Mr. Sensitive

June 5, 2011

FSX Friday Update On Sunday

Filed under: Uncategorized — lbej @ 17:49

I’ll keep it short this week, not because it wasn’t an important week in the markets—I think maybe it was—but because I’m worn out from the comic convention.  The stock market tanked at the tail end of the week, leaving all three major averages down 2.3%, as every available measurement of the health of the U.S. economy continues to deteriorate.  The economy is not recovering, not in a way that improves the lot of the majority of Americans, meaning that the Fed’s great inflationary gamble is going to fail.  When the disappointing employment report hit on Friday, CNBC cut to the House Republican leadership press conference, where Boehner and Cantor called—unbelievably—for deregulation and tax cuts for corporations and the wealthy.  We should cut taxes for the people who create jobs, they said.  Holy shit, I said.  The corporatists do create jobs, it’s true—in China.  Unless we couple tax breaks with domestic hiring mandates and capital outflow restrictions, the Republican proposals will destroy the American people.  I am not overstating this.  They will gut the social safety net while continuing to outsource industrial production, increasing poverty and crime until there is no hope and no opportunity for anyone but the super-rich.  The Republicans are going straight for the amnesia vote here.  Do you remember what happened in 2008? they will ask.  Well, don’t.  Lack of public control over the riskiest and greediest corporatists nearly destroyed the American financial system, yes, but what if we pretend like it didn’t?  And the Democrats are worse than the Republicans, because how can they not be crushing these pirates 9-to-1 in every election?  Staggering ineptitude is how.  The answer is an enormous across-the-board tax increase for rich people and corporations, so that they pay to support the society that they have exploited to amass their fortunes.  So this is populism—so what?  Enough of this immoral ambivalence from Democratic politicians—the people on the other side of the aisle are the enemies of 99% of the American people and it’s time to call them out.  I want someone to campaign on a platform of taxing the bejeezus out of these corporatist bloodsuckers, no loopholes or dodges.  The honest business people won’t mind paying to support a society that they will feel good about having their children inherit, and the others can just move to China where they’ve already sent their money and their factories.  Maybe the American people won’t vote for that.  But give us a real choice, Democrats.  Damn.

That was so depressing that I can’t now go into a stock-by-stock casualty report.  The Family Stock Index was down 2.6% to 1255.32 and  19 of the 23 stocks declined.  Ugh.  I’m going to talk about the three stocks that rose (I was unch), and that’s it, and there’s nothing that anybody can do about it.  So there.

Advancers

  • Lucas (LEI) +8.8%.  Hmmm.  Big week for LEI amidst the general carnage.  Because I am a trusting soul, my first thought is that Lucas is simply excited that the summer is upon us.  My second thought, however, is that he’s up to something fun and possibly untoward…
  • Dustin (DST) +1.9%.  …and that his Dad is in on it.  Good luck, Lisa.
  • Zondro (ZRAN) +0.5%.  In a grumpy world, sometimes the only choice is between sadness and stupidity.  Guess which one Zondro chose.
Name Ticker 6/3/2011 Change
Brinkley BCO $27.73 -1.17
Charlotte ICE $115.63 -3.54
Dustin DST $48.76 +0.92
Icarus FLOW $3.59 -0.28
Jenny LEN $17.98 -0.92
Justin WOLF $2.95 -0.09
Katie CATY $15.25 -0.54
Lee LEE $1.16 unch
Lisa LSI $7.02 -0.29
Lucas LEI $3.08 +0.25
Lulu LULU $86.66 -3.42
Marcus MCS $10.08 -0.42
Mario T.E. PBY $13.49 -0.49
Mario T.Y. SUP $20.57 -1.21
Marisa MOLX $25.92 -1.22
Nicole B. NI $19.69 -0.55
Nicole L. COL $59.65 -0.55
Reagan REGN $58.04 -0.23
Ruby RBY $4.52 -0.32
Wilson WILC $7.31 -0.17
Winston HWD $16.39 -1.24
Zero FRZ $2.97 -0.05
Zondro ZRAN $7.88 +0.04

 

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