The Coming Global Catastrophe IS Made In Amerika

Very Best CD Rates
Home Page for the Highest CD Rates
CD Survey -  High Yield CD Rates - Best Savings Account Rates

-------- Original Message --------

Subject:	The Coming Global Catastrophe IS Made In Amerika
Date:	Fri, 28 Jan 2011 15:00:57 -0800
From:	Jas Jain

The Coming Global Catastrophe IS Made In Amerika

The Crisis of 2007-08 was just a rehearsal. Don't forget that evildoer Bernanke wants to increase inflation in Amerika and worldwide targeting the poor. He desires to hurt the old people on fixed income, working class folk, savers who don't wish to speculate with their savings, and many more and he specifically wants to inflate the Scam Market. Who is he hurting and who is he helping by these policies? The answer to this question is sufficient to prove that he is an evildoer, an enemy of the American People. What born-and-bred American dopes don't recognize is that Bernanke is a pure case of a born-and-bred evildoer (he never learned any skills to produce!) who got the power to put into practice his evil schemes. I have said so from the day one that this evildoer was chosen! He was specifically chosen to apply his evil schemes of financial manipulation. But, he is not the first. He is simply continuing a tradition of evildoers in power beginning with the election of Ronald Reagan, a pitchman and an agent of the rich and powerful in Amerika. He was also handpicked by the wealthy to use his propaganda skills on born-and-bred American dopes (trained by Hollywood!) like Rush Limbaugh, who is a big beneficiary of Reagan's policies and has hitched his wagon to "Ronaldus Magnus." Reagan was followed by Greenspan, Rubin-Clinton Gang, GW Bush (GHW Bush was not an evildoer), Bernanke and Obama. Only evildoers survive in competition for the top political and corporate power! That is what is supposed to happen in the Era of the Evildoers. The Age of Propaganda preceded it by some 65 years to prepare the grounds by breeding dopes. The setup is complete!

 

What these evildoers have created are conditions that would lead to the Global Financial Holocaust that would claim more than 600M victims, over 10% of the world population, over the next 30-40 years. People who support the evildoers are guilty! Willful ignorance is not an excuse.

Jas

Best Investment Letter

Major World Market Graphs a Glance
Click links to see  => Americas -  Asia/Pacific -  Europe  - Africa/Middle East 

Economic and Political Collapse of India is Imminent

Major World Market Graphs

-------- Original Message --------

Subject:	FWC: Crisis report peppered with memorable quotes – NY Times
Date:	Fri, 28 Jan 2011 08:25:42 -0800
From:	Jas Jain

Crisis report peppered with memorable quotes – NY Times

"Behind closed doors, Ben S. Bernanke, the Federal Reserve chairman, called it "the worst financial crisis in global history, including the Great Depression.""

Didn't some crank warn years ago that the conditions for the Greater Depression in the USA were being fostered? Evil in America took the financial form. Evildoer Bernanke was the architect of the financial crisis of 2007-08. Bernanke was specifically tapped in late 2002 by evildoer Bush, worried about his re-election, to create conditions that would lead to the crisis after he was safely re-elected, evildoer Greenspan was reappointed, and a place was held for evildoer Bernanke to be appointed the Fed Chairmen. No, I am not making these charges after the fact. I made these charges when the crisis was being deliberately created by the three evildoers named. Welcome to the Era of the Evildoers in America launched by evildoer Ronald Reagan. All this, of course, with the benefit of the hindsight. Evildoer Reagan forced Volcker to resign so that his gang can appoint "our guy," who happened to be Greenspan. What these dopes (Reagan and his gang) didn't know was that Greenspan was not "our guy" but the guy of financial manipulators.

 

The immediate consequents of evildoer Bernanke's actions are some of the developing nations, including India. Economic and political collapse of India is imminent, by which I mean within 5 years. It could happen lot sooner than that.

Jas

-x-x-x-x-x-x-x-x-x-x-x-x-x-

Crisis report peppered with memorable quotes - NYTimes

 

SEWELL CHAN, On Friday January 28, 2011, 7:30 am EST

WASHINGTON — Behind closed doors, Ben S. Bernanke, the Federal Reserve chairman, called it "the worst financial crisis in global history, including the Great Depression."
He said that 12 of the country's 13 most important financial institutions, including Goldman Sachs, had been on the verge of collapse "within a week or two." (The apparent exception: JPMorgan Chase.)
Imagining the impact of a Citigroup bankruptcy, he recalled, was "sort of like saying, 'Well, four out of your five heart ventricles are fine, and the fifth one is lousy.' " (The human heart actually has two.)
Mr. Bernanke's remarks, from a November 2009 interview with government investigators, were among the fresh details in the blow-by-blow chronicle of regulatory negligence and Wall Street recklessness released Thursday by a federal commission.
The report by the Financial Crisis Inquiry Commission draws on more than 700 interviews, millions of e-mail exchanges and other records that have not previously been disclosed.
While the official 633-page document comes after the Dodd-Frank law tightened up financial regulation, its findings are certain to be pored over for years — and not just by historians.
On Wall Street, analysts were already scouring 1,200 supporting documents the panel released on its Web site; an additional 700 documents and some 300 transcripts of audio interviews are to be posted before the panel's mandate expires Feb. 13.
The report examined the risky mortgage loans that helped build the housing bubble; the packaging of those loans into exotic securities that were sold to investors; and the heedless placement of giant bets on those investments.
Enabling those developments, the panel found, were a bias toward deregulation by government officials, and mismanagement by financiers who failed to perceive the risks.
The Fed, under Mr. Bernanke's predecessor, Alan Greenspan, failed to develop mortgage lending standards that could have stemmed the flow of bad mortgages into the financial pipeline, the panel found. "The Federal Reserve was clearly the steward of lending standards in this country," said one commissioner, John W. Thompson, a technology executive. "They chose not to act."
Mr. Greenspan declined to comment.
Just as the 10-member commission splintered along partisan lines — with the four Republican members offering two separate dissents — so did the response to the document.
"We certainly applaud the efforts of the commission," the White House press secretary, Robert Gibbs, said, in remarks echoed by Senator Tim Johnson, Democrat of South Dakota, the new chairman of the Senate Banking Committee.
But Representative Spencer T. Bachus, Republican of Alabama and the new chairman of the House Financial Services Committee, said that the panel had "failed to reach even a rough consensus on the causes of the financial crisis" and that the Democratic majority had been "minimizing the role of Fannie Mae and Freddie Mac in causing the crisis."
Those two mortgage finance entities, the main report found, contributed to the 2008 crisis but were not among its chief causes.
It concluded that Fannie and Freddie had loosened underwriting standards, bought and guaranteed riskier loans and increased their purchases of mortgage-backed securities because they were fearful of losing more market share to Wall Street competitors.
The main report said that was not because of the government's affordable-housing goals, which conservatives like Peter J. Wallison, a Republican commissioner, believed were the primary culprit.
The culpability of the housing finance agencies is likely to influence debate in Congress over the future of housing finance. But the bulk of the report consists of a long, well-known narrative that is largely beyond dispute.
The report offered new details about how Citigroup and the American International Group, which received bailouts, were internally divided as the crisis worsened: some parts of each company continued to invest in housing-related investments even as others pulled away.
It offered new evidence that officials at Citigroup and Merrill Lynch had portrayed mortgage-related investments to investors as being safer than they really were. It noted — Goldman's denials to the contrary — that "Goldman has been criticized — and sued — for selling its subprime mortgage securities to clients while simultaneously betting against those securities."
It showed that the Fed and the Treasury Department had been plunged into uncertainty and hesitation after Bear Stearns was sold to JPMorgan Chase in March 2008, which contributed to a series of "inconsistent" bailout-related decisions later that year.
Neither the Fed nor the Treasury commented on the report, nor did most of the financial institutions mentioned in it, though a spokeswoman said Citigroup was "a fundamentally different company today than it was before the crisis."
Sprinkled throughout the report were vivid quotes from major players.
Sabeth Siddique, a top Fed regulator, described how his 2005 warnings about the surge in "irresponsible loans" had prompted an "ideological turf war" within the Fed — and resistance from bankers who had accused him of "denying the American dream" to potential home borrowers.
The Office of Thrift Supervision, a soon-to-be-closed agency that was supposed to regulate A.I.G., was so outmatched that its former director, John M. Reich, compared it to "a gnat on an elephant."
Some bankers came across as simply bumbling. E. Stanley O'Neal, chief executive of Merrill Lynch, told the commission about a "dawning awareness" through September 2007 that mortgage securities had been causing disastrous losses at the firm; weeks later, the report noted, he walked away with a severance package worth $161.5 million.
The Lehman Brothers bankruptcy in September 2008, which sent markets into a tailspin and led to a string of costly bailouts and was probably the most dramatic moment of the crisis, was reviewed in depth in the report.
The prominent Wall Street banking lawyer H. Rodgin Cohen, who represented Lehman among other big banks, said he thought the government, in refusing to bail out Lehman, had seemed that it was "playing a game of chicken," hoping that other institutions would save Lehman.
The commission's chairman, Phil Angelides, said he hoped the report would help bear witness to a preventable catastrophe. "Some on Wall Street and Washington with a stake in the status quo may be tempted to wipe from memory this crisis or to suggest again that no one could have seen or prevented it," he said.
But little on Wall Street has changed. One commissioner, Byron S. Georgiou, a Nevada lawyer, said the financial system was "not really very different" today from before the crisis.
"In fact, the concentration of financial assets in the largest commercial and investment banks is really significantly higher today than it was in the run-up to the crisis, as a result of the evisceration of some of the institutions, and the consolidation and merger of others into larger institutions," he said.

Major World Market Graphs a Glance
Click links to see  => Americas -  Asia/Pacific -  Europe  - Africa/Middle East 

--    

Senile Prognosticators: Richard Russell, Don hays & Lazlo Birinyi

Very Best CD Rates
Home Page for the Highest CD Rates
CD Survey -  High Yield CD Rates - Best Savings Account Rates

-------- Original Message --------

Subject:	America's Senile Prognosticators – Re: Richard Russell: The Dollar Has Lost All Stability
Date:	Wed, 26 Jan 2011 17:43:18 -0800
From:	Jas Jain

America's Senile Prognosticators – Re: Richard Russell: The Dollar Has Lost All Stability   

Posted by Lando:

The Scary Chart: Richard Russell: The Dollar Has Lost All Stability   

http://www.businessinsider.com/richard-russell-get-out-of-dollar-assets-2011-1

 

Richard Russell and Don hays have been senile for a while and now Lazlo Birinyi has joined the ranks. These people think that the markets of 1970s, 1980s and 1990s have relevance for forecasting the 2000s and 2010s.

History of Germany and France from 1750-1913 has lot more relevance in forecasting where America is heading! American past may be a good guide for where China is heading but not for where America is heading. Someone needs to tell that to Warren Buffett, a poor prognosticator of the path of the US economy for the next 50 years.

Jas

Best Investment Letter

What Is Money? Definition of Money

Money 

• Articles
• Definitions   
• Pictures of money

-------- Original Message --------

Subject:	What Is Money! -- Re: Adventures of "Helicopter Ben (HB)"
Date:	Wed, 26 Jan 2011 17:15:07 -0800
From:	Jas Jain

AS : "Jas, I'm curious how you personally define money in the current system. Thanks in advance."

 

In "the current system," I mean the global economy, the function that the US dollar serves is the definition of money—Medium of Exchange and Store of Value—and the best money, except for gold, that the world has seen in a very long time! In the existential form this money is collection of the US Treasury instruments outstanding (sovereign debt = money) of all duration and for convenience purpose the paper currency. How long the US dollar remains the best money except for gold is certainly something that one needs to be fully aware of. It would take the collapse of the American econo-political system for the US dollar to cease to serve the purpose of money and I predict that it would happen before the end of 2030. Therefore one must have the best form of money, gold, as an insurance against that outcome.

Proof

That US dollar is the medium of exchange is not in doubt. As long-term store of value the long-term US Treasuries have been the best store of value of one's savings over the past 30 years. For example, one can buy more than ten times as much crude oil or gold had one put his, or her, money in long-term US Treasuries. The long-term US Treasuries have returned far in excess of the inflation rate since 1980. The paper dollar bills are merely for convenience and not meant as a store of value.

 

Charlatans like Marc Faber, Jim Rogers and Peter Schiff, who have been trashing the long-term US Treasuries, are a bunch of bozos. These bozos simply do not understand money.

Jas

--------------------------------------

Adventures of "Helicopter Ben (HB)"

David Rosenberg; 01/25/11 (my highlight of Bernanke's comment):

But we'll tell you someone who isn't panicky at all. His name is Ben Bernanke. He runs the nation's printing press, and he is one cool customer. His nickname is Helicopter Ben. We'll call him HB for short. We just saw in the King Report that HB gave an interview on CNBC last Thursday when he was queried about the success of QE2, especially since bond yields and mortgage rates have gone up substantially in recent months. Here was his response:

"Policies have contributed to a stronger stock market just as they did in March 2009, when we did the last iteration of this. The S&P 500 is up 20%-plus and the Russell 2000, which is about small cap stocks, is up 30%-plus."

Well, there you have it. When you have a central bank chief talking about the virtues of small-cap stocks, you know you really have a pro looking after the country's monetary affairs. One has to wonder whether Kramer will end up on the short list for HB's replacement when the time comes. So what we have is a Fed that is now targeting the stock market and engaging in some form of manipulation to invite the same speculative risky behaviour that has ended so badly in the past. But make no mistake, HB is spiking the Kool-Aid in a significant way and it is working for now. So the Bernanke put is really an extension of the old Greenspan put, but with just a different strike price.

Money 

• Articles
• Definitions   
• Pictures of money

… 

Jas Jain Adventures of “Helicopter Ben (HB)”

Best Investment Letter

-------- Original Message --------

Subject:	Adventures of "Helicopter Ben (HB)"
Date:	Wed, 26 Jan 2011 09:24:02 -0800
From:	Jas Jain

Adventures of "Helicopter Ben (HB)"

David Rosenberg; 01/25/11 (my highlight of Bernanke's comment):

"But we'll tell you someone who isn't panicky at all. His name is Ben Bernanke. He runs the nation's printing press, and he is one cool customer. His nickname is Helicopter Ben. We'll call him HB for short. We just saw in the King Report that HB gave an interview on CNBC last Thursday when he was queried about the success of QE2, especially since bond yields and

mortgage rates have gone up substantially in recent months. Here was his response:

"Policies have contributed to a stronger stock market just as they did in March 2009, when we did the last iteration of this. The S&P 500 is up 20%-plus and the Russell 2000, which is about small cap stocks, is up 30%-plus."

"Well, there you have it. When you have a central bank chief talking about the virtues of small-cap stocks, you know you really have a pro looking after the country's monetary affairs. One has to wonder whether Kramer will end up on the short list for HB's replacement when the time comes. So what we have is a Fed that is now targeting the stock market and engaging in some form of manipulation to invite the same speculative risky behaviour that has ended so badly in the past. But make no mistake, HB is spiking the Kool-Aid in a significant way and it is working for now. So the Bernanke put is really an extension of the old Greenspan put, but with just a different strike price."

 

Looks like Rosenberg and HB, both economists, were bred in a whole different culture. HB owes his position to be fully bred in the culture of deception, fraud, and manipulation. There is a whole list of economists, including Krooksman, who are born-and-bred evildoers but only few get to the power to put the training, or evil breeding, into practice. These people are enemies of those who are honest, hardworking, and law-abiding among the American People. Obama is fully controlled by these organized gangsters; economists playing their role and other crooks playing there roles. American People are simply getting the natural outcomes of the System of the Crooks.

Jas

Very Best CD Rates
Home Page for the Highest CD Rates
CD Survey -  High Yield CD Rates - Best Savings Account Rates

Keynes, Gold, NBER and Serial Bubbles

Ed Hyman & Dennis Stattman's Outlook for 2011

-------- Original Message --------

Subject:	FW: Surreal Policymakers Are Blowing Serial Bubbles
Date:	Thu, 13 Jan 2011 13:59:53 -0800
From:	Jas Jain

"If the gold standard could be reintroduced in all of Europe, we all believe that the reform would promote trade and production like nothing else, and would stimulate international credit and transfer of capital to the places where they are most useful. One of the greatest elements of uncertainty would be suppressed."~ John Maynard Keynes, Commercial Manchester Guardian, April 20, 1922

Keynes was reasonably lucid until he took a bath in the 1929 crash and sought solace in the "liquidity preference".

 -----------------------------------

Surreal Policymakers Are Blowing Serial Bubbles

By: Bob Hoye | Thu, Jan 13, 2011

 

The above is more a sarcastic observation than a title for this edition. A play on words that is not inaccurate. Also it is descriptive of a mania in policymaking whereby central bankers in their desperation to prove their theories have exaggerated speculation in the All-One-Market (AOM).

In November we noted the ability of a methodical rise to soar to compelling conditions, become unstable and then fail. If it becomes big enough the buying frenzy drives our proprietary Momentum Peak Forecaster (PMF) to a critical high. Anything above 1.21 has been followed by a major high and slump.

It does not matter what the focus of speculation is. Examples since 1970 include credit spreads in 1998 that led to the LTCM disaster and housing in 2006 that led to the 2008 financial collapse.

In early December the "Forecaster" reached 1.25, which prompted our first alert. The implications were reviewed two weeks later when it had reached 1.27, which compares to 1.31 before the 1987 Crash.

This is plotted weekly and the number is now at 1.284 and is running out of momentum. Let's call it 1.28 and conclude that the formal signal has been accomplished. In which case the speculative frenzy in markets and policymaking is about to fail.

Typically, the lead from alert to failure has been within one to two months, which is a rather wide time window. There are some indicators that are confirming that both private and central bank speculators can no longer continue to bull the markets.

Stock Markets

"Get set for a great bull market. The stock market leads the economy."

This was reported in December and it is worth noting that "great bull markets" are different because the culmination does not lead the recession but is virtually instantaneous. Using NBER determinations, the peak in the business cycle and financial mania occurred with a month of each other in the 1929 and 1873 examples. In the 2007 example stocks peaked in October and the recession started in that fateful December.

Lately our view has been that recovery in markets and the economy is the first business cycle out of a fairly typical post-bubble crash. If the AOM (including stock markets) is peaking now we would expect that the business recovery is peaking as well.

Our "Forecaster" has something to add to this. In examples that included big action in commodities the signal occurred close to the start of the recession using the NBER determination.

In 1973 speculation encompassed all commodities and our Forecaster registered on November 23 and the recession started that November. The next sensation in commodities was the 1979 precious metals mania. The Forecaster registered on November 9, the high for gold and silver was on January 21, 1980. That recession started in January 1980.

Over the past six weeks the stock market has reached bullish sentiment numbers associated with previous important highs. One, the Trin, has the most exceptional reading since the 1960s.

Risk on the downside is becoming more obvious and our Forecaster suggests there is only a little time left for the favourable stock market and business cycle.

Ed Hyman & Dennis Stattman's Outlook for 2011

Jas Jain All-One-Market (AOM) & Currencies

Very Best CD Rates
Home Page for the Highest CD Rates
CD Survey -  High Yield CD Rates - Best Savings Account Rates

-------- Original Message --------

Subject:	FW: All-One-Market (AOM) & Currencies
Date:	Thu, 6 Jan 2011 09:19:47 -0800
From:	Jas Jain

http://www.safehaven.com/article/19555/signs-of-the-times

 

Signs Of The Times

By: Bob Hoye | Wed, Jan 5, 2011

 

"Get set for a great bull market"
"The stock market leads the economy" ~ Financial Post, December 22, 2010
"U.S. Equities push global advance as investors bet on economic rebound" ~ Financial Post, December 30, 2010
"Wall Street on talent hunt" ~ Reuters, December 30, 2010
"What crisis? Wall Street big spenders rediscover love of all things luxurious" ~ National Post, December 30, 2010

All-One-Market (AOM)

Now is the season to prepare an overview on the stock market for next year. For some research departments this involves separate studies on stocks, bonds and commodities. For us the phenomenon has been the belligerent policy of dollar depreciation that has prompted the most tradable assets to soar - not individually, but together.

Our outlook for next year is happening now and involves the transformation of a methodical rise into runaway speculation. This sets up a severe plunge as speculators lose the ability to bull the market. And as we have seen, governments have become highly speculative interventionists whose actions have exaggerated the ups and downs.

In engineering terms contra-cyclical is negative feedback that diminishes periodic action. By embracing speculative economic theories and practices the establishment has created a positive feedback mechanism that has fostered one of the greatest speculative eras in history.

A few weeks ago we reviewed our "Momentum Peak Forecaster" (MPF). As awkward is the title is - the model has anticipated the end of some of the most outstanding blow-offs on data back to 1970. When the indicator rises above 1.21 the action is becoming dangerous. We flagged it at 1.25 and now at 1.27 the rise is losing momentum. When it rolls over the warning signal becomes official.

It has worked on any kind of speculation as with narrowing European credit spreads in 1998, and retrospectively with the precious metals mania in 1980 and with the commodities boom in 1973.

Typically, the signal leads the end of the buying frenzy by one to two months, which is the first part of our 2011 outlook. The second part would be the collapse of speculative furies.

The prospect is fascinating and we should review the probability of it working out.

Currencies

The success of the Fed's dedication to depreciation relies upon the ability of speculators to boost prices and expand leverage. Without them the Fed's ambition is thwarted. If this wasn't the case, asset inflation would have been continuous. But the financial world is not perfect and traders will take a trend to instability and then to liquidity problems.

Traders accommodated the Fed as the dollar declined to 75.6 in early November. Our call for important lows in the DX includes the Downside Capitulation on our proprietary model and the conclusion of the Sequential Buy pattern. The latter completed in early November. Of interest was the exceptional low reading of 3 Percent Bulls, which compares to the two earlier intermediate bottoms at 7 Percent at 70.7 in April 2008 and at 74.2 in late 2009.

The low at 75.6 in November has the potential of being a very important low in the dollar. This is backed up by the MPF.

On the near-term, the DX became somewhat overbought on the initial surge to the natural target of 81. The consolidation can run into January.

The Canadian dollar keeps bumping its head at par and our view is that it is unlikely to get materially above 100. When the speculative party ends the C$ will decline - perhaps to 93.

Very Best CD Rates
Home Page for the Highest CD Rates
CD Survey -  High Yield CD Rates - Best Savings Account Rates

China backs Spain in new Eurozone support

Very Best CD Rates
Home Page for the Highest CD Rates
CD Survey -  High Yield CD Rates - Best Savings Account Rates

-------- Original Message --------

Subject:	Re: BBC News - China backs Spain in new Eurozone support
Date:	Thu, 6 Jan 2011 08:46:29 -0800
From:	Jas Jain

BBC News - China backs Spain in new Eurozone support

Hugh: "I continue to be amazed by how the American banksters just don't get it. China's dollars are busy undoing American hegemony as we speak. Just look at Africa - it's been years since I've heard anything about the "third world debt crisis".. And they're scoring big points now for helping Europe out. So big that it will inevitably call NATO's existence into question if the attacks on the Euro continue. And don't think Putin and Merkel aren't on the same page about exploring where future security guarantees will need to come from. I recognise that some folks might not desire that outcome, but that doesn't alter the fact itself."

 

Come on, Hugh, you are no spring chicken. You must know by now that "American banksters" are financial bloodsuckers, i.e., parasites, as well as wanderers. After they have sucked born-and-bred American dopes dry they would wander over to Shanghai, Mumbai, Rio, etc. Guess who is responsible for breeding Americans into dopes, wholesale? For example, "Democracy is the best political system except for all the rest." LMAO. Anglo-American democracy is the political system of banksters and fraudsters. The proof is in the pudding. The countries most susceptible are: India, the UK and the US. The past American success was based on the warrior ethic and not on deception and financial fraud ethic that is now part of the ruling elite. China today has far more moral leadership than India and the US. Times change!

Jas

Laszlo Biriny's S&P 500 Target Price for 2013

• Portfolios at All Time Highs as we Enter 2011

-------- Original Message --------

Subject:	FWC: Laszlo Birinyi… the S&P 500 will rally to 2,854 by September 4, 2013
Date:	Thu, 6 Jan 2011 06:38:16 -0800
From:	Jas Jain

Laszlo Birinyi… the S&P 500 will rally to 2,854 by September 4, 2013

David Rosenberg; 01/05/11:

The fact that Laszlo Birinyi published a report yesterday concluding that the S&P 500 will rally to 2,854 (what … no decimal place?) by September 4, 2013 (oh, only another 125% from here) is perfect. Absolutely perfect.

 

Bubble-meisters are out in force.

Also worth reading are quotes from evildoer Bernanke, appended below. Sad thing about born-and-bred American dopes is that only liars and evildoers can be their top political leaders (yes, Fraudulent Reserve is a political institution and the admission is mostly limited to the members of a cabal that serves bankers and financiers; all three recent Obama appointees are members of the cabal).

Jas

-x-x-x-x-x-x-x-

David Rosenberg; 01/04/11:

"MARKETS LINING UP BEHIND BERNANKE? "They will make it through the storm." This is from Ben Bernanke. And "they" are Fannie and Freddie. These words were literally uttered a mere two months before Fannie Mae and Freddie Mac collapsed and were effectively nationalized. This is about on par with "the troubles in the subprime sector on the broader housing market will likely be limited" and of course "what I think what is more likely is that house prices will slow, maybe stabilize" just prior to the collapse. We of course do not want to appear disparaging, but this is the chief monetary official that the markets have lined up behind and put their faith in over the past four months. (Check out the picture of Mr. Bernanke decked out in a superman costume with cape and all on page R1 of yesterday's WSJ. Yikes!)"

 

Thank you, Mr. Rosenberg, for exposing incompetence and lies of Bernanke. 

The Long Road Ahead by Paul Krugman

-------- Original Message --------

Subject:	FWC: The Long Road Ahead by Paul Krugman
Date:	Sun, 2 Jan 2011 12:29:37 -0800
From:	Jas Jain

FWC: The Long Road Ahead by Paul Krugman

"…unemployment would be close to 8 percent at the end of 2012, and wouldn't get below 6 percent until midway through Sarah Palin's first term."

 

Which road are we talking about? This guy, Krooksman, is an agent of the Debt Pushers and fully deserves to be condemned with harshest language. The first commentator, appended, is right. I am no fan of Sarah Palin, but she is a far superior economist than Krooksman! The US economy is not on any "road;" it is in a ditch. Only a dumb ass like you thinks that an 8-10% debt-financed stimulus to get a 2-3% growth is a recovery; no, you dope, the US economy is still in the ICU, i.e., is in a ditch. Your guy, Oh-bamba, is only digging the ditch and getting the American "economy" in a deeper hole. I realize that you make a living being an intellectual whore, but to get out of the hole you must stop digging first, no? You are not an economist; you are a profligate! Live with that. Your Nobel Prize is no more deserving than Obama's! You both are serving the interests of the Crooks and that is the only reason for the prize. So, don't delude yourself with any grandeur. And you claim to have a conscience. Have you no shame?! You are a hardcore Communist disguising as a Progressive. Be a man and say that you are a born-and-bred Communist. Hack, that is an insult to Communists in China who understand capitalism far better than you do.

Jas

PS: There has been lot of very fine discrediting of Krooksman in comments over the past year or so, but many American dopes are impressed with the credentials. He is by far the worst of the lot of American e-CON-omists. He is a conman, alright. Aren't Americans "lucky!"

-x-x-x-x-x-x-x-x-x-x-x-

http://krugman.blogs.nytimes.com/2011/01/01/the-long-road-ahead/

January 1, 2011, 9:24 am

The Long Road Ahead by Paul Krugman

…

So, suppose that US growth is accelerating. Even so, it will take years of high growth to get us back to anything resembling full employment. Put it this way: suppose that from here on out we average 4.5 percent growth, which is way above any forecast I've seen. Even at that rate, unemployment would be close to 8 percent at the end of 2012, and wouldn't get below 6 percent until midway through Sarah Palin's first term.

-x-x-x-x-x-x-x-x-

"1.ndspinelli, usa; January 2nd, 201, 5:19 am: We are in a perfect storm. Capitalism has created a consumer culture in the US that has been fueled by credit. Individuals and government have lived above their means, and our children will be worse off then us baby boomers. Professor Krugman wants the government to continue this quixotic journey. It simply won't work."

Greater Depression Yet to Come

Saturday, January 01, 2011
My Portfolios at All Time Highs as we Enter 2011

-------- Original Message --------

Subject:	FWC: Prosperity, Real or Imagined
Date:	Sun, 2 Jan 2011 11:11:41 -0800
From:	Jas Jain

Appended is a review of Inflated: How Money and Debt Built the American Dream by R. Christopher Whalen.

As those who have read my commentaries for more than a dozen years, with my signature slogan "It Is the Debt, Stupid!," know that the US has "enjoyed" an artificial growth via debt-induced consumption. All the GDP growth in the US economy since 1997, and more!, has been a result of  consumption by Americans of stuff produced outside the US of A with borrowed money. The arithmetic is plain and simple: 8-9% annual rate of debt-based consumption, funded by both private and public debt, to get 2-3% annual rate of GDP growth. Chinese could hardly thank Americans enough for turning China into a real contender for the largest economy in another 10-15 years. Even Indians are thankful for the thoughtless American profligacy. America ceased to have an economy; it has created profligacy! You ain't seen nothing during 2001-2010. The worse is yet to come. Lot worse, as in Greater Depression.

Jas

-x-x-x-x-x-x-x-x-x-x-x-x-x-

Prosperity, Real or Imagined:

http://www.nytimes.com/2011/01/02/business/02shelf.html?_r=1&partner=rss&emc=rss&pagewanted=print

January 1, 2011

Prosperity, Real or Imagined

By NANCY F. KOEHN

"THE past is never dead," William Faulkner wrote in 1951. "It's not even past." Six decades later, R. Christopher Whalen takes up the gauntlet implied in those words in "Inflated: How Money and Debt Built the American Dream" (John Wiley & Sons, $34.95).

Mr. Whalen, a consultant and former investment banker, marches zealously back in time to try to understand the long-term viability of the American economy in the wake of the 2008 financial crisis.

The author sees a conflict at the heart of Americans' attitudes toward money and debt. We tend to view ourselves "as reasonably prudent and sober people," he writes, while "the choices we make at the ballot box seem to be at odds with that self-image."

"As a nation," he says, "we seem to feel entitled to a national agenda and standard of living that is beyond our current income."

To finance these expectations, we have continued to borrow extensively from the future — think subprime mortgages, household credit card balances, the federal debt, the trade deficit and more — with turbulent and, at times, nearly disastrous results.

...