STOCK MARKET WATCH, Monday September 20

[ozymandius]

Source: du

STOCK MARKET WATCH, Monday September 20, 2010

AT THE CLOSING BELL ON September 17, 2010

Dow 10,607.85 +13.02 (+0.12%)
Nasdaq 2,315.61 +12.36 (+0.53%)
S&P 500 1,125.59 +0.93 (+0.08%)
Gold future... 1,278 +0.70 (+0.06%)
10-Yr Bond... 2.79 +0.02 (+0.80%)
30-Year Bond 3.94 +0.01 (+0.31%)

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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 Report

10:00 NAHB Market Index Sep
Briefing.com 13
Consensus 14
Prior 13

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

[rfranklin]

32. Home-builder index stuck at multi-month low

Sept. 20, 2010, 10:00 a.m. EDT

Home-builder index stuck at multi-month low
WASHINGTON (MarketWatch) -- The National Association of Home Builders/Wells Fargo housing market index remained at 13 in September, tying the August reading for the worst showing since March 2009 and coming in below MarketWatch-compiled economist estimates for a reading of 14. At 13, the index remains far below the 50 line that indicates that more builders view conditions as good than poor. There hasn't been a reading above 50 since April 2006

[ozymandius]

2. Oil hovers below $74 as traders eye US economy

SINGAPORE – Oil prices hovered below $74 a barrel Monday in Asia as traders look to indicators on the U.S. economy and crude inventories for clues about the strength of demand.

Benchmark crude for October delivery was up 5 cents to $73.71 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 91 cents to settle at $73.66 on Friday.

Crude inventories in the U.S. are near record highs, reflecting an uneven recovery from last year's recession. Traders will be eyeing weekly supply figures along with the latest housing and job claims numbers later this week.

In other Nymex trading in October contracts, heating oil was steady at $2.099 a gallon and gasoline gained 0.92 cent to $1.928 a gallon. Natural gas fell 5.9 cents to $3.965 per 1,000 cubic feet.

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

---

The story relates information from a report that outlines how traders have been using oil as a surrogate for overall economic activity, commodities and currency.

[ozymandius]

3. Optimism, worries amid new rush to tap oil in West

CHEYENNE, Wyo. – A well named Jake and a controversial drilling technique are fueling a Western oil rush, raising hopes for economic revival and questions about the environment — and who's going to share in the wealth.

Not many wells have been drilled yet, but just about everything else is in place for an oil boom in eastern Wyoming, northern Colorado and western Nebraska, where the Niobrara Shale and its hard-to-tap crude lay nearly two miles underground.

As in the Bakken, drilling in the Niobrara wouldn't be profitable without hydraulic fracturing, or fracking, which some have blamed for groundwater contamination. It involves pumping a pressurized mix of water, sand and chemicals underground to crack open fissures and improve the flow of oil or gas.

The situation is complicated by the fact that many people don't own the rights to minerals beneath their land. Whoever does has a right to put an oil well in your yard, with or without your permission, and doesn't have to share the profits — just the pollution.

http://news.yahoo.com/s/ap/20100919/ap_on_bi_ge/us_western_oil_rush

[ozymandius]

4. Fed expected to wait and see as economy convalesces

WASHINGTON (AFP) – Glimmers of a revived economic recovery are expected to give the US Federal Reserve some breathing space when its top committee meets Tuesday, avoiding a renewed battle inside the central bank.

Members of the Fed's policymaking panel will gather for the last time before November's mid-term elections, with the economic outlook transformed since their last meeting from apocalyptic to vaguely promising.

Any move to increase stimulus spending would likely deepen divisions, especially if the case for action was not clear cut.

Given this many analysts believe a shift in policy will not now come until the Fed's November or December meetings, and will be contingent on signs that the economy is in deep distress.

http://news.yahoo.com/s/afp/20100919/ts_alt_afp/useconomybankrate

[ozymandius]

5. Slowing recovery a policy headache

When the financial crisis erupted in 2007, authorities around the world began throwing nearly everything they had at the problem to avoid a re-run of the Great Depression.

This time, if things get worse, they won't have as many tricks left in the bag to jump-start their faltering economies. What's more, whatever medicine they prescribe may well come with unpleasant side effects.

For the Federal Reserve, the medicine in question could be more large-scale purchases of U.S. Treasury bonds, though officials are unlikely to unleash that option at their policy-setting meeting on Tuesday.

Officials at the U.S. central bank disagree on many fundamental questions: How dark is the outlook? What should the threshold for further support be? Would pumping more money into the financial system be effective or could it do more harm than good?

http://news.yahoo.com/s/nm/20100919/bs_nm/us_economy_weekahead_outlook

[fasttense]

12. Economy convalesces? More likely the economy will convulse. n/t

[Tansy_Gold]

19. Convulse . . . or evanesce . . . or some ugly combination of the two. . . n/t

[ozymandius]

6. Asian markets subdued amid week of holidays

BANGKOK – Asian stock markets mostly posted subdued gains Monday amid a week punctuated by holidays in Japan and other major regional markets. European shares made moderate gains in early trading.

The indifferent session in Asia came after Wall Street gave up most of its advance on Friday to close slightly higher. The initial rise was triggered by better-than-expected earnings from technology leaders Oracle Corp. and Research in Motion Ltd. but a lower oil price and a decline in a measure of consumer confidence kept a lid on buying.

In early European trade, France's CAC-40 rose 0.8 percent to 3,751.24, Germany's DAX advanced 0.5 percent to 6,241.01 and Britain's FTSE 100 climbed 0.9 percent to 5,558.03. Wall Street was set to open higher with Dow futures up 29 points, or 0.3 percent, at 10,567.00 and S&P futures ahead by 3.5, or 0.3 percent, to 1,123.20.

In Asian trading, the Shanghai Composite Index slipped 0.4 percent to 2,588.71 while South Korea's Kospi gained 0.3 percent to 1,832.63. Hong Kong's Hang Seng added less than 0.1 percent to 21,977.34.

http://news.yahoo.com/s/ap/20100920/ap_on_bi_ge/world_markets

[ozymandius]

7. Fed to Cut Outlook, Europe Risks Grow, El-Erian Says (Update2)

Sept. 20 (Bloomberg) -- The Federal Reserve will cut its growth forecasts and Europe’s economic bailout is failing, said Mohamed A. El-Erian, chief executive at Pacific Investment Management Co., which runs the world’s biggest bond fund.

U.S. central bankers may wait beyond their meeting tomorrow to announce additional steps to sustain the expansion, El-Erian wrote in an opinion piece on Pimco’s website. Slower-than- expected economic growth has fueled speculation the Fed will expand its program of Treasury purchases as it tries to keep borrowing costs low. Industrialized nations are eager to let their currencies weaken to aid their economies, he said.

Concerns about Europe’s solvency are intensifying, pushing up risk measures for Greece, Ireland, Portugal and Spain to “at or near danger levels,” El-Erian wrote in his piece, which was first published yesterday on ft.com’s ftalphaville website section. “The failure to reduce risk spreads means that the public sector bailout is not working.”

Contracts insuring against default on Ireland have climbed to 422 basis points, according to data-provider CMA, the most since the data started in 2008. The figure is almost 10 times the cost for protecting U.S. debt.

http://noir.bloomberg.com/apps/news?pid=20601087&sid=a5gjq.nwPM70&pos=4

[ozymandius]

8. As Usual, Mitch McConnell is full of shit.

Sept. 20 (Bloomberg) -- Senate Republican leader Mitch McConnell says President Barack Obama wants to subject half of all small-business income to a tax increase, a move that he says would strike a blow at the U.S. job-creation engine.

McConnell’s numbers only add up if you consider people like billionaire investor George Soros, most movie stars and Obama himself small-business owners, tax experts say.

That’s because the lawmaker is basing his figure on a broad definition of the term that experts say includes authors, actors and athletes who employ few if any workers. It also encompasses businesses that many people wouldn’t consider small, such as Soros’s hedge-fund firm and major law partnerships.

McConnell and other Republicans have thrust small business to the center of the fight over whether to extend Bush-era tax cuts or limit the break to couples earning less than $250,000 as Obama wants. The tax cuts for all income levels will expire Dec. 31 unless Congress acts.

http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=a64aGL54LITY

[ozymandius]

9. Who Gets What If Tax Cuts Are Extended

From the NYT via Ritholtz:

The NYTimes graphic department has your Sunday morning chart porn regarding the extension of tax cuts. Its an illustration fueled by data from the Tax Policy Center, a nonpartisan research organization.

The graphic shows how much Americans have gotten so far broken down by income groups. And it calculates that extending all of the Bush Tax Cuts for the next decade will cost another $2.7 trillion (through 2020).

This post has a beautifully structured graphic that displays information in pie chart form. Click through to see who is getting more pie than anyone else, in relative terms, and who pays the most proportionally. (Hint: It's the middle class tax bracket based on the average income of a professional couple.)

[tclambert]

14. I think their graphs are wrong. SS tax has an income cap. And unearned income gets tax breaks.

I've seen other calculations that show the truly rich, with their massive unearned incomes (capital gains, for instance), pay a lower effective rate in federal income taxes and FICA taxes than middle class people.

A shocking thing to me is these charts show 29% of Americans are living on less than $20,000 per year.

[Tansy_Gold]

21. Re: That 29%

I looked at the graph and I have to agree it's quite flawed.

It identifies the 1000-person sample as those filing individual tax returns, those filing joint returns (is that one or two people out of the 1000?), and those who don't make enough to file a return. How are they accounting for dependents? I realize they're just putting out "averages," but shouldn't they explain how they arrived at those "averages"?

And as for that 29%, as disturbing as it is, it doesn't take into consideration the various "safety net" subsidies or living arrangements. A college student making $8,000 at a part-time job, a single parent struggling at Walmart for $8/hour, non-married partners sharing expenses and each making $18,000, a retiree on SS with a part-time job that brings in $10,000 -- big differences.

Altogether, I think it's a confusing and distorting graph.

But that's just my opinion.




TG, NTY

[tclambert]

11. McConnell's lies can attract believers because this generation has no Walter Cronkite.

In olden days, we trusted newsmen. (There weren't any newswomen yet.) A poll once identified Cronkite as the most trusted man in America. People trusted Huntley and Brinkley pretty much, too. Can any media talking head come close to that today?

So who will tell people the truth? (Besides Jon Stewart?) Who will tell people the truth and be believed? Who will provide analysis that the masses will trust? We don't all have the time nor the inclination to do our own analysis. Without reliable sources of news, we must rely on political partisans. Can civilization survive if forced to trust politicians?

[Tansy_Gold]

23. This generation has Billo and Glenn, who are as trusted by their

followers and Cronkite was trusted by his.

And yes, that's a scary thought.




TG, NTY

[tclambert]

48. Dammit, Tansy, ya gotta save that scary stuff for Halloween.

[Roland99]

13. Oh, just more left-wing rag nonsense. Oh wait...Bloomberg?!

:)

[Demeter]

17. Since He Has no Rhetorical Skills (Hot Air)

He has to be full of something....

[UpInArms]

57. just remember, in republicanspeak, a small bizness has a gross of over 5 million dollars

now that is NOT a small biz

:sigh:

[ozymandius]

10. Have a nice day, folks.

:donut: :donut: :donut: Time for me to go. Fall Break is over.

:hi:

[Festivito]

15. Debt: 09/16/2010 13,464,896,653,374.11 (DOWN 33,130,295,762.45) (Thu)

(Down a lot. Good day.)
All over the state, lost a day of updating.
(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)
= 8,970,475,166,793.21 + 4,494,421,486,580.90
DOWN 36,646,694,679.28 + UP 3,516,398,916.83

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 310-Million person America.
If every American, man, woman and child puts in $3.22 THAT'S 1B$, and $3,224.78 makes 1T$.
A family of three: Mom, Dad, Child: $9.67, ABOUT TEN BUCKS for a 1B$ 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 310,098,454 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 $43,421.36.
A family of three owes $130,264.08. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 23 reports in the last 30 to 31 days.
The average for the last 23 reports is 4,691,411,523.16.
The average for the last 30 days would be 3,596,748,834.42.
The average for the last 31 days would be 3,480,724,678.47.
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$/day.
There were 241 reports in 351 days of FY2010 averaging 6.45B$ per report, 4.43B$/day.
Above line should be okay

PROJECTION:
There are 857 days remaining in this Obama 1st term.
By that time the debt could be between 14.6 and 17.9T$.
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)
09/16/2010 13,464,896,653,374.11 BHO (UP 2,838,019,604,461.03 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 +1,555,067,649,862.40 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
Endof10 +1,617,093,140,170.30 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Linear Projection

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
08/26/2010 +015,329,518,146.29 ------------**********
08/27/2010 +000,056,877,341.30 ------------*******
08/30/2010 -000,093,227,691.02 ---- Mon
08/31/2010 +077,584,457,403.73 ------------**********
09/01/2010 -002,618,329,750.58 --
09/02/2010 +008,773,043,668.95 ------------*********
09/03/2010 +000,065,447,919.59 ------------*******
09/07/2010 +000,022,960,425.76 ------------******* Tue
09/08/2010 +000,399,922,819.12 ------------********
09/09/2010 +008,813,573,460.79 ------------*********
09/10/2010 -000,055,297,184.77 ----
09/13/2010 +000,091,299,524.00 ------------******* Mon
09/14/2010 +000,150,853,245.21 ------------********
09/15/2010 +064,417,149,283.94 ------------**********
09/16/2010 -036,646,694,679.28 -

136,291,553,933.03 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=4543519&mesg_id=4546054

[Festivito]

59. Debt: 09/17/2010 13,467,745,270,382.77 (UP 2,848,617,008.66) (Fri)

(Down a little. Good day.)
Three trips to Dundee and need a friend to cover for me.
(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)
= 8,970,272,131,896.87 + 4,497,473,138,485.90
DOWN 203,034,896.34 + UP 3,051,651,905.00

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 310-Million person America.
If every American, man, woman and child puts in $3.22 THAT'S 1B$, and $3,224.71 makes 1T$.
A family of three: Mom, Dad, Child: $9.67, ABOUT TEN BUCKS for a 1B$ 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 310,105,100 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 $43,429.62.
A family of three owes $130,288.85. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 23 reports in the last 30 to 31 days.
The average for the last 23 reports is 4,478,496,045.31.
The average for the last 30 days would be 3,433,513,634.74.
The average for the last 31 days would be 3,322,755,130.39.
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$/day.
There were 242 reports in 352 days of FY2010 averaging 6.44B$ per report, 4.43B$/day.
Above line should be okay

PROJECTION:
There are 856 days remaining in this Obama 1st term.
By that time the debt could be between 14.6 and 17.9T$.
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)
09/17/2010 13,467,745,270,382.77 BHO (UP 2,840,868,221,469.69 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 +1,557,916,266,871.00 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
Endof10 +1,615,452,947,181.58 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Linear Projection

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
08/27/2010 +000,056,877,341.30 ------------*******
08/30/2010 -000,093,227,691.02 ---- Mon
08/31/2010 +077,584,457,403.73 ------------**********
09/01/2010 -002,618,329,750.58 --
09/02/2010 +008,773,043,668.95 ------------*********
09/03/2010 +000,065,447,919.59 ------------*******
09/07/2010 +000,022,960,425.76 ------------******* Tue
09/08/2010 +000,399,922,819.12 ------------********
09/09/2010 +008,813,573,460.79 ------------*********
09/10/2010 -000,055,297,184.77 ----
09/13/2010 +000,091,299,524.00 ------------******* Mon
09/14/2010 +000,150,853,245.21 ------------********
09/15/2010 +064,417,149,283.94 ------------**********
09/16/2010 -036,646,694,679.28 -
09/17/2010 -000,203,034,896.34 ---

120,759,000,890.40 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=4546259&mesg_id=4546306

[Demeter]

16. I Don't Know About You All, But I Feel Hung Over

Too much weekend in my Weekend, if you know what I mean.

And I didn't touch a drop of alcohol, either. sigh

[Po_d Mainiac]

22. How to access FT articles..no registration, no limit

}( }(

Copy/paste the headline into Google and the hit the link from the Google results.

No subscription box appears, but the story does.

As an example:

Copy: US groups warn on lawsuit proposals into the search bar of Google...select the FT story and voila

[Demeter]

27. Like a Terrier with a Rat, Eh?

good job!

[Demeter]

18. This is hysterical!

[Roland99]

24. ha! nice one. This one reminds me of my networking days....

[Papa Boule]

20. Good morning everyone. Got a bicycle yet?

I mean, you know. Just in case.

[Po_d Mainiac]

25. Pretty bad when U must resort to

peddling your ass around town.
:hide:

[Tansy_Gold]

26. Pedaling. n/t

:evilgrin:

[Po_d Mainiac]

39. pun was intentional

:evilgrin:

[Demeter]

29. Better than paddling, IMO

[Demeter]

28. I'd have to get knees, first

Bicycles. Bah

[Papa Boule]

34. No problem anymore...

E-bikes! And E-trikes! :)

http://www.electric-bikes.com/">http://www.electric-bikes.com/

http://www.schwinnelectricbikes.com/">http://www.schwinnelectricbikes.com/

[DemReadingDU]

38. On 60 Minutes last night

Former President Carter and his wife were each using a 3-wheel scooter
http://www.cbsnews.com/video/watch/?id=6881911n&tag=related;photovideo


full video story
http://www.cbsnews.com/stories/2010/09/16/60minutes/main6872344.shtml?tag=currentVideoInfo;segmentTitle

[Tansy_Gold]

35. I love bikes!!!

Mine is an el cheapo purchased when I worked at Walmart and not touched lo these past five years. I was looking at new ones at Costco the other day. Whoa! I think I need to find someone to put the old one back in shape. . . ..


Knees, shmees.. . ..


TG, NTY

[DemReadingDU]

33. Yeh!

Just in case.

[Ghost Dog]

44. I'm working on organising something like this:

(1936, pine on oak):

[Po_d Mainiac]

54. A very nice "black hole" n/t

[Papa Boule]

55. Beautiful canoe stern

Just a lovely, elegant design overall. And built out of wood too!

[Ghost Dog]

60. Mmm. She'd make a quite eco-friendly eco-mobile home

on a budget, involving recurring boatyard and mooring expenses and hands-on maintenance from yours truly.

It loooks like that rudder needs to be re-hung (and maybe re-made) for a start, and iron keel-bolts examined... Probably an upgrade to the diesel engine's alternator/generator integrated to a modern wind/solar ship's DC/AC grid.

Timber and caulking materials, epoxy resin for the decks, rig and rigging,...

Yup. A nice 'endless black hole' of a project (for the twilight years to come) :).

[TalkingDog]

30. Thought you guys would find this interesting

http://www.ft.com/cms/s/c20be1b0-c283-11df-956e-00144feab49a,Authorised=false.html?_i_location=http://www.ft.com/cms/s/0/c20be1b0-c283-11df-956e-00144feab49a.html&_i_referer=

The European Central Bank intervened to stabilise the Irish bond markets on Friday after a report by a leading UK bank triggered investor fears that the country might turn to the international community for a multibillion-euro bail-out.

[TalkingDog]

31. Oh...and my snarky response to the new "logo"

later....

[Tansy_Gold]

36. + a brazillion! You need to make this a thread of its own. Seriously.

[Demeter]

40. Perfect!

You have to admire the copy writers who sold this lemon to the Party hacks.

Did none of them have the wit to see just how stupid it was, and how easily graffiti could pervert it?

[Roland99]

41. Nice!

[tclambert]

49. Most excellent!

I salute you.

[jtuck004]

37. Wow - a whole room of disingenuous horses asses on CNBC

Waiting to jeer the pres. All of them in suits, all of them with money.

Every single one of them is singing the "tax cuts" happy song, saying such a policy will create jobs. What an utter load of bs. The ONLY thing that will create jobs is demand. The only thing tax cuts will do is let wealthy people hang on to their money, especially in the top 2%, so their investments in developing countries will continue to bring them the returns they expect, while they watch the country crumble around them and try to figure the best country to move to when it is time.

Yet people watch this crap without an understanding they those suits have a whole 'nother agenda than helping them find a job.

[CatholicEdHead]

42. Post-Town Hall Analysis is showing a meltdown

by many of the hosts and reporters. Some are trying to keep it reasonable, some are going off the deep end.

[jtuck004]

43. Deep-enders seem to not have listened, they just wanted their view out.

And it is "cut taxes, consequences be damned, because we think it will be good for us".

It is simply not reasonable or fair to continue a tax DISCOUNT for a person making a
half-million, a million, a billion dollars a year while millions of people are living
in poverty in their own country.

[tclambert]

50. They aren't even investing in that! They are sitting on cash.

The most recent article I saw on sideline cash estimated it at $2 trillion. If the rich and big corporations wanted to create jobs, they already have plenty of cash to do it with. What they don't have is a convincing business case for hiring. That requires CUSTOMERS with money. You don't hire workers to burn up your excess cash. You hire them to make more money, by getting it from CUSTOMERS.

[DemReadingDU]

45. Funny video: P.R.I.N.T. Money

A bit old, but first time I have seen this funny short video
:)

Parody of the Free Credit Report.com "New Car" ad featuring U.S. financial heads Ben Bernanke, Hank Paulson, and Timothy Geithner. Our boys have fallen on hard times, and aren't the fiduciary studs they might once have been.

http://www.youtube.com/watch?v=gnkMmUsi4Gc&feature=player_embedded

[StarburstClock]

46. "The Recession Is Over", just in time for Nov. elections

It's start up again in Dec. as "economists" reformulate their numbers, again. I wonder what's actually worse, hanging out with witches or economists? Of course neither has to do with anything but reactions to pure propaganda, a Pavlovian response to Goebbel-esk stories invented by a corrupt media that tries to sell the sit-com idea of "tension" in every episode.

I guess "the recession is over" freaks haven't seen their latest health insurance rate increases or read about the number of jobless people. They probably didn't read about 80 fires going at once in Detroit because the city didn't even have the resources to put them out either. Yes, it's all happy happy joy joy from here on out, as Good Morning America recites wonderful stories about how well the Tea Bagger movement is doing. No need to focus on crumbling infrastructures and entire countries like Greece being defrauded by the very same frauds ruining America's finances now. No, they'll just show clips of oddly tanned republicans with no ideas about anything so TV land can stir up false controversies and create tension so they can attempt to sell cars and drugs during commercial breaks.

Yes, all the bad times are over and good times are here again. Vote for me, Mr. Goodtimes!

[Roland99]

47. No better way to market a lazy bull. Here are the closing numbers....

Dow10,754 +146 +1.37%
Nasdaq 2,356 +40 +1.74%
S&P 500 1,143 +17 +1.52%
GlobalDow 1,929 +25 +1.30%
Gold 1,279 +2 +0.15%
Oil 74.60 +0.94 +1.28%


What was my prediction a few weeks ago? A DJIA pushing 11,500 or a bit higher? I'll have to search that one out.

[Demeter]

53. And the Volume on That? About 4 bllion shares traded

[Roland99]

56. See? The Everyman is back in the game. All is well.

[Demeter]

58. That's a rather low volume, par for the summer

Not the bottom from the crash, but...

[Roland99]

61. Geez...has it been that long that I've really paid attention to volume that 4 Billion is a light day

[tclambert]

51. Are you implying that economists float?

Welcome to DU and SMW, btw.

Seriously, what the economists mean is GDP has grown since June, 2009. Technically, that's their definition of the end of a recession. But to everyone else, that's when the recession hit bottom. Normal people will consider the recession over when we achieve full recovery . . . in 2 or 3 years. I won't be happy about the economic situation until unemployment drops below 5%.

What I really find amusing is that the market is up on "news" reports of what happened over a year ago!

[Demeter]

52. Pace Yourself, Pardner

It's a long ride to Chisholm.