http://online.wsj.com/article/SB124451592762396883.htmlAn interesting breakdown of Obama’s claim of jobs saved. It seems that the claim is purely political maneuver.

What was that that that Obama said again?I hear a distant ocean

it should have never existed.

Ah, so it appears Obama the Oracle was just reading re-hashed teleprompt first read by Bush the Liecaster. As John Caruso said in “The Habit of Skepticism,” after analyzing the Obama/Bush Cairo speech:Yes, it was quite a speech. After reading it a second time I think I can almost begin to understand the ecstatic praise so many liberals offered Obama after they heard it (which I admit I first thought was not only embarrassing but dangerously naive). After all, who could fail to respond to such an intelligent, thoughtful, nuanced, articulate, compassionate attempt to begin a genuine dialogue with the rest of the world? Honestly, I think even the most unrepentant leftist reading these words with an open mind would have to admit that they show just how different Barack Obama is in every imaginable way from George W. Bush—and more generally, the huge differences between Democrats and Republicans.There’s just one problem: none of these quotes (cited by Caruso) were actually taken from Barack Obama’s speech. Not a single word. They are quotes from an American president, though. No points for guessing which one at this point, but if you need a hint I can tell you that he was in office from January of 2001 through January of 2009…As these quotes make clear, there’s scarcely a sentiment in Obama’s Cairo speech that wasn’t already spoken by George W. Bush. And yet when Obama offers the same platitudes—sometimes in the exact same words—credulous liberals are seized by fits of swooning and enraptured praise just shy of glossolalia. Obama’s speech wasn’t some epoch-defining moment of transformation from a “transcendent leader”; it was a moment of polished stagecraft from a consummate salesman for American empire and corporate capitalism. It was the same old wine in a lovely new bottle, from someone who’s already shown us repeatedly that his words aren’t matched by his actions. And had it been their arch-nemesis George Bush giving this speech instead of the Anointed One, they’d have had no trouble seeing that.One can only hope that some day these people will embrace the habit of skepticism for all politicians, not just the ones on the other side, and finally and fully accept that fine words alone mean nothing at all—no matter who speaks them.http://www.distantocean.com/2009/06/the-habit-of-skepticism.htmlAs Voltaire said: “It is difficult to free fools from the chains they revere.”

HIGH PRICED OIL NOT ONLY HELPS THE RUSSIANSThink about it, the higher oil gets the more money the Middle East gets and that can mean more food for their massive poor populations living in a sandy land that can grow hardly no food. The terrorists [is that term politically correct? LOL] come from the poor groups and they may likely get fed better with higher oil prices; which means they likely won’t be so grumpy and take it out on America.The grumpy ones are the Americans on “staycations” because the $3 gas is crimping their budget.

U.S. Reporters Sentenced to 12 Years Labor in North KoreaJune 8, 2009 — North Korea has sentenced two American reporters to 12 years of hard labor for allegedly crossing its border with China. The sentencing has deepened the communist country’s dispute with the U.S. over nuclear weapons and missile testing.The reporters, Laura Ling and Euna Lee, were arrested by North Korean soldiers on March 17 near the Chinese border. According to the Associated Press, it is unclear if the reporters had actually crossed into North Korea or if North Korean guards had crossed into China.Ling and Lee are reporters for the Al Gore-affiliated Current TV website and were in China to film a documentary on North Korean refugees. At the time of their arrest, South Korea’s Yonhap News Agency said that the pair “were taken by North Korean soldiers along the Tumen River on the Chinese border while filming the North Korean side.”The pair have now been found guilty by the Central Court in Pyongyang of committing a “grave crime” against North Korea, according to the state-run Korean Central News Agency. They were then each sentenced to 12 years of “reform through labor” in a North Korean prison facility.Little is known for certain about conditions in North Korean prison camps, but South Korean missionary Chun Ki-won told the Associated Press that prisoners “frequently face beatings and other inhumane treatment while being forced to engage in harsh labor.”http://www.thenewamerican.com/world-mainmenu-26/asia-mainmenu-33/1208-us-reporters-sentenced-to-12-years-labor-in-north-korea

Is Princeton the government’s official resting home for temporarily displaced politicians and economists?According to Wikipedia, James Albert Smith “Jim” Leach is now the John L. Weinberg Visiting Professor of Public and International Affairs at the Woodrow Wilson School of Princeton University.Says Wiki, Leach authored legislation on a range of issues including:· the creation of an international AIDS Trust Fund,· debt relief for the world’s poorest countries,· authorization of an International Monetary Fund quota increase,· making the Peace Corps an independent federal agency,· requiring the federal government to use soy ink,· prohibiting Internet gambling,· restraining federal employee growth, and· redressing certain Holocaust asset losses.”The legislation he is perhaps best known for is the 1999 Gramm-Leach-Bliley Act, one of the seminal pieces of banking legislation of the 20th century.”http://en.wikipedia.org/wiki/Jim_Leach

California to eliminate funds for recent contractsSAN FRANCISCO, June 8 (Reuters) – California Gov. Arnold Schwarzenegger, facing a state budget gap of $24.3 billion, on Monday ordered a halt to funding for state contracts on everything from pencils to office space.His order applies to all contracts signed since March 1, excluding those for public safety, and bars new contracts. Projects funded by bonds and federal stimulus dollars are also exempt.The state is expecting the move to generate savings of $1.35 billion, said Amanda Fulkerson, a spokeswoman for California’s State and Consumer Services Agency, which oversees the state’s contracting and purchases.California’s state agencies and departments on average spend about $9 billion each year on goods and services. In the current fiscal year, California entered into 36,498 contracts for goods and services from a variety of companies, including law firms, fuel and computer software providers and consultants of various kinds…Schwarzenegger also wants to restrain future state spending. His order directs state departments to submit to the Department of Finance plans to cut their future spending on contracts and purchases by at least 15 percent no later than 30 days after the state’s 2009-2010 budget becomes law.”Regardless of the fiscal situation, they need to dial back,” said Schwarzenegger spokesman Aaron McLear. “From our standpoint, every California household and business is cutting spending as much as possible. We need to do the same in state government.”Schwarzenegger’s order comes amid rising concern over California’s finances on Wall Street, which has given the state the lowest general obligation debt rating of any U.S. state.http://www.reuters.com/article/bondsNews/idUSN0832492220090608

Exclusive Interview with Future Prediction Expert Gerald CelenteTerry EastonHumaneventsSat, 06 Jun 2009 22:01 UTCIt’s the end of the world as the Greater Depression hits after 2010′s failed “W-recovery”Human Events had the opportunity to interview forecaster extraordinaire Gerald Celente, President of Trends Research Institute, several days ago — and the future he predicts looks bleak indeed. In fact, as Mr. Celente sees it, the Great Depression will seem like a mild recession as what waits for us in 2011 hits with the force of a Katrina financial hurricane.In case you’re wondering who Mr. Celente is (if this is still possible), he’s appeared — along with his predictions — on Oprah, CNBC, Reuters, NBC, PBS, BBC, the Glenn Beck Show — the list goes on an on. His Trends Report has been successfully predicting the major future trends impacting our lives for 3 decades, including calling the dot com crash back in the 1990′s.Mr. Celente’s forecast on our impending future is based on his study of history. He says we are bent on destroying our currency, bankrupting our government, and unleashing a violent citizen-against-citizen eruption as the economy collapses into chaos and marshal law fascism.Quite a claim. And God help us if he is right — again.”We’re sounding the alarm about the ongoing downward economic cycle”, Gerald told Human Events. “In 2002, we predicted that the collapse of the American empire would fall like the World Trade Center in a thunderous crash — in slow motion before our eyes. And now it’s happening.”Mr. Celente follows over 300 trends: family, crime, war, education, consumer & business patterns which TRI synthesizes to predict the future.”The US is becoming a shadow of what it used to be. Take education for example. The OECD group of developed countries ranks quality of life, education, health care of its member nations. The US is now falling down the table as one piece of data after another shows America is in decline. We’re no longer Win, Place or Show in quality of life, education, longevity… all the essentials where we used to be #1. And our economic underpinnings are failing.”Mr. Celente puts part of the blame squarely on the federal government, and especially FED Chairman Bernanke and Treasury Secretary Geithner, and warns us not to believe a word they say “They’re the same people who didn’t see it coming – are now telling us the worst is over, that ‘green shoots are spouting upwards’. But they were wrong before. They’re wrong on this too”.”When you pump out tons of money manure into this system based on nothing – printing press paper, it’s like giving a patient with a chronic disease a pain killer — it won’t cure the patient.”"But let’s go beyond the economics. Our whole Constitution has been abrogated. The president simply writes an Executive Order to do whatever he wants. Nationalize the banks, take over the insurance industry, automobile industry, health care industry…None of it is constitutional.”When did the problem begin?”After Dwight Eisenhower — our last great president — the Allied Supreme Commander in WWII – who warned us of the dangers of the military-industrial complex. We’ve become completely corrupted.”"We became enmeshed in foreign entanglements. We forgot the lesson of England – and how their global imperial overreach destroyed their empire.”Of course, the average American doesn’t think that we’re an empire. We’re not like the classical empires of old – raping, pillaging and stealing the wealth of invaded peoples. What does Mr. Celente have to say about this?”What we’re doing is squandering our wealth, our resources, the genius of our scientists and the future of our children. We’re over-consuming in every way — but under consuming our education and focusing on the quantity, not the quality, of what we’ve built. So much of today’s culture is counter-productive to what American built it’s foundation on — a high-quality producing nation building things, not pushing paper.”And we’ve become not only a consumer society but a low-quality consumer, as well as the most obese society in the world, eating low-quality high-carb, high-fat processed foods.”"We’re now focused on the lowest cost, the lowest common denominator. Not the best and highest quality. We advertise buying cheapest as the most important thing.”Mr. Celente argues that we’ve socially destroyed our productivity and have abandoned it to other countries.”And we have fallen into a moral vacuum. Look at how people used to dress. Smartly. Not like the cheap hoods of today. Fashion now copies the lowest common denominator. Our children wear clothes without belts, and shoes without shoelaces, to copy the styles of the violent criminals — who have these items removed by the police in prison so they can’t be used as weapons. That’s become the fashion statement of today’s youth. Like rap music from the ghetto. We’ve become an underdeveloped nation.”Mr. Celente observes that “people used to think of America as that shining beacon on the hill with ‘liberty and justice for all…’ .” So what happened?”Morality is missing from our American public consciousness. Start with Wall Street. It’s run by a criminal gang. The only question is ‘how much can you make, how much can you steal?’ At the bottom, the welfare recipient says ‘how much can I take?’ And the government is in on the take.”"Morality is absolutely the issue. We had a government where we were taught all our lives that we are a free enterprise system — so we depend on our own strength, our entrepreneurial ideas. The world used to look to us for our innovative spirit.”"This is being destroyed before our eyes. And our government has become more interventionist than any of the old empires could imagine.”"Our society is now based on consumption — 70% of the GDP. This is more than we produce. So to pay our bills, we use funny money invented in 1913 with the creation of the Federal Reserve and the fiat dollar based on credit (debt) — the fractional reserve system. In 1930′s you bought what you could afford. You saved up to buy your home. The easy credit of the 90′s has destroyed the country. Now you borrow what you can’t afford – and the nation’s done the same.”Mr. Celente predicts the use of printing press money will cause the “greater depression”.”I predict continuing deflation of real estate, followed by extreme currency inflation — ultimately becoming worthless. This is why gold is the only honest money — the government can’t counterfeit it. Look for it to top at least $2000 an ounce”"Our unemployment numbers are also bogus. For example, the construction industry is really above 20% , and the government is creating low-level jobs, not real jobs. The US total real unemployment is more like 16%. Before the crisis is over, it will reach 25% – great depression numbers.”"When people have lost everything they have nothing to lose. Violence and crime will explode. Look at the OECD figures. The number of people not graduating from high school is exploding — they’re wacked out on drugs. New York City will look like Mexico City in a few years. The collapse of morality from top down — and especially in the government — makes it inevitable.”"What can we expect in the coming future”, we asked.”Washington has declared ‘Economic Martial Law’. Wall Street is putting Main Street out of business. The key to watch is Christmas sales. They’ll fail. Christmas will be when reality sets in.”"Another trend we wrote about over 2 years ago was the tax revolt. What’s happened? Tax revenues have collapsed by 33%. And the wealthy people are leaving.”"We predict state secessionist movements will rival the breakup of the Soviet Union.”"The only way we can ever recover is to return to individual community, personal responsibility, local government. Next, average will disappear, Quality will return. Look at GM. Junk cars financed by junk bonds. Now owned by a junk government. As a consumer, don’t consume quantity — consume quality.”"How will it all end?”, we queried. Will the dollar survive?”The dot com bubble should have burst and gone away in a short sharp recession. But the boys at the Fed re-inflated the economy by lowering interest rates to a 46 year low — and in turn created the real estate bubble — much bigger than the dot com bubble. “”Now they’re creating the bailout bubble — which will ultimately dwarf the real estate bubble. It will cause the implosion of the global economy world wide — which will not be able to be repaired by creating yet another bubble. Every time the government fails, it tells a bigger lie and then a still bigger lie.”"These previous bubbles were not allowed to pop — but they didn’t destroy the infrastructure of the country. This bailout bubble will.”"But this bubble will be the last one. After the final blowout of the bailout bubble, we are concerned that the government will take the nation into war. This is a historical precedent that’s been done over and over again.”"So, it’s not that the dollar that will survive. We may not even survive. Look at the German mess after WWI. It gave rise to Fascism and WWII. The next war will be fought with weapons of mass destruction.”

you better trademark that quick, buddy. the bumper sticker alone will make you a millionaire…

All I know is I used to be happy here, excited even to live in the land of the free where I had a handle on my life—where I had real choices. I was content to live with the results of those choices, because they were mine.But, now, I feel trapped, almost hopeless. Trapped by a government that uses me as a powerless rabbit to be chased and skinned by financial hunters, and then blocks all the exits. If I put my money in savings it is at high risk; in equities, high risk; in bonds, high risk; in cash, high risk; in a 401(k), high risk; in my home, high risk; in a rental property, high risk; in education, high risk; in small business, high risk; in gold stocks, high risk… And even gold and company pensions are becoming high risk.And all the while, as I and others try harder and harder–spending more time on the internet, reading, researching, attending seminars, listening to Roubini–to make better financial choices, the net worth for most of us deteriorates, going lower and lower along with the level of our hopelessness and despair. At the same time, the ‘investment’ bankers, with their control of the money supply and the Congress, grow richer and richer as they manipulate and control every aspect of our financial lives from their insider positions. Yet, they toil not, neither do they spin.Americans are in a financial box canyon. With all the exits blocked. Either we fight for our very economic survival, and fight to the death to regain the reins of our government—or we will be become as slaves to the moneylenders, in the land our forefathers bequeathed us.Financial life for the average American now rests on a throw of the dice, and the dice are loaded.

I have to say I agree with him on many of his points. I wish I didn’t.

The TELL will be the tax receipts.If they go up, then his programs are having a positive effect.IF the continue to go down, which is what I expect, then we would have been much better off if they had just sent us the money direct.

I THINK EUROPE IS ABOUT 6-12 MONTHS AHEAD OF AMERICA IN THIS RECESSION/DEPRESSION/STAGFLATION OR WHATEVER THE HADES WE CALL OUR CURRENT ECONOMIC MESSNote this UK news article calls it a “depression”….won’t see that name for it on American mainstream media. Also the blog above refernces a 16% unemployment rate, I believe it was a 16.7% unemployment rate calculated with severely underemployed added in. But……America’s workforce is haunted by a mass new labor class like it never has in past recessions, called contract workers. When contractors are fired, they get no unemployment and the unemployment rate doesn’t count them either….they remind me of unemployed college students and the masses of give-ups, as they aren’t counted either.Check out the UK article on the current economic destruction of Europe, if you’re like me, it will make your hairs stand up on your neck [it sounds too much like present America]:http://blogs.telegraph.co.uk/ambrose_evans-pritchard/blog/2009/06/08/europe_swings_right_as_depression_deepens

we are all slaves to our own vibes. We have been a land of plenty at others expense.

Can you please elaborate on your all caps comment, particularly what the word “ahead” means relative to situation(s). Thank you in advance.

We have had phony food for quite a while now.Think TWINKIE. We ARE what we EAT !

Some post here reminded me of this quote from Buffy. It kind of made a point on two sides. The thing is, why can’t people really see who Caesar, etc are, and who the Indians are.”I just can’t take all this mamby-pamby boo-hooing about the bloody Indians. You won. All right? You came in and you killed them and you took their land. That’s what conquering nations do. It’s what Caesar did, and he’s not going around saying, ‘I came, I conquered, I felt really bad about it.’ The history of the world isn’t people making friends. You had better weapons, and you massacred them. End of story.”

I’d say others have plenty at our expense. Think Goldman

THE HORROR, Bond traders are white with terror | May 29, 2009Gold BattleThrilla in Manila!I want to talk about the bond market today as it relates to gold. And take you into the very real mind of a very real bond trader. Looking at a bond and gold chart is all very interesting if you like watching ivory tower movies. I do. But movies are not the whole picture. Experiencing the market thru the eyes of a real professional bond trader gives you a sensation of reality, in this case a most horrifying reality, that no chart can give you. I’m going to take you into the mind of a major bond trader who is a very good friend of mine.What’s happening in bond land? The latest US govt bond auction was for $110 billion. Two years ago the average monthly bond auction total was $5 billion, $10 billion, numbers like that. The US govt finances its debt with bonds. A $2 trillion deficit means $2 trillion in new bonds needs to be issued. Approx. $200 billion a month.I want to take you inside the mind of a primary dealer. These are the approx. 20 dealers that have contracts with the US govt to market their bonds. The way the deal works in the govt’s mind is: “You buy our bonds and sell them. You can short t-bonds going into the auction and bag a nice profit for yourself. But if you don’t sell the bonds to your clients, guess who owns them? You do! If you don’t like it, no more primary dealing for you, got it? And maybe we aren’t so keen to hand over anymore bailout money or allow fraud accounting of your OTC derivatives. So play ball, or we take you out.”I spent two hours yesterday meeting in person with a very good friend of mine who is retired as the largest govt bond trader in Canada for one of the primary dealers. He still manages $1.5 billion as a side gig. His minimum trade is $5 million. He looks like a pitbull and uses 4 letter words like Mr. Bernanke uses a greenback photocopier. He carefully detailed to me the horrors that began roaring thru the bond market, horrors that are growing, since the shocking $110 billion US govt bond auction was announced for this week.The bottom line is: There isn’t enough money to soak up all the govt paper screaming down the pipe. The $300 billion in total that Mr. Bernanke committed to buy the bonds over multiple auctions, is a drop in the bucket. It’s not enough.There is a daily competition for money in the world’s bond markets. The US govt bond is the King Daddy of those markets. The primary dealers will do WHATEVER IT TAKES to sell those bonds. The primary dealers also carry tremendous power against the govt. Let’s have a listen to their response to the Gman’s “it’s my way or the highway”. Listen carefully. “How would you like it, Mr. Gman, if we announced that ” sorry, we can’t find buyers for your triple A rated toilet paper, we’re going to announce to your public that you defaulted. Let’s see how you do when we cut your credit cards up. You tell us what to do? Wrong. Go ahead, take away our primary dealerships. We’re all standing together on this. We give the orders, not you. Got it?”What might those orders be? One order could be: “Your $300 billion commitment to buy T-bonds ain’t gonna cut it. Try $3 trillion. Now get to your greenback photocopier start button and start pushing it. We’ll tell you when to stop.”While that action may be in the pipeline, as of today the ACTIONS taken in the bond market by the players are what is important. And those actions, believe it or not, are to buy bonds. Money is starting to come out of general equities, aka the stock market, and into bonds. Money is not coming out of bonds, it’s going in. This is what the chartists don’t understand. Money isn’t just trickling in, it’s pouring in. But it’s not enough to meet the govt’s skyrocketing demand for money!The losses in the bond market have pounded bank capital ratios. Balanced funds must now sell stocks and buy bonds to meet their mandated percentages. Losses on corporate bonds bought over the past year are staggering. Many hedge funds leveraged their purchases and are now in dire trouble.I have warned you all repeatedly about taking delivery of a portion of your stock certificates. Securing your gold. Holding 1 to 12 months expenses cash outside the banking system.The bond market auction was this week. Again, I want you to FEEL what the bond traders are feeling. They are white with terror. They aren’t looking at some chart in internet candyland, they know there isn’t enough money to buy all the govt bonds.Where we appear to be headed is for a test of the Dow lows. You had better pray those lows hold. Because if they don’t, your money could become a target of the govt as its demand for money skyrockets, while the supply of money tanks. The ideal situation is a fast crash towards those lows with perhaps either the Dow transports or the industrials breaking, but not both. While that happens, the bond market must rally.The nightmare situation is the Dow just slowly rolls down, and bonds mount no major rally. If both the Dow transports and the industrials break the lows, the global banking and brokerage system will likely be closed soon after that, the first of many such closes. Short selling would likely be banned. A national sales tax would be simply one of a zillion money grabs.I do things in moderation. If the Dow industrials and transports break the lows, I would seriously consider moving 5% of your IRA and 401k money out and into physical gold on the next correction in gold. Looking back, you should have bought gold bullion in a pyramid formation instead of opening IRA and 401k accounts. It’s too late to turn that clock back. It’s a small number, but you may not need that much insurance than 5% given the magnitude of the dangers at hand. Nothing is fixed. Nothing is repaired.If Ben Bernanke fails to drastically increase the Fed’s purchases of bonds, another vortex of asset destruction is a near certainty, as the primary dealers will exert mindblowing pressure on the managers of other assets to move those assets into bonds. Some of the movement is being triggered automatically thru asset allocation algorithms. Let me repeat: money IS not just moving into bonds now, it is POURING in. But… that money is not enough to soak up all the bonds the govt is issuing.Most money managers are only just this week starting to understand this reality. And what kind of horrific situation this is. If Mr. Bernanke steps forward and announces massive new bond purchases, that could disintegrate the USdollar and send gold to $1200 in weeks or even days. On the other hand, if he doesn’t, the primary dealers have no choice but to order a massive liquidation of equity and commodity assets to feed the Gman’s maniacal demand for money. Picture a black hole. Everything is being sucked into it. That is the US govt’s demand for money. This week’s announcement of the $110 billion auction is literally seen by the bond traders as announcing that a real black hole has opened up on a sandy beach. EVERYTHING is slowly being sucked in. Even the sand. And it is accelerating fast in a massive deflationary vortex. As the govt gets the money, it is BURNED. As the sand (and people) pour down the hole, even gold could get sucked in as everything is sold to feed the Gman. Here’s the gold chart, the weekly. The chart looks phenomenal. Indicators almost all right in the middle “sweet spot.” Perfect to activate the head and shoulders.Sadly, the massive increases in the commercial short positions of gold and other commodities over the past few weeks suggest it could be the deflationary vortex that emerges the victor of this clash of the titans. Will gold soar or melt? I wouldn’t bet 10 cents on one scenario exclusively over the other. I want my subscribers to be 100% prepared for any and all scenarios. Remember the tools Mr. Bernanke has laid out. After the purchase of the t-bonds fails, (and it is badly failing right now) the next step is gold revaluation. If you think the United States govt is going to stand around like a wet noodle while their t-bonds are liquidated and watch all “their” money pour into gold without taking action to prevent that, please report to your new home on Fantasy Island. And don’t expect there to be any gold there for you when you arrive. Own gold stocks bought into weakness and take delivery of a portion of your certificates. Own gold jewellery. Secure your gold before the govt secures it for you. Jim “Mr. Big” Sinclair, the world’s largest trader of gold in the last bull market, feels gold could begin a skyrocket move to 1200, within 3 weeks! Jim “Mighty Man” Rogers feels gold could fall to 700! The bottom line right now is the bond market will decide the victor. The good news is Mighty Man will be a buyer at 700 if it happens. If he is correct, another massive wave of asset destruction is just around the corner, one that could require in excess of $50 trillion in money printing to cover the announced otc derivatives losses that will probably follow. The IMF may have no choice but to start a massive liquidation of its gold very quickly if the bond market doesn’t reverse. They have no money and they may be enlisted to buy US govt debt. This is the clash of the titans and the public, who has just loaded up on stocks in time to be killed, is on the verge of being totally obliterated. Regardless of which way this plays out. Ironically, as money pours out of other assets to buy US govt bonds to feed US Gman Friar Tuck, it could have the effect of a giant short position on the USD being unwound, triggering a massive USD rally. The scenarios for huge price movements in all the major markets in all kinds of directions is arguably stronger right now than ever in financial history!This is the ultimate nail biter, the Financial Thrilla in Manila! Will it be Jim Sinclair’s bull rocket, or Jim Rogers’ sledgehammer? I’d like to leave you with an even bigger question for the weekend, and that is:Are You Prepared?May 29, 2009Stewart ThompsonGraceland Updatespdateswebsite: http://www.gracelandupdates.comehttp://economicedge.blogspot.com/200…hite-with.html

Looks like something is going to happen soon. Volume on the Dow ($INDU) has really been petering out quite markedly. Not surprising – given that $INDU has climbed to its 200-day moving average. Sure looks like a lot of investors don’t believe that a significant breakout above that level is likely.Much more interesting is what’s happening with the yield curve. Take a look at yields on 2-year notes by seeing $UST2Y. There has been a very sudden jump during the first week of June.What does it all mean? Well if people are selling out of the credit market and planning to go into stocks – you’d never know it by the decreasing volume on $INDU. It sure points in the direction that investors plan to go elsewhere. And it raises significant questions about whether global investors who have been buying US debt have finally decided to march to a different drummer. Remember, many of these people were already buying short-term debt because of fears about the long-term credit status of Uncle Sam. Have they now decided that even short-term prospects look grim (and/or that the future of the US dollar is not a pretty picture).Should be interesting to see where this all goes.PeteCA

WOW ! What’s this film rated?

Federal Reserve Hiring Lobbyist for Political War by Thomas R. Eddlem | June 9, 2009Quote:The Federal Reserve caused the current economic crisis by suppressing interest rates and creating the housing bubble, Texas Congressman Ron Paul, Euro Pacific Capital president Peter Schiff, and others have charged. And now there’s finally been enough political push-back for the damage the Federal Reserve has wreaked that the Fed will be hiring a lobbyist.The Federal Reserve’s choice of lobbyist is Johns Hopkins University Vice President Linda Robertson, who serves in a public relations role at the medical school. Robertson served as an aide on Capitol Hill in the House of Representatives. She served throughout the Clinton administration as a senior advisor to three treasury secretaries, and won the Treasury Department’s highest award, the Alexander Hamilton award. Her partisan service in the Clinton administration could be a sign that the Fed will tie its future to the Democratic Party, which is currently in charge of both legislative chambers of Congress and the White House.Robertson has experience lobbying for another Ponzi scheme besides the Federal Reserve, but it is not something she’d likely want to boast about. Bloomberg.com reveals that she “headed the Washington lobbying office of Enron Corp., the energy trading company that collapsed in 2002 after an accounting scandal.” Not surprisingly, Robertson’s Johns Hopkins biography omits her lobbying efforts on behalf of Enron.Could the Fed be anticipating an Enron-style collapse? The political tides seem to favor a political debacle for the Fed, and even some former Fed officials are realizing it. “Some members of Congress think there are votes in attacking the Fed” after it “unnecessarily and unwisely entangled monetary policy with fiscal policy,” former St. Louis Fed President William Poole told Bloomberg.com.

May you live in interesting times, Pete.

just the “expectation” that the system (stimulus/propaganda/green shoots/debt/smooth talkin CNBN presenters.. etc etc) will fail is enough to crash everything..the Question is, how do TPTB react to thisusually it means war, but with various WMD i dont see it as a plausible alternativeMaybe God will provide us the solution?? Super Solar Storm 2012 ala Carrington Event

The Americans voted for change, and didn’t get it. Now the Europeans have voted for change. Will they get it?Here’s where the rubber hits the road.

Great quote. You’ve gotta love Voltaire….SWK

Besides the situation on grassroot level Eurozone is currently in fact very much better than grassroot level USA. Likewise even Australia is a lot better than USA, on that level. But you would not hear that from Evans-Pritchard – investors might lose their faith in US and UK.

hmmmpphh i take my words backhttp://www.haaretz.com/hasen/spages/1089550.html’Proud Hungarians must prepare for war against the Jews’By Yehuda Lahav”Given our current situation, anti-Semitism is not just our right, but it is the duty of every Hungarian homeland lover, and we must prepare for armed battle against the Jews.”This quote appeared in a newsletter published by an organization calling itself “The trade union of Hungarian police officers prepared for action”.Hungarian law allows police officers to organize in trade unions of their own. The union – by its own definition – aims to protect the professional interests of those unionized, and not to partake in political activity.However, the law does not prevent the union from distributing a newsletter, the content of which is at the discretion of its editor, and its editor alone.

If people sell both stocks and bonds, they raise cash in the form of actual dollars. Dollars held for short duration would normally be placed in short-dated treasuries.If you mean can both the short-end and long-ends of the yield curve crash at the same time as the stock market, I think the question would be systemically then, what happens to the dollars?Yields would rise on the short-end of the curve, so dollars would need to be afraid of devaluation that exceeds the higher short-end yields in a short-term interval (like 30 days). That implies a dollar correction in a brief time-span.So, my terse analysis is that a simultaneous crash of stock and bond markets implies a US dollar crash. Under that scenario, we could see oil, gold and other currencies rise sharply as stocks and bonds tank. I don’t think such a situation is sustainable, though. This wave of crashes would leave actual dollars in the hands of those who sold those assets. Those dollars would need to go somewhere, and after the “hot potato” was passed around for the duration of the crash, the devalued dollars would find a home in the form of wiping out the dollar debt of foreign banks and commercial borrowers, followed by reinvestment into stocks and/or bonds.I guess my short answer then is yes, I think that both markets could fail at the same time, but the pressure needs to be relieved somewhere. My long answer is that the pressure gets relieved in a dollar devaluation that ends up resulting in a nominal increase in one or both of the markets, with a true value decrease (due to hyperinflation) in one or both markets.–Brian

I said you are fine.

They will. But they’re running up against the economy, and believe it or not, it’s bigger than they are.

Fed’s Dollar Lie Called Out by Victorious Merkel:Commentary by Amity ShlaesJune 9 (Bloomberg) — The capitalist U.S. is nationalizing its biggest automaker, even as it pretends not to do so. Europe, for its part, is moving right.This week’s elections for the European Parliament are an example of Europe’s new mood. In Germany and France, voters supported incumbent conservative or centrist parties. In Spain and the U.K., they punished center-left parties that are at the helm. All over, the left got trounced.“Social Democrats get hammered for their belief that the voter honors throwing taxpayer money at failing corporations,” Wilfried Prewo told me by e-mail. He is chief executive of the Hannover Chamber of Industry and Commerce, which represents an area of Germany that includes Volkswagen’s home.Days before the vote, German Chancellor Angela Merkel complained publicly that the European Central Bank had bowed to international pressure to buy up assets, mimicking the U.S. She disapproves of the Federal Reserve’s dumping of cash into the global economy…http://www.bloomberg.com/apps/news?pid=20601039&sid=aHPOojUS91eQ

Hey, Rich/MA! This one’s for you, Chainsaw!I’ve got a new populist economics hero – and he’s not a happy camper . . .http://www.youtube.com/watch?v=-NWFA6g2x-4&feature=player_embeddedIf he’s got a lot of friends with as much information and as much resentment, America is in for some very interesting changes ahead.

Sounds a bit like “The emperoe and his new clothes” story.

wonder how many cars were sold in USA during May 2009?According to this article:http://www.bloomberg.com/apps/news?pid=20601089&sid=aYJ3MyMZbA2k&refer=china…in China 829,100 were sold during last month. Maybe that is why GM is doing well there while they are sucking cash from the US government.

Remember last week’s jobs report–the one that started the market buzzing about a V-shaped recovery? Well, according to Harvard economist Jeff Frankel, it wasn’t so great, after all.Instead of focusing on changes in actual jobs to measure the strength of the labor market, Frankel focuses on “hours worked.” He does this because companies under pressure often reduce hours and overtime before they cut jobs. Similarly, when the economy turns up, companies often start adding hours and overtime before they start hiring. Thus, total hours worked provides a more real-time view of the state of the economy.And how did total hours worked look in May? Lousy. Specifically, according to Frankel, they did not suggest any sort of a turn in the labor market.Total hours worked is equal to the total number of workers employed multiplied by the average length of the workweek for the average worker. The length of the workweek tends to respond at turning points faster than does the number of jobs. When demand is slowing, firms tend to cut back on overtime, and then switch to part-time workers or in some cases cut workers back to partial workweeks, before they lay them off. Conversely, when demand is rising, firms tend to end furloughs, and if necessary ask workers to work overtime, before they hire new workers. (The hours worked measure improved in April 1991 and November 2001 which on other grounds were eventually declared to mark the ends of their respective recessions.) The phenomenon is called “labor hoarding” and it is attributable to the costs of finding, hiring and training new workers and the costs in terms of severance pay and morale when firing workers.Unfortunately, as reported by Forbes, pursuing this logic leads to second thoughts about whether the most recent BLS announcement was really good news after all. The length of the average work week fell to its lowest since 1964 ! The graph below shows that, not only did total hours worked decline in May, but the rate of decline (0.7%) was very much in line with the rate of contraction that workers have experienced since September. Hours worked suggests that the hope-inspiring May moderation in the job loss series may have been a monthly aberration. If firms were really gearing up to start hiring workers once again, why would they now be cutting back as strongly as ever on the hours that they ask their existing employees to work? My bottom line: the labor market does not quite yet suggest that the economy has hit bottom.Charts at: http://www.businessinsider.com/henry-blodget-may-jobs-report-not-so-great-after-all-2009-6

The financial mess has now gotten to a point where Wall Street veterans are starting to speak out and question why the Obama administration does what it does, and how much longer it thinks it can continue doing it.Sandy B. Lewis and William D. Cohan make clear in the New York Times that they have no confidence in the policies conducted so far, since they are based on deeply flawed assumptions about what is wrong in the first place, and the loudly promised and much touted transparency Obama couldn’t stop talking about not so long ago is nowhere to be found. Lewis and Cohan pose a series of queries. They start off addressing the part the public has unwittingly been cast in:Why is so much effort being put into propping up those at the top of the economic pyramid — the money-center banks, the insurance companies, the hedge funds and so forth — when during a period of deflation like the one we are in, any recovery will come only by restoring the confidence of the people down at the bottom of the pyramid?… what is the plan to get the American people out of all these equity stakes we now own and don’t want?Soon, though, they move towards the more sinister part: the utter lack of openness surrounding all the trillions used to bail out broke banks and carmakers:As for those impossibly complex securities that caused so much of the trouble — among them derivatives, credit-default swaps and asset-backed securities — the S.E.C. should have the power to make public all the documentation surrounding these weapons of mass financial destruction, including all data about the current costs of buying and selling them and the cash flow underlying them.Why is the government still complicit in making the system ever less transparent, even when it comes to what should clearly be considered public information? For instance, it took more than a year for the Federal Reserve to disclose that it had agreed to pay BlackRock — the huge money manager that is 45 percent owned by Bank of America — and others $71 million in a no-bid contract to manage the $30 billion of toxic assets that JPMorgan did not want when it bought Bear Stearns in March 2008. And that is only one of the five contracts BlackRock has with the government as a result of this crisis — the nature of the other contracts remains secret.And what has become of the S.E.C.’s year-old investigation into who made short-dated, out-of-the-money bets in March 2008 hoping Bear Stearns would fail — bets that were suddenly worth millions of dollars when the company did collapse later that month? Why do we still not know why Mr. Paulson, Mr. Geithner and the Federal Reserve chairman, Ben Bernanke, allowed Lehman Brothers to file bankruptcy last Sept. 15 but then, a day later, saved A.I.G.?Or why last November this trio decided to absorb potential losses on $301 billion of Citigroup’s shaky assets, when conventional wisdom among insiders held that they were worth only $150 billion at best? Also, before Dick Fuld, Lehman Brothers’ chief executive, appeared before the House Committee on Oversight and Government Reform last October, it demanded from company executives boxes of documents about what happened at Lehman and why. Where are those documents?Still, Lewis and Cohan, critical as they may be, refuse to put into words what should be evident: the present administration has no intention whatsoever of opening up any book, or investigate who did what on Wall Street. The few executives who have been forced out are simply those who fell out of favor, not the most inept or suspicious figures. Bernie Madoff will be victimized and hung out to dry, but the extent of his crime and the names inside his network will be kept secret. The same will be true of Tangelo Mozilo, who could potentially drag down with him scores of financiers and politicians, but won’t be allowed to. In the end, Lewis and Cohan elect to lose themselves in what can only be called rhetorical propositions to provide clarity; rhetorical because they don’t (re-) present a chance in hell.Why hasn’t President Obama insisted on public hearings over what happened during this financial crisis? [..] There may be a way to find out. There is much talk nowadays coming from top bankers [..] about seeing how quickly they can repay to the Treasury the TARP money Mr. Paulson forced on them. One precondition of their being allowed to repay the funds should be a requirement that each gives a public deposition and explains, under oath, what truly happened and why.We are in one of those “generational revolutions” that Jefferson said were as important as anything else to the proper functioning of our democracy. We can no longer pretend that our collective behavior as a nation for the past 25 years has been worthy of us as a people. Many of us hoped that Barack Obama’s election would redress the dire decline in our collective ethic. We are 139 days into his presidency, and while there is still plenty of hope that Mr. Obama will fulfill his mandate, his record on searching out the causes of the financial crisis has not been reassuring.At least their conclusion there is spot on. Unfortunately, the next line is not:He must do what is necessary to restore the American people’s — and the world’s — faith in American capitalism and in our nation.Sorry, guys, but that can and will never be restored, there’s no going back, partly because it lost all credibility, partly because it lost its manufacturing base, and partly because it lost all of its money.And even if, a decade or two from today, and after unspeakable hardship for most Americans, economic fundamentals could be restored to a degree, the nation would integrally lack the energy sources required to rebuild even a semblance of what it once was.Michael Lewis has fewer ideals left; he seems content just calling a stone a -conflicted- stone:”…one of the things that’s odd about the current situation is that the people who created the problem are so powerful in deciding what the solution to the problem is going to be. There is a great tradition on Wall Street of making a fortune, creating a mess, and then making a fortune cleaning it up. But to do it on this scale is breathtaking to me.And it is amazing to me the degree to which, say, Goldman Sachs is intertwined with the Treasury, and how they’re — there don’t seem to be any independent voices in the thick of the decision-making. The decision-making is all being done by people who one way or another might expect to make a lot of money from Goldman Sachs in the future…So, on a grander scale, if I’m Tim Geithner and I’m the secretary of the treasury, what do you think he’s going to do when he stops being secretary of the treasury? His natural next step is go work in the financial sector…”Well, maybe “conflicted” is a term that doesn’t even make it to the Capitol/Street revolving door vocabulary anymore, maybe it all does seem normal:… the directors of the last three — let’s see, three of the last four or four of the last five directors of enforcement of the SEC work for big Wall Street banks now… And you can just assume, I think, that if you’re a prominent person at the SEC, your exit strategy is to get a lot of money from a Wall Street firm. And nobody says anything about it. That’s the amazing thing. It’s not even thought scandalous. It’s just thought normal. It’s like a natural career — a step in a financial career.There will come a day, though it will come far, far too late, when the fact that this is not merely some financial crisis will be evident to many of us. That realization may well coincide with the one that spells out that if the only people capable of understanding and fixing a highly flawed system, mired in behavior on both sides of the line that defines criminal acts, are the ones that designed it, that whole system needs to be discarded. Which is the precise opposite of what we do now. In other words: we have a long way to go, and it won’t be a pleasant ride.http://theautomaticearth.blogspot.com/

This guy has subscribers? Maybe I should start a letter!

Maybe this could help:The U.S. House approved legislation that would give consumers as much as $4,500 to buy new, fuel- efficient vehicles under a “cash-for-clunkers” proposal aimed at boosting auto sales.http://www.bloomberg.com/apps/news?pid=20601213&sid=a2MS6iA7r4FM

This looks to be good only for vehicles that get 18mpg or less. You cannot get the benefit if your current vehicle more mpg than that.

agree! Lack of transparency is at the heart of the matter; it prevents accurate and timely diagnosis and treatment of the illness; imagine how much simpler it would be to prevent these diabolical schemes if all the facts were known; yet, our country continues to allow the elite to operate under a cloak of opaqueness while the rest of us are held to letter of the law. We must demand and receive full transparency or remain perpetually indebted to and abused by the system.

How can America compete in emerging world markets if she is morphing into debt and delusion under socialism while China and other sleeping giants are shaking off socialism and communism and morphing into market economies under the rule of supply and demand?How can America compete while destroying the work incentive of Peter by taking from him to pay Paul–, ie, $8,000 from Peter to help Paul buy his first home; $4,500 to help Paul buy a new, fuel-efficient vehicle under a “cash-for-clunkers” proposal aimed at boosting auto sales; an earned income credit for Paul’s two children from Peter totaling $4,824 for Paul’s family; and Peter’s share of the $9.8 trillion allocated over the next 10 year on means-tested aid to Paul—-$17,400 a year?“In 2008, federal, state and local means-tested spending hit $679 billion per year. The House stimulus bill adds another $787 billion to this total, yielding a 10-year total of $9.8 trillion. The total 10-year cost of means-tested welfare will then amount to $127,000 for each household paying federal income tax,” according to Robert E. Rector and Katharine Bradley in “ WELFARE SPENDATHON: HOUSE BILL WILL COST TAXPAYERS $787 BILLION IN NEW WELFARE SPENDING,” February 6, 2009.To back up this statement, Rector and Bradley explain that “The recently passed U.S. House of Representative stimulus bill contains $816 billion in new spending and tax cuts. Of this sum, $264 billion (32 percent) is new means-tested welfare spending. This represents about $6,700 in new welfare spending for every poor person in the U.S.”Say the authors: “But this welfare spending is only the tip of the iceberg. The bill sets in motion another $523 billion in new welfare spending that is hidden by budgetary gimmicks…the total 10-year extra welfare cost is likely to be $787 billion.“The claim that Congress is temporarily increasing welfare spending for Keynesian purposes (to spark the economy by boosting consumer spending) is a red herring. The real goal is to get ‘the camel’s nose under the tent’ for a massive permanent expansion of the welfare state.“In the first year after enactment of the stimulus bill, federal welfare spending will explode upward by more than 20 percent, rising from $491 billion in FY 2008 to $601 billion in FY 2009. This one-year explosion in welfare spending is, by far, the largest in U.S. history… The stimulus bill is a welfare spendathon, a massive down payment on Obama’s promise to ‘spread the wealth.’“[T]he total 10-year fiscal burden (added to the national debt) will not be $816 billion, as claimed, but $1.34 trillion. This amounts to $17,400 for each household paying income tax in the U.S.”http://www.heritage.org/research/economy/upload/wm_2276.pdfAccording to the Heritage Foundation, “Means-tested programs, are typically termed welfare programs. Unlike direct benefits, means-tested programs are available only to households below specific income thresholds. Means-tested welfare programs provide cash, food, housing, medical care, and social services to poor and low-income persons.The federal government operates over 60 means-tested aid programs.[6] The largest of these are Medicaid; the Earned Income Tax Credit (EITC); food stamps; Supplemental Security Income (SSI); Section 8 housing; public housing; Temporary Assistance to Needy Families (TANF); the school lunch and breakfast programs; the WIC (Women, Infants, and Children) nutrition program; and the Social Services Block Grant (SSBG) Many means-tested programs, such as SSI and the EITC, provide cash to recipients. Others, such as public housing or SSBG, pay for services that are provided to recipients.”http://www.heritage.org/Research/welfare/sr12.cfm

10yrs 30yrs treasury blood bath. wow, 10yrs yield challenging 4%. 30yrs yield challenging 5% soon. forget challenging, break out to top side, imminent, yikes.

FIRST OFF, I’M AN OLD FASHION LIBERAL, ALBEIT CENTRIST ON THE ENVIRONMENT WITH EARTHDAY OVERPOPULATION PREVENTIONI see the current economic implosion in Europe a precursor to America’s fate. Both of our political parties have generally abandonned the populist opinion, in favor of extremist groups and lobbyists. It wasn’t because we voted them in, we had no one else to vote for [I voted Nader in retaliation], that wasn’t hand-picked by the extremist factions. The same thing is happenning in Europe and the manure as hit the fan.I think was has slowed the concurrent American anger is our media. Dogging us with all is well, while 20-25% of our work force is unemployed, severely underemployed, and/or forgotten.Ask anyone this survey question:”Do you want more overpopulation in your neighborhood?”The survey results would be like 95% Hades No!I’m sure they’ll never give Americans that survey, because the “Like Parties” and the “Corporate Lobbyists” apparently run the media they present to America.

19 billion Treasury auction sold at 3.99% – ouch…. here we go

Note that in today’s MSN Money market report that financials have climbed their way back, on the backs of the taxpayers, to the second-largest market weighting in the S&P 500:“[BRIEFING.COM] The financial sector (-1.1%) has extended its losses and now trades with the worst percentage decline of any major sector in the S&P 500. Since financials carry the second-largest market weighting in the S&P 500, their downturn is acting as a considerable drag on the broader market.“Wrote Seeking Alpha on January 16, 2009 in “Sector Weighting of the S&P 500: Financials Drop from First to Fifth”:A new king has been crowned out of the ten sectors of the S&P 500, while the old one has fallen hard. We’ve highlighted historical sector weightings of the S&P 500 a few times in the past, and the Financial sector has always made up the biggest portion of the overall index in our posts. However, after the big declines in Financial market caps over the last year, the sector has fallen all the way down to the number 5 spot in terms of sector weight!Technology has taken over the number one spot with a weighting of 16% in the S&P 500, followed by Health Care, Energy, and Consumer Staples. In the charts and tables below, readers can see how sector weightings in the S&P have changed over time going back to 1990. It’s interesting to see how the weightings shift based on which areas are the main drivers of the US economy at the time. In the early 90s, Industrials and Consumer sectors made up the biggest portion of the index. Then Technology took over during the Internet bubble, and Financials reigned supreme during the credit heyday of the 2000s. Energy made a big move as oil rose over the past few years, but the large drop in oil recently has stopped the sector from taking over the index. The current leaders of the index (Tech, Health Care) are there by default, and more a function of other sectors falling out of favor instead of them leading the economy. (For charts see):http://seekingalpha.com/article/115143-sector-weighting-of-the-s-p-500-financials-drop-from-first-to-fifth

One way to do an attic clean out. Glad he doesn’t live near me.

Agree! And the only REAL POWER the average citizen has is to stop giving them our money: become self-sufficient and non-materialistic; barter services if you have to but don’t accept their credit, their loans or other gimmicks to control the money supply-force them to play our game BY no longer playing theirs!!!

Fiddlesticks. A drop in the bucket compared with corporate welfare, e.g., subsidies for Exxon/Mobil. The amount of people who game the system is miniscule. The vast majority of our poor, disabled, elderly and needy cannot earn wages, thus need the government help. Or I suppose we could just dump all of them in the street. Survival of the fittest and all that rot. Jeez Louise.

Ditto. I think some folks on this board have allowed their sense of empathy to atrophy.SWK

Thanks LB,But how did you find my video? I mean, that could be anyone of us. Maybe we would be a little more precise in our language, or focus on the fundamentals, or describe the outrageous gifts to JP Morgan and Goldman Sachs.Nevertheless, the raw emotionality and frustration matches anyone of us.

THE MILLION DOLLAR QUESTION?????????????????We all know this is going to end in hyper-inflation and the collapse of the dollar.PeteCA, PeterJB, London Banker, MM CA, when in your opinions does this occur?

You didn’t ask me but if you read about hypercanes you will get a good idea of the hyperinflation that is bound to follow the failed policies of the ObamaNation of Desolation (Dan. 9:27). I don’t know when this will occur but in any event we are all screwed.My suggestion is to buy a teepee and settle in the Great Plains. Buy a Honeywell wind turbine to generate your electricity and hunker down.

No one has ever been an island of self-sufficiency. Humans have been sucessful as a species because they are societal-living creatures (with an overwhelming drive to come to each other’s aid and rescue in times of need) who cooperate. And humans’ real advances are result of the efficiencies of division of labor. Plus there’s nothing wrong with wanting or having “stuff” per se – the wrong is in wanting and having more and more and more without limit. It is time for enough to be enough, and no one excepted, not even Kings and Queens, land-owners, bosses, celebrities. Rather than deprive yourselves of material goods and credit that lubricates your economies and the benefits of division of labor, you could stop giving them your money by outlawing anyone’s having over a certain amount that is democratically mandated – say a few millions? I think that’s a far better solution. What do you think of that idea? Anybody?

The truth comes out:Fed officials sharply criticized Bank of America and CEO Kenneth Lewis in emails to each other after the bank tried to pull out of its deal to buy troubled investment bank Merrill Lynch, according to documents unearthed by Congressional investigators. The emails confirm Fed Chairman Bernanke was willing to threaten Mr. Lewis’s removal as CEO if he reneged on the Merrill deal and later sought assistance.http://online.wsj.com/article/SB124466361157703247.html#mod=djemalertNEWS

if that is true then why would not roubini say so ?

I think you mean FASCISM

MM CA. Am I correct in believing that you’ve plucked whole sections of an Associated Press article for your latest piece or are they plagiarizing you?I Googled “Health and Human Services will provide funding for 1,129 health centers to provide expanded service for 300,000 patients” and came up with the following website:http://wtop.com/?sid=1675953&nid=116Then again, maybe you are one of the AP guys that wrote the piece.

i forgot to post the link….

I wrote above i forgot to post the link.

The blog police are everywhere!

It was clear to me that MM CA was posting an article for our information–it was in the format.

whoopdy doo…

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