STOCK MARKET WATCH, Friday, March 25, 2011

[Pale Blue Dot]

Source: du

STOCK MARKET WATCH, Friday, March 25, 2011

AT THE CLOSING BELL ON March 24, 2011

Dow 12,170.56 +84.54 (+0.69%)
Nasdaq 2,736.42 +38.12 (+1.39%)
S&P 500 1,309.66 +12.12 (+0.93%)
10-Yr Bond... 3.39 -0.01 (-0.38%)
30-Year Bond 4.46 -0.03 (-0.58%)

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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. Today's Reports

Mar 25 08:30 GDP - Third Estimate Q4 2.9% 2.9% 2.8%
Mar 25 08:30 GDP Deflator - Third Estimate Q4 0.4% 0.4% 0.4%
Mar 25 09:55 Michigan Sentiment - Final Mar 69.0 68.0 68.2

Read more: http://www.briefing.com/Investor/Public/Calendars/EconomicCalendar.htm#ixzz1HbjJE5mB

[Pale Blue Dot]

2. Oil below $106 amid unrest, strong demand

SINGAPORE – Oil prices hovered below $106 a barrel Friday in Asia as political upheaval in the Middle East and signs of strong global demand keep crude near two-year highs.

Benchmark crude for May delivery was up 10 cents to $105.70 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 15 cents to settle at $105.60 on Thursday.

In London, Brent crude was up 26 cents at $115.86 a barrel on the ICE futures exchange.

Crude prices have jumped 25 percent since protests against Libyan leader Moammar Gadhafi that began in mid-February escalated into a rebellion and shut down most of the OPEC nation's 1.6 million barrels per day of crude output. Fighter jets from a coalition of nations have pounded Gadhafi's forces this week but rebels have so far been unable to mount an offensive to overthrow the regime.

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

[Pale Blue Dot]

3. European Stocks Rise, Led by Technology Shares; U.S. Futures Also Climb

European stocks rose, sending the Stoxx Europe 600 Index heading for its best weekly performance since September. Asian shares and U.S. futures also gained.

SAP AG (SAP), the world’s largest maker of business-management software, climbed after better-than-expected forecasts from Oracle Corp. (ORCL) and Accenture Plc. (ACN) Randgold Resources Ltd. (RRS), a producer of the metal in West Africa, advanced 1.3 percent as gold increased. Electricite de France SA declined 1 percent.

The Stoxx Europe 600 Index rose 0.4 percent to 276.79 at 10:05 a.m. in London. The index, which tumbled the most in eight months last week on fears that Japan’s March 11 earthquake would lead to a nuclear meltdown, has rebounded 3.4 percent this week.

Companies in the Stoxx 600 are trading at about 13.5 times earnings, near the lowest since 2009, according to data compiled by Bloomerg.

http://www.bloomberg.com/news/2011-03-25/european-u-s-stock-index-futures-climb-stoxx-600-heads-for-weekly-gain.html

[xchrom]

4. Recommend

[Po_d Mainiac]

5. Texas Scorched by Worst Drought in 50 Years

Crop and Livestock Losses Reach $3.6 Billion, and Tourism Industry Takes a Hit; Meteorologists Predict Relief in the Fall

Texas is the nation's top producer of cattle and cotton and a leading provider of other crops. But many other areas of the U.S. have received normal or above-average rainfall this year, mitigating the potential for more widespread economic fallout as abundant crops elsewhere make up for losses in Texas.

http://online.wsj.com/article/SB124872939604384837.html

[xchrom]

6. what with the prices of food these days -- and what they will be --

it would be interesting if there was a site devoted to stressed ecosystems and the food they produce.

[Po_d Mainiac]

23. That would be depressing...n/t

[Demeter]

12. then maybe the cotton subsidy that distorts the world market

can be eliminated....

[Fuddnik]

29. Do you want the price of cotton candy to soar?

[AnneD]

39. "Only if...

you are caught out in the rain," she said as she hummed McArthur Park quietly to herself. :evilgrin:

[Fuddnik]

40. There's always cotton candy flavored vodka.

I heard they made it special for nurses.

[AnneD]

48. Niche marketing....

at its finest. Maybe I can find some to bring to the pool party you are having after you finish re landscaping. The children must wreck havoc on the filters.

[Warpy]

63. It's been dry here, too, not much snowpack in the mountains

to send downriver to our farmers and theirs. La Nina is a bitch.

It's already an interesting fire season, red flag warnings up every other day.

[Demeter]

64. the water table is so high here

we are having flooding at the foundations.

Fix the roofs and the water finds some other place to leak in....

[Warpy]

74. Water always wins

even when you're in the desert and the problem is that you're not seeing any water that should have been falling for months.

[xchrom]

7. Oracle, RIM, tech stocks in focus as futures rise Oracle up on strong earnings; outlook weighs on Re

http://www.marketwatch.com/story/technology-stocks-in-focus-as-futures-rise-2011-03-25?dist=beforebell

LONDON (MarketWatch) — U.S. stock futures rose on Friday, with technology stocks in the spotlight after a mixed set of results from Oracle Corp. and Research In Motion Ltd.

Futures for the Dow Jones Industrial Average /quotes/comstock/21b!f:dj\m11 (DJM11 12,162, +46.00, +0.38%) rose 46 points to 12,162 and Standard & Poor’s 500 index futures /quotes/comstock/21m!f:sp\m11 (SPM11 1,310, +4.60, +0.35%) added 5.30 points to 1,310.50.

[xchrom]

8. Housing is dead; it can’t hurt the economy

http://www.marketwatch.com/story/housing-is-dead-it-cant-hurt-the-economy-2011-03-24?link=home_carousel

WASHINGTON (MarketWatch) – Housing is dead. There is no doubt about that. Housing is as dead as a door nail.

Someday, the housing market will live again. Carpenters, plumbers, painters and electricians will build houses again, which will be sold to young families who want to own a part of the American dream. However, that someday is still years away.

Some people will tell you that housing isn’t quite dead, that it’s a zombie that has the power to destroy the economy yet again. For example, here’s what economist Beth Ann Bovino of Standard & Poor’s says about the big drop in new-home sales in February: “If we see this extended into basically the spring season, then we’re going to see a real hit to the economy.” Read “Dismal home-sales data tell us nothing new.”

[Demeter]

11. As long as there are mortgages (and no jobs), Housing is a Zombie

With infinite ability to inflict pain on the economy and the people.

Like that little riff on Dickens' Christmas Carol.

That article was written very tongue in cheek. He reported what Goldman said, but I don't think he really believed it...

[xchrom]

14. housing has taken on dickensian proportions -- and you're right

i didn't think he really believed it.

[Tansy_Gold]

31. the labor market has also taken on dickensian proprotions

what with the attempts to repeal child labor laws, stripping workers of collective bargaining rights, relieving employers of responsibility to provide safe and healthy working conditions, etc., etc., etc.



TG

[Fuddnik]

22. Had to go back and re-read the whole thing.

No matter who’s right, further price declines would squeeze middle-class families hard.

But unfortunately, the financial health of middle-class families hardly matters any more. If this recession has proven anything, it’s that corporate profits don’t depend on spending by the poor or the working class. If the middle class mattered, we’d be doing something about the 20 million people who can’t find the job they need and something about the foreclosure epidemic
--------------------------------------------------------------------------------

If we mattered...........

[bread_and_roses]

46. got that right

"they" look to the rising tides in India and China - don't need us anymore - witness this Administration's total lack of action for or interest in our unemployed

[Fuddnik]

49. Thats the most disgusting thing about it.

Mother Jones has another good article on how this came to be. The Fed changed it's focus from full employment (translated, loser than 4%) to zero inflation, which was more business friendly. The author doesn't point out that they lie about the inflation numbers to boot.
------------------------------------------------------------

http://motherjones.com/kevin-drum/2011/03/screwed-fed

Who Screwed the Middle Class?

— By Kevin Drum
| Fri Mar. 25, 2011 3:00 AM PDT

I've written several times before about Winner-Take-All Politics, in which Jacob Hacker and Paul Pierson argue that middle-class wage stagnation and growing income inequality are due as much to political decisions over the past 30 years as they are to broad economic trends. I find their arguments persuasive, but there's no question that it's a tough case to make. After all, exactly which political decisions are we talking about? Can we point to specific pieces of legislation or specific agency decisions that have retarded wage growth? In fact, we can—things like tax policy, financial deregulation, the decline of antitrust enforcement, and anti-union rulings by the NLRB all played a role. By themselves, though, these just aren't enough to account for what's happened. So what's the smoking gun when it comes to the impact of politics on wage stagnation and growing income inequality?

I think Lane Kenworthy fingered the right culprit a few weeks ago: the abandonment in recent decades of full employment as even a rhetorical goal of American economic policy:

The post–World War II experiences of the rich democracies suggest three routes to rising working- and middle-class wages. One is an environment in which firms face only moderate competition in product markets and limited pressure from shareholders, allowing them to pass on a significant share of growth to their employees. This characterized the period from the late 1940s through the mid 1970s, but it’s now long gone. The second is strong unions. I see little hope of that in America’s future. The third is full employment.

But full employment is only possible if the Federal Reserve is committed to it, and this is decidedly no longer the case: "Since the late 1970s, independent central banks such as the Fed almost always have prioritized low inflation, rendering low unemployment difficult to achieve. If the Fed isn’t on board, even a workable plan for full employment supported by the American public and our elected officials probably won’t be enough."

(snip)
----------------------------------------------------------------
Link from article

http://lanekenworthy.net/2011/01/26/can-we-get-to-below-4-unemployment-do-we-need-to/

Consider the Evidence

Lane Kenworthy

*




« Is America finished with major expansions of the safety net?
The safety net in the short run and the long run »
Can we get to below-4% unemployment? Do we need to?
January 26, 2011

Robert Pollin has a piece in Boston Review arguing for a return to full employment in the United States. The following is my comment, cross-posted from the Boston Review forum.

I share Robert Pollin’s view that the U.S. should strive for full employment — by which I mean, following his lead, an unemployment rate below 4%.

Can we do it? Pollin points to two historical precedents as grounds for optimism. The first is Sweden from 1960 to 1989. Sweden succeeded in keeping unemployment below 4% throughout those three decades by coupling employment-oriented monetary and fiscal policy with wage restraint. But Sweden’s central bank at that time was subordinate to the government. Ours, the Federal Reserve, is independent. Since the late 1970s, independent central banks such as the Fed almost always have prioritized low inflation, rendering low unemployment difficult to achieve. If the Fed isn’t on board, even a workable plan for full employment supported by the American public and our elected officials probably won’t be enough.

What about Pollin’s second precedent, the United States in the late 1990s? During those years the Fed, under Alan Greenspan, did keep interest rates low enough for the unemployment rate to drop below 4%. But Greenspan held rates low despite opposition from other Fed board members, who were concerned about potential inflationary consequences — particularly given the internet-driven stock market bubble. Greenspan took this stance in part because his belief in the self-correcting nature of markets led him to worry less than others about the bubble. In light of the painful consequences of the 2000s real estate bubble, I doubt we’ll see the Fed take that approach again for some time.

(snip)

[xchrom]

9. EU summit leaves loose ends in debt crisis

http://www.marketwatch.com/story/eu-summit-leaves-loose-ends-in-debt-crisis-2011-03-25

LONDON (MarketWatch) — European leaders won’t cement a deal to comprehensively address the euro-zone debt crisis as they wrap up a once highly-touted summit on Friday, with negotiations undercut by domestic political considerations in Finland and Germany, economists said.

Portugal looked unlikely to formally seek a bailout, while Ireland’s quest for easier terms on its rescue loans has been delayed until the completion of Irish bank stress tests next week. Read 'Ireland tax battle adds layer to euro debt crisis.'

Leaders of the 27 nations that make up the European Union on Thursday night agreed to a small change regarding the funding of the European Stability Mechanism, the bailout fund that will replace the current European Financial Stability Facility in 2013.

[xchrom]

10. Indian stocks surge, adding to weekly gains

http://www.marketwatch.com/story/indian-stocks-surge-adding-to-weekly-gains-2011-03-25

MUMBAI (MarketWatch) -- Indian stocks surged on Friday, adding to a strong weekly performance, receiving a lift from a recovery in Japan's Nikkei Average and as investors cheered the introduction of reforms to tax and banking laws. The Sensex /quotes/comstock/29m!sensex (XX:SENSEX 18,816, +464.90, +2.53%) jumped 464.90 points, or 2.5%, to end at 18,815.64 on Friday. For the week, the Sensex rose 5.2%. Friday's gains were led by DLF Ltd. /quotes/comstock/29m!e:dlf.eq (IN:532868 248.60, +14.45, +6.17%) , up 6.2%; Infosys Technologies Ltd. /quotes/comstock/29m!e:infosystch.eq (IN:500209 3,162, +157.10, +5.23%) /quotes/comstock/15*!infy/quotes/nls/infy (INFY 69.80, +1.55, +2.27%) , up 5.2%; and NTPC Ltd. /quotes/comstock/29m!e:ntpc.eq (IN:532555 182.25, +6.70, +3.82%) , up 3.8%. The S&P/CNX Nifty index /quotes/comstock/29m!nifty (XX:NIFTY 5,654, +131.85, +2.39%) rose 2.4% to 5,654.25 Friday and also gained 5.2% for the week.

[Demeter]

13. New York Fed’s Dahlgren Overhauls Bank Supervision to Beef Up Oversight

http://www.bloomberg.com/news/2011-03-21/new-york-fed-s-dahlgren-overhauls-bank-supervision-to-beef-up-oversight.html

The Federal Reserve Bank of New York, which oversees some of the largest U.S. financial firms, has reorganized its bank supervision group to strengthen its oversight capabilities.

The division has been renamed the Financial Institution Supervision Group, in a nod to the Fed’s expanded authority under the Dodd-Frank Act, according to the New York Fed’s website. The Dodd-Frank Act, signed into law by President Barack Obama in July, gave the Fed authority for overseeing non-bank financial firms deemed “too big to fail” because their collapse might pose a risk to the financial system.

“Some of this is about changing a mindset internally, as well as reflecting externally that we have a broader mandate now under Dodd-Frank,” Sarah Dahlgren, who became head of the group on Jan. 1, told Bloomberg News on March 18 when asked about the changes. “We’re going to have to increase resources.”

The New York Fed oversees firms including JPMorgan Chase & Co. (JPM) and Goldman Sachs Group Inc. (GS), both of New York, and is slated to gain responsibility for non-bank companies in its district such as Fairfield, Connecticut-based General Electric Co. (GE)’s GE Capital unit. Keith Sherin, GE’s chief financial officer, said on a Jan. 21 earnings call that the Fed would become GE Capital’s regulator “sometime in the first half of this year.”

[Po_d Mainiac]

15. What Is Change Worth?

Lincoln Copper Cent Price-1909-1982 Cent (95% copper)-$0.0291648

Jefferson Nickel Price-1946-2011 Nickel-$0.0703939

90% Silver dimes, quarters, and halves 26.88 times face value

Note: There are multiple issues of 90% silver that have been issued since 1964. (Proofs, commemoratives, etc) These coins are seldom circulated, and full weight (no wear)

[hamerfan]

19. Where to take them?

If someone had coins that had no numismatic value?

[Po_d Mainiac]

26. Either on-line auctions

Or selling directly to a bullion smelter will bring the highest results.

IMHO...Take a jar of Vaseline, a tube of KY, or tube of chassis lube (and a trowel) along, if selling to most jewelers, pawn shops or road shows.

[ret5hd]

38. reputable coin dealers are good also.

i regularly buy at $.40/oz over spot and sell at $.50/oz under spot.

[Po_d Mainiac]

50. But they are a rare breed...reputable dealers, that is

My test is to take a handful of coins into a shop, drop them on the counter and ask for a price. One coin will be a "semi-key" ringer. Of the eleven times I've done this, only once did a dealer point out that one of the coins had more of a value than scrap.

One clown even started to get the shakes. They all made second offers, but by that time I was heading for the exit.

So yes do business with a reputable shop, but if my experience is any indication, good luck finding one.

[ret5hd]

60. i don't have to worry about that...one 1oz round is the same as any other 1oz round...

and 1 10 oz bar is the same as any other 10 oz bar.

[Po_d Mainiac]

70. unless it's a 1996 ASE...n/t

[ret5hd]

73. no ase's, these kind of rounds:

[AnneD]

37. I have some that have no ....

numismatic value. I keep them to use in the event of a dollar dive. If fiat money is worthless-the silver coins will be worth something in horse trading. This country is not use to that but I think when I go overseas I may take a few with me to see what I can get. It is better than dealing with silver ingots which can be heavy and cumbersome. Besides they make a nicer sound than the newer coins. Thanks for the update PM. I am not in the market for more coins yet but they are nice to have.

[happyslug]

65. It is illegal to melt down US Coins....

That has been Federal Law since the 1970s, but if such coins would accidentally be melted down, then you can sell them with other copper items as copper.

Nickels are a little more complicated for the 5% nickel content in a Nickel (Which gives the Nickel its "silver" color AND that slight greasy feel), has to be removed and sold separately. A Nickel is 95% copper, but the copper is wroth less then 5 Cents. The Main value item is the nickel. There is no way you can say you melted down Nickels accidentally and then separated the copper from the nickel AND for anyone to believe you.

My advice, just keep the Cents and Nickels as Cents and Nickels. Sooner or later it will be legal to sell them for the value of the copper and nickel in them. Until that time not worth the effort to melt them down given the Criminal Charges you face if you do.

The US Treasury will NOT prosecute you for melting down any Silver Coins, but the Treasury has said it will prosecute anyone who melts Cents or Nickels.

[Demeter]

16. Advanced-Nation Debt Risks Future Fiscal Crisis, Lipsky Says

http://www.businessweek.com/news/2011-03-20/advanced-nation-debt-risks-future-fiscal-crisis-lipsky-says.html


The mounting debt burden of the world’s most developed nations, set for a post-World War II record this year, is unsustainable and risks a future fiscal crisis, the International Monetary Fund’s John Lipsky said.

The average public debt ratio of advanced countries will exceed 100 percent of their gross domestic product this year for the first time since the war, Lipsky, the IMF’s first deputy managing director, said in a speech at a forum in Beijing today.

“The fiscal fallout of the recent crisis must be addressed before it begins to impede the recovery and create new risks,” said Lipsky. “The central challenge is to avert a potential future fiscal crisis, while at the same time creating jobs and supporting social cohesion.”

Lipsky’s view clashes with Nobel laureate Joseph Stiglitz, who told the same forum yesterday that further fiscal stimulus is needed to aid growth, and that European nations focused on austerity have a “fairly pessimistic” outlook. At stake is sustaining the developed world’s rebound without a deepening in the debt crisis that’s engulfed nations from Greece to Ireland....

THAT INCREASE IN DEBT ISN'T NATIONAL--IT'S THE BANKSTERS--AND THEY SHOULD BE GIVEN BACK THAT DEBT SO THEY CAN DROWN IN IT.

[Demeter]

17. Fed had record 2010 profit, Treasury got the bulk

http://www.reuters.com/article/2011/03/22/us-usa-fed-profits-idUSTRE72L6D320110322

The Federal Reserve earned a record $81.7 billion in 2010, largely on investments made to help the economy and banks weather the 2007-2009 financial crisis, and turned the bulk of it over to the U.S. Treasury.

According to audited financial statements, the U.S. central bank transferred $79.3 billion to Treasury's coffers last year, up from $47.4 billion in 2009 and a record turnover for a second straight year. The figure for the total turned over to Treasury was slightly larger than the Fed had reported in January when it said it had remitted $78.4 billion. The latest figure was based on additional data, Fed officials said on Tuesday when they issued statements for all 12 Fed regional banks and some of the entities established during the financial crisis.

The Fed said that at year-end, the value of assets in its Maiden Lane investment vehicle -- taken on to help rescue Bear Stearns in 2008 -- had declined slightly to $27.96 billion from $28.14 billion at the end of 2009. This was due largely to payoffs of underlying mortgages, according to Fed officials.

Values of loans to vehicles created to rescue American International Group (AIG.N), Maiden Lane II and III, rose slightly, to a combined total of about $40 billion. These loans are still held by the Fed despite the transfer of equity interests to the Treasury in January....The Fed said that at the end of 2010 it had total assets of $2.43 trillion, up $193 billion from a year earlier. It said its balance sheet's makeup was changing, and that holdings of U.S. Treasury securities were up $261 billion while its holdings of federal agency and government-sponsored enterprise mortgage-backed securities had climbed by $86 billion.

[Demeter]

18. Fed Profit Rose Sharply To $82 Billion Last Year

http://www.nytimes.com/2011/03/23/business/economy/23fed.html?_r=1&adxnnl=1&adxnnlx=1300887652-zfhnx0ZYYoiFEspdC+49WA

The Fed transferred roughly $25 billion a year in the decade before the crisis.

“It’s interest that the Treasury didn’t have to pay the Chinese,” Federal Reserve Chairman Ben S. Bernanke told Congress in January.

The extraordinary results reflect the unique business model of a central bank. The Fed pays for its investments by creating new money, with the result that the return on those investments, after expenses, is pure profit.

The Fed has greatly expanded the scale of its investments since 2008 as it sought to rescue the banking industry and spur growth, roughly tripling the size of its balance sheet from about $800 billion at the end of 2007.

The financial statements show that the Fed earned about $3.5 billion last year from the Maiden Lane subsidiaries it created to buy assets from the investment bank Bear Stearns and the insurance company American International Group. The Fed also made $45 billion from its portfolio of roughly $1 trillion in mortgage-backed securities, amassed to keep mortgage loans cheap and available. And it made $26 billion from its holdings of $1.1 trillion in government debt. That part of the portfolio has continued to expand in 2011, as the Fed pursues a plan to purchase $600 billion in Treasury bonds to hasten recovery.

[Demeter]

20. IMF Plan Sees Role for Fund in Crises

http://online.wsj.com/article/SB10001424052748704461304576217052683271710.html?mod=dist_smartbrief

The International Monetary Fund is working on a proposal to become a more significant lender of dollars, euros and other hard currencies during times of crisis, essentially sharing the role of global lender of last resort with the U.S. Federal Reserve.

Under the plan, which has been encouraged by the U.S. and other members of the Group of 20 nations, the IMF would provide short-term foreign-exchange swaps to central banks in developing nations as a way to handle financial shocks that leave those nations short of hard currencies. That would reduce political pressure on central banks to provide swap lines to countries that could be controversial domestically, and could also help convince borrowers that they don't need to accumulate huge reserves of foreign currencies to protect themselves during times of trouble.

France, which chairs the Group of 20 nations this year, has made the IMF plan a priority. The U.S. Federal Reserve also backs the idea, but wants to make sure the IMF sets tough standards for the swap lines and provides them for emerging nations, not advanced economies. The Fed is wary of the amount of new resources the IMF would need to backstop rich nations.

The U.S. and Europe have been concerned that foreign-exchange reserves can help countries like China manipulate their currencies to keep them undervalued. But it's far from clear that China and other countries would substantially reduce their reserves because they would then have to trust the IMF sufficiently to provide them with emergency cash...

THIS IS A MUST-READ FOR THE SHEER CHICANERY OF IT ALL.

[xchrom]

21. Not out of the woods

http://www.atimes.com/atimes/Asian_Economy/MC26Dk01.html

MONTREAL - All Asian stock markets were up strongly this week. With but one exception, every index reviewed here was looking to finish the week up at least 2.4%. Overall volatility receded to overall normal levels or slightly below. Correlation between volatility and percentage advance was slightly but significantly higher when exchanges were aggregated by dominant function rather than by geographic region.

The best performers were those with strong banking centers, viz Hong Kong and Singapore. The Hang Seng Index was one of the three best performers for three out of the five days this week. As of the midday break, it was up 3.7% to 23,127 from last Friday's close. This puts the index in immediate position to challenge next week a long-term resistance interval extending from that point up


to the high 23,400s. In order to get there, it will have to conquer the current levels of its 50-day and 200-day moving averages, which are converging around 23,400 itself. Short-term technical indicators, however, are mainly neutral if not nondescript; those that are not, are steadily slightly negative and/or moving slowly in the direction of reversing to neutral/positive.

[xchrom]

24. China's salt frenzy leaves aftertaste

http://www.atimes.com/atimes/China/MC23Ad01.html

HONG KONG - China last week was hit by a nationwide salt-buying frenzy prompted by Internet rumors that the seasoning could ward off radiation spread by the earthquake-stricken Fukushima Daiichi nuclear plant in Japan. While the incident proved short-lived, largely due to prompt government action, there are important lessons to be drawn for Beijing.

Table salt is a very unlikely consumer product to face panic buying in China, the world's number-one producer with annual output of more than 80 million tonnes. With domestic


consumption accounting for just 10% of this figure, the question of how a shortage could be so easily sparked deserves serious attention from both the public and the government.

[Demeter]

25. And in local weather

It's all of 20F with windchill of 13F and that is an improvement...when oh when is winter going to end? At least three more nights in single digits.

And barely getting up to freezing during the day for another 4.

[burf]

30. About the same here

Got about 10" of snow a couple days ago. Hopefully it'll start warming up after next week.

But on a lighter side, went out ot the barn yesterday morning and one of the heifers had her calf. At the time it was about 0F. She was cleaning him off and a few hours later he was up and nursing. The spent the night outside laying in some bedding and were up and at 'em early this morn. He's already get along quite well. The calf did brighten up things here. Now if Spring would finally show up things would be even better.

[Tansy_Gold]

34. And here it's a chilly 46 at 6:30 a.m.

High predicted in low 70s. Lotsa sunshine.

Aloes are blooming already, but not profusely as we didn't have a lot of rain this winter. Lady Banks roses are a just a few days away from full bloom. Varieties of prickly pear cactus (polka dot, Santa Rita, cow's-tongue, Engelmann, and bunny ears) are sprouting flower buds and new pads. Baja fairy dusters have revived from the cold and are starting to bloom. Bougainvilleas took a serious hit during the cold spell but are coming back from the roots. Mexican bird of paradise -- four red/orange, one yellow -- are coming back strong.

Quail are fat and plentiful but no babies in sight yet. There's a Great Horned Owl somewhere; I hear it hooting at night and early morning.

Those who say the desert has no seasons have never lived here.



TG

[Fuddnik]

32. Boring here. Low to mid 80s. Around 62 at night.

Getting pool and lanai remodeled.

[xchrom]

33. that looks so nice.

post pics when you get it done, please.

[Fuddnik]

67. Four hours later-coping in

Now the pavers go down, and they're done.

[xchrom]

78. I'm very impressed - I love projects like this.

Are you doing the work?

[Hotler]

27. k&r Thanks everybody for SMW. n/t

[Fuddnik]

28. Know thine enemy. Koch, Walmart, Amway, Blackwater et al.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=103x594460

[DemReadingDU]

35. March 25, 2011

Today is the 100th anniversary of the Triangle Shirtwaist fire.

I found this in the political videos forum
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=385x566526

[Tansy_Gold]

36. Every time I think of this, I also think of all my "friends" who

happily shop at Walmart and Chico's and brag about the bargains and never think twice about the young girls in Vietnam or Honduras or China or Bangladesh or Turkey or Guatemala who slave 12 hours a day to make those bargains.

One "friend" blithely bragged the other day that she has three closets full of clothes in her Arizona snowbird home -- no telling how much she has in her home back home -- and never wears them but figures she has the closet space so she better fill it up.

Another "friend" has never been seen wearing the same shoes twice.



Tansy Gold, who sometimes does not know where to go with her anger

[DemReadingDU]

41. Most of my family and friends

They like to shop for the bargains too. Yet none have a clue the poor people, and working conditions, who made all that stuff they purchased so cheaply at Wal-mart (edited)

I can remember growing up that when we discovered some trinket was made in China, it meant cheap.

[Fuddnik]

45. My wife does all the shopping, and she abhors paying retail for anything.

She hits all of the thrift stores. She can find a $200 pair of shoes for me, in new condition for $6-7. I needed new jeans last week, and she wouldn't let me go to the store, she brought me home 3 pairs, in new condition for $10 total.

[DemReadingDU]

53. That's some serious bargain hunting

I occasionally get bargains like that at thrift stores too. But most everything was likely made in a foreign country.

[xchrom]

54. brooks brothers has teamed up with levis to make made in america jeans

http://www.levistrauss.com/news/press-releases/levis-brand-and-brooks-brothers-collaborate-exclusive-collection-jeans-made-usa

The Levi's® Brand and Brooks Brothers Collaborate on an Exclusive Collection of Jeans Made in the USA

SAN FRANCISCO, CA (July 29, 2010) – Today two renowned American apparel icons, the Levi’s® brand and Brooks Brothers, announce the launch of a new collection of jeanswear for men, Levi’s® Jeans, Made in the USA for Brooks Brothers. Available at Brooks Brothers stores nationwide, online at www.brooksbrothers.com and in Brooks Brothers catalogs beginning July 29, the collection is the latest in an ongoing series of special collaborations for both brands and re-affirms a shared commitment to products that are “made in America”.

“From presidents to pop artists, pioneers with a distinctly American optimism have been devoted to the purpose and timelessness of Brooks Brothers and Levi’s® products,” offers Carl Chiara, director of Men’s and Women’s Brand Concepts and Special Projects for the Levi’s® Brand, The Americas. “Levi’s® jeans and Brooks Brothers suits have been staples of American menswear through world wars and civil wars, booms and busts, and the continued transformation and redefinition of the American frontier; It may have taken us over 135 years, but we are finally joining forces and are excited to be doing something together!”

http://www.brooksbrothers.com/IWCatProductPage.process?Merchant_Id=1&Section_Id=413&Parent_id=220&Product_Id=1470351&default_color=Dark-tumble

Made in the USA: this original, authentically American button-fly 501® is straight through the seat, thigh and leg with a waistband that pitches toward the front. Original fit that sits at the waist with a 11 1/4" rise, straight leg and 17 1/4" leg opening. The hand-treated and washed finish means a super-soft and comfortable pair of jeans. This special 501 jean is part of a carefully crafted assortment of classic styles in a range of finishes made by Levi's exclusively for Brooks Brothers. Pure cotton. Machine wash.


my disclaimer: i am a serious fashionista. i love quality clothes.
i spend good money on my clothes -- and where they are made and how they are made are important to me.
i buy made in america selvedge denim -- don't know about the new levis -- but i'd be interested.

[DemReadingDU]

58. Levi's / Brooks Brothers jeans are a match made in L.A.

8/2/10 Levi's / Brooks Brothers jeans are a match made in L.A.

Two of the most storied brands in the American male wardrobe -- Brooks Brothers and Levi Strauss -- were rolling out a five-pocket denim collaboration. The three different fits and six washes -- based on Levi's familiar 501 (button-fly), 505 (zip-fly) and 514 (a.k.a. the Slim Straight) styles -- went on sale July 29 at Brooks' website and select retail locations (including the Rodeo Drive flagship store), for $148 (more than double the price of regular Levi's, but comparable to other five-pocket jeans sold through Brooks' website).

more...
http://latimesblogs.latimes.com/alltherage/2010/08/levi-strauss-and-brooks-brothers-collaborate-on-made-in-los-angeles-jeans.html

3 styles for men, don't see ladies sizes
http://www.brooksbrothers.com/IWCatSectionView.process?IWAction=Load&Merchant_Id=1&Section_Id=1108

[xchrom]

61. i haven't seen any selvedge jeans for women.

some body will -- i don't know if it's been done yet.

i buy raleigh denim -- and they're made in raleigh.

i have something of a retro fetish.

[Pale Blue Dot]

42. Texas budget could cost 600,000 jobs

NEW YORK (CNNMoney) -- Texas could see more than 600,000 jobs disappear if lawmakers adopt the $83.8 billion budget that will go before the state House late next week, according to a state agency.

Harsh spending cuts in the budget could cost more than 263,500 private sector jobs and 343,000 government positions over the next two years, according to estimates released Wednesday by the Legislative Budget Board, a bipartisan committee.

This projection, which is based on mathematical calculations, runs counter to the pro-job push underway by Gov. Rick Perry and Republican lawmakers.

The budget slashes spending by nearly $23 billion, or 12.3%. The drop reflects the loss of federal stimulus money, but it also includes a $4.5 billion cut in state spending. Education, social service agencies and public health providers would see major funding decreases.

http://money.cnn.com/2011/03/24/news/economy/texas_budget_jobs/index.htm

[AnneD]

57. Most folks here realize....

everyone will take a hair cut with the budget, but some areas are getting circumcisions. Texas is mandated by the Constitution of our State to provide an education. A court challenge may be in the works.

We have to balance the budget, meaning revenues and expenditures have to be equal. We have a rainy day fund that Gov Goodhair did not want to tap into, but we have had enough marches in Austin to make him and the legislators take notice. That will help some, but they will have to increase revenue, no way around that one.

People remember Perry giving Strayhorn and White grief when they said we would have a budget shortfall because of his tax cuts. Well here we are now. Thank goodness the Gov has so little power in this state.

About yours truly...my job as a school Nurse may be on the block. But understand this: I have 14 asthmatics, 2 students with gel for seizures, 3 diabetics- 2 requiring insulin-1 with mixed lantus and humalog, 1 with a liver transplant, 1 with head and neck cancer, and 3 on daily meds. Two of my diabetics and my liver transplant enrolled this month (I suspect from charter schools). At this point-getting rid of a school Nurse borders on negligence. We are like the blow out preventers on the Deep Water Horizon. Yes, that 1/2 million for the blow out preventer looked expensive when they were first drilling, but how cheap does it look now.

If I am RIFed so be it, but as sure as I am typing this one child maybe more will die for lack of adequate medical care and the district will be subject to a horrible lawsuit.

[54anickel]

43. OK, I've been out of it for most of the year again. So I'm having a WTF moment here...

Atlas Shrugged is being released as a movie next month? And in a positive light? Someone help me here as I'm still suffering from SAD, OCD and just all around depression. All my energy is being consumed by the fight here in Fitzwalkerstan. Can someone, anyone here offer me just a glimmer of hope?

Sorry for barging in on the SMW, but this was my home for so long here on DU....the names have changed, but hopefully the spirit remains.

[Fuddnik]

44. Try post #40 above.

[Viva_La_Revolution]

55. Welcome back!

You've been missed by some of us ol'timers. :hug:

[54anickel]

77. Thanks Viva! It's been a long time. I doubt I'll be able to keep up with the SMW though.

Things are moving so fast and my mind has slowed to a crawl. Concentrating on the local front for now as I think that's where I can do the most good. Besides, I don't see TPTB loosing their ability to continue to prop the markets anytime soon. They want the illusion of resilence to remain until Ryan is able to funnel our Social Security payments into the pot. So for the time being, what goes down, must come back up.

:hi: :hug:

[Demeter]

66. Hope?

Only if you take the long view. In the long run, all the fuckers will die, disappointed, and without their hoards and power.

The immediate future looks pretty grim, actually.

The only hope we have is that the catastrophes keep piling up faster and faster so that the whole house of cards collapses, never to rise again. Even better if it takes all the Obscenely Wealthy Abusers of Power with it.

My personal hope is that all the diligent SMW/WEE crowd survive, and if they get into difficulties, shout loud and often for help. And get it.

[Pale Blue Dot]

47. Slapping Team Obama: Several Democratic AGs to Withdraw from Proposed Mortgage Fraud Settlement

The so-called mortgage settlement looks to be coming apart at the seams. That does not mean there will not be a deal of some sort. Remember, a hallmark of the Obama administration is to do things simply to have more “achievements” to discuss. But not only, as has been rumored for some time, are a number of Republican attorneys general saying they will not join in the settlement, so are some Democrats as well.

It’s important to recognize that Democratic withdrawals are a far bigger problem for Obama than the Republicans. Given that a number of AGs signed up at the last minute, and some of the Republicans were not even on board with the concept of a mortgage settlement, defections among the GOP participants can be depicted as partisanship. By contrast, repudiation by Democrats, particularly Democrats that have garnered some attention in the national press by taking mortgage abuses seriously, is much harder for the Administration to explain away. And as David Dayen at Firedoglake reports, if enough AGs defect, the settlement becomes a dead letter:

The master settlement agreement with the tobacco industry in 1998 eventually got the agreement of 46 AGs, with the other four coming aboard later. That would be similar to the necessary outcome here; to become the official position of the National Association of Attorneys General, at least 38-41 of the AGs would have to sign on. And even that has no binding force to supersede state law.

As we anticipated, the AGs are unhappy about how the negotiations have been conducted (they have been kept in the dark and are now being railroaded) and the failure to have any serious investigations. Per Dayen, they are also concerned, as we are, that the banks will be given a broad release:

http://www.nakedcapitalism.com/2011/03/repudiation-to-team-obama-several-democratic-ags-to-withdraw-from-proposed-mortgage-fraud-settlement.html

[Po_d Mainiac]

51. The $20bil rip-off should bury Miller n/t

[Fuddnik]

52. No investigations, no penalties.

And smoke and mirrors settlement that benefits the banks.

Then right back to business as usual, and foreclosure madness.

I hope they all withdraw.

[xchrom]

62. good. nt

[Demeter]

68. Why should the AGs Expect Different Treatment Than the Rest of Us?

"Kept in the dark and being railroaded"

that about describes it. Since Nixon, at least.

[Festivito]

56. Debt: 03/23/2011 14,224,998,096,211.71 (DOWN 8,561,187,480.69) (Wed, DOWN a little.)

(Good day.)
Eating helps post this afternoon.
(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)
= 9,605,524,165,923.99 + 4,619,473,930,287.72
DOWN 63,255,741.95 + DOWN 8,497,931,738.74

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 $3,208.92 makes 1T$.
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 311,631,392 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 $45,646.87.
A family of three owes $136,940.61. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 21 reports in the last 30 to 28 days.
The average for the last 21 reports is 4,739,781,900.20.
The average for the last 30 days would be 3,317,847,330.14.
The average for the last 28 days would be 3,554,836,425.15.
There were 252 reports in 365 days of FY2007 averaging 1.99B$ per report, 1.37B$/day.
There were 253 reports in 366 days of FY2008 averaging 4.02B$ per report, 2.78B$/day.
There were 75 reports in 112 days of GWB's part of FY2009 averaging 8.03B$ per report, 5.38B$/day.
There were 174 reports in 253 days of Obama's part of FY2009 averaging 7.33B$ per report, 5.07B$/day so far.
There were 249 reports in 365 days of FY2009 averaging 7.57B$ per report, 5.16B$/day.
There were 251 reports in 365 days of FY2010 averaging 6.58B$ per report, 4.53B$/day.
There were 120 reports in 174 days of FY2011 averaging 5.53B$ per report, 3.81B$/day.
Above line should be okay

PROJECTION:
There are 669 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)
03/23/2011 14,224,998,096,211.71 BHO (UP 3,598,121,047,298.63 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 +0,663,375,065,320.00 ------------* * * * * * * * * * * * * * * * BHO
Endof11 +1,391,562,637,021.84 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
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 ------------*********
03/17/2011 -014,916,428,437.31 -
03/18/2011 +000,616,236,061.23 ------------********
03/21/2011 -000,100,873,734.64 --- Mon
03/22/2011 +000,366,066,174.28 ------------********
03/23/2011 -000,063,255,741.95 ----

42,915,394,144.61 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=4785327&mesg_id=4785601

[Festivito]

82. Debt: 03/24/2011 14,210,071,848,853.10 (DOWN 14,926,247,358.61) (Thu, DOWN a lot.)

(Good day.)
Where did a bra come from?
(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)
= 9,589,761,022,374.59 + 4,620,310,826,478.51
DOWN 15,763,143,549.40 + UP 836,896,190.79

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 $3,208.85 makes 1T$.
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 311,638,592 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 $45,597.92.
A family of three owes $136,793.76. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 21 reports in the last 30 to 28 days.
The average for the last 21 reports is 4,298,286,992.08.
The average for the last 30 days would be 3,008,800,894.46.
The average for the last 28 days would be 3,223,715,244.06.
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$/day.
There were 121 reports in 175 days of FY2011 averaging 5.36B$ per report, 3.71B$/day.
Above line should be okay

PROJECTION:
There are 668 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)
03/24/2011 14,210,071,848,853.10 BHO (UP 3,583,194,799,940.02 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 +0,648,448,817,961.40 ------------* * * * * * * * * * * * * * * * BHO
Endof11 +1,352,478,963,176.64 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
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 ------------*********
03/17/2011 -014,916,428,437.31 -
03/18/2011 +000,616,236,061.23 ------------********
03/21/2011 -000,100,873,734.64 --- Mon
03/22/2011 +000,366,066,174.28 ------------********
03/23/2011 -000,063,255,741.95 ----
03/24/2011 -015,763,143,549.40 -

18,751,394,786.27 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=4786812&mesg_id=4787152

[Robbien]

59. Japanese people don't believe water is safe so a politician goes on TV and drinks a glass

In Tokyo supermarket shelves remained stripped of bottled water on Friday even though radiation levels had returned to within safe limits and the city's governor was shown on television drinking tap water at a municipal purification plant.

http://www.telegraph.co.uk/news/worldnews/asia/japan/8406408/Japan-crisis-nuclear-workers-exposed-to-10000-times-more-radiation-than-normal.html



Why do politicos think a stunt such as this will keep people believing in the smoke screen?

[Demeter]

69. Why should they believe it was tap water?

[Demeter]

71. My horoscope for today could apply to a lot of TPTB:

"Your efforts to prevent everything from falling apart may be futile today because your life grows more complex each time you succeed. It's similar to playing a video game; you are given a harder level to solve once you successfully finish your current level. It may be the right time for an entirely new strategy. Don't waste all your resources on maintaining control; just stop playing for a while. Giving up your authority may be the easiest thing you'll ever do."


The stars have an inflated view of my skill and power....

[Roland99]

72. See y'all in April

I'm going to go bury my head in the sand for a week. (literally...haha)


much-needed and much-anticipated vacation!

[Fuddnik]

75. Sand or snow?

[Roland99]

81. Mexican sand!

:)

[hamerfan]

76. "Bury my head in the sand for a week"

That sounds like the best thing (for me as well) that I've heard in a long time! Enjoy it for all of us.

[Capn Sunshine]

79. And Since this is the Stock Market Thread, a post about the Stock Market :

At The close

DOW 12220.59 up 50.03 +0.41%
NASDAQ 2743.06 up 6.64 +0.24%
S&P 500 1313.80 up 4.14 +0.32%

My personal view: It was a day for Day Traders; if you were quick on the draw and had no stops and big stones the action was tradable as there was a big (ok, not huge big , but big enough to trade) spike during the day that pulled back at the end. One thing that we noticed this week was some consolidation and a touch of panic among the commodities options traders as margins were sharply curtailed, so a lot of guys thought this was good time to take profits before they got that call especially in the silver pits. We saw simultaneous technical action at the mid week which gave us an opportunity to short silver so we took it in the May and July contracts. Now the only question is to take a modest profitor hold on for a kill. As far as the equities, Nothing even remotely appeared as a major breadth thrust this week, and no sessions had any follow-through plus the houses are complaining about lack of volume again so this rally is very thin ice we're on. Speaking of the big houses, they are undergoing their seasonal rotation designed to gin up some commissions and make it look like they are doing their job, so they seem to be lightening up on the financial stocks and buying tech(!). I KNOW! WTF , right? Except poor RIMM which just got whacked as some large sell orders hit consecutively and precipitated a run. Seems the street didn't think much of their rosy bs outlook guidance, so at minimum they need a new guidance writer. The problem with playing in commodities is that you have to watch the overnights and weekends because the price is subject to volatile action that could trigger your stops due to a global concern cropping up. Frankly I can't see how ANYTHING else bad could happen, but the second you say THAT, you are just asking for it. Hasta La Vista , Market watch.

This concludes actual market commentary about the Stock Market, which used to be the point of this thread. Much love to Ozy.

[Demeter]

80. Implied Criticism noted

However, you must admit that with the PPT interventions every time it drops below 12K, the fun and the point of it all has become moot.

[Capn Sunshine]

83. ah, the PPT

boy those guys are everywhere. Except they got out of tower seven just in time.
Robert Prechter said it best:
"When markets go up, the Fed seems to be in control; when they go down, it seems out of control. But the control aspect is an illusion."

If there actually was such a thing, they sure did a piss poor job September-October 2008, didn't they.