Stocks: Market Crash Looming

audienceofone said:
I have a couple questions about all this.
Ill use the school system here in AL as an example. Without 360million in "stimulus" funds to save it they will be looking at laying off 3000+ teachers next year which would=total collapse of the system. Will it collapse or will the herion addict get another fix so he is not having withdrawals in the gutter just yet?

And can they do that again without causing serious inflation?
Thanks for all the good info Im still trying to learn

oh and the predator analogy was awsome!
Click to expand...

Generally, when state govt's say they are going to lay off teachers, it's bluster. They might be forced into a pay cut along with some job losses, but they aren't going to lay them all off. Most states would default well before they did that.

If it goes to hell, the state will stop funding education, and it will revert back to local governments to provide public schooling, and there will be a lot more private schools that open.
 
Hard to say. It likely depends if any of the 25B to help States balance their budgets goes to Alabama.

The problem is all the States are hurting and working on their budgets right now.

The Federal Budget deficit sets record in February. 220.9B They can't afford more spending but, it is not stopping the idiots.

I have been saying for the last month I think we are going to see a wave of teachers out of jobs. Illinois talking about 17K alone with their budget problems. Latest is the Gov. is calling for a 33 percent tax for education. ie 1 percent increase in income tax as of 30 minutes ago.

I think it will be a few more weeks before we know on all of the States. As for inflation, it is coming, I am just not sure how soon. Just my thoughts.
 
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I used that situation as an example of the whole system. Do you think it will be bailed out again? How many times can they get away with it without inflation? It makes my head spin hahaha.
 
The whole system is in trouble anyway you look at it. They haven't even dealt with SS, Medicare or forced health care on us as of yet,

Throw on continued extensions of unemployment insurance on States that likely will not be able to pay the money back in my life time and the scale keeps on tipping more each day.
 
State unemployment insurance tax bills are getting ready to hit. Overall 27.5 percent increase. Low 2.7 to 600 percent in Hawaii. When small business get the increases I suspect some that are just hanging on will fold just at the wrong time.

They keep extending and that keeps increasing the bill they are going to get. Half of the States are already broke in their accounts and borrowing from the Fed's.

On another note, 100 at a whack still being cut on school districts. 500 cuts at hospitals in Indiana.
 
They just spent another $150 BILLION to in the US Senate

http://www.reuters.com/article/idUS...article/idUSN1016115020100310?type=marketsNe5


No difference between these Narrississistic Sociopaths in the Senate US

[h1]UPDATE 1-Senate passes $149 bln for jobless aid, tax breaks[/h1]
Wed Mar 10, 2010 3:10pm EST

Bonds | Global Markets
WASHINGTON, March 10 (Reuters) - The U.S. Senate on Wednesday approved a $149 billion package of jobless aid and tax breaks as Democrats continued efforts to bring down the 9.7 percent unemployment rate before the November congressional elections.
The measure, which passed by a vote of 62 to 36, now heads to the House of Representatives, where many Democrats have pushed for more aggressive job-creation measures.
Democrats say job creation is their top priority this year as they head into an election season that could possibly cost them control of Congress.
Both chambers have now passed two job-creation bills, but they have yet to resolve their differences and finish legislation that President Barack Obama can sign into law.

The bill passed by the Senate largely continues existing government policies. Jobless workers would see their unemployment aid and healthcare subsidies extended to the end of the year, while businesses would once again benefit from $25 billion worth of tax breaks that expired at the end of 2009.


Cash-strapped states would get $25 billion to help cover their portion of the Medicaid healthcare program for the poor.

The bill's $149 billion in new spending is offset by $37 billion in revenue raised by closing tax loopholes. <=== HAH HAH!!!
 (Reporting by Andy Sullivan; editing by Eric Beech)
 
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audienceofone said:
I used that situation as an example of the whole system. Do you think it will be bailed out again? How many times can they get away with it without inflation? It makes my head spin hahaha.
Click to expand...

They can't do it even once without inflation. It just takes a while for it to show up in prices. Since it takes as long as two years for inflation to work its way through the pricing structure, they can have multiple "shells in the air" to use a tank comparison. That is, some tanks are able to fire so fast that you can have six shells in the air at any given time. For the target to notice all these shells going off (QE) and not take cover (buy gold, silver, and other commodities) is foolish. Once those shells start hitting, it's going to look like hell out there.
 
Thank you for picking up on that one.

In thinking about Larry S., his is one of the 2006 tranches that is going to be ugly beyond belief. It would help if we knew which one is going under in the future. I am not sure how to tell if they don't tell us but, I do know the 2006 tranche is going to have barracudas snapping at their behinds. Say trillions at risk. 2005's are likely almost done.

And by the way, Calper's takes another major hit after the NY apartment complex. Way to go Calper's for your future retirees. Conservative investing 101.
 
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Wait just a second.,

http://www.cnbc.com/id/35800892

If mortgage insurer's are going to take this position, they better file a Declaratory Judgment Action for recession of all polices and tender all premiums to the court. You can't keep the premiums paid and then say you will not pay. Been there, done that, and know how it works. They are asking for big lawsuits, including breech of contract, treble damages, and punitive damages, if they don't do it right.
 
Right you are on Larry.

Jobless claims 462K vs. consensus estimate of 460K.

Kansas City MO closing half of schools 29.

CA 400 teachers got lay off notices in various school districts. SF lay offs taking place.

Olive Hurst postal office in CA being closed. 171 employees have to transfer if they can. Just pile up more people at another office I guess.
 
Men’s Wearhouse to close 100 tuxedo rental stores. Wow. Those stores are big. A lot of empty retail coming up along with job losses.

LV. 146 pink slips.
 
"Another 202 layoffs at IBM push latest count above 2,900."

"Layoff notices go out to 600 employees of The Honolulu Advertiser."

Teacher's still 100 at a whack.
 
Thank for for that find.

I think we will see a bunch more jobs lost by the end of May. Most districts are dealing with budgets right now. They have to warn the teachers before school is out for the summer.

Belvidere School District 100 Talks Job Cuts in Wisconsin. Looking at their budget right now. I am seeing 4 schools closing in Indiana and libraries being closed in CA.
 
BREAKING: Unusual price action continued today as the Dow closed around 10.6k on average volume pushing toward the previous high at 10.767k. Other indexes gapped up and closed down in potential reversal patterns.

Traders at the scene commented - "The market will never, ever go down again. We're all 1000% long. The Fed is in control. F mainstreet."
 
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