FT.com / US / Economy & Fed - US state pensions becoming federal issue

FT.com / US / Economy & Fed - US state pensions becoming federal issue
Harsh choices are coming.

Horrendous Close Already Has Investors Worried About A Friday Massacre

Horrendous Close Already Has Investors Worried About A Friday Massacre
As I wrote, the flash crash was not a error. It is people leaving the markets. 3 more points down to confirm.

To Greece: Nut Up Or Shut Up

To Greece: Nut Up Or Shut Up - The Market Ticker ®

CalPERS plans to seek $700 million more from state, school districts - latimes.com

CalPERS plans to seek $700 million more from state, school districts - latimes.com
You only to read this to see why CA is so screwed.

CalPERS doesn't need to ask lawmakers or the governor for permission to raise contributions. State law has long given the fund's board unilateral authority to authorize increases, which were set by others, but a 1992 voter-approved initiative gave the board the power to determine the amount of the increases.

Futures Down, Markets Tank Around The World, Euro Ready To Break $1.21

Futures Down, Markets Tank Around The World, Euro Ready To Break $1.21
Some one in Germany must have gone crazy. Continued Bickering will only undermine the Situation. Euro Target now parity with the dollar :)

Conspiracy of Banks Rigging States Came With Crash (Update1) - Bloomberg.com

Conspiracy of Banks Rigging States Came With Crash (Update1) - Bloomberg.com
Once again where are the bankers being lead off in hand cuffs?

Dow Theorist Richard Russell: Sell Everything Liquid, You Won't Recognize America By The End Of The Year

Dow Theorist Richard Russell: Sell Everything Liquid, You Won't Recognize America By The End Of The Year
And people say I am negative :)

FDIC Bank Failures (5.15.10)

FDIC Bank Failures (5.15.10) | The Big Picture
The beat is increasing.

These is how a Bank run starts

http://www.bloomberg.com/apps/news?pid=20601087&sid=aH4XJoV4TE4w&pos=5
And how a crash is allowed to happen.

May 4th

I invite you to look at my May 4th post again. Once again we are in a crash but it is being masked by modern trading vehicles. If you think anyone with any long term goals is in the market you be crazy and if they are they are not buying. I would imaging we are somewhere several points thousands points lower if not for the HFT programs keeping us up. I would be very careful as I now give it a 75% chance of a major plunge.
With it looking likely we see more issues around PIIGS and the likely double dip in the USA and Illinois looking like it might Bankrupt it major supplies. Not also counting the Oil Spill in the Gulf may be the worse natural disaster of all times.

Don't bet against PIMCO

http://www.businessinsider.com/serious-question-is-pimco-trying-to-freak-out-the-euro-bond-market-2010-5

In short the control of the bonds is much more important then control of the stocks. If you cant borrow you can be force to cut spending. If you think this will be limited to Greece think again. On top of this several states, ILL and CA in particular, are on the edge of disaster. Prepare for riots in these stares as things become ugly.