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B4 The Bell, Thursday September 2


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#1 Hiding Bear

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Posted 02 September 2004 - 06:55 AM

:D Welcome to B4 The Bell! :D

Calm down bears. Four years into a bearish move in the market where 1000 companies have gone to zero we are still debating whether a collapse is taking place. It is. We are here to deal with that the best way possible.

From this point forward any posts that do not meet the guidelines specified by Doc or B4 will be deleted without notice or explanation. I have a real job to do every day, and unfortunately I won't have time to explain every move I make.
Regular forum members should have a good idea of what those rules are. New members - well pretty much every goes unless it is offensive to other forum members, some individuals or attacks a group of people.

Defections from the Bush team coming:

But you also know some of what you won't get in foreign and security policy in a second Bush term. You won't get Colin Powell back as secretary of state. His absence from the New York GOP gathering and his low-to-invisible profile this summer after a brief foray to Sudan seem to confirm his wishes not to serve in a Bush 43/II administration and not to contribute to its happening.

Condoleezza Rice is ready to move on from her post as national security adviser. A nod from Bush will make her Powell's successor and elevate Steve Hadley, her deputy, into Rice's current job. Defense Secretary Don Rumsfeld also may be ready to call it quits after a draining, controversy-filled four years and a plethora of scandals at the Pentagon.

This movement will mean little if Cheney continues to have the last and often decisive word with Bush on foreign policy decisions. But the signs increase that this is unlikely to continue to be the case, in the wake of the problems encountered in Iraq and because of Bush's growing confidence on foreign policy.

http://www.washingto...9-2004Sep1.html

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#2 machinehead

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Posted 02 September 2004 - 07:15 AM

:D Welcome to B4 The Bell! :D

Calm down bears.  Four years into a bearish move in the market where 1000 companies have gone to zero we are still debating whether a collapse is taking place.  It is.  We are here to deal with that the best way possible.

Ditto.

If the best they can do during the summer doldrums is to hold the broad market flat (and the SOX just above a 12-month low), then the next volume-driven down phase is gonna be a humdinger.

While all the central banks are complimenting its royal finery, a little kid in the back is whispering to his mom that the Peachback Dollar has no clothes! :o

As Hayek was fond of pointing out, economic calculation is impossible in a socialist economy. And he wrote that when there was still a vestigial gold standard, complete with silver dimes.

A economy whose assets are denominated in notional dollars, created on whim, with no value anchor whatsoever, is an illusion erected on an illusion. A mere puff of wind can, and will, blow it over.

Enjoy the Peachback Paper Paradise while you can, because we won't have it to kick around much longer. (And then what are us curmudgeons going to complain about?) :lol:
"GOLD -- it's not just for misers anymore."

"Dollahs -- fire-starters for the K-wave winter." - Drano

"Three humps and a dump." - anotherone, 21 SEP 2004

"No gold was harmed in the making of this movie." - Bizarro Greenspan

[i]"Da Track. Da place where Morons bet on Animals Controlled by Criminals."
- our jickiss

#3 Hiding Bear

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Posted 02 September 2004 - 08:14 AM

Well yobob1 and some others here won't be surpised by this:

DETROIT, Sept. 1 - General Motors and Ford Motor said today that they would cut car and truck production in the fourth quarter by as much as 7 percent because vehicles were piling up unsold in inventory. Each company experienced a sharp drop in sales last month, along with the auto industry as a whole, new figures released today show.

According to Ward's AutoInfoBank, the average number of new cars and light-duty trucks sold daily last month fell by 5.6 percent from August 2003.

Even Toyota Motor, usually the industry's most consistent seller, suffered a slump in August, with sales off 2.8 percent over all in the Ward's report. Sales of the market-leading Camry sedan fell 17 percent, and Toyota's sport-utility models were down 17.9 percent.

The Chrysler unit of DaimlerChrysler was a significant exception to the trend, posting a small increase, 1.8 percent, in the month, largely on the strength of its popular 300C sedan and the new Dodge Magnum station wagon. Car sales at Chrysler rose 21.9 percent, though truck sales were off sharply.

Industry executives said the calendar was partly to blame for the overall decline, with none of the Labor Day weekend falling in August this year; they also cited the effects of Hurricane Charley and the difficult comparison with an unusually good August last year.


http://www.nytimes.c...ss/02sales.html

Apparently the little blip up in July retail sales was followed by a real downturn, at least in inflation adjusted terms, in August. :o

Wal-Mart's Same-Store Sales
Increased 0.5% in August

A WALL STREET JOURNAL ONLINE NEWS ROUNDUP
September 2, 2004 8:10 a.m.

Wal-Mart Stores Inc.'s August same-store sales rose 0.5%, after the company ratcheted down its estimates throughout the month, citing store closures caused by Hurricane Charley and slow back-to-school business.



#4 Bearman

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Posted 02 September 2004 - 08:22 AM

about lastnite posts I side with this

Brian,

I normally try to keep quite as my political veiws differ from most of the Stool. But, Hyper/Miranda is out of line and offensive to many. I like to read his messages as there is truth in them. BUT, he also is a bore and his superiority over us unwashed masses has became tedious and repeatative.

" Can't we all just get along?"

#5 Bearman

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Posted 02 September 2004 - 08:25 AM

Frans alive and well :o

http://www.ssd.noaa....t-ir4-loop.html

#6 orvack

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Posted 02 September 2004 - 08:27 AM

"I don't think we can win the war on terror."
- Bush

The war has lasted for most of 10 years, and with each year that passes, Islamist separatists have had to sink to ever greater depths of brutality to get their cause noticed.

Chechnya - a war the Kremlin reignited to boost the political career of an unknown former KGB officer, Vladimir Putin - today returns to haunt the Russian president.

Yesterday's seizure of a school in the southern town of Beslan, in the volatile republic of North Ossetia, caps a bloody week for Mr Putin, whose usual take on the conflict is that it is "getting better".

Two years ago Moscow faced an enemy with a clear leader who sought a basic and definable objective: Chechen independence. Now it has allowed this enemy to morph into extremists who are ready to die - and kill anyone from soldiers to schoolchildren - to punish Russia and bring infinite holy war to it. 

Two years ago, Moscow had someone with whom it could negotiate. Now, in Beslan, it faces impossible demands

http://www.guardian....1295478,00.html



#7 Hiding Bear

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Posted 02 September 2004 - 08:30 AM

More Yukos problems:

MOSCOW, Sept 2 (Reuters) - A Moscow court has acceded to a request from the Public Prosecutor to lay claim to 76 billion roubles ($2.6 billion) on bank accounts belonging to oil group Yukos, the company said in a statement on Thursday.


The statement said: “The arrest paralyses the productive capacity of Yukos,” adding that it prevented the company from settling accounts and from paying salaries to its employees.

A Yukos spokesman said the latest court ruling effectively froze all of the company’s bank accounts, including those of affiliate companies, whereas an earlier freeze order only applied to Yukos’ parent company accounts.

“The arrest led to a complete blocking of the accounts of subsidiary companies and deprived them of the possibility to carry out any transactions, including payments of salaries, taxpayments and payments related to current operations,” said the statement.

It added that the court decision would bring regional operations grinding to a halt and could lead to a social unrest among people who depended on the company for their livelihoods.[/

http://news.ft.com/c...000e2511c8.html

#8 Lock Limit Down

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Posted 02 September 2004 - 08:32 AM

Europe leaves rates unchanged
Now thats a shocker!
I am overwhelmed with sadness having read what happened last night.
Starting last weekend, some of our brighter lights, I believe, have overreacted to posts that were NOT intended to insult, demean or encourage bad karma. The brightest and best reside here. Lets not let the Jekyll destroy this place we call home. We are going to need each other in what will be a very turbulent and troubling chapter in history.

Mike. Don't even think about leaving. You are amonsgt good friends here. B4 would suffer a huge blow should you move on.

HT I know you in a different light as we have met. I have always had a huge appreciation for your input. I can understand how some may misinterpret your messages and links. This I believe is not your intention. Keep posting. Few understand usury the way you do and again it would be a great loss should you choose to go elsewhere.

Tom. Don't ever stop. You are one of the kingpins. Your ability to cut through the crap never ceases to amaze me.

Mj. I don't know what happened but your input will be sorely missed. I hope you reconsider.

Mark. You and Doc started all this. Get your ass back here. You know how valuable you are to each and everyone of us.

The intelligence, wit, humor and insight here is incomprehensible. Lets suck it all in and move on.

Now lets go bull hunting!
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"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered." --- Thomas Jefferson

#9 longOnUranus

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Posted 02 September 2004 - 08:40 AM

NEW YORK (CNN/Money) - Wal-Mart said Thursday that August sales at stores open at least a year came in at the low end of its forecast, citing Hurricane Charley and a late Labor Day that hurt back-to-school business.


"The dog ate my customers" excuse

#10 orvack

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Posted 02 September 2004 - 08:42 AM

DJ * US Jobless Claims +19K To 362K Aug 28 Week

Economists expected 339 000k

Can't wait for tomorrow.

#11 Calculus

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Posted 02 September 2004 - 08:45 AM

The UK is starting to experiment with Satellite tracking for criminals. Basically for pedos and the like.

I wonder how long it will take the US govt to slap these kinds of things on the hard-core ringleaders of all the protest groups/marches.

Don't worry folks, it's all designed to SAVE LIVES and protect your FREEDOM....

BWAHahahaha

http://news.bbc.co.u.../uk/3620024.stm

#12 orvack

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Posted 02 September 2004 - 08:45 AM

Oct.'04 CRUDE OIL, ACCESS
44.61
+0.61

#13 Bearbones

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Posted 02 September 2004 - 08:53 AM

Looking at the recent history of jobless claims and productivity it would appear that we should send out the welcome wagon for stagflation. The equity market is still priced for high growth and low inflation. Ain't happening.
The inflation is mostly in commodities, the kind that squeezes corporate profits the latter which was barely positive in the last quarter.

#14 orvack

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Posted 02 September 2004 - 08:55 AM

So I guess the anal cysts didn't include Charley's impact in their estimate.
Move along.

The number was above the 340,000 that Wall Street anal cysts had been expecting, BUT a Labor Department anal cyst attributed much of the gain to people seeking benefits in the aftermath of Charley, which slammed into south Florida last month.



#15 lucy

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Posted 02 September 2004 - 09:01 AM

Just got back from NYC. Will forever be indebted to Mt Siniah and the brave doctors who operated on my brother when Duke wouldn't. It was quite emotional. Did get to go downtown and wave a few banners for Bush, and buy some memoribilia from the convention.
lucy





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