Stocks: Market Crash Looming

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:
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.
 
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.
 
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/article/ALeqM5gnPfManekLpxyggWfpFgY3tkXKrw

U.S. Factory Orders Fall More Than Forecast in Sign Manufacturing to Cool
http://www.bloomberg.com/news/2010-...n-forecast-in-sign-manufacturing-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 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.
 
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.
 
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.
 
Jobless Claims. Consensus was for 455K. Get this, actual 479K. Not getting better gang.
 
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.
 
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..
 
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.
 
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.
 
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? :confused: Just curious.
 
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.

Got any stats about summer vacations, travely hspending? :confused: Just curious.
 
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/viewDTSFiles?dir=w&fname=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:
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/2010/08/10/ceos-less-confident-in-recovery/

San Francisco Fed Paper Warns Odds of Recession Rising
http://blogs.wsj.com/economics/2010/08/09/san-francisco-fed-paper-warns-odds-of-recession-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:
Back
Top