STOCK MARKET WATCH, Monday October 18

[ozymandius]

Source: du

STOCK MARKET WATCH, Monday October 18, 2010

AT THE CLOSING BELL ON October 15, 2010

Dow 11,062.78 -31.79 (-0.29%)
Nasdaq 2,468.77 +33.39 (+1.35%)
S&P 500 1,176.19 +2.38 (+0.20%)
10-Yr Bond... 2.55 -0.02 (-0.70%)
30-Year Bond 3.98 -0.01 (-0.25%)

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Market Conditions During Trading Hours

Euro, Yen, Loonie, Silver and Gold

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Handy Links - Market Data and News:Economic Calendar    Marketwatch Data    Bloomberg Economic News    Yahoo! Finance    Google Finance    Bank Tracker    
Credit Union Tracker    Daily Job Cuts

Handy Links - Economic Blogs:
The Big Picture    Financial Sense    Calculated Risk    Naked Capitalism    Credit Writedowns
Brad DeLong      Bonddad    Atrios    goldmansachs666    The Stand-Up Economist

Handy Links - Government Issues:
LegitGov    Open Government    Earmark Database    USA spending.gov

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

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

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

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

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

Read more: du

[ozymandius]

1. Today's Reports

09:00 Net Long-Term TIC Flows Aug
Briefing.com NA
Consensus NA
Prior $61.2B

09:15 Industrial Production Sep
Briefing.com 0.1%
Consensus 0.2%
Prior 0.2%

09:15 Capacity Utilization Sep
Briefing.com 74.7%
Consensus 74.8%
Prior 74.7%

10:00 NAHB Housing Market Index Oct
Briefing.com 13
Consensus 13
Prior 13

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

[Po_d Mainiac]

23. We don't vant yur steenkin dollars

.........................................................................
Oct 18 09:00 Net Long-Term TIC Flows Aug $38.9B previous $63.3B

[maddezmom]

2. always a lurker

and today get to be the first rec. :hi:

[ozymandius]

4. Why, thank you, maddezmom.

I appreciate that very much. Good morning. :donut: :donut: :donut:

[ozymandius]

3. Oil falls below $81 as US dollar rebounds

SINGAPORE – Oil prices fell below $81 a barrel Monday in Asia as a month-long rally loses momentum amid a strengthening U.S. dollar.

Benchmark oil for November delivery was down 50 cents to $80.75 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract lost $1.44 to settle at $81.25 on Friday.

The euro fell to $1.3886 on Monday from $1.3977 on Friday while the dollar slipped slightly to 81.26 yen from 81.43 yen. Most Asia stock markets were down Monday.

In other Nymex trading in November contracts, heating oil fell 0.86 cent to $2.222 a gallon and gasoline dropped 0.38 cent to $2.10 a gallon. Natural gas slid 5.5 cents to $3.38 per 1,000 cubic feet.

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

[CatholicEdHead]

35. The US Dollar is now at about parity with the Australian Dollar

:(

[CatholicEdHead]

36. Dupe

[ozymandius]

5. Top 400 charities see billions less in donations

WASHINGTON – A new ranking of the nation's 400 biggest charities shows donations dropped by 11 percent overall last year as the Great Recession ended — the worst decline in 20 years since the Chronicle of Philanthropy began keeping a tally.

An earlier report by the Giving USA Foundation found overall charitable giving declined 3.6 percent last year. That report included giving to private foundations and to smaller charities, while the Chronicle's survey only includes top charities raising money from the public.

The Salvation Army, based in Alexandria, Va., maintained its No. 2 ranking after the United Way, with $1.7 billion in contributions, despite a decline of 8.4 percent.

Only four charities in the top 10 reported increased contributions over last year, including Alexandria, Va.-based Catholic Charities USA, which reported a 66 percent jump. For many, that growth has been driven by donated goods rather than cash. For instance, the Stamford, Conn.-based AmeriCares Foundation grew the fastest in 20 years to be ranked No. 4, up from 86th in 1991. Its contributions were mostly food, medicine and other goods, not money.

http://news.yahoo.com/s/ap/20101018/ap_on_bi_ge/us_top400_charities

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I frequently donate items to Goodwill. In turn, I often buy my clothes there too. One remarkable, noticeable change is the quality of the goods for sale. It is very difficult to find clothing consistent in quality that was customary two years ago. I also notice more "young professionals" shopping at Goodwill for business casual attire.

[ozymandius]

6. Top Treasury official returning to academia

Alan Krueger, a top economics official at the Department of Treasury, will leave his post next month to return to academia, becoming the latest in a string of departures from the Obama administration's economic team.

A spokesman for the Treasury confirmed that Krueger, assistant secretary for economic policy, would return to Princeton University, where he previously served as a professor of economics. The Wall Street Journal first reported the news late Friday.

Krueger has served as the top adviser to Treasury Secretary Timothy Geithner since the administration took power last year.

http://news.yahoo.com/s/ap/20101016/ap_on_bi_ge/us_economic_adviser_departure

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I sense a theme here. Could someone please give Geithner a shove on their way out?

[Demeter]

32. "It's Just the Traditional Midterm Turnover--Nothing to See Here, Move Along"

Right. It took dynamite and indictments to move out a Bushie.

I think the bubble is bursting for anyone with training and ethics. Meanwhile, Obama is out campaigning, drawing crowds and getting no publicity for it...the world has gone mad.

If Geithner leaves, expect the deluge. Nothing less than imminent destruction will drive that corporate Borg out of position.

[ozymandius]

7. Foreclosure mess to test stocks' rally

NEW YORK (Reuters) – U.S. banks will be in the limelight this week as several household names report earnings and investors worry a forced halt to foreclosure proceedings could hit the sector and end the recent rally.

Investors worry banks did not follow proper due diligence when foreclosing on homes whose owners were not making mortgage payments, which could result in costly litigation, fines and additional mortgage repurchases.

Investors will pepper bank executives with questions when those companies present earnings reports this week. Banks reporting results include Wells Fargo (WFC.N), Bank of America, and Citigroup Inc (C.N), three of the largest mortgage lenders in the nation.

http://news.yahoo.com/s/nm/20101017/bs_nm/us_usa_stocks_weekahead

Personally - I do not give a damn about "the rally" as such talk is a meaningless exercise. The sui generis rally is ridiculously decoupled from fundamentals. So let's talk fundamentals in terms of how this foreclosure scam will reach the Banksters at the highest levels.

As I said at my other location on the internet - these fraud claims will eat the Banksters up. Notice there is no "alleged" fraud. It happened. The issue remaining is to ferret out the alleged perpetrators, the individuals who broke the law.

[Demeter]

18. It's All Over but the Screaming and Whining

I hope. Certainly the bailout scam is through.

[dpibel]

22. "proper due diligence"

"Investors worry banks did not follow proper due diligence when foreclosing on homes..."

Or, as we put it in the real world, "Investors worry banks engaged in widespread perjury and fraud, and that no one can establish clear title on any property that's been mortgaged in the last five years..."

It's good to know the propaganda machine never rests. "Don't worry, small people. Just a little due diligence problem."

[Po_d Mainiac]

30. just part of the equation

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=389&topic_id=9291921#top

[ozymandius]

8. AIG’s Treasury Backstop Shows Rating Firms’ Influence

Oct. 15 (Bloomberg) -- American International Group Inc.’s plan to exit U.S. ownership includes a new $2 billion backstop from the Treasury Department after credit raters said the company may need emergency capital as it regains independence.

The funds will be available when the government converts its preferred stake into common stock and can be drawn through March 2012 or until AIG sells at least $2 billion in shares, the New York-based insurer said in a Sept. 30 filing. AIG must maintain investment-grade ratings to execute its plan, which hinges on selling bonds and stock to private investors as the government withdraws support.

The 2008 bailout of AIG has been revised four times, swelling to $182.3 billion, in part to prevent rating downgrades that would trigger payments from AIG on mortgage-linked derivative contracts and hurt the firm’s ability to attract insurance buyers. Moody’s Investors Service, Fitch Ratings and Standard & Poor’s have been criticized by lawmakers for giving top grades to housing-linked bonds before that market collapsed.

http://noir.bloomberg.com/apps/news?pid=20601109&sid=aJj_TmHk_mx4&pos=15

Three things come to mind that cause some cognitive dissonance:

(1) The ratings agencies have demonstrated their reluctance to stand behind their ratings now that a hook awaits them for their published assessments. These agencies bear a huge burden of responsibility for the financial crises that wiped out fortunes because people believed their shit ratings on MBS and the parties that trafficked in them. Yet -somehow- the world trembles in fear of these same companies and their pronouncements.

(2) The U.S. Treasury will relinquish its stake in preferred shares of AIG that will be sold to private investors. At the same time: AIG will receive support from Treasury is the plan fails. My head hurts.

(3) AIG appears ready to enter the insurance business again in the same arena that has been set ablaze with mortgage fraud. This is fraud perpetrated by (and through) institutions with which AIG does business and insuring many of the same products related to mortgages.

My head really hurts now.

[ozymandius]

9. Have a nice day, all.

I extend my wishes for an easy day.

:hi:

[tclambert]

10. Sheriff 'very certain' body is that of missing banker

BY ELISHA ANDERSON
FREE PRESS STAFF WRITER


A body believed to that of missing Mt. Clemens bank president and CEO David Widlak was recovered Sunday evening in Harrison Township, Macomb County Sheriff Mark Hackel said today. The badly decomposed body was found Sunday by two duck hunters on Lake St. Clair, Hackel said in a morning news conference. An autopsy will be performed today to verify that the body is that of Widlak. Hackel said Widlak’s personal identification was found with the body and clothing on the body matched the description of the banker's attire on the day he disappeared four week ago. Hackel said he is "very certain" the body is Widlak.

A cause of death is not known.

From: http://www.freep.com/article/20101018/NEWS04/101018004/1001/news
_______________________________________________________________

This banker went missing a month ago. They found his car still in the bank's parking lot, and he had just vanished, generating much speculation as to what happened and why. He was last seen on the bank's security video walking out the back door. Duck hunters found his body in a lake, with his wallet, ID and cash still there.

It may not have any financial relevance, but when a banker goes missing and dies an unnatural death, the odds indicate financial concerns probably had something to do with it.

[DemReadingDU]

11. suicide? foul play?

[tclambert]

14. They don't know yet.

Waiting for the autopsy. The body has apparently been in the water for a month. If you watch CSI or Bones, you know that means the body's deterioration may make determining the cause of death difficult.

That the wallet and cash remained with the body suggests no robbery occurred. They didn't say the body had been weighted down at all. So, if it was a body dump, it wasn't very professional. I'm not sure how far the lake is from the bank. It may have been within walking distance. If so, suicide sounds likely. But no one found a note.

[tclambert]

12. Some September car sale numbers

Overall, almost 960,000 vehicles were sold in North America this September, vs. 750,000 last September. Autoblog says every company increased sales.

Chrysler: +60.9%
Ford: +46.33%
Nissan NA +33.96%
American Honda: +26.07%
GM (core): +22.07%
Toyota: +16.78%

Data from: http://www.autoblog.com/2010/10/01/by-the-numbers-sept-2010-couldnt-wait-until-after-paris-edi/

Now, for some howevers: 1) September, 2009 was the first month after Cash for Clunkers expired, and sales dropped from the previous August. 2) North American vehicle sales in September, 2007 (before the financial meltdown) totaled 1.3 million, about 340,000 more than this September. 3) Nobody sold over 200,000 last month. In 2007, GM sold over 300,000 a month.

So . . . car sales have increased, but still have a long way to go before reaching pre-crash numbers. Oh, and Chrysler sold 100,000 cars last month. That means they should be able to survive.

[Loudmxr]

13. I have to say I saw a pretty cool Chrysler on the road today. It had a color like my Dad's '49.

[Po_d Mainiac]

15. This is a very scary list

36- Do you know what our biggest export is today? Waste paper. Yes, trash is the number one thing that we ship out to the rest of the world as we voraciously blow our money on whatever the rest of the world wants to sell to us.

http://www.zerohedge.com/article/guest-post-currency-wars-misguided-us-economic-policy

That sounds familiar

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=114x73822#73921

[54anickel]

20. When I read "Wast paper" I just automatically thought of the US Dollar. n/t

[Po_d Mainiac]

24. roflmfao! n/t

[Po_d Mainiac]

16. Another chapter for Tansy's book more to 'foreclosuregate"

This is a composite of various posts I've made..These precede the stuff that hit the blogs over the weekend. If posted letters are real, hosed investors are corrently submitting repurchase demands from Ally, WF and BoA

Unlike the old days, the vast majority of current RE loans are not the property of the original underwriter nor do they exist as a singular financial instrument. They are/were often securitized and held as investments by everyone from State retirement funds to private individuals (and everything in between) Groups of loans would be bundled to form mortgage backed securities (MBS) It's also common for parts of a mortgage to split amongst different MBS.

The original underwriter (Usually an Investment Bank, but not always) is often just the servicer of the loan. It's the responsibility of the servicer to keep the money flowing from a loan to the holder/s of the MBS/s in which the loan or part was bundled and sold off in. An investor or fund manager would place an order for an MBS that had a coupon of X (paid interest to that amount) and would be comprised of loans in which the mortgagors met certain requirements, the properties met certain requirements (SF or MF, commercial, primary owner occupied, etc), and the loans themselves fell within certain parameters. In most cases the MBS was also paid for up-front In other words, not unusual for the issuer of a loan to never have had any skin in the game. The contracts were/are pretty detailed with no room for mis-interpretation.

Basically the agreement is: here's X amount of money. In return I want RE loans that meet these specifications and will pay me this amount of interest

The buyer of an MBS would insert verbiage in the contract to enable the return of and receive full compensation any portion of an MBS that did not meet the conditions of the original purchase contract. If the number of non-conforming loans exceeds a certain percentage of the total MBS, the investor usually had language in the contract that allowed for the whole instrument to be returned as defective, and receive a total refund of the initial investment

Basically: if you screw up I'll demand my money back for part or all of the security

If the bank that bundled the MBS had prior knowledge that there were non-conforming loans in an MBS and passed if off anyway that is fraud. (It's just a matter of whether the fraud is civil or criminal in nature)

Now the MERS document thing.

How can the investors prove that they were screwed? The original documents would clear the issue up in a heartbeat. The original documents would also prove in a heartbeat if there was fraud. There are a lot of people/States/funds that have lost serious amounts of money on MBS that by all rights should have been safe investments

If all of a sudden the courts and investors have the blue ink papers setting out in the open, and everything is as it should be. Then it can be written off as just some clerical missteps. But if our country was raped by banksters whom knowingly committed widespread fraud, they deserve to rot in a cell.

If the doc problem is an attempt to deceive the courts then the matter is both civil and criminal.

We know loans that were securitized were not done so in a manner that met the perimeters of the MBS client's order. The problem for the originators is if they produce the docs for the courts, the fund managers and others that are getting hosed would also have a chance to get a look-see.

I seriously doubt that fund managers just told the banks to toss a bunch of mortgages together into a security. We ain't fussy. Here's the cash.

Mortgages and mortgagees were supposed to meet certain minimums and ratings before that particular note could be a component of an MBS. When/if the current owners of those securities start pawing through the paperwork, they may well have every right to be made whole again. There are also triggers worded into contracts that allow for non complying securities to be kicked back upon the originators.

If you look at the current paper problem from that respect:
A)Things start to make a whole lot more sense
B)The so-called clerical errors and lack of due diligence becomes a massive cover-up to conceal fraud.
C)The are a few trillion ($) reasons this is a big frigging deal

I believe the assclowns that got the bonuses were not screw-ups. They knew exactly what they were doing. In the real world it's called fraud and or racketeering.

This is from testimony before the The Financial Crisis Inquiry Commission

Clayton Holdings (CH), a Connecticut firm that analyzed mortgages

“Of the 911,000 loans that Clayton scrutinized, 72 percent either met the mortgage seller’s standards and other guidelines set by the buyer of the mortgages, typically Wall Street firms, or they had off-setting factors that allowed Clayton to give them a passing grade"

In other words:
The company (CH) examined 911,039 mortgages
Of those, 255,802 mortgages Clayton flagged defective
Wall Street ended up waiving 100,653 of them

1 in 9 loans that were securitized were known to be defective or substandard and the investors were not informed.
This is called fraud! It would look worse to give cash to friggin criminals
…………………

[Dr.Phool]

27. That should be it's own post in editorials.

I never could figure out why they wouldn't preserve the written documents.

Now it makes sense. Destroy the evidence.

[Po_d Mainiac]

28. Exactly!

What the asshats failed to think through, is now there will arguments that by shredding the contracts the contracts may very well be null and void.

If I loan you $1K and then tear up the IOU, I have no legal standing on forcing you to pay me back...I fail to see any difference.

[Demeter]

33. Meaning: Free Houses for Everyone!

Or everyone lucky enough to be tangled in the scam.

[Po_d Mainiac]

29. Think about this

What happens when when some law-firm/AG puts this all together and proves in a class action suit that the whole housing bubble was a fraud? A carefully worked out ponzi to literally create money from air. My bet as to where the plan originated is either GS or JPM (or both)

[Demeter]

17. Dav id Michael Green Has a Crashing Commentary For That Cartoon

read it and weep.

http://www.regressiveantidote.net/Articles/The_Ricky_Ray_Rector_President.html

[Tansy_Gold]

19. Must read. Everyone -- must read. Scary as hell, but really not

surprising to those of us who have been THINKING the past few years.

Yeah, I know: Thinking has pretty much gone out of style in many sectors.




TG, still thinkin'. . . .

[bread_and_roses]

21. Yes, read that over the weekend....

what is there to say? I hadn't read the interview that prompted the column...really, it is all too bad, and more than frightening - really, it leaves me speechless -

[Dr.Phool]

26. Interview excerpts.

http://www.nytimes.com/2010/10/17/magazine/17obama-t.html

[Festivito]

25. Debt: 10/14/2010 13,606,947,094,101.90 (DOWN 5,352,654,891.46) (Thu)

Debt: 10/14/2010 13,606,947,094,101.90 (DOWN 5,352,654,891.46) (Thu)
(Down a lot again. Good day.)
A spruced up mountainview prison after the police station.
(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)
= 9,005,974,021,915.06 + 4,600,973,072,186.84
DOWN 3,450,466,367.69 + DOWN 1,902,188,523.77

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

THINKING IN BILLIONS: Think 3 or 4 dollars per billion in a 310-Million person America.
If every American, man, woman and child puts in $3.22 THAT'S 1B$, and $3,220.83 makes 1T$.
A family of three: Mom, Dad, Child: $9.66, ABOUT TEN BUCKS for a 1B$ 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 310,479,392 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 $43,825.6.
A family of three owes $131,476.81. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 22 reports in the last 30 days.
The average for the last 22 reports is 7,578,254,339.75.
The average for the last 30 days would be 5,557,386,515.82.

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$/day.
There were 260 reports in 379 days of FY2011 averaging 6.53B$ per report, 4.48B$/day.
Above line should be okay

PROJECTION:
There are 829 days remaining in this Obama 1st term.
By that time the debt could be between 14.7 and 18.2T$.
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)
10/14/2010 13,606,947,094,101.90 BHO (UP 2,980,070,045,188.82 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 +0,045,324,063,210.20 ------------* BHO
Endof11 +43,064,629,999,550.00 ------------* * * too many, still * * *

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
09/23/2010 -008,701,405,875.05 --
09/24/2010 +000,034,117,767.19 ------------*******
09/27/2010 -000,066,407,812.28 ---- Mon
09/28/2010 +001,463,391,855.14 ------------*********
09/29/2010 +000,391,315,850.35 ------------********
09/30/2010 +058,907,978,013.89 ------------**********
10/01/2010 -005,585,417,177.51 --
10/04/2010 +000,259,208,393.70 ------------******** Mon
10/05/2010 +000,697,809,032.26 ------------********
10/06/2010 +000,102,633,566.23 ------------********
10/07/2010 -010,581,200,428.89 -
10/08/2010 -000,047,594,597.51 ----
10/12/2010 -002,308,905,840.19 -- Tue
10/13/2010 +004,079,531,881.58 ------------*********
10/14/2010 -003,450,466,367.69 --

35,194,588,261.22 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=4576178&mesg_id=4578374

[Festivito]

47. Debt: 10/15/2010 13,665,926,643,255.96 (UP 58,979,549,154.06) (Fri)

(Up a lot again. Good day.)
Fixed a ceiling fan.
(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)
= 9,059,271,396,291.56 + 4,606,655,246,964.40
UP 53,297,374,376.50 + UP 5,682,174,777.56

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

THINKING IN BILLIONS: Think 3 or 4 dollars per billion in a 310-Million person America.
If every American, man, woman and child puts in $3.22 THAT'S 1B$, and $3,220.75 makes 1T$.
A family of three: Mom, Dad, Child: $9.66, ABOUT TEN BUCKS for a 1B$ 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 310,486,592 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 $44,014.55.
A family of three owes $132,043.64. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 22 reports in the last 30 days.
The average for the last 22 reports is 7,631,804,278.15.
The average for the last 30 days would be 5,596,656,470.65.

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$/day.
There were 261 reports in 380 days of FY2011 averaging 6.73B$ per report, 4.62B$/day.
Above line should be okay

PROJECTION:
There are 828 days remaining in this Obama 1st term.
By that time the debt could be between 14.8 and 18.3T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
10/15/2010 13,665,926,643,255.96 BHO (UP 3,039,049,594,342.88 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 +0,104,303,612,364.20 ------------* * BHO
Endof11 +40,193,654,666,246.70 ------------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | per 1B Too much to predict at this time.

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
09/24/2010 +000,034,117,767.19 ------------*******
09/27/2010 -000,066,407,812.28 ---- Mon
09/28/2010 +001,463,391,855.14 ------------*********
09/29/2010 +000,391,315,850.35 ------------********
09/30/2010 +058,907,978,013.89 ------------**********
10/01/2010 -005,585,417,177.51 --
10/04/2010 +000,259,208,393.70 ------------******** Mon
10/05/2010 +000,697,809,032.26 ------------********
10/06/2010 +000,102,633,566.23 ------------********
10/07/2010 -010,581,200,428.89 -
10/08/2010 -000,047,594,597.51 ----
10/12/2010 -002,308,905,840.19 -- Tue
10/13/2010 +004,079,531,881.58 ------------*********
10/14/2010 -003,450,466,367.69 --
10/15/2010 +053,297,374,376.50 ------------**********

97,193,368,512.77 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=4578540&mesg_id=4578674

[Po_d Mainiac]

31. Dollar shits bed..market rises.....

This is the same 4X : equity : commodity ..relationship I've
been yapping about...pretty obvious but you won't hear it from
any of the media pump monkeys


http://www.zerohedge.com/article/art-cashin-explains-wh...

quote from Art Cashin:
It's frustrating having honed my skills over 50 years to be
able to interpret news, and look at a piece of economic data,
and try and outwit the rest of the world by figuring out how
it would work, and now all you have to do is look and see how
the dollar is reacting and know how everything else works. And
that huge correlation is not good for people because if
everything is correlated in a basket like that, it is very
difficult for people to hedge and protect themselves, and
therefore when assets move they tend to move altogether."

[Demeter]

34. That's Because there's no such thing as a paper asset

The full faith and confidence clause has been broken for good.

The only assets today are things you can own and take home with you...or call home. Debt is not an asset. Lottery ticket is not an asset. Betting slip is not an asset. Common stock is not an asset. Preferred stock is not an asset. A bond is meant to be broken...you get the drift. And a paper dollar is not worth the paper it's printed on, nor any other fiat currency.

[54anickel]

37. Wells Fargo Sends Out Panicked Instructions To Prepare For Coming Flood Of Mortgage Repurchase Reque

Wells Fargo Sends Out Panicked Instructions To Prepare For Coming Flood Of Mortgage Repurchase Requests

A lot of the attention has been paid to Bank of America's mortgage repurchase liability, but obviously it's not the only one.

ZeroHedge obtained an internal memo from Wells Fargo detailing the banks new procedures to handle what may be a flood of repurchase requests, as end investors use fraud allegations and sloppy paperwork to demand refunds on the mortgages they bought from the bank.


http://www.businessinsider.com/wells-fargo-mortgage-repurchase-memo-2010-10


An image from another story from BI



http://www.businessinsider.com/bank-of-america-mortgage-report-2010-10#-5

[StarburstClock]

44. Move along, nothing to see here, in fact Citigroup looks goody good good!

That's the story being fed America today, hence the stock market rise. France and England may be rioting and filling up with uncollected garbage on the streets due to outrageous politico demands to give up pensions, never retire and prop up worldwide criminal banks but hey, Citigroup is a great buy cause they're double plus goody good!

The U.S. is 1 gas shortage or food shortage away from rioting too but "who could ever have predicted it"? There's a slogan for everything to dismiss all thinking, all is good in the land of branding slave traded products and war as "support our troops" and "yes we can". Who can be bothered with talk of finance or world views when Justin Beiber is involved in a scandal? Plus, who doesn't know by now that when massive social unrest starts rearing it's ugly head all a good government propagandist has to do is whip out the Osama Bin Laden brand. Put troops all over the streets and say it's because the evil boogie man said mean things about the "homeland".

Corporate and foreign financed elections are a super double plus good too. Please put all truthfulness aside for now so your paid-off whore can get elected, they'll be plenty of time for honesty later when it can be fully dismissed as "naysaying" and "doom and gloomers". If you're lucky, your towns protesters can be test bunnies for the latest sonic weapon or group arrest techniques because we all know how bad all those protesters are. So just sit back and gleefully watch as all your data in mined, your life is under constant surveillance and the day-to-day discrimination you face is tossed into the great big pile of the old American dream which is now completely FUBAR.

[Po_d Mainiac]

46. +1 Nicely worded! n/t

[ozymandius]

45. Thank you for this!

This was quite a find.

[Papa Boule]

38. Right or wrong, this is a delicious read

http://www.zerohedge.com/article/gonzalo-lira-what-brian-and-ilsa-said-their-bank-%E2%80%9Cshow-me-note%E2%80%9D

[Po_d Mainiac]

39. I recall the original piece

The moral of that story was...After you get openly screwed by your government, your banking system and finally by the courts: you realize that we are no longer a country of morals.

This is a prelude to anarchy

[Papa Boule]

40. And people will flock to authoritarians when anarchy really threatens

Authoritarian dreams come true.

[Po_d Mainiac]

41. Try getting that point across to the sheeple n/t

[Tansy_Gold]

42. Sadly . . . . . . . . .

If Napoleon, Lenin, Hitler are examples. . . .


The trick is to avoid anarchy following the revolution.




TG

[Po_d Mainiac]

43. Agreed.....History does like repeating itself n/t