Jorma Posted June 19, 2009 Report Share Posted June 19, 2009 Another $106 billion to borrow. Except they did it again and gave someone a "line of credit". The first time it was the FDIC to fund PPIP which is now in limbo but I suspect the money is still there for the taking by the Treasury. (The FDIC is part of the Treasury) This time they gave a $100 billion line of credit to the IMF. They also gave them $8 billion in cash. Hardly worth mentioning What a line of credit is for the IMF I have little clue. They attached the IMF thing to the war funding supplemental hoping it could slip through since there are precious few congress critters who can support such a thing at this point. That wasn't flying so they hid 91% of it in a "line of credit". http://rawstory.com/news/afp/Congress_appr...__06182009.html Link to comment Share on other sites More sharing options...
mdporter Posted June 19, 2009 Report Share Posted June 19, 2009 There is going to come a time where the laid off do not qualify for UE compensation or are being laid off a second time and their benefits are still exhausted. More and more the numbers of people receiving UE compensation is likely to be less representative of the total employment situation. Which is exactly why the compensation number is going to be more advertised. In the past if you were getting UE, and then got a job even for a short time period, your UE bennies would reset to the full amount again and you could start all over. Some states like CA are in trouble with their unemployment funds. This will be big news when the state can't write checks anymore (if it is allowed to happen). Link to comment Share on other sites More sharing options...
Jorma Posted June 19, 2009 Report Share Posted June 19, 2009 This is the slowest I can ever remember this thread. I wonder if it means anything. Everyone is exhausted. Exhausted in an odd way. I think it's fair to say most everyone feels down in their gut that something bad is going to happen. Not just traders and not just with the markets. Everybody. Or maybe it's just me. The disconnect between the overwhelmingly Dover Sole story of normalcy and green shoots and the reality is so huge it's exhausting. Where is the old Barrister? Time to haul out the Guns of August again. For those who don't recall, an old poster who was obsessed with this book about the period of the commencement of WWI. That was in 02 I think and he was convinced something big was going to happen. Plenty of things did of course. The main point was that during that summer in Europe outwardly things seemed quite normal but.......... Where are the astro boys? Any signs or portents? Link to comment Share on other sites More sharing options...
Rationalize Posted June 19, 2009 Report Share Posted June 19, 2009 closed all my GooG diluted suckercommon bucknaked 430 falsehope calls, fer peanuts, prior to triple beeyatchtanks fer da $caSSh morans I dunno SureT... I wouldda been poopin in my shorts on that one. Almost 15 bux ITM is a bit on the scary side IMO. Link to comment Share on other sites More sharing options...
Rationalize Posted June 19, 2009 Report Share Posted June 19, 2009 This is the slowest I can ever remember this thread. I wonder if it means anything. Perhaps some chatter about unions will bring a few back Link to comment Share on other sites More sharing options...
Charmin Posted June 19, 2009 Report Share Posted June 19, 2009 This is the slowest I can ever remember this thread. I wonder if it means anything. It's a small world after all or we went up on Mr. G hype and everyone left town waiting for real earnings to show up. Link to comment Share on other sites More sharing options...
cwd Posted June 19, 2009 Report Share Posted June 19, 2009 Perhaps some chatter about unions will bring a few back :lol: Link to comment Share on other sites More sharing options...
Charmin Posted June 19, 2009 Report Share Posted June 19, 2009 Perhaps some chatter about unions will bring a few back Let's talk about next year then and what some believe to be coming: "once the effects of the "stimulus" package kick in we will probably see massive inflation. Generally, it takes about 2 years for monetary stimulus to result in inflation, so we could begin seeing massive inflation a year from now." http://fintrend.com/ftf/mip.asp Let's stockpile some gasoline Link to comment Share on other sites More sharing options...
DrStool Posted June 19, 2009 Report Share Posted June 19, 2009 Could be school's out. Link to comment Share on other sites More sharing options...
DrStool Posted June 19, 2009 Report Share Posted June 19, 2009 "once the effects of the "stimulus" package kick in we will probably see massive inflation. Generally, it takes about 2 years for monetary stimulus to result in inflation, so we could begin seeing massive inflation a year from now." Oh gawd. Another shibboleth of the high priests of economics. In the pundit business repeating what everyone else says is the universal substitute for actual thought. 2 year lag, my ass. Show me the damn correlation studies, and THEN I'll believe it. Link to comment Share on other sites More sharing options...
AgentSmith Posted June 19, 2009 Report Share Posted June 19, 2009 There's no talk about layoffs at my work (Thomson Reuters), just that we continue moving every (yes, every) technology project to Bangalore, India as quick as possible .. after the projects are all moved then the layoffs will come. It can't happen soon enough. Link to comment Share on other sites More sharing options...
Rationalize Posted June 19, 2009 Report Share Posted June 19, 2009 Hard Times.. Strip clubs feel the pinch - http://articles.moneycentral.msn.com/Inves...-the-pinch.aspx "For an industry often thought to be recession-proof, the transition has been sobering. In order to adapt, many so-called gentlemen's clubs are shedding their upscale trappings and catering to a thriftier clientele by offering less expensive drinks, waiving cover charges and refocusing their marketing." Cheaper. "At certain of their high-end clubs, Rick's and VCG are considering closing the kitchens and scrapping other upscale offerings to go after a broader, more blue-collar market. In January, Rick's converted its high-end club in Dallas to an all-nude, bring-your-own-beer venue under its XTC Cabaret banner, partly because of difficulties getting a liquor license. " Licenced to take pants off, but not to sell beer. "Amid the difficult times, club owners say they have found some benefits. Several report that it's easier to hire exotic dancers now that many women are being laid off from more-buttoned-down, white-collar jobs . Among the new recruits at Rick's and VCG are a laid-off fashion designer, a former Bank of America banker, a former paralegal and two Los Angeles real-estate agents." It's only dancing. "Now 34 , she says she is earning only 25% of what she got before the recession. "It's not quite the elite crowd that used to come in," she says." Yeah. Used to be like Richard Gere and Julia Roberts. ""Will you make money here? Absolutely," says a 36-year-old :ph34r: whose stage name is Sara. She says she quit her job as a mortgage broker in San Francisco last year to begin dancing at Sapphire Gentlemen's Club in Las Vegas in January. " Same skills, different hours. Link to comment Share on other sites More sharing options...
Charmin Posted June 19, 2009 Report Share Posted June 19, 2009 I'd like to see the spx close below June's first weekly low and pile on some buyers remorse next week - just so we have something to talk about. 923 or less Link to comment Share on other sites More sharing options...
joe3pack Posted June 19, 2009 Report Share Posted June 19, 2009 "Now 34 , she says she is earning only 25% of what she got before the recession. "It's not quite the elite crowd that used to come in," she says." Yeah. Used to be like Richard Gere and Julia Roberts. ""Will you make money here? Absolutely," says a 36-year-old :ph34r: whose stage name is Sara. She says she quit her job as a mortgage broker in San Francisco last year to begin dancing at Sapphire Gentlemen's Club in Las Vegas in January. " Same skills, different hours. Link to comment Share on other sites More sharing options...
mdporter Posted June 19, 2009 Report Share Posted June 19, 2009 There's no talk about layoffs at my work (Thomson Reuters), just that we continue moving every (yes, every) technology project to Bangalore, India as quick as possible .. after the projects are all moved then the layoffs will come. It can't happen soon enough. My employer has a Bangalore office, the products they code suck. It takes 5 guys to do what one good american programmer can do, which our guys then spend time REDOING. Same with our IT guys there. We have one good one that spent alot of time here at company HQ then went back, but his underlings. OMG they are mediocre. Bangalore salaries are now much higher than they used to be too, so the cost savings isn't nearly as good. Link to comment Share on other sites More sharing options...
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