Saturday, January 16, 2010
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.
Friday, January 15, 2010
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: http://bank-abuse.com/BankScamTimeline.html
Thursday, January 14, 2010
Inflationary pockets to be sure, but America cannot afford inflation with the debt load they have.
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.
Jan. 14 (Bloomberg) -- Sales at U.S. retailers
Retail Sales Numbers do not take into account store closings and the numbers are too rosy.
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.