Guest yobob1 Posted March 30, 2004 Report Share Posted March 30, 2004 Link to comment Share on other sites More sharing options...
Guest yobob1 Posted March 30, 2004 Report Share Posted March 30, 2004 GWB:"You know I need a good jobs number this month. I said we would create 300,000 jobs a month last year and look what happened. If this keeps up I'll look like an idiot. Cheney: "Mr. President, you are an idiot. You're our idiot but an idiot none the less. Can I be frank, Mr. President?" GWB: "Frank? I thought you were a Dick. Cheney: "I am a Dick, uh I mean my name is Dick. Gol darn it, now I'm talking like you. Now Mr. President, our financial system is in deep doo-doo. Everything hinges on interest rates being kept low. Now if we report a good jobs number, the bond market will react by selling bonds which makes the interest rate higher. The price and the rate are inversely correlated." GWB: " Perversouly related? That sounds like incest. You know I am 100% against incest. Well other than in those states where it is a common practice amongst my voting core that is." Cheney: " Inversely correlated, Mr. President. When the price goes up the rate goes down.....oh never mind. Let's just say it would be a bad thing amongst our coporate sponsors if rates went up and they're the ones paying the bills around here. They might not like it too much." GWB: "But I need more jobs or Kerry is going to beat me." Cheney: "Uh excuse me, what did you say? I'm afraid I wasn't paying attention. I'm trying to update my resume." GWB: "Jobs, we need more jobs. Now how are we going to make more jobs? Cheney: "Mr. President we have created millions of jobs. Unfortunately they're mostly in China other than the greeters at Wal-Mart who make $5.65 per hour handing out shopping carts." GWB: "Wow they make $5.65 just for handing out shopping carts? That seems like pretty easy money. I only pay my illegal migrant workers $10 a day for 12 hours work on my ranch. Of course they get all the beans they can eat for free too." Cheney: "Would you like another pretzel?" Link to comment Share on other sites More sharing options...
wrecked him Posted March 30, 2004 Report Share Posted March 30, 2004 Yesterday in the office, I happened to see the owner of a mortgage company. This fellow has, in addition to his personal home loan buisness, a large corportate component. He gets to see the books of many of the tool and die shops. What is interesting to me is I recently posted that one of my corporate banker patients mentioned that he expected about one third of these automotive shops to go under based on the lack of efficiencies. These companies make money on the difference between the Canadian and US dollar. My mortgage company owner patient tells me, fuggedaboudit. He says, at least 50% of these shops supplying the automotive industry are currently in the red and he is starting to see a steep rise in people simply walking away from their homes. Close the door and say goodbye. I realize that this isn't major news for people on this board, but where I live, most of the local "GDP" is derived from the automotive industry. What is amazing to me is that very few of the workers that I see have any clue as to any impending downturn. If this is happening now, what are things going to look like in a year or two? Link to comment Share on other sites More sharing options...
HiHat Posted March 30, 2004 Report Share Posted March 30, 2004 I don't see any meaningfull type correction for today. More or less a "chop" day. BUT.........as per usual ..of late, it's a cracker jacks box. The white sugar is toxic and the surprises are cheap. Link to comment Share on other sites More sharing options...
chibear Posted March 30, 2004 Report Share Posted March 30, 2004 CNNUSATODAYGALLUP: Bush 51% Kerry 47% More interesting: "In a CNN/USA Today/Gallup poll released Monday, respondents were asked if they thought their own taxes would go up if Kerry wins the election -- 58 percent said yes, while only 29 percent said no." Watch for Richard Clarke to start developing a Herbert Lom (Inspector Dreyfus) eye twitch. I mention this not for political reasons, but as a possible explanation for the turn up in the market. Wall Street likes Bush. Link to comment Share on other sites More sharing options...
DrStool Posted March 30, 2004 Report Share Posted March 30, 2004 That says it all. Link to comment Share on other sites More sharing options...
Hiding Bear Posted March 30, 2004 Report Share Posted March 30, 2004 CNNUSATODAYGALLUP: Bush 51% Kerry 47% More interesting: "In a CNN/USA Today/Gallup poll released Monday, respondents were asked if they thought their own taxes would go up if Kerry wins the election -- 58 percent said yes, while only 29 percent said no." Watch for Richard Clarke to start developing a Herbert Lom (Inspector Dreyfus) eye twitch. I mention this not for political reasons, but as a possible explanation for the turn up in the market. Wall Street likes Bush. Most Amercians and most of Congress are no longer bothered by $500 billion a year budget deficits, and see no need to increase taxes or reduce spending. And why should they be (in the short run) - while the MOF and BOJ (plus other foreign central banks) have bought about 100% of all new Treasury issues the last six months. The problem will come when Japan decides it no longer needs to support the US$. Look for the MOF to scale back its purchases after March 31, but not pull out of the $ and US Treasury market completely - yet. Link to comment Share on other sites More sharing options...
dogsie Posted March 30, 2004 Report Share Posted March 30, 2004 WH: How would the average person show concern for conditions ahead when most economists seem to be keeping their fears to themselves? Complacency still reigns on tv business news. Link to comment Share on other sites More sharing options...
Charmin Posted March 30, 2004 Report Share Posted March 30, 2004 I said we would create 300,000 jobs a month President Kerry - 2008 - and 10 million more jobs missing in action http://zfacts.com/p/529.html Link to comment Share on other sites More sharing options...
Guest Posted March 30, 2004 Report Share Posted March 30, 2004 If as I expect, we start to see the simultaneous selloff of bonds and stocks this week... LOB. As for the jobs numbers... a worse than expected corporate jobs number will be accompanied by a ridiculously good Household Survey number...which measures among other things - UNPAID IN-HOME WORKERS (seriously...it does) Expect the Snowjobman to come out with guns blazing about the features and benefits of the Household Survey...and how it shows a vibrant in-home economy. Link to comment Share on other sites More sharing options...
DrStool Posted March 30, 2004 Report Share Posted March 30, 2004 Bush will be reappointed. The majority Republican governors control the touch screen computer voting, and the administration has packed those courts they did not already control. All close votes will be decided by the courts in favor of Bush. There will never be a Democratic administration again in our lifetimes. There will be mass street demonstrations, which eventually will cause the administration to declare martial law and stage a de facto coup d'etat. Long live the Republic. The Republic is dead. Link to comment Share on other sites More sharing options...
DrStool Posted March 30, 2004 Report Share Posted March 30, 2004 Golden Churn Accumulation or Distribution? The Answer... Your Golden Stool, including short and long term updated charts and price targets, is loaded. Even if you are not a goldbug, you should check out the Golden Stool. It's in your Anals daily. Take a subscribatory and download the Golden Stool RIGHT NOW! 30 Day Intro Subscribatory. Just $16.99! Get In RIGHT NOW!? Link to comment Share on other sites More sharing options...
machinehead Posted March 30, 2004 Report Share Posted March 30, 2004 What is interesting to me is I recently posted that one of my corporate banker patients mentioned that he expected about one third of these automotive shops to go under based on the lack of efficiencies. These companies make money on the difference between the Canadian and US dollar. Until 1973, governments undertook to ensure fixed exchange rates among their currencies. Floating rates have opened up new profit centers for banksters, but also have amplified boom/bust cycles in individual economies. Canada was in the sweet spot three years ago, effortlessly hypercompetitive with the low C-dollar. The sharp rise of the C$ in 2003 probably was sufficient to wipe out the entire gross profit margin -- and then some -- of many Canadian auto parts suppliers. Europe ultimately decided on a common currency to eliminate such distortions. It's hard to imagine pokey North America ever getting there. Governments insist on retaining policy discretion, even at enormous cost to the real economy. Few diagnose what's going on, and fewer still complain ... so why shouldn't they? Link to comment Share on other sites More sharing options...
Guest libertas Posted March 30, 2004 Report Share Posted March 30, 2004 Bush will be reappointed. The majority Republican governors control the touch screen computer voting, and the administration has packed those courts they did not already control. All close votes will be decided by the courts in favor of Bush. There will never be a Democratic administration again in our lifetimes. There will be mass street demonstrations, which eventually will cause the administration to declare martial law and stage a de facto coup d'etat. Long live the Republic. The Republic is dead. The Republic died slowly as the Republicrats and Demicans cemented their joint control of government. They differ only on a few minor social and religious issues which distract the masses from the fact that there is no difference between tham and third parties will not be tolerated. Now it is just a matter of infighting between the aristocratic families as to who gets the spoils and which figureheads are put up to run for election. The aristocrats, like Bush, only thinly veil their contempt for the remaining trappings of democracy. Just look at his off the cuff remarks about his owing no-one any explanations and the need for him to dispense with the constraints of any kind of consensus. Constitutional protections are going by the board. Just now, the midnight break-in by the SD (Nacht und Nebel) has been authorized by the Federal courts. A little planted dope and it's off the the pokey for the rest of your life. Link to comment Share on other sites More sharing options...
GregFokker Posted March 30, 2004 Report Share Posted March 30, 2004 Bush will be reappointed. The majority Republican governors control the touch screen computer voting, and the administration has packed those courts they did not already control. All close votes will be decided by the courts in favor of Bush. There will never be a Democratic administration again in our lifetimes. There will be mass street demonstrations, which eventually will cause the administration to declare martial law and stage a de facto coup d'etat. Long live the Republic. The Republic is dead. Listening to CSpan all day every day, that's actually my conclusion as well. Freedom only means something to those who care about it. Those currently in power care only about preserving their position, whatever the cost. It's our own collective fault for having let it happen during the last century. I'd be voting Nader and arranging neighbourhood screenings of Bowling for Columbine. Link to comment Share on other sites More sharing options...
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