At Active Trading Partners, we take a different approach to trading than most online services in terms of advising our subscribers. Our methodology revolves around behavioral characteristics of the crowd, and taking advantage of the extremes in sentiment, whether bullish or bearish.
In the case of ETF trading, we often work with 3x Bull or Bear ETF’s like BGZ, ERY, ERX, TZA, TNA and so forth. Using a combination of Fibonacci re-tracements and Elliott Wave theory, we look for high probability set-ups and extreme overbought or oversold situations to trigger a trade recommendation. A most recent example with ETF’s was a short position we took against the rising energy stock index, the XLE. This index had become incredibly overbought in just a few weeks, and looking at prior topping indicators and fibonacci trading day cycles, we felt it was a “Low Risk” bet to short the rally. We recommended ERY at $45.40 as the XLE headed over $56 and was becoming overbought. Within 7 days we had a 15% plus gain by going against the crowd. I saw a 13 fibonacci day trading rally at extremes, so we used the XLE chart below, to identify the timing to enter into ERY.
ALBION, Mich.—Michelle Rena Jones cheered when candidates Barack Obama and Joe Biden visited south-central Michigan in 2008. She supported Mr. Obama that November along with a slate of Democrats, including Mark Schauer in the 7th congressional district.
Job creation is one of the top issues among voters. In districts with high unemployment, that could spell trouble for a host of Democrats in tight congressional races. WSJ’s Neil Hickey reports.
Now, the 40-year-old is rethinking her lifelong support for the party. She has been without steady work for two years, lost her home and car and began receiving cash assistance from the state for the first time. This year, she says, “I’m willing to take a chance on something different.” Another possibility, she says, is that she won’t vote at all.
Ms. Jones is part of an unmeasured, agitated mass: unemployed Americans who don’t believe the Obama Administration and Congress have done enough to produce jobs. With elections coming up, their unease is especially troublesome for the Democrats, who control both chambers.
Welcome to my world! I have been in the same spot, since 2005. Thankfully, and very fortunately; I do not have any children to worry about. I could not imagine having kids in a economy like this. Some would say, “Well, you live in a bigger area, you should be able to find a job!” Two words: Yeah Right. 🙄 Bigger Area, means more people out of work and more people looking for a job.
It’s tough everywhere folks, don’t let nobody fool you.
Robert Gibbs and Jane Hamsher can argue all they want about ‘what’s progressive enough,’ but voters care about jobs. And the Obama Administration and Dems have simply failed on this issue. It is why they will lose the November election.
That’s very true. The Democrats and the Obama White House were hell bent on getting a healthcare bill passed, that one half of America did not understand and the other half understood and did not want; but they passed it anyhow. Meanwhile, people like me and Michelle Rena Jones are sitting here — unemployed. 🙄 A lot of damned good that Healthcare bill does one, if you do not have a job. I give great Kudos to “Bing Tent Democrat” for having the “Stones” to say as much.
Something tells me, that the short-lived era of “Home and Change” is officially over, the love affair and novelty of a new black President is over; and now the America people are sitting around going, “Dang, nothing has changed.” Those people will vote accordingly come November 2, 2010.
Responding to the collapse in home prices and the huge number of foreclosures, the Obama administration is pursuing an overhaul of government policy that could diverge from the emphasis on homeownership embraced by former administrations.
“In previous eras, we haven’t seen people question whether homeownership was the right decision. It was just assumed that’s where you want to go,” said Raphael Bostic, a senior official in the Department of Housing and Urban Development. “You’re not going to hear us say that.”
Bostic, who has published leading scholarship on homeownership, added that owning a home has a lot of value, but “what we’ve seen in the last four years is that there really is an underside to homeownership.”
The administration’s narrower view of who should own a home and what the government should to do to support them could have major implications for the economy as well as borrowers. Broadly, the administration may wind down some government backing for home loans, but increase the focus on affordable rentals.
The shift in approach could mean higher down payments and interest rates on loans, more barriers to lower-income people buying houses, and fewer homeowners overall, government officials said. But it could also pave the way for a more stable housing market, one with fewer taxpayer dollars on the line and less of a risk that homeowners will not be able to pay their mortgages. And it could spell changes throughout the financial markets, as investors choose new places to put their money if the government withdraws some incentives for investing in the U.S. mortgage market.
I don’t buy it. But, it could happen.
Ed Morrissey, who is one of the more honest right-wing bloggers out there, says:
Will the White House go through with it? It’s one thing to leak this to the Post. It’s another thing entirely to follow through with the necessary rulemaking and legislative effort needed to succeed in it. The Post notes that La Raza, one of the groups that gains material benefit from participating in government programs for these home-ownership efforts, is already unhappy with the idea. At a time when Obama’s approval ratings are sinking towards Bush levels, this could alienate his ideological base and leave him utterly abandoned in 2012.
Let’s hope Obama commits to this reform. If he does, it will easily be the most significant economic reform of his tenure, and would represent a significant retreat from the government interventions and social engineering that have ruined the American economy, and could set the stage for even further constraints on federal power. That would show actual leadership and strength.
Pardon me if I sound about as jaded as an atheist on Easter Sunday; but it would make no sense for President Obama to do this. As it was the Democrats that created this whole mess in the first place. Social engineering is what they do; so, I will not break out the pom poms just yet. I will believe it, when the speculation of the real estate market ends. I will believe when they stop trading mortgages on the stock market. I will believe it when the sub-prime mortgages are gone. I will believe it, when Fannie Mae and Freddy Mac are gone for good.
Normally, I would not even credit or link to anything on Infowars, because I happen to believe that Alex Jones is a rube. But, this was quite good and I think it warranted credit.
Thanks to an advertiser who wishes to remain anonymous, cars and trucks on Arizona Highway 260 in East Central Arizona are driving by a billboard advertisement that recently went up, bearing President Obama’s face on what appears to be a mock U.S. $100,000,000,000,000 (One-Hundred Trillion Dollar) bill.
The billboard’s caption: “But Who Will Pay the Piper?”
Chuck Perrine of Jones Outdoor advertising in Tucson, Ariz., confirmed to CNSNews.com that his company created the 10 ft- by-40 ft. billboard, which he said “went up within the last month.”
Perrine said the sign is located “near Linden (Ariz.),” but said that the advertiser is “not interested” in disclosing any further information about his identity–or his reason for purchasing the ad.
It is a very good question to ask and you want to know the answer? That would be us, the American Tax Payer, that is whom will pay the piper for many years to come. After all the stimulus that the Democrats rushed out the door? It failed. Don’t believe me? Here’s the video proof: (H/T HotAir)
As all of us, who are right of Obama, said over and over and over; you cannot prime the pump of the economy — it is either there or it is not. Further more, the huge housing bubble burst and subsequent collapse of the stock market; which wiped out many people’s 401K’s, not just the rich — is living proof that you cannot socially engineer the economy. It works, but only for a season. Bubbles burst, and things come back to normal and people lose and sometimes lose big.
Hats off to the person who decided to put this up. Of course, in the lame stream media he will be denounced as some sort of evil racist or something….
We’re not, we’re not trying to push financial reform because we begrudge success that’s fairly earned. I mean, I do think at a certain point you’ve made enough money. But, you know, part of the American way is, you know, you can just keep on making it if you’re providing a good product or providing good service. We don’t want people to stop, ah, fulfilling the core responsibilities of the financial system to help grow our economy.
The problem is; that was not a part of his prepared remarks, here is what he was supposed to say:
Now, we’re not doing this to punish these firms or begrudge success that’s fairly earned. We don’t want to stop them from fulfilling their responsibility to help grow our economy.
By the way, the radio host is Mark Levin, whom I normally find to be highly annoying; mainly because his voice sounds like the equivalent of dragging a cat backwards through a fan. But, I have to say, that I agree with everything that is said here.
Ed Morrissey, whom I have much respect for, points out the glaringly obvious here:
He should have stuck with the TelePrompter. The President doesn’t get to decide when people have “made enough money.” In fact, as the radio host notes, that’s a statist point of view. Furthermore, the responsibility of an entrepreneur isn’t to “grow our economy,” core or otherwise. It’s to grow his own economy. In a properly regulated capitalist system, the natural tension of self-interests create economic growth through innovation and efficient use of capital and resources.
Put simply, a free people work for themselves, not for the government. Barack Obama seems to have a problem understanding that.
But then again; Marxists usually do. Yesterday, I posted a video by Chris Matthews over at MSNBC basically saying that we should cool it with the Nazi references, when it comes to politics and the Right…and Left. The reason why I say that I agreed with that; is because comparing this President to Adolf Hitler is giving Hitler and this President way too much credit. Nazism was started because Hitler saw the failures of socialism and sought to improve upon it; a plan the ultimately failed thankfully. This President is just a flat out socialist; he is highly against any sort of unfettered Capitalism at all. I mean, do not misunderstand me here; I am all for seeing the people that capitalized on our economy going down the toilet, having to pay the piper. But to get in front of people and make a statement like this, is just inexcusable. This might come as a shock to those on the left; I am for Capitalism, but I am not for the reckless greed, that leads to destruction. There is a big difference.
The Bottom Line: The President needs to stick to the teleprompter. Because every time that he goes off of that teleprompter, he exposes himself and that exposure is starting to look very, very ugly.
Goldman Sachs, which emerged relatively unscathed from the financial crisis, was accused of securities fraud in a civil suit filed Friday by the Securities and Exchange Commission, which claims the bank created and sold a mortgage investment that was secretly devised to fail.
The move marks the first time that regulators have taken action against a Wall Street deal that helped investors capitalize on the collapse of the housing market. Goldman itself profited by betting against the very mortgage investments that it sold to its customers.
The suit also named Fabrice Tourre, a vice president at Goldman who helped create and sell the investment.
In a statement, Goldman called the S.E.C. accusations “completely unfounded in law and fact” and said the firm would “vigorously contest them and defend the firm and its reputation.”
The instrument in the S.E.C. case, called Abacus 2007-AC1, was one of 25 deals that Goldman created so the bank and select clients could bet against the housing market. Those deals, which were the subject of an article in The New York Times in December, initially protected Goldman from losses when the mortgage market disintegrated and later yielded profits for the bank.
As the Abacus deal plunged in value, Goldman and a prominent hedge fund made money on their negative bets, while European investors like IKB and ABN Amro lost more than $1 billion, the S.E.C. said.
According to the complaint, Goldman created Abacus 2007-AC1 in February 2007, at the request of John A. Paulson, a prominent hedge fund manager who earned an estimated $3.7 billion in 2007 by correctly wagering that the housing bubble would burst.
Goldman let Mr. Paulson select mortgage bonds that he wanted to bet against — the ones he believed were most likely to lose value — and packaged those bonds into Abacus 2007-AC1, according to the S.E.C. complaint. Goldman then sold the Abacus deal to investors like foreign banks, pension funds, insurance companies and other hedge funds.
But the deck was stacked against the Abacus investors, the complaint contends, because the investment was filled with bonds chosen by Mr. Paulson, who is not named in the suit, as likely to default. Goldman told investors in Abacus marketing materials reviewed by The Times that the bonds would be chosen by an independent manager.
“The product was new and complex, but the deception and conflicts are old and simple,” Robert Khuzami, the director of the S.E.C.’s division of enforcement, said in a statement. “Goldman wrongly permitted a client that was betting against the mortgage market to heavily influence which mortgage securities to include in an investment portfolio, while telling other investors that the securities were selected by an independent, objective third party.”
The SEC’s complaint alleges that after participating in the portfolio selection, Paulson & Co. effectively shorted the RMBS portfolio it helped select by entering into credit default swaps (CDS) with Goldman Sachs to buy protection on specific layers of the ABACUS capital structure. Given that financial short interest, Paulson & Co. had an economic incentive to select RMBS that it expected to experience credit events in the near future. Goldman Sachs did not disclose Paulson & Co.’s short position or its role in the collateral selection process in the term sheet, flip book, offering memorandum, or other marketing materials provided to investors.
The SEC alleges that Goldman Sachs Vice President Fabrice Tourre was principally responsible for ABACUS 2007-AC1. Tourre structured the transaction, prepared the marketing materials, and communicated directly with investors. Tourre allegedly knew of Paulson & Co.’s undisclosed short interest and role in the collateral selection process. In addition, he misled ACA into believing that Paulson & Co. invested approximately $200 million in the equity of ABACUS, indicating that Paulson & Co.’s interests in the collateral selection process were closely aligned with ACA’s interests. In reality, however, their interests were sharply conflicting.
According to the SEC’s complaint, the deal closed on April 26, 2007, and Paulson & Co. paid Goldman Sachs approximately $15 million for structuring and marketing ABACUS. By Oct. 24, 2007, 83 percent of the RMBS in the ABACUS portfolio had been downgraded and 17 percent were on negative watch. By Jan. 29, 2008, 99 percent of the portfolio had been downgraded.
Investors in the liabilities of ABACUS are alleged to have lost more than $1 billion.
The SEC’s complaint charges Goldman Sachs and Tourre with violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934, and Exchange Act Rule 10b-5. The Commission seeks injunctive relief, disgorgement of profits, prejudgment interest, and financial penalties.
Allow me to humbly submit that I hope that these bastards get exactly what is coming to them. I mean, these guy literally gambled as the stock market and by proxy; our economy went straight into the toilet. Many people that I know; like my parents, lost a good deal of money on this stuff. Not only that, after the credit crises hit; G.M. ended up having to shed a bunch of expenses; and as a result, my parents lost their optical and dental insurance. That came as a indirect result of this Wall Street mess. So, as far as I am concerned; throw the book at these bastards.
Capitalism is one thing, heartless greed is another; and these bastards crossed that line, big time. 😡
I am sure that you have already heard about President Obama’s proposed spending freeze. I’m sure you also have read the reaction of the Blogosphere as well. To be blunt, the left is not happy at all. To see a representation of this, check out this video of Rachel Maddow going toe to toe with Biden’s economic guy.
I have to give Rachel Maddow credit; She might be as left wing-dingy as a I am a right wing-dingy — But she sure as hell can make the Obama Administration explain themselves and defend their policies very well. So, I give her credit for that, she handled herself very well and did not give this guy a pass or go light on him. Color me quite impressed. Now, as for her politics, I disagree with it. Further more, the spending thing is nothing more than good political theater. See Rachel Maddow maintains that Obama would be pulling a Hover, sorry, that is just wrong. There are many things that have changed in way Wall Street and further more, the United States handles its affairs, since the big wall street crash of 1939 and the subsequent depression. Further more, it would help stop this out of control deficit that we have on our hands. Now, I will give her credit, she does rightly (Um, sorry, just a figure of speech) observe that this politically for the Obama Administration is a political blunder; because basically, Obama is doing what John McCain ran on in the 2008 election and lost. However, Obama’s guy explained that the cuts are not across the board. Hence my idea that it is nothing more than political slight of hand.
Further more, as much as I know this is going to make me sound like Pat Buchanan; (NTTAWT!) we need to repeal NAFTA and TAFTA and the rest of those Free Trade agreements with all these Countries. We need to go back to imposing tariffs on ALL imports from around the world. That would raise capital that our Nation so desperately needs. Now politically, that could cause us problems; but it would put a huge dent in our Nation’s debt to China. It would also encourage manufactures to build their products here in America, instead of overseas — and as an “America First” type of Conservative, that would make me extremely happy. 😀
Bottom Line: While Rachel might be good at interrogation, her hypothesis is just flat out wrong or at the least, overstated.
It is a plausible question, and an interesting one at that. Are the Democrats now jumping from the bloated ship of socialist waste ever known to humankind? Are Democrats preparing themselves for the “Nuclear Option” on healthcare? The questions abound, the speculation is running rampant, and internet meme’s are burning up the bandwidth. I, on the other hand, will tell you what I do know.
First off, let us start with the local story; Michigan Lt Governor John Cherry was expected to be the person to succeed Michigan Governor Jennifer Granholm at the helm of Michigan Governorship. However, Democrat Governor Jennifer Granholm’s performance as Governor of this state has been less than stellar. I ought to know this, I have lived here all of my life. Double-digit unemployment, a one state recession that towered over the national recession for many years now; put quite bluntly, there are no jobs here in Michigan. Sure, there are jobs, if you want to work in a fast food joint, making minimum wage. However, if you happen to be a 37-year-old man, looking for a decent paying, full time job, with health insurance — you are frankly out of luck.
However, to be fair, some of Michigan’s woes cannot be laid at the feet of the Democratic leadership. GM’s credit crisis cannot be blamed entirely on the Democrats, at least not the current ones in office here in Michigan. GM and Chrysler’s troubles are a direct result of the mortgage crisis, which was caused by President Jimmy Carter and President Bill Clinton and that idiotic piece of legislation that opened up the mortgage market to high-risk individuals. When the credit markets froze up, due to the stock market crash and subsequent credit freeze, the big three found themselves in the middle of it. This is my biggest issue that I have with the “Republicans” or those within the Conservative movement. They always, without fail, blame the unions for the troubles of the big three; when in all honesty, unions had zero to do with the meltdown or its effect on the automakers. The entire mess was, in fact, lack of proper regulation in the mortgage industry and the stock market in regards to credit swaps that caused this whole mess in the first place. Sorry to my fellow Conservatives, but I am just not buying that talking point.
However, it would be fair to mention that the unions did play a role in the financial woes of the big three, as did the big three’s failure to listen to the automotive experts, who saw what Japan was doing in the 1970’s and their arrogant attitudes. The big three could have saved themselves much heartache, by building smarter, higher quality vehicles. However, by the time the big three got around to embracing the ISO standards, it was too little, too late. As for the talking point of Union workers making too much money, I find it amazing how many Conservatives have axe to grind with those who simply want to make a decent working wage. Most of the people that make these idiotic claims are those who are making more than two hundred and fifty thousand a year and have no financial worries at all; but they want to rip away the comfortable living of others. Do you see now why I have not voted “Republican” yet?
Another point that I feel that is important to make, is the fact that the big three are just designing some of the most god-awful looking car nowadays. Heck, even the trucks are now getting just plain butt-ugly. Does it make any damned sense to build cars for every day Americans that look like they taken from the pages of a twenty fifth century comic book? Whatever happened to graceful, classic designs from the 1950’s, 1960’s and 1970’s? Those were real cars back then, now all the big three can produce is glorified garbage — and do not even get me started on the idea of an electric car, now that is a idea that is going to go right straight were the Chevy EV1 went, right straight into the scrap heap.
Now back on the subject of politics, it seems that Chris Dodd, going to retire. Getting sweetheart deals on a house mortgage can do that to a fellow, especially when people in your district are losing their houses left and right. I also notice that Bryon Dorgan is also retiring; he supported Obama’s healthcare plan, which made him damaged goods. I also notice that Colorado Governor Bill Ritter is withdrawing from that race — corruption will do that to a fellow.
Now what is my personal take on these retirements and how it affects the 2010 elections? My take is this; I believe that there are going to be some very big upsets come election time. Now, I do not necessarily see a Republican wave or anything like that. However, I do see a drastic change in Washington D.C. I do also see a “defanging” of the socialist monster that exists on Capitol Hill right now. As for the Governor’s race here in Michigan, I believe that the Republicans can win Michigan, but they are going to have to work to earn the trust of the American people. It would take some very hard work and some massive breaking of some very established political rules to do it. However it can be done. The people of Michigan want real answers, real results, not political grandstanding, and platitudes.
It is going to be a very interesting 2010. I look forward to writing about it and giving you my take.
Barack Obama ran for president as a man of the people, standing up to Wall Street as the global economy melted down in that fateful fall of 2008. He pushed a tax plan to soak the rich, ripped NAFTA for hurting the middle class and tore into John McCain for supporting a bankruptcy bill that sided with wealthy bankers “at the expense of hardworking Americans.” Obama may not have run to the left of Samuel Gompers or Cesar Chavez, but it's not like you saw him on the campaign trail flanked by bankers from Citigroup and Goldman Sachs. What inspired supporters who pushed him to his historic win was the sense that a genuine outsider was finally breaking into an exclusive club, that walls were being torn down, that things were, for lack of a better or more specific term, changing.
The United States economy shed 190,000 jobs in October, and the unemployment rate reached a 26-year high of 10.2 percent, up from 9.8 percent in September, the Department of Labor said Friday in its monthly economic appraisal.
While the pace of job losses has slowed significantly since the peak of the recession last winter, the unemployment rate, which measures the number of people actively seeking work, continues to climb, and economists do not foresee relief until well into next year.
“There’s no doubt that the slashing and burning of jobs has abated quite a lot,” said Allen L. Sinai, the founder of Decision Economics, a research firm. “The economy is recovering, but it is a very soft recovery.”
The biggest losses came in the construction, manufacturing and retailing sectors. Health care companies added 29,000 jobs to their payrolls, and the number of temporary workers increased by 34,000 — a significant gain that could indicate employers are beginning to expand their businesses again.
The Labor Department also revised September’s losses to 219,000 from 263,000.
Dean Baker, a director for the Center for Economic and Policy Research, said he did not expect declining unemployment rates until next spring. “We may be looking at very high levels,” Mr. Baker said, “barring a policy response, for several years into the future.”
Um, Why should there be any policy response? I believe that we are already tapping our resources to the limit now.
On Thursday, in anticipation of the unemployment report, Congress overwhelmingly voted to extend benefits for jobless workers for up to 20 weeks. That will soothe the short-term financial pain of many families, but demands for a new wave of government relief may intensify if companies continue to cut back.
Yes, let’s encourage people NOT to look for a job and continue to spend ourselves into a hole; by being a nanny state.
So far, the federal stimulus package has injected billions into local economies, giving states money, for instance, to finance construction projects or retain teachers. The housing and auto sectors have been propped up with government credits meant to encourage spending. But weak consumer demand and hefty labor costs are still forcing many employers to cut positions and reduce hours to survive.
So much for Hope and change!
The article goes on trying to defend President Obama, which is so typical for the New York Times, but it is quite obvious, this President has failed on all fronts, the stimulus, the bailouts —- everything. He is, in fact, a black Jimmy Carter.
This is now Obama’s economy. He owns the double-digit unemployment level, having bought it with the $787 billion stimulus plan that he promised would keep unemployment no higher than 8%.
I agree with that. Obama simply continued the bailouts that President Bush started, which was a huge mistake.
The AP Reports:
But the loss of jobs last month exceeded economists’ estimates. It’s the 22nd straight month the U.S. economy has shed jobs, the longest on records dating back 70 years.
Counting those who have settled for part-time jobs or stopped looking for work, the unemployment rate would be 17.5 percent, the highest on records dating from 1994.
Now, if I were a partisan Blogger, I would simply sit here and blame Obama for it all. However, I am a bit more smarter than this. This all goes to Carter and then to Clinton. This video from the Wayne County Republicans will explain:
These unemployment numbers are just a ripple effect of all of this. Bush had a hand in it, as well as Obama. This is what happens when you elect faux Conservatives as Republicans and it is what happens when you elect Socialists.
Okay, I will be the first to admit it; I do NOT agree with Ron Paul on Foreign Policy.
But he sure makes a hell of a great deal of sense; when it comes to economic policy.
Here he is on Bloomberg TV:
While I personally believe some of his followers are a bit goofy. The man himself, is another story.
…and let me give this fair warning. First idiot that comes in here and leaves a stupid comment about me being a damn Neo-Conservative will get sent to the damn twit filter so fast, it will make your head swim. 😡
Let’s face it: most Americans live in a world of false security. This is somewhat understandable, given the fact that the majority of the U.S. population was born after 1945. Few remember the dangers and hardships of World War II; fewer still remember the Great Depression. Few Americans know what it’s like to not have some sort of “supercenter” nearby with shelves stocked with every kind of food imaginable, twenty-four hours a day. Few know what life was like before there were restaurants of all sizes and types on virtually every street corner in America. And only a handful remembers when most roads were unpaved, or when sports were truly a pastime and not a megabuck obsession.
Modern living within the world’s only “superpower” has created a giant unsuspecting, soft, lackadaisical, and lethargic society. We expect the government to keep our streets safe, our roads paved, our stores stocked, our jobs secure, and our enemies at bay. However, in the desire to make government the panacea for all our problems, we have sold not only our independence, but also our virtue.
Where the federal government was contracted (via the U.S. Constitution) to accept limited power for the overall good of both states and people, it has become a monster of gargantuan proportions, claiming authority over virtually every liberty and right known to man. And in the process, it decided it didn’t need God, either.
It is no hyperbole to say that the U.S. federal government has been on a “Ban God” bandwagon for the past 50 years. Whether it kicks prayer and Bible reading out of school, bars military chaplains from praying in Jesus’ name, burns Bibles in Iraq, removes state supreme court chief justices from their positions for posting the Ten Commandments, or threatens high school principals with jail for asking the blessing, the federal government has invoked the judgment of Heaven upon our country as surely as did Old Testament Israel.
Although the comfortable, sports-crazed, TV addicts probably aren’t paying attention, this country is on the verge of an implosion like you cannot believe. For anyone who cares to notice, the signs are everywhere.
First of all, Israel and Iran are on the verge of war. And right now, I’m not concentrating on the “why” or “who’s right or wrong” of the equation. I’m simply telling you, war between Israel and Iran could break out at any time. And when it does, the chances that it will not become nuclear and not become global are miniscule. Yes, I am saying it: the prospects for nuclear war have never been greater. The CBS-canceled TV show, JERICHO, could become a reality in these United States in the very near future. (I strongly urge readers to purchase both seasons of JERICHO and watch them, because this could be our future.)
Secondly, America is on the verge of total financial collapse. By the end of this year, America’s budget deficit will stand at around $2 trillion. The debt gap is many trillions more than that. But the nail in the coffin for America’s fiscal health will be the decision by China to dump the U.S. dollar. Ladies and gentlemen, this will be the death knell for our financial stability (and a painful lesson in sowing and reaping).
It is estimated that China owns around one-third of all U.S. debt. If and when China dumps the U.S. dollar, there would be nothing left to stabilize it, and Weimar Republic/Zimbabwe-style inflation will ensue. America will be thrust into financial chaos. (If one doubts that China is planning to dump the dollar, consider that China is currently purchasing and stockpiling gold at an unprecedented level. This is why gold has suddenly surged to over $1,000 per ounce and why it will continue to rise.)
Third, the paranoia regarding the Swine Flu being demonstrated by both government and media spokesmen begs a giant push for some type of “government solution.” If they keep hyping this “pandemic,” mass hysteria and fear (created by the government and its lackeys in the media) will result. This would, no doubt, necessitate some form of forced vaccination, quarantine (maybe this is what all those internment camps will be used for), and martial law.
Exactly how and when all of the above will actually materialize is yet to be seen. There is no doubt in my mind, however, that within the next few months, the world that we know today is going to vanish. And most Americans are totally unprepared for what’s coming.
If you are able to get out of debt, do it. If you need to scale down your lifestyle in order to be better prepared for difficult days, do it. If you don’t have guns and ammo, buy them. If you have not prepared some sort of preserved food pantry, do it. If you don’t have some kind of survival plan in place for you and your family, get one. If you are not physically fit, get in shape. If you are able to move to a more secure, out-of-harm’s-way location, do it. (During any kind of financial or societal meltdown, urban areas will quickly turn into war zones. Can anyone say, “New Orleans after Hurricane Katrina”?) In other words, get your nose out of the boob tube, get your bottom off the easy chair, and get busy.
Am I worried or discouraged? Absolutely not! (But I am preparing.) The potential good that may result from all of the above is that perhaps God will protect and raise up a remnant of people who would be willing to rebuild a place where Natural Law is respected, constitutional government is revered, and where a ubiquitous, loathsome, overbearing federal government is far, far away. You know, like America’s Founding Fathers did 233 years ago.
In the meantime, get ready. It’s going to be a rocky road.
There has been quite a bit of discussion about this story in the Blogosphere already. Most of it has focused on the way that the White House handled the situation; which I will admit was less than professional. But the thing that I want to focus on, is why this is even happening.
Gov. David A. Paterson defiantly vowed to run for election next year despite the White House‘s urging that he withdraw from the New York governor’s race.
Appearing tired and agitated at a parade in Harlem on Sunday, the governor told a crowd of reporters that he would not abandon his campaign to seek a full term.
“I have said time and time again that I am running for governor next year,” he said at the 40th annual African-American Day Parade.
Mr. Paterson would not characterize what he was told by the White House, saying that he would not “discuss confidential conversations.”
“I’m not talking about any specific conversations,” he said. “As I said, I am running for office.”
President Obama had sent a request to Mr. Paterson that he withdraw from the New York governor’s race, fearing that Mr. Paterson cannot recover from his dismal political standing, according to two senior administration officials and a New York Democratic operative with direct knowledge of the situation.
The decision to ask Mr. Paterson to step aside was proposed by political advisers to Mr. Obama, but approved by the president himself, one of the administration officials said.
“Is there concern about the situation in New York? Absolutely,” the second administration official said Saturday evening. “Has that concern been conveyed to the governor? Yes.”
The administration officials and the Democratic operative spoke on condition of anonymity because the discussions with the governor were intended to be confidential.
First off the confidentiality part got blown out of the water, and the President’s communication went public. I believe that part was totally intentional. It basically was done to send a message to Governor; one of “Hey, you idiot! Get out of the race, because you are going to lose!” That is pretty much a given.
My question is this; why all of the sudden are Democrats or more specifically the President of the United States asking the Governor of New York to drop out of an election race? I have an idea, and part of my explaining that reason is in this video, please watch it: (H/T HotAir)
Is it clear to you now? Well, in case it is not. I will explain. We Conservatives have taken control of the conversation. When I say “we”, I mean, the Conservative media, like Glenn Beck, who’s really an Independent; Bill O’Reilly, Who is a traditionalist and the rest of the talk radio world. Plus, you have the Conservative Blogosphere who were the forerunners in this fight. We were criticizing the President and polices from day one! The old media finally caught to us, oh, around three months later! This is why I had the screaming fit at Jim Hoft for linking to that site! We have seized the ship and taken the wheel away from the socialist media; we cannot afford to screw it up!
We have the Democrats running scared; and when I say “We”, I mean everyone that is involved in this operation, the Conservative media, like Fox News and all of the little media guys, The Conservative Blogosphere; who have been on this President’s butt since the day he botched up the oath of office. The rest of America; after watching the stimulus basically flop and the economy not recover, after watching the Government bailout the big two (and not the big three; Ford did not take any money…) and assume control of these companies, and after those employees, like my Father, watched their Dental and Optical benefits disappear, after working 31 hard years for that Company. —– Those people are starting to pay attention to the situation and are wondering, “Hey, what on earth is going on here??” and let’s not even get into that whole Healthcare debacle! —- They were promised change, and so far, they have gotten nothing. Nothing but trillions of dollars of debt, that their grandchildren and great-grand children will paying for, for the rest of their lives.
The sad part about all this is that the Democrats have about used every trick in the book to stop this movement; and have failed horribly. First, it was the tactic of the Bush Administration; of calling everyone that is opposed to Obama’s polices as being Anti-American. Then they trotted out the fear card, saying that we who were against Obama were stirring up violent tendencies among the people. Now they have trotted out their last refuge and that is the race card. In fact, the Democrats have used that race card, so much in fact that now even the Associated Press is basically saying, “Um, Guys? You are overplaying that defense.” Even African-Americans are even starting cringe. The sad part is, that is all they have, and now as you can see, they are on the run.
So, what happens now? Do we quit? Oh, heaven’s no. We keep fighting; Bloggers keep writing, Fox News and the media guys keep reporting, keep being critical of the President. It never ends, until the battle is over in 2012, and even then; whomever is elected, we criticize them too. That is what a Constitutional Republic with a free press does, and we Blogging folk, we are the independent, non-corporate media. The sixth estate, if you will. We keep the Murdoch, the G.E. and the turner empires honest. If they fall down on the job, we call them on it. That goes for Fox News, MSNBC, CNN, ABC, NBC, CBS, or whomever else is not doing their jobs properly.
We are in the battle of our lives, for our Country, for our freedoms. We must not quit, we must not grow faint. We must carry on.
“Finally, my brethren, be strong in the Lord, and in the power of his might. Put on the whole armour of God, that ye may be able to stand against the wiles of the devil. For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places. Wherefore take unto you the whole armour of God, that ye may be able to withstand in the evil day, and having done all, to stand. Stand therefore, having your loins girt about with truth, and having on the breastplate of righteousness; And your feet shod with the preparation of the gospel of peace; Above all, taking the shield of faith, wherewith ye shall be able to quench all the fiery darts of the wicked. And take the helmet of salvation, and the sword of the Spirit, which is the word of God:” (Ephesians 6:10-17 King James Version of the Bible)
That is correct, we are now the terrorists; that is according to the far left African-American wing of the Democratic Party.
I am, of course, referring to this absolutely asinine rant here. I would quote that bunch of nonsensical prattle on this blog and respond to it directly; but I am afraid that my emotions would get the best of me and I would say something that I might regret later. Leave it to the idiotic Socialist Liberal Democrats, to turn a fact finding mission, about an admitted Communist, who said everything and I do mean everything; under the damn sun about white people into a “White vs Black” witch hunt; starring of course; Glenn Beck.
The truth is folks, this had nothing to do with “White vs Black” and everything to do with Right vs Wrong. In fact, here is Glenn Back’s Statement about Van Jones’s ouster:
The American people stood up and demanded answers. Instead of providing them, the Administration had Jones resign under cover of darkness. I continue to be amazed by the power of everyday Americans to initiate change in our government through honest questioning, and judging by the other radicals in the administration, I expect that questioning to continue for the foreseeable future.
That is the truth about what really happened people. The Socialist Liberals seem to forget something; and that is that not every person under the Sun voted for Barack Obama. Some that voted for radical extremists like Bob Barr, some that wrote in the name of the crazy extremist Texas Representative Ron Paul, some that actually held their noses and voted for Moderate Republican John McCain and his V.P. Pick Caribou Barbie; er, um, I mean, Sarah Palin.
That my friends is 42% of this Country of ours. Yes, President Obama won fair and square; there is no disputing that. But he won the election for President of the United States of America and NOT President of the Democratic Party; NOT President of extreme socialist wing of the Democratic Party, not President of the Socialist States of America, not the President of the African-American wing of the Democratic Party —- But the United States of America. President Barack Obama is the American people’s President and we, as Americans, have a obligation as United States citizens to hold this President accountable for every last damn decision that he and congress make. The same was true with George W. Bush and the Republican Congress and the same is and will be true with THIS President and this Congress.
We just cannot allow, nor can we afford, to become complacent in our attitude towards politics and Washington D.C. and most importantly about the Obama Administration. That is what the Obama Administration wants; everyone just to tune out and let them handle everything. Let me be the first to say this; as a Independent Conservative writer, and not as a Republican —– that complacency is what got this Country in this mess in the first place. What am I talking about? I am referring to the last nine years in the Country. Back in 2000. There was an election, we elected George W. Bush, then the day after the election, the America said, “Okay, that is over with!” and they proceeded to tune out politics and went back to their normal lives. Then 9/11 happened and everybody paid attention again, and that lasted about a month or so, maybe two or three; but by the time December of 2001 had rolled around the majority of America had moved on or lost interest. Then 2003 rolled around, George W. Bush sort of declared war against a Country that had zero to do with the 9/11 attacks. All because upon intelligence that we now know was horribly bad. Again, everyone paid attention, for a while, maybe for about a month or so. But then, the story got to be old hat and the majority of Americans lost interest. Then came 2006, the Iraq War turned ugly — troops started dying in mass; and the American people got angry and started demanding answers. Changes were made, idiots were fired, and a magical surge happened and everything was fine again, and again the people tuned Washington D.C. and the President out, again.
Then came the 2008 elections, which really started way back in 2007. I know, I blogged about them; daily. The American people started, ever so slowly to pay attention again, weary from the Bush Years, people wanted change. Then in the middle of the horse race in 2008, the economic bubble burst and burst bad it did. This is when everyone and I do mean everyone began to pay attention. What would President Bush do? What would become of our Nation? The American people actually said, “What will become…of me?” Bush did what any beltway Conservative does in time of crisis; he became a Democrat and started trying to prime the pump. He threw money at the Bankers and very quickly left the scene. By this time, the damned world was watching and some, were scratching their heads and wondering; “What on earth are these people doing to our Nation?”
Then the day of reckoning arrived; November 4, 2008. The Nation was in dire need of change and a new President; and the American people did what our Constitution guarantees us —- A right to vote. During the election, Conservatives like myself, raised our objections to the Democratic forerunner and his policies. But, the majority of the American people either were not listening or just simply did not care. They wanted a change in direction and boy did they ever get one!
Six months have passed now and Obama’s mantra of Hope and Change is now soured and the very people that voted for him are not shaking their fists in disgust at this President. His policies are failing, tax cheats have bailed, a Communist has resigned over furor of statements made by him. His own very base is now turning on him.
Where am I going with this? What is my point?
My point is this. The American people are actually paying attention to what you do, Mr. President. Do not deceive yourself into believing that you can just do what you damned well please. Your backroom deals with big pharma will come back to haunt you in 2012. Your feeble attempt to fix this economy has essentially failed. You hired a racist-baiting, bigoted, Communist for a “Green Jobs Czar.” The American people, with the assistance of the Conservative Blogosphere; you know those 42% of Americans that did not vote for you. —- have become well informed of you actions sir. We will continue to fight for what we believe in, Mr President.
We are the loyal opposition. We have nothing to apologize for….. and we’re not going any damned where. Mr. President we elected you and we will make sure, that you are doing your job. We cannot ever afford to tune out, nor will we ever do so again.
The percentage of U.S. homeowners who owe more than their house is worth will nearly double to 48 percent in 2011 from 26 percent at the end of March, portending another blow to the housing market, Deutsche Bank said on Wednesday.
Home price declines will have their biggest impact on prime “conforming” loans that meet underwriting and size guidelines of Fannie Mae and Freddie Mac, the bank said in a report. Prime conforming loans make up two-thirds of mortgages, and are typically less risky because of stringent requirements.
“We project the next phase of the housing decline will have a far greater impact on prime borrowers,” Deutsche analysts Karen Weaver and Ying Shen said in the report.
Of prime conforming loans, 41 percent will be “underwater” by the first quarter of 2011, up from 16 percent at the end of the first quarter 2009, it said. Forty-six percent of prime jumbo loans will be larger than their properties’ value, up from 29 percent, it said.
“The impact of this is significant given that these markets have the largest share of the total mortgage market outstanding,” the analysts said. Prime jumbo loans make up 13 percent of the total market.
I wonder what “The One” will do about this? Cash for Refinancing?
Here’s why:
The drop in home prices is fueling a vicious cycle of foreclosures as it eliminates homeowner equity and gives borrowers an incentive to walk away from their mortgages. The more severe the negative equity, the more likely are defaults, since many borrowers believe prices will not recover enough.
Homeowners with the riskiest mortgages taken out during the housing boom have seen the greatest erosion in equity, in part because they were “affordability products” originated at the housing peak, Deutsche said. They include subprime loans, of which 69 percent will be underwater in 2011, up from 50 percent in March, Deutsche said,
Of option adjustable-rate mortgages — which cut payments by allowing principal balances to rise — 89 percent will be underwater in 2011, up from 77 percent, the report said.
Regions suffering the worst negative equity are areas in California, Florida, Arizona, Nevada, Ohio, Michigan, Illinois, Wisconsin, Massachusetts and West Virginia. Las Vegas and parts of Florida and California will see 90 percent or more of their loans underwater by 2011, it added.
“For many, the home has morphed from piggy bank to albatross,” the analysts said.
It is classic; The textbook reason why you DO NOT give home loans to high risk persons. Because they are the first to lose their jobs when the economy takes a dump. This is the invention of the Clinton Administration. But yet, no one on the left wants to blame slick willy. Call it the Clinton bubble, call it a huge screw up by the Democrats. I call it reality. Welcome to the Obama Economy and the Democratic Future, brought to you by Clinton stupidity.
The recent unemployment numbers have undermined confidence that we might be nearing the bottom of the recession. What we can see on the surface is disconcerting enough, but the inside numbers are just as bad.
The Bureau of Labor Statistics preliminary estimate for job losses for June is 467,000, which means 7.2 million people have lost their jobs since the start of the recession. The cumulative job losses over the last six months have been greater than for any other half year period since World War II, including the military demobilization after the war. The job losses are also now equal to the net job gains over the previous nine years, making this the only recession since the Great Depression to wipe out all job growth from the previous expansion.
Here are 10 reasons we are in even more trouble than the 9.5% unemployment rate indicates:
– June’s total assumed 185,000 people at work who probably were not. The government could not identify them; it made an assumption about trends. But many of the mythical jobs are in industries that have absolutely no job creation, e.g., finance. When the official numbers are adjusted over the next several months, June will look worse.
– More companies are asking employees to take unpaid leave. These people don’t count on the unemployment roll.
– No fewer than 1.4 million people wanted or were available for work in the last 12 months but were not counted. Why? Because they hadn’t searched for work in the four weeks preceding the survey.
– The number of workers taking part-time jobs due to the slack economy, a kind of stealth underemployment, has doubled in this recession to about nine million, or 5.8% of the work force. Add those whose hours have been cut to those who cannot find a full-time job and the total unemployed rises to 16.5%, putting the number of involuntarily idle in the range of 25 million.
– The average work week for rank-and-file employees in the private sector, roughly 80% of the work force, slipped to 33 hours. That’s 48 minutes a week less than before the recession began, the lowest level since the government began tracking such data 45 years ago. Full-time workers are being downgraded to part time as businesses slash labor costs to remain above water, and factories are operating at only 65% of capacity. If Americans were still clocking those extra 48 minutes a week now, the same aggregate amount of work would get done with 3.3 million fewer employees, which means that if it were not for the shorter work week the jobless rate would be 11.7%, not 9.5% (which far exceeds the 8% rate projected by the Obama administration).
– The average length of official unemployment increased to 24.5 weeks, the longest since government began tracking this data in 1948. The number of long-term unemployed (i.e., for 27 weeks or more) has now jumped to 4.4 million, an all-time high.
– The average worker saw no wage gains in June, with average compensation running flat at $18.53 an hour.
– The goods producing sector is losing the most jobs — 223,000 in the last report alone.
– The prospects for job creation are equally distressing. The likelihood is that when economic activity picks up, employers will first choose to increase hours for existing workers and bring part-time workers back to full time. Many unemployed workers looking for jobs once the recovery begins will discover that jobs as good as the ones they lost are almost impossible to find because many layoffs have been permanent. Instead of shrinking operations, companies have shut down whole business units or made sweeping structural changes in the way they conduct business. General Motors and Chrysler, closed hundreds of dealerships and reduced brands. Citigroup and Bank of America cut tens of thousands of positions and exited many parts of the world of finance.
Job losses may last well into 2010 to hit an unemployment peak close to 11%. That unemployment rate may be sustained for an extended period.
So much for “The One” fixing the economy. Oh, right; he misread it. Looks like this Blogging gig get might be my only job for a long time to come. The Left is now spinning saying it will never recover.
I happen to like John Stossel; because he dares to take on the Liberals. Not in a mean or nasty way. But by simply stating the truth.
He writes about Michael Moore’s latest Movie:
Michael Moore has been working on another documentary. This time, he’s taking on capitalism:
“The wealthy, at some point, decided they didn’t have enough wealth. They wanted more — a lot more. So they systematically set about to fleece the American people out of their hard-earned money.”
How ridiculous is that? The wealthy, and everyone else, almost always decide that they don’t have enough wealth. People ask their bosses for raises. We invest in stocks hoping for bigger returns than Treasury Bonds bring. “Greed” is a constant. The beauty of free markets, when government doesn’t meddle in them, is that they turn this greed into a phenomenal force for good. The way to win big money is to serve your customers well. Profit-seeking entrepreneurs have given us better products, shorter work days, extended lives, and more opportunities to write the script of our own life.
He goes on…:
Moore also fails to understand is that it was not “capitalism” run amok that caused today’s financial problems. In reality, it was a combination of ill-conceivedgovernment policies and an overzealous Federal Reserve artificially lowering interest rates to fuel a bubble in the housing market. Then it was government that took money from taxpayers and forced banks to accept it.
Moore ought to understand that, because he makes a good point when he says his movie will be about “the biggest robbery in the history of this country – the massive transfer of U.S. taxpayer money to private financial institutions.”
That is indeed robbery. It sure doesn’t sound like capitalism.
Nope, sounds more like socialized Healthcare or simply Socialism in general; to me.
According to the press release you linked, Chris, “Moore has made three of the top six highest-grossing documentaries of all time,” which presumably means he has accumulated a great deal of wealth. Apparently, since he continues to foist his so-called documentaries on an unsuspecting public, Moore has decided that he doesn’t have enough wealth. He wants more–a lot more.
Like most anti-capitalists, Moore has no problem personally profiting from his own endeavors while demonizing other successful persons and attempting to have them dispossessed of their wealth. The good news is that Moore ultimately has to answer to the marketplace and thus may find himself begging for work from the very people he now condemns if enough of his audience members wake up to the fact that he’s a charlatan and stop shelling out their increasingly scarce cash for his celluloid propaganda.
Mike is right on point; that is exactly how the socialists in America are. The Socialist left wants to preach to America, how evil, rotten, nasty and no good the evil capitalist system is; all the whole pocketing a profit from their lectures, Movies and the books that they just happen to make a profit at. It is more of that “Yea for me, but Nay for thee”, type of mentality and outright hypocritical nonsense that the Far Socialist left is known for.
The troubling thing about it, is this; these knuckle-headed socialists basically control the Democratic Party and it’s message. Hence my reasoning for not wanting anything to do with them or their Party any longer.
Give me Capitalism, Freedom and Liberty or Give Me Death!
Think the Democrats will learn from their prior mistakes, and won’t make them again?
Perhaps not:
(Reuters) – Two U.S. Democratic lawmakers want Fannie Mae and Freddie Mac to relax recently tightened standards for mortgages on new condominiums, saying they could threaten the viability of some developments and slow the housing-market recovery, the Wall Street Journal said.
In March, Fannie Mae (FNM.N)(FNM.P) said it would no longer guarantee mortgages on condos in buildings where fewer than 70 percent of the units have been sold, up from 51 percent, the paper said. Freddie Mac (FRE.P)(FRE.N) is due to implement similar policies next month, the paper said.
In a letter to the CEO’s of both companies, Representatives Barney Frank, the chairman of the House Financial Services Committee, and Anthony Weiner warned that a 70 percent sales threshold “may be too onerous” and could lead condo buyers to shun new developments, according to the paper.
The legislators asked the companies to “make appropriate adjustments” to their underwriting standards for condos, the paper added.
In an interview with the paper, Weiner said the rules have “had a real chill on the ability to get these condos sold,” at a time when prices of condos have fallen enough to attract potential buyers.
This is the same sort of stupidity that got us into the mess that we are in now. You would think that the Democrats in question would learn from their prior mistakes. So much for that idea. :roll:’
Of course, when you’re dealing with a party, that has been taken over by people, who are essentially Communist-lite in nature. What do you expect?
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