STOCK MARKET WATCH, Thursday, March 3, 2011

[Pale Blue Dot]

Source: du

STOCK MARKET WATCH, Thursday, March 3, 2011

AT THE CLOSING BELL ON March 2, 2011

Dow 12,066.80 +8.78 (+0.07%)
Nasdaq 2,748.07 +10.66 (+0.39%)
S&P 500 1,308.44 +2.11 (+0.16%)
10-Yr Bond... 3.47 0.00 (0.00%)
30-Year Bond 4.57 +0.00 (+0.09%)

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Market Conditions During Trading Hours

Euro, Yen, Loonie, Silver and Gold

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Handy Links - Market Data and News:Economic Calendar    Marketwatch Data    Bloomberg Economic News    Yahoo! Finance    Google Finance    Bank Tracker    
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Handy Links - Government Issues:
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Handy Links - Videos:
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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

Mar 03 08:30 Initial Claims 02/26 400K 400K 391K
Mar 03 08:30 Continuing Claims 02/19 3800K 3800K 3790K
Mar 03 08:30 Productivity-Rev. Q4 2.4% 2.3% 2.6%
Mar 03 08:30 Unit Labor Costs - Revised Q4 -0.6% -0.4% -0.6%
Mar 03 10:00 ISM Services Feb 60.0 59.0 59.4

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

[Pale Blue Dot]

2. Oil falls to near $101 amid Libya mediation hopes

SINGAPORE – Oil prices fell to near $101 a barrel Thursday in Asia amid efforts toward a mediated resolution to the conflict in Libya which has cut crude supplies by more than half from the OPEC nation.

Benchmark crude for April delivery was down $1.06 at $101.17 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract added $2.60 to settle Wednesday at $102.23, the highest settlement since Sept. 26, 2008.

In London, Brent crude for April delivery was down $1.50 to $114.85 a barrel on the ICE Futures exchange.

President Hugo Chavez has spoken with Moammar Gadhafi about creating a bloc of friendly countries to help mediate a resolution to Libya's crisis, Venezuela's information minister said Wednesday. Venezuelan officials did not say how Gadhafi had responded to the proposal.

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

[Po_d Mainiac]

3. The DX is at 76.6...3mo low..n/t

[Po_d Mainiac]

6. Oil over $100/Bbl as

the Northeast enters the 4th trimester of winter....Read: disposable portion of incomes vanish.

[Demeter]

13. Bernanke: To Respond As Needed If Sustained Rise in Oil Price

http://imarketnews.com/node/27128

Federal Reserve Chairman Ben Bernanke Tuesday said the rise in oil and other commodity prices is likely to have only a "temporary" and "relatively modest" impact on inflation, but said the Fed is prepared to "respond as necessary" if there is a "sustained" rise in those prices in congressional testimony.

Bernanke, delivering the Fed's semi-annual Monetary Policy Report to Congress, did not say what the nature of that response might be, saying that "sustained rises" in commodity prices could work in two different directions -- both hurting growth and endangering price stability.

Bernanke downplayed the influence of movements in the dollar exchange rate on oil prices.

The Fed chief's other comments before the Senate Banking Committee were very similar to testimony he gave on Feb. 9 to the House Budget Committee...


OF COURSE HE WOULDN'T SAY..HE HASN'T A CLUE. HE'LL PROBABLY JUST DUMP MORE MONEY ON THE BANKSTERS.

[Po_d Mainiac]

17. As long as oil/food hikes don't hinder the Russell 2000

the bernank be happy.

World events should be pushing the U$D up. Instead, the FED has trashed the "flight to safety" the greenback used to represent.

[Po_d Mainiac]

4. Dead chairman in your pocket?

China aims to allow all exporters and importers to settle cross-border trades in the yuan by 2011, according to the Chinese central bank, reported Reuters.

Read more: http://www.ibtimes.com/articles/117991/20110302/china-yuan-trade-reserve-currency.htm#ixzz1FXKz6Hj5

not the chairsatan..Mao

[Pale Blue Dot]

5. U.S. Stock-Index Futures Rise; General Electric, Pfizer Advance in Europe

U.S. stock-index futures rose, indicating that the Standard & Poor’s 500 Index may climb for a second day, as the oil price fell and investors awaited a report that may show service industries maintained a pickup in growth.

General Electric Co., the world’s biggest maker of power- generation equipment, advanced in Europe as oil dropped for the first time in three days in New York. Pfizer Inc. (PFE), the world’s biggest drugmaker by sales, also increased in European trading.

March contracts on the S&P 500 climbed 0.7 percent to 1,315.3 at 10:43 a.m. in London. U.S. stocks rose yesterday as signs that the job market is strengthening bolstered optimism the economy can withstand a surge in oil prices. Dow Jones Industrial Average futures gained 0.6 percent to 12,120 and Nasdaq-100 Index futures also increased 0.6 percent to 2,337.5.

“We expect data will show that economic recovery is present,” said Virginie Robert, Paris-based managing director at Raymond James Asset Management International, which oversees about $33 billion worldwide. “The market is focusing on signs from the economy. The engine has been started, but things will be easier for some companies than for others. It will be a year of stock picking.”

http://www.bloomberg.com/news/2011-03-03/u-s-stock-index-futures-rise-general-electric-pfizer-advance-in-europe.html

[Demeter]

7. REPORT: How Koch Industries Makes Billions By Demanding Bailouts And Taxpayer Subsidies (Part 1)

http://thinkprogress.org/2011/03/01/charles-koch-welfare/

Koch Industries, the international conglomerate owned by Charles and David Koch, is not only the second largest private company in America, it is the most politically active. As ThinkProgress has carefully documented over the last three years, Koch groups have spent tens of millions to influence government policy — from financing the Tea Parties, to funding junk academic studies, to undisclosed attack ads against Democrats, to groups promoting climate change denial, to a large network of state-based and national think tanks. In an opinion column for the Wall Street Journal today, Koch Industries CEO Charles Koch fired back at his critics, who have grown more vocal as it has become clear that Koch groups are providing the political muscle for Gov. Scott Walker’s (R-WI) union-busting power grab. In his piece, Charles portrays himself as simply an ideological advocate, and says his money to political groups is only meant to “enhance true economic freedom.” He chides special interests that have “successfully lobbied for special favors,” claiming “crony capitalism is much easier than competing in an open market.” But in reality, the focus of the Koch political machine is geared towards “crony capitalism” — corrupting government to make Charles and his brother David Koch richer. Koch’s Tea Party libertarianism is actually a thin veneer for the company’s long running history of winning special deals from the government and manipulating the market to pad Koch profits:

– The dirty secret of Koch Industries is its birth under the centrally-planned Soviet Union. Fred Koch, the founder of the company and father of David and Charles, helped construct fifteen oil refineries for Joseph Stalin before expanding the business in the United States.

– As Yasha Levine has reported, Koch exploits a number of government programs for profit. For instance, Georgia Pacific, a timber company subsidiary of Koch Industries, uses taxpayer money provided by the U.S. Forestry Service to provide their loggers with taxpayer-funded roads and access to virgin growth forests. “Logging companies such as Georgia-Pacific strip lands bare, destroy vast acreages and pay only a small fee to the federal government in proportion to what they take from the public,” according to the Institute for Public Accuracy. Levine also notes that Koch’s cattle ranching company, Matador Cattle Company, uses a New Deal program to profit off federal land for free.

– Koch Industries won massive government contracts using their close relationship with the Bush administration. The Bush administration, in a deal even conservatives alleged was a quid pro quo because of Koch’s campaign donations, handed Koch Industries a lucrative contract to supply the nation’s Strategic Petroleum Reserve with 8 million barrels of crude oil. The SPR deal, done initially in 2002, was renewed in 2004 by Bush administration officials. During the occupation of Iraq, Koch won significant contracts to buy Iraqi crude oil.

– Although Koch campaigned vigorously against health reform — running attack ads, sponsoring anti-health reform Tea Parties, and comparing health reform to the Holocaust — Koch Industries applied for health reform subsidies made possible by the Obama administration.

– The Koch brothers have claimed that they oppose government intervention in the market, but Koch Industries lobbies aggressively for taxpayer handouts. In Alaska, blogger Andrew Halcro reported that a Koch subsidiary in Fairbanks asked Gov. Sarah Palin’s administration to use taxpayer money to bail out one of their failing refinery.

– SolveClimate recently reported that Koch Industries will reap huge profits from the proposed Keystone XL Pipeline, which runs from Koch-owned tar sands mining centers in Canada to Koch-owned refineries in Texas. To build the pipeline, politicians throughout the Midwest, many of whom have received large Koch campaign donations, have used eminent domain — government seizures of private land. In Kansas, where Koch-funded officials advise Gov. Sam Brownback (R-KS) and the Republican legislature, the Keystone XL Pipeline is likely to receive a property tax exemption of ten years, a special loophole that will cost Kansas taxpayers about $50 million.

– Koch Industries has been the recipient of about $85 million in federal government contracts mostly from the Department of Defense. Koch also benefits directly from billions in taxpayer subsidies for oil companies and ethanol production...

[Demeter]

10. Watchdog on Charles Koch Op-ed: The Hypocrisy is Palpable

http://campaignmoney.org/press-room/2011/03/01/watchdog-charles-koch-op-ed

Washington, D.C.—Public Campaign Action Fund released background information today in response to Charles Koch’s Wall Street Journal op-ed bemoaning “crony capitalism” and “special favors."

“Charles Koch’s op-ed today should be in The Onion, not the Wall Street Journal,” said David Donnelly, national campaigns director for Public Campaign Action Fund. “Koch Industries is the perfect example of absolutely everything Charles claims to hate about our current political system. The hypocrisy is palpable.”

BACKGROUNDER
KOCH’S OP-ED: IS IT IRONY OR HYPOCRISY

In response to Koch Industries’ CEO Charles G. Koch’s opinion piece in the Wall Street Journal today, campaign finance watchdog Public Campaign Action Fund compared some of Koch’s statements with reality.

Irony

Koch: “Too many businesses have successfully lobbied for special favors and treatment by seeking mandates for their products, subsidies (in the form of cash payments from the government), and regulations or tariffs to keep more efficient competitors at bay.”

Hypocrisy

* Koch Industries, its executives, and its PAC donated $11,002,235 since 1989 to federal candidates, parties, and political committees.

* The largest individual donors from all Koch-related donations were Charles and David Koch and their wives, who together contributed $2.8 million over the same time period. Of that, just $1,500 went to Democrats.

* Members of the House Energy and Commerce Committee have received $630,950 in Koch-related donations. House Appropriations members have received $656,115.

* Koch Industries, its subsidiaries, and their PACs and employees donated $8,743,220 to state candidates, political parties, and committees since 2003.

* Koch Industries has spent $49,520,500 lobbying the federal government in just the last five years, for an average of nearly $10 million per year. In 2008, they spent more than $20 million lobbying the federal government.

* In January this year, Koch Industries hired seven lobbyists in Madison, Wisconsin.

Irony

Koch: “Crony capitalism is much easier than competing in an open market. But it erodes our overall standard of living and stifles entrepreneurs by rewarding the politically favored rather than those who provide what consumers want.”

Hypocrisy

* Koch Industries, like other oil companies, benefits from the massive federal subsidies from the federal government. President Obama has proposed eliminating them, which will save taxpayers $43 billion over the next ten years.

* Nowhere in his op-ed does Koch mention the subsidies.

* Oil and gas interests like Koch donated $27,582,799 in the 2010 election cycle. The largest source was Koch-related donations at $1,911,212.

* Seventy-one percent went to Republicans, who have almost exclusively opposed ending subsidies, with just 22 percent going to Democrats, who almost all supported ending the subsidies.

* For Koch-related donations, 93 percent went to the GOP and six percent went to the Democrats.

BACKGROUND

Mr. Koch, along with his brother David, has played an outsized role in the political showdown in Wisconsin between Governor Scott Walker and state employees:

* An organization the Koch brothers founded, Americans for Prosperity is running $342,200 worth of television adverting in the state.

* Their political action committee was among the top donors to Walker’s campaign, giving $43,000.

* Last week, a blogger impersonated David Koch and spoke with Walker for 20 minutes about strategy. The embarrassing prank unveiled the tremendous influence and access the Koch brothers have.

* Koch Industries gave more than $1.2 million to the Republican Governors Association, which spent $5 million to elect Walker in 2010 according to the organization’s website.

Except where otherwise noted, campaign finance and lobbying data in this fact sheet can be found at the websites for Center for Responsive Politics for federal figures and the National Institute for Money in State Politics for state figures.

[Tansy_Gold]

24. +billions and billions n/t

[tclambert]

39. Blame the editors. Koch obviously meant to say he hates crony capitalism when other people do it.

The editor must have cropped off the last 5 words to make room for more ad space.

[Demeter]

8. Electric Vehicles: Myths vs. Reality

http://www.sierraclub.org/electric-vehicles/myths.aspx

Myth 1: Switching to an electric vehicle will just mean that the same amount of pollution comes from the electricity generation rather than from the tailpipe — I'll just be switching from oil to coal.

Reality: According to a range of studies, an electric car leads to 35 to 60% less carbon dioxide pollution from electricity than the CO2 pollution from the oil of a conventional car with an internal combustion engine.<1><2><3> In some areas, like many on the West Coast that rely largely on wind or hydro power, the emissions are significantly lower for EVs. And that's today. As we retire more coal plants and bring cleaner sources of power online, the emissions from electric vehicle charging drop even further. Additionally, in some areas, night-time charging will increase the opportunity to take advantage of wind power -another way to reduce emissions.

A caveat to consider, according to some studies, is that when coal plants supply the majority of the power mix in a given area, electric vehicles may emit more CO2 and SO2 pollution than hybrid electric vehicles.<4> Learn where your electricity comes from, what plans your state or community has for shifting to renewables, and whether you have options for switching to greener power.

Myth 2: Plug-in cars will lead to the production of more coal and nuclear plants.

Reality: Even if the majority of drivers switched to electric, the existing electrical grid's off-peak/nighttime capacity for power generation is sufficient without building a single new power plant. Studies have shown that electric vehicle owners will largely charge their vehicles at night when there is plenty of capacity on the grid. In some areas, new "smart charging" allows you and the utility to set up a system by which you and other electricity users distribute the load evenly during charging so that the system is not overwhelmed by increased demand...

MORE

[xchrom]

9. recommend

[Demeter]

11. A Straightforward Criminal Case Against Wall Street CEOs and Senior Executives

http://www.nakedcapitalism.com/2011/03/a-straightforward-criminal-case-against-wall-street-ceos-and-senior-executives.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+NakedCapitalism+%28naked+capitalism%29

Various people who ought to know better, such as the New York Times’ Joe Nocera, haven taken to playing up the party line of the banking industry and I am told, the SEC, that we should resign ourselves to letting senior financial services industry members get away with having looted their firms and leaving the rest of us with a very large bill.

It is one thing to point out a sorry reality, that the rich and powerful often get away with abuses while ordinary citizens seldom do. It’s quite another to present it as inevitable. It would be far more productive to isolate what are the key failings in our legal, prosecutorial, and regulatory regime are and demand changes.

The fact that financial fraud cases are often difficult does not mean they are unwinnable. And a prosecutor does not need to prevail in all, or even most, to serve as an effective cop on the beat.

Contrary to prevailing propaganda, there is a fairly straightforward case that could be launched against the CEOs and CFOs of pretty much every US bank with major trading operations. I’ll call them “dealer banks” or “Wall Street firms” to distinguish them from very big but largely traditional commercial banks like US Bank....

READ HOW AT LINK

[Festivito]

12. Debt: 03/01/2011 14,172,957,589,856.62 (DOWN 21,806,749,606.02) (Tue, DOWN some.)

(Good day.)
Fast morning.
(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)
= 9,562,563,775,550.10 + 4,610,393,814,306.52
DOWN 2,977,641,960.04 + DOWN 18,829,107,645.98

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 $3,210.55 makes 1T$.
A family of three: Mom, Dad, Child: $9.63, ABOUT TEN BUCKS for a 1B$ 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 311,472,992 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 $45,503.01.
A family of three owes $136,509.02. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 20 reports in the last 30 to 28 days.
The average for the last 20 reports is 3,155,735,547.65.
The average for the last 30 days would be 2,103,823,698.44.
The average for the last 28 days would be 2,254,096,819.75.
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$/day.
There were 104 reports in 152 days of FY2011 averaging 5.88B$ per report, 4.02B$/day.
Above line should be okay

PROJECTION:
There are 691 days remaining in this Obama 1st term.
By that time the debt could be between 15.1 and 17.7T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
03/01/2011 14,172,957,589,856.62 BHO (UP 3,546,080,540,943.54 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 +1,651,794,027,380.00 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
FY2011 +0,611,334,558,964.90 ------------* * * * * * * * * * * * * * * BHO
Endof11 +1,468,007,329,093.35 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
02/08/2011 +000,098,708,298.02 ------------*******
02/09/2011 +000,070,875,766.12 ------------*******
02/10/2011 -016,083,331,993.98 -
02/11/2011 -000,131,455,172.80 ---
02/14/2011 -001,050,366,540.96 -- Mon
02/15/2011 +048,146,191,309.44 ------------**********
02/16/2011 +000,114,208,468.26 ------------********
02/17/2011 -011,510,944,063.77 -
02/18/2011 +000,193,465,100.84 ------------********
02/22/2011 +000,575,498,293.73 ------------******** Tue
02/23/2011 +000,604,643,024.49 ------------********
02/24/2011 -006,532,296,295.79 --
02/25/2011 +025,792,712,781.54 ------------**********
02/28/2011 +054,201,582,504.95 ------------********** Mon
03/01/2011 -002,977,641,960.04 --

91,511,849,520.05 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=4753520&mesg_id=4753582

[Festivito]

40. Debt: 03/02/2011 14,178,525,108,267.60 (UP 5,567,518,410.98) (Wed, UP a little.)

(Good day.)
I was to be in Saginaw, Michigan.
(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)
= 9,562,608,771,779.38 + 4,615,916,336,488.22
UP 44,996,229.28 + UP 5,522,522,181.70

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 $3,210.48 makes 1T$.
A family of three: Mom, Dad, Child: $9.63, ABOUT TEN BUCKS for a 1B$ 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 311,480,192 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 $45,519.83.
A family of three owes $136,559.49. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 20 reports in the last 30 to 28 days.
The average for the last 20 reports is 3,100,633,742.95.
The average for the last 30 days would be 2,067,089,161.97.
The average for the last 28 days would be 2,214,738,387.82.
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$/day.
There were 105 reports in 153 days of FY2011 averaging 5.88B$ per report, 4.03B$/day.
Above line should be okay

PROJECTION:
There are 690 days remaining in this Obama 1st term.
By that time the debt could be between 15.1 and 17.7T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
03/02/2011 14,178,525,108,267.60 BHO (UP 3,551,648,059,354.52 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 +0,616,902,077,375.90 ------------* * * * * * * * * * * * * * * BHO
Endof11 +1,471,694,498,315.06 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
02/09/2011 +000,070,875,766.12 ------------*******
02/10/2011 -016,083,331,993.98 -
02/11/2011 -000,131,455,172.80 ---
02/14/2011 -001,050,366,540.96 -- Mon
02/15/2011 +048,146,191,309.44 ------------**********
02/16/2011 +000,114,208,468.26 ------------********
02/17/2011 -011,510,944,063.77 -
02/18/2011 +000,193,465,100.84 ------------********
02/22/2011 +000,575,498,293.73 ------------******** Tue
02/23/2011 +000,604,643,024.49 ------------********
02/24/2011 -006,532,296,295.79 --
02/25/2011 +025,792,712,781.54 ------------**********
02/28/2011 +054,201,582,504.95 ------------********** Mon
03/01/2011 -002,977,641,960.04 --
03/02/2011 +000,044,996,229.28 ------------*******

91,458,137,451.31 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=4755076&mesg_id=4755134

[Demeter]

14. Brokers' frustration as Egyptian exchange remains closed

http://www.thenational.ae/business/markets/brokers-frustration-as-egyptian-exchange-remains-closed

Egypt's stock exchange said yesterday it would delay its reopening for a week as angry traders called for the stock market to resume operations sooner rather than later.

The exchange, which was closed on January 27 following a precipitous fall in market value as civil unrest broke out, will now remain closed until Sunday. The exchange had been expected to reopen today.

Resumption of trading was postponed "in order to allow investors to profit from the backing of the government to guarantee the bourse's stability", the country's state-owned news agency reported yesterday.

A statement posted to the Egyptian Exchange (EGX) said Dr Ahmed Shafik, the Egyptian prime minister, had "asserted the importance of resuming trading on EGX, as this would threaten the exchange's reputation, credibility and its ability to attract investors and companies on the long term".

The country's attorney general has issued a list of investors who are now forbidden to trade, as Egypt tries to trace the deposed Hosni Mubarak regime's financial holdings. However, a head of steam is growing among Egypt's investors eager to resume trading, with many businessmen complaining openly about the latest postponement....

[Demeter]

15. Accidental Death Becomes Suicide When Insurers Dodge Payouts

http://www.bloomberg.com/news/2011-03-01/accidental-death-becomes-suicide-when-insurers-dodge-paying-life-benefits.html

Jane Pierce spent nine years struggling alongside her husband, Todd, as he fought cancer in his sinus cavity. The treatments were working. Then, in July 2009, Todd died in a fiery car crash. He was 46. That was the beginning of a whole new battle for Jane Pierce, this time with Todd’s life insurance company, MetLife Inc.

A state medical examiner and a sheriff in Rosebud County, Montana, concluded that Pierce’s death was an accident, caused when he lost control of his silver GMC pickup after passing a car on a two-lane road.

Their findings meant Jane was eligible to collect $224,000 on the accidental death insurance policy that Todd had through his employer, power producer PPL Corp. MetLife, however, refused to pay. The nation’s largest life insurer told Pierce on Dec. 8, 2009, that her husband had killed himself. The policy didn’t cover suicide, the insurer said, Bloomberg Markets magazine reports in its April issue.

“How dare they suggest such a thing,” says Pierce, 44, a physician assistant in Colstrip, a Montana mining and power production city of 2,346 people.

She says she’s insulted that the man who courageously battled his disease for a decade was accused by an insurance company of abandoning his wife and two sons -- one a U.S. Marine, the other a National Guardsman -- and giving up on his fight to live.

[AnneD]

31. He may have been a fighter but to MetLife....

he is just another dead peasant.

[Demeter]

35. In the End, 'Tis Better to Be a Peasant

as many an aristo has found to his dismay.

and the end is coming...

[Demeter]

16. US oil production revives despite offshore disruption

----------


US oil production last year rose to its highest level in almost a decade, thanks to an increase in the use of “unconventional” extraction techniques .

As a result, analysts believe the US was the largest contributor to the increase in global oil supplies last year over 2009, and is on track to increase domestic production by 25 per cent by the second half of the decade.

Read more >>
http://link.ft.com/r/M2ZOXX/FX2RZ1/WH2F8/TPE61N/OJ55VI/LE/t?a1=2011&a2=3&a3=2

[Hotler]

18. k&r n/t

[xchrom]

19. kick

[mrdmk]

20. k & r, back from a dns vacation! n/t

[Roland99]

21. 9:18am - Futures going thru the roof

S&P 500 1,317 +11.50 +0.88%
DOW 12,137 +91.00 +0.76%
NASDAQ 2,344 +21.00 +0.90%


Must be euphoria over the ipad 2 or something....


:eyes:

[DemReadingDU]

22. Must be happy gamblers

or something
:eyes:

[Tansy_Gold]

23. It's not gambling if you know you're going to win. n/t

[Pale Blue Dot]

25. It's oil and all of the reports have been "good" this morning. nt

[Demeter]

37. All Because of a fake employment number and a couple of bucks off oil

and the illusion that Uncle Ben offers for domestic economy, and ignoring all the real problems....

bah humbug

[hamerfan]

26. K&R!

As I couldn't access DU the last couple of days.
Good to see it and all the regulars are still here.
hamerfan

[DemReadingDU]

29. Access issues too

Happy to see things have been resolved.

[Demeter]

33. We sure missed you!

People have been trickling in all week.

[Roland99]

27. 9:50am - Through the roof!

Dow 12,230 +163 +1.35%
Nasdaq 2,787 +39 +1.41%
S&P 500 1,325 +17 +1.28%
GlobalDow 2,211 +22 +1.02%
Gold 1,422 -15 -1.06%
Oil 101.77 -0.46 -0.45%
Euro /$1US 1.3942 0.0075
$1US / Yen 82.3300 0.4800
Pound / $1US 1.6270 -0.0055
Aud / $1US 1.0151 -0.0018
10yr T-note 3.53 +0.06
2yr T-note 0.75 +0.06

[DemReadingDU]

30. jeezo

The higher it goes, the bigger it will eventually fall

[Demeter]

34. It is insane

Get too high, and it falls on the Big Guys.

[Roland99]

28. ECB rate hike ‘possible,’ Trichet says

http://www.marketwatch.com/story/ecb-rates-unchanged-focus-on-trichet-2011-03-03

European Central Bank President Jean-Claude Trichet warned Thursday that the bank could move as early as next month to hike interest rates in order to keep rising food and raw-material prices from stoking inflation.

At his monthly news conference in Frankfurt, Trichet said a move at the ECB’s next meeting was “possible,” but not a certainty. Trichet said the 23-member Governing Council never pre-commits to a rate move and that a decision will depend on incoming data.

[Demeter]

32. Congress averts shutdown, sends stopgap to Obama

http://www.reuters.com/article/2011/03/02/us-usa-congress-spending-idUSTRE7205MS20110302


...With government funding due to run out on Friday, lawmakers sent Obama a bill that buys them two more weeks to wrestle over funding levels for the fiscal year that lasts through September. Obama promptly signed it into law.

The stopgap bill passed both the Democratic-controlled Senate and the Republican-controlled House of Representatives by wide margins, but party leaders showed little inclination to bridge a $55 billion gap between their two proposals.

House Republicans have passed a spending plan that would impose immediate cuts of 25 percent on domestic operations. Senate Democrats are readying a proposal that would essentially keep spending at current levels after factoring in $4 billion in noncontroversial cuts that were included in the stopgap spending bill, according to an aide.

Obama, who has so far remained relatively aloof from a budget debate that has consumed Capitol Hill for months, named Vice President Joe Biden to lead negotiations between the two chambers.

He will have his work cut out for him.

[xchrom]

36. these will be interesting fire works to watch. nt

[Demeter]

38. Well, this is a Week that Will Live in Infamy

or idiocy, or incredulity, or something that starts with i.

I am grateful to survive, I suppose. At least it stayed above 15F this morning, instead of the 7F that was promised...and half the snow is gone, so the paper route was only half hard.

Got caught up on a few things, none of the things I wanted to do, just contractual stuff, the "have to do" stuff..

It's the anniversary of Alexander Graham Bell's birthday, so perhaps a telephone theme for the weekend, plus a few more dead Presidents....

You would never know it was March, though. We can't even get up to freezing yet. And that wind!