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alstry (36.08)

But NOT time to go YET!!!!!

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September 15, 2009 – Comments (5)

Are you ready for a FLOCK OF BLACK SWANS......9.09

US credit shrinks at Great Depression rate prompting fears of double-dip recession

 

Both bank credit and the M3 money supply in the United States have been contracting at rates comparable to the onset of the Great Depression since early summer, raising fears of a double-dip recession in 2010 and a slide into debt-deflation.   "There has been nothing like this in the USA since the 1930s," he said. "The rapid destruction of money balances is madness."

 

http://www.telegraph.co.uk/finance/financetopics/recession/6190818/US-credit-shrinks-at-Great-Depression-rate-prompting-fears-of-double-dip-recession.html

Recession?????  This time around we have MASSIVE leverage.  MASSIVE LEVERAGE!!!!!

MOAP....9.09

5 Comments – Post Your Own

#1) On September 15, 2009 at 5:59 PM, alstry (36.08) wrote:

GE Transportation is cutting more than 1,500 jobs in northwestern Pennsylvania.

The company announced Tuesday that it would make permanent 1,200 temporary layoffs that were announced in February at its factory near Erie, which makes electric locomotives. In addition, 230 hourly jobs and 50 salaried jobs are being cut there. Another 200 people are losing their jobs at an engine plant in Grove City.

Human resources manager Shaun Francis says the company was hoping that orders would improve but cut the jobs when that didn't happen.

http://www.phillyburbs.com/news/news_details/article/25/2009/september/15/ge-transportation-cuts-more-than-1500-pa-jobs.html

In a consumer economy, if you kill the consumer, there is no economy.  Less bad can only be better than expected for so long until worse eventually becomes nothing.

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#2) On September 15, 2009 at 6:12 PM, IIcx (< 20) wrote:

no more comments or recs for you from me sword carrier -- especially on our Fool's stage. Bears who don't see the fish in the stream simply don't have a mind for the present or future but still consume ;)

Best Hope in your Struggle with Yourself, IIcx

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#3) On September 15, 2009 at 6:15 PM, jason2713 (< 20) wrote:

What does MOAP stand for?  Just curious

Keep the headlines coming man.  People need to see it for what it is, not for what the market is telling us.

There is a GIGANTIC disconnect between the market and what's going on.

There's no denying it.

 

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#4) On September 15, 2009 at 6:17 PM, alstry (36.08) wrote:

NO MONEY.....NO COPS!!!!!

Sagging economy, budget cutbacks result in closure of dozen small-town police departments

OKLAHOMA CITY (AP) — The strained economy and resulting budget cutbacks are hitting small town police departments especially hard.

In the last year, the Oklahoma Association of Chiefs of Police report the number of police departments in the state has dropped from 360 to 348.

The agency's executive director Stacey Puckett says he expects to see more close as a result of the economy.

Puckett says cutbacks also have affected equipment and staffing at those departments struggling to stay open in small towns.

He says worn out vehicles are often kept running with cheap fixes, old radar guns are patched so officers can write speeding tickets, and aged bulletproof vests are used.

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#5) On September 15, 2009 at 6:18 PM, jason2713 (< 20) wrote:

I have a feeling these kinds of headlines will become common place.

We are still in a contractionary period, a major consolidation is going down where big fish are taking over smaller fish.

Adobe to buy Omniture for $1.8B, 3Q profit slides

 

Stocks rise on retail sales, manufacturing data

Minus gas consumption, and cash for clunkers, we talking a 0.6% increase in sales.  An improvement?  slightly, since on an anual basis that's about 7% in the green, or about 4% when adjusted for inflation.  I don't think this will continue as more and more lose their jobs.

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