STOCK MARKET WATCH, Wednesday, May 4, 2011

[Pale Blue Dot]

Source: du

STOCK MARKET WATCH, Wednesday, May 4, 2011

AT THE CLOSING BELL ON May 3, 2011

Dow 12,807.51 +0.15 (+0.00%)
Nasdaq 2,841.62 -22.46 (-0.79%)
S&P 500 1,356.62 -4.60 (-0.34%)
10-Yr Bond... 3.26 +0.00 (+0.12%)
30-Year Bond 4.35 -.00 (-0.07%)

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Market Conditions During Trading Hours

Euro, Yen, Loonie, Silver and Gold

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

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

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

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

Read more: du

[Pale Blue Dot]

1. Today's Reports and drinking game - guess how wrong ADP will be.

May 04 07:00 MBA Mortgage Index 04/29 +4% NA NA -5.6%
May 04 07:30 Challenger Job Cuts Apr NA NA -38.6%
May 04 08:15 ADP Employment Change Apr 200K 200K 201K
May 04 10:00 ISM Services Apr 57.5 57.4 57.3
May 04 10:30 Crude Inventories 04/30 NA NA 6.156M

Read more: http://www.briefing.com/Investor/Public/Calendars/EconomicCalendar.htm#ixzz1LNeNWm76

[Po_d Mainiac]

6. Anul-ists always have the power of revision in this transitory world. n/t

[Demeter]

12. Any Excuse for Drinking Will Do Today

I've decided to put one cat down. With three litter boxes in the house, peeing on the carpet is not acceptable. I feel badly, but I think my sanity is worth something. This was a charity cat, taken in because her mistress couldn't have cats in the new apartment. The cat is old, at least 24 if my reckoning is any good, reduced to skin and bones, toothless, and probably senile. She's been affectionate and amusing, had as good a life as could be, but truly, I can't take any more. Something, anything has got to improve around here.

Working the polls yesterday, in an unheated room with everyone else saying they were fine with it, I went home at lunch and put my new winter boots (bought for next season) on my icy feet. It felt likely to snow. In May. With the flowering trees cautiously creeping into bloom. If it were warm, they would have burst forth...

The swans appear to be nesting. The co-op appears to be winding down.

Our old lawyers, the ones we pay for their services, are trying to tell other people to send the co-op's settlement to THEM, the really LOUSY settlement that they are so proud to boast of, so they can take their "fees" and send us whatever pennies remain--all without the benefit of invoicing, etc, which means subverting our accounting procedures and making us look like senile wards. If they don't stop, as we have ordered, I should think we have grounds to sue, and believe me, I'm more than ready for it. I have hated these bastards for 8 years now. And we have a good lawyer, finally, who could do a very competent job of it.

Things don't change ever, really. Putting Osama out of our national psychic misery (when he wasn't the real cause of it, anyway--the BFEE/Corporate lawlessness is the real source of that) may feel good to some, but it won't even stop the peeing on the carpet, if you get what I mean.

[Pale Blue Dot]

24. (((((Hug)))))

I know what you mean, Demeter.

[xchrom]

33. aw demeter --

:hug: sorry.

[DemReadingDU]

115. Hugs

You did what you could for the cat and gave her a good home.
:hug:

[Roland99]

118. :-( ... friend of mine is have feline issues

his schedule has changed a lot and his cat isn't taking that very well and is urinating on his bed, on clothes, on the carpet.

Looks like a visit to a safe shelter is coming up.

[Pale Blue Dot]

26. Job Cuts Fall 12% to 2011 Low: Challenger Report

Employers fired 12 percent less staff in April than they did in March and 5 percent less than they did in the same period last year, the latest job cut report released by global outplacement firm Challenger showed on Wednesday.

The report said employers announced plans in April to cut 36,490 jobs, the lowest monthly total of the year and the third lowest over the last 16 months.

Year-to-date, employers announced 167,239 job cuts, 24 percent fewer than the 219,509 layoffs by the same point last year.

The report comes ahead of the closely-watched ADP private sector payrolls report, due at 8:15 am ET, and Friday’s key nonfarm payrolls report which will offer further clues on the health of the economy.

http://www.cnbc.com/id/42894153

[Demeter]

64. Who is left to fire?

Are we talking worthless nephews yet?

[AnneD]

74. Just wait until....

the education cuts numbers (laid off teachers) come in. This is a nation wide problem. Still have growth in student population however. Common sense tells me that all their education numbers will drop as teaching in classes becomes growd control.

The solutions....dummy down the test and teach to the test. Results-better scores and the loss of the joy of learning.

[rfranklin]

90. From what I have read, the tests keep ratcheting up under NCLB...

That way, no matter how much public schools improve, they will "fail." Thus, justification for vouchers and privitization. Meawhile, charter schools are proving to be real failures and are being given a pass. It's a massive attack on public education to steal public funds through privitization.

[AnneD]

99. You are preaching to the choir here...

but the message needs to be repeated until people start listening.

[DemReadingDU]

116. Because of state funding cuts, districts try to pass more levies

and the levies usually fail, people don't want to pay more in taxes.

Except in our district...the levies keep passing.
:eyes:

[hamerfan]

114. Exactly, AnneD

The education cuts are happening nation-wide, and when they get factored in, this "slump" really picks up momentum.
NCLB, indeed.

[Pale Blue Dot]

76. US Stock Futures Hold Narrow Losses After ADP Jobs Data

NEW YORK (Dow Jones)--U.S. stock futures clung to narrow losses on Wednesday after a survey of private-sector employment showed slightly weaker job growth than expected.

Stock futures initially weakened after Wednesday's jobs data, but then pared some of their losses.

Dow Jones Industrial Average futures fell 8 points to 12741, while Standard & Poor's 500-stock index futures lost 1 point to 1351 and Nasdaq 100 futures slipped 4 points to 2386. Prior to the data, Dow futures had been down 11 points, while S&P 500 futures edged down 2 points and Nasdaq 100 futures shed 6 points. Changes in futures do not always accurately predict stock moves after the market opens.

In the first of the week's labor market data points, Automatic Data Processing reported that the private sector had added 179,000 jobs in April, slipping beneath economists' estimates of 200,000 jobs added last month. On Friday, the government will release its monthly nonfarm payrolls report.

http://online.wsj.com/article/BT-CO-20110504-709000.html

[Pale Blue Dot]

112. U.S. ISM Services Index Decreased to 52.8 in April From 57.3

The Institute for Supply Management’s index of non-manufacturing companies slumped to 52.8 in April, the lowest since August, from 57.3 a month earlier.

The median forecast of 73 economists surveyed by Bloomberg News was 57.5. Readings greater than 50 signal growth for about 90 percent of the economy. Estimates ranged from 54.5 to 59.

The Tempe, Arizona-based group’s index of the industry, which accounts for about 90 percent of the economy, averaged 56.1 in the five years to December 2007, when the last recession began.

The ISM services survey covers industries that range from utilities and retailing to health care, finance and transportation. Today’s report follows the group’s May 2 figures that showed manufacturing grew more than forecast in April, driven by gains in exports and inventories.

http://www.bloomberg.com/news/2011-05-04/u-s-ism-services-index-decreased-to-52-8-in-april-from-57-3.html

This news seems to have sent stocks reeling.

[Pale Blue Dot]

2. Oil hovers near $111 after US crude supply jump

SINGAPORE – Oil prices hovered near $111 a barrel Wednesday in Asia as a report showed U.S. crude supplies rose more than expected last week, suggesting growth in demand could be waning.

Benchmark crude for June delivery was down 4 cents at $111.01 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell $2.47 to settle at $111.05 on Tuesday.

In London, Brent crude for June delivery was up 22 cents to $122.67 a barrel on the ICE Futures exchange.

The American Petroleum Institute said late Tuesday that crude inventories rose 3.2 million barrels last week, more than the increase of 1.7 million barrels predicted by analysts surveyed by Platts, the energy information arm of McGraw-Hill Cos.

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

[xchrom]

15. No Carter Echo for Obama as Gasoline Cost May Ease for Campaign

http://www.businessweek.com/news/2011-05-04/no-carter-echo-for-obama-as-gasoline-cost-may-ease-for-campaign.html

May 4 (Bloomberg) -- Soaring gasoline prices have eroded President Barack Obama’s job-approval ratings and exposed him to political attacks even as futures markets, the chairman of the Federal Reserve and some analysts say prices may soon peak.

House Speaker John Boehner, an Ohio Republican, underlined the growing political pressure on Obama last week, saying the president “certainly isn’t gonna win” re-election next year if gasoline prices, now close to a national average of $4 per gallon, reach $5 or $6.

Yet on the New York Mercantile Exchange, gasoline for September delivery settled yesterday at 4.1 percent below the June contract, Bloomberg data show.

“I believe prices will stabilize and that $4 a gallon will be an outlier rather than an average during driving season,” Tom Kloza, chief analyst with the Oil Price Information Service, wrote in an e-mail.

[xchrom]

25. BP to pay $25 million fine for 2006 North Slope spills

http://seattletimes.nwsource.com/html/localnews/2014950825_bpsettlement04m.html

The British corporation at the center of last year's Gulf of Mexico spill will pay a $25 million penalty for the largest oil spill ever on Alaska's North Slope and spend an additional $60 million upgrading its oversight of corroded pipelines in Alaska.

The U.S. Department of Justice and the Environmental Protection Agency on Tuesday reached a settlement agreement with BP Alaska, a subsidiary of BP America, for two back-to-back spills in 2006. The largest of the spills, in March of that year, dumped 212,000 gallons of oil onto the tundra from a worn-out section of pipe that hadn't been properly inspected in years.

"I think this is very significant," said Karen Loeffler, U.S. attorney for the state of Alaska. "The settlement makes clear that those companies that transport hazardous materials have to put in the money and put up the plans to maintain the integrity of their systems so that we don't have oil spills."

BP Alaska spokesman Steve Rinehart said in an email, "We believe the terms of the agreement are fair."

[Roland99]

92. Oh...so reality is actually hitting? The dollar is still falling but now so are oil prices

:crazy: :silly: :crazy:

[Pale Blue Dot]

3. U.S. Stock-Index Futures Are Little Changed Before Services, Payrolls Data

U.S. stock-index futures were little changed as investors awaited reports on service-industries growth and company payrolls.

Green Mountain Coffee Roasters Inc. (GMCR) surged 17 percent in German trading after boosting its 2011 earnings forecast and announcing plans to sell common stock in a public offering. First Solar Inc. (FSLR), the world’s largest maker of thin-film solar modules, tumbled 7.8 percent after forecasting lower sales for the year.

Futures on the Standard & Poor’s 500 Index expiring in June increased 0.1 percent to 1,353.7 at 10:14 a.m. in London. Dow Jones Industrial Average futures gained 0.2 percent to 12,770 and Nasdaq-100 Index futures were little changed at 2,390.25.

Service industries in the U.S. probably accelerated in April, a sign the biggest part of the economy is weathering increases in fuel prices, economists said before an Institute of Supply Management report due at 10 a.m. New York time.

http://www.bloomberg.com/news/2011-05-04/u-s-stock-index-futures-are-little-changed-before-services-payrolls-data.html

[xchrom]

9. Wall Street stock index futures point to gains

http://www.reuters.com/article/2011/05/04/us-markets-stocks-idUSTRE74120Z20110504

(Reuters) - Stock index futures pointed to a slightly higher open for Wall Street on Wednesday, reversing the previous session's losses, with futures for the S&P 500, Dow Jones futures and Nasdaq futures up 0.1-0.2 percent by 4:49 a.m. ET.

U.S. stocks fell on Tuesday as traders booked profits from a recent rally, with the S&P 500 .SPX down for the second day after hitting its highest level in nearly three years on Friday.

The focus will be on economic data later in the session, including the ISM non-manufacturing index for April due at 1400 GMT and forecast to tick-up to 57.4 from 57.3 on the back of growth in its business activity index, in a confirmation of modest economic recovery.

Data from the labor market, however, was likely to point to modest slowing, with the ADP Employment report at 1215 GMT expected to show private jobs grew by 198,000 in April compared with 201,000 a month earlier.

[Pale Blue Dot]

4. Silver Slumps on Higher Margins; Gold Drops on Report of Soros Fund Sales

Silver futures dropped, heading for the biggest three-day fall since March 2008, as an increase in margin requirements on the Comex in New York drove investors away. Gold also fell after a report that Soros Fund Management LLC may have cut holdings.

Silver for July delivery slumped as much as 5 percent to $40.465 per ounce, after losing 7.6 percent yesterday and 5.2 percent on May 2. The metal was at $41.175 at 2:01 p.m. in Singapore, taking losses over the three days to 16 percent. Immediate-delivery gold fell 0.2 percent to $1,533.28 an ounce, also lower for a third session.

CME Group Ltd., Comex’s owner, said this week that the minimum amount of cash that must be deposited when borrowing from brokers to trade silver futures will rise to $16,200 per contract at the close of business yesterday, from $14,513. A year ago, the margin was $4,250.

“Silver is often the lead indicator for changes in trends, or at least for corrections,” David Wilson, an analyst at Societe Generale SA, wrote in a note. After futures rallied to a record $50.35 an ounce in January 1980, prices dropped 78 percent in four months.

http://www.bloomberg.com/news/2011-05-04/silver-slumps-for-third-day-as-increased-margins-spur-sales-by-investors.html

[Demeter]

14. I have a question about precious metal paper

Does it ever go away? Can it evaporate like mortgages? Does it unwind, or just float around like radioactive strontium, piling up in mammal bones and portfolios?

[quaker bill]

22. If it is not margined futures

you can probably get your silver in some manner, for what it will be worth. All the recent gains are speculation driven and are about to evaporate. Supply exceeds demand for all uses, to include investment and nuministics, by a couple 100 million ounces a year. (and it has for a long time) The real value is somewhere in the range of $10 - $20 an ounce. Much lower than $10 and the cost of production will hinder supply. Anything over $20 is utter speculative fantasy.

[westerebus]

49. Netflix p/e 66.

Euro @ 1.48 +.

Regular gas 3.85 a gallon.

Silver $10 to $20? OK then..

[Po_d Mainiac]

62. ZIRP is transitory...maybe

And PM's on 'loan' are only counted once.:thumbsup:

[quaker bill]

127. Watch and learn.

People in the know have been shorting silver at $25 for well over a week now. The big boys are liquidating their holdings. The commodity has minimal intrinsic value. The 10 year average silver to gold ratio is 60:1. With gold at $1,500, 60:1 makes silver $25. Gold will be drug down by the bursting of this bubble. My dollar says $20 is not an absurd price. Panic selling hasn't even started yet, capitulation is a good way off.

Commodities is a tough business. If you have been buying of late, I am sorry. I am holding physical silver purchased largely at $10 to $16. I quit all buying in the 20s. I literally roll my own (wire and sheet stock) and make jewelry with it. I have been doing this for a very long time. I sell the finished product at over $100. This works like a charm.

[quaker bill]

130. $37 perhaps $36 by days end.

still no support. The margin calls come rolling in....

[Po_d Mainiac]

52. Which explains why COMEX is making cash settlements?

Either we hit the top and silver is crashing because the world's financial systems are in fine shape. OR, Bob Moriaty is a hand puppet for the Morgue.

[Demeter]

63. Could you expand on that a bit? I still have the original question

and good morning, Po! Is it snowing Down East?

[Po_d Mainiac]

113. hmmm

"Silver Certificates" were a form of PM paper that are no longer honored. The fiat exchange rate for an ETF could crash if enough selling hits the marketplace in a short order of time, or it turned out that the vault was an echo chamber. Those holding at the end would probably not argue that their wealth ‘evaporated’

But physical can also 'go away' to an extent. Approx 15Kg of Ag goes into a cruise missile. Kinda difficult to recover/recycle much after a launch though. The same could be said about man made satellites. All heavily circulated silver coins have lost mass due to wear.

..

The last bit of snow in the yard, went away Monday afternoon. Ironic that Monday eve, the last stick in the wood shed went into the stove. Iris's are up, and fiddleheads are on the menu

[DemReadingDU]

117. Paper burns

which is what will likely happen to precious metal paper.

[xchrom]

65. Silver hits three-week low, drags down gold

http://www.reuters.com/article/2011/05/04/us-markets-precious-idUSTRE73786N20110504

(Reuters) - Silver fell to a three-week low day on Wednesday and gold eased as precious metals came under pressure to correct after a strong rally in the last few weeks.

U.S. silver futures have lost 14 percent over the past four sessions, wiping out gains from the previous three weeks that took the price to a 31-year top just below $50 on April 25.

U.S. July silver futures fell to $40.88 an ounce by 1133 GMT, extending an 8-percent slide on Tuesday, when CME Group (CME.O) raised margin requirements on silver futures for the third time in a week.

Spot silver was bid at $40.88 versus $41.64 in New York late on Tuesday. It earlier fell to $40.30 an ounce, its lowest since mid-April.

[xchrom]

5. europe: Europe stocks extend losses as miners, oils drop

http://www.reuters.com/article/2011/05/04/markets-europe-stocks-down-idUSLDE74318O20110504

May 4 (Reuters) - European stocks extended their losses on Wednesday around midday in a broad retreat led by mining and energy stocks, eclipsing robust results from BNP Paribas (BNPP.PA).

[xchrom]

7. UPDATE 2-Portugal faces recession, opposition meets lenders

http://www.reuters.com/article/2011/05/04/portugal-bailout-idUSLDE7430ST20110504

LISBON, May 4 (Reuters) - Portugal's main opposition party met European and IMF officials on Wednesday and said they would consider whether to back a 78-billion-euro bailout after a source said the terms would propel the economy into two years of recession.

Caretaker Prime Minister Jose Socrates announced late on Tuesday that Lisbon had reached a three-year bailout agreement with the European Union and International Monetary Fund after weeks of negotiations, becoming the third euro zone country to secure foreign assistance, after Greece and Ireland.

With elections due in a month, the backing of the opposition Social Democrats, who are ahead in the polls, for the bailout is crucial to guarantee that the EU signs off on the deal.

Carlos Moedas, a Social Democrat official, said a meeting on with officials from the lenders went well.

[xchrom]

8. FOREX-Euro up on sovereign demand, rate view hurts USD

http://www.reuters.com/article/2011/05/04/markets-forex-idUSLDE74318220110504

LONDON, May 4 (Reuters) - The euro rose against the dollar on Wednesday, edging closer to $1.50, with the U.S. currency under renewed pressure on expectations that U.S. interest rates will stay low in coming months.

The euro EUR= was up 0.3 percent at $1.4870, with demand from Asian sovereigns as well as European real money interest boosting the single currency. Traders cited talk of option barriers at $1.4950 and at $1.50 while large offers were said to be at $1.4930/35.

Market participants said the euro brushed off a widely expected announcement Portugal had secured a 78 billion euro bailout. Portugal is the third euro zone country to seek a bailout after Greece and Ireland.

Portugal sold three-month T-bills at higher yields on Wednesday, but that did little to ruffle euro bulls, traders said. .

[xchrom]

18. European Stocks Decline; Holcim, Vestas Drop, Actelion Gains

http://www.businessweek.com/news/2011-05-04/european-stocks-decline-holcim-vestas-drop-actelion-gains.html

May 4 (Bloomberg) -- European stocks declined as companies from Holcim Ltd. to Vestas Wind Systems A/S reported earnings that missed analysts’ estimates, overshadowing better than forecast profit at BNP Paribas SA and a rally at Actelion Ltd. Asian shares and U.S.-index futures fell.

Holcim slid 4.3 percent after the world’s second-biggest cement maker reported decreased profit as raw-material costs climbed. Vestas Wind Systems tumbled 8.6 percent after the largest wind-turbine maker reported a first-quarter net loss more than twice as big as the average analyst estimate. Actelion rallied 6.7 percent as Barclays Plc said punitive damages awarded against the pharmaceutical company are less than feared.

The Stoxx 600 slid 0.6 percent to 280.64 at 11:46 a.m. in London. The gauge in April had the biggest monthly increase so far this year as companies reported earnings that topped analyst estimates and the Federal Reserve maintained its pledge to keep interest rates low for an “extended period.”

“Given how many companies have both come in line or outperformed earnings expectations, it raises the bar of expectation and makes it harder for those companies yet to report to satisfy investors,” said Joshua Raymond, a market strategist at City Index Ltd. in London. “The weaker equity session we are seeing is more about profit taking than anything else” after the recent rally.

[xchrom]

72. House prices fell 0.2 percent in April - Nationwide

http://uk.reuters.com/article/2011/05/04/uk-uks-nationwide-house-prices-idUKTRE7430ZA20110504

(Reuters) - House prices unexpectedly fell in April after two months of strong growth, pointing to a trend of stagnant prices as household spending remains under pressure, mortgage lender Nationwide said on Wednesday.

Nationwide said house prices dropped by 0.2 percent last month after a 0.5 percent rise in March, the biggest seasonally adjusted fall since November last year and one that means average house prices are now 1.3 percent lower than a year ago.

"The market is fairly static, as has been the case since last summer," said Nationwide's chief economist, Robert Gardner.

"There is still little evidence to suggest that price declines will accelerate in the months ahead," he added.

[xchrom]

77. BMW cruises through first quarter on China demand

http://uk.reuters.com/article/2011/05/04/us-bmw-idUKTRE74316420110504

(Reuters) - BMW (BMWG.DE) outshone its rivals with a sharp increase in first quarter sales, fueled by demand for the German group's cars from China and the United States.

BMW, which also owns the Rolls-Royce and Mini brands, said first-quarter operating profit, rose more than fourfold to 1.90 billion euros ($2.8 billion), exceeding the average analyst estimate of 1.51 billion in a Reuters poll.

BMW's strong results echo those of Volkswagen (VOWG_p.DE) and Daimler (DAIGn.DE) whose growth was also driven by demand for cars in emerging markets such as China.

But BMW's auto business proved more profitable.

[xchrom]

86. Standard Chartered cuts jobs, pledges 'firm grip' on costs

http://www.arabianbusiness.com/standard-chartered-cuts-jobs-pledges-firm-grip-on-costs--397777.html

Standard Chartered, the UK bank that makes three-quarters of its profit in Asia, cut jobs to control costs in the first quarter as competition raised pressure on profitability.

Overall margins were stable and the bank has a “firm grip” on expenses, with the number of employees dropping by 800 from 85,000 at the end of last year, Finance Director Richard Meddings told reporters on a conference call on Wednesday.

The bank still plans to add 1,000 employees by the end of the year, he said. The shares fell.

“Costs remain well controlled,” said Meddings. “We have made an excellent start to the year.”

[xchrom]

10. The emissions omitted

http://www.economist.com/node/18618451

WHICH do you value: production or consumption? The preference has long defined economic questions ranging from tax policies to development. Now it matters in national carbon accounting too. If you look at production, you count the carbon that comes from a territory’s smokestacks, exhaust pipes and forest fires. With consumption you tot up the carbon emitted when providing the goods and services bought there. Looked at that way, international trade is a carbon-dioxide pipeline moving responsibility for its effects on the climate from place to place.

ust over a quarter of all industrially emitted carbon moves about in this way, up from a fifth in 1990. The net flow is from the developing to the developed world. So in terms of consumption the rich countries are still the world’s biggest emitters (see chart). New research shows that the flow’s volume is rapidly increasing.

Glen Peters at the Centre for International Climate and Environmental Research, Oslo, with colleagues elsewhere, has looked at the carbon content of international trade since 1990—the benchmark year for measuring emissions under the UN’s Kyoto protocol. The annual growth of CO2 emissions from exported products was 4.3%—faster than GDP or carbon emissions in general, slower than world trade. But it was 17% for trade between developed countries (those expected to meet the Kyoto emissions cuts) and the rest of the world, rising from 400m tonnes in 1990 to 1.6 billion in 2008.

[xchrom]

11. misty aqua

http://www.economist.com/blogs/babbage/2011/05/technology_monitor

IN THE dry desert on the west coast of Namibia, where the annual average rainfall is a meagre 40mm, the Namib beetle (Stenocara gracilipes) has evolved a unique mechanism to drink. It collects moisture from the early-morning fog that is produced when ocean breezes from the Atlantic collide with the hot desert air. Drawing inspiration from the beetle’s fog-harvesting trick, Shreerang Chhatre, a graduate student at the Massachusetts Institute of Technology, and his colleagues have developed a simple and inexpensive way to produce drinking water.

The Namibia mist rapidly dissipates once the sun rises, so the beetle has just a brief opportunity to collect water. The insect typically finds a ridge of sand and faces the breeze, angling its lower body upwards with its specially adapted wings outstretched. The wings have bumps made of a hydrophilic substance that attracts minute water droplets. As they accumulate, the droplets grow larger until their weight causes them to run off into troughs in the beetle’s wings. These troughs are covered with a waxy water-repelling substance which has the effect of rolling the droplets down the beetle’s inclined body towards its mouth. The insect then promptly drinks them.

Fog harvesting is not a new idea. FogQuest, a Canadian charity, has been installing devices using a plastic mesh to catch water droplets in developing countries for more than a decade. Mr Chhatre says what he and his colleagues have done is to increase the efficiency of water collection by using a variety of surface coatings.

[xchrom]

13. Drug Shortages Spreading in U.S., Endangering Cancer, Heart Attack, Leukemia Patients

http://www.allgov.com/Controversies/ViewNews/Drug_Shortages_Spreading_in_US_Endangering_Cancer_Heart_Attack_Leukemia_Patients_110503

merican hospitals and healthcare practitioners are running short of important medications, depriving patients of potentially lifesaving therapies.

The shortage of drugs is considered “unprecedented,” and threatens the well-being of those dealing with cancer, heart attacks, accidents and other serious conditions.

Last year, 211 medications became scarce—a record. This number is triple of what it was in 2006. Among the medications affected are some mainstays of emergency care, such as morphine, norepinephrine and electrolytes. Another drug, cytarabine, is an important treatment for acute myeloid leukemia, the use of which can make the difference between life and death.

[Demeter]

16. Thank you, Corporate Cronies

Especially Pfizer, which has taken more US production lines out of business than any other....with the blessings of DC.

[xchrom]

19. it's totally weird.

and it'll all be disconnected in the mind of the public.

[Demeter]

36. Takeovers spark shortages of drugs

US pharmacists reported more than 89 shortages of products in the first three months of this year alone, sparking fears that lives could be put at risk

Read more >>
http://link.ft.com/r/UXDMSS/EW71C0/9MEOW/5CH9KH/A70YRR/CM/t?a1=2011&a2=5&a3=4

[Demeter]

17. Dilbert Explains: US Business Model for the New Century

[Demeter]

20. Solar Power: Smaller, Cheaper, on the Rise

http://www.thefiscaltimes.com/Articles/2011/05/01/Solar-Power-Smaller-Cheaper-on-the-Rise.aspx

Last fall, a Church of the Brethern less than ten miles from the nation’s capital threw the switch on 99 solar panels on its south-facing inclined roof, turning itself from a coal-consuming electricity user into a sunlight-consuming electricity manufacturer.

Not only did the University Park, Md., church sharply cut the price it pays for electricity, it sells about a third of its production back to the local utility, the outage-plagued Potomac Electric Power Co., which in turn resells it to the church’s neighbors. The project is owned and financed by church members and local residents, who will earn a solid 7 to 9 percent return on their $139,000 investment over the next two decades from the installation.

“The production is on target and we’re doing pretty well,” said David Brosius, president of University Park Community Solar, LLC. “We’re producing well above what the church needs so it goes back into the grid.” ...MORE

[Fuddnik]

83. As usual, our glorious Florida Legislature has it exactly bass-ackwards.

A bill breezing through the chambers would allow you to pay the utility companies to take "waste" electricity off of your hands for a small fee.

And no, I'm not joking.

Under current law, they could pay you a fraction of wholesale price for excess. But, I guess that's not enough for the greedy bastards, and they want you to pay them.

[Demeter]

101. Why Do You Stay There?

In fact, I think we should form a new compact, and move to....Venezuela, or Brazil. The Mayflower 2.

[Fuddnik]

126. Love the climate, hate the politicians.

That, and an underwater mortgage. It's like being marooned in paradise.

All I can hope for is a Cat 5 hurricane leveling the place this summer, and collecting the insurance.

[Demeter]

129. Well, that's better than waiting for someone to die, I suppose

[Demeter]

21. Make Wall St. Pay for the Catastrophe They Caused: New Bill Would Fine Banks $20,000 for Each Forclo

IT'S A NICE DREAM, BUT IT WILL NEVER HAPPEN. THOSE ZOMBIES SHOULD HAVE BEEN PUT OUT OF OUR MISERY 3 YEARS AGO....IF NOT SOONER

http://www.alternet.org/story/150796/make_wall_st._pay_for_the_catastrophe_they_caused%3A_new_bill_would_fine_banks_%2420%2C000_for_each_forclosure?akid=6909.227380.WkAT4n&rd=1&t=8

Wall Street's predatory lending practices are responsible for the mess we're now in. Why make severe cuts to state budgets even as Wall Street keeps making bank?

WHY INDEED?

...A bill sponsored by Assemblyman Bob Blumenfield (Democrat, Los Angeles) -- the Foreclosure Mitigation Fee (AB 935), which is currently going through legislative hearings - would require banks to pay their share of foreclosure costs. Backed by a broad coalition of consumer, community and labor groups, the bill would impose a $20,000 fine on banks for each foreclosure.

The $12 billion revenue over next two years would go entirely to local communities in order offset the multiple costs borne by our neighborhoods because of foreclosures and shared between public safety, public education, local governments, redevelopment activities and small businesses.

Los Angeles County alone will face an estimated 381,461 foreclosures through 2012, costing local governments $918 million in lost property taxes and $2.8 billion to pay for the problems. Riverside and San Bernardino counties have been particularly hard hit by the foreclosure earthquake. But no county, city, or small town in California has been spared the devastation.

Indeed, the foreclosure tsunami and the housing market crash are the primary causes of the severe budget crisis facing California's municipalities and counties, forcing local officials to slash services and lay off tens of thousands of employees...

[xchrom]

27. you're right - it'll never happen - but it's what should happen.

'you broke it - you pay for it'.

an old way of doing business -- that seems very sound to me in this day and age.

[Demeter]

23. EU Willing to Sacrifice Hedge Fund Jobs to Clean Up Industry

http://www.nakedcapitalism.com/2010/03/eu-willing-to-sacrifice-hedge-fund-jobs-to-clean-up-industry.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+NakedCapitalism+%28naked+capitalism%29

The EU seems unintimidated by various threats the hedge fund and private equity fund industry have tried to make to forestall efforts to restrict the activities of those firms. The EU proposed both limiting the ability of EU nationals to invest in non-EU funds, and the ability of non-EU players to operate within the EU.

The idea that any government dare tell the moneybags what to do is a bit of a stunner to the industry, which has gotten used to having its way in the US and UK. But despite the loud noises from the industry, there has been no change in the stance of the Europeans.

Indeed, it gets even better. An EU parliamentarian who is the rapporteur on the proposed reforms, in effect said that what was at stake was 3000 hedge fund jobs….in the UK. That’s a rather pointed way of saying the EU thinks it has nothing to lose via this change....

IVES COMMENTARY IS FRESH MEAT

[xchrom]

28. Williams-Sonoma whips up new strategy

http://seattletimes.nwsource.com/html/businesstechnology/2014950367_williamssonoma04.html

Williams-Sonoma, the 55-year-old housewares chain known for its meticulously arranged stores and baking demonstrations, is cooking up a new strategy: remaking itself as an Internet company.

Web orders are already the fastest-growing source of revenue for the San Francisco-based company, and now it's preparing to make its e-commerce sites global by the end of next month, Chief Marketing Officer Patrick Connolly said last week. Williams-Sonoma, which also owns Pottery Barn and West Elm, will invest tens of millions in the project.

"We are absolutely obsessed with the Web right now," Connolly said. By the end of next month, the company's e-commerce site will go live in more than 75 countries.

Brought over from running Pottery Barn in 2010, one of President and CEO Laura Alber's top aims was to beef up Internet offerings, especially in light of the housing downturn and recession

[xchrom]

29. $645 for $12.51 spare part? Boeing gives Army refund

http://seattletimes.nwsource.com/html/businesstechnology/2014950380_boeingcopter04.html

Boeing charged the Army excessive prices for helicopter spare parts, including $644.75 for a tiny, black plastic motor gear that cost another Pentagon agency $12.51, according to a report by the Defense Department's Inspector General.

Earlier this year, the company refunded $556,006 on the "spur gear" after an audit draft was issued.

The second-largest defense contractor also issued a $76,849 Army refund for a dime-sized, plastic "roller assembly" that costs $7.71. Boeing charged the Army $1,678.61 apiece.

Both parts are installed on the CH-47 Chinook.

[Demeter]

30. Mexican central bank buys 100 tonnes of gold

The central bank of Mexico bought nearly 100 tonnes of gold in February and March, the latest emerging market country to turn to bullion as a means of diversifying away from the faltering dollar.

The purchase, reported on the Bank of Mexico’s website in the International Monetary Fund’s statistics on international reserves, is one of the largest gold purchases by a central bank in recent history. The gold, worth $4.6bn at current prices, is equivalent to about 3.5 per cent of annual mined output.

Read more >>
http://link.ft.com/r/BLH300/UUF485/MJTKN/NSKC1S/728YH6/B7/t?a1=2011&a2=5&a3=4

OH, THE IRONY! BERNANKE IS PUTTING THE WORLD BACK ON A GOLD STANDARD BY DESTROYING THE US DOLLAR...

[Fuddnik]

89. Why do I get this nagging feeling that taxpayers are about to get the shiv again?

Speculators and banks run up a big bubble in gold, and right around the peak, governments and small investors keep buying more.

Then they unload it all, and "pop" goes the weasel.

[Demeter]

103. I doubt that anyone will "unload" gold

unless you mean paper gold. It will be sold only under duress.

[AnneD]

122. Last time I went in to ....

my trusted dealer, I went in on an off day so we had a chance to talk. He said it is wall to wall on Saturdays-all day long. He said he had many buyers and very few sellers. He is getting lots of out of state sales.

This buyer is not giving up physical posession of hers. As I have said before, I sleep much better at night. I am not a gold bug per se but I have done very well with my metals. People in this country have trouble wrapping their mind around the fact that fiat money, even the USD can hit the crapper. I view mine as an insurance policy. It will keep up with inflation at best and at worst well-I can always cash it back in, even if I take a hair cut on it.

I have some time to kill on Saturday so I will bring the guys :donut: and get some info and report back to you guys.

[xchrom]

31. india: Nifty ends lower for 7th consecutive day; ACC, Ambuja crack

http://www.moneycontrol.com/news/local-markets/nifty-ends-lower-for-7th-consecutive-day-acc-ambuja-crack_540526.html

Equity benchmarks were extremely volatile in trade on Wednesday, before shutting shop with nearly half a percent cut. It was looking like a nice recovery just one hour before the closing trade but that could not sustain for long. The Sensex shed more than 1,100 points in last seven sessions.

Rate tightening measures taken by RBI in a policy meeting yesterday to contain rising inflation have still some impact on rate sensitives barring some banks and capital goods shares today.

Midcap infrastructure and non-banking finance companies' shares took huge beating today as well. Reserve Bank of India had hiked repo and reverse repo rate by 50 basis points each yesterday.

Anish Damania of Emkay Global Financial Services said some pain was expected to continue.

[xchrom]

54. Cross border tax cases won't impact FDI inflows, says CBDT

http://www.moneycontrol.com/news/business/cross-border-tax-cases-wont-impact-fdi-inflows-says-cbdt_540554.html

Cross border tax cases have been in vogue for the past two years. There have been a number of high profile cases like Vodafone-Essar, Idea-AT&T, Vedanta-Sesa Goa and Fosters-SabMiller to name a few, that have been under the tax scanner. But this is not impacting the foreign direct investment in India, chairman of the Central Board of Direct Taxes (CBDT) Sudhir Chandra said. (Did you read: CBDT fighting many fires)

In fact, a refund of Rs 74,000 crore had been issued in financial year 2011, which is 70% higher than last year, he pointed out, adding, "We have exceeded revised direct tax target despite issuing big refunds."

[xchrom]

56. Yes Bank hikes base rate, BPLR by 0.5%

http://www.moneycontrol.com/news/business/yes-bank-hikes-base-rate-bplr-by-05_540544.html

A day after the Reserve Bank hiked its key short-term lending and borrowing rates by 0.5% each, private sector bank, Yes Bank, today raised its base rate and benchmark prime lending rate by 0.5% to 9.50% and 19%, respectively. The new rates will be implemented with immediate effect, the bank said in a press release.

In response to the increase in the cost of funds and keeping in view market conditions, the bank has decided to increase both its base rate and BPLR by 0.5% each, it said.

The bank's Founder, Managing Director & CEO, Rana Kapoor, said, "to further the monetary policy transmission of the Reserve Bank of India, Yes Bank has increased its base rate and PLR by 50 basis points each." The private lender also welcomed the RBI's move to increase interest on savings account deposits by 0.5% to 4%.

[xchrom]

58. India gold trades flat; physical traders continue to stock

http://www.moneycontrol.com/news/commodities/india-gold-trades-flat-physical-traders-continue-to-stock_540566.html

India gold futures recovered partially to trade flat on Wednesday afternoon, after falling for two consecutive session from Saturday's record high, triggering frantic buying from physical traders ahead of Akshaya Tritiya on Friday.

"I must have sold 700-800 kgs from Monday. Since the prices are flat today, they are still on buying side," said a dealer with a state-run bullion importing bank in Mumbai.

The most-traded gold for June delivery on the Multi Commodity Exchange (MCX) was trading 0.05% higher at Rs 22,385 per 10 grams at 3:28 p.m. The contract had shed more than 2% in the previous two sessions from the record high of Rs 22,428 struck on Saturday.

[xchrom]

110. Rising interest rates cloud Indian banks’ outlook

http://www.marketwatch.com/story/rising-interest-rates-cloud-indian-banks-outlook-2011-05-04?dist=markets

HONG KONG (MarketWatch) — Indian bank shares could remain under pressure in the near term on concern that the Reserve Bank of India’s aggressive monetary policy decision Tuesday would lift their borrowing costs via multiple channels.

The RBI shifted gears in its battle against inflation on Tuesday, raising its policy repurchase or repo rate by 0.50 percentage points to 7.25% — higher than the quarter-point hike most economists expected. The latest move comes on top of eight 0.25-point rate hikes since March 2010, with many economists calling for more rate increases in months ahead. Read full story on the RBI’s rate move Tuesday.

Some analysts say the central bank’s decision Tuesday represented a stronger dose of medicine to cool rising prices than the headline interest rate increase suggests, and that local lenders could be hurt, one way or the other.

“Overall, the tightening is more comprehensive than suggested by the repo rate alone," Royal Bank of Scotland economists Sanjay Mathur and Woon Khien Chia wrote in a report. “We think that banks will be forced to revise up their deposit rates by the full extent of the policy rate hike.”

[Demeter]

32. Banks anxious over Fed regulations

Wall Street banks are warning they may have to cede much of the European derivatives market to the likes of Deutsche Bank and Barclays Capital if US regulators follow through on proposals to apply new regulations extraterritorially.

The Federal Reserve and other banking regulators recently proposed rules that would force the non-US arms of US banks to collect collateral, or “margin” in the form of cash or securities, “without regard to whether the counterparty is located inside or outside the United States”.

Read more >>
http://link.ft.com/r/S4XZQQ/QF9VIL/WH2F8/NSK0TN/HDMJWB/SN/t?a1=2011&a2=5&a3=3

I WONDER HOW THE CAGED BIRD SINGS...

[Demeter]

34. Glencore eyes mid-$50bn valuation

Glencore is set to price its initial public offering at a level that will give the commodities trading house a valuation in the mid-$50bn range, below an average forecast of $62bn, according to people familiar with the deal.

The lower-than-expected pricing comes in spite of strong demand from blue-chip investors, who are set to take about a third of the $11bn IPO as cornerstone shareholders, and is designed to secure a strong share rally for the company after its flotation

Read more >>
http://link.ft.com/r/6NPSBB/IYWH81/06MUC/XTFW65/GK7S7Y/QR/t?a1=2011&a2=5&a3=3

TULIP BULBS, ANYONE?

[Demeter]

35. Abu Dhabi swoops for Glencore stake

Abu Dhabi is set to become Glencore’s largest shareholder, after the company’s employees, as one of the emirate’s leading sovereign wealth funds takes a large stake in the trading house’s multibillion dollar initial public offering.

The Middle East country will lead a roster of cornerstone blue-chip investors, including GIC, Singapore’s sovereign wealth fund; BlackRock; Fidelity; Zijin Mining of China; banks Credit Suisse, UBS and Pictet.

Read more >>
http://link.ft.com/r/EB8122/YHUWBP/MJTKN/WLR41U/RNQHEG/7V/t?a1=2011&a2=5&a3=3

PROVING ONCE AGAIN THAT FOOLS AND THEIR MONEY ARE SOON PARTED...

[Demeter]

47. Glencore has bigger risk appetite than Wall St

Research reveals the commodities trader could have lost a daily $42.5m last year on average when measured by the so-called ‘value-at-risk’ measure

Read more >>
http://link.ft.com/r/TWK799/EW73NH/87I64/3OLY38/LQXR47/XL/t?a1=2011&a2=5&a3=3

[xchrom]

82. Abu Dhabi's Aabar commits $850m to Glencore IPO

http://www.arabianbusiness.com/abu-dhabi-s-aabar-commits-850m-glencore-ipo--397774.html

Abu Dhabi's Aabar Investments has committed to invest $850m n Glencore International AG's $10bn initial public offering (IPO), becoming the biggest cornerstone investor in the offering, according to a term sheet seen by Reuters on Wednesday.

Government of Singapore Investment Corp (GIC), which is already a Glencore bondholder, has injected $400m into the IPO, making the Singapore fund the second-biggest cornerstone investor.

Such investors back many Asian listings, committing to take large, guaranteed stakes and in return agreeing to a lock-up period during which they will not sell their shares. In Glencore's offer, cornerstones have agreed to a six months lock-up, the term sheet added.

The "accounts have agreed to subscribe as cornerstone investors for shares at any price in the range. The tranche...was oversubscribed," the term sheet showed.

[Demeter]

37. Sony under fire after new breach

Hackers had a level of sophistication that would have been hard for any company to withstand, says electronics group

Read more >>
http://link.ft.com/r/UXDMSS/EW71C0/9MEOW/5CH9KH/LQXPGC/CM/t?a1=2011&a2=5&a3=4

[Demeter]

50. Second Sony network shut by hacker fear

Japanese group closes a second online network for its gaming customers and said for the first time that hackers had stolen account information on thousands of payment cards.

Read more >>
http://link.ft.com/r/TWK799/EW73NH/87I64/3OLY38/8A65GB/XL/t?a1=2011&a2=5&a3=3

[Demeter]

60. Sony apologises for online data breach

Executives apologise to millions of online gamers following an unprecedented breach of its network and outline proposals to overhaul the company’s security systems

Read more >>
http://link.ft.com/r/4RNQTT/V1NVXV/B49CK/FXAP17/QFEF94/6C/t?a1=2011&a2=5&a3=2

I'M WAITING FOR THE LAWSUITS...THERE'S GOT TO BE A FEW GAMERS WHO KNOW SOMETHING ABOUT TORTS....

[Demeter]

38. Portugal reaches deal on €78bn bail-out

José Sócrates, the country’s caretaker prime minister, says the deal is demanding but indicates that terms are not as tough as those agreed with Greece and Ireland

Read more >>
http://link.ft.com/r/2SRI11/S3JZRN/YGZ3O/V1J57H/6VGWNQ/E4/t?a1=2011&a2=5&a3=4

[Demeter]

39. Discord over European nuclear plant tests

The possibility of an aeroplane collision was the most glaring omission among scenarios laid out in an EU proposal to ensure the safety of its 143 nuclear plants after Fukushima

Read more >>
http://link.ft.com/r/2SRI11/S3JZRN/YGZ3O/V1J57H/QFEHM0/E4/t?a1=2011&a2=5&a3=4

[Demeter]

40. Tories seal majority as Canadian centre fades

The new parliament will be dominated by the Conservatives, led by Stephen Harper, prime minister, who turned their five-year-old minority government into a solid majority

Read more >>
http://link.ft.com/r/2SRI11/S3JZRN/YGZ3O/V1J57H/XTNCYK/E4/t?a1=2011&a2=5&a3=4

OH, CANADA!

[Demeter]

41. Obama gains bulletproof credentials

In authorising the lightning raid that killed Osama bin Laden, Barack Obama erased a corrosive strain of criticism – that he was not up to the job of commander-in-chief

Read more >>
http://link.ft.com/r/A1TNOO/YHU5JC/K91WR/IYMT5N/GK7E0E/CM/t?a1=2011&a2=5&a3=3

A NINE POINT BOUNCE (AND I'M SURE THEY WERE COUNTING ON 20) IN APPROVAL RATINGS DOESN'T HURT, EITHER...HOPE IT WAS WORTH IT.

[Demeter]

42. Mortgage demand falling, says Fed

The Federal Reserve’s latest survey reports that 45% of banks saw demand for closed-end loans drop in the last three months in spite of unchanged mortgage lending standards

Read more >>
http://link.ft.com/r/A1TNOO/YHU5JC/K91WR/IYMT5N/9ZO4H9/CM/t?a1=2011&a2=5&a3=3

SO NO DOUBT THE STANDARDS WILL BE CHANGED....

[Demeter]

43. Swiss freeze Gaddafi, Mubarak and Ben Ali’s funds

Bern has found SFr360m of assets linked to Libyan leader Muammer Gaddafi, while some Sfr410m Swiss francs was also traced to former Egyptian president Hosni Mubarak.

Read more >>
http://link.ft.com/r/A1TNOO/YHU5JC/K91WR/IYMT5N/PRIPW1/CM/t?a1=2011&a2=5&a3=3

[Demeter]

44. New Bundesbank chief takes helm

Germany’s new central bank president has taken office calling for a return to “normal” monetary policy in the eurozone – a clear hint he would back further rises in ECB interest rates

Read more >>
http://link.ft.com/r/A1TNOO/YHU5JC/K91WR/IYMT5N/8A65TK/CM/t?a1=2011&a2=5&a3=3

PRETTY AMAZING, THOSE GERMAN BANKERS

[Demeter]

45. Smartphone data anxieties rise

Recent disclosures about the extent of sensitive personal data collected by smartphones and disseminated to businesses are prompting increased scrutiny by the US Congress

Read more >>
http://link.ft.com/r/A1TNOO/YHU5JC/K91WR/IYMT5N/D42D6J/CM/t?a1=2011&a2=5&a3=3

I'LL STICK WITH MY DUMB PHONE, THANKS VERY MUCH...

[Demeter]

46. Golf course boom points to China corruption

A proliferation of world-class golf courses would be regarded as an obvious byproduct of soaring living standards in most countries, but in China it has become a potent symbol of hypocrisy

Read more >>
http://link.ft.com/r/A1TNOO/YHU5JC/K91WR/IYMT5N/LQXR7T/CM/t?a1=2011&a2=5&a3=3

NAW...GOLF ANYWHERE IS A SYMBOL OF HYPOCRISY--ANYTHING OVER PUTT-PUTT MINIATURE GOLF, THAT IS....

[Demeter]

48. Plunge in DVD sales poses challenge for Hollywood

Sales of new DVDs have collapsed, falling 20 per cent in a year, and the scale of the decline will cause anxiety in Hollywood, where technology continues to wreak havoc on established business models and revenue streams

Read more >>
http://link.ft.com/r/TWK799/EW73NH/87I64/3OLY38/UUJH9X/XL/t?a1=2011&a2=5&a3=3

BECAUSE PEOPLE ARE IN THE MARKET FOR ENTERTAINMENT, NOT TECHNOLOGY! HAVE THESE HOLLYWOOD MOGULS EVER WATCHED THE DREK THEY ARE TRYING TO SELL?

[4dsc]

111. I refuse to buy a $23 DVD

The price of new DVD's went up to over $23 and that's just too much for me. I glad to see the drop.

[Demeter]

123. I Buy them Pre-Viewed

If you ever saw what the Kid does to them, you'd see the wisdom of that. Nothing over $5.

[Demeter]

51. US becomes net exporter of fuel

The US has become a net exporter of fuel for the first time for nearly 20 years as drivers struggle with high petrol prices

Read more >>
http://link.ft.com/r/TWK799/EW73NH/87I64/3OLY38/OJY3K2/XL/t?a1=2011&a2=5&a3=3

AND THIS IS IN SPITE OF THREE HOT WARS (AND GOD KNOWS HOW MANY COLD ONES)

[Demeter]

53. Brussels pushes for border controls

The European Commission will propose allowing governments temporarily to reinstate border controls within the EU to isolate countries failing to control illegal migrants

Read more >>
http://link.ft.com/r/DHGUVV/5C8D45/1O51V/JI5TUA/GK7DXY/CM/t?a1=2011&a2=5&a3=2

SO MUCH FOR THE GLOBAL, ONE WORLD FANTASY....

[Demeter]

55. America’s ‘rust belt’ states lead recovery

“Rust belt” states have seen the largest gains in US manufacturing jobs over the past year, as the upturn in industry revives some of the most depressed regions in the country

Read more >>
http://link.ft.com/r/DHGUVV/5C8D45/1O51V/JI5TUA/A70MZZ/CM/t?a1=2011&a2=5&a3=2

THAT'S NEWS TO US MICHIGANDERS....PERHAPS WE JUST LOOK BETTER IN COMPARISON TO THE OTHER THREE COASTLINES....LATELY

[Demeter]

57. Squeeze hits Spanish olive farmers

Credit-starved Spanish olive farmers have been forced to unleash a glut of their produce on to the market, causing a crash in olive oil prices

Read more >>
http://link.ft.com/r/DHGUVV/5C8D45/1O51V/JI5TUA/HDMDX5/CM/t?a1=2011&a2=5&a3=2

PROVING ONCE AGAIN, IT'S ALWAYS ABOUT OIL :rofl:

[AnneD]

80. Well....

Olive it up to you to make the jokes...:hide:

[xchrom]

85. good news for me -- i love good spanish olive oil! nt

[Demeter]

59. Centrica threat on gas field in tax row

Owner of British Gas says it might not resume output at Britain’s biggest natural gas field because of the rise in North Sea tax

Read more >>
http://link.ft.com/r/4RNQTT/V1NVXV/B49CK/FXAP17/1818TI/6C/t?a1=2011&a2=5&a3=2

[xchrom]

61. Global stocks fall; Portugal yields dip after bailout

http://www.moneycontrol.com/news/international-markets/global-stocks-fall-portugal-yields-dip-after-bailout_540561.html

World stocks dropped further from recent three-year highs on Wednesday as falling commodity prices and concerns about signs of economic slowdown in China prompted investors to scale back risky positions.

Portuguese bond yields fell after the country agreed a three-year 78-billion-euro (USD 116 billion) bailout with the European Union and IMF on Tuesday, becoming the third euro zone country in a year, after Ireland and Greece, to seek financial aid.

This week's 14% plunge in silver prices and a lower-than-forecast manufacturing growth reading in China have made investors nervous about holding big bets ahead of the European Central Bank meeting on Thursday and the April U.S. jobs report due on Friday.

Before this week's decline, world stocks had risen more than eight percent this year as investors grew confident strong corporate earnings, robust growth in emerging markets and still ample liquidity would keep global growth at a reasonable level.

[Demeter]

66. Rolls-Royce allowed to appoint foreign head

UK government approves a relaxation of the “golden share” agreement, paving the way for the group to hire a chairman from the US or continental Europe when the incumbent steps down

Read more >>
http://link.ft.com/r/4RNQTT/V1NVXV/B49CK/FXAP17/EWAW7R/6C/t?a1=2011&a2=5&a3=2

[Demeter]

67. Investor warns on rush for web stars

Investors are rushing investment decisions on hot internet companies and accepting weaker ownership rights than in the dotcom bubble

Read more >>
http://link.ft.com/r/4RNQTT/V1NVXV/B49CK/FXAP17/GK7K5C/6C/t?a1=2011&a2=5&a3=2

[xchrom]

68. Stock futures turn slightly positive on M&A

http://www.reuters.com/article/2011/05/04/us-markets-stocks-idUSTRE74120Z20110504

(Reuters) - S&P index futures cut earlier losses to turn flat on Wednesday as acquisition activity helped to offset weaker-than-expected ADP employment data.

S&P 500 futures rose 0.6 percent and were about even with fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 1 point, and Nasdaq 100 futures rose 0.25 points.

[Demeter]

69. GE targets Latin America for growth

GE focuses on industrial projects in South America as the region improves its infrastructure before hosting football’s World Cup and the Olympic Games

Read more >>
http://link.ft.com/r/4RNQTT/V1NVXV/B49CK/FXAP17/5CBC8N/6C/t?a1=2011&a2=5&a3=2

Katy, bar the door!

[Demeter]

70. Disclosure pressure on Wells Fargo rises

A sharp fall in mortgage business and the unexpected departure of its chief financial officer reignite calls for the bank to provide more information about its operations

Read more >>
http://link.ft.com/r/4RNQTT/V1NVXV/B49CK/FXAP17/LQXQD6/6C/t?a1=2011&a2=5&a3=2

[xchrom]

71. Insurance companies boost investments in inner cities, rural areas

http://latimesblogs.latimes.com/money_co/2011/05/insurance-companies-boost-investments-in-inner-cities-rural-areas.html

Major insurance companies are pumping $11 million in new investments into inner-city and rural areas that normally aren't served by large financial institutions.

The money is part of a 14-year-old program called the California Organized Investment Network that's designed to encourage insurers to plow some of their profits back into low-income communities.

The program, known as COIN, has invested more than $100 million since its inception. The money has financed low-cost housing, mobile home mortgages, small businesses, day care centers and other community improvements.

On Tuesday, California Insurance Commissioner Dave Jones and state Assembly Speaker John Perez jointly announced the three investments: $7 million from the Farmers Insurance Exchange, $2 million from State Farm Mutual Automobile Insurance Co. and $2 million from Pacific Life Insurance Co.

[xchrom]

73. asia: Japan urges easing of trade curbs after nuclear crisis

http://uk.reuters.com/article/2011/05/03/uk-japan-britain-idUKTRE7426BD20110503

(Reuters) - Japanese Foreign Minister Takeaki Matsumoto called on Tuesday for the easing of restrictions on Japanese food imports imposed after the earthquake and tsunami that led to a radiation leak from a Japanese nuclear plant.

Speaking at a joint news conference after talks with counterpart William Hague, Matsumoto said there should be "appropriate relaxation" of restrictions on travel and trade imposed after the crisis at the Fukushima Daiichi nuclear plant.

"As for the restrictions on imports of Japanese foods, based on the current scientific data ... I would like you to respond accordingly based on these data and I believe we have reached an understanding," Matsumoto said, according to an interpreter.

[xchrom]

75. Renren IPO prices at top of range: underwriter

http://uk.reuters.com/article/2011/05/04/us-renren-ipo-idUKTRE7433HI20110504

Reuters) - The initial public offering of Renren Inc, one of China's largest social networks, priced at the top of the expected range on Wednesday after the share float was delayed by a day, an underwriter said.

The Beijing-based company sold 53.1 million American Depositary Shares for $14 each, raising $743.4 million. It had planned to sell shares for $12 to $14 each.

The IPO was originally expected on Tuesday after the close of U.S. markets, but was delayed until Wednesday morning. The exact reason for the delay was not immediately clear.

[xchrom]

78. China 2011 growth seen solid - Reuters poll

http://uk.reuters.com/article/2011/05/04/uk-china-economy-poll-idUKTRE7432CD20110504

Reuters) - China's roaring economy will slow a touch this year, with inflation staying stubbornly above the government's 4 percent target, arguing for monetary policy to tighten further, a Reuters poll showed.

The median forecast of 19 analysts surveyed showed the Chinese economy could grow 9.5 percent in 2011, slowing slightly from last year's 10.3 percent expansion.

In the second quarter, the world's second-biggest economy is predicted to grow 9.4 percent, a shade below the 9.7 percent seen in the first three months of the year.

"We expect the Chinese economy to continue with trend-growth pace in the coming quarters," JPMorgan said in a research note.

[xchrom]

95. Police raid Google on data-gathering worries

http://joongangdaily.joins.com/article/view.asp?aid=2935715

Seoul police Tuesday raided Google Korea’s head office in southern Seoul on suspicion that the global search company had used its mobile advertising platform to illegally collect private data, officials said.

The Seoul Metropolitan Police Agency (SMPA) sent its investigators to the local office of Google Inc. in Yeoksam-dong, southern Seoul, at 10:30 a.m. to secure hard drives and other computer data related to the company’s “AdMob” platform, said the officials.

Hours later, SMPA investigators also conducted a surprise raid on the headquarters of local portal site Daum on similar suspicions. Investigators confiscated hard drives and other documents during their raid on Daum’s Seoul office in Hannam-dong, central Seoul.

[Demeter]

104. Now THAT'S an Interesting Development

Either Korea or Google is up to something....probably both.

[xchrom]

106. you have a way of putting things...

:spray:

[xchrom]

96. FX reserves hit $300 billion mark

http://joongangdaily.joins.com/article/view.asp?aid=2935705

Korea’s foreign exchange reserves surpassed $300 billion for the first time in April, the Bank of Korea said yesterday.

The foreign reserves reached $307.2 billion at the end of April, up $8.58 billion from March, largely due to the appreciation of euro and pound holdings against the U.S. dollar.

It was the sharpest rise in Korea’s foreign reserves in nine months, with the increase adding to market speculation of dollar-buying intervention by the central bank to curb the won’s gains.

It was the biggest monthly gain since an $11.74 billion rise in July 2010 and compared with a $0.95 billion rise in March.

[xchrom]

98. Probe on currency contracts

http://joongangdaily.joins.com/article/view.asp?aid=2935702

Korea’s financial authorities said yesterday that they plan to extend the ongoing inspection into currency forward trading by banks and their handling of “kimchi bonds” amid a surge in short-term overseas debt.

The Bank of Korea and the Financial Supervisory Service are conducting a joint inspection of four banks, one local and three foreign, over currency forwards, which will run until Friday.

They said in a joint statement that they will probe at least two more banks as early as mid-May as the sale of kimchi bonds has been on a sharp rise, increasing market instability. But the specific number of banks and the timing has yet to be decided, they added.

[xchrom]

100. Investors cash in on recent share gains

http://joongangdaily.joins.com/article/view.asp?aid=2935684

Stocks closed 1.27 percent lower yesterday as institutions rushed to cash in profits following recent surges, analysts said. The local currency fell against the U.S. dollar.

The benchmark Kospi sank 28.23 points to 2,200.73. Trading volume was moderate at 371.6 million shares worth 8.4 trillion won ($7.9 billion), with losers outnumbering gainers 495 to 300.

“Investors offloaded shares of automakers and chemicals, believing their recent gains were excessive,” said Lee Kyung-soo, an analyst at Shinyoung Securities Co.

“Overnight losses on Wall Street also dented investor sentiment,” said Lee. After spiking on the news of Osama bin Laden’s death, U.S. stocks trimmed earlier gains as the impact from the news was short-lived.

[xchrom]

105. Hong Kong shares close sharply lower on tightening concerns

http://news.xinhuanet.com/english2010/china/2011-05/04/c_13858930.htm

HONG KONG, May 4 (Xinhua) -- Hong Kong stocks dropped for the sixth consecutive day, losing 318.01 points, or 1.35 percent, at 23, 315.24 to close Wednesday's session.

The benchmark Hang Seng Index traded between 23,582.60 and 23, 230.38. Turnover totaled 77.86 billion HK dollars (about 10.02 billion U.S. dollars).

Tracking declines on Mainland shares, local market tumbled on concerns over further tightening measures to contain inflation, analysts said.

Linus Yip, strategist of First Shanghai Securities Limited, told Xinhua that investors expected Mainland to introduce rate hike during the Labor Day holiday, leading the local market to accumulatively lost 800 points on six consecutive sessions.

[xchrom]

107. China stocks plunge Wednesday

http://news.xinhuanet.com/english2010/business/2011-05/04/c_13858636.htm

BEIJING, May 4 (Xinhua) -- Chinese shares fell sharply Wednesday with the benchmark Shanghai Composite Index down 66.17 points, or 2.26 percent, to 2,866.02.

The index on Wednesday has fallen to its lowest point in more than two months.

Shares of coal miners slumped by more than 5 percent, while non-ferrous metals and autos dipped more than 3 percent.

The Shenzhen Component Index dived 2.84 percent, or 353.06 points, to close at 12,070.41.

[xchrom]

108. Foreign holdings of S.Korean stocks top 370 bln USD in April

http://news.xinhuanet.com/english2010/business/2011-05/04/c_13858216.htm

SEOUL, May 4 (Xinhua) -- Foreign investments in South Korean stocks topped 400 trillion won (372 billion U.S. dollars) for the first time ever in April due to massive buying boosted by positive corporate earnings, the financial regulator said Wednesday.

As of the end of April, foreign holdings of local listed stocks amounted to 412.51 trillion won, or 30.8 percent of the total market capitalization, the Financial Supervisory Service (FSS) said in a monthly report.

Foreign holdings surpassed the 400 trillion won mark for the first time in April after it topped the 300 trillion won level in March 2007. The holdings once declined to 159.7 trillion in February 2009 during the global financial crisis.

Offshore investors made net purchases of 4.42 trillion in local stocks in April, a turnaround from cumulative net sales of 4.49 trillion won from February to March this year, according to the FSS.

[xchrom]

79. middle east: Egypt offers financial perks to boost ailing tourism

http://www.arabianbusiness.com/egypt-offers-financial-perks-boost-ailing-tourism-397807.html

Egypt is offering financial incentives to tour operators in the UAE and Europe in a bid to tempt back visitors and maintain chartered flights to the Arab state, the country’s tourism ministry said. The government has said it will subsidise half-full inbound flights until October and offer cash benefits to travel agents in exchange for running marketing campaigns for Egypt.

“If they can fill the aircrafts by 50 percent, then that is enough for us to pay an additional percentage on top of that,” said Hisham Zaazou, senior assistant minister of tourism, on the sidelines of an event in Dubai.

“, we’re telling them if you run campaigns for Egypt, we’re going to pay a dollar against your dollar or a euro against your euro.”

Tourism, the backbone of Egypt’s economy, has slowed to a trickle in the wake of a violent 18-day uprising that ousted president Hosni Mubarak and saw embassies worldwide issue travel warnings against the Arab state.

[xchrom]

81. Fuel costs push Air Arabia Q1 profits down 12%

http://www.arabianbusiness.com/fuel-costs-push-air-arabia-q1-profits-down-12--397817.html

Air Arabia, the Middle East’s largest listed low-cost airline, posted a 12 percent decline in first-quarter net profit as rising fuel costs and political unrest put pressure on margins.

The Sharjah-based carrier saw a net profit of AED44.2m for the three months to March 31, down from AED50m in the same period a year earlier, the carrier said in a statement Wednesday.

Revenue for the quarter rose six percent to AED513m, up from AED482m in the year-earlier period.

“We are satisfied with our results for the first quarter of this year that is in line with our expectations, given the region’s uncertainty,” said Sheikh Abdullah Bin Mohammad Al Thani, chairman of Air Arabia in a statement to the Dubai bourse.

[xchrom]

87. UAE’s Dana Gas announces fifth gas discovery in Egypt

http://www.arabianbusiness.com/uae-s-dana-gas-announces-fifth-gas-discovery-in-egypt-397661.html

Dana Gas said on Tuesday it has made a new gas discovery in the Nile Delta, Egypt, its fifth gas find in the Arab state.

“A preliminary estimate of the discovered reserves in the new pool (El Wastani formation) is in excess of 60 Bcf of gas, with a possible upside still under evaluation,” the company said in a statement.

The Gulf's only listed natural gas company will prepare a separate development plan for the new poll, including several appraisal and development wells.

On test, the South Abu El Naga-2 well produced 14.1 million standard cubic feet per day of gas with 718 barrels of condensate from the Abu Madi Formation, the company said.

[xchrom]

88. Kuwait net budget surplus grows in 2010/11

http://www.arabianbusiness.com/kuwait-net-budget-surplus-grows-in-2010-11-397616.html

Kuwait's net budget surplus increased to KD6.5bn ($23.67bn) in its 2010/11 fiscal year as oil income jumped, while spending remained trailing the original plan, preliminary data showed on Tuesday.

The net figure is after a transfer of ten percent of revenues to a fund for future generations, managed by the OPEC producer's sovereign wealth fund.

Before the transfer, the fiscal surplus reached KD8.5bn ($30.95bn), or 23.1 percent of Kuwait's gross domestic product, above market expectations and KD6.4bn ($23.3bn) seen in the previous fiscal year.

Analysts polled by Reuters in March forecast that the world's fourth largest crude exporter would post a surplus of 19.8 percent of GDP.

[xchrom]

91. Middle East shoppers lift London’s West End

http://www.arabianbusiness.com/middle-east-shoppers-lift-london-s-west-end-397735.html

London’s luxury retailers are set to see a boost in sales in the run-up to Ramadan as the weak pound helps lure in Middle East shoppers keen to cash in on the city’s lower prices.

Middle East buyers are set to splash £210m ($346m) in London’s West End in 2011, with shoppers from the UAE leading the pack, said a report from UK’s New West End Company.

“International shoppers are key to the ongoing West End retail recovery and success of London’s economy,” said Jace Tyrrell, direct of the NWEC which represents retailers in Bond Street, Oxford Street, and Regent Street.

“The Middle East, and in particular visitors from the UAE, is one of our most important inbound shopper markets.”

[xchrom]

93. Bahrain bourse sees 77% decline in trade amid unrest

http://www.arabianbusiness.com/bahrain-bourse-sees-77-decline-in-trade-amid-unrest-397814.html

The value of shares traded on the Bahrain bourse plunged 77 percent between January and March as widespread civil unrest in the Gulf kingdom hit investor sentiment, data showed Wednesday.

Central bank figures showed the value of transactions fell from BD14.7 m ($39m) in January to BD3.4m ($8.93m) in March, as the kingdom moved to quell pro-reform demonstrations.

Assets of Bahrain's offshore banks fell 10 percent to $134.9bn during March, marking their lowest levels since 2005, though domestic assets and assets of local retail banks remained stable.

At least 13 protesters and four policemen were killed and hundreds injured in clashes during protests that gripped the country for weeks in February and March.

[DemReadingDU]

84. Rachel Maddow: OBL and the financial industry

There was a long segment on Rachel Maddow show last night about Osama bin Laden and the financial industry of the U.S. OBL's plan wasn't 'body count', but to bankrupt the USA, to spend ourselves into oblivion.

She has lots of charts and graphs, and references the WaPo series last July about Top Secret America which shows the increase in the costs which are spent for counter-terrorism, and an article in WaPo by Ezra Klein.

5/3/11 Rachel Maddow Show about Osama and the financial industry, references Top Secret America, Ezra Klein article.
http://www.msnbc.msn.com/id/26315908/#42889180 appx 17.5 minutes

From July 2010
Intro to Top Secret America
Play video appx 1.5 minutes
http://projects.washingtonpost.com/top-secret-america/

USA map of counter-terrorist organizations, and audio appx 1.5 minutes
http://projects.washingtonpost.com/top-secret-america/map/

Color-coded wheel of government organiaztions and contractors
http://projects.washingtonpost.com/top-secret-america/network/#/overall/most-activity/

edit to add Ezra Klein article
5/3/11 Bin Laden’s war against the U.S. economy by Ezra Klein
For bin Laden, in other words, success was not to be measured in body counts. It was to be measured in deficits, in borrowing costs, in investments we weren’t able to make in our country’s continued economic strength.
http://www.washingtonpost.com/blogs/ezra-klein/post/bin-ladens-war-against-the-us-economy/2011/04/27/AFDOPjfF_blog.html

[Hotler]

94. k&r n/t

[Roland99]

97. 9:30am - not quite treading water

Dow 12,785 -23 -0.18%
Nasdaq 2,843 +1 +0.04%
S&P 500 1,355 -2 -0.13%
GlobalDow 2,243 -9 -0.42%
Gold 1,540 -1 -0.06%
Oil 110.70 -0.35 -0.32%
Euro /$1US 1.4917 0.0097
$1US / Yen 80.9600 0.0100
Pound / $1US 1.6562 0.0081
Aud / $1US 1.0862 0.0029
10yr T-note 3.26 0.01
2yr T-note 0.62 0.02

[Roland99]

119. 11:25am - OUCH!

Dow 12,685 -122 -0.96%
Nasdaq 2,813 -29 -1.02%
S&P 500 1,343 -14 -1.04%
GlobalDow 2,223 -29 -1.28%
Gold 1,528 -13 -0.82%
Oil 109.58 -1.47 -1.32

[xchrom]

102. Chrysler April sale jumps 22% on strong truck, car sales

http://news.xinhuanet.com/english2010/business/2011-05/04/c_13857502.htm

CHICAGO, May 3 (Xinhua) -- Chrysler Group LLC announced Tuesday that its U.S. sales jumped 22 percent in April, which is its best April sale since 2008, as truck and car sales each notched double-digit increases.

The Auburn Hills-based automaker sold 117,225 vehicles in April, up 22 percent from a year ago, but off 3.7 percent from last month.

The significant increase in April car sales was driven by strong demand for the new 2011 Chrysler 200 and the new 2011 Dodge Avenger mid-size sedans, the company said.

[xchrom]

109. Asian trio to study dollar alternative: report

http://www.marketwatch.com/story/asian-trio-to-study-dollar-alternative-report-2011-05-04

HONG KONG (MarketWatch) — Officials from China, Japan and South Korea agreed on Wednesday to study a proposal to use their own currencies for regional trade settlement instead of the U.S. dollar, according to a Dow Jones Newswires report.

The report cited a joint communiqué issued in Hanoi.

Finance officials from the three big Asian economies said they were mindful of challenges arising from inflation, noting commodity prices were high while volatile capital inflows were also a concern.

They also agreed to study regional infrastructure financing and disaster risk insurance, the report said.

[mrdmk]

120. k & r

[hamerfan]

121. Wall Street traders mine tweets to gain a trading edge

NEW YORK — #Tweet this: To gain a trading edge, Wall Street traders are now using clever computer programs to monitor and decode the words, opinions, rants and even keyboard-generated smiley faces posted on social-media sites like Twitter.com.

By Karl Gelles, USA TODAY
Human emotions, such as greed and fear, have always moved markets. Money can be made betting with or against the crowd, so measuring the mood of the masses online can be just as valuable as tracking price-to-earnings ratios, corporate profits and interest rates. The new trend on Wall Street for deciphering if the populace and investing public is in a positive or negative state of mind is computer-driven text analysis of the millions of real-time tweets and posts that flood social-networking sites.
Online surveillance of social-networking sites is emerging as a must-have tool for hedge funds, big banks, high-frequency traders and black-box investment firms that run money via computer programs. The goal: to gather market intelligence from previously untapped sources.

http://www.usatoday.com/money/perfi/stocks/2011-05-03-wall-street-traders-mine-tweets_n.htm

*********************************************************************************************************
Utterly ridiculous, IMHO, but what do I know?

[Festivito]

124. Debt: 05/02/2011 14,320,649,656,092.60 (UP 33,019,603,769.48) (Mon, UP a lot.)

(OVER the old debt limit of 14.294-trillion dollars by 27-billion dollars. Good day.)
McD's must be the cultural center of Highland Park.
(Debt under Obama seems to jump up big then drop slowly maybe up a little and down a little for days--repeat.)
= Held by the Public + Intragovernmental(FICA)
= 9,698,020,425,418.20 + 4,622,629,230,674.40
UP 43,070,259,587.79 + DOWN 10,050,655,818.31

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

THINKING IN BILLIONS: Think 3 or 4 dollars per billion in a 312-Million person America.
If every American, man, woman and child puts in $3.21 THAT'S 1B$, and $3,205.96 makes 1T$.
A family of three: Mom, Dad, Child: $9.62, ABOUT TEN BUCKS for a 1B$ federal program.
I hope that is clear. However, I'd suggest using $3 per 1B$ to underestimate it.
Use $4 per 1B$ to overestimate the cost when thinking: Is the federal program worth it?
Aid to Dependant Children: 2B$/yr =$8/yr(a movie a year) Family of 3: $24/yr(an hour of bowling)

PERSONALIZED DEBT:
Every 12 seconds we net gain another American, so at the end of the workday of the report, there should be 311,919,392 people in America.
http://www.census.gov/population/www/popclockus.html ON 10/04/2010 04:37 -> 310,403,677
Currently, each of these Americans owe $45,911.38.
A family of three owes $137,734.14. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 20 reports in the last 30 to 31 days.
The average for the last 20 reports is 3,473,756,989.21.
The average for the last 30 days would be 2,315,837,992.81.
The average for the last 31 days would be 2,241,133,541.43.
There were 252 reports in 365 days of FY2007 averaging 1.99B$ per report, 1.37B$/day.
There were 253 reports in 366 days of FY2008 averaging 4.02B$ per report, 2.78B$/day.
There were 75 reports in 112 days of GWB's part of FY2009 averaging 8.03B$ per report, 5.38B$/day.
There were 174 reports in 253 days of Obama's part of FY2009 averaging 7.33B$ per report, 5.07B$/day so far.
There were 249 reports in 365 days of FY2009 averaging 7.57B$ per report, 5.16B$/day.
There were 251 reports in 365 days of FY2010 averaging 6.58B$ per report, 4.53B$/day.
There were 145 reports in 214 days of FY2011 averaging 5.23B$ per report, 3.55B$/day.
Above line should be okay

PROJECTION:
There are 629 days remaining in this Obama 1st term.
By that time the debt could be between 15.2 and 17.6T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
05/02/2011 14,320,649,656,092.60 BHO (UP 3,693,772,607,179.52 so far since Obama took office.)

FISCAL YEAR DEBT CHANGE, Sep 30 prior year to Sep 30 named year:
(One "* " for each 40B$ reached)
FY1994 +0,281,261,026,873.94 ------------* * * * * * * WJC
FY1995 +0,281,232,990,696.07 ------------* * * * * * * WJC
FY1996 +0,250,828,038,426.34 ------------* * * * * * WJC
FY1997 +0,188,335,072,261.61 ------------* * * * WJC
FY1998 +0,113,046,997,500.28 ------------* * WJC
FY1999 +0,130,077,892,735.81 ------------* * * WJC
FY2000 +0,017,907,308,253.43 ------------WJC
FY2001 +0,133,285,202,313.20 ------------* * * C&B
01-WJC +0,053,598,528,417.78 ------------* WJC 31% of FY, 40% of FY-Debt
01-GWB +0,079,686,673,895.42 ------------* GWB 69% of FY, 60% of FY-Debt
FY2002 +0,420,772,553,397.10 ------------* * * * * * * * * * GWB
FY2003 +0,554,995,097,146.46 ------------* * * * * * * * * * * * * GWB
FY2004 +0,595,821,633,586.70 ------------* * * * * * * * * * * * * * GWB
FY2005 +0,553,656,965,393.18 ------------* * * * * * * * * * * * * GWB
FY2006 +0,574,264,237,491.73 ------------* * * * * * * * * * * * * * GWB
FY2007 +0,500,679,473,047.25 ------------* * * * * * * * * * * * GWB
FY2008 +1,017,071,524,649.92 ------------* * * * * * * * * * * * * * * * * * * * * * * * * GWB
FY2009 +1,885,104,106,599.30 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * B&O
09GWB +0,602,152,152,000.60 ------------* * * * * * * * * * * * * * * GWB 31% of FY, 32% of FY-Debt
09-BHO +1,282,951,954,598.70 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO 69% of FY, 68% of FY-Debt
FY2010 +1,651,794,027,380.00 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
FY2011 +0,759,026,625,200.90 ------------* * * * * * * * * * * * * * * * * * BHO
Endof11 +1,294,601,486,908.08 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
04/11/2011 +000,390,366,211.15 ------------******** Mon
04/13/2011 +000,216,450,469.86 ------------********
04/14/2011 +004,827,508,513.07 ------------*********
04/15/2011 +021,566,615,397.70 ------------**********
04/18/2011 +000,320,133,441.47 ------------******** Mon
04/19/2011 +000,498,845,624.51 ------------********
04/20/2011 +000,031,154,878.79 ------------*******
04/21/2011 -029,604,944,039.31 -
04/22/2011 +000,169,463,975.78 ------------********
04/25/2011 +000,297,069,525.13 ------------******** Mon
04/26/2011 +000,207,526,568.97 ------------********
04/27/2011 -002,332,483,455.54 --
04/28/2011 -007,710,203,842.40 --
04/29/2011 +013,870,888,452.00 ------------**********
05/02/2011 +043,070,259,587.79 ------------********** Mon

45,818,651,308.97 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=4836843&mesg_id=4836860

[Festivito]

128. Debt: 05/03/2011 14,331,792,440,897.70 (UP 11,142,784,805.16) (Tue, UP a little.)

(OVER the old debt limit of 14.294-trillion dollars by 38-billion dollars. Good day.)
Shaver's back, thanks Kenny.
(Debt under Obama seems to jump up big then drop slowly maybe up a little and down a little for days--repeat.)
= Held by the Public + Intragovernmental(FICA)
= 9,698,303,861,133.10 + 4,633,488,579,764.66
UP 283,435,714.90 + UP 10,859,349,090.26

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

THINKING IN BILLIONS: Think 3 or 4 dollars per billion in a 312-Million person America.
If every American, man, woman and child puts in $3.21 THAT'S 1B$, and $3,205.88 makes 1T$.
A family of three: Mom, Dad, Child: $9.62, ABOUT TEN BUCKS for a 1B$ federal program.
I hope that is clear. However, I'd suggest using $3 per 1B$ to underestimate it.
Use $4 per 1B$ to overestimate the cost when thinking: Is the federal program worth it?
Aid to Dependant Children: 2B$/yr =$8/yr(a movie a year) Family of 3: $24/yr(an hour of bowling)

PERSONALIZED DEBT:
Every 12 seconds we net gain another American, so at the end of the workday of the report, there should be 311,926,592 people in America.
http://www.census.gov/population/www/popclockus.html ON 10/04/2010 04:37 -> 310,403,677
Currently, each of these Americans owe $45,946.04.
A family of three owes $137,838.13. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 21 reports in the last 30 to 32 days.
The average for the last 21 reports is 3,838,948,789.97.
The average for the last 30 days would be 2,687,264,152.98.
The average for the last 32 days would be 2,519,310,143.42.
There were 252 reports in 365 days of FY2007 averaging 1.99B$ per report, 1.37B$/day.
There were 253 reports in 366 days of FY2008 averaging 4.02B$ per report, 2.78B$/day.
There were 75 reports in 112 days of GWB's part of FY2009 averaging 8.03B$ per report, 5.38B$/day.
There were 174 reports in 253 days of Obama's part of FY2009 averaging 7.33B$ per report, 5.07B$/day so far.
There were 249 reports in 365 days of FY2009 averaging 7.57B$ per report, 5.16B$/day.
There were 251 reports in 365 days of FY2010 averaging 6.58B$ per report, 4.53B$/day.
There were 146 reports in 215 days of FY2011 averaging 5.28B$ per report, 3.58B$/day.
Above line should be okay

PROJECTION:
There are 628 days remaining in this Obama 1st term.
By that time the debt could be between 15.2 and 17.6T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
05/03/2011 14,331,792,440,897.76 BHO (UP 3,704,915,391,984.68 so far since Obama took office.)

FISCAL YEAR DEBT CHANGE, Sep 30 prior year to Sep 30 named year:
(One "* " for each 40B$ reached)
FY1994 +0,281,261,026,873.94 ------------* * * * * * * WJC
FY1995 +0,281,232,990,696.07 ------------* * * * * * * WJC
FY1996 +0,250,828,038,426.34 ------------* * * * * * WJC
FY1997 +0,188,335,072,261.61 ------------* * * * WJC
FY1998 +0,113,046,997,500.28 ------------* * WJC
FY1999 +0,130,077,892,735.81 ------------* * * WJC
FY2000 +0,017,907,308,253.43 ------------WJC
FY2001 +0,133,285,202,313.20 ------------* * * C&B
01-WJC +0,053,598,528,417.78 ------------* WJC 31% of FY, 40% of FY-Debt
01-GWB +0,079,686,673,895.42 ------------* GWB 69% of FY, 60% of FY-Debt
FY2002 +0,420,772,553,397.10 ------------* * * * * * * * * * GWB
FY2003 +0,554,995,097,146.46 ------------* * * * * * * * * * * * * GWB
FY2004 +0,595,821,633,586.70 ------------* * * * * * * * * * * * * * GWB
FY2005 +0,553,656,965,393.18 ------------* * * * * * * * * * * * * GWB
FY2006 +0,574,264,237,491.73 ------------* * * * * * * * * * * * * * GWB
FY2007 +0,500,679,473,047.25 ------------* * * * * * * * * * * * GWB
FY2008 +1,017,071,524,649.92 ------------* * * * * * * * * * * * * * * * * * * * * * * * * GWB
FY2009 +1,885,104,106,599.30 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * B&O
09GWB +0,602,152,152,000.60 ------------* * * * * * * * * * * * * * * GWB 31% of FY, 32% of FY-Debt
09-BHO +1,282,951,954,598.70 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO 69% of FY, 68% of FY-Debt
FY2010 +1,651,794,027,380.00 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
FY2011 +0,770,169,410,006.00 ------------* * * * * * * * * * * * * * * * * * * BHO
Endof11 +1,307,496,905,359.02 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
04/13/2011 +000,216,450,469.86 ------------********
04/14/2011 +004,827,508,513.07 ------------*********
04/15/2011 +021,566,615,397.70 ------------**********
04/18/2011 +000,320,133,441.47 ------------******** Mon
04/19/2011 +000,498,845,624.51 ------------********
04/20/2011 +000,031,154,878.79 ------------*******
04/21/2011 -029,604,944,039.31 -
04/22/2011 +000,169,463,975.78 ------------********
04/25/2011 +000,297,069,525.13 ------------******** Mon
04/26/2011 +000,207,526,568.97 ------------********
04/27/2011 -002,332,483,455.54 --
04/28/2011 -007,710,203,842.40 --
04/29/2011 +013,870,888,452.00 ------------**********
05/02/2011 +043,070,259,587.79 ------------********** Mon
05/03/2011 +000,283,435,714.90 ------------********

45,711,720,812.72 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=4838271&mesg_id=4838934

[Demeter]

125. Your PPT at work

manning the pumps on the hot air balloon....