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Old February 16th, 2009 #281
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Default Kansas Follows California

http://www.ktka.com/news/2009/feb/16...e_tax_refunds/

Kansas suspends income tax refunds

Story by The Associated Press

1:33 p.m. Monday, February 16, 2009

Kansas is suspending income tax refunds and may not be able to pay its employees on time.

The state is strapped for cash in its main bank account. Republican legislative leaders blocked an effort by Democratic Gov. Kathleen Sebelius to transfer funds into the account.

Sebelius wanted to move $225 million from other accounts throughout state government, allowing the state to pay its bills. That move requires approval of legislative leaders, and Republicans balked.

Now Budget Director Duane Goossen said he's not sure the state can meet its payroll. State employees are due to be paid again Friday.

GOP leaders want Sebelius to sign a bill making $326 million in adjustments to the budget for the fiscal year that ends June 30.

Legislators approved that bill last week, but it has not reached her desk.

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Old February 16th, 2009 #282
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Quote:
Originally Posted by Gott View Post
8904 at 3:15.
Why would Jew Banksters want to kill themselves? The Pentagon still has their backs.


http://www.truthdig.com/report/item/...ericas_top_spy

The specter of social unrest was raised at the U.S. Army War College in November in a monograph [click on Policypointers’ pdf link to see the report] titled “Known Unknowns: Unconventional ‘Strategic Shocks’ in Defense Strategy Development.” The military must be prepared, the document warned, for a “violent, strategic dislocation inside the United States,” which could be provoked by “unforeseen economic collapse,” “purposeful domestic resistance,” “pervasive public health emergencies” or “loss of functioning political and legal order.” The “widespread civil violence,” the document said, “would force the defense establishment to reorient priorities in extremis to defend basic domestic order and human security.”
“An American government and defense establishment lulled into complacency by a long-secure domestic order would be forced to rapidly divest some or most external security commitments in order to address rapidly expanding human insecurity at home,” it went on.
“Under the most extreme circumstances, this might include use of military force against hostile groups inside the United States. Further, DoD [the Department of Defense] would be, by necessity, an essential enabling hub for the continuity of political authority in a multi-state or nationwide civil conflict or disturbance,” the document read.
In plain English, something bureaucrats and the military seem incapable of employing, this translates into the imposition of martial law and a de facto government being run out of the Department of Defense. They are considering it. So should you.
 
Old February 17th, 2009 #283
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Originally Posted by strelnikov View Post
“Under the most extreme circumstances, this might include use of military force against hostile groups inside the United States. Further, DoD [the Department of Defense] would be, by necessity, an essential enabling hub for the continuity of political authority in a multi-state or nationwide civil conflict or disturbance,” the document read.

In plain English, something bureaucrats and the military seem incapable of employing, this translates into the imposition of martial law and a de facto government being run out of the Department of Defense. They are considering it. So should you.
This scenario, unfortunately, may be the last, best option - the alternative being general starvation and chaos across the Kwa. Be assured that in the event of such, there will be plenty of opportunities for chaos anyway...
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Old February 17th, 2009 #284
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Originally Posted by notmenomore View Post
This scenario, unfortunately, may be the last, best option - the alternative being general starvation and chaos across the Kwa. Be assured that in the event of such, there will be plenty of opportunities for chaos anyway...
For me probably the best option is to move to the Pacific Northwest, because if the hammer drops in the rest of the US I think a Idaho White Nationalist revolution will go further.
 
Old February 17th, 2009 #285
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Originally Posted by strelnikov View Post
For me probably the best option is to move to the Pacific Northwest, because if the hammer drops in the rest of the US I think a Idaho White Nationalist revolution will go further.
You are likely correct, although i like the idea that we are everywhere and nowhere at the same time.

BTW, DOW took a shit today. We shall see if the PPT can bring it back up.
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Old February 17th, 2009 #286
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THIS IS WHAT IS CALLED A STICK SAVE:


PPT is working hard on pulling the DOW back up. LOL, free markets my ass!
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Old February 17th, 2009 #287
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Default Ascendancy of jews, muslims noted in pork plant closings.

So much for Right Is Right's pork dildos for Israel campaign....Also, mestizos headed for a food stamp/welfare office near you. Will mestizo/nigger friction at welfare offices set off racial violence? Only time will tell.

http://www.marketwatch.com/news/stor...7D&dist=msr_32

NEW YORK (MarketWatch) -- Smithfield Foods Inc. said Tuesday that it expects to close six plants and reduce the number of independent operating companies to three from seven in an effort to save $125 million a year by 2011.


The No. 1 U.S. pork producer expects a pre-tax charge of about $85 million in its third quarter, related to the changes. Smithfield shares fell 6% in late morning trading.
"Layoffs and plant closings are difficult but necessary decisions," said C. Larry Pope, president and chief executive officer of Smithfield (SFD:Smithfield Foods Inc
News , chart , profile , more
Last: 8.96-0.61-6.37%

"We know that this will create adversity for the employees affected and we will work with union officials and others to determine how we can provide assistance to our employees to find future employment. Also, we will be transferring many employees to other plants."
Here's a rundown of the affected plants:
  • The Smithfield Packing Co. South facility in Smithfield, Va., is slated to close in December. Of 1,375 employees, 1,035 will be offered transfers.
  • A Plant City, Fla., facility will close in September, affecting 760 employees. Some salaried employees will be offered transfers.
  • The Smithfield Packing Co. plant in Elon, N.C., will close in late summer. About 160 employees will be affected.
  • A John Morrell plant in Great Bend, Kan., will close in July, affecting 275 employees.
  • A Farmland Foods plant in New Riegel, Ohio, will close in April, affecting about 230 employees. Some salaried employees will be offered transfers.
  • An Armour-Eckrich Meats plant in Hastings, Neb., will close in July, affecting about 370 employees.
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Old February 17th, 2009 #288
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Quote:
Today I’m going to show you two homes that encapsulate the aftermath of the housing bubble bursting here in California. One home is in Compton California and the other is in Pasadena. Both L.A. County homes but an entire world apart. Today we salute you Compton and Pasadena with our Real Homes of Genius Award.
Prime and Non-Prime Equal Decline

Quote:
The first home takes us to Compton California. You always hear agents saying “location, location, location” but during the bubble, as long as a home was in California it was golden. This above home has all the qualities of a major mania gone wrong. This 1 bedroom 1 bath home with a stunning 500 square feet features the new trend in real estate, garbage can photography. I’m not sure why agents or banks don’t spend ten seconds moving the trash can from the actual photo of the home. This is another reason why I support the abolishment of percent fees for real estate agents and advocate a low flat rate fee. This home has been on the market since August of last year. First, let us see the insanity that lenders brought on this home:
Sale History
07/21/2008: $235,060 *
09/27/2007: $340,000
The July data is most likely the lender taking the place back. Yet you should be flabbergasted at that September 2007 sale price. $340,000 for 500 square feet in Compton! So what is this home now selling for?
Price Reduced: 11/17/08 — $83,900 to $78,900
Price Reduced: 01/22/09 — $78,900 to $69,900
This home has fallen 80% from the sale price of 2007! You would think that at this level, an investor may be interested but now you start realizing that many investors are now being extremely picky regarding the homes they will purchase. Most of the housing porn shows never talked about buying a home as a cash-flow property for the long-term. No. These shows were obsessed with the instant gratification culture and every property was a fix and flip example. That is now finished. Now, the few shows that remain are basically a reality show with neurotic wannabe actors trying to make a name in the entertainment industry.
Thank you Compton for showing us that we should have more faith in lenders and agents. After all, look at the good job on this home!
Pasadena - When a Good Location Isn’t Enough

Quote:
Pasadena is a good area in Los Angeles County. So good in fact, that 007 tried to break in this home with his laser pen. He should have just knocked! This 1,200 square foot home has 3 bedrooms and 1 bath and shows us once again the fantastic staging going on by people in our respectable housing industry. Let us take a look at this glamour shot of the bathroom:

Quote:
I can see myself taking a bubble bath right now! What about for those frigid 60 degree nights we have in Southern California?


Quote:
I love it! Maybe we can tear out the wall and use it as fire wood. I love the ad for this place:
“Both have been lovingly and completely gutted and now stand as good-to-go exterior shells ready for your creative touch, or byob (bring your own bulldozer) large lot, school in close proximity spectacular mountain views .”
Lovingly gutted! Bwahahahaha! BYOB. Bring your own bulldozer. Oh man, do these people actually think this is going to work? This home has been on the market for 379 days and yes, I know that you are absolutely stunned. Let us look at the sale history on this place:
Sale History
08/23/2006: $522,000
Half a million for this? Well, it is in Pasadena and you can just imagine someone watching one of those hype housing shows thinking that they will “lovingly gut” the place and slap on some granite countertops and some grass and you can then flip it for $900,000! Let us see the pricing action on this place:
Price Reduced: 04/09/08 — $479,000 to $450,000
Price Reduced: 04/26/08 — $450,000 to $375,000
Price Reduced: 05/01/08 — $375,000 to $360,000
Price Reduced: 05/24/08 — $360,000 to $279,000
Price Reduced: 06/22/08 — $279,000 to $249,000
Price Reduced: 07/17/08 — $249,000 to $239,000
Price Reduced: 10/24/08 — $239,000 to $219,000
Price Increased: 11/03/08 — $219,000 to $230,000
Price Reduced: 01/02/09 — $230,000 to $199,000
Bwahahahaha! I love how they raised the price in November of 2008. A little bit of reverse psychology eh? Didn’t work! Freud is broke and isn’t falling for psychological gimmicks found on over the counter real estate books. The home finally broke the $200,000 mark and is now selling for $199,000. That is over a 60% decline from the peak in Pasadena. So not only does location matter, but the actual home itself.
Do you need any more proof why trying to support any price bottom is absurd? What do you think is going to happen to comps when these homes sell in these areas? Prices will fall! That is why I have given you 10 reasons why the bottom for California housing will not be here until summer of 2011.
Today we Salute you Compton and Pasadena with our Real Homes of Genius Award.
http://www.doctorhousingbubble.com/r...r-the-economy/

More here.
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Old February 17th, 2009 #289
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Russian markets close...


Quote:
Both the MICEX and RTS exchanges have been closed - lock limit down.
The markets have rendered their decision on the G7, Geithner and Obama's administration thus far, as expressed by Rick Santelli on CNBC this morning.

CNBC was running Terminator II theme music as their bumper this morning; that's pretty accurate. There is no chart support left between here and (unfortunately) the 500s in the SPX, and there's an argument to be made that the next real support is down around that dreadful 210 target that I laid out a couple of weeks ago.
Obama's administration must stop dicking around with asset prices. The "credit freeze" is manufactured as a consequence of idiotic actions of government; by at the same time threatening to support asset prices and destroy their value they have blown bid/offer spreads out to the point that trades cannot take place.
This stupidity must stop and it must stop NOW. Whatever policy is going to be on these assets it must be set and then the government has to sit down and shut up. If government is going to attempt to overpay for these assets then it must secure 10 and 30 year funding necessary to take the entire lot - not this garbage 13-week rollover nonsense where we can destroy our government if we have a failed roll - and accept the damage that much higher interest rates will cause from issuing roughly $2 trillion in 10s and 30s. This will mean severely constrained federal budgets and much higher borrowing costs for homeowners, companies and others - in short, it will be an engineered depression for the purpose of bailing out the banks.
That's the price folks - but it is the only safe way we can actually do what we've threatened, which is to overpay for these assets.
If we're not going to overpay for these assets then we must say so in a loud, clear voice, and if that results in the banks being declared insolvent, then so be it. Do it and get it over with. It will suck but then it will also be over. There is severe economic damage that will result from this path of action as well, mostly from having to backstop the FDIC. Yes, I know this detonates pensions and the like. The fact of the matter is that they're already dead and we must stop lying to everyone, first and foremost ourselves.
We also must consider "ring-fencing" the United States, pulling all swap lines and protecting ourselves. We cannot backstop the world; we don't have the money and can't raise it. We are tying an anvil to our ankles and jumping into the water, and if this doesn't stop - now - we are headed for the abyss.
We got here as a consequence of government idiocy. If government does not stop behaving like Moe, Larry and Curly we will watch Europe implode, we will try to backstop the EU and Asia via our swap lines and we will go down with them. Swaps have blown out this morning which indicates that despite all the "attempts" to inject stability we have failed.
Time has run out for the bullcrap games of the last eighteen months. Bernanke must be directed to protect our government and Treasury first and withdraw all external support until and unless Congress has authorized the full expenditure that could result from extending any US-backed program to a foreign entity.
If Obama lacks a sack between his legs and is incapable of taking the necessary actions to protect our nation then he must resign here and now. Playing hostage to the banksters never was cute but if this is not stopped right now - today - it may well prove fatal to our Republic.
http://market-ticker.denninger.net/a...es-Closed.html
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Old February 17th, 2009 #290
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Old February 17th, 2009 #291
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Another interesting day on the Street.

 
Old February 17th, 2009 #292
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Those houses you posted from Compton and Pasadena are ridiculous. Outside of CA I've seen decent houses for sale (without huge holes in the wall) for under $50K. I'm not talking ghettoes here either.
 
Old February 17th, 2009 #293
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Originally Posted by Peer Fischer View Post
Those houses you posted from Compton and Pasadena are ridiculous. Outside of CA I've seen decent houses for sale (without huge holes in the wall) for under $50K. I'm not talking ghettoes here either.

Real Homes of Genius is hilarious. They have some comments sometimes, too. One guy mentioned on one house that it was within spitting distance of the King riots and it was 500K. This was about two years ago. The site looks for the ridiculous in southern California housing industry.

Under 50K and worth it? Now that is interesting. OTOH, with all of the mestizos there, are White people going to buy those homes or muds/niggers? I understand that the niggers are vacating LA because of mestizo influx and undercutting wages for those niggers who do have a job.

Wife and I just put in an offer on a 'cheap' home. $160K. Asking price is $169K and was $189 last Oct. We'll see what happens. 1600 sq. ft., full basement (my requirement as it can be utilized as safe room/fallout shelter) though only .38 acre (not much gardening space).
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Old February 17th, 2009 #294
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Originally Posted by deathtozog View Post
You are likely correct, although i like the idea that we are everywhere and nowhere at the same time.
BTW, DOW took a shit today. We shall see if the PPT can bring it back up.
Yea, I may have to resort to night leafleting runs in Boise.
 
Old February 17th, 2009 #295
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Originally Posted by deathtozog View Post
Wife and I just put in an offer on a 'cheap' home. $160K. Asking price is $169K and was $189 last Oct. We'll see what happens. 1600 sq. ft., full basement (my requirement as it can be utilized as safe room/fallout shelter) though only .38 acre (not much gardening space).
I have heard down south you could get 3 times the home that you get elsewhere for the same money so for 160K it must be nice. I figured you would also insist on a farming piece of ground too.

Do you have a picture that don't give away the location?
 
Old February 17th, 2009 #296
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Originally Posted by Joe Snuffy View Post
I have heard down south you could get 3 times the home that you get elsewhere for the same money so for 160K it must be nice. I figured you would also insist on a farming piece of ground too.

Do you have a picture that don't give away the location?
Land here is 30-40K/acre! Lots of Michigan refugees/retirees, LOADS of retired jews, etc. have driven prices way, way up. I live in the NC mountains and it is pretty country here. Too bad the jews like it. It is nigh impossible for working joes like me to get anything.

A guy at work escaped Michigan. He got the same type of home here that he had in MI. He paid twice as much for a house here than what he paid in MI. I did point out that people want to live here, they don't want to live in Michigan.

No, there is not much acreage with this place but enough for me to have two gardens.

I would post a pic of the house but those crazy JDL idiots would probably try to firebomb it while my wife and kid are asleep.
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Old February 17th, 2009 #297
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The Euro is starting to stroke out, at the time of this posting it was 1,2589 to the Dollar.

http://www.ft.com/cms/s/0/06da52fe-f...077b07658.html
Quote:
Eastern Europe triggers rush for safety

Published: February 17 2009 21:58

Fears of banking turmoil in eastern Europe caused global investors to rush for safety on Tuesday, with warnings about European financial institutions provoking a stampede into the dollar and US bonds.

The turmoil was prompted by a report from Moody’s, the credit rating agency, which warned that west European banks with east European subsidiaries were at risk of downgrades. Standard & Poor’s, a Moody’s rival, later issued a similar caution.

The euro fell 1.5 per cent to a two-month low against the US dollar, sinking below $1.26 for the first time since December, and also dropped sharply against the pound and the yen, while the Polish zloty hit a five-year low against the euro. The general flight away from risky assets also hurt US stocks. Bonds rallied as investors put money into the relative safety of government debt.

The S&P 500 fell 4.6 per cent to its lowest level of the year. Bank stocks led the market lower, with Wells Fargo falling 13 per cent and JPMorgan Chase losing 12 per cent. US Treasury prices rose, with the yield on the 10-year note falling 25 basis points to 2.64 per cent.

The news came as Barack Obama, US president, signed into law the $787bn stimulus bill designed to pump demand into the US economy through tax cuts and spending increases.

“The safety trade continues, and there are very few places to hide,” said Tobias Levkovich, chief US equity strategist at Citigroup. “There are still many concerns in the market, from the disappointment with [Treasury secretary] Tim Geithner’s financial rescue plan to further poor economic data from Japan and Europe to worries about banking industry exposure to Eastern Europe to concerns about US automakers.”

Several Eastern European countries have been hit by the rapid withdrawal of foreign capital and have struggled to fund yawning current account deficits and prevent runs on their banking systems.

“This is reminiscent of the Asian crisis of 1998,” said Michael Wang, an emerging market strategist at Morgan Stanley. “We are seeing what used to happen in emerging markets, where during the years of global expansion countries borrowed heavily and built up large external imbalances, only to face downward pressure on currencies and growth once the cycle turned and foreign capital inflows dried up.”

Polish and Czech shares dropped to their lowest level in five years, while other markets in the region came under pressure. In Moscow, equity trading was temporarily suspended amid sharp price drops, provoked partly by the government cutting its 2009 economic forecast from a contraction of 0.2 per cent to one of 2.2 per cent.

Figures on Tuesday showed that foreign investors continued to pour money into the US in December, as demand for relatively safe financial assets outweighed concern about the deepening downturn in the American economy.

Foreign purchases of US securities grew to $74bn in December, up from $61.3bn the month before.
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Last edited by Hugo Böse; February 17th, 2009 at 07:37 PM.
 
Old February 17th, 2009 #298
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What a dump the Euro is taking!
\
I used to watch live Forex every night but have not done so in a while. My how things have changed over the past year.
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Old February 17th, 2009 #299
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The financial geniuses who rule this country have managed to export their handiwork to the entire globe this time.

Another benefit of 'globalization'--no one gets out alive.
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Old February 17th, 2009 #300
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Originally Posted by deathtozog View Post
I would post a pic of the house but those crazy JDL idiots would probably try to firebomb it while my wife and kid are asleep.
Given that they archive every single thing we say and do, I wouldn't even post the scenery within 5 miles or so. Err on the side of caution.
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