What US recovery?

Banking: lending is down which is bad. The FDIC is almost bankrupt. Who will bailout the FDIC?

Consumer confidence: The Conference Board numbers for February is 46 (around 100 is a good number). The present situation subindex fell to 19.4, the lowest level since February 1983.

Employment umbers: still very bad...jobless claims is almost 500,000

housing industry: mortgage applications for home purchases have just fallen to a 13-year low. New home sales in the U.S. fell to the lowest level on record in January. Freddie is still losing tonnes of money all backed by the government



The entire article can be read here:
http://seekingalpha.com/article/190665-recent-stats-indicate-u-s-economic-recovery-was-an-illusion?source=email

US heading towards bankruptcy - shorting opportunity of a lifetime

US Debt including unfunded obligations is around $100 trillion
http://www.usdebtclock.org/
http://brillig.com/debt_clock/faq.html




The Guidotti-Greenspan rule states that reserves should equal short-term external debt (one-year or less maturity)for a country to avoid going bankrupt.

The USdoes not have reserves to pay the financing costs for the enxt 12 months.

The fact of the matter is than anybody who is overleveraged be it an individual, a company or a country (like what happened in Dubai) is at high risk for bankruptcy.

The US is on the tip of a massive collapse. Great fortunes can be made by shorting the DOW/S&P. It's just a matter of time before this situation pans out.

50% US mortgages underwater by 2011

The next wave of declines in the housing market in the US seems ready to unveil.
About half of US mortgages will have negative equity (price of the house less than the amount owed to the bank) by 2011. The entire article can be read here

http://www.reuters.com/article/businessNews/idUSTRE5745JP20090805

The bear market in the USA might be here to stay!