STOCK MARKET WATCH, Thursday December 2

[ozymandius]

Source: du

STOCK MARKET WATCH, Thursday December 2, 2010

AT THE CLOSING BELL ON December 1, 2010

Dow 11,255.78 +249.76 (+2.22%)
Nasdaq 2,549.43 +51.20 (+2.01%)
S&P 500 1,206.07 +25.52 (+2.12%)
10-Yr Bond... 2.86 +0.06 (+2.22%)
30-Year Bond 4.16 +0.05 (+1.17%)

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Market Conditions During Trading Hours

Euro, Yen, Loonie, Silver and Gold

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Handy Links - Videos:
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    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

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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

08:30 Initial Claims 11/27
Briefing.com 415K
Consensus 422K
Prior 407K

08:30 Continuing Claims 11/20
Briefing.com 4200K
Consensus 4200K
Prior 4182K

10:00 Pending Home Sales Oct
Briefing.com 0.0%
Consensus 0.0%
Prior -1.8%

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

[ozymandius]

2. Oil hovers near $87 in Asia on economic hopes

KUALA LUMPUR, Malaysia – Oil prices hovered near $87 a barrel Thursday in Asia after a sharp rally the day before that was powered by strong economic data from the U.S. and China.

Improved manufacturing activity in the U.S. and China, job gains among small U.S. businesses and higher U.S. work force productivity revived confidence in the global economic recovery, giving a lift to oil.

Some analysts warned that economic risks, especially the European debt crisis and the possibility of further credit tightening in China, cast a shadow over such bullishness.

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

[ozymandius]

3. Fed Lending Secrets Revealed

The Fed was open to just about any entity that needed money to stay afloat. This would seem to fall outside the Fed's core mission.

The Term Auction Facility had been established to allow banks confidential access to low-cost Fed loans while avoiding rumors of poor liquidity that could have sparked panic or a run.

France's Societe Generale, Switzerland's UBS, Belgium's Dexia, and Germany's Bayerische Landesbank, Dresdner Bank and its now-partner Commerzbank were all frequent users, each drawing down billions of dollars.

Many major US banks also used the facility, but the scale of use by non-US banks is likely to fuel anger that US cash aided foreign firms.

more

The number of firms and the amount of American money used to keep them afloat will anger many who see this as a breach of the Fed's charter.

[rfranklin]

4. Yes, there is a "one world" government!

And it is called banking.

[ozymandius]

5. Federal Reserve's 'astounding' report: We loaned banks trillions

This promises to be a feast for the Fed's detractors.

The Federal Reserve has lifted its veil of secrecy regarding special lending programs during the financial crisis, responding to a mandate from Congress by revealing the specifics of transactions with firms like Goldman Sachs and Citigroup.

Critics of the Federal Reserve are poring over the data, seeking red flags regarding potential improprieties. And Congress has asked its Government Accountability Office to sift through the numbers and offer its own analysis.

Sen. Bernie Sanders, a Vermont independent who led the charge for Fed transparency, characterized the new details as "astounding" and called for an investigation to determine whether banks borrowed at near-zero interest and then loaned money back to the government at higher rates.

Senator Sanders is keen to the ways banks make money. This is not some grand revelation: that banks will receive money from the Fed then lend it back to the government, making a substantial profit.

[florida08]

12. `

http://news.yahoo.com/s/csm/346794

In one program alone the Fed doled out nearly $9 trillion in funds to borrowers such as Morgan Stanley and Merrill Lynch, largely at interest rates below 1 percent...

Of $3.6 trillion doled out in the six weeks after Sept. 15, 2008 (when Lehman Brothers failed), nearly $3.1 trillion went to Morgan Stanley, Citigroup, Goldman Sachs, or Merrill Lynch...

The biggest cost of the rescues may be indirect. Propping up financial firms can encourage risky behavior, and thus sow the seeds of future crises, by making financial firms believe they are too important to be allowed to fail.

Congress recently passed financial reforms designed to address this problem, but Mr. Kyle and other finance experts say the measure has not fully resolved that problem.

[Demeter]

16. It's Only "Astounding" to People Who Weren't Paying Attention

More than one blogger has been screaming about this since it started...two and a bit years ago.

[wordpix]

60. Bernie for president in '12

[ozymandius]

6. Fed May Be ‘Central Bank of the World’ After UBS, Barclays Aid

Dec. 2 (Bloomberg) -- Federal Reserve data showing UBS AG and Barclays Plc ranked among the top users of $3.3 trillion from emergency programs is stoking debate on whether U.S. regulators bear responsibility for aiding other nations’ banks.

UBS was the biggest borrower under the Commercial Paper Funding Facility, with $74.5 billion overall, more than twice as much as Citigroup Inc., the top U.S. bank recipient, according to the data released yesterday. London-based Barclays Plc took the biggest single amount under another program that made overnight loans, when it got $47.9 billion on Sept. 18, 2008.

The growth of the U.S. mortgage-backed securities market and the dollar’s status as the world’s reserve currency enticed overseas banks such as Zurich-based UBS to buy assets in the country before 2008. They paid for the holdings with U.S. dollars, and when funding seized up, the Federal Reserve refused to take the risk that European firms would unload the assets and further depress markets for housing-related investments.

more

This article has a very detailed list of high profile companies that borrowed from the Fed.

[Demeter]

17. Barclays ?

Inconceivable!

[Demeter]

14. But We Don't Let Details Like That Stop Us

"we" create our OWN Reality (copyright, trademark, etc)

[AnneD]

34. This further fuels....

the banking conspiracy's floating about the internet...I guess if you pay attention and live long enough-all conspiracy theories become true. :tinfoilhat: :hide:

[tclambert]

7. Banking should be like a utility company, not a source of stunning innovation and profitability.

They should make their vigorish, I mean interest, of around 5-10%, and run the most boring business in the world. Of course, we need to Glass their Steagulls to get them out of the investment market manipulation game.

When did banking become a job for adrenaline junkies?

[Demeter]

18. The Go-Go Days of Conglomerates

all that M&A madness started late 60's....and still goes on today.

[Tansy_Gold]

8. That cartoon is inutterably tragic. K&R n/t

[tclambert]

9. Wiktionary says inutterably is not a word, did you mean unutterably?

Yet I know exactly what you mean. Therefore, I decree it is good language use.

Besides, Wiktionary says flammable and inflammable are synonyms. How can that make sense?




Florentine Demolition Racers, indeed. Always the Italian motorcycle gangs with you, isn't it?

[Dr.Phool]

13. Hells Meatballs

Precursor of the Mafia.

[DemReadingDU]

10. What happened in yesterday's thread?

I read thru it later in the evening, and somebody was removed, taking parts of the discussion. Hope I didn't miss anything good.
:evilgrin:

[hamerfan]

15. Good question.

I was following the thread, and contributed one or two posts, and have no idea what happened.

[DemReadingDU]

22. Must have been The Twilight Zone

http://www.youtube.com/watch?v=NzlG28B-R8Y

[Demeter]

19. If I Reall Correctly, There Was Nothing Inflammatory (OR Flammatory)

Must be a bunch of renegade or untrained moderators with a personality disorder. Watch this get deleted....

[DemReadingDU]

23. It was The Twilight Zone

http://www.youtube.com/watch?v=-b5aW08ivHU

[Dr.Phool]

25. I think it had to do with the ultimate Kool-aid Jonestown thread.

A few of us posted some rebuttals in it, came back here, and a post linking to it and several others were disappeared.

I didn't see anything inflammatory (or flammatory) in the ones here, and maybe mildly at best there.

[Tansy_Gold]

27. and the ultimate kool-aid thread

to which I will NOT link (I did so yesterday and that's what started the fracas) is intact. Some deleted posts but there's still stuff there that's on a par with what was deleted here.

So go figure.


Tansy Gold, does not understand at all

[kickysnana]

29. Maybe my fault I +1 somebodies comment on the IP thread..

They may be watching me (or not). I mentioned that that forum violated the free speech on DU. Not only is it heavily redacted. (Anything posted in any other topic his moved there and killed. It is the elephant in the DU living room.) And I will keep saying it because it is true and just plain wrong. The original thread was about discovered human trafficking gangs operating out of Israel.

[Tansy_Gold]

30. I don't think so.

What was posted here had nothing to do with IP, and I don't think you posted in the deleted subthreads here.

Anyway, we're not supposed to discuss what isn't supposed to be discussed, like the stuff that was deleted because we weren't supposed to discuss it.


Tansy Gold, who has a sense of humor even if SOME PEOPLE don't think so :evilgrin:

[AnneD]

35. By the way.....

I didn't really comment on one of your recent threads that made the greatest, but I was so proud of your eloquent commentary. You make me proud to play your second fiddle :fistbump:

Tansy Gold/AnneD 2012....We not only have a vision for the future-we got the map!

[Dr.Phool]

39. There was a thread a couple of days ago.

"Who would you vote for in a primary in 2012".

I said Russ Feingold, Dennis Kucinich, Tansy Gold.

[AnneD]

46. Our base may be small....

but the are as loyal to us as we are to our principles! Thanks for the vote. I'll be happy to kiss Sara an lieu of a baby.

[wordpix]

56. add to that list Bernie Sanders

[Dr.Phool]

38. There was nothing deleted.

You are imagining things. Report for your shock treatment.

You will feel better.

[Ghost Dog]

45. On the other hand we are supposed not to discuss what isn't supposed to be discussed

which is what we aren't doing, so that's all right, then.

[DemReadingDU]

32. never mind

[xchrom]

11. recommend

[Roland99]

20. A Dying Banker’s Last Instructions

http://www.nytimes.com/2010/11/27/your-money/27money.html?_r=1&ref=your-money


(sorry if posted in a previous SMW thread...it's a few days old)

[Hugin]

24. When you're rich you're called a Financier... But, when you're poor you're called a...

Hoarder.

And A&E makes a regressive show about how highly paid professionals come with a large contingent of privatized garbage collectors to haul away your life savings... For your own good.

[alterfurz]

37. instead of hoarder, I thought you were gonna say...

...thief!

[Hugin]

41. I assure you the Financiers have arranged things so their OCD is stone cold legal.

But... As Sherlock Holmes often pointed out "Legal" can be an antonym for "Just".


Case study OCD:

Counselor: "We found some cat poop in the closet."
Hoarder: "I'll be needing to keep that..."

Counselor: "We found some small percentage of your hoard is of no use to you and could be used to fund children's lunch programs."
Financier: "I'll be needing to keep that..."

[AnneD]

42. I really believe ...

that we are granted mercy on our death bed if we ask-but I believe your heart has to be sincere and not just asking out of fear of being held accountable for our deeds.

The scene in Monty Python when the wizard ask the three questions comes to mind, change your mind or answer wrong and you are catapulted to the nether regions. Actually, a friend of mine once postulated that heaven was your soul experiencing godly bliss but hell was your soul experienceing the pain that you inflicted on others during your life-magnified. If that is the case-there are folks waling the Earth today that really should be worried. Some folks will not be able to make sincere amends before they die. They will not rest in peace because their souls are stained so badly.

[Roland99]

48. coming soon to the Sci-Fi Channel.....

Ghost Hunters: Wall Street.

[Hugin]

49. Isn't that now the Sweye-Fweye Channel?

or sumpthin'? :shrug:

[AnneD]

53. I think the bad Wall Street folks are sent....

to the bottomless trading pit layered like Dante's Inferno.

[DemReadingDU]

21. Columbus Ohio National Century Financial - Fugitive Rebecca Parrett returned to Ohio

12/2/10 National Century fugitive back in Ohio
Parrett to face judge who gave her a 25-year prison term

Rebecca S. Parrett has been returned to Franklin County and is a step closer to serving a 25-year federal prison term for fraud convictions.

Federal marshals brought Parrett back to Ohio the day before Thanksgiving, more than 2 1/2 years after she was found guilty for her role in the collapse of National Century Financial Enterprises, a Dublin-based company.

Parrett failed to report to federal authorities after she was convicted in March 2008. U.S. District Judge Algenon L. Marbley sentenced her to 25 years in prison during her absence. He expects to formally sentence her face to face in court in January.

Gregory S. Peterson, Parrett's attorney during the fraud trial, said yesterday he again will represent her in front of Marbley. "I'm glad it turns out she's safe," Peterson said. "I had serious concerns about her because she had serious health problems." He said he last saw her the day after she was found guilty, but he planned to visit her in the Franklin County jail today.

Deputies said Parrett has refused media interviews.

On Oct. 26, Mexican immigration officials arrested Parrett in Ajijic, a village in west-central Mexico. She was taken to Los Angeles immediately, but marshals had to gather several prisoners before transporting them as a group to the Midwest. In Mexico where she had been hiding out, people who knew her continue to talk about the famous fugitive.

Arlene L. Hauser said Parrett left behind a set of dentures when she moved out of the Mexican house Hauser rented to her in 2009. That's just one of the peculiarities Hauser remembered when she realized she had rented to the woman featured twice on America's Most Wanted television show. Hauser knew Parrett as "Kitty Elliott," who lived in her Ajijic-area home in the summer of 2009 while Hauser was back in the United States.

"I believe she had U.S. cash and plenty of it," Hauser said. "She had a wig stand on her dresser. She did not resemble the woman I later saw posted as a fugitive at all."

Hauser said Parrett was "overly made up" and in July wore a flu mask even when she was driving. Hauser suspects Parrett actually was hiding work she had done on her teeth, based on the dentures the next renter found after Parrett moved out. "She was very paranoid," Hauser said.

Parrett got permission from Hauser to install a safe in the rental home while she lived there. "She had figured out a hiding place in my house where no one would suspect it was," Hauser said.

http://www.dispatch.com/live/content/local_news/stories/2010/12/02/national-century-fugitive-back-in-ohio.html?sid=101


Link backwards to previous articles
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4591371&mesg_id=4591414

[Dr.Phool]

26. On the bright side,

She got back just in time for s sumptuous Beef-a-Roni Thanksgiving feast!

For breakfast, something that resembles scrambled eggs, cold toast, and something kind of porky, made from downer pigs.

Yummmmm

[AnneD]

43. On the even sunnier side....

It will be easy to gum with what ever teeth she has. She may even qualify for some free prison dentures.

[TalkingDog]

28. The "Oh Fuck" Chart of the Day

http://www.businessinsider.com/chart-of-the-day-un-food-price-index-2010-12







Best Comment?: Good thing the US does not include food in inflation calculations or else this news would be even worse.

[Roland99]

52. We've been shopping for food at WalMart about a gazillion percent more than I ever have in my life

Even with the 5% off at Target using their card, it's only taking a small bite out of that total.

[wordpix]

57. edible schoolyards and edible front and backyards are the answer to this

Been growing a garden wherever I've lived all my adult life. Works for me :)

[xchrom]

31. i guess germany is looking to form some sort of austerity league

http://economix.blogs.nytimes.com/2010/12/02/how-likely-is-default-in-europe/

'Most likely we will witness the creation of an Austere Coalition (actually a modified Hanseatic League) of Germany, the Netherlands, Austria, Finland, Estonia and a few of the smaller countries. Ending forever what is charmingly known as moral hazard — the prospect of soft bailout money — is an admirable goal. But getting there under current conditions is going to be rocky, because that new regime implies that prominent countries need to have less total debt and a longer maturity on their debt than they do now.'

[florida08]

33. The Fiscal commission's report pdf

http://www.fiscalcommission.gov/sites/fiscalcommission.gov/files/documents/TheMomentofTruth12_1_2010.pdf

[ozymandius]

54. Willful ignorance about Social Security

First off: I do not understand why Social Security was within the parameters of a "deficit commission" because Social Security does not have debt authority. That is: it cannot run a deficit. It would benefit from some minor tweaks to make the long term solvency of the program worry-free.

The Commission proposes a balanced plan that eliminates the 75-year Social Security shortfall and puts the program on a sustainable path thereafter. To save Social Security for the long haul, all of us must do our part. The most fortunate will have to contribute the most, by taking lower benefits than scheduled and paying more in payroll taxes. Middle-income earners who are able to work will need to do so a little longer. At the same time, Social Security must do more to reduce poverty among the very poor and very old who need help the most.

There is one little bit in here where I find myself in agreement. Go ahead and means test. It is ridiculous that Warren Buffet receives a Social Security check every month.

In order to control costs, the Commission proposes gradually moving to a more progressive benefit formula that slows future benefit growth, particularly for higher earners. Currently, initial benefits are calculated using a progressive three-bracket formula that offers individuals 90 percent of their first $9,000 of (wage-indexed) average lifetime income, 32 percent of their next $55,000, and 15 percent of their remaining income, up to the taxable maximum. The Commission recommends gradually transitioning to a four-bracket formula by breaking the middle bracket in two at the median income level ($38,000 in 2010, $63,000 in 2050), and then gradually changing the replacement rates from 90 percent, 32 percent, and 15 percent to 90 percent, 30 percent, 10 percent, and 5 percent.

This will undoubtedly receive a great amount of attention, plus the section about defense spending. This can be found on page 21.

[florida08]

55. Willful ignorance or diverting ss payments?

Don't payments go into the general fund where tax cuts and war funding come from? We know they've been using surpluses for decades But what's to stop them from using the fund itself? You know what a cynic I am. Yes I agree with the means test too. McCain doesn't need it. Especially when they state that taxes for the top should not go above 29 percent.

http://dissidentvoice.org/2010/07/was-the-social-security-money-%E2%80%9Cborrowed%E2%80%9D-or-%E2%80%9Cstolen%E2%80%9D/

[Festivito]

36. 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

[Festivito]

61. Debt: 12/01/2010 13,834,918,581,977.03 (DOWN 25,855,177,041.40) (Wed)

(Down some. Good day.)
No contact with relations, then a buisness calendar. Hmm. Strange.
(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)
= 9,269,344,310,610.90 + 4,565,574,271,366.13
DOWN 5,680,380,232.98 + DOWN 20,174,796,808.42

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 $3,217.24 makes 1T$.
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 310,824,992 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 $44,510.32.
A family of three owes $133,530.95. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 21 reports in the last 30 days.
The average for the last 21 reports is 5,801,460,742.84.
The average for the last 30 days would be 4,061,022,519.99.

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$/day.
There were 42 reports in 62 days of FY2011 averaging 6.51B$ per report, 4.41B$/day.
Above line should be okay

PROJECTION:
There are 781 days remaining in this Obama 1st term.
By that time the debt could be between 14.9 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)
12/01/2010 13,834,918,581,977.03 BHO (UP 3,208,041,533,063.95 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 +0,273,295,551,085.30 ------------* * * * * * BHO
Endof11 +1,608,917,357,195.72 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
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 ------------**********
12/01/2010 -005,680,380,232.98 --

133,934,881,177.89 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=4638680&mesg_id=4638995

[DoBotherMe]

40. K&R

Still lurking after all these years. :hi: Dana ; )

[hamerfan]

44. At 2:25PM

DOW... +115
NASDAQ... +27
S&P500... +15

Wow.

[RUMMYisFROSTED]

47. Where's the Queen?

[spotbird]

50. Can someone explain this House vote to me?

Brace yourself for some procedural jargon: Dems once believed they were faced with two mixed options for holding this vote. The first was to hold an up-or-down vote under the normal rules. But that would give Republicans the opportunity to introduce what's known as a motion to recommit -- a procedural right of the minority that would have allowed them to tack an extension of tax cuts for high-income earners on to the legislation.

The second option -- suspending the rules -- would have foreclosed on that right, but would have required a two-thirds majority of the House for passage: 290 votes, an impossible hurdle.

But Democrats figured out a way to avoid this. They're attaching their tax cut plan as an amendment to a separate bill . That legislation already passed the House, and has just been returned from the Senate. The rules say it can't be recommitted. So the GOP's hands are tied.

http://tpmdc.talkingpointsmemo.com/2010/12/boehner-blasts-dems-chickencrap-majority-rules-tax-cut-gambit-1.php?ref=fpa

Does this mean the President can sign it?

[Demeter]

51. What the Man Can Do seems to have no correlation to what the Man Will Do

if you catch my drift....

[wordpix]

58. still in the dark about it here

and I teach reading...

We need Rachel to explain this one.

[florida08]

59. it's brilliant

is what it is. The House reps can't tie it up with amendments or debate. It goes directly to the Senate for an up or down vote. The senate will probably stall but it's an attempt to embarrass any rep or dem who would vote against it in the Senate.

http://www.pbs.org/newshour/bb/politics/july-dec10/taxcuts_12-02.html