That rally going into the close of markets on Monday isn’t to be mistaken for optimism. It was a mere technical bounce since the market is waiting on hard news events although there are plenty of rumors going around. One is that Pimco and JPMorgan are holding off some vacations because of fears that’s we could be into collapse any old time. Want to have key folks on hand? Maybe…we should find out around June 18-20 which isn’t that long to wait.
In the meantime, Europe was bouncing a bit earlier as France is looking to kiss the underside (can I say that?) of the 3,000 handle on the CAC40 while the British are still celebrating with another day off to mark the queen’s jubilee.
The problem with Europe’s pending collapse is that instead of being a tight coherent 45-minute deal (like a good TV show after whacking commercials out) has taken on all the airs of a perpetual mini-series. And this is oh, so dragging at this point.
The pinstripe piranha crowd is presently gathered around the idea that Greek could go off and have their own currency, but still hold some convertibility to the Euro, but obviously this is just a bankster-class wet dream not to be stiffed on debt. Say it ain’t so. At the Greek’s so beat-down as to jump as a loosening of the choke collar? Don’t think so, but regardless, if the dual currency scam is blown up in enough headlines, maybe it will entice some of the hot money out of flight to safety markets like the US, which will cause us to go where? Down, and I’ve sort of penciled in 11,300 in the Dow, but more on how we get there tomorrow for subscribers to Peoplenomics.com.
The main feature this morning ought to be Factory orders in an hour, and those I’d expect to see coming in under forecasts since the consumer spending of late has been on education to get a job, not on disposable high profit doo-dads, which is why a miss on manufacturing would not be a surprise to me or Zeus the Cat, my editor.
NYC’s Doobie Do
Are Mario Cuomo and Mayor Mike the new doobies? Hizzoner – whose stop and frisk policy has resulted in something of an overload of arrests – is now thinking about discretion when pondering proper pot puffer procedures. Since any such “discretion” is readily abused, we’d label it a half-baked attempt at revising pot laws while still serving the booze industry.
History seems to hint that lawmakers don’t serve more than one master very well, which is why the US Fed policy doesn’t mention anything about maintaining purchasing power of money, or ugly little details like that and goes off into smokey thinking.
How Far and the Idiocracy Go Dept?
In New Jersey, our armed occupying forces are now authorized to issue tickets to people who have “unrestrained pets” in their cars. Holy crap! I can’t make this stuff up. Didn’t find any doggy seats or kitty seats on Amazon, but you know it’s on the way.
But wait! Suppose you live in, oh, Teeterboro, NJ for example. You can now truss up the family pooch and drive (ticket-free) to NYC, light up a doobie about Washington Heights and not be arrested – maybe. Perhaps then in a half-baked haze (with poochie yeowling in his seat) this all makes sense to N.E. liberals but there’s way too much fresh air in the East Texas Outback to follow what’s going on up thataway. Truss the pooch, trust the cops? Oh boy….ViseGrips?
Take the Transit
No, not talking the MTA in Chicago, or the subway in NYC, nossir. We’re talking about the transit of Venus and no, they don’t have no monthly pass program for po’ folks…
Even this (complete with the live webcast from NASA) may be viewed with some suspicion in conspiracy circles. I’m sure we’ll hear things like “It’s all a plot to get us programmed to believe things are LOOKING UP….”
Life in the Police State III
Isn’t Aurora Colorado where all the cars in town suddenly started running at idle only a couple of years back in what was thought at the time to be thought a test of controlling the public’s ability to move around?
Well, today’s little adventure up that was involves handcuffing every adult at an intersection where they had no idea WTF they were looking for. So what’s a police-state cop to do? Bottle up 19 cars and handcuff everyone. Illegal search? Maybe, but they did get the suspect – in the very last car according to the report here.
Or did they? Is it possible that after an hour to hour and a half long ‘effing with citizens lives they had to haul off someone? Be interesting to follow this…
In the latest scam to create a false sense of security – but make being a cop a lot more fun – 18-thousand police departments are going to be offered UAVs to spy on Americans with no warrants, and over private property…
Not to be left out, the US Air Force already has plans to work with local cops reports KNX in Los Angeles, and they provide rhyme and verse of how it should work in documents here. Particularly worrisome? The plan to “…purge or transfer….” incidental data. Oh? To whom and for what?
Remember the old saying around here: If you aren’t paranoid, you don’t have a clue what’s going on…
That Rising Quake Problem
Speaking of things looking a bit shaky: We had, despite forecasts for something bigger, only a 6.7 magnitude quake in May. Of course, the previous month was active, and the chart, since 1973 now looks like this, reports our database slicing & dicing expert….
Is this just a trick of the trend line, a real legit worry? Or, could it be due to something non-obvious, like global heating due to the periodicity of sunspot cycles and solar output which isn’t constant?
I have a new Grand Theory of Absurd Proportions that Holds Water (GTAPHW) that I arrived at when considering the latest on the master data-slicers site where he’s all worked up over the BRIC countries which are looking at an “other-than-dollar” currency.
My absurd theory is that the increase in earthquakes is proportionate to the growth of debt and paper/abstraction financial instruments which have grown so much as to be causing undue weights in certain financial centers thus causing an increase in quakes.
Later today, I will call my dentist too, to see if he can do something about my tongue which seems glued to inside of my right cheek this morning….
How Smart Are People?
Not very. Need proof? “Crowds Cheer Queen on Last Day of Jubilee” says this report. A country which made its dissenters stand on soap boxes and believes (even if to some measure) in divine rights of royalty can’t be too smart, I reckon. We had to bail them out of not one but two world wars, if I remember.
Gets me to thinking about something, though: The world would be better off without inheritance of any kind, I’m coming to think. In such a world, rulers would not be able to pass on whole countries (North Korea comes to mind) – let alone empires – and it would go a damn good distance toward eliminating the global aristocracy and would promote training kids better if inheritance was ended worldwide.
Plus, as a bonus, us 60-somethings would spend a lot more and be in a much more party-like mood if we weren’t thinking about what we could pass on to give our kids some footing against the aristocrats.
Oh well…easier for the UN to deal with the superficial rather than the roots of resistance to genuine human progress. But maybe I’m just bitter because my mom and dad didn’t leave us kids a country, though Pappy’s side was bright enough to be Scottish and get out when they could.
Don’t get me wrong, I like the British people. The bright ones, anyway.
More after this…