With the DOW hovering just above 13,000 support and the SPX trading sub 1400, is it time for a breather or something worse? I think so, but that decision is up to the central planners and those in the cabal controlling the system. We can theorize all day long, but bottom line is will the Fed pull market sustaining liquidity or not?
The SPX is working on a third head and shoulders (forming a massive head here) with the first having a neckline at 1340. So a fall to there, pop to 1370 for the right shoulder and then collapse to 1270 looks pretty good here if things start going south. That fits with my targets I have been giving for some time.
I still contend the market is a major illusion generating the all is well signal while the economy erodes at an increasing pace from under it. That's not a good combination. More on the markets in the morning (of which STB is blistering hot in market calls as usual), there are more important things to cover tonight. STB will continue to hammer home the doom and gloom till you get it in your head that all is not well.
Two really important things you need to see today - these videos highlight two SEVERE issues we have today - the economy and our constitutional rights.
First - In today's must watch video (I'm not sure which was squirming more the congressman of the treasury secretary) the truth about how much more we need to spend to sustain this "recovery" comes out. Geithner Asked What Would Be Very Last Debt Ceiling Request; Says "A Lot, Would Make You Feel Uncomfortable" | RealClearPolitics. You see, the "recovery" is an illusion and they can't stop spending. We're dead in the water. The only thing they have done is re inflate the debt bubble and paper over all our troubles. They have fixed NOTHING!
Second - As for our Constitutional rights and the OUT OF CONTROL government this should literally scare the shit out of you. We have lost ALL CONTROL over our government. Listen carefully. Open your ears and mind. This is IN YOUR FACE out of control government. Who controls our military? URGENT:-Panetta Publicly Admits U.S. Military/Obama Takes Orders from The U.N. - YouTube
In General news - Just stuff you need to know is going on -
Thinking about packing up and hauling ass from this increasingly oppressive nation? Many are - A Primer For Those Considering Expatriation | ZeroHedge. "Once you've completed Phases 1, 2, and 3 of your four-step plan to disconnect from the United States, you're ready for Phase 4: expatriation. While you may never take the final step of giving up your U.S. citizenship and passport, taking the preparations summarized so far at least gives you that option."
How desperate is Cali? Welcome To The Predatory State of California--Even If You Don't Live There | ZeroHedge. I'll tell you, if you used to live there, like years ago, watch your bank account. They seem to take first and ask questions later.
Tampa's tax fraud epidemic gets national scrutiny | TBO.com. Everyone is doing it. Like in "epic" proportions. It must be a sign that the economy is improving. "Perez said he's found a 16-year-old on his way to school with a list of names, dates of birth and other identifying information for use in tax fraud and a 76-year-old man with a laptop computer case stuffed with debit cards pre-loaded with money suspected to have been obtained through tax fraud."
Congratulations, you may now PAY the government to keep your money. That's right, negative interest rates are here! "Today’s auction of $13 billion in US 10-year Treasury Inflation-Protected Securities (TIPS) went off at a yield of -0.89%, just the second time that yields have turned negative. Demand for the securities came in at 2.81x the total value of the offer." TIPS Buyers Get Negative Interest Rate - 24/7 Wall St. I can't think of a safer place on the planet for my hard earned savings. Please, let me PAY you to keep my investment.
This is really F'd up. "What would you do if you came across someone on the street that had not had anything to eat for several days? Would you give that person some food? Well, the next time you get that impulse you might want to check if it is still legal to feed the homeless where you live. Sadly, feeding the homeless has been banned in major cities all over America." Feeding The Homeless BANNED In Major Cities All Over America. Total control state is slowly but surely taking over. My theory - do they want the homeless in their cities? Of course not. So, if you can't kill them or ship them out, you quit feeding them and they go away (one way or the other).
STB has been telling you for years a cashless society is coming. They want to track every purchase no matter how small for control and economic purposes (can you say eliminating tax evasion and maximizing tax revenues?). Can you say TOTAL CONTROL over you as a subject to the system? Were you a bad boy? Say something anti government - try using your cash card now bitch! They can turn you off with a keystroke. "The decline of cash is noticeable even in houses of worship, like the Carl Gustaf Church in Karlshamn, southern Sweden, where Vicar Johan Tyrberg recently installed a card reader to make it easier for worshippers to make offerings." Sweden moving towards cashless economy - CBS News
This flew way under the radar, but even if a rumor, a possible coup in China is a big deal. "The comments included rumors of the downfall of the Shanghai leadership faction and a possible “military coup,” along with reports of gunfire on Beijing’s Changan Street. The reports were quickly removed by Chinese censors shortly after postings and could no longer be accessed by Wednesday. The unusual postings included reports that military vehicles were sent to control Changan Street, along with plainclothes police officers and metal barriers." Inside the Ring: Beijing coup rumors - Washington Times
Picking on Obummer -
If you missed my You Need To Be Afraid, Really Afraid - The Government Is Taking Over Everything post the other day, you need to read it. You see the question is arising, why here? Why are all of these nasty, socialist and oppressive laws and measures being dictated at this time? Why the DOMESTIC focus? What's coming that they know about and are preparing for that we do not know?
I highly suggest you read What Is President Obama So Afraid Of? | ZeroHedge. "Taken in conjunction with the NSA’s new Utah spy center (which will collect and archive the complete contents of every email, tweet, Facebook post, Google search, phone call, and text message) and the National Defense Authorization Act, it’s clear that the Obama administration is expecting trouble from within."
Is challenging his qualifications a threat? Is Barry (you know, our residing illegal Indonesian president) qualified to be president? The birther crowd seems to think not and the LEGAL evidence is piling up against the man who is running for reelection. "“America’s toughest sheriff” says there is “tons” more potentially shocking information on Barack Obama in connection with his probe into the president’s eligibility, and he calls the media’s suppression of his findings of a likely forged presidential birth certificate and Selective Service Card “probably the biggest censorship blackout in the history of the United States.”" Sheriff Joe: ‘Tons’ more shocking Obama info. I can't wait for Sheriff Joe to start releasing some real dirt (not like proof that his Social services and Birth Certificates are proven forgeries (legally) is not big enough.
How shady is Barry's background? Try this out for starters, "Did the parents of former Weather Underground terrorist Bill Ayers help finance Barack Obama’s Harvard education?" Postman: Ayers family put ‘foreigner’ Obama through school. Note "The Weather Underground was an American radical left organization" Weather Underground - Wikipedia, the free encyclopedia.
Much more on this to come.
Watch this for giggles - This is some pretty wild but true stuff - Obama Seizes Control Over All Food Production Under Executive Order: Mike Adams Reports - YouTube
GL and GB!