Wall Street is run by moral idiots who think they are a world aristocracy!

Wall Street is run by moral idiots who think they are a world aristocracy!

Over the last two years DOW Chemical's net tangible assets have crumbled over 90%. It declined 60% in 2008 and 84% in 2009. This disaster case is today being hyped as a success story by the Wall Street media and GE/MSNBC/Pravda.

Interest on credit default swaps now insuring the Goldman’s debt against potential default widened to about 180 basis points from 167 basis points late Monday, according to data from Phoenix Partners Group. That is about an 8% rise in debt payments for Goldman. Goldman is the only bank that profited from the fraudulent mortgage derivative scheme. However at many of the banks, the idiot-savants who ran the schemes and their (see, hear and speak no evil) unethical monkey management made fortunes at the expense of their clients, shareholders, and their honest lower paid employees. Their thievery burned teachers and elderly across America as well as little fishing villages as far away as Norway. It is time for the US Congress to claw back the money those thieves took and put them in jail if it is not repaid in full. Those managers got paid for failure and for the silence that facilitated the stealing of taxpayer earnings.

Wall Street news firms are now clearly as corrupt as Goldman and obviously the news services are getting kick-backs to hype the truth (to lie) and to deceive shareholders, investors, and the clients of Wall Street. The most incestuous and depraved of all is GE/MSNBC/Pravda where they nightly foam at the mouth about the American Tea Party and sing their loony tunes of their leftist Nazi and Communists friends rising like plague rates in Venezuela, Honduras, Bolivia, and El Salvador. The Greek leftist's thugs riot in the streets and are tearing down any hope that intelligent hard working Greeks can regain control and balance their budget. That is the equality the leftists want. They truly believe they are in better touch with life and that their loony beliefs are worth the poverty it has brought them and the poverty it will bring all Greek people if they do not stop the lunatic left.

Modern bankers like Mr. Blankmind the CEO of Goldman Sucks have become inbred idiots like the European Aristocracy when America won independence from them. Ethics and a conscience have been bred out of them. They are worse than mindless used car salesmen who sell junk to the world. They sell cars without brakes to poor widows and orphans in Norway fishing villages and then take out life insurance on the people using the vehicles they sold. They want all their customers to end up dead because that is how they make their money. Goldman Sucks had inside knowledge that the mortgage derivatives were worthless and bet against them without reporting the problem so that the FED could prevent a total collapse. Their corporate motto is, "There is a sucker born every minute." They gave $1million to the Obama election campaign so don't expect the socialists will harm Goldman in any way. Besides the lunatic left would rather blow up oil rigs.

One thing that unites all Americans is the hope that many WS bankers like Blankenstein must go to jail before America has any confidence in the government, the FED, and the Treasury. Any Republican who opposes the crushing of this Wall Street Frankenstein stinking moral hazard will go the same way as all the American liberty-despising congressional socialists in November 2010.


CAT's trailing PE is now50.97 and its PEG is now infinite. CAT is overpriced by more than a factor of two relative to 2008 before the bubble burst. Yet it was reported to be good news because CAT finally made a small profit after 1.75 years. The stock market is now being held high by pure hype and incompetent advice primarily from Bloomberg, GE/ MSNBC/Pravda, and Jim Cramer of MSNBC's MadMoney.


World Outlook

The lunatic left invented the word sabotage. The early French socialists tried to destroy French industry by throwing their wooden shoes (sabots) into the industrial machinery. Hence the destruction was sabotage caused by socialist saboteurs. The oil rig that was recently blown up that killed five people and is now polluting the Gulf is the obvious work of leftist saboteurs using a small amount of explosives and striking in the night. Al Quaeda is a leftist terrorist group seeking to economically cripple America. Oil rigs are the easiest targets and it works hand in hand with leftist lunatics who want to discredit free enterprise, destroy American liberty, and install socialist government tyranny throughout the world.

People around the world are conserving energy and China is rapidly expanding their coal reserves. Crude oil is at the highest inventory level since September 1990. Last week the oil glut was up by another 3.9 million barrels, or 1.1 percent, to 370.6 million barrels, which is 17.2 percent above year-ago levels when the economy was stalled, the Energy Department’s Energy Information Administration said in its weekly report. Yet the price of gasoline is near $3 per gallon. Oil investments therefore are likely to decline as inventories continue to climb. The explosion of a rig in the Gulf will however drive the costs of drilling oil higher. Of course with oil prices and stocks at a high, Jim Cramer is touting the industry so he can sell them at a high profit. He tells the truth when he says he owns them, but like Goldman Sucks he may be selling out and even shorting oil investments as he recommends them to his listeners. Blankstein of Goldman Sucks told the US Senate yesterday that he sees no conflict in doing that just. That is how Wall Street executive slime profits while everyone else suffers.

Contrary to what Jim Cramer hypes, the Baltic index says world trade is not recovering; it is down 70% and flat. See:
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND


Week's Economic Calendar

The Treasury bill auction held another record breaking amount as nearly 150 billion were auctioned between 3 months to 7-year duration. The overall Bid/cover has been very healthy at 2.9 and even with Chinese sitting out. America is falling deeper into debt at the fastest rate since the last World War against the Nazis and the Japanese imperialists. But the leftists in Greece are rioting and that makes America a safer haven for cash even with Obama socialists running amuck.

Yesterday
Housing 20 city Price Index S&P's David Blitzer warned it is "too early to say that the housing market is recovering." He noted home prices in six metropolitan areas were at their lowest levels in February since they peaked several years ago.

The Conference Board’s confidence index rose to 57.9, exceeding all forecasts of fools surveyed by Bloomberg News and is at the highest level since Lehman Brothers Inc. collapsed in September 2008… according to the Bloomberg bullshit idiot-savant interpretation of the data. Actually confidence is statistically the same as it was three months ago and yes as low as when Wall Street imploded. The measure was at 110 in 2007 almost double what it is today. You don't need to listen to Wall Street bullshit; you can get to make an honest assessment by plugging in the new data at the following site.
http://www.martincapital.com/chart-pgs/Pg_conco.htm

Wednesday, April 28:
FOMC announcement
Crude inventories

Thursday, April 29
Unemployment claims

Friday, April 30:
GDP
Mich. Consumer Sentiment


Market Outlook April 28

The volume corrected NYSE index dropped sharply yesterday as volume surged 30%. Our headline yesterday was "Is today the day an overdue sharp sell-off begins?"

World Markets
Asian markets were down sharply again last night; Shanghai down -0.3%, Hong Kong down -1.5%, India down -1.8%, and Japan down -2.6%.

European markets were down more than 2% yesterday and are again down sharply in the range from -0% to -2.5 % this morning about half way through their day.

Today US pre-market futures appear highly manipulated again and are therefore meaningless disinformation just like the manipulated trade volumes reported so often. We will no longer report data that is so easy to manipulate.

John P. Hussman, Ph.D. this week says:
"As of last week, our most comprehensive measure of market valuation reached a price-to-normalized earnings multiple of 19.1, exceeding the peaks of August 1987 (18.6) and December 1973 (18.3). Outside of the valuations achieved during the late 1990's bubble and the approach to the 2007 market peak, the only other historical observation exceeding the current level of valuation was the extreme of 20.1 reached just prior to the 1929 crash. The corollary to this level of rich valuation is that our projection for 10-year total returns for the S&P 500 is now just 5.3% annually. "

This week by Streetsmart Sy Harding @ http://www.streetsmartpost.com/2010/04/27/the-stench-worsens/
Headline Monday "Are Major Financial Firms Manipulating the U.S. Market?"
Headline Tuesday “The Stench Worsens!”