Archive - Mar 1, 2011 - Blog entry

Facing budget crunches, some states are looking to scrap defined-benefit plans and replace them with defined-contribution plans. But they're only making the problem worse...

This is the first in an occasional series examining the end of the American Empire and the global shock waves it will produce. Contrary to popular belief I suspect the unraveling will take place over many years, decades even, with sudden plunges and slow partial recoveries aka dead cat bounces. I call this series of examinations “End Game”.

Over the past several decades, the American economy has been slowly but surely merged into the emerging one world economic system.

Are you listening, Pentagon?

"Dear Lord Blankfein, in the name of Martha Stewart and Bishop Ivan of Boesky, please spare us the self adulatory bull shit about how the Men of G are some kind of genetically superior pedigree of low life Wall Street scum bag!"

High speed in reverse. Only one possible outcome.

Which is as ridiculous as Gaddafi trying to blame the Libyan protests on Osama Bin Laden, or al-Maliki blaming Al Qaeda for the Iraqi protests ...

We have suspended foreclosures until such time as we have substantially addressed the noted deficiencies in our processes.

This is the prototype for a set of silver coins commemorating the heroes of PONZI-USA...

Fed Kansas President Honeig recently uttered a series of absolutely INCREDIBLE remarks concerning the US Federal Reserve. He said the US has “deeply” undermined free-market capitalism and that the TBTF banks pose the “greatest” risk to the economy. This kind of aggressive is a clear indication that Hoenig has seen the writing on the wall and is distancing himself from Bernanke in order to present himself as a potential future Hawk Fed Chairman.

How about an S&P 500 down to 666? The Saudi regime falls, and 12 million barrels a day disappears from the market for the indefinite future. Unemployment hits 15%. Obama is toast. Your broker turns bearish and tells you to sell everything. Welcome to the Great Depression II. It starts raining frogs.

This morning ahead of the London session we're seeing some strong shifts in retail positioning, USDCAD, USDCHF and USDJPY have been in the strong short zone for a long while, with an unbelievable 80%+ or traders long while these pairs have been consistently selling off! On the flip side of this coin AUDUSD has entered the long zone with 61% of traders short as it nears multi year highs! GBPUSD has been consistently making higher highs and is now kissing a major resistance area at the same time 71% of traders are short this pair!

The Ontario Municipal Employees Retirement System (OMERS) has posted a 12% rate of return for 2010, up from 10.6% in 2009. But its funding deficit has tripled to $4.5-billion as its pension benefit obligations have increased.