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 shocking…
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 and…
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: A…
by John Galt May 10, 2012 18:55 ET I swear this is the actual screen print from Google News this evening: I just wonder how they broke the news to their wives and why the two men have a marital spat between themselves already. What a truly monumental waste of bandwidth this entire story manufactured by the MSM has become. Get ready for more fluffernuttery as the economy takes a severe move to the downside.
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 create…
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 Response…
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 abomination…
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