Questionable is whether these corrupt clowns understand the consequence of their betrayal submitting to failed austerity dictates, as otherwise was fairly obscured today by not surprisingly quiescent outlets for the asset stripping, fee junkie crowd.
How can these people be blind to misery meted on the euro-zone's periphery as a consequence of brutal austerity ruthlessly imposed while hopelessly insolvent banks stuffed to the gills with worthless derivatives are given free pass after free pass, all while remaining no less bankrupt? This is proving nothing but intolerable. So what does Team Fraud do for an encore? They give Italy a color revolution, albeit translucent, promoting the politics of chaos and calling it "People Power." Ron Paul's hippie brother, Beppe, has captured the Italian soul, which today is filled with contempt for a useless [Monti] government working for insolvent derivatives whores! And what is Beppe Paul-Grillo's program? Smash unions, cut pensions, paralyze government by legislating through endless resolutions, dismantle infrastructure investment, reduce energy consumption, and just to please everyone, full pursuit of environmentalism—the true love of those more clean-cut imperialist monsters still ruling the industrial dung pile called Britain. Sound familiar, oh sequestered ones?
This is where Ivy League traitors and their warmongering, Tory colleagues have been and continue leading the United States. The goal? Same as it ever was: a supra-national banking dictatorship. Today's chaos ventures ushering in tomorrow's Fuehrer. It's that simple.
Pity these frauds, however, memory is fresh with knowledge of experience in the 20th century, from the marginalization of Weimar Germany to fascist domination of the European continent, and the counterposing U.S. experience in New Deal reestablishment of the American System of Political Economy.
We are staring at 750.000 souls thrown on the employment scrap heap while the devil's children in Washington consume a financial tyranny's Satan Sandwich. Probably double this number by ancillary fallout will be made destitute for reasons we must ultimately conclude are purely whimsical, albeit vicious at that. Worse still is the fact pressure on the federal budget will only grow from here on out. Europe already demonstrates this, as did Schwarzenegger's California before it. So, we can only look forward to yet more employment despair and irrational reaction from Washington's glorified bean counters in response to the federal government's collapsing tax revenues, now only the more certain to cascade into the abyss.
Little wonder Capo Confetti advises austerity predominantly be forced on seniors via so-called entitlements cuts. Of course, senior citizens predominantly are savers, not consumers feeding tax revenues, so Bernanke's logic is easily understood. Yet, already the Fed's zero interest rate policy is crushing their savings. Evidently, though, this isn't enough for the fascist quackademic misleading the Fed. Don't look now, but cover for his infinite quantitative easing is being irreversibly destroyed by sequestration. There's little hope left for the job market as a result. We can be sure, then, Bernanke is finished. Sequestration only puts another nail in his coffin.
Still, treasonous complicity of the political class in a bid to erode institutions upholding the supreme authority of the sovereign nation state no doubt makes the moment ripe for patriotic blowback. Should this be delivered by growing clamoring for a 1% Wall Street Sales Tax, this further blossoming into insistence the Federal Reserve be nationalized and transformed into a Hamiltonian national bank financing development projects of which there are no shortage, and whose pursuit awaits but political will, then Team Fraud's imperial patrons will be dealt a setback, and fatal at that. Securing this necessary development, too, of course, is reinstatement of Glass-Steagall.
Policy, alone, rightly distinguishes a true revolution from a "People Power" clown show. It's not nearly well enough corruption be named when offered in response only are cures worse than the disease itself.
Now, we can't have a collapsing global reserve currency when lesser imperial satraps have yet to be beaten into submission. This effort plainly being a work-in-progress with Italian "People Power" defiantly insisting Italy exit the EMU, rightly then do we find the dollar catching a bid (see lower chart). We probably should look forward to more of the same, while increasing chaos likely visiting the trans-Atlantic over the period ahead further develops.
Per this likelihood, I wanted to point out a technical matter revealed by the relative performance of the U.S. dollar versus the S&P 500. You'll have to click on the above chart to see my markup, which extends upward off the very bottom panel. Specifically noted are those handful of instances over the past few years when the U.S. dollar - S&P 500 relative performance crossed above its 20-day EMA (exponential moving average). In every instance did this coincide with the S&P 500 coming under pressure. Indeed, anytime the U.S. dollar - S&P 500 relative performance was rising, like it is now, the market's advance was halted. It's no odd coincidence, then, that just as our outlook currently anticipates formation of wave 4 of (c) the U.S. dollar is catching a bid.
Now, we have to wonder why it is that, when little old Greece brought forth a political movement (Syriza) calling for a debt moratorium while likewise seeking to remain in the EMU, its leadership was rebuffed in Team Fraud circles, whereas when Beppe Grillo threatens the EMU's breakup, U.S. Secretary of State Skull & Bones while in Rome is approvingly listening to the Five Star Movement's leaders. Could it be Syriza threatened to set the EMU on an altered course more conducive to its productive longevity, this following a fair and reasonable reorganization, whereas Italy's Five Star Movement more assuredly puts the EMU on course to its chaotic demise, leaving Team Fraud in much better position to pick up the pieces for pennies on the dollar? We've been told Italian President Napolitano while in Berlin this week cancelled a dinner date with German chancellor candidate Peer Steinbrück on account of the German calling the two big winners of Italian elections (Grillo and Berlusconi) "clowns." One wonders, though, whether the cold shoulder rather was given by Steinbrück. After all Napolitano was the one who installed Monti in 2011 after Berlusconi was deposed. Surely, Germany must be awake to the fact the EMU all along was being made a trap big enough to consume it. Surely, too, its salvation awaits transforming the ECB into a credit bank financing physical investment throughout the EMU, much like what must be done with the U.S. Federal Reserve, too. Only then will a fascist menace on both sides of the Atlantic be subdued. The point is there has hardly been a time when hearsay is better doubted, particularly when it originates from hopelessly bankrupt circles attempting to stir up chaos it hopes will help forestall its inevitable demise. To be certain is belief there's too much leverage on a dung pile that's getting stinkier by the day.
If you need more proof, look above at the S&P 500's weekly volume. Rudely speaking, fewer want the garbage the higher it is priced. In other words, I'm not alone believing an historic bankruptcy looms...
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