Monday, June 14, 2010

Indications: U.S. stock futures climb on growth hopes

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By Steve Goldstein, MarketWatch

NEW YORK (MarketWatch) -- U.S. stock futures rose solidly Monday as confidence returned that global growth won't be curtailed by the European debt crisis, helped in part by an upbeat economic report from the euro zone.

Futures for the S&P 500 /quotes/comstock/21z!i1:in\x (SPX 1,098, +6.30, +0.58%) added 9.3 points to 1,094.30 and Nasdaq 100 futures advanced 16.5 points to 1,859. Futures on the Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed (DJIA 10,261, +47.99, +0.47%) rose 75 points.

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Eurostat said earlier that euro-zone industrial production climbed 0.8% in April, or a 9.5% year-on-year increase. On an annual basis, industrial production rose in every euro-zone country except Greece and Ireland.

The Dow industrials closed 2.8% higher last week, to snap a three-period losing run. Despite disappointing U.S. retail sales, a lack of bad news from Europe helped contribute to the advance in equities.

St. Louis Fed President James Bullard, speaking overnight in Tokyo, said he expects an Asian-led world economic recovery to continue, and also said he didn't see evidence of a Chinese bubble. See full story.

"The big picture is that rapid Chinese growth can easily be reconciled with the fundamentals, and so the risk of a sudden slowdown in China derailing the global recovery, while certainly not zero, seems limited," he said, adding he doesn't think the European debt crisis will derail the economic recovery.

Global strategists at Nomura said stock markets have overreacted to negative news, noting the credit markets haven't been as volatile: "The coming earnings announcement season should provide the catalyst for equity investors to focus on the value on offer and for equities to recover."

There was some activity on the merger front.

France's AXA /quotes/comstock/24s!e:cs (FR:CS 13.44, +0.32, +2.44%) is in talks to sell its U.K. life-insurance arm for $4 billion to Resolution /quotes/comstock/23s!e:rsl (UK:RSL 60.30, 0.00, 0.00%) , the companies said.

Closer to home, Cablevision Systems /quotes/comstock/13*!cvc/quotes/nls/cvc (CVC 23.14, -0.26, -1.11%) reached a deal to buy privately held Bresnan Communications for $1.4 billion and announced a $500 million stock-buyback plan.

And Mosaic Co. /quotes/comstock/13*!mos/quotes/nls/mos (MOS 45.25, +0.01, +0.02%) , the Plymouth, Minn.-based producer of phosphate and potash fertilizers, is discussing the possible acquisition of Mexican fertilizer producer Grupo Fertinal SA in a deal valued at as much as $1 billion, people familiar with the matter told The Wall Street Journal.

Meanwhile, Onyx Pharmaceuticals /quotes/comstock/15*!onxx/quotes/nls/onxx (ONXX 23.91, +1.08, +4.73%) may be active after it and partner Bayer said a late-stage trial of Nexavar showed the drug wasn't successful in prolonging survival in lung cancer patients.

BP /quotes/comstock/13*!bp/quotes/nls/bp (BP 31.88, -2.09, -6.15%) dropped nearly 4% in premarket trading as the oil giant's board of directors was due to meet to discuss dividend payments, and as the Obama administration over the weekend called for the BP to set up an independent escrow account to pay claims to those affected by the oil spill.

With markets in Australia, China and the Philippines closed, stocks in Asia were generally stronger, with Tokyo's Nikkei 225 Average up 1.8% and the Hang Seng Index up 1.2% in Hong Kong.

In early afternoon trading, the Stoxx Europe 600 benchmark climbed 1.1%.

In commodities, crude-oil futures rallied on near the $76 a barrel mark, while gold futures were treading water.

In currencies, the euro /quotes/comstock/21o!x:seurusd (CUR_EURUSD 1.2238, +0.0113, +0.9320%) climbed, rising 1.2% to $1.2253.

Steve Goldstein is MarketWatch's London bureau chief.

NYSE Arca Morning Update - 08:30:00 ET

NYSE Arca Morning Update for Monday, Jun 14, 2010 :


Stock Friday's Close Current Price Pct Change Current NYSE ARCA Vol
No symbols with at least a 15% price change today


Stock $ Volume Price PctChg | Stock Share Vol Price PctChg
SPY $64,746,381 $110.41 0.7% | C 2,769,980 $3.93 1.6%
BP $23,797,803 $32.87 ( 3.2%) | BP 722,985 $32.87 ( 3.2%)
AAPL $12,983,901 $256.03 1.0% | SPY 586,821 $110.41 0.7%
GLD $11,624,750 $119.62 ( 0.3%) | YRCW 527,300 $0.25 9.9%
C $10,860,127 $3.93 1.6% | QQQQ 196,621 $45.87 0.8%
QQQQ $9,008,607 $45.87 0.8% | ABK 139,836 $0.66 ( 4.9%)
IWM $8,175,413 $65.66 1.0% | F 126,055 $11.54 1.2%
EEM $2,646,237 $39.23 1.2% | IWM 124,505 $65.66 1.0%
LVS $2,182,383 $26.29 2.2% | CTIC 121,512 $0.56 25.2%
CS $2,116,198 $40.30 2.2% | GLD 96,920 $119.62 ( 0.3%)

Price changes may be affected by symbol splits and dividends.

Consolidated close price is the last print (excluding prints with trade
conditions) prior to 4PM ET.

This information is also updated on our web page every morning at 8:35ET:

This material is for informational purposes only.
NYSE Euronext and its affiliates ("NYSE Arca") are not soliciting any action based upon it.
This material is not to be construed as an offer to buy or sell any security in any jurisdiction where such an offer or solicitation would be illegal.
Any opinions expressed in this material are NYSE Arca opinions only.
NYSE Arca undertakes no obligation to update any of the information contained in this material in light of new information or future events.

Copyright [2010] by NYSE Euronext. All rights reserved. Reproduction and redistribution prohibited without prior express consent.

Deflationary Depression and Purging To Come

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We believe an inflationary depression began in February of 2009, and little has changed. Since then factory output has increased, as have inventories and other outward signs, such as retail sales. We believe that one-year spurt is ending, unless a new stimulus program is put in place. This past week we saw a $78 billion addition to unemployment benefits and Larry Summers has said they need an additional $200 billion. In order to keep the economy going sideways a total of another $800 billion will be needed. The Fed may have cut back the creation of money and credit to zero, but it is still dishing out trillions to domestic and foreign banks, which can only affect the domestic economy in a residual way. The key is real personal income. Including government programs it has fallen $500 billion over the past 16 months. In addition real unemployment remains at a high of 22-3/8%. That is U-6 less the birth/death ratio. This terrible dilemma is a first and is surprising in as much as government addition to income has gone past 18% for the first time ever. We expect that part of the reason for both situations is the perpetual drag of free trade, globalization, offshoring and outsourcing, which has continued unabated.

There is no question that the $800 billion stimulus has come to an end. During the past 16 months $200 billion of that $800 billion has shown up in consumer spending. The rest has raced through the economy and the result is a budget deficit in the vicinity of $1.8 trillion.

Over the past several months we have seen a decreasing number of new unemployed, but last month those official figures rose. That to us was the signal that the growth in employment had ended as well as the mini-recovery. We will know better the situation when May’s figures are released. The small increase in non-farm payroll tells us our appraisal of offshoring and outsourcing is correct. We predicted the effects of offshoring and outsourcing in 1967, but, of course, no one was listening.

Small business’ contribution has been zero. Many of these businesses are failing and most cannot get loans. We expect that condition to persist indefinitely, which means job stability is nowhere to be seen in the immediate future. In spite of bogus government figures the economy is not growing and won’t grow. Unless the system is totally purged in a classic way there will never be any recovery.

Sooner or later the deflationary depression and purging will come. The economy is stagnant and that is with an $800 billion stimulus program and $2.3 trillion in spending by the Fed, some of which had to have entered the economy. Just think of where we would be without both additions. With stimulus, over the past year, we have only seen an average of 2.38% growth. This is certainly a very weak “recovery,” especially in view of the tremendo us amount of money and credit injected into the economy.

As a result excessive spending is over. Over 70% of Americans expect to be savers and to lower their credit card balances; that is those who are still employed. We see consumers back at about 70% of GDP. Without stimulus we see much lower figures; with stimulus only 68% at best can be maintained.

Manufacturing is climbing yet employment in the sector is stagnant. That means people are working much harder to keep worker productivity at a very high abnormal level. This is all well and good, but who will buy the products produced? Exports did well through March, but we have to believe the much stronger dollar will make US exports at least 15% more expensive and those of the euro zone 15% less expensive. Exports make up 20% of GDP.

Even with auto and appliance incentives sales are still under the weather. We have also just seen an end to housing purchase incentive s. All indications are we are headed toward a flaccid economy without major stimulus. Business will find out again how dangerous it is to listen to your government. The residential housing inventory is again going to build this time to a real three-year inventory overhang. We expect 20% lower prices over the next year. These are not the things recovery is made of.

As we look forward we see money supply plunge to the same levels of the 1930s. This is the same thing the Fed did between 1929 and 1933. We have zero interest rates, but they really only help the large borrowers and those with AAA ratings. In the first quarter $300 billion was removed from the economy, or a contraction of 9.6%. By the way that proves the upward move in gold and silver have not been the result of anticipated inflation, but by other factors, such as Europe’s problems. We cited the fall a year ago of European M3 and M4 like figures, and as usual, no one was listening. We, as you can see, have had the same result in the US. These reductions obviously were well coordinated. In addition, the assets of institutional money market funds have fallen at a 47% rate, the sharpest drop ever. Part of this Fed move is for banks to raise capital asset ratios as the Fed removes and overpays them for their toxic assets, which the taxpayer gets to pay for. That in part is why banks won’t lend to small and medium-sized companies, and this is why there cannot be a recovery. The banks, Wall Street, and insurance companies are selectively being bailed out, irrespective of the consequence to the US and European economies. Unfortunately, we are following the path of the “Great Depression.” That means gold and silver are being purchased in a flight to quality. Yes, we believe inflation is on the way in bigger numbers, but unless things change dramatically it won’t be long before that inflation is overcome and deflationary depression takes hold.

As you have seen the titans of banking and Wall Street savaged the market on 5/6, and again are in the process of doing so, to convince Congress not to audit the Fed and to give it tyrannical monopoly powers to run America. Congress is being threatened. They are being shown the power of the Fed and its owners, if they do not do what they are being paid to do. It shows you the power of Goldman Sachs, which controls 72% of all NYSE trades and can move the market at will by front running all orders and by restricting all credit into the system. Isn’t this what derivatives are all about? They totally control all markets and it has to end. That is why you have to unseat almost all the incumbents in Congress and the Senate and bring this monopoly to an end. The Working Group on Financial markets” has to be disbanded and “Executive Orders” have to be terminated. The “Imperial Presidency” has to end if we are to continue to have a democracy. How can you have markets reco vering every time they fall, as if by magic? You cannot have manipulation of markets, as we have experienced in gold and silver since 1988. We wrote our first article on the subject in August 1988 in the “Bull & Bear,” which David still publishes. How can we continue to have SEC authorized rule breaking by allowing naked shorting?

How can we allow corporations to carry two sets of books and mark assets to model? What is wrong with American businessmen and our representatives? They allow this to go on supposedly for the better good, as they stuff their pockets with cash. Now they want to allow a Federal Reserve monopoly, what is wrong with these people? What has happened to our country? The Illuminists who run our country from behind the scenes do whatever they please and it has to stop. Our country has become the laughing stock of the world, as Europeans and Asians, as well as Latin Americans rush to buy gold and silver. They cannot get rid of dol lars and euros fast enough. Obviously some people are waking up, but not more than 2% of Americans. In Wall Street and banking if you do not roll with the establishment you get destroyed. Look at what we have had to put up with for 50 years. Look at what happened to Bear Stearns, Lehman Brothers and countless others who you have never heard of. Most people on Wall Street know what is going on, but they won’t talk about it. They do not want to be ostracized or run out of business. We as well can assure you Wall Street and banking owns the SEC, CFTC and most of the House and Senate.

It was a year and one-half ago we told you that $800 billion in stimulus wasn’t enough. That is now proving to be the case. Get ready for another liquidity barrage, called quantitative easing. It will also mean real interest rates will rise again. The backbone of most all nations of the world is debt not gold, silver or a basket of commodities. Greece is being blamed, but all told, 19 nations are on the edge of bankruptcy. In fact, central banks in these countries are among the biggest speculators. In the euro zone countries cannot print money so they sell bonds in spite of the rules of the bailout. Many are having a hard time selling bonds. Thus other nations are secretly doing so.

There is talk of another Northern European currency backed by gold. If that happens the dollar will fall because it won’t be able to compete. Those in the southern tier will have to return to their own currencies and do as Argentina did ten years ago. Those long dollars do not get too comfortable. The corporatist fascist corrupt model will fail because it is already bankrupt, as will many other countries.

Last week was another mixed week for most markets. The Dow fell .06%; S&P rose 0.2%; the Russell 2000 rose 1.9% and the Nasdaq 100 rose 1.6%. It was a week of “Hail Mary” finishes. That is averages reversing in the last hour of trading. Broker/dealers rose 0.2%; cyclicals 1.7%; transports 2.2%, as consumers fell 0.5% and utilities 0.1%. High tech rose 1.2%; semis 1.9%; Internets 1.7% and biotechs 1.1%. Gold bullion rallied $37.00, the HUI 5% and the USDX rose 1.7% to 86.78.

Two-year T-bills fell 1 bps to 0.75%; 10-year notes 5 bps to 3.30% and the 10-year German bund 2 bps to 2.68%.

Freddie Mac 30-year fixed rate mortgages fell 6 bps to 4.78%; the 15’s fell 3 bps to 4.21%; one-year ARMs fell 5 bps to 3.95% and the 30-year jumbo rose 5 bps to 5.64%.

Fed credit fell $15.3 billion to $2.324 trillion, up 11.6% ytd and 12% yoy. Fed foreign holdings of Treasuries and Agency debt jumped $9.6 billion. Custody holdings for foreign central banks rose $111 billion ytd, or 9.3% or 12.6% yoy.

M2, narrow, money supply rose $43.9 billion to $8.573 billion.

Money Market fund assets rose $5.2 billi on to $2.849 trillion. Year-to-date funds are off $444 billion, after a 1-year decline of $940 billion.

The House passed a bill on Friday that would end a tax break for executives of investment funds, leaving hedge funds, private equity firms and venture capitalists scrambling to ease the effects of the bill before it is taken up by the Senate next month.

It seeks to change the tax treatment of “carried interest,” which is the portion of a fund’s investment gains taken by fund managers as compensation. Under current rules, carried interest is taxed federally at a rate of 15 percent because it is treated as a capital gain. That contrasts with the tax rate on ordinary income, which can be as high as 35 percent.

So, it appears that wise-guy welfare might be repealed. However, wise guys made one of their best investments ever by bribing Congress with hundreds of millions of dollars. In return, wise guys garnered tens, if not hundreds, of billions of dollars in compensation.

Companies sold the least amount of bonds in a decade this month as concern Europe’s sovereign debt crisis will slow the global economy drove up relative borrowing costs by the most since the aftermath of Lehman Brothers Holdings Inc.’s collapse.  Borrowers issued $66.1 billion of debt in currencies from dollars to yen, a third of April’s tally and the least since December 2000.

Yields on junk bonds rose to the highest since December relative to Treasuries. Spreads widened 27 bps yesterday to 724 bps, the highest since Dec. 9. That’s up from a low this year of 542 basis points on April 26.  High-yield debt has lost 4.6% in May, on pace for the first drop in 15 months. ‘We’re seeing high yield under a lot of pressure here,’ said Nicholas Pappas, the co-head of flow credit trading in the Americas at Deutsche Bank. ‘There is a flight to quality to solid investment-grade companies.’ The percentage of corporate bonds considered in distress surged this week to the highest since 2009 as investors dumped debt of the neediest borrowers.  Some 17% of junk bonds yield at least 10 percentage points more than Treasuries, up from 9.2% last month. The jump is the biggest since the distress ratio rose 11 percentage points in November 2008.

The U.S., Spain and Greece are among developed nations whose borrowings put them in a ‘ring of fire’ amid sovereign debt concerns, said Pacific Investment Management Co.

The Netherlands has experience with controlling water: 2,000 miles of dykes preventing the sea from flooding the country's nether regions have taught the Dutch a thing or two about hydroisolation and spillover control. Unfortunately, as the last 40 days or so demonstrate so amply, neither the US nor the UK have the faintest clue how to stop the GoM oil spill which is now entering into the realm of the surreal. Which is why it may be time to learn from those who do know something about the matter. Zero Hedge has received the following proposal from Van Den Noort Innovations BV, which asserts it can get the GoM oil spill under control within days, and it doesn't even involve nuking the continental shelf.

The US ISM Manufacturing index fell to 59.7 in May from April's 60.4; remaining above market expectations of a decline to 59.0. The Prices Paid index fell to only 77.5 from last month's 78.0, an upside surprise on an expected fall to 72.0.

Construction spending in the U.S. rose in April by the most since 2000 as demand related to the end of a tax credit spurred builders to break ground on more houses. The 2.7 percent increase brought spending to $869 billion, after a revised 0.4 percent gain in March that was more than previously estimated, Commerce Depart ment figures showed today in Washington. Economists projected no change for April, according to the median forecast in a Bloomberg News survey.

Sales boosted by a government incentive of as much as $8,000 helped reduce the number of unsold new houses in April to the lowest level in more than three decades, spurring housing starts. While government construction also increased for a second month, spending may be limited by tighter state and local budgets.

“The turn in housing is encouraging,” Michael Englund, chief economist at Action Economics LLC in Boulder, Colorado, said before the report. “We’ve cleared away enough new homes inventories that at least we can add some construction. Non- residential construction is still quite weak.”

The gain in April was the biggest since August 2000. Estimates of 53 economists surveyed by Bloomberg ranged from a drop of 1 percent to an increase of 2 percent, after a previously estimated gain of 0.2 percent in March.

Construction spending decreased 11 percent in the 12 months ended in April.

Private construction spending rose 2.9 percent, the most since July 2004. Homebuilding outlays jumped 4.4 percent, the biggest gain since October 2009. Private non-residential projects increased 1.7 percent, the most since September 2008 and led by factories and power facilities.

The IMF has announced its gold reserves declined to 2,966.4 in April from 2,981.5 tons in March, a 15.1 ton decline. And while the IMF sold well over half a billion worth of gold in April, Russia was once again taking advantage of what some are calling fire sale prices, bulking up its gold holdings by 5 tons, which increased from 663.7 to 668.7. Russia has now been adding gold every month since February. As has long been known, in 2009 the IMF announced it would sell 403.3 tons of gold, of which 212 was pur chased in prearranged deals by India, Mauritius and Sri Lanka. This means the IMF, after accounting for all disclosed sales, has 152.1 tons of gold left to sell from its original quota. Bloomberg discloses who has been doing the most buying recently: "Central banks and governments added 425.4 tons last year to 30,116.9 tons, the most since 1964 and the first expansion since 1988, data from the World Gold Council show. Official reserves may expand by another 192 to 289 tons this year, according to CPM Group, a research and asset-management company in New York." Keep your eyes on Russia: "Russia’s central bank bought 142.9 tons of gold last year, raising its holdings of the metal by 29%, RIA Novosti reported last month, citing Bank Rossii’s annual report submitted to parliament.

Tuesday spot gold rose $12.70 to $1,224.80, as July rose $12.40. Spot silver rose $0.13 to $18.54, as July rose $0.01. Gold traded as high as $1,229 in London. Physical gold di ctated prices in spite of strong selling. Gold open interest fell 10,394 contracts to 547,525. Silver OI rose 472 contracts to 120,952. The HUI traded higher earlier, but the outside month for silver just couldn’t hold its gains. The HUI fell .69 to 454.39, whereas it should have been up about 8 to 10 points. The XAU lost .91 to 173.02. Government was again unsuccessful in suppressing gold. They brought the Dow back from minus 150 to plus 80 to off 112. The S&P fared worse, off 168 and Nasdaq 208 Dow points. The euro hit a low of $1.21, and Larry Summers stepped in and drove it back up to $1.23. It closed off .0088 to $1.2236. There was plenty of bad news. Israel, Turkey, Syria, Iran, China, North and South Korea, Greece and most of Europe; then in California, Illinois, Pennsylvania and many other states. Canada raised interest rates. Italy is even being questioned regarding their financial situation. One European bank sold 3,645 ounces of gold last week worth 3 millio n euros. The IMF again sold 14.4 tons of gold in April. They said they would never sell into the market. This shows you what their word is worth. Wholesale premiums on British sovereigns have jumped from 3.5% to 7% in just one month.

The yen fell .0036 to .9106; the pound rose .0158 to $1.4646; the Swiss franc fell .0003 to $1.1564; the Canadian dollar fell .0024 to $.9485 and the USDX rose .20 to 86.79. The 10-year T-note closed at 3.30%.

Oil fell $1.70 to $72.27, gas fell $0.04 to $1.98 and natural gas fell $0.11 to $4.24. Copper fell $0.06 to $3.05, platinum fell $0.90 to $1,548.50 and palladium fell $3.85 to $453.45. The CRB Index fell 2.41 to 252.39.



Gold at $36,000 Not as Ridiculous as It Sounds? | May 26, 2010 | 07:20 AM EDT

Gold has reached record highs in recent weeks, but it will continue to rise, Ben Davies, CEO of Hind e Capital told CNBC Wednesday.

Gold should be viewed not as a commodity, but as a cash supplement, Davies said.

“There’s been such proliferation of currency,” he said. “As a consequence, gold is very undervalued.”

“I could be really obtuse and say $36, 000,” he said. “But actually it’s not as ridiculous as it might sound.”

If all the reported Fort Knox gold was re-valued at $36,000 per ounce, it would pay off all the debt in the US, he said.

On Monday, Dennis Gartman reversed his call for gold investors to rush to the exits, saying the precious metal was no longer overbought, but also warned that it was a technical call and he is "not a gold bug."

Davies argued that as the money supply increases, gold will see an increase in use as currency, boosting demand. Emerging markets will also buy gold to increase reserves, he ad ded.

Great dynasties in history have come out of crises with large amounts of gold to use in the markets to buy cheap assets, Davies said.

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Wed, 2 Jun 2010 00:00:00 PSTFiat Money And Schemes Collapsing Goldman Sachs will get a hand slap, the Greek Tragedy continues, signs of growth not real, more market manipulation to report on, never incremental news, a broken system of risk-free trade and return<br />Sat, 29 May 2010 00:00:00 PSTLiquidity Forecast for the World Economies European rescue of economy not unlike the Fed rescue, war a real threat, echoes of the loss of the gold standard, another reflationary wave to come, currencies to succumb, consequences of Europe for Americans, US banking system under significant stress, new T-bills to sell, election funding changes, more about real property defaults... Wed, 26 May 2010 00:00:00 PSTNews Release <p class="quote">May 21, 2010</p> <p><strong>Athabasca Work Commences/Margarita Gold Project Overview</strong></p> <p><strong>HELLIX VENTURES INC. - HEL:TSX.V/HLLXF:OTC </strong>- Vancouver, BC- Frank Underhill, President, announces that the work program on the Athabasca has been initiated in the Nelson area of British Columbia. In addition, an overview of the recently optioned Margarita gold project is detailed.</p>Sun, 23 May 2010 00:00:00 PSTDysfunctional Markets That Change Every Hour markets too hard to follow, Euro bailout continues to fail, Fed the source of liquidity for ECB, Bank failures and home losses continue, layoffs rise, Goldman Sachs likely to payout for SEC suit, California pension pressures, deflation fears, <br />Sat, 22 May 2010 00:00:00 PSTDow Drop Likely Caused By Intentional Liquidity Cutoff A bleak second half for stocks, Terrible cuts for California, a set of justice in the form of liquidity controls, November elections are coming, please remember, no stability in world markets, 43.9 trillion in derivatives positions of US commercial banks and trusts... Wed, 19 May 2010 00:00:00 PSTThe Morality Of The Financial Monetary System Is Really What is Broken The Obama-Dodd-Frank Frankenstein Fed Big Bankster Bailout Bill, schemes and frauds went on for too long, bring back the Glass-Stegall Act, Vampire squids run the economy, alternatives to the financial establishment are threatened with regulations, reform bills are toothless...<br />Sat, 15 May 2010 00:00:00 PSTEurope and America Morally and Financially Bankrupt Greece Bailed out, 19 more nations to go, Greeks not ready to submit to austerity, Gold is the antithesis of Fiat money, fals hope for jobs, Goldman Sachs under investigation, but they make money every quarter regardless... Wed, 12 May 2010 00:00:00 PSTThe latest Greek tragedy And Sovereign Defaults Pose A Great Threat The latest Greek tragedy continues to leave carnage in its wake, crime compounds the debt problems, Problems everyone knew about nobody did anything about, the Sovereign debt bubble is now upon us, and could bring the world financial system down, a situation like the French Revolution in Greece, food stamps at a record high, unemployment and problems of poverty in the US,&nbsp; Sat, 8 May 2010 00:00:00 PSTGold Is A Good Bet When Sovereign Nations Are Imploding Get physical gold, real shortages in physical metals affect market activities in strange and interesting ways, pressure on Goldman Sachs in time for the election, hand slaps for the destroyers of economies, paper interests are folly, metals due for a moon shot... Wed, 5 May 2010 00:00:00 PSTA Financial Conflagration Of Immense Proportions Fiat money buckling, an inflationary depression, years of reckless spending, Greek debt unpayable, Euro zone in jeopardy, a loss of integrity in US markets, criminal charges for Goldman Sachs, side pockets a new hedge fun trick, Banks on subprime offensive, Fed works the printing presses overtime...<br />Sat, 1 May 2010 00:00:00 PSTBig Problems With Who Should Regulate Goldman Sachs Staff surf porn regularly, Greek crisis explains why gold is better, Fed getting too much power over peoples financial lives, bad financial instruments will remain untouched, public fury against the Fed and Wall Street, vast ponzis still in play in the market, Wall st may still be looting the public... Wed, 28 Apr 2010 00:00:00 PSTFrauds And Scandals Follow The Collapse Of The Financial System The collapse of the financial system is under way, a giant debt that will never be repaid, deliberate destruction of the economy, bailouts a part of the manipulation of the markets, More creative forms of destruction for the economy, Wall street a criminal enterprise, Goldman CEO visits the White House, often, another giant Ponzi in Florida... Sat, 24 Apr 2010 00:00:00 PSTScandals Signal The Demise of Our Financial System The line up goes down the block and around the corner for prosecutions against Goldman Sachs, Sovereign debt looms large, 8 more banks close, scandals in the financial sector continue to erupt everywhere, the public picks up the bills, we face a staggering depression, anger grows against wall street, a plan for permanent bailouts only favors the rich and corrupt.Wed, 21 Apr 2010 00:00:00 PSTDont Look to Banks To Solve The Problems In The Economy Not much effort being made to solve problems in economy, money borrowing causes servitude to banks, Fed policies weaken sovereign nations, millions to lose their home this year, insolvency becoming a national problem, Goldman Sachs faces civil charges, maybe more, banks not helping homeowners in crisis, spying on email. Sat, 17 Apr 2010 00:00:00 PSTTrillions Pumped In And Little to Show For It Retirement in the worst depression in 60 years, deflation is coming, unemployed face worst odds in over 50 years, IMF specializes in austerity, banks cut lending in anticipation of conditions, Financial Crisis Commission a travesty, a setback for Poland, Florida real estate woes, Greece crisis sparks investor panic, Wed, 14 Apr 2010 00:00:00 PSTSpecial Offer <span style="font-family: Arial"><font size="3">With the current economic conditions you cannot afford to be uninformed.<br />Bob Chapman&#39;s International Forecaster is the foremost in financial and<br />economic newsletters. Published twice a month by surface mail or 6-8<br />times a month by e-mail, you won&#39;t want to miss a single issue of this<br />newsletter. For a limited time</font></span>Wed, 14 Apr 2010 00:00:00 PSTIntervention Is Prolonging Economic Problems For Years Banks only saved themselves not the economy, Greece singled out in the credit default crisis, the plan for a deflationary depression, every nation is in trouble, Greece now in a situation to default, banks continue to mislead, the floodgates open for lobbyists and special interests, lending costs climb, net neutrality suffers by a court ruling, Internet downgraded by court ruling<br />Sat, 10 Apr 2010 00:00:00 PSTA Debt Level Great Enough To Threaten The Dollar Rating Your purchasing power is less and less with every passing day, changes coming to currencies, no end to corruption in government, Wall Street, and banking, US states on the verge of bankruptcy, economic and financial zombies on the old continent, globalization has brought us to the brink of collapse, Interest rate volatility to come soon, US debt far over GDP, property abandoned. Wed, 7 Apr 2010 00:00:00 PSTRecent Growth In Economy Is But A Mirage A smoke and mirrors Economy, a rigged market means you will lose, capital controls now in place, market manipulation is public policy, stock market overpriced by manipulations, no monetary tightening without a collapse, predictions of gains and losses in job markets.<br />Sat, 3 Apr 2010 00:00:00 PSTFailed Banks and Failed Billions Re-flating a dying bubble, Greece and Euro problems fuel world markets, Lehman Bros collosal fraud, a plan to tax banks, bank failures amount to billions, signs of a vanishing recovery.Wed, 31 Mar 2010 00:00:00 PSTCredit Crisis, Outrage, Far From Over Bernanke re-nominated, outrage at banks, insolvency the real state of banks, crime pays when you are at the top, sovereign debt crisis around the world, debt and derivatives products were all just a ponzi scheme, the problem wont go a way when the system is purged, PIMCO Bill Gross warns of inflation, big cutbacks in services... Sat, 27 Mar 2010 00:00:00 PSTA Rise in Unemployment And Moral Hazard To Contend With Bubbles come and go but the Fed remains, derivative madness, no good sense for liquidity, tariffs can turn the world, moral hazard in the media spotlight, fence building now to keep out the drug war in Mexico, flush with cash but actually insolvent...Wed, 24 Mar 2010 00:00:00 PSTThe Impact of Bubbles And The Future of Risk Bubbles of years ago being felt today, why rescue people from their mistakes? Destructive economic processes at work, many countries on the verge of bankruptcy, America now holds debt far beyond its ability to pay back, Debasement the order of the day, Bill Gross of PIMCO looks to developing nations for stability... Sat, 20 Mar 2010 00:00:00 PSTExpose Transgressions and Set Boundaries on Stimulus Packages AIG dragged onto the carpet for publishing falsified debt ratings, fines called for when fraud charges should be laid, white collar crime knows no end, books cooked, real estate downside points to deflationary depression, debt continues to grow, borrowing in the debt market again. stimulus packages knowing now boundaries.<br />Wed, 17 Mar 2010 00:00:00 PSTUS Federal Reserve Dealing in Magic and Secrets Fed makes money out of thin air to solve deflation with inflation, credit crisis continues, frustrations with politicians, not healthy to have over 3 trillion in t-bills held in foreign hands, Fed fights audit legislation, Threats to the Eurozone...Sat, 13 Mar 2010 00:00:00 PSTPondering Our Collapse While We Watch Others Fall The current dollar rally wont endure, questions for the future of the Euro, No collapse of currency overnight, but we see it coming, record low interest rates drive bond purchases, Fed will continue to feed the economy, the threat is deflationary depression, China continues to dump dollars, US in a box, Fannie and Freddie bondholders should not hold their breath, unemployed are also exhausted... Wed, 10 Mar 2010 00:00:00 PSTThe Albatross of Sovereign Debt Sovereign Debt hinders nation states, Interrogations for the Fed to answer, debt burdened California, Fed integrity in question, Gold still a good investment play, unemployment benefits for now, volatile swings in housing demand,&nbsp; Sat, 6 Mar 2010 00:00:00 PSTEconomic Downturn hits Lenders and Borrowers Alike Commercial real estate in trouble, lenders will be hit as hard as borrowers, Greece suffers heavily during downturn, Germany wont buy any more greek sovereign debt,&nbsp; M3 and M4 down to nothing, China remains as largest holder of US debt. IMF comments on US dollar, debt problems in Florida and California, child labor at factories that supply Apple computers Wed, 3 Mar 2010 00:00:00 PSTChicago Resource Expo <font size="2" style="font-size: 10pt">Chicago Resource Expo, April 23rd and 24th, 2010 at the Rolling Meadows Holiday Inn Convention Center in Rolling Meadows, Illinois.</font>Sat, 27 Feb 2010 00:00:00 PST

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