STOCK MARKET WATCH, Tuesday, May 10, 2011

[Pale Blue Dot]

Source: du

STOCK MARKET WATCH, Tuesday, May 10, 2011

AT THE CLOSING BELL ON May 9, 2011

Dow 12,684.68 +45.94 (+0.36%)
Nasdaq 2,843.25 +15.69 (+0.55%)
S&P 500 1,346.29 +6.09 (+0.45%)
10-Yr Bond... 3.17 +0.02 (+0.51%)
30-Year Bond 4.32 +0.01 (+0.16%)

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Market Conditions During Trading Hours

Euro, Yen, Loonie, Silver and Gold

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

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

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

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

Read more: du

[Pale Blue Dot]

1. Today's Reports

May 10 08:30 Export Prices ex-ag. Apr NA NA 1.3%
May 10 08:30 Import Prices ex-oil Apr NA NA 0.6%
May 10 10:00 Wholesale Inventories Mar 0.9% 1.0% 1.0%

Read more: http://www.briefing.com/Investor/Public/Calendars/EconomicCalendar.htm#ixzz1LwkKJyKR

[Name removed]

111. Deleted message

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

[Demeter]

127. That's the second piece of spam I've witnessed today

somebody's hard of listening.

[Pale Blue Dot]

132. I alerted. The thing should be gone now.

;-)

[Pale Blue Dot]

2. Oil falls to near $101 ahead of US supply reports

KUALA LUMPUR, Malaysia – Oil prices fell to near $101 a barrel Tuesday in Asia as traders anticipated a further rise in weekly U.S. crude inventories in a sign of weakening demand.

Benchmark crude for June delivery was down $1.41 to $101.14 a barrel at late afternoon Kuala Lumpur time in electronic trading on the New York Mercantile Exchange. The contract rose $5.37, or 5.5 percent, to settle at $102.55 on Monday.

In London, Brent crude for June delivery was down $1.04 to $114.86 a barrel on the ICE Futures exchange.

Oil rose Monday after a steep 15 percent fall last week but traders took profits Tuesday ahead of weekly U.S. energy data and after US exchange operator CME Group said it is raising the margin requirements for trade in a wide range of oil products.

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

[xchrom]

17. World stocks up as oil slips; euro volatile

http://www.reuters.com/article/2011/05/10/us-markets-global-idUSTRE71H0EB20110510

(Reuters) - World stocks advanced on Tuesday as strong Chinese trade data reinforced optimism about the global economy, while the euro was volatile on conflicting media reports of a potential new aid deal for debt-laden Greece.

The euro briefly gained against the dollar after Dow Jones News Wires reported that Greece expected to receive fresh aid totaling 60 billion euros ($85.71 billion) as soon as June, but Greece denied it was discussing a new aid package.

China posted its biggest trade surplus in four months in April as exports hit a record on stronger global demand, highlighting strength in the world's second largest economy despite its efforts to rein in inflation.

Oil prices fell on a firmer dollar and higher margins for oil futures but surprisingly high Chinese crude imports showed demand was resilient and limited further losses.

[JDPriestly]

88. The price of oil has risen about 25 times since 1974.

How much has the paycheck of the average American risen? To say nothing of the Social Security checks of the average retiree?

If we used less oil, we might be able to balance our budgets -- but at the personal and government levels.

[Demeter]

123. MPG doubled in the same amount of time

except for the Hummers and urban assault vehicles...if that helps any.

[JDPriestly]

135. I'm using oil as a benchmark for inflation.

We are using less oil, but we need to cut our oil consumption far more than we have.

[Roland99]

51. Crude futures fall after CME hikes margins

Crude futures fall after CME hikes margins
Rise in margin requirements hurts sentiment (awww...hurts bullish sentiment. waaaaahhh!!!)
http://www.marketwatch.com/story/crude-oil-futures-sag-after-rebound-2011-05-10?dist=beforebell

[xchrom]

71. BofA sees possible oil fall, alone among peers

http://www.arabianbusiness.com/bofa-sees-possible-oil-fall-alone-among-peers-398922.html

Bank of America Merrill Lynch said on Tuesday oil may correct sharply lower later this year if Libya starts producing again and the dollar soars, taking a polar view from peers which expect the oil rally to accelerate.

Goldman Sachs, which in April rightly predicted last week's major correction in oil, has said it could not rule out oil prices will correct further in the short-term but would then rebound above recent highs due to tight global supplies.

JP Morgan, also said oil could rise above $130 a barrel in the third quarter and Barclays Capital and Deutsche Bank said the general trend should now be only higher.

[Pale Blue Dot]

134. It's up to almost $104 today. nt

[Demeter]

3. First Rec!

My reason for living....having fulfilled that mission, I'm hard pressed to find another I care the least bit about to tackle next. It's the Futility.

Isn't there some kind of quote about continuing on in the face of universal discouragement, disapproval, and continual lack of reward?

[xchrom]

5. i think kafka made a living out of that.

or as an exterminator -- i forget which.

[Demeter]

8. Probably why I never read him

[AnneD]

12. His philosophy....

Always did bug me too. As the 4th rec, I hid my disappointment and try to make myself useful. I have a lot of reports to get out today, so if I post at all it will be drive by.

[TalkingDog]

91. Existentialism didn't embrace despair, it was a philosophy that sought to remedy it.

Most people think existentialism was about angst, fear, depression, futility... but the existentialists were merely pointing out that people felt those things and that it should be recognized and dealt with rather than denied.

The philosophy grew out of the World War era of Europe. Precursors (Kierkegaard and Nietzsche) came well before that, but they were inspired by a decline of the church in the 19th century. So, social norms and mores were in crisis all through the era. People had no firm moral or social grounding. The rules had all been up-ended. People were in despair.

So existentialists tried to examine why that was the case and how cultural and societal "depression" (or whatever one would call a depressed society) could be lifted by accepting some basic tenets:


“Man is nothing but what he makes of himself.”

There is no god (substitute parent) to rescue you or to make it all better. “God does not exist, we find no values or commands to turn to which legitimize our conduct. So, in the bright realm of values, we have no excuse behind us, no justification before us. We are alone, with no excuses.”

Sartre called the tendency to make excuses for bad behavior: mauvais fois or bad faith (e.g. “the devil made me do it;” “an upbringing in poverty turned me into a criminal;” “the dog ate my homework”). If someone else if always responsible for your life, if you don't accept responsibility for your choices, then how can you live an authentic life?


I see Existentialism as having a lot in common with Buddhism. Life is painful. It is painful because we place expectations (desire) on things/people/situations. If you can accept that all of these things are illusions (because the expectations only exist in your mind) then your life will be much more peaceful.

They don't align exactly, but at their core, they have a similar message.

[Hugin]

112. Very nice write-up, TD.

Thanks. :)

[Demeter]

113. I learned something

I might even want to learn more..

[tclambert]

11. Is that a giant cockroach joke?

Or is it a Tom DeLay joke?

But I repeat myself.

[AnneD]

13. Hey...

I take offense at that remark. :evilgrin:

[Demeter]

20. We all have relatives that "bug" us

Some of us more than one...

[tclambert]

28. Everyone can find pirates and horse thieves in their family trees, if they squint long enough.

I'm sure Tom finds it a burden to deal with the shame of having a cousin who as a nurse does the very un-Republican thing of caring for other people.

[Fuddnik]

73. You would.

:evilgrin: :hi:

[AnneD]

124. You know...

I thought about you as I crafted that response. Did not want to give you too much ammo.

[xchrom]

16. ...

:spray:

[Demeter]

18. Kafka sure did lead a futile life

After reading up on him in Wiki, I feel much better. I'm sure the Germans had a word for that....

[xchrom]

22. what don't the germans have a word for? nt

[Po_d Mainiac]

25. Vaistaspermum?

[xchrom]

32. that's not german? nt

[Po_d Mainiac]

34. NS! but it sound good.

[DemReadingDU]

27. Perseverance?

steady persistence in a course of action, a purpose, a state, etc., especially in spite of difficulties, obstacles, or discouragement.

http://dictionary.reference.com/browse/perseverance

[Warpy]

54. Yeah, it's called SPITE

and continuing to live out of sheer spite can work for years. I think this country has become so hostile to ordinary citizens that spite is all that's keeping most of us going.

[Demeter]

67. You are cutting too close to the truth

and hit a bone--or a nerve, I'm not sure which.

Spite, or stupidity, or a combination thereof. the Polack's motto: too stupid to die.

[Hugin]

72. Hear! Hear! Warpy, my friend.

THAT! Is also my reason for voting... Lately.

[Fuddnik]

77. I'll turn 59 on Saturday. And I continue just to spite the bastards.

But, at least I have these two nuts.







On Saturday evening, they're having Bark in the Park night at the Toronto Blue Jays minor league team stadium, about 10 minutes from the house. You can bring your dogs to the game that night.

When they start tossing the ball around the infield, I'm going to let Sara off the leash to go snatch the ball, and watch them try to get it from her. She loves nothing more than being chased, and she can run nose to nose with a greyhound.

[xchrom]

104. i'd love to see her get that ball. nt

[AnneD]

114. So what can we give you....

virtually of course-sky's the limit.

I am going to give you what you always give me-a difficult time. :evilgrin:

I worked in some Nursing homes. Those old folks were obsessed with their bowel movements. Are yours still working because I sometimes think you might be FOS and need a :hurts: Don't want you to go like Elvis. What would your hairy butt kids do???

We need to start a wish list for you.

[Demeter]

126. That's Easy! We Dedicate the Weekend to Fuddnik!

Brain churns furiously....

or alternatively, let Fuddnik suggest 3 topics and I'll pick the most doable.

[AnneD]

138. Call it a ....

Code Brown weekend.

[Fuddnik]

136. Can you catch a flying bedpan?

[AnneD]

139. I've dodged more....

Projectile bodily fluids than you can imagine. As I said earlier...I'll call a code brown on you!

[Demeter]

4. Sheila Bair To Leave FDIC In July, Ending 5-Year Term

http://www.npr.org/2011/05/09/136152231/sheila-bair-to-leave-fdic-in-july-ending-5-year-term?ft=1&f=1001

...Vice Chairman Martin Gruenberg is considered a likely candidate to succeed her. He will become the acting chairman if the Obama administration doesn't appoint a replacement before Bair leaves.

Bair was appointed by President George W. Bush in 2006. Within a year, she went after banks that issued some of the riskiest subprime mortgages.

In March 2007, Bair moved to shut down Santa Monica, Calif.-based Fremont Investment & Loan. The bank had been a major player in the troubled home-mortgage business, doling out high-interest loans to people with blemished credit records or low incomes.

By the end of her tenure, the agency closed the most banks since the savings and loan crisis....

[xchrom]

6. india: Why India chose to disappoint the US

http://www.atimes.com/atimes/South_Asia/ME11Df04.html

India's procurement of 126 multi-role combat aircraft has been one of the most eagerly anticipated defense deals in years, and not just because of its US$11 billion value.

The selection was always going to be interpreted as an expression of New Delhi's evolving strategic outlook, and to some in Washington, which has built an increasingly close alliance with India driven by a mutual wariness of China, a win for either Boeing or Lockheed Martin, the two US contractors competing for the contract, seemed assured.

But the Americans were wrong to think that friendship alone would unlock the door to India's defense dollars. At the end of April, the Indian government announced that neither US firm had even made


it onto the final short list, with Dassault of France and the European EADS consortium winning through at their expense.

Having made plain that the US was "deeply disappointed" by the outcome, the US ambassador to India promptly resigned, citing personal reasons that seemed barely to mask his frustration that American lobbying had failed in spite of President Barack Obama's personal appearance in New Delhi last November.

[Demeter]

119. Nobel-Winning President - FREE- with Every Purchase!

Shades of W!

Bah humbug.

[Demeter]

7. Obama in fresh push on immigration

Barack Obama will resume efforts to launch a debate on immigration reform, arguing that the US cannot afford to dodge the issue if it is to maintain its competitive edge

Read more >>
http://link.ft.com/r/XYEWFF/40G8N4/87I64/BM0G26/BMCOVR/7V/t?a1=2011&a2=5&a3=10

ANOTHER 3 CARD MONTE GAME

[Demeter]

9. BofA to halve $850bn portfolio of bad loans

Bank of America Merrill Lynch plans almost to halve its $850bn portfolio of troubled home loans over the next three years as it seeks to quicken the pace with which it resolves problems related to the housing crisis and its disastrous purchase of Countrywide Financial.

Terry Laughlin, who is spearheading BofA’s mortgage modification and foreclosure programmes, told the Financial Times he had been given leeway to act quickly to tackle the growing number of bad loans that threaten to overwhelm the bank’s overall performance and tarnish the reputation of Brian Moynihan, its chief executive.

Read more >>
http://link.ft.com/r/VKY5JJ/GK572N/204L2/ZB3STP/6VGUT6/1G/t?a1=2011&a2=5&a3=9

JUST LIKE THAT? WHAT DID THEY NEED ALL THAT BAILOUT MONEY FOR?

[tclambert]

14. Where are the bad loans going?

Why do I suddenly feel the need to tighten security on my wallet?

[Demeter]

23. Modifications and Foreclosures

probably more of the latter....they must think they have an end run around the MERS snafu..

This year BofA hived off its problem loans into a “legacy” unit that Mr Laughlin runs, leaving the “good” mortgages in a separate division headed by Barbara Desoer...BofA owns about $118bn of the problem loans outright. It services the rest, which means it collects payments from borrowers and initiates foreclosure proceedings...To better handle the high number of delinquencies, Mr Laughlin wants to streamline the modification process, under which borrowers are typically offered lower monthly payments for a period.

[Demeter]

10. S&P cuts Greek credit rating

Agency downgrades the country by two notches and warns Athens that any voluntary debt restructuring would amount to a default

Read more >>
http://link.ft.com/r/IOCBMM/40GG4B/A5Q0X/YHNSDT/8A6TJX/E4/t?a1=2011&a2=5&a3=10

[xchrom]

15. Stock futures rise on strong Chinese data

http://www.reuters.com/article/2011/05/10/us-markets-stocks-idUSTRE7481EV20110510

(Reuters) - U.S. stock index futures rose on Tuesday as strong Chinese trade data eased concerns of a slowdown in the world's second-largest economy and pointed to strong global demand.

China posted an $11.4 billion trade surplus in April, nearly four times greater than expected, after exports hit a record on healthy demand and imports rose less than expected.

Microsoft Corp (MSFT.O) will be in the spotlight after a source said the blue chip is close to buying Internet telephone network Skype in an $8.5 billion deal as it seeks to regain ground on rivals such as Google Inc (GOOG.O). Microsoft shares were little changed in early trading.

S&P 500 futures rose 5.8 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration of the contract. Dow Jones industrial average futures gained 49 points, and Nasdaq 100 futures added 13.25 points.

[xchrom]

19. Gold rises as dollar retreats, focus on Greece

http://www.reuters.com/article/2011/05/10/us-markets-precious-idUSTRE73786N20110510

(Reuters) - Gold was set for a third daily rise on Tuesday, after a retreat in the dollar helped reverse earlier losses, while concern about Greece's debt crisis was expected to insulate the price from any severe declines.

A sharp rise in margins on U.S. oil futures dented the broader commodities complex but with so much investor focus on Greece and other indebted euro zone member states, gold was able to rally for a third day.

The oil margin hike came on the heels of consecutive margin increases on the COMEX silver futures in the past two weeks, which knocked silver prices down more than 25 percent last week and triggered a broad sell-off in commodities.

The euro edged higher, Greek government bond yields fell and safe-haven German Bund prices retreated on Tuesday on talk that a new aid deal for Athens could be in place as soon as next month.

[Po_d Mainiac]

33. PM's will raise until the CME tries to game the long puts again

By doing so they may have done an excellent job of knocking-up the dog by forcing out the weak positions and creating a nice entry for stronger investors that will take delivery :popcorn:

They (exchanges) are playing as if there is a single buyer leveraged to the max (as Hunt was) but it would appear there is a great deal more strenght, and the fiat race to the bottom is just adding napalm to the vanities conflagration.

The next margin call increase will come in 5-4-3

[xchrom]

93. Hi-yo Silver, away!

http://www.marketwatch.com/story/hi-yo-silver-and-away-2011-05-10?link=MW_story_investinginsight

PORT WASHINGTON, N.Y. (MarketWatch) — The massive decline in silver prices last week does not necessarily mean that the bull market in silver is over.

True, the recent run-up in prices was quite astounding. In just six months, silver prices doubled, almost hitting its all-time high set back in 1980.

Silver also outpaced other commodities — even gold. For years, it took about 63 ounces of silver to buy an ounce of gold. By last week, however, that ratio had been cut in half, to 32.

Bear in mind that, while there were two main reasons why silver shot up in 1980, there were several others this time.

[tclambert]

131. Silver went from $44 to $34 in a week, now back to $38.

Last August it was $18.50. Such violent mood swings indicate irrationality. Irrational is not precisely the same as unpredictable. Still, I don't have any idea what it will do next. And that makes it entertaining.

[xchrom]

21. europe: WRAPUP 1-EU paymaster Merkel guarded on new aid for Greece

http://www.reuters.com/article/2011/05/10/eurozone-idUSLDE7490UN20110510

ATHENS/BERLIN, May 10 (Reuters) - German Chancellor Angela Merkel, Europe's reluctant paymaster, said on Tuesday she could only discuss further aid for Greece after EU and IMF officials report on implementation of its existing rescue plan.

Speaking to foreign correspondents in Berlin, Merkel did not rule out additional funding for Athens, or a possible fresh easing of the terms on its 110 billion euro ($157 billion) bailout, and she voiced confidence that the German parliament would back a permanent bailout mechanism for the euro zone.

"I need to analyse the findings of the European Central Bank, European Commission and International Monetary Fund first and I can't comment before that," she said. "Anything else would not help Greece or Europe."

A source with direct knowledge of the joint inspection mission visiting Athens said EU and IMF officials had not yet concluded whether Greece had met targets required to receive the next tranche of aid under its existing aid deal.

[xchrom]

24. india: Fuel price meet deferred, higher diesel price eyed

http://www.moneycontrol.com/news/economy/fuel-price-meet-deferred-higher-diesel-price-eyed_541956.html

A meeting of the Empowered Group of Ministers (EGoM) to consider raising fuel prices this week has been deferred, but an oil ministry source said the government had been recommended to raise diesel prices by more than Rs 4 a litre, the steepest hike in about a decade.

The government, walking a tightrope between cutting subsidies and tackling public anger over inflation, was expected to raise fuel prices on Wednesday, leveraging a rare political window of opportunity and softer global crude oil prices.

Such a measure could have helped the government trim its subsidy bill and shore up the bottomline of oil firms but also stoke worries over inflation which remains at around 9%.

[xchrom]

26. India gold extends gains; physical buying retreats

http://www.moneycontrol.com/news/commodities/india-gold-extends-gains-physical-buying-retreats_541973.html

Gold rose on Tuesday afternoon, extending gains for a fourth straight session, following a weaker rupee, prompting traders to abstain from booking new deals, dealers said.

The most-active gold for June delivery on the Multi Commodity Exchange (MCX) was trading 0.71% higher at Rs 22,156 per 10 grams, after hitting a high of Rs 22,190.

"Yesterday, we saw some buying, but today it is dull," said a dealer with a state-run bullion importing bank in Mumbai.

[xchrom]

35. Is gold better bet than silver? Expert answers

http://www.moneycontrol.com/news/commodities/is-gold-better-bet-than-silver-expert-answers_541807.html

Ashok Mittal of Vertex Securities, in an interview with CNBC-TV18’s Udayan Mukherjee and Mitali Mukherjee, gave his perspective about the commodities market and shares some strategies going forward.

Below is the verbatim transcript of the interview. Also watch the accompanying video.

Q: Do you think the correction in silver is done? Is it time to start buying again?

A: Silver has rebounded well. This bounce back should continue for some more time. On the international market, we expect somewhere about UDS 38.60-39. We are close to Rs 57,000 on Multi-Commodity Exchange (MCX) in India.

Buying silver at somewhere about Rs 56,800-56,900 should be a good idea with a stop loss of about Rs 200-300. The target should be somewhere about Rs 57,600 or little higher than that.

[xchrom]

29. Nifty lacks spark; HUL, NTPC stand out in flat market

http://www.moneycontrol.com/news/local-markets/nifty-lacks-spark-hul-ntpc-stand-outflat-market_541963.html

t was another rangebound session for the Indian equity benchmarks on Tuesday - especially after that sharp spike up seen on last Friday. The market remained sideways as if it could be waiting for some trigger like EGoM meet, government policies, crude movement, any global event etc - so that it would give direction on either side.

Rajan Malik, Head equities, Private client group, MF Global advised caution at current level. "Right now the joker in the pack is going to be oil and it is difficult to say how it is going to move going forward. But one would assume at least for the next quarter one would have to be very careful with these markets and if anything I would tend to believe that there is more downside risk than upside risk," Malik said.

The 50-share NSE Nifty traded in broad range of 5540-5590 during the day, before closing at 5541.25, down 9.85 points. The 30-share BSE Sensex fell just 16.19 points, to end at 18,512.77.

From the general trend in the market, N Sethuram, CIO, Daiwa Mutual Funds said there could be a little more of correction.

[xchrom]

62. SNAPSHOT-Indian policy highlights on Tuesday, May 10

http://uk.reuters.com/article/2011/05/10/india-policy-snapshot-idUKL3E7GA2F220110510

May 10 (Reuters) - Following are statements from Indian policymakers as well as the latest news and scheduled events.

* Denotes new entry.

* Concerns of volatile capital inflows owing to interest rate differential are not as intense in India as in other emerging market economies due to the country's large current account deficit, the central bank chief said on Tuesday.

"In India's case, the concerns on this account currently are less acute since capital inflows are needed to finance our current account deficit," Reserve Bank of India (RBI) governor Duvvuri Subbarao said in a speech at a conference in Zurich.

[xchrom]

63. UPDATE 2-Indian microlender SKS seen struggling short-term

http://uk.reuters.com/article/2011/05/10/sks-idUKL3E7GA0ZI20110510

MUMBAI, May 10 (Reuters) - Indian lender-to-the-poor SKS Microfinance (SKSM.NS), whose shares have taken a beating on a gloomy sector outlook, expects fresh difficulties in coming quarters and predicts consolidation in the embattled industry.

Shares in SKS, which went public last year, have lost 80 percent of their value from a September peak but gained 10 perecent on Tuesday after hitting a record low.

"Probably there would be near-term pain for a quarter or two," SKS chief financial officer Dilli Raj told reporters at a briefing on Tuesday from Hyderabad in the southern state of Andhra Pradesh, where the company is based.

India's once-thriving microfinance sector has been reeling since Andhra Pradesh, its largest market, clamped down on business practices such as high interest rates and aggressive loan recovery practices last October.

[Demeter]

30. Florida Cuts Unemployment Benefits To Pay For Corporate Tax Cut

http://thinkprogress.org/2011/05/08/florida-benefits-corporate/

In the last few months, conservatives in several states have moved to limit unemployment benefits, even with the national unemployment rate at 9 percent and more than 40 percent of the unemployed having been out of work for six months or more. Conservative lawmakers in Utah falsely claimed that cutting jobless benefits would be “motivation for people to get back to work,” while Michigan gutted its unemployment insurance system despite having one of the highest unemployment rates in the nation.

Florida Republicans this weekend also succeeded in reducing their state’s unemployment benefits, sending a bill to Gov. Rick Scott (R-FL) for his signature:

A bill that would establish some of the deepest and most far-reaching cuts in unemployment benefits in the nation is heading for the desk of Gov. Rick Scott…The legislation would cut maximum state benefits to 23 weeks from 26 when the jobless rate is 10.5 percent or higher. If lower, the maximum would decline on a sliding scale until bottoming at 12 weeks if the jobless rate was 5 percent or less.

As the National Employment Law Project pointed out, with this bill, Florida will “go further than any other state in dismantling its unemployment insurance system.” The Republican sponsor of the bill, state Sen. Nancy Detert (R), relied on the same false assumption as the lawmakers in Utah, saying that cutting benefits “encourages people to get back into the job market.” Research by the San Francisco Federal Reserve has found that workers who qualify for unemployment benefits stay unemployed just 1.6 weeks longer than those who do not qualify for such benefits.

[hamerfan]

43. Seems obvious...

Us peons matter less and less to the über-wealthy. And as TG would remind us, "They just don't care!"

[Roland99]

50. Less than 2% of businesses in FL even pay a corporate tax. Yes, less than 2%!

According to the Orlando Sentinel in Sunday's paper.

[Fuddnik]

82. In the mean time, the Koch Bros bought their own public university.

http://www.tampabay.com/news/business/article1168680.ece

I posted this in LBN. Posted here again for those who don't venture into the jungle.

[Demeter]

117. They obviously don't believe in Science or Academic Rigor or Independent Thought and Analysis

They are in fact nuts. In a contest between economics and propaganda, the economy will win, every time. To use the study of economics AS propaganda is not education, it's indoctrination, the kind of thing they beat the Communists about the head and shoulders for, for 60 years..

[Fuddnik]

137. Well, their daddy did work for Stalin.

Also note in the article that BB&T Bank is also sponsoring a program, with studying "Atlas Shrugged" as part of the course requirement.

[Demeter]

31. U.S Default Countdown; Is this the end of the road for the Empire? By Mike Whitney

http://www.informationclearinghouse.info/article28060.htm

Sometime in mid-May, the United States will hit the debt ceiling ($14.3 trillion) which is the legal limit that the country can borrow without congressional approval. If the ceiling isn't raised, the US will default on its debt and the government will begin to shut down. But that appears to be less likely now than it was a week ago because Treasury Secretary Timothy Geithner has implemented a plan that will pay off bondholders and keep the government operating until early August. Geithner's accounting maneuvers are designed to give the Obama administration and congress a little more time to hammer out the details on a final budget deal. But that's not going to be easy, because Democrats and Republicans are still far apart on the issue of spending cuts, and neither party is willing to give ground. And that's why Wall Street is so worried, because if a settlement isn't reached soon, the uncertainty is liable to roil markets and send stocks plunging.

The conservative Republican Study Committee is calling for "immediate spending cuts, spending caps at about 18 percent of GDP and a balanced-budget amendment similar to the plan unveiled by Senate Republicans in March." (Washington Post) That's not the kind of "compromise" that the Obama team is looking for, nor will the Dems agree to slash spending and risk a double dip recession just to placate GOP deficit hawks. That's a non-starter. So, the standoff will probably drag for a while longer while the looming August 2 deadline gets closer and closer. If negotiations break-down and policymakers aren't able to reconcile their differences by early August, then the big steel door on the Treasury vault will slam shut, government payments will stop, and the United States of America will default.

No one expects that to happen. The US has never defaulted on its debt and it's not going to now. But, guess what, it really doesn't matter, because by the time congress agrees to a deal, the damage will have already been done. You see, foreign banks and financial institutions don't base their investment decisions on what actually happens, but what they "think" will happen. So, if the political stalemate continues, investors will get increasingly nervous and move their money out of US Treasuries and into something else. And, that WILL happen because, every day that goes by, the uncertainty builds and investors grow more apprehensive.

Here's an excerpt from an article in The Economist which explains what would happen if congress doesn't get it's act together and pass a budget before time runs out:

"Even a brief default on Treasury debt would be unprecedented, with widespread systemic ramifications. Would banks around the world have to classify Treasury holdings as non-performing? Would money-market mutual funds break the buck? Would all federal entities lose their AAA-credit rating? Would the Federal Deposit Insurance Corporation’s ability to backstop the nation’s banks come into question? Would foreign central banks start to shift out of dollars?....

The consequences of defaulting on other obligations should not be minimized, either. The federal government now has to borrow about 40 cents of every dollar it spends. A prolonged inability to meet 40% of its obligations would sow economic disarray, trigger litigation, and eventually raise doubts about its ability to meet any obligations." ("The debt ceiling and default", The Economist)

So, while the public has been focused on Bin Laden, America's debt ceiling day of reckoning has been drawing ever closer. If congress fails to make a course correction fast, the consequences could be dire. That's according to Matthew E. Zames, managing director at JPMorgan Chase and the chairman of the Treasury Borrowing Advisory Committee....there's a good chance that foreign investors will reduce their purchases of Treasuries, which means that borrowing costs will go up and credit will get tighter. A default would also lead to a downgrade on U.S. debt, severely disrupting the $4 trillion Treasury financing market. And that could easily trigger another run on the shadow banking system. In fact, it's impossible to imagine that it wouldn't start another bank run...

INTERESTING CONCLUSION TO HIS COLUMN--RECOMMEND TO READ IT ALL

[xchrom]

36. Microsoft nears Skype deal

http://seattletimes.nwsource.com/html/businesstechnology/2015009781_microsoftskype10.html

Microsoft is nearing a deal to buy Skype, an Internet phone company, for $7 billion to $8 billion, according to a report online Monday night in The Wall Street Journal.

The report, citing unidentified sources, said a deal could be announced Tuesday.

Microsoft declined to comment.

Speculation about a possible deal stirred earlier in the day Monday on various technology blogs.

[xchrom]

90. Microsoft to buy Skype for $8.5 billion cash

http://www.marketwatch.com/story/microsoft-in-talks-to-buy-skype-reports-2011-05-10

SAN FRANCISCO (MarketWatch) — Microsoft Corp. said Tuesday that it will buy the Internet video-phone-service provider Skype Global for $8.5 billion in cash to expand its portfolio of real-time communications products and services.

The Redmond, Wash.-based software company is purchasing Skype from an investor group led by Silver Lake. The group had acquired the company from eBay Inc. /quotes/comstock/15*!ebay/quotes/nls/ebay EBAY +2.36% in a 2009 deal valued roughly at $2.75 billion.

The transaction left eBay with a roughly 30% equity investment in Skype.

Shares of Microsoft /quotes/comstock/15*!msft/quotes/nls/msft MSFT -1.20% fell more than 1% to $25.56, while eBay’s stock gained 2.4% to $33.92.

[xchrom]

92. Microsoft-Skype deal shows need for tax reform Commentary:

http://www.marketwatch.com/story/microsoft-skype-deal-shows-need-for-tax-reform-2011-05-10?link=MW_story_investinginsight

WASHINGTON (MarketWatch) — Easily overlooked in the Microsoft deal to buy Skype is how much tax played a role in the decision.

U.S. firms are reluctant to bring the cash they earn overseas back home, because then they are taxed at a 35% clip, which is higher (at the headline rate) than every country but Japan. It’s an issue traditionally associated with Cisco Systems Inc. /quotes/comstock/15*!csco/quotes/nls/csco CSCO +0.97% , which keeps roughly $40 billion offshore and has built facilities in Ireland and made acquisitions in Norway to avoid a steep tax bill at home.


Their chief executive, John Chambers, is pressing Congress and the White House to enact another 2003-like tax holiday as well as longer-term reform. Both the Obama administration and the Republican leadership in Congress support the idea of lower corporate tax rates in principle but, for the White House at least, only if various special tax breaks for companies are removed as well.

Since Skype is based in Luxembourg, Microsoft’s /quotes/comstock/15*!msft/quotes/nls/msft MSFT -1.24% $8.5 billion that it has agreed to pay effectively stretches further. The U.S. corporate tax rate is 35%, but Luxembourg’s is roughly 22%.

[Demeter]

37. Millionaires who owe no federal income tax

http://money.cnn.com/2011/05/09/pf/taxes/millionaires_income_tax/index.htm

[xchrom]

38. Plan would mandate paid sick leave in Seattle

http://seattletimes.nwsource.com/html/localnews/2015009895_sickleave10m.html

Seattle would become the fourth city in the nation to require all private employers to provide paid sick leave to workers under a proposal being advanced by a coalition of labor and community groups.

Advocates say such a law would improve public health by keeping sick parents or their children at home and not forcing workers to choose between getting paid and getting well.

Many small-business and restaurant owners oppose the idea, saying the costs could be staggering to operations with small profit margins and a large number of part-time employees.

"One Seattle restaurant owner estimated this would cost him between $65,000 and $175,000 a year. Where is that going to come from? Do I cut wages, raises, paid vacation days? What do I do?" asked Josh McDonald, director of local government affairs for the Washington Restaurant Association

[xchrom]

41. ArtsFund: empower the arts, power the economy

http://seattletimes.nwsource.com/html/editorials/2014985259_edit09arts.html?prmid=op_ed

MOST of the year, ArtsFund works behind the scenes to support the rich cultural offerings of more than 60 nonprofit organizations in King and Pierce counties.

For a brief moment each spring, ArtsFund steps into the spotlight to ask for help from corporate and private donors to power an extraordinary array of artistic expression. This year the campaign seeks to raise $2.9 million by June 30.

Money raised is turned into performance-sustaining grants for music, theater, visual arts, dance, film and media, literary arts, multidisciplinary programs, and service organizations and museum projects.

[Demeter]

44. Gov. Walker Signs Bill Blocking Milawukee’s Paid Sick Leave Law

http://wonkroom.thinkprogress.org/2011/05/05/walker-repeals-sick-leave/

[Demeter]

39. Central bank pegs yuan rate at new record high

http://www.chinadaily.com.cn/china/2011sinousdialogue/2011-05/10/content_12475819.htm

The People's Bank of China set the yuan's reference rate at a new record high of 6.4988 per dollar on Monday, right ahead of the annual China-US Strategic and Economic Dialogue held in Washington.

The central bank set the yuan's reference rate 0.02 percent stronger than it was the previous trading day, the biggest change since July 2005 when China started to liberalize the yuan's exchange rate...

[Demeter]

48. U.S. Will Urge China to Boost Interest Rates as Talks Start

http://www.bloomberg.com/news/2011-05-08/geithner-will-urge-china-to-allow-higher-interest-rates-stronger-currency.html

Treasury Secretary Timothy F. Geithner will urge China to allow higher interest rates when he meets with Chinese leaders this week, as the U.S. extends its push for a stronger yuan.

Geithner will say China should relax controls on the financial system and give foreign banks and insurers more access, said David Loevinger, the Treasury Department’s senior coordinator for China. Officials from both nations are meeting in Washington today and tomorrow as part of the annual Strategic and Economic Dialogue.

U.S. officials argue that a yuan kept artificially cheap to help exporters also makes it harder for China to lift interest rates and curb an inflation rate that hit a 32-month high in March. China, led at the talks by Vice Premier Wang Qishan, blames record U.S. budget deficits for contributing to lopsided flows of trade and investment.

“It’s pretty clear that the current system is hurting them in their inflation fight,” said Dan Dorrow, head of research at Faros Trading LLC, a currency trading firm in Stamford, Connecticut. “The reason for that is the improperly priced exchange rate.”

[xchrom]

87. Experts say stronger yuan mainly due to dollar depreciation, warn of "hot money" influx

http://news.xinhuanet.com/english2010/china/2011-05/09/c_13866549.htm

BEIJING, May 9 (Xinhua) -- The appreciation of the yuan, China's currency, against the U.S. dollar has mainly occurred because of a weaker dollar, experts said, warning that an influx of "hot money" could follow.

The value of China's yuan hit a new high against the U.S. dollar on Monday as the central bank fixed the central parity rate at 6.4988 yuan per U.S. dollar, just ahead of the China-U.S. Economic and Strategic Dialogue, which opened on Monday in Washington.

The symbolic 6.50 ratio was broken for the first time on April 29, when the central bank set its parity rate at 6.4990 yuan per U.S. dollar. The yuan exchange rate has gained by almost 1.9 percent against the U.S. dollar since the start of this year.

It has also risen by nearly 5 percent against the greenback since June 19 of last year, when the central bank pledged that it would make its exchange rate formation mechanism more flexible.





WHAT THE HELL IS 'HOT MONEY'? i think somebody hired a gay man to write for them.

[Demeter]

122. "Hot Money" is the term for any spare cash lying around

The Holder of the hot money is ready willing and able to ship it off anywhere that offers the highest return on investment. Sometimes risk is not even an issue.

The hot money holders like to throw their weight around, threatening to jerk the money away if a nation does something they don't like.

Most nations hate hot money for the blackmail, and for the domestic price inflation that usually arises. Also known as capital inflows (and outflows).


definitions from:

http://www.businessdictionary.com/definition/hot-money.html


1. General: Alternative term for discretionary income.

2. International finance: Extremely volatile short-term capital that moves on a short notice to any country providing better returns. Powerful speculators can quickly pump massive sums into a high-yield economy, giving it an artificial aura of success and propriety. But, on a mere suspicion of a downturn or other negative factor, they can (and do) withdraw it almost overnight causing a near collapse of the country's financial structure.

3. Local finance: Money obtained through illegal means such as drug trafficking. Also called dirty money.

[xchrom]

108. National Bank of Kazakhstan considers converting reserves to Chinese yuan

http://news.xinhuanet.com/english2010/china/2011-05/10/c_13868418.htm

ALMATY, May 10 (Xinhua) -- The National Bank of Kazakhstan does not rule out converting part of its foreign reserves to Chinese yuan if it becomes an internationally recognized reserve currency, the bank CEO said Tuesday.

"To be part of our foreign reserves the yuan must be recognized internationally as both a hard currency and a reserve currency," said bank CEO Grigory Marchenko. "There are many discussions on that topic...We believe the changes will take place this year. If it happens, then part of our gold and foreign currency reserves will be converted to yuan."

Marchenko said the National Bank will obtain the Chinese currency and Russian rubles through swap transactions.

Marchenko said after several months of negotiations, the National Bank of Kazakhstan and the People's Bank of China had "agreed to use swaps."

[xchrom]

109. China's Xinjiang to boost yuan settlement in cross-border trade

http://news.xinhuanet.com/english2010/business/2011-05/10/c_13868390.htm

URUMQI, May 10 (Xinhua) -- China's northwestern Xinjiang Uygur Autonomous Region aims to have five percent of its foreign trade settled in yuan, China's official currency, in 2011 as the country continues to push for the use of the yuan in international trade.

Officials with the region's financial department said on Tuesday that yuan-settled cross-border trade has exceeded 12.2 billion yuan (about 1.88 billion U.S. dollars) since last October, when the region started to allow the Chinese currency to be used as an alternative to the U.S. dollar in international trade.

Fifteen banks in Xinjiang are certified to handle cross-border yuan services, while 20 foreign banks and institutes offer other yuan-related services, officials said.

[Demeter]

40. SEC’s Schapiro eyes high frequency traders

A LOT OF BREAST-BEATING ON THE ANNIVERSARY OF THE 'FLASH CRASH'

http://www.marketwatch.com/story/secs-schapiro-eyes-high-frequency-traders-2011-05-06-1015380?reflink=MW_news_stmp

The activity of high frequency traders and the algorithms they used one year ago today when a ‘flash crash’ rattled the markets worldwide should cause the Securities and Exchange Commission to “thoroughly” examine their role, said agency chief Mary Schapiro on Friday.

“In 2010, the high frequency traders who are today’s liquidity providers represented well more than 50% of market volume and were net aggressive sellers during the broad index price decline," Schapiro told a gathering of mutual fund managers.

“High frequency traders turned what was a very down day for many investors into a very profitable one for themselves by taking liquidity rather than providing it. I think their activity that day should cause us to thoroughly examine their current role.”

[Demeter]

42. Shrinking Supplies Mean Bye-Bye Used-Car Bargain

http://online.wsj.com/article/SB10001424052748703859304576307132781060592.html?mod=dist_smartbrief

Prices for used cars hit a record high in April and are poised to go even higher as production cutbacks during the recession and the more recent Japanese earthquake has made used vehicles a hot commodity as dealers dive into the depleted pool for cars to fill their lots.

The one-two punch has added between $1,500 to $3,000 to the price of some used cars just in the last six months, meaning more money for trade-ins and a tougher time for shoppers looking for a deal...

MAYBE I SHOULD SELL MY LITTLE SATURN WITH 215K MILES AND NEW TIRES...IT PROBABLY HAS DOUBLED IN VALUE...MUST BE WORTH $1000!

[AnneD]

120. Bet you could get ....

a Hummer for a song. :rofl: I am so easy to entertain.

[Demeter]

128. You Know I'd End Up With a Humdinger

with emphasis on the dings...

[Demeter]

45. AIG Fall Blunts Talk of Taxpayer Gain

http://online.wsj.com/article/SB10001424052748704681904576311342211666106.html?mod=dist_smartbrief

As American International Group Inc. executives this week begin promoting a stock sale that will help end U.S. ownership in the giant insurer, the government looks unlikely to reap large gains officials talked up just months ago, and may not profit from its first offering of AIG shares.

Late last year, with AIG shares soaring and the initial public offering of General Motors Co. exceeding expectations, company and federal officials raised hopes that taxpayers would score big profits on the stake in the insurer that the government rescued at the height of the financial crisis.

Since then, the combination of disappointing 2010 financial results by AIG and the tens of billions of dollars in shares that the government needs to unload over time has dimmed prospects for the first stock sale, expected later this month.(LET'S NOT MENTION HOW MUCH AIG HAD TO PAY OUT FOR FUKUSHIMA--THAT WOULD HURT OUR NUCLEAR POWER CAMPAIGN...DEMETER)

AIG's publicly traded shares have lost over a third of their value since mid-January, even as the overall U.S. stock market has rallied strongly. The shares closed at $30.70 Friday in 4 p.m. New York Stock Exchange trading...Treasury's break-even price on its AIG stake is about $28.70 per share.

[Demeter]

46. JPMorgan Chase Nearly Doubles Commodities Trading

http://www.cnbc.com/id/42934204

The size of JPMorgan Chase’s trading portfolio of physical commodities nearly doubled from the first quarter of last year to the most recent quarter, according to filings with the SEC...Most of that growth came during the first quarter. At the end of last year, JP Morgan said it had $12 billion in physical commodities.

The commodity derivatives book is also growing. For the first quarter, the bank said it had $12.8 billion of commodity derivative assets, compared with $6.5 billion last year.

JPMorgan’s liabilities for commodities derivatives grew at an almost startling pace. In the first quarter of this year, it says it had $11.3 billion of liabilities for commodities derivatives. The year before, that number was just $2.7 billion.

[Demeter]

47. Commodities fund loses $400 mln in oil slide -report

http://af.reuters.com/article/metalsNews/idAFN0813509820110508

Clive Capital, the world's largest commodity hedge fund, lost more than $400 million due to the collapse of the price of oil last week, according to the Financial Times on Sunday.

The London-based fund, which manages an estimated $5 billion of client money, is the largest of several hedge funds believed to be impacted by the unexpected sell-off, the newspaper said.

Clive said it was down 8.9 percent on the week after what it called "extraordinary" price movements on Thursday, according to a letter sent to investors on Friday and seen by the Financial Times.

Thursday's sell-off was started by retail and non-traditional investors taking profits, a move which triggered automatic selling from quantitative funds, according to the newspaper...

[Demeter]

49. Time to go beat my head on a few walls, again

Have a good day, everyone.

[xchrom]

52. Imax expanding rapidly in emerging economies

http://www.latimes.com/business/la-fi-ct-imax-20110510,0,3629504.story

In the ballroom of a tony hotel in downtown Beijing, a dozen women dressed in gold to resemble Oscar statuettes gathered on a stage lined with giant rolls of unfurled film. Alongside, a coterie of dignitaries and American and Chinese theater executives stood behind a giant director's clapboard that snapped shut, sending off fireworks and a stream of confetti from the ceiling.

The ceremony, held in late March, was part of an event marking a historic agreement between Imax Corp., the big-screen theater company, and Wanda Cinema Line, the largest theater operator in China.

Their pact, valued at $100 million, calls for opening 75 theaters in the country over the next three years. It represents the first revenue-sharing arrangement of its kind in China for Imax, which has been building relationships in the world's most populous nation for more than a decade.

The Canadian company, which has offices in Toronto and New York and a large operation in Santa Monica, has been aggressively expanding its business not only in China but in Russia, Brazil, India and other emerging economies as well. In such places, the theater industry has plenty of room to grow, and rising middle classes with more disposable income are hungry for American entertainment.

[xchrom]

53. Texas governor woos Vernon businesses

http://www.latimes.com/business/la-fi-vernon-texas-20110510,0,6630585.story

Reporting from Sacramento—
Texas Gov. Rick Perry, the Lone Star State's recruiter-in-chief, is aiming to take advantage of a political fight over the future of the tiny industrial city of Vernon.

Perry has sent dozens of emails to some of Vernon's approximately 1,800 employers, telling them that a bill backed by California Assembly Speaker John Perez could eliminate many of the tax and operating-cost advantages they enjoy in the manufacturing enclave southeast of Los Angeles.

"As the state of California continues to support legislation that causes undue burden and taxation on companies doing business in the Los Angeles area, I invite you to consider your future in America's new land of opportunity: the state of Texas," Perry wrote.

"If California doesn't want your business, Texas does."

[Hotler]

55. k&r I have no hope. I see no future. n/t

[Mnemosyne]

57. If you wake up breathing, there is always hope.

I know where you are coming from though, very discouraging. :hug:

[Fuddnik]

69. If you make it through the week-end without the tag on your toe.

You win!

[Demeter]

125. You win another week, in other words

just like the one you just survived...

[xchrom]

56. What Zipcar Can Teach the S&P 500

http://blogs.hbr.org/cs/2011/05/what_zipcar_can_teach_the_sp_5.html

If American companies are to grow their way out of the doldrums, they will need to show some of the imagination of upstarts. Consider Zipcar, whose recent IPO valued the 11-year old company at over $1 billion. The company came from nowhere into a rental car business dominated by giants such as Hertz and Avis, creating a new market of by-the-hour rentals. Meanwhile, the incumbents focused on battling each other at longstanding airport locations. As the giants continue to duke it out, Zipcar has captured 80% of the industry it created. Ironically, Zipcar repeated a story that happened once before in the rental car industry. Hertz is the leader at the airport, but Enterprise Rent-A-Car grew to become more than double Hertz's size through concentrating on neighborhood-based locations, where the giants did not compete.

The S&P 500 companies, which now have nearly $1 trillion of cash on hand, should take heed. While entrepreneurs are grasping for venture capital, the nation's leading firms seem puzzled about how to spend their money. Their lack of imagination stunts economic growth.

[xchrom]

58. europe: European shares gain, led by banks, miners

http://uk.reuters.com/article/2011/05/10/markets-europe-stocks-idUKLDE7490OL20110510

LONDON, May 10 (Reuters) - European shares were higher at midday on Tuesday after concerns about the Greek debt situation eased, boosting bank stocks, with strong Chinese trade data lifting miners.

Traders said while the market had short-term relief from a Dow Jones report of a possible 60 billion euros ($86 billion) aid package to resolve Greece's debt problems, problems still remained.

The report was denied by Greece and ECB policymakers said a Greek debt restructuring would have dire consequences, favouring giving Greece more time to repay aid rather than issuing new loans.

By 1145 GMT, the pan-European FTSEurofirst 300 .FTEU3 index of top shares was up 1 percent at 1,151.18 points after peripheral EU debt fears dragged shares lower in the previous session.

[xchrom]

60. UPDATE 2-Solar company Energy Conversion to cut 300 jobs on Europe woes

http://uk.reuters.com/article/2011/05/10/energyconversiondevices-idUKL3E7GA1QS20110510

BANGALORE, May 10 (Reuters) - Solar company Energy Conversion Devices Inc will slash 300 jobs, or a fifth of its workforce, as it aims to lower costs amid cut-throat competition due to falling subsidies in Europe.

The Auburn Hills, Michigan-based company posted its eighth straight quarterly loss on Tuesday, as total revenue plunged 70 percent due to lower sales in European markets.

Energy Conversion, like many of its peers, has been plagued by concerns about cutbacks in incentives for solar power in top European markets such as Italy, France and Germany.

Last week, Italy pared back the generous solar power incentives that had made it the world's second largest market behind Germany, feeding fears that an oversupply of solar modules could pressure prices and margins in the industry.

[xchrom]

61. Gazprom says increases May gas exports 28 pct

http://uk.reuters.com/article/2011/05/10/russia-gazprom-idUKLDE7491OD20110510

May 10 (Reuters) - The world's biggest gas producer Gazprom (GAZP.MM) has increased its daily gas exports by 27.8 percent so far in May as demand rises on the back of economic recovery, the company quoted its head as saying on Tuesday.

[xchrom]

64. UPDATE 1-D.Boerse workers decline to back NYSE deal -sources

http://uk.reuters.com/article/2011/05/10/deutscheboerse-workscouncil-idUKLDE7491N720110510

FRANKFURT, May 10 (Reuters) - Deutsche Boerse AG's (DB1Gn.DE) works council refuses to back a merger proposal with NYSE Euronext (NYX.N), two people familiar close to the company said on Tuesday.

The lack of support by labour representatives is not enough to block the merger but undermines Deutsche Boerse's campaign to convince German regulators that a deal strengthens Frankfurt as a financial centre.

The state of Hesse's Ministry of Economics in the city of Wiesbaden, which bestows the license to operate a stock exchange, still needs to give its approval of the deal, which is in competition with an offer from Nasdaq OMX Group Inc (NDAQ.O) and Intercontinental Exchange Inc (ICE.N).

[xchrom]

59. asia: Nikkei gains on Toyota output recovery report

http://uk.reuters.com/article/2011/05/10/markets-japan-stocks-idUKL3E7GA1K120110510

TOKYO, May 10 (Reuters) - Japanese stocks edged higher on a
report that Toyota Motor Corp's output will likely
return to normal two or three months earlier than expected but a
cut to Greece's debt rating pushed the yen higher and weighed on
sentiment.

Trade was thin with many participants keeping to the
sidelines ahead of more corporate earnings from major companies
this week, including bellwether Toyota and electronics
conglomerate Hitachi Ltd , which report on Wednesday.

Japanese manufacturers are still struggling to deal with big
disruptions to parts supplies after the March 11 earthquake and
tsunami and the Nikkei newspaper report about Toyota provided a
boost to the benchmark although some of those gains were pared
in late trade.

"Investors are very sensitive to news about recovery. The
report about Toyota will help them to focus on the future --
they will probably think Japanese companies will recover and
that it's going to happen sooner rather than later," said Makoto
Kikuchi, chief executive officer at Myojo Asset Management.

[xchrom]

85. China's April CPI to stay above 5 pct: survey

http://news.xinhuanet.com/english2010/china/2011-05/10/c_13866568.htm

SHANGHAI, May 9 (Xinhua) -- China's consumer price index (CPI), a main gauge of inflation, may stay at a high level and rise 5.15 percent year on year in April, according to a survey released Monday by Xinhua08, a financial trading system established by Xinhua News Agency.

The pace might be slower than March's 5.4 percent, a 32-month high, but still higher than the first quarter CPI growth of five percent, said the forecast, which was calculated according to estimations of research institutions and economists.

The survey estimated that the April producer price index (PPI), a main gauge of inflation at the wholesale level, would rise 7.2 percent from one year earlier, down from 7.3 percent in March.

[xchrom]

95. Shanghai stocks climb ahead of inflation data

http://www.marketwatch.com/story/shanghai-stocks-climb-ahead-of-inflation-data-2011-05-10?dist=markets

HONG KONG (MarketWatch) -– Most Asian markets rose Tuesday, with Chinese shares climbing amid hopes upcoming data might show a moderation in monthly inflation, while Japanese stocks gained on some upbeat results and a weakened yen.

Most markets gained on the back of an overnight advance on Wall Street, although European sovereign debt worries kept investors in a cautious frame of mind.

China’s Shanghai Composite Index /quotes/comstock/16k!i:000001 CN:SHCOMP +0.63% rose 0.6% to 2,890.63, Japan’s Nikkei Stock Average /quotes/comstock/64e!i:ni225 JP:NI225 +0.25% gained 0.3% to 9,818.76, New Zealand’s NZX 50 added 0.3% to 3,528.74 and the benchmark Philippine index added 1.1% to 4,303.13. South Korean and Hong Kong markets were shut for public holidays.

[xchrom]

100. Korea secures pledges from EU firms

http://joongangdaily.joins.com/article/view.asp?aid=2936022

Korea has secured pledges from companies in European Union countries that they will invest up to $510 million in the new energy and machine component sectors here, the Ministry of Knowledge Economy said yesterday.

The pledges were secured by Knowledge Economy Minister Choi Joong-kyung, who is accompanying President Lee Myung-bak on his eight-day trip to Europe, which began Sunday, to facilitate trade and investment between the two entities, according to the ministry.

[xchrom]

101. Inflation stokes Korean gold fever

http://joongangdaily.joins.com/article/view.asp?aid=2936019

U.S. billionaire investor Warren Buffett may disagree, but Korean housewife Ahn Ji-youn firmly believes that she and her husband made the right decision when they placed a good part of their savings in bank deposits linked to gold prices early this year.

The bank product is increasingly popular among Koreans as a hedge against rising inflation. Many Koreans are turning to gold in the belief that gold prices are likely to remain strong.

“The news of rising inflation made me nervous,” Ahn said, explaining why she and her husband decided to put 70 million won ($64,000) in savings into gold-linked deposits offered by Shinhan Bank.

Korea’s consumer inflation rate has been above 4 percent since January, including 4.7 percent in March.

[xchrom]

102. EU free trade pact could cut inflation

http://joongangdaily.joins.com/article/view.asp?aid=2935977

A free trade deal with the European Union is expected to help ease inflationary pressure in Korea by lowering import prices of agricultural and fishery products and other food materials, the Finance Ministry said yesterday.

Korea’s parliament last week approved the free trade agreement signed in October last year and slated to take effect in July. In February, the European Parliament ratified the accord, calling for eliminating or phasing out tariffs on 96 percent of EU goods and 99 percent of Korean goods within three years after its implementation.

“The Korea-EU FTA is expected to result in cutting prices through tariff reductions or counter some of the factors that create price hikes by stimulating market competition,” the ministry said in a report.

[xchrom]

103. China Tests Helicopter Drone

http://english.chosun.com/site/data/html_dir/2011/05/09/2011050900754.html

China has successfully tested a medium-sized unmanned helicopter with a maximum takeoff weight of 757 kg.

Weifang Tianxiang Aerospace Industry conducted a flight test of the helicopter, model number V750, at a facility in Weifang City in Shandong Province on Saturday, the official Xinhua news agency reported Sunday.

The drone landed safely after completing various maneuvers at 25 m altitude for about 10 minutes, Xinhua added. The V750 made its first public appearance at an international airshow in Zhuhai last November, but this was the first official flight test.

[xchrom]

106. China pledges to cement ties with Afghanistan as FM visits Beijing

http://news.xinhuanet.com/english2010/china/2011-05/10/c_13868402.htm

BEIJING, May 10 (Xinhua) -- China's officials reaffirmed China's commitment to seeking stronger ties with Afghanistan on Tuesday during meetings with the country's foreign minister.

"China would like to work with Afghanistan to cement coordination on important international and regional issues," Chinese Vice Premier Li Keqiang told Afghan Foreign Minister Zalmay Rasoul on Tuesday.

Rasoul came to Beijing on Monday for his first China visit since taking the foreign minister post in January 2010.

At the start of the meeting, Rasoul said Afghanistan "gives tremendous attention" to its relations with China, considering China "not only as a good neighbor, but also as a good friend."

[xchrom]

107. Chile, HK ink investment deal

http://news.xinhuanet.com/english2010/china/2011-05/10/c_13867399.htm

SANTIAGO, May 9 (Xinhua) -- Chile signed an agreement with Invest Hong Kong (InvestHK) that will make Chile more attractive to Chinese investors, the Committee of Foreign Investment (CFI) said Monday in a statement.

Companies in Hong Kong have a real interest in exploring the Chilean market as a gateway to Latin America, CFI Executive Vice President Matias Mori said, adding that the new deal is the first of its kind and shows Chile's great potential.

[xchrom]

65. UPDATE 1-Regulators probe Goldman analyst communications

http://uk.reuters.com/article/2011/05/10/goldman-probes-idUKN1029866020110510

CHARLOTTE, N.C., May 10 (Reuters) - State and federal securities regulators are examining Goldman Sachs Group Inc's (GS.N) communications among its analysts, sales and trading staff and clients, the New York investment bank said on Tuesday.

The Massachusetts Securities Division is weighing administrative proceedings against the bank over the communications, according to Goldman's quarterly filing with U.S. regulators. The U.S. Securities and Exchange Commission, Financial Industry Regulatory Authority and others are investigating similar matters, Goldman said.

[Demeter]

129. A fugue for GS in the style of JSB

http://www.youtube.com/watch?v=tQ7K02dULc4

[xchrom]

66. middle east: Emirates sees 52% surge in profit, despite unrest

http://www.arabianbusiness.com/emirates-sees-52-surge-in-profit-despite-unrest-398834.html

Emirates Airline, the Arab world’s largest carrier, Tuesday posted a 52 percent rise in net profit in 2010, driven by a surge in passenger numbers and cargo traffic.

Dubai’s flag carrier made a net profit of $1.5bn for the year, Emirates Group said at a press event in the emirate, despite widespread regional turmoil.

Revenue for the airline jumped 25 percent to reach $14.8bn, the state-backed company said.

The wider Emirates Group, which includes travel unit dnata and Emirates SkyCargo, posted a net profit of $1.6bn for 2010, an increase of 42.9 percent on the previous year.

[xchrom]

68. Saudi Arabia gets tougher on jobs for expats

http://www.arabianbusiness.com/saudi-arabia-gets-tougher-on-jobs-for-expats-398789.html

Saudi Arabia has announced new plans to intensify its Saudization jobs policy, ranking private companies according to how many locals its employs.

The new initiative, which is part of efforts to reduce the unemployment rate, sets out new standards to rate the performance of firms in the private sector.

Labour Minister Adel Fakieh said in comments published by Saudi daily Arab News on Monday that private companies would be classified into green, yellow and red categories.

“We have set out new standards to assess the employment of Saudis in private firms. We have differentiated between companies that have achieved high Saudization rates and those refusing to employ Saudis,” he said.

[xchrom]

70. Tamweel plunges 10% on first trading day since 2008

http://www.arabianbusiness.com/tamweel-plunges-10-on-first-trading-day-since-2008-398897.html

Tamweel, the home finance company majority owned by Dubai Islamic Bank, tumbled 10 percent as it resumed trading more than two years after being suspended pending its reorganization.

The shares dropped to 89.1 fils at 12:41 p.m. in Dubai, the maximum permissible percentage decline in a day. Tamweel closed at 99 fils on November 20, 2008, the last time it traded.

The emirate’s benchmark gauge, the DFM General Index retreated 0.4 percent. The measure has tumbled 21 percent while Tamweel’s stock was halted.

[xchrom]

74. Saudi hits week-high, construction stocks up

http://www.arabianbusiness.com/saudi-hits-week-high-construction-stocks-up-398865.html

Building and construction index leds gains on Saudi Arabia's bourse TASI as investors bought into the sector after the government boosted measures to tackle huge demand for housing in the kingdom.

Construction companies Al Khodari Sons Co and Mohammad Al Mojil Group gained 3.3 and 2.5 percent respectively.

"The government encouraging citizens to own more houses will basically cause construction sector to rise," said Youssef Kassantini, a Saudi-based financial analyst.

In March, the Saudi king announced $93bn in handouts, which includes SR250bn ($67bn) to be spent on 500,000 new homes.

[xchrom]

75. Japan quake slowdown to hurt Toyota sales in UAE

http://www.arabianbusiness.com/japan-quake-slowdown-hurt-toyota-sales-in-uae--398861.html

Al Futtaim Motors, the UAE franchise holder for Toyota, said it expects to miss its 2011 sales target after the automaker slowed production after Japan’s record earthquake.

Japan’s March 11 quake and tsunami hobbled work at Toyota’s plants, disrupting supply to showrooms around the world and leaving them unable to meet demand.

“This year, we were really looking to go through the 100,000 unit barrier given the events in Japan and production slowdowns I don’t think we will quite hit that mark,” Simon Firth, managing director of Al Futtaim Motors, told Arabian Business.

“Toyota Motor Corporation is saying to us some of the vehicles are back to normal production already, some will be back June or July and some will take longer.”

[xchrom]

76. Commodities trading is banking's new battleground

http://www.arabianbusiness.com/commodities-trading-is-banking-s-new-battleground-398845.html

Forget bonuses. Don’t worry about bailouts. That’s all history. The battleground that matters most for the banking and finance industry right now is the profits it is making from commodities trading.

Over the last few days, prices have been bouncing all over the place, a reminder for everyone of just how unstable the market in food and raw materials has become.

Now there is a backlash building. The banks should take note of that. If they don’t, they could easily be driven out of this business - and they will only have themselves to blame.

Investors held a record $412bn of raw-material assets at the end of March, almost 50 percent more than a year earlier, according to estimates by Barclays Capital. Trading in futures and options contracts is rising rapidly. For banks and fund managers, it is a lucrative business. And the more volatile it is, the more profitable it gets.

[Roland99]

79. the next big bubble. And, of course, who needs regulation?

Byron Dorgan was a nutcase, apparently.

[xchrom]

84. +1

[Roland99]

78. Forecast: Orlando worst housing market in U.S.

Forecast: Orlando worst housing market in U.S.
http://www.orlandosentinel.com/business/os-real-estate-2011-worst-20110509,0,4239136.story?track=rss&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+orlandosentinel%2Fbusiness+%28OrlandoSentinel.com+-+Business%29

Fiserv Inc., a financial-services provider, said Monday that single-family home prices in Metro Orlando are expected to have fallen another 19 percent by the fourth quarter of 2011 compared with a year earlier. That would cut the four-county metro area's median price from $155,000 as of last year's fourth quarter to $110,050 by the end of this year.

A rebound, though, could begin in early 2012, the company said.

The local housing market should bottom out during the first quarter of 2012, Fiserv predicted, and prices are expected to rise more than 2 percent between the end of 2011 and the end of 2012. Although a slight price increase, it would put Orlando in the middle of the pack for U.S. housing markets next year — unfamiliar territory for the metro area since the housing bubble burst several years ago and home prices began to slide.

...

Orlando's near-term real-estate outlook depends largely on when stalled foreclosures begin working their way through the courts again after delays sparked by allegations of improper documentation. Orlando's recovery could be further delayed depending on how quickly, or slowly, banks initiate new foreclosures on properties behind on their mortgage payments and in default, Stiff said.

Guess I picked the right location last year.

As of right now, we're down to about 3 empty homes in the entire development. The last 3 lots are under construction and 1 is already sold. Two already built out have had a lot of traffic but no contracts yet. The builder has moved on up the road a couple miles to finish out a development left for dead a couple of years ago. So, at least in this part of town, things are picking up.

My guess is that since this is an area that's just starting to expand, there isn't much, if any, in the way of existing homes to find.

There are also some developments down closer to Disney that have been delayed but finally making progress.

[xchrom]

80. March wholesale inventories rise, sales surge

http://www.reuters.com/article/2011/05/10/us-usa-economy-inventories-idUSTRE7493J720110510



WASHINGTON | Tue May 10, 2011 10:06am EDT

WASHINGTON (Reuters) - U.S. wholesale inventories climbed in March as businesses saw a sharp increase in sales, suggesting parts of the economy are growing firmly, according to Commerce Department data released on Tuesday.

Inventories rose 1.1 percent in the last month of the first quarter, slightly above economists' forecasts. But sales jumped 2.9 percent, more than double the median projection in a Reuters poll.

[xchrom]

81. Import price rise slows in April

http://www.reuters.com/article/2011/05/10/us-usa-economy-idUSTRE7492P720110510

(Reuters) - U.S. import prices rose at a slower pace in April as petroleum and food cost increases moderated, supporting views the recent jump in commodity prices was likely to be transitory.

Overall import prices increased 2.2 percent for a seventh straight month of gains, the Labor Department said on Tuesday, slowing from a 2.6 percent increase in March.

The increase was, however, above economists' expectations for a 1.8 percent rise.

The report came on the heels of a collapse in commodity prices last week, which pulled down crude oil prices from their lofty levels. U.S. crude oil has fallen to about $102 a barrel from more than $114 at the start of May.

[xchrom]

83. not exactly pertinent, but: Harvard-Connected Lobbying Group Confesses to Illegally Helping Gaddafi

http://www.allgov.com/US_and_the_World/ViewNews/Harvard_Connected_Lobbying_Group_Confesses_to_Illegally_Helping_Gaddafi_110509

he U.S. Department of Justice is investigating a Harvard-connected consulting firm for helping the government of Libyan dictator Muammar Gaddafi without complying with federal law.

Monitor Group, an international consulting firm headquartered in Cambridge, Massachusetts, has admitted it violated the Foreign Agent Registration Act by failing to register that it was lobbying on behalf of Gaddafi’s regime.

In one document released by The National Conference of the Libyan Opposition, Monitor stated that one of its goals was “to introduce Muammar Qadhafi as a thinker and intellectual, independent of his more widely-known and very public persona as the Leader of the Revolution in Libya.”



everything seems to be about oil -- or the influence oil money can buy.

[xchrom]

86. Apple overtakes Google as world's most valuable brand

http://news.xinhuanet.com/english2010/business/2011-05/10/c_13866575.htm

SAN FRANCISCO, May 9 (Xinhua) -- Apple Inc. has overtaken Google as the most valuable brand in the world and more top global brands are originating from "BRICS" markets, global media communications services group WPP plc said in a report on Monday.

The Apple brand has increased in value by 84 percent from last year and 859 percent since 2006, with a brand value of 153.3 billion U.S. dollars, said WPP in its sixth annual study of BrandZ Top 100 Most Valuable Global Brands.

"By nurturing its brand and constantly innovating, Apple is able to command a high price premium and weather economic turbulence, providing a global business success story that other brands can learn from," said Eileen Campbell, CEO of brand research company Millward Brown, a WPP subsidiary.

During the economic recovery last year, the combined value of all the brands in the top 100 has risen by 17 percent and is now worth 2.4 trillion dollars, said the report.

[Pale Blue Dot]

89. Conn. to Begin Layoffs for State Workers (5,000)

After months of closed-door talks with state employee unions, Connecticut Gov. Dannel Malloy announced that no deal could be reached to garner $1 billion annual concessions needed to close a $3.5 billion budget gap.

“The state employee representatives have thus far not offered enough,” Malloy said in a statement Tuesday morning.

To balance the two-year $40.1 billion budget and comply with contractual layoff notice requirements, Malloy said layoff notices would go out Tuesday to “the first 4,742 state employees,” resulting in an estimated savings of $455 million. The remaining $545 million in savings would be achieved by cuts to government programs, which could result in additional layoffs.

Cuts to municipal aid, an option mentioned by Malloy previously, has not yet been included in what the governor calls his “Plan B” budget.

http://blogs.wsj.com/metropolis/2011/05/10/connecticut-to-begin-layoffs-for-state-workers/

A rant: This is a Democratic governor who proposed, and passed, a budget that DEPENDED on $2 billion in "concessions" from state unions. There was no other group, agency or program that was required to make concessions AFTER THE FREAKIN' BILL WAS PASSED. Unions were the only group singled out in this way.

Bastards. :grr:

[Demeter]

130. In Connecticut, I Don't Think "Democrat" means What We All Think It Does

I give you---Joe Lieberman, for example.

[Pale Blue Dot]

133. I worked for Ned Lamont's campaign that year.

It was so frustrating to be on the phone with supposed Democrats who supports Lieberman. Then again, CT is a conservative state that likes to pretend that it's liberal.

[xchrom]

94. U.S. stocks extend gains into third day

http://www.marketwatch.com/story/us-stocks-extend-gains-into-third-day-2011-05-10?dist=markets

NEW YORK (MarketWatch) — U.S. stocks opened higher Tuesday, extending gains into a third session, after Microsoft Corp. said it would buy Internet-phone company Skype for $8.5 billion.

Small-cap, mid-cap stocks have been leading the market and continue to do so. Today’s deal is a perfect example, all of the deal activity is occurring in the mid-cap space, so if you’re an investor that is where you are seeing companies purchased and some of that outperformance now,” said Paul Nolte, managing director at Dearborn Partners.

Also bolstering sentiment, dairy producer Dean Foods Co. /quotes/comstock/13*!df/quotes/nls/df DF +10.93% reported a better-than-expected first-quarter profit and raised its 2011 earnings forecast.

The Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed DJIA +0.40% rose 58.92 points to 12,743.6, with 26 of its 30 components gaining, led by chip manufacturer Intel Corp. /quotes/comstock/15*!intc/quotes/nls/intc INTC +1.19% , up 1.4%.

[xchrom]

96. australia: Australian budget expected to be austere

http://www.marketwatch.com/story/australian-budget-expected-to-be-austere-2011-05-09

SYDNEY (MarketWatch) — The Australian federal budget was due to be released Tuesday night, with economists expecting the government to announce an austere plan to bring its finances into surplus by fiscal 2013.

The budget will be the fourth for Treasurer Wayne Swan but the first for Prime Minister Julia Gillard, who last year took over from Kevin Rudd as leader of the Labor Party.

This year, a severe cyclone in Queensland and massive flooding in some regions has battered the country, curtailing some mining production, damaging infrastructure and depleting government coffers. In addition, the Australian dollar moved over parity with the U.S. dollar last year and is currently trading at almost $1.08 against the greenback.

Westpac economists cited a government forecast issued in November for an underlying cash deficit of 41.5 billion Australian dollars ($44.8 billion) for fiscal 2011, a deficit of A$12.3 billion for fiscal 2012, a swing to a surplus of A$3.1 billion in fiscal 2013, and a surplus of A$3.3 for fiscal 2014.

[xchrom]

97. Forex: AUD/USD challenging weekly highs

http://www.fxstreet.com/news/forex-news/article.aspx?storyid=f6d4553d-59b4-464e-9a97-3eeb43c3c0d6

FXstreet.com (Córdoba) - The Aussie continues to struggle below the 1.0815 area, and despite having set a fresh 4-day high at 1.0817 in recent trade helped by the rise in commodities and stocks, AUD/USD has been unable to extend gains above that figure after several attempts this week.

AUD/USD is currently trading near the top of the range, at 1.0815, little changed on the day after an early dip toward the 1.0735 zone. Next resistance levels might be encountered at 1.0815/20, 1.0850 and 1.0880, while immediate supports could be found at 1.0770, 1.0735/30 and 1.0690.

[xchrom]

98. Budget ignores SA farmers - Xenophon

http://www.news.com.au/breaking-news/budget-ignores-sa-farmers-xenophon/story-e6frfku0-1226053615373

SOUTH Australian irrigators have been "completely dudded" in the federal budget, independent Senator Nick Xenophon says.

Senator Xenophon said SA farmers, who took the initiative to invest in making their farms water efficient, had been penalised for their early action.

Irrigators in the eastern states would get the lion's share of the $5.9 billion allocated under the Water for the Future program to make their farms water efficient, he said.

Under the Water for the Future scheme, Australian farmers can access funds to upgrade water efficiency infrastructure and get to keep half of the water savings.

Read more: http://www.news.com.au/breaking-news/budget-ignores-sa-farmers-xenophon/story-e6frfku0-1226053615373#ixzz1LxyCcpZC

[xchrom]

99. Federal Budget will be easier on disabilities but harder on the unemployed

http://www.news.com.au/money/federal-budget/getting-a-job-is-good-for-you/story-fn84fgcm-1226052919045

PEOPLE claiming a disability pension will be allowed to work up to 30 hours a week and still receive part of their welfare payments in a bid to get more people back in the workforce.

But those assessed to be capable of work will also face tougher rules on eligibility and a crackdown on rorting.

The Herald Sun understand the changes to the Disability Support Pension will be in tonight's federal Budget along with tougher Work for the Dole requirements for long-term unemployed and a push to get teenage parents back to school.

The welfare shake-up will include strict requirements for new claims under the DSP including mandatory quarterly participation interviews.

Read more: http://www.news.com.au/money/federal-budget/getting-a-job-is-good-for-you/story-fn84fgcm-1226052919045#ixzz1LxyhDW1i

[xchrom]

105. Major bank slide leads market down at close

http://www.perthnow.com.au/business/aust-shares-higher-in-early-trade/story-e6frg2rl-1226053119801

THE Australian share market closed lower on Tuesday, led downwards by the major banks as investors sat on the sidelines ahead of the Federal Budget on Tuesday.

At the 1615 AEST close, the benchmark S&P/ASX200 index was 31 points, or 0.65 per cent, lower at 4,725.8 points, while the broader All Ordinaries index fell 28.1 points, or 0.58 per cent, to 4,803.6 points.

On the ASX 24, the June share price index futures contract was down 46 points at 4,718 points, with 34,669 contracts traded, according to preliminary calculations.

``I think pre-budget conservatism is an influence,'' CMC Markets chief market analyst Ric Spooner said.

[Name removed]

110. Deleted message

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

[AnneD]

115. All I can say is...

:wtf: Get off my lawn.

[xchrom]

121. um -- er -- no. nt

[Festivito]

116. Debt: 05/05/2011 14,321,667,187,751.50 (DOWN 12,146,302,884.49) (Thu, DOWN a lot.)

(OVER the old debt limit of 14.294-trillion dollars by 28-billion dollars. Good day.)
They dropped hydralic fluid at work and now I cannot park in my work garage.
(Debt under Obama seems to jump up big then drop slowly maybe up a little and down a little for days--repeat.)
= Held by the Public + Intragovernmental(FICA)
= 9,680,662,997,068.88 + 4,641,004,190,682.67
DOWN 17,721,236,989.45 + UP 5,574,934,104.96

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 312-Million person America.
If every American, man, woman and child puts in $3.21 THAT'S 1B$, and $3,205.73 makes 1T$.
A family of three: Mom, Dad, Child: $9.62, ABOUT TEN BUCKS for a 1B$ federal program.
I hope that is clear. However, I'd suggest using $3 per 1B$ to underestimate it.
Use $4 per 1B$ to overestimate the cost when thinking: Is the federal program worth it?
Aid to Dependant Children: 2B$/yr =$8/yr(a movie a year) Family of 3: $24/yr(an hour of bowling)

PERSONALIZED DEBT:
Every 12 seconds we net gain another American, so at the end of the workday of the report, there should be 311,940,992 people in America.
http://www.census.gov/population/www/popclockus.html ON 10/04/2010 04:37 -> 310,403,677
Currently, each of these Americans owe $45,911.46.
A family of three owes $137,734.39. (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 2,705,578,402.44.
The average for the last 30 days would be 1,984,090,828.45.

There were 252 reports in 365 days of FY2007 averaging 1.99B$ per report, 1.37B$/day.
There were 253 reports in 366 days of FY2008 averaging 4.02B$ per report, 2.78B$/day.
There were 75 reports in 112 days of GWB's part of FY2009 averaging 8.03B$ per report, 5.38B$/day.
There were 174 reports in 253 days of Obama's part of FY2009 averaging 7.33B$ per report, 5.07B$/day so far.
There were 249 reports in 365 days of FY2009 averaging 7.57B$ per report, 5.16B$/day.
There were 251 reports in 365 days of FY2010 averaging 6.58B$ per report, 4.53B$/day.
There were 148 reports in 217 days of FY2011 averaging 5.14B$ per report, 3.50B$/day.
Above line should be okay

PROJECTION:
There are 626 days remaining in this Obama 1st term.
By that time the debt could be between 15.2 and 17.6T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
05/05/2011 14,321,667,187,751.55 BHO (UP 3,694,790,138,838.47 so far since Obama took office.)

FISCAL YEAR DEBT CHANGE, Sep 30 prior year to Sep 30 named year:
(One "* " for each 40B$ reached)
FY1994 +0,281,261,026,873.94 ------------* * * * * * * WJC
FY1995 +0,281,232,990,696.07 ------------* * * * * * * WJC
FY1996 +0,250,828,038,426.34 ------------* * * * * * WJC
FY1997 +0,188,335,072,261.61 ------------* * * * WJC
FY1998 +0,113,046,997,500.28 ------------* * WJC
FY1999 +0,130,077,892,735.81 ------------* * * WJC
FY2000 +0,017,907,308,253.43 ------------WJC
FY2001 +0,133,285,202,313.20 ------------* * * C&B
01-WJC +0,053,598,528,417.78 ------------* WJC 31% of FY, 40% of FY-Debt
01-GWB +0,079,686,673,895.42 ------------* GWB 69% of FY, 60% of FY-Debt
FY2002 +0,420,772,553,397.10 ------------* * * * * * * * * * GWB
FY2003 +0,554,995,097,146.46 ------------* * * * * * * * * * * * * GWB
FY2004 +0,595,821,633,586.70 ------------* * * * * * * * * * * * * * GWB
FY2005 +0,553,656,965,393.18 ------------* * * * * * * * * * * * * GWB
FY2006 +0,574,264,237,491.73 ------------* * * * * * * * * * * * * * GWB
FY2007 +0,500,679,473,047.25 ------------* * * * * * * * * * * * GWB
FY2008 +1,017,071,524,649.92 ------------* * * * * * * * * * * * * * * * * * * * * * * * * GWB
FY2009 +1,885,104,106,599.30 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * B&O
09GWB +0,602,152,152,000.60 ------------* * * * * * * * * * * * * * * GWB 31% of FY, 32% of FY-Debt
09-BHO +1,282,951,954,598.70 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO 69% of FY, 68% of FY-Debt
FY2010 +1,651,794,027,380.00 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
FY2011 +0,760,044,156,859.80 ------------* * * * * * * * * * * * * * * * * * * BHO
Endof11 +1,278,415,286,884.00 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
04/15/2011 +021,566,615,397.70 ------------**********
04/18/2011 +000,320,133,441.47 ------------******** Mon
04/19/2011 +000,498,845,624.51 ------------********
04/20/2011 +000,031,154,878.79 ------------*******
04/21/2011 -029,604,944,039.31 -
04/22/2011 +000,169,463,975.78 ------------********
04/25/2011 +000,297,069,525.13 ------------******** Mon
04/26/2011 +000,207,526,568.97 ------------********
04/27/2011 -002,332,483,455.54 --
04/28/2011 -007,710,203,842.40 --
04/29/2011 +013,870,888,452.00 ------------**********
05/02/2011 +043,070,259,587.79 ------------********** Mon
05/03/2011 +000,283,435,714.90 ------------********
05/04/2011 +000,080,372,925.23 ------------*******
05/05/2011 -017,721,236,989.45 -

23,026,897,765.57 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
http://www.usdebtclock.org/
DUer primer on National debt

(Debt to the penny keeps changing. Stuff is missing. Best to keep our own history.) LAST REPORT:
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4841587&mesg_id=4842314

[Festivito]

118. Debt: 05/06/2011 14,322,686,905,560.01 (UP 1,019,717,808.46) (Fri, UP a little.)

(OVER the old debt limit of 14.294-trillion dollars by 29-billion dollars. Good day.)
Foolish me. I was posting the text inside the text function which lost pennies on debt to the penny.
(Debt under Obama seems to jump up big then drop slowly maybe up a little and down a little for days--repeat.)
= Held by the Public + Intragovernmental(FICA)
= 9,680,750,181,123.70 + 4,641,936,724,436.31
UP 87,184,054.82 + UP 932,533,753.64

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 312-Million person America.
If every American, man, woman and child puts in $3.21 THAT'S 1B$, and $3,205.66 makes 1T$.
A family of three: Mom, Dad, Child: $9.62, ABOUT TEN BUCKS for a 1B$ federal program.
I hope that is clear. However, I'd suggest using $3 per 1B$ to underestimate it.
Use $4 per 1B$ to overestimate the cost when thinking: Is the federal program worth it?
Aid to Dependant Children: 2B$/yr =$8/yr(a movie a year) Family of 3: $24/yr(an hour of bowling)

PERSONALIZED DEBT:
Every 12 seconds we net gain another American, so at the end of the workday of the report, there should be 311,948,192 people in America.
http://www.census.gov/population/www/popclockus.html ON 10/04/2010 04:37 -> 310,403,677
Currently, each of these Americans owe $45,913.67.
A family of three owes $137,741.02. (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 2,860,223,576.38.
The average for the last 30 days would be 2,097,497,289.35.

There were 252 reports in 365 days of FY2007 averaging 1.99B$ per report, 1.37B$/day.
There were 253 reports in 366 days of FY2008 averaging 4.02B$ per report, 2.78B$/day.
There were 75 reports in 112 days of GWB's part of FY2009 averaging 8.03B$ per report, 5.38B$/day.
There were 174 reports in 253 days of Obama's part of FY2009 averaging 7.33B$ per report, 5.07B$/day so far.
There were 249 reports in 365 days of FY2009 averaging 7.57B$ per report, 5.16B$/day.
There were 251 reports in 365 days of FY2010 averaging 6.58B$ per report, 4.53B$/day.
There were 149 reports in 218 days of FY2011 averaging 5.11B$ per report, 3.49B$/day.
Above line should be okay

PROJECTION:
There are 625 days remaining in this Obama 1st term.
By that time the debt could be between 15.2 and 17.6T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
05/06/2011 14,322,686,905,560.01 BHO (UP 3,695,809,856,646.93 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 +1,651,794,027,380.00 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
FY2011 +0,761,063,874,668.30 ------------* * * * * * * * * * * * * * * * * * * BHO
Endof11 +1,274,258,322,265.73 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
04/18/2011 +000,320,133,441.47 ------------******** Mon
04/19/2011 +000,498,845,624.51 ------------********
04/20/2011 +000,031,154,878.79 ------------*******
04/21/2011 -029,604,944,039.31 -
04/22/2011 +000,169,463,975.78 ------------********
04/25/2011 +000,297,069,525.13 ------------******** Mon
04/26/2011 +000,207,526,568.97 ------------********
04/27/2011 -002,332,483,455.54 --
04/28/2011 -007,710,203,842.40 --
04/29/2011 +013,870,888,452.00 ------------**********
05/02/2011 +043,070,259,587.79 ------------********** Mon
05/03/2011 +000,283,435,714.90 ------------********
05/04/2011 +000,080,372,925.23 ------------*******
05/05/2011 -017,721,236,989.45 -
05/06/2011 +000,087,184,054.82 ------------*******

1,547,466,422.69 Total of 15 above reports.

Heavy borrowing seems to start after 09/18/2008 while Bush was in power JUST BEFORE fiscal year end.
Bush admin borrowed $962,245,245,654.01 in those last 124 days in office crossing two fiscal years.
$360,093,093,653.42 in last 12 days of FY2008, and $602,152,152,000.59 in subsequent 112 days before leaving office.

For a prettier and more explanatory view of our nation's debt:
http://www.brillig.com/debt_clock
http://www.usdebtclock.org/
DUer primer on National debt

(Debt to the penny keeps changing. Stuff is missing. Best to keep our own history.) LAST REPORT:
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4845684&mesg_id=4846237