Stock futures off on Fed fears, ADP looms

MADRID (MarketWatch) — U.S. stock market futures pushed lower on Wednesday ahead of a busy data day, which includes a key employment indicator, a purchasing managers survey and the Federal Reserve’s Beige Book.

Headwinds for investors include another big drop for Japan stocks and more Federal Reserve talk on the need to pare back on easy money, along with prior-day losses for Wall Street.

There also isn’t a lot of talk about the whole thing being a house of cards. I know some of that is because not everyone believes that. But a lot is simply human nature as we’ve seen before. “As long as I’m making money all is good and I’ll get out before it blows.” Good luck.

Finance is an industry and it relies on new money coming in. You are just as likely to hear someone from a large investment house tell you to sell as you are to hear a home builder tell you to rent for a few years.

People do not evacuate theaters based on a general feeling that there may be a fire. They jump and run when they smell smoke. That is why market downturns often take the form of crashes.

I know things that cannot go on forever, don't.

People talk about profits, but they don't talk about growth. There is a difference. If a company makes 10% profits annually and pays a 10% dividend, that is great. But without growth or the prospect for growth, that company's stock is going to be totally stagnant (or it ought to be).

We have a market that has expanded greatly despite no real expectation for growth. People presume that because we have always had periods of growth following downturns, that it must happen this time. However, I think the FED and Obama have effectively killed prospects for growth. The world market is not in a position to pull us up. The giant Keynesian influx has left us a financial basket case, without at all increasing growth. And now we have to pay the bill, without having enjoyed the meal.

Yes, I see a crash coming because I can't create a plausible alternative.

Would you say one of those is coming?

With the same super-genius kleptocrats manipulating the oligarchy, it's not a question of if but simply when they will squeeze another load of fraudulent AAA A$$Paper into the global sewage pipeline --- for further consumption of the fleeced McSheeple.

" Uhhhh, that's not ours either! "

---Weiner, Obama, Perry, Pelosi, Frank, Pritzker and Associates, LLLP.

Follow the....

http://www.campaignmoney.com/finance.asp?type=in&cycle=08&criteria=pritzker&fname=penny

Billionaire business mogul Penny Pritzker is a member of one of America’s richest families and was the Finance Chair for the presidential campaign of Barack Obama. It was Pritzker that led the prolific, and illegal, fundraising that helped power Barack Obama’s presidential campaign. She was the chair of Chicago-based Superior Bank’s board for five years.

Pritzker was into subprime lending before it became all the rage starting in around 2000. Prtizker's chairmanship was to concentrate on sub prime lending, principally on home mortgages, but for a while in subprime auto lending, too, after the Pritzkers' bank acquired its wholesale mortgage organization division, Alliance Funding, in December 1992.

Back then they called it "predatory lending."

Superior Bank went belly up in 2001 with over $1 billion in insured and uninsured deposits; 1,406 depositors lost much of their life savings. This collapse came amid harsh criticism of how Superior’s owners promoted sub-prime home mortgages.

On Nov. 1 [2002] the Federal Deposit Insurance Corp. pointed the finger at Ernst & Young, Superior’s auditor, in a fraud suit filed in federal court here. But that action came two months after a group of Superior depositors accused the bank’s owners and directors, including two members of the Pritzker family, of racketeering....

[snip]

...Pritzker is chairman of Classic Residence by Hyatt, luxury senior living communities in 11 states; chairman of The Parking Spot, which owns and operates off-airport parking facilities in nine cities; chairman of the credit data company TransUnion and chairman of Pritzker Realty. She also sits on the board of Global Hyatt and plays a role in numerous non-profit groups, including serving as chairman of the Olympic village portion of Chicago’s bid to win the 2016 Summer Games.

http://www.theobamafile.com/_associates/PennyPritzker.htm

Nudge nudge nudge...

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