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reply posted on 30-6-2009 @ 01:38 PM by andy1033
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Originally posted by RetinoidReceptor
On Thursday unemployment comes out...it will be interesting to see how high that is and what that does to the markets. Everyone believes that the
markets are going to go down. I guess that means we edge higher 
the government controlling it with all there money, so who knows.
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reply posted on 30-6-2009 @ 01:59 PM by nydsdan
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DJIA -100 at 14:56....
Let's take some bets!
A big bump to -50 or even higher is where my money is at...
:Edit:
Aaaaand I FAIL. 
[edit on 30-6-2009 by nydsdan]
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reply posted on 30-6-2009 @ 02:00 PM by Rockpuck
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reply to post by RetinoidReceptor
I would be highly surprised if unemployment is "better than expected" .. so far only the markets have been rallying, the general economy is in
shambles.. I have not heard any talk though on extending unemployment benefits, has anyone else?
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reply posted on 30-6-2009 @ 02:14 PM by Hastobemoretolife
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reply to post by Rockpuck
The only thing that I have heard about extending unemployment benefits is that they were tucked away into some bill that passed or is up to be voted
on or something like that.
I know in the Cap and Trade bill, there is unemployment benefits for 2 or 3 years, new job training, and it pays for their medical insurance.
That is about the way things are going, just shove through things without reading them.
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reply posted on 30-6-2009 @ 02:35 PM by DaddyBare
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More bad news that AP hasn't bothered to file in light of their "Feel Good" policy...
Delinquencies Double on Least-Risky Loans
Prime mortgages 60 days or more past due climbed to 2.9 percent of such loans through March 31 from 1.1 percent at the same point in 2008, the Office
of the Comptroller of the Currency and the Office of Thrift Supervision said today in a report. First-time foreclosure filings on the loans rose 22
percent from the fourth quarter, the report said.
Serious delinquencies on prime loans, which account for two-thirds of all U.S. mortgages, rose to 661,914 in the first quarter from 250,986 a year
earlier, according to the report. Overall, mortgages 60 days or more past due rose 88 percent from last year, the report said.
Mortgages modified to help struggling borrowers stay in their homes fail within nine months more than half the time, the report said. About 53 percent
of mortgages modified in the first quarter of 2008 were 30 or more days delinquent after six months; 63 percent were in default after a year.
The data shows 5.9 percent of the 21.8 million Fannie Mae and Freddie Mac loans serviced by national banks or thrifts were at least days 30 days late,
in foreclosure or subject to bankruptcy, compared with 3.2 percent a year earlier.
The report covers the performance of 34 million loans totaling $6 trillion, the agencies said.
bloomberg
OTS 09-036 - OCC and OTS Release Mortgage Metrics
Report for First Quarter 2009
Seems like things are starting to unravel for the Obama plan to save homeowners
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reply posted on 30-6-2009 @ 02:53 PM by Avarus
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Can one of you stockmarket superbrains explain this to me? Why does it seem when we have a violent plunge on some days (like today) it seems to just
suddenly stop and level out for the rest of the day?
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reply posted on 30-6-2009 @ 03:05 PM by DaddyBare
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reply to post by Avarus
this was hardly a violent plunge... it could have been...
you'll get a lot of answers to your question some will say bargain hunters buying up everything... there is some of that going on... some will say
the super mega corps start damage control and buy back their stocks to keep them from becoming worthless.... yes they do that too...still others will
say the TPTB are stepping in and propping up the markets, seems more probable everyday...
there's a lot of things happening all at once for any one right answer and with all the creative math and accounting smoke-n-mirrors going on it
becoming really hard to trust any predictions
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reply posted on 30-6-2009 @ 06:52 PM by fromunclexcommunicate
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reply to post by Avarus
A violent plunge goes flat when computer trading is suspended after the market falls through some point range. Todays drop probably ended after the
majority of sell stops were taken out. Either that or there were a lot of buy stops triggered at that level set by some large institutional trader.
The institutional trader will unload those at a better time.
The revised UK 1st quarter GDP numbers were revised down from -1.9% to -2.4%. Thats 26% lower than the sheeple were told. Other world governments
must be using the same strategy of reporting better than expected numbers revising them downward later when fewer people are watching.
[edit on 30-6-2009 by fromunclexcommunicate]
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reply posted on 30-6-2009 @ 07:11 PM by GreenBicMan
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reply to post by Avarus
I wish that was violent brother.
You should go back to late 2008 intraday if you want violent 600 pt moves in one hour lol
But usually the pro's sell off in the morning (bc they deal in futures, and they can get out of anything faster than any retail player) and that is
the name of the game.
Today's action was an ordinary setup infact.. happens quite a bit.. but you have to watch the markets everyday to see it.
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reply posted on 30-6-2009 @ 08:33 PM by Avarus
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reply to post by GreenBicMan
lol, I guess violent was a bit of a strong word. Comparative to the rest of the trading day I would consider it "violent". Thanks for the
responses everyone!
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reply posted on 30-6-2009 @ 08:53 PM by Rockpuck
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Originally posted by Hastobemoretolife
reply to post by Rockpuck
The only thing that I have heard about extending unemployment benefits is that they were tucked away into some bill that passed or is up to be voted
on or something like that.
I know in the Cap and Trade bill, there is unemployment benefits for 2 or 3 years, new job training, and it pays for their medical insurance.
That is about the way things are going, just shove through things without reading them.
2-3 years? Good lord, I would get a job and find a way to get laid off just so I could have a 3 year vacation .. I don't think the States will stand
for extending the benefits much longer.. having several million people collecting all at once is hard on the States. Still it is interesting, and
that's why I brought it up .. it's like a two edge sword. We extend the benefits and we prevent families from loosing everything.. however,
dependency will grow. Cut the benefits off and you spur into action people that will have to work for self betterment, though the effects on the
economy could be catastrophic. Something that definitely needs to be reviewed and have the pros and cons weighed.. though like you say, they will
likely shove it into a bill and pass without many noticing.
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reply posted on 30-6-2009 @ 09:19 PM by Hastobemoretolife
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reply to post by Rockpuck
Here is the text of the bill It will take awhile to load.
section 426
Climate Change Adjustment Allowance-CommentsClose CommentsPermalink
(1) ELIGIBILITY- Payment of a climate change adjustment allowance shall be made to an adversely affected worker covered by a certification under
section 425(b) who files an application for such allowance for any week of unemployment which begins on or after the date of such certification, if
the following conditions are met:CommentsClose CommentsPermalink
(A) Such worker’s total or partial separation before the worker’s application under this part occurred--CommentsClose
CommentsPermalink
(i) on or after the date, as specified in the certification under which the worker is covered, on which total or partial separation
began or threatened to begin in the adversely affected employment;CommentsClose CommentsPermalink
(ii) before the expiration of the 2-year period beginning on the date on which the determination under section 425(d) was made;
andCommentsClose CommentsPermalink
(iii) before the termination date, if any, determined pursuant to section 425(d)(3).CommentsClose CommentsPermalink
(B) Such worker had, in the 52-week period ending with the week in which such total or partial separation occurred, at least 26 weeks of
full-time employment or 1,040 hours of part time employment in adversely affected employment, or, if data with respect to weeks of employment are not
available, equivalent amounts of employment computed under regulations prescribed by the Secretary. For the purposes of this paragraph, any week in
which such worker--CommentsClose CommentsPermalink
(i) is on employer-authorized leave for purposes of vacation, sickness, injury, maternity, or inactive duty or active duty military
service for training;CommentsClose CommentsPermalink
(ii) does not work because of a disability that is compensable under a workmen’s compensation law or plan of a State or the United
States;CommentsClose CommentsPermalink
(iii) had his employment interrupted in order to serve as a full-time representative of a labor organization in such firm;
orCommentsClose CommentsPermalink
(iv) is on call-up for purposes of active duty in a reserve status in the Armed Forces of the United States, provided such active
duty is ‘Federal service’ as defined in section 8521(a)(1) of title 5, United States Code,CommentsClose CommentsPermalink
shall be treated as a week of employment.
I agree, the states can't keep doling out money they don't have. Not to mention with the economy hemorrhaging jobs like it is they are losing people
to pay into it. Not to mention most jobs are only hiring part-time so they don't have to pay benefits.
There is all kinds of nasty stuff in this bill. They are trying to say this will create jobs, but if that is the case then why do they have a whole
part dedicated to unemployment?
This bill will assimilate us all into the collective. I really wish I was joking with that sentence, but I'm not.
[edit on 30-6-2009 by Hastobemoretolife]
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reply posted on 30-6-2009 @ 09:30 PM by Rockpuck
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reply to post by Hastobemoretolife
Thanks for the text. I have noticed lately that all Bills being presented that Obama favors is being touted as a "This Bill will create jobs!" or,
save the planet and create jobs. A play on the emotion, the American people want to feel like their politicians are up late every night thinking of
ways to improve their economy.... when in reality that's far from the truth, but they say what ever they are doing is beneficial.... creating jobs...
even if in reality they are just paying off special interest, lining their own pockets, taxing us more and causing our cost of living to rise.
The military advisers no doubt are already warning that continued abuse to our mental psychy and the break down of trust will surely result, sooner or
later, in armed insurrection. It's the only plausible outcome of such abuses.
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reply posted on 30-6-2009 @ 09:42 PM by Hastobemoretolife
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reply to post by Rockpuck
No problem.
Yea, they are trying to play up this crisis strategy and they are finding out, like all other progressive hair-brained tactics that have never been
tried before, people just don't like being feared into making major decisions, so now they are trying to, as you say, tug at our heart strings and
get us to try not to worry about it even though that don't read the freaking bills.
I'm sure of it, and I'm sure the general's are right there telling him whatever he wants to hear when in reality a Honduras situation will happen.
I could tell you some more stuff that wouldn't come to as a surprise to you, but the people pulling the strings are literally living in their fantasy
land and think they can pull this off.
I'm going to send you a U2U about what more I know.
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reply posted on 1-7-2009 @ 08:23 AM by Vitchilo
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Futures are up even if the ADP report is worse than expected... making good news out of bad news? Again, but more obvious.
And California and many other states can't pay their bills...
ADP Estimates U.S. Companies Cut Payrolls by 473,000
Economists forecast the ADP report would show a decline of 395,000 jobs, according to the median of 29 estimates in a Bloomberg News survey.
Projections ranged from decreases of 280,000 to 532,000.
A Labor Department report tomorrow may show employers cut 363,000 workers from payrolls in June and unemployment rose to a 26-year high of 9.6
percent. The increase from May’s 9.4 percent jobless rate would be the smallest since November 2008.
Yep... Again.
And California..
Muni Downgrades Add Risk, Prize to Bond Game: Jane Bryant Quinn
Warren Pierson, senior portfolio manager of the Baird Intermediate Municipal Bond Fund in Milwaukee, says no to the country’s fiscally
weakest state. California’s credit rating could drop to BBB from A today, he says, raising yields even further. “We would then most likely get
involved.”
By involved.. you mean buying California bonds with pension money?
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reply posted on 1-7-2009 @ 08:47 AM by DaddyBare
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I don't know that any bill can create jobs at this point. Sure building new highways sounds like a good way to get people back to work but with the
states facing huge budgets deficits I'm starting to wonder if the TARP Stimulus monies are going to have to be used just to maintain basic
infrastructure. Schools Police and fire departments....
Man I would love to be a fly on the wall of the Capital building today as the meetings about what to do with states on the verge of collapse take
place... I'm betting that as we've seen in the past the TPTB will overreact.
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reply posted on 1-7-2009 @ 10:08 AM by marg6043
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reply to post by Rockpuck
Already about 16 states can not afford unemployment anymore, the just keep borrowing upon their state deficits to be able to afford the states
budgets.
My state is one of them, as local taxes are already max out and is no enough income generated is not only the Federal government the one feeling the
pinch.
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reply posted on 1-7-2009 @ 10:11 AM by GreenBicMan
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reply to post by Avarus
Its cool
It could have been violent if you were on the line holding some futures contracts though most definately..
Anyways, just for fyi - the markets move the most at beginning of the day at 930am and at the end around 315-400
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reply posted on 1-7-2009 @ 10:19 AM by Vitchilo
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With those kind of stupid moves since march, it looks like they are pushing for a dollar collapse and a strong stock market.
Or as Bilderberg wants... a last stock market surge before the final collapse... we'll see before the year's end.
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reply posted on 1-7-2009 @ 10:55 AM by RetinoidReceptor
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Originally posted by Vitchilo
With those kind of stupid moves since march, it looks like they are pushing for a dollar collapse and a strong stock market.
Or as Bilderberg wants... a last stock market surge before the final collapse... we'll see before the year's end.
Who said Bilderberg wants THAT? Though I think this whole market has become a charade, I just don't feel comfortable entering equities.
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