joerobertson.com

Rick Santelli Makes The Zero Hedge Rant List – Again

Joe — Fri, 13 Aug 2010 21:58:58 +0000

This time Rick Santelli points out the lunacy of trying to artificially sustain a bubble that has burst – the housing market.

Check it out and then see an excerpt from an article on Zero Hedge…

And by the way, Rick, whatever you do, don’t, don’t read the following article by Bloomberg: “Manhattan Luxury Condos Try FHA Backing in Sales `Game Changer‘” in which we read that “The Federal Housing Administration agreed in March to insure mortgages for apartments at the 98-unit Gramercy Park development, known as Tempo. That enables buyers to make a down payment of as little as 3.5 percent in a building where apartments range from $820,000 to $3 million.” Yes, ladies and gentlemen, the FHA is now insuring purchases of ultra luxury appartment by the ultra rich, affording what is essentially a no money down “NINJA/subprime-like” creep up into the most expensive properties in the world, entirely on the backs of the US middle class. If that “uber-wealthy” don’t blow up the FHA, and the $7 trillion in GSE debt, nothing will.

From ZeroHedge.com

Judge Napolitano: The Plain Truth – The Government Lies to You!

Joe — Fri, 06 Aug 2010 23:09:09 +0000

A clip from Judge Andrew Napolitano’s Freedom Watch 7/31/2010

What Does Robert Prechter of Elliot Wave See?

Joe — Wed, 07 Jul 2010 17:12:49 +0000

Robert Prechter appears on Puplava’s Financial Sense Newshour June 19, 2010, and gives his view on where we are and where we are headed. He has some interesting observations on the U.S. Governments ability to manage a financial crisis (like the one we are in).

Prechter has had an uncanny record of forecasting big directional changes in the financial markets. He uses the “Elliot Wave Theory”, which identifies and follows certain patterns in the markets.

20 Questions with Robert Prechter: Devaluation Won’t Work
By Elliott Wave International
Jim Puplava: In 1933 at the bottom of the crisis, the Roosevelt administration comes in. In its first week they declare a bank holiday, they reopen the banks with the FDIC, they sever gold, they come in with massive fiscal stimulus and they devalue the dollar substantially. The result was from 1933 to1937 we have positive CPI, economic growth, a robust stock market. If fiscal and monetary measures fail to revive the economy and the market, could the government try devaluation to change the deflationary outcome the way they did 1933?
RP: Well, you have to have a benchmark in order to devalue a currency. Our currency isn’t pegged to anything, so I don’t understand even what the term devaluation would mean. What would they do to do create a devaluation?

Read ALL of Prechter’s candid answers for FREE now. Access the free 20-page report here.

JP: Maybe they come out with a formal saying: the dollar is now worth a half a euro, X amount of yen or it’s a formal statement. They just declare it formally.
RP: Yeah, but everybody already knows what it’s worth, because it’s floating freely against these other currencies. And they certainly couldn’t fix it to a lesser currency like the euro. And then the managers of this other currency would simply make another decree and negate it. That’s not going to work.
Let’s take your example, because it’s very important. The whole idea of the government being ahead of the curve is bogus. You know the collapse was from September 1929 down to July 1932, right? The government did not act until it was over. They waited for the bottom of the collapse—of course—and then they finally decided they’re going to do something about it. So, months after the low in 1932, they finally shut the banks and pass laws such as Glass-Steagall, which created the FDIC, and the Securities and Exchange Act, and that sort of thing, to bring confidence back into the banking system. I think the same thing is going to happen here. They’re going to try the same old stuff, more and more lending, more and more borrowing—which is the problem, not the solution—until everything collapses, and then they’ll go, “Oh maybe we should try something else,” and by that time we’ll already be at the deflationary nadir, and it’ll be time to look for an inflationary outcome.
My whole thesis is exactly along those lines. We want to stay prepared for a deflationary crash, and when it’s over, we’re going to convert whatever money we have to stocks, and raw land, and gold, and whatever else we want to buy. That’s when—if the government makes a political decision to inflate through currency printing—it would make the decision. They’re not going to make it before the bottom. The government has never acted before the bottom, never acted in a new way. Right now these bailouts and other schemes are simply pressing the accelerator harder on what we’ve been doing since 1913.

Editor’s Note: The article you are reading is just one small excerpt from Elliott Wave International’s FREE report, 20 Questions With Deflationist Robert Prechter.

HR 1207 Dead and Fed Gains Power

Joe — Fri, 02 Jul 2010 23:25:20 +0000

Dr. Ron Paul said all along that HR 1207 would not make it through the House. Sure enough, HR 1207 died on the House Floor yesterday (Thursday, July 1, 2010), when the “Audit Provision” was voted out.

Why? In the final hour, 114 Representatives (who had been “cosponsors”) pulled a “benedict beck”, and voted against the provision.

You could ask, “So, why even bother?”

But, look at the awareness that has brought to the issue by Congressman Paul!

BP Gulf Oil Disaster: What Really Happened?

Joe — Mon, 21 Jun 2010 16:38:43 +0000

What’s the truth about the BP Gulf Oil disaster in the Gulf? Hard to say, but you can know one thing, what we get from our government and the MSM is not the full story and possibly complete fabrication.

The latest news is reporting that operators on Deepwater Horizon knew about “issues” weeks before the explosion. Makes a person wonder if the explosion was cover for a disaster that had already occurred. Why sell stocks after the president gives you an endorsement?

Alex Jones weighs in with his view on what is and why (see the video below and supporting links). While watching AJ, keep in mind the timing of dumping stock and POTUS confusing his constituents, going “pro” offshore drilling, all before the “explosion”.

Criminal Investigation of BP Staged Oil Spill Vital to Gulf Recovery
Alex Jones & Aaron Dykes
Infowars.com June 21, 2010
RELATED: States Need To Launch Criminal Investigation Into BP, Federal Government’s Role In Oil Spill
Following the rise of sufficient indicators that BP knew about the conditions of its Gulf oil assets prior to the April 20 leak & explosion– and may have allowed the incident to occur, Alex Jones has called for criminal investigations of key figures at BP, inside the White House administration and elsewhere.
Why did current CEO of BP Tony Hayward dump approximately one-third of his BP stocks before the oil crisis? Why did Goldman Sachs dump a hefty 44% of its BP stock prior to, particularly given that Peter Sutherland was formerly CEO of both BP and Goldman Sachs at the same time? What are the odds that former Vice-President Dick Cheney’s firm Halliburton would purchase a company which “focuses on oil spill prevention and blowout response,” just weeks before the so-called ‘biggest environmental crisis’ of all time would strike?

Elliott Wave for Options Trading?

Joe — Wed, 09 Jun 2010 20:08:24 +0000

Robert Prechter’s Elliott Wave says they can help with your options trading and they just released a free report. It’s only available for a few days and you can get it here -> Instant free download -> $79-value, 42-page ebook.

Drawing from more than 25 years of market experience, instructor Wayne Gorman shows you through real-life market examples how the Wave Principle and Fibonacci techniques will kick your options trading into high gear.

The ebook is designed to help you exploit sharp price movement with powerful vertical spread trading strategies, including: Bull Call Spread, Bear Put Spread, Bear Call Ladder, Bull Put Ladder and more. This valuable ebook belongs in any serious trader’s library.

You will learn:

Which wave patterns provide the highest-confidence options trading opportunity – and which ones do NOT
Which wave position provides you with the optimal market situation
Which time frames work best with each options trading strategy
How to apply Elliott wave rules and guidelines, including Fibonacci ratios
Where and how to set entry, price target and exit levels
How to better determine whether or not to hold the position until expiration
How to achieve the optimum risk/reward ratio by attempting to maximize potential profit and yield, and minimize potential loss.
How to better manage situations that involve uncapped risk
How to fine tune strike prices and expiration dates
And MORE!

Exclusive Offer: Download $79-value Vertical Spreads options trading ebook for free.

Dr. Paul Craig Roberts Talks with Max

Joe — Wed, 09 Jun 2010 13:15:52 +0000

What is the greatest threat to the American people? Terrorism, you say? Dr. Roberts has another answer and you may be surprised while nodding your head in agreement.

Check out th video from Max Keiser’s “On The Edge” which aired on Press.Tv 06–04–10. In this three part video Max Keiser interviews Dr. Craig Paul Roberts who is credited as “the Father of Reaganomics”.

Dr. Roberts has a new book out called How the Economy Was Lost: The War of the Worlds

Also, be sure to watch the 3^rd video which has some pretty provocative information regarding Israel and the U.S. Government.

Part 1 – The Edge w/Max Keiser

Part 2 – The Edge w/Max Keiser

Part 3 – The Edge w/Max Keiser

Gloom & Doom Marc Faber Illuminates at Mises

Joe — Tue, 08 Jun 2010 06:41:11 +0000

This past weekend, a friend of mine was telling me about a recent, hour-long, presentation from Dr. Doom Marc Faber. I found it and posted it here.

Things are getting very interesting and if you go back and look at Marc Faber’s predictions over the years, you will find him to be (unfortunately) on the money. And yes, he was calling it years before “the narcissistic one” (beck).

misesmedia Presented by Marc Faber at “Austrian Economics and the Financial Markets,” the Mises Circle in Manhattan on 22 May 2010 in New York, New York. Includes an introduction by Mises Institute president Douglas E. French.
Dr. Faber’s PowerPoint file is available for download via the following link: http://media.mises.org/mp3/misescircle-ny10/MisesCircle_NewYork_2010_Faber.ppt

The Fed’s Motto: Print Baby Print

Marc Faber: Why Not Restrict the Fed’s Risk Taking