Human sacrifice, dogs and cats living together... mass dollar hysteria!

The value of the U.S. dollar continues to plummet faster than Michael Moore getting shoved out of a C-130.

Gold now at $1,185. What happens when the DXY [U.S. dollar] hits 70 in a few days?

And the diagonal, soon to be vertical channel:

DXY at 70?

As the dollar hemorrhages value, Ben Bernanke's outstanding record as a financial Nostradumas continues to inspire confidence.

I was struck with Bernanke’s comment last week at the Economics Club regarding bubbles. He said:

"It is not obvious to me that there are any misalignments in the US financial system."

This comment has already gotten the attention of the media. Two years from now the blogs will be quoting it along with other notable words from the Chairman. Remember the following? Mr. Bernanke regrets having said this.

"We (the Fed) do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system."

When Mr. Bernanke made those comments back in May of 2007 he was either misrepresenting the facts or he simply could not see the implications of the facts that were in front of him. I don’t think he was fibbing to us then. He called it as he saw it. He simply had no clue what the pieces meant. I am concerned that he is equally out of touch today.

How could Mr. Bernanke not see that zero interest rates are a misalignment?

Bruce Krasting goes on to suggest that the time of reckoning is near.

You can’t ask for a better example of the market’s attitude towards America’s monetary stance. It is starting to get downright hostile.

It would be a kick in the pants to the entire financial system if the price of gold started to have a meaningful impact on monetary policy. I think that is exactly what is going to happen. It is just going to take a while. Bernanke continues to believe that nothing is misaligned. We are going to wake up and find out that things are horribly misaligned.

Don't cross the streams, Ben!

Oops.

Too late.

Nominations for 2009 Economic Prediction o' the Year

The nominations for the economic prediction of 2009 are in. But, first, a bit of background:

Friday’s unemployment report from the Bureau of Labor and Statistics is anything but a green shoot. The official U-3 unemployment number is 10.2%. The broader and more comprehensive official unemployment number, the U-6, is at 17.5%. The U-6 counts all the people that want a job but gave up, all the people with part-time jobs that want a full-time job, and all the people who dropped off unemployment benefits because their unemployment benefits ran out. John Williams at Shadowstats.com suggests that real unemployment is actually running at 22%, which, by our calculation, is approaching Great Depression unemployment numbers... The unemployment report may come as a surprise to those who have been following the Obama administration and mainstream economists like Paul Krugman.

Just an interesting anecdote: Krugman's nickname is Marxie the Mouthpiece (and I hear that's the appellation he prefers). So, without further ado, the nominees are:

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Barack Obama, describing the effects of the Stimulus (2/13/09): "That’s a story I’m confident will be repeated at companies across the country — companies that are currently struggling to borrow money selling their products, struggling to make payroll, but could find themselves in a different position when we start implementing the plan... Rather than downsizing, they may be able to start growing again. Rather than cutting jobs, they may be able to create them again."

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David Axelrod, predicting unemployment rates (2/15/09): "There’s no doubt that without it [the stimulus], that’s where we were looking: double-digit unemployment. That’s what we’re trying to forestall."

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Paul Krugman, the second dumbest Nobel winner in history after Al Gore (1/21/09): "I'm looking for the unemployment rate. I want to see the unemployment rate stay safely below 10 percent, which is by no means a foregone conclusion. And I want to see it coming down notably next year."

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Ben Bernanke, predicting unemployment (5/5/09): "Currently, we don’t think it will get to 10 percent. Our current number is somewhere in the 9s."

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If the results of their failed experiments weren't so devastating, I'd be tempted to laugh. As it is, most of us feel like weeping.

Some call him Obama

But you can just call him Nostradumas. Consider this statement:

I don't think 15,000 or 20,000 more troops is going to make a difference in Iraq and in Baghdad." He also said he saw "no evidence that additional American troops would change the behavior of Iraqi sectarian politicians and make them start reining in violence by members of their religious groups.

-- Barack Obama, January 8, 2007

Let me see if I understand. A failed "community organizer" -- with no experience -- wants to be President of the United States? And he has a really, really bad track record of strategic predictions? Plus... he has avoided any and all controversial decisions?

Riiiiiiiiiiiight.

Via: Eye on the World

Jeremiah Wright: Back to the Future

Of Pastor Jeremiah Wright, the New York Times wrote:

Mr. Wright, who has long prided himself on criticizing the establishment, said he knew that he may not play well in Mr. Obama's audition for the ultimate establishment job.

"If Barack gets past the primary, he might have to publicly distance himself from me," Mr. Wright said with a shrug. "I said it to Barack personally, and he said yeah, that might have to happen."

That was exactly one year ago yesterday. That's why some folks call him "Nostradumas" Wright.

Hat tip: Larwyn

Scene from the future: outside the 2009 Inaugural Ball

Just call me Nostradumas.

Tomorrow's New York Times Today!

 
It's a gift. I can sometimes see the future, especially as it pertains to America's Pravda. It's a blessing and a curse.


The only thing that remains fuzzy: whether the font size for Libby's sentencing will be bigger than the headline on 9/12/01.

Ted Kennedy, latter-day Nostradumass

 
The National Review introduces evidence of Ted Kennedy's formidable prognosticative powers (and, no, I don't care if it's a word or not).

1965: "The bill will not flood our cities with immigrants. It will not upset the ethnic mix of our society. It will not relax the standards of admission. It will not cause American workers to lose their jobs." Prepare to repel boarders! 1986: "This amnesty will give citizenship to only 1.1 to 1.3 million illegal aliens. We will secure the borders henceforth. We will never again bring forward another amnesty bill like this." 2007: "Now it is time for action. 2007 is the year we must fix our broken system."

Now, that's believable!

Hat tip: Gateway Pundit

Prediction o' the Day: the MSM and Mitt Romney

 
Feel free to call me Nostradumas, but my prediction of the day is as obvious as the average price at the Dollar Store:

If Mitt Romney is the Republican nominee, watch for a concerted attack on the Mormon religion by the mainstream media. I'll predict here and now a 20-20 "exposé" of the Church by Brian Ross; a series of anti-Mormon op-eds by Maureen Dowd and Frank Rich; a bizarre series of rants by Joy Behar on The View; and a movie by Michael Moore ("Joseph Smith and me").

Years after the general election, it will turn out that Hillary Clinton's attack machine orchestrated the entire onslaught of negative media coverage.

Go figure.