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Bingo. Budget deficit less than expected.

 

White House to Lower 2009 Deficit Estimate to $1.58 Trillion (down from 1.84)

http://www.bloomberg.com/apps/news?pid=206...id=aqCKY..16XmA

 

My mini obsession with how they were going to hit 1.84T when they just passed $1T a few week back is answered. They won't. Break out the champagne.

 

I am not sure if the swelling of the TARP account with returned money is part of this calculation. The whole $700 billion was borrowed after all. (Another mystery here is that in Feb. TARP cash balance was reported to be under 130 yet two weeks ago a Treasury guy said it was $300+billion.)

 

There is always the age old game with SS surplus money too. That money is taken by the Treasury and subtracted from the annual deficit number for the year. Then the next day is put into the total deficit.

 

I wouldn't be surprised if the Treasury actually sells near $2T of debt this year and yet the reported deficit will be that new and improved $1.58T

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next I suppose they'll convince folks to bulldoze their houses, and print more money to handout for them to buy new ones (and take on even more debt)

 

you know, to "stimulate the economy" <_<

 

why not just bomb the entire country back into the dark ages, then print a billion trillion of new FRN's to rebuild it

 

that would be even more stimulating

 

Brilliant Shorty!

In 3 short posts a modern rendition of the combined essays:

 

Jonathan Swift, "A Modest Proposal", 1729

and

Frédéric Bastiat, "Ce qu’on voit et ce qu’on ne voit pas", 1850

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<h2 class="post-title">Break Down Or Else- Professional Edition</h2>

by Lee Adler, Wednesday, August 19, 2009, in Professional Edition, Today's Markets | Permalink |Comments (0) Edit There are plenty of intermediate sell signals in the group and sector ETFs and the broad market charts but, so far, the market is only moving sideways. Bears need a price break within days, or this will turn out to be just another internal correction in an uptrending market. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time, you don’t find the information useful, I will give you a full refund. It’s that simple. Click here for more information.

 

 

I think that's an excellent snapshot of where we are. I would interpret that as: Shrot the lower highs for the next week or more... or...be a patient dip-dongin' girle-bull :P into the same time-frame.

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:huh:

 

"Do you think Jimi is awesome"?

 

:huh:

 

Talk about softballs!!

 

40 years ago today, I was probably getting my diaper changed....

 

Oh you kidz. At least we have the media today to recall and remember.

That is a real gift of civilization, the ability to re-live across generations.

 

My father-in-law owned a bar (Pal Mal) on the corner of Haight and Ashbury.

Unless you where there, it is still hard to sense the attitude and conditions of the time.

 

At least the Internet gives us a glimpse of what was going on.

Earlier periods in history just seem more dusty...

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You are on a roll today Shorty....It looks like we need a new "gimmick"...in the "New Normal Bubble" where the sheep believe they are getting free sheet and walk away with more debt and less discretionary income.

 

NY dealers pull out of clunkers program

Aug 19 02:00 PM US/Eastern

By DAN STRUMPF

AP Auto Writer

 

 

NEW YORK (AP) - Hundreds of auto dealers in the New York area have withdrawn from the government's Cash for Clunkers program, citing delays in getting reimbursed by the government, a dealership group said Wednesday.

 

The Greater New York Automobile Dealers Association, which represents dealerships in the New York metro area, said about half its 425 members have left the program because they cannot afford to offer more rebates. They're also worried about getting repaid.

 

 

http://www.breitbart.com/article.php?id=D9...;show_article=1

 

 

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But there is "Cash for Wankers " gimmick going on underneath the disabled hoods of perfectly functional cars ............

 

AutoNation execs cashing out as stock jumps on 'cash for clunkers'

 

The popular "Cash for Clunkers" program, which recently received Congressional approval for another $2 billion in funds, marked a pivotal turning point in the evolution of bailouts: It made politicians realize bailouts are fine, as long as voters get a piece of the pork too. Or, as the saying goes, "I want either less corruption or more opportunity to participate in it."

 

According to SEC filings analyzed by DailyFinance, AutoNation insiders have sold $20.8 million in stock since the end of July, as the stock price has doubled since March. The selling was led by Michael Jackson, company Chairman and CEO, and Michael Maroone, President and COO, both of whom sold more than $9 million in stock. Four other insiders also sold stock in amounts ranging from a few thousand dollars to more than $800 thousand.

 

The transactions involved the use of company-granted stock options, so the total gains were less than the sale amounts. Still, the use of long-dated stock options with years until expiration should raise the antennae of observers who have curiously been watching auto stocks rally

 

 

http://www.dailyfinance.com/2009/08/10/aut...h-for-clunkers/

 

 

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I know there is another gimmick coming soon Jimi. This ones lost it's edge. They'll run through the whole consumer discretionary chain until they get to Cash for Crox. If you get your toes smashed in an escalator you get a free emergency room visit and a prosthetic rebate if you lose a few digits.

 

Got a feeling we'll be seeing our annual Midnight Madness Walmart trampling of the security guard before Halloween this year.

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