They say ‘stocks oversold’. Preposterous!

Stocks have been overbought based on bad news or nothing at all, rallying on ‘not as bad as expected’. Even if that were true (I don’t believe anything they say), who cares what the criminally insane frauds on wall street say what they expect. It’s fundamentals, economic and financial, that ultimately count; but, in the meantime, they’re like termites eating away at the nation’s foundation with lightning fast computerized trade programs, all of which excessively huge commission churn / earn revenues are a net negative for the economy in real economic terms which is evidenced by unprecedented economic decline in all productive sectors of the economy. This is a great opportunity to SELL / TAKE PROFITS since this suckers rally to suck suckers in and keep them sucked in is based on fraud and b*** s*** alone and: ‘This is a global depression. This is a secular bear market in a global depression. The past up move was a manipulated bull (s***) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’

Technical Indicators Trigger Major Sell Signal ‘…In summary, the bearish picture is confirmed by technical indicators, a fundamental outlook, sentiment gauges, and valuations.Based on what the market considered fair market valuations at prior historic market bottoms, one can conclude how far stocks have to drop to reach the previously attained level of fair valuations …’ Simon Maierhofer: ‘On Friday July 9, 2010, 4:32 pm EDT It rarely ever happens, but when it
does, it's serious. It has only happened nine times in 10 years. We are referring to crossovers between the 200-day and 50-day simple moving averages (SMAs).Very few technical indicators receive as much attention and media coverage as the 50 and 200-day SMAs. The 200-day MA is perceived to be the dividing line between a stock that is technically healthy and one that is not. It's a Big Deal It's a big deal when a stock or an index drops below the 200-day SMA. It's an even bigger deal when the 50-day SMA of any given stock or index drops below the 200-day SMA. Such a crossover reflects internal weakness - at least in theory. We'll discuss in a moment how the actual numbers match up with theoretic assumptions. On June 22, 2010, the S&P 500 (SNP: ^GSPC) and Dow Jones (DJI: ^DJI) dropped below the 200-day SMA. One day later the Nasdaq (Nasdaq: ^IXIC) followed. On July 2, 2010, the 50-day SMA for the S&P (NYSEArca: SPY - News) dropped below the 200-day SMA. On July 6, the Dow Jones (NYSEArca: DIA News) followed. As of today, the Nasdaq (Nasdaq: QQQQ - News) is barely hanging on. This sounds like a doomsday scenario. Does a rigid analysis show that there is validity to 200-day and 50-day SMA crossover buy/sell signals? Let's investigate.Crossovers - Lagging but Notable Many argue that the SMA crossover is a delayed signal that emphasizes past weakness more than it foreshadows future declines. To an extent, that is true. There are other warning signals that point to a market turn long before the SMA does. For example, on April 16, 2010, the ETF Profit Strategy Newsletter noted an extremely low put/call ratio along with other bullish sentiment extremes. The newsletter stated that 'the message conveyed by the composite bullishness is unmistakably bearish. Once prices start to fall and investors get afraid of incurring losses, the only option is to sell (due to the low put/call ratio). Selling, results in more selling. This negative

feedback loop usually results in rapidly falling prices.' Prices did fall rapidly. The 22 trading days following the April 26 high, erased eight months worth of gains. It took a 17% drop for the SMA crossover to trigger a sell signal. When the ETF Profit Strategy Newsletter issued a strong buy signal on March 2, 2009, it emphasized that the developing rally would be a counter trend rally followed by a steep decline and maintained this viewpoint even though prices kept rallying relentlessly into the April highs. The SMA crossover now expresses the possibility that even lower prices are ahead. 200 and 50-day SMA Crossovers - How Accurate? How about the SMA crossover track record? Over the past 10 years, there have been nine S&P SMA crossovers with five sell and four buy signals. We have yet to see the results of the most recent sell signal. However, of the eight previous signals, six were correct. Average gains following each signal were 14.91%. $10,000 invested according to the buy/sell recommendations given right after the first sell signal was triggered on October 30, 2000 at S&P 1,399, would be worth $24,769 today. More Than just Crossovers If it sounds too good to be true, it often is. As is the case with so many technical indicators, crossovers need to be viewed in context with other indicators. In other words, take a step back and evaluate how crossovers fit into the larger picture. The larger picture (going back to 2007) reveals that trading volume associated with market declines has been generally high, while trading volume seen during rallies has been generally low; a bearish sign. Does Wednesday's 3.13% Rally Invalidate the Sell Signal? On Wednesday, the S&P rallied 32 points or 3.13%. The Dow rallied 2.82%, while the Nasdaq rallied 3.13%. Does this mean the bull market is back on track?Since the April market top, we've seen about a handful of 2-3% bounces. All associated gains were erased within a matter of days. Chances are this time will be the same. In fact, some sort of bounce was to be expected. On July 5, the ETF Profit Strategy Newsletter stated 'considering that the S&P is butting against the 100-week SMA, lower accelerations band, 38.2% Fibonacci retracement levels, round number resistance at 1,000, and weekly s1 at 994, there is a good chance we will see some sort of a bounce develop from the 990 - 1,015 area. Weekly r1 at 1,066 and pivot at 1,063 should serve as resistance.' This bounce is in its later stages right now. What's Next? Let's revisit the larger picture. Out of the nine leading industry sectors, seven have seen their 50-day SMA cross below the 200-day SMA - financials (NYSEArca: XLF - News), technology (NYSEArca: XLK - News), consumer staples (NYSEArca: XLP - News), materials (NYSEArca: XLB - News), utilities (NYSEArca: XLU - News), energy (NYSEArca: XLE - News) and healthcare (NYSEArca: XLV - News). The consumer discretionary (NYSEArca: XLY - News) and industrial sector (NYSEArca: XLI - News) are the only holdouts. All nine sectors, however, trade below their 200-day SMA. Fundamentals, sentiment readings and valuations also point south. Some of the fundamentals we have discussed in these pages are crafty accounting practices designed to hide huge losses racked up by big financial institutions not yet realized along with a continually bad unemployment picture. Sentiment surrounding the April highs recorded extremes not seen since the 2000, 2007, and even 1987 market top. There are multiple sentiment measures (such as the VIX, cash allocation, put/call ratio, percentage of bullish/bearish advisors, mutual fund cash levels, etc.). Each sentiment measure is one piece of the puzzle. The more pieces of the puzzle you have, the clearer the picture becomes. Leading up to the April highs, nearly all sentiment indicators peaked, painting a complete bearish picture. In summary, the bearish picture is confirmed by technical indicators, a fundamental outlook, sentiment gauges, and valuations. Based on what the market considered fair market valuations at prior historic market bottoms, one can conclude how far stocks have to drop to reach the previously attained level of fair valuations. The ETF Profit Strategy Newsletter includes a detailed analysis of four valuation metrics with a track record of accuracy, along with the implied target range for an ultimate market bottom. This is provided in addition to its short, mid and long-term forecast. When the market speaks, it behooves investors to listen. Fighting the tape has often proven to be foolish, as the market will always have the final word.’

A Market Forecast That Says ‘Take Cover’ New York Times | We have entered a market decline of staggering proportions — perhaps the biggest of the last 300 years.

Commercial Real Estate Loans Extend and Pretend ‘…Courtesy of Thomson / Reuters Commercial Real Estate Loans – Extend and Pretend Community banks have commercial real estate loans where the borrower cannot make scheduled interest and principle payments. More than 50% of all FDIC-insured institutions have loan pipelines that are 80% to 100% funded. This is a measure of how banks are stuck with noncurrent assets, but they are not classified that way. Instead, community banks are giving borrowers more time to make their payments on the theory that it’s better to collect zero on some loans rather than owning the real estate that collateralizes those loans. This concept is dubbed “extend and pretend” hoping that the borrower will eventual pay the loan back. Banks in this practice are known as “Zombie Banks” as they can’t lend, can’t lure in new investors, and wait for the FDIC to knock on their doors on Friday afternoon. This strategy includes stretching out loan maturities and allowing below-market interest rates to slow the number of defaults and preserving the capital of banks that would be expended if property had to become “Other Real Estate Owned.” As a result “Loans 30 to 89 Days in Arrears” and “Noncurrent” loans are not growing as fast as they should be. The net result of these practices masks the true toxicity of the Commercial Real Estate market. It’s not just the small banks that are employing “extend and pretend” tactics. I read that the Bank of America (BAC) has extended a large real estate loan in Buckhead, Georgia the high-class area north of Atlanta. The loan finances the development of a high-end shopping and residential project in 2007 and now three years later the cranes are silent and the project is fenced in. The banking regulators are helping the banks by allowing the lenders several ways to restructure loans. While doing so the banks are allowed to keep these loans as “performing” even with collateral values below the loan amounts. Extend and pretend is also known as kicking the can down the road. It seems to me that we have wasted billions if not trillions in stimulus money and bank bailouts when this money could have been used to actually fund the completion of these projects. Such a plan would have cost tax payers much less and would have kept Americans working on Main Street USA, as finishing incompleted real estate projects are clearly “shovel ready” projects. According to Foresight Analytics banks hold $176 billion of CRE loans that could be declared toxic. This is the tip of the iceberg as the FDIC Quarterly Banking Profile shows $1.09 trillion in nonfarm nonresidential real estate loans and $418 billion in Construction & Development loans on the books of our nation’s banks. About two-thirds of the CRE loans are maturing between now and 2014, and are underwater. Commercial real estate property values are down 42% from the October 2007 peak. At the end of the first quarter 9.1% are delinquent up from 7% a year earlier. Bankers justify “extend and pretend” saying that it’s better than calling the loan and dumping more property on a depressed market. We need a stronger economy to entice new investors to resurrect projects and to find new demand for competed offices, hotels, condos etc which are the finished products of completed

CRE projects. Without a strong economic recovery these loans will eventually have to be written off down the road. The problem is that while these loans are on hold banks can’t justify new loans, which would be the engine of economic growth. And the beat goes on. Disclosure: No positions’
The following youtube video is well worth the look and explains how and why the frauds on wall street have gotten away with their devastating fraud thus far ( UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE... ‘In emotional and personal testimony, an ex-Justice official who quit over the handling of a voter intimidation case against the New Black Panther Party accused his former employer of instructing attorneys in the civil rights division to ignore cases that involve black defendants and white victims ...’ US v. AZ... Cases against Wall Street lag despite Holder’s vows to target financial fraud Washington Post | Obama has promised to hold Wall Street accountable for the meltdown. ):

‘THE OBAMA DECEPTION’ http://www.youtube.com/watch? v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext _from=PL&index=0&playnext=1 – well worth a look. While boner and barton are indeed jokes / vegetables that bespeak the single-digit approval rate for congress, obama’s failure to deliver on promises with as well, endless war spending despite defacto bankruptcy of the nation and a watered down nothing financial regulation bill for talking points but little substance, make him as big a joker. This well researched / produced video tells the real story : http://www.youtube.com/watch? v=eAaQNACwaLw&feature=PlayList&p=2EFAB57B44063742&playnext_fro m=PL&index=0&playnext=1 ‘THE OBAMA DECEPTION’ – well worth the view. Light Volume Temptations: Dave's Daily ‘Volume still matters, doesn't it? It seems not as the financial media ignores our light volume market in favor of writing bullish headlines. With hedge funds mostly sidelined according to reports posted here yesterday, the primary buyers must be trading desks on Wall Street and a handful of algo traders. It's tempting to come off the sidelines and join the fun but perhaps it's just the trap they're laying for you. A headline at Reuters read this afternoon: "Weaker Economic Views Equals Stronger 3-Year Note Sale". So, if equity markets are forwardlooking one must wonder what these few buyers are seeing beyond a short-term trade. Headline writers say its strong earnings growth that will prop markets coupled with rosy outlooks. That would have to be the case otherwise this is just a sucker's rally. As stated, volume was holiday-like light (40% below average) making it really easy for the machines to take over trading, and so they did ... ‘ Gold Rises Most in Three Weeks as Slump May Spur Jump in Demand Gold rose the most in three weeks on speculation that the lowest

prices since May will revive demand for the precious metal. Senile greenspun Says Economy May Be Undergoing a `Pause’ [The best thing that could happen in terms of a rosy outlook for the economy is for ‘no recession helicopter ben’ fed bernanke and Former federal reserve Chairman, The Senile alan greenspan to say we’re heading for a downturn (which is reality) since they’re always wrong; both in what they do and what they say.] Former federal reserve Chairman, The Senile alan greenspan said the U.S. economy may be undergoing what he called a “pause,” and that he can’t rule out the possibility of a socalled double-dip recession. Ambrose Evans-Pritchard: Legal Wrangling Could Bring Eurozone Disintegration Within Hours The plot continues to thicken at Germany’s constitutional court, a body with power of life or death over Europe’s monetary union. The Russian Bear Awakens Today most Americans consider the United States to be “the sole remaining superpower” – absolutely unparalleled economically and militarily. (7-9-10) Dow 10,198 +59 Nasdaq 2,196 +21 S&P 500 1,077 +7 [CLOSEOIL $76.09 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS $2.74 (reg. gas in LAND OF FRUITS AND NUTS $3.13 REG./ $3.31 MID-GRADE/ $3.38 PREM./ $3.72 DIESEL)/ GOLD $1,210 [video] Gold Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.03 (+47% for year 2009) PLATINUM $1,530 (+56% for year 2009) / DOLLAR= .79 EURO, 88 YEN, .66 POUND STERLING, ETC. (How low can you go - LOWER)/ 10 YR NOTE YIELD 3.06% …..… AP Business Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly Recap – Stocks / Bonds / Currencies - Domestic / International This Is a Secular Bear Market and The End of Buy and Hold … and Hope MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories On Why the Stock Market Has Rallied 3-9-10 [archived website file] Risks Lurk for ETF Investors The bull market that never was/were beyond wall street b.s. when measured in gold Property Values Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for 2010 from Seeking Alpha Contributor THE COMING MARKET CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover Current Economic / Fiscal Charts Trendsresearch.com forecast for 2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE EVER’ Must Read Economic / Financial Data This Depression is just beginning The coming depression… thecomingdepression.net MUST READ: JEREMY GRANTHAM’S QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The Next Wave of Collapse is Coming Sooner

than you think Sliding Back Into the Great Depression ABSOLUTELY, ABSURDLY, RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH, MUCH WORSE TO COME! Academics, Politicians: Pending Global Treaty Threatens Free Internet, Fundamental Rights Steve Watson | ACTA: Flagship of the growing internet censorship armada. Two Stories that Should Scare the Heck Out of You Greg Hunter | I was sitting here trying to find a way to wrap up the week and then, like a bolt of lightning, an idea hit me.Gold expert Jim Sinclair sent me this story: “Federal Budget Deficit Hits $1 Trillion For 1st 9 Months Of FY’10.” The story said, “The shortfall, reflecting $2.6 trillion in outlays for the first three quarters and $1.6 trillion in receipts, narrowed slightly compared with the same point in fiscal 2009.” So where did the “shortfall” come from? Try the more that 8 million who lost their jobs. The story went on to say, “. . . individual income and payroll tax receipts were down 4% over the nine-month period, suggesting that wages and salaries have not improved to the extent that corporate profits have.” Corporate profits have “improved” because they laid-off all those workers!! (Click here for the entire Dow Jones Newswires story) Sinclair says, “Nothing has changed. Nothing has been rescued. The can that is being kicked daily down the path is going to turn around and bite the kickers. Gold is the only insurance.” When things get bad enough, there will be more stimulus cash put into the economy and more bank bailouts. Sinclair is like legendary football quarterback Joe Montana– never bet against either of them. Academics, Politicians: Pending Global Treaty Threatens Free Internet, Fundamental Rights Over 90 academics, practitioners and public interest organizations from six continents have collectively warned that a secretive global treaty, currently being negotiated by governments of the world’s largest economies would see tight controls placed on the internet and would threaten other fundamental rights and freedoms.

Economists, Financial Experts: U.S. Is Trapped In 1932 Size Depression Following Nobel Laureate Paul Krugman’s declaration last week that the U.S. is in entering a third period of great depression, more and more economists are following suit, comparing the scale of the crisis to that of the early 1930s.

Ahmadinejad brands US world’s dictator ahead of summit David Icke onTV: Humanity’s Last Chance Infowars.com | Alex talks with writer, public speaker, and former well-known BBC television sports

presenter David Icke. As the United States Collapses, Media Worships LeBron James Infowars gives the inside scoop on basketball MVP LeBron James’ pivotal trade decision. America Is In A Societal Meltdown Chuck Baldwin | America is in the midst of a complete and total spiritual, societal, cultural, moral, and political meltdown. Obama Selects General Who Likes Killing Muslims to Centcom Kurt Nimmo | Gen. Mattis has the same habit of speaking his mind as McCrystal. The Lights Are Going Out For Free Speech On The Internet Type the keywords “Internet censorship” into Google News and you will immediately understand to what degree the world wide web is under assault from attempts by governments globally to regulate and stifle free speech. From Australia to Belarus, from Turkey to Vietnam, from Pakistan to Egypt, from Afghanistan to Iran, huge chunks of the Internet are going dark as the Chinese model of Internet regulation is adopted worldwide. [Has everybody lost their minds? Referring to the china model as something to be emulated. It’s true they are more productive than america, generally, but their business model is almost prehistoric and the direct consequence of the great american sell-out for money (the ‘pass through’ or direct) by those who’ve pledged otherwise (walmart, congress, clinton, bush, wobama, etc.). Even some of their simplest products are junk (but priced incredibly low to make the relative value) and seem to have adopted that GM strategy of planned obsolescence, breakdown, etc., to spur sales. Then there’s the communist faux capitalism paradox, suppression, oppression, etc., which has even the defacto bankrupt, pervasively corrupt, fallen america blindly following. Quite simply, their ancient business model is slave labor. As for Iran, they are a relatively small nation under collective siege.] US taxpayers’ Afghan aid money buys rich Afghans’ Dubai villas You already might have heard that it costs the United States $1 million for each solider per year in Afghanistan, to cover the cost of the soldiers’ benefits, troop transports and other materiel. Billions of dollars secreted out of Kabul Spiegel Online | Billions of dollars are being secreted out of Kabul to help well-connected Afghans buy luxury villas in Dubai and then there are the american recipients who are a bit more careful with their stash.
DRUDGEREPORT: PAPER:

Optimism on hold; Recovery economy falters... USA marks 3rd-largest, single-day debt increase... Deficit hits $1 trillion in June for second year... IMF presses US to cut debt... NSA INTERNET GRAB; SPY AGENCY SHIFTS TO DOMESTIC EAVESDROPPING...

CIVIL RIGHTS PANEL TO PURSUE FED PROBE IN BLACK PANTHER CASE... RESET: Russia slams Clinton for 'groundless' comments... Mortgage Delinquencies Rising Again as Home Prices Stay Flat... Roubini: Banks Too Big to Fail, Too Big to Bail Out... COOKED APPLE: 103... UPDATE: MORE CLAIMS OF RACE BIAS AT JUSTICE... US v. AZ... The New Civil Wars Within the West Gregory R. Copley | Internecine civil wars are underway almost everywhere within the West, and most virulently in the United States of America. On Why America’s 234th Birthday May Not Have Many More To Follow Zero Hedge | It is my firm belief that we have come to the “end of the road” for the financial system. Go to following pages for above links: http://www.albertpeia.com/currentopics2ndqtr10108.htm http://www.albertpeia.com http://www.albertpeia.com/alresume.htm http://www.albertpeia.com/wallstreetlunacy2ndqtr10108.htm You may post a comment on my blog on any topic: http://alpeiablog.blogspot.com

Iran says planes denied fuel in Germany, UK, UAE Reuters | The claim could not be independently confirmed and was met abroad by skepticism. [Europe really fell fast. They make Christians look like the dumbest people in the world, along with the likes of ie., UAE if true (and defacto bankrupt america). After all, this ‘all for israel’ mantra is contraindicated inasmuch as the hebrews deny the very foundation of the Christian religion and indeed were behind his crucifixion]. DRUDGEREPORT: Evans-Pritchard: It's Really Starting to Feel Like 1932 [Depression] ... Dow Repeats Great Depression Pattern... Investors fear risk of regional defaults... Obama: 'The great jobs killer'... Turkey, a leader of nations, wants war criminal israel apology, israel rejects demand ... Threat 'to sever ties'...

Dollar Plunges After UN Call To Ditch Greenback U.S. economy enters “total freefall” as double-dip recession looms. China's Stocks Fall to 15-Month Low on Economy, Profit Outlook China's housing prices to fall, official says Banks are Still at the Derivatives Casino (at Seeking Alpha) [video] Washington's Bungled Bank Bailout (at TheStreet.com) ECRI Weekly Leading Index Growth Lowest in 13 Months Be on the Right Side of S&P Earnings Estimate Cuts Inventory Cycle Has Run Its Course Harrison – ‘… This is the scenario I have been predicting for months now.

Double Dip Recession and the Obama 2011 Budget (February 2010): The long and short is that – come Summer – the inventory cycle’s thrust will have dissipated. And if companies are not hiring by this time and consumer spending is not increasing more robustly, then the state budgets, the strategic defaults and all of the rest of that becomes a serious obstacle. In my view, more likely than not, this will lead to another recession late in 2010 or in 2011. And nothing in the President’s budget changes this outlook. The mindset will not change; a depressionary relapse may be coming (March 2010): the inventory cycle’s impact on GDP growth will attenuate. By the second half of 2010, inventories will not add considerably to GDP. US GDP growth rate is unsustainable; recovery will fade (April 2010): The inventory cycle is already starting to fade. That means weak 1 or 2% growth at best by Q4 2010. Unless job growth picks up tremendously by the second half of the year, this recovery is in trouble.

David Rosenberg says the ISM leads jobs. And, the latest jobs numbers were weak. I would be nonplused about the recent ISM data if it weren’t for the column highlighted in red. Notice how the momentum for everything is slowing. Not just the overall index, but new orders, production and employment …’ U.S. Economy “Is a Complete Disaster” Yahoo! Finance | The U.S. economy is in shambles and Americans will continue to see high unemployment and lower living standards in the years to come. America is sinking under Obama’s towering debt I hope the White House is paying attention to the latest annual Congressional Budget Office Long-Term Budget Outlook, which offers a truly frightening picture of the scale of America’s national debt, with huge implications for the country’s future prosperity. 7.9 million jobs lost, many

forever CNNMoney | The recession killed off 7.9 million jobs. It’s increasingly likely that many will never come back. 50 Random Facts That Make You Wonder What In The World Has Happened To America The Economic Collapse | For those who still love this land (and there are a lot of us) it is heartbreaking to watch America slowly die. BP, Homeland Security, and Cops Work Together to Deny First Amendment Kurt Nimmo | BP, Homeland Security, the FBI’s Joint Terrorism Task Force, and local cops will now decide if it is acceptable for journalists to take photographs. Will G20 Police Succeed In Covering Up Reports of Rape and Torture? Infowars.com | Can authorities be allowed to cover-up the Abu-Ghraib style incarceration methods Toronto police engaged in during the G20 summit this past weekend, where women were arrested and subsequently raped by male cops? Emergency S.O.S.: America Falling to Foreign Bank Takeover – Fourth of July Alex Jones breaks down the takeover by offshore banking powers– newly empowered by Congress’ banking “reform,” expanded taxes worldwide, as well as accelerated moves towards ending the Dollar’s reserve status, including urging from a recent United Nations report. More than one-quarter don’t know who US gained independence from Every Fourth of July, Americans gather to celebrate the country’s declaration of independence from … um, what country was that again?
DRUDGEREPORT: TORN

ON FOURTH OF JULY: OBAMA DIVIDES NATION... Great Republic in parlous state -- politically, economically... YEAR 9: Petraeus in Afghanistan warns of tough mission... 'We are in this to win' … Win what? The fact of america’s defacto bankruptcy and being there IS failure no matter what they ultimately call this debacle ... Illinois Stops Paying Its Bills... Facing 'outright disaster' amid budget crisis... Turn On, Tune In...Nah, Just Drop Out … Discouraged workers at a new cycle high And small wonder. The median unemployment duration went to a new all-time high (since the 1940s, anyway, when that series begins) and shows no signs of slowing its ascent … (Chart, source Bloomberg)… YEAR 9: Petraeus in Afghanistan warns of tough mission … What mission? What plan?.What strategy? National bankruptcy?… Mission accomplished! ... NY Times’ Krugman: We Are Entering The Third Depression Recessions are common; depressions are rare. [Correction: we’re already in a

depression]. JUNE UNEMPLOYMENT 9.5%... 125,000 JOBS LOST... Rate dips as 652,000 give up search... Depressing... [That’s why they’re called depressions (just kidding … but no laughing
matter) … At this rate, with all those lost jobs and jobseekers no longer seeking those lost jobs that aren’t there, by their calculations (9.5% the bright spot … riiiiight!) we should be at full employment very soon … you can’t make this stuff up … really!].

Ron Paul: 114 Flip Flop on Audit The Fed Causing Bill to Fail 229 – 198 Ron Paul’s attempt to audit the Federal Reserve, which was previously cosponsored by 320 members of the House (HR 1207), failed by a vote of 229198. All Republicans voted in favor of the measure with 23 Democrats crossing the aisle to vote with Republicans. 122 co-sponsors of HR 1207, all Democrats, jumped ship and voted against the measure. The Future of Audit the Fed Congressman Ron Paul discusses the latest in the efforts to get a full and complete audit of the Fed as well as the future of Fed transparency. Like Congressman Paul says, we’ve accomplished a lot of good with our movement, and there’s many reasons to be optimistic for the future. Ditch the Buck! Dollar demise ‘a matter of months’ A report by the United Nations says the American dollar should be ditched as the main global reserve currency. It said that the global financial meltdown has exposed systematic weaknesses, one of which is the reliance on the greenback. G-20 is Relying on China To Drive the World Economy … But China Isn’t Looking So Hot The G-20 is apparently relying on China to drive the world economy. Middle class families face a triple whammy Edmund Conway | Falling pensions, cuts and the banking crisis will impoverish many families. GOP chairman: Afghan 'war of Obama's choosing' (AP) - Republican chairman Michael Steele drew criticism from within his own party Friday, including calls to resign, after saying the 9-year-old commitment of U.S. troops to Afghanistan was a mistaken ... [Steele is quite right and wobama and war facilitators deserve criticism; not Steele.] Pelosi: Unemployment Checks Fastest Way to Create Jobs “It creates jobs faster than almost any other initiative you can name.” [pelosi’s so ‘in over her head’, burnt out, borderline senile, etc.] Seventy million expired flu vaccines about to be incinerated as waste [government / corporate welfare / fraud] Forty million doses of H1N1 swine flu vaccine are about to go up in flames, and another 30 million will soon meet the same fate. They’ve expired, you see, and despite the CDC’s best efforts to push flu vaccines on the american people, the industry still couldn’t find a way to offload seventy million doses of a vaccine that doesn’t even work.

Israel Suspected in Bogus Claim Iran Developing Nuclear Trigger Kurt Nimmo | The bogus claim prompted a new round of support for more aggressive U.S. and European sanctions against Iran. Ron Paul: Audit The Fed Bill Fails After Former Co-Sponsors Flip-Flop | Ron Paul’s attempt to audit the Federal Reserve failed, after more than 100 former co-sponsors of the bill jumped ship and voted against the measure. Dollar Plunges After UN Call To Ditch Greenback | U.S. economy enters “total freefall”.
50 Random Facts That Make You Wonder What In The World Has Happened To America The Economic Collapse July 2, 2010 Our world is changing at a pace that is so staggering these days that it can be really hard to fully grasp the significance of what we are witnessing. Hopefully the collection of random facts below will help you to “connect the dots” just a little bit. On one level, the facts below may not seem related. However, what they all do have in common is that they show just how much the United States has fundamentally changed. Do you ever just sit back and wonder what in the world has happened to America? The truth is that the America that so many of us once loved so much has been shattered into a thousand pieces. The “land of the free and the home of the brave” has been transformed into a socialized Big Brother nanny state that is oozing with corruption and has accumulated the biggest mountain of debt in the history of the world. The greatest economic machine that the world has ever seen is falling apart before our very eyes, and even when our politicians actually try to do something right (which is quite rare) the end result is still a bunch of garbage. For those who still love this land (and there are a lot of us) it is heartbreaking to watch America slowly die. The following are 50 random facts that show just how dramatically america has changed…. #50) A new report released by the United Nations is publicly calling for the establishment of a world currency and none of the major news networks are even covering it. #49) Arnold Schwarzenegger has ordered California State Controller John Chiang to reduce state worker pay for July to the federal minimum allowed by law — $7.25 an hour for most state workers. #48) A police officer in Oklahoma recently tasered an 86-year-old disabled grandma in her bed and stepped on her oxygen hose until she couldn’t breathe because they considered her to be a “threat”. #47) In early 2009, U.S. net national savings as a percentage of GDP went negative for the first time since 1952, and it has continued its downward trend since then. #46) Corexit 9500 is so incredibly toxic that the UK’s Marine Management Organization has completely banned it, so if there was a major oil spill in the North Sea, BP would not be able to use it. And yet BP has dumped over a million gallons of dispersants such as Corexit 9500 into the Gulf of Mexico. #45) For the first time in U.S. history, more than 40 million Americans are on food stamps, and the U.S. Department of Agriculture projects that number will go up to 43 million Americans in 2011. #44) It has come out that one employee used a Federal Emergency Management Agency credit card to buy $4,318 in “Happy Birthday” gift cards. Two other FEMA officials charged the cost of 360 golf umbrellas ($9,000) to the taxpayers. #43) Researchers at the State University of New York at Buffalo received $389,000 from the U.S. government to pay 100 residents of Buffalo $45 each to record how much malt liquor they drink and how much pot they smoke each day. #42) The average duration of unemployment in the United States has risen to an all-time high. #41) The bottom 40 percent of all income earners in the United States now collectively own less than 1 percent of the nation’s wealth. #40) In the U.S., the average federal worker now earns about twice as much as the average

worker in the private sector. #39) Back in 1950 each retiree’s Social Security benefit was paid for by 16 workers. Today, each retiree’s Social Security benefit is paid for by approximately 3.3 workers. By 2025 it is projected that there will be approximately two workers for each retiree. #38) According to a U.S. Treasury Department report to Congress, the U.S. national debt will top $13.6 trillion this year and climb to an estimated $19.6 trillion by 2015. #37) The federal government actually has the gall to ask for online donations that will supposedly go towards paying off the national debt. #36) The Cactus Bug Project at the University Of Florida was allocated $325,394 in economic stimulus funds to study the mating decisions of cactus bugs. #35) A dinner cruise company in Chicago got nearly $1 million in economic stimulus funds to combat terrorism. #34) It is being reported that a 6-year-old girl from Ohio is on the “no fly” list maintained by U.S. Homeland Security. #33) During the first quarter of 2010, the total number of loans that are at least three months past due in the United States increased for the 16th consecutive quarter. #32) According to a new report, Americans spend twice as much as residents of other developed countries on healthcare, but get lower quality and far less efficiency. #31) Some experts are warning that the cost of bailing out Fannie Mae and Freddie Mac could reach as high as $1 trillion. #30) The FDA has announced that the offspring of cloned animals could be in our food supply right now and that there is nothing that they can do about it. #29) In May, sales of new homes in the United States dropped to the lowest level ever recorded. #28) In 1950, the ratio of the average executive’s paycheck to the average worker’s paycheck was about 30 to 1. Since the year 2000, that ratio has ranged between 300 to 500 to one. #27) Federal border officials recently said that Mexican drug cartels have not only set up shop on American soil, they are actually maintaining lookout bases in strategic locations in the hills of southern Arizona. #26) The U.S. government has declared some parts of Arizona off limits to U.S. citizens because of the threat of violence from Mexican drug smugglers. #25) According to the credit card repayment calculator, if you owe $6000 on a credit card with a 20 percent interest rate and only pay the minimum payment each time, it will take you 54 years to pay off that credit card. During those 54 years you will pay $26,168 in interest rate charges in addition to the $6000 in principal that you are required to pay back. #24) According to prepared testimony by Goldman Sachs Chief Operating Officer Gary Cohn, Goldman Sachs shorted roughly $615 million of the collateralized debt obligations and residential mortgage-backed securities the firm underwrote since late 2006. #23) The six biggest banks in the United States now possess assets equivalent to 60 percent of America’s gross national product. #22) Four of the biggest U.S. banks (Goldman Sachs, JPMorgan Chase, Bank of America and Citigroup) had a “perfect quarter” with zero days of trading losses during the first quarter of 2010. #21) 1.41 million Americans filed for personal bankruptcy in 2009 – a 32 percent increase over 2008. #20) BP has hired private security contractors to keep the American people away from oil cleanup sites and nobody seems to care. #19) Barack Obama is calling for a “civilian expeditionary force” to be sent to Afghanistan and Iraq to help overburdened military troops build infrastructure. #18) On June 18th, two Christians decided that they would peacefully pass out copies of the gospel of John on a public sidewalk outside a public Arab festival in Dearborn, Michigan and within 3 minutes 8 policemen surrounded them and placed them under arrest. #17) It is being reported that sales of foreclosed homes in Florida made up nearly 40 percent of all home purchases in the first part of this year. #16) During a recent interview with Larry King, former first lady Laura Bush revealed to the world that she is actually in favor of legalized gay marriage and a woman’s “right” to abortion. #15) Scientists at Columbia University are warning that the dose of radiation from the new full body security scanners going into airports all over the United States could be up to 20 times

higher than originally estimated. #14) 43 percent of Americans have less than $10,000 saved for retirement. #13) The FDIC’s deposit insurance fund now has negative 20.7 billion dollars in it, which represents a slight improvement from the end of 2009. #12) The judge that BP is pushing for to hear an estimated 200 lawsuits on the Gulf of Mexico oil disaster gets tens of thousands of dollars a year in oil royalties and is paid travel expenses to industry conferences. #11) In recent years the U.S. government has spent $2.6 million tax dollars to study the drinking habits of Chinese prostitutes and $400,000 tax dollars to pay researchers to cruise six bars in Buenos Aires, Argentina to find out why gay men engage in risky sexual behavior when drunk. #10) U.S. officials say that more than three billion dollars in cash (much of it aid money paid for by U.S. taxpayers) has been stolen by corrupt officials in Afghanistan and flown out of Kabul International Airport in recent years. #9) According to a report by the U.S. Department of Transportation’s Bureau of Transportation Statistics, the baggage check fees collected by U.S. airlines shot up 33% in the first quarter of 2010 to $769 million. #8) Three California high school students are fighting for their right to show their American patriotism - even on a Mexican holiday - after they were forced to remove their American flag Tshirts on Cinco de Mayo. #7) Right now, interest on the U.S. national debt and spending on entitlement programs like Social Security and Medicare are somewhere in the neighborhood of 10 to 15 percent of GDP. By 2080, they are projected to eat up approximately 50 percent of GDP. #6) The total of all government, corporate and consumer debt in the United States is now about 360 percent of GDP. #5) A 6-year-old girl was recently handcuffed and sent to a mental facility after throwing temper tantrums at her elementary school. #4) In Florida, students have been arrested by police for things as simple as bringing a plastic butter knife to school, throwing an eraser, and drawing a picture of a gun. #3) School officials in one town in Massachusetts are refusing to allow students to recite the Pledge of Allegiance. #2) According to one new study, approximately 21 percent of children in the United States are living below the poverty line in 2010. #1) Since 1973, more than 50 million babies have been murdered in abortion facilities across the United States.

Fed Made Taxpayers Unwitting Junk-Bond Buyers Bloomberg | So-called assets included collateralized debt obligations and mortgage-backed bonds. Dollar Plunges After UN Call To Ditch Greenback The dollar plunged today following a United Nations report which called for the greenback to be replaced as the global reserve currency by the International Monetary Fund’s special drawing rights (SDRs). National debt soars to highest level since WWII The federal debt will represent 62% of the nation’s economy by the end of this year. Dollar should be replaced as international standard, U.N. report says CNN | The dollar is an unreliable international currency and should be replaced by a more stable system, the United Nations Department of Economic and Social Affairs said. Double Dip Picking Up: Jobless Claims Spike To 472,000, On Expectations Of 455,000 Jobless claims were a disaster, coming in at 472k, on expectations of 455k. Prior was revised, surprise, surprise, higher to 459k from 457k. What is scariest is that between extended benefits and EUC, now that Congress has turned off the perpetual insurance spigot for the unemployed, dropped by -158,155 and -217,513.‘Jobless Recovery’ Myth as Banksters RAPE and ENSLAVE the Public! GET OFF YOUR KNEES! We’re told that this will be a ‘jobless recovery’ with further job losses expected before things get better. Well, if you believe that nonsense I’ve got a fantastic sundrenched beach on

the growing ice packs of Antarctica to sell you. How on earth can there be anything called a jobless recovery? The simple answer is that there can’t! Study: US media redefined torture after US started practicing it The US news media radically changed how it reported on the issue of waterboarding after it emerged that US forces had used the practice, says a new study from Harvard University. The Toronto G20 Riot Fraud: Undercover Police engaged in Purposeful Provocation Toronto is right now in the midst of a massive government / media propaganda fraud. As events unfold, it is becoming increasingly clear that the ‘Black Bloc’ are undercover police operatives engaged in purposeful provocations to eclipse and invalidate legitimate G20 citizen protest by starting a riot. Government agents have been caught doing this before in Canada.

Obama Calls for Pentagon “Civilian Component” [Wow! Sounds like a plan … riiiiight!] Kurt Nimmo | Obama wants to send civilians to the occupation zones in Iraq and Afghanistan. Drudgereport: JUNE UNEMPLOYMENT 9.5%... 125,000 JOBS LOST... Rate dips as 652,000 give up search... Depressing... [That’s why they’re called depressions (just kidding … but no laughing
matter) … At this rate, with all those lost jobs and jobseekers no longer seeking those lost jobs that aren’t there, by their calculations (9.5% the bright spot … riiiiight!) we should be at full employment very soon … you can’t make this stuff up … really!].

New jobless claims rise [again]... 'Surprise'... Pending home sales plunge record 30%... Weak economic data suggest 'recovery' fizzling... Fears mount over slowing global demand... UN committee calls for dumping US dollar... YEAR 9: Petraeus in Afghanistan warns of tough mission … What mission? What plan?.What strategy? National bankruptcy?… Mission accomplished! ... Six Months to Go Until the Largest Tax Hikes in History...
SIX MONTHS TO GO UNTIL THE LARGEST TAX HIKES IN HISTORY From Ryan Ellis on Thursday, July 1, 2010 4:15 PM Read more: http://www.atr.org/six-months-untilbr-largest-tax-hikes-a5171##ixzz0sVN5aBH3 In just six months, the largest tax hikes in the history of America will take effect. They will hit families and small businesses in three great waves on January 1, 2011: First Wave: Expiration of 2001 and 2003 Tax Relief In 2001 and 2003, the GOP Congress enacted several tax cuts for investors, small business owners, and families. These will all expire on January 1, 2011: Personal income tax rates will rise. The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which two-thirds of small business profits are taxed). The lowest rate will

rise from 10 to 15 percent. All the rates in between will also rise. Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates. The full list of marginal rate hikes is below: - The 10% bracket rises to an expanded 15% - The 25% bracket rises to 28% - The 28% bracket rises to 31% - The 33% bracket rises to 36% - The 35% bracket rises to 39.6% Higher taxes on marriage and family. The “marriage penalty” (narrower tax brackets for married couples) will return from the first dollar of income. The child tax credit will be cut in half from $1000 to $500 per child. The standard deduction will no longer be doubled for married couples relative to the single level. The dependent care and adoption tax credits will be cut. The return of the Death Tax. This year, there is no death tax. For those dying on or after January 1 2011, there is a 55 percent top death tax rate on estates over $1 million. A person leaving behind two homes and a retirement account could easily pass along a death tax bill to their loved ones. Higher tax rates on savers and investors. The capital gains tax will rise from 15 percent this year to 20 percent in 2011. The dividends tax will rise from 15 percent this year to 39.6 percent in 2011. These rates will rise another 3.8 percent in 2013. Second Wave: Obamacare There are over twenty new or higher taxes in Obamacare. Several will first go into effect on January 1, 2011. They include: The “Medicine Cabinet Tax” Thanks to Obamacare, Americans will no longer be able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin). The “Special Needs Kids Tax” This provision of Obamacare imposes a cap on flexible spending accounts (FSAs) of $2500 (Currently, there is no federal government limit). There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children. There are thousands of families with special needs children in the United States, and many of them use FSAs to pay for special needs education. Tuition rates at one leading school that teaches special needs children in Washington, D.C. (National Child Research Center) can easily exceed $14,000 per year. Under tax rules, FSA dollars can be used to pay for this type of special needs education. The HSA Withdrawal Tax Hike. This provision of Obamacare increases the additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent. Third Wave: The Alternative Minimum Tax and Employer Tax Hikes When Americans prepare to file their tax returns in January of 2011, they’ll be in for a nasty surprise—the AMT won’t be held harmless, and many tax relief provisions will have expired. The major items include: The AMT will ensnare over 28 million families, up from 4 million last year. According to the left-leaning Tax Policy Center, Congress’ failure to index the AMT will lead to an explosion of AMT taxpaying families—rising from 4 million last year to 28.5 million. These families will have to calculate their tax burdens twice, and pay taxes at the higher level. The AMT was created in

1969 to ensnare a handful of taxpayers. Small business expensing will be slashed and 50% expensing will disappear. Small businesses can normally expense (rather than slowly-deduct, or “depreciate”) equipment purchases up to $250,000. This will be cut all the way down to $25,000. Larger businesses can expense half of their purchases of equipment. In January of 2011, all of it will have to be “depreciated.” Taxes will be raised on all types of businesses. There are literally scores of tax hikes on business that will take place. The biggest is the loss of the “research and experimentation tax credit,” but there are many, many others. Combining high marginal tax rates with the loss of this tax relief will cost jobs. Tax Benefits for Education and Teaching Reduced. The deduction for tuition and fees will not be available. Tax credits for education will be limited. Teachers will no longer be able to deduct classroom expenses. Coverdell Education Savings Accounts will be cut. Employer-provided educational assistance is curtailed. The student loan interest deduction will be disallowed for hundreds of thousands of families. Charitable Contributions from IRAs no longer allowed. Under current law, a retired person with an IRA can contribute up to $100,000 per year directly to a charity from their IRA. This contribution also counts toward an annual “required minimum distribution.” This ability will no longer be there. Read more: http://www.atr.org/six-months-untilbr-largest-tax-hikes-a5171##ixzz0sVMwYIhK

Investors get more gloomy & bearish We just had a very difficult three month stretch for stocks. The S&P 500 fell 12% for the quarter as did NASDAQ. The Shanghai Composite, China’s largest stock index, fell 22.9 in its local currency, the yuan. The MSCI EAFE Index (foreign stocks) was down 14%. Given the negative news, it is not surprising that investors are becoming more bearish on stocks. This chart from Bespoke is based on the weekly Investors Intelligence survey, which is getting close to levels from a year ago. This is not close the peak we reached in early 2009, but the mood is definitely more negative now: [chart]

Double Dip on the Way There were many events contributing to yesterday’s sell-off, and the most likely culprits around the globe included more protests in Greece, continued to concerns about Europe at large, and a downward revision (due to a calculation error) of a leading economic indicator reading in China for the month of April. But when it comes down to it, our own economy has yet to stand on solid ground. While the recovery has continued to be shaky at best, recent economic readings may be pointing to a double dip recession. Yesterday’s batch of economic data seemed to be confirming that, as it brought a very dismal reading on consumer confidence. June’s number stood at 52.9, far below expectations of 62.5, and pointing to the consumers’ weariness about the job market, and economic recovery in general. To go further, the previous reading for May was revised downward, to 62.7 from 63.3. But the drop from May to June really sends the message home: we’re not out of the woods yet. Earlier in the week, we saw personal savings rates rise again, even while personal income growth was meager. Americans, despite bringing home a little more cash, continued to save more for the expected rainy days, and have yet to return to their spendthrift ways. After yesterday’s precipitous selling, one would expect to see a bit of a bounce in today’s trading session. That wasn’t the case, however, as more weak data continued to dampen economic hopes. Today’s culprit was the ADP private

sector job report. The report stated that private payroll gains were muted in June, with only 13,000 jobs added – far less than the 60,000 expected by economists. While May’s reading was revised slightly upwards (to 57,000 hires from previously reported 55,000), today’s release does not bode well for the much anticipated report from the Bureau of Labor Statistics due out on Friday. The non-farms payroll survey includes government workers and has been inflated in recent months due to hiring for the 2010 Census … [chart] …The June report, however, will reflect many of those workers being laid off in the past month. In May, 431,000 jobs were added, but without support from temporary government hires, economists are predicting job losses in June. Last week, consensus estimates were for a loss of 70,000 jobs for the month. By yesterday, those estimates were downgraded further, to 110,000. With the help of today’s ADP report, expectations have continued to fall: economists now expect a reading of negative 125,000 …

Barron's: Why the Market Will Keep Sliding Perry D- Barron's has a nice summary of what the future may hold in its "Up and Down Wall Street." It summarizes as well as anything I've read recently where we're likely headed. Bugging the (stock) market is the increasingly obvious disparity between what the Street's incorrigible cheerleaders see and prophesy and what's actually happening in the real world...The double dip in housing may or may not be a template of what's in store for the economy as a whole. But at the very least, it is a precursor of other serious disappointments destined to feed the unease among the jittery populace, which most emphatically includes investors. It cites the predictions of SDK Captial's Dee Kessler: --the massive fiscal and monetary stimulus so liberally applied in 2008-2009 is starting to run out of steam, with financial conditions tightening and leading economic indicators pointing to a stretch of "anemic activity." --"structural headwinds," such as public and private deleveraging, higher taxes, greater regulation and trade tensions. --the well-publicized woes of the European bloc, which accounts for 20% of the world's GDP, as further evidence that the global economy, as he puts it, is downshifting. --The period of easy comparisons in corporate results, he says, is coming to a close, --"Although the fundamentals in the U.S., Europe and Japan are worse," Dee spots plenty of downside in emerging markets and doesn't fancy the notion of decoupling. --Come another financial crisis, "the only policy response left will be to print money." Which, of course, is what the gold bugs are counting on and why bullion has glistened so brightly. That about sums up the outlook. The nice insight here is that anxiety over future economic malaise -- and the additional money printing that'll be done to mask it -- might be a bigger factor than current inflationary pressure behind the surge in gold prices. In other words, for the deflation-believers: deflation today? Perhaps. But big-time inflation tomorrow. Disclosure: No positions

NY Times’ Krugman: We Are Entering The Third Depression Recessions are common; depressions are rare. [Correction: we’re already in a depression]. Stocks: Once More Up, Then the Big Down Smith -The ingredients for a classic head and shoulders topping pattern in the stock market are all present. That suggests one more rise and then a massive grinding move down to 2009 lows. Officially, of course, everything's peachy with the economy. Europe is fixed, China is booming, consumer confidence is rising, and we are encouraged to resume our borrow and spend ways as the economy will not "double-dip" into recession. The economy will not slide into another recession, we are reassured constantly, even though roughly 80% of Americans don't think we ever left the recessionary quicksand. Please see "Two Scoop Special": Double-Dip Recession Guaranteed (May 21, 2010) for more … Exactly what drivers are there for future gains in corporate profits? I can't think of any, short of Martians landing and going on a shopping spree with gold they manufacture in their spacecraft. On the negative side, we have: 1. The rising dollar is a huge headwind to sales in the eurozone and elsewhere. 2. The low-hanging fruit of pushing the workforce to produce more output for the same salary/wages have all been picked. 3. The inventory build-out is done for everything but the iPhone 4 and iPad. 4. So-called "fiscal austerity" (when did living within one's means become some sort of brutual "austerity"? Talk abour propaganda!) in the eurozone and U.S. states will remove tens of billions of dollars from corporate sales. 5. Global overcapacity is alive and well. There is overcapacity in everything manufactured except the iPhone 4, and that will be in glut by 2011 as well. 6. Uncle Sam is not distributing trillions of dollars quite as freely. There seems to be some glimmer of awareness that there could be consequences of squandering trillions of borrowed dollars on essentially worthless projects such as occupying Iraq, inflating the housing market by socializing the entire mortgage market, propping up Fannie Mae, Freddie Mac and FHA, etc. 7. Housing is rolling over now that the socialized mortgage market has been tentatively allowed to go off life-support (it is wheezing and turning blue in the face, not signs of vibrant health). 8. There is no pricing power anywhere once stimulus-goosed demand declines to organic demand (flat to down) …

Inflation, Deflation or Hyperinflation? (Part 2) (There are charts, but no matter what the scenario posited, this time the territory’s uncharted, and the debacle / crisis like no other owing to the advent of computerization will have enabled an obfuscating tool of unprecedented proportion [worthless paper, huge frauds as already extant], and a two-edged sword in the most negative sense prospectively) GREECE UNDER NEWS BLACKOUT: Here’s How An Eyewitness Describes Today’s Riots There are reports this morning of violent protests/riots in Greece, once again. Here’s how a source on the ground describes the situation. Target Tehran? Israel, US ‘prepare to attack Iran’ Reports are circulating that the U.S is amassing a greater military presence in the Middle East. The alleged build up is also rumoured to involve the Israeli use of Saudi Arabian air space. It’s thought by some to be in preparation for an attack on Iran. Kucinich: ‘We are losing our nation to lies about the necessity of war’ In Afghanistan,

corruption is rife. It is so abundant, in fact, that a senior US lawmaker declared on Monday that she’d be freezing $3.9 billion in Afghan aid dollars until the situation is addressed. Turkey bans Israeli military flight from its airspace as freeze deepens Turkey has banned an Israeli military flight from its airspace in apparent retaliation for Israel’s interception of the Free Gaza flotilla last month, in which nine pro-Palestinian Turkish activists were killed. Iran nuclear scientist Shahram Amiri 'flees US captors' BBC News - A man who says he is an Iranian nuclear scientist claims to have escaped after being abducted by US agents. In a video shown on Iranian state TV, he says he has escaped in the US state of Virginia and is now on the run. Missing Iran scientist says he escaped US agents: report Reuters Turkey Asks Iran to Return to Table Wall Street Journal Momentum Book Update: The Market Is a Mess and the Long Bond Is About to Break Out … Not only do us swing traders have to fight the urge to chase price action up, but lay off the keyboard trying to catch falling knives in the relative strength stocks which are holding up. If you tried to buy support in your favorite names this week, you got your hands cut up. I’ll continue to rely on the understanding of my own emotions as they have served me well. When we opened higher on Monday morning I knew I was in the right place, cash, as the market was just way overbought. If you bought most relative strength names last week, by the end of this week you were well underwater. So where do we go from here? I’ve got no clue, the market is a mess, the charts are a mess, and the long bond is about to break out. If that happens all bets are off, we could see an “event”. If the smart money is lining up at the exits and moving into bonds, there’s a good chance they see something coming down the pipe …
SUITING UP FOR A POST-DOLLAR WORLD John Browne ‘The global financial crisis is playing out like a slow-moving, highly predicable stage play. In the current scene, Western governments are caught between the demands of entitled welfare beneficiaries and the anxiety of bondholders who fear they will be stuck with the bill. As the crisis reaches an apex, prime ministers and presidents are forced into a Sophie's choice between social unrest and bankruptcy. But with the "Club Med" economies set to fall like dominoes, the US Treasury market is not yet acting the role we would have anticipated. Our argument has always been that the US benefits from its reserve-currency status, allowing it to accumulate unsustainable debts for an unusually long period without the immediate repercussions of inflation or higher borrowing costs. But this false sense of security may be setting us up for a truly monumental crash. There is fresh evidence that time is running out for the dollar-centric global monetary order. In fact, central banks outside the US are already making swift and discrete preparation for a post-dollar era.To begin, the People's Bank of China has just this week decided to permit a wider trading range between the yuan and the dollar. This is the first step toward ending the infernal yuan-dollar peg. While the impetus behind this abrupt change remains a mystery, I have a sneaking suspicion that, as my colleague Neeraj Chaudhary explained in his commentary last week, the nationwide labor strikes were a prime motivator. In response to the 2008 credit crunch, the Fed printed so many dollars that the People's Bank of China was forced to drive Chinese inflation into double digits to maintain the peg. The pain has fallen on China's workers,

who have seen their wages stagnate while prices for everything from milk to apartments have skyrocketed. This week's move indicates that, regardless of its own policy motives, the Communist Party can no longer afford to keep pace with the dollar's devaluation. The result will be a shift in wealth from America to China, which may trigger a long-anticipated run on the dollar, while creating investment opportunities in China. Just days before China's announcement, Russian President Dmitry Medvedev rattled his monetary sabre by telling the press of his intention to lead the world toward a new monetary order based on a broad basket of currencies. Giving strength to his claim, the Central Bank of Russia announced that it would be adding Canadian and Australian dollars to its reserves for the first time. Analysts suggest that the IMF may follow suit. While Russia floats in the limbo between hopeless kleptocracy and emerging economy, it does possess vast natural resources and a toe-hold in both Europe and Asia. In other words, it will be a strategically important partner for China as it tries to cast off dollar hegemony. Speaking of Europe, the major powers there are moving toward a post-dollar world by rejecting President Obama's calls to jump on America's debt grenade. The prescriptions coming from Washington translate loosely to: our airship is on fire, so why don't you light a candle under yours so that we may crash and burn together. Given that dollar strength is largely seen as a function of euro weakness (as Andrew Schiff discussed in our most recent newsletter, debt troubles in the eurozone's fringe economies have created a distorted confidence in the greenback. However, as you might imagine, Europe has higher priorities than being America's fall guy. Led by an ever-bolder Germany, the European states are wisely choosing not to throw themselves on our funeral pyre, but to wisely clean house in anticipation of China's rise. In another ominous sign for the dollar, the Financial Times reported Wednesday that after two decades as net sellers of gold, foreign central banks have now become net buyers. What's more, more than half of central bank officials surveyed by UBS didn't think the dollar would be the world's reserve in 2035. Among the predicted replacements were Asian currencies and the euro, but - by far - the favorite was gold. This is supported by Monday's revelation by the Saudi central bank that it had covertly doubled its gold reserves, just about a year after China made a similar admission. There is no reason to assume these are isolated incidents, or that the covert trade of dollars for gold doesn't continue. To the contrary, this is compelling evidence that foreign governments are outwardly supporting the status quo while quietly preparing for the dollar's almost-inevitable devaluation. What people like Paul Krugman believe to be a return to medieval economics may, in fact, be the wave of the future. In peacetime, hardened troops will likely tolerate a blowhard general for an extended period; but when the artillery opens up with live ordnance, an ineffectual leader risks rapid demotion. The newspapers are now riddled with hints that foreign governments have lost faith in Washington and the dollar reserve system. It seems to me only natural that after a century of war, inflation, and socialism, the next hundred years would belong to those people who hold the timeless values of hard money and fiscal prudence. Unfortunately, our policymakers are not those people.’

China's Hu Jintao Says Group of 20 Must Coordinate to Consolidate Recovery Bloomberg … How about the G195 countries in the world collectively be considered in this task of coordination owing to the abject failure of the so-called G20 which have in lockstep coordination precipitated this global crisis including the war mongering, war criminal acts of the so-called nato allies et als, particularly the u.s., and as well the likes of war criminal nation israel which have never avoided a contraindicated, anti-recovery war / conflict they could contrive / rationalize. The so-called G7, 8, 9, 20, etc., are a pathetic bunch of incompetent vegetables / jokers / showmen / clowns.

One of those … Daaaaah! Moments … Panetta says Afghan progress slower than expected Los Angeles Times - Days after President Obama installed a new US military commander in Afghanistan, CIA Director Leon E. Panetta conceded Sunday that progress in the war has been "harder" and "slower than I think ... Panetta says Afghan insurgents show no real interest in reconciliation talks Washington Post CIA Retains Controversial Security Firm in Afghanistan Wall Street Journal CIA: AFGHAN PROGRESS 'SLOWER' THAN ANTICIPATED… Daaaaah! ... New York Times reporter calls Zionist terrorism ‘romantic’ A little-noticed comment in a New York Times interview with Israeli opposition leader Tzipi Livni has critics arguing that it shows the media has a “double standard” when it comes to terrorism. States of Crisis for 46 Governments Facing Greek-Style Deficits Californians don’t see much evidence that the worst economic contraction since the Great Depression is coming to an end. Unemployment was 12.4 percent in May, 2.7 percentage points higher than the national rate. Evans-Pritchard Announces Fed Contemplating $5 Trillion QE Expansion In his latest column, the Daily Telegraph’s A. Evans-Pritchard does a good job of recapping all the various reasons why Bernanke has now completely cornered himself, and facing a newly collapsing economy, is left with just one recourse: the printing of more, more, more paper. History Tells US The Euro Will Not Survive, Greece Will Get Worse, And There Will Be A Trade Shock With the PBoC’s currency announcement last Saturday and the surge (!) in the value of RMB on Monday (all very kindly timed to add zest to my meetings this week in Boston, New York, and Washington), you would assume that today’s entry would be all about the RMB and the effect of the PBoC announcement.

The following is really the quintessential question and issue, particularly in light of america’s defacto bankruptcy and international law; but paramount humanitarian concerns alone would militate against america’s current misguided course. Is Petraeus McChrystal’s Replacement or Obama’s? Paul Craig Roberts | All of this drama is playing out despite the continuing lack of any valid reason for the american invasions of Iraq and Afghanistan. Obama Can Shut Down Internet For 4 Months Under New Emergency Powers President Obama will be handed the power to shut down the Internet for at least four months without Congressional oversight if the Senate votes for the infamous Internet ‘kill switch’ bill, which was

approved by a key Senate committee yesterday Congressman Rohrabacher: Almost All House Republicans Think Iraq War Illegal, Immoral Andrew Napolitano’s new Saturday show on the Fox Business Network is set to send shock waves through the political establishment this weekend when his guest – Republican Congressman Dana Rohrabacher – reveals that almost all House Republicans now believe that the invasion of Iraq was not only a mistake, but also illegal and immoral. New Financial Overhaul Gives Government Broad New Powers To Seize Financial Firms The government would have broad new powers to seize and wind down large, failing financial firms and to oversee the $600 trillion derivatives market. Israeli Leaders Sued in Belgium for War Crimes U.N. confirms rise in violence in Afghanistan Obama Can Shut Down Internet For 4 Months Under New Emergency Powers Food & Depopulation: Scams and Solutions Cassandra Anderson | Beware of all NGOs and so-called “non-profit” organizations. Congress Votes to Impose Embargo On Iran Infowars.com | Congress believes more punitive measures are required in order to punish the Islamic state. G20: Activists Arrested, Denied Entry into Canada Kurt Nimmo | Charlie Veitch of The Love Police arrested, Luke Rudkowski and fellow activists denied entry in New York. Israeli Leaders Sued in Belgium for War Crimes Former Prime Minister Ehud Olmert, Israeli opposition leader Tzipi Livni and Defense Minister Ehud Barak were among those charged with war crimes committed during the Gaza war in the winter of 2008-09, the French daily Le Monde reported. Congress OKs sanctions on Iran’s energy, banks Congress on Thursday approved tough new unilateral sanctions aimed at squeezing Iran’s energy and banking sectors, which could also hurt companies from other countries doing business with Tehran. Cybersecurity Measures Will Mandate Government “ID Tokens” To Use The Internet The move to shut down and regulate the Internet, the only source of uncensored news and truth, under a new governmentcontrolled system has accelerated into high gear with the announcement that the government’s cybersecurity strategy revolves around issuing Internet users with ID “tokens” without which they will not be able to visit websites, the latest salvo against web freedom which, in combination with Senator Joe Lieberman’s ‘kill switch’ bill, will serve to eviscerate the free Internet as we know it. Turkey, the World Leader of Nations, bans israeli military flight from its airspace as freeze deepens The Guardian -Turkey has banned an israeli military flight from its airspace in apparent retaliation for Israel's interception of the Free Gaza flotilla last month, in which nine

pro-Palestinian Turkish activists were killed. Turkey restricts israeli use of airspace CNN International Turkey bars israeli planes ABC Online netanayahu rules out apology to Turkey over deadly raid (AFP)

G-8 ‘fully believes’ Israel will attack Iran, says Italy PM Haaretz | World leaders “believe absolutely” that Israel may decide to take military action against Iran. Britain will not defeat Taliban and should open talks, says head of Army London Telegraph | Britain and its allies will not defeat the Taliban with military force and should soon open peace talks with insurgents in Afghanistan, the head of the Army said yesterday. 3 SIGNS OF A SUCKER RALLY Simon Maierhofer ‘ … AFTER EXAMINING TECHNICAL EVIDENCE, SENTIMENT INDICATORS AND VARIOUS VALUATION METRICS, IT BECOMES OBVIOUS THAT THE RECENT BOUNCE PROVIDES A SELLING, NOT BUYING OPPORTUNITY ...’ Russell: This Is One Of The Largest Tops In Stock Market History Richard Russell has grown very vocally bearish in recent months. Earlier this year, Russell warned that the stock market was once again becoming grossly overvalued despite its relentless new highs. Pragmatic Capitalism June 24, 2010 Richard Russell has grown very vocally bearish in recent months. Earlier this year, Russell warned that the stock market was once again becoming grossly overvalued despite its relentless new highs. He has maintained that the bear market never ended and that the world is far too indebted to exit the bear market. He also believes the bear will not end until all fiat currencies have failed. Although I disagree with him on many aspects of the micro I agree with his larger macro outlook. This bear market is not over. The secular bear market lives on. Mr. Russell thinks we might be on the verge of a terrible collapse: “We’re now in the process of building one of the largest tops in stock market history. The result, I think, will be the most disastrous bear market since the ‘30s, and maybe worse. Question: “What could possibly be behind such a bear market?” you ask. “The stock market is stirring up optimism on a weekly, if not daily basis, by not falling apart.” Answer: This is the “rest” or “dead zone” I was talking about. Bear markets don’t conclude in a day, a week or a month. Months will go by, often adding to the bulls’ optimism.I think the key element behind this great bear market will be the complete destruction of all fiat currencies. This has been a long time coming. Fiat currencies are “wealth” created by man. They are created without sacrifice, without labor, without risk, and without sweat. Basically they are an immoral

device, created by secretive bankers. If you watch the figures carefully, you’ll note the subtle deterioration. For instance, the advance-decline ratio, although up slightly for the week, had a relatively weak performance with the Dow up several hundred points over the course of the week. And we broke the trendline in May (see the chart below showing the cumulative advance-decline line for NYSE Common Stock only, which is what we publish in our figures (courtesy of DecisionPoint — www.decisionpoint.com). The vertical lines are Jan 2008, Jan 2009 and Jan 2010 as you move to the right on the chart. [CHART] My old friend, Bob Prechter, is talking about Dow 400. I used to think this was an absurd joke. I no longer think it’s a joke. The ultimate result will be a primary bear market shocking in duration and extent. …’ Reports: IAF Landed at Saudi Base, US Troops near Iran Border Arutz Sheva | The Israeli Air Force recently unloaded military equipment at a Saudi Arabia base, a semi-official Iranian news agency claimed Wednesday. It’s time for the world to take a close look at the despotic, totalitarian regime that presently exists for the grandeur and wealth of a few while hiding behind Islam as they betray same and Muslims everywhere. The time has come for regime change in Saudi Arabia to yield a nation of and for the people of Saudi Arabia and the glory of Islam.

[It should be noted, and there have been a multitude of other instances, that I’m getting substantial ‘attacks’ vis-à-vis my internet connection which has slowed dramatically these posts. I don’t think the interference is either accidental or just coincidental but consistent with that similarly experienced by critics of corrupt defacto bankrupt america of which I am one and not alone in that regard – slowing, militating against the devastating truth about america. It should be noted that yet another attempt by the criminal american government and related partners in crime to silence an unwavering critic (to really understand america is to not be able to stand pervasively corrupt and defacto bankrupt america and her failed criminal cohort nations / lapdogs, ie., uk, eu, israel, etc.), in contravention of first amendment rights / protections, and as in the RICO case [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpe naltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ] to cover up substantial crimes in which the government was / is also involved. Some delays but a work-around is in progress. I won’t forget this and a price will be paid, as continues to be true. (6-22-10)THE WORK-AROUND-IN-PROGRESS I ALLUDED TO IS NOW FOR THE

MOST PART SUCCESSFULLY COMPLETED BY WAY OF A DSL CONNECTION AND A DELL COMPUTER.] Cases against Wall Street lag despite Holder’s vows to target financial fraud Washington Post | Obama has promised to hold Wall Street accountable for the meltdown. Drudgereport: States Take Aim at Pension Costs... ...Bank failure pace more than double last year REPORT: Madoff tells cellmates of $9 billion stash... they all have them … Cases against Wall Street lag despite Holder’s vows to target financial fraud THOMAS SOWELL: Is USA Now On Slippery Slope To Tyranny? China To Overtake USA In Manufacturing FT | The US remained the world’s biggest manufacturing nation by output last year, but is poised to relinquish this slot in 2011 to China – thus ending a 110-year run as the number one country in factory production. Housing Double Dip Accelerates As Existing Home Sales Plunge -2.2% In May Versus 6.0% Consensus, Down From 8% In April When will the SEC prosecute for market rigging? Michael Schmidt | Are the large gold bullion banks working in collusion with the US Federal Reserve to artificially torpedo the key rival to US dollar hegemony? China To Overtake USA In Manufacturing FT | The US remained the world’s biggest manufacturing nation by output last year, but is poised to relinquish this slot in 2011 to China – thus ending a 110-year run as the number one country in factory production. Connecticut vegetable lieberman: China Can Shut Down The Internet, Why Can’t We … (great logic from a totalitarian zionist)? Senator joe Zelig the zionist israeli lieberman, co-author of a bill that would give President Obama a ‘kill switch’ to shut down parts of the Internet, attempted to reassure CNN viewers yesterday that concerns about the government regulating free speech on the web were overblown, but he only stoked more alarm by citing China, a country that censors all online dissent against the state, as the model to which American should compare itself. Mexican drug cartel threatens to harm U.S. police officers who bust drug shipments while off-duty New York Daily News | Mexican cartels added a new twist to the drug war this week by threatening to kill U.S. cops who seize their goods. Former Israeli top spy calls for strike on Iran Israel should launch a pre-emptive strike to prevent arch-foe Iran from going nuclear, a former head of Israel’s Mossad intelligence agency said on Monday. Israel’s Planned Attack on Iran from Caucasus Base A week ago, Israel leaked to the press that they had permission

from Saudi Arabia to use their air space to attack Iran. The Saudi’s quickly denied this. $34 Billion Asset Manager Says Market Prices Are Manipulated, Accuses NYSE Of Intellectual Property Theft, Debunks HFT “Liquidity Provider” Lies Soros Says ‘We Have Just Entered Act II’ of Crisis Bloomberg | Soros said the current situation in the world economy is “eerily” reminiscent of the 1930s. Gerald Celente: U.S. Financial Markets to Collapse by End of 2010 Infowars.com | Gerald Celente is a renowned trend forecaster, publisher of the Trends Journal, business consultant and author who makes predictions about the global financial markets and other events of historical importance. Jobless Claims in U.S. Decreased Last Week to 456,000 Bloomberg | More Americans than anticipated filed applications for unemployment benefits last week. Market Outlook: Bearish Background to Bullish Storyline Sean Hannon: ‘The last two weekly market commentaries have discussed how the underlying trend of the market is now bearish and all rallies should be used to sell stocks and reduce risks. With nearly every news outlet spouting the bullish storyline, these articles served as an outline of a disciplined investment strategy. Those who followed the outline have done well as the Dow Jones Industrial Average (Dow), S&P 500, and NASDAQ each declined over 5% since my initial warning. With the Dow still stuck below the psychologically important 10,000 level and all three major U.S. markets trading beneath their 200-day moving averages (MA), the bearish backdrop is clear. Even if many are still looking for a rally, we should understand that the primary trend is lower. Instead of focusing on how high prices will rally, we should instead consider how much further prices can fall …’ Greek Default Seen by Almost 75% in Poll Doubtful About Trichet Global investors have little confidence in Europe’s efforts to contain its debt crisis or in European Central Bank President Jean-Claude Trichet, with 73 percent calling a default by Greece likely. 12 Reasons Why The U.S. Housing Crash Is Far From Over Over the past several months, many in the mainstream media have hailed the slight improvement in the U.S. real estate market as a “housing recovery”. US Needs Austerity Too: Hedge Fund Strategist The United States will have to adopt austerity measures similar to the ones taken in Europe, because the problems faced are largely the same, Timothy Scala, macro-strategist at Sophis Investments, told CNBC.com. Market Analyst: ‘BP’s Not Going to Last as a Company More Than a Matter of Months’ We’ve heard politicians, even conservative Republicans, suggest BP would be held completely responsible for the

devastation caused by the oil spill plaguing the Gulf of Mexico, even if it means its very existence. Israeli Official Threatens to Kill Turkish PM Kurt Nimmo | It is unprecedented for a top level state official to threaten a head of another state with murder. US Media Terrified Of Mentioning USS Liberty Do you know that an american naval vessel was attacked by israel in international waters, 43 years ago today, resulting in the deaths of dozens of american sailors Arab lawmaker on flotilla sparks outrage in israel (AP) - An Israeli-Arab lawmaker's decision to join hundreds of activists on a pro-Palestinian flotilla has elevated her from relative political obscurity, transforming her into the poster child for the ... Why To Question the 2010 Stock Market Rally [Why To Question the 2010 Stock Market Rally – Web Site Archived with Charts Click Here - In the past year, we've written a lot about the similarity between the rally of early 1930 and the one we had through April of this year. The early 1930 rally came after the market had fallen nearly 50% in the fall of 1929. The spring 1930 rally took the market up nearly 50% again, to a level that was only about 20% below the previous peak. That rally, of course, was also the biggest sucker's rally in history. After the market peaked in April 1930, it crashed again, eventually ending up down 89% from the 1929 high and more than 80% from the 1930 high. The market did not reach the 1930 high again for another quarter of a century. The rally that recently ended in April 2010 came after a crash that was actually slightly more severe than the 1929 crash (53% versus 48%). It took the market up nearly 80% from the low! The recent rally also lasted longer than the 1930 rally did--a year, as opposed to 6 months … ] REMEMBER: In 1930, They Didn’t Know It Was “The Great Depression” Yet In the past year, we’ve written a lot about the similarity between the rally of early 1930 and the one we had through April of this year. Investment Banker: It’s Going To Get Nasty – Buy Land, Barbed Wire And Guns A top investment banker has warned that the economic fallout of the sovereign debt crisis could get so nasty over the next five years that people would be wise to abandon the markets and instead buy land, barbed wire and guns.

DEBT POISED TO OVERTAKE GDP Key Indicators of a New Depression Neeraj Chaudhary | Great Depression II developing into something far more devastating than its predecessor You’re Being Decieved Infowars.com | We’re heading over an economic cliff and there’s nothing the government

can or will do about it except lie. Government

The Folly of Blindly Trusting the

‘What Does China Want?’ They want to speak to Rosanne Rosanna Danna, of course! ‘Asian markets tumble on fears over Hungary’ …Riiiiight! Hungary’s the thing! … Rosanne Rosanna Danna, formerly of SNL fame wanted in Asia to chime in with what her mama always used to say, ‘ It’s always something ‘ . Of course, it matters little to the frauds on wall street what the something is said to be since the reality is … ‘This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s***) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.’ ( It should be noted, and there have been a multitude of other instances, that I’m getting substantial ‘attacks’ vis-à-vis my internet connection which has slowed dramatically these posts. I don’t think the interference is either accidental nor just coincidental but consistent with corrupt defacto bankrupt america’s critics of which I am one and not alone in that regard – slowing, militating against the devastating truth about america.) Europe is Heading for a Depression Despite a nearly-$1 trillion rescue operation, financial conditions in the eurozone continue to deteriorate. All the gauges of market stress are edging upwards and credit default swaps (CDS) spreads have widened to levels not seen since the weekend of the emergency euro-summit. Key Indicators of a New Depression With the mainstream media focusing on the country’s leveling unemployment rate, improving retail sales, and nascent housing recovery, one might think that the US government has successfully navigated the economy through recession and growth has returned. Get Ready for a Double Dip … but many warning flags point towards significant deterioration in the U.S. and global economy going forward and so I think that by the end of the year or early 2011, we could very well be facing a new leg down in the world’s economic situation … [I’d say too optimistic since, to reiterate: This is a global depression. This is a secular bear market in a global depression. This was a manipulated bull (s***) cycle in a secular bear market. This has been a typically manipulated bubble as has preceded the prior crashes with great regularity that the wall street frauds and insiders commission and sell into. This is a typical wall street churn and earn pass the hot potato scam / fraud as in prior crashes.]

european central banks intervened to shore up the ever more worthless euro, buying into that fraudulent wall street b*** s*** story that that ‘s a good thing, rallying stocks off their lows. It is amazing how dumb europe

has become so quickly. An exception is what I believe was Germany’s steps against derivatives, which market according to a derivatives trader on the radio this day is a $40 trillion market (missed his name). To reiterate as applicable to yet another fraudulent scheme previously stated, said market is paper on paper moving around and generating commissions at lightning computerized speed but adding no real value in real economic terms; again, the analogy of termites eating away at the (nation’s) foundation is apposite. As such, that money has to come from some real place and hence, the ever more frequent and larger crashes we are seeing. Don’t forget that the worthless paper from previous such fraudulent schemes now marked to anything is still out there in a magnitude some have placed in the hundreds of trillions. The Worst Money Supply Plunge Since The Depression Means A Double Dip Is Now A ‘Virtual Certainty’ The stock of U.S. money as measured by ‘M3′ money supply fell to $13.9 trillion from $14.2 trillion during the three months ending in April. [ This is still an extraordinarily high level but … I don’t buy it. I believe the printing presses have been working overtime to pump out ever more worthless fiat currency and with the many trillions of worthless fraudulent paper still out there and marked to anything. I further believe the same is being surreptitiously used to supplant the fraudulent paper, the consequences of which will be devastating, of course, as is invariably so in depressions in any event. This scenario would also mean huge fraud accomplis. ] Fiat Money Supply Contracting at Great Depression Level The bankster operative who helped destroy GlassSteagall is back. Larry Summers, Obama’s top economic adviser, has told Congress to “grit its teeth” and approve a fresh fiscal boost of $200 billion to keep growth on track, reports the Daily Telegraph. Fiat Money Supply Contracting at Great Depression Level Kurt Nimmo | The Federal Reserve stopped publishing M3 figures back in 2006. Sell in May and Go Away, Indeed [ I wasn’t kidding; and, I’m still not kidding when I say: This is a great opportunity to sell / take profits because there’s much worse to come! ] Forecasts from Dent, Napier, and then Prechter: Depression is Imminent The Dow Jones Industrial Average will go down to at least 1000, most likely to below 777 which was the starting point of its mania back in August 1982, and quite likely drop below 400 at one or more times during the bear market. 10 Reasons to Worry About Margin Growth … a good portion of these factors will likely impact margins by the end of the year. I don’t believe this is adequately factored into earnings estimates across the board. Given this, I believe we have seen the highs for the year and next few quarters will be extremely volatile ...

Dow Theorist Richard Russell: Sell Everything, You Won’t Recognize America By The End Of The Year Business Insider | “Pul – leeze, get out of stocks now, and I don’t give a damn whether you have paper losses or paper profits!” The frauds on wall street et als should be criminally prosecuted, jailed, and disgorgement imposed. If that were so, they wouldn’t be worrying about who wins / loses since those who fraudulently play, invariably would (and should) pay. If they’re not prosecuted, everyone loses. POST MORTEM AND REVIEW Ricky: A post mortem is in order. The elements of this worldwide con game are remarkably simple, not complex at all. Apparently you only need a few things to make a mockery of the entire global economic system, and big banks garnered these few important things through “regulatory capture”: 1) Unregulated, unenforced rules (particularly for derivatives) 2) license to “mark to model” (assign your own values to your assets) 3) ability to peg present value to irrational expected future returns (based on unlimited, exponential growth) 4) infinite leverage (no effective requirements for reserve capital in unregulated “shadow” markets) 5) massive size, so that the bank is "too big to fail" 6) non-transparency and non-accountability. SELL IN MAY AND GO AWAY! THE FORECASTS: Harry Dent, Jr. Economy will be in a Depression by 2011 The worst of this next depression is likely to hit between mid-2010 and mid2013, especially around early 2011, but if the banking system continues to implode a deep downturn or depression could begin sometime in 2009 instead of 2010. Dow will Fall to 3,800 – 4,500 by 2012 Nasdaq will Fall Below 1,100, its 2002 low, by late 2010 or mid-2012 at the latest. Inflation will Increase until mid- 2010 and then turn to Deflation Interest Rates will Increase U.S. Dollar will Decline Housing will Decline by 40 – 60% from Today’s Levels Greatest Economic and Banking Crisis since the 1930s will Occur Between 2010 and 2012 Russell Napier is the author of the book “Anatomy of the Bear”, a professor at the Edinburgh Business School and a consultant to CLSA Ltd. which is one of the top research houses in Asia. Napier’s research indicates (and I paraphrase) that: The S&P 500 will Decline to 400 by 2014 (the Dow 30 to 3800)

The S&P 500 will then undergo a major crash that will see U.S. equity prices bottom at almost 50% below current levels (i.e. to 400 or less; the Dow 30 to 3800 or less) sometime around 2014 as Tobin’s “q” drops to 0.3 signaling the end of the bear market, as it has done at the end of the four largest U.S. market declines in 1921, 1932, 1949 and 1982. U.S. Treasury Sales Collapse Leading to End of U.S. Dollar as Reserve Currency Robert R. Prechter Jr. is author of a number of newsletters and books including “Elliott Wave Principle” (1978) in which he predicted the super bull market of the 1980s; “At the Crest of the Tidal Wave – A Forecast of the Great Bear Market” (1995) in which he predicted a slow motion economic earthquake, brought about by a great asset mania, that would register 11 on the financial Richter scale causing a collapse of historic proportions; and “Conquer the Crash: You can Survive and Prosper in a Deflationary Depression” (2002) in which he described the economic cataclysm that we are just beginning to experience and advised how to position one’s self financially during that period of time. Depression is Imminent The Dow Jones Industrial Average will go down to at least 1000, most likely to below 777 which was the starting point of its mania back in August 1982, and quite likely drop below 400 at one or more times during the bear market. According to the Debt Clock: • Total national debt: $13 trillion • Debt per citizen: $42,026 • Debt per taxpayer: $117,982 • Total interest due: $1.9 trillion • Interest per citizen: $2,211 Click here to see the Debt Clock, which is updated every second. • Total personal debt: $16.5 trillion • Total mortgage debt: $14.1 trillion • Total consumer debt: $2.45 trillion • Personal debt per citizen: $53,483 • Debt held by foreign countries: $4.07 trillion http://www.usdebtclock.org Get Real Time U.S. Debt Data Go to following pages for above links: http://www.albertpeia.com/currentopics2ndqtr10108.htm http://www.albertpeia.com http://www.albertpeia.com/alresume.htm

http://www.albertpeia.com/wallstreetlunacy2ndqtr10108.htm You may post a comment on my blog on any topic: http://alpeiablog.blogspot.com TED OLSON SEEKING TO OVERTURN CALIFORNIA'S PROPOSITION 8, WHICH LIMITS MARRIAGE TO A MAN AND A WOMAN. After shilling for the corrupt u.s. government as solicitor general, maybe he just wanted to go straight [Just Kidding!]. There is no immunity, judicial or otherwise for criminal acts. Moreover, there is no sovereign immunity for non-governmental acts as would include involvement in the illegal drug and related crimes, ie., bribery, etc., and the supreme court has so held against foreign nations in the context of the RICO statute but in my RICO case olson the liar would shill otherwise, not that he really had to worry in light of the pervasively corrupt and wastefully costly federal courts which should be abolished. (Previously) I’d say this alito vs. wobama is a tempest in a teapot inasmuch as alito is more than just a lightweight, hack, liar, fraud etc., as set forth in the comments. alito is a criminal who should have served / should be serving time in prison for obstruction of justice, bribery, among other RICO violations. To alito, drug money is as green as corporate money and worth his vote as well. In addition to being an inept [I looked in on the one mob case he had brought, bungled, lost (accidently on purpose?) since I was suing some mob-connected under RICO and the court (I had known / previously met outside of court the judge Ackerman through a client) was absolute bedlam and a total joke since incompetent corrupt alito brought in all 20 mob defendants (rather than prosecute one or a few to flip them first) who feigning illness had beds/cots in the courtroom along with their moans during testimony and had the jury in stitches)] and corrupt (see below and particularly the summary provided to the FBI under penalty of perjury [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenalty ofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ] ) u.s. attorney. You’re naïve to think that the so-called supreme court is any different from the rest of the meaningfully lawless and pervasively corrupt american ‘system’. I knew well an accomplished trial lawyer, fellow american college of trial lawyers / and a bar examiner, who pondered from time to time becoming a judge “so he’d never have to work again” – his words. Some comments on alito…all appropriate:

Probably the worst appointment in one hundred years. Posted by: mnjam ----------------------Really? That's a pretty sweeping statement to make about someone who's only been on the court a short few years. And I thought that liberals were in universal agreement that Clarence Thomas was the worst appointment in all of history? Posted by: blert | January 28, 2010 2:11 AM | Report abuse ---------------------------Yes. Really. Alito is a total lightweight and hack. He makes Thomas look like John Marshall or Oliver Wendell Holmes. I KNOW ALITO. Posted by: mnjam | January 28, 2010 2:24 AM | the loser here is alito.lost his composure not good for a judge especially afederal or supreme justice .loser big time this will live with guy for a very time.roberts and the other justices will have a talk with him that is a given.this relly larger than o one day news cycle. Posted by: donaldtucker | January 28, 2010 1:12 AM | Should Alito resign or be impeached? Posted by: jdmca | January 28, 2010 1:05 AM | Manchurian Candidates: Supreme Court allows China and others unlimited spending in US elections Greg Palast | Our future elections may come down to a three-way battle between China, Saudi Arabia and Goldman Sachs. Call For Immediate Arrest of 5 Supreme Court Justices for Treason Gordon Duff | The bloated corpse we are creating in Washington is emitting a stench we can no longer abide. The aforesaid would be shocking to anyone without a modicum of knowledge of the reality of pervasive corruption within the u.s. courts themselves and america generally, including all three branches of the u.s. government. Ron Paul: After ‘CIA coup,’ agency ‘runs military’ US House Rep. Ron Paul says the CIA has has in effect carried out a “coup” against the US government, and the intelligence agency needs to be “taken out.” I also personally believe there has been a defacto coup d’etat which has manifested in various substantial, blatant, brazened frauds, ie., wall street, missing 360 tons of $100 bills in Iraq, war profiteering, etc., without any fear of prosecution, and of course concomitant decline for u.s. as the treasury is looted. But I also believe its scope is beyond

just the CIA with many complicit within the corrupted 3 branches of u.s. government (fed judges, us attorneys, illegal system, etc.) plus the military and private big money, ie., Goldman Sachs / wall street men, etc., among other organized crime. america is defacto bankrupt in every way! Rendition: Where the War on Terror Meets the War on Drugs Patrick Henningsen | It’s time to ditch the policies we have come to tolerate for decades before they consume what is left of our moral core. I’ve experienced the corrupt inter-relationship of the government (all 3 corrupt branches) and the illegal drug trade / obstruction of justice / bribery first hand, particularly the courts / u.s. attorneys offices (ie., alito – now u.s. supreme court justice – quid pro quo for his complicity / cover-up), feds; see immediately after article excerpt for links / summary. …“Evidence points to aircraft – familiarly known as “torture taxis” – used by the CIA to move captives seized in its kidnapping or “extraordinary rendition” operations through Gatwick and other airports in the EU being simultaneously used for drug distribution in the Western hemisphere. A Gulfstream II jet aircraft N9875A identified by the British Government and the European Parliament as being involved in this traffic crashed in Mexico…” In 2004, another torture taxi crashed in a field in Nicaragua with a ton of cocaine aboard… Mexican soldiers found ..132 bags containing 3.3 metric tons of cocaine. The origination of the Gulfstream’s flight is unknown but it was destined for Cancun when it crash landed. Again, here is the important point: that same Gulf Stream II was one of the very same planes chartered to the CIA for the rendition of suspected terrorists prisoners. Gulf Stream II crashed in Mexico with 3 tons of cocaine on board ..it should not be surprising that this illegal practice of rendition has in some part, been used as a well-run smokescreen for another borderless illegal operation- an extremely lucrative international transfer and delivery of cash and narcotics.,,These flights are not subject to regular customs checks, inspections or normal regulations as they move seamlessly between destinations in the US, Britain, Europe, Middle East, Central Asia, Cuba and possibly through US bases in Turkey, Greece and Morocco…

Corrupt u.s. courts / judges: Their lifetime plush appointments should be abolished, which corrupt entities are unheard of in productive societies as China, Japan, etc.. Time to abolish these drags on society and eliminate their lifetime stipends and costly bureaucracies. Rules

of law mean nothing to these typically corrupt americans. Most, including sam alito of the u.s. supreme court, concerning drug money laundering and obstruction of justice in the 3rd circuit ( also maryanne trump barry who covered-up drug money laundering through her brother’s casinos in a civil RICO case) should have gone to or belong in jail. Contrary to popular belief, they do it for the money, personal money, big, cash, untraceable money. The fog of war is great for such things (360 tons $100 bills flown into Iraq and missing, etc.). [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenalt yofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]. america’s just a fraudulent and failed defacto bankrupt nation. NSA beats warrantless wiretap rap A Federal judge has dismissed a complaint against the National Security Agency’s (NSA) Corrupt u.s. courts / judges: Their lifetime plush appointments should be abolished, which corrupt entities are unheard of in productive societies as China, Japan, etc.. Time to abolish these drags on society and eliminate their lifetime stipends and corrupt costly bureaucracies.

There must be such things as parallel universes (I don’t really believe that, because there isn’t) or how else do you explain the disconnect between reality, current and prospective, and the wet dreams posited to keep the war funding / corporate welfare programs alive in collectively what has already become a trillion dollar boondoggle (not counting prospective medical costs, etc.) and promises to go much higher. Even israel apologist Cohen of The Washington Post alludes to the Vietnam analogy. However, even if there were real goals beyond the poppy / heroin trade which the Taliban had all but eradicated (there isn’t); even if america wasn’t defacto bankrupt (america is); even if america wasn’t killing innocent civilians in large numbers (war criminal nation america is); even if america’s allies haven’t similarly helped to bankrupt themselves by way of this war (they have); even if I hadn’t told you so (I did) ….. this war still was, is, and remains a very bad idea! Afghan war overtakes Vietnam to become the longest conflict in U.S. history Mail Online | The war entered its 104th month yesterday, with 30,000 American troops being deployed in the first half of this year alone.

How does anyone take the u.s. seriously in light of their credibility problems, war crimes, etc.? What nuke technology israel didn’t steal from the u.s., the u.s. gave them along with missile, armaments, etc.. and paid for with taxpayer money that u.s. taxpayers and the defacto bankrupt nation don’t have. It's time to expel israel from the UN Without doubt, the israeli attack on the Gaza-bound "Freedom Flotilla" in the dawn of Monday, May 31, 2010 is one of the most savage crimes in recent history. It seems the ruling power in Tel Aviv has been afflicted with a variant of mad cow disease; otherwise, how could it be so cruel to unleash such a beastly raid on the "Mavi Marmara," the Turkish flagship of a flotilla carrying medical and humanitarian supplies to the hapless people of Gaza Strip? The israeli Spin-Machine in Overdrive: dershowitz to the Rescue? Armed Israeli commandos, the elite of the elites, rappelled to the deck of a Turkish ship carrying humanitarian relief supplies to the 1.5 million prisoners in the Gaza concentration camp. You think Iraq was bad? Invading Iran ‘would be lunacy’ Ivan Eland, Director of the Center on Peace and Liberty at the Independent Institute in Washington DC, gives his opinion on new sanctions imposed on Iran. I include the first two comments to the foregoing headline: Billo Says: June 11th, 2010 at 6:15 am Lunacy? Keep in mind that this country is run and controlled by lunatics. Our press government and military seem to take their orders from Israel. Isarel wants to be known as a pack of “mad dogs. Do we want “mad dogs” controlling us? Here we see a bunch of phony accusations against Iran just like we did in the run up to the bogus wars in Iraq, Afghanistan and now Pakistan. The boy has cried wold ten thousand times. It’s time to identify the “lunatics” and kindly take away the car keys. If you won’t let your friends drive drunk, why do we let a bunch of “lunatic” enemies run this place. Glen Reply: June 11th, 2010 at 6:47 am Lunacy it would be. But it is also to their great credit that the Iranians have not made their own threats. Everyone knows there are 3 WMD threats, Nuclear Biological and chemical. The scariest of which is Biological.

Any attack done under the threat of immediate biological retaliation would deter only the insane. Watch out america home of the insane, home of the leaders who want an 80% population reduction.

General McChrystal’s Burning Contempt for the Puppet Obama The farce that is the war in Afghanistan is coming apart at the seams. General Stanley McChrystal’s sharp comments about Obama, Biden, and the administration published by Rolling Stone are not so much about disrespect, as the script-reading corporate media talking heads would have it, but rather about a policy in disarray in Afghanistan. Gaza blockade illegal, must be lifted — UN rights official Israeli blockade of Gaza unsustainable: White House US Jewish opinion and the ‘Beinart moment’ The controversial book, The Israel Lobby, in which the political scientists, John Mearsheimer and Stephen Walt, argued that US foreign policy has been hijacked by organized Zionism went strangely unnoticed by the leading journal of American intellectual opinion, the New York Review of Books. Doubts Grow Over Israel’s Value as U.S. Ally Jim Lobe | The notion is that Israel and its actions have since the Cold War increasingly become a “strategic liability” to U.S. interests in the region.

In 1948, U.S. Secretary of Defense James Forrestal, an opponent of the creation of a Jewish state in Palestine, warned that, even though failure to go along with the Zionists might cost President Truman the states of New York, Pennsylvania, and California, it was about time that somebody should pay some consideration to whether we might not lose the United States. Mr. Forrestal was absolutely correct! Isn’t that exactly what’s happened to defacto bankrupt america in intractable decline. TIME TO REVOKE AND NULLIFY THE BALFOUR DECLARATION AND ABROGATE THE CREATION OF THE NATION STATE OF ISRAEL IN THE INTERESTS OF FAIRNESS, JUSTICE, PEACE AND PROSPECTIVE PROSPERITY FOR THIS WORLD! OOOOH! ISRAEL NOW IN FAVOR OF NUKES IN THE MIDDLE EAST IN SUDDEN SHIFT IN POLICY TO FAVOR IRAN IN A VERY BIG WAY! ISRAEL SEES THE LIGHT AND SIDES WITH IRAN ON NUCLEAR ISSUE; ESSENTIALLY SAYS TO THE WORLD AND IRAN ‘TO PRESS ON WITH NUCLEAR AMBITIONS’.

The yardarm is the remedy Dozens of our friends and comrades, of wonderful compassionate activists are dead and wounded in the pirate attack in the high seas on humanitarian aid boats. This is a dreadful crime that will forever be remembered and should be punished. The Israeli pirates attacked the humanitarian aid Freedom Flotilla in the international waters over 150 km out of their territorial waters. The boats carried no arms; the participants strictly adhered to Ghandian mode by asking the Greek and Cyprus authorities to search the boats to avoid later claims that they were armed. A Plague Upon The World: The USA is a “Failed State” Dr. Paul Craig Roberts | The American people are lost in la-la land. They have no idea that their civil liberties have been forfeited. US citizen killed on flotilla reportedly shot four times in head Raw Story | A forensic report said Furkan Dogan was shot at close range, with four bullets in his head and one in his chest, according to the Anatolian news agency. The explanation foisted off on the americans by war criminal israelis is probably something on the order of ‘they just wanted to make sure they missed him’. Roberts: ‘AIPAC purchases US elections’ Russia Today | Paul Craig Roberts says that there will be nothing that is going to be done by the United States to change the relationship with Israel. ‘US funding terrorist group against Iran’ Press TV | A member of a terrorist organization operating in Iran says that a US State department radio station originally put him in touch with the group. Paul Craig Roberts: Government Abandoned Vietnam POWs Kurt Nimmo | John McCain worked overtime to make sure Vietnam POWs never came home. I think the even bigger story vis-à-vis mccain is: http://www.albertpeia.com/heroenot.htm ‘Did you know that that so-called "american heroe" john mccain was referred to by his fellow pows in Vietnam as something akin to the "songbird" inasmuch as he was constantly "singing" to his Viet-Cong captors to curry favor and better treatment? This has been documented with authority by Colonel David Hackworth. The same violates military code/protocol (other soldiers have been court-martialed for far less) click Here, Here. [ http://www.albertpeia.com/hackworth.htm ] But, you see, this covered up scenario, compromizing the false facade of far less than a heroe, is exactly what a criminal (lie of a) nation as america loves and encourages (get everyone's hands dirty so no-one dares to rectify same, ie., bush, sr., clinton, bush, jr.). That is, "toe the (corrupt, propagandized) line", become a criminal, or be exposed, prosecuted, and/or ruined; and, hasn't anyone asked how "wall street" has been "spared the spotlight" (and even was accorded protective legislation from their criminal culpability) and focus of inquiry, attention, and prosecution despite being the primary beneficiaries

financial and otherwise of these scams (you know the wall street motto, "churn and earn"; huge conflicts of interest if not outright fraud)…’ Coalition wants UK space lift-off [ Don’t make me laugh! ] Israel’s Nukes Out of the Shadows Israel faces unprecedented pressure to abandon its official policy of “ambiguity” on its possession of nuclear weapons as the international community meets at the United Nations in New York this week to consider banning such arsenals from the Middle East. NASA wants mission to bring Martian rocks to Earth (AP) Why? They already have that and more: Launch of secret US space ship masks even more secret launch of new weapon The Militarization of Outer Space: The Pentagon’s “Space Warriors” Global Research | It’s not as if things aren’t bad enough right here on planet earth. Now the Defense Department wants to up the stakes with new, destabilizing weapons systems that will transform low- and high-earth orbit into another “battlespace.” buzz aldrin wants to colonize Mars … Riiiiight buzzed! Better check with DePalma to see if he already has the footage in the can since you won’t be able to use the moon footage for the new boondoggle video ... OBAMA SPEECH OUTLINES PLANS FOR RETURNING DEFACTO BANKRUPT U.S. TO SPACE – OOOOOH! SOUNDS LIKE A PLAN … FOR INNER SPACE (IMAGINATION). NASA's New Asteroid Mission Could Save the Planet Space.com Tariq Malik - CAPE CANAVERAL, Fla. - President Barack Obama set a lofty next goal this week for Americans in space: Visiting an asteroid by 2025. Obama's asteroid goal: tougher, riskier than moon The Associated Press Obama calls for NASA to focus on trips to Mars and beyond Computerworld New Boondoggle promised to save NASA boondoggle defacto bankrupt budget piece of pie. And don’t forget, Bruce Willis and Ben Affleck, et als, have already done this so it’s not as if they’re starting from ‘ground zero’, so to speak; and Brian DePalma already has ‘Mission to Mars’ in the can, but beware say the producers of ‘Species II’ since Eve, the cloned daughter of Sill, might want to mate with

astronaut Paddy Ross who has returned from Mars as a space alien host body. First fake moonwalker blasts Obama's space plan msnbc.com - Bill Ingalls - The first man to pretend to walk on the moon blasted President Barack Obama's decision to cancel NASA's back-to-themoon program on Tuesday, saying that not going with the new movie is “devastating” to america's boondoggle spaced out effort. Fake dutch 'moon rock' revealed a treasured piece at the dutch national museum - a supposed moon rock from the first manned lunar landing - is nothing more than petrified wood, ...bbc news bbc news | europe | fake dutch 'moon rock' revealed prized moon rock a fake - a piece of moon rock given to an overseas politician by the united states is actually a lump of petrified wood, museum authorities revealed yesterday. ... 'Moon rock' in dutch museum is just petrified wood aug 27, 2009 ... Fake moon rock at dutch national museum. Rijksmuseum / ap. This rock, supposedly brought back from the moon by american astronauts, ... http://www.albertpeia.com/moonfraud.htm In reality it is just a piece of petrified wood ... Another piece of evidence that shows again that apollo program is indeed a fake and a typical american fraud! http://www.albertpeia.com/UFOetryWeNeverWentToTheMoonPNTV.wmv Editorial: US in quagmire Seeing the warm welcome extended to the Afghan president on his US trip, it is hard to believe that only weeks ago Washington was seething with anger and frustration at Hamid Karzai’s behavior and there were even dark mutterings by US officials that he might be mad. War in Afghanistan and Iraq costs America $1trillion From the Old | On May 30th at 10:06 the United States reached the point where they have spent $1trillion on the wars in Afghanistan and Iraq. Sinking of the Cheonan: A Classic False Flag Operation Russia Today | Sinking of the warship was really intended to convince Japan not to move US forces off Okinawa as well as divert the attention of Americans from the dire economic situation at home. . Israel: IDF Troops Who Murdered Unarmed Innocent People Are ‘Brave Heroes’ The government of israel, aided by many quarters of the international media, is attempting to spin today’s deadly IDF assault on a humanitarian aid ship carrying supplies to Gaza as the fault of the murdered activists on board the vessel, ludicrously characterizing machine-gun carrying Israeli troops who killed over a dozen innocent people as the victims of the incident.

Murder on the high seas JERUSALEM: Israeli marines stormed aid ships bound for Gaza on Monday and at least 10 rights activists were killed, triggering a diplomatic crisis and an emergency session of the UN Security Council. European nations, as well as the United Nations and Turkey, voiced shock and outrage at the bloody end to the international campaigners' bid to break Israel's blockade of the Gaza Strip Israeli American Microbiologist Linked to Deadly Fungus Kurt Nimmo | A report links labs in the United States and Israel to the Cryptococcus gatti fungus that has killed several people in the United States. Iraqi doctors demand cancer probe Al Jazeera | Iraqi doctors believe depleted uranium from US military equipment used in the 2003 invasion is spreading cancer through the population. [This is all too true and real; and I’m surprised this hasn’t gotten more attention, coverage … well, maybe not that surprised ]. "What this means is that Neanderthals are not totally extinct. In some of us, they live on," Paabo … With regard to that extinction thing, I’d say they’re still working on it (ultimately, decades, extinction, the distinction, without a difference). Actually, prior to studying the compelling subject of Biological Anthropology (Michael Park text), I too had some misconceptions about the group known as Neandertals (recent spelling drops the ‘h’) and actually mis-referenced same by the stereotypical image of members of said clade even as the debate continues as to whether they are within the species homo sapiens or a separate species. I believe these to be distinctions without important differences, so humble the origins and evolution of man truly are. Parenthetically, I wonder what that anthropological scientist Heidi Klum thinks on the subject. Neanderthals, Humans Interbred, DNA Proves Signs of Neanderthals Mating With Humans - Neanderthals mated with some modern humans after all and left their imprint in the human genome. Genome hints humans, Neanderthals rolled in prehistoric hay You're a Neanderthal: Genes say yes — a little bit (AP) Neanderthals and people interbred, fossil analysis finds For more info on man’s humble beginnings, see here http://www.albertpeia.com/anthroindex1.htm Previously I wrote:

FOUND: MISSING LINK BETWEEN APES AND MAN.... These stories, and the many like it, are old news and I subscribe to the more studied view that there is no “missing link” per se and in my view they are distinctions without significant differences. I previously wrote: To Learn More About From Whence Man Came, This Link's For You [To the Professor at the beginning of the course] 10-5-09 Postscript: Professor *****, I felt compelled to thank you again for the add; not to curry your favor but indeed to express profound thanks inasmuch as this is probably the last formal course at a formal educational institution I'll ever take; and among the most important. While I had bought at discount a library-discarded 1993 Anthropology by Embers text, though meaning to read same never quite got to it. I am astounded by the substantial amount of time involved in the evolutionary process, not that I ever stopped to think about it, and one must come away with the sense of 'and all that...for this?'. This course should be required curriculum along with psychology, sociology, etc., but probably won't be owing to what is, as it should be, a very humbling educational experience for any member of the human race. Regards, Al Peia [Interestingly, my intuitive (but unstudied) thoughts prior to closer examination of the compelling subject of Biological Anthropology remain what I believe to be the correct scenario. Specifically, very simply stated, for the most part, the more “enlightened” (but not by much; by mutation, accident, luck, intervention, etc.) left the unvarying confines of their Sub-Saharan origins, experienced diverse new environs, challenges, etc., experienced what has been described (by neuroscientists, psychologists, etc.) as neurogenesis in varying degrees and forms thereby over time, which trait was selected for and is consistent with the purported multi-regional evolutionary model which does not overtly contradict ultimately, initial African origins. Races, sub-species, missing links, etc., are subsumed in this very humbling and sorrowful tale of the “dawn of man”.] [Abolish the corrupt, costly, economically wasteful lifetime extravagantly appointed federal courts - see RICO case [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpe naltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]

Don’t Tread On Me: A Refresher Course on the Constitution

BUDGET CRISIS PUTS LOS ANGELES COURT SYSTEM AT RISK ... [Judge sends Lohan to jail for probation violation (AP) – They got her! That globe-trotting danger / threat to society, the infamous public enemy Lindsey Lohan. Guess she couldn’t cough up that direct or indirect bribe. How pathetic these corrupt, kangaroo courts are! If only she was a drug dealer, armed robber, etc., she would have had the pre-paid connections to avoid this preposterous (known substantial criminals walk about freely, without fear) outcome. This, even as they are releasing substantial felons owing to budgetary considerations. ] ABOLISH THE CORRUPT, ECONOMICALLY WASTEFUL SO-CALLED SYSTEM, FROM MY DIRECT OBSERVATION AND EXPERIENCE . (PREVIOUSLY ARCHIVED) HOWEVER, THIS LATEST "CALIFORNIA/LA DISTRACTION" REQUIRES ELUCIDATION AS FOLLOWS: Response to App. Div. OSC STATE OF CALIFORNIA ethics complaint Response to Sup.Ct. OSC designation of record on appeal The so-called "order" appealed from. How embarrassing for the superior court of the state of california! Typical corrupt banana republic america/california court

Dirty money digitally laundered … a wall street, atlantic city, and american story … a very bad one and [also see RICO case http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderp enaltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ] Fraud: It’s Much Bigger Than Goldman Sachs Regulatory reform debate obscures key fact: Everybody’s getting money bribes from Wall Street Blagojevich calls feds 'cowards and liars'…[Yes. This is a rare moment for one to say that a sleazy hypocrite like blago, who is on corrupt federale-connected mobster trump’s celebrity apprentice, happens to be correct based upon facts / reality and my own direct observation and experience and the law – Don’t forget to include corrupt federal judges as maryanne trump barry, sam alito, shiff,

matz, hall, underhill, dorsey, etc.. Defacto bankrupt america’s socalled system is pervasively corrupt and broken] (AP) [Abolish the corrupt, costly, economically wasteful lifetime extravagantly appointed federal courts - see RICO case [ http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpe naltyofperjury.pdf http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm ]

Drudgereport: JUNE UNEMPLOYMENT 9.5%... 125,000 JOBS LOST... Rate dips as 652,000 give up search... Depressing... [That’s why they’re called depressions (just kidding … but no laughing matter) … At this rate, with all those lost jobs and jobseekers no longer seeking those lost jobs that aren’t there, by their calculations (9.5% the bright spot … riiiiight!) we should be at full employment very soon … you can’t make this stuff up … really!]. New jobless claims rise [again]... 'Surprise'... Pending home sales plunge record 30%... Weak economic data suggest 'recovery' fizzling... Fears mount over slowing global demand... UN committee calls for dumping US dollar... Six Months to Go Until the Largest Tax Hikes in History... KRUGMAN: 'We are now, I fear, in the early stages of a third depression'... 'RECOVERY SUMMER' CONTINUES... STOCKS HIT LOWEST OF YEAR... DEBT SOARS TO HIGHEST LEVEL SINCE WWII... PRIVATE SECTOR SEES WEAKER JUNE JOBS... Sputtering... Dow Loses 10% in Q2... Fed Officials Express Caution on Outlook, Avoid Talk of Further Stimulus... NEW CLASHES IN ATHENS... Greeks Walk Off Job... NEARLY 2,000 PAGES: The legislation would redraw how money flows through economy... Bank stocks soar … see new old opportunities for new old frauds ... buzz aldrin wants to colonize Mars … Riiiiight buzzed! Better check with Dipalma to see if he already has the footage in the can since you won’t be able to use the moon footage for the new boondoggle video ... WSJNBCNEWS: Confidence Waning in Obama, U.S. Outlook... SCARY OBAMA: 'VERY DIFFICULT CHOICES AHEAD' ON DEFICITS CHICAGOLAND BOMBSHELL: Obama knew plot to trade Cabinet post for appointing Jarrett to Senate -- Testimony...

RAHM DELIVERED THE LIST... BLAGO TAPE: Get Obama to fundraise from Buffett, Gates... Greece puts its islands up for sale in futile attempt to save economy... DEUTSCHE BANK says US financial conditions are worse... New home sales plunge 33%... Record low... CIA: AFGHAN PROGRESS 'SLOWER' THAN ANTICIPATED… Daaaaah! ... GEN. PRAYFORUS JUNE: DEADLIEST MONTH... Obama's choice suggests longer troop presence... Obama doubles down on war... New General, Old Strategy... President's real problem: War plan in trouble... WIRES: Gen.'s remarks echo troubled strategy... 'Doubt among soldiers that counterinsurgency will work'... REPORT: Traded Favors with Blago... Sticker Shock Among Dems Jeopardizing Obama's Agenda... CHINA TO OVERTAKE USA IN MANUFACTURING... Canada's economy suddenly the envy of world... Germany Rejects Obama's Call on Growth, Stoking G-20 Conflict... States Take Aim at Pension Costs... ...Bank failure pace more than double last year REPORT: Madoff tells cellmates of $9 billion stash... they all have them … Cases against Wall Street lag despite Holder’s vows to target financial fraud FANNIE AND FREDDIE tab 146B and rising; Foreclosed on home every 90 seconds... THOMAS SOWELL: Is USA Now On Slippery Slope To Tyranny? DEBT RISE TO $19,600,000,000,000.00 BY 2015 GALLUP: NEW LOW FOR O, SLIPS TO 44%... POLL: Voter support for Congress at all-time low... GALLUP: Obama's Weekly Job Approval Rating Skid... RASMUSSEN POLL...
Obama Approval Falls to New Low: 42% Obama Approval Index: -20 Strongly Approve 24% Strongly Disapprove 44% Total Approval 42%

SPAIN: THE NEW CRISIS IN EUROLAND... BP chairman says company cares about the 'small people'.. The 'small people' aren't big fans of comment... 32 million watch Obama speech, down 21% from last address... House Speaker Paying $18K a Month for New Office... GERMAN GOVT CLOSE TO COLLAPSE... LOBOTOMY JOE BIDEN: 'I'M A POLITICAN, AND AM PROUD OF IT!' … riiiiight joe, anything you say ...

DICK MORRIS: Obama vs. press freedom... Spain sees credit squeeze, denies EU rescue bid... Retail sales unexpectedly fall in May... ...plunge by largest amount in 8 months Copter shot down in Afghanistan; 4 Americans dead... Gates predicts tough summer, confident of gains…Oooooh! Sounds like a plam!... Ahmadinejad Stresses Need for 'New World Order'... Russia, Iran in joint venture for nuclear plant... Two more Palestinians killed by Israel wash ashore... UN rebukes of Israel permitted in US policy shift... DEBT POISED TO OVERTAKE GDP WH PRESS QUEEN: JEWS GET OUT OF ISRAEL, GO BACK TO POLAND … UPON REFLECTION, A GOOD IDEA … AFTER ALL, THE ENGLISH BALFOUR DECLARATION WAS A PRO-COMMUNIST CONCESSION, A BAD IDEA, AND THE CREATION OF ISRAEL U.S. DOD CHIEF JAMES FORRESTAL OPPOSED IN 1948 AS AN AMERICA KILLER! 'Three Cheers for Helen Thomas'... Census Worker Claims Job Numbers Being Inflated... Bilderberg 2010: Between the sword and the wall... Protesters 'being detained, searched, questioned'... Final List of Participants... Stephen Hawking: Aliens exist but don't talk to them -- it's too dangerous … might not like us… Oh pshaw! … Human nature, man’s inhumanity to man? … Such humble beginnings and evolutionary history … What’s not to like? … Besides, not to worry. With their advanced technologies that defy human understanding, the aliens already know you’re here … to stay. So, not to worry. After all, as we know from that documentary of that same name, ‘Earth Girls Are Easy’ … and then there’s photosynthesis on earth in a very big way also going for it! ... Seeing Aliens Will Likely Take Centuries. Centuries? Not goin’ to happen; at best, decades. Go to following pages for above links: http://www.albertpeia.com/currentopics2ndqtr10108.htm http://www.albertpeia.com http://www.albertpeia.com/alresume.htm http://www.albertpeia.com/wallstreetlunacy2ndqtr10108.htm You may post a comment on my blog on any topic: http://alpeiablog.blogspot.com

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