What the FED doesn't want you to know.

Visit msnbc.com for Breaking News, World News, and News about the Economy

QID

Bought a position of QID PROSHARES NASDAQ ULTRASHORT at $27.14. Stop at $26.80.

John Stewart takes on Goldman Sach's

The Daily Show With Jon Stewart	Mon - Thurs 11p / 10c
Pyramid Economy
www.thedailyshow.com
Daily Show Full Episodes Political Humor Joke of the Day

WNR

Bought to close WNR JUL7.50 PUT @.85 for a LOSS. Just rather buy them back at close to par today and take the loss. I don't know what next week could bring.

Are you kidding me? Housing starts are up. Thats insane!

This can not be good:

July 17 (Bloomberg) -- Housing starts in the U.S. unexpectedly rose in June as construction of single-family dwellings jumped by the most since 2004, signaling the market is stabilizing. The 3.6 percent increase brought starts to an annual rate of 582,000, the highest level since November and followed a 562,000 pace in May that was higher than previously estimated, the Commerce Department said today in a Washington. Building permits, a sign of future construction, rose the most in a year.

"Signaling the market is stabilizing" That is insane!!!

How can building more houses be good for the economy? We have so many houses in foreclosure and so much available inventory. This is foolish. I think building more in this current financial crisis is criminal. It will bring down housing values further, destroying equity (whatever is left) for most people. The lenders are behind this taking money from the discount window at 0% basically and lending at 5, 6, 7 or more percent. If the loans fail, there is still 'plenty' of TARP money available. That way we can see more banks, etc make $3-4 billion/quarter, while the taxpayer gets fleeced.

I get sicker by the day.

The Real Price of Goldman's Giganto-profits

I am on a rant today about Goldman Sachs...Sorry.

The Real Price of Goldman's Giganto-profits, Matt Taibbi - Click for some entertaining reading.

Another must watch: Glenn Beck explains the Goldman/Federal Gov't connection

This is a must watch video. Goldman Sachs has got their fingers into everyone's arse in Washington and their whole hand in our pockets.

Max Keiser takes offense to Goldman Sachs story

I love this. Watch him go off on Goldman Sachs.

Part 1



Part 'Deux' 2

Green shoots or no green shoots. Behind JPM's number with David Faber.

About 2:30 into the video, look at the charts he pulls up. See the green shoots there?

Morning Joe 7/16/2009

U.S. Jobless Claims Slump, Reflecting Timing of Auto Layoffs (Bloomberg)
Foreclosures rise 15 percent in first half of 2009 (AP)
CIT Calls Bailout Unlikely, Fuels Bankruptcy Concern (Bloomberg)
JPMorgan Profit Rises 36 Percent, Beating Estimates (Bloomberg)
Treasury Bets U.S. Financial System Can Weather CIT Collapse (Bloomberg)
China’s Economic Growth Accelerates to 7.9% on Loans (Bloomberg)
Talks fail to break California budget crisis (Reuters)
Commercial Real Estate crash would cripple U.S. Banks (Huffington Post)


Bank of America Corp - The biggest U.S. bank by assets said net charge-offs on its credit-card trust rose to 13.86 percent in June from 12.5 percent a month earlier.

What Wall St Owes You

Watching Goldman: BNN speaks with Janet Tavakoli of Tavakoli Structured Finance.

No holes barred on how she feels about Goldman Sachs and government.

http://watch.bnn.ca/squeezeplay/july-2009/squeezeplay-july-15-2009/#clip193973

SUN

Bought SUN AUG22.5 PUT SUNTX $1.15 for protection. Order filled.

Original post on trade: Click Here