STOCK MARKET WATCH, Thursday, March 17, 2011

[Pale Blue Dot]

Source: du

STOCK MARKET WATCH, Thursday, March 17, 2011

AT THE CLOSING BELL ON March 16, 2011

Dow 11,613.30 -242.12 (-2.08%)
Nasdaq 2,616.82 -50.51 (-1.93%)
S&P 500 1,256.88 -24.99 (-1.99%)
10-Yr Bond... 3.23 +0.02 (+0.75%)
30-Year Bond 4.41 +0.02 (+0.53%)

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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
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. Tons o' Reports

Mar 17 08:30 Initial Claims 03/12 380K 386K 397K
Mar 17 08:30 Continuing Claims 03/05 3750K 3750K 3771K
Mar 17 08:30 CPI Feb 0.3% 0.4% 0.4%
Mar 17 08:30 Core CPI Feb 0.1% 0.1% 0.2%
Mar 17 09:15 Industrial Production Feb 0.5% 0.6% -0.1%
Mar 17 09:15 Capacity Utilization Feb 76.5% 76.5% 76.10%
Mar 17 10:00 Leading Indicators Feb 1.0% 1.0% 0.1%
Mar 17 10:00 Philadelphia Fed Mar 25.0 28.1 35.9

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

[Tansy_Gold]

23. Ah, the wearin' o' the green!

Tansy Gold, who will probably be in orange

[Pale Blue Dot]

25. I've got no time to post specifics, but reports are all middling to poor. nt

[burf]

34. It looks as though

the market is bonkers over the jobs number. +160 on the Dow at the moment.

[Demeter]

39. HOW ABOUT THIS?

Date ET Release For Actual Briefing.com Consensus Prior Revised From
Mar 17 08:30 Initial Claims 03/12 385K 380K 386K 401K 397K
Mar 17 08:30 Continuing Claims 03/05 3706K 3750K 3750K 3786K 3771K
Mar 17 08:30 CPI Feb 0.5% 0.3% 0.4% 0.4%
Mar 17 08:30 Core CPI Feb 0.2% 0.1% 0.1% 0.2%
Mar 17 09:15 Industrial Production Feb -0.1% 0.5% 0.6% 0.3% -0.1%
Mar 17 09:15 Capacity Utilization Feb 76.3% 76.5% 76.5% 76.4% 76.1%
Mar 17 10:00 Leading Indicators Feb 0.8% 1.0% 1.0% 0.1%
Mar 17 10:00 Philadelphia Fed Mar 43.4 25.0 28.1 35.9

Read more: http://www.briefing.com/Investor/Public/Calendars/EconomicCalendar.htm#ixzz1GsMivb4a

[Pale Blue Dot]

2. Oil rises near $99 as traders eye Japan, MidEast

SINGAPORE – Oil prices rose to near $99 a barrel Thursday in Asia as traders watched closely Japan's battle to avoid a full meltdown at a damaged nuclear plant and clashes in Bahrain and Libya.

Benchmark crude for April delivery was up 85 cents at $98.83 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract gained 80 cents to settle at $97.98 on Thursday.

In London, Brent crude was up 94 cents at $111.54 a barrel on the ICE futures exchange.

Japanese military helicopters dumped loads of sea water onto the Fukushima Dai-ichi nuclear complex Thursday in a bid to cool overheated uranium fuel rods that may be close to leaking more radiation. The plant was initially damaged last week by a massive earthquake and tsunami that is estimated to have killed more than 10,000 people and left hundreds of thousands homeless.

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

[Pale Blue Dot]

3. Chris Martenson Alert: Nuclear (and Economic) Meltdown In Progress

It is with a heavy heart that I am now issuing the highest level alert to my readers than I have to date. The threshold for an alert is one or more world events that personally cause me to take action.

I'm making this alert publicly available less than 36 hours after releasing it to my enrolled subscribers given its importance and the speed at which events are accelerating.

The substance of this alert centers on the unknown aftershocks that may result from the world's third largest economy, Japan, rapidly shifting from an exporter of funding to a consumer of it. In situations like these, we are by definition operating with incomplete and often confusing information, and events are developing more rapidly than they can be fully analyzed and internalized. We regret in advance any mistakes that we might make due to making calls and decisions in this highly fluid environment.

This alert warns you that major world-changing events are now underway and that your personal preparations for an uncertain future should either be completed or take on a new sense of urgency. On the basis of the information contained here and in the past two days of posts, I am personally ratcheting up my preparations, making purchases, and topping off what needs to be topped off.

Important caveat: At this point in time, I cannot fully support 100% of my concerns with hard data and evidence. Some of what has tipped me into this state of urgency is data, evidence, and stories that I can point to. Some is due to the absence of data or information, the remainder results from watching market gyrations and correlations shift into new patterns, which tell me something is afoot.

I have not been this concerned since October of 2008.

http://www.chrismartenson.com/blog/alert-nuclear-economic-meltdown-in-progress

Much more at the link. This guy has been right about almost everything for the past several years.

[DemReadingDU]

6. Martenson is real sharp

His Crash Course is a great summary of the economy, environment and energy.
http://www.chrismartenson.com/crashcourse


Occasionally readers of the forum will write helpful topics. The following link is the most recent, but at the bottom, you can find a list of many more helpful topics posted by various readers.

3/16/11 Practical Survival Skills 101 - Understanding Emergencies by Aaron Moyer
http://www.chrismartenson.com/blog/practical-survival-skills-101-understanding-emergencies/54480

[Pale Blue Dot]

4. European Stocks Gain, Ending Six-Day Slide; U.S. Futures Advance

European stocks advanced, halting a six-day slide, amid speculation Group of Seven nations will move to calm markets after Japan’s earthquake-induced nuclear crisis. Japanese shares pared their losses and U.S. futures gained.

Heritage Oil Plc (HOIL) jumped 10 percent after a report that it turned down a takeover bid from an unidentified Abu Dhabi-based company. Siemens AG and Schneider Electric SA (SU) advanced as UniCredit SpA analysts recommended the shares.

The Stoxx Europe 600 Index climbed 0.7 percent to 263.92 at 8:23 a.m. in London. The gauge had tumbled 7 percent over the previous six days after the Japanese temblor and ensuing tsunami shut down cooling systems at the Fukushima Dai-Ichi power station. The decline pushed the measure’s valuation to 12.8 times its companies’ reported earnings, the cheapest since 2008.

http://www.bloomberg.com/news/2011-03-17/european-stocks-climb-ending-six-day-tumble-u-s-index-futures-advance.html

[Fuddnik]

8. The dips are buying. Or something like that.

In other news, I'm Irish. Buy me a drink!

[DemReadingDU]

9. Happy St. Patrick's Day!

[Po_d Mainiac]

19. Drain a couple for me

It's OK for the oncologist to poison me, but I'm not supposed to do it meself...<groan>

[hamerfan]

5. Good morning, PBD,

and everyone else!
Just saying thanks for all the time and effort you all put in to keeping the most informative and entertaining thread here!
hamerfan

[Festivito]

7. Debt: 03/15/2011 14,237,952,276,898.69 (UP 71,921,489,118.89) (Tue, UP big.)

(Good day.)
Early to bed, early to rise, well, early to rise at least.
(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)
= 9,618,473,765,645.37 + 4,619,478,511,253.32
UP 66,006,214,426.70 + UP 5,915,274,692.19

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 312-Million person America.
If every American, man, woman and child puts in $3.21 THAT'S 1B$, and $3,209.51 makes 1T$.
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 311,573,792 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 $45,696.89.
A family of three owes $137,090.66. (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 4,993,357,834.35.
The average for the last 30 days would be 3,328,905,222.90.
The average for the last 28 days would be 3,566,684,167.39.
There were 252 reports in 365 days of FY2007 averaging 1.99B$ per report, 1.37B$/day.
There were 253 reports in 366 days of FY2008 averaging 4.02B$ per report, 2.78B$/day.
There were 75 reports in 112 days of GWB's part of FY2009 averaging 8.03B$ per report, 5.38B$/day.
There were 174 reports in 253 days of Obama's part of FY2009 averaging 7.33B$ per report, 5.07B$/day so far.
There were 249 reports in 365 days of FY2009 averaging 7.57B$ per report, 5.16B$/day.
There were 251 reports in 365 days of FY2010 averaging 6.58B$ per report, 4.53B$/day.
There were 114 reports in 166 days of FY2011 averaging 5.93B$ per report, 4.07B$/day.
Above line should be okay

PROJECTION:
There are 677 days remaining in this Obama 1st term.
By that time the debt could be between 15.2 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)
03/15/2011 14,237,952,276,898.69 BHO (UP 3,611,075,227,985.61 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 +0,676,329,246,006.90 ------------* * * * * * * * * * * * * * * * BHO
Endof11 +1,487,109,486,701.92 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
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 ------------*******
03/03/2011 +008,400,855,808.94 ------------*********
03/04/2011 +000,116,571,384.45 ------------********
03/07/2011 +000,111,602,744.60 ------------******** Mon
03/08/2011 +000,276,984,022.19 ------------********
03/09/2011 +000,555,472,651.94 ------------********
03/10/2011 -020,814,859,511.27 -
03/11/2011 +000,832,058,508.78 ------------********
03/14/2011 +000,380,093,829.66 ------------******** Mon
03/15/2011 +066,006,214,426.70 ------------**********

126,998,990,150.42 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=4772987&mesg_id=4773037

[DemReadingDU]

10. yeh, that's up a lot!

[Festivito]

54. Debt: 03/16/2011 14,232,849,993,955.10 (DOWN 5,102,282,943.59) (Wed, UP some.)

(Good day.)
Is it so much trouble for some people to say things.
(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)
= 9,619,622,421,602.38 + 4,613,227,572,352.72
UP 1,148,655,957.01 + DOWN 6,250,938,900.60

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 312-Million person America.
If every American, man, woman and child puts in $3.21 THAT'S 1B$, and $3,209.44 makes 1T$.
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 311,580,992 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 $45,679.46.
A family of three owes $137,038.37. (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 5,148,015,178.88.
The average for the last 30 days would be 3,432,010,119.25.
The average for the last 28 days would be 3,677,153,699.20.
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$/day.
There were 115 reports in 167 days of FY2011 averaging 5.84B$ per report, 4.02B$/day.
Above line should be okay

PROJECTION:
There are 676 days remaining in this Obama 1st term.
By that time the debt could be between 15.2 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)
03/16/2011 14,232,849,993,955.10 BHO (UP 3,605,972,945,042.02 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 +0,671,226,963,063.40 ------------* * * * * * * * * * * * * * * * BHO
Endof11 +1,467,052,943,222.40 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
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 ------------*******
03/03/2011 +008,400,855,808.94 ------------*********
03/04/2011 +000,116,571,384.45 ------------********
03/07/2011 +000,111,602,744.60 ------------******** Mon
03/08/2011 +000,276,984,022.19 ------------********
03/09/2011 +000,555,472,651.94 ------------********
03/10/2011 -020,814,859,511.27 -
03/11/2011 +000,832,058,508.78 ------------********
03/14/2011 +000,380,093,829.66 ------------******** Mon
03/15/2011 +066,006,214,426.70 ------------**********
03/16/2011 +001,148,655,957.01 ------------*********

127,543,003,082.94 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=4774859&mesg_id=4774874

[xchrom]

11. happy st. patricks day to every one!

:toast:

[xchrom]

12. more on the stock 'gains' here

http://www.marketwatch.com/story/us-futures-point-to-gains-on-wall-street-2011-03-17?dist=beforebell

U.S. futures point to gains for Wall Street
FedEx, Nike in focus ahead of earnings; consumer-price data ahead

By Simon Kennedy, MarketWatch

LONDON (MarketWatch) — U.S. stock futures pointed to solid gains for Wall Street Thursday after worries over Japan sparked heavy selling in the previous session, while investors also awaited a slew of economic data.

[Demeter]

13. Fed's Next Steps as Asset Purchases Wind Down Divide Economists in Survey

http://www.bloomberg.com/news/2011-03-15/fed-s-next-steps-divide-economists-as-asset-purchases-wind-down.html

Federal Reserve policy makers are almost certain to fulfill their plan to buy $600 billion in Treasuries, a survey of economists shows. How they finish the purchases and what they do next is a matter of disagreement.

Of 50 economists surveyed by Bloomberg News last week, 49 said the Fed will buy the full amount of bonds in a bid to boost the economy. Thirty-one said the central bank won’t adjust the pace or duration of the purchases, as it did in the first round of so-called quantitative easing in 2009-10. Respondents were further divided over how long the Fed will keep its bond portfolio stable after the purchases end, with a plurality of 16 betting on a period of four to six months.

The variance of opinion reflects differing assessments of the strength of the U.S. recovery, said Scott Brown, chief economist at Raymond James & Associates Inc. It also shows “uncertainty” about the benefits of the Fed’s policy of reinvesting maturing debt into new securities, which began in August, said Kurt Karl, chief U.S. economist at Swiss Reinsurance Co. in New York.

“You’ve seen the same kind of divisions amongst senior Fed officials,” said Brown, who is based in St. Petersburg, Florida. “Some are more worried about the possibility of higher inflation. Some are more worried about the amount of slack in the economy and believe that amount of slack is going to keep inflation mostly contained.” ...

[Po_d Mainiac]

22. .........

"reinvesting maturing debt into new securities"

Ponzi would be proud

[xchrom]

14. Yen pulls back from record; intervention possible

http://www.marketwatch.com/story/yen-hits-record-high-intervention-possible-2011-03-16?dist=beforebell

LONDON (MarketWatch) — The Japanese yen traded little changed versus the dollar Thursday, but only after retracing from a postwar high reached on deepening fears over Japan’s nuclear crisis.

The U.S. currency /quotes/comstock/21o!x:susdjpy (USDYEN 78.5200, +0.8100, +1.0430%) lately bought 78.54 yen, recovering from a plunge that left it at a low of ¥76.32 in late North American trading on Wednesday and early Asian activity, obliterating the previous postwar low of ¥79.75 set in April 1995.

Meanwhile, the dollar index /quotes/comstock/11j!i:dxy0 (DXY 75.97, -0.71, -0.93%) , a measure of the U.S. unit against six major rivals, stood at 75.956, down from 76.656 late Wednesday. Still, the greenback gained on most rivals other than other safe-haven plays.

[Po_d Mainiac]

21. Carry traders

Were dragged out feet first.

The BoJ may have run outa ink after the Wednesday Nikkei manipulation. Japanese dumping foreign assets to raise Yen are getting hosed.

Watch out on Friday when the last markets that are open for a couple days, are here in the States.

edit to add....And now everything is connected to an extension cord

[Demeter]

15. US feared UK backed "sharia banks" could become centre of terrorist funding: Wikileaks

PARANOIA IN THE MORNING--IT'S WHAT'S FOR BREAKFAST

http://www.dailyindia.com/show/429870.php

Thousands of secret US diplomatic cables released by the whistleblower website 'Wikileaks' have revealed that Britain's support for "sharia banking" had raised concerns in America that London would become the centre of terrorist funding.

Financial reforms pushed through by the Labour government allowed Islamic banks to flourish in Britain, gathering assets amounting to over 12 billion dollars, The Telegraph reports. The US State Department was so concerned that it ordered US diplomats in London to compile a report on the activities of sharia banks in Britain.

The cable, sent from the office of Condoleezza Rice, George Bush's then Secretary of State in June 2006, had asked the diplomats to provide it with information on "Islamic financial institutions' vulnerability to exploitation for illicit or terrorist purposes, such as structuring accounts to mask illicit activity or money laundering".

The US had feared that that "charitable donations", which Islamic banks are obliged to make to comply with the sharia law, could be used by the al-Qaeda supporters.

The United States had also demanded to know whether British regulators and anti-corruption investigators were efficient enough to monitor Islamic banks with "effectiveness", and also asked for information on customers who had accounts with these banks....

[Demeter]

16. Beyond the Crisis of Liberalism

http://www.informationclearinghouse.info/article27687.htm


The problem of liberalism is that in the US – and this is true of all advanced industrial societies – there has been no significant reform of the existing of economic system for decades. In the United States, since the great era of reform in the 1930s, with the New Deal, the last major reform was the establishment of Medicare in 1966. In the UK and other countries, the main period of reform followed the second world war, with the consolidation of the welfare state.

In the US, Medicare was the last serious political advance; there has been nothing significant since. On education and the environment – which have both been more recent targets of liberal reform – we have gone nowhere, or even regressed. So, given the current configuration of world capitalism, it is apparent that what I define as the liberal reform – that is, reform within the capitalist system – has reached a dead end.

To be sure, liberals will call for a return to the politics of the New Deal or the Great Society: if we could cut the military budget, they say, or if we had a progressive tax system, we could restore greater equality and fairness in society and more prosperity for all. But it's not about this proposal or that proposal; the problem is that we don't have a political force that is pushing for fundamental change.

To make qualitative advances on what we have, especially on the environment, would require a radical change in the economic system. Even to solve unemployment, we would need to cut hours and have major intervention by government. The private sector is never going to manage that. And to get this sort of change would involve taking on Wall Street and other entrenched economic interests.

[Demeter]

17. Maybe Marx Was Right After All... Corporate stash soars to $1.9 trillion, but nowhere to invest

http://www.informationclearinghouse.info/article27688.htm

Last Thursday, the Fed released its “flow of funds” report which showed that households had trimmed their debt to $13.3 trillion in the forth quarter (4Q). But the crucial debt-to-income ratio remains significantly above trend at 120.9%. That means that consumers will have to cut their spending even more.

During the boom years, (2000 to 2007) households more than doubled their debt by taking advantage of cheap, easily-available credit for purchasing mortgages, refinancing homes and maintaining their standard of living. Homeowners were able to drain (roughly) $500 billion per year from their rising home equity to spend as they pleased. The credit-binge stimulated demand, increased employment, and created a virtuous circle of profitability and growth. But now the process has slammed into reverse triggering a wave of foreclosures, bankruptcies and defaults. Consumers have been retrenching for 11 straight quarters trying to patch their balance sheets after sustaining heavy losses during the crisis.

Household deleveraging can have a devastating impact on the economy because consumer spending is 70% of GDP. Fortunately, the Obama administration initiated a $787 billion fiscal stimulus package to make up for the shortfall in private sector spending, otherwise the economy would have slipped into a long-term slump. Government spending (the deficits) pulled the economy out of recession, reduced the gaping output gap, and increased employment by an estimated 2 million jobs.

Economists look to the flow of funds report to gauge the health of consumers, but sometimes the data can be misleading. For example, household net worth increased by $2.1 trillion to $56.8 trillion by the end of 4Q, but virtually all of the gains were in the stock market so it won't effect the spending habits of people who aren't invested in equities. As Barron's Randall Forsyth notes, "You have to be in the lottery to win it."

Still, Fed chairman Ben Bernanke sees rising stock prices as a sign that his bond purchasing program (QE2) is working. Like former Fed chairman Alan Greenspan, Bernanke believes that the "wealth effect" can boost spending and lead to recovery. Regrettably, the facts do not support Bernanke's claims. While the administration's fiscal stimulus increased economic activity and employment (according to 2 separate reports by the nonpartisan CBO), QE2 has merely inflated stock prices. There's nothing in the flow of funds report that suggests anything more than a normal cyclical recovery following a deep recession. In other words, QE2 is a bust...

[Po_d Mainiac]

18. Bankrupcy's and walking away from mortgages.

A certain way to give the appearance that households are getting their collective shit together.

Debt may be getting pared, but not in a way that will send the consumer hell-bent to the local mall. YMMV

[xchrom]

20. thanks to straight story: Corporate Profits Hit 18-Year High

http://www.allgov.com/Where_is_the_Money_Going/ViewNews/Corporate_Profits_Hit_18_Year_High_110317

Profit margins are expected to climb nearly 9% this year among companies in the Standard & Poor’s 500 Index, marking an 18-year high.

[Robbien]

24. Even my ignorant ass knows that dropping sea water bombs on the reactors

is a joke. I am getting flashbacks to BP gulf oil spill where a private company is calling the shots on the recovery operation instead of the government. The media is reporting gobbledygook, the utility is scrambling about and we are all expected to blindly believe the experts are in charge.

Tepco is now saying that it will return power to the reactors. No real facts, just lots of happy talk. Stock markets rejoice. Again getting flashback to the BP oil spill.

Meanwhile 12 people died so far in refugee centers where there is no food, no water, nor heat. Medical supplies are a joke. The people are being ignored while only security vehicles are allowed on the roads in the tsunami zones.

All big bank execs have skedaddled Japan days ago with pocketfuls of cash. Private jets are very busy shuttling the wealthy to Hong Kong.

I'm worried.

[Po_d Mainiac]

26. The "Junk Shot" redux n/t

[Robbien]

29. This running of an extension cord to the reactor sounds like their version of BP's top hat

Restarting a rusty 40 year old cooling system which experienced earthquakes, a tsunami, explosions, fires, and having idiots submerge it in tons of salty sea water is as believable as having a cement top hat stopping a powerful surging broken oil pipe under the gulf.

Pfft

[TalkingDog]

28. But the tips are better

As I was working my way through school, one of the many jobs I had was that of wait staff. Usually local Mom and Pop places. And as I became more experienced and better able to read my customers and correlate action with reward, I figured out a very simple trick to increase the amount I was tipped: Look busy.

Not necessarily BE BUSY, although sometimes that just came with the territory. But you had to LOOK busy. Even if there was no fire in the kitchen, if you walked purposefully, and filled napkin holders purposefully, and filled tea purposefully, and blew the stray hair out of your eyes and stopped and smiled like you were taking time out of saving the entire restaurant from collapse, but knew your customers needed you... the tips were much better.

When you made your way into the kitchen or out of sight of your customers, you could stand around for a decent stretch doing absolutely nothing as long as you walked back out like you had just washed every dish and cooked every meal yourself.

Manipulative? Yes. But at 2.30 per hour, I would've huckstered the Pope if he had walked in.

The people in charge of these crises have obviously learned that people will think they are actually accomplishing something if they just keep looking busy.

[Fuddnik]

30. Yeah, throwing a bucket of water on a 5,000 degree slab really helps.

I remember from working in the steel mills, they had to quench hot molds under a continuous stream of water for about 30 minutes, just to get them cool enough for steelworkers to stand close to them, while they poured more molten steel into them. And they were only about 600 degrees, before quenching. Probably less.

[TalkingDog]

31. XPost from GD: Basically storing them in pools of water is asking to be screwn

But hey, it's cheaper....

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x670356

[Robbien]

36. Everyone keeps talking about comparisons to Chernobyl

But Chernobyl didn't store spent rods on its site. Back then the radioactive pollution came from the core meltdown.

Everything about the safety of nuclear energy these days seem much much worse than forty years ago. Forty years ago execs didn't pull bonuses from operating funds, and government oversight agencies had a bit of power over corporations.

[Po_d Mainiac]

37. In '71' the construction outfit I worked for

caught the bid to lay the discharge pipe for the now mothballed "Maine Yankee" reactor. That was a 42in drain with enough pressure to push water out, 25ft underwater...Those zip-locks under the Chinooks, pale in comparison...

http://news.yahoo.com/s/ap/as_japan_earthquake;_ylt=AikEy2peblvwksk.BrGwiv6s0NUE;_ylu=X3oDMTNqNnJkdTlqBGFzc2V0A2FwLzIwMTEwMzE3L2FzX2phcGFuX2VhcnRocXVha2UEY2NvZGUDbW9zdHBvcHVsYXIEY3BvcwMxBHBvcwMyBHB0A2hvbWVfY29rZQRzZWMDeW5fdG9wX3N0b3J5BHNsawNqYXBhbmVzZWNob3A-

...2k gals/baggie load.. that's 4 loaded baggies to equal 1 OTR Poland Spring tanker trailer..Hopium at it's finest.

I wunner what would have happened if someone had opened a door and let the water out of the generator building, before firing those puppies up?

[Hotler]

27. k&r n/t

[cbdo2007]

32. Things looking good so far.

[TalkingDog]

33. and completely off topic... but the market is up and I'm feeling giddy with relief

I figured out the mystery of the SMW no show.... When I would scan the page and not find it, I would use "Find". Well, somehow I the term "Match Case" was checked. So while stock wouldn't get hits, if I had typed in Stock it would've been no problem.

Just a case of RTFM

[xchrom]

35. Dividends Will Enrich Bank Chiefs

http://www.nytimes.com/2011/03/17/business/17dividend.html?ref=business

Even as ordinary investors look forward to the prospect of larger dividend payouts by the big banks, another group is poised for a rich payday: bank chief executives. In the next few days, the Federal Reserve is expected to give a handful of institutions, including JPMorgan Chase and Capital One, permission to pay higher dividends, another sign of the remarkable comeback of banks since the depths of the financial crisis.



Jamie Dimon, chief executive of JPMorgan Chase, stands to eventually reap nearly $6 million a year in dividend payments from the stock he owns, an amount that equals almost a third of his total pay in 2010. Capital One’s chief executive, Richard D. Fairbank, could earn nearly $3 million a year as the credit card giant weighs a similar move

[Po_d Mainiac]

38. I just threw up in my mouth

[amandabeech]

40. Does anyone else here have that terrible feeling that the nation and the world are just spinning

out of control? At least at this moment?

I put out the green clothes, but I just can't get into the spirit.

Anyone else.

[Fuddnik]

41. It will be spinning much faster in a couple of hours.

:beer: :toast: :beer: :toast: :beer:

But, you're right. Everything seems to be crumbling, or exploding at a rapid pace for the worst. And everyone is whistling past the grave yard, trying to ignore it. Most everyone, anyway, except for our little island of sanity in SMW.

[Demeter]

43. Sane? Or Merely Malcontent?

I've never felt less sane in a long time.

[amandabeech]

48. Have fun, Fuddnik.

Lift one for me, will you? I'm just not up to it this time around.

[Demeter]

42. Ever since since Nixon

with a few months off for Ford, Carter and Clinton.

[amandabeech]

46. Well, besides that.

Glad you're feeling sane.

Somebody has to.

[Po_d Mainiac]

44. yup

There is a lot of shit going on.

All of a sudden there seems to be a blackout from the region around the 38th Parallel (East of the DMZ normally referred to at those co-ordinates). Hundreds of thousands may be getting a greeting card from the Grim Reaper ahead of schedule. Thousands already have. The US west coast is downwind of 1-4 molten piles of N waste, and about the only region along the ring of fire not to have taken a lurch northward an the last few months.

There is about to be a third front opened up in Northern Africa..Quelling unrest in Libya=Bad..Quelling unrest in Bahrain=Good

The U$D just got trashed (again)

We (USA) could be on the verge of misguided civil unrest, as the sheeple allow the PTB to fuel class warfare

and list runs on, and on
scary times indeed...KYPD
:hug:

[amandabeech]

47. Are you getting ready to duck and cover, or what?

I agree with you on the assorted fault lines running up and down the U.S. and Canadian west coast.

There will be a readjustment. Thank heavens I live in the East at the moment.

[Po_d Mainiac]

50. Getting ready?.... nope

Prairie doggin? Yup

[amandabeech]

51. As in tunneling? n/t

[Po_d Mainiac]

55. Too much frost and granite ledge in the ground for tunneling.

We're able to get by quite well off-grid, if need be.

[Robbien]

45. Good news stories are scarce. Almost non-existent

Yeah I agree with you, its been a real bummer for a long while now.

[DemReadingDU]

49. Reminds me of the juggler spinning plates on those long poles

and he goes from one plate to another to keep them all spinning at the same time. Then one plate crashes, followed quickly by all the remaining plates.

Just transfer that analogy to Japan, the tsunami, the nuclear reactors, the housing industry, people unemployed and using food stamps to eat, Middle East revolutions, the corrupt banks, the global financial Ponzi. Yeh, sooner or later, one of these 'plates' will collapse and then followed by the collapse of the rest.
:scared:

[amandabeech]

52. Meanwhile the Pres goes off to Rio.

That means Joe's in charge, and, frankly, that makes me feel a little better.

Maybe he can get everyone out of Afghanistan while the Prez is hitting the beach.

That would be a start.

[ozone_man]

53. Great analogy.

It amazes me always how they do it, whether it's Bernanke, Geithner, the MSM, TPTB, Obama, ... How they keep all those plates going, still spinning.

I'm still betting that they drop the plates, eventually. On that note, happy St. Patrick's Day! :beer: