Random Musings-- 6/15/11

So much going on in the world.. where to begin?

Seems we're observing quite a double standard when it comes to US support of mass protest against government when people fight for their future.  When it occurs in Egypt, the US is so happy about it, it gives $1 billion to the new government as well as IMF loans.   When it occurs in Libya, the US and rest of NATO-land is so happy, it sends warplanes and troops over try tipping the civil war in their favor, and guarantee IMF loans to the rebels if they win.

But in Greece?  No No.. the US and West support the government and its decision to continue ignoring the will of its people in trying to push through harsh austerity including privatization of its infrastructure.  Why?  Cause it financially benefits the US and others more to cripple Greece than allow it to default.  Banks around Europe and possible the US might have to do honest, accurate accounting of their books i.e. mark to market and declare the truth that they're insolvent.  Tsk Tsk.. can't have that.  The ruse has been going so well thus far...

So as the police shoot teargas at the protesters and in return the Greek people throw yogurt and stones  (yes, yogurt.. didn't make this up), the various finance ministers and bankers continue figuring how to cut Greece to pieces while its corrupt Prime Minister acquiesces and the IMF-owned US government stands on the side of the bankers.

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Stocks went up a whole bunch yesterday based on nothing. Wasn't that exciting kids?

Reuters called it right--  said it was a 'one-day wonder'..     Yep.

As of 2:35p, Dow is down 197 at 11,878.

Why is it down?   Oh you'll hear Greece fears and concern over weaker economic news that was released.. blah..blah...  But if you look closely or pay attention, you'll see Europe turned to the dollar as safe haven currency as it always does.  This strengthens the dollar which cockroach Investors HATE because it means companies's export profits lessen.

Remember the primer I provided weeks ago on how to quickly and accurately read the markets--  if dollar goes up and oil goes down, the market goes down.  Oil prices have been declining today as well.

Now aren't you glad you didn't invest yesterday?

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Seems a whole bunch of people are mad at the Obama Administration for trying to independently conduct regime change in Libya without Congressional approval.   First, yesterday House Speaker John Boehner sent Obama a letter claiming that military action in Libya will violate the 1973 War Powers Resolution if it does not end by Friday, 90 days after it began.

Now today, A bipartisan group of House members announced its filing a lawsuit charging Obama made an illegal end-run around Congress when he approved U.S military action against Libya.

Of course they're right.  Wonder why Congress is so insistent though?

Maybe its because we have a Dem President and a Rep. House majority?  Hmm.. but that wouldn't explain the bi-partisan lawsuit.

Maybe its that after open-ended wars in Afghanistan and Iraq costing untold hundreds of billions of dollars, Congress is getting weary of these fights?   Or maybe its feeling this uneasiness in the pits of their collective stomachs that military involvement in Libya could easily last years even if we were 'victorious' tomorrow as nation building takes time (see: Iraq)

Or maybe its as cut and dry as Obama being wrong to have involved ourselves in Libya and to have kept Congress in the dark until after NATO operations had commenced

Something to ponder.

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According to The Hill, "House Minority Leader Nancy Pelosi saw her net worth rise 62 percent last year, cementing her status as one of the wealthiest members of Congress.  Pelosi was worth at least $35.2 million in the 2010 calendar year, according to a financial disclosure report released Wednesday. She reported a minimum of $43.4 million in assets and about $8.2 in liabilities."

Glad to see Pelosi taking advantage of laws that make insider trading not apply to members of Congress.

Oh you didn't know that? -- Yes, members of Congress are allowed Legally to acquire information about markets before they happen and free to invest accordingly.   Oh you didn't think these candidates spend millions of dollars to get elected simply to represent you?   Did you??

~ Fake pic obviously but made you laugh..  Aww, admit it...

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Wonder what's going on news-wise, over in China, our friendly #1 creditor..   I imagine another slow news day.. people working, shopping.. this, that...

"An eruption of protests throughout China has sent armoured vehicles into town centres, prompted an internet blackout by the government and left thousands across the country blogging about "crazy" violence on the streets. "

"More than 1000 migrant workers went on the rampage in Zengcheng after a pregnant street vendor in her 20s was roughed up by security guards. Such incidents, while distressing, are not uncommon. Witnesses said that the centre of town was bedlam, with smashed windows, blazing police vehicles and teargas explosions as rioters hurled missiles at an official building. One bank worker blogged that the Bank of China had ordered an immediate halt to all ATM transactions."  -- from The Australian

Wowie..  Hmm.. didn't seem to hear too much of this on cable news?

I guess its hard to fit this stuff in when everyone wants to watch the Casey Anthony trial or follow "Weinergate"

Whewwwie... so much to cover, I had forgotten to eat breakfast..  So I think I will close this posting and grab some poptarts-- going to need my energy for more honest, insightful commentary later on..

~  Mmm.. frosted Cherry... Yum Yum...