Monthly Archives: July 2011

0.0014%

By John Galt July 31, 2011 0.0014% That’s it boys and girls. That is the first payment as proposed tonight against total U.S. debt obligations the new improved revised top secret political deal created on Sunday provided of course the U.S. government stops spending and actually cuts programs and the wildly absurd G.D.P. calculations of the C.B.O. come true. There really isn’t much commentary necessary because as of the time this is written there is no definitive final legislation to tear apart in detail on…

By John Galt July 31, 2011 If we are all going to die due to going bankrupt, we might as well consume as much of the earth’s resources and beef on the way down to oblivion as it appears the administration and our morons in the House and Senate are still wrangling before the Asian and U.S. futures markets open. Gee, wonder how that will work out since the House is now in recess until Monday. Meanwhile back in the markets…. (Chart snap shots from…

By John Galt July 31, 2011 Just ugh. But I’ll cover it. In the mean time, enjoy the parody…. 7/31 20:43 – So far all I can say is he has said nothing. More of the usual idiocy we are used to hearing from him but I must say he looks rough. An alleged “framework” which he is urging voters to contact their lawmakers even though there is nothing in print for voters to review.

By John Galt July 31, 2011 From the Wall Street Journal’s Washington Wire Blog (Click here to read the entire thread at the source)…. Gee, it doesn’t take long for me to change headlines now does it: UPDATE FROM THE SAME BLOG 7/31 19:14 ET: 7:14 pm GOP Leaders Sign on To Tentative Debt Deal by Corey Boles House Republican leaders have agreed to a “tentative deal” to lift the U.S. debt ceiling and cut the deficit by roughly $2.4 trillion in a series of…

By John Galt July 31, 2011 The equity futures are soaring. Gold is being sold. The dollar? Still sucking wind, once again proving currency traders are smarter than equity morons. Meanwhile breaking just a minute ago on Fox News was the fact that the head of the Congressional Progressive Caucus, aka Americommies, and the only honest enough to admit it Socialist in the Senate, Bernie Sanders (S-VT), have come out somewhat pissed off about the proposed “debt deal” and this fiasco may go even deeper…

By John Galt July 31, 2011 Tonight old Ambrose Evans-Pritchard hits a home run. A definite must read. Click on the title to read the entire editorial from the UK Telegraph: America is merely wounded, Europe risks death We have a glimmer of hope. The key indicators of the US money supply are at last firing on all cylinders, a dramatic turn for the better that would normally signal recovery or even a mini-boom within the next six to 12 months. Needless to say, these…

By John Galt July 30, 2011 It would appear that July might mew out like a kitten with a very weak storm named Don, but with the activity picking up in the Atlantic basin August could be roaring in like 2005. I personally hope not because who wants to go through that again. From the National Hurricane Center in Miami: (CLICK ON THE IMAGE TO ENLARGE or REDUCE SIZE) This will probably be the last satellite photo for this thread we’ll see today before I…

By John Galt July 31, 2011 I don’t think they are buying the hoopla either. This could be a very interesting day if the futures open up huge then fall dramatically if it turns out that this is another lemon from the D.C. lemonade stand. Here’s a quick snapshot as of 09:00 ET:

By John Galt July 31, 2011 And here are the quick and dirty details from the ABC News story per Johnathan Karl: The current framework would give the president the authority to raise the debt ceiling in two parts: roughly half of it now and the balance at the end of the year. Each increase would be subject to a Congressional resolution of disapproval. If Congress voted to disapprove that increase, however, the President could veto their disapproval. This is borrowed from a proposal made…

By John Galt July 30, 2011 The New York Times is breaking what will be the most under reported story of the weekend thanks to the manufactured crisis in Washington in the Sunday print edition. The United States has been falsely claiming under the pretense of political advancement via two Presidents that the Iraqi situation has been stabilized and victory achieved. Reality on the ground, along with the dictates of the news from nations and media outside the sphere of our mainstream propaganda influence, are…

By John Galt July 30, 2011 The title of this editorial will be the question that rages across America in the months and years ahead. As I covered on my radio program last night and my friend Invar covered at his blog Sword at the Ready in the article ‘Feds Mandate Your ISP Monitor and Log Your Internet Activities for a Year’ , it has become quite obvious that the United States government is now fully engulfed in finding every nook, cranny, or orifice that…

By John Galt July 30, 2011 I know my readers understand this. But just in case, here is the latest results from the vote in the house on a budget/”debt reduction”/debt ceiling proposal to go down in flames, this time from Senator Dirty Harry “I like to use illegals to vote for me” Reid:

By John Galt July 30, 2011 On Larry Kudlow’s CNBC program tonight, perennial mega-unicorns-pooping-rainbows-and-skittles bull Brian Wesbury from Cumberland er now First Trust Advisers, made the following statement on commercial real estate in this economy: Uh, Mr. Webury, I’m fairly certain you can afford or already receive the Financial Times and read this story today: Rating move shocks CMBS investors In the article by Tracy Alloway the following doesn’t sound like we’re experiencing a boom and in fact the long predicted second shoe is not…

By John Galt July 29, 2011 I was all set to rant further after my show about the obscene opinion piece posted at the Politico website this morning but INVAR from Sword-at-the-Ready did a much better job expressing my anger with the idiocy of the left and the complicity of the RINO’s to promote this train of thought. Read this editorial and understand one fact: We are the enemies of those who wish to define our freedoms. Our time on this earth is short, our…

By John Galt July 29, 2011 The U.K. Daily Mail pretty much tells the tale of the tape today: Thousands demonstrate for an Islamic state in Egypt Then from the Australian Broadcasting Corporation (ABC): Islamist groups dominate protests in Cairo And from the Khaleej Times:: Two dead as armed men rampage through Sinai city Finally from the Chinese state news agency Xinhua with the story and photo: Egyptian capital sees rally with big turnout of Islamists CAIRO, July 29 (Xinhua) — Tens of thousands of…

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By John Galt July 26, 2011 News happens. Welcome back to 2008. Lehman style. 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.

By John Galt July 29, 2011 Just more, just wow. (Click on the images to enlarge/reduce)

By John Galt July 28, 2011 Pictures will refresh automatically from the original sources. LATEST NEXRAD RADAR FROM BROWNSVILLE, TX RADAR: 1600 CDT ADVISORY FROM THE NATIONAL HURRICANE CENTER:000 WTNT34 KNHC 292035 TCPAT4BULLETIN TROPICAL STORM DON ADVISORY NUMBER 9 NWS NATIONAL HURRICANE CENTER MIAMI FL AL042011 400 PM CDT FRI JUL 29 2011…CENTER OF DON APPROACHING THE COAST OF SOUTH TEXAS…RAINBANDS SPREADING ONSHORE…SUMMARY OF 400 PM CDT…2100 UTC…INFORMATION ———————————————- LOCATION…26.9N 96.2W ABOUT 95 MI…155 KM SE OF CORPUS CHRISTI TEXAS ABOUT 105 MI…170 KM…

By John Galt July 29, 2011 JUST WOW (Click on images to enlarge/reduce)

By John Galt July 29, 2011 A fascinating Reuters story crossed the wires this morning raising the very question of the title of this particular piece. According to the article, Italy was supposed to offer a portion of the key tranche from the European Union crisis designed bailout recently constructed for the nation of Greece. The problem with this theory is that one of the “I’s” in the PIIGS does not have an economic structure much healthier than Greece and thus the question arises as…

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By John Galt July 28, 2011 Uh, this chart speaks volumes in a very terrifying new reality we are moving into: (Click on the image for full size) Then click on the headline below from the UK Telegraph to understand why Ambrose Evans-Pritchard’s column today should be of great concern to any sane soul. Global slump warnings if US triggers ‘insane’ default A chorus of global banks has warned that Washington risks triggering a global slump and may suffer permanent loss of credibility by flirting…

By John Galt July 28, 2011 Hilarious. Like they are going to win the Super Mega Irish Lotto this weekend and when $3.6 billion to solve their problems? Read the entire story at the link in the title below from the Wall Street Journal which just broke the story a little while ago: Strapped Alabama County Postpones Bankruptcy Meeting

By John Galt July 28, 2011 Thank you Front Page Magazine for pointing out this terrifying endorsement of child rape and pedophilia which is still endorsed by the” Religion of Peace” and their Sharia adherents. The excuse that “well Muhammad did it, so it must be okay” overlooks the horrifying implications of this behavior and many other aspects of acceptable actions within the “Religion of Peace” including honor killings like this story: Father kills six daughters in Faisalabad for having relations with boys Faisalabad, July…

By John Galt July 27, 2011

By John Galt July 27, 2011 And for tonight’s edition from Ambrose Evans-Pritchard, an almost perfect summary and follow up to the articles I posted earlier about Cyprus joining the PIIGS(c) and Italy’s banking issues causing a nasty equity sell off today. Click on the headline below from the U.K. Telegraph to read the entire story: Europe’s hot summer as Italy and Cyprus join sick list Fears of recession in Italy and the Germans’ reluctance to back the EU’s bail-out fund with real muscle have…

You can download this program by clicking on this link. Thank you for supporting the Just Measures Radio Network.

By John Galt July 26, 2011 News happens. Get the real take tonight on the Voice of Galt only on Just Measures Radio. Especially Tonight. 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.

By John Galt July 27, 2011

By John Galt July 27, 2011 Translation: Greece is in default and might as well plan on being Europe’s first financial leper colony of many to come. Via from ForexLive.com: Greece cut to CC from CCC by S&P, negative outlook; amounts to a selective default By Jamie Coleman || July 27, 2011 at 16:32 GMT Not much reaction. When ratings are that low, doesn’t much matter…. Debt restructuring plan amounts to a selective default S&P views the EU’s debt restructuring proposal as a “distressed debt…

By John Galt July 27, 2011 I’m going to continue sniffing as either someone got an inside tip that a deal was about to be cut in CONgress with a Republican capitulation or someone, somewhere in the world just needed to raise a buttload of cash in a hurry as the sale of gold in the cash market and GLD ETF was huge with an almost $7 swing in less than 10 minutes. The money did not flow into equities but did help it recover…

By John Galt July 27, 2011 Uh, care to wager on if the Japanese people permit any more nuclear power plants to be built on their homeland? This story is disturbing because if such an accident were to occur in the United States you can count on the Department of Energy and whatever power company was involved, especially if it were a G.E. constructed facility, to cover up the exposure in a blind heartbeat. In fact you could count on not just the exposure to…

By John Galt July 27, 2011 Think that hyperinflation doesn’t destroy a nation? The communist regime of dictator Robert Mugabe is finding out that just because you murder capitalists and usurp what used to be Africa’s breadbasket in the form of Rhodesia, that it doesn’t mean you can rape and pillage and expect the economy to function. The Keynesian model on steroids where communism meets central banking dictatorship has proven to be a complete failure be it with central planning for agriculture to the corrupt…

By John Galt July 27, 2011 It’s always a pleasure to see that some old formula can be dusted off from the pages of history and restored for modern political purposes. Why let Hitler and the Arab governments monopolize bigotry and propaganda when shifting it several thousand miles to a Far East nation works just as well, even though many in the Muslim population have lived at relative peace with religious minorities in Malaysia for decades. Before the recent Berish protests (See: The Islamist Summer…

By John Galt July 27, 2011 David Geen, general counsel at the International Swaps & Derivatives Association was on Bloomberg’s “The Pulse” yesterday and what he had to say was very disturbing but in my opinion a non-event. I find it highly unlikely that the U.S. will miss a debt payment or fail to service the debt any time in the near future. The only exception would be a deliberate act by the administration to drive a political stake into the heart of the economy…

By John Galt July 27, 2011 Perhaps the Chinese Communist Party has dusted off some of their old news writers for this story out of the state controlled media this morning where the claim has been made that the aircraft carrier they purchased from the Ukraine which is readying for sea trials is being set up for “scientific research.” That reminds me of some of the old time stories you would hear on shortwave via Radio Tirana, Radio Moscow World Service, and currently on Radio…

By John Galt July 27, 2011 Despite the proclamations of a miracle solution of paying off old debt by creating new debt for the PIIGS, it would appear that the entire European Union is heading for the ultimate destination that the U.S. is on: Mega-Downgrades to Credit Hell Cyprus becomes the latest member of the credit downgrade express and here is part of what Moody’s said in their statement this morning (Click on the title for the full statement): Moody’s downgrades Cyprus to Baa1 from…

By John Galt July 27, 2011 Now off 2.01% or -401.80 as of 0630 ET. The story which is triggering the slump (From CNBC): Italian Banks Slump After Bond Purchase Report By: Antonia van de Velde CNBC Associate Web Producer Italian bank shares were sharply lower in Wednesday morning trade after Reuters reported German Finance Minister Wolfgang Schaeuble said the euro zone’s rescue fund should only purchase bonds on the secondary market in exceptional circumstances. And you thought the bailout meant that it really, honestly,…

By John Galt July 27, 2011 But don’t worry, it’s not “real” money according to Bernanke and it doesn’t indicate that there is anything wrong with the world’s fiat currencies if you believe the talking heads on the various Bubblevision financial networks.

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Monthly Archives: July 2011

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