HiSpeed

This chart explains why the U.S. dollar is effectively worthless. "The dollar in your pocket is now entirely backed only by worthless, rapidly devaluing and subsidized housing."

A currency is based on the peoples faith in it. Judging by what's backing the USD, that faith seems to be waning.

Emerson Electric (EMR) CEO David Farr says - pointedly - he will keep focusing on growth overseas: "Washington is doing everything in their manpower, capability, to destroy U.S. manufacturing." The company has eliminated more than 20,000 jobs this year. "What do you think I am going to do? I’m not going to hire anybody in the United States. I’m moving."

With so many CEOs stating similar, why on earth does anyone support these worthless Socialists in Washington?!?!

Whatever happens on the upside, gold won't fall below $1,000/ounce again, says Marc Faber of Gloom, Boom & Doom Report: "Central banks are all the same. They are printers. Gold is maybe cheaper today than in 2001, given the interest rates." Gold now +1% to $1,113.80.

The USD is due for quite a bear market rally-move imo. At such time, the stock market will dip, and gold will likely fall below 1k.

In a brief reaction to a "sobering" jobs report, President Obama said he's examining new measures to spur growth and ran off a list of five: road/bridge investment, energy retrofitting, additional tax cuts for businesses to create jobs, boosting credit to small businesses and support for exporters.

How about "abandoning socialist ambitions"?

More from Geithner - no more AIGs: "Any firm that puts itself in a position where it cannot survive without special assistance from the government must face the consequences of failure. The proposed resolution authority would not authorize the government to provide open-bank assistance to any failing firm."

The large banks need broken up similar to the way the oil industry was decades ago

Lagging Segments of the Market Tell a Good Deal About the Economy

It seems to me that the market in general has merely become another commodity play on the US Dollar, much like the rest of commodities. When the Dollar weakens, we rally; and vice versa.

Allan Meltzer in today's WSJ: "History gives many examples of countries with high actual and expected money growth, unsustainable budget deficits, and a currency expected to depreciate. Unless these countries made massive policy changes, they ended in crisis. We will escape only if we act forcefully and soon."

Obamanomics seems to embrace protectionism and higher taxes-both major causes of the 1930s great depression

Commodity Futures Trading Commission chief Gary Gensler wants derivatives bills to be improved by pushing more transactions through clearinghouses - not regulating capital or business conduct. "If a large swap dealer gets into trouble, it’s not pulling and tugging at thousands of others in the system, that’s the benefit."

Seems to me that is it common sense to have transactions done through clearinghouses since a lack of such was a contributor to the financial crises. This would also increase transparency.

It's not entirely clear why Roubini's comments in Istanbul are getting so much play this morning, but here goes: "I see the risk of a correction, especially when the markets now realize that the recovery is not rapid and V-shaped, but more like U- shaped."

Seems more like an "L" to me - consumers aren't going to be able to use homes as ATMs. A new normal is forming, imo.

"Floor traffic was lousy all month. Every brand, every region of the country - it was a real post-clunker hangover. It was disappointing. I expected the month to be a bit stronger, but it just wasn't." - Mark LaNeve, GM's VP of U.S. sales, after yesterday's weak September sales data

He sounds like an idiot!

Who was left to buy after C4C? Duh!

NAPM Chicago Business Barometer: Business activity in the U.S. Midwest failed to return to growth in September, with ISM's business barometer dropping unexpectedly to 46.1 vs. consensus of 52 after an even 50 (above 50 indicates growth) in August. New orders dipped to 46.3 from 52.5.

"Recession over" is gonna be the punchline to quite a few jokes in the future, I'm afraid

A 22-year-old man has received 15 months in prison and must pay back $200,073 after trying to open more than 58,000 accounts with E-Trade (ETFC), Charles Schwab (SCHW) and Google (GOOG) in the names of characters from the King of the Hill TV show (among others). The scheme was to steal the "micro-deposits," from 1 cent to $2, that firms make to test account functionality.

Reminds me of what Richard Pryor's character did in Superman III.

And Wall Street layoffs drive New York City's unemployment rate to 10.3%, vs. the national rate of 9.7%. State Labor Commissioner M. Patricia Smith: "Our economists don’t see the financial-services sector ever coming back as strong as it was."

There are plenty of ways for Wall Street to make money without collateralizing crap and selling it to widows and orphans. Those who cannot do so deserve to go out of business.

"We decorated it in the style that Merrill Lynch offices were, which was very, very nice ... That was a mistake, and I’m sorry that I did that. If I had that to do over again, I’d furnish it in Ikea." - John Thain, former Merrill Lynch (BAC) CEO, who spent $1.2M in office redecorations in the midst of the crisis. (He says he has reimbursed the company.)

$1.2M for Thain is what, 2-3 hours of work considering what he used to "earn"?

Some are taking the Lehman collapse anniversary as a time to go super-bullish. The Dow returning to 14,000, Jon Markman? "In three years? Not a problem. The signs are abundant, if you know where to look: in the corporate credit markets, in employment trends, in consumer credit trends, in government statements and in corporate revenue trends."

For now, the trend is up.....

until it isn't