Good interview from a few months ago which looks pretty accurate right now
"Everybody who's saying ‘buy stocks' today or ‘buy real estate' is, I think, setting up people to get really hurt," says Prechter, who believes the bear market rally is reaching a major top.
"We had a great opportunity at [S&P] 667 - that was the big opportunity," says Prechter, who did make a bullish call last February. "The market is up 60% [from the March lows]. There's no way the S&P is going up 60% from here."
Rush's Response to Commissioner Goodell's Answer:
Of course, Goodell's a total weasel. He had no answer about the Dolphins' owners so wouldn't even address the question, and he got on his high horse about how McNabb is a fine player and a fine person and it has nothing to do with the color of his skin, when I (a) never said he was not a fine person; (b) never said he was a bad QB -- just that he was overrated (which no one should deny); and (c) said the MEDIA was obsessed with the color of his skin (which is also undeniable), not that I was.
I RESPECT Donovan McNabb, as I do all the elite athletes qualified to play in the NFL. I'd love to have a beer with him and discuss football. My job on the ESPN pre-game show was to disagree with the panel when I did. The production meeting the day before the show featured two segments on McNabb and the Eagles. The focus of BOTH segments was, "What's wrong with McNabb?" My thought was that not that much was wrong, that the Eagles defense was not getting sufficient credit, and that I thought the media was hyping McNabb for my stated reasons.
Lord Christopher Monckton's speech in Minnesota as referenced in the article. Previously posted on Monday October 26th here at The Saloon Dot Net.
Enter Lord Christopher Monckton. The former adviser to Margaret Thatcher gave an address at Bethel University in St. Paul, Minnesota, earlier this month that made quite a splash. For the first time, the public heard about the 181 pages, dated Sept. 15, that comprise the United Nations Framework Convention on Climate Change—a rough draft of what could be signed come December.
So far there have been more than a million hits on the YouTube post of his address. It deserves millions more because Lord Monckton warns that the aim of the Copenhagen draft treaty is to set up a transnational "government" on a scale the world has never before seen.
At the annual American Banking Association conference this weekend in Chicago, the SEIU army spearheaded an angry mob protest against major financial institutions who have taken federal bailout funds.
It was the usual left-wing Kabuki theater. If the protesters were sincerely mad about the government bailouts, they’d be yelling on Capitol Hill and in front of the White House. SEIU is simply taking over for its disgraced brethren at ACORN — with whom they have long collaborated on corporate shakedowns. Remember: SEIU and ACORN are flip sides of the same corrupted coin.
151 clean, safe, enviornmentally friendly, nuclear reactors were under construction or slated for construction in 27 countries as of the end of 2008. In the U.S.? None. Thanks Tree-Huggers!
Japan's major nuclear reactor manufacturers have begun developing small nuclear power systems for both developed and emerging countries, a report said on Saturday.
Toshiba Corp. is developing an ultra-compact reactor with an output of about 10,000 kilowatts and has started procedures for approval in the United States, the Nikkei business daily said.
Their strategy of demagoguing Limbaugh as the leader of the GOP made sense because it invited a comparison between Rush and The One, which, given their relative popular appeal, is a good match-up for Democrats. The anti-Fox strategy makes zero sense considering that (a) the public thinks the media is too liberal, which Fox uses to frame itself as a needed corrective, and (b) Fox’s most high-profile competition, such as it is, spent a fair chunk of the Bush years screaming about fascism and insisting that Roger Ailes runs a more dangerous organization than Osama Bin Laden. Not a good match-up. I assume the Fox-baiting is simply red meat they’re throwing to liberals to try to take the heat off on Afghanistan and “don’t ask, don’t tell,” but when even the Nation’s telling them to stop whining, the move to Plan B can’t be long in coming.
He held inchoate liberal views until 1991, when the Clarence Thomas hearings occasioned a conservative awakening. He came to loathe the left-wing show-biz culture, the subject of his 2004 book, "Hollywood, Interrupted," and of his group blog Big Hollywood, launched early this year. "These people believe that Christians and conservatives and Republicans and libertarians are all variations on the Nazi theme."
The Independent, under the front-page headline "The Demise of the Dollar", reported last Tuesday that Gulf states, together with China, Russia, Japan and France, were considering replacing the dollar as the currency for oil deals.
"In the most profound financial change in recent Middle East history, Gulf Arabs are planning -- along with China, Russia, Japan and France -- to end dollar dealings for oil," wrote The Independent's Middle East correspondent Robert Fisk.
They would switch "to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar," added Fisk, citing Gulf Arab and Chinese banking sources.
The report was denied by a host of countries, including Kuwait, Qatar and Russia, while France dismissed it as "pure speculation."
Even so, the United Nations itself last week called for a new global reserve currency to end dollar supremacy, which had allowed the United States the "privilege" of building up a huge trade deficit.
Hi All! When I'm not spending my time posting all over The Saloon, I do some trading on the side and some closer friends follow my activities. Basically, if you want to follow along, feel free! BTW- I'm not offering investment advice, just sharing my activities.- Riley
"I have personally changed directions from DPS to ENDP and will be holding ENDP for a few weeks. For those of you who got in on DPS at ~28.50 on the margin last week, you have realized a gain of ~6.8% over the last week.
ENDP got a fat and juicy upgrade from Oppenheimer this past Monday and reports earnings towards the end of the month… I got in this morning at 23.75."
In a graphic illustration of the new world order, Arab states have launched secret moves with China, Russia and France to stop using the US currency for oil trading
In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.
Ricky Gervais has launched his second consecutive box office bomb as The Invention of Lying (Warner Bros) only mustered $2.2M or so to start the 3-day. The comedy should finish #5 with approximately $6.5M for the weekend. …
[B]ut the biggest disappointment of the weekend is Michael Moore’s Capitalism: A Love Story (Overture). After a $57K per theatre average on 4 screens last weekend, the picture broke to a wider 962 locations with terrible results. The “documentary” only sold an estimated $1.3M in tickets to start the weekend, and it will finish at about $3.9M for a PTA of less than $4,000. That soft opening will almost certainly make Capitalism Moore’s weakest-grossing movie since 2002’s Bowling for Columbine ($21.5M domestic gross).
In a discussion on CNBC about the larger than expected September job losses reported Friday by the Labor Department, Reich was explaining to hosts Melissa Francis and Lawrence Kudlow how things would be much worse if not for the stimulus package.
He also implied that things won't get better until healthcare is reformed.
In the middle of this absolutely absurd statement, Francis and Kudlow appeared to look at each other with the former breaking out into laughter and the latter doing his best to hold it back.
PepsiCo sent shockwaves through the carbonated beverage industry Monday when the multibillion dollar corporation announced that it would cease all advertising of its popular soda product, effective immediately.
Bank of America has been caving in to left-wing special interests for years.
The financial giant teamed up with the open-borders lobby to offer illegal alien home loans.
It forked over payoffs to self-declared bank terrorist outfit NACA (the taxpayer-subsidized Neighborhood Assistance Corporation of America).
BoA also capitulated to a Jesse Jackson shakedown.
And then, after receiving a middle-of-the-night taxpayer-funded bailout, it forked over $2 million to the ACORN Housing Corporation — which has had a long history of fraud and abuse that goes back years and years before the sting videos ever came in to being.
As a result of the recent scandals, Bank of America has now “suspended current commitments” with ACORN.
"The American dream is not totally dead, but it’s being pretty, it’s dying pretty fast...Horatio Alger would move to Europe these days."
So said New York Times columnist Paul Krugman Friday.
Appearing with disgraced former New York governor Eliot Spitzer on HBO's "Real Time with Bill Maher," Krugman demonstrated perfectly why his perpertually pessimistic view of America is so revered by perpetually pessimistic liberals."
A rare textile made from the silk of more than a million wild spiders goes on display today at the American Museum of Natural History in New York City.
To produce this unique golden cloth, 70 people spent four years collecting golden orb spiders from telephone poles in Madagascar, while another dozen workers carefully extracted about 80 feet of silk filament from each of the arachnids. The resulting 11-foot by 4-foot textile is the only large piece of cloth made from natural spider silk existing in the world today.
Why did Labor Secretary Hilda Solis move quickly to change disclosure requirements for unions and their political activities? Don Loos at Big Government connects the dots and discovers the Obama administration’s attempts to get their allies in Big Labor out of the line of ACORN fire.
Wall Street’s march toward Dow 10000 next week will have to go through a minefield of possible bad news, including several gauges on the still-weak housing market and new data that give clues about the health of cash-strapped consumers.
Despite fears September would live up to its bearish track record, the markets have had almost no trouble at all building on their summer surge this month, with stocks closing at fresh 2009 highs on Friday.
The president said he is "happy to look at" bills before Congress that would give struggling news organizations tax breaks if they were to restructure as nonprofit businesses.
"I haven't seen detailed proposals yet, but I'll be happy to look at them," Obama told the editors of the Pittsburgh Post-Gazette and Toledo Blade in an interview.
A provocative full-page newspaper ad from Fox News drew heated reactions from its rivals today and one demand that The Washington Post apologize for running it.
Over photos of protesters gathering for an "anti-tax" rally in Washington last Saturday, the ad asked: "How Did ABC, CBS, NBC, MSNBC and CNN Miss This Story?"
“We know we still have a lot to do, in conjunction with nations around the world, to strengthen the rules governing financial markets and ensure that we never again find ourselves in the precarious situation we found ourselves in just one year ago,” Obama said.
The smell of trade war is suddenly in the air. Mr. Obama slapped a 35% tariff on Chinese tires Friday night, and China responded on the weekend by threatening to retaliate against U.S. chickens and auto parts. That followed French President Nicolas Sarkozy's demand on Thursday that Europe impose a carbon tariff on imports from countries that don't follow its cap-and-trade diktats
Fox News' ratings star Glenn Beck, pilloried by his more liberal colleagues and reviled by the politicos that he targets, has seen many of his more high profile advertisers desert him in recent weeks over threats by groups like ColorofChange.org to organize a boycott of their products. We here at the Saloon think this is offensive, that such groups be allowed to hold sway over good, honest, hard-working American businesses. However, we also believe that these companies need to understand that this is also a double-edged sword. Allowing a bully like ColorofChange.org to intimidate them in to pulling their advertising away from a program, while certainly expedient, is a bad precedent to set.
At least now we know which companies to avoid patronizing until such time as they cease capitulating to such tactics.
We witnessed that rarest of things last week—a politician's public humility. When France, along with Germany, reported an unexpected uptick in economic growth for the second quarter, French Finance Minister Christine Lagarde called the return to growth "very surprising." Imagine that—a major global economy stops shrinking, without the benefit of trillion-dollar stimulus packages or major reforms, and a politician doesn't rush to claim credit for the achievement.
(The more government clams up and gets the hell out of the way of the producers, the better it is for the economy. Nice to see that even socialist utopias like France are beginning to see it. - Roland)
The fresh news about Washington--the White House and Congress--is that things are not going very well...The real purpose of Waxman-Markey is to vastly expand the scope, power and authority of the federal government. Washington would permanently regulate and dictate the performance of the U.S. economy, reward constituencies it favors and punish those it doesn’t, and make more and more Americans dependant upon federal largesse.
'I agree. Capitalism has failed. If the Free Market System can't stand up to a little Government regulation, prosecution by the DoJ, interference by the IRS, a judicial system which all but encourages frivolous lawsuits against "Big Business", and crushing laws made by zealous anti-business politicians, then maybe the thing was just bound to collapse.'
(Bullseye! Thanks, Tim, for that badly needed dose of reality and humor. There isn't much to laugh about with these guys in power right now. Sadly. - Roland)
President Barack Obama faces growing concerns among voters over government spending, the auto industry bailout and other economic policies, according to two opinion polls released on Wednesday. Obama, who took office in January, remains popular with Americans, although his overall job approval rating slipped to 56 percent, down 5 points from April, according to an NBC News/Wall Street Journal poll
Energy: Exxon Mobil's surprise decision to join Trans-Canada on a vast Alaska gas pipeline project is a big step toward making the U.S. self-sufficient in domestic energy. By defying naysayers, Sarah Palin is now vindicated. It must be sweet vindication for Alaska's governor.
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