Showing posts from January, 2010

Credit Revolt of Ann Minch


The Taliban Went to Texas and Refused a Pipeline.

It appears that the Bush administration even refused to negotiate because they had something up their sleeves, namely the facilitation of 911. At any rate, the Afghan war is a pipeline war and remains so today. clipped from Fact: The WTC was bombed right AFTER Bush-Taliban oil
pipeline talks soured.

Basel 3 Accord is Near.

What Basel 3 is is a tight money policy. It is similar to Basel 1 but quite different from Basel 2 that allowed loose money and a lot of off balance sheet banking, leading to the ponzi housing scheme in America. See also: clipped from The
Basel iii Accord is near

Deflationary Pressures are rising

Inflationary pockets to be sure, but America cannot afford inflation with the debt load they have. clipped from “Actually our gas and electric went down. There are pockets of inflation and there is asset inflation. But over all, there is a deflationary pressure caused by 3 things. 1. Unemployment 2. deleveraging from unreasonable credit levels by households 3. baby boomers are hunkering down. The party is OVER for them if they don't save.

Well Well, Retail Sales Down In December

Remember all the hype about how well holiday sales were doing? I guess they were wrong. And of course my last blog post was about how even these numbers are too rosy. Makes you wonder if there will be a double dip recession with all the downward pressure of deleveraging and loan unwind.
clipped from
Jan. 14 (Bloomberg) -- Sales at U.S. retailers
unexpectedly fell in December following a bigger gain than
previously estimated the prior month, highlighting the risk
that the largest part of the economy will be slow to recover.

Don't Trust the Retail Sales Numbers

Retail Sales Numbers do not take into account store closings and the numbers are too rosy.
clipped from
My issue with government statistics is that, for example, third quarter GDP is about to be revised down from 3.5 percent to 2.8 percent and now down to 2.2 percent. That is huge. We also know that tax receipts are way down for the states, declining 9.2 and then 8.5 percent in the most recent data. These two facts, coupled with the store closings, make the government's stats regarding flat or slightly increasing sales suspect to me and even a boldfaced lie.