STOCK MARKET WATCH, Thursday April 29

[ozymandius]

Source: du

STOCK MARKET WATCH, Thursday April 29, 2010

AT THE CLOSING BELL ON April 28, 2010

Dow... 11,045.27 +53.28 (+0.48%)
Nasdaq... 2,471.73 +0.26 (+0.01%)
S&P 500... 1,191.36 +7.65 (+0.64%)
Gold future... 1,171 -1.10 (-0.09%)
10-Yr Bond... 3.76 +0.07 (+2.01%)
30-Year Bond 4.63 +0.05 (+1.00%)

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Market Conditions During Trading Hours

Euro, Yen, Loonie, Silver and Gold

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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 Continuing Claims 04/17
Briefing.com 4625K
Consensus 4625K
Prior 4646K

08:30 Initial Claims 04/24
Briefing.com 435K
Consensus 445K
Prior 456K

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

[UpInArms]

16. Initial Claims @ 448,000 - last wk rev'd up 3k

8:30a Jobless claims fall 11,000 to 448,000

8:30a Total jobless claims 10.39 million, down 148K

8:30a US 4-week avg. ongoing claims down 9,000 to 4.64M

8:30a US continuing claims down 18,000 to 4.65 million

8:30a US 4-week avg. claims up 1,500 to 462,500

8:30a US initial jobless claims fall 11,000 to 448,000

[ozymandius]

2. Oil hovers near $83 on weak US demand, Europe debt

KUALA LUMPUR, Malaysia – Oil prices hovered above $83 a barrel Thursday in Asia with gains tempered by signs of weak U.S. crude demand and an escalating European debt crisis.

Crude inventories increased by nearly 2 million barrels last week, more than analysts expected, according to the Energy Department's Energy Information Administration's weekly report. Supplies of gasoline and distillates used for diesel fuel and heating oil also continue to be well above average, according to the report.

The deteriorating debt positions of some Southern European countries have also undermined investor optimism this week. Standard & Poor's lowered its credit rating for Spain on Wednesday, a day after it slashed its ratings for Greece and Portugal.

In other Nymex trading in May contracts, heating oil fell 0.87 cent to $2.221 a gallon, and gasoline dropped 0.72 cent to $2.326 a gallon. Natural gas was steady at $4.350 per 1,000 cubic feet.

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

[Robbien]

10. And in other news Bloomberg is reporting BP Oil Well Leaking Five Times Faster Than Estimated

A damaged BP Plc oil well in the Gulf of Mexico is leaking as many as 5,000 barrels of crude a day, five times more than previously estimated, the U.S. Coast Guard said.

“There’s an additional breach in the well,” Coast Guard spokesman Erik Swanson said by telephone from Robert, Louisiana. The National Oceanic and Atmospheric Administration has increased its estimates of the flow of crude from 1,000 barrels a day, he said.

. . .

The oil may reach land for the first time tomorrow in Louisiana, bringing tar balls and mousse-like hunks of emulsified oil later, Charlie Henry, the U.S. government’s lead forecaster for the spill, said yesterday at the press conference in Robert.

BP burned a section of the slick yesterday, testing whether it may be used to reduce potential shoreline damage, Swanson said earlier. Results will be announced today, Doug Suttles, BP’s chief operating officer for exploration and production, said at the press conference. Daren Beaudo, a spokesman for BP, couldn’t immediately be reached for comment late yesterday.

. . .

BP expects to begin drilling tomorrow a new well to reach the damaged well and stop the flow. The well will be started a half mile away and stopping the flow through that method may take three months, he said.

http://www.bloomberg.com/apps/news?pid=20601087&sid=adboVQ2X1ghE&pos=9


Three months to dig a new well to stop the old well spill. At a cost of six mil a day for containing and cleaning up the oil I don't see BP sticking around too much longer before dumping the whole cleanup on the backs of taxpayers.

[Po_d Mainiac]

12. Oil nears the Gulf Coast of La.

The current estimate of the spill is 5X the previous estimate

That 42,000 gal/day (1,000bbls) is now more like 220,000 gal/day (5,000bbls)

The effects from this mess are going to be massive to both the economies of the same areas that got ass-whipped from Katrina/Ivan and the ecosystem that puts a lot of groceries on our tables.

un-fucking-believable :grr:

[AnneD]

19. At least we won't need...

oil to fry our sea food in. They can fry it as soon as you catch it :shrug:

[Po_d Mainiac]

24. No soup for you...................n/t

[AnneD]

29. I'll just sit here.....

eating my crude fried shrimp poor boy. Pass the Tabasco please. :sarcasm:, but is it really necessary.

[Demeter]

25. Gasoline Up 15 cents this Thursday

why? Because the oil rig exploded and all that oil is going to waste? I don't thinks so!

Because Our Leader is coming to town for commencement? More likely, but I think the REAL reason is:

BECAUSE THEY CAN!

Sorry to come to this thread so late--I slept this morning, and then went out to divide up the daffodils and plant the snapdragon seedlings. Doing my Demeter gig--it's healthy for my mind.

[ozymandius]

3. Obama to name Yellen as Fed's No. 2

WASHINGTON – Putting a bigger stamp on the Federal Reserve, President Barack Obama is set to name Janet Yellen as vice chairwoman of the central bank and fill two other vacancies on the board, which has enormous power over Americans' pocketbooks.

The nominations are subject to Senate approval. If the Senate confirms all three nominees, Obama will have appointed five of the seven members of the Federal Reserve Board.

Yellen is president of the Federal Reserve Bank of San Francisco. As vice chair, the second-highest ranking Fed official, her duties would include helping build support for policy positions staked out by Fed Chairman Ben Bernanke, who has begun a second term.

Obama also is expected to nominate Sarah Raskin and Peter Diamond to the Fed board. Raskin is the Maryland commissioner of financial regulation. Diamond is an economist at the Massachusetts Institute of Technology.

Yellen was a top adviser to President Bill Clinton and is considered a dove on monetary policy. That means she would be expected to be more concerned about high unemployment, currently holding at 9.7 percent nationally, than about rising inflation.

http://news.yahoo.com/s/ap/20100429/ap_on_bi_ge/us_obama_fed_nominees

[ozymandius]

4. World stocks mixed amid caution over Europe crisis

The European debt crisis spread Wednesday when Standard & Poor's lowered its credit rating for Spain amid concerns about the country's growth prospects following the collapse of a construction bubble. The downgrade, coming just a day after S&P slashed its credit ratings on Greece and Portugal, escalated fears of a contagion that could raise borrowing costs for European countries, chill the credit markets and derail an economic recovery.

However, sentiment was helped by an overnight gain on Wall Street, where stocks finished higher after the Federal Reserve offered modest reassurances about the world's largest economy.

European markets traded mostly higher early in the session: Britain's FTSE 100 was up 0.4 percent, Germany's DAX added 0.4 percent and France's CAC-40 gained 0.7 percent. With U.S. market futures green, Wall Street was poised to advance Thursday.

In Asia, Hong Kong's Hang Seng fell 170.48 points, or 0.8 percent, to 20,778.92, and South Korea's Kospi shed 5.49 points, or 0.3 percent, to 1,728.42.

Elsewhere, Shanghai's market dropped 1.1 percent and Australian stocks retreated 0.8 percent.

http://news.yahoo.com/s/ap/20100429/ap_on_bi_ge/world_markets

Japan's markets were closed for a holiday.

[ozymandius]

5. Spain downgraded as Europe debt crisis widens

BERLIN – Europe's debt crisis spread its contagion to another country Wednesday when a major agency downgraded Spain's credit rating, even as Germany grudgingly moved closer to bailing out Greece from imminent collapse.

Greece and Portugal — up to now the focus of alarm — are relative economic minnows. But Spain's economy, at four times the size of Greece, is considered by many too big to rescue.

Chancellor Angela Merkel said Germany would speed up approval of its share of a nearly $60 billion (euro45 billion) joint bailout with the International Monetary Fund and other euro countries, rushing it through parliament by May 7.

That would beat a May 19 deadline when Greece has debt coming due — and which it can't pay without a bailout.

But the Spain downgrade and a lack of clarity about how much money Greece will really need unsettled investors. Major European markets closed down after the Spain announcement, which came in the final two minutes of trading.

http://news.yahoo.com/s/ap/20100428/ap_on_bi_ge/eu_europe_financial_crisis

[Grinchie]

7. Shock and Awe....

The words in that post are just plain scary.

[KoKo]

13. Naomi Klein........"The Shock Doctrine." She seems to have been

a true Cassandra warning us...

[Tansy_Gold]

14. "The Ornament of the World" -- attn Ghost Dog

Apropos of the three-post exchange from yesterday's SMW

http://books.google.com/books?id=iDDhaR9btpcC&printsec=frontcover&dq=ornament+of+the+world&source=bl&ots=PV_7MEiGSX&sig=vee-AuU-bgIGsXrwKRAH3pSdusI&hl=en&ei=SIPZS46AAZngM4mRxaIC&sa=X&oi=book_result&ct=result&resnum=3&ved=0CB0Q6AEwAg#v=onepage&q&f=false


I hope this link works. If not, one can google the book's title and go to the google site for a health sample.

I always thought Michener's Iberia was a bit over-romanticized, but there were big globs of truth in it. And of course I had been in love with Spain since before I was born, I think. I read Menocal's book in 2003, during my last semester in school, and I didn't have time to absorb it the way I did Iberia, and to compare the two books.

But I wonder, as I always do, how many opportunities we as a species have been given and have blown, and how many or few more opportunities will we have before we self-destruct?


That's why I enjoy SMW so much, even when I don't have time to post or even thoroughly read and digest all the articles and comments. Here, if almost nowhere else, we try to synthesize it all. We try, to the best of our maybe meager or maybe prodigious abilities, to pool our best sources and resources and find the solutions.

Oh yes, and Happy 76th Birthday to Luis Aparicio.




Tansy Gold

[InkAddict]

17. Thank you Tansy for the link - I will check that one at my library

and get it reserved...

[Ghost Dog]

23. Ah, thanks Tansy. I'll put that title at the top of my list.

Tribalism, fundamentalism and ruling class rivalries, both between and within the different cultures do indeed have a lot to answer for. So much tragedy.

...During the Muslim conquests of the 7th and early 9th centuries, Rashidun armies established the Caliphate, or Islamic Empire, one of the largest empires in history. The Islamic Golden Age was soon inaugurated by the middle of the 8th century by the ascension of the Abbasid Caliphate and the transfer of the capital from Damascus to the newly founded city Baghdad. The Abbassids were influenced by the Qur'anic injunctions and hadith such as "The ink of the scholar is more holy than the blood of martyrs" stressing the value of knowledge. During this period the Muslim world became the unrivaled intellectual centre for science, philosophy, medicine and education as the Abbasids championed the cause of knowledge. They established the "House of Wisdom" ( Arabic: بيت الحكمة ) in Baghdad, where scholars, both Muslim and non-Muslim, sought to gather and translate all the world's knowledge into Arabic in the Translation Movement. Many classic works of antiquity that would otherwise have been forgotten were translated into Arabic and later in turn translated into Turkish, Sindhi, Persian, Hebrew and Latin. During this period the Muslim world was a cauldron of cultures which collected, synthesized and significantly advanced the knowledge gained from the ancient Mesopotamian, Roman, Chinese, Indian, Persian, Egyptian, North African, Greek and Byzantine civilizations. Rival Muslim dynasties such as the Fatimids of Egypt and the Umayyads of al-Andalus were also major intellectual centres with cities such as Cairo and Córdoba rivaling Baghdad.<5> According to Bernard Lewis, the Caliphate was the first "truly universal civilization," which brought together for the first time "peoples as diverse as the Chinese, the Indians, the people of the Middle East and North Africa, black Africans, and white Europeans."<6>

/... http://en.wikipedia.org/wiki/Islamic_Golden_Age

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...At first, al-Andalus was ruled by governors appointed by the Caliph, most ruling for periods of under three years. However, from 740, a series of civil wars between various Muslim groups in Iberia resulted in the breakdown of Caliphal control, with Yūsuf al-Fihri, who emerged as the main winner, effectively becoming an independent ruler.

In 750, the Abbasids overthrew the Umayyads for control of the great Arab empire. But in 756, the exiled Umayyad prince Abd-ar-Rahman I (later titled Al-Dākhil) ousted Yūsuf al-Fihri to establish himself as the Emir of Córdoba. He refused to submit to the Abbasid caliph, as Abbasid forces had killed most of his family. Over a thirty year reign, he established a tenuous rule over much of al-Andalus, overcoming partisans of both the al-Fihri family and of the Abbasid caliph.

For the next century and a half, his descendants continued as emirs of Córdoba, with nominal control over the rest of al-Andalus and sometimes even parts of western North Africa, but with real control, particularly over the marches along the Christian border, vacillating depending on the competence of the individual emir. Indeed, the power of emir Abdallah ibn Muhammad (circa 900) did not extend beyond Córdoba itself. But his grandson Abd-al-Rahman III, who succeeded him in 912, not only rapidly restored Umayyad power throughout al-Andalus but extended it into western North Africa as well. In 929 he proclaimed himself Caliph, elevating the emirate to a position competing in prestige not only with the Abbasid caliph in Baghdad but also the Shi'ite caliph in Tunis—with whom he was competing for control of North Africa.

The period of the Caliphate is seen by Muslim writers as the golden age of al-Andalus. Crops produced using irrigation, along with food imported from the Middle East, provided the area around Córdoba and some other Andalusī cities with an agricultural economic sector by far the most advanced in Europe. Among European cities, Córdoba under the Caliphate, with a population of perhaps 500,000, eventually overtook Constantinople as the largest and most prosperous city in Europe.<15> Within the Islamic world, Córdoba was one of the leading cultural centres. The work of its most important philosophers and scientists (notably Abulcasis and Averroes) had a major influence on the intellectual life of medieval Europe.

Muslims and non-Muslims often came from abroad to study in the famous libraries and universities of al-Andalus after the reconquista of Toledo in 1085. The most noted of these was Michael Scot (c. 1175 to c. 1235), who took the works of Ibn Rushd ("Averroes") and Ibn Sina ("Avicenna") to Italy. This transmission was to have a significant impact on the formation of the European Renaissance.

The Córdoba Caliphate effectively collapsed during a ruinous civil war between 1009 and 1013, although it was not finally abolished until 1031. Al-Andalus then broke up into a number of mostly independent states called taifas. These were generally too weak to defend themselves against repeated raids and demands for tribute from the Christian states to the north and west, which were known to the Muslims as "the Galician nations",<16> and which had spread from their initial strongholds in Galicia, Asturias, Cantabria, the Basque country and the Carolingian Marca Hispanica to become the Kingdoms of Navarre, León, Portugal, Castile and Aragon and the County of Barcelona. Eventually raids turned into conquests, and in response the taifa kings were forced to request help from the Almoravids, Islamic rulers of the Maghreb. Their desperate maneuver would eventually fall to their disadvantage, however, as the Moravids they had summoned from the south went on to conquer many of the taifa kingdoms.

/... http://en.wikipedia.org/wiki/Al-Andalus

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...The Jews of Hispania had been utterly embittered and alienated by Catholic rule by the time of the Muslim invasion. To them, the Moors were perceived as, and indeed were, a liberating force. Wherever they went, the Muslims were greeted by Jews eager to aid them in administering the country. In many conquered towns the garrison was left in the hands of the Jews before the Muslims proceeded further north. Thus were initiated the two centuries of Muslim rule in the Iberian peninsula which became known as the "Golden Age" of Sephardi Jewry.

With the victory of Tariq ibn Ziyad in 711, the lives of the Sephardim changed dramatically. In spite of the stigma attached to being dhimmis (non-Muslim members of monotheistic faiths), the coming of the Moors was by-and-large welcomed by the Jews of Iberia.

Both Muslim and Christian sources tell us that Jews provided valuable aid to the invaders. Once captured, the defense of Cordoba was left in the hands of Jews, and Granada, Malaga, Seville, and Toledo were left to a mixed army of Jews and Moors. Although in some towns Jews may have been helpful to Muslim success, they were of limited impact overall. However it was frequently claimed by Christians in later centuries that the fall of Iberia was due in large part to Jewish perfidy.

In spite of the restrictions placed upon the Jews as dhimmis, life under Muslim rule was one of great opportunity and Jews flourished as they did not under prior Christian Visigoths. Many Jews came to Iberia, seen as a land of tolerance and opportunity, from the Christian and Muslim worlds. Following initial Arab victories, and especially with the establishment of Umayyad rule by Abd al-Rahman I in 755, the native Jewish community was joined by Jews from the rest of Europe, as well as from Arab lands, from Morocco to Babylon. Thus the Sephardim found themselves enriched culturally, intellectually, and religiously by the commingling of diverse Jewish traditions.

Arabic culture, of course, also made a lasting impact on Sephardic cultural development. General re-evaluation of scripture was prompted by Muslim anti-Jewish polemics and the spread of rationalism, as well as the anti-Rabbanite polemics of Karaite sectarianism (which was inspired by various Muslim schismatic movements). The cultural and intellectual achievements of the Arabs, and much of the scientific and philosophical speculation of Ancient Greek culture, which had been best preserved by Arab scholars, was made available to the educated Jew. The meticulous regard which the Arabs had for grammar and style also had the effect of stimulating an interest in philological matters in general among Jews. Arabic came to be the main language of Sephardic science, philosophy, and everyday business, as had been the case with Babylonian geonim. This thorough adoption of the Arabic language also greatly facilitated the assimilation of Jews into Moorish culture, and Jewish activity in a variety of professions, including medicine, commerce, finance, and agriculture increased.

By the ninth century, some members of the Sephardic community felt confident enough to take part in proselytizing amongst Christians. Most famous were the heated correspondences sent between Bodo Eleazar, a former Christian deacon who had converted to Judaism in 838, and the Bishop of Córdoba Paulus Albarus, who had converted from Judaism to Christianity. Each man, using such epithets as "wretched compiler", tried to convince the other to return to his former faith, to no avail.

The Golden Age is most closely identified with the reign of Abd al-Rahman III (882-942), the first independent Caliph of Cordoba, and in particular with the career of his Jewish councilor, Hasdai ibn Shaprut (882-942). Within this context of cultural patronage, studies in Hebrew, literature, and linguistics flourished.

Hasdai benefitted world Jewry not only indirectly by creating a favorable environment for scholarly pursuits within Iberia, but also by using his influence to intervene on behalf of foreign Jews: in his letter to Byzantine Princess Helena, he requested protection for the Jews under Byzantine rule, attesting to the fair treatment of the Christians of al-Andalus, and perhaps indicating that such was contingent on the treatment of Jews abroad...

/... http://en.wikipedia.org/wiki/Sephardi_Jews

[ozymandius]

6. In financial regs debate, senators look to details

With Republicans ceding the way for debate, legislation to impose sweeping new controls on financial institutions faces a test from both parties. Some Democrats seek tougher restrictions on banks; some Republicans aim to ease consumer protection provisions.

Senate officials expect about two weeks of votes on amendments that could change the bill in substantial ways.

The legislation, aimed at preventing a recurrence of the crisis that knocked the nation's financial system to its knees in 2008, advanced Wednesday when Republicans abandoned their blockade in the Senate. The House has already passed its version.

The bill would establish a nine-member Financial Services Oversight Council, including the treasury secretary, the Federal Reserve chairman and the heads of regulatory agencies to monitor markets for threats, such as the bubble in housing prices and mortgage-backed securities that preceded the near-collapse two years ago.

The Federal Reserve would begin policing large bank holding companies and interconnected nonbank institutions whose collapse might pose a threat to the economy. With approval of the council, the Fed could even break up complex companies that posed a grave threat.

Most investment derivatives — such as the hundreds of billions of dollars in complex instruments blamed for accelerating the crisis two years ago — would have to be traded on regulated exchanges.

http://www.google.com/hostednews/ap/article/ALeqM5g7ffRdswXTlfgaQS0FCOZmrvbwcAD9FCIUP80

[Robbien]

9. What details? Are there any left in the bill

ZeroHedge says it best:

It appears the impasse on the financial non-reform bill is over, and now that it has been stripped of anything and everything relevant (not much to begin with), the toothless product is about to be voted on by everyone. The "bill" as it now stands will do nothing but accelerate the collapse and the most spectacular banking system blow up in history.

http://www.zerohedge.com/article/financial-reform-bill-go-floor


The most I hope from the bill is that it doesn't take away too many of the few regulations we have left on the books.

[Demeter]

26. As Long As the Obscenely Wealth Get Blown Up

it will be worth it--and the sooner, the better for the rest of us.

Oklahoma and Arizona are really freaking me out. They obviously have too much time and money down there. Or maybe just not enough sense to get out of the sun.

[Festivito]

8. Debt: 04/27/2010 12,886,315,749,582.96 (UP 5,951,741,177.00) (Tue)

(Up a small amount. Good day.)

(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)
= 8,355,547,299,451.72 + 4,530,768,450,131.24
UP 734,843,937.10 + UP 5,216,897,239.90

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 $3.23 each THAT'S 1B$.
A family of three: Mom, Dad, Child: $9.7, ABOUT TEN BUCKS for a 1B$ 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 13 seconds we net gain another American, so at the end of the workday of the report, there should be 309,154,700 people in America.
http://www.census.gov/population/www/popclockus.html ON 04/09/2010 15:49 -> 309,034,742
Currently, each of these Americans owe $41,682.42.
A family of three owes $125,047.26. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 23 reports in the last 30 to 32 days.
The average for the last 23 reports is 8,714,001,120.75.
The average for the last 30 days would be 6,680,734,192.57.
The average for the last 32 days would be 6,263,188,305.54.
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$/day.
There were 143 reports in 209 days of FY2010 averaging 6.83B$ per report, 4.67B$/day.
Above line should be okay

PROJECTION:
There are 999 days remaining in this Obama 1st term.
By that time the debt could be between 14.3 and 19.1T$.
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)
04/27/2010 12,886,315,749,582.96 BHO (UP 2,259,438,700,669.88 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 +0,976,486,746,071.20 ------------* * * * * * * * * * * * * * * * * * * * * * * * BHO
Endof10 +1,705,347,666,583.68 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Linear Projection

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
04/07/2010 +000,926,408,143.83 ------------********
04/08/2010 +030,863,719,709.59 ------------**********
04/09/2010 -000,215,194,285.06 ---
04/12/2010 -000,193,173,374.30 --- Mon
04/13/2010 -000,086,542,536.22 ----
04/14/2010 +000,857,281,039.39 ------------********
04/15/2010 +039,328,943,525.65 ------------**********
04/16/2010 -000,121,400,113.90 ---
04/19/2010 -017,215,897,730.16 - Mon
04/20/2010 +000,349,194,756.21 ------------********
04/21/2010 +000,180,306,016.37 ------------********
04/22/2010 -015,686,359,446.12 -
04/23/2010 -000,156,047,055.50 ---
04/26/2010 +000,019,005,411.26 ------------******* Mon
04/27/2010 +000,734,843,937.10 ------------********

39,585,087,998.14 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=4358087&mesg_id=4358119

[Festivito]

30. Debt: 04/28/2010 12,876,734,073,745.72 (DOWN 9,581,675,837.24) (Wed)

(Down a small amount. Good day.)

(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)
= 8,355,526,853,326.03 + 4,521,207,220,419.69
DOWN 20,446,125.69 + DOWN 9,561,229,711.55

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 $3.23 each THAT'S 1B$.
A family of three: Mom, Dad, Child: $9.7, ABOUT TEN BUCKS for a 1B$ 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 13 seconds we net gain another American, so at the end of the workday of the report, there should be 309,161,347 people in America.
http://www.census.gov/population/www/popclockus.html ON 04/09/2010 15:49 -> 309,034,742
Currently, each of these Americans owe $41,650.53.
A family of three owes $124,951.59. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 24 reports in the last 30 to 33 days.
The average for the last 24 reports is 7,951,681,247.50.
The average for the last 30 days would be 6,361,344,998.00.
The average for the last 33 days would be 5,783,040,907.27.
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$/day.
There were 144 reports in 210 days of FY2010 averaging 6.71B$ per report, 4.60B$/day.
Above line should be okay

PROJECTION:
There are 998 days remaining in this Obama 1st term.
By that time the debt could be between 14.2 and 18.6T$.
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)
04/28/2010 12,876,734,073,745.72 BHO (UP 2,249,857,024,832.64 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 +0,966,905,070,234.00 ------------* * * * * * * * * * * * * * * * * * * * * * * * BHO
Endof10 +1,680,573,098,263.86 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Linear Projection

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
04/08/2010 +030,863,719,709.59 ------------**********
04/09/2010 -000,215,194,285.06 ---
04/12/2010 -000,193,173,374.30 --- Mon
04/13/2010 -000,086,542,536.22 ----
04/14/2010 +000,857,281,039.39 ------------********
04/15/2010 +039,328,943,525.65 ------------**********
04/16/2010 -000,121,400,113.90 ---
04/19/2010 -017,215,897,730.16 - Mon
04/20/2010 +000,349,194,756.21 ------------********
04/21/2010 +000,180,306,016.37 ------------********
04/22/2010 -015,686,359,446.12 -
04/23/2010 -000,156,047,055.50 ---
04/26/2010 +000,019,005,411.26 ------------******* Mon
04/27/2010 +000,734,843,937.10 ------------********
04/28/2010 -000,020,446,125.69 ----

38,638,233,728.62 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=4360976&mesg_id=4361001

[DemReadingDU]

11. Goldman set to settle SEC fraud case soon

4/29/10 Goldman set to settle SEC fraud case soon

Goldman Sachs may soon settle its fraud case with the U.S. regulator, the New York Post reported on Thursday, opting to end a legal fight rather than endure a repeat of the public flogging it received this week.

The Post report, citing sources familiar with the matter, said Wall Street's top investment bank was mulling closing the fraud case with the U.S. Securities and Exchange Commission (SEC) to limit damage to its reputation.

"It's almost a certainty that there will be a settlement," the paper quoted a source as saying.

Goldman could not immediately be reached for comment in London.

Goldman Chief Executive Lloyd Blankfein and other executives faced a blistering cross-examination from U.S. lawmakers about the company's ethics and behavior toward its clients on Tuesday.

The SEC has filed a civil fraud suit against Goldman, charging that it hid vital information from investors about a mortgage-related security. Goldman has denied the charges.

http://www.reuters.com/article/idUSTRE63Q35320100429

[Demeter]

27. wimps. Doing God's Work, My Eye!

[Dr.Phool]

15. Had to share this

[AnneD]

20. Now I know the world is coming to an end....

dogs mating with cats. LOL LOL LOL LOL Priceless Dr Pool priceless.

[Dr.Phool]

21. I think it's kind of a black widow thing.

She ate him after they mated.

[AnneD]

Well,

that sure puts a damper on the whole concept of the dinner date.

[AnneD]

31. Well,

that sure puts a damper on the whole concept of the dinner date.

[moroni]

18. FDA Approves Provenge - Dendreon Corp

Provenge is a prostate cancer vaccine.

<http://www.thestreet.com/story/10740953/1/dendreon-receives-fda-approval-for-provenge.html?puc=_tscrss>

[RUMMYisFROSTED]

22. If you really think about it...

[Demeter]

28. As Long as the Pumps Are Running Full Speed All Day Long, No Need to Despair

It's when the pumping stops....