I have it memorized

May 28, 2012

Four score and seven years ago our fathers brought forth on this continent, a new nation, conceived in Liberty, and dedicated to the proposition that all men are created equal.

Now we are engaged in a great civil war, testing whether that nation, or any nation so conceived and so dedicated, can long endure. We are met on a great battle-field of that war. We have come to dedicate a portion of that field, as a final resting place for those who here gave their lives that that nation might live. It is altogether fitting and proper that we should do this.

But, in a larger sense, we can not dedicate — we can not consecrate — we can not hallow — this ground. The brave men, living and dead, who struggled here, have consecrated it, far above our poor power to add or detract.

The world will little note, nor long remember what we say here, but it can never forget what they did here. It is for us the living, rather, to be dedicated here to the unfinished work which they who fought here have thus far so nobly advanced.

It is rather for us to be here dedicated to the great task remaining before us — that from these honored dead we take increased devotion to that cause for which they gave the last full measure of devotion — that we here highly resolve that these dead shall not have died in vain — that this nation, under God, shall have a new birth of freedom — and that government of the people, by the people, for the people, shall not perish from the earth.

Abraham Lincoln – Gettysburg Address


The Intellgence Racket

May 26, 2012

Chronology

May 26, 2012

Every time is a great time to buy Real Estate!

U.S. Housing Market May Bottom in 2009, Zandi Says

Case Shiller Futures Suggest 2010 US Housing Market Bottom

U.S. housing bottom seen in mid-2011

Barron’s Calls For A Bottom In Housing…AGAIN

Pimco’s Simon Sees Housing Bottom in 2013

Housing Market to Bottom in 2014

RealtyTrac’s Sharga sees no housing recovery before 2015

Keep ’em churning!


Penn Jillette on a lying sack of shit

May 22, 2012

Hmmm…

May 22, 2012

U.S. Treasury Allows China To Hide Bond Purchase Details

China has been given a direct line to the Treasury, the only country ever allowed the privilege, so that it may purchase (or not purchase) bonds without American banks being privy to the details of their transactions. This is yet another revealing sign that China, because of its detrimental control over the fate of our currency, has been given free reign to roam about our markets and our infrastructure at will. China is being given special treatment for one reason; they are being handed the
keys to our economic castle as payment for the coming devaluation of the dollar based securities they will still be holding when the Fed announces QE3. It is no coincidence that so many gifts have been handed to the Chinese in the past year alone.

[ Story ]

In 2009, when Treasury officials found China was using special deals with primary dealers to conceal its U.S. debt purchases, the Treasury changed a rule to outlaw those deals, Reuters reported last June.

Oh I seeee, it’s a work-around. Evasion by any other name is still…

Cui bono? Is it even legal (I know, when has the government ever obeyed the law)? Does this open up the T market to manipulation? I suppose if they promised never to do that, we’re good. Money good.

It is similar to one drug addict allowing another access to their private stash. Will it be there tomorrow?

It is customary for favored customers get special privileges. Just last week came this related (although neither story acknowledges the other) news:

Giant banks owned by the Chinese government are coming to the U.S.

The Federal Reserve on Wednesday approved plans by three state-backed Chinese banks to expand in the U.S., including the first acquisition of a U.S. retail-banking network by a state-owned Chinese lender.

[ WSJ ]

Not one, not two, but three Chinese banks. A quantity discount? Way to save there, guys.

No film at 11.

What is that fishy smell?


Words of encouragement

May 5, 2012