STOCK MARKET WATCH, Friday August 6

[ozymandius]

Source: du

STOCK MARKET WATCH, Friday August 6, 2010

AT THE CLOSING BELL ON August 5, 2010

Dow... 10,674.98 -5.45 (-0.05%)
Nasdaq... 2,293.06 -10.51 (-0.46%)
S&P 500... 1,125.81 -1.43 (-0.13%)
Gold future... 1,198 -1.80 (-0.15%)
10-Yr Bond... 2.91 +0.01 (+0.38%)
30-Year Bond 4.06 +0.01 (+0.17%)

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Market Conditions During Trading Hours

Euro, Yen, Loonie, Silver and Gold

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Handy Links - Videos:
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    William Black: This Economic Disaster    Bill Moyers with Kevin Drum and David Corn

Bush Administration Officials Convicted = 2
Names: David Safavian, James Fondren

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

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

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

Read more: du

[ozymandius]

1. Today's Reports

08:30 Nonfarm Payrolls Jul
Briefing.com -100K
Consensus -87K
Prior -125K

08:30 Nonfarm Payrolls - Private Jul
Briefing.com 70K
Consensus 83K
Prior 83K

08:30 Unemployment Rate Jul
Briefing.com 9.6%
Consensus 9.6%
Prior 9.5%

08:30 Hourly Earnings Jul
Briefing.com 0.0%
Consensus 0.1%
Prior -0.1%

08:30 Average Workweek Jul
Briefing.com 34.1
Consensus 34.1
Prior 34.1

15:00 Consumer Credit Jun
Briefing.com -5.0B
Consensus -5.7B
Prior -9.10B

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

[Roland99]

18. Nonfarm payrolls drop 131,000 in July

Nonfarm payrolls drop 131,000 in July
Private payrolls up 71,000, economists had been expecting growth of 100,000
http://www.marketwatch.com/story/nonfarm-payrolls-drop-131000-in-july-2010-08-06?dist=beforebell

U.S. employers continued to hire but at a sluggish pace that adds to pessimism about the economic outlook and may put pressure of the Federal Reserve to take more steps to support the economy.

Private sector payrolls rose by an estimated 71,000 in July, the Labor Department said.

Total nonfarm payrolls fell by a seasonally adjusted 131,000 in July, but all the lost jobs were temporary jobs at the U.S. Census.

...

The nation's unemployment rate held steady at 9.5%.

[ozymandius]

2. Oil rises above $82 as traders eye US jobs report

SINGAPORE – Oil prices rose above $82 a barrel Friday in Asia ahead of a key employment report that will help investors gauge the strength of the U.S. economy.

Analysts expect the Labor Department to say private employers hired 90,000 workers in July, a slight increase from the 83,000 hired in June. But the unemployment rate will likely rise to 9.6 percent from 9.5 percent because of government layoffs tied to cutting temporary census jobs.

Traders will be closely watching how stock and currency markets react to the jobs data as signs of overall investor sentiment. Asian stocks were mixed Friday and the euro was little changed at $1.3185.

In other Nymex trading in September contracts, heating oil rose 0.95 cent to $2.1963 a gallon, gasoline gained 0.72 cent to $2.1716 a gallon and natural gas jumped 2.4 cents to 4.622 per 1,000 cubic feet.

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

[ozymandius]

3. From the "No Shit" files: More jobs needed to lift consumers, drive recovery

WASHINGTON – Faster job growth is needed to accelerate the recovery, but economists worry the government's July employment report won't show strong gains.

Without more jobs, Americans are likely to remain cautious with their spending, restraining the economic rebound. But without more spending, companies will likely be slow to hire.

Companies are forecast to have added a net total of 90,000 private-sector jobs in July, according to economists surveyed by Thomson Reuters. That's not nearly enough to bring down the unemployment rate, which is expected to rise to 9.6 percent from 9.5 percent.

Overall, the economy is likely to lose a total of 65,000 jobs because of the end of temporary positions with the U.S. Census Bureau.

http://news.yahoo.com/s/ap/20100806/ap_on_bi_go_ec_fi/us_economy

[ozymandius]

4. U.S. payrolls likely fell again in July on census

WASHINGTON (Reuters) – U.S. employment probably fell for a second straight month in July as more temporary census jobs ended and private hiring remained too weak to boost a fragile economic recovery, according to a Reuters survey.

The survey of 75 economists forecast nonfarm payrolls dropped 65,000 after declining 125,000 in June. Private-sector hiring, considered a better gauge of labor market health, is seen rising 90,000 after increasing 83,000 in June.

The state of the labor market is one of the factors that will determine the timing of the Federal Reserve's first interest rate rise since reducing overnight lending rates to near zero in December 2008.

Fed Chairman Ben Bernanke has said the U.S. central bank could take steps to further ease monetary policy if the recovery were to falter. The central bank holds its next policy-setting meeting on Tuesday.

http://news.yahoo.com/s/nm/20100806/bs_nm/us_usa_economy

[ozymandius]

6. Stiglitz Says U.S. Faces ‘Anemic Recovery,’ Needs More Stimulus

Aug. 6 (Bloomberg) -- Nobel Prize-winning economist Joseph E. Stiglitz said the U.S. economy faces an “anemic recovery” and the government will need to enact another round of “better designed” stimulus measures.

The Obama administration took “a big gamble and it doesn’t look like it’s paying off,” Stiglitz told Bloomberg TV in an interview in Sydney yesterday. “The recovery is so weak that it is not strong enough to generate new jobs for the new entrants in the labor force, let alone to find jobs for the 15 million Americans who would like a job and can’t get one.”

The ex-World Bank chief economist spoke as Mohamed A. El- Erian, chief executive officer at Pacific Investment Management Co., estimated the possibility of deflation and a double-dip recession in America at 25 percent. The U.S. lost 65,000 jobs last month, according to a median forecast of 81 economists in a Bloomberg News survey before the Labor Department report today. The unemployment rate climbed to 9.6 percent from 9.5 percent, the survey showed.

Data from the Commerce Department on Aug. 3 showed consumer spending and personal income were unchanged in June, further evidence the weak jobs recovery is hurting demand. Household purchases grew at a 1.6 percent rate in the second quarter. The savings rate for American households rose to 6.4 percent in June, the highest level in a year, the data showed.

http://noir.bloomberg.com/apps/news?pid=20601087&sid=aliQAoFT9LLc&pos=4

[Demeter]

13. That File Is Getting Awfully Big

[ozymandius]

5. World stocks mostly higher ahead of US jobs report

SINGAPORE – World stock markets were mostly higher Friday as investors looked to monthly employment figures for clues about the strength of the U.S. economic recovery.

In early trading in Europe, Britain's FTSE 100 rose 0.5 percent, Germany's DAX index gained 0.5 percent, and France's CAC-40 advanced 0.5 percent. Futures pointed to modest gains on Wall Street with Dow futures up 11 points, or 0.1 percent, at 10,646.00.

Japan's benchmark Nikkei 225 stock index lost 0.1 percent to 9,642.12 while Hong Kong's Hang Seng was up 0.6 percent to 21,678.80.

South Korea's Kospi was little changed at 1,783.83. Markets in India, Thailand and Indonesia gained while Malaysia and Singapore dropped.

http://news.yahoo.com/s/ap/20100806/ap_on_bi_ge/world_markets

[ozymandius]

7. Wheat prices soar. Are bread prices next?

NEW YORK (CNNMoney.com) -- With wheat futures soaring to their highest level in two years, you could soon find yourself paying more for a loaf of bread at your local grocery store.

The price of wheat has surged more than 80% from its seven-month low in June. Prices continued to rally Thursday, surging to their highest level since August 2008, after Russia said it would ban grain exports until Dec. 1 due to a drought that has destroyed more than 20% of its wheat crop.

If prices continue to surge, you could wind up paying 25% to 30% more for a loaf of bread and at least 10% more for a pizza by the end of August or early September, said Darin Newsom, a senior analyst at Telvent DTN, an agriculture and commodities information company.

The United Nations' Food and Agriculture Organization said Wednesday that it has cut its global wheat production forecast for 2010 nearly 4% to 651 million metric tons, down from its June estimate of 676 metric tons.

http://money.cnn.com/2010/08/05/news/economy/wheat_prices/index.htm

[burf]

14. One of the comments at the CNN story

hit the nail right on the head. If the price of wheat goes to $10 a bushel, it would only be 17 cents worth of it in a loaf of bread. So why would bread prices increase 30 cents? Looks as though the speculators are up to their old tricks again.

There is more on the commodity speculators over yesterdays The Automatic Earth, Frankly, it makes a person sick, or it takes a real sick person to pull the kind of stuff these market jockeys are getting away with.

Good day to all!

Thanks again Ozy for all you do.

[ozymandius]

8. Floyd Norris: Caveat Emptor, Continued

A few years ago, the securities markets financed hundreds of billions of dollars in mortgages without any government guarantee. Now, those markets are virtually closed to such financing.

Whether or not they will ever come back is open to question, but Wall Street made clear this week just how intransigent it would be in resisting the kind of changes that might convince investors the waters were safe.

The investment banks that put together mortgage securities told regulators that they should not be required to evaluate the credit quality of the mortgages they package and sell. And then they argued that they had no ability to do that.

The Securities and Exchange Commission has proposed a new set of rules for such mortgage-backed securities. For some of them — the ones that are sold publicly and in an expedited way that does not require the commission to carefully review the offering — the proposal included a requirement that the chief executive of the firm that put the deal together provide a certification of the deal’s quality.

http://www.nytimes.com/2010/08/06/business/06norris.html?_r=1&ref=business

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This kind of circular logic demonstrates how Wall Street, much like Washington tries to be, is a closed system. It exists only for itself.

[ozymandius]

10. One more then I gotta go.

Relating to low trading volumes and investor distrust of the markets:

On Investor Distrust in the Markets

An article by Gillian Tett in the Financial Times, “Trading volumes retreat with investor trust,” contends that the notably low trading activity of late is a sign of deeper changes in financial markets:

The most pernicious issue hanging over the system right now is a loss of confidence – not merely in the idea that the future will be a brighter place, but also, most crucially, about whether anybody is able to predict that future at all.

Think back, for a moment, to the halcyon years before the summer of 2007. Back then, it seemed to be such a cosy and stable economic era that economists dubbed it “the Great Moderation” and most investors and businesses had absolutely no qualms about making 10-year plans. Indeed, that was expected in a world, where long-term planning – armed with complex computer forecasts – appeared to be not just rational, but a hallmark of modern society, something that separated us from earlier ages.

However, the financial crisis has shattered that sense of complacency. ...

While I agree with Tett’s bottom line, I’m not fully on the same page with her in her assessment. First, I think she overstates and to my mind, somewhat mischaracterizes the mood of early 2007 (which is odd, since her articles then were pitch perfect). Perhaps government statisticians felt comfortable with ten year time frames, but corporations? Short-termism was rampant, due to bad incentives. ...

And the big shock to confidence was the crisis itself, the fact that so many formerly stodgy markets (like money market funds, interbank lending, even the rock solid German covered bond market) were infected by risk and duly had heart attacks. Investors were traumatized. ...

This piece examines the broken trust in the markets from many different angles. It's a good read.

[ozymandius]

9. Time is nigh.

Good morning. :donut: :donut: :donut:

Work calls. I will check in when the day is done. :hi:

[hamerfan]

11. Have a great day, Qzy!

And thanks for all you do here.
:donut:

[Roland99]

12. Yes, it does.

Already done some from home, now to get ready to head into the actual place of work.

:hi:

[AnneD]

16. Catch you on the flip side...

have a good one, Ozy. And Thanks for getting the ball rolling.

[Tansy_Gold]

17. Have a great day, Everyone!

My "workplace" is right here, but the work itself is yelling very loudly, so I'd better hustle my little fingers to the workplace screens and dig into it.

Drive carefully, all you commuters. There are crazy people on the roads!



TG, NTY

[Po_d Mainiac]

15. More unwelcomed butt sex from the banksters

In the spring of 2008, the Denver public school system needed to plug a $400 million hole in its pension fund. Bankers at JPMorgan Chase offered what seemed to be a perfect solution.

snip

Rather than issue a plain-vanilla bond with a fixed interest rate, Denver followed its bankers’ suggestions and issued so-called pension certificates with a derivative attached; the debt carried a lower rate but it could also fluctuate if economic conditions changed.

snip

Since it struck the deal, the school system has paid $115 million in interest and other fees, at least $25 million more than it originally anticipated.

To avoid mounting expenses, the Denver schools are looking to renegotiate the deal. But to unwind it all, the schools would have to pay the banks $81 million in termination fees, or about 19 percent of its $420 million payroll.

snip

Denver isn’t the only city confronted with budgetary woes aggravated by esoteric financial deals that Wall Street peddled in the years before the credit crisis. Banks have said the deals were appropriate for the issuers and that no one could have predicted the broad financial collapse that put pressure on the transactions.

http://www.nytimes.com/2010/08/06/business/06denver.html?_r=1&hp

[Roland99]

20. "I can gitcha in this here new pick 'em up truck fer only $199/mo"

[TalkingDog]

25. In other words, it was....say it with me now.....

"UNEXPECTED"

[Festivito]

19. Debt: 08/04/2010 13,302,301,677,300.10 (UP 663,860,149.15) (Wed)

(Up a little. Good day.)
A day off. Paperwork, paperwork, paperwork.
(Debt under Obama seems to jump up big then drop slowly maybe up a little and down a little for days--repeat.)
= Held by the Public + Intragovernmental(FICA)
= 8,771,791,514,324.99 + 4,530,510,162,975.11
UP 329,380,791.87 + UP 334,479,357.28

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 310-Million person America.
If every American, man, woman and child puts in $3.23 THAT'S 1B$, and $3,227.76 makes 1T$.
A family of three: Mom, Dad, Child: $9.68, ABOUT TEN BUCKS for a 1B$ 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 13 seconds we net gain another American, so at the end of the workday of the report, there should be 309,812,670 people in America.
http://www.census.gov/population/www/popclockus.html ON 04/09/2010 15:49 -> 309,034,742
Currently, each of these Americans owe $42,936.6.
A family of three owes $128,809.79. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 23 reports in the last 30 to 33 days.
The average for the last 23 reports is 5,520,475,897.19.
The average for the last 30 days would be 4,232,364,854.51.
The average for the last 33 days would be 3,847,604,413.19.
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$/day.
There were 211 reports in 308 days of FY2010 averaging 6.60B$ per report, 4.52B$/day.
Above line should be okay

PROJECTION:
There are 900 days remaining in this Obama 1st term.
By that time the debt could be between 14.5 and 18.0T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
08/04/2010 13,302,301,677,300.10 BHO (UP 2,675,424,628,387.02 so far since Obama took office.)

FISCAL YEAR DEBT CHANGE, Sep 30 prior year to Sep 30 named year:
(One "* " for each 40B$ reached)
FY1994 +0,281,261,026,873.94 ------------* * * * * * * WJC
FY1995 +0,281,232,990,696.07 ------------* * * * * * * WJC
FY1996 +0,250,828,038,426.34 ------------* * * * * * WJC
FY1997 +0,188,335,072,261.61 ------------* * * * WJC
FY1998 +0,113,046,997,500.28 ------------* * WJC
FY1999 +0,130,077,892,735.81 ------------* * * WJC
FY2000 +0,017,907,308,253.43 ------------WJC
FY2001 +0,133,285,202,313.20 ------------* * * C&B
01-WJC +0,053,598,528,417.78 ------------* WJC 31% of FY, 40% of FY-Debt
01-GWB +0,079,686,673,895.42 ------------* GWB 69% of FY, 60% of FY-Debt
FY2002 +0,420,772,553,397.10 ------------* * * * * * * * * * GWB
FY2003 +0,554,995,097,146.46 ------------* * * * * * * * * * * * * GWB
FY2004 +0,595,821,633,586.70 ------------* * * * * * * * * * * * * * GWB
FY2005 +0,553,656,965,393.18 ------------* * * * * * * * * * * * * GWB
FY2006 +0,574,264,237,491.73 ------------* * * * * * * * * * * * * * GWB
FY2007 +0,500,679,473,047.25 ------------* * * * * * * * * * * * GWB
FY2008 +1,017,071,524,649.92 ------------* * * * * * * * * * * * * * * * * * * * * * * * * GWB
FY2009 +1,885,104,106,599.30 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * B&O
09GWB +0,602,152,152,000.60 ------------* * * * * * * * * * * * * * * GWB 31% of FY, 32% of FY-Debt
09-BHO +1,282,951,954,598.70 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO 69% of FY, 68% of FY-Debt
FY2010 +1,392,472,673,788.40 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
Endof10 +1,650,170,538,742.75 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Linear Projection

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
07/15/2010 +047,740,634,202.02 ------------**********
07/16/2010 +000,234,726,558.99 ------------********
07/19/2010 -000,002,380,240.85 ----- Mon
07/20/2010 +000,028,467,145.72 ------------*******
07/21/2010 +000,002,455,391.44 ------------******
07/22/2010 +010,637,573,043.16 ------------**********
07/23/2010 -000,409,271,286.12 ---
07/26/2010 +000,027,014,896.10 ------------******* Mon
07/27/2010 +000,542,206,084.16 ------------********
07/28/2010 -000,094,171,033.04 ----
07/29/2010 +003,752,718,531.15 ------------*********
07/30/2010 +000,337,023,124.63 ------------********
08/02/2010 +069,233,337,488.16 ------------********** Mon
08/03/2010 -000,228,970,360.68 ---
08/04/2010 +000,329,380,791.87 ------------********

132,130,744,336.71 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=4492512&mesg_id=4492536

[Festivito]

26. Debt: 08/05/2010 13,310,887,351,665.80 (UP 8,585,674,365.70) (Thu)

(Up some. Good day.)
At the hospital. About to transfer to another one.
(Debt under Obama seems to jump up big then drop slowly maybe up a little and down a little for days--repeat.)
= Held by the Public + Intragovernmental(FICA)
= 8,777,035,305,005.64 + 4,533,852,046,660.16
UP 5,243,790,680.65 + UP 3,341,883,685.05

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 310-Million person America.
If every American, man, woman and child puts in $3.23 THAT'S 1B$, and $3,227.69 makes 1T$.
A family of three: Mom, Dad, Child: $9.68, ABOUT TEN BUCKS for a 1B$ 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 13 seconds we net gain another American, so at the end of the workday of the report, there should be 309,819,316 people in America.
http://www.census.gov/population/www/popclockus.html ON 04/09/2010 15:49 -> 309,034,742
Currently, each of these Americans owe $42,963.39.
A family of three owes $128,890.16. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 24 reports in the last 30 to 34 days.
The average for the last 24 reports is 5,648,192,500.05.
The average for the last 30 days would be 4,518,554,000.04.
The average for the last 34 days would be 3,986,959,411.80.
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$/day.
There were 212 reports in 309 days of FY2010 averaging 6.61B$ per report, 4.53B$/day.
Above line should be okay

PROJECTION:
There are 899 days remaining in this Obama 1st term.
By that time the debt could be between 14.5 and 18.0T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
08/05/2010 13,310,887,351,665.80 BHO (UP 2,684,010,302,752.72 so far since Obama took office.)

FISCAL YEAR DEBT CHANGE, Sep 30 prior year to Sep 30 named year:
(One "* " for each 40B$ reached)
FY1994 +0,281,261,026,873.94 ------------* * * * * * * WJC
FY1995 +0,281,232,990,696.07 ------------* * * * * * * WJC
FY1996 +0,250,828,038,426.34 ------------* * * * * * WJC
FY1997 +0,188,335,072,261.61 ------------* * * * WJC
FY1998 +0,113,046,997,500.28 ------------* * WJC
FY1999 +0,130,077,892,735.81 ------------* * * WJC
FY2000 +0,017,907,308,253.43 ------------WJC
FY2001 +0,133,285,202,313.20 ------------* * * C&B
01-WJC +0,053,598,528,417.78 ------------* WJC 31% of FY, 40% of FY-Debt
01-GWB +0,079,686,673,895.42 ------------* GWB 69% of FY, 60% of FY-Debt
FY2002 +0,420,772,553,397.10 ------------* * * * * * * * * * GWB
FY2003 +0,554,995,097,146.46 ------------* * * * * * * * * * * * * GWB
FY2004 +0,595,821,633,586.70 ------------* * * * * * * * * * * * * * GWB
FY2005 +0,553,656,965,393.18 ------------* * * * * * * * * * * * * GWB
FY2006 +0,574,264,237,491.73 ------------* * * * * * * * * * * * * * GWB
FY2007 +0,500,679,473,047.25 ------------* * * * * * * * * * * * GWB
FY2008 +1,017,071,524,649.92 ------------* * * * * * * * * * * * * * * * * * * * * * * * * GWB
FY2009 +1,885,104,106,599.30 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * B&O
09GWB +0,602,152,152,000.60 ------------* * * * * * * * * * * * * * * GWB 31% of FY, 32% of FY-Debt
09-BHO +1,282,951,954,598.70 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO 69% of FY, 68% of FY-Debt
FY2010 +1,401,058,348,154.10 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
Endof10 +1,654,971,835,198.21 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Linear Projection

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
07/16/2010 +000,234,726,558.99 ------------********
07/19/2010 -000,002,380,240.85 ----- Mon
07/20/2010 +000,028,467,145.72 ------------*******
07/21/2010 +000,002,455,391.44 ------------******
07/22/2010 +010,637,573,043.16 ------------**********
07/23/2010 -000,409,271,286.12 ---
07/26/2010 +000,027,014,896.10 ------------******* Mon
07/27/2010 +000,542,206,084.16 ------------********
07/28/2010 -000,094,171,033.04 ----
07/29/2010 +003,752,718,531.15 ------------*********
07/30/2010 +000,337,023,124.63 ------------********
08/02/2010 +069,233,337,488.16 ------------********** Mon
08/03/2010 -000,228,970,360.68 ---
08/04/2010 +000,329,380,791.87 ------------********
08/05/2010 +005,243,790,680.65 ------------*********

89,633,900,815.34 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=4494012&mesg_id=4494117

[DemReadingDU]

21. Goldman Faces Technology Issue With Spinoff

8/5/10 Goldman Faces Technology Issue With Spinoff

Goldman Sachs' plan to spin off its proprietary trading business has run into an unexpected technology glitch that has sent the Wall Street firm scrambling to hire computer programers and project managers.

As reported earlier Thursday by CNBC, Goldman could spin off part of its prop trading operations into an independent hedge fund as soon as Friday. The move is an attempt to comply with new rules limiting Wall Street firms from betting their own money in financial markets.

The problem is that Goldman's traders use a special computer language called "Slang" that was developed for internal use only. That language plays a vital role in Goldman's prop trading, including it's computer driven high-frequency trading.

Goldman has decided the new spin-off won't get the rights to Slang, according to a person familiar with the matter. As a result, Goldman is rushing to translate its trading programs into a more standard computer code usable by the new spin-off trading company.

Recruiters around New York have been contacted to bring on new tech talent to rebuild Goldman's trading operations. The recruitment drive is cloaked in secrecy, however.

At initial stages, potential recruits are not even told that Goldman is the client. Goldman's spokesman could not be reached for comment.

http://www.cnbc.com/id/38584613

[Hugin]

22. This probably has more to do with "Slang" containing key-words and syntax that are...

an unflattering, but, accurate reflection of Goldman-Sach's true bottom feeding nature.

It wouldn't have anything to do with a "copyright" and it certainly doesn't have anything to do with "Technology".

[alterfurz]

24. e.g. Golden Sacks slang for TARP = "Taxpayer Ass-Reaming Program"

sorry, I'm just in a mood today...

[Po_d Mainiac]

28. +1

:thumbsup:

[Roland99]

23. 12:50 - Markets offering appropriate grieving sentiments

Dow 10,536 -139 -1.30%
Nasdaq 2,265 -28 -1.22%
S&P 500 1,111 -15 -1.33%
GlobalDow 1,898 -9 -0.48%
Gold 1,208 +9 +0.75%
Oil 80.93 -1.08 -1.32%

[Demeter]

27. And then a Miracle Occurs....

[neverforget]

29. seems to be happening a lot lately....is the PPT behind this?

[TheWatcher]

30. Mostly High Frequency Trading Black Boxes, Likely.

If this had been the PPT we would have been up 100 and CNBC would be hysterically orgasming that Permanent Prosperity is here.

This smacks of BS Algorithm Computer Trading Programs.

The Whole Market is nothing more than a Casino based on complete Bullshit, Speculation, Manipulation, and Fraud.

Best to pay attention to the reality around you.

You won't find any Answers in the Dow.

[neverforget]

32. The game is rigged and the house of cards is going to crash soon.

It amazes me watching the Dow through SMW everyday, that when bad news comes it out it falls but then a miracle happens and it comes back. At least that's the way it's been for a few months again. It seems to rocket back at 11am and again at 3pm if the 11am didn't do the trick. The game is rigged and we're getting fleeced.

[Demeter]

31. Who Else Would Have the Means and the Motive?