First

first second damn

Hey, all bad news has to be unexpected, or nobody would be able to explain why they were so confident in the economy rebounding, in spite of nearly all indicators to the contrary. Besides, they were all depending on the $8000 new-homeowner tax credit to properly goose the numbers for them. Who wants to bet that they extend the deadline on that tax credit?

Mortgage loan modification not working out? Here’s an idea…http://news.aol.com/article/forclosure-victims-charged-with-beating/739825Be sure to check out the comments…55/zip for the beaters vs. the cheaters! Heading towards pitchforks and torches?

Actually, it seems that ALL the news is “unexpected” (the “good” as well). Which makes me wonder what the heck all these people who are supposed to actually be looking in to things are doing! Never mind, I forgot, people in the US don’t actually do anything anymore, they just shuffle OPM!

The IMF “needs [enforcement]teeth?” No, the IMF needs to go away. I think Roubini has totally lost it.

Well folks, I’m heading overseas for a little jaunt. Despite getting crushed in my Leap puts this year, I have continued buying them into the future during this monster sucker rally and I am starting to feel that the tide is about to turn. I think Gary Shilling’s target of somewhere in the 600′s on the S&P in the next 6 months is pretty likely. We’ll see. Adios!!

America, land of the free lunch, home of the financially enslaved.

Enjoy yourself, Gloomy. Just take plenty of cash and get ready for sticker shock.If those are 2010 Leaps, my bet is that you will be fine.@MICHELLE:A few threads back, I noticed you called me out on my conviction and asked if I were short? I did not see the question in time to respond in that thread, but will answer now. Yep, very much so. The accumulation triggers were S&P over 1050, DOW over 9800. The assumption being that we might establish new highs in the 1120 & 10,300 area, but the upside potential FAR lower than the potential drop.I only trade ETF’s & first went short 2/08, trading them up & down until 2/09 when I cashed out. Here is a sample of an opinion I have come to respect. Note the date:*** Trend Change Alert *** (09-01-2009)By Simon Maierhofer, Co-FounderIt’s been nearly six months since we’ve issued our last Trend Change Alert. In hindsight, we can say that the rally from the March lows has surely fullfilled the parameters outlined in our March 2nd Trend Change Alert. The parameters were as follows (in chronological order):- Biggest rally since the October 2007 highs- 30-40% gains- Top would be marked by extreme readings of optimism- Target range for a top: Dow 9,000 – 10,000 / S&P 950 – 1,050- Fibonacci resistance: Dow 9,456 / S&P 1,015- Fibonacci time for a market top: around September 22- Final market top at or around Dow 9,800 / S&P 1,050In last Thursday’s (8/27/09) Weekly Pick Market Meter, we noted the following: “It would fit the character of this rally (irrational, impulsive, and powerful) to deliver one, perhaps two more moves to new recovery highs above S&P 1,050 and Dow 9,800. Aggressive investors may consider adding more short ETFs (second stage) at current levels. Conservative investors may hold out for even lower short ETF prices, or until the downturn has been confirmed. (See our 8/13 analysis of short ETF strategies.) We will likely issue a trend change alert when a) the indexes push beyond 1,050 and 9,800 or b) a down trend has become obvious.On Friday, the Dow Jones climbed to 9,630 while the S&P briefly clocked in at 1,040. Even though another push towards and beyond Dow 9,800 and S&P 1,050 is possible, the odds favor a market top at Friday’s prices. Here is why: 1) The market’s advances were seriously repelled by Friday’s highs, 2) investor sentiment has reached extremes not seen since the October 2007 market top, 3) market breadth is waning, 4) the second leg of this rally (from July 10) has come on lower volume compared to the first leg from March 9, and 5) September has a reputation for ushering in bear markets (more reasons and corresponding research articles are listed below). Additionally, compared to the previous two weeks, Monday’s decline came on high volume and negative breadth, indicating that the majority of investors finally want to sell.Aggressive investors may now proceed to to the third and final stage of accumulating short ETFs. All others should be at stage 1 or 2 and leave room for the possibility of another push to new highs. If new highs do not occur, the final stages can be filled once the downturn has been confirmed. There are no specific confirmation levels at this point and the overall breadth of the decline will be the judge. As always, we will keep you posted via these pages.”This is just one of several opinions I follow, but when the fundamentals make no sense and the technicals are flashing red lights, it just might be time to at least lighten up, if not go short. Jst one man’s opinion.Independent Contractor

like i said, no foreclosure people are victims. they are all greedy bastards deserving their punishment for their greed. now they are taking out theiranger and hatred toward loan modification specialists. those scumbags.

http://www.nakedcapitalism.com/2009/10/all-debt-is-not-created-equal-government-debt-is-not-the-same-as-private-debt.htmlwuaHAHAHA, force of dark side have converted and turned nakedcapitalism into its disciple. now he knows power of federal/local gov to spend and print money (the dark side). wuaHAHAHAHA!!!

ooohh booyww3 here we comehttp://www.ft.com/cms/s/8cda145a-c3fe-11de-8de6-00144feab49a,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F8cda145a-c3fe-11de-8de6-00144feab49a.html%3Fnclick_check%3D1&_i_referer=http%3A%2F%2Ftickerforum.org%2Fcgi-ticker%2Fakcs-www%3Fpost%3D116093&nclick_check=1Saudis drop WTI oil contractBy Javier Blas in LondonPublished: October 28 2009 20:27 | Last updated: October 28 2009 20:27Saudi Arabia on Wednesday decided to drop the widely used West Texas Intermediate oil contract as the benchmark for pricing its oil, dealing a serious blow to the New York Mercantile Exchange.The decision by the world’s biggest oil exporter could encourage other producers to abandon the benchmark and threatens the dominance of the world’s most heavily traded oil futures contract. It is the main contract traded on Nymex.

Anon: Thanks for posting this. That’s a pretty interesting development. Naturally it raises a major question … what is the new pricing mechanism that the Saudi’s are going to use for oil? They MUST have decided on an alternative. This series of events demands that the Saudi’s stage a major press conference to explain the change in pricing mechanisms and to outline their future plan.In the mean time, let’s see what oil does on NYMEX tomorrow. You gotta’ figure that a lot of speculative buying could pull out of the oil futures market – after an announcement like this.Finally, don’t underestimate the “manipulative” nature of this announcement. It’s a direct attack on oil speculation at NYMEX. The question is … who really engineered this in backroom deals? Who gains … and who loses???PeteCA

Speaking about that it is about time that Australia emerge from its colonial status and become a Republic (bringing both anger and despair to those ruling liberal and labour morons and jailers suffering with Stockholm Syndrome or IOW dump the Queen and the British Raj:”Solution: In a world order of sovereign states, weak national economies must seek redress through economic nationalism.”October 29, 2009http://www.henryckliu.com/page202.htmlHo hum

sieg heil baby

Someone in Germany should not laugh, since a number of Germa banks are still holding huge chunks of the toxic MBS crap that their govt will have to prop up if things don’t improve. Very interesting!

SDS

I told you recently these boys and girls who operate a bbg terminal deserve the big money, as it really is such hard, complicated and valuable work … From Dealbreaker …Bloomberg Will No Longer Provide Your Daily Ego BoostPosted by Bess Levin, Oct 28, 2009, 3:05pmHere’s some really awful news sure to shake you to the core. You know that function on your Bloomberg that let’s you see how many times your profile has been accessed? Of course you do, you check daily. Everyone does, even the big guys. It might not seem like that big a deal, and of course there are easier venues through which to stalk people, but be honest: you get off on knowing people are looking at you. Watching you. Seeing if you’ve been referenced in any business articles lately. But those days are over. Some of you probably noticed something awry a few days ago but didn’t want to jump to such a horrible conclusion. Fortunately, some banker chickadee, also reeling from the revelation, set out to get proof, and then passed it around to her comrades at work. On the bright side it appears that while the function has indeed been removed, Bloomberg has made its staff available to help you masturbate to your own existence while on the desk, in the event you need a helping hand. read the transcript of the online chat at Dealbreaker.com

@11b40:Thanks for the response, I had suspected you were short. I don’t follow opinions, I just look at the action and a few indicators and can get a general feel for a change in trend and so far this method has served me well.

I’m actually reminded of the scene in Blazing Saddles, when Clevon Little holds the gun to his head and tells the townfolk that if they make a move he will get it.

a,i had the same recollection.

and lest we not forget the total disaster out here in California, they are sticking it to the remaining 14 million workers out here starting next week. borrowing more by taxing them more… i knwo people who still have not gotten there 2008 Tax refunds out here… so good luck filing your taxes on time next april and expecting you refund money to come back to you… By then california will another 30 billion underwater…. i notifed my HR to increase my expemtions to 8 this morning, so in in fact I will now pay a lot less than i had been paying and i may just fedex my return and monies owed if any in pennies to them next year…California withholding tax increase November 1October 8, 1:17 PMSan Diego Headlines ExaminerJerrieCalifornia Governor Arnold SchwarzeneggerAB17 which was enacted by the California legislature and signed by Governor Schwarzenegger, requires the California Franchise Tax Board to adjust the payroll withholding table with an increase. The payroll withholding tables apply to pensions, as well as wages.AB 17 will increase payroll withholding by 10 percent, effective for wages paid after October 31, 2009. Withholding on supplemental wages increase from 6 percent to 6.6 percent effective for supplemental wages paid after October 31, 2009 and for stock options and bonus payments it will increase from 9.3 percent to 10.2 percent.To give you an idea what that will mean to you, as an example, if state income tax withholding is $500 a pay period on November 1, it will be adjusted to $550.00The law also increases the second quarterly estimated tax payment from 30 to 40 percent and the fourth quarterly installment from 20 to 30 percent.The AB 17 increases the payroll tax withholding and it does not increase California personal income tax rates.To help offset the extra money taht will be taken out of your paycheck, you can fill out a DE-4 form increasing your exemptions, for example from single 2 to single 3 and it will not change your federal exemptions, just your state exemptions. The form is available on the EDD website. If you would like to adjust your withholding click here to get the form.

Wall Street vs. Main Street: Courts Beginning to Side in Favor of Foreclosed Property OwnersBy George W. Mantor Print ArticleRISMEDIA, October 27, 2009—Agents involved in foreclosures and short sales may need to begin to disclose the possibility of serious property transfer defects associated with these types of lender controlled sales.If recent court decisions are any indication, we could be headed for an explosion of litigation in this area.And now, Massachusetts Courts have revealed the possibility that unlawful foreclosures, dating back to 1989, might be invalidated and that buyers of foreclosed properties and short sales may have clouded titles.The implications are enormous for title companies, bankruptcy attorneys, real estate agents, those facing foreclosure, and those who have lost their homes.The problem stems from the collision of two worlds. It illustrates what can happen when the new world fails to acknowledge or understand the old. It is change that takes place without the cooperation of all affected parties.Real property law has an ancient tradition. But, its laws and their purpose are not always apparent to those who want to change those traditions to benefit themselves.In the case of maintaining a public chain of title to real property, it was thought to be essential and generally required by the law.For hundreds of years, no one ever thought of any reason to change it. It was thought to be part of the public good.That is, until Wall Street saw the money making potential in credit derivatives.Credit derivatives are packages of debts such as car loans, student loans, credit card debts, and mortgage loans to name a few. These are collected, rated according to their risk, and sold to investors around the world.One small problem; if you are going to bundle mortgages from every county in the country, you would have to physically send someone to every county recorder’s office on multiple occasions and pay multiple recording fees. It was costly and cumbersome to those responsible for affecting the recordings.Their solution? Stop recording the assignments in public and track them instead in an electronic data base that the major lenders would operate through a cooperative entity. That entity is known as Mortgage Electronic Registration Systems (MERS). In my opinion, not only did it save them a fortune in county fees and manpower, it turned out to be a cash cow.Well, good for them, right? They figured out how to bring technology to the process and were handsomely rewarded. Never mind that the cost of maintaining a county recording system is paid, in part, by the recording revenue. They still have to maintain the apparatus, but now they aren’t receiving the revenue intended to maintain the system. Of course, this comes at a time when many counties are struggling to provide necessary services to their residents.But, as with many new ideas, there are unintended consequences that are now coming to light as state after state are enforcing basic property rights. Consider these cases:MassachusettsOn October 14, 2009, Judge Keith Long of the Massachusetts Land Court said in his ruling, “The issues in this case are not merely problems with paperwork or a matter of dotting i’s and crossing t’s. Instead they lie at the heart of the protections given to homeowners and borrowers by the Massachusetts legislature.”He was referring to the industry practice of trading notes endorsed in blank, in direct violation of securities law. Here is what he said on that point; “The blank mortgage assignments they possessed transferred nothing…in Massachusetts, a mortgage is a conveyance of land. Nothing is conveyed unless and until it is validly conveyed. The various agreements between the securitization entities stating that each had a right to an assignment of the mortgage are not themselves an assignment and they are certainly not in recordable form.”Two years earlier, Judge Rosenthal in re Schwartz, found that there was no evidence that the note itself was assigned and no evidence as to who the current holder might be.KansasOn August 28, 2009, Judge Eric S. Rosen of the Kansas Supreme Court likened MERS to a “straw man” and not a party of interest with the right to foreclose.“Indeed, in the event that a mortgage loan somehow separates interests of the note and the deed of trust, with the deed of trust lying with some independent entity, the mortgage may become unenforceable. The practical effect of splitting the deed of trust from the promissory note is to make it impossible for the holder of the note to foreclose, unless the holder of the deed of trust is the agent of the holder of the note. Without the agency relationship, the person holding only the note lacks the power to foreclose in the event of a default. The person holding only the deed of trust will never experience a default because only the holder of the note is entitled to payment of the underlying obligation. The mortgage loan becomes ineffectual when the note holder did not hold the deed of trust.”CaliforniaOn October 21, 2008, Judge Samuel L. Bufford noted in his ruling that California codified the principal in 1872 in Carpenter v. Longan: “Given that ‘the debt is the principal thing and the mortgage an accessory,’ the Supreme Court reasoned that as a corollary, ‘the mortgage can have no separate existence. An assignment of the note carries the mortgage with it, while an assignment of the latter alone is a nullity.”NevadaOn August 19th, 2008, Judge Linda B. Riegle concluded, “There is no evidence that the named nominee is entitled to enforce the note or that MERS is the agent of the note’s holder. Indeed, the evidence is to the contrary, the note has been sold, and the named nominee no longer has any interest in the note.”ArkansasOn March 19, 2009 the Supreme Court of Arkansas found that MERS was not the beneficiary under the deed of trust, although so designated in the deed of trust, because it did not receive the payments on the underlying debt.OhioOn October 31, 2007, U.S. District Judge Christopher Boyko dismissed 14 foreclosure actions and delivered a strong admonishment in a footnote:“Plaintiff’s ‘Judge, you just don’t understand how things work,’ argument reveals a condescending mindset and quasi-monopolistic system where financial institutions have traditionally controlled, and still control, the foreclosure process…There is no doubt that every decision made by a financial institution in the foreclosure is driven by money.”When you consider the origin of this problem, it is hard to disagree. If the foreclosing entity didn’t loan the money, the original note was sold, the location of the note is unknown, and it isn’t even clear what would happen to the proceeds of the eventual sale of the property to a new owner.Until recently, MERS had succeeded in most foreclosure actions. In non judicial foreclosure states like California, there is no judicial review of the elements of a foreclosure. Unless the borrower files for bankruptcy or brings a law suit against MERS alleging RESPA or TILA violations, there is no opportunity for the borrower to challenge the foreclosure.In judicial foreclosure states, there is a law suit brought by the party entitled to payment on the defaulted loan. Not the trust, but the actual possessor in due course of the original note. It’s part judicial procedure, part uniform commercial code and part ancient property law.But, the securitization business is so complicated, intentionally so, that defendants, most of their legal representation, and the judges rarely considered the consequences to the real parties in interest. This will continue until enough people understand the importance of the actual note and its relationship to the property.I believe many homes have been unlawfully foreclosed by entities not entitled to anything. The former owners of these homes have rights that will need to be addressed.People who applied for mortgage modifications and received them may have gotten approval from an unwitting bank employee with no authority to change the underlying terms of the securities in the pools.Many people bought these homes and have potential future claims. If there is a cloud on title, the new owner is at risk of being unable to sell or encumber the property. If the foreclosure were unlawful, the borrower is entitled to their property. And, there is a very real possibility that the true holder of the actual note, once and if ever this mess is sorted out, could come forward with the actual note.It isn’t important to only those in foreclosure. Those seeking loan modifications, potential buyers of short sales and foreclosures and those acting in a fiduciary capacity on their behalf, may soon be demanding, “Show me the note.”

New-Home Sales in Surprise DeclineSales fell 3.6% in September, putting new attention on calls to extend a tax-credit stimulusBy Phil MintzBW ExclusivesU.S. Economy Grows in Third QuarterCan Main Street Catch Wall Street?Housing Recovery: A Solid FoundationVerizon: Who Needs the iPhone?Verizon’s Motorola Phone Boosts AndroidStory Toolspost a commente-mail this storyprint this storyorder a reprintsuggest a storydigg thissave to del.icio.usThe Oct. 28 report by the government that the rate of new-home sales posted a surprising 3.6% drop in September from August is likely to give a boost to advocates of extending a federal first-time home-buyer tax credit that is due to expire at the end of November.The Commerce Dept. reported that sales of new one-family houses in September were at the seasonally adjusted rate of 402,000, down 3.6% from a revised August rate of 417,000. The sales rate is 7.8% below the previous-year number. Economists surveyed by Thomson Reuters had expected a pace of 440,000.It was the first sales drop since March.The median sales price of $204,800 was off 9.1% from $225,200 the year before, but up 2.5% from August’s level of $199,900.Extending the Tax CreditPaul Dales, U.S. economist with Capital Economics in Toronto, said in a report that the sales numbers could be the first sign that the pending expiration of the $8,000 first-time home-buyer tax credit was affecting the market. “The new-homes sales data are collected at an earlier stage of the home-buying process than the existing sales data (contract signing rather than closing), so we would expect that data to pick up any fall-off in sales first,” Dales wrote.The credit, which is limited to buyers who have not owned a home for the past three years, is due to expire Nov. 30. But several bills to extend the credit have been introduced, including one co-sponsored by Senate Banking Committee Chairman Chris Dodd (D-Conn.) and Sen. Johnny Isakson (R-Ga.) that would extend the credit to June 30, 2010, and expand it to include buyers who previously owned homes.About 1.4 million borrowers have claimed a total of about $10 billion in credits through the program, which was approved in February. A Treasury Dept. inspector general recently testified to a congressional committee that many of the claims for the credit have turned out to be fraudulent or filed by ineligible purchasers.Critics of the plan say that many of the home sales in which the tax credit was claimed would have occurred anyway. The Calculated Risk blog recently estimated that of the 2 million sales in which the tax credit would be claimed, only 350,000 would be incremental buyers—costing taxpayers $43,000 a sale.

GDP increase is nothing more than Stimulus related. Just like China’s “increased” GDP. Cut off the stimulus and bailouts and we will go back to neg 6-8% annual decline. Jobs down, Wages down, Tax revenues down, Housing down, all equals declining GDP. 70% of GDP is consumer driven. Plus any number they put out these days cannot be trusted.GDP Is….. Better Than Expected? No Way!October 29. 2009Posted by Karl Denninger in Macro Economics at 08:59GDP Is….. Better Than Expected?Oh what a tangled web we weave….Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 3.5 percent in the third quarter of 2009, (that is, from the second quarter to the third quarter), according to the “advance” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP decreased 0.7 percent.Looks good, right?Hmmmm…. or is it?Motor vehicle output added 1.66 percentage points to the third-quarter change in real GDP after adding 0.19 percentage point to the second-quarter change…..Real federal government consumption expenditures and gross investment increased 7.9 percent in the third quarter, compared with an increase of 11.4 percent in the second.Ok, from this we can compute a few things.3.5 – 1.66 – (7.9 * 30%) = -0.53%Now let’s adjust for inventories:The change in real private inventories added 0.94 percentage point to the third-quarter change in real GDP after subtracting 1.42 percentage points from the second-quarter change.-0.53% – 0.94% = -1.47%.Ok, that’s bad but not catastrophic and is an actual improvement compared to the second quarter. But….Current-dollar personal income decreased $15.5 billion (0.5 percent) in the third quarter, in contrast to an increase of $19.1 billion (0.6 percent) in the second.Personal current taxes increased $4.8 billion in the third quarter, in contrast to a decrease of $119.1 billion in the second.Eeeeehhh… those are both going the wrong way. Taxes up, income down. And…Disposable personal income decreased $20.4 billion (0.7 percent) in the third quarter, in contrast to an increase of $138.2 billion (5.2 percent) in the second. Real disposable personal income decreased 3.4 percent, in contrast to an increase of 3.8 percent.That’s worse. A lot worse. Disposable personal income decreased in nominal terms q/o/q by 5.9% while in real terms (inflation adjusted) it decreased q/o/q by 7.4%! That is an enormous swing in purchasing power and not in the right direction!Personal outlays increased $148.2 billion (5.8 percent) in the third quarter, compared with an increase of $8.2 billion (0.3 percent) in the second. Personal saving — disposable personal income less personal outlays — was $364.6 billion in the third quarter, compared with $533.1 billion in the second.The personal saving rate — saving as a percentage of disposable personal income — was 3.3 percent in the third quarter, compared with 4.9 percent in the second.So into decreasing personal income and disposable personal income people tried to spend anyway. Best guess: most of this was “cash for clunkers”, which is the worst sort of “spending” – it is the taking on of more debt by replacing a paid-off car with one that now comes with a shiny (and nasty) payment book. The Trade: Go long auto repo outfits (aside: as far as I know there are no publicly-traded repo companies.)Nothing in here I like; to the contrary, this report sucks and on a drill-down appears to be full of outright lies.Looking inside the data, the “big change” in private domestic investment is all residential fixed – up 23.4%. I don’t believe it. I’ve been scouring the homebuilder earnings releases and data, and I don’t see the numbers that support this. An improvement over the ditch-diving of the last many quarters, yes – but a 23.4% increase, a swing of fifty percent from Q2-Q3? Oh hell no. Where is it? It’s not in Home Depot’s or Lowe’s quarterly results, it’s not in the homebuilders, and I can’t find it in the suppliers (lumber companies, etc) either. This sort of move would result in monstrous top-line revenue increases reported by firms in this sector and that simply has not happened.Nor do the export and import numbers look right. Port of Long Beach and LA anyone? Those numbers also don’t add up – swings of 20-25% in one quarter? Not reflected in container volumes and freight loadings. Yet it has to be – how do you get something in or out of here without it going through a port?Government looks right, both federal and state/local. The “Obama will cut defense and war spending” folks have to be bashing themselves with a hammer – there’s no evidence for that in the data, now three quarters into his administration. If you’re anti-war and “bring the troops home”, you may want to re-think whether voting for Barry was a wise decision – he sure as hell hasn’t kept that promise. (Note that I didn’t think he would either but that lie sure played well in San Francisco, didn’t it?)Forward the big problem is the deterioration in personal income. You can’t spend what you don’t have without credit creation, and that’s fallen off a cliff. The Fed’s credit reports continue to come in with huge contractions – this should not surprise, as demanding that banks lend to people who are seeing their income shrink is into the realm of pure idiocy.The market likes the numbers although a lot of the move – perhaps all of it – is Bucky getting thrown under the bus once again.You can’t expect the cheerleaders on CNBC to read beyond the headline numbers, and they (once again) did not disappoint in this regard. The first 20 minutes of “analysis” brought not one mention of the decease in personal income or disposable personal income, yet on a forward basis this is in fact the most important piece of information in the report.You cannot have an economic recovery when on a q/o/q basis real disposable income is contracting at a 7.4% annual rate and worse, the spread between nominal and real income is widening, indicating that mandatory purchases such a food, energy and health care – are increasing.

You Cheat, I Cheat, as Wall Street Acts as Model: Susan Antilla

Oct. 28 (Bloomberg) — Trickle down really does work. Consider these inspired words, from an online reader of USA Today, reacting last week to news that Americans were lying, cheating and law-breaking to get their hands on an $8,000 tax credit for first-time homebuyers:“The system is scamming you, so why not scam back a little,” wrote the reader, using the name “None in 08.” “You’ve seen what crooks in Washington and on Wall Street can get away with.” So “it’s time to get yours.”Amen, brother. What are role models for, anyway?People who make their livings studying the business world’s ethics — and lack thereof — say it doesn’t take a nutburger to sense there’s some systemic unfairness at work.“The heavy hitters, the high-rollers and the powerful have been getting away with this type of thing, so people say, ‘Why shouldn’t I get my few cents?’” says Thomas Bausch, a professor of management who teaches business ethics at Marquette University in Milwaukee.

Pete, people have been bullish over the FREE MONEY that their puppets have been extracting for them!

stop being a CRY BABY.

Jobless claims could drop a 1000/month for the next 10 years (1000x12x10) and we would still have 400k claim monthly (520-120) or nearly 5 million/yr! Does that sound like a recovery? How much longer will Treasury continue stimulus printing to delay the inevitable?!Let’s all buy new cars=more debtLet’s all buy new homes=more debtLet’s all charge more on the credit cards=more debt. Until the hard-headed, addicted consumer faces reality, we are just digging ourselves a deeper hole from which very few will be able to ever escape!

The Professor writes “The I.M.F. needs teeth, perhaps along the lines of the W.T.O.’s authority to prod member states toward “out of court” settlements, in order to enforce these difficult political and economic goals.”That was covered in that video I posted yesterday The Fall of the RepublicI am not a conspiracy guy. I just think this is the nature of humans when to much wealth and power are concentrated in the hands of to few. I see bad times ahead but I believe that the ideals of America that Jefferson and Madison and Paine and the other heroes in our historical beginnings will not go away so easy. Americans may have lost their way but I believe that struggle is part of maintaining a democratic republic and as Minsky said stability leads to instability which in turn resolves itself in stability again. A circle that can not be broken. The wealth in the hands of the few will be redistributed by default and the pieces will be picked up by the prudent and the whole cycle will start over again.The bigger the cycle the longer the period of readjustment.The last time America was in a mess like this, which wasn’t as big a mess IMO, was during the Great Depression. Aptly named because after a long period of false prosperity and gambling, we were depressed. We learned and the world was a better place until we that generation passed on and the new generations had no personal knowledge of that kind of disaster. So we will get to do the depression thing again. And in the future, it will happen again.

Link to new thread.

you definitely love copy handbags to get new coupon I0PD0616

After I initially commented I clicked the -Notify me when new feedback are added- checkbox and now every time a comment is added I get 4 emails with the same comment. Is there any way you’ll be able to remove me from that service? Thanks!

After I initially commented I clicked the -Notify me when new comments are added- checkbox and now every time a comment is added I get four emails with the identical comment. Is there any manner you possibly can remove me from that service? Thanks!

There are some attention-grabbing closing dates in this article but I don’t know if I see all of them center to heart. There’s some validity but I’ll take maintain opinion till I look into it further. Good article , thanks and we wish extra! Added to FeedBurner as effectively

After I initially commented I clicked the -Notify me when new feedback are added- checkbox and now each time a comment is added I get 4 emails with the same comment. Is there any way you’ll be able to remove me from that service? Thanks!

You need to take part in a contest for one of the best blogs on the web. I’ll recommend this site!

I discovered your weblog site on google and check a number of of your early posts. Continue to keep up the excellent operate. I simply additional up your RSS feed to my MSN Information Reader. Looking for ahead to reading more from you later on!…

There are some interesting closing dates on this article but I don’t know if I see all of them center to heart. There may be some validity however I’ll take maintain opinion until I look into it further. Good article , thanks and we wish more! Added to FeedBurner as effectively

A formidable share, I just given this onto a colleague who was doing a little bit analysis on this. And he in actual fact bought me breakfast as a result of I found it for him.. smile. So let me reword that: Thnx for the treat! But yeah Thnkx for spending the time to debate this, I feel strongly about it and love reading extra on this topic. If potential, as you grow to be experience, would you mind updating your blog with extra particulars? It is extremely helpful for me. Huge thumb up for this blog publish!

http://www.economonitor.com/nouriel/2012/01/13/th…