percentage of recent losses for various corporation nationwide.
These are deep losses with the leaders being Freddie and Fanny along with
Washington Mutual and Countrywide. Also the home builders which are just
going straight to the sewage plant. No bailing by the government expected
there.
The DOW industrials went down 230 yesterday and will probably go up this
morn and then sell off this afternoon.
The Arabs are buying a chunk of citigroup while citigroup is planning a
45,000 layoff.
The Arabs see it as junk money at this point since the dollar continues to
drop. It's around 75 and headed for 74 on the currency basket. Yes, you are
right it was above 80 a few weeks back.
The way it's going not even China Mart will be taking the buck soon.
What's going to happen? We'll one plan they are thinking of is the AMERCO
(though i may have the spelling wrong) which is a plan to combine Canada's,
U.S. and Mexican internal currency's in to a new paper world.
Who will come out on top on this one? We'll it will not be the people (who
are actually seen as the consumers) of the three countries.
They recently opened the three border to truck traffic and we didn't hear a
peep from anyone so this 'money' scam looks like a shoo in to me.
California has a 10 billon dollar budget short fall. Something like what
gave Gray Davis his walking papers. But Arny has no worries as the public
just wants a strong man even if he is terminating the state.
See the local north state R-E news featured on the front page of the
Chronicle below.
Remember the story this wouldn't happen in the bay area as this was
something that would occur in the long valley suburbs. We'll it's only begun
and even if you are a renter or have a fixed mortgage it may still take a
swipe at you if the owner of the house/condo you are renting has a sub
mortgage or you might need or want to sell your own cozy as a falling tide
also takes all ships to the bottom.
http://www.sfgate.com/cgi-bin
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