First !!

In Monday trading, one pound was worth $1.6433, its strongest position since early November last year.The euro was also up against the dollar, with one euro worth $1.4246 at one point, a six-month high.The dollar has fallen on signs the global economy is improving. This makes currency traders more confident to switch to higher-yielding currencies.http://news.bbc.co.uk/2/hi/business/8076713.stm

Earlier quote by Hayes on this forum …”the following speaks for itself and speaks volumes (note the comment I have highlighted from this short article)Meet GM’s Dismantler: Brian Deesehttp://www.thetruthaboutcars.com/meet-gms-dismantler-brian-deese/”au6553 :June 1st, 2009 at 12:28 pmYou’re not reading closely enough. He isn’t a lawyer, because he never even finished law school, much less passed a state bar.To keep score – he’s not an economist, is not an expert on bankruptcy, hasn’t bothered to finish his law degree, doesn’t have an mba, and has no background in the auto industry. This is positively stunning.”I second that opinion.I read the article about Brian Deese … and my jaw dropped wide open. Maybe this is an example of the full employment policy that Obama is aiming at. Maybe not many people from Yale want to take the challenging job of changing light bulbs in manufacturing plants. But to put a grad student in charge of the reorganization of GM …SAY WHAT ??????????Come to think of it, if the guy needs a job then why not put him in the state legislature of California. He can’t possibly do worse than the politicians we’ve already got. At least I wouldn’t be worried about that assignment.PeteCA

Dear Sir,I cannot understand the point you make. The economy could certainly rebound in a modest way and avoid a depression. Good news. But I do not buy into any argumentation about long term recovery.Building a money-conscious US economy will take certainly more than a couple of additional trimesters. Building a more decent monetary system – hence an acceptable framework for globalization – is currently just of reach.Apart from a limited change in the US consumer behavior – and certainly to short to have long term impact – what allows anyone to prognosticate better times.

might be the perfect time, while everyone is focusing on green shoots, etc., while maybe failing to predict what’s ahead, or accurately see what’s really going on now.

Just paid 3.02 a gallon for gas in Calif… Go back to this time last year and the rise in gas soon led to the Septembet meltdown… People stoped paying thier mortgages and bills so they could put gas in thier cars… As gas prices go so will the next big downturn in the economy… its the same game being played out…this time the fundamentals are even worse, thier is less credit for people to charge thier gas… only good news is thier are elss drivers because thier are NO JOBS! No JOBS equals NO RECOVERY anytime soon… I still fail to see with Job growth will come from… With recent data indcicating that FED and State Tax revenues are falling off a cliff and in major decline it is only a matter of time before Gov’t layoffs occur accross all sectors and that was the only part of the job market that was holding…I went to two malls yesterday, both were 25-35% vacant, traffic lite and prices high on everyhting. Went to lids to by an offical NY Yankee ball cap, the guy found it, rang it up and when he said 37.99 i almost choked and said no thanks.. then went to macy to purcahse a pair of loafers, on sale price was 79.99 i said no thanks. now it had been about a year since i went shopping and i could not believe the price increases… a pair of Levis’ 501 in Sears was on sale for 39.99 -lol. looks lile prices going up for those that can or want to pay them… these stores are doomed with this philosphy. and it wasnt that i could nto afford this stuff… jsut decided i didnt need it enough and will find it online cheaper.Folks – this a lull in the storm, the data , numbers, fundamentals are worse then ever…

agree! The retailers (who are left or barely hanging on) cannot continue with huge sales and “loss leaders” to get customers in the door without selling their other merchandise at a profit. As more and more people adopt the “McWalmart” mentality (eat at McDonalds, shop at Walmart) a domino effect of failing manufacturers, retailers, malls and increased unemployment will extend and most likely worsen this recession. And the auto industry-don’t get me started!

But I thought all you guys NEEDED a pick-up for your huntin’ shootin’ and fishin’ trips at the weekend when you went up to the cabin by the lake?Sorry – it’s too easy taking shots from the other side of the pond. Beleive me when I say we are all living in pain. However, as a parting shot (!) may I suggest that y’all come back and moan about your gas prices when they reach $7 a gallon which is what we pay in Europe. Hey – that could be a great revenue generator for your Guvmint!

NOT!!!

5.5% mortages and 3+ dollar gas is not a formula for recovery. Where are the jobs going to come from, when everybody is spending more on gas??This inflationary bubble into commodities only helps perceptions for bank stock purchases. Now that GM is in bankruptcy, the new mantra is “WHAT IS GOOD FOR GOLDMAN SACHS IS GOOD FOR AMERICA”.Unfortunately, jobs don’t fit in to this vision.

hee hee

Job creation needs to be paramount at this stage of a recovery and the Obama administration has yet to resolve this issue. A double-dip recession does seem most likely, but even more frightening is the fact that we may become just like Japan and flatline for decades without job growth.It’s frustrating to wait and see what develops going forward, recognizing there was an immediate need to stabilize the financial system first and foremost. Now that this appears to have occurred, jobs must be created, and soon, in order to maintain this financial stability, otherwise we may find ourselves right back in the midst of implosion once again.TPTB seem to have a better handle on things, but I think they may quickly be blindsided if they don’t move faster to avoid impending disaster.

On the gas and oil issue. It is obvious that we have more supply than demand but yet the price of oil continues to rise.Here’s a thought to consider – there were three countries or areas – China, Japan and the oil emerants that were buying 60% of our treasuries. It’s obvious that Japan will not be able to help much these days. We have Turbo Tax Timmy over telling China … It’s all good! Which leaves us with the oil countries.Do you think the US and the oil emerants are gaming the system for future buys in treasuries (i.e. we will keep oil high you continue to buy treasuries)?

BEIJING — China’s former central bank adviser Yu Yongding will meet Treasury Secretary Timothy Geithner today and tell him the U.S. shouldn’t be complacent about China continuing to buy Treasuries.”I wish to tell the U.S. government: ‘Don’t be complacent and think there isn’t any alternative for China to buy your bills and bonds,’” Yu said in an interview yesterday. “The euro is an alternative. And there are lots of raw materials we can still buy.”http://www.bloomberg.com/apps/news?pid=20601068&sid=aatNgaPM2wQM&refer=home

Most Europeans have the benefit of more public transportation. Cities in the southern part of the US really have very little public transport and places are spread out for miles and miles. But $7 a gallon still sucks no matter how you look at it.

唯一偷食經驗!!大約一年前!!有老死生日BBQ(當時識佢果陣我條女唔係到,因為佢極度唔鍾意我其中一個FD,佢打死都唔去)佢係一個文員,平時反工會著OL裝,但平時出街就會著得好SEXY(佢亦都有男友)識佢第一日係成班FD BBQ 係一個好黑既交野公園 當時完全冇留意這個小妹妹(因佢細我5年)當BBQ完後我車其中2個FD反屋企,而這個小妹妹亦順路,所以車埋佢,先掉低我2個FD後,最後先到佢佢落車時話我好好人,我話順路啫,唔駛咁客氣,之後佢問我拎電話,有機會再一齊玩過幾日後~佢SEND SMN 問我有冇MSN~覆佢有之後我地就經常性地傾MSN當中我地有傾過性問題,佢話佢男友成日睇AV,話佢成日打飛機都唔肯掂佢(一星期一次左右,佢地係同居)我答佢你一星期有一次咪算好囉(因為我果時個女友係有性冷感,平均1-2個月先有一次)咁佢問,你平時想要但佢又唔比咁點算?我話一係忍, 一係自己搞掂囉,佢再問!你咁都唔去偷食?我答:因為我接受唔到自己另一伴偷食,所以張心比己,我唔會咁做大約MSN左一個月左右,我就約佢出黎食飯(只是朋友食飯,冇諗過會有事發生)之後食完飯,佢約左朋友飲酒,但未夠鐘,所以我就同佢搵個地方坐低我唔記得當時佢講過D咩,但一定係好有挑釁性既說話,我就一野咀埋去,咀到佢興合合既時候我就話係街唔係咁好,我地搵個地方再傾過,佢話好,咁我就一路行,是是但但就搵左間時鐘酒店一去到唔駛問梗係係咁車佢,車到咁上下我就話一齊沖涼,但佢話唔好,OK~自己沖自己上到床佢係完全另一個人,自動幫我吹,吹冇耐我就黎招69先,佢好多水,我成塊面都係=.=(係我見過出得最多水既女仔)冇耐就帶套上馬,因為佢約左人,所以時間緊迫,拿拿聲想搞掂掂算先黎個男上女下,再黎狗仔,D水真係多到唔知點講可以話係潮吹咁,係咁噴出黎,見到咁既情況我冇耐已經忍唔住出左,沖涼後佢就去左搵FD,宜我就有D內疚最後我地只係有這一次,耐唔耐就MSN下咁,當然再打後我唔知仲有冇機會喇

you are not calling the shots, man. they want to buy euros and they can do it – your opinion does not count.

This has obviously been a tradeable rally that most of us probably missed, as NR has been patting himself on the back about being right 12 to 18 months ago. He’s missing something now. Bright people are making money and he’s still in denial that the market rally is real.

The story isnt’ over yet !Nobody suggested the rally wasn’t “real”.In 1929, after the crash in October, there was a rally that lasted almost 6 months and took equities up more than 35% before they tumbled down by close to 80% for the following 30 months.In total, there were 6 such rallies during a period of 3 years.One can make money with those rallies, but one must know when to sell, and there lies all the difiiculty.So time will tell who was right or wrong, for the moment, it’s a bit early to wirte dispariging messages about NR.

You can trade all you want, however a lot of us would like to INVEST when the fundamentals indicate that is the right time to jump in.I (we) suspect that the market is being manipulated to accomplish a certain goal, that is raise capital for banks. Since I smell a rat, I will keep my few depreciating $’s in the bank.NR has been clear about this being a bear rally backed with data.

I agree that the markets are being manipulated to accomplish concurrent goals, but this isn’t to suggest that all stocks will go down if the rally ends. There have been many companies’ stocks that were so severely undervalued that I have been both trading and investing, taking advantage of some great bargains. For those of you willing to take some time to find those undervalued stocks, I am confident you will find many that have low downside risk and huge upside potential.The liquidity crunch we endured created a huge buying opportunity and great buys can still be had. I am hoping for a pullback so I can add to my positions as many of my purchases have already shown huge gains, and the volumes indicate accumulation, not trading. You haven’t missed the boat, but it’s going to take more than just throwing a dart at a dartboard to find them now.

The on-going financial crisis in the USA has caused a lot of Americans to do some deep thinking about earlier generations of men and women who founded our country – and the values they beleived in. This last week Doug Wakefield and Ben Hill wrote a really good article that captures some of that theme at the following link …Lessons from Andrew CarnegieNote especially the following sentences written by Andrew Carnegie in the 1800′s when the world was experiencing a major financial debt crisis …”The Republic [America] emulated her mother’s [Britain] example and cuts down her debt with unexampled rapidity. It is a curious fact that these, the two English-speaking nations, should be the only ones who resolutely set their faces strongly in the debt-discharging direction.”At that time in American history our leaders shunned national debt and avoided a crisis – through their strong commitment to financial responsibility, hard work, and savings.Something we should think hard about today.PeteCA

Well … for some reason the link I posted doesn’t seem to work on this Web page. Let me try again, and also post the http script.Link: Lessons from Andrew CarnegieHttp script:http://www.bestmindsinc.com/documents/TheNextLandslide_LessonsFromAndrewCarnegie.pdfPeteCA

Global stock markets are being supported (again!) by the very same firms that are supporting our domestic markets. Our liquidity injections are finding their way into foreign markets, and if our spigots are turned off, those markets will sell-off as well.

What has been left largely unsaid, in definitive terms, is who the “consensus” of economists work for (largely the investment and banking industry)and where their bread is buttered. This is unlikely to change. Aside from Merideth Whitney’s banking views, few said to get out of the markets as severe troubles lie ahead. Brokereage research will NEVER say it nor will the mutual fund industry. So for those of us who manage client assets we are forced to defy the industry’s views. My experience with clients is they will believe a major firm or the media over my advice far too often. Too bad. The “consensus” has a vested interest in the market machine and so on and on they go.

So am I … and every American parent should be. The whole reason that I started studying economics more seriously several years ago – and participating in this forum – was because I was concerned that America’s financial future “did not add up” and the outlook for my kids was not very bright.If America undergoes another revolution, it may not come from reactionary outcasts who are living in bunkers in the mountains. It’s more likely to come from millions of American parents who are “mad as hell” and want something done about the situation.PeteCA

Ah HAHAHA, I am back!!! Inflation fly to the sun!!!

Hang Seng is soaring to the moon lately…

The more the fed monetizes Long Term debt, the less confidence they give to potential investors in these instruments (and the less interest for the risk), so the less they encourage them to buy these, so the more the fed has to monetize : it’s a spiraling effect.There should come a point where investors will mainly buy short term debt, and the fed will monetize the majority of the long term one.Now that it’s started, I don’t know where it will end. The credit markets have at least 20-24 trillion $ of debt too much, most of it long term. Looks like inflating it away is what’s the plan.

http://www.safehaven.com/article-13501.htmgold just had golden cross, launching a secular bull market!!!!! gold fly to the sun!!! smoking hot!!!

I just reread my post, and it’s depressing. I think I need a drink!

Have been thinking along the same line, Bob.”Sitting on nearly a quarter of the world’s known oil reserves, the kingdom can afford lavish dreams. As crude oil surged to a peak of $147 a barrel in July 2008, the state-owned oil and gas company, Saudi Aramco, generated as much as $1 billion a day in revenue.Foreign HoldingsThe Saudi Arabian Monetary Agency — the nation’s central bank — built up its holdings of foreign assets such as bonds and currencies to $546 billion in October 2008 from $98 billion in 2003. Saudi Arabia’s total 2008 GDP of $482 billion dwarfed that of every other Middle Eastern nation.”http://www.bloomberg.com/apps/news?pid=20601109&sid=a0F1sR1E0a4M

Job creation will come from developing alternative energy technologies and sources. With high oil prices, the financial returns from alternative energy all of a sudden become compelling. This is the plan, let oil prices spike, develop alternative energy

Major buying opportunity June 12th, buy buy buy with both fists. GM CDS auction – best opportunity to get back into the market.The market is heading up as there is nobody left to sell. Capitulation DID happen this spring and most of us were late to the party. This is YOUR opportunity – don’t waste it. There’s a ton of cash on the sidelines and it will start pouring in. Prepare now and get ready to buy, but wait for the pullback, and don’t buy until June 11th or 12th, which ever day gives us the biggest pullback.

ABC NewsThe Emergence of President Obama’s Muslim Rootshttp://blogs.abcnews.com/politicalpunch/2009/06/abc-news-jake-tapper-and-sunlen-miller-report-the-other-day-we-heard-a-comment-from-a-white-house-aide-that-neverwould-have.html

Farsighted and fascinating predictions for a new world order in which America is no longer number oneThe world is now at a hinge moment in its history, according to veteran international correspondent Paul Starobin. A once-dominant America has reached the end of its global ascendancy, and the question of what will come next, and how quickly, is not completely clear. Already the global economic crisis, in exposing the tarnished American model of unfettered free-market capitalism, is hastening the transition to the next, After America, phase of global history.According to Starobin, the After America world is being driven less by virulent anti- Americanism than by America’s middling status as a social, economic, and political innovator; by long-wave trends like resurgent nationalism in China, India, and Russia; and by the growth of transnational cultural, political, and economic institutions. While what is going to come next has not been resolved, we can discern certain narratives that are already advancing. In this sense, the After America age is already a work in progress—pregnant with multiple possibilities.In this book, which masterfully mixes fresh reportage with rigorous historical analysis, Starobin presents his farsighted and fascinating predictions for the After America world. These possibilities include a global chaos that could be dark or happy, a multipolar order of nationstates, a global Chinese imperium, or—even more radically—an age of global city-states or a universal civilization leading to world government. Starobin feels that the question of which narrative will triumph may be determined by the fundamental question of identity: how people determine their allegiances, whether to the tribe, nation-state, city-state, or global community.There will be surprises, Starobin thinks. In the After America world, both the nation-state and the traditional empire may lose ground to cosmopolitan forces like the city- state and the universal civilization. California—the eighth largest economy in the world and the most future- oriented place in America—is becoming an After America landscape, as illustrated by postnational, multicultural Hollywood. Prestigious educational institutions like Harvard are migrating from an American to a global identity and thus becoming part of an After America universal civilization. While these changes may feel unsettling, our best hope for adapting to an After America world is by becoming better borrowers of the best ideas and practices developed all around the planet.Thought provoking and well argued, After America offers a way to think about a dramatically changing world in which the United States is no longer number one. Starobin’s tone is sober but in the end hopeful—the age After America need not be a disaster for America, and might even be liberating.http://us.penguingroup.com/nf/Book/BookDisplay/0,,9781101054161,00.html

HELLO!? WHERE IS EVERYBODY??? Ya think that maybe everyone’s moved on and is no longer reading this board since we are in a new bull market?

You don’t really think the market is this easy to predict, do you?

Impeccable logic, impeccably said.

I just don’t see a catalyst that will create more selling to the degree in which we’ve already seen. We certainly have fundamental problems that need to be addressed, but liquidity will prevail and we will again see a jobless recovery. Bogus? Yes. Profitable? Yes. Very low downside risk? Yes.

When you’re deep enough in debt, your banker becomes your partner.The fate of the dollar and of Treasury debt depends on a combination of spending cuts (Soc Security and Medicare, ending the Iraq/Afghanistan/Pakistan war) and tax increases to balance the budget. Otherwise today’s deficits – very hard to fund – will become totally unamanageable in the near future. That’s the message the Chinese are sending. What they don’t yet know is that Obama’s “left wing cover” for austerity is by no means a done deal.

The pre-capita income of the Saudis is dropping. I would argue that this point is not lost on the US government and that they see it necessary that oil prices not drop too far lest there be a huge upheaval and the world is faced with a sizable drop in global production.Mark

I need 3 drinks: in following this thread I recapped my own somber adventure: sold my expensive home in CA in 2005 at peak (very smart) moved family to Florida and bought alot of real estate (very dumb), but cost of living much less (very smart) until today when our Governor Crist just announced an 8-15% rise in tuition for all public universities which my daughter happens to be starting this August (very dumb). So, on paper that’s 2 very dumb moves against 2 very smart moves, yet in reality, I feel screwed. Honey, what do we have to drink?

It reminds me of a safety poster at work which shows someone at the “Pearly Gates” stating that “I’d only ever had one accident!”I’ve done pretty good with what I have, and could have made things look even better had I jumped ALL IN. But it then becomes an issue of when to jump out.If things were so easy then all the big players would be engaging in the same actions; unfortunately, this then would result in a dilution, which wouldn’t result in all that great of returns (compared the the initially advertised ones). Nassim Taleb has a great paper on predictability.“When you find that you are on the side of the majority, it’s time to pause and reflect.” – Mark TwainMark

Whatever. I think you’re missing the big picture since most everyone thinks this is a sucker’s rally, and everywhere I go and all the posts I read on other blogs are SO gloomy that no wonder they’ve missed the boat. Oh well.Octavio also thought I was a fool when I bought on the Lehman bankruptcy date, when we darn near suffered a financial meltdown and instead I earned a 25% return in ONE day. This isn’t about bragging, this is about understanding what’s driving the markets. I understand the liquidity forces behind these markets, and that liquidity is running freely these days. My goal is only to share my understanding, and instead I’m being thrown under the bus. I’ll keep information to myself and let you guys guess when it’s safe to jump back in.

I see you’ve got a tan. Hope you brought us back some souvenirs from your vacation.PeteCA

2-4 weeks maybe

Oh, and this is why we need to hang onto our national parks: they’ll end up like Indian reservations for white folks!Mark

Or go sign up with the KKK… Or whatever it is that people pushing racist agendas do.Mark

China’s sovereign wealth fund is chucking over a $1 billion in new capital at Morgan Stanley. They’ll own more than 3% of MS after the offering. A subsidiary of Mitsubishi bank is ponying up another half billion and will own more than 20%. <html>http://www.marketwatch.com/story/mufg-china-fund-buying-big-morgan-stanley-stakes

Geithner faces sluggish market, rents out NY homeTreasury secretary grapples with sluggish market — for his own suburban NY homeNEW YORK (AP) — The real estate market’s troubles are hitting close to home for Treasury Secretary Timothy Geithner.After reducing the price on his house in a tony New York City suburb to less than he paid for it, Geithner still couldn’t sell and recently rented it out instead, according to real estate agents familiar with the deal.Geithner put his five-bedroom Tudor near leafy Larchmont on the market for $1.635 million in February, after heading to Washington for his job as the nation’s top economic official.A few weeks after the asking price was dropped to $1.575 million, the home was rented for $7,500 a month on May 21, said the agents, Scott Stiefvater of Stiefvater Real Estate and Debbie Meiliken of Keller Williams Realty New York.Neither was directly involved in the rental; the name of the broker and agency that arranged it were not immediately available.Although $7,500 might seem like a lot of rent, it probably falls a bit short of the monthly mortgage payments on the Geithners’ two loans totaling $1.25 million, plus $27,000 a year in property taxes.Treasury Department representatives didn’t immediately return calls about Geithner’s home Monday and Tuesday. He was in Beijing for talks with Chinese leaders.Records show Geithner and his wife, Carole Sonnenfeld Geithner, paid $1.602 million for the home in 2004.The roller-coaster housing market helped spawn the recession Geithner is tasked with ending. Nationwide, the median home price in April — $170,200 — was more than 15 percent lower than in the same month last year.Prices have declined at about the same rate in Geithner’s home base of Westchester County, which includes a string of upscale suburbs north of New York City. At $532,000, the median Westchester home price in the first quarter of this year is at a level last seen in 2003, according to the Westchester-Putnam Multiple Listing Service. Sales have been especially slow in the $1 million-plus range, the real estate information service said.Despite some signs of a national housing-market turnaround, analysts expect prices to take some time to stabilize because of the overload of homes available.In the meantime, many homeowners, like the Geithners, are deciding to rent their properties, brokers say.Some are buying themselves time to wait for prices to rise. Others are trying to cut the cost of carrying their unsold homes, even if their tenants’ rent doesn’t entirely cover it.”There are people who just cannot come down off their asking price because they just cannot afford to lose $200,000 or $300,000, so they’re saying, ‘Let me just put a Band-Aid on it temporarily,’” Stiefvater said. “Losing a couple of thousand versus $5,000 or $6,000 a month, that’s a lot better.”Geithner, 47, was president of the Federal Reserve Bank of New York before becoming treasury secretary.His Westchester home has a Larchmont mailing address but is just outside the village boundaries in the town of Mamaroneck, a yachting hub and the home of the Winged Foot Golf Club, a frequent site of professional championships.The 1931 home has been renovated, making it appealing to renters looking for a ready-to-move-in home, Meiliken said.”Geithner’s house was definitely something that you could be happy to live in for a while without having to put any money in it,” she said.http://finance.yahoo.com/news/Geithn…9661.html?.v=3

dont believe any word those Chinese said until back by action.he he, that is exactly what folks are saying about the U.S. government.

…and does the Eurozone have trillion+ dollar deficit?

It is the System only as far as people are willing to be dictated by it.Another issue is that many people believe that it is fully possible to talk the economy up or down, i.e. that negative views can well become self-fulfilling prophecies and that positive views can rescue an economy that is down the tube.

Looks like one of those books that mixes some known facts with some generally accepted beliefs and formulates a future view using some nice vocabulary. In other words could be as incorrect as many past “Thought provoking and well argued” books.

State of U.S. manufacturing: amount of orders is down except for new world orders.

Mark, they can buy the commodities and delude themselves, at least over the short term, that they have an appreciating asset. As you point out, they’ll eventually find out that the world isn’t purchasing their stuff and the copper they are paying $2.30 a pond for will be back at a buck fifty.

If they cannot afford to lose $200k or $300k now, it does not seem likely they will be able to afford $400k or $500k later. The market is the market. It does not care what the participants can or cannot afford to lose.There are many people in this situation in their primary and second homes, holding on for the gamble that the market will come back. Never mind that the peak price was illusory. At some point, many will be forced to capitulate.

It’s not prescience, it’s information. I’ve posted auction dates here plenty of times and I’m sure other posters will attest to this.I have been trading in and out of the market through all the turmoil, and it’s too bad I’m not a billionaire by now. Guess it depends where you start from!Keep believing that the market moves on economic news and fundamentals, that’s what most believe. I however, do not.

Not so fast, grasshopper. The Fed just announced it may require them to raise even more capital. So the incentive to keep the market high may continue. Let the good times roll! See this: <html>http://www.bloomberg.com/apps/news?pid=20601087&sid=ajQ3cx_jGULI

Hi Pete.Rather than investors fleeing longer Treasuries, I think the answer is that we are running out of buyers, that supply is simply exceeding demand. I found it interesting when the Fed announced back in March that they would buy $300 billion of longer dated Treasuries in the following six months. The ten year, in a matter of minutes, traded down from a 3% yield to 2.5%. What were the players thinking? The Treasury was going to have to issue $2+ trillion of new securities (in addition to rolling over maturing bills, notes and bonds)in the coming 12 months. Did Bernanke & Co actually believe they could get longer rates down by such paltry intervention? The market initially thought so but here we are at 3.65% and look to be heading higher.The classical economists will tell you that such a steep curve is positive for the economy but in this case it’s nor. The Feds can control short rates but not longer rates. Supply and demand will continue to do that and the curve should get steeper.Unfortunately, there is some nastiness hidden in this back up in longer rates. Banks have been huge buyers of Treasury securities, investing almost all of the trillions of dollars of Fed injected liquidity into that asset class. “The plan” was that the positive yield curve, i.e. cost of deposits close to zero, with Treasuries yielding something positive, would generate a large earnings flow for the banks and recapitalise them in a hurry. Now if any of these banks got greedy and bought 5 year notes, or for goodness sake, 10 year notes, they are badly underwater from year end prices and the outlook is becoming more grim. (Unless reality takes hold in the stock market, that those players realise there is no economic recovery, just a less rapid contraction, and that the indices retest March lows). What was expected to be a boon for the banks is now quickly becoming the source of further writeoffs.

Bankers Lament Fed “Bait and Switch:”Decry Increased Capital Requirements, Insult Geithner (my headline)from Bloomberg:”JPMorgan Chase & Co. and American Express Co. were told they need to boost common equity (to repay TARP), less than four weeks after being informed they had enough to withstand a deeper economic slump. Morgan Stanley was directed to raise more funds after already selling stock to cover its stress-test shortfall…The Fed’s demands also partly reflect the biggest three- month rally in U.S. financial shares in at least two decades, which has made it easier for banks to raise the funds….JPMorgan’s (Jamie) Dimon (read) a mock letter to Treasury Secretary Timothy Geithner:“Dear Timmy, we are happy to be able to pay back the $25 billion you lent us,” Dimon said at the 31st Annual NYU International Hospitality Industry Investment Conference. “We hope you enjoyed the experience as much as we did.”(Dimon added) “If we don’t get out of TARP, we’d be very surprised. We don’t think we should be surprised.”http://www.bloomberg.com/apps/news?pid=20601087&sid=ajQ3cx_jGULI

Mandarin above said the magic words. “Obama’s left wing cover for austerity”. The elite have no intention to institute a progressive marginal tax rate reform not topay more for capital gains and dividends. That leaves a survival of the fittest,NO ECONOMIC STABILIZERS STRATEGY. All Social Programs will be evicerated and whoever can survive will and whoever can’t can’t. This is the opposite of the European Social Democratic State. This is a Chinese model. If you are poor and show no survival skills, you are screwed. If you show survival skills, you are allowed to be exploited. AUSTERITY MEASURES that dismantle all social government spending is the objective. Civil Society will crumble. Obama was brought in to manage an austerity revolution with a smile.

MM CA is our resident genius, all other discussions are not getting to the heart of the matter. Our consumption economy is unsustainable. We had money to create a radical production program, but we gave it to the megabanks. We should have cut the megabanks out of the loop and used the money to benefit the production economy. We can’t even account for the money given to the megabanks.

FLASH: April unemployment numbers revised upwards by 50,000… How can they be off 10% or more on projections every month… and its not just unemployment numbers. its every god dam statistic they publish and report on… Do you or anyone really beleive anything these days…. You or I would be fired if we made 10% or more mistakes in our job…Oh and 2 Trillion dollar deficts for this year and next year is a pipe dream… they will say they didnt realize or estimate thier tax revenue base would decline by 20-40%… If i knew that a few months ago and definatley know that now how come the Gov’t PPT dont seem to know it? I laugh all the time these days at the ingorance of the idiots in charge and to some extent my fellow citizins for believing what Obama, Cramer, Giethner, Bernake, Dimon, Kudlow tell them/us. there is an idiot on Fox B right now stating how elated he is we only lost 530k jobs in May… I wish all 530K people would go stand outside fox studios and tell him and the idiots on Fox not to be so happy about thier misery.

Maybe the plan is for all of us to join the armed forces.

Good artice to read: http://rocktrueblood.blogspot.com/2009/06/note-to-all-key-west-realtors-who-say.htmlAlso do not miss this very good report:http://moremortgagemeltdown.com/download/pdf/T2_Partners_presentation_on_the_mortgage_crisis.pdf

Geoffrey Lean, The Independent – One billion people will go hungry around the globe next year for the first time in human history, as the international financial crisis deepens, the United Nations has told The Independent.The shocking landmark will be passed – despite a second record worldwide harvest in a row – because people are becoming too destitute to buy the food that is produced.Decades of progress in reducing hunger are being abruptly reversed, dealing a devastating blow to a pledge by world leaders eight years ago to cut it in half by 2015.Rich countries have failed to provide promised money to boost agriculture in the Third World; the financial crisis is starving developing countries of credit and driving their people into greater poverty, and food aid to the starving is expected to begin drying up next month.

CNET – In the first case of its type, a federal judge in California has ruled that police can forcibly take DNA samples, including drawing blood with a needle, from Americans who have been arrested but not convicted of a crime.U.S. Magistrate Judge Gregory Hollows ruled that a federal law allowing DNA samples upon arrest for a felony was constitutional and did not violate the Fourth Amendment’s prohibition of “unreasonable searches and seizures.”Hollows, who was appointed by President George H.W. Bush, said the procedure was no more invasive or worrisome than fingerprinting or a photograph. “The court agrees that DNA sampling is analogous to taking fingerprints as part of the routine booking process upon arrest,” he wrote, calling it “a law enforcement tool that is a technological progression from photographs and fingerprints.”

another idiot on Fox B just said “we can enjoy the inflation that is coming and make lots of money as inflation comes…” and the Fox person agreed… what fucking planet are these people on?My question is who is WE? and Why would anyone enjoy that scenario?I understand why inflation is coming, but i dont beleive for one second why it would be good for about 300 million americans, it brings misery to the nightly dinner table…

“I pledge allegiance to the flag of the United States of Hypocrisy, Coverups and Corruption, one nation under Elites…”

Elites that will bury the rest of us!! Whether we like it or not this is what we get for being passive.

Do not forget this is the same Larry Summers that was President of Harvard until he said that “…math scores of college-bound high school students was a demonstration of genetic differences in math ability in men and women…”Mr Summers was subsequently replaced by a woman.http://en.wikipedia.org/wiki/Larry_Summers

At least the idiot knows first hand what most people are going through…

Bernake “fed debt will be 70% of GDP in 2011″ its a shame almsot all Americans have no clue what that means… and he is underestimating it, i beleive we could hit 100% of GDP by then, if only to survive…

Too much spare time, Tim!

T,and brilliant.

No work, just copy and paste from an ASCII art site.http://www.asciiworld.com/-Bear-.html

uhhh, Muslim isn’t a race, dude.

It’s because of the contango (future prices higher than spot prices). If you’ve got real money or access to permanent credit, you rent a tanker, buy a load of crude at spot prices and similutaneously sell the crude in the futures market and lock in the spread. Much better than using your excess liquidity to buy Treasury Bills!Perhaps someone else can explain why this contango exists, because it has me stumpted. If I am a user of crude and want to lock in future prices (which seems to be the driving force) why don’t I just do what JPM, Phibro, Goldman et al are doing and rent the very same tankers and do the same trades? One reason, my credit isn’t good enough. I can’t borrow to fund the crude purchase and I don’t have resources sufficient to put up maintainence margin against my short in the futures market. There must be more to it but I’ve been trying to figure it out for about nine months, with not much success.

He doesn’t want to end up like Greenspan – he only has a year left before Summers replaces him. And you know Summer and friends would hang him out to dry when the S hits the fan in 2011 and beyond.

You may want to read the latest June report by Bill Gross of Pimco entitled “Staying Rich in the New Normal”. http://www.pimco.com and then “Investment Outlook” –June 2009. He discusses staying in shorter maturity debt instruments…

Genesee county- near Darien lake. Man the city is a ghost town- I used to work in downtown Buffalo about 20 years ago and it was bumper to bumper traffic getting downtown. Nowadays you could sail along on the city streets at 50mph if you could, and hardly see anyone. Buildings boarded up, windows smashed, it’s just pathetic. They keep talking about the great potential and all the good ideas to bring life back to it, but seriously I think they should plow it all under and start over- make it a suburb of Amherst which is the real city now. NO One goes downtown unless they have to now. The only draw today is Allentown and the theatre district. We haven’t felt the downturn in housing so much here because we never had a bubble since our economy was already suffering a downturn.

so that is 10 years of misery… cant say i disagree other than Dow- i beleive it will be irrevalent in anywhere from 2-5 years.

The rightwing reactionary fear of big government is misplaced fear.It is government, of any size, being controlled (guided, coerced, and limited) by the stratospherically wealthy that you must fear …because your interests are diametrically opposed to the interests of the stratospherically wealthy.Fear stratospheric wealth. It is plundering an entire planet – via usurpation of peoples’ governments.Outlaw stratospheric wealth accumulation, and deconstruct the current billionaires’ stratospheric fortunes.

“Our earth is degenerate in these latter days. There are signs that the world is speedily coming to an end. Bribery and corruption are common.”- Assyrian Clay Tablet, ca. 2800 BCImagine what the world would look like today if people had long ago learned to embrace limits on how rich and how poor people would be allowed to get. Imagine if all the people over the centuries who were starved to death or didn’t get an education had been educated and had lived to contribute to the world’s knowlege base. Can you imagine?

The Democrat and Republican parties are just the left and the right wings of the bird of prey.

Very nice post Guest. Thank you.

“To find out the true state of facts, to report them with fidelity, toapply to them strict and fixed principles of justice, humanity and law; to inform as far as possible the very conscience of nations, and to call down the judgment of the world on what is false, or base, or tyrannical, appear to me to be the first duties of those who write.”- Henry Reeve”In the progress of time, and through our own base carelessness andignorance, we have permitted the money industry to attain a political and economic influence so powerful that it has undermined the authority of the state and usurped the power of democratic government.” – Vincent Vickers”The oppressors do not perceive their monopoly of having more as aprivilege which dehumanises others and themselves” – Paolo Freire”Lost to humanity must that person be, who can view without emotion the complicated distress of this injured land. Evil tidings molest ourhabitations and wound our peace. Oh my brother! Oppression is enough to make a wise people mad!” – Elizabeth Peabody”The patience of the oppressed has always been the most inexplicable, as well as probably the most important, fact in all history.”- Author Amos Elon from The Pity of it All”Do you know that the tendrils of graft and corruption have become mighty interlacing roots so that even men who would like to be honest are tripped and trapped by them?” – Agnes Sligh Turnbell, 1888-1982, American novelist”If you do not specify and confront real issues, what you say will surely obscure them. If you do not embody controversy, what you say will be an acceptance of the drift to the coming human hell.”- C. Wright Mills, The Causes of World War III

The Bond Boys are set to pounce. if that happens and Bonds go up, stocks will crash and interest rates will rise. if interest rates rise, there will be no help coming form the consumer in terms of a consumer led recovery. the Fed and the treasury know this and are scared beyond scared as they basically are out of moves. any hint of inflation and interest rates going up and the game will be over.actually inflation has already started (gas up 35%, food up) and interest rates are creeping up. already the past 2 weeks mortgage interest rates have choked off any new mortage applications for even foreclosed housing.

Wrong. Wherever people are not prevented getting an education, population controls itself.

For Pete CA – chew on this… lol no wonder claifonia has budget probelms… i think the days of these type State jobs and pensions are over…http://www.californiapensionreform.com/calpers/

A mind full of trivia is worth….???

Don’t you mean a mindful of drivel?

Interesting … I see some folks on there I have worked with in the past …Didn’t realize UC Faculty were on CalPers, thought they were with UC Benefits, a differentsetup.

You are deluding yourself. When you get caught short, as you will, please have the integrity to post about it.

That was a particularly poignant and timely strip by Trudeau…SWK

I don’t think the Fed has to be nationalized in order to be nationally controlled. While I take the point that perhaps some degree of enhanced Congressional oversight might be useful, and we should probably do something about the revolving door between Fed and Treasury Department service and the private financial sector, I certainly don’t relish the notion of seeing even more politicization of the Fed than is already the case. I tend to believe the Fed best serves its function when it has at least some degree of autonomy from Congressional politics and private sector lobbyists.The authority of the Fed to lend money is informed by Congressional mandate. Our elected representatives in Congress can modify, curtail, or expand that authority at any time. Establishing parameters for the exercise of the Fed’s authority, if necessary or advisable, makes more sense to me than abolishing the Fed in its entirety.SWK

Good cocktail party banter.

I will post when I’m wrong. I mentioned last Wednesday’s CDS auction, the market tanked 173 points. Guess why gold, oil, and the markets are selling off today and why the dollar is up?

Jim Rogers: S&P Could Go to 50,000 (via Yahoo Tech Ticker)

It’s a bear market rally. I was going to say I don’t think S&P 500 will see new highs. But I have to quickly temper that by saying against the dollar because the S&P 500 could triple from here if they print enough money and the value of the US dollar collapses, then S&P could go to 50,000, Dow Jones can go to 1,00,000.

@MM CA,Pardon my ignorance and you may comment this already. What is your opinion on what the enormous liquidity US FedRes creates would result in? As Michelle commented and if my understanding is right, it pushes the US stock markets (and others) quite nicely.@Michelle,Is there any downside of the liquidity creation and injection from US FedRes? Or the US markets are going to sun (like SGG loves to say) propelled by the FedRes liquidity?Will appreciate if you can share your thoughts and comments on this.

Yes, X, Y and Z do exist in the market, and the market will definitely go up. You read it right. Of course, not in a straight line, but the general trend is up and will continue until such time that liquidity is drained from the market, and a catalyst would be necessary for this to occur. All the sellers have sold, now it’s time to buy.

Here is a recent take on the coming of the Apocalypse.Archetype of The Apocalypse; Divine Vengeance & Terrorism

But, but … this amounts to only $0.5 Billion a year.

LIVE! DEFY THE GODS WHO WOULD DESTROY YOU!

“Either cuts in spending or increases in taxes will be necessary to stabilize the fiscal situation,” Bernanke said in response to a question. “The Federal Reserve will not monetize the debt.”Bernanke seems to be saying that he will stop printing. Then just maybe the stocks will not go to the sun.http://www.bloomberg.com/apps/news?pid=20601103&sid=aLGYMr_g7PSg&refer=us

@Michelle,Thank you very much for your comments.@Dan,Hmm, Is what Heli (or Zimba) Ben said trustworthy? I’d hold my judgement until his deeds meet his words.

Agreed.Hopefully it is just a beginning

Rogers may have a point in that Zimbabwe had the best performing stock market, in local currency terms, for years. It was the only way to hedge against the daily debasement of the Z$ (I think they had a dollar, before a trillion dollars).

All this talk of dollar crashes and hyperinflation is for the moment bogus. The dollar amd bonds weaken and commodities rise when the market goes up. When the market goes down everything reverses. Until I see the market AND the dollar tanking at the same time as bond rates and commodities rise, deflation is firmly in control. I’m hedged either way, but for the moment just watching the show.

lest we not forget and something that seems to be getting lost in all the “green shoots” “its a rally” “we hit the lows” is Health Care. if Health Care does not get fixed there is nothing that can stop this country from langusihing in a depression for the next 10 years or more.THE WHITE HOUSEOffice of the Press SecretaryFor Immediate Release June 3, 2009TEXT OF A LETTER FROM THE PRESIDENT TOSENATOR EDWARD M. KENNEDY AND SENATOR MAX BAUCUSJune 2, 2009The Honorable Edward M. KennedyThe Honorable Max BaucusUnited States SenateWashington, D.C. 20510Dear Senator Kennedy and Senator Baucus:The meeting that we held today was very productive and I want to commend you for your leadership — and the hard work your Committees are doing on health care reform, one of the most urgent and important challenges confronting us as a Nation.In 2009, health care reform is not a luxury. It’s a necessity we cannot defer. Soaring health care costs make our current course unsustainable. It is unsustainable for our families, whose spiraling premiums and out-of-pocket expenses are pushing them into bankruptcy and forcing them to go without the checkups and prescriptions they need. It is unsustainable for businesses, forcing more and more of them to choose between keeping their doors open or covering their workers. And the ever-increasing cost of Medicare and Medicaid are among the main drivers of enormous budget deficits that are threatening our economic future.In short, the status quo is broken, and pouring money into a broken system only perpetuates its inefficiencies. Doing nothing would only put our entire health care system at risk. Without meaningful reform, one fifth of our economy is projected to be tied up in our health care system in 10 years; millions more Americans are expected to go without insurance; and outside of what they are receiving for health care, workers are projected to see their take-home pay actually fall over time.We simply cannot afford to postpone health care reform any longer. This recognition has led an unprecedented coalition to emerge on behalf of reform — hospitals, physicians, and health insurers, labor and business, Democrats and Republicans. These groups, adversaries in past efforts, are now standing as partners on the same side of this debate.At this historic juncture, we share the goal of quality, affordable health care for all Americans. But I want to stress that reform cannot mean focusing on expanded coverage alone. Indeed, without a serious, sustained effort to reduce the growth rate of health care costs, affordable health care coverage will remain out of reach. So we must attack the root causes of the inflation in health care. That means promoting the best practices, not simply the most expensive. We should ask why places like the Mayo Clinic in Minnesota, the Cleveland Clinic in Ohio, and other institutions can offer the highest quality care at costs well below the national norm. We need to learn from their successes and replicate those best practices across our country. That’s how we can achieve reform that preserves and strengthens what’s best about our health care system, while fixing what is broken.The plans you are discussing embody my core belief that Americans should have better choices for health insurance, building on the principle that if they like the coverage they have now, they can keep it, while seeing their costs lowered as our reforms take hold. But for those who don’t have such options, I agree that we should create a health insurance exchange — amore(OVER)2market where Americans can one-stop shop for a health care plan, compare benefits and prices, and choose the plan that’s best for them, in the same way that Members of Congress and their families can. None of these plans should deny coverage on the basis of a preexisting condition, and all of these plans should include an affordable basic benefit package that includes prevention, and protection against catastrophic costs. I strongly believe that Americans should have the choice of a public health insurance option operating alongside private plans. This will give them a better range of choices, make the health care market more competitive, and keep insurance companies honest.I understand the Committees are moving towards a principle of shared responsibility — making every American responsible for having health insurance coverage, and asking that employers share in the cost. I share the goal of ending lapses and gaps in coverage that make us less healthy and drive up everyone’s costs, and I am open to your ideas on shared responsibility. But I believe if we are going to make people responsible for owning health insurance, we must make health care affordable. If we do end up with a system where people are responsible for their own insurance, we need to provide a hardship waiver to exempt Americans who cannot afford it. In addition, while I believe that employers have a responsibility to support health insurance for their employees, small businesses face a number of special challenges in affording health benefits and should be exempted.Health care reform must not add to our deficits over the next 10 years — it must be at least deficit neutral and put America on a path to reducing its deficit over time. To fulfill this promise, I have set aside $635 billion in a health reserve fund as a down payment on reform. This reserve fund includes a number of proposals to cut spending by $309 billion over10 years –reducing overpayments to Medicare Advantage private insurers; strengthening Medicare and Medicaid payment accuracy by cutting waste, fraud and abuse; improving care for Medicare patients after hospitalizations; and encouraging physicians to form “accountable care organizations” to improve the quality of care for Medicare patients. The reserve fund also includes a proposal to limit the tax rate at which high-income taxpayers can take itemized deductions to 28 percent, which, together with other steps to close loopholes, would raise $326 billion over 10 years.I am committed to working with the Congress to fully offset the cost of health care reform by reducing Medicare and Medicaid spending by another $200 to $300 billion over the next 10 years, and by enacting appropriate proposals to generate additional revenues. These savings will come not only by adopting new technologies and addressing the vastly different costs of care, but from going after the key drivers of skyrocketing health care costs, including unmanaged chronic diseases, duplicated tests, and unnecessary hospital readmissions.To identify and achieve additional savings, I am also open to your ideas about giving special consideration to the recommendations of the Medicare Payment Advisory Commission (MedPAC), a commission created by a Republican Congress. Under this approach, MedPAC’s recommendations on cost reductions would be adopted unless opposed by a joint resolution of the Congress. This is similar to a process that has been used effectively by a commission charged with closing military bases, and could be a valuable tool to help achieve health care reform in a fiscally responsible way.These are some of the issues I look forward to discussing with you in greater detail in the weeks and months ahead. But this year, we must do more than discuss. We must act. The American people and America’s future demand it.I know that you have reached out to Republican colleagues, as I have, and that you have worked hard to reach a bipartisan consensus about many of these issues. I remain hopeful that many Republicans will join us in enacting this historic legislation that will lower health care costs for families, businesses, and governments, and improve the lives of millions of Americans. So, I appreciate your efforts, and look forward to working with you so that the Congress can complete health care reform by October.Sincerely,BARACK OBAMA# # #

Are you reading “10-10-10: A Life-Transforming Idea” by Suzy Welch?http://www.amazon.com/10-10-10-Life-Transforming-Idea-Suzy-Welch/dp/1416591826

GDP growth will be -3 to -6% for 2010 too…In real terms. Might be positive in nominal terms. FED and Treasury missions accomplished. Smoke and mirrors, fraud and deceit, as always. Nothing new here. Dollar has never gone up, and never will. There’s a sort of incompatibility between such an event and human behavior <g>.

- Tie two birds together. And though they may have four wings, they cannot fly.- You can’t step on the same piece of water twice.- The tadpole loses it strength.- The sword cannot cut itself.- The path and gateway have no meaning, once the objective is in site.from Circle of Iron

Hubbs,Nothing like a personal sharing to put things in perspective – thanks for sharing.The only way these compassion card carrying vote buying bleeding ass liberals have power over the people is by promising this crap. If we all face reality then they lose their power for promising REAL CHANGE. Then we all will have to grow up and learn to quit sucking on HOPIUM coated lollypops.

Michele, how long have you been managing your own money the way you are now? I am guessing not that long.

Guest @ 13:01:24I can’t address your question until you tell me what you mean by “massive criminal activity.” I don’t mean to be pedantic, but there can only be a crime when there is a specific law making some activity criminal. I can’t agree with the premise, unless by criminal you mean “immoral,” in which case I might agree with you, depending on precisely what activities you are referencing.While I appreciate the quote from Mr. Sann, the fact is that the electorate has a responsibility to hold its elected representatives accountable. If they are wrongly kowtowing to someone, be it Al Capone or members of the financial industry, it is the people who elected them that need to take charge and fix that problem.SWK

oxymoron sorry

that’s good

God’s Away On Business(Tom Waits/Kathleen Brennan 2000)I’d sell your heart to the junkman babyFor a buck, for a buckIf you’re looking for someone to pull you out of that ditchYou’re out of luck, you’re out of luckShip is sinkingThe ship is sinkingThe ship is sinkingThere’s a leak, there’s a leak in the boiler roomThe poor, the lame, the blindWho are the ones that we kept in charge?Killers, thieves and lawyersGod’s away, God’s awayGod’s away on business, businessGod’s away, God’s awayGod’s away on business, businessDigging up the dead with a shovel and a pickIt’s a job, it’s a jobBloody moon rising with a plague and a floodJoin the mob, join the mobIt’s all over, it’s all overIt’s all overThere’s a leak, there’s a leak in the boiler roomThe poor, the lame, the blindWho are the ones that we kept in charge?Killers, thieves and lawyersGod’s away, God’s awayGod’s away on business, businessGod’s away, God’s away on business, businessGodddamn there’s always such a big temptationTo be good, to be goodThere’s always free cheddar in a mousetrap, babyIt’s a deal, it’s a dealGod’s away, God’s awayGod’s away on business, businessGod’s away, God’s awayGod’s away on business, businessI narrow my eyes like a coin slot babyLet her ring, let her ringGod’s away, God’s awayGod’s away on business, businessGod’s away, God’s awayGod’s away on business, business

Chyrslar is going from producing 2 million cars to a projection of 700K in the “new” company. that is roughly 63% cut in jobs, manufacturing, employees, etc…. 63% is 63%. Demand is gone, base is gone, GM most lilely has similar numbers coming soon… and poor Ford- lol – they are looking at all this as that could be their fate too…We are a disaster as a country and every day people are getting wiped out…. GM had 550 million shares that are no worthless… If they did one thing and took over the banks right now, they could start to fix things… The greed is just too pervasive by the current gene pool in charge… sad to say I would trust the idiot poilticians more than the GREEDY GENE POOL (aka Banks, GS, CEO’s, etc..) in charge presntly

Someone should start a new web site called http://www.greedygenepool.com and allow people to post one name each that can be added to the GGP list. each name posted must have over 500 hits on google.

You are entirely in the first stage of the dying process – it’s called DENIAL.

By the time they revise the statistics, no one cares about the data being revised. It’s a good game.

Did the above on the 8 year plan – worked full-time, went to school, raised kids, paid cash for college. Still work at the same company, but worked my way up to the top, not, not a hamburger joint, either. I would’ve been better off QUITING my job, taking out student loans, and graduating in 4 years, getting sign-on bonuses, stock options, and a company house and car. Who’d a thunk?

TfT,Thank you for your kind comments, I’ve been getting eaten alive on this board.

If I told you that I manage hundreds of millions of dollars of my company’s money, you’d never believe me. You also wouldn’t believe me if I told you that we have over 20% capital.There, I finally said it.

Good info! Don’t let the naysayers (who are not billionaires either) discourage you. As someone who loves challenges and solving difficult problems, I have found that the vast majority of people are wrong much of the time and have a difficult time seeing other peoplesideas. What many do not realize is that ideas are meant to stimulate further thought and analysis. Keep sharing as there are many of us who do value your input!

For once I agree with this guy…. someone must ahve pissed him off for him to come clean liek this…Gross Says Diversify From Dollar as Deficits Surge (Update4)June 3 (Bloomberg) — Bill Gross, founder of Pacific Investment Management Co., advised holders of U.S. dollars to diversify before central banks and sovereign wealth funds ultimately do the same amid concern about surging deficits.Treasury Secretary Timothy Geithner’s plan to bring the budget back into balance won’t be successful as consumers shrink spending and the U.S. growth rate slows, Gross said in a Bloomberg Radio interview today. The budget deficit will be narrowed to “roughly” 3 percent of GDP from a projected 12.9 percent this year, Geithner said June 1.“I think he’ll fail at pulling a balanced rabbit out of a hat,” Gross said from Pimco’s headquarters in Newport Beach, California. “They are talking about — once the economy in the U.S. renormalizes — the move back toward balance or much less of a deficit. I suspect that will be hard to do.”Higher savings rates and an increase in the cost to service the national debt will drag on the U.S. economy, likely meaning “trillion-dollar deficits are here to stay,” Gross wrote in his June investment outlook posted today on the firm’s Web site.Gross, manager of the world’s biggest bond fund, said on May 21 the U.S. will “eventually” lose its AAA credit rating after Standard & Poor’s lowered its outlook on the U.K.’s AAA to “negative” from “stable” amid an escalating ratio of debt- to-gross domestic product. While U.S. marketable debt is at about 45 percent of GDP, annual deficits of 10 percent will push the amount to 100 percent within five years, a level that rating companies and markets view as a “point of no return,” he wrote.‘Years to Come’Government spending will push the budget deficit to $1.845 trillion in the year ending Sept. 30, according to the Congressional Budget Office.Federal Reserve Chairman Ben S. Bernanke said today that large U.S. budget deficits threaten financial stability and the government can’t continue indefinitely to borrow at the current rate to finance the shortfall.The U.S. growth rate “requires a government checkbook for years to come,” Gross wrote. Coupled with Medicare and Social Security entitlements, government borrowing could reach 300 percent of GDP, meaning “the Chinese and other surplus nations cannot fund the deficit even if they were fully on board,” he wrote.China, the largest U.S. creditor, with $767.9 billion of debt, has shifted purchases of Treasuries into shorter-maturity securities amid concern about unprecedented debt sales.Yield CurveGeithner, speaking yesterday in an interview in Beijing with Chinese state media outlets, said he has “found a lot of confidence” in the U.S. economy during his trip to China.Investors should position themselves in the front end of the yield curve as long-term Treasury yields likely move higher, steepening the so-called yield curve, Gross wrote.Gross reduced his holdings of government-related bonds in the $150 billion Total Return Fund in April for the first time since January, according to company data. In addition to Treasuries, the government debt category can include inflation- linked Treasuries, so-called agency debt, interest-rate derivatives and bank debt backed by the FDIC.Yields on benchmark 10-year notes climbed as high as 3.75 percent on May 28, the most since November, rising from a record low of 2.04 percent on Dec. 18. the 10-year yield dropped three basis points today to 3.59 percent today.Currency DiversificationThe dollar weakened beyond $1.43 against the euro yesterday for the first time in 2009 on bets record U.S. borrowing will undermine the greenback, prompting nations to consider alternatives to the world’s main reserve currency.Russian President Dmitry Medvedev may discuss his proposal to create a new world currency when he meets counterparts from Brazil, India and China this month, Natalya Timakova, a spokeswoman for the president, told reporters yesterday. Russia’s proposals for the Group of 20 meeting in London in April included studying a supranational currency.The U.S. currency climbed 0.9 percent to $1.4177 per euro at 11:15 a.m. in New York, from $1.4303 yesterday, in the biggest intraday advance since May 27. The dollar traded at 95.75 yen, compared with 95.76.The government has pledged $12.8 trillion to open credit markets and snap the longest U.S. economic slump since the 1930s. The Fed will buy as much as $1.75 trillion in Treasuries and housing-related debt to drive down consumer borrowing costs. That could have “inflationary implications,” Gross said.No Exit“Our expectation is the government won’t be able to exit” from those positions, Gross said in an interview on Bloomberg Radio today. The programs “will be semi-permanent positions on their balance sheets.”For all the hand-wringing over the dollar’s slide, expanding deficits and declining credit ratings, the bond market shows international demand for American financial assets is as high as ever. The Federal Reserve’s holdings of Treasuries on behalf of central banks and institutions from China to Norway rose by $68.8 billion, or 3.3 percent, in May, the third most on record, data compiled by Bloomberg show.The Total Return Fund rose 4.8 percent in 2008, beating 93 percent of its peers, data compiled by Bloomberg show. The fund has returned 1.5 percent this year, according to Pimco data.

Sad, sad, sad…End of a US eraGeneral Motors’ demise has been a long time coming. On Monday, it expired as a private, solvent company with a bankruptcy filing that embodies not just a sequence of failures by what was once the world’s largest company; not just the challenges of a car industry in crisis; but a mismanaged economic and social transformation.The basic facts of GM’s predicament are well known: the recession killed a company bled to anaemia by its incapacity to make cars people would buy. While the recession has run the whole car industry over a cliff – total capacity is 86 million vehicles a year, but annualised global sales have fallen to 56 million from 70 million in 2007 – some producers are suffering more than others. For this they have themselves to blame. GM’s primacy in the US guaranteed its global dominance after the second world war. Market power bred complacency, and GM’s US market share declined steadily from more than half to about 20 per cent.Japanese “transplants”, more efficient than the Big Three and unburdened by commitments to unions, built a lean car industry across the south. We should not lament this: median household income in Michigan is some $10,000 per year higher than in Alabama. Flint’s loss is Huntsville’s gain.Detroit’s political clout obscured this trade-off. It also kept GM alive for too long. The government should have let it file for bankruptcy earlier and limited its help to financing operations during bankruptcy to prevent a collapse of the supply chain. The government’s excessive coddling of GM has forced it to take a bloated equity stake to protect its money. The sooner it disinvests, the better; meanwhile it must shelter the business from political calculation.For some, GM’s fall is the final death knell for America’s labour aristocracy. In its heyday, unionised manufacturing supported a US blue-collar middle class with good wages and welfare benefits. But technological change has made well-paid blue-collar jobs rarer as rich economies, helped by globalisation, have shifted from industry to services.This historic change was inevitable. But its consequences could have been less painful. The government relied on large companies like GM to provide welfare benefits, and never put in place policies that could ease the post-industrial economic restructuring. Instead, the US applied the palliative of easy credit – sustaining an illusion of economic betterment for all. The illusion has now shattered – for America as well as for GM.

I agree with FEDup Michelle, your comments are really welcomed!Mark

GO AWAY. Yes, the same principle of racism are at the heart of this crap! This is an economics blog, not a Limbaugh fan club blog!Mark

Wednesday, June 3, 2009A TALE OF TWO COUNTRIES6/3/09Obsequious Ben Bernanke, appearing today before the House Budget Committee, has let loose with two whoppers of brobdingnagian proportions. First, Mr. Bernanke stated that the Fed “will not monetize” the federal budget deficit. In what world can that can be a true statement? The Fed is buying government securities at a clip not seen in our country’s history. The Fed is buying long term treasuries, apparently in an attempt, so far utterly failing, to flatten the yield curve, for the first time in years and with a degree of enthusiasm that makes the woman on the Progessive.com insurance commercials look like the picture of insouciance. By very definition, the Fed is monetizing the deficit, and doing it to a heretofore unwitnessed degree.Perhaps we can attribute even an iota of truth to Mr. Bernanke’s denial of monetizing the government’s debt by concentrating on tense, as in the Fed will not monetize the deficit, not that it has not monetized the deficit. For this attribution to be valid, however, one would have to conclude that Mr. Bernanke has been taking English lessons from Bill Clinton or is signaling a sudden policy change. The former is highly unlikely; Bernanke isn’t cool enough to hang out with Mr. Clinton, though one suspects he would like to be, hence forth the moniker I have attached to Obsequious Ben. The latter, while we can always hope, is even more unlikely.The second of Mr. Bernanke’s failed sockdolagers is that the Fed was “involved very unwillingly” in the bailouts that have characterized the Bush/Obama administration’s approach to “capitalism” and “free markets.” Unwillingly? The Fed’s balance sheet has expanded by a factor of greater than three over the last year due to the too numerous to tally bailouts in which it has involved itself and the attendant and aforementioned monetizing of the deficit. “Unwillingly?” How does Mr. Bernanke behave when engaging in an activity willingly?…..

Mark perhaps you should look in the mirror (or some of your numerous posts on matters “economic” or should I say political.Economics and politics are two sides of the same coin; just because some disagree with your politics doesn’t require you to attack, though that is the MO for many who reside in the extremes.

s,love the “sitting bull” handle, can i use aa variation of it?

Great gig if you can get it!Part of the marvels of the MSM. They do really good work!Mark

Group hug! Thanks guys, I enjoy your posts, too! At least I know your identities, rather than the 100 guests that post daily.

We can counter this by all becoming farmers! It was Henry Kissinger who once quipped “control the food and you control the people” (and this SOB is still alive and is still actively influencing worl affairs!)Mark

Well said. The trouble with Mark’s posts is that he cannot possibly know that of which he opines. For example, he continually rags that resources are limited (and implies that using them in a capitalist way is immoral), but the truth is that no one could really know this. One might as easily believe that there is a carbon (or gold, or uranium) cycle, just like there is an hydrological cycle. After all, there’s physics–the conservation of energy an all that (therefore also most likely conservation of space, conservation of time, conservation of matter, etc.). My guess is Mark never listens to an opposing point of view (prove it Mark, what did Limbaugh say today about Sotomajor?)–typical of narrow-minded ideologues. Personally I just had my world view rocked again today after googling “nanothermites” after viewingwww.911mysteries.comI’m not advocating any particular political persuasion, though I am most definitely a follower of Jesus Christ (Mark it’s a matter of faith and spiritual vision, there’s no way I would attempt to convert or prove it to you), but I would be most interested to know what the brains on this blog have to say after viewing these sites.

So I should be concerned that our President is leveraging his Muslim heritage to attempt to make peace with the people threatening to bomb us instead of marching out to obliterate them.He is untrustworthy because he misrepresents his identity? Which identity is that? His MUSLIM identity (Barak HUSSEIN Obama), or his Christian identity (as a member of Rev. Wright’s ‘racist’ congregation).So is he bad because he’s got Muslim roots, or is he bad because he’s a liberal Christian, or is he bad because he can use whichever facet works best with his audience…Or is he bad because you don’t like him and will take any excuse to justify your dislike.

This entire thread is meaningless and will be forgotten within 15 seconds of reading it.

Not so fast! Matthew 5:5Mark

If you know what’s good for you you’ll stop watching FOX! Kill your TV before it drives you insane! I did! (and, well, many would say that I’m insane, but at least I’ve got a dead TV to show for it! )Mark

Imagine this. Valerie Plame was “outed” as a CIA agent by (not Scooter Libby but) what’s ‘sname Armitage and……..that’s against the law. Now, all of a sudden because the left wants it, it’s perfectly ok to “out” the CIA operatives (by showing their pictures) because they’re waterboarding or otherwise “torturing” or “degrading” some detainee. Outing a CIA agent is still against the law, but that doesn’t matter anymore. Never mind that the whole sordid innuendo is unresolved therefore no American citizen can really know what went on. There won’t be any truth telling from any angle. That won’t stop the rhetoric, the partisanship, the emotional reaction to what the pictures might have showed, Never mind that that the whole scene might have been staged. We don’t get to see the pictures anyway, much less know their context.The point is: when are you gonna get smart about what you believe? You’re operating on insufficient information, therefore you’re not entitled to a firmly held opinion. The old saying is, “Don’t believe anything you hear and only half of what you see.” If Americans reserved that degree of skepticism for their political leaders, those politicians would have to remain on their toes, rather than their current practice of alcoholic dinner parties every night.

m,crack me up.you are clearly overqualified to be answeringany further questions on this blog. thanks for theresponse.repatriating dollars causes inflation, no? notsomething the fed ultimately wants. right now,some would be welcome, consistent with the reflationagenda.at a certain time the repatriation should be divertedsomewhere, say, africa? to avoid inflation and seedthe next bubble. no? if this fails hyperinlationensues?the aliens are hiding out there too (africa). they have a namefor them, i forgot what it is. the shape shifters.chitahuri? something like that…..anyway, ….irene, goodnight……..ps.speaking of solar flares, electrical disturbance.air france. ????

It’s a three letter word starting with “W.”But, one could hardly do worse than directing money at something that’s more valuable than $$s.Mark

I was feeling pretty alone for quite a while. Now not so much. Thanks!Mark

Yeah, and they end up consuming way more than those that aren’t institutionally educated.It’s not so much population as it is consumption that’s the problem. Yes, too many people for too few resources IS a recipe for disaster.Mark

You people haven’t stopped to think about the fact that the last thing the stratospherically wealthy want to spend their time on is to hassle with ruling those who have a lot less. Think, nimwits!

Need to change “Capitalism” to “Consumptionalism.”The most efficient way to destroy the planet.CleverMark

g,i think your response points directly tothe lack of organization expressed by asegment of the population that has seeninjustice and has been rendered impotentto address those injustices by coherentand socially accepted standards. is thisan accurate interpretation? no need toanswer, i’m sure it is correct, but feel freeto elaborate.

Try to understand economics. How ’bout we just out law health insurance altogether? That would make health care affordable immediately by definition.

But, but, but… Bush told us that the economy was fine, that it was sound!Where’s I.F. Stone?Mark

Wauseon plant to open Monday for 110-mpg car engines | Doug Pelmear says his engine more than quadruples the efficiency of the average car engine.By LARRY P. VELLEQUETTETOLEDO BLADE BUSINESS WRITER(May 30, 2009) WAUSEON – The man who drove his 20-year-old Mustang from Napoleon, Ohio, to Las Vegas and back last year on 39 gallons of fuel will open his first manufacturing facility Monday to allow others to get 110 miles per gallon.Doug Pelmear, owner of Horse Power Sales.net Inc. and Hp2G LLC, will hold an open house Monday morning in the idle 100,000-square-foot factory he has leased in Wauseon to begin manufacturing his revolutionary engine.The factory, on the Fulton Industries Inc. campus in Wauseon, will be tooled to initially turn out 20 of Mr. Pelmear’s custom engines per day with one shift of 25 workers.A Decatur, Ind., specialty car company, Revenge Designs Inc., has contracted with Mr. Pelmear to purchase 2,000 engines for use in a new vehicle it plans to unveil at the end of this year at the Los Angeles International Auto Show. The vehicle is to be called the Revenge Verde Super Car, which will use Mr. Pelmear’s 400-horsepower engine and its 500 foot-pounds of torque to travel up to 200 mph and get 110 mpg – though admittedly not at the same time.”The engine is going to be a really great partnership with the car,” explained Emily Levault, a spokesman for Revenge Design. “The idea behind this was to give people what they want while putting people back in their jobs.”Ms. Levault said the Verde will be introduced as both a left and right-hand drive, so that it can be marketed around the world. She said details of its pricing have not been released.Mr. Pelmear has said that he employs more precise tolerances and manufacturing techniques to decrease heat and energy loss and increase the efficiency of the internal combustion engine. He said he has more than quadrupled the industry average engine efficiency of about 8 percent.Mr. Pelmear’s company employs eight people, and he said he’ll “take resumes” on Monday, but won’t accept applications, for what would be his first shift of production workers. Depending on how the plant start-up goes, Mr. Pelmear said, “we’ll probably add another 25 over the next three months after that.” Mr. Pelmear did not say what workers will be paid.http://toledoblade.com/apps/pbcs.dll/article?AID=/20090530/BUSINESS03/905300338

But… why should a failed system continue? At what point does one toss in the towel?We know what the equation is, and the current system comes up with “42!”Mark

But where do you see this stopping? I’d asked this a LONG time ago (posed this general question to ALL): what happens when EVERYONE is inflating? Doesn’t it just show that it’s all too un-real, too virtual?Mark

No, life isn’t a picnic and no not everyone will be rich. Obviously you have to work to create an income. But the point of the article is that current graduates are starting that much further behind and will have to work that much harder just to catch up, never mind excel. This means that they won’t have as much disposable income to spend and they won’t be paying as much in taxes. Which then leads to a problem both with economic growth and funding the current entitlement programs. We’re already looking at two workers to every one retiree, down from the six to one ratio when Social Security was implemented, and now those two workers will have to contribute a higher percentage (thanks to diminished income) to support that one retiree. Something has to give somewhere and the solution doesn’t look to be as simple as telling recent graduates to “work harder.”

So, this has played out before, in exactly the same way? Really? Amazing how so many people know precisely how everything will work out in the future, having never experienced such a unique set of circumstances before. It must be so comforting to be so secure as to believe an unproven theory to be unequivocal fact.

Ethics and honesty could be considered “fetters.”

I like your plan the more I re-read it, SB. Let’s see…More of us get back to our own plain good senses about the virtues of moderation of consumption and moderation in general, we chop the wealth extreme at the top of the crushing heap and put it at the bottom to lessen the pressure and struggle-pain and costs on everybody, we become 21st Century better-informed, better-connected, clearer-thinking, response-able citizens active in ruling themselves like democracy says…and we don’t even starve on your plan, seeings how we get to eat pie an’ all.I’m up for all of that.

You’re not even going to attempt to rationalize away the important points brought before you? You can’t see that it’s ludicrous to give private industry all the plums and government the hamstringing, and then use that to discredit the idea of government being able to cover everyone without “rationing” (nice euphemism for with-holding!) care?You’re not going to say you think it would be a great idea to spend on healthcare instead of global military adventures?You’re just going to say I’m in denial and that’s that?Really?

I wonder if California should be entitled to federal aid considering that it is their proposition 13 which is partly responsible for their shortfalls. Get rid of that first and then ask for a handout from the feds. Can’t have your cake and eat it too.

AJ, what you are saying is the real cause behind why there is no money for social security while there are trillions for Pentagon.

The Battle for Belief: A Sociologist’s Research in 9/11 Argumentation

We are at war, and one of the most critical and dangerous frontline is not in Afghanistan, Iraq or Iran. Rather, it is the battleground within the human psyche. Individual and collective minds are waging psychological warfare in what promises to be one of the most intense struggles in American history, if not all of human history. How do we communicate the truth about the events of 9/11 to those who have been deceived by the operation and its cover-up in the media? Are logic, reason, and science enough?In the “battle for belief”, Person A offers truth demonstrating reality while Person B, knowingly or unknowingly, transmits lies and perpetuates myth. At the end of the day, the one with the most credibility wins. This much is supposed by Dr. Mark Jones, Ph.D., Assistant Professor of Sociology at Colorado College, who is embarking on a research project to study how both sides of a controversial issue communicate their ideas…

(full story at: http://www.ae911truth.org/info/61)

Finally, someone that gets it! This is why one must be cautious in relying too heavily on the last year’s SuperBowl Champion’s playbook.”So, this has played out before, in exactly the same way? Really? Amazing how so many people know precisely how everything will work out in the future, having never experienced such a unique set of circumstances before. It must be so comforting to be so secure as to believe an unproven theory to be unequivocal fact.”Uncharted territory, difficult to know precisely how things shake out, however, I continue with my guestimate that Heli Ben will continue to inflate, along with the other central banks, until the burden of debt is deflated to realistic levels.

The solution to the bond vigilantes in to restore progressive taxation at all levels so that the megarichcan pull their weight. We all know the story of Warren Buffett and his secretary. She pays more taxes than he does proportionately. The marginal rates on the rich must go up. The capital gains rate and the dividendgains rate must go up. There must be a Tobin tax typestructure. IS THIS GOING TO HAPPEN? NO. The rich own the government. SO WHAT IS GOING TO HAPPEN? There will be a MORE REGRESSIVE VALUE ADDED TAX INSTITUTEDTO OPPRESS THE MIDDLE CLASS OR WHATEVER IS LEFT OF IT.You can kiss health reform goodbye!Since we can’t raise taxes on the rich and we just GOTROYALLY LOOTED BY THE BANKS, WE HAVE NO MORE MONEY.The solution will be to dismantle all our economic stabilizers of social programs and run an AUSTERITYBUDGET for a country that is heavily unemployed and indebted. I HAVE SEEN THIS MOVIE BEFORE!!!This is the model criticized by Joseph Stiglitz as the IMF creditor collection model for underdeveloped countries. The bond vigilantes can be easily appeasedby raising taxes on the wealthy to get our country on course. Marginal rates were very high on the wealthy through times of trouble in our country. So what is the critique of this policy. The rich will take their money elsewhere in the world to avoid taxation. The wealthy are participating in this PRESENT COMMODITIESTEMPORARY BUBBLE. There must be coordinated taxation treaties to tax speculative market transactions to raise capital to defray all the BANK BAILOUTS. WHY IS NOBODY TALKING ABOUT THE SHARE SACRIFICE OF THE GLOBAL WEALTHY TO RESTORE THE BUDGETS OF THE COUNTRIESTHAT HAVE BAILED OUT THE BANKERS?We will be sold a bill of goods to save the integrity of the budget balance process by sacrifice by the lower classes.

Nope, never heard of 10-10-10 bu Suzy Welch.@MM CA – yes it will be misery. But I think USA will get through it and emerge on the other side with China almost equaling it in GDP.

Main stream media really becomes a good part of the US gigantic propaganda machine:Exhibit 1Title: Productivity increases more than expected in 1QSub-title: Productivity increases more than expected in 1Q, as layoffs rise faster than output fallsExhibit 2Title: Jobless benefit rolls fall, initial claims dip

The total jobless benefit rolls fell by 15,000 to 6.7 million, the first drop since early January. Continuing claims had set record highs every week since the week ending Jan. 24. The continuing claims data lag initial claims by one week.

When the extended unemployment benefits run out, would the continuous claims fall starting at some point??Another interesting news today: Wal-Mart says it will create 22,000 jobs in 2009

Those positions include plenty of cashiers and stock clerks, but the world’s largest retailer will also be adding store managers, pharmacists and personnel workers.

I wonder what the percentage of cashiers and stock clerks is for the 22,000 positions. But it is better than nothing, isn’t it? In the past decades, Walmartization is going on- make workers earn less so they have to make purchases at WalMart rather than make workers earn enough so they may purchase what they make.

Oh no! You have just discovered the Walmart “Master Plan of Retail Domination”. Hide your identity or Walmart may ban you from all their stores; on second thought, that may not work as eventually they may be the ONLY retailer left!

I thought there may be grain of truth in the 9/11 “truthers,” but not give it much more thought. During the election they kept screaming on street corners “The towers fell too fast!” And Bill Clinton kept shaking his finger at them saying in so many words that they were goof-balls.After seeing an architect in a local news clip, I went to ae911truth.org website. I decided to give it an honest read and went through the 563 slide, two hour presentation (I kept it in a separate tab and it took several days of on and off reading).All I have to say is Damn, the SOBs actually pulled off a Red Flag event.The reason that the truthers were yelling about the how fast the towers fell is that simple physics (even cartoon physics) says that when something falls on top of something else the else offers resistance and slows the something. But the top of the building fell as if there was nothing under it. The massive central core of 2″ thick 3ftX2ft box columns offered no resistance. And when it was over, all there was was dust and structural steal — all broken into similar 32ft sections.You may be thinking so what? Well, the what is that you have no reference point. The architects do a great job of describing how build fail and what they look like when they fail.The most important point, I guess, is how they use the scientific method to analyze the know data, the government’s explanations, and the government contractor’s explanations. Of course it does not add up and you are inexorably drawn to one conclusion — the towers and WTC7 were demolished with explosives.

“When the extended unemployment benefits run out, would the continuous claims fall starting at some point??”I think what they are really excited about is that new jobless claims haven’t exceeded the expired claims, thus a decrease in the continuous claims. But the expired claims also mean less consumer spending…

Another glaring testament as to the power of the health insurance lobbyist’s profit motives and self serving interests of our elected officials taking precedence over what the majority of health care providers and people desire. Perhaps the time will come when the public decides “it’s too late to talk” about further injustices inflicted on them by our representatives and they will forcibly be removed from office.

Dr. Roubini is waiting for the market to post a -3% day so that he can start talking bearishly without being laughed out of the room.

that would be next Wed, June 10.

Another sign of a failed political and financial system in the throes of desperation–more evidence of the force of the real economy wielding its relentless power, destroying the pillars of the false prosperity, tearing asunder the papered facade of fiat money, revealing the nothingness hidden behind the faked production, exposing the puniness of self-dealing central planners, of self-serving mice and men. In the end, the economy wins.Ozymandias | Percy Bysshe ShelleyI met a traveller from an antique landWho said: `Two vast and trunkless legs of stoneStand in the desert. Near them, on the sand,Half sunk, a shattered visage lies, whose frown,And wrinkled lip, and sneer of cold command,Tell that its sculptor well those passions readWhich yet survive, stamped on these lifeless things,The hand that mocked them and the heart that fed.And on the pedestal these words appear –”My name is Ozymandias, king of kings:Look on my works, ye Mighty, and despair!”Nothing beside remains. Round the decayOf that colossal wreck, boundless and bare,The lone and level sands stretch far away.

also data suggests that 90% of folks who lose a job during recession/depression never again make what they were making. that my friends is called wage destruction by Big business…http://www.idahostatesman.com/235/story/790098.html?storylink=omni_popular

Divide and conquer = diversity.

Right. Inflate away debt bubbles created by the imprudent/greedy PTB. Mark, Fiat currency is always virtual, as is the full faith and credit of the USD/USG. What will happen this time? Who knows? One thing for sure: it won’t be exactly like any other time.

5,115 (FIVE THOUSAND, ONE HUNDRED FIFTEEN)RETIRED California government workersreceive pensionsin excess of $100,000from CalPERS.They’re all listed here.The information below was obtained under the Freedom of Information Act from the California Public Employees Retirement System (CalPERS)… [does not include county and city government employees]This list may be be updated periodically with more pensioners as more data is obtained…Search the $100,000 Pension Club database …THE TOP 10 LIST–monthly– and–annual–retirement compensation:BRUCE MALKENHORST– 41,639.57– 499,674.84–VERNONJOAQUIN FUSTER– 24,712.99– 296,555.88– UC LOS ANGELESDONALD GERTH– 23,171.22– 278,054.64– CSU SACRAMENTOJAMES STAHL– 22,145.08– 265,740.96– L A CO SANIT #2JOHN SCHLAG– 21,300.04– 255,600.48– UC LOS ANGELESWILLIAM GARRETT– 21,228.81– 254,745.72– EL CAJONRAYMOND PATCHETT– 19,969.65– 239,635.80– CARLSBADROBERT TOONE JR– 19,412.28– 232,947.36– PALMDALEDIANNE OKI– 19,263.68– 231,164.16– STATE COMP INSCARL BORONKAY– 18,734.40– 224,812.80– METROPOLITAN WT…http://www.californiapensionreform.com/calpers/P.S. No market worries for the government retired. Says CalPERS:”CalPERS: Managing Through the Market Downturn”"The news in the financial markets can be alarming for our members, but it is important for you to know that the current credit crisis does not affect our ability to pay benefits. It is also important to note that your retirement benefits are protected by law. The pension system is designed to withstand market fluctuations…”Don’t you wish…

HI MICHELLEThat was then, now is now. The unofficial unemployment rate is like 25% today, yes, years ago you could sometimes get a fairly good job after college, today its horrifyingly bleek. Ask the recent graduates.Another thing, if you have a good paying college educated job and you’re a young adult with limited experience, remember in most cases: “Last one hired, first one laid off”. Ask an employment related attorney, he’ll agree with me.

Michelle,I have no doubts you are a smart woman, but I think your judgment is being clouded by your own agenda. As for listening to brokers, I don’t do it. I’d rather live and die by my own sword.

Have you noticed that when a state such as California runs short of money, the state employees have to take one or two days off a month without pay, but when private companies run short of money the employees have to take a 20% cut in pay…and keep working?

“The world, in my view, is changing and is shifting away from the financial types to producers of real goods, and this is going to last for several decades as it always has. This may sound strange but it always happens this way. Ten years from now, it may be farmers who will drive the Lamborghinis and the stock brokers will drive tractors or taxis at best.” Jim Rogers

From “Fund Managers can become farmers: Jim Rogers”: The Economic Times 4 Jun 2009Q: Stocks are rising even as fiscal deficit is widening. Somewhere it has to snap…A: It’s going to snap. Later this year, next year, we are going to have currency problems, maybe even a currency crisis. I don’t know with which currency – maybe with the pound sterling, maybe with the US dollar, who knows. It may be with something none of us have at the moment. When you have a currency crisis, stocks will be affected, many things will be affected. It is not sound, what’s happening out there in the world.In the 1930s, we had a huge stock market bubble which popped. And then politicians started making many mistakes. They became protectionist. They made solvent banks take over insolvent banks and then both banks failed in the end.They are doing many of the same mistakes now. What’s different this time is that we are printing huge amounts of money which they did not print at that time. So, we are going to have inflation this time…Q: The possibility of a sovereign default in the developed world could further depress sentiments. You think it’s possible?A: In 1918, the UK was the richest and the most powerful country in the world. Within one generation it was in shambles, within two-and-a-half generations it defaulted. The UK defaulted in 1970s and had to be bailed out by the IMF. Many of the countries in the developed world are in serious trouble right now.Iceland has already defaulted. I think there could be a currency crisis because of sovereign debt problems .later this year, next year or 2011. Developed nations have defaulted before. Remember the Asian crisis. It was a default of one kind or the other. It has happened before and it will happen again…Q: That naturally brings us to the debate on a new international reserve currencyA: Several countries have raised the issue once again. The US dollar is terribly flawed right now. Something has to be done to the US dollar and something will be done just as something was done about the pound sterling. After World War II, people stopped using the pound sterling and converted to the dollar for many reasons. Something’s going to be done about the dollar.We are much closer to be doing something about it or will be forced to do something about it. India was forced to change in 1991 and the world will be forced to change the currency situation in the foreseeable future.Q: There is already an underlying fear that this mountain of cash will chase assets and eventually force central banks to mop up liquidity. How do you think this would play out?A: I know they all say, ‘Don’t worry, we will reverse gears and take the excess liquidity out in time.’ I don’t believe them for a minute. No one has ever done it that way. When central bankers started trying to, it caused so much pain that they quickly reversed or have got rid of that central banker and put somebody else in.I just don’t think they could do it. That’s why I am worried about the bond market and the inflation. If all central banks do it together, that’s going to lead to higher unemployment, riots in the streets, civil unrests…http://economictimes.indiatimes.com/Opinion/Interviews/Fund-Managers-can-become-farmers-Jim-Rogers/articleshow/4610704.cms?curpg=4

PeteCA, the other day you mentioned that you began seriously studying economics only in recent years. Are there a few books you recommend for someone who has only a basic understanding of economics?

How can you say that the last one hired is always the first one laid off? I don’t hire and fire people based on tenure, rather I evaluate each employee based on attributes important to the organization as a whole.Certainly work experience factors into a hiring decision as it MAY make it easier for me to make a final decision only in cases where the candidates are closely matched. But even then I’d evaluate the type of work experience and how it may relate to the current and future needs of the organization.I can tell you I will gladly hire a college graduate with an outgoing personality and strong skills with little or no work history versus an equally educated college graduate with a bad attitude but oodles of work experience.

Lamborghinis? Farmers? Thus Rogers illustrates the ancient (but forgotten) truth that ability to make money in the markets in the past in no way gives you the ability to accurately predict anything of true worth for the future.Study some hard science Jim.

Explain please?

LOL. Lamborghini started out making tractors. Oh well, shouldn’t be surprised really.

They’ll just use all that liquidity to buy up assets at rock-bottom prices – as predicted.

Ex-Countrywide chief Angelo Mozilo charged with fraud by SEC.Yes!

Food for thought: Hey Joe did we create or save Jobs this month? Mr. President there are NO JOBS!Tomorrow will likely bring more bad news for President Barack Obama on the number one issue for voters — the economy. The Labor Department’s monthly job report will almost certainly show unemployment topping 9%, with a couple hundred thousand more jobs lost in May.It will get worse before jobs get better. Congressional Budget Director Douglas W. Elmendorf recently predicted that unemployment will continue rising into the second half of next year and peak above 10%.Mr. Obama has an ingenious approach to job losses: He describes them as job gains. For example, last week the president claimed that 150,000 jobs had been created or saved because of his stimulus package. He boasted, “And that’s just the beginning.”However, at the beginning of January, 134.3 million people were employed. At the start of May, 132.4 million Americans were working. How was Mr. Obama magically able to conjure this loss of 1.9 million jobs into an increase of 150,000 jobs?As my former White House deputy press secretary Tony Fratto points out on his blog, the Labor Department does not and cannot collect data on “jobs saved.” So the Obama administration is asking that we accept its “clairvoyant ability to estimate,” and the White House press corps has let Mr. Obama’s ludicrous claim go virtually unchallenged.Still, there are limits to Mr. Obama’s rhetorical tricks. Even he cannot turn job losses into real job gains. And he won’t be rescued by stimulus spending.Former National Economic Council Director Keith Hennessey made a persuasive case on his blog that the stimulus will be ineffective because the additional economic growth it spurs will come six to nine months later than it could have.This is partly because, as the Congressional Budget Office estimates, only $185 billion (23% of a $787 billion stimulus package) will be spent this fiscal year. The government will spend an additional $399 billion next fiscal year. The balance — $203 billion — will be spent between fiscal years 2011 and 2019, long after the economy has turned on its own power and for its own reasons. In addition, much of the stimulus that went this year for tax cuts and transfer payments has been saved, not spent. (The national savings rate went from less than 0% to about 5%.)If the Obama administration were more serious about growing the economy than just growing government, the stimulus would have been front-loaded into this fiscal year.In addition, the claim made by Team Obama that every dollar in stimulus translates into a dollar-and-a-half in growth is economic fiction. The costs of stimulus reduce future growth. No country has ever spent itself to prosperity. The price of stimulus has to be paid sometime.Any real improvement in the economy so far is more likely the result of the Federal Reserve expanding the money supply and the Fed and Treasury shoring up the financial sector.But the Fed’s actions are risky. Easy money and expansionary policies are not sustainable. We may soon be in for a bout of inflation unless the Fed soaks up much of the money it flooded into the system. The government is also likely to hamper private investment as it uses a vast amount of capital to finance its debt. And when the Fed stomps on its monetary brakes, as eventually it must, we’ll get sluggish growth.The irony for Democrats is that the Fed may hit the brakes in the run-up to the 2010 congressional elections or the 2012 presidential election.It is becoming clear that the economy is now the top issue. Mr. Obama’s presidency may well rise or fall on it. The economy will be his responsibility long before next year’s elections. Americans may give him a chance to turn things around, but voters can turn unforgiving very quickly if promised jobs don’t materialize.That’s what happened in Louisiana, where voters accepted Democrat Gov. Kathleen Blanco’s missteps before Hurricane Katrina but brutally rejected her afterward because she failed to turn the state around.Until now, the new president has benefited from public willingness to give him a honeymoon. He decided to use that grace period to push for the largest expansion of government in U.S. history and to reward political allies (see the sweetheart deals Big Labor received in the GM and Chrysler bankruptcies).The difficulty for Mr. Obama will be when the public sees where his decisions lead — higher inflation, higher interest rates, higher taxes, sluggish growth, and a jobless recovery.http://online.wsj.com/article/SB124407228244683091.html

Jobless rates rise in U.S. metro areas in AprilEl Centro, Calif., has highest unemployment rate — 26.9 percentupdated 2:56 p.m. PT, Wed., June 3, 2009WASHINGTON – Jobless rates rose in all the largest U.S. metropolitan areas for the fourth straight month in April, a trend likely to persist even as the recession eases.The Labor Department said Wednesday that unemployment in April rose from a year earlier in all 372 metropolitan areas it tracks. Indiana’s Elkhart-Goshen’s rate jumped to 17.8 percent, up 12.7 percentage points from a year ago. The Indiana region, which posted the largest increase from last year, has been pounded by layoffs in the recreational vehicle industry.The second-highest jump occurred in Bend, Ore. Its rate rose to 15.6 percent, up 9 percentage points from last year. The region of North Carolina’s Hickory-Lenoir-Morganton saw its unemployment rate rise to 14.9 percent, a gain of 8.8 percentage points from last year.Most of the regions hardest hit have suffered big layoffs in manufacturing or have been clobbered by the collapse of the housing market, economists said. Factories reduced production as businesses slashed supplies of goods amid dwindling customer demand, said Mark Vitner, economist at Wachovia.All those negative forces rippled through metropolitan areas.“Municipal governments are strapped and have cut back,” Vitner said. “Retailers have closed shop. Problems have multiplied.”

Sorry but without Jobs we are in trouble… I will continue to inform on the NO JOBS situation in this country… In addtion to the continuing loss of jobs, We also have WAGE DESTRUCTION occuring for any new jobs and even for people who still have jobs?The new ‘good’ job: 12 bucks an hourIn the Midwest, communities race to replace dwindling auto jobs with renewable energy ones, but workers will have to sacrifice on their pay.feed://rss.cnn.com/rss/money_news_economy.rssPaste this link into your favorite RSS desktop readerSee all CNNMoney.com RSS FEEDS (close) By Steve Hargreaves, CNNMoney.com staff writerLast Updated: June 4, 2009: 12:07 PM ETIron workers at the Minster Machine Company start at $17.50 an hour whether they’re making parts for the wind or auto industry.Detroit’s Youth: Stay or go?The young people of Motown have a tough choice: Go where the jobs take them or stick around Detroit and tough it out.NEW YORK (CNNMoney.com) — Massive investment in renewable energy could ultimately create 4 million manufacturing jobs. But for the workers in the bottom rung of this movement, the shift to green jobs could very well mean a pay cut of nearly 60%, a trend spreading across the entire manufacturing sector.Many of the entry-level jobs making green energy components start at $12 an hour, much less than the now extinct $28 an hour job that had allowed high school-educated workers in the auto sector to achieve middle class status.”Particularly at the lower end, these are not very good jobs,” said Philip Mattera, research director at Good Jobs First, a labor-friendly research group, also acknowledging that the renewable energy sector paid wages that were “all over the map.”Talkback: Is $12 an hour a decent wage?Americans are betting that molding steel wind turbines, slicing silicon for solar panels and making batteries for electric cars will put them back on top of the manufacturing game. The 4 million new jobs, estimated by the University of California, Berkeley, would bring back more than half of all the manufacturing jobs lost in this country since the sector’s heyday in the late 1970s.At a battery plant just outside Indianapolis, job growth could boom. The plant is owned by EnerDel, the car battery division of Ener1. Here, the company is racing to build a cost competitive battery for an all-electric car. If it gets a government loan it’s applying for, the company plans on hiring up to 3,000 people. That’s roughly what a big auto plant employs.But $12 an hour is the starting wage for a production worker.While the starting wages at EnerDel are lower than what the auto industry pays, company executives stressed salaries go up quickly as skill sets improve. They also stressed a company like EnerDel employs lots of skilled workers too, from the electrical engineers needed to design the batteries to the mechanical engineers who build the machines.A level pay scale. The diversity of jobs in the renewable energy business is one thing supporters of green manufacturing tout. They say people should look beyond the starting wages for labor when judging the industry.”I cannot think of an industry that has more diversity in wages,” said Jackie Roberts, director of sustainable technology at the Environmental Defense Fund.Plus, $12 an hour is in-line with the average wage for an electronics assembler in the Indianapolis area, according to the Labor Department.It’s a similar scene at a plant making silicon for solar panels up in Michigan. Just outside of Saginaw, an executive at Hemlock Semiconductor would only say the company paid “competitive wages.”But people in town said the non-union Hemlock plant paid around $10 an hour for unskilled production workers and $20 an hour for skilled ones.Mike Hanley, president of the local United Auto Workers union, said he hoped green manufacturing will become more unionized going forward. But he agreed that the wages at Hemlock were pretty good for the area.Not just green industry. Environmental Defense’s Roberts notes that besides new companies making things specifically for the renewable energy business, as is the case with EnerDel, there are also lots of manufacturing firms that make components for both the green and traditional industries.”There are manufacturing jobs,” she said. “They have the same wages as anyone making components for any other industry.”That’s the case in Minster, Ohio, where the Minster Machine Company turns out both parts for wind turbines as well as machines for other the auto and food processing industries.Building windmills in Rust BeltInside the company’s massive iron foundry, workers start at $17.50 and hour whether they are pouring castings for a wind turbine hub or an auto stamping machine.But the company’s president, John Winch, noted that in the long run, wages in the U.S. will probably come down as wages in the developing world come up – all part of the globalization process.”The wage scale will probably be more dependent on what the world’s wage scale is,” said Winch.Even in the auto industry, $28-an-hour is no longer the starting wage. Since 2007 the industry has had a two-tier wage system, meaning that when they start hiring again the new starting wage will be $14 an hour

Annual salaries at respective hourly rates. i would be interested in anyone who has data on what pct of workers fall into certain wage categories or what the future may look like for those who find a job or have a job. All know is that the WAGE DESTRUCTION RESET is in progress….. At what level below can someone “afford” as 250K house?2,080 $12.00 $24,960.002,080 $13.00 $27,040.002,080 $14.00 $29,120.002,080 $15.00 $31,200.002,080 $16.00 $33,280.002,080 $17.00 $35,360.002,080 $18.00 $37,440.002,080 $19.00 $39,520.002,080 $20.00 $41,600.002,080 $21.00 $43,680.002,080 $22.00 $45,760.002,080 $23.00 $47,840.002,080 $24.00 $49,920.002,080 $25.00 $52,000.002,080 $26.00 $54,080.002,080 $27.00 $56,160.002,080 $28.00 $58,240.002,080 $29.00 $60,320.002,080 $30.00 $62,400.00

How about:Try not to let your mind wander,It’s too small to be outside by itself.

There are no wage levels listed at which someone could reasonably afford a $250k house.

And, if ever there were a reason for deflation, this is it.

anyone know how many workers dont get these types of benefits today?WW / 4% W / 5% Pension Total Benefits Total Salary 401K Match Contribution Benefits And Benefits$998.40 $1,248.00 $14,246.40 $39,206.40$1,081.60 $1,352.00 $14,433.60 $41,473.60$1,164.80 $1,456.00 $14,620.80 $43,740.80$1,248.00 $1,560.00 $14,808.00 $46,008.00$1,331.20 $1,664.00 $14,995.20 $48,275.20$1,414.40 $1,768.00 $15,182.40 $50,542.40$1,497.60 $1,872.00 $15,369.60 $52,809.60$1,580.80 $1,976.00 $15,556.80 $55,076.80$1,664.00 $2,080.00 $15,744.00 $57,344.00$1,747.20 $2,184.00 $15,931.20 $59,611.20$1,830.40 $2,288.00 $16,118.40 $61,878.40$1,913.60 $2,392.00 $16,305.60 $64,145.60$1,996.80 $2,496.00 $16,492.80 $66,412.80$2,080.00 $2,600.00 $16,680.00 $68,680.00$2,163.20 $2,704.00 $16,867.20 $70,947.20$2,246.40 $2,808.00 $17,054.40 $73,214.40$2,329.60 $2,912.00 $17,241.60 $75,481.60$2,412.80 $3,016.00 $17,428.80 $77,748.80$2,496.00 $3,120.00 $17,616.00 $80,016.00

Go back to the old rule of thumb of being able to afford a house that is three times one’s annual salary. Regardless, if I made $52k I would not buy a $250k house. I don’t care how low the interest rate is.

Friends, the old times are back — bigger and better.I was talking to my friend who has negotiated a lower mortgage because he said he told the bank he wouldn’t pay. Now he is back to putting things on credit card, buying every ‘new’ thing. This recession was no recession, it was mild at best.Most people did not get very much affected. Very soon people will start finding jobs and party will continue. Because stocks have risen, spending rises which in turn benefits stocks! S&P 500 is soon going to hit 1400-1500, there will be +400K jobs every months and all will be well.The only lesson from this is that people never learn any lesson.

Bread and circusesFrom Wikipedia, the free encyclopediaJump to: navigation, searchThis article is about the phrase. For other uses, see Bread and circuses (disambiguation).”Bread and circuses” (or Bread and games) (from Latin: panem et circenses) is a metaphor for handouts and petty amusements that politicians use to gain popular support, instead of gaining it through sound policy. The phrase is invoked not only to criticize politicians, but also to criticize their supporters for giving up their civic duty.HistoryThis phrase originates in Satire X of the Roman poet Juvenal (c 200). In context, the Latin phrase panis et circenses (bread and circuses) is given as the only remaining cares of a Roman populace which has given up its birthright of political involvement. Here Juvenal displays his contempt for the declining heroism of his contemporary Romans.[1]:… Already long ago, from when we sold our vote to no man, the People have abdicated our duties; for the People who once upon a time handed out military command, high civil office, legions — everything, now restrains itself and anxiously hopes for just two things: bread and circuses… iam pridem, ex quo suffragia nulli uendimus, effudit curas; nam qui dabat olim imperium, fasces, legiones, omnia, nunc se continet atque duas tantum res anxius optat, panem et circenses.(Juvenal, Satire 10.77–81)Juvenal here makes reference to the Roman practice of providing free wheat to Roman citizens as well as costly circus games and other forms of entertainment as a means of gaining political power through populism. The Annona (grain dole) was begun under the instigation of the popularis politician Gaius Sempronius Gracchus in 123 BC; it remained an object of political contention until it was taken under the control of the Roman emperors.Spanish intellectuals between the 19th and 20th centuries complained about the similar pan y toros (“bread and bullfights”). It appears similarly in Russian as хлеба и зрелищ (“bread and spectacle”).Aldous Huxley used the phrase in Brave New World Revisited as an example of one of the ideas he used as a theme in Brave New World.The song “Panis et Circenses,” written by Gilberto Gil and Caetano Veloso and performed by Os Mutantes, is considered a manifesto of the Tropicalia music and art movement, as is the compilation album that shares its name..(Tom Waits/K. Brennan)In The ColosseumNow women all control their menWith razors and with wristsAnd the princess squeezes grape juiceOn a torrid bloody kissWhat will you be wearing thereThe lion or the raven hair?The flesh will all be tearingBut the tail will be my ownIn the Colosseum, in the ColosseumIn the Colosseum tonight. 2 xThis one’s for the balconyAnd this one’s for the floorAs the senators decapitateThe Presidential WhoreThe bald headed senatorsAre splashing in the bloodThe dogs are having someoneWho is screaming in the mudIn the Colosseum, in the ColosseumIn the Colosseum tonight. 2 xNow it’s raining and it’s pouringOn the pillaging and goringThe constable is swingingFrom the chainsFor the dead there is no storyNo memory no blameTheir families shout blue murderBut tomorrow it’s the sameIn the Colosseum, in the ColosseumIn the Colosseum tonight.In the Colosseum, call ‘em as they see ‘emIn the Colosseum tonight.A slowly acting poisonWill be given to the favorite oneThe dark horse will bring gloryTo the jailer and his menIt’s always much more sportingWhen there’s families in the pitAnd the madness of the crowdIs given epileptic fitIn the Colosseum, in the ColosseumIn the Colosseum tonight.In the Colosseum, call ‘em as they see ‘emIn the Colosseum tonight.No justice here, no libertyNo reason, no blameThere’s no cause to taint the sweetest taste of bloodAnd greetings from the nationAs we shake the hands of timeThey’re taking their ovationThe vultures stay behindIn the Colosseum, in the ColosseumIn the Colosseum tonight. 2x.In the Colosseum tonightIn the Colosseum tonight.

No short-haired yellow-bellied son of Tricky Dick is gonna Mother Hubbard soft-soap me with just a pocketful of hope.–John Lennon

g,bitter sweet. orsad and beautiful.

You’re on a higher plane, blindly. Go to the head of the class. Chignos, pay attention.

http://www.militaryindustrialcomplex.com/.RECENT updated M-F after 5PM ETThere were 9 publicly-reported Defense Contracts listed [ TODAY ] totaling $387,413,784.DAY PRIORThere were 16 publicly-reported Defense Contract listed [ YESTERDAY ] totaling $2,377,559,659.THIS WEEK33 publicly-reported Defense Contracts are listed This Week totaling $3,164,732,822.LAST WEEK54 publicly-reported Defense Contracts were listed Last Week totaling $2,918,362,924.

and they all need a bailout…. every day..Corporations, Companies and FirmsContracts grouped by company name.If on a PC, use Cntrl+F to find a company name faster..• 3-D Engineering CorporationA• A & H Contractors, Incorporated• A1 Signal Research, Incorporated• AAI Corporation• ACC Construction• Accenture LLP• Accenture Nation Security Systems LLC• Accenture National Services LLC, Incorporated• Acepex Management Corporation• Actel Corporation• ActioNet, Incorporated• Adaptive Methods, Incorporated• ADI Limited• Addx• AECOM Government Services• Aeroflex Corporation• Aerojet General Corporation (ALL)• Aerojet General Corporation, Aerojet Propulsion Division• Aerospace Testing Alliance• AEY, Incorporated• Advanced Acoustics Concepts, Incorporated• Advanced American Construction, Incorporated• Advanced Systems Development, Incorporated• Aero Company• Aeroflex Corporation• Aerojet-General Corporation• Aerospace Testing Alliance (ATA)• AeroVironment Corporation• AGE Refining, Incorporated• AGVIQ/CH2M HILL Constructors, incorporated• Air BP (Epic Aviation)• Air Products and Chemical, Incorporated• Aircraft Braking Systems• Akima Construction LLC• Akima Facilities Management LLC• Alaska Aerospace Development Corporation of Anchorage• Alaska Native Technologies, Incorporated LLC• Alaska Structures, Incorporated• Alaska Tent and Tarp• ALCOA, Incorporated• Alion Science and Technology Corporation• Alon USA LP• Alloy Surfaces Company• Allen Wright Enterprises, Incorporated• Alliance Aviation Service• Alliant Ammunition and Powder Company LLC• Alliant Lake City Small Caliber Ammunition Company, LLC• Alliant Techsystems, Incorporated• Alliant Techsystems, Incorporated, Integrated Systems Division• Allison Transmission• Aleut Facilities Support Services LLC• Alnylam Pharmaceuticals, Incorporated• Alon USA LP• Alton Science and Technology• AM General LLC• AM General SPLO• AMEC Earth and Environmental, Incorporated• American Apparel, Incorporated• American Auto Logistics LP• American Electronic Warfare Associates• American Material Handling, Incorporated• American Medical Depot• American Security Programs, Incorporated• Amerda Hess Corporation• AmeriQual Group, LLC• American Apparel, Incorporated• American Bridge Company• American Infrastructure• American Ordnance LLC• American Roll-On Roll-Off Carriers• American Society for Engineering Education• AmerisourceBergen Drug Corporation• Amherst Systems, Incorporated• AMPAC-ISP Corporation• AMSEC LLC• Analysis Group LLC, The• Anchor Industries• Andalusia-Opp Airport Authority• Alliance Aviation Service• Alutiiq International Solutions LLC• APAC-SOUTHEAST, Incorporated• Applied Engineering Management Corporation• Applied Research Laboratories at the University of Texas• Aqua-Chem• AQuate Corporation• Archer Western Contractors and LTD• Archer Western Contractors and LTD / Butt Construction Company, Incorporated• ARCTEC Ala• Arriba Corporation• ARINC Engineering Services LLC• Army Armaments, Incorporated• Arrowhead Global Solutions• ARGONST• ARINC, Incorporated• Armor Holdings• Armorworks• Armtec Countermeasures Company• Army Armaments• Arnold Defense and Electronics• ASTAR Air Cargo• AT&T Corporation• AT&T Government Markets• ATK (ALL)• ATK Federal Cartridge Company• ATK Launch Systems• ATK Space Systems, Incorporated• ATK Tactical Systems• Atlantic Contingency Constructors LLC• Atlantic Marine Florida, LLC• Atlantic Microwave• ATSI LTD• Augusta Systems• Automation Precision Technology LLC• Autometric• Aurora Flight Sciences• Avaya, Incorporated DBA Avaya Communications• AVI BioPharma• Avon Protection Systems, IncorporatedB• B & K Construction Company, Incorporated• Babcock Construction Company LLC• Babington Enterprises, Incorporated• BAe / Schroth Safety Products Corporation• BAe Systems (ALL)• BAe Systems, Advanced Technologies• BAe Systems Advanced Information Technologies• BAe Systems Analytical Solutions• BAe Systems, Armament Systems Division• BAe Systems and Armaments LP Armament Systems Division• BAe Systems Applied Technologies, Incorporated• BAe Systems Australia Limited• BAe Systems Electronic Intelligence Support• BAe Systems, Ground Systems Division• BAe Systems Information and Electronics• BAe Systems Information and Electronic Systems Integration• BAe Systems Information and Electronic Systems Integrated• BAe Systems Land and Armaments• BAe Systems Land and Armaments Limited Partnership, Armament Systems Division• BAe Systems Land and Armaments LP, Ground Systems Division• BAe Systems, Norfolk Ship Repair• BAe Systems Ordnance Systems, Incorporated• BAe Systems San Diego Ship Repair, Incorporated• BAe Systems San Francisco Ship Repair• BAe Systems Technical Services• BAe Systems Technologies, Incorporated• BAe Systems Technology Solutions and Services, Incorporated• Bahrain Maritime and Mercantile International• Ball Aerospace & Technologies Corporation• Base-X Expedition Shelters• Basic Contracting Services, Incorporated• Basler Electric• Bath Iron Works• Battelle Memorial Institute• Battery Specialties, Incorporated• Bay Electric Company, Incorporated• BBIX• BBL Carlton, Incorporated• BBN Technologies Corporation• BCP International Limited• B E Meyers and Company, Incorporated• BE&K Government Group, Incorporated• Bean Stuyvesant LLC• BearingPoint, Incorporated• Beaufort-Jasper Water and Sewer Authority (BJWSA)• Bechtel Plant Machinery, Incorporated• Bell-Boeing Joint Program Office, The• Bell-Boeing Tilt Rotor Team• Bell Helicopter Textron, Incorporated• Belonger / Blinderman Joint Venture LLC• Benchmark Contracting, Incorporated• Benham Constructors• Benson Medical Instruments Company• Bergen Brunswig Drug Company, Incorporated• Bethel Industries, Incorporated• Bette and Craig LLC• Bickerstaff Brothers, Incorporated• Bindley Western Drug Company• BioEngineering / ARCADIS LLC• Biscayne Contractors, Incorporated• BJK Solutions, Incorporated• BKA Petroleum Company dba Leemon Oil Company, Incorporated• BL Harbert International LLC• Black and Veatch Special Projects Corporation• Blackbird Technologies, Incorporated• BMI Defense Systems, Incorporated• Boeing Aerospace Corporation• Boeing Aerospace Operations, Incorporated• Boeing Company, The (ALL)• Boeing Corporation, Expendable Launch Systems• Boeing Helicopter• Boeing Satellite Systems, Incorporated• Boeing Wichita Development and Mod Center• BOH Environmental LLC• Booz Allen Hamilton, Incorporated• Boro Construction• Bowhead Manufacturing, Incorporated• Brechbill and Helman Construction Company, Incorporated• BREMCOR• Bremen Bowdon• Bristol Design Build Services LLC• Bristol Environmental and Engineering Services Corporation• Browning Construction Company Ltd• BTP Systems LLC• Bucktown Contractor and Company, Incorporated• BUCON, Incorporated, Butler Construction• Burlington Apparel Fabrics• Burlington Apparel Fabrics Division of Burlington Industries LLC• Bushmaster Firearms International LLC• Business Technology and Solutions, Incorporated• Butt Construction Company, IncorporatedC• C2 Technologies• C A Carey Corporation• CACI, Incorporated (ALL)• CACI Dynamic Systems, Incorporated• CACI Systems, Incorporated• Caddell Construction Company, Incorporated• Caddell Corporation Company, Incorporated• Caddell Yates• CADDO and Wolverine Joint Venture• Calnet, Incorporated• Calumet Sales Company, Incorporated• Canadian Commercial Corporation, General Dynamics Land Systems Canada• Chamberlain Manufacturing Corporation• Caman / Strickland• Camber Corporation• Camel Manufacturing Company• Campbellsville Apparel Company• Canadian Commercial Corporation• Capco, Incorporated• CAPPS Shoe Company• Caravan Trading Company• Cardinal Health, Incorporated• Cardinal Health 200, Incorporated• Carley Corporation• Carl Zeiss Optronics• Carter Industries, Incorporated• CAS, Incorporated• Cascade General, Incorporated• Castrol Marine Americas• Caterpillar Defense and Federal Products• Caterpillar, Incorporated (ALL)• CBZG Design Builders LLC• CDM Constructors, Incorporated• Celina Tent, Incorporated• C E Niehoff and Company• C E Niehoff and AMP Company• Ceradyne, Incorporated• Ceres Caribe, Incorporated• Cessna Aircraft Company• CH2M Hill, Incorporated• CH2M Hill and VT Griffin Joint Venture• Champion Energy Services LLC• Chancellor and Son, Incorporated• Charles Stark Draper Laboratory, The• Charles Stark Draper Laboratory, Incorporated• Charpie-Sollitt Joint Venture• Chenega Federal Systems, LLC• Chesapeake Science Corporation• Chesapeake Sciences Corporation• Chiliad Publishing, Incorporated• Chugach Government Services, Incorporated• Chrysler International Corporation• City of Chicopee, Incorporated• Cityon Systems, Incorporated• Civil Air Patrol, Incorporated• CJW Construction, Incorporated• Clark / Balfour Beatty NGA• Clark / Hunt, Joint Venture• CM Technologies Corporation• CNI Aviation LLC• Coakley & Williams Construction, Incorporated• Coastal Pacific Food Distributors• Cockett Marine• Coffman Specialties, Incorporated• College of American Pathologists• Colsa Corporation• Colt Defense LLC• Columbia Research Corporation• Colville Tribal Services Corporation• Communications and Power Industries, Traveling Wave Technology• Compass Systems, Incorporated• Complex Solutions, Incorporated• Computer Science Corporation• Computer Sciences Parson, LLC• Computer Sciences Raytheon• Comtech Mobile Datacom Corporation• Communication Technologies, Incorporated• Conax Florida Corporation• Conoco, Incorporated• ConocoPhillips• Constellation New Energy, Incorporated• Container Machinery, Incorporated• Conti Environment and Infrastructure, Incorporated• Contingency Response Services LLC• Contrack international, Incorporated• Core Tech International Corporation• Carothers Construction, Incorporated• Cottrell Contracting Corporation• Cox Construction Company• CP of Bozeman, Incorporated• Creative Times, Incorporated• Crowley Petroleum Distribution• Crown Roofing Services, Incorporated• CSC Applied Technologies LLC• CSI Armoring• CSS Global• Cubic Applications, Incorporated• Cummins, Incorporated• Curtis Wright Controls• Cutter Aviation, Incorporated• Cytyc CorporationD• Daniels and Daniels Construction Company, Incorporated• Daimler Trucks North America LLC• Daisy Concrete, Incorporated• Dakota Drug, Incorporated• Data Link Solutions• Data Link Solutions Limited Liability Company• Dayton Power and Light Energy Resources• DCS Corporation• Delek Refining LTD• Dell Marketing LP• Del-Jen, Incorporated• Delek Refining LTD• Delta Airlines• Delta Western, Incorporated• DeRossi and Son Company• Detyens Shipyards Incorporated• Dick Anderson Construction, Incorporated• Digital Receiver Technology, Incorporated• Donjon Marine Company Incorporated• DG21• DGM21 LLC• DHS Systems LLC• Dillon Aero, Incorporated• DJ Manufacturing Corporation• DME Corporation• DMJM / 3DI• DMJM/EDI• DMS Pharmaceutical Group, Incorporated• Don Jones Construction Company• DOSS Aviation, Incorporated• DRS (ALL)• DRS C3 Systems LLC• DRS Sensors and Targeting Systems• DRS Sensors and Targeting Systems, Incorporated, Infrared Technology Division• DRS Sustainment Systems, Incorporated• DRS Test & Energy Management, Incorporated• DS2• DTM Corporation• DTS Aviation Services, Incorporated• Ducopak• Dutch Valley• Dynamic Flowform Corporation• DynCorp International, LLC• DynCorp Technical LLC• DZSP 21 LLCE• EA Engineering, Science and Technology, Incorporated• EA Industries, Incorporated• EADS North American Defense• Eagan McAllister, Incorporated• Earl Industries LLC• Earle Industries• East Coast Fruit Company• Eastern GCR LLC JV• Ebrex Food Services Sarl• ECI Construction, Incorporated• EDO (ALL)• EDO Communications and Countermeasures Systems• EDO Corporation• EDO Corporation, Defense Systems• EDO MTECH, Incorporated• EDO Technical Services Operations• EFW, Incorporated• EG&G Technical Services, Incorporated• E. I. du Pont de Nemours and Company• El Concorde LLC• Electric Boat Corporation• Electro Mechanical Corporation• Electro-Methods, Incorporated• EMC2 Corporation• EMCOR Facilities Services• Emerald Coast Utility Authority• Emerson Construction Company, Incorporated• Engineering Design Technologies, Incorporated• Engineered Fabrics Corporation• Engineering Management Concepts of Camarillo• Ensign-Bickford Aerospace and Defense Company• Entereza Network Solution, Incorporated• Enterprise Engineering, Incorporated• Entwistle Company• Envision• Envisioneering• EOD Technology, Incorporated• Epic Aviation dba Air BP• Equilon Enterprises• Esterline Armtec Defense, Incorporated• eVenture Technologies LLC• Everts Air Fuel• EWA Government Systems, Incorporated• Exxon Mobil Fuels Marketing CompanyF• Facchina Construction Company, Incorporated• FCI Constructors, Incorporated• Facilities Support Services LLC• F-E Contracting, Incorporated• Federal Cartridge Company• Federal Express (FedEx) Corporation• Federal Express Charter Programs Team Arrangement• Fisher Scientific Company LLC• FGM, Incorporated• Flight Safety Services Corporation• Florida Keys Aqueduct Authority• Force 3, Incorporated• Force Protection Industries, Incorporated• ForceX, Incorporated• Fordice Construction Company• Forrester Construction Company• Forward Slope, Incorporated• Foster-Miller, Incorporated• Fox Apparel• FLIR Services, Incorporated• FMC Technologies (ALL)• FMC Technologies Airport Division• FMC Technologies, Incorporated, Jetway Systems Division• FMW Composite Systems, Incorporated• FN Manufacturing, Incorporated• FN Manufacturing LLC• Frank Gargiulo and Son, Incorporated• Frawner Corporation• Freightliner, LLC• FWH LLCG• Gary-Williams Energy Corporation• Gaver Technologies, Incorporated dba GTI Federal• Genco Infrastructure Solutions• General Atomics (ALL)• General Atomics Aeronautical System• General Construction Company• General Dynamics (ALL)• General Dynamics Advanced Information Systems, Incorporated• General Dynamics Armament and Technical Products, Incorporated• General Dynamics C4 Systems• General Dynamics Electric Boat Corporation• General Dynamics Information Technology• General Dynamics Land Systems, Incorporated• General Dynamics Land Systems – Canada Corporation• General Dynamics Land Systems, General Dynamics Amphibious Systems• General Dynamics. National Steel and Shipbuilding Company• General Dynamcs Ordnance and Tactical Systems, Incorporated• General Electric Aviation• General Electric Company (ALL)• General Electric Company Aircraft Engines• General Electric Company, Aircraft Engines Business Group• General Electric Engineering Services, Incorporated• General Electric Transportation Aircraft Engines• General Industries• General Injectables & Vaccines• General Motors General Dynamics Land Systems Defense Group, LLC• General Purpose Vehicles LLC• Gichner Shelter Systems• Golden Manufacturing Company, Incorporated• Goodrich Corporation• Goodrich Corporation Group Goodrich Aerostructures• GovConnections, Incorporated• Global Fleet Sales, Incorporated• Global Ground Support LLC• Global Investment Recovery• Global Language Systems LLC• Global PCCI• Global Strategies Group• Global Technical Systems• Globe Trailer Manufacturing, Incorporated• GM GDLS Defense Group LLC• Granite Construction Company• Graybar Electric Company• Great Eastern Group, Incorporated• Great Lakes Dredge & Dock Company• GrimmerSchmidt Compressors LLC• Grip Pod Systems LLC• Grunley Walsh US LLC• GSC Construction, Incorporated• GTA Containers, Incorporated• GTI Federal• Guam Industrial Services, Incorporated• Gulfstream Aerospace Corporation• Gyrocam Systems LLCH• H Koch and Sons Company• Halbert Construction Company, Incorporated• Hamps Construction, LLC• Harbor Offshore, Incorporated• Harkins Builders, Incorporated• Harmonia, Incorporated• Harper Construction Company, Incorporated• Harris Corporation• Harris Corporation RF Communications• Harry Pepper and Associates, Incorporated• Haskell Company• HATCO Corporation• Hawaiian Dredging Construction Company, Incorporated• Hawker Beechcraft Corporation• Hawkeye Glove Mfg• Hawthorne Services, Incorporated• Hazard Protection Systems, Incorporated• Healy Tibbitts Builders, Incorporated• Heil Trailer International• Helber Hastert and Fee Planners, Incorporated• Henry M Jackson Foundation for the Advancement of Military Medicines• Henry Schein, Incorporated• Hensel Phelps Construction Company• Hermes Consolidated, Incorporated• Hess Corporation• Hewlett-Packard Company• Hightower Construction Company, Incorporated• HITT Contracting, Incorporated• Hoffman Construction of Washington• Holston Defense Corporation• Honeywell (ALL)• Honeywell International, Incorporated• Honeywell Incorporated, Defense and Space Electronic Systems• Honeywell Technology Solutions, Incorporated• Hontek Corporation• Hood Technology Corporation• Horizon Lines LLC• Horus Vision LLC• Hourigan Construction Corporation• HRL Laboratories• Hummingbird Aviation LLC• Hunt Building Company LTD• Hunt Refining Company• Husky Marketing and Supply Company• Hutchinson Industries• Hydraulics International, Incorporated• Hydroid LLCI• IAP World Services, Incorporated• IBIS TEK• Icaro Diecisiete LTDA• ICON Consulting Group, Incorporated• I E Pacific, Incorporated• IMIA LLC• Imperial Sales Company• IMT Defense Corporation• Inglett and Stubbs International• Inlet Petroleum Company• InnovaSystems International LLC• Innovative Scientific Solutions, Incorporated• Innovative Technical Solutions, Incorporated• Insight Environmental Engineering and Construction, Incorporated• Insight Technology, Incorporated• Integral Systems, Incorporated• Integrity Applications, Incorporated• Integrys Energy Services, Incorporated• Intelesis Technologies Corporation• International Business Machines Corporation• International Development and Resources, Incorporated• International Military and Government LLC• International Oil Trading Company• International Resources, Incorporated• International Truck and Engine Corporation• Interstate Electronics Corporation• Interstate Storage and Pipeline Corporation• IntraLase Corporation• Ionatron• IsoBunkers LLC• ITT Corporation, Advanced Engineering and Services• ITT Corporation, Aerospace Communications Division• ITT Industries, Incorporated• ITT Industries Systems Division• ITT Night VisionJ• J & J Contractors• Jacobs Facilities, Incorporated• Jacobs Technology, Incorporated• Jacobs / Tetra Tech• Jahn Corporation• James River Solutions• JCB, Incorporated• JD Abrams LLP• Jianas Brothers Packaging Company• JE McAmis• J.I. Garcia Construction, Incorporated• JLG Industries, Incorporated• J M Waller Associates, Incorporated• JMR Construction Corporation• John C Grimberg Company, Incorporated• John Deere Construction and Forrestry Corporation, The• John Deere Construction Retails Sales• Johns Hopkins University, Applied Physics Laboratory, Laurel, MD• Johnson Outdoors• Jordon-BE & K Federal GroupK• Kalmar RT Center LLC• Kalyn Siebert, Incorporated• Kaman Dayron, Incorporated• Kellogg Brown & Root Services• Kentucky Department for the Blind• Kepler Research, Incorporated• Kidde Dual Spectrum• Kidde Technologies, Incorporated• Kiewet Federal Group, Incorporated• Kiewit Pacific Company• Kiewit-General a Joint Venture• Kilgore Flares Company, LLC• King Fisher Marine Service LP• Kitware, Incorporated• KL House Construction Company, Incorporated• KOO Construction, Incorporated• Kollmorgen Corporation, Electro-Optical Division• Kongsberg Defense• Korte Company, The• Kovatch Corporation• Knights Armament Company• Krempp Lumber Company, TheL• L-3 Combat Propulsion Systems• L-3 Communications Cincinnati Electronics• L-3 Communications Corporation (ALL)• L-3 Communications Corporation, Communications Systems West• L-3 Communications Corporation, Integrated Systems Joint Operations• L-3 Communications TItan Corporation, Intelligence Systems Division• L-3 Communications Corporation, Link Simulation and Training• L-3 Communications Electron Technologies, Incorporated• L-3 Communications, Linkabit Division• L-3 Communications System West• L-3 Communications Titan Corporation• L-3 Communications Vertex Aerospace LLC• L-3 Services, Incorporated• L-3 Services, Incorporated, Unidyne Division• L-3 Titan Corporation• LABATT Food Service, Incorporated• Lake Moultrie Construction, Incorporated• Lakeshore Engineering Services, Incorporated• Lawman Heating and Cooling, Incorporated• Lean Quest, LLC• Lear Siegler Services, Incorporated• Lee Escher Oil Company, Incorporated• Leemon Oil Company, Incorporated• Lincoln Public Schools• LINXX Security Services• Lion Vallen Limited Partnership• Litton Systems, Incorporated• Lobar, Incorporated• Lockheed Martin Aeronautics Global Sustainment• Lockheed Martin Aircraft and Logistics• Lockheed Martin Company, Lockheed Martin Aeronautical Systems• Lockheed Martin Corporation (ALL)• Lockheed Martin Corporation, Lockheed Martin Aeronautical Systems Company• Lockheed Martin Corporation, Lockheed Martin Simulator, Training and Support• Lockheed Martin Corporation, Lockheed Martin Systems Integration• Lockheed Martin Corporation, Naval Electronics and Surveillance Division• Lockheed Martin Corporation, Space Systems Company• Lockheed Martin Corporation, Training Systems, Sensors• Lockheed Martin Integrated Defense Systems• Lockheed Martin Integrated Systems and Solutions• Lockheed Martin Maritime Systems and Sensors• Lockheed Martin Missile and Fire Control• Lockheed Martin MS2 Division• Lockheed Martin Services, Incorporated• Lockheed Martin Space Systems Corporation• Lockheed Martin Systems Integration• LOM• Long Beach• Longbow LLC• Longbow Liability Company• LLC International Truck Body• Lowry Computer Products, Incorporated• LPI Technical Services• LTM, Incorporated• Lynden Air Cargo LLCM• M2 Technologies, Incorporated• M7 Aerospace• M & S Foods Ltd Company• M/A-Com, Incorporated• MacAulay-Brown, Incorporated• M A Mortenson Company, Incorporated• Mabey Bridge and Shore, Incorporated• Machining Technologies• MacGREGOR USA, Incorporated• Macquarie Aviation North America 2, Incorporated Atlantic Gulfport Division• Macaulay-Brown, Incorporated• MACRO-Z Technology Company• Maine Secure Composites LLC• Management Consulting, Incorporated• MAN Diesel LTD• Manson Construction Company• ManTech Enterprise Integration Center, Advanced Systems International, Incorporated• ManTech Systems Engineering Corporation• Manufacturing Technology, Incorporated• Marine Hydraulics International• Marinette Marine Corporation• Mark G Miller, Incorporated• Martin Construction, Incorporated• Martin Electronics, Incorporated• Mason & Hanger Corporation• Matson Navigation Company, Incorporated• Maytag Aircraft Corporation• Materials Sciences Corporation• Maxim Systems, Incorporated• MBDA, Incorporated• M.C. Dean, Incorporated• McDonnell Douglas Corporation (ALL)• McDonnell Douglas Helicopter Company• McDonnell Douglas Helicopter Corporation• McGoldrick Construction Services Corporation• McKesson Corporation• McLaughlin Research Corporation• McLean Contracting Company• MedImmune Shepherdsville• Medtronic Emergency Response Systems• Melwood Horticultural Training Center, Incorporated• Menlo Worldwide Government Services, LLC• Meridian Airport Authority dba Meridian Aviation• Merlin International, Incorporated• Metal USA i-Solutions• Miami Air International, Incorporated• Michelin Aircraft Tire Company, LLC• Michelin North America, Incorporated• Microelectronics Advanced Research Corporation• MidAmerican Energy Company• Midwest Research Institute• Military Systems Group, Incorporated• Miller Watts Constructors-Pave Tech, A Joint Venture• Minacorp Ltd• Miramar Construction, Incorporated• Misener Construction, Incorporated• Mississippi Limestone Corporation• Mitchell Brothers, Incorporated• MITRE Corporation• MKI Systems• MMI – Federal Marketing Service Corporation• Montana Refining Company, Incorporated• Montgomery Watson Harza, MWH Constructors, Incorporated• Morgan Stanley Capital Group, Incorporated• Motorola, Incorporated• MPC Containment Systems Ltd• MPRI, Incorporated• M.R. Pittman Group LLC• MTU DetroitDiesel, Incorporated• Multinational Logistic Services Limited• Murray Air, Incorporated• MW Builders of Texas, Incorporated• Mykotronx, IncorporatedN• Nacre AS• Nakaya Construction LLC• Nan, Incorporated• Nan, Incorporated dba Ocean House Builders• Nana Pacific LLC• National Steel and Shipping Company• Navajo Refining Company• Naval Automation Group• NAVFAC• Navistar Defense LLC• NAVMAR Applied Sciences• NDTS Aviation Services, Incorporated• NES Government Services, Incorporated• New Mexico Technology Group, LLC• Newport News Shipbuilding• New South Construction Company• Niking Corporation• Nineteenth HFC Leasing Corporation• Norfolk Dredging Company• North American Rescue Product, Incorporated• North Island Corporation / Centennial Contractors Enterprises, Incorporated• Northeast Maryland Waste Disposal Authority• Northrop Grumman Company, Electro-Optical Systems• Northrop Grumman Corporation (ALL)• Northrop Grumman Electronic Systems• Northrop Grumman Corporation Electronic-Marine Systems• Northrop Grumman Defense Mission Systems, Incorporated• Northrop Grumman Information Technology• Northrop Grumman Mission Systems• Northrop Grumman Mission Systems / Electromagnetic Systems• Northrop Grumman Newport News• Northrop Grumman PRB Systems• Northrop Grumman Ship Systems• Northrop Grumman Space and Mission Systems Corporation, Mission Systems, Missile Defense Division• Northrop Grumman Systems Corporation• Northrop Grumman Systems Corporation, Electronics Sensors Systems Section• Northrop Grumman Systems Corporation, Integrated Systems Sector• Northrop Grumman Systems Corporation, Integrated Systems Western Region• Northrop Grumman Systems Corporation, Integrated Systems Air Combat Systems• Northrop Grumman Systems Corporation, Navigation Systems Division• Northrop Grumman Technical Services, Incorporated• Northrop Grumman Technical Services Sector• Northrop Grumman XonTech Systems, Incorporated• Northwest Florida Facilities Management, Incorporated• Northwest McGrath JV LLC• Nova Group, Incorporated• Nueces Electric CooperativeO• OAK Group, Incorporated, The• OCCI, Incorporated• Ocean House Builders• Ocean Systems Engineering Corporation• Oceaneering International, Incorporated (ALL)• Oceaneering International, Incorporated, Marine Services Division• Octagon Process, Incorporated• Odebrecht Construction, Incorporated• Odyssey International• O’Gara Hess and Eisenhardt• Okland Construction Company, Incorporated• Oldenburg Group, Incorporated• Olin / Winchester• Omega Aerial Refueling Services, Incorporated• Onyx of Alexandria, Incorporated dba The Onyx Group• Optics 1, Incorporated• Optical Systems Technology, Incorporated• Osborne Construction Company• Oshkosh Corporation (ALL)• Oshkosh Truck Corporation• Oracle Corporation• Orbital Sciences Corporation• Orbital Sciences Corporation, Launch Systems Group• Owens and MinorP• P & S Construction, Incorporated• Pacific Consolidated Industries LLC• Pacific Science Engineering Group• Pacific Ship Repair and Fabrication• Pacific West Builders• PAE Government Services, Incorporated• Paramount Petroleum Corporation• Parsons Infrastructure and Technology Group• Pasha Hawaii Transport Lines LLC• Passport Systems, Incorporated• Patten Energy Enterprises, Incorporated• Pave-Tech, Incorporated• Pearson Engineering Ltd• Pegasus Global, Incorporated• Pendleton Group, Incorporated• Petro Star, Incorporated• Pepco Energy Services, Incorporated• Phelps/Kiewit• Phillips Contracting, Incorporated• Phoenix Air Group• Phoenix Fuel LLC• Photo-Sonics, Incorporated• Piedmont Hawthorne Aviation LLC• Pioneer Adult Rehabilitation Center• Placid Refining Company LLC• Point Blank Body Armor, Incorporated• Polkton Manufacturing Company• Pratt & Whitney, Incorporated• Pratt & Whitney Rocketdyne• Pratt and Whitney United Technologies Corporation• Presidential Airways, Incorporated, an Aviation Worldwide Services Company (Blackwater Aviation)• Prexis, Incorporated• Price Waterhouse Coopers LLP• Production Products Manufacturing and Sales Company, Incorporated• Productive Products International• Professional Contract Services Incorporated• Progeny Systems Corporation• Propper International, Incorporated• Protected Vehicles, Incorporated• Public Warehousing Company PSC• Pyramid ServicesQ• QED Systems, Incorporated• QUASAR Federal Systems, Incorporated• Qwest Government Services, IncorporatedR• R.A. Burch Construction Company, Incorporated• Radian, Incorporated• Ranger Aviation Enterprises, Incorporated• Raytheon Company, The (ALL)• Raytheon Company AMDS• Raytheon Company, Electronics Systems• Raytheon Company, Integrated Defense Systems• Raytheon Electronics Systems• Raytheon Electronic Warfare Systems• Raytheon Integrated Defense Systems• Raytheon / Lockheed Martin Javelin• Raytheon Missile Systems• Raytheon, Network Centric Systems• Raytheon RF Components• Raytheon Southeast Asia Systems Company• Raytheon Space and Airborne Systems• Raytheon Systems Company• Raytheon Technical Services Company• Raytheon Technical Services, Incorporated• RC Construction Company, Incorporated• Readiness Management Support LC• Record Steel and Construction, Incorporated• Red Star Enterprises Limited• Refinery Associates of Texas• Reger Group LLC• Reliant Energy Solutions East• Remotec, Incorporated• Research Associates for Defense Conversion, Incorporated• Revenge Advanced Composites LLC• Reyes Construction, Incorporated• Rheinmetall Waffe Munition GmbH dba Niederlassung NICO Trittau• Richard E. Pierson Construction Company, Incorporated• River Trading Company LLC• Robert Orr – SYSCO Food Services• Robertson Aviation LLC• Rockwell Collins, Incorporated (ALL)• Rockwell Collins, Incorporated, Government Systems Division• Rockwell Collins Government Systems, Incorporated• Rockwell Collins Services• Rogers-Quinn Construction, Incorporated• Rolands and Associates, Incorporated• Rolls Royce (ALL)• Rolls Royce Corporation• Rolls Royce Engine Services• Rolls Royce Naval Marine, Incorporated• Rolls Royce plc• Rome Research Corporation• Roselm Industries, Incorporated• Rosemont Aerospace, Incorporated• Rotordynamics-Seal Research• Rheinmetall Waffe Munition GmbH• RQ Construction, Incorporated• RS Information Systems, IncorporatedS• S & K Sales Corporation• S & M & Associates, Incorporated• SAAB Bofors Dynamics AB• SAAB Training, LLC• Sambe Construction Company, Incorporated• Sampson Construction• San Diego State University Foundation• Sarnoff Corporation• Sauer, Incorporated• Sauer, Incorporated, dba Sauer Southeast• S B Ballard Construction Company• Schafer Corporation• Schutt Industries, Incorporated• Science Applications International Corporation• Scientific Applications International Corporation• Scott Alliance, Incorporated• Sea Box, Incorporated• Sealevel Systems, Incorporated• Sealift, Incorporated• SeaPort-e• Select Engineering Services• Select Sensors and Airborne Systems Electro-Optics Limited• Sensors Unlimited, Incorporated• SERCO, Incorporated• Seven Seas Shiphandlers• Seyer Industries, Incorporated• SFA, Incorporated• Shell Chemical Yabucoa, Incorporated• Sidran, Incorporated• Sierra Nevada Corporation• SIGCOM, Incorporated• Signal Systems Corporation• Signal Technology Corporation• Sikorsky Aircraft Corporation• Sikorsky Support Services• Silver Eagle Manufacturing Company• Simula Aerospace (ALL)• Simula Aerospace & Defense Group, Incorporated• Simmonds Precision Products, Incorporated, DBA Goodrich Fuel and Utility Systems• Singh Group, Incorporated dba Baja Pacific• Science Applications International Corporation• Schutt Industries, Incorporated• SFA, Incorporated• Shamrock Foods• Shanska USA Building, Incorporated• Shaw Environmental, Incorporated• Shaw Infrastructure, Incorporated• Shee Atika Languages LLC• Shutt Industries• Sikorsky Aircraft Corporation• Simula Aerospace• Skanska USA Civil Southeast, Incorporated• Sippican/Granite State Manufacturing Submarine Antenna Joint Venture• Slone Associates, Incorporated• SLR Contracting and Service Company, Incorporated• SM Wilson• Small Business Group• Smiths Aerospace LLC, Electronic Systems• Smiths Aerospace Mechanical Systems• Smiths Detection, Incorporated• Snap-On Industrial• SNC Technologies, Incorporated• SNC Telecommunications, LLC• SOC-SMG• Sodexho Management, Incorporated• Soltek Pacific Construction Company• Source for Native American Products• SOPAKCO, Incorporated• Southern Research Institute• Spain AFS• Sparta, Incorporated• Sparton Electronics• Spawglass Contractors, Incorporated• Special T Hosiery Mills, Incorporated• Special Tactical Services LLC• Spectrum Comm, Incorporated• Speegle Construction, Incorporated• Sprung, Incorporated• SRC Tec, Incorporated• Ssangyong USA, Incorporated• Standard Aero, Incorporated• Stanley Associates, Incorporated• Stauder Technologies• Static Energy LLC• Sterling Foods, Ltd• Stewart and Stevenson Tactical Vehicle Systems (ALL)• Stewart and Stevenson Tactical Vehicle Systems LP• Stewart and Stevenson Tactical Vehicle, Division of Armor Holdings• Stronghold Engineering, Incorporated• Structural Associates, Incorporated• Sumaria Systems, Incorporated• SUMMA Technology, Incorporated• Sundt Construction, Incorporated• Superior Graphite Company• SupplyCore, Incorporated• Supreme Foodservice AG• SURVICE Engineering Company• Symetrics Industries• Sys Technologies, Incorporated• Systems Research and Applications Corporation• Sysco Central Florida• Sysco Food Service of Hampton Roads• SYSCO Foods of Seattle• Sytex, IncorporatedT• Taber Construction, Incorporated• Taitec, Incorporated• Talbert Manufacturing• Talley Defense Systems• TASC, Incorporated• Tatilek Support Services, Incorporated• T.B. Penick and Sons, Incorporated• TCI Architects Engineers Contractors, Incorporated• TEAM Construction, LLC• Team Logistics Joint Venture• TEC, Incorporated• Technical Communications Corporation• Techno-Sciences, Incorporated• Technology Service Corporation• Tecolote Research Incorporated• TECOM, Incorporated• Teksouth Corporation• Tel Instrument Electronics Corporation• Telecommunication Systems, Incorporated• Teledyne Benthos• Teledyne Scientific and Imaging• Teledyne Wireless• Telephonics Corporation• Telford Aviation• Tennessee Apparel LLC• Tennier Industries• Terra Mississippi Nitrogen• Terex Corporation• Tesoro Corporation• Tesoro Refining and Marketing Company• Test and Experimentation Services Company• Tetra Tech (ALL)• Tetra Tech EC, Incorporated• Tetra Tech NUS, Incorporated• Textron Marine & Land Systems• Tiber Creek Consulting, Incorporated• Thales Communications, Incorporated• Thales-Raytheon Systems Company LLC• Theodor Willie Intertrade• Thermo Pac LLC• Thomas Computer Solutions LLC• THR Enterprises, Incorporated• Three Phoenix, Incorporated• TJC Engineering, Incorporated• TLD America Corporation• Todd Pacific Shipyards Corporation• TolTest, Incorporated• Tompkins Builders, Incorporated• Trajen Flight Support LP dba Atlantic Division• Trans-TEC• Tri-County International Trucks, Incorporated• Trimble Navigation Limited• Triton Marine Construction Corporation• Triton Services, Incorporated• Triton Services, Incorporated, Electronic Technology Division• Treadwell Corporation• Triple Canopy• Truman Arnold Companies• T Square Logistics Services Corporation• Ttec-Tesoro, Joint Venture• Tuckman-Barbee Construction Company, Incorporated• TUG Technologies Corporation• Tulip Corporation dba PHI• Tullahoma Industries, LLC• Tulsair Beechcraft, Incorporated• Turbo Combustor Technology, Incorporated• TW Metals, Incorporated• Tybrin CorporationU• Ultra Electronics Advanced Tactical System• Undersea Sensor Systems, Incorporated• United Parcel Service (UPS), Incorporated• United Technologies Corporation• United Technologies Corporation, Pratt & Whitney Aircraft Group• United Technologies Corporation, Pratt & Whitney, Military Engines• University of Central Florida• University of Hawaii• University of Southern California• Universal Technology Corporation• Universal Technologies• Urban Associates LP• US Foods International• US Foodservice (ALL)• US Foodservice Lexington• US Ordnance• US Tactical Supply, Incorporated• Utah State University Research Foundation• Utility Contractors, IncorporatedV• Valero Marketing & Supply Company• Valley Apparel LLC• Valley Power Systems, Incorporated• Vane Line Bunkering, Incorporated• Vanguard Contractors• Vasquez Marshall Architects• VBR Joint Venture• Vericor Power Systems, LLC• Veridian Systems Division• Verizon• Vetco Contracting Services LLC• Veterans Enterprises Technology Services LLC• ViaSat• Vinghog AS• Virtexco Corporation• Vision Systems International• VT Griffin Services, Incorporated• VT Halter Marine, IncorporatedW• Walbridge Aldinger Company• Walbridge Construction• Walton Construction Company• WareOnEarth Communications, Incorporated• Washington Harris Group, Incorporated• Watterson / Davis• Watterson Construction Company• Watkins Aircraft Support Products• Watkinson LLC• Watts Constructors LLC• Weeks Marine, Incorporated• Welin Lambie LTD• Wellco Enterprises• Wellstone Apparel, LLC• Western Marine Construction, Incorporated• Weston Solutions, Incorporated• WF Magann Corporation• WG Yates & Sons Construction Company• Wolf Coach, Incorporated• Wolverine and CADDO Joint Venture• Wolverine World Wide, Incorporated• Wood Brothers, Incorporated• Woodward Governor Company• Woolrich, Incorporated• World Fuels America• World Fuel Services America, Incorporated• World Fuel Services Corporation• Wornick Company, The• Whitesell-Green, Incorporated• Whiting Turner Contracting Compan• W. M. Jordan Company, Incorporated• Wyle Laboratories, IncorporatedX• Xceedium, Incorporated• Xerox Corporation• Xilinx, IncorporatedY• Yellowstone Electric Company• York International Corporation• Y Hata and Company, LimitedZ• Z Corporation• Zeitgeist Expression, Incorporated• Ziva Corporation#• 3001, Incorporated

So instead of free wheat we have credit cards.We’ve come a long way, baby.Professor Roubini has it right: we do not have a credit crisis; we have a debt crisis.

I just threw up in my mouth a little bit.

June 12th is the date set for GM’s CDS auction, but we may see a pullback anytime from Wednesday next week until then. But it will be just my luck that nothing will happen. Syngora CDS auction was last Weds., market drops 173 pts. JLSA bank CDS auction today, the market dropped 3 digits yesterday, then the market reverses and we only lose 65 pts.The point I’ve always been trying to make is that I’ve been watching these auctions since last August, Fannie and Freddie were huge, and the market tanked. Follow these by Lehman, WaMu, 3 Icelandic banks, and many corporate auction in February, and they these stock market plunges are so heavily correlated you’d have to be as dense as a box of rocks not to see it.In addition, you will also notice that oil and pm sell off, and the dollar rises during these auctions. These are cash auctions and the need for U.S. dollars is great as they are generally priced in dollars. You hear pundits as to why oil went down when the dollar went up and the analysts scratch their heads and can’t make heads or tales of it. Make no mistake, it’s a lack of liquidity, which is why the Fed created the Supplemental Liquidity Program, administered by the great and powerful Goldman Sachs.As I don’t see any catalysts that will, in the near future besides next week, drive the markets down, I believe we’re in a bull market. Fundamentals don’t exist and never have, it’s all been a huge smoke screen.

a,i hate when that happens.

http://www.hartford-hwp.com/archives/45a/058.html…We are now faced with the fact that tomorrow is today. We are confronted with the fierce urgency of now. In this unfolding conundrum of life and history there is such a thing as being too late. Procrastination is still the thief of time. Life often leaves us standing bare, naked and dejected with a lost opportunity. The “tide in the affairs of men” does not remain at the flood; it ebbs. We may cry out deperately for time to pause in her passage, but time is deaf to every plea and rushes on. Over the bleached bones and jumbled residue of numerous civilizations are written the pathetic words: “Too late.” There is an invisible book of life that faithfully records our vigilance or our neglect. “The moving finger writes, and having writ moves on…” We still have a choice today; nonviolent coexistence or violent co-annihilation.We must move past indecision to action. We must find new ways to speak for peace in Vietnam and justice throughout the developing world — a world that borders on our doors. If we do not act we shall surely be dragged down the long dark and shameful corridors of time reserved for those who possess power without compassion, might without morality, and strength without sight.Now let us begin. Now let us rededicate ourselves to the long and bitter — but beautiful — struggle for a new world. This is the callling of the sons of God, and our brothers wait eagerly for our response. Shall we say the odds are too great? Shall we tell them the struggle is too hard? Will our message be that the forces of American life militate against their arrival as full men, and we send our deepest regrets? Or will there be another message, of longing, of hope, of solidarity with their yearnings, of commitment to their cause, whatever the cost? The choice is ours, and though we might prefer it otherwise we must choose in this crucial moment of human history. …

As Elvis would say, “Thank you, thank you very much!”

When I bought my house in 1999 interest rates were about 6% to 7% and the loan broker mentioned the three times your salary rule as a guide. Old fashioned, I know. He also told me not to overimprove my house with options (I was buying new construction). The loan broker was a young guy, but apparently out of step with the fashion of the loan industry.

After America shouldn’t be so hard to forsee: The Shanghai Cooperative Organization

Obama is a one term president, just like Jimmy Carter.The man is great in front of a teleprompter but that’s about it. No substance whatsoever. Unfortunately, the damage he is doing may be irreparable.He’s selling America down the river for the sake of his socialist ideas.

Think of the job losses that Obama is saving by letting all those contracts!

If you notice I ask for help on the NO JOBS issue and i did write some solutions recently… The problem is so complex and so deep and the PTB keep changing the fixes almost monthly it is impossible to hit a homwe run at this. part of solving any problem is fully understanding it, which i dont pretend to at this time. so if there are approx 20 million or more out of work presently where should they go to work (at decent and fair wage based on skills)?Throw some solutions out or do you not understnad the problems in the simplest terms?

For all flesh is like grass,and all its glory like the flower of grass.The grass withers,and the flower falls… -I PETER IDo you know whose tomb these words and music grace?

I still want to know how all this money is going to get into circulation?We have declining retail sales. We have declining housing market. We have hotels at less than 50% occupancy. We have more and more people unemployed… We even have lowering energy use and fuel use…So IF all the money being borrowed or printed is doing more than filling a huge black hole and actually causes commodities to rise in a speculative frenzy, the consumer (70% of the economy) will crash and burn, leaving what for an economy?I know the common sense for inflation from monetary expansion but it appears to me that deflation is still the 800# gorilla in the room. What if all this monetary expansion is just going to replace fantasy money on balance sheets and there really isn’t any left over to cause rising prices?AND exactly HOW is this money going to get in to circulation? Not thru the traditional means of lending.. Not this time. Not with 18% unemployed and Alt A, Option ARMs on the verge of collapsing housing further, the auto industry on the rocks, auto suppliers near bankruptcy too, retail sales declining precipitously, malls in default, with more devastation exposed every day… This is not a scenario for inflation or growth…Although the bond market seems to see something doesn’t it.

lighten up francis, we like to kill people. I work in that industry and we are hiring, even though we are over staffed – called cost plus and it pays the bills!

P.S.And thank you!

No, Chignos.Mark

And also probably environmental toxins…

I know that fiat money is/always has been virtual. My point is that at what point does it become so virtual, not grounded in anything, that people walk away from it?The folly of empires has been their refusal to see that they are not eternal.Mark

Let’s resurface this issue that Mark has repeatedly brought up on this board: since we exist in a closed system, it is not possible for the economy to continually keep “growing”.If this is true (and I believe it is), and knowing how much the U.S. government lie in their official statements (employment statistics, etc), the question is whether a capitalistic system in reality even works. The need for all this lying actually implies that it does not.Another issue is whether we are close to some sort of a saturation point where further growth is not possible. If this is the case it would be good to know whether there are any financial instruments where the return is not a function of growth.Otherwise perhaps best to just invest in a landlot and start growing vegetables on it.

Pushing on a string!Mark

So looks like “western control of oil” was a likely major factor for the Iraq war as well. I had wanted to believe there were some ‘higher’ reasons than that, how naive of me.Obama Admits to US Role in Iran Coup

While far from the focus of his historic Cairo speech today, President Barack Obama’s comments on America’s history with Iran have caused something of a stir, as he became the first sitting US president to publicly admit to America’s role in the 1953 coup in Iran.“In the middle of the Cold War, the United States played a role in the overthrow of a democratically elected Iranian government,” Obama admitted, referring to the CIA’s role in the coup against Prime Minister Mohammad Mosaddeq after he nationalized the Iranian oil industry.The US and British governments supported a coup d’etat in 1953 to ensure Western control over Iranian oil production. Iran remained under the control of the Shahist government until the 1979 Iranian Revolution, in which the current government ceased power.In the 30 years since the revolution, the US and Iran have had a hostile relationship. In the 1980s this led to the US and Britain supporting the Iraqi government of Saddam Hussein as a regional opponent to Iran. The US provided Iraq with considerable support during the eight year long Iran-Iraq War.

(full story at:http://news.antiwar.com/2009/06/04/obama-admits-to-us-role-in-iran-coup/)

From above, this wise and passionate post…The solution to the bond vigilantes in to restore progressive taxation at all levels so that the megarichcan pull their weight. We all know the story of Warren Buffett and his secretary. She pays more taxes than he does proportionately. The marginal rates on the rich must go up. The capital gains rate and the dividendgains rate must go up. There must be a Tobin tax typestructure. IS THIS GOING TO HAPPEN? NO. The rich own the government. SO WHAT IS GOING TO HAPPEN? There will be a MORE REGRESSIVE VALUE ADDED TAX INSTITUTEDTO OPPRESS THE MIDDLE CLASS OR WHATEVER IS LEFT OF IT.You can kiss health reform goodbye!Since we can’t raise taxes on the rich and we just GOTROYALLY LOOTED BY THE BANKS, WE HAVE NO MORE MONEY.The solution will be to dismantle all our economic stabilizers of social programs and run an AUSTERITYBUDGET for a country that is heavily unemployed and indebted. I HAVE SEEN THIS MOVIE BEFORE!!!This is the model criticized by Joseph Stiglitz as the IMF creditor collection model for underdeveloped countries. The bond vigilantes can be easily appeasedby raising taxes on the wealthy to get our country on course. Marginal rates were very high on the wealthy through times of trouble in our country. So what is the critique of this policy. The rich will take their money elsewhere in the world to avoid taxation. The wealthy are participating in this PRESENT COMMODITIESTEMPORARY BUBBLE. There must be coordinated taxation treaties to tax speculative market transactions to raise capital to defray all the BANK BAILOUTS. WHY IS NOBODY TALKING ABOUT THE SHARE SACRIFICE OF THE GLOBAL WEALTHY TO RESTORE THE BUDGETS OF THE COUNTRIESTHAT HAVE BAILED OUT THE BANKERS?We will be sold a bill of goods to save the integrity of the budget balance process by sacrifice by the lower classes.Hide reply Reply to this comment By Guest on 2009-06-04 08:33:39…Drew this 100% brain-dead response:What does fair share mean? As I understand it, almost half of Americans towards the lower end of the income scale pay no taxes whatsover. Yet they reap all the benefits and get to cast a vote for the politician that promises them even more of a free ride. How is this fair?Give your head a shake!Reply to this comment By Guest on 2009-06-04 22:26:44…and this kind of idiotic garbage no-think response goes right to the heart of everything that is wrong, and shows why those who know how to fix this nightmare are prevented from doing so.The people who CANNOT or WILL NOT THINK LOGICALLY, who are UTTER STRANGERS TO REASON, who HAVE ZERO CRITICAL THINKING SKILLS, and who are additionally ETHICAL INFANTS – are the blockade.I know no one CHOOSES to be this stupid, but these mental midgets ARE the problem we can’t get past.How seriously impaired is the brain that looks at those residing in the house of have-not and proclaims that THEY are the ones reaping all of society’s benefits? How seriously retarded is the brain that suggests only rich people should have the right to vote? How seriously dangerous is the person with the brain that sees people WORKING AS HARD OR HARDER THAN ANYBODY ELSE, BUT FOR LOWEST WAGES, and then calls that person’s hard work ‘getting a free ride’???????WRITE THIS DOWN, BINKY: THE PEOPLE REAPING ALL THE BENEFITS of humans being societal-living creatures, the people reaping 99% of all the benefits it takes everyone’s work to produce – ARE THE ONES WITH ALL THE MONEY, HONEY. THEY ARE CALLED THE LEISURE CLASS FOR A REASON – BECAUSE THEY ARE THE ONES WHO UNNATURALLY REAP WITHOUT LABORING, RECEIVING THEIR WEALTH THROUGH MYRIAD LEGAL THEFTS granted them by a society gone insane, a society that adores being hard on street and petty crime while it shamelessly acquiesces to the extreme, extreme MURDERING-MILLIONS EVERY YEAR injustice of heaping giga-wealthpower on billionaire banksters and corporado CEO’s and their corrupt interlocking boards of directors and the weapons manufacturers.You billionaire wannabees who LOVE the tyrants and their money-tyranny and have nothing but hate for the working people who built this country: YOU WALKING SUICIDES MAKE ME SICK with your inane defenses of an economic, material wealth inequity factor that RESIDES IN THE BILLIONS.WEAR YOUR SLAVECHAINS AS YOU LIKE, BUT GET THE HELL OUT OF THE WAY OF THOSE WHO CAN SEE REALITY AND ARE UNAFRAID TO DO JUSTICE!

Of course! And we’re trying to do it again but through more subtle means. This was 99% of the reason we overthrew Iraq and are continuing into Afgahnistan/Pakistan. Control another country’s resources, then their financial system and it’s over. Imagine what we would do if another country tried to take control over our resources.

Yes and the delusion has been fostered, fed and kept alive by CREDIT, money we don’t have, which makes us feel not as poor, which allows us to deny reality and not comprehend the extreme difference in incomes between the rich and the rest of us. The masses feel helpless to address this disparity and keep following the mantra of “sacrifice now for my children’s future” not realizing that their children will be caught in the same paradigm. The quintessential question is how do you wake people up when those who voted for McCain or Obama (90% of voters)believe they are awake.

What we already suspected is still happening:Bank Profits From Accounting Rules Masking Looming Loan LossesBy Yalman OnaranJune 5 (Bloomberg)http://www.bloomberg.com/apps/news?pid=20601109&sid=alC3LxSjomZ8Crooks still in control, supervision still enslaved (or bribed?), as if nothing is being learned from this crisis. Can’t they learn from it or don’t they want to learn from it?

Good point about China. Might also have mentioned that China has its share of the ultra-wealthy and those who aspire to be ultra-wealthy, too. Greed is a human condition.SWK

I would argue that the best thing to do (and I hate the thought) is just toss your money into a bunch of mutual funds and forget about it – let the fat cats do what they will and keep getting fatter while we tread water, they make the rules and profit from them. The aristocracy has been doing it forever, they use different tools – religion, laws, disease and now the media (how else could you explain something as ridiculous as twitter that for some reason is talked about incessantly on pretty much anything on the boob tube).Welcome back bubble!

Interest rates will be 6% by next week at this pace – should be a boon for the housing market

what could possibly be unfair about those getting 90% of the wealth and benefits paying 90% of the taxes??????????and why do you say ‘rude’ when the accurate word is UNJUSTIFIABLE? You are, as i said, being perfectly SOFT ON INJUSTICE.and even more mindless no-think: china is more repressed so we should only compare with china’s level of repression, NOT WITH WHAT IS RIGHT, or SMART, or JUST, or POSSIBLE, or SANE – or even with what is REALITY.THIS is our insane human reality: We have hyper-extreme injustice. After thousands of years of uncontrolled, unlimited ‘rich get richer’, ie, rich get paid more and more and more per unit of work, pay now ranges from $1 to $1,000,000,000 a fortnight’s work. Instead of equal pay for equal work, we have from $1 to $1,000,000,000 for equal work.Why can’t people see that THIS is the biggest thing centimating our happiness and safety? When will people get the elementary sense not to shovel most of their earnings, power, and freedom to a few????

The manipulation of news has reached new highs. Bloomberg paints lipstick on a 9.4% unemployment rate pig. Read the headline.http://www.bloomberg.com/apps/news?pid=20601087&sid=axhy8nEZHIXY

No JOBS! Interesting on the avg hourly wage. U6 is well over 20 Million nowhttp://stats.bls.gov/news.release/empsit.nr0.htmThe number of unemployed persons increased by 787,000 to 14.5 millionin May, and the unemployment rate rose to 9.4 percent. Since the startof the recession in December 2007, the number of unemployed persons hasrisen by 7.0 million, and the unemployment rate has grown by 4.5 percent-Average hourly earnings, | | | | | |total private ………| $18.34| $18.46| $18.50| p$18.52| p$18.54| p$0.02Average weekly earnings, | | | | | |total private ………| 612.55| 613.60| 612.35| p614.86| p613.67| p-1.19age points. (See table A-1.)

Future Headline ” Job loss slows dramatically, we only lost 500,000 jobs this month. The unemployment rate is 24% which is a lucky number”.This opium reporting cannot be called news! Democracydepends on journalism and integrity. How can we work for change when the gatekeepers of discussion, which are our media outlets are hypnotists.

I guess we’ll have to agree to disagree. The equality you seek doesn’t exist and never will. We are after all a higher level animal, that when pressured reverts to animal instincts. Humans are competitive, they want to do better for themselves and their families. Some are ill equipped, for whatever reason. We can’t all be the winners, whether it be at work or on the sports field.We all make choices. It is ridiculous what a nurse makes, versus what a young trader or investment banker makes. Or for that matter a basketball player, football player or hockey player. The nurse could have chosen to follow a business career but didn’t. THe surgeon, who has trained for years and years, could have chosen to go to business school instead. Just because a line of work is more successful than another in terms of monetary reward is no reason for the nurse or the surgeon to be critical. They could have chosen that route but didn’t. I think it’s crazy what baseball players get paid but I can’t do what they do. I can’t throw a ball at 90+ miles per hour successfully, consistently at a very small target. I don’t say it’s not fair that I don’t have that talent. That’s the way it is.All this ranting about fraudsters and banksters is nonsense. Many participated in the get rich quick scheme that was the early to mid 2000s housing markets. Wall Street facilitated it, because that is the role of capital markets. What about the people buying the homes who had no chance of serving the debt in anything other than the ideal circumstances. Lets talk about the real estate agents. What was their involvement? What about the appraisers? What was their role. The buyers may have been ignorant but I don’t believe that is a defense in law. I’m sorry to sound elitist but while they knew nothing of the mortgage product that they’d committed to, I’m pretty sure they knew what happened on the latest Simpsons or South Park show. Everybody shares some responsibility for this mess.

But tell me where “justice” exists, anywhere in the world? What is an example of the system we should adopt? It’s not going to happen.

to futhur expand on Corporate greed and why its not all jsut our govt that creates the problems. I live number 10 every day!Read the whole articel here: http://www.oftwominds.com/blogjune09/depression06-09.html“Had the economy been fundamentally sound in 1929 the effect of the great stock market crash might have been small. But business in 1929 was not sound; on the contrary it was exceedingly fragile. It was vulnerable to the kind of blow it received from Wall Street.”You mean like the evaporation of $12 trillion wealth we’ve just experienced in the U.S.?But the present is far more fragile and vulnerable than the U.S. economy of 1929, for the following reasons. In 1955 Galbraith could not possibly have foreseen or anticipated these current conditions:1. A Federal government which since the “Reagan Revolution” of 1981 (e.g. don’t tax and spend, just borrow and spend) has borrowed during so-called good times on a scale once reserved for rare Keynesian stimulus to combat serious recession. Thus we find ourselves at unprecedented levels of debt (comparable in terms of GDP to the entire cost of World War II) and our current Depression has barely begun.2. A corrupt-to-the-core corporate structure riddled with bogus accounting, reliance on financial trickery for profits and misdirected/worthless regulatory oversight.3. A banking sector of such debauchery and fraud that the excesses of the 1920s are reduced to the pranks of slighty-naughty choirboys and girls.4. A Federal system of entitlements (Medicare, Medicaid and Social Security) which has grown far faster than the underlying economy for decades and now threatens the very solvency of the government itself, so stupendous are the future obligations.5. A global military hegemony which costs more than all the other militarys and intelligence operations of the entire world put together. The U.S. military consumes more oil than the nation of Sweden (9 million residents).6. An industrial, transportation and energy infrastructure that, rather than being rebuilt during the past 26 years of debt-based “prosperity,” has crumbled in a long decline. Rather than invest in electrical power grids and energy-efficient transport systems, the U.S. squandered the trillions of borrowed dollars on toys, gewgaws, electronics made elsewhere, malls and commercial towers with only transient value and millions of bloated, inefficient poorly constructed homes no one needed or could afford: “assets” which were not productive at all, “assets” which are now capital traps on a scale heretofore unimaginable7. A paucity of U.S. savings (and thus of domestic capital) with only one historical parallel: the depths of the Great Depression when unemployment was 25%.8. A huge reliance on financial leverage, debt, borrowing and trickery for corporate profits; the U.S. exports soybeans, increasingly worthless dollars and “financial innovations” which are now exploding in economies from Ireland to India with the destructive force of superweapons. In exchange for this dubious paper, we have accepted actual tangible goods from the rest of the world.They are now slowly waking up to the fact they’ve been conned on a scale few can grasp.9. Globalization has reworked the global supply chain in an astonishingly brief period of time. As a result, the arbitrage of currencies (foreign exchange a.k.a. forex), wages, governance (less is more profitable) and environmental regulations (zero is the most profitable) have all placed advanced post-industrial economies like the U.S. at great structural disadvantages.10. The U.S. claims to be competitive but much of this competitiveness is highly selective and thus illusory. Everything in the U.S.–labor, goods, buildings and taxes–is high-cost, overregulated (except for finance, banking and governance) and vulnerable to unpredictable lawsuits and officially sanctioned looting. Other than recent immigrants, non-U.S. employers find the workforce is often surly, unappreciative, narcissistic, entitlement-obsessed, unhealthy, poorly educated, unmotivated and more inclined to get-rich-quick schemes than actual enterprise or productivity.The middle management labors under impossible demands to enrich stockholders next quarter and heavy turnover insures few stay in any job long enough to learn it effectively. Team cooperation is a doublespeak fraud imposed by “facilitators,” creating a phony work environment where employees and managers alike pretend to care. This bogus environment breeds a looting, game-the-system mentality in which everyone is grabbing for all they can before retirement, restructuring, reassignment, resignation or getting fired.A “quarterly profits are God” mentality reduces the workforce (even the good workers) to units of input which are pared back or hired without regard to morale or loyalty. This managerial and cultural pathology makes a mockery of worker loyalty and breeds the very qualities of distrust and “I got mine” attitude which undermines both productivity and workplace happiness.11. Last but certainly not least, the U.S. economy is highly depedent on cheap, abundant fossil fuels–the very fuels which are in the global depletion phase, happy stories about unlimited natural gas and tar sands to the contrary.For all these reasons, we can anticipate the Depression currently unfolding will be deeper, longer and more destructive than the Great Depression.

The pool of wealth is finite, which means overpay has nowhere to come from but from underpay – so give me the justification for paying one person less for equal sacrifice so you can pay another more for the same sacrifice.Never mind – you CAN’T give me the justification because none exists. And that is the point…the crucial reality point that the entire human species is trying sadly, painfully, and unsuccessfully to avoid coming to grips with.

Medical bills underlie 60 percent of U.S. bankrupts: studyMedical bills cause more bankruptcies than mortgages dohttp://www.reuters.com/article/email/idUSTRE5530Y020090604?

Is anyone in charge these days! Numbers never lie! when you count your money you either have more or less… and as one person above said you need money to eat, at least in this country!Freddie: Mortgage Rates Touch New 2009 HighJune 4, 2009 – 3:09 pmFrom Bloomberg: U.S. Mortgage Rates Jump to Highest Since DecemberFixed U.S. mortgage rates jumped to the highest level this year, signaling the Federal Reserve’s plan to lower borrowing costs has stalled.The average 30-year rate rose to 5.29 from 4.91 percent a week earlier, Freddie Mac, the McLean, Virginia-based mortgage buyer, said today in a statement. The last time the rate was higher was Dec. 11, when it was 5.47 percent. The average 15- year rate rose to 4.79 percent from 4.53 percent.“That’s quite a jump,” said Donald Rissmiller, chief economist at New York-based Strategas Research Partners. “The more rates go up, the more we need home prices to go down to equalize consumers’ payments. It’s those payments that have brought about a level of stability in housing unit sales.”Kudos to Bloomberg for the highly relevant quote they used to interpret the headline data. As we’ve shown mathematically, monthly payments are key. If interest rates rise while incomes stay flat, the principal component of your mortgage payment has to come down to reflect the rise in rates.Maybe that sentence sounds complicated. It isn’t.The monthly payment on a standard mortgage has two components: interest and principal. Your income determines the monthly payment you can afford. The prevailing interest rate on mortgages determines how much of that payment goes toward interest. The remainder pays down principal.If interest rates go up, house prices have to fall in order to keep monthly payments in line with what buyers can afford.Higher interest rates would imperil the “recovery” because house prices would fall further as a result. As house prices fall, more mortgages fall into delinquency, blowing a bigger hole in bank balance sheets.*As you can see in the first chart, mortgage rates are closely tied to Treasury rates.Click charts to enlarge in new window.This makes sense since Treasurys have lower credit risk than mortgages. The government, after all, has a printing press to pay its debts. Homeowners don’t. Government bonds will always yield less than mortgages because, if they didn’t, there wouldn’t be a market for mortgages in the first place: banks would buy higher-yielding, lower-risk Treasurys instead of making mortgages.Towards the end of May, Treasury rates spiked. In the first week of June, mortgage rates followed suit.Assuming we’ve seen the worst of the banking crisis, we’ve probably also seen the end of panic buying of Treasurys. That would mean the Fed will have an awfully hard time keeping rates low, especially as the Obama administration continues its borrowing binge.On the other hand, if the crisis kicks up again, the Fed could get an assist from panicky investors who feel they’ve no choice but to buy government paper.Will the panic return soon? Possibly. Will it return eventually? Most definitely.At the end of the day, our monetary system is a Ponzi scheme. Everything is copacetic so long as its expanding. But it can’t expand forever, no matter how hard the Fed tries.*”Recovery” is in quotes b/c it’s artificial: A function of the Fed’s ability to keep rates low so that asset prices stay artificially inflated.

If it was priced effectively, it would have already taken off. Other energy alternatives are cheaper. I don’t have the benefit of your hours of sunshine where I live. I’ve considered solar and wind but can’t make the numbers work. It’s about a 20 year payback, by which time I will probably have passed on! The only way it becomes feasible is if oil quickly goes to $200-$300 barrel. However the overall economic impact of such an event would be devasting on the N. American economies.

Big OIL money is stopping it from happening and being priced properly. thier are combo wind and soalr units. the point is mass deployment of these technolgies accross our country and others is possible. take a look of the NYC building tops from an aerail view, all thsoe building could be outfitted with various solar and wind units. a massive undertaking on a national scope yes, lots of jobs yes, lots of work yes, lots of product needed yes…it’s one idea… but ask where will jobs come from then? Health care – possibly?I cant see it coming from more technology- we already maillions of workers glued to thier spread sheets and email for 8 hours a day and that by itslef produces nothing…

Here we go again… We are not even one year removed from paying $4.50 avg a gallon for gas last summer (i did pay 5.05 last summer here in Calif.)which accelerated the economic collapse/problems of fall 2008 and here we go again. I paid $3.10 this morning in Livermore California. now if we paid 4.50 last year for gas when oil was at 130 or so (high of 147) for a few months, how is it we are now paying 3.00 when it has been 50-65 for 6 months. so the wheels are in motion for us to again be paying for 4.50 on avg, but oil will obly be at 90-100 when that happnes. thats about a 35% fleece job on all of us in 1 year. I wondwer what happens if oil goes back to 150, will gas then cost 8.00 a gallon in the US? and if gas keeps going higher it is safe to assume that mortgage defaults will go higher, job lossed will mount, people will become more desparate to put food on thier table, more bills will go unpaid…No one seems to get it- we cannot continue our old ways as a country….The unemployment numbers are scary, but not as scary as expected, sending the Dow rocketing up 100 points, with oil hot on its heels breaking above $70.Will oil hold on for the rest of the day? Investors are obviously buying into the green shoots theory. And every time they turn around there’s a new report saying that oil will cost more in December than it does today.Today’s comes courtesy of Blackrock’s Daniel Rice who calls for $90 barrels of oil and a doubling of oil stocks, and a tripling of coal stocks in the next three years.http://www.businessinsider.com/oil-soars-over-70-2009-6

Good piece MMIf you think back to when the Dow started to rally in March, it was primarily based on Citi’s Pandit saying that the bank had returned to profitability, which was absolute nonsense. But the sheep bought it and when Wells Fargo said the same, the sheep bought some more. As the article you posted cites, the profit is all smoke and mirrors accounting hocus pocus. What it doesn’t point out is that yield spreads between bank bonds and Treasuries have tightened considerably in the last three months and that banks will HAVE TO RECORD LOSSES BASED ON THIS IMPROVEMENT. (To explain. A bank issue a bond for 100 cents on the dollar. 3 months ago, the market valued those bonds at, say, 75 cents on the dollar. The bank recorded a 25 cent profit because, in theory, they could buy the debt back at 75. Now the market for bank paper has improved and the bonds are now worth 85 cents. The bank has to record that 10 cent improvement as a loss, because they’ve already pocketed a decline from 100 to 75. If they were sharp enough to have actually bought back the debt, as I believe Morgan Stanley did, the latter won’t apply).Besides their previous “regular” mortgage business losses, the banks are facing huge losses on commercial real estate and commercial real estate loans, credit cards and personal lines of credit. A growing problem, which I’ve heard no talk about, is the bath they are taking on their recently acquired U.S. Treasury securities. “The Plan” was to repair bank balance sheets by having them earn the spread between almost no cost deposits and the yields on Treasury securities. The $2 trillion of liquidity the Fed has put into the banking system has primarily made it into Govt securities, rather than additional loans to corporations and consumers. These purchase are almost all under water, given the sharp back up in interest rates, and next quarter, if they are being honest, we should see some writedowns on these portfolios.Overall, the thing is a great confidence game. The banks are in lousy shape and getting worse. But the banks and the Goevernment, the Treasury and the Fed, don’t want you to believe that. If you don’t believe they are sound and improving, you take your money out. Collectively, that is a bank run, or rather a run on the banks. As I mentioned somewhere earlier, FDIC doesn’t have sufficient resources to shore things up. So we all believe in the banks, business as usual, the analysts upgrade them, the investors buy the stocks, driving up prices. This creates a “feel good” atmosphere so people begin to have the confidence to buy more shares and be a little less frugal with their wallets and purses. The economy begins to improve and everybody lives happily ever after.Unfortunately, as MM’s Bloomberg article points out, the foundation is a pack of lies.

You touch on why I am an egalitarian, but not a Socialist – a capitalist egalitarian. (but anybody who thinks what we’re seeing is socialism is wrong: this is fascism writ larger and larger that we are getting from TPTB…it is the opposite what your average Socialist wants.)The money/wealth that only work creates belongs in the hands of the earners of it, who will, as you say, spend it on the goods and services they need and want – as they have right to do.

can you say unfair subsidies purchased by buying off the peoples’ supposed representatives? do you realize how large the subsidies are, and that YOU are paying for them?

Earlier Question: “PeteCA, the other day you mentioned that you began seriously studying economics only in recent years. Are there a few books you recommend for someone who has only a basic understanding of economics?”————————————————–First, let me encourage you if your goal is to better understand the US economy (and the global economy). The single most important step that we can take as Americans – if we want to regain control of our economy and our country – is to understand how the money system works in America. Once you start to understand that, you can begin to see through the lies and illusions that are fed to the people on a daily basis. Ironically, I have come to suspect that few of our Congressmen have ever taken the time to understand economics and our system of money. How can we possibly restore sensible and responsible financial policies – when our own leaders don’t take the time to understand what is going on?Second, I would argue that “economic freedom” is one of the most important things that every American can have. In some ways it’s a lot more valuable that political freedom. We can all (fortunately) go to the polls and vote. Maybe we’re lucky and “our candidate” gets elected. Maybe not. But economic freedom is what allows us to better our lives … to work hard and enjoy the benefits … to have a chance to start again if something goes wrong with our personal finances. I have had the opportunity to go overseas and to try to help very poor people in third world countries. I can tell you that these people are slaves because they have no economic freedom – their system will never give them the chance to get a decent job; they have no ability to move to another place and start a new life; the people in government with power monopolize all the resources and all the money. The poor people are in chains.Perhaps this is why the men and women who founded our country decided to start a revolt based in part on the Boston Tea Party. It was an economic injustice that motivated that revolt. But they recognized that economic injustice and political injustice are strongly tied together. And so they decided to do something about it.For this reason I will never buy into the glib arguments that “America has never had a free economy”, or that our “free economy” was just an illusion. No economy is ever perfectly free. But we have been blessed (in past times) in America with an economy that was largely free, and it certainly gave a lot of good opportunities to many Americans. We need to stand up for that essential right to have a free economy, and we need to resist strongly any attempts to undermine it by those who have special powers or interests.Currently our enormous challenge in the USA is that we have all become slaves to debt. Debt has now reached such enormous levels in America that it threatens to undermine both our democracy and our free economy. It will take a major effort to turn this situation around.Getting back to the original question. I’d suggest that you take some time to read the articles that are posted on Web sites like:www.financialsense.comwww.321gold.comwww.prudentbear.comwww.dollarcollapse.comwww.moneyandmarkets.comPlease be aware that the authors of these articles must try to sell their own products – they generally have some type of investment that they are advocating. Yet it’s also quite true to say that many of these authors go to great lengths to offer free insights on money, finance, and economics. That’s especially true right now … as even seasoned veterans who have spent their whole careers in finance are becoming distraught at what is happening to the US financial system. It is not necessary for you to buy any of the products that are advertised on these sites. But if you take the time to reflect on the different points of view, you will find the articles stimulating. And naturally the discussions right here on the RGE monitor are also quite helpful at times – in terms of probing what is really going on.Good luck, and I wish you well as you take steps to regain control of the money that you own in this country. It’s one of the most important steps you could ever take – and also a very important step for our country’s future.PeteCA

Equal pay for equal sacrifice is a worthy goal. How do you define sacrifice when you have a heterogeneous mixture of people all with different goals, talents, and abilities. To what do you normalize?

well said in a few words! It’s not in thier best interests profit wise to allow alternative energy to catch hold UNTIL there is no more oil.

@ Guest 09:17I thought you were leaving this blog awhile back.Did you change your mind?

Enough reading for me this week on all the “doom and gloom” I’ll end with F..K the stock market… its the biggest ponzi scheme in the world. I played, i did well, but that was when i thought it was fair. I now no longer beleive the game is fair and in fact it hurts millions or people these days. And i dont want to be party to other Americans misery…

I did not say you could find a house for that much, only that that was a good rule of thumb to use for how much house you can realistically afford (and not be house poor).

http://dshort.com/charts/bears/four-bears-large.gifhttp://www.ritholtz.com/blog/http://www.shadowstats.com/http://www.shadowstats.com/alternate_datahttp://calculatedrisk.blogspot.com/http://suddendebt.blogspot.com/http://globaleconomicanalysis.blogspot.com/http://www.hussmanfunds.com/http://hf-implode.com/http://www.nakedcapitalism.comhttp://www.nakedcapitalism.com/2008/02/on-sorry-state-of-general-motors.htmlhttp://www.boombustblog.com/http://bigpicture.typepad.com/http://wallstreetexaminer.com/http://www.minyanville.comhttp://www.minyanville.com/articles/index/a/15957http://www.nowandfutures.com/http://mises.org/http://www.nfib.com/page/researchFoundationhttp://www.investorsinsight.com/http://www.contraryinvestor.com/http://riskinstitute.ch/136160.htmhttp://www.321gold.com/http://www.kitco.com/http://www.goldmoney.com/en/commentary.phphttp://www.bullionvault.com/gold-price-chart.do

HI MICHELLEThe grim news is already in the WSJ. The 20-35 YOs have a much higher unemployment rate than the 36-60 YO group, due to seniority. The attorneys will tell you that firing based on seniority keeps the companies out of lawsuits.I’m not saying I don’t always disagree with you in all cases, but average layoff actauls are actuals.Another problem in America/World, the senior experienced folks have not mentored the younger ones adequately [this takes like 10 years for professional type complex jobs]; this has mainly occurred due to restrictive hiring practices the last 10 years in my opinion. In some cases the youth want to move quickly to “company to company” to chase dollars; in some cases, their temp/contract jobs simply disappear too quickly.

phill, my adviser told us to KEEP investing and NOT to get out.We were reading IBS abstracts in 2007 and saying Hey this doesn’t look good and he was saying, you need to keep investing; you aren’t ready to retire yet.After losing 30%of principle, who does one listen to? It’s crazy and all bets are off these days; Bear Rally or no. ….and still Meredith Whitney says the numbers are manipulated. Good luck to all.

Since no one here seems willing to listen to any point of view other than one that likely reinforces their own, what would be the point of having a debate? With that attitude what is the point reading/blogging at all? Personally I like to learn information I haven’t previously been aware of—and there are some on this site that provide that, but they are not narrow-minded broken records. Limbaugh has some good points–if you never listen to him you never hear them. http://www.911mysteries.com is also interesting from a perspective at the opposite political extreme, or is it? (If you don’t look at it, you might be missing something.) Just know this: if you think that spouting off political rhetoric enlightens, you’re mistaken. It is not “debate.” We’ve heard it all before. It is boring.

I rarely reply to a comment, but your’s is a gem. Try reading Debt & Delusion by Peter Warburton if you haven’t already. Keep passing the open windows …

To be fair … there certainly are some members of our Congress who have gone to great trouble to understand and probe the real problems with our money system. Ron Paul is one of these people, and to his credit he continues to be outspoken about deficiencies in the system. Former Comptroller David Walker also did a terrific job of pointing out the dangerous financial policies that we are following. My personal hope is that somehow Americans will find a way to turn things around in a way that does not lead to violence and anarchy – but this path can only happen if new voices and new leaders speak out for change in the right direction. Will this happen in time … I don’t know.One thing is for sure. It is foolhardy for creditors to be buying US debt at the kinds of interest rates we are offering right now. I don’t think we can count on further purchases of US bonds and treasuries by China and Japan for very much longer. The good relations that we have shared with Asia (in terms of financial policies) will go by the wayside.PeteCA

Or, how about this: those in Washington who are so all-fired concerned to reform “health care” should be held to the following standard: WHAT’S GOOD ENOUGH FOR OBAMA IS GOOD ENOUGH FOR EVERYONE ELSE. Unless they’re offering to “fix” the health care system so that any American can get the same health care deal that Obama and Congress get, then it’s no deal. What about it Bernie Sanders and all you other single payer advocates? DEAL OR NO DEAL?

This is the 538th comment to this post. I think we need a new one soon! SWK

I know what you mean. My paternal great-grandfather was a sharecropper (and, incidentally, a POW in Elmira, New York after being captured by the Yankees at the Battle of Cold Harbor). One of his 9-12 children, my grandfather, quit school at the age of 13 to support his entire family. He educated himself, read all of the Harvard Classics, and became a conductor on for the Altantic Coastal RailRoad at the age of 21 (not bad, being in charge of an entire train at that age). He always made my pick up every penny I spotted on the ground, and every Christmas gave all of his three grandsons a single new U.S. dollar as our present. My Dad wound up being the 99th person to receive three degrees from Emory University, and became an orthopaedic surgeon. My two younger brothers and I all attended professional school (one surgeon and two lawyers — a good ratio these days, in my view). For all this, I know we’ve had the luxury of being lazier that our father, our grandfather, and our great-grandfather because of the groundwork they laid for our success.As for paying $130 for a toothbrush, don’t beat yourself up about that, AJ. Good dental hygiene is well worth the price of a single trip to the dentist. I know my grandfather didn’t had any teeth left when he died, and if he had known early on about the importance of taking care of his teeth, he damn well would have sprung for a decent electric brush. At least you didn’t buy a disposable electric. SWK

Michelle – Does this week’s TALF auction(s) (and associated outcomes) have any impact on your view about June 12 – as it is the variable that is now present – that previously has not been?

I’m bullish on this one. Although we reach major resistance levels, we could break through the 600 level…

Let us all think about less is more. Reduction in stress. Simple life. Extraction from the matrix. Enjoy being. Refuse to play the game.Anyone who continues to participate in stocks, equities, bonds, etc, etc, is part of the problem. Extract yourselves from the game and start to get real about living; Here, Now. There has been plenty of advice over the months on how you can do this. Only by extricating yourselves from the game that TPTB have constructed can you begin to construct the framework of the new paradigm. It is that simple; Stop railing against the inequalities of the System; it is up to every individual to construct their own reality. And if I am not mistaken, the majority of bloggers on this site want to elicit change. Well – do something about it! Change the way you live along sustainable lines. If enough people do it, we will obtain critical mass. That is the power of the internet. We can change the reality in which we live under the noses of TPTB and there is nothing they can do about it. The very fact that you yearn for change is actually changing the reality in which we live. Co-creation; Jung was really right on – the power of the colective unconscious is real. There is nothing to be gained from resistance – we must just let it flow through us and work on creating the reality we want to live in.It is simple, but relies on majority participation. DO you want to participate?

Can’t help you there. I’m not American borne and bred. Actually I’m an Englishman living in the Great White North.

Speaking of parochial bullsh$t and economic announcements:http://www.debtdeflation.com/blogs/2009/06/05/the-pool-room–week-ending-friday-5th-june-2009/Actually. I find it all rather amusing – sad about the people that didn’t need to suffer but then, I don’t aspire to the “ëvil” nasty bankers (whankers) conspiracy theory and I will say it again: We have bred our demise where the cause is our ignorance and we always chose the most ignorant (lowest common denominator) as our leaders.As for bureaucrats: well, most of this lot are borne of a nature intertwined with that which we term communism – read into this what you like, but it’s consistent.The answers are all very simple but we just need to get past ego and denial.”Sweet” says blind manHo hum

TOWNSHEND, Vt. – For weeks, Greg Noel roamed the spine of the Green Mountains with a handheld GPS unit, walking dirt roads and chatting with people as he helped create a map of every housing unit in the United States.Work was good: The sun was out, the snow was gone and the blackflies hadn’t begun to hatch. But now that work is over and Noel, 60, and more than 60,000 other Americans hired in April to help with the 2010 census are out of work once more.It’s a familiar predicament in today’s economy, in which some 2 million people searching for full-time work have had to settle for less, and unemployment is much higher than the official rate when all the Americans who gave up looking for jobs are counted, too.Because of the surge of hiring for the census, April unemployment only rose to 8.9 percent — a much slower increase than had been feared.Related linksStressed by bigger workload? Here are ways to copeHanah Cho: On the Job But consider these numbers:• The 8.9 percent April unemployment rate was based on 13.7 million Americans out of work. But that number doesn’t include discouraged workers or people who gave up looking for work after four weeks. Add those 700,000 people, and the unemployment rate would be 9.3 percent.• The official rate also doesn’t include “marginally attached workers,” or people who have looked for work in the past year but stopped searching in the past month because of barriers to employment such as child care, poor health or lack of transportation. Add those 1.4 million people, and the unemployment rate would be 10.1 percent.• The official rate also doesn’t include “involuntary part-time workers,” or the 2 million people like Noel who took a part-time job because that’s all they could get, plus those whose work hours dropped below the full-time level. Once those 9 million workers are added to the unemployment mix, the rate would be 15.8 percent.All told, nearly 25 million Americans were either unemployed, underemployed or had given up looking for a job in April.The ranks of involuntary part-timers has increased by 4.9 million in the past year, according to a May study by the Federal Reserve Bank of Cleveland. Many economists now predict unemployment won’t peak until 2010. And since employers generally increase the hours of existing workers before hiring new ones, workers could be looking for full-time jobs for some time.Even so, one economist said the increase in involuntary part-timers might have a silver lining. Gary Burtless, a senior fellow in economic studies at the Brookings Institute, said employers are likely cutting back everyone’s hours instead of laying off people.”In many countries, it’s regarded as a good thing,” he said.For tens of thousands of people like Noel, a part-time job isn’t their dream, but it beats the alternative. A Pennsylvania native and veteran of the Silicon Valley boom-and-bust cycle, Noel settled in southern Vermont in 2003. He’d worked a series of jobs, commuting to his latest position as an auditor for a family owned food and beverage distributor in Brattleboro before being laid off in early spring.Vermont is in better shape than most states — but not by much. Real estate and tourism, pillars of the state’s economy over the past decade, are staggering.Many parents who were frantic last year about sons and daughters serving in Iraq and Afghanistan — the state has sent a disproportionate share of its young people overseas — now are relieved their children have a steady job with benefits. Financial jobs are few. “The economy?” Noel asks between bites of a bison burger in a tiny diner. “You just don’t know if it’s ever going to come back. We may never have it so good again.”When the Census Bureau offered him a part-time job mapping houses nearly an hour from his Windham home, Noel jumped at it. The money, $10 to $25 an hour plus 55 cents per mile, was a big factor. But Noel said he also wanted to be part of a larger community effort, and the 2010 census is nothing if not a large community effort.When the first numbers are released in December 2010, the Census Bureau will have spent more than $11 billion and hired about 1.2 million temporary employees. The government conducts its census every decade to determine the number of congressional seats assigned to each state, but the figures collected also help the government decide where to spend billions of dollars for the poor and disabled, where to build new schools and prisons and how state legislative boundaries should be designed.It hasn’t been the perfect job — that would be a full-time position with benefits — but Noel says the census job worked out well. It eased the pain of being unemployed, giving him something to do and made him realize his entire life doesn’t have to be about financial management.”It’s just statistics,” said Noel, “but it’s important.”But last week, he was unemployed again, a victim of the Census Bureau’s efficiency. Since the government was able to draw from a well-qualified but mostly out-of-work pool of applicants, the work done by more than 140,000 field employees went far more quickly than expected.”We’ve always done well, but this time around was amazing,” said Stephen L. Buckner, a Census Bureau spokesman. “It’s a tough economic time.”For some temporary workers, the outlook is brighter. Ian Gunn spent five weeks “being paid to hike. It was great.” Gunn, an 18-year-old high school senior heading to Renssalaer Polytechnic Institute next year to study computer science, hopes for a better economy when he graduates, one that offers more security than a series of part-time jobs.”It’s going to take time,” he said, “but I’ve got four more years.”Noel, though, is uncertain about the future. It’s possible he’ll be called back to work later in the fall for the final push. The Census Bureau expects to send roughly 1.2 million workers out to count people who don’t return their questionnaires; the hiring will push down unemployment numbers for several months during that period.For now, Noel says, he and his wife are living without frills. He looks for another job and she runs Green Mountain Chef, a catering business near Stratton Mountain. Demand has slowed dramatically since the economic meltdown began, as it has for most tourism-dependent businesses in Vermont.Noel hopes to avoid being a statistic for too long. Unemployment insurance will give him about $425 a week — enough to pay the mortgage and maybe the health insurance bill. Right now, the couple pays about $280 a month, but that will climb to $850 in September, when his government-subsidized COBRA policy expires.”I hope something comes up,” he says. “But there’s not an awful lot out there.”

Agree that the answers are very simple and that we need to get beyond ego and denial. See post above.

Time to change the mindset and get busy living. Nothing else will work. We HAVE to change the paradigm. From acorns oak trees grow. It has to start somewhere,Railing against the status quo will not change the present reality. The change has to come on an individual level.It is down to all of us to elicit change. Forget about how you are going to extract your next dollar from behind a screen – don’t you see that you are only perpetuating the carnage? Stop playing THEIR game and start living for yourselves.

Time to change your individual paradigm. Your time would be better spent weeding your vegetasble patch. And if you have not got one, why not? Haven’t you been paying attention these last few years? Internet blogging is a luxury. Time to get your fingers covered with dirt.

pjb,i think you could provide some context to thatparticular quote. context other than the contextprovided, like perhaps, the context or the completequote. after all the way you present it makes blindman sound like a deranged dog trapped in an emptydumpster with nothing but the sound of vermin circlinghis predicament.and it has been too long since your last post..i thought you had high speed service? 39kbps, that isdial up! the suffering has just begun for you, i expect your mood will sour now and i will look for theeffect in the content of your posts..

A gem for my pocket of quotes.

What’s their alternative? If they stop buying, their present holdings will go down in value with the dollar and they will lose manufacturing jobs. They seem trapped for now.If they do stop buying, the weaker dollar will help Obama with his desire for creating manufacturing jobs, and green energy alternatives will begin to pencil out.hlowe

Thanks–for the insight. If money is to have any value on both sides of the Pacific, it has to come to this.

Green shooter must envision every downturn as a V-like action.Sort of like dropping a superball and watching it immediately bounce back to right where it was.

Senator Bernie Sanders said today on Tom Hartmann’s radio program, “Brunch With Bernie,” that there’s a segment of America’s corporate culture whose patriotism is money. He said that if these people could make 10 cents more on a product by personally moving to China, they would.Sanders said that we’ve had an administration for eight years that not only didn’t do anything about companies moving offshore to avoid taxes, but rather encouraged it, noting that the former vice president of the United States, Dick Cheney, was affiliated with such a company–Halliburton, with segments in the Cayman Islands in 2003, now headquartered in Dubai, to avoid taxation.These corporations base themselves outside the United States; yet they rely on protection, and even business contracts, from the U.S. military/industrial complex and the U.S. military. They take all these billions and billions coming back to them in offshore profits, and rather than using any of it to support or create jobs in America, use it instead for bonuses and stock purchases. To make matters even less fair, the U.S. Congress provides them offshore tax havens to avoid taxes.So far, the majority party’s plans to substantially change these practices have been little more than grandstanding.

g,you said it! perfectly.

f,we would make them our bankers and assorted elites?

I don’t know that the TALF auctions will have much impact as the CDS counterparties are usually hedge funds. What I believe I’ve been seeing is that the hedge funds don’t liquidate until they absolutely have to, allowing their investments to potentially gain value until the payment is due. I liken it to keeping your money in a high-yield checking account and not making your mortgage payment until the due date, never paying a day early.Two other issues next week include the impact of government’s previous bailout funds to GM and how that may or may not impact the final CDS auction price versus current CDS price. If I look to Fannie and Freddie for guidance, bailout funds probably won’t have an effect on the final auction price.The second issue is the 30 year treasury auction next Thursday. How successful will it be? If the market sells off hard that day, investors may be inclined to buy treasuries, offsetting concerns of the Fed monetizing our debt. Realistically, I expect the market to decline the most on Thursday for both the treasury and CDS auctions.

PeterJB, the people are not electing their leaders. It is now clear that the conspiracy (that you don’t see) creates the illusion that choices are presented; that we have two competing political parties, that Obama and McCain were fierce competitors–one representing a major portion of our population, the other representing the remainder.The conspiracy (that you don‘t see) was conspicuously present when members of the Obama cabinet were selected, is present when every major piece of both foreign policy and domestic policy legislation is not only decided, but is proposed. Do you think that a domeful of purchased legislators actually are choosing between competing policies? Do you think the news media can actually choose which stories to report without looking over its shoulder at the conspiracy (that you don’t see)?The people are the ultimate decider of this nation’s future, yes. But in recent years the conspiracy (that you don’t see) controls their choices, such as the laws and regulations that would stop a Ron Paul before he even gets started in the presidential primaries. The conspiracy (that you don’t see) has pushed corporate interests ahead of the people’s interests with major landmark legislation through the years establishing central control in Washington rather than state control by the people, enabling money to rule.Yes, the people are misled. A good example as to “why” is the labeling of legislation that deals with individual mortgages as something like “the act to help the people keep their homes.” Inside that legislation, of course, is the conspiracy (that you don’t see) working to get what it wants.A conspiracy, by the way, is an agreement between two or more persons to do an evil act in concert; a plot in secret … What could be more evil than secretly stealing other people’s money and, then, lying about it? If private bankers working secretly together to use the country’s currency for their own use is not a conspiracy, then what is? Another part of the evil plot is to make the law. For example, the bankers made the law that they have to meet in secret–for our benefit!It was conspiracy, incidentally, that led to the rewriting of the definition of “conspiracy.” You think conspirators are not powerful? They even can change the meanings of words.IMO, if America had had an open election in 2008, where everyone could complete in the presidential election on a level playing field, including money, we would not have seen Obama or McCain or Hillary as top presidential contenders.A lot of us have noticed what has happened in America—when enough are forced to notice, either by the warnings from people such as those on this blog, such as yourself PeterJB, or from their own personal impoverishment —perhaps, then, Gulliver will awaken and break the thousands of ropes that bind him.

Was that supposed to be funny? Oh, you’re posting anonymously, I guess it was meant to be cruel.

SGS-Alternate Unemployment at 20.5%(see http://www.shadowstats.com/alternate_datafor updated SGS Alternate Unemployment)for your referenceHo hum

So reduce the corporate tax rate to just below that of Dubai and capital (AND JOBS!) will flow back out of Dubai and into the US–it’s really simple, nimwits. Capital goes where it is welcome.Bernie Sanders was totally disingenuous on Tom Hartman today. He rambled on and on about the necessity/desirability of a single-payor health care system,…….but is he in favor of that being the same health care that he and the members of Congress have?????Well……no…… we’re not even discussing that are we? Sanders, like all socialists, thinks there’s one system appropriate for him (Cadillac) and another for the masses (Medicaid) for you. Vote for his ilk and/or quote him at your peril.

Go all the (logical) way, Morbid—-you should be advocating outlawing health insurance.

pjb,sometimes i hesitate to spoil a thing by touching it.but i know the world is sometimes not as delicate asit may appear.. anyway…….your stark depiction of the economic indicatorsin contrast to the word “sweet” created a momentof dissonance. i like to think this is my wheelhouse,dissonance, as i have always been aware of itspresence, lived with it, and tried to learn from it.tried to understand its meaning. the source ofit, appreciate and respect it. or eliminate it.the first thing to do is discern the nature of theperception classified as dissonant. is itin the nature of the perception, receiver, orin the nature of the source itself. i frequentlyfind the source of the dissonance, as in this case,is inside myself. but i understand there is more than internal dissonance afoot today..we may be running into laws of social organization?hard limitations. what is the time it takes foran idea whose time has come to be accepted by apopulation? and then work its way into the physical reality of culture so as to provide a working foundation, cross generational identity and memory. but it changes so fast now and we no longerare afforded even a cultural human identity. the cosmosare denying, have removed part of our selves from ourselves. information revolution. sweet? insane?hey, it wasn’t my idea.and …. how can this work as global communitiesbecome dependent, but not integrated. again the cart and horse, we first integrate with protection,self preservation mechanisms to alleviate the stressor potential disaster of dependence.? but integrate what? something that we can no longer even see?factors to consider…. size of population, complexity or simplicity of idea, existing capacity, mentality, of essential population.the environment has always provided the basis.nature always had analogy for man, or a number of them toeither wisely or foolishly choose. people will,in large numbers, once again, seek out analogies,once the current delusion is seen for what it is,self imposed and self defeating, suicide..as you know you have license. or freedom withouta license, even better..depending on the source…”bitter sweet”but you are correct anyway.. as so much of occupation, or employment, or jobs, or bread wining,or making money, or business, or entrepreneurialactivity or whatever ( these distinctions shouldbe thoroughly differentiated , not now ) is in collapse. real estate values are collapsing. etc..why, because it was not centered on any foundation?because it was actually destructive and we shouldhave a parade that it is finally gone?.so blind man, she, says “bitter sweet”. well, o.k.this ride to this collapse point has been goingon for decades and the prime force has been steppedon every day since its inception. this creepingfascism communism has been with us. it may be thatthis is what is collapsing. if the world is collapsing and it has been evaluated and found to be wanting then collapse it will. sweet. after allone cannot build anything without a foundation thatwill bare weight and collapsing structures do notprovide the necessary foundation. this, i believe, to be true in the “physical” as well as other domains.i don’t believe in capitalism either because i don’t thinkit has ever really existed outside of the theory inthe minds of certain individuals playing the valuepossession and “transfer more than my share to me” game. it is a term likethe other isms.casino logic. very important to a gambler and we are all gamblers by some definitions, right. eventhe unborn, little gamblers waiting to happen.?sure, what the hell?.certainly 2009 will not be seen as its heyday. if one could identify its heyday another could point out the millions of other people who sacrificed life and limb to make it so.our current systems will either prove prosperousfor humanity, doubtful, or preposterous and disastrous, in which casethe prime force will have fresh dissonance toexamine and then civic action and thinking willempower millions or billions of hungry people, allout of chips in a crooked casino that used to becalled planet earth..in a sense my end is just my beginning. happenseveryday, right?.adaptivism.? and silence.sometimes i hesitate to spoil a thing by touching it.and other random thoughts.are you really on dial up speed? i thought i was thelast one. don’t tell me you pay for cable t.v.please.

@PeterJBI read your comment above regarding obama cairo speech. You said there was nothing in the speech, that might be true but then what was the motive behind it. I also think his speech contradicted his ongoing policy and actions. I would love to hear your take bit in detail. Thanks

What is the point of posting lyrics on this web site? It’s annoying.

It’s not annoying me – and no, I’m not the one posting the lyrics. Learn to use your scroll button, and think upon how deadly censorship is, and how song lyrics are often poetry…meant to expand and nurture the soul and build the mental muscle.

Amen, Guest. Whenever we get too close to the truth, somebody rides in to disparage the very idea that conspiracies exist, confirming their ignorance of past events. So sad.I think good people mentally paste their own goodness onto others, making it impossible for them to believe the horrible stuff these elites conspire to pull off. And i think the baddies also paste their own immorality onto the good people, which gives them a skewed notion of human nature as greedy and ruthless.Alternatively, perhaps the baddies have just figured out how good and honest and innocent the people are, and that is why they don’t even bother to hide what they are doing so much anymore – they know the people will just take it and take it and take it, take all the injustices they perpetrate without much complaint at all.anyway, thanks for speaking up – and don’t stop.

yeah, but fully half of them came from the person posting the “great articles here” link ad nauseum.

Equal pay for equal sacrifice is a worthy goal. How do you define sacrifice when you have a heterogeneous mixture of people all with different goals, talents, and abilities. To what do you normalize?By SamIAm on 2009-06-05 10:45:27Hi, SamIAm. The shortest answer is: Time spent doing the work.All work is one of two things; and only human work deserves pay. Work is either work that Mother Nature did, like putting the gold in the ground or giving us bees to pollinate the world’s crops…or it is the sacrifice of an individual’s (irreplacable) time and (renewable) energies.What has been tragically lost via econo-speak is the absolutely crucial and primary, fundamental fact that humans all have the same RIGHTS and the same NEEDS for survival despite the differing gifts they are given in the birth lottery.The “science” of Economics (ho ho ho) is actually nothing more than a list of attempted excuses for overpayunderpay…for underpaying many so a few at the tippy top of humanity’s unnecessary pyramid can be overpaid.

So am I right in presuming that a kid that drops out of school and mows lawns for 8 hours a day should be paid the same as a brain surgeon, who has studied for I don’t know how many years, who puts in 8 hours work at the hospital?They’ve both “sacrificed” 8 hours of their time doing work. They should be paid equally?

Capital does flow where it is welcome(pays nothing). However, was is the public interest in allowing the global free flow of capital to roam the world in metaexploitation. You are under some extreme delusion that totally free capital is desirable for Civic Stability. Hot money has the same morals as piracy. Extremely deregulated free global capital always ends up in downward harmonization of the lives of the middle class to a synchronous global povertyfor most and huge profits for the financial parasitical few

Finding the posting of lyrics on an economics web site annoying generates a “climate of intolerance”? Guest, are you one of those people who subjects hapless strangers in retail stores, restaurants, airline terminals, and other public places to your loud and extended cell phone conversations because you believe it’s your divine right to talk on a cell phone?

There seem to be some patterns in the big picture machinations of the Financial Elite. The Megabanks have used the bailouts, the accouting trickery and the sucking in of new shareholders to appear solvent. It is now time to bring back Austerity for the Peons. The Austerity will dismantled the economic stabilizers. The megabanks however will take that long term low fed funds rate policy and JUICE THE SPREAD, by charging high interest rates on credit cards and mortgages to repair their balance sheet over a decade. Over the same decade, they will institute a crusade to eliminate the post-depression social programs. They will also privatize all possible functions of government in the name of austerity.Privatization is big business and can lead to great profits. Where does this lead the normal working American? His children will have no college education, since he can’t afford it. He will have no health insurance. He will live paycheck on minimum wages. We will drift into a Dickensian world. We are now living the nightmare of Parasitical Speculative Financial Autocracy. The objective has always been to establish a mechanical low wage efficiency that likens the normal worker to a cog in the machine.The unwashed will toil while the elite push computer keys to speculate. God Forbid, this speculative elite have to get their hands dirty to create the innovations of the future. They will allow the productive to do this, then they will use the favorable taxation of debt to take over the products of innovation.

Also, 8:01, please note that i do not call for cutting everyone an equal paycheck – that is not the solution I propose. My solution – the 2 steps i re-listed above – doesn’t even try to undo all the legal thefts in our dystem, it takes the easy (do-able) way out and just clips the peaks of wealth and dumps them into the troughs to create a pacific economic sea to sail our lives on. It counters the ceaseless drift of wealth from earners to non-earners, it keeps concentration of wealth and power from concentrating to infinity by installing a relief valve so the machine doesn’t explode from becoming over-pressurized.

I just fell in love with your brawny brain, whoever you are.

Their alternative is to cycle dollars into other types of useful assets. If I were them, I’d be looking at the range of commodities and natural materials produced by America – and buying those instead (that includes food). Same thing goes for precious metals. I do think the Chinese will have to loosen their peg on the US dollar again … raging inflation inside their own country will force them to do that.PeteCA

also again, 8:01, does society need lawns to be mowed? does society need floors to be mopped, toilets to be scrubbed, garbage to be hauled, buildings to be built, bread to be baked, (put all the “common” skilled and so-called unskilled jobs being done by the mass of humanity here)?Do people currently get pay in accord with how long (and hard) they work? do they even get paid in accord with how much society needs their work to be done? Does George Will make a lot more money than your garbageman? If both died tomorrow, which one would you need back the most – the guy who preserves your family’s sanitation needs or the guy who gets oodles to write – erm – what he writes?

what’s the complaint? there’s good discussion going on!

Very few Americans can support the narrow ideas that Bernie Sanders proclaims on welfare-related subjects such as health care. But Thom Hartmann, who is a fringe progressive in some areas, has explained that many politicians in the past have been candidates for interviews on his program, but only Bernie Sanders is willing to take all listener calls, no matter what they are, unrehearsed, and give the answers he sees fit. Hartmann explains that he has had politicians on and questions were asked that the next day the congressman’s staff would call with charges such as “what do you mean allowing questions like that?”I am a conservative, but I listen to “Brunch With Bernie” to hear sincere questions from the people, and answers from a United States senator.(By the way, Hartmann and Bernie both believe that our problem is a bunch of people on Wall Street.)

That’s the kind of question my own brain loves to play ball with, Sugar, but for now just know i’m not one who cares if you do or don’t sign “a name”.I’m thinking of becoming ‘Tad Bad and the Better Boys’ myself. Or maybe Nuvoletta, or maybe …

The fly in the ointment here is the definition of “rich.” Some define it as “$60,000 a year in ‘unearned’ income.”http://www.americasdebate.com/forums/simple/index.php/t3700.htmlObama in 2007 defined it as people who earn $97K a year; he now officially defines it as “a couple with taxable income starting at about $235,000… Administration officials also defended a related plan to limit the value of deductions for people making $250,000 and up, as a way to help pay for the cost of overhauling the health-care system.”http://www.filife.com/stories/higher-tax-would-hit-at-235000In that the housing bubble still has not shrunk down to “income size,” a couple earning $235,000 in one of the expensive places (New York, San Francisco), is still unable to afford decent housing.Obama’s racial/communist ideas, that support all the bankers want, will destroy the middle class. The bottom line to Obama’s kind of thinking is that we have to have big money to line the bankers’ pockets and to supply the manna to all the hungry socialist special interests that support him.Where is the money? It’s not with the working poor; it’s not with the tax dodging elitist rich: the money is with the middle class. Says Obama, if we have to lie and say that we’re taking the money from the “rich,” then we’re going to have do it. Because without this money, we can’t operate.

You will note that the next sentence says that change needs to occur on an individual level. Real change on an individual level requires a great deal of struggle. That struggle can lead to progress in changing your paradigm.It is not contradictory on a personal level, and indiviual change is really what is required at this time.

Well, I certainly agree that it is what’s in the majority of heads that is driving everything that is going on and the ideas in our minds must change in order to change culture, but I disagree stongly that, as you said earlier, “there is nothing to be gained by resistance”.I hope you agree that real change on an individual level requires interacting with good teachers…with others who know the stuff we don’t know ourselves yet…and that the change acquired/acheived needs to be acted upon as soon as a majority gain clarity of (especially economic) thought.

g,the explanation is long and you probably wouldn’tcare to hear it so let me just say there are some interesting turns of phrases and ideas in there andthey are not entirely off point to the many discussionsof economic import above. it takes a certain freedomof mind or thought to make real interesting connections, the kind that can save your life even. i regretthat you wasted your time being annoyed and that ihad anything to do with it. apologies.

Ben Bernanke has been a very loyal servant to the US Government – and to the group of financial elite bankers who run this country.However, his miracle working is coming to an end. It’s helpful to look beyond the smokescreen of press articles – which only give a surface view. Mr Geithner was in China very recently, and was reported as getting laughter when he suggested that Chinese debts were “safe”. But behind the scenes … it seems likely that Chinese officials expressed much stronger statements about their future plans to diversify assets (away from US debt). They confirmed that with a brief press release this week. Meanwhile, the Fed is running out of monetary miracles to save the US economy. There is only SO MUCH that they can do. That was Ben Bernanke’s point when he spoke to Congress this week – and told our politicians that they needed to cut spending. The signals are growing stronger and stronger that the game is over. It is not possible for Congress to continue to dump its spending problems in the lap of the Fed.All of which leaves the US Government in a tight spot right now. Tax receipts have dwindled (maybe by 30% of more) due to the downturn, and does anyone believe they are going to make a miraculous recovery while US unemployment is somewhere around 9.5%? (real figures higher). Serious pressure is bearing down on Congress now to make significant spending cuts. Of course, that would be the least favorite choice of any of our career politicians. But these would have to be real cuts – with real pain to Americans. Or alternatively, real increases in taxation rates.And by the way … this is clearly a bad omen for the state Gov’t of California as they go begging for bailouts in Washington DC. As goes California, so goes the US economy. It is time for painful cuts.PeteCA

New Roubini video on Bloomberg (similar message recession 6-9months more, yellow weeds, W shape etc and $200 oil (that’s new miunte2:15) – potenital for a perfect storm aheadhttp://www.bloomberg.com/avp/avp.htm?N=av&T=Roubini%20Dismisses%20%60Green%20Shoots%2C%27%20Sees%20%60Complacency%27&clipSRC=mms://media2.bloomberg.com/cache/vAkt_1Obh0IE.asf

That was really and truly awesome. Thank you for the link, Guest @ 11:17.15.SWK

Really, this is the only way that will work. I do think this is the place that Roubini is coming from.

SWK, is it a democratic society that robs Peter (the productive of society) to buy the votes of Paul (the non tax paying 40+% of society)?All the you will eventually do is drive the productive people away to other lands. Take a look back to what happened in the U.K. under Harold Wilson and his successor (Jim Callahan, I think). The brain drain was stunning and the economy went into the tank.

Black Swine event + Israel vs.Iran. The latter would certainly deliver $200 (maybe $400) oil though I have to think that with the Israel lobby presumably entrenched within the President’s innermost circle, one wonders how this will all play out. Cairo was a brilliant, if disingenuous speech that likely was part of a good cop (Obama) bad cop (Netanyahu) routine. One wonders how long Iran will have to stand down before Israel is given the go ahead from Washington, less than two years I would think.Of course if there has been a shift in US policy away from Israel then timing will be more like six months or even less and Israel will go it alone. Should that happen Roubini will have to perhaps look to the Phoenician alphabet where the symbol for the letter M (water) would be appropriate to describe the economy going forward.

Why is it “time for painful cuts”?! Honestly, I wish someone would explain to me why it isn’t utterly obvious that it’s time to choose the option of doing pay justice, which would make 99% of people better off financially and 100% of people better off in quality of life!Everyone seems to be convinced that we have to CUT our quality of life and our pay, when doing pay justice escalates our pay, our safety, our peace, freedom, security and happiness – which is everyone’s everything!Why is it so damn hard to convince 99% of humanity to take a big rise in pay in order to save this planet and every species??

I agree I’m complicit in a miserable system. I feel terrible about it. Life should not be like this. I want out.But how do I raise my children otherwise?

@ blind man to all the above:I point out that 39kbps is far less than dial-up and Yes, I pay for satellite TV.Yes.Consider that the foundations of the Great Pyramid were laid with a tolerance less than a millimetre whereby today, most builders starting in the game, don’t even consider that the ‘level’ of the foundation is important.We breed our demise, which occurs in cyclic events which obey the Universal Laws and as tacit knowledge declines and memory fades – as it becomes to be considered unimportant – we repeat our natural mistakes as von Hayek points out in The Road to Serfdom – which involves naturally applying fascism and communism and all that other miserable crap that incompetent and uneducated leadership always invoke when their status is threatened.WE forget that the ONLY thing that makes us human is our potential to transcend the cycles and this we must work towards, but we don’t as we love entertainment so we elect leadership from the jesters and clowns and watch the show on TV, like the news, the weather and Days of our Lives, its all entertainment.This leaves a choice:A. Let it be and enjoy life: accept death and taxes and believe what your government tells you.Result: Taxation and Death. Actually from A B Kuhn, men are dead or in the state of death whereby the challenge to to become alive to be borne – or “reborn”.B. To arise from the human state of death, to become homo sapien sapien, by 1. thinking, 2. considering, 3. experiencing, 4. being sentient and by finding the whole picture that is to say, putting the pieces together.Result: Civilization and a certain depolarization from the effects of the natural cycles and this can be achieved on a personal level or at a collective level subject to Universal Laws and the sentient stamina in play. But eventually, the spiral reaches the similar position in repetition BUT at a different plane. This is termed differentiation or maturity, if you prefer.So, we may think that we are in control of our situation, but we are not: we are in autoplay transiting through chaos – or phase transition towards a new order.Real economy: the hearts and soul of collective man expressed demographically albeit in aggregation. It is always there or with us.Secondary economy: mostly always with us but not necessarily so; the alter ego of the real economy and which can take many forms but the nature is more or less identical and analogically similar to the relationship between woman and man (where man is the alter ego of woman). I speak in terms of Universal Principles.Fiat money is a medium of exchange and should be treated a such. Banks should not be permitted to become large corporate entities as in physics, this causes granulations and imbalances. Money should not be worshipped.Governance should be by qualitative constraints – the wings of butterflies in accordance with Universal Principles and the application of music theory – ädaptivism indeed.Leadership is that light far away, untouchable but brings warmth and comfort to the heart; is untouchable yet within and is subject to the state of differentiation of those who seek and need leadership.Anger, or dissonance, arises from the breakdown in order of that which is good and or accepted or perhaps you may see that as a rupture of elegance and anger is that emotionally expressed action which attempts to repair the elegance of yesterday. But alas, the imposed state of differentiation though tacit change permits no return for those of the Osirian nature which are destined to press to their due effect or meet their hard fate en route. When one sees anger or feels anger, good is broken; elegance is gone and change has come; such is music.I think blind man that you are close to your point of return…ho hum

” … your stark depiction of the economic indicatorsin contrast to the word “sweet” created a momentof dissonance. “@ blind man to all that you write above: Aye.I point out that 39kbps is far less than dial-up and Yes, I pay for satellite TV.Consider that the foundations of the Great Pyramid were laid with a tolerance less than a millimetre whereby today, most builders starting in the game, don’t even consider that the ‘level’ of the foundation is important.We breed our demise, which occurs in cyclic events which obey the Universal Laws and as tacit knowledge declines and memory fades – as it becomes to be considered unimportant – we repeat our natural mistakes as von Hayek points out in The Road to Serfdom – which involves naturally applying fascism and communism and all that other miserable crap that incompetent and uneducated leadership always invoke when their status is threatened.WE forget that the ONLY thing that makes us human is our potential to transcend the cycles and this we must work towards, but we don’t as we love entertainment so we elect leadership from the jesters and clowns and watch the show on TV, like the news, the weather and Days of our Lives, its all entertainment.This leaves a choice:A. Let it be and enjoy life: accept death and taxes and believe what your government tells you.Result: Taxation and Death. Actually from A B Kuhn, men are dead or in the state of death whereby the challenge to to become alive to be borne – or “reborn”.B. To arise from the human state of death, to become homo sapien sapien, by 1. thinking, 2. considering, 3. experiencing, 4. being sentient and by finding the whole picture that is to say, putting the pieces together.Result: Civilization and a certain depolarization from the effects of the natural cycles and this can be achieved on a personal level or at a collective level subject to Universal Laws and the sentient stamina in play. But eventually, the spiral reaches the similar position in repetition BUT at a different plane. This is termed differentiation or maturity, if you prefer.So, we may think that we are in control of our situation, but we are not: we are in autoplay transiting through chaos – or phase transition towards a new order.Real economy: the hearts and soul of collective man expressed demographically albeit in aggregation. It is always there or with us.Secondary economy: mostly always with us but not necessarily so; the alter ego of the real economy and which can take many forms but the nature is more or less identical and analogically similar to the relationship between woman and man (where man is the alter ego of woman). I speak in terms of Universal Principles.Fiat money is a medium of exchange and should be treated a such. Banks should not be permitted to become large corporate entities as in physics, this causes granulations and imbalances. Money should not be worshipped.Governance should be by qualitative constraints – the wings of butterflies in accordance with Universal Principles and the application of music theory – ädaptivism indeed.Leadership is that light far away, untouchable but brings warmth and comfort to the heart; is untouchable yet within and is subject to the state of differentiation of those who seek and need leadership.Anger, or dissonance, arises from the breakdown in order of that which is good and or accepted or perhaps you may see that as a rupture of elegance and anger is that emotionally expressed action which attempts to repair the elegance of yesterday. But alas, the imposed state of differentiation though tacit change permits no return for those of the Osirian nature which are destined to press to their due effect or meet their hard fate en route. When one sees anger or feels anger, good is broken; elegance is gone and change has come; such is music.Fear of death itself cannot be attributed to one that is already dead – fear of death is actually fear of change or the fear of being subjected to the light of day when dragged from Plato’s Cave and we humans can and do become accustomed to anything; we are very adaptive but why must this change be imposed?I think blind man that you are close to your point of return…ho hum

to say that what the working poor need is “a helping hand” is to say they need to be given charity and shows that you are still missing the most crucial of all points: that those struggling at the bottom ARE earning their way just as much as anybody as they are making equal sacrifice to working and they are working as best they can with the gifts they got in the birth lottery which is exactly the same thing as what the surgeon is doing AHEM, but the working poor are NOT receiving equal pay for the equal sacrifice of their time and energies to working.what the working poor need is not a helping hand! what EVERY working person needs is equal pay for equal sacrifice, aka JUSTICE.GO THERE ALREADY, HUMANS. FALL IN LOVE WITH THE VIRTUE ESSENTIAL TO HAPPINESS AND SAFETY CALLED JUSTICE. NOTHING ELSE CAN SAVE YOUR BACON OR YOUR PLANET.BILLIONAIRES ARE RECEIVING SOCIETY’S PHILANTHROPY, NOT GIVING IT! START TAXING WEALTH INSTEAD OF WORK, OR LOOK YOUR CHILDREN IN THE EYE AND EXPLAIN YOURSELF.

@ blind man – an additional point arising:intellect is the alter ego of intelligence and the natural differentiated evolution of intelligenceintelligence is merely awareness of and the expression of order – local order but elegance nevertheless, but not overall elegance derived from harmonious spherical dynamics.intellect is a fixed variable threshold -ed evolution founded from energized (evoked) tacit knowledgeall that exists is information which varies in energized, and differentiated states maintained in a medium of structured charge.intellect can now be defined!ho hum

If you pay everyone more, prices will just go up.

hello. how do you like living on your round bomb wired to blow at a keyturn with the pressure rising fast today? does it suit you fine?

thanks. it’s good to see you, too. frankly, me an’ the book hit a roadblock and it has been at a standstill…but u know i’ll die before i give up.i want a happy planet to live on so bad i can taste it…i want the happiest possible planet i can get to live on, and i do not see any reason i should not have the thousands-times happier planet this place could easily be.be well and keep well, u.and campaign for pay justice.

Guest, you are looking for a Utopia that doesn’t exist, that, to the best of my knowledge, has never existed, and , in my view, likely ever to exist. SWK makes sound, rational arguments but IMO, you don’t.I get a little tired of some of the commentary on this blog, which comes across as simple sour grapes. From individuals that have not participated in any of the upside and are extremely jealous of those that have. All this nonsense about “rights” and the expectation that things should be handed to everybody on a silver platter. It’s sickening.

An eloquent piece. I can’t say I disagree with your overall view. I just disagree on degree. I fully support the idea of society taking care of those that CAN’T take care of themselves. I balk at taking care of those that DON’T want to take care of themselves and are happy to take the free ride on our backs.The point about Government theft is that they take an excessive amount of our paychecks and use the money to buy the votes of others. As fewer and fewer of us remain taxpayers, we carry the burden for the growing majority that have every incentive to vote for those politicians who promise them something for nothing. Mark my words, it is not sustainable in the long term.

you say that without being able to point to the irrational bit, and if you can’t point to the irrational bit, it isn’t there.

There is no free ride with pay justice; pay justice STOPS the free rides. People who can but won’t work would get what probably amounts to a survival minimum, being justly entitled to that as society has stolen everyone’s birthright to a place to put their feet/live their lives sans compensation, and that is an error to be corrected for. With fairpay justice, if you work average hours at average hardnes of working, you get fairpay. if you want to work twice as hard/long, you get paid twice as much. nothing other than this is sustainable. and if you know your government has been devoured by superwealth, then you should be clamoring for pay justice so you can take your government back.

“all this nonsense about rights…”Honest to God, I don’t even know how to speak to that zenith of idiocy…or is the more accurate term a zenith of ‘cowardice’?

People? Does it MATTER whether or not we are using rational thought to draw our conclusions? Will we get the same results using rational thought as we will get using rationalizations?

I’ve participated in plenty of the upside and avoided much of the downside. I am advocating things that would hurt my own pocketbook, though they should hurt those much wealthier, much more.I don’t mind helping others. But I want others similarly situated to (have to) help too. If they don’t have to, by and large they won’t. And that’s the opposite of utopian, it’s very realistic and faces facts. Coercion is necessary.

There will always be a real economy, but it may be owned by a very few and the rest forced to work to the point of exhaustion, in a world where all could live fairly easy.We need methods for “picking the cat up by the tail” when we are all pressed nose-to-the-grindstone to service our debts. The debts must be subverted, by formation of alternative money systems, or barter, or inflation. Somehow it must be made possible to default on the debts, because otherwise they will condemn us to lifetime after lifetime of servitude.

If bonds go up, interest rates (of the same duration) go down, not up.

is intelegence acquired or born with?

from each according to his ability, to each according to his need.

They will go to whatever domain is more hospitable. Their capital is already leaving. Have you noticed the deterioration in the dollar since the inauguration?Higher taxes will cause the country to lose its best and brightest people. And what will be left to bear the load.And now you want to play God? “I hope we get more of what you have, to distribute to others who deserve it more”. Wake up out there.

So let’s think this through. We confiscate everyone’s wealth. With that money we pay off, or attempt to pay off, the debts that the Federal Government, State Governments and municipal governments have amassed in our names. What is left, we redistribute across the citizenry of the country. (Citizenry, residents, illegal immigrants?).We then all go out to work (for whom, I don’t know because the last I heard one needs capital to run a business, stock inventory and employ people) and earn the same hourly rate, for digging a ditch, mowing a lawn, nursing someone back to health, working in a hardware store, working as a bank teller (whoops, their won’t be a need for bank tellers as there is no longer any wealth to be stored so banks will disappear).You manage your money well, provide for your family, manage to save a little that you bury in a tin can in your back yard, along with proceeds of the government windfall you received when all others wealth was seized. I’m not as prudent. I p***ed away my share of the windfall, then my hourly wage away on cigarettes, booze and gambling. I have no money to feed and house my family and I complain “it’s not fair” and come and knock on your door looking for a handout, because you still have wealth.What is so different than today?

I’d be interested in your comments on the demise of the auto industry. I don’t think it was the banksters and fraudsters that took them down. Clearly some seriously incompetant management but more the ridiculous wage and benefit structures that were achieved by the UAW. I’ve never been inside a car factory or seen what happens on a production line. Is the work skilled and specialised to warrant incomes higher than that for a nurse, for instance?

Good to see you exasperated. Zenith of idiocy? Zenith of cowardice? Explain please.Perhaps people should start thinking less about their “rights” and more about their responsibilities as citizens.

@Guest on 2009-06-06 19:16:04So what are tax rates like in Micronesia?

a should readThe Economy Is Still at the BrinkBy SANDY B. LEWIS and WILLIAM D. COHANNew York Times: June 6, 2009″WHETHER at a fund-raising dinner for wealthy supporters in Beverly Hills, or at an Air Force base in Nevada, or at Charlie Rose’s table in New York City, President Obama is conducting an all-out campaign to try to make us feel a whole lot better about the economy as quickly as possible. “It’s safe to say we have stepped back from the brink, that there is some calm that didn’t exist before,” he told donors at the Beverly Hilton Hotel late last month.Mr. Obama thinks that the way to revive the economy is to restore confidence in it. If the mood is right, the capital will flow. But this belief is…”http://www.nytimes.com/2009/06/07/opinion/07cohanWEB.html

zzzzzzzzzzzz……….zzzzzzzzz

I love the acronym for “Black Swan Protection Protocol-Inflation” – BS PPI, it’s a classic and, I expect, not a coincidence! Bull S*** Producer Price Index. The first two letters apply to almost all govt statistics.

A quick good morning to all yiz from Mother of God. My entire today is promised elsewhere, so my replies to comments left overnight can’t be written right now, but I wanted you to know I have read them and copied them and will speak to them. I am deeply touched and humbled – even a bit astonished – by the beautiful, soul-filled support and care for both myself and my message, I am seriously grateful also for the responses that do engage this Mother of all messages (especially thank kilgores for now…and you’re welcome for the 3 minute L curve and I hope you and others will pass it along widely) – – and – - I am laughing my skirts off at the way Guest67 persists – in spite of having already been advised of his/her errors in apprehension/comprehension – in hilarious attempts to mis-represent, as far as she/he possibly can, my ideas, my words, my goals, and my plan. I trust intelligent readers will recognize that what that person is saying stands actually in stark contradiction to what I say and believe and propose.Back later. Enjoy (the miracle that is) today, and I wish yiz well while I’m gone.This last is for blindman, so don’t anybody else read it, k?God is a real estate developerWith offices ‘round the nationThey say one day he’ll liquidateHis holdings up on highI say it’s all speculationHe may be an absentee landlordThis may be a low rent universeWell the roof may need repairsBut at least the floor is thereAnd the rent is not due ‘til the firstSo save one last dance for the SaviorWhen that final Hail Mary is saidLife is a dancehallThat’s why we’ve got all thoseLittle angels dancing ’round with pinheadsThe Lord Almighty LtdAnd his chosen electSit on the Up on High Development BoardQuoting the Bible as they hoardThe Good Book has a new look, I suspectSo save one last dance for the SaviorWhen that final Hail Mary is saidLife is a dancehallThat’s why we’ve got all thoseLittle angels dancing ’round with pinheadsMichelle Shocked, from Captain Swing (Mercury 1989) / Captain Swing (Mighty Sound 2004)[nothing but great music and lyrics on the entire album, blind seer. u wd luv it]

From today’s New York Times Op/Ed page:Senator Tom Harkin has introduced legislation that would require exchange trading for derivatives. Representative Collin Peterson has introduced a bill that would tighten the regulation of derivatives’ clearinghouses. He acknowledges that his bill is not as strong as he would like but that Congressional politics left him no choice, telling The Times, “The banks run the place.” <——http://www.nytimes.com/2009/06/07/opinion/07sun2.html?_r=1&ref=opinionWell, there’s a refreshing bit of truth from a member of Congress!Dr. Roubini continues to make the point that the measures taken by the administration so far are short of what they need to be because they are creating public debt leverage and allowing private debt leverage to continue while not getting bad assets off bank books, leaving zombie banks intact and rendering opaque the insolvency problems that remain, and by failing to reduce the underlying debt load of overburdened American homeowners by cramming down the principal balance of mortgages. All of these perceived deficiencies would appear to be calculated to placate the financial sector. As Dr. Roubini says, it remains to be seen whether the political will exists to take the additional measures needed to get the economy on the road to real recovery.SWK

Schwarzenegger suggests state consider Flat Tax of 15%I guess he is trying to beat the ObamaNation of Desolation to the punch. “Get yours” before the Feds weigh in. Fasten your seat belts folks – this is just the start.Just to put this in perspective as a retired couple we currently pay about 4% CA State Tax on our Gross Adjusted Income. That means instead of $2,000 per year we would be paying over $8,000 a year! That ought to drive out all the illegal aliens as well as us. Of course we would have to mail back the keys to the bank as the house is underwater at this point.Where is MM CA – this ought to be up her alley.

>Instead of badges, however, they should be required to wear patches indicating sponsorship. That way, it would be easy for the average voter to tell where each elected official has pledged their loyalty. In fact, the patches should be sized according to the percentage of their campaign funds coming from each industry represented.This has to be one of the most refreshing and useful ideas I’ve heard in some time!SWK

Something like that already exists. It is why employers ask their employees to donate to the employer’s preferred candidate. By the way, since the contribution is publicly reported, the employer can check up and see that his instructions were followed.Nice.Capitalizing words like MUST and DEMAND don’t get the job done. The political system is beyond fixing; a “real” solution like debt default is needed. And you are probably a troll sent here to interrupt the discussion.

Sure, I’ll have as much influence as I can. If you consider it playing God, then you just wish I had less influence. The dollar needs to depreciate so we can de-facto default on our debts. Otherwise we will be crushed by those debts, our lives ruined for generations.

Excellent! I agree with SWK. Please repost at the top of next thread.hlowe

Something like “what” already exists? One of us must have a problem with comprehension.Obviously, capitalizing words got YOUR attention. It may not solve anything, but neither does mental masturbation – especially if there are no fireworks at the end.If the politiacal system is beyond fixing (and it may well be), we are truly screwed, and we have done it to ourselves. Under this Constitutional Republic of ours, we have the power to make changes, but it takes effort and willpower. Adopt this simple mantra – only voters can make contributions. Spread the word. Open the discussion. Start a movement….DO something….or not. Just sit on your ass, remain anonymous, point fingers, and call other people names. Troll. Isn’t that funny. Offer a call to action and get accused of “interrupting” the discussion. Well, yeah, I guess effort does get in the way of pontification.Oh, and by the way, who says trying to clean up the political system is mutually exclusive with other actions. Debt default is another subject to be argued on it’s own merits. Got any ideas of your own about how to accomplish that, “Guest”?Independent Contractor

Error Alert: Apologies – it is early and cold here.is intelegence acquired or born with?@ Guest on 2009-06-07 04:49:01intelligence (fem.) – is innate to the animal kingdom and, indeed, must be, appears to be, innate to all life (universal – including the parochials). This relationship appears to be Universal as it is a Principle see in all things and therefore cannot be excluded from its own composition and organization and multiple re-organizations, coagulations, preferences, etc., and nature. I accept then, that intelligence is merely the arrangement of information (elegant). Intelligence is the source of technology – not science (physics) [eg seals and monkeys, et al do technologies, er, also)intellect – supin mode -(masc.) needs to be acquired (potential – kinetic) and appears to be only yet available to man (on Earth). Interestingly, The supin mode is a grammatical category of words that is in between the noun and the verb, referred to as “noun form of a verb”, or “noun origin of a verb”; it usually expresses some kind of intent, and is used with a mouvement verb. In English, it seems to correspond to the “full-infinitive”, where the particle to precedes the verb at the infinitive form. Intellect does physics by dealing with the whole.Considering the above, it is clear that robotics can/will easily and naturally develop intelligence and possibly even intellect (Google – or similar) may lead the race once they realize that heuristic algorithmic programming can be extended fairly easily and * naturally *.There are no neurological seats of intelligence or intellect. Memory is the key factor that could possibly outstrip humans in their race with machines to Universal supremacy. Of course, humans have the capacity of complicity, which will be slightly difficult, but not impossible, for the robot.The human “ësprit” is another matter but once comprehension is reached and the return enfolds, anything could happen – very exciting.Ho hum

is intelligence relative?

Justice Scalia is famous for his pontifications against the notion of the Constitution as a living document and in support of the doctrines of textualism (looking strictly to the language as expressly set forth in a legal document) and originalism (attempting to discern the original intent of the authors of a legal document in using certain language). Unfortunately, it is difficult to maintain purity of such an ideology in the real world of jurisprudence. Like a fundamentalist who strictly construes Biblical verse only when it comports with a pre-established paradigm of reality, Justice Scalia conveniently sidesteps strict construction of the Constitution when it doesn’t suit him.For example, in White v. Illinois, 502 U.S. 346 (1992), Justice Scalia did not hesitate to turn to sources outside the express language of the Constitution in order to construe its meaning. Likewise, in District of Columbia v. Heller, 554 U.S. ___ (2008), the case in which the Court construed the Second Amendment to establish a personal right to bear arms, Justice Scalia did not confine himself to determining the original intent of the Constitution based on its language, but justified the majority decision, in part, by reference to a historical tradition of gun ownership in the United States and the fact that Americans favor hand guns for self-defense, i.e., he treated the Constitution as a living document, interpreting its text in light of his perception of contemporaneous standards, the very approach he condemns in this video.Perhaps the most egregious instance of the inconsistency in Judge Scalia’s positions can be found in Bush v. Gore, 531 U.S. 98 (2000), in which he abandoned his own well-developed “strict constructionist” approach to the Equal Protection Clause, as well as the Political Question Doctrine, to invalidate the method of recounting ballots sanctioned by the Florida Supreme Court and put President Bush in the White House. Where in the Constitution are handguns mentioned? What is the textual basis for interpreting the original intent of the drafters of the Constitution as encompassing a restriction on the means by which state and federal governments may regulate civilian uses of firearms in light of the “well-regulated militia” language of the Second Amendment?Here’s a classic quote of Justice Scalia, from McConnell v. Federal Election Commission, 540 U.S. 93 (2003):”The incremental benefit obtained by muzzling corporate speech is more than offset by loss of the information and persuasion that corporate speech can contain.”Where in the Constitution is the right of non-natural persons, such as corporations, to freedom of speech recognized? What happened to Justice Scalia’s original intent doctrine in this case? It was conveniently sidestepped, with the result of strengthening the power of monied special interests to subvert the underpinnings of our democratic republic by diluting the power of voting citizens, the REAL people that the Constitution is clearly supposed to protect.Clearly, Justice Scalia himself does not hesitate to abrogate the principles of constitutional construction he routinely advocates as a bulwark against misuse of judicial power. Don’t fool yourself: Justice Scalia is a quintessential example of a judicial activist who claims the Constitution is static (“dead”) but interprets it dynamically (i.e., as a “living” document).SWK

Larry Summers weighed in on this topic in 2005http://www.president.harvard.edu/speeches/summers_2005/nber.php”There are three broad hypotheses about the sources of the very substantial disparities that this conference’s papers document and have been documented before with respect to the presence of women in high-end scientific professions. One is what I would call the-I’ll explain each of these in a few moments and comment on how important I think they are-the first is what I call the high-powered job hypothesis. The second is what I would call different availability of aptitude at the high end, and the third is what I would call different socialization and patterns of discrimination in a search. And in my own view, their importance probably ranks in exactly the order that I just described….It does appear that on many, many different human attributes-height, weight, propensity for criminality, overall IQ, mathematical ability, scientific ability-there is relatively clear evidence that whatever the difference in means-which can be debated-there is a difference in the standard deviation, and variability of a male and a female population.”

SWK, dear, your legal briefs are showing A superb critique of Justice Scalia. I am a novice at constitutional law but find it the most fascinating legal subject by far (and with 30 years as a legal assistant, I’ve pretty much seen it all). I’d go to law school just to be able to clerk for a constitutional lawyer, but am too old now, so I must settle for reading the writings of those far more educated than I. Many thanks.

Of course they need not worry … the time to worry is long past.

Perhaps the best skill I took away from the military was the ability to type 70+ wpm. I took office temp jobs while going to college, and one of those led to a job with an investment bank that after a few years led to a job in portfolio management. Go figure.If you aren’t in the Ivies, your money spent at most US colleges is, despite all the positive press about the positive returns of university education, most likely going to provide a negative NPV. Looked at from that perspective, you bet your kids should take jobs to fund their own way. Haven’t you had enough money-losing investments already?I would encourage your kids to temp before flipping burgers, but either alternative is honest work that might actually lead to something.

Every once in a while I would go back to the US to visit friends and family, and I would come across an old school friend who was making $70k per year. We would chat in front of his $450k house, usually right in front of his $70k Hummer, and he would more often than not be holding a $4.50 cup of something from Starbucks.Then I would go flying and see hundreds of McMansions with several expensive vehicles in front of each housing thousands of people just like him.This was so foreseeable that it was painful to watch it pan out.What is truly remarkable, however, is to hear that people are shocked that lenders are now asking for 20% down, as if that is some great imposition. Gee, that was the minimum I had to put down for my condo in NYC about 16 years ago.And then I read that FHA (can you say ‘sub-prime’, amigo?) tells people they can buy a house with as little as 3.5% down. And Treasury is all over the “affordable housing” thing too. Not by insisting that people buy houses they can actually afford, rather by twisting the arms of financial institutions to keep pumping out loans.The white swan we all know is in the room is the rapid evolution of the 20th century US into the 21st century version of 19th century Argentina morphing into 20th century Argentina.How’s that Hopey-Changey thing working out for you?

今晚大戶玩野,大家小心…….

Yes, I agree with all of your second paragraph. But with regards to resistance – resistance to any construct will only succeed in identifying and reinforcing the construct. Resistance implies force against something; in a way it legitimises what you are resisting. Better not to resist and validate the paradigm; better, in my view, to construct a new paradigm.Nice discussion, BTW.

The Economy Is Still at the BrinkPublished: June 7, 2009WHETHER at a fund-raising dinner for wealthy supporters in Beverly Hills, or at an Air Force base in Nevada, or at Charlie Rose’s table in New York City, President Obama is conducting an all-out campaign to try to make us feel a whole lot better about the economy as quickly as possible. “It’s safe to say we have stepped back from the brink, that there is some calm that didn’t exist before,” he told donors at the Beverly Hilton Hotel late last month.Skip to next paragraphEnlarge This ImageRelatedTimes Topics: Credit Crisis — The EssentialsMr. Obama thinks that the way to revive the economy is to restore confidence in it. If the mood is right, the capital will flow. But this belief is dangerously misguided. We are sympathetic to the extraordinary challenge the president faces, but if we’ve learned anything at all two years into the worst financial crisis of our lifetimes, it is that a capital-markets system this dependent on public confidence is a shockingly inadequate foundation upon which to rest our economy.We have both spent large chunks of our lives working on Wall Street, absorbing its ethic and mores. We’re concerned that nothing has really been fixed. We’re doubly concerned that people appear to feel the worst of the storm is over — and in this, they are aided and abetted by a hugely popular and charismatic president and by the fact that the Dow has increased by 35 percent or so since Mr. Obama started to lay out his economic plans in March. But wishing for improvement and managing by the Dow’s swings are a fool’s game. (Disclosure: One of us, Mr. Lewis, was convicted on federal charges of stock manipulation in 1989, pardoned by President Bill Clinton in 2001 and had his lifetime trading ban overturned by the Securities and Exchange Commission in 2006; documents relating to the case can be found at sblewis.net.)The storm is not over, not by a long shot. Huge structural flaws remain in the architecture of our financial system, and many of the fixes that the Obama administration has proposed will do little to address them and may make them worse. At another fund-raising event, for Senator Harry Reid, President Obama said: “We didn’t ask for the challenges that we face. But we are determined to answer the call to meet those challenges, to cast aside the old arguments and overcome the stubborn divisions and move forward as one people and one nation …. It will take time but I promise you, I promise you, I’ll always tell you the truth about the challenges we face.”more”:http://www.nytimes.com/2009/06/07/opinion/07cohanWEB.html?_r=1

Professor please say good morning (at least) so we can start a new thread.

@SWK…you appreciated my simple suggestion that we require members of Congress to wear emblemns of sponsorship denoting their major sources of campaign funds, i.e., showing the world where their loyalties really were pledged. YOu noted above the following:”Here’s a classic quote of Justice Scalia, from McConnell v. Federal Election Commission, 540 U.S. 93 (2003):”The incremental benefit obtained by muzzling corporate speech is more than offset by loss of the information and persuasion that corporate speech can contain.”"Is this the case that essentially said money is speech?I believe this gets straight to the heart of the matter. It is all about money, and it is all about giving ‘corporations’ equal LEGAL rights with individual citizens. This is insane, and ultimnately leads to where we are today. What constitutional basis is there for this?As a simple man (some may say simpleton), I also have some opinion about writing laws. I have long held the belief that when a law is drafted there should be an introductory paragraph about why this law is needed, what the intent is, and what is expected to be accomplished with it’s passing. The only reasons our laws tend to be so ambiguous that I can figure is so that lawyers (the primary bill writers) and their clients can game the system for personal reward. Am I wrong?Independent Contractor

Thanks, AJ. Wish you lived in Florida. I could use a good legal assistant. SWK

Can’t We All Just Get Along?A comment made by Rodney King in the aftermath of his police brutality lawsuit. It seems to be Obi’s HOPIUM coated lollypops message he would like everyone to suck on. If life was this simple the world would have greened a Golden Age a long time ago.

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Can I also assume that you thought that you had taxation through representation and that your political classrepresented the people?Yes, really.Ho hum