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B4 the Bell Turdsday July 8, 2004


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#256 Guest_Icky Twerp_*

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Posted 08 July 2004 - 10:55 PM

By the end of the month I will have completed my relocation from Texas to AZ which was begun by my layoff. . .

I've unloaded my house in TX, and will be debt-free in AZ. My buyer is a sheeple indisguisably relishing how they have predated on my misfortune and scooped my domicile. Sucker.

Only trying to decide now how much of my reclaimed equity to put into metals, and how much to keep in cash.

People sometimes say here, "How can you root for TEOTWAWKI?" I just want redemption that I was right ( we all will have been right ) in addition to the giddy feeling of skating so close to the edge of disaster and back again. . .

Have you been preparing? Have you been scoffing at Hyper? I admit it: I am still wasting money playing golf at these dam' Arizona golf resorts. But I claim I will be as ready as anyone who is not Hyper, or Yobob, can be.

The owner of my rental had a condition that we could only go month-to-month for 3 months after the year rental is up --- Ha ha ha - They think Rents will be higher in a year !

hahahahahahahahahahahahahahahahahahahahahahahahahahahaha.

We turned off every other ceiling light in our office building today, because 20% of the electricity to Phoenix has been disrupted by a transformer-station fire. and two wildfires are endangering two other high-tension wires -- PHX might be down to 50% capacity in two weeks, for MONTHS.

hahahahahahahahahahahahahhahahahahahahahahahahahahahahahaha.

The whole western grid could collapse like it did in NY last summer. Entirely coinicident to any other economic, meterologic, sociologic, or politic impetus.

hahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha.

Do I expect to have this job in a year, or 2 years? No.
I only hope they give the chance to take a job and move to Prague, or India. I'm ready for one-last-adventure :lol:

#257 Guest_Icky Twerp_*

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Posted 08 July 2004 - 11:07 PM

Outage looms today, Friday

Today and Friday are make-or-break days for the Valley's weakened power grid.

Demand for electricity is expected to peak for the week, straining a system that is running on only three of its four pistons.

If demand exceeds supply, utilities will have to institute rolling blackouts to prevent a much larger power failure.

Utility officials are crossing their fingers, hoping the patchwork system will hold, and they credited a huge conservation effort on the part of consumers, businesses and state and local governments for keeping blackouts at bay.

"The response has been phenomenal," said Jan Bennett, APS' vice president of customer service. "We really need people to conserve over the next two days."

A July 4 fire knocked out power at the Westwing substation near Sun City, one of the Valley's four key power substations, and the situation could worsen dramatically if a wildfire damages one of the main electric supply lines feeding metro Phoenix.

The situation likely will remain tense through the summer. Crews hope to have one bank of transformers at the Westwing substation back in service by the weekend, but the other two banks will be out until replacement transformers can be found. It could be next summer until Westwing is at full capacity, leaving the Valley more vulnerable to power outages than usual.

If temperatures hit or exceed 112 degrees during the day, and if nighttime temperatures remain high, power demand could overwhelm the system.

And although firefighters have been able to keep wildfires away from critical power lines, the blazes near Payson and Flagstaff remain volatile.



#258 beardrech

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Posted 08 July 2004 - 11:12 PM

I lost my job today. Entire Miami office was closed down and everyone was given their walking papers. No warning, no severance, no nada.

Another friend down here is in the process of "training" his Russian replacement as his job is about to be outsourced.

Yet another friend here works for Siemens, which is closing it's Ft. Lauderdale software development office in August. At least he got some notice.

Explain to me again like I'm 5 years old how the economy is improving and jobs are booming?

Shit, I have to think of how I'm going to tell my wife and kids. This blows.

Twig--

I feel for you, was there a few years ago myself. Hang in there, you will land on your feet.

tWIG
i'M SEVENTY years old and consider myself a card carrying member of the Big D generation--an i must have been fired a dozen times in my life-Each one of which was always experienced as if let out on parole

You are about to enter a period of story-generating powers that will keep your children's children enthralled fo a lifetime--

The one thing you're obligated to do is promise yourself that you and the Mrs will not fight in front of the children--my mom,the quintessence of serenity, once through a dish at my father's head while he was running out the kitchen and it hit him squarely in the back of his head splitting it into two equal hemispheres, the sight of which scared the living shit out of me--

Reserve the bad stuff for after bedtime an make sure the kids rooms are soundproofedin some way because the indecipherable bellowing and screaming sound even more alarming than witnesing it in the flesh

The above advice is not necessarily adressed only to you for in all likelhood it doesn't apply
But like a fire extinuisher keep it handy just in case you or one of your friends walks up one morning with an unusual amount of hair growing around his neck and through his shirt collar==
beardrech-- :ph34r: :ph34r: :cry: I promise you that if it turns out as bad as some of us feel you still will look back and laugh--dont believe me ??? Wait

#259 Guest_Icky Twerp_*

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Posted 08 July 2004 - 11:18 PM

Layoffs at U.S. companies jumped 56 percent to 124,852 in June, up from 80,140 in May, according to Challenger, Gray & Christmas, an outplacement firm. The June layoffs marked the sixth time in seven months that job cuts totaled more than 100,000.

And let's not forget about the debt so many Americans are packing. According to the Federal Reserve Board, consumer credit debt hit an all-time record $1.59 trillion in May. That figure, which includes credit card debt and car loans but excludes mortgages, comes out to about $14,500 per household.


Consumer debt reaching critical mass

haven't even gotten to PruBear or FiendBear, yet, either . . . .

#260 The End

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Posted 08 July 2004 - 11:19 PM

End,

If Spoos bounce off the 200-day and back up to the 50-day (1118), that's a 38% retrace. That would make a lot of sense with this wave count...

That is what I am seeing Stained. Glad to see you seeing that as well. :wink2:

If more people were bearish I would look for a retrace of 50% or even 62% but, with so many people bullish, I rather set my sites on 38%. I, like larry Tomlinson have learned to not get exact and give 3 points of slippedge, ergo, the 1115-1118 target.
NONE of what I type, should be taken as financial advice.

And when you loose control, you'll reap the harvest that you've sown
And as the fear grows, the bad blood slows and turns to stone
And it's too late to loose the weight you used to need to throw around
So have a good drown, as you go down, alone
Dragged down by the stone.


--Waters

#261 The End

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Posted 08 July 2004 - 11:27 PM

IPIX wants to run. Bought some for peeps at 10.86 today.Looking for 14+ on a Nazzie bounce.

http://bigcharts.mar...ime=7&x=24&y=15
NONE of what I type, should be taken as financial advice.

And when you loose control, you'll reap the harvest that you've sown
And as the fear grows, the bad blood slows and turns to stone
And it's too late to loose the weight you used to need to throw around
So have a good drown, as you go down, alone
Dragged down by the stone.


--Waters

#262 Brisbane Bear

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Posted 08 July 2004 - 11:30 PM

I think I said something yesterday similar to what Sinclair said today...

The interests of the Russian people and their personal finances are not high on the scale of consideration when the authority of the government of Russia, which is now fully in the hands of former KGB personalties, is challenged.

#263 stanley

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Posted 09 July 2004 - 12:11 AM

Layoffs at U.S. companies jumped 56 percent to 124,852 in June, up from 80,140 in May, according to Challenger, Gray & Christmas, an outplacement firm. The June layoffs marked the sixth time in seven months that job cuts totaled more than 100,000.

And let's not forget about the debt so many Americans are packing. According to the Federal Reserve Board, consumer credit debt hit an all-time record $1.59 trillion in May. That figure, which includes credit card debt and car loans but excludes mortgages, comes out to about $14,500 per household.


Consumer debt reaching critical mass

haven't even gotten to PruBear or FiendBear, yet, either . . . .

Icky,

Good bear data, but a bit older, that was posted on July 11, 2001

#264 Guest_Icky Twerp_*

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Posted 09 July 2004 - 12:17 AM

dam', you boys, ENTERTAIN ME! . . .

-          Peter Schiff of Euro Pacific Capital is apparently also one of those guys who, like me, fears inflation more than he fears his wife coming at him with a meat cleaver in her hand and revenge in her eyes, because you can turn around and run like a scared cat from her. But there is no running from prices that rise higher and higher. He notes "Monday's 0.5 gain in the Personal Consumption Expenditure Index (the largest increase in 14 years) and today's unexpected sharp decline in the Chicago Purchasing Manager's Index (the biggest drop in 30 years), which included a sharp rise in its prices paid index (the highest percentage reporting higher prices in 16 years), continues to provide compelling evidence that the Fed is well behind an accelerating inflation curve in an already decelerating economy (stagflation)."

Stagflation, which is a term meaning "Economic stagnation and price inflation." Either one is bad, and together they are the worst of all possible worlds.

To show you what a liar I am, I now say that stagflation is NOT the worst of all possible worlds. I regret to report that wages are rising, but less than prices are rising. So with economic stagnation, AND rising prices, AND falling real wages, it would surely seem that now, at last, we have the worst of all possible worlds.

There are those, of course, who actually think that things will always work out for the best, and that all we have to do is be patient, and things will, as they believe work out. They will not. And you don't have to believe me, because Mr. Schiff is standing right here, and without further ado I turn the microphone over to him so that he can explain it to you. "The longer rates stay too low," he says "the worse inflation gets, and the higher future interest rates will have to climb to contain it. Also, the longer the Fed keeps rates artificially low, the more floating-rate debt Americans will accumulate, and the greater the ultimate economic burden will be in servicing that debt. If the Fed's measured approach is intended to spare the economy from dealing with the full impact of this burden today, it succeeds only at the expenses of imposing a far greater burden tomorrow."

And it is not just Mr. Schiff and me talking about this inflation thing. Everywhere I look, inflation is beginning to be a serious topic, and the central banks of the world are acting like they are being taken completely by surprise. Some of them are making face-saving, nervous, baby-step, precautionary protective moves, but nobody is hitting the panic button but me.

That will soon change. Welcome to hell.


Daily Reckoning / Mogambo Guru

#265 Guest_Icky Twerp_*

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Posted 09 July 2004 - 12:19 AM

Icky,

Good bear data, but a bit older, that was posted on July 11, 2001

Ouch . . .

is my face red. . .

I got to always remember to put some ice in my white wine. . .

#266 brian4

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Posted 09 July 2004 - 12:20 AM

G'Nite all see you in the morning-the fat lady hasn't sung yet and it ins't over till she dose is it??

#267 Pee Brain

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Posted 09 July 2004 - 01:23 AM

only problem is that the burrito was so huge it made me kinda sick all day.  it weighted pounds not ounces - probably a 1.5 days entire calorie intake in one sitting

Jeez Pee, there's no law saying you have to eat it all in one sitting... :rolleyes:

Twig, sorry to hear about your job but Stoolies are survivors. I bet you'll be thinking your employer did you a favour down the track... B)


AB,

it was free, what moe can i say - after i realized i was getting a free lunch, i skipped breakfast! i had to eat it all. it didnt really hit me until later, it was just too much food. im not a big eater, but not having eaten breakfast delayed the connection between my stomach, my eyes and my mouth.

are you settled in the outback?
Iat least we're all safe for now. thank God we're in a bowling alley.

#268 zensmoke

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Posted 09 July 2004 - 02:21 AM

MasterCard stops servicing Guta Bank cards
RBC, 08.07.2004, Moscow 19:31:32.MasterCard has stopped servicing credit cards issued by Creditrustbank and Paveletsky bank (affiliated members), as well as Guta Bank (a principal member). Like other international payment systems, MasterCard is concerned about the recent developments on the Russian market and is going to enhance the integrity of its system of payments.
http://www.rbcnews.c...708193132.shtml

#269 zensmoke

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Posted 09 July 2004 - 02:30 AM

Russian bank fears $700m client withdrawals
By Andrew Jack in Moscow and Charles Batchelor in London
Published: July 8 2004 21:59 | Last Updated: July 8 2004 21:59

The head of Russia's largest privately-owned bank warned on Thursday that up to half of its retail deposits could be withdrawn by nervous customers in coming weeks as a result of turmoil in the country's financial sector.


Peter Aven, president of Alfa Bank, said his bank was supported by shareholders and could honour all demands. However, he believed that up to $700m (565m) might be withdrawn and that it could take a month before deposits were returned.

His comments came as Moody's Investors Service warned it may downgrade the long-term foreign currency ratings of 18 Russian banks. The ratings agency's list included large groups such as Alfa, MDM, Nikoil IBG, Petrocommerce and Zenit.

http://news.ft.com/s...d=1087373592589

#270 zensmoke

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Posted 09 July 2004 - 02:44 AM

General Electric Earnings Conference Call (Q2 2004)
Scheduled to start Fri, Jul 9, 2004, 8:30 am Eastern
http://biz.yahoo.com/cc/7/43857.html





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