Monday, July 11, 2011

Morning Update/ Market Thread 7/11 – Swan Diving Edition…

Good Morning,

7/11/11 for you numerology watchers… not sure the meaning, but for some reason I’m thinking how good a fully sugared Slurpee would be right about now.

Equity futures are sharply lower again this morning, already making lows beneath Friday’s low. The dollar is higher, bonds are higher, oil is down sharply, gold is within $20 of another all-time high, silver is higher, and most food commodities are lower.

Note the latest trend that has most commodities falling on the down strokes except for the precious metals. Then on the upstrokes precious metals do well too. That’s because debt saturation is a monetary phenomena – the central scammers, wait, I mean central bankers, have developed a money is debt scheme that lines their coffers and burdens the rest of society.

That burden is now striking hard in Italy which is jumping into the debt saturation/ impossible math spotlight. No surprise there, it’s just the latest excuse for problems.

And it’s the same old stuff here at home using the debt ceiling as a political tool at the center of a wrestling match. In this match they are arguing over two aspects of a TRIANGLE, and no one will talk about the third. The triangle has three sides, not two, with higher taxes on one side, lower spending on another, but on the third is the one no one will touch and that is clearing out the debt! How do you clear out the debt? You let the banks DEFAULT. Had we done that already, we’d be well underway to a real recovery by now, but the issue framers won’t even talk about doing it properly. Freedom’s Vision would be one way to do it properly.

Meanwhile we get manipulated with false mantra, false debate, never ending fraud, false statistics, and outright lies.

The dollar broke the daily chart’s descending wedge in the upward direction and came right to the top of the much smaller triangle that I’ve been pointing out lately. A break above that triangle line – any higher than here – will probably set in motion a dollar rally which will take down equities. Again, worth watching here to see how it behaves (how we are manipulated):

No economic data today, the rest of this week is all about trumped up price data; the PPI, CPI, and trade data. Industrial Production, Empire Manufacturing, and “Consumer” Sentiment are thrown in as a kicker.

The horror that is Fukushima is not contained – not even slightly. And the special interest in charge, TEPCO, has no interest but to delay, delay, delay in hopes that somehow it will either just go away, or they can escape before someone holds them accountable. So, they make up stuff, the latest being that they have a plan, and it will take them a DECADE to invent some magical device that will allow them to pick up melted corium and do something with it! What a joke of sad and tragic proportions – real people, and our real planet are in serious trouble in the mean time. If you wish to stay informed, the following is a long Arnie Gunderson video that is worth the time:

Why Fukushima Can Happen Here: What the NRC and Nuclear Industry Dont Want You to Know