Stocks: Market Crash Looming

[Sarge]

"Sisters of Mercy Health System plans to lay off 226 employees, including 89 managers, and has eliminated 288 unfilled jobs as part of a systemwide restructuring of operations." St. Louis

Maine. "About 1,200 workers at Shaw’s stores laid off." 22 stores.

IL. "GALESBURG —City Cab and Ace Cab have announced today that they are closing March 31 because of a tax dispute with the state."

WA. "The Prince William County School Board adopted a $760 million operating budget Wednesday that will cut more than 200 jobs, freeze salaries and raise class sizes in many grades."

NY "looking to cut at least 8,500 teachers if budget is passed."

 

[Sarge]

No S--t Sherlock. 30 year was acting bad today. All bond auctions were acting bad today.

"Treasury Will Soon Have to Pay More to Finance Growing Debt"

It's a coming Bennie, and you are not going to be able to stop it.

 

[Elle]

Sarge, thanks for all the updates that you do on this thread.

 

[Sarge]

You are most welcome.

There are many here that help to keep all up to date on what is really going on out there.

 

[devil21]

http://moneynews.com/StreetTalk/unions-401k-pensions/2009/03/17/id/328862

More talk about confiscating 401k accounts. Another stock market crash would be a great "emergency/crisis" to push this through to the scared sheep.

 

[HOLLYWOOD]

http://moneynews.com/StreetTalk/unions-401k-pensions/2009/03/17/id/328862

More talk about confiscating 401k accounts. Another stock market crash would be a great "emergency/crisis" to push this through to the scared sheep.

I don't know, have the Banking and Wall Street Cabal made enough money and grabbed enough market share before the next inning?

If anyone was watching FOX BUSINESS this morning... They had the Day Traders on and the subject of the LIGHT VOLUME of the Markets. On Varney and Friends, one of the host said, well normally in the markets when the trading is light, they trend downward, but now they are trending upward, why?

Market Traders, "It's all controlled and Propped Up by the government now. They (gov) have nothing to show from the economy or employment so they are propping up the markets as a successful policy position."

I was like wow, LOVE IT, said quoted perfectly on National News.

 

[Sarge]

H,

If you are in when they can't keep it propped up one might not get out fast enough when it tanks. Sooner or later they will no longer be able to prop it up and some people are going to get decimated. Hopefully, the right ones.

It might well be a foreign country that causes the dominoes to collapse during the night. By the time J6P wakes up to a devastating loss. The problem is neither the Fed or anyone else can tell the spark that is going to blow this whole mess up. My thoughts.

H,

Off early to go fishing for the day, with my Bro, tomorrow. Help if you can with anything major cooking.

 

[Sarge]

Get a load of this one. If anyone thinks there is no smoke out there think again.

http://www.zerohedge.com/article/ec...oint-and-only-thing-may-save-euro-collapse-us

Tipping point. US must collapse first? Oh Boy. Does he have a clue about Bennie and Timmay?

Ben will print faster than a speeding bullet, higher than the tallest building, faster than the fastest bullet train.

 

[devil21]

Get a load of this one. If anyone thinks there is no smoke out there think again.

http://www.zerohedge.com/article/ec...oint-and-only-thing-may-save-euro-collapse-us

Tipping point. US must collapse first? Oh Boy. Does he have a clue about Bennie and Timmay?

Ben will print faster than a speeding bullet, higher than the tallest building, faster than the fastest bullet train.

I keep my PMs "off site" at a trusted friend's place. She always watches me unload with curiousity but always make a comment like "I don't get that...it's just metal?"

She keeps her savings in a 401k account. I just shake my head and think about articles like that ZH one above.

 

[Sarge]

I hear you on the gold and silver.

It is getting down to who is going under first. Greece better think again if they think they are going to out last Ben. But, when Ben blows it, as he will, it will be more than 1K times worse.

Don't rule out the UK, Spain, Greece or Portugal going under first. Followed by NY, NJ, FL, CA, IL and a few others that are on a single spider web tread that is so thin you can't see it.

We are about 15 days away from the March treasury tax receipts. This one should be an eye opener. They did a fluff and puff for Feb. If, like I think, it is going to be a big bust, it might just get ugly fast.

All I can say is be safe when it blows.

Most City, County, State budgets are not yet finalized. If anyone thinks there are not thousands more cuts yet to come get ready.

NY does an emergency funding to cover until after the Easter season as the budget in not done. They have two budget rec's that are 9 B over what they have. HELLO###

Let me see. I am 9 B short in my house hold and so I will recommend we spend 6 B more when sales tax and state taxes are tanking.

Ship me some of what they are drinking or smoking.

Ben there and done that, and went into no spend mode until things were better.

My thoughts.

 

[HOLLYWOOD]

This economy is one big mess... man has government screwed everything up!

3,000 apply for 1,000 minimum wage service jobs!
Unemployed Professionals now working at Sky Resorts for $7.25 / hr.
http://www.latimes.com/business/la-fi-ski25-2010mar25,0,176820.story

UBS AG's brokerage unit in the U.S. is laying off 200 employees, including about 25 managing directors, according to people familiar with the situation.
http://online.wsj.com/article/SB10001424052748704094104575144181014526258.html

Shaw’s Supermarkets Inc. said yesterday that it plans to lay off 4% or 1,000 employees of its store associates in early April in an effort to stay competitive
http://www.boston.com/business/articles/2010/03/25/shaws_will_lay_off_4_of_workers/

PARIS, TX- Sara Lee Bakery Group - is announcing 2/3's of its employees at the Paris, Texas, bakery plant will be laid off later this year, approximately 260 employees are going to be fired/canned.

Illinois School District 101 votes to lay off 72 employees
http://www.pioneerlocal.com/westernsprings/news/2116055,western-springs-d101staff-032510-s1.article

Chevron to lay off 2000 workers, Business. JOB CUTS: Chevron Corp. will cut 2000 jobs this year in its struggling refinery, marketing and ...
search.nwsource.com/search?similarto=MB%3A2011443127

Indio, CA City eliminates 57 positions representing about 20 percent of the city’s workforce.
http://www.mydesert.com/article/20100325/NEWS01/100325035/Indio+lays+off+23+employees+

INSANITY = Los Angeles Mayor Antonio Villaraigosa's Increasing Water and Power Utility Rates 22-38%
http://www.latimes.com/news/local/la-me-mayor-business25-2010mar25,0,4460049.story

http://www.latimes.com/news/local/l...mostviewed+(L.A.+Times+-+Most+Viewed+Stories)

he pushes the City Council to approve rate increases of up to 22% for businesses, Villaraigosa's clean-air ambitions have run head-first into his job goals -- and his promise to treat L.A.-based companies with extra care.plan to boost rates at the Department of Water and Power has drawn an outcry from business leaders who fear that his promise to create "green jobs" will be accomplished at the expense of their own workers.
Oh, One More Thing, if the city of Los Angeles doesn't get the rate increase, it may have to file Bankrupcty!

 

[LT for the Truth]

This thread will be famous - if it already isn't I just been copying & pastin on other boards. thanx guys

 

[devil21]

Can someone explain to me why the term "laid off" is being used to describe every person that is FIRED from their jobs now?

My understanding is that "laid off" means a temporary (and usually set length of time in advance) loss of work but not the loss of the job itself. Like a seasonal shutdown at a factory or a temporary cash flow problem that will be resolved in a few weeks.

Aren't all of these people being FIRED? There's no temporary nature to these job cuts. These people are permanently losing their jobs, therefore they are being fired, shit-canned, cut loose, terminated, etc.

 

[MsDoodahs]

http://online.wsj.com/article/SB100...roject=PERSONALINCOME1003&articleTabs=article

personal income drop...

 

[Original_Intent]

Can someone explain to me why the term "laid off" is being used to describe every person that is FIRED from their jobs now?

My understanding is that "laid off" means a temporary (and usually set length of time in advance) loss of work but not the loss of the job itself. Like a seasonal shutdown at a factory or a temporary cash flow problem that will be resolved in a few weeks.

Aren't all of these people being FIRED? There's no temporary nature to these job cuts. These people are permanently losing their jobs, therefore they are being fired, shit-canned, cut loose, terminated, etc.

I think that lately the difference between fired and laid off, is that fired now usually means terminated FOR CAUSE, and laid off is generally terminated without cause or a reduction in force.

Terminated for cause usually does not have access to unemployment benefits. "Laid off" people do.

 

[devil21]

I think that lately the difference between fired and laid off, is that fired now usually means terminated FOR CAUSE, and laid off is generally terminated without cause or a reduction in force.

Terminated for cause usually does not have access to unemployment benefits. "Laid off" people do.

So it's just feel good language...easier to say "I got laid off" than "I got fired" or "I got terminated", etc. No stigma attached.

If you lose your job permanently then you have been fired. Whether you're fired for being a thief or fired because the company can't afford you anymore matters none in the big picture. You throw in "for cause" and that is what makes the difference. Terminated is terminated.

 

[Sarge]

"The Hartford is planning to lay off 101 workers starting in May at a Bloomfield office."

"UBS’s U.S. Brokerage Unit Said to Fire Almost 200 Workers here in the US."

"N.J. School Staff Cuts Planned in 90% of Districts."

"All employees of the Alvin C. York Institute in Jamestown are being laid off as part of the state budget process. 94 in Tenn."

"New York City’s public hospitals will be forced to cut 3,900 jobs over two years."

" CT.MILFORD — A total of 169 nonrenewal notices were sent to city teachers Thursday."

"A coalition of Illinois education groups says more than 20,000 teachers and staff could be laid off in the next school year." They have to let them know quick.

"Busch brewery in California will reduce workforce." 400

"Today is the last day of work for more than 100 employees of Cemex Inc. in Wampum."

MD. "BP Solar announced Friday it is laying off 320 manufacturing workers at its Frederick facility."

"Albuquerque Public Schools Superintendent Winston Brooks says the district could eliminate 700 jobs as part of his plan to close a larger than expected budget gap."

"Continental Airlines Inc. said Friday it will lay off 150 ground workers including bag handlers at seven U.S. airports and hire contractors to do the work." Several airports.

"Sallie Mae facing thousands of layoffs. 2,500 coming right up."

 

[Sarge]

"NORTH HAVEN — Longtime gun manufacturer Marlin Firearms Co. will shut its doors in June 2011, leaving 265 people without jobs." CT. Already working on 2011 job cuts. Not good.

"Lake Tahoe's Cal Neva to close casino 29 employees to be laid off."

Salvation Army closing three stores including one in Phoenix. Can't afford to operate them in this economy. More empty retail space.

 

[Sarge]

LA you are going to love this one.

"The Los Angeles Department of Water and Power is planning to boost the electricity bills of its customers by 37% over the next four years as part of its effort to cover steadily rising costs."

"Unemployment Line Stays Long: Up to 26.4 Million Seek Full-Time Jobs,"

 

[audienceofone]

Im not into gambling but I would bet the farm California is the 1st state to go....
Call it the canary in the coal mine.