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Pale Blue Dot Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 07:10 AM
Original message
STOCK MARKET WATCH, Friday, December 9, 2011
Source: du

STOCK MARKET WATCH, Friday, December 9, 2011

AT THE CLOSING BELL ON December 8, 2011

Dow 11,997.70 -198.67 (-1.66%)
Nasdaq 2,596.38 -52.83 (-2.03%)
S&P 500 1,234.35 -26.66 (-2.16%)
10-Yr Bond... 2.02 +0.05 (+2.28%)
30-Year Bond 3.04 +0.04 (+1.33%)



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
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Pale Blue Dot Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 07:11 AM
Response to Original message
1. Today's Reports
Dec 09 08:30 Trade Balance Oct -$44.0B -$44.0B -$43.1B
Dec 09 09:55 Mich Sentiment Dec 63.0 65.1 64.1

Read more: http://www.briefing.com/investor/calendars/economic/201...
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Roland99 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 08:39 AM
Response to Reply #1
20. U.S. Oct. trade gap narrows 1.6% to $43.5 bln (lowest for 2011)
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Roland99 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 10:56 AM
Response to Reply #1
36. Consumer sentiment at six-month high (67.7 vs Dec. 2010 level of 74.5)
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Hotler Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 01:20 PM
Response to Reply #36
48. It's not in my neighborhood. eom.
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hamerfan Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 03:05 PM
Response to Reply #48
58. We must live near each other! n/t
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Hotler Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 03:21 PM
Response to Reply #58
59. Let me buy you a beer. eom.
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Pale Blue Dot Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 07:11 AM
Response to Original message
2. Oil lingers below $98 after disappointing ECB plan
BANGKOK Oil prices fell below $98 per barrel Friday in Asia as uncertainty surrounded the outcome of a critical meeting of Europe's leaders aimed at solving the continent's debt crisis.

Benchmark crude for January delivery was down 49 cents to $97.85 a barrel in late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell $2.15 to end Thursday at $98.34.

In London, Brent crude was down 67 cents at $107.28 on the ICE futures exchange.

Investors are closely watching Europe's struggles to contain a banking crisis that threatens to spark global financial havoc. Without radical action, the region could tip into recession reducing energy demand within Europe and among major manufacturing countries like China that export goods to the eurozone.

http://old.news.yahoo.com/s/ap/oil_prices
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Pale Blue Dot Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 07:13 AM
Response to Original message
3. U.S. Stock-Index Futures Gain After EU Summit
U.S. stock-index rose, indicating the Standard & Poors 500 Index (SPX) will pare this weeks drop, after European leaders agreed to boost a rescue fund and tighten budget rules to stem the regions debt crisis.

Cooper Companies Inc., the maker of contact lenses, advanced 3 percent in Germany after its annual profit forecast topped analysts projections. Texas Instruments (TXN) Inc. sank 6.4 percent in early New York trading as a sales forecast from the largest maker of analog chips fell short of estimates.

Futures on the S&P 500 expiring in March gained 0.8 percent to 1,240.4 at 11:41 a.m. in London before reports on consumer confidence and trade. Dow Jones Industrial Average Index futures added 95 points, or 0.8 percent, to 12,039.

The S&P 500 has declined 0.8 percent this week after the gauge slid 2.1 percent yesterday as the European Central Bank damped speculation it would boost purchases of government bonds.

I dont think theres much of a disappointment in the summit that weve seen overnight, Otto Waser, chief investment officer at Research & Asset Management AG in Zurich, told Bloomberg Television. I think were right on track. Were 20 percent where we should be towards fiscal union to rescue the euro.

http://www.bloomberg.com/news/2011-12-09/u-s-stock-inde...
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DemReadingDU Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 08:09 AM
Response to Reply #3
17. NPR: 23 European Countries Sign On To Fiscal Pact

12/9/11 23 European Countries Sign On To Fiscal Pact
Linda Wertheimer and Jim Zarroli

After meeting Friday in Brussels until the early morning hours, most European leaders agreed to a plan to move ahead with more budget discipline. Are world financial markets likely to see the talks as a failure or as progress?

audio at link
http://www.npr.org/2011/12/09/143429349/23-european-cou...


quotes from the audio...
"Europe is in a lot of trouble"
"The bailout funds are not big enough to handle the debt crisis"

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 07:14 AM
Response to Original message
4. morning...
:donut:
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Tansy_Gold Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 07:31 AM
Response to Reply #4
10. indeed. . . . .
:donut:
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Ghost Dog Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 07:41 AM
Response to Reply #4
14. Friday lunchtime looming here...
much business will be left for during/after the weekend, behind closed doors, I guess.
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DemReadingDU Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 07:56 AM
Response to Reply #14
16. Seems like 2008 again

Lots of rumors, then a late Sunday deal attempting to save the markets before Monday opening.

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AnneD Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 10:00 AM
Response to Reply #14
35. Morning Marketeers....
:donut: and lurkers. You accurately summed it up GD....It is beginning to look like un-elected technocrats suppose themselves royalty and are planing to run countries based on the corporate business model and not with the peoples will or best interest in mind.

As we have discovered, too big to fail has not been good for middle class average folks. So someone needs to explain to me how this current scheme for the EU debt crisis bailout will be an improvement.

I think our politicians in the US secretly wish they had that kind of authority. They have to deal with the Declaration of Independence and the pesky Bill of Rights. Over the last 10-15 years they have been chipping away at it. The last 8 years have been the worst. I fear that Posse comitatus is not too far behind as we are in a police state now.

The only problem with the US politicians scheme is that folks here are armed. And our founding fathers specified that provision for a reason. Like it or not, it is our history and heritage. People forget that until 400+ years ago this was a wild and dangerous wilderness. My mom told me that her grandfather attended a hanging in the early 1900's. Our population is not so tamed as of yet as we are fairly new.

As time goes on, I fear that we will see violence on our soil again. There is a large population outside the beltway that are growing impatience with way thing are running. There has been no justice. As the quip goes...No Justice, no Peace. Know Justice, know Peace. Folks are getting tired of waiting for justice and the OWS is only a symptom. Try as they might, TBTB and their lapdog media will not gloss over the fact that this country is being screwed over by the banks. It is starting to seep in.

Happy hunting and watch out for the bears.
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dixiegrrrrl Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 01:45 PM
Response to Reply #35
52. We are getting the technocrat behavior over here, too.
MOre and more The Fed is out in front making fiscal policy.

The Super Committee was set up to avoid input from votes and most of Congress.

In the states, a lot of Repug governors have been quietly privatizing public services and utilities, roads, etc.

And of course there is ALEC, the legislation it has written are now being put into laws in many states.
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AnneD Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 02:06 PM
Response to Reply #52
53. My point being...
if they don't represent our interest (vote), let us just cut the position and save money. We need teachers and other public employees a hell of a lot more than we need governors, and congressmen. Just get rid of that excess fat and Run the US by supercomittee. At least if the don't come up with consensus, tax cut are equal and we will finally cut the defense budget. :thumbsup:
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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 07:16 AM
Response to Original message
5. europe: French bank ratings downgraded again by Moody's
http://www.bbc.co.uk/news/business-16105237

Credit rating agency Moody's has downgraded France's three big banks due to their difficulty borrowing money.

The agency cut Credit Agricole and BNP Paribas from Aa2 to Aa3, and Societe Generale from Aa3 to A1.

The move follows a previous rating cut by Moody's for Credit Agricole and Societe Generale in September.

"Liquidity and funding conditions have deteriorated significantly" for each of the banks, Moody's said, adding that the problem was likely to worsen.
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Ghost Dog Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 07:22 AM
Response to Reply #5
8. UK isolated as Europe moves ahead on fiscal union
BRUSSELS (Reuters) - Europe divided on Friday in a historic rift over building a closer fiscal union to preserve the euro, with a large majority of countries led by Germany and France agreeing to forge ahead with a separate treaty, leaving Britain isolated...

... After 10 hours of talks, all 17 members of the euro zone and six countries that aspire to join resolved to negotiate a new agreement alongside the EU treaty with a tougher deficit and debt regime to insulate the euro zone against the debt crisis...

... "It's going to be the basis for a good fiscal compact and more discipline in economic policy in the euro area members," Draghi said. "We came to conclusions that will have to be fleshed out more in the coming days." ...

... Sarkozy and Merkel said the intention was to forge an intergovernmental treaty among the euro zone countries and any others that wanted to join. They indicated that could be up to 25 countries in all, with only Britain and perhaps Hungary left outside the tent for now.

/... http://news.yahoo.com/eu-leaders-agree-fiscal-pact-trea...

EU suffers worst split in history as David Cameron blocks treaty change

Britain was left isolated this morning with just three other countries, Sweden, Hungary and the Czech Republic, as an exultant Nicolas Sarkozy hailed a historic breakaway euro plus bloc that would pursue fiscal and economic union via a new treaty outside the EU.

The Prime Minister insisted that he had been prepared to support treaty change among all 27 of the EUs members to allow the 17-strong eurozone to take measures to tackle its debt crisis and to enforce tough new fiscal rules for the single currency. But after 11 hours of bad-tempered talks, Mr Cameron said that he had blocked the changes because France and Germany and refused to agree to a protocol giving the City of London protection from a wave of EU financial service regulations related to the eurozone crisis...

... President Sarkozy said that British demands had been unacceptable.

We would have preferred a deal at the level of the 27, he said. That wasn't possible taking into account the position of our British friends. In order to accept treaty revision among the 27 EU states, David Cameron asked us - something we all judged unacceptable - for a protocol to be inserted into the treaty granting the United Kingdom a certain number of exonerations on financial services regulations.

"We could not accept this, since we consider, quite on the contrary, that a part of the world's woes stem from the deregulation of the financial sector.

/... http://www.telegraph.co.uk/news/worldnews/europe/eu/894...


See also: http://www.democraticunderground.com/discuss/duboard.ph...
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Ghost Dog Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 07:38 AM
Response to Reply #8
11. British Bankers want more EU votes.
The British Bankers Association says it is "pleased" about EU summit announcement which puts euro zone on more stable footing. The organisation also says: "The UK has most of the EU's financial business, but we have a minority of the votes."
by Reuters_RossChainey 11:47 AM

...

The Daily Mail's political editor, James Chapman (@jameschappers), tweets: Former Europe minister Denis MacShane: "There is now little point in Britain staying in the EU... It is an historic turning point". Gosh.
by Reuters_RossChainey edited by Reuters_RossChainey 11:39 AM

/... http://live.reuters.com/UK/Event/Buzz_from_the_European...

... 'Ordinary' human voters (citizens) get zero votes, meanwhile...
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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 08:12 AM
Response to Reply #11
18. +1
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Ghost Dog Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 11:42 AM
Response to Reply #8
43. Torygraph's Evans-pritchard is beside himself. EU "reduced to a shell" without UK!
Edited on Fri Dec-09-11 11:46 AM by Ghost Dog
(classic Fog in Channel: Continent Isolated case. I see little debate so far on the issue of financial system regulation in the anglo-saxon msm, just the typical pro-City spin). - and see DU here: http://www.democraticunderground.com/discuss/duboard.ph...

The leaders of France and Germany have more or less bulldozed Britain out of the European Union for the sake of a treaty that offers absolutely no solution to the crisis at hand, or indeed any future crisis. It is EU institutional chair shuffling at its worst, with venom for good measure.

It is risky to reach instant conclusions on a fast-moving story but it looks as if the EU may soon be reduced to a shell, with a new union forming among the core.

Much has been said about whether David Cameron handled this well or badly. I leave that debate to my colleagues. What strikes me as a former EU correspondent is how threatening this is to the EU Project itself...

... Did France and Germany really have to cause this rift by throwing in an assault on the City that has precious little do with the EMU crisis? Yes, I suppose they did...

/... http://blogs.telegraph.co.uk/finance/ambroseevans-pritc... /


Deregulation in the City has precious little to do with the crisis, huh. Everybody knows.
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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 07:23 AM
Response to Reply #5
9. Mortgage lending wilted in autumn {uk}
http://www.bbc.co.uk/news/business-16109139

Mortgage lending was squeezed further in October - with 10% fewer home loans given to first-time buyers than in the previous month, lenders have said.

There were 44,500 mortgages advanced for house purchases in the month, a fall of 8% compared with September, the Council of Mortgage Lenders (CML) said.

Loans to first-time buyers fell by 10% and they had to find a deposit of 20% of a home's value, on average.

Mortgage lending has been subdued throughout the year.
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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 07:38 AM
Response to Reply #5
12. Brussels deal fails to end uncertainty over spreading crisis
http://www.guardian.co.uk/business/economics-blog/2011/...

The tentative response from the financial markets speaks volumes. Nobody is really sure whether the deal thrashed out overnight in Brussels is really the big breakthrough hoped for in advance of the summit. It doesn't look like it, at least not yet. But the talking goes on.

Three things we do know.

The first is that the European Union, probably through their central banks, will provide money for the International Monetary Fund so that the IMF can lend it back to the vulnerable parts of the eurozone. This won't be official, because money for the IMF is supposed to go into a general pot and be available to any country, but in reality up to 200bn (170bn) will head across the Atlantic and back again.

The hope is that this will boost the fire power of Europe's bailout fund, giving it the capability to fend off attacks on Italy and Spain, where bond yields were worryingly rising this morning. It has become quite clear in recent months that the European Financial Stability Facility is insufficiently funded to deal with the spreading sovereign debt crisis and support from the IMF will help. Even so, it may not be enough.
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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 07:40 AM
Response to Reply #5
13. UK trade gap shrinks by biggest amount in more than 10 years
http://www.guardian.co.uk/business/2011/dec/09/uk-trade...

The biggest fall in Britain's trade deficit in more than a decade and an easing of inflationary pressure provided the chancellor, George Osborne, with a double dose of welcome economic news.

Figures released by the Office for National Statistics (ONS) showed sharply rising exports, and a decline in imports cut the trade gap from a record 10.2bn in September to 7.6bn in October, the biggest narrowing in a single month since modern records began in 1998. City analysts had been expecting a drop to 9.4bn.

Providing some hope for ministers that the much-sought-after rebalancing of the economy is under way, exports rose by more than 2bn in October to 26.5bn while the UK's import bill fell from 34.6bn to 34.1bn.

Britain's traditional strength in services resulted in a trade surplus of more than 6bn in October in activities such as banking and insurance. As a result, the deficit in goods and services combined contracted from 4.3bn to 1.6bn.
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Ghost Dog Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 07:44 AM
Response to Reply #5
15. Bundesbank cuts 2012 GDP growth f'cast to just 0.6 pct
BERLIN, Dec 9 (Reuters) - Germany's resilience to the
debt crisis engulfing its neighbours looked to be disintegrating
after data showed exports posted their biggest fall in half a
year in October, and the Bundesbank forecast a lean winter and
feeble growth next year.

With many euro zone members in danger of sliding into
recession by the end of the year, a monthly economy ministry
report said Germany's own momentum would slow in the fourth
quarter and that weakness in manufacturing and construction had
spread to the service industry.

The Bundesbank slashed its 2012 growth forecast to 0.6
percent, a third of the 1.8 perecent growth it had predicted six
months ago and below a government forecast of 1 percent.

"The crisis in public finances in a number of euro-area
countries, the ensuing uncertainty and general economic slowdown
are increasingly placing a strain on economic activity in
Germany," the German central bank said.

/... http://www.reuters.com/article/2011/12/09/germany-trade...
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dixiegrrrrl Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 09:43 AM
Response to Reply #5
34. Yet ignoring ratings of the USA banks that are so tied to the European banks.
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 11:32 AM
Response to Reply #34
38. Because the Fed and the Treasury Backstop Our Local Banksters
they can lose money with impunity....even steal it, apparently, plus people's houses, too.
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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 07:18 AM
Response to Original message
6. asia: China's inflation rate falls to 4.2% in November
http://www.bbc.co.uk/news/business-16104332

China's rate of inflation has fallen in November to its slowest pace in 14-months.

Consumer prices rose at 4.2% compared with the same month last year, the National Bureau of Statistics said on Friday.

Inflation was at 5.5% in October, after hitting a three-year high in July of 6.5%

Analysts said this creates more room for authorities to ease monetary policy and encourage economic growth.

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 07:21 AM
Response to Reply #6
7. Toyota Motor halves profit forecast due to Thai floods
http://www.bbc.co.uk/news/business-16105566

Toyota, Japan's largest carmaker, has halved its profit forecast for this year due to disruptions caused by Thailand's floods.

It now expects a net profit of 180bn yen ($2.3bn; 1.5bn) for the year ending 31 March 2012.

The firm issued its previous forecast of a 390bn yen profit in August.

It withdrew the forecast last month after supply disruptions of some crucial parts halted production at factories in 10 countries.
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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 08:15 AM
Response to Original message
19. Will Popular Reformer Cuomos Plan Tax the 1 Percent?
http://www.truthdig.com/report/item/will_popular_reform... /

Held aloft by the highest approval ratings of any governor in America, Andrew Cuomo scarcely seemed to worry about angering his states progressives, who were disappointed by his refusal to extend a state surtax on New Yorks millionaires. But in what may come to be regarded as a watershed moment in his tenure, Cuomo now plans a sweeping tax reform that is expected to demand more, not less, from the states wealthiest, while reducing the burden on the middle classin the name of fundamental fairness.

Over the weekend, rumors of a shift in Cuomos anti-tax position began to circulate, confirmed on Monday morning when his office dispatched a short essay by the governor to newspaper editors around the state arguing that New Yorks current tax code is unfair to the middle class and inhibits economic growth.

Rather than the expiring surcharges, which Cuomo castigates for raising the taxes of families making $200,000 a yearhardly millionaires, as he put ithis proposed new system would add higher brackets at the top end and lower brackets in the middle. Although he didnt offer details yet, his aims are clear enough:

First, we need to reform the code in a way that creates jobs and grows our economy. To do that, we need to put more money in New Yorkers pockets and inject it back in to the economy. There are also tax credits that can incentivize private-sector job growth.
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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 08:44 AM
Response to Original message
21. States where the most unemployed could lose benefits
http://bottomline.msnbc.msn.com/_news/2011/12/06/924677...

By Charles B. Stockdale, 24/7 Wall St.

Nearly 2 million Americans currently receiving unemployment benefits stand to lose coverage this January if Congress does not extend the emergency federal unemployment insurance program. 24/7 Wall St. has reviewed a study by the National Employment Law Project to identify the ten states where the most people could lose benefits.

The supercommittee was responsible for extending the unemployment benefits. The group was supposed to reach a federal debt-reduction agreement that would have included an extension of the federal unemployment insurance for people who have run out of state-level benefits. Since the supercommittee failed to reach an agreement, the federal programs will expire on December 31 unless Congressional lawmakers renew it.

24/7 Wall St.: Richest (and poorest) states in America

A similar uncertainty existed last year, before federal benefits were eventually extended. However, a sharply divided Congress may find it even more difficult to extend benefits this year. Rebecca Dixon, policy analyst at NELP, told 24/7 Wall St. that If Congress fails to renew unemployment insurance benefits, 6 million hardworking Americans struggling to get back on their feet will lose their emergency lifeline. These modest payments are vital to keeping these workers and their families afloat while they search for work in the worst job market since the Great Depression.

Despite recent declines in the national rate, unemployment is still a huge problem in the U.S. The rate has remained around 9 percent for three years, well above 2008s 5 percent rate. Worst still, 42 percent of the unemployed are currently long-term unemployed, meaning they have exhausted all state unemployment benefits, received before federal benefits and usually lasting for 26 weeks. This accounts for approximately 6 million people. If the federal program expires, 1.8 million people who either currently collect federal benefits or are to begin collecting them in January will be completely cut off.
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 09:17 AM
Response to Original message
22. Anyone Feeling Optimistic and Cheerful?
Kindly keep it to yourself....we need a hung-over smilie. Not that I'm hung over with spirits, but the lack thereof...

Any artist, theme, flick, or book for the Weekend? Get your idea in print! Electrons? Whatever.
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Fuddnik Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 09:29 AM
Response to Reply #22
29. How about "The Hangover"?
Edited on Fri Dec-09-11 09:37 AM by Fuddnik
I just finished watching "Democracy Now". They're broadcasting from the climate change conference in South Africa. I missed yesterdays show, but they were talking about an interview on the show yesterday, with one of James Inhofe's staffers. He referred to our beloved Dear Leader as Barack W. Bush. "We never imagined that he would be so good on the climate change issue".

I've got a hangover.

on edit: I think I'm going to spend the whole day drinking. I have have this blog post working through my head, and it ain't pretty. It's in the mid-70s today, and I could throw the laptop in the saddlebags and head over to the bar for inspiration. But, then I'd never get home. Maybe if I walk there, and wait for the wife to get off work......
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 09:32 AM
Response to Reply #29
32. I haven't seen it or heard about it
Any good?
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Fuddnik Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 09:40 AM
Response to Reply #32
33. The first one was decent. Haven't seen the sequel.
It reminds me of some exploits in my younger days. Although, I've never kidnapped Mike Tyson's pet tiger. But, I probably would have.
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Hotler Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 01:38 PM
Response to Reply #32
49. Hangover is a hoot. eom.
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 09:25 AM
Response to Original message
23.  Wolfgang Mnchau: The only way to save the eurozone is to destroy the EU

So we have two crises now. A still-unresolved eurozone crisis and a crisis of the European Union. Of the two, the latter is potentially the more serious one. The eurozone may, or may not, break up. The EU almost certainly will. The decision by the eurozone countries to go outside the legal framework of the EU and to set up the core of a fiscal union in a multilateral treaty will eventually produce this split.

I wrote in October that a time will come when the interests of the eurozone will not only collide with those of the non-eurozone, but with the EU itself. We are now at that point.
On Thursday night, Angela Merkel and Nicolas Sarkozy clashed with David Cameron in a familiar Britain-versus-the-rest diplomatic standoff. That itself is not new. But a determination to go outside the treaty to overcome the disagreements adds a new dimension to this long-lasting dispute.

Read more >>
http://link.ft.com/r/M2ZOXX/SPOF63/EKRAI/KQJKPB/DWJ4FU/...

I DON'T QUITE SEE HIS POINT...I THINK HE'S SPLITTING A HAIR THAT WILL NOT SURVIVE THE PROCESS.
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 09:30 AM
Response to Reply #23
30.  EU policymakers struggle to square circle

Germanys determination to push Europe into potentially tortuous negotiations and ratifications of treaty changes has raised fears in Brussels

Read more >>
http://link.ft.com/r/J0VG55/DWJZX4/WH2F8/AMWFUS/PFBQDS/...
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 09:31 AM
Response to Reply #30
31.  Cameron faces showdown with Sarkozy

French label City summit demands unacceptable as EU leaders push Merkel to agree 150bn in IMF funds
Read more >>

http://link.ft.com/r/J0VG55/DWJZX4/WH2F8/AMWFUS/TUORQW/...

SINCE "THE CITY" CAUSED THIS MESS, AS WELL AS AIG AND LEHMAN'S, I SAY GIVE THEM NOTHING!
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 11:37 AM
Response to Reply #23
42. EU leaders fail to agree treaty changes


Leaders of the European Unions 27 countries failed to agree to change the EUs treaties in order to implement tighter fiscal rules and instead chose to create a new intergovernmental treaty which will likely have less teeth and be negotiated only among 23 of the blocs members.

Despite the division which will leave Britain and Hungary out of the new pact, with the Czech Republic and Sweden still weighing participation Mario Draghi, the European Central Bank president, signalled his approval, a key vote of confidence that could allow the ECB to move more aggressively in eurozone bond

markets.
Read more >>
http://link.ft.com/r/NA70KK/IIP42Q/Q38E1/JESXN0/XH2PYT/...
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 11:44 AM
Response to Reply #42
44. IMF must play its part in any euro solution


European leaders will meet on Thursday and Friday for yet another historic summit at which the fate of Europe is said to hang in the balance. Yet it is clear that this will not be the last meeting convened to deal with the financial crisis.

If public previews from France and Germany are a guide, there will be commitments to assuring fiscal discipline in Europe and establishing common crisis resolution mechanisms. There will also be much celebration of commitments made by Italy, and a strong political reaffirmation of the permanence of the monetary union. All of this is necessary and desirable, but the world economy will remain on edge.

Read more >>
http://link.ft.com/r/UXDMSS/2O4TML/T10SH/U1HQOO/YBAUZC/...
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 02:41 PM
Response to Reply #44
54. Sure, Let the IMF in to Play
Too many cooks, and all that
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 09:26 AM
Response to Original message
24.  European banks have 115bn shortfall

Commerzbank is facing nationalisation after regulators said the German bank must raise an additional 5bn of capital to meet new requirements

Read more >>
http://link.ft.com/r/IOCBMM/WT2P1J/9MEOW/ZGO1A6/II3WZO/...
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 09:27 AM
Response to Reply #24
25.  Exercise catches German banks off guard

The European Banking Authoritys latest assessments of financial strength have left some European lenders with a bigger capital shortfall

Read more >>
http://link.ft.com/r/IOCBMM/WT2P1J/9MEOW/ZGO1A6/FKRMVA/...
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 09:28 AM
Response to Reply #25
27.  Lloyds chief is having to reapply for own job

Bank is set to hold a board meeting at which it will decide whether Antnio Horta-Osrio, who went on medical leave, can credibly return to work

Read more >>
http://link.ft.com/r/IOCBMM/WT2P1J/9MEOW/ZGO1A6/5VX8LG/...
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Hotler Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 01:41 PM
Response to Reply #27
50. Not without a note from his doctor. eom.
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 11:45 AM
Response to Reply #25
45.  German banks weakest in stress tests

Germanys Commerzbank is facing the prospect of nationalisation, following updated stress test figures from regulators at the European Banking Authority, which nearly tripled the capital shortfall of the German banking sector.

The stress test, which pushes up the Europe-wide deficit from 106bn in October to 115bn now, shows that Commerzbank must raise 5.3bn of equity to come into line with the 9 per cent core capital ratio that EBA is demanding by June 2012.

Read more >>
http://link.ft.com/r/H60H77/U1CRTS/7ZY85/II9ZNF/EXJ7JP/...
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 11:36 AM
Response to Reply #24
41.  ECB launches new support for banks

Europes banks have been locked out of traditional funding markets, unwilling and in some cases unable to tap investors for new liquidity

Read more >>
http://link.ft.com/r/J0VG55/DWJZX4/WH2F8/AMWFUS/B5Q261/...
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 09:27 AM
Response to Original message
26.  Wells Fargo pays $148m to settle bond case

Bank admits wrongdoing in allegation of rigging bids for US municipal notes as SEC rejects criticism of non-admission practice

Read more >>
http://link.ft.com/r/IOCBMM/WT2P1J/9MEOW/ZGO1A6/HYN4AP/...
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 09:29 AM
Response to Original message
28.  Hedge funds braced for worst year since 2008

Industry is set for its second-worst performance in two decades with only a few tactical traders managing to do well in volatile markets

Read more >>
http://link.ft.com/r/IOCBMM/WT2P1J/9MEOW/ZGO1A6/4CWG1P/...
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Ghost Dog Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 11:18 AM
Response to Original message
37. Stocks in Europe Advance as China Plans $300 Billion Investment Vehicle
European stocks climbed, trimming a weekly decline for the Stoxx Europe 600 Index, after a report said Chinas central bank plans to set up $300 billion of funds to invest overseas.

... The Stoxx 600 jumped as much as 1.4 percent after Reuters reported China will create a new investment vehicle to improve returns on its foreign-exchange reserves. The vehicle will operate one fund targeting investment in the U.S. and another focused on Europe, Reuters reported, citing an unidentified person with knowledge of the matter.

/... http://www.bloomberg.com/news/2011-12-09/stock-futures-...

So, is this just an 'convenient' rumor or some of the plan revealed? Put about by whom?


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Roland99 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 11:34 AM
Response to Reply #37
39. About 80-90% shy of where it would need to be.
Might as well call it EFSF-Asia.

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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 11:34 AM
Response to Reply #37
40. Is that why the DOW is up?
Haven't they ever heard the saying: Beware of "ANYBODY" bearing "gifts"?
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kickysnana Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 01:11 PM
Response to Reply #40
47. Congress adjurned without extending unemployment and tax holiday
Now a thinking person knows that people without money to not spend money but doesn't Wall Street always react this way to such news?
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 02:43 PM
Response to Reply #47
55. It must be a Death Wish
on the part of the GOP.
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Ghost Dog Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 12:00 PM
Response to Reply #37
46. Equity markets not spooked by outcome of EU summit
4.54pm: So after all that, the equity markets haven't really been spooked by the outcome of the EU summit (pace those that believe the real story is in the bond markets - more on them in a moment).

The FTSE 100 has finished 45.44 points higher at 5529.21, with banks making up the top three risers. Lloyds Banking Group is up 6%, Barclays and Royal Bank of Scotland 5%. It seems incredible we've got so used to the fact the banks see such volatile daily moments...

Over in Europe Germany's Dax is up 2%, France's Cac is 2.4% higher, Spain 2.2%, Portugal 1.6% and Italy up 3.4%. Oh yes, and Wall Street is currently around 160 points higher.

And in the bond market, Italian yields have edged 0.148 points lower to 6.379%, while Spain is 0.034 points lower at 5.79%.

/... http://www.guardian.co.uk/business/2011/dec/09/european...
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 02:45 PM
Response to Reply #46
56. The Pirates Have Called for a Parley
Trying to figure out whether they can take another run against which target.

They won't stop until the world has crashed down around their ears...regardless of what didn't quite happen last weekend.
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Hotler Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 01:45 PM
Response to Original message
51. k&r n/t
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 02:59 PM
Response to Original message
57. Have I Got a Topic For the Weekend!
Edited on Fri Dec-09-11 03:00 PM by Demeter
Came across an interesting anniversary--it may not go platinum, but it's whang in the gold!

Now I need some arty angle to go with it....

And remember, it's Euchre Night, so don't expect anything until 10PM or so, EST.
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dixiegrrrrl Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 03:50 PM
Response to Reply #57
60. I gots to WAIT??!!????
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Ghost Dog Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 07:32 PM
Response to Reply #60
61. I could not more strongly recommend watching this video interview while you wait,
dixiegrrrrl!

Engineering the Eurozone Collapse (F. William Engdahl): http://tv.globalresearch.ca/2011/12/engineering-eurozon...
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kickysnana Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 07:36 PM
Response to Reply #57
62. Oh darn, is it Friday already? I didn't reply to your question from last weekend yet.
I need a do over of this week.

Enjoy your evening.
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nc4bo Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 08:14 PM
Response to Original message
63. Anyone know which DU3 forum SMW will call home?
Looks like the DU2/DU3 transfer plans are accelerating and I'd hate to miss out on the SMW threads.
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 10:59 PM
Response to Reply #63
64. SMW Doesn't Even Have a Leader Yet
PBD is retiring.
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