front page?
@sam .. don’t be shy !
The demise of the dollar
In a graphic illustration of the new world order, Arab states have launched secret moves with China, Russia and France to stop using the US currency for oil trading
Sean O’Grady: China will overtake America, the only question is when
Leading article: The end of the dollar spells the rise of a new order
http://tinyurl.com/2z4kz
Also liked this headline :
The ghost at the Tories’ feast
Andrew Grice Conservatives’ haunted by the fear of Tony Blair becoming EU president.
@sam .. ” have launched secret moves with China, Russia and France to stop using the US currency for oil trading”
That was the content of the link I posted a few minutes ago !
Try this link : http://tinyurl.com/yeyajcn
Ray
Am told the Drudge report has been up for awhile….nothing new…am told?
Mike
Bloomberg : Bashing Goldman Sachs Is Simply a Game for Fools: Michael Lewis
http://www.bloomberg.com/apps/news?pid=20601039&sid=a2X3hNaWcbeg#
“Only one man can save us now:”
Yup: Hugo Chavez
as I stated in the another thread:
BTW, the real reason the US lost the Olympics: MOST of the world’s athletes come from “national security threat” countries that would Never make it past Fatherland Security, or worse, get Gitmo’ed.
Fed’s Dudley says rates to stay low for a long time http://tinyurl.com/ya5vbyl
Even during the depths of the crisis, when extreme measures got taken every day, Goldman’s “Government Sachs” reputation was bad enough to singlehandedly derail the proposed merger with Wachovia. Since then — and especially since MATT TAIBBI’s (LOL) screed appeared — Goldman’s reputation has only deteriorated further.
From: Goldman’s image problem http://tinyurl.com/ybb8566
PPIP, irrelevant before its time http://tinyurl.com/ybk7nvj
Stiglitz Says Markets ‘Irrationally Exuberant’ http://tinyurl.com/ye3rv8s
The Independent — The demise of the dollar
‘In a graphic illustration of the new world order, Arab states have launched secret moves with China, Russia and France to stop using the US currency for oil trading’
http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html
Pre-Cognitative Michelangelo Antonioni predicting the collapse of capitalism in 1970,
http://www.youtube.com/watch?v=9rxpfO90mg8
THE IRISH REFERENDUM OUTCOME IS NULL AND VOID http://tinyurl.com/yapkxox
Max, Stacy, Everyone!
Please join my No McDonald’s in The Louvre Face Book group, and show your solidarity in helping to encourage a Boycott. Important members of my local art community will be more likely to join and promote the group, on and offline, if it has more members.
http://www.facebook.com/group.php?gid=149114051093&ref=nf
@Youri
I knew the “vote” was dogshit.
Until we start taking things into our own hands like this guy,
http://gonephut.files.wordpress.com/2009/02/shichinin-no-samurai-3-1024.jpg
we are nothing more than sheep.
I think you are geniuses, better than the swedish academy of science.
China’s SARFT — similar to TDF in France — has just been contracted to install a Chinese functional duplicate of the ALLISS transmission system in Cuba at a to be determined location.
FAQ:
http://en.wikipedia.org/wiki/ALLISS
BBG-VOA has order a simpler model here in 2009:
http://maps.google.de/maps?f=q&source=s_q&hl=de&geocode=&q=kuwait&sll=51.151786,10.415039&sspn=20.453081,56.733398&ie=UTF8&ll=29.153047,47.762251&spn=0.003467,0.006925&t=h&z=18
I am glad the Chinese have duplicated the ALLISS technology — remember that Thales-Grass Valley has never hired me so I owe them nothing (although I will recommend on commission the ALLISS technology where applicable).
This may seem like minor news in the shortwave broadcasting front — but imples that China can now fully meet the entire Western sphere (Europe / North America / Japan) of technology on an at par basis.
RBA lifts rates
http://www.smh.com.au/business/rba-lifts-rates-20091006-gkv5.html
Statement by Glenn Stevens
http://www.rba.gov.au/MediaReleases/2009/mr-09-23.html
… worst is over, or contrary indicator?
RBA sounds the all-clear
MICHAEL PASCOE
October 6, 2009 – 3:06PM
“Not only is Australia’s economic emergency over, we’re very nearly back to normal, according the Reserve Bank Governor Glenn Stevens.”
http://www.smh.com.au/business/rba-sounds-the-allclear-20091006-gkwp.html
Robert Fisk (possibly the Western world’s most respected commentator and journalist on the middle east conflicts) has just brought out a bit of a shocker on the dollar:
http://license.icopyright.net/user/viewFreeUse.act?fuid=NTE5NzM3Ng%3D%3D
Yes I know we’ve heard it all before but consider:
1. Fisk has been working in the region for decades, speaks fluent Arabic and has years and years of deep contacts. Anybody who follows his work knows that, although he can be somewhat shrill, he gets to the heart of the matter.
2. He is not remotely interested in financial matters usually, so the fact that he’s chosen to make this report is highly telling.
3. He quotes sources, both Hong Kong and Gulf Arab.
“The death of the dollar”.
http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html
If you want to see the ALLISS shortwave broadcasting technology that China has duplicated see the following
– http://www.youtube.com/watch?v=W_1iOqxcx5M
– http://blip.tv/file/2685735
Note that China did not acquire the highest directivity models domestically, so there is some question as to if they can duplicate the HR 6/4/1 antenna type in their own designs.
I believe that China has enough adequate HUMINT to duplicate the HR 6/4/1 design.
Nations that master shortwave broadcasting transmission can ultimately survive better economic crises. Note that the former USSR had about 20% more overall transmission capacity and directivity than the entire Western world.
Never underestimate Chinese or Russian scientific or industrial prowess — they possess different views and how technology and science can and should be used, and have probably surpassed the West vs being behind it.
They really are trying to get out of the dollar.
http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html
@ Adam Gibson
That would be a black swan!
Still, I can’t help but feel that this is merely the latest in a series of dollar negative headlines that have been growing louder by the week. Regardless, it seems with the recent crescendo in the inflation / deflation debate, that we are approaching another important inflection point … of some sort.
I would not discount the presence of a working infrastructure, intelligent litterate reasonably healthy people and having the most fertile farmland in the world (with excellent climate prospects) in favour of Europe. Those declinist are simply projecting US selfimmolationist sentiments..Banks have not screwed everything up here yet, and even the immigrant population, which according to some illuminat freaks was meant to deminish the general level of organization in northern europe, shows clearly disprove the racist attitude underlying that assumed strategy.To all the declinist I Go F*ck Youself !
The demise of dollar
http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html
WOW!
“The demise of the dollar…
Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars.”
http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html
This is actually catching up on the MSM in Sweden at least… impressive, the morons at the newsrooms are actually reading this! They got raise?
The banking syndicate needs to get out of the dollar before they lose contro of it and the game…they need to make the transition to the international central bank before they get completely exposed.