STOCK MARKET WATCH, Wednesday December 1

[ozymandius]

Source: du

STOCK MARKET WATCH, Wednesday December 1, 2010

AT THE CLOSING BELL ON November 30, 2010

Dow 11,006.02 -46.47 (-0.42%)
Nasdaq 2,498.23 -26.99 (-1.08%)
S&P 500 1,180.55 -7.21 (-0.61%)
10-Yr Bond... 2.86 +0.06 (+2.22%)
30-Year Bond 4.16 +0.05 (+1.17%)

---

Market Conditions During Trading Hours

Euro, Yen, Loonie, Silver and Gold

---

Handy Links - Market Data and News:Economic Calendar    Marketwatch Data    Bloomberg Economic News    Yahoo! Finance    Google Finance    Bank Tracker    
Credit Union Tracker    Daily Job Cuts

Handy Links - Economic Blogs:
The Big Picture    Financial Sense    Calculated Risk    Naked Capitalism    Credit Writedowns
Brad DeLong      Bonddad    Atrios    goldmansachs666    The Stand-Up Economist

Handy Links - Government Issues:
LegitGov    Open Government    Earmark Database    USA spending.gov

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

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

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

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

---

---

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

[Dr.Phool]

2. Good morning Ozy, and everyone.

Well, I see Dear Not Leader has appointed another committee to tell him what he thinks about tax cuts. I want a refund. I knew I was buying a defective product, but it was the only one left. And it works worse than I expected, if at all.

My only other choice was an inflatable doll, that made an incomprehensible racket. It's the last time I shop at that particular store. They used to sell some good shit, but now it's all overpriced junk.

[ozymandius]

4. Good morning, Dr. Phool and everyone.

Another commission? I've seen this movie before and want my money back. Do you have a link to some news item?

:donut: :donut: :donut: (almost forgot the doughnuts and coffee!)

[Dr.Phool]

5. Not a commission, a committee.

It was on NBC news at about 4:00am this morning.

They're going to go over the various proposals on the Bush tax cuts, and report back to him in a few days.

Care to make any wagers?

-----------------------------------------------------------------

Leader:

noun

1. a person who rules or guides or inspires others
2. a featured article of merchandise sold at a loss in order to draw customers

synonyms
drawing card, loss leader
antonyms
follower

[ozymandius]

7. That word, 'committee', has such horrible connotations.

In the early years of the Chinese communist regime under Chairman Mao, national music was composed by committee. That's why we never hear any of it. It was just that awful.

The Wildebeest has been described as an animal, composed of spare parts, designed by a committee.

Ahh. How I wish that we had leaders who would make decisions without dawdling over the process from fear of making the wrong decision.

[MattSh]

13. Which guarantees...

That the decision WILL be wrong. But hey, this way, no one person has to take the blame.

[tclambert]

15. A committee is the only known form of life with a hundred bellies and no brain.

--Lazarus Long (as recorded by Robert Heinlein).

[Po_d Mainiac]

20. and the sole reason we all have

a tooth brush...Instead of a "teeth" brush

[Dr.Phool]

32. It was invented in West Virginia.

Hence, the term tooth.


Question: What has 264 arms, 264 legs, and 18 teeth?

Answer: The front 3 rows at the Grand Ole Opry.

[Po_d Mainiac]

45. Obviously you've never witnessed the our local 4th of July Parade

:hide:

[InkAddict]

29. The solution is simple: 42 n/t

[saigon68]

9. Wagers??

We'll have the Chimpanzee's Tax Cuts extended for EVERYONE for 2 more years

[Dr.Phool]

12. I won't take that bet.

You know it's going to happen.

And, I'm willing to raise you one inheritance tax!

[saigon68]

47. LOL

Robert Gibbs Signals Temporary Extension of All Tax Cuts

Listen closely to Robert Gibbs on "GMA" this morning and it’s pretty clear that the only outstanding question on those tax cuts expiring on December 31st isn’t whether they will all be extended but for how long.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x4637163

[Po_d Mainiac]

16. we best brace ourselves

Da prez already took his blow to the chin

[Demeter]

57. Taxing the Rich: It’s All Relative

http://www.nytimes.com/2010/11/28/business/28view.html?ref=business

DON'T WORRY, BE HAPPY

http://www.youtube.com/watch?v=5bNE-5TVAmg

[ozymandius]

3. 2 Million Unemployed Lose Benefits Today

Extended unemployment benefits for nearly 2 million Americans begin to run out Wednesday, cutting off a steady stream of income and guaranteeing a dismal holiday season for people already struggling with bills they cannot pay.

The average weekly unemployment benefit in the U.S. is $302.90, though it varies widely depending on how states calculate the payment. Because of supplemental state programs and other factors, it's hard to know for sure who will lose their benefits at any given time. But the Labor Department estimates that, without a Congress-approved extension, about 2 million people will be cut off by Christmas.

Congressional opponents of extending the benefits beyond this month say fiscal responsibility should come first. Republicans in the House and Senate, along with a handful of conservative Democrats, say they're open to extending benefits, but not if it means adding to the $13.8 trillion national debt.

more

The personal stories that accompany this article are gut wrenching. As a student of history, the political angle of this story reminds me of the "bad ol' days" in Georgia when Dixiecrats made public policy decisions that were more appealing to their imaginary view of the world rather than the world where their constituents live.

[Dr.Phool]

11. What have we become?

That's about 2 million families to start off with, who will be skipping the malls this year. Not to mention all of the gloating going on in Jonestown about the federal pay freeze.

I thought that Democrats were the opposite of Republicans, and could empathize with peoples troubles. I think these people are really Yuppie Republicans, who would be carrying Michael Steele Fan Club cards, had their base not gone so batshit crazy.

[DemReadingDU]

19. the 2-class society

the have the mostest, and the have nothings

[Hawkowl]

64. I am flabbergasted

And completely disheartened at the vitriol towards federal workers over in Jonestown. The stupidity I expect, but the gleeful maliciousness is horrifying.

I agree with you and think that Obama's bipartisanship and "centrism" is simply attracting mean spirited, ignorant, former republicans, leaving democrats nowhere to go.

[ozymandius]

6. The Fed Reveals Bailout Details Today

WASHINGTON (Reuters) – The Federal Reserve on Wednesday will have to disclose details about emergency loans made during the 2007-2009 financial meltdown, including who borrowed how much and what collateral was offered in return.

The findings, which must be revealed in accordance with a deadline set by a wide-ranging rewrite of U.S. financial rules enacted in July, could shed light on who benefited most from central bank's controversial efforts to support financial institutions and credit markets.

Through it all, the Fed was criticized for being too close to the banking sector, while not doing enough to support the broader economy. In recent months the financial sector has recovered smartly but that rebound has failed to translate into a vigorous economic expansion.

more

Who does not expect the Fed to release its report with all the honesty of a magic trick?

We already know some of the details from a FRBNY release that shows how banking authorities accepted garbage as collateral for backstop guarantees. Links to stories relative to this issue are here, here, here and here.

[Roland99]

31. It'll be dragged out like those additional torture photos/videos that never ended up being released.

[DemReadingDU]

33. more from ZeroHedge

12/1/10 Fed To Announce Details Of $3.3 Trillion Bank Bailout Package At Noon

One part of Mark Pittman's legacy is about to come to fruition. At noon today, the Fed will provide an information dump identifying recipients of $3.3 trillion in emergency aid which it dispensed as per its interpretation of its mandate following the Lehman collapse. From Bloomberg (see link below): "The data will probably show the magnitude of central bank support to companies including Bank of America Corp. and General Electric Co. after the collapse of Lehman Brothers Holdings Inc. spurred a surge in private borrowing costs. Lawmakers demanded disclosure after the Fed approved aid dwarfing the federal government’s $700 billion Troubled Asset Relief Program."

Not all data will be available, however: all important discount window information will not be included as part of this package: "Congress excluded one Fed program from disclosure, the discount window, which is the subject of a 2008 lawsuit filed by Bloomberg LP, parent of Bloomberg News, against the central bank.

A group of banks is appealing to the Supreme Court over lower-court decisions ordering the Fed to identify loan recipients. The program peaked at $110.7 billion in October 2008." Since today’s information relates to aid from Dec. 1, 2007, through July 21, 2010, there will be enough information to satisfy the most detail-oriented forensic reverse engineers.

No matter how this is spun it will not be beneficial to banks, as it will merely reinforce public anger as the media circuit discusses how the public provided $3.3 trillion in aid to a banking system which as we reported previously is about to experience another surging bonus season.

http://www.zerohedge.com/article/fed-announce-details-33-trillion-bank-bailout-package-noon


and the related Bloomberg article

12/1/10
The Federal Reserve, under orders from Congress, plans today to identify recipients of $3.3 trillion in emergency aid the central bank provided as it fought the worst financial crisis since the Great Depression.
more...
http://www.bloomberg.com/news/2010-12-01/fed-will-name-recipients-of-3-3-trillion-in-emergency-aid-during-crisis.html

[Demeter]

51. With the DOW up 240+ at 1:30, doesn't look like anybody really cares.

[xchrom]

8. recommend

and you get a donut for that quip about all the honesty of a magic trick.

[ozymandius]

10. Bernanke Worried About Unemployment

Did someone conk him in the head? Have we evidence that Bernanke is worried that the Fed's efforts to stimulate the economy with $2.3 Trillion of quantitative easing have not stimulated much of anything except bankster bonuses.

From an AP article:

COLUMBUS, Ohio – The economy isn't growing fast enough to significantly reduce unemployment and low consumer confidence remains a barrier to a faster recovery, Federal Reserve Chairman Ben Bernanke said Tuesday at an event at Ohio State University.

Bernanke said the economy needs growth of 2 percent to 2.5 percent just to create enough jobs to accommodate new people looking for work.

Bernanke also signaled concern about the 6.2 million people unemployed for more than six months, who amount to 42 percent of all unemployed Americans.

more

We need ~130K jobs to be created every month just to keep pace with population growth (as in workers entering the workforce). That job creation number needs to be much higher to recoup job losses over the past three years. That just is not happening. So two questions stand: How did Bernanke notice the elephant in the room? Why does he suddenly seem to care?

[Dr.Phool]

14. Maybe it's his (future) unemployment he's worried about.

He could be replaced by a bust of Ronald Reagan and Ayn Rand, and nobody would notice the difference. Well, Rand didn't have a beard.

But, hey, if Douglas Feith can land a job, he shouldn't worry.

[kickysnana]

18. Our local Gnus was saying only 1 job for every 5 unemployed...

what they didn't say was that was a $9K a year job with no benies and no nearby public transportation.

We have North Korea, Wileaks, unemployment, tax abomination and our local Hubbard gnus leads off with the firing of a school bus driver for being distracted by kids while driving. Three times they gleefully used it as a teaser to watch their gnus. I didn't.

[Tansy_Gold]

22. It's just the opposite here in Pinal County

Here we elect people to $100K positions and then tell them they don't have to do any of the work because we can afford to hire other people to do it for them.


http://www.ajnews.com/ via
http://azstarnet.com/news/blogs/senor-reporter/article_4219f11a-fcbf-11df-86de-001cc4c03286.html

Shaun Babeu, the brother of Pinal County's sheriff, won the Nov. 2 race for justice of the peace in the Apache Junction area. Now the consequences of that election are becoming clear.

A Nov. 18 Supreme Court ethics opinion means Babeu will be unable to hear the vast majority of cases that come before the court, according to the Apache Junction Gold Canyon News. Because Shaun Babeu is the brother of Sheriff Paul Babeu, he will have a conflict of interest and be unable to hear cases that come from the sheriff's office, a court ethics panel said in its opinion (attached).

The newspaper reports that in that court, 98 percent of the criminal cases, 72 percent of the criminal traffic cases and 60 percent of the civil traffic cases come from the Pinal County Sheriff's Department.

Shaun Babeu will make $101,550 per year, the News reports, but many cases will have to be heard by judges pro tem, who must be hired separately by the county.

Babeu told the News the decision isn't such a big deal, in that pro-tem judges already exist, and he plans to add more hearing officers for traffic cases.

His opponent in the race, James Pfeifer, said he and others warned before the election that this would happen.




Now, where did I put that rubber stamp?




TG, NTY

[ozymandius]

23. WTF?

The Justice of the Peace should be arrested for criminal incompetence. Would that be a conflict of interest?

[Tansy_Gold]

25. Understand that this has been no secret since the primaries

Paul Babeu is a slime bucket. You don't need to be told what party he belongs to. He's just plain slime. He's a Joe Arpaio wanna be, hates people of color, literally a skinhead, and there are those who have suggested he's a self- and gay-hating gay.

Paul supported Shaun's bid for JP. Shaun is no more qualified to be a judge than I am. The two brothers have a long history of bankruptcies and foreclosures, which they partly blame on the fact that they were molested by the family priest as children. (They got a substantial settlement from the RC church, but that money is long long long gone.)

No, I'm not making this up.

During the primary race, it was REPEATEDLY brought out that there would be a conflict of interest. People REPEATEDLY said that all it would take for any criminal brought to the JP court to get off would be a claim of conflict of interest. That would mean bringing in another judge who would have to be paid. Judge Shaun would still collect his $100K salary, but do nothing. (As one puke friend of mine said the other morning, "Well, he can always perform weddings! Who in hell elected this guy?" I know the person who said that voted for him.)

Understand, too, that they are great good buddies with our county supervisor, War Hero Retired USAF Helicopter Pilot Bryan Martyn, himself a notorious deadbeat, bankrupt, and foreclosee.

I grew up in the Chicago area during the original Mayor Daley years, and Pinal County is 10 times more corrupt than the Daley Machine could ever hope to have been. Maybe Mayor Rahm can give the Babeu Brothers a run for their money, but it will still be two against one, and I'm not sure Rahm can take them.



TG, NTY

[DemReadingDU]

36. Corruption is the system

Corruption is everywhere, we have our issues in our tiny village in Ohio too. Unfortunately, it is impossible to get rid of these people (until next election, we hope).

And what ticks me off the most, is that majority of people don't even pay attention and have no clue what is going on. They are too busy with other priorities, don't read the paper, never attend any village meetings.

[ozymandius]

17. How Does Social Security Contribute to The Deficit?

Answer: It does not.

Erskine Bowles and Alan Simpson of the Cat Food Commission will argue with me and many other sane people that their grasp of reality is, officially, moreso real than *ahem* reality. Their contempt for Social Security flows from the report released as Obama's Deficit Commission concludes its "work."

The new plan by panel co-chairmen Erskine Bowles and Alan Simpson, to be unveiled Wednesday, faces an uphill slog because of proposals to raise the Social Security retirement age and lower cost-of-living increases, cut Medicare costs, curtail a huge assortment of tax breaks, like the deduction for mortgage interest, and almost double the federal tax on a gallon of gasoline.

But other proposals remain the same. Among them are a gradual increase in the Social Security retirement age to 68 by 2050 and 69 by 2075, using a less generous cost-of-living adjustment for the programs and increasing the cap on income subject to Social Security taxes.

A supermajority of 14 of the 18 panel members would have to approve recommendations for a possible vote in the lame-duck session of Congress.

more

This plan faces opposition from many commission members who, reportedly, have blood flowing through their veins.

[Po_d Mainiac]

21. Dollah down

Dow 11,000/ES 1,180 should be safe for another 24hrs.

Au:Ag ratio now at 48.5:1

At $28.70/oz that old 1960 quarter will yield a $5.13 ingot after melt. Pre-82 Cu pennies have scrap value of $0.258.

[hamerfan]

27. Thanks for this info!

I have a bunch of older pennies, nickels, dimes, quarters and half-dollars I've been meaning to take to a coin shop to see if they're worth anything. Maybe I'll get down there soon.
:donut:

[Po_d Mainiac]

41. A coin shop is probably the last place you should go to.

What goes in the front door is junk. Little if any value till it goes on their shelf, where an amazing morphasis occurs.

I know of precious few dealers that won't do their best to rob u blind.

[hamerfan]

61. Thank you again, Po_d Mainiac!

This info is very valuable to me.
hamerfan

[ozymandius]

24. Wikileaks to Embarrass A Big Bank?

Raw Story speculates that the bank in question is Bank of America.

Barry Ritholtz's comments about this pending revelation are worth repeating:

Here is the sad reality: Can you really embarrass any of these banks? They were incompetently run, with criminally inept risk management. They blew themselves up, and exist today only due to the largesse of the taxpayer. They gratefully took all they could grab and more.

What else can you release to embarrass them?

Unless they have 5GB of video showing their CEOs engaging in bestiality, its hard to imagine Wikileaks embarrassing the big banks.

more on this at The Big Picture

[Tansy_Gold]

26. Exactly. :-(

I don't think even bestiality would embarrass them. They'd blame the animals.



TG

[ozymandius]

49. BoA: Hell To Pay

The grave situation surrounding Bank of America has just turned gray and cold. It exists today as a zombie bank thanks to the generous largesse of the American people. We have recently learned that BoA may have to eat a substantial portion of the mortgages they securitized and sold as bonds. We have also become aware of the bank's lapses in the securitization process has a whiff of criminal negligence and fraud. Additional evidence exists to suggest that these lapses are not isolated to BoA.

The most basic extrapolation here remains: purchasers who bought mortgage backed securities are beginning to realize that these securities are not backed by anything. That is because BoA failed to convey the notes (securities) with the mortgages attached. This is paper backed by nothing.

History and Economics students probably remember a similar scenario in the chapter about the Specie Circular and wildcat banks. It looks like BoA may be another wildcat bank that now represents, alone, a $2 Trillion national liability.

Bob Swern at DailyKos offers his assessment of the situation. He begins with a recollection of the Countrywide securitization fiasco that began about five to six years ago. The revelation emerged during a bankruptcy hearing in which a BoA employee insinuated that Countrywide committed fraud in a fashion similar to the current accusation against BoA. Countrywide sold securities they did not even own. Countrywide's problem is now BoA's problem.

Mr. Swern adds this:

Apparently, the BofA story from ten days ago was just a teaser for the main act which started playing out on the MSM stage roughly 18 hours ago. Yesterday, MSM and blog stories started surfacing concerning two separate issues (SEE: HERE, concerning the bank's latest nightmare, and HERE, which provides an update to the story I started covering 10 days ago), with either one providing more than sufficient cause to drive the two-trillion-dollar behemoth into receivership, or worse--that place where almost all divine oligarchic institutions have gone of late: taxpayer exponential bailout hell.

It seems that the logical conclusion to the Wikileaks story involves more than just embarrassment. (How could you embarrass THIS bank, anyhow?) The document dump involves evidence of rampant fraud that would logically and lawfully be addressed through "putbacks" that would drive the bank to insolvency and receivership. That would be a starting point for the criminal liabilities BoA would face.

Logic says that peripheral damage would extend to other banks that dealt in these securities. The aforementioned bankruptcy trial, Kemp v. Countrywide, has yielded a great many clues about the internal workings of the securitization process. One can infer that Countrywide and BoA are not isolated cases.

Swern continues with information in this context:

We have been told separately that a senior industry executive also said that no one in the industry transferred the notes. If true, this has very serious implications. As we've indicated, it means that residential mortgage backed securties are not secured by real estate, or as Adam Levitin put it, they are "non mortgage backed decurities."

That, my friends, would be an example of systemic fraud.

Sources:

Bob Swern
Naked Capitalism
Bloomberg

[boomerbust]

28. Great Cartoon

An AK47 and a Walmart TV. BWAAAAAA

[Roland99]

30. Index Futures: - Grab your oxygen masks...headed out of the atmosphere

S&P 500 1,196 +15.90 +1.35%
DOW 11,129 +133.00 +1.21%
NASDAQ 2,146 +28.50 +1.35%

[KayLaw]

34. Could someone help me out.

I heard someone talking about putting his money in PMs and "FDR'S." I know what PMs are but no matter how hard I search I can't figure out what FDR's could be. Does anyone know what it means?

[Tansy_Gold]

35. Silver Roosevelt dimes????

:shrug:

I dunno.




TG

[DemReadingDU]

37. FDR

Federal Reserve Notes?


I assume FDR (cash, coins ), and Precious Metals (gold & silver)


I dunno
:shrug:

[DemReadingDU]

39. FDR or SDR?

Special Drawing Rights (SDRs) are international foreign exchange reserve assets. Allocated to nations by the International Monetary Fund (IMF), a SDR represents a claim to foreign currencies for which it may be exchanged in times of need.

http://en.wikipedia.org/wiki/Special_Drawing_Rights

[Demeter]

53. I don't think real people can touch these.

They exist in electronic form for nations in trouble.

[KayLaw]

40. Thanks, guys.

I thought the "F" could be either Federal or Financial, and "D" could be Derivatives or Dollar. If I find out conclusively, I'll report back.

[Hugin]

42. Fixed Deposit Receipt...

It's an Indian thing.

http://www.icicidirect.com/ICICIHFCFDFAQ.html

Edit to add better description...

Fixed Deposit Receipt (FDR)

Fixed Deposit Receipt offers the customers the opportunity to invest a fixed amount for a fixed period at a fixed rate of interest. The customers have the option to re - invest their funds both principal amount and interest amount on maturity or principal amount and the interest amount being paid into their SB or CD accounts.

http://www.sebankbd.com/fixed_deposit.php

[KayLaw]

46. Thanks so much.

Sounds like CDs. Learn something new every day.

[DemReadingDU]

55. Thank you, had never heard of these

[tclambert]

65. FDRs? Flight Data Recorders? Free Domain Radio?

Finnish Depository Receipts? That one sounds like something. First Day Returns? Don't know what that actually means. I'm just reading off a list from http://acronyms.thefreedictionary.com/FDR

Fried Dumplings w/ Rice!

If PM is Precious Metals, FDR should be something like Financial . . . Derivative--no! Don't do it!

[Tansy_Gold]

66. Florentine Demolition Racers. n/t

[Festivito]

38. Debt: 11/29/2010 13,790,302,153,225.82 (DOWN 3,940,851,139.06) (Mon)

(Up a little. Good day.)
Late short day.
(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)
= 9,209,537,226,897.78 + 4,580,764,926,328.04
UP 134,381,143.81 + DOWN 4,075,232,282.87

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 $3,217.39 makes 1T$.
A family of three: Mom, Dad, Child: $9.65, ABOUT TEN BUCKS for a 1B$ 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 310,810,592 people in America.
http://www.census.gov/population/www/popclockus.html ON 10/04/2010 04:37 -> 310,403,677
Currently, each of these Americans owe $44,368.83.
A family of three owes $133,106.49. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 20 reports in the last 30 to 31 days.
The average for the last 20 reports is 6,073,832,794.23.
The average for the last 30 days would be 4,049,221,862.82.
The average for the last 31 days would be 3,918,601,802.73.
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$/day.
There were 40 reports in 60 days of FY2011 averaging 5.72B$ per report, 3.81B$/day.
Above line should be okay

PROJECTION:
There are 783 days remaining in this Obama 1st term.
By that time the debt could be between 14.9 and 17.8T$.
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)
11/29/2010 13,790,302,153,225.82 BHO (UP 3,163,425,104,312.74 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 +0,228,679,122,334.10 ------------* * * * * BHO
Endof11 +1,391,131,327,532.45 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
11/05/2010 -000,209,791,147.70 ---
11/08/2010 -000,059,969,255.93 ---- Mon
11/09/2010 -000,005,858,868.46 -----
11/10/2010 +001,354,516,168.52 ------------*********
11/12/2010 +001,236,686,699.48 ------------*********
11/15/2010 +065,794,144,300.11 ------------********** Mon
11/16/2010 +000,750,562,513.87 ------------********
11/17/2010 +000,670,859,874.97 ------------********
11/18/2010 -002,271,166,541.35 --
11/19/2010 +002,392,756,046.31 ------------*********
11/22/2010 +000,068,056,529.55 ------------******* Mon
11/23/2010 -000,022,584,331.05 ----
11/24/2010 +000,282,063,227.86 ------------********
11/26/2010 +003,743,380,701.15 ------------*********
11/29/2010 +000,134,381,143.81 ------------******** Mon

73,858,037,061.14 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=4634972&mesg_id=4634973

[Festivito]

72. Debt: 11/30/2010 13,860,773,759,018.43 (UP 70,471,605,792.61) (Tue)

(Up a lot. Good day.)
Kenny's back.
(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)
= 9,275,024,690,843.88 + 4,585,749,068,174.55
UP 65,487,463,946.10 + UP 4,984,141,846.51

Source: Debt to the penny:
http://www.treasurydirect.gov/NP/BPDLogin?application=np

THINKING IN BILLIONS: Think 3 or 4 dollars per billion in a 311-Million person America.
If every American, man, woman and child puts in $3.22 THAT'S 1B$, and $3,217.32 makes 1T$.
A family of three: Mom, Dad, Child: $9.65, ABOUT TEN BUCKS for a 1B$ 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 310,817,792 people in America.
http://www.census.gov/population/www/popclockus.html ON 10/04/2010 04:37 -> 310,403,677
Currently, each of these Americans owe $44,594.53.
A family of three owes $133,783.59. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 21 reports in the last 30 to 32 days.
The average for the last 21 reports is 9,140,393,413.20.
The average for the last 30 days would be 6,398,275,389.24.
The average for the last 32 days would be 5,998,383,177.41.
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$/day.
There were 41 reports in 61 days of FY2011 averaging 7.30B$ per report, 4.90B$/day.
Above line should be okay

PROJECTION:
There are 782 days remaining in this Obama 1st term.
By that time the debt could be between 14.9 and 18.6T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
11/30/2010 13,860,773,759,018.43 BHO (UP 3,233,896,710,105.35 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 +0,299,150,728,126.70 ------------* * * * * * * BHO
Endof11 +1,790,000,258,463.05 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
11/08/2010 -000,059,969,255.93 ---- Mon
11/09/2010 -000,005,858,868.46 -----
11/10/2010 +001,354,516,168.52 ------------*********
11/12/2010 +001,236,686,699.48 ------------*********
11/15/2010 +065,794,144,300.11 ------------********** Mon
11/16/2010 +000,750,562,513.87 ------------********
11/17/2010 +000,670,859,874.97 ------------********
11/18/2010 -002,271,166,541.35 --
11/19/2010 +002,392,756,046.31 ------------*********
11/22/2010 +000,068,056,529.55 ------------******* Mon
11/23/2010 -000,022,584,331.05 ----
11/24/2010 +000,282,063,227.86 ------------********
11/26/2010 +003,743,380,701.15 ------------*********
11/29/2010 +000,134,381,143.81 ------------******** Mon
11/30/2010 +065,487,463,946.10 ------------**********

139,555,292,154.94 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=4636853&mesg_id=4637072

[Roland99]

43. +200 wheeee!

Dow 11,204 +198 +1.80%
Nasdaq 2,546 +47 +1.90%
S&P 500 1,200 +20 +1.66%
GlobalDow 1,982 +32 +1.65%
Gold 1,387 +1 +0.04%
Oil 85.69 +1.58 +1.88%

[Hugin]

44. Lesson Wall Street will learn from this, you may ask.

Simple.

Cutting loose those slacker unemployed parasites and the COLAs for the Feds pays off.

Look, look... See, see... Things are better now. :sarcasm:

[Roland99]

48. +240!

[DemReadingDU]

50. Madness of a Lost Society

The following video is a must watch 4 minutes of content that will never be seen on mainstream TV. Some jarring images of what US society has unfortunately devolved to. As the narrator says: "This is what a dumbed-down, morally bankrupt, completely broken society looks like, and this is how it behaves. No outrage over the bankers raping them, no outrage over their gutted industry, no outrage over their plundered dollar. Just blind, wanton stupidity. Just bread and circuses."
http://www.zerohedge.com/article/madness-lost-society

[TheWatcher]

52. So Wall Street is enthralled in Hedonistic Masturbatory Heat today.

Apparently, this is why.

Wall St jumps on U.S. commitment to Europe

NEW YORK (Reuters) - Stock indexes hit session highs in late morning trading on Wednesday as the euro jumped against the U.S. dollar after a government official said the United States would be ready to back a larger European financial stability fund via increased commitments to the International Monetary Fund.

The Dow Jones industrial average (DJI:^DJI - News) gained 244.50 points, or 2.22 percent, to 11,250.52. The Standard & Poor's 500 (^SPX - News) added 26.21 points, or 2.22 percent, to 1,206.76. The Nasdaq Composite (Nasdaq:^IXIC - News) rose 58.50 points, or 2.34 percent, to 2,556.73.

U.S. stocks surged as upbeat U.S. and Chinese data lifted investor confidence about a global economic recovery.

In recent weeks, the euro and U.S. stocks have traded in sync with each other.

http://finance.yahoo.com/news/Wall-St-holds-gains-after-ISM-rb-3349426811.html?x=0&sec=topStories&pos=main&asset=&ccode=a

Now if you're curious about reading the rest of the article to see what all the furious wanking is about, in other words, what data they refer to, I'm afraid that's where the article ends.

What was the Data?

They don't say.

I can tell you what they REMOVED from the article, so it didn't look like they were posting drunk and expecting us to buy the utter bullshit they fed to us that passes for reporting.

Basically 93,000 Jobs were added according to the ADP report, you know, like Temporary jobs at Toy Stores and Amazon, but 61,611 jobs, you know, actual REAL jobs that provided an actual income for people, were cut.

So, these days, they just spew out "Strong Economic Jobs Data", remove all the details, and don't even try to act inconspicuous anymore.

They know they can depend on most of the American Public to remain Stupid, Hypnotized, and Shopping. (See Demeter's Post "The Madness Of A Lost Society.)

So Basically Wall Street is having a Roman Orgy because of some unknown Chinese Data, a bunch of Temp Jobs at Old Navy that will be gone by the first of the year, and the fact that once again Taxpayers will be on the hook for another bailout. This time, the whole of Europe!

WHEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


Or MAYBE, just maybe, these pieces of human waste that sit around and punch F12 all day and call themselves Economic Revolutionaries and Heroes have more cash in their pocket to throw around (i.e. "gambling money") because now they don't have to worry about 2,000,000 people sucking away from their gambling fund, because they no longer have UNEMPLOYMENT BENEFITS TO HELP THEM SURVIVE.

One thing I do notice today is not even the most staunchly, Economically willfully ignorant true believers are uttering a peep about this "Upbeat Data" that has Wall Street engaging in open air Intercourse with itself.

Maybe even the most blind can tell that the plate of chocolate they've been fed is actually a plate of dogshit.


Wall Street buys itself more Cake and Gingerbread.

The rest of us starve to death on Propaganda.

Merry Fucking Christmas.

[AnneD]

58. Tell us how you really feel...

don't hold back, we can take it. :evilgrin:

Ever feel like the driver of this car has fallen asleep but there are some of us in the back seat wide awake and screaming our heads off. My life just keeps flashing before my eyes.

[TheWatcher]

59. Actually Anne, that was me being restrained.

:evilgrin:

But yes, we are all in a Big RV, the Driver has fallen asleep, we are headed for the Cliff, and none of us agreed to this Thelma and Louise ending when we signed up to do the picture.

But don't worry, prosperity, wealth, and jobs will all "trickle down" on us soon. ;)

ANY day now.

[Dr.Phool]

63. Wake me after we get there.

I'm afeared of heights.

[hamerfan]

60. Love it!

"...these pieces of human waste that sit around and punch F12 all day and call themselves Economic Revolutionaries...".
The best line I have read in a while. Thanks, Watcher!
Meanwhile, +260 for DOW.

[Name removed]

62. Deleted message

Sub-thread removed by moderator. Click here to review the message board rules.

[OlympicBrian]

54. An excellent day to sell! nt

[Demeter]

56. IN SeaRCH oF a SYMBoL

http://www.zerohedge.com/article/search-symbol

Many ZH readers have asked for a symbol denoting the Anti-Bankster movement. After all, what good is a movement without a symbol?

I have been playing around with several ideas and posted some of them for your preliminary views....





and more

[Name removed]

67. Deleted message

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

[Name removed]

68. Deleted message

Sub-thread removed by moderator. Click here to review the message board rules.

[hamerfan]

69. I was

played like a fish in that other thread. I took the bait and lost my posts here.
Ain't that a shame...

http://www.youtube.com/watch?v=lLZL_E5MjkE

[Dr.Phool]

70. Wierd, ain't it?

[hamerfan]

71. Yep.

Considering I don't think I broke any rules.
hamerfan NTY (borrowed shamelessly from TG)

[TheWatcher]

73. The best advice I can give.

STAY AWAY form that place.

It will take YEARS off your life in stress and loss of sanity.

You can't have real discussion in an Echo Chamber where Message Control and Compliance is the only form of allowed communication.