Some quite refreshing international views seen in this video:

Gap, Bed Bath and Beyond and other company executive insiders are selling their stocks not buying them now.

Apparently when Goldman Sachs puts a company on their conviction buy list it may be a good time to sell them short. Here is the evidence.

Gerald Celente, Founder & Director of Trends Research Institute,
is predicting disasters ahead in this fascinating interview from Financial Sense NewsHour with Jim Puplava:

Note that the interview ends about 23 minutes into the above audio clip.

An important film with regard to truth was released today, Core of Corruption:

Elliot Spitzer has his eye on the prize. In this article he asks the real questions that must be answered to get to the bottom of this economic fiasco. To find the truth we, as usual, need to follow the money.

My first post of this blog on Monday, October 20th, 2008 predicted s&p at 600. We are now less than 80 points away.

The following charts shows that the current market downtrend exceeds the losses (thus far) of the stock market crash of (1929) the great depression:

Jon Stewart’s Daily Show also has a very funny and informative piece about CNBC (or CNBS as some refer to it). For the most part I tend to pretty much go by the philosophy that CNBC is a contrary indicator. Whatever they say to do, do the opposite.

One thing I should mention is that Santelli was against the bailouts for wall street also. Most MSM commentators seem to miss this.

It may be time to think about using your mattress instead of trusting bankers. More at raw story.

Also today the FDIC is requesting new funding. The chairman of the Senate Banking Committee, Dodd, plans to introduce a measure that will  raise the borrowing authority to a permanent level of $100 billion and temporarily increase it to $500 billion through Dec. 31, 2010. The FDIC is borrowing tax payer money to cover the banks losses of the tax payers.

Click on chart to zoom in.

Bloomberg says about AIG:

“The insurer made $18.7 billion in payments tied to swaps in the three weeks after AIG’s Sept. 16 bailout, according to another person familiar with the situation. The largest recipients were Societe Generale SA, which got $4.83 billion, Goldman Sachs Group Inc. with $2.97 billion, Deutsche Bank AG with $2.92 billion, Calyon Securities with $1.89 billion and Merrill Lynch & Co. with $1.32 billion, the person said.”

Karl Denninger has a concise wrap up of this on his page.