If Brian Williams cries in the woods, can anyone hear it?

I don't usually put my economic advice here, but several weeks ago, the market "topped" at approx. 11,800.

For those that know anything about what is called technical analysis, what it means is that the market tends to move in trading ranges. Technical analysts look to see if the market breaks out of those ranges. The previous high for the market was that 11,800 number. The low we are looking at is about 9800. FYI, it the Dow goes below that number, look out. You're probably looking at another quick 1000 point drop or more.

As I watched what was happening in Europe, and in particular, the German reticence to bail out Greece, as well as the election of the Conservatives in Britain (a very good thing and a lesson we should take. Btw, Conservatives in Britain roughly correspond to the OLD Democratic party here) I simply told my friends, and the folks who I still advise on their investments to get into cash. Not money markets, cash.

Why? Well, there are several countries that S & P considers to be in almost as deep trouble as Greece. We, and the Brits are on that short list.

The unfunded liabilities of the US are now approximately $120 TRILLION dollars. How much is that? More money than there is in the world.

That's right.

Worse, our structural deficit – the deficit for permanent programs like medicare, and the new health care plan, is rapidly approaching that magical 8% of GDP that economists consider the point at which default is unavoidable.

Now, as I painted my scenario for many, they poo pooed. However, slowly but surely, you are starting to see articles in mainstream papers that essentially repeat what the original Standard and Poors evaluation of US debt said, that measures that would cause "social unrest" were necessary to avoid default.

 

So, what about Brian Williams? Well, I'm certainly no fan of his, but working for GE which is in the pocket of the Obama administration b/c of the billions in "green" government energy projects they've been promised, he can't say anything on NBC.

But a week or so ago, he appeared on David Letterman, and after reciting the story of Greece, he said that he was "so scared I don't want to come out of my house".

I wonder why this hasn't been reported?

Pardon the interruption of your hysteria, but how about a few inconvenient facts?

I've waited to write this post (and another one I had planned) until some of the brouhaha over the new Arizona law died down a bit. As so often happens to me, I am left befuddled over the uproar. Call it once again, much ado about nothing.

Why do I say that? Well, it has been brought out that non citizens are already required to carry their identification at ALL times under federal law. And then there's that inconvenient fact that illegal immigrants are, well, illegal. And of course, you and I are generally required to carry identification if we want to engage in things such as driving, cashing checks, etc.

But more to the point, there has long been ensconced in federal law 2 things that make the Arizona law essentially just a restatement of what already is, and what is already required of local law enforcement.

 

The first is known as a "Terry Stop" which comes from a 1968 case, Terry v. Ohio. It had to do with the stopping of 3 men who were thought to be casing a store with the intent of robbing it. The detective stopped and frisked them. Weapons were discovered.

The Supreme Court ruled that there was a limit on the unlawful search and seizure rule and that an officer, with reasonable suspicion, could stop someone.

In the years after, the "stop and frisk" as it became known was expanded to include traffic stops and allowing police to request and require identification.

Next is a program that is known as 287(g) which EXPLICITLY empowers local law enforcement to enforce the immigration laws.

This program was started 15 years ago under President Clinton, and guess who expanded it? You got it, Obama. So, the squeaks you hear coming from Eric Holder and Obama himself might just be so much, well let's say it, lies.

 

There are those inconvenient facts getting in the way of the storyline again. Sorry.

Transparency?

I've written often over the last year and half about the fact that Obama administration has taken government secrecy to levels never seen before.

I've also written that it is actually far worse than that, with the white house press office having created an agency who actually PRODUCES news clips, photos, blog posts, tweets, etc. It all started oh so innocently, with the Rutgers women's basketball team's visit last year, but escalated with the "Beer Summit".

Now it has been taken to a new level with the nomination of Elena Kagan to the Supreme Court. Not only is no one allowed to get near her, and the White House conducting sham interviews made to look like news clips, but what ISN'T getting coverage are things like this. The New York Times, even in trying to do a puff piece about Kagan, was FORBIDDEN, yes, totalitarianism raises it's head again, forbidden from attending a class at Hunter college here in NY to hear what Kagan's BROTHER has to say!!

As I continue to write, and express to those around me, there are no historical precedents for the depravity, the criminality, and unconstitutional behavior of this administration.

It continues to befuddle me why no one can piece this together.