We The Sheeplez- The Coming Economic Collapse.."A Nation Of Sheep Ruled By Wolves" Thomas Jefferson

Ron Paul Appeals To America: "Default Now, Or Suffer A More Expensive Crisis Later"

Default will be painful, but it is all but inevitable for a country as heavily indebted as the U.S. Just as pumping money into the system to combat a recession only ensures an unsustainable economic boom and a future recession worse than the first, so too does continuously raising the debt ceiling only forestall the day of reckoning and ensure that, when it comes, it will be cataclysmic. We have a choice: default now and take our medicine, or put it off as long as possible, when the effects will be much worse.

Guest Post: America: Why Aren't You Protesting

As noted by Richard Heinberg on June 22nd, 2011, the media has lacked the ability to connect the economic situations in the Middle East and their uprisings to what is happening in Europe. I would avoid the word “Revolution” in the case of the Middle Eastern uprisings, seeing as no dramatic systemic changes have taken place, only the ousting of dictators. Same as I would avoid the words of social upheaval in the case of European protests, which have been quite calm and only demanding to maintain the social safety nets produced through years of labor struggle. Rather, the odd occurrence is the ostensibly quiet population of the United States who are in many cases having the same economic problems and austerity based government solutions. This is a place where the media does want to ask the public the question, “Why aren’t you protesting?”

Coming gold mania will dwarf that of '70s, Lassonde tells King World News

Latest In Long Chain Of EOD Levitation Ramps Brings ES To Day's High

Following yesterday's market ramp on the latest European bailout which after some contemplation the world realized was far less definitive than most had expected, in essence being yet another rotation of risk from the PIIGS to the core, today's market action was very listless, although sure enough, courtesy of the abysmal volume which was at monthly lows for both ES and the MVOLNYE. If even yesterday's European TARP was unable to get the buying interest into the market then pretty much nothing will. Oh sure, the market will ramp on news of a debt ceiling deal which will likely come next week, which explains why there a short covering squeeze with seconds to go, but the secular trend of ever declining stock volume means that the Fed will soon need to reevaluate its policy of boosting the stock market as a proxy for the economy as not even the kleptocrats have any desire to rotate worthless fiat into future dividend promises.

8,000 Affected By Power Outages So Far In Tristate Area: Watch The Developing Brownouts In Real Time

As of an hour ago the official temperature in New York hit 102 degrees: an all time recor, topping the previous 101 from 1957. And courtesy of a power grid in dire need of upgrading and repair, the ConEd outages in the TriState area are starting to trickle in. At last check on the interactive map, at least 8000 customers have been hit with power outages so far. The number will almost certainly rise with as the day progresses and as residents return to their sweltering toaster apartments and crank the A/C to the max.

The Oslo "Jihadist Terrorist" Blame Game Begins

The news of today's Norway bombing is still developing and already the Telegraph has started the blame game. The target? Why jihadists of course. And while there may be reason to assume this is the case, the fact that there are absolutely no known confirmed facts at this point allows us to be very grateful for the phenomenon of broad ethnic and racial stereotyping and profiling. Incidentally, according to preliminary reports, the description of the shooter at the Labor Party youth camp is 6 foot tall, and blond: last time we checked Libya didn't have an endogenous Aryan population.

Worst Start To The European Earnings Season In A Decade

The global economy may be collapsing but at least companies are making out like bandits right? Wrong. While America is enjoying yet another above average earnings season when it comes to multinationals (and certainly not financials- those have had an abysmal earnings season), Europe, which has had a very lousy week despite the makeshift triage for the EUR which will last exactly a few months, as confirmed by both yesterday's PMIs and today's German Ifo survey, is on track to experience its worst earnings season in a decade! As Bank of America summarizes, of the 49 companies that have reported so far, 36.7% have beaten and a massive 53.1% have missed. And even more surprising is that the sectors which have outperformed in the US are precisely those that are doing the worst in Europe, specifically discretionary, industrials and staples. But such is life in a relative value fiat world. Surely, Europe's corporations are now lamenting the fact that its idiotic feudal lords will do anything in their power to keep the EUR artificially high for no other reason that to rub their vanity in that special place... ignoring that this experiment in vanity massage is now costing Germany tens if not hundreds of billions in almost guaranteed economic output loss. How long before Europe's corporatocracy screams enough and starts demanding that the USD take its place as the most overvalued currency? Of course since all such complaints will end up in Trichet's inbox, we expect every such lament to be met with the usual broken parrot response: "the euro is a ‘Solid, Strong, Credible Currency."

More Bondi Bullshit | Statement by Carlos Muniz, Deputy Attorney General/Chief of Staff RE the Firing of Fraudclosure Investigators June Clarkson and Theresa Edwards

Posted by: 4closureFraud

Post date: 07/22/2011 - 11:40

Time to put on the boots. The shit is getting thick...

In The News Today

July 22, 2011, at 8:52 am
by Jim Sinclair in the category In The News |

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Jim Sinclair’s Commentary

The Banksters only need to change the law to be clear of their dastardly deeds.

States negotiating immunity for banks over foreclosures By Scot J. Paltrow
NEW YORK | Wed Jul 20, 2011 6:24pm EDT
NEW YORK (Reuters) – State attorneys general are negotiating to give major banks wide immunity over irregularities in handling foreclosures, even as evidence has emerged that banks are continuing to file questionable documents.
A coalition of all 50 states’ attorneys general has been negotiating settlements with five of the biggest U.S. banks that would include payment of up to $25 billion in penalties and commitments to follow new rules. In exchange, the banks would get immunity from civil lawsuits by the states, as well as similar guarantees by the Justice Department and Department of Housing and Urban Development, which have participated in the talks.
State and federal officials declined to say if any form of immunity from criminal prosecution also is under discussion. The banks involved in the talks are Bank of America, Wells Fargo, CitiGroup, JPMorgan Chase and Ally Financial.
REUTERS REPORT PROMPTS LETTER
Reuters reported Monday that major banks and other loan servicers have continued to file questionable documents in foreclosure cases. These include false mortgage assignments, and promissory notes with suspect or missing "endorsements," which prove ownership. The Reuters report also showed continued "robo-signing," in which lenders’ employees or outside contractors churn out reams of documents without fully understanding their content. The report turned up several cases involving individuals who were publicly identified as robo-signers months ago.
Reuters found that such activity has continued even after 14 major mortgage lenders signed settlements with federal bank regulators promising to halt such practices and give remediation to some homeowners who were harmed.
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