STOCK MARKET WATCH, Tuesday, January 4, 2011

[Pale Blue Dot]

Source: du

STOCK MARKET WATCH, Tuesday, January 4, 2011

AT THE CLOSING BELL ON January, 3, 2011

Dow 11,670.75 93.24 (+0.80%)
Nasdaq 2,691.52 +38.65 (+1.44%)
S&P 500 1,271.87 +14.23 (+1.12%)
10-Yr Bond... 3.36 +0.03 (+0.81%)
30-Year Bond 4.43 -0.01 (-0.16%)

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Market Conditions During Trading Hours

Euro, Yen, Loonie, Silver and Gold

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    William Black: This Economic Disaster    Bill Moyers with Kevin Drum and David Corn

Bush Administration Officials Convicted = 2
Names: David Safavian, James Fondren
Dishonorable Mention: former House majority leader, Tom DeLay

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

[Pale Blue Dot]

1. Today's Reports

Jan 04 10:00 Factory Orders Nov -0.6% -0.3% -0.9%
Jan 04 14:00 FOMC Minutes
Jan 04 15:00 Auto Sales Dec NA 3.7M 3.8M
Jan 04 15:00 Truck Sales Dec NA 5.3M 5.5M


Read more: http://www.briefing.com/Investor/Public/Calendars/EconomicCalendar.htm#ixzz1A3xeYDaV

[Pale Blue Dot]

2. Oil hovers below $92 as global equities rally

SINGAPORE – Oil prices hovered below $92 a barrel Tuesday in Asia near a two-year high as a stock market rally to start 2011 boosted crude trader optimism.

Benchmark oil for February delivery rose 2 cents to $91.57 a barrel late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose 17 cents to settle at $91.55 on Monday.

U.S. stock markets advanced the first trading day of the year as data showed recent manufacturing activity and construction spending rose more than analysts were predicting.

The S&P 500 stock index gained 1.1 percent Monday and major Asia equity markets rose Tuesday, led by a 1.7 percent jump in Japan's Nikkei 225 index.

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

[Ghost Dog]

4. GLOBAL MARKETS-Economic optimism lifts stocks, oil

LONDON, Jan 4 (Reuters) - Optimism about the state of the world economy lifted stocks on Tuesday as well as boosting the dollar and keeping oil prices at a near 27-month peak.

Monday's U.S, Chinese and European PMI manufacturing data continued to boost risk sentiment across financial markets along with the "January effect" that occurs as fund managers dispense with the need to settle end-of-year balances.

Some investors were also looking ahead to Friday's U.S, jobs data, expecting to see the world's largest economy in an improving state of health.

"People are starting to recognise there is some improvement in the employment picture in the United States. You would expect to see some of the confidence of the (manufacturing) PMI to be reflected in the non-farm payrolls," said Philip Isherwood, European equities strategist at Evolution Securities.

World stocks as measured by MSCI .MIWD00000PUS were up nearly a quarter of a percent on the day, with the emerging market sub-index .MSCIEF gaining 0.4 percent.

/... http://www.reuters.com/article/idUSLDE7030FW20110104?rpc=401

[truedelphi]

50. Plus a lot of investors are looking forward to the

"Liberation" of the 2.1 Trillion dollar Social Security Fund. Gotta end those onerous entitlements, doncha know!

[Ghost Dog]

51. Good point, truedelphi.

Keep your eye on the, err, termites.

[Ghost Dog]

5. Nikkei ends at highest level since mid-May

TOKYO: Japanese shares marked their highest close since May, rising 1.65 percent on Tuesday on the first trading day of 2011, boosted by a rally on Wall Street .

Rising oil prices particularly drove up resource-related shares at the Tokyo Stock Exchange , but there were gains across the board.

The headline Nikkei index surged to 10,398.10, the highest level since May 14, when it ended at 10,462.51.

The Topix index of all first section shares jumped 1.45 percent to 911.80, as investors cheered recent gains in overseas bourses.

/... http://economictimes.indiatimes.com/markets/global-markets/nikkei-ends-at-highest-level-since-mid-may/articleshow/7215390.cms

[Ghost Dog]

7. Sky-high economic growth in Singapore

The Singapore skyline has been sparkling with its economy expanding at a record rate in 2010.

It grew by 14.7% last year following a 1.3% contraction in 2009, driven by a surge in manufacturing.

Prime Minister Lee Hsien Loong said the pace of growth would slow in 2011.

/... http://www.thisismoney.co.uk/markets/article.html?in_article_id=520737

[xchrom]

3. Recommend

[Ghost Dog]

6. China backs Spain to emerge from economic crisis

(AFP) China is confident Spain will recover from its economic crisis and will continue to buy Spanish government bonds despite market fears of an Irish-style debt bailout, a top Chinese official said yesterday.

The comments by Vice Premier Li Keqiang were made in an op-ed piece in Spain’s leading daily El Pais one day ahead of his arrival in Madrid for a three-day official visit, the start of a European tour that will also include Britain and Germany.

“We have confidence in the Spanish financial market, which has been translated into the acquisition of its public debt, something we will continue to do in the future,” he said.

“China supports the measures adopted by Spain for its economic and financial readjustment, with the firm conviction that it will achieve a general economic recovery”, said Mr Li, who is widely tipped to become China’s next premier.

...

Chinese state media on Monday also quoted Beijing’s ambassador to Madrid as saying China is willing to make “positive efforts” to help Spain with its economic recovery. Mr Li’s meetings this week with Prime Minister José Luis Rodriguez Zapatero and Finance Minister Elena Salgado will “play a key role” in financial stabilisation, Xinhua news agency quoted the ambassador, Zhu Bangzao, as saying.

/... http://www.timesofmalta.com/articles/view/20110104/world-news/china-backs-spain-to-emerge-from-economic-crisis

See also: http://www.google.com/hostednews/afp/article/ALeqM5jUg7Z-FxiTtUkwFP-9SWVjSqrNxg?docId=CNG.9b3734321ed62d26cc8b8df2670a9dc0.321

[Demeter]

30. Thereby Putting Paid to the Run on the Euro

maybe--for the time being.

It would be the height of irony if the last remaining Communist state (of any size) became the instrument of destruction of Zombie Banks and corporate globalism.

[Demeter]

40. Euro stands just 20pc chance of survival in next decade

http://www.telegraph.co.uk/finance/currency/8234083/Euro-stands-just-20pc-chance-of-survival-in-next-decade.html

In its annual list of predictions, the CEBR said a new eurozone crisis was its number one forecast for 2011, citing the hundreds of billions of euros of debt that members must replace this year.

"If the euro doesn't break up, this could be the year when it weakens substantially towards parity with the dollar," said Douglas Williams, chief executive of CEBR.

Spain and Italy alone must refinance more than €400bn (£343bn) of debt in the first half of the year, which could prove impossible given investor fears over the finances of southern European countries....

NOT TO WORRY--CHINA JUST CHANGED THE GAME

[Ghost Dog]

44. China can pay. Spain and Europe have a lot to offer. And...

remember the Maine. "To hell with Spain".

[Festivito]

8. Debt: 12/31/2010 14,025,215,218,708.52 (UP 154,084,864,891.12) (Fri, UP big. End of 1st quarter.)

(Up big. Hit 14, first time. Usual large jump for ending day of any quarter. FY11 Projection now higher than last years actual, but still lower than '09. Good day.)
Sleepy.
(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)
= 9,390,476,088,043.35 + 4,634,739,130,665.17
UP 62,732,309,679.32 + UP 91,352,555,211.80

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 311-Million person America.
If every American, man, woman and child puts in $3.22 THAT'S 1B$, and $3,215.01 makes 1T$.
A family of three: Mom, Dad, Child: $9.65, ABOUT TEN BUCKS for a 1B$ 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 12 seconds we net gain another American, so at the end of the workday of the report, there should be 311,040,992 people in America.
http://www.census.gov/population/www/popclockus.html ON 10/04/2010 04:37 -> 310,403,677
Currently, each of these Americans owe $45,091.21.
A family of three owes $135,273.64. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 23 reports in the last 30 days.
The average for the last 23 reports is 8,273,766,814.41.
The average for the last 30 days would be 6,343,221,224.38.

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$/day.
There were 251 reports in 365 days of FY2010 averaging 6.58B$ per report, 4.53B$/day.
There were 64 reports in 92 days of FY2011 averaging 7.24B$ per report, 5.04B$/day.
Above line should be okay

PROJECTION:
There are 751 days remaining in this Obama 1st term.
By that time the debt could be between 15.1 and 18.8T$.
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)
12/31/2010 14,025,215,218,708.52 BHO (UP 3,398,338,169,795.44 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 +1,651,794,027,380.00 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
FY2011 +0,463,592,187,816.80 ------------* * * * * * * * * * * BHO
Endof11 +1,839,251,614,707.96 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
12/13/2010 -000,140,409,571.73 --- Mon
12/14/2010 +000,270,507,131.41 ------------********
12/15/2010 +035,075,952,728.32 ------------**********
12/16/2010 -002,942,603,716.29 --
12/17/2010 +002,071,215,295.43 ------------*********
12/20/2010 -000,083,147,973.47 ---- Mon
12/21/2010 +000,210,432,562.88 ------------********
12/22/2010 +000,569,620,034.56 ------------********
12/23/2010 +001,962,709,844.10 ------------*********
12/24/2010 -000,001,321,466.66 -----
12/27/2010 -000,059,144,170.26 ---- Mon
12/28/2010 +001,124,227,282.97 ------------*********
12/29/2010 +000,165,778,043.38 ------------********
12/30/2010 +000,091,969,590.77 ------------*******
12/31/2010 +062,732,309,679.32 ------------**********

101,048,095,294.73 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=4681202&mesg_id=4681273

[DemReadingDU]

11. That is up a LOT

For one day, is that the largest amount the debt increased?

[Festivito]

38. 09 3rd quarter, for a single day. Other days were hidden.

Hidden by borrowing the money on a day when SS would get a big
amount of money back, or as Bush did, borrowing a lot of money
day after day after day.
Up from yesterday  Percent rise Public part of debt    
Intragovernmental       The date
186,874,215,299.93	1.7582%	129,921,134,239.67	248,708,412,534.04	<--Maxes
186,874,215,299.93	1.6186%	84,349,097,965.60	102,525,117,334.33	06/30/09
166,456,660,941.57	1.3521%	83,831,281,729.66	82,625,379,211.91	12/31/09
165,931,038,264.29	1.2567%	77,231,903,487.92	88,699,134,776.37	06/30/10
154,084,864,891.12	1.0986%	62,732,309,679.32	91,352,555,211.80	12/31/10

[Festivito]

55. Debt: 01/03/2011 13,997,932,781,828.89 (DOWN 27,282,436,879.63) (Mon, DOWN some.)

(Up big. FY11 Projection now higher than last years actual, but still lower than '09. Good day.)
Talkative 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)
= 9,385,079,979,612.71 + 4,612,852,802,216.18
DOWN 5,396,108,430.64 + DOWN 21,886,328,448.99

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 311-Million person America.
If every American, man, woman and child puts in $3.21 THAT'S 1B$, and $3,214.79 makes 1T$.
A family of three: Mom, Dad, Child: $9.64, ABOUT TEN BUCKS for a 1B$ 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 12 seconds we net gain another American, so at the end of the workday of the report, there should be 311,062,592 people in America.
http://www.census.gov/population/www/popclockus.html ON 10/04/2010 04:37 -> 310,403,677
Currently, each of these Americans owe $45,000.37.
A family of three owes $135,001.12. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 22 reports in the last 30 to 31 days.
The average for the last 22 reports is 7,473,683,765.30.
The average for the last 30 days would be 5,480,701,427.89.
The average for the last 31 days would be 5,303,904,607.63.
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$/day.
There were 251 reports in 365 days of FY2010 averaging 6.58B$ per report, 4.53B$/day.
There were 65 reports in 95 days of FY2011 averaging 6.71B$ per report, 4.59B$/day.
Above line should be okay

PROJECTION:
There are 748 days remaining in this Obama 1st term.
By that time the debt could be between 15.0 and 18.0T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
01/03/2011 13,997,932,781,828.89 BHO (UP 3,371,055,732,915.81 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 +1,651,794,027,380.00 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
FY2011 +0,436,309,750,937.10 ------------* * * * * * * * * * BHO
Endof11 +1,676,347,990,442.55 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
12/14/2010 +000,270,507,131.41 ------------********
12/15/2010 +035,075,952,728.32 ------------**********
12/16/2010 -002,942,603,716.29 --
12/17/2010 +002,071,215,295.43 ------------*********
12/20/2010 -000,083,147,973.47 ---- Mon
12/21/2010 +000,210,432,562.88 ------------********
12/22/2010 +000,569,620,034.56 ------------********
12/23/2010 +001,962,709,844.10 ------------*********
12/24/2010 -000,001,321,466.66 -----
12/27/2010 -000,059,144,170.26 ---- Mon
12/28/2010 +001,124,227,282.97 ------------*********
12/29/2010 +000,165,778,043.38 ------------********
12/30/2010 +000,091,969,590.77 ------------*******
12/31/2010 +062,732,309,679.32 ------------**********
01/03/2011 -005,396,108,430.64 -- Mon

95,792,396,435.82 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=4682491&mesg_id=4682503

[Ghost Dog]

9. Three Market Valuation Indicators, All Signaling Caution (Doug Short)

Let's check out the latest overlays of the three valuation indicators I routinely follow. Here are links to some background explanations.

* The relationship of the S&P Composite to a regression trendline (more)
* The cyclical P/E ratio using the trailing 10-year earnings as the divisor (more)
* The Q Ratio — the total price of the market divided by its replacement cost (more)

To facilitate comparisons, I've adjusted the Q Ratio and P/E10 to their arithmetic mean, which I represent as zero. Thus the percentages on the vertical axis show the over/undervaluation as a percent above mean value, which I'm using as a surrogate for fair value. Based on the latest S&P 500 monthly data, the index is overvalued by 62%, 43% or 38%, depending on which of the three metrics you choose.

/... http://seekingalpha.com/article/244623-three-market-valuation-indicators-all-signaling-caution?source=yahoo

[Pale Blue Dot]

10. Stocks, Index Futures Climb on Improving U.S. Outlook; Franc, Gold Decline

tocks rose as emerging-market shares extended the longest rally in two months and U.S. index futures gained on speculation reports this week will add to evidence the American economy is improving. The Swiss franc and gold fell.

Equities in China, Japan and the U.K. led the advance as trading resumed after holidays. The MSCI Emerging Markets Index climbed 0.4 percent at 6:10 a.m. in New York. The Stoxx Europe 600 Index added 1.1 percent, and Standard & Poor’s 500 Index futures gained 0.3 percent. The franc weakened 1.5 percent against the euro, and gold dropped for a second day.

Orders placed with U.S. factories probably retreated at a slower pace in November, while car sales continued at the fastest pace since 2009 in December, reports today may show. Kia Motors Corp. and Hyundai Motor Co. said yesterday that global sales may rise 10 percent in 2011, while General Motors Co. said it sold 29 percent more vehicles in China last year. Data later this week may show U.S. employment picked up for a third month.

“We’ve seen two months of positive data, which is definitely buoying investors’ expectations for 2011,” said Tim Schroeders, who helps manage $1 billion at Pengana Capital Ltd. in Melbourne. “Signs are encouraging that things are improving.”

http://www.bloomberg.com/news/2011-01-04/asian-stocks-copper-extend-gains-on-improving-u-s-outlook-bonds-decline.html

[Po_d Mainiac]

13. Two key names to look for in future press releases

Slim and Fresnillo

Slim has $19 billion to play with...Fresnillo has a market val in the same range.

[Ghost Dog]

15. FTSE surges back above 6,000 level

LONDON (Reuters) - The leading share index stormed higher by midday on the first session of 2011, pushing back above 6,000 to levels not seen for 31 months, boosted by strength in heavyweight commodity issues and banks.

By 12:02 p.m. the FTSE 100 index was up 137.89 points, or 2.3 percent, at 6,037.83, easily recouping the 1.2 percent losses it registered on December 31.

"The FTSE 100 has rallied an average of 1.3 percent on the first trading day of the year for the last five years, and so today's rally, whilst expected, is above average in terms of strength and will give investors a nice boost," said Joshua Raymond, market strategist at City Index.

BP was the top blue-chip gainer, up 5.2 percent to a six-month high after the Daily Mail newspaper reported that oil rival Royal Dutch Shell had considered an opportunistic takeover bid for the firm during the Gulf of Mexico oil spill. Royal Dutch shares gained 1.2 percent, with peer BG Group ahead 3.3 percent as crude prices pushed up towards $92 a barrel, the highest level in more than two years.

Copper prices hit a record high in London on Tuesday, buoyed by positive manufacturing data across the world, with Xstrata adding 4.8 percent and silver miner Fresnillo gaining 4.8 percent.

/... http://uk.reuters.com/article/idUKTRE7031G520110104

[Po_d Mainiac]

12. Cartoon history lesson..Or how the banksters have screwed the world

http://www.zerohedge.com/article/cartoon-how-american-dream-purchased-credit-became-american-nightmare

[Ghost Dog]

22. Very nice. Worth a view.

(Even the fatally dumbed-down are beginning to pay attention, I reckon).

[Demeter]

23. Direct link to Youtube

http://www.youtube.com/watch?v=Kv2oCXbW4r0&feature=player_embedded

[Ghost Dog]

27. The "Hartmann" reference refers to this guy?

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

[Ghost Dog]

53. What, no reply? Just some anonymous "Heart Man"?

It was a serious question. What do we here in the rest of the world know (without your freedom of thought and expression)?

Waiting...

[Demeter]

43. Another Economic History Lesson--The Secret of Oz MUST SEE!

http://www.youtube.com/watch?v=U71-KsDArFM&feature=player_embedded

[Pale Blue Dot]

14. Home Prices Will Decline for Years: Zuckerman

http://www.cnbc.com/id/40887670

Home prices will continue to decline for several years, Mort Zuckerman, the chairman and CEO of Boston Properties, told CNBC Monday.

“I’m pessimistic about residential real estate,” said Zuckerman, whose firm specializes in high-end commercial real estate and last week bought the iconic John Hancock Tower in Boston’s Back Bay for $930 million.

Zuckerman, who is also the chairman and editor in chief of the weekly news magazine U.S. News & World Reports and publisher of the New York Daily News, blamed the continuing price decline on the so-called shadow inventory of foreclosed homes that's yet to come on the market.

“That’s what’s going to put downward pressure on residential prices,” Zuckerman added, “And in my judgment, that’s going to continue for several years.”

[Tansy_Gold]

18. Ya think so, Mort?

It just gripes me no end when people like this -- so far removed from reality that they don't have a fucking clue -- come out with these pronouncements like it's something NEW that no one ever thought of before.

Sheesh. What a wanker.




TG, TT

[PassingFair]

20. I pretty much won't watch the McLaughlin Group because of that "wanker".

When I find myself agreeing more with Pat Buchanan
than I do with the fellow on the "left"....


it's time to switch the channel.

[Demeter]

21. This is one of the steps to "Recovery" Tansy!

As in being a recovering alcoholic, or other addict: Truth-telling, the end of denial, somewhere between Steps 4 and 5.

http://www.12step.org/the-12-steps.html

Don't hold your breath waiting for Step 9: Made direct amends to all persons we had harmed wherever possible, except when to do so would injure them or others...

That just wouldn't be good business!

[xchrom]

16. kick

[Demeter]

17. Bank of America Pays for Soured Loans

http://online.wsj.com/article/SB10001424052748704111504576059443159161336.html?mod=WSJ_myyahoo_module

Bank of America Corp. began to put one of its most vexing problems behind it by paying Fannie Mae and Freddie Mac almost $3 billion to cover bad mortgages the government agencies purchased from the bank's Countrywide Financial mortgage unit.

For several years, requests have been piling up for the nation's largest bank by assets to repurchase mortgages that allegedly ran afoul of its own underwriting standards. Total new mortgage repurchase claims amounted to $12.8 billion at the end of the third quarter, and about $6.8 billion of that amount was from Fannie and Freddie. The settlement on Monday, which began to thin the cloud of uncertainty over the bank, helped to allay investors' concerns that the mounting requests could overwhelm the bank.

Investors pushed shares up 85 cents, or 6.4%, to close at $14.19 as the amounts paid to Fannie and Freddie were largely in line with what many had expected.

But the settlement doesn't affect the roughly $6 billion in repurchase requests from insurers and private investors who purchased Countrywide and Bank of America loans. Compounding the problem of uncertainty, analysts are divided about how damaging the private requests could be. Their estimates of the bank's ultimate exposure vary wildly, ranging from $8 billion to $35 billion...

I DOUBT THAT THAT WILL BE THE END OF IT...BUT THE FIX IS IN. 3 OUT OF 6.8? SANTA'S AWFULLY GENEROUS TO THE BAD BOY...

[Demeter]

19. Good Morning Everyone! PBD Can You Do This?

I think this video should be added to our permanent collection:

http://www.therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=6000

[xchrom]

24. +1

[Demeter]

25. Bank of America Scrambling to Mount Defense Amid Threat of Devastating WikiLeaks Reveal

http://www.alternet.org/newsandviews/article/420980/bank_of_america_scrambling_to_mount_defense_amid_threat_of_devastating_wikileaks_reveal/#paragraph3

A team of Bank of America officials is scrambling to investigate its own documents and executives' hard drives in an effort to be prepared, should WikiLeaks release devastating materials about the bank...Although the bank initially said it had "no evidence that supports this assertion," the New York Times reports that over the past few months Bank of America officials have been scurrying to preemptively build a defense:

A team of 15 to 20 top Bank of America officials, led by the chief risk officer, Bruce R. Thompson, has been overseeing a broad internal investigation — scouring thousands of documents in the event that they become public, reviewing every case where a computer has gone missing and hunting for any sign that its systems might have been compromised.

In addition to the internal team drawn from departments like finance, technology, legal and communications, the bank has brought in Booz Allen Hamilton, the consulting firm, to help manage the review. It has also sought advice from several top law firms about legal problems that could arise from a disclosure, including the bank’s potential liability if private information was disclosed about clients.

In other words, bank executives are shaking in their boots -- and you can bet others in corporate America are doing the same, should Assange decide to come after them next. Assange has lived up to his threats in the past, so they have every right to be worried...

[Grinchie]

56. I read this as Premptive Message Laundering by BOA in preparation for the leak.

First of all, it lets Johnny lunchbox know that it's going to be about BOA. Is this true? Has Wikileaks even named the organization yet?

If they haven't, then this raises a red flag as far as the foul smell of Propaganda is concerned.

It this is the case, then this is some sort of damage control being erected for BOA when the facts arrive. because the shock and awe will have been defused, and the brain dead American public will have gone back to more interesting stories such as Ballon Boy or dancing with the stars.

[Demeter]

32. BofA to pay $2.6bn to Freddie and Fannie

Bank of America has taken a big step towards resolving claims that its Countrywide Financial unit sold loans based on faulty information by agreeing to pay $2.6bn to Fannie Mae and Freddie Mac

Read more >>
http://link.ft.com/r/4RNQTT/ZBSH2N/87I64/0GSD5Q/C5U16U/OS/t?a1=2011&a2=1&a3=4

EVEN WORSE NUMBERS FROM FT. WHICH IS CLOSER TO THE TRUTH?

[Demeter]

26. Why Aren't US Students Rioting Over Crazy Tuition Hikes Like College Kids in Europe?

JUST A GUESS HERE---KENT STATE?

http://www.alternet.org/story/149398/why_aren%27t_us_students_rioting_over_crazy_tuition_hikes_like_college_kids_in_europe?page=entire

...In fact, all across Europe students are revolting. For months, Italian students have been protesting tuition cuts and budget reforms. Greek students have not responded kindly to IMF endorsed austerity measures. And proposed cuts to the pension system have driven French students, in typical fashion, apoplectic.

Courtney Martin in The American Prospect asks: “But why are the U.K. crowds almost 500 times as robust as those in the U.S.? Why does the American movement to fight tuition hikes and funding cuts remain so anemic in comparison?” And she answers her question: “In no small part, it's because privileged students at America's colleges and universities generally don't take the issue personally. Those who are politically active tend to set their sights on distant horizons—the poor in India, say, or the oppressed in Afghanistan.”

When the young and privileged take their “do-gooderism” abroad, they take a lot of the energy for local activism with them. Interesting rationale, but I don’t think it fully explains the discrepancy.

What best explains the dormancy on many college campuses is rooted in a national condition. The social value placed on universally accessible higher education has declined. College used to be dramatically less expensive because it was heavily subsidized by the state. The past few decades have seen “massive disinvestment”. In the accompanying time, the burden of financing higher education has shifted to the individual.

Or as Tom Hayden, one of the co-founders of Students for a Democratic Society, told me “The question for today’s student is not whether they can read Zinn, Anais Nin or Noam Chomsky, but whether they can afford to.”...Public higher education is no longer seen as serving the broader social good. And if you can afford college—likely through high indebtedness—the four, five, or six years you’re there are spent making yourself more employable. Colleges aren’t enabling greater democratic citizenship anymore, they’re producing wage earners. There is a trend towards privatization and commoditization that’s quite troubling....

BUT IN THE END, THERE'S THAT GREAT UNSPOKEN FACT--THE GOVERNMENT HAD NO COMPUNCTION OF FIRING ON UNARMED, PROTESTING STUDENTS IN THE PAST, BACK WHEN WE THOUGHT WE WERE A DEMOCRACY...

Legal action against the guardsmen and others

Eight of the guardsmen were indicted by a grand jury. The guardsmen claimed to have fired in self-defense, a claim which was generally accepted by the criminal justice system. In 1974 U.S. District Judge Frank Battisti dismissed charges against all eight on the basis that the prosecution's case was too weak to warrant a trial...

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

Civil actions were also attempted against the guardsmen, the State of Ohio, and the president of Kent State. The federal court civil action for wrongful death and injury, brought by the victims and their families against Governor Rhodes, the President of Kent State, and the National Guardsmen, resulted in unanimous verdicts for all defendants on all claims after an eleven week trial. The judgment on those verdicts was reversed by the Court of Appeals for the Sixth Circuit on the ground that the federal trial judge had mishandled an out-of-court threat against a juror. On remand, the civil case was settled in return for payment of a total of $675,000 to all plaintiffs by the State of Ohio (explained by the State as estimated cost of defense) and the defendants agreement to publicly state they regretted what had happened:

"In retrospect, the tragedy of May 4, 1970 should not have occurred. The students may have believed that they were right in continuing their mass protest in response to the Cambodian invasion, even though this protest followed the posting and reading by the university of an order to ban rallies and an order to disperse. These orders have since been determined by the Sixth Circuit Court of Appeals to have been lawful.

Some of the Guardsmen on Blanket Hill, fearful and anxious from prior events, may have believed in their own minds that their lives were in danger. Hindsight suggests that another method would have resolved the confrontation. Better ways must be found to deal with such a confrontation.

We devoutly wish that a means had been found to avoid the May 4th events culminating in the Guard shootings and the irreversible deaths and injuries. We deeply regret those events and are profoundly saddened by the deaths of four students and the wounding of nine others which resulted. We hope that the agreement to end the litigation will help to assuage the tragic memories regarding that sad day."

It is uncertain whether the 2010 audio analysis of the tape that Canfora found – analysis that concluded that the guards were ordered to fire – will lead to further legal action. According to Sanford Rosen, one of the plaintiffs' attorneys in the civil case, the new revelations may prove more relevant to the historical record than to any legal findings. Because of the Double Jeopardy clause the guards can not be prosecuted again by the Federal Government although they could be by state and local authorities. Rosen noted guardsman could use the order as a defense.<23> On May 10 Alan Canfora who with others are considering launching new civil actions, said he will ask United States Attorney General Eric Holder and Ohio Attorney General Richard Cordray to review the tape...

[Ghost Dog]

45. Mmmm. n/t

[Demeter]

28. Obama's Economic Report Card: A+ for Helping the Wealthy -- Failing the Rest of Us

http://www.alternet.org/story/149394/obama%27s_economic_report_card%3A_a%2B_for_helping_the_wealthy_--_failing_the_rest_of_us?page=entire

A higher stock market is of little comfort to the millions who don't have jobs, are facing foreclosure, fraudulent or otherwise, or have no health coverage...

[Tansy_Gold]

29. kick

[Demeter]

31. Goldman deal values Facebook at $50bn

Facebook has raised $500m for further expansion from Goldman Sachs and Digital Sky Technologies in a deal that values the dominant social network at $50bn

Read more >>
http://link.ft.com/r/4RNQTT/ZBSH2N/87I64/0GSD5Q/JI86ZO/OS/t?a1=2011&a2=1&a3=4



THERE HAS GOT TO BE A MAJOR SCAM IN THE WORKS, HERE. I DON'T FACEBOOK. ANYBODY SEE THE HOOK IN THE BAIT?

[Grinchie]

57. Facebook, Twitter, Myspace -- They are all information Seine nets

These sites are nothing more than another way to classify and categorize the population in order to find out the most effective button to push in order to amintain control.

Social networks my ass. How about having dinner with your neighbors once in a while, or perhaps getting out in the yard and talking to people in your community face to face...

Nah, that's so old school.. Need a glorified adding machine to do that now.

Consider this little factoid.. Whats easier for a Computer to analyze. An Email, a book, or someones deeppest thoughts distilled into 144 characters, complete with location, identity, and credit report?

Do the math.

[Demeter]

33. 3D fails to lift Hollywood box office take

The great 3D film revolution is failing to live up to its initial promise with US cinema attendance falling close to 10 per cent in 2010 and end-of-year movies failing to lift the gloom

Read more >>
http://link.ft.com/r/4RNQTT/ZBSH2N/87I64/0GSD5Q/GKHBV1/OS/t?a1=2011&a2=1&a3=4

BECAUSE IN THE END, THE PLAY'S THE THING WHEREIN TO CATCH THE CONSCIENCE OF THE KING CONSUMER...AND THE QUALITY OF THE PRODUCT IS DEPENDENT ON THE WRITERS AND ACTORS, NOT THE SPECIAL EFFECTS.

[Grinchie]

58. Another black eye for the 3D revolution was "Low Introductory Rates!"

I recall they really worked hard to get the mystique of 3D into theatres, and they subsidized it by not charging premiums for the first year or two. But then, out of the blue, they started adding $5 per ticket and the consumer said, no thanks.

I know I do. If theatrical venues were such a loss leader, they would have gone out of business ages ago. But the fact is that they make oodles of money. They are just a bunch of money hungry people just like everyone else.

[Demeter]

34. India eyes drug industry ownership curbs

An outcry over foreign takeovers of Indian pharmaceuticals companies has prompted the government to consider imposing limits on overseas ownership of domestic businesses in the sector

Read more >>
http://link.ft.com/r/4RNQTT/ZBSH2N/87I64/0GSD5Q/YHKDJW/OS/t?a1=2011&a2=1&a3=4

NOW, TO SEE IF INDIA WALKS THE PROTECTIONIST WALK, OR IF THEY CAVE, AS THE US GOVERNMENT DID BACK IN THE 70'S...SELLING OUR HIGH TECH TO JAPAN...

[Demeter]

41. India to drop US buck in Iran oil dealing

http://english.ruvr.ru/2011/01/01/38523281.html

India may drop the US dollar as payment for oil from Iran. The replacement would be the Japanese yen and the Emirates dirham.

According to London’s Asharq Al-Awsat, the switch could help India avoid American retaliation for dealing with the Iranians.

Iran is under international sanctions for refusing to come clean on the nature of its nuclear energy programme. The United States has unilaterally imposed some extra sanctions.

TAKE THAT, USA! BLOWING UP PAKISTAN WILL GET YOU NO CONSIDERATION IN INDIA!

[Demeter]

42. INDIA, IRAN WORKING OUT MECHANISM TO CONTINUE TRADE

http://www.tradingmarkets.com/news/stock-alert/bkiaf_india-iran-working-out-mechanism-to-continue-trade-1396704.html

Sources said the two-side are exploring new mechanism to circumvent the ACU (Asian Currency Union) framework so that the bilateral trade could continue...RBI (Reserve Bank of India) last week asked importers of goods from Iran to settle their payments outside the ACU (Asian Currency Union) framework, subsequent to which payments cannot be made in dollar or euro...

[Demeter]

35. Amazon steps up EU growth

The world’s largest online retailer is stepping up its expansion in the European Union with an enlarged network of distribution centres and a drive to sell into new markets

Read more >>
http://link.ft.com/r/4RNQTT/ZBSH2N/87I64/0GSD5Q/WLWX94/OS/t?a1=2011&a2=1&a3=4

THIS IS A BUSINESS PLAN THAT WILL NOT SURVIVE THE FIRST LITTLE CATASTROPHE...

[Demeter]

36. Foreigners abandon Polish property market

Polish property prices fell about 10 per cent after the 2008 global crisis, much less than in Ireland or Spain but enough to cause big problems for overoptimistic investors

Read more >>
http://link.ft.com/r/J0VG55/V1YPJK/DXJ2Y/UUDM7O/5CSJIR/AZ/t?a1=2011&a2=1&a3=4

[Demeter]

37. GANDHI ON WIKILEAKS (OR SO IT WOULD SEEM)

"Truth never damages a cause that is just." -Mahatma Gandhi

[Demeter]

39. Now the rich get richer quicker By James Carroll

http://www.boston.com/bostonglobe/editorial_opinion/oped/articles/2011/01/03/now_the_rich_get_richer_quicker/

...If a just society is defined by the relationship between the well off and the very poor, we have big trouble. US Census data for 2010 show the widest rich-poor income gap on record. In 1968, the top 20 percent of Americans had about 7 times the income of those living below the poverty line. By 2008, that disparity had grown to about 13. By 2010, it had grown even further, to more than 14. The poverty level in 2010 was put at $21,954 for a family of four. In 2010, the percentage of Americans living below half of the poverty line (or about $11,000) had grown from 5.7 percent in 2008 to 6.3 percent. That the rich get richer while the poor get poorer can seem a timeless cliché, yet something is steadily corroding America. The mythic land of equality has the largest income disparity of any Western nation. How can that be?

These figures show that the shocking economic collapse of the last two years has been no collapse whatsoever for the most affluent, even while it remains traumatic for most, and catastrophic for many. Yet instead of generating a sense of moral urgency, this condition has produced a spirit of entitlement among the privileged, complacency among the struggling middle, and resignation among the impoverished. How else account for the most decisive judicial act of 2010 — the Supreme Court ruling in January that elite-protecting political spending by corporations must be unrestrained — and the most decisive legislative act — the December extension by Congress of massive tax cuts for that wealthiest sub-minority? And who can deny that the court decision led directly to the congressional act?

MORE--PACKS A PUNCH! MUST READ!

[xchrom]

46. +1

[Pale Blue Dot]

47. Unemployment up in two-thirds of metro areas

Sharp reversal from the previous month and the most since June

Unemployment rates rose in more than two-thirds of the nation's largest metro areas in November, a sharp reversal from the previous month and the most since June.

The Labor Department says unemployment rates rose in 258 of the 372 largest cities, fell in 88 and remained the same in 26. That's worse than the previous month, when the rate fell in 200 areas and rose in 108.

The economy is strengthening, but employers have been reluctant to create jobs. Hiring will pick up in 2011, but not enough to significantly lower the unemployment rate, economists forecast.

Many laid-off workers are giving up. In states such as Michigan, unemployment rates are falling because more people have stopped looking for work. Once they do, the government no longer counts them as unemployed.

http://www.msnbc.msn.com/id/40912172/ns/business-stocks_and_economy/

[Ghost Dog]

48. Jesus. n/t

[Pale Blue Dot]

49. State Foreclosure Settlements to Start With Biggest Banks, Iowa AG Says

http://www.bloomberg.com/news/2011-01-03/state-foreclosure-settlements-to-start-with-biggest-banks-iowa-ag-says.html

The five largest loan servicers, including Bank of America Corp. and JPMorgan Chase & Co., may be the first to settle with the 50 state attorneys general probing foreclosure practices, Iowa Attorney General Tom Miller said.

No settlements have been reached yet, Miller said yesterday in a phone interview. The other three are Citigroup Inc., Wells Fargo & Co. and Ally Financial Inc., said Miller, the leader of the 50-state investigation. The five have 59 percent of the U.S. market, Miller said.

“What we’re looking at is five separate agreements with the five largest servicers,” Miller said. “We’re still a ways away” from reaching agreements, he said. “We’re working very hard to figure out what should be in the settlement.”

All 50 U.S. states are investigating whether banks and loan servicers used false documents and signatures to justify hundreds of thousands of foreclosures. The probe, announced Oct. 13, came after JPMorgan and Ally Financial’s GMAC mortgage unit said they would stop repossessions in 23 states where courts supervise home seizures, and Bank of America, the largest U.S. lender, froze foreclosures nationwide.

___

Looks like all 50 states may settle with the banks. Hooray for justice! :nuke:

[Demeter]

52. Justice Will Be Dismantling the Zombie Banks and Jailing the Banksters

This will constitute a mere "insult" to the govts. How did Gilbert's Pooh-Bah put it?

"...It is consequently my degrading duty to serve this
upstart as First Lord of the Treasury, Lord Chief Justice,
Commander-in-Chief, Lord High Admiral, Master of the Buckhounds,
Groom of the Back Stairs, Archbishop of Titipu, and Lord Mayor,
both acting and elect, all rolled into one. And at a salary! A
Pooh-Bah paid for his services! I a salaried minion! But I do
it! It revolts me, but I do it!

NANK. And it does you credit.

POOH. But I don't stop at that. I go and dine with
middle-class people on reasonable terms. I dance at cheap
suburban parties for a moderate fee. I accept refreshment at any
hands, however lowly. I also retail State secrets at a very low
figure. For instance, any further information about Yum-Yum
would come under the head of a State secret. (Nanki-Poo takes his
hint, and gives him money.) (Aside.) Another insult and, I
think, a light one!

................................

POOH. Of course, as First Lord of the Treasury, I could
propose a special vote that would cover all expenses, if it were
not that, as Leader of the Opposition, it would be my duty to
resist it, tooth and nail. Or, as Paymaster General, I could so
cook the accounts that, as Lord High Auditor, I should never
discover the fraud. But then, as Archbishop of Titipu, it would
be my duty to denounce my dishonesty and give myself into my own
custody as first Commissioner of Police.

KO. That's extremely awkward.

POOH. I don't say that all these distinguished people
couldn't be squared; but it is right to tell you that they
wouldn't be sufficiently degraded in their own estimation unless
they were insulted with a very considerable bribe.

.........................................

and so forth.

[Ghost Dog]

54. Or, so fifth,

even.

:)

http://www.rtve.es/#crn_radio3 (click "Radio 3").