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Bears take em out big red for the day and the week


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#61 mdporter

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Posted 31 October 2009 - 03:09 AM

more fresh new green shoots. If the economy were improving, this shouldn't be happening, right?

Because of an unprecedented drop in sales tax revenue, the Valley Transportation Authority faces an operating deficit of $98 million over the next two years — and will consider cutting service, laying off workers, slashing employee benefits and diverting money from new projects to stay afloat.

The soaring deficit, disclosed in a report released Friday, is four times as great as predicted just four months ago. It amounts to about 15 percent of the agency's operating budget.

"We are looking at a crisis," VTA General Manager Michael Burns said. "Significant decisions will have to be made to maintain a relevant transit system. The situation is not good and is not getting better."


Here in silly-con valley the VTA has been in trouble before. They have a huge budget, well, had, it's about to get alot smaller. If employment is down then there is no reason to ride the bus, is there?

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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

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"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

#62 swordfish

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Posted 31 October 2009 - 04:37 AM

Someone presented here a vision aobut black monday at the end of NOV because of lower X-mas sale. That could happen.

I still believe that this theory is in play (peak in 16OCT +-one day, correction till 13 NOV +- one day, up till nov 23, and crash around dec 10)


link to theory
thespiritoftruth.blogspot.com/2009/10/dow-10000.html
yelnick.typepad.com/yelnick/2009/10/another-crash-call-is-2009-like-1929-and-1987.html
Jail, not bail!

#63 DrStool

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Posted 31 October 2009 - 09:44 AM

Don Coxe spends half of this week's broadcast talking about why while the American banks are falling apart, the Canadian banks are doing just fine. He gives the standard argument about more conservative practices. Doc, I believe you're not so sure about that?


My son in law is a risk manager for a Canadian institution. That's basically the story he gives me. By the way, he was the one who tipped me off in July 2007 that they weren't getting repaid on their CP holdings before the news hit the mainstream media, as you may recall. So he has some credibility.

On the other hand, my impression from spending half the year in Canada is that Canadians in general are a lot less interested in things like ferreting out fraud and corruption than Americans, which is really saying something, so my feeling is that the Canadian banks can put up a false front for longer and no one will question it. Their capital ratio requirements are more stringent than in the US, apparently, so that allows them a bit more cushion.

Canadians are unfailingly polite, sneaky basturds. Because of the tax structure, many are involved in some form of economic cheating as a matter of course. When I bought my property the seller insisted on a part of the payment in cash under the table because of the ridiculously high taxes on real estate transfers. That's very typical. People routinely steal cable or satellite TV signals. They routinely engage in black market goods transactions, or beating the customs laws. Fireclosure was a way of life in Shawinigan, Jean Chretien's hometown, for decades as the economy there sank into the abyss. Anglophone Canada is just as bad. I worked for a Canadian brokerage firm back in the 80s. Really nice polite people who will happily stab you in the back to make or save a buck.

So there may be some truth to the argument that they have less leverage, BUT, I also think that there's a lot going on there that we just don't know about. Fraud is a way of life in Canada. It is endemic, and ingrained in the Canadian economy and psyche.

Boy, am I gonna hear it now. :lol:

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#64 DrStool

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Posted 31 October 2009 - 09:58 AM

The guy in the bloomberg thing looks like one of those horror movie android automatons that will kill you with a single flick of the wrist.

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#65 Dharmaeye

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Posted 31 October 2009 - 10:00 AM

My son in law is a risk manager for a Canadian institution. That's basically the story he gives me. By the way, he was the one who tipped me off in July 2007 that they weren't getting repaid on their CP holdings before the news hit the mainstream media, as you may recall. So he has some credibility.

On the other hand, my impression from spending half the year in Canada is that Canadians in general are a lot less interested in things like ferreting out fraud and corruption than Americans, which is really saying something, so my feeling is that the Canadian banks can put up a false front for longer and no one will question it. Their capital ratio requirements are more stringent than in the US, apparently, so that allows them a bit more cushion.

Canadians are unfailingly polite, sneaky basturds. Because of the tax structure, many are involved in some form of economic cheating as a matter of course. When I bought my property the seller insisted on a part of the payment in cash under the table because of the ridiculously high taxes on real estate transfers. That's very typical. People routinely steal cable or satellite TV signals. They routinely engage in black market goods transactions, or beating the customs laws. Fireclosure was a way of life in Shawinigan, Jean Chretien's hometown, for decades as the economy there sank into the abyss. Anglophone Canada is just as bad. I worked for a Canadian brokerage firm back in the 80s. Really nice polite people who will happily stab you in the back to make or save a buck.

So there may be some truth to the argument that they have less leverage, BUT, I also think that there's a lot going on there that we just don't know about. Fraud is a way of life in Canada. It is endemic, and ingrained in the Canadian economy and psyche.

Boy, am I gonna hear it now. :lol:


Agree with you. I am citizen of both (prefer my present location for the future) and the polite, back stabbing is true.
Corruption is institutionalized in a major way.
The whole picture will change with freezing, starving in the dark. Now added starving part as to the future.

#66 DrStool

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Posted 31 October 2009 - 10:12 AM

well call me Emily Latella, BUTT...
anybody notice today's gold report link wasn't working, or did that happen after you all read it?


That is just so disheartening that no one told me about this before. I guess they got tired of reading my hyper bearish views on the gold stocks. That's too bad. I'm just trying to help people hold on to their capital.

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#67 DrStool

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Posted 31 October 2009 - 10:18 AM

It is widely believed in Shawinigan that Chretien and his cabal got very rich from a wide range of corrupt practices. I don't understand the details, not being fluent in French, and not knowing the long term history of the politics in the area, and I have no clue if there's even a shred of evidence. Obviously, the Liberals were taken down by a corruption "scandal", resulting in Harper and the conservatives forming a minority government.

I hear Alberta is a cesspool of corruption. Is that true?

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#68 Rationalize

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Posted 31 October 2009 - 10:39 AM

imagine a zero-div hyped up POS common based on nothing more than a search engine

living constantly just one all-nighter weekend away from opening up completely worthless on Monday morning

somewhere out there is a sophomore CS student that will do it

and that will be the end of googscamcrapcommon once and for all

visicalc

:lol: :lol: :lol:

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PARTY! NORTH KOREA! SATURDAY NIGHT! BYOF (bring your own food)

#69 Dharmaeye

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Posted 31 October 2009 - 11:00 AM

It is widely believed in Shawinigan that Chretien and his cabal got very rich from a wide range of corrupt practices. I don't understand the details, not being fluent in French, and not knowing the long term history of the politics in the area, and I have no clue if there's even a shred of evidence. Obviously, the Liberals were taken down by a corruption "scandal", resulting in Harper and the conservatives forming a minority government.

I hear Alberta is a cesspool of corruption. Is that true?


The present premier is very unpopular. He is a typical psychopathic politician of the political establishment so it is likely very high.
The focus tends to be on Federal corruption as it is located in the East (population center) and has always been raping the West since confederation. This is most visible in cash flows and train transportation costs of grains... rates. Also for example the Canadian Energy policy of 1980-2 fame destroyed the Western economy while really benefitting no one.

#70 DrStool

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Posted 31 October 2009 - 11:03 AM

Google is really a big advertising agency with a cell phone division. Pretty competitive businesses. My Google ad revenue is down about 80% from the peak a couple years ago.

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#71 I_Am_Madness

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Posted 31 October 2009 - 11:18 AM

Google is really a big advertising agency with a cell phone division. Pretty competitive businesses. My Google ad revenue is down about 80% from the peak a couple years ago.


How is the traffic to this site? Has it been down over the past few years? I do see a tremendous drop off in participants.
I see an explosion of trader blogs everywhere.
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#72 vitrofan

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Posted 31 October 2009 - 11:19 AM

Google is really a big advertising agency with a cell phone division. Pretty competitive businesses. My Google ad revenue is down about 80% from the peak a couple years ago.


Rolled over one of my S&P puts from March to December '10 for a $135.10 profit... Thanks Doc. I picked it up partially as a result of your previous Fed Report. Just about paid for my last quarterly subscription charge. If we do get a real crash this next month, I might even get out even on my other S&P Dec. '09 puts.
It's later than you think...

#73 I_Am_Madness

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Posted 31 October 2009 - 11:20 AM

I've been very bearish over the past 2-3 weeks.
But until the generals fall, we need to be cautious. We've seen these 200+ point drops before and it's where new highs have been pushed off from.

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#74 Speakeasy

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Posted 31 October 2009 - 11:30 AM

Being Saturday and taking a look back, we have at least one category making a new weekly high. Bank failures. We have 9 this week.

Bank Name City State CERT # Closing Date Updated Date
San Diego National Bank San Diego CA 23594 October 30, 2009 October 30, 2009
Madisonville State Bank Madisonville TX 33782 October 30, 2009 October 30, 2009
Bank USA, N.A. Phoenix AZ 32218 October 30, 2009 October 30, 2009
Community Bank of Lemont Lemont IL 35291 October 30, 2009 October 30, 2009
North Houston Bank Houston TX 18776 October 30, 2009 October 30, 2009
California National Bank Los Angeles CA 34659 October 30, 2009 October 30, 2009
Park National Bank Chicago IL 11677 October 30, 2009 October 30, 2009
Citizens National Bank Teague TX 25222 October 30, 2009 October 30, 2009
Pacific National Bank San Francisco CA 30006 October 30, 2009 October 30, 2009

FDIC
Behind every great fortune there is a crime. ~ Honore de Balzac
One must live the way one thinks, or end up thinking the way one lives
~ Paul Bourget

#75 DrStool

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Posted 31 October 2009 - 11:43 AM

Not A Benign Pullback- Professional Edition


by Lee Adler, Saturday, October 31, 2009, in Professional Edition, Today's Markets | Permalink |Comments (0) Edit Cycle based stock screening data was mixed on Friday, but the numbers remained deeply entrenched on the weak side overall. 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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