Charting Stocks

Much has been made (mostly by the mainstream media) over the recent rally in the Dow Jones Industrial Average. Many of the usual suspects, including those that have been wrong for the past 3 years, have been quick to call a bottom. We, as technicians, tend to pay little attention to CNBC, Fox Business, etc. [...]

Number 17 for 2009; 42nd Since Depression Began
Freedom Bank of Georgia, Commerce, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Northeast Georgia Bank, Lavonia, Georgia, to assume [...]

The FDIC announced the closing of a third bank today. Illinois based Corn Belt Bank and Trust Company was seized by regulators today. Corn Belt Bank becomes the 12th bank to fail in 2009 and the 37th since the start of the depression.
The bank  had $271.8 million in assets and $234.4 million in deposits. The [...]

What Friday would be complete without a bank failure (or two)?
Federal regulators shut down a bank in Southern California and another in the Atlanta area today, bringing the number of U.S. failures this year to eight in almost as many weeks. This is the 33rd collapse since the depression began.
Federal Deposit Insurance Corp. announced that [...]

The Automotive news reports that the U.S. auto parts industry (suppliers to GM, F) is asking for  $20.5 billion in federal aid to survive the depression.
Neil De Koker, president of the auto supplier lobbying organization has stated that suppliers are asking for $10 billion in direct loans from the U.S. Treasury Department
The US taxpayer has  [...]

2009 will be a year of complete destruction for the US economy. 5 Million will lose their jobs. The Dow Jones Industrial average will break below 6,000. Municipalities will fail. Insurers will fail. The unemployed and foreclosed American population will take to the streets and begin rioting. The Greatest Depression is upon us.
Sound far fetched? [...]

“This is a problem with which Keynes was familiar: giving money away, he pointed out, tends to be met with fewer objections than plans for public investment “which, because they are not wholly wasteful, tend to be judged on strict ‘business’ principles.” What gets lost in such discussions is the key argument for economic stimulus [...]

Kondratieff
Nikolai Kondratieff was a Russian Professor who, after the Russian revolution of 1917, was tasked with developing the “Five year plan” which researched and analyzed factors regarding economic growth for the Soviet’s. Kondratieff published his work in 1926 and because his findings seemed critical of the stated policies of Joseph Stalin, Professor Kondratieff was removed [...]