Stocks

From the 10/25/09 news: “NEW YORK (AP) -- Wall Street may be roaring again and manufacturers may see a bright future selling their wares in Asia, but for many Americans, it's still a downturn until the jobs come back. This week, earnings from several companies with deep ties to corporate payrolls, consumer demand and the labor market will show whether employers are hiring, firing or holding off on filling vacancies. Here's a closer look at the companies reporting and what their results can tell us about the job market: Monster Worldwide Inc. (job search); WellPoint Inc. and Aetna Inc. (health benefits); Apollo Group Inc. and DeVry Inc. (job training-education); International Paper Co. (product containers.)” This is good to know, even for this beautiful topless woman.

Crystal Balls

From Business Week (the magazine): Some of the worst financial predictions for 2008 and you can see why: “1. "A very powerful and durable rally is in the works. But it may need another couple of days to lift off. Hold the fort and keep the faith!" — Richard Band, editor, Profitable Investing Letter, Mar. 27, 2008. 2. AIG "could have huge gains in the second quarter." — Bijan Moazami, analyst, Friedman, Billings, Ramsey, May 9, 2008. 3. "Freddie Mac and Fannie Mae are fundamentally sound.... I think they are in good shape going forward." — Barney Frank (D-Mass.), House Financial Services Committee Chairman, July 14, 2008. 4. "I'm not an economist, but I do believe that we're growing." — President George W. Bush, July 15, 2008. 5. "I think Bob Steel's the one guy I trust to turn this bank around, which is why I've told you on weakness to buy Wachovia." — Jim Cramer, CNBC commentator, Sept. 15, 2008. 6. "Existing-Home Sales to Trend Up in 2008" — Headline of a National Association of Realtors press release, Dec. 9, 2007. 7. "I think you'll see $150 a barrel [of oil] by the end of the year." — T. Boone Pickens, June 20, 2008. 8. "I expect there will be some failures.... I don't anticipate any serious problems of that sort among the large internationally active banks." — Ben Bernanke, Federal Reserve Chairman, Feb. 28, 2008. 9. "In today's regulatory environment, it's virtually impossible to violate rules." — Bernard Madoff, money manager, Oct. 20, 2007. 10. "There's growing evidence that parts of the debt markets...are coming back to life." — Peter Coy and Mara Der Hovanesian, Business Week, Oct. 1, 2007” THE WOMAN AT LEFT is saying something like "SAY WHAT?"

Told You So

Now comes Mr Sarkozy, President of France, at the U.N., saying in no uncertain terms that something must be done to stabilize the credit markets - meaning that the U.S. must act. He must have been speaking for a lot of other countries. I told you so. The pressure is coming from Europe and China. Then there was a call to expand the U. N.'s Security Council, meaning that the power of the U.S. in that body - if the suggestion is taken seriously - will be diluted. The new Council will probably include Germany, Spain, Japan, and Italy as permanent members. They saw an opening and they took it. They fear that a mismanaged U.S. economy will bring down the entire world financial system. In other developments, Warren Buffett bought a few shares ($5 billion) of Goldman Sachs stock. I was going to buy some myself but I ran out of money last week. Wall Street is not doing well, but it's not doing as badly as they would have us believe. Also, the FBI is investigating several banks over possible criminal activity.