The Narrative

I have to be honest, I am still flammable angry about the Patriots game yesterday. This is year 4 of a horrendous pass defense. I wrote plenty last year asking serious questions about coach Bill Belichick's ability to run a defense. I am still wondering.

At least I get to see a real team, the New Orleans Saints, play tonight. The Bayou Boys love being on Monday Night Football so good luck to the 49ers.

The Narrative
It started with Tim Geithner's "Welcome to the Recovery" Op-Ed and has now included a sort of victory lap by the President on CNBC. The all clear has been signaled and while various things are still very wrong, those things simply do not matter anymore.

Now I do not think things are really all that great, but the underlying belief right now is that the FED/Treasury has the back of the big boys. They always have, but never so openly. I would wonder what is going to happen should all those reserves get flowing.

Case in point? The developing story about mortgage fraud is a real monster. Yves Smith has been on top of this along with several other writers. For reference:
GMAC Stops Foreclosures in 23 States
More on GMAC and Foreclosure Fraud Mess: "The Shit is Hitting the Fan"
I suggest readers start with these two items and then read some more. The issue is complicated and very legally complex so it is a bit over my head to cover such a thing in any detail.

Added:
via Zero Hedge
GMAC Mortgage: "Proudly Executing Up To 10,000 Fake Documents Per Month"

The take away point is that in many cases banks my not have clear title to homes they are or have foreclosed upon. The corner cutting done is ginormous and this promises to have more underneath the surface. Just today GMAC has been doing gymnastics with retractions and press releases based on this information coming to light.

Why is this important? This could be a severe issue for the banks involved, especially if there are suits to follow. This could be a big deal. Now remember the narrative.

This is nothing. While it is important, it is also a non-issue. Why? Congress will pass a law that gets around any unpleasant legal problems for the banks and then they will ban any lawsuit attempts. You think I am kidding, but I am not. The banks will not be facing any stress over this, the recovery narrative demands it. It should not be too long until I see if I am correct.

Anyways, welcome to the recovered economy. It was a strange trip indeed.

Other Stuff
With the all clear being sounded, I may need new material!

Star Blazers Live Action Film
I used to love the cartoon "Star Blazers", which was a Japanese anime series. The central theme was built upon a WWII battle ship that was refitted for space! It was cool by the way.

There is a live action film being made in Japan! Here is the preview. Skip to the end, you know you have to see the Wave Motion Gun being fired!:

AWESOME! I hope we get an English version.

Creative Robots to Hunt You Down
As if the robot revolution needed any mor ehelp, here is the quadrotor flying assasin bug robot and at the 1:00 mark it can now think in nano seconds on how to evade human fired RPG, well hoops for now. For now:

Scary.

Have a good night.