AIG is back to $48/share?!?!

[partypup]

[quote=Allan from Fallbrook]Partypup: In all seriousness, you cannot equate the gyrations of the stock market with anything happening in the larger economy.

The stock market is completely disconnected from any sort of reality right now and the momentum shifts and surges underscore this point.[/quote]

Yes, I know you’re right, Allan. It’s just that the cognitive dissonance has become so deafening that I am surprised ANYONE even buys this b.s anymore. But yet, they do. I just had breakfast with an unemployed lawyer, formerly a vice president at my company – out of work for 9 months with absolutely no prospects in sight – and she is burning through her savings…which happens to be 100% in the stock market. Now, if you are literally clinging to the last and only assets you have, why in God’s name would you put them in a gyrating stock market that is clearly being manipulated or artificially stoked? Why take the chance? Why not be in cash?

Like a gambler in vegas, she tells me that she’s already lost 50%, so she can’t walk away.

Lambs to the slaughter. There will be blood.

[partypup]

[quote=werewolf34]Can anybody point at stronger fundamental economic data that supports higher stocks?

If not, then the rise in stocks is speculation that the economy recovers in the future (how long in the future?)[/quote]

Werewolf, I can’t point you to any strong economic data, but my bones are telling me that any recovery for this country is going to literally be a decade (or more away). Why? Because way too many stars are aligning against us. A perfect storm is being created. Now, in addition to the BRIC bloc clamoring for a dollar replacement, we have to contend with the fact that the opposition party in Japan will almost certainly win the election this Sunday. For the first time in 54 years, the ruling party will be out. And the opposition party has made one thing extremely clear: no more dollars. Come this Fall, when our second largest creditor begins to demand repayment of U.S. bonds in YEN, the floodgates will be opened, and other countries will follow suit. All of Obama’s debt-laden fantasies of reform and *change* will come crashing down, along with the dollar.

Those who expect a recovery for housing, those who are working to *reform* health care, those who are hoping that stimuli will stimulate this dead frog -these people may as well be polishing flatware on the Titanic.

And the greatest tragedy is that this blow will come suddenly, unexpectedly, for the people who have been manipulated and coxed by the media into believing the worst is behind us. This is an economic crime against humanity. They will be left adrift, with a shredded dollar and no safety net from a collapsing government.

“But the next blow to the dollar may come as a complete surprise to Washington policymakers. Since World War ii, Japan has been a stalwart dollar supporter and a close collaborator with Federal Reserve monetary policy. That may be about to end. For only the second time in 54 years, the opposition in Japan is close to taking over the government. Japan’s economy, like those of the rest of the world, is in severe contraction, and disgruntled voters are upsetting the balance of power and pushing for radical reforms.

Back in May, Masaharu Nakagawa, the chief finance spokesman for the opposition, told the bbc that he was worried about the future value of the dollar. He said that if his party were elected in the upcoming national elections, Japan would refuse to purchase any more U.S. treasuries unless they were denominated in Japanese yen instead of dollars.

Such a decision could break the U.S. dollar bond market.”

http://seeker401.wordpress.com/2009/07/24/the-world-prepares-to-dump-the-usd/

[partypup]

[quote=werewolf34]Can anybody point at stronger fundamental economic data that supports higher stocks?

If not, then the rise in stocks is speculation that the economy recovers in the future (how long in the future?)[/quote]

Werewolf, I can’t point you to any strong economic data, but my bones are telling me that any recovery for this country is going to literally be a decade (or more away). Why? Because way too many stars are aligning against us. A perfect storm is being created. Now, in addition to the BRIC bloc clamoring for a dollar replacement, we have to contend with the fact that the opposition party in Japan will almost certainly win the election this Sunday. For the first time in 54 years, the ruling party will be out. And the opposition party has made one thing extremely clear: no more dollars. Come this Fall, when our second largest creditor begins to demand repayment of U.S. bonds in YEN, the floodgates will be opened, and other countries will follow suit. All of Obama’s debt-laden fantasies of reform and *change* will come crashing down, along with the dollar.

Those who expect a recovery for housing, those who are working to *reform* health care, those who are hoping that stimuli will stimulate this dead frog -these people may as well be polishing flatware on the Titanic.

And the greatest tragedy is that this blow will come suddenly, unexpectedly, for the people who have been manipulated and coxed by the media into believing the worst is behind us. This is an economic crime against humanity. They will be left adrift, with a shredded dollar and no safety net from a collapsing government.

“But the next blow to the dollar may come as a complete surprise to Washington policymakers. Since World War ii, Japan has been a stalwart dollar supporter and a close collaborator with Federal Reserve monetary policy. That may be about to end. For only the second time in 54 years, the opposition in Japan is close to taking over the government. Japan’s economy, like those of the rest of the world, is in severe contraction, and disgruntled voters are upsetting the balance of power and pushing for radical reforms.

Back in May, Masaharu Nakagawa, the chief finance spokesman for the opposition, told the bbc that he was worried about the future value of the dollar. He said that if his party were elected in the upcoming national elections, Japan would refuse to purchase any more U.S. treasuries unless they were denominated in Japanese yen instead of dollars.

Such a decision could break the U.S. dollar bond market.”

http://seeker401.wordpress.com/2009/07/24/the-world-prepares-to-dump-the-usd/

[partypup]

[quote=werewolf34]Can anybody point at stronger fundamental economic data that supports higher stocks?

If not, then the rise in stocks is speculation that the economy recovers in the future (how long in the future?)[/quote]

Werewolf, I can’t point you to any strong economic data, but my bones are telling me that any recovery for this country is going to literally be a decade (or more away). Why? Because way too many stars are aligning against us. A perfect storm is being created. Now, in addition to the BRIC bloc clamoring for a dollar replacement, we have to contend with the fact that the opposition party in Japan will almost certainly win the election this Sunday. For the first time in 54 years, the ruling party will be out. And the opposition party has made one thing extremely clear: no more dollars. Come this Fall, when our second largest creditor begins to demand repayment of U.S. bonds in YEN, the floodgates will be opened, and other countries will follow suit. All of Obama’s debt-laden fantasies of reform and *change* will come crashing down, along with the dollar.

Those who expect a recovery for housing, those who are working to *reform* health care, those who are hoping that stimuli will stimulate this dead frog -these people may as well be polishing flatware on the Titanic.

And the greatest tragedy is that this blow will come suddenly, unexpectedly, for the people who have been manipulated and coxed by the media into believing the worst is behind us. This is an economic crime against humanity. They will be left adrift, with a shredded dollar and no safety net from a collapsing government.

“But the next blow to the dollar may come as a complete surprise to Washington policymakers. Since World War ii, Japan has been a stalwart dollar supporter and a close collaborator with Federal Reserve monetary policy. That may be about to end. For only the second time in 54 years, the opposition in Japan is close to taking over the government. Japan’s economy, like those of the rest of the world, is in severe contraction, and disgruntled voters are upsetting the balance of power and pushing for radical reforms.

Back in May, Masaharu Nakagawa, the chief finance spokesman for the opposition, told the bbc that he was worried about the future value of the dollar. He said that if his party were elected in the upcoming national elections, Japan would refuse to purchase any more U.S. treasuries unless they were denominated in Japanese yen instead of dollars.

Such a decision could break the U.S. dollar bond market.”

http://seeker401.wordpress.com/2009/07/24/the-world-prepares-to-dump-the-usd/

[partypup]

[quote=werewolf34]Can anybody point at stronger fundamental economic data that supports higher stocks?

If not, then the rise in stocks is speculation that the economy recovers in the future (how long in the future?)[/quote]

Werewolf, I can’t point you to any strong economic data, but my bones are telling me that any recovery for this country is going to literally be a decade (or more away). Why? Because way too many stars are aligning against us. A perfect storm is being created. Now, in addition to the BRIC bloc clamoring for a dollar replacement, we have to contend with the fact that the opposition party in Japan will almost certainly win the election this Sunday. For the first time in 54 years, the ruling party will be out. And the opposition party has made one thing extremely clear: no more dollars. Come this Fall, when our second largest creditor begins to demand repayment of U.S. bonds in YEN, the floodgates will be opened, and other countries will follow suit. All of Obama’s debt-laden fantasies of reform and *change* will come crashing down, along with the dollar.

Those who expect a recovery for housing, those who are working to *reform* health care, those who are hoping that stimuli will stimulate this dead frog -these people may as well be polishing flatware on the Titanic.

And the greatest tragedy is that this blow will come suddenly, unexpectedly, for the people who have been manipulated and coxed by the media into believing the worst is behind us. This is an economic crime against humanity. They will be left adrift, with a shredded dollar and no safety net from a collapsing government.

“But the next blow to the dollar may come as a complete surprise to Washington policymakers. Since World War ii, Japan has been a stalwart dollar supporter and a close collaborator with Federal Reserve monetary policy. That may be about to end. For only the second time in 54 years, the opposition in Japan is close to taking over the government. Japan’s economy, like those of the rest of the world, is in severe contraction, and disgruntled voters are upsetting the balance of power and pushing for radical reforms.

Back in May, Masaharu Nakagawa, the chief finance spokesman for the opposition, told the bbc that he was worried about the future value of the dollar. He said that if his party were elected in the upcoming national elections, Japan would refuse to purchase any more U.S. treasuries unless they were denominated in Japanese yen instead of dollars.

Such a decision could break the U.S. dollar bond market.”

http://seeker401.wordpress.com/2009/07/24/the-world-prepares-to-dump-the-usd/

[partypup]

[quote=werewolf34]Can anybody point at stronger fundamental economic data that supports higher stocks?

If not, then the rise in stocks is speculation that the economy recovers in the future (how long in the future?)[/quote]

Werewolf, I can’t point you to any strong economic data, but my bones are telling me that any recovery for this country is going to literally be a decade (or more away). Why? Because way too many stars are aligning against us. A perfect storm is being created. Now, in addition to the BRIC bloc clamoring for a dollar replacement, we have to contend with the fact that the opposition party in Japan will almost certainly win the election this Sunday. For the first time in 54 years, the ruling party will be out. And the opposition party has made one thing extremely clear: no more dollars. Come this Fall, when our second largest creditor begins to demand repayment of U.S. bonds in YEN, the floodgates will be opened, and other countries will follow suit. All of Obama’s debt-laden fantasies of reform and *change* will come crashing down, along with the dollar.

Those who expect a recovery for housing, those who are working to *reform* health care, those who are hoping that stimuli will stimulate this dead frog -these people may as well be polishing flatware on the Titanic.

And the greatest tragedy is that this blow will come suddenly, unexpectedly, for the people who have been manipulated and coxed by the media into believing the worst is behind us. This is an economic crime against humanity. They will be left adrift, with a shredded dollar and no safety net from a collapsing government.

“But the next blow to the dollar may come as a complete surprise to Washington policymakers. Since World War ii, Japan has been a stalwart dollar supporter and a close collaborator with Federal Reserve monetary policy. That may be about to end. For only the second time in 54 years, the opposition in Japan is close to taking over the government. Japan’s economy, like those of the rest of the world, is in severe contraction, and disgruntled voters are upsetting the balance of power and pushing for radical reforms.

Back in May, Masaharu Nakagawa, the chief finance spokesman for the opposition, told the bbc that he was worried about the future value of the dollar. He said that if his party were elected in the upcoming national elections, Japan would refuse to purchase any more U.S. treasuries unless they were denominated in Japanese yen instead of dollars.

Such a decision could break the U.S. dollar bond market.”

http://seeker401.wordpress.com/2009/07/24/the-world-prepares-to-dump-the-usd/

[scaredyclassic]

and how exactly does hitler relate to all this; wait; don’t answer that. just wanted to innoculate the discussion against future hitlerian references by giving small hitler antibodies.

[scaredyclassic]

and how exactly does hitler relate to all this; wait; don’t answer that. just wanted to innoculate the discussion against future hitlerian references by giving small hitler antibodies.

[scaredyclassic]

and how exactly does hitler relate to all this; wait; don’t answer that. just wanted to innoculate the discussion against future hitlerian references by giving small hitler antibodies.

[scaredyclassic]

and how exactly does hitler relate to all this; wait; don’t answer that. just wanted to innoculate the discussion against future hitlerian references by giving small hitler antibodies.

[scaredyclassic]

and how exactly does hitler relate to all this; wait; don’t answer that. just wanted to innoculate the discussion against future hitlerian references by giving small hitler antibodies.

[Arraya]

Then there is this…

http://www.zerohedge.com/article/racketeering-101-bailed-out-banks-threaten-systemic-collapse-if-fed-discloses-information

And so the guns come out blazing. The Clearing House Association, another name for all the banks that were bailed out over the past year with the generous contributions from all of you, dear taxpayers, are now threatening with another instance of complete systemic collapse if Bloomberg’s lawsuit is allowed to proceed unchallenged, let alone if any of the “Audit The Fed” measures are actually implemented.

The fed has 2 trillion in loans that they refuse to let anybody know whom it was lent to.

They threaten us with complete financial armagedon if the names are revealed.

How’s that make you feel?

Looks like a lot of storm clouds gathering this this fall…

[Arraya]

Then there is this…

http://www.zerohedge.com/article/racketeering-101-bailed-out-banks-threaten-systemic-collapse-if-fed-discloses-information

And so the guns come out blazing. The Clearing House Association, another name for all the banks that were bailed out over the past year with the generous contributions from all of you, dear taxpayers, are now threatening with another instance of complete systemic collapse if Bloomberg’s lawsuit is allowed to proceed unchallenged, let alone if any of the “Audit The Fed” measures are actually implemented.

The fed has 2 trillion in loans that they refuse to let anybody know whom it was lent to.

They threaten us with complete financial armagedon if the names are revealed.

How’s that make you feel?

Looks like a lot of storm clouds gathering this this fall…

[Arraya]

Then there is this…

http://www.zerohedge.com/article/racketeering-101-bailed-out-banks-threaten-systemic-collapse-if-fed-discloses-information

And so the guns come out blazing. The Clearing House Association, another name for all the banks that were bailed out over the past year with the generous contributions from all of you, dear taxpayers, are now threatening with another instance of complete systemic collapse if Bloomberg’s lawsuit is allowed to proceed unchallenged, let alone if any of the “Audit The Fed” measures are actually implemented.

The fed has 2 trillion in loans that they refuse to let anybody know whom it was lent to.

They threaten us with complete financial armagedon if the names are revealed.

How’s that make you feel?

Looks like a lot of storm clouds gathering this this fall…

[Arraya]

Then there is this…

http://www.zerohedge.com/article/racketeering-101-bailed-out-banks-threaten-systemic-collapse-if-fed-discloses-information

And so the guns come out blazing. The Clearing House Association, another name for all the banks that were bailed out over the past year with the generous contributions from all of you, dear taxpayers, are now threatening with another instance of complete systemic collapse if Bloomberg’s lawsuit is allowed to proceed unchallenged, let alone if any of the “Audit The Fed” measures are actually implemented.

The fed has 2 trillion in loans that they refuse to let anybody know whom it was lent to.

They threaten us with complete financial armagedon if the names are revealed.

How’s that make you feel?

Looks like a lot of storm clouds gathering this this fall…

[Author]

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