Tuesday, September 13, 2011

Calm Before the European Debt Storm

The Markets

An eerie calm settled over global markets on Tuesday. Maybe it was the mild late-summer weather, but most likely the dull, though uniformly positive trading sessions were not marred by any surprise announcements of China buying Italian debt or President Obama proposing another hare-brained multi-billion dollar stimulus program, and thus the machines went about their business of chasing momentum stocks into positive territory.

There actually was some somber news. It seems the 2008-and-beyond recession has yielded some stunning negatives on the American psyche. It seems, according the the Census Bureau, that the level of poverty in America has risen to its highest rate in 18 years, at 15.1 percent of all Americans, while the number of people living below the poverty line has risen to a record of 46.8 million in 2010. Both numbers are almost certain to be higher once they crunch the data from 2011.

Additionally, median household income in the United States in 2010 was $49,445, a 2.3 percent decline from the 2009 median, after adjusting for inflation.

Thank you presidents Bush and Obama, all the congresses of the past decade, rich bankers and uncaring CEOs one and all. You have succeeded in the first phase of turning a once prosperous, joyous nation into a third-world hell-hole. There's great certainty that the politicians, bankers and media will continue to pursue policies that are harmful to the lives of average Americans while at the same time denying them of basic human rights and those couched in the constitution. Please don't ever allow Rep. Ron Paul to speak during a presidential debate - all of which have been nothing more than jousting matches between two loser career politicians, Rick Perry and Mitt Romney - as he might awaken the slumbering middle class which you are going out of your way to destroy.

Of course, none of this meant anything to the wizards of Wall Street, who only see such statistics as meaning there will be more consumers for their goods and more government cheese and free money forever. Wall Streeters earn well beyond the median income. They cheat and steal even more.

These kinds of statistics are neither enjoyable to report nor meaningful in the fight against the government-banking kleptocracy because they simply don't care, have all the money at their disposal and will not change anything. Only when the monetary system finally implodes upon itself, when there are no more pigeons to fleece and no more suckers from which to take money will the government and business begin to function as intended, without interference and ridiculous taxes and entitlements.

Until then, we have Europe on our side, especially the Greeks, who openly oppose their government, willfully refusing to pay taxes and - for the most part - ignoring the doctrines and proclamations of the elitists. We should all take a lesson from them, just as their economy sinks into an inescapable indebtedness.

Dow 11,105.85, +44.73 (0.40%)
NASDAQ 2,532.15, +37.06 (1.49%)
S&P 500 1,172.87, +10.60 (0.91%)
NYSE Composite 7,109.95, +62.83 (0.89%)
NASDAQ Volume 1,943,776,750.00
NYSE Volume 4,648,729,000
Combined NYSE & NASDAQ Advance - Decline: 4865-1635
Combined NYSE & NASDAQ New highs - New lows: 25-114
WTI crude oil futures: 90.21, +2.02 (absurd)
Gold: 1833.30, +18.90
Silver: 41.01, +0.72

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