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Originally posted by Hx3_1963
reply to post by spinkyboo
Yep sad ain't it...and to add salt to the wounds...
Hard-Hit Town Can't Salvage DHL Jobs
Company's Pullout From Wilmington, Ohio Will Eliminate 8,000 Jobs From Community Of 12,000
www.cbsnews.com...
Oh my - 8,000 from a town of 12,000.
That's just crazy.
Wow.
Looking for a miracle here -
Originally posted by GreenBicMan
reply to post by HimWhoHathAnEar
the only thing the dollar has been gaining steady on is the yen (as far as i watch), and that has cooled off considerably.. about 2-3 months ago if you would have said this story I would take it more seriously..
There are so many currency investors worldwide, it would take a citigroup like manipulation (lol) to really be pushing something so one way. I believe the dollar index is in the 80s?
Originally posted by Hx3_1963
[atsimg]http://files.abovetopsecret.com/images/member/e6ca59d50755.jpg[/atsimg]
More at Link...
Alvarez & Marsal Hong Kong Unit Files for Insolvency (Update1)
www.bloomberg.com...
April 17 (Bloomberg) -- The Hong Kong unit of Alvarez & Marsal LLC, the New York firm that is restructuring Lehman Brothers Holdings Inc., sought voluntary protection from creditors because of a business dispute.
The unit of the restructuring firm filed for provisional insolvency to defend itself in a dispute over “the business terms of a contractual agreement,” Alvarez & Marsal spokeswoman Rebecca Baker said today in an e-mailed statement. The company is involved in a lawsuit with a former partner of an entity it acquired in 2005, according to Hong Kong High Court documents.
“This has been a two-year dispute with one individual,” Baker said. “This has no impact whatsoever on our ability to serve clients in Asia or anywhere else, and it has no impact on the rest of Alvarez & Marsal.”
LAYOFF DAILY
Fri 4-17-2009
Hallmark Health -150
Citrus County -18
Manufacturer AMT -40
Weyerhauser Closing Facility -75
Garment Co. Goes Bankrupt -120
City of Seattle -30
Carlyle and Co. Closing Plant -90
and Daniels Law Firm -17
Playworld Systems -38
Kirsh Foundry Inc. -60
Lufkin Industries -92
City of North Port -24
Teradyne -350
Ad Agency Doner -100
Howard Kennedy -40
Toshiba -3,900
Boeing -300
Harley Plant Kansas City -70
ABX Air -518
NY Dept. of Corrections -50
Sony Ericsson -2,000
City of Toledo -300
Railroad Workers In Buffalo -400
Marion County OR -25
Weyerhaeuser -66
NATCO -50
Queen Creek -20
Rum Company Furloughs -50
Detroit EMTs -12
Oremet Corp. -1,000
TOTAL - 10.005 est
Originally posted by marg6043
reply to post by GreenBigMan
No you are wrong, that is the last patriotic hold that our government is selling to the public, we are not the strongest economy anymore.
Economically we can not hold our supremacy in the world and the G20 meeting mark the beginning of a new era and the US is neither calling the shots and neither is the leader economically.
We have too much debt.
We hold the biggest debt in the entire world even whole nations together can not match our debt.
The only thing that we still hold in supremacy and after Obama hack that one out I doubt it, is our military we have the biggest military spending in the world.
The soonest the American people realized that we lost our supremacy economically the faster we can get on with rebuilding what ever is left.
[edit on 17-4-2009 by marg6043]
More at Link...
Citi trade profitable but now tough to execute
www.reuters.com...
NEW YORK (Reuters) - A popular trade involving Citigroup shares could yield fat profits after the bank said on Friday it is not changing terms of a preferred share exchange, but new investors could struggle to get a piece of the action.
The trade involves buying Citi preferred stock and simultaneously selling borrowed shares of common stock (C.N), known as short-selling.
The preferred shares can be converted into common stock in a few weeks, meaning they can effectively be used to buy Citigroup shares at a much lower price than the level at which they can be sold now, potentially yielding a 200 percent profit.
Yes...
now where is this all coming from? a lot of people think this is gov making sure they come out green and just sucking the retail investors money by selling calls and buying puts since marginable stock has been relatively hard to come by for hedge funds and the like... whew out of breath.. but that does not even begin the whole story.
Goldman Sachs Crash the Market in 2008?
A logical analysis of Goldman's behavior from 2006-08 would indicate that is precisely what happened. Why would Goldman crash the stock market? Well, besides the billions to be made from the downside volatility, and back up (V-shape recovery) Goldman would eliminate most of their competition of investment banks (Lehman Bros, Bear Stearns, Merril Lynch) and consolidate the smaller non-merchant banks into tiny bite-size pieces to be digested later, with the help of the corrupted FDIC. Lastly, by crashing the market, and forcing a bailout, they would get sweeping new powers for the FED and Treasury under the guise of new regulation. The existing regulatory bodies, the SEC and CFTC would get zero, while the new massive powers to police capitalism, shut-down entire industries, and replace CEO's would go to none other than the FED. Didn't they start this crisis?
JP Morgan, the only force greater than Goldman Sachs, had decided a few years back that the 100 trillion CDS (Credit Default Swap) market had gotten way to big and unruly and it was time to call in all the chips. Once or twice a century, JP Morgan will issue the order to crash the market and this time Goldman Sachs was called to deliver the bombs.
The CDS market had ballooned to over 100 trillion dollars and it was time, to rein in this monster. Even though sub prime had constituted only 5% of this mess, it would make a great scape goat, to feed to the angry public when the crash happened. The public and media have been dumbed-down over the years because of how technical finance terminology had gotten. Not knowing the difference between a bank and merchant bank. Thinking a derivative is actually an asset (thanks to TARP) and so on.
The beginning of the end: demand for long-term US debt has dried up
DateSaturday, April 18, 2009 at 02:02AM
Greetings fellow inmates!
We’ve reported in QE and its relationship to foreign exchange reserves and China’s foreign exchange reserve growth has slowed down about the declining levels of reserve growth across the world and the effects this is likely to have on the “reserve currency” country and their respective QE programs. As the largest of the reserve currencies, we’ve focused a lot of our attention on the USD, not only tracking the weekly evolution of Uncle Benny’s QE, but also focusing our discussion on how demand for US assets is behaving as it has direct repercussion into how much and how fast Uncle Benny will ramp up QE and eventually bring about a dollar crisis.
On Wednesday, 04.15.09, the Treasury released its TIC data for February, and lo and behold they showed a declining demand for long-term US assets. Private foreigners bought $68bln of Treasury bills but only $23.5bln of Treasury notes and bonds. Other than that, foreigners were still net sellers of Agency debt and long-term corporate debt. Below is a chart of the detail.
Originally posted by GreenBicMan
If we are not the strongest country in the world anymore, you should def. move to the strongest one if you fear for your livelihood in this one.
More at Link...
China says key currency countries need watching
www.reuters.com...
BOAO, China (Reuters) - Chinese Premier Wen Jiabao said on Saturday that the economic polices of countries which issue global reserve currencies require closer supervision as part of building a diversified international monetary system.
Wen and central bank governor Zhou Xiaochuan also cautioned against jumping to the conclusion that China is already on the path to economic recovery, after data issued on Thursday showed signs of an upturn in momentum.
Wen's currency comments, an apparent reference to U.S. economic management that Beijing has blamed in part for the global financial crisis, were twinned with a pledge to promote more international use of the Chinese yuan.