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Who said that?
Housing and construction are still very weak. A new wave of home foreclosures could drive down real estate values and household wealth.
Oil and gasoline prices are rising rapidly and could reignite inflation.
Major states are nearly insolvent and will be looking to raise taxes on consumers and businesses.
We face a long list of known and unknown geopolitical and national security threats that could change our economic prospects overnight.
Uncertainty among companies, lenders, and investors still abounds.
When it comes to jobs, we have a steep hill to climb.
The conventional wisdom says that no effort to address deficits will be considered until after the 2012 elections. But we can’t wait that long. Our current fiscal path leads to only one destination—insolvency.
We’ll also make the case for entitlement reform because any plan that fails to tackle these runaway programs is doomed to fail.
American children are trapped in failing schools and a third of them don’t even get a high school diploma? This is a moral outrage and a ticking social time bomb.
Who said these words? None other than the head of the U.S. Chamber of
Commerce, Thomas Donohue. I think he sums things up pretty well. I read
this stuff from the boss at the CoC and get a bit nervous. If a blogger
like me posts scary words like this it’s one thing, but this is the CoC!
The funny thing about this? Read Tom’s speech, then look at the WSJ headline.
Go figure.
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rock on bitches! http://www.youtube.com/watch?v=-_WW11YxdY0
Wsj online is on par with yahoo finance. & Newsweek was bought for a dollar, the Co. not a magazine issue.
Yahoo " Fed Survey says.. 2010 Economy ends on High Note"
It's not only us adults who have to filter out the propaganda. I have to periodically reprogram my granddaughter who gets indoctrinated by the hate America history books, and the obfuscation, half truths and outright lies contained therein.
Trying to stay relevant Bruce? Short sweet anti everything? Something for everyone..
You censor, you suck you prick.
Sincerely, JW
--at a tangent, I've been out collecting laundry, but why's the dollar being creamed? Stocks are just piddling along upside, so...
---Orly---- sounds like a nice childhood. Santa at 9 years old??
Gosh. Just a metaphor.
Truth be told, I was already smoking cigarettes. /:
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I mean, the man is just right up next to the President of the United States and you can practically see his Bilderberger paw right up the president's ass. Makes you just go...I really can't believe what I'm seeing.
Doesn't anybody see this? Hello? I can only shake my head.
Oh we all see it, the problem is when we talk about it we all saw different things. Question: Where does Soros fit into the bilderberg gang?
Seems like Soros prefers to remain an "independent contractor" and not really part of the club, though he shares many of the same elitist ideals that Kissinger, Brzezinski, et. al. share.
He's like a rogue tool who can be called upon to perform but only when the outcome feeds his ambition.
They all give me the creeps, to tell the truth.
___________
A possible bear-flag set-up has occurred on the USDJPY H1 chart. Watch the Ozzie jobs report at 1930 ET for a catalyst to the downside. The action may be pretty quick.
:D
This is all just speculation. No really, it may be speculation behind all this.
I know someone who works there. I asked him if Rupert had been in, he said "no, but if he comes around they will be lined up to kiss his ass"
No sooner does our illustrious President hire the new Chief of Staff, one William Daley, whose pedigree includes not only his recent stint at JPMorgan/Chase but also...
awww, you already knew!
the US Chamber of Commerce.
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Imagine the disillusionment! Remember when you were a kid when you were watching a puppet show in third grade and you could see the woman's sneakers sticking out from the side of the cardboard box?
You rode the bus home that day debating with yourself whether there really was a Santa Claus.
More welfare for banks and large corporations. Its all good.
I want to see him pass out on stage again. that was cool! Let's keep our fingers crossed.
I'm still amazed by the number of people I meet (not traders...REAL people) who firmly believe that the market going up is a sign that the economy is improving. While they readily admit that they have not personally experienced any improvement whatsoever, they feel sure they eventually will...because they heard it on ABCNBCCBSCNNCNBCMSNBCFOX.
Those are the moments that lead me to drink. Needless to say...I'm drinking more than usual lately.
Wow, the cognitive dissonance is so bad that even the aliens are drinking more...
And how many of those real people are the beneficiaries of the improvement? Out of curiousity, when was the Depression declared such? I am of the view that all effort is geared towards masking appearances of failure - from markets, to food stamps and unemployment benefits, jobs, housing, etc. The accounting rule changes, POMO, extended benefits, and on and on is merely masking the malaise. No one is starving (yet), but none of us (except the bulls) seem to be doing *well*. I do not think we will see a collapse of the market, or anything like that. I think all efforts will continue to mask the reality until we hit the nonlinearity in this system. Where is that point? It comes when more people are part of the welfare state than are actually doing work. Wait, I see that point in the rear view mirror....
How could they know any different? Control the input control the output. If their only input is from the MSM spin machine, the then the output is easy to control. Propaganda works, it's why it's used. People who can see through the spin and listen to their own logic and reason, and/or seek out other sources of information is rare. Get used to it because this game is still early, the rabbit hole of madness will get a hell of a lot more interesting.
Wealth effect. Pavlov would be proud!
A bit of a stretch Bruce... he did begin and end with the typical "Goldilocks" message (as expected), so I don't see how the headline is misleading.
This caught me eye though...
So, relax Tea Party fans... lots more international corporate funding on the way... and so comforting to know the cash will still be sloshing around "the trough" in the Capitol Building for "all the little piggies" to fight over (don't forget the bibs boys and girls)!
Great call, Bruce. The WSJ and the old International Herald Tribune used to be great call 'em as we see 'em newspapers with scorch the earth editorials. Now, the Journal is just part of the sell side, Madison Ave propaganda machine. The WSJ reads like a hen's magazine with cookie cutter articles, interesting titles/no substance, pandering to a mostly fictional class of women executives and investors. The WSJ never recovered from blithering idiot Bartley's experiment with affirmative action, and it's far too late now.
WSJ is just a mouthpiece for the central banks and is as horrifically biased as DailyKos or RightNation.
just got an email offer from wsj online for $79.00 plus a $20.00 gift cert from amazon. earlier, got a $52.00 yearly offer from barron's. deleted both offers.
...the headline is for the HFT computers...they are programmed to only read headlines....
Home
Damn...update from Markets entity...Too many immediacy values with too high sums in the impact, duration, and tension levels to ignore so had to stop work to extract and post the update below. Rest of the report better not be like this or it will take forever....
Extract from upcoming Shape Report: Markets entity:
As 2010 fades rapidly from sight, and mind, we note that the Markets entity is pretty much as its primary supporting descriptors would have it, a [basket (of) crises]. The [basket-case markets] set has secondary support coming from [interwoven] and [inextricably twined] which are themselves both supported at their primary levels by [bad foods] which, given its supporting sets, we are interpreting as [indigestible products]. These [indigestible (financial) products] are about to make [minions (within markets)] go into [spasms] of [violent puking]. This is indicated to be a [planet wide] level event, that in its turn brings [international grievances] and [inter country tensions] to a [visible] and [frightening] level that will be described (in the msm propaganda press) as being a [boil over] situation. The interpretation that we have about the [indigestible products] is that they fall into the category of [derivatives] in general, but specifically there are linguistics around the idea of a [gold price tied/bound] form of [derivative] that [fails] in an [instant] due to a [crisis] in the [gold/precious metals market]. This forecast is based on a lot of immediacy data value sets and so may be within days of happening, and likely will be occurring by the time that this Shape report is published.
clif
January 11, 2011
DOW's up a HUNDO!
Seriously, what difference do the facts or the truth play in this anymore. We are way way way past that point.
Bruce,
I thought for sure the hook would be that it was from like 1958 or so.
believe or not I got Orwell's 1984 just across table at home...
who knew it would happen in USA in real life
alx
I recently re-read Fahrenheit 451 when my high school age son read it for English class. Bradbury pegged it as well as anyone, as far as how vapid our society has become.
Now, my 8th grade daughter is reading Animal Farm, so I'm going to re-read that, too.
I tried listening to that on audiobook but unfortunately Bradbury read it himself. It sounds like a four hundred pound smoker that just climbed a flight of stairs. Unbearable. I will have to get the book.
I believe most people that read the book, sense that it is not that far off. One of the reasons why the book is considered so poignant.
Execution can differ materially but the core ideas (memes) are right there in the open for everyone to see if they look. Most choose not to look, but they "feel" it. Maybe that's what poignant means. You don't want to know something, you ratioanlly suppress it but it's in there.
Distort and report. Wall(Street Journal)Paper it over with a headline.
Exactly. It would be funny if the situation wasn't so bleak.
What's also missing is that the U.S. Chamber of Commerce has been solidly behind many of the moves which have gotten us into this mess, through their relentless drive to offshore jobs and other issues which have blown up in our faces. All under the misguided notion that globalization is good. Their version certainly is, but it's only good for the elites.
Wake me up when the U.S. Chamber of Commerce quits selling out America in order to make a buck off of the resulting disaster.