STOCK MARKET WATCH, Friday, July 29, 2011

[Pale Blue Dot]

Source: du

STOCK MARKET WATCH, Friday, July 29, 2011

AT THE CLOSING BELL ON July 28, 2011

Dow 12,240.11 -62.44 (-0.51%)
Nasdaq 2,766.25 +1.46 (+0.05%)
S&P 500 1,300.67 -4.22 (-0.32%)
10-Yr Bond... 2.91 -0.04 (-1.19%)
30-Year Bond 4.22 -0.04 (-0.85%)

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Market Conditions During Trading Hours

Euro, Yen, Loonie, Silver and Gold

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

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

Financial Sector Officials Convicted since 1/20/09 = 12

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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 - GDP

Jul 29 08:30 GDP-Adv. Q2 2.1% 1.7% 1.9%
Jul 29 08:30 GDP Deflator Q2 1.8% 2.0% 2.0%
Jul 29 08:30 Employment Cost Index Q2 0.5% 0.5% 0.6%
Jul 29 09:45 Chicago PMI Jul 56.0 58.0 61.1
Jul 29 09:55 Michigan Sentiment - Final Jul 62.5 63.8 63.8

Read more: http://www.briefing.com/investor/calendars/economic/2011/07/25-29/#ixzz1TUYXtw97

[Pale Blue Dot]

9. Look out below! U.S. GDP up 1.3% in second quarter from weak Q1 (revised to .4%!)

WASHINGTON (MarketWatch) - Gross domestic product expanded at a 1.3% annual rate in the second quarter, the Commerce Department said, after a downwardly revised 0.4% gain in the January-March quarter. Economists had forecast GDP growing at a 1.6% rate in the second quarter from a previously estimated 1.9% rate in the first quarter. This was the weakest six months period since the recovery began in the second quarter of 2009. Growth in the second quarter was held down by weak consumer spending, which only expanded at a 0.1% rate. State and local government spending was also weak in the quarter. Inflation, as measured by the core personal consumption expenditure index, rose 2.1% in the second quarter, the fastest pace since the fourth quarter of 2009.

http://www.marketwatch.com/story/us-gdp-up-13-in-second-quarter-from-weak-q1-2011-07-29?link=MW_story_latest_news

[Demeter]

12. Truth WILL Out!

Shakespeare, Merchant of Venice

[Po_d Mainiac]

29. Hmm what's the term

For stagnant GDP coupled with rising prices?

Now I got it!

We're fucked just like 30 years ago. Only in the late seventies we didn't have a runaway debt (private and public) train running off the tracks.

[Demeter]

44. There was an awful lot of corporate debt, though

All those Conglomerates built on borrowed money...

[Pale Blue Dot]

2. Oil below $97 as US debt limit deadline nears

SINGAPORE – Oil prices fell below $97 a barrel Friday in Asia as U.S. leaders failed to agree to lift the government debt limit just days from a deadline, leaving investors to mull worst-case scenarios if a default occurs.

Benchmark oil for September delivery was down 62 cents to $96.82 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. Crude rose 4 cents to settle at $97.44 on Thursday.

In London, Brent crude rose 10 cents to $117.46 per barrel on the ICE Futures exchange.

Investors are closely watching negotiations among U.S. lawmakers ahead of Aug. 2, when the government will run out of money to pay its obligations unless its $14.3 trillion debt limit is raised.

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

[FarCenter]

24. Oil at $117 in most of US

The $97 / barrel price for West Texas Intermediate is relevant only for midwest refineries. It is priced at Cushing, Oklahoma and there is a glut of Canadian oil being piped there that cannot be piped to the coast. It is landlocked, midwest oil.

East, west and gulf coast refineries pay prices similar to Brent, which is a better benchmark for global, seaborne oil.

[hamerfan]

51. Semi-cheap oil,

the ONLY redeeming quality of living in the Midwest flatland flyover country.

[Pale Blue Dot]

3. U.S. S&P 500 Futures Retreat as Republicans Postpone House Debt-Limit Vote

U.S. stock-index futures fell after the House of Representatives postponed a vote to increase the nation’s debt limit, boosting concern that lawmakers are far from an agreement to avoid default.

Motorola Mobility Holdings Inc., the handset maker spun off in January from parent Motorola Inc., dropped 4.3 percent as it forecast profit that missed analysts’ estimates. Columbia Sportswear Co. (COLM) slid 1.7 percent after reporting a loss for the second quarter.

Futures on the Standard & Poor’s 500 Index expiring in September lost 0.4 percent to 1,291.8 at 6:30 a.m. in New York. Futures on the Dow Jones Industrial Average slipped 58 points, or 0.5 percent, to 12,135.

“Top of my mind, no doubt, is the potential default by the U.S.,” Thomas Lee, an equity strategist at JPMorgan Chase & Co., wrote in a report. “It is a challenging time for equities. Since a default is impossible to discount in asset prices, investors are naturally derisking.”

http://www.bloomberg.com/news/2011-07-29/u-s-s-p-500-futures-retreat-as-mccarthy-says-no-vote-on-debt-plan-tonight.html

[Ghost Dog]

4. Morning Snapshot

Asian Markets Mostly Trade Lower

CANBERA (dpa-AFX) - Asian stock markets are mostly trading weak on Friday with investors treading cautiously and indulging in some selling amid lingering worries about the impact of U.S. debt woes on the global economy. Some of the markets in the region rebounded after a weak start, but faltered again due to lack of support.

After an early upmove and a subsequent fall, the Australian stock market recovered some lost ground only to decline sharply due to heavy selling at several blue chip counters.

...

After a weak start and a subsequent rebound, the Japanese stock market faltered again on Friday with investors treading cautiously amid concerns about the impasse in the U.S. debt limit issue.

...

Among other markets in the Asia-Pacific region, Hong Kong, Taiwan and Malaysia are down with notable losses. Shanghai, Singapore and South Korea are also trading weak, while Indonesia and New Zealand are trading in positive territory with modest gains. Markets across the region ended mostly lower on Thursday.

/... http://www.finanznachrichten.de/nachrichten-2011-07/20927614-asian-markets-mostly-trade-lower-020.htm


Euro feels the heat

SYDNEY | Fri Jul 29, 2011 12:59am BST (Reuters) - The euro stayed under pressure in Asia on Friday as worries about the euro zone debt crisis flared up following a jump in Italy's borrowing costs, while investors also kept the dollar at arm's length amid the ongoing threat of a U.S. debt default.

Political rancor on how to tame the mountain of U.S. debt continued without signs of a major breakthrough yet, keeping markets on edge about a possible U.S. default or a credit downgrade.

Worries the U.S. government could soon run out of cash were apparent in money markets, with rates soaring on Treasury bills due shortly after the August 2 deadline to raise the debt limit.

Still, market participants appeared to be hoping that some sort of compromise may yet be struck at the eleventh hour, said Samarjit Shankar, managing director of global FX strategy at BNY Mellon.

/... http://uk.reuters.com/article/2011/07/28/businesspro-us-markets-forex-idUKTRE74U02L20110728

Europe stocks sink on U.S. debt talks deadlock

PARIS, July 29 | Fri Jul 29, 2011 3:10am EDT (Reuters) - European stocks fell sharply early on Friday, extending their week-long slide as U.S. lawmakers failed to break a deadlock over raising the debt ceiling, fuelling fears of a default by the world's biggest economy.

Investors' risk appetite was also dampened after a string of disappointing corporate results and as Moody's placed Spain on review for a possible downgrade, citing weak growth and funding pressures.

At 0707 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was down 1.2 percent at 1,076.61 points. The benchmark index has lost nearly 3 percent so far this week.

Spain's IBEX 35 .IBEX dropped 1.4 percent, with Banco Santander (SAN.MC) down 2.2 percent and BBVA (BBVA.MC) down 2.3 percent.

"We're getting a lot of totally unexpected profit warnings from companies that were seen solid, and the market shows no mercy," Kepler Capital Markets trader Patrice Perois said.

/... http://www.reuters.com/article/2011/07/29/markets-europe-stocks-open-idUSL6E7IT05K20110729?feedType=RSS&feedName=hotStocksNews&rpc=43

[Ghost Dog]

5. Did S&P flip flop on US debt target?

... If S&P wants to change its stance, it should come out and say so. It would have plenty of reasons to keep the rating at AAA, while keeping the negative watch.

In the words of Alex Johnson, head of portfolio management at Fischer Francis Trees & Watts:

"The US dollar is a fiat currency. At heart, it represents a claim on the productive capacity of the U.S. economy. What does a rating even mean in the context of the United States?"

Quite. But because so many investment decisions are rules based and embedded into the financial system, markets have suffered considerable volatility and weakness because of the perception that a ratings cut was all but inevitable.

There is no liquid alternative to U.S. Treasuries, so their status in finance will continue - as will the benefits that brings to funding a massive budget deficit.

/... http://www.reuters.com/article/2011/07/28/ratings-ustreasuries-idUSL6E7IS0UM20110728

[Ghost Dog]

6. Special report: Goldman's new money machine: warehouses

(Reuters) - In a rundown patch of Detroit, enclosed by a cyclone fence and barbed wire, stands an unremarkable warehouse that investment bank Goldman Sachs has transformed into a money-making machine.

The derelict neighborhood off Michigan Avenue is a sharp contrast to Goldman's bustling skyscraper headquarters near Wall Street, but the two operations share one important element: management by the bank's savvy financial professionals.

A string of warehouses in Detroit, most of them operated by Goldman, has stockpiled more than a million tonnes of the industrial metal aluminum, about a quarter of global reported inventories.

Simply storing all that metal generates tens of millions of dollars in rental revenues for Goldman every year.

There's just one problem: only a trickle of the aluminum is leaving the depots, creating a supply pinch for manufacturers of everything from soft drink cans to aircraft.

/... http://www.reuters.com/article/2011/07/28/us-lme-warehousing-idUSTRE76R1O120110728


LME Aluminium Price since Jan 1st.:

http://www.lme.com/aluminium_graphs.asp

[Demeter]

14. Old news--I posted that months ago

doesn't hurt to keep an eye on them, either. They aren't doing so well under all the scrutiny...

[masmdu]

7. SP emini Overnite lows of 1283 may yet see 1278 then rebound up to 1330

Not trading advice

[masmdu]

23. Exactamund-o 1278.5 hit...now up

[Po_d Mainiac]

33. But also well within reach of 1250

And the next support is just a bit south of there
YMMV

[masmdu]

39. not until 1325-30 SP emini is reached. Then down from there.

[masmdu]

40. would like to see a turn up here @1293 (sp emini)

[Po_d Mainiac]

53. 1300 is looking more like a ceiling than a floor

[xchrom]

8. Morning! I'm babysitting today.

We shall have an impromptu fashion show today.

[Fuddnik]

10. Let me know when you take up dog sitting.

The only fashion accessories you'll need is swimwear.

[Po_d Mainiac]

27. gotta have some hair feathers too! n/t

[Tansy_Gold]

11. LOL -- and I'm not!!!

The BF took off last night for his semi-annual visit to family (inc. grandkids) so I have my house to myself and the four dogs, at least until next Tuesday when my daughter and #2 grandson arrive from NJ. Well, if planes are still flying then. . . . .


TG, who doesn't do "fashion" very well at all. . . . .

[Fuddnik]

17. If the airplanes are still flying then.

I saw the most blatant spin put on a story I've ever seen on CBS Nooz last night.

The reporter said the FAA shutdown is the result of a disagreement because Democrats want to make it easier for transportation workers (railroad, airline) to unionize and Republicans don't.

What utter bullshit.

The fact is, John Mica (R-FL) wants to ban unions in the transportation industry. Both industries are ALREADY heavily unionized, especially the railroads, for over 100 years.

[Demeter]

16. We went to the resale shop yesterday

I don't do retail unless there's no option. In a resale shop, people have sorted out the impossible stuff, and the styles are wearable. Sizing may be a problem...but persistence turns up a decent wardrobe.

[Fuddnik]

20. That's about the only place we buy cloths anymore.

I was running low on blue jeans about a month ago. My wife went to some thrift shops and found me 5 pairs, in new condition for what a new pair would have cost at K Mart.

She's found Bruno Maglia shoes for under $10 in perfect shape.

I told her to keep an eye out for a decent sleeping bag. Washington DC, Oct 6-?, here I come.

[DemReadingDU]

35. Aren't those the shoes

made famous by O.J. Simpson?



I have shopped at thrift stores for jeans too. I refuse to buy those trendy expensive things that are called jeans in the retail stores. But in the thrift stores, I have found several heavy fabric real jeans.

[Fuddnik]

47. Yep.

[PATRICK]

26. In place of boycotts or general strikes

In might be a great idea, the difficulty is propagating it, that all Americans buy resale, thrift goods, avoid as much foreign imports as possible, abandon certain items like cheap apple juice entirely to break the Chinese hold on that absurd import and diet by buying only local fresh foods. The goal is to plunge the foreign import trade to where it will go eventually anyhow while we still can fight back against our creditors here and abroad.

Broaden the practices that would cripple the spiral, including Koch products etc. This is for not only those who can't afford the goods anyway but those who still can.

Crazy idea that will not get the required millions of Americans needed for a successful shopper action. The effects on American based jobs is one part than might be mitigated just so long as the broad effect marches on. Most of our clothing and many of our factories are overseas. Let them wither while we sow the patches.

[Tansy_Gold]

28. It's really such a simple and sensible idea

but too many of our fellow citizens are incapable of grasping it. Everything has to be new, stylish, cheap, name-brand, "Look at me! Look at me! I'm wearing the latest and it makes me better than you!" until "you" gets something newer and better. . . . and shinier. . . . and a different color. .. ..

They buy what the ad men tell them to buy, never thinking about whether they need it or what harm it does to buy it. They do it because they can, and they don't understand they don't need to.


Tansy Gold, who will spend part of this blessedly alone week-end sewing her own clothes

[InkAddict]

36. Have you checked the price of patterns lately?

I tried to sew some clothes for the new grandbaby; patterns were between $8-$15 alone. Appropriate fabrics were equally expensive, let alone notions. Next idea: Dismantle off-the-rack garments and add seam allowancess?

[DemReadingDU]

38. I have saved all my old patterns

I refuse to spend $8-$15 for patterns today.

The rationale seems to be...why make it yourself with expensive pattern, fabric and time, when an outfit can be purchased much cheaper (unfortunately, cheaply made). But many people today don't care about quality, just buy it for inexpensive cuteness.

[Tansy_Gold]

46. JoAnn Fabrics (corporate zombie monster) has great pattern sales

I've saved most of my patterns over the years, too, and it's easy enough to customize by swapping sleeves, etc. Thrift stores and yard sales are also great sources for patterns. A few basics can easily be embellished.

Four or five years ago I picked up several patterns at JoAnn's when they were 5/$10 or something like that. I'd been looking for something to replicate some shirts I had bought years before and simply wore out. I found one of those 3-styles-in-one-package deals that was very similar to what I wanted. But when I got it home, I decided to try one of the other styles too. That one proved so easy, so comfortable, and so inexpensive, that since then I've made 25 shirts from that pattern. It takes less than a yard of fabric, and I have picked up many a remnant at JoAnn's for $2 or less.

Living frugally does require some effort. Yes, it does take time to make a shirt or skirt or dress from "scratch." Rather than considering it a "cost" of having home-made (well-made) and unique items of clothing, I prefer to call it an investment. If my time is worth $10 an hour and I spend an hour plus $2 in fabric to make a shirt, is the end product equal to what I'd have if I paid $12 in a store? No brainer.


TG, who just turned on the a/c in the studio/sewing room

[willing dwarf]

42. You have to wait for the sales!

About every six weeks, Vogue, McCall's & Butterick slash their prices for a few days. The great thing is you can add patterns to your cart (on line of course) in your free time, and then order them when they announce a sale. I only buy them when they are about $2.99 per pattern. Get on their email list and they bombard you with offers.

I agree though, full price patterns, plus full price fabric and the time it takes makes it more expensive to sew than to buy the sweatshop stuff.

I tell my husband that I sew for moral reasons. :) Haha.

[DemReadingDU]

37. I used to sew clothes all the time

especially skirts for when I was working. Now I spend time just mending rips and teas, and sewing buttons back on.
There really isn't anything trendy that I need or want to buy.

[bread_and_roses]

31. that's been my MO for years - but now I'm terrified of bedbugs...

...in our ongoing descent into 19th century unfettered Capitalism and it's inevitable "third-world"-ization of US, bedbugs have arrived in Upstate NY. Since I only wear natural fibers, drying at high heat for an hour (the only sure way I've read to kill them) - is hardly an option, since linen and woolens would, I think, turn into doll-sized clothes. Not to mention the energy consumption!

I don't know what I'm going to do - I tried buying two summer blouses at one of those "Outlet" type places - still ridiculous price for abysmal quality - these were shirts that cost well-upward of $40 ea. at "retail" - at least according to the tags (I know "they" also manufacture now for the Outlets, ho hum) - but the sleeves were badly set and the seams wrong and they look awful. At the thrift store - with diligent searching - I can find well-made clothing for a few $.

[FarCenter]

34. According to some extension service web sites, freezing should work

Seal the clothing in plastic bags before bringing it home.

Put it in the freezer for a month.

[kickysnana]

43. Glad to hear freezing works; It does not for deer ticks (disease carriers)

We had a support group member who lived in a wooded area near Taylors Falls MN and they shot a deer, gutted it but did not skin it and the weather turned immediately brutally cold where the temperature did not get above 0 for a week. They left the deer in the back of the pickup in a totally shaded garage for that week. They then skinned it partially thawed it ad butchered it and left the pelt in contractor bag until April. When they opened it up it was crawling with live ticks so they burned it. Ticks especially young ones can die from heat or lack of moisture which is why infection rates are higher in wooded, most areas than treeless plains.

They still have idiots trying to say they don't have Lyme Disease "in our area". If you have birds you probably have had borellia (Lyme is just one genotype) disease (and/or Tularemia, Babesiosis, Erlichiosis (new name now I forget what it is now), Brucelosis, cat scratch fever, microplasmosis and a few other goodies in your area starting by 1973. Migrating birds have been known to be carriers since 1983.

[Jon Ace]

13. Dow Futures down 120 (nt)

[Demeter]

15. Thanks and welcome

This is all part of the big squeeze, trying to get the sheep to panic over the cliff of "giving up" social security and medicare...

And the whole "debt ceiling" scheme is Little Timmeh's. He's the one insisting that it has to be raised and nothing else will do, or he won't send out payments.

Customer #1 for Madame La Guillotine.

[Fuddnik]

18. There is no future for the Dow.

[Demeter]

19. Weekend Preview

Join us as we belt out a chorus of "Nearer My God to Thee", rearrange the deck chairs, and order martinis with ice fresh off the berg on this Weekend Economist on the Editorial forum.

And thank you again, kickysana, for being the keeper of my wits. Are you available on a regular basis?

[Fuddnik]

21. We're going on a cruise Oct. 30th.

At least there's no icebergs in the Caribbean. But it is still hurricane season.

[Po_d Mainiac]

32. And free drinks? n/t

[Roland99]

22. EXCELLENT toon

[InkAddict]

25. This site looks promising as a Friday distraction.

http://levity.com/alchemy/


Have a great day and stay tuned for more soap on "As Boehner Weeps."

[Po_d Mainiac]

30. History on the PPT

http://www.washingtonpost.com/wp-srv/business/longterm/blackm/plunge.htm

[Demeter]

45. That article annoyed me no end

A free and unfettered market, indeed! Who are they to decide that they know better? Regulation would eliminate the need for all this wallpapering. No wonder everything is insane. The proposition that the PPT can prevent catastrophe, even if necessary, is absurd and hopeless and expensive.

[Hotler]

55. He ends the article with this??

"If the market declines more than 550 points in a day, no further restrictions would be applied."
Does that mean it's every man for himself, or for every 350 drop there is 30 min. time out followed by another hour after the next 200 and so on?

[Po_d Mainiac]

56. The market wood close

and everyone could go change outa their soiled big boy pants

[Festivito]

41. Debt: 07/27/2011 14,342,819,149,604.76 (DOWN 10,966,946.52) (Wed, UP a little.)

(OVER the old debt limit of 14.294-trillion dollars by 49-billion dollars. Good day.)
The Sage coffee house overlooking the lake with pie.
(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)
= 9,747,742,929,867.95 + 4,595,076,219,736.81
UP 470,569,863.89 + DOWN 481,536,810.41

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 313-Million person America.
If every American, man, woman and child puts in $3.20 THAT'S 1B$, and $3,199.60 makes 1T$.
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 312,538,592 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 $45,891.35.
A family of three owes $137,674.06. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 20 reports in the last 30 days.
The average for the last 20 reports is -81,889,428.47.
The average for the last 30 days would be -54,592,952.31.

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$/day.
There were 203 reports in 300 days of FY2011 averaging 3.85B$ per report, 2.60B$/day.
Above line should be okay

PROJECTION:
There are 543 days remaining in this Obama 1st term.
By that time the debt could be between 14.3 and 17.1T$.
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)
07/27/2011 14,342,819,149,604.76 BHO (UP 3,715,942,100,691.68 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 +0,781,196,118,713.00 ------------* * * * * * * * * * * * * * * * * * * BHO
Endof11 +0,950,455,277,767.48 ------------* * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
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 --
07/13/2011 +010,692,053,599.69 ------------**********
07/14/2011 -001,516,331,672.50 --
07/15/2011 +003,100,504,281.51 ------------*********
07/18/2011 +000,238,790,593.83 ------------******** Mon
07/19/2011 +000,061,099,321.97 ------------*******
07/20/2011 -000,246,591,087.61 ---
07/21/2011 -006,272,699,061.03 --
07/22/2011 +000,804,035,241.16 ------------********
07/25/2011 -000,991,970,057.94 --- Mon
07/26/2011 +000,075,256,672.36 ------------*******
07/27/2011 +000,470,569,863.89 ------------********

-1,098,995,752.26 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=4938980&mesg_id=4939140

[Festivito]

49. Debt: 07/28/2011 14,342,865,885,306.46 (UP 46,735,701.70) (Thu, UP some.)

(OVER the old debt limit of 14.294-trillion dollars by 49-billion dollars. Good day.)
About to head off to a different lake and look over it.
(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)
= 9,753,190,109,078.68 + 4,589,675,776,227.78
UP 5,447,179,210.73 + DOWN 5,400,443,509.03

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 313-Million person America.
If every American, man, woman and child puts in $3.20 THAT'S 1B$, and $3,199.53 makes 1T$.
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 312,545,792 people in America.
http://www.census.gov/population/www/popclockus.html ON 10/04/2010 04:37 -> 310,403,677
Currently, each of these Americans owe $45,890.45.
A family of three owes $137,671.34. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 20 reports in the last 30 days.
The average for the last 20 reports is -78,971,725.00.
The average for the last 30 days would be -52,647,816.66.

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$/day.
There were 204 reports in 301 days of FY2011 averaging 3.83B$ per report, 2.60B$/day.
Above line should be okay

PROJECTION:
There are 542 days remaining in this Obama 1st term.
By that time the debt could be between 14.3 and 17.1T$.
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)
07/28/2011 14,342,865,885,306.46 BHO (UP 3,715,988,836,393.38 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 +0,781,242,854,414.70 ------------* * * * * * * * * * * * * * * * * * * BHO
Endof11 +0,947,354,291,898.23 ------------* * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
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 --
07/13/2011 +010,692,053,599.69 ------------**********
07/14/2011 -001,516,331,672.50 --
07/15/2011 +003,100,504,281.51 ------------*********
07/18/2011 +000,238,790,593.83 ------------******** Mon
07/19/2011 +000,061,099,321.97 ------------*******
07/20/2011 -000,246,591,087.61 ---
07/21/2011 -006,272,699,061.03 --
07/22/2011 +000,804,035,241.16 ------------********
07/25/2011 -000,991,970,057.94 --- Mon
07/26/2011 +000,075,256,672.36 ------------*******
07/27/2011 +000,470,569,863.89 ------------********
07/28/2011 +005,447,179,210.73 ------------*********

3,270,674,311.83 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=4940502&mesg_id=4940897

[RUMMYisFROSTED]

48. ?

[tclambert]

52. Is that Lego man wearing a red Star Trek uniform?

Studies by the Federation Institute of Health found a high correlation between the wearing of red and untimely violent death.

[Po_d Mainiac]

54. Susan Collins wears red...a lot....fingers crossed...n/t

[Ghost Dog]

50. Dollar Extends Weekly Losses As Debt Deadline Looms

WASHINGTON (dpa-AFX) - The dollar was hammered on Friday, as a dreadful second quarter GDP report signaled that the U.S. has major problems beyond the debt ceiling crisis playing out in the nation's capital.

Record lows were reached against a number of counterparts, most notably the safe haven Swiss franc, and the dollar dropped toward an all-time low versus the yen set back in March.

The U.S. economy grew at a slower rate than expected in the second quarter, due in large part to sluggish consumer spending. In addition, revised statistics showed that first-quarter growth was slower than people had previously thought.

...

The buck slipped to a record low CHF 0.7876 versus the Swiss franc. Early losses took the buck to a 4-month low of Y77.03 versus the yen, near the March record low of Y76.30.

/... http://www.finanznachrichten.de/nachrichten-2011-07/20937080-dollar-extends-weekly-losses-as-debt-deadline-looms-020.htm

USDX last 10 days


http://www.fxstreet.com/rates-charts/usdollar-index/?version=0

Debt Uncertainty, Weak Economy Sends Gold To New Heights

WASHINGTON (dpa-AFX) - Gold hit record highs on Friday on demand for an investment heaven amid mounting concerns over the U.S. debt impasse. Friday morning's weaker than expected U.S. GDP report also added to the upside movement of gold.

Gold futures for December delivery added $15.00, to $1,631.20 on the Comex in New York. Earlier it rose to a new all time record high of $1,634.90 an ounce. The metal, up 8.1 percent in July, headed for the fourth straight weekly advance.

Focus was also on looming debt limit catastrophe as increasingly nervous traders and investors watch with uncertainty the approaching government's default deadline of August 2. Meanwhile Republican leaders clambered to rescue their budget deficit cutting plan after conservatives mounted a rebellion adding further chaos to the drama.

Ratings agencies Moody's, Standard & Poor's and Fitch's have threatened to cut the U.S.'s triple A rating rating in the event that a failure to raise the debt ceiling results in a default or the deal fails to take into account longer term spending and tax issues.

Downbeat economic data also added to gold's appeal. Gross domestic product in the U.S. rose less than expected in the last quarter, preliminary official data showed on Friday.

/... http://www.finanznachrichten.de/nachrichten-2011-07/20937487-debt-uncertainty-weak-economy-sends-gold-to-new-heights-020.htm