|
Poco
|
 |
« on: May 08, 2007, 11:18:17 PM » |
|
|
|
|
|
« Last Edit: May 10, 2007, 11:20:24 PM by Klondike »
|
Logged
|
"Our country is now geared to an arms economy bred in an artificially induced psychosis of war hysteria and an incessant propaganda of fear." ----General Douglas MacArthur
"American GIs are not toy soldiers to be moved around on some global game board." ----General Colin Powell
|
|
|
|
JJ
|
|
« Reply #1 on: May 08, 2007, 11:47:00 PM » |
|
Did greed ever really just up and step into the background? Think of the cost to pay the piper on this one!
|
|
|
|
|
Logged
|
'Life isn't about how to survive the storm,
But how to dance in the rain.'
|
|
|
|
JJ
|
|
« Reply #2 on: May 10, 2007, 04:47:50 PM » |
|
Klondike you should do the financial updates for the news sites! You put things in a nutshell with one sentence pulling it all together!!! Nice read, just cut to the chase.
|
|
|
|
|
Logged
|
'Life isn't about how to survive the storm,
But how to dance in the rain.'
|
|
|
|
Poco
|
|
« Reply #3 on: May 10, 2007, 11:45:55 PM » |
|
Lesson # 1 Predictive Accuracy of Pompous Prognosticators in Forecasting Stock Market Movements "I cannot help but raise a dissenting voice to statements that we are living in a fool's paradise, and that prosperity in this country must necessarily diminish and recede in the near future." - E. H. H. Simmons, President, New York Stock Exchange, January 12, 1928 "When the financial and business history of 1929 is finally written, developments of the past fortnight will occupy a prominent place in what will doubtless be the chronicle of an exceptionally brilliant twelve month period." - The New York Times, July 1929 "It becomes increasingly evident that, in many respects, 1929 will be written into the commercial history of the country as the most remarkable year since the World War in point of sustained demand for goods and services." - The New York Times, August 1929 "There may be a recession in stock prices, but not anything in the nature of a crash." - Irving Fisher, leading U.S. economist , New York Times, Sept. 5, 1929 "Stock prices will stay at high levels for years to come, says Ohio economist" - The New York Times, II, Page 7, Col. 2, Oct 13, 1929 "Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as (bears) have predicted. I expect to see the stock market a good deal higher than it is today within a few months." - Irving Fisher, Ph.D. in economics, Oct. 17, 1929 And on and on at: http://www.cjseymour.plus.com/finan/prognost.htm(The Pompous Prognosticators Hall of Fame) |
|
|
|
« Last Edit: February 13, 2008, 01:20:53 AM by Klondike »
|
Logged
|
"Our country is now geared to an arms economy bred in an artificially induced psychosis of war hysteria and an incessant propaganda of fear." ----General Douglas MacArthur
"American GIs are not toy soldiers to be moved around on some global game board." ----General Colin Powell
|
|
|
|
ancona
|
|
« Reply #4 on: May 11, 2007, 03:25:29 AM » |
|
My husband and I talk abut the issue of fewer and fewer jobs in this country. How many more jobs will be outsourced?/ We are on the way to becoming a third world country, ripe for takeover or to be controlled.
I am 61, and to see what has happened, frightens me and prospects for the younger kiddos. Parents of young children need to be more vocal, I know it is hard, with youngsters, but, if we want to keep our Religious Freedom, and not wear certain types of clothing, worship or not worship as we please, HAVE JOBS FOR THE FUTURE GENERATIONS, Parents and Grandparents need to be more vocal with the government and whom we elect. I certainly, hope, that many see beyond religion and abortion in the upcoming elections.
Yes, the economy is really bad, I see it here in southeastern mass.
Sandi
|
|
|
|
|
Logged
|
|
|
|
|
JJ
|
|
« Reply #5 on: May 11, 2007, 09:42:17 PM » |
|
My husband and I talk abut the issue of fewer and fewer jobs in this country. How many more jobs will be outsourced?/ We are on the way to becoming a third world country, ripe for takeover or to be controlled.
I am 61, and to see what has happened, frightens me and prospects for the younger kiddos. Parents of young children need to be more vocal, I know it is hard, with youngsters, but, if we want to keep our Religious Freedom, and not wear certain types of clothing, worship or not worship as we please, HAVE JOBS FOR THE FUTURE GENERATIONS, Parents and Grandparents need to be more vocal with the government and whom we elect. I certainly, hope, that many see beyond religion and abortion in the upcoming elections.
Yes, the economy is really bad, I see it here in southeastern mass.
Sandi
Very good point about jobs disappearing. IBM is going to lay off 150,000 people in america this year and where do you think they plan to take those jobs to? other countries. These companies think that if they take their mfg. out of this country and make it someplace else then sell it back here they will make some huge profit. Well when they run out of people who are making any kind of decent wage here to buy their stuff I guess they will then be out of business, wont they? Or do they think other countries have so many wealthy people that would just line up to get their products? You know with the emails I receive urging May 15th to be a day to not buy any gasoline at all to show them we are not some fools believing them, what else would make them take notice? How about we all stop buying anything for a week except for the basics like food, gas to get to work and thats all. Imagine not one tv sold, not one washer/dryer, automobile, house, condo, airplane ticket, new shirt, dress, shoes, refrig, stove etc? Think they would notice? And put americans back to work with a decent wage? |
|
|
|
|
Logged
|
'Life isn't about how to survive the storm,
But how to dance in the rain.'
|
|
|
|
Poco
|
|
« Reply #6 on: May 12, 2007, 03:58:46 PM » |
|
They would certainly notice a global stock market rout. February 27, 2007 was just a hint.AP
Stocks Have Worst Day Since 9/11 Attacks: Dow Down 416, Nasdaq Drop 97 on Global Market Plunge
http://biz.yahoo.com/ap/070227/wall_street.html
Are we now on a precipice?
Consumer Spending Falls in April
By Howard Schneider
Washington Post Staff Writer
Friday, May 11, 2007; 5:16 PM"Retail sales fell in April as higher gas prices and a still-weak housing market took a toll on one of the mainstays of the U.S. economy. New data from the Commerce Department this morning indicated that consumers spent $372 billion in April, a decline of 0.2 percent from the month before. ........................... The April retail sales figures reinforce what individual chains from Wal-Mart to more specialized stores such as the Gap began reporting a day before. Wal-Mart, which reported that same-store sales declined 3.5 percent in April, and the Gap, where same-store sales fell 16 percent, were among a broad array of retailers who said business had weakened in April." (All but very high end cutting back on spending.)"But more broadly, the new data are consistent with the concerns of analysts who see consumer spending as a weakening bulwark between moderate growth and an economic slowdown or recession." (Translation: the dam is fixing to break.)"The most recent statistics on Gross Domestic Product showed the American economy growing at just 1.3 percent -- a figure kept afloat by continued consumer spending. If American shoppers now pull back, it could push that figure even lower." (Think Katrina)"This report is soft," Ian Shepherdson, chief U.S. economist with the High Frequency Economics consulting firm, wrote in an analysis of the latest data. "One bad month does not make a trend," but the drop in spending "is consistent with the surge in gas prices and the accompanying drop in consumer's confidence." (Translation: report is bad and bad looks here to stay)"The use of home equity and rising wages have both helped boost consumer spending in recent months. But trouble in the real estate market has made homeowners more wary about using their residence as a source of cash, and a jump in gasoline prices is now eating into those wage gains. Average gasoline prices hit a near-record $3.05 a gallon recently and are predicted to remain near $3 a gallon for the summer." (Translation: we got no cash, no credit, either)The drop in consumer spending was mixed across different categories of goods. (Means we can't afford jack)Spending on building materials and supplies fell -- an echo of the weak real estate market -- as did spending on clothes, sporting goods, books and music, and in restaurants. (Yep, Americans are flat broke)I think a consumer strike could have a big impact, but we seem to be cutting spending whether we want to or not, anyway!
|
|
|
|
|
Logged
|
"Our country is now geared to an arms economy bred in an artificially induced psychosis of war hysteria and an incessant propaganda of fear." ----General Douglas MacArthur
"American GIs are not toy soldiers to be moved around on some global game board." ----General Colin Powell
|
|
|
|
dingbat
|
|
« Reply #7 on: May 12, 2007, 08:14:19 PM » |
|
"I think a consumer strike could have a big impact, but we seem to be cutting spending whether we want to or not, anyway!" All very good points. One thing to always keep in mind, the inflation rate is not based on what economists call volatile items, which are food and fuel. Why they do this I have no idea. If they factored inflation by adding in those "volatile" items, I am sure it would be at least 10% each year for the last few years. Gasoline alone has doubled in the last 5 years alone. With the loss of so many good paying jobs, it seems like we will have to work 2 jobs to pay the bills.  db |
|
|
|
|
Logged
|
I used to think that anyone doing anything weird was weird. I suddenly realized that anyone doing anything weird wasn't weird at all and it was the people saying they were weird that were weird.
|
|
|
|
JJ
|
|
« Reply #8 on: May 12, 2007, 08:48:26 PM » |
|
They would certainly notice a global stock market rout. February 27, 2007 was just a hint.AP
Stocks Have Worst Day Since 9/11 Attacks: Dow Down 416, Nasdaq Drop 97 on Global Market Plunge
http://biz.yahoo.com/ap/070227/wall_street.html
Are we now on a precipice?
Consumer Spending Falls in April
By Howard Schneider
Washington Post Staff Writer
Friday, May 11, 2007; 5:16 PM"Retail sales fell in April as higher gas prices and a still-weak housing market took a toll on one of the mainstays of the U.S. economy. New data from the Commerce Department this morning indicated that consumers spent $372 billion in April, a decline of 0.2 percent from the month before. ........................... The April retail sales figures reinforce what individual chains from Wal-Mart to more specialized stores such as the Gap began reporting a day before. Wal-Mart, which reported that same-store sales declined 3.5 percent in April, and the Gap, where same-store sales fell 16 percent, were among a broad array of retailers who said business had weakened in April." (All but very high end cutting back on spending.)"But more broadly, the new data are consistent with the concerns of analysts who see consumer spending as a weakening bulwark between moderate growth and an economic slowdown or recession." (Translation: the dam is fixing to break.)"The most recent statistics on Gross Domestic Product showed the American economy growing at just 1.3 percent -- a figure kept afloat by continued consumer spending. If American shoppers now pull back, it could push that figure even lower." (Think Katrina)"This report is soft," Ian Shepherdson, chief U.S. economist with the High Frequency Economics consulting firm, wrote in an analysis of the latest data. "One bad month does not make a trend," but the drop in spending "is consistent with the surge in gas prices and the accompanying drop in consumer's confidence." (Translation: report is bad and bad looks here to stay)"The use of home equity and rising wages have both helped boost consumer spending in recent months. But trouble in the real estate market has made homeowners more wary about using their residence as a source of cash, and a jump in gasoline prices is now eating into those wage gains. Average gasoline prices hit a near-record $3.05 a gallon recently and are predicted to remain near $3 a gallon for the summer." (Translation: we got no cash, no credit, either)The drop in consumer spending was mixed across different categories of goods. (Means we can't afford jack)Spending on building materials and supplies fell -- an echo of the weak real estate market -- as did spending on clothes, sporting goods, books and music, and in restaurants. (Yep, Americans are flat broke)I think a consumer strike could have a big impact, but we seem to be cutting spending whether we want to or not, anyway! Klondike not a strike just a stopping of buying anything anywhere in the U.S. for one week except for gas to get to work and food. People could make sure their medicine was stocked up before the week of no spending. This dribs and drabs, lil here, lil there of no spending is not having a great enough impact as a week's worth would do. In order to spend money you have to make decent money just to put a roof over your head let alone food on your table. Forget about medicine, lots of people do without it. Until companies hire back AMERICANS with a LIVING wage this situation will proceed to get even worse. |
|
|
|
|
Logged
|
'Life isn't about how to survive the storm,
But how to dance in the rain.'
|
|
|
|
JJ
|
|
« Reply #9 on: May 14, 2007, 07:15:30 PM » |
|
"I think a consumer strike could have a big impact, but we seem to be cutting spending whether we want to or not, anyway!" All very good points. One thing to always keep in mind, the inflation rate is not based on what economists call volatile items, which are food and fuel. Why they do this I have no idea. If they factored inflation by adding in those "volatile" items, I am sure it would be at least 10% each year for the last few years. Gasoline alone has doubled in the last 5 years alone. With the loss of so many good paying jobs, it seems like we will have to work 2 jobs to pay the bills. db I think you answered the question of why they don't include the food and fuel: it would scare the holy bejeezus out of everyone and crash the market since they'd be thinking Bernanke would have to raise interest rates. But for now we know how bad the inflation things is and eventually it will effect consumer spending. I think they actually spin the high fuel costs to make consumer spending look good. Baloney! JJ - I get that you mean a shopping strike, not a work strike. I like the idea and will write you a message to your Itchmo mailbox. Now I'll post another look at the greatest farce on earth - Fall Street. Klondike not a shopping "strike". Nowhere did that word ever get mentioned by me. I just meant people need to buy gas to drive to and from their jobs and need to have food to eat but you do without the rest of the material things for 1 week. Should companies not see any profit made for one solid week then something will get recognized as they are dealing with the people who keep them in business and without us they are NOTHING, zip, nada, they cease to exist. Dont worry people will not lose their jobs but the companies will be paying attention and willing to listen or we just keep our pocket books and wallets closed. Remember everyone - THEY CAN NOT MAKE YOU SPEND ANY MONEY. We have the greatest assest in our wallets - keep it there for just one week and see how much things would change cause we could bring about this change with closing our wallets and purses for just one week. Think about it at least..... |
|
|
|
|
Logged
|
'Life isn't about how to survive the storm,
But how to dance in the rain.'
|
|
|
|
Poco
|
|
« Reply #10 on: May 15, 2007, 11:01:45 PM » |
|
PAUL B. FARRELL Psych jobs
The 10 myths Wall Street employs in its war on Main StreetBy Paul B. Farrell, MarketWatch Last Update: 7:16 PM ET May 14, 2007 ARROYO GRANDE, Calif. (MarketWatch) -- Borrowing a line from Winston Churchill, you could say Wall Street's a "riddle inside a mystery wrapped in an enigma." Wall Street is so complex and hidden beneath so many layers of secrecy that myth often seems the only way to understand it. That's the message from Hassim Nicholas Taleb, author of "Fooled by Randomness:" "Myths, particularly well-aged ones ... can be far more potent (and provide us with more experience) than plain reality." http://tinyurl.com/3997wx |
|
|
|
« Last Edit: September 16, 2008, 12:45:31 AM by Poco »
|
Logged
|
"Our country is now geared to an arms economy bred in an artificially induced psychosis of war hysteria and an incessant propaganda of fear." ----General Douglas MacArthur
"American GIs are not toy soldiers to be moved around on some global game board." ----General Colin Powell
|
|
|
|
Poco
|
|
« Reply #11 on: May 17, 2007, 11:09:25 AM » |
|
The Mortgage Lender Implode-O-Meter http://ml-implode.com/Up to 72 now, a couple of days ago, it was 66. Worries me. |
|
|
|
« Last Edit: March 28, 2008, 12:19:58 AM by Klondike »
|
Logged
|
"Our country is now geared to an arms economy bred in an artificially induced psychosis of war hysteria and an incessant propaganda of fear." ----General Douglas MacArthur
"American GIs are not toy soldiers to be moved around on some global game board." ----General Colin Powell
|
|
|
|
dingbat
|
|
« Reply #12 on: May 17, 2007, 05:17:12 PM » |
|
Hey Klondike Thanks for the link. Looks really grim for the lending institutions doesn't it? You know they keep telling us that the demand for gasoline stays the same, people are still driving as much as before. This is like saying the demand for food stays the same, people are still eating as much as before. What IDIOTS.  Of course the demand is staying the same, how would we get to work idiots??  Not everyone can take public transit. Of course since we spend lots on fuel (me about $100 a week to work) we don't have much to spend on anything else. This doesn't take a genius to figure out. Until the all seeing, all knowing federal government puts a halt to this the economy will head for the toilet. db  |
|
|
|
|
Logged
|
I used to think that anyone doing anything weird was weird. I suddenly realized that anyone doing anything weird wasn't weird at all and it was the people saying they were weird that were weird.
|
|
|
|
JJ
|
|
« Reply #13 on: May 17, 2007, 07:33:47 PM » |
|
Hey Klondike Thanks for the link. Looks really grim for the lending institutions doesn't it? You know they keep telling us that the demand for gasoline stays the same, people are still driving as much as before. This is like saying the demand for food stays the same, people are still eating as much as before. What IDIOTS. Of course the demand is staying the same, how would we get to work idiots?? Not everyone can take public transit. Of course since we spend lots on fuel (me about $100 a week to work) we don't have much to spend on anything else. This doesn't take a genius to figure out. Until the all seeing, all knowing federal government puts a halt to this the economy will head for the toilet. db My thoughts too on the 'toilet'. Just heard a rep from an agency in Florida this morning re: the people are revolting against the higher and higher property taxes they are trying to stiff them with. She said: "You can not tax people beyond their ability to pay". Same with corporations expecting you to continue to support them while they are skimming off the top and bottom giving millions to their CEO's while their average worker has to live from paycheck to paycheck and is just one check away from losing everything. So now with the premium food and premium human grade food we are giving to our pets that also takes away money we would have had to use for other things. So boo hoo to all of the big corporations that care less and less for the workers over here. You can take your stuff and have it made in another country but remember when you bring it back here to sell it who will have the money to buy it since you just get such pure enjoyment out of putting people out of work here? You can have it sit in your warehouses collecting dust and maybe whistle and hope someone will hear you and start to buy your stuff again. Fat Chance cause WE IN THE U.S. DO NOT HAVE ANY MONEY. We afford gas and food just barely so dont expect anything else from us til you give americans decent paying jobs over here. |
|
|
|
|
Logged
|
'Life isn't about how to survive the storm,
But how to dance in the rain.'
|
|
|
|
CodyBear
|
|
« Reply #14 on: May 17, 2007, 09:59:36 PM » |
|
What IDIOTS. Of course the demand is staying the same, how would we get to work idiots?? Not everyone can take public transit. Of course since we spend lots on fuel (me about $100 a week to work) we don't have much to spend on anything else. This doesn't take a genius to figure out. Until the all seeing, all knowing federal government puts a halt to this the economy will head for the toilet. db I'm 53 and I'm seriously thinking about buying a motorcycle. I'll be one of those momma bikers, but at least I'll have some money left over after I buy gas for it. The gas prices aren't going to go down. Did everyone forget our President's and Vice-President's ties to big oil companies? I go to work in the morning, but by the end of the day, gas prices have jumped another 20-cents/gallon. Someone is getting rich, and I can guess who it is. Just remember when election day arrives. |
|
|
|
|
Logged
|
|
|
|
|
