STOCK MARKET WATCH, Friday November 12

[ozymandius]

Source: du

STOCK MARKET WATCH, Friday November 12, 2010

AT THE CLOSING BELL ON November 11, 2010

Dow 11,283.10 -73.94 (-0.66%)
Nasdaq 2,555.52 -23.26 (-0.91%)
S&P 500 1,213.54 -5.17 (-0.43%)
10-Yr Bond... 2.65 +0.00 (+0.08%)
30-Year Bond 4.23 -0.01 (-0.14%)

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

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

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

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

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

Read more: du

[ozymandius]

1. Today's Report

09:55 Mich Sentiment Nov
Briefing.com 68.5
Consensus 69.0
Prior 67.7

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

[ozymandius]

2. Oil slides to near $86 amid Europe, China jitters

BANGKOK – Oil prices tumbled to near $86 a barrel Friday in Asia as investors shifted from commodities to the dollar amid renewed fears about a debt crisis in Europe and slowing growth in China.

The contract settled unchanged at $87.81 on Thursday after earlier hitting a two-year high on news that U.S. crude and gasoline stockpiles declined last week in a sign of improving demand for fuel.

Oil prices have climbed steadily in recent weeks because the dollar has weakened against other currencies. That's largely because of the Federal Reserve's decision to pour $600 billion into a bond-buying program to stimulate the U.S. economy.

In other Nymex trading in December contracts, heating oil fell 3 cents to $2.40 a gallon and gasoline was flat at $2.24 a gallon. Nautral gas dropped 2 cents to $3.91 per 1,000 cubic feet.

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

[SarahB]

20. Gas has gone up 10 cents/gallon in one week here.

It's now at $3.11. I'm wondering why the media has been silent on this.

[Warpy]

40. Same here, although NM is relatively cheap at $2.79

I've been noticing wider swings in daily currency prices and the market is getting a lot less predictable.

Hold onto your hats, this might be the start of the roller coaster ride.

[ozymandius]

3. World stocks tumble amid China rate hike jitters

BEIJING – A plunge in Chinese stocks dragged world markets lower Friday as investors fretted Beijing will take new steps to cool the world's No. 2 economy and global leaders meeting in South Korea papered over currency tensions.

The losses in Asia and Europe followed a down day on Wall Street where Cisco Inc., the world's largest maker of computer networking gear, rattled investors by cutting its sales forecast for a second quarter in a row.

Adding to negative sentiment was mounting speculation that Ireland — one of Europe's most financially troubled countries — would not be able to cut public spending and may have to resort to a bailout.

China's Shanghai Composite index dived 5.2 percent to 3,310.58 amid expectations of more government measures to tighten credit and slow economic growth after inflation hit a 25-month high in October. The Shenzhen Composite Index for China's smaller second exchange slumped 6.1 percent.

more

[ozymandius]

7. Stocks, Commodities Fall on China Rate Concern; Yen Strengthens

Nov. 12 (Bloomberg) -- Stocks declined, sending Europe’s benchmark index down the most in seven weeks, while U.S. futures and commodities fell on speculation China will raise interest rates. The yen strengthened and 30-year Treasury bonds rallied.

The Stoxx Europe 600 Index slumped 0.9 percent at 10:35 a.m. in London, heading for the biggest one-day drop since Sept. 22. Futures on the Standard & Poor’s 500 Index lost 0.7 percent. The yen appreciated against all 16 of its most-traded counterparts. The yield on the 30-year bond fell 10 basis points. The Spanish 10-year note yield climbed for the 14th day, while similar-maturity Irish debt snapped a 13-day slide. The S&P GSCI index of commodities sank the most in three weeks as white sugar tumbled 12 percent and oil fell 2.3 percent.

The decline in U.S. futures indicated the S&P 500 may extend the biggest weekly drop in three months. Confidence among U.S. consumers probably improved in November for the first time in three months, economists said before a report due at 9:55 a.m. New York time. The Thomson Reuters/University of Michigan preliminary sentiment index rose to 69 from a final reading of 67.7 in October, according to the median forecast.

more

This news comes hand-in-hand with bond crises in the EU.

Europe Tries to Stem Bond Rout as G-20 Leaders Discuss Ireland

Nov. 12 (Bloomberg) -- European finance ministers sought to reassure investors who have driven bond yields to records in Ireland and Portugal as leaders at a Group of 20 summit in Seoul addressed the Irish debt crisis amid speculation the European Union will need to step in with a bailout.

Officials from Germany, France, Italy, Spain and the U.K. issued a statement in South Korea saying a crisis-resolution mechanism they’re discussing that may force bondholders to share the cost of a bailout wouldn’t apply to outstanding debt.

German Chancellor Angela Merkel said a financial backstop agreed upon by the EU in May is “in place” if any country needs it. She rejected criticism by Ireland and others that her push to hold bondholders accountable in any debt crisis after mid-2013 worsened Europe’s current woes.

more

The ECB has become the sole bond buyer as the international market for ECB member nations' bonds evaporates.

[Demeter]

25. So the ECB and the Fed Reserve Have Something in Common

a game of currency chicken

[ozymandius]

4. Obama: Fed action not designed to weaken dollar

SEOUL, South Korea – Staking his ground in the global fight over the world's major currencies, President Barack Obama on Friday disputed claims that the U.S. was deliberately weakening the dollar while accusing China of manipulating its yuan.

Obama said the decision by the Federal Reserve to pump $600 billion into the U.S. economy was designed to give a boost to a slow recovery and address fears of deflation. Germany and other members of the Group of 20 of the largest economies meeting here this week have complained that the infusion of cash will devalue the dollar and hurt their exports to the United States.

The Fed operates independently from the executive branch and Obama has been careful to avoid interfering in its actions. But he broke from his policy of not commenting on the Fed decision to respond to those complaints.

more

Okay. I think this is disingenuous. Obama conversations with Geithner are communicated to Bernanke. Geithner and Bernanke are joined at the hip. Geithner's phone records show that he and Bernanke are BFF.

[FarCenter]

33. International finance is war by other means

Always has been.

[ozymandius]

5. Stock index futures signal lower open

(Reuters) – Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 fell 0.8 to 1.2 percent, pointing to a sharply weaker start for equities on Wall Street on Friday.

Thomson Reuters/University of Michigan Surveys of Consumers release at 1455 GMT (9:55 a.m. ET) preliminary November consumer sentiment index. Economists in a Reuters survey expect a reading of 69.0 compared with 67.7 in the final October report.

European stocks dropped on Friday, losing ground for the third straight session, hurt by escalating fears over Ireland's debt problems that also dragged the euro to six-week lows versus the dollar. The FTSEurofirst 300 (.FTEU3) index of top European shares was down 1.3 percent. * EU leaders sought to reassure bondholders unnerved by Ireland's fiscal problems they would not be forced to take a writedown, but Ireland's Prime Minister said recent French and German comments had aggravated the problem.

more

[boomerbust]

15. Listening to the media

A total Republican takeover signals a huge rise in the stock market? A total Republican takeover tells me to convert to CDs for the time being.

[Po_d Mainiac]

23. Don't bother listening to the media.

The Indexes are reacting to the 4X moves only. Today is shaping up to be a classic example. While you were sleeping the U$D inched closer to the shredder.

The actual market news is dismal. The 'good' build-up in inventories is now a black sheep. Profit margins are squeezed thin. Companies with cash are buying back stock, while insiders are selling. MF outflows are unabated. All of this should signal what the 'media' likes to call a correction. It should be closer to a meltdown.

The indexes will follow gravity (Inverse to the dollar)...maybe down a bit at the open, and another treading water session. Green, or damn near by 4pm.

gold $1400/Silver $27.25+

YMMV

[Po_d Mainiac]

38. yikes...there goes my batting average n/t

[Demeter]

6. Matt Taibbi: Courts Helping Banks Screw Over Homeowners

http://www.rollingstone.com/politics/news/17390/232611

ABOUT FLORIDA'S ROBO-SIGNING, ROCKET-DOCKET FORECLOSURE COURTS....

[Demeter]

8. ALERT: Casus Belli - Ex-Post-Facto Law!

http://market-ticker.org/akcs-www?post=171940

After years of negative judicial decisions about the use of a straw-man on mortgages, MERS was about to lose its existence as well as its credibility. But now all of that is set to change as Wall Street money is pouring into the coffers of those who are receptive (i.e., almost everyone in Congress). The legislation is already being drafted under the interstate commerce clause to ratify MERS and everything it did retroactively. It appears that the Obama administration is ready to pardon all the securitization deviants by signing this bill into law. This information is corroborated by several people who are in sensitive positions — persons who would be the first to know such proposals.

Fortunately, there are some people in Washington who have a conscience and do not want to see this happen.

Besides the obvious seediness of this maneuver, it runs roughshod over state property laws, and the rights of investors, homeowners and borrowers. It amounts to a permanent installation of a Federal system that supersedes the county records for recording property rights. Off-record comments I’ve heard from people in power are outraged at this assault on states’ rights. But these people are not legislators, who are getting promises larger than anything in your imagination, if they will support such a bill. It might be couched as a uniform law to be adopted by the states to get around the states rights issues, but it will permanently remove some of the power over property that lies solely within the jurisdiction of the states and place it preemptively within federal jurisdiction.

All of this is scheduled to happen during the lame duck session of congress between now and the end of the this year, 2010. That means in a manner of days, some bill that may look like it has nothing to do with property, mortgages or foreclosures is going to have attached to it a provision whose effect will go even further than the notarization bill that went through Congress like S–t through a goose and almost got signed by the President. We caught that one AFTER it was passed by Congress unanimously but before Obama signed it.

We announced it as an attempt at a presidential pardon to all those who committed crimes in the notarization of documents that were fabricated and forged, all those who committed forgery and perjury and all those who created counterfeit documentation that was presented to courts as original documents.

This time we got the information, we think, before it was stitched into some innocuous looking bill. If we don’t find it and block it, the plight of homeowners will get that much worse.

http://livinglies.wordpress.com/2010/11/11/pardon-livinglies-obtains-wall-street-playbook-mers-to-be-legitimized-by-act-of-congress/

That would be an ex-post-facto law, and is explicitly barred by The Constitution.

Such a bill, were it to be promulgated, would be an act of intentional subversion of The Constitution and a violation of the oath of office of every Congressperson who votes or argues for it.

If such a law is in fact introduced it would turn the rule of law on its ear and make clear that we now live in a nation where literal theft will be made legal retroactively by the Congress and President in an explicit form and with the impact of literally stealing millions of privately-held homes.

[Demeter]

9. Tax System Favors Wealth Over Work

http://www.truth-out.org/tax-system-favors-wealth-over-work64768

Tea Partiers rage against taxes and say they’re too high. Wrong, says billionaire Warren Buffett: on the rich, they’re too low.

The tax code holds the answer to this standoff, and the code backs Buffett. Taxes may be the bane of the Tea Party, but they’re a relative boon for the wealthy. Let’s look at some of the ways America’s tax system keeps Warren Buffett’s fortune in Warren Buffet’s hands.

The major vehicle is George W. Bush’s 15 percent levy on long-term capital gains - the lowest since FDR’s first term - and on corporate dividends. The top 1 percent of US households owns nearly 40 percent of all privately held stock, from which the dividends flow. Similarly, the super-rich get more than half their income from capital gains, as documented by tax expert David Cay Johnston in his book “Perfectly Legal.” In the meantime, for the working middle-class, the tax rate on wages is 25 percent.

Taxing income from wealth at little more than half the rate of income from work: it’s the perfect recipe to make sure that Warren Buffett (and all the Buffett wannabes) pay effective tax rates far below what their incomes suggest....

[ozymandius]

12. Indeed, it is barred by our Constitution.

This makes me wonder if the strict constructionists on the SCOTUS would see this the same way. Ex post facto laws are explicitly forbidden in Article 1, Section 9 of the Consitution.

[Tansy_Gold]

16. So what? Do you really think that would stop them?

:rofl:

[hamerfan]

17. I used to live in Missouri

Their state constitution bars ex post facto laws as well. It hasn't stopped the state government from enacting them. Face it. If the government wants it, some words on a piece of paper will not trump the almighty dollar. Sad, but true....

[florida08]

41. and courts are upholding MERS

legal interest as the mortgagee giving them the right to foreclose..but there's one law professor of Utah who says to do so is legally incoherent. He states it usurps local governments authority to retain records on property ownership...not to mention it allows banks to skirt recording fees that would go to them. California is one such state.


http://www.zerohedge.com/article/lawsuit-alleges-mers-owes-california-potential-60-120-billion-unpaid-land-recording-fees



Part of the homeowner's payment goes to the investors who acquire these securitized loans.

[Tansy_Gold]

42. Eventually, I'm sure, there will be a lawsuit that will take it all

the way to the SCOTUS and then we'll get the ruling. Because MERS involves interstate commerce (in the lower-case sense) no individual state will be able to have complete jurisdiction, so it will have to go to the federal courts.

And this is what some of us have been saying all along.

The debt in the mortgage still exists. It was made in (reasonably) good faith by both parties, or at least in as good of faith as required by the legal entities. IF the disappearance of the actual physical paperwork voids the debt, that's one thing, but it's probably no longer as cut and dried as it used to be. We've got too much electronic stuff going on, everything from online gambling to HFT (okay, same difference), in our entire financial system to simply say that electronics don't apply to home mortgages. It's gonna have to be determined in the courts.

So whether MERS is sufficient or if the states/counties are gonna sue to make sure the ownership records for property tax purposes are involved, who knows? :shrug:

The worst case scenario, of course, is that the "owners" (banks) not only get "clear" title but avoid paying property taxes, too, thus further hurting the states and counties. We'll see how that plays out.


FRSPs anyone?


TG, NTY

[florida08]

43. Going to SCOTUS

is not exactly comforting at this juncture. What MERS did under no authority of it's own was to usurp states rights for deed recording within their own state. If congress/corporate Obama quickly pass legislation to give MERS legitmacy all this magically goes away since no crime has been deemed committed by the courts. States will lose the filing fee revenue which in some cases is billions.



Property taxes is a different animal.

[Tansy_Gold]

44. Under the Roberts court, no it's far from comforting

But I still think that's where it will end up. Either MERS and the banks will take it there, or the states will. That's the only way to get it resolved, for good or ill.


I suppose the states could require MERS to make the recordings, and charge MERS the fees, with failure to do so being grounds to void the debt. IOW, if MERS claims "ownership" of the debt, then it has to produce the documents in its name or forfeit payment. Again, someone can challenge this and take it to court and it's gonna go to SCOTUS. (They may refuse to hear it, in which case it will be decided by some lower federal court, but it's gonna end up in some federal jurisdiction because the states can't work it out.)


But what do I know? :shrug:


TG, NTY

[florida08]

46. mercy

sounds like this will be a mess. I don't think states will just acquiesce regardless of this retroactive legislation. Feels like a merry go round. Just chaps my fanny that MERS being a product of SHELL will get away with this. Will be interesting to watch. Seems more corruption gets slipped through the quack session than prior to it. You take care of yourself and have a good weekend.

You know plenty Tansy lol.

[fasttense]

28. Thanks for posting this Demeter.

It was a real lesson to read.

Matt Taibbi's final words describing America:

"When you meet people who are losing their homes in this foreclosure crisis, they almost all have the same look of deep shame and anguish. Nowhere else on the planet is it such a crime to be down on your luck, even if you were put there by some of the world's richest banks, which continue to rake in record profits purely because they got a big fat handout from the government. That's why one banker CEO after another keeps going on TV to explain that despite their own deceptive loans and fraudulent paperwork, the real problem is these deadbeat homeowners who won't pay their fucking bills. And that's why most people in this country are so ready to buy that explanation. Because in America, it's far more shameful to owe money than it is to steal it."

[Demeter]

29. You Are Welcome

Is it not a bizarre twist of fate that Rolling Stone has superseded the Washington Post as an instrument of 4th Estate check and balance on the government?

Don't know where my grammar has gone today--can't type in English!

[54anickel]

34. Excellent article...n/t

[StarburstClock]

39. "our entire financial system is corrupted to its core"

I've been telling people that for years but very few ever listen, they prefer the sanctity of their own mis-beliefs until something horrible happens to them. At that point they even get resentful towards me and others who warned them for not warning them enough. Most Americans have a serious learning problem, fueled by decades of propaganda from every walk of life that tells them it's OK to be a morally corrupt liar when it comes to money. It leads up to what we have today, a torturer on a book tour, a government that won't hold anyone accountable for vast criminal conspiracies and a continually growing crime wave of "too big to fail" corporations.

The current version of capitalism failed and now it's a propped up shell of criminals perpetuating myths. Too bad most people don't believe it.

[DemReadingDU]

47. Corruption is the system

By the time most people understand this, it will be too late.

[ozymandius]

10. Bruce Krasting: Perfect Storm – February 2013?

Presented here is a very good read that examines the targets of the Cat Food Commission's recommendations. First in line to become a casualty are the 60 million people who rely on Social Security just to stay above the poverty line. These people also vote in huge numbers. So pressing forth with the CFC plans will guarantee a dazzling fireworks show as politicians grasp that "third rail of American politics" with both hands and their tongue.

Here's an excerpt:

Next week there will be a great debate on what to do with the Bush tax cuts. Actually I don’t expect much debate at all. Our legislators hate to raise taxes and I don’t think they have the guts to do it now. They will point to the big unemployment numbers and pass the tax trash for 24 months. They will defer the hard choices on income taxes and the critical AMT.

Then there is good old Ben Bernanke. As of now his plan is to finish QE-2 next June. QE-1-Lite (the top up) will, in theory, be an evergreen program. But after 24 months the MBS portfolio will have been substantially reduced and the monthly prepays and related POMO Treasury buys will be significantly less than we are getting today. I think there is no stomach in America for a QE-3. The global (and now domestic) hostility to this crazy experiment makes the possibility of a 3pete decidedly slim.

So mark your calendars. Sometime early in 2013 we will self immolate as all of the promised steps of belt tightening, budget cuts, smaller government, smaller social payouts hit. At the same time taxes will be going up for every single wage earner regardless of what they make. High earners will get butchered. To top it off Big Ben will have to be throwing out a hefty sized anchor at pretty much the same time. The markets will surely see it coming.

As you read his list of forces that will rise in anger, opposed to any cuts, guess who is going to be heard most loudly.

Source: Naked Capitalism

[Tansy_Gold]

18. They don't care.

No one will rise up in anger except the rich.

The poor will die, and they will die poor.

The American public has been innoculated against violent rebellion. When American blacks have done it, they have been put down with force. American poor whites have been brainwashed against blacks, against violence. They have Jesus instead.

The discussion around DU last night -- and I only saw small bits of it here and there -- throwing Jon Stewart under the bus was ample evidence. I watched part of the Maddow/Stewart interview, and I thought he was making perfect sense. The media, he said, has pitted R against D, when the real battle should be between the corrupt and the non-corrupt. By splitting everything R and D, the corrupt can safely remain in charge on both sides.

And since the corrupt are in charge on both sides of that debate, there is no way to appeal to reason, or to anything even remotely resembling a sense of decency. The monumental lack of a sense of decency precludes any appeal to reason.

THEY

DON'T

CARE.




Tansy Gold

[DemReadingDU]

19. It should be corrupt vs non-corrupt

or the banks vs the people, or the uber-wealthy vs everyone else.

What is going on today is not a Dem vs Rep anymore. But that is what the media keeps splitting us politically.

I also saw parts of the Maddow/Stewart interview, and appreciated their insight.

[Loge23]

22. Chicken, eggs, and other thoughts

I wonder sometimes what came first: Was it the people that ceded the ideal of government for and by the people; or was it an effective put down by controlling interests?
Certainly the reaction to minority uprisings have been, perhaps, indelibly imprinted upon the brains of Americans - many of whom willingly sponsored this reaction. When those in power discovered the pot-o-gold in governing - and the apparent disinterest of the people in recognizing this fact - the die was cast. The rich are different - they may be smarter! They don't have to rise up in anger; they simply "hire" the poor and disenfranchised to do that for them. Enter the Tea Party. The cockeyed optimist inside me swears that none of the lunacy would continue if the left would only counter with an equally visible presence as the baggers (yes, it is meant to be condescending). What keeps us Underground? Was the rock rolled over the cave opening by us, or did "they" put it there?
We have been bemoaning the fact that our primary news source is delivered by comedians for some time now. Now we have a post-McLuhanesque discussion between a left-leaning comedian and a left-leaning journalist as to whose more credible! Incredible!
The lively debate between Rachel & Mr. Stewart last night appeared to me as a was kind of post-mortem wrap-up - not too different than two forensic physicians trying to determine whether the deceased died of natural causes or was murdered.
Either way, the cave's getting crowded.

[Demeter]

27. Responsible people don't sacrifice everything for "politics"

They have jobs, children, mortgages, and that's their first priority.

Tea Party seems to have enough free time and money (no doubt thanks to Medicare and Social Security) to while away the hours doing silly things. This is their way of "socializing". It's a hobby, a distraction from a meaningless, futile life. Take my fundie aunt, please! Retired, estranged from her family, widowed, looking for a way to feel alive and human and useful and "good" and "righteous", however misguided she may be as to the way she does it. Fundies have no ego boundaries to tell when they've overstepped their personal authority and responsibility to muck about in someone else's life...because "God" gives you permission to "save" people from their misguided, evil ways...no matter how unconstitutional and unchristian and unwelcome and just plain wrong it is to do so.

We on the Left have relatively few who have sacrificed daily life for their cause: Cindy Sheehan comes to mind. Her world exploded, and instead of rebuilding, she took to the warpath--literally. Ralph Nader is another--compelled by some inner need to eschew the trappings of everyday existence and tilt at windmills.

Justice and change can not be done as a hobby, though. Sure, you can garden organically, insulate the bejesus out of your house, buy a PV system and a composting toilet, but to change the world takes dedication. So we vote, but voting is no longer responding to our directives.

The Left doesn't have that network of insane wealthy, their charities and PACS and think tanks. We Lefties don't have the media anymore, either. The Corporate Right has bought it. We don't have the courts, same story. The courts have been suborned.

The tighter the noose, the hotter the water in the frog pot, the bigger the unemployment, foreclosure, bankruptcy numbers, the closer we get to having a whole lot of people with nothing left to lose and a hot revolution.

You would think the Economic Elite had learned a little about history. What do they think trumps pure animal rage: nuking the peasants? They lost most of South America because of their unceasing greed. They lose this country, their arsenal and mercenary army, and what's going to protect them from China and India?

[AnneD]

45. Demeter....

good in site. My Mom is, I think, a tea bagger.

She use to have a real life, but since she retire 30 years ago she is focused on Fox and basically is like your aunt but not yet estranged from the family. I debate with her so there are some things I have gotten her to rethink. If she were out in the real world, she would be a crusader like I am. Despite my problems, I know I have had the better life. She has basically lost 30 years of her life that she cannot get back.

When I do hit the rocking chair, I know that I had real purpose in my life. I marched, I protested, I saved lives, helped people, saw the world, raised a decent human being, made friends and tried to keep my family together. Now if I did this when I didn't have time as a single working mom, imagine what I will do when I have time in retirement.

I told a State House Rep several months ago that I was getting ready to retire soon. If he thought I was persistent now...just wait til I retired, because I would be in their faces every time they convened the legislature. He laughed but he knows I'm serious.

There is not much I can do to prevent stupid people from hurting themselves. And if the baggers are smart, they will eventually come to see that and then that is when the real revolution will start. But sadly, I don't see many smart ones out there at the moment.

I may end up taking care of Mom once her funds are cut off because of the government she voted in to power. But then, that is the way I was made. And thank God there some folks that are made that way-otherwise we would be putting the elderly on an ice flow or making them leave the tepee in the dead of winter or killing the young in lean times.

Responsible people sacrifice for the future-irresponsible people sacrifice the future for immediate gain.

[florida08]

52. Have to give this 5 stars before the day ends

Have read it 5 times throughout the course of the day.

[Hugin]

30. I prefer to think of it as a "Tub".

Coined by that ancient comedian... Diogenes.

http://www.brainyquote.com/quotes/authors/d/diogenes.html

Hugin rolling his Tub through on a daily visit to the SMW.

[Demeter]

31. Tub?

In what context, Hugin?

[Hugin]

32. Instead of all being piled into a cave.

Tubs are portable caves.

[Demeter]

26. You got more out of that interview than I did

and your analysis makes perfect sense.

It's all about the coverup. And making cover so that the crime spree can continue. We are freaking doomed.

[AnneD]

36. "The American public has been inoculated against violent rebellion".....

I come from a different line.

The Indian Wars lasted 50 years and had the repeating revolver not been invented-America might have been 1/2-3/4 ths its current size. It was the fierceness of the Comanche and Apache that prevented the Mexican Colonization of the Southwest.

When I was growing up some of the real old timers would talk of their youth and their parents having to deal with the 'Indian Problem'. In fact the October full moon was known in these parts as the Comanche Moon, as they migrated through here on their way to their winter grounds. Farmers and Ranchers would leave their isolated homes for a few days when a raiding party was in the area.

Of course my folks were 'civilized' Indians. We chose to fight the US in the Supreme Court and scalp folks at the casinos. :evilgrin:

[Demeter]

11. Is Your Bank Spying on You?

Banks and credit agencies are becoming ever more intrusive in their efforts to gauge exactly what you're worth, and what you can pay...To that end, financial firms are now tracking their customers' bank deposits, rent payments or home values, and even utility bills to figure out who may soon become a financial risk, reports WSJ's Karen Blumenthal.

So, for example, if your employer pays you through direct deposits and those deposits stop, financial institutions can now have warning that your money situation is likely to tighten, and may deny you credit on that basis...But the efforts don't end there. A new area of research, income estimation, "took off earlier this year," WSJ reports, and involves financial firms collecting information about mortgages, personal loans and credit history to determine how much an individual makes and how much credit they should be given.

In this new era of deep data-mining, even your utility bills and rent check aren't out of bounds.

An estimated 40 million consumers, including young people and people who prefer to pay in cash, have too little credit experience to generate a useful credit score. But they are likely to pay rent or utility bills, which could help credit bureaus better assess their credit-worthiness.

Experian, one of the three major credit bureaus, bought RentBureau—which collects rental-payment data from large property managers—and expects to integrate that information into credit records before the end of the year...Credit bureaus say they also would like to offer data on cellphone payments, but have run into concerns over privacy issues, which may require legislation to untangle....


Meanwhile, a federal class action lawsuit alleges that numerous media companies, including Fox News and CNN, received detailed personal information on millions of cellphone users from an advertising company that circumvented security measures on their phones....

[54anickel]

35. Linky??? I'd love to read the rest....

[some guy]

37. link

http://www.alternet.org/story/148765/is_your_bank_spying_on_you/

it looks like the same story, to me anyway.

[Demeter]

50. Thanks, Guy!

That's the one.

[Demeter]

48. Oooops

The Kid is feeling much better and talking my ear off, and Sis is calling to strategize about Dad, and I lost rack of what I was doing....

I need a life, instead of a rolling emergency.

[ozymandius]

13. Gotta run...

:donut: :donut: :donut: I hope your Friday is easy. :hi:

[Festivito]

14. Debt: 11/09/2010 13,727,147,399,038.59 (UP 1,980,639,855.13) (Tue)

(Down a little. Good day.)
Guys, don't create hospital emergencies and forget to tell me.
(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)
= 9,135,403,570,564.55 + 4,591,743,828,474.04
DOWN 5,858,868.46 + UP 1,986,498,723.59

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 311-Million person America.
If every American, man, woman and child puts in $3.22 THAT'S 1B$, and $3,218.88 makes 1T$.
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 310,666,592 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 $44,186.11.
A family of three owes $132,558.32. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 22 reports in the last 30 to 32 days.
The average for the last 22 reports is 5,140,677,651.08.
The average for the last 30 days would be 3,769,830,277.46.
The average for the last 32 days would be 3,534,215,885.12.
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$/day.
There were 28 reports in 40 days of FY2011 averaging 5.91B$ per report, 4.14B$/day.
Above line should be okay

PROJECTION:
There are 803 days remaining in this Obama 1st term.
By that time the debt could be between 14.8 and 17.9T$.
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)
11/09/2010 13,727,147,399,038.59 BHO (UP 3,100,270,350,125.51 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 +0,165,524,368,146.80 ------------* * * * BHO
Endof11 +15,072,620,499,842.50 ------------| | | | | | | | | | | | | | | per 1B Too much to predict at this time.

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
10/20/2010 +001,330,613,152.94 ------------*********
10/21/2010 -003,241,964,507.19 --
10/22/2010 -000,039,023,333.21 ----
10/25/2010 +000,057,456,608.35 ------------******* Mon
10/26/2010 +000,564,111,327.93 ------------********
10/27/2010 +000,111,394,550.30 ------------********
10/28/2010 -000,237,760,056.32 ---
10/29/2010 +010,778,095,157.00 ------------**********
11/01/2010 +063,143,305,537.83 ------------********** Mon
11/02/2010 +000,562,237,098.37 ------------********
11/03/2010 -000,042,244,820.71 ----
11/04/2010 +002,136,844,217.63 ------------*********
11/05/2010 -000,209,791,147.70 ---
11/08/2010 -000,059,969,255.93 ---- Mon
11/09/2010 -000,005,858,868.46 -----

74,847,445,660.83 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=4608780&mesg_id=4608798

[Festivito]

53. Debt: 11/10/2010 13,719,547,683,746.49 (DOWN 7,599,715,292.10) (Wed)

(Up some. Good day.)
Curtis not at the bar, missed him again.
(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)
= 9,136,758,086,733.07 + 4,582,789,597,013.42
UP 1,354,516,168.52 + DOWN 8,954,231,460.62

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 311-Million person America.
If every American, man, woman and child puts in $3.22 THAT'S 1B$, and $3,218.81 makes 1T$.
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 310,673,792 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 $44,160.62.
A family of three owes $132,481.86. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 23 reports in the last 30 to 33 days.
The average for the last 23 reports is 4,586,747,523.12.
The average for the last 30 days would be 3,516,506,434.39.
The average for the last 33 days would be 3,196,824,031.26.
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$/day.
There were 29 reports in 41 days of FY2011 averaging 5.45B$ per report, 3.85B$/day.
Above line should be okay

PROJECTION:
There are 802 days remaining in this Obama 1st term.
By that time the debt could be between 14.8 and 17.9T$.
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)
11/10/2010 13,719,547,683,746.49 BHO (UP 3,092,670,634,833.41 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 +0,157,924,652,854.70 ------------* * * BHO
Endof11 +14,704,995,609,602.40 ------------| | | | | | | | | | | | | | per 1B Too much to predict at this time.

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
10/21/2010 -003,241,964,507.19 --
10/22/2010 -000,039,023,333.21 ----
10/25/2010 +000,057,456,608.35 ------------******* Mon
10/26/2010 +000,564,111,327.93 ------------********
10/27/2010 +000,111,394,550.30 ------------********
10/28/2010 -000,237,760,056.32 ---
10/29/2010 +010,778,095,157.00 ------------**********
11/01/2010 +063,143,305,537.83 ------------********** Mon
11/02/2010 +000,562,237,098.37 ------------********
11/03/2010 -000,042,244,820.71 ----
11/04/2010 +002,136,844,217.63 ------------*********
11/05/2010 -000,209,791,147.70 ---
11/08/2010 -000,059,969,255.93 ---- Mon
11/09/2010 -000,005,858,868.46 -----
11/10/2010 +001,354,516,168.52 ------------*********

74,871,348,676.41 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=4612098&mesg_id=4612126

[xchrom]

21. recommend

[Demeter]

24. How To Spot A Company About To Default Again

http://www.forbes.com/2010/11/11/companies-intelligent-investing-serial-default.html?partner=yahoofpapp

...when it comes to defaulting companies, there are some common warning signs that can prevent investors and lenders alike from looking foolish. A recent study by Standard & Poor's looked at the 99 companies that have defaulted more than once in the past 28 years and found that serial defaulters had some important things in common.

"We would not characterize as young, inexperienced firms," notes the report. Nor were serial defaulters congregated in a specific company size or region. Instead, the common factors related to multiple defaults were found to be aggressiveness, industry and exposure.

One of the main contributing factors to a company's susceptibility to a second or third default is the aggressiveness with which the organization approaches financial policies. Companies with eyes bigger than their stomachs--particularly during the leveraged buyout frenzies of the 1980s and early 2000s--were more likely to find themselves overleveraged after undertaking multiple acquisitions...

[DemReadingDU]

49. "Hi mom! Having a really great time! This is swell!!"

http://www.chrismartenson.com/martensoninsider/commodities-stocks-and-bonds-slammed

[Tansy_Gold]

51. Are those American flag pins on their lapels?

Don't answer. I really don't want to know.




TG, NTY

[sarcasmo]

54. Will crude be over 90 by Xmas?