Down Market more news of manipulation

Evidently the media can no longer deny the reality of our economy.  They have milked the so called recovery for as long as possible.  Now that the market is not being manipulated to the upside by large corporations any longer, the media has to get on the band wagon that is rolling out the economy sucks banner.  The reporting on the economic crisis has been nothing less than despicable the past few years.  A few have taken up the truth flag such as Dylan Radigan, but the reporting of the msm has been completely bought and paid for by corporate America and the  White House.

The middle class America has been wiped out and the burden on small businesses has been so onerous that they can not grow and hire.  The thought of running a small business is not longer the thought of growing and expanding.  Owning your own business in this day and age is just a way to trick people into thinking they have something more than a job.  Even worse, owning your small business has become just a way to have a job without any vacation or benefits.
 
The balance in our economy, if there ever was one, has been tilted completely in favor of the elites and those running the government.  Now we hear the media ringing the bell that the stock market is headed south but it has little to do with the economy. 

The stock market will go down because the institutional traders want it to go down so they can screw any one holding stock now that it has gone upward far enough for people regain some hope that they may be able to take a breath and relax. 
How could it be any clearer?  The Stock market went up with no growth in the economy.  It was a total manipulation by corporate American and the government.  The hope was that it would improve the attitude of the country and they would all start spending money, Even the ones that are still  unemployed.  The complete incompetence of the government has screwed the economy for years ahead.  People still talk crap that housing is not a large part of the economy.  Evidently they don't teach much in econ class at the ivy league institutions.  This is likely because economics is bull shit and it has been and always will be used to manipulate the American people.  Economics is not difficult to understand the government doesn't want people to question the Oligarchs running the country.  We have been divided into a two class society with the separation of rich and poor getting larger and larger. 

The truth of a down economy has never been told, other that Matt taibbi in his recent rolling stone piece, (this is a must read by everyone)   makes it clear we were raped by the likes of Goldman Sachs and their friends in the government. 







Investors may have to get used to down market - Business - Stocks & economy - msnbc.com
from MSNBC

After closing at its highest level in nearly three years on April 29, the S&P 500 has tumbled nearly 7 percent on the back of a barrage of soft economic data, sparking the debate over whether the economy is headed for a double-dip, or has merely hit a soft patch in its recovery.


The benchmark S&P 500 recorded its sixth straight weekly decline Friday and volume has picked up, as it typically does, on down days. Another week of selling will mark the longest stretch of weekly losses for the index since 2001.



Red flags, including ugliness in the junk bond market, options activity and the ease with which support levels have been broken, suggest more selling ahead.



"You have to be realistic. You've got to have some sort of correction to go into this marketplace just for the healthiness of the market," said Cliff Draughn, president and chief investment officer at Excelsia Investment Advisors in Savannah, Georgia.



As stocks have declined, both investment-grade and high-yield risk premiums in the bond market have slumped as investors sought safe-haven assets.



That's troublesome since the stock market often moves in sympathy with the junk bond market because rising borrowing costs crimp corporate profits.

Read more on the lack of a recovery here at Naked Capitalism (Dude where is my recovery)

Massachusetts Supreme Court voids foreclosures - Jan. 7, 2011

Massachusetts Supreme Court voids foreclosures - Jan. 7, 2011 Mass. Supreme court will not allow bank to foreclose without proper evidence of title. The Foreclosure fiasco is exactly right. It is hard to believe the only reason this ended up in court was because the banks could not re sell the property after they took it back without the legal right to do so. They were trying to establish the chain of title by asking the court allow it even though they didn't do it before they brought the foreclosure proceedings. It appears that as long as the banks can get title insurance or sell property for cash after a foreclosure, they will not be required to prove ownership. This is likely to have happened millions of times in the United States already with nary a peep from the banks, Congress or the Administration. The White House has hopped back in bed with Wall Street after realizing the likelihood of losing too many votes to those done wrong by the banks was very slim. Moral of the story is after years of a devastating financial crisis caused by Wall Street the Too Big to Fail Banks has done nothing to change the truth that banks get their way.

Matt Tiabbi investigating foreclosures

This story is from the November 25, 2010 issue of Rolling Stone Magazine. 
Written by Matt Taibbil

The foreclosure lawyers down in Jacksonville had warned me, but I was skeptical. They told me the state of Florida had created a special super-high-speed housing court with a specific mandate to rubber-stamp the legally dicey foreclosures by corporate mortgage pushers like Deutsche Bank and JP Morgan Chase. This "rocket docket," as it is called in town, is presided over by retired judges who seem to have no clue about the insanely complex financial instruments they are ruling on — securitized mortgages and laby­rinthine derivative deals of a type that didn't even exist when most of them were active members of the bench. Their stated mission isn't to decide right and wrong, but to clear cases and blast human beings out of their homes with ultimate velocity. They certainly have no incentive to penetrate the profound criminal mysteries of the great American mortgage bubble of the 2000s, perhaps the most complex Ponzi scheme in human history — an epic mountain range of corporate fraud in which Wall Street megabanks conspired first to collect huge numbers of subprime mortgages, then to unload them on unsuspecting third parties like pensions, trade unions and insurance companies (and, ultimately, you and me, as taxpayers) in the guise of AAA-rated investments. Selling lead as gold, shit as Chanel No. 5, was the essence of the booming international fraud scheme that created most all of these now-failing home mortgages.

Chris here-  a  part I want to emphasize: 

----judges who seem to have no clue about the insanely complex financial instruments they are ruling on — securitized mortgages and laby­rinthine derivative deals of a type that didn't even exist when most of them were active members of the bench.----------

 The financial industry has used new vocabulary terms, new formulas and lack of transparency to to keep people on the outside from knowing what types of risk they were taking on the inside.  It is a long history of manipulation by the industry to allow Wall Street to gamble with other people's money in order to collect millions of dollars in salary and pay out a nominal return to the average investor.  If it is better than the going rate of a Certificate of Deposit, most people are happy if their investment continues to compound year after year.  People have been willing to accept whatever garbage Wall Street throws at them.  In part due to the smoke screen of complexity that financial institutions use so well, and partly due to being brainwashed that the people on Wall Street are just so much smarter than the rest of us. 
Read More Here at More Financial Reality