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STOCK MARKET WATCH -- Thursday, 8 March 2012
[font size=3]STOCK MARKET WATCH, Thursday, 8 March 2012[font color=black][/font]
SMW for 7 March 2012
AT THE CLOSING BELL ON 7 March 2012
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Dow Jones 12,837.33 +78.18 (0.61%)
S&P 500 1,352.63 +9.27 (0.69%)
Nasdaq 2,935.69 +25.37 (0.87%)
[font color=red]10 Year 1.97% +0.01 (0.51%)
30 Year 3.12% +0.03 (0.97%) [font color=black]
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[font size=2]Market Conditions During Trading Hours[/font]
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[font size=2]Euro, Yen, Loonie, Silver and Gold[center]
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[font color=black][font size=2]Handy Links - Market Data and News:[/font][/font]
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Economic Calendar
Marketwatch Data
Bloomberg Economic News
Yahoo Finance
Google Finance
Bank Tracker
Credit Union Tracker
Daily Job Cuts
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[font color=black][font size=2]Handy Links - Economic Blogs:[/font][/font]
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The Big Picture
Financial Sense
Calculated Risk
Naked Capitalism
Credit Writedowns
Brad DeLong
Bonddad
Atrios
goldmansachs666
The Stand-Up Economist
The Automatic Earth
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[font color=black][font size=2]Handy Links - Government Issues:[/font][/font]
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LegitGov
Open Government
Earmark Database
USA spending.gov
[/center][font color=black][font size=2]Handy Links - Videos:[/font][/font]
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Charlie Rose talks with Roubini
Charlie Rose talks with Krugman
William Black: This Economic Disaster
Bill Moyers with Kevin Drum and David Corn
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Financial Sector Officials Convicted since 1/20/09 = [/font][font color=red]12[/font]
2/2/12 David Higgs and Salmaan Siddiqui, Credit Suisse, plead guilty to conspiracy involving valuation of MBS
3/6/12 Allen Stanford, former Caribbean billionaire and general schmuck, convicted on 13 of 14 counts in $2.2B Ponzi scheme, faces 20+ years in prison
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[font size=3][font color=red]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.[/font][/font][/font color=red][font color=black]
68 replies
= new reply since forum marked as read
= new reply since forum marked as read
They're about the thickness of a man's thumb with short, strong thorns
And they can easily reach 10-12 feet tall.
Must be a rally day!
i dislike anything to do w/ cold weather -- unlike our friend here.
44F and overcast, not quite as windy as yesterday (note to weatherman; when it's constant, it's not a 50 MPH "gust"
.
Something is wrong with either the browser or my computer...I've spent 2 hours trying to get up, and I'm using Chrome again :frown:
http://www.foreignpolicy.com/articles/2012/03/07/riding_the_dragon
Even by the hot-money standards of China's economy, defense is an exceptionally lucrative growth industry. The country's 11.2 percent defense budget increase announced March 4, which gives the People's Liberation Army (PLA) $106 billion to spend in 2012, is merely the latest in a long succession of generous budget hikes that have doubled China's military resources every six or seven years since the early 1990s.
This bonanza has produced many winners within China, from the average soldier to domestic defense contractors to ordinary citizens who feel China's sense of pride being restored. Even President Hu Jintao will feel a little more secure in his command of the military after signing off this year's $11 billion PLA pay raise.
Yet some beneficiaries of Beijing's military largesse can be found far beyond China's shores. Some are allies and suppliers that stand to gain directly from the trickle-down of PLA procurement and overseas operations. Others represent the counterbalance of governments wary of China's military ascent. Here are just eight of the unintended passengers on Beijing's defense budget escalator.
. The Norwegian Coast Guard
The South China Sea is not the only maritime territory that has been attracting Beijing's attention: The Arctic, rich in untapped resources, is another oceanic region that China wants to exploit. However, China's relations with Norway -- one of the five countries with territorial interests in the far North, China not being one of them -- have been rocky ever since the Norwegian Nobel Committee awarded the Nobel Peace Prize to Chinese dissident Liu Xiaobo. Yet far from intimidated by China's overbearing response to the Nobel, Norway opted this year to block Chinese involvement in the Arctic Council, pushing Sino-Norwegian relations even further into the freezer. With Arctic Council members Canada and Denmark more supportive of China's northern ambitions, Chinese naval ships could become increasingly active above the 66th parallel. For Norway, that is not a welcome prospect. The 14-ship fleet of the Norwegian Coast Guard, tasked with patrolling the Arctic, has been enjoying increased funding over the last few years in anticipation of tensions in the thawing North. That trend will continue as long as China continues to eye Norway's backyard.
Even by the hot-money standards of China's economy, defense is an exceptionally lucrative growth industry. The country's 11.2 percent defense budget increase announced March 4, which gives the People's Liberation Army (PLA) $106 billion to spend in 2012, is merely the latest in a long succession of generous budget hikes that have doubled China's military resources every six or seven years since the early 1990s.
This bonanza has produced many winners within China, from the average soldier to domestic defense contractors to ordinary citizens who feel China's sense of pride being restored. Even President Hu Jintao will feel a little more secure in his command of the military after signing off this year's $11 billion PLA pay raise.
Yet some beneficiaries of Beijing's military largesse can be found far beyond China's shores. Some are allies and suppliers that stand to gain directly from the trickle-down of PLA procurement and overseas operations. Others represent the counterbalance of governments wary of China's military ascent. Here are just eight of the unintended passengers on Beijing's defense budget escalator.
. The Norwegian Coast Guard
The South China Sea is not the only maritime territory that has been attracting Beijing's attention: The Arctic, rich in untapped resources, is another oceanic region that China wants to exploit. However, China's relations with Norway -- one of the five countries with territorial interests in the far North, China not being one of them -- have been rocky ever since the Norwegian Nobel Committee awarded the Nobel Peace Prize to Chinese dissident Liu Xiaobo. Yet far from intimidated by China's overbearing response to the Nobel, Norway opted this year to block Chinese involvement in the Arctic Council, pushing Sino-Norwegian relations even further into the freezer. With Arctic Council members Canada and Denmark more supportive of China's northern ambitions, Chinese naval ships could become increasingly active above the 66th parallel. For Norway, that is not a welcome prospect. The 14-ship fleet of the Norwegian Coast Guard, tasked with patrolling the Arctic, has been enjoying increased funding over the last few years in anticipation of tensions in the thawing North. That trend will continue as long as China continues to eye Norway's backyard.
http://www.spiegel.de/international/europe/0,1518,820078,00.html
Stadiou Street was once the grand boulevard of Athens. But for some time now, its reputation has been suffering. Numerous demonstrations have recently proceeded along the street, paralyzing traffic. Often, clashes with police have ensued.
This week, too, Stadiou Street was the scene of unrest. This time there was trouble in the office building at number 24, where the Civil Servants' Auxiliary Pension Fund (Teady) has its headquarters. Angry unionists stormed a meeting room in the building on Tuesday -- at precisely the moment when the Teady board were supposed to decide whether the fund would participate in the debt swap deal for private-sector holders of Greek sovereign bonds. The meeting on Tuesday was interrupted, then Teady made a decision on Wednesday evening: They would not participate.
Teady is not alone with its "no." On Tuesday, five other public pension funds demonstratively voted against participating in the debt haircut. Greece's pension funds hold domestic government bonds worth a total of €20.4 billion (€26.9 billion) -- about 5 percent of Greece's entire debt mountain. About two-thirds of that amount will be affected in any case by the debt haircut. For the rest, the funds have to give their consent -- and a number of them are opposing the move.
Stadiou Street was once the grand boulevard of Athens. But for some time now, its reputation has been suffering. Numerous demonstrations have recently proceeded along the street, paralyzing traffic. Often, clashes with police have ensued.
This week, too, Stadiou Street was the scene of unrest. This time there was trouble in the office building at number 24, where the Civil Servants' Auxiliary Pension Fund (Teady) has its headquarters. Angry unionists stormed a meeting room in the building on Tuesday -- at precisely the moment when the Teady board were supposed to decide whether the fund would participate in the debt swap deal for private-sector holders of Greek sovereign bonds. The meeting on Tuesday was interrupted, then Teady made a decision on Wednesday evening: They would not participate.
Teady is not alone with its "no." On Tuesday, five other public pension funds demonstratively voted against participating in the debt haircut. Greece's pension funds hold domestic government bonds worth a total of €20.4 billion (€26.9 billion) -- about 5 percent of Greece's entire debt mountain. About two-thirds of that amount will be affected in any case by the debt haircut. For the rest, the funds have to give their consent -- and a number of them are opposing the move.
http://dailyreckoning.com/why-buffett-and-gartman-are-wrong-about-gold/
In this year’s annual letter to Berkshire Hathaway shareholders, Warren Buffett scorned gold as an asset that is “forever unproductive.”
“Gold will never produce anything,” he wrote. “Gold has two significant shortcomings, being neither of much use nor procreative.”
Buffett’s statement is literally correct, but it has two significant shortcomings, being neither of much use nor insightful. No one holds gold hoping it will produce something. They hold gold because no one can produce it. Precisely for this reason, mankind has considered gold the ultimate money for several thousand years...and it has performed this role with meritorious distinction...
Gold’s appeal waxes and wanes, of course, depending upon the monetary environment in which it resides. But the less folks trust the cash in their pockets, the more they trust gold...and that’s exactly what’s been happening throughout the Western world for more than a decade.
Therefore, despite gold’s “significant shortcomings,” it has delivered a much higher return during the last 14 years than the “useful” and “procreative” Berkshire Hathaway. As the chart below shows, the “rolling 10-year return” of gold has been higher than that of Berkshire Hathaway since January 2008.
The Big 8 central banks now account for the equivalent of one third of world stock market capitalization.”
In this year’s annual letter to Berkshire Hathaway shareholders, Warren Buffett scorned gold as an asset that is “forever unproductive.”
“Gold will never produce anything,” he wrote. “Gold has two significant shortcomings, being neither of much use nor procreative.”
Buffett’s statement is literally correct, but it has two significant shortcomings, being neither of much use nor insightful. No one holds gold hoping it will produce something. They hold gold because no one can produce it. Precisely for this reason, mankind has considered gold the ultimate money for several thousand years...and it has performed this role with meritorious distinction...
Gold’s appeal waxes and wanes, of course, depending upon the monetary environment in which it resides. But the less folks trust the cash in their pockets, the more they trust gold...and that’s exactly what’s been happening throughout the Western world for more than a decade.
Therefore, despite gold’s “significant shortcomings,” it has delivered a much higher return during the last 14 years than the “useful” and “procreative” Berkshire Hathaway. As the chart below shows, the “rolling 10-year return” of gold has been higher than that of Berkshire Hathaway since January 2008.
The Big 8 central banks now account for the equivalent of one third of world stock market capitalization.”
STARTING MARCH 1!
http://www.zerohedge.com/news/next-leg-ponzi-revealed-central-banks-begin-buying-us-stocks-outright-starting-today
We were speechless when we read this from Bloomberg.
The Bank of Israel will begin today a pilot program to invest a portion of its foreign currency reserves in U.S. equities.
The investment, which in the initial phase will amount to 2 percent of the $77 billion reserves, or about $1.5 billion, will be made through UBS AG and BlackRock Inc. (BLK), Bank of Israel spokesman Yossi Saadon said in a telephone interview today. At a later stage, the investment is expected to increase to 10 percent of the reserves.
A small number of central banks have started investing part of their reserves in equities. About 9 percent of the foreign- exchange reserves of Switzerland’s central bank were invested in shares at the end of the third quarter, the Swiss bank said on its website.
The investment will be made in equity index trackers and will include between 1,500 to 2,000 shares, among them stocks like Apple Inc. (AAPL), Saadon said.
The investment, which in the initial phase will amount to 2 percent of the $77 billion reserves, or about $1.5 billion, will be made through UBS AG and BlackRock Inc. (BLK), Bank of Israel spokesman Yossi Saadon said in a telephone interview today. At a later stage, the investment is expected to increase to 10 percent of the reserves.
A small number of central banks have started investing part of their reserves in equities. About 9 percent of the foreign- exchange reserves of Switzerland’s central bank were invested in shares at the end of the third quarter, the Swiss bank said on its website.
The investment will be made in equity index trackers and will include between 1,500 to 2,000 shares, among them stocks like Apple Inc. (AAPL), Saadon said.
More from Globes:
The Bank of Israel today began investing a small part of its $77 billion in foreign currency reserves in US stocks. The central bank's latest Markets Division report states that the new Bank of Israel Law (5770-2010) allows the Bank of Israel to make equity investments, and that it began to do so today.
The Bank of Israel will invest $1-1.5 billion in US stocks, 2% of its portfolio. The report adds that the Bank of Israel has been investing in public bodies in developed countries since 2010.
The Bank of Israel said that the investments in US stocks would be made through UBS AG (NYSE; SWX: UBS) and BlackRock Inc. (NYSE: BLK) The Bank of Israel's Markets Division, which specializes in bond investments, will not be handling the equity investments. It added that the traders will have very limited discretion, and that they may only quote leading indices, in order to reduce the risk.
"We have almost no exposure to countries with big problems. We constantly examine where we invest the foreign currency reserves, and I can promise you that you can relax," Governor of the Bank of Israel Prof. Stanley Fischer said at a closed conference in mid-January.
"The Bank of Israel does not disclose the currency composition of its portfolio, especially not the composition of its equity portfolio," says the Bank of Israel. At the January conference, Fischer said, "Imagine if we were to begin publishing where you invest, so when you stop buying the bonds of a particular country, and this is published, we'll get complaints. That is why we do not publish." He added, "We have an external committee that conducts the examinations. You can assume that we're aware to the fact that there are problems in certain countries."
The Bank of Israel will invest $1-1.5 billion in US stocks, 2% of its portfolio. The report adds that the Bank of Israel has been investing in public bodies in developed countries since 2010.
The Bank of Israel said that the investments in US stocks would be made through UBS AG (NYSE; SWX: UBS) and BlackRock Inc. (NYSE: BLK) The Bank of Israel's Markets Division, which specializes in bond investments, will not be handling the equity investments. It added that the traders will have very limited discretion, and that they may only quote leading indices, in order to reduce the risk.
"We have almost no exposure to countries with big problems. We constantly examine where we invest the foreign currency reserves, and I can promise you that you can relax," Governor of the Bank of Israel Prof. Stanley Fischer said at a closed conference in mid-January.
"The Bank of Israel does not disclose the currency composition of its portfolio, especially not the composition of its equity portfolio," says the Bank of Israel. At the January conference, Fischer said, "Imagine if we were to begin publishing where you invest, so when you stop buying the bonds of a particular country, and this is published, we'll get complaints. That is why we do not publish." He added, "We have an external committee that conducts the examinations. You can assume that we're aware to the fact that there are problems in certain countries."
In other words, while the Fed's charter forbids it from buying US equities outright, it certainly can promise that it will bail out such bosom friends as the Bank of Israel, the Swiss National Bank, and soon everyone else, if and when their investment in Apple should sour.
Luckily, this means that the exponential phase in risk is approaching as everyone will now scramble to frontrun central bank purchases no longer in bonds, but in stocks outright, leading to epic surges in everything risk related, then collapse and force the Fed to print tens of trillions to bail everyone out all over again, rinse repeat, until this chart becomes asymptotic. We say luckily, because it means that the long overdue systemic reset is finally approaching.
Important because I and you and a few of the rest of us have been saying this for far too long.
[font color=red]Over the past half a millennium western property law was developed precisely to prevent some feudal lord or modern bankster from showing up and claiming title in order to steal property. This is why in the US every property sale had to be recorded—in pen and ink—at the county recorder’s office. The mortgage note and deed had to be retained by the creditor and presented to foreclose on a delinquent homeowner. It had to match the county records of ownership. That has now been destroyed in the US.[font color=black]
This is at the core of all the other shit. It's a scheme to demolish democracy or anything even remotely resembling govenment with the consent of the governed.
When you and I claim that the far right wing is trying to take us back to the 1350s, this is what we based that on because it's not at all.
Hi. 