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Electric Shock Treatment being used on “Special Needs” students in Massachusetts

by John Galt May 23, 2012 05:25 ET Just when you think America can not sink any lower into a Nazi/Soviet style Eugenics fantasyland, this story catches my attention from Anderson Cooper’s CNN television program which I watched early this morning: Needless to say I am disgusted with our nation as the program illustrates that we have learned nothing from our past, nothing from the horrors of allowing “scientists” and academics to implement programs without proper oversight, and nothing about allowing...

by John Galt May 22, 2012 17:45 ET In a not so subtle article from the newspaper Adnkronos, the crisis in Italy is far from over and might indeed be accelerating: Businesses suffering ‘credit crunch,’ report says This excerpt from the story tells of a tale of woe growing month by month: Italian businesses are facing a credit crunch,” according to a report by the national statistics agency. Last year “modest investment activity was accompanied by a growth in...

by John Galt May 22, 2012 17:05 ET Due to some technical difficulties on my end as I conducted the website redesign and with one of my email addresses I have been unable to update CalOkie’s bank failure charts but now the snags are fixed and the charts are now up to date as of last Friday’s only closing, as pictured by the header from the FDIC’s takeover of Alabama Trust Bank in Sylacauga, AL. Even though bank failures are slow this year,...

by John Galt May 22, 2012 05:20 ET The other elephant in the room, the Japanese economy and debt disaster, received a major blow this morning while the rest of the world slept as Fitch downgraded Japan to A+ with a Negative Outlook. The reasons outlined should sound familiar to any European government or even the casual U.S. observer: “The downgrades and Negative Outlooks reflect growing risks for Japan’s sovereign credit profile as a result of high and rising public debt ratios,”...

by John Galt May 21, 2012 15:00 ET A sneak peek into America’s future perhaps? Imagine your son or daughter working a part time job at a local restaurant as a cashier. The customers usually don’t ask for a copy of their receipts so the habit has been to throw them away. Suddenly, your son or daughter is arrested by one of the customers who identifies himself as an undercover officer for the U.S. Treasury Department Financial Police. Crazy sounding isn’t...

by John Galt May 20, 2012 23:59 ET But, butt, butt, butttttt, butttttttt, I was told on the teevee that Mr. Obama had saved the day according to the Vice-President, Mrs. Biden. Oopsies, again! Tonight’s editorial/commentary from Ambrose Evans-Pritchard sums up the ultimate definition of “critical mass” if and when the American economy collapses in this article: Again; do what? I thought Obamanomics cured cancer, AIDS, divorce, unwanted pregnancy, herpes, and common toe nail fungus. Apparently, according to the...

by John Galt May 20, 2012 23:05 ET Two choices are upon you. Watch the following video via YouTube from LMFAO and consider this “America’s future” or…. Wake the bleep up to reality as I can educate you as much as the idiot in chief, America’s first Marxist President. First and foremost, I’m approximately the same age as the MMM Prez so to say “you can’t relate” is lie number one. When yours truly was in college I was...

by John Galt May 20, 2012 22:50 ET As America parties, the world burns. Unfortunately for some futures contract holders and those who think they can sell anything to the, ahem, “COMMUNIST” Chinese government, er, companies, this rude awakening has hit them in the face with a two by four: China buyers defer raw material cargos (click on the link to read the story in full- Subscription required) In this story from the UK’s Financial Times, the story by Javier...

by John Galt May 20, 2012 22:00 ET No comment is necessary. This excerpt from the latest editorial from the Mogambo Guru should provide a clue for those who are ignoring reality: Of course, Ben Bernanke, chairman of the Federal Reserve, so famously said that inflation is only a problem for people who buy things or put the money under their mattress to save it instead of putting the money into investments that will, hopefully, grow as fast as inflation, to...

by John Galt May 20, 2012 10:00 ET The world is focused so intently on the coming collapse of Greece and their withdrawal from the European Monetary Union that one of the byproducts of the regional instability in the Balkans continues to operate much like the Israeli Air Force has been in the same region. This week saw the first direct interaction between Israeli Air Force and Turkish fighter planes near Cyprus that I can recall in modern times (From Hurriyet Daily News...

by John Galt May 20, 2012 08:20 ET Finally, at least one of the banksters of the world has provided some degree of honesty about this mess over in Greece. The threat of the Grexit was enough to turn the debut of Facebook on the NASDAQ into FacePalm creating a concern that the entire world economy is teetering on disaster. From an article in the Athens News yesterday: If Greece leaves the euro zone it could detonate a global financial crisis even...

by John Galt May 20, 2012 07:00 ET In what can only be described with the word “ugh” as in here we go again, the first tropical storm of the season has formed off of the coast of South Carolina. Alberto is the earliest tropical storm to form since 2008 and almost three weeks before the official start of the hurricane season. With that little gem of good news, a reminder that the satellite photos and graphics from the NHC update themselves automatically,...

by John Galt May 16, 2012 21:40 ET In what I can only call as a shocking document, I’ll leave this to the reader’s imagination as to how this will be perceived by the more radical and tempted members of America’s young Islamist nutcases. This is a direct shot at those who wish to do harm to our families, friends, and neighbors and should be taken for what it is: A recruitment tool for Islamic youth dissatisfied with our nation and ideals....

by John Galt May 16, 2012 16:55 ET What can I say? Ambrose Evans-Pritchard is on a roll this week with his columns in the U.K. Telegraph and this one protion from today’s piece sums up the disaster we are facing quite nicely: The crisis is replicating the pattern of fixed-exchange ruptures through history. Britain was forced off the Gold Standard in 1931 after pay-cut protests in the navy triggered capital flight. Greek banks have lost 30pc of their deposits since...

by John Galt May 16, 2012 16:30 ET While the mainstream media engages in P.L.O.P.O.O. (Putting Lipstick on Pig of Obamanomics), the reality of today’s housing numbers are still so bad, they would even embarrass Lyndon Baines Johnson; hell, maybe even Harry Truman! The Media’s PLOPOO updates look like this: Rebound in Housing Starts Housing market posts best stretch of growth in nearly four years Housing starts, single-family building permits jump in April Builders start construction on more...

by John Galt May 15, 2012 22:30 ET The usual suspects are at their propaganda inspired best with the monthly BLS report on consumer prices. The mainstream media has the usual headlines:May 15, 2012 22:30 ET US Consumer-Price Index Unchanged; Core Rate Climbs 0.2% US April consumer prices flat as gasoline drops US consumer prices flat as gas costs fall In other words, gas distorted reality as the reality is that the impacts on things the average American need or use...

by John Galt May 18, 2012 19:05 ET Last night on my live podcast I covered this story then after a customary four hours of sleep the realization hit me today of the implications of this story form the Jerusalem Post: IDF building backup facilities for key sites The Eurozone is in the midst of a total economic collapse, the United States mired in the summer doldrums of a political campaign between Tweedle-D and Tweedle-bo-R-edom, and in the mean time, Iran...

by John Galt May 15, 2012 18:45 ET Appetiser cost of Greek exit is €155bn for Germany, France: trillions for meat course My fellow internet wanderers, no, your eyes do not deceive you. The costs are almost incalculable because the world has never experienced anything like what we will witness occurring in Greece as their exit from the European Monetary Union seems almost certain now. In tonight’s article from the U.K. Telegraph, Ambrose Evans-Pritchard makes the following, terrifying statement: Needless...

by John Galt May 15, 2012 16:25 ET Does the sock puppet from Pets.com bring back any flashbacks of reality? How about these old internet dynamos and how they are doing these days: The list of companies could fill pages but the reality is that a profitable model must be in place or demand for the product to justify expenses for investment, product purchase, or advertising expenditures. The highlights above...

by John Galt May 15, 2012 15:55 ET The Greek crisis took another turn for the worse as the middle class began to realize that no deal would be struck to form a new government and the European Central Bank would never seriously consider any relief for the stricken nation. As the electoral politics spiraled out of control over the weekend, on Monday Greek citizens withdrew approximately $1,024,000,000 aka €800 million from the nation’s banks. This means that the middle class has...

by John Galt May 15, 2012 05:30 ET After several days of just horrid technical destruction and weak trading action, look for equities to start their Facebook dead cat bounce phase. Today, if it plays out as most bear market moves do, should see a rise in prices in the morning, fade after lunch, and then it is a coin toss if the markets finish flat or lower. If there is major selling into the morning rally then that is a very ominous...

by John Galt May 14, 2012 17:35 ET Moody’s unleashed a firestorm with this release today piling on top of the Greece fire: Moody’s downgrades Italian banks; outlooks remain negative Excerpt from the official statement at the link above: The ratings for Italian banks are now amongst the lowest within advanced European countries, reflecting these banks’ susceptibility to the adverse operating environments in Italy and Europe. Today’s rating actions reflect, to differing degrees for each affected bank, the following key...

by John Galt May 13, 2012 19:300 ET The warning I posted about the gold market signalling something bad was happening (see: Gold is Sending a Dire Economic Warning) in the world’s economy very prescient appears to have been validated to date by the data coming from Communist China. The deflationary warning signal precious metals and commodities are sending is unmistakable and in tonight’s commentary by Ambrose Evans-Pritchard, that clarion is screaming a deafening alarm: World edges closer to deflationary slump as...

by John Galt May 13, 2012 17:00 ET The headline from the Greek newspaper Tovima was disturbing enough: One in two police officers voted “Golden Dawn” The story itself though speaks volumes as to just how hardened law enforcement in Greece has turned against globalism and those wishing to impose the will of the European Union on their nation. This excerpt (translated using Google) spells trouble for the Mediterranean nation’s future should the next government wish to force the country to...

by John Galt May 13, 2012 14:40 ET As nations and empires decline into economic chaos, one of the major signs of civilian defiance is a refusal to participate in the “normal” or above ground economy and to engage in open acts of defiance towards the tax authorities. The nation of Italy has made finding alternatives to paying some of the most oppressive taxation policies an art form. The defiance however, has been moderated by the European Central Bank’s insistence on usurping the...

by John Galt May 13, 2012 11:30 ET In a move which is designed to rebuff Iran militarily and the West economically, Bahrain is expected to announce a closer political union with Saudi Arabia during a summit of Gulf Cooperation Council (GCC) to be held in Riyadh tomorrow. The approach is expected to be part of a broader GCC initiative to develop a European Union type of political and financial union which will draw on the feelings of the people wishing to re-establish...

by John Galt May 12, 2012 23:30 ET As if the crisis involving Iran and the world needs any more gasoline to fan the flames higher, MP Heshmatollah Falahatpisheh of the Majlis Foreign Policy Subcommittee of Iran’s Parliament warned that the upcoming negotiations in Baghdad will fail if the West demands the Iranians cease any uranium enrichment activities. The problem with this stance is that if they pursue this course of action it is an almost 100% guaranteed mortal lock that the next...

by John Galt May 12, 2012 08:00 ET Much to the chagrin of the PPP (Perpetual Polly Pumpers) of CNBC, China has all but verified that the entire world economy has hit just a wee bit more than a speed bump as it made the following announcement this morning (via Bloomberg): The People’s Bank of China said it is cutting the reserve ratio requirement for banks by 50 basis points starting from May 18, according to a statement on its website today....

by John Galt May 11, 2012 05:15 ET The nation and government of Greece is in total revolt from the street level to the civil service level now with bureaucrats at the Finance Ministry failing to engage in the Troika required tax collections per an article from the Greek newspaper Protothema. The lack of interest in engaging the citizenry for collection of these taxes, be it income, sales, or VAT indicates that the entire system is now in full collapse. The bureaucracy in...

by John Galt May 10, 2012 22:10 ET The Chinese Communist government is now having to deal with a new problem due to its extremely fast economic expansion and the idea of private property being introduced to the population (from Xinhua): 3 dead, 14 injured in Yunnan blast While the media is China is attempting to downplay this story as the Xinhua story linked above indicates, the BBC has a more accurate version with the background behind the attack develops a...

by John Galt May 10, 2012 20:00 ET AND the hits just keep on coming…. Europe, as Ambrose Evans-Pritchard so brilliantly outlines in tonight’s U.K. Telegraph commentary, is playing Fukushima with the world economy. The measurements of Greek unemployment yesterday were beyond horrific and indicative of a nation in complete disintegration economically. The extremists now hold sway over the future and that is a dark prospect for the people as usually the fringes of the political world lead nations into great darkness...

by John Galt May 10, 2012 19:10 ET If Jamie Dimon was having a bad day before the conference call and 10Q release this afternoon, add this story from the Wall Street Journal to the mix: Westin Loan Rattles CMBS Market Again After Nearly Four Years Ouch. The money phrase from the article is what the bankruptcy judge did and the pain inflicted on the banksters which could trigger a wee bit of panic in the supposedly “safe” CMBS market: ...

by John Galt May 10, 2012 18:45 ET As the market appeared to find a footing today, J.P. Morgan Chase (Symbol: JPM) yanked the rug out from the bulls and Bubblevisionistas with an incredible 10Q release and conference call which imploded the market after hours (See Bloomberg News: JPMorgan Reports $2 Billion Loss on Synthetic Positions). the truth though is that before this announcement, enough gasoline was already on the fire to indicate that there is a nasty bear phase approaching which will...

by John Galt May 10, 2012 18:00 ET Remember the following article and the video over Miami, Florida, the Brickell are to be specific from April of last year? The Largest Detention Camp in World History is Almost Complete Well, here we go again in the Miami area with what was called a “military” exercise but I’m willing to wager if the truth were ever to be revealed that this is part of the U.S. Department of Homeland Securities Special...

by John Galt May 10, 2012 05:30 ET The Secretary of Defense, Leon Panetta, has renewed the push to cede American sovereignty with his call for the U.S. Senate to ratify the Law of the Sea Treaty. This treaty which has been discussed for years as a direct assault on America’s rights to use its waterways and coastal resources as we see fit, along with the removal of private property rights of corporations and citizens with the internationalization of water rights, is an...

by John Galt May 9, 2012 19:45 ET The latest from Ambrose Evans-Pritchard in tonight’s U.K. Telegraph highlights the sense of panic the European credit markets are reflecting behind the scenes: Spain nationalises Bankia as euro crisis escalates How bad is it? Amborse hits the high point in this one portion of the story: “The Spanish have denied until now that there was any need for fresh capital so it comes as a surprise. It wasn’t intended, and that is a worry,”...

by John Galt May 9, 2012 19:00 ET If one is led to believe the usual nonsense on the Bubblevisions, gold, silver, and anything that is considered “real money” will be smoked in the weeks to come. For once, this esteemed, or full of steamed clams, blogger agrees. The markets are indicating the following for long term paper silver bulls (I emphasize PAPER SILVER BULLS) 1. Severe correction. 2. Deliberate price suppression for industrial purposes. 3. A move...

by John Galt May 9, 2012 18:25 ET From Reuters: Equity funds lose most since start of year -ICI How bad was it? From the article: Oops. So much for the CNBC propaganda.

by John Galt May 8, 2012 19:30 ET Finally, some two years after Zero Hedge and these pages warned about the imposition of capital controls in the United States to prevent the flight of wealth out of our nation, Bloomberg News finally realizes that this de facto capital controls are already in effect. Bloomberg published the following story this afternoon about the dilemma FACTA created: U.S. Millionaires Told Go Away as Tax Evasion Rule Looms When I first published the following...

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