Global Economy Bursting?

[Austin]

I don't think most people understand the significance of banks. They are not what most people think they are. I remember back when I was in college majoring in economics we read the economic history of the united states. There was a big debate in the beginning of this country about national and state banks. I wondered what the hell banking had to do with the founding of the country?
Well, the answer is that banks are a source of political power for the wealthy just like the franking jobs are to the working class. To get working class votes you have to promise them jobs like carrying the mail. The more jobs you pass out the more political power. Same with banking-the banks can control who borrows the money and the people who support the regime are the ones who get the loans. Especially when they don;t qualify for them. That is why Democrats are so nice to bankers. It is all about politics. Same with the media. In the beginning of the country every elected senator or president brought his own editor with him and they had their own newspaper to spout their line. That is why the Dems won't let the banks fail because if the banks fail they fail and why the media live the Dems. They are the Dems. Bought and paid for.

 

[Workbox]

I don't think most people understand the significance of banks. They are not what most people think they are. I remember back when I was in college majoring in economics we read the economic history of the united states. There was a big debate in the beginning of this country about national and state banks. I wondered what the hell banking had to do with the founding of the country?
Well, the answer is that banks are a source of political power for the wealthy just like the franking jobs are to the working class. To get working class votes you have to promise them jobs like carrying the mail. The more jobs you pass out the more political power. Same with banking-the banks can control who borrows the money and the people who support the regime are the ones who get the loans. Especially when they don;t qualify for them. That is why Democrats are so nice to bankers. It is all about politics. Same with the media. In the beginning of the country every elected senator or president brought his own editor with him and they had their own newspaper to spout their line. That is why the Dems won't let the banks fail because if the banks fail they fail and why the media live the Dems. They are the Dems. Bought and paid for.

I remember those history lessons also and also read how Andrew Jackson also told the Banks to shove it and then they tried to kill him. At this point in our economic situation I can not blame one party, but both parties for letting us down and not sending one single "to big to fail" CEO to go to jail.

When it does hit the fan, I really do not care who's fault it is, all I know is that both parties share the blame.

To add again, I think they will try to rally this market again, and once we hit the 200 day moving average on the SPX, it is down hill from there. Get ready folks.

 

[Terrel L. Shields]

think they will try to rally this market again, and once we hit the 200 day moving average on the SPX, it is down hill from there. Get ready folks.

Halloween is 2 months off...quit scaring me.

 

[Randolph Kinney]

 

[Austin]

Question for someone from California?
Back in the spring the news was that Gov Brown wanted to increase taxes but had to put it before the voters in June. Question: What happened in June. The news out of CA has been silent for the last few months. What is going on? How are they paying their bills?

 

[DTB]

To add again, I think they will try to rally this market again, and once we hit the 200 day moving average on the SPX, it is down hill from there. Get ready folks.

My research indicates program selling will kick in at Tuesday's open. I will be leaning short on Tuesday.

Be careful.

 

[Workbox]

My research indicates program selling will kick in at Tuesday's open. I will be leaning short on Tuesday.

Be careful.

It may open low, but it will depend on what kind of news there might be over the Labor Day weekend. We should have gone down Friday at least 500 point due to the jobs numbers, but were only half. It was held for a reason. Just trends that you begin to notice. But I could be wrong, it is all about anticipation based on ones experience and trading skills.

But thank you for the update. I will start small with a trailing stop and see where we go from there.

Dividend investors: Fatter payday on way


http://www.marketwatch.com/story/dividend-investors-fatter-payday-on-way-2011-09-02

 

[Randolph Kinney]

Question for someone from California?
Back in the spring the news was that Gov Brown wanted to increase taxes but had to put it before the voters in June. Question: What happened in June. The news out of CA has been silent for the last few months. What is going on? How are they paying their bills?

Governor Brown never got a 2/3 majority to raise taxes. His threat was to take it to the voters with a referendum but nothing has come of it. There has been revenue shortfalls from projections already. The phony budget had triggers in it where additional cuts would be made.

Here's the latest:

Notices begin process of eliminating California government jobs

Read more: http://www.sacbee.com/2011/09/04/3883922/notices-begin-process-of-eliminating.html#ixzz1WzcZxlnY


Budget cuts trigger early end to solar energy credits

http://articles.cnn.com/2011-08-30/...tallations-state-rebate-solar-energy?_s=PM:US


The elderly are already taking a hit

http://www.sacbee.com/2011/09/02/3881201/the-elderly-are-already-taking.html


State colleges, universities may need to make more budget cuts

http://articles.latimes.com/2011/aug/22/local/la-me-colleges-20110823


China Benefits as U.S. Solar Industry Withers

http://www.nytimes.com/2011/09/02/b...n-for-china.html?nl=todaysheadlines&emc=tha25

HONG KONG — The bankruptcies of three American solar power companies in the last month, including Solyndra of California on Wednesday, have left China’s industry with a dominant sales position — almost three-fifths of the world’s production capacity — and rapidly declining costs.


Solyndra Filing a Disaster for Obama

http://www.nbcbayarea.com/news/local/Solyndra-Filing-a-Disaster-for-Obama-128816968.html


California on the Brink

http://www.thedailybeast.com/newswe...-net-bring-california-to-the-boiling-poi.html

The Golden State has become a wasteland of unemployment and budget deficits. Now legislators are cutting holes in what’s left of the safety net. Toni Sevchuck knows that budgeting is about making tough choices: taxes vs. cuts, parks vs. prisons, health care vs. schools.


California tax revenue plummets in July, raising fear of trigger cuts

http://articles.latimes.com/2011/aug/10/local/la-me-state-budget-20110810

July income was $539 million lower than expected, leading many to doubt the state budget's assumption of economic recovery and a $4-billion windfall. If revenues remain low, drastic education cuts will kick in.

 

[Randolph Kinney]

California tax talks await decisions by Gov. Jerry Brown

Read more: http://www.sacbee.com/2011/08/29/3868487/california-tax-talks-await-decisions.html#ixzz1WziSxS2q

Monday, Aug. 29, 2011

When he abandoned his tax plan this summer to make a budget deal, Gov. Jerry Brown suggested he'd try again to raise revenue with a ballot measure in November 2012.

But two months later, Brown and the labor unions that could fund such an effort are stuck in preliminary, disjointed talks, discouraged by internal polls and undecided about which taxes to pursue. Labor officials, saying time is short to prepare for a campaign, are becoming increasingly anxious.

The challenge for Brown is to propose tax increases that are both relatively popular and unlikely to attract opposition from well-funded business groups.



California lawmakers want a business friendly image to attract jobs

Efforts Aimed At Keeping Businesses, Jobs In California

Read more: http://www.kcra.com/news/29052131/detail.html#ixzz1Wzkot09S

 

[Randolph Kinney]

Obama's Solyndra Problem - Crony Capitalism

http://www.theatlanticwire.com/politics/2011/09/extent-obamas-solyndra-problem/42077/

Solyndra's connections to Obama - Back in May, ABC News reported that the Obama administration had "bypassed procedural steps meant to protect taxpayers as it hurried to approve an energy loan guarantee to a politically-connected California solar power startup."