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Something Weird, And It Don't Look Good! (Mogambo Guru)

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Tace Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-04-06 07:12 AM
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Something Weird, And It Don't Look Good! (Mogambo Guru)
Richard Daughty, the angriest guy in economics -- World News Trust

Oct. 04, 2006 -- I don't know if it was because Total Fed Credit was down again by $3.7 billion last week, or that foreign central banks pulled out $12 billion from their account at the Fed, or that my wife is getting suspicious about something, or what, but something unnerving is in the air. And at times like these I think of the lyrics of the song "Ghost Busters" that goes something like, "Something strange in the neighborhood. Something weird, and it don't look good!" And if you saw the movie, you know he was exactly right!

The sensitive economic nose of The Mogambo goes "sniff, sniff, sniff," and I triumphantly announce that the stench is not my feet, as is commonly assumed, but the rotting, bloated, inflationary, gangrenous body of the economy, and it portends the dismal, bankrupted, angry, cataclysmic end of the stock/bond/real estate/debt/government bubble, but (sniff, sniff, sniff) apparently covered over with gravy and chocolate sauce.

Michael A. Nystrom, in his essay at BullNotBull.com titled "Dow Manipulation," seems to agree with me. He notes that the litany of bad news is overwhelming when he lists, "The yield curve has remained inverted for months; we had the first negative reading in the Philly Fed index in three years; national housing sales have plunged and prices are showing their first declines since 1993. The index of leading economic indicators has declined for seven straight months. Online advertising revenue is down; newspaper advertising revenue is down; the help wanted index is down. Across the board the economic news is terrible -- everything is pointing to a recession."

So why are the stock and bond markets rallying? Government manipulation! "It makes me consider," he says, "that the only thing standing between this market and a crash are the November elections." Then he says the one thing guaranteed to send The Mogambo into a fit of panic and screaming, namely that inflation is soaring. "Under normal circumstances," he says, "today's inflation report -- the highest inflation reading in 11 years -- would have absolutely creamed the market. There is, to put it mildly, something fishy about this market."

more

http://www.worldnewstrust.com/content/view/290/lang,en/
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Freedom_from_Chains Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-04-06 07:28 AM
Response to Original message
1. I've been telling people for some time that all of the foreign
governments that our holding our debt, so we can claim the economy is doing great, if they start dumping dollars back into the market we are in short, FUCKED.
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Felinity Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-04-06 07:29 AM
Response to Original message
2. Unfortunately, here's your answer K&R
20,000 Sailors Go To War - Massive US and Allied Naval Deployment

The first thread I read this morning: http://www.democraticunderground.com/discuss/duboard.ph...

We are now officially living the American Nightmare.

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papau Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-04-06 07:37 AM
Response to Reply #2
3. I like Michel Chossudovsky(your link) - but he doesn't get much traction
in the main stream press of any country - including his own (Canada).
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