"You know what the news is-- in a minute, you're going to hear the rest of the story"- Paul Harvey The stock market closed higher yesterday after Merrill Lynch announced it has enough capital to maintain its dividend, and Credit Suisse said that its capital position remained strong despite a $5 billion write-down . Almost on cue a Deutsche Bank analyst predicted that the credit crisis "seems closer to the end." As a result, the financials rallied.

I have a hard time believing that the end of the credit crunch is near, particularly when consumers continue to walk away from real estate, and the new pre-foreclosure manta of "short sales" continues to gain strength. Yesterday's strength was led by financials and technology stocks. The NASDAQ Composite broke out during yesterday's session, but after the close Microsoft reported its third quarter profit fell 11 percent to $4.39 billion which was at the low end of expectations.

The Rest of the Story Here's the real scoop, and theres no denying it, the consumer has collapsed and is suffering a financial coronary. Time is of the essence, and if the government EMT's don't come to the rescue quickly, the patient will die. The problem of course is there are millions of patients, and only a handful of EMT's to help. If you truly look at the big picture (political leanings aside), our nation is on a downward spiral into an economic abyss. You can thank the "New World Order" gang for our economic plight since their intentions are for economic equilibrium. Regardless of who you vote for in the upcoming presidential election, they are all owned by the NWA gang. Here's the skinny. You've heard me talk about NAFTA, but NAFTA is much more than free trade between nations. NAFTA is the great equalizer. Since NAFTA, foreign countries have bleed us dry of decent jobs, and while we shift our wealth to other nations, the standard of living for poor nations rise while our standard of living declines. Its just that simple. To make consumers forget about the millions of jobs lost in the US, the idiots in congress and Bill Clinton repealed the Glass-Steagall Act in 1999, and set a mandate through The Community Reinvestment Act that banks loan money to anyone with a pulse. Banks and lenders (being greedy) went a step further and decided to apply their own version of the Community Reinvestment Act by lending money to people who were not eligible under the act.

When the Federal Reserve lowered interest rates, the trap was set. Americans hocked their financial futures by taking the bait of 100-120% home loans, home equity loans, and opened multiple credit cards that were sent by mail. Being the idiots that they are, consumers didn't have enough financial savvy to know you don't sign up for an Adjustable Rate Mortgage (ARM) when interest rates are at 40 year lows. In addition, some consumers got suckered into "interest only" loans which are for people who can't afford what they're buying in the first place. Lenders, being the crooks that they are, took advantage of idiot consumers by offering Adjustable Rate Mortgages (ARM), and "interest only" loans because they could make more money off of them.

Now consumers are hit with higher mortgage payments, huge credit card debt, high energy and food prices, a decline in wages, higher unemployment, and a currency that is 40 % lower backed by a government that is $9.33 trillion in debt. I don't know about you, but I have a hard time seeing the silver lining in all of this. Now that President Bush is cozying up with Canadian Prime Minister Stephen Harper and President Felipe Calderon of Mexico, the “Security and Prosperity Partnership” (SPP) agreement can proceed according to plan which merges the economies of the United States, Canada and Mexico into one entity. So, how will this all end? What will bring stability to the US currency, drive down energy prices, and bring inflationary pressures down? How about a new currency? Well, why didn't I think of that! Once Americans beginning screaming bloody murder over higher energy costs, etc...they will be ready for anything that will fix the problem. Yes, this even means giving up they sovernity. Everyone laughed when the prospects for a new currency was mention in Europe. Now they have the Euro. In the years to come you'll find that all of the issues we have today were a set up to allow is to move to the new "North American Union" currency called the "Amero". Heven help us, or should I say, God save the king?