05/08/2012 Live Update

[SWalsh]

For those who believe in market manipulation by the banks, here's an article for ya:

Bank of Japan buys record amount of stock ETFs But purchases fail to prevent heavy market drop

I'm 2/3rd through "End Game: The End of Debt".

We are a breath away from a deflationary depression. What the event might be that causes all this central bank nonsense to be believed as working is unknown. But it out there. As the book states, in late 2010, "We Are All Greeks"

Japan is entering its 3rd decade of decline. We are trying to wipe it out by stealing from the middle class by raising property taxes and offering zero interest rates. But we can;t do it fast enough as the debt is too big.

We are at these absurd levels because people are out of the mkt and the banks, who are broke still and would likely all fail any stress test and we know that as the government had to come out and state they could all pass a situation like the Great Depression, because the computers believe there will always be Fed intervention. Well that Japan article says sometimes it just stops working. And Reinhardt and Rogoff showed in over 250 financial collapses that when it happens it is usually as fast as in 2008 that banking desks don't pick-up the phone calls from other banks that call to try to peddle their junk.

NEWSFLASH to Benny and the Ink jests: "It's the velocity of money, STUPID", and they can't do a thing to that by printing money.

Thanks for the article