SLOWDOWN SLOWS BUT DIRECTION THE SAME

Friends, the data is not supportive to a return to prosperity, on the contrary, we are digging a deeper hole to throw ourselves in.

from vaunted source TRIM TABS

TrimTabs Investment Research estimates that the U.S. economy lost 488,000 jobs in July, considerably more than the consensus estimate of a loss of 305,000 jobs. In addition, TrimTabs expects the Bureau of Labor Statistics to revise its job loss estimates sharply higher for the first half of 2009 based on the latest unemployment insurance survey results.

“While Wall Street is convinced the recession is over, the economy continues to shed jobs at an alarming rate,” said Charles Biderman, CEO of TrimTabs.

*Here we are friends with the GOONS from CNBC trotting all their crony friends out to herald the NEW GREAT BULL MKT and economic expansion....even as the one we got aint finished contracting, well it has slowed its decent into hell.

Housing prices over much of the US are still falling. and this would under normal circumstances take HUGE HITS to the financials bottom line, instead they no longer have to show losses or values based on market value....they can just make it up I guess.....OH and borrow at 0% and trade like bandits for profits.

Unless I'm wrong, and maybe they'll goose up the next GDP to 3% and SURPRISE EVERYONE!!!! even if it comes from inventory buildup and its temporary.

If they can BIRTH as many jobs out of thin air they want, anything is possible, trust your eyes...and nose

ANd below from another great source ZERO HEDGE! we got manipulation folks, all sanctioned by the FED who doesn't want tog et audited......

http://www.zerohedge.com/article/feds-us....
In a brilliant piece of investigative reporting, Chris Martenson (original article here) has uncovered that the Fed, merely a week after issuing $28 billion in 7 year bonds (which Zero Hedge discussed previously) of which $10 billion ended up being purchased by primary dealers, has turned and bought 47% of the primary allocated bonds in Open Market Purchases. This is undisputed monetization removed simply via one primary dealer and less than 5 days of temporal separation in order to leave no easy trace.

As Martenson points out:"A more honest and open approach would have been for the Fed to simply buy them outright at the auction but this way, using "primary dealers" and "POMOs" and all these other extra steps the basic fact that the Fed is openly monetizing US government debt is effectively hidden from a not-too-terribly inquisitive US press and public."

D