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Wed Feb 22, 2012, 07:38 PM

STOCK MARKET WATCH -- Thursday, 23 February 2012


STOCK MARKET WATCH, Thursday, 23 February 2012


SMW for 22 February 2012

AT THE CLOSING BELL ON 22 February 2012

Dow Jones 12,938.67 -27.02 (-0.21%)
S&P 500 1,357.66 -4.55 (-0.33%)
Nasdaq 2,933.17 -15.40 (-0.52%)


10 Year 2.00% -0.05 (-2.44%)
30 Year 3.15% -0.05 (-1.56%)









Market Conditions During Trading Hours






Euro, Yen, Loonie, Silver and Gold
















Handy Links - Government Issues:

LegitGov
Open Government
Earmark Database
USA spending.gov





Financial Sector Officials Convicted since 1/20/09 =
12
2/2/12 David Higgs and Salmaan Siddiqui, Credit Suisse, plead guilty to conspiracy involving valuation of MBS









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.



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Reply STOCK MARKET WATCH -- Thursday, 23 February 2012 (Original post)
Tansy_Gold Feb 2012 OP
Demeter Feb 2012 #1
xchrom Feb 2012 #2
Demeter Feb 2012 #33
xchrom Feb 2012 #38
Demeter Feb 2012 #40
xchrom Feb 2012 #41
xchrom Feb 2012 #3
DemReadingDU Feb 2012 #7
xchrom Feb 2012 #8
xchrom Feb 2012 #4
Po_d Mainiac Feb 2012 #5
xchrom Feb 2012 #6
DemReadingDU Feb 2012 #9
Hugin Feb 2012 #10
xchrom Feb 2012 #11
Tansy_Gold Feb 2012 #18
Hotler Feb 2012 #27
Tansy_Gold Feb 2012 #12
DemReadingDU Feb 2012 #16
Fuddnik Feb 2012 #20
Po_d Mainiac Feb 2012 #19
Hotler Feb 2012 #30
Fuddnik Feb 2012 #23
DemReadingDU Feb 2012 #28
Po_d Mainiac Feb 2012 #34
Hotler Feb 2012 #29
AnneD Feb 2012 #47
hamerfan Feb 2012 #58
xchrom Feb 2012 #13
Roland99 Feb 2012 #14
Po_d Mainiac Feb 2012 #21
Roland99 Feb 2012 #22
Fuddnik Feb 2012 #24
Roland99 Feb 2012 #25
Demeter Feb 2012 #35
Po_d Mainiac Feb 2012 #26
xchrom Feb 2012 #15
xchrom Feb 2012 #17
Demeter Feb 2012 #36
xchrom Feb 2012 #31
xchrom Feb 2012 #32
Demeter Feb 2012 #37
Demeter Feb 2012 #39
Demeter Feb 2012 #42
Demeter Feb 2012 #43
Hotler Feb 2012 #60
xchrom Feb 2012 #44
Demeter Feb 2012 #50
xchrom Feb 2012 #57
hamerfan Feb 2012 #59
Demeter Feb 2012 #45
Demeter Feb 2012 #46
Demeter Feb 2012 #48
Demeter Feb 2012 #49
Demeter Feb 2012 #51
Demeter Feb 2012 #54
Demeter Feb 2012 #52
Demeter Feb 2012 #53
Demeter Feb 2012 #55
Demeter Feb 2012 #56

Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 06:11 AM

1. The Liquidity Trap and All That… By Philip Pilkington

http://www.nakedcapitalism.com/2012/02/philip-pilkington-the-liquidity-trap-and-all-that%E2%80%A6.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+NakedCapitalism+%28naked+capitalism%29

Recently the mainstream press have done some rather interesting coverage of Modern Monetary Theory (MMT). Particularly good was the Washington Post’s attempt to spell out the key differences between Modern Monetary Theory and standard post-war Keynesianism.

In their piece on MMT, the Post rightly pointed out that after the war there were two distinct brands of Keynesianism. One came down from Keynes himself through his students at Cambridge; the other was essentially invented by the American economist John Hicks and came to dominate academia after the war.

In the coming days we will probably see many commentators expressing confusion over the differences between the two types of Keynesianism. And while there are many threads that one could follow to try to draw what is a very real distinction between the two approaches, we will concern ourselves here with Hick’s old ISLM model and the liquidity trap interpretation of Keynes’ argument.

Hopefully following this thread will tease out some of the differences between the two approaches (differences which Hicks conceded when he rejected his own interpretation of Keynes later in his life). Key among these will be: the post-Keynesian protest in trying to fit Keynes into some engineering diagram straitjacket; the post-Keynesian focus on actual business psychology; the rejection of the so-called ‘loanable funds’ theory; and the post-Keynesian scepticism as to monetary policy...


TODAY'S LESSON: ECONOMICS' CATFIGHTS

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Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 06:53 AM

2. thank you, mistress tansy --when i first got up - i would have sworn it was wednesday.

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Response to xchrom (Reply #2)

Thu Feb 23, 2012, 12:31 PM

33. And I Wished It Was Friday, 2022

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Response to Demeter (Reply #33)

Thu Feb 23, 2012, 12:54 PM

38. i don't know what 2022 is -- but i concur! nt

i had to spell concur right.

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Response to xchrom (Reply #38)

Thu Feb 23, 2012, 01:00 PM

40. I Figure, Under Current Law

That's the year I could collect maximum Social Security (assuming there is any).

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Response to Demeter (Reply #40)

Thu Feb 23, 2012, 01:10 PM

41. ah! nt

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Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 06:57 AM

3. With Banks As Landlords, Some Tenants Neglected

http://www.wbur.org/npr/147160871/with-banks-as-landlords-some-tenants-neglected

?t=1329942762&s=4
Luz Escamilla's bedroom walls are stained with the blood of bedbugs. She says she doesn't want to bleach them until reps from CW Capital, her landlord, pay an in-person visit to her Maryland home. (Aarti Shahani / NPR)

Across the country, big banks and other large investors are buying up tens of thousands of foreclosed rental properties. They're not always model landlords, according to tenants and regulators. Some banks are failing to follow local and state housing codes, leaving tenants to live in squalor — without even a number to call in the most dire situations.

Pedro Jimenez signed the lease for his second-floor apartment in 2006. Since then, he says, "Here was leaking water. Part of the ceiling . See all the windows crack." The panes are completely shattered; vandals broke them, he says.

East Oakland, Calif., is a rough city. It's known for abandoned buildings and a high crime rate. Still, it's home for Jimenez, a single dad with four kids.

His 7-year-old son, David, plays handyman. While his father patches the walls with plywood, David covers holes with sticky notes. There are yellow squares in every room but one: a bathroom that has been nailed shut.

"It's dirty and it's nasty," David warns. That's code for "dangerous." It has broken plumbing, splintered wood and exposed electrical wires. The original landlord was renovating when he lost the place in foreclosure, back in 2007.

Jimenez recalls a real estate agent coming by one day to collect rent for the new owner, Deutsche Bank. Soon after, the water stopped running altogether because no one paid the bill. The utility company wouldn't let Jimenez pay just his part; it accepts only full payment for all units in a building.

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Response to xchrom (Reply #3)

Thu Feb 23, 2012, 07:45 AM

7. I heard this segment this morning


The bloody bedbugs were sooo creepy. I can't imagine living in that.

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Response to DemReadingDU (Reply #7)

Thu Feb 23, 2012, 07:48 AM

8. Sounds gross, doesn't it? Nt

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Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 07:11 AM

4. Gas Swings at 2-Year High as U.K. Flaws Exposed: Energy Markets

http://sfgate.ldc.bloomberg.wallst.com/SFChronicle/Story?docId=1376-LZSZ9E0UQVI901-6EQ073TFMLCB7LUJDPOD6L8KUO

Feb. 23 (Bloomberg) -- Traders in U.K. natural gas are grappling with the most changeable prices in more than two years as investors weigh Britain’s growing dependence on imports and a waning ability to respond to surges in demand.

Price swings in day-ahead gas, as measured by 30-day historical volatility, more than tripled to 156 percent in the two weeks to Feb. 13, the highest since October 2009, broker prices compiled by Bloomberg show. A cold snap strained the U.K. storage network this month and exposed its reliance on liquefied natural gas from the Middle East, according to Sabine Schels, a commodity strategist at Bank of America Corp.

Rising volatility signals a risk to utilities and power generators, including Centrica Plc and Electricite de France SA, as they seek to ensure supplies at stable prices amid dwindling North Sea reserves and competing demand for the fuel from Asia. LNG imports to Japan rose 12 percent last year, while shipments to the U.K. dropped 20 percent in the final quarter of 2011.

“There is a misperception that the U.K. will continue to receive high LNG imports,” Schels said in a Feb. 21 interview from London. “We’ve seen them decline and we expect them to continue to go down, because demand in Asia is so strong.” Next-winter gas prices need to rise in order to attract enough LNG to meet Britain’s needs, she said.

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Response to xchrom (Reply #4)

Thu Feb 23, 2012, 07:35 AM

5. When the bernank

and the other CB's stop the transitory printing of fiat, the transitory inflation (that supposedly don't exist) might subside.

As long as the R2K rises, all is good.

Nothing to see here. You may now go back to watching some reality TV or a celebrity funeral.

Note: KYPD

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Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 07:38 AM

6. Mounting student loans a 'debt bomb' waiting to explode

http://bottomline.msnbc.msn.com/_news/2012/02/22/10469504-mounting-student-loans-a-debt-bomb-waiting-to-explode

It’s a vicious cycle. Many families in this country cannot afford the skyrocketing cost of higher education without student loans. But many graduates cannot find a job and cannot pay off the loans. As a result, they wind up in a much deeper hole (as the interest and collection fees accrue) with no way out.

Student loan debt in the U.S. now totals more than $1 trillion. That’s more than all the outstanding credit card debt in the country.

A recent report by the National Association of Consumer Bankruptcy Attorneys found that both students and parents are borrowing at record rates.

College seniors who graduated with student loans in 2010 owed an average of $25,250, up five percent from the previous year. Parents had an average of $34,000 in student loans for their children. The report says the number of these parental loans has jumped 75 percent since 2005-2006.

“These are enormous numbers,” says Ike Shulman, a bankruptcy attorney in San Jose, Calif. “They’re basically setting us up for having a large number of fellow citizens become economically non-functional for the rest of their adult lives.”





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Response to xchrom (Reply #6)

Thu Feb 23, 2012, 08:18 AM

9. more than $1 trillion!


Yikes, and many of these graduates have no job prospects, and both students and parents have loans. Not good.

It used to be a person could go to college, and do work-study to avoid loans. After college, people got jobs and went into debt for a house.

Now graduates have more debt than I paid for my first house $21,900.



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Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 08:41 AM

10. A quick note to say thanks.

To Tansy for keeping the proud tradition of the SMW going... Nice job!

and to the usual contributors! Keep up the great effort!

(Nice 'toon today. )

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Response to Hugin (Reply #10)

Thu Feb 23, 2012, 09:16 AM

11. i'll 2nd that emotion...

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Response to Hugin (Reply #10)

Thu Feb 23, 2012, 10:00 AM

18. You are most welcome!

I'm only sorry that I have not been able to contribute more!

There are many thoughts and questions going around in my head, but alas, not sufficient time. . . .

y'know?

But it's good to see you again. Drop in more often! (and maybe you can get sparkly hearts, too!)

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Response to Hugin (Reply #10)

Thu Feb 23, 2012, 11:07 AM

27. Yes! Yes! Yes! Thank you Miss Tansy and...

thank you to the SMW gang for being my cyber friends. Drinks all around.

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Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 09:18 AM

12. I have a bizarre feeling about today.

I do not consider myself psychic in any way, so there are no claims of having anticipated great disasters or whatever in the past. Today just feels weird.

The BF had the "debate" on the tv while I was washing dishes last night, so I was forced to listen to some of that absolute nonsense coming out of the mouths of grown men whose mothers should have taken them aside and smacked some sense into them many years ago.

The worst of it was that they sounded STUPID. Stuttering and stammering because they didn't have their brains organized enough to make reasoned responses to questions, they came across as not really knowing anything. I don't know which one said there needed to be more federal funds for abstinence education "that works," except it doesn't. Over and over and over, every single study that I've ever seen has shown that abstinence education does not prevent young people from engaging in sex, does not reduce the number of teen-age girls becoming pregnant, does not reduce the number of abortions. It's commonsense sex education that reduces pregnancies and abortions.

If you haven't already, read Charlie Pierce's "Idiot America." Talk about hammer meeting nail! What was on tv last night -- I'm ashamed to say it happened in Arizona, but it did -- was "Idiot America" in action. The lunatic fringe has not only gained a forum for its lunacy, but it has moved from merely being entertaining (in a sick sort of way) to being believed.

Rick Santorum is indeed a disgusting little bully. A mean, nasty little kid who has grown up to be a vicious, frightening bully. The cartoons of him peeering into bedroom windows are no joke -- he wants to get government out of the education business and back into the morality business. He's a latter day Cotton Mather.

I overheard a conversation the other day about Henry VIII, someone wondering who was king after him. There was no answer from the group of idlers in the coffee shop until someone said they thought Elizabeth I came next. Of course, that's the wrong answer. First there was poor Edward VI, the boy king of Twain's "The Prince and the Pauper" fame. Upon his death, there was Bloody Mary, granddaughter of Ferdinand and Isabella, the "Catholic Kings" of Spain, who not only financed Columbus but forcibly expelled the Jews from Spain and established the Spanish Inquisition. (The inquisition itself had existed for several hundred years, but the office in Spain was under direct royal control, virtually independent of the Church.) Mary married one of her not-too-distant cousins, Phillip of Spain, and her war on Protestants -- the Church of England was created by her father as a result of the Pope's refusal to grant him a divorce from Mary's mother, Catherine -- began.

"It's not Normans I hate, it's injustice," Errol Flynn's Robin Hood said to Olivia de Havilland's Maid Marian in 1939. So it's not Catholics I hate, it's intolerance.

I do not see anything good coming from Santorum's campaign; I see only hate and loathing and fear and anger and evil. Santorum is evil in a way even booosh wasn't evil. Booosh was a buffoon, a petty bully who liked the power handed to him but who didn't really know how or want to wield it for his own purposes. Santorum is evil, and if given the power he will use it.

But today there is something else in the wind and I don't know what it is.



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Response to Tansy_Gold (Reply #12)

Thu Feb 23, 2012, 09:38 AM

16. Saw on Twitter: "The real winners of the Republican debate were the people who didn't watch."



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Response to DemReadingDU (Reply #16)

Thu Feb 23, 2012, 10:14 AM

20. Jon Stewart said Noot was swallowed by a giant snake.

I guess that makes us all winners!

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Response to Po_d Mainiac (Reply #19)

Thu Feb 23, 2012, 11:22 AM

30. +1 n/t

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Response to Tansy_Gold (Reply #12)

Thu Feb 23, 2012, 10:25 AM

23. Idiot Amerika indeed!

Tuesday, I got tired of putting the garden in, and had to run a few errands, so, I fired up the hawg, ran them, and my last stop was my favorite watering hole, to spend some quality time with my favorite barmaid.

The guy sitting next to me is having a conversation with another guy, and asking my opinion. He's talking about all of Noot's brilliant ideas, and how Romney is really a self-made man who actually pays a 50% tax rate, after you add the 35% corporate tax rate that Bain paid.

My tongue is still swollen from biting it. You just want to scream, "Are you a total, complete idiot to believe that bullshit!?!?!?"

Yes. They're really out there. Millions of them. And as far as I'm concerned, they deserve what they get. The downside is, they're going to take the rest of us with them.

At least I got the Garden Of Eatin' in. I may dig up some more ground tomorrow, and plant some sweet potatos.

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Response to Fuddnik (Reply #23)

Thu Feb 23, 2012, 11:19 AM

28. Sometimes it appears the only sane people are here




What is wrong with people who hear something out of a politician, and don't realize it's total BS.


Can't plant a garden yet in Ohio, but can you believe, I spotted a dandelion blooming in my yard...in February!


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Response to Fuddnik (Reply #23)

Thu Feb 23, 2012, 12:34 PM

34. Corporate/Business taxes are figured after expenses (on net income)

Douch Beck is their source.

That 50% figure don't pass the straight face test.

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Response to Tansy_Gold (Reply #12)

Thu Feb 23, 2012, 11:20 AM

29. I have felt an ill wind blowing our way since late last year.

I have even felt something ill in my house. I have been leaving the jazz on all day while I'm gone and I have been smudging and I still sense bad juju. it must be pressure from the "Man" trying to keep us all down. Take care everyone and watch your backs.

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Response to Hotler (Reply #29)

Thu Feb 23, 2012, 01:38 PM

47. This was what was driving me crazy during the winter break.....

back in December. I ran myself ragged but I couldn't stop preparing because of the sense of urgency. No it was not the Mayan thing, but there is some wickedly bad juju out there. Finally got the money this week from my 403B and am putting it where it will be as safe as I can make it and that has gone a long way to easing some anxiety.

I wake up between 1-2 in the morning and am up an hour or two before I can go back to sleep. There is no noise but something keeps waking me with a start. In December-it was family and people that have been long dead that I would see in my minds eye when I woke up. Then I revisited places I had been. Several nights ago, I dreamed I was back in Cloudcroft NM (one of my fav spots on this planet). Laterly I have no dreams, I just wake up with a feeling. It is the same feeling I get when a hurricane is in the gulf-that same stillness before all hell breaks loose and the Kracken is released.

Maybe it is the Greek thing-it has been on my mind a lot lately. I have been reading blogs about first hand accounts there. It is horrendous. I think Greece is collapsing into war and chaos. The people are being scape goated and the rest of the world is buying into it. I have also been hearing about Homs Syria. All tragedy and no comedy. Yep, things are popping all over.

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Response to Tansy_Gold (Reply #12)

Thu Feb 23, 2012, 03:52 PM

58. Blaise Pascal said it best

"Men never do evil so completely and cheerfully as when they do it from religious conviction."

Sound familiar?

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Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 09:18 AM

13. Annual inflation rate dips to 2.2% {ireland}

http://www.irishtimes.com/newspaper/breaking/2012/0223/breaking21.html

?ts=1330006128

The annual rate of inflation eased to 2.2 per cent in January, new data from the Central Statistics Office showed today.

The dip comes after a reading of 2.5 per cent in the year to December, and compares to a fall of 0.2 per cent in January 2011.

The decline was driven in part by a fall in the price of household furnishings and equipment, which was 1.9 per cent lower than a year earlier. Clothing and footwear also showed a decline, with prices dipping by 1.1 per cent. The cost of recreation fell by 1 per cent.

The declines were offset in part by an 8.9 per cent rise in the cost of education compared to last year, and a 6.7 per cent rise in housing and utility prices. In the latter case increased in mortgage interest repayments contributed to the rise.

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Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 09:19 AM

14. Europe (largely) flat. US futures rather flat. EURUSD happy w/German business confidence index.

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Response to Roland99 (Reply #14)

Thu Feb 23, 2012, 10:16 AM

21. US futures "rather flat?"

Ain't u optimistic this morning

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Response to Po_d Mainiac (Reply #21)

Thu Feb 23, 2012, 10:20 AM

22. It's a weird day. Up slightly before, down after open, now a 100pt swing to the black!

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Response to Roland99 (Reply #22)

Thu Feb 23, 2012, 10:28 AM

24. Yep, very weird.

Nobody knows what to believe.

Do we shit, or go blind?

That, and other questions will be answered on the next episode of Soap!

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Response to Fuddnik (Reply #24)

Thu Feb 23, 2012, 10:44 AM

25. and yesterday's volume was very low. outflows are still in the billions

it's almost down to the house just playing with its own money.

people aren't coming to the table.

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Response to Fuddnik (Reply #24)

Thu Feb 23, 2012, 12:37 PM

35. Cover all eventualities--Do Both!

I am incredibly lazy. It's been too much strain for too long.

Now they threaten us with 6 inches of snow, but there's nothing happening. Just that feeling of suspense and anticipation.

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Response to Roland99 (Reply #22)

Thu Feb 23, 2012, 10:52 AM

26. They say that viagra (and QE) will do that n/t

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Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 09:30 AM

15. Oil stays above $106 despite US crude supply jump

http://hosted.ap.org/dynamic/stories/O/OIL_PRICES?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2012-02-23-07-52-57

Oil prices rose to nine-month highs above $106 a barrel Thursday, driven by market confidence in Germany and continued concerns about tensions over Iran's nuclear program.

By early afternoon in Europe, benchmark crude for April delivery was up 10 cents to $106.38 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 3 cents to settle at $106.28, the highest since May, in New York on Wednesday.

In London, Brent crude was up $1.17 to $124.07 per barrel on the ICE Futures exchange.

German business confidence rose for the fourth consecutive month in February, raising hopes that Europe's biggest economy is growing again after a contraction of 0.2 percent in the last quarter of 2011.

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Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 09:57 AM

17. The Next 5 Emerging Economies That Will Change the World

http://www.theatlantic.com/international/archive/2012/02/the-next-5-emerging-economies-that-will-change-the-world/253463/



About 20 years after the Soviet Union collapsed, China opened, India liberalized, and Brazil saved its economy with the Plano Real, and 10 years after a banker at Goldman Sachs labeled them the BRICs, those four economic rising powers have transformed how we think about the developing world. The centuries-old idea that there is an uncrossable gulf between powerful, rich countries and everyone else has been disproven not just by BRICs' economic power but by their use of that power to help shape world events.

You might say that the glass ceiling has been broken. China, once the "sick man of Asia" and one of the world's poorest places, now boasts the world's second-largest economy and may someday soon even surpass the U.S. in wealth. Now that we understand the global hierarchy to be less fixed than it once was, who will rise next? The conditions for a rising power are so complicated and so reliant on outside factors beyond any one country's control that accurately predicting them would be impossible. Still, some countries seem better positioned and better managed than others. Here are five of our choices for the next emerging economies, plus one outlier that could do well, if only it would pull itself together.

TURKEY

When the Brookings Institute ranked the ten fastest-growing cities last month, three were Turkish (four were Chinese, but we can't all be China). The country's strong democratic institutions and entrepreneurial culture are driving booms in finance and construction, which are in turn growing cities that could become centers of manufacturing for export to Europe. Even as the rest of the continent declines, Turkish growth is surging; it famously hit 11% last year, surpassing China. And, a century after the end of the Ottoman Empire, the country is renewing its assertive foreign policy in the Middle East and Central Asia, positioning itself as a leader of the Muslim world if (or perhaps when) these regions develop.

INDONESIA

The world's fourth-largest country with 238 million people, Indonesia's economy has been growing rapidly since 1997. Unlike China, which depends heavily on exports, Indonesia sells mostly to its own people, meaning that it can better endure the U.S. and European crises. Debt is low, foreign direct investment is high, democratic institutions are young but solid, and the once-troubled country is stable after successfully curbing terrorism. A combination of China-style development and state-run enterprises, Brazil-style good governance, and an India-style rise from poverty means that Indonesia is well positioned to continue rising.

KAZAKHSTAN

Long perceived as a global backwater and a post-Soviet satellite that never quite abandoned such Stalinist ticks as lifelong presidents who build statues of themselves, Kazakhstan is doing better than Borat would have you believe. Filthy rich in resources and sandwiched between China and Russia, the country is well positioned to profit off of Asia's rise, especially as Middle Eastern turmoil makes this sparsely populated and stable country an attractive energy source. The mostly benevolent government is investing the revenue wisely, growing infrastructure and non-energy industries such as transportation and pharmaceuticals, while still avoiding overheating. As long as Asia grows, so will Kazakhstan.

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Response to xchrom (Reply #17)

Thu Feb 23, 2012, 12:41 PM

36. I wouldn't count my emerging economies until they've hatched

Unless and until we kill of the Corporate Dinosaurs that terrorize the world economy, nobody is going to progress as a nation.

The Corporations want to supplant and own the nations, just as they want to own people and resources.

They must be killed off, and any new ones never allowed to grow to gigantic size again. Corporations must be domesticated. These are rabid.

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Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 12:18 PM

31. Nation's wealth gap widens as economic crisis grinds on {spain}

http://elpais.com/elpais/2012/02/23/inenglish/1329999322_882593.html

The economic crisis is increasing the inequality gap between rich and poor in Spain, a report sponsored by the charity group Cáritas shows. The latest analysis indicates that 580,000 households have no income whatsoever, a 34-percent rise from 2007, while home foreclosures quadrupled to nearly 100,000 in 2010.

The figures are painful by themselves, but even more so when compared with the rest of the European Union: the Spanish poverty rate is now the third highest in the group of 21 member states, only lower than Romania and Latvia.

The gap between rich and poor has also been widening in recent years. Inequality growth in Spain between 2007 and 2010 was twice that of France, three times that of Germany and almost five times the EU average.

These results, which constitute a clear threat to social cohesion in Spain, were released on Wednesday by the FOESSA Foundation, a social studies group sponsored by the Catholic charity Cáritas.

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Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 12:21 PM

32. Brussels to talk with Spain on new budget deficit target

http://elpais.com/elpais/2012/02/23/inenglish/1330010254_777607.html

After acknowledging the Spanish economy would slip back into recession this year, the European Commission on Thursday left the door open to easing the country’s deficit target for this year.

The EC expects the Spanish economy to contract one percent in 2012, but warned the outlook could worsen due to the need for further austerity measures.

“Taking into account additional fiscal measures in the forthcoming budget may significantly change the picture,” the EC said in its interim report on the growth prospects for European Union member countries.

Spain wants to run a deficit for this year of slightly over five percent of GDP, compared with the target previously agreed with Brussels of 4.4 percent.

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Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 12:51 PM

37. Bitcoin Exchange's Crisis Bodes Ill for Payment Innovation

http://www.americanbanker.com/issues/177_34/bitcoin-tradehill-exchange-digital-currency-risks-licensing-1046795-1.html?zkPrintable=1&nopagination=1

Regulation is stunting the growth of digital currency businesses that pose a long-term competitive threat to banks.
The latest to get caught in the regulatory thickets is TradeHill, a Bitcoin exchange that has suspended trading until it can get licensed as a money transmitter. Its reasons for retreating echo the concerns of Facebook Inc., which has been pursuing money transmitter’s licenses to legitimize the social network’s Facebook Credits. That TradeHill, which shut down its service and returned its clients' funds on Feb. 13, and others like it would run into regulatory challenges was almost a given. Bitcoin, a digital currency with no central issuing authority, is touted by its users and admirers as being outside the control of any government. Though Bitcoins can't be stored in traditional bank accounts, the exchanges that trade them for dollars and euros depend on numerous payments providers, which ultimately are attached to bank accounts, for funding. Had TradeHill been found culpable of operating a money services business without a license, it would have had no chance of returning to business of any kind, experts say.

"It was smart and proactive on their part, and they heeded the legal advice they received, which said to them, 'If you want to continue operating in the U.S. jurisdiction, you have to become a licensed money services business,' " says Jon Matonis, a payments industry veteran and creator of the blog The Monetary Future.
In a letter to customers TradeHill said it shuttered as a result of mounting regulatory pressure, the closing of multiple bank accounts associated with its business, and other factors. (TradeHill did not respond to repeated requests for an interview.) It was one of the largest services that people use to exchange government-issued money for Bitcoins. There are approximately a dozen such exchanges worldwide. The largest one, Mt.Gox, is based in Japan. Mt.Gox does not have a money transmitter's license either, so it may soon encounter similar problems. The Financial Crimes Enforcement Network said last year that money service businesses with no physical locations in the U.S. are now subject the same regulations as domestic providers if they transact in this country electronically. Mt.Gox, in an email, said it is pursuing appropriate licensing in its home country as well as the U.S., the U.K., and Australia. "There is no exact E.T.A. on when we are going to get these licenses but we are … actively working on this and speaking to the correct authorities," a Mt.Gox representative wrote.

TradeHill's sudden closure is certain to have a ripple effect on the Bitcoin economy. About 200,000 Bitcoins, worth more than $1 million, change hands each day. BitInstant, a New York company that helps move funds into the exchanges, said about half of the $50,000 it handles each day was transacted over TradeHill. "It was our biggest revenue stream, and when they told us it was closing down, I was very scared," says Charlie Shrem, chief executive officer of BitInstant. Since the shutdown, business has rerouted to Mt. Gox and other exchanges, Shrem says. Not pursuing the appropriate licensing would also have risked allowing customer funds to be seized by the authorities, says Carol van Cleef, a partner at the law firm of Patton Boggs LLP, in Washington.

"For small, entrepreneurial companies, the time and day is over when you can start a payments business and try to grow it to the point where you can then afford to get compliant," van Cleef says. Other alternative payments providers have gone through similar growing pains. PayPal Inc. had to pursue the proper licensing in its early days. But today the deck is especially stacked against smaller companies, which often lack the resources to meet compliance costs, experts say. The process of registering with FinCen as a money services business, and of getting money transmitter licenses from the 43 states that require them, is time-consuming and costly, often running between $750,000 and $1 million. Facebook, which has deeper pockets than the average startup, is taking the trouble. It revealed in its prospectus to sell shares to the public that it’s pursuing money transmitter licenses, and it’s obtained them in at least two states, Georgia and Delaware, according to the websites of the regulators there....An example of crippling regulation, cited by numerous experts, is the story of Think Computer Corp.'s FaceCash, which was forced to shut down last summer following passage of California's Money Transmission Act....Among other things, the law requires money transmitters to maintain securities on deposit, or a bond of surety, of at least $500,000 or 50% of daily unsettled accounts. They must hold an additional $250,000 to $7 million for receiving and transmitting money...

MUCH MORE AT LINK


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Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 12:59 PM

39. GREECE: Saving private wages: heroic act or con trick?

http://www.ekathimerini.com/4dcgi/_w_articles_wsite3_1_06/02/2012_426293

...the street hustlers have nothing on Greece’s politicians...Within minutes of PASOK’s George Papandreou, New Democracy’s Antonis Samaras and Popular Orthodox Rally’s (LAOS) Giorgos Karatzaferis completing their make-or-break talks with Prime Minister Lucas Papademos on Sunday night, statements about battles being fought and rights being salvaged were launched into the Athens night. Samaras and Karatzaferis led the charge of the white knights who claimed to have ridden to the rescue of the embattled Greek citizen. Their argument was that through “tough negotiations” they had saved, or were on the way to saving, the 13th and 14th monthly salaries in the private sector. Papandreou, whose credibility has already been shot to pieces, maintained a lower profile, while Papademos – to his credit – refrained altogether from engaging in this poppycock. In the more sobering light of a wintry Athens morning and if reports are accurate, claims that red lines were drawn and wages ringfenced are worth no more than claims by card dealers on Adrianou that their games are not rigged.

While the leaders of Greece’s three coalition parties did not agree to the scrapping of 13th and 14th monthly salaries in the private sector, it seems they did accept a substantial reduction to the minimum wage. According to reports, the minimum wage – which currently stands at 751 euros per month (gross) – is to be slashed by 20 to 22 percent. The first thing to note is that this will lead to the minimum wage dropping to between 585 and 600 euros per month before tax, meaning that someone in work could be earning as little as 470 euros per month after tax. In cities like Athens and Thessaloniki, unless there is a shift in the cost of living, it’s highly questionable whether these will even be subsistence wages. Beyond that, the reduction would mean that the minimum wage will drop close to the level of the monthly unemployment benefit of 461 euros that Greeks receive for the first year they are out of work. This means unemployment pay will also have to be reduced; otherwise there will be no incentive for those out of work to take jobs on or just above minimum pay. Some reports have suggested it will fall to 369 euros.

Then, there’s the issue of pensions. A downward shift in salary levels means that social security contributions will also decline and there’s little doubt that pension payments will also have to be adjusted to sustainable levels. However, perhaps we could excuse all this for the sake of snatching those 13th and 14th monthly salaries from the jaws of the troika. The fact they are paid in Easter, summer and Christmas does not make them holiday bonuses: these are about 15 percent of regular private sector salaries. So, surely safeguarding this chunk of Greeks’ wages and therefore preventing further damage to aggregate demand and exacerbating the recession is a true victory?

Here’s the problem, though. Private sector wages are regulated by the national collective contract agreed by labor unions and employers, or by sector-specific deals negotiated in the same way. Apart from the fact that the minimum wage provides the basis for the pay structure in these contracts (if the base drops by 20 percent, it stands to reason that everything else will drop by 20 percent as well), the deals remain in force even after they expire (metenergeia (continued effect) in Greek). So, if employers and unions fail to agree a new contract within six months of the previous one running out, the terms of the expired deal continue to apply. What the party leaders are about to sign up to – again, if reports are correct – is the substantial reduction of the minimum wage and the abolition of the principle of metenergeia, or nachwirkung as its known in German law. In other words, if employers and unions manage to agree on new collective contracts, the baseline will be 20 percent lower than before, thereby affecting all the wage brackets above it. If the two sides don’t agree on new deals, employers will be free to negotiate individual deals with their employees. The basis for these agreements? The new, 20-percent-reduced, minimum wage...While some of the political leaders will proclaim their role as saviors of Greeks’ hard-earned crusts by protecting the 13th and 14th salaries, it seems that all they have managed to achieve is swap a 15 percent reduction, which would have occurred if those monthly wages were lost, with a 20 percent one that will come with the slashing of the minimum wage and the terms under which collective contracts apply. Rather than two monthly salaries, Greek private sector workers are set to lose three.

The fact that some people are portraying this as a victory for their negotiating technique means that either they are woefully misinformed or, as is more likely, they are being intentionally duplicitous....

WELL, THEY ARE BANKSTERS, MASQUERADING AS POLITICIANS, SO THAT'S A GOOD BET

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Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 01:19 PM

42. Uncle Sam’s Fire Sale. Minimum Investment: $1 Billion By Addison Wiggin

http://dailyreckoning.com/uncle-sams-fire-sale-minimum-investment-1-billion/

...the federal government is about to dump millions of the foreclosed homes at fire-sale prices to hedge funds and private-equity firms with government connections. If you’re an individual investor who might like to get in on the action, forget it! You’re shut out of this deal.

Homeowners who might be interested in buying the foreclosure property next door? Out of luck. And retirees hoping for a return on their money more than 1.8% on a five-year CD find another avenue closed off.

Prior to the calamity of 2008, we might have thought the deal we’re profiling today unthinkable. But now we’re becoming as immune to new instances of blatant cronyism as American babies are to diphtheria.

If you’ve got the hammer for it, we may as well get down to brass tacks: As many as 10,000 properties might be unloaded in a single transaction during the first quarter of 2012 — thanks to a government program so new it doesn’t have a catchy name yet, only the working title “Enterprise/FHA REO Asset Disposition.”...Roger Arnold, chief economist for Pasadena, Calif.-based ALM Advisors, has a different name for it — “the largest transfer of wealth from the public to the private sector.”


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Response to Demeter (Reply #42)

Thu Feb 23, 2012, 01:20 PM

43. IMV

“The US taxpayer will get pennies on the dollar for these homes, and then be allowed to rent them back at market rates.”

Read more: Uncle Sam's Fire Sale. Minimum Investment: $1 Billion http://dailyreckoning.com/uncle-sams-fire-sale-minimum-investment-1-billion/#ixzz1nELe7YNv

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Response to Demeter (Reply #42)

Thu Feb 23, 2012, 04:19 PM

60. Fuckers! n/t

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Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 01:25 PM

44. Finance Watch – a lobby to break the lobbies

http://www.presseurop.eu/en/content/article/1542771-finance-watch-lobby-break-lobbies

Joost Mulder knows all the tricks. For five years this clever Dutchman worked the Brussels legislative machine on behalf of financial institutions. Playing a political game in a network made up of the European Commission, the European Parliament and the Council of Ministers of the 27 governments was his profession. Speaking four languages and knowing everyone, the 31-year-old glided smoothly through the bazaar of Brussels policymakers – he was a model lobbyist.

Sometimes he and his colleagues choked off legislative initiatives. Or else, using his contacts among officials at EU headquarters, he got hold of controversial regulations still at the first-draft stage just in time to organise a stream of objections from many seemingly independent sources. If there was merely an undesirable paragraph to be blocked at the Commission or in the European Parliament, it was simply a matter of putting together a blocking minority in the Council. “‘Lobbyists gladly promise their clients, ‘Give me a 10,000 euro fee and I’ll make sure your position becomes an issue in the Council,’” he says.

But things are different now. Mulder has turned a page. When last year financial lobbyists went so far as to “blackmail individual governments by threatening to withdraw capital and jobs, it was the final straw,” he says. “Making finance serve society” is now on his business card as head of the Public Affairs department of an organisation called Finance Watch.

Charlie McCreevy – a captive Commissioner

There too he has been hired as a lobbyist – only now he lobbies for a firm that is unique in the world of Brussels politics. At Finance Watch, experienced financial professionals aim to take on the might of the financial lobbyists and steer that power back to their own purposes: mobilising financial services for productive ends.

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Response to xchrom (Reply #44)

Thu Feb 23, 2012, 01:53 PM

50. SOUNDS LIKE THE BIRTH OF A CONSCIENCE

AND YOU KNOW WHERE THAT LEADS...

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Response to Demeter (Reply #50)

Thu Feb 23, 2012, 03:04 PM

57. I love that painting.

I've seen it at the louvre.

And while I knew the louvre was a residence - it blows your mind when you see it in person. The revolution made perfect sense.

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Response to Demeter (Reply #50)

Thu Feb 23, 2012, 03:56 PM

59. Whatever you do,

don't let John Ashcroft near that painting!

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Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 01:28 PM

45. The Book of Jobs By Maureen Tkacik IMV AGAIN!

http://blogs.reuters.com/great-debate/2012/02/22/the-book-of-steve-jobs-apple/

Steve Jobs smelled so foul that none of his co-workers at Atari in the seventies would work with him. Entreating him to shower was usually futile; he’d inevitably claim that his strict vegan diet had rid him of body odor, thus absolving him of the need for standard hygiene habits. Later, friends would theorize that he had been exercising what would prove a limitless capacity for sustained and gratuitous lying that came to be nicknamed the “reality distortion field.”

Jobs originally learned the “reality distortion field” from Bob Friedland, an enterprising hippie he met by chance one day when he returned early to his dorm room and found Friedland having sex with Jobs’ girlfriend. Bob was four years older than Steve, and had taken two years off to serve a prison sentence for LSD trafficking. Like Steve, Bob would eventually become a billionaire, just in the mining business. His followers would often invoke his old drug dealer nickname “Toxic Bob.”

BEHIND EVERY GREAT FORTUNE IS A GREATER CRIME, AND EVIDENTLY, REALLY HORRIBLE PEOPLE...

His management maxim: “It’s better to be a pirate than join the Navy.”

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Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 01:38 PM

46. TODAY FOR TAKING DOWN MONUMENTS: What Really Happened in the “Yom Kippur” War?

by ISRAEL SHAMIR

http://www.counterpunch.org/2012/02/22/what-really-happened-in-the-yom-kippur-war/

...The secret file, written by the Soviet Ambassador in Cairo, Vladimir M. Vinogradov, apparently a draft for a memorandum addressed to the Soviet politbureau, describes the 1973 October War as a collusive enterprise between US, Egyptian and Israeli leaders, orchestrated by Henry Kissinger. If you are an Egyptian reader this revelation is likely to upset you. I, an Israeli who fought the Egyptians in the 1973 war, was equally upset and distressed, – yet still excited by the discovery. For an American it is likely to come as a shock.

According to the Vinogradov memo (to be published by us in full in the Russian weekly Expert next Monday), Anwar al-Sadat, holder of the titles of President, Prime Minister, ASU Chairman, Chief Commander, Supreme Military Ruler, entered into conspiracy with the Israelis, betrayed his ally Syria, condemned the Syrian army to destruction and Damascus to bombardment, allowed General Sharon’s tanks to cross without hindrance to the western bank of the Suez Canal, and actually planned a defeat of the Egyptian troops in the October War. Egyptian soldiers and officers bravely and successfully fought the Israeli enemy – too successfully for Sadat’s liking as he began the war in order to allow for the US comeback to the Middle East.

He was not the only conspirator: according to Vinogradov, the grandmotherly Golda Meir knowingly sacrificed two thousand of Israel’s best fighters – she possibly thought fewer would be killed — in order to give Sadat his moment of glory and to let the US secure its positions in the Middle East. The memo allows for a completely new interpretation of the Camp David Treaty, as one achieved by deceit and treachery....

...Vinogradov takes a leaf from Sherlock Holmes who said: when you have eliminated the impossible, whatever remains, however improbable, must be the truth. He writes: These questions can’t be answered if Sadat is to be considered a true patriot of Egypt. But they can be answered in full, if we consider a possibility of collusion between Sadat, the US and Israeli leadership – a conspiracy in which each participant pursued his own goals. A conspiracy in which each participant did not know the full details of other participants’ game. A conspiracy in which each participant tried to gain more ground despite the overall agreement between them....

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Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 01:44 PM

48. WikiLeaks: Saudis often warned U.S. about oil speculators

http://www.mcclatchydc.com/2011/05/25/114759/wikileaks-saudis-often-warned.html#storylink%3dcpy

When oil prices hit a record $147 a barrel in July 2008, the Bush administration leaned on Saudi Arabia to pump more crude in hopes that a flood of new crude would drive the price down. The Saudis complied, but not before warning that oil already was plentiful and that Wall Street speculation, not a shortage of oil, was driving up prices. Saudi Oil Minister Ali al Naimi even told U.S. Ambassador Ford Fraker that the kingdom would have difficulty finding customers for the additional crude, according to an account laid out in a confidential State Department cable dated Sept. 28, 2008, "Saudi Arabia can't just put crude out on the market," the cable quotes Naimi as saying. Instead, Naimi suggested, "speculators bore significant responsibility for the sharp increase in oil prices in the last few years," according to the cable.

What role Wall Street investors play in the high cost of oil is a hotly debated topic in Washington. Despite weak demand, the price of a barrel of crude oil surged more than 25 percent in the past year, reaching a peak of $113 May 2 before falling back to a range of $95 to $100 a barrel. The Obama administration, the Bush administration before it and Congress have been slow to take steps to rein in speculators. On Tuesday, the Commodity Futures Trading Commission, a U.S. regulatory agency, charged a group of financial firms with manipulating the price of oil in 2008. But the commission hasn't enacted a proposal to limit the percentage of oil contracts a financial company can hold, while Congress remains focused primarily on big oil companies, threatening in hearings last week to eliminate their tax breaks because of the $38 billion in first-quarter profits the top six U.S. companies earned.

The Saudis, however, have struck a steady theme for years that something should be done to curb the influence of banks and hedge funds that are speculating on the price of oil, according to diplomatic cables made available to McClatchy by the WikiLeaks website. The cables show that the subject of speculation has been raised in working group meetings between U.S. and Saudi officials, in one-on-one meetings with American diplomats and at least once with President George W. Bush himself. The Saudi concerns about speculation have a particular sheen of credibility. Saudi Arabia is the world's largest exporter of oil, serving dozens of clients in addition to the United States. As such, it carefully tracks the trends that drive oil prices, which send it billions of additional dollars with every increase. But in the cables, Saudi officials explain that they have two primary concerns about artificially high crude prices: that they'll dampen the long-term demand for oil and that the wide price swings typical of commodity speculation make it difficult for them to plan future oil field development. After that $147 a barrel peak in 2008, for example, prices plunged to $33 a barrel as the global financial crisis rocked the world. That was a stunning change in less than half a year. One cable recounts how Dr. Majid al Moneef, Saudi Arabia's OPEC governor, explained what he thought was the full impact of speculation to U.S. Rep. Alan Grayson, D-Fla., who in July 2009 was in Saudi Arabia for the first time. According to the cable, Moneef said Saudi Arabia suspected that "speculation represented approximately $40 of the overall oil price when it was at its height." Asked how to curb such speculation, Moneef suggested "improving transparency" — a reference to the fact that most oil trading is conducted outside regulated markets — and better communication among the world's commodity markets so that oil speculators can't hide the full extent of their trading positions. Moneef also suggested that the U.S. consider "position limits" — restrictions on how much of the oil market a company can control — something the CFTC is considering. But the proposal to prevent any single trader from accumulating more than 10 percent of the oil contracts being traded hasn't received final approval, and the CFTC also has yet to define what it considers excessive speculation.

.........................................................................................................

A McClatchy investigation earlier this month showed the extent to which financial institutions now influence the price of oil. Until recently, end users of oil — such as airlines, refineries and other consumer of fuel — accounted for about 70 percent of oil trading as they tried to hedge against price fluctuations. Today, however, speculators who'll never take possession of a barrel of oil account for that 70 percent of oil futures trading, and the volume of speculative trading has grown fivefold.

MORE

SEE ACTUAL LEAKED CABLES AT LINK

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Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 01:50 PM

49. Men Aren’t Going Extinct, Scientists Assure World

I HAVE MIXED FEELINGS ABOUT THIS NEWS...DON'T GET ME WRONG, SOME OF MY BEST FRIENDS ARE MEN...AND ALL OF MY WORST NIGHTMARES


http://www.bloomberg.com/news/2012-02-23/men-aren-t-going-extinct-research-on-shrinking-y-chromosome-determines.html

Men aren’t going extinct, scientists assured the world yesterday.

The Y chromosome, the strand of DNA that determines male sex, contained about 800 genes some 200 million years ago. Now, though, it has only 30, leading some scientists to conclude it could disappear altogether, bringing about the end of men.

That’s probably not the case, said Jennifer Hughes, a researcher with the Whitehead Institute for Biomedical Research, in Cambridge, Massachusetts. The number of genes on the chromosome has been stable for at least the past 25 million years, she and her colleagues found in a study reported in the journal Nature.

“Although the Y chromosome did suffer quite a bit over the course of evolution, it seems like what remains of it is not going anywhere,” Hughes said in a telephone interview. “The genes that remain on it have critical biological functions, and that means they are going to survive.”

THIS TIES IN SO NICELY WITH TODAY'S CARTOON.....

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Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 02:06 PM

51. RBS bonus cuts offset by big salary increases


RBS will on Thursday reveal that it boosted fixed pay and benefits in its investment banking division by about a third in 2011

Read more >>
http://link.ft.com/r/DHGUVV/62S31P/GYN7Q/97YTZP/L965SZ/PJ/t?a1=2012&a2=2&a3=23

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Response to Demeter (Reply #51)

Thu Feb 23, 2012, 02:11 PM

54. How to free RBS from the shackles of state ownership


The 2011 figures Royal Bank of Scotland reported on Thursday demonstrate that the strategy to stabilise the bank has, broadly speaking, worked: a £45bn capital injection combined with aggressive deleveraging of the non core business has created a far sounder institution, as attested to by a core tier one ratio of 10.6 per cent at year end 2011, up from its lows of 4 per cent in 2008.

Plenty of risks remain, but the progress made so far is of huge credit to chief executive Stephen Hester and his team, write Paul Myners and Manus Costello.

http://link.ft.com/r/J0VG55/PFV46S/MJTKN/QNBWNT/C4P202/FW/t?a=2012&b=2&c=23

MAYBE IF THEY STOPPED STUPID TRICKS, LIKE THE PREVIOUS POST?

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Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 02:07 PM

52. Israel eyes break-up of conglomerates


Panel appointed by the government recommends splitting holdings in a move that would force tycoons to divest assets worth billions of dollars

Read more >>
http://link.ft.com/r/DHGUVV/62S31P/GYN7Q/97YTZP/WT4SHQ/PJ/t?a1=2012&a2=2&a3=23

WE'LL SEE HOW FAR THAT GETS

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Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 02:09 PM

53. Germany fights eurozone firewall moves


Steffen Seibert, spokesman for Angela Merkel, insisted that Berlin saw no need to increase the size of the €500bn European Stability Mechanism

Read more >>
http://link.ft.com/r/LVA6WW/QN25TF/YGZ3O/KQPAEB/TU7EBU/ZH/t?a1=2012&a2=2&a3=23

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Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 02:13 PM

55. EXTRA! GOLDMAN DECLARES WAR ON JAPAN! SHADES OF 1941


Japan's 'happy depression' is at risk of turning unhappy
With the new Greek restructuring deal agreed, the question is whether fears about the sovereign debt crisis will abate or will the markets simply start looking elsewhere for other troubled waters?

In this regard, Japan increasingly looks like the real stand out, argues Jim O'Neill, chairman of the asset management division of Goldman Sachs and its former chief economist.
Read more >>
http://link.ft.com/r/G8OTZZ/8ZR1S5/1O51V/AMIH7O/U1MRA5/MQ/t?a1=2012&a2=2&a3=23

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Response to Tansy_Gold (Original post)

Thu Feb 23, 2012, 02:17 PM

56. That's it for now, I can't take any more of this time warp

See you all later, if there is a later.

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