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The Great Deceiver
- Written by Yves Smith | Tuesday, May 15, 2012
NAKED CAPITALISMMay 15, 2012
By: Yves Smith
Barack Obama swept into office on a tide of giddy enthusiasm. His “Hope and Change” was a pledge to reverse Bush era policies, including socialism for the rich, adventurism in the Middle East, and attacks on civil liberties. He announced his intention to serve as a transformational leader, invoking Abraham Lincoln, FDR and Ronald Reagan as role models. Despite the frigid temperatures, people poured into Washington, DC to hear his inauguration speech, wanting to be part of a remarkable passage.
It wasn’t simply that Obama was the first black president, but also that the economic devastation of the financial crisis opened up a historic opportunity to remake the social contract, to punish the reckless and greedy, no matter how lofty, and to build new foundations and safeguards for ordinary citizens. Obama, with his youthful vigor, his technocratic command of policy details, his “no drama” steadiness, his mastery of oratory, seemed uniquely suited to this time of need. His personal history of repeatedly breaking new ground fed optimism that he could do so for the nation as a whole.
Those times of heady promise are now a cruel memory. Again and again, Obama has shown his true colors. It isn’t simply that Obama lied. Politicians lie. But there are norms for political lying. The depth and dependability of Obama’s misrepresentations constitute a difference in kind.
His pattern of grand promises producing at-best-in-name only and at worst outright bait and switch was well established by his 2008 campaign. Some close observers pointed out his past legerdemain, for instance, his misleading account of his years in New York, his record of fronting for finance and real estate interests in Chicago, his promise to bring a state-wide health care program to Illinois, which in the end was walked back to a mere study. And there were more decisive tells in 2008: the high level of Wall Street funding for his campaign, the inclusion of neoliberal “Chicago boys” in his economics team, his reversal on FISA after promising to filibuster it, which gave retroactive immunity to telecoms for aiding and abetting illegal wiretapping, and his whipping for TARP.Obama didn’t make compromises necessary to lead effectively. He entered office with majorities in both houses and a country eager for a new direction. He has repudiated or retraded every pledge he made. He promised transformational leadership, and instead emulated Wall Street, devising complex programs that to sell average Americans short and reap his funders handsome rewards in the process. Rather than elevate his fellow citizens, Obama’s transactional focus and neoliberal philosophy have kicked the struggling middle class down the road greased by the right.
The ugly facts about how Obama has governed are beyond dispute. Numerous writers have set forth well documented bills of particulars against him, including “‘Lucy’ Obama and His ‘Charlie Brown’ Progressives” to “21 reasons why I will not vote for Obama in 2012” or “Obama’s Scandal List” (304 items long in 2009). And that’s before you get to the even longer list of despairing or outraged assessments on specific policy beats, such as this blog’s criticism of his coddling of the financial services industry, his failure to address festering problems in the housing market, his long-standing commitment to cutting Social Security and Medicare, and his refusal to address widening income inequality.
But even when you put aside the relentless propagandizing of the Democratic hackocracy and they way Obama has systematically neutered critics on the left, a mystery remains: why has his image remained largely immune to his performance? An insightful article in Australia’s The Age in January 2008 anticipated that Obama could not live up to his transformational promises even if he had made an earnest effort. It compared him to a high flying tech stock that would be hit by a sharp correction, and warned that the self-referential, messianic campaign would have to deal the disappointment that would come with trying to implementing the vision.
Yet puzzlingly, Obama retains a peculiar ability to elicit Pavlovian responses from many of his followers. Recall the press frenzy over the assassination of Osama bin Laden, who for years had been irrelevant to the operations of Al Qaeda. Contrast this reaction with the lack of widespread outrage over the fact that the Administration has bestowed on it the right to hit any American “suspect” the same way. Similarly, the beatification of Obama for his support of gay marriage gives him more credit than he deserves for a cold, political calculation. Obama can see that his opposition is virtually unchanged by this endorsement and he’ll win some serious funding. As Lambert points out:
The whole thing is also distressing because of the authoritarian followership involved. The one time anybody not in Obama’s charmed circle “made him do it” none of the doers claims credit for an amazing, generation-long triumph of courage and organizing skill (and, I might add, in the main, non-violent); the whole story is about Obama’s “evolution” instead of the house-by-house and family-by-family success of “coming out.” Gag me with a spoon.
Similarly, many of Obama’s betrayals go underreported. Obama promised to back labor and reneged. He vowed to support a card check bill that would facilitate the formation of unions at specific workplaces. After failing to act on it before the Democrats lost their filibuster-proof Senate majority, Obama simply declared it too difficult to pass, meaning not worthy of his time or political capital. He also pledged to the give 40,000 TSA employees the same bargaining rights as other Federal workers. Instead, after considerable delay, they were granted improved rights, but still less than those of other government employees.
Comparing the content of Obama’s actions with how they are presented to the public is key to understanding his distinctive skills as President. Obama, who sees the Great Communicator, Ronald Reagan, as his most important role model, is the Great Deceiver.
In many ways, Obama has simply taken the Reagan playbook to the next level. Reagan first and foremost was an actor, and succeeded in projecting sincerity, firmness of purpose, and idealism about America….in selling a story line developed and honed over the preceding decade by well-funded right wing think tanks and Madison Avenue marketers. But Republicans have been straightforward about their love of policies that favor the wealthy, their hatred of labor, their belief in American military dominance. Reagan was effective in promoting the idea that freedom was tantamount to economic choice. But democracy and the unrestricted operation of markets are in fact at odds, as we now know all too well. Many areas of commerce have advantages to scale, so successful operators will come to wield financial power, which they can turn into political clout.
It would be easier to come to grips with Obama if he could be more easily compared to past executives, whether actual or fictional. Obama’s intelligence and willingness to delve into details of policy issues resonate with the modern idealization of expertise, even when technocratically oriented Administrations have not fared well, at least for ordinary Americans. Famously, the “best and the brightest” of the Kennedy-Johnson era and Rubinite/Hamilton Project wonkery each paved the road to bad outcomes (the escalation of the Vietnam war, and the finance-friendly policies that produced the crisis, respectively).
At the same time, Obama is a stellar student of the best of Madison Avenue phrasemaking (don’t “signature strikes” sound innocuous?) and impressively polished even when off Teleprompter. Consider how Tom Engelhardt struggles to reconcile Obama’s veneer with his actions:
He has few constraints (except those he’s internalized). No one can stop him or countermand his orders. He has a bevy of lawyers at his beck and call to explain the “legality” of his actions. And if he cares to, he can send a robot assassin to kill you, whoever you are, no matter where you may be on planet Earth.
He sounds like a typical villain from a James Bond novel. You know, the kind who captures Bond, tells him his fiendish plan for dominating the planet, ties him up for some no less fiendish torture, and then leaves him behind to gum up the works.
As it happens, though, he’s the president of the United State, a nice guy with a charismatic wife and two lovely kids.
How could this be?
Engelhardt depicts a malevolent leader without using that word. It is hard to see a policy of drone strikes that have and will continue to kill innocents, a continuation of extraordinary renditions, and assassinations of American citizens merely suspected of terrorism, in any other light.
But his actions are detrimental not only for their overweening, super-hero-like force, but more often, for serving vested interests by being deliberately weak, badly watered down versions of real reforms (and correspondingly, notice how often Obama maintains he was boxed in by intransigent Republicans, when in fact they serve as convenient scapegoats for what he wanted to do anyhow?)
And by taking as much debate and energy as the genuine remedies, they prevent the topic from being revisited for years, if not decades. The frequently criticized Dodd Frank is one example, but the poster child is Obamacare. The program manages the difficult feat of worsening the fundamental problem of our health care system, which is bad incentives and resulting out-of-control costs. It enriched Big Pharma and the insurers rather than bringing them to heel. The result will be overpriced insurance that covers little. We’re seeing that start now as the FDA is looking into make a number of widely used drugs, such as high blood pressure and cholesterol medications, over the counter, which would mean they would not be covered by health care policies.
Readers of this blog are likely to argue that they have a jaded view of Obama, but still regard him as preferable to Romney. But they seem to fail to appreciate another layer of Obama’s deception, that his charm and unflappable demeanor mask his ruthlessness. It’s no accident that he chose Rahm Emanuel as his initial chief of staff, an enforcer and by all accounts one of the members of what was an unusually tight inner team. The Democrats are now indistinguishable from the Republicans in their mastery of Rovian playing on identity politics. Obama has also proven adept at neutralizing well positioned actual or potential threats, such as David Petraeus, Elizabeth Warren, and Eric Schneiderman.
Glen Ford, in “Why Barack Obama is the More Effective Evil” stresses that Obama gets what he wants and that makes him dangerous. Key extracts:
Let me say from the very beginning that we at Black Agenda Report do not think that Barack Obama is the Lesser Evil. He is the more Effective Evil….
They [Wall Street] invested in Obama to protect them from harm, as a hedge against the risk of systemic disaster caused by their own predations..They had vetted Obama, thoroughly, before he even set foot in the U.S. Senate in 2004.
He protected their interests, there, helping shield corporations from class action suits, and voting against caps on credit card Interest. He was their guy back then – and some of us were saying so, back then…
I have no doubt that New Gingrich and Republicans in general have worse intentions for the future of my people – of Black people – than Michelle Obama’s husband does. But, that doesn’t matter. Black people are not going to roll over for whatever nightmarish Apocalypse the sick mind of Newt Gingrich would like to bring about. But, they have already rolled over for Obama’s economic Apocalypse in Black America. There was been very little resistance. Which is just another way of saying that Obama has successfully blunted any retribution by organized African America against the corporate powers that have devastated and destabilized Black America in ways that have little precedence in modern times…
The real Obama was the initiator of this Austerity nightmare – a nightmare scripted on Wall Street, which provided the core of Obama’s policy team from the very beginning…
The real Obama retained Bush’s Secretary of War, because he was determined to re-package the imperial enterprise and expand the scope and theaters of war…
He would make merciless and totally unprovoked war against Libya – and then tell Congress there had been no war at all, and it was none of their business, anyway. And he got away with it.
Now, that is the Most Effective Evil war mongering imaginable. Don’t you dare call him a Lesser Evil. Obama is Awesomely Evil.
And remember, Obama has embraced deficit hawkery and has made “reforming” Social Security and Medicare a top priority for his next term.
Ford is right. Defending Obama as “the lesser of two evils” isn’t merely letting him off the hook for his betrayals. Those who take that position are actively enabling his conduct. They are part of the problem.
The success of gay rights activists shows how you effect change, and it isn’t primarily through the ballot box. Just like the successful program of the radical right launched in the the 1970s, these battles are fought on a much broader front, with national political change a lagging indicator of shifts in social tectonic plates. This a not a battle but a crusade, and takes more guts and tenacity than showing up and voting, or giving money to preferred candidates.
If you want this country to be different, you can’t just wish for it or expect voting to effect change. You need to be part of making it happen. And that was perhaps the greatest of Obama’s deceptions, that by listening to his seductive rhetoric, your passivity made you part of something greater and was tantamount to supporting change. That’s true only in the spiritual realm, not in the imperfect arena of here and now. Glenn Greenwald warned (emphasis his):
Obama is still a highly effective politician capable of this level of exploitation: exploiting people’s hopes and desires. When you combine that with the desire to believe — to feel once again that he will uplift people’s lives and that the hope one placed in him was justified and not misguided: nobody wants to feel like they were successfully defrauded — it’s an easy trick to repeat…that it’s a grand Manichean battle between Our Great Leader and Their Evil Villain — and there will be plenty of endorphins pumping through people’s brains. There will be enough to drown a large country.
Groups that have has a lasting impact on the social order – the Populists, the original Progressives, suffragettes, labor, blacks – organized outside the party system; indeed, when they were brought in the tent, they became less effective. The public has been told, again and again, the only choice is to hold your nose and select one of the two parties. It’s time we recognize that that myth no longer serves us.
Those of us who care about decency, the rule of law, constraints on corporate power, civil rights, and economic protections for the downtrodden have become complacent, and we are now reaping the bitter harvest of our neglect. Many of these protections seemed so fundamental that there has been a tremendous amount of denial over the speed at which they are being stripped from us. But these gains were not granted freely or easily by those in authority. They came about as a result of long, persistent, difficult campaigns. If we want to preserve the rights previous generations fought hard to win, we have to make this battle our own.
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Fox 26: The Disconnect Between The Market & Economy
In an exlusive interview on Fox 26 with Jose Grinon and Melissa Wilson discussing the disconnect between the financial markets and the real economy. I recently discussed this idea in much greater detail in an article entitled "The Great Disconnect: Markets Vs. Economy" wherein I stated:
"So, while the markets have surged to "all-time highs" - for the majority of Americans who have little, or no, vested interest in the financial markets their view is markedly different. While the mainstream analysts and economists keep hoping with each passing year that this will be the year the economy comes roaring back - the reality is that all the stimulus and financial support available from the Fed, and the government, can't put a broken financial transmission system back together again. Eventually, the current disconnect between the economy and the markets will merge. My bet is that such a convergence is not likely to be a pleasant one."
Weak wage growth, elevated levels of unemployment, and rising prices for food and energy continue to chip away at the fabric of the American economy even though the Fed continues to inflate asset prices further. The reality is that we are like inflating the next asset bubble as I discussed in early March of this year:
Don’t misunderstand me. As we wrote last week - it is certainly conceivable that the markets could attain all-time highs. The speculative appetite combined with the Fed’s liquidity is a powerful combination in the short term. However, the increase in speculative risks combined with excess leverage leave the markets vulnerable to a sizable correction at some point in the future.
The only missing ingredient for such a correction currently is simply a catalyst to put "fear" into an overly complacent marketplace. There is currently no shortage of catalysts to pick from whether it is further fiscal policy missteps stemming from the upcoming "Debt Ceiling" debate, a resurgence of the Eurozone crisis, or an unexpected shock from an area yet to be on our radar.
In the long term it will ultimately be the fundamentals that drive the markets. Currently, the deterioration in the growth rate of earnings, and economic strength, are not supportive of the speculative rise in asset prices or leverage. The idea of whether, or not, the Federal Reserve, along with virtually every other central bank in the world, are inflating the next asset bubble is of significant importance to investors who can ill afford to once again lose a large chunk of their net worth.
It is all reminiscent of the market peak of 1929 when Dr. Irving Fisher uttered his now famous words: "Stocks have now reached a permanently high plateau." The clamoring of voices that the bull market is just beginning is telling much the same story. History is repleat with market crashes that occurred just as the mainstream belief made heretics out of anyone who dared to contradict the bullish bias.
Does an asset bubble currently exist? Ask anyone and they will tell you "NO." However, maybe it is exactly that tacit denial which might just be an indication of its existence.
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- • Retail Sales In Decline
- • Deflationary Presssures Rising - PPI
- • CHART OF THE DAY: Negative Net Export Pric...
- • NFIB - Shows Flaws In Current Policy Mix
- • Why Spain's Bailout May Spell The End Of Th...
- • Trade - A Wholesale And Int'l Disappointmen...
- • Risks To The Market Rebound
- • Forecasting The Rebound And Bottom
- • St. Bernanke's Fight Against The Deflation ...
- • CHART OF THE DAY: US Best Place To Invest
- • ISM Composite - Economic Weakness Returns
- • TheStreet.Com - Gold Run Not Over
- • The Lie That Is Social Security
- ► May (27)
- • Yahoo! Summer Portfolio Management Ideas
- • Yahoo! Low Interest Rates Hurts Economy
- • Fox Business - Tending Your Portfolio
- • CNBC - Eurozone Slowdown Will Impact US
- • Housing Recovery - Hope and Reality
- • Interview - Southwest Airlines, Facebook an...
- • Durable Goods Disappointing
- • 4-Issues For The Market Ahead
- • Richmond Fed Showing More Weakness
- • Sell Signal Confirmed - Initial Targets Set
- • Risk Ratio Indicating More Correction Comin...
- • Confirmed "Sell Signal" Approaches
- • Industrial Production And The Recovery
- • Composite Inflation Index Declines
- • Real Retail Sales Under Pressure
- • Sex, Money and Largesse - The Hidden Depres...
- • Trade Defict - Confirming Weaker Q1 GDP
- • The Clock Is Ticking On The Next Eurozone C...
- • Initial Sell Signal In - Confirmation Is Li...
- • NFIB - Optimistic But Still At Recessionary...
- • Economic Trends Don't Paint A Robust Pictur...
- • Strategic Investment Conference - Dr. Lacy ...
- • Strategic Investment Conference - David Ros...
- • Strategic Investment Conference - Dr. Woody...
- • Strategic Investment Conference - Niall Fer...
- • 3 Likely Triggers Of The Next Recession
- • ISM Report Bucking The Trend
- ► April (19)
- • The "Consumption Dysfunction" Continues
- • Q1 GDP - Weaker Than Expected
- • Social Security Has A Real Problem - Employ...
- • Decline In Durable Goods Indicative Of Broa...
- • Impatience Will Lead To Our Demise
- • Market Cracks Support - Correction Gets Ser...
- • LEI - Slower Growth Of The Growth Update
- • Philly Fed Points To Weaker Profits Ahead
- • Mother Nature's Bail Out Coming To An End
- • 10 More Years Of Low Returns
- • 5 Mistakes That Will Crush Your Retirement ...
- • Earnings Likely To Be "Better Than Expected...
- • Market Hits Support - Now What?
- • The Return Of Economic Weakness
- • The Correction Has Started
- • The "Real" Employment Report - March 2012
- • Now The Media Is Hooked On QE Crack
- • Wave 5 Of The Cyclical Bull Market
- • CHART OF THE DAY: Signs Of Recovery?
- ► March (24)
- • The Consumption Dysfunction
- • WTF! Chart Of The Day
- • An Update On Margin Debt
- • Hyperinflation Isn't A Threat
- • Surprise! Jobs Drive Consumer Confidence
- • Death Of The Gold Bull Market?
- • Housing And The Elusive Recovery
- • LEI - Slower Growth Of The Growth
- • The Long Road Ahead
- • The "Fly" In Ryan's Budget Ointment
- • 1.8 Million Jobs Lost In 2012
- • Why 4% GDP Will Remain Elusive
- • The Stretching Of Limits
- • Rising Costs And Profit Margins
- • Retail Sales - A Lot About Weather
- • Correction: There Has Been No Correction
- • CHART OF THE DAY: Ceridian-UCLA PCI
- • NFIB - Index Up But Internals Weaken
- • Employment Report And The Market
- • Is The Investing Game Rigged?
- • OIl Prices Will Hurt The Consumer
- • Has The Correction Started?
- • The Immediacy Trap
- • 1st Quarter GDP To Be Much Weaker
- ► February (22)
- • Oil Prices WILL Slow The Economy (Revised)
- • Don't Feed The Animals
- • The Housing Recovery In One Index
- • Consumer Sentiment Responds To Market Rally
- • The Straw That Potentially Breaks The Camel...
- • Media Headlines Will Lead You To Ruin
- • Philly Fed Future Activity Points To Weakne...
- • Housing Headlines Improve - Reality Doesn't
- • The "Real" American Dream
- • Industrial Production - The Revival May Hav...
- • Consumer Confidence Has Everything To Do Wi...
- • NFIB - Optimistic But Still In The Foxhole
- • Financial Stress Composite Rising
- • Trade Data Trends Signal Weakness Ahead
- • Consumer Credit And The American Conundrum
- • Is Now The Time To Jump In?
- • Gold - The Technical Rundown
- • Bringing The NILF Mystery To Light
- • Gallop Points To Weaker Employment Report T...
- • Earning Less - Why The Poor Get Poorer
- • ISM - Misses Expectations
- • ADP Signals Weak Job Report Friday
- ► January (23)
- • Chicago ISM - Has The Recovery Peaked?
- • Home Prices Fall Further
- • PCE Points To Weaker GDP Ahead
- • Q4 GDP - "Prognosis Still Negative"
- • Fed Meeting - Reconciling A Weak Economy
- • Why Home Prices Have Much Further To Fall
- • IMF Cuts Global Forecast - US Won't Dodge T...
- • Complacency Risk Is High
- • Prices Paid And Coming Earnings Weakness
- • Housing Is Not Affordable
- • Industrial Production Confirming Changes To...
- • Patiently Waiting For The Golden Cross
- • Consumer Sentiment Rises - Still In Recessi...
- • Why QE3 Won't Help "Average Joe"
- • Industrial Production May Be About To Weake...
- • Consumer Spending May Dissapoint
- • NFIB - Small Businesses More Optimistic
- • Markets Throw Off A Buy Signal
- • The Real Employment Situation Report For De...
- • Improvement In Employment - At Least For No...
- • Markets Getting Over Bought / Over Bullish
- • Market Rallies To Resistance - Now What?
- • ISM & Construction Spending - Modest Improv...
- ► December (19)
- ► 2011 (277)
- ► December (22)
- • 2012 Outlook - Anything Other Than The Apoc...
- • Q3 GDP - "Prognosis Negative"
- • The Eurozone Is Saved?
- • Market Rally To Nowhere
- • Housing Starts Up - Patient Still Critical
- • NAHB Housing Market Index
- • A Little Followed Indicator Hints At Recess...
- • Inflation Pressures Rising In The Core
- • Economic Deluge - Economy Shows Some Positi...
- • Is The Gold Run Over?
- • Import Prices Jump - Recession Odds Increas...
- • NFIB - Bounce Off The Bottom
- • No Holiday Cheer In Retail Sales
- • A Million Dollars Ain't What It Used To Be
- • STA RIsk Ratio Turns Up - We've Seen This B...
- • Consumer Sentiment Ticks Up
- • What Are Initial Claims Not Telling Us?
- • Is Consumer Spending Really Surging?
- • Could Gasoline Prices Trigger A Recession
- • Market Rallies Into EU Meeting
- • ISM Composite Index Ticks Up
- • The Real Employment Situation Report
- ► November (29)
- • Economic Data - Headlines Bullish
- • Markets Surge As World Engages In Global Ba...
- • Was That The Consumer's Last Gasp?
- • Housing - The Margin Effect
- • Economic "Run Down" - Weakness Emerges
- • GDP - Revised Down
- • Is Market Warning Of The Next Lehman Event?
- • EOCI Index Improves - Is It All Clear?
- • Philly Fed Survey - Predicting A Peak In Ea...
- • US Debt To GDP Now 98.9% And Rising
- • Inflation - A Continued Problem For Consume...
- • Economy Shows Tenative Signs Of Improvement
- • Debate - Is US Becoming Japan
- • Presidential And Decennial Cycles - What Ab...
- • Consumer Sentiment Driven By Market Rally
- • Net Export Prices Turn Down
- • What "Average Joe" Really Thinks
- • Blood Bath As Italy Faces Crisis
- • Are Oil Prices Confirming ECRI Recession Ca...
- • Oil Price Spike Update
- • No Joy In NFIB Report
- • Market Vs Economic Cycles And Sector Rotati...
- • Employment - The Good, Bad & Ugly
- • ISM Non-Manufacturing Index - Not Adding Up
- • Productivity Up - Costs Down
- • Fed's Outlook Much Weaker Than Reported
- • Food Stamp Usage Sets New Record
- • Fed Trapped By Inflation
- • Manufacturing Not Showing GDP Strength
- ► October (24)
- • STA Risk Ratio Turns Up
- • Buy Signal Is In - But Move Slowly
- • Recession Still Likely Despite Bump In GDP
- • A Haircut, Boost and Drop
- • New Homes Sales - Glued To The Bottom
- • Consumer Is Key To Next Recession
- • Case-Shiller 20-City Index Flat As HARP Wil...
- • CFNAI - Better But Still Negative
- • Understanding Federal Debt: Point - Counter...
- • Temporary Bounce In Philly Fed Confirmed By...
- • Inflation Rises Along With Housing Hopes
- • Snipe Hunting In The Housing Market
- • Der Spiegel is Der Wrong
- • Inventories, Sentiment and Sales - Behind T...
- • The Empire Is Tarnished
- • A JOLT To The System
- • NFIB and PCI - More Signs Of Weakness
- • 1929-45 Vs Today - Following The Same Path
- • Unemployment Report Worse Than It Looks
- • Bearish Sentiment Abounds
- • ISM Composite Index - Been Here Before
- • Yield Spread Confirming Recession Call
- • Market Breaks Its Neck
- • ISM Manufacturing Index - Backlog Drawdown ...
- ► September (34)
- • 5 Months Down - Time For A Bounce?
- • Economic Trifecta - But No Winners
- • Economy Upticks & Jobless Claims Fall
- • Gallup - Economic Confidence Slides
- • Can Margin Debt Give Us A Clue On Market Di...
- • Euro Tarp - Why It Will Be A Screaming Fail...
- • Consumer Doldrums
- • Chicago Fed National Activity "Slowing Down...
- • End Of Week Technical Wrap Up
- • The Yield Spread Is Lying About The Coming ...
- • Leading Indicators Predict Weaker Economy
- • Why The Fed's "Silver Bullet" Won't Kill Th...
- • Fed Buy's Paltry $ 400 Billion - Need A Hug...
- • Market Weak - Waiting On The Fed
- • Housing Still A Drag
- • Consumer Confidence Remains At Lowest Level...
- • Coordinated Central Bank Intervention Creat...
- • Philly Fed Survey - Predicting Recession
- • CPI Rises - Inflation Hits Home
- • Consumers Tapping Out Savings To Spend
- • PPI - Pushing A Slowdown
- • NFIB Confidence Slides Lower
- • Export Prices Still A Negative For The Econ...
- • The Great American Economic Lie
- • High Yield Spread Signaling Recession
- • The Economy Weakens More
- • Obama's $ 400 Billion For Jobs And Counting
- • Trade Deficit - Points To Possible Uptick I...
- • Another Domino Falls For The Market
- • Corporate Profits Are In Trouble
- • Are Stocks Undervalued?
- • European Markets Down Sharply
- • Jobs - What Jobs?
- • Why Unemployment Is About To Surge
- ► August (38)
- • Market Bounce OR New Bull Market
- • Chicago ISM Confirms Weakness
- • Consumer Confidence Collapses - Again
- • Personal Incomes Still Under Pressure
- • Annotated Bernanke Speech - The Elusive Eco...
- • Corporate Profits - Hinting At Recession
- • GDP - Revised Down
- • The Deficit Spending Trap
- • Will Ben Go For Another Round Of QE?
- • Boomers - Are Going To Be A Real Drag
- • No Job = No New House
- • Beware Of Long Term Investing Advice
- • Technical Market Overview
- • EOCI Index Now At Recession Levels
- • Composite Inflation Index Warning Of Slower...
- • 7 Things That Make Me Worried
- • The Difference Between "WHAT" and "WHEN"
- • Empire Fed Index - 3 Strikes You're Out
- • Rosenberg On The Economy
- • Consumer Confidence Collapses
- • Trade Deficit Points To Sub-1% 2nd Qtr GDP
- • 7 Things My Mom Taught Me About Investing
- • Blood In The Streets - Part II
- • Ceridian UCLA Consumer Pulse - Going Flatli...
- • Market Bounce - Was It Stealth QE3?
- • FOMC Meeting Ends - No Change To Stance
- • NFIB Survey Says...Higher Taxes Won't Work
- • Panic Attack! Markets Extremely Oversold
- • Employment Report Less Than Meets The Eye
- • Market Trashed Again! Panic Hits.
- • Recession Almost A Certainty
- • QE 3 Coming - But Won't Save The Economy
- • Yield Curves & The Fed Model
- • ISM Composite Index - Continues Decline
- • Market Trashed - What Now?
- • Personal Income Under Pressure
- • ISM - Clinging On For Dear Life
- • Debt Deal - A Complete Failure
- ► July (38)
- • We Are All Guessing
- • Dismal Economic Numbers
- • 10 Lessons Learned From Poker
- • STA Risk Ratio - Still On Sell Signal
- • GDP - 2nd Quarter Estimate
- • Consumer Un-Confidence
- • Are We Headed For A Second Recession? Upda...
- • Chicago Fed National Activity Index Confirm...
- • Decline In Profits Leads Index
- • EOC Index Shows Economic Weakness
- • Help Wanted - Not So Much
- • Existing Home Sales - A Resumption Of Decli...
- • Housing Starts - Bouncing Along The Bottom
- • You Can't Have A Jobless Recovery
- • NAHB Housing Index - No Signs Of Life
- • Commentary: A Default Would Devastate D.C.-...
- • Tax Reform -The Overlooked Solution
- • Empire Index - Harbinger Of Bad Things To C...
- • Consumers Believe It's Really A Recession
- • Inflation Index Flashes Warning
- • Bernanke Gives US Congress "The Finger"
- • Retail Sales & Jobless Claims
- • Why The Trade Deficit Is Warning Of Weak GD...
- • QE 3 - "To Infinity And Beyond"
- • No Fear - That's Not A Good Thing
- • More Fed Stimulus - As Expected
- • NFIB - No Jobs For You
- • Why Economists Don't Have A Clue About Jobs
- • Raising Taxes Won't Raise Revenue
- • Why The Jobs Report Is Worse Than It Seems
- • Why Oil Price Spikes "Feel" Worse
- • The Average Investor Doesn't Stand A Chance
- • How To Just Get By On Food Stamps
- • Jobless Still Jobless- Teens Hired For The ...
- • ISM Composite Index Showing Contraction
- • Outperforming The Market By 30% With No Ris...
- • ISM Report - Little To Be Excited About
- • Greenspan - QE Was A Failure
- ► June (38)
- • Market Failed At Resistance - Now What?
- • Full Employment - Hope vs Reality
- • Existing Home Sales Reflect Balance Sheet R...
- • Myths Of Retirement Planning
- • Implications Of Household Debt Deleveraging
- • LEI Warning Of Economic Stumbling Economy
- • Greece Ripple Effects Could Create US Finan...
- • Consumer Confidence Falls
- • Economy Failing Right On Time
- • New Home Starts - It's The Job Market Stupi...
- • Composite Price Index - Pushing Upper Limit...
- • Empire Composite Index Signals Economic Con...
- • PPI - Ratio Pointing To Economic Weakness
- • NFIB Employment Expectations Dispells 5% Ec...
- • Trade Deficit - A Roadmap To Economic Stren...
- • How Far Might A Bounce Go?
- • What Is Really Driving The Weakness In The ...
- • Obama Says He Has No Fear Of A Double Dip
- • NYSE Margin Debt
- • Beranke Speech - A Prelude To QE 3
- • Don't Get Suckered!
- • QE3 - Just A Matter Of Time
- • Job Report Shocker
- • Where's My Bottom
- • STA Risk Ratio Indicator Update - Still Cor...
- • ISM Composite Index Confirmed Market Top
- • Not The American Dream I Was Told About
- • Never Buy Stocks Again? Seriously?
- • Where Is The Confidence?
- • ISM Manufacturing Report Hits The Brakes
- • A Weaker Dollar Equals A Weaker Economy
- • Market Bounce
- • SF Bay Bridge - "Made In China"
- • Consumer Confidence At Recession Levels
- • The Decline Of The American "Saver"
- • Greece Fire - NY Post
- • The Breaking Point
- • Financial Profits Reduce Economic Prosperit...
- ► May (32)
- • Consumer Confidence Falls
- • Slide In Corporate Profits - Part II
- • Personal Incomes Still Feeding The Gas Tank
- • Change In Corporate Profits Leads To Market...
- • Economic Surprises - The Wrong Kind
- • New Orders For Durable Goods - Another Nail...
- • STA Buy/Sell Indicator Flashes Sell Signal
- • New Home Sales Not Inspiring
- • STA Economic Output Index Takes A Plunge
- • Debt To GDP And A Sustainable Level
- • The Virtuous Cycle Of The Economy
- • Economy Shifting Into Slower Gear
- • 7 Impossible Trading Rules To Follow
- • Housing Starts Fall - Again
- • Cyclical Bull Markets In Secular Bear Marke...
- • Empire Manufacturing Index
- • More Inflation For Consumers!
- • Headline Inflation Pushing Up
- • Weakness In GDP Continues (X-M)
- • Small Business Optimism Getting Worse!
- • Import Prices Flashing Warning Signal
- • Home Prices Following The Path To Destructi...
- • The Hyperinflation Index
- • Unemployment Rate Climbs To 9.0%
- • The Link Between Productivity & Jobs
- • Commodities Stumble
- • Jobless Claims Jump
- • ISM Composite Index vs S&P 500
- • ADP & ISM Non-Manufacturing Index Have A Lo...
- • Gallup: More Than Half Of Americans Still S...
- • "Let Them Eat IPads"
- • Have We Seen The Peak In This Business Cycl...
- ► April (22)
- • Fallacy Of The Falling Dollar
- • 1.8% GDP Not So Great!
- • Bernanke's Folly - High Oil Prices Are Flee...
- • Consumer Confidence - STILL Not So Confiden...
- • Tracking The Next Gasoline Induced Recessio...
- • New Home Sales Tick Up
- • STA Risk Ratio Throwing Off Warning Signal
- • The Philly Fed Survery Says....#&^%@!!
- • Americans Receive MORE In Government Handou...
- • NYSE Margin Debt Reaching Danger Zone
- • Housing Starts Not Starting
- • Pitchfork and Torches For The Rich
- • S&P Downgrades US Credit Outlook To Negativ...
- • Why You Can't Invest For The "Long Term"
- • Jobless Claims & PPI - Not Looking Better
- • Who Pays The Taxes!
- • Retail Sales Confirms Consumer Weakness
- • Gallop Poll Confirms NFIB Index - Economy S...
- • Small Business Still Not Optomistic
- • Trade Deficit Narrows - But Not In A Good W...
- • NYSE Margin Debt Climbs
- • High Commodity Prices Not The Result Of The...
- ► December (22)


