http://stockmarketchartanalyst.blogspot.com/
Here are a number of articles I read this morning, from my favorite "alternative" news sources:
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Shadow Government Statistics:
Analysis Behind and Beyond Government Economic Reporting
http://www.shadowstats.com/
If you've watched my last few updates on the market, you'll notice that I'm quite cynical when it comes to any economic report put out by the government (and I'm also very skeptical that earnings reports aren't continually being fudged. Just look at the recent SEC case against Dell as an example). This site gives you the REAL scoop when it comes to the government's reports of economic data...
And here is a PRIME example of what I'm talking about:
Nine States Did Not File Initial Claims Data Due To Labor Day, Hundreds Of Thousands Of Estimates In Data "Beat":
The BLS has announced that as a result of the Labor Day weekend, 9 states (among which the biggest one California) did not report initial claims data to the bean counters, so instead the government had to "estimate" what the data would have been
http://www.zerohedge.com/article/nine-states-did-not-file-initial-claims-data-due-labor-day-hundreds-thousands-estimates-data
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Show Me the Recovery:
While second-quarter sales increases are encouraging, weak cash generation is worrisome.
http://www.cfo.com/article.cfm/14522495
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Claims of Recovery But Results Nowhere To Be Found:
A weekly excerpt from the subscription issue of The International Forecaster, taken from Bob Chapman's weekly publication.
http://theinternationalforecaster.com/International_Forecaster_Weekly/Claims_of_Recovery_But_Results_Nowhere_To_Be_Found
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Economists Cut U.S. Growth Forecast - AGAIN!:
Projected U.S. economic growth for the rest of this year and next was revised down for a third month in a row by a panel of about 50 economists.
http://finance.yahoo.com/news/Economists-cut-US-growth-rb-1119878296.html?x=0
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Hell Yes It’s Class Warfare! Part 1:
There is an intentional misconception out there in the market place of talking points and political discussion – it is that liberals are waging class warfare on the wealthy.
http://cons-lie.com/2010/09/07/hell-yes-its-class-warfare-part-1/
Hell Yes It’s Class Warfare! Part 2:
http://cons-lie.com/2010/09/08/hell-yes-its-class-warfare-part-2/
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The Wholly Fallible Ben Bernanke:
Despite three crucial errors at the Federal Reserve, its chairman is still revered as if he is the pope – while we pay the price.
http://www.guardian.co.uk/commentisfree/cifamerica/2010/sep/08/ben-bernanke-federal-reserve
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Rome is Burning:
There is a critical point that I fear the commentariat is just not getting.
http://modeledbehavior.com/2010/09/07/rome-is-burning/
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In The Headlights:
The toils of summer are bygone now. The days grow shorter and America stands in the darkling road of its own prospects like a dumb animal frozen in the blinding light of approaching fury.
http://www.kunstler.com/blog/2010/09/in-the-headlights.html#more
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Death By Globalism:
Have economists made themselves irrelevant? If you have any doubts, have a look at the current issue of themagazine, International Economy, a slick publication endorsed by former Federal Reserve chairmen Paul Volcker and Alan Greenspan, by Jean-Claude Trichet, president of the European Central Bank, by former Secretary of State George Shultz, and by the New York Times and Washington Post, both of which declare the magazine to be “ahead of the curve.”
http://www.counterpunch.org/roberts09012010.html
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And finally, the winner of the "Doom and Gloom Award" goes to this piece, which I found to be a fascinating read...
Doomsdayers Not Cynical Enough:
[Like your editor, Rick’s Picks forum regular Wayne Razzi (aka “Red Will”) is a veteran floor-trader who grew up in South Jersey. When I asked him if he would like to contribute a guest commentary, I was not expecting the provocative tour de force that unfolds, step by step, below. In the essay, Will asserts nothing less that that the impending collapse of our economic system was meticulously engineered by financial and political sociopaths. Let me attest that his is not some whack-o conspiracy theory; rather, it is the closely-reasoned argument of a highly intelligent person who values truth sufficiently to have searched for it, in the form of an answer to a profoundly disturbing question, for many years. Judge for yourself whether his conclusions tally with your own thoughts as to why the American Dream is about to go bust. RA]
http://news.goldseek.com/RickAckerman/1284012060.php
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That's it for today...
I hope you enjoy reading these articles as much as I did!
Happy Trading!...
the zigzagman
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