STOCK MARKET WATCH, Friday, September 9, 2011

[Pale Blue Dot]

Source: du

STOCK MARKET WATCH, Friday, September 9, 2011

AT THE CLOSING BELL ON September 8, 2011

Dow 11,295.81 -119.05 (-1.05%)
Nasdaq 2,529.14 -19.80 (-0.78%)
S&P 500 1,185.90 -12.72 (-1.07%)
10-Yr Bond... 1.99 +0.01 (+0.46%)
30-Year Bond 3.32 +0.01 (+0.30%)

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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 report

Sep 09 10:00 Wholesale Inventories Jul 0.7% 0.7% 0.6%

Read more: http://www.briefing.com/investor/calendars/economic/2011/09/05-09/#ixzz1XS2ZTOaV

[Po_d Mainiac]

27. What's in a weaks worth of numbers?

9/7-Mortgage index way off..And this is normally a big month due to people with kids, wanting to be settled prior to the new school year

9/8-Initial and continuing claims are both shitty numbers..Consumer credit increases..Trade deficit decreases I've seen this before!

Back in the days when the fan blades were just starting to get turded, shrub made the statement "Our exports are strong"..Anyone with a brain knew the only things we were actually exporting were scrap paper and dismantled manufacturing facilities. But I found one other export, not mentioned. DEBT! The bean counters actually call foreign purchase of our debt an export. A good thing?

With all the crap and uncertainty in Euroland, the U$A probably looks like a safer place to park some fiat. So more junk debt was pawned off

The algo's ain't equipped with real intelligence, so they pumped the markets up a bit on the so-called 'good' numbers.

IMHO, the numbers suck..The fleecing of the sheeple will commence in 5-4-3
YMMV

[Pale Blue Dot]

2. Oil near $88 after Obama announces jobs bill

SINGAPORE – Oil prices fell to near $88 a barrel Friday in Asia as investors mulled whether a new U.S. jobs package will help boost crude demand.

Benchmark oil for October delivery was down 62 cents to $88.43 at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. Crude fell 29 cents to finish at $89.05 on Thursday.

In London, Brent crude for October delivery was steady at $114.55 on the ICE Futures exchange.

In a bid to spark economic growth, President Barack Obama announced Thursday a $447 billion package for creating jobs.

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

[Pale Blue Dot]

3. U.S. Stock-Index Futures Decline; Benchmark S&P 500 May Trim Weekly Gain

U.S. stock futures dropped, signaling the Standard & Poor’s 500 Index will trim this week’s advance, after President Barack Obama detailed his $447 billion plan to boost hiring.

Texas Instruments Inc. (TXN), the world’s largest maker of analog chips, slid 1.8 percent in German trading after cutting its revenue forecast. Bank of America Corp. (BAC), the U.S. largest lender, declined 2.8 percent.

Futures on the S&P 500 expiring in December fell 0.1 percent to 1,178.4 at 11:28 a.m. in London after earlier gaining as much as 0.7 percent. The gauge of U.S. equities has risen 1 percent this week. Dow Jones Industrial Average futures slipped 8 points, or 0.1 percent, to 11,215 today.

Obama’s plan is “a typical idea to create jobs by political discussions,” Kai Fachinger, who manages about $750 million at SAM Sustainable Asset Management AG in Zurich, said in a phone interview. “I see it, personally, not as a positive.”

http://www.bloomberg.com/news/2011-09-09/u-s-stock-futures-gain-after-obama-outlines-447-billion-program-for-jobs.html

[Demeter]

47. Worse yet, what happened to all that deficit cutting mojo?

Increasing tax cuts ain't gonna cover it.

[Demeter]

4. Present! Love the cartoon!

Gong out to breakfast...see you all later.

[xchrom]

6. i'm jealous! i love, love, love to go out to breakfast.

have fun.

morning everyone:donut:

[Fuddnik]

7. Denial is a river that runs right through DU.

I never thought I'd see more people with no critical thinking skills here.

They're praising a polished, right-wing turd program to the heavens. They're attacking unions for fighting back.

The PTB will continue to feed them shit, as long as they'll swallow it. Democrats and Progressives, my ass.

October 6th can't come fast enough.

[Po_d Mainiac]

9. that river is overflowing the banks(ters) n/t

[westerebus]

58. Should we call the EPA?

Pollution of natural resources and all.

Oh wait. I read something about the WH deregulating smog.

Pollution. Politician. Getting so I can't tell the difference.

[bread_and_roses]

17. YEP (n/t)

[Hotler]

37. President Obama can do no wrong in these peoples eyes.

Wow! No wonder when ever I mention mass protest the crowd shouts me down and goes out of the way to explain that protest will never happen. I say let the repugs have 2012 then things will get really shitty and the protest will happen. Not enough people feeling the pain yet. To many with the attitude "I have mine. Fuck everyone else.". The fact that Football, Baseball, Basketball and NASCAR stands continue to fill up and you can't get 50 people to show up for protest on state capital steps tells me there is not enough pain yet. I have no hope. I see no future.

[Fuddnik]

41. That's what I meant yesterday, when I said.

"Life sucks, then you die".

[Demeter]

49. He's Back! Welcome home, Hotler!

Everyone is cocooning for 9/11, too. Terra! Terra! Terra! There's a truck missing in Kansas!

People have got to grow up a little. Yes, something horrible happened to 3000 people ten years ago. If you weren't personally acquainted, GET OVER IT. People die every day. Those of us dying in poverty don't get that kind of concern, and they should, because we are all one medical catastrophe from poverty, aside from the Koch brothers and their ilk....

So we build up these horrible, liberty and rights-destroying "security" programs for no discernible threat and embark on illegal wars to make more people mad at us, and starve the poverty programs back home to pay for it all....

That's some case of narcissism, more than paranoia.

[westerebus]

62. Narcissism.

I think you posted a chart the other day of 400 something of the wealthy polled as to what they thought about raising their taxes.

First thought I had was, what a bunch of narcissistic sob's.

Not only do they think they are not the problem, they insist it's not their place to step up even if it benefits their community.

From the chart, I gleaned 3% aren't at all concerned if their countrymen resent them.

A grandiose sense of security is always a welcomed friend.

Bastille, anyone?

[PassingFair]

43. They have their 401 K's to worry about.

And, yeah, its scary here now.

:scared:

[Demeter]

48. They aren't all young ignoramouses, either.

That's even more distressing.

[DemReadingDU]

16. great toon!

Yum, breakfast
:)

[ixion]

5. watch for markets to tank, thanks to

Obama's poor speech that will not do diddley to produce real jobs.

[Po_d Mainiac]

8. But, but, but..chairsatan says he has lots of options left

He can print for continued modest growth..(in the jobless claims)

He can print for transitory inflation..(that may last a day or two longer)

He can print to save European banks..He can even print enough to put out the fires in Texas :dontchaknow:

[DemReadingDU]

19. that, and Europe is imploding - Denninger today

9/9/11 Denninger - Caution: Apparent Lehman Event On Deck

There are some very ominous rumblings coming from the European continent this morning.

First, Greece has the mother and father of all inverted yield curves, with the 1 year now trading at or near an implied 100% interest rate.

That's not really news though - it's been there for the last few days.

The new news is that some of the T-Bill auctions they ran were technical fails, with failures to place the entire offering.

This is no longer a liquidity event. It is now a "no money in the checking account" event.

Greece's attempt to elicit "voluntary" rollovers is under doubt as well.

much more...
http://market-ticker.org/akcs-www?post=193848

[CountAllVotes]

44. another tiny band-aid

that will not fix a huge problem.

Move along now ... nothing to see here ... all is well in the good ol' USA!

[xchrom]

10. europe: The Euro's Future Will Decide Merkel's Future'

http://www.spiegel.de/international/germany/0,1518,785132,00.html

It was an unusually passionate speech for German Chancellor Angela Merkel. Normally she is known for her hesitancy and tendency to hedge her bets, especially when it comes to saving the euro. But in a speech to the German parliament, the Bundestag, on Wednesday, she finally sounded like a committed European.

"The euro is much, much more than a currency," Merkel said. "The euro is the guarantee of a united Europe. If the euro fails, then Europe fails."

In her speech , which was part of a general debate on the budget, Merkel made a plea for "more Europe" and said that in order to make Europe strong and lasting, "treaty amendments can no longer be taboo in order to bind the EU closer together." She also reminded her country that a strong Europe was in Germany's interest. "In the long term, Germany cannot be successful if Europe isn't doing well too."

Her strong words came shortly after a tensely anticipated court ruling that could potentially have derailed future euro-zone bailouts. The German Federal Constitutional Court rejected several legal complaints that had been filed against Germany's participation in massive efforts to prop up the European common currency.

[xchrom]

11. Manufacturers see input prices drop

http://www.independent.co.uk/news/business/news/manufacturers-see-input-prices-drop-2351882.html

The prices paid by UK manufacturers posted the biggest drop in more than two years in August, official figures revealed today, as a period of high inflation for the sector appeared to pass its peak.

Producer input prices fell 1.9% last month, compared to a 0.5% increase in July, while prices charged by manufacturers to their customers slowed, increasing 0.1%, compared to a 0.3% boost the previous month.

The reduction in input prices was driven by a 5.9% dive in crude oil costs, fuelled by fears the global economy is heading back into recession, while weak demand squeezed manufacturers' pricing power.

The slowdown will ease pressure on the Bank of England to curb the high rate of consumer prices index (CPI) inflation, weakening the chance of an interest rate hike and increasing the likelihood of a further cash injection into the Bank's quantitative easing programme.

[xchrom]

13. Pub industry levies 'unsustainable', says JD Wetherspoon

http://www.independent.co.uk/news/business/news/pub-industry-levies-unsustainable-says-jd-wetherspoon-2351807.html

The founder of the JD Wetherspoon pub chain today renewed his attack on the "unsustainable" levies facing the industry after revealing his firm's tax bill topped £450 million in the last financial year.

Tim Martin, who is chairman of the 823-strong pub business he set up in 1979, said the tax disparity between supermarkets and pubs was creating a serious competitive disadvantage and leading to the closure of many pubs.

His comments came as Wetherspoon reported record sales of £1.07 billion for the year to July 24, an increase of 7.6% on a year ago although pre-tax profits fell 6% to £66.8 million due to higher interest payments.

Mr Martin said total taxes paid to the Government were £453.1 million, including VAT of £204.8 million, excise duty of £120.2 million, PAYE and National Insurance of £65.2 million, property taxes of £41.7 million and corporation tax of £21.2 million.

[xchrom]

15. George Osborne stands by economic policy

http://www.independent.co.uk/news/uk/politics/george-osborne-stands-by-economic-policy-2351796.html

deficit reduction plans were flexible enough to deal with the deteriorating economic situation.

The chancellor defended his approach after IMF head Christine Lagarde said the UK government's stance remained "appropriate".

However, Ms Lagarde also delivered a stark warning that policymakers needed to be ready to change course if conditions worsened further.

"As (Ms Lagarde) says, the UK's strong fiscal consolidation is essential to restore debt sustainability given the UK's very large structural deficit and large financial sector relative to GDP," Mr Osborne said.

[xchrom]

18. IMF chief Lagarde urges global action as G7 meet

http://www.bbc.co.uk/news/business-14851393

International Monetary Fund chief Christine Lagarde has urged "bold action" on the faltering world economy, ahead of a meeting of the G7 group of leading economies.

The G7 is meeting in Marseille to consider a "coordinated response".

The two-day meeting comes as the Organisation for Economic Co-operation and Development predicted a global slowdown this year.

Europe is also struggling with a sovereign debt crisis.

[xchrom]

20. Germany pushes Greece to the brink in dangerous brinkmanship

http://www.telegraph.co.uk/finance/financialcrisis/8751180/Germany-pushes-Greece-to-the-brink-in-dangerous-brinkmanship.html

German finance minister Wolfgang Schauble said there will be no more money until Grecce "actually does" what it agreed to do. "I understand that there is resistance among the Greek population to austerity measures. But in the end it is up to Greece whether it can fulfil the conditions necessary for membership of the common currency. We offer no discounts," he told Deutschlandfunk. The wording has been taken as a threat to eject Greece from EMU, though is there no legal mechanism for such drastic action.

Dutch finance minister Jan Kees de Jager said the Netherlands "will not participate" in further payments to Greece unless it secures the go-ahead from the EU-IMF Troika, which left Athens abruptly last week after talks broke down.

The showdown in Greece came as the European Central Bank (ECB) abandoned its push for higher interest rates and slashed growth forecasts for the next two years, warning that the situtation is "extraordinarily demanding" and that "downside risks" have intensified.

"The hiking cycle has been aborted," said Carsten Brzeski from ING, adding that rates may even be cut from 1.5pc if the economy worsens and deflations rears its ugly head.

[Demeter]

50. Time for Greece to throw in its hat, pick up its ball, and go home

It would serve the Germans right. Do the Iceland maneuver.

[xchrom]

25. European stocks retreat; bank shares weigh as G7 set for key talks

http://economictimes.indiatimes.com/markets/global-markets/european-stocks-retreat-bank-shares-weigh-as-g7-set-for-key-talks/articleshow/9924098.cms

LONDON: European stocks dropped on Friday, with bank shares again weighed down by economic strains that were set to dominate key talks between the G7 grouping of the world's richest nations.

The euro slid against the dollar a day after eurozone growth forecasts were slashed on concerns over the ongoing debt crisis, and following moves by US President Barack Obama to boost employment in the world's biggest economy.

IMF chief Christine Lagarde on Friday urged countries to "act now and act boldly" to kick start faltering economic recovery, as the Group of Seven prepared to meet in France.

"All (market) attention will be on Obama's proposals and on the start of the G7 meeting of finance ministers and central bankers," Dolmen Stockbrokers said in a note.

[Hawkowl]

29. EUR breaks July Lows as GRE/PTE CDS Surge

"Despite some positive macro data (FRA) this morning, peripheral country bond yields (and CDS) continue to rise unwaveringly towards the endgame where European leaders are forced to actually do something as opposed to paper over gaping cracks with piecemeal solutions that are seen through by market participants within hours of release.

Greece 5Y CDS rose 210bps to 3235bps (running equiv)
Portugal 5Y CDS rose 50bps to 1110bps.

Perhaps more worryingly Germany 5Y CDS rose 3bps to 81bps as we see similar risk transfer transmissions as were evident during the US (private to public) crisis three years ago.

EUR just broke through the mid-July lows of 1.3837, taking it back to mid-March lows."

http://www.zerohedge.com/news/eur-breaks-july-lows-grepte-cds-surge

[xchrom]

34. Juergen Stark to quit ECB over bond-buying row

http://uk.reuters.com/article/2011/09/09/uk-eurozone-idUKTRE7882SO20110909

(Reuters) - The top German official at the European Central Bank is to quit early in disagreement with the bank's policy of buying euro zone government bonds to combat the currency bloc's debt crisis.

After Reuters exclusively reported that Executive Board Member Juergen Stark, the central bank's chief economist, would quit, the ECB confirmed that he would leave before the end of the year once a replacement had been found.

The euro fell immediately on the shock development, which dramatised a rift inside the central bank over the handling of the deepening debt crisis and could undermine German public support for the euro.

Stark's departure, almost three years before his term is due to expire in May 2014, would deepen a gulf between the ECB, which manages the currency of the 17-nation European currency area, and German guardians of central bank orthodoxy.

[xchrom]

36. Factory gate inflation higher than expected

http://uk.reuters.com/article/2011/09/09/uk-producer-prices-august-idUKLNE78800Z20110909

(Reuters) - Factory gate inflation proved sticky in August, holding at July's upwardly revised reading of 6.1 percent -- the highest annual rate since October 2008 -- despite a sharp fall in input prices, official data showed on Friday.

Analysts had forecast a 5.9 percent increase.

The Office for National Statistics said input prices fell 1.9 percent on the month, a bigger drop than economists had expected, taking the annual rate of input price inflation to 16.2 percent, the lowest since March.

The price of crude oil inputs fell by 5.9 percent on the month, the biggest drop since May, although the cost of oil is still up 35.7 percent on a year ago.

[xchrom]

12. OECD slashes growth outlook for developed economies

http://www.independent.co.uk/news/business/news/oecd-slashes-growth-outlook-for-developed-economies-2351516.html

The OECD yesterday urged developed nations to be prepared to do more to support the global economy. Revealing a sharply downgraded international growth outlook for the second half of 2011, the Paris-based economic organisation said that countries that have "credible fiscal frameworks" should enact "short-term fiscal stimulus" if there is a prolonged slowdown in economic activity.

The OECD also called on central banks to keep interest rates on hold and to use other unorthodox monetary policies, such as quantitative easing, to support growth.

The organisation's latest assessment of the global economic outlook said that growth in the G7 economies (with the exception of Japan) is likely to be less than 1 per cent, on an annualised basis, in the second half of this year. This is less than half the level of expansion it forecast four months ago.

The OECD expects Japan's next growth figures to be pumped by post-tsunami reconstruction spending. But the outlook for the rest of the world's developed industrial nations is very bleak. The German economy is projected to expand by 2.6 per cent in the third quarter of this year, before contracting by 1.4 per cent in the final quarter. Italy is expected to shrink slightly in the third quarter, before stagnating for the rest of the year. The OECD expects growth in the US, France and the UK to be almost wiped out by the fourth quarter.

[xchrom]

14. Iceland: The broken economy that got out of jail

http://www.independent.co.uk/news/business/analysis-and-features/iceland-the-broken-economy-that-got-out-of-jail-2349905.html

Iceland was a pioneer in recklessness during the credit boom. And now the small nation in the north Atlantic is a pioneer in political accountability during the credit bust. Geir Haarde, the Icelandic prime minister between 2006 and 2009, appeared in a special constitutional court in Reykjavik yesterday on charges of "failures of ministerial responsibility" during the 2008 financial meltdown. But there is an irony here. For the economy that Mr Haarde helped to wreck has fared surprisingly well since the bust.

Iceland experienced one of the most severe recessions in the world when the markets crashed in 2008. Economic output fell by about 12 per cent over two years. But the latest report on Iceland by the International Monetary Fund shows that growth is resuming. GDP is expected to increase by a relatively healthy 2.5 per cent in 2011. The Icelandic public finances are on a sustainable path too with government debt projected to fall to 80 per cent of GDP in 2016.

The turnaround should not be exaggerated. Iceland is still more than 10 per cent below pre-crisis output levels. Unemployment remains at about 6.7 per cent, considerably higher than before 2007. The standard of living of most Icelanders is well down. Access to foreign currency is tightly controlled. And risks to recovery remain. Central bank interest rates are going up in order to curb inflation. This could stifle growth. Yet the fact remains that the outlook for the Icelandic economy is looking rather healthier than other distressed economies in Europe such as Greece, Portugal and Ireland.

So how did Iceland manage it? There were four pillars to Icelandic policy in the aftermath of the bust: external assistance, debt repudiation, currency depreciation and capital controls. The assistance was considerable. Reykjavik called in the IMF in November 2008. So far Iceland has received €1.56 billion (£1.38bn) in assistance from the fund (in the context of a GDP of €8.4bn). It has had help from friendly governments, too. Iceland received $3bn (£2bn) from Nordic nations to bolster the foreign exchange reserves of its central bank.

[Demeter]

51. Iceland is a lesson for all nations

Let's see if there are any other bright ones out there....

[maddogesq]

53. Belgium has some smart cookies too!

http://www.cnbc.com/id/44449759

"Some have suggested that the country’s above-average performance was helped by the absence of austerity measures."

I swear, those media "experts" that keep calling for austerity failed ECON 101.

[xchrom]

21. asia: Japan economy weaker than estimated in second quarter

http://www.bbc.co.uk/news/business-14849534

Japan's economy contracted more severely in the second quarter than was initially estimated, revised government data has shown.

The economy shrank at an annual rate of 2.1% during the period, compared with the 1.3% drop reported previously.

The decline came as companies cut back spending due to concerns about a slowing global economy and a rising yen.

The data raised fresh concerns about the health of Japan's economy.

"As capital spending is unlikely to grow as strongly as previously thought, a rebound in gross domestic product in July-September may be smaller than initially thought, although gradual recovery is still expected," said Yuichi Kodama of Meiji Yasuda Life Insurance in Tokyo.

[xchrom]

22. China's inflation rate moderated in August

http://www.bbc.co.uk/news/business-14849166

China's rate of inflation eased in August, after hitting a three-year high in July, according to the National Statistics Bureau.

Consumer prices in the world's second largest economy rose 6.2% from a year earlier, down from 6.5% in July.

Food prices have been the main reason for the rising costs in the country.

Separately, the Bureau said China's industrial output had risen 13.5% in August year-on-year, slightly down on growth in July.

[xchrom]

32. Hong Kong, Chinese shares end lower

http://economictimes.indiatimes.com/markets/global-markets/hong-kong-chinese-shares-end-lower/articleshow/9923046.cms

HONG KONG: Hong Kong and Shanghai shares fell on Friday after Chinese data showed inflation in the world's second biggest economy remained high in August while a plan to boost US jobs failed to inspire.

In Hong Kong the benchmark Hang Seng Index shed 0.23 percent, or 46.19 points, to 19,866.63 on turnover of HK$49.65 billion ($6.37 billion).

China's consumer price index rose 6.2 percent year-on-year in August, the government said Friday, down from a more than three-year high of 6.5 percent in July.

However, the figure is still much higher than the government would like as it fears high prices leading to social unrest.

[xchrom]

23. 9/11: US warns of 'credible' anniversary threat

http://www.bbc.co.uk/news/world-us-canada-14848962

The US has warned of a "specific, credible threat" ahead of the 10th anniversary of the 9/11 attacks, possibly in New York or Washington DC.

New York Mayor Michael Bloomberg said the threat was "uncorroborated", but security would be boosted at bridges, tunnels and on public transport.

Police Commissioner Raymond Kelly said spot checks in the New York subway would be more frequent in coming days.

President Barack Obama called on the US to "redouble" anti-terror efforts.



:eyes:

[Hotler]

26. TERROR! TERROR! TERROR! I need more duct tape & plastic. eom.

[xchrom]

24. south asia: Air India: Fleet expansion 'a recipe for disaster'

http://www.bbc.co.uk/news/world-south-asia-14849640

Indian government auditors have criticised the aviation ministry over its decision to buy 111 planes for the national airline, Air India.

In a report submitted to parliament on Thursday, the auditors said the 2005 decision was "a recipe for disaster".

The Comptroller and Auditor General (CAG) also said the decision to merge the domestic and international sections of the airline was "ill-timed".

Air India has been losing millions of dollars in recent years.

[xchrom]

30. Sensex ends 300 points lower;Sterlite,RIL,SBI down

http://economictimes.indiatimes.com/markets/stocks/market-news/sensex-ends-300-points-lowersterliterilsbi-down/articleshow/9924296.cms

MUMBAI: Benchmarks ended three-day rally and closed in the negative territory as traders unwounded long positions near crucial resistance levels following weakness in global markets. The US president Barrack Obama's plans to create more jobs by giving $ 447 billion stimulus failed to lift sentiments.

According to analysts, the market had rallied in the past few sessions and a correction was expected. Investors will now look out for IIP data and Reserve Bank of India's policy meet next week for further direction. The market is expected to consolidate in a range for next few sessions and may witness some volatility in rate sensitive sectors.

The correction was led by profit booking in index heavyweight Reliance Industries. The stock had moved up in last session after the CAG report was tabled in the parliament. According to experts, the stock is a good buy on dips for investors with time horizon of over a period of one year.

National Stock Exchange's Nifty closed at 5059.45, down 93.80 points or 1.82 per cent. The broader index touched intraday low of 5046.80 and high of 5163.75

[xchrom]

33. Exports up 44.2 per cent in August; deficit widens to $14.1 bn

http://economictimes.indiatimes.com/news/economy/foreign-trade/exports-up-44-2-per-cent-in-august-deficit-widens-to-14-1-bn/articleshow/9924652.cms

NEW DELHI: India's exports increased by 44.2 percent to $24.3 billion in August, while imports rose 41.8 percent to $38.4 billion, leading to a trade deficit of $14.1 billion, Commerce Secretary Rahul Khullar said on Friday.

Although the growth in exports is much above the government's target, it has slowed down significantly when compared to the previous month.

Exports had surged 81.79 percent to $29.34 billion in July, while imports had grown by 51.52 percent to $40.42 billion, resulting in the month's trade deficit of $11.08 billion.

Talking to reporters here after releasing the provisional data, Khullar said the government would help exporters to maintain the growth momentum.

[Roland99]

28. What the...?? Futures were barely down but 10 min. in DJIA is -175

[xchrom]

31. German stocks drop more than 3%, Dow Jones falls 1.5%

http://economictimes.indiatimes.com/markets/global-markets/german-stocks-drop-more-than-3-dow-jones-falls-1-5/articleshow/9925493.cms

BERLIN: German stocks dropped 3.15 per cent in mid-afternoon trading Friday, following reports that the chief economist of the European Central Bank was due to resign.

At around 15:45 am (1345 GMT), the blue-chip DAX 30 index was showing a loss of 3.15 per cent at 5,241.68 points. The ECB later confirmed the reports.

Meanwhile, Italian shares showed a drop of 3.40 per cent in mid-afternoon trading on Friday, in line with the trend on other leading European markets.

The FTSE Mib index stood at 14,246 points, dragged down by a fall of bank shares. Unicredit stock fell 5.96 per cent to 0.789 euros.

[Ghost Dog]

71. Decision to quit by Jürgen Stark seen as signal policymakers remain at loggerheads

The decision to quit by Jürgen Stark, a member of the European Central Bank's (ECB) rate-setting governing council, was quickly seen as a signal that policymakers remained at loggerheads.

Stark, a German hardliner and former member of the Bundesbank board, has lobbied for the ECB to impose stricter austerity measures on Greece and Portugal and to reject using its funds to purchase Italian and Spanish bonds until Rome and Madrid have made further efforts to reduce their debts and institute reforms.

At a press conference on Thursday ECB boss Jean-Claude Trichet appeared visibly rattled by questioning from German journalists who asked if the eurozone's largest economy should quit rather than keep subsidising indebted countries.

Trichet said, in a clear warning to colleagues, including Stark, that Germany had prospered from the euro and should maintain its commitment during the worst crisis since the second world war.

...

Stark has been a consistent critic of the ECB's programme of purchasing government bonds of debt-ridden European nations in the markets. He has said eurobonds, which many economists believe are the only way to save the euro, would create false incentives for indebted countries. The cost of borrowing for the German government has increased as investors price in the risk of it absorbing the debts of all eurozone members through the creation of eurobonds.

/... http://www.guardian.co.uk/business/2011/sep/09/stark-ecb-resignation-sends-markets-reeling

[xchrom]

35. PRECIOUS-Gold climbs nearly 1 pct ahead of G7 talks

http://uk.reuters.com/article/2011/09/09/markets-precious-idUKL5E7K90YC20110909

LONDON, Sept 9 (Reuters) - Gold prices climbed nearly 1 percent on Friday, clawing back more of the week's losses, ahead of a G7 finance ministers' meeting this weekend at which officials will come under heavy pressure to take action to revive economic growth.

The precious metal has had a volatile week, trading in a near-$130 range after a swift correction followed Tuesday's record high at $1,920.30 an ounce.

Spot gold was up 0.7 percent at $1,881.49 an ounce at 0904 GMT, having earlier risen as high as $1,885.50.

"Personally, I think we ought to test the $1,900 level later this afternoon," said Afshin Nabavi, head of trading at MKS Finance in Geneva.

[Festivito]

38. Debt: 09/07/2011 14,717,757,015,045.83 (UP 19,131,464,738.45) (Wed, UP a lot.)

(UNDER the new 2011 debt limit of 14.694-trillion dollars by 423.757-billion dollars. Good day.)
A stop in A2 for soup and internuts.
(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)
= 10,073,860,042,745.80 + 4,643,896,972,299.96
UP 15,583,261,687.60 + UP 3,548,203,050.85

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 $3,196.51 makes 1T$.
A family of three: Mom, Dad, Child: $9.59, ABOUT TEN BUCKS for a 1B$ 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 312,840,992 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 $47,045.49.
A family of three owes $141,136.46. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 23 reports in the last 30 to 33 days.
The average for the last 23 reports is 5,793,746,770.43.
The average for the last 30 days would be 4,441,872,524.00.
The average for the last 33 days would be 4,038,065,930.91.
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$/day.
There were 232 reports in 342 days of FY2011 averaging 4.98B$ per report, 3.38B$/day.
Above line should be okay

PROJECTION:
There are 501 days remaining in this Obama 1st term.
By that time the debt could be between 15.4 and 17.3T$.
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)
09/07/2011 14,717,757,015,045.83 BHO (UP 4,090,879,966,132.68 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 +1,156,133,984,154.10 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
Endof11 +1,233,885,684,842.83 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
08/17/2011 -000,155,359,363.72 ---
08/18/2011 +006,258,648,233.06 ------------*********
08/19/2011 +019,892,825,521.14 ------------**********
08/22/2011 -000,213,053,000.99 --- Mon
08/23/2011 +000,814,357,949.50 ------------********
08/24/2011 +000,495,517,849.57 ------------********
08/25/2011 +015,444,082,130.78 ------------**********
08/26/2011 +001,003,663,200.19 ------------*********
08/29/2011 -000,073,220,970.90 ---- Mon
08/30/2011 +000,152,580,275.78 ------------********
08/31/2011 +034,126,581,560.14 ------------**********
09/01/2011 +034,131,323,630.30 ------------**********
09/02/2011 +000,182,220,803.10 ------------********
09/06/2011 -000,290,117,782.20 --- Tue
09/07/2011 +015,583,261,687.60 ------------**********

127,353,311,723.35 Total of 15 above reports.

Heavy borrowing seems to start after 09/18/2008 while Bush was in power JUST BEFORE fiscal year end.
Bush admin borrowed $962,245,245,654.01 in those last 124 days in office crossing two fiscal years.
$360,093,093,653.42 in last 12 days of FY2008, and $602,152,152,000.59 in subsequent 112 days before leaving office.

For a prettier and more explanatory view of our nation's debt:
http://www.brillig.com/debt_clock
http://www.usdebtclock.org/
DUer primer on National debt

(Debt to the penny keeps changing. Stuff is missing. Best to keep our own history.) LAST REPORT:
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4987969&mesg_id=4988294

[Festivito]

74. Debt: 09/08/2011 14,685,550,385,913.19 (DOWN 32,206,629,132.58) (Thu, DOWN some.)

(UNDER the new 2011 debt limit of 14.694-trillion dollars by 391.550-billion dollars. Good day.)
This cat owns my bed.
(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)
= 10,067,649,034,359.50 + 4,617,901,351,553.68
DOWN 6,211,008,386.30 + DOWN 25,995,620,746.28

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 $3,196.44 makes 1T$.
A family of three: Mom, Dad, Child: $9.59, ABOUT TEN BUCKS for a 1B$ 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 312,848,192 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 $46,941.46.
A family of three owes $140,824.38. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 23 reports in the last 30 to 31 days.
The average for the last 23 reports is 4,253,164,368.25.
The average for the last 30 days would be 3,260,759,348.99.
The average for the last 31 days would be 3,155,573,563.54.
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$/day.
There were 233 reports in 343 days of FY2011 averaging 4.82B$ per report, 3.28B$/day.
Above line should be okay

PROJECTION:
There are 500 days remaining in this Obama 1st term.
By that time the debt could be between 15.4 and 17.3T$.
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)
09/08/2011 14,685,550,385,913.19 BHO (UP 4,058,673,337,000.10 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 +1,123,927,355,021.40 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
Endof11 +1,196,015,990,037.35 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
08/18/2011 +006,258,648,233.06 ------------*********
08/19/2011 +019,892,825,521.14 ------------**********
08/22/2011 -000,213,053,000.99 --- Mon
08/23/2011 +000,814,357,949.50 ------------********
08/24/2011 +000,495,517,849.57 ------------********
08/25/2011 +015,444,082,130.78 ------------**********
08/26/2011 +001,003,663,200.19 ------------*********
08/29/2011 -000,073,220,970.90 ---- Mon
08/30/2011 +000,152,580,275.78 ------------********
08/31/2011 +034,126,581,560.14 ------------**********
09/01/2011 +034,131,323,630.30 ------------**********
09/02/2011 +000,182,220,803.10 ------------********
09/06/2011 -000,290,117,782.20 --- Tue
09/07/2011 +015,583,261,687.60 ------------**********
09/08/2011 -006,211,008,386.30 --

121,297,662,700.77 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=4989277&mesg_id=4989487

[Roland99]

39. 11:25am - Getting worse

Dow 11,061 -235 -2.08%
Nasdaq 2,493 -36 -1.42%
S&P 500 1,164 -22 -1.88%
GlobalDow 1,791 -51 -2.75%
Oil 86.78 -2.27 -2.55%
Gold 1,859 +2 +0.08%
Euro /$1US 1.3673 -0.0207
$1US / Yen 77.5100 0.0075
Pound / $1US 1.5876 -0.0083
Dollar Index 77.06 0.81
10yr T-note 1.96 -0.02
2yr T-note 0.19 -0.01

[Roland99]

40. DJIA testing 11k again.

[Hawkowl]

42. Germany preps support if Greece defaults: report

Sept. 9, 2011, 12:11 p.m. EDT By David B. Wilkerson CHICAGO (MarketWatch) -- The German government may re-introduce a fund to recapitalize its banks if Greece defaults on the terms of the loans it received, according to a Bloomberg report that cited three unnamed sources close to the situation. German banks face as much as a 50% loss on Greek bonds if Greece does default, Bloomberg reported. Germany is worried that the debt dilemma will worsen because Greece has been unable to meet its obligations to cut its national budget, the news agency said.

http://www.marketwatch.com/story/germany-preps-support-if-greece-defaults-report-2011-09-09?link=MW_home_latest_news

Combine this with:

"The prospect of a freeze in payments appeared even more serious on Thursday, after Greek commercial banks failed to cover the sum of 300 million euros of supplementary, noncompetitive bids for Tuesday’s auction of T-bills, providing only 155 million. The shortfall is interpreted as a clear message by banks to the government that they are unwilling to fund future issues of T-bills."

http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_08/09/2011_405503

And I believe the chance for a Greek default this weekend is very high indeed. A ten year anniversary for 9/11 and all we may get is another financial Armageddon.

[Demeter]

45. Down 330 pts at 1 pm

Looks like that speech went over like a lead balloon.

[Pale Blue Dot]

46. You should check your watch, Demeter.

:-)

[Demeter]

52. I was on Iceland Time

Besides, the exhaustion I feel, it ought to be 3 pm by now...

[florida08]

54. bleeding continues

Dow Jones 10,992.44 -303.37 (-2.69%)
S&P 500 1,155.66 -30.24 (-2.55%)
Nasdaq 2,472.36 -56.78 (-2.25%)

Stiglitz says probablity of recession 'very high':-(
http://www.bloomberg.com/news/2011-08-25/stiglitz-says-probability-of-u-s-recession-very-high-1-.html

[RUMMYisFROSTED]

55. Interesting.

[Demeter]

56. Arent' you jumping the gun? It's time for the 2:30 Miracle

any minute now...

[Roland99]

57. not happening yet...I've seen a lot of 3:15 saves, though.

[DemReadingDU]

66. bloodbath today, n/t

[florida08]

59. am so sick of this SSDD stuff from Barack

Am marking the calendar every day it's down. Since Aug 1 it's been down at least once to two times a week.
Last week it was down twice. This week will be the first thrice. Washington is clueless and Beranke is out of ammunition that never worked anyway. Feels like a slow hemorrhage.

Have a peaceful weekend..TGIF

[Roland99]

60. Here they come to save the day!! The Dow Jones will close above 11k!!

;)

[Roland99]

61. Charting the disappearing jobs

http://www.marketwatch.com/story/charting-the-disappearing-jobs-2011-09-09?link=MW_home_latest_news




more charts at link

[Roland99]

63. At the close - Under 11k. They couldn't hold on.

Dow 10,992 -304 -2.69%
Nasdaq 2,468 -61 -2.42%
S&P 500 1,154 -32 -2.67%
GlobalDow 1,785 -57 -3.10%
Gold 1,857 0 -0.02%
Oil 87.21 -1.84 -2.07%

[Hotler]

64. Just a blip. Bounce coming Monday. eom.

[Demeter]

65. I don't think so, Hotler

I have no hope, I see no future....

[hamerfan]

68. All together now!

"I have no hope, I see no future...."

We are so Frikkin' doomed!

hamerfan

[DemReadingDU]

69. Graham Summers: Let’s have a look at the REAL situation in the financial system.

9/9/11
Let’s have a look at the REAL situation in the financial system.

1) Greece is bankrupt. It has been for years. The market has finally stopped being moronic and figure out the obvious (so much for the “efficient” hypothesis).

2) Greece WILL default. This WILL crush German and French banks.

3) The EU in its current form (as well as the Euro) are DONE.

4) The US banking system is similarly fragile and on the verge of collapse.

5) The US economy is in a DE-pression and rolling over in a big way AGAIN. All the economic data is being massaged to look better than it is. Look around you, does the economy look OK to you?

6) The US Government is broke. Obama’s jobs plans is absurd. Where’s the money going to come from?

7) Bank of America (as well as the other TBTFs) is insolvent. The only reason they’re still in business is rampant fraud, lies, and theft. What’s happening in Greece is coming to them soon.

8) The Federal Reserve has lost control of the markets. QE 3, IF it comes, will accomplish nothing. Bernanke will be stepping down within 18 months and possibly facing legal battles.

Those are ALL FACTS. That’s the deal. The claims that all is well and that the market will hold up are lies. The Fed gave TRILLIONS of Dollars from the public to those who perpetuated the biggest theft and fraud in history. And they FIXED NOTHING in the process.

So here we are, the Fed is out of bullets entirely (Operation Twist 2 won’t do anything, low rates haven’t helping the economy OR the mortgage markets… and QE 3 is not going to happen without systemic collapse) and losing control of the markets by the day.

Look at Bernanke’s track record. He’s been wrong about EVERYTHING for years. Do you think he has ANY ideas or solutions to what’s happening NOW? The guy doesn’t even believe inflation is an issue. He’s either stupid or a liar. Neither of those are indicative of someone who can fix things.

In plain terms, we’re heading into the END GAME for the markets. What’s coming will see debt defaults in Europe and the US, a stock market Crash that makes 2008 look like a picnic, civil unrest and more.

http://www.zerohedge.com/contributed/real-deal



:(

[DemReadingDU]

70. Denninger: It's Over

9/9/11 It's Over

Seriously.

There is persistent chatter about a Greek default over the weekend, which Greece denied, but the denier refused to be named. If it's not true, then put your damned name on the statement or be considered what you are - liars. Greece failed to place their short-term bill rollover. That's a declaration by the market that even for short-term paper the market has utterly lost confidence in Greece and the Euro.

Germany's DAX market relative to the United States just hit a five year low today.

To add to the "liar liar pants on fire" calls Germany is now reported to be working a plan to recapitalize their banks if Greece defaults.
.
.
I believe the alarm has now rung. The market calls all bluffs and that's exactly what it's doing right here, right now, today. The lies have been overwhelmed by the functional facts - that you cannot make payroll or pay the light bill with imaginary money - you need real money, and there isn't any.
.
.
You have one final opportunity to choose America: Watch Dancing With the Stars or demand and enforce your demand that this crap stop right now.

Just be aware - if you choose "Dancing With The Stars" that it won't be long before you have no job, no money and perhaps no electricity with which to power your TV and no "free stuff" coming from a bankrupt government either. Yes, it can happen here, and if you think not you're dumber than a box-of-rocks and deserve exactly what is coming.

Choose now, choose here and choose wisely.

http://market-ticker.org/akcs-www?post=193872

[DemReadingDU]

67. Rumors of Greece default this weekend

Could that bounce the markets Monday?
:eyes:

[Hotler]

72. I forgot the sarcasm thingy.

:sarcasm:

[Demeter]

73. Oh! Well, that explains it.

[Name removed]

75. Deleted message

Message removed by moderator. Click here to review the message board rules.

[DemReadingDU]

76. checkout our weekend thread

lots more articles to read throughout the weekend

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=103x625879

[DemReadingDU]

77. Jesse: Psychopaths Among Us

9/9/11 Psychopaths Among Us

Jesse says...

I might have found the remarks about the Vancouver stock exchange a little more shocking and less credible than in my idealistic youth, except later in life I had the unfortunate experience of working more closely with a few of the resident sociopaths, psychopaths, and narcissists there. I am still processing some of the things that I learned in that experience, and some others I had afterwards in the higher echelons of the corporate world, and national politics.

It takes a little while to catch on, because they can seem so normal, so charming. Good people think most people are rational and basically honest, just like them. But they wrong, there are very sick people out there, bu they do not seem sick, do not ask for help. They do not want help, or rules, or anything else that gets in their way.

And they are particularly good at bending the rules to shape the system to help fulfill their need to feed. They are naturally drawn to positions of power, and are often verbally acute, and willing to say and do almost anything to get their way. And they seem to be gaining traction, getting better, and finding kindred spirits in the growing partnership between corporations and the government.


"A lot of white-collar criminals are psychopaths," says Bob Hare. "But they flourish because the characteristics that define the disorder are actually valued. When they get caught, what happens? A slap on the wrist, a six-month ban from trading, and don't give us the $100 million back. I've always looked at white-collar crime as being as bad or worse than some of the physically violent crimes that are committed."


"Three decades of these studies, by Hare and others, has confirmed that psychopaths' brains work differently from ours, especially when processing emotion and language.

lots more...
http://jessescrossroadscafe.blogspot.com/2011/09/psychopaths-among-us.html