STOCK MARKET WATCH, Friday January 16

[ozymandius]

Source: du

STOCK MARKET WATCH, Friday January 16, 2009

DAYS REMAINING UNTIL BUSH IS GONE = 3.5

AT THE CLOSING BELL WHEN BUSH TOOK OFFICE on January 22, 2001
Dow - 10,578.24
Nasdaq - 2,757.91
S&P 500 - 1,342.90
Oil - $27.69/bbl
Gold - $266.70/oz.
$1 USD = EUR 1.06678
$1 USD = JPY 116.6200

In recognition of those who predicted the Dow's precipitous return on Bush values (9/29/08): JuneBourder and AnneD

AT THE CLOSING BELL ON January 15, 2009

Dow... 8,212.49 +12.35 (+0.15%)
Nasdaq... 1,511.84 +22.20 (+1.49%)
S&P 500... 843.74 +1.12 (+0.13%)
Gold future... 807.30 -1.50 (-0.19%)
30-Year Bond 2.86% -0.03 (-1.07%)
10-Yr Bond... 2.20% -0.01 (-0.54%)

---

U.S. FUTURES & MARKETS INDICATORS
NASDAQ FUTURES..............................................S&P FUTURES

Market Conditions During Trading Hours

GOLD,EURO, YEN, Loonie and Silver

---

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---

Read more: du

[ozymandius]

1. Market WrapUp

A Bottom and a Top
And Guidelines to Confirm Whether this is True
BY MARTIN GOLDBERG, CMT

The overpriced bond bubble is about to pop and may have already seen its 27 year top. From a trading perspective, a clear and defined risk to reward ratio can be applied to this supposition in clear technical terms. In addition, following a "60 Minutes" report on the price of oil and a swoon in the oil market this week, the multi-month low in oil may have already occurred. With the last couple of weeks showing the re-occurance of "deleveraging days," oil is close to its late December bottom. A good risk to reward exists for those who think oil has seen its bottom in late December.


.....

Long Term Bonds in the Long Term

Last month I made a case for the long term bond market making a long term top. In the short term, following a parabolic move in the direction of a 27 year trend, the bond market was in the midst of a swoon in the first few days of '08 and this was accompanied by a Barron's cover story alleging a bubble in the Treasury market. As shown by the 20+ year ETF chart for TLT, the proposed top in the bond market occurred when the ETF reached $122.74 in late December. After the early '09 selloff accompanied by the Barron's story, the return of de-leveraging days in the financial markets brought the ETF back to its current levels above $116 a share. The current technical condition suggests bond bears wait for the trend to turn downward on decreasing momentum to the upside before entering a bearish position. This analysis would be refuted if the ETF were to close at new highs.

http://www.financialsense.com/Market/wrapup.htm

[ozymandius]

2. Today's Reports

08:30 Core CPI Dec
Briefing.com 0.0%
Consensus 0.1%
Prior 0.0%

08:30 CPI Dec
Briefing.com -1.0%
Consensus -1.0%
Prior -1.7%

09:15 Capacity Utilization Dec
Briefing.com 74.6%
Consensus 74.7%
Prior 75.4%

09:15 Industrial Production Dec
Briefing.com -1.0%
Consensus -0.8%
Prior -0.6%

09:55 Mich Sentiment-Prel Jan
Briefing.com 61.0
Consensus 60.0
Prior 60.1

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

[UpInArms]

30. U.S. Dec. CPI falls 0.7% vs Nov's -1.7%

03. U.S. Dec. CPI falls 0.7% vs. -0.8% expected
8:30 AM ET, Jan 16, 2009

04. U.S. Dec. core CPI flat as expected
8:30 AM ET, Jan 16, 2009

05. U.S. CPI up 0.1% in 2008, smallest gain in 54 years
8:30 AM ET, Jan 16, 2009

06. U.S. Dec. core CPI up 1.8% in past year
8:30 AM ET, Jan 16, 2009

07. U.S. Dec. CPI energy prices fall 8.3%
8:30 AM ET, Jan 16, 2009

08. U.S. Dec. CPI homeowner prices up 0.1%
8:30 AM ET, Jan 16, 2009

09. U.S. Dec. CPI food prices fall 0.1%
8:30 AM ET, Jan 16, 2009

[UpInArms]

90. No signs yet of a way out of U.S. recession -ECRI

http://www.reuters.com/article/economicNews/idUSNYS00471820090116

NEW YORK, Jan 16 (Reuters) - A measure of future economic growth in the United States fell while its annualized growth rate inched up in the latest week, but both still signal that the way out of the recession is not in sight, a research group said on Friday.

The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index fell in the week ending Jan 9 to 108.6 from 109.3 in the previous week, initially reported as 109.4.

The index's annualized growth rate ticked up to negative 25.5 percent from negative 26.9 percent, revised from minus 26.8 percent. It marked its highest reading since the week to Oct. 24, 2008, when it was minus 22.8 percent.

"Despite some recent stabilization the WLI remains in a clear cyclical downswing, indicating that an economic recovery is not on the horizon," said Lakshman Achuthan, managing director at ECRI in an instant message interview.

...more...

[UpInArms]

91. UMich surveys crack smokers - consumer sentiment rises to 61.9 in January

30. UMichigan consumer sentiment rises to 61.9 in January
10:01 AM ET, Jan 16, 2009

[Hugin]

96. I saw and rejected #30 as fantasy earlier.

That would be a leap of what... Like 40%. Highly unlikely.

[UpInArms]

92. U.S. Sept. capacity utilization lowest since Dec. '01

42. U.S. Sept. capacity utilization lowest since Dec. '01
9:15 AM ET, Jan 16, 2009

43. U.S. industrial production down 1.8% in 2008
9:15 AM ET, Jan 16, 2009

44. U.S. Q4 industrial production down 11.5%
9:15 AM ET, Jan 16, 2009

45. U.S. Nov. industrial production down rev 1.3% vs down 0.6% p
9:15 AM ET, Jan 16, 2009

46. U.S. Dec. capacity utilization 73.6% vs 75.2% in Nov
9:15 AM ET, Jan 16, 2009

47. U.S. Dec. industrial production down 2.0% vs down 1.2% est.
9:15 AM ET, Jan 16, 2009

[ozymandius]

3. Oil languishes near $35 on weak US economy

SINGAPORE – Oil prices languished near $35 a barrel Friday in Asia as traders eyed a weakening U.S. economy and falling global demand that's sent crude down a third since last week.

Light, sweet crude for February delivery was down 5 cents at $35.35 a barrel by late afternoon in Singapore in electronic trading on the New York Mercantile Exchange. The contract fell $1.88 overnight to settle at $35.40, after trading as low as $33.20, a five-year low.

Oil prices have fallen about 30 percent since touching $50.47 a barrel last week as dismal economic and corporate results stoked investor fears that a drop-off in crude demand may be worse than expected.

....

In other Nymex trading, gasoline futures fell 1.08 cents to $1.16 a gallon. Heating oil slid 0.66 cent to $1.48 a gallon while natural gas for February delivery rose 5.5 cents to $4.90 per 1,000 cubic feet.

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

[ozymandius]

7. World Oil Demand Set for First 2-Year Drop Since 1983, IEA Says

Jan. 16 (Bloomberg) -- Global oil demand will fall for a second year, the first back-to-back contraction since 1983, as a deepening recession erodes consumer spending, the International Energy Agency said.

The adviser to 28 nations cut its 2009 forecast by 1 million barrels a day on expectations the International Monetary Fund will lower its economic growth outlook. The IEA estimates consumption will shrink 0.6 percent to 85.3 million barrels a day. Forecasters including OPEC, JPMorgan Chase & Co. and Deutsche Bank AG already said demand will fall this year.

....

Oil prices have plunged more than $100 a barrel from a record in July as the U.S., Europe and Japan face their first simultaneous recession since World War II. The IEA cut its assumptions for 2009 global economic growth in half to 1.2 percent.

Forecast demand in the industrialized countries of the Organization for Economic Cooperation and Development was cut by 530,000 barrels a day to 46.3 million barrels a day. Demand in developing countries, while revised down 480,000 barrels a day, will still expand 1.8 percent to 38.9 million barrels a day, the IEA said.

http://www.bloomberg.com/apps/news?pid=20601087&sid=a7poUB4Uhy5g&refer=home

[ozymandius]

4. World stocks gain as US bails out Bank of America

HONG KONG – Asian stock markets rebounded Friday from the previous day's rout, with Tokyo's index gaining nearly 3 percent, as the U.S. bailed out Bank of America again and a weaker yen lifted exporters like Toyota Motor Corp. Major European markets opened higher.

....

In Japan, the Nikkei 225 stock average added 206.84 points, or 2.6 percent, to 8,230.15 as automakers and other exporters gained. Toyota, which said Thursday it was making further production cuts in North America, jumped 6 percent, and Honda Motor Co. vaulted 8 percent. Electronics maker Nikon rose 6.7 percent.

Hong Kong's Hang Seng edged higher 12.55 points, or 0.1 percent, to 13,255.51 and in mainland China, the Shanghai Composite Index climbed 1.8 percent. Benchmarks in South Korea, Singapore, Australia, Taiwan and India also advanced.

As European trading opened, the Britain's FTSE 100 rose 2.1 percent, Germany's DAX added 2.6 percent and France's CAC-40 was 2.7 percent higher. U.S. stock futures advanced, pointing to a stronger open on Wall Street. Dow futures rose 118 points, or 1.5 percent, to 8,280 and S&P500 futures climbed 13.30 points, or 1.6 percent, to 852.60.

Early Friday in the U.S., Bank of America and the Treasury Department reached an agreement for an additional $20 billion in fresh capital from the federal government's emergency rescue fund, plus guarantees against losses on up to $118 billion in troubled assets. The bank was to use the aid to help it absorb losses from its acquisition of faltering investment bank Merrill Lynch.

http://news.yahoo.com/s/ap/20090116/ap_on_bi_ge/world_markets

---

Money for nothing. Can I see a show of hands who now wants to bail out BoA after they burn through this capital? Anyone? Anyone?

[ozymandius]

5. Bank of America gets aid for Merrill deal

WASHINGTON (Reuters) – Bank of America Corp will receive $20 billion in fresh government cash and a federal backstop against $118 billion of bad assets to help the bank absorb Merrill Lynch & Co, U.S. officials said on Friday.

As part of the emergency plan announced by the Treasury Department, the U.S. Federal Reserve and Federal Deposit Insurance Corp, Treasury will provide the largest U.S. bank by assets with $20 billion in fresh capital from a government bailout fund in exchange for preferred stock.

The government also agreed to share in losses on the troubled assets, which Bank of America took on when it paid an estimated $19.4 billion for Merrill on Jan 1.

http://news.yahoo.com/s/nm/20090116/bs_nm/us_bankofamerica_bailout

[ozymandius]

6. Here's the press release from the Fed.

Treasury, Federal Reserve, and the FDIC Provide Assistance to Bank of America

The U.S. government entered into an agreement today with Bank of America to provide a package of guarantees, liquidity access, and capital as part of its commitment to support financial market stability.

Treasury and the Federal Deposit Insurance Corporation will provide protection against the possibility of unusually large losses on an asset pool of approximately $118 billion of loans, securities backed by residential and commercial real estate loans, and other such assets, all of which have been marked to current market value. The large majority of these assets were assumed by Bank of America as a result of its acquisition of Merrill Lynch. The assets will remain on Bank of America's balance sheet. As a fee for this arrangement, Bank of America will issue preferred shares to the Treasury and FDIC. In addition and if necessary, the Federal Reserve stands ready to backstop residual risk in the asset pool through a non-recourse loan.

In addition, Treasury will invest $20 billion in Bank of America from the Troubled Asset Relief Program in exchange for preferred stock with an 8 percent dividend to the Treasury. Bank of America will comply with enhanced executive compensation restrictions and implement a mortgage loan modification program.

Treasury exercised this funding authority under the Emergency Economic Stabilization Act's Troubled Asset Relief Program (TARP). The investment was made under the Targeted Investment Program. The objective of this program is to foster financial market stability and thereby to strengthen the economy and protect American jobs, savings, and retirement security.

Separately, the FDIC board announced that it will soon propose rule changes to its Temporary Liquidity Guarantee Program to extend the maturity of the guarantee from three to up to 10 years where the debt is supported by collateral and the issuance supports new consumer lending.

With these transactions, the U.S. government is taking the actions necessary to strengthen the financial system and protect U.S. taxpayers and the U.S. economy. As was stated in November when the first transaction under the Targeted Investment Program was announced, the U.S. government will continue to use all of our resources to preserve the strength of our banking institutions and promote the process of repair and recovery and to manage risks.

[Hugin]

23. Well now, isn't this the very picture of socializing risk and piratizing profit!

:eyes:

[Demeter]

29. Wonder who the connection at BOA Is?

Would it be Rubin, again?

[Hugin]

35. I think it's a dialog box popping up on their accounting software...

*ding*

"You're bankrupt. Would you like to crack a deal with the Fed? -Yes- -No-"

That's what I think.

[antigop]

59. Oh, Prag! You got me on that one. (snorts coffee) n/t

[Hugin]

70. It came to me when I was playing online Monopoly. n/t

[spotbird]

80. Cheney. nt

[Tandalayo_Scheisskopf]

84. I have a money-making idea:

Make a video of Ben Bernanke and Hank Paulson being gang-banged by a crowd of Wall Street fatcats, whereupon Paulson and Bernanke would pay the fatcats for their labors. Paulson and Bernanke would love it, the fatcats would love it, it would likely sell like hotcakes and it would have a far more measured dignity and make a lot more sense than what they have done so far.

[Hugin]

86. How would the makers of nausea remedies benefit from this plan?

Ah, well... They're already making record profits under the current plan.

[Tandalayo_Scheisskopf]

87. Personally...

I would invest in companies that make beta-blockers, if this idea ever came to fruition.

[libnnc]

103. huh, since my tax dollars are bailing them out...

think they'll cut me a break on all those freaking maintenance fees they soak me with every month?


I know the answer to that...I was just being wistful for a sec x(

[ozymandius]

8. U.S. `Bad Bank' Plan Gets Momentum to Revive Lending (Update1)

Why does this shitty idea keep coming back?

Jan. 16 (Bloomberg) -- Renewed questions about U.S. banks' viability are pushing regulators toward a new plan that would remove toxic assets from bank balance sheets, in what may become the biggest effort yet to unfreeze lending.

President-elect Barack Obama's advisers see an increasingly grave banking crisis and are considering proposals far more sweeping than any steps that have been taken so far, according to people who've discussed the outlook with them.

.....

Federal Reserve officials are focusing on the option of setting up a so-called bad bank that would acquire hundreds of billions of dollars of troubled securities now held by lenders. That may allow banks to reduce write-offs, free up capital and begin to increase lending. Paul Miller, a bank analyst at Friedman Billings Ramsey & Co. in Arlington, Virginia, estimates that financial institutions need as much as $1.2 trillion in new aid.

Other steps that may be under consideration include providing further guarantees for toxic assets that remain on the banks' books, as officials did for Citigroup Inc. in November and with a $118 billion backstop for Bank of America Corp. today, or purchasing selected investments. Federal Deposit Insurance Corp. Chairman Sheila Bair yesterday played down the alternative of nationalizing lenders.

http://www.bloomberg.com/apps/news?pid=20601087&refer=home&sid=axWuMOdo6W2k

---

This is blackmail. Banks, too big to fail, are using dumb public money to compensate for their stupidity.

[Hugin]

26. I'm pretty sure the first to float this tripe was Lehman....

A smashing success!

I'm beginning to think the 'bad bank' plan is the last resort of scoundrels.

[DemReadingDU]

55. Last resort, to get whatever remains of our tax dollars

Bailout here, Bailout there
Everywhere a bailout

When everything explodes from all those bailouts, there will be nothing left for for the American citizens, nothing for the future citizens either.
:(

[antigop]

9. Citigroup posted a loss of $8.29 billion, or $1.72 per share, for the fourth quarter.

WSJ breaking news banner -- no story yet.

[antigop]

11. Press release here....

http://www.citigroup.com/citi/press/2009/090116a.htm

[UpInArms]

37. Citigroup headcount fell by 29,000 in latest quarter

http://www.marketwatch.com/news/story/Citigroup-headcount-fell-29000-latest/story.aspx?guid=%7B9B2FF60E%2D1D42%2D4DA2%2DABAB%2D8FC7B7BC2D3A%7D

NEW YORK (MarketWatch) - Citigroup Inc (C: 3.88, -0.65, -14.3%) said Friday that its headcount fell by 29,000 from the third quarter to the fourth quarter. The company said its staffing level across the company was 323,000 at the end of the fourth quarter, down from 352,000 at the end of the third quarter. Citi's staffing if off from the historic high of 375,000 at the end at the fourth quarter of 2007. Citi Chief Executive Vikram Pandit said the company hopes to reach its target employment level of 300,000 soon. Late in 2007, the company unveiled plans to trim 50,000 jobs in fairly short order.

[Demeter]

122. And What Is the Value of a Share?

A whopping $3.50 each!

[ozymandius]

10. HSBC, UBS May Be Liable on Madoff as Fund Custodians

Jan. 15 (Bloomberg) -- HSBC Holdings Plc and UBS AG may be liable for as much as $3.2 billion of losses linked to Bernard Madoff in a dispute over the duties of financial custodians at funds in Luxembourg and Ireland.

At stake is the image of the European fund industry, French Finance Minister Christine Lagarde wrote in a Jan. 12 letter to the European Commission and Luxembourg Prime Minister Jean-Claude Juncker. European funds’ assets increased 59 percent to 6.8 trillion euros ($9 trillion) over the past six years, partly because rules protecting investors made them attractive.

....

Custodians are charged with oversight of funds, and they manage cash inflows and payments to investors. Those looking to recoup money would have to prove the banks failed to fulfill their duties, according to nine lawyers surveyed by Bloomberg News. HSBC has said it isn’t liable and UBS declined to comment on the issue.

....

If investors do pry money from the custodians, it would add to the combined $81.7 billion in writedowns and credit losses UBS and HSBC have reported since the start of the global financial crisis in 2007.

http://www.bloomberg.com/apps/news?pid=20601109&sid=aAexlRrqePZI&refer=exclusive

[ozymandius]

12. Ireland nationalizes Anglo Irish bank

From Credit Writedowns

The Irish government scrapped a planned recapitalization of Anglo Irish Bank and moved straight to full nationalization. While some may view this as a necessary move to shore up a troubled institution, I see this as ominous news because the Irish banking system is systemically weak and subject to a potential collapse along the lines of Iceland.

From Times Online

Brian Lenihan, the Finance Minister, said today in a statement that the €1.5 billion plan to recapitalise the bank announced last month will not go ahead, because the funding position of the bank had weakened and given the loan scandal that saw the bank’s top officials quit in December.

“The government has today decided, having consulted with the Board of Anglo Irish Bank Corporation, to take steps that will enable the bank to be taken into public ownership,” Mr Lenihan said.

Anglo Irish’s chairman and former chief executive officer Sean FitzPatrick resigned in mid-December after admitting he had failed to disclose an €87-million loan from the bank. Chief executive David Drum also quit.

“The funding position of the bank has weakened and unacceptable practices that took place within it have caused serious reputational damage to the bank at a time when overall market sentiment towards it was negative,” Mr Lenihan said.

“Accordingly the government believes that the recapitalisation is not now the appropriate and effective means to secure its continued viability. Therefore the government must move to the final and decisive step of public ownership,” he added.

[ozymandius]

13. The 10 most unethical people in business

SANTA MONICA, Calif. (MarketWatch) -- Ethisphere magazine has released its list of the 100 most ethical people in business. While I was intrigued by those deemed the most influential (Liu Qi, chairman of the organizing committee of the 2008 Olympics, Neelie Kroes, European commissioner for competition, and the man formerly known as Heinrich Kieber, a former computer technician for LGT bank who blew the whistle on corruption, among a hodgepodge of others), I was most interested in its list of the most unethical.

I have my own unethical list, and 50% of Ethisphere's list pretty much jibes with it (Bush administration figures litter mine). In any event, here they are, as Ethisphere defines them: "The top 10 individuals that have influenced business ethics through professional flubs."

This list of scabby warts includes:

*Bernard Madoff
*Rod Blagojevich
*Ted Stevens
*Robert Rubin

http://www.marketwatch.com/news/story/story.aspx?guid={00B76C8B-34A5-40D6-A7B2-57356C4CA987}&siteid=rss

[AnneD]

65. Morning Marketeers....

:donut:and lurkers. Ozy, I should like to add a few more........

George Will and Krauthammer Cokie Roberts and Ben Stein (pick one)-I leave off O'Reilly, Coulter et all because they aren't even close to being journalists and should not be take seriously. This is not the case with my nominees. They are regarded as heavy weights and yet they have let their personal political beliefs bleed into their reporting to the extent that they have ignored facts and went with the party line-thus failing the American people. Making good sound choices can depend on facts-and yes you sometimes have to ask and redirect your interviewee back to your question. That is called DOING YOUR JOB. Freedom of Speech is a privilege that your common man has died for. The fact that you are not doing you job is as bad as spitting on their graves and a slap in the face to journalist world wide that have risked their lives to report the truth.

Southern Senators (esp GOP) that Refused to help the U S auto industry in favor of the foreign auto manufactures. They should get a Quisling award and have their job and all benefits stripped from them. Perhaps this would 'educate' them to the ramification of their choices.

Senators and Reps that voted for the Debt Reform Act -that did nothing to help debtors and further enriched the Credit Card companies. Now...more and more folks are falling into this pit of despair. The only way they can redeem themselves is to pass a Credit Card Reform Act-and I don't mean that weak assed thing they just passed THAT WON'T GO INTO EFFECT UNTIL 2010.

Greenspan
Havard School of Business Masters program for Mission Failure: for giving George W Bush a degree only to have him bankrupt every business he has every managed.
Chicago School of Business, Wharton School of Business and others for failing to instill a sense of ethics an their graduates.

SEC committee members-for enriching themselves at the expense of the small investors and institutional investors (large numbers of small investor).

Hank Paulson-for failing to be objective, for failing to exercise even the most rudimentary over site over taxpayer money.

I have plenty more but unlike these jag offs, I have to go to work.

Happy hunting and watch out for the bears.

[Festivito]

14. Debt: 01/13/2009 10,613,904,888,048.13 (UP 4,114,207,039.69) (Mostly FICA.)

(Little movement lately, except for FICA stuff.)

= Held by the Public + Intragovernmental(FICA)
= 6,289,189,388,739.05 + 4,324,715,499,309.08
DOWN 38,769,243.84 + UP 4,152,976,283.53

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

THINKING IN BILLIONS: 3 or 4 dollars per billion in a 300-Million person America.
If every American, man, woman and child puts in $3.33 each THAT'S 1B$.
A family of three: Mom, Dad, Child: THEIR SHARE IS TEN BUCKS in 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 a 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)
(I hate those end to end dollars to the moon and back, or years to spend $100/second. Just say'n)
If you read this and have a suggestion or comment, good or bad, I'd love to see it.

ANALYSIS:
There were 21 reports in the last 30 to 32 days.
The average for the last 21 reports is 801,721,434.33.
The average for the last 30 days would be 561,205,004.03.
The average for the last 32 days would be 526,129,691.28.
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$/day.
There were 71 reports in 105 days of FY2009 averaging 8.30B$ per report, 5.61B$/day.

PROJECTION:
GWB** must relinquish the presidency in 7 days.
By that time the debt could be between 10.6 and 10.7T$.
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)
01/13/2009 10,613,904,888,048.10 GWB (UP 4,885,709,091,866.53 so far since Bush took office.)

Fiscal Year ends: Sep 30
Borrowed in FY1993: (Maybe later.)
Borrowed in FY1994: 281,261,026,873.94
Borrowed in FY1995: 281,232,990,696.07
Borrowed in FY1996: 250,828,038,426.34
Borrowed in FY1997: 188,335,072,261.61
Borrowed in FY1998: 113,046,997,500.28
Borrowed in FY1999: 130,077,892,735.81
Borrowed in FY2000: _17,907,308,253.43 Bill alone
Borrowed in FY2001: 133,285,202,313.20 Bill and George
Borrowed in FY2002: 420,772,553,397.10 All George
Borrowed in FY2003: 554,995,097,146.46
Borrowed in FY2004: 595,821,633,586.70
Borrowed in FY2005: 553,656,965,393.18
Borrowed in FY2006: 574,264,237,491.73
Borrowed in FY2007: 500,679,473,047.25
Borrowed in FY2008: 1,017,071,524,650.01
Borrowed in FY2009: 589,179,991,135.70 so far this fiscal year.

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
12/22/2008 -000,588,542,244.94 --- Mon
12/23/2008 +000,074,940,615.00 ------------*******
12/24/2008 -000,121,597,338.38 ---
12/26/2008 -036,328,594,643.92 -
12/29/2008 -000,737,189,520.41 --- Mon
12/30/2008 +000,055,730,362.68 ------------*******
12/31/2008 +046,553,280,763.13 ------------**********
01/02/2009 -049,252,670,832.20 -
01/05/2009 -000,912,747,082.07 --- Mon
01/06/2009 -000,344,326,906.71 ---
01/07/2009 -000,314,429,077.84 ---
01/08/2009 -027,599,431,464.26 -
01/09/2009 -000,568,123,287.98 ---
01/12/2009 -001,098,982,842.59 -- Mon
01/13/2009 -000,038,769,243.84 ----

-71,221,452,744.33 Total of 15 above reports.

Heavy borrowing seems to start after 09/18/2008.
US borrowed $949,273,084,789.06 in last 117 days.
That's 949B$ in 117 days.
More than any year ever, except last year, and it's 93% of that highest year ever only in 117 days.
And it is over 100% of ANY dismal Bush, for any dismal Bush-year, ONLY IN 117 DAYS NOT 365.

For a prettier and more explanatory view of our nation's debt:
http://www.brillig.com/debt_clock

(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=3689085&mesg_id=3689647

[Festivito]

131. Debt: 01/14/2009 10,605,968,804,933.43 (DOWN 7,936,083,114.70) (Mostly FICA again.)

(Little movement lately, except for FICA.)

= Held by the Public + Intragovernmental(FICA)
= 6,288,674,179,920.54 + 4,317,294,625,012.89
DOWN 515,208,818.51 + DOWN 7,420,874,296.19

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

THINKING IN BILLIONS: 3 or 4 dollars per billion in a 300-Million person America.
If every American, man, woman and child puts in $3.33 each THAT'S 1B$.
A family of three: Mom, Dad, Child: THEIR SHARE IS TEN BUCKS in 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 a 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)
(I hate those end to end dollars to the moon and back, or years to spend $100/second. Just say'n)
If you read this and have a suggestion or comment, good or bad, I'd love to see it.

ANALYSIS:
There were 22 reports in the last 30 to 33 days.
The average for the last 22 reports is 404,548,500.29.
The average for the last 30 days would be 296,668,900.21.
The average for the last 33 days would be 269,699,000.19.
There were 252 reports in 365 days of FY2007 averaging 1.99B$ per report, 1.37B$/day.
There were 253 reports in 366 days of FY2008 averaging 4.02B$ per report, 2.78B$/day.
There were 72 reports in 106 days of FY2009 averaging 8.07B$ per report, 5.48B$/day.

PROJECTION:
GWB** must relinquish the presidency in less than 6 days from the date of this report.
By that time the debt could be between 10.6 and 10.6T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/14/2009 10,605,968,804,933.40 GWB (UP 4,877,773,008,751.83 so far since Bush took office.)

Fiscal Year ends: Sep 30
Borrowed in FY1993: (Maybe later.)
Borrowed in FY1994: 281,261,026,873.94
Borrowed in FY1995: 281,232,990,696.07
Borrowed in FY1996: 250,828,038,426.34
Borrowed in FY1997: 188,335,072,261.61
Borrowed in FY1998: 113,046,997,500.28
Borrowed in FY1999: 130,077,892,735.81
Borrowed in FY2000: _17,907,308,253.43 Bill alone
Borrowed in FY2001: 133,285,202,313.20 Bill and George
Borrowed in FY2002: 420,772,553,397.10 All George
Borrowed in FY2003: 554,995,097,146.46
Borrowed in FY2004: 595,821,633,586.70
Borrowed in FY2005: 553,656,965,393.18
Borrowed in FY2006: 574,264,237,491.73
Borrowed in FY2007: 500,679,473,047.25
Borrowed in FY2008: 1,017,071,524,650.01
Borrowed in FY2009: 581,243,908,021.00 so far this fiscal year.

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
12/23/2008 +000,074,940,615.00 ------------*******
12/24/2008 -000,121,597,338.38 ---
12/26/2008 -036,328,594,643.92 -
12/29/2008 -000,737,189,520.41 --- Mon
12/30/2008 +000,055,730,362.68 ------------*******
12/31/2008 +046,553,280,763.13 ------------**********
01/02/2009 -049,252,670,832.20 -
01/05/2009 -000,912,747,082.07 --- Mon
01/06/2009 -000,344,326,906.71 ---
01/07/2009 -000,314,429,077.84 ---
01/08/2009 -027,599,431,464.26 -
01/09/2009 -000,568,123,287.98 ---
01/12/2009 -001,098,982,842.59 -- Mon
01/13/2009 -000,038,769,243.84 ----
01/14/2009 -000,515,208,818.51 ---

-71,148,119,317.90 Total of 15 above reports.

Heavy borrowing seems to start after 09/18/2008.
US borrowed $941,337,001,674.36 in last 118 days.
That's 941B$ in 118 days.
More than any year ever, except last year, and it's 93% of that highest year ever only in 118 days.
And it is over 100% of ANY dismal Bush, for any dismal Bush-year, ONLY IN 118 DAYS NOT 365.

For a prettier and more explanatory view of our nation's debt:
http://www.brillig.com/debt_clock

(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=3693002&mesg_id=3693039

[Festivito]

132. Debt: 01/15/2009 10,627,708,753,691.49 (UP 21,739,948,758.06) (Debt worse.)

(Finally a Friday dump of 20-billion more borrowing. Still looks like Bush will be shy of becoming the 5T$ man. He could be the 4.9T$ president, presiding over a 6.9T$ debacle. 11.8T$ of trouble.)

= Held by the Public + Intragovernmental(FICA)
= 6,309,144,617,619.47 + 4,318,564,136,072.02
UP 20,470,437,698.93 + UP 1,269,511,059.13

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

THINKING IN BILLIONS: 3 or 4 dollars per billion in a 300-Million person America.
If every American, man, woman and child puts in $3.33 each THAT'S 1B$.
A family of three: Mom, Dad, Child: THEIR SHARE IS TEN BUCKS in 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 a 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)
(I hate those end to end dollars to the moon and back, or years to spend $100/second. Just say'n)
If you read this and have a suggestion or comment, good or bad, I'd love to see it.

ANALYSIS:
There were 22 reports in the last 30 to 31 days.
The average for the last 22 reports is -1,267,852,653.17.
The average for the last 30 days would be -929,758,612.32.
The average for the last 31 days would be -899,766,399.02.
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$/day.
There were 73 reports in 107 days of FY2009 averaging 8.26B$ per report, 5.64B$/day.

PROJECTION:
GWB** must relinquish the presidency in less than 5 days from the date of this report.
By that time the debt could be between 10.6 and 10.7T$.
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)
01/15/2009 10,627,708,753,691.40 GWB (UP 4,899,512,957,509.83 so far since Bush took office.)

Fiscal Year ends: Sep 30
Borrowed in FY1993: (Maybe later.)
Borrowed in FY1994: 281,261,026,873.94
Borrowed in FY1995: 281,232,990,696.07
Borrowed in FY1996: 250,828,038,426.34
Borrowed in FY1997: 188,335,072,261.61
Borrowed in FY1998: 113,046,997,500.28
Borrowed in FY1999: 130,077,892,735.81
Borrowed in FY2000: _17,907,308,253.43 Bill alone
Borrowed in FY2001: 133,285,202,313.20 Bill and George
Borrowed in FY2002: 420,772,553,397.10 All George
Borrowed in FY2003: 554,995,097,146.46
Borrowed in FY2004: 595,821,633,586.70
Borrowed in FY2005: 553,656,965,393.18
Borrowed in FY2006: 574,264,237,491.73
Borrowed in FY2007: 500,679,473,047.25
Borrowed in FY2008: 1,017,071,524,650.01
Borrowed in FY2009: 602,983,856,779.00 so far this fiscal year.

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
12/24/2008 -000,121,597,338.38 ---
12/26/2008 -036,328,594,643.92 -
12/29/2008 -000,737,189,520.41 --- Mon
12/30/2008 +000,055,730,362.68 ------------*******
12/31/2008 +046,553,280,763.13 ------------**********
01/02/2009 -049,252,670,832.20 -
01/05/2009 -000,912,747,082.07 --- Mon
01/06/2009 -000,344,326,906.71 ---
01/07/2009 -000,314,429,077.84 ---
01/08/2009 -027,599,431,464.26 -
01/09/2009 -000,568,123,287.98 ---
01/12/2009 -001,098,982,842.59 -- Mon
01/13/2009 -000,038,769,243.84 ----
01/14/2009 -000,515,208,818.51 ---
01/15/2009 +020,470,437,698.93 ------------**********

-50,752,622,233.97 Total of 15 above reports.

Heavy borrowing seems to start after 09/18/2008.
US borrowed $963,076,950,432.42 in last 119 days.
That's 963B$ in 119 days.
More than any year ever, except last year, and it's 95% of that highest year ever only in 119 days.
And it is over 100% of ANY dismal Bush, for any dismal Bush-year, ONLY IN 119 DAYS NOT 365.

For a prettier and more explanatory view of our nation's debt:
http://www.brillig.com/debt_clock

(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=3693002&mesg_id=3694561

[Tansy_Gold]

15. Are we down to less than

100 hours yet?

[tclambert]

16. 4 days is 96 hours. 3 days is 72 hours.

As I write this, it is still just over 100 hours away. 100 hours plus about 40 minutes.

[tclambert]

17. My time was 7:19 AM as I posted that.

I'm in the same time zone as DC. Arizona is 3 hours behind us. Noon in DC will be 9 AM your time.

[Tansy_Gold]

18. Thanks. I was wondering because I was trying to calculate it

last night while BF was blathering about football and I *thought* the <100 would be sometime this morning. Then I saw the opening page with 3.5 days and I thought Huh? Did I miscalculate?

Okay, 6:00 A.M. Arizona time takes us to 100 hours.

:whew:



Tansy Gold, trying to concentrate on paying work and not succeeding :-(

[Dr.Phool]

20. 8:00am EST will be 100 hours. About 5 minutes from now.

I was thinking last night, what does he still have left to fuck up?

[Wednesdays]

22. I downloaded a countdown clock just for this purpose

http://www.download.com/Count-Down/3000-2350_4-10415914.html

[Hugin]

21. Pool Entries as of the Morning of 1/16/2009 -Last entry day-

Leaving you with approximately 10 hours to get your entry in, Tansy_Gold. :)

The Pool calls for your prediction on:

Where the Dow will be on Bush's last day and minute, 1/20/09, at 11:59am.

Note: Friday 1/16/2009 by the Market Close 16:00 ET is the deadline for submitting your target number.

Entries:

Ozymandius - 8,016.73
radfringe - 8,243.74
Prag - Up-side: 8,837.94, Down-side: 8,158.10
KoKo01 - Up-side: 9,000.00, Down-side: 8,100.00
Ghost Dog - 7,970.00
AnneD - Up-side: 8,395.00 or a sigh of relief Down-side of 7,890.00 (Finally heard from Jimmy.)
MsLeopard - 7,777.77 (Casino Style.)
CatholicEdHead - 7,863.56
DemReadingDU - 8,080.80 (A nice round number.)
UpInArms - 7,578.24 (Wants that in Trillions.)
TalkingDog - 7,500.00
PassingFair - 7,500.00 (Could have a tie here!)
natrat - 6,248.00 (Whoa, a new Cassandra!)
spinbaby - 7,992.44
DanaM - 8,999.99
spotbird - 8,516.00, 8,580.00 or there abouts.
GliderGuider - 7,650.00
Birthmark - 7,600.00
RetailSlave - 8,888.88
Gentle Giant - 8,317.69 (A little B-day magic.)
Wednesdays - 7,850.00
Tansy_Gold - 8,248.24
InkAddict - 8,474.00

Last day... Get your entries in!

[Wednesdays]

24. Put me down for 7,850

Thanks! :hi:

[Hugin]

25. Added!

:hi:

(BRB my 'puter is demanding to be restarted... Something to do with updates. It's
very insistent about it.)

[Tansy_Gold]

27. Put me down for

8248.24

[Hugin]

31. ...

About time! :lol:

:hi:

[Tansy_Gold]

81. Well, I had to think about it for a while (she whines).

Normally I'd have gone with one of my "lucky" 4-digit numbers, but they're all way too low -- 4779 is the highest of them, I think. I figured it would drop a bit over the week-end and then get a little bit of a boost in the waning hours of The Terror.

We'll see.



Tansy Gold, who is never in a hurry to gamble even when the stakes are. . .. nil

[InkAddict]

36. Put me in for 8474.00

A little piece of our own Oceans 13, yeah baby--it's a racket with no prizes for any of us regular folks.

[Hugin]

38. Done.

Pretty well sums it up.

Except that we may get our Country back.

[Roland99]

50. Put me down for, oh, 8,944.

[Hugin]

51. Sure thing Roland99.

:thumbsup:

[Roland99]

61. Errr...oops... 8,449.

Excuse my frozen fingers this morning :-)

[Hugin]

54. Pool Entries at 10:00 EST.

The Pool calls for your prediction on:

Where the Dow will be on Bush's last day and minute, 1/20/09, at 11:59am.

Note: Friday 1/16/2009 by the Market Close 16:00 ET is the deadline for submitting your target number.

Entries:

Ozymandius - 8,016.73
radfringe - 8,243.74
Prag - Up-side: 8,837.94, Down-side: 8,158.10
KoKo01 - Up-side: 9,000.00, Down-side: 8,100.00
Ghost Dog - 7,970.00
AnneD - Up-side: 8,395.00 or a sigh of relief Down-side of 7,890.00 (Finally heard from Jimmy.)
MsLeopard - 7,777.77 (Casino Style.)
CatholicEdHead - 7,863.56
DemReadingDU - 8,080.80 (A nice round number.)
UpInArms - 7,578.24 (Wants that in Trillions.)
TalkingDog - 7,500.00
PassingFair - 7,500.00 (Could have a tie here!)
natrat - 6,248.00 (Whoa, a new Cassandra!)
spinbaby - 7,992.44
DanaM - 8,999.99
spotbird - 8,516.00, 8,580.00 or there abouts.
GliderGuider - 7,650.00
Birthmark - 7,600.00
RetailSlave - 8,888.88
Gentle Giant - 8,317.69 (A little B-day magic.)
Wednesdays - 7,850.00
Tansy_Gold - 8248.24
InkAddict - 8,474.00
Roland99 - 8,449.00
dumpbush - 7,997.55

Last day... Get your entries in! There's some names missing here... DEMETER!

[Karenina]

82. I'll take 8192.68, Prag!

:hi:

[hamerfan]

63. My pool prediction for 1/20/09

Please enter me, Prag :hi:

Put me down for 7997.55

Thank you!
dumpbush

[Hugin]

69. Added.

You're welcome... Fitting username too. :thumbsup:

[Hugin]

83. Pool Entries at 12:45 EST. (No Demeter, yet)

The Pool calls for your prediction on:

Where the Dow will be on Bush's last day and minute, 1/20/09, at 11:59am.

Note: Friday 1/16/2009 by the Market Close 16:00 ET is the deadline for submitting your target number.

Entries:

Ozymandius - 8,016.73
radfringe - 8,243.74
Prag - Up-side: 8,837.94, Down-side: 8,158.10
KoKo01 - Up-side: 9,000.00, Down-side: 8,100.00
Ghost Dog - 7,970.00
AnneD - Up-side: 8,395.00 or a sigh of relief Down-side of 7,890.00 (Finally heard from Jimmy.)
MsLeopard - 7,777.77 (Casino Style.)
CatholicEdHead - 7,863.56
DemReadingDU - 8,080.80 (A nice round number.)
UpInArms - 7,578.24 (Wants that in Trillions.)
TalkingDog - 7,500.00
PassingFair - 7,500.00 (Could have a tie here!)
natrat - 6,248.00 (Whoa, a new Cassandra!)
spinbaby - 7,992.44
DanaM - 8,999.99
spotbird - 8,516.00, 8,580.00 or there abouts.
GliderGuider - 7,650.00
Birthmark - 7,600.00
RetailSlave - 8,888.88 (Another round number.)
Gentle Giant - 8,317.69 (A little B-day magic.)
Wednesdays - 7,850.00
Tansy_Gold - 8248.24
InkAddict - 8,474.00
Roland99 - 8,449.00
dumpbush - 7,997.55
Karenina - 8,192.68

Last day... Get your entries in!

[bain_sidhe]

107. 7979.79

At the risk of repeating myself... :D

[Hugin]

110. Pool Entries at 15:30 EST (Someone else may have to pick up the flag for closing)

I'm having some connectivity problems here... Or as was once said, "What we have here
is a failure to communicate."

The Pool calls for your prediction on:

Where the Dow will be on Bush's last day and minute, 1/20/09, at 11:59am.

Note: Friday 1/16/2009 by the Market Close 16:00 ET is the deadline for submitting your target number.

Entries:

Ozymandius - 8,016.73
radfringe - 8,243.74
Prag - Up-side: 8,837.94, Down-side: 8,158.10
KoKo01 - Up-side: 9,000.00, Down-side: 8,100.00
Ghost Dog - 7,970.00
AnneD - Up-side: 8,395.00 or a sigh of relief Down-side of 7,890.00 (Finally heard from Jimmy.)
MsLeopard - 7,777.77 (Casino Style.)
CatholicEdHead - 7,863.56
DemReadingDU - 8,080.80 (A nice round number.)
UpInArms - 7,578.24 (Wants that in Trillions.)
TalkingDog - 7,500.00
PassingFair - 7,500.00 (Could have a tie here!)
natrat - 6,248.00 (Whoa, a new Cassandra!)
spinbaby - 7,992.44
DanaM - 8,999.99
spotbird - 8,516.00, 8,580.00 or there abouts.
GliderGuider - 7,650.00
Birthmark - 7,600.00
RetailSlave - 8,888.88 (Another round number.)
Gentle Giant - 8,317.69 (A little B-day magic.)
Wednesdays - 7,850.00
Tansy_Gold - 8248.24
InkAddict - 8,474.00
Roland99 - 8,449.00
dumpbush - 7,997.55
Karenina - 8,192.68
bain_sidhe - 7,979.79 (A little redundant)

Last day... Get your entries in! ONLY A HALF HOUR LEFT!1!!(one)iiiI!

[lumberjack_jeff]

111. 8417.00 n/t

[Hugin]

113. Ding! Ding! Ding! The pool is closed. Good luck to all who entered!

(Nice last minute move there lumberjack_jeff. :lol: )

The Pool calls for your prediction on:

Where the Dow will be on Bush's last day and minute, 1/20/09, at 11:59am.

Note: Friday 1/16/2009 by the Market Close 16:00 ET is the deadline for submitting your target number.

Entries:

Ozymandius - 8,016.73
radfringe - 8,243.74
Prag - Up-side: 8,837.94, Down-side: 8,158.10
KoKo01 - Up-side: 9,000.00, Down-side: 8,100.00
Ghost Dog - 7,970.00
AnneD - Up-side: 8,395.00 or a sigh of relief Down-side of 7,890.00 (Finally heard from Jimmy.)
MsLeopard - 7,777.77 (Casino Style.)
CatholicEdHead - 7,863.56
DemReadingDU - 8,080.80 (A nice round number.)
UpInArms - 7,578.24 (Wants that in Trillions.)
TalkingDog - 7,500.00
PassingFair - 7,500.00 (Could have a tie here!)
natrat - 6,248.00 (Whoa, a new Cassandra!)
spinbaby - 7,992.44
DanaM - 8,999.99
spotbird - 8,516.00, 8,580.00 or there abouts.
GliderGuider - 7,650.00
Birthmark - 7,600.00
RetailSlave - 8,888.88 (Another round number.)
Gentle Giant - 8,317.69 (A little B-day magic.)
Wednesdays - 7,850.00
Tansy_Gold - 8248.24
InkAddict - 8,474.00
Roland99 - 8,449.00
dumpbush - 7,997.55
Karenina - 8,192.68
bain_sidhe - 7,979.79
lumberjack_jeff - 8,417.00

Final standings. Please, let me know of any editorial changes or if I've overlooked anyone.

[Hugin]

114. I shall now proceed to do some ciphering, figuring, and cogitating on the entries...

We'll see if there's anything to this collective conventinal wisdom stuff.

Who knows maybe someone in this crew is a Psychoic.

I'll post the results of my puttering on Tuesday morning.

[tclambert]

129. Darn, I missed the deadline. Had to work.

I would have predicted a little "good riddance" bump. Maybe get it up to 8350. Shoot! I love predicting stuff, too, non-psychically yet more accurate than any psychic EVER.

[Hugin]

130. Shh... I may be able to slip you in.

There's a loophole.

Keep it on the QT, eh? ;)

[willing dwarf]

19. Just wondering

I'm curious to see how you'll change this page when our new president is in office. I've been slowly coming to understand how the stock market works thanks to you. I appreciate your work in keeping us focussed on getting past W's reign of error.

[Demeter]

28. Alas! would That We Could Change the World As Easily As Changing The Format of a Page!

But to do that, one would have to be a Bush, with money and power and rich and powerful friends and blackmail material.

On the other hand, schools are closed due to the weather, finally. I haven't sent my kid for the past two days anyway.

[Dr.Phool]

32. Awww, quit complainin'. I was just outside and it was wonderful.

A nice chilly 50 degrees.

But, a friend called me from Cleveland about an hour ago. Said it was 12 fucking below.

[UpInArms]

34. better here today - only zero - yesterday was 20 below

and bitcherly cold

[Demeter]

41. Yesterday I Wore 4 Layers

Never done that before. It worked, though. I was amazed I could move at all, though.

[UpInArms]

45. I still don't understand

how the body can function in such cold

:brr:

:hug:

[Demeter]

46. I'm a Stubborn Pollack

Too stupid to die.

[DemReadingDU]

52. I wear a hat too

with my 4 layers
:)

[Hugin]

60. It gives me a chance to wear my scarves.

I have several for all occasions!

Years ago my Mom made me some with zipper pockets in them... Not that I'd know what
to store in a scarf... Sunglasses?

[DemReadingDU]

62. Ipod

:)

[Hugin]

71. I suppose it could be used for a cellphone too.

Mom was truly ahead of her time.

:)

[mrdmk]

115. Ahh, gee gals and guys

I was doing some picture taking Wednesday and Thursday out at the Salton Sea, CA. It was between 73 to 80 degrees Fahrenheit throughout the day.

Today in Fallbrook, CA it is a pleasant 77 degrees Fahrenheit with the windows open airing the place out. I feel for you people.

[Tansy_Gold]

119. ditto in

Apache Junction, AZ

And you won't hear me complain when it hits 118 this summer, either.



Tansy Gold, who spent enough years in Chicago and NE Indiana to understand what those folks are going through

[AnneD]

116. Chapstick.....

don't forget that. I recieved a request form my 8 year old niece to knit a muffler with pockets for her this year. It was easy and very useful for her. She keeps her Barbies, glasses, and mittens and thinks her Aunt Anne is the coolest aunt in the world.

[Demeter]

121. I Only Had 3 Layers and a Scarf on My Head

[UpInArms]

33. dollar watch

http://quotes.ino.com/chart/?s=NYBOT_DX&v=i

Last trade 83.817 Change -0.694 (-0.89%)

Euro Forecast Unclear Following European Central Bank Rate Decision

http://www.dailyfx.com/story/topheadline/Euro_Forecast_Unclear_on_Indecisive_1232032159793.html





EURUSD – Our forex positioning-based forecast for the Euro/US Dollar is currently unclear, as trading crowds are very near neutral in their bias towards the currency pair. The ratio of long to short positions in the EUR/USD stands at a modest -1.06 as only 51% of traders are short. Yesterday, the ratio was at 1.17 as 54% of open positions were long. The marginal shift comes from the fact that short positions are 22.9 percent higher than yesterday, but overall sentiment is roughly unchanged on the week. The SSI is a contrarian indicator and the net-short trader bias signals gains are likely, but we have little confidence in this forecast. Our sentiment-based forex trading signals are accordingly flat the Euro/US dollar through current price action.

...more...

Russian Ruble Slides to Pre-1998 Crisis Low; Forint, Zloty Sink

http://www.bloomberg.com/apps/news?pid=20601087&sid=aSSY.Y0ATT04&refer=home

Jan. 15 (Bloomberg) -- Russia’s ruble tumbled to a record low against the dollar after the central bank accelerated its devaluation of the currency in an effort to stem the drain on foreign-exchange reserves.

The currency dropped to as low as 32.4668 per dollar, the weakest since Russia redenominated the ruble at the start of 1998, before the government’s default in August that year. The trading band versus the dollar-euro basket was widened for the fourth time in five days, a Bank Rossii official said. The ruble has lost 27 percent against the dollar since August.

“Russian policy makers have realized they can’t fight this and that’s why we’re seeing this increase in the pace of devaluation,” said Peter Rosenstreich, chief market analyst at Geneva-based currency-trading firm ACM Advanced Currency Markets. “The staggered devaluation will continue as it’s the only way to relieve pressure on reserves depletion.”

Prime Minister Vladimir Putin pledged last month to avoid “sharp” swings in the ruble after slumps of as much as 27 percent in a day in 1998 fueled the financial crisis. The ruble led currency declines in Poland, Hungary and across eastern Europe as a ninth day of gas restrictions to industry exacerbated concern of a recession.

Russia’s energy-led economy is slowing after a 64 percent drop in the price of Urals crude, the country’s main export oil blend, since August to $43.47. Russia cut its average oil forecast for this year to $40 a barrel, from a previous $50, Vedomosti newspaper in Moscow reported, citing government officials. That’s below the $70 average the finance ministry says is needed to balance this year’s budget.

...more...

[Hugin]

39. Toyota, Honda Widen Production Cuts as Outlook Dims (Update1) via Bloomberg

By Makiko Kitamura and Alan Ohnsman

Jan. 16 (Bloomberg) -- Toyota Motor Corp. and Honda Motor co., Japan’s biggest automakers, widened production cuts amid forecasts that U.S. auto sales may hit a 27-year low this year.

Honda trimmed its domestic production plan by a further 56,000 vehicles to 1.17 million vehicles in the year ending March. Its larger rival is paring output through April 3 at U.S. and Canadian plants.

Fuji Heavy Industries Ltd., the maker of Subaru cars, and motorcycle maker Yamaha Motor Co. also announced production cuts today, as the global recession causes vehicle sales to tumble. Sales in the U.S., the world’s largest auto market, may drop to 10.5 million this year, General Motors Corp. said yesterday.

“This year is going to be worse than the last,” said Tatsuya Mizuno, director at Fitch Ratings in Tokyo. “There’s a need to adjust production levels after a period of aggressive expansion.”

Honda said today it will fire all of its 3,100 temporary workers in Japan in April. Production will be suspended for 35 days in April and May at its Swindon, England, plant, the company said. That’s in addition to a 29-day stoppage in February and March.

Toyota plans to eliminate 5,000 temporary workers in Japan and the U.S. as it braces for its first operating loss in 71 years.

http://www.bloomberg.com/apps/news?pid=20601101&sid=a8ZzJwc0mMrU&refer=japan

[DemReadingDU]

40. Mike Larson: Three More Financial Black Holes

1/16/09 The more black holes D.C. fills, the more open up by Mike Larson

Black Hole #1 —
Federal Home Loan Banks following Fannie, Freddie, private banks over a cliff?

Unless you follow the banking industry closely, you probably haven’t heard of the Federal Home Loan Banks. But the FHLBs are vitally important as a source of funding for U.S. banks both large and small. There are 12 of them spread around the country — in Atlanta, Boston, Chicago, Cincinnati, Dallas, Des Moines, Indianapolis, New York, Pittsburgh, San Francisco, Seattle, and Topeka.
more...

Black Hole #2—
Insurance industry’s capital and surplus cushions are eroding fast …

It’s not just the banks that are in trouble. The insurance industry is taking a pounding, too. Losses on residential mortgage securities, commercial real estate investments, and other holdings are hammering capital levels throughout the sector.
The insurers are also getting hit because they guaranteed minimum returns on variable annuities — and the market subsequently tanked.
more...

Black Hole #3—
Pension funding picture deteriorates dramatically …

Then there’s the dismal picture for the nation’s pension funds.
States, corporations, municipalities … they’ve all promised benefits to retirees based on assumptions about the returns for various asset classes. But those returns are being blown to smithereens, causing funding shortfalls of epic proportions.
more...

So at this point, I think it’s reasonable to ask three simple questions …

1. Can the government continue its policy of bailing out anyone and everyone?

2. Can the Fed and Treasury afford to keep filling black hole after black hole, without a heck of a lot to show for it … except more black holes? Heck, even the black holes they thought they had filled are opening up again! Just look at Bank of America. The firm got a whopping $25 BILLION in bailout money several weeks ago, and now it’s back in Washington begging for billions more!

3. At what point are policymakers just going to have to give up and let more banks fail, more companies fail, and more asset markets trade down to where they are going to go anyway, rather than waste hundreds of billions of dollars trying to retard the process?

full article...
http://www.moneyandmarkets.com/the-more-black-holes-dc-fills-the-more-open-up-3-29270

[Demeter]

42. I Really Think BOA and Citbank Should Be Shut Down

It's time to grow up and admit that some things are impossible, some problems will not go away, no matter how much money gets thrown at them, and some contracts are null and void.

This protection racket hasn't worked for anyone except the CEOs who got theirs. Borrowing money to pay dividends that weren't earned in the first place! Preposterous!

[DemReadingDU]

44. Shut down all the banks with toxic assets

Declare all the banks insolvent, shut them all down.
If a bank wants to open back up, then it must prove if it is solvent.

What do we need a bank for anyway? The more I read, the more I believe that banks, today, are only in existence to make banksters wealthy.

[antigop]

64. NPR: Why pension funds may be the next to collapse

http://www.npr.org/templates/story/story.php?storyId=99346968

2008 brought us the collapse of the housing market, the implosion of the stock market and the near collapse of the auto industry. Could 2009 bring us more of the same? Alex Cohen talks to reporter Jon Entine about why he thinks pension funds are the next domino to fall.

[antigop]

66. deleted -- posted in wrong place

[Hugin]

43. Intel shares on track to open higher after results via MarketWatch.

By Benjamin Pimentel, MarketWatch
Last update: 8:11 a.m. EST Jan. 16, 2009

NEW YORK (MarketWatch) -- Shares of Intel Corp. looked poised to open higher Friday, playing off financial results that showed the chip giant reporting a 90% drop in fourth-quarter net profit as it navigated what Chief Executive Paul Otellini said was a "dramatic" decline in sales.

The shares, part of the Dow Jones Industrial Average, moved up about 4% in premarket trading.

More... http://www.marketwatch.com/news/story/intel-shares-poised-open-higher/story.aspx?guid=%7bD083D504-CBAB-4211-A51D-23F8055DDAFE%7d&dist=msr_1&print=true&dist=printMidSection

________________________________________________________________

Okay, I really don't know what to say about this. :silly:

[Hugin]

47. Approx 09:31 EST: Aaaand they're off!

Dow 8,311.89 +99.40 (1.21%)
S&P 500 856.52 +12.78 (1.51%)
Nasdaq 1,530.39 +18.55 (1.23%)
10y bond 2.39% +0.03 (1.27%)

[kickysnana]

48. That is Norm Coleman right? (LOL) n/t

[Hugin]

49. P&G, Kraft Settle Coffee Container Suit; Terms Undisclosed: Dow-Jones Newswire via CNN.

DOW JONES NEWSWIRES

Procter & Gamble Co. (PG) reached a settlement in its 17-month suit with Kraft Foods Inc. (KFT) over patents to plastic packaging for Folgers roast and ground coffee, though the details and financial terms weren't provided.

Consumer products giant P&G sued Kraft in federal court in August 2007, alleging new packaging for Kraft's Maxwell House coffee infringed patents on P& G's Folgers containers. The lawsuit alleged Kraft's four-pound plastic container infringed P&G's patent on a package Folgers introduced in 2003.

P&G, which was seeking undisclosed damages, said when the suit was filed that the package helped grow Folgers, as plastic containers are preferred by consumers. The lawsuit also sought to stop Kraft from selling the Maxwell House package.

P&G Chief Legal Officer Steve Jemison said Friday the company "was delighted with the terms of this settlement," adding P&G "will not hesitate to do what it takes to continue to protect our intellectual property."

Separately, Kraft General Counsel Marc Firestone said the company was "pleased to settle this matter with P&G in such an efficient and pragmatic way."

P&G in November completed the sale of its Folgers Coffee business to J.M. Smucker Co. (SJM).

Kraft shares rose 1.9% premarket to $28.60, while P&G edged up 0.6% to $57.80.

-By Shirleen Dorman, Dow Jones Newswires

http://money.cnn.com/news/newsfeeds/articles/djf500/200901160912DOWJONESDJONLINE000600_FORTUNE5.htm
____________________________________________________________

Very interesting. I prefer the metal cans myself.

[Spazito]

53. I love the plastic ones which is one of the reasons I switched my coffee brand to...

Folgers. After the coffee is gone, I use the plastic containers for many things I store outside, some kids' toys, etc. The metal containers rust out whereas the plastic doesn't.

[Hugin]

56. Are the plastic jugs recyclable?

Yes, re-use is good, but, I don't quite need as many as I generate.

I only have so much money to bury in the backyard! Oh... Oops, did I say that out loud? :blush:

The plastic jugs are also good for holding house paint for touch-ups.

[Spazito]

76. Good question, I assume they are and would put them in the blue bag for recycling....

were I to want to dispose of the ones I have. LOL on the money buried in the back yard. I wish! Well, hmmm, pennies still contain copper, right? If so, maybe in 30 years, if I bury my pennies, they might appreciate to the point they are worth the same as a US penny!

[Demeter]

124. Today's Pennies Have Only a Thin Wash of Copperplate

They are base metal, like every other coin in circulation.

[Spazito]

127. Aww, crap, there goes my pension then!

:rofl:

[Wednesdays]

120. I use the 11.5 ounce coffee cans for pencil holders and such

I was wondering what brand of coffee Kraft might be selling, when I looked over to my coffee can / pencil holder, and saw "Kraft Foods" on the label. It's a Maxwell House coffee can. :)

[nc4bo]

57. Same here - I really like the plastic ones and use for all sorts of things.

The handle is really convenient too.

I did notice once they moved from metal to plastic, the amount of coffee per package also went down. x(

[hamerfan]

58. Metal cans preferred here, too!

It seems anytime I see the phrase "Preferred by consumers" I immediately translate it in my brain to "Cheaper for us, the company, to produce; damn the consumers"!

[antigop]

67. Madoff's fund may not have made a single trade

http://news.yahoo.com/s/nm/20090116/us_nm/us_madoff_trades_2

Bernie Madoff's investment fund may never have executed a single trade, industry officials say, suggesting detailed statements mailed to investors each month may have been an elaborate mirage in a $50 billion fraud.

An industry-run regulator for brokerage firms said on Thursday there was no record of Madoff's investment fund placing trades through his brokerage operation.

That means Madoff either placed trades through other brokerage firms, a move industry officials consider unlikely, or he was not executing trades at all.

"Our exams showed no evidence of trading on behalf of the investment advisor, no evidence of any customer statements being generated by the broker-dealer," said Herb Perone, spokesman for the Financial Industry Regulatory Authority.

[Hugin]

73. I guess they should stop calling it an Investment Fund then, eh?

or is this an attempt to distance the 'legitimate' funds from the Madoff scheme?

Will we ever know?

[Dr.Phool]

68. Circuit City to be liquidated. 35,000 expected to lose jobs.

So far, just a breaking news banner on MSNBC.com.

[CatholicEdHead]

75. There goes the final 9mo of my extended warrenty with them

on my Thinkpad.

[Hugin]

85. I suppose that officially makes it a 'Thunkpad'?

I only have one outstanding extended warranty at this point on my printer.

[Danascot]

128. Sounds like you're still covered

Are Circuit City's extended warranties affected by the liquidation?

* No. Circuit City Advantage Protection Plans® (extended warranties) have been backed by third-party independent companies for more than 15 years and as a result, are not impacted by Circuit City's closing.
* Currently, all Circuit City Advantage Protection Plans are fully backed by the Assurant Solutions companies. Assurant Solutions operates as Federal Warranty Service Corporation, Sureway, Inc., and United Service Protection, Inc. Assurant Solutions is part of Assurant, Inc. (NYSE: AIZ), and its extended service contacts are backed by an Assurant insurance subsidiary rated A "Excellent" by A.M. Best Co.

http://www.circuitcity.com/closed.html

[CatholicEdHead]

77. Circuit City and liquidators to sell off merchandise in remaining 567 US stores

http://www.startribune.com/business/37710469.html

Circuit City Stores Inc., the nation's second-biggest consumer electronics retailer, reached an agreement with liquidators on Friday to sell the merchandise in its 567 U.S. stores after failing to find a buyer or a refinancing deal.

The company, which employs more than 30,000 employees, said in court papers it has appointed Great American Group LLC, Hudson Capital Partners LLC, SB Capital Group LLC and Tiger Capital Group LLC as liquidators.
......
Circuit City, which said it had $3.4 billion in assets and $2.32 billion in liabilities as of Aug. 31, said in its initial filings that it planned to emerge from court protection in the first half of this year.

Under court protection, Circuit City has broken 150 leases at locations where it no longer operates stores. The company already closed 155 stores in the U.S. in November and December.

[Roland99]

79. Don't forget the domino effect.

...the commercial real estate companies that will be out on income from the leases that Circuit City will no longer be paying.

[Dr.Phool]

99. Employees are really pissed. Can't say I blame them. 60,000 jobs gone.

I just took a ride over there. I've been putting off buying a CD player for my car for almost a year. I was talking to the supervisor. He said, it's more like 60,000 jobs gone. Not the 35k they've been saying.

He told me to come back about Tuesday, and I can get that CD player a lot cheaper, and they've got a shitload of them in stock.

[Hugin]

104. Heck'uva job Home Depot guy.

What a waste.

*tsk*

[antigop]

72. Non-sequitur cartoon

[antigop]

74. Gallup poll: More than 50% of Americans say they are "struggling"

http://rawstory.com/news/2008/More_than_half_Americans_say_they_0116.html

The number of Americans who say their lives are a struggle climbed steeply last year from less than half the population to nearly six in 10 people, a vast Gallup poll showed Friday.

"In January of 2008, 49 percent of Americans were thriving, 47 percent struggling and four percent were suffering. In November and December, 38 percent were thriving, 58 percent struggling and four percent suffering," Gallup scientist Jim Harter commented on findings of the Gallup-Healthways Well-Being Index.

"The 11-point swing in struggling Americans represents more than 22 million people," Harter said on Gallup's website.

To compile the Index, Gallup surveyed at least 1,000 US adults each day last year, starting in January.

Respondents were asked to score six aspects of their lives, including how they rate their current lives and where they think they will be in five years -- the so-called life evaluation index.

[CatholicEdHead]

78. (Minneapolis) Star Tribune files for Chapter 11 bankruptcy

This came in late last night, reposting here.

http://www.startribune.com/business/37685134.html

The Star Tribune, saddled with high debt and a sharp decline in print advertising, filed a Chapter 11 bankruptcy petition Thursday night.
...

The filing, which was made with the U.S. Bankruptcy Court in the southern district of New York, had been expected for months. It follows several missed payments to the paper's lenders, and it comes less than two years after a private equity group, New York-based Avista Capital Partners, bought the paper for $530 million.

In its filing, the newspaper listed assets of $493.2 million and liabilities of $661.1 million.

Like most newspapers, the Star Tribune has experienced a sharp decline in print advertising. Its earnings before interest, taxes and debt payments were about $26 million in 2008, down from about $59 million in 2007 and $115 million in 2004.

[Hugin]

88. Approx 13:00 EST: They claw their way back after a steep plunge...

Dow 8,174.81 -37.68 (-0.46%)
S&P 500 838.88 -4.86 (-0.58%)
Nasdaq 1,504.88 -6.96 (-0.46%)
10y bond 2.30% -0.07 (-2.95%)

Somewhere in the distance a dog barks.

[UpInArms]

89. Hertz to cut more than 4,000 jobs - now that's what I call "hurts"!

http://www.reuters.com/article/ousiv/idUSN1644134220090116

DETROIT (Reuters) - Hertz Global Holdings Inc said on Friday that it would cut more than 4,000 jobs in a worldwide restructuring through the first quarter due to falling demand, and the car rental company's shares fell nearly 9 percent.

Hertz expects annualized savings of $150 million to $170 million in 2009 from the job cuts, it said. It expects to take a fourth-quarter charge of $20 million to $25 million for the cuts.

The cuts are in the car and equipment rental businesses as well as in corporate and support areas in all regions focused on positions that do not have direct contact with customers, Hertz said in a statement.

Hertz will have cut its workforce by 32 percent since August 2006 with the latest round of reductions, it said.

Hertz said it could not predict when its markets would improve. The declines pressured the volume of rentals, the pricing on rentals and the residual values of vehicles in its fleets during the fourth quarter.


...more...

[CatholicEdHead]

94. Maybe get OJ Simpson to do ads from behind bars

And spin it as a recovery measure with so many corrupt CEOs nationwide who should also be behind bars.

Edit: added YouTube videos

http://www.youtube.com/watch?v=MYU-Cgq8iUU

http://www.youtube.com/watch?v=3Y0Prm17ktc

[UpInArms]

93. Lies spew forth from Dimson's Whitehouse

06. Recovery will be 'vigorous' in 2010-2011: White House
12:00 PM ET, Jan 16, 2009

07. White House sees unemployment rate peaking at 7.7%
12:00 PM ET, Jan 16, 2009

08. Interest-sensitive sectors will rebound in '09: White House
12:00 PM ET, Jan 16, 2009

09. White House sees recovery in second-half '09
12:00 PM ET, Jan 16, 2009

10. Bush White House sees 0.6% GDP growth in '09
12:00 PM ET, Jan 16, 2009

[Hugin]

95. Please, someone do the correct thing and take the Mr. Microphone away from that guy.

Please!

I'm almost begging here.

[Wednesdays]

123. Just think...that will be about the last thing we'll hear from this administration

We've got the weekend ahead, Monday is a holiday. All that's left of the Reign of Error then will be Tuesday morning! :bounce: :party: :toast:

[Hugin]

126. No doubt!

:bounce:

:party:

:toast:

:beer:

[Ghost Dog]

97. European stocks end up; Barclays, RBS tumble

PARIS, Jan 16 (Reuters) - European shares rallied on Friday to end a seven-session losing run, led by recently-hit mining and oil shares such as Xstrata (XTA.L), capping a dismal week marked by the return of fears over the stricken banking sector.

But stocks trimmed their gains in late trading as a number of banks, including Barclays (BARC.L) and Royal Bank of Scotland (RBS.L), tumbled on fresh worries over their balance sheets.

Barclays plummeted 25 percent and Royal Bank of Scotland (RBS.L) sank 13 percent.

The FTSEurofirst 300 .FTEU3 index of top European shares ended 1 percent higher at 803.90 points. The index slid 7.3 percent on the week.

Commodity-related shares were among the biggest gainers, with Xstrata adding 6 percent, Total (TOTF.PA) rising 1.1 percent and Rio Tinto (RIO.L) advancing 7.6 percent.

...

Commerzbank (CBKG.DE) lost 7.9 percent, BNP Paribas (BNPP.PA) shed 3.2 percent and Deutsche Bank (DBKGn.DE) dropped 3.6 percent.

Irish banks also got hammered after Ireland nationalised beleaguered Anglo Irish Bank (ANGL.I) amid fears it could collapse. Allied Irish Banks (ALBK.I) dropped 25 percent and Bank of Ireland (BKIR.I) sank 17 percent.

"There will be more banks going into public ownership, that has to happen," said Gary Dugan, CIO of Merrill Lynch Wealth Management for Europe, Middle East and Africa.

...

After a brief tick up in the first few sessions of the year, the FTSEurofirst 300 is now down 3.4 percent in 2009, following a 45 percent plunge last year, hit by the global credit crisis that tipped the world economy into a sharp downturn.

The DJ Stoxx banking index .SX7P has lost 9.7 percent so far this year. It tumbled 65 percent in 2008, knocked down by the financial crisis that began with U.S. mortgage defaults in 2007 and has now plunged major economies into recession, reshaped the banking landscape and taken entire countries to the brink of bankruptcy.

Around Europe, UK's FTSE 100 index .FTSE gained 0.6 percent, Germany's DAX index .GDAXI rose 0.7 percent, and France's CAC 40 .FCHI added 0.7 percent.

On the upside, HeidelbergCement (HEIG.DE) soared 9.5 percent. Sources familiar with the matter said U.S. private equity firm TPG was considering taking a stake in the German cement maker, jointly with Goldman Sachs (GS.N).

/... http://www.reuters.com/article/marketsNews/idCALG46596420090116?rpc=44&sp=true

[uppityperson]

98. MARKET SNAPSHOT: Stocks' Turn Breaks Longest Losing Streak For Dow Since October

http://money.cnn.com/news/newsfeeds/articles/djf500/200901151636DOWJONESDJONLINE001082_FORTUNE5.htm

The stock market's late Thursday turnaround proved modest, but still enough to snap the Dow Jones Industrial Average's longest losing streak since early October in the wake of Lehman Brothers Holdings Inc.'s collapse.
(clip)
"Tomorrow is options expirations day, and also a day that is popular to bring in short positions. There has been a lot of buzz that we should get a bounce tomorrow, so technically, why not beat the Christmas rush and cover short positions today," said Hogan. ...(more)

Black is white, war is peace, etc?

[UpInArms]

100. Hanky Panky Paulson works on covering his ass and picking your pockets

23. Paulson: Understands public impatience with TARP
10:45 AM ET, Jan 16, 2009

24. Paulson: Lending naturally low given econ weakness
10:45 AM ET, Jan 16, 2009

25. Paulson: Challenges remain for financial market
10:45 AM ET, Jan 16, 2009

26. Paulson: Only made mistakes at 'edges' of crisis response
10:45 AM ET, Jan 16, 2009

27. Paulson: Defends decisions he made during financial crisis
10:45 AM ET, Jan 16, 2009

28. Most of second $350 bln must also be given to banks: Paulson
10:45 AM ET, Jan 16, 2009

[Hugin]

102. "26. Paulson: Only made mistakes at 'edges' of crisis response"

Not enough Guillotines?

[UpInArms]

101. AMD plans to reduce workforce by 1,100 positions

16. AMD plans to reduce workforce by 1,100 positions
11:59 AM ET, Jan 16, 2009

[CatholicEdHead]

108. Ouch, well AMD has to be hurting as much if not more than Intel

Which had a 90% drop in profit which I read above. PCs are expected to last as long a possible now with no turnaround anytime soon.

[UpInArms]

105. GE Capital may cut up to 11,000 jobs: report

1:37 p.m. GE Capital may cut up to 11,000 jobs: report

[Hugin]

106. Almost like 13:45 EST: A return to the null.

Dow 8,199.50 -12.99 (-0.16%)
S&P 500 841.67 -2.07 (-0.25%)
Nasdaq 1,510.64 -1.20 (-0.08%)
10y bond 2.32% -0.05 (-2.11%)

[Hugin]

109. Nearly 15:30 EST: Back to the start (and a little more)

Dow 8,290.30 +77.81 (0.95%)
S&P 500 849.19 +5.45 (0.65%)
Nasdaq 1,524.49 +12.65 (0.84%)
10y bond 2.32% -0.04 (-1.69%)

[Hugin]

112. Mickey's little hand is on the Three and his big hand is on the 55 EST; Up a mite.

Dow 8,284.65 +72.16 (0.88%)
S&P 500 850.04 +6.30 (0.75%)
Nasdaq 1,528.45 +16.61 (1.10%)
10y bond 2.32% -0.04 (-1.69%)

[ozymandius]

117. End of the last trading day of the Bush financial miracle.

:sarcasm: - of course
Dow 8,281.22 Up 68.73 (0.84%)
Nasdaq 1,529.33 Up 17.49 (1.16%)
S&P 500 850.12 Up 6.38 (0.76%)
10-Yr Bond 2.304% Up 0.103
NYSE Volume 6,891,499,500
Nasdaq Volume 2,310,738,250

4:15 pm : For the second straight session financials led the stock market lower, but then failed to fully participate in a broad-based rebound. The sector remains out of favor amid its ongoing troubles.

Shares of Bank of America (BAC 7.18, -1.14) fell to new multiyear lows after missing the consensus fourth quarter earnings estimate of $0.08 per share. The bank lost $0.48 per share, and slashed its quarterly dividend to $0.01 per share from $0.32 per share to help preserve capital.

Bank of America will receive $20 billion in additional capital from the government to aid in the Merrill Lynch acquisition. Bank of America has already received $25 billion in federal funding. The new allotment comes with a loss sharing agreement.

Citigroup (C 3.50, -0.33) lost $1.72 per share in the fourth quarter. It was expected to lose $0.41 per share. Ongoing troubles at the financial giant have prompted management to reorganize the bank into just two operating units.

Amid ongoing troubles in the financial sector, the U.S. Senate has made the second $350 billion installment of TARP funds available to the Treasury.

Financials were the only sector to finish with a loss; they closed 2.4% lower. That gave the sector a 16.5% loss for the week.

Technology, which is currently the largest sector in the S&P 500 by market weight, closed the session 1.0% higher.

After issuing its second revenue warning last week, tech giant Intel (INTC 13.74, +0.45) officially reported earnings of $0.04 per share on some $7.3 billion in sales. The results were in-line with expectations.

Biotech outfit Genentech (DNA 84.60, -0.48) disappointed investors by reporting earnings of $0.95 per share, which was $0.01 short of the $0.96 per share consensus. The company also forecast full-year earnings between $3.55 and $3.90 per share, which is shy of the $3.92 per share analysts forecast. The firm did not discuss Roche's planned acquisition.

Health care, the second largest sector in the S&P 500, closed the session 1.0% higher. It fared the better than any other sector this week, falling just 0.3%.

Heading into the long weekend, the broader market concluded the session with a 0.8% gain. It still finished the week 4.5% lower.

With earnings back in focus, the latest economic data ultimately had little to impact on trading this session, especially since the reports didn't contain any horrific surprises.

The core December CPI was unchanged, and has been net unchanged over the past four months. That indicates there is no inflation at the consumer level. Total CPI was down 0.7% as energy prices dropped for the fifth straight month.

Crude oil futures continue to encounter further selling pressure. Though they finished the session 2.8% higher at $36.40 per barrel, crude futures are down roughly 11% for the week, and down nearly 19% for the month. February crude futures contracts expire next Tuesday.

Separately, industrial production declined 2.0% in December, marking the fourth decline in the last five months. A decline of 1.0% was expected.

Meanwhile, capacity utilization slipped to 73.6% from 75.2% in November. Capacity utilization stands at the lowest levels since December 2001, underscoring weak demand in end markets. DJ30 +68.73 NASDAQ +17.49 NQ100 +1.2% R2K +0.8% SP400 +1.5% SP500 +6.38 NASDAQ Adv/Vol/Dec 1480/2.24 bln/1206 NYSE Adv/Vol/Dec 2010/1.62 bln/1036

[Danascot]

118. The end of the Bush stock market

Today marks the end of the Bush stock market.

He has presided over the evisceration of more than $4.6 trillion of U.S. stock market wealth as measured by the S&P 500.



By comparison, the S&P 500 gained more than $9 trillion in value under the eight years of Bill Clinton’s administration.



http://blogs.reuters.com/globalinvesting/2009/01/16/the-end-of-the-bush-stock-market/

[Demeter]

125. Bush Can't Even Blow a Bubble Correctly!

Appalling graphs...