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Hot Topic (More than 20 Replies) Economic Retardation (Read 23173 times)
MediaMaster
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Re: Economic Retardation
Reply #90 - May 3rd, 2009 at 9:52pm
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Yea this is not going well for bonds, tnx is already above 3. Bernake will continue to print money to buy treasuries. With all the upcoming treasury auctions, this won't be fun. Maybe congress will learn to stop spending what they don't have.

...then again maybe not.
  

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b0b
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Re: Economic Retardation
Reply #91 - May 3rd, 2009 at 10:30pm
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MediaMaster wrote on May 3rd, 2009 at 9:52pm:
Yea this is not going well for bonds, tnx is already above 3.


The stock market isn't going to be real happy about this either.  It'll be interesting to see how the Dow reacts to this tomorrow.


-b0b
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Re: Economic Retardation
Reply #92 - May 3rd, 2009 at 10:32pm
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well judging by the markets reaction to news lately, id say up 300 points!

Grin
  

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Re: Economic Retardation
Reply #93 - May 6th, 2009 at 12:50am
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In a filing today with the SEC, GM announced that it would issue 60 billion new shares, in order to "pay off" debts to the government, its bondholders and the UAW. And since the government would end up being the majority owner, only the approval of the US Treasury would be needed.

As a result of the flood of new shares, existing shareholders, much as previously expected, would end up owning 1% of the pro forma equity, and assuming straight mathematic dilution, the shares which closed at $1.85 would be worth a little over 1 cent.

Specifically, the actions contemplated by the filing are as follows:

   * Increase the number of authorized shares of GM common stock to 62 billion shares;
   * Reduce the par value of GM common stock from $1 2/3 per share to $0.01 per share; and
   * Effect a 1-for-100 reverse stock split of GM common stock, whereby each 100 shares of GM common stock registered in the name of a stockholder at the effective time of the reverse stock split will be converted into one share of GM common stock.


Why even invest anymore?

Also, the latest from the fed:

http://www.theonion.com/content/video/treasury_department_issues

ha!

this is fun too:

http://www.theonion.com/content/news/nation_ready_to_be_lied_to_about?utm_source...
  

"Our Constitution is designed only for a moral and religious people. It is wholly inadequate for any other."&&&&John Adams&&
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Re: Economic Retardation
Reply #94 - May 12th, 2009 at 4:47pm
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Red highlights indicate the annual jump in tax receipts from tax month (April)  For the first time since 83, April had a deficit.  We were about 170 billion off from this time last year. Time to sell more Treasuries/print money! hooray, we're doomed.

  

budget_deficit.jpg (Attachment deleted)

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b0b
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Re: Economic Retardation
Reply #95 - May 12th, 2009 at 6:44pm
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Smoke 'em if ya got 'em.


-b0b
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