HS1

The U.S. is flirting with a double-dip recession if it doesn't act to contain rising U.S. deficits, President Obama warned Wednesday in an interview with Fox TV. The government is challenged in trying to boost the economy and spur job creation while setting a path toward long-term deficit reduction. Obama said the administration is considering tax measures to spur companies to hire.

Can't wait to vote this Socialist out on 2012!

Nov 2010 for his many of his anti-capitalist comrades.....

AIG (AIG) will be able to repay its $60B Fed credit line and "much or all" of the Treasury's $69.8B investment if financial markets stabilize, Moody's says. In a nod AIG's strategy of rebuilding some of the businesses it previously planned to sell, Moody's said, "We believe that the slower approach to restructuring could help AIG to generate more favorable values from its business portfolio than would be the case under rushed asset sales." Shares +7.6% premarket.

Yeah, Right......

The Obama healthcare overhaul passed a House vote by a narrow margin Saturday (220-215), setting up a fractious debate in the Senate this week. In an appearance Sunday, Obama said he is "absolutely confident" a healthcare bill will also pass through the Senate.

Obama's policies also show that he is "absolutely confident" that socialism is the way to go for the USA. Socialism failure rate is 100%. I suppose it's different this time! Can't wait to vote this guy out!

Reality Hits: Q3 GDP Growth Breakdown

Plenty of bearishness out there to keep climbing the proverbial "wall of worry"

Down Fridays

"On the following Monday, the Dow has averaged a decline of 0.31%, with positive returns 49% of the time."

So IOW, another worthless 'indicator'

Three more Ford (F) plants reject union contract givebacks, bringing the total to 11 plants and dimming Ford's hopes of getting the concessions granted to GM and Chrysler. "This never happens. It’s a vote of no confidence in the bargaining committee and a vote of no confidence in Ford," says a labor professor. (previously: I, II, III)

Ford needs to file BK and tell the super-greedy UAW to go to hell. Build the cars in MX, Canada, India, wherever needed, to be competitive. The UAW owns Obama and they know it so they don't care about their employer. Sick!

Top Obama advisor Larry Summers defends the government's stimulus efforts, saying we've walked "a substantial distance back from the economic abyss and are on the path toward economic recovery." Summers says the president will not be satisfied until the U.S. returns to "robust job growth," and called the significant reduction in the pace of job loss over the last six months "an essential first step in that direction."

There will be NO job growth if this administration continues its assault on small business owners while constantly raising taxes everywhere! Stop the insanity! Keep these people in charge and the Depression PART II is a LOCK!

(Hint: check unemployment trend)

Passenger revenue for U.S. airlines was down 21% in August from the year earlier, the 10th straight Y/Y decline. Passenger numbers continue to decline despite double-digit fare cuts.

what happened to "recession over"? lol

Still dealing with the fallout from attacks on its banking secrecy laws, Switzerland proposes a universal withholding tax on foreign earnings, to be applied by Swiss banks and transferred back to tax authorities in clients' countries of origin.

Wow, what a horrible idea.

RIP Swiss banking!

The global downturn is over, OECD says (.pdf). "Clear signals of recovery are now visible in all major seven economies."

LOL, and on the cover of this week's "TIME" magazine:
"Out of work in America - why double digit employment may be here to stay."

Does sustained double digit employment sound like any sort of recovery to you?

Meanwhile, Obama and his Union cronies are trying to start a trade war. Depression II looking more and more like a lock every day. The only thing that's out of sync (at this point) is the stock market - and thank God for that!

Higher Interest Rates: Not a Question of 'If' but 'When'

Re: the headline - tell that to TBT holders!

U.S. banks need more capital, former Fed chief Alan Greenspan tells a Mumbai conference this morning. "I think even in non-euphoria, non-crisis times, we need to have a larger buffer than we currently have."

The banks now know that they can get with away everything since the crash of the last year has demonstrated that the banks can keep the profits and govt (taxpayers) will eat the losses.

The precedent has been set.

U.S. bank deposits swell by $500B to a record $7.5T, a sign customers feel the system is working. But large institutions say they're frustrated by a recent trend that sees big customers spreading themselves across multiple banks, in part to sidestep the $250K limit on government insurance.

The banks can go to hell

Dollar General, the "recession-proof" discounter owned by Kohlberg Kravis Roberts, has filed for an IPO, a harbinger of what may be a parade of new listings. The company hopes to raise $750M and plans a $200M special dividend for KKR.

Good luck with that - the only thing that is truly recession-proof is my ex's ability to max out my credit cards

Detroit's Big Three lose ground to foreign rivals in the latest tally of cash-for-clunkers sales.

People are going for more reliable, more fuel efficient vehicles. And this surprises how?

Huh