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swordfish

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Ron Insane said we are getting a good employment number tomorrow....because..

 

President "O" is speaking tomorrow on the economy during market hours....2:40 EST....

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I don't know if it means anything about the bullsheet numbers we are gonna get but President "O" is speaking tomorrow on the economy during market hours....2:40 EST....

 

Funny that you would mention that. Maybe he knows the numbers are bad (I am sure he knows the numbers in advance), but that might be why he is going to speak. If I remember the last time the numbers were bad, he spoke about stimulus etc... There might be something to this.

 

Meanwhile, crude is coming down on 82.50, hoping it can gash it so I can empty some CL shorts.

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Jeebus, Don Harrold is still pushing those ridiculous copper rounds (I have a bunch of them, only I call them "pennies") and says he is 75% sold out. Who is buying those things? Atilla?

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Radio Free Wall Street 1/7/10

Lee Adler talks about the initial unemployment claims fraud, the issue of Treasury supply and the Treasury?€™s cash hoard, and the keys to the market?€™s long term outlook.

 

Not a subscriber? Click here to hear a free preview. Reposting or linking to this preview is permitted and encouraged. Spread the word!

 

Or listen to a free release of the November 25, 2009 podcast.

 

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audio_mp3_button.png Radio Free Wall Street 1/7/10 [28:28m]: Play Now | Play in Popup | Download

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http://wallstreetexaminer.com/uploads/image33.png

 

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http://wallstreetexaminer.com/uploads/image35.png

 

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http://wallstreetexaminer.com/uploads/image29.png

 

To view all of the charts in this discussion see Wall Street Examiner Professional Edition subscribers, click here.

 

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Psyche D - Not sure how tight $SGG follows the futures market but you could not ask for a better example of dark cloud cover.

 

Again will watch SB_F tomorrow morning.

 

sggdaily1710darkcloud.jpg

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Bullish....

 

State Tax Revenue in U.S. Drops Most Since 1963, Study Says

 

http://www.bloomberg.com/apps/news?pid=206...id=a5OM27Cn39Yk

 

This one fact cuts through all the bullshit spouted by the financial media/white house press. Until tax receipts grow there will be no recovery. And until tax receipts grow, states/county/municiple governments will continue to cut their budgets.

 

Revenues are falling so steeply these governments will be cutting back to where their budgets were ten years ago (or more). Ironically for them, this will affect their tax receipts even more, because everyone dependent on state handouts will have a loss of their own income.

 

When this is finally over I think we'll be back to 1992 levels of home prices and government spending.

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good god, Cramer is on my radio right now pimping getcramer.com, his new stock picking alert service. Trade like cramer, as soon as he does. Right.

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I took a prior snapshot of Mr. Widget's day 4 area since last time it was shortened going into the holiday. You can see how day 4 had the yellow 5 day cycle histogram recover from below the zero momentum zone. After today is where we want to see the 8/5 day begin to wane back towards the zero momentum zone.

post-326-1262914705_thumb.png

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good god, Cramer is on my radio right now pimping getcramer.com, his new stock picking alert service. Trade like cramer, as soon as he does. Right.

post-2457-1262915043.png

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Of course only Private Sector workers can be chopped

 

A lawsuit by Illinois government's biggest union challenging Gov. Pat Quinn's plans to lay off some 2,600 state workers is on hold as both sides try to negotiate a resolution.

 

Last September, a southern Illinois judge sided with AFSCME in temporarily blocking the layoffs. The court ruled the union sufficiently proved employees would be irreparably harmed if the job cuts went forward :wacko: and ordered Gov. Quinn to kiss the ass of the union boss in the town square at noon the next day.

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This one fact cuts through all the bullshit spouted by the financial media/white house press. Until tax receipts grow there will be no recovery.

 

A guy at work was spouting off that his 401k had recovered to within a loss of $70,000 since the market crashed into last year. All I could say was that if he were to see a complete recovery of his fund, then I would have to think that crude would be back to 140 and gasoline at $4 per gallon along with a host of other real things inflating in price.

 

If not, then Ben has been doing a magical job at suppressing everything but the stock market.

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YOU CANNOT CREATE JOBS IN A CONSUMPTIONIST ECONOMY

 

You create consumers in a consumptionist economy

 

You create debt

 

You create bad debt

 

You create mortgage defaults

 

You create failed banks

 

You create bank bail outs

 

You create more trasheries

 

You create government debt defaults

 

But you do not create jobs :ninja: :ninja:

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Meanwhile, Augsburg Fortress Press, an arm of the Lutheran Church, suddenly realized that they had gambled away all their pension funds. So, due to a "loophole" that exempts non-profit corporations from normal standards of decency laws applicable to for-profit companies, they have just canceled everyone's pension. Seriously. Suddenly 500 retirees have no income.

 

The Lutheran Church (ELCA) has "declined to bail out" the pension fund. I guess it's not God's work to honor commitments made to people who have worked there for 50 years.

 

http://minnesota.publicradio.org/display/w...gsburg-pension/

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Meanwhile, Augsburg Fortress Press, an arm of the Lutheran Church, suddenly realized that they had gambled away all their pension funds. So, due to a "loophole" that exempts non-profit corporations from normal standards of decency laws applicable to for-profit companies, they have just canceled everyone's pension. Seriously. Suddenly 500 retirees have no income.

 

The Lutheran Church (ELCA) has "declined to bail out" the pension fund. I guess it's not God's work to honor commitments made to people who have worked there for 50 years.

 

http://minnesota.publicradio.org/display/w...gsburg-pension/

 

I think the loophole is: "a special exception for churches and their affiliates." Not sure it applies to every non-profit.

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