We've Turned The Corner?
Shhhh don’t tell anyone…
The California budget deficit just grew another $3.4 Billion by missing yesterdays budget deadline and issuing IOU’s good until Oct 1st…
Can you say FURLOUGH???
California Governor Arnold Schwarzenegger said he’ll force state workers to take a third unpaid day off every month...
to conserve cash and will order lawmakers into an emergency session to tackle the state’s growing budget deficit.
Double Digits Anyone? June Non Farm Payrolls -467K jobs, unemployment “officially” at 9.5%.... we will be at 12% by year end.
Bottom?? The peak of the interest- rate resets on adjustable-rate mortgages won’t hit until 2011.
It’s a dead cat… this quarters stock market rally, and the reason why?
The stated book values vs the stock prices (which is a measure of TRUST) are way out of line….
As of June 30, there were 336 U.S.-listed financial companies trading for less than 60% of their book value...
including Citigroup, SunTrust Banks.and Marshall & Ilsley…
Just a few… Colonial BancGroup., with $26.4 billion of “assets”, is down to a $126 million market cap, or 10% of its book value.
Citizens Republic Bancorp, with $13 billion of “assets”, has a $91 million market value, or 7% of book.
Guaranty Financial Group, with $15.4 billion of “assets”, this week said it may not survive and that it may revise its 2008 net loss to $2.2 billion from $444 million.
Yeah, the economy has turned the corner, flipped over three times, struck a tree and burst into flames…
The California budget deficit just grew another $3.4 Billion by missing yesterdays budget deadline and issuing IOU’s good until Oct 1st…
Can you say FURLOUGH???
California Governor Arnold Schwarzenegger said he’ll force state workers to take a third unpaid day off every month...
to conserve cash and will order lawmakers into an emergency session to tackle the state’s growing budget deficit.
Double Digits Anyone? June Non Farm Payrolls -467K jobs, unemployment “officially” at 9.5%.... we will be at 12% by year end.
Bottom?? The peak of the interest- rate resets on adjustable-rate mortgages won’t hit until 2011.
It’s a dead cat… this quarters stock market rally, and the reason why?
The stated book values vs the stock prices (which is a measure of TRUST) are way out of line….
As of June 30, there were 336 U.S.-listed financial companies trading for less than 60% of their book value...
including Citigroup, SunTrust Banks.and Marshall & Ilsley…
Just a few… Colonial BancGroup., with $26.4 billion of “assets”, is down to a $126 million market cap, or 10% of its book value.
Citizens Republic Bancorp, with $13 billion of “assets”, has a $91 million market value, or 7% of book.
Guaranty Financial Group, with $15.4 billion of “assets”, this week said it may not survive and that it may revise its 2008 net loss to $2.2 billion from $444 million.
Yeah, the economy has turned the corner, flipped over three times, struck a tree and burst into flames…
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