MARKET WRAP " RECORDS ARE BEING SET"

U.S. Consumer Credit Falls by a Record $21.6 Billion (bloomberg)****** NOTE, don't we have a CONSUMER ECONOMY????????

Quantitative easing program is set to conclude in less than month.

There is NO other market for mortgages......FHA's share of the mortgage market went from paltry 3% in 2006 to around 23% currently. FANNIE and FREDDIE hold $5 trillion....as late payers baloon.

More accurate U6 more inclusive unemployment report just hit record 16.8 %.... the BLS blows their numbers apart in some acid induced algoryhtm of ficticous BS

Workweek hours at a LOW LOW stagnant 33.1 another RECORD.

Record # of families using FOOD STAMPS.

Nearly 90% of all homes sold have mortages GUARANTEED by GOV another record.

BIG BANKS are not marking their ASSETS to market value...allowing a make believe fantasy earnings report.

RECORD GOV SPENDING

RECORD DEFICITS

RECORD DEBT as % of GDP

WHAT MAKES UP THE GDP if lending is contracting, spending is contracting, jobs are contracting....

DO you think the stock market is a true reflection of our current and near future situation?

In the REAL WORLD I LIVE IN, most don't give a shit the direction of the market, most realize they've been HAD and sold out to the bankers....and int he REAL WORLD I LIVE IN PEOPLE ARE HURTING and can't find work so if some of these whore bank analysts want to prognosticate SPX earnings at $70 and say " SPX is GROSSLY undervalued..." I guess they are just drunk with the $5B in bonusses shooting out of their ass....that we paid for.


The report can be downloaded at http://bit.ly/1s5gDq

"A comprehensive national survey conducted among 1,200 Americans nationwide who have
been unemployed and looking for a job in the past 12 months, including 894 who are still
jobless, portrays a shaken, traumatized people coping with serious financial and psychological effects from an economic downturn of epic proportion."

D