Stocks: Market Crash Looming

[devil21]

without an influx of cash from the federal government.

There it is. The "threat". Time for the rest of us to bail out Cali soon. Add them to the TBTF list...

 

[Up The Deise]

I'm surprised they didn't argue the fact that since the Fed is now bailing out foreign own banks therefore it's only right they get a bailout too.

 

[Sarge]

H,

And the City of Las Vegas is talking about laying off 200.

I am seeing so many job cuts in the hundreds coming up. General Dynamics in San Diego is talking about 900 and Chevron 1,500. Throw in the thousands of teachers and other State employees coming up and tax receipts will continue to tank.

Remember teacher notices, in most cases, have to be done this month for the next school year. We have not seen the impact of those getting ready to loose their jobs yet.

I think you said Arnie is giving a speech today. You can bet it isn't that their budget has improved.

Oil well in the Gulf out of control with no end in sight yet. Say economic damage to how many States?

Euro and Pound tanking this AM. It is getting read to get UGLY.

 

[Cowlesy]

It looks like the European fund put together to bid up the Euro is in operation today, as well as the Chinese who are suspected of providing support to the Euro as well.

 

[Sarge]

They get up later than me. If they want to loose money let em go for it.

"Illinois' two most powerful teachers unions Thursday said that more than 18,000 school layoffs statewide could occur unless lawmakers approve an income tax increase."

Do ya just think they might want to plan on being laid off?

"Solo Cup to shutter plants across U.S."

 

[Cowlesy]

It looks like the European fund put together to bid up the Euro is in operation today, as well as the Chinese who are suspected of providing support to the Euro as well.

Mr. Market is fighting back, Euro tanking at the moment.

 

[HOLLYWOOD]

China wins contract to build 3 huge refineries in Nigeria. So much for importing Western refined gas/deisel/etc. Contract total... $28 BILLION. Where were US companies?

2 Hours to go on California's Big Austerity Plan Press Conference. Schwarzenegger is Belly aching about he's only received $3.5 Billion of $7 Billion in bailout cash from Washington DC this year... unbelievable.

[URL]http://gov.ca.gov/[/URL]
Governor Schwarzenegger to Unveil 2010-11 Revised State Budget Proposal
5/14/2010 - Governor Schwarzenegger will unveil his revised state budget proposal for the 2010-11 fiscal year. The Governor will be joined by Department of Finance Director Ana Matosantos.

Watch the live webcast at 4PM EST / 1PM PST.


States now refusing Billions in Aid for state/fed programs because they don't have the funds to Match the FEDERAL funds from Washington DC spending. That's how bad it is across America... look for the states to be bailed out next.

LAS VEGAS... many rooms at major Casinos under $40 a night... some majors under $20! Suites for $50 a night, free buffets, lots of 2 for 1s. Cheap entertainment and Vacation if you have the time and money.

 

[Sarge]

H,

Californians is about to get the big wake up call. LA on the way to going broke. Oakland almost there. The whole state about there.

Arnie and his trip to DC last week must have ended up wasting jet fuel and turned into a big Zip, Nada, No Mas.

"California: "Absolutely terrible" budget cuts to be announced at 4 PM ET."

 

[HOLLYWOOD]

H,

Californians is about to get the big wake up call. LA on the way to going broke. Oakland almost there. The whole state about there.

Arnie and his trip to DC last week must have ended up wasting jet fuel and turned into a big Zip, Nada, No Mas.

"California: "Absolutely terrible" budget cuts to be announced at 4 PM ET."

Hey Sarge remember Johhny Chiang and Bill Lockyer... State treasurer and Comptroller for CA? Remember them flaunting propaganda every month this calendar year about revenue up and above "projected" levels?

Last month California still had over $1 Billion LESS than they projected in revenue. Now remember this is the same game the US Treasury is doing... borrowing tax revenues, increases taxes, remove child credits/misc. credits, and taking monies from the future to increase revenues now. This 20% advance payment of Business taxes from FY2011 to FY2010 is going to make July 1st and beyond just as disastrous.

Well, Arnold says he won't sign any budget without the Billions cuts his team has recommended to Sacramento. Then he goes into what a great job everyone did last year and how some republicans received some damn award from the Kennedy foundation. Man, these Aristocrats truly do have their heads in the clouds.

FEDERAL LEVEL:
Another hidden GEM tax increase hits October 1st (FY2011)... ESTATE TAX... is back, yeap, on homes/farms/lands/etc at $1 million or above goes from 0% to 55%!

Inflation will have that 55% on everybody in a few years... that's the whole idea of government setting these so-call levels. When they passed the original Federal Reserve Act 100 years ago... you only paid 1% on earnings above what equates today to: $320,000.

 

[Sarge]

H,

Sad to say by the time I got tuned in, all I was hearing about was the award. I wanted to laugh.

Yes, I remember how they were saying the revenue was up. Up until they found out it was down.

I am guessing people that can, are going to get out of there.

 

[Sarge]

I can't force myself to look at this, as she might have actually said for them to quit and us pay for their health care costs. Does she realize how many there are? Hell, I can hum and have you pay for our health care according to the wicked witch of the West.

http://www.cnsnews.com/news/article/65950

"House Speaker Nancy Pelosi said this week that thanks to the new health-care reform law musicians and other creative types could quit their jobs and focus on developing their talents because the taxpayers would fund their health care coverage.

“We see it as an entrepreneurial bill,” Pelosi said, “a bill that says to someone, if you want to be creative and be a musician or whatever, you can leave your work, focus on your talent, your skill, your passion, your aspirations because you will have health care.”


I am so ready to quit paying taxes to these idiots. I just need the rest to join in.

SF you mofo's deserve what you get. She is bat shit crazy. Now I have to go open a bottle of Spanish wine.

 

[sb10]

It's not pretty. As the governator said, the low hanging fruit has been picked.

Schwarzenegger takes ax to budget

 

[tmosley]

I can't force myself to look at this, as she might have actually said for them to quit and us pay for their health care costs. Does she realize how many there are? Hell, I can hum and have you pay for our health care according to the wicked witch of the West.

http://www.cnsnews.com/news/article/65950

"House Speaker Nancy Pelosi said this week that thanks to the new health-care reform law musicians and other creative types could quit their jobs and focus on developing their talents because the taxpayers would fund their health care coverage.

“We see it as an entrepreneurial bill,” Pelosi said, “a bill that says to someone, if you want to be creative and be a musician or whatever, you can leave your work, focus on your talent, your skill, your passion, your aspirations because you will have health care.”


I am so ready to quit paying taxes to these idiots. I just need the rest to join in.

SF you mofo's deserve what you get. She is bat shit crazy. Now I have to go open a bottle of Spanish wine.

Wow, encouraging people to quit with welfare. I guess that is the logical next step. Now all we need is a weekly Obama check for all of us "artists", and we can all just sit around and get drunk/high while the world burns. Excellent.

 

[Sarge]

Right you are. How can they quit their jobs and expect to have money to study.

So they are now saying all the low fruit has been picked in CA. I guess we all know what is left. Nuts?

10 percent reduction in salary on all State workers and an increase of 4.8 percent on homeowners and commercial insurance to pay for fire protection. What time do the strikes start?

I think I need to put on some pop corn.

 

[Carson]

All I can say as the people of California tried to save themselves and push the inevitable back when we all passed Proposition 187.

To bad the lawlessness was to ingrained and couldn't be stopped through legal channels OR the voting booth.

Lots of peoples rights were violated when we lost out to the dictators.

 

[Cowlesy]

Euro resuming its freefall tonight, down -96 to 1.2260. It's always tough to gauge how real the move is until the London f/x markets open up early in the morning, as this is Asian and electronic trading only.

Gold up about $8

Dow/S&P/NASDAQ futures down about 1.1% so far.

 

[AmericasLastHope]

Dow futures down over 100 points: http://www.bloomberg.com/markets/stocks/futures.html

 

[HOLLYWOOD]

How about that 200 point swing to the upside late in the day? PPT/Rahm Emanuel working those buttons or a mouse click.

EMPIRE STATE INDEX of manufacturing / general business conditions index fell 13 points, to 19.1
[url]http://www.newyorkfed.org/survey/empire/empiresurvey_overview.html[/URL]

Lowe’s Companies, Inc. (NYSE:LOW), the world’s second largest home improvement retailer disappoints flat earnings from last year's disaster
[url]http://www.thestreet.com/story/10757770/1/lowe8217s-reports-first-quarter-sales-and-earnings-results.html[/URL]

 

[Sarge]

H,

China and Pakistan are having major flooding. China floods a month early. They are talking about 80K homes impacted already. The heavy rains are still expected yet. Food is going to be a big issue at this rate.

Major flooding in Poland and other parts of Europe.

May 20th major solar winds expected from two holes on the sun that could impact electronics. North is likely going to light up at night in the skies.

Earthquakes cranking up and Iceland volcano's are not done by a long shot. The big ones haven't even let go yet.

Oil spill in the Gulf that no press is talking about and it is now hitting the currents to take it up the East coast.

It is going to be interesting times this summer.

 

[Sarge]

LMAO,

"California pension fund, facing large losses, tells struggling state it needs an extra $600M"