STOCK MARKET WATCH, Friday March 26

[ozymandius]

Source: du

STOCK MARKET WATCH, Friday March 26, 2010

AT THE CLOSING BELL ON March 25, 2010

Dow... 10,841.21 +5.06 (+0.05%)
Nasdaq... 2,397.41 -1.35 (-0.06%)
S&P 500... 1,165.73 -1.99 (-0.17%)
Gold future... 1,092 +3.20 (+0.29%)
10-Yr Bond... 3.87 +0.02 (+0.55%)
30-Year Bond 4.76 +0.03 (+0.59%)

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Market Conditions During Trading Hours

Euro, Yen, Loonie, Silver and Gold

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Handy Links - Market Data and News:Economic Calendar    Marketwatch Data    Bloomberg Economic News    Yahoo! Finance    Google Finance    Bank Tracker    
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Handy Links - Government Issues:
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Handy Links - Videos:
The Coming Collapse of the Middle Class    Charlie Rose talks with Roubini    Charlie Rose talks with Krugman
    William Black: This Economic Disaster    Bill Moyers with Kevin Drum and David Corn

Bush Administration Officials Convicted = 2
Names: David Safavian, James Fondren

Bush Administration Officials Charged = 1
Name(s): Richard Lopez Razo

Financial Sector Officials Convicted since 1/20/09 = 11

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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.

Read more: du

[ozymandius]

1. Today's Reports

08:30 GDP - Third Estimate Q4
Briefing.com 5.9%
Consensus 5.9%
Prior 5.9

08:30 GDP Deflator - Third Estimate Q4
Briefing.com 0.4%
Consensus 0.4%
Prior 0.4%

09:55 Michigan Sentiment - Final Mar
Briefing.com 72.1
Consensus 73.0
Prior 72.5

http://www.briefing.com/Investor/Public/Calendars/EconomicCalendar.htm

[ozymandius]

20. Q4 GDP Revised down to 5.6%

Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 5.6 percent in the fourth quarter of 2009 ... Real personal consumption expenditures increased 1.6 percent in the fourth quarter.

http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm

[ozymandius]

2. Oil rises to near $81 as US dollar weakens

SINGAPORE – Oil prices rose to near $81 a barrel Friday in Asia as the U.S. dollar weakened, making dollar-based commodities cheaper for investors with other currencies. ....

Crude has meandered in the low $80s for about the last two weeks as investors look for signs global oil demand is growing. Some analysts expect U.S. demand to pickup and offset weak European consumption. ....

In other Nymex trading in April contracts, heating oil rose 1.15 cents to $2.081 a gallon, and gasoline gained 0.67 cent to $2.224 a gallon. Natural gas was steady at $3.980 per 1,000 cubic feet.

http://news.yahoo.com/s/ap/oil_prices

[ozymandius]

3. Senate Republican holds up jobless benefits

WASHINGTON – As Congress raced to leave Washington for its Easter recess, a Republican senator blocked a stopgap bill to extend jobless benefits, saying its $9 billion cost should not be added to the national debt.

As a result, some people who have been out of work for more than six months will at least temporarily lose benefits. Newly jobless people won't be eligible to sign up for generous health insurance subsidies. ....

The practical effect of the lapse in benefits would be limited if they are awarded retroactively. But labor advocates say it produces bureacratic nightmares for state labor departments and that trying to restore the lapsed benefits is easier said than done.

Reid had the option of keeping the Senate in session to force a vote to try to break through the GOP blocking tactics but instead will revisit the issue in 2 1/2 weeks. ....

Democratic leaders say that jobless benefits are an emergency and don't need to conform to the new pay-as-you-go budget law, which requires new benefit programs to be offset with spending cuts or tax increases so they don't increase the deficit.

http://news.yahoo.com/s/ap/20100326/ap_on_bi_ge/us_unemployment_benefits

[ozymandius]

4. States shed government jobs as revenue plummets

WASHINGTON – Pennsylvania, Michigan and Washington shed government jobs last month, a result of shrinking state tax revenue that economists fear could weaken the recovery.

State and local government jobs have traditionally provided a haven during economic downturns. But as states have struggled to close growing budget gaps, job cuts have spread. ....

Economists are pointing to the states' budget problems as a potential threat to the economic recovery. In addition to job cuts, states are reducing services and raising taxes to close their deficits. ....

The Center on Budget and Policy Priorities, a liberal think tank, estimated last month that 45 states have cut spending and more than 30 have raised taxes. The Great Recession has caused state tax receipts to fall by a record amount, the center said. Higher taxes and budget cuts tend to limit overall spending by reducing consumers' disposable income.

http://news.yahoo.com/s/ap/20100325/ap_on_bi_go_ec_fi/us_state_unemployment

[ozymandius]

5. JPMorgan, Lehman, UBS Named as Conspirators in Muni Bid-Rigging

March 26 (Bloomberg) -- JPMorgan Chase & Co., Lehman Brothers Holdings Inc. and UBS AG were among more than a dozen Wall Street firms involved in a conspiracy to pay below-market interest rates to U.S. state and local governments on investments, according to documents filed in a U.S. Justice Department criminal antitrust case.

A government list of previously unidentified “co- conspirators” contains more than two dozen bankers at firms also including Bank of America Corp., Bear Stearns Cos., Societe Generale, two of General Electric Co.’s financial businesses and Salomon Smith Barney, the former unit of Citigroup Inc., according to documents filed in U.S. District Court in Manhattan on March 24. The papers were filed by attorneys for a former employee of CDR Financial Products Inc., an advisory firm indicted in October. The attorneys, as part of their legal filing, identified the roster as being provided by the government. The document is labeled “list of co-conspirators.”

None of the firms or individuals named on the list has been charged with wrongdoing. The court records mark the first time these companies have been identified as co-conspirators. They provide the broadest look yet at alleged collusion in the $2.8 trillion municipal securities market that the government says delivered profits to Wall Street at taxpayers’ expense. ....

The government’s case centers on investments known as guaranteed investment contracts that cities, states and school districts buy with the money they receive through municipal bond sales. Some $400 billion of municipal bonds are issued each year, and localities use the contracts to earn a return on some of the money until they need it for construction or other projects. ....

The indictments released in October didn’t identify any of the sellers of the investment contracts involved in the alleged conspiracy. They were identified only as Provider A and Provider B. They paid kickbacks to CDR after winning investment deals brokered by the firm, according to the indictments.

The firms did this by paying sham fees tied to financial transactions entered into with other companies, prosecutors said. Kickbacks were paid from 2001 to 2005, ranging from $4,500 to $475,000 each, according to the Justice Department.

http://www.bloomberg.com/apps/news?pid=20601087&sid=anW3hAG0Zw5k&pos=1

[ozymandius]

7. Analysis

From Naked Capitalism:

Now it is getting closer to being official. This Bloomberg story reports that not only do Wall Street firms screw their clients (hardly a novel revelation these days) but a large group of firms allegedly conspired to price-fix on guarantee investment contracts, a product used by government issuers to park cash raised via bond issues before they deploy it.

excerpt from article snippet posted above

Sufficient Evidence’

“If the government is saying they are co-conspirators, the government believes they have sufficient evidence that they can show they were part of the conspiracy,” said Richard Donovan, a partner at New York-based law firm Kelley Drye & Warren LLP and co-chair of its antitrust practice. Donovan isn’t involved in the case.

More analysis can be read here.

[Hugin]

11. What!? I've been assured numerous times right here on the august pages of DU that Conspiracies...

DO.NOT.EXIST!... Theoretically, anyway.

[tclambert]

15. That's what they WANT you to think!

Those pesky Andromedans with their telepathic mind-control. I'm safe, though. The aluminum foil forms a Faraday cage that blocks their transmissions.

[Demeter]

22. When It's Those In Power That Do It--Is It a Conspiracy?

"1.the act of conspiring.

2.an evil, unlawful, treacherous, or surreptitious plan formulated in secret by two or more persons; plot.

3.a combination of persons for a secret, unlawful, or evil purpose: He joined the conspiracy to overthrow the government.

4.Law. an agreement by two or more persons to commit a crime, fraud, or other wrongful act.

5.any concurrence in action; combination in bringing about a given result. "

Or is it just business as usual, totally lawful?

[ozymandius]

8. Sen. Kaufman: We Are Going After Lehman Brothers Over Accounting Shenanigans

It's a veritable crime sweep. Senator Ted Kaufman (D-Del.) confidently tells Aaron Task of Tech Ticker that "the FBI agents and the prosecutors are going after these guys" -- that is, the possible fraud behind Lehman Brothers "Repo 105" accounting.

Lehman's balance sheet shenanigans, however, may only be the tip of the iceberg.

The prosecutions won't be easy, Kaufman said. "(Lehman is) very complex. They clean up after themselves very well, and they hire the very best attorneys. But we are going to do it." He added that $175 million has been set aside to fund SEC/FBI investigations and to go after Wall Street.

More available from HuffPo including video...

[DemReadingDU]

16. Sen. Kaufman: Bring Back Glass-Steagall, Break Up 'Too Big to Fail' Banks

Part 2
click link for video

With health-care reform presumably a done deal, Congress is now turning its attention to Wall Street reform.

Senate Banking Chair Christopher Dodd's financial reform bill has "an excellent chance to pass," according to Delaware Senator Ted Kaufman, who was appointed to fill Joe Biden's term after the 2008 election. "I just cannot believe after what happened to this country that we're not going to do something about...regulating Wall Street and getting things back under control. I find it hard to believe people will vote against a bill to do what we have to do."

more...
http://finance.yahoo.com/tech-ticker/sen.-kaufman-bring-back-glass-steagall-break-up-%27too-big-to-fail%27-banks-449989.html?tickers=GS,JPM,C,BAC,MS,WFC,XLF&sec=topStories&pos=8&asset=&ccode=

[ozymandius]

17. Point made: The net sum result of muni bond bid-rigging

From February 22, 2010 at Daily Kos

Junk economics and the rape of the middle class
Daily Kos
by gjohnsit

...JP Morgan was behind the financial derivatives that has bankrupted Jefferson County, Alabama over a sewer project.

Because of the financial disaster regarding the sewer project, sewer charges were raised to more than double the national average. Poor, working residents are being forced to chose between water and heat. Cuts in the sheriff's office are so severe that plans are being made to call in the National Guard for any breakout in civil order.

If this sounds suspiciously like the scenario of a 3rd world nation in Latin America, it only means that you are paying attention...

http://www.dailykos.com/storyonly/2010/2/22/115822/234

[ozymandius]

6. Bernanke Says U.S. Fiscal Outlook ‘Somewhat Dark’ (Update2)

March 25 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke told lawmakers today that the U.S. government’s budget outlook is “somewhat dark” and Congress needs to agree on a plan to reduce the deficit.

He spoke in response to a question about the budget impact of the health-care overhaul signed into law this week by President Barack Obama. Bernanke declined to discuss the effect of the health measure, saying he didn’t want to “second guess” the Congressional Budget Office. ....

Treasuries declined today, pushing the yield on 10-year debt to the highest level since June, after this week’s record- tying $118 billion note auctions drew lower-than-average demand. U.S. stocks fell for a second day on concern governments around the world will have trouble managing growing debt levels. ....

The U.S. budget deficit reached a record $1.4 trillion for the fiscal year that ended Sept. 30 amid falling tax revenue from the recession, a bailout of the banking and auto industries, and the $787 billion economic stimulus package. The Obama administration expects the shortfall to widen to $1.5 trillion this year. ....

The Congressional Budget office estimates that the health- care package will cost $940 billion over 10 years and cover 32 million uninsured Americans. That’s more than made up for with a new tax on the highest earners, fees on health-care companies and hundreds of billions of dollars in Medicare savings, which will reduce the federal deficit, the CBO said.

http://www.bloomberg.com/apps/news?pid=20601010&sid=aHNI.d7R6uVU

[fasttense]

12. It is amazing how these Fed Chairs pick and choose when the budget deficit bothers them.

Give away trillions in tax revenue to the ultra wealthy for years to come, no problem with the Fed Chair, in fact Greenspan went around saying that a surplus could be bad for the economy.

Give away trillions of dollars to contractors on useless wars, no problem with the Fed Chair.

Start a drug program for the elderly that gives billions to pharma in overpriced drug purchases, no problem with the Fed Chair.

Help millions of American citizens to get health care, and even though the CBO says it will reduce the deficit, suddenly the Fed Chair warns against the budget deficit.

For years this budget deficit has been building up and suddenly the Fed Chair sees it as a danger.

[Festivito]

9. Debt: 03/24/2010 12,662,466,657,519.82 (DOWN 8,429,123,169.38) (Wed)

(Up a little. Good day all.)

(Debt under Obama seems to jump up big then drop slowly maybe up a little and down a little for days--repeat.)
= Held by the Public + Intragovernmental(FICA)
= 8,176,387,175,629.41 + 4,486,079,481,890.41
UP 495,755,553.04 + DOWN 8,924,878,722.42

Source: Debt to the penny:
http://www.treasurydirect.gov/NP/BPDLogin?application=np

THINKING IN BILLIONS: Think 3 or 4 dollars per billion in a 309-Million person America.
If every American, man, woman and child puts in $3.24 each THAT'S 1B$.
A family of three: Mom, Dad, Child: $9.71, ABOUT TEN BUCKS for a 1B$ federal program.
I hope that is clear. However, I'd suggest using $3 per 1B$ to underestimate it.
Use $4 per 1B$ to overestimate the cost when thinking: Is the federal program worth it?
Aid to Dependant Children: 2B$/yr =$8/yr(a movie a year) Family of 3: $24/yr(an hour of bowling)

PERSONALIZED DEBT:
Every 10 seconds we net gain another American, so at the end of the workday of the report, there should be 309,066,078 people in America.
http://www.census.gov/population/www/popclockus.html ON 11/07/2009 08:19 -> 307,879,272
Currently, each of these Americans owe $40,970.1.
A family of three owes $122,910.29. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 21 reports in the last 30 to 28 days.
The average for the last 21 reports is 12,413,594,792.85.
The average for the last 30 days would be 8,689,516,354.99.
The average for the last 28 days would be 9,310,196,094.64.
There were 252 reports in 365 days of FY2007 averaging 1.99B$ per report, 1.37B$/day.
There were 253 reports in 366 days of FY2008 averaging 4.02B$ per report, 2.78B$/day.
There were 75 reports in 112 days of GWB's part of FY2009 averaging 8.03B$ per report, 5.38B$/day.
There were 174 reports in 253 days of Obama's part of FY2009 averaging 7.33B$ per report, 5.07B$/day so far.
There were 249 reports in 365 days of FY2009 averaging 7.57B$ per report, 5.16B$/day.
There were 119 reports in 175 days of FY2010 averaging 6.32B$ per report, 4.30B$/day.
Above line should be okay

PROJECTION:
There are 1,033 days remaining in this Obama 1st term.
By that time the debt could be between 14.1 and 22.3T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
03/24/2010 12,662,466,657,519.82 BHO (UP 2,035,589,608,606.74 so far since Obama took office.)

FISCAL YEAR DEBT CHANGE, Sep 30 prior year to Sep 30 named year:
(One "* " for each 40B$ reached)
FY1994 +0,281,261,026,873.94 ------------* * * * * * * WJC
FY1995 +0,281,232,990,696.07 ------------* * * * * * * WJC
FY1996 +0,250,828,038,426.34 ------------* * * * * * WJC
FY1997 +0,188,335,072,261.61 ------------* * * * WJC
FY1998 +0,113,046,997,500.28 ------------* * WJC
FY1999 +0,130,077,892,735.81 ------------* * * WJC
FY2000 +0,017,907,308,253.43 ------------WJC
FY2001 +0,133,285,202,313.20 ------------* * * C&B
01-WJC +0,053,598,528,417.78 ------------* WJC 31% of FY, 40% of FY-Debt
01-GWB +0,079,686,673,895.42 ------------* GWB 69% of FY, 60% of FY-Debt
FY2002 +0,420,772,553,397.10 ------------* * * * * * * * * * GWB
FY2003 +0,554,995,097,146.46 ------------* * * * * * * * * * * * * GWB
FY2004 +0,595,821,633,586.70 ------------* * * * * * * * * * * * * * GWB
FY2005 +0,553,656,965,393.18 ------------* * * * * * * * * * * * * GWB
FY2006 +0,574,264,237,491.73 ------------* * * * * * * * * * * * * * GWB
FY2007 +0,500,679,473,047.25 ------------* * * * * * * * * * * * GWB
FY2008 +1,017,071,524,649.92 ------------* * * * * * * * * * * * * * * * * * * * * * * * * GWB
FY2009 +1,885,104,106,599.30 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * B&O
09GWB +0,602,152,152,000.60 ------------* * * * * * * * * * * * * * * GWB 31% of FY, 32% of FY-Debt
09-BHO +1,282,951,954,598.70 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO 69% of FY, 68% of FY-Debt
FY2010 +0,752,637,654,008.10 ------------* * * * * * * * * * * * * * * * * * BHO
Endof10 +1,569,787,106,931.18 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Linear Projection

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
03/04/2010 +034,416,128,156.63 ------------**********
03/05/2010 -000,074,542,156.87 ----
03/08/2010 +000,260,238,586.47 ------------******** Mon
03/09/2010 +000,542,827,835.74 ------------********
03/10/2010 +000,295,703,179.30 ------------********
03/11/2010 +029,692,666,288.30 ------------**********
03/12/2010 +000,363,901,611.09 ------------********
03/15/2010 +060,487,338,970.60 ------------********** Mon
03/16/2010 +000,241,513,784.66 ------------********
03/17/2010 +000,318,864,879.69 ------------********
03/18/2010 +020,986,560,998.86 ------------**********
03/19/2010 +000,244,805,712.35 ------------********
03/22/2010 +000,662,784,714.13 ------------******** Mon
03/23/2010 +000,796,033,080.11 ------------********
03/24/2010 +000,495,755,553.04 ------------********

149,730,581,194.10 Total of 15 above reports.

Heavy borrowing seems to start after 09/18/2008 while Bush was in power JUST BEFORE fiscal year end.
Bush admin borrowed $962,245,245,654.01 in those last 124 days in office crossing two fiscal years.
$360,093,093,653.42 in last 12 days of FY2008, and $602,152,152,000.59 in subsequent 112 days before leaving office.

For a prettier and more explanatory view of our nation's debt:
http://www.brillig.com/debt_clock
http://www.usdebtclock.org/
DUer primer on National debt

(Debt to the penny keeps changing. Stuff is missing. Best to keep our own history.) LAST REPORT:
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4319378&mesg_id=4319405

[Festivito]

24. Debt: 03/25/2010 12,687,570,153,023.93 (UP 25,103,495,504.11) (Thu)

(Up enough for a Friday dump. Good weekend all.)

(Debt under Obama seems to jump up big then drop slowly maybe up a little and down a little for days--repeat.)
= Held by the Public + Intragovernmental(FICA)
= 8,200,481,797,735.73 + 4,487,088,355,288.20
UP 24,094,622,106.32 + UP 1,008,873,397.79

Source: Debt to the penny:
http://www.treasurydirect.gov/NP/BPDLogin?application=np

THINKING IN BILLIONS: Think 3 or 4 dollars per billion in a 309-Million person America.
If every American, man, woman and child puts in $3.24 each THAT'S 1B$.
A family of three: Mom, Dad, Child: $9.71, ABOUT TEN BUCKS for a 1B$ federal program.
I hope that is clear. However, I'd suggest using $3 per 1B$ to underestimate it.
Use $4 per 1B$ to overestimate the cost when thinking: Is the federal program worth it?
Aid to Dependant Children: 2B$/yr =$8/yr(a movie a year) Family of 3: $24/yr(an hour of bowling)

PERSONALIZED DEBT:
Every 10 seconds we net gain another American, so at the end of the workday of the report, there should be 309,074,718 people in America.
http://www.census.gov/population/www/popclockus.html ON 11/07/2009 08:19 -> 307,879,272
Currently, each of these Americans owe $41,050.17.
A family of three owes $123,150.51. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 21 reports in the last 30 to 28 days.
The average for the last 21 reports is 12,090,883,845.17.
The average for the last 30 days would be 8,463,618,691.62.
The average for the last 28 days would be 9,068,162,883.88.
There were 252 reports in 365 days of FY2007 averaging 1.99B$ per report, 1.37B$/day.
There were 253 reports in 366 days of FY2008 averaging 4.02B$ per report, 2.78B$/day.
There were 75 reports in 112 days of GWB's part of FY2009 averaging 8.03B$ per report, 5.38B$/day.
There were 174 reports in 253 days of Obama's part of FY2009 averaging 7.33B$ per report, 5.07B$/day so far.
There were 249 reports in 365 days of FY2009 averaging 7.57B$ per report, 5.16B$/day.
There were 120 reports in 176 days of FY2010 averaging 6.48B$ per report, 4.42B$/day.
Above line should be okay

PROJECTION:
There are 1,032 days remaining in this Obama 1st term.
By that time the debt could be between 14.1 and 22.0T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
03/25/2010 12,687,570,153,023.93 BHO (UP 2,060,693,104,110.85 so far since Obama took office.)

FISCAL YEAR DEBT CHANGE, Sep 30 prior year to Sep 30 named year:
(One "* " for each 40B$ reached)
FY1994 +0,281,261,026,873.94 ------------* * * * * * * WJC
FY1995 +0,281,232,990,696.07 ------------* * * * * * * WJC
FY1996 +0,250,828,038,426.34 ------------* * * * * * WJC
FY1997 +0,188,335,072,261.61 ------------* * * * WJC
FY1998 +0,113,046,997,500.28 ------------* * WJC
FY1999 +0,130,077,892,735.81 ------------* * * WJC
FY2000 +0,017,907,308,253.43 ------------WJC
FY2001 +0,133,285,202,313.20 ------------* * * C&B
01-WJC +0,053,598,528,417.78 ------------* WJC 31% of FY, 40% of FY-Debt
01-GWB +0,079,686,673,895.42 ------------* GWB 69% of FY, 60% of FY-Debt
FY2002 +0,420,772,553,397.10 ------------* * * * * * * * * * GWB
FY2003 +0,554,995,097,146.46 ------------* * * * * * * * * * * * * GWB
FY2004 +0,595,821,633,586.70 ------------* * * * * * * * * * * * * * GWB
FY2005 +0,553,656,965,393.18 ------------* * * * * * * * * * * * * GWB
FY2006 +0,574,264,237,491.73 ------------* * * * * * * * * * * * * * GWB
FY2007 +0,500,679,473,047.25 ------------* * * * * * * * * * * * GWB
FY2008 +1,017,071,524,649.92 ------------* * * * * * * * * * * * * * * * * * * * * * * * * GWB
FY2009 +1,885,104,106,599.30 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * B&O
09GWB +0,602,152,152,000.60 ------------* * * * * * * * * * * * * * * GWB 31% of FY, 32% of FY-Debt
09-BHO +1,282,951,954,598.70 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO 69% of FY, 68% of FY-Debt
FY2010 +0,777,741,149,512.20 ------------* * * * * * * * * * * * * * * * * * * BHO
Endof10 +1,612,929,088,477.01 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Linear Projection

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
03/05/2010 -000,074,542,156.87 ----
03/08/2010 +000,260,238,586.47 ------------******** Mon
03/09/2010 +000,542,827,835.74 ------------********
03/10/2010 +000,295,703,179.30 ------------********
03/11/2010 +029,692,666,288.30 ------------**********
03/12/2010 +000,363,901,611.09 ------------********
03/15/2010 +060,487,338,970.60 ------------********** Mon
03/16/2010 +000,241,513,784.66 ------------********
03/17/2010 +000,318,864,879.69 ------------********
03/18/2010 +020,986,560,998.86 ------------**********
03/19/2010 +000,244,805,712.35 ------------********
03/22/2010 +000,662,784,714.13 ------------******** Mon
03/23/2010 +000,796,033,080.11 ------------********
03/24/2010 +000,495,755,553.04 ------------********
03/25/2010 +024,094,622,106.32 ------------**********

139,409,075,143.79 Total of 15 above reports.

Heavy borrowing seems to start after 09/18/2008 while Bush was in power JUST BEFORE fiscal year end.
Bush admin borrowed $962,245,245,654.01 in those last 124 days in office crossing two fiscal years.
$360,093,093,653.42 in last 12 days of FY2008, and $602,152,152,000.59 in subsequent 112 days before leaving office.

For a prettier and more explanatory view of our nation's debt:
http://www.brillig.com/debt_clock
http://www.usdebtclock.org/
DUer primer on National debt

(Debt to the penny keeps changing. Stuff is missing. Best to keep our own history.) LAST REPORT:
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4321076&mesg_id=4321115

[tclambert]

10. From the saving money with duct tape files:

Journey into space with a balloon and duct tape

It all sounds very Heath Robinson but a digital camera, a GPS device, some duct tape and a balloon were all that was needed to take some breathtaking pictures of Earth that had Nasa calling.

Robert Harrison, 38, used a collection of cheap parts costing £500 (~$750) to create a balloon-mounted camera that can travel up to 21.7 miles (35km) above the surface of the Earth. The result is a series of pictures taken from a height that only a rocket or weather balloon can reach. Mr Harrison, an IT director from Highburton, West Yorkshire, has launched 12 high-altitude balloons (HABs) since 2008.

http://www.timesonline.co.uk/tol/news/science/space/article7074839.ece
_________________________

The photo in the article is very impressive. He put a parachute on the camera so he could recover it and reuse it. Didn't want to be wasteful.

[Hugin]

13. Thanks for posting this...

I've been needing a new background pic for my cell phone. :7

[Roland99]

14. Wicked cool!

[Po_d Mainiac]

18. PM rigging by JPM....Former GS trader now with JPM

Yeah I know some of these blogs are often short on facts, but this story may be legit. The timing of the moves in SLV do coincide with my own observations.

The youtube link :popcorn: sure appears real. Haven't found any M$M outlets carrying the story.... yet

http://www.youtube.com/watch?v=e9bU0r6JP4s&feature=player_embedded
"Can you give specifics" <snip> "more specific than I anticipated!!" :spray:

http://www.neurosoftware.ro/finance/tag/andrew-maguire/
http://www.gata.org/node/8466

The one way to determine the accuracy of this story will be Mr Maguire's obituary...or some Sultan decides to take actual delivery of his PM holdings, and forces JPM's kaboom

[Po_d Mainiac]

19. Google the following..

"news about JPM silver trading"

[ozymandius]

21. March Madness: The Worst Companies In America

bracketology from The Consumerist:

Found at The Big Picture

---

Lotsa banks, technology companies, airlines and other varieties of corporate filth represented here.

[tclambert]

23. Goldman Sachs and Exxon Mobil absent from list.

I didn't see News Corp. there either, the owner of Fox News and other propaganda outlets.