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Thread: Market Crash Looming

  1. #2701
    Quote Originally Posted by Sarge View Post
    H,

    I am afraid many more to come yet before this gets better. They blew the chance of a quicker recovery by buying Frannie, Freddie, GM, Chrysler and the bankers.
    In regards to GM/GMAC and Chrysler...

    I would like to know the true facts on their repayments to the government off of profits and revenue, not the earnings from gambling on the propped-up Wall St Casino with the 10's of billions in their escrow accounts or government contracts for $100's of millions in purchases.

    Betcha most of the repayments/earnings are the gambling winnings and all the tax credits/write offs that CONgress gave corporations, not selling cars. Same for GMAC aka Ally Bank.

    DNS resolves: http://www.gmacbank.com ==> http://www.ally.com/

    PS: Exxon's effective tax rate for Q2 is 20% (That's Federal, State, and Excise Taxes combined)
    Last edited by HOLLYWOOD; 07-30-2010 at 04:07 PM.
    The American Dream, Wake Up People, This is our country! <===click

    "All eyes are opened, or opening to the rights of man, let the annual return of this day(July 4th), forever refresh our recollections of these rights, and an undiminished devotion to them."
    Thomas Jefferson
    June 1826



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  3. #2702
    Northrop Grumman says it's laying off 173 people. Excuse me, Excuse me, if they are no longer going to provide food service then it is job cuts. Cut the crap.

  4. #2703
    I hate seeing private schools close, all the while the government holds a gun to your head demanding more money for the public indoctrination system.

  5. #2704
    Quote Originally Posted by angelatc View Post
    I actually did, and obviously wish I had done more.
    I got out of IVN and AGQ. Big strength today was enough for me.
    "Your mother's dead, before long I'll be dead, and you...and your brother and your sister and all of her children, all of us dead, all of us..rotting in the ground. It's the family name that lives on. It's all that lives on. Not your personal glory, not your honor, but family." - Tywin Lannister




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  7. #2705
    Should be good for a 50+ point rally on the Dow today.

    Pending home sales down to nine-year low

    http://www.google.com/hostednews/afp...gWfpFgY3tkXKrw

    U.S. Factory Orders Fall More Than Forecast in Sign Manufacturing to Cool
    http://www.bloomberg.com/news/2010-0...g-to-cool.html

    Consumer Spending, Incomes Flat in June; Saving Up
    http://www.cnbc.com/id/38535561

    Geithner: U.S. unemployment could rise - Reuters
    http://www.reuters.com/article/idUSN0314472020100803
    The American Dream, Wake Up People, This is our country! <===click

    "All eyes are opened, or opening to the rights of man, let the annual return of this day(July 4th), forever refresh our recollections of these rights, and an undiminished devotion to them."
    Thomas Jefferson
    June 1826



    Rock The World!
    USAF Veteran

  8. #2706
    The market has been creepy lately--huge rallies, shrugs off all the bad news (and there's plenty of it) with little to no loss, with no real substance behind its growth. I have a hard time believing there are enough mad bulls willing to take casino-like risks out there to drive it up so high, so fast.

    I wonder if the Fed or Obama's buddies in these financial firms have found some way to prop things up artificially for an extended period? If so, expect to see the market fly sky high before November. I guess we will see what this month brings.

  9. #2707
    Quote Originally Posted by Lovecraftian4Paul View Post
    The market has been creepy lately--huge rallies, shrugs off all the bad news (and there's plenty of it) with little to no loss, with no real substance behind its growth. I have a hard time believing there are enough mad bulls willing to take casino-like risks out there to drive it up so high, so fast.

    I wonder if the Fed or Obama's buddies in these financial firms have found some way to prop things up artificially for an extended period? If so, expect to see the market fly sky high before November. I guess we will see what this month brings.
    http://www.ronpaulforums.com/showthread.php?t=255301

    There may not be a crash as long as the majority of the market moves are just computers at the big banks and hedge funds trading with each other and artificially bumping up stock prices. It's mostly just manipulation at play already.
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  10. #2708
    Quote Originally Posted by Lovecraftian4Paul View Post
    The market has been creepy lately--huge rallies, shrugs off all the bad news (and there's plenty of it) with little to no loss, with no real substance behind its growth. I have a hard time believing there are enough mad bulls willing to take casino-like risks out there to drive it up so high, so fast.

    I wonder if the Fed or Obama's buddies in these financial firms have found some way to prop things up artificially for an extended period? If so, expect to see the market fly sky high before November. I guess we will see what this month brings.
    What's the "Witching Hour/Day" again...? The Magical date I think is August 10. That's when THE FED is putting the counterfeiting presses down at the Potomac into overdrive... Quantitative Easing

    So Wall Street investors know the FED/TREASURY/Uncle Sugar are going to keep the rallies going for all the Pension Funds, Local/State/Federal investments and debts gambled at the Casinos, to keep Big Government afloat.
    The American Dream, Wake Up People, This is our country! <===click

    "All eyes are opened, or opening to the rights of man, let the annual return of this day(July 4th), forever refresh our recollections of these rights, and an undiminished devotion to them."
    Thomas Jefferson
    June 1826



    Rock The World!
    USAF Veteran

  11. #2709
    Jobless Claims. Consensus was for 455K. Get this, actual 479K. Not getting better gang.

  12. #2710
    July retail sales weak. Consumers still pulling back on spending.

    Next reports will show sales tax revenues are down.

    Bennie and Timmy you have more problems inbound.

  13. #2711
    All this bad news and the market still goes down .1%. What the hell is keeping it up?

  14. #2712

    stuff

    They were forecasting 9.6% unemployment. Its lower than expected. So its not as bad as we originally thought. These are healthy numbers.. It shows people are continuing to actively look for work, and temporary census workers are back actively looking for work. The private sector is actually steady if not slowly gaining. But it was still unacceptable for Bush to have a 4.7% unemployment rate..



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  16. #2713
    The last hour of frenzied buying was amazing to see today. Rammed the market back up into near positive territory by the end from a 150 point loss. Seems like NOTHING can bring this thing down into triple point losses anymore.

    Might be a good time to buy and then sell shortly before election. I suspect the DOW and other indexes are going to be pumped up pretty high, as much as possible, by artificial means. Otherwise, the administration has nothing else to point to in favor of a recovery going into November.

  17. #2714
    Quote Originally Posted by Lovecraftian4Paul View Post
    The last hour of frenzied buying was amazing to see today. Rammed the market back up into near positive territory by the end from a 150 point loss. Seems like NOTHING can bring this thing down into triple point losses anymore.

    Might be a good time to buy and then sell shortly before election. I suspect the DOW and other indexes are going to be pumped up pretty high, as much as possible, by artificial means. Otherwise, the administration has nothing else to point to in favor of a recovery going into November.
    That's the plan I am going with. I expect a 12K DOW before November, but I will be out b4 election day.
    "The journalist is one who separates the wheat from the chaff, and then prints the chaff." - Adlai Stevenson

    “I tell you that virtue does not come from money: but from virtue comes money and all other good things to man, both to the individual and to the state.” - Socrates

  18. #2715
    Quote Originally Posted by Sarge View Post
    July retail sales weak. Consumers still pulling back on spending.

    Next reports will show sales tax revenues are down.

    Bennie and Timmy you have more problems inbound.
    Got any stats about summer vacations, travel, spending? Just curious.
    Quote Originally Posted by Torchbearer
    what works can never be discussed online. there is only one language the government understands, and until the people start speaking it by the magazine full... things will remain the same.
    Hear/buy my music here "government is the enemy of liberty"-RP Support me on Patreon here Ephesians 6:12

  19. #2716
    Also with an increase in the stock market comes high energy and commodity prices. It will be interesting too see how the public can handle $3.50+ a gallon if the market goes to 12,000.

    When gas was $4.50 a gallon, people had jobs and easy credit. Its a little different this time.

    Quote Originally Posted by heavenlyboy34 View Post
    Got any stats about summer vacations, travely hspending? Just curious.

  20. #2717
    Quote Originally Posted by Original_Intent View Post
    That's the plan I am going with. I expect a 12K DOW before November, but I will be out b4 election day.
    YEAH... Everybody is all in. With the markets propped up buy a slew of Fascist policies, technically neg interest for the Wall st banks, etc.

    Bozos in Washington DC have written favorable yax laws on the profits of the past 5 years can be written off against losses of the past 2 for their corporatist masters

    It's a race to 12K because come January 1... all those killer tax hikes slam the gavel (Cap Gains, Interest, Bank Fees, Inheritance, FED, State, Gratuity Living in America Tax, etc)

    SO... ride that wave all the way to NLT Nov 30th. After that, everyone will be speculating with their ichy trigger fingers to sell at the peak. Be Interesting to see what Rahm Emanuel and the PPT do.

    Aug 5th US Treasury Daily statement.

    https://www.fms.treas.gov/fmsweb/vie...e=10080500.txt

    Highlights: Total Public Debt Outstanding

    Today AUG 5, 2010; $13,310,887,000
    AUG START Bal.: $13,237,727,000 $73.16 Billion in Debt so-far in August 2010
    FY2010 Start: $11,909,829,000

    Deficit Debt to Date FY2010: $ 1,401,058,000
    Last edited by HOLLYWOOD; 08-10-2010 at 08:15 AM.
    The American Dream, Wake Up People, This is our country! <===click

    "All eyes are opened, or opening to the rights of man, let the annual return of this day(July 4th), forever refresh our recollections of these rights, and an undiminished devotion to them."
    Thomas Jefferson
    June 1826



    Rock The World!
    USAF Veteran

  21. #2718
    I guess 8:00 AM Monday morning will show us whether or not "Meltup Monday" is the new norm.

  22. #2719
    bump.

    Why can't everybody else leave everybody else alone?

  23. #2720
    Well, America has never left the Recession(with the exception of the Banking Cabal and Federal Government), but here's the propaganda of the Banking Cartel (FED) themselves.
    CEOs Less Confident in Recovery
    http://blogs.wsj.com/economics/2010/...t-in-recovery/

    San Francisco Fed Paper Warns Odds of Recession Rising
    http://blogs.wsj.com/economics/2010/...ession-rising/

    The risk the U.S. economy could fall back into recession is on the rise.
    A new report from the Federal Reserve Bank of San Francisco warns the economic outlook “is likely to deteriorate progressively starting sometime next summer.” Over the shorter run, the paper, written by Travis Berge and Oscar Jorda, argues the odds of falling into recession are relatively low. But over the next two years it appears the odds are only slightly better than even that an already-tepid recovery will continue.
    The paper, published Monday, arrives just ahead of a potentially drama-filled Federal Reserve monetary-policy meeting. For many months now, market participants have gone into these gatherings fairly confident of the outcome, expecting policy makers to stick to their zero% interest rate stance amid pledges to keep interest rates low for an “extended period.”

    But Tuesday’s Fed meeting has become fraught with uncertainty as the U.S.’s already-modest recovery looks to be running out of steam. While Fed chief Ben Bernanke has allowed there are additional steps the central bank could take to promote growth, he has appeared to be reluctant to employ them, adopting a patient stance in regards to the economy’s emergence from recession. Friday’s release of weak July jobs data, along with press reports, has helped reignite a market debate over whether the Fed will take fresh steps to help the economy, even though many economists disagree that anything exciting will happen.

    Economists’ caution is in part motivated by the fact the Fed has no good options left to it, should it want to again stimulate growth. Interest rates can be cut no further. The Fed could again buy mortgage debt, but borrowing rates are already at historic lows. The central bank could buy significant amounts of government bonds, but it would risk its inflation fighting credibility by appearing to monetizing the debt. The Fed could in theory drive back into the economy the $1 trillion in bank reserves now on its balance sheet by suspending the interest it pays banks for that cash. But that, too, is problematic and there’s no guarantee banks would even want to loan that money out.

    Policy makers face considerable uncertainty in the outlook. The paper states “at two years out, the odds of recession vary from almost three times more likely than expansion, to expansion being almost five times more likely than recession.”
    The findings are based on data released as part of the Conference Board’s monthly leading economic indicators report. That series takes an array of existing numbers and seeks to divine the economy’s future trajectory. The June LEI was down, leading the private research outfit to warn of slower growth through the fall.

    The San Francisco Fed paper said that even with the darkening outlook, there’s time to change course. “Economic policy can strongly influence the outcome,” the researchers said. While they did not offer any suggestions, they added, “the policies that are adopted today could play a decisive role in shaping the pace of growth.”
    Berge is a graduate student at the University of California, Davis, and Jorda is a professor at the university and a visiting scholar at the San Francisco Fed...
    Last edited by HOLLYWOOD; 08-10-2010 at 08:26 AM.
    The American Dream, Wake Up People, This is our country! <===click

    "All eyes are opened, or opening to the rights of man, let the annual return of this day(July 4th), forever refresh our recollections of these rights, and an undiminished devotion to them."
    Thomas Jefferson
    June 1826



    Rock The World!
    USAF Veteran



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  25. #2721
    And... it begins all over again Depression 3.0

    Barclays Capital cuts 400 jobs, slowdown set to squeeze banks

    http://sify.com/finance/barcap-cuts-...loOggbjac.html


    Sea Island Resorts Co. to file Chapter 11, sells all properties
    http://www.ajc.com/business/sea-isla...to-589188.html
    August 10, 2010
    Sea Island Co., operator of the famed Georgia coastal resort since the 1920s, will file for bankruptcy protection today and announce a deal to sell most of its assets, according to the company’s press release.

    Unemployment drives more home sellers to cut price

    http://news.yahoo.com/s/nm/20100811/...sing_pricecuts

    Owners cut prices on one-quarter of U.S. homes listed for sale in July Sellers in the 50 largest cities slashed $30.1 billion from prices on houses on the market as of August 1, up from $27.3 billion in the prior month, San Francisco-based Trulia said in a report provided to Reuters before official release.
    Unemployment near 10 percent, wage cuts, restrictive lending practices and home values that have fallen below their mortgage balances have left many potential buyers unable to take advantage of low rates.
    "With one out of every four homes experiencing at least one price reduction, sellers are feeling no relief this summer in a market climate of fewer qualified buyers and widespread uncertainty about the job market," said Pete Flint, Trulia chief executive.
    Last edited by HOLLYWOOD; 08-11-2010 at 04:44 AM.
    The American Dream, Wake Up People, This is our country! <===click

    "All eyes are opened, or opening to the rights of man, let the annual return of this day(July 4th), forever refresh our recollections of these rights, and an undiminished devotion to them."
    Thomas Jefferson
    June 1826



    Rock The World!
    USAF Veteran

  26. #2722
    Hadn't heard about Sea Island, thanks for the info...
    Why can't everybody else leave everybody else alone?

  27. #2723
    The mobs lining up for cheap housing in ATL are starting to get rowdy.

    Who coulda guessed it?

    http://www.ajc.com/news/atlanta/crow...ng-589653.html

  28. #2724
    Alright, I've been pretty bullish all summer and have fared well. Today I am going to take a small position in SRS, the inverse real estate fund (that has performed awfully).

    I think as more news about fannie/freddie being the only thing holding all of the real estate market up, other holds of real estate are gonig to try and sneak out of it, potentially driving up SRS a few points.
    "Your mother's dead, before long I'll be dead, and you...and your brother and your sister and all of her children, all of us dead, all of us..rotting in the ground. It's the family name that lives on. It's all that lives on. Not your personal glory, not your honor, but family." - Tywin Lannister


  29. #2725
    Quote Originally Posted by Cowlesy View Post
    Alright, I've been pretty bullish all summer and have fared well. Today I am going to take a small position in SRS, the inverse real estate fund (that has performed awfully).

    I think as more news about fannie/freddie being the only thing holding all of the real estate market up, other holds of real estate are gonig to try and sneak out of it, potentially driving up SRS a few points.
    careful! I lost some in that a while ago. I wouldn't recommend holding onto it for more than a day unless you are prepared to lose money.

    These things drain money like crazy. If you have a few good weeks or days on the market, this thing could lose half its value.

    IMO, I'd stay away, but you probably know what to do.

    GOODLUCK!!
    Tu ne cede malis sed contra audentior ito

  30. #2726
    China orders 2,000 firms to shut overcapacity by end-Sept
    http://www.chinadaily.com.cn/busines...t_11119520.htm

    Dollar Hits 15 Year Low Against Yen, Dealing Blow to Japan’s Economy as it Slows
    http://www.nytimes.com/2010/08/12/bu...2yen.html?_r=1



    Ahhhh, Rotating the Keynesian Kooks as policies and programs fail. This way the lynch mobs have a tougher time finding who to blame.

    Christina Romer, chair of the White House Council of Economic Advisers, has resigned her post to return to her old job as an economics professor at the UC Berkeley. Her resignation is effective Sept. 3.
    http://www.washingtonpost.com/wp-dyn...l?hpid=topnews
    President Obama said in a statement that Romer's decision was guided by "family commitments." Romer has long signaled that her time in Washington would be temporary; her husband, economist David Romer, has been on leave from his own post at Berkeley and their teenage son is due to start high school this fall.
    Romer is also considered a serious candidate to replace Janet Yellen as president of the Federal Reserve Bank of San Francisco, one of the most important jobs in the Fed system. Yellen was recently named vice chairman of the Federal Reserve.
    Romer, 51, is one of the nation's leading scholars of macroeconomic history and an expert on the Great Depression. She was tapped by Obama to serve as chief economist for the White House in November 2008 as the newly elected president was devising a response to a global economic panic.

    Romer was instrumental in crafting the $862 billion economic stimulus package
    that Obama signed shortly after being sworn into office. She co-wrote a paper that predicted the stimulus would prevent unemployment rates from rising above 8 percent, a stance that has come under attack by Republicans who call the package a failure. Though most economists say the stimulus helped prevent a more severe economic crisis, the jobless rate has hovered near 10 percent and Romer's most recent forecast predicts that it will not drop below 8 percent until the end of 2012.
    (Jobless rate stays at 9.5 percent after slow July hiring)
    Respected by her administration colleagues and by Fed Chairman Ben S. Bernanke, Romer was nonetheless frustrated by life in Washington, according to administration sources. After winning swift approval of the stimulus, the administration struggled to push other initiatives through a balky Congress as concern heightened about mounting deficits.

    This year, Romer emerged as a strong advocate for additional federal spending to stimulate a sluggish recovery. But her top priority, state aid to preserve teaching and other public-sector jobs, languished for months on Capitol Hill. Slashed by more than half, it won Senate approval
    Thursday and is headed for final passage next week in the House.
    Obama and his chief economic adviser, Lawrence H. Summers, praised Romer on Thursday, noting that she will continue to serve the administration as a member of the Economic Recovery Advisory Board led by former Federal Reserve chairman Paul Volcker.
    "Christy Romer has provided extraordinary service to me and our country during a time of economic crisis and recovery," Obama said in a statement. "The challenges we faced demanded more of Christy than any of her predecessors, and I greatly valued and appreciated her skill, commitment and wise counsel." Added Summers: "Christy has been an extraordinary friend and colleague at the White House. From jobs and recovery to health care and financial reform, she has been central to everything the administration has done in the economic area."

    It was not immediately clear who would replace Romer. White House observers called Austan Goolsbee, a member of the Council of Economic Advisers, an obvious choice, but that would leave Obama without a woman on his senior economic team.
    Romer said in a statement that she looks forward to returning to teaching but called serving Obama "the honor of a lifetime."
    "The opportunity to help shape economic policy these past 20 months, and to work with the other members of the economic team and my colleagues on the CEA, is one I will always cherish," she said.
    Last edited by HOLLYWOOD; 08-11-2010 at 02:26 PM.
    The American Dream, Wake Up People, This is our country! <===click

    "All eyes are opened, or opening to the rights of man, let the annual return of this day(July 4th), forever refresh our recollections of these rights, and an undiminished devotion to them."
    Thomas Jefferson
    June 1826



    Rock The World!
    USAF Veteran

  31. #2727
    Trade gap likely points to slower economic growth

    WASHINGTON (AP) -- A decline in exports and a sharp rise in imports pushed the U.S. trade deficit in June to its widest point since October 2008, raising new concerns about the weakening economic recovery.

    The $49.9 billion gap is worrying economists, who fear it means the U.S. economy grew at half the rate in the April-to-June quarter than first estimated by the government last month.

    The trade deficit jumped 18.8 percent in June compared to May, the Commerce Department reported Wednesday.

    While the rise in imports suggests the U.S. economy is growing, the drop in exports is a troubling sign for U.S. manufacturers who rely on overseas markets.


    http://finance.yahoo.com/news/Trade-gap-likely-points-to-apf-688159912.html?x=0&sec=topStories&pos=7&asset=&cco de=

  32. #2728
    Quote Originally Posted by HOLLYWOOD View Post
    This year, Romer emerged as a strong advocate for additional federal spending to stimulate a sluggish recovery. But her top priority, state aid to preserve teaching and other public-sector jobs, languished for months on Capitol Hill.
    What the heck? That sounds more like a politician's priority, not an economist's.



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  34. #2729
    Quote Originally Posted by HOLLYWOOD View Post
    China orders 2,000 firms to shut overcapacity by end-Sept
    http://www.chinadaily.com.cn/busines...t_11119520.htm
    China is such a mercantilist hack. They will pay the price.

  35. #2730
    "Your mother's dead, before long I'll be dead, and you...and your brother and your sister and all of her children, all of us dead, all of us..rotting in the ground. It's the family name that lives on. It's all that lives on. Not your personal glory, not your honor, but family." - Tywin Lannister


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