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Originally posted by pause4thought
reply to post by stander
Celebs more than welcome. When we hit 5,000 posts I suggest a minute's silence - to preserve a fitting atmosphere of solemnity - then we let loose with our images of what the last six months' chaos has meant.
Incidentally, can you, or somebody else, tell me why the Nasdaq is currently doing a right angle?!
[atsimg]http://files.abovetopsecret.com/images/member/826c6637aa2e.png[/atsimg]
Source
Originally posted by Melissa101
Originally posted by pause4thought
reply to post by stander
Celebs more than welcome. When we hit 5,000 posts I suggest a minute's silence - to preserve a fitting atmosphere of solemnity - then we let loose with our images of what the last six months' chaos has meant.
Incidentally, can you, or somebody else, tell me why the Nasdaq is currently doing a right angle?!
[atsimg]http://files.abovetopsecret.com/images/member/826c6637aa2e.png[/atsimg]
Source
In my opinion there are two reasons. One: most middle and lower class individuals just received there income tax checks in the first quarter of the year. The average return is $1800.00 per family and the American's just pumped back into the system over the last quarter. Two: the stimulus package is just now reaching the state governments hands; this will also have a temporary effect on the market. Temporary is the key word here. I predict by June 2009 everything will bottom out, oil prices will skyrocket and the Government will step in and say the stimulus package did not do what they thought it would that the economy was just to far gone, then they will start federalizing everything from the banks to hospitals to maybe even the food supply. You will have a bunch of uneducated people say well poor Obama tried, he gave us a lot of money it just wasn't enough and it was too late, then the government gets off without to much uproar from the American citizens. People will actually be grateful for the federalizing of our economical and social systems, because everyone will be scared out of there skin.
More at Links...
Stiglitz Says White House Ties to Wall Street Doom Bank Rescue
bloomberg.com...
April 16 (Bloomberg) -- The Obama administration’s plan to fix the U.S. banking system is destined to fail because the programs have been designed to help Wall Street rather than create a viable financial system, Nobel Prize-winning economist Joseph Stiglitz said.
“All the ingredients they have so far are weak, and there are several missing ingredients,” Stiglitz said in an interview. The people who designed the plans are “either in the pocket of the banks or they’re incompetent.”
The Troubled Asset Relief Program, or TARP, isn’t large enough to recapitalize the banking system, and the administration hasn’t been direct in addressing that shortfall, he said. Stiglitz said there are conflicts of interest at the White House because some of Obama’s advisers have close ties to Wall Street.
More at Links...
An Open Challenge To The States
market-ticker.org...
I'm stunned.
Washington DC's Pelosi (Speaker of The House) and many of the so-called "drive by" media are trying to play off the "Tea Parties" as some sort of right-wing partisan thing.
They're wrong.
I was one of the first to call for mailing Tea Bags to legislators.
Therefore, on February 1st, which is more than enough time for Barack Obama to be seated in his chair in the West Wing, I am recommending an act of peaceful, lawful and yet unmistakable protest.
That is, to mail President Obama one teabag. Nothing dangerous, nothing illegal - just one teabag.
Send one to your Congressman and one to each Senator.
Washingon Corruption: FRONT AND CENTER
market-ticker.org...
Rep. Jan Schakowsky (D-Ill.) blasted "tea party" protests yesterday, labeling the activities "despicable" and shameful."
"The ‘tea parties’ being held today by groups of right-wing activists, and fueled by FOX News Channel, are an effort to mislead the public about the Obama economic plan that cuts taxes for 95 percent of Americans and creates 3.5 million jobs," Schakowsky said in a statement.
I'll tell you what's despicable and shameful.
CHICAGO (AP) — The husband of an Illinois congresswoman pleaded guilty Wednesday to tax violations and bank fraud for writing rubber checks and failing to collect withholding tax from an employee.
Robert Creamer, a political consultant married to four-term U.S. Rep. Jan Schakowsky, could face four years in prison on the two felony counts when he is sentenced Dec. 21.
More at Link...
Citigroup Sued by Braintree for Selling Disguised Auction Bonds
www.bloomberg.com...
April 17 (Bloomberg) -- Citigroup Inc., which agreed to buy back almost $20 billion in auction-rate securities, was sued over claims that it sold the instruments as money-market investments even while it was under investigation.
The New York-based bank is accused by Braintree Laboratories Inc. of selling the closely held pharmaceutical company about $33.2 million in auction-rate securities last year that were described as money-market instruments.
“The June 2008 through August 2008 sales of auction-rate securities ran parallel to both Citigroup’s internal investigations into its fraudulent marketing practices and its negotiations with multiple government agencies,” the company said in its complaint filed yesterday in federal court in Boston.
Originally posted by Hx3_1963
S&P 500 -4.90 856.60 4/17 0:56am
Fair Value 861.62 4/16 10:00pm
Difference* -5.02
NASDAQ -12.50 1339.50 4/17 0:34am
Fair Value 1351.40 4/16 10:00pm
Difference* -11.90
Dow Jones -50.00 8013.00 4/17 0:54am
===
Shanghai Composite 2,508.51 1:01AM ET Down 25.62 (1.01%)
Hang Seng 15,805.01 1:01AM ET Up 222.02 (1.42%)
Nikkei 225 8,859.24 12:56AM ET Up 103.98 (1.19%)
Seoul Composite 1,319.00 12:57AM ET Down 17.72 (1.33%)
Taiwan Weighted 5,764.98 12:57AM ET Down 232.19 (3.87%) *BAM*
===
Gold $873.63
===
Japan LDP unveils share price emergency plan
www.reuters.com...
[edit on 4/17/2009 by Hx3_1963]
Originally posted by Rockpuck
Looking to the longer term right now, I am looking over S&P500 shares compared to their most recent earnings report, and we are seeing an ever increasing span between profit and price. Most are reporting losses, while stock prices are increasing. Even though we have seen a massive correction that has dropped the DOW and S&P beyond what I would have predicted as "worst case scenario" I have to say the S&P is highly over valued. I think we might see things calm down a bit as far as the rally goes this week, though I would not expect the DOW or S&P to drop anymore then a few points as a weekly average. But we should be seeing if anything a gradual correction of over priced shares to earnings soon. Spring for some reason is always a hot time for markets, kinda like.. rebirth if you will but as we approach summer, I don't feel to optimistic.
Just some long term views of mine.
More at Link...
ABC: Obama 'Unaware of Tea Parties'
White House out of touch with 'cultural phenomenon' of tax day protests.
www.businessandmedia.org...
www.google.com...
Maybe he just doesn’t know that there are people who disagree with his massive tax and spend agenda. That would explain a lot. Perhaps the network media’s near silence on the “tea party” phenomenon has kept President Obama from realizing that hundreds of tax day protests will happen today?
“The White House says the president is unaware of the tea parties and will hold his own event today,” ABC’s Dan Harris said on “Good Morning America” on April 15.
Harris’s story was the first ABC News report specifically about the tea parties since Rick Santelli’s of CNBC’s famous rant calling for a Chicago Tea Party back in February. CNBC’s Joe Kernen referred to Santelli’s impact on spurring the tea parties as a “cultural phenomenon.”