Celente: Prepare for the Worst!

chumwad84 · Aug 22, 2010

http://www.youtube.com/watch?v=OGGWcpIR9bI

Joeslogic · Aug 23, 2010

A man with short insight who parses his words carefully.

Likable though. And a lot if truth mixed in with a healthy portion of left wing ideology, innuendo and exaggeration.

But I gotta say what I agree with I agree with a great deal.

Iran, Syria that bunch of Persians that BTW have a disdain for Arabs fight wars without accountability by proxy using terror groups.

Give them enough nuclear material they will try to put it to use.

Joeslogic · Aug 25, 2010

Worries about US recovery deepen

By Telis Demos in London

Published: August 24 2010 09:16 | Last updated: August 24 2010 21:41

Tuesday 19.40 BST. Disappointing US economic data is driving a surge in demand for low-yielding assets, with the Japanese yen setting another 15-year high and government bonds at further record low yields.

The Richmond branch of the Federal Reserveâ€™s gauge of manufacturing activity for the USâ€™s mid-Atlantic region fell by nearly a third, and sales of existing homes fell 27.2 per cent in July â€“ to the lowest level for 15 years â€“ well past consensus expectations of a 12 per cent decline...............
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MarketBeat
WSJ.com's inside look at the markets

* Data Points: Europe
* Uh-oh. The ECB Is Buying Bonds Again

* August 23, 2010, 2:01 PM ET

Yes Folks, Hindenburg Omen Tripped Again

By Steven Russolillo

The Hindenburg Omen reared its ugly head late last week, signaling more doom and gloom as stocks plod along amid the dog days of summer.

The Omen, a technical indicator which uses a plethora of data to foreshadow a stock-market crash, was tripped again on Friday, marking the second time since Aug. 12 it has occurred. (It also came close on Thursday, but one of its criteria fell short.)

The latest trigger has prompted the Omenâ€™s creator, Jim Miekka, to exit the market. â€œIâ€™m taking it seriously and Iâ€™m fully out of the market now,â€ Miekka, a blind mathematician, said in a telephone interview from his home in Surry, Maine. â€œI wouldâ€™ve probably stayed in until the beginning of September,â€ depending on how the indicators varied. â€œThat was my basic plan, until the Hindenburg came along.â€........................
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Economy Caught in Depression, Not Recession: Rosenberg

By: Jeff Cox
CNBC.com Staff Writer

Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff economist David Rosenberg said Tuesday.

Writing in his daily briefing to investors, Rosenberg said the Great Depression also had its high points, with a series of positive GDP reports and sharp stock market gains.

But then as now, those signs of recovery were unsustainable and only provided a false sense of stability, said Rosenberg.

Rosenberg calls current economic conditions "a depression, and not just some garden-variety recession," and notes that any good news both during the initial 1929-33 recession and the one that began in 2008 triggered "euphoric response."

"Such is human nature and nobody can be blamed for trying to be optimistic; however, in the money management business, we have a fiduciary responsibility to be as realistic as possible about the outlook for the economy and the market at all times," he said.

The 1929-33 recession saw six quarterly bounces in GDP with an average gain of 8 percent, sending the stock market to a 50 percent rally in early 1930 as investors thought the worst had passed.

"False premise," Rosenberg said. "And guess what? We may well be reliving history here. If you're keeping score, we have recorded four quarterly advances in real GDP, and the average is only 3%."................
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Dow Faces Bouncy Ride to 5,000: Strategist

By: CNBC.com

The Dow Jones Industrial Average will lose about half of its value over the next couple of years as it follows a Nikkei-like pattern of several sharp rallies in an overall decline, according to Charles Nenner, founder and president of Charles Nenner research.

Stocks are currently in a bear-market rally, and looking at charts and past trends, unemployment and leading indicators suggest the Dow will drop to 5,000 in the next two to two-and-a-half years, Nenner told CNBC in an e-mail.

Deflation will arrive, along with a sharp double-dip recession, pushing the Dow lower, although, like the Japanese market, stocks will see several jumps of 30 percent to 40 percent, he said.
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Typical Slow Summer or Something Darker?

By: John Melloy
Executive Producer, Fast Money

Equity trading activity this August is on pace to be the slowest since 1999, according to Bespoke Investment Group. In the first 16 trading days of August, the average daily volume of Standard & Poor's 500 Index [.SPX 1051.87 --- UNCH (0) ] shares has been 818 million shares a day, well below the last two years and almost half the 1.6 billion that changed hands during the same month in 2007.
Thereâ€™s a tendency to write off what happens to the market in August, which is typically slower than most other months, as investors both professional and retail go on vacation. But does the barren trading taking place this month signal something more than just junior traders at the controls?

To be this slow relative to the last three years is one thing, but to be the lightest since 11 years ago is quite a feat given the technological trading advances on the now publicly traded exchanges, as well as the explosion in high frequency trading by hedge funds. Transactional volume on Wall Street has tripled over those 11 years even though the stock market has effectively gone nowhere, according to Alan Newman, author of the CrossCurrents newsletter....................
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Plunge in Home Sales Stokes Economy Fears

By SUDEEP REDDY And NICK TIMIRAOS

U.S. home sales plummeted in July to a level not seen in more than a decade, spurring fears of renewed weakness in housing prices and the broader economy.

Sales of previously owned homes fell 27.2% from June to a seasonally adjusted annual rate of 3.83 million, the National Association of Realtors said Tuesday, the lowest level since the industry group started its tally in 1999.

The expiration of a home-buyer tax credit in the spring was expected to damp buying, though less severely. Economists said the sales dropâ€”together with a corresponding rise in the inventory of unsold homesâ€”meant another decline in housing prices was on the horizon. House prices had stabilized last year after declining since 2006.

High unemployment and meager wage growth already are driving many Americans' reluctance to make major purchases, so a return of falling home equity could further depress confidence and consumer spending.............................
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Dow Industrials Fall to 7-Week Low

Joeslogic · Aug 25, 2010

Hmmm how to blame this on Republicans

They definitely will and you are about to see what I talk about with liberal media spin.

There is the 10% that pay attention to the so called economist experts who are infilterated with the wisdom spin of "we are all to blame" "equal share of the blame goes to both sides" CRAP and believe me they are full of shit. They are a product of our extremely liberal higher education system. Most do not really believe what they say but its politically correct. And they know well the rules of political correctness.

Then there is the rest who only pay attention to what the perky little morning talk show hosts have to say.

The liberal media morning news groups are still talking the economy up.

This will change when Republicans are elected.

Then it will all be the Republicans fault.

And you will see the dumbasses on forums like this repeating the same socialist liberal talking points.

Joeslogic · Aug 25, 2010

Morgan Stanley Says Government Defaults Inevitable

By Matthew Brown - Aug 25, 2010 2:10 PM CT

Investors face defaults on government bonds given the burden of aging populations and the difficulty of increasing tax revenue, according to a Morgan Stanley executive director.

â€œGovernments will impose a loss on some of their stakeholders,â€ Arnaud Mares in the firmâ€™s London office wrote in a research report today. â€œThe question is not whether they will renege on their promises, but rather upon which of their promises they will renege, and what form this default will take.â€ The sovereign-debt crisis is global â€œand it is not over,â€ he wrote.

Rather than miss principal and interest payments, governments may choose a â€œsoftâ€ default in which they pay back debts with devalued currencies resulting from faster inflation or force creditors to take lower returns, Mares said in an interview...........................
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US New Home Sales Sink to Lowest Pace on Record

By: Reuters

New U.S. single-family home sales unexpectedly fell in July to set their slowest pace on record while prices were the lowest in more than 6-1/2 years, government data showed on Wednesday.

The Commerce Department said sales dropped 12.4 percent to a 276,000 unit annual rate, the lowest since the series started in 1963, from a downwardly revised 315,000 units in June.

Analysts polled by Reuters had forecast new home sales unchanged at a 330,000 unit pace last month.

"What we are seeing is the downside of government intervention. It had fanned expectations of a market bottom when in fact, it created a false bottom," said Tom Porcelli, a senior economist at RBC Capital Markets in New York. "We expect home sales to stay at this remarkably low range with remarkably high unemployment. There is also little demand for lending." ......................
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Celente: Prepare for the Worst!

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