08/08/2011

2011 Stock Market Crash: Same footage, different script

By John Galt August 8, 2011 23:30 ET There is this strange, suicidal, insane belief by the Bubblevisionistas and their talking heads that there “has” to be a dead cat bounce or counter-trend rally because the XYZ index is way, way oversold. From a basic, non-extraordinary, within the standard deviation move of any market, that is a perfectly logical conclusion. Technically speaking every major US equity market is over sold, however, NOT every stock within those averages are in the same condition. In major bear markets, which this past decade plus…



8/8 V of Galt: TPF is near the Maximum

By John Galt August 8, 2011   The PUCKER FACTOR on a scale of 1-10 is now at: Tune in to find out who lives, who dies, and why the market action was so destructive that a recession would be the best outcome America and Europe could hope for.   To call into the program dial: (877)213-6404 or (812)307-4363. Just click on the banner below to find the various audio players to listen or to participate in the chat room with like minded Americans.


Ultimate Support Levels for the Dow Or Else

By John Galt August 8, 2011 -15:42 ET With the Dow down over 539 points as I type this, I thought everyone might want to start paying attention to the proverbial Dow support levels for the short and intermediate term. The problem with a vicious bear market is that everyone thinks that oversold conditions can not get more oversold. We are witnessing extremes at this time but to amplify the problems are distortions created by monetary policy in the U.S. and Europe and a lack of a clear path to prevent…



Fannie and Freddie join the S&P Slaughter

By John Galt August 3, 2011 – 10:24 From Standard & Poor’s, full press release available by clicking on the title and registering: Ratings On Select GREs And FDIC- And NCUA-Guaranteed Debt Lowered After Sovereign Downgrade On Aug. 5, 2011, Standard & Poor’s lowered its long-term sovereign credit rating on the United States of America to ‘AA+’ from ‘AAA’. As a result, we have also lowered the long-term issuer credit ratings and related issue ratings on select government-related entities (GREs) to ‘AA+’ from ‘AAA’. The issuer credit ratings of these financial…



And now the S&P Downgrades REALLY Accelerate: TLGP, FDIC Notes, and More

By John Galt August 8, 2011 – 09:50 ET There is no possible way I could post all of the downgrades in an efficient nor legible manner but if you wish to read them, follow the link below and subscribe for free to Standard and Poor’s press releases and ratings actions: Standard and Poor’s Website Anything with a government backing TLGP, FDIC, tax-exempts, or any other government backed guaranteed note is being cut from AAA to AA+. Buckle up ladies and gents, we’re in for a wild ride.


S&P Ratings Bloodbath Accelerates

By John Galt August 8, 2011 – 09:35 ET From Standard & Poor’s Press Release: Ratings On The U.S. Central Securities Depository And Three Clearinghouses Lowered Following U.S. Sovereign Downgrade Standard & Poor’s has lowered the sovereign credit rating on the United States of America to ‘AA+’ from ‘AAA’. We have lowered the long-term counterparty credit ratings on three independent clearinghouses and The Depository Trust Co., the U.S. central securities depository, to ‘AA+’ from ‘AAA’. The long-term ratings on the U.S. exchanges and clearinghouses are constrained by country risk exposure. This…


Monday Must Read from Paul Farrell at Marketwatch

By John Galt August 8, 2011 09:02 ET Paul Farrell at Marketwatch.com offers up a sharp, stunning, and hard hitting commentary which ties historical reality into the current disaster we are enduring as a nation where it was accurately stated that “America is coming apart at the seems.” Read the entire commentary by clicking on the title below: 2011-2020: Decade of U.S. economic hell More bad news for ‘America’s Worst Decade’ The final paragraph is the stunner: Warning, in short, that we’re headed into a perfect storm rivaling the disastrous political…


Think Carbon Taxes are Irrelevant? Read This

By John Galt August 8, 2011 08:37 ET The United States is currently in the courts of Europe battling the imposition of a tax that the regime in D.C. attempted to impose on its own citizens, yet finds unacceptable when another government penalizes our business community. Of course I am referring to the EU’s insane carbon tax which is being forced on international airlines for the transgression of burning aviation fuel on flights into and out of their bankrupt delusional paper union.  While American carriers will simply make it cost prohibitive…


MUNICIDE UPDATE: AAA Ratings for Munis on review by S&P

By John Galt August 8, 2011 – 08:18 ET In 2008 I penned an article titled “Municide” (click on title to read) which outlined the danger for municipalities, counties, and states which created their future budgets based on totally unrealistic economic projections based in large part on the real estate bubble. The process has been slow, grinding, and delayed thanks to a Federal government bailout in 2009, but it is continuing with many localities teetering on the edge of disaster but now without the states having the ability to bail them…


The Eurozone enters Bear Market Territory

By John Galt August 8, 2011 07:41 ET For their sake, I hope they don’t smell like fish. The charts this morning are a lot uglier than I thought they would be but the Teutonic nations who are bailing out Southern Europe are going to be hard pressed to raise the trillions of Euros necessary for the bailout if their stock markets are any indication of future economic activity. Are these nations sending a message to our markets that our future is just as bleak? Time will tell… (Click on charts…


AEP: The World has Run out of Options

By John Galt August 8, 2011 From this morning’s print edition of the UK Telegraph, click on the title to read the article in full: The World has Run out of Options The Great Reprieve is exhausted. The world has used up the three years’ grace gained by extreme stimulus after the debt bubble burst in 2008. By Ambrose Evans-Pritchard U.K.Telegraph 10:00PM BST 07 Aug 2011 This time we face the risk of double-dip recession without shock absorbers. Interest rates are already at or near zero in much of the OECD…


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