May the green shoots please continue!

As typical of a Thursday morning at 8:30 am, new jobless claims numbers came out and this week they were 584,000 which was worse than last week and worse than analysts' expected.

The interesting part of this is that the media outlets (CBS, NBC, CNBC, MSNBC, ABC, CNN, and probably FoxNews too) continue to try and spin this along with the banks that got government aid.) One can talk about seasonally adjusted numbers and non-seasonally adjusted numbers but the point is that they're adjusted to reflect typical things that go on in certain areas of the nation. So I want to focus in on how the media was saying this is good news.

The number at 584,000 was worse than the 570,000 consensus estimate and worse than the 559,000 shown for last week. We can say oh Dave it's only one week and there is improvement going on. Well the big ticket item to the media was that the 4 week running average dropped to 559,000 as well, and the 4 week average smoothes out week to week fluctuations, BUT with 584,000 being higher than the 4 week average, I want to know how are we getting a green shoot from that? Lat week's jobless claims number was 559,000 and the week before that was in the 520,000 range. So for two straight weeks, the jobless claims numbers have increased. Meanwhile unemployment is high. The higher it gets, the less jobs there are to lose because less people have jobs. These current numbers don't give sign for economic growth, but do give sign for less of an economic contraction. How much of it is because of government spending??

Well about a week into the Cash for Clunkers program (I can't believe they called it clunkers. You trade in a perfectly good car for something with better gas mileage.) My Target Car, rest that baby is peace (ok I didn't want to get personal but I must here), would not qualify because it got more than 18 MPG. But is this a clunker to you?












If that's not a clunker I don't know what is. I was driving THAT car until April 2009 folks! That car would be ineligible not because it didn't drive but because it got better than 18 MPG. Well now the fund they're claiming is exhausted in a week. They're doing everything they can for you to buy your neighbor's car thru the tax code. don't worry you'll be paying for it later on when all these bonds from the record auctions come due, don't worry, it will happen, either thru taxes or deflating the dollar and the cost of our food and energy skyrocket like it's 2008 all over again, while they say there's no inflation because it's not CORE inflation.

This makes me think back to other incentive plans. Oh yeah that's right, it means everyone has a new car and they won't need to buy one and hence it hurts future demand. you watch what happens when this short term blip ends and then NOBODY wants a car. Good luck Government Motors, Chrysler and Ford, etc. I hope Ford never needs taxpayer assistance because this program hurt them and we know it's going to hurt them. Is the government soon going to make everyone buy a new car every 4 years or ban any car that's more than 5 years old from being driven to promote continuous car sales in the new fascist dictatorship we know as the Obamanation?? Oops did I just give those cronies an idea! Hey I'm not writing the laws they are. Don't look at me!!

So we continue to get these lies and spin and though I admit doomsday and the Great Depression II is off the table for now. this government might be setting us up for a day when it is so destructive there will be riots and looting and it will look like a 3rd world nation here as globalization continues. It's only hurting America unfortunately that our government puts in these policies that harm traditional Americans (not the protected rich elite like Goldman Sachs) and help illegal immigrants and foreign workers!

Just ask yourself is the 4 week jobless claims average is below the recent week's jobless claims in the midst of the worst recession in 70 years a good sign?? somehow it must be to CNBC. When Q3 has positive GDP cuz of the government spending and everyone says see we we're right there recession is over, I'll bring you all back to Q2 of 2008 when the economy grew at roughly 3% and George W. Bush said see the economy is just fine. Yeah that was so right on too. As I've felt, this recovery will be lackluster, might dip right back into recession might not, but the robust growth days aren't coming back for awhile and this might in fact just be like Japan. Very lackluster growth for what now 15-20 years, when Japan is growing. That's kind of what I see here with some government manipulated data that will show some quarters to do great because of inventory buildup, etc. I feel Q3 will be a positive quarter for all you folks out there.

The man with the male escort service bashing banks again

Yes we know that is Barney Frank, cuz running a prostitution ring out of your apartment is ok, just deny deny deny like your name is Ben Bernanke or justify it like your name is Hanky Panky and you'll be just fine.

Now Barney Frank, like Obama, wants to say screw contract law. You see this, just like he was tellign the banks, if you won't lend to the future deadbeats, we'll find someone who will, now he says to the banks, if you don't stop foreclosing the deadbeats, we'll make you.

Barney Frank likes legislating from the bench. He wants to authorize the judicial system to take over his power of law writing or determining what is ok and what isn't. Barney Frank needs to go to jail! He'll fit in just fine there being the way he is, I'm very sure he might actually enjoy it in a high security prison. I think Barney Frank should go to an all female high security prison to be tortured!! This man is corrupt, he;s a liar and he has no respect for contract law, just like Obama when he took the Constitution and shredded it by telling secured lends to screw off ad that unsecured creditors are better deserving since it's a union than bankrupted Chrysler, LLC. Oh screw the banks right? Well what if it's me. What if you don't pay me for something you buy and I give you the loan? Should Barney Frank say... oh that guy voted Libertarian, he's for LIBERTY and I'm for.... male escorts services and I'm for the deadbeats getting what they do not deserve. As we know from Savage, Liberalism is a Mental Disorder! Barney Frank has a mental disorder as well. Too bad he's got that damn pension from our tax dollars. It's truly a shame when Congress gets deals the rest of America can't. I think that's fascist in it's own righ to say if you don't stop foreclosures, I'll make legislation that forces you too. Cuz yeah contracts don't matter anymore. I think I should stop paying my student loan... or maybe when I take the mortgage out of my grandmother's estate, maybe I won't pay for it. But no Barney Frank won't come to my aid. I'm a Libertarian (until the Republican Party decides they're not going to be corrupt and be conservatives once again. Yes you too, Chris Christie in NJ. Dream on about getting my vote!)

After getting screwed by TARP has the pressure forced the troubled Tax cheat Tim, to stop cheating Americans more?

This is two in a row!! Though I take the Government Sachs fair value with a grain of salt given those Wharton and Harvard slime balls are mocking us with their $780,000 payouts, now we have American Express who according to reports, paid 107% of the value of their warrants. What??? Also if you thought Government Sachs was such a wonderful firm, the taxpayer made MORE on a percentage basis on American Express. So eat it, Mr. almighty Goldman.

Oh and to think about how I was profiting off being short American Express all last fall. Mmmmm.... then of course I blew it all shorting CRM and AMZN but if this fake government rally can't be sustained, maybe I'll make some of these losses back as I still hold those positions (dumb of me I know, don't remind me), or I'll chicken out and eat it like I may soon have to. This issue isn't about me though, it's about you, the taxpayer and we're all pissed about the TARP bailout. But if this can continue at least going forward, though I still hated TARP and feel firms should fail so new guys can take over, at least the government can justify their corruption to an extent. There's so much more corruption that just TARP. But at least TARP right now is moving in a better direction after the initial mistake by the socialist retard that had to abandon free market principles to save the free market system. Yeah great language there Bush. I might be for business, and dislike wasteful government screwing me over left and right, but not these firms that received money. I'm with the taxpayer on this one!!

The key is what we don't know and that's the terms these guys have on the other bailouts they have with the FDIC. The article in this post does state that Government Sachs has borrowed over $20 billion fro mthe FDIC and AmEx over $5.6 billion. Why is this significant?? Well these two firms both applied to become bank holding companies to get TARP money. They were not part of this beforehand where they could get FDIC money. So essentially from my viewpoint, they might be gutting the FDIC to payback TARP and pay out shitloads of money. It looks nice on the surface and it's beign structured ina way that TARP will look like a good move going forward to save Hanky Panky's ass. But why not tell us more about how they're raping the FDIC and Goldman Sachs especially with their massive payouts as they rob from the investor everyday in the markets thru FLASH trading.

The problem is, when something looks good on the surface like TARP, with our government you need to look further cuz there seems to be a catch to anything that's looks good. Unfortunately we're lead to believe what's going on is good and don't get me wrong, it is good for the TARP program and I'm glad to see they're not skimping there, but what's going on with the other stuff? Especially when it's business as usual at Goldman Sachs and they get to manipulate their VaR.

And why is it that they're endorsing Gary Gensler (former Goldman guy and head of the CFTC) over limitiation to speculation but then say they need to be one of the restricted firms to the rule cuz they provide liquidity? Common grow up!! We all know you don't provide the right liquidity and that you rob other investors thru your algorithms to cheat and steal from us little guys! There should never be an exception to the rule because then the rule is a bogus rule! Plain and simple! If Goldman can do it, everyone should be allowed to. But considering we don't hace access to what Goldman has access too, it should go on to prevent the little guys from being screwed. What happens when everyone realizes the game is rigged against them. We might know it now and still choose to be involved in hopes we're wrong but when the people give up and we all walk away. Talk about massive economic depression?? 1932 will seem like nothing if the government continues to screw the people

Why I love Ron Paul

One of those days I was late out of my day job and I missed this. Listen at 1:45. Right on Ron Paul!! Gotta love the one man in Congress that doesn't play party politics, even though he's registered as a Republican. We need more of them!

Delphi creditors to win the battle over Platinum Equity

Despite the deal being somewhat similar, Judge Robert Drain allowed the DIP financier's to bid over the leftover Delphi assets so they could emerge from bankruptcy.

In essence JP Morgan was bidding with itself so they didn't have to write down the assets as much and could realize any upside potential but I want to focus on the fact that the Marxist Obama who runs Government Motors, was unable to force Judge Robert Drain to give it to Platinum Equity and have the taxpayer essentially bailout a billionaire hedge fund.

Why am I mentioning this as I said I feel the need to blog less. Well it was part of my tea party speech so I MUST give it the update it deserves. I figured no matter what this was going to be rigged that Platinum Equity gets the deal but thankfully Judge Robert Drain did the right thing and said, lets give everyone the right to bid on this.

In the original deal, the DIP financiers were told they had to take 20 cents on the dollar or $900 million for their $4.5 billion in DIP financing and get nothing else. Well now they get the equity stake and are forgiving $3.45 billion in debt (as opposed to giving up $3.6 billion) so in essence this judge gave a more righteous deal to the DIP financier's. Details still loom but the fact is that this is a better deal according to Delphi and the Obama Administration didn't waltz thru and say this is how it's gonna be. Obama is losing his powers fast to destroy America. Cap & Trade is very quiet in the Senate. The Blue Dog RATS along with the CANNOTS are holding back Cuban/Soviet style health care to some extent, we hope. There are some slight signs America already had enough of socialist/Marxist crap after we saw with TARP and the auto companies. We're tired of it damn it!!

The attack Goldman Sachs news of the day

It appears that all the talk about Goldman Sachs will not end, now a few members of government are trying to pretend to be angry about this now that the people are catching onto the fact that the government works for Goldman Sachs!! First we have the puppet, Charles Schumer who loves illegal aliens and says they can break our laws and that's it is unfair if Americans don't pay for their health care and schooling that has dumbed down the educational system here in America. Now all the sudden Schumer is like Hey everyone deserves a fair take when it comes to trading, so he sends this letter to Mary Schapiro (like she gives a crap, she couldn't find Madoff's fraud brokerage unit that made zero stock trades, she's going to look into Government Sachs??)

You can read the Bloomberg story or read the actual letter posted below:

Schumer Letter

Notice how little this weasel Senator from New York pays attention to details. He can't even spell her name right, liek the fucking idiot that he is!!



Then we have to wonder, why does the Federal Reserve give Government Sachs an exception to VaR (Value Added Risk.) This is something Zero Hedge (or as CNBC calls them, Zero Intelligence) reported on the 15th of July and it seems funny that Congress must be reading this blog and say oh wow, lets act like we're working for the people now. So Alan Grayson whose one of the main people behind the Ron Paul bill to Audit the Fed, had something to say to Bernanke and his wasteless breath for say it makes him angry to be the bailout fund for Wall Street. Sure!!! If it makes you so angry, let them fail.

7 27 Goldman Sachs Letter to Bernanke

Please note this letter shows you how in fact Goldman is having it's cake and eating it too. Heads they win, tails you lose!! It's garbage like this going on, that makes 90% of fund managers underperform the market. Oh wait, that's where your pension, 401(k) and IRA is. No wonder it's so hard to keep up when Goldman is rigging the game to benefit themselves while they smear their feces all over our faces and up our nose.

Given that

Since this gets no reader attention though it states how feel about things. I've been debating this weekend why I do it when nobody reads it. It's a waste of my time seriously since many people choose to be ignorant and I can spend my time learning more about the corruption in government and using it for my own purpose. As seen I get no comment and nobody cares what I have to say and hence I don't feel I should be focusing on this blog too much going forward. That isn't to say I;'ll never post in here again. I might. But it just won't be that often. After two months of doing it and no audience, there's no sense in continuing to waste my time telling you folks to truth when you'd rather get butt raped by the Obama Administration and say oh it felt good to have a sore ass!

I have so many thing to focus on and this is going to become one of the lessor ones. If you miss it that much, you know how to reach me, my e-mail is there and we can talk about whatever issue you want to talk about. I'll still be informed, maybe more informed than I have been. I won't give that up at all with this corrupt government and society I live in. I need to know so I can try and hopefully prepare myself for the day this gov't seizes what I own and says it's our now but we'll take care of you. Yeah, ok!!