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    Daily Digest – June 15

    by Davos

    Monday, June 15, 2009, 3:58 PM

  • Historic Bond Market CRASH Underway…
  • FSN Part 3A and 3 B June 13, 2009 Real, WinAmp, Windows, Mp3
  • * * * * ABBY NORMAL (Repost)
  • Inside Look – Investor Psychology (Video)
  • How to fix Financial Television
  • Hotel RevPAR off 22.9 Percent
  • Fed: Household Net Worth Off $14 Trillion
  • Retail Sales in May: Off 10.8% from May 2008
  • Roubini’s RGE Monitor: Threat of ‘Asia-Style Crisis’ in Eastern Europe
  • Update: What is a Depression?
  • U.S. Treasury Receipts: Off 18% (fiscal) YTD
  • New Tomato Plants In Old Milk Jugs: Planting Tomatoes Upside Down (Video)
  • Solar Towers Could Power the Future: Solar Updraft Power Plants
  • UPDATE: Bernanke is worried! HR 1207 to Audit the Federal Reserve is Gaining Momentum FAST!

Economy

Historic Bond Market CRASH Underway…

Folks, your government has already DEFAULTED on its debts, that’s what “quantitative easing” is. When one can no longer sell their debts they resort to buying up their own issued debt with fake and newly printed money. This is what national default looks and feels like for a country that is the world’s reserve currency.

The 10 year just hit a new high today as well – interest rates on fixed rate mortgages are skyrocketing. Get a clue America, you have been sold out.

To learn more, please read:

Bond Market Hide & Seek – A Domed House & 3 Peaks…

FSN Part 3A and 3 B June 13, 2009 Real, WinAmp, Windows, Mp3

3A: All times

  • 16:00 2 trillion dollar portfolio, 9 trillion in credit extended
  • 19:00 Bond market and Fed and deficits, 50 bn week, Mortgages down, Refis Down, Deficits, Jobs, FCB’s buying only short term (T-bills)
  • 23:00 Bonds and Currency debasement
  • 25:00 Paygo 3.5 trillion 2010 budget, spend repent, spend repent, spend repent …
  • 28:00 Tax, tax, tax the tapped out
  • 29:17 Save the economy and sacrafice the dollar or save the dollar and sacrafice the economy. A or B?
  • 30:40 Emerging world market recovery
  • 33:00 Oil, contrary to how economists have looked at this before is NOT static
  • 33:00 media vacume
  • 39:00 CB insolvent just like C(iti)
  • 41:00 BRIC (Brazil. Russia, India, China) dollar meeting, China no more accumulation of USD and phasing out USD
  • 47:00 Admin clueless deisn’t know the economy
  • 50:00 Other currency’s if you don’t like gold but worry about the USD

3B

  • 3:31 $72 buck oil DURING a recession, 35 OPEC projects cancelled, IEA, 2012
  • 8:23 (Can’t read notes, written while at dump unloading trash)
  • 9:20 Shiping costs and oil
  • 12:00 Factories move back to US
  • 18:00 new life style
  • 22:50 Cantarell Oil Field – production worse than pessimistic yeild expectations
  • 24:00 Food, sotck up
  • 29:00 SHADOW STATS JOHN WILLIAMS, unemployment figures
  • 31:50 Hype, #’s bad, worse we have had since WWII, most everything down 75%, worse since GD1
  • 34:00 Doomed to printing press
  • 35:20 Financial collapse as USD becomes worthless
  • 35:50 College professors (Summers, Romer, Bernanke) theory isn’t reality
  • 37:34 Bernanke is following his 2002 speach he gave on debasing the USD in order to create inflation
  • 38:52 Financial Channels
  • 39:00 Worst financial crisis hasn’t even begun
  • 53:00 Inflation or deflation? Inflation! Q & A
  • 55:00 Mish about China’s forced buying Q&A
  • 1:00:00 Government bullion banks JP Morgan, Goldman Sachs and Deutsch?
  • 1:05:00 Infaltion/Deflation and credit destruction
  • 1:09:00 What will happen to other currencies that are pegged to the USD if/when the USD tanks?

* * * * ABBY NORMAL (Repost)

The pundits on CNBC who appear every morning proclaim that things are returning to normal. It amazes me that such supposedly intelligent people have no idea what normal means. Since 80% of the people interviewed on CNBC manage other people’s money, I’m guessing they are just trying to stay in business by lying to the average investor. If they were honest, they would say they have no idea what the future holds. If they were outspokenly honest, they would say that a Frankenstein’s Monster is loose in the countryside and will wreak havoc on the American economy for years.

Inside Look – Investor Psychology (Video)

How to fix Financial Television

11. Investigative pieces: David Faber seems to have a monopoly on deep, long thoughtful analyses. Be they on Wal-Mart, the credit crisis, whatever, his long format work is a highlight of CNBC. More of these, please.

Hotel RevPAR off 22.9 Percent

From HotelNewsNow.com: STR reports US performance for week ending 6 June 2009

In year-over-year measurements, the industry’s occupancy fell 13.9 percent to end the week at 56.6 percent. Average daily rate dropped 10.5 percent to finish the week at US$95.90. Revenue per available room [RevPAR] for the week decreased 22.9 percent to finish at US$54.24

Fed: Household Net Worth Off $14 Trillion

This ratio was relatively stable for almost 50 years, and then … bubbles!

Household percent equity was at an all time low of 41.4%.

Retail Sales in May: Off 10.8% from May 2008

On a monthly basis, retail sales increased 0.5% from April to May (seasonally adjusted), and sales are off 10.8% from May 2008 (retail and food services decreased 9.6%). Much of the increase was due to higher gas prices.

The following graph shows the year-over-year change in nominal and real retail sales since 1993.

Roubini’s RGE Monitor: Threat of ‘Asia-Style Crisis’ in Eastern Europe

I am not the only one who sees events in Latvia as a potential catalyst for further downside risk to the reflation trade. Mary Stokes over at Nouriel Roubini’s site has a very readable post out on why we should be watching events in that tiny Baltic nation for potential signs of contagion elsewhere. She notes:

Update: What is a Depression?

In early March it seemed like the "D" word was everywhere. That raised a question: What is a depression?

This is an update to that earlier post. Although there is no formal definition, most economists agree a depression is a prolonged slump with a 10% or more decline in real GDP.

In March I heard an analyst say that a 10% unemployment rate is a depression. But the unemployment rate peaked at 10.8% in 1982, and that period is not considered a depression.

Some people argue the duration of the economic slump defines a depression – and the current recession is already 18 months old (through May). That is longer than the recessions of ’90/’91 and ’01. The ’73-’75 recession lasted 16 months peak to trough, and the early ’80s recession (a double dip) was classified as a 6 month recession followed by a 16 month recession (22 months total). Those earlier periods weren’t "depressions", so if duration is the key measure, the current recession probably still has a ways to go.

Here is a graph comparing the decline in real GDP for the current recession with other recessions since 1947. Depression is marked on the graph as -10%.

U.S. Treasury Receipts: Off 18% (fiscal) YTD

New Tomato Plants In Old Milk Jugs: Planting Tomatoes Upside Down (Video)

Solar Towers Could Power the Future: Solar Updraft Power Plants

Many of you have no doubt heard of solar updraft towers, but I had not until today.

Basically the idea is that a tower is constructed, and a large circle of the ground is covered with a material that sits 3-15 feet off the ground. Light can shine through the material, heating the air underneath the material and funneling it toward the only escape for the hot air, a tower at the center of the circle.

In the tower is a turbine. That turbine is turned by the heat rising upwards.

A successful research prototype operated in Spain in the 1980s, and many modelling studies have been published as to optimization, scale, and economic feasibility.

Here’s a video of the tower that was done in the 1980’s.

 UPDATE: Bernanke is worried! HR 1207 to Audit the Federal Reserve is Gaining Momentum FAST! (Video)

HR 1207 up to 213 co-sponsors! Time to hit the companion bill, S. 604, which has NO co-sponsors. Read updated post here: http://www.breakthematrix.com/node/36442

An impromptu HR 1207 Call-A-Thon kicked off last week on twitter after I saw my rep (Kratovil) STILL hadn’t co-sponsored the bill. Much to my delight, he co-sponsored first thing the next morning!! We’re keeping it going this week over on twitter, but I’m starting this post so you guys can add your non-compliant reps to the target list.

We’ll hit a few a day, and see if we can get the 28 11 5 we need for a majority! Thanks guys!!

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