(This one makes me laugh)

Report: Worst is past for economy
THE ASAHI SHIMBUN
2009/6/18

The government on Wednesday effectively declared that the economy has bottomed out, citing signs of recovery in industrial production and exports.
In its monthly economic report for June, the government dropped the word "worsening" for the first time since December in its assessment for the state of the economy.
The report said that while "the economy is in a difficult situation," signs of recovery were apparent in some areas.
It is the second straight month that the government has revised its assessment upward. The report for May had said "the tempo of worsening (of the economy) has become moderate."

(Compare it to Bob Chapman)

The Credit Crisis Is Not Over After 23 Months

Rally of 1931 to haunt the markets this year, SEC hasnt really stopped anything, Fed must find a way to hide toxic assets, bear market not reversible, Currencies deprecate against gold, funding new health insurance initiatives not easy in times of debts, Monetary policy to become inflationary
The next major move in the stock market will be down. We are seeing the last vestiges of a rally similar to what we saw in 1931. The rally we expected at 6600 up to 8500 will end as soon as all the financial institutions that need to sell what stock is necessary to bolster their balance sheets. Our guess is the rally has been aided in a big way by short covering and the participation of the US government. Those who believe the SEC has stopped naked short selling are sadly mistaken. Markets weaken during the summer as volume dries up during the vacation season. In addition, second quarter earnings will be very disappointing, especially in the financial segment. Unemployment continues to worsen and capacity utilization is at its lowest level in years. Banks continue to cut credit lines and not lend nearly as much as they did before. Citigroup’s earnings should turn down again. They won’t have another $2.7 billion gain or another $400 million mark-to-market fictitious gain. Absent those gains they would have lost $2.8 billion. (learn more at )