STOCK MARKET WATCH, Wednesday, April 6, 2011

[Demeter]

Source: DU

AT THE CLOSING BELL ON APRIL 5, 2011

Dow 12,393.90 -6.13 -0.05%
Nasdaq 2,791.19 +2.00 +0.07%
S&P 500 1,332.63 -0.24 -0.02%
10-Yr Bond... 3.49 0.00 0.00%
30-Year Bond 4.51 +0.00 +0.02%

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Market Conditions During Trading Hours

Euro, Yen, Loonie, Silver and Gold

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Handy Links - Market Data and News: Economic Calendar Marketwatch Data Bloomberg Economic News Yahoo! Finance Google Finance Bank
Tracker> Credit Union Tracker Daily Job Cuts

Handy Links - Economic Blogs:

The Big Picture Financial Sense Calculated Risk Naked Capitalism Credit Writedowns
Brad DeLong Bonddad Atrios goldmansachs666 The Stand-Up Economist

Handy Links - Government Issues:
LegitGov Open Government Earmark Database USA spending.gov

Handy Links - Videos:The Coming Collapse of the Middle Class Charlie Rose talks with Roubini Charlie
Rose talks with Krugman William Black: This Economic Disaster Bill Moyers with Kevin Drum and David Corn[/div>

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.

No link yet.

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DEMETER SUBBING FOR PALE BLUE DOT

[Demeter]

1. YESTERDAY'S AND TODAY'S CALENDAR

Date ET Release For Actual Briefing.com Consensus Prior Revised From

Apr 06 07:00 MBA Mortgage Index 04/01 -7.5%
Apr 06 10:30 Crude Inventories 04/02 2.945M

Apr 07 08:30 Initial Claims 04/02 400K 386K 388K
Apr 07 08:30 Continuing Claim03/26 3700K 3700K 3714K
Apr 07 15:00 Consumer Credit Feb $2.0B $2.5B $5.0B

Read more: http://www.briefing.com/Investor/Public/Calendars/EconomicCalendar.htm#ixzz1IjtClg9O

[xchrom]

2. recommend -- is PBD ok? i hope so. nt

[Demeter]

4. Other than the Flu and Computer Problems

PBD is alive and free and not extraordinarily-renditioned or in Gitmo. He hopes to rejoin us tomorrow.

[xchrom]

6. flu. blech. glad to hear he isn't in gitmo.

give him our best.

[DemReadingDU]

39. Thanks for subbing!

Hope PBD feels better soon.

[xchrom]

3. U.S. futures point higher; gold hits record

http://www.marketwatch.com/story/us-futures-point-higher-gold-hits-record-2011-04-06?dist=beforebell
LONDON (MarketWatch) — U.S. stock market futures pointed slightly higher Wednesday ahead of the latest results from Monsanto Co. and as gold rallied to a new high.

Futures on the Dow Jones Industrial Average /quotes/comstock/21b!f:dj\m11 (DJM11 12,380, +53.00, +0.43%) rose 40 points to 12,367 and Standard & Poor’s 500 index futures /quotes/comstock/21m!f:sp\m11 (SPM11 1,335, +8.60, +0.65%) were up 5.50 points at 1,332.20.

Nasdaq 100 futures /quotes/comstock/21m!f:nd\m11 (NDM11 2,344, +20.75, +0.89%) rose 11.75 points to 2,335.

U.S. blue-chip stocks ended the day slightly lower on Tuesday, with the Dow Jones Industrial Average dropping around 6 points after the index hit its highest closing level in nearly three years on Monday.

[Po_d Mainiac]

37. Monsanto Sued By Organic Farmers

Monsanto's incredibly overaggressive use of patents to corner the market on certain crops and to bully farmers has been well-documented over the years. Some of the really crazy stories involve Monsanto accusing farmers of patent infringement, because some of its "patented" seeds were used by neighboring farms, and the newly grown seeds were blown onto the neighboring property by wind, where they grew new plants. Now, a group of organic farmers fearful of being hit with similar threats and/or lawsuits have preemptively sued Monsanto asking for a declaratory judgment that they don't infringe, while also seeking to invalidate the patents.

http://www.techdirt.com/articles/20110330/04055413695/monsanto-sued-organic-farmers-who-dont-want-to-be-accused-patent-infringement.shtml?op=sharethis

one can hope that the courts finally get this right

[Demeter]

43. My Hope Was Stolen By a Flim-Flam Artist

Ronald Reagan's heir.

[Demeter]

45. need to reboot

[Viva_La_Revolution]

77. +1!!

Monsanto needs to go down.

that's a great site, thanks for the link

[tclambert]

83. Silver is up 29% since January.

[xchrom]

5. Stocks higher in Europe as banks pare losses

http://www.marketwatch.com/story/cautious-start-for-europe-miners-up-banks-off-2011-04-06?dist=beforebell


MADRID (MarketWatch) — European stock markets pushed higher in afternoon trading on Wednesday, with banks recovering ground after Portugal managed a successful bond auction and Marks & Spencer Group PLC inspired retailers.

The Stoxx Europe 600 index /quotes/comstock/22c!sxxp (ST:STOXX600 282.00, +1.09, +0.39%) rose 0.1% to 281.33, but was held back by French utilities such as Electricite de France SA /quotes/comstock/24s!e:edf (FR:EDF 27.31, -1.14, -4.01%) , down 4% after the government said Tuesday it would freeze natural-gas prices.

[Po_d Mainiac]

47. Successful auction huh?

A couple sites (not under the thumbs of big business) are stating the bills were bought by Portugal's Social Security system. Hmm, dun't sound so good now.

Take the sovereign factors (Like the FED) out of the bond markets, and we would maybe get an honest accounting of future interest rates.
:grr:

[Ghost Dog]

48. Indeed.

'Optimism continues to rule even though there are still ... clear and present dangers. Portugal needs to find some financing fast,' said Philippe Gijsels, analyst at BNP Paribas Fortis Global Markets.

'The market will continue to be well supported as long as the U.S. Federal Reserve continues to put liquidity into the system. Only when the Fed stops printing will we be able to see the real strength of the economy and markets. And then markets may be disappointed.'

PORTUGAL

Analysts were expecting Portugal to manage to sell its six- and 12-month T-bills, albeit at a higher cost than previously. Local banks have threatened to stop buying government bonds unless the country seeks a foreign loan soon and the tender will test lenders' appetite to support shorter-term state borrowing.

'Given the fact that it's bills, it might go OK, but it is an interesting test for the periphery,' one trader said.

/... http://www.finanznachrichten.de/nachrichten-2011-04/19858501-global-markets-euro-at-high-ahead-of-rate-hike-stocks-buoyant-020.htm

--
HONG KONG, April 6 (Reuters) - U.S. government debt prices slipped in Asia on Wednesday, adding to Tuesday's losses, after minutes of the Federal Reserve's March policy meeting showed as expected varying views over when the Fed should start unwinding its ultra-loose monetary policy.

...

* The minutes of the Federal Open Market Committee meeting last month acknowledged the surge in oil and food prices, but most members of the rate-setting body thought inflationary risk from commodity spike would be temporary.

* Overall, the FOMC minutes signaled simmering tension between most FOMC members who reckon the economy still needs policy accommodation, and a vocal minority, which warns that keeping a super-easy policy much longer is creating inflation risk, analysts said.

* 'This statement highlights to us the ongoing debate within the committee about the relative balance of risks to the outlook and the appropriate stance of monetary policy,' Barclays Capital economist Michael Gapen wrote in a note.

/... http://www.finanznachrichten.de/nachrichten-2011-04/19858769-treasuries-u-s-bonds-slip-as-fed-minutes-show-varying-views-020.htm

[Po_d Mainiac]

60. Exactly! The CB's can't have it both ways.

Keeping rates low (by printing paper) is driving up the cost of everyday essentials, while propping equity markets. Stop the presses and let the market set prices, and bond yields will soar as the equity and commodity markets tumble with the bond prices.

The 200kilo primate, sitting in the corner and pounding his Johnson, is about to make a big mess on the floor. Wonder how long that (the mess) will be ignored?

[Demeter]

88. Usually Hits the Fan in October

With Boner pulling the shutdown, it may start sooner--unless they think that shutdown will stop deficits....the GOP is clinically insane.

[Demeter]

51. Central Banks Grapple With Competing Forces (GOOD COP-BAD COP SCENARIO)

http://online.wsj.com/article/SB10001424052748703712504576245031446096202.html?mod=dist_smartbrief

The European Central Bank and the U.S. Federal Reserve, facing similar challenges of fragile economic recoveries and surging commodity prices, are charting different courses.

The ECB, preparing for a policy meeting Thursday, is poised to become the first central bank among the world's large, developed economies to raise interest rates since the world fell into deep recession in 2008.

The Federal Reserve is carrying on its easy monetary policies, keeping short-term interest rates near zero and pumping extra money into the economy by buying government bonds. An increasingly intense debate has broken out within the U.S. central bank about when to raise interest rates. A vocal minority of officials is discussing the possibility of raising rates later this year to tamp down inflation, but the Fed's leadership and a majority of officials look disinclined to move anytime soon.

The central banks' divergent policies will have enormous effects on economic growth, inflation and financial markets. The stakes are high for both banks. If the ECB is wrong in moving rates higher now, it could choke off economic growth in the euro zone. If the Fed is erring on the side of easy money, it could let U.S. inflation take off, damaging the domestic economy...


AND THE TWO OF THEM WORKING OPPOSITE ENDS OF THE STREET? WHY DO WE HAVE TO BE THE TEST SUBJECTS FOR THIS MENGELEAN SCHEME?

[Demeter]

7. Oil hovers above $108 amid mixed US supply report

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

Oil prices hovered above $108 a barrel Wednesday in Asia after a U.S. crude supply report showed mixed signals about demand.

Benchmark crude for May delivery was up 20 cents at $108.54 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 13 cents to settle at $108.34 on Tuesday.

In London, Brent crude for May delivery was up 19 cents at $122.08 a barrel on the ICE Futures exchange.

The American Petroleum Institute said late Tuesday that crude inventories fell 2.8 million barrels last week, suggesting stronger demand. Analysts surveyed by Platts, the energy information arm of McGraw-Hill Cos., had forecast an increase of 1.3 million barrels.

However, inventories of gasoline rose unexpectedly by 568,000 barrels and crude supplies at the key U.S. storage facility in Cushing, Oklahoma rose 120,000 barrels, the API said...The Energy Department's Energy Information Administration reports its weekly supply data later Wednesday.

[xchrom]

8. Japan grand-coalition talk belies rifts

http://www.marketwatch.com/story/in-japan-grand-coalition-talk-belies-rifts-2011-04-06

TOKYO (MarketWatch) — In the wake of last month’s disasters in Japan, and as a nuclear crisis here drags on, there have been a few promising signs of political compromise, but so far very little to give investors hope.

Cooperation is still such a novel concept to Japanese policy makers that the major debate appears to center on what form it might take and not so much on the issues themselves yet.

Remember the days when the biggest crisis facing Japan was its failure to address its massive fiscal deficit? That problem remains, but everything changed on the afternoon of March 11, with the magnitude 9 earthquake and tsunami that left nearly 28,000 people dead or missing.

[xchrom]

9. Asian shares higher; gold mining plays rally

http://www.marketwatch.com/story/asian-shares-higher-gold-mining-plays-rally-2011-04-06

MUMBAI (MarketWatch) — Asian stock markets were mostly higher Wednesday, as investors took a rate hike from China’s central bank in stride, while gold plays around the region gained as the metal’s price touched a record.

Japan’s Nikkei Stock Average /quotes/comstock/64e!i:ni225 (JP:NI225 9,584, -31.18, -0.32%) ended down 0.3% at 9,584.37.

Australia’s S&P/ASX 200 /quotes/comstock/27w!i:xjo (AU:XJO 4,913, +12.78, +0.26%) rose 0.3% to end at 4,913.2 and South Korea’s Kospi Composite fell 0.2% to 2,126.71.

Hong Kong’s Hang Seng Index /quotes/comstock/08s!i:hsi (HK:HANGSENG 24,285, +134.47, +0.56%) added 0.6% to 24,285.05 and China’s Shanghai Composite /quotes/comstock/16k!i:000001 (CN:SHCOMP 3,001, +33.95, +1.14%) tacked on 1.1% to 3,001.36.

[xchrom]

10. Marks & Spencer, other retailers boost FTSE 100

http://www.marketwatch.com/story/marks-spencer-other-retailers-boost-ftse-100-2011-04-06

LONDON (MarketWatch) — The U.K.’s benchmark stock index rose early Wednesday, led by the retail sector after a well-received trading update from Marks & Spencer Group PLC.

The FTSE 100 index /quotes/comstock/23i!i:ukx (UK:UKX 6,047, +39.87, +0.66%) gained 21.45 points, or 0.4%, to 6,028.51 in morning trading. It slipped 0.2% on Tuesday.

The top gainer in the FTSE 100 on Wednesday was Marks & Spencer /quotes/comstock/23s!a:mks (UK:MKS 359.20, +19.00, +5.59%) , whose shares rallied 4.4%.

[Demeter]

11. JAPAN WATCH

I'm going to try to corral all the posts on the ongoing FUBAR under this thread.

[Demeter]

12. Tepco seals leak at nuclear plant

Japanese nuclear technicians have stopped the outflow of highly radioactive water into the Pacific Ocean from the crippled Fukushima nuclear power plant.

After trying and failing several times to stem the leak since it was discovered on Saturday, Tokyo Electric Power engineers succeeded early on Wednesday morning by injecting sodium silicate, or liquid glass, into the ground near a seaside “pit” from which the highly contaminated water had been seeping.

Tepco said it pumped 6,000 litres of sodium silicate – a chemical more often used as a wood preservative and an adhesive in car
engines – and a hardening agent into the ground near the pit, where the water was leaking from a 20cm crack. It had earlier tried to plug the leak with absorbent polymer, sawdust, newspapers and concrete.

The company cautioned that some contaminated water may still be reaching the sea from other smaller leaks, and said it was investigating.

Read more >>
http://link.ft.com/r/S4XZQQ/QFE5IB/EKRAI/BMOPOX/183T0N/50/t?a1=2011&a2=4&a3=5

[xchrom]

14. a cautious Bravo. nt

[xchrom]

44. Japan nuclear crisis is here to stay

http://www.atimes.com/atimes/Japan/MD07Dh01.html

Almost a month after the deadly earthquake and tsunami that triggered the worst nuclear crisis in the world since Chernobyl in 1986, one struggles to find good news coming out of Japan. Even reports of cheerful cooperation between Israeli and Iranian rescue teams in the afflicted areas <1> ring bitter as the island country is forced to dump into the Pacific ocean large amounts of radioactive water and to apologize to its neighbors citing dire emergency. An ecological disaster looms.

The meltdown of the cores of reactors one, two and three at the Fukushima nuclear power plant appears to be have been halted for now, but officials are not out of the woods yet. "It would take a few months until we finally get things under control and have a better idea about the future," said Japanese nuclear safety


agency spokesman Hidehiko Nishiyama, quoted by The Associated Press on Sunday. Among other concerns, the emergency use of large amounts of sea water to cool the melting cores at the plant, 240 kilometers north of Tokyo, may have caused large salt deposits on them that could raise the temperatures again.

[tclambert]

84. Well how long did it take to clean up Chernobyl?

Oh, still a mess over there. Town abandoned for 25 years. Radiation levels still high. So, we'll still talk about Fukushima in 2026.

[Demeter]

89. And 2126, if there are any humans left on planet

that are capable of speech.

[tclambert]

94. The Cylons will have taken over by then.

[xchrom]

13. Online 'do not track' bill introduced in California Senate

http://www.latimes.com/business/la-fi-do-not-track-20110406,0,590866.story

California is putting itself in position to lead the fight for increased online privacy by trying to pass the country's first so-called do-not-track law to keep personal data from being grabbed off the Internet.

Legislation by state Sen. Alan Lowenthal (D-Long Beach) would create a mechanism to allow users of smartphones, tablets, computers and any other device that accesses the Internet to tell website operators they don't want their online habits monitored.

As California did with do-not-call efforts to block telemarketers, he said, the state should be out front in blocking online tracking. "We will lead and provide stimulus to the rest of the nation," Lowenthal said. "It's much more difficult to get something like this through Washington."

Momentum is growing for do-not-track legislation, either as a stand-alone protection for consumers or part of more comprehensive privacy reform, privacy experts say. California's bill signals that the final push might come from the states, not the federal government.

[Demeter]

15. China raises rates to tackle inflation

China on Tuesday raised interest rates for the fourth time in five months as the government struggles to reduce bank lending, rein in inflation and slow economic growth to a more sustainable pace.

The central bank said the benchmark one-year lending and deposit interest rates would be increased by 25 basis points from Wednesday. The move would bring the deposit rate to 3.25 per cent and the lending rate to 6.31 per cent.

Analysts said the rise came earlier than many had anticipated and suggested that March inflation data, which is scheduled for release early next week, would probably be higher than expected.

Read more >>
http://link.ft.com/r/WDI4RR/5CBN9L/HI3M9/TPQMP7/RNY9I0/CM/t?a1=2011&a2=4&a3=5

[xchrom]

16. Rubber cultivation in South America booms as prices soar

http://www.latimes.com/business/la-fi-colombia-rubber-20110406,0,5426855.story

Reporting from Puerto Lopez, Colombia—
As Walter Lopez carefully stripped a diagonal ribbon of bark from a rubber tree in eastern Colombia, white latex began dripping down the cut and into a miniature pail nailed to the trunk.

"Being outdoors, you learn how to respect the trees," said Lopez, a longtime rubber tapper at the Mavalle plantation on the Llanos jungle flatlands, 150 miles east of the capital, Bogota. "This is a great way of life."

Until recently, few shared it in Colombia, where pests and poor soil were thought to make rubber plantations unfeasible. Southeast Asia is the source of 94% of the world's rubber supply. The success of the 1,200-acre Mavalle operation was considered an anomaly. Colombia accounted for only a tiny fraction of the 11 million tons of rubber harvested worldwide last year.

But the doubling of rubber prices since 2007 to about $2.25 per pound, along with advances in soil management, are once again spurring interest in the cultivation of rubber in South America. Giant agribusinesses as well as small entrepreneurs are planting thousands of acres in this sparsely populated region, hoping to cash in.

[xchrom]

17. Nasdaq 100 rebalancing will decrease Apple's weight, boost Microsoft's

http://latimesblogs.latimes.com/technology/2011/04/apple-to-see-decrease-in-weight-on-nasdaq-100-microsoft-to-get-a-boost.html

Apple's influence on the Nasdaq 100 will soon see a decline as Nasdaq OMX announced it was going to rebalance the weight of the companies listed on the index.

The Cupertino iPad maker currently accounts for more than 20% of the Nasdaq 100, a listing of the 100 largest nonfinancial stocks that trade on the Nasdaq. After the rebalancing goes into effect, Apple will account for 12% of the Nasdaq 100, according to a report from the Wall Street Journal.

[xchrom]

18. Has the Federal Government Already Shut Down?

http://blogs.hbr.org/hbsfaculty/2011/04/has-the-federal-government-alr.html

Democrats and Republicans are working feverishly to negotiate a compromise that would avoid a government shutdown — at least until the debt ceiling next needs to be raised again.

The irony is, the shutdown that everyone fears may have already happened several years ago, when the U.S. government stopped addressing the big issues we face. To wit:

* It cut taxes twice during the early 2000s at the same time the country decided to fight two major wars. This, along with the prescription drug benefit, embedded deficits for decades to come.
* It put sensible government regulation on the back burner. Credit default swaps, for example, were allowed to reach $ 70 trillion in notional amount without any regulator being clearly accountable for oversight.

[AnneD]

79. If you are poor or lower middle class

and receive few if any government services is this really a crisis? Just curious.

[xchrom]

82. i don't remember what happened the last time.

so -- what ever happened then -- i'm expecting more of the same.

i don't think it's going to be good.

[AnneD]

87. I remember it clearly....

gov employees had their checks withheld. Landlords were unhappy as were utilities, car dealerships, city tax offices, clubs, bistros, etc. The more it continued, the worse it got. When the budget finally passed...they had to pay extra to the rank and file workers because they were adversely affected by that action. It was a noticable drop in business. Folks were pissed and put the blame on GOP. I don't know how it will play out this time because folks are mad at both sides.

[xchrom]

19. Sustainability's Faustian Dilemma

http://blogs.hbr.org/ashkenas/2011/04/sustainabilitys-faustian-dilem.html

We all remember the SunChips Episode of 2010. Frito-Lay introduced bio-degradable packaging for SunChips in March, and was surprised to see sales of the chips drop by 11% over the next six months. The reason: Consumers felt that the new bags were too noisy, prompting an onslaught of YouTube videos and Facebook groups bemoaning their high decibel levels. In October, Frito-Lay switched most of the SunChips brands back to quieter plastic packaging. Only last month — a year after the initial launch — did the company start reintroducing (very slowly) a new, quieter version of the biodegradable bag in some grocery stores.

In light of this "curious case of the cacophonous snack pack," I find that many people see sustainability as a version of a Faustian dilemma; they often knowingly make choices that have immediate personal benefits, but in the long run are disastrous for all of us. Their reasoning goes like this: "While I'd like to save the planet in the long-term, if it means that I have to give up my currently comfortable lifestyle in the short-term, I probably won't do it."

Lifestyle resistance to the wind energy industry — a clean alternative to fossil fuels — is another example of this dilemma. One New York Times article documents noise complaints from a number of communities across the U.S., Canada, Britain, and France. As one neighbor of a newly installed wind farm in Maine said, "...we are prisoners of sonic effluence." Other wind energy projects, such as the proposed turbines off the coast of Cape Cod and Hawaii, have been slowed or stopped by residents who do not want their view of the ocean disturbed.

[tclambert]

86. I don't understand that "view of the ocean" stuff.

Do they object to the Eiffel Tower disturbing their view of Paris? Do the carved faces on Mt. Rushmore interfere with the view of the Black Hills?

[Demeter]

90. The Purists Think So, No Doubt

Some people will complain, no matter what.

[Demeter]

20. Canberra to quash SGX takeover of ASX

The Australian government effectively killed off Singapore Exchange’s planned A$8.4bn ($8.7bn) takeover of its Australian counterpart after Wayne Swan, the country’s treasurer, said he was “disposed” to reject the deal as not in the national interest.

Although Mr Swan stressed on Tuesday that his view was preliminary, he startled the market by revealing his position before the end of a standard 30-day review period by the country’s foreign investment regulator.

A successful takeover would have created Asia’s second-largest exchange by number of listings, behind the Bombay Stock Exchange but ahead of exchanges in Tokyo and Hong Kong. It also comes as a wave of mergers and acquisitions sweeps through the securities industry, most recently Nasdaq OMX and Intercontinental Exchange’s $11.3bn offer last week for NYSE Euronext.

Read more >>
http://link.ft.com/r/VKY5JJ/NSDAKX/52KB7/0G3DS8/OJXIBG/6C/t?a1=2011&a2=4&a3=5

[xchrom]

22. i'm glad some countries have the nerve to resist deals like that. nt

[xchrom]

21. Leading Older Employees

http://blogs.hbr.org/glickman/2011/04/leading-older-employees.html

The litany of leaders who've founded and built their companies in their twenties and thirties is long and storied. It's hard to read much of anything in the news these days without Mark Zuckerberg, Biz Stone, or Andrew Mason weighing in. But more and more today, even the average young professional, the Millenial, is taking on increased responsibility at work, and managing and leading others far older than themselves.

Being a leader is tough enough when you look and sound the part, when you've got the war stories to prove you've toiled in the trenches and earned your way to the top. But leading without that authority, managing employees ten and twenty years older than you, receiving a mandate from the top but lacking the backing of the troops in the middle and at the bottom of the organization — that is a real challenge.

How does one lead without power? What do you do if you've got the title but not the experience? What if you've got the experience but your baby face betrays you? What do you do when your boss supports and respects you but you suspect your colleagues simply don't?

The challenge is not uncommon and it's not insurmountable. It takes just the right mix of thoughtfulness, tact and strategy on your part. When you're young and you're tasked with leading, the three most important things to keep in mind are as follows:

[Demeter]

23. Libyan rebels set for first oil exports

Libyan rebels are set for their first oil export as soon as Tuesday as they seek funding to sustain their uprising against Muammer Gaddafi’s 41-year rule of the north African nation.

Read more >>
http://link.ft.com/r/XYEWFF/PRIABE/4VXHZ/3O1I45/GK22CK/CM/t?a1=2011&a2=4&a3=4

[xchrom]

26. yay?!?! so the war can pay for it's self? nt

[Demeter]

31. So young to be so cynical

[Fuddnik]

54. BP already signed a contract with somebody not in charge?

[xchrom]

24. Capitalism for the Long Term

http://hbr.org/2011/03/capitalism-for-the-long-term/ar/1

The near meltdown of the financial system and the ensuing Great Recession have been, and will remain, the defining issue for the current generation of executives. Now that the worst seems to be behind us, it’s tempting to feel deep relief—and a strong desire to return to the comfort of business as usual. But that is simply not an option. In the past three years we’ve already seen a dramatic acceleration in the shifting balance of power between the developed West and the emerging East, a rise in populist politics and social stresses in a number of countries, and significant strains on global governance systems. As the fallout from the crisis continues, we’re likely to see increased geopolitical rivalries, new international security challenges, and rising tensions from trade, migration, and resource competition. For business leaders, however, the most consequential outcome of the crisis is the challenge to capitalism itself.

That challenge did not just arise in the wake of the Great Recession. Recall that trust in business hit historically low levels more than a decade ago. But the crisis and the surge in public antagonism it unleashed have exacerbated the friction between business and society. On top of anxiety about persistent problems such as rising income inequality, we now confront understandable anger over high unemployment, spiraling budget deficits, and a host of other issues. Governments feel pressure to reach ever deeper inside businesses to exert control and prevent another system-shattering event.

[Demeter]

32. The Worst Is Yet To Come

and those who are in denial will be moaning and groaning forthwith.

[DemReadingDU]

46. They are still living in Cloud Cuckoo Land

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

[Demeter]

25. Japan carmakers’ supply woes hit EU and US

Auto groups consider cutting shifts or shutting plants temporarily in Europe and North America

Read more >>
http://link.ft.com/r/VKY5JJ/FXZOSH/CWSVD/26UERE/3OUBNE/ZH/t?a1=2011&a2=4&a3=6

[Fuddnik]

65. Japan (and us) are really screwed worse than we know.

The radiation contamination is going to severely limit their exports and our imports. For example, take that cargo ship that China refused to unload last week. It can't even be sold for scrap or salvage now.

We used to weigh rail cars of scrap heading in to the steel mills to be melted. There was a radiation detector on the scale. If anything set it off, the car was switched out and sent back. If that scrap went through the process, it would have contaminated the blast furnaces, continuous caster, and strip mill, effectively destroying them.

They started checking scrap for radiation back in the '80s, when a science teacher brought a geiger counter to school to show his students. It started reading much higher than would be expected, and after investigation, some desks had been made from recycled scrap from the TVA plants.

Who knows how much fallout (pun intended) this is going to create for parts suppliers, computer board resins, and so on.

Then again, they could lie to us like they always do.

[Demeter]

27. Portugal in talks over EU aid

Portugal is holding talks with the EU on how to meet its immediate borrowing needs as its banks press Lisbon to seek a bridging loan until a new government can negotiate a bail-out deal

Read more >>
http://link.ft.com/r/CTBPCC/HDM08G/52KB7/0G3YSX/26PHFK/PJ/t?a1=2011&a2=4&a3=6

[xchrom]

28. Alan Greenspan Is Once Again Banging the Drum for Deregulation -- Is he Just Crazy?

http://www.alternet.org/economy/150491/alan_greenspan_is_once_again_banging_the_drum_for_deregulation_--_is_he_just_crazy

April 5, 2011 |


Some people never learn, and it seems that Alan Greenspan is one of them. The former Fed chair, who ignored repeated warnings of trouble in the subprime mortgage and derivatives markets and whose inaction played a key role in the crash of ’08, is now claiming that the reason the economic recovery is so weak is too much government action.

Is he kidding?

For a while, Greenspan seemed to have learned at least a little from the crisis, acknowledging that he’d put too much faith in the ability of financial markets to self-correct. But lately he’s retreated back into free-market fantasyland.

[Demeter]

33. That would be an affirmative

9 out of 10 economists agree.

[xchrom]

35. HA! good one. nt

[Fuddnik]

52. Didn't anyone tell that fool that April Fools Day was last week?

Is it possible to even believe that anymore after our deregulation catastrophe?

[Po_d Mainiac]

69. We haven't gotten rid of the last two litter of pups he's sired.

Now he wants to fuck the pouch some more?

[AnneD]

80. The final onset....

of Alzheimers (I am a Nurse, I know these things) :evilgrin: . Ms Mithchell needs to put a bib on him and wipe the strained peas off his chin. I don't know who checks his depends but I think he needs a change-it is starting to get ripe.

[tclambert]

91. Alan Greenspan. Worst. Economist. Ever.

I read his entry on Wikipedia and ended up just shaking my head. How can someone that badly wrong gain such power over the thing he's wrong about? Yet he was only number 3 on Time's list of top 25 people responsible for the economic meltdown. Angelo Mozilo (CEO of Countrywide Mortgage) and Phil Gramm (author of Gramm-Leach-Bliley Act, and John McCain's chief economic adviser) ranked higher on the blame list. Bill Clinton and George W. Bush ranked 13th and 14th. I think ranking Clinton ahead of Bush amounts to pandering to Republicans, trying to find some Democrat to put on the list, so it wouldn't be a Republican shutout. Clinton did allow some of the deregulation pushed by the Republicans who had majority control of Congress at the time. Bush, though, pushed for more deregulation all the time, and intentionally lessened efforts at enforcement of remaining regulations. I guess they figure he was just too stupid to know any better, whereas Clinton, the smart one, should have foreseen all the implications eight years earlier.

Greeenspan, though, supposedly understood the economy better than anyone. Yet his record, including the S&L deregulation scandal and the Social Security adjustments made in the 1980s, show him to have gotten it wrong again, and again, and again. He destroyed the life savings of millions.

However, he did make rich people richer. So I'm guessing Republicans love him.

[Demeter]

29. US banks lose risk-free profits to new levy

The Federal Deposit Insurance Corporation has begun levying a charge on funds borrowed by banks in the overnight money markets

Read more >>
http://link.ft.com/r/6NPSBB/9ZOPO9/A5Q0X/6VHSZ1/BM6O9D/PJ/t?a1=2011&a2=4&a3=5

[Demeter]

55. BUT WAIT! THERE'S MORE! New Fee Shakes Up a Lending Market

http://online.wsj.com/article/SB10001424052748703712504576242542837822736.html?mod=dist_smartbrief

The money market has been roiled by a sudden shortage of Treasury securities, another unintended consequence of government involvement in financial markets.

The disappearance of Treasurys in recent days has created a scramble among banks and investors, who depend on a fluid supply for short-term borrowing and lending. It is an unusual event, considering the market is generally awash in Treasurys, with about $9 trillion outstanding.

But recent rule changes mandated by the Dodd-Frank laws have made it too expensive for some banks to offer out their Treasurys holdings as part of a key overnight lending market known as the repurchase or "repo" market.

Banks typically borrow in this market, using Treasurys as collateral, parking the cash with the Federal Reserve and earning a better interest rate. Investors and money market funds use the market to lend out their cash overnight and earn a small return.

The lack of supply was so severe on Monday, and some investors so desperate for Treasurys, that they accepted negative yields—effectively paying to lend money to the banks. That is something that has rarely been seen since the financial crisis.

Exacerbating the problem, the Treasury has stopped selling some short-term Treasurys amid the debate in Washington over the government debt ceiling. At the same time, the Federal Reserve is suctioning up most of the new Treasurys that the government is selling, adding to the shortage of Treasury supply...

[xchrom]

30. Hedge Funders Have an Achilles Heel, Pray the Public Stays Ignorant About It

http://www.alternet.org/economy/150501/hedge_funders_have_an_achilles_heel%2C_pray_the_public_stays_ignorant_about_it

Hedge fund honchos bet on stocks. They bet on gold. They bet on lawsuits. Most of all, they bet that the rest of us will never wise up to the awesome giveaway our current tax code ladles on them.

Only in America can someone make $85 million in a year and feel underpaid.

This past Friday, USA Today’s annual corporate CEO pay survey — the first major national report so far this year on 2010 executive pay — revealed that Viacom chief Philippe Dauman earned $84.5 million last year.

But Friday also brought new numbers on annual “top 25” hedge fund manager compensation from AR magazine, the hedge fund industry’s trade journal. The hedge fund earnings needed in 2010 to make this exalted top 25: $210 million, well over double the four-score millions that went to Viacom's Dauman.

[xchrom]

34. Is a Real Resistance Movement to the Big Banks Finally on the Rise?

http://www.alternet.org/economy/150483/is_a_real_resistance_movement_to_the_big_banks_finally_on_the_rise

The phrase consent of the governed has been turned into a cruel joke. There is no way to vote against the interests of Goldman Sachs. Civil Disobedience is the only tool we have left.

We will not halt the laying off of teachers and other public employees, the slashing of unemployment benefits, the closing of public libraries, the reduction of student loans, the foreclosures, the gutting of public education and early childhood programs or the dismantling of basic social services such as heating assistance for the elderly until we start to carry out sustained acts of civil disobedience against the financial institutions responsible for our debacle. The banks and Wall Street, which have erected the corporate state to serve their interests at our expense, caused the financial crisis. The bankers and their lobbyists crafted tax havens that account for up to $1 trillion in tax revenue lost every decade. They rewrote tax laws so the nation’s most profitable corporations, including Bank of America, could avoid paying any federal taxes. They engaged in massive fraud and deception that wiped out an estimated $40 trillion in global wealth. The banks are the ones that should be made to pay for the financial collapse. Not us. And for this reason at 11 a.m. April 15 I will join protesters in Union Square in New York City in front of the Bank of America.

[Demeter]

36. Ex-BP chief in talks to set up fund

Tony Hayward, the former chief executive of the UK oil group, is in the early stages of setting up an investment fund focused on the energy sector

Read more >>
http://link.ft.com/r/6NPSBB/9ZOPO9/A5Q0X/6VHSZ1/26PU45/PJ/t?a1=2011&a2=4&a3=5

THIS ANNOUNCEMENT MAKES MY HEAD HURT

[Demeter]

38. Sweden tries to solve nuclear storage issue

As the crisis at Japan’s Fukushima Daiichi power plant unfolded last month, Sweden took a step to tackle the issue of permanent storage of nuclear waste

Read more >>
http://link.ft.com/r/KC2844/KEW0QS/9MEOW/UU9MTX/5CLTZO/6C/t?a1=2011&a2=4&a3=5

[Demeter]

40. IMF Reverses Position on Capital Controls (globalism is dying!)

http://online.wsj.com/article/SB10001424052748703712504576245004198979930.html?mod=dist_smartbrief

The International Monetary Fund, which for decades has been unwavering in its support of the free flow of capital, reversed itself and said developing countries can under some circumstances put up barriers to protect their economies.

The move on Tuesday comes as countries ranging from Brazil to South Korea to Turkey are limiting capital flows in an effort to control inflation, limit the rise in their own currencies or prevent bubbles in their stock and real-estate markets.

The IMF traditionally has advocated open markets for investment flows, as have banks, hedge funds and portfolio managers who want free movement of clients' money. However, ultralow interest rates in developed countries and high rates of return in developing nations have helped drive huge volumes of capital into some emerging economies.

IMF Managing Director Dominique Strauss-Kahn said the fund is taking a "very pragmatic" view of capital controls, the use of taxes, interest rates or other policy tools to curb flows of cash in and out of countries...

THE WHOLE POINT OF GLOBALISM WAS TO KILL THE NATION-STATES, SO THAT BANKSTER CORPORATIONS WOULD BE GODS. SOME OF THE NATIONS ARE FIGHTING BACK....BUT NOT OURS....NOT YET.

[Demeter]

41. THE IMF DOESN'T BELIEVE IN NATIONAL SOVEREIGNTY, APPARENTLY

...The IMF fund outlined a policy framework for advising economies on the best use of controls to stem surges in capital investments. The framework also lays the foundations for the Group of 20 industrial and developing nations as they devise a "code of conduct" on capital controls, a priority set by France, which leads the organization this year.

Some developing economies want the IMF's endorsement of their capital controls so they aren't penalized politically in the markets for adopting them.

"Many of the emerging markets feel they should be allowed to institute capital controls without being stigmatized for it," said Eswar Prasad, a senior fellow at the Brookings Institution and former head of the IMF's Financial Studies Division

The IMF doesn't levy penalties against countries with policies contrary to IMF guidance, but the stigma can be politically painful both domestically and internationally....

OH, YES, LET'S MEDDLE! LET'S CO-OPT THE STRONG LEADERS AND SMART HONEST ADVISORS WITH OUR CORPORATE-FRIENDLY "GUIDANCE"

[xchrom]

57. the IMF has a lot of fucking nerve --

'The IMF fund outlined a policy framework for advising economies on the best use of controls to stem surges in capital investments.'

their history of fucking up developing economies out shines their help and 'advice'.

they should shut up and disband.

[AnneD]

81. Alex Jones was right...

damn I hate it when that happens.

[Demeter]

58. Banking sector needs major surgery, IMF chief says

http://www.marketwatch.com/story/banking-sector-needs-major-surgery-imf-chief-says-2011-04-04

The world needs a procedure to shut down big financial institutions facing crisis, and banks should be taxed to prevent excess risk-taking, the head of the International Monetary Fund said Monday.

The financial sector “is still is need of major surgery,” IMF Managing Director Dominique Strauss-Kahn said at George Washington University. “We certainly need a resolution mechanism to end the scourge of ‘too important to fail.’”

[Po_d Mainiac]

64. Demeter has the perfect scalpel for the job :FRSP: n/t

[Fuddnik]

72. Like this one?

[Po_d Mainiac]

75. Ayuh

[xchrom]

42. from yesterday: Reuters: Gbagbo Has Surrendered in Ivory Coast

http://news.firedoglake.com/2011/04/05/reuters-gbagbo-has-surrendered-in-ivory-coast/

Reuters is reporting that, after months of struggle, Ivory Coast President Laurent Gbagbo has surrendered to the UN mission in Abidjan, and he has asked for their protection. However, that has not been confirmed by other news organizations.

In the past 24 hours, UN and French helicopters struck the Presidential residence as well as two military camps which contained the heavy arsenal for Gbagbo’s army. Forces loyal to Alassane Ouattara took advantage of the airstrikes to assault Abidjan, taking control of the residence. Gbagbo has been locked in an underground bunker, surrounded by pro-Ouattara troops.

[Demeter]

49. S.E.C. Weighs Trading Limits to Avert Extreme Volatility

http://www.nytimes.com/2011/04/06/business/06limit.html?_r=1

WASHINGTON — The Securities and Exchange Commission said on Tuesday that it would consider limits on the amount by which a stock’s price can move in any five-minute period, a fixture that would replace the single-stock circuit breakers installed after the so-called flash crash volatility on May 6, 2010.

The mechanism, known as a limit up-limit down rule, would apply to trades on national securities exchanges and would prevent shares from gyrating wildly outside a specified band of 5 or 10 percent of the recent price. It was proposed by the exchanges and the Financial Industry Regulatory Authority, the self-regulatory body known as Finra.

If trading is unable to occur within the price band for more than 15 seconds, a five-minute trading pause would be initiated on that specific stock, allowing market participants to find a new price at which to reopen trading, the S.E.C. said. The percentage bands would be doubled during the opening and closing periods of market trading, and broader price bands would apply to stocks below $1.

Mary L. Schapiro, the chairwoman of the S.E.C., said that the circuit breakers that were put in place last June after the May 6 market break “helped to limit significant volatility and bring uniformity to decisions regarding trading halts in individual stocks.”

“But we felt that we could improve upon the system,” she added, and therefore have been working with Finra and the exchange on ways “to limit extraordinary market volatility.”

MAYBE IF THE RULES SAID YOU HAD TO HOLD A STOCK FOR....2 WEEKS. THAT WOULD TAKE OUT THE HFT AND SPECULATORS....

[Po_d Mainiac]

73. That's like saying you can't eat the groceries

you bought for 2 weeks. What if you were told you have to hold the Tepco stock you purchased the day before the quake?

The HFT's could be taken down by simply adding a miniscule fee on all orders and multiplying it on un-filled orders placed for less than a couple seconds.

[Demeter]

92. Anybody Foolish Enough to Buy Nukes Deserves to Lose, IMO

I'm a very conservative investor.

[Demeter]

50. Ryan budget targets key piece of Dodd-Frank TODAY'S MUST READ

http://thehill.com/blogs/on-the-money/budget/154095-ryan-budget-targets-key-piece-of-dodd-frank

House Budget Committee Chairman Paul Ryan's (R-Wis.) budget proposal would eliminate a key aspect of the Dodd-Frank financial reform law intended to allow the government to avoid future bailouts in crises.

The budget proposal offered by Ryan and House Republicans Tuesday would apparently eliminate a pair of Dodd-Frank provisions -- one that allows the new Financial Stability Oversight Council to designate nonbank firms as "systemically significant," and another that would allow the Federal Deposit Insurance Corporation (FDIC) to step in and wind down large financial firms that are failing.

"Their (Democrats) financial overhaul is not reform. Its fundamental architecture expands and centralizes power in Washington, doubling down on the root causes of the 2008 crisis," Ryan's budget proposal states. "This budget would end the regime now enshrined into law that paves the way for future bailouts."


Republicans contended during the debate on Dodd-Frank that those measures ensure future bailouts for firms when they are hit hard, while proponents contend they do just the opposite -- by putting in places procedures that allow firms to be dismantled in an orderly fashion, it prevents the need for future broad bailouts...

[Demeter]

53. Budget wars: Down to the wire

http://www.politico.com/news/stories/0411/52623.html

With Republicans upping the ante on spending cuts, President Barack Obama took a tougher line himself Tuesday, warning he won’t sign another stopgap bill without first reaching a deal over the 2011 budget — even at the risk of a shutdown Friday. STUPID--STUPID--STUPID!

Obama’s comments followed a meeting with congressional leaders at which House Speaker John Boehner floated a compromise of $40 billion in spending cuts — $7 billion more than the $33 billion target negotiators have been working toward since last week.

Read more: http://www.politico.com/news/stories/0411/52623.html#ixzz1IkS2pRQM

[Demeter]

56. House GOP to distribute shutdown plan

http://www.politico.com/news/stories/0411/52532.html

Republican leaders are preparing the House for a government shutdown, as they plan to distribute a pamphlet about the mechanics of a partial congressional work-stoppage to all lawmakers’ offices Tuesday morning, according to several senior House aides.

It’s the strongest signal yet that House Speaker John Boehner believes the White House and Congress could fail to strike a deal on a long-term funding bill before the government’s authority to spend money runs out on Friday. Talks came to a standstill Monday, amid amplified partisan recriminations.

To illustrate just how tense the situation has become, Boehner (R-Ohio) did not initially commit to a meeting President Barack Obama plans to host at the White House on Tuesday — the same day House Republicans plan to release their entitlement-slashing budget plan for the fiscal year that begins Oct. 1. Boehner’s office confirmed late Monday that he will attend but arrive after it starts.

With that as a backdrop, House Administration Committee Chairman Dan Lungren (R-Calif.) has been tasked with compiling and distributing the pamphlet. It is designed to give guidance on which employees are considered essential and which are not allowed to work during a shutdown, advise congressional staff about the status of their benefits during a shutdown and outline which House services will continue to operate.

Democrats pounced on the news.

“The Republican leadership is preparing for a shutdown. Instead of coming to the table to work with Democrats and the White House, who have offered $33 billion in cuts, Speaker Boehner is taking his marching orders from the Tea Party, who want to ‘cut it or shut it,’” said a House Democratic leadership aide.

“Republicans are the only ones who are talking about a shutdown and it has never been more clear that Boehner has lost control of his conference.”

HOW DOES THAT DEFINITION OF INSANITY GO?

[Festivito]

59. Debt: 04/04/2011 14,243,931,564,216.57 (DOWN 7,242,952,091.91) (Mon, UP a little.)

(Good day.)
A Mickey D again, for tea before the encapsulating end of a second floor.
(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)
= 9,650,003,952,066.04 + 4,593,927,612,150.53
UP 336,873,927.41 + DOWN 7,579,826,019.32

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 $3,208.03 makes 1T$.
A family of three: Mom, Dad, Child: $9.62, ABOUT TEN BUCKS for a 1B$ 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 311,717,792 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 $45,694.96.
A family of three owes $137,084.88. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 20 reports in the last 30 to 31 days.
The average for the last 20 reports is 3,065,218,966.78.
The average for the last 30 days would be 2,043,479,311.18.
The average for the last 31 days would be 1,977,560,623.73.
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$/day.
There were 126 reports in 186 days of FY2011 averaging 5.42B$ per report, 3.67B$/day.
Above line should be okay

PROJECTION:
There are 657 days remaining in this Obama 1st term.
By that time the debt could be between 15.1 and 17.6T$.
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)
04/04/2011 14,243,931,564,216.57 BHO (UP 3,617,054,515,303.49 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 +0,682,308,533,324.80 ------------* * * * * * * * * * * * * * * * * BHO
Endof11 +1,338,938,788,513.72 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
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 -
03/25/2011 -000,034,574,737.25 ----
03/28/2011 +000,227,402,237.21 ------------******** Mon
03/29/2011 +000,181,007,415.32 ------------********
03/30/2011 +000,670,089,469.30 ------------********
04/04/2011 +000,336,873,927.41 ------------******** Mon

39,886,421,806.35 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=4801278&mesg_id=4801409

[Festivito]

76. Not that Republicans would lie, but, the top weekly increases in debt... were BUSH'S.

I heard some blather-mouth Republican trying to create a
statistic that Obama had the highest of weekly increases to
the debt, so I ran the numbers. 

What follows goes by a week of reports made to debt to the
penney. Not a Mon to Fri week, but any week of reports, e.g.
Wed to Wed.  Obama took control on Jan 20, 2009.

10/01/08	3.320%	 336,144,405,299.37 	1   Bush, *
10/02/08	2.951%	 299,499,317,700.18 	2   Bush, *Note: several
around the same week
10/03/08	2.916%	 297,069,475,750.02 	3   Bush, *
10/06/08	2.377%	 242,176,115,427.21 	4   Bush, *
09/30/08	2.326%	 233,155,652,236.45 	5   Bush, *
12/31/09	1.706%	 210,077,058,553.00 	6    OBAMA, Note: End of
a year
01/05/10	1.651%	 203,082,446,426.00 	7    OBAMA, and it was a
Bush devised bailout
10/07/08	1.952%	 199,527,296,030.00 	8   Bush
10/23/08	1.834%	 192,973,984,956.90 	9   Bush
10/24/08	1.803%	 189,748,856,854.50 	10  Bush
01/04/10	1.512%	 185,796,943,883.50 	11   OBAMA
09/25/08	1.874%	 184,618,163,124.85 	12  Bush
10/21/08	1.653%	 172,986,244,329.70 	13  Bush
10/20/08	1.629%	 170,508,212,246.00 	14  Bush
10/22/08	1.616%	 169,614,011,175.60 	15  Bush
09/26/08	1.640%	 162,189,911,554.74 	16  Bush
07/06/09	1.408%	 162,169,104,891.90 	17   OBAMA
06/30/10	1.224%	 161,623,830,322.20 	18   OBAMA
09/29/08	1.606%	 159,712,066,071.19 	19  Bush
12/31/10	1.134%	 159,069,928,103.90 	20   OBAMA

Eat that lying Pubbies.

[Demeter]

93. Good Job, Festivo

Beat them to death with facts.

[Festivito]

85. Debt: 04/05/2011 14,262,144,462,897.94 (UP 18,212,898,681.37) (Tue, DOWN a little.)

(Good day.)
The rain in vain, falls mainly on the plane.
(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)
= 9,649,972,136,434.37 + 4,612,172,326,463.57
DOWN 31,815,631.67 + UP 18,244,714,313.04

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 $3,207.96 makes 1T$.
A family of three: Mom, Dad, Child: $9.62, ABOUT TEN BUCKS for a 1B$ 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 311,724,992 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 $45,752.33.
A family of three owes $137,256.99. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 21 reports in the last 30 to 32 days.
The average for the last 21 reports is 3,786,537,048.42.
The average for the last 30 days would be 2,650,575,933.90.
The average for the last 32 days would be 2,484,914,938.03.
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$/day.
There were 127 reports in 187 days of FY2011 averaging 5.52B$ per report, 3.75B$/day.
Above line should be okay

PROJECTION:
There are 656 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)
04/05/2011 14,262,144,462,897.94 BHO (UP 3,635,267,413,984.86 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 +0,700,521,432,006.20 ------------* * * * * * * * * * * * * * * * * BHO
Endof11 +1,367,327,928,782.16 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
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 -
03/25/2011 -000,034,574,737.25 ----
03/28/2011 +000,227,402,237.21 ------------******** Mon
03/29/2011 +000,181,007,415.32 ------------********
03/30/2011 +000,670,089,469.30 ------------********
04/04/2011 +000,336,873,927.41 ------------******** Mon
04/05/2011 -000,031,815,631.67 ----

39,022,547,665.90 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=4802577&mesg_id=4802755

[xchrom]

61. Not a prayer for US-Vietnam diplomacy

http://www.atimes.com/atimes/Southeast_Asia/MD07Ae01.html

While much has been made of the role leaked confidential United States diplomatic cables have played in the political convulsions now sweeping the Middle East and North Africa, there is at least one batch of documents that show how US President Barack Obama's government has willfully looked away from sustained abuses committed by an emerging strategic ally in Asia: Vietnam.
The cables in question, entitled "Vietnam Religious Freedom Update - the Case Against CPC ", were written in 2010 by US ambassador to Vietnam Michael Michalak and published by WikiLeaks in January this year. The leaked correspondence which assessed Vietnam's freedom of


religion situation blatantly failed to mention the hundreds of Christian Montagnards, or Degar people, currently imprisoned for practicing their religion and the sustained persecution of independent house churches.

The leaked cables dismiss Vietnam's religious repression as "primarily land issues" and that such actions "should not divert our attention from the significant gains in expanding religious freedom that Vietnam has made".

For years, human-rights groups and concerned US Congressmen have complained about Vietnam's abysmal freedom of religion record. The US State Department, keen to foster ties with Hanoi in a bid to counterbalance China's regional rise, has through its silence effectively validated Vietnam's consistent denials about committing human-rights abuses, including its persecution of the Montagnards.

[Adsos Letter]

78. Vietnam: Montagnards Face Religious, Political Persecution

Link to interesting report from Human Rights Watch: http://www.hrw.org/en/news/2006/06/13/vietnam-montagnards-face-religious-political-persecution

Long history of conflict between ethnic Vietnamese and Montagnard tribal groups; it appears the Vietnamese want valuable Central Highlands land for coffee production.

Montagnard role as American ally in Vietnam War didn't increase their stature with the current government.

[Demeter]

62. LAUGH FOR THE DAY: Bernanke Says Fed Will Act If Inflation More Than ‘Transitory’

http://www.bloomberg.com/news/2011-04-05/bernanke-says-fed-will-act-if-inflation-increase-is-more-than-transitory-.html

Federal Reserve Chairman Ben S. Bernanke said he expects an increase in commodity prices to create a “transitory” boost in U.S. inflation and that the central bank would act if he’s proven incorrect.

“So long as inflation expectations remain stable and well anchored” and commodity-price increases slow, as he’s forecasting, then “the increase in inflation will be transitory,” Bernanke said today in response to audience questions after a speech in Stone Mountain, Georgia.

“We have to monitor inflation and inflation expectations extremely closely because if my assumptions prove not to be correct, then we would certainly have to respond to that and ensure that we maintain price stability,” he said.

The dollar rose against the euro and yen after the comments, which are similar to both Bernanke’s congressional testimony and the statement from the policy-setting Federal Open Market Committee last month. He told lawmakers March 1 that Fed officials “continue to monitor these developments closely and are prepared to respond as necessary,” while the FOMC said on March 15 that it “will pay close attention to the evolution of inflation and inflation expectations.”

SURE IT WILL...AS LONG AS BOOTING BEN IS THE FIRST STEP...

[xchrom]

68. bullshit from people who don't live in 'our' world. nt

[Demeter]

63. DUTY CALLS

Carry on, Marketeers!

[xchrom]

66. trouble ahead? --Seoul agonizes over feeding the North

http://www.atimes.com/atimes/Korea/MD07Dg01.html

BEIJING - Things got Byzantine on Monday as a former United States ambassador to South Korea, Donald Gregg, jumped into the hot water of a debate: whether the international community should resume food aid to North Korea. He is for it. South Korea is against it.

Writing in The Korea Times, South Korea's oldest English-language newspaper, Gregg eloquently argued for the provision of food to North Korea, backing his argument with conversations he had had with individuals who had just returned from the North on the severity of the food crisis. "I devoutly hope ... Seoul and Washington can come together in agreement on the need for humanitarian food aid being rushed to North Korea," he concluded.

[xchrom]

67. Tajik-Iranian ties flourish

http://www.atimes.com/atimes/Central_Asia/MD07Ag01.html

Iran has steadily expanded its economic position in Tajikistan since the start of 2011. In February, a private Iranian company signed an agreement with the Tajik Ministry of Energy and Industry (MEI), pledging to build a large cement plant in Tajikistan's southern Khatlon province. When completed, the coal-driven plant is expected to produce two million tonnes of cement annually, using local limestone reserves. The company will also build a coal power plant to supply energy to the cement producing facility. According to the MEI, Iranian investment in the project will total US$500 million.

Iran's hitherto largest investment project in the country aims to help Tajikistan meet its steadily growing demand for cement. Boosted by large-scale energy and infrastructure projects, the


demand is presently estimated at 1 million to 1.5 million tonnes per year and continues to increase. With domestic production standing at only 290,000 tonnes in 2010, Dushanbe has heavily relied on cement imports from Pakistan and Iran to meet its needs. The Iranian-built plant is expected to provide Tajikistan with surplus cement output that can be used in new infrastructure projects or exported.

[Roland99]

70. Some Rick Scott hypocricy

He wants to cut spending, eh?

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=145x13527


:eyes:

[xchrom]

71. well who would have ever thought that?

:eyes:

[Fuddnik]

74. Cleveland school board lays off 643 teachers, closes 7 schools

http://blog.cleveland.com/metro/2011/04/cleveland_schools_lay_off_xx_c.html


CLEVELAND, Ohio -- The Cleveland school board took the stage at its downtown auditorium Tuesday and played what's become a recurring role.

It laid off 643 teachers, some for the third time in the last seven years.

Among those on the layoff list is Sherida Freeman, the teacher featured with her students in the well-received short film "Girlfriends Club" shown during the Cleveland International Film Festival, which ended Sunday.

The board also closed seven of its 94 schools, including Giddings Elementary where Freeman teaches. In all, the cuts aimed at stabilizing the district financially along with slight revenue increases total nearly $73 million.