NZ dairy products going down in price as the world economy collapses

We’ve had it good the last two years and I’m sure most kiwi’s thought that with our own hard nosed businessman at the helm we’d be alright but last Friday that impression was corrected with the double down grade both Bankster John Key and Bill double Dipton (or should I say double downgrade) English had not seen coming.

They must be the only ones because silver coins continue to be unavailable at the NZ mint and that is saying something!

Today another clear sign of the disasters to come made it to the newspaper: Global and therefore NZ dairy prices are going down.

And with the Global economy going down the drain thanks to John Key and his bankster mates and millions and millions of people losing their jobs and homes that will only continue to happen. We are in for a world of pain my friends.

Silver temporarily out of stock at the New Zealand Mint!

Woa, the NZ mint is temporarily out of stock of both Fijian and New Zealand troy ounce silver coins!

US Closes 2010-2011 Fiscal Year With $14,790,340,328,557.15 In Debt, $95 Billion Jump On The Day, $1.2 Trillion Increase In One Year

There is no paying back this debt. America is bankrupt and so is the rest of the world. Endless wars have made 1% astronomically wealthy and the rest of us poor. Let’s shut down Wall street, City of London and get rid of John Key and his banking mates.

Penny Bright asked the right question:Does John Key profit from NZ’s debt? and that is what everybody should be asking him!

America has now officially closed the books on the 2010-2011 fiscal year. It is only fitting that the last day of the year saw the settlement of all outstanding and recently auctioned off debt. The result: a surge of $95 billion in total government debt overnight, and a fiscal year closing with the absolutely unprecedented $14,790,340,328,557.15 trillion in debt. Net net, in the past fiscal year, the US has issued a total of $1.228 trillion in new debt and has accelerated over time. At a rate of $125 billion per month, total US debt to GDP will pass 100% in just over a month. Incidentally, one may inquire about the benefits of centrally planned fiscal stimulus (cough Solyndra cough): the US economy added over 3$ trillion in debt in the past two years and the stock market is almost back to where it was back then. Perhaps it is about time someone demanded that all those lunatics who say that issuing debt for the sake of growth (and pushing the S&P higher of course) be finally locked away in perpetuity, and the key dropped into the deepest volcano in Mordor.

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Oh Shit!!!

Just in case your wondering Bank of America is the bank which bought Merrill Lynch and were John Key has most of his wealth stored away. He can not be a happy puppy!

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UPDATE 3: C -9.7%, BAC -9.3%, MS -7.1% & CDS blowing too in Financials (GS +60 at 387bps, MS +53 at 547, BAC +34 at 451, C +32 at 347…and Insurers (AIG +70 at 540, HIG +45 at 465, MET +27 at 390, PRU +35 at 340, and BRK +20 at 270)

UPDATE 2: Citi, MS, and BofA all down 8%!!!

UPDATE 1: Citi, MS, and BofA all down over 7% now, XLF -3.5%!!

In the last hour, financials have accelerated to the downside very rapidly. It seems perhaps that the credit markets were on to something and now equities are realizing that something is definitely worrying market professionals.

MS -5.7% at $12.7 (from highs just above $14 this morning as Cramer recommended).

BAC -4.75% at $5.82 (lows since MAR09)

GS -3% at $91.7

C -6%

XLF worst performing sector -2.5% (Is Kass still renting?)

 

UPDATED Chart (1445ET)

From Zero Hedge

Webster Tarpley on Occupy Wall street!

Max Keiser, Stacy Herbert and…. Roseanna Barr on occupying Wall street and the Guillotine for bankers

http://rt.com/s/swf/player5.4.swf?file=http://rt.com/files/programs/keiser-report/barr-191-keiser-wallstreet/ben-bernanke.flv&image=http://rt.com/files/programs/keiser-report/barr-191-keiser-wallstreet/ben-bernanke.jpg&skin=http://rt.com/s/css/player_skin.zip&provider=http&abouttext=Russia%20Today&aboutlink=http://rt.com&autostart=false

Out Of The “Hard Landing” Pan And Into The “Crash” Fire – Are Things About To Get Even Worse For China?

Just in case you’re wondering if things are any better in China just becasue they make things while earning a slave wage, think again!

Over the past week one of the more hotly debated and market moving topics was the resurgence of speculation that China may be on the verge of a “hard landing.” To a large extent this was driven by renewed concerns that the country’s debt load, especially at the local government level, will be a substantially greater hindrance to growth and hence, concern than previously thought. This was paralleled by concerns that Chinese growth will likely slow down substantially more than previously expected, even as inflation remains stubbornly high. The result: a move wider in Chinese CDS in the past week whose severity was matched only by a similar move around the time of Lehman, when the world was widely seen as ending. Concerns that delusions about decoupling are precisely that (courtesy of 3 out of 4 BRICs printing a contractionary sub-50 ISM also led to the biggest drop in the Hang Seng index since 2001, after it tumbled 22% in Q3 as fears that a Chinese slow down would impact all developing economies with an emphasis on East Asia. Yet if a Hard Landing is all it took to disturb the precarious balance in which China always somehow always ride off into the sunset having rescued the entire world, we wonder what would happen if the market started expressing concerns that a Hard Landing is the optimistic case, and nothing short of a Crash Landing may be the baseline. Because according to the Economist, which informs us of a very troubling development out of China in which foreigners may be about to face a new entitlement funding tax for all domestic workers beginning October 15, and hence a surge in overall labor costs, then a “Crash Landing” may well be in the cards for the world’s biggest marginal economy.

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First Veterans arrived at Wall street to support the Occupy Wall street movement

The first veterans have arrived on Wall street to support the demonstrators. This is what one of them has to say. I did not fight for Wall street!

The Nats’ muddle, your job on the line

Here’s a nice list of jobs lost or on the verge of being lost in NZ. Hat tip the Standard! I guess all those fired or soon to be fired “voters” will be happy with the services they need when they need to claim unemployment benefit

As National muddles through, refusing to reexamine its economic plans after the shock double-downgrade on Friday, the job losses are starting to pile up again. It’s very reminiscent of the last recession, which we will haven’t recovered from thanks to 3 years of muddling. Can we afford 3 more years? Here’s a list of job losses in the past month.

Up to 12 jobs may be lost at Port Otago as the company looks to reduce its workforce to meet an expected drop in the container trade. – Port Otago looking to shed workers

Department of Conservation (DOC) staff today learned 96 jobs will go within the next six months. – DOC reveals 96 jobs will be lost

Nearly 900 people have applied for 90 positions at a Kaiapoi supermarket being rebuilt after being destroyed in last September’s earthquake. – Hundreds chase Kaiapoi supermarket jobs

Earthquake-shattered Christchurch is set to lose at least 250 jobs from the closure of the Alliance Group’s Sockburn meat-processing plant. – 250 jobs to go as Sockburn shuts

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Meet the Haqqanis, the new al Qaeda or how we are going to be suckered into a war wit Nuclear armed Pakistan

Have you ever before heard of the Haqqanis? I didn’t think so. Like Al Qaeda, about which no one had ever heard prior to 9/11, the “Haqqani Network” has popped up in time of need to justify America’s next war–Pakistan.

President Obama’s claim that he had Al Qaeda leader Osama bin Laden exterminated deflated the threat from that long-serving bogyman. A terror organization that left its leader, unarmed and undefended, a sitting duck for assassination no longer seemed formidable. Time for a new, more threatening, bogyman, the pursuit of which will keep the “war on terror” going.

Now America’s “worst enemy” is the Haqqanis. Moreover, unlike Al Qaeda, which was never tied to a country, the Haqqani Network, according to Admiral Mike Mullen, chairman of the US Joint Chiefs of Staff, is a “veritable arm” of the Pakistani government’s intelligence service, ISI. Washington claims that the ISI ordered its Haggani Network to attack the US Embassy in Kabul, Afghanistan, on September 13 along with the US military base in Wadak province.

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12 Signs That Americans Who Love Liberty And Freedom Should Watch Their Backs

And that goes for us over here in NZ too!

Do you love liberty and freedom?  If so, you better watch your back.  The control freaks that run our society are stripping away our liberties and freedoms a little bit more each day, and lately they seem to be particularly focused on coming after those that are not “integrating” into the system.  Just like the rest of the western world, America is being transformed into a “Big Brother” police state control grid.  Nearly everything that you do is being watched and monitored.  A whole host of organizations know that you are on this website right now.  If you want to go to an NFL game next weekend, there is a good chance that you will be on the receiving end of an “enhanced pat-down” and if you are producing raw milk on your farm there is a good chance that the feds will show up for a pre-dawn raid on your property.  In many areas of the country, the government forces us to shoot our kids full of vaccines and implant dangerous microchips in our pets.  Virtually wherever we go there is a camera that is watching us or there are other Americans that are evaluating whether or not we are engaged in “suspicious activity” that needs to be reported to the government.  Once upon a time, America was all about liberty and freedom, but today our nation is undergoing a radical cultural shift.  America is being “locked down”, and those who love liberty and freedom should watch their backs.

Once upon a time, our founders thought that they were guaranteeing our freedoms by adding a Bill of Rights to the Constitution.

But today there are a lot of freedoms that we simply do not have any longer.

In America today, you do not have the right to say whatever you want.  If you say the wrong thing on a blog or a website it can have dramatic consequences.

In America today, you do not have the right to do raise your own children as you see fit.

In America today, you do not have the right to grow whatever food you want and you do not have the right to eat whatever food you do grow.

In America today, you do not have the right to be free from unreasonable search and seizure.

In America today, you do not have a right to privacy.  In fact, you should expect that everything that you do is watched, tracked, monitored and recorded.

If you doubt any of the statements above, just check out the examples posted below.

The following are 12 signs that Americans who love liberty and freedom should watch their backs….

#1 A 55-year-old man in Arizona was recently ordered to turn in all his guns because of things that he wrote on his blog.  Fortunately, after WorldNetDaily covered the story there was an outpouring of outrage and the order was overturned, but what would have happened if WorldNetDaily had not covered the story?

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James McMurtry ~ We Can’t Make It Here Anymore

Come to think of it, what can we actually make in New Zealand anymore?

Meltdown 2

And this is why John key is a bad idea and people are occupying Wall street:

http://c.brightcove.com/services/viewer/federated_f9?isVid=1&isUI=1

When The President Can Kill Who Ever He Wants

Without having to proof their guilt

Services got better despite cuts and the rest of the world burns! Only in New Zealand are people still oblivious!

If you were only to read the MSM in New Zealand this would be your reality: Fire thousands of people and you get better services (until the shock wears off and exhaustion sets in for those remaining) for the “voters”! The term voter indicating that the people voting will vote for National because they fired all those people. I wonder what those voters who got fired have to say about that but anyway you get my drift.

Wall street protesters are just a bunch of dumb freeloaders who should get a job and Dan Carter can’t play Rugby because he has a groin injury!

So I decided to link to a few demonstrations and protest around the world all of which are against the banks trying to enforce austerity measures to drive millions of people into a poverty not seen since the Great depression while they are living it up with their ill gotten gains which they use to bribe the police forces whom they need to protect them against the 99% they’ve robbed blind.

So here goes: New York, Seattle, Boston, Los Angeles, Portugal, Greece, to name a few cities and countries but unions and pilots and a 100 police officers in New York are also supporting what is happening in New York and it’s growing.

Recent Gold Takedown A Form of Economic Warfare

September 28 2011: A new milestone in corruption in the recent gold takedown, momentous psychological warfare being conducted in the markets, as well as with futures, derivatives, and options, calling a new bottom in the markets, Global systemic risk lurks around every corner, another liquidity crisis for Europe, shaky banks rattle the world economy.

The takedown of gold and silver markets over the past two weeks signified a new milestone in corruption, brazenness, arrogance and it reveals the level of evil control behind our government. This past week, in just one week, saw gold fall almost $200 and silver about $10.00. We have been involved in gold and silver for 53 years and the only event that comes close to this was October 19, 1987, when we witnessed the Bank of England sell down gold $100.00 under the orders of the Fed and the US Treasury, which borrowed the gold from the IMF. That was illegal, but that means little to the Illuminists who do as they please. Today thanks to Ronald Reagan we have the “President’s Working Group on Financial Markets,” which has legitimatized corruption to conform to the Keynesian model of corporatist fascism. After the close on Friday we were informed, that the CME, which controls the Comex, had raised margin requirements on gold by 21%, silver 16% and in copper by 18%. In retrospect it is obvious that many banking insiders and traders knew early in the week that this momentous psychological warfare was going to be unleashed on these markets. Your government definitely rigged these markets. Today in America and many other places as well, crime pays. What has been done to investors over this past week is not only a crime, but also a disgrace to all Americans.

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Wisconsin Judge: No Right to Decide What to Eat Without Permission from State

You think that is just going to happen over there? Think again! NZ Food laws are about to change in order to exert more control over you and yours.

Demonstrating his ignorance of core values enshrined in common law and what Judge Cooley defined as the “right to be left alone” from overly pernicious government interference, a Circuit Court judge in Wisconsin has ruled that people who consume raw milk have no right to do so.

In response to a request from the Farm-to-Consumer Legal Defense Fund for clarification in a court case on the issue, Judge Patrick J. Fielder wrote that the “court is unwilling to declare that there is a fundamental right to consume the food of one’s choice without first being presented with significantly more developed arguments on both sides of the issue.”

According to Fielder, citizens must get permission from the state before deciding what they can or cannot eat or drink.

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Financial Warfare: “Sheared by the Shorts”. How Short Sellers Fleece Investors

Why did gold and silver stocks just get hammered, at a time when commodities are considered a safe haven against widespread global uncertainty?  The answer, according to Bill Murphy’s newsletter LeMetropoleCafe.com, is that the sector has been the target of massive short selling.  For some popular precious metal stocks, close to half the trades have been “phantom” sales by short sellers who did not actually own the stock.

A bear raid is the practice of targeting a stock or other asset for take-down, either for quick profits or for corporate takeover.  Today the target is commodities, but tomorrow it could be something else.  When Lehman Brothers went bankrupt in September 2008, some analysts thought the investment firm’s condition was no worse than its competitors’.  What brought it down was not undercapitalization but a massive bear raid on 9-11 of that year, when its stock price dropped by 41% in a single day.

The stock market has been plagued by these speculative attacks ever since the four-year industry-wide bear raid called the Great Depression, when the Dow Jones Industrial Average was reduced to 10 percent of its former value.  Whenever the market decline slowed, speculators would step in to sell millions of dollars worth of stock they did not own but had ostensibly borrowed just for purposes of sale, using the device known as the short sale.  When done on a large enough scale, short selling can force prices down, allowing assets to be picked up very cheaply.

 Another Great Depression is the short seller’s dream, as a trader recently admitted on a BBC interview.  His candor was unusual, but his attitude is characteristic of a business that is all about making money, regardless of the damage done to real companies contributing real goods and services to the economy.

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Don’t Worry, The Federal Reserve Just Wants To Be Your “Online Friend”

According to CNBC, the Federal Reserve “is planning on monitoring what you say about it on social media platforms like Twitter and Facebook”.  Apparently we are not supposed to be alarmed though, because as the CNBC headline states, the Federal Reserve just “wants to be your Facebook friend“.  In fact, the CNBC article says that anyone that feels threatened by the fact that the Federal Reserve will be monitoring what we say on Facebook and Twitter is just “paranoid“.  Well, if it came out that Barack Obama was setting up a system that would identify “key bloggers” and monitor “billions of conversations” on the Internet to see what was being said about him, wouldn’t there be thousands of articles expressing outrage?  Sure there would be.  The Federal Reserve is supposed to be an independent central bank that is above politics.  So why in the world would they need to perform “sentiment analysis” on what is being said about them on “Facebook, Twitter, Blogs, Forums and YouTube“?  The Federal Reserve obviously intends to identify the negative things that are being said about it and the specific people that are saying those things.  So is it really being “paranoid” to point out that all of this is more than a little bit creepy?

The other day, this story about the new “Social Media Monitoring Solution” that is being developed by the Federal Reserve was first broken by Zero Hedge.  Then I wrote about this story on The Economic Collapse and a lot of other bloggers started writing about it too.

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Prophets Of Doom: 12 Shocking Quotes From Insiders About The Horrific Economic Crisis That Is Almost Here

Shared per request of the writer. The source is Economic collapse blog!

We are getting so close to a financial collapse in Europe that you can almost hear the debt bubbles popping.  All across the western world, governments and major banks are rapidly becoming insolvent.  So far, the powers that be are keeping all of the balls in the air by throwing around lots of bailout money.  But now the political will for more bailouts is drying up and the number of troubled entities seems to grow by the day.  Right now the western world is facing a debt crisis that is absolutely unprecedented in world history.  Europe has had a tremendously difficult time just trying to keep Greece afloat, and several much larger European countries are now on the verge of a major financial crisis.  In addition, there is a growing number of very large financial institutions all over the western world that are also rapidly approaching a day of reckoning.  The global financial system is a sea or red ink, and when we get to the point where there are hundreds of ships going under how is it going to be possible to bail all of them out?  The quotes that you are about to read show that quite a few top financial and political insiders know that things cannot hold together much longer and that a horrific economic crisis is coming.  We built the global financial system on a foundation of debt, leverage and risk and now this house of cards that we have created is about to come tumbling down.

Live stream Wall street demonstrations!

Brooklyn bridge closed by demonstrators who are trying to close down Wall street!!!

Here is the link to the live stream

No More Pentagon Dinners: Al Qaeda Leader Killed… Again

According to a “senior US administration official”, Al Qaeda Boogie Man Anwar al-Awlaki has been reported killed in an air strike in Yemen, which is the exact same way he died in 2009.

The Yemeni defense ministry confirmed the claim, stating that the same counterterrorism unit that killed Osama bin Laden used a drone and jet strike in Yemen to kill al-Awlaki.

“Cynics will point to the strategic timing” notes TIME, adding “just a week after embattled Yemeni President Ali Abdullah Saleh returned from four months of medial treatment in Saudi Arabia following an attack on the presidential compound.”

Moi? Cynical? Never.

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17 Facts That Prove That The Average American Family Is Getting Absolutely Pulverized By This Economy

How in the world does the average American family survive in this economy?  The median household income is a little bit less than $50,000 a year right now.  So let’s call that about $4000 a month.  But before any of that money gets spent, you have to take out at least $1000 in taxes.  That leaves about $3000 a month to pay all the bills with.  With that $3000 you have to pay the mortgage (or rent), make the car payments, make the student loan payments, pay for power and water, pay for health insurance, pay for home insurance, pay for car insurance, pay the phone bill, pay the Internet bill and pay the cable bill.  On top of all that, every member of the family needs three meals a day and the cars need to be filled up with gasoline or they won’t go anywhere.  Of course I haven’t even mentioned expenses that don’t happen every month such as car repairs or new shoes.  No wonder so many families are feeling so financially stressed!

The truth is that American families are getting squeezed harder than they have been in ages.  The number of good jobs is declining, incomes are going down, and the cost of living just keeps going up.

The following are 17 facts that prove that the average American family is getting absolutely pulverized by this economy….

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John Key, down grades and Coro street: or why you should be really worried!

This week NZ’s credit rating was down graded by two “independent” financial ratings agencies but that did not seem to worry John Key and Bill English our Finance minister had no clue it was coming.

In fact it seems the John Key has gone out of his way to avoid any political exchange with journalists and media while he was dominantly present discussing Cats, Rugby and Coro street.

This flummoxed many of the usual John Key observers and critic-casters who are at a loss as to who is leading the country and what the political direction is this government proposes to get us out of our current downward economic spiral.

But John Key is not dumb and neither are his PR team and here is why:

In this video Laurie Manwell explains how easy it is to manipulate people into liking or not liking people and how little it really has to do with their capabilities or reality. While the presentation is about how difficult it is for people to open theory eyes to the realities of 911 it also explains what is happening with regards to this strange detached liking of John Key. She details a research project in which students are manipulates into liking or disliking a teacher at approximately 12.5 minutes into the video for those who don’t want to watch the whole presentation.

Cloud-Powered Facial Recognition Is Terrifying

By harnessing the vast wealth of publicly available cloud-based data, researchers are taking facial recognition technology to unprecedented levels

“I never forget a face,” goes the Marx Brothers one-liner, “but in your case, I’ll be glad to make an exception.”

Unlike Groucho Marx, unfortunately, the cloud never forgets. That’s the logic behind a new application developed by Carnegie Mellon University’s Robotics Institute and Google that’s designed to take a photograph of a total stranger and, using the facial recognition software PittPatt, track down their real identity in a matter of minutes. Facial recognition isn’t that new — the rudimentary technology has been around since the late 1960s — but this system is faster, more efficient, and more thorough than any other system ever used. Why? Because it’s powered by the cloud.

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Kenya mourns death of Nobel peace laureate Wangari Maathai at 71

I mourn her death too.

Kenyans mourned the passing of a national hero yesterday after it was announced that the Nobel laureate Wangari Maathai had died of cancer at a Nairobi hospital, aged 71.

Remembered by many in her native country as a fierce human rights campaigner, she was better known internationally for her conservation work. Her remarkable progress from village girl to groundbreaking academic to environmental and women’s rights activist was capped in 2004 by becoming the first African woman to win the Nobel peace prize.

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