The New U.S. Bill of Rights and Two Charts (June 22, 2009)
To fully reflect current "inalienable rights," a New Bill of Rights should be added to the U.S. Constitution.
Given the mindsets which dominate American culture, a New Bill of Rights should be added to the U.S. Constitution to reflect our additional "inalienable rights." While the original United States Bill of Rights addressed basic liberties, it simply doesn't cover various financial and global rights which are now implicit in 21st century America.
Here are my proposed New Rights:
Amendment One: The Right to Global Empire
Amendment Two: The Right to Global Hypocrisy
Amendment Three: The Right to Borrow From Other Nations
Amendment Four: The Right to Cheap Goods
Amendment Five: The Right to Rising Real Estate
Amendment Six: The Right to a Fiat Currency Which Does Not Fall to Zero
Amendment Seven: The Right to Bomb Others and Be Welcomed as Saviors
Amendment Eight: The Right to Unlimited Hubris
Amendment Nine: The Right to a Permanent State of Denial
Amendment Ten: The Right to a Magic Pill
I may have missed a few "rights," but hey, this is only a draft.
For a longer-term context, here is a chart published earlier this year of the period 1960 to March 2009, courtesy of frequent contributor Harun I. Note that the current "green shoots" rally went right up to the 38.2% fibonacci projection at 8,800 and turned over.
Also note that the first target on the downside is the 50% fibo at around 7,100; the next stop, the 61.8% fibo, just so happens to roughly align with a long-term trend line at around 5,800.
Below that, 4,000 beckons.
I started the year by suggesting the DJIA could bounce back to the 9,700 level, or perhaps even the 10,700 level (the 23.6% fibo on this chart) which would have formed the right shoulder of a massive head and shoulders formation.
Maybe after we finally hit bottom the market will surge to 10,700, but such a surge is not visible in the present tea leaves, at least to me.
Please read the HUGE GIANT BIG FAT DISCLAIMER below; this is not investment
advice, it is only the freely offered wanderings and musings of an amateur chartist.
"This guy is THE leading visionary on reality.
He routinely discusses things which no one else has talked about, yet,
turn out to be quite relevant months later."
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