$$$$ MORE BAD NEWS
SEPTEMBER 4, 2008
As we come up to the present, as the Sun came up to 12 degrees
of Virgo (the sign of work) to conjoin the business planet of
Saturn on September 4th, the Dow plunged more than 340 points in
a selloff underpinned by disappointing economic news and lackluster sales reports from retailers; the news drove home to investors that the economy was more troubled than many had thought. For the week, the Dow lost 2.8 percent, its fourth straight week of losses and the biggest drop since late June.
Then as the transiting Sun moved up to 14 degrees of Virgo to square retrograde U.S. Uranus at 14 Gemini 05 in the domestic 4th house, another important event took place. The dual sign of Gemini is on the natal U.S. 5th house cusp (speculation), and late Friday night on the 5th, it was decided in Washington that the government would have to make a historic move and takeover the huge twin mortgage companies of Fannie Mae and Freddie Mac. This was announced Saturday morning as the Sun exactly came up 14 Virgo, which has enormous implications for taxpayers and the economy. Fannie Mae and Freddie Mac together hold or back half of the nation's mortgage debt, and have played an increasingly important role in the real estate market since the credit crisis started in August 2007. A government bailout could cost taxpayers around $25 billion, according to the Congressional Budget Office. Treasury Secretary Henry Paulson and two other regulators are working on a plan to put the troubled mortgage finance companies into a conservatorship, and remove Fannie Mae CEO Daniel Mudd and Freddie Mac CEO Richard Syron, according to Rep. Barney Frank, D-Mass., the chairman of the House Financial Services Committee.
At the same time, on Saturday, (September 6th) with the square of U.S. Uranus (airplanes) coincided with Boeing machinists taking to the picket line as they launched a strike that has halted production and could cost the U.S. aerospace giant more than 100 million dollars per day. Boeing's 27,000 machinists, who represent 16 percent of the company's workforce, began picketing in the wee hours of the morning (as the square aspect became direct) shortly after the failure of last-ditch contract talks.
Looking at few other aspects in the U.S. chart that added their influences to the bad economic news then are also notable. Transiting stationing retrograde Jupiter at 12 Capricorn 33 ( the business sign) conjoined natal U.S. Mars at that degree which of course opposed the progressed U.S. Sun at 12 Cancer 30. Added to that was transiting Mars at 11 Libra (unions) which turned the opposition into a T-square; taking in the U.S. nodes at 11 Cancer 11and Capricorn respectively also. So on Friday with that T-square operating, the Labor Department reported that the unemployment rate jumped to a five-year high of 6.1% in August, far exceeding economistsâ expectations that it would inch higher to 5.8%.
It was also reported that employers shed 84,000 non-farm jobs, exceeding the consensus estimate that the economy would lose 75,000 jobs. Job losses were widespread, as the manufacturing, services and construction sectors were slammed. Particularly damaged was the auto industry, which lost 39,000 jobs in manufacturing and 14,000 jobs in retailing.
Finally, progressed U.S. Venus at 9 Leo 12 in the 6th house has been moving up to square natal Mercury at 9 Scorpio 43 in the 8th house of banking. This also ties into the previous banking problems we have already seen this year when Venus squared natal U.S. Saturn in the 8th house of banking. Also on Saturday, it was announced today that the subsidiary of Silver State Bank, Nevada State Bank has acquired the insured deposits of failed Henderson, Nevada-based Silver State Bank. The State of Nevada, Financial Institutions Division found that Silver State Bank was unable to meet the demands of its depositors in the ordinary course of its business. The transaction includes insured deposits of more than $800 million. All former branches of Silver State Bank will open Monday morning as branches of either Nevada State Bank or National Bank of Arizona, subsidiaries of Zions. Silver State Bank operated 13 full service branches in southern Nevada, which will become part of Nevada State Bank, and four full service branches in the Phoenix/Scottsdale, Arizona area, which will become part of National Bank of Arizona. The FDIC will retain most of Silver State's loan portfolio. I expect more banks to fail as Venus moves up to exactly square U.S. natal Mercury next February. And besides that, Mercury rules the 5th house of speculation, so I have to wonder if the stock market might be impacted at the same time.
Another tie in with this aspect with the sign of Leo being involved brings to mind the case of the missing little Caylee Anthony; who is/ was an adorable little Leo herself. Hopefully it won't take until next February to find out what actually happened to her, and resolve this case!
Another important aspect is coming up this month on the 20th and 21st as the Sun moves up to 26 - 28 Virgo to conjoin natal and progressed U.S. Neptune in the 7th house at those degrees and go on to form a T-square to transiting Pluto (stationing to go direct now) at 28 Sagittarius 30 and the progressed U.S. nodes at 28 degrees and 57 minutes of Sagittarius (world wide) and Gemini (communication) respectively. It is interesting that the first debate between McCain and Obama will take place on the 26th; so perhaps there is some connection to that event!