The rich in Greece are moving their money out of the country by the bil­lions. Do they know some­thing that we don’t know?  Obama’s Pres­i­den­tial Approval Index has tied its recent low of –21 and looks to be going lower still. Gold & silver’s sharp decline may act like a boat anchor on stocks.

Is Obama insane to call for a major “summit on entre­pre­neur­ship” with the Islamic world? The Fed is ready to start “draining the excess” liq­uidity from the credit mar­kets. The FDIC will start to auc­tion seized mort­gage assets and that could poten­tially put a lot more small banks at risk to fail. The market con­tinues to look tired and ready to fall.

By Patrick Wood, Editor
Economy
Ellen Brown, author of Web of Debt, just wrote “IMF ‘Eco­nomic Med­i­cine’ Comes to America.” It doesn’t talk about the IMF as much as it does about the red her­rings of the Admin­is­tra­tion and the Fed. What caught my eye was an

Why are the global elite talking about a doomed economy? Both Stiglitz and Peterson are talking about Great Depres­sion II. Are they hoping for it or trying to foment it? The market is tired and looking for a reason to turn down.

The impli­ca­tions for a global Tech­no­cratic coup are immense. While we try to figure it out, we will con­tinue to sur­vive with the cur­rent eco­nomic system.  Sen. Jay Rock­e­feller, nephew of David Rock­e­feller, is jock­eying leg­is­la­tion that will give the Pres­i­dent emer­gency powers over the Internet. The market is in process of top­ping and should soon resume its down­ward trek.

The FDIC trou­bled bank list grew 27 per­cent in Q4 2009. Existing home sales dropped 7.2 per­cent in Jan­uary. The under­em­ployed rate is almost 20 per­cent with many under­water. The market is in the process of rolling over and should accel­erate into wave 3 down in coming days.

New home sales for Jan­uary hit a record low while 25 per­cent of all mort­gages are under­water. Bernanke says budget deficits are not sus­tain­able but offers no solu­tion. Greece is exposing cracks in the EU and putting intense pres­sure on the Euro. Odds of a double-dip reces­sion are increasing. Stocks are wearing thin and about to rollover to the downside.

When can a bailout a sink­hole? Which comes first, jobs or eco­nomic recovery? It’s a catch-22 sit­u­a­tion that is becoming a sink­hole. Rahm Emanual declares that Exec­u­tive Orders are being pre­pared for Obama to sign as an end-run around Con­gress and the Con­sti­tu­tion: “So let it be written, so let it be done!” The market is extended, over­bought and ripe for a turn.

The Fed is imple­menting its pro­gram to “drain” $1 tril­lion or so out of the exces­sive liq­uidity it has cre­ated over the last 18 months. Greece is on the precipice of a total melt­down, both finan­cially and socially. The market is close to com­pleting its counter-trend rally, if it hasn’t done so already.

Your editor will host The Roth Show today and Friday. The social cost of a foolish gov­ern­ment is stag­gering with tens of thou­sands of fam­i­lies living on the streets in poverty and des­ti­tu­tion. There will be a dra­matic cut­back in the number of brand choices avail­able to you in the future as stores try to cap­ture your spending and still make a profit. The market remains in a counter-trend bounce, but the next turn will be down.