Stocks: Market Crash Looming
- Thread starter ChooseLiberty
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Sorry to hear you are having such a rough time of it.
I would guess most don't have a problem with 40 weeks when someone is making an effort to get several jobs like you have.
Being in a smaller town does make it more difficult to find a job. I agree people should keep filling out the forms otherwise they say it is getting better when it is not.
Right you are on the problems coming up now 2m have lost benefits.
What town are you in. Some might have some work for you, or know of a job, if they know where you are.
Good luck to you.
I would guess most don't have a problem with 40 weeks when someone is making an effort to get several jobs like you have.
Being in a smaller town does make it more difficult to find a job. I agree people should keep filling out the forms otherwise they say it is getting better when it is not.
Right you are on the problems coming up now 2m have lost benefits.
What town are you in. Some might have some work for you, or know of a job, if they know where you are.
Good luck to you.
Thanks. As long as I keep plugging away with school to finish my degree, and sending a half dozen or so resumes out each week. I should be OK. Its not the end of the world. My wife is working. She has an interview for a 2nd part time job.. I just feel guilty for my wife having to work a 2nd job. I feel horrible about that, but I guess whatever works to keep our family going.
We both still have money in 401K, and Company Stock. It isn't much but its something to keep us going if we need to. My 401K took so much of a pounding from 4 or 5 years ago, and with the taxes and penalities from a hardship withdrawl its not worth pulling money out of it. On the other hand, maybe its better to pull it out now while there is some value left..
I'm in Central and northern Wisconsin. Not a huge population base, but there are some larger cities within a 45 minute to an hour drive of me.
We both still have money in 401K, and Company Stock. It isn't much but its something to keep us going if we need to. My 401K took so much of a pounding from 4 or 5 years ago, and with the taxes and penalities from a hardship withdrawl its not worth pulling money out of it. On the other hand, maybe its better to pull it out now while there is some value left..
I'm in Central and northern Wisconsin. Not a huge population base, but there are some larger cities within a 45 minute to an hour drive of me.
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angelatc
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I feel for you Pants, but like my dry cleaner told me - if she didn't have to pay out $8,000 a year in umemployment taxes, she could afford to hire a part-time person. And if she could hire that person, she could grow her business and eventually turn that into a full time position.
AmericasLastHope
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The Omen Makes a Repeat Appearance...
We got a second official confirmed Hindenburg Omen observation Wednesday, December 15th, 2010 after getting a first observation Tuesday, December 14th, 2010, meaning we are now on the clock watching for a stock market crash, and at the very least a significant decline. There is a much higher than normal probability of a stock market crash starting sometime over the next four months. All criteria were met Tuesday and Wednesday, December 14th and 15th, 2010. December 14th's observation saw 179 NYSE New 52 Week Highs, and 113 NYSE New 52 Week Lows according to the Wall Street Journal, the lower of the two coming in at 3.58 percent, above the 2.2 percent threshold required for a Hindenburg Omen observation. Total NYSE issues traded were 3,158. New Highs were not more than twice New Lows, the McClellan Oscillator was negative at negative -16.23, and the 10 Week Moving Average is rising. The second observation on December 15th has occurred within the required 36 day period necessary for a cluster (two or more observations) to occur. December 15th's observation saw 156 NYSE New 52 Week Highs, and 89 NYSE New 52 Week Lows according to the Wall Street Journal, the lower of the two coming in at 2.83 percent, above the 2.2 percent threshold required for a Hindenburg Omen observation. Total NYSE issues traded were 3,143. New Highs were not more than twice New Lows, the McClellan Oscillator was negative at negative -68.80, and the 10 Week Moving Average is rising.
Now that we have a second observation, we have an official confirmed Hindenburg Omen. This is the first Hindenburg Omen since August 2010, and only the second since 2008, which of course led to the massive stock market crash in the autumn 2008, and the fourth since the Bear Market started in 2007 (we got one in 2007, one in 2008 and two here in 2010). We got crashes after both the October 2007 and June 2008 Hindenburg Omens.
http://www.safehaven.com/article/19...nfirmed-hindenburg-omen-on-december-15th-2010
We got a second official confirmed Hindenburg Omen observation Wednesday, December 15th, 2010 after getting a first observation Tuesday, December 14th, 2010, meaning we are now on the clock watching for a stock market crash, and at the very least a significant decline. There is a much higher than normal probability of a stock market crash starting sometime over the next four months. All criteria were met Tuesday and Wednesday, December 14th and 15th, 2010. December 14th's observation saw 179 NYSE New 52 Week Highs, and 113 NYSE New 52 Week Lows according to the Wall Street Journal, the lower of the two coming in at 3.58 percent, above the 2.2 percent threshold required for a Hindenburg Omen observation. Total NYSE issues traded were 3,158. New Highs were not more than twice New Lows, the McClellan Oscillator was negative at negative -16.23, and the 10 Week Moving Average is rising. The second observation on December 15th has occurred within the required 36 day period necessary for a cluster (two or more observations) to occur. December 15th's observation saw 156 NYSE New 52 Week Highs, and 89 NYSE New 52 Week Lows according to the Wall Street Journal, the lower of the two coming in at 2.83 percent, above the 2.2 percent threshold required for a Hindenburg Omen observation. Total NYSE issues traded were 3,143. New Highs were not more than twice New Lows, the McClellan Oscillator was negative at negative -68.80, and the 10 Week Moving Average is rising.
Now that we have a second observation, we have an official confirmed Hindenburg Omen. This is the first Hindenburg Omen since August 2010, and only the second since 2008, which of course led to the massive stock market crash in the autumn 2008, and the fourth since the Bear Market started in 2007 (we got one in 2007, one in 2008 and two here in 2010). We got crashes after both the October 2007 and June 2008 Hindenburg Omens.
http://www.safehaven.com/article/19...nfirmed-hindenburg-omen-on-december-15th-2010
Agree.. We sure have made everything a mess.
I agree with Romney for once.. People should put away for their own unemployment.. and have it pre-taxed like a HSA or Flex account. This is the first time in my life I have been unemployed.. I worked since I was 16.. I was laid off in 1999, applied for unemployment, but found employment 6 hours after I became unemployed. I never used it.. Had I saved up $1,000 a year for my unemployment.. I probably would have enough to go 3, 4, or 5 years.
I would agree continuing extended benefits.. We can worry about revamping the system when we can get unemployment below 7%. There are just too many unemployed to change the rules in the middle of the game.
As it stands right now, there are about 1,000,000 who probably will receive at least $1,000 or more in retroactive benefits whenever Congress approves extended unemployment benefits. That number is growing by the week as people gradually run out of benefits.
Also keep in mind, the first $2,500 in Unemployment Benefits per calendar year is not taxable..If those lump sum checks are paid out after January 1st, they won't be taxed. Which makes you want to bang your head against the wall for fiscal responsibility.
You can argue about how bad this system is, the "lazy" people milking it, how people shouldn't make careers out of unemployment.. This is the only system we have right now.. It is what it is.. Its either pay out an extra 13 months in benefits, or watch crime rate, poverty, foreclosures, bank closures, and bank bailouts dramatically increase.
I agree with Romney for once.. People should put away for their own unemployment.. and have it pre-taxed like a HSA or Flex account. This is the first time in my life I have been unemployed.. I worked since I was 16.. I was laid off in 1999, applied for unemployment, but found employment 6 hours after I became unemployed. I never used it.. Had I saved up $1,000 a year for my unemployment.. I probably would have enough to go 3, 4, or 5 years.
I would agree continuing extended benefits.. We can worry about revamping the system when we can get unemployment below 7%. There are just too many unemployed to change the rules in the middle of the game.
As it stands right now, there are about 1,000,000 who probably will receive at least $1,000 or more in retroactive benefits whenever Congress approves extended unemployment benefits. That number is growing by the week as people gradually run out of benefits.
Also keep in mind, the first $2,500 in Unemployment Benefits per calendar year is not taxable..If those lump sum checks are paid out after January 1st, they won't be taxed. Which makes you want to bang your head against the wall for fiscal responsibility.
You can argue about how bad this system is, the "lazy" people milking it, how people shouldn't make careers out of unemployment.. This is the only system we have right now.. It is what it is.. Its either pay out an extra 13 months in benefits, or watch crime rate, poverty, foreclosures, bank closures, and bank bailouts dramatically increase.
According to Alex Jones..25 signs that the financial collapse is rapidly getting closer….
#1 The official U.S. unemployment rate has not been beneath 9 percent since April 2009.
#2 According to the U.S. Census Bureau, there are currently 6.3 million vacant homes in the United States that are either for sale or for rent.
#3 It is being projected that the U.S. trade deficit with China could hit 270 billion dollars for the entire year of 2010.
#4 Back in 2000, 7.2 percent of blue collar workers were either unemployed or underemployed. Today that figure is up to 19.5 percent.
#5 The Chinese government has accumulated approximately $2.65 trillion in total foreign exchange reserves. They have drained this wealth from the economies of other nations (such as the United States) and instead of reinvesting all of it they are just sitting on much of it. This is creating tremendous imbalances in the global economy.
#6 Since the year 2000, we have lost 10% of our middle class jobs. In the year 2000 there were approximately 72 million middle class jobs in the United States but today there are only about 65 million middle class jobs.
#7 The United States now employs about the same number of people in manufacturing as it did back in 1940. Considering the fact that we had 132 million people living in this country in 1940 and that we have well over 300 million people living in this country today, that is a very sobering statistic.
#8 According to CoreLogic, U.S. housing prices have now declined for three months in a row.
#9 The average rate on a 30 year fixed rate mortgage soared 11 basis points just this past week. As mortgage rates continue to push higher it is going to make it even more difficult for American families to afford homes.
#10 22.5 percent of all residential mortgages in the United States were in negative equity as of the end of the third quarter of 2010.
#11 The U.S. monetary base has more than doubled since the beginning of the most recent recession.
#12 U.S. Treasury yields have been rising steadily during the 4th quarter of 2010 and recently hit a six-month high.
#13 Incoming governor Jerry Brown is scrambling to find $29 billion more to cut from the California state budget. The following quote from Brown about the desperate condition of California state finances is not going to do much to inspire confidence in California’s financial situation around the globe….
“We’ve been living in fantasy land. It is much worse than I thought. I’m shocked.”
#14 24.3 percent of the residents of El Centro, California are currently unemployed.
#15 The average home in Merced, California has declined in value by 63 percent over the past four years.
#16 Detroit Mayor Dave Bing has come up with a new way to save money. He wants to cut 20 percent of Detroit off from essential social services such as road repairs, police patrols, functioning street lights and garbage collection.
#17 The second most dangerous city in the United States – Camden, New Jersey – is about to lay off about half its police in a desperate attempt to save money.
#18 In 2010, 55 percent of Americans between the ages of 60 and 64 were in the labor market. Ten years ago, that number was just 47 percent. More older Americans than ever find that they have to keep working just to survive.
#19 Back in 1998, the United States had 25 percent of the world’s high-tech export market and China had just 10 percent. Ten years later, the United States had less than 15 percent and China’s share had soared to 20 percent.
#20 The U.S. government budget deficit increased to a whopping $150.4 billion last month, which represented the biggest November budget deficit on record.
#21 The U.S. government is somehow going to have to roll over existing debt and finance new debt that is equivalent to 27.8 percent of GDP in 2011.
#22 The United States had been the leading consumer of energy on the globe for about 100 years, but this past summer China took over the number one spot.
#23 According to an absolutely stunning new poll, 40 percent of all U.S. doctors plan to bail out of the profession over the next three years.
#24 As 2007 began, there were just over 1 million Americans that had been unemployed for half a year or longer. Today, there are over 6 million Americans that have been unemployed for half a year or longer.
#25 All over the United States, local governments have begun instituting “police response fees”. For example, New York Mayor Michael Bloomberg has come up with a plan under which a fee of $365 would be charged if police are called to respond to an automobile accident where no injuries are involved. If there are injuries as a result of the crash that is going to cost extra.
#1 The official U.S. unemployment rate has not been beneath 9 percent since April 2009.
#2 According to the U.S. Census Bureau, there are currently 6.3 million vacant homes in the United States that are either for sale or for rent.
#3 It is being projected that the U.S. trade deficit with China could hit 270 billion dollars for the entire year of 2010.
#4 Back in 2000, 7.2 percent of blue collar workers were either unemployed or underemployed. Today that figure is up to 19.5 percent.
#5 The Chinese government has accumulated approximately $2.65 trillion in total foreign exchange reserves. They have drained this wealth from the economies of other nations (such as the United States) and instead of reinvesting all of it they are just sitting on much of it. This is creating tremendous imbalances in the global economy.
#6 Since the year 2000, we have lost 10% of our middle class jobs. In the year 2000 there were approximately 72 million middle class jobs in the United States but today there are only about 65 million middle class jobs.
#7 The United States now employs about the same number of people in manufacturing as it did back in 1940. Considering the fact that we had 132 million people living in this country in 1940 and that we have well over 300 million people living in this country today, that is a very sobering statistic.
#8 According to CoreLogic, U.S. housing prices have now declined for three months in a row.
#9 The average rate on a 30 year fixed rate mortgage soared 11 basis points just this past week. As mortgage rates continue to push higher it is going to make it even more difficult for American families to afford homes.
#10 22.5 percent of all residential mortgages in the United States were in negative equity as of the end of the third quarter of 2010.
#11 The U.S. monetary base has more than doubled since the beginning of the most recent recession.
#12 U.S. Treasury yields have been rising steadily during the 4th quarter of 2010 and recently hit a six-month high.
#13 Incoming governor Jerry Brown is scrambling to find $29 billion more to cut from the California state budget. The following quote from Brown about the desperate condition of California state finances is not going to do much to inspire confidence in California’s financial situation around the globe….
“We’ve been living in fantasy land. It is much worse than I thought. I’m shocked.”
#14 24.3 percent of the residents of El Centro, California are currently unemployed.
#15 The average home in Merced, California has declined in value by 63 percent over the past four years.
#16 Detroit Mayor Dave Bing has come up with a new way to save money. He wants to cut 20 percent of Detroit off from essential social services such as road repairs, police patrols, functioning street lights and garbage collection.
#17 The second most dangerous city in the United States – Camden, New Jersey – is about to lay off about half its police in a desperate attempt to save money.
#18 In 2010, 55 percent of Americans between the ages of 60 and 64 were in the labor market. Ten years ago, that number was just 47 percent. More older Americans than ever find that they have to keep working just to survive.
#19 Back in 1998, the United States had 25 percent of the world’s high-tech export market and China had just 10 percent. Ten years later, the United States had less than 15 percent and China’s share had soared to 20 percent.
#20 The U.S. government budget deficit increased to a whopping $150.4 billion last month, which represented the biggest November budget deficit on record.
#21 The U.S. government is somehow going to have to roll over existing debt and finance new debt that is equivalent to 27.8 percent of GDP in 2011.
#22 The United States had been the leading consumer of energy on the globe for about 100 years, but this past summer China took over the number one spot.
#23 According to an absolutely stunning new poll, 40 percent of all U.S. doctors plan to bail out of the profession over the next three years.
#24 As 2007 began, there were just over 1 million Americans that had been unemployed for half a year or longer. Today, there are over 6 million Americans that have been unemployed for half a year or longer.
#25 All over the United States, local governments have begun instituting “police response fees”. For example, New York Mayor Michael Bloomberg has come up with a plan under which a fee of $365 would be charged if police are called to respond to an automobile accident where no injuries are involved. If there are injuries as a result of the crash that is going to cost extra.
Yipes, water rates going up 40 percent in Anthem, AZ. 40 bucks a month or more for a 1 inch line for homeowners. Sun City going up but not as much. If one lives in Anthem they have a good half hour to an hour drive to downtown Phoenix. Higher gas prices and many of the houses are likely underwater out there.
Add 480 bucks a year or more on top of what they are already paying. That might put some over the edge.
Add 480 bucks a year or more on top of what they are already paying. That might put some over the edge.
Excuse me, Excuse me, 5 more years. Does this mean 50 more increases in the National Debt Limit?
http://www.cnbc.com/id/40962516
Illinois with a 75 percent increase in income tax rate. How about 5 more years from now. Yep, vote for the Dem. machine and you get what you deserve. I feel for all my relatives still living there but, until they flush the corruption out it is their problem.
Talking to a business owner last night here in AZ. His daughter is getting ready to walk away from condo she pumped 100K into over and above her upgrades. He has a 10K square foot house he was getting an appraisal on to sell yesterday. Reason being, the people are not paying the full rent they agreed too and he can't deal with it any longer.
He is getting ready to open another business, where our son lives, and knows what is going on out there.
http://www.cnbc.com/id/40962516
Illinois with a 75 percent increase in income tax rate. How about 5 more years from now. Yep, vote for the Dem. machine and you get what you deserve. I feel for all my relatives still living there but, until they flush the corruption out it is their problem.
Talking to a business owner last night here in AZ. His daughter is getting ready to walk away from condo she pumped 100K into over and above her upgrades. He has a 10K square foot house he was getting an appraisal on to sell yesterday. Reason being, the people are not paying the full rent they agreed too and he can't deal with it any longer.
He is getting ready to open another business, where our son lives, and knows what is going on out there.
angelatc
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Isn't that actually good news? I would be scared to death to open a business in this economy.
HOLLYWOOD
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All it means is...
"The Federal Government has stolen just about the maximum amount of money and wealth from the people to give to their criminal friends on Wall Street and Fasco-Corporate America. It is time for the states to steal from their citizens... fair warning states, take too much to line you or your crone's pockets, you may have a revolt.
Authorities, Steal In Moderation"
PS: government accounting fraud works for re-elections or ousting opponents too!
"The Federal Government has stolen just about the maximum amount of money and wealth from the people to give to their criminal friends on Wall Street and Fasco-Corporate America. It is time for the states to steal from their citizens... fair warning states, take too much to line you or your crone's pockets, you may have a revolt.
Authorities, Steal In Moderation"
PS: government accounting fraud works for re-elections or ousting opponents too!
squarepusher
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Cowlesy
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Fun fact. Had you bought the S&P 500 ETF "SPY" on the day you started this thread, you'd have a return of approximately 40%.
http://www.google.com/finance?q=NYSEARCA:SPY&ei=5cdoUJCbEeXD0AHj9wE
(don't know if that chart will work or not).
Here's a screenshot.
Danke
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Funner fact. Gold up 80% and silver up 130% during same time frame.
Short the markets at your own peril - the law of diminishing returns (QE and it's ever lessening impact of equity prices) may have largely exausted the run up on equities, but the PLunge Protection Team is hawking equities to ensure crashes are stopped by trading programs - else the USG (and many soverigns) go BUST.
You're better off buying gold/silver and finding a local apple orchard to invest in.
You're better off buying gold/silver and finding a local apple orchard to invest in.
Cowlesy
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Any day now
MRoCkEd
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Where we are today (S&P 500):
https://www.google.com/finance?chdn...e&q=INDEXSP:.INX&ntsp=0&ei=ciltUqiqM8y80QHQBA
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