STOCK MARKET WATCH, Tuesday, April 19, 2011

[Pale Blue Dot]

Source: du

STOCK MARKET WATCH, Tuesday, April 19, 2011

AT THE CLOSING BELL ON April 18, 2011

Dow 12,201.59 -140.24 (-1.15%)
Nasdaq 2,735.38 -29.27 (-1.07%)
S&P 500 1,305.14 -14.54 (-1.11%)
10-Yr Bond... 3.40 +0.02 (+0.56%)
30-Year Bond 4.48 +0.02 (+0.40%)

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Market Conditions During Trading Hours

Euro, Yen, Loonie, Silver and Gold

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

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

Bush Administration Officials Charged = 1
Name(s): Richard Lopez Razo

Financial Sector Officials Convicted since 1/20/09 = 11

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This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.

Read more: du

[Pale Blue Dot]

1. Today's Reports

Apr 19 08:30 Housing Starts Mar 500K 520K 479K
Apr 19 08:30 Building Permits Mar 530K 540K 534K 517K

Read more: http://www.briefing.com/Investor/Public/Calendars/EconomicCalendar.htm#ixzz1Jxaw4kAo

[Pale Blue Dot]

2. Oil falls near $106 as S&P cuts US debt outlook

SINGAPORE – Oil prices fell to near $106 a barrel Tuesday in Asia after a credit ratings agency warned it could downgrade the United States, highlighting uncertainty about economic growth and demand for crude.

Benchmark crude for May delivery was down 91 cents at $106.21 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell $2.54, or 2.3 percent, to settle at $107.12 on Monday.

In London, Brent crude for June delivery was down $1.01 to $120.60 a barrel on the ICE Futures exchange.

On Monday, Standard & Poor's Ratings Service lowered its outlook for the U.S. long-term debt rating to "negative" from "stable." S&P didn't reduce its AAA rating but warned that the country's $1.5 trillion deficit, at 11 percent of gross domestic product, was too high.

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

[xchrom]

4. High oil prices to boost Reliance Industries, ONGC Q4

http://in.reuters.com/article/2011/04/19/idINIndia-56430820110419?type=economicNews

(Reuters) - Falling gas output and a rising subsidy burden are expected to weigh on the respective outlooks of energy major Reliance Industries and explorer Oil and Natural Gas Corp, taking the shine off their likely strong fourth-quarter earnings.

Crude oil prices rose 16.8 percent in the March quarter, which should help Reliance, India's largest-listed firm, significantly expand refining and petrochemicals margins.

Rising crude prices are also likely to boost profits at state-run ONGC.

"Crude oil prices continue to be on an upward trend and that is good news for both companies," said Ambareesh Baliga, chief operating officer at Way2Wealth Securities.

[xchrom]

5. Asia voices confidence in U.S. debt after S&P jolt

http://in.reuters.com/article/2011/04/19/idINIndia-56427620110419?type=economicNews

(Reuters) - Some of the United States' biggest creditors moved to shore up confidence in its sovereign debt on Tuesday after Standard & Poor's threatened to cut its credit rating on the world's top economy, touching a nerve among big holders of Treasuries.

Asian nations have amassed trillions of dollars in U.S. government bonds through recycled export earnings, and have a vital interest in maintaining their value. So it was no surprise that officials were keen to play down the danger.

"The United States is tackling fiscal issues in various ways, so I still think U.S. Treasuries are basically an attractive product for us," Japanese Finance Minister Yoshihiko Noda told reporters after a cabinet meeting.

Treasury prices did indeed prove resilient on Tuesday, though that did not stop stocks markets from skidding across Asia, where investors were already worried that Greece may be on the verge of restructuring its debt.



damn it -- put that in the wrong place!

[xchrom]

19. i put the above in the wrong place -- but i want to reply with this.

http://www.businessweek.com/news/2011-04-19/asian-stocks-fall-as-u-s-credit-outlook-cut-oil-prices-drop.html

Asian Stocks Fall as U.S. Credit Outlook Cut; Oil Prices Drop

April 19 (Bloomberg) -- Asian stocks fell for a third day after Standard & Poor’s cut the U.S. long-term credit outlook, fueling concern that a recovery in the global economy may slow.

Toyota Motor Corp., the world’s No. 1 carmaker, dropped 3.1 percent in Tokyo. BHP Billiton Ltd., Australia’s biggest oil producer, dropped 1.7 percent after oil and metal prices declined. Cnooc Ltd. China’s largest offshore energy producer, retreated 2.1 percent in Hong Kong. Advantest Corp., the world’s second-largest maker of semiconductor-testing equipment, slumped 3.2 percent in Tokyo after Texas Instruments Inc. forecast revenue and profit that fell short of some analysts’ estimates.

The MSCI Asia Pacific Index fell 1 percent to 134.22 as of 7:59 p.m. in Tokyo, with about four stocks dropping for each that climbed on the 1,023-member gauge. The measure fell 0.5 percent last week, reversing three straight weeks of gains.

“If we get down to a point where the U.S. has its debt downgraded, the deflationary effects will be felt globally,” said Melbourne-based Tim Schroeders, of Pengana Capital Ltd., which manages about $1 billion. “A lot of credit is priced off U.S. denominated debt and those effects will be felt around the world.”

[Demeter]

23. Poor Suckers Will Try to Buy Everything and Use Up Their Dollar Hoards

[xchrom]

7. OPEC's Al-Badri says there is no shortage in oil market

http://in.reuters.com/article/2011/04/19/idINIndia-56429220110419?type=economicNews

(Reuters) - OPEC Secretary General Abdullah Al-Badri said on Tuesday the oil exporters' group still had significant spare capacity despite recent events which have affected supply and spurred oil prices.

[xchrom]

9. Making a killing

http://www.arabianbusiness.com/making-killing-394594.html

Investors who bought BP's stock and bonds when oil was spewing out of its well in the Gulf of Mexico a year ago made a killing in a classic example of turning panic into profit. And in this case it was probably more about smart risk-taking than contrarian luck.

If you had invested in BP at its low point on June 25 - the day British Prime Minister David Cameron suggested the company could be destroyed by the spill - you would now be looking at a return of more than 65 percent in US dollar terms. It would be even greater but for a dispute threatening its $18bn tie-up with Russia's Rosneft.

Yields on the company's short-term unsecured notes blew out beyond junk levels to more than 15 percent from less than 1 percent in early 2011 but are now back below 1 percent.

It is a similar story with other companies linked to the disaster. Rig owner Transocean is up 80 percent, Halliburton , which provided the cement work for the well, has soared 121 percent, while the manufacturer of the rig's blowout preventer, Cameron, is up 64 percent.

[xchrom]

3. Recommend

[xchrom]

6. Government asks sugar mills to register for exports - source

http://in.reuters.com/article/2011/04/19/idINIndia-56432520110419?type=economicNews


(Reuters) - India, which has allowed exports of 500,000 tonnes of sugar following a bumper crop, has asked mills to register starting Tuesday, a source in the food ministry said.

The official, who is directly involved in the decision making process, said permission would be granted within three days of the applications and the mills would have to ship out within four and half months.

[DemReadingDU]

8. Builders Probably Broke Ground on More U.S. Homes in March

Probably?


4/19/11 Builders Probably Broke Ground on More U.S. Homes in March
A gain in housing starts in March probably failed to make up for ground lost the prior month as U.S. homebuilders continued to struggle almost two years into the economic recovery, economists said before a report today.

Work began on 520,000 houses at an annual pace, up 8.6 percent from the prior month, according to the median estimate of 77 economists surveyed by Bloomberg News. Starts fell 23 percent in February, the most since 1984, to the lowest level in almost two years.

Housing, which pushed the economy into the recession, remains the weak link in the recovery and continues to weigh on consumer spending as home prices fall. The prospect of more foreclosures and joblessness forecast to average 8.7 percent this year means any recovery in housing may take time to develop.
more...
http://www.bloomberg.com/news/2011-04-19/gain-in-march-starts-of-u-s-homes-probably-failed-to-make-up-lost-ground.html

[xchrom]

10. The $180bn black hole

http://www.arabianbusiness.com/the-180bn-black-hole-394217.html

In 2008, the UAE Central Bank was forced to pump billions of dollars into the country’s banking sector in order to get liquidity flowing through the system. Usually when this happens, phrases such as Lehman Brothers, Dubai World debt, Freddie Mac, Fannie Mae, subprime mortgages and the global credit crunch crop up somewhere along the line.

However, the blame for the liquidity squeeze in the UAE’s banks can’t be blamed entirely on the global situation as the problem in the sector actually started a lot closer to home, according to the head of the region’s largest bank.

“In the later part of 2007, probably around $180bn come into the economy on the assumption that the authorities here would delink the currencies and therefore some could make some quick profits,” says Rick Pudner, CEO of Emirates NBD.

Speculation in 2007 regarding the decoupling of the dirham and the US dollar subsequently proved to be unfounded and — as a result — the billions of dollars of “hot money” flowed back out of the UAE’s banks. All well and good, but Pudner says the problem was that the money had already been used to lend to eager borrowers who wanted quick cash during the boom era.

[xchrom]

11. No major foreign investor exodus seen amid unrest

http://www.arabianbusiness.com/no-major-foreign-investor-exodus-seen-amid-unrest-394612.html

Foreign investor outflows from Gulf Arab markets during recent political unrest have been significantly lower than those seen during the financial crisis, the regional head of custody at HSBC said.

Stock markets in the region have been pretty resilient to political turmoil, signalling a positive tone among investors, said Arindam Das, who is also deputy head of the UK lender's securities services for the Middle East and North Africa (MENA) region.

"I have seen far less money going out of markets here than what I saw during the financial crisis. Maybe the reason that money is not flowing out is in anticipation of something good that will happen," Das said in an interview last week.

Most Gulf Arab markets have shrugged off initial losses when unprecedented political unrest in countries like Egypt and Bahrain led to stock market sell-offs. Dubai's flagship index, for instance, has risen over 12 percent in the last month.

[xchrom]

12. no, it's not about snooki: Gulf clients deposit more than $30bn in Jersey banks

http://www.arabianbusiness.com/gulf-clients-deposit-more-than-30bn-in-jersey-banks-392365.html

Gulf-based clients have deposited more than $30bn in banks located in the offshore tax haven of Jersey, the head of an organisation that promotes the island as a financial centre said.

“We can’t track everything for privacy and confidential reasons, but for banking deposits approximately twelve percent of all banking deposits in Jersey come from the GCC,” said Sean Costello, the head of business development for GCC and India at Jersey Finance.

Latest figures from Jersey Finance show deposits in the island’s banks during the fourth quarter of 2010 amounted to £161.6bn ($262.2bn), some $31bn of which originated from Gulf clients.

[xchrom]

13. L.A. billionaire Udvar-Hazy's aircraft leasing firm raises $802.5 million in IPO

http://latimesblogs.latimes.com/money_co/2011/04/ipo-air-lease-corp-udvar-hazy-airlines.html

On a gloomy day for the stock market, investors gave a warm welcome Monday to the initial public offering of Air Lease Corp., the Century City aircraft leasing company founded by Los Angeles billionaire Steven Udvar-Hazy.

Air Lease, or ALC, sold 30.3 million shares at $26.50 each of Class A common stock, raising $802.5 million, according to Reuters data. The company had planned to sell 25 million shares for $25 to $28 each.

The stock will begin trading Tuesday on the New York Stock Exchange under the symbol AL.

[hamerfan]

14. Mcdonalds to hire 50k workers

http://www.huffingtonpost.com/2011/04/04/mcdonalds-to-fill-50000-jobs_n_844356.html

We're saved! The recession is over! We're not doomed! Jobs for everyone! More tax cuts for the rich! POTUS doing a heckuva job!
:sarcasm:

[Fuddnik]

24. Dan Quayle was a prophet!

See.... the economy's getting better. Burger King is hiring.

I also heard that the cat food plant is putting on another shift.

[Demeter]

25. Where are they gonna hire the customers?

Those jobs are probably overseas, anyway.

GIVES POIGNANCY TO THE PHRASE "WILL WORK FOR FOOD"

[xchrom]

15. Muni-bond investors can't count on cities for financial information

http://latimesblogs.latimes.com/money_co/2011/04/muni-bond-investors-cant-count-on-cities-for-financial-information.html

Given the fiscal woes of city governments, it’s more important than ever for taxpayers and municipal-bond investors to get accurate and reliable financial data.

But only a handful of U.S. cities post useful financial information about themselves on their websites, according to a new study.

Of the 75 largest U.S. cities, only a dozen offer detailed and up-to-date data, according to the study by Yonghong Wu, an assistant professor at the University of Illinois at Chicago, and MuniNetGuide, a research firm specializing in public finance and municipal bonds.

[xchrom]

16. Record Earnings Streak May Rest With Momentum Kings Apple, GE

http://www.businessweek.com/news/2011-04-19/record-earnings-streak-may-rest-with-momentum-kings-apple-ge.html

April 19 (Bloomberg) -- Investors counting on a record streak of higher-than-forecast profits to keep driving share prices may get clues from 79 companies reporting this week with the best history of earnings surprises.

Apple Inc., maker of the iPhone, and General Electric Co., the world’s biggest builder of jet engines, are among companies that have topped analysts’ projections in the last four quarters and had estimates boosted since February, according to data compiled by Bloomberg. Standard & Poor’s 500 Index companies will probably report average net income growth of 10 percent in the period, data compiled by Bloomberg show.

“You can call it momentum, progress or improvement, but there’s always interest in companies that can do better and better each quarter, come up with something new, pull a rabbit out of the hat,” said John Carey, a Boston-based money manager at Pioneer Investments, which oversees about $250 billion. “At the same time, there were some unusual, striking events in the first quarter that upset and distracted investors.”

Companies in the S&P 500 have beaten analyst earnings estimates for eight straight quarters, the most since at least 2006, helping propel the index as much as 99 percent from the market bottom on March 9, 2009, data compiled by Bloomberg show. The benchmark gauge for U.S. stocks has risen 3.8 percent since it fell to its low this year of 1,256.88 on March 16, following Japan’s biggest earthquake on record and higher oil prices spurred by unrest in Middle East and northern Africa.

[xchrom]

17. European Stocks Rebound From Biggest Drop in a Month; LVMH Gains

http://www.businessweek.com/news/2011-04-19/european-stocks-rebound-from-biggest-drop-in-a-month-lvmh-gains.html

April 19 (Bloomberg) -- European stocks rose, rebounding from the biggest drop in a month, as results from LVMH Moet Hennessy Louis Vuitton SA to SKF AB and Novartis AG beat estimates. Asian shares retreated and U.S. index futures were little changed.

LVMH, the world’s largest luxury-goods maker, climbed 3.9 percent after first-quarter sales topped analysts’ projections. SKF, the biggest maker of ball bearings, rallied 6.4 percent after reporting record quarterly profit. Novartis, a Basel, Switzerland-based drugmaker, advanced the most in four months.

The Stoxx Europe 600 Index gained 0.6 percent to 274.65 at 11:30 a.m. in London. The gauge tumbled 1.7 percent yesterday as Standard & Poor’s Ratings Service cut its long-term sovereign credit outlook for the U.S., the world’s largest economy, to negative from stable. The benchmark measure of European equities has still climbed 4.8 percent from this year’s low on March 16.

“Earnings have been of good quality,” said Jerome Forneris, who helps manage $11 billion at Banque Martin Maurel in Marseille. “If the whole earnings season is like this, we hope the market will make that its focus. This is good news, but in a calmer environment, the market would be gaining more. The market still is timid.”

[xchrom]

18. Greece Default Push Risks Reviving Contagion as Bonds Plunge

http://www.businessweek.com/news/2011-04-19/greece-default-push-risks-reviving-contagion-as-bonds-plunge.html

April 19 (Bloomberg) -- European investors and politicians prodding Greece to restructure its debt may end up wishing they hadn’t.

Talk of restructuring spurred by Germany risks re-igniting Europe’s debt crisis, enveloping Spain just weeks after European leaders said bailouts of Greece, Ireland and Portugal ended contagion. Under a Greek default, Europe’s financial system would strain as banks in and outside Greece and holders of Greek bonds, such as the European Central Bank and domestic pension funds, tally losses.

“By restructuring Greek debt you also may precipitate a crisis in Spain,” David Watts, a strategist at CreditSights Inc. in London, said in a telephone interview. “At that point it doesn’t matter how much you’ve saved by restructuring Greece, the fallout from Spain is much greater. The issue comes back to not knowing the ultimate cost.”

Speculation by German officials that Greece may run out of alternatives to restructuring underscores their reluctance to spend more on bailouts, while ignoring precedent. Sovereign financial crises usually don’t come in isolation. Thailand’s 1997 devaluation triggered the Asian crisis, Russia’s 1998 default set off a global financial pandemic and Latin America required the U.S. to develop Brady bonds as a virtual guarantee.

[xchrom]

20. Hedges: We Must Defy the Corporate Monsters Laying Waste to Our World

http://www.alternet.org/economy/150652/hedges%3A_we_must_defy_the_corporate_monsters_laying_waste_to_our_world

April 18, 2011 |

These are remarks Chris Hedges made in Union Square in New York City last Friday during a protest outside a branch office of the Bank of America.

We stand today before the gates of one of our temples of finance. It is a temple where greed and profit are the highest good, where self-worth is determined by the ability to amass wealth and power at the expense of others, where laws are manipulated, rewritten and broken, where the endless treadmill of consumption defines human progress, where fraud and crimes are the tools of business.

The two most destructive forces of human nature—greed and envy—drive the financiers, the bankers, the corporate mandarins and the leaders of our two major political parties, all of whom profit from this system. They place themselves at the center of creation. They disdain or ignore the cries of those below them. They take from us our rights, our dignity and thwart our capacity for resistance. They seek to make us prisoners in our own land. They view human beings and the natural world as mere commodities to exploit until exhaustion or collapse. Human suffering, wars, climate change, poverty, it is all the price of business. Nothing is sacred. The Lord of Profit is the Lord of Death.




my apologies if some one posted this before.

[DemReadingDU]

21. 'Happy Days' actors claim fraud, money owed for merchandising

4/19/11 'Happy Days' actors claim fraud, money owed for merchandising


"Happy Days," one of the most popular shows in television history, faces an unhappy legacy nearly four decades after it first went on the air. Four cast members, and the estate of Tom Bosley, who died last October, claim CBS (CBS, Fortune 500), which owns the show, has not paid them for merchandising revenues they are owed under their contracts.

The show, which originally aired from 1974 to 1984, "represented to the public what the best of America has to offer," said Anson Williams, who played Potsie. "The friendships, the opportunities, the warmth. Unfortunately, now 'Happy Days' also represents the worst of America -- of what major companies are trying to get from it, trying to use it for, and forgetting the family it created."

In exclusive interviews with CNN, the cast members -- Williams, Don Most, Marion Ross and Erin Moran -- all claim they have been cut out of the merchandising bonanza the show has spawned. Those products includes comic books, t-shirts, scrapbooks, trading cards, games, lunch boxes, dolls, toy cars, magnets, greeting cards and DVDs where their images appear on the box covers.

When the actors learned their images were also put on "Happy Days," slot machines, they said they began wondering where all the money ended up. "When these slot machines came out, it was like Barnum and Bailey came to town," Williams said. "We were bombarded with, oh look at these pictures, they'd be all over the country."

more, and three video clips too...
http://money.cnn.com/2011/04/19/news/companies/happy_days_fraud_claim/index.htm


Edit: At end of the 1st video clip, it was noted that Henry Winkler and Ron Howard are not part of this suit.

[Demeter]

22. Happy Patriot's Day, Everyone

I live in grim anticipation of whatever foolish violence the idiots among us will be up to this day.

[Fuddnik]

26. Here's some inflicted on my friend John Russell by tea-baggers on Friday.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=385x574864


http://www.dailykos.com/story/2011/04/18/968184/-TeaBagger-Violence-Directed-At-Counter-Protesters


The Tea Party people and their esteemed list of speakers and of course CORPORATE AND LOBBYIST Sponsors were not without opposition. My wife who displayed tremendous courage in standing fast against a crazed assailant... and I ended up being the ONLY anti-propagandists to show up to counter this hypocritical and mis-informing event.

I brought my trusty new megaphone with me and spent my time in between being PHYSICALLY ACCOSTED by one individual whose overtly aggressive behavior (as Chyrisse captured on video) as she committed her acts of violence upon my person as well as my wife. See YouTube Channel CorporatistNationTV Link here... src="http://www.youtube.com/... />

Hear WMNF Tampa 88.5 FM Community Radio story here... Tea Party Counter Protesters Attacked At Tax Day Rally

Listen to the interviews of the "TeaBaggers" in the WMNF link above! Their thoughts and opinions demonstrate the marked pathology of their movement. "Ignorance represents the greatest threat to our democracy." The comments of the people interviewed for the radio spot are relevant documentation of this disturbing paradigm.
(snip)

[Festivito]

27. Debt: 04/15/2011 14,305,336,580,992.11 (UP 34,544,461,807.22) (Fri, UP a lot.)

(Over the old debt limit of 14.294-trillion dollars by 11-billion dollars. Good day.)
Off to the races.
(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)
= 9,679,202,714,701.01 + 4,626,133,866,291.10
UP 21,566,615,397.70 + UP 12,977,846,409.52

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 $3,207.22 makes 1T$.
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 311,796,992 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 $45,880.29.
A family of three owes $137,640.87. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 21 reports in the last 30 to 31 days.
The average for the last 21 reports is 3,208,776,385.40.
The average for the last 30 days would be 2,246,143,469.78.
The average for the last 31 days would be 2,173,687,228.82.
There were 252 reports in 365 days of FY2007 averaging 1.99B$ per report, 1.37B$/day.
There were 253 reports in 366 days of FY2008 averaging 4.02B$ per report, 2.78B$/day.
There were 75 reports in 112 days of GWB's part of FY2009 averaging 8.03B$ per report, 5.38B$/day.
There were 174 reports in 253 days of Obama's part of FY2009 averaging 7.33B$ per report, 5.07B$/day so far.
There were 249 reports in 365 days of FY2009 averaging 7.57B$ per report, 5.16B$/day.
There were 251 reports in 365 days of FY2010 averaging 6.58B$ per report, 4.53B$/day.
There were 134 reports in 197 days of FY2011 averaging 5.55B$ per report, 3.78B$/day.
Above line should be okay

PROJECTION:
There are 646 days remaining in this Obama 1st term.
By that time the debt could be between 15.2 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)
04/15/2011 14,305,336,580,992.11 BHO (UP 3,678,459,532,079.03 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 +0,743,713,550,100.40 ------------* * * * * * * * * * * * * * * * * * BHO
Endof11 +1,377,946,425,312.92 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
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 ----
04/06/2011 -000,011,756,275.73 ----
04/07/2011 +002,235,163,853.48 ------------*********
04/08/2011 +000,001,314,747.36 ------------******
04/11/2011 +000,390,366,211.15 ------------******** Mon
04/13/2011 +000,216,450,469.86 ------------********
04/14/2011 +004,827,508,513.07 ------------*********
04/15/2011 +021,566,615,397.70 ------------**********

14,748,246,305.86 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=4817979&mesg_id=4818192

[DemReadingDU]

36. The debt ceiling needs to be raised soon

From your postings, the debt amount goes up or down, day by day. But clearly, we are at the level where the debt ceiling needs to be increased soon. Or maybe not, and we'll get to see what then happens.

[Po_d Mainiac]

49. It would just mean that Treasury wood only be able to spend what it takes in

But that wood only be in the real world.

[Festivito]

53. Interesting situation. We're over the limit and there is no crying and gnashing of teeth.

I don't know what that new agreement looks like. That 100B$, oops, 38B$ agreement, oops, uhmn, 0.36B$ agreement.

So, what are Republicans going to do? Claim that there was no agreement and sue?

[Festivito]

54. Debt: 04/18/2011 14,309,159,097,877.65 (UP 3,822,516,885.54) (Mon, UP a little.)

(Over the old debt limit of 14.294-trillion dollars by 15-billion dollars. Good day.)
Late late start today.
(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)
= 9,679,522,848,142.48 + 4,629,636,249,735.17
UP 320,133,441.47 + UP 3,502,383,444.07

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 $3,206.99 makes 1T$.
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 311,818,592 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 $45,889.37.
A family of three owes $137,668.11. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 19 reports in the last 30 to 31 days.
The average for the last 19 reports is 4,436,667,208.33.
The average for the last 30 days would be 2,809,889,231.94.
The average for the last 31 days would be 2,719,247,643.82.
There were 252 reports in 365 days of FY2007 averaging 1.99B$ per report, 1.37B$/day.
There were 253 reports in 366 days of FY2008 averaging 4.02B$ per report, 2.78B$/day.
There were 75 reports in 112 days of GWB's part of FY2009 averaging 8.03B$ per report, 5.38B$/day.
There were 174 reports in 253 days of Obama's part of FY2009 averaging 7.33B$ per report, 5.07B$/day so far.
There were 249 reports in 365 days of FY2009 averaging 7.57B$ per report, 5.16B$/day.
There were 251 reports in 365 days of FY2010 averaging 6.58B$ per report, 4.53B$/day.
There were 135 reports in 200 days of FY2011 averaging 5.54B$ per report, 3.74B$/day.
Above line should be okay

PROJECTION:
There are 643 days remaining in this Obama 1st term.
By that time the debt could be between 15.2 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)
04/18/2011 14,309,159,097,877.65 BHO (UP 3,682,282,048,964.57 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 +0,747,536,066,985.90 ------------* * * * * * * * * * * * * * * * * * BHO
Endof11 +1,364,253,322,249.27 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
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 ----
04/06/2011 -000,011,756,275.73 ----
04/07/2011 +002,235,163,853.48 ------------*********
04/08/2011 +000,001,314,747.36 ------------******
04/11/2011 +000,390,366,211.15 ------------******** Mon
04/13/2011 +000,216,450,469.86 ------------********
04/14/2011 +004,827,508,513.07 ------------*********
04/15/2011 +021,566,615,397.70 ------------**********
04/18/2011 +000,320,133,441.47 ------------******** Mon

15,131,635,489.28 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=4819328&mesg_id=4819428

[Demeter]

28. Senators Want SEC To Explain Delay On Anti-Corruption Rule

http://www.huffingtonpost.com/2011/04/15/senators-want-sec-to-expl_n_849827.html

The bipartisan Senate sponsors of an anti-corruption measure are demanding to know why the Securities and Exchange Commission has unilaterally delayed its enactment.

The SEC had a Friday deadline to finalize rules requiring companies listed on U.S. stock exchanges to disclose how much they pay foreign governments to acquire drilling and mining rights in their countries, but it was announced that the deadline had been postponed.

Championed by Sens. Richard Lugar (R-Ind.) and Ben Cardin (D-Md.), the measure was included in July's Dodd-Frank Wall Street Reform and Consumer Protection Act, and is intended to make it more difficult for foreign leaders to hide and pocket the funds that energy and mining companies pay them...

IT'S TRULY A SHAME THAT SUCH LITTLE MINDS GET THESE TINY BEES IN THEIR BONNETS AND CANNOT SEE THE PTERODACTYLS OVERHEAD...

[Fuddnik]

29. They've got to finish stealing everything before they clamp down.

Only after they've got theirs, and there's nothing left to steal.

[Demeter]

30. Emerging Nations Reject Capital Plan

http://online.wsj.com/article/SB10001424052748703702004576268980074855142.html?mod=dist_smartbrief

Representatives of emerging nations rebuffed an International Monetary Fund plan to guide them on managing huge flows of capital into their economies, viewing it as a way to constrain their actions rather than help.

The IMF's policy-steering committee, at its spring meeting over the weekend, responded by effectively delaying the plan, which would influence the use of capital controls—tools such as taxes and restrictions on foreign investment. The committee agreed to study the issue more in coming months.

The IMF's recent endorsement of capital controls marked a reversal in its longstanding opposition to limits on the free flow of capital around the world. IMF officials had come to acknowledge emerging markets' need to curb surging inflows, which can fuel asset bubbles and inflation and hurt domestic exporters by driving currency values higher.

MORE INTERESTING STUFF AT LINK

[Demeter]

31. End of QE2 has some investors fearing fall in June

http://www.google.com/hostednews/ap/article/ALeqM5hhlJw1-tkPHlicxA9xAmCmZ0GJlg?docId=7fcc755368b040ed9a87bf65a718fbe1

Could the financial markets be heading for a June swoon? The answer likely hinges on what happens after the Federal Reserve's $600 billion effort to boost the economy expires. Some investors warn that the end of the program, known as QE2, will upend the stock market and push other markets in unexpected directions...Since last August, when Fed Chairman Ben Bernanke outlined the plan, the Standard & Poor's 500 index has gained 26 percent. Many also say it's partly to blame for rising commodity prices on everything from silver to cotton.

"It's the most important factor that explains markets the way they are now," says David Rolley, co-head of global fixed income at the fund manager Loomis Sayles. "So the most important question is what happens when QE2 stops?"

Ask investors and you get a variety of opinions. Bill Gross, manager of the world's largest mutual fund at Pimco, fears the worst. Take away the largest buyer of Treasurys and, he says, their prices are likely to fall and long-term interest rates likely to rise. That could hurt the economic recovery, and it's one reason his fund has dropped nearly all of its Treasury debt...Other investors and economists, including those at Goldman Sachs, believe QE2 will expire without a stir. A top Fed official agrees. "I wouldn't expect to see a financial market reaction to the termination of that program," said Janet Yellen, vice chair of the Fed's Board of Governors, in a speech in New York. She said that investors have already priced in the end of QE2.

Skeptics point to last April when a Fed program to buy mortgage bonds ended. A report by David Rosenberg, chief economist at Gluskin Sheff, outlined what happened between April 23 and August 27: IT WASN'T PRETTY...SEE LINK!

[Demeter]

32. Obama to hit road to rally support for debt reduction plan ahead of budget battles

http://www.washingtonpost.com/politics/obama-to-hit-road-to-rally-support-for-debt-reduction-plan-ahead-of-budget-battles/2011/04/17/AFl50OwD_story.html?hpid=z1


OOH....I JUST CAN'T RESIST A STRAIGHT LINE LIKE THAT!

http://www.youtube.com/watch?v=xe9raloACbg


i feel much better, i'll be good now

[Demeter]

42. Bada Bing!

Doesn't anyone like my snappy comeback?

I'm going off in a a corner to eat worms...

[Fuddnik]

43. Only problem is, he'll come back.

I found another music video, but it would be suicide to post it.

[Demeter]

45. But did you like it?

The implications across so many sociological and political lines notwithstanding...

It would make a great campaign song...for Elizabeth Warren!

[Fuddnik]

47. Of course I liked it.

Like I always say, When they hand you a fish, you gotta fry it.

[tclambert]

51. Nope, sorry, I thought it was too clichéd.

Someone hits the road, and you come up with the song "Hit the Road, Jack?" Seems a little obvious. Besides which, it then casts you in the role of "the meanest ol' woman that I ever seen." You're not even close. You're not even Republican. Would you cut off unemployment benefits with unemployment over 8%? Would you cut off health care to a poor child? See, you're hardly mean at all.

[Demeter]

55. The woman is mean to the man hitting the road

but you are right, on this board, I've got some really stiff competition for that title...

it is the cliche that makes it so special...

[Demeter]

33. Britain 'will not join eurozone bail-out fund'

LOUD CHORUS OF "I TOLD YOU SO" WAFTS OVER THE ENGLISH CHANNEL...

http://www.telegraph.co.uk/finance/economics/8456275/Britain-will-not-join-eurozone-bail-out-fund.html

Britain will not be part of any future eurozone bail-out fund, officials from the UK have told their European counterparts in the face of pressure to back a new safety net for troubled countries from 2013...

The UK is expected to be on the hook for about €4.5bn (£3.9bn) of the €75bn-€80bn rescue package for Portugal, largely through its 13.6pc share of the European Financial Stability Mechanism (EFSM), which the Labour government signed in its last act of office.

However, after the Portuguese and Irish bail-outs, the €60bn EFSM facility will be virtually used up. A larger scheme backed only by the eurozone nations expires in 2013, as does the EFSM.

Brussels has been pressing the UK to be part of the replacement, the European Stability Mechanism (ESM), on the grounds that it is a member of the European Union...

[Demeter]

34. Raising Reserve Requirements to Slow Inflation: China Shows How It is Done

U.S. economists seem to not understand that central banks can raise reserve requirements as way to control inflation. This is apparently the reason they find it inconceivable that the Fed could buy and hold large amounts of debt without leading to inflation. If the Fed buys and holds the debt, then the interest on the debt would be paid to the Fed and then refunded to the Treasury. In this way it would impose no net cost to taxpayers.

If the Fed were to buy and hold say $3 trillion of the debt being incurred due to the downturn, then it would reduce the projected interest burden in future years by close to $150 billion a year (@ $1.5 trillion over a decade), a bit less than 1.0 percent of GDP. Given the national obsession with reducing the deficit, it would be reasonable to expect that this would be one of the policies on everyone's list.

For some reason it is never mentioned. This is presumably because our economists don't have a very good understanding of economic policy. (They didn't see the $8 trillion housing bubble that wrecked the economy.)

Therefore, this NYT article

http://www.nytimes.com/reuters/2011/04/17/business/business-us-china-economy-rrr.html?_r=1&src=busln

on how China is raising reserve requirements to slow inflation should be important news to those in economic policy-making positions. China's central bankers would probably even be willing to provide tutorials to Federal Reserve Board Chairman Ben Bernanke and others to explain how they are raising reserve requirements. Maybe then this policy could be included on the list of ways to reduce the deficit.

Read more: http://www.businessinsider.com/raising-reserve-requirements-to-slow-inflation-china-shows-how-it-is-done-2011-4#ixzz1JyTzVhsh




http://europe.chinadaily.com.cn/business/2011-04/18/content_12342286.htm

[Demeter]

35. G-20 Targets ‘Too Big to Ignore’ Economies as Growth Will Outweigh Shocks

http://www.bloomberg.com/news/2011-04-17/g-20-names-too-big-to-ignore-economies-as-it-downplays-shocks.html

The U.S., China and five other large economies will face deeper scrutiny from their peers to ensure their policies don’t derail a global expansion that finance chiefs bet is strong enough to absorb recent shocks.

The seven countries have a gross domestic product greater than 5 percent of the Group of 20 nations’ economy, and so carry “the greater potential for spillover effects,” G-20 central bankers and finance ministers said during weekend talks in Washington.

Drawing up the list is part of a plan to spot imbalances in individual economies such as large trade gaps, and prescribe policies to fix them before they harm global growth. For now, the recovery is “broadening and becoming more self-sustained” even as unrest in the Middle East and North Africa, as well as Japan’s earthquake and tsunami, raise “uncertainty” about the outlook, policy makers said...

PARDON MY POINTING OUT THE OBVIOUS...BUT IT IS THE MULTINATIONAL CORPORATIONS THAT SHOULD BE RING-FENCED...

[Hotler]

37. k&r n/t

[Fuddnik]

38. Record high heat expected all week.

I'd better get outside and get some yard work done, before it starts roasting.

Then a jump in the pool!

[Demeter]

40. BRAGGART!

Rain, rain, go away....and somebody turn on the global warming, please!

At least the snow had mostly melted by the end of the day.

[Demeter]

39. And now, for something completely different...

Spock Cookie Jar

What do you put in the Spock Cookie Jar?

Well, cookies seem like a logical choice. Use it to store your favorite goodies in the kitchen, or just put it on display in your Star Trek Room. What do you mean you don't have a Star Trek Room?




FROM STARTREK.COM OF COURSE....DID I MENTION I HAD A BIRTHDAY THIS MONTH?

[DemReadingDU]

44. Hope you had a great day!

Happy Birthday!

[Demeter]

41. Ah, so! Dilbert!

[xchrom]

46. !!! Nt

[Ghost Dog]

48. Boom boom.

Will this become a scandal, in some imaginable future, even greater than that relating to the knowing sale of addictive and mortiferous tobacco?

[tclambert]

50. I have to share with you guys my response to the question, "Who is John Galt?"

Isn't John Galt the guy from "Atlas Shrugged" who shortly after that story developed kidney disease and lost all his money because his insurance company refused to cover his dialysis and kidney transplant because they said he already had the kidney disease when he last switched insurance plans, and thus wasn't covered due to having a "pre-existing condition?" Since he had refused to join a union, or a church, or make friends with any lesser humans, or sign up for any "socialist" government aid program, he had no one to provide him any help. He lost his home, went bankrupt, ended up living under an overpass, unable to afford his anti-rejection meds, eventually died of pneumonia, and his body, the parts scattered by hungry coyotes, wasn't found for three weeks.

Isn't that who John Galt is?

[Ghost Dog]

52. Hmm. At least I (don't think,yet) we need to worry about coyotes

over here in contemporary Europe.































What about the 'free' energy technology?