The Business Insider Reports Greece Is Already Trying To Renegotiate An FT Report
The Business Insider Reports Greece Is Already Trying To Renegotiate An FT Report
The Business Insider Reports Greece Is Already Trying To Renegotiate An FT Report
8 min]
Retail Investors Have Wisely Taken Profits Lehman Sues JPMorgan to
Recover Billions of Dollars Bank fails and goes about its business -
latimes.com China Euro Sales Report Sours Markets Late Europe's
"Volcanic Cloud" Smothers Rally: Secular Bear Still Alive, Park Says :
After rallying early Wednesday, stocks tumbled into the close. On an absolute basis, the
loss was fairly minor; the Dow ended down 69 points. But the index fell below 10,000 and
the psychological damage was potentially great given the chatter about Tuesday morning
marking some sort of important bottom."We could have had an interim bottom of some
kind - had an incredibly negative spate with really big volume on the downside," says
Danielle Park, president of Venable Park Investment Council and author of Juggling
Dynamite. "I think the themes we're concerned about today are like the volcanic cloud
over Europe. It'll blow away for a little while and then it'll come back."Ironically, Europe is
the volcanic cloud over the financial markets these days and it "erupted" again
Wednesday afternoon. As The Business Insider reports:
• First, there was a report that Greece is already trying to renegotiate its big bailout
(specifically, that it's trying to get out of promised pension cuts),
• Second there was an FT report that China has put its holdings of Eurozone bonds
under review.
Whether catalyst or excuse, those reports were enough to send the euro tumbling below
$1.22 and just above its recent four-year low vs. the greenback. That, in turn, hit share of
big U.S. multinationals who now face tougher competition from European rivals - as well
as concern about a global slowdown as result of Europe's debt crisis. (For more on why
the euro matters, see: No Escape From Europe's Rubble) Don't Sleep on Hibernating Bear
After being bearish in 2008, Park turned more bullish in February 2009, based on a view
that bearish sentiment - a contarian indicator -- had reached "watershed" levels. But by
mid-summer 2009, she had become cautious again, believing the market had run too far,
too fast, as detailed here."My concern for the past seven months was all the talk about
stocks being justified because of a recovering economy," she says in the accompanying
video. "No, no, no. I think there's a lot really hot trading...we've got speculative forces at
work here."Park's firm manages about $200 million in separate accounts for individuals
and she has some simple advice for investors trying to navigate this increasingly wild and
woolly market: "WE ARE STILL IN A SECULAR BEAR MARKET. WE WILL PROBABLY BE
IN THAT FOR ANOTHER FIVE-TO-SEVEN YEARS," SHE SAYS …
Max Keiser: Big Banks Allocate Losing Trades to Clients, Keep Winning
Trades for Themselves Max Keiser – journalist, former Wall Street
broker and options trader, and inventor of the software which is now
being used for high frequency trading – claims that the big banks
retroactively allocate losing trades to their clients, and keep the
winning trades for their own proprietary trading desks. We Are
Witnessing The Greatest Banking Consolidation In U.S. History As the
number of bank failures in the United States continues to accelerate,
many analysts are warning that we could soon see unprecedented
changes in the U.S. banking industry. Howard Buffett Said “Human
Freedom Rests On Gold Redeemable Money”, Called For Return To
Gold Standard Sometimes the apple does fall very, very far from the
tree. A must read essay by Howard Buffett, father of the “legendary”
investor who initially was so very much against derivatives then
promptly changed his tune, discusses fiat money and gold, and
concludes that “human freedom rests on gold redeemable money.” [ I
don’t know about apples falling from trees but I do believe Buffet’s
senility and embrace of celebrity (has he given away his fortune yet,
fraudulent wall street shill, etc.) do not go well together ]. The
Greek Bailout’s Two Secret Exit Clauses: Why Europe Is Now
Cheering For Its Own Demise When all of Europe rushed into its
rescue package two weeks ago (first half a trillion, market red, then a
full trillion, market green), the one thing that struck us as odd was the
conflicting data on the conditionality of the package, with various
sources both confirming and denying that the “package” was
revocable. Zero Hedge | Markets have been rattled by reports in the
German media that the Greek rescue deal contains two secret clauses,
as well as conflicting data on the conditionality of the package.
Moody’s Reiterates U.S. Spending Risks Credit Rating Bloomberg |
Debt to revenue has more than doubled over the past three years and
is now over 400 percent IMF: Spain must make wide ranging
reforms, weak recovery Reuters | Spain must make far reaching,
comprehensive reforms, including to the labour market, while its
economic recovery remains fragile, The International Monetary Fund
said on Monday.
Click here to see the Debt Clock, which is updated every second.
http://www.albertpeia.com/alresume.htm
Forecasts from Dent, Napier, and then Prechter: Depression is Imminent The Dow Jones
Industrial Average will go down to at least 1000, most likely to below 777 which was
the starting point of its mania back in August 1982, and quite likely drop below 400
at one or more times during the bear market.
10 Reasons to Worry About Margin Growth … a good portion of these factors will likely
impact margins by the end of the year. I don’t believe this is adequately factored into
earnings estimates across the board. Given this, I believe we have seen the highs
for the year and next few quarters will be extremely volatile ...
Dow Theorist Richard Russell: Sell Everything, You Won’t Recognize America By The End
Of The Year Business Insider | “Pul – leeze, get out of stocks now, and I don’t give a
damn whether you have paper losses or paper profits!”
The frauds on wall street et als should be criminally prosecuted, jailed, and disgorgement
imposed. If that were so, they wouldn’t be worrying about who wins / loses since those
who fraudulently play, invariably would (and should) pay. If they’re not prosecuted,
everyone loses.
THE FORECASTS:
Harry Dent, Jr. Economy will be in a Depression by 2011
The worst of this next depression is likely to hit between mid-2010 and mid-2013,
especially around early 2011, but if the banking system continues to implode a deep
downturn or depression could begin sometime in 2009 instead of 2010.
Dow will Fall to 3,800 – 4,500 by 2012
Nasdaq will Fall Below 1,100, its 2002 low, by late 2010 or mid-2012 at the latest.
Inflation will Increase until mid- 2010 and then turn to Deflation
Interest Rates will Increase
U.S. Dollar will Decline
Housing will Decline by 40 – 60% from Today’s Levels
Greatest Economic and Banking Crisis since the 1930s will Occur Between 2010 and 2012
Russell Napier is the author of the book “Anatomy of the Bear”, a professor at the
Edinburgh Business School and a consultant to CLSA Ltd. which is one of the top
research houses in Asia. Napier’s research indicates (and I paraphrase) that: The S&P 500
will Decline to 400 by 2014 (the Dow 30 to 3800)
The S&P 500 will then undergo a major crash that will see U.S. equity prices bottom at
almost 50% below current levels (i.e. to 400 or less; the Dow 30 to 3800 or less) sometime
around 2014 as Tobin’s “q” drops to 0.3 signaling the end of the bear market, as it has
done at the end of the four largest U.S. market declines in 1921, 1932, 1949 and 1982.
U.S. Treasury Sales Collapse Leading to End of U.S. Dollar as Reserve Currency
Robert R. Prechter Jr. is author of a number of newsletters and books including “Elliott
Wave Principle” (1978) in which he predicted the super bull market of the 1980s; “At the
Crest of the Tidal Wave – A Forecast of the Great Bear Market” (1995) in which he
predicted a slow motion economic earthquake, brought about by a great asset mania, that
would register 11 on the financial Richter scale causing a collapse of historic proportions;
and “Conquer the Crash: You can Survive and Prosper in a Deflationary Depression”
(2002) in which he described the economic cataclysm that we are just beginning to
experience and advised how to position one’s self financially during that period of time.
Depression is Imminent
The Dow Jones Industrial Average will go down to at least 1000, most likely to below 777
which was the starting point of its mania back in August 1982, and quite likely drop below
400 at one or more times during the bear market.
http://www.albertpeia.com/alresume.htm
Feds Declare Terror Alert on Texas Border Kurt Nimmo | Another shameless
attempt to scare the American people into accepting the replacement
of what is left of our constitutional republic with a police state. Secret
Clause Reveals Europe Bailout Designed To Destroy Global Economy
Steve Watson | Consolidation of power into fewer hands the real goal.
Tony Blair to earn millions as climate change adviser London Evening
Standard | Tony Blair is set to earn millions of pounds advising an
American businessman on how to make money from tackling climate
change. Christie, jersey gov., Says Mob-Ravaged n.j. ‘Careening
Toward Becoming Greece’ Bloomberg “We’ve got to change the course
of pervasive corruption and mob infestation and control.” More
Blank Checks to the Military Industrial Complex Ron Paul | Congress,
with its insatiable appetite for spending, is set to pass yet another
“supplemental” appropriations bill in the next two weeks.
Afghans: U.S. Created and Funds Taliban Kurt Nimmo | U.S. pays the
Taliban to remain an enemy as fantastic profits from opium fields pour
into Wall Street and CIA coffers.
North Korea Severs Ties With South on Ship Sinking North Korea said it
will sever all ties with South Korea and expel the South’s workers
from a joint industrial zone as “punishment” for accusing it of sinking
a warship and killing 46 South Korean sailors. Nuclear War
Between Koreas: Brought To You By The U.S. Government Kim Jong-
Il has put North Korean troops on combat alert and threatened military
action if the South trespasses in its waters as global stock markets
freak out at the prospect of a war which, if it occurs, can be blamed on
the U.S. government’s history of arming the Stalinist dictator with
nuclear weapons.
http://www.albertpeia.com/alresume.htm
NASA wants mission to bring Martian rocks to Earth (AP) Why? They
already have that and more:
Launch of secret US space ship masks even more secret launch of new
weapon
http://www.albertpeia.com/UFOetryWeNeverWentToTheMoonPNTV.wmv
"What this means is that Neanderthals are not totally extinct. In some of us,
they live on," Paabo … With regard to that extinction thing, I’d say
they’re still working on it (ultimately, decades, extinction, the
distinction, without a difference). Actually, prior to studying the
compelling subject of Biological Anthropology (Michael Park text), I
too had some misconceptions about the group known as Neandertals
(recent spelling drops the ‘h’) and actually mis-referenced same by the
stereotypical image of members of said clade even as the debate
continues as to whether they are within the species homo sapiens or a
separate species. I believe these to be distinctions without important
differences, so humble the origins and evolution of man truly are.
Parenthetically, I wonder what that anthropological scientist Heidi
Klum thinks on the subject.
Neanderthals, Humans Interbred, DNA Proves
Previously I wrote:
FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and
the many like it, are old news and I subscribe to the more studied view
that there is no “missing link” per se and in my view are distinctions
without significant differences. I previously wrote:
To Learn More About From Whence Man Came, This Link's For You
Seeing Aliens Will Likely Take Centuries. Centuries? Not goin’ to happen;
at best, decades.
http://www.albertpeia.com/alresume.htm