by John Galt July 5, 2012 23:35 ET It is with great disgust that once again, I must apologize to my readers for voting for the bawling moron on the right hand side of the picture above. Why? I honestly was stupid enough to believe that America was still a land of honor and that our Presidents would behave in such a manner. However, while I was on vacation last week, the former President achieved a feat far beyond my wildest imagination, years…
by John Galt July 5, 2012 14:50 ET I’m just warning everyone now: 1. Duct tape 2. Adult beverage of one’s choice 3. Unload and lock up all firearms to prevent accidental discharge into your computer in a fit of anger 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…
by John Galt July 5, 2012 09:00 ET Upon reflection, perhaps I should have just stayed on vacation. The disastrous rulings from the United States Supreme Court (I’ll comment on that later) along with the spineless wonders known as the Republican Party refusing to act in a decisive manner to block America from falling from Banana Republic status into Socialist Banana Republic status akin to 1970′s France demonstrates just how screwed we are. Then this story by Nick Timiros grabs my attention…
by John Galt July 5, 2012 08:45 ET Yawn. Another boring report which illustrates that the economy is still flat and data can indeed be manipulated. The chart below reflects the stall in the decline in claims on a non-seasonally adjusted basis but remember one thing: When Bush was President these types of numbers generated howls of “it’s the Great Depression all over again” from the mainstream media. Ever since the KiC (Kenyan in Chief) was elected it is sort of…
by John Galt July 5, 2012 08:15 ET It’s a busy morning and the data keeps on flowing but the following announcement by the European Central Bank reeks of desperation: PRESS RELEASE 5 July 2012 – Monetary policy decisions At today’s meeting the Governing Council of the ECB took the following monetary policy decisions: The interest rate on the main refinancing operations of the Eurosystem will be decreased by 25 basis points to 0.75%, starting from the operation to…
by John Galt July 5, 2012 08:00 ET The first half of 2012 has become a comic book story, not based on the superheroes of Marvel or DC, but akin to Alfred E. Neuman acting as villain, superhero, and lucky loser. Since January of this year the market has rallied not on economic growth, not on world geopolitical stability, not on stock market technicals or fundamentals, but on rumors. Rumors of Fed rate cuts, BoE rate cuts, rumors of peace agreements in strife…
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