FEMA To Mobilize For “Mass Fatality Planning”

by Paul Joseph Watson, InfoWars:

The United States Congress has passed a bill which mandates the Federal Emergency Management Agency (FEMA) to prepare for “mass fatality planning” and funeral homes, cemeteries and mortuaries being “overwhelmed” in the aftermath of a mass terror attack, natural disaster or other crisis.
The bill, H. R. 6566 or the Mass Fatality Planning and Religious Considerations Act, was posted on the govtrack.us website this morning having been approved by the House on September 28.

The legislation amends the Homeland Security Act of 2002 to direct FEMA to “provide guidance and coordination for mass fatality planning, and for other purposes.”

Noting the necessity for emergency preparedness in relation to terror attacks, natural disasters and man-made disasters, the bill instructs FEMA to be sensitive to the fact that Jews and Muslims require bodies to be buried within 48 hours of death.

“Funeral homes, cemeteries, and mortuaries could be overwhelmed should mass fatalities arise from a natural disaster, act of terrorism, or other man-made disaster,” states the legislation.

Read More @ InfoWars.com

Clinton Directed False Flag in Benghazi to Instigate WW III in Middle East

by Susanne Posel, Occupy Corporatism:

US Secretary of State, Hillary Clinton, is trying to buy time after having been questioned about the planned attack and coordinated US-sponsored al-Qaeda use to facilitate the murder of the late US Ambassador J. Christopher Stevens.
Except, there was no US Embassy in Benghazi. There was a “diplomatic office” or CIA-compound which was burned to the ground. The nearest US Embassy to the area is in Tripoli.
Stevens, hardly being a US Ambassador, but rather a gunrunner for the behind the scenes terroristic attacks by the Saudi Arabian nation on the Islamic world. Saudi Arabia adheres to Salafism, an extremist form of Islam that want all other forms of the religion wiped off the map. Stevens was ultimately killed by the same group he had provided guns and other armory for when they were employed by the US to commit the false flag attack on the CIA-compound in Benghazi.
Read More @ OccupyCorporatism.com

Hostilities Between Turkey And Syria Resume As Two Countries Exchange Fire

It seems like it was only yesterday that crude plunged ahead of the first presidential debate as the escalation between Turkey and Syria hit a fever pitch, with Syria supposedly firing shell into Turkey and Turkey relatiating promptly, as it concurrently summoned NATO and demanded an Article 4 redress while passing a bill allowing its military to conduct cross-border operations in Syria, essentially giving itself a carte blanche to invade Syria without declaring outright war. Today, 48 hours later, Turkey may just get the opportunity to execute on this brand new law. Reuters reports that "the Turkish military returned fire after a mortar bomb fired from Syria landed in countryside in southern Turkey, the state-run Anatolian news agency reported the governor of Hatay province as saying on Friday. Turkish artillery bombarded Syrian military targets on Wednesday and Thursday in response to shelling by Syrian forces that killed five Turkish civilians further east along the border." Ignore that the official plotline said that Syria "apologized" for its offense, even as "an online video purporting to be from Jabhat al-Nusra, a jihadist group accused of ties to al-Qaeda, claimed responsibility."

The Strangest Number In Today's Jobs Number

While we already presented the explanation for the dramatic drop in today's unemployment report (almost entirely driven by the surge in part-time jobs for economic reasons, hardly a thing to be proud of as more and more full time jobs, especially those on Wall Street, are a thing of the past, while the transition to a part-time worker society has been documented extensively in the past here), there is another number that is by far the most perplexing in today's NFP dataset: that showing the employment of workers in the 20-24 year age category (both seasonally adjusted and unadjusted). See if you can spot the outlier in the chart below.

What Could Go Right?

A number of macro-issues could "go the right way" in the coming months. However, nothing good can possibly come from artifice, propaganda, misdirection and simulacra "fixes." Something must break through the facade for good things to happen. It's a long shot, but we can always hope. Without truth, there is truly no hope.

SP 500 and NDX Futures Daily Charts

The More Big Brother Clamps Down, The More It Loses Control

Eric De Groot at Eric De Groot - 1 hour ago

George Orwell knew that big brother in its various forms will always try to control the masses. That is, until its lack of understanding of market forces and behavior dynamics of confidence lost, best encapsulated by the phrase flight of capital, inevitable leads to its own demise. As long as HOAs fight the secular bear market trends in real estate, they only invite more conflict. The... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 

 

There's No Politics Like Deep-Dish Chicago-Style Politics

Dave in Denver at The Golden Truth - 3 hours ago

*This is mythically corrupt* (in reference to the rigged unemployment rate) - Friend of Dave in Denver Former General Electric CEO, Jack Welch, referred to today's unemployment report as being the epitome of Chicago-style politics in action: "Unbelievable jobs numbers..these* Chicago* guys will do anything..can’t debate so change numbers." Miraculously, the unemployment rate dropped 30 basis points from last month to 7.8%. Recall that Obama promised in 2008 to get the unemployment rate below 8%. Obviously, we are only discussing theoretical numbers here, as the Government's em... more » 

Bonds Down, Stocks Down, Gold Down, Oil Down, Jobs... Up?

While Europe was ripping higher this morning, commodity prices were slipping quietly lower and Treasury prices higher as the USD was very modestly higher and US equity futures were treading water. The payroll print provided the fuel to pump us up to within a tick of the year's highs in the S&P, smashed the USD weaker, twanged Treasury yields higher and sent Financials and Materials zooming higher. Unable to break those record highs, stocks reversed as Energy (Oil was sliding once again) and Tech (AAPL) led them lower. Within a few hours we had retraced the entire NFP spike in FX and equity markets but Treasury yields kept pushing higher (30Y +14bps on the week). Gold closes green on the week while Oil/Silver/Copper were red as the AUD lost almost 2% against the USD and EUR gained 1%. AAPL tumbled 2%, closing below its 50DMA for its biggest 2-week slide in six months. VIX was jabbed under 14% briefly but ended fractionally lower on the day at 14.4% (-0.2vols). Equities and risk-assets disengaged today and equity's inability to manage a late-day ramp (and AAPL closing at lows) must be a little concerning for the cheerleaders. 

Consumer Credit Soars As Uncle Sam Resumes Handing Out Billions In Student Loans With Reckless Abandon

Following a major miss in July consumer credit which declined by $3.3 billion (since revised to a -$2.5 billion decline), it was only natural that August would be the opposite, and see a rebound over consensus. Sure enough, the August total consumer credit number came in at $2.73 trillion, an increase of $18.1 billion from last month, on expectations of an increase by $7.25 billion. Why did the number rise? Same reason as always: a government-funded pump into non-revolving (i.e., Student and Government motor loan) credit which soared by $14 billion while revolving credit posted a modest $4.2 billion increase unable to even offset the July decline. But in headline scanning algo news, this was the highest jump in post-revision (recall last month the Fed completely redid its consumer credit series data which is now useless for any analysis going back before December 2010). Yet oddly even with this massive pump the stock market has refused to rebound and instead is acting in a very odd fashion and the now traditional green color of stock moves has taken on an odd reddish hue that is unfamiliar to the current generation of traders.

A Taste Of Unleaded Things To Come

In a follow-up to our discussion yesterday - and perhaps a haunting vision of days to come if the tensions that are so rapidly rising in the Middle East actually spill over - is this chart from Bloomberg of the massive spike in California gas prices. How will this impact the California economy? Especially now they can't count on all that Facebook capital gains tax? Think this is only those silly West Coast 'techies' problem? Think again, as news today is discussing the redirection of fuel supplies to the West Coast, which will inevitably mean a rise in broad US fuel costs as the shortage picture equilibrates.
 

Is Bernanke Betting The Ranch On A US Demographic Renaissance

The BOJ pioneered QE in March 2001, with two objectives. The first was to eliminate deflation, which took hold in the mid-1990s; and the second was to shore up Japan’s fragile financial system. Did it work? Yes, for the second objective - the BOJ arguably bought time for banks tied up in NPL disposal; but, unfortunately, QE was not successful in combating deflation. The BOJ’s intended policy transmission mechanism was so-called portfolio rebalancing. Ideally, the buildup in banks’ deposits at the BOJ that earned no return (but carried zero risk) should have prompted banks to seek higher returns (with higher risk) and thus increase their lending. But portfolio rebalancing did not kick in for several reasons; most of which are the same as are occurring in the US currently. More fundamentally, however, Japan's demographics hindered any hopes of a capex-driven recovery - and policy can do little to affect that. While the US faces a less dismal demographic picture, the Japanese experience highlights that other policies (as Bernanke himself admits) are required for any sustained benefit in the real economy.

Goldman Sees Stock Plunge Then Surge

Goldman's equity strategist David Kostin has been very quiet for the past year, having not budged on his 2012 year end S&P target of 1250 since late 2011. Today, he finally released a revised forecast, one that curious still leaves the year end forecast unchanged at a level over 200 points lower in the S&P cash, and thus assuming a ~15% decline. The reason: the same fiscal cliff (which would otherwise deduct 5% in GDP growth) and debt ceiling debate we have warned will get the same market treatment as it did in August of 2011 when the only catalyst was a 15% S&P plunge and a downgrade of the US credit rating. However, one the fiscal situation is fixed, Kostin sees only upside, with a 6 month target of 1450 ("We raise our medium-term fair value estimates for the S&P 500 in response to openended quantitative easing (QE) announced by the Fed."), and a year end S&P target of 1575, calculated by applying a 13.9 multiple to the firm's EPS forecast of 114. Of course, this being bizarro Goldman Sachs it means expect a continued surge into year end, then prolonged fizzle into the new year. Why? Because there is not a snowball's chance in hell the consolidated S&P earnings can grow at this rate, especially not if the Fiscal Cliff compromise is one that does take away more than 1% of GDP thus offsetting all the "benefit" from QE. Simply said, companies who have already eliminated all the fat, and most of the muscle, and are desperate for revenue growth to generate incremental EPS increase, have not invested in CapEx at nearly the rate needed to maintain revenue growth, having dumped all the cash instead in such short-sighted initiatives as dividends and buybacks. Also, recalling that revenues are now outright declining on a year over year basis, and one can see why anyone assuming a 14% increase in earnings in one year, is merely doing all they can to make the work of their flow desk easier.

In The News Today

October 5, 2012, at 2:42 pm
by Jim Sinclair

Jim Sinclair’s Commentary

The employment number is phony and this is why. This is why I so recommend that you subscribe to John William’s service. He will guide you and be one of the first to realize it when things change.
- Phony Unemployment Rate Drop?  Here Is How It May Have Happened
- With Deliberately-Inconsistent Numbers, Only the BLS Can Clear-Up the Reporting
- September Unemployment: 7.8% (U.3), 14.7% (U.6), 22.8% (ShadowStats.com)
- September Payroll Gain Was Statistically Insignificant
- M3 Annual Growth Notches Higher Again


COMMENTARY NUMBER 473
September Employment and Unemployment, August Construction Spending, PCE Deflator October 5, 2012
Phony Unemployment Rate Drop?  Here Is How It May Have Happened
With Deliberately-Inconsistent Numbers, Only the BLS Can Clear-Up the Reporting
September Unemployment: 7.8% (U.3), 14.7% (U.6), 22.8% (ShadowStats.com)
September Payroll Gain Was Statistically Insignificant
M3 Annual Growth Notches Higher Again

PLEASE NOTE: The next regular Commentary is scheduled for Friday, October 12th, covering September PPI and the August trade balance.
The Special Commentary reviewing economic, inflation and systemic conditions is planned for next week, the week of October 8th.  As publication nears, more-specific timing will be posted in the schedule box on www.shadowstats.com.
Best wishes to all — John Williams

Opening Comments and Executive Summary.  The August-to-September change in the headline unemployment rate almost certainly was not a 0.3% decline.  The Bureau of Labor Statistics (BLS) knows the reported change in unemployment was wrong—other than by extreme coincidence—and it knows what consistent reporting actually showed.  Only politics prevents the BLS from releasing the correct number, whether the unemployment rate actually declined, held even, or rose as predicted by consensus forecasters.  The lack of transparency here in the data preparation allows for direct political manipulation.
The problem is that the BLS knowingly has been preparing the seasonally-adjusted headline unemployment numbers on an inconsistent and non-comparable basis for some time.  The September number was prepared using a different set of seasonal factors than was used in coming up with the August number.  The reporting difference can be large, when proper consistent month-to-month changes are used.
For example, consider the 0.4-percentage-point decline in the headline unemployment rate for November 2011.  That drop in unemployment of that magnitude never was real.  Once per year—with the release of December data—the seasonally-adjusted monthly unemployment rates are revised and restated, so as to be consistent.  In December 2011, that 0.4-percentage-point drop in November was revised to a 0.2-percentage-point decline.  As noted in the text excerpt following, this circumstance allows for outright manipulation of the data, with no cross-checking possible of the unpublished numbers being revised and re-revised every month.  The December 2012 restatement of today’s headline unemployment decline will not be published until January 2013, well after the presidential election.
Indeed, with the Fed’s QE3 formally tied to bringing down the unemployment rate, and with presidential election one month from tomorrow, an unexpected and unusually-large 0.3-percentage-point plunge in the headline unemployment rate might raise more than a couple of eyebrows.  The BLS has the correct number and could publish it.  It had to calculate a consistent August 2012 number in order to estimate September 2012.  Now would be a particularly good time for the BLS to come clean on its unemployment estimates, even if the numbers “confuse” data users.  Avoiding such confusion is the stated reason as to why the BLS does not publish comparable monthly headline unemployment rates.
More….



Jim Sinclair’s Commentary

Total absolute fabrication made to aid political interests.

US unemployment rate falls in September 5 October 2012 Last updated at 12:39 ET
The US unemployment rate fell last month to its lowest rate since January 2009, figures from the Department of Labor have shown, surprising analysts who had been expecting a small rise.
Last month’s rate came in at 7.8%, down from 8.1% in August.
The latest numbers also showed that the US economy added a further 114,000 jobs in September, beating expectations.
The presidential candidates sparred over the data, which is seen as a key issue for November’s elections.
Speaking at a campaign event in the state of Virginia, President Barack Obama said: "Today, I believe that as a nation we are moving forward again."
Falling unemployment means "this country has come too far to turn back now", he added.
But Republican presidential nominee Mitt Romney said that an unemployment rate of 7.8% "is not what a real recovery looks like".
When joblessness was last this low, President Barack Obama was about to take office.
The figures are a boost for Mr Obama whose performance was widely panned in a presidential debate with Mr Romney in Denver on Wednesday.
‘Mixed picture’
More…




Madrid Spain On The Brink – Democracy Hijacked By Bankers




Jim Sinclair’s Commentary

Those of you that have fallen for the fabricated employment figure know it cannot and will not be sustained.

Brace for worst earnings since recession rebound
S&P 500 firms slated to report earnings drop; low-balling is typical By Wallace Witkowski, MarketWatch
Oct. 5, 2012, 11:13 a.m. EDT
SAN FRANCISCO (MarketWatch) — This earnings season threatens to be one of the roughest since U.S. companies started to pull themselves out of the Great Recession — even if, as usual, results don’t live up to the worst of the gloom-and-doom forecasts.
Revenue streams are drying up as China’s growth slows and Europe reels from crisis to crisis. Companies are finding fewer places to cut costs. It’s looking so bad, in fact, that results won’t have to be that great to inject a burst of optimism into the market. Quarterly earnings season kicks off next week with reports from Alcoa Inc. AA +0.11%  and J.P. Morgan Chase & Co. JPM +0.00% 
On the whole, profits for the S&P 500 SPX +0.36%  in the three months ended in September are forecast to drop 2.6% from the year-ago quarter, according to a FactSet analyst survey. If results match expectations, the quarter will break a streak of 11 straight quarterly gains that reaches back to late 2009, as Corporate America was clawing its way out of a financial crisis and severe recession that ended in June of that year.
Wall Street is likely responding to downbeat cues from companies, who have collectively given one of the most negative earnings outlooks in several years.
Eighty out of the 103 S&P 500 companies that have given earnings guidance, or 78%, have issued a third-quarter forecast that falls below the Wall Street consensus estimate. That’s the highest negative-outlook rate since FactSet started tracking the data in 2006.
More…

 

Jim’s Mailbox

October 5, 2012, at 2:35 pm
by Jim Sinclair

The More Big Brother Clamps Down, The More It Loses Control CIGA Eric
George Orwell knew that big brother in its various forms will always try to control the masses. That is, until its lack of understand of market forces and behavior dynamics of confidence lost, best encapsulated by the phrase flight of capital, inevitable leads to its own demise.  As long as HOAs fight the secular bear market trends in real estate, they only invite more conflict.  The escalation of conflict and uncertainty will force people and capital to flee, thus, leaving big brother with a bigger problem of shrinking populations.  Ghost towns are bad for property values too.
Who’s really in control here?
Headline:  Homeowners associations clamp down on rentals
9:19PM EST October 4. 2012 – Neighborhoods across the country are hiding the welcome mat from renters in a bid to protect property values, a trend that has put a strain on renters and homeowners alike.
Some homeowners complain local laws and neighborhood association covenants are becoming too restrictive on renting in an economy that already makes it tough to sell a home.
"It’s really bad here in Florida, and I’ve talked to a lot of property managers all across the country," says Jayci Grana, president of the National Association of Residential Property Managers. "Some areas have more associations than others, but for those that do, they’re just tightening down ridiculously hard on tenants."
Source:    usatoday.com
More…



The Trends Clearly Show The Worm Has Turned In The Labor Market CIGA Eric
For anyone not completely incapacitated by election year rhetoric and/or politics, please consider the following:
2010-2012 economic recovery has produced far fewer jobs than 2004-2006 (chart 1).  The 2003-2007 economic recovery was considered extremely weak.
The US driven by generations of excessive spending, ever-increasing socialism, and uncompetitive international taxation has slowly transformed its economy and labor force from the manufacturing to service hub of the world.  Service-producing jobs as a percentage of nonfarm payrolls have increased from 60% to 86% since 1953 (chart 2).  American have come to know this economy as swapping Made in the USA for Designed in the USA label and a steady decay in real hourly earnings and standard of livings for generations.
No matter how the statiticians jigger the labor numbers to hide the trends, the worm has turned in the labor market.  The jobs creation histogram which studies both job creation/(destruction) and labor force participation peaked in early 2012 (chart 3).

Chart 1:  Birth/Death Model (BDM) Contribution to Nonfarm Net Payrolls (NFP) Added/(Lost)
Chart 2:  Good-Producing (GP), Manufacturing (MFG), and Service-Producing (SP) Sector As % of Nonfarm Payrolls (NFP)
Chart 3:  Job Creation Histogram (JCH):  Net Nonfarm Payrolls Added/(Lost) less Civilian Labor Force Added/(Lost), 12 Month Average.


Headline:  US jobless rate falls to 7.8 pct., 44-month low
WASHINGTON (AP) — The U.S. unemployment rate fell to 7.8 percent last month, dropping below 8 percent for the first time in nearly four years. The rate declined because more people found work, a trend that could have an impact on undecided voters in the final month before the presidential election.
The Labor Department said Friday that employers added 114,000 jobs in September. The economy also created 86,000 more jobs in July and August than first estimated. Wages rose in September and more people started looking for work.
The revisions show employers added 146,000 jobs per month from July through September, up from 67,000 in the previous three months. The unemployment rate fell from 8.1 percent in August, matching its level in January 2009 when President Barack Obama took office.
The decline could help Obama, who is coming off a disappointing debate performance against GOP challenger Mitt Romney.
Source:  finance.yahoo.com
More…




Jim,
THE TIMES, THEY ARE A-PAINFUL. (Reminiscent of Bob Dylan’s tune).
You can’t blame the people for continuing to pull their money out of stocks. Despite record highs, the retail customers are still withdrawing their money for the equity market.
When poor economic numbers are released (durable goods -13.2%, GDP revised down from 1.7 to 1.3,  pending home sales -2.6%, Chicago PMI form 52.9 to 49.7, etc) and the market roars higher, people get confused.  Is the Fed intervening (to convince people they are well off and spend more)? If so, all your knowledge and education on economics and markets used for decision making can be tossed out the window.
When the profligate spending habits of Congress continues, unabashed, and our deficits soar every month why do bonds rally? Is it the Fed intervening (buying debt to save the Treasury)?
If so, all your knowledge and education on economics and markets used for decision making can be tossed out the window.
When subprime mortgages are rallying tremendously (in spite of the lack of security standing behind them) then what are people to think, except be confused? Aren’t these the items that caused our 2007 economic crash and are heralded as being worthless?  Is the Fed intervening (buying MBS to bail out bankrupt bank holdings of these instruments and avoid a derivative collapse)? If so, all your knowledge and education on economics and markets used for decision making can be tossed out the window.
Can’t blame people for being gun shy. However, one market that can’t be so easily controlled anymore is, you guessed it, GOLD. If the price inexorably drops a bit, then the BRIC nations step in and buy. Why? Because they see the manipulation and lies coming out of Wall Street and Washington DC. They know, excess spending and poor economic conditions can only lead to dollar debasement, and hence a flight to hard assets such as GOLD.
Soon, the public will realize this and place their cash holdings into the only asset left that one can reasonably make sound judgments on.
CIGA Wolfgang Rech

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