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The "up-to-the-minute Market Data" thread

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posted on Jun, 25 2009 @ 07:53 AM
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reply to post by Vitchilo
 


No they have not and already financial annalist are saying that its not going to work, I mean whatever they are planning to do to get rid of them.

I am still trying to find more on that.




posted on Jun, 25 2009 @ 08:20 AM
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reply to post by marg6043
 


Budget cuts, lots of people working for the county are getting laid off. I don't think cafeteria workers are on contract though.

What I find funny is that they say oh we expected 600,000 jobs lost, well it turned out to be higher at 627,000, that is higher than we expected.

27,000 jobs is peanuts when you compare it to 600,000. Not to mention didn't they say we only lost 345,000 jobs just earlier this month for the month of May?

It's like they aren't even trying to hide the lies anymore.

Edit to add -

It's even getting ruff for prostitutes.

She gave it up for a 30 dollar package of chips. I guess that gives new meaning the company Frito-Lay.


[edit on 25-6-2009 by Hastobemoretolife]



posted on Jun, 25 2009 @ 08:46 AM
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Originally posted by marg6043
Jobless Claims Show Surprise Gain; GDP Loss Cut to 5.5%


The government says the number of people filing first-time claims for jobless benefits increased last week, partly due to layoffs related to the end of the school year.

The Labor Department says new jobless claims rose by 15,000 to a seasonally adjusted 627,000. Economists expected a drop to 600,000 claims, according to Thomson Reuters.

A department analyst says that states reported more claims than expected from teachers, cafeteria workers and other school employees.


www.cnbc.com...

So what this means, teachers, cafeteria workers and school employees are been fired? because I thought that this jobs comes back every year and teachers contracts are yearly and unless you get fire then you qualify for unemployment.

As usual something doesn't add here.


nope...you should see the massive cuts in school related jobs in california. in LA school district, there is no more summer school, all programs for the disadvantaged, poor, disabled, have been done away with or severly cut. it's going to get ugly here in california, from what i have been hearing. but on the bright side, PRISONS WILL BE FULLY FUNDED!!!!.....cops and firefighters are being laid off, park workers, fix-it crews, all public works and services are open game. huge layoffs in county and city governments up and down the state. time to put a loaded shotgun by the door.

[edit on 25-6-2009 by jimmyx]

[edit on 25-6-2009 by jimmyx]



posted on Jun, 25 2009 @ 11:35 AM
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Well, today is most interesting, Bernanke is getting grilled on Capitol Hill as I type. Will there be indictments? Probably not.

Amazing how many times the man, when given a clear question answers, "I don't remember" to avoid outright perjury.

On another note...

Remember a while back, when I warned folks that your IRA (and probably 401Ks) would soon be in the eye of the .gov. They want your $$???

Well...

Ad ministration explores new bond as option for retirement accounts
Automatic IRAs could rely on government bonds as default investments for employees



Officials in the Obama administration are moving quickly to develop the investment infrastructure behind the president’s proposal for mandatory automatic enrollment in individual retirement accounts, which could be supported by the creation of Treasury-issued retirement bonds.

J. Mark Iwry, deputy assistant secretary for retirement and health policy at the Department of the Treasury, said that administration officials are exploring some “conservative” options for investing the assets of 78 million Americans that he estimates could be automatically enrolled in this “universal” workplace retirement system.

He said that officials have discussed the possibility of making a low-risk life-cycle or target date fund the default investment option for these auto-IRAs, which would be mandatory for employers if they don’t offer a retirement plan to their workers.


Sometimes it really sucks to be right



posted on Jun, 25 2009 @ 11:46 AM
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reply to post by redhatty
 


When the money speaks the court listens, after all he is the man in charge behind the banking cartel he cater too.

Be happy the markets are in the green, because everybody knows who the boss is.




posted on Jun, 25 2009 @ 11:52 AM
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reply to post by marg6043
 


I don't know how much longer Ben will remain in charge of the money. I think this is a set-up to having Summers become head of the Fed.

I am waiting for Issa's turn to question Bernanke, THAT ONE should be really interesting - how many times will we hear, I don't recall??



posted on Jun, 25 2009 @ 11:54 AM
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Originally posted by jimmyx

Originally posted by marg6043

nope...you should see the massive cuts in school related jobs in California. in LA school district, there is no more summer school, all programs for the disadvantaged, poor, disabled, have been done away with or severely cut. it's going to get ugly here in California, from what i have been hearing. but on the bright side, PRISONS WILL BE FULLY FUNDED!!!!.....cops and firefighters are being laid off, park workers, fix-it crews, all public works and services are open game. huge layoffs in county and city governments up and down the state. time to put a loaded shotgun by the door.


Northern California not very far from where you are has had those cut's going for a few years now. It is about time that Southern California had to tighten their belt's the way we have had to over this past few years!
The only reason Southern California is in the news is because it is finally happening. Everyone has already forgotten they did it to Northern California almost 3 years ago and running.
This past budget meeting in 2008 they had to freeze MUCH needed hiring in the civil service job's and ask even MORE of them to retire early. Our school's have systematically been down sized into classes that have a minimum of 40 students to ONE teacher. There is no longer ANY elective classes like art., music, home economics etc. You want classes like that you pay someone in the community dearly to offer a very short class on it.(usually 4 days, one Saturday a week for a month. $115-$135 for the class plus materials you purchase at the store "they tell you too". Normally the over priced privately owned one down town that charges 8 dollars for a tiny tube of paint!)
LA has yet to feel the pain! If they are up in arm's over the "small" amount they are being deprived of now, I would hate to see how they feel when they stick them with what they have already done to the north. Wait till they start to down size the governmental job's and bring in federally based worker's to replace those that live there! We are broke and Washington has made it clear they aren't going to send in any monies to help. You think what is going on now is bad wait till we run completely dry at the end of this month into the middle of next! Then the spark's will fly and not from firecrackers.


sorry quote tags where up top with no closer and quoted the whole thing


[edit on 25-6-2009 by xoxo stacie]

[edit on 25-6-2009 by xoxo stacie]



posted on Jun, 25 2009 @ 12:16 PM
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This is all concerning and interesting...no "simple fix" for SURE!!!

My friend is a "LPN/school nurse" at the public high school who is on the same schedule as the teachers: she is "working" over the Summer while Summer-school is in session.

There is ONE "special needs" student who cannot use the bathroom without help and she is receiving her Summer benefits plus an extended-bonus on her usual salary because she is "required" to be there "in case" he needs her help while he's taking a class.

THIS is how the system got broken,sorry.One single student "with special needs" and they "require" her to be there.

I understand "needs" but perhaps in this case,where the Summer class is usually not mandatory perhaps the burden should fall on his family for his needs and not on the taxpayers???



posted on Jun, 25 2009 @ 12:21 PM
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reply to post by irishchic
 


It's lawsuits, stupid judges taking stupid cases with stupid juries that will award people money in order to get back at "the man". I've seen it, I had jury duty and 2 people out of the 12 wanted to award the plaintiff money even though the law was clearly stated and she was responsible for her injury.

And if the student is that sick that there needs to be a nurse around him 24/7 chances are he shouldn't be at public school. Its sickening.



posted on Jun, 25 2009 @ 12:32 PM
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I remembered reading something on how our school system is doing I found this story from 6/23

ALBUQUERQUE, N.M. (AP) - New Mexico’s congressional delegation says state schools and education programs will share in $213 million in federal stimulus funding.
The delegation announced the funding Monday, saying it would be used to save teaching jobs and reform and improve the public education system.

New Mexico has already received $97 million in education stimulus funds. The delegation said that represents a combination of funding for Title I, the Individuals with Disabilities Education Act, vocational rehabilitation grants, independent living Grants and impact aid.

Sen. Jeff Bingaman said the economic recovery package was designed to stabilize the economy by creating jobs and preserving existing ones. He said the funds will help fill gaps in New Mexico’s education budget so that layoffs will not be necessary and students aren’t forced into crowded classrooms.

Now for a small state like we are... 213 million does go a long way... but I can see see it in a place like Calif it would just cover the cost of what they pay for TP in any given year



posted on Jun, 25 2009 @ 01:04 PM
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Oh wonderful, Obama is now trying to pitch the cap and trade bill as a "jobs" bill.

I hope this thing gets defeated. Now he is calling the opposition to clean energy, misinformation. And he has been listening to Al Gore, he just said there is no longer a debate about CO2 effecting the world.

Bunch of bull#!

Never thought I would say this, but I hope the special interest against this bill actually paid off enough people to stop this from going through.

[edit on 25-6-2009 by Hastobemoretolife]



posted on Jun, 25 2009 @ 01:54 PM
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reply to post by redhatty
 


Bernanke is just a man, the position he holds is the one with the power, anybody that replace him will fill the same agenda that Bernanke and predecessors has done, they serve the banking Cartel behind the Fed.



posted on Jun, 25 2009 @ 01:57 PM
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reply to post by Hastobemoretolife
 


If what you are talking is about the carbon tax, I have to say that this is th most moronic idea coming from this administration either Obama is a moron or he is been surrounded by too many.

This bill will force the last reminding "industries" that happen to be foreign owner ones still working in the US to pack their trash and go.

After all they can go anywhere else without having to deal with this BS.



posted on Jun, 25 2009 @ 02:38 PM
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reply to post by marg6043
 


Agreed.

I guess it also has a bunch of money allocated to it for "green" jobs. I wonder what those are going to run us.

Hopefully we will get some people voted in - in 2010 that will reverse all this crap. Because this bill will hit people directly in their pockets and they are not going to be happy about paying higher prices for the necessities.



posted on Jun, 25 2009 @ 02:47 PM
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And we have some more companies filing Chapter 11.

Debt holders brace for Lear Chapter 11 -NY Post

Boeing's satellite launch subsidiary files for Chapter 11

Consolidated Resorts files for Chapter 11



Obama wants to legalize the illegal aliens.



posted on Jun, 25 2009 @ 03:04 PM
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reply to post by marg6043
 


Obama is probably the most naive President we have ever had... perhaps more so than Jimmy Carter even.

I don't think hes... unintelligent... though I believe he is not exceptionally intelligent in any way either. The people around him however know he's a naive newbie to the political scene, and they are using him as a dummy to get everything they want/need passed feeding him BS. Does he know he's being used? Probably not.. the President lives in their own world which is carefully guarded (Like Bush admitting he had no idea how much gasoline cost) .. Obama very well may think he's saving the World with his "Carbon Tax".

His entire campaign was a Class President sham.. he told the US "I will make the candy machines free, the water fountains pour mountain dew, the lunches 5 star meals served by monkeys in red hats and NO HOMEWORK!!" .. and we all cheered in excitement and elected to goon to find out all those where impossible.

Anyways, I was reading Bloomberg this morning, about the "surprise" rise in unemployment benefits being used .. and some douche bag actually had the audacity to say it was a sign the economy was stabilizing.. *sigh* .. oil over $70.. I might invest in a bicycle ..



posted on Jun, 25 2009 @ 03:06 PM
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reply to post by Hastobemoretolife
 


What's this about Obama wanting to legalize the Aliens??



posted on Jun, 25 2009 @ 03:14 PM
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reply to post by Rockpuck
 


I just saw him talking about it on the news. It's part of his "comprehensive immigration reform" that he wants the congress to start working on.

He said almost verbatim, "Go after unscrupulous employers, and find away to legalize the undocumented workers." He also wants to tighten border security.

But now I'm finding articles that say he said something different. This guy is all over the place. It just ticks me off that he wants to go after the employers instead of the employers AND illegal immigrants.



posted on Jun, 25 2009 @ 03:24 PM
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State shutdowns loom as deadlines near


At least 19 states are still hammering out their spending plans as the recession wreaks havoc with their finances and sparks fights between governors and lawmakers. If spending plans aren't approved, state workers may not receive their paychecks and some government offices may shut down.

"A lot of states are coming down to the wire," said Todd Haggerty, research analyst for the National Conference of State Legislatures. "More than what's typical. The unprecedented economic situation is creating a lot of difficulty this year."


19 states are deadlocked on budgets.. some have already admitted there is no way to pass a budget on schedule, and some admit that if it goes on for to long, as in PA's case, public workers will be forced to work for free.

California obviously has the worst of the worst. This article highlighted a little more detailed plan.. as to.. when CA could officially be bankrupt:


"Next Wednesday we start a fiscal year with a massively unbalanced spending plan and a cash shortfall not seen since the Great Depression," Chiang said. "The state's $2.8 billion cash shortage in July grows to $6.5 billion in September, and after that we see a double-digit freefall."


I believe the Fed's may be bailing CA out of trouble by Fall, though it is hard to tell in these current environments. Unlike the Federal Government, States do not have the ability to generate money from nothing to pay their bills.. when they are out, they are out. They can sell Bonds to cover some of the short fall, but anyone who has followed the complete collapse of the Municipal Bond Market can attest.... it's damn near impossible.

There are of course some severe issues that could arise from select states effectively being bankrupt.. typically they are also ones of higher unemployment.. and we could see one of the greatest migrations of Citizens since the Dust Bowl and Gold Rush eras.

One thing I believe the States are entitled to is a withholding of Federal Income Tax receipts to cover budget losses... What's left after covering the State's emergency budgets could then be sent on to the Federal Government, but I believe we as Citizens of our Free States should ensure the survival of our States before the Federal Government.... Perhaps this could push on the Succession movement, to avoid being financially raped every year by the Federal Government.



posted on Jun, 25 2009 @ 03:41 PM
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Just to expand on RP's last post...


Fitch downgrades California to A-minus
Marketwatch

NEW YORK (MarketWatch) -- Fitch Ratings downgraded California's general obligation credit rating on Thursday to A-minus from A, based on the magnitude of the state's financial challenges and persistent weakening economy. The state's finances will continue to be strained through fiscal year 2010 and beyond regardless of any likely outcome to the current budget impasse, Fitch analysts said in a report. The $69.4 billion in debt outstanding affected by the downgrade are also on Rating Watch Negative, reflecting short-term concerns about the state's ability to solve its liquidity crisis, Fitch said. California was already among the lowest-rated states in the country. Moody's Investors Service rates the state, the nation's most populous, at A2, and said last week it may be downgraded.


California set to issue IOUs as fiscal crisis weighs
Marketwatch

LOS ANGELES/NEW YORK (Reuters) - California's controller said on Wednesday that he would have to issue IOUs in a week if lawmakers can't quickly solve a $24 billion budget deficit, and the state's treasurer plans to tap a reserve fund to meet debt service costs.

The measures came as a budget crisis deepened in the most populous U.S. state and the gridlocked legislature failed to pass a proposed $11 billion in cuts.

"Next Wednesday we start a fiscal year with a massively unbalanced spending plan and a cash shortfall not seen since the Great Depression," Controller John Chiang said in a statement announcing that he would be forced to use IOUs to pay the state's bills beginning on July 2.

Continued...


[edit on 6/25/2009 by Hx3_1963]



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