FROM PEAK OIL TO PEAK EMPLOYMENT

Claims came in at 554,000 this AM, staying stubbornly high. You can see where we compare to worst reading from last Recession in 2001! As claims receded after peaking in 2001, we now know the stock market did not bottom until late 2002 early 2003! So even an improving employment picture here wouldn't guarantee a higher stock market.

After reading July Elliott Wave Theorist, a few things come to mind. Gov hardly ever gets it right, even as the fervor over Global Warming recedes, the Gov is attempting to pass along the highest tax increase inits history called CAP and TRADE.

Institutions set up to assist Small BIZ have failed and Banks will not lend (as I pointed out with 7a data)

It is indeed VERY possible this rally will carry further and last longer than most consider it could, but I warn IMHO this will be used to distribute to the unwary, and draw in as many as possible before the REALITY of the 2nd Depression hits home and real panic begins.

I do not believe there is any government action that can derail the unwinding of the most excessive powerful CREDIT EXPANSION and DEBT EXPLOSION in history.

INstead of Banks lending for normal business reasons, most became MORTGAGE BROKERS, now they are almost ALL saddled with NON PERFORMNG LOANS.

And many foreclosed homes are being vandalized by previous owners, tennants, or others depreciating their value even more.

How is this being dealt with? WE fixed the problem by SUSPENDING the need to "mark the assets to TRUE market value."

HOPE? maybe it starts HERE with PETER SCHIFF, one of the few speaking out before the shit hit the fan and a NON POLITICIAN, is anyone else SICK of politicians? LETS TAKE BACK OUR GOV!

Friends,
As you know, I have been seriously considering running for U.S. Senate against Chris Dodd.
Everywhere you turn there is evidence of just how bad our economy is getting. Growing unemployment, families that are struggling to put food on the table, and retirees that are having to make the choice between doing without or joining the millions of others that are looking for a job. Unfortunately, many of our economic woes have been created by government intervention and politicians who believe themselves to be economic “experts.”

http://www.schiffforsenate.com/

If I WAS LONG THE MARKET......I would be using this rally to raise cash, put my money in safest place possible, and try to survive the 2nd great depression. Come on friends, what have these IDIOTS fixed? the game maybe nothing more.....

D