I decided to split off my postings of economic links from Jim's Thoughts, so that I can get that topic back to what it was intended to be, a place for me to post trading ideas and thoughts I had that I felt could be of interest to the readers.

This topic is where I will post links to various economic articles, for those that find them interesting. If you want to read (or post) articles about the unfolding debaucle, this is the place to look. If you are a short-term daytrader or swing trader and have zero interest in the economy, you can now just read Jim's Thoughts and not have to wade through this type of dicussion.

At best I think this material only has a direct effect on longer-term plays, the bigger swings that make up the major legs of the bull and bear markets. I follow this stuff for that reason, and because I want to have a handle on things, if that is even possible in this era of lies and deception, so that I can make decisions on life issues.

For example, as I posted in the commentary on the website and discussed with many people well in advance, this was something that wasn't hard to see coming. I saw many people who told me as late as Oct 2007 that 'this thing is about to 'break out' to the upside, and that Dow 20,000, and then much higher, was 'just around the corner' '. The type of articles I am posting discuss the type of information that helped me form the viewpoints I had back then.

If this is far from over, as I suspect, we are in a similar postion now as back then. With the rally that is unfolding right now the talk is the bull is back, the bottom is in, and we are set. I'm not so sure. So, I try to weigh up all the factors and not get too sucked in by the hype. To that end, I will post things here I find interesting.

And now today, this spectacular bank plan, which, as I read over, I truly think I must have taken a few hits of acid, because that seems to be the only explanation for what I am seeing...

http://finance.yahoo.com/news/Toxic-asset-purchase-program-apf-14712027.html

"It's the end of the world, as we know it..." except that I don't feel fine...

quote:

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Originally posted by jimkane

"It's the end of the world, as we know it..." except that I don't feel fine...

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somehow I stopped caring...

And here's a thought. Keep in mind, all the info I have to go on is the little tidbits I hear on the news. The FDIC just said something like they will be out of money soon, and will need some from the gov if they don't raise fees. There is one bank I am following that I can't understand how it could possibly not be closed. I finally figured out, because it is fairly big, they simply can't afford to close it. That's my opinion, anyway. I see all these banks staying open, and I realized they are waiting for the 'program'. Now I hear IndyMac is suing, big bucks, in regards to their closure. Point? Look at the 'new role' of the FDIC and the risk they will now be assuming (from the last article). I no longer have confidence they will be able to protect my money. The times, they are a changing.

Here's some links to check out if you want to see why I am so worried, as expressed in the Jim's Thoughts section:

http://www.businessinsider.com/henry-blodget

Start with the earliest articles from today, the 23rd, or wherever you want. Also look off to the right and read any relevant articles from other authors.

And here's what got me over to that site, which I have seen in the past, but didn't keep up with.

http://finance.yahoo.com/tech-ticker/article/216311/Part-I-Geithner's-Plan-%22Extremely-Dangerous%22-Economist-Galbraith-Says?tickers=%5Egspc,%5Edji,c,bac,jpm,WFC

So, I see that they are now talking about the Fed issuing debt? Unreal.

http://www.marketwatch.com/news/story/Rally-convinces-some-not-all/story.aspx?guid=%7B7778E1E7%2D7376%2D4C0A%2D94E0%2D934873370A97%7D

Read the first half about market manipulation. I'm convinced this is now 100% tax dollars buying this. It makes no differences from a trading standpoint, only the setups matter, but I just can't believe it could be any other way. Essentially everyone is now saying this is definitely a new bull market. Everyone, from Cramer to Carl Futia (he just declared it officially a new bull, not a bear market rally) says it's a bull, and they all nailed it to the day and the point of the low. Good job. It's never been done in history, but there's a first time for everything. And I guess with enough money, say a trillion or two, which has never been tried before, one perhaps can engineer a bull market. For example, if they kept buying until it was at new all-time highs, then it was a new bull, even if the only buyers were the gov the entire way. It's just so messed up...

http://www.marketwatch.com/news/story/Worst-quarter-economy-since-1930s/story.aspx?guid=%7B564B8982%2DACE7%2D464C%2D914E%2D24C37B5C1B21%7D

Phew! I'm glad the economy has finally turned the corner and the recession is just about over (the market is forward thinking and this new bull market is now pricing in the recovery that is imminent). Amazing, we are going from what that article says to full recovery in a few months, all because the gov is printing a lot of money. I'm sure glad we have those guys and gals looking out for us.

I hope everyone is enjoying my biting wit and sarcasm :-)

I can't tell, because as M said, this forum is dead. I'm pretty sure I'm the only one left in here... Maybe that's a good sign?

I forgot, I do have another hero to go with Ron Paul and David Stockman, and that's Nigel Farage. Here's his latest:

http://www.zerohedge.com/news/2013-04-17/farage-unleashed-you-are-common-criminals