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alstry (35.71)

Are you ready PARTY for 9.09?

Recs

27

August 27, 2009 – Comments (20)

No not doom and gloom.....party time Alstrybater style.....let's all cheer for the following as the we ignore the demise of our nation.

Newspapers' financial woes worsened in the second quarter as advertising sales shrank by 29 percent, leaving publishers with $2.8 billion less revenue than they had at the same time last year.

It's the deepest downturn yet during a three-year free fall in advertising revenue -- newspapers' main source of income. The magnitude of the industry's advertising losses have intensified in each of the last 12 quarters.

Even newspapers' Internet advertising suffered in the second quarter. The industry's online ad revenue totaled $653 million, a 16 percent drop from last year.

http://finance.yahoo.com/news/Newspaper-slump-deepens-as-2Q-apf-2724721970.html?x=0&.v=6

It's OK.......who needs advertising.....we are a service based economy.

The US banking system will lose some 1,000 institutions over the next two years, said John Kanas, whose private equity firm bought BankUnited of Florida in May.

http://www.cnbc.com/id/32581463

YIPEEEEE....Bove and Whitney only thought it would be 200 or 300.....this will really help get rid of some of the dead weight.

The real US unemployment rate is 16 percent if persons who have dropped out of the labor pool and those working less than they would like are counted, a Federal Reserve official said Wednesday.

http://www.breitbart.com/article.php?id=CNG.4452bed82adf3124e5884678e236d7fb.361&show_article=1

FANTASTIC......and I was thinking it was under 10% this whole time.

At a town hall meeting Wednesday Sen. Jim Inhofe told Chickasha residents......"People are not buying these concepts that are completely foreign to America," Inhofe said. "We're almost reaching a revolution in this country."

http://www.chickashanews.com/local/local_story_239102559.html/

REVOLUTION?....that must be partying Alstrybater style.

Aug. 28 (Bloomberg) -- Toyota Motor Corp. will shut an assembly plant for the first time in its 72-year history after the failure of a joint venture with General Motors Corp.

http://www.bloomberg.com/apps/news?pid=20601087&sid=ai.wuUWYZgxk

72 years and over 4500 employees!!!!  We must be hitting bottom now....GM didn't go bankrupt in over 80......things sure looking up for the second half.....unless you are one of those 4500 or millions of others getting fired....but who cares if it is not me.

Come on guys....it is a jobless recovery in the second half.......and a failing bank recovery....you know, why do banks need to make any money in an economy based on leverage?......after all, just because we don't manufacture much anymore...even more so after the Toyota plant shuts down....it doesn't mean we can't be happy and pretend....pretending is fun....and Obama will send us all the checks we need.

THE CHINESE WILL PULL US OUT OF THIS....RELAX DON'T WORRY!!!!

Aug. 28 (Bloomberg) -- China Cosco Holdings Co., Asia’s biggest shipping company by market value, may cancel container- vessel orders after posting a second straight loss on slumping world trade.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aD4eftPZbJBY

WELL...MAYBE THE JAPANESE?

Japan's Jobless Rate Climbs to Record 5.7% in Blow to Aso on Election Eve

IT IS SO GREAT TO BE A BULL....THINGS ARE LOOKING SO GOOD FOR THE SECOND HALF....MAYBE I CAN GET OUT FROM UNDER ALL THIS DEBT BY DUMPING MY HOUSE?

Californians who lose their homes in a foreclosure, short-sale or deed in lieu of foreclosure this year could be hit with a state income tax on canceled or forgiven debt.

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/08/25/BUBM19D2P7.DTL&type=printable

Maybe I can pay it off with a job from the state to pay off the tax from losing so much money on my house?

The National Conference of State Legislatures has released a new report on state budgets that shows that half of the states are projecting a cumulative shortfall of $142.6 billion for fiscal year 2010.

That's a gap the conference said will likely to "grow during the course of the fiscal year."

http://www.sacbee.com/static/weblogs/the_state_worker/

Whooops...too bad Toyota isn't hiring....but you know, things are looking up for the second half of the year......it is so great to be an Alstrybater.

20 Comments – Post Your Own

#1) On August 28, 2009 at 12:03 AM, RonChapmanJr (98.18) wrote:

Good post.  You do have a lot of time on your hands.  :)

The amazing thing is that some CAPSters will read this post and continue thinking their bullish thoughts.  If people aren't awake by now, it might be best to just let them sleep...

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#2) On August 28, 2009 at 12:04 AM, alstry (35.71) wrote:

WATCH WHAT HAPPENS WHEN CAPITAL FLIES OUT OF AMERICA....YOU HAVE BEEN WARNED IT IS PARTY TIME!!!!!!

Wegelin bank to pull out of US

Swiss private bank Wegelin announced on Tuesday that it is to stop doing business in the United States.

The St Gallen-based bank, Switzerland's oldest, said the decision had been taken in response to stricter measures introduced in the US against tax dodgers and planned changes to estate tax, which would make some non-US citizens liable to tax if they inherited US securities.

In a letter to investors it said Swiss banks were likely to find themselves in an untenable position, as they would be expected to know which clients were liable to pay US tax – "an impossible undertaking", given the lack of clear definitions in the matter.

The danger of inadvertently making false declarations to the US tax authorities will be too great, it explained.

It added that it believes the US overestimates its attraction as a financial centre, and is advising its clients to get out of all US securities.

http://www.swissinfo.ch/eng/business/Wegelin_bank_to_pull_out_of_US.html?siteSect=164&sid=11125453&cKey=1251233629000&ty=nd

Yippppeeee....Party Time.

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#3) On August 28, 2009 at 12:07 AM, awallejr (79.94) wrote:

9.21.09 fast approaches.  Alstry's DOW 5,000 or less by end of summer moving further and further away.

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#4) On August 28, 2009 at 12:08 AM, checklist34 (99.80) wrote:

9/09 will indeed soon come.

I have a nice car or 5.  

I have a black swan in my lap and we'll see how that ends.

I hate flaky girls.  

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#5) On August 28, 2009 at 12:09 AM, Seano67 (41.90) wrote:

I'm ready to PARTAY, Alstry! Let's RAWK! ***shakes head violently while holding Bic in the air***

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#6) On August 28, 2009 at 12:27 AM, checklist34 (99.80) wrote:

i still like pie.  FWIW

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#7) On August 28, 2009 at 12:29 AM, Deepfryer (28.16) wrote:

Alstry, you almost made some decent points for the bearish side of things, but then you had to go and post that Chickashanews link. That article just makes bears look stupid, lazy, and uninformed. "Revolution"? From a senator too lazy to read the healthcare bill, who makes up his mind on the issue despite having no clue what he's even talking about?

Revoltion, by people who are trying to turn a health care debate into a 2nd amendment debate for no apparent reason?

"REVOLUTION?....that must be partying Alstrybater style."

Revolution? Led by a guy who is upset over the closing of Gitmo? Led by a guy who complains about democrat spending... but apparently is ok with republican spending?

It's nice that you took the time to dig up all these links... but if you're going to use them as support for your side of the debate, then you should at least look them over and make sure they are worthwhile. You really want to use quotes from the crackpot residents of some place called Chickasha?

You can do better than this.

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#8) On August 28, 2009 at 12:38 AM, QwertyHero (< 20) wrote:

I hope the economy takes another dump so I can get in on the ground floor and make some serious dinero.

Know what I mean? 

 

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#9) On August 28, 2009 at 1:10 AM, caterpillar10 wrote:

might as well crack another cold one then - nite y'all

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#10) On August 28, 2009 at 1:30 AM, aqua2 (< 20) wrote:

Oh man, oh man, oh man

The comment about Wegelin Bank gives me reason for concern. They are ultra conservative so not so surprised that they are recommending getting out of US Securities, really not sure why anyone would want them.  Just hope other banks don't follow suit.  I do like their business model, would be nice to see Wall Street or what's left of it do something similar.  Of course too late now.

"Unlimited liability partnerships like Wegelin are gaining market share from the bigger wealth managers as many clients feel their money is safer with them as the management will feel the pain just as much as their clients would in any financial downturn," said Derobert.

Wegelin has eight managing partners, all signed up to take full responsibility for any downturn in the bank's fortunes.

http://www.wealth-bulletin.com/home/content/2350376289/ 

Luv the sarcasm baby.  Party on! 

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#11) On August 28, 2009 at 5:44 AM, jesusfreakinco (29.59) wrote:

Al,

One of my favorite posts.  Rock on!

JFC

 

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#12) On August 28, 2009 at 5:47 AM, oshiri (< 20) wrote:

Howdy Sempai Al . . .

     Just a note before flying back to the USA.

     It is amazing to find that even in backwater small towns of China, they know Benny is, um, S T R E T C H I N G the truth. Our Commander-in-Chief is also referred to quite openly as "inexperienced." Anyway . . . 

     Everything is still very go-go here. Markets were full, shoppers swarming over shops, construction everywhere, and the punters in Macau were laying the coin heavy.

     With my dry run done, I see the next step as more RMB currency speculation, and more precious metal.

     Props and Recs to you . . .

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#13) On August 28, 2009 at 7:28 AM, alstry (35.71) wrote:

This could be the first jobsless, revenueless, profitless, growthless, salesless, taxreceiptless, recovery ever.

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#14) On August 28, 2009 at 7:39 AM, alstry (35.71) wrote:

LESS IS MORE AT DELL

The Round Rock, Texas-based company reported Thursday that profit fell 23 percent and sales fell 22 percent in the May-July period. The results beat Wall Street's forecasts, however, sending the shares up more than 6 percent.

WHY SELL WHEN YOU GAME EARNINGS

NEW YORK (MarketWatch) -- Luxury jewelry retailer Tiffany & Co. said Friday that its second-quarter profit fell to $56.8 million, or 46 cents a share, from $80.8 million, or 63 cents, a year earlier. The latest quarter's results included a 7-cent gain related to a loan recovery and tax-reserve adjustments, the company said. Sales in the quarter ended July 31 dropped 16% to $612.5 million.

MOST COMPANIES SALES ARE DOWN 15-25% OR MORE, SAME WITH EXPORTS AND TRUCKING, YET GDP DOWN ONLY 1%???

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#15) On August 28, 2009 at 10:06 AM, SolarisKing (< 20) wrote:

#13) On August 28, 2009 at 7:28 AM, alstry (99.37) wrote:

This could be the first jobsless, revenueless, profitless, growthless, salesless, taxreceiptless, recovery ever.

 

 

that quote should be famous.

-solaris

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#16) On August 28, 2009 at 10:45 AM, OneLegged (< 20) wrote:

GDP is down 1% and consumer spending (you know 70% of the U.S. economy?) is down 0.7%.  HONEST!

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#17) On August 28, 2009 at 11:24 AM, jason2713 (< 20) wrote:

Can I add to the party?

Whirlpool to cut 1,100 jobs, shut plant in Indiana  
Shocker, more unemployment, what's going to happen when the gov't starts slash, slash SLASHING jobs!  I feel like an info mercial!   BUT WAIT! If you call now, we'll double your unemployment, don't wait call now!!!

Consumer spending lifted by Cash for Clunkers
Economy on life support, gov't adding the juice to keep it ticking

Consumer spending edges up in July, incomes flat
So we're spending more, but making less. Ohhh, cash for clunkers...riiiiight!  so let me get this straight, people are spending more, but making the same (or less).  How many of these cash for clunkers are going to be repo'd you think?  Oh and the rebates will be taxed by uncle same, so you got $4500 in rebates, expect to be taxed 40% on that $4500...GOOD JOB UNCLE SAM!

Dell's numbers show PC industry staggering back

Staggering back?  how is that?  profit fell 23 percent and sales fell 22 percent in the May-July...but beats street.  Damn, when I was in school, I wish I could have beat people's estimates, maybe I would have gotten $5 for each D instead of each A I got.

 

Toyota closing California plant it ran with GM

Toyota is shutting the California factory it ran with General Motors for 25 years -- the first time the Japanese automaker is closing a major auto assembly plant ever.

Ever, as in , ever ever?  or just now ever?  But I thought the recession was over?

I mean come on.  Who are we kidding here??

 

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#18) On August 28, 2009 at 11:28 AM, alstry (35.71) wrote:

The key reason Dell is still staggering is becuse government still spending money it doesn't have...

Public revenue was $3.8 billion, up 20 percent sequentially and a 16-percent decrease from a year ago. Growth in Dell’s larger government accounts and seasonal education business partially offset weaker demand in other parts of the business

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#19) On August 28, 2009 at 11:49 AM, jddubya (< 20) wrote:

Funny thing about Toyota is the plant won't be closing until March.  There are some that believe that Toyota is posturing for some favorable relief to keep the plant running.  Meanwhile, the local government is trying to put together an incentive package to either keep Toyota at the plant, or possibly another car manufacturer.  So the news about the plant closing is bad... but the bad really won't come to pass for another 6 months, if at all.

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#20) On August 28, 2009 at 4:11 PM, UKIAHED (81.04) wrote:

jason2713

Oh and the rebates will be taxed by uncle same, so you got $4500 in rebates, expect to be taxed 40% on that $4500...GOOD JOB UNCLE SAM!

No, the rebate will not be taxed.

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