Another great article by Mike Shedlock - congress sets up another 4 trillion bank giveaway

http://globaleconomicanalysis.blogspot.com/2009/12/congressional-legislation-introduced-by.html

So once passed, the Stock Market can be safely 'imploded' again, right?

Look out below....

Autumn of the Republic?

http://www.truthout.org/1227091

The most recent 50 visitors, where are they from?

If I wanted to pay for the privilege, I can plot the most recent 1000, which makes a denser map, but this is O.K., kind of fun....Some big cities have more than one of my readers represented here...On slow days I sometimes check this a few times a day and watch the patterns change.....

I saw the film 'AVATAR' last night...dazzling...must see...

I highly recommend this film. The special effects are amazing, but the story is very appropriate, speaking to the issues of Empire, and the effect it has on people both within it and outside of it. I don't want to give you a dry review, and I will say to you, it will tug at your soul in a very unique way. You must see this...you owe it to yourself...

Market Surprise for 2010?

http://www.howestreet.com/articles/index.php?article_id=11976

Everything that can be said about the truth....

http://www.financialsense.com/stormwatch/geo/pastanalysis/2009/1218.html

The coming fierce political infighting among Elites...

Note that the author lays the groundwork for this conclusion in the unavoidable decline in tax revenues one would expect when you bring on a whole slew of new taxes in the midst of an economic decline. This is already what we're seeing in discussions occurring from the national level, to the state and city/county levels. With tax levels falling, from both voluntary and involuntary withdrawal of players from an out of control, unfair economic/political system, the Elites and other 'protected' groups begin to 'go after' and cannibalize each other's revenue streams....

http://www.oftwominds.com/blogdec09/2010trends12-09.html

John Williams explains the risk of hyperinflation.

http://www.fairfieldweekly.com/article.cfm?aid=16014

More detailed market discussion...

http://www.thebullbear.com/profiles/blogs/a-couple-of-exponential-nodes

Debt clock ...

Forwarded to me by Bill Stockwell...very neat...

His comments:

Amounts are continually updated.
When you first look at the website, it is rather overwhelming,
but as you scroll across the screen, many of the numbers
represented there are referenced in the investment and news articles.

http://www.usdebtclock.org/

It's amazing how sanguine we've become about how these numbers are rolling up and increasing....

A couple of nodes overlapping on Monday, the 28th of December...

Looking at the bottom chart we have a set of overlapping nodes ( a .5000 and a 1.000) on December 28th relative to the A-B-C patterns I have labeled. This is only occurring on the $NDX, nothing similar is happening on the $SPX. The $NDX chart (the one in the middle), though is more interesting anyway, as it looks like that index is attempting a breakout through the trendline that has contained it. Where it stands at the moment, it has not yet achieved a confirmed breakout, as that happens only after a little more penetration then what's shown here. So the stage is possibly set for a resolution of the question of what's happening next. If the market doesn't reverse on Monday or perhaps Tuesday, we're probably going quite a bit higher for sure, but if it does reverse, then the existing trendline and the combined .5000 and 1.000 nodes would presumably been active, and the Bearish case will come to the fore. Remember also that the $SPX has been, and is still under, a Bearish warning state for quite a while now...Now we wait and see how it resolves....

Bankruptcy and Fiscal Collapse,Global Economic Crisis Tipping Point Forecast for Spring 2010

http://www.marketoracle.co.uk/Article15931.html

While You Were Sleeping… The Economy Collapsed

http://neithercorp.us/npress/?p=209

Hitting the roof again...

The $NDX is still bouncing along the underside of this light green ascending trendline...

The Most Dangerous Thoughts ever produced by Man....

http://video.google.com/videoplay?docid=-5122859998068380459#

What kind of intellectual quest could drive four of the greatest thinkers of the last 100 years (in mathematics and philosophy) to obsession, then madness, and then finally premature death (suicide)? What does the consequences of their quest, tell us about mathematics, logic, certainty, and what it means to be a human being?


Extraordinary documentary by the BBC....

The Fed Slipped Up Big Time: Deflation Coming

http://yelnick.typepad.com/yelnick/2009/12/the-fed-slipped-up-big-time-deflation-coming.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+PlanetYelnick+%28Planet+Yelnick%29

A site that shows a different side to the Global Warming debate..

http://www.epw.senate.gov/public/index.cfm?FuseAction=Minority.Blogs&ContentRecord_id=10fe77b0-802a-23ad-4df1-fc38ed4f85e3

Markets going sideways....

Martin Weiss points out that tax considerations might keep sellers on the sidelines until after Jan. 1

Discover Card Survey: Christmas Spending to Fall 15%

http://www.nakedcapitalism.com/2009/12/discover-card-survey-christmas-spending-to-fall-15.html

Mish Shedlock reports:

Cap-and-Trade Carbon Credit Extortion Scam In Full Swing

Missouri Billboard Warns Washington: Prepare for War

http://gatewaypundit.firstthings.com/2009/12/missouri-billboard-warns-washington-prepare-for-war/

$SPX and $NDX Macro Trendlines.

The $NDX chart at the top shows the current price action 'skewered' like a shish-ka-bob on one of the trendlines (dark green, upsloping)...it's really the microtrendlines I have been showing in previous posts that seems to be controlling the upside on this index. The $SPX, on the other hand, is topside limited by it's 'macro', longer time derived trendlines, and you can see it's still reasonably close to one of it's .500 nodes (center image). We're still under a 'Bearish warning' condition, and all the more so with the dollar strengthening...

US OPENLY ACCEPTS BIN LADEN LONG DEAD

http://www.veteranstoday.com/modules.php?name=News&file=article&sid=9641

Question: How do you know when our 'leaders' are lying?

Answer: When their lips are moving.

It's looking more and more like the bottom is in on the dollar...

Expect many implosions now through the first quarter of 2010.

Macro trendlines will be shown tomorrow....

A small bounce yesterday off of the lower trendline of the $SPX...

Which takes the $NDX up back up to it's over-head trendline...Monotonous...Boring... We need the dollar rally to get legs, so we can break this endless pattern...

Dollar rally continues...markets weaken...

Notice that on the Microtrendlines chart, the $NDX did manage to strike the trendline (barely), but has formed a small double top...

A time to be alert...If the dollar rally gets real legs, the markets will crumble...

I've been anticipating this for about 3 months, but we still need verification....all eyes on the dollar...


I've added the $SPX Microtrendlines chart and show it's current decline, just starting, has already about hit the supporting trendline. So we are at an interesting juncture, the $NDX has strong resistance overhead, and the $SPX has strong support just beneath. I doubt these two markets will diverge sharply, or for very long, so the next few days may end the gridlock as one index, or the other, has to break through it's current controlling trendline. Since complacency is fairly high, and risk tolerance is waning, I still vote for 'down' as the direction this will go....

Tea Party tops GOP on Three-Way Generic Ballot

http://www.rasmussenreports.com/public_content/politics/general_politics/december_2009/tea_party_tops_gop_on_three_way_generic_ballot

Suggests that a sea change in public opinion is under way, and that Republicans may benefit only marginally from Obama's poor performance. I would guess that some Democrats will eventually be disenchanted with Obama as the recovery devolves into another crisis. It's not clear that 'ideologically' they will join the independents and conservatives, however...

A little negative divergence starting to show up...

But no point in getting excited...yet..Many commentators are becoming whipsawed trying to divine some sense out of the dollar's one day wonder on Friday, and the hard core Elliott Wavers are trying to interpret every little squiggle in the indexes, of which there have been many over the past three months, with very little resolution as to trend. This is very much a waiting game now, there are some divergences, we'll just have to see how they play out.

Updated $NDX microtrendlines.

Still showing what looks to me like potential weakness as trendline is approached...

Ben Bernanke’s Hyperinflation And Economic Collapse

http://usawatchdog.com/ben-bernanke%E2%80%99s-hyperinflation-and-economic-collapse/

Today's down day was interesting...

But what we'll look for is whether we have follow through tomorrow...notice that unlike the previous hits of the green trendline, this failure of the $NDX was a lighter strike. Weakness?

Macro $SPX charts

The $SPX is still contained by at least one trendline (light brown) although it should be noted that this is a rising trendline...which is why the market has been able to churn slightly higher. Reversals can still take place off of rising trendlines though. The current node value is .51693, still not too far from a perfect .50000. Since .51693/.50000 = 1.03386, we are then 3.386% away from ideal, still not badly off. We are not out of range of this node generally until we have reached about .53000 or so....

The bankruptcy of the United States is now certain

http://www.thedailycrux.com/content/3455/Porter_Stansberry

Excerpt:

When governments go bankrupt it's called "a default." Currency speculators figured out how to accurately predict when a country would default. Two well-known economists - Alan Greenspan and Pablo Guidotti - published the secret formula in a 1999 academic paper. That's why the formula is called the Greenspan-Guidotti rule. The rule states: To avoid a default, countries should maintain hard currency reserves equal to at least 100% of their short-term foreign debt maturities. The world's largest money management firm, PIMCO, explains the rule this way: "The minimum benchmark of reserves equal to at least 100% of short-term external debt is known as the Greenspan-Guidotti rule. Greenspan-Guidotti is perhaps the single concept of reserve adequacy that has the most adherents and empirical support."

So how does America rank on the Greenspan-Guidotti scale? It's a guaranteed default.

Goldman Staff Packing Pistols to Defend Against Peasants

http://www.nakedcapitalism.com/2009/12/goldman-senior-staff-packing-pistols-to-defend-against-peasants.html

$SPX and $NDX microtrendlines...