STOCK MARKET WATCH, Thursday March 18

[ozymandius]

Source: du

STOCK MARKET WATCH, Thursday March 18, 2010

Bush Administration Officials Convicted = 2
Name(s): David Safavian, James Fondren

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

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

AT THE CLOSING BELL ON March 17, 2010

Dow... 10,733.67 +47.69 (+0.45%)
Nasdaq... 2,389.09 +11.08 (+0.47%)
S&P 500... 1,166.21 +6.75 (+0.58%)
Gold future... 1,125 +2.30 (+0.20%)
10-Yr Bond... 3.63 -0.01 (-0.36%)
30-Year Bond 4.57 -0.02 (-0.39%)

---

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

Market Conditions During Trading Hours

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

---

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

Handy Links - Videos:
The Coming Collapse of the Middle Class    Charlie Rose talks with Roubini    Charlie Rose talks with Krugman    William Black: This Economic Disaster    Bill Moyers with Kevin Drum and David Corn

---

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

[ozymandius]

1. Intra-day trading charts are no more.

This also goes for the futures charts. The charts have been disabled by their host and replaced with scripts that do not generate graphical content. I spent more than an hour yesterday looking for a replacement with no luck. If you find something that is available through a hotlink (meaning that the graphic must be visible on the DU page), please let me know. I will keep the dead charts on the page for a few days as a placeholder - but then retire them permanently if a suitable replacement cannot be found.

Thank you.

[Rhiannon12866]

2. K&R. I am so sorry...

You do such an exceptional job! :yourock:

[ozymandius]

3. Thank you very much.

I updated my post to say that the futures charts are also disabled. These have been great tools for those people who just like to cruise by and glance at the charts. DU does not allow (I think) the embedding of javascript. So I am at a loss for options.

[TheWatcher]

20. Thank you for all the hard work you do ozy.

:)

[Rhiannon12866]

48. Maybe you should run this by elad.

He might have some ideas or be able to answer your questions. Good luck and thanks for all your hard work. It's been much appreciated... :toast:

[Tansy_Gold]

24. They don't want the rabble (see post #21)

to know what's going on????



TG

[Hugin]

30. Aw, man!

I knew at some point this would happen. :(


I have no suggestions, but, I do have an inkling... Maybe we can hook up a Google Finance link somehow. :/


As, I've said many times, Ozy... Thanks for keeping the SMW together for so long. :)


An Aside... Has anyone else noticed anything conspicuously absent in all of the Market Articles over the last couple of weeks? I have... The high unemployment rate. I guess either they figure they've got that one licked or else, if they don't talk about it, unemployment will magically disappear. :grr:

[MARALE]

31. Have you tried Stockcharts.com

they have a lot of links and user created charts. Not sure if they are what you want, but it may be worth a look.

[ozymandius]

4. Today's Reports

08:30 Core CPI Feb
Briefing.com 0.0%
Consensus 0.1%
Prior -0.1%

08:30 CPI Feb
Briefing.com -0.1%
Consensus 0.1%
Prior 0.2%

08:30 Initial Claims 03/13
Briefing.com 460K
Consensus 455K
Prior 462K

08:30 Continuing Claims 03/6
Briefing.com 4500K
Consensus 4522K
Prior 4558K

08:30 Current Account Balance Q4
Briefing.com -$117.5B
Consensus -$119.3B
Prior -$108.0B

10:00 Leading Indicators Feb
Briefing.com 0.0%
Consensus 0.1%
Prior 0.3%

10:00 Philadelphia Fed Mar
Briefing.com 17.8
Consensus 18.0
Prior 17.6

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

[UpInArms]

26. Initial Claims @ 457,000 and the rest of the 8:30 reports

8:30a U.S. Feb. shelter prices unchanged

8:30a U.S. CPI up 2.1% in past year, core up 1.3%

8:30a U.S. Feb. core CPI up 0.1%, as expected

8:30a 4-week average of claims falls 4,250 to 471,250

8:30a U.S. Feb. consumer price index unchanged

8:30a U.S. initial jobless claims drop 5,000 to 457,000

8:30a U.S. consumer price index unchanged in February

8:30a U.S. jobless claims fall 5,000 to 457,000

8:30a U.S. Feb. food prices rise 0.1%

8:30a U.S. Feb. energy prices fall 0.5%

8:30a U.S. Feb. shelter prices unchanged

8:30a U.S. CPI up 2.1% in past year, core up 1.3%

8:30a U.S. Feb. core CPI up 0.1%, as expected

8:30a 4-week average of claims falls 4,250 to 471,250

8:30a U.S. Feb. consumer price index unchanged

[ozymandius]

5. Oil falls to near $82 after 2-day rally

SINGAPORE – Oil prices fell to near $82 a barrel Thursday in Asia, paring two days of gains that were fueled by signs U.S. crude demand may be improving. ...

Oil had risen more than $3 the previous two days, helped higher by a larger-than-expected drop in gasoline and distillates inventories last week and a smaller-than-expected increase in crude supplies, according to Energy Information Agency data released Wednesday.

The 12-nation Organization of Petroleum Exporting Countries, which accounts for about 40 percent of global crude output, said Wednesday at a quarterly meeting in Vienna that it would maintain the group's production quotas. ...

In other Nymex trading in April contracts, heating oil fell 1.87 cents to $2.136 a gallon, and gasoline dropped 1.85 cents to $2.310 a gallon. Natural gas slid 4.1 cents to $4.262 per 1,000 cubic feet.

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

[ozymandius]

6. BofA CEO says the bank 'missed the mark'

CHARLOTTE, N.C. – Bank of America CEO Brian Moynihan conceded Wednesday that the company made a series of missteps during the credit crisis and recession that hurt its relationship with shareholders and customers.

"Before and during the recent crisis, many of our collective business judgments missed the mark," Moynihan said in an annual letter to shareholders that was posted on the company's Web site. The bank is making changes, he adds, that will put it in a better position to avoid such missteps in the future.

Those changes include improving customer relationships and the bank's compensation structure. ...

Bank of America Corp., one of the banks hardest hit by the credit crisis and recession, received $25 billion from the government's Troubled Asset Relief Program in late 2008. It received another $20 billion shortly after it acquired Merrill Lynch in January 2009 in what would become a sharply criticized deal. Bank of America repaid the $45 billion in December. ...

In 2009, the bank set aside $49 billion to cover current and future loan losses. Moynihan noted that net charge-offs, or loans written off as unpaid, fell in the fourth quarter, and wrote, "we think the economy will gain strength through the year, so we expect credit costs to improve." That statement reiterated comments the bank has made when it released quarterly earnings reports.

http://news.yahoo.com/s/ap/20100317/ap_on_bi_ge/us_bank_of_america_shareholder_letter

[ozymandius]

7. First of several job-creation bills clears Congress

WASHINGTON (Reuters) – A package of tax breaks and highway spending cleared Congress on Wednesday, the first of what Democrats hope will be several efforts to bring down the 9.7 percent unemployment rate.

The Senate passed the $17.6 billion measure by a vote of 68 to 29 and sent it to President Barack Obama, who will sign it into law on Thursday. ....

The bill sent to Obama would exempt businesses from paying the 6.2 percent payroll tax on new employees who had previously been out of work. Employers would also get a $1,000 tax credit if those workers were still on the job a year later.

Some economists and liberal lawmakers question that approach, saying it will only go to businesses that planned to expand anyway.

The bill also subsidizes state and local construction bonds and allocates $19.5 billion to shore up a highway-construction program and extend it through the end of the year.

The bill's costs, other than the highway fund, are offset by a crackdown on offshore tax shelters.

http://news.yahoo.com/s/nm/20100317/bs_nm/us_usa_congress_jobs

[ozymandius]

8. Stocks headed for lower start

NEW YORK (CNNMoney.com) -- U.S. stocks were poised to open lower Thursday as investors await some key readings on inflation and employment. ...

Economy: Investors will take in reports on inflation, jobless claims and a regional manufacturing index.

The Consumer Price Index (CPI) is expected to have risen 0.1% in February after climbing 0.2% the month before, according to a consensus of economists surveyed by Briefing.com. The so-called core CPI, which excludes food and energy prices, is expected to have increased 0.1% after falling 0.1% in January. ....

The government is also expected to report that the number of Americans filing initial claims for jobless benefits fell last week to 455,000 from 462,000 the week before.

After the market opens, the Conference Board will release its February report on leading economic indicators. The measure is expected to have risen 0.2%, following a 0.3% increase in January.

http://money.cnn.com/2010/03/18/markets/premarkets/

[ozymandius]

9. Bernanke Says Dodd Plan Would Harm Fed’s Ability to Spot Risks

March 18 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke criticized a proposal in the Senate to limit the central bank’s supervision to the largest financial firms, saying it would undercut its ability to spot financial risks.

“The insights provided by our role in supervising a range of banks, including community banks, significantly increases our effectiveness in making monetary policy and fostering financial stability,” Bernanke told the House Financial Services Committee yesterday.

Bernanke testified along with former Fed Chairman Paul Volcker, giving both an opportunity to address the proposal by Christopher Dodd, chairman of the Senate Banking Committee, to shrink the Fed’s authority to banks with more than $50 billion in assets. Congress is considering the biggest overhaul of financial regulation since the 1930s in a bid to prevent a repeat of the crisis that led to bailouts of firms including Citigroup Inc. and Bank of America Corp.

Central bankers are seeking to preserve authority over more than 5,000 firms across the nation, from Wall Street holding companies such as JPMorgan Chase & Co. to community banks, saying the Fed is best qualified to judge their safety and soundness.

http://www.businessweek.com/news/2010-03-18/bernanke-says-dodd-plan-would-harm-fed-s-ability-to-spot-risks.html

---

Funny that The Fed, with all of this power, neither spotted previous risks nor took any proactive action to avoid systemic failures that catapulted us into a disastrous economic situation.

[ozymandius]

10. Dodd’s Chief Counsel Bought Financial Stocks During 2008 Crisis (SMELLS REALLY BAD!)

March 18 (Bloomberg) -- Senate Banking Committee Chairman Christopher Dodd’s chief counsel in 2008 traded stock in Morgan Stanley, Wells Fargo & Co., American International Group Inc. and other rescued companies as the panel considered legislation to address the credit crisis, according to her financial disclosure form filed with the Senate.

Amy Friend, 51, who is now leading the panel’s effort to write a bill overhauling Wall Street regulations, bought $1,000- to-$15,000 stakes in four banks, weeks after Dodd hired her in January 2008, the form shows. She also owned shares of Fannie Mae, Freddie Mac, AIG and other insurance firms, according to the disclosure document, which she signed on June 5, 2009.

The transactions, permissible under Senate rules, included buying $1,000 to $15,000 of Federal Home Loan Bank bonds and Fannie Mae debt in June and July, 2008. On July 30 of that year, then-President George W. Bush signed into law a Dodd-sponsored bill setting out new regulations for the housing finance agencies and allowing the Treasury Department to give them cash injections. ....

It is impossible to tell the exact amount of Friend’s purchases and sales from the ethics records, which require her to value investments only in broad ranges.

She listed each of her financial stocks as being worth $1,000 to $15,000. They included: AIG, Bank of America Corp., Bank of New York Mellon Corp., Discover Financial Services, Freddie Mac, Fannie Mae, Federated Investors Inc., M&T Bank Corp., Wells Fargo, MetLife Inc. and MGIC Investment Corp., a mortgage insurer.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aUo98IguVJ3Y&pos=9

---

How uncanny that Ms. Friend would have the foresight to buy interest in companies at depressed values just ahead of a massive government bailout while working in an office that helped orchestrate the bailout legislation. Just luck, I guess. Nothing to see here. No sirree.

[Dr.Phool]

28. "Permissible under Senate rules".

Insider trading? I remember a guy named Paul Thayer, former CEO of LTV, who took a job as Undersecretary of Defense under Reagan, who got sent to prison over this kind of bullshit.

They used to have an ore boat named after him, that came up the river to the mills. Shortly after his conviction, they renamed it.

edit: This whole government, not just the administration, is quickly becoming the Edmund Fitzgerald of history.

[Demeter]

11. Federal Reserve Slogan: Risk Is Our Middle Name!

[ozymandius]

13. Jon Stewart: In Dodd We Trust (?)

http://www.thedailyshow.com/watch/wed-march-17-2010/in-dodd-we-trust

Stewart examines the many layers of idiocy Senator Dodd skillfully wields.

[Demeter]

22. That Was Depressing, IMO

The first time I heard about this, I was incredulous, second time depressed. Maye third time's the charm...when they are reading the convictions.

[Tansy_Gold]

19. Funny, yeah. I'm laughin' so hard. . ..

you took the words right outta my fingers, Ozy.


:hi:




Tansy Gold

[TheWatcher]

21. I'm telling you ozy, Did ANY of these kids with Business Week take Journalism 101?

SO many typos.

Here, let me at LEAST fix the headline, because I don't have time to fix the whole article:

Bernanke Says ANY Plan Would Harm Fed’s Ability to Loot Rabble (America)

There, that's better. :)

Carry On.

[Tansy_Gold]

23. Amen. n/t

[Zenlitened]

35. Man, ya can't make this stuff up, can ya?

Wow. Did Bernanke keep a straight face when he uttered such obvious nonsense? Did the people he was speaking to fall to the floor, laughing uncontrollably?

Did anyone ask him what he meant, way back in the good old days before the global economy came crashing down, what he meant by "subprime is contained"?

Wow. Seriously fuckin wow.



:wow:

[ozymandius]

12. American factories operating near record low utilization

The U.S. manufacturing sector has been hit hard in the latest economic downturn, but has also suffered a steady decline for the past decade. The Figure tracks capacity utilization, or the share of manufacturing capacity in use, since 1973. Capacity utilization measures the difference between how much the country’s manufacturing sector is producing and how much it could be producing. In December 2007 at the start of the recession, capacity utilization stood at 80.6%. By June of 2009 it had fallen to 68.2% and today it is at 72.6%. ....

Although it has rebounded slightly from the record low of 68.2% in June of 2009, utilization today remains only slightly above the previous record low of 70.9% reached in 1982. Because manufacturing jobs usually pay higher wages than jobs in the service sector, factory workers who lose their jobs are often unable to find comparably-paying work elsewhere.

http://www.epi.org/economic_snapshots/entry/american_factories_operating_near_record_low_utilization/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+epi+Economic+Policy+Institute&utm_content=Google+Reader#When:19:09:19Z

[ozymandius]

14. Rep. Bachus demands hearing on Lehman report, says Fed, SEC may have 'turned a blind eye' on fraud

A Republican lawmaker requested a congressional hearing on a bankruptcy examiner's report on Lehman Brothers Holdings Inc (LEHMQ.PK), saying the findings cast doubts on the Federal Reserve's supervisory role.

Representative Spencer Bachus, the top Republican on the House of Representatives Financial Services Committee, said the report highlighted regulators' failure to act on evidence of accounting gimmicks used to hide Lehman's insolvency.

"Either the SEC and the New York Federal Reserve failed to discover the ongoing accounting fraud at Lehman, or they turned a blind eye to the ongoing fraud," Bachus said in a letter to the committee's chairman, Barney Frank, requesting a hearing.

He said the hearing would be especially important given legislative proposals to expand the Fed's regulatory powers. ...

Later on Wednesday, the House Financial Services Committee was to hold a hearing to examine the link between the Fed's banking supervision responsibilities and its monetary policy function.

Read more: http://www.nydailynews.com/money/2010/03/17/2010-03-17_rep_bachus_demands_hearing_on_lehman_report_says_fed_sec_may_have_turned_a_blind.html#ixzz0iWYiWmzl

---

I wonder how former SEC Chairman and California Republican House member, Christopher Cocks Cox, feels about his former colleagues' willingness to throw him under the bus.

[ozymandius]

15. Summarizing Today's (Yesterday's) Fed Chairman Q&A

Summarizing Today's Fed Chairman Q&A: Prepare To Vastly Exceed Your Recommended Daily Allowance Of Bernanke's Prevarications

Yet of all questioners, Rep. Scott Garrett asks the truly most relevant questions of the day. First among them: "Are the GSE obligations sovereign debt?" Bernanke's response: "We stand behind it, but whether it is legally sovereign debt or not, I am not equipped to tell you." Same thing from Volcker, who adds that it is a "bad arrangement where you have this quasi private organization and the government stands behind it." So not even the wannabe uber regulator knows how to account for an amount equal to half of the total US Federal Debt. Swell.

On Lehman Garrett asks "The Fed was there on scene, your folks were there at Lehman's. Was the Fed aware of the Repo 105 and the accounting irregularities going on?" Bernanke answers "No - they were hidden. We are currently, for example, the principal regulator of Goldman Sachs, and we have about a dozen people on site, and another dozen who are looking at the company. We had in this case two people assigned to Lehman. And their main obligation was to make sure we get paid back our loans.... Our objective on the discount window loan was to make sure it was safe and they were safe."

On AIG, Goldman and Lehman's relationship:

Then Garrett asks the key question: "In light of these reports is this something that we should be concerned about? Is activity at these other (banks such as Goldman) is that something that (a) we should be concerned about and (b) something the Fed should be concerned about and are you looking into it." Bernanke's retort "(the banks) are now under our consolidated supervision, so we are now paying attention to these issues." That's the non-answer. As to the answer of whether the Fed is looking at whether shady accounting is going on or was going on in the past, Bernanke's version of the Fifth is as follows: "I don't know. This report just came out this week." In other words if Peck had not agreed to declassify Valukas' report, if there was no pressure to put the Examiner's report in the public domain the Fed would never have expressed any interest into just what kind of shady accounting goes on to mask the Tier 1 and Risk Based Capital of the banks under its supervision, and that leverage ratios by most of the banks it supervises are likely complete shams?

http://www.zerohedge.com/article/summarizing-todays-fed-chairman-qa-prepare-vastly-exceed-your-recommended-daily-allowance-be

[Demeter]

27. Thank God They Got It All on Video

It will come in real handy at the trials...

[AnneD]

18. F.R.S.P. alive and well

North Korea executes official for blunder
Jack Kim
SEOUL
Thu Mar 18, 2010 7:20am EDT
(Reuters) - North Korea has executed a ruling party official blamed for a botched currency reform, in a desperate attempt to quell public unrest and stem negative impact on Pyongyang's power succession, a news report said on Thursday.

The execution by firing squad in Pyongyang last week of Pak Nam-ki, Labour Party chief for planned economy, was for the crime of "a son of a bourgeois conspiring to infiltrate the ranks of revolutionaries to destroy the national economy," South Korea's Yonhap news agency said, quoting sources.

<snip>

The unrest, triggered by sharp price increases in the marketplace amid confusion caused by the late November currency revaluation, forced the North to take some steps to roll back its effect.

Analysts said that showed the North was under intense pressure to relieve problems that could upset the stability of the leadership.

North Korea, poorer since leader Kim Jong-il took power in 1994, is reeling under the loss of international aid and under U.N. sanctions imposed last year for a nuclear test, and has indicated it might return to the nuclear disarmament talks it has boycotted.

more....

www.reuters.com/article/idUSTRE62H0DT20100318?feedType=RSS&feedName=topNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FtopNews+%28News+%2F+US+%2F+Top+News%29

just a little something to get your day off to a good start. In this country, they put teachers jobs on the chopping block and bail out the banks. :evilgrin:

[DemReadingDU]

16. Programmers Indicted in Madoff Case

3/18/10 Programmers Indicted in Madoff Case

Two former computer programmers at Bernard L. Madoff’s firm were indicted Wednesday by a federal grand jury in Manhattan, Bloomberg News reported.

The programmers — Jerome O’Hara, 47, and George Perez, 44 — had been previously charged in the case. They are accused of developing and maintaining the computer programs used in Mr. Madoff’s fraudulent investment advisory business.

“O’Hara and Perez are alleged to have known that the special programs they developed contained fraudulent information and that they were used in connection with the S.E.C. and European accounting firm reviews” of Mr. Madoff’s business, according to a statement from the office of Preet Bharara, the United States attorney on the case.

Mr. O’Hara, of Malverne, N.Y., and Mr. Perez, of East Brunswick, N.J., were charged in a criminal complaint in November. They each face a maximum sentence of 30 years in prison. They are charged with conspiracy and falsifying records of a broker-dealer and of an investment adviser.

Mr. O’Hara’s lawyer, Gordon Mehler, told Bloomberg in a phone interview that his client “intends to plead not guilty and even though it has been more than four months since he was arrested, he’s still presumed innocent.” Mr. Perez’s lawyer, Larry H. Krantz, did not immediately return a call seeking comment, the news service said.

Mr. Madoff is serving a 150-year prison sentence for conducting the biggest Ponzi scheme in history.

http://dealbook.blogs.nytimes.com/2010/03/18/programmers-indicted-in-madoff-case/

or
http://www.nytimes.com/2010/03/18/business/18madoff.html?

[Demeter]

25. If They Take Away the Programmers, Only Crooks Will Have ...

well, yes of course.

[Festivito]

17. Debt: 03/16/2010 12,643,701,402,529.55 (UP 7,038,446,389.48) (Tue)

(Up a little bit. Debt seems to jump up big then drop slowly maybe up a little and down a little for days--repeat. Good day all.)

= Held by the Public + Intragovernmental(FICA)
= 8,152,882,370,691.23 + 4,490,819,031,838.32
UP 241,513,784.66 + UP 6,796,932,604.82

Source: Debt to the penny:
http://www.treasurydirect.gov/NP/BPDLogin?application=np

THINKING IN BILLIONS: Think 3 or 4 dollars per billion in a 309-Million person America.
If every American, man, woman and child puts in $3.24 each THAT'S 1B$.
A family of three: Mom, Dad, Child: $9.71, ABOUT TEN BUCKS for a 1B$ federal program.
I hope that is clear. However, I'd suggest using $3 per 1B$ to underestimate it.
Use $4 per 1B$ to overestimate the cost when thinking: Is the federal program worth it?
Aid to Dependant Children: 2B$/yr =$8/yr(a movie a year) Family of 3: $24/yr(an hour of bowling)

PERSONALIZED DEBT:
Every 10 seconds we net gain another American, so at the end of the workday of the report, there should be 308,996,958 people in America.
http://www.census.gov/population/www/popclockus.html ON 11/07/2009 08:19 -> 307,879,272
Currently, each of these Americans owe $40,918.53.
A family of three owes $122,755.59. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 21 reports in the last 30 to 28 days.
The average for the last 21 reports is 12,349,685,180.63.
The average for the last 30 days would be 8,644,779,626.44.
The average for the last 28 days would be 9,262,263,885.47.
There were 252 reports in 365 days of FY2007 averaging 1.99B$ per report, 1.37B$/day.
There were 253 reports in 366 days of FY2008 averaging 4.02B$ per report, 2.78B$/day.
There were 75 reports in 112 days of GWB's part of FY2009 averaging 8.03B$ per report, 5.38B$/day.
There were 174 reports in 253 days of Obama's part of FY2009 averaging 7.33B$ per report, 5.07B$/day so far.
There were 249 reports in 365 days of FY2009 averaging 7.57B$ per report, 5.16B$/day.
There were 113 reports in 167 days of FY2010 averaging 6.49B$ per report, 4.39B$/day.
Above line should be okay

PROJECTION:
There are 1,041 days remaining in this Obama 1st term.
By that time the debt could be between 14.1 and 22.3T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
03/16/2010 12,643,701,402,529.55 BHO (UP 2,016,824,353,616.47 so far since Obama took office.)

FISCAL YEAR DEBT CHANGE, Sep 30 prior year to Sep 30 named year:
(One "* " for each 40B$ reached)
FY1994 +0,281,261,026,873.94 ------------* * * * * * * WJC
FY1995 +0,281,232,990,696.07 ------------* * * * * * * WJC
FY1996 +0,250,828,038,426.34 ------------* * * * * * WJC
FY1997 +0,188,335,072,261.61 ------------* * * * WJC
FY1998 +0,113,046,997,500.28 ------------* * WJC
FY1999 +0,130,077,892,735.81 ------------* * * WJC
FY2000 +0,017,907,308,253.43 ------------WJC
FY2001 +0,133,285,202,313.20 ------------* * * C&B
01-WJC +0,053,598,528,417.78 ------------* WJC 31% of FY, 40% of FY-Debt
01-GWB +0,079,686,673,895.42 ------------* GWB 69% of FY, 60% of FY-Debt
FY2002 +0,420,772,553,397.10 ------------* * * * * * * * * * GWB
FY2003 +0,554,995,097,146.46 ------------* * * * * * * * * * * * * GWB
FY2004 +0,595,821,633,586.70 ------------* * * * * * * * * * * * * * GWB
FY2005 +0,553,656,965,393.18 ------------* * * * * * * * * * * * * GWB
FY2006 +0,574,264,237,491.73 ------------* * * * * * * * * * * * * * GWB
FY2007 +0,500,679,473,047.25 ------------* * * * * * * * * * * * GWB
FY2008 +1,017,071,524,649.92 ------------* * * * * * * * * * * * * * * * * * * * * * * * * GWB
FY2009 +1,885,104,106,599.30 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * B&O
09GWB +0,602,152,152,000.60 ------------* * * * * * * * * * * * * * * GWB 31% of FY, 32% of FY-Debt
09-BHO +1,282,951,954,598.70 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO 69% of FY, 68% of FY-Debt
FY2010 +0,733,872,399,017.80 ------------* * * * * * * * * * * * * * * * * * BHO
Endof10 +1,603,972,608,631.72 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Linear Projection

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
02/24/2010 -000,081,552,792.52 ----
02/25/2010 +034,823,775,896.06 ------------**********
02/26/2010 +007,974,774,874.74 ------------*********
03/01/2010 +088,256,071,194.67 ------------********** Mon
03/02/2010 +000,051,419,206.42 ------------*******
03/03/2010 +001,678,102,940.09 ------------*********
03/04/2010 +034,416,128,156.63 ------------**********
03/05/2010 -000,074,542,156.87 ----
03/08/2010 +000,260,238,586.47 ------------******** Mon
03/09/2010 +000,542,827,835.74 ------------********
03/10/2010 +000,295,703,179.30 ------------********
03/11/2010 +029,692,666,288.30 ------------**********
03/12/2010 +000,363,901,611.09 ------------********
03/15/2010 +060,487,338,970.60 ------------********** Mon
03/16/2010 +000,241,513,784.66 ------------********

258,928,367,575.38 Total of 15 above reports.

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

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

(Debt to the penny keeps changing. Stuff is missing. Best to keep our own history.) LAST REPORT:
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4309585&mesg_id=4309612

[Festivito]

42. Debt: 03/17/2010 12,639,779,478,641.89 (DOWN 3,921,923,887.66) (Wed)

(Up a tiny bit. Debt seems to jump up big then drop slowly maybe up a little and down a little for days--repeat. Good day all.)

= Held by the Public + Intragovernmental(FICA)
= 8,153,201,235,570.92 + 4,486,578,243,070.97
UP 318,864,879.69 + DOWN 4,240,788,767.35

Source: Debt to the penny:
http://www.treasurydirect.gov/NP/BPDLogin?application=np

THINKING IN BILLIONS: Think 3 or 4 dollars per billion in a 309-Million person America.
If every American, man, woman and child puts in $3.24 each THAT'S 1B$.
A family of three: Mom, Dad, Child: $9.71, ABOUT TEN BUCKS for a 1B$ federal program.
I hope that is clear. However, I'd suggest using $3 per 1B$ to underestimate it.
Use $4 per 1B$ to overestimate the cost when thinking: Is the federal program worth it?
Aid to Dependant Children: 2B$/yr =$8/yr(a movie a year) Family of 3: $24/yr(an hour of bowling)

PERSONALIZED DEBT:
Every 10 seconds we net gain another American, so at the end of the workday of the report, there should be 309,005,598 people in America.
http://www.census.gov/population/www/popclockus.html ON 11/07/2009 08:19 -> 307,879,272
Currently, each of these Americans owe $40,904.69.
A family of three owes $122,714.08. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 21 reports in the last 30 to 28 days.
The average for the last 21 reports is 12,061,140,131.41.
The average for the last 30 days would be 8,442,798,091.99.
The average for the last 28 days would be 9,045,855,098.56.
There were 252 reports in 365 days of FY2007 averaging 1.99B$ per report, 1.37B$/day.
There were 253 reports in 366 days of FY2008 averaging 4.02B$ per report, 2.78B$/day.
There were 75 reports in 112 days of GWB's part of FY2009 averaging 8.03B$ per report, 5.38B$/day.
There were 174 reports in 253 days of Obama's part of FY2009 averaging 7.33B$ per report, 5.07B$/day so far.
There were 249 reports in 365 days of FY2009 averaging 7.57B$ per report, 5.16B$/day.
There were 114 reports in 168 days of FY2010 averaging 6.40B$ per report, 4.34B$/day.
Above line should be okay

PROJECTION:
There are 1,040 days remaining in this Obama 1st term.
By that time the debt could be between 14.1 and 22.0T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
03/17/2010 12,639,779,478,641.89 BHO (UP 2,012,902,429,728.81 so far since Obama took office.)

FISCAL YEAR DEBT CHANGE, Sep 30 prior year to Sep 30 named year:
(One "* " for each 40B$ reached)
FY1994 +0,281,261,026,873.94 ------------* * * * * * * WJC
FY1995 +0,281,232,990,696.07 ------------* * * * * * * WJC
FY1996 +0,250,828,038,426.34 ------------* * * * * * WJC
FY1997 +0,188,335,072,261.61 ------------* * * * WJC
FY1998 +0,113,046,997,500.28 ------------* * WJC
FY1999 +0,130,077,892,735.81 ------------* * * WJC
FY2000 +0,017,907,308,253.43 ------------WJC
FY2001 +0,133,285,202,313.20 ------------* * * C&B
01-WJC +0,053,598,528,417.78 ------------* WJC 31% of FY, 40% of FY-Debt
01-GWB +0,079,686,673,895.42 ------------* GWB 69% of FY, 60% of FY-Debt
FY2002 +0,420,772,553,397.10 ------------* * * * * * * * * * GWB
FY2003 +0,554,995,097,146.46 ------------* * * * * * * * * * * * * GWB
FY2004 +0,595,821,633,586.70 ------------* * * * * * * * * * * * * * GWB
FY2005 +0,553,656,965,393.18 ------------* * * * * * * * * * * * * GWB
FY2006 +0,574,264,237,491.73 ------------* * * * * * * * * * * * * * GWB
FY2007 +0,500,679,473,047.25 ------------* * * * * * * * * * * * GWB
FY2008 +1,017,071,524,649.92 ------------* * * * * * * * * * * * * * * * * * * * * * * * * GWB
FY2009 +1,885,104,106,599.30 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * B&O
09GWB +0,602,152,152,000.60 ------------* * * * * * * * * * * * * * * GWB 31% of FY, 32% of FY-Debt
09-BHO +1,282,951,954,598.70 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO 69% of FY, 68% of FY-Debt
FY2010 +0,729,950,475,130.10 ------------* * * * * * * * * * * * * * * * * * BHO
Endof10 +1,585,904,306,086.23 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Linear Projection

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
02/25/2010 +034,823,775,896.06 ------------**********
02/26/2010 +007,974,774,874.74 ------------*********
03/01/2010 +088,256,071,194.67 ------------********** Mon
03/02/2010 +000,051,419,206.42 ------------*******
03/03/2010 +001,678,102,940.09 ------------*********
03/04/2010 +034,416,128,156.63 ------------**********
03/05/2010 -000,074,542,156.87 ----
03/08/2010 +000,260,238,586.47 ------------******** Mon
03/09/2010 +000,542,827,835.74 ------------********
03/10/2010 +000,295,703,179.30 ------------********
03/11/2010 +029,692,666,288.30 ------------**********
03/12/2010 +000,363,901,611.09 ------------********
03/15/2010 +060,487,338,970.60 ------------********** Mon
03/16/2010 +000,241,513,784.66 ------------********
03/17/2010 +000,318,864,879.69 ------------********

259,328,785,247.59 Total of 15 above reports.

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

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

(Debt to the penny keeps changing. Stuff is missing. Best to keep our own history.) LAST REPORT:
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4310879&mesg_id=4310919

[Dr.Phool]

29. Madoff reportedly assaulted by another inmate

And he thought he'd be safer in prison? Time to move him to the sissy range, aka, protective custody.


Madoff reportedly assaulted by another inmate
Convicted swindler treated for broken nose, fractured ribs, cuts after attac

By Paul Thomasch
updated 2 hours, 33 minutes ago

NEW YORK - Bernard Madoff, the swindler who orchestrated a multibillion dollar fraud, was attacked by another inmate at the federal prison where he is serving a 150-year sentence, the Wall Street Journal reported, citing three people familiar with the matter.

The report said that the attack occurred last December. After it, Madoff was moved to a low-security medical center for treatment, where he was treated for a broken nose, fractured ribs and cuts to his head and face, according to a felon currently at the prison in Butner, N.C.

At the time of the incident last year, the U.S. Bureau of Prisons said the disgraced financier was being treated for high blood pressure and dizziness. The Federal Bureau of Prisons and Ira Sorkin, a lawyer for Madoff, did not immediately return calls seeking comment on the Wall Street Journal report.

Madoff is serving a 150-year sentence at Butner Federal Correctional Complex in North Carolina after pleading guilty to a $65 billion investment fraud that bilked thousands of investors worldwide.

The Wall Street Journal said details of Madoff's injuries couldn't be independently verified. But it said another inmate who recently was released from Butner confirmed the assault. A third unnamed person did, too, according the report.

The former inmate, who served time on drug charges, said the dispute centered on money the assailant thought he was owed by Madoff.

The Wall Street Journal said the Bureau of Prisons told it that the incident had been investigated, including an interview with Madoff.

"In December he told staff he was not assaulted, and an investigation was completed following his statements, which corroborated his statements," the newspaper quoted Traci Billingsley, a Bureau of Prisons spokeswoman, as saying. "Not one inmate has told staff he was assaulted."

Meanwhile, according to the former inmate, Madoff spends free time in the prison library on the weekends and often watches movies.

Both inmates said Madoff socialized with reputed Colombo crime-family boss Carmine Persico, the newspaper reported.

http://www.msnbc.msn.com/id/35925191/ns/business-us_business/

[ozymandius]

32. test

And another:


And another:

[Demeter]

33. Bootiful! Lots of colors

Well, Tomorrow is Another Day. and not just any day, it's Weekend Economists Time.

I've got a theme all picked out: IMF.

Let's see if anyone can remember what that stands for (hint--it is NOT the International Monetary Fund!)

[tclambert]

34. It's Impossible! You can't Force me to accept a Mission figuring out what 3 random letters

stand for, Demeter, if that's really you and not Tansy with a latex mask on.

http://www.youtube.com/watch?v=XAYhNHhxN0A

Or, if you prefer Peter Graves, Martin Landau, Barbara Bain, Greg Morris, and Peter Lupus (who?) there's http://www.youtube.com/watch?v=k55NuWQCh78

[Dr.Phool]

37. Idiot Mother F.....?

No wait, that's Adios.

[UpInArms]

36. applause!

:applause:

I was out looking for charts and was going to test one myself -

but mine did not work

:(

am glad yours did!

[tclambert]

38. Are my eyes deceiving me or are those charts updating automatically?

Clearly, this is evidence of witchcraft. Does anyone happen to know if Ozymandius floats?

[Tansy_Gold]

39. Alan Greenspan traces housing bubble to collapse of the Soviet Union

http://www.theglobeandmail.com/report-on-business/economy/alan-greenspan-traces-housing-bubble-to-collapse-of-the-soviet-union/article1504666/

(thank you to JBoy elsewhere in LBN)

Fall of USSR pushed hundreds of millions of workers into global market, fueling savings glut that drove down rates, former Fed chairman says

:rofl:

Former Federal Reserve Chairman Alan Greenspan, whose legacy has been tarnished by the global financial crisis, on Thursday laid out a scholarly defense of why Fed policy did not fuel the housing bubble.

Mr. Greenspan did offer somewhat of a mea culpa, though, noting that the regulatory system failed by not demanding financial firms hold much larger capital buffers.


:rofl: :rofl: :rofl:

Mr. Greenspan also endorsed the idea of contingent capital, or debt that converts to equity in times of distress. He said this could reverse moral hazard, the expectation of bankers and traders that the government will bail them out if their bets go awry.



:rofl: :wtf: :rofl: :wtf: :rofl: :wtf:


Mr. Greenspan, who was known for his light-touch approach to regulation during his tenure as Fed chairman, said that the idea that a systemic risk regulator can spot risks in a timely manner is likely untenable.

“The notion of an effective systemic regulator as part of the regulatory reform package is ill-advised,” Mr. Greenspan said.

“Forecasters as a group will almost certainly miss the onset of the next financial crisis, as they have so often in the past and I presume any newly designated systemic risk regulator will also.”


(we have no smiley for BULLSHIT BULLSHIT BULLSHIT!!!!!!!!!!!!)




Tansy Gold

[Dr.Phool]

40. "Debt that converts to equity"?

Hmmm.... wonder how much I could get for my credit card debt. Or my car payment. Or my mortgage.

The man's a genius! I'll be rich!

[Demeter]

41. Where's the Whaaambulance, Then?

He's really gone where no man ought to go...

http://www.youtube.com/watch?v=hnzHtm1jhL4

[mrdmk]

43. I like this one better

It is little more gruesome.

link: http://www.youtube.com/watch?v=0IT2ZjdKOtM

[mrdmk]

44. This version is also good, the music is the same

This one is little less gruesome, NOT!

link: http://www.youtube.com/watch?v=1d0QND_24DE

Although, the girls do have shorter dresses!

[Demeter]

47. I'm Surprised He Didn't Blame Osama bin Ladin

That seems to be SOP when someone wants to change the subject, down in DC...

[ozymandius]

45. test 2

[Demeter]

46. Taht Was Wierd

First it wasn't there, and then it was...my java is faulty, perhaps?