Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

STOCK MARKET WATCH, Monday, November 28, 2011

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
Home » Discuss » Latest Breaking News Donate to DU
 
Pale Blue Dot Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 06:06 AM
Original message
STOCK MARKET WATCH, Monday, November 28, 2011
Source: du

STOCK MARKET WATCH, Monday November 28, 2011

AT THE CLOSING BELL ON November 25, 2011

Dow 11,231.78 -25.77 (-0.23%)
Nasdaq 2,441.51 -18.57 (-0.76%)
S&P 500 1,158.67 -3.12 (-0.27%)
10-Yr Bond... 2.07 +0.10 (+5.24%)
30-Year Bond 3.03 +0.11 (+3.80%)



Market Conditions During Trading Hours


Euro, Yen, Loonie, Silver and Gold






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

Handy Links - Economic Blogs:

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

Handy Links - Government Issues:

LegitGov    Open Government    Earmark Database    USA spending.gov

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 =
12









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
Refresh | +23 Recommendations Printer Friendly | Permalink | Reply | Top
Pale Blue Dot Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 06:07 AM
Response to Original message
1. Today's Report
Nov 28 10:00 New Home Sales Oct 310K 312K 313K

Read more: http://www.briefing.com/investor/calendars/economic/201...
Printer Friendly | Permalink | Reply | Top
 
Roland99 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 09:30 AM
Response to Reply #1
42. New U.S. home sales at 307,000 rate in October
Printer Friendly | Permalink | Reply | Top
 
Roland99 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 09:30 AM
Response to Reply #1
43. September sales revised down to 303,000 rate
Printer Friendly | Permalink | Reply | Top
 
Pale Blue Dot Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 06:08 AM
Response to Original message
2. Oil rises above $99 in Asia as stock markets gain
BANGKOK Oil prices rose above $99 a barrel Monday in Asia, taking a cue from gains in stock markets after a strong start to the U.S. holiday shopping season.

Benchmark crude for January delivery was up $2.49 to $99.30 a barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 60 cents to settle at $96.77 on Friday.

In London, Brent crude was up $2.13 at $107.99 on the ICE futures exchange.

Oil took its cue from Asian and European stocks, which were mostly higher Monday after record 226 million shoppers visited stores and websites during the four-day U.S. holiday weekend starting on Thanksgiving Day. That was up from 212 million last year, according to early estimates by The National Retail Federation.

http://old.news.yahoo.com/s/ap/oil_prices
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 07:26 AM
Response to Reply #2
20. I paid $3.04 yesterday
I'm going back today with the gas can, just in case they forgot to raise it.
Printer Friendly | Permalink | Reply | Top
 
Juneboarder Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 12:22 PM
Response to Reply #20
51. And I thought my $3.51/gal this morning was a good deal!!
:)
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 01:26 PM
Response to Reply #51
66. You must be in California, Hawaii or Guam
I'm in the 10th year of rust belt depression...and retail is dying here.
Printer Friendly | Permalink | Reply | Top
 
Juneboarder Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 01:43 PM
Response to Reply #66
72. What do you call a waffle all covered in sand???
Sandy Eggo! :)

The mood here is still of the "move along folks, nothing to look at here" mentality.
Printer Friendly | Permalink | Reply | Top
 
AnneD Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 01:49 PM
Response to Reply #51
74. $2.97 here in Houston....
but it should be cheaper because we drill, pump, and refine the stuff here in the state.
Printer Friendly | Permalink | Reply | Top
 
Pale Blue Dot Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 06:10 AM
Response to Original message
3. All better now! U.S. Stock-Index Futures Gain on Europe Optimism, Surge in Holiday Sales
U.S. stock futures rose, signaling the Standard & Poors 500 Index will snap a seven-day decline, after Thanksgiving retail sales climbed to a record and euro- area leaders were said to boost efforts to end the debt crisis.

AT&T Inc. (T) jumped 2.2 percent in Germany after the company was said to prepare an antitrust remedy proposal over its acquisition of Deutsche Telekom AGs U.S. unit. Alcoa Inc. (AA) rallied with metal prices. JPMorgan Chase & Co. (JPM) advanced, tracking European banking shares.

S&P 500 futures expiring in December advanced 2.8 percent to 1,185.6 at 10:42 a.m. in London. The benchmark equity index has fallen 7.9 percent since Nov. 15, including the worst Thanksgiving-week decline since 1932. Futures on the Dow Jones Industrial Average gained 245 points, or 2.2 percent, to 11,432.

It would be a relief for money managers if we can just move Europe from a negative to a neutral impact on the market, Dan Veru, chief investment officer at Fort Lee, New Jersey-based Palisade Capital Management LLC, which manages $3.4 billion, said in a telephone interview. Theres an underpinning of growth in the U.S. and its picking up steam.

http://www.bloomberg.com/news/2011-11-27/u-s-stock-inde...
Printer Friendly | Permalink | Reply | Top
 
Roland99 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 06:13 AM
Response to Reply #3
5. Europe stocks rise on hopes for debt-crisis action
Printer Friendly | Permalink | Reply | Top
 
xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 06:27 AM
Response to Reply #5
8. Global economic recovery petering out: OECD
http://timesofindia.indiatimes.com/business/internation...

PARIS: The global economic recovery is running out of steam, leaving the euro zone stuck in a mild recession and the United States at risk of following suit, the OECD said on Monday, sharply cutting its forecasts.

The threat of even more devastating downturns looms if the euro zone does not get to grips with its debt crisis and US lawmakers fail to agree a spending-reduction plan, the Organization for Economic Cooperation and Development warned.

In the absence of decisive action from euro zone leaders, the European Central Bank (ECB) alone has the power to contain the bloc's crisis, the Paris-based OECD said. In the United States, however, the Federal Reserve had little ammunition left.

While solid growth in big emerging economies would provide a boost, slumping global trade would drag on Chinese output, the OECD said.
Printer Friendly | Permalink | Reply | Top
 
DemReadingDU Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 07:08 AM
Response to Reply #5
16. DOW futures +244
wow!

Printer Friendly | Permalink | Reply | Top
 
bread_and_roses Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 07:22 AM
Response to Reply #16
19. That's hilarioius ...
ah yes, the world has changed since Friday! Prosperity is "just around the corner!" Party like it's 1999!
Printer Friendly | Permalink | Reply | Top
 
CoffeeCat Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 02:31 PM
Response to Reply #19
79. I'm glad you said it...
...because I thought it too!

I saw morning CNBC talking heads saying that the DOW was up 200+ points due to
Black Friday sales.

Seriously? Who would buy more stocks based on improved BF sales? And weren't
those "improved" sales compared to the last few years of horrendous lows?

I don't get it. I don't get how investors--a class of people whom you would guess
would be fairly educated--would buy based on preliminary BF numbers.

Sometimes I think the CNBC gabbers just make this up as they go along...who knows?
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 07:28 AM
Response to Reply #3
21. If they think they can stop worrying about Europe
they need their meds. adjusted.
Printer Friendly | Permalink | Reply | Top
 
Po_d Mainiac Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 08:18 AM
Response to Reply #3
36. IIRC, last years record "Black Friday" sales
turned into a "black swan" event.

Printer Friendly | Permalink | Reply | Top
 
DemReadingDU Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 08:26 AM
Response to Reply #36
38. Barry Ritholtz: No, Black Friday Sales Were Not Up 16% (not even 6%)


11/28/11 No, Black Friday Sales Were Not Up 16% (not even 6%)

If its the Monday after Black Friday, then its national hype the fabricated data day! Every year around this time, we get a series of loose reports coincident with Black Friday and the holiday weekend. Each year, they are wildly optimistic. And like clockwork, the media idiotically repeats these trade organizations spin like its gospel. When the data finally comes in, we learn that the early reports were pure hokum, put out by trade groups to create shopping hype. (Yes, the Media ALWAYS screws the pooch big time on this one, with the occasional exception). Lets start with this whopper from an utterly breathless press release from the National Retail Federation:


No, retail sales did not climb 16%. Surveys where people forecast their own future spending are, as we have seen repeatedly in the past, pretty much worthless.

We actually have no idea just yet as to whether, and exactly how much, sales climbed. The data simply is not in yet. The most you can accurately say is according to some foot traffic measurements, more people appeared to be in stores on Black Friday 2011 than in 2010.

Another absurd example: Does any one actually believe nearly one-quarter (24.4%) of Black Friday shoppers were at the stores by midnight on Black Friday? Perhaps the NRF competing with the NAR for title of most ridiculous trade group.


Next up is ShopperTrak, who claimed a 6.6% gain in sales:


What is the basis of that 6.6% gain? ShopperTrak uses equipment installed in stores to measure traffic. But that does not measure changes in window shoppers vs buyers from year to year, how much money and or credit people have, how large their holiday budgets are, or how much they are willing to spend. It is a very poor system for forecasting actual sales.

The fact that NRF and ShopperTrak are so widely disparate confirms for us at least one of their methodologies are suspect. In my opinion, both are mostly meaningless.

Here is my challenge to the CEOs of the National Retail Federation and ShopperTrak: $1,000 to the charity of the winners choice that your forecasts for Black Friday, the Thanksgiving weekend and the entire holiday shopping season are wildly off. I bet you your forecasts miss the mark by at least 10%-20% (though I believe its closer to 40-50%).

more...
http://www.ritholtz.com/blog/2011/11/no-black-friday-sa... /





Printer Friendly | Permalink | Reply | Top
 
kickysnana Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 09:19 AM
Response to Reply #38
40. Local Snewz had been hyping every day ie
Polls say people are going shopping
Polls say people are spending more
Polls say people are optimistic about Christmas
Spending helps the economy
Jobs are plentiful again (not)
Black Friday was a huge success
Cyber Monday will be huge.
Small Business Saturday a great idea.

for at least a month now.
Printer Friendly | Permalink | Reply | Top
 
Po_d Mainiac Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 09:23 AM
Response to Reply #38
41. Ayuh
Foot traffic doesn't mean that the registers were getting blistered.

Again IIRC, last year's big movers, on that fatefull day, were primarily 'loss leaders' which did as advertised. Lead to losses.
Printer Friendly | Permalink | Reply | Top
 
AnneD Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 10:27 AM
Response to Reply #41
46. Foot traffic is good....
because folks are trying to stay warm and looking for cheap entertainment? :shrug:

I got Hubby his under ware and some camping gear. I got some camping gear too. Rotated the food in my pantry and added some more can goods with the Thanksgiving sales. Can't wait for the January canned goods sales. That is where our money is going.

We are cleaning out the RV and are going to sell it soon. We are living in an even cheaper (but bigger) place now and will be saving at least $500 per month by consolidating our living and storage somewhat. We will live in box canyon for a while but believe me, that is not as cramped as the RV has become. This will really help us lessen our debt load and increase our savings.

The neighborhood is a little rough but I have decent neighbors in our building. Hubby and I talked about it and we will be buying a 9mm for personal protection. Ammo is fairly cheap so we will be on the firing range to practice together. We have found a hobby we both can share. Who would have ever thought, a Hindu Indian American and a Methodist Indian American can find common ground on a firing range. :spray:
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 12:20 PM
Response to Reply #46
50. My God! You'd Better Report in Frequently
so we don't have to worry about you. I for one don't need another thing to worry about....
Printer Friendly | Permalink | Reply | Top
 
AnneD Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 01:01 PM
Response to Reply #50
55. Weekend access to the internet is a bit spotty....
and we worked like dogs this long weekend. We am trying to to get as much done so we can have the Christmas break off. We want to visit my brother for an extended time. It will be a red neck kinda Christmas. We will deck the doors with mistletoe that we have shot down from the trees and make luminaries out of the target tin cans. :rofl:

I visited a friend's mom that ended up in the hospital over the holidays. This was my friend that lost her husband in October. We did a tag team visitation so she was not by herself for too long and everyone could have a Thanksgiving dinner. It worked out well.

Another of my friend is going to India for a spell, so I went to have a visit with her before she left. She is a singer that tours with hubby. Her hubby is the tabla player and she has known my hubby since the 70's. Hubby is staying here.

Don't mean to worry you and heaven knows you already have a full plate. I will try to drop in as much as I can and make suggestions when I think of something worthy.
Printer Friendly | Permalink | Reply | Top
 
happyslug Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 01:14 PM
Original message
There are problems using a Pistol for self defense
Most of the problem involved the "Two Second Rule". The "Two Second Rule" comes from the fact it takes at least two seconds for you to see something and to react to it. For example if you have someone in your sights and tell him to drop his pistol, he will have pulled his pistol and killed you, before you can react to his pulling his gun and shooting. Furthermore a pistol requires some distance from any attacker, at least a couple of feet away from you, but also that the attacker be within range, generally 25 feet. The reason for this is if the attacker charges, he or she will have to on the ground before you can pull the trigger.

Do to the "Two Second Rule", the better weapon is a Shotgun or Rifle. Mostly do to both can be fired AND hit a target at longer range (And within three feet can be used as a club). In a home I recommend a short barrel (at least minimum legal barrel length of 18 inches). One of the best is an old fashioned double barrel shotgun. Do to its design it can be 3-4 inches shorter then any pump and yet be within legal limits of 18 inch barrel, 26 inches overall. Given that the average shoot out is two bullets, a double barrel is good enough.

Yes, it is a bit of a problem going from you car to your home with a Shotgun or a Rifle (as opposed to a Pistol) but in such situations if you are attacked the chances of you ever being able to pull the pistol in minimal (The best way to handle such situation is to adopt what the Army called "Bounding Over-watch" i.e. one person looks out for the person moving, then the second person moves out while the first person looks. Rifles are the best for this situation since you do NOT want to hit the person you are over-watching.

Just my comments, I have carried pistols in the past, but whenever I look at the situations where I would have pulled it, I would have preferred a rifle, shotgun OR a knife (A knife is best in close in fighting, i.e. within three feet of the attacker). As to knife I do not like the large knives you see at the gun stores, but a short five inch knife like my father used to butcher hogs with (He would shot the hog with a 22 long rifle, then I would pull up a leg so he could then use the knife to cut the hog's jugular). Longer knives are just to big to move around when needed and four to five inches is all you really need.

Pistol have there place, but those places are limited. The first use of Pistols was by Calvarymen who used one hand to carry their saber, the other for the pistol. The second use was as a symbol of rank to replace the Officer's Sword (This had more importance in the days of the US Civil War and before, the enlisted ranks, if they could not follow their officer, followed his sword, and later pistol, which he held over his head).

Police started to carry pistols in the mid 1800s, again mostly as a symbol of importance (rank) then any real effectiveness. These pistols later improved, but then to be pulled when the Officer did not have time to go back and get a Rifle or Shotgun (Thus police liked the 38 special for decades, easy to learn to shoot with minimum training unlike the 45 which required a good bit of constant practice). The 9mm is very similar to the 28 Special and suffers the same problems (Low stopping power) and advantages (easy to learn to shoot).

Today, a pistol is best used where you would normally have carried a Rifle, but for various reasons did not (and you do NOT have time to go back and get a Rifle). To close, the pistol can be manhandled away, to far, hard to hit a target. If someone gets his or her hands on you, it is to close to use a pistol, if the attacker is further away, the better option is a rifle or Shotgun.

Just comments on your choice of weapons.
Printer Friendly | Permalink | Reply | Top
 
AnneD Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 01:35 PM
Response to Original message
70. Two second rule...
what two second rule. We don't need no 2 second rule, we live in Texas! When you say you are packing for a trip, it has a whole other meaning here. :evilgrin:

That will be our starter gun. We intend to get some shotguns too; but to qualify for a concealed weapons permit, you have to have a certain caliber.

Printer Friendly | Permalink | Reply | Top
 
happyslug Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 01:42 PM
Response to Reply #70
71. The "Two Second Rule" is a rule of body physics NOT the law
It takes the nerves about two second to see a person pulling a gun (or otherwise attacking you) process it your brain and react to the gun being pulled. It is the same "Two Second Rule" for following a car, and for the same reason, it takes a person at least two seconds to react to the Automobile in front of them slamming on their brakes, to slam on one's own brakes. If you do NOT give yourself that two seconds, you will hit the car in front when he or she slams down on his or her brakes. The reason is you did NOT give yourself enough TIME to re-act.
Printer Friendly | Permalink | Reply | Top
 
AnneD Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 02:08 PM
Response to Reply #71
77. Yes...
there is a reaction time. The trick is to be aware. Both times I was mugged, I knew in advance there was a chance that it might happen and was able to take measures to limit the damage (put the house keys in my pocket, valuables left in the car, etc). I know now that I have a very good instincts, a keen awareness of my surroundings and I will totally avoid the situation if I even suspect a danger.

Believe you me, if I have to draw my pistol, I will not be surprised, but the said criminal might be.

Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 01:44 PM
Response to Original message
73. Thank you for the lesson
I am a militant pacifist, myself. Currently, unarmed and untrained, but if the need changes, I will heed your advice.
Printer Friendly | Permalink | Reply | Top
 
Tansy_Gold Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 03:25 PM
Response to Reply #73
82. MP here also, Demeter
We have a shotgun which came in handy when we had the rattler on the back porch, but that's the extent of it.

I don't do guns.

I.
Don't.
Do.
Guns.

I just plain don't.

Printer Friendly | Permalink | Reply | Top
 
DemReadingDU Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 07:54 PM
Response to Reply #82
96. Doggies
I have my 2 dogs that bank loudly at anything suspicious. Maybe another dog or 2, for extra noise.
:evilgrin:

Printer Friendly | Permalink | Reply | Top
 
Tansy_Gold Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 08:28 PM
Response to Reply #96
98. I have four already!
It was a very scary and very expensive I.T.Y.S. moment.

The dogs were outside, one of them tied up because she would go over the fence and disappear otherwise, and the BF absolutely refused to leave them all in the house while we were gone, even for the 2 hours or so in the morning when we go to our preferred coffeeshops. I returned home before he did, and all four dogs were barking hysterically, which they rarely do. When I discovered they were barking at the snake, I got them into the house and called the BF, who came home and dispatched the snake. But one of the dogs, streetwise "mom" Mattie, had been bitten on the nose. The emergency vet bill was steep, but she's still with us, still playing "mom" to the other three fools, and still vociferously warning us whenever the safety of the yard is threatened by vicious hordes of marauding bunnies.




The dogs now stay safely inside when we leave.
Printer Friendly | Permalink | Reply | Top
 
AnneD Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-29-11 08:09 AM
Response to Reply #96
99. I have used dogs for years....
In lieu of a weapon. I once had a shepard that was my traveling companion when I was in college. I never worried, she was very protective. I know she saved my live once. I walked on some guys that I suspect were doing a drug deal. She was on the leash but I had never seen her carry on so. In hind sight, I think they might have killed me or done worse because they broke up awfully fast when she carried on so.

In fact I offered to pay the pet deposit for my daughter's dog while she is in college-she has a sweet pit bull mix. I transported it to Ca. several years ago. the dog is a dear and harmless as a fly, unless someone approaches her wrong. And I trust her judgemant!
Printer Friendly | Permalink | Reply | Top
 
happyslug Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 01:14 PM
Response to Reply #46
58. Duplicate post
Edited on Mon Nov-28-11 01:43 PM by happyslug
No Text (N/T)
Printer Friendly | Permalink | Reply | Top
 
xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 06:12 AM
Response to Original message
4. good morning -- i hope every one had a good holiday weekend?
:donut:
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 07:32 AM
Response to Reply #4
24. Good morning, x. I'm barely alive
The party was a great success, everyone says...based on the pain I'm in, it had better have been.

Because we had cold drizzle all day, not everyone showed up (I think) so many went home with care packages, as there was too much turkey left at the end.

At least, it's over. I did some housework, too. And enormous Sunday papers, of course.

It was supposed to freeze last night, but based on the puddles in the street, it didn't get that cold, thank goodness, or it would be a skating rink out there, which is where I'm heading in an hour...
Printer Friendly | Permalink | Reply | Top
 
xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 07:36 AM
Response to Reply #24
26. i was wondering how things went.
well -- sorry about the soreness -- that's always a drag.

i'm glad it didn't freeze for you.

take care out there :hi:
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 08:16 AM
Response to Reply #26
34. Thanks, Same to You!
It should prove an interesting week. I doubt we will get any reliable numbers on Black Friday before January Clearance sales....
Printer Friendly | Permalink | Reply | Top
 
Tansy_Gold Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 09:50 AM
Response to Reply #4
44. Final pre-Christmas art show Sunday
Edited on Mon Nov-28-11 09:51 AM by Tansy_Gold
Mediocre sales all around, though a few artists had big individual item sales. Pretty much as expected: Most reported lower sales, and more sales of low-ticket, low-profit items.

I did okay. Not great but okay, and my low-ticket items are high-profit.

Glorious weather -- like 80 or so yesterday -- probably had many shoppers out on the golf course.

Today I start stocking the etsy site.

As soon as I go out and get some coffee.




(stupid typo)



Printer Friendly | Permalink | Reply | Top
 
xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 11:00 AM
Response to Reply #44
48. thanks for letting us know.
sometimes i think really nice weather is as big a deterrent to shopping as bad weather is.
Printer Friendly | Permalink | Reply | Top
 
AnneD Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 01:10 PM
Response to Reply #44
56. Your things are so pretty.....
I wish you had done better. My older brother makes the bulk of his living in three months (the summer). Thank God he is a good hunter in the event of bad times. He is about as self sufficient as the younger brother. I am self sufficient in other ways but I guess it must be that stubborn Indian gene. :evilgrin:
Printer Friendly | Permalink | Reply | Top
 
Tansy_Gold Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 03:28 PM
Response to Reply #56
83. Thank you!
I just added two more pieces to my etsy shop.

If I didn't have the day job, I would spend that time on my various crafts and could conceivably be self-sufficient. It's a real catch-22, because I still need the income from the day job and can't quite replace it with income from the crafts. But I'm working on it.

In fact, the day job calls and I'd better get back to it. Ick.
Printer Friendly | Permalink | Reply | Top
 
xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 06:14 AM
Response to Original message
6. south asia: Sensex rallies 472 points on global cues; regains 16K level
http://timesofindia.indiatimes.com/business/india-busin...

MUMBAI: The Bombay Stock Exchange benchmark Sensex on Monday rallied 472 points to regain the crucial 16,000 mark after a week amid firm global markets and investor hopes of more economic reforms following the government move to allow FDI in multi-brand retail.

The Sensex, which touched two-year low last week under tremendous selling pressure, spurted 471.70 points, or 3.01 per cent to 16,167.13. The gauge had fallen below 16,000 level on November 21.

On similar lines, the broad-based National Stock Exchange index Nifty shot up 141.25 or 3 per cent to 4,851.30 led by blue-chips like Reliance Industries, Infosys, Tata Motors, Tata Steel and Tata Consultancy Services.

Brokers said that despite political opposition to the move, government's decision to open up the retail sector to greater FDI inflows, particularly 51 per cent holding in multi-brand retail has raised hopes that more such reforms could follow.
Printer Friendly | Permalink | Reply | Top
 
xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 06:25 AM
Response to Reply #6
7. FDI in retail: Global retailers in wait and watch mode
http://timesofindia.indiatimes.com/business/india-busin...

NEW DELHI: Global retail giants, including IKEA, Walmart and Carrefour, are studying the finer details of India's relaxed FDI norms for the sector as they look to tap opportunities in the country.

In the meantime, while closely watching developments post the changes, these firms are staying focussed on their current operations in India that includes sourcing in case of Ikea, and cash and carry businesses for Walmart and Carrefour.

Welcoming the government's move to allow 100 per cent foreign direct investment (FDI) in single brand retail, IKEA said: "We will now over the next few days look into the details of the decision and we expect to present more information shortly about our intention to establish retail operations."

India is since long a strong and growing purchase market for IKEA, the Scandinavian furniture retailer said in an e- mailed statement to PTI.




*** i would have said 'Stalk & Pounce' mode.
Printer Friendly | Permalink | Reply | Top
 
xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 06:42 AM
Response to Reply #6
13. Gold, silver surge on seasonal demand, firm global trend
http://timesofindia.indiatimes.com/business/india-busin...

NEW DELHI, Both the precious metals, gold and silver kick started the week on a positive note today, on brisk buying by stockists and jewellers for the ongoing marriage season amid a firming global trend.

While gold surged by Rs 240 to Rs 29,180 per 10 grams, silver rose by Rs 700 to Rs 55,900 per kg on pick-up in demand from jewellers and industrial units.

The trading sentiment turned bullish on heavy buying by retail customers for the ongoing marriage season and stockists creating fresh positions to meet the demand from jewellers.

The firming trend was further supported, as gold gained in Asia on report that the International Monetary Fund preparing a loan for Italy strengthened the euro against the dollar.
Printer Friendly | Permalink | Reply | Top
 
xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 06:30 AM
Response to Original message
9. europe: International Monetary Fund denies Italy loan talks
http://www.bbc.co.uk/news/business-15915629

The International Monetary Fund (IMF) has denied it is in talks with Italy about a new bailout loan.

It follows reports in Italy's La Stampa newspaper over the weekend that the IMF was preparing a 600bn euro ($794bn; 515bn) loan.

Despite the news, European markets opened up strongly on hopes that Italy may be thrown a lifeline.

However, ratings agency Moody's has warned that the crisis threatens the credit rating of all eurozone members.

Printer Friendly | Permalink | Reply | Top
 
xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 06:32 AM
Response to Reply #9
10. China eyes UK infrastructure investment to boost growth
http://www.bbc.co.uk/news/business-15914102

China Investment Corporation (CIC), is keen to invest in infrastructure development in the UK and other developed countries.

Lou Jiwei, the head of CIC, wrote in the Financial Times that the fund was looking to participate in public-private-partnerships in the UK.

The British government has been seeking to upgrade infrastructure in a bid to boost growth.

CIC is China's main sovereign wealth fund.
Printer Friendly | Permalink | Reply | Top
 
xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 06:33 AM
Response to Reply #9
11. UK economy forecast cut by BCC for fourth time
http://www.bbc.co.uk/news/business-15915104

The British Chambers of Commerce (BCC) has cut its forecast for UK economic growth for the fourth time this year.

It is now forecasting growth of 0.9% this year and 0.8% in 2012, and said growth will be "very weak" for the next two to three quarters.

Only two months ago, the business lobby group had expected growth as high as 1.1% for 2011 and 2.1% next year.

The BCC blamed the slowdown in part on the government's austerity measures, as well as the crisis in the eurozone.
Printer Friendly | Permalink | Reply | Top
 
xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 06:40 AM
Response to Reply #9
12. Germany heading for isolation over European Central Bank euro rescue role
http://timesofindia.indiatimes.com/business/internation...

BRUSSELS: Germany faces mounting pressure to let the European Central Bank (ECB) save the euro, as France fretted on reports of IMF contingency bailout planning for a re-modelled Italy.

With bond market vultures circling even gold-plated economies and Italy's La Stampa daily citing IMF officials on a rescue plan worth up to 600 billion euros, another of Germany's closest allies broke ranks, leaving Berlin isolated.

Amid predictions that the common currency faces its death throes within weeks failing radical intervention, Austria joined Finland in backing ECB action to stem the financial market contagion threatening Italy, Spain and even France.

The pressure has intensified since Germany itself struggled to raise public finance on commercial money markets last week.
Printer Friendly | Permalink | Reply | Top
 
xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 06:44 AM
Response to Reply #9
14.  The crash that has rocked Lithuania
http://www.presseurop.eu/en/content/news-brief-cover/12...

Gamblers or victims? wonders the front-page of Vieidas, commenting on the two principle shareholders of Snoras, Lithuanian Raimondas Baranauskas and Russian Vladimir Antonov, the millionaire owner of Portsmouth FC in the UK. Both men were arrested in London on 24 November, following the issuing of an arrest warrant by Lithuanian authorities investigating the collapse of Snoras, which was the countrys fifth largest bank.

The pair, who are suspected of siphoning off 3.4 billion litai (close to a billion euros) from the bank and 100 million lats (close to 144 million euros) from its subsidiary Latvijas Krajbanka, Latvias sixth largest bank, could face ten years in prison. Snoras, which was nationalised a first in the history of post-Soviet Lithuania, points out Vieidas on 16 November following the discovery of huge discrepancies in its books, has now filed for bankruptcy.

The magazine reports that the procedure is contested by representatives of customers of the bank, who claim that it is neither transparent, or fair, or rational. Latvia has also opened an inquiry into Krajbanka and suspended its license to operate in the run-up to a probable liquidation. Both announcements prompted panic among Snoras and Krajbanka customers who have rushed to branches to withdraw their savings.
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 07:34 AM
Response to Reply #14
25. If other nations can arrest banksters
why can't Eric Holder?
Printer Friendly | Permalink | Reply | Top
 
xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 07:37 AM
Response to Reply #25
27. it's a wonder, isn't it? nt
Printer Friendly | Permalink | Reply | Top
 
Turbineguy Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 07:41 AM
Response to Reply #25
29. Because in the US
the Bankers went to the extra step of first making theft legal.
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 08:17 AM
Response to Reply #29
35. It's STILL not legal--they just bought up the courts and the regulators
Printer Friendly | Permalink | Reply | Top
 
Hotler Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 10:35 AM
Response to Reply #25
47. Because the financial crisis of 2008 was....
the crime of the century and if the American people new the truth all hell would break loose. Even the Teabaggers would get pissed off. The corruption and fraud runs far and deep. From the top offices on Wall St. to the highest offices in our government. Either everybody is getting a piece of the action (cash) or the PTB have a way to dirty-up or find dirty on anyone (scandal) or, the PTB are past payola and scandal and have moved right to telling people that they will have them and/or their families killed.
Printer Friendly | Permalink | Reply | Top
 
xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 07:07 AM
Response to Reply #9
15. Retailers facing gloomy Christmas
http://www.independent.co.uk/news/business/news/retaile...

The outlook for retailers in the run up to Christmas is looking increasingly gloomy as a key survey today revealed the sector cut jobs at the fastest rate in two years amid falling sales.

Employment in the retail sector, which makes up 11% of the UK economy, fell at the fastest rate since November 2009 as more businesses surveyed by the CBI said they had reduced staff levels than those who had bumped up numbers.

The job cuts came as high street sales volumes fell for the sixth month in a row at the fastest rate in 20 months, the CBI said, with the decline driven by grocers, department stores and clothing retailers.
Printer Friendly | Permalink | Reply | Top
 
AnneD Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 01:17 PM
Response to Reply #15
61. So...
"You Won't Be Served"!
Printer Friendly | Permalink | Reply | Top
 
xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 08:03 AM
Response to Reply #9
30. Pensioner expats continue to leave the UK and more claim the Winter Fuel Payment
http://www.typicallyspanish.com/news/publish/article_32...

More ex pats are claiming the Winter Fuel Payment benefit from the U.K.
The number of claimants is up 52% over the past five years and now stands at about 73,000. The estimated cost to the UK Government is 15.6 million pounds.

About half of those to claim, nearly 34,000 are living in Spain, followed by 17,815 in France, 6,819 in Ireland and 5,300 on Cyprus. The rest to claim live in Germany, Greece, Italy, Portugal and Malta, leading some member of the UK public to consider such claims as fraudulent as they believe at least the winter temperatures in the Mediterranean dont justify it. The tax free one off payment can amount to 300 pounds each winter.

Those claiming have to be born before 1951 but the first claim must have been made back in the UK. The website www.direct.gov.uk warned that you cant get a payment once you have moved to another EU country or Switzerland and didnt qualify before you moved.

A UK Taxpayers Alliance spokesperson, Emma Boon, said the increased number of claims from Europe was shocking and yet more evidence we need to reform the welfare system, so that money goes to those who really need it, not to well off expats living on the Costa del Sol.

Read more: http://www.typicallyspanish.com/news/publish/article_32...
Printer Friendly | Permalink | Reply | Top
 
AnneD Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 09:55 AM
Response to Reply #30
45. Look for this as a new way ....
for people here in the US being kicked off the SS system. Just like they kick teachers out of the SS system with the OWL and WEN acts. If you have a certain type of pension, you can't even get survivor's benefits under SS.
Printer Friendly | Permalink | Reply | Top
 
xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 08:07 AM
Response to Reply #9
31.  Regions to shore up finances with drastic 2012 budget cuts
http://www.elpais.com/articulo/english/Regions/to/shore...

Faced with growing pressure from Madrid to reduce their deficits, regional governments are planning significant cutbacks in public works investment for 2012. Twelve out of the 17 semi-autonomous regions that make up Spain have drafted or finalized their budgets, and these show an average 14-percent cut in public money for infrastructure, or 1.7 billion euros less than this year.

The decision represents a new setback for one of the main engines of job creation in a country with nearly 21 percent of its workforce sitting idle. But the central government wants to ensure that the country meets the overall deficit target set by the EU of three percent of GDP by 2013.

Few regional governments have dared to make cuts in social spending, and even fewer to raise taxes, with the exceptions so far of Andalusia and Aragon. Other parts of the country like Catalonia are experimenting with alternative formulas such as higher rates for water consumption and public transportation, steeper college fees, and a co-payment model for prescriptions obtained through the public health system.
Printer Friendly | Permalink | Reply | Top
 
xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 08:09 AM
Response to Reply #9
32. Plan to tap pension cash to help ailing economy
http://uk.reuters.com/article/2011/11/28/uk-britain-eco...

(Reuters) - The government unveiled plans on Monday to tap pension funds for the lion's share of an investment of up to 30 billion pounds in big building projects to help to revitalise a stagnant economy forecast to slip back into recession next year.

The measures are the latest in a drip feed of government announcements ahead of Chancellor George Osborne's autumn statement on Tuesday when growth forecasts will be cut as the euro zone crisis bites.

The OECD forecast on Monday that Britain would suffer a modest recession next year, urging the Bank of England to expand its asset purchase programme designed at shoring up a faltering economy.

Adding to the gloom, retail sales fell at their fastest pace in 2-1/2 years in November, a survey by business lobby the CBI showed.
Printer Friendly | Permalink | Reply | Top
 
xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 07:10 AM
Response to Original message
17. asia: Predictions of an economic collapse in China are in vogue
http://www.latimes.com/business/la-fi-china-bears-20111...

Reporting from Beijing
Not long ago, those who predicted that China's economy was headed for a fall were in a lonely place.

U.S. economist Nouriel Roubini, widely praised for calling the U.S. housing meltdown, was dismissed as a serial contrarian when it came to his pessimistic China views. So was well-known hedge fund manager Jim Chanos. Lawyer and author Gordon Chang was derided as a Chicken Little for his 2006 book "The Coming Collapse of China."

Suddenly they're all Nostradamus.

Backed by data showing a slowdown in the world's second-largest economy, doomsayers have taken center stage. Unbridled optimism has given way to fears over widening cracks in the Chinese economic miracle.
Printer Friendly | Permalink | Reply | Top
 
xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 07:13 AM
Response to Reply #17
18. Chinese factories hit by strikes amid manufacturing slowdown
http://latimesblogs.latimes.com/money_co/2011/11/chines...

Already facing a sharp slowdown, factories in Chinas manufacturing heartland are now experiencing a rash of labor strikes reminiscent of the worker unrest that swept the country last year.

Thousands of workers at a massive shoe factory in the southern city of Dongguan marched to a local government office and clashed with police last week to protest the loss of overtime.

The strike at the plant owned by the Taiwanese Pou Chen Group came shortly after 18 managers were laid-off because of declining orders, according to the Economic Observer, a Chinese newspaper.

Earlier in the week, 1,000 workers walked out of a plant in nearby Shenzhen that manufactured computer keyboards for leading brands such as Apple and IBM. Employees said they were being forced to work excessive hours on weekdays so that owners didnt have to pay overtime on Saturdays, as required by law. The company acquiesced after three days.
Printer Friendly | Permalink | Reply | Top
 
Hotler Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 11:17 AM
Response to Reply #18
49. Uppity Chinese workers.
shut up, get back to work and be thankful you have a fucking job. We go out of our way to give them our jobs and they have the gall to turn around and bitch. :evilgrin:
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 12:25 PM
Response to Reply #49
52. Proving once again that Workers are Fast Learners
and Management is dreaming if they think they can stop it.

It wasn't called Communist China just for insult, you know. The Chinese studied Marx and Lenin and all that. Stupid Capitalists.
Printer Friendly | Permalink | Reply | Top
 
xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 08:52 AM
Response to Reply #17
39. Nikkei climbs on US holiday sales, Italy aid hopes
http://uk.reuters.com/article/2011/11/28/markets-japan-...

TOKYO, Nov 28 - The Nikkei stock average on Monday rebounded from a 2-1/2 year low hit last week as strong U.S. retail sales over the Thanksgiving weekend and a report that the IMF was considering support for Italy sparked short-covering.

Market players bought back battered shares such as Nomura Securities, shippers and steelmakers, though many participants noted it was premature to count on clear progress in measures to resolve Europe's debt crisis.

"Talk of support for Italy and reports of strong U.S. holiday sales were supporting the market. But we're by no means in a situation where we can become very positive about a recovery in share prices," said Kazuhiro Takahashi, general manager at Daiwa Securities.

The Nikkei rose 1.6 percent to 8,287.49, moving away from a 2-1/2 year low hit last week and marking its first gain in six sessions. The broader Topix index gained 1.3 percent to 715.70.

Printer Friendly | Permalink | Reply | Top
 
CoffeeCat Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 02:39 PM
Response to Reply #39
80. Are people stupid?
So this is global stupidity?

I always thought that the markets moved on reality-based information.

Seriously--the world is booming because Black Friday sales improved over recent years in which
sales were in the toilet?

Never mind that Europe is cratering, unemployment in the US is worsening and consumer confidence
is down--just focus on improved sales from ONE DAY.

Furthermore, the reason for improved sales could be that desperate people are looking for rock-bottom
deals because that is all they can afford.

I'm seriously wondering today--if the entire world has gone mad.
Printer Friendly | Permalink | Reply | Top
 
Ghost Dog Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 04:38 PM
Response to Reply #80
86. Markets haven't been very reality-based for quite some time now,
as DU SMW regulars will be well aware. As I think you know, Coffeecat.

Hell, they're not even all that psychology-based these days, either. More like the other way round - for now.
Printer Friendly | Permalink | Reply | Top
 
xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 07:28 AM
Response to Original message
22. Zyngas Tough Culture Risks a Talent Drain
http://dealbook.nytimes.com/2011/11/27/zyngas-tough-cul... /

Zyngas chief executive, Mark Pincus, got an earful from employees last month.

In dozens of e-mails to a companywide list, frustrated workers complained about the long hours and stressful deadline periods. The quarterly staff survey solicited 1,600 responses, with plenty of criticism, including one person who said he planned to cash out and leave after the initial public offering.

Mr. Pincus took note, going through the comments and highlighting select excerpts. At a Zynga meeting several days later, he read some of the most acerbic words. Mr. Pincus said he was aware of the problems, but needed the staffs guidance to fix them.

Few Internet start-ups have grown as swiftly as Zynga, creator of a sprawling network of virtual farms, cities and poker tables that is preparing to go public in one of the most highly anticipated offerings this year.
Printer Friendly | Permalink | Reply | Top
 
xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 07:31 AM
Response to Original message
23. Two Wall Street Titans, and a Seven-Year Tiff
http://www.nytimes.com/2011/11/27/business/william-ackm...

In one corner is Carl C. Icahn, the corporate raider who made C.E.O.s tremble back in the 1980s and, at 75, is still chasing deals.

In the other is William A. Ackman, 45, one of Mr. Icahns figurative heirs and a leading practitioner of the bruising, Icahnesque craft politely known as activist investing.

These ultrarich men battled for seven years in multiple courts, over a relatively paltry $4.5 million. That might be real money to mere mortals, but to these two, its barely a rounding error.

So why bother? This battle, it turns out, was more about big egos than big money and it has left both men spitting expletives. The scrape finally ended this month, with Mr. Ackman victorious. But, before it was over, the affair occupied a Whos Who of powerful lawyers and ran up millions of dollars in legal fees, all because of an otherwise forgettable deal the pair cut back in 2004.
Printer Friendly | Permalink | Reply | Top
 
Turbineguy Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 07:39 AM
Response to Original message
28. Republicans Try to Starve Wall Street Watchdog: William D. Cohan
Just when it didnt seem possible for the publics opinion of Congress to get any lower, a bunch of Republican representatives figured out how to push it further down.

No, I am not referring to the unsurprising news that the congressional supercommittee utterly failed in its mission to put the countrys fiscal house back in some semblance of order.

http://www.bloomberg.com/news/2011-11-27/republicans-tr...

What ever republicans can do to fuck ordinary Americans, they will.

Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 08:14 AM
Response to Original message
33. Secret Fed Loans Gave Banks Undisclosed $13B
http://www.bloomberg.com/news/2011-11-28/secret-fed-loa...

The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret...The Fed didnt tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on Dec. 5, 2008, their single neediest day. Bankers didnt mention that they took tens of billions of dollars in emergency loans at the same time they were assuring investors their firms were healthy. And no one calculated until now that banks reaped an estimated $13 billion of income by taking advantage of the Feds below-market rates, Bloomberg Markets magazine reports in its January issue.

Saved by the bailout, bankers lobbied against government regulations, a job made easier by the Fed, which never disclosed the details of the rescue to lawmakers even as Congress doled out more money and debated new rules aimed at preventing the next collapse.

A fresh narrative of the financial crisis of 2007 to 2009 emerges from 29,000 pages of Fed documents obtained under the Freedom of Information Act and central bank records of more than 21,000 transactions. While Fed officials say that almost all of the loans were repaid and there have been no losses, details suggest taxpayers paid a price beyond dollars as the secret funding helped preserve a broken status quo and enabled the biggest banks to grow even bigger.

Change Their Votes

When you see the dollars the banks got, its hard to make the case these were successful institutions, says Sherrod Brown, a Democratic Senator from Ohio who in 2010 introduced an unsuccessful bill to limit bank size. This is an issue that can unite the Tea Party and Occupy Wall Street. There are lawmakers in both parties who would change their votes now.

NEAT INTERACTIVE GRAPHIC AT LINK SHOWS WHO GOT HOW MUCH
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 08:24 AM
Response to Reply #33
37. Deutsche Bank Could Transfer Financial Contagion
http://www.bloomberg.com/news/2011-11-21/johnson-deutsc...

Youve probably never heard of Taunus Corp., but according to the Federal Reserve, its the U.S.s eighth-largest bank holding company. Taunus, it turns out, is the North American subsidiary of Germanys Deutsche Bank AG (DBK), with assets of just over $380 billion.

Deutsche Bank holds a large amount of European government and bank debt; it also has considerable exposure to lingering real estate problems in the U.S. The bank, therefore, could become a conduit for risk between the two economies. But which way is Deutsche Bank more likely to transmit danger -- to or from the U.S.?

By any measure, Deutsche Bank is a giant. Its assets at the end of September totaled 2.28 trillion euros (according to the banks own website), or $3.08 trillion. In the latest ranking from The Banker, which uses 2010 data, Deutsche was the second- largest bank in the world by assets, behind only BNP Paribas SA. The German bank, however, is thinly capitalized. Its total equity at the end of the third quarter was only 51.9 billion euros, implying a leverage ratio (total assets divided by equity) of almost 44. This is up from the second quarter, when leverage was about 36 (assets were 1.849 trillion euros and capital was 51.678 euros.) Even by modern standards, this is very high leverage. JPMorgan Chase & Co. has a balance sheet about 20 percent smaller than Deutsche Banks, but more than twice as much Tier 1 capital, an important indicator of a banks financial strength. Bank of America Corp., whose weakness is a serious worry in the U.S. today, has twice Deutsches capital. (These comparisons use The Bankers ranking of the top 25 banks.)

MORE LOOPHOLES AT LINK

Printer Friendly | Permalink | Reply | Top
 
Hotler Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 12:41 PM
Response to Reply #33
54. FUCKERS! n/t
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 12:28 PM
Response to Original message
53. I Guess 11,500 Is the New 12,000
which for a while was the new 12,500...

So, we lose 500 points every other month or so? At that rate, hyperinflation will catch up with deflation...
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 01:12 PM
Response to Original message
57. Fascinating History of How Corporations Became "People" -- Thanks to Corrupt Courts Working for 1%
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 01:15 PM
Response to Reply #57
59. Looking Beyond Election Day by: Robert Reich
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 01:17 PM
Response to Original message
60. The November 30 Strike: Will Britain Shutdown?
http://uk.ibtimes.com/articles/256042/20111125/november...

On Wednesday, November 30, millions of public sector workers across Britain will walk out of their jobs on what's billed as a "Day of Action".

Triggered by stagnant negotiations over pension reforms, with a backdrop of public sector cuts, unions say they are forced into taking industrial action, to make the government listen to their pleas.

The government says it's irresponsible to strike while negotiations are ongoing.

Some are saying the strikes will damage the British economy at a time when it is most vulnerable, and that Britain will be thrown into chaos.

How much of a disruption will these strikes really be?
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 01:20 PM
Response to Original message
62. The Obama Spending Non-Surge Paul Krugman
http://krugman.blogs.nytimes.com/2011/11/27/the-obama-s...

...what Im seeing in comments and reactions, once again, is the claim that Obama has presided over a vast expansion of government a claim backed not by describing any specific programs, but by pointing to the share of federal spending in GDP. Indeed, federal spending rose from 19.6% of GDP in 2007 to 23.8% in 2010 (it was briefly 25 in 2009, but that was a number distorted by the financial bailouts). So there has been a roughly 4 points of GDP rise in the spending share. Whats that about?

Well, part of the answer is that the ratio is up because the denominator is down. According to CBO estimates, in fiscal 2010 the economy operated about 7 percent below potential. This means that even if what the government was doing hadnt changed, the federal spending share of GDP would have risen by 1.4 percentage points.

Then, look inside the budget data (pdf), specifically at Table E-10. Youll see a surge in spending on income security; thats basically unemployment insurance, food stamps, and similar items. In other words, spending on safety-net programs is up because the economy is depressed, and more people are falling into the safety net.

Youll also see a sharp rise in Medicaid; again, this is because the lousy economy has pushed more people into hardship, making them eligible for the program...

MORE AND GRAPH AT LINK
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 01:22 PM
Response to Original message
63. Jean Pisani-Ferry: Eurozone is on the way to fiscal union (HE WISHES)


Europes leaders may still harbour secret hopes that the European Central Bank will come to their rescue, but at least they seem to have understood that the surest way to make that happen is to deliver on what they have responsibility for, starting with budgets. Fiscal union is now officially on the European agenda.

For some, this is all about strengthening sanctions for budgetary slippages through more automatic decision procedures and granting the power to veto national budgets to a European body. Angela Merkel, the German chancellor has spoken along these lines recently and Mark Rutte, the Dutch prime minister, is on a similar page. However, this plan alone is not likely to deliver much more than another layer of half-effective measures.

Read more >>
http://link.ft.com/r/EB8122/ZGZTFS/3CWTA/7A7OBF/VLCH9F/...
Printer Friendly | Permalink | Reply | Top
 
Ghost Dog Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 04:45 PM
Response to Reply #63
87. It's certainly on the (slow-moving) agenda, Demeter. n/t
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 06:13 PM
Response to Reply #87
92. It Will NEVER Happen
and if they do it on paper, it will be undone in blood. A union at the point of a gun is not a union.
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 01:23 PM
Response to Original message
64. Investment bankers move in on Iraq


Even as the US prepares to pull out its last troops from Iraq, well-heeled investment bankers are starting to descend on Baghdad, hoping to capitalise on the strife-torn countrys tentative efforts to rebuild its physical and financial infrastructure


Read more >>
http://link.ft.com/r/S4XZQQ/XH231P/WH2F8/0806QT/XH2HK2/...

HASN'T IRAQ SUFFERED ENOUGH? I'M SURE THEY'D RATHER HAVE ARAB BANKERS
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 01:24 PM
Response to Original message
65.  Greeces statistics chief faces criminal probe

The head of Elstat, Greeces new independent statistics agency, faces an official criminal investigation for allegedly inflating the scale of the countrys fiscal crisis and acting against the Greek national interest!

Read more >>
http://link.ft.com/r/73UJGG/VLCFYV/SUO9T/WTGHD3/II3IGG/...
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 01:29 PM
Response to Original message
67.  Europes banks feel funding freeze

The funding hole for European banks is deepening following a sharp fall in bond issuance this year as market turmoil leads to a region-wide credit crunch

Read more >>
http://link.ft.com/r/0QSDPP/VLCFED/YGZ3O/C4XAOC/QNGN2X/...
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 01:30 PM
Response to Original message
68.  China eyes western infrastructure

China Investment Corporation, the countrys main sovereign wealth fund, plans to invest in the dilapidated infrastructure of developed countries, starting with the UK, according to Lou Jiwei, the funds chairman

Read more >>
http://link.ft.com/r/S4XZQQ/B5QV14/DXJ2Y/974MU0/U1017N/...
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 01:31 PM
Response to Original message
69.  OECD warns of eurozone contagion risk

European leaders need to provide credible and large enough firepower to halt the sell-off in the eurozone sovereign debt market or they will risk a severe recession, according to the chief economist of the Organisation for Economic Co-operation and Development.

The warning came as the organisation slashed its half-yearly forecasts for growth within the worlds richest countries, and said activity in Europe would grind to a near-halt.

Read more >>
http://link.ft.com/r/BLH300/VLCP2S/ULCJB/ORNEKC/C49XTT/...
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 01:54 PM
Response to Original message
75. Members Of Congress Grow Wealthier Despite Recession By Luke Johnson (IMAGINE THAT!)
http://www.huffingtonpost.com/2011/11/01/congress-net-w...

Despite the economic recession and declining household wealth, the net wealth of members of Congress continues to rise, according to a Roll Call analysis of financial disclosure forms.

Members of the House and Senate have a collective net worth of $2.04 billion, up from $1.65 billion in 2008. The vast majority of the increase goes to the wealthiest members of Congress, who also account for most of Congress' net worth.

Members' net wealth may be much higher, however, since Roll Call only used the minimum valuation of assets in the range required by disclosure forms, and disclosure forms do not include non-income-producing assets, such as a personal residence...
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 02:05 PM
Response to Original message
76. Raw Materials Topping Equities With Economic Expansion Intact
http://www.bloomberg.com/news/2011-11-27/raw-materials-...

Commodities are beating equities for a fifth consecutive year, a sign that demand from developing economies is sustaining global growth that drove prices up almost fourfold in a decade...
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 02:10 PM
Response to Original message
78. MF Global customers taking case to Washington
http://www.marketwatch.com/story/mf-global-customers-ta...

MF Global Holdings Ltd. customers are preparing to bring their grievances over the firm's failure to Washington. "There wasn't anybody who was advocating for customers," said John Roe, a principal with BTR Trading Group, who has started a group called the Commodity Customer Coalition. The group, which represents customers who hold more than 7,000 MF Global accounts, is revving up a lobbying effort as Congress prepares to grill regulators on the MF Global bankruptcy and a shortfall of customer funds that could total $1.2 billion, twice what was originally thought. It also could turn to the courts as part of its effort to get customer funds back.

Roe, who trades for clients and on his own account, said he has over $10 million of his own money and his clients' money still stuck in MF Global. One complaint Roe has is with how the Commodity Futures Trading Commission is handling the fund recovery process. He said the agency shouldn't have turned to the Securities Investor Protection Corporation trustee because SIPC is designed to protect securities customers...SIPC provides insurance to securities customers in the event of a broker-dealer failure where there is a shortfall in customer funds, but there is no equivalent for the futures industry. Donald Horwitz, an attorney with compliance and regulatory consultancy Oyster Consulting LLC, said maybe the futures industry needs a similar entity...Horwitz said that the futures industry has argued against insurance because futures firms have always properly managed customer money. But in light of MF Global, he says that now seems to be a false premise. An insurance fund is certainly part of the discussion about what should be done in the wake of MF Global, said Dan Driscoll, chief operating officer of the National Futures Association, a self-regulatory body for the industry. "One of the arguments against having an insurance program is that just to administer it costs money and ultimately those costs get passed on to customers," Driscoll said...


CFTC Chairman Gary Gensler and SEC Chairman Mary Schapiro are scheduled to testify before the Senate Agriculture Committee on Dec. 1. A House Financial Services subcommittee will hold another hearing on MF Global, to which they have invited regulators as well as former MF Global chief executive Jon Corzine, on Dec. 15...Roe said he is appealing to lawmakers to add his group to the list of speakers for the Dec. 15 hearing.
Printer Friendly | Permalink | Reply | Top
 
Hotler Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 03:09 PM
Response to Reply #78
81. Where have the MF Global customers been the last....
three years when the rest of America was feeling the pain caused by the banksters? Oh I get it. It's the old "until it happens to me" excuse I'm not speaking out and stand up for others. So now that it is happening to them there are going to go cry bagging to Washington. Listen up fuckers. The line to Washington forms behind the Occupy Wall St. crowd.
Printer Friendly | Permalink | Reply | Top
 
RUMMYisFROSTED Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 03:46 PM
Response to Original message
84. How much different than a slot machine?
Discuss...please.
Printer Friendly | Permalink | Reply | Top
 
hamerfan Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 03:59 PM
Response to Reply #84
85. Better odds,
with the slot machine.
Now can I have my pony?
Printer Friendly | Permalink | Reply | Top
 
Ghost Dog Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 04:56 PM
Response to Reply #84
88. I used to say it was easier to bet accurately on financial markets
than on the horses (after studying lots of 'form') or the dogs. No longer.

It does depend to a degree on exactly what 'form' you take into account, though.
Printer Friendly | Permalink | Reply | Top
 
bread_and_roses Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 05:17 PM
Response to Reply #88
89. are you a TB fan, GD?
I am - always happy to connect with fellows
Printer Friendly | Permalink | Reply | Top
 
Ghost Dog Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 05:50 PM
Response to Reply #89
90. Um... hang on
(did some quick research). TB. You mean

tuberculosis - no.
tony bliar - never.
Ah: This? - http://truebloodwiki.wetpaint.com / - dunno, don't watch TV, sorry. Looks cool, though :) Can it be as cynically realist as I?

I'm a fan of this - http://www.rtve.es/radio/radio3 / and this - http://www.rtve.es/radio/radioclasica / , mostly, recently (Spanish public internet music radio - check them out).

Printer Friendly | Permalink | Reply | Top
 
Hotler Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 06:18 PM
Response to Reply #90
93. I'm guessing TB as in....
Thoroughbred horses.
Printer Friendly | Permalink | Reply | Top
 
Ghost Dog Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 06:38 PM
Response to Reply #93
95. Ah. Good observation.
Edited on Mon Nov-28-11 06:39 PM by Ghost Dog
I've never gambled anywhere other than in financial markets (though I've observed those who do) and in daily life of course (driving, crossing the street, just dealing with people...)

And I admire and can love all animals. They tend to approach me. There are some excellent donkeys (who never seem to be put to do any work, these days - not yet at least) around here...

:hi:
Printer Friendly | Permalink | Reply | Top
 
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 06:12 PM
Response to Original message
91. I Think that Little Last "Goose" of the DOW at the last minute is cute
but they really ought to find the slackers who rig this market and throw them in jail.

Oh, hi, Dr. Bernanke! Mr. Geithner. Mr. Blankfein. We were just talking about you!
Printer Friendly | Permalink | Reply | Top
 
Ghost Dog Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 06:20 PM
Response to Reply #91
94. "Cute", she says. Loaded term.
:)

I prefer the stoxx50 wiggles, dip and then 'goose' at the end...

Same riggers rigging it all, for sure.
Printer Friendly | Permalink | Reply | Top
 
lonestarnot Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 08:03 PM
Response to Reply #94
97. +10
Printer Friendly | Permalink | Reply | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Sat Aug 30th 2014, 08:10 PM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC