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

reply to post by Hx3_1963


The IOU's to my knowledge do not promise any interest return, and they are not limited to tax returns (which they have already for the most part paid out).. the people receiving the IOU's will be State workers, and contractors... which the could force the contractors into bankruptcy or force them to withhold paying their workers.. either way, California it appears is screwed.

www.cnbc.com...

Art Cashin from UBS who is interviewed on CNBC every morning said today that markets were staggering and he thinks that there may be multiple corrections and people will get frustrated when buying into one correction and then losing money in the next one. He also said that this rally is very difficult to understand and that many people who are veterans like him (on wall street for 30 yrs.) are confused by the nature and movements. He also mentioned that the good news is from Chinese and U.S. gov. spending and is not sustainable.

I won't go back into equities for a while, forex is much better.

reply to post by RetinoidReceptor


It's nice to hear a vet in the market like him confirm what we all believe here .. that the market is acting irrationally, not following any normal movement..

I personally think it all comes down to the banks being flooded with cash. It's clear to see who's manipulating the markets.

Welcome to he NWO economies

Thousands of BA staff agree to pay cut

More than 1 in 6 British Airways staff have agreed to work for free, take unpaid leave or work part-time, the airline said Thursday after the announcement of cost-cutting measures last week.

"This is a fantastic first response. I want to thank everyone who has volunteered to help us pull through this difficult period," Willie Walsh, British Airways' chief executive, said in a statement.

Of the 40,000-strong workforce, 6,940 employees had volunteered for unpaid leave, part-time working or unpaid work by June 24. Their actions will save the company up to £10 million ($16 million), the company said.

www.cnn.com...

reply to post by DangerDeath


Gee.... I certainly hope they get thrown a nice share incentive for their sacrifice.. Then again, corporations rarely value sacrifice.. they might get a nice pat on the back.

Originally posted by Rockpuck
reply to post by DangerDeath

 

Gee.... I certainly hope they get thrown a nice share incentive for their sacrifice.. Then again, corporations rarely value sacrifice.. they might get a nice pat on the back.

From this very same situation socialist countries were destroyed.

Zigakly the same.

gee kickbutt day in the USA markets......govt bonds rallied down to 3.54

stocks up aprox 175...........

reply to post by cpdaman


You didn't hear the good economic news cp?

Unemployment up

A few big corporations may go Chap. 11

UBS forcasting a second quarter loss (I thought the banks were making profi..... oh ya. That was money laundering from the feds through AIG my bad)

Japan showing signs of severe deflationary contractions

New Home sales hitting all time record lows (since records began in 1968)

And finally GDP only shrank 5.5%

yay for good news!

reply to post by Rockpuck
OH...and this should help :shk:

Japan to order Citi to suspend some ops: reports
Marketwatch

LOS ANGELES (MarketWatch) -- Japanese financial regulators are set to sanction Citigroup Inc., demanding it suspend some of its business due to overly lax money laundering controls, reports said Friday. Tokyo-traded shares of Citi were down 3.6% following reports

UPDATE 1-Capitalism, IMF and World Bank under fire at U.N.
www.reuters.com...

UNITED NATIONS, June 25 (Reuters) - Ecuador's left-wing President Rafael Correa blamed capitalism on Thursday for the global financial crisis, suggesting at a U.N. conference that the International Monetary Fund and World Bank be abolished.

Criticism of the IMF and other so-called Bretton Woods institutions established during World War Two has become a running theme at a three-day meeting of the U.N. General Assembly on the crisis.

"Patching up the Bretton Woods system, which we do not control, makes no sense for (developing) countries," Correa said in a speech on the second day of the conference.

Reforming the IMF and World Bank "would be an insufficient stopgap solution," he said, adding that "we are faced with a crisis unlike those (previously) provoked by capitalism."

GM says bankruptcy sale delay would kill suppliers
www.reuters.com...

DETROIT (Reuters) - General Motors Corp needs to exit from bankruptcy quickly in order to avoid a "fatal" blow to many of its suppliers and the loss of thousands of jobs, Chief Executive Fritz Henderson said in a court filing on Thursday.

"Many of GM's suppliers are already in the midst of a severe liquidity crisis, which has only been exacerbated by the current shutdown of certain GM production facilities," Henderson said.

GM has shut 13 of its U.S. assembly plants for up to 11 weeks in some cases as part of a bid to cut production and run down inventory as it reorganizes.

More at Links...

[edit on 6/25/2009 by Hx3_1963]

reply to post by Hx3_1963


I completely agree with the third world nations... (notice that the UK and Ireland were the latest victims to be snagged by the IMF though, hardly third world) the IMf and the World Bank desperately need to be abolished. All debts forgiven. If ever there was a Globalist/Elitist organization, it is the IMF/World Bank. A disgusting and vulgar assault on World Sovereignties.

As for GM, like Chrysler Obama hoped to ram them through the judicial system of bankruptcy in an absurdly short amount of time. Just like everything else Obama does, when ever it comes into his mind he expects the Legislature or the Judicial branches to "just get it done". Unfortunate for this complete political Newb, he didn't expect that some of the wealthiest individuals and institutions had GM/Chrysler debt, and are fighting tooth and nail in courts to prevent the Federal Government from deciding who gets paid what.

Sorry Obama, you fail.

reply to post by Hx3_1963 and Rockpuck


I have to agree with the IMF and World bank being abolished myself. Although I don't think capitalism is to blame. I blame the exploitation of the developing nations on corporatism/globalism.

I could be wrong about this, but developed countries have let the corporations run amok, and have not properly regulated them, or more correctly stated, let them grow into behemoths that should have failed long long ago. I would also blame it on developing nations trying to get the results of (for the sake of argument) capitalism, or an unplanned economy, with a planned economy, which we know are completely different economically.

I feel that capitalism is just a convenient scapegoat that socialist use because they fail to realize that socialism is a failed economic system, and due to the type of personality it takes to gain a position of power such a Prime Minister, President, Dictator, etc. that they want to be the first ones to "make it work" so to speak, or they just want to maintain control.

I just find it odd, socialism, or more accurately a centrally planned economy has failed everywhere it has been tried. A perfect real world example of this is, China. In 50 years they are well on there way to becoming a superpower, all because they let the markets decide for themselves.

I just don't see how these countries that believe in the redistribution of wealth are ever going to achieve developed nation status, when the can't seem to understand the basic concept that you need rich entrepreneurs to invest and create jobs and wealth. If you take it all from them they leave.

reply to post by DangerDeath


it kind of makes you wonder 7000 employees decide to work for free and the ceo is estatic saving 16 mil he'll probably get the ok from the board members to hire 3 or 4 new vice presidents at 3 or 4 mil a year and scarf up that savings i just hope those 3 or 4 guys can run a beltloader and put 4000lbs of bags on each and every plane check in 300 passengers on a triple seven and run a forklift on an engine change and pull 24hrs on graveyard i have to see this im thinking i would short BA stock here but im just a mechanic they try to keep me in the dark and dont tell me nothing can you say smoke and mirrors i thought you could be afraid be very afraid

Originally posted by robatmj12
reply to post by DangerDeath

 

it kind of makes you wonder 7000 employees decide to work for free and the ceo is estatic saving 16 mil he'll probably get the ok from the board members to hire 3 or 4 new vice presidents at 3 or 4 mil a year and scarf up that savings i just hope those 3 or 4 guys can run a beltloader and put 4000lbs of bags on each and every plane check in 300 passengers on a triple seven and run a forklift on an engine change and pull 24hrs on graveyard i have to see this im thinking i would short BA stock here but im just a mechanic they try to keep me in the dark and dont tell me nothing can you say smoke and mirrors i thought you could be afraid be very afraid

It is plain obvious from this example how cost effective emotional conditioning of people is.

All those who feel sorry for themselves fell for this proposal.
Along with this feeling of self pity they also must feel very proud of themselves. Now all the elite has to do is play some anthem like music or marches and make them all cry into the feeling of "togetherness".

- Can we do it comrades?
- Yes we can!

reply to post by DangerDeath


thanks for your reply i think were on the same page you see what im seeing what happened to the faa has it been disbanded can they not see through this cost savings at BA dah last year they grounded amr for some clamps in the gear well of md80s we got so much press it was pathetic a few clamps were reversed but i would ride on that plane for ten more years before i would consider looking into it and slap mary shiavo around a bit she offers no solutions and just points out the problems i think theres like 19 clamps in the gear well of an md 80 and one or two were reversed and she grounded the fleet with her lip service over 200 planes sent everybody to the hotel i watched it live and in person now we have 7000 missing employees at BA and the FAA and mary shiavo are turning a blind eye and cnbc says BA will be leaner and meaner and is running on all cylinders now and is considered to be an out performer i would call mary and get her advice since shes so valuable i just hope she has alot of trips planned on BA this summer and takes a few delays shes so intellectual i dont know what we'd do without her input on things

Sorry to intrude here but just wanted to add my thoughts.....

I don't think it's strictly the capitalist system that's at fault but there is something most definitely wrong with most 'big' businesses now. There's no respect from the top, for the workers, and there's no respect from the workers, for their bosses. Both need each other but seem to have forgotten that.

Gone are the days when someone began work at a company, got full training and the owners looked at that training as an investment. Those people usually stayed with the company till they got their gold pocket watch at retirement. Now owners don't see training as an investment and just want to turn as much money as possible without caring if the worker leaves.

Same vice versa - workers usually worked their way up and became the bosses. They'd got their hands dirty and they valued their workers because they'd once been in their shoes. Workers now resent that someone with no real experience (just college qualifications) can come in, shake things up and change everything just to make some money fast.

I think if we could get back to a bit of mutual respect and learn to value both those at the top for creating jobs and the workers for keeping the business going, then we might actually start to move forwards again.

Originally posted by Rockpuck
reply to post by cpdaman

 

You didn't hear the good economic news cp?

Unemployment up

A few big corporations may go Chap. 11

UBS forcasting a second quarter loss (I thought the banks were making profi..... oh ya. That was money laundering from the feds through AIG my bad)

Japan showing signs of severe deflationary contractions

New Home sales hitting all time record lows (since records began in 1968)

And finally GDP only shrank 5.5%

yay for good news!

Morgan Stanley is set to post a loss as well. GS is set to post a profit due to trading profits. I think it matters more on what BAC, WFC and C post since they are more attached to the economy.

reply to post by Rockpuck


I agree with you and Retinoid, the reason the markets are irrational is because the manipulations that has been on going since the end of last year to keep them afloat.

It is not the natural way of things and as long as those influences keeps feeding them we will never find out how good or bad they are or it they can survive on their own.

But hey we all know what is going on.

BERNANKE is angry at congress. He's basically threatenning to collapse the economy if the FED is audited... what a piece of garbage. BRING IT ON! It will happen anyway, so we better get the FED while we can.

Here

“My concern about the legislation is that if the GAO is auditing not only the operational aspects of the programs and the details of the programs but making judgments about our policy decisions would effectively be a takeover of policy by the Congress and a repudiation of the Federal Reserve would be highly destructive to the stability of the financial system, the Dollar and our national economic situation.”

And HR1207 is at 241 co-sponsors! YAY! But today, they will try to pass the cap and trade BS while the medias are focusing on the Jackson death...

Income Jump Largest in a Year; Savings at 15-Year High

www.cnbc.com...

Well I will like to know what sector of the population have that "income jump" because unemployment raises paint a different picture.

Personal experience here My husband got a very nice income increase of 10 thousand dollars this year.

But now 5 months later, the government after a survey on his job tittle and others wants to convert its job into a government job and cut his salary sustainable, I mean in his case about 25 thousand dollars less.

That is incredible, a lot of people in his line of work within the defense branch are very angry and scare at the same time.

I guess this how Obama is planning to expand the government and at the same time claim job grow with jobs incomes cuts.

funny.

Wait a second...markets are down because people are actually saving. I understand WHY it is, but this just demonstrates that what is good for the markets is usually not good for the common person.