Balta1701 Posted May 1, 2011 Share Posted May 1, 2011 Link to comment Share on other sites More sharing options...
Balta1701 Posted May 3, 2011 Share Posted May 3, 2011 Link Vice President Joe Biden plans to convene White House staff and Congressional leaders Thursday to pursue an agreement on the terms of an increase. There is a growing consensus among Democrats that some restrictions on spending are reasonable and necessary to secure an agreement with Republicans. To clear as much time as possible for that political process, the Treasury said on Monday that it would take the first in a series of emergency steps authorized by law this Friday. It will suspend a program under which it borrows money from state and local governments to help those governments meet legal obligations to invest in tax-exempt bonds. The issuance of the State and Local Government Treasury securities, known as “slugs,” are largely a convenience for the governments. A senior Treasury official said the program’s suspension might not cost those governments any significant amount of money, but it would require them to find alternative investments. The program has been suspended six times in the last two decades as the federal government bumped against the debt ceiling, most recently in 2007. The Treasury said it would begin to take additional steps on May 16, including suspending programs under which the government borrows money from pension funds for federal employees and then pays interest to those funds. By law, the Treasury must make up for the lost interest payments once Congress raises the debt ceiling. Link to comment Share on other sites More sharing options...
Be Good Posted May 4, 2011 Share Posted May 4, 2011 Re: Bin Laden's Death Well it doesn't look like the military-industrial complex will end anytime soon. That being said, I would think the whole defense industry will benefit, at least short term. Link to comment Share on other sites More sharing options...
Balta1701 Posted May 4, 2011 Share Posted May 4, 2011 QUOTE (Be Good @ May 4, 2011 -> 12:08 AM) Re: Bin Laden's Death Well it doesn't look like the military-industrial complex will end anytime soon. That being said, I would think the whole defense industry will benefit, at least short term. It's like the banks. Name a decision that has been taken in the last 20 years that didn't benefit them. Link to comment Share on other sites More sharing options...
Balta1701 Posted May 5, 2011 Share Posted May 5, 2011 Holy Hell. The number of Americans filing for their first week of unemployment benefits surged last week, the government said Thursday. The number of initial claims rose to 474,000 in the week ended April 30, up 43,000 from the week before. It was the highest level since August, and a big surprise to economists, who were expecting initial claims to drop to 400,000 in the latest report. Maybe 85,000 Americans were employed looking for Bin Laden? Link to comment Share on other sites More sharing options...
Rex Kickass Posted May 5, 2011 Share Posted May 5, 2011 There were a couple caveats to that number. Oregon instituted a new emergency unemployment program that inflated the number somewhat, and New York had 25,000 spring break layoffs that were a week to late to be adjusted as seasonal.... Still not a good number though. But, oil and gas are going through the floor. Oil down 6% today, from 108 to 102 or so. Link to comment Share on other sites More sharing options...
Cknolls Posted May 5, 2011 Share Posted May 5, 2011 (edited) QUOTE (Rex Kicka** @ May 5, 2011 -> 10:31 AM) There were a couple caveats to that number. Oregon instituted a new emergency unemployment program that inflated the number somewhat, and New York had 25,000 spring break layoffs that were a week to late to be adjusted as seasonal.... Still not a good number though. But, oil and gas are going through the floor. Oil down 6% today, from 108 to 102 or so. Those damn speculators. How dare they take oil down almost $12 in a day and a half. Trading 99.84 Edited May 5, 2011 by Cknolls Link to comment Share on other sites More sharing options...
southsider2k5 Posted May 5, 2011 Share Posted May 5, 2011 QUOTE (Cknolls @ May 5, 2011 -> 01:28 PM) Those damn speculators. How dare they take oil down almost $12 in a day and a half. Trading 99.84 Holy crap, they broke par? Damn, I think I actually called a top the other day. Stupid me for not putting some money on some summertime puts. Link to comment Share on other sites More sharing options...
Cknolls Posted May 5, 2011 Share Posted May 5, 2011 QUOTE (southsider2k5 @ May 5, 2011 -> 01:29 PM) Holy crap, they broke par? Damn, I think I actually called a top the other day. Stupid me for not putting some money on some summertime puts. Silver down 25% in last five days or so. Link to comment Share on other sites More sharing options...
southsider2k5 Posted May 5, 2011 Share Posted May 5, 2011 QUOTE (Cknolls @ May 5, 2011 -> 01:31 PM) Silver down 25% in last five days or so. I knew they had been punishing the metals, but I didn't realize that this had turned into a broadbased commodities rout. Go speculators! Link to comment Share on other sites More sharing options...
Rex Kickass Posted May 5, 2011 Share Posted May 5, 2011 QUOTE (southsider2k5 @ May 5, 2011 -> 02:33 PM) I knew they had been punishing the metals, but I didn't realize that this had turned into a broadbased commodities rout. Go speculators! Someone on CNBC said that yesterday, if Oil broke 106 today, that it would plummet because it would break through a triple bottom or something. Gas is also down 5% today. Link to comment Share on other sites More sharing options...
NorthSideSox72 Posted May 5, 2011 Share Posted May 5, 2011 QUOTE (Rex Kicka** @ May 5, 2011 -> 01:35 PM) Someone on CNBC said that yesterday, if Oil broke 106 today, that it would plummet because it would break through a triple bottom or something. Gas is also down 5% today. Gas will usually move more or less in parallel with oil, barring refinement infrastructure problems or massive vol trading in crack spreads. Link to comment Share on other sites More sharing options...
southsider2k5 Posted May 5, 2011 Share Posted May 5, 2011 QUOTE (Rex Kicka** @ May 5, 2011 -> 01:35 PM) Someone on CNBC said that yesterday, if Oil broke 106 today, that it would plummet because it would break through a triple bottom or something. Gas is also down 5% today. When anything goes on a run like this, there are a lot of people heavy into positions, so when they start going down, there is a certain multiple effect that comes from people locking gains, and then from margin calls from latecomers. Link to comment Share on other sites More sharing options...
Jenksismyhero Posted May 6, 2011 Share Posted May 6, 2011 244k non-farm jobs added in April....62k came from McDonalds alone. Unemployment up to 9%, but according to the government, that's just because more people have decided to look for jobs, proving once again that the unemployment figure is a joke of a stat. http://www.cnbc.com/id/42928731 Link to comment Share on other sites More sharing options...
NorthSideSox72 Posted May 6, 2011 Share Posted May 6, 2011 QUOTE (Jenksismyb**** @ May 6, 2011 -> 08:48 AM) 244k non-farm jobs added in April....62k came from McDonalds alone. Unemployment up to 9%, but according to the government, that's just because more people have decided to look for jobs, proving once again that the unemployment figure is a joke of a stat. http://www.cnbc.com/id/42928731 Nice surprise. Hopefully the UE filings come back in line in the next couple weeks. Link to comment Share on other sites More sharing options...
southsider2k5 Posted May 6, 2011 Share Posted May 6, 2011 Big day for Crude today. It keeps trying to test $100. It would be a big step forward if it closes under $100 for the weekend. Link to comment Share on other sites More sharing options...
Jenksismyhero Posted May 6, 2011 Share Posted May 6, 2011 i wanna know how this is legal: http://www.chicagobreakingnews.com/news/lo...0,1965727.story So, let's impose a general business tax, and then pick out specific businesses to give benefits too. Quinn is such a lying pile of s***. Link to comment Share on other sites More sharing options...
Rex Kickass Posted May 6, 2011 Share Posted May 6, 2011 QUOTE (southsider2k5 @ May 6, 2011 -> 10:18 AM) Big day for Crude today. It keeps trying to test $100. It would be a big step forward if it closes under $100 for the weekend. Down around 97 right now. Link to comment Share on other sites More sharing options...
southsider2k5 Posted May 6, 2011 Share Posted May 6, 2011 QUOTE (Rex Kicka** @ May 6, 2011 -> 01:54 PM) Down around 97 right now. Yeah, and it even tested 100 by trading as high as 102 during the session. That is a good psychological sign. Link to comment Share on other sites More sharing options...
NorthSideSox72 Posted May 6, 2011 Share Posted May 6, 2011 QUOTE (Jenksismyb**** @ May 6, 2011 -> 01:33 PM) i wanna know how this is legal: http://www.chicagobreakingnews.com/news/lo...0,1965727.story So, let's impose a general business tax, and then pick out specific businesses to give benefits too. Quinn is such a lying pile of s***. MIght be a bad idea, but, how would it be illegal? Link to comment Share on other sites More sharing options...
Balta1701 Posted May 6, 2011 Share Posted May 6, 2011 QUOTE (NorthSideSox72 @ May 6, 2011 -> 03:44 PM) MIght be a bad idea, but, how would it be illegal? Recalling the tax credits given out when Boeing jumped their HQ to Chicago, for example. Link to comment Share on other sites More sharing options...
Jenksismyhero Posted May 6, 2011 Share Posted May 6, 2011 QUOTE (NorthSideSox72 @ May 6, 2011 -> 02:44 PM) MIght be a bad idea, but, how would it be illegal? It might not be, but it's just so wrong. The legislature passes a bill increasing business taxes and then the governor is given unilateral power to strike deals with specific businesses? Something's not right there. Does the governor really have the power to provide tax or other financial benefits to a company without legislative support? Link to comment Share on other sites More sharing options...
NorthSideSox72 Posted May 6, 2011 Share Posted May 6, 2011 QUOTE (Jenksismyb**** @ May 6, 2011 -> 02:52 PM) It might not be, but it's just so wrong. The legislature passes a bill increasing business taxes and then the governor is given unilateral power to strike deals with specific businesses? Something's not right there. Does the governor really have the power to provide tax or other financial benefits to a company without legislative support? I'm actually not sure if the Gov can do it himself or not, probably depends on the state. But I'd also bet that Quinn was working with at least some members of the legislature as well, who would all like to see one of the state's premier employers stick around. Link to comment Share on other sites More sharing options...
Jenksismyhero Posted May 6, 2011 Share Posted May 6, 2011 So unless you're buddy buddy with the governor and some key legislators, prepare to pay the price. No wonder we're now the 48th ranked state for business according to CEO's: http://www.cnbc.com/id/42912578 Link to comment Share on other sites More sharing options...
Balta1701 Posted May 6, 2011 Share Posted May 6, 2011 QUOTE (NorthSideSox72 @ May 6, 2011 -> 04:01 PM) I'm actually not sure if the Gov can do it himself or not, probably depends on the state. But I'd also bet that Quinn was working with at least some members of the legislature as well, who would all like to see one of the state's premier employers stick around. It probably means that when the tax bill was passed, or when some other tax bill was passed, it gave the governor that power. Link to comment Share on other sites More sharing options...
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