Financial Endgame Ahead: Six Head And Shoulders Patterns Portend Disaster

In financial speak, a "head and shoulders" pattern is a dangerous chart formation in which a line:

1. Rises to a peak and subsequently declines.
2. Then rises above the former peak and again declines.
3. And finally, rises again, but not to the second peak, and declines once more.

Head and shoulders portend disaster in world markets and leading indicators. And I'm seeing these patterns everywhere:

Obviously, Spain is about to collapse.

But the MSCI World, a stock market index of over 1600 global stocks, is also showing collapse.

The Swiss Market Index, good indicator of the health of the world financial industry, is showing collapse.

 

 

One good thing about economic depressions is that they often depress the price of oil. But this oil index's head and shoulders pattern also portends disaster.

Buried Headlines: June 2, 2012

I'm becoming very concerned about the Eurozone and the prospects of its imminent collapse dragging down the already pummeled U.S. economy. It's summer 2008 all over again.

The End Game: 2012 And 2013 Will Usher In The End

This Summer An 'Eerie Echo' Of Pre-Lehman: World Bank Head

Financial Markets Face A Redux Of The Great Panic Of 2008

Been Saying It All Along: Unemployment Numbers Much Worse Than BLS Reports

ECOMINOES FLASHBACK: Rapid Decline In Vehicle Traffic Contrasts With Government's "Jobs Recovery" Story

ECOMINOES FLASHBACK: The McJobs Recovery

In other news:

U.S. Labels ALL Young Men In Battle Zones As “Militants” … And American Soil Is Now Considered a Battle Zone

Software Screening Rejects Qualified Job Applicants

ECOMINOES FLASHBACK: HR Computers Must Be Smashed!

Buried Headlines: June 1, 2012

I've been saying all along that the Bureau of Lies and Subterfuge's unemployment stats were bogus. But now the jobs numbers have gotten so bad that the BLS can't even fudge to make them look good.

Jobs Slowdown Adds To Global Fears

Jobs Report Postmortem

ECOMINOES FLASHBACK: Rapid Decline In Vehicle Traffic Contrasts With Government's "Jobs Recovery" Story

ECOMINOES FLASHBACK: Lost Earnings Too Much For Recovery

In Obama news:

Obama's Recovery Over? Has It Started Yet?

Obama's EPA Urges More Red Tape

Electric Car Company Given $200 Million By Obama May Not Build In U.S.

In other news:

Bilderberg 2012: Bigger, Badder And Better Than Ever

Spain Scuttles Clean Energy Subsidies; Promptly Watches Industry Fold

FairTax Survey Fabricated?

Neal Boortz quoted on his show today the oft-cited Princeton University survey of foreign executives' opinion of the FairTax. The survey of 500 foreign CEOs, supposedly conducted at the request of Bill Archer (R-TX), former chairman of the Ways and Means Committee, found that 400 said they would build their next manufacturing plant in the U.S. if the FairTax was passed, and the other 100 said they would move their entire operations to America. Such findings would make great talking points for FairTax advocates, if only the survey could be found. No such survey exists on princeton.edu or fairtax.org, and googling "princeton fairtax survey" does not pull up the document. I'm an advocate of the FairTax, but this is odd. Hmmm...

100th ECOMINOES Post: My Favorites So Far

A while back I posted a list of what I determined to be the best ECOMINOES posts so far. In celebration of my 100th post, I present a list of the posts I enjoyed publishing most. Enjoy!

Recovery? We're In A 10+ Year-Old Depression! 
If inflation were calculated the way it used to be (with food and energy prices included in the formula), we've been in near-continuous recession for more than a decade.

Transportation Contract Stuffing Abridged
SC taxpayers spent millions of dollars for no reason but to blemish what should be pristine views of Charleston. 

The American Economic Depression And U.S. Obesity
Hard economic times in the U.S. have significantly contributed to the American obesity epidemic. 

Student Loan Forgiveness: The Necessary Bailout
The federal government should declare long-term unemployed student debt holders legally eligible for bankruptcy and subsidize all uncollectible debt. Yes, I said that.

Rapid Decline In Vehicle Traffic Contrasts With Government's "Jobs Recovery" Story
INRIX reports that US vehicle traffic declined by 30% in 2011. This contrasts greatly with the Government's "jobs recovery" story.

Libertarians And Conservatives: A Call For Unity Against Obama
It is imperative that libertarians and conservatives dispel their animosity toward each other and join forces to fight Obama.

We Are The Lost Economic Generation 
As the years of economic stagnation and exploding national debt pass, the probability of my generation attaining the previous generations' conception of the "American Dream" gets smaller and smaller.

Frank And Dodd Started The Mortgage Crisis, But Not For The Reason You Think
Many conservatives correctly identify Barney Frank and Chris Dodd for the housing crisis and the subsequent financial meltdown. But they continue to erroneously place the majority of blame for the mortgage meltdown on the Community Reinvestment Act. I feel that it's my duty to set the record straight.

Obama The Dictator: A Timeline

The following is a fantastic catalogue of Obama's full-scale war on civil liberties and devotion to crony capitalism from Tom Occupy. All text that follows is his.

FREEDOM EROSION CHART
[updated 5/31/2012]
Bush (and many before him) did their share.
Let's look at what has happened under Obama's reign.

October 2001 - Patriot Act (Bush)
Allows the Federal government to secretly search records and conduct roving wiretaps & raids in pursuit of alleged terrorists or their supporters. DID YOU KNOW: Obama pushed for extension in 2009. Obama signed 4 year extension 5/2011. http://en.wikipedia.org/wiki/Patriot_Act

2007/2008 - Obama campaigning: "The first thing I will do is I will bring our troops home..."

January 2009 - Obama sworn in as President. He swore to uphold the Constitution.

January 2009 - Obama swears in Timothy Geithner as U.S. Secretary of the Treasury. Tim Geithner was President of Federal Reserve Bank from 2003 to 2008. (Ben Bernanke is in that position now).
(1) Geithner engineered the AIG bailout, which cost more than it would take to buy everyone in the United States a $300,000 home.
(2) $185 billion was secretly paid to Goldman Sachs while Geithner was President of the Fed. It got out that Geithner told lawyers to hide that money ($185 billion) was being paid to Goldman Sachs. Getihner did not go to jail.
http://www.opensecrets.org/pres08/contrib.php?cid=N00009638
http://dailyreckoning.com/tim-geithner-covers-for-corruption-on-pennsylvania-avenue/
http://www.youtube.com/watch?feature=player_embedded&v=QXO5bElqnqg#!

May 2009 - Obama appointed Gary Gensler (former Partner and Co-head of Finance at Goldman Sachs) to be chairman of the U.S. Commodity Futures Trading Commission. http://en.wikipedia.org/wiki/Gary_Gensler

July 2009: Obama appoints Michael Taylor (former Monsanto VP) as Senior Advisor to the Commissioner of the FDA. Obama then promotes Michael Taylor to be "Deputy Commissioner for Foods" in January 2010.
http://www.naturalnews.com/034847_Michael_Taylor_Monsanto_FDA.html

August 2009: Obama nominates Ben Bernanke (former CEO of Goldman Sachs) to continue as Chairman of the Federal Reserve. Bernanke was appointed to the Federal Reserve Board of Governors in 2006 by Bush and then a 4-year term as Chairman. http://en.wikipedia.org/wiki/Ben_bernanke

October 2009: Obama appoints Adam Storch (formerly VP of Business Intelligence Group at Goldman Sachs) to be CEO of the SEC Enforcement Division. http://en.wikipedia.org/wiki/Adam_Storch

2010 - Afghanistan - Obama promised troop withdrawal "by July 2011."
http://www.youtube.com/watch?v=SYl6NKrmIfQ

January 2011 - Food Safety & Modernization Act (HR 2751) - Obama signed into law.
http://www.urbanfarmhub.org/2010/05/food-safety-modernization-act-the-end-of-homegrown-produce/

March 2011 - Libya - Obama orders attack on Libya without Congressional approval (under the Constitution that Obama swore oath on, this is illegal). http://www.guardian.co.uk/world/2011/mar/22/libyan-conflict-unconstitutional-obama-warned

October 2011 - ACTA (multinational version of SOPA) - Internet Censorship
Obama signed 10/2011, characterizing it as a "executive agreement" and thus bypassing Congressional approval.
Some big players, including RIAA, MPAA, and Pharmaceutical Research and Mfgrs of America helped develop the treaty. Note: By April of 2009 Obama appointed 5 RIAA lawyers to the Justice Department.
http://www.forbes.com/sites/erikkain/2012/01/23/if-you-thought-sopa-was-bad-just-wait-until-you-meet-acta/

January 2012 - NDAA - Indefinite Detention of US Citizens (in USA or abroad) without Right to Trial
Obama signed 1/2012 "with serious reservations" and promises to not use the powers conveyed.
http://www.forbes.com/sites/erikkain/2012/01/02/president-obama-signed-the-national-defense-authorization-act-now-what/
http://youtu.be/y7XzdW25Rno

January 2012 - Dept of Homeland Security (DHS) orders 2,717 Mine Resistant Vehicles
http://www.democraticunderground.com/1002565995

March 2012 - NDRP - National Defense Resources Preparedness
In the name of national defense, our government can take control of private sector resources without consent of the owner. Keep in mind this is a refresh of old Martial Law BUT now "in peacetime" and "in non-emergency" are part of the law. In other words, our President can now at any time assume the powers of Martial Law. Obama - Executive Order - 3/16/2012
http://www.whitehouse.gov/the-press-office/2012/03/16/executive-order-national-defense-resources-preparedness  

Buried Headlines: May 31, 2012

Will student debt be the next bubble to burst?

Student Loans Soar 275% Over The Past Decade

Student Debt Bubble Delinquencies Surge

ECOMINOES FLASHBACK: Return On Investment Of Higher Education In Two Simple Charts

ECOMINOES FLASHBACK: Student Loan Forgiveness: The Necessary Bailout

In other news:

Drugmakers Vowed To Campaign For Health Law, Memos Show

ECOMINOES FLASHBACK: Big Pharma Got To Obama On Obamacare, His Marijuana Pledge Went To Pot 

Chinatown Bus Companies Shut Down In Federal Safety Sweep

Timah Geithner Tells Spain Solution Needed For Troubled Banks

Time Bomb? Banks Pressured To Buy Government Debt

Buried Headlines: May 30, 2012

While race baiting yesterday Attorney General Eric "fast and furious" Holder told a group of black church leaders that the "sacred right" to vote is under assault. Sorry to break it to you, Mr. Attorney General, but voting isn't a right in this country. It's a privilege.

Attorney General Eric Holder Doesn't Know That Voting Is A PRIVILEGE

In other news:

Sign of the Times: 20K Apply For Less Than 1K Auto Jobs

Side Effect Of Money Printing: US 10-Year Treasury Yield Hits Record Low of 1.63%

What Does Gold Know That Stocks Don't?

Greece's National Bank Posts Q1 Loss As Recession Bites

Scramble For Safety As Spain Fears Grow

Suspended GSA Executive Back On The Job

Shocking: Mass. Woman Finds Baby Bird With 2 Heads, 3 Beaks

Emasculate Us Some More, Uncle Sam!

A while back I detailed the disproportional impact this economic depression has had on American males. Today the Washington Post's Peter Whoriskey affirmed my grim account. From Mr. Whoriskey:

The falloff has been sharpest for men, for whom the proportion had been on a slow decline before the recession. The percentage of prime-age men who are working is smaller now than it has been in any time before the recession, going all the way back to 1948, according to federal statistics.

The only reason why the percentage of American women in the workforce isn't at all-time lows is because women didn't enter the workforce en masse until the 1970's. Prior to the 1970's, it was possible to raise a family with a single income (typically, the male's). But then the Government, in its infinite wisdom, decoupled gold from the dollar. And so inflation killed off the American housewife.

And then the government, in its infinite wisdom, forced Fannie and Freddie to relax their mortgage purchasing standards. And so the economy crashed. And now the American male breadwinner is in danger. These days, many former male breadwinners have been forced out of their careers and are working McJobs. But Uncle Sam is even threatening former male breadwinners' prospects for menial employment.

Buried Headlines: May 29, 2012

While I'm on this drug article kick, I'll lead with this story. Social conservatives take note: If real drugs were legal, the Government would rake in tens of billions in annual revenue, save tens of billions annually on enforcement, and people wouldn't be doing these dangerous artificial ones.

Under The Influence: NJ Man Stabbed Himself, Threw His Skin And Intestines At Officers

In other news:

Economic (Not Social) Conservatives Outnumber Economic Liberals 46% to 20%

Obama's Fiscal Blowout That Never Happened, According To Obama

New Study From UK Think Tank Shows How Big Government Undermines Prosperity

Biggest Greek Bank Warns Of Dire Euro Exit Fallout

There Is A God: Zuckerberg Drops Off Billionaires Index As Facebook Extends Fall

"Value Added": 40% Of Social Media Account Are Spammers

Gibbs: Romney Is No ‘Economic Savior’

Housing Recovery - Hope And Reality

Stupid Media Get Their Facts Wrong Regarding Miami Cannibal

Drugs have been the topics of my last two articles, so I might as well go ahead and make it a trifecta. The latest on the cannibal story from Miami is that the perpetrator was under the influence of the common stimulant known as "bath salts". Not surprisingly, the lamestream media got their facts wrong when describing the drug: The CBSMiami report indicated that bath salts are "the new LSD". No, stupid media, LSD is a hallucinogen. Baths salts are a stimulant.

"Bath Salts", from Abovetheinfluence.com:

A synthetic, stimulant powder product that contains amphetamine-like chemicals, including mephedrone, which may have a high risk for overdose. Because the drug is new and some of the contents unknown, using it in any way is highly dangerous.

"LSD", from  Abovetheinfluence.com:

Buried Headlines: May 28, 2012

The Government's hypocrisy regarding drug policy is unbelievable. The fact that Americans have tolerated a century of prohibition and nearly a half-century of the War on Drugs makes me question this country's dedication to "life, liberty, and the pursuit of happiness". But, I suppose that as long as there's an iPad on every lap and a reality show on every TV, the sheeple will literally allow the Government to get away with murder. Happy Memorial Day. I hope that those who gave their lives for this burning empire aren't rolling in their graves.

Top Officials Admit That U.S. Government Has Repeatedly Protected Drug Smugglers

ECOMINOES FLASHBACK: Big Pharma Got To Obama On Obamacare, His Marijuana Pledge Went To Pot

In other news:

Tax Dollars At Play: NOAA Audit Finds $43.8 million In Unauthorized Bonuses

We Came To "Help": Huge Rise In Birth Defects In Falluja

We Meant Well: How I Helped Lose the Battle for the Hearts and Minds of the Iraqi People

Barney Frank Tells Black Degree Recipient He Hopes "No One Will Shoot At You" For Wearing A "Hoodie"

Facebook Slide Continues Even As US Market Closed

Revealed: Hundreds Of Words To Avoid Using Online If You Don't Want The Government Spying On You

Big Pharma Got To Obama On Obamacare, His Marijuana Pledge Went To Pot

In his recent book, biographer David Maraniss classified the young Barack Obama (or whatever he called himself at the time) as quite the pot smoker. I don't doubt Mr. Maraniss's testimony (Obama admitted as much in “Dreams of My Father”), and, as a libertarian who views the War on Drugs through the prism of economics and individual liberty, I cannot fault the future president for partaking as a young man. I will, however, hammer Mr. Obama for the apparent reason behind his reversal on marijuana policy: The ambitious rookie president, seeking to "fundamentally transform" the American healthcare system in his nascent presidency, allegedly made a secret deal with PhRMA, a powerful lobby group that represents the drug and biotechnology industries and strongly discourages marijuana use, in exchange for favorable Obamacare terms. According to NaturalNews.com:

The bipartisan Congressional committee currently investigating the secret dealings between the Obama administration and Big Pharma prior to the passage of the massive health care overhaul is set to release pertinent new details as to what these dealings entailed. In a recent memorandum, the committee unveils the names of some of the key figures involved with these secret negotiations, and promises to release even more shocking details in the coming weeks.

Addressed specifically to the Republican members of the Energy and Commerce Committee, the memo explains a little bit more about how the Pharmaceutical Manufacturers of America (PhRMA), a powerful lobbying group that represents the drug and biotechnology industries, colluded with the federal government to make the terms of Obamacare as favorable to drug companies as possible. Both the federal government and PhRMA secretly agreed to abide by certain undisclosed commitments to one another as part of the passage of the bill, the details of which largely remain hidden from public view.

"In the coming weeks the Committee intends to show what the White House agreed to do as part of its deal with the pharmaceutical industry and how the full details of this agreement were kept from both the public and the House of Representatives," wrote members of the House Energy and Commerce Subcommittee on Oversight and Investigations in their memo.

Buried Headlines: May 27, 2012

Charleston is staring at a tropical storm, but the show must go on. The following story isn't news, but it's interesting and apropos given the current weather in ecominoesland.

Air Traffic Delays Cost U.S. Economy More Than Hurricanes

In other news:

Google Spies: Company Deliberately Stole Information But Executives 'Covered It Up' For Years

The Ultimate In Central Planning: House To Examine Plan For UN To Regulate Internet

If Greece Was California...

ECOMINOES FLASHBACK: California: The GDP, Budgetary Woes, And Resistance To Austerity Of A PIIGS Nation

Washington’s Human Rights Hypocrisies

Obama Facing His Jimmy Carter Moment