Failure is individual, keep a bag packed.
When Will They Ever Learn? Retail sales are up 1.6% m/m and up 8.2% y/y. Where is the money coming from? Who keeps giving these people credit, and why?
Full Faith & Credit: Given current and projected levels of US debt, in Gold We Trust may be both inevitable and disillusioning. ' Fiat' is the government's way of saying take it or leave it.
A List: Most Americans see the financial system being as corrupt as the political system. They are right. The American Dream (and American's money) is being brazenly stolen in plain view on the public square. Start with the acknowledged manipulation of the gold and silver markets, as well as the prices of most commodities and futures. Include the fake and non-existent gold bars in depositories, no prosecution for thievery at the top or for cheating the customers and screwing municipalities here and abroad. Don't forget to include accountant-assisted theft, fraud and insolvency, our Ponzi's-are-US Fed and Treasury, and a usurious 29% as the normal interest rate on credit cards. We are all living on the never-never in a world that shouldn't be. But the market's up 100 points.
Fools R US: Stealing the Fed Chairman's traditional role as First Cheerleader, Treasury Secretary Geithner has announced that every day in every way everything is getting better and better , faster than expected and faster than any other developed economy. We’re number one!
Once More, With Feeling: We just finished – globally – the hottest March on record (2 data sets) or tied for the hottest (NASA data). It was the hottest first quarter according to all three sets of measurements. This is especially noteworthy because we have been in “the deepest solar minimum in nearly a century.” Of course I was paid by the world-wide conspiracy of scientists to say that.
"Materially Misleading": As it was sinking beneath the waves of mismanagement, Lehman Brothers created a company called Hudson Castle and used it to shuffle investments off its books as it collapsed. Hudson Castle pretended to be an independent entity, but it was controlled by Lehman. Hudson Castle borrowed money and then lent it to Lehman. Wonder who got to keep the profits.
Hamsters: After huffing and puffing as hard as possible, the government's efforts at resuscitating the underwater homeowner has resulted in 75% of those “helped” by programs like HAMP being still underwater. Drowning in shallower water is counted as a success.
Really Darjeeling: Just like Boston in 1773, the great unwashed are being manipulated by cries of patriotism and unfair taxation for the benefit of the rich and powerful. Once again it is the moneyed leading the ignorant toward goals they do not comprehend.
Resolution and Reform: The economists say American households are trying to reduce debt levels. But slowly. Household debt has dropped from 96% of GDP in 2007 to 94% of GDP in 2009. Sticky.
Silver Lining: If you cut out eating fruits and vegetables and stop driving your car around, your world is deflating. Even with these included, the CPI went up only a measly 0.1% in March. You can put off worrying about hyperinflation till next week.
Quoted: “The planet on which our civilization evolved no longer exists.” Bill McKribben. Read it and weep.