Stocks: Market Crash Looming

[Sarge]

H,

Thank you for your time to put that shot of the last three years together. Tax Receipts tanking. No way around it. They can lie through their teeth and say it is getting better. No it isn't, it is getting ready to blow up.

June figures are going to give April Tax receipts and after, things likely goes down hill faster. If April figures are down it will be panic time in DC. I am not so sure it is not panic time already.

 

[audienceofone]

Can't they just print money to make up the losses? (sarcasm)

 

[keh10]

Deductions are up and receipts are down. Can we expect more audits this year?

 

[cbc58]

keep this thread going long enough and it will eventually be right.... nothing makes sense but that doesn't seem to matter.

 

[ChooseLiberty]

Cramer says INTC will double from here.

http://www.thestreet.com/story/1072...ney-recap-look-for-intel-to-double-final.html

 

[UWDude]

INTC is a company that makes a product that has no substitute, besides AMD. It may very well do good regardless of the American economy.

 

[devil21]

Looks to me like the last hard run up to draw in the retail investors again before pulling the rug out again.

 

[Sarge]

Ben I tired to tell you that you painted us into a corner.

"Federal Reserve Chairman Ben Bernanke told Congress Wednesday that America is facing something approaching a debt Armageddon."

On main street.

"Layoffs Begin At Jackson; More Than 500 Lose Jobs." Miami hospital.

OH and 10 other States. "AEP announces plans to cut up to 2,200 jobs." American Electric Power.

Houston. "Village Healthcare Center lays off 120 employees."

"Unisys to cut 229 jobs in Austin."

" John Carlo Inc. cuts 100 jobs in Orlando."

"Pink slips will be going out Thursday to almost 200 Stockton city workers, and half of those layoffs will be in the police department." CA.

"Thomson Reuters will close its office in Independence, laying off 132 full-time employees by the end of the year." OH.

That is just a few this am.

 

[Sarge]

We have yet to get a weekly jobless claims number under 400K. How can this mess have been over yet?

They are still having to extend unemployment benefits as people can't find jobs.

We are still waiting on the big States to finish their budgets so they will know how many jobs they need to cut yet. NJ, NY, ILL and CA are not done yet no matter what they say.

And yes expect audits. The IRS needs to start with their own people that have not paid millions.

 

[Sarge]

CA. "Mattel closing Industry hub. 116 jobs gone."

Apple Valley School Dist, and St. Louis schools vote tonight. It is going to be ugly.

Apple Valley talking 116. St Louis will likely be big.

 

[Sarge]

OH BOY. Going the wrong way.

Jobless Claims 484K vs. consensus of 440K and vs. prior week of 460K.

And we haven't even begun to see all the teacher and related job cuts yet to hit.

I was trying to warn about this. Wait until the big States have to cut when their budgets are done.

 

[HOLLYWOOD]

McLEAN, VA. (TheStreet) -- Capital One Financial's (COF) Credit Card Charge-Offs ROSE in March after experiencing a decline in the prior month although delinquencies continued to fall in the latest 30-day period.

http://www.thestreet.com/story/1072...-mixed-march-credit-data.html?cm_ven=GOOGLEFI

Bergen County, NJ to lay off 75 today
http://www.northjersey.com/news/041310_Bergen_County_to_lay_off_75_Wednesday.html

UPS to lay off 300 pilots; Anchorage jobs affected
http://www.usnewsdot.com/ups-jobs-ups-to-lay-off-300-pilots-anchorage-jobs-affected.html

Disney to shut Lyric Street Records, lay off 20-25
[url]http://www.kansascity.com/2010/04/14/1877627/disney-to-shut-lyric-street-records.html#ixzz0lBGyOrQL[/URL]

BUDGET CRISIS: Clark County, NV forced to lay off 530 workers by July
Officials, unions to talk options amid dire news
http://www.lvrj.com/news/county-could-be-forced-to-lay-off-530-workers-90376009.html

AZ Deer Valley district to lay off 69 teachers
http://azstarnet.com/news/state-and-regional/article_190a3988-054e-5954-bd0c-73ac87bd7118.html

Harley-Davidson to lay off 94 workers in Wisconsin
http://www.ydr.com/ci_14844267?source=rss

H&W to close 9 offices, lay off 126 workers
http://www.magicvalley.com/news/local/article_983c423b-6353-5bc7-bda4-b64d7ed7018f.html?mode=story

 

[Sarge]

H,

Thank you. Did you see this?

"Saint Vincent Catholic Medical Centers, operator of a hospital in New York’s Greenwich Village for 160 years, filed for bankruptcy court protection, listing more than $1 billion in debt."

They owe the PBGC 180M towards retirement benefits that will never likely get paid to PBGC. That is going to hurt PBGC big time as they were already running behind. Can make little on investments and now a big hit.

 

[audienceofone]

Even with leftover stimulus from last year low tax revenue is causing Alabama Public Education to lay off 2,827 next year, a byproduct of a sluggish economy.

Student population will be up 1,781

 

[Sarge]

Just the start on school job cuts.

Norway might have further impact. Volcanic Ash is causing tons of flights to be canceled in Europe and the US. If that keeps up it could have a big financial impact on airlines and cruise ships.

They are not going to fly through the ash. Mother nature, might yet bring down the house of cards.

 

[UWDude]

Just the start on school job cuts.

Norway might have further impact. Volcanic Ash is causing tons of flights to be canceled in Europe and the US. If that keeps up it could have a big financial impact on airlines and cruise ships.

They are not going to fly through the ash. Mother nature, might yet bring down the house of cards.

Might? It is inevitable, and the bankers know it.
Jus tlike Haiti, Katrina, etc, the idea is, eventually, a natural disaster will hit, and destroy values, making land easier to buy up.

It's a big consolidation move. It has been since 1913.

 

[Sarge]

If anyone is taking a cruise just make sure you book it with a credit card. Things are going on out there, and make sure you are covered. Cant' say more than that. I am not bad mouthing, as we love to cruise. Just saying folks things are not great as they make it out with them trying to bump up the cost of a cruise.

Got some information like, on one 5 star high priced cruise, one bar tender to serve 300 people. Say what? Man love to the bar tender, and let the women head to the life boats. Going down with the bartender. Wait, should I have said down with the ship?

 

[ChooseLiberty]

BREAKING: Unusual price action continued today as the Dow closed above 11k. The Dow is now back to levels before the '08 crash because the US financial house is now back in perfect working order and the corruption that created the crash have been removed from the system. Oh, wait.

Traders at the scene commented - "I tol you suckas. Da fif wave. Da Fizzef."

 

[Sarge]

couple you might want to read.

http://www.npr.org/templates/story/story.php?storyId=126029838

http://www.dailymail.co.uk/news/art...me-month-forcing-new-evacuation-tourists.html

Notice the second article, which shows more, said it could last for day to weeks.

My nephew flew out their way tonight. Good luck on getting in there close to where you need to be tomorrow. He is under contract so had to go otherwise no money.

 

[Sarge]

They are saying the Iceland volcano's could impact travel for up to six months. Big economic hit to all if that happens.

''Sacramento County to slash more than 600 jobs.''

"St. Louis to close 6 schools, eliminate 490 jobs,''