There is more to it than just this article, but Charles Gasparino is correct.

Saint Warren’s dark side: Ugliness the media overlook

Here is an article about the MF Global debacle and how the CME is involved in proving Corzine’s wrongdoing.

Here is what I wrote on March 6, 2009.

Here is a quick prediction for you.

Obama’s radical spending/deficits will lead to a  legacy of trillions in new debt that will result in the USA bond rating being reduced from AAA by the end of 2011.

Think I’m crazy? Wanna bet me?

We were just downgraded last night August 5, 2011 by S&P.

http://michellemalkin.com/2011/05/31/chart-of-the-day-america-the-dependent/

http://iowntheworld.com/blog/?p=60214

As you can see, over roughly the last year China’s holdings have stayed flat, Japan’s have increased slightly, and our friends in the United Kingdom have increased their holdings significantly. The data is updated periodically on the treasury website. This chart is using the latest data released by the treasury on January 18, 2011.

http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/mfh.txt

(The data at the above link changes periodically, but it can always be found there)

(h/t c4p)

Almost on cue, today the Dollar is rising and taking the DOW down as a result. This is not healthy long term and is a serious problem. Stocks going up with a worthless dollar is pointless as is a strong dollar with stocks worth nothing. Eventually, there needs to be some stability in this relationship for long term prosperity. They do not need to rise together all the time, but what we have now is just not going to work for long term economic prosperity.

The last 10% of the DOW’s rise has come at the expense of the US Dollar.

Meanwhile, Gold has surged during this same time period.

Check this out.

This Is Why There Are No Jobs in America

I’d like to make you a business offer.

Seriously. This is a real offer. In fact, you really can’t turn me down, as you’ll come to understand in a moment…

Here’s the deal. You’re going to start a business or expand the one you’ve got now. It doesn’t really matter what you do or what you’re going to do. I’ll partner with you no matter what business you’re in – as long as it’s legal.

But I can’t give you any capital – you have to come up with that on your own. I won’t give you any labor – that’s definitely up to you. What I will do, however, is demand you follow all sorts of rules about what products and services you can offer, how much (and how often) you pay your employees, and where and when you’re allowed to operate your business. That’s my role in the affair: to tell you what to do.

Now in return for my rules, I’m going to take roughly half of whatever you make in the business each year. Half seems fair, doesn’t it? I think so. Of course, that’s half of your profits.

You’re also going to have to pay me about 12% of whatever you decide to pay your employees because you’ve got to cover my expenses for promulgating all of the rules about who you can employ, when, where, and how. Come on, you’re my partner. It’s only “fair.”

Now… after you’ve put your hard-earned savings at risk to start this business, and after you’ve worked hard at it for a few decades (paying me my 50% or a bit more along the way each year), you might decide you’d like to cash out – to finally live the good life.

Whether or not this is “fair” – some people never can afford to retire – is a different argument. As your partner, I’m happy for you to sell whenever you’d like… because our agreement says, if you sell, you have to pay me an additional 20% of whatever the capitalized value of the business is at that time.

I know… I know… you put up all the original capital. You took all the risks. You put in all of the labor. That’s all true. But I’ve done my part, too. I’ve collected 50% of the profits each year. And I’ve always come up with more rules for you to follow each year. Therefore, I deserve another, final 20% slice of the business.

Oh… and one more thing…

Even after you’ve sold the business and paid all of my fees… I’d recommend buying lots of life insurance. You see, even after you’ve been retired for years, when you die, you’ll have to pay me 50% of whatever your estate is worth.

After all, I’ve got lots of partners and not all of them are as successful as you and your family. We don’t think it’s “fair” for your kids to have such a big advantage. But if you buy enough life insurance, you can finance this expense for your children.

All in all, if you’re a very successful entrepreneur… if you’re one of the rare, lucky, and hard-working people who can create a new company, employ lots of people, and satisfy the public… you’ll end up paying me more than 75% of your income over your life. Thanks so much.

I’m sure you’ll think my offer is reasonable and happily partner with me… but it doesn’t really matter how you feel about it because if you ever try to stiff me – or cheat me on any of my fees or rules – I’ll break down your door in the middle of the night, threaten you and your family with heavy, automatic weapons, and throw you in jail.

That’s how civil society is supposed to work, right? This is Amerika, isn’t it?

That’s the offer Amerika gives its entrepreneurs. And the idiots in Washington wonder why there are no new jobs…

Regards,

Porter Stansberry

The 10 year bond finished today at 2.78%. The 10 year yield has fallen considerably from the 4% level from only a few months ago. The current yield is approaching the panic levels of late 2008 when it briefly bottomed at around 2.1%. The current yield is almost exactly where it was during the March 2009 stock market lows.

This is not good. The bond market is flashing major warning signs that deflation still persists and that the economy is about to get weaker, not stronger. Keep an eye on it. I always use my own brain to determine what is going on, but if I had a choice to believe the government and their economic outlook, or the bond market, I would choose the bond market every time.

I do not have time to respond to every e-mail I receive, but I am always happy whenever I receive one that thanks me for helping a reader make some money. It is hard to make a living these days and even harder to save money for a house, or raise capital for a business, or just taking care of your family so I am very glad I could help.

To those who are thanking me, you are welcome! I am happy to help when I can.

I am also asked alot in emails what I would recommend buying now and what advice I currently have etc. The thing is, I am a very patient investor. When I see something that is a sure thing, (or as sure as anything gets in life and the market) I bet big. Like anyone, there are some things I keep private of course. Also, in many cases what I am doing personally only makes sense for me given my situation. We all weigh risks differently depending on our own lives.

For example, maybe for me a 50% downside risk in a stock VS a 300% upside makes sense. For you, 50% downside might be simply unacceptable and therefore that advice would be worthless even if it turns out to be a great bet. That is why I made such a point about my March 2009 buy call on the stocks I listed. I KNEW you would make money on those and there was no ambiguity. Why? Because I bought those very same stocks that very day I published that post. The economy was still bad but the market was ready for a bullish phase. I was right. You made money. I made alot of money.

In 2003, I knew the economy and market would boom with the tax cuts and I bet big.

In late 2007, I knew we were headed for a deflationary credit collapse, so I bet big.

In March 2009, I bet big on stocks as you read on this blog.

In April 2010, I bet big  against stocks when I told you it was time to get out.

These are just some of my calls over the last 18 months and you can go back the see the charts and the track record by reading old posts. Unlike the freaks on TV who push new stocks to you everyday, I keep my powder dry until I can see the whites of their eyes. “Their” being the next great investment opportunity.

Anyway, Thanks for the e-mails. It is always nice to be appreciated:)