STOCK MARKET WATCH - Tuesday, 21 February 2012

[Tansy_Gold]

[font size=3]STOCK MARKET WATCH, Tuesday, 21 February 2012[font color=black][/font]

SMW for 20 February 2012

AT THE CLOSING BELL ON 17 February 2012
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Dow Jones 12,949.87 +45.79 (0.35%)
S&P 500 1,361.23 +3.19 (0.23%)
[font color=red]Nasdaq 2,951.78 -8.07 (-0.27%)


[font color=green]10 Year 2.00% -0.02 (-0.99%)
30 Year 3.14% -0.02 (-0.63%) [font color=black]




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[font size=2]Market Conditions During Trading Hours[/font]
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[font size=2]Euro, Yen, Loonie, Silver and Gold[center]

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[font color=black][font size=2]Handy Links - Market Data and News:[/font][/font]
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Economic Calendar
Marketwatch Data
Bloomberg Economic News
Yahoo Finance
Google Finance
Bank Tracker
Credit Union Tracker
Daily Job Cuts
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[font color=black][font size=2]Handy Links - Economic Blogs:[/font][/font]
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The Big Picture
Financial Sense
Calculated Risk
Naked Capitalism
Credit Writedowns
Brad DeLong
Bonddad
Atrios
goldmansachs666
The Stand-Up Economist
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[font color=black][font size=2]Handy Links - Government Issues:[/font][/font]
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LegitGov
Open Government
Earmark Database
USA spending.gov
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[font color=black][font size=2]Handy Links - Videos:[/font][/font]
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Charlie Rose talks with Roubini
Charlie Rose talks with Krugman
William Black: This Economic Disaster
Bill Moyers with Kevin Drum and David Corn
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Financial Sector Officials Convicted since 1/20/09 = [/font][font color=red]12[/font]
2/2/12 David Higgs and Salmaan Siddiqui, Credit Suisse, plead guilty to conspiracy involving valuation of MBS



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[font size=3][font color=red]This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.[/font][/font][/font color=red][font color=black]

[westerebus]

1. Madame, Your signature is NOT a requirement.

"Truth in lending" is all an act and has reached a paradox to become "the bending of truth".

[Fuddnik]

2. The jokes not on Poland. With bonus Polack joke!

http://www.theautomaticearth.org/Finance/the-jokes-not-on-poland.html


The Joke's Not On Poland
TUESDAY, FEBRUARY 14, 2012 12:10 PM



Most people have heard some variant of the joke – "What do you do if a Pole throws a grenade at you? Pull the pin and throw it back!" Actually, the much more disparaging term “Polack” is typically used, and these jokes were unfortunately spread by Nazi Germany as a part of its ruthless propaganda campaign against those it oppressed in occupied countries. Well, the Polish people may be the butt of a lot of ill-conceived American jokes, but at least they have been wise enough not to jump aboard a sinking [or sunk] ship.

According to a recent poll, about 60% of the Polish people are now against joining the neo-feudal European Monetary Union, despite the constant propaganda campaign that has been waged over the last decade, telling them that it’s in their best interest. These high levels of public opposition have forced Polish politicians to continue pushing out plans of joining the currency union into the future. The Guardian reports on the results of latest poll out of Poland’s Public Opinion Research Center (CBOS).

[Demeter]

5. Considering the Treatment Poland Has Suffered at European Hands

all the way back to at least 900 AD, I'm surprised the the whole nation hasn't demanded political asylum from the continent of Europe, let alone all the governments, ESPECIALLY Germany. They had the pleasure of being absorbed by: Sweden, Prussia, Austria-Hungary, Russia, and Nazi Germany and haven't forgotten. Been there, done that, still survived.

All my ancestors fled, and as many of their friends and family as could manage, and that was before Poland was reconstituted as a separate nation after WWI.

[Tansy_Gold]

8. Ditto, ditto, and ditto.

Except I think some of my distant relatives are still there.

[Demeter]

18. I had third cousins there in 1970's

but no idea of where or whom...it's too distant now.

[hamerfan]

3. Greece to get 130 billion euro bailout

Eurozone finance ministers have agreed a second bailout for Greece after marathon talks in Brussels.

Greece is to receive loans worth more than 130bn euros (£110bn; $170bn).

In return, Greece will undertake to reduce its debts to 120.5% of its GDP by 2020 and accept an "enhanced and permanent" presence of EU monitors to oversee economic management.

Greece needs the funds to avoid bankruptcy on 20 March, when maturing loans must be repaid.


http://www.bbc.co.uk/news/world-europe-17109044

[DemReadingDU]

4. Karl Denninger says "Not gonna happen"

2/20/12@ 22:07
FLASH: Greece Deal Supposedly Made

Supposedly €130 billion and allegedly will get debt-to-GDP to 120% by 2020.

Not gonna happen folks. This is basically the same deal originally talked about last year and the problem is that it doesn't account for the contraction in GDP when the deficit spending ends, nor the impact on tax receipts.

This may get them through the March date (they'll just suck down the funds and prevent a blowup on the imminent roll) but this is entirely insufficient as there are still the issues surrounding the banks and the pass-through effects are not accounted for.

More as I learn it, but my first blush is that while the reflexive move is northbound on the Euro and the incipient dump in the futures was arrested, people need to think this one though before breaking out the party hats.

http://market-ticker.org/akcs-www?post=202324

[Demeter]

11. Eurozone strikes €130bn Greek bailout deal

Eurozone finance ministers reached a long-delayed €130bn second bail-out for Greece after strong-arming private holders of Greek bonds to take even deeper losses than they had agreed last month.

According to European diplomats, the German and Dutch finance ministers pushed for further “haircuts” after a confidential debt analysis showed that the previously-negotiated deal would cost €136bn and would only lower Greek debt to 129 per cent, rather than 120 per cent, of economic output by 2020.

Read more >>
http://link.ft.com/r/YIQXNN/62SIHF/DXJ2Y/IIN83B/PFVCA0/36/t?a1=2012&a2=2&a3=20


ABSURDITY AS AN EXERCISE PLAN

[Demeter]

12. The A-List: Howard Davies - Long odds on a happy ending to the Greek story

We are now in territory where the markets have no particular wisdom. They cannot begin to answer the three outstanding questions, which will determine whether the Greek bail-out deal struck on Tuesday is a turning point or yet another false dawn on the slippery slope to default and “Grexit”, an ugly but vivid term coined by Willem Buiter of Citigroup.


Read more >>
http://link.ft.com/r/NA70KK/IIBH72/IEP5S/SP85BF/FKLBB0/4O/t?a1=2012&a2=2&a3=21

[Demeter]

13. The A-List: Stephen King - Time for a theory of eurozone relativity

If adjustment in the eurozone is to take place via shifts in competitiveness, it follows not only that the real exchange rates of southern Europe should decline, but also that the real exchange rates of northern Europe should rise. We are back to the need for different inflation rates in the north and south.
Read more >>

http://link.ft.com/r/0QSDPP/VL520N/3CWTA/IINBG8/8ZRSC7/LE/t?a1=2012&a2=2&a3=20

[Demeter]

20. MORE GREEK SNIPPITS

Greek indignation threatens to spread

Even if Athens clears this latest financing hurdle, the damage done by outsiders dictating terms to a sovereign government may be irreversible

Read more >>
http://link.ft.com/r/M2ZOXX/R3A8JQ/VTVRG/GDRP12/DWUJG6/LE/t?a1=2012&a2=2&a3=20

Eurozone seeks central banks’ help in Greek bail-out

Eurozone governments are looking to the ECB and national central banks to help pare back the cost of a second rescue package for Greece

Read more >>
http://link.ft.com/r/M2ZOXX/R3A8JQ/VTVRG/GDRP12/30EWFS/LE/t?a1=2012&a2=2&a3=20

[Roland99]

35. Summarizing The Open Questions Surrounding The Second Greek Bailout

http://www.zerohedge.com/news/summarizing-open-questions-surrounding-second-greek-bailout

...

Greater losses for private sector bondholders: Reports suggest the Greek government was sent back to the negotiating table with bondholders at least four times during last night’s meeting. Nominal write downs for bond holders now top 53.5% (or around 74% net present value). The leaked Greek debt sustainability analysis (DSA) assumes a participation rate of 95%.

Open Europe take: 95%, really? We weren’t convinced the previous threshold of 90% with a lower write down would be reached and that was while potential ECB participation was still on the table. Although this target may have been agreed with the lead negotiators for the private sector, it is far from a cohesive group, diminishing the value of the agreement. It will be interesting to see how bondholders respond to the plan but we think that hold outs could well be more than 5%.

Greek ‘prior actions’: The deal includes a list of requirements which Greece must meet in the next week to get final approval for the bailout. These include: passing a supplementary budget with €3.3bn in cuts this year, cuts to minimum wage, increase labour market flexibility and reforms opening up numerous professions to greater competition.

Open Europe take: The now infamous €325m in cuts still needs to be specified. The huge adjustments to labour markets and protected professions mark a cultural shift in Greece – pushing these through will not be painless and could result in further riots.

...

[Roland99]

36. For Greece, "Tomorrow" Has Arrived

http://www.zerohedge.com/news/greece-tomorrow-has-arrived

The Smoke and Mirrors

The IMF has not yet stated what its contribution will be to Greece and will not, they tell us, until the middle of March so that we will not know until then the real size of the bailout. The much promoted $176Bn bailout may not be accurate if the IMF pulls back on their allocation.

The projections for the growth of Greece, even in the leaked document provided by Reuters, utilize assumptions that will not be met, which has been the case every time, each time, for the last two years so that fuzzy math is being touted once again and the new/new projections will, in my opinion, come nowhere close to the truth.

The IIF agreed to further cuts last night for private investors, which no one but they have agreed to, so that shortly we will see how many institutions go along with the scheme and how many will sue as a result of the forced haircut that cuts about 74% from Net Present Value. We will also see law suits in London concerning the $18Bn of Greek debt that is governed under British law which may have quite interesting results. The Troika’s projections rest upon a 95% participation by private investors and I think they are living in a dream state if this is their expectation. In a Reuter’s article this morning they report: "The 32 members of the IIF's larger creditors' committee had a least 44 billion in euros in residual holdings.” If this is correct then the IIF is only representing 12.2% of the Greek bondholders.

The ECB has swapped their bonds with Greece and taken a senior position to private bond holders clearly indicating that they can swap their bonds with a sovereign nation to change any clause they do not like and if they can do it with Greece they obviously can do it with any other nation so that we will soon see law suits challenging this operation. We may also see, as a result of this, some institutions not subject to European manipulation, selling their positions as they do not wish to be subordinated to the whims of the ECB. I would also make note that the ratings agencies may take due note of this action and might reduce the ratings of all of the sovereign nations in Europe based upon this action. In evaluating a sovereign there is credit risk and political risk and I assert that the political risk has now been greatly magnified.

...

Greece will shortly be placed into “Default” by S&P and Fitch which will trigger default language in all kinds of securitizations including Greece’s $90Bn in derivatives and may cause disgorgement from accounts that are forbidden to hold defaulted bonds.

[Demeter]

53. Germany drawing up plans for Greece to leave the euro

http://www.telegraph.co.uk/finance/financialcrisis/9091021/Germany-drawing-up-plans-for-Greece-to-leave-the-euro.html

[Roland99]

62. Schäuble is apparently one of the few realists over there.

[Demeter]

63. Or maybe, just the only one "not on the take"

[Roland99]

65. hope he doesn't fly any time soon...

in fact, he might want to consider traveling in an armored tank only.

[bread_and_roses]

6. ""no choice but to take dramatic action to avert a collapse of civilization...

http://www.commondreams.org/headline/2012/02/20-5

'Perpetual Growth Myth' Leading World to Meltdown: Experts
UN-Sponsored Papers Predict Sustained Ecological and Social Meltdown

... a new paper released today by 20 past winners of the Blue Planet Prize - often called the Nobel Prize for the environment...

...The Guardian's John Vidal reports:

In the face of an "absolutely unprecedented emergency", say the [...] past winners of the Blue Planet prize – the unofficial Nobel for the environment – society has "no choice but to take dramatic action to avert a collapse of civilization. Either we will change our ways and build an entirely new kind of global society, or they will be changed for us".

We know it. We know it in our bones.

A few of the comments after are interesting. Refreshing at least to read comments totally absent any facile "vote for so-and-so" to save us!

[xchrom]

7. good morning...

[Demeter]

9. Morning, X

All last night I had nightmares about my cell phone gone missing...when it's the washer that's AWOL. I'm up now, anticipating the torture of the repairman's bill. And the accumulated laundry to do, if it can in fact be repaired today...
Not a happy camper. Perhaps it will get better...

[xchrom]

16. i hate repair bills.

they're always more than i think they should be.

then i wonder -- should i have gotten a new one?

[Demeter]

42. It's Seriously Snowing, and Sticking, Out There

at a rapid rate of accumulation....

[xchrom]

45. well that won't make things any easier.

sending good thoughts your way.

[Fuddnik]

60. That's even worse than the cell phone in the washer.

That's where my fathers wound up back in October, when he had his departure from reality. I searched that house, inside and out for 3 days looking for the thing.

There are a couple of websites that are pretty good at analyzing problems with appliances, telling you good places to get replacement parts, with step-by step instructions on how to resolve/fix it.

A couple of months back, our dryer kept shutting down. It would run for about 15 seconds, stop and give an error message, (E10). I googled "Westinghouse dryer e10 error message". A couple of seconds later, it brought me up to a discussion board on "HowTo.com), and the most likely explanation was a problem with the control panel, and gave a few solutions of how to fix it. If none of those worked, the panel circuit had to be replaced. I had to replace it. The panel cost $80, but with step by step instructions on the website, it was easy to fix, it saved me about $200 for a repairman, and the only tool I needed was a phillips head screwdriver.

It's still working 8 months later. And I'm not a handyman by any means.

[Demeter]

64. My Washer Works Again

For $78 bucks the repair guy tapped the water level sensor, ran the diagnostics, and it appears it was a sticky water level pressure sensor....so now I know (maybe) how to forestall another $78. charge....

But really, there is no reason for low tech reliable daily appliances to go high tech, unreliable, unfixable, throw away in 5-7 years EXCEPT GREED FOR 20% PROFIT MARGINS ANNUALLY.

THIS IS WHY MANUFACTURING HAS TO COME BACK TO THIS COUNTRY--IN THE LOW-TECH, RELIABLE FORM THAT WE GREW UP WITH, AND NOT THE MULTINATIONAL CONGLOMERATE PRIVATEERING PICK-POCKET FORMAT WE HAVE COME TO LOATHE.

I'M THINKING THAT IT WASN'T JUST UNION-BUSTING. I'M THINKING THE WORKERS REVOLTED AGAINST BUILDING CRAP THAT THEY WOULDN'T BUY FOR THEMSELVES.

For the sake of not wasting resources alone...

[Demeter]

76. And the snow has paused

have to check out rumors of more to come...

[Tansy_Gold]

15. Indeed

[xchrom]

17. isn't that lovely

[Tansy_Gold]

32. .....

You owe me a keyboard (or you would if I allowed liquids in the office), but I'll forgive you because I love the cabinets in the background!



And one of our SMWers knows a thing or two about cabinets, and Adirondack chairs, too.

[xchrom]

37. the cabinets are lovely

and that skirt is to die for...

[Tansy_Gold]

44. I used to have a bunch of those skirts

My favorites were aqua wool ones. I had two -- one with the pleats just like in that picture, the other with box pleats stitched down at the waist. Know what I mean?

Today, I can't imagine the hassle of ironing them, and I'm one of those weird creatures who actually likes to iron.




Tansy Gold, who still has one of those little plaid wool "kilts" from high school days (but certainly can't wear it!)

[xchrom]

51. i love, love, love box pleats.

i have a pair of blue summer weight wool slacks { i can't wear them any more} from thierry mugler -- i got them in the 90s.
they have box pleats. i love nice clothes -- and when they're constructed well -- oh my.

i also love box pleats on slip covers for sofas and chairs.

and like wise - i love to iron. i spend a lot of money on clothes -- and i try not to dry clean very much because it's hard on the fabrics.

[AnneD]

78. Even though I get to wear glorified jammies (scrubs) to work....

and dress rather simply-I confess I love fashion and haute couture. I use to work for an oil co. down town and you really had to dress. I scored big at the second hand shops close to the wealth areas of town. I may not sew, but I know a well constructed outfit when I see one.

I don't mind ironing for the results but being a single working mom forced me to wash and wear-but I do draw the line at ironing sheets. It is line dry solar for me.

I had to laugh at my 10 yo daughter once. I had bought some sponge rollers. When my daughter saw them she said "Cool Mom, did you know that you can put these in your hair and they will curl it" "Yes sweetheart, Mommy use to do that once before you were born. She did that back she didn't have a life."

No doubt about it, if I had ooddles of money, I would go to fashion shows and have tailor made duds. I go for classics with updated accessory, so it wouldn't cost too much. Daughter has her own fashion sense and always has. She is a bit more girlie girl-you could never have too much glitter or sparklies. When I use to pack her lunch, she would always ask me what accessories I was including with it .

[xchrom]

80. every one needs a leather clutch to go with that bologna sandwich!

i love that story -- eye roll and all.

yeah -- i have a thing for vintage to go with my new acquisitions.
it can't all be new -- then it's too stiff? or something.

vintage is harder to find for men than women -- but i don't mind the hunt.

[AnneD]

82. The proper accessory for a bologna sandwich...

is always real smoked gouda with blueplate mayo, tomatoes and red leaf lettuce to the side, homemade jello egg packed in a Spice Girl metal lunch kit for that retro look....a leather clutch is SOOO last year.

[xchrom]

83. HA! I love it. Nt

[Demeter]

66. I used to have a waist

Now I just have crises, and no tolerance (or time) for sitting around looking nice.

[Tansy_Gold]

72. I still have a waist, somewhere

but my primary concern these days is COMFORT.

I never had the money to splurge on clothes, but my mother always told me NOTHING looked good on me 'cause I'm short, so I learned not to care. Now I live in sarongs eight or nine months out of the year. If I splurge on anything, it's glorious fabrics for sarongs -- and cheap sandals with lots of big rhinestones.

How did we get on this topic anyway?

[Demeter]

75. The "x" factor

[Po_d Mainiac]

56. And fixing washing machines. n/t

[DemReadingDU]

50. ok, I give up. who is she?

I should know, but I am having a senior moment

[xchrom]

52. i think that's betty jones from mad men.

but the picture didn't come w/ details.

[DemReadingDU]

57. spouse thinks it is Angie Dickinson

[xchrom]

61. show her this

[Tansy_Gold]

70. ..........

i'm at the coffee shop so I DO have liquid near the laptop, but I was wise enough to be drinking when I opened that!

Oh, X, you are endlessly and delightfully entertaining! What would we DO without you??

[xchrom]

71. aw shucks!

[DemReadingDU]

73. Angie was so lovely!

I sometimes watched her show Police Woman

p.s.
spouse is a him, lol!
sometimes with IDs, it's really difficult to tell gender

[xchrom]

74. ...

i love confusion with a side of fabulous!

[Hotler]

89. When I was young and had a thing for older women ....

Last edited Thu Feb 23, 2012, 12:36 PM - Edit history (1)

it was with her. Angie is so hot, hotter than doughnut grease. I had a thing for a neighbor lady up the street also.

[PassingFair]

88. The lovely Betty Draper.

Or Betty Francis, now.

[Roland99]

41. Looks nicer than here but we need some rain...I'll take some clouds. BTW ....

you should switch to Firefox. More secure browser and if you use the AdBlock Plus add-on, you won't see any annoying ads and it's the *very* rare pop-up that I ever see get hidden (does a good job on its own keep those away)

[Demeter]

10. Vitol warns crude could pass $150

The world’s largest independent energy trader has warned that oil prices could surge this year to a record high due to growing geopolitical tensions in the Middle East.

Read more >>
http://link.ft.com/r/J0VG55/ZGKXON/87I64/C4QLIO/C4PLJ8/T3/t?a1=2012&a2=2&a3=21

IT'S PART OF THE PLAN (QUOTE FROM SHELLY DUVAL'S VERSION OF "PUSS IN BOOTS", THAT FAIRY TALE OF A GREAT CON GAME....RATHER LIKE WHAT'S GOING ON TODAY, AND WE THE PEOPLE ARE THE AWFUL, UGLY OGRE...

[Demeter]

19. Iran struggles to find new oil customers

Iran is rushing to find a new customer to buy a quarter of its normal oil exports as European and Asian companies stop importing from Tehran

Read more >>
http://link.ft.com/r/M2ZOXX/R3A8JQ/VTVRG/GDRP12/MSOTM6/LE/t?a1=2012&a2=2&a3=20

REPEAT AFTER ME---"OIL, LIKE MONEY, IS FUNGIBLE"

[Demeter]

25. Iran Stops Exporting Oil to U.K. Companies Alongside French Before EU Ban

http://www.bloomberg.com/news/2012-02-19/iran-stops-exporting-crude-oil-to-british-french-companies-shana-reports.html

Iran stopped sales of crude to French and British buyers to pre-empt a European Union ban on imports of its oil and as OPEC’s second-biggest producer negotiates contracts to supply China. Iran “will give its crude oil to new customers instead of French and U.K. companies,” the Shana oil ministry news website reported, citing Alireza Nikzad Rahbar, a ministry spokesman. The action may “prompt further price gains for crude,” John Caiazzo, president of Acuvest Commodity Brokers Inc. in Temecula, California, wrote in a note to clients today. France got 4 percent of its oil imports from Iran in the first half of 2011 and the U.K. 1 percent, according to the U.S. Energy Information Administration. Iran will raise crude volumes sent to China “soon,” the state Mehr news agency said Feb. 16.

The producer is suspending exports as tension rises in the Gulf over its nuclear program, sending oil prices to the highest level in nine months. The EU and U.S. have imposed additional sanctions against the country, restricting trade and financial transactions. Iran, the largest producer in the Organization of Petroleum Exporting Countries after Saudi Arabia, is also under four rounds of United Nations sanctions.

The country threatened to halt shipments to Italy, Spain, Portugal, Greece, France and the Netherlands when it summoned their ambassadors to the Foreign Ministry on Feb. 15 to protest the EU’s punitive measures, state media reported. Iran would end sales of crude to the six countries unless they agreed to long- term contracts and payment guarantees, state-run Press TV reported that day, without citing anyone....EU nations bought a combined 18 percent of Iran’s exports of crude and condensates, or 452,000 barrels a day, in the first half of 2011, according to the EIA’s most recent data. France purchased 49,000 barrels a day and the U.K. 11,000 barrels.

The EU said today its member countries are cutting oil purchases from Iran and have sufficient reserves to deal with disruptions. Some of the 27 nations, such as the U.K., Austria, Portugal, Belgium and the Netherlands, have already stopped buying and others including Italy, Spain and Greece are reducing imports, Marlene Holzner, an energy spokeswoman for the European Commission, said in an e-mailed reply to questions....

[Demeter]

34. Top Ten Ways Iran is Defying US, EU Oil Sanctions and How You are Paying for It All JUAN COLE

http://www.juancole.com/2012/02/top-ten-ways-iran-is-defying-us-eu-oil-sanctions-and-how-you-are-paying-for-it-all.html

It wasn’t supposed to be like this, the Neocons assured us. Iran would soon be on its knees because of ever more stringent US sanctions on Iran. But Iran just cheekily sent two warships through the Suez Canal to dock at the Syrian port of Tartous. The old Mubarak government in Egypt might not have allowed such a thing, but the Arab Spring has brought to power an Egyptian government eager to demonstrate its independence from Washington.

Brent crude just hit $121 dollars a barrel, the highest in 8 months and a remarkable figure in the absence of a crisis like the Libyan War (responsible for the last big spike). In part, the markets are jittery at the news that Iran is cutting off oil deliveries to the UK and France (Iranian petroleum accounts for only 1 percent of UK imports, and 4 percent of French ones). The Europeans will just find other suppliers or will end up buying Iranian oil through third parties, so the announcement isn’t that significant, but oil traders are a jittery lot. The oil sanctions plan foisted on the United States by Israel and the US Israel lobby pledged that the sanctions would not put the price of oil way up. But in fact, they have contributed to higher prices in part because of speculation on war talk.

As prices in February hit a historic high for this time of year, presaging perhaps $5 a gallon gasoline this summer in the US, Iran is still sitting pretty. The fragile European and US economies, however, may take a hit from higher transportation costs (the US will likely see a fall in summer travel and internal tourism). The same Republicans who complain that President Obama hasn’t been hard enough on Iran are cynically planning to campaign against him on his having caused higher petroleum prices, ignoring the role of sanctions on Iran and tensions with that country in the price run-up! I hate to say it but I told you so.

So what has allowed Iran to fight back against the draconian US-Israeli-European sanctions regime?

SEE LIST AT LINK

The last crackpot Neocon plan, the invasion of Iraq, ended up costing Americans about $1 trillion so far and nearly 5,000 soldiers killed. their Iran gambit looks set to triple all the costs of the Iraq fiasco, or more. Write your congressmen and put blame where it is due, on AIPAC.

[xchrom]

14. Euro Zone Agrees on 130-Billion-Euro Bailout for Greece

http://www.spiegel.de/international/europe/0,1518,816590,00.html

ts fate had been hanging in the balance for weeks. But in the early hours of Tuesday, euro-zone finance ministers approved a new, €130 billion ($172 billion) rescue package for Greece. The last-minute deal effectively saves the country from bankruptcy. Without the new loans, Greece would have been forced to default on March 20, when €14.5 billion in loans mature.

Euro Group head Jean-Claude Juncker, the prime minister of Luxembourg, announced early on Tuesday that finance ministers had reached "a far-reaching agreement" on the bailout. The deal would "secure Greece's future in the euro area," he said. The announcement came after marathon talks lasting over 12 hours in Brussels.

"It's no exaggeration to say that today is a historic day for the Greek economy," said Greek Prime Minister Lucas Papademos, who had attended the meeting. The euro leapt in value after news of the deal came out, climbing to over $1.32.

Sharing the Burden

The €130 billion package will be funded by the euro-zone members, the European Commission and the International Monetary Fund (IMF). Of that total, €100 billion will take the form of direct assistance, while the remaining €30 billion will be used to provide guarantees for new bonds for private-sector creditors.

[xchrom]

21. Wal-Mart Profit Trails Estimates as Low Prices Hurt Margins

http://www.bloomberg.com/news/2012-02-21/wal-mart-fourth-quarter-profit-trails-estimates-as-low-prices-hurt-margins.html

Wal-Mart Stores Inc. (WMT), the world’s largest retailer, reported fourth-quarter profit that trailed analysts’ estimates as an emphasis on low prices hurt margins.

Net income for the quarter ended Jan. 31 fell 15 percent to $5.16 billion, or $1.50 a share, from $6.06 billion, or $1.70, a year earlier, the Bentonville, Arkansas-based retailer said in a statement. Excluding some items, profit was $1.44, trailing the $1.45 average estimate of 24 analysts surveyed by Bloomberg.

Chief Executive Officer Mike Duke is working to contain Wal-Mart’s costs and last quarter started pulling the company’s greeters from store lobbies to help with customer-service tasks. The retailer is seeking to keep prices low as its low-income shoppers suffer from persistent unemployment.

“A large portion of Wal-Mart’s customer base remains under duress and risk of losing mid- to late-month shopping visits remain,” Bob Summers, an analyst with Susquehanna Financial Group in New York, said in a note before the results were released. Summers rates the shares “positive” and said the company’s investment in low prices may lure shoppers.



*** um -- pssst --- wal-mart business practices helps keep wal-mart customers under duress

[Demeter]

22. Investors seek hedge against euro split

Investment banks are considering creating currency products that would protect companies and investors in the event of a partial break-up of the single currency

Read more >>
http://link.ft.com/r/4RNQTT/HYHNBN/IEP5S/8ZDJH6/DWUJHU/50/t?a1=2012&a2=2&a3=20

YOU CAN RUN, BUT YOU CANNOT HIDE...

[Demeter]

23. Lloyds to claw back bonuses in wake of PPI scandal

State-backed bank to strip former directors of portion of awards the received in 2010 as punishment

Read more >>
http://link.ft.com/r/4RNQTT/HYHNBN/IEP5S/8ZDJH6/U1MCX4/50/t?a1=2012&a2=2&a3=20

[xchrom]

24. Austerity. China. The Housing Market. The Middle East.{Roubini}

http://www.slate.com/articles/business/project_syndicate/2012/02/austerity_china_the_housing_market_and_the_middle_east_four_reasons_to_stay_gloomy_about_the_economy_.html

Since late last year, a series of positive developments has boosted investor confidence and led to a sharp rally in risky assets, starting with global equities and commodities. Macroeconomic data from the United States improved; blue-chip companies in advanced economies remained highly profitable; China and emerging markets slowed only moderately; and the risk of a disorderly default and/or exit by some members of the eurozone declined.

Moreover, the European Central Bank, under its new president, Mario Draghi, appears willing to do anything necessary to reduce stress on the eurozone’s banking system and governments, as well as to lower interest rates. Central banks in both advanced and emerging economies have provided massive injections of liquidity. Volatility is down, confidence is up, and risk aversion is much lower—for now.

But at least four downside risks are likely to materialize this year, undermining global growth and eventually negatively affecting investor confidence and market valuations of risky assets.

First, the eurozone is in deep recession, especially in the periphery, but now also in the core economies, as the latest data show an output contraction in Germany and France. The credit crunch in the banking system is becoming more severe as banks deleverage by selling assets and rationing credit, exacerbating the downturn.

[Demeter]

26. Federal Reserve: Ten Things That Every American Should Know About The Fed

http://etfdailynews.com/2012/02/09/federal-reserve-ten-things-that-every-american-should-know-about-the-fed-uup-c-bac-jpm-gs-ms-wfc/

Michael Snyder: What would happen if the Federal Reserve was shut down permanently? That is a question that CNBC asked recently, but unfortunately most Americans don’t really think about the Fed much. Most Americans are content with believing that the Federal Reserve is just another stuffy government agency that sets our interest rates and that is watching out for the best interests of the American people. But that is not the case at all. The truth is that the Federal Reserve is a private banking cartel that has been designed to systematically destroy the value of our currency, drain the wealth of the American public and enslave the federal government to perpetually expanding debt. During this election year, the economy is the number one issue that voters are concerned about. But instead of endlessly blaming both political parties, the truth is that most of the blame should be placed at the feet of the Federal Reserve. The Federal Reserve has more power over the performance of the U.S. economy than anyone else does. The Federal Reserve controls the money supply, the Federal Reserve sets the interest rates and the Federal Reserve hands out bailouts to the big banks that absolutely dwarf anything that Congress ever did. If the American people are ever going to learn what is really going on with our economy, then it is absolutely imperative that they get educated about the Federal Reserve.

The following are 10 things that every American should know about the Federal Reserve….

#1 The Federal Reserve System Is A Privately Owned Banking Cartel

....Foreign governments and foreign banks do own significant ownership interests in the member banks that own the Federal Reserve system. So it would be accurate to say that the Federal Reserve is partially foreign-owned. But until the exact ownership shares of the Federal Reserve are revealed, we will never know to what extent the Fed is foreign-owned.

#2 The Federal Reserve System Is A Perpetual Debt Machine

As long as the Federal Reserve System exists, U.S. government debt will continue to go up and up and up. This runs contrary to the conventional wisdom that Democrats and Republicans would have us believe, but unfortunately it is true. The way our system works, whenever more money is created more debt is created as well...It is a debt spiral that is designed to go on perpetually....

#3 The Federal Reserve Has Destroyed More Than 96% Of The Value Of The U.S. Dollar

Did you know that the U.S. dollar has lost 96.2 percent of its value since 1900? Of course almost all of that decline has happened since the Federal Reserve was created in 1913. Because the money supply is designed to expand constantly, it is guaranteed that all of our dollars will constantly lose value...

#4 The Federal Reserve Can Bail Out Whoever It Wants To With No Accountability (AND HAS WITH GREAT ENTHUSIASM, ONE MIGHT EVEN SAY "VENGEANCE&quot

#5 The Federal Reserve Is Paying Banks Not To Lend Money

#6 The Federal Reserve Creates Artificial Economic Bubbles That Are Extremely Damaging

#7 The Federal Reserve System Is Dominated By The Big Wall Street Banks

#8 It Is Not An Accident That We Saw The Personal Income Tax And The Federal Reserve System Both Come Into Existence In 1913...Without a personal income tax, it is hard to have a central bank. It takes a lot of money to finance all of the government debt that a central banking system creates....

#9 The Current Federal Reserve Chairman, Ben Bernanke, Has A Nightmarish Track Record Of Incompetence

#10 The Federal Reserve Has Become Way Too Powerful...The Federal Reserve is the most undemocratic institution in America. OH, I DON'T KNOW, THE SUPREME COURT COULD GIVE THEM A RUN FOR THE HONOR...

***************************************************************************************

Please share this article with as many people as you can. These are things that every American should know about the Federal Reserve, and we need to educate the American people about the Fed while there is still time.

****************************************************************************************

[Demeter]

27. U.S. States Prepare For Hyperinflation

http://etfdailynews.com/2012/02/04/u-s-states-prepare-for-hyperinflation-gld-slv-uup-udn-sgol-iau/

Dominique de Kevelioc de Bailleul: CNN reports that 13 states seek approval to issue money in preparation for a U.S. dollar collapse.

“In the event of hyperinflation, depression, or other economic calamity related to the breakdown of the Federal Reserve System … the State’s governmental finances and private economy will be thrown into chaos,” stated North Carolina Representative Glen Bradley in a bill he drafted in 2011. Get my next ALERT 100% FREE

Sensing that the Europe’s crisis has bought the Fed and U.S. Treasury some time, for now, State legislators have already begun to prepare for the eventual rejection of the U.S. dollar as a viable means for exchanging goods and services. [Related: PowerShares DB U.S. Dollar Index Bearish Fund (NYSEArca:UDN), PowerShares DB U.S. Dollar Index Bullish Fund (NYSEArca:UUP)]

According to the U.S. Constitution, Article 10, Clause 1 (Contract Clause), States can issue their own money as long as they are in the form of gold and silver coins...

[bread_and_roses]

38. eh? wot?

Is this as weird as I think it is? Like the two articles that I found so fraught with fear over WE, this strikes me as one of those bizarre harbingers that float out there amid the ordinary, barely noticed till the chickens come home to roost?

(question mark and odd phrasing and mixed metaphor apology - i am more weirded out by the news even than usual these days - either things are stranger than usual, or I am in one of those "people are strange when you're a stranger" modes or or or .... I'll not deny I'm on over-load personally right now, with just too much to deal with, so it's probably just me......)

[Demeter]

43. No, it's not just you

and it's not just your personal overload.

Hope that provides some comfort, or at least, traction.

[bread_and_roses]

54. It does, thanks ... (n/t)

[Fuddnik]

67. A Republican from Shithole, NC?

This is right after the institute Sharia Law, right?

[Demeter]

28. Say What? 30 Ben Bernanke Quotes That Are So Stupid That You Won’t Know Whether To Laugh Or Cry

http://theeconomiccollapseblog.com/archives/say-what-30-ben-bernanke-quotes-that-are-so-stupid-that-you-wont-know-whether-to-laugh-or-cry

ENJOY!

[xchrom]

29. China’s Stocks Rise to 11-Week High on Easing Credit Crunch, Greek Bailout

http://www.bloomberg.com/news/2012-02-21/china-stocks-drop-for-first-time-in-three-days-as-oil-hurts-profit-outlook.html

China’s Stocks rose to the highest in 11 weeks after European governments reached an agreement on a Greek aid package and investors speculated the Chinese government will adopt more measures to ease a credit crunch.

Industrial & Commercial Bank of China Ltd. and China Construction Bank Corp. (939) led gains for lenders after money-market rates declined. Jiangxi Copper Co. climbed 1.3 percent after European finance ministers awarded 130 billion euros ($173 billion) in Greek aid. Gansu Qilianshan Cement Group Co. jumped to the highest in almost three months, pacing gains among companies based in western China after the government approved a plan to accelerate the region’s development.

“There will be more policy easing and more liquidity will released into the economy,” said Wei Wei, an analyst at West China Securities Co. in Shanghai. “It still remains to be seen if these policies will be effective in stemming a slowdown in the economy.”

The Shanghai Composite Index (SHCOMP) climbed 17.8 points, or 0.8 percent, to 2,381.43 at the close, the highest since Dec. 1. The CSI 300 Index (SHSZ300) rose 0.9 percent to 2,562.45. The Shanghai Composite has rebounded 8.3 percent this year on expectations the government will ease monetary policies to bolster economic growth that cooled to the slowest pace in 2 1/2 years in the fourth quarter of 2011. The measure trades at 9.8 times estimated earnings, compared with a record low of 8.9 times on Jan. 6, according to weekly data compiled by Bloomberg.

[Demeter]

30. Capitalism And Its Discontents

http://www.thesunmagazine.org/issues/434/capitalism_and_its_discontents

AN HISTORICAL ANALYSIS

[xchrom]

31. California leads nation in green-tech venture capital funding

http://www.latimes.com/business/la-fi-green-tech-funding-20120221,0,4991139.story

When it comes to U.S. venture capital funding for the most promising new green technology firms, there's California and there's everybody else.

California companies raked in $2.8 billion, or 57%, of the $4.9 billion in venture capital offered up in the so-called clean-tech category of funding nationwide last year, according to a recently released analysis from Ernst & Young.

Massachusetts companies were a distant second with $465.1 million, followed by Colorado companies, which pulled in $363.3 million.

"It's a good indicator of the innovation that can be found here and of the opportunities available in California," said Mark Sogomian, an Ernst & Young partner and leader of its clean-tech group in Los Angeles.

[xchrom]

33. China factory explosion leaves many dead

http://www.aljazeera.com/news/asia-pacific/2012/02/201222151544378730.html

An explosion at a steel plant in northeastern China has killed at least 10 people and injured another 17, a company official has said, in the latest industrial accident to hit the world’s second largest economy.

The blast happened late on Monday in a steel casting workshop owned by state-run Angang Heavy Machinery in the city of Anshan in Liaoning province, a spokesman for parent company Ansteel Group said.

"The rescue work just finished. The bodies of the three missing workers have been found and now the local work safety bureau is working on the cause of the accident," Song Jiachen told AFP news agency.

The 17 injured had been taken to hospital for treatment, the official Xinhua news agency said, citing local officials.

[Roland99]

39. US Markets somewhat pleased at Greek deal

S&P 500 1,362.00 +2.25 +0.17%
DOW 12,962 +33.00 +0.26%
NASDAQ 2,584 +2.25 +0.09%

[Roland99]

59. Markets now not-so-pleased. Flat on the day.

I thought this was GREAT news?!?

[Demeter]

68. Market is Spasmodic

Hope it crashes. Serve them all right. Enough of this BS. Admit you screwed up, take your losses, go out of business and into jail for your crimes, and let us little people have our lives back, at least. We've given up hope of getting our savings back (although there ought to be some redistribution plan, once you pirates are out of the picture...), but we still want our country.

[Roland99]

81. DOW 13,000!! Wheee!! (But what does it REALLY mean?)

Here Is Why The Dow Just Passed 13,000
http://www.zerohedge.com/news/here-why-dow-just-passed-13000

As Dow Passes 13,000 In Nominal Terms, Here Is The "Real" Picture
http://www.zerohedge.com/news/dow-passes-13000-nominal-terms-here-real-picture

[Demeter]

40. Is Obama Getting Serious About Bank Fraud? Bill Black VIDEO INTERVIEW

WHAT DO YOU THINK?

http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=7926

[Demeter]

46. Massachusetts Home Seizures Threatened in Loan Case

http://news.businessweek.com/article.asp?documentKey=1376-LZKAUN0D9L3501-5TCTU8KVHPVUOQ034TMUOK0029

The highest court in Massachusetts is poised to rule as soon as this month on a foreclosure case that could lead to a surge in claims from home owners seeking to overturn seizures.

The justices are deciding whether to uphold a lower court ruling that gave a Boston home back to Henrietta Eaton after Sam Levine, a 25-year-old Harvard Law School student, argued in front of the nation's oldest appellate court that the loan servicer made mistakes when it foreclosed because it didn't hold the note proving she was obliged to pay the mortgage.

“If the Massachusetts court says this defense works, that would have a huge ripple effect across the country,” said Kurt Eggert, a professor at Chapman University School of Law in Orange, California.

A ruling in favor of Eaton would show how a $25 billion settlement reached this month with state and federal officials still leaves banks exposed to liabilities tied to home repossessions. It also underscores the challenge of resolving a foreclosure process that Federal Reserve Chairman Ben S. Bernanke said in a study last month is plaguing the housing recovery....MORE

[Demeter]

47. More Foreclosure Mischief: Bankruptcy Hijackings

http://www.nakedcapitalism.com/2012/02/more-foreclosure-mischief-bankruptcy-hijackings.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+NakedCapitalism+%28naked+capitalism%29

One of the common complaints from banks that the concerns raised by borrowers over robosigning are mere “paperwork” problems, that everyone who is foreclosed on deserved it, and no one was really hurt. That is patently false, as there have been an embarrassing number of instances where someone with no mortgage was foreclosed on, as well all too many cases of servicer-driven foreclosures. And that’s before we get to damage to property records.

Attorney Timothy Fong called our attention to a below the radar form of chicanery that is predictable when you have nonjudicial foreclosure with no significant oversight and agents who lack incentives to do a good job. To some translate of the account below, MFRS = Motion for Relief of Stay. Even though a bankruptcy is supposed to hold all creditors at bay until the court sorts out what to do (which in a Chapter 13 is to develop a payment plan), servicers typically harass the borrower by filing Motions for Relief of Stay, which is a fancy of saying, “I want the house now.” If the borrower has hired a competent BK attorney, he can beat it back (although this still wastes the borrower’s by definition scarce funds). But a lot of people hire friends or family that are not BK savvy, and the banks hope to trip them up (either by not responding to the filing, or by signing a document in which the servicer agrees not to file future Motions for Relief of Stay, but which includes some innocuous looking but hugely detrimental provisions).

You need to read the part I boldfaced to see how widespread this sort of bankruptcy hijacking has become. And notice further how this works: the fraudsters pretend a person in bankruptcy owns a property that isn’t his. Not only does the financially stressed borrower have to incur costs to clear this up, but he also is at risk of being construed to be a participant in the scheme....

MORE INCREDIBLE CRIMINALITY AT LINK

[Demeter]

48. Quelle Surprise! Servicers Rip Off Investors as Well as Homeowners

http://www.nakedcapitalism.com/2012/02/quelle-surprise-servicers-rip-off-investors-as-well-as-homeowners.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+NakedCapitalism+%28naked+capitalism%29

...Lisa Epstein of Foreclosure Hamlet is a mortgage document maven and has been looking extensively at investor reports and compared them to court documents and has found serious discrepancies. Her research shows that servicers are not only taking advantage of borrowers but are also scamming investors.

Lisa looked into a Countrywide trust (CWALT 2008-oc8) with Bank of America as the servicer, in part because it is the focus of an important case in Florida, Pino versus Bank of New York. She determined that despite the fact that the case had been satisfied in July 2011, it was still being included as of January 2012 in the monthly investor report. That means Bank of America is still charging servicing fees on it, and likely other fees (late fees, periodic broker price opinions, etc).

And she found that the Pino loan is not alone in having court records show that the property has been sold (ie, the trust is clearly no longer holding the mortgage), yet is still reported as an asset of the trust. From 4closureFraud:

Our research has uncovered other non-existent “assets” on the books of this trust. To put this in perspective, at the origination of this trust there were 6,734 loans of which 61 were originated in Palm Beach County. As of the Jan 2012 investor report, 29 of the original 61 Palm Beach County loans remain on the trusts’ books. Only ONE is performing as originally contracted at closing. Three others have been modified; one has a $39k forbearance, one has a $8k added to principal, one has $16k added to principal. The other 25 loans are non-performing. (As of Jan 2012 report, total left in the trust 2,921; of the 2,921 left 1,187 are non-performing (delinquent = 237, bankruptcy 188, foreclosure = 512, REO = 250) but we know this data isn’t correct, so….)

Some “non-existent” loan examples from the trust

Roman Pino loan #130133456 – $162,400 – (July 2011 satisfaction – still on the books in Jan 2012 trust report in “foreclosure” status) [3764 Mil Run Court, Greenacres, FL 33463] – BoA monthly servicing fee for non-existent mortgage $50.73

Samantha Woodruff loan #130521936 – $171,940 – (Sept 2011 deed from trust REO to new buyer – still on the books in Jan 2012 trust report in “REO” status) [1497 Lake Crystal Drive D, West Palm Beach, FL 33411] BoA monthly servicing fee for non-existent mortgage $33.70

Robert Rodriguez loan #130450231 – $176,542 – (Sept 2011 short sale deed & Nov 2011 satisfaction – still on the books in Jan 2012 trust report in “REO” status) [1139 Lake Terry Drive 60L, West Palm Beach, FL 33411] WOW – BoA monthly servicing fee for non-existent mortgage $181.69

Elsa Castillo Rivas loan #130445815 – $375,000 – (July 2011 short sale deed) – remained on books through Dec 2011 in “REO” status), finally reported as “liquidated” in Jan 2012 report [13918 Preacher Chapman Place, Centreville, VA]. WOW – BoA monthly servicing fee for non-existent mortgage $328.04

This is just a small example of what we are uncovering. If we learned anything from the robosigning scandal, if there are more than two “irregularities,” there are thousands.
More examples from other trusts to come.

We feel comfortable saying that this is widespread…

Investors have told me they’ve seen signs of even more gross abuses, such as servicers treating fees as credit losses. But this sort of remark in a way shows investors suffer from the same agency problems as servicers, who have no reason to do a good job but instead are motivated to game a complex system of fees. Institutional investors are running other people’s money and therefore have no incentive to crack down on miscreant servicers (they feel it is not their job, plus if any one investor were to take this issue on, the rest of the industry would free ride on his work).

So no wonder we only have isolated and very dedicated individuals chipping away at this looting. Everyone else appears to be part of the problem.

[Demeter]

49. The Forum: Crooks on the Loose? Did Felons Get a Free Pass in the Financial Crisis

[Demeter]

55. Manufacturing Illusions By Robert Reich

http://www.informationclearinghouse.info/article30577.htm

Suddenly, manufacturing is back – at least on the election trail. But don’t be fooled. The real issue isn’t how to get manufacturing back. It’s how to get good jobs and good wages back. They aren’t at all the same thing.

Republicans have become born-again champions of American manufacturing. This may have something to do with crucial primaries occurring next week in Michigan and the following week in Ohio, both of them former arsenals of American manufacturing. Mitt Romney says he’ll “work to bring manufacturing back” to America by being tough on China, which he describes as “stealing jobs” by keeping value of its currency artificially low and thereby making its exports cheaper. Rick Santorum promises to “fight for American manufacturing” by eliminating corporate income taxes on manufacturers and allowing corporations to bring their foreign profits back to American tax free as long as they use the money to build new factories.

President Obama has also been pushing a manufacturing agenda. Last month the President unveiled a six-point plan to eliminate tax incentives for companies to move offshore and create new lures for them to bring jobs home. “Our goal,” he says, is to “create opportunities for hard-working Americans to start making stuff again.”

Meanwhile, American consumers’ pent-up demand for appliances, cars, and trucks have created a small boomlet in American manufacturing – setting off a wave of hope, mixed with nostalgic patriotism, that American manufacturing could be coming back. Clint Eastwood’s Super Bowl “Halftime in America” hit the mood exactly. But American manufacturing won’t be coming back. Although 404,000 manufacturing jobs have been added since January 2010, that still leaves us with 5.5 million fewer factory jobs today than in July 2000 – and 12 million fewer than in 1990. The long-term trend is fewer and fewer factory jobs. Even if we didn’t have to compete with lower-wage workers overseas, we’d still have fewer factory jobs because the old assembly line has been replaced by numerically-controlled machine tools and robotics. Manufacturing is going high-tech.

Bringing back American manufacturing isn’t the real challenge, anyway. It’s creating good jobs for the majority of Americans who lack four-year college degrees....

AND INCREASINGLY, FOR THOSE THAT HAVE FOUR OR MORE YEARS OF COLLEGE AND MULTIPLE DEGREES....

...The fundamental problem isn’t the decline of American manufacturing, and reviving manufacturing won’t solve it. The problem is the declining power of American workers to share in the gains of the American economy.

**********************************************************************

Robert Reich is Chancellor's Professor of Public Policy at the University of California at Berkeley. He has served in three national administrations, most recently as secretary of labor under President Bill Clinton. He has written thirteen books, including The Work of Nations, Locked in the Cabinet, Supercapitalism, and his most recent book, Aftershock. His "Marketplace" commentaries can be found on publicradio.com and iTunes. He is also Common Cause's board chairman.

WELL, HE'S HALF-RIGHT. THERE'S NO LAW THAT SAYS MANUFACTURING MUST BE ROBOTIZED, BECAUSE WHEN YOU DON'T HAVE THE CAPITAL TO BUY HIGH TECH SERVICES, YOU DO-IT-YOURSELF WITH LABOR....

[Demeter]

69. ALSO, BRING BACK LOW-TECH QUALITY AND RELIABILITY

Take the electronics out of washers, dryers, toasters, etc. Save resources, landfills, money and jobs. Replace the multinational conglomerates with local industry. It CAN be done, it WILL be done, it MUST be done!

[hamerfan]

85. Gotcher washer right here, Demeter!

http://www.speedqueen.com/home/en-us/products/product.aspx?id=346

[ret5hd]

86. hell yes! my fridge doesn't need an internet connection.

[Demeter]

58. PROFILES IN HUMANITARIAN COURAGE

Bangladesh rickshaw driver builds clinic

Man saves money for 30 years for small hospital in remote village that now treats 300 patients each day.

http://www.aljazeera.com/video/asia/2012/02/2012219114012469822.html


A single man takes the initiative to feed the poor (GREECE)

The life of 47-year-old Constantinos Polychronopoulos was changed in a single day a few months ago when he saw two children fighting over a few rotten pieces of fruit at his local farmers market in the Athenian neighborhood of Aegaleo.

“I went home, put together a few sandwiches and, with a friend of mine, distributed them to the people collecting the refuse from the market after it was closed,” he told Kathimerini.

When this happened, Polychronopoulos had already been unemployed for two years and admits that he felt like he had hit rock bottom....

http://www.ekathimerini.com/4dcgi/_w_articles_wsite6_1_10/02/2012_427206

Humans are 'naturally nice'

New research shows there is a biological basis for co-operative and empathetic behaviour.

http://www.aljazeera.com/news/americas/2012/02/201222023301844664.html

AND IT'S PAST TIME WE STARTED TO REMEMBER THAT

[Demeter]

77. Reality calls, Again (Alas)

There are some really sick and economically ignorant people on this site (I've been trolling)...I'm so thankful, yet sad, that they don't dare stick their heads in here....(knowledge might fall in, accidentally!)

[Demeter]

79. Some of you may enjoy this

http://www.democraticunderground.com/1002335002#post21

[AnneD]

84. DEMETER!!!!!

How many times have you been told not to put your hand in the crazy

I read the facts, as true as I can find, and digest them. Then I think on them and go with my gut. I have the same gut feeling I had when I pulled out in 2005 when the market was almost at 11000-12000. The market is so divorced from the main street economy these days anyway.

My gut is telling me the same thing again. I have been working since the Christmas break to combine my 403b's into one. That was finished last week. I am now taking out a low interest loan on half the amount. I basically borrow from myself and pay myself the low interest rate. That amount is not in the market but held in a savings account. I pay the company a small fee for the transaction, only half my money is exposed to the stock market, and I get liquid cash now. We are paying off the higher interest loans, buying PM and have the rest available for property or deals we come across.

I refuse to be lulled into a false sense of security. Nothing has change since the last game of musical chairs. The music will stop again and I refuse to get caught. You are either in or you are out. A lesson learned from Argentina.

[Fuddnik]

87. Well, the garden is almost in.

Got the tomatoes, peppers, and zucchini planted. Tomorrow, the beans, cabbage, broccoli, and cauliflower go in. Oh, and cantaloupe too, that I bought by mistake. I should have some room left over, and may add another bed.

But, for now, the legs are dead, and the back is screaming. I spent all week-end preparing the beds, fresh soil, lime, fertilizer, weeding, etc;

Now for a nice cold beer. Or 3. Or 12.......