STOCK MARKET WATCH, Monday September 13

[ozymandius]

Source: du

STOCK MARKET WATCH, Monday September 13, 2010

AT THE CLOSING BELL ON September 10, 2010

Dow 10,462.77 +47.53 (+0.45%)
Nasdaq 2,242.48 +6.28 (+0.28%)
S&P 500 1,109.55 +5.37 (+0.48%)
Gold future... 1,249 -4.40 (-0.35%)
10-Yr Bond... 2.80 +0.06 (+0.01%)
30-Year Bond 3.82 +0.05 (+0.01%)

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Market Conditions During Trading Hours

Euro, Yen, Loonie, Silver and Gold

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

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

14:00 Treasury Budget Aug
Briefing.com -$104.0B
Consensus -$95.0B
Prior -$103.6B

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

[ozymandius]

2. Oil jumps above $77 on US crude pipeline leak

SINGAPORE – Oil prices jumped above $77 a barrel Monday in Asia, extending gains for a second trading day after a leak forced the closure of a Chicago-area oil pipeline and disrupted supplies to U.S. Midwest refineries.

Repair crews are closing in on the source of a leak but haven't found it yet, Sam Borries, on-scene coordinator for the U.S. Environmental Protection Agency, said Sunday. The 670,000 barrel per day pipeline run by Enbridge Energy Partners carries crude from Canada to the upper Midwest, and the supply disruption has caused a sharp spike in gas prices across that region.

In other Nymex trading in October contracts, heating oil was up 1.2 cents at $2.116 a gallon and gasoline added 1.47 cents to $1.988 a gallon. Natural gas fell 3.2 cents to $3.851 per 1,000 cubic feet.

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

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Any excuse. Any excuse at all will be employed to increase prices. What's next? Spillage at filling stations?

[Demeter]

5. Gas Went Up 30 cents on Saturday

Right after the announcement that demand was so low, the refineries were going to do maintenance...I guess that's the price for maintenance.

Good morning, Ozy. I can't believe somebody beat me to first rec. I was too busy reading about Timmy's conversion to reality economics and Big Government solutions for little people.

[ozymandius]

6. I read that as well.

It is odd that Geithner would try to engender goodwill. Maybe he's concerned about keeping his job after the midterms.

Good morning. :donut: :donut: :donut:

[ozymandius]

3. Production of stimulus-aided car batteries revs up

WASHINGTON – The first wave of mass-produced advanced batteries funded by the Obama administration's economic recovery program is starting to roll off assembly lines, setting the stage for new hybrid and electric vehicles.

Fending off criticism of the $787 billion stimulus program, the administration has cited the battery industry as one of the success stories. With new facilities coming online in the Midwest, battery manufacturers for the advanced vehicles are providing a test case for the government's attempt to revive the economy.

Battery maker A123 Systems Inc. planned to open a new lithium ion battery plant Monday in Livonia, Mich. About 300 workers, many formerly laid-off auto workers, were to join Energy Secretary Steven Chu and Michigan lawmakers to promote their production of battery cells and components. The Watertown, Mass.-based company received $249 million under the stimulus program and plans to open a second facility next year in Romulus, Mich.

The Energy Department estimates that the 48 advanced battery and electric drive projects announced last year under the $2.4 billion program could lead to the production of about 75,000 batteries by next year and 500,000 batteries annually by 2014. Michigan, Indiana, Ohio and South Carolina are the states with the largest share of the projects.

http://news.yahoo.com/s/ap/20100913/ap_on_bi_ge/us_electric_cars

[tclambert]

57. A123 Systems Opens the Largest Lithium Ion Automotive Battery Manufacturing Plant in North America

LIVONIA, Mich., Sept. 13, 2010 (GLOBE NEWSWIRE) -- A123 Systems (Nasdaq:AONE - News), a developer and manufacturer of advanced Nanophosphate(TM) lithium ion batteries and systems, today announced the grand opening of the largest lithium ion automotive battery production facility in North America, based on available data. The new plant in Livonia, Mich. is expected to expand A123's manufacturing capabilities by up to 600MW hours per year when fully operational, contributing to the company's plan to expand global final cell assembly capacity to more than 760MW hours annually by the end of 2011. The opening of the Livonia factory comes just over one year after A123 was awarded a $249 million grant from the U.S. Department of Energy (DOE) as part of the American Recovery and Reinvestment Act to help the company execute its strategy to ramp up U.S. manufacturing capabilities to meet increasing, market-driven demand for its innovative technologies.

More at: http://finance.yahoo.com/news/A123-Systems-Opens-the-pz-21379154.html?x=0&.v=1

[tclambert]

58. And on this news, A123 is up over 8% today.

A rather impulsive reaction. As a shareholder, I'm not unhappy with that. As a long-term investor, I don't expect it to continue going up that fast.

[Festivito]

4. Debt: 09/09/2010 13,444,496,046,138.49 (UP 9,140,525,808.06) (Thu)

(Up some. Good day.)
Goodbye Wanda. There was never a time or event that you did not make better. Rest in peace.
(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)
= 8,942,517,856,604.11 + 4,501,978,189,534.38
UP 8,813,573,460.79 + UP 326,952,347.27

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

THINKING IN BILLIONS: Think 3 or 4 dollars per billion in a 310-Million person America.
If every American, man, woman and child puts in $3.23 THAT'S 1B$, and $3,225.27 makes 1T$.
A family of three: Mom, Dad, Child: $9.68, ABOUT TEN BUCKS for a 1B$ 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 13 seconds we net gain another American, so at the end of the workday of the report, there should be 310,051,931 people in America.
http://www.census.gov/population/www/popclockus.html ON 04/09/2010 15:49 -> 309,034,742
Currently, each of these Americans owe $43,362.08.
A family of three owes $130,086.23. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 23 reports in the last 30 to 31 days.
The average for the last 23 reports is 5,793,296,464.16.
The average for the last 30 days would be 4,441,527,289.19.
The average for the last 31 days would be 4,298,252,215.34.
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$/day.
There were 236 reports in 344 days of FY2010 averaging 6.50B$ per report, 4.46B$/day.
Above line should be okay

PROJECTION:
There are 864 days remaining in this Obama 1st term.
By that time the debt could be between 14.6 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)
09/09/2010 13,444,496,046,138.49 BHO (UP 2,817,618,997,225.41 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 +1,534,667,042,626.70 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
Endof10 +1,628,353,112,089.38 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Linear Projection

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
08/19/2010 +008,231,027,173.23 ------------*********
08/20/2010 -000,497,978,282.78 ---
08/23/2010 -000,107,792,107.60 --- Mon
08/24/2010 +000,493,029,883.18 ------------********
08/25/2010 +000,455,932,262.67 ------------********
08/26/2010 +015,329,518,146.29 ------------**********
08/27/2010 +000,056,877,341.30 ------------*******
08/30/2010 -000,093,227,691.02 ---- Mon
08/31/2010 +077,584,457,403.73 ------------**********
09/01/2010 -002,618,329,750.58 --
09/02/2010 +008,773,043,668.95 ------------*********
09/03/2010 +000,065,447,919.59 ------------*******
09/07/2010 +000,022,960,425.76 ------------******* Tue
09/08/2010 +000,399,922,819.12 ------------********
09/09/2010 +008,813,573,460.79 ------------*********

116,908,462,672.63 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=4535317&mesg_id=4535388

[Festivito]

65. Debt: 09/10/2010 13,441,762,397,157.23 (DOWN 2,733,648,981.26) (Fri)

(Down a little. Good day.)
A long day in Saginaw.
(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)
= 8,942,462,559,419.34 + 4,499,299,837,737.89
DOWN 55,297,184.77 + DOWN 2,678,351,796.49

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

THINKING IN BILLIONS: Think 3 or 4 dollars per billion in a 310-Million person America.
If every American, man, woman and child puts in $3.23 THAT'S 1B$, and $3,225.20 makes 1T$.
A family of three: Mom, Dad, Child: $9.68, ABOUT TEN BUCKS for a 1B$ 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 13 seconds we net gain another American, so at the end of the workday of the report, there should be 310,058,577 people in America.
http://www.census.gov/population/www/popclockus.html ON 04/09/2010 15:49 -> 309,034,742
Currently, each of these Americans owe $43,352.33.
A family of three owes $130,057.. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 23 reports in the last 30 to 31 days.
The average for the last 23 reports is 5,301,367,833.31.
The average for the last 30 days would be 4,064,382,005.54.
The average for the last 31 days would be 3,933,272,908.59.
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$/day.
There were 237 reports in 345 days of FY2010 averaging 6.46B$ per report, 4.44B$/day.
Above line should be okay

PROJECTION:
There are 863 days remaining in this Obama 1st term.
By that time the debt could be between 14.6 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)
09/10/2010 13,441,762,397,157.23 BHO (UP 2,814,885,348,244.15 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 +1,531,933,393,645.50 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
Endof10 +1,620,741,126,610.46 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Linear Projection

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
08/20/2010 -000,497,978,282.78 ---
08/23/2010 -000,107,792,107.60 --- Mon
08/24/2010 +000,493,029,883.18 ------------********
08/25/2010 +000,455,932,262.67 ------------********
08/26/2010 +015,329,518,146.29 ------------**********
08/27/2010 +000,056,877,341.30 ------------*******
08/30/2010 -000,093,227,691.02 ---- Mon
08/31/2010 +077,584,457,403.73 ------------**********
09/01/2010 -002,618,329,750.58 --
09/02/2010 +008,773,043,668.95 ------------*********
09/03/2010 +000,065,447,919.59 ------------*******
09/07/2010 +000,022,960,425.76 ------------******* Tue
09/08/2010 +000,399,922,819.12 ------------********
09/09/2010 +008,813,573,460.79 ------------*********
09/10/2010 -000,055,297,184.77 ----

108,622,138,314.63 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=4538062&mesg_id=4538070

[Demeter]

7. Dreamlike ascent for wind power's newest star

http://www.marketwatch.com/story/dreamlike-ascent-for-chinese-wind-power-company-2010-09-13?siteid=YAHOOB

"With 1.5 megawatt turbine technology from Germany," Han vowed at the time, "we'll produce 100 machines the first year, 300 the second year, and 500 to 600 the third year."

Few took his promise seriously. Wind energy was in its infancy in China. But the investors at that time were bullish about the long-term prospects for wind power, and Sinovel was one of the few investment opportunities in that area. Han's plan seemed a viable bet....

Sinovel factories produced the equivalent of 3,510 megawatts of installed wind power capacity last year, making it China's largest wind power equipment manufacturer and the biggest worldwide. It expects to be No. 1 globally within five years.

[Demeter]

8. Ten-Day Skid Shaves 2.5% From 10-Year Note Price

http://online.wsj.com/article/SB10001424052748703597204575483293580155822.html?mod=WSJ_myyahoo_module

As investors have piled into Treasury debt in recent months, skeptics have warned they were risking big losses if interest rates should jump higher suddenly.

In 10 short days, bond enthusiasts have gotten a nasty taste of what such a jump could feel like, with 10-year Treasury notes losing about 2.5% of their value, according to Tom di Galoma, head of fixed-income rates trading at Guggenheim Partners.

That may not seem like much—but at these low yield levels, it's essentially the equivalent of a holder's entire income for the year. It's also in contrast to a 4.5% gain in the Dow Jones Industrial Average in the same time frame.

The yield on the 10-year Treasury, which moves up as prices move down, rose to 2.795% on Friday, its highest level in more than a month. Treasurys have been coming off a frothy few months, in part because investors have modestly tempered their worries about a double-dip recession....

[ozymandius]

9. Some charts for your review:

h/t to Po_d Mainiac for bringing these to may attention.





When looking at these charts stacked in this fashion- it is really interesting to see what happens concurrently to both the trade deficits and consumer credit in January 2009.

[Demeter]

10. Bad Economy Drives Down American Arms Sales

http://www.nytimes.com/2010/09/13/world/13weapons.html

The global economic recession significantly pushed down purchases of weapons last year to the lowest level since 2005, a new government study has found.

The report to Congress concluded that the value of worldwide arms deals in 2009 was $57.5 billion, a drop of 8.5 percent from 2008.

While the United States maintained its role as the world’s leading supplier of weapons, officials nonetheless saw the value of its arms trade sharply decline in 2009. This was in contrast to 2008, when the United States increased the value of its weapons sales despite a drop in business for competitors in the global arms bazaar.

For 2009, the United States signed arms deals worth $22.6 billion — a dominating 39 percent of the worldwide market. Even so, that sales figure was down from $38.1 billion in 2008, which had been a surprising increase over the $25.7 billion in 2007 that defied sluggish economic trends...

I DON'T EXPECT PEACE TO BREAK OUT---JUST BECAUSE NOBODY CAN AFFORD TO ARM THEIR TROOPS!

[Ghost Dog]

39. Uh huh. Barack Obama to authorise record $60bn Saudi arms sale

Barack Obama is to go ahead with plans to sell Saudi Arabia advanced aircraft and other weapons worth up to $60bn (£39bn), the biggest arms deal in US history, in a strategy of shoring up Gulf Arab allies to face any military threat from Iran.

According to the Wall Street Journal, the administration is also in talks with the Saudis about possible naval and missile-defence upgrades that could be worth tens of billions of dollars more over five to 10 years.

Plans to go ahead with the package, which has been under secret negotiation since 2007, have been known for some time and have raised angry objections from Iran and to a lesser extent from Israel, an even closer US ally which is anxious to maintain its strategic edge over any potential adversary in the Middle East.

/... http://www.guardian.co.uk/world/2010/sep/13/us-saudi-arabia-arms-deal

[Demeter]

11. Obama economist: High future unemployment (GHOULSBEE)

http://www.salon.com/news/feature/2010/09/12/us_white_house_economy/index.html

The new chairman of President Barack Obama's Council of Economic Advisers says Americans can expect to see the high unemployment rate continue for some time.

Speaking on "Fox News Sunday," Austan Goolsbee said the recession that began in 2007 put the U.S. economy deep in the hole and it's going to be a long struggle to get out.

The unemployment rate is now at 9.6 percent, and Goolsbee declined to speculate what it might be at the end of the year.

But he says he doesn't think the rate will be coming down significantly anytime in the near future.

AND NO INTENTION OF DOING ANYTHING ABOUT IT, EITHER. THIS IS AN IMPROVEMENT?

[Demeter]

15. MEANWHILE: Top economist sees hope for US jobs

http://www.ft.com/cms/s/0/7e899264-be98-11df-a755-00144feab49a.html?ftcamp=rss&ftcamp=crm/email/2010913/nbe/WorldNews/product

The US jobs market is recovering well by the standards of its past two recessions despite an unemployment rate of 9.6 per cent, the top economist at the US Treasury has said in an interview with the Financial Times.

Alan Krueger, the Treasury’s chief economist, argued that both of the past two US recessions, in 1990-91 and 2001, were followed by jobless recoveries. “The jobs situation – as difficult as it is – has actually started to improve earlier than in the last two recoveries,” he said.

Mr Krueger’s comments reflect the Obama administration’s fear that, while the recovery in jobs was always likely to be slow, voters will still punish the Democrats for it in November’s midterm elections to Congress.

“We’re going to claw our way out of this – it’s not going to be a rapid turnround – and maybe we should have done more to prepare expectations. But we are headed in the right direction,” Mr Krueger said. “I think there is an element of mismatch between jobs and workers – both geographically and in terms of skills – but I don’t think that’s so severe yet.” Mr Krueger... said the main reason that businesses were not yet employing more people was that demand had not recovered sufficiently. But he did not support another fiscal stimulus package. Instead, he said the best policies were “targeted measures to spur job growth and ensure that it continues”.

[Demeter]

18. Recovery May Not Create Job Growth, IMF's Strauss-Kahn Says (PROBLEM IS WORLD-WIDE)

http://www.bloomberg.com/news/2010-09-13/global-economic-recovery-may-not-spur-job-growth-imf-s-strauss-kahn-says.html

The global economy may not generate much employment growth in coming years, with Europe most at risk of a sluggish and jobless recovery, International Monetary Fund Managing Director Dominique Strauss-Kahn said in an interview.

IMF chief economist Olivier Blanchard last week warned that joblessness in the U.S., Europe and elsewhere will likely linger for months. The Organization for Economic Cooperation and Development said policy makers may need to extend or bolster stimulus programs as growth proves slower than projected.

“The recovery is not enough, you need to have a recovery with jobs,” Strauss-Kahn told Bloomberg Television yesterday in Oslo. “The worst thing to do would be to believe that because we escaped -- at the edge of the cliff -- the big crisis that could have happened 1 1/2 years ago, we are safe. We’re not safe yet.”...The recovery is “coming not as fast and as strong as we expected, but it’s still a recovery with some uncertainties,” Strauss-Kahn said ahead of today’s joint conference with the International Labor Organization. “The question now is not only to boost growth but to boost growth in a way that will be able to create millions of jobs that we need.”

The IMF is scheduled to release its new forecast of global growth in October. Growth is strong in most Asian countries, with some expanding at rates of 6 percent to 8 percent, Strauss- Kahn said. South American economies including Peru and Chile are also expanding fast and the recovery in Africa is coming earlier than expected, he added.

[rfranklin]

25. So how can it be a "recovery?"

If the CEO of Halliburton or Exxon gets a $100 million bonus, is that a recovery? Meanwhile, millions upon millios of people have no jobs.

[Tansy_Gold]

29. "If the CEO. . . .gets a bonus," then it's a recovery. Simple as that.

The CEOs don't give a rat's ass about the millions and millions who have no jobs.

THEY DON'T CARE.




TG, NTY

[bread_and_roses]

28. A geographic and skills mismatch between jobs and workers - oh really?

More of the "retraining" Clinton offered factory workers because they're jobs were "never coming back" from the off-shoring that Clinton's own policies promoted? More "we need high skill high tech" workers" when we don't even hire all the grads now and our Corporate Masters are busily off-shoring jobs from that new high-tech economy as fast as they can? So does he mean the "geographic mismatch" between workers here and jobs in India? Or the "skills mismatch" between a college graduate and the McBurger job s/he's applying for? Or how about the geographic mismatch between workers eager for jobs in the "green economy" here and the windmill production we allowed to go to China with our tax $$?

"Mr Krueger... said the main reason that businesses were not yet employing more people was that demand had not recovered sufficiently." - and how the hell does Mr. Kruger expect demand to "recover" when people don't have jobs?

Meanwhile, those who think ahead more than the next election are wondering how increasing demand for - oh, more seafood, say - will mesh with our collapsing fish stocks and growing ocean dead zones? How will demand for more "motion-activated" artificial scent dispensers improve our lives and sustain the earth?

Meanwhile, since most of the real work that needs doing - bridges to replace, schools to repair, children to teach, the sick to tend to - is of less than no interest to our Corporate Overlords and Obama thinks it's not the job of the government to create jobs we will just sink deeper into third-worldism, even should the much-fake-kow-towing-to-so-called "Middle Class" somehow rebound.

But hey, I take it that the market is set to rise some more, despite grim economic news from the entire planet? Happy Days!

[ozymandius]

12. Basel Means Higher Capital Ratios, Time to Comply

Sept. 13 (Bloomberg) -- Regulators looking to rein in the sort of risk-taking that caused the last financial crisis reached a compromise in Switzerland yesterday that more than doubles capital requirements for the world’s banks while giving them as long as eight years to comply.

The Basel Committee on Banking Supervision will require lenders to have common equity equal to at least 7 percent of assets, weighted according to their risk, including a 2.5 percent buffer to withstand future stress. Banks that fail to meet the buffer would be unable to pay dividends, though not forced to raise cash.

The definitions of what counts as capital and how risk is assessed have also been tightened. Some banks, such as Bank of America Corp. and Citigroup Inc., will be restricted in how much cash they can return to shareholders and pay their employees in years to come. Others, like Deutsche Bank AG, have already announced plans to raise additional capital.

The committee also gave banks until the end of 2017 to comply with the tighter definitions of capital and said that a new short-term liquidity standard wouldn’t be implemented until the beginning of 2015. While a separate long-term liquidity rule has been shelved under pressure from the banking industry, the short-term rule was expected to go into effect earlier. The two liquidity rules would require banks to hold enough cash and easily cashable assets to meet liabilities.

http://noir.bloomberg.com/apps/news?pid=20601087&sid=aK0PvfACrgbE&pos=3

[Po_d Mainiac]

38. An even stronger case to move your money to a local CU

CU's must carry 10% in Tier 1 capital.

[Hawkowl]

55. Strangling any future recovery

So a bank has two options, either hold cash as reserves or use it to make loans. So this is simply an austerity measure that will result in once again denying the availability of loans to credit worthy businesses and consumers.

This is going to ensure a very, very, long depression and almost guarantees a deflationary cycle. Well, except for the rigging of the commodity markets which will see prices through the roof. Oil and gas prices continue to rise even as economic activity falls and alternative energy use increases worldwide.

Every week, the data gets more miserable, and the policy "solutions" more terrifyingly abysmal.

[Demeter]

13. Was the Great Panic of 2008 preventable? By Robert J. Samuelson

http://www.washingtonpost.com/wp-dyn/content/article/2010/09/12/AR2010091202883.html?nav=rss_opinion/columns


It's been two years since Lehman Brothers failed (Sept. 15, 2008), and we still can't conclusively answer this question: What if the government had saved Lehman? Its bankruptcy was pivotal. Until then, deteriorating housing and mortgage markets had triggered what seemed a serious -- but not unprecedented -- recession. Once Lehman failed, the economy went into a frenzied free fall. It's hard not to wonder whether some of the ensuing turmoil could have been avoided.

(IT'S HARD TO EXPLAIN HOW THE FRAUD BUBBLE LASTED AS LONG AS IT DID, IMO! IT WAS AN ACCIDENT WAITING FOR A TRIGGER. IF NOT LEHMAN'S, THEN SOMETHING ELSE. A WORLD-WIDE ENRON.)

Paulson, Bernanke and Geithner later performed commendably in preventing a wider financial collapse and restoring confidence that, arguably, averted a second Great Depression. Though their measures (TARP, government loan guarantees and Fed lending facilities) were unpopular, they ultimately calmed markets. But the lingering question is whether Paulson & Co. were cleaning up a mess they helped create. Even now, it's unclear whether Lehman lacked sufficient collateral to justify a loan. There was a "senseless panic," argues William Isaac, former head of the Federal Deposit Insurance Corp., in a book with that title.

Or perhaps not. Maybe saving Lehman would merely have postponed panic and requests for broader powers to deal with a weakening financial system. Citigroup and Bank of America, among others, needed help. The nature of crisis is that people are surprised and overwhelmed by events, and in that sense, the mistakes made in dealing with Lehman might have been unavoidable. One way or the other, the first draft of history is still being written -- and it remains very rough.

BLIND AND WISHFUL THINKING STRIKES AGAIN!

[jtuck004]

36. In answer to "How the Fraud Bubble Lasted..."

In a post here... by dixiegrrrl, she highlights a link to a Max Keiser report in which he talks about our problems being the direct result of the neo-liberal, Chicago-school economics.

He says our current system is running on fraud, and he refers to an old Woody Allen joke as to why those who could stop it are not...

"Doctor, my brother thinks he's a chicken"
"Here, give him these pills, it will take care of that"
"No, doc, you don't understand. We need the eggs".

It appears that we have a system that is so rife with fraud, and rather than face the pain of letting it all come apart and dealing with it, those in power are letting it continue, even being complicit in its facilitation, because it provides the fuel to keep it all going.

The people in the banks knew it was coming apart, but they just kept pushing things down the road, holding things off their books thanks to the Commodity Futures Modernization Act, using FDIC insured money thanks to the repeal of the last part of Glass-Steagall. Book after book makes it readily apparent that they knew that the only way to keep the house of cards they had built from collapsing was to put more cards on top of it all. They also knew it would eventually collapse, but they didn't want it to collapse on them.

I am continually astounded at the people who hate everything from community centers to immigrants, while these fools on Wall Street have been and are continuing to get away with actions that may well destroy this country. They ought to be sweeping floors in a prison, not chortling on CNBC.

Kaiser goes off at one point. "Sheep, Sheep. I'm through with them...". But is all truly lost? Is there no way to educate and raise conciousness enough that things could change? Should I figure out how to immigrate to Canada? Gotta make sure my dogs are safe...somewhere.

[ozymandius]

14. At Goldman, Partners Are Made, and Unmade

On Wall Street, becoming a partner at Goldman Sachs is considered the equivalent of winning the lottery.

What few outside Goldman know is that this ticket can also be taken away.

As many as 60 Goldman executives could be stripped of their partnerships this year to make way for new blood, people with firsthand knowledge of the process say. Inside the firm, the process is known as “de-partnering.” Goldman does not disclose who is no longer a partner, and many move on to jobs elsewhere; some stay, telling few of their fate.

Goldman typically removes 30 or so partners every two years, said those people who described the process. The number is expected to be significantly higher this year because fewer senior executives have left the firm as a sluggish economy and uncertain markets limit their opportunities elsewhere.

http://www.nytimes.com/2010/09/13/business/13partner.html?_r=1&hp

I am trying hard not to cry.

[jtuck004]

32. They can always go to work at the Treasury or the Fed,

help get rid of some more of those nasty regulations....

[mbperrin]

35. I know, I'd like to cry,

cry "hallelujah, there is some pain for a few unconscionable assholes!!!!!!"

But I was raised in much too genteel an environment to do anything like that, doncha know?

:)

[ozymandius]

16. Stocks, U.S. Futures Rally on China Output, Basel; Bonds Drop

Sept. 13 (Bloomberg) -- Stocks rose to a one-month high, emerging equities entered a bull market and bonds fell for a fourth day as a surge in China’s industrial output boosted optimism in the global recovery. Banks gained after regulators gave them as much as eight years to meet capital requirements.

The MSCI World Index jumped 0.7 percent to the highest level since Aug. 11 at 10:35 a.m. in London. Futures on the Standard & Poor’s 500 Index added 1.1 percent. The yield on the German 30-year bond climbed to 3 percent for the first time since Aug. 19. The yen weakened against 13 of its 16 most-traded peers. The cost of insuring financial-company bonds using credit-default swaps plunged to a five-week low. Oil increased for a second day and zinc advanced.

The Stoxx Europe 600 Index climbed 1 percent to its highest level in more than four months, while the MSCI Asia Pacific Index jumped 1.4 percent. Credit Agricole SA surged 6.2 percent, HSBC Holdings Plc advanced 1.5 percent and Mitsubishi UFJ Financial Group Inc. rose 2 percent. Hon Hai Precision Industry Co., the world’s largest contract maker of electronics, rallied 6.5 percent after sales increased. Rio Tinto Group led basic- resources stocks higher, rising 1.9 percent.

The MSCI Emerging Markets Index of 21 developing nations added 1.4 percent, extending gains from a May 25 low to 20 percent, the threshold for a so-called bull market. The MSCI China gauge, Taiwan’s Taiex and India’s Sensex index climbed more than 2 percent.

http://noir.bloomberg.com/apps/news?pid=20601087&sid=aGxlV1NrHBsA&pos=1

[Ghost Dog]

41. Tokyo stocks gain as economic worries ebb

Tokyo stocks rose Monday on receding worries about the global economy following the release of robust Chinese data, with bank shares ending higher after global regulators agreed on new capital rules. Extending its winning streak to three days, the 225-issue Nikkei Stock Average gained 82.65 points from Friday to 9,321.82. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 3.93 points to 837.65.

The weekend release of China’s robust economic data reinforced the recent view in the market that the state of the global economy may not be as dire as previously feared, and a softer yen against the dollar and the euro helped the overall mood, brokers said. Asian stocks performed well, with Shanghai shares up some 1% after data showed stronger-than-expected Chinese industrial production and the consumer price index that came in line with market forecasts, both for August.

/... http://www.japantoday.com/category/business/view/tokyo-stocks-gain-as-economic-worries-ebb

[Ghost Dog]

42. Sensex hits 32-month high; SBI, HDFC Bank at all-time high

MUMBAI: Indian shares raced to their highest level in 32 months on Monday, boosted by robust July factory output data and firm Asian markets. Financials led the gains, with State Bank of India, the country's largest lender, and HDFC Bank hitting all-time high as investors bet demand for loans would rise on the back of an expanding economy.

On Friday when the market was closed, data showed industrial output accelerated 13.8 percent in July on surging capital goods production, strengthening the case for monetary tightening by the central bank to tame near double-digit inflation. By 11:27 a.m., the 30-share BSE index was trading up 1.67 percent at 19,112.19, with 28 of its components gaining.

It rose to 19,116.92, its highest since January 2008. "The IIP data was the strongest trigger. I am not sure if the market can hold up. Advance tax figures around Sept. 15 should provide more cues," said R.K. Gupta, managing director of Taurus Mutual Fund. The benchmark index has gained 9.4 percent so far this year, adding to the spectacular 81 percent jump in 2009.

"It looks like a liquidity-driven rally and the market is reaching dangerous levels," Gupta said. Data from Nomura showed foreign funds pumped $502 million into Indian equities last week, and were the next preferred investment bet after Japan and Korea in the region.

/... http://economictimes.indiatimes.com/markets/stocks/market-news/Sensex-hits-32-month-high-SBI-HDFC-Bank-at-all-time-high/articleshow/6545275.cms

[Ghost Dog]

45. India 'must act to cool inflation'

India should adjust monetary policy to cool inflation after the fastest expansion of its economy in two years, Swiss & Global Asset Management has said.

Stefan Angele, head of investment management, said the Reserve Bank of India (RBI) was under increasing pressure to extend the most aggressive bout of monetary policy tightening after Q2 GDP rose 8.8 per cent compared with the same period in 2009.

“Interest rates should go up very quickly but I am not sure they will,” he said. “From an economic point of view, India is the first country which has to normalise its monetary stance as it has very strong growth. It has experienced the strongest recovery after the crisis and it certainly should raise rates as high inflation reduces the purchasing power of the poor and if nothing is done it could trigger social unrest.”

Mr Angele added inflation could overshoot in India, making it one of the worst places for fixed income investors, and recommended Turkey and Latin America instead.

/... http://www.ftadviser.com/InvestmentAdviser/Investments/Region/EmergingMarkets/India/News/article/20100913/e373b444-bbf9-11df-8f56-00144f2af8e8/India-must-act-to-cool-inflation.jsp

[Ghost Dog]

43. Turkish shares hit all-time high after reforms pass

ISTANBUL, Sept 13 (Reuters) - Turkish shares hit a fresh all-time high on Monday, rising 2.14 percent to 61,905 points after Turkey gave its support to government-backed reforms in a referendum, in a boost for the ruling AK Party.

Invetors welcomed a much higher-than-expected 'yes' vote of 58 percent as signalling a strong chance of Prime Minister Tayyip Erdogan winning an election due next year outright.

/. http://www.finanznachrichten.de/nachrichten-2010-09/17938465-refile-turkish-shares-hit-all-time-high-after-reforms-pass-020.htm

[Ghost Dog]

44. OECD sees economic expansion losing steam

AFP - The economic expansion is running out of steam or is under severe strain in much of the industrialised world, the OECD said on Monday, reporting a 0.1-point decline in its July composite index of leading indicators.

"Stronger signals that the expansion may lose momentum have emerged in Japan, the United States and Brazil," the Organisation for Economic Cooperation and Development said in its latest assessment.

In Germany and Russia, the expansion "may soon peak," while in Canada, France, Italy, Britain, China and India "there are stronger signals of a slower pace of economic growth in coming months than was anticipated in last month's" report, the OECD found.

/. http://www.france24.com/en/20100913-oecd-sees-economic-expansion-losing-steam

[Demeter]

17. Borrowing by Europe’s banks soars

European banks are borrowing at their fastest rate in almost six months and are set to continue exploiting a positive market mood

Read more >>
http://link.ft.com/r/8P1R88/D4PIQZ/MJTKN/TP7OAD/HDFETL/50/t?a1=2010&a2=9&a3=13

AND I THOUGHT BANKS WERE IN THE LENDING BUSINESS, NOT THE BORROWING SIDE!

[Demeter]

19. SEC Adds ETFs, More Stocks to Circuit-Breaking Program

http://www.securitiestechnologymonitor.com/news/sec-circuit-breaker-expansion-26066-1.html

The Securities and Exchange Commission Friday approved the expansion of its post-Flash Crash circuit breaker program to include all stocks in the Russell 1000 Index and a test group of exchange-traded funds.

The SEC also approved new rules for national exchanges and the Financial Industry Regulatory Authority to follow that clarify the process for breaking erroneous trades, in cases such as the May 6 Flash Crash, when prices fall (or rise) precipitously.

The expansion of the program is expected to take place on the New York Stock Exchange, Nasdaq Stock Market, Direct Edge and BATS exchanges next week.

The Russell 1000 is composed of stocks of corporations with great market value. The weighted average market capitalization of its members is $69.8 billion. Its 10 top holdings are Exxon Mobil, Apple, Microsoft, Proctor & Gamble, General Electric, IBM, JP Morgan Chase, Johnson & Johnson, AT&T and Chevron. The exchange-traded funds subject to the circuit breaker are widely held, including BlackRock iShares, Invesco PowerShares, State Street Global Advisor SPDR and Vanguard funds.

[Demeter]

20. European Regulators Look at Clearing House Governance, FSA Says

http://www.bloomberg.com/news/2010-09-10/european-regulators-look-at-clearing-house-governance-fsa-says.html

European regulators are devoting more attention to corporate governance at the firms that clear over-the-counter derivative and equity trades, a Financial Services Authority official said today.

With regulators pushing for greater use of clearing houses to reduce systemic financial risk, scrutiny of the firms’ processes has also increased. Banks have complained about the so-called silo model, used by clearing houses owned by exchanges such as Deutsche Boerse AG, Chicago-based CME Group Inc. and NYSE Euronext, saying they inhibit competition and don’t offer transparent pricing.

CHICAGO, AGAIN. I'M DEVELOPING A PHOBIA OVER ANYTHING THAT COMES OUT OF THE WINDY CITY.

[Demeter]

21. New year, no federal budget (AGAIN)

CONGRESS HAS ONE JOB IT MUST DO, AND YET FOR 35 YEARS, IT'S BEEN INCAPABLE OF DOING IT IN A TIMELY FASHION...

http://money.cnn.com/2010/09/12/news/economy/federal_budget/index.htm

...Given the poisonous partisanship that has dominated this mid-term election year, it's easy to wonder if they can even pass a continuing resolution. If they don't, a government shutdown is a real possibility. But Penner (a former Congressional Budget Office director who is now public policy scholar at at the Urban Institute) believes that is unlikely because it would be deeply unpopular and both parties could suffer politically.

By the same token, Penner can envision a scenario where Congress doesn't finalize a formal budget until sometime after January. If the Republicans win the majority in the House, they may be unwilling to pass anything until they take over, he said.

Why this year is different

While it's not unusual for Congress to ring in the new year budget-free, there's a somewhat new twist in the old procrastination dance this year.

That's because neither the House nor the Senate have even passed a formal budget resolution, which typically is done in the spring before the appropriations committees decide how to allocate federal funds....

[Dr.Phool]

34. Both parties would suffer politically?

GO FOR IT!!!!

Throw 'em all out!

[DemReadingDU]

48. Yeh

Let's replace them with those who represent us people, not the banks and corporations.

[Demeter]

22. 414 mutual funds have vanished in the past year

http://www.usatoday.com/money/perfi/funds/2010-09-13-funds13_ST_N.htm?POE=click-refer

Low rates and a flabby stock market have taken their toll on mutual funds: 414 funds, most of them stock funds, have disappeared in the past 12 months, Morningstar says...Investors have pulled an estimated net $51 billion from stock funds since the end of May, says the Investment Company Institute, the funds' trade group. They have put nearly $94 billion into bond funds during the same period.

...Funds can go away via merger or liquidation. When a fund is merged, its shareholders (and its record) get absorbed into the new fund. Funds get merged because of poor performance or because one fund company has merged with another, creating duplicate funds in the lineup. Other funds go away because they're lousy at managing money. Frontier Microcap lost all but $53,000 of the $1.6 million it once had in the 1990s, due mainly to wretched stock-picking. The fund lost an average 37% a year in its last 10 years of life, and departed this world in January.

Even exchange traded funds, which have been wildly popular with investors this year, are vulnerable. Thirty-six ETFs have liquidated in the past 12 months, according to ETF Database. All but one are stock funds. Wisdom Tree shut 10 small, lightly traded ETFs in February. The funds represented less than 3% of the company's assets at the time, ETF Database says.

Bond funds, however, are flourishing. The ICI counted 1,271 taxable bond funds in July, up from 1,260 a year ago....

[Roland99]

54. I'm actually looking at a Bond fund for the bulk of my soon-to-be 401(k) investments

I'm eligible to start in Oct. but am waiting until Jan.

It managed a 4%+ return in 2008 when mutual funds were tanking in the double digits but yet turned in 18% this past year.


Although I only have about 20-25 years before what would probably be a somewhat forced retirement, it's interesting that the stock market is just about at the same point that it was when I cashed out in 1998 to buy a house.

[Demeter]

59. Be Very Vigilant, Bond Funds Tank When Interest Rates Rise

I learned that under Ronald Reagan may he rot in hell for eternity.

[Roland99]

60. Oh yeah.

I can change the mix at any time but, obviously, doing anything that would resemble regular trading will result in being locked out or charged trading fees.

[Po_d Mainiac]

61. Double be aware

You may have the option to move your money between bond funds, stock funds or a MM account, BUT there is often a lapse of up to a week before the funds are actually moved. You need to know if there is a time lag!

I know people that tried to time the peak in late 07 who got creamed. 5 working days can be an eternity with the current markets. And that definitely applies to the bond bubble that is being blown right now.

Question: Does your employer do any sort of match?

[Roland99]

66. Pretty sure it's as of end of that business day

And I get a 50% match up to 6% so, yeah, I'm not passing up a 50% automatic return.

[Hawkowl]

64. Ouch!

You got steamrolled by Volker jacking up the interest rates?

[Demeter]

67. Yeah

And I was living abroad at the time. Couldn't figure out what was happening...

[Demeter]

23. U.S. hard-pressed to stem domestic R&D losses

http://www.latimes.com/business/la-fi-economy-rd-20100913,0,7883731.story



President Obama's proposal to boost the research tax credit for businesses is widely seen as necessary to bolster American competitiveness in the global economy.

But even if the $100-billion plan is approved, it won't begin to address the fundamental question of how to turn that research and new technology into jobs and renewed prosperity for Americans.

Over the last two decades, U.S. scientists and engineers have discovered or pioneered the science behind one blockbuster product after another — from flat-panel screens and robotics to the lithium batteries that run next-generation power tools and electric cars.

Yet in almost every case, production, jobs and most of the economic benefits that sprang from those breakthroughs have ended up overseas.

[Demeter]

24. WHY IS THAT SO?

For decades, Washington has taken a largely hands-off, or laissez faire, approach, sometimes even adopting tax and other policies that critics said actively encourage the movement of manufacturing and other business activity overseas.

By contrast, export giants such as Germany, Japan and South Korea have embraced government policies — and even pressure tactics — that push businesses to maintain operations at home.

GET A CLUE, OBAMA.

[Tansy_Gold]

30. See my post #29 above.

They don't care. They. Don't. Care.




TG, NTY

[Po_d Mainiac]

26. A rock any lady would wear proudly

Just a mere 5 light years distant lies a diamond so large, and new term will be needed to describe the number.

At the core of that cooling star is a diamond 2,500 miles across, which weighs 5 million trillion trillion pounds, or around 2 thousand trillion trillion tons, or approximately 10 billion trillion trillion carats.

http://www.washingtonsblog.com/2010/09/our-sun-will-eventually-turn-into-multi.html

Dream away girls!

[Tansy_Gold]

31. And I just acquired an UltraTec V2 faceter on Saturday

http://www.ultratec-facet.com/


Talk about perfect timing! ;-)




TG, NTY

[Po_d Mainiac]

37. Psst....I think you'll want the larger model :wink: n/t

[Tansy_Gold]

40. Actually, it's 50 light years away, but another interesting quote --

from the linked article:

"The hunt for the crystal core of this white dwarf has been like the search for the Lost Dutchman's Mine. It was thought to exist for decades, but only now has it been located," says co-author Michael Montgomery (University of Cambridge).




Tansy Gold, who lives literally in the shadow of Superstition Mountain and the Lost Dutchman's Mine.

[Po_d Mainiac]

47. What's 260 trillion miles (+/-) amongst friends?

:blush: :blush: :blush:
My Bad

[Tansy_Gold]

52. In the grand scheme of the universe, nothin'.

If not next-door-neighbors, still on the same block. :hi:


The point is, 5 or 50 light years, it's still just so damn COOL! Thank you for posting it, because I love this cool science stuff and I almost never find it.



Tansy Gold, who quit taking science classes because she couldn't memorize valences to make chemical equations come out right.

[Roland99]

27. 8:30 futures - Bulls (Made in China)

S&P 500 1,109.50 0.00 0.00%
DOW 10,480 +87.00 +0.84%
NASDAQ 1,905 +15.50 +0.82%


Stock futures rise on China data, new Basel bank rules
Over the weekend, China reported stronger-than-expected economic data
http://www.marketwatch.com/story/futures-point-to-rally-on-basel-rules-china-data-2010-09-13?dist=beforebell

[Dr.Phool]

33. Looks like they spotted the dog!

Higher and higher!

[alterfurz]

46. this one-?

[Dr.Phool]

51. That's him!!!!! And he took my wife too.

She drinks Jim Beam. It figures.

I just set that up as her desktop background.

[Ghost Dog]

49. Dollar extends slide across the board

FXstreet.com (Buenos Aires) – Nearing London close, dollar extends its slide against major rivals, with EUR/USD having reached an intraday high of 1.2892 this far, and USD/JPY near its 15-year low of 83.35. AUD/USD is also strong and continues approaching to the yearly high around 0.9381, immediate resistance level, ahead of 0.9404, past 2009 yearly high.

US stocks however, had lost initial bullish momentum with DJIA losing ground quickly, barely 25 points above opening price, while S&P gains 0.64% at the time of writing. Such slide could trigger a risk aversion rally if persist, contrarian to past session optimism favoring some dollar gains in the upcoming hours.

/.. http://www.fxstreet.com/news/forex-news/article.aspx?storyid=dc481b01-3d33-4f97-9df9-c8edc0473f45

[Ghost Dog]

50. Government cuts will leave Britain a "brutish" place -unions

MANCHESTER (Reuters) - The coalition government's plans to slash public spending will leave Britain a "darker, brutish, more frightening place," the Trades Union Congress (TUC) said on Monday.

...

The Conservative-Liberal Democrat coalition plans to reduce spending in most departments by a quarter as it tackles a budget deficit totalling 11 percent of national output, a pledge that has prompted strong opposition from trade unions.

"Decent public services are the glue that holds a civilised society together, and we diminish them at our peril," said Barber, whose union umbrella group represents 6.5 million workers, many of them in the public sector.

"Cut services, put jobs in peril, and increase inequality - that is the way to make Britain a darker, brutish, more frightening place," he added, warning it could take generations to rebuild from the effects of the cuts.

/... http://uk.reuters.com/article/idUKTRE68C1YM20100913

[Tansy_Gold]

53. But only for the working classes, so it's okay. n/t

[Tansy_Gold]

56. What the reality of that brutish place would look like -- and then some ironic trivia

http://www.youtube.com/user/xalicehayesx#p/u/148/ZJ5PcV_9BhY

Last week, a friend and I were discussing personal frivolities, and I happened to mention one of my favorites was the 1970s BBC series "Poldark," which my friend had not only never seen but never even heard of. I discovered it's been uploaded (probably in violation of various copyrights) to youtube.

Without going into the complexities and nuances of the plot to this point, I would suggest those interested to skip to about 2:46 in the linked clip, as it gives at least a staged version of what conditions probably need to be before the revolutionary spirit becomes ripe, and then what happens when the harvest begins.

I do not believe the US, or the UK, has reached that point. . . . yet. The working/middle classes still have sufficient resources to fight off mass hunger, mass homelessness, mass death even in the face of the growing gap of inequality.

As for the trivia -- I did not know until the past week, during the email conversations with my friend, that the star of the "Poldark" series, actor Robin Ellis, is married to an American, Meredith Wheeler. Wheeler being a name in my own family tree, I was mildly intrigued, but it's a common enough name so it didn't mean much. Far more intriguing was the fact that google searches kept turning up connections between Mr. Ellis, Ms. Wheeler, and candidate Barack Obama.

http://thecaucus.blogs.nytimes.com/2008/05/01/democrats-abroad-say-yes-we-span/


This link contains a video, too, from April 2008. What hope they had on that ancient little bridge, what hope we had, too.

:cry:


Tansy Gold, NTY

(edit for minor syntactical adjustment)

[DemReadingDU]

62. Not heard or seen that show either

And for now, I agree the masses have resources to fight off mass hunger. However, when the banks freeze up due to lack of liquidity (which almost happened in Oct2008 but averted due to taxpayer bailouts) that is when we will see people panic buying of groceries and necessities which will empty the shelves in the stores.

After the banks freeze up, nothing can move...not delivery trucks for groceries, no gasoline for cars, no credit cards, no nothing, except cash. This freeze-up will be worldwide, and it's going to be a disaster. And that is why taxpayers around the world bailed out the banks and now some countries, to prevent the collapse.

Just my opinion.
:scared:

[Tansy_Gold]

63. And I understand where you're coming from. You may be 100% correct

in the final tally.

Maybe I'm just more stupidly optimistic ;-). I don't think the collapse will come from a freezing of liquidity, since I think that's never been a problem. The banks have always had plenty of liquidity (imho) but they find it more convenient not to lend. The bailout was rigged, and was never really necessary, but it was a convenient ploy to get more money from the peasantry into the hands of the already obscenely rich.

And if there is enough of a government left that it can guarantee "cash," then it will keep the banks operating, one way or another.

I would not, ultimately, be surprised if there were another "event" involving the financial infrastructure, similar to the mini-crash earlier. Not an actual crash fo the markets, but rather a physical event that plunges a sizeable portion of the country into a kind of post-collapse condition. Could be a power black-out, could be just about anything. But I do anticipate a kind of "dry-run" scenario, and I anticipate it within a timeframe of months, not years.


But that's just me, too! :hi:


TG, NTY

[Demeter]

68. That's What I Like Best About Tansy Gold

Her cheerful optimism and "muddling through" attitude....