STOCK MARKET WATCH, Friday October 30

[ozymandius]

Source: du

STOCK MARKET WATCH, Friday October 30, 2009

Bush Administration Officials Convicted = 1
Name(s): David Safavian

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

Financial Sector Officials Convicted = 6

AT THE CLOSING BELL ON October 29, 2009

Dow... 9,962.58 +199.89 (+2.05%)
Nasdaq... 2,097.55 +37.94 (+1.84%)
S&P 500... 1,066.11 +23.48 (+2.25%)
Gold future... 1,047 +16.60 (+1.61%)
10-Yr Bond... 3.49 +0.08 (+2.40%)
30-Year Bond 4.33 +0.07 (+1.74%)

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U.S. FUTURES & MARKETS INDICATORS
NASDAQ FUTURES..............................................S&P FUTURES

Market Conditions During Trading Hours

GOLD, EURO, YEN, Loonie, Silver and US$

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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

[Festivito]

1. Debt: 10/28/2009 11,893,668,881,089.01 (DOWN 7,760,430,658.90) (Wed)(16B,Surplus FY'10)

(The Obama surplus for fiscal year 2010 continues. A little more debt was added again today, and the FICA side made an unneeded drop, bringing the Obama surplus for FY'10 from 8B to 16B. Gosh, it's fun. Will it go for the whole month? Keep posted. The FICA side makes big changes at the end of each month so the rollercoaster will continue day to day. Good morning all.)

= Held by the Public + Intragovernmental(FICA)
= 7,476,449,717,282.13 + 4,417,219,163,806.88
UP 798,039,832.64 + DOWN 8,558,470,491.54

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 308-Million person America.
If every American, man, woman and child puts in $3.25 each THAT'S 1B$.
A family of three: Mom, Dad, Child: $9.75, ABOUT TEN BUCKS for a 1B$ 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 10 seconds we net gain a another American, so at the end of the workday of the report, there should be 307,829,661 people in America.
http://www.census.gov/population/www/popclockus.html ON 09/27/2009 07:13 -> 307,558,299
Currently, each of these Americans owe $38,637.18.
A family of three owes $115,911.53. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 22 reports in the last 30 days.
The average for the last 22 reports is 5,555,372,152.00.
The average for the last 30 days would be 4,073,939,578.13.

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$/day.
There were 20 reports in 28 days of FY2010 averaging -0.81B$ per report, -0.58B$/day.
Above line should be okay

PROJECTION:
There are 1,180 days remaining in this Obama 1st term.
By that time the debt could be between 11.2 and 18.0T$.
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)
10/28/2009 11,893,668,881,089.01 BHO (UP 1,266,791,832,175.93 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 -0,016,160,122,422.70 ----------BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
10/07/2009 +000,015,260,219.44 ------------*******
10/08/2009 -027,497,592,311.52 -
10/09/2009 -000,014,303,257.45 ----
10/13/2009 +010,339,703,734.17 ------------********** Tue
10/14/2009 +000,250,135,805.15 ------------********
10/15/2009 +040,455,301,335.22 ------------**********
10/16/2009 -000,034,671,440.79 ----
10/19/2009 +000,169,101,777.19 ------------******** Mon
10/20/2009 +000,084,506,561.85 ------------*******
10/21/2009 +000,260,615,642.06 ------------********
10/22/2009 -054,881,746,021.15 -
10/23/2009 -000,105,634,856.79 ---
10/26/2009 -000,680,933,964.04 --- Mon
10/27/2009 +000,626,474,250.98 ------------********
10/28/2009 +000,798,039,832.64 ------------********

-30,215,742,693.04 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

(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=4124096&mesg_id=4124103

[Festivito]

69. Debt: 10/29/2009 11,868,457,477,911.94 (DOWN 25,211,403,177.07) (Thu)(41B,Surplus FY'10)

(The Obama surplus for our current fiscal year, Obama's first all Obama fiscal year, continues. Monday afternoon we'll know if it will last a whole month. Good day to all.)

= Held by the Public + Intragovernmental(FICA)
= 7,456,680,623,919.04 + 4,411,776,853,992.90
DOWN 19,769,093,363.09 + DOWN 5,442,309,813.98

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 308-Million person America.
If every American, man, woman and child puts in $3.25 each THAT'S 1B$.
A family of three: Mom, Dad, Child: $9.75, ABOUT TEN BUCKS for a 1B$ 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 10 seconds we net gain a another American, so at the end of the workday of the report, there should be 307,838,301 people in America.
http://www.census.gov/population/www/popclockus.html ON 09/27/2009 07:13 -> 307,558,299
Currently, each of these Americans owe $38,554.19.
A family of three owes $115,662.58. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 22 reports in the last 30 days.
The average for the last 22 reports is 4,197,483,147.99.
The average for the last 30 days would be 3,078,154,308.53.

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$/day.
There were 21 reports in 29 days of FY2010 averaging -1.97B$ per report, -1.43B$/day.
Above line should be okay

PROJECTION:
There are 1,179 days remaining in this Obama 1st term.
By that time the debt could be between 10.2 and 18.0T$.
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)
10/29/2009 11,868,457,477,911.94 BHO (UP 1,241,580,428,998.86 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 -0,041,371,525,599.80 -------BHO
The Obama Surplus shows above this line.

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
10/08/2009 -027,497,592,311.52 -
10/09/2009 -000,014,303,257.45 ----
10/13/2009 +010,339,703,734.17 ------------********** Tue
10/14/2009 +000,250,135,805.15 ------------********
10/15/2009 +040,455,301,335.22 ------------**********
10/16/2009 -000,034,671,440.79 ----
10/19/2009 +000,169,101,777.19 ------------******** Mon
10/20/2009 +000,084,506,561.85 ------------*******
10/21/2009 +000,260,615,642.06 ------------********
10/22/2009 -054,881,746,021.15 -
10/23/2009 -000,105,634,856.79 ---
10/26/2009 -000,680,933,964.04 --- Mon
10/27/2009 +000,626,474,250.98 ------------********
10/28/2009 +000,798,039,832.64 ------------********
10/29/2009 -019,769,093,363.09 -

-50,000,096,275.57 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

(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=4125479&mesg_id=4125481

[ozymandius]

2. Market Observation

High Hopes for Greener Pastures
BY DANIELLE PARK

Over the past few years, I have referenced a recurring theme in economic history: high hopes that someone, somewhere, will be able to decouple from this global downturn and save the day for global growth.

This is very common human thinking; wishful thinking so to speak. Galbraith wrote often about the wide-spread belief leading up to the 30’s that somewhere there were big men who could put markets up and step in to save them from correcting. Eventually over the 20 year secular bear in stocks from 1920-1940, and the Great Depression, it became painfully clear that such high hopes were without foundation.

.....
It seems that we are all waiting on a miracle these days. The reality is we are all on life support together and a lasting economic recovery is likely to be slow and largely synchronous.

Meanwhile, speculation has officially gone free-money-mad in the world. Liquidity-dumps from governments have pooled into a multitude of bubbles as desperate players clamour to roll the dice.

http://www.financialsense.com/Market/wrapup.htm

[Demeter]

5. What We Need are More Women in Govt. Power

Women know there are no miracles, just hard work, sacrifice and tradeoffs.
Furthermore, women are the ones end up doing the hard work, so they don't dally. And they work cheap. And fast.

And I don't mean Hillary. She is always looking for that miracle, or that man to hitch her star to.

[AnneD]

21. Morning Marketeers...

:donut: lurkers, and fellow insomniacs. Everyone is up early today. Something is afoot.

Women in politics....hmmmm. I think Elisabeth Warren would be good, and I can name more, but I don't generally impart better characteristic to women just because they are women-they just run things differently. I am thinking Indira Gandhi here. Matriarchies are different and the only one I have ever had close contact with is Navajo and some Pueblo tribes. They tend to be more communal and co-operative but our culture is so hopped up on steroids I don't think it can be done, frankly.

I think it is not a case of either or, but of giving each voice a true say and give each it's true value. I like women and appreciate the wisdom and friendship. but I also appreciate my friendship with the men in my life-the humour and ease of their nature, yet also a deep desire to protect-as strong as mine, yet different.

It is a very soggy month here in Houston so, get another cup o joe and I will leave you with a good theme song today from the Soggy Bottom boys.....

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


Happy hunting ad watch out tor the bears

[Demeter]

24. I love that Film and all the Music!

It's true that most women are as most men--but the exceptional women are far more numerous and dogged. They truly have nothing to lose; when you have no value to society, society as presently corrupted has no value to you, either. Therefore overturning it seems eminently reasonable and the only real choice or hope!

[AnneD]

26. Point taken......

I am in a hillbilly gospel mood today. Fits the weather here I guess. Been thinking of some of these folks doing such evil meeting their maker and the bible verse saying that your real treasure is in heaven. I don't know what lies beyond the portal and I don't know what to wish for for some of these folks. I hope there is a God to deal with them. I'll leave that up to the Almighty.

Here's a few more snips for you Demeter a treat before Halloween. How about a Halloween-All souls Dia del muerte WEE.

www.youtube.com/watch?v=sdRdqp4N3Jw&feature=related

www.youtube.com/watch?v=VoIebIKNS4s

www.youtube.com/watch?v=nTsjsbrD80s&feature=related

[Demeter]

27. After this morning, I'm Really in a V for Vendetta Mood

but I'm sure that can keep--after all, it IS Halloween only one night a year.

And it's not likely that anything will improve in the short run around here.

[Tansy_Gold]

32. There's much about V for Vendetta that ties it to Halloween

Go for it.

[AnneD]

33. I don't know about......

V for Vendetta but I am always game to learn new things.

[Tansy_Gold]

34. I dislike violence in movies so I had to be warned

when bloody parts were coming up. It's not for the squeamish, I don't think.

It's set in a near-future dystopic England, a combination of The Handmaid's Tale, 1984, and Left Behind, with a touch of Atlas Shrugged and Phantom of the Opera for good measure. Worth seeing at least once.



TG

[Demeter]

38. I'll save it for next week--that's Guy Fawkes Day Anyway, Isn't It?

November 5th, close enough!

[Tansy_Gold]

53. Excellent!

I have the Northcote Parkinson book around here somewhere, Gunpowder Treason and Plot. Maybe I'll find the time to read it before then.


TG

[tclambert]

63. Like why was Elrond wearing a mask?

And why did Luke Skywalker's mother shave her head? And why does England have a holiday to celebrate a terrorist?

[catzies]

75. New keyboard amd monitor please as mine are now coffee-drenched.

TYVM

[wordpix]

67. +1 about more women in gov - disagree with your Hillary statement totally

"man to hitch her star to"---you've gotta be kidding. Hillary and Bill have been a team for a long time. He hitched his star to hers, if anything.

[Demeter]

3. FBI Lets Barred Tycoon Visit U.S.

http://online.wsj.com/article/SB125685578903317087.html?mod=igoogle_wsj_gadgv1&

One of Russia's most powerful tycoons -- barred entry to the U.S. for years due to U.S. government concerns about possible ties to organized crime -- visited the country twice this year under secret arrangements made by the Federal Bureau of Investigation.

Aluminum magnate Oleg Deripaska met with FBI agents in August and earlier this month as part of a continuing criminal probe, according to two administration officials. The focus of that probe couldn't be learned.

Mr. Deripaska used the opportunity of his recent U.S. visits to meet with top executives of U.S. investment banks Morgan Stanley and Goldman Sachs Group Inc. The aluminum giant he controls, UC Rusal, is preparing for an initial public offering, a vital part of Mr. Deripaska's efforts to save his debt-burdened business.

Mr. Deripaska, left, in Detroit on a recent trip to the U.S. arranged with FBI help. Beside him is GM's chief executive, Fritz Henderson, German Gref of Russia's Sberbank and Siegfried Wolf of Magna, a Canadian auto supplier.


The U.S. trips came at an opportune moment to help reassure bankers his visa difficulties may be easing. Mr. Deripaska's visa troubles are a potentially sensitive issue for investors, bankers say.

Mr. Deripaska also stopped in Detroit to meet with top executives at General Motors Co. to discuss the sale of a stake in its Adam Opel AG unit to a Russian-backed consortium that includes Mr. Deripaska's AO GAZ auto maker, people familiar with the visit said.

The State Department, which rules on requests for U.S. visas, hasn't publicly said why it previously denied entry to Mr. Deripaska, and declined to comment on the recent visits.

Mr. Deripaska controls a Russian business empire that stretches from metals to finance to construction and which, by itself, accounts for just under 2% of Russia's gross domestic product. He enjoys good relations with the Kremlin, which provided a $4.5 billion bailout loan -- the biggest granted to any Russian company -- through a state bank to Rusal a year ago as the financial crisis hit Russia hard.

He is a regular member of the delegation on Prime Minister Vladimir Putin's international trips, and the Kremlin lobbied hard in support of the GAZ-backed bid for Opel.

Deripaska's Empire

Companies he controls account for nearly 2% of Russia's GDP. Some of his main holdings (stakes in each vary):

* Rusal (world's largest aluminum producer)
* GAZ (cars and trucks)
* VPK (armored military vehicles)
* Aviakor (aircraft)
* Ingosstrakh (insurance)
* Continental Management (pulp and paper)
* Glavstroi (construction)

Source: WSJ research


* Deripaska Accused U.S. of Blackmail

In the past, Russian officials including Mr. Putin repeatedly have raised the visa issue with their U.S. counterparts. Mr. Deripaska also hired top Washington lobbyists in 2003 and 2005, including former Republican Sen. Bob Dole, to plead his case.

Mr. Deripaska's recent visits were arranged outside of regular State Department visa procedures because the U.S. continues to have concerns about Mr. Deripaska's business associations, according to administration officials. Instead, FBI officials arranged for a limited-entry permit from the U.S. Department of Homeland Security, as allowed in special cases related to sensitive matters, officials said.

Another person familiar with the case said there was some opposition from other U.S. agencies to Mr. Deripaska's visits, but that the FBI prevailed. The FBI had previously been at loggerheads with the State Department over Mr. Deripaska; FBI officials have said they were getting interesting information from him, this person said.

Spokesmen for the FBI, DHS and the U.S. Embassy in Moscow declined to comment.

Mr. Deripaska has repeatedly denied any links to organized crime and blamed the U.S. visa ban on a smear campaign by business rivals.

In an interview with the BBC in July, Mr. Deripaska accused American authorities of trying to blackmail him by revoking his visa, which he said undermined investor confidence after the actions became public. "They tried to push me in a corner, maybe believing that at this point I will cooperate with them," he said.

He denied providing sensitive information to the FBI. There are "Russian interests that I would never" betray, he said. A spokesman for Mr. Deripaska described as "inaccurate" the assertions that the billionaire entered the U.S. on special permits arranged by the FBI and that he provided information to FBI investigators during the trips.

"Mr. Deripaska did visit the U.S. twice this year for business meetings," the spokesman said. "Mr. Deripaska has no travel restrictions to any country including the U.S."

A State Department official said Mr. Deripaska doesn't hold a valid U.S. visa.

FBI investigators, as well as authorities in Britain and Spain, have probed Mr. Deripaska's business interests in the past amid allegations of money-laundering from investigators and prosecutors. He has never been charged with a crime in those probes. Mr. Deripaska has met with FBI investigators before. It isn't known what was discussed.

After granting a visa in 2005 to allow Mr. Deripaska to come to the U.S. to talk to investigators, the State Department revoked it a year later when officials raised questions about the truthfulness of his statements during the course of those talks, according to people familiar with the situation.

During the early October trip he met top investment-banking executives including Goldman Chief Executive Lloyd Blankfein, according to people familiar with the meetings.

Neither of this year's trips was announced publicly. A Russian newspaper owned by a former Deripaska lieutenant last month published photos of him with GM executives in Detroit. In a telephone interview, the paper's owner said he took the photos on the August trip.

Questions about Mr. Deripaska's business dealings trace to the 1990s, when he emerged as one of the dominant players in the highly profitable aluminum industry. A rival tycoon, Mikhail Cherney, is suing in London for what he says is a 13% stake in Rusal that Mr. Deripaska owes him. Mr. Deripaska's lawyers have sought to have the suit thrown out. The court of appeals in July rejected their latest attempt.

In court documents, Mr. Deripaska testified that he paid Mr. Cherney $250 million as a payoff for "protection" provided by Mr. Cherney and others. He denies Mr. Cherney is owed any stake in Rusal. Mr. Cherney, who now resides in Israel, rejects Mr. Deripaska's account. He also has produced testimony from other former associates that says Mr. Deripaska maintained friendly ties with several alleged mafia figures long after he had claimed to have severed those ties.

Mr. Deripaska denies the allegations.

IF THIS DOESN'T STINK WORSE THAN TEN-DAY-OLD FISH! I GUESS IT'S NOW CLEAR WHO RUNS THIS COUNTRY, AND IT ISN'T OBAMA OR THE PEOPLE.

SO, THE CARROT FOR HIS CO-OPERATION WITH FBI INVESTIGATION IS HE GETS TO HOBNOB WITH GOLDMAN, GM AND MORGAN STANLEY? AND REFURBISH HIS "REPUTATION" WITH INVESTORS? WHAT KIND OF CRAP IS THAT?

[ozymandius]

7. This articulates why so many Economics majors switch to other fields.

The secret handshakes shared between mega-business and governments show just how incestuous global economic relationships are. Morgan Stanley and Goldman Sachs meet with a "person of interest" pertaining to a number of felony cases. Rhetorically: I wonder what factors swayed State to side against Treasury in allowing Mr. Deripaska into the country.

[Demeter]

15. Friend of Billary?

Next they will tell us the entire global economic collapse was designed to bring Switzerland to its knees so that in exchange for bailing out UBS, the US could get its tax cheats. And that will make it all worth while and a-okay.

I never would have been called a cynic before BushWorld took over...

[Zenlitened]

43. Hope he was wearing a wire for those GS meetings.

[Demeter]

51. That Would Redeem Them, Wouldn't It?

Unlikely, of course.

[ozymandius]

4. Today's Reports

08:30 Personal Income Sep
Briefing.com -0.2%
Consensus 0.0%
Prior 0.2%

08:30 Personal Spending Sep
Briefing.com -0.7%
Consensus -0.5%
Prior 1.3%

08:30 PCE Prices Sep
Briefing.com -0.5%
Consensus -0.5%
Prior -0.5%

08:30 Core PCE Prices Sep
Briefing.com 0.1%
Consensus 0.2%
Prior 0.1%

09:45 Chicago PMI Oct
Briefing.com 51.0
Consensus 49.0
Prior 46.1

09:55 Mich Sentiment-Rev Oct
Briefing.com 70.3
Consensus 70.0
Prior 69.4

10:00 Employment Cost Index Q3
Briefing.com 0.2%
Consensus 0.4%
Prior 0.4%

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

[UpInArms]

28. Sept. wages, salary income falls 0.2% - consumer spending falls 0.6%

U.S. Sept. consumer prices up 0.1%
8:30 a.m. Today

U.S. Sept. wages, salary income falls 0.2%
8:30 a.m. Today

U.S. Sept. savings rate rises to 3.3% vs. 2.8%
8:30 a.m. Today

U.S. Sept . real disposable incomes fall 0.1%
8:30 a.m. Today

U.S. Sept. real consumer spending falls 0.6%
8:30 a.m. Today

U.S. Sept. personal incomes flat
8:30 a.m. Today

Q3 employment costs up 1.5% yr-on-yr, lowest ever
8:30 a.m. Today

U.S. Q3 employment cost index up 0.4% as expected
8:30 a.m. Today

[Roland99]

46. U.S. Economy: Consumer Spending, Confidence Fall on Job Worries

U.S. Economy: Consumer Spending, Confidence Fall on Job Worries
http://www.bloomberg.com/apps/news?pid=20601087&sid=a2g02NI0x4wA

Americans cut spending for the first time in five months and a gauge of confidence weakened, signaling consumers will make a limited contribution to the recovery without government incentives.

Consumer spending fell 0.5 percent in September after a 1.4 percent jump in August, Commerce Department figures showed today in Washington. The Reuters/University of Michigan final index of consumer sentiment decreased to 70.6 in October from 73.5 the month before.

Mounting jobs losses, stagnant incomes and the expiration of programs such as the cash-for-clunkers auto rebates threaten to hold back household spending as the nation emerges from a recession. An unexpected improvement in an index of business activity reported separately today supports forecasts that manufacturing may help fill the void and propel the expansion that started last quarter.

...

The Institute for Supply Management-Chicago Inc. said its business barometer increased to 54.2, the highest level in 13 months. The gauge was forecast to rise to 49, the median estimate of 58 economists in a Bloomberg News survey. Readings above 50 signal an expansion.

[Demeter]

6. Morning, Ozy. The Rain Woke Me Up

and then I read my email....I'm going to be rather cranky today, but hopefully it will not bleed over to here.

What a week! We survived the 80th anniversary of Black Tuesday without a repeat...but I expect it will happen before April. Love, a cold, and market instability cannot be concealed for very long.

[ozymandius]

8. G'morning, Demeter.

:donut: :donut: :donut:

I have just finished reading "The Crash" by Galbraith. Honestly - with the parallels between then and now - I am extremely surprised that we have not had a repeat of those events. Because: The triggers for the collapse eighty years ago are almost identical to what we see today. Of particular concern is debt ratios shared both by businesses and individuals.

[Demeter]

18. Maybe a Valentie's Day Massacre?

Don't think it can happen before then--unless Bush was in charge...

Obama is proving to be a real slow learner. But his caution not to jump when GS says so is encouraging. Unfortunately, he doesn't jump when Roubini, Krugman, or any other realist explains the need, either.

Wondering what it would take to provoke a response....

[AnneD]

35. I'd add...

pregnancy to the list of things that can't be hidden for long-but that is just the Nurse in me.

Anne-whose daughter hid her existence from me for almost 6 months. But that's another story.

Sorry for the distant placement.

[Demeter]

39. thanks for the Chuckle!

I had a whole 10 days before morning sickness started....

[AnneD]

47. She slept through the first 5

month of development and used the umbilical cord as a jump rope for the last half. She was breech until the last minute.

[ozymandius]

9. Oil hovers near $80 as US economy recovers (Bwahahahaha!)

What a headline!

SINGAPORE – Oil prices hovered near $80 a barrel Friday in Asia after the U.S. economy snapped four straight quarters of contraction, suggesting demand for crude will improve.

.....
The Commerce Department said the U.S. economy grew at a 3.5 percent annual pace in the third quarter, the best showing in two years and breaking four straight quarters of declines.

.....
In other Nymex trading, heating oil was steady at $2.05 a gallon. Gasoline for November delivery held at $2.02 a gallon. Natural gas for December delivery jumped 2.6 cents to settle at $5.09 per 1,000 cubic feet.

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

[Demeter]

10. So, the DOW Is Inflated so Goldman Can Gouge with Oil Speculations?

Because people have to buy energy, they don't have to buy stock, especially since their assets and savings in the market have already been wiped out....

[Po_d Mainiac]

23. For 20 yrs the GDP growth tail has been wagged

by the debt dog. I have little doubt this has changed. C4C was a driving force behind the "so-called" growth numbers. Those vehicles were not bought with cash, they were financed. :tinfoilhat:

[Demeter]

70. Well, Gas Is UP For the Weekend---$2.79 or more

so much so that the Speedway is offering 3 cents off each gallon for loyal members all November. It's a short month, after all.

[ozymandius]

11. Geithner welcomes saving and doesn't fear real estate collapse

Despite the nation's worries about a sharp slow-down in consumer spending, U.S. Treasury Secretary Timothy Geithner almost seems to welcome the new frugal behavior practiced by many Americans.
.....

Instead of trying to prod consumers to go back to borrowing and buying, Geithner noted that increased saving will be part of the changed behavior in this country for years. He said the financial crisis taught an entire generation about the risks of excessive borrowing, and he thinks Americans will consequently "look ahead and plan for an uncertain future."
.....

Although some worry that the nation will face a new crisis as commercial real estate owners lose tenants in a slow economy and fail to pay banks back on loans, Geithner said "I don't think so," when asked if real estate would threaten the economy.

But he added that the country still must overcome a credit crunch and that there is a need for securitization to return so that adequate lending can provide growth. Securitization used to make it possible to lend trillions of dollars in money because banks could make loans and sell them to Wall Street -- alleviating pressure on the banks to hold onto loans. With that avenue of financing closed down, the credit crunch has continued.

http://newsblogs.chicagotribune.com/marksjarvis_on_money/2009/10/geithner-welcomes-saving-and-doesnt-fear-real-estate-collapse.html

---

Not much to this article. It's fairly fluffy.

[Demeter]

16. Geithner's a very bad liar.

And the fact that he doesn't think is no surprise. That much has been obvious since Indonesia.

It's the securitization, Geithner! A more specific update on It's the Economy, Stupid!

[Tansy_Gold]

22. Fraud

My work occasionally involves listening to recorded interviews with suspected insurance fraudsters. The kind of people who take out insurance in March and in April have a "break-in" that results in the theft of thousands and thousands and THOUSANDS of dollars of personal property way beyond what their stated income could ever justify their buying. In the course of the investigation, these people insist the 60-inch flat screen tv was a gift from their mother and they have no receipt. The two smaller flat screens in the bedrooms were likewise gifts, without receipts, and usually they can't even remember who gave the gift. (Me, I'd remember who gave me a TV!!) The half dozen Coach handbags were all purchased on sale at the outlet mall and they have no receipt. The Wii and the PlayStation and the four laptop computers were all purchased for cash -- even a debit card leaves a paper trail -- and there is no receipt. They have no photos of their possessions, even though the list of items stolen includes two digital cameras and a video recorder.

Over the past year and a half I've probably heard a hundred of these stories, all variations on a theme. They've got more "I don't recalls" than Alberto Gonzales.

Tim Geithner isn't even as good at lying as someone trying to scam Allstate on a bogus theft.


Wanker.





Tansy Gold

[Roland99]

29. I blasted him in a dream last night! Check this craziness out!

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4125187&mesg_id=4125592


lol

[AnneD]

36. Guess he finally had an offer on his house...

I still have nightmares about that blue tile bathroom.

[ozymandius]

12. Yen Strengthens Against Dollar as Exporters Repatriate Earnings

This is a story about the carry trade, though it mentions the outlined practice by name only once and late in the article. - ozy

Oct. 30 (Bloomberg) -- The yen rose against the dollar, set for its first weekly gain in three, on speculation Japanese exporters purchased the currency after its decline increased the appeal of repatriating the proceeds of foreign sales.

Demand for the yen also increased after the Bank of Japan said it will stop buying corporate debt at the end of the year, as central banks around the world phase out emergency measures begun during the financial crisis. The dollar headed for a fourth month of losses against the euro, the longest stretch of declines since 2004, as the U.S.’s return to growth in the third quarter boosted demand for higher-yielding assets.

“A lot of exporters were reluctant to come in and buy yen at below 90 per dollar and they’ve now come back to the market,” said Lee Hardman, a foreign-exchange strategist in London at Bank of Tokyo-Mitsubishi UFJ Ltd. “There’s been a degree of buying after the BOJ’s decision to end some of its support measures.”

.....
Investors remained skeptical that the Federal Reserve will increase borrowing costs early next year. Fed funds futures show a 34 percent chance that the central bank will lift its target lending rate at the March meeting from a range of zero to 0.25 percent, compared with a 47 percent likelihood a month earlier.

http://www.bloomberg.com/apps/news?pid=20601087&sid=a0h6JdiOXLKY

[ozymandius]

13. Labor Gains Obama Policies Cooper Tire-to-Walmart Companies Rue

Oct. 29 (Bloomberg) -- Cooper Tire & Rubber Co. is paying tariffs on imported tires. Free-trade agreements sought by Caterpillar Inc. and Wal-Mart Stores Inc. are on hold. Delta Air Lines Inc. flight attendants may join a union.

There’s a common thread running through these developments. Organized labor is gaining momentum under the Democratic administration of President Barack Obama.

.....
Their status is a change for labor officials, who say the Republican administration of George W. Bush was hostile to their agenda. “Welcome back to the White House!” Vice President Joe Biden said to union leaders who met with the president at the White House 10 days after his inauguration.

John Sweeney, 75, who headed the AFL-CIO for 14 years before stepping aside last month, says he was invited to the White House once during Bush’s eight years in office. That was at the request of visiting Pope Benedict XVI, he says. The AFL- CIO is the nation’s largest union group.

.....
Obama sided with the United Steelworkers last month against tire makers such as Cooper Tire and imposed 35 percent tariffs on tires imported from China. Bush rejected putting tariffs on Chinese products all four times the issue came before him.

http://www.bloomberg.com/apps/news?pid=20601109&sid=aZ0E8Blqc82Y

[ozymandius]

14. Bank-Favoring Censorship by Congress

Naked Capitalism:

Harper’s Magazine has written up the lengths to which the authorities will go in censoring views that dissent with what is the unstated official policy: that no demand of the banking industry is too unreasonable not to be catered to.

The object lesson is the gutting of the falsely-branded derivatives reform bill. It arrived with a loophole so large you could drive a truck through it, namely that customized derivatives were not covered. So this bill will do nothing to impede the growth of complex opaque products; in fact, it encourages it, since banks will have no oversight if they tweak a product so that is can be deemed “customized.” It was further weakened by excluding most of the banks in America and by excluding a whole swathe of end users. The final insult was making the derivatives clearing house self-regulating.

The hearings on the bill had testimony scheduled only from what amounted to industry flacks. Someone apparently realized at the 11th hour that that might not go over with the correctly angry public too well. So less than 24 hours prior to the session before the House Financial Services Committee, an invitation was issued to Rob Johnson, a former managing director at Bankers Trust Company and former economist at the Senate Banking Committee and Senate Budget Committee.

So what transpired? As Ken Silverstein recounts:

Johnson, who came last, offered the only serious critical viewpoint… After about five minutes of his testimony, Congresswoman Melissa Bean—another industry-funded committee member who chaired the hearing because Frank was absent—had heard enough. “I’m just going to ask you to wrap up because we’re running out of time,” she told Johnson.

Johnson gamely continued. “When I hear the testimony today that are largely financial institutions and end users, I believe that I represent a third group that comes to the table, which is the taxpayers, the working people of the United States,” he said.

“I do need a final comment,” Bean interjected seconds later.

That put an end to Johnson’s testimony. “I was just called to this hearing last night, so I will provide detailed comments on your bill and a statement for the record that will finish my comments,” he concluded.

So what happens next? The House Financial Services Committee has refused to publish his testimony, offering “the dog ate my homework” level excuses, first that they hadn’t gotten it, then that it was in the wrong format, then that their IT department was experiencing difficulties (always a good one when real reasons are running thin). The last one was pure Catch-22: that he had gotten his written testimony in too late.

---

more at link...

[Demeter]

19. I've Got the Same Problem With a Certain Condo Board President

hence the grumpiness. Some people think they were elected God. Others are sure of it. The rest just abuse power until it is taken away from them.

[boomerbust]

37. Condo Board President

Man or Woman? Just curious.

[Demeter]

40. Woman

The predatory office bitch kind

[wordpix]

68. it's clear the banks & insurance cos. are pulling Congress' strings

We need some major campaign finance overhaul!!! :grr:

[ozymandius]

17. Have a great Friday, all.

Time to go to work.

:hi:

[Demeter]

20. Bye Ozy and thanks!

[question everything]

44. What is going on? Down 250?? (nt)

[DemReadingDU]

49. It's the Halloween Indicator

10/14/09 ANNANDALE, Va. (MarketWatch) -- The Halloween Indicator by Mark Hulbert
You should be completely out of stocks right now, sitting comfortably with 100% cash in your portfolio.
That at least is the current posture of the stock market timing system that arguably has the strongest statistical foundation of any that is in widespread use today.
I'm referring to the so-called Halloween Indicator, which says that we should be invested in the stock market for just six months each year, from Halloween until May Day. During the other six months we are to be in cash -- which is why this Indicator also goes by the name "Sell in May and Go Away."
The statistical pattern on which this indicator is based has been found to exist in the U.S. stock market back to the 1800s, in the United Kingdom stock market back to 1694, and in 35 of 36 foreign countries

rest of MarketWatch article...
http://www.marketwatch.com/story/should-followers-of-halloween-indicator-buy-now-2009-10-14?siteid=yahoomy

[question everything]

54. Groan! Cash pays 0% interest (nt)

[DemReadingDU]

62. But you don't lose your principal

Having cash in the 'bank of sealy', or home-safe, can be more safe than the stock market for keeping the principal amount.

[Demeter]

52. See! THey DIDN"T Forget Our anniversary!

Just a day late, is all!

[DemReadingDU]

25. Bloomberg talks with Joe Saluzzi

Saluzzi tells it like it really is, he's good.


10/28/09 Joe Saluzzi On The Economy, Transaction Taxes, Fund Flows And Other Topics
Joseph Saluzzi, co-head of equity trading at Themis Trading LLC, talks with Bloomberg's Carol Massar and Matt Miller about U.S. consumer confidence and the outlook for stocks. Saluzzi says yesterday's consumer confidence report was a "disaster."

discusses addiction to stimulus, the bull trap, speculators driving the market, the market is a casino

http://www.zerohedge.com/article/joe-saluzzi-economy-transaction-taxes-fund-flows-and-other-topics

direct link to video
http://www.youtube.com/watch?v=tVx8xBNBiAo

[UpInArms]

30. dollar watch

http://quotes.ino.com/chart/?acs=NYBOT_DX&v=i

Last trade 76.026 Change +0.109 (+0.14%)

Has the Strong US GDP Reading Banished Doubts and Revived Risk Appetite and Carry Flows?

http://www.dailyfx.com/forex/fundamental/article/carry_trade_basket/2009-10-30-0213-Has_the_Strong_US_GDP.html

The market has finally been forced into its long overdue correction. However, is this a modest pullback or the early development of a larger trend reversal? It is still early too early to tell from both a fundamental and technical perspective; but elemental forces may be shifting in the background. Through the first half of this week, it seemed the confidence has finally collapsed under its own weight as risk-attuned securities from equities and bonds to the dollar and credit default swaps put in for sharp reversals. In fact, the broad pullback in sentiment was most aggressive that we have seen in nearly four months; and the fear that developed along with the profit taking could have gathered momentum had it not been for a well-placed US 3Q GDP release. Ultimately a strong reading from this heavy-hitting economic release has put in a temporary floor underneath the shaky markets; but is this a reversal that can develop the necessary follow through to push the various speculative markets to new to new highs for the year? Time and momentum along with another dense round of fundamental indicators and policy decisions next week will answer this question. In the meantime, we can tell from the market’s current standings that there is enough interest to feed a deeper unwinding should Thursday’s sharp rebound loose momentum. Among the more frequented asset classes, the Dow tumbled over 3.5 percent from its 14-month highs set just last week and gold fell as much as 4 percent from its record highs. For currency traders, the safe-haven dollar rallied for five consecutive sessions to a two week (on a trade-weighted basis) and the carry index suffered its sharpest plunge this week since the beginning of July.

This week’s price action is an interesting story. It would seem that a potential reversal in market sentiment was rebuffed by a key economic indicator that would single-handedly revive risk appetite. However, the response to the US growth report perhaps masks an underlying shift in sentiment with short-term volatility. Through the first half of the week when high-yield and otherwise risky assets were depreciating, there was no primary catalyst. It was simply a natural deflation in the outlook for yield. The GDP number certainly contributes to confidence as the world’s largest economy (and thereby the proxy for the global economy) reported a solid return to positive growth; but it does not really change the fact that speculative markets are living well beyond their fundamental means. For the indicator’s part, the recovery was largely in line with expectations. What’s more, much of the strength can be attributed to government stimulus and programs. The medium-term outlook still maintains a tepid pace of growth. Expansion is ultimately a means to a more important end for investors: namely more capital floating around the market and greater levels or return. Yet, the slow recovery expected through 2010 will not fulfill these aims by brute force alone. Policy officials will have to play a part in bolstering rates if the eight-month bull trend is to continue. Next week, we have the FOMC, ECB, BoE and RBA rate decisions. The RBA is the only group actually hiking; and the rest are being closely monitored for subtle signs that they are reining in their extraordinary policy efforts and taking steps towards their respective exit strategies. Regardless of what comes of this upcoming round of event risk; the further speculation diverges from risk appetite, the more inevitable a significant correction becomes.

...more...

Currencies to See Added Volatility on Month End Flows

http://www.dailyfx.com/forex/technical/article/morning_slices/2009-10-30-1015-Currencies_to_See_Added_Volatility.html

Trade has picked up into the European session with the market mostly content on allowing the USD to consolidate from the sharp setbacks seen on Thursday. Friday’s session should have some added volatility built in with month end related flows. We have already heard of some profit taking in commodities from various buy-side shops. European equities have not responded favorably to the explosive day in US equities on Thursday and this could be weighing somewhat on sentiment thus far. Also seen weighing on sentiment in Friday trade has been the weaker than expected German retail sales and UK nationwide house prices. Eurozone CPI and unemployment data failed to factor into price action after coming in bang on consensus estimates. In Switzerland, the Swiss KOF came in stronger than forecast.

...more...

[MattSh]

31. Report slams bank links to clusterbomb production (Your bailout $$ at work).

Posted this elsewhere, but it is bank related too...

LONDON (Reuters) – Leading banks have funded arms manufacturers, whose products include cluster bombs, to the tune of $5 billion in the past two years, despite an international accord to ban such weapons, a study said Thursday.

The report by Profundo consultancy and several NGOs said the banks loaned money to companies whose products include cluster bombs or their components.

It did not say the funds went directly to make cluster bombs. The manufacturers could use the money for any of their production lines.

The top five loan providers were Bank of America, Citigroup , JP Morgan, Barclays and Goldman Sachs, the study said.

The researchers used publicly available information, such as that supplied by stock exchanges and financial databases, to produce their study.

According to the research, the banks have provided financing for diversified manufacturer Textron, aerospace and defense group Alliant Techsystems and defense contractor Lockheed Martin , all based in the United States.

Barclays said in a statement it provided financial services to arms makers within a specific policy framework, taking into account the likely use of the equipment.

"Our policy ... explicitly prohibits financing trade in landmines, cluster bombs or any equipment designed to be used as an instrument of torture," Barclays said.

Asked to clarify, a Barclays' spokeswoman declined further comment.

Bank of America and JP Morgan declined to comment while Citigroup and Goldman Sachs also had no immediate reaction.

Cluster bombs, which open in mid-air and scatter a multitude of bomblets over a wide area, have killed and maimed tens of thousands of civilians, campaigners say.

Nations agreed to outlaw cluster bombs in May 2008. The resulting convention will come into force when 30 countries have ratified it -- 23 have already done so.

Neither the United States nor Britain, where the top five loan providers are based, have yet ratified the treaty.

The Convention on Cluster Munitions includes a ban on assisting anyone to make the bombs.

"We feel very strongly that assistance in production means investment. If you invest in a company, you're considered to assist the production of these (bombs)," Roos Boer, one of the report's authors, said at the launch of the study.

The report said: "Financial institutions should develop policies that exclude all financial links with companies involved in producing cluster munitions."

It added: "Policies should not be narrowed to refusing project financing for cluster munitions."

The report also called on governments to draw up clear legislation to prohibit investment in cluster bombs and to provide guidelines for financial institutions.

(Editing by Angus MacSwan)

http://news.yahoo.com/s/nm/20091029/wl_nm/us_clusterbombs_banks_3

AND, since when did a sentence become a paragraph?

[Demeter]

41. Sorry, I'm in My Bomb Shelter Bunker Right Now

Leave a message and I'll get back to you in, say, 2245?

[AnneD]

48. Say hello to.....

Mugabo for me.

[snot]

73. Sentence/paragraph thang--i've been wondering, commented elsewhere 'bout that.

[DoBotherMe]

42. K&R n/t

[Roland99]

45. VIX jumps 19% as stocks drop sharply

VIX jumps 19% as stocks drop sharply
8 min ago1:32 p.m. Oct. 30, 2009

- Laura Mandaro

[ozone_man]

50. Trick or Treat!

Should have offered me the treat.

Oh well, in memory of October events 80 years ago, it is apropos.

[Dr.Phool]

55. Puppy update.

The lab-terrier I was fostering is adopted by a happy couple.

[TalkingDog]

66. Yay! We've fostered almost a dozen critters over the past 10 years

And it's always satisfying when you find a home where they will be loved.

As my Mother-in-Law opaquely says: You'll earn your reward in Heaven.

[TalkingDog]

56. I know this happened early this morning, but could a market-y person explain this?

9:54 AM: "NYSE and NYSE Amex cash equities markets experienced an inordinate influx of orders that caused delays in quote dissemination and several locked quote conditions. The issue has now been resolved."

11:50 AM: "NYSE and Amex cash equities markets are preparing to transfer all quote dissemination processing to a backup system. For approximately three minutes beginning at 11:50:15 am ET, there will be momentary interruptions in quote dissemination processing in all alphabetic symbol ranges. We will provide an update as the process has been completed.


A customer conference bridge is currently available for retire time updates: 888-669-2803."


Fall down, Go boom?

[Roland99]

58. Last trading day of week and month triggering some spooks and frights?

[Demeter]

71. Is it triple witching time?

[TalkingDog]

57. Government to shut down Intertubes during Flu Pandemic to protect Markets.

http://www.gao.gov/new.items/d108.pdf
October 2009
INFLUENZA PANDEMIC

Key Securities Market Participants Are Making Progress, but Agencies Could Do More to Address Potential Internet Congestion and Encourage Readiness
Highlights of GAO-10-8, a report to congressional requesters.

Increased demand during a severe pandemic could exceed the capacities of Internet providers’ access networks for residential users and interfere with teleworkers in the securities market and other sectors, according to a DHS study and providers (see figure below). Private Internet providers have limited ability to prioritize traffic or take other actions that could assist critical teleworkers. Some actions, such as reducing customers’ transmission speeds or blocking popular Web sites, could negatively impact e-commerce and require government authorization. However, DHS has not developed a strategy to address potential Internet congestion or worked with federal partners to ensure that sufficient authorities to act exist. It also has not assessed the feasibility of conducting a campaign to obtain public cooperation to reduce nonessential Internet use to relieve congestion. DHS also has not begun coordinating with other federal and private sector entities to assess other actions that could be taken or determine what authorities may be needed to act.


/snip
I hope you guys don't mind but I'm cross posting this to GD

[Demeter]

72. They'd Better Not Even THINK about it!

Keep your corporate hands off my Internets!

[snot]

74. Made me LoL, for what that's worth.

[tclambert]

59. So what happened with the stock market while I was watching the solar car race?

Down a lot, up a lot, down a lot. Geez, can't I count on you people? Look, let's go over this again. The stock market is supposed to go up a little bit every year. 11% 11% 11%. Just like clockwork. These wild fluctuations make me want to eat too much comfort food.

Oh, I see there was some good news yesterday. The economy grew 3.5% in the third quarter. Better than the alternative. A TV newsman said more companies are looking to hire workers now than to lay them off. I guess next week when the new unemployment figures come out, we'll see if that was hot air or not.

[TalkingDog]

60. So what you are saying is .09% per month is what you are looking for.

lessee, divide by 18 (holidays and weekends you know) that would be about .005 per trading day. And at 7 hours (give/take) per day, we're looking at .000714285714% per hour.

I'm sure if you just let everybody know, they would see the sense in doing it that way....

[tclambert]

64. There ya go, nice and neat.

I'm sure when the intelligent computers take over, they'll arrange it that way.

[tclambert]

61. By the way, Michigan came in 3rd

for the fourth time. They've never made 1st or 2nd in the World Solar Challenge. MIT came in 5th. Principia came in 7th. Stanford was way back in the pack. A Japanese team from Tokai university, one of the premier science and engineering universities in Japan, won, beating the defending champs, Team Nuon from the Technical University of Delft in the Netherlands. Europe and Japan take this competition more seriously than America does. Those top two teams got the very best solar cells available, 30% - 34% efficiency. Michigan makes do with NASA reject cells, 22% - 28% efficiency, the ones not quite good enough for satellites. Still, Michigan spends about $100,000 on their 6 square meter solar array. They have almost as many corporate sponsor stickers on their car as NASCAR, just not on the top surface where the solar cells are.

Michigan used batteries from A123Systems this time, too. They said they are Lithium Iron Phosphate batteries, LiFePO for short. Life-Po. I like that.

[TalkingDog]

65. LiFePo: Those are the new super fast charge,

efficient, hold it forever ones? I heard a guy talking about those a couple of years ago.....