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#91 mdporter

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Posted 30 January 2010 - 02:56 AM

For Shorty:

California State Teachers' Retirement System (Calstrs) said it recorded a $42.6 billion shortfall, hurt by investment losses and up from $22.5 billion a year earlier.

Calstrs posted the funding strategy report of its flagship Defined Benefit Program, to be presented by chief executive Jack Ehnes on Feb. 5, on its website.

"Given the 25 percent loss in investments in 2008-09, however, the funding situation has gotten much worse," Calstrs said in the report.

The funding shortfall would reduce the Defined Benefit Program's funded ratio to about 77 percent, according to the report.

If all the losses from 2008-09 were recognized, the shortfall would increase further to about $78 billion and would reduce the funded ratio to 58 percent, the fund said in the report.

The fund will need to seek increases in contributions to offset the impact of the investment losses, it said.


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This week a whole bunch of CA school districts announced big shortfalls and layoffs, the SF transit district is millions in the hole, the SF school districts is $113 million short, the Sacramento transportation authority is millions in the hole and will lay off 300 peeps, etc.

Everywhere you look budgets are blowing up and more people are losing their jobs. The state here is raising fees all over the place. Bridge tolls her in the Bay Area just got raised again another 25%. $5 to drive over a bridge, more depending on the time of day.
The men the American people admire most extravagantly are the most daring liars, the men they detest most violently are those who try to tell them the truth. -- H.L. Mencken

"Only a man who knows what it is like to be defeated can ... come up with the extra ounce of power it takes to win." - Muhammad Ali

"When plunder has become a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it." -- Claude Frédéric Bastiat

#92 shorty

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Posted 30 January 2010 - 03:29 AM

For Shorty:

California State Teachers' Retirement System (Calstrs) said it recorded a $42.6 billion shortfall, hurt by investment losses and up from $22.5 billion a year earlier.

Calstrs posted the funding strategy report of its flagship Defined Benefit Program, to be presented by chief executive Jack Ehnes on Feb. 5, on its website.

"Given the 25 percent loss in investments in 2008-09, however, the funding situation has gotten much worse," Calstrs said in the report.

The funding shortfall would reduce the Defined Benefit Program's funded ratio to about 77 percent, according to the report.

If all the losses from 2008-09 were recognized, the shortfall would increase further to about $78 billion and would reduce the funded ratio to 58 percent, the fund said in the report.

The fund will need to seek increases in contributions to offset the impact of the investment losses, it said.


Source

This week a whole bunch of CA school districts announced big shortfalls and layoffs, the SF transit district is millions in the hole, the SF school districts is $113 million short, the Sacramento transportation authority is millions in the hole and will lay off 300 peeps, etc.

Everywhere you look budgets are blowing up and more people are losing their jobs. The state here is raising fees all over the place. Bridge tolls her in the Bay Area just got raised again another 25%. $5 to drive over a bridge, more depending on the time of day.

SAN DIEGO -- Several law enforcement officers are voicing outrage over the early release of inmates from local jails as part of a state order to save money.
Early release is expected to save the state $1.5 billion, but Clay said in the end it could cost the county $3 billion. In this current economic climate, Clay said inmates released early are more likely to commit other crimes.

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#93 shorty

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Posted 30 January 2010 - 03:54 AM

Hour of Power ain't what it used to be

GARDEN GROVE, Calif. – The Southern California megachurch founded by televangelist Robert H. Schuller Sr. is selling property, laying off workers and pulling its signature TV program "Hour of Power" from some markets to offset a nearly $8 million drop in revenue.
Church leaders blamed the decline on the struggling U.S. economy. They intend to save $4.9 million and stave off further financial collapse by selling 170 acres in southern Orange County, including a retreat and wedding center, laying off 50 employees and cutting "Hour of Power" from eight of the 45 domestic broadcast TV stations that air it.

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#94 cwd

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Posted 30 January 2010 - 04:03 AM

a serious war with with either N Korea or Iran could print 'er at 100

if it goes nuclear, then 50

in that event I'd be a buyer at that point, since I'm long-term bullish

but I'd dollar-cost average in from 50 down to the 20 area


How about oil and gold in the above scenario? :unsure:

#95 cwd

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Posted 30 January 2010 - 04:24 AM

OIH looking a bit suspect after it's 900 tag as well...



For some reason the Scwhab Street Smart pro show the 900 sma @141.74 :wacko:

#96 cwd

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Posted 30 January 2010 - 04:38 AM

If we reach 211 i dont wanna live anymore :lol:

honestly, if we would go to 211 the world as we all know it wouldnt be the same anymore. I highly doubt that it would be a better life for us. That would mean at least 25% unemployment in the US and that would mean civil war in the US. There is no doubt about that. The US is built on prosperity, once that goes, there wll be total chaos. If we study history it seems that - in opposite to popular beleive - various ethnicies are not made from mother to live together. In the US this does only work because of more than 200 years of prosperity. Once that goes, and the MAJORITY of the populace gets it that there is no prosperity anymore than the US will look into a abyss bigger than, well, the abyss! :lol:


Foxie, there has not always been prosperity in the US especially in the states of the old Confederacy. In fact there was extreme poverty in much of the old south until after WWII.
I agree things will be a lot worst, but life will go on.

#97 cwd

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Posted 30 January 2010 - 04:42 AM

Great stuff K Wave.



Agreed :D

#98 DrStool

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Posted 30 January 2010 - 09:31 AM

S&P500 monthly

March 09 lows will never ever been seen again


Is that like the pronouncement you made about GM a couple years ago?

Unemployment in the US is already 17.3%. 25% is not that far off.

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#99 DrStool

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Posted 30 January 2010 - 09:36 AM

I don't understand how they could have fudged the GDP number as much as they did. Any of you sharpies figure that one out?

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#100 Drano

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Posted 30 January 2010 - 09:44 AM

Foxie, there has not always been prosperity in the US especially in the states of the old Confederacy. In fact there was extreme poverty in much of the old south until after WWII.
I agree things will be a lot worst, but life will go on.

I happened to be in a bank shortly after 9/11, when a black man talking to the Hispanic-looking cashier was expressing his distress about what had happened to those people. It looked like a TV commercial -- white, Asian-Americans, black, Hispanic, all standing with tears in their eyes talking in a true color-blind conversation. One of the most striking moments in my life.

There are too many middle-class and well-to-do members of every race in this country for there to be something like a true race war. Isolated violence like the inner-city riots of the 60's, Watts, etc., very possibly if conditions are right again.
Of course I'm caustic!

#101 Drano

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Posted 30 January 2010 - 09:45 AM

I don't understand how they could have fudged the GDP number as much as they did. Any of you sharpies figure that one out?

They used some kind of multiplier on the inventories that had a big effect, according to a number of articles in (incredibly enough) mainstream media. The articles actually stated that the reason was only because of the inventories, not that things were better.
Of course I'm caustic!

#102 DrStool

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Posted 30 January 2010 - 10:04 AM

I was so disgusted by the headlines that I didn't even bother to scan the news items.

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#103 DrStool

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Posted 30 January 2010 - 10:25 AM

I see that Mauldin has a pretty good explanation in his weekly spam.

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#104 DrStool

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Posted 30 January 2010 - 10:45 AM

Latest Story

Major Sell Signal- Professional Edition
January 30, 2010 By Lee Adler The proprietary cumulative net differential line is now signaling a major downtrend after it made a head and shoulders top last fall, broke down, retraced, then made a much lower high in December. It has now broken the December, November and July 2009 lows. 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.

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#105 fxfox

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Posted 30 January 2010 - 10:55 AM

Is that like the pronouncement you made about GM a couple years ago?

what? :lol: ^_^

that was an individual stock ^_^

I might have added, that if we follow the 1970s script THEN we will never ever see the march 09 lows again.

Maybe im just too much a 70s guy and thats my music style:

http://www.youtube.com/v/5qfJydF9wR0.swf

:lol:
'patriot' is formed with 'patria' and 'idiot'





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