shorty Posted July 2, 2009 Report Share Posted July 2, 2009 my guess this time is -199,999 much better than expected, with rate holding at 9.4% anal cysts believe the unemployment rate could rise to 9.6% from last month's 9.4%, and the economy could lose up to 365,000 jobs. That would be an increase in jobs lost from the May figure of 345,000. Also, Challenger notes the number of jobs cut thus far this year, nearly 897,000, far outdistances the 777,362 lost during a comparable period in 2001 when the tech bubble was popping. Link to comment Share on other sites More sharing options...
shorty Posted July 2, 2009 Report Share Posted July 2, 2009 California could shut down all fourth of July fireworks this year and just have a moment of silence "The City Council of Montebello, Calif., a suburb of Los Angeles, voted to donate the $39,000 wireworks budget to local food banks" http://www.cbsnews.com/stories/2009/06/29/...in5121548.shtml I think in most cases they've already paid for them and taken delivery, might as well light 'em off, can't get their money back. Unless it's all outsourced and they can cancel at the last minute with no contract penalties. Link to comment Share on other sites More sharing options...
shorty Posted July 2, 2009 Report Share Posted July 2, 2009 wow it's worse in PA than CA PA state workers face a 30% pay cut starting July 17th CA is only 14% Link to comment Share on other sites More sharing options...
shorty Posted July 2, 2009 Report Share Posted July 2, 2009 these aren't Recession numbers, they're Depression numbers...... GM's June sales fell 33% from a year ago, while Chrysler's fell 42% -- both slightly worse than analcysts expected. Link to comment Share on other sites More sharing options...
cwd Posted July 2, 2009 Report Share Posted July 2, 2009 The realization kinda crept up on me, from posts today in IDS, of how the U. S. government apparently plans to solve the economic crisis. They give the big banks the govt reports ahead of time so that they can frontrun them, and Presto!-- the banks start having earnings-- besides the earnings from shorting themselves as Citi does. Also, as an article posted here yesterday shows, the SEC goes after small fry, many of whom probably did nothing wrong, while letting huge well-connected institutions get away with every kind of thievery imaginable as long as it increases earnings. These are institutions whose stocks are heavily invested in by pension funds and 401K holders. And, whaddaya know, the holders of these banks stocks start having appreciation of their investments. What a plan, huh? Think it will work? Perhaps we had better hope so, as they do not appear to have a Plan B. I think they have been doing this for a long time, but it has gotten in your face blatant. We are having professional traders making comments on market rigging and no one except for people like Dennis Kneale even make a defence. The normal reaction now is "So What'. Link to comment Share on other sites More sharing options...
Jimi Posted July 2, 2009 Report Share Posted July 2, 2009 these aren't Recession numbers, they're Depression numbers...... GM's June sales fell 33% from a year ago, while Chrysler's fell 42% -- both slightly worse than analcysts expected. I made a similar observation in IDS. No green shoots in Detroit, at any rate. Methinks it's the same cast of jackasses pumping "greenshoots" who previously advised that the problems were isolated to subprime and under control.... Link to comment Share on other sites More sharing options...
cwd Posted July 2, 2009 Report Share Posted July 2, 2009 Here is old Richard Russell's comment on the Lowry's number At yesterday's close, Lowry's Buying Power Index was only 8 points above 96, which was its level at the March 9 low. In other words, Buying Power has faded badly over recent weeks. The fact that as of June 30, the Buying Power Index was only slightly above its March 9 level is almost shocking. Technically, the stock market is on dangerous ground. Link to comment Share on other sites More sharing options...
Slappy Posted July 2, 2009 Report Share Posted July 2, 2009 wow it's worse in PA than CAPA state workers face a 30% pay cut starting July 17th CA is only 14% Ah, but it looks like they have a plan! And that's enough isn't it? Want to hear another great plan? The PA State Teachers Pension system has finally figured out that they are just a bit underfunded, say, 89% of what they actually should have underfunded. But the latest SERF newsletter assures that all they have to do is change the EMPLOYERS contribution percentage from the current 4% to somewhere around 30% of total payroll in the 2012 fiscal year! I'll reremind you, this is the Teachers pension plan. so the employers are primarily running on tax money. We are so effed. Link to comment Share on other sites More sharing options...
Jorma Posted July 2, 2009 Report Share Posted July 2, 2009 WWII and military spending then and after made the California we know. In the 60's as much as 40% of defense and NASA procurement money went into or through the state. Who nurtured the green shoots of Silicone Valley? The government. California suffered a big blow when the cold war ended and defense priorities shifted. 91 and 92 were brutal there. Still everyone knew that government was the problem. Go figure. California always had a knack for inflating things. The high tech revolution centered there was real. It did get out of hand. When I've stood in Mountain View it has occurred to me that within a 20 minute drive there was probably more net personal worth than all of Michigan with parts of Ohio and Indiana thrown in. When so much wealth is so visible everybody thinks they are entitled to some of it. That's human nature. Now California wouldn't have been another Mississippi if not for all those Federal dollars flowing there but they got a huge subsidy. Between the weather and the geographyl and Hollywood and all that it will probably always be a place that half the people in the world might choose to live if they had wealth. It will always be a place of dreams in that way. Link to comment Share on other sites More sharing options...
Slappy Posted July 2, 2009 Report Share Posted July 2, 2009 There's some ironic statement being made here, but I can't find the words.... Karl Malden dies at 97; Oscar-winning actor Malden starred in TV's 'The Streets of San Francisco' and made famous the American Express catchphrase 'Don't leave home without it.' He appeared in more than 50 films over his long career. Story link... Link to comment Share on other sites More sharing options...
nymphcaster Posted July 2, 2009 Report Share Posted July 2, 2009 I've recently been watching TLT and TBT, after doing a trade in TLT and getting a prospectus, which didn't quite make me happy. I presume the same on the opposite. They might be interesting to trade anyway, although aren't they getting sold to somebody else? I don't know what difference that would make. Have not figured out whether both suffer from the same thing others offer from (over time), i.e., decay. So presently, out due to various reasons, but mainly: is the proxy worth the proxy and what is the cost of the proxy of time versus an original. Read about the plan for reverse splits in Fas/faz, which seems like an ode to decay. As I see health care, one could imagine a huge new clientele seeking health care services. But who is going to pay for it? Today my health insurance raised my rates 40 percent, and it wasn't like I went to the doctor for anything or some new procedure was discovered that all insured people want. So I figure part of the rate increase is the cost of uncertainty as congress jiggers with health care, and that's a non-profit who continually asks to be a profit (from what I recall). Anyway, it's so much, I'll likely increase my deductable because I spend way too much on insurance of all sorts for not making any claims. I think the whole health insurance thing is interesting. And its a whole lot more than being a discussion of frivolous claims. One problem is that there are so many uninsured people that (I believe) hospitals perform unnecessary services on insured patients in order to run up some reimbursed costs to cover all the necessary uninsured costs. I don't see that problem going away without a single payor option and taking the "profit out of" unnecessary procedures. But we are so regulated up the arse that nobody can imagine how moving to a single payer thing would function during the transformation, given all the money, including state pension plans invested in various medical things. Nonetheless, I presume the "margins" will go down, and not be equivalent to outrageous defense stocks given debt levels. For debt levels: see http://en.wikipedia.org/wiki/List_of_count...y_external_debt and then search for internal debt. Lot of debt out there. How to invest in a society/world where the question is "who is more dead" on debt levels. And where an immense amount of "money" is daily traded on who can freak out what chart. Basically world wide economy premised on gambling. What happens if folks gang up on GS or any number of other heavy hitters? More of the get off debt cycle. Counteracted by the print money cycle. It's dire. Crappy (IMO) staples seemed to do well today. WHich I take more as a fear trade rather than a good bargain. I define crappy staples as either health negative or health cost negative. Link to comment Share on other sites More sharing options...
shorty Posted July 2, 2009 Report Share Posted July 2, 2009 Dow Chemical said Wednesday it would shut down "a number" of manufacturing plants to help achieve $1.3 billion in cost cutting. Link to comment Share on other sites More sharing options...
joe3pack Posted July 2, 2009 Report Share Posted July 2, 2009 One problem is that there are so many uninsured people that (I believe) hospitals perform unnecessary services on insured patients in order to run up some reimbursed costs to cover all the necessary uninsured costs. uhh, interesting belief, but not one my experience supports. Link to comment Share on other sites More sharing options...
joe3pack Posted July 2, 2009 Report Share Posted July 2, 2009 DOW chemical bros. can't seem to break on thru to the other side. . . of the 200d. wouldn't make a bad short at all. the underwater side of the MACD will be a thing of beauty. Link to comment Share on other sites More sharing options...
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