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ES and the Great POMO Rally
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ES and the Great POMO Rally

  #101 (permalink)
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One Guy's Forecast for 2011

One of my favorite commentators:

Forecast 2011 - Gird Your Loins for Lower Living Standards - Clusterfuck Nation

It's tough to take issue with this:

..."What's left of the American economy is a web of financial rackets divorced from the production of real wealth, dependent on an elaborate computerized three-card-monte edifice of swindling. Those groans and creakings you hear are the agonies of this ediface swaying under its burden of lies, while underneath it the ground of history shifts...."


It's always good to keep up with what Charles Hugh Smith is thinking (Denninger picked up on this same topic, too)

http://www.oftwominds.com/blogjan11/why-financial-doom01-11.html

".....Here are the charts. Note how the speculative economy created the illusion of rising wealth for the bottom 90%, an illusion stripped away by the Default Economy.
In essence, the Financial Power Elites profited immensely from creating this illusory wealth which gave the bottom 90% the false sensation that their declining earnings and purchasing power were being offset by the "magic" of asset bubbles.
Then, when the bubble popped, the Financial Power Elites transferred the impaired assets to the taxpayers, a process which is still underway. The politicos of both parties are complicit; behind the simulacra of toothless "reforms," this process proceeds in myriad ways (Bank of America transferring toxic debt to Fannie/Freddie, etc.) Behind the smokescreen of conjuring a "wealth effect" to foster more consumption, the Fed's purchase of Treasuries (QE2) serves this transfer-of-debt-to-the-public process.
..."

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  #102 (permalink)
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Zondor View Post
One of my favorite commentators:

Forecast 2011 - Gird Your Loins for Lower Living Standards - Clusterfuck Nation

It's tough to take issue with this:

..."What's left of the American economy is a web of financial rackets divorced from the production of real wealth, dependent on an elaborate computerized three-card-monte edifice of swindling. Those groans and creakings you hear are the agonies of this ediface swaying under its burden of lies, while underneath it the ground of history shifts...."


It's always good to keep up with what Charles Hugh Smith is thinking (Denninger picked up on this same topic, too)

charles hugh smith-Why the World Is Financially Doomed in Four Charts

".....Here are the charts. Note how the speculative economy created the illusion of rising wealth for the bottom 90%, an illusion stripped away by the Default Economy.
In essence, the Financial Power Elites profited immensely from creating this illusory wealth which gave the bottom 90% the false sensation that their declining earnings and purchasing power were being offset by the "magic" of asset bubbles.
Then, when the bubble popped, the Financial Power Elites transferred the impaired assets to the taxpayers, a process which is still underway. The politicos of both parties are complicit; behind the simulacra of toothless "reforms," this process proceeds in myriad ways (Bank of America transferring toxic debt to Fannie/Freddie, etc.) Behind the smokescreen of conjuring a "wealth effect" to foster more consumption, the Fed's purchase of Treasuries (QE2) serves this transfer-of-debt-to-the-public process.
..."

Both great articles! The first one by James Howard Kuntsler was awesome. The way he put everything together was perfect and he touched on many topics that the MSM purposely avoid. The bit where he was talking about the guy in China wanting to borrow 60 million Yuan made me nearly fall out of my chair laughing!

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  #103 (permalink)
The fun is in the numbers
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possible correction indicated by CCI


We could see a 12-15pt correction within this uptrend tomorrow.

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  #104 (permalink)
The fun is in the numbers
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Zondor View Post

Then, when the bubble popped, the Financial Power Elites transferred the impaired assets to the taxpayers, a process which is still underway. The politicos of both parties are complicit; behind the simulacra of toothless "reforms," this process proceeds in myriad ways (Bank of America transferring toxic debt to Fannie/Freddie, etc.) Behind the smokescreen of conjuring a "wealth effect" to foster more consumption, the Fed's purchase of Treasuries (QE2) serves this transfer-of-debt-to-the-public process.
..."

It's hard to argue with the reality of this statement.

Where does that leave the individual?
Powerless with a meaningless (placebo) vote,
With political leaders who must know what we do yet continue to sell-out to corporate and power interest (politicians that are bought and paid for).

Write a letter?
Wave a placard?
("they" must just be laughing)

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  #105 (permalink)
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Happy New Year everyone! Just thought I would update the charts here live from la-la land. The ES has been happily skipping along the 10 day MA. MACD is a sleep at the wheel well above the zero line. Let's not forget the big run up today thanks to the banks continuous manipulation of their earnings statements reporting phantom income on notes that are in default and will never really receive the "interest due" as they are reporting. But I digress, from the words of Prince, "let's just party like it's 1999". But the hangover could be problematic...

Just announced today is the new POMO schedule which will goose equities for virtually every trading day this month except for January 17th. Let's forget that commodities are making new highs and our USD is getting slapped along side bonds. It's an interesting world we're living in. But remember, as painful as it may be, follow the trend. Even if you know it's being gamed...

Cheers,
PB

Attached Thumbnails
ES and the Great POMO Rally-fairydust.jpg   ES and the Great POMO Rally-bonds.jpg   ES and the Great POMO Rally-soybeans.jpg   ES and the Great POMO Rally-corn.jpg   ES and the Great POMO Rally-gold.jpg   ES and the Great POMO Rally-usd.jpg  
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  #106 (permalink)
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ok may be not today!

"
NEW YORK – The bleakest year in foreclosure crisis has only just begun.
Lenders are poised to take back more homes this year than any other since the U.S. housing meltdown began in 2006. About 5 million borrowers are at least two months behind on their mortgages and more will miss payments as they struggle with job losses and loans worth more than their home's value, industry analysts forecast.
"2011 is going to be the peak," said Rick Sharga, a senior vice president at foreclosure tracker RealtyTrac Inc.

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  #107 (permalink)
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What is really behind QE2

Dollar War in Detail | Michael Hudson

It's the USA vs everyone else, demanding that our trading partners commit financial suicide so that the banksters who own the government come out on top. Meanwhile here at home we can look forward to a 30% cut in living standards over the next few years. Great interview of Michael Hudson by Eric Janszen of iTulip.

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  #108 (permalink)
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Again, for people who are shorting this, i've included a "merged" profile of the past couple of weeks. This is a simple market profile chart... showing the volume distributions, helping you get a clearer picture of what the big money is doing....

You can clearly see the high volume bulges( high volume nodes) building in a stair-step fashion, showing price acceptance at each higher level. Its much cleaner than candle charts.

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Last edited by Michael.H; January 14th, 2011 at 02:22 AM.
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  #109 (permalink)
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Thanks Zondor, i actually enjoyed reading that. And i believe he's right. We might be heading in a horrible path within the next few years when the "shit hits the fan".

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