July 2012

A Sad Silent Key as Heathkit is No More

  by John Galt July 31, 2012 19:00 ET     As a true capitalist pig, I do understand how American business functions and when a business concept goes awry or is outdated, the company is usually absorbed or liquidated in bankruptcy. Sadly, this story is a sad silent key for a company that was a part of my childhood as the company which provided thousands of youths with the opportunity to build their own electronics from kits to functioning units is no more, as Heathkit went out of  business this…


Some Olympic Traditions Never Die

  by John Galt July 29, 2012 22:55 ET   It is with utmost sadness and congratulations that I must cast my admiration towards the Soviet Socialist Republic of the United Kingdom with their outstanding 2012 Summer Olympics effort to emulate some of the greatest governments and nations who have hosted the games in the past.   Unfortunately, those governments and the Olympics in question were:   1938 Nazi Germany   1980 U.S.S.R.   2008 Communist China   What does the U.K.S.S.R. have in common with those nations now? Try this…


Why did Rick Santelli Explode on TV today? Maybe it’s idiotic ideas like this…

  by John Galt July 24, 2012 22:00 ET   On CNBC today, Rick Santelli let loose with another epic rant:     Why is he so disgusted? Perhaps it’s idiotic ideas like this one presented by Steve Clemons and Richard Vague in The Atlantic on July 22nd: Economic Growth Idea: Forgive or Restructure Debt U.S. Citizens Hold   Ah yes, the grand social experiment proposed by Marxists for over a century to eradicate the greed and sins of capitalism instead of punishing the stupid and inept who made decisions that…


7.24.12 V of Galt DOOMER TUESDAY: I’m going Santelli Raging Mad

  by John Galt July 24, 2012 18:00 ET My head exploded at 11 a.m. this morning. After scraping the pieces up and duct taping my skull together it exploded again with more blatant Federal Reserve market intervention at 3:50 p.m. this afternoon.   Tonight, I explain the economic disaster we are facing as I go Santelli on your butts.   You have been warned so tune in at 8 p.m. ET by clicking on the link below:   AND PARTICIPATE! Just click on the banner below to find the various…


Spain is Going Greek as the IBEX crashes 4% this morning

  by John Galt July 23, 2012 05:20 ET   The “cured” European Union is experiencing an outbreak of Grecian Flu as now Spain witnesses its 10 year bond yields soaring over 7.5% this morning and the IBEX copying the same pattern of the Athens Stock Exchange with sharp daily crashes and lackluster rallies. This morning it is making a statement along with the EUR/JPY and EUR/USD swaps that this crisis is far from over and unless the U.S. Fed gets involved in coordination with the ECB and IMF, the Euro…


Here it comes: Iranian Assets Activated inside the U.S. for Potential Terror Attacks

  by John Galt July 22, 2012 08:00 ET   The Daily Caller’s Reza Kahlili has broken a fascinating story which unfortunately is quite logical based on current events in the Middle East:   Iranian assets in United States mosques, universities activated for potential terrorist attacks   The disturbing portion of the story is contained in this excerpt:   The regime’s Islamic foundations, such as Al-Ghadir and AhlulBayt, have set up branches throughout the world, including in America, funding mosques and Islamic centers that gather intelligence, recruit and transfer of cash…


If Fukushima is Secured, then why is Japan Looking for an alternate Capital?

  by John Galt July 20, 2012 19:55 ET   The story from the business website Nikkei.com spells out without saying it just how severe the alleged ongoing radiation leaks from the Fukushima Daiichi nuclear disaster really is:   Osaka, Sapporo Eyed As Standby Capital After ‘Big One’   (Excerpted-Click on the link above to read the full story) TOKYO (Nikkei)–A Cabinet Office council has proposed five cities — Osaka, Sapporo, Sendai, Nagoya and Fukuoka — to replace Tokyo as the seat of government should an earthquake knock out the capital….


A HUGE EPA Related Court of Appeals Decision Today

  by John Galt July 20, 2012 19:30 ET     How big is this decision? Let me put it this way:   IF I owned a manufacturing facility impacted by this decision, I would lay everyone off and begin selling the equipment to manufacturers overseas.   IF I managed an electric utility corporation impacted by this decision, I would wait until the temperature hit 100 degrees then shut the impacted plants down and refuse to build any new ones.   The world is following the book, Atlas Shrugged, yet most…



FDIC Friday Returns: 4 Small Banks Fail in Georgia (2) & Florida (now 4)

  by John Galt July 20, 2012 17:45 ET   Too bad the real scum have immunity from failing and the little guys are being harvested. To see the information from the FDIC website, please click on the links below as the real estate depression continues to claim financial victims.   The Royal Palm Bank of Florida – Naples, FL   Georgia Trust Bank – Buford, GA   First Cherokee State Bank – Woodstock, GA   Make that 4 now…. Heartland Bank – Leawood, KS  


Election 2012: Your Choice is Murder or Rape

  by John Galt July 19, 2012 22:30 ET   The 2012 Presidential Election is a nightmare beyond any proportions Hollywood horror writers could dream up or our nation’s Founding Father’s wildest imagination. The choice hit me as I was listening to the proverbial master of “alternative” media, Alex Jones via his Infowars program (available at this link),  where he was interviewing Joseph Farah of WorldNetDaily fame about the upcoming contest.   The ringing endorsement by Mr. Farah to vote for Mitt Romney over President Obama?   “He’s not going to…


HELP! It’s WTF Wednesday on the Voice of Galt

  by John Galt July 18, 2012 17:20 ET     I’m lost.   Romney is wearing that “I LUV MCCAIN” loser badge proudly and acting like the closeted homoRepublican that the other RINOs know and love.   Tim “Let’s hug the Sierra Club” Pawlenty is in the running to be V.P.   Ron Paul is retiring. Bob Barr isn’t running. Hell, there isn’t even a decent John Bircher trying to save our nation!!!!!!!!!!!!   Please. Tune in. Call when prompted to 877-213-6404 OR 812-307-4363 and help your host decide on…


Obamacare in the Year 2017

  by John Galt July 15, 2012 22:30 ET     Imagine it is the year 2017 and what is left of the United States of America after the second term of the Obama regime is over plus three years of the Obamacare implementation has been completed. What would it look like?   Perhaps this report from Sky News and the Sunday London Times will provide a hint:   Doctors ‘Should Accept Pay Cut Or Be Sacked’   This chart from the article above explains the dilemma of government managed care…


Attack of the Islamofacist Tomatoes: Hillary Clinton’s Motorcade Pelted in Egypt

  by John Galt July 15, 2012 21:15 ET   Some stories, like this one from Reuters, are just too good to pass up linking to:   Egyptians pelt Clinton motorcade with tomatoes   <excerpted>   A tomato struck an Egyptian official in the face, and shoes and a water bottle landed near the armored cars carrying Clinton’s delegation in the port city of Alexandria.   A senior state department official said that neither Clinton nor her vehicle, which were around the corner from the incident, were struck by any of…


Goodbye Greece, Hello Hellenic Socialist Republic

  by John Galt July 15, 2012 20:15 ET     The disaster known as the Greek economy and corrupt political system is about to come to a thunderous conclusion where decades of hard Western loyalties and values purchased via post-colonial assistance from Great Britain and the willingness of U.S. President Truman to fund and support the pro-Western elements during the post World War II period. Fifty plus years later, here the world is on a brink of a collapse of modern day central bankster inspired crony capitalism and the ultimate…


07.15.12 AEP: Fed fiddles as America slides back into recession

  by John Galt July 15, 2012 16:05 ET   Ambrose Evans-Pritrchard doubles down on his criticism of the central banksters in tonight’s column in the U.K. Telegraph:   Fed fiddles as America slides back into recession   Is Mr. Pritchard supporting this discussion based on the statements of the ECRI only? From the article he states:   The Federal Reserve has drifted into fatalism, seeming to lose confidence in its own ability to shape events, displaying the same lack of “Rooseveltian resolve” as the Fed in the early 1930s —…


Did Obama’s Family own Christian Slaves?

  by John Galt July 13, 2012 05:00 ET   Despite popular belief that modern Islamic society has “evolved” away from its practices of the past, stories persist about modern Muslim nations tolerating the importation of and of course associated abuse which occurs of non-Islamic peoples being used as slaves.  In fact the United States State Department for years has decried the abuses of Islamic nations using women, children, and non-Muslims as slaves in their modern societies. Historically, this has been an approved practice for minority or infidel religions to be…


“Christian” Professor claims Jesus was a Muslim

  by John Galt July 12, 2012 22:00 ET   h/t Bob Unruh at World Net Daily with the original story at this link   This is the video in question from 2010 referred to in the article above:     And here is the webpage from Luther College in Iowa quoted by Mr. Unhruh in the WND article:     Despite the fact that this is a historical impossibility, it does explain why there is such a high unemployment rate within the collegiate graduate ranks; especially if they listened to…



Moody’s Just downgraded Italy Closer to the Poop Status that it IS

  by John Galt July 12, 2012 19:55 ET Gee, what a busy news night already. And now Moody’s decides to proclaim the obvious by calling a steaming pile, a well, steaming pile. Italy’s credit rating was just zinged again, and the full release is at the title if one clicks on the link. Woswer. This will be good for the ECB which bought all those 1 year notes this morning….   Moody’s downgrades Italy’s government bond rating to Baa2 from A3, maintains negative outlook Global Credit Research – 13 Jul…


The Penn State Sandusky Scandal is a Symptom of America’s Roman Decline

  by John Galt July 12, 2012 18:30 ET     The headlines and stories today tell a sad, disgusting story:   Report: Penn State Officials Hid Abuse   Penn State scandal: Freeh Report blasts disregard for welfare of victims   Probe Condemns Penn State’s “Total Disregard” For Victims’ Welfare   Penn State board takes ‘full responsibility’ for failures   Penn State Probe Accuses Paterno of Cover-Up   Penn State football likely to sidestep suspension-experts   Dramatic? Yes.   Pathetic? Very much so.   The biggest concern of Penn State fans…


The EPA is Preparing New Regulations for Wood Stoves and Fireplaces

  by John Galt July 12, 2012 05:00 ET   If you think you can escape the grasp of the regulatory monster, think again. The following is a proposal for revisions to the emissions standards for new wood heaters, but when you read the proposal it is not rocket science to figure out that this engulfs wood stoves and fireplaces (aka, “masonry heaters”) putting the EPA squarely in the middle of a prospective homeowners desire to build a truly energy independent homestead from the ground up. From the EPA website, link…


Another Municide: San Bernadino, CA votes to seek Bankruptcy Protection

  by John Galt July 11, 2012 05:15 ET The third California city with financial difficulties in the last 2 weeks alone has elected to seek Chapter 9 Bankruptcy protection as San Bernandino, CA (Pop. 292,000) plans to file to avert missing the next payroll deadline for its employees on August 15th. The article covering this proposed filing from Bloomberg BusinessWeek has  a very interesting quote via City Attorney James Penman however, which adds to the traditional twist of why so many communities are in dire financial straits:   Penman said…


Is Glenn Beck Trying to become the Next Alex Jones?

  by John Galt July 10, 2012 19:30 ET   Trust me, this is not an attack on Alex Jones, but more of a compliment to his style in the current news environment. While many might view this article as something out of left field, the question is legitimate now but not as Media Matters used the Washington Post to infer the question over a year ago in this highly biased article on July 1, 2011 by Erik Wemple:   Media Matters: Is Glenn Beck the next Alex Jones?   At…


07.09.12 AEP: China heads for a deflationary shock

  by John Galt July 10, 2012 05:25 ET   The idea that China is going to lead the world out of this crisis would be laughable until one sees the data and reads last night’s entry from Ambrose Evans-Pritchard in the U.K. Telegraph:   China heads for a deflationary shock   In this article, Mr. Pritchard states this terrifying premise for the world economy:   China is on the cusp of a deflationary vortex.   This was signalled late last year by the sharpest contraction in the (real) M1 money…


The Most Dangerous Executive Order Ever issued by Barack Obama

  by John Galt July 9, 2012 19:45 ET   This executive order essentially gives the Department of Homeland Security unlimited powers to seized, monitor, and control all aspects of radio and internet communications, up to and including cell phone service, in the event that the President declares a national emergency. This means that all privately held communications equipment, including personal computers, cell phones, amateur radio equipment, AM, FM, or Shortwave transmitters can be seized with no warning.   On June 25, 2012, President Barack Hussein Obama declared such an emergency:…



Cyprus Could be the Next Domino to Fall to Russia

  by John Galt July 8, 2012 22:00 ET   The United States slumbers under the inept leadership of the Clinton State Department and the old Soviet Union begins its march through the Western sphere by purchasing influence one nation, one alliance at a time. The U.S. thinks it can intimidate the Russians with verbal sparring but in reality they are laughing, in fact mocking the handiwork of decades of Soviet influence over our foreign policy as we stumble from crisis to crisis and Moscow simply purchases allies like we buy…


America’s Economic Employment System is Collapsing

  by John Galt July 8, 2012 21:30 ET   I realize that maybe 0.0005% of my readers have the time to dig up these obscure statistics and that there are smart asses who think that the masses follow this data but the truth is that is why I provide it. The smart asses proclaim “anyone can read it” yet the truth is the MSM and BSM (Bull S**t media) wants to keep the average American from seeing the truth and that is because the truth hurts.   Thus the question…


The Unemployment Data You Were not Supposed to See

  by John Galt July 8, 2012 20:45 ET   If you read the mainstream media, pro-Obama websites like “Business Insider” or “CNBC.com,” you might be under the idea that this past Friday’s unemployment report was no big deal, housing has bottomed, and the transportation industry is indicating that growth is back in this anemic economy if you read the headlines and did not do your own research.   Well hell, I’m here to do the work that the mainstream media won’t do and in this first of two parts of…


07.08.12 AEP is BACK: German president tells Angela Merkel to come clean on EU debt deal

  by John Galt July 8, 2012 20:15 ET   And my readers thought I was still uptight after my vacation? HA! Read this from the U.K. Telegraph via Ambrose Evan-Pritchard return:   German president Joachim Gauck has ordered Chancellor Angela Merkel to clarify exactly what she agreed behind closed doors at the EU crisis summit ten days ago, lending a powerful voice to critics dismayed by the surging costs of euro bail-outs.   “She has a duty to explain in great detail what it means, and what it means fiscally….





The Grecian Formula is Failing Miserably in Greece

  by John Galt July 8, 2012 16:00 ET   There is this myth that by funneling new debt into Greece, or any of the other PIIGS nations for that matter, will be a practical tool for these indebted nations to create leverage despite economic contraction to pay old debt back. Theoretically it sounds nice and placates the professors and politicians to a point where they can publicly proclaim success, even if in reality those in the know understand that a total collapse and default it is an inevitability, with many…


A Reminder: Tonight’s Voice of Galt is live from 8 pm to 10 pm ET

  by John Galt July 6, 2012 16:40 ET   Somehow I just don’t think 2 hours will be enough time either but I’ll squeeze in as much news as I can during that time period.   You have been warned so tune in at 8 p.m. ET by clicking on the link below:   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.    


All you need to know about today’s NFP Report: U-6 Not Seasonally Adjusted SURGES higher 0.8%

  by John Galt July 6, 2012 08:50 ET   The chart below is all you need to know about today’s report. Non-seasonally adjusted U-6 surged from 14.3% in May to 15.1% in June. Add that in with the total lack of job creation and the second wave of the “Great” recession appears to be right over the horizon.    



German 2 Year Yields go NEGATIVE while the PIIGS Squeal

  by John Galt July 6, 2012 07:45 ET   Think Europe is fixed? I’ll let these three charts from Bloomberg explain how this disaster is just now getting started.   And it is about to get a whole lot worse. Can you say PAIN boys and girls?     The 1 Year yield has bounced off its lows below the 0.00% mark and is now barely in positive yield territory:     Meanwhile in the rain in Spain, there is a lot of 10 year pain…..     This is…


The Chinese Slowdown illustrated: FDI overseas is down to 2003 levels

  by John Galt July 6, 2012 05:30 ET   Just when the bullmorons on Wall Street thought the all clear could be sounded, this report from the Chinese business website, MorningWhistle.com warns of a disturbing piece of news that should shake liquidity dependent markets throughout the West, especially the U.S.:   China’s overseas investment sees unexpected decline   July 6, 11:37 am | By Jialin Tang   Crazy Chinese overseas investment is cooling down.   According to theWorld Investment Report 2012 released on Thursday by United Nations Conference onTrade and…


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