youngman442002

ICSC Retail Store Sales: -1.3% W/W and +2.6% Y/Y, down from -0.1% and +3.1% last week. ICSC warns of (hopes for?) a last-minute shopping rush, but maybe people really are just giving cash.

that means temp layoffs sooner...less sales tax revenues....oh oh....oh......that is Ho Ho Ho backwards...

Meredith Whitney on CNBC says she believes the government is "out of bullets," and that the "sand could hit the fan" for banks in Q1.

I think she is right....Dubai now....Commercial Real estate tomorrow.....it will be interesting to see what GE´s lending arm speech is about today...they are a non bank bank....

Five top AIG (AIG) executives are reportedly ready to quit over worries about the government clipping their pay packages. The uprising was apparently initiated by AIG general counsel, Anastasia Kelly; she's joined by the heads of one of AIG's international life-insurance businesses, its financial-services division, its international property-casualty insurance businesses, and its U.S. property-casualty business.

they should be going to jail.....why did we bail them out....I still have not seen a good reason....not one...so what if Goldman Sachs lost money...or UBS....

Please release their names....we need to send them Christmas cards....

The projected long-term cost of the TARP is now at least $200B less than previous estimates, according to a Treasury official. The administration had estimated that taxpayers would have to shoulder $341B in costs under the program, but better-than-expected returns on the Treasury's investments to stabilize the system have more than halved that number.

of course we have to believe the numbers because there is no way for us to validate this....all is good...lol

Floyd Norris puts together this week's ISM manufacturing survey with yesterday's nonfarm payrolls to conclude that October's 10.2% was probably the peak unemployment for this cycle.

you need 300 thousand jobs a month to break even....next year when we are paying 15% interest....and have 20% unemployment...then we can vote again ..right...

"This kind of looks like a buying stampede ... It's just an awful popular trade." - One of a number of investment chiefs who have begun cutting holdings in gold and miners to take profits.

buy more on the dip...we are still spending money we don´t have....75 billion more this week...

A costly failure No. 128 for banks as 66-branch AmTrust Bank of Cleveland, the 120-year-old former Ohio Savings Bank, is seized at a cost to the Deposit Insurance Fund of an estimated $2B. AmTrust's parent company filed for bankruptcy earlier this week.

and gold went down because of what????????
smoke and mirrors..but now the smoke machine is starting to fail..soon everyone will know what a scam we are....

Rasmussen's economic confidence index falls to a four month low, and is up only nine points from the beginning of the year. "Just 8% of adults rate the economy as good or excellent while 58% say it is in poor shape. Just 24% say the economy is getting better while 51% say it is getting worse. 75% say the U.S. is still in a recession."

This can be extrapolated to lower Christmas sales..car sales...Durable goods ....so State taxes will be down..and income taxes will be down..and unemployment up....

U.S. bank stocks face above-average risks, Citigroup says, recommending investors "remain very selective" and focus on banks "that have strong capital positions, while avoiding banks with the combination of relatively high commercial real estate exposure and questionable capital strength." Citi's choice banks: BBT, FITB, BAC, STI. Duds: ZION, RF, KEY.

Citi is a failure..lol..but hey..at least they are warning us....

Nov. Challenger Job-Cut Report: 50,349, down from 55,6799 in October; the year-ago total for November was 181,671. Hiring intentions plunged to 10,076 vs. October's 57,520.

The new "normal" unemployment is now 17%.....this is the new third world country we live in...but we have welfare...and that will tank us fast....no income ..all expenses ...living on borrowed money...its either default or inflate....and we will not be picking which one it is..it is out of our hands..

Nov. ADP Private Payrolls Report: -169K vs. -150K expected and -203K in October. November was the eighth straight month during which the decline in employment moderated. "Although overall economic activity is stabilizing, employment usually trails economic activity, so it is likely to decline for at least a few more months."

This is good all those people can occupy the vacant office space in DUBAI...government jobs...occupy space and do nothing..

MBA Mortgage Applications: Mortgage applications rose 2.1% last week, including a 1.7% increase in refinancing, MBA said Wednesday. The average 30-year fixed mortgage rate fell three points to 4.79%, the lowest rate since May.

and when they get their new appraisials that show the house is worth less....many will default or back down...aplications mean nothing now.....at least I hope they do...I hope the banks are following rules now...and not like the old days where anyone could get a loan ...

GM CEO Fritz Henderson to resign, with Chairman Ed Whitacre as interim replacement. (WSJ)

Lets watch who is appointed or should I say anointed...afirmative action for sure

EPA says it expects to decide whether to boost the allowable ethanol level in fuel to 15% from 10% by mid-2010. At current consumption and mix levels, hitting the legally mandated consumption level of 15B gallons by 2012 is a mathematical impossibility.

blow up an engine..someone has to make a new one...that is Government Job creation in their eyes...

GM November U.S. sales: -2.2% to 151,427 vehicles, vs. estimate of +5.8%. Sales for Chevrolet, Buick, GMC and Cadillac up 6%. Car sales -1.3% to 58,036; light trucks -2.1% to 92,640. (PR)

Fox just announced in 5 minutes GM will make a big announcement...hmmmmm.... bankruptcy maybe....they will never pay the taxpayers money back...not with sales like this....