Some realy amazing misinformation or rather lies from many officials

If one needs the news these days the same old lying and misinformation campaigns are carried out- which need to be stopped somehow. But lets start within the good part first as I mentioned in earlier post Obama will announce a humongous stimulus plan soon which will be partly the reason for a huge sucker rally but do not make a mistake as he already makes promises he cannot keep and others he already broke (the people he hires for his administration are one big disappointment so far). This huge aid program will kick off a rally end Dec or early Jan which will be substantial and very likely mistaken as having saved the day.

Excerpt CNBC
Citigroup Talks, But Nothing ‘Walks’ To Stabilize
By Charlie Gasparino, On-Air Editor | 22 Nov 2008 | 04:25 PM ET function UpdateTimeStamp(pdt) { var n = document.getElementById(“udtD”); if(pdt != ” && n && window.DateTime) { var dt = new DateTime(); pdt = dt.T2D(pdt); if(dt.GetTZ(pdt)) {n.innerHTML = dt.D2S(pdt,((”.toLowerCase()==’false’)?false:true));} } } UpdateTimeStamp(‘633629859353970000’);

Officials from Citigroup

CITIGROUP INC
C
3.77 -0.94 -19.96%
NYSE

cnbc_comboQuoteMove(‘popup_c_ID0ECJAC15839609’);[C 3.77 -0.94 (-19.96%) ] cnbc_quoteComponent_init_getData(“c”,”WSODQ_COMPONENT_C_ID0ECJAC15839609″,”WSODQ”,”true”,”ID0ECJAC15839609″,”off”,”false”,”inLineQuote”); and government officials continue to discuss ways to stabilize the company’s stock price over the weekend but have yet to come up with a plan to install confidence into the firm that has seen its shares battered into penny-stock territory and raising the prospect of a government bailout, people close to the firm say.

As of Saturday afternoon, the general consensus between officials from Citi and government officials from the US Treasury department and US Federal Reserve is that the government will not takeover Citigroup in the way it took control of AIG—by lending the firm massive amounts of money and in return assuming a huge equity position.

Government officials fear taking over Citigroup would create a precedent: Unlike AIG, Citigroup’s balance sheet is relatively healthy, with relatively strong levels of capital particularly compared to most of its competitors.

That Citi has a healthier balance ‘cheat’ compared to other competitors is frankly a lie and bullshitting people. No Idea what game the Treasury (Paulson) are playing again but after Lehman it is obvious even to not Harvard trained morons what will be the result of playing it down again – Citi is bankrupt basically and has hundreds of billions of losses ( easy around 150 but rather over 200) and every day it gets worse. They have to bail them out or the markets crash another 20-30% that is something Paulson should know but as he plays still for Goldman he might act with different motives. He needed to be fired months ago -* actually to hire him was an enormous mistake (but that was done deliberately).

Obama Warns On Economy: Works On Stimulus Plan

From Reuters | 22 Nov 2008 | 10:48 AM ET function UpdateTimeStamp(pdt) { var n = document.getElementById(“udtD”); if(pdt != ” && n && window.DateTime) { var dt = new DateTime(); pdt = dt.T2D(pdt); if(dt.GetTZ(pdt)) {n.innerHTML = dt.D2S(pdt,((”.toLowerCase()==’false’)?false:true));} } } UpdateTimeStamp(‘633629657300070000’);

setDefault(‘cnbc_textbody’);

Barack Obama
CNBC.com
Barack Obama

U.S. President-elect Barack Obama said Saturday that he was crafting an aggressive two-year stimulus plan to revive the troubled economy, warning that swift action was needed to prevent a deep slump and a spiral of falling prices.

“If we don’t act swiftly and boldly, most experts now believe that we could lose millions of jobs next year,” the Democratic president-elect said in a weekly radio address.

Obama, who succeeds President George W. Bush on Jan. 20, said the economy could get worse before it gets better. “We now risk falling into a deflationary spiral that could increase our massive debt even further,” he said.

Obama said the plan would aim to save or create 2.5 million jobs by January 2011 and would be “big enough to meet the challenges we face.” Any additional jobs would offset what is expected to be a dismal employment picture in the near future.

I agree with Marc Faber is one of the few guys to speaks the truth.

Excerpt CNBC
Strong Rebound Coming in Next 3 Months: Dr. Doom

CNBC.com | 21 Nov 2008 | 03:31 AM ET function UpdateTimeStamp(pdt) { var n = document.getElementById(“udtD”); if(pdt != ” && n && window.DateTime) { var dt = new DateTime(); pdt = dt.T2D(pdt); if(dt.GetTZ(pdt)) {n.innerHTML = dt.D2S(pdt,((”.toLowerCase()==’false’)?false:true));} } } UpdateTimeStamp(‘633628530838200000’);

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The sheer amount of money governments are pumping into the financial system will eventually lead to a very strong rally in beaten-down assets, investor Marc Faber said on CNBC Friday.

Photo: Oliver P. Quillia for CNBC.com

But Faber also warned that if the markets remain depressed as liquidity increases the result could be a depression worse than in 1929. (Watch the video of Faber’s appearance.)

By and large asset markets are “terribly oversold” now, while investors are going overboard into the U.S. dollar and U.S. Treasurys, Faber, editor of the Gloom, Boom & Doom Report, told “Squawk Box Europe.”

“What you could see in the next three months is a very strong rebound in asset markets, in equities, followed by a selloff in bonds and eventually a selloff in the dollar,” he said.

Governments and central banks around the world are providing liquidity and that will eventually have an impact, Faber said.

And once the buying starts the rally is likely to be “stronger than people expect” given that financial institutions are sitting on so much cash, he added.

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~ by behindthematrix on November 23, 2008.

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