Please Note: The posting of this video does not constitute an endorsement of views presented in this video. It is simply posted for information purposes only.
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In this issue of the reality report:The Egyptian Revolution triggered a government shutdown of the web. Could it happen here? Is the internet kill switch back on the congressional table? If the Feds shut down the web in the United States how could “We the People” get around the internet blackout? Gary Franchi reveals what tools you need to bypass a Government sponsored internet blockade. In this edition, Ron Paul explains the how the Federal Reserve works outside of congress’ constitutional framework. We also look at Senator Chuck Schumer failing miserably while explaining the three branches of government. Beautiful words are uttered from the lips of the Florida attorney general about Obamacare. President and founder of Freedom Law School, Peymon Montehedeh, gives us the details on this years’ Freedom Conference, and we announce a new action taking place in March. We’ll take a dip into the mailbag, deliver the results of last week’s poll, a viewer brands a new Enemy of the State… and Nina returns to deliver the Headlines from the new Reality Report News Room.
That’s George W. Bush’s daughter Barbara, legitimizing the Sodomite lifestyle.
Not only this, there is this quotable quote from President George W. Bush — Sodomite lifestyle enabler — himself from Associated Baptist News:
In discussing a meeting he had with Texas evangelist and one-time Southern Baptist leader James Robison, for example, Bush reportedly confided in Wead, “I think he wants me to attack homosexuals.” But, the future president said, he told Robison: “‘Look, James, I got to tell you two things right off the bat. One, I’m not going to kick gays, because I’m a sinner. How can I differentiate sin?’”
Bush also expresses concern over an aide’s report from a Christian Coalition meeting, according to the Times article. Reading from the report, he told Wead, “‘This crowd uses gays as the enemy. It’s hard to distinguish between fear of the homosexual political agenda and fear of homosexuality, however.’”
“This is an issue I have been trying to downplay,” Bush continued. “I think it is bad for Republicans to be kicking gays.”
That quote alone; proves to this Fundamentalist Baptist Christian, who is also a Paleo-Conservative — that George W. Bush was never a true-blue Conservative. But rather a liberal in G.O.P. clothing.
The Bush dynasty is no stranger to generational conflict: father and son differed over deposing Saddam Hussein, raising taxes and the role of the United Nations.
Now it is father and daughter who find themselves at odds over a weighty issue.
Barbara Bush, one of the twin daughters of George W. Bush, will endorse same-sex marriage on Tuesday, publicly breaking ranks with a father who, as president, pushed for a constitutional amendment banning such unions.
Ms. Bush, 29, has taped a video calling on New York to legalize gay marriage. A bill to do that was defeated in the state in 2009. She describes the issue as a matter of conscience and equality.
“I am Barbara Bush, and I am a New Yorker for marriage equality,” she says in the brief message, sponsored by an advocacy group. “New York is about fairness and equality. And everyone should have the right to marry the person that they love.”
The video ends with Ms. Bush, who lives in Manhattan, imploring the state’s residents to “join us.”
Ms. Bush is the latest child of a prominent Republican leader to embrace same-sex marriage, long considered anathema to the conservative movement. Gay rights advocates have been quick to seize on the generational split as evidence that the acceptance of same-sex marriage is blind to party affiliation and family values.
I think it would be wise for the Conservative Christian movement to rise as one and say, “Never Again!” to electing a man based upon family pedigree and to elected someone who does not pass muster or a good vetting by the Conservative Christian movement.
Further more, let me say this; this movement of the Conservative Republicans away from traditional family values is troubling. I say this without shame at all; I am a Conservative Christian, in the sense that I do support traditional family values. However, I do not believe in the use of any sort of Government of imposing my beliefs on anyone else. That is what Muslims do with Sharia Law — and I do not support that at all. However, for the daughter of a so-called “Conservative Republican” to come out and support a law such as this, is totally repugnant and should show all parties concerned, just what sort of a Conservative that the Bush dynasty really was. In this sense; and only in this sense, Pastor Chuck Baldwin was absolutely correct.
I believe that all Conservative Christians in the 2012 elections should really prayerfully consider the persons running in the Republican primaries and if the persons running for President do not pass muster; do not vote for them, at all.
We as Conservative Christians must decide what our allegiances are to; to the Republican Party or to the the Lord Jesus Christ and His Word. There is no middle ground, choose your side today.
RACISTS like this, are begging for war. Let’s give them one. It is 220,000,000 white people, against 37,000,000 blacks. You know what a genocide looks like? You don’t, because there is no one left, to remember it. Be? smart, though. Let them, make the first violent moves. Let the people, see their violence. Let them give us a reason. Be patient. Do not move, as an individual. Wait. Keep giving them rope, they need, to hang themselves. LOL!!!
Bob Prechter’s Conquer The Crash reveals whether the Fed really can rescue the US economy
January 27, 2011
By Elliott Wave International
Since its creation in 1913, the primary intended role of the U.S. Federal Reserve Bank has been that of protector. In theory, the central bank was bestowed with the power to shape monetary policy in a way that would keep both booms and busts in check. The two main tools at its disposal — interest rates and money creation — would provide a “ceiling of normalcy” above expansions AND a “net of safety” below contractions.
To this day, the financial mainstream holds great faith in the Fed’s ability to fulfill its save-the-day duties — as these recent news items make plain:
“Why Raising Fed Funds Rate Is Positive For Equities.” (Seeking Alpha)
“Fed’s Moves Lift All Asset Classes.” (Associated Press)
“US Stocks Erasing Losses: The aggressive moves of the Fed have been an important driver for the stabilization of stock prices.” (Bloomberg)
But of all the variables the Fed creators took into account, there’s one glaring factor they neglected to consider: Namely, it cannot force consumers to spend, creditors to lend, or businesses to borrow. The events of 2007-2009 “credit crunch” and the subsequent “Great Recession” made that obvious. Remember how the government was upset at banks for sitting on the bailout funds instead of lending them out to consumers? And consumers weren’t exactly lining up on the street to get a loan, either.
The Fed’s inability to change social mood is the central theme in Chapter 13 of EWI President Bob Prechter’s NY Times business bestseller book Conquer the Crash. There, Bob describes the Fed’s strategy of lowering the federal funds rate to stimulate spending to be as effective as “pushing on a string.” Writes Bob:
“The primary basis for today’s belief in perpetual prosperity and inflation with an occasional recession is what I call the ‘Potent Directors Fallacy.’ It is nearly impossible to find a treatise on macroeconomics today that does not assert or assume that the Federal Reserve Board has learned to control both our money and our economy. Many believe that it also possesses the immense power to manipulate the stock market. The very idea that it can do these things is false.”
And so begins one of the most groundbreaking studies into the very real INABILITY of the Fed to fell the great bears of economic declines, or to feed the great bulls of economic vigor.
The best part is, you can read Chapter 13 of Conquer the Crash in its entirety FREE via a Club EWI resource “You Can Survive And Prosper In A Deflationary Depression.” The free report also includes SEVEN other chapters of Conquer the Crash that shed equal light on some of the most misleading notions of mainstream economic wisdom.
Don’t stay in the dark. Read all 8 chapters today by joining the rapidly expanding free Club EWI community today. Here’s what you’ll learn:
Chapter 10: Money, Credit and the Federal Reserve Banking System
Chapter 13: Can the Fed Stop Deflation?
Chapter 23: What To Do With Your Pension Plan
Chapter 28: How to Identify a Safe Haven
Chapter 29: Calling in Loans and Paying off Debt
Chapter 30: What You Should Do If You Run a Business
Chapter 32: Should You Rely on Government to Protect You?
Chapter 33: A Short List of Imperative “Do’s” and Crucial “Don’ts”
U.S. Rep. Mike Pence shut the door today on a run for the presidency, but left wide open the likelihood that he’ll seek a different office: Governor of Indiana.
“In the choice between seeking national office and serving Indiana in some capacity, we choose Indiana,” Pence, R-Columbus, said of himself and wife Karen in a letter being sent to supporters. “We will not seek the Republican nomination for president in 2012.”
He said he would make a decision “later this year” about what his next political step is, but by not running for president it is considered a virtual certainty that he will run for the GOP nomination for governor. While he could, instead, run for a seventh term in Congress, that’s not considered likely given that Pence gave up the job that would have made him the fourth-highest ranking Republican in the House after the November elections, in order to focus on other political opportunities.
Needless to say, a big reason for the “Draft Pence” push in recent weeks was some social cons being uncomfortable with Palin or Huckabee as the nominee. Where do those people turn now?
To be quite honest, if all the social cons have to choose from is Huckabee and Palin; then that speaks to the sorry condition of the GOP in this day and age. I would say Mitt Romney, but the Evangelical Christians loathe him. As a Fundamentalist Baptist, I can tell you that I am not too big on the idea of a Mormon being in the White House at all. What I really believe personally is that the Republican Party needs to focus on fiscal issues and leave the social cons out of the mix in 2012. Because honestly, that crowd is so darned fickle anyways, not to mention the rank hypocrisy that comes from those ranks. I mean, just look at Palin, rode in on the white horse of social Conservatism and a few weeks later, her daughter comes up pregnant.
The simple solution is Tim Pawlenty. He is a fiscal Conservative, he is not a extremist and his family is not a reality show. I personally believe he would be a good choice for the G.O.P. in 2012. Here is hoping that Tim runs in 2012, because for once, I would like to vote for a Republican, that actually acts like one and not some made beltway boy or some right wing extremist or a talk show reality star. I want a real CEO type, that will make decisions to help small business and people like me find jobs again.
We need to put America back to work. We cannot do that with a shrieking harpy glamor model who’s got a reality show; that somehow believes that she is entitled to be President, because of her sex organs —- nor can we do that with a Democrat with a Bible who is prone to extremism.
Please note: The posting on this video does NOT constitute support for all of the views therein. It is posted for your education and information.
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Synopsis: In the 78th edition of the Reality Report, Gary Franchi draws the direct parallels America shares with Hitler’s Germany and provides the solution to avoiding their terrible fate. We take a look at Ron Paul’s Texas Straight Talk where he discusses what a new found interest in the Constitution could mean for America. CEO of Euro Pacific Capital, Peter Schiff tells us why the Chinese modeled their currency after the U.S. dollar. We also hear from the former U.S. military analyst who is responsible for leaking the Pentagon Papers, Daniel Ellsberg. He explains the recent war on whistle-blowers. Chris Mathews latest hypocrisy is revealed and Angie breaks down the news. As always we take a dip into the mailbag, reveal the results from last weeks viewer poll and brand a new Enemy of the State.
Because there is a lack of stuff to really blog about, I figured it would be time to post some good old fashioned gun porn — and boy do I have a bunch to post!
Elliott Wave International’s Jeffrey Kennedy explains many ways to use this basic tool
January 19, 2011
By Elliott Wave International
The following trading lesson has been adapted from Jeffrey Kennedy’s eBook, Trading the Line – 5 Ways You Can Use Trendlines to Improve Your Trading Decisions. Now through February 7, you can download the 14-page eBook free. Learn more here.
“How to draw a trendline” is one of the first things people learn when they study technical analysis. Typically, they quickly move on to more advanced topics and too often discard this simplest of all technical tools.
Yet you’d be amazed at the value a simple line can offer when you analyze a market. As Jeffrey Kennedy, Elliott Wave International’s Chief Commodity Analyst, puts it:
“A trendline represents the psychology of the market, specifically, the psychology between the bulls and the bears. If the trendline slopes upward, the bulls are in control. If the trendline slopes downward, the bears are in control. Moreover, the actual angle or slope of a trendline can determine whether or not the market is extremely optimistic or extremely pessimistic.”
In other words, a trendline can help you identify the market’s trend. Consider this example in the price chart of Google.
That one trendline — drawn between the lows in 2004 and the lows in 2005 — provided support for a number of retracements over the next two years.
That’s pretty basic. But there are many more ways to draw trendlines. When a market is in a correction, you can draw a trendline and then draw a parallel line: in turn, these two parallel lines can create a channel that often “contains” the corrective price action. When price breaks out of this channel, there’s a good chance the correction is over and the main trend has resumed. Here’s an example in a chart of Soybeans. Notice how the upper trendline provided support for the subsequent move.
For more free trading lessons on trendlines, download Jeffrey Kennedy’s free 14-page eBook, Trading the Line – 5 Ways You Can Use Trendlines to Improve Your Trading Decisions. It explains the power of simple trendlines, how to draw them, and how to determine when the trend has actually changed. Download your free eBook.
Former House Majority Leader Tom Delay, R-Texas, was sentenced on Monday to three years in prison for conspiracy to commit money laundering.
The sentence came after Delay was convicted in November of trying to illegally influence elections in the Lone Star State.
In a 10 minute speech to Senior Judge Pat Priest, Delay insisted he did nothing wrong.
“I can’t be remorseful for something I don’t think I did,” Delay said, adding that accountants and lawyers checked everything he did.
“This criminalization of politics is very dangerous. It’s dangerous to our system. Just because somebody disagrees with you they got to put you in jail, bankrupt you, destroy your family,” he told Priest.
However, the prosecutor in the case saw the matter differently.
“I think Tom Delay said it best. He said that he was arrogant,” Assistant District Attorney Gary Cobb said.
“His statement was an extremely arrogant statement where he refused to accept responsibility, refused to show any remorse for the offense of which he’s been convicted of,” Cobb added.
I happen to see this a little differently than Tom Delay. I believe there is another motivation factor here; and that factor is race. This is nothing more, than a political and racial watch hunt by a black liberal Democrat who wants to make a name for himself by going after and bringing down a White Conservative Republican. I have information in my possession from well-placed anonymous sources, e-mails from this man saying that he was going to bring down Tom Delay and some very nasty racist words were used to describe Mr. Delay.
It is a sad day in America when out of control liberal blacks can attack, smear and persecute White Americans for crimes that they did not commit.
One of the fiercest gun-control advocates in Congress, Rep. Carolyn McCarthy (D-N.Y.), pounced on the shooting massacre in Tucson Sunday, promising to introduce legislation as soon as Monday targeting the high-capacity ammunition the gunman used.
McCarthy ran for Congress after her husband was gunned down and her son seriously injured in a shooting in 1993 on a Long Island commuter train.
“My staff is working on looking at the different legislation fixes that we might be able to do and we might be able to introduce as early as tomorrow,” McCarthy told POLITICO in a Sunday afternoon phone interview.
Gun control activists cried it was time to reform weapons laws in the United States, almost immediately after a gunman killed six and injured 14 more, including Rep. Gabrielle Giffords, in Arizona on Saturday.
Many said that people with a history of mental instability, like the alleged shooter, Jared Lee Loughner, should not be able to buy a gun — and no one should be able to buy stockpiles of ammunition used by the 22-year-old assailant.
McCarthy said she plans to confer with House Speaker John Boehner and Minority Leader Nancy Pelosi to see “if we can work something through” in the coming week.
McCarthy’s spokesman confirmed the legislation will target the high-capacity ammunition clips the Arizona gunman allegedly used in the shooting, but neither he or the congresswoman offered any further details.
“Again, we need to look at how this is going to work, to protect people, certainly citizens, and we have to look at what I can pass,” McCarthy said. “I don’t want to give the NRA – excuse the pun – the ammunition to come at me either.”
I understand her husband getting killed and he kids hurt in a shooting. But is it really necessary to impose her idiotic will on the American people?
Of course, unless something major changes; this bill will never, ever make it to the President’s desk. The Democrats tried this whole thing back during the Clinton era and ended up paying for it dearly during the elections. They fought this battle —- and ultimately lost. So, I expect that this bill will be treated as such.
What will be interesting to note is whether the Conservative in Congress will stick to their principles ….or will they go the Neo-Conservative route and sell out their principles to the liberals, who want to strip our freedoms in the name of safety? Remember the only difference between a big Government liberal and a Big Government Conservative Neo-Con is the type and names of their special interest groups; there are others, but I do not want this article to be too long. 😉
What really needs to happen, is some freedom loving American needs to challenge Rep. Carolyn McCarthy at the ballot box, come election time. Because we just cannot allow these far-leftist loons to use a sad situation like this, to rob peace loving, and law abiding citizens of the United States of American of the freedoms that they hold dear.
It is a often used phrase among second amendment advocates, that “Gun Control is less about guns and more about Control.” This attempt by this far leftist loon proves that beyond a shadow of a doubt.
America is watching congress, act wisely; we voted you in — we can and will, vote you out.
Normally, I would not touch a story like this; but this one sticks out a bit:
WASHINGTON (AP) — First, fiery packages sent to top officials in Maryland were opened, revealing an angry message complaining of the state’s terrorism tip line. Then, a mailing addressed to the nation’s homeland security chief ignited with a similar flash of fire and smoke at a D.C. postal processing facility.
While authorities have not said if the latest parcel contained a note, they did say the three packages were alike. The targeting of Homeland Security Secretary Janet Napolitano also seemed to echo anger expressed by the mailer of the first two.
Napolitano launched a nationwide “see something, say something” campaign in July, and her recorded voice can be heard in Washington-area subway stations, reminding commuters to report suspicious behavior. The program expanded last month to include more than 230 Walmarts across the country.
The Maryland packages had an explicit message, railing against highway signs urging motorists to report suspicious activity by calling a toll-free number. The message read: “Report suspicious activity! Total Bull—-! You have created a self fulfilling prophecy.”
This is one of those blog entries that I do not like having to write —- but because I am Christian and because I happen to believe that anarchy is wrong — I feel the need to write about it.
Contrary to what most radicals might want you to believe, sending package bombs to Governmental offices and targeting Governmental officials is NOT Patriotic! Nor is it cool or even remotely acceptable. In this great Country of ours, we have a perfect system of protest against existing Governments. It is called the Ballot box. We also have the first amendment, which allows us to peacefully assemble and protest against the actions of our Government. You saw that during the Tea Party protests this summer, and because of those protests and because of the media coverage of them, there was a landslide victory by the Republicans in the House and parts of the Senate as well.
Those who stoop to violence towards our Government have given up hope on the political system and on the process of elections. Violence solves nothing at all; it just causes the other side of the political fence to blame those of us, who are peace-loving Americans, who do not agree with the big Government polices of the liberals in Congress and in the White House — for this sort of ungodly nonsense. When in all honesty, it is not our fault.
I want it to be publicly known that this “right of center” political blog and it’s owner condemn this sort of terrorist actions in the highest terms possible and it is my personal hope and prayer that they catch the person or persons responsible for this and that they prosecute this godless vermin to the fullest extent of the law. Further more, I believe that if Fox News, and every other Conservative outlet out there has ANY sort of integrity at all; these organizations would come out and say the same exact thing.
Unfortunately, among the more Paleo-libertarian crowd, this sort of extremist action is seen as heroic and even justified — which is, of course, asinine. Acts of violence, in a civilized society, such as ours, to make a political point, is right on par with what Al-Qaeda and other such Jihad groups wish to do here in America. In other words, this is nothing more than straight up terrorism and should be treated as such.
Again, in closing, having a political stance and opinion is fine — even acceptable. However, when one decides to hurt other people to express that opinion — you stop being a patriot or even an American and you become a terrorist and a criminal. There is a difference and I believe that more Bloggers on the right ought to be saying this.
Update: Dan says I am renouncing myself. Which is idiotic at best. I simply am saying that those, like Lew Rockwell, that find this sort of a thing to be chick are not patriots. But, TERRORISTS…. Period, FULL STOP.
It is that time again. Time to take a look at what were the top postings of 2010.
It is important to remember that this was a down year for this blog. I just have not had the drive to post like I was back in 2009 and 2008. The mid-terms were a bit interesting, as was the passage of the health care bill. However, I just did not have that drive that I did back when I first started this blog. I think it just has to do with the fact that my main reason for beginning to blog, that would be the Presidency of George W. Bush. Not to mention the Bush Administration’s handling of the invasion and occupation of Iraq. Now that the Bush era is over, I really do not have a good reason to continue this; Yes, Obama’s White House is just as bad, if not worse. However, I just cannot muster the outrage towards the man, that many on my far right feel towards the man. Most of it, when one is really being honest is racially based. I mean, I do not remember the right being this hot and heavy against Bill Clinton. It was there, do not get me wrong — but I do not remember that this level.
Anyhow, I will still be around, I do not plan on going anywhere. I will not allow my political foes to win. I will stick around and continue to give you my feelings on things.
Having said all of that, here are the top postings and pages for 2010:
PAGE OR POST ——————————— Hits:
Home page 19,038
Considering the fact that I do no advertising on this blog at all. That is not a bad number. I really do not get linked here at all. I even had one so-called Conservative Blogger dump on me big time and basically toss me under the bus, because some of Michelle Malkin’s fanboys put the pressure on him. He knows who he is, and “You reap what you sow” I always say…
There are many who link here and there are places that I submit my postings to, I thank everyone who has came, read and clicked an ad or two, it does help. 🙂
So there you have it, my referrers. Not all of them are friendly. But hey, that is politics, not everyone is going to agree with me. Even I know that. 🙂
Again, to those who still read here. Thank You so very much for your readership. Perhaps 2011 will be a more prosperous year for me. I will admit, this year, money-wise was not that great. I am still unemployed and prospects are not that great. I did survive, but, if it were not for my Christian parents, I would be so very screwed. 🙁 I do not say that for pity or anything — I say it, because it is true. This is my reality folks and I know some would rather mock than help —- They have their reward, as Jesus did say.
There is a common misconception that ALL Conservatives are filthy rich or something to that effect. If only it were true. I am most likely the poorest Conservative Christian Blogger on the planet. Not by choice, but by circumstance — sometimes stuff just happens. I do not wallow in pity though, as I could much, much worse off. I have a roof over my head and three square meals a day. I also have a warm bed to sleep in at night. I also know Jesus Christ as my personal Saviour and I like to think that he is Lord over my life —- and that my friends, is ALL that matters! Everything else, is secondary. As long as you have Jesus in your heart, you are set for life. God never fails, and his word is settled in Heaven!
Some people ask why I even bother to continue this blog, even though 90% of the Conservative Blogging world has written me off. I will tell you why. Because as long as there are progressives out there that want to destroy our Conservative Christian values and want to impose on us a big centralized Government; liberty is threatened. As long as this is the case. I will be fighting this fight. Is it my “calling?” Eh, I do not know that to be a fact. But I do know that my blog does get read and that my opinion is being heard. Now, whether people like what I write and have to say, is another story. I do not claim to be the perfect “Conservative” and I am certainly not your average big Government liberal! I am just someone who saw wrong and decided to write against it. My politics have evolved much — but my commitment has remained the same — that is to be a uncompromising voice of reason in a world of political, religious and moral confusion. Which is what liberalism, whether political or religious, actually is. It is a Babylonian mentality. As Patriotic Americans, as Christians, we must stand up for what we know to be right. For that document called the Constitution. This is not a call to radicalism or violence, it is simply a call to be aware and watch.
Having said all that… Thank you and continue to read here in 2011. It will be a interesting year to watch!
A free Club EWI report reveals why bonds do not provide shelter from the storm
December 23, 2010
By Elliott Wave International
TREASURIES — the very name conveys a thing that is secure, protected, and will appreciate over time. Otherwise, it’d be called something like “TRASHeries” or “Mattress Stuffers.” Then, there’s the official seal of the US Department of Treasury: its image of a scale and a key symbolize “balance” and “trust.”
And, finally, there’s the mainstream economic experts who have it on good authority that long-term bonds increase in value during financial instability and uncertainty.
On this, the following news items from November-December 2010 reflect the enduring faith in fixed-income assets as the ultimate safe-havens:
“Bonds Tumble On Signs of Economic Recovery” (Reuters)
“US Treasury Prices Rise as traders positioned for negative headlines….” (Associated Press)
“Treasury’s rise as investors sought shelter in safe haven assets amid rising fears about sovereign debt woes in the eurozone. The slow motion train wreck is likely to play out over year end as each country plays musical chairs with solvency. The market’s concern here is ‘What is next?’ The 10-year Treasury yield will fall if the problems get worse from here.” (Wall Street Journal)
There’s just one problem with this notion: namely, bonds (of any denomination) do NOT have a built-in disaster premium. This is the myth-busting revelation of the latest, free report from Elliott Wave International. The resource titled “The Next Major Disaster Developing For Bond Holders” includes a thoughtful selection of various EWI publications that expose the very real vulnerability of bond markets to economic downturns.
The premier study on the subject comes from Chapter 15 of EWI President Robert Prechter’s book Conquer The Crash by way of this memorable excerpt:
“If there is one bit of conventional wisdom that we hear repeatedly with respect to investing, it is that long-term bonds are the best possible investment [in downturns]. This assertion is wrong. Any bond issued b a borrower who can’t pay goes to zero in a depression. Understand that in a [major contraction], no one knows its depth and almost everyone becomes afraid. That makes investors sell bonds of any issuers that they fear could default. Even when people trust the bonds they own, they are sometimes forced to sell them to raise cash to live on. For this reason, even the safest bonds can go down, at least temporarily, as AAA bonds did in 1931 and 1932.
The first chart (see below) shows what happened to bonds of various grades in the deflationary crash. And the second chart (see below) shows what happened to the Dow Jones 40-bond average, which lost 30% of its value in four years. Observe that the collapse of the early 1930s brought these bonds’ prices below — and their interest rates above — where they were in 1920 near the peak in the intense inflation of the ‘Teens.”
That’s just the tip of this myth-busting report. “The Next Major Disaster” uncovers flaws in other widely-accepted bond lore, including these two assumptions:
High -yield bonds rise during economic expansions
AND — municipal bonds provide a steady refuge in times of economic stress.
Read more about Robert Prechter’s warnings for holders of municipals and other bonds in his free report: The Next Major Disaster Developing for Bond Holders. Access your free 10-page report now.
It’s that time again when volume dries up and prices rise into the new year. A lot of individuals are scrambling to prepare for the holidays, even though we had a year to prepare. The big money has already done most of their year end shuffling and will be taking it easy until January.
The market is overbought and sentiment readings are at extreme levels which in the past have been the start of large sell offs and even bear markets. While I am keeping a close eye for a top, there is not much we can do but stay long stocks and commodities until the market tips its hand and distribution selling is in control. The U.S. federal government is the only wild card going into year end that should be on traders’ radars. They have been doing a great job boosting prices in the equities and commodities market, but can they continue to hold things up when the big money and the proverbial herd start unloading positions in 2011? — Please, Click here to read the rest.
The Senate on Saturday blocked a bill that would have created a path to citizenship for certain young illegal immigrants who came to the United States as children, completed two years of college or military service and met other requirements, including passing a criminal background check.
The vote by 55-41 in favor of the bill, which is known as the Dream Act, effectively kills it for this year, and its fate is uncertain. The measure needed the support of 60 senators to cut off a filibuster and bring it to the floor.
Supporters said they were heartened that the measure won the backing of a majority of the Senate. They said they would continue to press for it, either on its own or as part of a wide immigration overhaul that some Democrats hope to undertake next year and believe could be an area of cooperation with Republicans, who will control a majority in the House.
Most immediately, the measure would have helped grant legal status to hundreds of thousands of illegal immigrant students and recent graduates whose lives are severely restricted, though many have lived in the United States for nearly their entire lives.
Young Hispanic men and women filled the spectator galleries of the Senate, many of them wearing graduation caps and tassels in a symbol of their support for the bill. They held hands in a prayerful gesture as the clerk called the roll and many looked stricken as its defeat was announced.
President Obama had personally lobbied lawmakers in support the bill. But Democrats were not able to hold ranks.
Five Democrats joined Republicans in opposing the bill. They were Senators Max Baucus of Montana, Kay Hagan of North Carolina, Ben Nelson of Nebraska, Mark Pryor of Arkansas and Jon Tester of Montana.
And three Republicans joined the balance of Democrats in favor of it: Robert Bennett of Utah, Richard Lugar of Indiana, and Lisa Murkowski of Alaska.
Mr. Obama, in a statement, called the outcome “incredibly disappointing” and said that he would continue fighting to win approval of the bill.
Which should prove that America is a center-right Country and that most Americans oppose any sort of disruption of what is commonly known as “RULE OF LAW.”
Powerline is one of the original Conservative Blogs around, they started way back in 2002.
In a personal note: I have been accused by fools of being an antisemitic person; which is, of course, idiotic at best. Seeing that being the case, I will say this. Powerline is a stalwart defender of Israel. I have read there quite a bit. Admittedly, I do not always agree with the positions there; however, I will give those men credit; their consistency in defense of Israel’s Liberty and of the Jewish State is something to be greatly admired. Not to mention, they are truly a stalwart defender of American Liberty.
US Treasuries last week suffered their biggest two-day sell-off since the collapse of Lehman Brothers in September 2008. The borrowing costs of the government of the world’s largest economy have now risen by a quarter over the past four weeks.
Such a sharp rise in US benchmark market interest rates matters a lot – and it matters way beyond America. The US government is now servicing $13.8 trillion (£8.7 trilion) in declared liabilities – making it, by a long way, the world’s largest debtor. Around $414bn of US taxpayers’ money went on sovereign interest payments last year – around 4.5 times the budget of America’s Department of Education.
Debt service costs have reached such astronomical levels even though, over the past year and more, yields have been kept historically and artificially low by “quantitative easing (QE)” – in other words, Federal Reserve Chairman Ben Bernanke’s virtual printing press. Now borrowing costs are 28pc higher than a month ago, with the 10-year Treasury yield reaching 3.33pc last week, an already eye-watering debt service burden can only go up.
Few on this side of the Atlantic should feel smug. The eurozone’s ongoing sovereign debt debacle has pushed up Germany’s borrowing costs by 27pc over the last month – to 3.03pc. The market has judged that if Europe’s Teutonic powerhouse wants the single currency to survive, it will ultimately need to raise wads of cash to absorb the mess caused by other member states’ fiscal incontinence…
…Some say that growing signs of a US economic recovery are positive for stocks, which means money is being diverted out of Treasuries, so lowering their price, which pushes up yields.That’s wishful thinking. Sovereign borrowing costs have just surged in the US – and therefore elsewhere – because a politically-wounded President Obama caved-in and extended the Bush-era tax cuts, combining them with a $120bn payroll tax holiday…
…The market is increasingly alarmed at the rate of increase of the US government’s already massive liabilities. America’s government debt is set to expand by a jaw-dropping 42pc over the next few years, reaching $19.6 trillion by 2015 according to Treasury Department estimates presented (amid very little fanfare) to Congress back in June. Since then, government spending has risen even more. So US debt service costs, like those of many other Western nations, are expanding rapidly in terms of both the volumes of sovereign instruments outstanding, and the yields on each bond.
You know what that means? It means that if you are a small time investor; that you need to get out of the Market NOW! This could have a huge impact on the market, and you could lose very big. I do virtual trading and so far, I have done well on my trades. But I am not about to lose my shirt, so, I ordered a sell off of everything. Now the big time guys will be able to afford to ride this out, because they have the wealth to spare. But the small time people will get burned. The best thing I can tell you small times investors, is to dump your shares and put it all into Gold. That would either be into EFT‘s or real actual Gold.
Disclaimer: I do not claim to be a expert on the subject of stocks, trading or even Gold. However, it does stand to reason that when such news as this is report, that it will affect the U.S. markets and the United States financial system. I do however, promote a great investment advice service called Elliotwave. You might want to check it out.
Lovers necessarily keep or share secrets. Being in a healthy relationship means achieving a certain level of intimacy, where shared knowledge of each others’ weaknesses and insecurities is protected by a bond of mutual trust. Sometimes lovers might do devilish things that outsiders wouldn’t understand, or shouldn’t be privy to, and this is fine. But by and large, what they do is simply no one else’s business.
But imagine that the man in the relationship kept it a secret that he had other women on the side, kids, a criminal record, venereal disease, and basically betrayed his lover in every way imaginable, unbeknownst to her?
Now imagine a third party felt it was their moral duty to reveal it?
No one questions that governments must maintain a certain level of secrecy, including WikiLeaks founder Julian Assange, who told Time that “Secrecy is important for many things … [but it] shouldn’t be used to cover up abuses.” The entire premise of Assange’s whistleblower organization is this: To what degree is government secrecy justified? And when particular secrets could be damaging to the other partner in the United States government’s relationship — the American people — should these secrets be revealed in the name of protecting the public?
How often does our government use “national security” simply as an excuse to cover up questionable dealings? Reports Time: “in the past few years, governments have designated so much information secret that you wonder whether they intend the time of day to be classified. The number of new secrets designated as such by the U.S. government has risen 75% … . At the same time, the number of documents and other communications created using those secrets has skyrocketed nearly 10 times…”
To say that government must keep secrets is not to say that all government secrets must be kept.
As admitted even by Pentagon officials and Defense Secretary Robert Gates, none of WikiLeaks’ revelations do anything to compromise national security or endanger American lives — but they have wreaked havoc on political life in Washington, D.C. Americans are not supposed to know, for example, that their government bullied and threatened individuals and other governments that might have undermined the Copenhagen climate change summit in 2009. The federal government attempting to squelch anyone who might undermine global-warming dogma? Do WikiLeaks’ conservative critics believe revealing this is a “national security” risk?
Americans are not supposed to know, apparently, that behind the scenes Saudi Arabia has been encouraging the U.S. to take military action against Iran. But if we end up going to war with Iran shouldn’t it be in America’s national interest, and not simply as a subcontractor for another country? Asks Fox News’ Judith Miller: “Why should Americans not know that Arab states, often at the top level, have been urging Washington to take military or other drastic action against Iran, while they publicly oppose such action?”
And when did conservatives become so protective of Hillary Clinton? What happened to the days of the “Stop Hillary Express,” when right-wing talk radio portrayed the former first lady as Satan and theorized about all the devious ways in which, if in power, she might conspire to bring down the country? When WikiLeaks revealed that Secretary of State Clinton tried to obtain DNA, fingerprints, credit-card numbers, and other private information belonging to United Nations officials, we learned that Clinton’s style was every bit as mafia-esque as her conservative critics once warned. Yet conservatives now attack WikiLeaks for revealing what they once feared. It should also be remembered that the same conservatives now calling for Assange’s head either ignored or were sympathetic to Lewis “Scooter” Libby’s outing of CIA operative Valerie Plame allegedly at the Bush administration’s behest — a revelation arguably far riskier to our national security than anything ever released by WikiLeaks.
But the worst hypocrisy throughout this controversy has been in conservatives reflexively defending the government and attacking WikiLeaks. Since when have conservatives believed that Washington should be able to shroud any action it likes in secrecy and that revealing government’s nefarious deeds is tantamount to treason? Isn’t it government officials who might secretly work for corporate, ideological or transnational interests — and against the national interest — who are betraying their country?
Interestingly, Wikileaks’ founder espouses the traditionally conservative, Jeffersonian view that America’s constitutional structure limits and lessens government corruption. Reported Time: “Assange appears to believe that the U.S. has not become ‘a much-worse-behaved superpower’ because its federalism, ‘this strength of the states,’ has been a drag on the combination of the burgeoning power of the central government and a presidency that can expand its influence only by way of foreign affairs.”
Decentralizing government power, limiting it, and challenging it was the Founders’ intent and these have always been core conservative principles. Conservatives should prefer an explosion of whistleblower groups like WikiLeaks to a federal government powerful enough to take them down. Government officials who now attack WikLleaks don’t fear national endangerment, they fear personal embarrassment. And while scores of conservatives have long promised to undermine or challenge the current monstrosity in Washington, D.C., it is now an organization not recognizably conservative that best undermines the political establishment and challenges its very foundations.
Over the past 2 weeks we have seen the market sentiment change three times from extreme bullish to bearish and back to bullish as of today. Normally we don’t see the herd (average Joe) switch trading directions this quickly. Over the past 10 years I found that the average time for the herd to reach an extreme bullish or bearish bias takes between 4-6 weeks in length. It is this herd mentality which makes for some excellent trend trading opportunities. But with the quantitative easing, thinner traded market, and lack of trading participants (smaller herd) I find everyone is ready to change directions at the drop of a hat.
The old school traders/investors who don’t use real-time data or charts, and who dabbled in stock picks, and options trades here and there have mostly exited the trading arena from frustration or losing to much money. This group accounted for a decent chuck of liquidity in the market and was also the slowest of the herd to change directions.
The new school, today’s smaller herd is much more aggressive and quicker to act on market gyrations. I think this is because the only people left in the market are those who make a living pulling money from the market and those who feel they are really close to mastering the stock market. It is these individuals who are using trading platforms with real-time data, charts and scanners to help get a pulse on the market so they can change directions when the big boys do. I feel this is the reason why the market is able to turn on a dime one week to another over the past 8 months… The easy prey (novice and delayed data traders) are few and far between and the fight to take money for other educated traders seems to be getting a little more interesting to say the least.
Anyways, enough about the herd already…
It’s been an interesting week thus far with stocks and commodities. The week started with a large gap up only for strong selling volume to step in and reverse direction the following day. It is this negative price action that starts to put fear into the market triggering a downward thrust in the market. During an up trend which we are in now, I look for these bearish chart patterns to form as they tend to trigger more selling the following days which cleanses the market of weak positions. Once a certain level of traders have been shaken out of their positions and are entering positions in order to take advantage of a falling market, that’s when we get the next rally, catching the majority of traders off guard as they panic to buy back their short positions. It’s this short covering which sparks a strong multi day rally and kicks off the new leg up in the market.
Currently we getting some mixed signals. The market sentiment is the most bullish it has been since 2007, just a little higher than the Jan & March highs this year. This makes me step back and think twice about taking any sizable long positions. Any day now the market could roll over. Another bearish signal is the fact that we just had a very strong reversal day for stocks and metals to the down side. That typically leads to more selling.
But if we look at the positive side of things, the trend is still up, this is typically a strong time for stocks as we go into Christmas/Holiday season, also the market breadth is really strong with the number of stocks hitting new highs has really taking off.
SP500 – Daily Chart
Below you can see the reversal candles along with short term and intermediate support levels. Although the market sentiment is screaming a correction is near, we must realize that sentiment can remain at this level for an extended period of time while the market continues to trend. This is one of the reasons why we say “The Trend Is Our Friend”.
I am hoping for a pullback and would like to see market sentiment shift enough on an intraday basis to give us a low risk entry point.
Gold – Daily Chart
A reversal candle is seen as a sell signal or a profit taking pattern. Short term aggressive trades use these to lock in quick price movements. With so many traders watching gold, it caused a flood of sell orders to push gold down today.
Mid-Week Conclusion:
In short, each time we see some decent selling in the market its get bought back up. Today was another perfect example as we had an early morning sell off, then a light volume rally for the second half of the session and a end of day short squeeze during the last 30 minutes. Gold has pulled back to the first short term support level. Because of the large following in gold I would like to see if there will be another day of follow through selling before possibly looking to take a trade.
Now to listen to the Democratstalk, now is a time of doom and gloom for them.
However, I have to make a startling confession; I was actually impressed with part of this presser. No, I am not talking about the part where he called the GOP hostage takers and so forth. :roll:I expected that stuff, heck, he is a Liberal Democrat. What else was he supposed to say?!?
I am referring to the part where President Obama basically told the Democratic Party and the Democratic Party folk in Congress, “Hey guys? If you had done your jobs before the primary election, we could not be in this position; so, put a sock in it and be glad that we got what we got from the other side!” That impressed me greatly. Any leader who is willing to stand up to his own party and tell them to “get bent” has my respect.
I tend to believe that this will be the end of the “nice” Barack Obama and might just be the beginning of the savvy stern leader President Barack Obama. One of the biggest complaints about him, is that he was too soft. The President might just be trying to reverse that image. It can’t hurt. I mean, maybe if he actually showed some leadership. It might just help his poll numbers.
I do not expect much praise from the Neo-Con side of the fence, as they’ve made a cottage industry out of being his biggest critics. However, I do offer it, as I am not nearly as into the smear machine as some.
