"I come here today to reaffirm one of the oldest and strongest alliances the world has ever known. It has long been said that the United States and the United Kingdom share a special relationship. ... Of course, all relationships have their ups and downs. Admittedly, ours got off on the wrong foot with a small scrape about tea and taxes. There may have also been some hurt feelings when the White House was set on fire during the War of 1812. But fortunately, it's been smooth sailing ever since!"I invite you to watch the entire speech President Obama gave to the British Parliament on Wednesday. To my way of seeing things, it might be the most dangerous speech ever presented by any U.S. president over the course of my fifty years of life.
—U.S. President Obama Address to British Parliament, 5/25/2011
The President's message was clear: the bailout/austerity regime has powerful protagonists on both sides of the Atlantic — albeit Team Fraud marionettes, everyone — who will do whatever it takes to force this insanely ruinous policy upon the globe. As our taller, tanner Herbert Hoover amply demonstrates, no shortage of sophistry can be used to rationalize all that must be done to maintain the appearance of solvency of those several enterprises whose attack on human dignity is as grossly offensive to an ever-widening circle of Americans (as well as world citizens), as it is legendary.
Yet what should we make of this commitment to the bailout/austerity regime? Can anything in Team Fraud's bailiwick really stop the inexorable descent into financial and economic chaos?
No! The cat let out of the bag in the build-out of Adam Smith's Leveraged Ponzi Scheme simply cannot be tamed, no matter how much cat nip is stuffed down its throat.
However, the more relevant question is whether entrenched political interests might act in a fashion serving to alter the global landscape in a manner further solidifying a plainly fascist arrangement imposed over the past forty years under the banners of "globalization" and "free trade."
And the answer is absolutely. Thus, the great danger in President Obama's speech.
Then again, should anything else be expected here? Partners in crime rather might more likely present a public face of loyalty to their shared parts in a still unwinding Ponzi Scheme, whose demise otherwise is assured: this either by hyperinflationary blowout or deflationary collapse. There is no middle ground, since over many decades necessary investment has been purposely stymied.
Furthermore, even chihuahuas bark, and a bankrupt world-view is but a little lap dog in the face of accelerating desperation ... such as, too, H.R. 1489, the demise of the IMF's alleged Jacques the Raper, and UBS reveal about the nature of our present climate. The little lap dog that will not stop barking simply is being kicked aside.
The present moment, technically, bears a striking resemblance to circumstance mid-February and early-April. Thus, my "short equity hedging" suspicion mentioned Wednesday stands.
(No doubt, some call option activity is taking advantage of suckers being brought to the trough for their month-end feeding, too.)
With both relative strength (top panel) and momentum (bottom panel) decidedly shading to the sell side of their respective ranges, further weakness still appears on the horizon. Continuation of the market's descent from its May 1st peak should result in such technical degradation, fourth wave (near ending, having been forming since early-November 2010) versus second wave (having ended late-August 2010), such as has been anticipated and discussed here over recent weeks.
The past two weeks I have shorted you a Friday post. I have the charts I wish to comment on with a message that, of course, will be no less relevant today. Once I have competed my remarks expect a heads up. Let's just say I have been landscaping these past two weekends to cover up for time the world in which we share a mutual interest has been busy going nowhere ... much as was anticipated earlier this month.
Then, on Monday I have a special Memorial Day commemoration that hopes to enlist everyone who believes the pen is mightier than the sword, particularly when applied to the same cause for which many thousands of men and women have died. Such are life and death matters...
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