Alstrynomics TRUE facts
January 22, 2009
– Comments (5)
Capital One(from CRisk):
The change in outlook is primarily the result of declining balances and adverse credit performance of closed-end, unsecured loans that are included in the U.S. Card subsegment. Auto Finance delinquencies and charge-off rates increased in the quarter as a result of seasonality, economic worsening, declining loan balances, and the impact of sharply falling used car auction prices.
S&P cuts Capital One's rating outlook to negative
Synovus(from CRisk):
“As the economy continued to deteriorate in the fourth quarter, credit quality in the residential construction and development portfolios, especially in Atlanta, continued to weaken,” said Richard Anthony, Chairman and CEO.
Digg to cut 10% of staff
Toyota reportedly considering 1,000 job cuts
Employers cut 533K jobs in Nov., most in 34 years
GM to lay off 2,000 more workers at 3 factories
Late mortgage payments and foreclosures hit record
Finally.....a more realistic perspective on the reported jobs numbers. I tell you....if you don't understand Alstrynomics.....you are living in fantasyland....
NEW YORK TIMES
The jobs report doesn't account for the 637,000 people who dropped out of the labor force.
How bad was today’s jobs report? The unemployment rate rose to 6.7 percent, its highest level since 1993 — and that understated the weakness in the labor market.
According to the Labor Department, the number of unemployed workers rose by 251,000 in November. But the number of people who were outside of the labor force — that is, neither working nor looking for work — rose by much more: 637,000. These people aren’t counted as unemployed in the government’s statistics, because they are not looking for work. Many of them, presumably, have stopped looking for work because they didn’t think they could find a good job.
Does this Times piece sound familiar to regular readers of this blog??? NOW APPLY THE NOVEMBER NUMBERS TO MONTH AFTER MONTH AFTER MONTH.......As I told you...you should not be surprised when the unemployment rate hits 30% or higher. Why do you think Obama is preparing America for volunteer service???.....maybe becuase there will be limited work for pay????
Again, Alstrynomics focuses on providing the truth based on facts....not fantasy or fiction.....and then taking those facts and extrapolating them to reasonable conclusions. With relatively few picks and a relatively short tenure on CAPs.....do you think its an accident that the application of Alstrynomics has resulted in one of the highest scores on CAPs?
You can be a Fool who knows the facts and how to apply them.....or you can just be a Fool.
I hope you have prepared for what is coming......may the ratings be with you.....
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