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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?


To: deathandtaxes who wrote (88563)6/29/2002 9:37:08 PM
From: Les H  Read Replies (1) | Respond to of 99280
 
Annual Revision Scheduled for July 31

The GDP news release on July 31 will present the regular annual revision of the
national income and product accounts, covering the estimates from the first
quarter of 1999 through the first quarter of 2002, as well as the advance
estimates for the second quarter of 2002. The revision will incorporate source
data that are more complete, more detailed, and otherwise more appropriate than
those previously available and will introduce refinements to estimating
methodologies.

The newly incorporated source data will include the following: Census Bureau
monthly survey of construction and annual surveys of manufactures, of merchant
wholesale and retail trade, of services, and of state and local governments; BEA
international transactions accounts data; federal government budget data; Internal
Revenue Service tabulations of tax returns for corporations and for sole
proprietorships and partnerships; Bureau of Labor Statistics tabulations of wages
and salaries of employees covered by state unemployment insurance; and
Department of Agriculture farm statistics.

Among the refinements to estimating methodologies are the following:

o A newly available producer price index for security brokers from the Bureau
of Labor Statistics (BLS) will be incorporated into the estimates of brokerage
services within personal consumption expenditures and exports.

o A new revision schedule will be introduced for the estimates of wages and
salaries. Under the new schedule, more comprehensive BLS quarterly
source data will be incorporated into the wage and salary estimates
approximately 6 months after the end of the reference quarter.

Even the federal govt reports pro forma

Corporate Profits (revised): Profits from current production increased 0.7 percent (quarterly rate) in the first quarter, 0.2-percentage point more than in the preliminary estimate, after increasing 17.9 percent in the fourth quarter of 2001. First-quarter profits were 4.8 percent higher than one year earlier. The current-production measure of profits differs from profits as they are reported in corporate financial statements. It excludes certain non-operating items, such as special charges and capital gains and losses, and it values depreciation of fixed assets and inventory withdrawals at current cost, rather than at historical cost.



To: deathandtaxes who wrote (88563)6/29/2002 10:30:56 PM
From: Smart_Money  Respond to of 99280
 
So the government too restating prior years. hehehe



To: deathandtaxes who wrote (88563)6/29/2002 11:59:09 PM
From: Secret_Agent_Man  Read Replies (1) | Respond to of 99280
 
In Washington we have the Bush enemy of the week. Sponsors of terrorism Iran, Iraq and North Korea yet the 9/11 terrorists were Saudis, so why didn’t we bomb Saudi Arabia or at least invade them? John Walker Lindh is getting a jury trial, while other al-Qaida prisoners waste away in permanent imprisonment in Cuba, very strange. And, since when did our government take prisoners and put them away forever? The exception being Rudolph Hess, who they couldn’t let out. He was an emissary of Hitler who wanted to stop the war, but Churchill and Roosevelt had no interest in ending hostilities. They had a depression on their hands. Thus, another 30 million poor souls last their lives. There is no declared war. We only have Napoleon Bush’s war. As he tells us perpetual war for perpetual peace. In the meantime, we lose all our civil liberties. After the next prearranged terrorist attack they’ll try to find an excuse to attempt to take our weapons and anyone who disagrees with the government will be picked up by the Fatherland Security, our new Gestapo. There will be no end to government demands in the name of anti-terrorism.

Every day our elitist Secretary of the Treasury Paul O’Neill tells us the dollar is solid because of productivity gains and the dollar drops further. Just ignore the facts because we are in another “new economy” and yes, where is Goldilocks? Over and over Mr. O’Neill says the dollar is not in a weakening trend, yet he tells us we are facing a debt crisis. Which is it? While all these horrible things take place Congress and the President spend like there is no tomorrow. If the debt limit isn’t raised in July there will be no checks dispersed from the already looted Social Security Trust, Veteran’s benefits and Civil Service pensions. George W. Bush is a spending disaster. He’s out liberaled the liberals. Alan Greenspan is not without blame. It is he who created the bubble. No matter what they do we are headed toward depression and that includes printing mountains of money.

The stock market, currencies, interest rates, commodities and particularly gold and silver markets are all being manipulated by the US government. This is what a fascist state is all about. Government by regulation. In the ‘we won’t take it any more vein’, 28 cattle associations have demanded an investigation of the rigging of cattle prices, the present price collapse and the irrational functioning of the cattle market. These are the lowest prices since the 1998 crash, yet consumers are paying near record retail beef prices. Since 1994 the producer’s share of the retail beef dollar has been 46% down from 60% previously. This is the cumulative result of several factors, supplies, and a highly concentrated packing sector; increased buying power from both the wholesale and retail levels and the impact of free trade and the government interdiction in the futures market. Essentially beef packers have a monopoly.

US antitrust officials are investigating whether semi-conductor makers manipulated prices in the $11.9 billion memory-chip market. Micron, Samsung and Infinien are the first three batters up. They control 60% of sales.

The US has asked the UN Secretary Council to provide immunity for all people taking part in the UN peacekeeping operations. A move aimed at protecting Americans from prosecution by the world’s first permanent war crimes tribunal. If the US doesn’t get a blanket exemption they will not take part in the UN peacekeeping missions.

Word reaches us that German Ambassador Ischinger personally notified George W. Bush, President of the United States, that information developed by the German Secret Service and other secret agencies indicated that an attack by a radical Arab group partially based in Germany was to occur on 9/11. When Mr. Bush received the intelligence he said he was also aware of the same pending assaults. The Germans were told to keep their mouths shut. Overall, it is very evident that the American authorities were aware of the pending attacks. The Federal Republic’s warning of 8/6/01 was specific as to date, time and place of attacks. In addition, Mr. Putin, President of Russia warned of the pending attacks. That was in mid-August. On 8/20/01, the French government issued a more specific warning. They specified the exact date, time and place of the attacks. The Israeli government, via the Mossad also warned of the attacks. This all correlates with what we published nine months before the attacks. We were off by just 33 days, but we did not know what the targets were. President Bush should be impeached and then tried for treason.

The stock market has lost over $6 trillion since March 2000. The question is who is to blame? Well, there is plenty to go around. First we have the greedy investor who believed it would go on forever. Then the stockbrokers, most of whom made little effort to extricate their clients and their inability to play the short side of the market. Then we have the major brokerage houses and their investment banking agreements and their lying analysts. Then we can throw in their trading departments, which couldn’t restrain themselves from front-running client orders. Collectively they rigged the markets. Now each day we have another scandal. Corporate fraud, theft, fraudulent accounting, illegal and unethical trading by insiders and lying about company developments. Of course, if a major corporations’ stock was up the SEC doesn’t investigate because they are part of the brotherhood. But you have a stock run from 20 cents to $1.00 and they come down on the hapless little company like a ton of bricks. The wealthy played the small investors for suckers. Finding the guilty does nothing for the injured investor because almost all the fines go to governmental entities and no one ever goes to jail. The real keys were CNBS’s unbelievably biased coverage. It’s cheerleader format. The propaganda and brainwashing. Next come the major Wall Street firms, their incestuous relationship with investment banking clients and their analysts who never saw a stock they wanted to sell. No matter how outrageous overpriced, the mantra was buy, buy, buy. Finally, when apprehended all they received were paltry fines and no one went to jail. The patsies got taken again. Only 2.8% of analysts, strategists, economists and newsletter writers got out at the top and we are happy to say we were one of them. This was not a case of the sophisticated insiders getting out. It was the case of the crooks versus the public. The speculative culture was fed by greed but the real underlying factor was the total profligacy of the Federal Reserve. They made it all happen. They supplied the tidal wave of money, endless amounts. They created the mania; CNBC and Wall Street refined it into propaganda. The current backlash is totally justified, but where was the SEC, NASD and state regulators? They were incompetently asleep at the switch chasing small companies, small brokerage houses and small brokers out of business and they are still doing it. Attacking those who don’t have the cash to defend themselves. Wall Street owns the regulators and the FED owns and controls Wall Street. A perfect case of incest. The FED is responsible. The FED is at the very heart of the elitist conspiracy and until the public realizes it they’ll continually get financially raped.