Market forces April 30
While the market appears oversold, the Parabolic SAR and the MACD indicators could turn bullish in less than two weeks. Yes the market volume has been extremely low but it is low in recent declines as well as rallies. Market participation has been low and consequently the market has been easily manipulated.
Obviously President Bush did not have a clue when he first declared victory in Iraq and that misinformation was the beginning of the end for Bush. It showed that Bush misinformed about the severity of the threat of Hussein just as the MSNBC declaration of economic recovery now shows that Obama misinformed about the economic threat so that he and Senator Dodd could precipitate bank failures and thus Obama could get elected. McCain was taking the lead just before Dodd leaked the names of weak banks and Geihtner let Lehman fail.
It is a situation similar to when President Bush declared victory after a few weeks in Iraq. MSNBC/GE declared victory over a "Great Depression" in the first 70 days of President Obama. It is a contradiction of terms that says either MSNBC/GE is misinforming now or President Obama's campaign and administration have been misinforming all along just to frighten and spend America into a socialist state subjecting America to hyperinflation down the road.
Obama, the unions and other socialist ousted Ken Lewis as Chairman of Bank of America. Ken Lewis had the courage to expose the coercion being used by the Obama administration and has been punished severely with potential BOA witch-hunts to follow.
GM is now controlled 40% by the GM union and 50% by the Obama administration and the investors who put up 40% of the GM capital only got 10% control. The FED put up the remaining capital
It has been reported that talks between Chrysler and its bondholders broke down overnight and a bankruptcy filing for the automaker is now all but certain. Bankruptcy puts bondholders ahead of unions and FED socialists.
Obama now claims the new deficits and the new bubble he is creating belong to the Bush administration as well. FED Treasury trading is down, with volume done through the primary dealers averaging $363.6 billion a day this year, compared with $655.6 billion in the same period of 2008 according to Fed data. Trading must be higher to finance the Obama deficits or else interest rates will rise uncontrollably in the future.
Russian President Putin recently posthumously honored Iowa born American communist George Koval for giving the Soviet Union the secret that allowed then to trigger their first atomic bomb. During the FDR administration communism as well as socialism was extremely popular in America and the socialist regularly celebrated with May Day parades as the Communist dictatorships love to do. Yet the socialist FDR administration allowed Koval access to America's highest secrets. FDR also agreed to allow Stalin to take half of Poland and forced Germans out of part of East Germany so that the displaced Polish people could be relocated.
Market Outlook
MSNBC, a subsidiary of GE, continues to misinform and distort the news. The decline in the American gross domestic product was the same in the first quarter of 2009 as it was in the last quarter of 2008, 1.5% per quarter or a rate of 6% per year. The rate of decline is the same, not improved or slowing. Meanwhile housing prices continue to drop at 24% per year or 2% each month and continue to perpetuate the mortgage crisis.
MSNBC, a subsidiary of GE, continues to misinform and distort the news about market highs and lows. It said yesterday that the market made a new high. The last DOW high was 9035 on Jan 2 and was 8186 yesterday. So MSNBC misinformed because yesterday did not signal a bull market. The Dow needs to go up another 849 points (9.4%) today for it to signal a bull market. The new high must be higher to signal the market bottomed.
Similarly the last S&P high was 935 on Jan 6 and was 874 yesterday. The S&P needs to go up another 61 points (7%) today for it to signal a bull market. But by lying they end up with MSNBC and Obama setting America up for an immanent stock market decline. After a 70% decline a 30% rally still leaves a market with a 61% decline.
Overall, market price/volume behavior continues to be discouraging. The market has a variety of overbought indications such 80% of stocks over their 50-day average, where prior bull market rallies have tended to fail. And there is also the over extended McClellan oscillator index and low volume to be concerned with.
Stocks have failed so far to recruit much in the way of strong participation other than junk indicating little desire to take on additional market risk by serious investors. There is also little, merit on the basis of valuations even if profit margins recover in the years ahead. The argument that stocks are “once in a lifetime bargains” ignores the fact that former overvalued levels with record profit margins cannot be repeated with a regulated and deleveraged union dominated socialist economy.
It took until the end of WWII for the American economy to recover to the early 1929 economic levels. FDR's socialist policies did not work, they made the economy worse until FDR abandoned socialism and turned capitalism loose to fight the war. The 300% FDR recovery following the 90% loss still left FDR with a 60% net loss relative to 1929 not a 300% gain as socialists/communists/MSNBC/GE like to report relative to the FDR administration's lowest level. Americans just need to look at their 401 levels to understand the nonsense of MSNBC/GE/Pravda that Obama is the messiah.
Asian shares were up last night with Shanghai (China) up 0.4%, India closed, Japan up 3.9% after being closed yesterday and Hong Kong up 3.8%.
European markets are currently up in the range of 1.6% to 2.3%, mid way through their day today.
US futures indicate the DOW will start the day up over 100 points. When deception is exposed then enthusiasm turns to disillusion and complete withdrawal. The downturn could then set a new low.
Thursday, April 30, 2009
Wednesday, April 29, 2009
Desperation in the spin zone
The administration is currently more worried now about the stock market than the swine flue. Why can’t it get priorities right? Before... it didn’t worry about the market because it did not know that working Americans had 401 plans invested in the market. Now MSNBC (Obama’s Pravda) tells us it all makes sense that junk stocks advance while good stocks take a hit. They say the facts and basics don’t matter... it is all market psychology now because now people believe the economy is getting better so the junk stocks look like they can survive. As evidence MSNBC incorrectly says the housing market has stabilized!!
In a sense Jim Cramer is right; housing is in a stable nose dive right now. While MSNBC points to the fact that the year to year decline in housing prices is the same this month as it was last month the MSNBC wizards don’t realize that is because they are dropping at the same 24% per year rate (2% per month) now as they were last year.
That is right, even Jim Cramer apparently wants Americans to think housing prices have stabilized when in fact the housing prices are falling at 2% per month. That is how (through the spread of ignorance) Pravda (MSNBC, a General Electric subsidiary) creates lies (spin) to curry administration favor and lucrative global warming related contracts. In the MSNBC spin zone they don’t care if the spending is for the stimulation of socialism and the undermining of capitalism so long as the father corporation gets a big piece of the action.
Wall Street has its own scam going on now lead by MSNBC. Little known junk stocks are being bought up in old fashioned short seller sucker rallies to lure in people who “know the stocks are worthless.” They draw in wave after wave of short sellers who do not realize that there a big con artists out there willing and able to buy up all the small company’s stock and then make it almost impossible for the short sellers to buy back the stock except at much higher prices. The high prices then attract even more short sellers the longer the scam goes on.
MSNBC is not in the news business it is in the scam business and the spin business and today may be the day they start throwing dirt on the coffin of Bank of America. Bank of America was the classic Harvard Business Case that MBA students recently studied on how to run a good bank. Now Obama, MSNBC, government employee unions, and Democrat state treasurers have united to run BOA into to ground by:
1) first the FED forcing BOA to take Tarp funds, then
2) forcing BOA to buy Merrill Lynch, then
3) attacking BOA management for revealing they were coerced by the administration, then
4) threatening prosecution of BOA management for violating government SEC disclosure rules by allowing themselves to be coerced by the Obama administration in the first place, and
5) spreading rumors that the Obama administration stress test says BOA is undercapitalized and as weak as the CITI disaster case, and finally
6) using state taxpayer funds and union pension funds today to try to vote out the BOA management that made BOA an American Harvard Business Case success story.
Market forces April 29
The deflationary forces are currently at their greatest rate of worsening but the steepness of decline is no longer getting steeper. The GDP deflation rate is expected to peak at -2.8% in November 2009. Currently housing prices are falling at a stable 24% per year independent of the rate of decline in American production. Barack Obama “malaise” expands the arrogant usurpation of American liberties by big government using junk science, junk stocks, and junk socialist economic policies. Beware, we were in a recession no worse than 1982 but this administration has an FDR type plan just like the one that created FDR’s Great Depression. An “Obama Great Depression” could leave the stock market down 90% like the last one. We are not even half way down yet. Obama can still wipe out our insurance industry and pensions just as FDR did.
Market Outlook
The equities market is highly oversold and junk stocks have become the big movers as investment con artists and MSNBC spin junk economics, junk science, and junk stocks. The recent advance has had no breadth and junk stock leadership. The stimulation package is only stimulating big government spending, big government hiring, and community activist con artists out there claiming they are helping people with high debt difficulties.
Unfortunately big government:
Likes to usurp power and dictate to people and business
Likes to regulate individual lives
Becomes an arrogant bully and wants unions and binding arbitration for itself for power
Is extremely difficult to stop once it takes root.
Defines love of country and healthy values as hate and politically incorrect
Big government is an invasive species that destroys all healthy growth, ethics, and societal values.
Asian shares were up last night with Shanghai (China) up 2.8%, India up 3.7%, Japan market closed and Hong Kong up 2.7%.
European markets are currently up in the range of 0.8% to 1.3%, mid way through their day today.
US futures indicate the American markets will start the day up slightly.
In a sense Jim Cramer is right; housing is in a stable nose dive right now. While MSNBC points to the fact that the year to year decline in housing prices is the same this month as it was last month the MSNBC wizards don’t realize that is because they are dropping at the same 24% per year rate (2% per month) now as they were last year.
That is right, even Jim Cramer apparently wants Americans to think housing prices have stabilized when in fact the housing prices are falling at 2% per month. That is how (through the spread of ignorance) Pravda (MSNBC, a General Electric subsidiary) creates lies (spin) to curry administration favor and lucrative global warming related contracts. In the MSNBC spin zone they don’t care if the spending is for the stimulation of socialism and the undermining of capitalism so long as the father corporation gets a big piece of the action.
Wall Street has its own scam going on now lead by MSNBC. Little known junk stocks are being bought up in old fashioned short seller sucker rallies to lure in people who “know the stocks are worthless.” They draw in wave after wave of short sellers who do not realize that there a big con artists out there willing and able to buy up all the small company’s stock and then make it almost impossible for the short sellers to buy back the stock except at much higher prices. The high prices then attract even more short sellers the longer the scam goes on.
MSNBC is not in the news business it is in the scam business and the spin business and today may be the day they start throwing dirt on the coffin of Bank of America. Bank of America was the classic Harvard Business Case that MBA students recently studied on how to run a good bank. Now Obama, MSNBC, government employee unions, and Democrat state treasurers have united to run BOA into to ground by:
1) first the FED forcing BOA to take Tarp funds, then
2) forcing BOA to buy Merrill Lynch, then
3) attacking BOA management for revealing they were coerced by the administration, then
4) threatening prosecution of BOA management for violating government SEC disclosure rules by allowing themselves to be coerced by the Obama administration in the first place, and
5) spreading rumors that the Obama administration stress test says BOA is undercapitalized and as weak as the CITI disaster case, and finally
6) using state taxpayer funds and union pension funds today to try to vote out the BOA management that made BOA an American Harvard Business Case success story.
Market forces April 29
The deflationary forces are currently at their greatest rate of worsening but the steepness of decline is no longer getting steeper. The GDP deflation rate is expected to peak at -2.8% in November 2009. Currently housing prices are falling at a stable 24% per year independent of the rate of decline in American production. Barack Obama “malaise” expands the arrogant usurpation of American liberties by big government using junk science, junk stocks, and junk socialist economic policies. Beware, we were in a recession no worse than 1982 but this administration has an FDR type plan just like the one that created FDR’s Great Depression. An “Obama Great Depression” could leave the stock market down 90% like the last one. We are not even half way down yet. Obama can still wipe out our insurance industry and pensions just as FDR did.
Market Outlook
The equities market is highly oversold and junk stocks have become the big movers as investment con artists and MSNBC spin junk economics, junk science, and junk stocks. The recent advance has had no breadth and junk stock leadership. The stimulation package is only stimulating big government spending, big government hiring, and community activist con artists out there claiming they are helping people with high debt difficulties.
Unfortunately big government:
Likes to usurp power and dictate to people and business
Likes to regulate individual lives
Becomes an arrogant bully and wants unions and binding arbitration for itself for power
Is extremely difficult to stop once it takes root.
Defines love of country and healthy values as hate and politically incorrect
Big government is an invasive species that destroys all healthy growth, ethics, and societal values.
Asian shares were up last night with Shanghai (China) up 2.8%, India up 3.7%, Japan market closed and Hong Kong up 2.7%.
European markets are currently up in the range of 0.8% to 1.3%, mid way through their day today.
US futures indicate the American markets will start the day up slightly.
Tuesday, April 28, 2009
The rally in junk stock is subsiding.
We have had a rally in every kind of ACORN con artist styled activity. All the “Nigerian” bank transfer cons have spread and they are using East European names as well.
In the USA the most popular is the “Your Warrantee is expiring,” scam. People who take warrantees are known to be vulnerable because bright people demand products that work not products that have warranties for their expected failure.
People in the USA with mortgage and other debt problems are being targeted by community con leaders. First they are told there is no charge unless the government can help. Then they are told, “Yes, the con artist can help, just send $1000 to start the action.” Then they never see their money again.
Wall Street has its own scam going on now. Little known junk stocks are being bought up in old fashioned short seller sucker rallies to lure in people who “know the stocks are worthless.” They draw in wave after wave of short sellers who do not realize that there a big con artists out there willing and able to buy up all the small company’s stock and then make it almost impossible for the short sellers to buy back the stock except at much higher prices. The high prices then attract even more short sellers the longer the scam goes on. Soon the con artists will be able to unload their holdings at high multiples. Then when the prices fall back they will start the scam again. This seems to be the prime way the shorts are being milked at this moment and the only thing this rally has going on that is profitable.
Market forces April 28
The deflationary forces are currently at their greatest rate of worsening but the steepness of decline is no longer getting steeper. The deflation rate is expected to peak at -2.8% in November 2009 from the current April annual deflation rate of -0.9% according to the Financial Forecast Center. They expect inflation to rear its ugly head by early 2010.
This recent equities market closely resembles 1970 to 1974 and bares little resemblance to 1929. There was also a short severe contraction that occurred in 1978 that does not show up in plots that use monthly averages. The 1978 contraction caught many people who became over exuberant and were buying heavily on margin. The market continued to rise 1976-1980 under the Jimmy Carter administration but inflation and unemployment (stagflation) caused Carter to lose to Ronald Regan in 1980. Ronald Regan had an economic contraction that ended stagflation and he cut the Carter taxes and then stimulated the longest continuous period of growth in American history. It ended what was then expected to be the Japanese overtaking of the USA.
Barack Obama looks like he will be another Jimmy Carter expanding the arrogant usurpation of American liberties by big government. The Carter government was predicting the world would run out of oil in 20 years and the world population would triple. The Obama administration is predicting uncontrollable global warming and China overtaking the USA.
Market Outlook
The equities market is highly oversold and junk stocks have become the big movers as investment con artists try to lure in unwary short sellers. The recent advance has had no breadth and no consistent leadership. The stimulation package seems to be stimulating big government spending, big government hiring, and community activist con artists out there claiming they are helping people with high debt difficulties.
Unfortunately big government:
Likes to usurp power and dictate to people and business
Likes to regulate individual lives
Becomes arrogant bully and wants unions and binding arbitration for itself for power
Is extremely difficult to stop once it takes root.
Defines love of healthy values as hate and politically incorrect
Big government is an invasive species that destroys all healthy growth, ethics, and societal values.
Asian shares were down last night with Shanghai (China) down -1.9%, India down -3.3%, Japan down -2.7% and Hong Kong down -1.9%.
European markets are currently down in the range of -2.2% to -2.7%, mid way through their day today.
US futures indicate the American markets will start the day down again. The Dow Jones Industrial Average futures were down 113 points, or 1.4%, while the S&P 500 futures were down 15 points and the Nasdaq 100 futures were down 19 points.
Selling is more likely to accelerate today as buyers decide to go to the sidelines.
We expect the markets to decline significantly into July and will eventually present select opportunities to astute investors seeking value. We expect the decline will be over by early August.
In the USA the most popular is the “Your Warrantee is expiring,” scam. People who take warrantees are known to be vulnerable because bright people demand products that work not products that have warranties for their expected failure.
People in the USA with mortgage and other debt problems are being targeted by community con leaders. First they are told there is no charge unless the government can help. Then they are told, “Yes, the con artist can help, just send $1000 to start the action.” Then they never see their money again.
Wall Street has its own scam going on now. Little known junk stocks are being bought up in old fashioned short seller sucker rallies to lure in people who “know the stocks are worthless.” They draw in wave after wave of short sellers who do not realize that there a big con artists out there willing and able to buy up all the small company’s stock and then make it almost impossible for the short sellers to buy back the stock except at much higher prices. The high prices then attract even more short sellers the longer the scam goes on. Soon the con artists will be able to unload their holdings at high multiples. Then when the prices fall back they will start the scam again. This seems to be the prime way the shorts are being milked at this moment and the only thing this rally has going on that is profitable.
Market forces April 28
The deflationary forces are currently at their greatest rate of worsening but the steepness of decline is no longer getting steeper. The deflation rate is expected to peak at -2.8% in November 2009 from the current April annual deflation rate of -0.9% according to the Financial Forecast Center. They expect inflation to rear its ugly head by early 2010.
This recent equities market closely resembles 1970 to 1974 and bares little resemblance to 1929. There was also a short severe contraction that occurred in 1978 that does not show up in plots that use monthly averages. The 1978 contraction caught many people who became over exuberant and were buying heavily on margin. The market continued to rise 1976-1980 under the Jimmy Carter administration but inflation and unemployment (stagflation) caused Carter to lose to Ronald Regan in 1980. Ronald Regan had an economic contraction that ended stagflation and he cut the Carter taxes and then stimulated the longest continuous period of growth in American history. It ended what was then expected to be the Japanese overtaking of the USA.
Barack Obama looks like he will be another Jimmy Carter expanding the arrogant usurpation of American liberties by big government. The Carter government was predicting the world would run out of oil in 20 years and the world population would triple. The Obama administration is predicting uncontrollable global warming and China overtaking the USA.
Market Outlook
The equities market is highly oversold and junk stocks have become the big movers as investment con artists try to lure in unwary short sellers. The recent advance has had no breadth and no consistent leadership. The stimulation package seems to be stimulating big government spending, big government hiring, and community activist con artists out there claiming they are helping people with high debt difficulties.
Unfortunately big government:
Likes to usurp power and dictate to people and business
Likes to regulate individual lives
Becomes arrogant bully and wants unions and binding arbitration for itself for power
Is extremely difficult to stop once it takes root.
Defines love of healthy values as hate and politically incorrect
Big government is an invasive species that destroys all healthy growth, ethics, and societal values.
Asian shares were down last night with Shanghai (China) down -1.9%, India down -3.3%, Japan down -2.7% and Hong Kong down -1.9%.
European markets are currently down in the range of -2.2% to -2.7%, mid way through their day today.
US futures indicate the American markets will start the day down again. The Dow Jones Industrial Average futures were down 113 points, or 1.4%, while the S&P 500 futures were down 15 points and the Nasdaq 100 futures were down 19 points.
Selling is more likely to accelerate today as buyers decide to go to the sidelines.
We expect the markets to decline significantly into July and will eventually present select opportunities to astute investors seeking value. We expect the decline will be over by early August.
Monday, April 27, 2009
MSNBC/GE (America’s PRAVDA) helps influence government contracts
Market forces April 27
MSNBC/GE (America’s PRAVDA) helps influence government contracts.
Jim Cramer works for MSNBC which is owned by GE. GE is the only American company that owns a network that can use its reporting to influence government contracts. They can influence the Secretary of Defense to cancel contracts of GE competitors such as UTC. The raptor is America’s most advanced stealth fighter (the F22) and Pravda has convinced the Secretary of Defense to cancel it. Lockheed and UTC make the Raptor. Boeing favors GE and is a competitor of Lockheed so Boeing gets special treatment from MSNBC too. The MSNBC pressure against the Air Force tanker was also about benefitting the cozy GE-Boeing arrangement. The GE/MSNBC unholy control of the Obama administration should be broken up before Americans are defrauded more by MSNBC-PRAVDA.
Most military men want to puke listening to GE’s MSNBC drooling over Obama and prospective witch hunts as Obama labels our Navy SEAL under water training as torture when applied to terrorists. The Puritans had the original witch hunts and they also used dunking stools (water boarding). In fact every kid who has been ducked in a municipal or school pool has experienced Obama’s torture of water boarding. So by all rights Obama should close all American swimming pools if we want to stop that form of Obama torture. Some times a kid even drowns as a result of it.
Jim Cramer reversed himself three times in three consecutive days. On Friday he became a Bull again and also supported gaming stocks. In the previous week he was disparaging gaming stocks but on Friday those stocks soared upwards in price so he quickly changed his tune and claimed he recommended gambling stocks three weeks ago.
Jim Cramer’s method of speaking out of both sides of his mouth works well for himself but is a disaster to those who follow his recommendations. If the market collapses today he can say he picked the top last Thursday. If it goes up he can say he say he predicted that last Wednesday when he was in Ohio. It sounds like Cramer is auditioning for the Obama administration or GE president. First Obama says Bush gave us a depression, then he takes office and the depression by his definition ends. Jim Cramer then agrees the depression is over. No Jim, the administration is the depression and we have at least 1.5 more years to worry about that. And it could last 10 years as it did in Japan.
Market Outlook
Martin Capital says the S&P PE ratio is now 58, not below 10 as MSNBC says. MSNBC (America’s PRAVDA) does it wrong. MSNBC ignores companies that are losing money because their PE is negative. Martin Capital uses the weighted S&P price and divides it by the weighted S&P earnings to get the true weighted S&P PE which is now a very high 58 because earnings declined faster than stock prices. See:
http://www.martincapital.com/chart-pgs/Pg_per.htm
The U.K.’s former Treasury adviser Roger Bootle said the U.K.’s recession will last through the end of 2010 similar to the USA as house prices drop in an economic slump increasingly resembling that of the 1930s. In the USA commercial mortgage foreclosures are now accelerating as banks are left owning empty shopping malls.
The Group of Seven finance chiefs’ said the ability to handle banks’ toxic assets will determine the strength of the economic recovery, The U.S. government and the Fed agreed to spend, lend or force down bank’s throats $12.8 trillion to end the longest recession since the Great Depression. From the stock market standpoint the Dot-Com bubble recession started under Clinton with the market drop in March of 2000 and was not considered over until March stock rally of 2003 under Bush. The mortgage derivative bubble recession from the stock market perspective began in November 2007 under Bush and if it is only as long as the Dot-com recession the stock market would bottom in November 2010 under Obama. But that would also mean that this recession is no worse than the last recession. In any event it is evident that we are seeing only a bear market rally now.
Asian shares were down last night with Shanghai (China) down 1.8%, India up 0.4%, Japan up 0.2% and Hong Kong down 2.7%.
European markets are currently down in the range of -0.9% to -1.9%, mid way through their day today.
US futures indicate the American markets will start the day down again. As of 6:45 a.m. EST, the Dow Jones Industrial Average futures were down 147 points, or 1.82%, while the S&P 500 futures were down 18.10 points and the Nasdaq 100 futures were down 22 points.
We expect the markets to decline significantly into July and will present select opportunities to astute investors seeking value. We expect the decline will be over by early August.
MSNBC/GE (America’s PRAVDA) helps influence government contracts.
Jim Cramer works for MSNBC which is owned by GE. GE is the only American company that owns a network that can use its reporting to influence government contracts. They can influence the Secretary of Defense to cancel contracts of GE competitors such as UTC. The raptor is America’s most advanced stealth fighter (the F22) and Pravda has convinced the Secretary of Defense to cancel it. Lockheed and UTC make the Raptor. Boeing favors GE and is a competitor of Lockheed so Boeing gets special treatment from MSNBC too. The MSNBC pressure against the Air Force tanker was also about benefitting the cozy GE-Boeing arrangement. The GE/MSNBC unholy control of the Obama administration should be broken up before Americans are defrauded more by MSNBC-PRAVDA.
Most military men want to puke listening to GE’s MSNBC drooling over Obama and prospective witch hunts as Obama labels our Navy SEAL under water training as torture when applied to terrorists. The Puritans had the original witch hunts and they also used dunking stools (water boarding). In fact every kid who has been ducked in a municipal or school pool has experienced Obama’s torture of water boarding. So by all rights Obama should close all American swimming pools if we want to stop that form of Obama torture. Some times a kid even drowns as a result of it.
Jim Cramer reversed himself three times in three consecutive days. On Friday he became a Bull again and also supported gaming stocks. In the previous week he was disparaging gaming stocks but on Friday those stocks soared upwards in price so he quickly changed his tune and claimed he recommended gambling stocks three weeks ago.
Jim Cramer’s method of speaking out of both sides of his mouth works well for himself but is a disaster to those who follow his recommendations. If the market collapses today he can say he picked the top last Thursday. If it goes up he can say he say he predicted that last Wednesday when he was in Ohio. It sounds like Cramer is auditioning for the Obama administration or GE president. First Obama says Bush gave us a depression, then he takes office and the depression by his definition ends. Jim Cramer then agrees the depression is over. No Jim, the administration is the depression and we have at least 1.5 more years to worry about that. And it could last 10 years as it did in Japan.
Market Outlook
Martin Capital says the S&P PE ratio is now 58, not below 10 as MSNBC says. MSNBC (America’s PRAVDA) does it wrong. MSNBC ignores companies that are losing money because their PE is negative. Martin Capital uses the weighted S&P price and divides it by the weighted S&P earnings to get the true weighted S&P PE which is now a very high 58 because earnings declined faster than stock prices. See:
http://www.martincapital.com/chart-pgs/Pg_per.htm
The U.K.’s former Treasury adviser Roger Bootle said the U.K.’s recession will last through the end of 2010 similar to the USA as house prices drop in an economic slump increasingly resembling that of the 1930s. In the USA commercial mortgage foreclosures are now accelerating as banks are left owning empty shopping malls.
The Group of Seven finance chiefs’ said the ability to handle banks’ toxic assets will determine the strength of the economic recovery, The U.S. government and the Fed agreed to spend, lend or force down bank’s throats $12.8 trillion to end the longest recession since the Great Depression. From the stock market standpoint the Dot-Com bubble recession started under Clinton with the market drop in March of 2000 and was not considered over until March stock rally of 2003 under Bush. The mortgage derivative bubble recession from the stock market perspective began in November 2007 under Bush and if it is only as long as the Dot-com recession the stock market would bottom in November 2010 under Obama. But that would also mean that this recession is no worse than the last recession. In any event it is evident that we are seeing only a bear market rally now.
Asian shares were down last night with Shanghai (China) down 1.8%, India up 0.4%, Japan up 0.2% and Hong Kong down 2.7%.
European markets are currently down in the range of -0.9% to -1.9%, mid way through their day today.
US futures indicate the American markets will start the day down again. As of 6:45 a.m. EST, the Dow Jones Industrial Average futures were down 147 points, or 1.82%, while the S&P 500 futures were down 18.10 points and the Nasdaq 100 futures were down 22 points.
We expect the markets to decline significantly into July and will present select opportunities to astute investors seeking value. We expect the decline will be over by early August.
Friday, April 24, 2009
Jim Cramer now says sell!
Confidence in administration's financial competency declines. Administration spokesperson said she thought the American Tea Party movement is racist because the president is black.
Market forces April 24
Last night Dick Morris said, “Obama this week let it out that he will convert the government bank stock holdings from preferred stock to voting stock so the banks will be nationalized. That Morris said is socialism.”
Don Trump last night said, “I think this recession will last two more years.”
Last week was our recommended time to complete profit taking to reduce holdings. Both the MACD indicator and the Parabolic SAR turned negative early this week. Our re-spiral indicator has been saying be prepared for a decline and to buy near the next low.
Cash this week started flowing out of the stock market indicating a downturn is likely.
We expect the market will soon drop but the decline could last months.
Market Outlook
Doug Cass of RealMoney called the last stock market bottom and said yesterday that it is now time to sell.
Jim Cramer reversed himself yesterday and agreed with Doug Cass and said it is time not to be pigs but to take profits and sell. Buy and hold does not work now.
We recommended that all long market profits should have been taken by last week. All the signs are saying the stock market will decline sharply and could make a slightly deeper new low. The great damage the socialists do lies ahead when the next financial bubble is out of control. We believe next week the socialist will oust America's best bank executive, Bank of America's President Ken Lewis. It is just another demonstration of the seriousness of leftist lunacy and their power grab. It was a serious mistake to give them control of the three branches of government.
Asian shares were mixed last night with Shanghai (China) down 0.6%, India up 1.7%, Japan down 1.6% and Hong Kong up 0.2%.
European markets are currently up in the range of 0.2% to +1.5%, mid way through their day today.
US futures indicate the American markets will start the day flat again. Microsoft has just reported its first quarterly earnings decline (-32%). All the American equities markets remain extremely over bought. We believe the market made its last stand yesterday. As the markets decline significantly into July they will present select opportunities for astute investors seeking value. We expect the decline will be over by early August.
Market forces April 24
Last night Dick Morris said, “Obama this week let it out that he will convert the government bank stock holdings from preferred stock to voting stock so the banks will be nationalized. That Morris said is socialism.”
Don Trump last night said, “I think this recession will last two more years.”
Last week was our recommended time to complete profit taking to reduce holdings. Both the MACD indicator and the Parabolic SAR turned negative early this week. Our re-spiral indicator has been saying be prepared for a decline and to buy near the next low.
Cash this week started flowing out of the stock market indicating a downturn is likely.
We expect the market will soon drop but the decline could last months.
Market Outlook
Doug Cass of RealMoney called the last stock market bottom and said yesterday that it is now time to sell.
Jim Cramer reversed himself yesterday and agreed with Doug Cass and said it is time not to be pigs but to take profits and sell. Buy and hold does not work now.
We recommended that all long market profits should have been taken by last week. All the signs are saying the stock market will decline sharply and could make a slightly deeper new low. The great damage the socialists do lies ahead when the next financial bubble is out of control. We believe next week the socialist will oust America's best bank executive, Bank of America's President Ken Lewis. It is just another demonstration of the seriousness of leftist lunacy and their power grab. It was a serious mistake to give them control of the three branches of government.
Asian shares were mixed last night with Shanghai (China) down 0.6%, India up 1.7%, Japan down 1.6% and Hong Kong up 0.2%.
European markets are currently up in the range of 0.2% to +1.5%, mid way through their day today.
US futures indicate the American markets will start the day flat again. Microsoft has just reported its first quarterly earnings decline (-32%). All the American equities markets remain extremely over bought. We believe the market made its last stand yesterday. As the markets decline significantly into July they will present select opportunities for astute investors seeking value. We expect the decline will be over by early August.
Thursday, April 23, 2009
Jim Cramer is now trying to sell a stock market pig.
“Seeking alpha” says “The S&P 500 is currently trading 3.73% above its 50-day moving average, while the average stock in the index is 5.34% above its 50-day. They say this is a positive breadth measure.”
That is absolute nonsense. Breadth is defined by the Advance-decline index and the present market has no breadth of support. In fact the S&P index average delta must equal the average delta for the average stock in the index if their math is done correctly. They should have used the median stock delta compared to the average delta if they are looking for the spread in the delta. But in that case the breadth of the advance is inversely related to the spread between the median and average change relative to the 50-day average.
Jim Cramer is out of his league and…
Jim Cramer shows he knows nothing! Nothing, by repeating the “Seeking alpha” error!
Market forces April 23
Both the MACD indicator and the Parabolic SAR turned negative this week. Our re-spiral indicator says be prepared to buy near the next low.
We expect the market will soon drop precipitously but we predict the new low will be hit and thus behind us by early August. We think the penetration below the last low will be small again.
The S&P will not likely fall below 600.
The DJI will not likely fall below 6300
The NASDAQ will not likely fall below 1100
Market Outlook
All long market profits should have been taken by last week. All the signs are saying the stock market will decline sharply and could make a slightly deeper new low. Right now Obama says the socialists have the right to pick and chose which companies will survive once any company comes to drink at the poisoned cash trough of the socialists. The real damage the socialists will do lies ahead. We believe next week the socialist will oust America's best bank executive, Bank of America President Ken Lewis, as another demonstration of the seriousness of leftist lunacy.
Asian shares were up last night with Shanghai (China) up 0.1%, India up 2.9%, Japan up 1.4% and Hong Kong up 2.3%.
European markets are currently mixed in the range of -0.2% to +1%, mid way through their day today.
US futures indicate the American markets will start the day flat. Apple is up and down because while profitable it has lost its creative entrepreneur. All the American equities markets remain extremely over bought. We expect the market to try to make its last stand today. As the markets decline further they will present select opportunities to astute investors seeking value by catching individual stocks that are down in higher value ranges. We expect the decline will be over by early August.
That is absolute nonsense. Breadth is defined by the Advance-decline index and the present market has no breadth of support. In fact the S&P index average delta must equal the average delta for the average stock in the index if their math is done correctly. They should have used the median stock delta compared to the average delta if they are looking for the spread in the delta. But in that case the breadth of the advance is inversely related to the spread between the median and average change relative to the 50-day average.
Jim Cramer is out of his league and…
Jim Cramer shows he knows nothing! Nothing, by repeating the “Seeking alpha” error!
Market forces April 23
Both the MACD indicator and the Parabolic SAR turned negative this week. Our re-spiral indicator says be prepared to buy near the next low.
We expect the market will soon drop precipitously but we predict the new low will be hit and thus behind us by early August. We think the penetration below the last low will be small again.
The S&P will not likely fall below 600.
The DJI will not likely fall below 6300
The NASDAQ will not likely fall below 1100
Market Outlook
All long market profits should have been taken by last week. All the signs are saying the stock market will decline sharply and could make a slightly deeper new low. Right now Obama says the socialists have the right to pick and chose which companies will survive once any company comes to drink at the poisoned cash trough of the socialists. The real damage the socialists will do lies ahead. We believe next week the socialist will oust America's best bank executive, Bank of America President Ken Lewis, as another demonstration of the seriousness of leftist lunacy.
Asian shares were up last night with Shanghai (China) up 0.1%, India up 2.9%, Japan up 1.4% and Hong Kong up 2.3%.
European markets are currently mixed in the range of -0.2% to +1%, mid way through their day today.
US futures indicate the American markets will start the day flat. Apple is up and down because while profitable it has lost its creative entrepreneur. All the American equities markets remain extremely over bought. We expect the market to try to make its last stand today. As the markets decline further they will present select opportunities to astute investors seeking value by catching individual stocks that are down in higher value ranges. We expect the decline will be over by early August.
President Obama finally mentioned safe Nuclear power today, April 23.
But the lunatic left knows it works and therefore opposes its use. That is how we define lunacy. Lunacy (insanity) is repeatedly doing things over and over that just don't work.
Bob Brinker had a nuclear scientist on his money talk show several months ago who explained the French nuclear program and why their safe nuclear power was the real answer to our energy crisis. Ultimately we would need to develop fusion power but nuclear power from fission could buy us a few thousand years. Obama advisor, Warren Buffet, last year agreed with Bob Brinker and cancelled his wind power investments. The French now meet more than 80% of their energy needs with safe nuclear power and have not had a mishap in all the years they have been using it. In the whole western world, only American Democrat Socialists and the American lunatic left still oppose nuclear power. And demagogue Harry Reid in the Senate is the prime opponent. Reprocessing spent fuel is necessary to reduce nuclear waste by 95%. Then safe storage in Yucca Mountain is needed until if and when further reprocessing and permanent disposal is desired. As it is, as we spend nuclear fuel the radioactivity of the earth is depleated because we used most of it up and that is why it is called spent fuel. So when we store spent fuel in the ground we actually put less radioactivity back under ground than we took out to burn. That is why consuming the nuclear fuel makes the planet safer. We can even convert nuclear warheads to safe electrical energy and make the world much safer. Here is what France has done.
France's decision to launch a large nuclear program dates back to 1973 and the events in the Middle East that they refer to as the "oil shock." The quadrupling of the price of oil by OPEC nations was indeed a shock for France because at that time most of its electricity came from oil burning plants. France had and still has very few natural energy resources. It has no oil, no gas and her coal resources are very poor and virtually exhausted. In the USA environmentalists convinced President Carter that the world was running out of oil and there was nothing he could do. The environmentalists laughed when candidate Ronald Reagan proposed the world increase the supply side of oil.
French policy makers correctly saw only one way for France to achieve energy independence: nuclear energy, a source of energy so compact that a few pounds of fissionable uranium are all the fuel needed to run a big city for a year. Plans were drawn up to introduce the most comprehensive national nuclear energy program in history. Over the next 15 years France installed 56 nuclear reactors, satisfying its power needs and even exporting electricity to other European countries. The American supply side plan gave the world another thirty years of breathing room until the growth of the undeveloped countries like China and India overwhelmed supply. Now we finally cannot find enough oil to sustain world growth.
American lunatic leftists claim there is plenty of oil and we should drive up American energy costs until wind and bio-mass energy is competitive. But the immediate effects of their ideas have been to drive up the price of food and cause greater world starvation especially in corn dependent socialist societies. It is interesting to note that starvation only seems to occur now in countries with lunatic left socialist cultures. Smarter socialists use nuclear energy. The American lunatic left have also shut down most American hydroelectric plants and removed the dams because they are afraid it hinders the fish spawning in rivers. The state of Washington used to export their hydroelectric energy but now they don't have enough for themselves. The American lunatic left stopped the recent wind energy farm proposals on the New England seacoast because they were afraid that sea gulls will fly into the slowly rotating blades and be stunned and could drown. Now they say that there is plenty of oil and America should not begin drilling to have oil coming on line when the world economy recovers from the current recession. The French have concluded that the lunatic left uses psychology to exploit deep seated human myths and fears.
Ironically, the French nuclear program is based on American technology. After experimenting with their own gas-cooled reactors in the 1960s, the French gave up and purchased American Pressurized Water Reactors designed by Westinghouse. Sticking to just one design meant the 56 plants were much cheaper to build than in the US. Moreover, management of safety issues was much easier: the lessons from any incident at one plant could be quickly learned by managers of the other 55 plants. The "return of experience" says Mandil is much greater in a standardized system than in a free for all, with many different designs managed by many different utilities as we have in America.
Things were going very well until the late 80s when another nuclear issue surfaced that threatened to derail their very successful program: nuclear waste. Now, using the very recovery processes that the American lunatic left oppose in the USA the French were able to consume most of the waste to create additional energy.
French technocrats had never thought that the waste issue would be much of a problem. From the beginning the French had been recycling their nuclear waste, reclaiming the plutonium and unused uranium and fabricating new fuel elements. This not only gave additional energy reducing the need for the fuel, it reduced the volume and longevity of French radioactive waste. The volume of the ultimate high-level waste was indeed very small: the contribution of a family of four using electricity for 20 years is a glass cylinder the size of a cigarette lighter. It was assumed that this high-level waste would be buried in underground geological storage and in the 80s French engineers began digging exploratory holes in France's rural regions.
To the astonishment of France's technocrats, the populations in these regions were extremely unhappy. There were riots. The same rural regions that had actively lobbied to become nuclear power plant sites were openly hostile to the idea of being selected as France's nuclear waste dump. In retrospect, Mandil says, it's not surprising. It's not the risk of a waste site, so much as the lack of any perceived benefit. "People in France can be proud of their nuclear plants, but nobody wants to be proud of having a nuclear dustbin under its feet." In 1990, all activity was stopped and the matter was turned over to the French parliament, who appointed a politician, Monsieur Bataille, to look into the matter.
Christian Bataille resembles the French comedian Jacques Tati. His face breaks into a broad grin when asked why he was appointed to this task. "They were desperate," he says. "In France, executive power dominates much more than in Anglo-Saxon countries. So that if the Executive asks parliament to do something it means they are really at the end of their ideas."
Bataille went and spoke to the people who were protesting and soon realized that the engineers and bureaucrats had greatly misunderstood the psychology of the French people. The technocrats had seen the problem in technical terms. To them, the cheapest and safest solution was to permanently bury the waste underground. But for the rural French says Bataille, "the idea of burying the waste awoke the most profound human myths. In France we bury the dead, we don't bury nuclear waste...there was an idea of profanation of the soil, desecration of the Earth."
Bataille discovered that the rural populations had an idea of "Parisians, the consumers of electricity, coming to the countryside, going to the bottom of your garden with a spade, digging a hole and burying nuclear waste, permanently." Using the word permanently was especially clumsy says Bataille because it left the impression that the authorities were abandoning the waste forever and would never come back to take care of it.
Fighting the objections of technical experts who argued it would increase costs; Bataille introduced the notions of reversibility and stocking. Waste should not be buried permanently but rather stocked in a way that made it accessible at some time in the future. Europeans felt much happier with the idea of a "stocking center" than a "nuclear graveyard". Was this just a semantic difference? No, says Bataille. Stocking waste and watching it involves a commitment to the future. It implies that the waste will not be forgotten. It implies that the authorities will continue to be responsible. And, says Bataille, it offers some possibility of future advances. "Today we stock containers of waste because currently scientists don't know how to reduce or eliminate the toxicity, but maybe in 100 years perhaps scientists will."
Bataille began working on a new law that he presented to parliament in 1991. It laid plans to build 3-4 research laboratories at various sites. These laboratories would be charged with investigating various options, including deep geological storage, above ground stocking and transmutation and detoxification of waste. But in reality the nuclear energy process itself is a detoxification and purification process. Fissionable material already present it the earth is irradiating everything around it. That material is mined and concentrated so that a sustained much faster nuclear reaction can occur and in days the radiation content is reduced to what normally would occur in millions of years. Essentially each reactor gets its energy by converting radioactive Uranium into non-radioactive lead. The French then remove other radioactive wastes such as any created Plutonium by concentrating them and extracting their energy again removing radioactivity. The waste material produced from the radiating of the surrounding earth is the same kind of low level radioactive waste that the radioactive uranium produces if it is left in the ground. Therefore the nuclear energy program purifies the earth by removing highly radioactive materials and replacing them with the low level radioactive materials that will occur anyway if the Uranium is left undisturbed. These solid wastes are turned into a glass product that virtually eliminates any possibility of being penetrated or dissolved by water in the earth. Then they are store in extremely arid locations similar to the locations where uranium is mined that in addition have no ground water. The glass product is sealed in stainless steel containers that can be inspected, removed, reprocessed at a later date or further encapsulated in reinforced concrete. The net effect is the detoxification of the earth by accelerating the decay and elimination of the earth's radioactive materials (i.e. uranium) in nuclear power plants to produce low cost nuclear energy.
But as with hydroelectric plants (i.e. the state of Washington) and windmills on the Atlantic coast (i.e. Naragansette bay), and offshore oil drilling… the American lunatic left opposes nuclear energy (i.e. anywhere). These sources of energy have no CO2 foot print but the American environmentalists don’t want them in their back yard. Instead the American lunatic left support the continued use of fossil fuels at prices that impoverish Americans.
The energy consumed in producing a glass solar panel (mining, melting, fabricating) exceeds the net energy produced in the life of the panel. The actual output of wind energy farms has been demonstrated to be about 25% of their quoted (design) lifetime output. The goal of American environmentalists is not the lowering of our carbon footprint but is effectively the enrichment of a few lunatic left manufacturers who cannot produce any products with a net energy benefit, the Arab kings and princes, and world oil company executives. And they blame you and me who they force to consume oil for the C02 damage to the environment. The American lunatic left offers no worldwide solution except blame, regulation, worldwide poverty and ultimately starvation.
It is therefore not surprising that Warren Buffett, a key Obama advisor recognizes that nuclear energy is America’s future.
Bob Brinker had a nuclear scientist on his money talk show several months ago who explained the French nuclear program and why their safe nuclear power was the real answer to our energy crisis. Ultimately we would need to develop fusion power but nuclear power from fission could buy us a few thousand years. Obama advisor, Warren Buffet, last year agreed with Bob Brinker and cancelled his wind power investments. The French now meet more than 80% of their energy needs with safe nuclear power and have not had a mishap in all the years they have been using it. In the whole western world, only American Democrat Socialists and the American lunatic left still oppose nuclear power. And demagogue Harry Reid in the Senate is the prime opponent. Reprocessing spent fuel is necessary to reduce nuclear waste by 95%. Then safe storage in Yucca Mountain is needed until if and when further reprocessing and permanent disposal is desired. As it is, as we spend nuclear fuel the radioactivity of the earth is depleated because we used most of it up and that is why it is called spent fuel. So when we store spent fuel in the ground we actually put less radioactivity back under ground than we took out to burn. That is why consuming the nuclear fuel makes the planet safer. We can even convert nuclear warheads to safe electrical energy and make the world much safer. Here is what France has done.
France's decision to launch a large nuclear program dates back to 1973 and the events in the Middle East that they refer to as the "oil shock." The quadrupling of the price of oil by OPEC nations was indeed a shock for France because at that time most of its electricity came from oil burning plants. France had and still has very few natural energy resources. It has no oil, no gas and her coal resources are very poor and virtually exhausted. In the USA environmentalists convinced President Carter that the world was running out of oil and there was nothing he could do. The environmentalists laughed when candidate Ronald Reagan proposed the world increase the supply side of oil.
French policy makers correctly saw only one way for France to achieve energy independence: nuclear energy, a source of energy so compact that a few pounds of fissionable uranium are all the fuel needed to run a big city for a year. Plans were drawn up to introduce the most comprehensive national nuclear energy program in history. Over the next 15 years France installed 56 nuclear reactors, satisfying its power needs and even exporting electricity to other European countries. The American supply side plan gave the world another thirty years of breathing room until the growth of the undeveloped countries like China and India overwhelmed supply. Now we finally cannot find enough oil to sustain world growth.
American lunatic leftists claim there is plenty of oil and we should drive up American energy costs until wind and bio-mass energy is competitive. But the immediate effects of their ideas have been to drive up the price of food and cause greater world starvation especially in corn dependent socialist societies. It is interesting to note that starvation only seems to occur now in countries with lunatic left socialist cultures. Smarter socialists use nuclear energy. The American lunatic left have also shut down most American hydroelectric plants and removed the dams because they are afraid it hinders the fish spawning in rivers. The state of Washington used to export their hydroelectric energy but now they don't have enough for themselves. The American lunatic left stopped the recent wind energy farm proposals on the New England seacoast because they were afraid that sea gulls will fly into the slowly rotating blades and be stunned and could drown. Now they say that there is plenty of oil and America should not begin drilling to have oil coming on line when the world economy recovers from the current recession. The French have concluded that the lunatic left uses psychology to exploit deep seated human myths and fears.
Ironically, the French nuclear program is based on American technology. After experimenting with their own gas-cooled reactors in the 1960s, the French gave up and purchased American Pressurized Water Reactors designed by Westinghouse. Sticking to just one design meant the 56 plants were much cheaper to build than in the US. Moreover, management of safety issues was much easier: the lessons from any incident at one plant could be quickly learned by managers of the other 55 plants. The "return of experience" says Mandil is much greater in a standardized system than in a free for all, with many different designs managed by many different utilities as we have in America.
Things were going very well until the late 80s when another nuclear issue surfaced that threatened to derail their very successful program: nuclear waste. Now, using the very recovery processes that the American lunatic left oppose in the USA the French were able to consume most of the waste to create additional energy.
French technocrats had never thought that the waste issue would be much of a problem. From the beginning the French had been recycling their nuclear waste, reclaiming the plutonium and unused uranium and fabricating new fuel elements. This not only gave additional energy reducing the need for the fuel, it reduced the volume and longevity of French radioactive waste. The volume of the ultimate high-level waste was indeed very small: the contribution of a family of four using electricity for 20 years is a glass cylinder the size of a cigarette lighter. It was assumed that this high-level waste would be buried in underground geological storage and in the 80s French engineers began digging exploratory holes in France's rural regions.
To the astonishment of France's technocrats, the populations in these regions were extremely unhappy. There were riots. The same rural regions that had actively lobbied to become nuclear power plant sites were openly hostile to the idea of being selected as France's nuclear waste dump. In retrospect, Mandil says, it's not surprising. It's not the risk of a waste site, so much as the lack of any perceived benefit. "People in France can be proud of their nuclear plants, but nobody wants to be proud of having a nuclear dustbin under its feet." In 1990, all activity was stopped and the matter was turned over to the French parliament, who appointed a politician, Monsieur Bataille, to look into the matter.
Christian Bataille resembles the French comedian Jacques Tati. His face breaks into a broad grin when asked why he was appointed to this task. "They were desperate," he says. "In France, executive power dominates much more than in Anglo-Saxon countries. So that if the Executive asks parliament to do something it means they are really at the end of their ideas."
Bataille went and spoke to the people who were protesting and soon realized that the engineers and bureaucrats had greatly misunderstood the psychology of the French people. The technocrats had seen the problem in technical terms. To them, the cheapest and safest solution was to permanently bury the waste underground. But for the rural French says Bataille, "the idea of burying the waste awoke the most profound human myths. In France we bury the dead, we don't bury nuclear waste...there was an idea of profanation of the soil, desecration of the Earth."
Bataille discovered that the rural populations had an idea of "Parisians, the consumers of electricity, coming to the countryside, going to the bottom of your garden with a spade, digging a hole and burying nuclear waste, permanently." Using the word permanently was especially clumsy says Bataille because it left the impression that the authorities were abandoning the waste forever and would never come back to take care of it.
Fighting the objections of technical experts who argued it would increase costs; Bataille introduced the notions of reversibility and stocking. Waste should not be buried permanently but rather stocked in a way that made it accessible at some time in the future. Europeans felt much happier with the idea of a "stocking center" than a "nuclear graveyard". Was this just a semantic difference? No, says Bataille. Stocking waste and watching it involves a commitment to the future. It implies that the waste will not be forgotten. It implies that the authorities will continue to be responsible. And, says Bataille, it offers some possibility of future advances. "Today we stock containers of waste because currently scientists don't know how to reduce or eliminate the toxicity, but maybe in 100 years perhaps scientists will."
Bataille began working on a new law that he presented to parliament in 1991. It laid plans to build 3-4 research laboratories at various sites. These laboratories would be charged with investigating various options, including deep geological storage, above ground stocking and transmutation and detoxification of waste. But in reality the nuclear energy process itself is a detoxification and purification process. Fissionable material already present it the earth is irradiating everything around it. That material is mined and concentrated so that a sustained much faster nuclear reaction can occur and in days the radiation content is reduced to what normally would occur in millions of years. Essentially each reactor gets its energy by converting radioactive Uranium into non-radioactive lead. The French then remove other radioactive wastes such as any created Plutonium by concentrating them and extracting their energy again removing radioactivity. The waste material produced from the radiating of the surrounding earth is the same kind of low level radioactive waste that the radioactive uranium produces if it is left in the ground. Therefore the nuclear energy program purifies the earth by removing highly radioactive materials and replacing them with the low level radioactive materials that will occur anyway if the Uranium is left undisturbed. These solid wastes are turned into a glass product that virtually eliminates any possibility of being penetrated or dissolved by water in the earth. Then they are store in extremely arid locations similar to the locations where uranium is mined that in addition have no ground water. The glass product is sealed in stainless steel containers that can be inspected, removed, reprocessed at a later date or further encapsulated in reinforced concrete. The net effect is the detoxification of the earth by accelerating the decay and elimination of the earth's radioactive materials (i.e. uranium) in nuclear power plants to produce low cost nuclear energy.
But as with hydroelectric plants (i.e. the state of Washington) and windmills on the Atlantic coast (i.e. Naragansette bay), and offshore oil drilling… the American lunatic left opposes nuclear energy (i.e. anywhere). These sources of energy have no CO2 foot print but the American environmentalists don’t want them in their back yard. Instead the American lunatic left support the continued use of fossil fuels at prices that impoverish Americans.
The energy consumed in producing a glass solar panel (mining, melting, fabricating) exceeds the net energy produced in the life of the panel. The actual output of wind energy farms has been demonstrated to be about 25% of their quoted (design) lifetime output. The goal of American environmentalists is not the lowering of our carbon footprint but is effectively the enrichment of a few lunatic left manufacturers who cannot produce any products with a net energy benefit, the Arab kings and princes, and world oil company executives. And they blame you and me who they force to consume oil for the C02 damage to the environment. The American lunatic left offers no worldwide solution except blame, regulation, worldwide poverty and ultimately starvation.
It is therefore not surprising that Warren Buffett, a key Obama advisor recognizes that nuclear energy is America’s future.
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