STOCK MARKET WATCH, Wednesday, July 13, 2011

[Pale Blue Dot]

Source: du

STOCK MARKET WATCH, Wednesday, July 13, 2011

AT THE CLOSING BELL ON July 12, 2011

Dow 12,446.88 -58.88 (-0.47%)
Nasdaq 2,781.91 -20.71 (-0.74%)
S&P 500 1,313.64 -5.85 (-0.45%)
10-Yr Bond... 2.96 +0.08 (+2.71%)
30-Year Bond 4.24 +0.07 (+1.63%)

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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

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 = 12

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http://l.yimg.com/bt/api/res/1.2/KQk02VSdZY8WNY54FWBaUQ--/YXBwaWQ9eW5ld3M7Zmk9Zml0O3E9ODU7dz05NTA-/

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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

Jul 13 07:00 MBA Mortgage Index 07/09 NA NA -5.2%
Jul 13 08:30 Export Prices ex-ag. Jun NA NA 0.5%
Jul 13 08:30 Import Prices ex-oil Jun NA NA 0.4%
Jul 13 10:30 Crude Inventories 07/09 NA NA -0.889M
Jul 13 14:00 Treasury Budget Jun -$45.0B -$45.0B -$68.4B

Read more: http://www.briefing.com/investor/calendars/economic/2011/07/11-15/#ixzz1Rz86dX3L

[Pale Blue Dot]

2. Oil hovers below $98 as US crude supplies jump

SINGAPORE – Oil prices hovered below $98 a barrel Wednesday in Asia after a report showed U.S. crude supplies unexpectedly rose last week, suggesting demand is weak.

Benchmark oil for August delivery was up 18 cents to $97.61 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. Crude gained $2.28 to settle at $97.43 on Tuesday.

In London, Brent crude fell 14 cents to $117.61 per barrel on the ICE Futures exchange.

The American Petroleum Institute said late Tuesday that crude inventories rose 2.3 million barrels last week while analysts surveyed by Platts, the energy information arm of McGraw-Hill Cos., had predicted a drop of 2.1 million barrels.

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

[Demeter]

8. Somebody must be getting a thrill out of the chokehold they have on the world

and the US especially, tightening, loosening, tightening, loosening...it's sick and depraved and this is something the government can and should put a stop to.

[Pale Blue Dot]

3. U.S. Stock-Index Futures Advance; Google, Amazon, Netflix Advance on China

U.S. stock futures rose, indicating the Standard & Poor’s 500 Index will rebound from a three-day slide, as Chinese growth topped forecasts and Federal Reserve Chairman Ben S. Bernanke prepares to testify on the economy.

Google Inc. (GOOG), Amazon.com Inc. (AMZN) and Netflix Inc. (NFLX) climbed in early New York trading as JPMorgan Chase & Co. (JPM) began coverage of the companies with an “overweight” recommendation. Kinetic Concepts Inc. (KCI) jumped 5 percent after agreeing to be acquired for $4.98 billion in cash.

S&P 500 futures expiring in September rallied 0.5 percent to 1,317.8 at 7:26 a.m. in New York. Dow Jones Industrial Average futures increased 57 points, or 0.5 percent, to 12,470.

China’s economy grew 9.5 percent in the second quarter from a year earlier, the statistics bureau in Beijing said, after a 9.7 percent gain in the first quarter. That beat the median 9.3 percent estimate in a Bloomberg survey of 18 economists.

http://www.bloomberg.com/news/2011-07-13/u-s-stock-index-futures-advance-google-amazon-netflix-advance-on-china.html

[xchrom]

4. oh what a beautiful morning, oh what a beatiful day

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


complete w/ hugh jackman

[Demeter]

5. Here too

The temp and humidity are ideal and it's sunny.

I'm having a crazy day. maybe see you all later...

[xchrom]

7. just have a good one!

:hi:

[Demeter]

6. Was that a flash crash in the Yen?

Very suspicious...

[Po_d Mainiac]

10. u got it backasswards

that's the U$D/JPY chart

A 100bps move like that musta left some trading desks covered in what was once a meal.

[Po_d Mainiac]

39. Might be where we end up as the chairsatan is now on the record

before CONgress that he ain't done fucking the FRN (and anyone with a savings account) :grr:

[xchrom]

9. Big Turnaround for Colville Tribal Enterprises

http://indiancountrytodaymedianetwork.com/2011/06/big-turnaround-for-colville-tribal-enterprises/

The Confederated Tribes of the Colville Reservation have seen a $10 million economic turnaround in a year since reorganizing their business operations and cutting expenses, including jobs.

When Joe Pakootas, a Colville tribal member, was brought in to head up the tribal business enterprises in January of last year, the Colville Tribal Enterprise Corp. (CTEC) was “close to bankruptcy,” he told Indian Country Today Media Network.

The CTEC was a mix of profitable and unprofitable businesses, with the unprofitable ones threatening to bring the profitable ones down at the Coulee Dam, Washington-based operation. A judgment against the mills, for instance, could make all the businesses liable, he said. So the tribe effected what might be called on Wall Street a “good bank/bad bank” reorganization.

The profitable businesses, about a dozen, were put into a new venture, the Colville Tribal Federal Corp. The bad businesses, two mills and a house boat operation, stayed in the CTEC.




***just something different from the usual.

[xchrom]

11. Netflix raising prices as much as 60%

http://www.latimes.com/business/la-fi-ct-netflix-20110713,0,4419525.story

Netflix, Inc., America's largest video subscription service, is hiking prices as much as 60% in a move that has sparked outrage among its customers but brought smiles to Hollywood studio executives.

The service will no longer offer a $9.99 plan that lets users watch an unlimited number of movies online and rent one DVD at a time. Instead, subscribers who want that combination will have to pay a total of $15.98 a month — $7.99 for Netflix Instant streaming and $7.99 to receive discs in the mail.

The changes take effect immediately for new customers and in September for existing ones. Tony Wible, an analyst with Janney Capital Markets, estimated that 80% of Netflix's 22.8 million U.S. subscribers currently use a DVD/streaming combination plan and will be affected by the price hike. The company launched a $7.99 streaming-only plan late last year.

Reactions to Netflix's biggest-ever price increase were swift and overwhelmingly negative. More than 10,000 people had responded to the news on Netflix's Facebook page by late Tuesday, nearly all of them critical.

[Fuddnik]

14. I'll respond before Sept. 1, when I cancel their service.

[DemReadingDU]

16. seems to be a typical response of people

So why would Netflix change their pricing policy and lose customers? Surely they must have concluded many people would cancel.
:eyes:

[zogofzorkon]

31. With the robust economy they figured most people wouldn't even notice.

The increased prices of food gas and oil hasn't kept people from eating, driving or heating, have they?

[Po_d Mainiac]

38. ...

:spray:

[Warpy]

42. People just got used to that unrealistic teaser rate

and those teaser rates just don't last forever. Netflix has bills to pay, too, and I imagine a lot of their streaming costs are going up due to pressure from cable and satellite providers.

Folks, eight bucks a month is really nothing compared to fees from cable. An additional eight bucks a month is nothing compared to what rental stores used to charge. Nobody likes to see the bills go up, but this is chump change.

People are jerking their knees now, but I sincerely doubt Netflix will lose any customers.

However, this is also likely the first of many price hikes that will eventually make net content almost as expensive as broadcast content.

[Fuddnik]

44. You add that on to my provider getting ready to meter internet usage.

I'm trying to figure out a way to get rid of my provider completely. Metered internet, which means more money to stream stuff from Netflix. And 8 dollars a month, whether I order dvd's or not.

It sucks.

[Warpy]

47. DSL doesn't seem to be like that.

It's also a little more secure than cable.

If you're stuck with satellite, you're stuck, though.

[xchrom]

12. Amazon sales tax battle centers on jobs

http://www.latimes.com/business/la-fi-amazon-war-20110713,0,2902994.story

Reporting from Los Angeles and Sacramento—
A looming California electoral battle pitting powerful Internet retailer Amazon.com against the nation's largest chain stores is expected to be fought on the issue of jobs — with each side saying its position is better for the state's struggling economy.

Officially, the fight is over the sales tax and Amazon's refusal to collect it under a new California law that requires the Seattle company and other Internet-only retailers to do so as long as they have operations in the state.

The company said Monday that it would seek to qualify a referendum for the state ballot that would allow voters to overturn the new law.

But beneath the sales tax dispute is an escalating rivalry between Amazon and bricks-and-mortar retailers, which have seen an increasing portion of their sales go to the Internet.

[xchrom]

13. asia: China's crisis will come

http://www.atimes.com/atimes/China_Business/MG14Cb01.html

These days it is nearly impossible to pick up a newspaper or periodical without finding numerous articles on China and its seemingly invincible growth. Many of these pieces, in particular those that seem laced throughout with equal parts frustration and fear over China's having bested America, predict nothing but linear growth for China's economy, the country's inevitable regional dominance, and its likely global challenge to the US's currently strained hegemony.

Americans should know better than to accept this vision of China's future as inevitable; after all, similar linear projections were at play in justifying an exuberant American housing market, unreasonable equity valuations, and the levels of debt that the US economy could handle.

Each now obviously smacked of hubris and, while obvious in


hindsight, concerns over these were deeply buried in the minds of those who were debtors within, and creditors outside of, the nation's economy. And now, with the newly formed scars from America's economic collapse still forming, the same miscalculation seems to be pervading our understanding of China's future.

For some this misunderstanding is deliberate: long-time critics of China's authoritarian political system and those who believe Beijing has been allowed to cut corners in order to draw its once fragile economy into the 21st century at the expense of American jobs are just two of the more obvious camps. But for the majority of people now concerned about China's rise, this misunderstanding has been formed through simple comparison and contrast: China's economy today stands robust while the US economy resides on increasingly shaky ground.

[xchrom]

19. China's economic growth eases amid rate hikes

http://hosted.ap.org/dynamic/stories/A/AS_CHINA_ECONOMY?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2011-07-13-07-32-54

BEIJING (AP) -- China's rapid economic growth slowed in the latest quarter to a still robust 9.5 percent, easing fears of an abrupt slowdown and giving Beijing room to tighten controls to fight surging inflation.

Growth slowed from 9.7 percent in the January-March quarter following repeated interest rate hikes and other controls, data showed Wednesday. Factory output rebounded and retail sales grew by double digits.

While the United States and Europe try to shore up sluggish growth, Beijing wants to steer its breakneck expansion to a more manageable level and cool inflation that soared to a three-year high of 6.4 percent in June.

"The strength of the economy will make them confident and well prepared to impose more tightening measures if needed," said Frances Cheung, a senior strategist for Credit Agricole CIB in Hong Kong.

[xchrom]

15. QE2's disappearing act

http://www.atimes.com/atimes/Global_Economy/MG14Dj01.html

The Federal Reserve's "QE2" ended with a whimper on June 30. The Fed's second round of "quantitative easing" involved US$600 billion created with a computer keystroke for the purchase of long-term government bonds. But the government never actually got the money, which went straight into the reserve accounts of banks, where it still sits today. Worse, it went into the reserve accounts of foreign banks, on which the Federal Reserve is now paying 0.25% interest.

Before QE2 there was QE1, in which the Fed bought $1.25 trillion in mortgage-backed securities from the banks. This money too remains in bank reserve accounts collecting interest and dust. The Fed reports that the accumulated excess reserves of


depository institutions now total nearly $1.6 trillion.

Interestingly, $1.6 trillion is also the size of the federal deficit - a deficit so large that some members of congress are threatening to force a default on the national debt if it isn't corrected soon.

So here we have the anomalous situation of a $1.6 trillion hole in the federal budget, and $1.6 trillion created by the Fed that is now sitting idle in bank reserve accounts. If the intent of "quantitative easing" was to stimulate the economy, it might have worked better if the money earmarked for the purchase of Treasuries had been delivered directly to the Treasury. That was actually how it was done before 1935, when the law was changed to require private bond dealers to be cut into the deal.

[maddogesq]

41. And now the Bernank says they may do QE3.

And I ain't talking about another ship call Queen Liz.

http://www.cnbc.com/id/43739458

[xchrom]

17. europe: 'The Euro Zone Has Been Inviting Speculation'

http://www.spiegel.de/international/europe/0,1518,774207,00.html

The euro crisis appears to have entered a turbulent new phase, as the European Union hesitates on approving a second bailout for Greece and the risk of contagion seems ever larger.

Italy has slid into speculators' crosshairs this week amid fears that its debt mountain, equivalent to 120 percent of its gross domestic product, has grown too big to handle. Observers say the country -- the third-largest economy in the euro zone -- is too big to be bailed out. On top of that, the rating agency Moody's has now downgraded Ireland's debt to junk status, following its downgrade of Portugal last week.

It seems that the time has come for decisive action on the part of Europe's leaders. But precisely that is missing, as EU leaders prevaricate on passing a second rescue package for Greece. A meeting of the Euro Group of euro-zone finance ministers on Monday failed to produce much in the way of concrete results.

The markets are reacting nervously to the uncertainty. The euro fell to its lowest level against the dollar in four months, and Italian stocks have taken a beating. The country's main share index fell by as much as 4 percent on Tuesday before recovering.




***the euro zone like the u.s. is chock-a-block full of neo-liberal thinkers.
speculation & protecting the speculators is part of that.
more time should be spent on what these jerks are taught in universities.

[Karenina]

21. Who will finally bust the ratings agencies?

:shrug:

[xchrom]

24. south asia: India Shares End Higher

http://online.wsj.com/article/SB10001424052702303406104576443610357249354.html?ru=MKTW&mod=MKTW

MUMBAI—Indian shares rose in light trading, in line with other Asian markets, as investors hunted for bargains following three consecutive days of losses.

The Bombay Stock Exchange's Sensitive Index rose 184.40 points, or 1%, to 18596.02, after having fallen 3.5% over the previous three sessions. Of the 30 Sensex constituents, 26 ended higher on Wednesday. On the National Stock Exchange, the 50-stock S&P CNX Nifty rose 59.30 points, or 1.1%, at 5585.45.

Volume on the BSE fell to 25.65 billion rupees ($577.8 million) from Tuesday's 28.43 billion rupees. Advancers outnumbered decliners, 1,859 to 1,012, with 139 stocks unchanged.

After sharp losses Tuesday due to concerns about Europe's debt crisis, Asian markets regained some ground following upbeat gross domestic product and industrial output data from China. Hong Kong's Hang Seng rose 1.2%, while China's Shanghai Composite gained 1.5%.

[plumbob]

26. Somebody needs to. We also need to outlaw derivative trading of any

kind and do away with naked trades in commodities.

We'll be able to find the guilty parties easily after that - they'll be the ones who shit themselves completely.

[xchrom]

33. Age of austerity to continue for decades, warns OBR

http://www.guardian.co.uk/business/2011/jul/13/age-austerity-continue-decades-obr

Britain must brace itself for decades of austerity even after George Osborne's spending squeeze, to pay the price for an ageing population, the independent Office for Budget Responsibility (OBR) warned on Wednesday.

The OBR, set up by the chancellor to produce independent projections of the public finances, says the rising cost of healthcare and pensions, and declining tax revenues from the North Sea, will mean future governments have to take action to prevent debt levels rising inexorably.

Without fresh tax rises or spending cuts, the OBR says, the government's debt will hit a trough of 60% in the mid 2020s, compared with less than 70% now, before rising rapidly to hit 107% of GDP by 2060-61. Although the deterioration in the public finances is more than a decade away, the OBR urges politicians to make long-term decisions now, to prevent the economy drifting into a debt crisis as the population ages.

"Policymakers and would-be policymakers should certainly think carefully about the long-term consequences of any policies they introduce in the short term. And they should give thought too to the difficult choices that will confront this country once the challenge of the current consolidation has passed," the study says.

[Po_d Mainiac]

36. Not so much bust them

But hold them accountable.

Impartial and accurate rating of risk is a nessesity. Problems arrise when the issuing party is the one paying for the rating. Any idiot should see this is more than a 'conflict of interest' It's more like legal bribary

Congress critters exempted the major rating agencies from liability. A couple successful class action suits, by swindled investors, under the RICO statutes wood put an end to the bullshit.
YMMV

[xchrom]

22. Markets recover from European debt jitters

http://hosted.ap.org/dynamic/stories/W/WORLD_MARKETS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2011-07-13-08-02-55

LONDON (AP) -- World stocks rose on Wednesday as robust Chinese growth figures helped steady investor sentiment, which had been shaken this week by fears Europe's debt crisis was spreading to large countries like Italy.

Data out of China showed that its economy grew by 9.5 percent in the April-June quarter. Although that is lower than the previous quarter's 9.7 percent growth rate, it alleviates concerns of an abrupt slowdown and gives Beijing room to tighten controls to fight inflation.

The government has been trying to tame the world's No. 2 economy, where inflation hit a three-year high in June. Beijing has hiked interest rates five times since October and tightened controls on lending and investment.

"Today's data should dampen fears that the economy is heading into a hard landing," said Mark Williams, senior China economist at Capital Economics.

[xchrom]

28. Italy to bolster austerity plan, speed up approval

http://hosted.ap.org/dynamic/stories/E/EU_ITALY_FINANCIAL_CRISIS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2011-07-13-07-57-09

MILAN (AP) -- Italy will strengthen its package of austerity measures and get it through parliament by Friday, finance minister Giulio Tremonti pledged Wednesday as he sought to calm market fears that the eurozone's third-largest economy would be swept into the European debt crisis.

Italian lawmakers were working to bolster the euro48 billion ($67 billion) in austerity measures that begin to take effect this year and aim to balance the budget by 2014. The Senate is set to vote on Thursday before passing off to the lower house.

"The decree to balance the budget will be reinforced for the entire four-year period, and will be approved by Friday," Tremonti told a banker's association.

While Tremonti's remarks were clearly aimed at further reassuring financial markets that Italy was serious about its duty to reduce debt, Tremonti also said market losses in recent days were not a problem "of a single country but of the structure of Europe."

[xchrom]

30. Zapatero laments German input in deepening euro-zone debt crisis

http://www.elpais.com/articulo/english/Zapatero/laments/German/input/in/deepening/euro-zone/debt/crisis/elpepueng/20110712elpeng_12/Ten

Spanish Prime Minister José Luis Rodríguez Zapatero on Tuesday indirectly pointed the finger at Germany for sparking the latest bout of turbulence in the sovereign debt market by broaching the idea of private investors shouldering some of the burden in a second bailout for Greece

n order to restore calm to the markets, "all of the countries in the euro zone have to accept responsibility, particularly the most powerful countries," Zapatero said at a joint news conference in Madrid with the visiting European Union President Herman van Rompuy.

Spain's risk premium hit a new euro-era high of over 375 basis points early on Tuesday before recovering to close at 314 points, down from Monday's closing level of around 335 basis points. That was still well above levels of around 150 basis points seen in July of last year.

The blue-chip Ibex 35 ended the session down 0.69 percent at 9,603.40 points after at one point having lost some four percent. The banks led the recovery, with most of them closing in positive territory as Santander put on 0.22 percent and BBVA 0.72 percent.

[xchrom]

34. UK unemployment numbers fall but jobless rate stuck at 7.7%

http://www.guardian.co.uk/business/2011/jul/13/unemployment-falls-but-jobless-rate-unchanged

Britain's labour market is treading water as the economy loses momentum, with unemployment declining by a modest 26,000 over the past three months, according to the latest official figures.

Unemployment on the International Labour Organisation measure preferred by the government fell by 26,000 to 2.45 million in the three months to June, according to the Office for National Statistics.

The unemployment rate stood at 7.7% of the workforce, unchanged from the previous three months.

The more timely claimant count measure showed a 24,500 increase between May and June – the largest rise for more than two years. The number of people claiming out-of-work benefits reached 1.52 million — though the numbers may have been boosted by the government's efforts to shift single parents and sickness benefit claimants back into the workforce.

[xchrom]

35. 'Significant' rise in numbers of over-50s in workforce

http://www.guardian.co.uk/money/2011/jul/13/rise-numbers-over-50s-workforce

The proportion of workers aged over 50 has risen significantly over the last 20 years, according to a new analysis by the TUC.

The report – published to coincide with the release of the latest government unemployment figures – found that the jobs market has changed significantly for older workers since 1992, when 56.5% of people aged between 50 and 64 were in work. By December 2010, 64.9% of the same age group were working, an increase of 8.4%.

Over the same period, the proportion of those aged over 64 in the working population rose from 5.5% to 9%.

The TUC general secretary, Brendan Barber, said older people bring a wealth of skills and experience to the workplace. "The increasing number of over-65s in work shows that older workers are highly valued and that the government is absolutely right to scrap the default retirement age," he said.

[xchrom]

18. Debt talks grind on, clock ticks toward default

http://hosted.ap.org/dynamic/stories/U/US_DEBT_SHOWDOWN?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2011-07-13-06-50-42

WASHINGTON (AP) -- Budget talks between President Barack Obama and his GOP rivals are at a frustrating standstill, leading a top Republican to launch a long-shot proposal to give Obama sweeping new powers to muscle through an increase in the government's debt limit without the approval of a bitterly divided Congress.

Lawmakers return to the White House for another negotiating session Wednesday. A two-hour session Tuesday produced no progress after a day of poisonous exchanges between Democrats and Republicans.

Saying he didn't see a path to an agreement so long as Democrats insist on revenue increases, Senate GOP leader Mitch McConnell of Kentucky offered a backup plan that would, in effect, guarantee Obama requests for new government borrowing authority unless Congress musters veto-proof majorities to deny him.

McConnell's plan immediately ran into stiff opposition among tea party conservatives and seemed unlikely to pass the House, but neither the White House nor House Speaker John Boehner, R-Ohio, dismissed it out of hand.

[xchrom]

20. AP Exclusive: Nike faces new worker abuse claims

http://hosted.ap.org/dynamic/stories/A/AS_INDONESIA_NIKE?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2011-07-13-07-57-47

SUKABUMI, Indonesia (AP) -- Workers making Converse sneakers in Indonesia say supervisors throw shoes at them, slap them in the face and call them dogs and pigs. Nike, the brand's owner, admits that such abuse has occurred among the contractors that make its hip high-tops but says there was little it could do to stop it.

Dozens of workers interviewed by The Associated Press and a document released by Nike show that the footwear and athletic apparel giant has far to go to meet the standards it set for itself a decade ago to end its reliance on sweatshop labor.

That does not appear to explain abuses that workers allege at the Pou Chen Group factory in Sukabumi, some 100 kilometers (60 miles) from Jakarta - it didn't start making Converse products until four years after Nike bought Converse. One worker there said she was kicked by a supervisor last year after making a mistake while cutting rubber for soles.

"We're powerless," said the woman, who like several others interviewed spoke on condition of anonymity out of fear of reprisals. "Our only choice is to stay and suffer, or speak out and be fired."

[TalkingDog]

23. Futures so Bright, I gotta wear:

[zogofzorkon]

32. I'm a fan of the wide wide river. It never stops flowing.

<http://www.altalyrics.com/lyr/565797-76683/Wide,-Wide-River>

[Po_d Mainiac]

37. And they are tick proof! n/t

[bread_and_roses]

25. explaining the economy in three minutes

not bad - from Change to Win
http://www.youtube.com/watch?v=_pje5l7KZDw&sns=fb

[reformist2]

40. Very good!

[xchrom]

27. Murdoch drops bid to buy British Sky Broadcasting

http://hosted.ap.org/dynamic/stories/E/EU_BRITAIN_PHONE_HACKING?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2011-07-13-09-42-35

LONDON (AP) -- Rupert Murdoch's News Corp. media empire dropped its bid to takeover lucrative British Sky Broadcasting on Wednesday ahead of a House of Commons vote in which all three major parties were to issue that very demand.

News Corp. deputy chairman and president Chase Carey said "it has become clear that it is too difficult to progress in this climate."

Prime Minister David Cameron acknowledged that "a firestorm" was engulfing Britain's press, police and government over allegations of phone hacking and alleged police bribery by Murdoch's U.K. papers, and named a judge to lead the investigation.

The hacking allegations even leapt across the Atlantic. Speaking hours before the vote, Cameron vowed to find out whether U.K. media may have sought phone numbers of 9/11 victims in their quest for sensational scoops.

[Festivito]

29. Debt: 07/11/2011 14,342,977,065,892.73 (DOWN 33,644,644.85) (Mon, DOWN some.)

(OVER the old debt limit of 14.294-trillion dollars by 49-billion dollars. Good day.)
Death for yesterday, death for today, and someone wanting to disappear in a day or two or none or so, I don't know.
(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)
= 9,744,962,661,098.09 + 4,598,014,404,794.64
DOWN 4,122,303,723.36 + UP 4,088,659,078.51

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 $3.20 THAT'S 1B$, and $3,200.78 makes 1T$.
A family of three: Mom, Dad, Child: $9.60, ABOUT TEN BUCKS for a 1B$ 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 312,423,392 people in America.
http://www.census.gov/population/www/popclockus.html ON 10/04/2010 04:37 -> 310,403,677
Currently, each of these Americans owe $45,908.78.
A family of three owes $137,726.34. (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 -86,798,222.96.
The average for the last 30 days would be -54,972,207.87.
The average for the last 31 days would be -53,198,910.85.
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$/day.
There were 191 reports in 284 days of FY2011 averaging 4.09B$ per report, 2.75B$/day.
Above line should be okay

PROJECTION:
There are 559 days remaining in this Obama 1st term.
By that time the debt could be between 14.3 and 17.2T$.
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)
07/11/2011 14,342,977,065,892.73 BHO (UP 3,716,100,016,979.65 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 +0,781,354,035,001.00 ------------* * * * * * * * * * * * * * * * * * * BHO
Endof11 +1,004,205,009,772.41 ------------* * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
06/16/2011 -004,915,287,264.64 --
06/17/2011 -003,280,766,773.26 --
06/20/2011 -001,398,167,502.39 -- Mon
06/21/2011 -005,323,373,908.56 --
06/22/2011 +008,838,427,845.80 ------------*********
06/23/2011 -003,583,724,883.29 --
06/24/2011 +001,084,698,810.36 ------------*********
06/27/2011 -002,470,523,317.36 -- Mon
06/28/2011 -005,425,153,798.63 --
06/29/2011 +007,017,747,779.06 ------------*********
06/30/2011 +003,977,538,029.63 ------------*********
07/06/2011 +006,618,560,773.63 ------------********* Wed
07/07/2011 +001,077,509,146.64 ------------*********
07/08/2011 -000,834,469,945.40 ---
07/11/2011 -004,122,303,723.36 -- Mon

-2,739,288,731.77 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=4916250&mesg_id=4917793

[Festivito]

48. Debt: 07/12/2011 14,342,965,850,128.20 (DOWN 11,215,764.53) (Tue, DOWN some.)

(OVER the old debt limit of 14.294-trillion dollars by 49-billion dollars. Good day.)
Pizza and pasta wake with cookies and cake.
(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)
= 9,741,328,212,172.62 + 4,601,637,637,955.58
DOWN 3,634,448,925.47 + UP 3,623,233,160.94

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 $3.20 THAT'S 1B$, and $3,200.71 makes 1T$.
A family of three: Mom, Dad, Child: $9.60, ABOUT TEN BUCKS for a 1B$ 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 312,430,592 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 $45,907.69.
A family of three owes $137,723.06. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 20 reports in the last 30 to 32 days.
The average for the last 20 reports is -83,019,100.04.
The average for the last 30 days would be -55,346,066.69.
The average for the last 32 days would be -51,886,937.52.
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$/day.
There were 192 reports in 285 days of FY2011 averaging 4.07B$ per report, 2.74B$/day.
Above line should be okay

PROJECTION:
There are 558 days remaining in this Obama 1st term.
By that time the debt could be between 14.3 and 17.2T$.
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)
07/12/2011 14,342,965,850,128.20 BHO (UP 3,716,088,801,215.12 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 +0,781,342,819,236.50 ------------* * * * * * * * * * * * * * * * * * * BHO
Endof11 +1,000,667,119,373.06 ------------* * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
06/17/2011 -003,280,766,773.26 --
06/20/2011 -001,398,167,502.39 -- Mon
06/21/2011 -005,323,373,908.56 --
06/22/2011 +008,838,427,845.80 ------------*********
06/23/2011 -003,583,724,883.29 --
06/24/2011 +001,084,698,810.36 ------------*********
06/27/2011 -002,470,523,317.36 -- Mon
06/28/2011 -005,425,153,798.63 --
06/29/2011 +007,017,747,779.06 ------------*********
06/30/2011 +003,977,538,029.63 ------------*********
07/06/2011 +006,618,560,773.63 ------------********* Wed
07/07/2011 +001,077,509,146.64 ------------*********
07/08/2011 -000,834,469,945.40 ---
07/11/2011 -004,122,303,723.36 -- Mon
07/12/2011 -003,634,448,925.47 --

-1,458,450,392.60 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=4917842&mesg_id=4917991

[TalkingDog]

43. US Default Inevitable: Fund Manager

http://www.cnbc.com/id/43721270

A U.S. default isn't a matter of "if" but "when," David Murrin, chief investment officer at Emergent Asset Management, told CNBC.

"It's inevitable that the U.S. will default—it's essentially an empire which is overextended and in decline—and that its financial system will go with it," he said.

The question is: Does the U.S. default when it is forced to by the outside world, probably the Chinese, or does it take the option to default on its own terms in such a way that it may have a strategic advantage, Murrin said.




Of course, he is selling a book, so.....

[plumbob]

49. Bet he's shorted Treasury bonds, too, like that traitor Cantor.

Well, we'll see who looks smart very soon.

[Roland99]

45. (Orlando) Supply of home listings shrinks

http://www.orlandosentinel.com/business/os-orlando-home-prices-20110713,0,5940878.story

Orlando's inventory of houses listed for sale is the smallest its been December 2005, according to a report released today by Orlando Regional Realtors Association.

Median prices for single-family homes remained flat at $110,000 from May to June, as the amount of distress sales diminished for the fifth consecutive month, based on association member sales. Compared to a year earlier, prices were down more than 4 percent.

A healthy real estate market, one that is balanced between buyers and sellers, usually has a six-month inventory of houses listed for sale. The Orlando area, mostly Orange and Seminole counties, had a 4.37 inventory for June. Inventory is down 35 percent from June 2010.

...

With 10,559 single-family homes listed for sale in Orlando at the end of June, the number of homes on the market declined by 410 from May to June.

[Hotler]

46. kicking n/t