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alstry (35.70)

Manipulating a MELTDOWN!!!!!!

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February 12, 2009 – Comments (5)

This blog is a continuation of the last one......

If we allow the cancer to keep spreading....stories like this will be commonplace......

The Sacramento Bee reports from California. “California’s unemployment rate rose to 9.3 percent in December, slightly above the 8.7 percent recorded for the greater Sacramento area. Andrea Hawkins said she was doing well financially, running a mortgage business out of her Elk Grove home until the housing downturn. Now she’s struggling to pay her own mortgage each month. ‘It’s scary trying to make ends meet,’ she said.”

“Now the single mother of four has joined the ranks of those needing assistance. She visits food banks, clothes closets, churches and other charities looking for aid to pay bills and to feed and clothe her children. ‘I had to humble myself and put my pride aside,’ Hawkins said. ‘… It really doesn’t feel good.’”

5 Comments – Post Your Own

#1) On February 12, 2009 at 10:32 PM, mliu01 (< 20) wrote:

Fuck GB, he is one of the dick head that watched us heading here and promoted it. Now he is talking with some logic. What a pos.

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#2) On February 12, 2009 at 10:58 PM, alstry (35.70) wrote:

mliu.....

I was thinking the same thing........scary.

FYI...I just went out and purchased a few dozen American Eagles and a few 10 OZ silver bars.  I am turning them into a poker chip set as soon as I get enough.  This is sorta fun....I like my coin dealer.....he is a nut case just like me.........

Just so you know.....there is an easy solution to this mess....as soon as the government heads down that road....I will become PostiveAlstry.

Bet on it.

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#3) On February 12, 2009 at 11:00 PM, thisthatother47 (88.49) wrote:

As far as news appearing at key support levels, this has happened time and again over the past year+.  You better believe the powers that be watch the charts and know *exactly* when they will get the most bang for their buck.

It's almost as if they want everyone to take their ball and go home.  Something tells me they haven't thought that through far enough - what else is new...

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#4) On February 12, 2009 at 11:57 PM, SharpSEO (66.83) wrote:

"You better believe the powers that be watch the charts and know *exactly* when they will get the most bang for their buck."

That may be giving them too much credit... the plan so far seems to be: release gnarly information late Friday night (fdic bank seizures, state street undisclosed losses, etc), and nobody will notice. At least until Monday.

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#5) On February 13, 2009 at 12:06 AM, alstry (35.70) wrote:

GET READY TO RUMBLE.........

From the WSJ:

A growing wave of souring corporate debt claimed another victim on Thursday as Charter Communications Inc., the nation's fourth-largest cable-TV company, said it would seek bankruptcy-court protection by April 1.

Charter, which was started by Microsoft Corp. co-founder Paul Allen, said its planned Chapter 11 filing was intended to trim about $8 billion from its $21 billion in debt. After extensive negotiations, a committee of debtholders agreed to the plan, under which Mr. Allen will retain control of the company.

Charter's bankruptcy-court filing would be the latest in a succession of corporate setbacks. Earlier this week, Muzak Holdings LLC, known for producing background music, and packaging company Pliant Corp. sought Chapter 11 protection. On Thursday, Aleris International, which produces aluminum products, and the U.S. operations of Midway Games Inc. did the same. Satellite-radio company Sirius-XM Radio Inc. and mall giant General Growth Properties Inc. both face large debt payments in coming days, and are trying to negotiate out-of-court solutions to their problems.

The U.S. is entering a period likely to feature the most corporate-debt defaults, by dollar amount, in history. By various estimates, U.S. companies are poised to default on $450 billion to $500 billion of corporate bonds and bank loans over the next two years.

In percentage terms, the projections from the three main credit-rating agencies for defaults on high-yield bonds approach levels last seen in 1933, according to an 87-year default-rate history compiled by Moody's Investors Service. The agencies expect default rates on these non-investment-grade bonds to triple to about 14% or higher this year, from around 4.5% last year.

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