cash

Is This a Sucker's Rally?

Market is about sentiment, not fundamentals. If you can get the other guy to pay more than what you did for an issue - end of story. Just cut & run. Investing is a misnomer. It is more akin to gambling. Invest in yourself, not in the market.

As the FDIC debates whether it'll need to hit the Treasury up for a loan, Institutional Risk Analytics - which has usually taken a grim outlook on bank prospects - now thinks that more than 1,000 banks will fail in the current cycle. With 25 down in 2008 and 94 so far this year, that just leaves another 900 or so.

Geoffster wrote

>>The conclusion is obvious. The prudent will pay for the selfish >>choices of the imprudent.

Of course. The house flipping imprudent, or the over-leveraged banker are not useful members of the society, but rather they are parasites. And we have a government that rides rough shod over contract law, decimates the rights of bond holders in favor of unions, and bails out their campaign donating friends. What can you expect. If you are prudent you will be made to pay

Facing ballooning deficits and an aging population, America's least-bad choice may be the creation of a new value added tax.

what, another tax? After lavishly bailing out billions for banksters, spendthrifts, and unions - you want me to pay more taxes? what gall!

Are We in the Eye of the Economic Storm?

>>Innovation, is now the final frontier for economic sustainability, the >>exponential growth fairy is dead, but in the long run, we are all dead.

Innovation is the ONLY real engine that can create widespread wealth and prosperity. Unfortunately, that is not how fedbama think. They have wasted trillions of dollars on propping up bad banks, and bailing out spendthrifts. If you work hard & innovate - just wait, Obama is coming around with tax increases to reward you.

Avanir Pharmaceuticals (AVNR) is +79% early on after saying a reformulated version of its Zenvia drug reduced the effects of pseudobulbar affect ((PBA))), a condition in which patients cannot control outbursts of crying or laughing that affects two million Americans.

Perfect medicine to control our boom/bust economy. All the gloom & doom bears, and happy-days-are-here-again bulls should regulary pop one

Meanwhile, Geithner would not rule out a new middle-tax class to get the economy back on track and reduce bulging deficits. "We're going to have to do what's necessary," he said.

Of course, somebody has got to pay for all the excesses of banksters, their bonuses, free cars, free mortgage payments, etc... you name it. If you are the prudent saver, pulling this economic wagon, you get whipped so you would pull faster. Whipping the corrupt bankers like Goldman Sachs or the brain-dead spendthrifts is futile. Why bother, when you have the productive middle class that believes in hard work, enterprise and innovation. Squeeze more juice out of them.

Behind the Income Tax Numbers: Top 1% Paid 40% of Total

And when our tax money is wasted by the government bailing out bad banks and their ultra-rich cronies, vote-bank communist unions, and distributed to house flipping spendthrifts - every dollar that they collect as taxes is a dollar that is better left in private hands. The yields are far greater.

Lawyers take pro bono cases, and doctors treat the uninsured in medical emergencies, giving up profit to do so. So Joe Nocera wonders: What is banking's moral obligation to the country that fished it out of the abyss?

Bankers have nothing to offer to the country. They are just middlemen who suck money from all sides. They cannot create prospertity/wealth/jobs or otherwise help raise our living standards. They are not the engine of the growth. They are at best like the grease that can facilitate the wheels to move smoother. Alas, this fact was lost on his highness Obama & turbotax Tim. They have wasted boat loads of money propping up bad banks/behavior. In stead it could have been used to spur competition, creativity which can pull us out of this morass in time.

Bankslaughter

What is the incentive for Obama/Geithner/Congress to get tough on rogue banksters? In a democratic/capitalistic society everybody pursues what is in their best interest. Heck, at the first sign of trouble the banksters can get their stocks unshortable, while all other productive segments of the markets are crater. Happy banksters=Happy politicians

Buffett warms to a second stimulus: "The first stimulus bill was sort of like taking a half-tablet of viagra and also having a bunch of candy mixed in."

Just print money, and spend like a drunkard. Invest in printing presses and drown your troubles in cheap money

According to The Psy-Fi Blog, quants bear much of the brunt for the collapse: "Despite the sophistication and elegance of the mathematics, they too make simplifications because they have to, and these matter to us all because they’ve brought the world to the point of financial meltdown thrice within a few years."

Yes, math is problem. Not the house flipping consumers to make quick bucks, not the millions of dubious mortgages issued by banks looking for easy fees. It is rather the ignorance of elementary mathematics on the part of Harvard/Yale banksters & consumers alike is the reason for the collapse

The Real Cause of Foreclosures: No Skin in the Game

Given that we continue to elect rogues whose only goal is to perpetuate their power & influence why complain? They need votes, and free homes, cars etc... to the poorer voting masses will endear them to their base. Bailing out their rich auto/bankster friends will fetch them campaign dollars, speakerships, and revolving door positions. If you are the responsible saving kind, you need to pay for that privilege! And pay you will.

The world's wealthiest people are also the largest emitters of greenhouse gases, which is why a new study suggests basing targeted emission cuts on the number of rich people in a given country.

Pure nonsense! Tax the rich is the ONLY solution these obamaniacs know. No creativity, originality, ideas required! Taxing the rich for everything will automatically make everybody else rich - except the one you are taxing of course! But wait this is a just a means to tax everybody as we are all going to get rich. Hats off, what a novel concept, Obama!

Employment Numbers Uniformly Horrible

Obama - his highness, (and turbotax Tim) have taken care of their bankster friends to the tune of billions. Lost on him is the fact that the banks can neither create wealth/properity or jobs. They are just middlemen to suck money from all sides. Wel done, Obama. I see you are coming around for more money from all of us to fund all your other equally dubious plans. Go to your bankster friends in stead of confiscating the money I have saved.

May Personal Income: +1.4% to $167.1B, vs. consensus of +0.3%. April revised to +0.7% from +0.5%. Personal spending: +0.3%, in line. Personal saving as a percentage of disposable income: 6.9% to $769B, vs. 5.6% in April.

Private wage and salary disbursements DECREASED $12.4 billion in May, compared with a decrease of $0.7 billion in April.

Goods-producing industries' payrolls DECREASED $12.9 billion, compared with a decrease of $12.2 billion;

manufacturing payrolls DECREASED $9.8 billion, compared with a decrease of $4.9 billion.

Services-producing industries' payrolls INCREASED $0.5 billion, compared with an increase of $11.5 billion.

Government wage and salary disbursements INCREASED $3.9 billion, compared with an increase of $5.7 billion.

Green shoots everyone!