Show-me Account Talk

[Show-me]

Still waiting and wanting. Everyone is waiting.

Here is a good video. I can't remember who posted this guy but thank you.

 

[poolman]

Still waiting and wanting. Everyone is waiting.

Here is a good video. I can't remember who posted this guy but thank you.

Thanks Show-me,


My Hypothesis, POP Then PHIZZ..........

 

[Show-me]

Pilgrim's Pride Expects to Breach Credit Covenant (Update1)

By David Altaner and Mark Herlihy
Sept. 25 (Bloomberg) -- Pilgrim's Pride Corp., the biggest U.S. chicken producer, expects to breach one of its credit covenants because it will post a ``significant'' fourth-quarter loss.
Pilgrim's Pride will report a loss in the three months ending Sept. 27 due to higher feed costs, lower meat prices and the impact of grain hedges, the Pittsburg, Texas-based company said in a PR Newswire statement today. The company doesn't expect to comply with its ``fixed-charge ratio coverage covenant.'' Pilgrim's Pride will be in compliance with all other covenants as of the end of its fiscal year this month, it said.
The company took on debt and surpassed Tyson Foods Inc. in terms of production when it bought Atlanta-based Gold Kist Inc. for $1.1 billion in January 2007. Pilgrim's Pride, formed in 1946 when Aubrey Pilgrim and his partner Pat Johns bought a feed store for $3,500, grew to have net sales of $7.6 billion in fiscal 2007. Customers include Wal-Mart Stores Inc. and Yum! Brands Inc.'s KFC restaurant chain,

http://www.bloomberg.com/apps/news?pid=20601103&sid=aR3OZhQ.Ea4o&refer=news

Your cheap meat is about to get expensive. Got free range chicken?

 

[Show-me]

FDIC May Need $150 Billion Bailout as Local Bank Failures Mount

By David Evans
Sept. 25 (Bloomberg) -- Deborah Horn tugs on the handle of the glass-paned entrance of the IndyMac Bancorp Inc. branch in Manhattan Beach, California. The door won't budge. The weekend is approaching, and Horn, 44, the sole breadwinner in a family of three, needs cash.
A small notice taped to the window on this Friday afternoon in mid-July tells her why she's been locked out. IndyMac has failed, the single-spaced, letter-sized paper says; the bank is now in the hands of the Federal Deposit Insurance Corp.
``The Receiver is now taking possession of the Bank,'' the sign says.
``I'm physically shaking,'' says Horn, an academic tutor, as she peers into the bank. Inside, an FDIC examiner is talking to six stone-faced IndyMac employees. ``I don't know when I'm going to be able to get my money,'' Horn says. ``I'm a single mom. This is the money I live on.''
Don't worry about Horn. She'll be all right, as will most of Pasadena, California-based IndyMac's 200,000-plus customers.
That's because the FDIC, created in 1934, insures all accounts up to $100,000 at its member banks, and it has never failed to honor a claim. The people to worry about are U.S. taxpayers.
The IndyMac debacle is taking a large bite out of FDIC reserves, and if scores of other banks fail in the year ahead, the fund will be depleted. Taxpayers will have to step in.

http://www.bloomberg.com/apps/news?pid=20601103&sid=amZxIbcjZISU&refer=us

Maybe we should save our bullet to cover FDIC deposits instead of throwing good money at bad paper.

 

[Braveheart]

http://www.bloomberg.com/apps/news?pid=20601103&sid=amZxIbcjZISU&refer=us

Maybe we should save our bullet to cover FDIC deposits instead of throwing good money at bad paper.

That is 1 Bank and it cost 150 Billion does anyone think this won't cost 3 Trillion in the end. We still have FDIC Friday anyone else notice a shortage of $100 bills because there is in the Northeast East!!

 

[Show-me]

Bank run prompts $500M infusion in Hong Kong

By JEREMIAH MARQUEZ – 1 hour ago
HONG KONG (AP) — Hundreds of nervous customers swarmed Bank of East Asia offices in Singapore and Hong Kong Thursday, the second day of Asia's first major bank run since the global financial crisis erupted last year.
Hong Kong's de facto central bank, meanwhile, responded by injecting $500 million into the market as a way of shoring up the territory's banking system.
The Bank of East Asia received another boost when billionaire tycoon Li Ka-shing started buying the company's stock after it plunged Wednesday — a huge vote of confidence from the territory's richest man. Shares rebounded Thursday.
The moves came after thousands of customers descended on BEA offices across Hong Kong on Wednesday to demand their deposits amid unconfirmed rumors questioning the mid-sized lender's stability.
The bank and authorities were quick to shoot down the rumors — spread by what officials say were hundreds of thousands of cell phone text messages in recent days — as "malicious" and baseless.
But many customers were less than assured. While crowds appeared to taper off in Hong Kong Thursday, hundreds thronged the company's headquarters in Singapore's financial district to inquire about the status of the bank or to withdraw their savings.
"I read about the bank's problems in Hong Kong, so I came down here today to pull out some of my money," said Kim Hoon Toh, 70, as he waited in the bank's lobby for his number to be called. "Better safe than sorry."

http://ap.google.com/article/ALeqM5jLsUaFP5eQLe6vc9PUDlCJVQ48PAD93DMAK00

 

[Birchtree]

Just more irrational financial panic...I'm buying today.

 

[ATCJeff]

Just more irrational financial panic...I'm buying today.

when are you not buying?

Start buying all the 5% yield stocks. There are plenty out there right now. GE being one. It's due for a huge run as soon as we put in the bottom.

 

[HedgeHog]

Not a bad idea to contact the man who hired Mr. Paulsen who is at the desk with the sign, "the buck stops here". The sign is no doubt gone now and there is probably some other witty saying there.

To leave an e-mail for our leader just write: comments@whitehouse.gov

 

[love-to-bike]

 

[Silverbird]

Incoming!

 

[hessian]

Where'd I read on the MB, that the deal will be a real boon, and taxpayers will benefit? Someone even looking to buy these deals? Hmmm, what did you say the price was again? :blink:
View attachment 4745

 

[hessian]

Show-Me,
You seemed to like "Mr. Market Ticker:"


Also, with this came: Weiss Research is the latest with a 24-page white paper:
"I. Too Little, Too Late to End the Debt Crisis. Congress should

1. Disregard data based on the list of troubled banks maintained by the Federal Deposit Insurance Corporation (FDIC). The FDIC’s list currently has 117 institutions with $78 billion in assets. However, based on a broader analysis of recent FDIC call report data, we find that institutions at risk of failure include 1,479 FDIC member banks and 158 thrifts with total assets of $3.6 trillion, or 36 times the assets of banks on the FDIC’s list.​

2. Think twice before providing a broad bailout for U.S. debts given the wide diversity of mortgage holders and the great magnitude of the total debts outstanding in the United States. Just-released Federal Reserve Flow of Funds data show that, beyond mortgages, there are another $20.4 trillion in private sector consumer and corporate debts, plus $2.7 trillion in municipal securities outstanding."​

​

Yep. Read the rest. Its sobering. We NEED that $700 billion to shore up the FDIC! We cannot afford using it to bail out the fat cat Wall Street folks, who will NOT recycle that money into the broader economy - they will simply use it to avoid THEIR failures in a dozen or so firms, while leaving more than 1,000 banks - your bank - to die on the vine.

The non-partisan CBO is also deeply concerned:

"Ironically, the intervention could even trigger additional failures of large institutions, because some institutions may be carrying troubled assets on their books at inflated values," Orszag said in his testimony. "Establishing clearer prices might reveal those institutions to be insolvent."​

In other words, doing this is likely to make the problem worse.

Finally, there is a huge list of economists (over 150!) who are also opposed

"....For these reasons we ask Congress not to rush, to hold appropriate hearings, and to carefully consider the right course of action, and to wisely determine the future of the financial industry and the U.S. economy for years to come."​

Is that enough "learned opinion" to convince you that this is a really, really bad idea?
​

Oh, and China is once again making threats:
"China, Japan, South Korea and others should meet soon to seal a deal, said Yu, a former academic member of the central bank's monetary policy committee. The talks should involve finance ministers, central bank governors and even national leaders, he said."

 

[Show-me]

Not looking good for the good old USA. Funny thing is I was on bankrate.com looking at a 1 year CD from WaMu for 5% today. Maybe not such a good idea now.

 

[Christopher]

Hmmm...seems to me that this time bomb may have it's roots in the Clinton/Greenspan ~decade if my memory serves me correctly?

Most of our family's savings are in two internet banks that provide high yields, compared with even the two credit unions of which we are members - and both of these internet banks are listed on the Final-Bailout-White-Paper document that Hessian linked. Uh oh! Time to un-circle the wagons and head for Dodge, cash in hand? :worried:

 

[airlift]

Show-me posted this interesting link some days ago. Perhaps you missed it. Re: Timeline of events.

http://en.wikipedia.org/wiki/Timeline_of_the_United_States_housing_bubble

Hmmm...seems to me that this time bomb may have it's roots in the Clinton/Greenspan ~decade if my memory serves me correctly?

Most of our family's savings are in two internet banks that provide high yields, compared with even the two credit unions of which we are members - and both of these internet banks are listed on the Final-Bailout-White-Paper document that Hessian linked. Uh oh! Time to un-circle the wagons and head for Dodge, cash in hand? :worried:

 

[Show-me]

Oscar does not advocate going long or long over the weekend, but if you have a little gambler blood in ya, long S&P because the bail out package is coming and should produce a pop.

 

[Show-me]

Late night dirty Karl.

 

[Show-me]

Don Harrold

 

[Show-me]

Looking to buy some SSO premarket for a intra day in/out trade. I will use my Roth a likely move in increments.