Financial Turmoil Abound

arakboss · Mar 31, 2023

How can you have any pudding if you don't meet your 20hrs.

Families, Older People in Every State at Risk Under Proposed SNAP Rule That Would Take Food Away for Not Meeting Work Requirements | Center on Budget and Policy Priorities

Some prominent proposals from House Republicans would harm SNAP participants by taking food away from people who can’t show every month that they meet or are exempt from new work requirements.

www.cbpp.org

arakboss · Apr 3, 2023

McDonald's temporarily shuts US offices, prepares layoff notices: report

According to a recent report from the Wall Street Journal, McDonald's Corp is temporarily closing its U.S. offices this week as it prepares to inform corporate employees about layoffs.

www.foxbusiness.com

made in china · Apr 3, 2023

arakboss said:
McDonald's temporarily shuts US offices, prepares layoff notices: report

According to a recent report from the Wall Street Journal, McDonald's Corp is temporarily closing its U.S. offices this week as it prepares to inform corporate employees about layoffs.

www.foxbusiness.com

Huh, that's surprising. Something's off the rails at McD's.... I went there last week just to grab a quick bite, ordered an entirely ordinary looking chicken sandwich, not paying attention to the price (they have those spastic LCD menu displays now, hard to follow) and realized I just paid $6.99 for a below average chicken sandwich. I felt like an idiot.

McDonald's has become every bit as expensive as a decent local restaurant. I'm out!

Mikej · Apr 3, 2023

made in china said:
Huh, that's surprising. Something's off the rails at McD's.... I went there last week just to grab a quick bite, ordered an entirely ordinary looking chicken sandwich, not paying attention to the price (they have those spastic LCD menu displays now, hard to follow) and realized I just paid $6.99 for a below average chicken sandwich. I felt like an idiot.

McDonald's has become every bit as expensive as a decent local restaurant. I'm out!

It amazes me that they can charge $4.47 for a Big Mac! No, amazing is that people will pay it. Lucky for me/us, I/we don't have the apatite we did 20 years ago. McD's is the only fast food place we eat. Once a week usually. I'm so disgusted by my last food from some of them. Carl's, Jack, The King. spendy and quality is like a spin of the wheel. ALL we ever get at McD's is large fries, $1.00 with the app, to share, and two Mc Doubles. That's right around $5.00. Take our own energy drink, or add $1.00 soda.

arakboss · Apr 3, 2023

Social Security cuts could be coming soon — here's who will be affected

Social Security funds face a long-term financial crunch that could mean some benefits get cut sooner for retirees, according to a recent government report.

www.foxbusiness.com

CamoDeafie · Apr 3, 2023

arakboss said:
Social Security cuts could be coming soon — here's who will be affected

Social Security funds face a long-term financial crunch that could mean some benefits get cut sooner for retirees, according to a recent government report.

www.foxbusiness.com

Surprised I am not. Wanna bet that they'll cut only the oldest, least likely to "contribute" to society, "waste of resources" retirees and not the younger disabled/"disabled" and welfare queens/kings taking full advantage of everyrhing....because we know exactly how one group tends to vote

arakboss · Apr 6, 2023

https://www.cnn.com/2023/04/06/business/non-banks-shadow-banks-risks-explainer/index.html

arakboss · Apr 22, 2023

The Western housing market recession hit so hard and fast that a Fortune 500 firm that was riding high at $34 per share has crashed to $1 | Fortune

"They [Opendoor] are taking huge losses, and as buying agents, we are all testing their pain threshold" says Chris Davis, a real estate agent in Phoenix.

fortune.com

bolus · May 3, 2023

More good data:

FDIC: Bank Failures in Brief

From 2008 to 2011:

414 banks failed to a total loss of $677,024,400,000.00. That's $1,635,324,637.68 per bank

2023

3 banks failed for a total loss of $548,500,000,000.00. That's $182,833,333,333.33 per bank.

Projected loss if 411 more banks fail in the next 3 years? $75,144,500,000,000.00

That's 280% of our yearly GDP.

I wonder how you bail out banks that lose more than our yearly GDP every year? Money printer?

made in china · May 3, 2023

Provincial · May 3, 2023

bolus said:
More good data:

FDIC: Bank Failures in Brief

From 2008 to 2011:

414 banks failed to a total loss of $677,024,400,000.00. That's $1,635,324,637.68 per bank

2023

3 banks failed for a total loss of $548,500,000,000.00. That's $182,833,333,333.33 per bank.

Projected loss if 411 more banks fail in the next 3 years? $75,144,500,000,000.00

That's 280% of our yearly GDP.

I wonder how you bail out banks that lose more than our yearly GDP every year? Money printer?

To adjust for inflation, the $250,000 FDIC coverage instituted n 2008 would have to be raised to $347,000. And that is using the "official" inflation rate, when the real rate is much higher.

arakboss · May 4, 2023

Provincial said:
To adjust for inflation, the $250,000 FDIC coverage instituted n 2008 would have to be raised to $347,000. And that is using the "official" inflation rate, when the real rate is much higher.

It appears they did better than 347k, as they covered deposits in the million dollar range at SVB.

Provincial · May 4, 2023

arakboss said:
It appears they did better than 347k, as they covered deposits in the million dollar range at SVB.

Equity.

You can't treat everybody the same. Especially your donating class.

bolus · May 6, 2023

Witness some big league crime in action.

As many may know, Bed Bath and Beyond is in bankruptcy. Like a long list of brick and mortar stores before it like sears, ToysRus, circuit city, etc, it was killed on purpose using counterfeit shares. Illegal naked shorting going on unchecked for decades.

This time though, a bunch of more educated people were watching and its not as easy for them to sweep it under the rug.

Files were publicly released in bankruptcy court and as a part of this, all the stock owners have to be listed.

You can see one page of the court docs below and you can noticed that Cede and Co is holding +776 million shares of common stock. Cede and Co is the crime organization that is at the center of the US financial markets. They own 99% of all the stock in the US. The shares you may have at a broker are "beneficially owned shares" which means Cede & Co is on record as the owner and you have an agreement with your broker to pretend to own those shares.

The problem here is that 776+ million shares are more than BBBY's total shares in existence. Not to mention all the other shares on this list. More shares than should exist means straight up counterfeits, sold on the market to drive down the price of the company to kill it (if they kill it, they dont pay taxes on those sold counterfeit shares and dont have to prove that they owned anything - 100% illegal profit)

There you go. proof in writing once again that the market is flooded with counterfeit shares, the SEC knows, the politicians know, everyone knows. its all fraud. They are stealing from everyone. Just remember this when one of these hedge fund owned media outlets "explains" why this isnt bad.

bolus · May 9, 2023

More good news.

Remember when the Fed decided this data looked so bad they were going to stop publishing it? Commercial banks unrealized losses at $90 billion March of 22.

Well for some reason they decided to give update over a year later. 722 banks with unrealized losses exceeding 50% of their capital and 31 banks with negative tangible equity.

If you are keeping track, the plan is still either save the banks or stop inflation. We get one.... may be....

bolus · May 13, 2023

I know I tend to be a bit negative on the direction of the economy. So from now on I'm just going to post good news:

April adds 54 more US corporate bankruptcies; 2023 filings highest since 2010

Monthly filings slowed from March, though the pace was still quicker than much of 2021 and 2022.

www.spglobal.com

oh wait, may be that's not as good as I originally thought. Let me look harder.

bolus · May 17, 2023

bolus said:
I would not blame the politicians. they are part of the problem but they are simply bought out by the rich just making it sure that they can get richer. 2008 never stopped. All the crime and risky actions by the financial institutions in 2008 never stopped and have grown an order of magnitude greater. There are estimated to be over $1 quadrillion in derivatives now (global GDP is $96 trillion) so that means banks are leveraged to the equivalent of 15 years of global production.

Just like the subprime morgage crisis in 2008, people were making money hand over fist for years before the crash because no one seemed to understand they were all garbage while being rated highly by the rating agencies.

Since 2008 there has been an exansion of every possible financial crime. Banks over leveraging, massive counterfieting of stocks through naked shorts, ETF's, market makers and their legal "infinite liquidity," among many other methods. Financial institutions are stealing from everyone in the market (retirements, pensions, trading accounts, etc) with payment for order flow, internalizing orders, 97% of retail trades never seeing a lit market, darkpools, OTC pools and then a whole list of different methods they use to gain advantage. They have killed so many companies through naked shorting and cellar boxing strategies we've lost count.

No just look at the effect of one stock. Back in 2021 gamestop squeezed. Some numbers put the short interest over 300% before the squeeze. Those numbers are self reported so the amount of naked shorts (counterfeit shares sold) might be in the 1000% or more. They paid all the media to say they covered but they didnt and the SEC stated so in their gamestop report. So millions or billions of counterfeit shares are still out there. A bunch of retail investors said "screw them, we are not selling" and now 60%+ of the float is direct registered in their names and not available to the brokers to manipualte them.

So what has happened in 2 years in this standoff? Melvin Capital died. They were short and though they said they closed their position they obviously didnt because they are dead. Archegos did the same thing, Except instead of closing they hid their shorts in a swap (good for 2 years) but then they still died. Who financed that swap? Credit Suisse. Credit Suisse couldnt close and despite billions and billions of influx from the fed and other banks, they just died. UBS is now holding their bag. The only way UBS agreed to buy them if the central bank put up a 100 billion loan. If they could have closed they would have. now 10 central banks are printing liquidity into the system because of this. This is an exact definition of a contagion in the financial markets.

Now this is just one tiny thread with one stock of the big issue. This is one bag killing one financial institution after another and now central banks are bailing it all out. There are thousands of financial crime bags just like this one. All over leverged with naked shorts in a global conspiracy.

We are watching a firecracker go off with this line of banks now just killing credit suisse but in reality we are sitting on a nuclear bomb with the exact same problem. 200+ other banks are currently worse off than credit suisse. Can we bail them all out.

I honestly hope it does not go off but if you read the signs it looks scary as hell right now out there. One more little spark and it all goes off.

Sorry for the lack of sunshine.....

Update to the contagion. Achegos died -> Credit suisse got their bags, died -> UBS got their bags.

UBS says it was rushed into unwanted Credit Suisse rescue merger

UBS Group AG was rushed into buying cross-town rival Credit Suisse Group AG in a deal it did not want, as a global bank crisis worsened the latter's finances and prompted authorities to take swift action, a regulatory filing showed.

www.reuters.com

So they must have finally looked at what was in their bags

Also, if you need insurance for your debt in case you lose everything and sell that insurance (Credit Defalt Swap) the regulators got you if you fail.

Credit Suisse bond wipe-out will not trigger credit insurance payout

Holders of credit insurance linked to Credit Suisse bonds will not get a payout after a committee that adjudicates on disputes in the derivatives market said on Wednesday the bank's state-engineered merger with UBS was not a credit event.

www.reuters.com