Equity futures are down significantly following a nasty report from Cisco (CSCO) who is down nearly 18% this morning:
Note where that $20 figure places CSCO on their weekly chart! Look out below! And just look at all the bull that got erased, just like that, before the market could even open. How you feelin’ about being long the FRAUD? Comfy?
They forecasted revenues for the next quarter that is roughly a BILLION dollars below prior estimates. This follows on the heals of reports of margin compression across the food industry whose input costs are soaring yet they can’t pass along those costs to unemployed consumers and to citizens whose pay cannot possible rise as they have arbitraged themselves out of pay increases by buying everything from China. Live by the Walmart, die by the Walmart.
The dollar is up and the Euro is getting slammed. Irish bonds are shooting through the roof, now well over 9% this morning, outpacing even this parabolic chart:
Europe is in deep trouble - Note the progression from small to large. Now it's Ireland, next comes Spain. One right after the other, and since they are a "union," they will all go down together as their financial systems are now interconnected.
Meanwhile, our bonds are roughly flat after falling significantly since QE2 was announced – there was the sell the news event. Of course QE is supposed to lower rates, not raise them, once again showing that the “Fed” cannot become the entire market – not only for bonds, but also now for stocks. Ridiculous.
Yesterday I forgot to mention that the Chinese rating agency downgraded the United State’s debt. How important is that? Way more important than coverage of that event stateside would indicate. Truth is that we deserve a far lower rating than was given – our own rating agencies are nothing but a joke, a bastion of corruption. Worse than worthless, actually, as they have inflicted great damage to this nation through their lack of honest reporting.
And all I see when viewing mainstream news are choices presented that are inside of the central banker debt backed money box… The latest is the Bowles and Simpson “Draft Proposal for Reducing the Deficit.” What complete bullshit. Here, they are trying to scare you into believing that massive austerity is the only and inevitable outcome – slash Social Security, do away with the home mortgage deduction, etc. Their entire PROPAGANDA can be read below, that is if you’re into masochism:
What a piece of work… If you’re not into masochism, then you need to be thinking outside of the debt money box, and no, I don’t mean the gold standard. Let’s start by enforcing the rule of law and throwing those gangsters and cabal leaders into prison who are breaking our laws and robbing Americans blind! Nowhere in their draft report did they mention taking FRAUDULENT PROFITS AND BONUSES and using those to help balance the budget! Start there and then we can talk further about reality.
The “Fed” (private bank cabal) has stated publically now that propping up equities is one of their goals. Obviously, it has been. And yesterday their co-conspirators at the Treasury published their latest $105 Billion POMO schedule for the next month that includes a POMO operation nearly every day! And again, I ask the question, “What is their exit strategy?” I think they already own (through the Primary Dealers) a very large portion of the stock market – and just look at the continued massive mutual fund outflows by mom & pop! So, what happens when they own the majority of the market, and they may already? How, when, and to whom do they distribute those massively over valued shares? Think about that one real hard, because that day is coming… in fact it just came overnight for CSCO.
And somehow I think that the American public has instinctually become aware of the FRAUD. They realize now that they are being robbed, I talk to more and more people who at least have that sense if not understanding. And thus the herd is ready to stampede, animal spirits are high – a stampede is certainly not out of the question, in fact I am expecting one.
And today is Veteran’s Day, time to honor those who have and who are protecting our “Freedoms.” That old saw is true – that we must continually fight for our freedom, or surely we WILL lose it. But we must be extremely careful not to fight a false enemy! False enemies are being created and MARKETED to us. The REAL enemy of FREEDOM is within our own borders! Again, I call to those within the military and within police departments and the TSA to HONOR THE CITIZENS who are your real boss! The money powers of this nation have grown FAR TOO STRONG AND POWERFUL and they must be resisted, least that freedom continue to wane.
Incidents like this ARE NOT ACCEPTABLE:
Sick and twisted. THIS TYPE OF SICK HARASSMENT OF OUR OWN CITIZENS MUST STOP NOW! This is completely NOT ACCEPTABLE. What is occurring is the takeover by the military industrial complex who is financed and owned by the very same few who own the “Fed.” They create ridiculous FALSE FLAGS like the latest “toner cartridge bombs” in order to SCARE everyone into submitting to giving up their freedoms! In this manner they can blossom the TSA’s budget so that they can buy real cool tools like machines that look through your clothes! The purchasing of these control machines is simply an extension of the “defense” budget that is sucking the life blood out of America. This is all about POWER AND CONTROL! It’s the same thing that both the narcissistic pursuit of MONEY and RAPE are all about. Their pursuit of the creation of money is not about pursuing THINGS, it’s all about power and control – and when they have the power and control, then you don’t have FREEDOM.