Max Keiser and Gerald Celente Deconstruct Financial Fraud
Max Keiser and Gerald Celente Deconstruct Financial Fraud
his best, deconstructing the global ponzi with Gerald Celente, another very
much outspoken critic of the broken financial system.
From The Business Insider, May 24, 2010: Over the weekend, Jeff Collins at the O.C.
Register noted that the "Central Park West" complex in Irvine, California that was
mothballed by Lennar in 2007 is now back on the market. And from Amanda Fung at
Crain's New York: 'Shadow' condos dim sale outlook (ht Nick) A little over two years ago,
SDS Procida suspended plans to market The Dillon, its 83-unit Hell's Kitchen condo, when
residential real estate tanked ... the developer finally put the units on the block three
weeks ago ...“It is still early—you're not seeing a flood of apartments yet—but we may see
it happen during the second half of the year,” says Jonathan Miller, chief executive of
appraisal firm Miller Samuel Inc ... Mr. Miller estimates that there were 6,500 units of
shadow space in Manhattan alone during the first quarter of this year. If those apartments
were unloaded all at once, supply would potentially skyrocket by 70%.The term "shadow
inventory" is used in many different ways. My definition is: housing units that are not
currently listed on the market, but will probably be listed soon. This includes:
• Unlisted new high rise condos as discussed above. Note: these properties are not
included in the new home inventory report.
• Homeowners waiting for a better market. Some of the increase in inventory in April
might have been sellers hoping to take advantage of the tax credit. This includes
the accidental landlords who will try to sell as soon as the market improves and
the current tenant's lease expires.
• REOs, foreclosures in process and some percentage of seriously delinquent loans
(some will cure, some are already listed as short sales). See: Mortgage
Delinquencies by Period
• It is difficult to put a number on the total, but it is in the millions of units and all this
inventory will keep downward pressure on house prices for some time.
THE PATH OF LEAST RESISTANCE IS DOWN by TIMOTHY COLLINS Last Thursday's low
just became important to me. I know we had the "whoosh" on Friday, but it was short-
lived. Also, the close on Thursday was tested before the phantom bull stampede late
Friday afternoon. I was looking for a test of $104.55 on the SPDR S&P 500 ETF last week,
and we came close on Friday, but didn't get it. The way we closed today, it felt like we were
setting up for that test. If that fails, then I will be shorting, looking for a cover around $95.
Transocean really fell off a cliff today. When I mentioned $55 and $50, I wasn't thinking
today or tomorrow, and $55 didn't give the stock much of a pause. If it wasn't clear before
today, it should be now: This is a falling knife…
• Joe Weisenthal, On Monday May 24, 2010, 4:00 pm EDT On Friday, things were
looking mixed until the final moments of the day, and then stocks surged. Today, it
was the reverse. After only being down modestly, stocks really got hit hard in the
final 15 minutes of trading
But first, the scoreboard:
Dow: -126 (-1.24%)
S&P 500: -14 (-1.29%)
NASDAQ: -15.49 (-.7%)
And now to the day's top stories:
Today's markets were characterized by calm selling, which is a departure from last
week's panic selling, but also indicative of a new mindset that when there's no
major news, the default is to sell. And then of course, the markets dove in the final
minutes.
• Financial stocks were hit the hardest, as banking fears grow, and questions about
financial reform linger. Losers included Bank of America (BAC), Goldman Sachs
(GS), and Morgan Stanley (MS) Click here to see the hedge fund managers getting
hammered >
• An issues that's been of concern for some time -- Spanish debt and the health of
its banking system -- is starting to come into the fore. This weekend Spain seized
one bank, and today investors were unnerved by an organized merger of four
weaker institutions. For more on the Spanish banking crisis see here >
• The oil leak in the Gulf continues to spew unabated. Towns in Louisiana are
already seeing a major hit to real estate. See what Grand Isle Louisiana, arguably
ground zero, looks like now >
• One notable winner today was gold which, after selling off last week, rebounded
nicely today.
In my opinion, a good portion of these factors will likely impact margins by the end of the
year. I don’t believe this is adequately factored into earnings estimates across the board.
Given this, I believe we have seen the highs for the year and next few quarters will be
extremely volatile. Be careful out there.
Armistead: … ‘A number of writers and commentators have cited Robert Shiller's CAPE or
P/E10 as evidence that stocks are overvalued, relying on very long term average
P/E10 as the basis for that conclusion. In his book, Irrational Exuberance, Shiller
proposed the use of inflation adjusted 10 year average P/Es (P/E10 or CAPE
(Cyclically Adjusted Price Earnings Ratio)) as a basis for calculating the level of the
S&P 500’ ...
Taking Defensive Action When Demand for Equities is Unhealthy Nussbaum: ‘Friday the
S&P 500 closed below its 200 DMA for the second day in a row which is an important
milestone for how we navigate market cycles. A breach of the 200 DMA indicates
that demand for equities is not healthy and when demand is not healthy it makes
sense to consider defensive action. The reason I wait until the end of the second day
is to try to reduce the chance of getting whipsawed, but if we get whipsawed so be
it. The priority is not to be correct down to the last basis point, it is to avoid the full
brunt of down a lot should it happen. The specific trade was to triple up the existing
sub-1% position in SDS that many clients had or to buy a suitably sized position for
any newer clients who did not own any shares. If we flirt around the 200 DMA then I
will be more tactical with the trade this time, coming out completely if market
circumstances dictate. If it had to be unwound and then it went back below very
soon thereafter, I would probably use another broad based double short ETF to
allow taxable accounts to keep the tax loss. As far as a read on the market action, I
tweeted Friday that the fact that emerging market stocks and mining stocks were
down more than the broader market on Thursday and up more on Friday leads me to
believe that the sell off thus far has not been cathartic. It may turn out to be so if it
goes back down further, of course, but not at this point. David Lutz (he is on Erin's
show all the time but I don't recall the firm he works for) said on Thursday that if the
SPX did not take back the 200 DMA on Friday, then the current breach would be
significant. Obviously I'm favorably disposed to the idea as it jibes with the action
we took Friday. I would tell you at this point to not get caught up in which animal
best describes the market or about official corrections (one of the most useless
terms ever). The stuff I write about and implement focuses on signs of unhealthy
demand which is not perfect - but I don't think it has to be. The modern track record
for the few occasions where the market does end up going down a lot is to warn
very early, with the last two important breaches coming in November 2000 and late
2007’.
The Giant Banks, Federal Reserve and Treasury Have All Blackmailed
America If the too big to fails say that the world economy will crash
and there will be martial law unless they are bailed out, politicians –
most of whom don’t understand finance or economics – will believe
them, and sound the alarm themselves. [People may have short
memories but these threats were made]. Cap and Trade: A Gigantic
Scam The same companies that made billions off of derivatives and
other scams and are now getting bailed out on your dime are going to
make billions from carbon trading. Great Depression 2.0. Bet on it
Mike Whitney | Sovereign governments whose debts are paid in its
own currency, are not like you and me.
The frauds on wall street et als should be criminally prosecuted, jailed, and
disgorgement imposed. If that were so, they wouldn’t be worrying about
who wins / loses since those who fraudulently play, invariably pay. If
they’re not prosecuted, everyone loses.
This is a global depression. This is a secular bear market in a global depression. This was
a manipulated bull (s***) cycle in a secular bear market. This has been a typically
manipulated bubble as has preceded the prior crashes with great regularity that the
wall street frauds and insiders commission and sell into. This is a typical wall street
churn and earn pass the hot potato scam / fraud as in prior crashes.
Too Big to Fail Means Too Big to Exist Greg Hunter | I don’t see any way
we are going to see a breakup of the banks. Celente On the Edge:
Off With Their Heads 2.0 Infowars.com | Trends forecaster Gerald
Celente tells Max Keiser a revolution is coming. Celente: 2010 Year
of the Bubble Meet the Truth | Trends forecaster predicts the
complete collapse of the dollar. Burden of Irish debt could yet
eclipse that of Greece Irish Times | What will sink us, unfortunately
but inevitably, are the huge costs of the September 2008 bank bailout.
Bank of Spain seizes control of savings bank CajaSur MarketWatch |
CajaSur posted a net loss of 596 million euros ($750 million).
(5-24-10) Dow 10,066 -127 Nasdaq 2213 -15 S&P 500 1,074 -14 [CLOSE-
OIL $70.22 (-54% for year 2008) (RECORD TRADING HIGH $147.27)
GAS $2.85 (reg. gas in LAND OF FRUITS AND NUTS $3.05 REG./ $3.26
MID-GRADE/ $3.35 PREM./ $3.08 DIESEL)/ GOLD $1,193 [video] Gold
Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER
$17.90 (+47% for year 2009) PLATINUM $1,526 (+56% for year 2009) /
DOLLAR= .81 EURO, 90 YEN, .69 POUND STERLING, ETC. (How low
can you go - LOWER)/ 10 YR NOTE YIELD 3.20% …..… AP Business
Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly
Recap – Stocks / Bonds / Currencies - Domestic / International
MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD
PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6
Theories On Why the Stock Market Has Rallied 3-9-10 [archived
website file] Risks Lurk for ETF Investors The bull market that
never was/were beyond wall street b.s. when measured in gold
Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The
Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010
01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE
COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer
(01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-
22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not
Going To Recover Current Economic / Fiscal Charts
Trendsresearch.com forecast for 2009 1-7-10 Crash is coming!
‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic /
Financial Data This Depression is just beginning The
coming depression… thecomingdepression.net MUST READ:
JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850
on the S&P) by TPC The Next Wave of Collapse is Coming Sooner
than you think Sliding Back Into the Great Depression
ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS
WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME!
http://www.albertpeia.com/alresume.htm
wobama’s wet dream with new jive of New New New “International Order”
despite nation’s defacto bankruptcy and policies that have left allies
defacto bankrupt as well in jive session At West Point Uses
teleprompters... Tepid applause from cadets: Cuts 'That's a lot of cheering' line from
prepared remarks... Freshmen Run Away From Obama (CQPolitics.com)
Rasmussen: Obama Approval Drops To 44%, 63% Favor Health Care
Repeal Sixty-three percent (63%) of voters nationwide favor repeal of the
health care law. That’s the highest level of support for repeal yet measured.
Is this the best new york can do? How pathetic! Mob man cuomo will run
for New York governor Salt Lake Tribune - Michael Gormley AP
Albany, NY » New York Attorney General Andrew Cuomo declared
Saturday he is running for governor of the state once led by his iconic
father, after a coy stealth candidacy smiled upon by the White House
and conducted as he carefully brings no mob prosecutions in n.y. as
attorney general where as in jersey the mob is alive and well nad as
such is dysfunctional, which dysfunctionality he and his have been
very much a part of… Don’t forget his substantial role a HUD in the
still extent financial debacle ... Video: NY's Mob families try for
comeback in state as cuomo Announces He's Running for Governor
The Associated Press cuomo takes aim at not mafia enough Albany
in announcing candidacy Buffalo News Sestak confirms WH job
offer to get out of Senate race … to save specter whose specter is no
more in those hallowed hall he sullied as less than inspector specter
from JFK assassination, to financial assassination of the nation,
etc. ...
Rand Paul, Civil Rights, and More Liberal Hypocrisy on Race This week,
thanks to Rand Paul’s win in the race for the Republican nomination for
U.S. Senate in Kentucky, we are treated to another grand spectacle of
liberal hypocrisy when it comes to race. Senators: Obama admin keeps
Congress in dark on intel Anti-incumbent fever hits Colorado
U.S. military told to get ready in Korea standoff The White House said
Monday that President Barack Obama “fully supports” the South
Korean president and his response to the torpedo attack by North
Korea that sank a South Korean naval ship. The new ‘Gulf of Tonkin’?
The new Iraq? The new Panama? ‘Remember the Maine’? Etc. Déjà vu
all over again? North Korea: An Enemy Made in the U.S.A. Kurt
Nimmo | The North Korea threat now dominating the headlines was
custom-made by the global elite and the military-industrial complex.
Revealed: how Israel offered to sell South Africa nuclear weapons Secret
South African documents reveal that Israel offered to sell nuclear
warheads to the apartheid regime, providing the first official
documentary evidence of the state’s possession of nuclear weapons.
Russia rebukes u.s. over Afghan heroin glut, the increase being american
induced for love of drug money FT.com | Moscow has criticised US-led
forces in Afghanistan for failing to eradicate heroin production and warned
at the weekend that drug smuggling was endangering Russia’s national
security.
http://www.albertpeia.com/alresume.htm
NASA wants mission to bring Martian rocks to Earth (AP) Why? They
already have that and more:
Launch of secret US space ship masks even more secret launch of new
weapon
http://www.albertpeia.com/UFOetryWeNeverWentToTheMoonPNTV.wmv
"What this means is that Neanderthals are not totally extinct. In some of us,
they live on," Paabo … With regard to that extinction thing, I’d say
they’re still working on it (ultimately, decades, extinction, the
distinction, without a difference). Actually, prior to studying the
compelling subject of Biological Anthropology (Michael Park text), I
too had some misconceptions about the group known as Neandertals
(recent spelling drops the ‘h’) and actually mis-referenced same by the
stereotypical image of members of said clade even as the debate
continues as to whether they are within the species homo sapiens or a
separate species. I believe these to be distinctions without important
differences, so humble the origins and evolution of man truly are.
Parenthetically, I wonder what that anthropological scientist Heidi
Klum thinks on the subject.
Previously I wrote:
FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and
the many like it, are old news and I subscribe to the more studied view
that there is no “missing link” per se and in my view are distinctions
without significant differences. I previously wrote:
To Learn More About From Whence Man Came, This Link's For You
[To the Professor at the beginning of the course]
Seeing Aliens Will Likely Take Centuries. Centuries? Not goin’ to happen;
at best, decades.
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