STOCK MARKET WATCH, Wednesday November 3

[ozymandius]

Source: du

STOCK MARKET WATCH, Wednesday November 3, 2010

AT THE CLOSING BELL ON November 2, 2010

Dow 11,188.72 +64.10 (+0.57%)
Nasdaq 2,533.52 +28.68 (+1.13%)
S&P 500 1,193.57 +9.19 (+0.77%)
10-Yr Bond... 2.57 -0.02 (-0.69%)
30-Year Bond 3.91 -0.02 (-0.59%)

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Market Conditions During Trading Hours

Euro, Yen, Loonie, Silver and Gold

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Handy Links - Market Data and News:Economic Calendar    Marketwatch Data    Bloomberg Economic News    Yahoo! Finance    Google Finance    Bank Tracker    
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Handy Links - Economic Blogs:
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Brad DeLong      Bonddad    Atrios    goldmansachs666    The Stand-Up Economist

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

Bush Administration Officials Convicted = 2
Names: David Safavian, James Fondren

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

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

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

Read more: du

[ozymandius]

1. Today's Reports

07:00 MBA Mortgage Applications 10/29
Briefing.com NA
Consensus NA
Prior 3.2%

07:30 Challenger Job Cuts (y/y) Oct
Briefing.com NA
Consensus NA
Prior -44.1%

08:15 ADP Employment Change Oct
Briefing.com 20K
Consensus 23K
Prior -39K

10:00 ISM Services Oct
Briefing.com 53.5
Consensus 53.4
Prior 53.2

10:00 Factory Orders Sep
Briefing.com 2.0%
Consensus 1.7%
Prior -0.5%

10:30 Crude Inventories 10/30
Briefing.com NA
Consensus NA
Prior 5.01M

14:00 Auto Sales Oct
Briefing.com NA
Consensus 3.8M
Prior 3.75M

14:00 Truck Sales Oct
Briefing.com NA
Consensus 5.1M
Prior 5.07M

14:15 FOMC Rate Decision Nov 3

http://www.briefing.com/Investor/Public/Calendars/EconomicCalendar.htm

[Dr.Phool]

2. Good morning Big O! And everyone else.

Gotta get busy and hose the blood off of Floriduh.

[ozymandius]

4. G'morning.

:donut: Normally, I stay up and watch election results. Not this time as my workload has left me absolutely exhausted. This was the second day in a row that I've slept through the alarm. I'm ready for a break.

If the stupid contagion that swept through Georgia has migrated to Florida then you all there have my sympathies. How did Florida make out, Dr. Phool?

[Roland99]

13. I literally felt sick in my stomach when I got home and saw Grayson had lost

I honestly think I'm going to go no further up here at DU than this thread everyday.

Let the Repukes fuck over this country completely...they were bound to anyway.

[Po_d Mainiac]

20. The only consolation is the banksters may beat them to it :sob:

[DemReadingDU]

16. Ohio turned red again

:puke:

[Po_d Mainiac]

19. That royally sucked

I was counting ballots last night. Freekin weird voting..groan!

[Roland99]

21. Went from a Dem mayor and Dem Rep to Repuke on both accounts down here

and looks like FL will still have a Repuke Governor...one who is literally a criminal this time, too.

gee, great.

[Po_d Mainiac]

23. Our Gov elect is a teabagger n/t

[Tansy_Gold]

57. Ours is a teabagger AND a racist. n/t

[obxhead]

27. As did VA.

:puke:

[ozymandius]

3. Oil above $84 in Asia as Fed stimulus move awaited

BANGKOK – Oil rose above $84 a barrel Wednesday in Asia as investors awaited details of a Federal Reserve plan to boost the U.S. economy that could further weaken the dollar and boost demand for crude.

It was the fourth straight day of gains for oil, driven primarily by a weaker dollar and expectations that the Federal Reserve will buy government bonds to stimulate the economy. An announcement is expected Wednesday after the Fed concludes a two-day meeting.

That, in turn, could further weaken the dollar, depending on the amount of money the policymakers decide to put into the economy and the timeframe in which the buying would occur. Since commodities like oil and gold are priced in dollars, a weaker dollar makes them more attractive to buyers who use foreign currencies.

In other Nymex trading in December contracts, heating oil added 1 cent to $2.30 a gallon, gasoline gained 2 cents to $2.11 a gallon and natural gas fell 1 cent to $3.86 per 1,000 cubic feet.

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

[Demeter]

36. 20 cent difference between gas stations today.

so I filled up for $2.75 before lunch.

[ozymandius]

5. Business Looks to Republicans to Block Rules, Taxes

Nov. 3 (Bloomberg) -- The Republican gains in Congress mean U.S. companies from Goldman Sachs Group Inc. to Wellpoint Inc. may be able to weaken or block what they consider President Barack Obama’s anti-business policies on health care, the environment, taxes and financial reform.

Republicans will use their perch as the new majority in the House of Representatives to try to eliminate funding for parts of Obama’s health care bill opposed by business as well as curb regulations and government spending, Jay Timmons, senior vice president of the National Association of Manufacturers, a Washington-based lobbying group, said in an interview before the election.

The results will bolster Republican efforts to extend Bush- era tax cuts for those earning more than $250,000 and to defeat Obama’s proposals to increase taxes on companies’ overseas profits.

more

Expect two years of nothing getting done.

[tclambert]

10. Worse than nothing getting done, the Republicans want to deliberately fail.

That's their winning strategy to take back the White House. If they make everything worse, their propaganda machine will blame Obama, and we could actually, for real, end up with President Sarah Palin! Great Googamooga, how can American voters be so stupid?

I hope gridlock in the government will leave room for the private sector to slowly make progress on its own. If conditions improve despite Congressional efforts, then maybe, maybe Obama can claim some credit. Ah, but it comes down to whose propaganda machine works better at persuading the gullible, doesn't it? And obviously, the Republicans' propaganda machine works better.

Crap.

[DemReadingDU]

24. When economy doesn't get any better, could get worse with Repubs

I'd like to think that people will switch back to voting Dems in 2012.

[Demeter]

37. I 'd like to think there will Be a Country in 2012

but lately I've been having doubts and nightmares....

[ozymandius]

6. Firms That Fought Dodd-Frank May Profit Under Republican House

Nov. 3 (Bloomberg) -- Republicans will try to rein in regulators implementing a sweeping overhaul of financial rules and press for a smaller federal role in the mortgage market as they return to a majority in the House of Representatives and a stronger minority in the Senate.

A slowdown in rule making or added pressure on regulators may benefit companies such as Goldman Sachs Group Inc., JPMorgan Chase & Co. and Bank of America Corp., which lobbied against portions of the Dodd-Frank law and predicted the measure would hurt their financial results.

Republican gains in the Senate may help shape the direction of the new consumer bureau, which will have power to write and enforce rules for banks, mortgage brokers, retailers, credit- card companies, debt collectors and credit-scoring firms.

The Obama administration, which is facing a July deadline to organize the bureau and name a director, may find it more difficult to get the 60 Senate votes needed to win confirmation for its nominee. Elizabeth Warren, the Harvard University law professor championed by consumer and labor groups, was named as a special adviser to help shape the agency after Republicans said they would oppose having her lead it.

Sarcasm alert: Clearly this election sounded an alarm over the concern that banks and insurance companies would be limited in their ways to rip you off.

[Po_d Mainiac]

43. No sanity in an insane marketplace...

SEC adopts rules to curb disruptive error
SEC adopts rules to cut risk of error by brokerage customers with fast market access

WASHINGTON (AP) -- Federal regulators on Wednesday approved new requirements for brokerage firms aimed at curbing risks posed by their trading customers that get split-second access to markets to buy or sell stocks.

The Securities and Exchange Commission voted 5-0 at a public meeting to adopt the new rules. They effectively prohibit brokerages from providing customers with so-called "unfiltered" or "naked" access to exchanges or trading systems.

In arrangements known as sponsored access, brokerages that are approved to trade on exchanges rent out their access to them to unregulated clients such as high-frequency traders.

Those traders use mathematical models to exploit market imbalances and minute price differences. High-frequency trading is estimated to account for more than 50 percent of all U.S. stock trading.

Brokerages will be required to put in controls to reduce risk from their sponsored trading customers stemming from erroneous orders. The potential risks from electronic disruptions in trading at high speeds were showcased in the "flash crash" of May 6, when the Dow Jones industrial average dropped nearly 1,000 points in less than a half-hour.

a little more at link

http://finance.yahoo.com/news/SEC-adopts-rules-to-curb-apf-3784279549.html?x=0&sec=topStories&pos=5&asset=&ccode=

What The SEC failed to do, was ban the HFT's access to the markets. Somehow I doubt that we've seen the last of the 'flash crashes'

[Demeter]

63. Looks Like One Happened Today Around 2:30

[Po_d Mainiac]

75. If $600B fell from a chopper, could it make more noise?

[Demeter]

77. Well, I'd expect the noise to last longer than 30 minutes.

[xchrom]

7. recommend

[ozymandius]

8. For 2010 elections, it’s all about the economy, exit poll shows

Voters were intensely worried about the future of the economy Tuesday and unhappy with the way President Barack Obama and Congress have been running things. They didn't hold a favorable view of either the Republican or Democratic parties, according to an Associated Press analysis of preliminary exit poll results and pre-election polls. Overwhelmingly, people at the polls were dissatisfied with the way the federal government is working, and a fourth said they're angry about it.

Almost everyone surveyed — more than 80 percent — expressed worry about the direction the economy will take over the next year. Still, a majority said their own family's financial situation was the same or better than two years ago, when a recession-plagued nation swept Obama into office and strengthened the Democrats' congressional majorities.

The four out of 10 voters who said things for their families are worse now favored Republican House candidates.

more

Amnesia really has taken hold among these voters who think Republicans are going to fix anything - or even give a shit about the "little people". I am wholly sympathetic with the sentiments expressed by these angry voters, though. Team Obama squandered great opportunities to help people who vote in large numbers. The cognitive capture inside the administration has been focused on helping the banks' profit and bonus levels.

[ozymandius]

9. Reich: 'Obama Failed to Connect the Dots'

Der Spiegel interviews Robert Reich:

SPIEGEL ONLINE: The US goes to the polls on Tuesday for critical mid-term elections. It is a difficult time for the country -- you have said it is facing a "perfect storm." What do you mean by that?

Reich: First, we have got an unprecedented degree of concentrated income and wealth at the very top of our society. The top one-tenth of one percent of Americans now makes more than the bottom 120 million. Secondly, courtesy of a grotesque opinion by the Supreme Court of the United States, we now have virtually unlimited money flowing from the rich and from corporations through secret devices that make it impossible to know who is contributing what to various campaigns and to advertising for and against various candidates. Such anonymous groups have spent more than $400 million on the latest election, according to estimates. And finally, we have a broad electorate still unemployed or in danger of being unemployed, still in danger of losing their homes or already having lost their homes, still experiencing a major drop in their savings or their net worth. This frustrated and anxious population is easy prey to demagogues who will blame others for their problems rather than explain what needs to be done.

SPIEGEL ONLINE: In other words, it is no surprise that candidates opposing government spending appear likely to win many of the open Congressional seats.

Reich: This is one of the areas that are very easy to demagogue. By accusing government of being the enemy and promising people that if we simply shrink government they will be better, some politicians and ideologues are attempting to improve their own positions of power. They are misleading the voters. We know that when the private sector is unwilling or unable to spend and when consumers are under a huge debt load, government is the last remaining spender, at least in the short term. Longterm deficits do have to be reduced, but unless we get the economy growing in the short term through government spending, we're all going to be experiencing a much longer and more painful socalled recovery. We need a bigger stimulus now.

This is not a hindsight interview. This was posted on Monday.

[Kolesar]

14. Sell ... eom

[ozymandius]

11. Gotta run...

Please try to have a nice day as we sift through the many ways that things have turned out so poorly for the party that traditionally has tried to help people. There is one silver lining to all this: the Blue Dogs have been decimated. Good riddance to the whole lot of them.

:hi:

[boomerbust]

17. Even Feingold got drubbed

Go figure. Not so proud Cheesehead this morning.

[florida08]

18. was really sad about that

Have enormous respect for Russ..but we have a medicare defrauder for governor so no joy in the now default sunshine state.

[Demeter]

25. A Silver Lining

Unfortunately, so have the few Progressives we had.

[Festivito]

12. Debt: 11/01/2010 13,713,087,906,377.36 (UP 44,262,409,036.00) (Mon)

(Up a lot. Good day.)
Ahhh, a hotel with a pool.
(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)
= 9,133,022,353,341.35 + 4,580,065,553,036.01
UP 63,143,305,537.83 + DOWN 18,880,896,501.83

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 311-Million person America.
If every American, man, woman and child puts in $3.22 THAT'S 1B$, and $3,219.48 makes 1T$.
A family of three: Mom, Dad, Child: $9.66, ABOUT TEN BUCKS for a 1B$ 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 310,608,992 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 $44,149.04.
A family of three owes $132,447.11. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 21 reports in the last 30 to 31 days.
The average for the last 21 reports is 4,868,586,693.68.
The average for the last 30 days would be 3,408,010,685.58.
The average for the last 31 days would be 3,298,074,857.01.
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$/day.
There were 272 reports in 397 days of FY2011 averaging 6.63B$ per report, 4.54B$/day.
Above line should be okay

PROJECTION:
There are 811 days remaining in this Obama 1st term.
By that time the debt could be between 14.8 and 17.9T$.
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)
11/01/2010 13,713,087,906,377.36 BHO (UP 3,086,210,857,464.28 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 +0,151,464,875,485.60 ------------* * * BHO
Endof11 +18,840,775,624,803.10 ------------| | | | | | | | | | | | | | | | | | per 1B Too much to predict at this time.

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
10/12/2010 -002,308,905,840.19 -- Tue
10/13/2010 +004,079,531,881.58 ------------*********
10/14/2010 -003,450,466,367.69 --
10/15/2010 +053,297,374,376.50 ------------**********
10/18/2010 +000,841,690,317.23 ------------******** Mon
10/19/2010 +000,443,038,294.93 ------------********
10/20/2010 +001,330,613,152.94 ------------*********
10/21/2010 -003,241,964,507.19 --
10/22/2010 -000,039,023,333.21 ----
10/25/2010 +000,057,456,608.35 ------------******* Mon
10/26/2010 +000,564,111,327.93 ------------********
10/27/2010 +000,111,394,550.30 ------------********
10/28/2010 -000,237,760,056.32 ---
10/29/2010 +010,778,095,157.00 ------------**********
11/01/2010 +063,143,305,537.83 ------------********** Mon

125,368,491,099.99 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=4596801&mesg_id=4596815

[Festivito]

78. Debt: 11/02/2010 13,723,974,060,859.22 (UP 10,886,154,481.86) (Tue)

(Up a little. Good day.)
Ahhh, a hotel with a pool, but took little time 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)
= 9,133,584,590,439.72 + 4,590,389,470,419.50
UP 562,237,098.37 + UP 10,323,917,383.49

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 311-Million person America.
If every American, man, woman and child puts in $3.22 THAT'S 1B$, and $3,219.41 makes 1T$.
A family of three: Mom, Dad, Child: $9.66, ABOUT TEN BUCKS for a 1B$ 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 310,616,192 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 $44,183.06.
A family of three owes $132,549.18. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 22 reports in the last 30 to 32 days.
The average for the last 22 reports is 5,142,112,502.24.
The average for the last 30 days would be 3,770,882,501.64.
The average for the last 32 days would be 3,535,202,345.29.
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$/day.
There were 273 reports in 398 days of FY2011 averaging 6.65B$ per report, 4.56B$/day.
Above line should be okay

PROJECTION:
There are 810 days remaining in this Obama 1st term.
By that time the debt could be between 14.8 and 17.9T$.
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)
11/02/2010 13,723,974,060,859.22 BHO (UP 3,097,097,011,946.14 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 +0,162,351,029,967.50 ------------* * * * BHO
Endof11 +18,269,843,030,112.10 ------------| | | | | | | | | | | | | | | | | | per 1B Too much to predict at this time.

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
10/13/2010 +004,079,531,881.58 ------------*********
10/14/2010 -003,450,466,367.69 --
10/15/2010 +053,297,374,376.50 ------------**********
10/18/2010 +000,841,690,317.23 ------------******** Mon
10/19/2010 +000,443,038,294.93 ------------********
10/20/2010 +001,330,613,152.94 ------------*********
10/21/2010 -003,241,964,507.19 --
10/22/2010 -000,039,023,333.21 ----
10/25/2010 +000,057,456,608.35 ------------******* Mon
10/26/2010 +000,564,111,327.93 ------------********
10/27/2010 +000,111,394,550.30 ------------********
10/28/2010 -000,237,760,056.32 ---
10/29/2010 +010,778,095,157.00 ------------**********
11/01/2010 +063,143,305,537.83 ------------********** Mon
11/02/2010 +000,562,237,098.37 ------------********

128,239,634,038.55 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=4598395&mesg_id=4598436

[Festivito]

84. Debt: 11/03/2010 13,718,711,829,904.32 (DOWN 5,262,230,954.90) (Wed)

(Down a little. Good day.)
Needed underwear and socks.
(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)
= 9,133,542,345,619.01 + 4,585,169,484,285.31
DOWN 42,244,820.71 + DOWN 5,219,986,134.19

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 311-Million person America.
If every American, man, woman and child puts in $3.22 THAT'S 1B$, and $3,219.33 makes 1T$.
A family of three: Mom, Dad, Child: $9.66, ABOUT TEN BUCKS for a 1B$ 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 310,623,392 people in America.
http://www.census.gov/population/www/popclockus.html ON 10/04/2010 04:37 -> 310,403,677
Currently, each of these Americans owe $44,165.1.
A family of three owes $132,495.29. (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 4,689,749,743.23.
The average for the last 30 days would be 3,595,474,803.14.
The average for the last 33 days would be 3,268,613,457.40.
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$/day.
There were 274 reports in 399 days of FY2011 averaging 6.60B$ per report, 4.53B$/day.
Above line should be okay

PROJECTION:
There are 809 days remaining in this Obama 1st term.
By that time the debt could be between 14.8 and 17.9T$.
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)
11/03/2010 13,718,711,829,904.32 BHO (UP 3,091,834,780,991.24 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 +0,157,088,799,012.60 ------------* * * BHO
Endof11 +17,732,494,705,697.10 ------------| | | | | | | | | | | | | | | | | per 1B Too much to predict at this time.

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
10/14/2010 -003,450,466,367.69 --
10/15/2010 +053,297,374,376.50 ------------**********
10/18/2010 +000,841,690,317.23 ------------******** Mon
10/19/2010 +000,443,038,294.93 ------------********
10/20/2010 +001,330,613,152.94 ------------*********
10/21/2010 -003,241,964,507.19 --
10/22/2010 -000,039,023,333.21 ----
10/25/2010 +000,057,456,608.35 ------------******* Mon
10/26/2010 +000,564,111,327.93 ------------********
10/27/2010 +000,111,394,550.30 ------------********
10/28/2010 -000,237,760,056.32 ---
10/29/2010 +010,778,095,157.00 ------------**********
11/01/2010 +063,143,305,537.83 ------------********** Mon
11/02/2010 +000,562,237,098.37 ------------********
11/03/2010 -000,042,244,820.71 ----

124,117,857,336.26 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=4598395&mesg_id=4599752

[florida08]

15. low voter turnout here

Florida has about 11 million registered voters out of 17 million citizens. About 4.5 million voted, but am very excited about all those jobs the gopstoppers are going to fetch

[Po_d Mainiac]

22. Asia/Europe are dollar down..look for another market melt up day...n/t

[mnhtnbb]

26. GOP took control of NC State Legislature--first time since 1898.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x4598529

[Demeter]

28. Fannie, Freddie Cut Ties to Law Firm

http://online.wsj.com/article/SB10001424052748704462704575590342587988742.html?mod=WSJ_myyahoo_module



Fannie Mae and Freddie Mac terminated their relationships with a top Florida foreclosure attorney on Tuesday, one day after the companies began taking back loan files from the firm that has processed thousands of evictions on behalf of the mortgage-finance giants.

Fannie and Freddie dispatched employees on Monday afternoon to begin removing loan files from the law offices of David J. Stern in Plantation, Fla. Those files are needed to process foreclosures, which must be done through courts in Florida.

Fannie and Freddie said they would begin redistributing the files to other local attorneys in a bid to resume evictions. Last month, the companies suspended all foreclosures that had been referred to the Stern law firm and had directed mortgage servicers, which handle day-to-day loan management, to stop sending new foreclosure and bankruptcy cases to the firm...A spokeswoman for Freddie Mac, Sharon McHale, said it took the rare step on Monday of beginning to remove loan files after an internal review raised "concerns about some of the practices at the Stern firm." She added that Freddie Mac took possession of its files "to protect our interest in those loans as well as those of borrowers."

The Stern law firm has been at the center of allegations by the Florida attorney general's office of improper foreclosure practices and is one of four firms under state investigation. The office has released depositions of former law-firm employees who have alleged that the firm forged notarized documents and that employees signed files without reviewing them in an effort to speed through foreclosure filings...

THE PROBLEM, DEAR FANNIE AND FREDDIE, LIES NOT IN OUR LAYWERS, BUT IN OURSELVES, THAT WE COLLABORATED IN THE BIGGEST FRAUD EVER PERPETRATED ON THE ENTIRE WORLD SINCE RELIGION...APOLOGIES TO BILL SHAKESPEARE FOR THE PLAGIARISM.

[Hugin]

29. PSA: The casino will remain open!

The Markets rejoice.

That is all... Carry on.

[fasttense]

30. Our rich oligarchy were mildly amused yesterday.

All signs (The Stock Market indices and the RepubliCON gains in the house) point to their continued enjoyment.

[Tansy_Gold]

31. I'm sorry I haven't been around DU more lately

Not that I could have single-handedly changed anything much that happened yesterday, but I've been caught up in the flurry of activity that surrounds the Sept-Dec arts and crafts fair season, as well as trying to keep my head above water with the real day job, which sucks.

As I said often enough last night, and have said often enough in the past, there are far too few people (outside of SMW anyway) who understand that the goal of the rightwing elites is to destroy America. They do not love the noble experiment in democracy. They loathe it, and they want it destroyed.

And I will say again, to all who are reading this, if you haven't read Atlas Shrugged, do so ASAP. This is their blueprint. It is not a science fiction novel about a guy who invents a machine to make household electric current from static electricity, or a guy who developes a new kind of steel or even about a woman who runs a railroad and gets a thrill over being raped in a train station. It's Ayn Rand's version of "How to Serve Man": it's a cook book for how to destroy a democracy.

But it's also a portrait of what they consider the ideal leader -- a person (generally a man) who has no concern for ANYTHING but himself. Laws mean nothing to him. Other people mean nothing to him. he cares for nothing but himself, his desires, his wishes, his wants.

You've got that in Rand Paul.

In Atlas Shrugged, the "hero," John Galt, makes a radio speech in which he lays out his philosophy. Immediately after the speech, the "leaders" of the country beg him to tell them what to do to save it. He tells them "Get out of my way." They won't do that, of course, and so he continues on his path of destroying EVERYTHING.

The book ends with the destruction everything that most of us would recognize as American, as Galt and his few cronies set out to "rebuild" it.

But there is no rebuilding. All that matters is the destruction. And that process has been set in motion once again. It may have been stalled for a few years while Obama played at being president with a huge majority in congress, but it will crank up its machinery again now that Obama has lost the massive support his agenda had in the House.

With the GOP victories will come redistricting, of course, and the Dems will lose there in an even worse bloodbath. We should know that the gooopers show no mercy. THEY DON'T CARE. Get any lingering illusions about compassionate conservatism out of your heads and out of the dialogue. THEY DON'T CARE.

When you've finished reading Atlas Shrugged, read Bob Altemeyer's The Authoritarians, available free online. Then you will understand how very very difficult it is to work with and/or reason with the wingnuts. They do not operate on the same mental wavelength we do. You might as well talk to your dog about politics as talk to your rightwing "friends."

Someone posted last night that we should not have been surprised to see Russ Feingold defeated. Wisconsin, outside of Madison and perhaps part of Milwaukee, is rural and conservative. And that's probably true. Wisconsin gave us Bob LaFollette but it also gave us Joe McCarthy. Whose legacy endures?

It's going to get worse before it gets better. Some of us are in positions where we can weather a substantial economic storm. Others, not so much. But I think if there is anything that will change the mood of the masses, it is not political rhetoric. It is the popular culture, whether in the form of the newest i-gadget or the latest "reality" show.

A few weeks ago I watched my 5 1/2 year old grandson throw a tantrum in a restaurant because his mother wouldn't let him play video games on her iPhone. When she finally relented -- she always does which is why he throws the tantrums -- he sat in mesmerized silence, drugged by the little lights and the reality of his pleasure.

I get very upset when I read DU posts complaining about "seniors" who get out and vote and vote for fellow old people (who else has the money to run???) when it should be the "young people" taking charge of their world. Well, hey, young folks, ain't nobody stoppin' you from gettin' off your asses and casting your ballots.

I'm 62. I voted. I know how to use a computer. I don't have an iPhone because I don't need one and I can't afford one. How's that for blunt honesty? And you all here know that AnneD and I have joked about our little presidential campaign. And you all here know that both Anne and I have our personal plates full with family obligations and job issues. But again, as I've said so many times, it's the popular culture that controls the minds of the masses, and maybe today is the day to make that campaign a more serious joke.

Maybe.

We'll see.

The day job calls, and the local art tour is this week-end, for which I am not ready. The front yard is full of mesquite beans and there are weeds along the roadside. Guess I'd better get my ass in gear.



Tansy Gold, 2012

[florida08]

32. Just talked to my better half on the phone

He works among the wingnuts. They were all joyous in their celebration of their selections. They asked why he was quiet and he he told them this: "How the hell do you have someone who defrauded Florida medicare out of billions..run for governor and win"? He said that shut them up.

[Roland99]

34. Murdoch must be beside himself with joy today. His Faux News network has been successful...

in overcoming rational thought in Americans.

[florida08]

42. Hi Ro

couldn't have stated it any better. Feels almost like 2000 again ;( . But honestly the administration cut their own throats along with ours. I have no idea what the potus will say today at 1 pm but it won't be inspiring.

[Roland99]

33. I've been thinking that same thing today, T_G. And also this....

I've been reading Crime and Punishment and there's a bit of Rodion Raskolnikov in there, too, in the meaning that his character expresses a sentiment that there are certain people who feel they can break the law, even commit murder, and claim some sort of inner morality in doing so.

[snot]

45. Giving in to tantrums -- a little lesson there, too, as I'm sure you intended.

[Tansy_Gold]

46. Well, no, not really intended. The tantrum thing, that is.

And therefore, I'm not quite sure how you read it!

Is it that the pukes always throw tantrums and the Dems give in to them?

Or is that maybe the Dems need to start throwing tantrums of their own?

Y'know, as I've wandered around DU this morning -- ignoring my horrible boring disgusting paid work -- I've noticed that there is some real bitterness out there. I cna't say too much, not even in the friendly confines of SMW, or risk being alerted on. But I think some of the blind supporters are feeling even more than usual the sting of the criticism against their beloved. This may be a teachable moment for some of them, or just a momentary aberration.

But I also said to the BF yesterday afternoon, before the returns started coming in, that I think Obama knew he wasn't really ready for all this but also knew he wouldn't have another such chance. Had he not run in '08 and let Hillary take the nomination, he could probably have brokered a deal for VP. I don't think the pukes could have beaten that duo. And I think Obama knew it. The pukes didn't have a single candidate who could have touched them nor even come close.

But as Hillary's VP, he'd have had to wait eight years (barring unforeseen changes), during which time his personal momentum may have been lost. So he'd have settled for VP but when it looked like he could have it all, he took it. But because he didn't have the experience or the political infrastructure, he fell prey to the existing machine. And he wasn't personally strong enough to resist them.

There's a certain safety in knowing you can't win, and there's always that moment after victory when "OMFG, whadooIdoonow?" sets in. I think Obama, like the Tarot Fool, repressed that uncertainty and is headed blithely for the cliff. Unfortunately, he's gonna take a lot of us with him.


Tantrums might not be a bad thing.



TG, NTY

[JNelson6563]

47. Are you by chance a PUMA?

Just curious.

Thanks for keeping the bulk of the ugliness on you mind out of the Stock thread. I come here to escape all that.

Julie

[Tansy_Gold]

48. I didn't even know what a PUMA was until about six months ago

And no, I'm not one. But thanks for asking.

Are you suggesting my opinion is not welcome here in SMW? if so, I'll be glad to remove myself. I don't like to be where I'm not wanted.



Tansy Gold

[Dr.Phool]

54. You ain't going anywhere Tansy.

We ain't gonna let you!

:pals:

[Tansy_Gold]

56. .

:grouphug:

[hamerfan]

58. Seconded!

Tansy, stay here!
You, Ozy, The Watcher, Demeter. the good Doctor, and the rest of the SMW regulars are the reason I lurk here. I want my truth unfiltered and unadulterated, thank you very much. Believe it or not, this old dog learns a lot in this thread and it helps.
BTW, I have no idea what a PUMA is, or what the NYT in your tag line stands for.
But I have a better idea of the financial field and the political field by being here.
THANK YOU to ALL the regulars who contribute! Ponies and hugs to all.
:grouphug:

hamerfan

[Tansy_Gold]

59. LOLOLOLOL

It's not "NYT" -- It's NTY, as in Not Tombstoned Yet. It's from that period some months back when a bunch of people were getting pissed off at. . . .issues.

"PUMA," as I found out last spring or so when someone laid that accusation on me, stands for "Party Unity My Ass" and apparently refers to Hillary Clinton and her intention -- true or not -- to buck the Democratic party if she didn't get her way in the primaries. I could be wrong, maybe it means something else, but that's what I found.

Believe me, I ain't no PUMA.



TG, admiring her pony.

[Demeter]

64. Tansy Gold, New York Times!

I swan.....that will be the day, perhaps after you've retired from the Presidency.

[Po_d Mainiac]

61. Amen to that. Besides, I owe her some flies n/t

[JNelson6563]

82. Oh my dear, no!!

I am very sorry if I miscommunicated so badly you thought I was trying to tell you you were not welcome here, that is not the case at all!

My apologies.

Julie

[snot]

81. You always have an interesting take on things --

Dam' free thinker.

No, don't you think of leaving us.

Ok, what's a PUMA?

[TalkingDog]

35. post election results:

ARE YOU NOT ENTERTAINED?
IS THIS NOT WHY YOU ARE HERE?

[Demeter]

38. We All Knew, Beneath Our Hope, That this Day Was Preordained

The first sign was the selection of Joe Biden as VP, the second was Rahm "F--Retard" Emanuel as Chief of Staff.

Then there was the economic team of Larry, Moe and Curly....and it all went downhill from there.

Despite our best efforts at announcing the wolf at the door, we have failed to persuade a majority that they are going about governance the wrong way.

So it's back to step 1: protect your loved ones and stay alive and free; and step 2: spread facts and proposals for fixing the mess to identify and support allies.

I can't wait to see which foreign power will take the US over...assuming they aren't all wholly owned subsidiaries of Banks and Corporations...

[florida08]

39. +1000

[Demeter]

40. Or as Oliphant Notes: He doesn't read signs very well...

http://imgsrv.gocomics.com/dim/?fh=4e56e857facc3f24409a6070230761c8&w=750.0

[Po_d Mainiac]

69. You done "The Gods Must Be Crazy" yet? n/t

[Demeter]

72. Every Day Since Reagan

[hamerfan]

73. LOL! Love it!

Still it'd be a GREAT topic for WEE. So many directions that title could take readers/contributors....

[Po_d Mainiac]

74. Geez, I didn't mean the obvious...WEE..now scuse me while I clean the keyboard up.

[nc4bo]

41. It had been predicted for quite some time now but it fell on deaf ears..

No one towing a (D) behind their name should be surprised.

I feel really rotten this morning and the little glimmer of hope has turned into a lump a black coal.

[Hawkowl]

44. Indeed

If history is a guide, the empire won't be conquered, we will simply disintegrate. Hopefully peacefully like the British empire, or even like the old USSR. Worst case is Yugoslavia writ large. I really believe that there is simply too many differences between the old north and south, coast and interior. I've been saying that Obama most resembles Hoover, but it may be that Obama goes down as the Buchanan of the 21st century.

[spotbird]

49. Can anyone suggest a source for investment advice

that acknowledges the reality of the coming catastrophe? There are countless places with information about the problem, but hardly any that suggest what people can do about it.

[tclambert]

51. The way I'm feeling right now, I'm looking to TheWatcher for advice.

I know. My wife already took my shoelaces.

Personally, I can't decide what to expect: irrational exuberance from celebrating Republicans, or a wait and see attitude from the smart money, followed by a slide as they realize reducing unemployment and economic growth aren't Republican strengths.

It appears the really smart money invests in politicians.

[SarahB]

52. If we're right about the reality, then the truth is

there is no safe investment, except in your local communities.

[InkAddict]

70. Here you go.....

http://www.dispatch.com/live/content/business/stories/2010/11/03/ready-to-say-goodbye.html?sid=101

Bidders will have a chance to get some one-of-a-kind models, such as 12 Corvettes that bear the serial number "1," meaning they were the first to come off the production line for their model year. He also owns at least one of every Corvette model year since the model began in 1953.

The sale will go well beyond Corvettes, though, with models that predate the distinctive sports car, such as the Chevrolet S6, a two-door roadster from 1932.

[StarburstClock]

60. Read the bright red print at the top of the page, amateur advice is illegal. Plus,

real financial advisers and managers get paid big bucks, they don't work for free and don't brag about their tiny personal investments on a board. You get opinions here, most are informed. You decide what to do from there. The "coming catastrophe" is what exactly? The entire financial system already went broke, was bailed out by the U.S. taxpayer via bank bailouts and permission to trade anything illegally and is still completely propped up by a Federal Reserve shell game of moving debt around, BS accounting and propaganda-fueled misinformation.

Real estate is a fraud, banking is a fraud, Wall St is full of frauds, government is a fraud, elections are a fraud, 2 wars are frauds, the entire health care system is a for-profit fraud, insurance is usually a fraud -- especially financial insurance of derivatives, precious metals are manipulated as are currencies and oil, the media in the U.S. is a fraud: in fact any typical public company in the U.S. is a fraud who's only incentive is to please "investors" who are now speculative frauds on a massive scale.

So, in this mass of criminally insane and thoroughly brainwashed citizenry where exactly do you expect to get "advice"?

[tclambert]

62. So . . . invest in fraud?

Sounds like it's a growth industry.

[TheWatcher]

66. It's really the only growth industry we have left other than "Security" and The Police State

[Po_d Mainiac]

71. Maybe Fraud has a downside :GRIN:

snip
According to the complaint, JP Morgan amassed a sizeable short position in silver futures and options in part through its March 2008 acquisition of investment bank Bear Stearns. By August 2008, JP Morgan and London-based HSBC controlled more than 85 percent of the commercial net short position in silver futures contracts.

The suit alleges that, starting in early 2008, the two banks began manipulating the silver futures market by accumulating unusually large "short" positions and then secretly coordinating enormous sales of silver futures contracts on the Commodity Exchange, which is known as "COMEX" and is part of the New York Mercantile Exchange.

lots more at ZH
http://www.zerohedge.com/article/rico-suit-filed-against-hsbc-and-jpmorgan-silver-market-manipulation

[Demeter]

76. that was unbelievable

Unbelievable that after the Hunt brothers, anyone would be ALLOWED to do this and not get the Furies on their tender parts.

But then, this is a lawless land, riven by pirates. It is only a fairytale we tell ourselves that this is a nation of laws that apply to all within it. Speaking of fairy tales...

I came back this evening from another "emergency" meeting of the board. I was appalled to discover that some of the board are living in a fantasy world, where commercial loans are "assumable", and bankers just want to be landlords, especially when they are under the FDIC gun of a cease and desist order, and all other kinds of unnatural and horribly unbusiness-like schemes are as plausible and likely as the boring dollar-and-cents realities. I am afraid I was quite candid and hurt some California-style hippie feelings.

Tinkerbell wants to ask lawyers for references of satisfied clients, as if lawyers were in the same category as plumbers or housecleaners....

I'll tell you, it's a good thing I don't run to migraines. I am afraid I have really offended this woman who is just months younger than I. But I am really thinking that she is more suited for quilting parties than for business...

but on the other hand, the first offense was hers in ignoring my pleas for assistance until it was really too late to prevent some very serious consequences, and she's STILL ignoring my messages...

I'm not smart enough to deal with this kind of mental blockage....she wants respect, but is unwilling to listen in turn to FACT, cold hard fact. Is a puzzlement. She disses me at every turn. I'm not sure that winning her over is a good idea, either. Maybe since her term is up, she'll quit.

[StarburstClock]

79. I'm sure you will "invest" in anything you're told

A lot of people should do just that because they can't figure things out for themselves. Dr. Ray Elder said in his book "Trading For a Living" that when someone asked him where they should put their money he answered "in someone's hands who knows what they're doing".

Did you ever read the BRIGHT RED PRINT at the top of the page? My guess is you have not, too busy looking for a quick buck to bother reading and learning anything.

[spotbird]

68. Where did I request

amateur advice? If I knew the answer to your final question, I wouldn't have asked for direction to a reliable source.

[StarburstClock]

80. BRIGHT RED PRINT AT TOP OF THE PAGE

It's hard to miss but hey, at least ozzy put it there to be ignored right?

[spotbird]

83. You are mistaken,

I requested a source, as in a reference, at no point did I request "amateur" anything. People could have suggested CNBC, Goldman Sachs, or less criminal sites or even a professional planning site. As an adult, I could weigh those sources accordingly. I did not ask anyone here for advice, only for sources for advice. It is unfortunate that you can't distinguish between the two.

[kickysnana]

65. xpost GD Psychological Inoculation For A Century Of Challenges

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=103x567671

Saw; this posted earlier.
Has to be true it is on the internets
:shrug:
I think we have to make it up as we go along now. But again that is just another anonymous poster on the internet talking.

[hamerfan]

67. Thanks for the link, kickysnana!

True or not (and I believe it to be), there is good advice for whatever tomorrow brings.

[tclambert]

50. What happened at 2:20 today?

All the indices showed a sudden dip for about 10 minutes, then came back up. It looks like a freakin' EKG.

[Po_d Mainiac]

55. Look at the U.S $ INDEX (NYBOT:DX)

That was the sound of QE part deux.....

http://quotes.ino.com/chart/?s=NYBOT_DX

[Roland99]

53. Euro tops $1.41.

[TexasObserver]

85. 11,434.84