Monday, September 28, 2009
A friend recently invited me to a private screening of Michael Moore's
new film Capitalism: A Love Story. The September 16th invite not
surprisingly leaned a certain direction:
"[Michael] Moore takes us into the homes of ordinary people whose lives
have been turned upside down; and he goes looking for explanations in
Washington, DC and elsewhere. What he finds are the all-too-familiar
symptoms of a love affair gone astray: lies, abuse, betrayal and 14,000
jobs being lost every day. Capitalism: A Love Story...is Michael
Moore's ultimate quest to answer the question he's posed throughout his
illustrious filmmaking career: Who are we and why do we behave the way
that we do?" (more)
Federal Reserve Chairman Ben Bernanke has declared that the recession is over.
Addison Wiggin, executive publisher of Agora Financial, isn’t buying it.
In an interview with Dan Mangru of Newsmax TV, Wiggin said that the recent economic data, such as GDP and retail sales, don’t tell the whole picture.
“It’s fictitious growth. It’s government stimulus making its way through the economy. But we don’t see any real recovery at the moment.” (more)
When we wrote “Inflating a Bull Market,” we mentioned the inverse relationship between the US dollar and stock prices. In March, the US dollar peaked from overbought levels and began to decline. At the same time stocks bottomed from oversold levels and began to move up. The reason is simple – Stocks are priced in US dollars. As the dollar weakens, it takes more of them to buy stocks (or anything priced in Dollars), which causes prices to rise.
The US Dollar is now oversold and may be poised for a move-up (at least in the shorter term) which should cause the price of “things” priced in dollar to decline (Stocks, Bonds, Commodities, etc) (more)
The rich have left the poor far behind in the United States.
That's according to data posted on the Web site of the National Union of Public and General Employees.
It shows that the top one percent of income earners obtained two-thirds of the income gains between 2002 and 2007.
The gap between the top one percent of income earners and the bottom 90 percent is greater than at any time since 1928, according to the NUPGE. (more)