Stacy Summary: GDP up 3.5%.
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ref. max keiser – Get 6 mo’s free storage
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Rick Ackerman-
- Karl Denninger – Market Ticker
- The Big Picture
- Mish
- David Morgan
- King World News
- SmartKnowledge
- GoldCore
fiat money and the french revolution
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crash banksters – Buy Silver & gold
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@y’all
Everything is on the ONE!!!
SECOND ROFL yeah Stacey just saw it on CNN my god they got main stream media really coordinated my my
I can only think the fact Saudi’s are jumping the Nmex 7 going to London?
Mike
GDP up in Lalaland…
But pretending is the only option the US corporations have at this point. The US taxpayer is to be depleted like any other resource corporations get their hands on..
Love that Doublespeak. The recession’s over “in a technical sense” despite huge job losses.
Like saying the traffic accident is over “in a technical sense” despite the driver being dead and the passenger passing through the windshield & flying 30 feet.
http://news.yahoo.com/s/ap/20091029/ap_on_bi_go_ec_fi/us_economy
Whew!! I can come out of the woods now…
@GDP growth 3.5% …
LOL .. did they just change the definition again ?
PS@GDP growth 3.5% …
OTOH, it must be true … the US$ is tanking again while stocks climb !
@all
Help a novice. Is there as shred of truth in any of this?
Army: 3 vials of virus samples missing from Maryland facility
…, spokesman for the command, said this latest investigation has found “no evidence of criminal activity.”
http://edition.cnn.com/2009/US/04/22/missing.virus.sample/
“no evidence of criminal activity.”
OK, the it must have been the Govt. right ?
@TJ … Help a novice. Is there as shred of truth in any of this?
Great opening line !
… in any of “what” ?
Funny gold begaves exactly as predicted. It was to be suppressed to avoid people taking delivery and to aid the sale of treasuries. It was predicted to jump back today..
Marc Faber Dollar will become wall paper Oct 23, 2009
http://www.youtube.com/watch?v=VcXTnMxn1Bo
Bernanke “He issa munay PRinterr”
Matthew Hoh, State Department official, resigns in protest over Afghanistan war policy. Former Marine captain. State Department shill Ian Kelly downplays resignation.
http://www.google.com/hostednews/ap/article/ALeqM5j7-8TSw7G_wwHY-5sX8TTBjbJhrQD9BJLOH02
Obama names “Mr. ES&S” of voting machine fraud infamy the co-chair of the President’s Intelligence Advisory Board.
http://thecable.foreignpolicy.com/posts/2009/10/28/hagel_to_lead_obamas_intelligence_overisght_panel
@WL…Marc Faber Dollar will become wall paper Oct 23, 2009
So he papered his walls on the 23rd ?
I’d have waited a few months .. still too expensive, even for wallpaper !
@Phil … this?
I don’t know what the hell I’m asking. Maybe I want to know if this is the final invitation to the Sucker’s Rally?
So, why did Goldman lower their estimate to 2.7% just a day before the GDP comes out?
Hmmm!!!
@scott
post the link to your blog again, please… I have some photo’s I would like to post!!!
This notion of being “out of the woods” is tremendously foolish and could have catastrophic consequences.
Consumer credit is falling with rising unemployment. Over- producing will cause a depression. We have to either raise incomes, or write off the bad debts. Right now we’re trying to dig ourselves out of a hole. Productivity is rising with incomes falling… anyone can figure out that the result will be excess capacity and falling demand. This results in unemployment resulting in a feedback loop.
By trying to bullshit our way out of this without fixing a single core issue, we will reinforce the cycle that started the collapse. This will lead to more overcapacity that will lower prices causing more dirty banks to explode. This is exactly what happened in the Great Depression.
@TJ … Maybe I want to know if this is the final invitation to the Sucker’s Rally ?
“The market is always right” … is a big myth !
… it should be “right”, but not when the Govt. is gaming it like a rigged casino.
Everyone is expecting a big pull back , so we may even see 14K soon ! .. but with the US$ Index at 60 maybe !
If they they (PTB) allow the market to adjust to reality, the DJIA should be at ca. 4K today.
It seems obvious that they do not want that, so I guess they’ll keep on inflating stocks , prevent the bond market from crashing completely, and continue devaluing the US$ on a slow burn…. unless … outside influences start a panic .
In other words, it’s anyone’s guess …
Nobody knows except Bernanke, Geithner and the WS crooks I suppose.
http://aeleope.blogspot.com/
Supergeek, I am your
humble servent …
Dr. Marc Faber concluded his June 2008 newsletter with the following:
The federal government is sending each of us a $600 rebate. If we spend that money at Wal-Mart, the money goes to China. If we spend it on gasoline it goes to the Arabs. If we buy a computer/Software it will go to India. If we purchase fruit and vegetables it will go to Mexico, Honduras and Guatemala. If we purchase a good car it will go to Germany. If we purchase useless crap it will go to Taiwan and none of it will help the American economy. The only way to keep that money here at home is to spend it on prostitutes and beer, since these are the only products still produced in US. I’ve been doing my part.
oil and gold movin like a Snoot into a bottle of hootch
@ WL
Dr. Marc Faber concluded his June 2008 newsletter with the following:
ROFL PMSL Nice one but i cant get over Max Keisers “Financial Anti-Matter”
All the reason why i think USA wants another War I heard around 4 months back on Squak Box one of the reporters saying US seems to be gearing up for War.
Heads up People one more False Flag operation
@Mohammed
So, why did Goldman lower their estimate to 2.7% just a day before the GDP comes out?
Here:
http://www.youtube.com/watch?v=oMMTloO1H-U
@TJ and @ Phil: “last chance for a suckers rally” Well it’s probably not the last chance…but a word to the wise…TJ: if you see the dead cat bounce now will there be a dead cat bounce tomorrow?? Similarly if you are asking Phil…well IMO…Phil sees the system has been hijacked….that we are witnessing the greatest heist ever…that trying to find day trades is a waist of time..but let him speak for himself…I believe all that I have just listed…on the other hand, Max might like to be in on a IPO for google, Amazon,twitter, FB, and the like if he was invited early in the underwriting…Max did work WS..and knows the quick deal and the quick profit…The guy that sold out Bear Stearns with a short sale just before the bankruptcy that made 3 or 4000% profit is a WS traders wet dream ( again IMO )…I see the vision of a world elsewhere…and hang in with metals and commodities
@scott
cheers!!!
Fucking GDP numbers are a joke: every time someone at Goldman Sachs has bowel movement the “jobless recovery” soars!
Great quote from Faber, WL!
Let’s just say I’ve been doing my part as well in Kanada…
@y’all
“if they take my stapler then I’ll set the building on fire.” Milton – office space
US economy exits recession LOL
http://www.irishtimes.com/newspaper/breaking/2009/1029/breaking43.htm
via Glenn Greenwald; an op-ed by a former Soviet soldier who fought in Afghanistan: http://www.vigile.net/We-re-still-dying-in-Afghanistan
Denninger disagreed completely with the 3,5%.
Spin is everywhere as financial media parrots the good news.
Growth is back hard and that helps stocks up. It should.
Here is Karl Denninger on those GDP numbers:
http://market-ticker.org/archives/1550-GDP-Is…..-Better-Than-Expected.html
OT
Here’s a YouTube playlist for Fred Harrison from The Renegade Economist
http://www.youtube.com/watch?v=qHqrBb-nRbs&feature=PlayList&p=A0B6837CF05760E8&index=0&playnext=1
Very insightful on the bubble in land values being the main cause of the UK/US crash. He advocates a land tax as opposed to taxes on production and consumption.
A possible OTE guest? More info:
Wikipedia
“He is acknowledged as having predicted the 2008 subprime mortgage crisis, laying it out in his books as early as 1997.”
“Harrison’s macro-economic analysis is based on the theory that business conforms to a pattern of 18-year cycles, determined by the unique characteristics of the land market. According to Harrison, economists erroneously assume that the health of the property market depends upon the condition of the rest of the economy. In fact … property is the key factor that shapes the business cycle, not the other way around.”
http://en.wikipedia.org/wiki/Fred_Harrison_%28author%29
YouTube Channel
Includes some Michael Hudson interviews
http://www.youtube.com/user/RenegadeEconomist
Worrying about GDP is a total and complete waste of time at this point. The G20 is moving away from GDP and national sovereignty in a bid for balance of trade surplus and deficits. That is the point to ending the dollar as reserve currency: the dollar reserve enacts a command import-based economy with deficits…baked in the cake.
Agree.. we are definitely in lala-land.
When Citi, CIT and/or WFC comes tumbling down real soon everybody will ask.. HOW DID THIS HAPPEN.. as usual!
“Chocolate rations were increased last month from thirty grams to twenty grams.”
US needs to show GDP Growth/Recovery for a reason to raise Interest Rates sooner rather than later.
@Photoception
“We have to either raise incomes, or write off the bad debts. Right now we’re trying to dig ourselves out of a hole.
By trying to bullshit our way out of this without fixing a single core issue, we will reinforce the cycle that started the collapse.”
Yes and that hole is actually quick sand.
These guys really believe that they are smarter than the people in charge in the 1930′s or the Japanese. IT is amazing.
US needs to show GDP Growth/Recovery for a reason to raise Interest Rates sooner rather than later.
They can’t. If they raise bonds to say Brazil levels the US will be looking at $1.5 trillion in interest payments alone that would increase the fed budget deficit from $1.5T to $3T – if it’s not there already.
The house of cards is ready to collapse at any minute.
My guess is they will bullshit their way through Christmas with some more faerie tale retail numbers and crash the system in Jan or Feb.
We could see gold at $5,000 by Valentines day.
Speaking of which: anyone come across any new bullion retailers who aren’t on Quaaludes markup wise? Specifically in Kanada.
Housing is getting ready for encore:
Here It Comes… (Option ARMs)
http://market-ticker.denninger.net/archives/1553-Here-It-Comes…-Option-ARMs.html
A Headline from theStreet.com
“Gold Rises as Risk Appetite Returns”
How media with headlines like that maintains readership is beyond me.
Illya:
What will a dozen eggs cost in dollars in January/February?
What will a dozen eggs cost in dollars in January/February?
In Israel: one Palestinian kidney
In Kosovo: two Romanian sex slaves
In USA: a .457 Magnum
Sorry, you said “dollars”: the dollar will be Zero…does not compute…error…error
This is bs, this whole fake economy is bs. This is the main reason im moving to france next year.
Famous last words:
“”It’s good to have the economy growing again,” said Brian Bethune, economist at IHS Global Insight.”
It’s not “how much” a dozen eggs will cost, it’s what would you do to get a dozen eggs?
By all accounts Gordon Brown was all geared up with press releases and all the Labour friendly media hacks were primed ready for positive UK GDP numbers. When they didnt come through he went into one of his now famous bunker rages. Probably trashed another mobile phone. The world appears to have gone utterly mad.
It’s not “how much” a dozen eggs will cost, it’s what would you do to get a dozen eggs?
Actually, it is relevant if the price of eggs is a function of an hyperinflating dollar. Then the value of the eggs AND the gold will be called into question, realizing a preference for food over the shiny metal. How long can gold retain its luster in a survival world where the very meaning of currency has been destroyed?
And, unfortunately as the Euro valuation increase is showing, the world’s currencies are all linked to the dollar. There are many variables at play, not the least the sdr expansion and the different fundamentals of trade with a sdr basket.
Saying goody goody gold will be 6000 dollars an ounce seems to me a rather superficial forecast.
Today is the anniversity of the Great Crash of 1929. My Grandparents were teens in those days. I’m 27 and my generation is about to get a hard lesson on what doing without is like.
This is a great article from Trace Mayer…
http://www.runtogold.com/2009/10/relentless-advance-of-technology/
The first video about Homo Evolutis is good brain food…
and the onion video is good for a laugh…
I’m still digesting the article’s implications…
Maybe you’ll taste it differently…
Without Cash for Clunkers it would have been 1.9%. The US has over 23 trillion in exposure to the crisis! Real unemployment is 17%, oil is 80 bucks soon to be 100 plus, student loans are defaulting at record levels, foreclosures are still surging and 1 out of 8 Americans is on food stamps, but hey JP Morgan and Goldman Sachs are doing well. This is what is important to the financial media.
I was just watching a Dr Phil episode about recession survival techniques as these figures came out. It was pretty extreme tips like withdraw money on your cc then don’t make any payments on cc or mortgage.
http://news.bbc.co.uk/2/hi/uk_news/politics/8333192.stm
Blair may not be EU president after all. Now they can let Polanski go.
I would be interested in peoples views on this rise in the US of the GDP growth in Q3? Is it purely the Cash For Clunckers seeping through and is it sustainable?
I watched an interview with Mish Shedlock who takes a view that the dollar is not going to die, next month, next year or for the near future, possibly in ten years plus. He makes the observation that just abot every currency is taking a knock. Apart from the Aussies and Norwegians.
Stacy and Max, some insight please?
Saying goody goody gold will be 6000 dollars an ounce seems to me a rather superficial forecast.
You’re right. In a way. The only reason I use a dollar reference At All is because that’s the only thing people easily comprehend.
I do not give a damn about the $ or any fiat toilet paper except for the fact that I’m paid in Kanadian dollars that I need to immediately convert to something else to hedge against inflation. To keep the product of my physical and mental labour and not have it inflated away by shysters.
3,000 years ago an ounce of gold bought 350 loaves of bread, today it does the same thing. That’s the only point of reference that interests me. If I actually BEAT inflation then that’s merely a bonus.
The zero sum game balance sheet is tilted toward the richest 10,000 or so people on earth controlling and/or owning two-thirds of the wealth. They’re not getting mine.
The only reason I use a dollar reference At All is because that’s the only thing people easily comprehend.
Illya: you contradict yourself. If the above is true, then the concluding argument should be that dollar pricing is inherently untrustworthy. If ‘most people’ easily comprehend dollar pricing then dollar pricing is most probably a universal and the collapse in the dollar will precipitate a collapse in price “trust” (the result of a hyperinflating currency) by those that comprehend value as a derivative of dollar pricing.
Another words: eeeeeeeeeeeeeeeeeek
3,000 years ago an ounce of gold bought 350 loaves of bread, today it does the same thing. That’s the only point of reference that interests me. If I actually BEAT inflation then that’s merely a bonus.
King Tut Illya:
If you took some time to exit your pyramid you might notice that we have a new system of exchange in play. The gold-backed currency regime ended when Nixon took the US of the gold standard in 1971. Do you believe the controllers of the currency want to return to a gold exchange system?
You, most probably, won’t be able to retain a viable means of exchange outside EU/IMF control: that is The Plan. If you really look at it logically, gold is fiat in that the gold is only a representation of value placed there by a fiat system operating under criminal control.
You have faith that the outcome will favor Illya. Are you royal?
Hmmm…………
We’ll see… by… mid Nov. 2009.
Maybe… even before that….
Boost the economy.
http://www.cnn.com/2009/POLITICS/10/30/obama.hiv.aids/
@frances
My brother: you just do not get it. You are living in a USD-denominated galaxy and that is about as far removed from reality as you can get.
Dollars, Rubles, Yuans, SDRs, etc, do not mean a motherfucking thing.
I would not even wipe my as with any of that toilet paper.: I cannot understand why you can’t divorce yourself from the USD fiat system??? What is your problem?
Why do you even think in terms of X = Y dollars???
The ONLY thing that MATTERS is what an ounce of gold or silver or palladium or platinum or copper or iridium or cobalt etc, will actually put food on your table.
You are talking about esoteric bullshit that means absofuckinglutely nothing to anyone who is interested in living. WTF?
“Why do you even think in terms of X = Y dollars???”
Because the pricing system to which we all adhere is focused on this equation.
Why we think in terms of X = Y dollars?
So we can go on luxurious foreign shopping vacations.