Monday, June 22, 2009

It Is Only Gonna Get Worse From Here (Really)

Just a slew of positive news out over the past week (LOL). Great things are happening all around us. Mainly the effect of this good news is that the manipulators are getting ready to get their just desert. CNBS will blow it all off and just change their tune (which should be interesting if you watch - I don't. BBerg Radio rules). It's a comin folks.

Let me see, insiders bailing, CRE collapse can't be hidden any longer, lack of liquidity to support both the treasury and equity markets, states about to go bankrupt left and right, world bank cutting global growth forecast (I won't even get into commodities or dollar pricing in this post), deflation then inflation then hyperinflation AND the FTC is going to start oversight of the blogosphere. Fanfreakingtastic news isn't it? If P3 (the big crash) ain't here, it will be soon. If you are long anything you better be hedged.

From Bloomberg - Insiders Exit Shares at the Fastest Pace in Two Years (Update2). "“If insiders are selling into the rally, that shows they don’t expect their business to be able to support current stock- price levels,” said Joseph Keating, the chief investment officer of Raleigh, North Carolina-based RBC Bank, the unit of Royal Bank of Canada that oversees $33 billion in client assets. “They’re taking advantage of this bounce and selling into it.”" Ya think?

From TD at Zero Hedge - Moody's: "Sellers Beginning To Capitulate To Realities Of CRE Markets.". "The size of April's decline, following a 5.5% decline in January, also suggests that sellers are beginning to capitulate to the realities of commercial real estate markets," says Moody's Managing Director Nick Levidy. "While loss aversion is no doubt still in play with many owners, more distressed sales appear to be occurring, resulting in more negative returns and causing larger drops in the index." No way. CRE is just fine. No problems here. nothing to see. Move along sheeple.

Market Ticker - Liquidity Disappearing. "Bernanke and Obama are backed into a corner, exactly as I predicted would happen. In order to continue to issue like this in the Treasury market while not driving Treasury rates to the moon money will have to be "scared" into bonds - which means blowing up the stock market." Liquidity? What about the printing press? Did you run out of ink?

Mish - States in Deep Trouble Over Plunging Income Tax Revenues. 20 states depending on personal incomes taxes for >. "25% of total taxes were down 20% or more on collections. This is a very grim report on state finances." One slightly overlooked and under publicized topic, job loss.

Naked Capitalism - World Bank Cuts Growth Forecast Mid-June; Bloomberg Claims Markets Take Notice Today. "We did note at the time that it was puzzling that the media took so little note of the marked change in the World Bank forecast, since it is usually an above-the-fold news item. And looking at the World Bank site, I do not see a new press release (the older one was dated June 11)." Media overlooked this report? You gotta be kidding me?

AP - FTC plans to monitor blogs for claims, payments. "It would be the first time the FTC tries to patrol systematically what bloggers say and do online. The common practice of posting a graphical ad or a link to an online retailer — and getting commissions for any sales from it — would be enough to trigger oversight." Well, it was fun while it lasted. Better learn to read thru the CNBS BS, cause you won't be getting any more articulate and truthful information like you have just read in this post.

Folks, the world is changing. I don't do this for my health or the money. I do this to educate and warn you that our world is changing and you better be prepared.

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