Wall Street media hype amounts to fraud.

Wall Street media hype amounts to fraud.

People depend on the news media to tell the truth. The media hyped PALM as it hit record highs and until the "in-the-know" sold out and then shorted PALM until it collapsed. The news media is hyping every report this week. We cannot get into every one so lets just focus on one right now. Check the balance sheets not just the latest eked out earnings. See what squeezing out a small paper profit has done to the balance sheet of DOW Chemical. 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 this week being hyped as a success story by the Wall Street media and GE/MSNBC/Pravda.

Kickbacks come in many forms such as advertising ads, commercials, new business, and in some cases insider information. The corporate credit raters are paid by the companies they rate… they get no business if they tell the truth about DOW Chemical. The Wall Street news media advertising drops to zero if they investigate and do not publish and validate the lying frauds being perpetrated every day.

Wall Street news firms are now clearly just as corrupt as Goldman and obviously the news services are getting advertising kick-backs to hype (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 against the American Tea Party and sing their loony tunes of their leftist Nazi and Communists friends rising like plague 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. Corruption and socialism are just the beginning and then government tyranny and the Gulag for anyone who points out the lies. We cannot sustain American Liberty with a corrupt media and a corrupt Wall Street giving socialists $millions to look the other way. Liberty is lost when the Republic is blamed for the corruption and the very groups corrupting the system have the money to buy their way into power. It can happen in America just as it did in Germany when Berlin happened to be the center of world science and culture and the National Socialists democratically took power and change the German constitution so that they could hold power without future democratic elections.

That is how the socialists do it. The scum and corruption of Venezuela democratically elected Chavez (a stupid and inarticulate man). He redistributed wealth to buy the popular vote to change the constitution so that he has a lifetime term and no longer needs to be democratically elected. That is exactly what the socialist Hitler did.


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.

Housing 20 city Price Index showed home prices in six metropolitan areas were at their lowest levels in February since 2003. It was the fifth month of uninterrupted decline but was spun positively by the corrupt Wall Street media.

The Conference Board’s confidence index rose to 57.9 which 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 lies; you can get to make an honest assessment yourself by plugging in the new data at the following site.
http://www.martincapital.com/chart-pgs/Pg_conco.htm

Yesterday

FOMC announcement: The FED signaled again that sustained job gains would be needed before the FED ends free-money commitment to bankers. There is a basic problem with the FED strategy. It was the strategy during the Jimmy Carter administration and it gave high unemployment with high inflation. It resulted in a "discomfort index" which was the sum of inflation plus unemployment.

One way to lower the "discomfort index" is to kick the unemployed off of unemployment so many fall off the unemployment roles. Since the U.S. recession began in December 2007, Congress has extended the duration of weekly unemployment benefits for the jobless three times to what is now 99 weeks. By June, hundreds of thousands of Americans will begin receiving their final government check and in short time it is projected to top 1 million.

Democrats who have supported past extensions have mounting concern over the federal deficit, projected to reach $1.5 trillion this year and exceed $10 trillion when Obamacare goes into effect. That is right, the government Obamacare agency stuffed with leftists union members who never held a real job will cost ten times as much as paying unemployed former workers. “You can’t go on forever,” said Senate Finance Committee Chairman Max Baucus, of Montana, whose panel oversees the benefits program. “I think 99 weeks is sufficient,” he said. “There’s just been no discussion to go beyond that,” said Senator Byron Dorgan, a North Dakota Democrat.

The Energy Information Administration reported that U.S. commercial crude oil inventories rose by 1.9 million barrels from the previous week. U.S. stockpiles, which stand at 357.8 million barrels, are over the upper limit of the average range for this time of year. The Oil glut continues because more tankers are being built to store oil in anticipation of rising prices and profits. Tanker storage takes the oil off the market causing oil prices to rise even faster. It creates the unstable disruptive oil price bubbles we have seen in the past. Both transportation and storage costs are a well-known form of waste completely at odds with just-in-time efficient processes. It is a way for corrupt speculators to get around laws meant to stop robber barons from cornering markets. Congress should tax oil tankers and storage facilities because clearly the bubbles it creates and subsequent economic chaos is too high a price to pay.

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 his shares at a high profit. He tells the truth when he says he owns them, but like Goldman Sucks he may be selling out and then even shorting oil investments right after he recommends them to his listeners. That makes sense to ethically challenged Wall Street thieves.

This is how Blankenstein and Jimmy apparently make fortunes off their reputations for making money. First buy today for my personal trust accounts, pump them tomorrow to my listeners and clients, dump them when they go up to my target level and my clients think I am a genius, and then short the recommendations if my listeners and clients drive the price up too high on my stupid recommendation. Jim Cramer even has a make believe jail sell for corporate executives who know his game and will not play along to profit by back stabbing the suckers who believe in them.
Thursday, April 29
Unemployment claims

Friday, April 30:
GDP
Mich. Consumer Sentiment


Market Outlook April 29
The market down trend is becoming more apparent now and it is Wall Street/Socialist corruption bringing down investor confidence. Corruption by socialism is the problem. The Republicans tend to give Wall Street freedom to make money. The socialists give them the freedom to steal because the socialists destroy liberty by proclaiming that liberty leads to corruption. But socialism is the corrupting institution and corrupt companies like Goldman Sucks contributes to the socialist much more than they ever did before the Democrat Congress forced bankers to loan money to people with no visible means to make mortgage payments.

World Markets
Asian markets were down again last night; Shanghai down -1.1%, Hong Kong down -0.8%, India up 0.7%, and Japan down -0.7%.

European markets are up in the range from 0.2% to 0.59% 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 corrupt. It is even worse than the EPA's global warming data, which if believable would have the world in a state of panic.

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!”