Geithner: Growth resuming but risks ahead- Reuters

[Neubarth]

Geitner was used by the Obama Administration to move the market today. As soon as I saw the quote, I sold my short position and waited to see how effective the "distortion" would be.

Did you guys see the headlines today?

Geithner: Growth resuming but risks ahead- Reuters

Our Treasury secretary is taking profound liberties with the truth. The growth is not resuming. There is no indication of that.

We are still falling and falling and falling.

 

[Neubarth]

The administration is doing everything possible to keep the stock market from falling. The unemployment reports are horribly corrupt and not even in the least realistic. The public pronouncements by DOL and Geitner and various other prominent people are used to try to get the gullible public to pump more money into the Mutual Funds rather than in the bond funds in their 401K's. With the economy slumping so bad, I am left to speculate on why Obama and his minions want to keep the stock market at such a tremendous high as opposed to current earnings.

The only thing that I can come up with is that they want certain entities to profit at the expense of the investing public. Like a tax that is not a tax, when the mutual funds fall 30 or 40%, that money does not evaporate into thin air. It is grabbed by those people / institutions that are astute enough to be short the market.

Is Obama selling out the richer Americans so financial institutions can short the market and take the fools money, just like in September to March? Very few of the richer Americans vote for Obama and his party, so the possibility existsthat this is a new Democratic "Fleece the Rich" policy. If he gets away with it for a second time, we need to take it to the streets. Massive corruption of this nature should not be allowed to stand without standing trial.

 

[wimpy77]

the market didn't really move until meredith whitney moved goldman's position from neutral to buy. after that the finanicials moved up like lightning.

 

[eagleseven]

 

[Missourian]

ATA reports truck tonnage index is up slightly

Jeff Berman, Group News Editor -- Logistics Management, 6/29/2009

ARLINGTON, Va.—(the good) Following two months of declines, the American Trucking Associations (ATA) reported that its tonnage index inched up in May. Despite the gain, ATA officials made it clear there is still a ways to go before a freight recovery truly takes place.


The ATA said that its advanced seasonally adjusted For-Hire Truck Tonnage Index was up 3.2 percent in May for the first time since February, following 2.2 percent and 4.5 percent declines in April and March, respectively. To begin 2009, the index had a promising start, with a 4.5 percent cumulative gain in January and February.


The uptick in the ATA’s advanced seasonally adjusted For-Hire Truck Tonnage Index brought the seasonally-adjusted index up to 102.3 (2000=100), (the bad) but ATA officials said it was not enough to compensate for the cumulative 6.7 percent decline from March and April. In March the index was 101.4, which at that time was the lowest level it had seen since March 2002.


And its not seasonally adjusted (NSA) index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, was up 102, a gain of 0.4 percent from April. April’s NSA was 101.6.

(And the ugly) On a year-over-year basis, tonnage was down 11 percent in May, marking the best year-over-year effort in three months, said the ATA. Although the decline was better than April’s 13.2 percent decline, ATA officials said May’s decrease is still historically huge.

Trucking news: ATA reports truck tonnage index is up slightly - 6/29/2009 - Logistics Management