It's actually good to see a nice bounce. Even though the Auto Bailout was a bit of a confusing pathetic exercise in money grubbing, Obama got the ball moving his his treasury appointment on Friday & the more money out of thing air coming from the "Bailout Funds" going towards Citigroup.
The breakout of the Long term Support was a "Fakeout" for the time being. Just for future reference if we break though and close for a long time below 7,591, then it's lights out Not the 7,842 which was the low from the "Asian Financial Crisis" in 1998.
All I can say is that I will be glad to take a break from Armageddon for a while. Although I have to stress "Happy Days are not Here Again"
On another note, I'm happy that U.B. has clinched their first bowl game in 50 years! I'd never thought I'd see the day that U.B. was playing in a Bowl Game. Plus, they're the most successful sporting team in the city if you really want to get technical about it.
Vincent's Journal
My Podcast Link
11/25/2008 00:08 #46826
Dow WowCategory: finance
11/20/2008 16:30 #46776
support failCategory: fiinance
Pack it in; If you're owning stocks you better be on the 2028 plan. Meaning that if you are thinking of getting your money back until the year 2028!!!
Officially the stock market is screwed for a long, long time.
Get out now before you lose everything....This is an economic collapse, just like the Pan-Asian countries had in 1998 the year that we were last at these levels.
Officially the stock market is screwed for a long, long time.
Get out now before you lose everything....This is an economic collapse, just like the Pan-Asian countries had in 1998 the year that we were last at these levels.
11/20/2008 13:02 #46772
Auto Rescue Plan ReachedCategory: finance
So they did slip a "bailout" for the U.S. Car makers into an energy Bill 
To me this is just going to delay the day of reckoning. What they are going to give them still won't make them whole. If you consider their outstanding debt and Pension liabilities this may make the company only say - 35 Billion in the hole instead of -60 Billion. Consider the Market Cap of GM and Ford was 6.14 Billion on 11/17/2008. In the end this is just good money after bad. They are not going to help change the wage structure that puts them at a disadvantage to Honda and Toyota or change people's buying habits. In the end the only way the will keep the current GM Structure of workers making $75 an hour if you include their benefits is to nationalize the companies.
To me this is just going to delay the day of reckoning. What they are going to give them still won't make them whole. If you consider their outstanding debt and Pension liabilities this may make the company only say - 35 Billion in the hole instead of -60 Billion. Consider the Market Cap of GM and Ford was 6.14 Billion on 11/17/2008. In the end this is just good money after bad. They are not going to help change the wage structure that puts them at a disadvantage to Honda and Toyota or change people's buying habits. In the end the only way the will keep the current GM Structure of workers making $75 an hour if you include their benefits is to nationalize the companies.
metalpeter - 11/20/08 19:08
You make a good point. I don't know what ones. I do know that in an Add one of Toyota's trucks or maybe all of them are made here I think in Ind. but not sure. I think what these companies don't understand is that they are part of the Global Economy and so is the labor force. What I mean is that is that conditions are different in Japan and Germany then here so that has an effect on how cars are made. I have heard that the ironic things is that in I think it is China the #1 Selling car is ford.
You make a good point. I don't know what ones. I do know that in an Add one of Toyota's trucks or maybe all of them are made here I think in Ind. but not sure. I think what these companies don't understand is that they are part of the Global Economy and so is the labor force. What I mean is that is that conditions are different in Japan and Germany then here so that has an effect on how cars are made. I have heard that the ironic things is that in I think it is China the #1 Selling car is ford.
vincent - 11/20/08 18:48
The ironic part about what you said Peter is that those companies do build cars people want to buy right here on U.S. Soil. Yea, the plants are in those "Red" States like Alabama, South Carolina and Texas which are for the majority Non-Union.
The ironic part about what you said Peter is that those companies do build cars people want to buy right here on U.S. Soil. Yea, the plants are in those "Red" States like Alabama, South Carolina and Texas which are for the majority Non-Union.
metalpeter - 11/20/08 18:42
The thing is that a college education says a lot about a person, more then High School does. it isn't true for everyone but it shows certain things. First thing that comes to mind is that if you live on campus or not with your parents that you are responsible enough to go to class on your own and pay rent, and that means you will show up at work. It also shows a certain level of being able to learn stuff and retain information. With four years schools it shows you are dedicated. If I did hiring I could tell a bunch of other things that it can tell. It is often a help in getting a job.
The Auto insudstry is in trouble because both the workers and the big wig ass holes who fly on Private Jets are both greedy. The bottom line is that that other countries and companies can make cars cheeper and better, so Americans buy them. The thing about the Japanase is that they aren't good at inventing things, we made "The Bomb" first (then blew them up) an American Made the VCR but couldn't figure out what to do with it. The Japanese are good at making things better and changing them. Hence why they make better cars then we do and most of the Hybrid stuff is their's. If An American Car company figured out how to Make a cheeper, Clear fuel and made their cars run on it then they wouldn't be in bad shape. We shall go with say Pure Alcohol. Ford would grow all the Wheat in a 40 story building then own farm land. You own a ford you go to any place that sells ford Cars and Fill up then they sell that at a profit to say gas stations or what ever. The problem is that when you are Rich you don't think "out side the box" so there is no inovation when you are lined up with the gas companies and so is the government.
The thing is that a college education says a lot about a person, more then High School does. it isn't true for everyone but it shows certain things. First thing that comes to mind is that if you live on campus or not with your parents that you are responsible enough to go to class on your own and pay rent, and that means you will show up at work. It also shows a certain level of being able to learn stuff and retain information. With four years schools it shows you are dedicated. If I did hiring I could tell a bunch of other things that it can tell. It is often a help in getting a job.
The Auto insudstry is in trouble because both the workers and the big wig ass holes who fly on Private Jets are both greedy. The bottom line is that that other countries and companies can make cars cheeper and better, so Americans buy them. The thing about the Japanase is that they aren't good at inventing things, we made "The Bomb" first (then blew them up) an American Made the VCR but couldn't figure out what to do with it. The Japanese are good at making things better and changing them. Hence why they make better cars then we do and most of the Hybrid stuff is their's. If An American Car company figured out how to Make a cheeper, Clear fuel and made their cars run on it then they wouldn't be in bad shape. We shall go with say Pure Alcohol. Ford would grow all the Wheat in a 40 story building then own farm land. You own a ford you go to any place that sells ford Cars and Fill up then they sell that at a profit to say gas stations or what ever. The problem is that when you are Rich you don't think "out side the box" so there is no inovation when you are lined up with the gas companies and so is the government.
james - 11/20/08 15:02
I have heard this argument before and I have to wonder why we always blame the workers? As if the overall business model of the company was flawless and would succeed were it not for those parasite workers. Yes, the union should accept that the industry is such that it can no longer support workers wage and benefits entirely. But that is not what is driving the company into the ground.
And Jenks, a college education is entirely useless for most jobs. It is sad that secretaries now need an associates degree. It is sad that seas of douche bags are in MBA programs just so they can do a job that requires only basic communications skills.
Speaking of douche bags. Did you hear about CEO's of the crumbling auto industry flying to DC to beg for bailout money... in a private jet. :::link:::
$75/hr is nice. Such arrogance.
I have heard this argument before and I have to wonder why we always blame the workers? As if the overall business model of the company was flawless and would succeed were it not for those parasite workers. Yes, the union should accept that the industry is such that it can no longer support workers wage and benefits entirely. But that is not what is driving the company into the ground.
And Jenks, a college education is entirely useless for most jobs. It is sad that secretaries now need an associates degree. It is sad that seas of douche bags are in MBA programs just so they can do a job that requires only basic communications skills.
Speaking of douche bags. Did you hear about CEO's of the crumbling auto industry flying to DC to beg for bailout money... in a private jet. :::link:::
$75/hr is nice. Such arrogance.
jenks - 11/20/08 14:09
jesus. maybe it's time for people with no more than a high school education to accept that maybe they can't make $75/hour anymore.
I am really not very sympathetic to this cause at all.
jesus. maybe it's time for people with no more than a high school education to accept that maybe they can't make $75/hour anymore.
I am really not very sympathetic to this cause at all.
11/20/2008 11:51 #46769
Must HoldCategory: finance
The market has been testing the 10 year low of the Dow Jones level 7883 made during the Asian Financial Crisis of 1998. If it breaks through and closes below that number, you better me on the 2033 Stock Market Plan or aka not thinking of getting ahead until the year 2033. So in simpler terms it will be Game Over.
It's not like I think that it will hold and then we will be off to "happy days again," but for the most part it will just delay the inevitable. Just like the Big 3 American Automakers. From what I can see the economy is going to tank into oblivion come February. We will have the numbers from the Holiday Season and it will just reflect that people just bought gifts for lineal family members only. We will have more abandoned shopping plazas (But in Western New York Benderson will still be building more even though there will be guys hired through Addeco or Apple One smoking and carrying a florescent "GOING OUT OF BUSINESS 40% OFF EVERYTHING" Sandwich Signs outside on the sidewalk of the current plaza that the built 2 years before and is only 30% occupied) ;-) Since we are a country that is fuel by expansive credit and consumption it will get nasty.
But who knows? When the big box/strip mall retailer's business plan blows up, that may create a return to Main St where people just go and start dealing locally with a "Mom & Pop" type of store once again.
It's not like I think that it will hold and then we will be off to "happy days again," but for the most part it will just delay the inevitable. Just like the Big 3 American Automakers. From what I can see the economy is going to tank into oblivion come February. We will have the numbers from the Holiday Season and it will just reflect that people just bought gifts for lineal family members only. We will have more abandoned shopping plazas (But in Western New York Benderson will still be building more even though there will be guys hired through Addeco or Apple One smoking and carrying a florescent "GOING OUT OF BUSINESS 40% OFF EVERYTHING" Sandwich Signs outside on the sidewalk of the current plaza that the built 2 years before and is only 30% occupied) ;-) Since we are a country that is fuel by expansive credit and consumption it will get nasty.
But who knows? When the big box/strip mall retailer's business plan blows up, that may create a return to Main St where people just go and start dealing locally with a "Mom & Pop" type of store once again.
11/18/2008 23:46 #46748
Paris Hiltons New BBFCategory: television
Funny how that now MTV totally killed off music they suck me in the a reality show. That old 60 something year old guy that runs the network really knows how to push my buttons.
I have to admit she's one of my guilty pleasures. It could be that seeing her on that couch kind of reminds me of one of my favorite movies Cruel Intentions but I know it's by design. In the end she isn't as stupid as most people think or at least that's what I believe.
SO Yea, that's my latest guilty pleasure in TV Viewing.
Although I did redeem my brain in regards to the MTV Networks by catching this song for the first time on MTV2. All I can say is that I have totally felt that and been there. It's kind of a mix between the Afghan Whigs and Bahaus. I'm glad that the artist or record company actually is allowing embedding.
they suck me in the a reality show. That old 60 something year old guy that runs the network really knows how to push my buttons. I have to admit she's one of my guilty pleasures. It could be that seeing her on that couch kind of reminds me of one of my favorite movies Cruel Intentions
but I know it's by design. In the end she isn't as stupid as most people think or at least that's what I believe. SO Yea, that's my latest guilty pleasure in TV Viewing.
Although I did redeem my brain in regards to the MTV Networks by catching this song for the first time on MTV2. All I can say is that I have totally felt that and been there. It's kind of a mix between the Afghan Whigs and Bahaus. I'm glad that the artist or record company actually is allowing embedding.
I feel bad for people who want to retire. This sucks.
Peter, If anyone had stocks that were purchased over 11 years ago and did not sell them by now they're screwed. The trillions of dollars that were accumulated over the last decade are gone. They are not coming back anytime soon. Look at GE a great "Orphan and Widow" Stock, it hasn't been this low since 1996! Seriously do you remember what you were doing back in 1996? Well your GE stock would be back to where it was + dividends.
This should be the sign for those of you who have some cash hidden away that as people start to sell there stocks find some companies you think might have a huge up swing and buy stocks in those and make lots of money maybe in the future.