Let's Celebrate! The worst is behind us!

[LiveFree79]

MSM and talking heads are saying the market lows are behind us and the economy is going to recover sooner rather than later! Godbless the government bailouts and Paulson! CHEERS!

 

[RSLudlum]

WOOT WOOT Just in time for the Christmas sales pitch....Is Santa going to be stuffing all our stockings this year with stimulus checks??

 

[ghemminger]

I will be Excpecting 30 days of snowfall in SoCAL then

 

[Kludge]

Is Santa going to be stuffing all our stockings this year with stimulus checks??

Bush Clause better be -- after which, I expect Obama Clause to stuff my pockets with college grants -- y'know, you either have to be blind, black, or native to get a private grant these days.

 

[Sarge]

Yes, it is getting better,

http://www.rttnews.com/Content/AllEconomicNews.aspx?Id=762441

A guy on CNBC said construction projects are being stopped dead in their tracks.

Circuit City closing 155 stores. Oil demand falling off a clip. Yup it is getting better.

Wait until next reports.

 

[sevin]

People's attention spans are so short. A lot of people I know are already forgetting about the economic crisis because the news is so focused on the election, and since the world didn't fall apart overnight, they really think things will get better again. I keep reminding people that after the crash of '29, it took almost 3 years before unemployment reached 25%.

 

[Sarge]

I forgot to add that Broyhill Furniture just filed for bankruptcy.

 

[Bill M DC]

People's attention spans are so short. A lot of people I know are already forgetting about the economic crisis because the news is so focused on the election, and since the world didn't fall apart overnight, they really think things will get better again. I keep reminding people that after the crash of '29, it took almost 3 years before unemployment reached 25%.

Wait a minute. There's an economic crisis? An election? How can I watch "Dancing With the Stars" with all these distractions?

 

[ArchPaul]

Whew! Thank god!!! Now I can ignore the fact that manufacturing (whats left in the U.S.)
crashed to a 26 year low...

http://www.reuters.com/article/marketsNews/idINN0331922120081103?rpc=44

 

[HOLLYWOOD]

Ut Oh... ISM numbers are HORRIBLE!

http://macroblog.typepad.com/macroblog/2008/10/the-ism-index-b.html

If you are weary of troubling news from the financial sector, the week thus far has provided no relief in the form of good news from the economy’s real side. Monday brought troubling signs from the August report on income and consumption, Tuesday more of the same dismal adjustment in house prices, and yesterday an eye-opening ISM manufacturing report that elicited the following sort of headlines (to which I’ve added the emphasis):

Stunning Decline in Manufacturing Sector (Mark Thoma, channeling Real Time Economics)

ISM manufacturing index plunges (Calculated Risk)

ISM Implodes… (Mike Shedlock)

No doubt about it, a 6.4 index-point drop in one month gets people’s attention. How unusual is that large a change in the index? Pretty unusual:

 

[Sarge]

They are going to kiss 7B good bye. Some will get the money but some hedge funds might go under paying up,

http://www.guardian.co.uk/business/feedarticle/7979226

 

[Pauls' Revere]

Mervyn's department store chain is going out of business.

Linen N' Things is belly up.

Shoe Pavillion.

 

[Sarge]

A couple of reads that all might not be well yet,

http://business.timesonline.co.uk/t...ectors/banking_and_finance/article5062772.ece

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10540925

There might still be forced selling by hedge funds in trouble.

 

[Sarge]

A long but worthwhile read of what we are facing yet.,

http://baltimorechronicle.com/2008/110308Lendman.shtml

 

[Sarge]

Ford sales down 30 percent. GM and Toyota figures out later today.

http://www.bloomberg.com/apps/news?pid=20601103&sid=anbjz.LMAut0&refer=news

 

[Sarge]

Yup, it is getting better.

http://www.bobsguide.com/guide/news...e_in_Corporate_Credit_Quality_Since_1990.html

 

[Sarge]

Double ouch,

http://www.independent.co.uk/news/business/news/germans-freeze-16321bn-property-funds-983589.html

http://biz.yahoo.com/rb/081031/business_us_citigroup_cards.html?.v=2

 

[the count]

Uh, reality check here!

MSM and talking heads are saying the market lows are behind us and the economy is going to recover sooner rather than later! Godbless the government bailouts and Paulson! CHEERS!

if the bobbing heads on CNBC were as smart as you think they are, wouldn't they all be in business themselves, raking in the millions?

 

[acptulsa]

if the bobbing heads on CNBC were as smart as you think they are, wouldn't they all be in business themselves, raking in the millions?

What, you want him to take his tongue out of his cheek?

 

[Sarge]

Toyota sales down 25 percent. GM in the next hour.

Take a look at the potential for blow up in Australia,

http://www.money-au.com.au/finance-news/news/nabs-derivative-portfolio-defaulting-3070/

http://business.theage.com.au/busin...f-offbalancesheet-exposure-20081103-5h10.html