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aa2

It appears to me my guys in Japan have won this round. The Yen was rising strongly and starting to hammer the markets. Now it appears the carry trade is back in business, falling yen, skyrocketing markets.

I did the calculations and now the US big 3 auto companies got 52% of the domestic US market.. and the Japanese big 3 got 32%.. all Japanese together have got 36% in October.

Elaine Supkis

Hey, Aa2---you are fast! I am still editing the story here! Heh.

And you are right, by the way.

Frank

The New York Sun today is launching an assault on Sovereign Wealth Funds. The story is on the front page, above the fold. The Sun is a small (14 pages) weekday broadsheet but is one of the flagship outlets for the Neoconservatives and is quite influential. It is where controversies are first ginned up before they go national.

Pols Scramble To Get Ahead of Citigroup
Influence of Foreign Funds Comes Under Microscope

..."We have a sovereign nation, for all intents and purposes, that is coming in to bail out, or to keep alive, an American company that has become synonymous with financial services in this country," Rep. Vito Fossella, a Republican representing Staten Island and parts of Brooklyn, said. "I don't think it's a bright day for the United States."

.."Sovereign wealth funds could potentially distort markets." ...the IMF, with support from the World Bank, should develop best practices. "These would provide guidance to new funds on how to structure themselves, reduce any potential systemic risk, and help demonstrate to critics that sovereign wealth funds can be responsible, constructive participants in the international financial system"...

While some politicians are looking for ways to control the influence of these sovereign funds in America, there is also a growing backlash against those who approved the Abu Dhabi deal, including the Citigroup chairman, Robert Rubin, and Senator Schumer, supported the transaction.

Elaine Supkis

That is a Jewish paper so it is no surprise they are alarmed about SWF.

Big


Again, the NYTimes continues its assault on Venezuela ahead of the referendum.

http://www.nytimes.com/2007/11/30/
business/worldbusiness/30chavez.html?ref=world

The article says that corrupt regimes like Nigeria and Azerbaijan and heeding the call for Venezuela to provide financial transparency to Western officials.

What a bunch of crap.

This is the 4th such article the Times has published to try to destabilize or misrepresent the first attempt at giving the people more power.

The article quotes a senior director at Fitch Ratings..questioning how Venezuela invests its money...the same Fitch ratings which inflated subprime mortgage ratings in the U.S.

The article continues to malign Venezuela for running deficits due to high social spending...I suppose our 9 Trillion dollar military debt is a better use of funds than supporting the poor.

The jist of the article is the Western governments aren't happy that they don't have a Noriega or Pinochet in office to brutalize the people in exchange for Friedmanesque rape and pillage of the countries economy.

The U.S. powers will do everything to keep Venezuela from succeeding because if it does, the rest of Latin America will follow very quickly.


Frank

Big,

The New York Times' Venezuela "reporter", Simon Romero, is pretty much the Times' South American Judith Miller, a shameless purveyor of disinformation:

So You Want to Be a Foreign Correspondent?

Looking for a glamorous new job in an exotic land working for a bigshot international newspaper? It may be easier than you think! Seriously.

As the New York Times’ Simon Romero shows us, all it takes is a good grasp of conventional wisdom, access to the wire services, and a short rolodex of contacts for a couple of pithy new quotes. Oh and a blender! Fruity rum drinks are a must in the tropics...

Big


Thanks for the info on Simon Romero. I love the website.

The other slimy article was written by Jens Erik Gould.

Blunt Force Trauma

Aa2 said....

" did the calculations and now the US big 3 auto companies got 52% of the domestic US market.. and the Japanese big 3 got 32%.. all Japanese together have got 36% in October."

I always have trouble when these types of numbers are tossed around. In that, they don't state the overall sales versus this time last year or last month, etc. They may have sold, say; 50,000 last year and only 25,000 this year. So 52% of that is not so great compared to last year's sales. 52% sounds great, but again, what are the real numbers?

Recap: 52% of what, exactly? Is this a percentage of an overall lousy sales period anyway for all car manufacturers as people are buying less frivolous, big ticket and durable goods as reported?

I need more data and science to these numbers of 52 and 36 percent.

Pete McLaughlin

Elaine
You asked for something to do. Here is one strategy.
Refuse to accept Federal Reserve money in payment of money owed. Accept only US silver coin dated 1964 or earlier.
This has the advantage that you can be paid in the market value of the silver but only have to report the face value for tax purposes.
When the people no longer accept the Federal Reserve money they will automatically end the Fed and US government conspiricy to defraud the citizens of their savings and control of their government.

Don't leave it up to rock stars and Brazilian models to do this hard job.

Thanks for the interesting and prolific reports

Pete McLaughlin

Elaine Supkis

Believe it or not, I have not only pre-1965 money in coin as well as bills, I have old gold certificate dollars that the government made illegal!


2012MIHOP

This is somewhat off topic, but what do you guys think of the AP reports that the administration is planning to make massive cuts in the Homeland Security budget?:
http://news.yahoo.com/s/ap/20071130/ap_on_go_ca_st_pe/security_grants

I have a very conspiratorial worldview, so my gut wants me to believe that this is a first, very early indicator of the false flag operation that is being planned for next years elections.

Then the administration could say, "Oops, we need to redouble our efforts and put all that money back into Homeland Security! Oh, by the way, no elections this year. Or any year for that matter. Go back to sleep America!"

Elaine Supkis

Since when have traitors EVER protected us from anything at all? Maybe they will let Santa crash into someone's chimney.

Al

Big/Frank,
Sounds like a guy I went to school with, Big Frank.
Anyway, Someone recently pointed out that Chavez is being maligned for doing two things that the majority of the American people wish our leaders ( for lack of a better term ) would do. Radically change for the better national health care, and tax the f*ck out of Big Oil. He bartered oil for Cuban medicos/EMT's plus more than doubled oil taxes.

Big

Big = Basic Income Guarantee

Venezuela is an example of what happens when corruption fails the people and 70% live in poverty. They search for a charismatic leader.
In this case, Chavez seems to be a benevolent dictator who is trying to increase freedom rather than restrict it. Of course to do this he has to restrict the freedom to be sociopathic.

A good documentary to watch is "The Corporation" which illustrates sociopathic behavior of companies. Most normal people don't know that companies are chartered and that the charters can be revoked at any time. This should be done more often.

This is what Chavez is doing. The people believe in him to stop the injustices of Western Imperialism and neoliberalism, and are willing to give him he power he needs to carry it out.

When you have a Trillion dollar U.S. war/cia/media deception machine constantly at your throat, you have to be strong or they will walk all over you.

Associated Press just published a piece saying that Chavez will control the assets of two Spanish Banks if the former King of Spain doesn't apologize for telling him to Shut Up.

Somehow I question the truth of this article.

On the oil tax issue, the Venezuelan people were robbed for tens of years by U.S. and foreign oil companies, and by rich insider Venezuelans who are like the "Gollum Sachs" characters Elaine talks about.

Definition of sociopath:
One who lacks a sense of moral responsibility or social conscience.

Big


Another definition:

An entity interested only in their personal needs and desires, without concern for the effects of their behavior on others.

Al

It seems like any threat, however small, to our ruling class just brings out the viciousness. From Pat Robertsons death threats to the AP articles Big mentioned, even dumbass DLC liberals like Kevin Drum who refer to Chavez as a dictator. Makes me feel paranoid. I'm not particularly smart, just well-informed and if I know this stuff why doesn't everybody else ?

RGB

The bottom line with Chavez is Venezuela has oil. The MSM wouldn't give a damn about him otherwise. How much have you heard about Belize? No oil, no news, who cares? Benevolent dictator, let's not start parroting the propagandists. Chavez was elected, beat out a coup with the support of the people and won a recall attempt. Now Bush, that's a dictator, no elections won and over rules the Constitution. As for the extension of the presidential term in Venezuela, some might argue that FDR would still be president of the USA.

aa2

Blunt Force.. you are right with statistics you really have to be specific, which I wasn't very. I look at auto numbers from all the major manufacturers each month. Early next week we should get November's numbers for the US market. I also try to get the sales numbers in other markets like China and Russia, but those are more like quarterly numbers or annual.

The 52% is the percent of the total US auto sales in October. I think there was around 1.3 million units sold in October, so they are looking at about 670k units.

The press usually reports sales growth or decline by comparing the latest month to the same month the year before. Which to me is one statistic but needs to be put in context. For example if the market declined by 5% year over year but a company was down 3%, they actually increased market share. Another issue is the selling days, some media and some companies adjust for number of selling days each month. Which I personally do not like, I like the raw numbers.

Big


Al - The fact that you read Elaine's site proves that you are smarter than the average bear.

RGB - As far as the benevolent dictator comment. I recognize that someone who has been elected, beat referendums, escaped coups, and has popular support cannot in the true sense be called a dictator. My point was that when people are desperate , they choose authoritarian personalities who can be either malevolent or benevolent in the use of their power. The more power they collect, by vote, force, or manipulation, the more important their intent becomes.

The thing about Chavez is that he is collecting power to ENABLE a functional social democracy. An economic democracy, initially funded with Oil, but hopefully over time the Venezuelan communal governments will expand worker owned factories and farms, decreasing the reliance on expensive imports and building a sustainable economy irrespective of the price on oil.

Without oil this could not even be though of, never the less accomplished.

However, I don't believe that oil is the reason that the media is attacking it.

The mainstream U.S. media, not the people attack true democracies because they are tools of propoganda power and thus enrich their owners.

They rely on advertising fueled conspicuous consumption and encourage the indebtedness of our nation.

Our governments attitude is that it MUST be stopped. Because if it suceeds, the TINA argument (There is No Alternative) fails and the sleeping dragon of the American poor/middle class will awake and the status quo of raping the people in the U.S. will fall.

Al

Kind of like when Chomsky talks about the "threat of a good example". While the oil has a lot to do with it, Haiti or Panama or a lot of others didn't have oil but the threat of a good example or the TINA thing can be enough to get an imperial power riled up. I think the oil is used more as a selling point. As I recall hella people justified the Iraq invasion in their own minds by dwelling on the prospect of cheap gas.

Big


Exactly Al,

The powers that be want to make all alternatives to Vulture (Crony) Capitalism equivalent. The 21st Century Socialism that Chavez espouses is more like the Economic Democracy Worker Cooperatives like Mondragon in Spain than top down government control of production.

But...conflating the two, bringing up red-scare propaganda, and then ( I'm predicting) siting increased risk of terrorism ( bring in Iran), will be the next steps.

Once Fidel goes, the U.S. will take Cuba down...which will interrupt the medical programs in Venezuela. Columbia is already a tool of U.S. policy, both on the drug front and military.

The question will be whether the U.S. piggy bank is really broken this time, and China/Russia rise to the occasion. That isn't a panacea, because human rights in China/Russia ( and thanks to Elaine we know Japan as well) are very bad.

The race to the bottom continues.


Elaine Supkis

Venezuela supports CUBA and sells US oil! A double reason to attack, right?

The US has always hated democracy in third world or subject nations. Note how we support Saudi Arabia! It doesn't matter to us who rules, so long as the PEOPLE in various places are kept IN THEIr PLACE which is below our boot heels.

The end of 1984: Winston, just remember, history is a boot stamping on your face.

Al

I don't think we're supposed to talk about this, the US hating democracy in subject nations. It's like not supporting the troops or Israel. or questioning dropping the bombs on Japan. Americans don't like to hear accepted wisdom criticized.

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