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Saturday, November 5, 2011
Friday, November 4, 2011
Morning Update/ Market Thread 11/4 - Lies, Damn Lies, and Unemployment Statistics Edition…
Good Morning,
Equity futures are falling this morning following a miss on both the headline Nonfarm Payrolls and Private Payrolls which came in respectively at 80,000 and 104,000 on expectations of 90,000 and 120,000. The Household Survey rate, however, supposedly fell from 9.1% to 9.0%, cough, cough, wink, wink. The dollar is higher, bonds are flat, oil is down slightly, gold & silver are down slightly, and food commodities remain in their tight range of late.
Of course it is the Unemployment Rate that the media always quotes to permeate the American psyche, now they get to say 9.0% while acting ignorant of the manipulation that causes this figure to be less than half of reality. And yes, I’m going to say it, we’re getting closer to election time, and no, I do not put manipulation of the data past anyone at any of the .gov data agencies. In fact, I now consider .gov to be an extension of .fed.
There were several fairly large adjustments in this report, the Birth/Death model all by itself added more jobs than were reported here, there were large upward revisions to the past two months, and there were large changes to the numbers of “discouraged” and part-time workers. Also, the number of people counted “not in labor force” rose, and that makes their math appear better, the opposite occurs on months it falls. Here’s Econospin doing their best pump-monkey, note that with the higher previous month revision how they didn’t come out and say that, “Payroll jobs fell by 78,000 from the month prior.” Watch what I’m saying here, you will see that when it can be spun positively it will be, but it is never spun negatively, and thus the positive bias to keep their self-interest central banker box alive:
Note that construction took another hit, month after month, years now of contracting construction and manufacturing. What we now manufacture is money and false statistics.
Below is the entire report from the BLS:
Employment Situation November 2011
On the Alternate table we can see that unadjusted U-6, that most closely resembling how it was calculated in the past, fell to 15.3%, while the adjusted data fell to 16.2%. These numbers can shift based on underlying counts and categorizations:
The small business “Birth/Death Model” created 102,000 phony jobs, up from last year’s 71,000 phony jobs in October, and up 145,000 jobs from the month prior!
Without that one manipulation alone, the headline numbers would have been negative. My take is that the economy continues to lose jobs, in fact has not produced a single job in years despite the population continuing to grow. We are currently just like Japan in that we foolishly continue to print debt money which destroys real production and real jobs while we manipulate the data to create apparent “growth” so that politicians and “Fed” monsters can continue their snow jobs.
Of course the people are wising up to the disconnect between the false statistics and the spin, thus we are beginning to see more of them on the streets as unemployment checks and food stamps won’t keep the population happy forever. That’s simply not the future I want for my children, no one does.
If you want to see reality, John Williams is still tracking the unemployment numbers without all the manipulations – try 23%:
The stock market has created a Head & Shoulder’s pattern where it looks like the right shoulder has completed. This pattern is seen throughout the markets, especially in the financials. Below is a 20 day, 30 minute chart of the SPX (S&P 500) where you can see the neckline at the 1,215 level. If that level is broken in the next few days, then the target on this pattern will be in the vicinity of 1,140ish, manipulation in Europe, the U.S., Japan, the bond market, the currency market, false flags, and “QE” announcements excluded:
In other news, Nobel Prize winning economist, Paul Krugman, says that, “more debt is needed to cure our debt problem.”
Meanwhile in Japan, you can see children glowing in the dark, yet our captured “regulators” are too narcissistic to take even a modicum of action. Good thing the Japanese government knows what to do:
Now there’s some proactive regulating right there! Arnie Gunderson comes at us again with the hot particle good news/ bad news scenario, don’t think I’ll be traveling to Japan anytime soon, and I can only wish that our government and “regulators” weren’t as captured as they are:
Equity futures are falling this morning following a miss on both the headline Nonfarm Payrolls and Private Payrolls which came in respectively at 80,000 and 104,000 on expectations of 90,000 and 120,000. The Household Survey rate, however, supposedly fell from 9.1% to 9.0%, cough, cough, wink, wink. The dollar is higher, bonds are flat, oil is down slightly, gold & silver are down slightly, and food commodities remain in their tight range of late.
Of course it is the Unemployment Rate that the media always quotes to permeate the American psyche, now they get to say 9.0% while acting ignorant of the manipulation that causes this figure to be less than half of reality. And yes, I’m going to say it, we’re getting closer to election time, and no, I do not put manipulation of the data past anyone at any of the .gov data agencies. In fact, I now consider .gov to be an extension of .fed.
There were several fairly large adjustments in this report, the Birth/Death model all by itself added more jobs than were reported here, there were large upward revisions to the past two months, and there were large changes to the numbers of “discouraged” and part-time workers. Also, the number of people counted “not in labor force” rose, and that makes their math appear better, the opposite occurs on months it falls. Here’s Econospin doing their best pump-monkey, note that with the higher previous month revision how they didn’t come out and say that, “Payroll jobs fell by 78,000 from the month prior.” Watch what I’m saying here, you will see that when it can be spun positively it will be, but it is never spun negatively, and thus the positive bias to keep their self-interest central banker box alive:
Highlights
The headline number for October payrolls was a little disappointing but upward revisions were more than offsetting. Payroll jobs in October posted a gain of 80,000 after rising a revised 158,000 in September (originally 103,000) and increased a revised 104,000 in August (previously 57,000). Market expectations were for a 90,000 boost for the latest month. Revisions for August and September were up net 102,000.
As in recent months, greater strength was seen in private nonfarm payrolls which advanced 104,000, following a 191,000 rise in September and a 72,000 increase in August. The October increase was lower than the market median forecast for a 120,000 increase.
In the private sector, goods-producing jobs were tugged down by construction but with manufacturing and mining partially offsetting. Goods-producing jobs declined 10,000 after a 29,000 boost in September. Construction jobs fell 20,000 in October after rebounding 27,000 the month before. Manufacturing employment gained 5,000 after a 3,000 dip in September. Mining advanced 6,000, following a 4,000 gain the prior month.
Private service-providing jobs rose 114,000 in October, following a 162,000 boost the prior month. The October increase was led by professional & business services (up 32,000) and trade & transportation (up 35,000). The temp help subcomponent of professional & business services rose 15,000 after a 21,000 gain.
The public sector contracted as government employment fell 24,000, following a 33,000 decline in September. Most of the October decrease was in the non-educational component of state government.
Earnings were moderately healthy as average hourly earnings in October rose 0.2 percent, following an upwardly revised 0.3 percent the month before. Analysts had forecast a 0.2 percent increase. The average workweek for all workers in October was unchanged at 34.3 hours. Analysts called for 34.3 hours.
From the household survey, the unemployment rate edged down to 9.0 percent from 9.1 percent in September. The consensus expected 9.1 percent. The unemployment rate declined largely on a sizeable 277,000 boost in household employment which has posted significant increases for three months in a row.
The October employment report is about as expected net. The best news was the upward revisions to payroll employment and the continued gains in household employment. These suggest that there might be a little more momentum than seen in the headline payroll number for October. The upward revisions might also help explain moderate strength in retail sales in recent months.
On the news, equity futures rose somewhat but slipped later.
Note that construction took another hit, month after month, years now of contracting construction and manufacturing. What we now manufacture is money and false statistics.
Below is the entire report from the BLS:
Employment Situation November 2011
On the Alternate table we can see that unadjusted U-6, that most closely resembling how it was calculated in the past, fell to 15.3%, while the adjusted data fell to 16.2%. These numbers can shift based on underlying counts and categorizations:
The small business “Birth/Death Model” created 102,000 phony jobs, up from last year’s 71,000 phony jobs in October, and up 145,000 jobs from the month prior!
Without that one manipulation alone, the headline numbers would have been negative. My take is that the economy continues to lose jobs, in fact has not produced a single job in years despite the population continuing to grow. We are currently just like Japan in that we foolishly continue to print debt money which destroys real production and real jobs while we manipulate the data to create apparent “growth” so that politicians and “Fed” monsters can continue their snow jobs.
Of course the people are wising up to the disconnect between the false statistics and the spin, thus we are beginning to see more of them on the streets as unemployment checks and food stamps won’t keep the population happy forever. That’s simply not the future I want for my children, no one does.
If you want to see reality, John Williams is still tracking the unemployment numbers without all the manipulations – try 23%:
The stock market has created a Head & Shoulder’s pattern where it looks like the right shoulder has completed. This pattern is seen throughout the markets, especially in the financials. Below is a 20 day, 30 minute chart of the SPX (S&P 500) where you can see the neckline at the 1,215 level. If that level is broken in the next few days, then the target on this pattern will be in the vicinity of 1,140ish, manipulation in Europe, the U.S., Japan, the bond market, the currency market, false flags, and “QE” announcements excluded:
All “investments” carry some risk, please consult your investment advisor who will tell you that there’s never been a better time to buy, dollar cost average, buy the dips, and oh, look at the shiny new ETF derivative that loses 3% a month even though you bet in the correct direction.
In other news, Nobel Prize winning economist, Paul Krugman, says that, “more debt is needed to cure our debt problem.”
Meanwhile in Japan, you can see children glowing in the dark, yet our captured “regulators” are too narcissistic to take even a modicum of action. Good thing the Japanese government knows what to do:
Tokyo Electric Power Co. won approval for a 900 billion yen ($11.5 billion) bailout from the government after the Fukushima nuclear catastrophe to avert bankruptcy and start paying compensation for the crisis.
Trade and Industry Minister Yukio Edano approved the support after the company known as Tepco committed to cutting 7,400 jobs and 2.5 trillion yen in costs. The utility forecast an annual loss of 600 billion yen, its second since the March earthquake and tsunami wrecked its Fukushima nuclear plant.
Now there’s some proactive regulating right there! Arnie Gunderson comes at us again with the hot particle good news/ bad news scenario, don’t think I’ll be traveling to Japan anytime soon, and I can only wish that our government and “regulators” weren’t as captured as they are:
Scientist Marco Kaltofen Presents Data Confirming Hot Particles from Fairewinds Associates
Thursday, November 3, 2011
Morning Update/ Market Thread 11/3 - Productivity Baloney. Tell Me Where Do the Children Play Edition…
Good Morning,
Equities are zooming higher this morning on hopes that the Greek government is falling apart and that the vote by the people on the crazy austerity measures will not happen! Nuts, as in literally insane. Buckle up, because the money explosion is happening in spades right now, the criminals are hell bent on creating money from nothing that benefits them, while simultaneously forcing austerity and inflation on the masses. The ECB CUT interest rates by .25% this morning, also fueling the money explosion – this will NOT help the situation, it will only make it worse. Rising inflation is the very worst thing that can happen for the economy at this point, the results will be far more painful for the masses, but it will take longer to realize just how painful it is.
Stocks were down 200 points, but then zoomed straight up 300 points on the continuation of the ridiculous Greek tragedy. The dollar is down, bonds are down, oil is higher, gold & silver are higher, and food commodities are higher but still within the range of the past few weeks.
Weekly Jobless Claims came in at 397,000, down from last week’s 402,000 which was revised up, of course, to 406k. For the past week the DOL reports that for unadjusted data, “The total number of people claiming benefits in all programs for the week ending October 15 was 6,781,960, an increase of 103,117 from the previous week.” The truth is that jobs are still being shed, as numbers need to be below 350k to reflect any sort of job growth, especially in relation to population growth. Here’s Econospin:
This morning’s Productivity & Labor Costs report shows the trend – lower costs for labor, combined with supposedly higher “Productivity.” Again, they are not measuring “productivity,” they are measuring cost of goods produced measured in dollars! When you are producing massive quantities of dollars, then “productivity” measured in dollars goes up. Yet, fewer and fewer people have any money to afford the higher prices created from money production that benefits only those who are closest to that money production while harming those furthest from it. Here’s Econoblind on the report:
To even attempt to spin this economy into a positive is a crime against humanity. Yes, money printing leads to higher “profits,” as measured in dollars, but measured any other way, it is a total loser of a proposition. And because our money is debt, more debt money will only work to kill real productivity and any velocity that our money had – witness our supposed GDP divided by the MZM money supply, M2 Velocity, and M1 money supply:
GDP Divided by MZM (Diminishing Productivity):
M2 Velocity:
M1:
Just look at the parabolic nature of your money! Here’s a clue for you, that trajectory is not sustainable! Those charts are THE reason why you are seeing protests on the streets, and they are becoming violent. “Other events,” major league events, are coming our way. It’s our fault for not putting an end to it sooner, but change, and very likely violence on a global scale, is now coming weather you like it or not.
Since we’re talking phony “productivity,” let’s revisit that great Kennedy quote to keep us focused:
And just to underscore that sentiment, look at how Food Stamp use just rose to yet another all-time record of 45.8 million Americans:
That equals 14.7% of all Americans on food stamps! There are your bread lines, and it is impacting our children very unequally. Note the Jobless 9.1% lie and how it is carried into the psyche by the media.
The good news is that when presented with a true solution outside of the central banker’s box, people seem to get it. Bill Still came out of nowhere, and thanks to your help, completely blew the field away in that recent Tennessee straw poll that just ended:
Any hope for a sane future for our children, America, and the world, rests on the people’s shoulders – your shoulders. The root of the problem is in the way private individuals have been granted the right to control the production of money – all other problems stem from that, and it is here where the people need to focus their energy.
"Productivity" my rear, nothing but money printing for the benefit of a few...
Equities are zooming higher this morning on hopes that the Greek government is falling apart and that the vote by the people on the crazy austerity measures will not happen! Nuts, as in literally insane. Buckle up, because the money explosion is happening in spades right now, the criminals are hell bent on creating money from nothing that benefits them, while simultaneously forcing austerity and inflation on the masses. The ECB CUT interest rates by .25% this morning, also fueling the money explosion – this will NOT help the situation, it will only make it worse. Rising inflation is the very worst thing that can happen for the economy at this point, the results will be far more painful for the masses, but it will take longer to realize just how painful it is.
Stocks were down 200 points, but then zoomed straight up 300 points on the continuation of the ridiculous Greek tragedy. The dollar is down, bonds are down, oil is higher, gold & silver are higher, and food commodities are higher but still within the range of the past few weeks.
Weekly Jobless Claims came in at 397,000, down from last week’s 402,000 which was revised up, of course, to 406k. For the past week the DOL reports that for unadjusted data, “The total number of people claiming benefits in all programs for the week ending October 15 was 6,781,960, an increase of 103,117 from the previous week.” The truth is that jobs are still being shed, as numbers need to be below 350k to reflect any sort of job growth, especially in relation to population growth. Here’s Econospin:
Highlights
Jobless claims continue to come down but ever so slowly. Initial claims fell 9,000 in the October 29 week to 397,000, a decline partly offset by a 4,000 upward revision to the prior week to 406,000. The four-week average is slowly approaching the 400,000 level, down 2,000 in the week to 404,500. This level is more than 10,000 lower than the month-ago comparison and offers a moderately positive indication for the October employment report.
Continuing claims in data for the October 22 week fell 15,000 to 3.683 million with the four-week average down 10,000 to 3.704 million. A month-to-month comparison shows a roughly 40,000 improvement though declines in continuing claims reflect an uncertain mix of new hiring and benefit expiration. The unemployment rate for insured workers is unchanged at 2.9 percent.
There are no special factors in the data which point to improvement, however slow, in the jobs market. This report, coming ahead of tomorrow's monthly employment report, is likely to be a positive for the stock market through the session.
This morning’s Productivity & Labor Costs report shows the trend – lower costs for labor, combined with supposedly higher “Productivity.” Again, they are not measuring “productivity,” they are measuring cost of goods produced measured in dollars! When you are producing massive quantities of dollars, then “productivity” measured in dollars goes up. Yet, fewer and fewer people have any money to afford the higher prices created from money production that benefits only those who are closest to that money production while harming those furthest from it. Here’s Econoblind on the report:
Highlights
Productivity picked up strength in the third quarter on healthier output. Nonfarm business productivity rebounded an annualized 3.1 percent in the third quarter after dipping 0.1 percent in the previous quarter. The market expectation was for a 2.5 boost for the third quarter. The output component improved to 3.8 percent from 1.8 percent in the second quarter. Hours worked increased an annualized 0.6 percent after a 2.0 percent rise the prior quarter. Unit labor costs fell an annualized 2.4 percent, following a 2.8 percent increase in the second quarter. The consensus forecast was for a 0.7 percent dip.
Compensation growth was soft, rising an annualized 0.6 percent, following a 2.7 percent increase in the second quarter.
Year-on-year, productivity was up 1.1 percent in the third quarter-up from 0.9 percent in the second quarter. Year-ago unit labor costs came in at up 1.2 percent in the second quarter, compared to a rise of 1.8 percent in the prior period.
Today's productivity report is favorable toward a continuation of growth in corporate profits with output up and labor costs down. But the negative is that businesses are still reluctant to hire.
To even attempt to spin this economy into a positive is a crime against humanity. Yes, money printing leads to higher “profits,” as measured in dollars, but measured any other way, it is a total loser of a proposition. And because our money is debt, more debt money will only work to kill real productivity and any velocity that our money had – witness our supposed GDP divided by the MZM money supply, M2 Velocity, and M1 money supply:
GDP Divided by MZM (Diminishing Productivity):
M2 Velocity:
M1:
Just look at the parabolic nature of your money! Here’s a clue for you, that trajectory is not sustainable! Those charts are THE reason why you are seeing protests on the streets, and they are becoming violent. “Other events,” major league events, are coming our way. It’s our fault for not putting an end to it sooner, but change, and very likely violence on a global scale, is now coming weather you like it or not.
Since we’re talking phony “productivity,” let’s revisit that great Kennedy quote to keep us focused:
“Too much and too long, we seem to have surrendered community excellence and community values in the mere accumulation of material things. Our gross national product...if we should judge the United States of America by that - counts air pollution and cigarette advertising, and ambulances to clear our highways of carnage. It counts special locks for our doors and the jails for those who break them. It counts the destruction of our redwoods and the loss of our natural wonder in chaotic sprawl. It counts napalm and the cost of a nuclear warhead, and armored cars for police who fight riots in our streets. It counts Whitman's rifle and Speck's knife, and the television programs which glorify violence in order to sell toys to our children.
Yet the gross national product does not allow for the health of our children, the quality of their education, or the joy of their play. It does not include the beauty of our poetry or the strength of our marriages; the intelligence of our public debate or the integrity of our public officials. It measures neither our wit nor our courage; neither our wisdom nor our learning; neither our compassion nor our devotion to our country; it measures everything, in short, except that which makes life worthwhile. And it tells us everything about America except why we are proud that we are Americans.”
― Robert F. Kennedy
And just to underscore that sentiment, look at how Food Stamp use just rose to yet another all-time record of 45.8 million Americans:
Nov. 1 (Bloomberg) -- The number of Americans receiving food stamps reached a record 45.8 million in August, the government said.
The figure was 1.1 percent higher than the previous month and 8.1 percent more than a year earlier, the U.S. Department of Agriculture said today in a report on its website. Assistance rolls are increasing as joblessness remains at 9.1 percent of the workforce.
That equals 14.7% of all Americans on food stamps! There are your bread lines, and it is impacting our children very unequally. Note the Jobless 9.1% lie and how it is carried into the psyche by the media.
The good news is that when presented with a true solution outside of the central banker’s box, people seem to get it. Bill Still came out of nowhere, and thanks to your help, completely blew the field away in that recent Tennessee straw poll that just ended:
Any hope for a sane future for our children, America, and the world, rests on the people’s shoulders – your shoulders. The root of the problem is in the way private individuals have been granted the right to control the production of money – all other problems stem from that, and it is here where the people need to focus their energy.
"Productivity" my rear, nothing but money printing for the benefit of a few...
Wednesday, November 2, 2011
Morning Update/ Market Thread 11/2 - Don’t Feed the Animals Edition…
Good Morning,
Click here to listen to some great mood music while you’re reading today’s report: Bank of America, Home of the Fee…
Yes, moving your money to your local credit union is a great idea, and just one step in depriving the rabid animals of food.
After losing nearly 600 DOW points in the past two days, equity futures are higher ahead of today’s manipulate you some more FOMC “Fedspeak,” designed to impress you with lies and manure, while giving HFT operators the movement in the markets necessary to rob that portion of the population who remains unaware of just how unreal the markets are. Just to be clear, those who are creating money from nothing in this society are the very same people who own the stock exchanges and also own the HFTs. The dollar is down, bonds are down, oil is back above $93, gold & silver are higher, and food commodities are trading higher within their recent range.
The very conflicted and definitely hypocritical Mortgage Banker’s Association (MBA) reports that Purchase Applications rose by 1.8% in the past week – hey, at least it’s getting close to the range of a believable figure for a change:
The Challenger number of mass layoff announcements fell significantly last month from 115,730 back down to 42,759:
The ADP Payroll report rose from September’s 91,000 to 110,000 supposed private payroll jobs “created.” ADP revised the 91,000 from September higher to 116k. This report, from my perspective, is notoriously inaccurate but it is used to set expectations for this Friday’s Employment Situation Report where the consensus is looking for a 90k nonfarm payrolls number (manipulation no extra charge unless you play with their HFT machines).
The MF Global debacle is looking very much like a Ponzi scheme was in progress where they were using customer funds to speculate in the market to fuel their “returns” (losses). This morning their lawyer is claiming that all the money is there, but Interactive Brokers who backed out of a deal to buy MF Global seems to think otherwise. Just go to Bloomberg and you will read about one fraud after another. Most of the frauds during the boom years are just overlooked, regulators and politicians captured, everyone simply looks the other way while carrying on with their own fraud. But when the easy money tide goes out, we now have accusations flying, it seems the accounting wasn’t quite up to snuff and now only the attorneys are going to profit.
Speaking of fraud, we’ll get to hear the FOMC drivel at 12:30 Eastern today. Hey, don’t feed the animals.
Click here to listen to some great mood music while you’re reading today’s report: Bank of America, Home of the Fee…
Yes, moving your money to your local credit union is a great idea, and just one step in depriving the rabid animals of food.
After losing nearly 600 DOW points in the past two days, equity futures are higher ahead of today’s manipulate you some more FOMC “Fedspeak,” designed to impress you with lies and manure, while giving HFT operators the movement in the markets necessary to rob that portion of the population who remains unaware of just how unreal the markets are. Just to be clear, those who are creating money from nothing in this society are the very same people who own the stock exchanges and also own the HFTs. The dollar is down, bonds are down, oil is back above $93, gold & silver are higher, and food commodities are trading higher within their recent range.
The very conflicted and definitely hypocritical Mortgage Banker’s Association (MBA) reports that Purchase Applications rose by 1.8% in the past week – hey, at least it’s getting close to the range of a believable figure for a change:
Highlights
Purchase applications for home mortgages rose for a second week, up 1.8 percent in the October 28 week on top of the 6.4 percent gain in the October 21 week to nearly reverse the prior week's 8.8 percent drop. The refinance index is down 0.2 percent in the latest week. Rates in the week were little changed with 30-year conforming loans ($417,500 or less) down two basis points to 4.31 percent and 30-year jumbo loans (greater than $417,500) up one basis point to 4.69 percent.
The Challenger number of mass layoff announcements fell significantly last month from 115,730 back down to 42,759:
Highlights
Layoff announcements eased in October to 42,759 from an outsized 115,730 in September that included a big cut in the US Army. The October level is near the low end of trend and offers a mildly positive indication for Friday's employment report. Government layoffs fell to 2,785 from September's 54,182 though the report notes the pending risk of big cuts in the postal service. Consumer products show the heaviest layoffs in September with 7,169 followed by retail at 4,254.
The ADP Payroll report rose from September’s 91,000 to 110,000 supposed private payroll jobs “created.” ADP revised the 91,000 from September higher to 116k. This report, from my perspective, is notoriously inaccurate but it is used to set expectations for this Friday’s Employment Situation Report where the consensus is looking for a 90k nonfarm payrolls number (manipulation no extra charge unless you play with their HFT machines).
The MF Global debacle is looking very much like a Ponzi scheme was in progress where they were using customer funds to speculate in the market to fuel their “returns” (losses). This morning their lawyer is claiming that all the money is there, but Interactive Brokers who backed out of a deal to buy MF Global seems to think otherwise. Just go to Bloomberg and you will read about one fraud after another. Most of the frauds during the boom years are just overlooked, regulators and politicians captured, everyone simply looks the other way while carrying on with their own fraud. But when the easy money tide goes out, we now have accusations flying, it seems the accounting wasn’t quite up to snuff and now only the attorneys are going to profit.
Speaking of fraud, we’ll get to hear the FOMC drivel at 12:30 Eastern today. Hey, don’t feed the animals.
Tuesday, November 1, 2011
Morning Update/ Market Thread 11/1/11 - One Edition…
Good Morning,
My, that’s a lot of ones, and the eleventh will be here soon! The markets are choking on European debt today as the Greeks put the “bailout” and its austerity to a sudden vote – of course anyone would be out of their minds to vote for IMF enslavement, and thus we can expect it to go nowhere, not that it was anything but a circular joke and Ponzi scheme to begin with. I think I can see Bernie blushing from here. Stocks are tanking, the dollar is shooting the waxing crescent, bonds are zooming, oil is finally back below the $90 mark, gold & silver are retreating, and food commodities are just a little more palatable.
The silly and planet ravaging FOMC meeting begins today, the Bernanke will spew forth tomorrow as the world’s narcissists (1%) hang on his worthless utterances, waiting to see how their HFTs will react to all the other HFTs. Meanwhile the wannabes will watch their money get stolen from them, and the 99% who are far away from the production of money will lose, and lose, and lose… that is until they force a change that gets rid of the phony “Fed” and allows our nation to produce debt-free sovereign money. And no thank you, we don’t want to repeat the other mistake of history, gold as or behind our money.
The Manufacturing ISM and Construction Spending will be released at 10:00 Eastern this morning and will be reported inside of today’s Daily Thread.
Yesterday a judge in Tennessee ordered the police to stop arresting Occupy protesters. Good for her, at least there is one honorable person still sitting on the bench.
I certainly call on all other authorities, police, judges, mayors, everyone, to do likewise. Good for you, U.S. District Judge Aleta Trauger, sometimes all it takes is one!
Time to turn to the one that I would immediately appoint as special prosecutor to rout out the systemic financial Fraud, Bill Black. Here he is meeting up with the Occupy movement talking about the Savings & Loan crisis. Pay attention to the numbers, here he says that the fraud is more than 70 times the size. I would say that the scope of the fraud is even larger than that. And while Mr. Black certainly understands the fraud, he falls short of getting on the true roots of the problem – it’s not just the regulators, the root stems from giving private individuals the right to control the production of money... for it is those who produce the money from nothing that use it to capture the regulators:
Now here’s Bill Black again explaining the corporate shell game that Bank of America is playing. I’ve been talking about this for years now, it’s not just BAC, it’s all the big banks, the mortgage insurers, and many more. Again, our government has turned their backs on the shell game, it is a crime, it’s completely illegal:
Freedom Vision's number one...
You know that I harp on how we measure our “productivity” in dollars, not in real things, and that leads us to measure the production of money and debt, not the production of anything real. Well, yesterday I ran across a wonderful quote on productivity by Robert F. Kennedy that I want to share. When was the last time you heard a politician talk like that? This quote deserves reflection, I think I’ll include it whenever the “Fed” releases their phony GDP numbers:
My, that’s a lot of ones, and the eleventh will be here soon! The markets are choking on European debt today as the Greeks put the “bailout” and its austerity to a sudden vote – of course anyone would be out of their minds to vote for IMF enslavement, and thus we can expect it to go nowhere, not that it was anything but a circular joke and Ponzi scheme to begin with. I think I can see Bernie blushing from here. Stocks are tanking, the dollar is shooting the waxing crescent, bonds are zooming, oil is finally back below the $90 mark, gold & silver are retreating, and food commodities are just a little more palatable.
The silly and planet ravaging FOMC meeting begins today, the Bernanke will spew forth tomorrow as the world’s narcissists (1%) hang on his worthless utterances, waiting to see how their HFTs will react to all the other HFTs. Meanwhile the wannabes will watch their money get stolen from them, and the 99% who are far away from the production of money will lose, and lose, and lose… that is until they force a change that gets rid of the phony “Fed” and allows our nation to produce debt-free sovereign money. And no thank you, we don’t want to repeat the other mistake of history, gold as or behind our money.
The Manufacturing ISM and Construction Spending will be released at 10:00 Eastern this morning and will be reported inside of today’s Daily Thread.
Yesterday a judge in Tennessee ordered the police to stop arresting Occupy protesters. Good for her, at least there is one honorable person still sitting on the bench.
"Political expression deserves the highest level of protection and it was unacceptable for the state to suddenly shut down protesters' speech and forcibly oust them from Legislative Plaza that has long been used as a place for peaceful expression," said Hedy Weinberg, executive director at the ACLU of Tennessee.
I certainly call on all other authorities, police, judges, mayors, everyone, to do likewise. Good for you, U.S. District Judge Aleta Trauger, sometimes all it takes is one!
Time to turn to the one that I would immediately appoint as special prosecutor to rout out the systemic financial Fraud, Bill Black. Here he is meeting up with the Occupy movement talking about the Savings & Loan crisis. Pay attention to the numbers, here he says that the fraud is more than 70 times the size. I would say that the scope of the fraud is even larger than that. And while Mr. Black certainly understands the fraud, he falls short of getting on the true roots of the problem – it’s not just the regulators, the root stems from giving private individuals the right to control the production of money... for it is those who produce the money from nothing that use it to capture the regulators:
Now here’s Bill Black again explaining the corporate shell game that Bank of America is playing. I’ve been talking about this for years now, it’s not just BAC, it’s all the big banks, the mortgage insurers, and many more. Again, our government has turned their backs on the shell game, it is a crime, it’s completely illegal:
Freedom Vision's number one...
1. Restore and maintain the proper rule of law by prosecuting systemic financial fraud. Create checks and balances to keep it from happening again.
You know that I harp on how we measure our “productivity” in dollars, not in real things, and that leads us to measure the production of money and debt, not the production of anything real. Well, yesterday I ran across a wonderful quote on productivity by Robert F. Kennedy that I want to share. When was the last time you heard a politician talk like that? This quote deserves reflection, I think I’ll include it whenever the “Fed” releases their phony GDP numbers:
“Too much and too long, we seem to have surrendered community excellence and community values in the mere accumulation of material things. Our gross national product...if we should judge the United States of America by that - counts air pollution and cigarette advertising, and ambulances to clear our highways of carnage. It counts special locks for our doors and the jails for those who break them. It counts the destruction of our redwoods and the loss of our natural wonder in chaotic sprawl. It counts napalm and the cost of a nuclear warhead, and armored cars for police who fight riots in our streets. It counts Whitman's rifle and Speck's knife, and the television programs which glorify violence in order to sell toys to our children.
Yet the gross national product does not allow for the health of our children, the quality of their education, or the joy of their play. It does not include the beauty of our poetry or the strength of our marriages; the intelligence of our public debate or the integrity of our public officials. It measures neither our wit nor our courage; neither our wisdom nor our learning; neither our compassion nor our devotion to our country; it measures everything, in short, except that which makes life worthwhile. And it tells us everything about America except why we are proud that we are Americans.”
― Robert F. Kennedy
Monday, October 31, 2011
Morning Update/ Market Thread 10/31 - You’ve Been Tricked Edition…
Good Morning,
Equity futures are down this morning with massive intervention in Japan affecting the currency markets while people around the globe come to realize that Europe is simply running a circular Ponzi scheme to hide their insolvency (same as in the U.S.) – and that as a basis of a stock market rally means “sold to you” distribution is occurring, those buying in now will be striped of their “assets” later. Hey, you’ve been told you’re playing in manipulated markets, if you haven’t withdrawn from their hologram yet, don’t come crying later – you’ve definitely been tricked.
The dollar is up as the Yen falls massively from record highs, bonds are higher, oil is lower, gold & silver are lower, and food commodities are slightly lower as well.
The Chicago PMI for the month of October came in this morning at 58.4 which is below September’s 60.4 reading and close to consensus. Econofool makes a big deal that this index value is above the “expansion” level of 50 – just remember WHO it is that makes these indices and the self-interest involved in pumping on both the “Fed’s” part and on the part of Econodrool:
Remember that most of these indices are first measured in dollar values, then turned into an index, and “adjusted” by the very same people whose living depends upon keeping the central banker box alive. My new slogan goes like this: Lying is a cooperative act. We, the 99%, no longer consent.
Everything the “Fed” does is designed to trick you. From their very name, all the way to every report they disseminate, nothing but lies, disinformation, disconnects between words and actions, and blatant self-interest all designed for them to profit at your expense. And robbing you they are. Their advertised inflation rate is running a little more than 2%, vastly understated I say. Today the University of Washington confirmed that for us in the Seattle area:
Hmmm, home prices are still falling (your “asset”), yet the cost for singles to live is up 19%! That’s nearly FIVE TIMES the “Fed’s” stated rate of inflation.
Speaking of inflation, guess whose houses are INflating in value like mad?
That’s the thing about inflation within the central banker box, those closest to the production of money benefit, while those further away from that production suffer.
With the current money explosion occurring, do not be surprised when real inflation surpasses 10% or more per year – of course there will be asset stripping waves of deflation mixed in, but the course of global currencies is clear. Just look at the actions Japan’s Prime Minister took last night – he said that he was going to do what it takes to force the Yen lower without stating a figure as to how much money he would create in order to accomplish that, stating instead, “I’ve repeatedly said that we’ll take bold action against speculative moves in the market.” Azumi then acted unilaterally, creating huge shifts in the global currency markets – direct manipulation.
On the daily chart of the Yen you can see the last three interventions, all of which created large moves which are accomplished by printing trillions of yen and then buying into the market:
Printing money to protect your currency is a competitive game with ever increasing numbers, forcing other central banks around the world to do likewise in order to protect their trade. The root cause of this has the very same reasons we’ve been talking about for years, it is rooted in WHO it is that controls the production of money. When giant interventions occur in currency and bond markets, there is no such thing as “free markets” anywhere.
We just learned that MF Global filed for bankruptcy this morning. For those who don’t know, Wiki describes them like this, “MF Global is a major global financial derivatives broker providing exchange-traded derivatives such as futures and options as well as over-the-counter products such as contracts for difference (CFDs), foreign exchange and spread betting. MF Global is also a primary dealer. MF Global traces its roots to the sugar trading business started by James Man in England in 1783, which evolved into broader commodities trading before its later transformation into a financial services business during the 1980s.”
And just like that, one of the major leaders in producing and controlling the production of derivatives (which act like money, a part of the “moneyness”) is in serious trouble. Gee, I’m sure there’ll be no spill-over from that… go long.
I spent this Saturday at a local Occupy rally. I can tell you that more and more people are waking up and they are all getting very close to target. Bill Still also went to his local rally and filmed his thoughts on Libertarianism, after all, he is now running on the Libertarian ticket for President:
Like Bill says, please go here, register on the site, and then vote in the Libertarian straw poll. Gee, look who’s leading:
Go Bill! Voting for Bill is the only shot we have working within the system to truly shift the production of money back in favor of the people – I highly encourage you to support Bill any way you can, his website is located here: Still2012.com
Which will it be, trick or treat? Lying is a cooperative act. I, for one, no longer consent to the lies.
Equity futures are down this morning with massive intervention in Japan affecting the currency markets while people around the globe come to realize that Europe is simply running a circular Ponzi scheme to hide their insolvency (same as in the U.S.) – and that as a basis of a stock market rally means “sold to you” distribution is occurring, those buying in now will be striped of their “assets” later. Hey, you’ve been told you’re playing in manipulated markets, if you haven’t withdrawn from their hologram yet, don’t come crying later – you’ve definitely been tricked.
The dollar is up as the Yen falls massively from record highs, bonds are higher, oil is lower, gold & silver are lower, and food commodities are slightly lower as well.
The Chicago PMI for the month of October came in this morning at 58.4 which is below September’s 60.4 reading and close to consensus. Econofool makes a big deal that this index value is above the “expansion” level of 50 – just remember WHO it is that makes these indices and the self-interest involved in pumping on both the “Fed’s” part and on the part of Econodrool:
Highlights
Very strong rates of monthly expansion in the Chicago area extended through October. The Chicago purchasing managers composite index came in at 58.4, well above 50 to indicate monthly expansion in general business activity though at a slightly less robust pace than September's 60.4 level. But October's 58.4 reading, which is four tenths above the Econoday consensus, is impressive and is right at the four-month average of 58.5.
Orders are the most important components and point to very strong production and employment in the months ahead as businesses expand capacity. New orders came in at 61.3, showing monthly expansion against September's outsized 65.3 for one of the strongest monthly rates of expansion of the last six month. Backlog orders rose nearly six points to 51.2 to show a monthly build and to end two months of draws.
Employment is another highlight of October, accelerating 1.7 points to 62.3. Production is also very strong at 63.4. Other readings include a slowing in inventory accumulation, one hinting at a production-related draw, and also include a slowing in supplier deliveries which is consistent with increasing traffic in the supply chain. Prices paid accelerated which is also consistent with strong activity.
The sample of the Chicago report includes businesses from all areas of the economy and continues to show exceptionally healthy conditions. Regional manufacturing reports from the district Federal Reserves have been mixed this month, with some showing a bounce back for expansion but others continuing to show contraction. Stocks are showing no significant early reaction but today's report may help raise confidence for strength in the two ISM reports this week and may help limit losses through the session. The Dallas manufacturing survey will be posted today at 10:30 a.m. ET.
Remember that most of these indices are first measured in dollar values, then turned into an index, and “adjusted” by the very same people whose living depends upon keeping the central banker box alive. My new slogan goes like this: Lying is a cooperative act. We, the 99%, no longer consent.
Everything the “Fed” does is designed to trick you. From their very name, all the way to every report they disseminate, nothing but lies, disinformation, disconnects between words and actions, and blatant self-interest all designed for them to profit at your expense. And robbing you they are. Their advertised inflation rate is running a little more than 2%, vastly understated I say. Today the University of Washington confirmed that for us in the Seattle area:
The cost for two parents and two children to live in Seattle has risen 13 percent in the last two years and for single people, it's 19 percent more expensive, according to a University of Washington survey.
The Seattle P-I.com reports the study indicates it costs a single parent of two children in East King County $65,690 to meet basic needs, up 14 percent from 2009.
Hmmm, home prices are still falling (your “asset”), yet the cost for singles to live is up 19%! That’s nearly FIVE TIMES the “Fed’s” stated rate of inflation.
Speaking of inflation, guess whose houses are INflating in value like mad?
October 27 – Bloomberg (Katie Spencer): Home prices in the Hamptons, the Long Island beach towns that attract summering Manhattanites, surged 22% in the third quarter from a year earlier as demand climbed for the most expensive properties. The median price of homes sold in the quarter increased to $850,000 from $696,000 in the same period last year…
That’s the thing about inflation within the central banker box, those closest to the production of money benefit, while those further away from that production suffer.
With the current money explosion occurring, do not be surprised when real inflation surpasses 10% or more per year – of course there will be asset stripping waves of deflation mixed in, but the course of global currencies is clear. Just look at the actions Japan’s Prime Minister took last night – he said that he was going to do what it takes to force the Yen lower without stating a figure as to how much money he would create in order to accomplish that, stating instead, “I’ve repeatedly said that we’ll take bold action against speculative moves in the market.” Azumi then acted unilaterally, creating huge shifts in the global currency markets – direct manipulation.
On the daily chart of the Yen you can see the last three interventions, all of which created large moves which are accomplished by printing trillions of yen and then buying into the market:
Printing money to protect your currency is a competitive game with ever increasing numbers, forcing other central banks around the world to do likewise in order to protect their trade. The root cause of this has the very same reasons we’ve been talking about for years, it is rooted in WHO it is that controls the production of money. When giant interventions occur in currency and bond markets, there is no such thing as “free markets” anywhere.
We just learned that MF Global filed for bankruptcy this morning. For those who don’t know, Wiki describes them like this, “MF Global is a major global financial derivatives broker providing exchange-traded derivatives such as futures and options as well as over-the-counter products such as contracts for difference (CFDs), foreign exchange and spread betting. MF Global is also a primary dealer. MF Global traces its roots to the sugar trading business started by James Man in England in 1783, which evolved into broader commodities trading before its later transformation into a financial services business during the 1980s.”
And just like that, one of the major leaders in producing and controlling the production of derivatives (which act like money, a part of the “moneyness”) is in serious trouble. Gee, I’m sure there’ll be no spill-over from that… go long.
I spent this Saturday at a local Occupy rally. I can tell you that more and more people are waking up and they are all getting very close to target. Bill Still also went to his local rally and filmed his thoughts on Libertarianism, after all, he is now running on the Libertarian ticket for President:
Like Bill says, please go here, register on the site, and then vote in the Libertarian straw poll. Gee, look who’s leading:
Go Bill! Voting for Bill is the only shot we have working within the system to truly shift the production of money back in favor of the people – I highly encourage you to support Bill any way you can, his website is located here: Still2012.com
Which will it be, trick or treat? Lying is a cooperative act. I, for one, no longer consent to the lies.
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