Greasy Communist Leader..
It’s Official: USA Economy Heading Down!!!
by Greg Hunter’s USAWatchdog.com
There has been so much bad economic news out, recently, I do not see how anyone with half a frontal lobe could say the economy is not in trouble. Friday, new unemployment figures were announced, and a weak 119,000 jobs were created. The rate fell to 8.1%, but only because more discouraged workers stopped looking for work and disappeared from the government’s data base. In Friday’s report, economist John Williams of Shadowstats.com summed it all up by saying, “The headline U.3 unemployment rate dropped a statistically insignificant notch to 8.1% in April, from 8.2% in March, but the “good” news was anything but good. The declining pace of headline unemployment reflected an accelerating increase in the number of the headline unemployed giving up looking for work, because there were no jobs to be had. . . . The SGS-Alternate Unemployment Measure, accordingly, notched higher in April to 22.3%, from 22.2% in March.” (Click here to go to the free section of Shawowstats.com.) So, unemployment in the real world actually went up—not down. According to outplacement firm Challenger, Gray & Christmas, planned job cuts rose 7.1% in April, and more than 40,000 more workers are going to be laid off. (Click here for more on this story.)
Housing is another sad story. Year-over-year housing prices continue to decline despite record low 30-year mortgage rates below 4%! In the last two years alone, 1 million homeowners who bought houses lost money and are underwater. In January, the Federal Reserve estimated 12 million Americans owed more than their homes were worth. (Click here for more on that story.) Economist Robert Shiller of the Case-Shiller home price index lamented, two weeks ago, “I worry that we might not see a really major turnaround in our lifetimes.”
“April Retail sales are the worst since 2009,” read one headline from last week. “Factory Orders Post Biggest Decline in Three Years,” read another headline from last week, as well. Even the auto sector took a hit as the headline says, “April auto sales cool.” Overall, sales were up a paltry 2%, but GM sales were down a hefty 8% and Ford sales declined 5%. Please keep in mind, if it were not for sub-prime auto loans, sales would fall off a cliff. Add it all up, and it is a miracle that the nation’s gross domestic product (GDP) only slowed down to 2.2% in the first quarter from 3% in the last quarter of 2011. Is there any wonder why Fed Chief Ben Bernanke signaled, two weeks ago, that money printing “tools . . . remained very much on the table,” if the economy faltered. Last week, Charles Evans of the Chicago Fed and Atlanta Fed President Dennis Lockhart echoed Mr. Bernanke’s sentiment on CNBC. Both talked about “expanding the balance sheet” of the Federal Reserve and clearly said there was more room for “accommodation.” Mr. Lockhart said, “I am a bit reticent to pull the trigger on any new action. I think we need to see how the economy evolves.”
Well, it looks like the economy is evolving all right or better said–plunging. Williams says, “A renewed faltering of U.S. economic activity is a fortuitous development for the bank-propping needs of the Federal Reserve. . . . the banking system remains severely stressed, with some form of new easing—a QE-3—likely just a matter of time, and likely sooner rather than later. All Fed actions since the crisis of 2007 and panic of 2008 have been aimed at saving the banking system—not the economy—where the survival and health of banking system is the Fed’s primary function. . . .there is little the Fed can do to stimulate the economy or to contain inflation.” I think it’s official, the economy is heading down. So, expect the Fed to print money to save the banks–again.
American Presidents, Never Done Looting the Taxpayers Until their Funeral Tab is paid!!
Tory Party Thrashed
There is no substantive differences in English political parties as the Crown owns them all, and as such English elections are even more meaningless than USA elections as the crown controls all outcomes. At least in the USA, we have Rothschilds/Soros choice, Obama versus Romney whom for whatever reason the Anglo-Zionist elites dont want, probably simply as they have no sexual dirt on him. Since Romney is from Wall Street we know financial dirt must exist on him in abundance. In California we had Anglo-Zionist Elite Meg Whitman, clearly Queen Elizabeth’s choice, and the lesser Anglo-Zionist devil Jerry Brown and his Yenta, Sweatshop Guess Jeans lawyer wife.
Insider Charlie Munger Calls VAT to Pay for Bankstes/Wars ‘Inevitable’ in USA
Anglo Bank HSBC reports 26 pc EPS in Q1
Gold rigging profits!!
India’s Hospital and Indians Generate Superbugs-Global Black Plauge and Death- Chemotherapy for Cancer may not be possible in 2 years in USA
Well, I’ve always done my part and only taken one dose of antibiotics in the last 30 years and only when I was on the verge of an organ failure from bacterial infection I picked up while working in Africa. The problem is the women of the world dosing their kids and themselves on anti-biotics for every little sniffle and extreme lack of sanitation at hospitals around the world. The English seem to be gloating over all this in this article. Unless you’re a mountain climber and or an extreme whitewater paddler, I don’t know why anyone would visit India. It is simply not worth the risk and you bring that filth back to your country. People getting off the plane from India all need to be tested for super-bugs and sent home or put in quarantine. But Prince Phillip is very excited by this latest development so nothing will be done in the Anglo world.
Canada -Housing Bubble Watch
Commodities Erase 2012 Gains as Economic Outlook May Dim Demand
Commodities fell, erasing this year’s gains, as the struggle by Greek political leaders to form a coalition underscored growing concern that the region’s debt crisis will worsen, dimming prospects for raw-material demand.
The Standard & Poor’s GSCI Spot Index dropped for a fifth straight session, heading for its worst run since August. The measure lost as much as 1.6 percent to 641.8, the lowest since Dec. 29. The gauge, which tracks 24 raw materials, was at 642.8 as of 11:22 a.m. in New York, down 0.3 percent for the year. Silver, gold, cocoa and crude oil led the declines. The last annual slump was in 2008.
Raw materials retreated as Greek political leaders met for a second day in a bid to form a government. New Democracy’s Antonis Samaras failed to forge an agreement following an election that raised questions about the euro membership. Reports showed last week that services and manufacturing output shrank in April in the euro region, and unemployment rose to a 15-year high.
“We’re in a deflationary credit contraction situation globally,” said James Dailey, who manages $215 million at TEAM Financial Asset Management LLC in Harrisburg, Pennsylvania. “The banking systems in China, Australia, and obviously much of Europe are under severe stress, and that’s creating this kind of deflationary contraction that’s starting to unfold. You’re starting to get a smell of panic in the air and shift towards bearishness in commodities broadly.”
Crude oil headed for its longest slump in three months, gold fell below $1,600 an ounce for the first time since January, copper declined the most in almost five weeks, and orange-juice futures tumbled to the lowest price since 2009. Twenty-one of the commodities tracked by the GSCI were lower.
Silver futures for July delivery fell 3 percent to $29.23 an ounce on the Comex, after touching $29.145, the lowest since Jan. 10. Gold futures dropped 2.4 percent to $1,599.70 an ounce, heading for the biggest loss since April 4. Nickel prices on the London Metal Exchange reached the lowest since March 29.
U.K. RICS House-Price Gauge Declines to Six-Month Low
Ha, ha. Die English, Die!!
Gorman Takes Morgan Stanley to the Brink
Looks to be another possible LEH!
KGC -Angloamason Devil Tye Burt to Face Shareholder Wrath
The gold is there and then some at their Mauritanian mine, however the mine build up is a disaster wrt to cost overrun by 1 billion. Burt should be fired. Assets on the books make this worth 20 dollars a share. Could be this is ABX big move to grab the firm. Tye came from ABX. I averaged down in cost. In time this Anglomasonic devil will go. The firm is beyond cheap. I voted against the Redback acquisition not due to the reserves which turned out better than I expected but that they had been sold a bill of goods on the cost of expanding that mining operation, which is why Redback sold out, they did not have the funds to expand quickly. Make or break day for Burts career.
Anglo-Zionist Coca-Cola Delights In Killing Americans With Obesity Related Diseases and Lies About it!
“I do not think in any way, shape or form that such punitive measures will change behaviors,” said Rhona Applebaum, Coca-Cola Co.’s chief scientific and regulatory officer. Anyone deterred by the tax from buying sweetened soda, she said, will replace those calories with something else.
USA Stocks Drop as London Returns
Glad I reversed my position at the end of the day and went highly short. I took some profit out of that short this morning. I will go flat by the end of the day.
U.S. stocks fell, sending the Standard & Poor’s 500 Index to its lowest level in two months, asGreece’s struggle to form a new government intensified concern about a euro exit and deepening of the region’s debt crisis.
McDonald’s Corp. (MCD), the world’s largest restaurant chain, retreated 1.6 percent after April sales trailed analysts’ projections. Electronic Arts Inc. (EA), the second-largest U.S. video-game publisher, declined 7.4 percent after its forecasts fell short of estimates. Fossil Inc. (FOSL), owner of the namesake watch brand, plunged 37 percent after the company reduced its full-year earnings forecast amid weakness in Europe.
The S&P 500 retreated 1.3 percent to 1,352.07 at 10:46 a.m. New York time. The Dow Jones Industrial Average declined 161.21 points, or 1.2 percent, to 12,847.32. The 30-stock gauge slumped for a fifth straight day. Trading in S&P 500 companies was 4.8 percent above the 30-day average at this time of day.
“It’s the unknown in Europe affecting the market,” Hank Smith, chief investment officer at Haverford Trust Co. in Radnor,Pennsylvania, said in a telephone interview. His firm manages about $6.5 billion. “If Greece does exit the euro, will there be contagion? It could have a negative reverberation throughout the globe. Europe needs to start focusing on growth. That doesn’t mean growth of spending. They need austerity.”
American equities joined a global slump as Greek stocks declined to their lowest level in two decades. Greek political leaders meet for a second day to try to form a government after New Democracy’s Antonis Samaras failed to forge an agreement following an election that raised questions about the euro membership.
The attempt to form a government now passes to Alexis Tsipras, the head of Syriza. Tsipras ran on a pledge to overturn Greece’s bailout, helping Syriza emerge as the country’s second- most voted party. He has said he will seek to form a coalition with other parties that favor reversing the 130 billion-euro bailout, the country’s second aid package, which came after Greece carried out the biggest debt restructuring in history.
Greece will probably leave the euro as soon as next month as the government runs out of cash and European institutions fail to lend more to the nation, according to John Taylor of hedge fund FX Concepts LLC.
“This summer I think is very likely,” Taylor, founder and chief executive officer of FX Concepts in New York, said today in an interview on Bloomberg Television’s “Inside Track” with Erik Schatzker. “The Europeans aren’t going to give them the money, the International Monetary Fund’s not going to give them an OK. They will be out of money in June.”
The S&P 500 (SPX) has lost 3.2 percent this month as concern about Europe’s debt crisis intensified and data on the U.S. labor market missed forecasts. The index rallied 29 percent from an October low to a four-year high on April 2 amid better-than- expected earnings.
McDonald’s lost 1.6 percent to $94.02. Sales at stores open at least 13 months rose 3.3 percent worldwide last month, trailing estimates, as sales growth slowed in the U.S. Analysts projected a gain of 4.3 percent, the average of 13 estimates compiled by Consensus Metrix. Sales in the U.S. advanced 3.3 percent. Analysts estimated an increase of 5.2 percent.
Electronic Arts dropped 7.4 percent to $14.01. The publisher of “FIFA” soccer and a “Star Wars” multiplayer online game is grappling with shrinking sales of packaged games and will incur a $40 million charge to cut jobs and terminate licenses in that older business. A new online title from PopCap Games, a company acquired last year for as much as $1.3 billion, won’t be out this quarter, said Michael Pachter, an analyst with Wedbush Securities.
Fossil tumbled 37 percent, the most since 1995, to $78.83. Earnings per share in 2012, excluding the impact of its acquisition of Skagen Designs Ltd, will be as much as $5.33, the watchmaker said. Previously, Fossil had forecast a maximum of $5.50. Analysts projected $5.56, the average of estimates compiled by Bloomberg.
Discovery Communications Inc. (DISCA) retreated 6.1 percent to $50.77. The owner of cable networks such as Animal Planet and TLC reported a 28 percent decline in first-quarter profit after a one-time gain last year on Oprah Winfrey’s network, OWN.
Wynn Resorts Ltd. (WYNN) slid 5 percent to $118.89. The casino company founded by billionaire Steve Wynn reported first-quarter earnings fell 19 percent, missing analysts’ projections on lower winnings in Las Vegas.
Investors should buy utilities because the group tends to do better from May through October, when the S&P 500 averages its worst six-month return of the year, according to Sanford C. Bernstein & Co.
A gauge of utilities has risen at an average annualized pace of 12 percent from May through October since 1970, compared with a gain of 4.5 percent for the S&P 500, according to data compiled by Bernstein. The group was the second-worst performing among 10 S&P 500 industries, falling 1.7 percent this year through yesterday, as investors snapped up financial and technology shares in anticipation of an economic rebound.
“With political risk rising in Europe and U.S. economic indicators showing tepid growth, we believe investors should consider holding high yielding, low beta regulated utilities during the traditionally low return, high volatility months of May through October,” Hugh Wynne, a New York-based analyst with Bernstein, wrote in a note yesterday.
The market’s historical pattern of lower returns from May to October, first noted by the Stock Trader’s Almanac in 1986, spawned the Wall Street axiom “sell in May and go away.”
The pattern typically reverses during the rest of the year. Since 1970, the S&P 500 returned an average 8.1 percent from November through April, while utilities lagged behind with a 4.4 percent increase, according to data from Bernstein.
FED Anglosmason Dudley Urges More Global Gold Rigging
That is Sir Dudley to you. One of his close kin heads BP!
Wall Street Banks Depressed in Shift Defying Blankfein
The masters of Wall Street get a very, very small measure of their due. Which some say is really the hangman’s noose.
“By the end of this year, we are going to have another round of headcount reductions because the revenue I just do not see as sustainable,” Peabody said in an April 19 “Bloomberg Surveillance” radio interview with Tom Keene and Ken Prewitt. “We are going to see a severe economic slowdown in the second half of this year, and maybe a recession in 2013.”
One reason: Investors don’t trust the numbers.
“How do you determine book?” said Matthew McCormick, who helps oversee $6.2 billion at Cincinnati-based Bahl & Gaynor Inc. and doesn’t hold stocks of big Wall Street banks. “That’s the $64,000 question, because the true liabilities can’t be ascertained. You have to make more macro calls. There’s still a lot of risk.”…..