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Egg on Your Face
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It’s Egg on your face Monday. You choose the best from the list of candidates.
  • First, American media blathered on about Islamic terrorism, from the network that introduced bias fear based news FOX News to the supposedly liberal Washington Post. Then we learned the real TERRORIST in Norway was a white, right wing, Christian, fundamentalist TERRORIST. Just another example of how the Islamaphobic, fear mongering, biased news reporting in the USA have brainwashed American society and culture.
  • The scandal of the King of biased and greed based news reporting, Rupert Murdoch and his son James, keeps growing. These “hands on” leaders of  corporate oligarchy stated in front of the British parliament that they accepted NO responsibility and knew nothing about the 4000 hacked emails and police bribes. Involved individuals are popping up all over saying son James knew what everything that was happening.
  • Congress, in a completely manufactured crisis, votes on Ruining the American Economyover the debt ceiling this week (Headline from The Onion).  Many Right wing Republicans who have forced this vote, like real Islamic terrorists or Iran, would love to see our economy shattered/default.  Their main issue – Absolutely never compromise on one penny more of taxes for the corporate oligarchy or wealthy American.

From Paul R in the comments section a must read editorial by Nicholas Kristoff Republicans, Zealots and Our Security

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Congratulations to my wife Joyce and those of you who joined her on finishing the 3 day, 60 mile, Susan G Komen race for the cure of breast cancer in Boston. These exhausted people earned over $4.8 million dollars for  the cause.

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KISS & Stocks

(Keep It Simple Stupid)

If you don’t understand a term look in up at Investopedia.com dictionary

AS ALWAYS, DO YOUR OWN RESEARCH BEFORE INVESTING!

DOUBLE CHECK ALL DATA, I MAKE MORE THAN GRAMMAR MISTAKES

Index Percentage Volume
Dow -0.34% Down
NASDQ +0.86% Down
S&P 500 +0.09% Down
Russell 2000 +0.07% -

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Technicals, Fundamentals & Analysis

One major goal this week –

PROTECT YOUR MONEY/INVESTMENTS

Right now our political structure is simply “the laughingstock of the world” (see Kristoff editorial) and we’ve hurt job creation by focusing on long term debt instead of the clear & present danger of job creation.

For Republicans this is great politics, the more they focus on the debt and not compromising, the greater the uncertainty. The greater the uncertainty the worse both the economic and jobs situation will be. It is to their advantage politiclaly when the economy suffers becuse the 2012 elections are around the corner and they can blame the mess on Obama.

According to perhaps the definitive source of news for the corporate oligarchy CNBC - Debt Deal Will Happen, Even as US Holds World ‘Hostage’: Analysts

Corporations are overflowing with record profits as earning results have shown. Technically bulls are ready to stampede. The Chinese consumer in many eyes is already more important than the American. So what happens here matters less each day.

However, this debt crisis will negatively impact our economy and the world more each day. We may be loosing our dominance, but we are still the big economic Kahuna.

Obama has the 14th Amendment as a last  weapon to forestall a major meltdown.  It’s impossible to accuratly predict the chances of  a default on debt and how big it might be. (5%, 10%, 25% more?)

So, the recommendation is to make sure you have some kind of protection in place in case a 2008 style meltdown happens.

Other Points

  • For Republicans debt crisis is great politics, the more they focus on the debt and not compromising, the greater the uncertainty. The greater the uncertainty the worse both the economic and jobs situation will be. It is to their advantage politiclaly when the economy suffers becuse the 2012 elections are around the corner and they can blame the mess on Obama.
  • Europe restructured Greek debt last Friday. A bailout.

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Thanks to everyone who sent in stocks for YOUR Stock List #5. We have over twenty to choose from and we will probably add a couple of our own.

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See POSITIONS Section of blog for ideas on investing

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Look for an enlightened Paul’s Corner every Tuesday & Thursday and the always informative Comments Section every day.

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Longer Term Outlook

CAUTIOUSLY BULLISH

AS ALWAYS, DO YOUR OWN RESEARCH BEFORE INVESTING

ALL TRADING INVOLVES RISK AND POTENTIAL LOSS OF PRINCIPLE


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