STOCK MARKET WATCH, Thursday September 30

[ozymandius]

Source: du

STOCK MARKET WATCH, Thursday September 30, 2010

AT THE CLOSING BELL ON September 29, 2010

Dow 10,835.28 -22.86 (-0.21%)
Nasdaq 2,376.56 -3.03 (-0.13%)
S&P 500 1,144.73 -2.97 (-0.26%)
10-Yr Bond... 2.49 -0.01 (-0.56%)
30-Year Bond 3.67 -0.01 (-0.35%)

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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 GDP - Third Estimate Q2
Briefing.com 1.6%
Consensus 1.6%
Prior 1.6%

08:30 GDP - Deflator Q2
Briefing.com 1.9%
Consensus 1.9%
Prior 1.9%

08:30 Initial Claims 09/25
Briefing.com 450K
Consensus 457K
Prior 465K

08:30 Continuing Claims 09/18
Briefing.com 4450K
Consensus 4450K
Prior 4489K

09:45 Chicago PMI Sep
Briefing.com 55.0
Consensus 56.0
Prior 56.7

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

[rfranklin]

25. Weekly jobless claims drop 16,000 to 453,000

Weekly jobless claims drop 16,000 to 453,000
WASHINGTON (MarketWatch) - The number of people who filed initial claims for state unemployment benefits fell 16,000 to 453,000 in the latest week, putting new claims back to where they were at the start of 2010, according to U.S. Labor Department data. Economists polled by MarketWatch had expected initial claims to rise to a seasonally adjusted 460,000 in the week ended Sept. 25. Claims for last week were revised up by 4,000 to 469,000. The four-week moving average of new claims fell 6,250 to 458,000, the lowest level since late July. Continuing claims dropped 83,000 to 4.46 million in the week ended Sept. 18. Altogether, 8.89 million people were getting some kind of benefit in the week ended Sept. 11, down from 9.18 million in the prior week.

Pop the champagne corks! Recession is over! Happy days are here again!

(As we slowly swirl around the rim and head down the drain)

[ozymandius]

2. Oil hovers below $78 after US crude supply drop

SINGAPORE – Oil prices hovered below $78 a barrel Thursday in Asia after strong gains the previous day on a drop in U.S. crude supplies, a sign demand may be improving.

The Energy Department said commercial crude inventories decreased by 500,000 barrels to 357.9 million barrels, while analysts surveyed by Platts, the energy information arm of McGraw-Hill Cos., had forecast an increase of 2.2 million barrels. The total was about 5.7 percent above year-ago levels.

Crude in storage had increased in recent weeks, dashing investor hopes that demand would rebound as the U.S. economy recovers from last year's recession. Some analysts expect robust demand growth in emerging economies will help offset sluggish consumption in developed countries.

In other Nymex trading in October contracts, heating oil fell 0.30 cent to $2.188 a gallon and gasoline held at $1.995 a gallon. November natural gas rose 1.1 cents to $3.973 per 1,000 cubic feet.

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

[ozymandius]

3. Bernanke: Fed, others working on overhaul rules

WASHINGTON – The Federal Reserve is working closely with other regulators to put into effect the most sweeping overhaul of U.S. financial rules since the Great Depression, Fed Chairman Ben Bernanke is telling a Senate panel.

The new law, enacted in July, toughens government oversight of Wall Street and banks, provides stronger protections for consumers and gives the Fed and other regulators new powers to restrain risky financial practices. It's aimed at preventing another financial crisis like the one that struck with force two years ago and plunged the country into a deep recession.

In his testimony prepared for Thursday's hearing, Bernanke said the Federal Reserve is working with the Treasury Department to develop ways for regulators to best detect financial dangers that could damage the economy. And the Fed is helping Treasury identify companies that are so big and so interconnected that their failure could take down the entire financial system. Those companies — which are likely to include Wall Street firms, big hedge funds and insurance companies — would be subject to tougher regulations.

At the same time, the Fed is transferring many of its consumer protection responsibilities to a new watchdog agency created by the law. The Bureau of Consumer Financial Protection is housed within the Fed and bankrolled by the Fed, but Bernanke has no authority over it.

http://news.yahoo.com/s/ap/20100930/ap_on_bi_ge/us_financial_overhaul

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I wonder if Bernanke's lack of authority over the BCFP extends to the agency's funding.

[ozymandius]

4. Senate confirms 2 to Fed Board of Governors

WASHINGTON – The Senate has confirmed Sarah Bloom Raskin of Maryland and Janet L. Yellen of California to the Federal Reserve Board.

Raskin is the Maryland commissioner of financial regulation. She would expand the Fed's expertise over financial regulation, including consumer issues.

http://news.yahoo.com/s/ap/20100930/ap_on_bi_ge/us_senate_fed_nominees

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Peter Diamond, an MIT Economics professor, has not yet been subject to a Senate vote.

[ozymandius]

5. Family Feud: Fed Officials Differ Over New Aggressive Action

Federal Reserve policymakers differed Wednesday over whether a new round of aggressive action would help the sluggish recovery, have little impact or cause long-term harm.

"Current economic conditions — an unemployment rate near 10%, sluggish growth and undesirably low inflation — together constitute a serious economic problem," Boston Federal Reserve head Eric Rosengren said.

He added that the Fed should respond to slow recoveries "vigorously, creatively, thoughtfully and persistently, as long as we have options at our disposal. And we do have options."

At their Sept. 21 meeting, Fed policymakers suggested that heading off deflation risks would trigger new aggressive action. That has sent the dollar on a further decline and pushed safe-haven gold to above $1,300 per troy ounce.

http://news.yahoo.com/s/ibd/20100929/bs_ibd_ibd/548894

[Papa Boule]

10. Wait a minute

They're identifying "companies that are so big and so interconnected that their failure could take down the entire financial system," and instead of breaking them up, the solution is to make them subject to "tougher regulations."

Well okay then.

[tclambert]

12. I still say we need new anti-trust laws. Go ahead and make it illegal to be too big,

especially too big too fail. Shake 'em up, break 'em up. A good marketplace requires real competition, which requires the opportunity to fail.

[Po_d Mainiac]

18. +100

[TexasObserver]

21. All good ideas, but even so, a stronger market is better than a weaker one.

We do need reforms in the stock market, and we need reforms regarding the concentration of businesses that should be competing. However, this thread is about the state of the stock market. It's improving, and that's good for the party in power.

[Dr.Phool]

24. No, this thread is about the state of the economy.

And sometimes, dogs.

The economy is not the stock market, and most regulars here think the stock market is a rigged casino. We tend to look at the underlying factors, and how they interact with the real economy.

[TexasObserver]

31. You can look at it however you wish, but that doesn't make your opinions valid.

If you want to think the stock market is a rigged casino, don't invest in it.

If you want to think the stock market doesn't heavily impact the economy, that's your option. I'm not similarly limited, however.

[Dr.Phool]

35. We've fried plenty of fish over here.

We were looking at the collapse almost a year before it happened. We didn't listen Greenspan's, or Bernanke's or Timmeh's bullshit.

The Dow can still climb to 30,000, but with real unemployment approaching 20%, no amount of happy talk is going to convince people that the economy is strong and getting stronger.

As far as investing in it, I'm for the most part, completely out. The last will be out by next week. I believe the S&P is going to be close to it's low of 666 by years end.

Here's a few predictions to digest.
http://theautomaticearth.blogspot.com/2010/09/september-28-2010-graphic-peek-into-our.html


And for some further reading on rigged statistics

http://www.tampabay.com/news/article473596.ece

The article is two years old. It's an excerpt from Kevin Phillips "Bad Money". It tells exactly how the government has been rigging the statistics since the 60's.

[TexasObserver]

38. I got out of equities in January 2008 and back in March 2009 after the DOW bottomed.

You can find my posts regarding that here at DU, if you care. I post mainly on GD, where those of us who understand economics discussed the economy in detail. I called it all on the record, repeatedly here. I called the time to get out and the time to get back in.


I'm confident the DOW will close the year at or near 11,000, your fears notwithstanding.

Feel free to buy gold, or ammo, or whatever it is you guys buy when you're in panic mode. I'm not limited by your fears regarding economics.

[JNelson6563]

39. I went long on gold @ below $400.00 an oz.!

I win! :toast:

[TalkingDog]

67. adjusted for inflation?

then how much you got?

[JNelson6563]

73. lolz

Yeah, I'm fucked. Not.

I remember when this thread was....different than it is now. There was always cynicism but damn! As a daily observer I am surprised at how bad it's gotten. Seems to me there's someplace else on the tubes that might be more suitable for some of the negativity?

Julie

[Tansy_Gold]

77. Has anyone here, of the regulars, posted anything that isn't accurate?

Is it "negativity" or is it reality?

There's lotsa places on the tubes, even on the DUbes, for all the high fiving and pompomming you could ever want. We try to counter that.

Bubbles have a tendency to pop, and we think we're seeing the expanding of another bubble. You can always go hang out with TO in GD if you prefer the upbeat positivity. Not sayin' you have to, of course, but no one's forcing you to read this thread. If it's not to your liking, there are plenty of options.


Tansy Gold, who probably exhibited more spine in writing this post than Harry Reid has in umpteen years in the US Senate

[JNelson6563]

89. Data-wise? No.

But damn it's tough to see all the nastiness that infects so much of DU leaking into the formerly neutral/above the fray Stock Watch Thread. And surely you are not inferring I'm a cheerleader....

From someone (you) who has issued a mighty smackdown of the chronically we're-all-doomed crowd elsewhere on the tubes I am surprised to see this from you TG.

Julie

[Tansy_Gold]

78. Dupe n/t

[TalkingDog]

86. No, seriously... I wasn't being negative. I'm actually interested.

Defensive much?

If you got in at below 400 and it's at, what, 1200, how much of that (earned) money is negated by inflation over the same time period?

I'd like to know.

[DemReadingDU]

69. bookmarking this post

so I can find it at year-end

[girl gone mad]

84. Sorry, but anyone making these kinds of market calls with "confidence" is talking out of their ass.

EOD.

[TexasObserver]

87. "Talking out their ass" is what you and a coterie of "regulars" do.

I see a group of extremely ignorant posters who couldn't collectively operate a lemonade stand, much less make intelligent comments about the economy.

Thanks for a good laugh. Please, continue giving each other the moral courage you need to daily make fools of yourselves.

Keep buying gold and ammo, talking about the "rigged" market, and talking gibberish to each other. You're endlessly amusing to those of us who do know what we're talking about.

[girl gone mad]

88. I don't own gold..

but I did say numerous times over the past couple of years that gold would likely perform well in our deflationary environment.

Was I right or wrong on that call?

How about my call to go long Yen in May? Was I right or wrong?

I've seen absolutely no evidence, in this thread or elsewhere, which would indicate that you know what you're talking about.

[Mickeyc1004]

83. I agree 1000 %

If I could give you a thumbs up, I would.

I feel exactly the same way!

The state of the stock market is important. I'm an investor and a liberal and I thrilled every time the stock market goes up. From what I've observed some people are pessimistic when the stock market is up and almost seem over joyed when the stock market is down. (I've seen this most often with republicans, but also with some on DU)

Others have been calling for a stock market 6000 for two years now, I don't agree with any of them and it's a real shame that optimistic opinions are not welcome on this forum.

[Tansy_Gold]

29. Numbers going up does not necessarily mean "improvement."

Words do have meanings, you know. I thought you did.




TG, NTY

[TexasObserver]

32. Yes, numbers going up does mean improvement.

That's why it's better when they go up than when they go down.

[Dr.Phool]

36. !

:rofl: :rofl: :rofl: :rofl:

Here's my financial advisor.

[Joe Chi Minh]

81. Unfortunately, as I think Galbraith, snr once commented, statistics don't feed the hungry.

Like works of art, provenacne is very important.

[Demeter]

51. Higher Index DOES NOT Make a Market Stronger

Strength lies in underlying fundamental value--of which one is hard-pressed to find any.

[DemReadingDU]

13. companies that are so big and so interconnected

that their failure could take down the entire financial system
**************************************************************


Well, then the companies are TOO BIG! Break them up.

[Demeter]

50. Highly Unlikely

But would he or anyone be stupid enough to cut off the Bureau? Or even starve it a little?

It ought to be part of the Justice Department!

[Festivito]

6. Debt: 09/28/2010 13,472,761,083,757.88 (UP 4,587,208,927.80) (Tue)

(Up some. Good day.)
At least I had a nice dinner.
(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)
= 8,963,509,129,588.84 + 4,509,251,954,169.04
UP 1,463,391,855.14 + UP 3,123,817,072.66

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 $3,223.95 makes 1T$.
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 310,178,208 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 $43,435.55.
A family of three owes $130,306.65. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 22 reports in the last 30 to 32 days.
The average for the last 22 reports is 4,433,562,398.76.
The average for the last 30 days would be 3,251,279,092.43.
The average for the last 32 days would be 3,048,074,149.15.
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$/day.
There were 249 reports in 363 days of FY2010 averaging 6.28B$ per report, 4.31B$/day.
Above line should be okay

PROJECTION:
There are 845 days remaining in this Obama 1st term.
By that time the debt could be between 14.6 and 17.8T$.
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)
09/28/2010 13,472,761,083,757.88 BHO (UP 2,845,884,034,844.80 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 +1,562,932,080,246.10 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
Endof10 +1,571,543,276,280.52 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Linear Projection

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
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 ---
09/20/2010 +000,019,446,813.89 ------------******* Mon
09/21/2010 +000,509,875,602.04 ------------********
09/22/2010 -000,022,020,658.96 ----
09/23/2010 -008,701,405,875.05 --
09/24/2010 +000,034,117,767.19 ------------*******
09/27/2010 -000,066,407,812.28 ---- Mon
09/28/2010 +001,463,391,855.14 ------------*********

30,204,769,264.64 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=4556427&mesg_id=4558755

[Festivito]

82. Debt: 09/29/2010 13,466,272,411,365.62 (DOWN 6,488,672,392.26) (Wed)

(Up a little. Good day.)
Finished the containment.
(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)
= 8,963,900,445,439.19 + 4,502,371,965,926.43
UP 391,315,850.35 + DOWN 6,879,988,242.61

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 $3,223.88 makes 1T$.
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 310,184,854 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 $43,413.7.
A family of three owes $130,241.1. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 23 reports in the last 30 to 33 days.
The average for the last 23 reports is 3,958,682,625.24.
The average for the last 30 days would be 3,034,990,012.69.
The average for the last 33 days would be 2,759,081,829.72.
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$/day.
There were 250 reports in 364 days of FY2010 averaging 6.23B$ per report, 4.28B$/day.
Above line should be okay

PROJECTION:
There are 844 days remaining in this Obama 1st term.
By that time the debt could be between 14.6 and 17.8T$.
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)
09/29/2010 13,466,272,411,365.62 BHO (UP 2,839,395,362,452.54 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 +1,556,443,407,853.90 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
Endof10 +1,560,719,351,282.07 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Linear Projection

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
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 ---
09/20/2010 +000,019,446,813.89 ------------******* Mon
09/21/2010 +000,509,875,602.04 ------------********
09/22/2010 -000,022,020,658.96 ----
09/23/2010 -008,701,405,875.05 --
09/24/2010 +000,034,117,767.19 ------------*******
09/27/2010 -000,066,407,812.28 ---- Mon
09/28/2010 +001,463,391,855.14 ------------*********
09/29/2010 +000,391,315,850.35 ------------********

30,196,162,295.87 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=4559073&mesg_id=4559088

[ozymandius]

7. Stock index futures lower ahead of GDP

LONDON (Reuters) – Stock index futures pointed to a lower open on Wall Street on Thursday on global economic recovery worries, with futures for the S&P 500, Dow Jones and Nasdaq down 0.01 to 0.2 percent at 0901 GMT (5:01 a.m. EDT).

European shares fell for a fourth straight day on Thursday, with investors moving away from riskier assets on concerns about deeper fiscal cuts in Ireland and as Moody's downgraded Spain's government bond ratings.

At 0901 GMT (5:01 a.m. EDT), the FTSEurofirst 300 (.FTEU3) index of top European shares was down 0.4 percent at 1,060.82 points after hitting a three-week closing low on Wednesday.

http://news.yahoo.com/s/nm/20100930/bs_nm/us_markets_stocks

[ozymandius]

8. World stocks down on Spain's debt worries

BANGKOK – World stock markets fell Thursday amid mixed messages from the Fed on how to bolster the fading U.S. economy and after Spanish government debt was downgraded over worries about the country's finances.

Britain's FTSE 100 index was down 0.4 percent to 5,551.65. Germany's DAX fell 0.3 percent to 6,232.10 and France's CAC-40 was 0.5 percent lower at 3,719.17.

Japan's benchmark Nikkei 225 stock average lost 190.03 points, or 2 percent, to close at 9,369.35. Sentiment in Tokyo was also sluggish as Japan's industrial production fell for the third straight month in August.

South Korea's Kospi gained 0.3 percent to 1,872.81. Australia's S&P/ASX 200 shed 1.3 percent to 4,582.9 and Hong Kong's Hang Seng retreated 0.1 percent to 22,358.17.

http://news.yahoo.com/s/ap/20100930/ap_on_bi_ge/world_markets

[ozymandius]

9. Dollar set for worst quarter since 2002, Fed eyed

HONG KONG (Reuters) – The dollar was stuck near an eight-month low on Thursday, hobbled by speculation of more quantitative easing from the Federal Reserve, while European stocks took a breather after September's rebound.

The euro, initially steady against the dollar, was down 0.4 percent on the day at $1.3578 after Ireland's central bank put a 34 billion euros ($46 billion) price on bailing out Anglo Irish Bank under a worst case scenario.

The dollar (.DXY) is down 8.3 percent this quarter against a basket of world currencies, its worst quarter in more than eight years, as a sluggish economy and stubbornly high unemployment levels in the United States have fueled expectations of another round of asset buying by the Fed.

Gold ticked lower but held within sight of a record high hit in the previous session, underpinned by continued U.S. dollar weakness. Spot gold eased 60 cents to $1,308.15 by 0630 GMT.

http://news.yahoo.com/s/nm/20100930/bs_nm/us_markets_global

[TexasObserver]

11. K&R.

Here's hoping the quarter ends today with the stock market indices even higher.

We need to see a sustained increase in stock market values from now until the election.

[Po_d Mainiac]

16. Valuations have little to do with the current ponzi markets

Some people see a problem with that.

[TexasObserver]

19. Thanks, but I actually understand this topic.

I'm not moved by those who know little about the topic.

[Po_d Mainiac]

22. Please enlighten us then!!...Be advised, my BS meter is pegged..n/t

[TexasObserver]

33. I don't invest my time trying to explain economics to most.

And by "most," I include those who repeat the meme "it's just a rigged ponzi scheme."

I learned long ago that trying to discuss economics with those who offer the same opinions as you is a complete waste of my time, so I don't do it. Oddly enough, this is one area where the ignorant on the left and the ignorant on the right converge. Those on the fringe of the right agree with you.

If you don't understand why the stock market being higher is better than it being lower, with Democrats in power, no amount of explaining it to you will matter.

[mbperrin]

37. You don't think high frequency trading is a problem?

And you really think the volatility in the market is an accurate mirror of actual volatility in the brick economy?

Do tell.

No need to explain economics to me, just your position on those questions. I have my degree from Aggieland, and my advisor was Robert Ekelund. Other profs were Kagel, Battalio, Maurice and Chalk. That's my background, and I think you'll find all these folks are published regularly in journals as well as in books.

So please do explain the accuracy and utility of these two for a fellow Texan.

[TexasObserver]

40. No, I don't think high frequency trading is a problem.

It's an annoyance. I'm not one who believes in jumping around, moving from one stock to another. That's for amateurs and day traders, with a great deal of overlap in those two groups.

As for volatility in the market, of course it's not an accurate mirror of volatility in the brick economy. It's not supposed to be. The stock market is a measure of confidence, and that measure is used to value publicly owned and traded companies. As those values improve, it positively influences the economy long term.

The economy is a long way from being well. The stock market bottomed out 18 months ago. Unemployment cannot improve until the economy is considered to be much healthier. If we can see sustained growth in the DOW until it makes it well above 11,000, we'll see jobs in 2011.

[jtuck004]

43. If much of the profit in those companies are coming from having trimmed

workers in the U.S. to improve their efficiencies while inventories increase and sales are low, and profits/
cash flow is coming from their international operations,isn't it possible that we could a DOW above 11,000 and
still have 30,000,000 people unemployed and underemployed, or worse?

[mbperrin]

71. Even though high frequency trading allows a few select companies

like Goldman to remove hundreds of millions of dollars from active investment and retire it as dividends for partners, and even though raising capital is supposed to be the function of the stock market, and this cripples that function, there is no problem?

Hmm. You may even think that the measure of an economy is profits, rather than production. Do you?

[tclambert]

74. Hey, Tex, sounds like you and I share some investment rules.

Rigged casino and/or multi-generational Ponzi scheme or whatever, I believe I can make a little coin in the market. The big institutional(ized) investors so often look too short term and follow fads too readily to impress me. I try to make money long term, not on the fluctuations. Instead of the Wall Street Journal, I get my investment ideas from science magazines.

I really would like to see giant monopolies and cartels broken up. But I don't invest in them. The stocks that go up by a factor of ten (over several years time) are almost always small caps.

I do worry about the high frequency trading. That flash crash happened on a day when I almost entered a market order. New rule: only limit orders from now on.

I joke with some of my more pessimistic friends here on SMW. Sometimes it seems like I'm the last optimist left. I offer to bet them that the world won't come to an end.

And I like the dogs.

[Tansy_Gold]

42. Yes, I noticed exactly how the Democrats are using their power, too

By handing it on a silver platter to Mitch McConnell and the Republicans(sic) who control the Senate.

You wanta explain that to me, Lucy, before I put you on ignore?

Oh, you were too slow. I already did.



TG

[Demeter]

52. I See Your Ignore And Raise You One Alert (not Tansy)

I am still cranky, despite a good day yesterday. Tansy Gold for President!

[Po_d Mainiac]

75. U don't try to explain to most? Are u that much smarter than the masses?

Then by all means please explain to the few, or just me for that matter. I for one, tire greatly from being ignorant. See I already agree with you!

I want to understand how a .2% rise in the E/S which cuts the buying power of the U$D by .5% is such a great thing for the country. I really do!

I need to understand how further intervention into trying to prop RE pricing at levels unaffordable and unreasonable (which keeps the stocks of what would otherwise be insolvent financial institutions on the NYSE vs. OTC) is such a great thing for the future of the country.

I need to understand how it can be that MF outflows are holding constant as the market creeps upwards. How can HFT front-runs of legitimate MF's, primarily funded by IRA's, that pump stock prices at the expense of yields be something to rejoice about? I need the knowledge.

I need to know why most of the trading occurs within 15 minutes of the markets opening and closing bells.

I need to know how AAPL, which builds i(nothings) domestically, is 20% of the NASDAQ and the key to the US recovery. (ps..I heard they are to die for in China)

I need to know how trading in 125 stocks moves markets and indicates how the country prospers in the future.

I need to know what will happen (other than the markets rising based on inflation alone) when/if QE2.0.02/QE3/QE4 proceeds? Please, you of the most intelligent among the masses, do tell.

I need to know how AUD/USD .839 - S&P 1041 differs from AUD/USD .967 - S&P 1173 or AUD/USD .897 - S&P 1115.

I really need to know if Dow 11,000 on Oct 15th, but 9,500 on Dec 2nd is a great occurrence.

I really, really need to know that there are real people 'investing' real money in the markets, or is it just a couple trading terminals running algorithm swaps amongst themselves.

When someone is unwilling to enter into a discussion because they "can't afford to waste their time" gets me thinking that 'someone' is incapable of making a cohesive argument.

Better judgment says the power to 'ignore' should be employed. But, as u stated earlier, I'm ignorant.

[Name removed]

79. Deleted message

Message removed by moderator. Click here to review the message board rules.

[DemReadingDU]

80. I'd like to know too

Not much makes sense to me nowadays.

[girl gone mad]

85. and..

crickets.

[Tansy_Gold]

20. TO has a point, albeit a sad one

Most of the country sees stock market = economy. As long as DJIA is up, their worst fears will be held at bay. Stocks go down, it's Obama's fault, the Dems' fault, thus = bad election results.

Of course, the longer and higher the markets climb, the harder will be their eventual and inevitable fall.

Is that a win-lose-lose situation?

:shrug:


TG, NTY

[jtuck004]

34. I wonder if that differs between people who are employed and actually

have a tv to watch the market on, vs those who have been out of a job a few months or longer - like several million people have.

I suspect they don't have near the positive outlook of a bunch of companies that are gaining profits from
overseas markets.

[Tansy_Gold]

46. I suspect many of the unemployed, like many of the rest of the

populace, really don't understand the disconnect between The Market and The Economy. The MSM isn't analyzing it, that's for sure. If it weren't for what I've picked up in my time on the SMW, I wouldn't understand most of it either. The vast majority of the country truly believes a rising Dow is a rising economy. They don't have a clue, and TPTB like it that way.

It's scary.



TG, NTY

[jtuck004]

48. Yes, I have noticed that over the years.

I do wonder if that will start to change. 'Cause I don't see diddly that is going to increase employment much for at least the next 10 years or so, barring a new Internet or some discovery that changes the energy mix - which is the only thing I see keeping us from roughly double digit unemployement out to 2020 or so. Those that do get reempoyed are far more likely to do it at the < $10/hr customer service jobs instead of making things. And the jobs that are created are quite likely to be in the developing countries, such as S. Africa where Walmart is investing $400 billion for new stores.

Given that, as the stock market rises, and people's living conditions deteriorate relative to what they were used to, I wonder if they will start to scratch their heads and wonder a bit more...

Thanks!

[Demeter]

14. Congress Going for Continuing Resolution Funding As It Bugs Out for 6 Weeks

I'm surprised they got any Fed Reserve appointments done....somebody must have yanked the leash hard.

[Tansy_Gold]

44. Fed appts must've been part of the deal

McConnell demanded Senate stay in pro forma session to block recess appts or he woulda held his breath 'til he turned blue. Reid shoulda called his bluff, but you know Harry "Don't Give 'Em Hell" Reid. He gave the chinless wonder exactly what he wanted, without a fight.

What a fucking wanker. And yes, I know it's an oxymoron.



TG, pissed

[Demeter]

49. That Makes Sense

of this nonsense. McConnell Has GOT to go.

[Po_d Mainiac]

15. Long article about the currency games..good read

http://www.kitco.com/ind/willie/sep292010.html

[Po_d Mainiac]

17. Pentagon Loses Control of Bombs to China Metal Monopoly

The U.S. handed its main economic rival power to dictate access to these building blocks of modern weapons by ceding control of prices and supply, according to dozens of interviews with industry executives, congressional leaders and policy experts. China in July reduced rare-earth export quotas for the rest of the year by 72 percent, sending prices up more than sixfold for some elements.

Military officials are only now conducting an inventory of where and how U.S. suppliers use the obscure but essential substances -- including those that silence the whoosh of Boeing Co. helicopter blades, direct Raytheon Co. missiles and target guns in General Dynamics Corp. tanks.

Warning Signs

“The Pentagon has been incredibly negligent,” said Peter Leitner, who was a senior strategic trade adviser at the Defense Department from 1986 to 2007. “There are plenty of early warning signs that China will use its leverage over these materials as a weapon.”

http://www.bloomberg.com/news/2010-09-29/pentagon-losing-control-of-afghanistan-bombs-to-china-s-neodymium-monopoly.html

Military intelligence again defined

[Papa Boule]

23. Oops. We can't go on being all bomby and stuff without bombs.

n/t

[Demeter]

26. You Say That Like It Was a Bad Thing

I'd like to see Corporations vs China. I'm laying odds on China.

[Po_d Mainiac]

76. U gotta read more into the concept.

Not only did we possibly concede the dominance in weapons tech, but also the next wave in assembly technology. Robotics.

It's bad enough that domestic mfg is labor un-intensive. If we are less capable of competing with the "red" giant at a technical level, :scared:.

I had a ringside seat into the effect on labor with increased mechanization. I worked as, and supplied loggers for 25 years with the tools of their trade. The State of Maine went from 12,000 people employed in wood harvesting to less than 1,500 in a decade. A 5 man crew that piled 90 cords at the end of a week, became a single operator that piled 350 cords. (FU hard, American Logger and Swamp Logger)

The amount of money at the end of the day was the same. But under the labor intensive program it stuck to many fingers. Under the mechanical program it went for fuel and financing on a very expensive piece of machinery that expired before the last payment was made.
......
Of special note is those 5 guys that made up a crew smelled bad at the end of the day and at least one was going to be laid up due to a serious injury every few years. But, they supported families, and contributed to their communities.

Mechanization = safety = low employment or Labor intensive = injured workers = higher employment
I an not talking slave wages AKA China, please do not misinterpret my point!!

[Demeter]

27. In Honor of the Late, Great Tony Curtis, WEE Will Be Doing a Retrospective

this weekend, along with the occasional article of economic interest.

I had thought to do birds (since cats was such fun) with massive wordplay on "foul vs. fowl", but it can wait. Maybe for Thanksgiving? If I forget, please remind me (or not, if it's a really foul idea).

The carpet is dry, I have figured out the little step-be-step technique for getting the floors down...a talent I thought I had lost in the chaos of too many insanely large projects...so wish me luck!

[Tansy_Gold]

28. Are you doing laminate?

It's easy. You'll have no trouble at all. Piece of cake. Really. I did my studio three years ago, my family room this past spring, and can't wait until I can afford to do the rest of the house. You'll love it!


TG, BTDT

[Demeter]

41. Nope. Prefinished 3/4" Oak

Have to make the house indestructible.

[TalkingDog]

30. Tarriff War!

http://www.voanews.com/english/news/China-Warns-US-Yuan-Bill-Could-Damage-Ties-104071274.html

On Wednesday, the U.S. House of Representatives passed legislation that would allow Washington to treat what the bill describes as fundamentally undervalued currencies as an illegal export subsidy.

Jiang says the bill would harm commercial relations between China and the U.S., and says it could affect the economies of both countries, and the world.

The bill is primarily aimed at China. The U.S. and other countries say it keeps its currency, the yuan, artificially low to give its exports an unfair advantage. Many U.S. politicians, businesses and labor groups say this has contributed to the United States' massive trade deficit with China. Congress says the deficit causes jobs losses in the U.S.



Why does this sound familiar?

[Tansy_Gold]

45. Harry Reid won't stand for that.

Actually, Harry Reid CAN'T stand for that, because Harry Reid has no backbone.

I'm glad I don't live in Nevada, because I'd be lookin' for a very large clothespin before I voted for Harry.



TG, NTY

[Demeter]

47. Big Shout Out to William Pitt for the Latest Taibbi Article

http://www.rollingstone.com/politics/news/17390/210904

If you missed it yesterday, read it now.

---------------------------------------------------------------------------

Want to end poverty? Then you HAVE to confiscate and spread around the hoardings of the Obscenely Wealthy. These are the two sides of the same coin.

AND you HAVE to take out the parasites: speculators, M&A shills, vulture capitalists, the whole "Finance Industry", so that Obscene Wealth Hoards don't reoccur. AND the politics must be written and run to prevent it, as well. We would have to advance towards the original vision of Jefferson and the others who were NOT part of the economic elite at the time.

Even banking would have to be redefined--more along the lines of credit unions.

Capitalism itself would have to be modified. Corporations would have purpose and time limits, with legally mandated MAXIMUM returns on investment...

If this is Socialism, then yes, that's what it will take to sustain the human race with humane and even results.

And Religion will have to get out of the business of forcing women into Motherhood.

And after that, I can take a vacation....

[Demeter]

53. A.I.G. Reaches Deal to Repay Treasury and Fed for Bailout

EVIDENTLY IT'S PUMPKIN TIME FOR CIDERELLAIG...

http://www.nytimes.com/2010/10/01/business/01aig.html?_r=1

The American International Group said Thursday that it had reached an agreement in principle to repay the Federal Reserve Bank of New York for the company’s 2008 rescue, and to gradually return the ownership of its stock to the public markets.

The company and its rescuers in the federal government have been working intently in recent weeks to complete such a plan before the expiration of the Treasury’s Troubled Asset Relief Program on Oct. 3, and before the Fed’s bailout loan came due. The original terms called for A.I.G. to pay back the Fed within two years.

Under the plan, the Treasury Department will, for a time, own 92.1 percent of A.I.G. before it begins to sell it shares.

Because A.I.G. turned out to need a bigger rescue package than first expected, the Fed loan changed, and the insurance giant now owes the Fed about $46 billion in two forms: about $20 billion in borrowings under the original revolving credit facility, and a $26 billion preferred stake that the company must redeem. A.I.G. said it would repay those amounts by the end of March 2011....


BAILING WIRE AND BUBBLEGUM

[Demeter]

54. TIMMY GETS THE LAST WORD:

The Treasury issued a statement Thursday saying the agreement “dramatically accelerates the timeline for A.I.G.’s repayment and puts taxpayers in a considerably stronger position to recoup our investment in the company.”

In the statement, Treasury Secretary Timothy F. Geithner said: “While there is a lot of work ahead to execute this agreement, today we are much closer to seeing a clear path out.”

LAUGH-A-MINUTE!

[Demeter]

55. The Celtic Tiger, Declawed and Defanged

http://www.truth-out.org/the-celtic-tiger-declawed-and-defanged63667

The last time I was here in Ireland, eight years ago, the Celtic Tiger was still roaring. The country had zoomed from poverty to wealth, enjoying an unprecedented economic boom, with unemployment down to 4.5 percent and consumer spending and average wages at all-time highs...

When all seemed flush, and foreign capital was rolling in, the Anglo Irish Bank lent billions of euros to property developers, including the builders of the convention center. The building boom went bust, exacerbated by the burst of the global housing bubble, and the bank has gone belly up, nationalized by the Irish government, a bailout that according to an analyst at Standard and Poor's may wind up costing Irish taxpayers more than $47 billion American....

...the running joke was that the difference between Ireland and Iceland was one letter and six weeks....

Ireland now has close to 14 percent unemployment and the biggest deficit in Europe - proportionately higher than that of Greece. It could reach around 20-25 percent of its gross domestic product, but the country has not yet gone to the International Monetary Fund and the European Union for a financial rescue, as the Greeks have....

[Demeter]

56. KBR Under Pressure From Congress Over Allegations of Poisoning Soldiers

If a Congressman from Oregon has his way, then American taxpayers would not be expected to foot the legal bills for private military contractors like the former Halliburton subsidiary that allegedly allowed dozens of National Guard troops to be poisoned by a dangerous chemical in Iraq...

http://www.truth-out.org/contractor-accused-poisoning-soldiers-faces-pressure-from-congress-again63671

Legislation introduced to Congress by Rep. Earl Blumenauer (D-Oregon) on Wednesday would require the military to notify Congress before accepting substantial legal liability on behalf of its contractors and prevent contractors guilty of gross negligence from winning new contracts.

The legislation could spell trouble for Kellogg, Brown and Root (KBR), the massive contractor that was secretly granted liability immunity as part of at least one wartime contract since 2001.

KBR has since split from Halliburton, its former parent company, and faces a list of lawsuits based on serious allegations, including poisoning soldiers with fumes from open burn pits in Iraq, allowing soldiers to be electrocuted in showers with faulty wiring, failing to protect female soldiers from sexual assault, participating in human trafficking, and the list goes on....

[Demeter]

57. Our Acute Case of Fiscal Madness

http://www.truth-out.org/our-acute-case-fiscal-madness63692

Future historians will marvel at the austerity madness that gripped policy elites in the spring of 2010.

In a flurry of blind panic and irrational exuberance, organizations from the European Central Bank to the Organization for Economic Cooperation and Development suddenly abandoned everything we had learned, at a bitter cost, about economics during recessions and decided that fiscal austerity was the way to go while the world was in the depths of a slump — indeed, many claimed that spending cuts would actually be expansionary.

Not only was there an illogical push for austerity, but there also emerged a widespread demand for central banks to raise interest rates in the face of falling inflation and high unemployment.

This madness was exemplified by the O.E.C.D.’s economic outlook report in May, which supported these ideas. But the O.E.C.D. has suddenly changed its tune. “In the short term, the weakness can be dealt with the prolongation of some of the monetary accommodation in some countries,” the O.E.C.D.’s secretary general, Angel Gurria, told Reuters on Sept. 17.

This is as close as such organizations ever get to admitting that they were wrong.(SEE IRELAND, ABOVE POST)

[Demeter]

58. Judge Rakoff – Let’s Get The Show Going / Walter Pavlo; White-Collar Crime

http://blogs.forbes.com/walterpavlo/2010/09/29/judge-rakoff-lets-get-the-show-going/?partner=yahoofpapp

When I was going through my trial(s) the government allowed the civil trial against me, brought by a number of banks, to proceed ahead of my criminal trial. I thought, “I’m probably screwed.” I was right.

The folks in the front row of the civil trial were government prosecutors who were allowed to be spectators to the case they would eventually bring against me to toss me in jail. It’s kind of like getting to play a pre-season game in football that doesn’t count. FBI agents, IRS agents and US attorney staff all sat and took copious notes as the trial progressed.

Judge Jed Rakoff, who I met on a panel discussion a few years back, recently allowed the civil trial to proceed against Galleon Group’s Raj Rajaratnam ahead of the pending criminal trial that will focus on charges of insider trading. I was psyched that someone else would have to go through the same thing that I did…a kind of schadenfreude. It was a smart move by Rakoff to allow the government a chance to see the evidence that the Security and Exchange Commission (SEC) had on Raj and his co-conspirators during the civil proceedings. Among the evidence that the government could hear would be hours of wiretaps that, most likely, put the finger on Raj and his hot stock tips.

However, Raj’s attorneys did not like that decision and took it to a higher court. This week an Appeals court ruled that it would not allow the wiretaps to be released and further called Judge Rakoff out for holding the civil trial prior to the criminal trial. One strike against the home team....

[Dr.Phool]

59. Did the PPT scoot out of town too?

Took off like a rocket at the open, then a rapid descent.

[Name removed]

60. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Dr.Phool]

61. "Nothing is safe when Congress is in session".

I don't remember who said it, but maybe everyone is breathing easier now.

And pulling out their checkbooks.

[TheWatcher]

62. That could be the case.

Now that we know Bubbles are "Normal" and a recurring thing as a result of "Normal Market Activity", we can all spend our way into oblivion with no fear of consequences. :)

Hope you are doing well, Doc.

In other news, Shedding light on the fact that the Unemployment Numbers keep getting revised upward, and continuing claims keep increasing does not seem to sit well with some. :evilgrin:

[Dr.Phool]

63. Everything is good on this end.

I might even get another dog this week-end. I was just on the Rescue's site, where we got Sara, and they've got a litter of Flatcoats.

My wife has been resisting, but I e-mailed her a couple of pictures, that looked just like our departed Stoli, now she's excited.

[TheWatcher]

64. Good to hear. Please post pictures of the new family member if it comes to pass.

I've always wanted to have a puppy, but our Three Kittens of the Apocalypse would probably eat him. :)

[Dr.Phool]

65. Sara just tastes them.

[TheWatcher]

66. "You Haz Flavor."

:rofl:

That has to be the single most adorable picture I have ever seen. :)

[Demeter]

68. Who Says the Age of Miracles Has Passed?

DOW shoots up 100 pts at open, drops 200 from that peak, and beats its way back to a mere -14 by 3 PM. If that isn't magic, nothing is.

Ooops! Spoke too soon. Now -29...

[truthisfreedom]

70. -.44

[Tansy_Gold]

72. Don't forget honorable binoculars and maps of unimpeachable integrity n/t