12%ayear's Account Talk

[Tempest]

Yup.
I remember the late 70's and early 80's-straws in the wind-movie house/multiplex would close. Starts small.
My local Subway sandwich (nearly everyone goes to lunch to) no longer gives dollar off specials anymore ("WTF! When did that happen blah blah blah..").
Little small things.
Unemployed hired as contract -no 'bennies' -already happen to one family member in the mortgage industry.

 

[12%ayear]

Automakers began 2008 expecting the worst year for U.S. auto sales in a decade. So far, they're getting what they anticipated.
Sales dropped by double digits in March, even for usual stalwarts like Toyota. And with fragile consumer confidence, falling home values, tightening credit and high energy prices, it may be some time before auto sales recover http://biz.yahoo.com/ap/080401/auto_sales.html

 

[hessian]

12%
I heard a dubious source basically emphasize that today's action was all result of Lehman Bro's borrowing, rather overborrowing - with intent to damage the "shorts"- i.e., payback and reversal for their abuse for months (rather not repeat the source's name-too offensive).
Ayway basically said that Lehman orchestrated today as a opportunity to send message & to damage the "shorts" as payback (re: uptick rule).:suspicious:

I dislike rumors, especially off TV, so I apologise in advance if this sounds like total nonsence, but just wondered if any possibly for this? Suggested was that other Banks could possibly do this as well. Any thought on this, and if so (big if), what might be the effect, short-term/intermed./longer??
VR

 

[Warrenlm]

12%
I heard a dubious source basically emphasize that today's action was all result of Lehman Bro's borrowing, rather overborrowing - with intent to damage the "shorts"- i.e., payback and reversal for their abuse for months (rather not repeat the source's name-too offensive).
Ayway basically said that Lehman orchestrated today as a opportunity to send message & to damage the "shorts" as payback (re: uptick rule).:suspicious:

I dislike rumors, especially off TV, so I apologise in advance if this sounds like total nonsence, but just wondered if any possibly for this? Suggested was that other Banks could possibly do this as well. Any thought on this, and if so (big if), what might be the effect, short-term/intermed./longer??
VR

Sounds plausible to me. Market strength graphs did not go up with the price rise. The other shoe is still due. Who's got that date?

 

[12%ayear]

12%
I heard a dubious source basically emphasize that today's action was all result of Lehman Bro's borrowing, rather overborrowing - with intent to damage the "shorts"- i.e., payback and reversal for their abuse for months (rather not repeat the source's name-too offensive).
Ayway basically said that Lehman orchestrated today as a opportunity to send message & to damage the "shorts" as payback (re: uptick rule).:suspicious:

I dislike rumors, especially off TV, so I apologise in advance if this sounds like total nonsence, but just wondered if any possibly for this? Suggested was that other Banks could possibly do this as well. Any thought on this, and if so (big if), what might be the effect, short-term/intermed./longer??
VR

just my 2 cents... They just put a bandaid on the problem. Short-term, it moved the markets,that aside the problems are still there. It was a panic move to appease the markets which has short-term memory and is looking for any reason to rally. We are in a major bear rally and IMO we are in a recession. Look around ...dreadful car sales, real estate sales, retail sales,inflationary pressure, high fuel costs, and major layoffs on the way. Also look at the newspaper industry, KEY POINT HERE...nobody is buying ad space. http://www.bloggingstocks.com/2008/03/30/as-newspaper-spending-falls-some-companies-face-end/ That is saying consumers are not buying products. Another key point are food prices. Through the ceiling. I still think we are going to hit the 10000s this year.

 

[FUTURESTRADER]

The Administration is winding down the shuttle program, which means at least 1300 layoffs at the NASA Michoud facility in New Orleans. This was announced yesterday as a DEFINITE, not a maybe. A lot of those people have been there since the 1970's (lucky CSRS'ers), but a majority of them are boomers stuck in FERS within 5 years of retirement. Nasty trick being played on them eliminating their jobs at this time with no chance of recouping any TSP losses.

Lockheed Martin contract employees, no TSP for them. They probably have a nice 401K that they can transfer unhindered.

 

[FUTURESTRADER]

The Administration is winding down the shuttle program, which means at least 1300 layoffs at the NASA Michoud facility in New Orleans. This was announced yesterday as a DEFINITE, not a maybe. A lot of those people have been there since the 1970's (lucky CSRS'ers), but a majority of them are boomers stuck in FERS within 5 years of retirement. Nasty trick being played on them eliminating their jobs at this time with no chance of recouping any TSP losses.

Lockheed Martin contract employees. No TSP for them, tho probably a nice 401K.

 

[FUTURESTRADER]

The majority are contractors but there are a few NASA folks there. Hopefully they can transition to Ares/Orion programs or to SSC in some capacity.

Gov't employees don't get 'laid off', a RIF maybe but unlikely. Buy-outs, transfers or 'attrition' if anything.

 

[FUTURESTRADER]

RIF, layoff, call it what you will. It still means hard times with no income except unemployment, and when you go apply, it's a layoff.

The market (wall street) and main street are two different things, and we're seeing the separation more and more. Main Street is still hurting and Wall Street is euphoric. The Administration, the Fed, and the Treasury are more worried about their Wall Street Buddies than the Main Street taxpayers, and if they have indeed been able to manipulate the market from a bear to a bull by bailing out their buddies and throwing money at them while letting the taxpayers flounder, the economy is a long way from recovery. They haven't FIXED anything, they're just putting bandaids on a festering sore.

no RIFs (or layoffs, if you like) expected for Gov't employees. Just tryin to keep some facts straight.

 

[GUCHI]

usda nrcs in N.C. has to lose 13 people and they r doing it as we speak. people r retiring at a steady pace and those positions r being filled with in state employees thru what they call directed reassignments. and the vacated position is being incorporated into other counties. our budget has been terrible here !!! sounds like an undercover RIF to me !!!!

 

[12%ayear]

Bernanke warns of possible recession http://news.yahoo.com/s/ap/20080402/ap_on_bi_ge/bernanke_congress IMO,We are in a recession!!!!!! He didn't offer assurances of further interest rate cuts. Why?? Inflation and the US DOLLAR. Watch Fridays umemployment numbers, you will see the pain. Not trying to be negative, just telling it the way it is. Senator Specter was on the Sirius Radio promoting his new book and he said we are in a Recession. CBS Moves Ahead With Layoffs in News http://www.nytimes.com/2008/04/02/business/media/02cbs.html

 

[FUTURESTRADER]

Are you there at Michoud? Just curious, 'cause friends of mine are, as is my spouse.

No, I'm at Goddard in Maryland. Best wishes to your friends and spouse.

 

[12%ayear]

I think I rather have the ability to have 3 transfers per month than this mailing the TSP-50 crap. At least, you are able to lock a nice profit and wait. This way(TSP-50) ,it is a crapshoot. I hope it goes into affect in May.

 

[Warrenlm]

The Administration, the Fed, and the Treasury are more worried about their Wall Street Buddies than the Main Street taxpayers,

Government "decision makers" know where their private sector employment will be and it's not on main street.

 

[12%ayear]

I bet we sell-off from here. DOW +28. I see a major force coming in and destroying the longs.

 

[sdouglas3]

I bet we sell-off from here. DOW +28. I see a major force coming in and destroying the longs.

I went to the G-fund today. I see lots of resistence near term. Just from what I see on the charts and with the unemployment numbers coming tomorrow. I didn't feel good about staying in the market. Iwill look at buying back at the 50 day MA. JMO

Steve

 

[Steadygain]

I beg to differ. The supposed 8K new jobs reported today were main street jobs, not WS jobs. WS jobs are going away...they estimate at least 100K layoffs there this year due to this mess.

Ben even openly admits "RECESSION" looks likely.

Those are good observations Anidoc. It's all the more sad for those who are now ready to put everything they have back in to Markets about to take another substantial dive.

 

[12%ayear]

Ben even openly admits "RECESSION" looks likely.

Those are good observations Anidoc. It's all the more sad for those who are now ready to put everything they have back in to Markets about to take another substantial dive.

right on!!! We have not had a major pullback since 2002. Careful chasing this bogus rally.

 

[12%ayear]

Current crisis is worst since Great Depression: Soros http://www.indiainfoline.com/news/innernews.asp?storyId=63601&lmn=1 The billionaire investor says that global equity markets will fall more this year after a brief rebound and that the credit crunch is probably far from over....... My footnote>>The Fed is running out of Ammo and he cannot keep cutting. Time to face the facts and accept the facts that we are in a Recession.

 

[VirginiaBob]

Current crisis is worst since Great Depression: Soros http://www.indiainfoline.com/news/innernews.asp?storyId=63601&lmn=1 The billionaire investor says that global equity markets will fall more this year after a brief rebound and that the credit crunch is probably far from over....... My footnote>>The Fed is running out of Ammo and he cannot keep cutting. Time to face the facts and accept the facts that we are in a Recession.

I disagree on using opinion to say, "We are in a recession". I think we have to stick to facts and use the actual definitions of a recession which says we need two consecutive quarters of negative GDP. So far, we haven't had one. I know we are in bad times, but let's not let the media hype it up to a recession until it technically is one.