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Wednesday, August 31, 2011

Going Jetskiing In Irene's Honor (in LONG ISLAND, NY) - VIDEO

Going Jetskiing In Irene's Honor (in LONG ISLAND, NY) - VIDEO

Buffett Investment Could ERODE Confidence in BIG BANKS

Buffett Investment Could ERODE Confidence in BIG BANKS

Tuesday, August 30, 2011

'Ninja' PATROLS streets of UK (VIDEO) & cops SUPPORT IT

'Ninja' patrols streets of UK (VIDEO) & cops SUPPORT IT

Made in China: Chinese Make ‘Homemade’ Gears (SUBMARINES, ETC) from Recycled Materials (PHOTOS)

Made in China: Chinese Make ‘Homemade’ Gears (SUBMARINES, ETC) from Recycled Materials (PHOTOS)

It's not what we eat but what we digest that makes us strong; not what we gain but what we save that makes us rich; not what we read but what we remember that makes us learned; and not what we profess but what we practice that gives us integrity."

It's not what we eat but what we digest that makes us strong; not what we gain but what we save that makes us rich; not what we read but what we remember that makes us learned; and not what we profess but what we practice that gives us integrity."
Philosopher, Francis Bacon

HARVARD for TYRANTS: How Muammar al-Qaddafi taught a generation of bad guys.

HARVARD for TYRANTS: How Muammar al-Qaddafi taught a generation of bad guys.

Impossibilities are merely the half-hearted efforts of quitters. -Orison Swett Marden

Impossibilities are merely the half-hearted efforts of quitters. -Orison Swett Marden

"The only consequence is what we do" - John Ruskin

"What we think or what we know
or what we believe is, in the
end, of little consequence.
The only consequence is what we do"
- John Ruskin

there is REALLY NO RELIABLE evidence of hurricane-force winds at any time the storm was approaching North Carolina or moving up the East Coast.... (CHARTS, PICTURES, DEFINITIONS!)

there is REALLY NO RELIABLE evidence of hurricane-force winds at any time the storm was approaching North Carolina or moving up the East Coast....

Bill Gross, the manager of the world's largest bond fund, feels like "crying in his beer" for having bet so HEAVILY against U.S. government-related debt earlier this year!

Bill Gross, the manager of the world's largest bond fund, feels like "crying in his beer" for having bet so HEAVILY against U.S. government-related debt earlier this year

Don't WORRY, Wall St Coming Up With New Ways to RIP OFF Investors (STRUCTURED NOTES)

Don't WORRY, Wall St Coming Up With New Ways to RIP OFF Investors (STRUCTURED NOTES)

Monday, August 29, 2011

Federal Court says public has right to video police in public places!

Federal Court says public has right to video police in public places

US in recession NOW? Charts, data. How long can Bernanke fight GRAVITY?

US in recession NOW? Charts, data. How long can Bernanke fight GRAVITY?

"Weakest RECOVERY ON RECORD - Chief Economist BNP Paribas" - VIDEO

"Weakest RECOVERY ON RECORD"

National Guard NJ Driving Underwater?? (VIDEO)

National Guard NJ Driving Underwater?? (VIDEO)

3 Charts From SocGen On Why The "JAPANESE SCENARIO" Means Investors Should "Be AFRAID, Be Very Afraid"

3 Charts From SocGen On Why The "JAPANESE SCENARIO" Means Investors Should "Be AFRAID, Be Very Afraid"

"A Japanese-style scenario for the US could gain traction, particularly if there is no real estate recovery in the US, high unemployment levels persist, and economic sentiment remains depressed."

‎"Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away." Antoine de Saint-Exupery

‎"Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away." Antoine de Saint-Exupery

Why Grilled Cheese Is The Next Frontier Of Technology $MCD $CMG $SBUX by @pegobry

Why Grilled Cheese Is The Next Frontier Of Technology

Sunday, August 28, 2011

If we all did things we are capable of doing, we would literally ASTOUND ourselves. Thomas A. Edison

If we all did things we are capable of doing, we would literally astound ourselves. Thomas A. Edison

Reporter Gives Update Covered In 'Sea Foam' (Aka 'sewage') -VIDEO

Reporter Gives Update Covered In 'Sea Foam' (Aka 'sewage') -VIDEO

"**WARNING** "As Hurricane Irene prepares to batter the East Coast, federal disaster officials warn that Internet outages could force people to interact with other people for the first time in years."

**WARNING**
As Hurricane Irene prepares to batter the East Coast, federal disaster officials warn that Internet outages could force people to interact with other people for the first time in years. Residents are bracing themselves for the horror of awkward silences and unwanted eye contact. FEMA advises: “Be prepared. Write down possible topics to
talk about in advance. Sports...the weather. Remember, a conversation is basically a series of Facebook updates or Tweets, strung together.”

Friday, August 26, 2011

Rick Perry 'teacher death life insurance speculation' scheme? WHAT??

Rick Perry 'teacher death life insurance speculation' scheme? WHAT??

"The notes make clear that the governor's proposal deliberately targeted the elderly. The state was only seeking to take out life insurance on people between the ages of 75 and 90. At a separate meeting five days later, the plan's proponents discussed the "mental capacity" of these retirees to grant consent as one of three major technical obstacles to the plan, according to notes from that meeting.
At the first meeting, Morrissey said it could take 10 to 12 years for Texas to "earn" money from the scheme, but insisted the deal could be worth up to $700 million for the state if the retirement fund could sign up 40,000 retired teachers.
The meeting notes show Insurance Commissioner Jose Montemayor, a Perry appointee, joined Morrissey in the sales pitch, claiming that "this arrangement" was already being utilized by "some very rich people" who had set up similar plans to benefit the University of Texas and Texas A&M."

Hollywood Guide To Speaking Chinese (Hilarious Video!!)

Hollywood Guide To Speaking Chinese (Hilarious Video!!)

“I want fear” says TOP bond manager

"Jeffrey Gundlach’s DoubleLine Capital LP is favoring cash over almost all investments including corporate bonds, wagering that relative yields will widen even after expanding to the most since October 2009.

“I want fear,” Gundlach, the founder and head of Los Angeles-based DoubleLine, said in an Aug. 24 telephone interview.

 “I want to buy things when people are afraid of it, not when they think that it’s a gift being handed to them,” he said of speculative-grade bonds.

Some of DoubleLine’s funds, which usually don’t hold any cash, currently are allocating 15 percent, said Gundlach, who managed the top-rated intermediate-term U.S. bond mutual fund for 15 years.
DoubleLine’s Multi-Asset Growth fund, which can invest across asset classes
and market sectors, holds 30 percent in cash, he said.

DoubleLine has attracted about $14 billion since its December 2009 inception. Gundlach previously co-managed the TCW Total Return Bond Fund (TGLMX) with Philip Barach. Gains averaged 7.5 percent annually in the five years ended Dec. 4, 2009, which compares with 7 percent for the Total Return Fund run by Bill Gross of Newport Beach, California-based Pacific Investment Management Co., the world’s largest bond fund. Barach is also at DoubleLine."

Is There 'Eligibility' for the DEATH PENALTY In China for Refusing to DELETE Lady Gaga, Katy Perry, Backstreet Boys? (to preserve China's "national cultural security.")

Is There 'Eligibility' for the DEATH PENALTY In China for Refusing to DELETE Lady Gaga, Katy Perry, Backstreet Boys? (to preserve China's "national cultural security.")

"Sites were told in the Aug. 19 announcement posted to the ministry's website that they had until Sept. 15 to carry out "self-correction" and delete the songs. It said violators would be punished, but didn't outline the penalties they would face.

It didn't say that the listed songs were objectionable, just that they had not been approved for distribution.

The Chinese government carefully screens the content of imported entertainment content for political messages or commentary that runs contrary to its official line."

"QUALITY is more important than quantity. ONE HOME RUN is much better than two doubles." - steve jobs

"quality is more important than quantity.  one home run is much better than two doubles." - steve jobs

Thursday, August 25, 2011

AppleGrandCentral.com: New Apple CEO Tim Cook: 'I'm Thinking Printers'

AppleGrandCentral.com: New Apple CEO Tim Cook: 'I'm Thinking Printers'

"Cook concluded his remarks by assuring investors the release of upcoming Apple products such as the iPhone 5 would be postponed for at least four years so the company could throw all its time and resources into the creation of high-quality printers for the home and office."

A Perfect Warren Buffet Deal to Be Protected By NEXT 'Bailout Round' for Bank of America!

Does Warren Buffet get ANOTHER RISK FREE INVESTMENT on preferred shares?

If things go wrong he  seems to be 'front-running' another Bank of America bailout to get his guaranteed 6% dividend while other shareholders get shafted?

Another great capitalist 'free market story'?  American taxpayers get shafted, bank gets bailed out again to protect those who made stupid mistakes and should not have their jobs in a real 'free market system'

Do morning people have a professional EDGE??

Do morning people have a professional EDGE??

"The answer may be yes. As part of research published last year by Harvard Business Review, biologist Christoph Randler found that people who were most energetic in the mornings were more likely to identify long-range goals for themselves and feel in charge of making things happen. Other research has shown that such people get better grades in school."

"If you run into a wall, DON'T turn around and GIVE UP. FIGURE OUT HOW TO CLIMB IT, go through it, or work around it." - MICHAEL JORDAN

If you're trying to achieve, there will be roadblocks. I've had them; everybody has had them. But obstacles don't have to stop you. If you run into a wall, don't turn around and give up. Figure out how to climb it, go through it, or work around it. 
Michael Jordan 

"I've failed over and over and over again in my life. And THAT IS WHY I succeed."

I've missed more than 9000 shots in my career. I've lost almost 300 games. 26 times, I've been trusted to take the game winning shot and missed. I've failed over and over and over again in my life. And THAT IS WHY I succeed.
Michael Jordan

Initial Claims SURGE FAR HIGHER Than Consensus, 1.2 Million Americans Have Dropped Off Extended Benefits Claim In Past Year

Initial Claims SURGE FAR HIGHER Than Consensus, 1.2 Million Americans Have Dropped Off Extended Benefits Claim In Past Year

Wednesday, August 24, 2011

GENIUSES at Bank of America EARNING next brownie points for upcoming bailout!

GENIUSES at Bank of America EARNING next brownie points for upcoming bailout!

"Never give in--never, never, never, never, in nothing great or small"


Never give in--never, never, never, never, in nothing great or small, large or petty, never give in except to convictions of honour and good sense. Never yield to force; never yield to the apparently overwhelming might of the enemy.

Sir Winston Churchill, Speech, 1941, Harrow School

Saturday, August 20, 2011

"mob is coming here in six months"

A mob is coming here in six months to hang the other ninety-five of you damned scoundrels, and I'm undecided whether to stick here with you or go out and lead them."

— Huey Long, Senate floor speech (Williams p. 626)

"$1000 Best. Roommate. Ever." Very funny Cragislist ad!

"$1000 Best. Roommate. Ever." Very funny Cragislist ad!

" only one nation can save Europe from financial Armageddon: a highly reluctant Germany. The ironies—like the fact that bankers from Düsseldorf were the ultimate patsies in Wall Street’s con game—pile up quickly as Michael Lewis investigates"

" only one nation can save Europe from financial Armageddon: a highly reluctant Germany. The ironies—like the fact that bankers from Düsseldorf were the ultimate patsies in Wall Street’s con game—pile up quickly as Michael Lewis investigates"

ATT Sues Those Opposing Massive Merger!

ATT Sues Those Opposing Massive Merger!

U.S. Stock Market: Who Has the Upper Hand Now - Bulls or Bears?

U.S. Stock Market: Who Has the Upper Hand Now - Bulls or Bears?

"Economist Ed Yardeni, who now runs Yardeni Research Inc. of Great Neck, N.Y., coined the term "bond vigilantes" in the 1980s to describe the institutional investor practice of selling bonds and shorting bonds of governments when they see unsustainable fiscal policies and/or other actions by governments or companies that the institutional investors believe will lower the value of the bonds issued.
Two Views of Market
With the above as background, what's ahead for the Dow and the markets? Here are the arguments:
The bears continue to argue that absent adequate, sustained, monthly job growth of at least 150,000 to 200,000 new jobs per month, the U.S. economy will continue to grow at, at best, a tepid rate, weighing on both corporate revenue growth and earnings growth. Hence, the bears see a Dow falling to 10,000, and possibly to 8,100."

Wednesday, August 17, 2011

Tuesday, August 16, 2011

London-style riots a SCARY possibility in U.S.

London-style riots a SCARY possibility in U.S.

"Others, like British Prime Minister David Cameron, blame "criminality, pure and simple." That echoes descriptions of some recent episodes of mob behavior in places like Philadelphia, Milwaukee, Chicago and Ohio. Stores have been pillaged, passers-by robbed, and random victims brutally attacked by dozens or occasionally hundreds of youths summoned through tools like Facebook and Twitter."

""More flashing red recessionary indicators are coming courtesy of the largely ignored High Yield market"

"More flashing red recessionary indicators are coming courtesy of the largely ignored High Yield market, which following a 5.3% decline is, as Bank of America (itself ironically contributing substantially to the blow out) says, is shaping up to be "among the worst months in the HY market's 25 year history, in a bad company of post-Lehman, post-WorldCom, post-9/11, and post-Russia sell-offs. The difference of course is that we did not have the largest bankruptcy in history taking place (LEH or WCOM shared that title at a time), no terror attack, and no outright sovereign default (Russia in Aug ’98). What we did have however, is a global risk-off trade, sparked by concerns that this fragile environment could slip into a double-dip recession as consumer and business confidence fails to sustain repeated beating from sovereign and financial systemic risk issues." What we also did have is the near end of the modern ponzi economic model, whose viability was once again extended courtesy of a variety of sticky objects thrown at the wall with hopes one sticks. For now the obliteration has been halted, although one thing is undeniable - central planner intervention buys increasingly less and less time. We are confident that August is just the beggining of pain for not only HY, but all other asset classes. And some more ammo for those who like comparing 2011 to 2008: "Parallels are being drawn between today’s environment and that of 2008, given the degree of equity destruction that has taken place across the financial space. Financial CDS – the epitome of ’08 systemic risk – are trading at an average of 190bp in the US, within reach of Oct ’08 levels, and 240bp in Europe, well north of their ’08 wides." What do spreads imply? Nothing short of recession: "The HY index, in the meantime, has widened to 739bp as of close on Thursday, its widest level since Nov 2009. With the spread normally peaking at 1,000bps in full recessionary periods2 (1991 and 2001-02) and bottoming at 250bp in times of strong economic growth, the current level is pricing in an 80% probability of a fullblown contraction in GDP, and a 100% chance of a mild recession.""

Roubini Warns of Global Recession Risk (Video)

Roubini Warns of Global Recession Risk

"Economist Nouriel Roubini says the risk of a global recession is greater than 50 percent, and the next two to three months will reveal the economy's direction. In an interview with WSJ's Simon Constable, Roubini also says he's putting his money in cash. "This is not the time to be in risky assets," he says."

Monday, August 15, 2011

Great video: 'get angry, then get lenovo'

Great video: 'get angry, then get lenovo'

"Oil dropped from the highest in almost two weeks in New York as investors bet that signs of a slowing global economy indicate fuel demand will falter."

"Oil dropped from the highest in almost two weeks in New York as investors bet that signs of a slowing global economy indicate fuel demand will falter."

Stop CODDLING the Super-rich! By WARREN BUFFETT

"OUR leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched.

While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks. Some of us are investment managers who earn billions from our daily labors but are allowed to classify our income as “carried interest,” thereby getting a bargain 15 percent tax rate. Others own stock index futures for 10 minutes and have 60 percent of their gain taxed at 15 percent, as if they’d been long-term investors.
These and other blessings are showered upon us by legislators in Washington who feel compelled to protect us, much as if we were spotted owls or some other endangered species. It’s nice to have friends in high places.
Last year my federal tax bill — the income tax I paid, as well as payroll taxes paid by me and on my behalf — was $6,938,744. That sounds like a lot of money. But what I paid was only 17.4 percent of my taxable income — and that’s actually a lower percentage than was paid by any of the other 20 people in our office. Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent.
If you make money with money, as some of my super-rich friends do, your percentage may be a bit lower than mine. But if you earn money from a job, your percentage will surely exceed mine — most likely by a lot.
To understand why, you need to examine the sources of government revenue. Last year about 80 percent of these revenues came from personal income taxes and payroll taxes. The mega-rich pay income taxes at a rate of 15 percent on most of their earnings but pay practically nothing in payroll taxes. It’s a different story for the middle class: typically, they fall into the 15 percent and 25 percent income tax brackets, and then are hit with heavy payroll taxes to boot.
Back in the 1980s and 1990s, tax rates for the rich were far higher, and my percentage rate was in the middle of the pack. According to a theory I sometimes hear, I should have thrown a fit and refused to invest because of the elevated tax rates on capital gains and dividends.
I didn’t refuse, nor did others. I have worked with investors for 60 years and I have yet to see anyone — not even when capital gains rates were 39.9 percent in 1976-77 — shy away from a sensible investment because of the tax rate on the potential gain. People invest to make money, and potential taxes have never scared them off. And to those who argue that higher rates hurt job creation, I would note that a net of nearly 40 million jobs were added between 1980 and 2000. You know what’s happened since then: lower tax rates and far lower job creation.
Since 1992, the I.R.S. has compiled data from the returns of the 400 Americans reporting the largest income. In 1992, the top 400 had aggregate taxable income of $16.9 billion and paid federal taxes of 29.2 percent on that sum. In 2008, the aggregate income of the highest 400 had soared to $90.9 billion — a staggering $227.4 million on average — but the rate paid had fallen to 21.5 percent.
The taxes I refer to here include only federal income tax, but you can be sure that any payroll tax for the 400 was inconsequential compared to income. In fact, 88 of the 400 in 2008 reported no wages at all, though every one of them reported capital gains. Some of my brethren may shun work but they all like to invest. (I can relate to that.)
I know well many of the mega-rich and, by and large, they are very decent people. They love America and appreciate the opportunity this country has given them. Many have joined the Giving Pledge, promising to give most of their wealth to philanthropy. Most wouldn’t mind being told to pay more in taxes as well, particularly when so many of their fellow citizens are truly suffering.
Twelve members of Congress will soon take on the crucial job of rearranging our country’s finances. They’ve been instructed to devise a plan that reduces the 10-year deficit by at least $1.5 trillion. It’s vital, however, that they achieve far more than that. Americans are rapidly losing faith in the ability of Congress to deal with our country’s fiscal problems. Only action that is immediate, real and very substantial will prevent that doubt from morphing into hopelessness. That feeling can create its own reality.
Job one for the 12 is to pare down some future promises that even a rich America can’t fulfill. Big money must be saved here. The 12 should then turn to the issue of revenues. I would leave rates for 99.7 percent of taxpayers unchanged and continue the current 2-percentage-point reduction in the employee contribution to the payroll tax. This cut helps the poor and the middle class, who need every break they can get.
But for those making more than $1 million — there were 236,883 such households in 2009 — I would raise rates immediately on taxable income in excess of $1 million, including, of course, dividends and capital gains. And for those who make $10 million or more — there were 8,274 in 2009 — I would suggest an additional increase in rate.
My friends and I have been coddled long enough by a billionaire-friendly Congress. It’s time for our government to get serious about shared sacrifice."

64% Of Americans CAN'T PAY For $1,000 Emergency

64% Of Americans CAN'T PAY For $1,000 Emergency

Sunday, August 14, 2011

Ceiling at 16: California’s Lack of Recovery

Ceiling at 16: California’s Lack of Recovery

"The bigger story however is that, in addition to making a lower low in 2010, California employment never regained the 16 million mark first achieved early last decade. This is yet another way to understand how the American economic system, while still increasing in population, is no longer producing the economic flows required to function normally. That the declining marginal value of government spending would eventually reveal itself is no surprise. Indeed, as had been pointed out on this blog previously, California data warned of a possible new economic downturn in the US as early as December, 2010."

Friday, August 12, 2011

3 American Banks EXPOSED MOST to the European Debt CRISIS

3 American Banks EXPOSED MOST to the European Debt CRISIS

U.S. Consumer Sentiment Falls More Than Expected to 54.9 (LOWEST level since May 1980)

U.S. Consumer Sentiment Falls More Than Expected to 54.9 (LOWEST level since May 1980)

"The Thomson Reuters/University of Michigan preliminary index of consumer sentiment slumped to 54.9 from 63.7 the prior month. The gauge was projected to decline to 62, according to the median forecast in a Bloomberg News survey.
The biggest one-week slump in stocks since 2008 and the downgrade of country’s top credit rating may be exacerbating consumers’ concerns as unemployment hovers above 9 percent and companies are hesitant to hire. Rising pessimism poses a risk household spending will cool further, hindering a recovery that Federal Reserve policy makers said this week was already advancing “considerably slower” than projected."

Thursday, August 11, 2011

Groupon updates IPO filing, ADMITS it's unprofitable

Groupon updates IPO filing, admits it's unprofitable

S&P 500 chart triggers "DEATH CROSS"

S&P 500 chart triggers "death cross"

"NEW YORK (Reuters) - The S&P 500 <.SPX> triggered a key technical signal called a "death cross" on Thursday that could mean more negative moves ahead.

The benchmark's 50-day moving average dipped below its 200-day average in what technical analysts consider a sign that short-term momentum has turned more negative than long-term momentum and could show the current downtrend is pervasive. Both moving averages are currently heading lower."

Tuesday, August 9, 2011

China Russia USA, Lack of Rule of Law?

China Russia USA, Lack of Rule of Law?

"The denial of the rule of law for the few may affect the economic actions of many."