STOCK MARKET WATCH, Monday November 23

[ozymandius]

Source: du

STOCK MARKET WATCH, Monday November 23, 2009

Bush Administration Officials Convicted = 1
Name(s): David Safavian

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

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

AT THE CLOSING BELL ON November 20, 2009

Dow... 10,318.16 -14.28 (-0.14%)
Nasdaq... 2,146.04 -10.78 (-0.50%)
S&P 500... 1,091.38 -3.52 (-0.32%)
Gold future... 1,149 +6.60 (+0.58%)
10-Yr Bond... 3.36 +0.03 (+0.78%)
30-Year Bond 4.29 0.00 (-0.09%)

---

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

Market Conditions During Trading Hours

GOLD, EURO, YEN, Loonie, Silver and US$

---

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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. Market Observation by Tim W. Wood

The Rally Lives
BY TIM W. WOOD

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

[ozymandius]

2. Today's Report

10:00 Existing Home Sales Oct
Briefing.com 5.85M
Consensus 5.70M
Prior 5.57M

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

[tclambert]

39. October home sales rise 10.1 pct from September - AP

October home sales up 10.1 percent, beating expectations as tax credit spurs sales

By Alan Zibel, AP Real Estate Writer

WASHINGTON (AP) -- Home sales surged for the second month in a row in October, climbing to the highest level in 2 1/2 years as first-time buyers rushed to take advantage of an expiring tax credit.

Home sales nationwide are now up nearly 36 percent from their bottom in January, data Monday showed, though they are still 16 percent below the peak in autumn 2005. At the current sales pace, there is only a 7-month supply of homes on the market and in some areas there are bidding wars.

. . .

The National Association of Realtors said home resales rose 10.1 percent to a seasonally adjusted annual rate of 6.1 million in October, from a downwardly revised pace of 5.54 million in September. It was the biggest monthly increase in a decade, and far above the 5.65 million pace expected by economists, according to Thomson Reuters.

Without adjusting for seasonal factors, sales were up 21 percent from a year earlier and were up in all four regions of the country. The gains were led a 26 percent increase in the Midwest. Sales were up 25 percent in the Northeast, 23 percent in the South and 10 percent in the West.

more at: http://finance.yahoo.com/news/October-home-sales-rise-101-apf-3980633502.html?x=0&sec=topStories&pos=1&asset=&ccode=

[ozymandius]

3. Oil rises above $78 amid Iranian war games

SINGAPORE – Crude prices rose above $78 a barrel Monday in Asia as Iran staged five days of war games, boosting tensions in the oil-rich region.
.....

It said the five-day drill will cover an area a third of the size of Iran and spread across the central, western and southern parts of the country.

Analysts said the military exercises boosted tensions in the Middle East, but they didn't expect supplies to be affected.
.....

Crude also rose on a weaker dollar as investors bought commodities as a hedge against inflation. The euro rose to $1.4978 in Asian trading from $1.4859 on Friday.

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

[ozymandius]

4. Stocks may sputter with Black Friday eyed

NEW YORK (Reuters) – Stocks could sputter this week as volumes dry up in holiday-shortened trading and with a slew of economic reports likely to illustrate the recovery is still fragile.

Investors will also get a glimpse of how holiday shopping could shape up with "Black Friday," which traditionally marks the start of the season as retailers slash prices.
It will be difficult for the economic recovery to make much headway without a pick-up in consumer spending as it accounts for two-thirds of the economy.

A raft of data is squeezed into the first half of the week, shortened by Thursday's Thanksgiving holiday. The delicate nature of the recovery has analysts split on whether the economy will advance from here or still faces another leg down.
.....

Third-quarter preliminary gross domestic product is expected to come in at 2.9 percent, revised down from an advance reading of 3.5 percent last month, according to Reuters data. Analysts have been scaling back expectations for economic growth after data last week showed a larger-than-expected trade deficit.

Weekly initial claims for jobless benefits will be released on Wednesday, a day earlier than usual. Analysts expect first time claims to dip slightly to 500,000.

http://news.yahoo.com/s/nm/20091122/bs_nm/us_column_stocks_outlook

[Tansy_Gold]

14. "The recovery is still fragile"?

Only one thing comes to mind with a statement so patently absurd.

http://www.youtube.com/watch?v=-XUTBJIV93w&feature=player_embedded



Owner: No no he's not dead, he's, he's restin'! Remarkable bird, the Norwegian Blue, idn'it, ay? Beautiful plumage!

Mr. Praline: The plumage don't enter into it. It's stone dead.

Owner: Nononono, no, no! 'E's resting!

Mr. Praline: All right then, if he's restin', I'll wake him up! (shouting at the cage) 'Ello, Mister Polly Parrot! I've got a lovely fresh cuttle fish for you if you show...

[Demeter]

30. Well Yes, The Rich Man's Recovery Is Fragile

because it's all on paper, and he can't get anything more out of unemployed homeless people to cover his wild bets, nor will they be in the market for any of his overpriced, imported goods, nor will they be paying taxes into the Treasury for him to pilfer. What's a guy got to do to steal a shekel around here these days?

The corporations and banks will have to keep cannibalizing themselves if they want obscene, unearned profits.

[DemReadingDU]

33. Really, they speak to the rich man

We people don't matter, we're unemployed, we've had our savings stolen, there's no recovery for us. But for the wealthy, it is all about keeping their status quo, and it is indeed fragile.

[Demeter]

37. Balancing on a Knife's Edge, As It Were

[tclambert]

40. Or . . . they might go up.

Dow: +1.29%
Nasdaq: +1.4%
S&P 500: +1.36%

[ozymandius]

5. Gold Jumps to Record as Slumping Dollar Spurs Investment Demand

Nov. 23 (Bloomberg) -- Gold jumped to a record in London and New York as a slumping dollar boosted bullion’s appeal as an alternative asset. Other precious metals gained.

The U.S. Dollar Index, a gauge of the greenback’s value against six currencies, slid as much as 0.8 percent after Federal Reserve Bank of St. Louis President James Bullard said he supported extending the central bank’s purchases of mortgage- backed securities. Bullion has climbed 32 percent this year as the currency index has dropped 7.7 percent.
.....

Gold for immediate delivery climbed as much as $17.28, or 1.5 percent, to $1,167.88 an ounce and traded at $1,165.50 by 9:44 a.m. in London. Gold futures for December delivery on the New York Mercantile Exchange’s Comex division increased 1.6 percent to $1,165.40 an ounce, the seventh advance in a row, after reaching $1,167.80.

The metal also rose to a record against the pound today, climbing as high as 703.24 pounds an ounce.

http://www.bloomberg.com/apps/news?pid=20601116&sid=aMIz16PMCN.U

[UpInArms]

16. Gold hits record above $1,167/oz as dollar slips

http://www.reuters.com/article/businessNews/idUSTRE5A80MQ20091123?feedType=RSS&feedName=businessNews&sp=true

LONDON (Reuters) - Gold hit a record high at $1,167.45 an ounce on Monday as dollar weakness pushed the metal through key technical resistance levels, fuelling momentum buying after the metal's sharp run higher earlier this month.

Spot gold was bid at $1,165.45 an ounce at 1002 GMT (5:02 a.m. EST), against $1,148.20 late in New York on Friday. U.S. gold futures for December delivery on the COMEX division of the New York Mercantile Exchange rose $19.10 to $1,165.90 an ounce.

Afshin Nabavi, head of trading at MKS Finance in Geneva, said the metal's rise through technical stops had triggered fresh buying.

"The way the market held the $1,130 support on Thursday and Friday was very impressive," he said. "It looks like $1,200 will be seen much sooner than expected."

The dollar extended broad losses on Monday, hitting a six-week low versus the yen after comments from a Federal Reserve official bolstered the view that U.S. interest rates will stay low.

Weakness in the U.S. unit boosts gold's appeal as an alternative asset and makes dollar-priced commodities cheaper for holders of other currencies.

Oil prices rose more than 1 percent to top $78 a barrel, after the U.S. dollar lost its footing and heightened tensions between key oil exporter Iran and Western nations raised speculation of a potential supply threat.

Strong oil prices raise the metal's safe-haven appeal against inflation.

...more...

[ozymandius]

6. East Europe Proving Too Good as Debt Erodes 50% Gain (Update1)

Nov. 23 (Bloomberg) -- Eastern Europe, where currencies and equities combined to produce total dollar-denominated returns of about 50 percent this year, is showing signs of unraveling as the continent’s favorite investment because of runaway debts.

Hungary’s forint is the second-worst performer in the past month of 26 emerging-market currencies, cutting its gain against the dollar since March 10 to 33 percent. Slovakia, Poland, Bulgaria and the Czech Republic are among seven countries showing the steepest increase in credit risk of 21 sovereign credit-default swaps tracked by Bloomberg. The NTX New Europe Blue Chip Index has fallen 2.7 percent after closing at 1,208.60 on Nov. 16, the highest since Oct. 7, 2008.
.....

Swelling public deficits have forced European Union members, including Poland and Latvia, to shelve euro adoption targets. Romania and Hungary have had to implement budget cuts that exacerbated their recessions to meet requirements for loans of 20 billion euros ($30 billion) each to finance their current- account and budget deficits.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aYGgblaDY3ts&pos=3

[ozymandius]

7. Cramer: “People Like Overpaying!”

From The Big Picture:

With The Dow at new highs of 10440, CNBC¹s resident revisionist historian Jim Cramer encouraged what remains of his audience To “Buy! Buy! Buy!” recommending the purchase of Williams Sonoma (WSM $22) who sells over-priced culinary gadgets that few actually need. “People LOVE over paying for things!” he exclaimed.
.....

Coincidentally, Nielsen reports that his viewership has moved in lock-step with his recommendations, and is also down 50%.

Cramer remains his own biggest fan despite studies which show his picks have actually underperformed the markets and are no better than those chosen randomly by a chimpanzee.

I recall Jon Stewart of The Daily Show saying: "If you followed Jim Cramer's advice, today you would have a million dollars. Provided you started with ten million dollars."

[Hugin]

8. Chimpanzee: "ook!"

Darn it... This article exposes my whole investment strategy. Now, cheetah is going to want more bananas!

[AnneD]

21. Save your money....

just do the opposite of what Cramer says (or at least threaten Cheetah with it) . I view him as a contraian indicator.

[tclambert]

41. That might work, but I'ma gonna check eBay for more chimps.

All mine are busy typing the works of Shakespeare.

[ozymandius]

9. AT&T is in the process of being fired.

Shoddy DSL service is the cause. It rained again here. Which means that my internet connection does not work reliably. Yesterday is the seventh time in six weeks that I have called for service. A repair tech is scheduled to come out here again today. Maybe he can make their shoddy service work for someone else. At the moment, I am looking either at cable internet or a wireless service. Leaning toward cable.

Anyway, should my crap DSL allow this to post, I wish you all a wonderful day. It is time for me to prepare for work.

:hi:

[Hugin]

11. Have a good day, Ozy!

:hi:

I am about to depart for the day as well.

[Demeter]

31. So Where Will You Go for DSL, Ozy? Comcast?

[Hugin]

10. Futures @ 05:40-ish...

INDEX VALUE CHANGE TIME

DJIA 10,388.00 85.00 05:40
S&P 500 1,100.70 10.60 05:43
NASDAQ 100 1,779.25 15.75 05:37

[Festivito]

12. Debt: 11/19/2009 12,011,787,382,266.61 (DOWN 18,415,319,247.30) (Thu)

(Debt down some more. Up large one day, then down some for a couple of days. Good day all.)

= Held by the Public + Intragovernmental(FICA)
= 7,611,173,413,686.03 + 4,400,613,968,580.58
DOWN 21,100,228,230.36 + UP 2,684,908,983.06

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 308-Million person America.
If every American, man, woman and child puts in $3.25 each THAT'S 1B$.
A family of three: Mom, Dad, Child: $9.74, ABOUT TEN BUCKS for a 1B$ 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 10 seconds we net gain another American, so at the end of the workday of the report, there should be 307,986,078 people in America.
http://www.census.gov/population/www/popclockus.html ON 11/07/2009 08:19 -> 307,879,272
Currently, each of these Americans owe $39,001.07.
A family of three owes $117,003.22. (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 2,572,868,543.37.
The average for the last 30 days would be 1,972,532,549.92.
The average for the last 31 days would be 1,908,902,467.66.
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$/day.
There were 35 reports in 50 days of FY2010 averaging 2.91B$ per report, 2.04B$/day.
Above line should be okay

PROJECTION:
There are 1,158 days remaining in this Obama 1st term.
By that time the debt could be between 13.6 and 18.0T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
11/19/2009 12,011,787,382,266.61 BHO (UP 1,384,910,333,353.53 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 +0,101,958,378,754.90 ------------* * BHO
Endof10 +0,744,296,164,910.77 ------------* * * * * * * * * * * * * * * * * * Linear Projection

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
10/29/2009 -019,769,093,363.09 -
10/30/2009 +031,206,306,633.43 ------------**********
11/02/2009 +091,997,621,963.98 ------------********** Mon
11/03/2009 +000,189,596,548.58 ------------********
11/04/2009 -000,084,777,046.07 ----
11/05/2009 +008,148,647,528.82 ------------*********
11/06/2009 -000,072,128,565.19 ----
11/09/2009 +000,009,587,108.80 ------------****** Mon
11/10/2009 +000,298,454,946.90 ------------********
11/12/2009 +005,635,979,422.58 ------------*********
11/13/2009 -000,263,776,071.91 ---
11/16/2009 +038,287,630,031.50 ------------********** Mon
11/17/2009 +000,263,245,360.02 ------------********
11/18/2009 -000,023,369,864.09 ----
11/19/2009 -021,100,228,230.36 -

134,723,696,403.90 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/

(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=4154508&mesg_id=4154531

[Festivito]

49. Debt: 11/20/2009 12,010,561,742,215.21 (DOWN 1,225,640,051.40) (Fri)

(Debt down some more. Up large one day, then down some for several days. Good day all.)

= Held by the Public + Intragovernmental(FICA)
= 7,611,082,619,937.08 + 4,399,479,122,278.13
DOWN 90,793,748.95 + DOWN 1,134,846,302.45

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 308-Million person America.
If every American, man, woman and child puts in $3.25 each THAT'S 1B$.
A family of three: Mom, Dad, Child: $9.74, ABOUT TEN BUCKS for a 1B$ 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 10 seconds we net gain another American, so at the end of the workday of the report, there should be 307,994,718 people in America.
http://www.census.gov/population/www/popclockus.html ON 11/07/2009 08:19 -> 307,879,272
Currently, each of these Americans owe $38,996..
A family of three owes $116,988.. (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 2,346,825,808.99.
The average for the last 30 days would be 1,799,233,120.22.
The average for the last 31 days would be 1,741,193,342.15.
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$/day.
There were 36 reports in 51 days of FY2010 averaging 2.80B$ per report, 1.98B$/day.
Above line should be okay

PROJECTION:
There are 1,157 days remaining in this Obama 1st term.
By that time the debt could be between 13.6 and 18.0T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
11/20/2009 12,010,561,742,215.21 BHO (UP 1,383,684,693,302.13 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 +0,100,732,738,703.50 ------------* * BHO
Endof10 +0,720,930,384,838.78 ------------* * * * * * * * * * * * * * * * * * Linear Projection

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
10/30/2009 +031,206,306,633.43 ------------**********
11/02/2009 +091,997,621,963.98 ------------********** Mon
11/03/2009 +000,189,596,548.58 ------------********
11/04/2009 -000,084,777,046.07 ----
11/05/2009 +008,148,647,528.82 ------------*********
11/06/2009 -000,072,128,565.19 ----
11/09/2009 +000,009,587,108.80 ------------****** Mon
11/10/2009 +000,298,454,946.90 ------------********
11/12/2009 +005,635,979,422.58 ------------*********
11/13/2009 -000,263,776,071.91 ---
11/16/2009 +038,287,630,031.50 ------------********** Mon
11/17/2009 +000,263,245,360.02 ------------********
11/18/2009 -000,023,369,864.09 ----
11/19/2009 -021,100,228,230.36 -
11/20/2009 -000,090,793,748.95 ----

154,401,996,018.04 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/

(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=4157312&mesg_id=4157357

[tclambert]

13. The next economic bubble: Zhu Zhu pets?

This Year's Holiday Hit Toy: Zhu Zhu Pets

By Christopher Palmeri

Remember the Cabbage Patch Kids craze? The Tickle Me Elmo frenzy? Meet their 2009 brethren, Zhu Zhu Pets.

The quintet of electronic hamsters has been the runaway hit of the recession-hobbled holiday season so far. The furry little, wheeled critters scoot around a Habitrail-like track, spin in a hamster wheel, and drive little hamster sports cars. The battery-powered pets coo and squeak and have a little artificial intelligence—knowing to make teeth-brushing sounds when they enter their little bathrooms, for example. "They're so real—without the mess," chirps a television commercial.

They are also flying off the shelves, with many of the nation's largest retailers already out of stock. The critters were designed to sell at retail for $9.99 each but they have recently been selling for as much as $40 on eBay.com (EBAY) and Amazon.com (AMZN). "Nobody saw these little hamsters coming," says Chris Byrne, a toy reviewer at the Web site Timetoplaymag.com.

more at: http://www.businessweek.com/bwdaily/dnflash/content/nov2009/db20091120_238724.htm
_______________________________

I've heard speculators are now asking up to $65 dollars for these $10 toys on E-bay. The accessories are where the toy company will make its big bucks. The animatronic hamsters are a gateway toy. It will no doubt get worse as Retail Day, I mean Christmas, nears. Then afterward, the prices will no doubt plunge. We know this will happen. Unfortunately, I don't know of any way to invest in this particular bubble.

[Loge23]

20. Another USA innovation!

"The pets are made by Cepia, a seven-year-old outfit in St. Louis. It's the second toy startup for company CEO Russell Hornsby, a Mattel veteran who says his first company, Trendmasters, went under in the 2002 recession after his bank cut his funding."

WOW! Way to go! How about cranking up those factories! How about putting Americans to work again!

"In early November, Hornsby hopped on a plane to spend the next two months in China boosting production of Zhu Zhus. He convinced the four plants the company has under contract to increase their output from 70,000 pieces to 120,000 pieces per day."

Oh. Never mind.

Cepia, according to a report on the national News last week, employs 14 people. Yay.

[AnneD]

22. Those 14 employees.....

that is the green shoot you heard so much about.

[Tansy_Gold]

24. .

There aren't enough :grr:s in all of cyberland to express my contempt.




TG

[InkAddict]

26. Go here and watch the "unboxing" video

The kid has figured out how to cash in and perhaps make a temporary killing in the "market."

http://www.getzhuzhupets.com/

[Roland99]

27. My first thought was how pathetic society has become that we can't have REAL pets

I guess there is a place for these with people who have children with allergies to pet dander.

But that's not who will buying most of these.

This will fade much like any other fad toy.

[CatholicEdHead]

28. What is the current return on Benie Babies?

Consider those when making long term investments in fad toys.

[tclambert]

42. I was thinking selling short just before Christmas made more sense.

Except I can't figure out how to actually do that. Does anybody list Zhu Zhu Futures, or Zhu Zhu Options?

[tclambert]

43. How about Zhu Zhu Derivatives?

Unregulated of course.

[hamerfan]

45. Zhu Zhu petals, maybe... n/t

[UpInArms]

15. dollar watch

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

Last trade 75.063 Change -0.417 (-0.54%)

US Dollar Forecast to Remain Range-Bound versus Euro

http://www.dailyfx.com/forex/fundamental/forecast/weekly/usd/2009-11-21-0057-US_Dollar_Forecast_to_Remain.html

Fundamental Outlook for US Dollar: Bullish

- Ben Bernanke calls for strong US Dollar, but Greenback fails to hold gains
- Crowd sentiment accurately calls for US Dollar bounce
- US Dollar surges as traders sell risk following Dell earnings report

The US Dollar finished the week higher against all major currencies except the Japanese Yen, but the downtrodden currency failed to break key range highs against the Euro and other important counterparts. Forex markets remained highly indecisive and traders were seemingly unwilling to bust the Euro/US Dollar exchange rate from its multi-week range. Our DailyFX 1-Week Volatility Index continues to trade near its lowest levels of the year, and it seems FX Options traders are pricing in similar range trading for the holiday-shortened trading week ahead. A number of historically market-moving economic releases may nonetheless force sharp intraday price moves through mid-week trade—especially given the state of relative unease across key asset classes.


The North American Thanksgiving holiday means that markets will likely become illiquid through later-week trade, but earlier-week price action could produce big US Dollar moves on several important reports. The first on the ledger is the admittedly unpredictable Existing Home Sales report, which often goes unnoticed but occasionally produces great equity market volatility. The following day brings the second release for Q3 Gross Domestic Product figures, Conference Board Consumer Confidence survey results, and the minutes from the Federal Open Market Committee’s most recent policy-setting meeting. All three events have been known to force considerable moves in the S&P 500 and US Dollar, and it remains important to watch for surprises from each.

Fed Chairman Ben Bernanke recently shook US Dollar markets when he said that the Fed was paying close attention to exchange rate moves. Markets will pay very close attention to any and all references to the US Dollar through the Fed’s discussions—especially as the Greenback trades near significant lows versus the Euro and other key counterparts. We admittedly put low odds on any explicit mention of the US Dollar in the Fed minutes, but such low expectations could make for extensive volatility if we do see the Fed talking the dollar higher. Suffice it to say, traders should be on the lookout for post-Fed financial market price moves. Personal Income and Spending, Durable Goods Orders, and New Home Sales reports round out the week of significant US Dollar event risk. Any one of these releases could likewise spark big moves—especially in the relatively illiquid trading session before the US holiday.

The US Dollar remains in an uneasy range against major counterparts, and exceedingly low volatility expectations suggest that it may remain restricted through the week ahead. Many weeks ago we argued that extremely one-sided FX Futures and Options positioning meant that a substantive US Dollar correction was inevitable. We have indeed seen the Greenback bounce off of range lows, but positioning has subsequently corrected and does not necessarily point to further Dollar gains. This leaves us in a very uncertain position, and we may need to wait for a large shock across financial markets to force substantive shifts in trends. FX Options put low odds on any such occurrence in the week ahead, however, and low volatility expectations leave markets primed for further range trading.



...more...

US Dollar Retreats as Australia Leads Stocks Higher in Asian Trading

http://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2009-11-23-0604-US_Dollar_Retreats_as_Australia.html

The US Dollar traded broadly lower, down as much as 0.4% on average against major currencies as stocks pushed higher in Asian trading, weighing on demand for the safety-correlated greenback. Risk sentiment is likely to remain as the dominant catalyst driving currency markets in European hours.

Key Overnight Developments

• US Dollar Retreats as Australia Leads Stocks Higher
• Euro Rises, Pound Mixed to Start the Trading Week

Critical Levels



The Euro advanced in overnight trading, adding as much as 0.6% against the US Dollar. Although the British Pound managed to recover from losses early in the session on broad USD weakness, the UK unit failed to build meaningful momentum and remained confined to familiar ranges ahead of the opening bell in Europe.

Asia Session Highlights



With no significant data on the calendar, currency markets turned to risk trends to drive price action. The US Dollar traded broadly lower, down as much as -0.4% on average against major currencies as stocks pushed higher in Asian trading, weighing on demand for the safety-correlated greenback. The MSCI Asia Pacific regional benchmark index advanced 0.5%, with Australia leading the way as building materials maker James Hardie Industries said its full-year profit will be close to the top of the range of analysts’ forecasts at $115 million. The announcement pushed Australia’s S&P/ASX 200 equity index up as much as 0.8%. The markets’ response may have been amplified by thin liquidity, with Japanese exchanges closed for the Labor Thanksgiving holiday.

...more...

[UpInArms]

17. NY Times to Goldman Sachs: Pay up to cut public debt

http://www.reuters.com/article/businessNews/idUSTRE5AG5PQ20091123?feedType=RSS&feedName=businessNews

NEW YORK (Reuters) - A New York Times editorial slammed Goldman Sachs for its role in the financial crisis and said that instead of paying big bonuses to its employees it should make a multibillion-dollar gift to help reduce the U.S. national debt.

The editorial, dated November 21 on the Times' website and published in the Sunday, November 22, print edition, attacked Goldman for everything from its top executive's failure to apologize properly for his investment bank's part in creating the crisis as well as Goldman's awarding of bonuses related to profits that the paper said were boosted by a government bailout.

The Times sniffed at Goldman CEO Lloyd Blankfein's acknowledgment last week that his bank "participated in things that were clearly wrong," saying that he was not specific about what the company had done wrong and his remarks did not "come close to an apology."

It cited the company's ability to set aside $16.7 billion for bonuses this year as it was able to post "blowout profits" after receiving a $10 billion government bailout and $12.9 billion in payments and collateral in relation to the government bailout of American International Group.

The paper described Goldman's pledge earlier this week of $500 million over five years to help small businesses as "crumbs from its table," saying it should do much more.

"The money will be welcomed by recipients, but if Goldman wants to make a meaningful contribution, it would have to be in the billions and aimed more directly at taxpayers," the Times said.

...more...

okay - I went and hunted and here it is: (next post)

[UpInArms]

18. Goldman's Non-Apology

http://www.nytimes.com/2009/11/22/opinion/22sun1.html

“Certainly, our industry is responsible for things. We’re a leader in our industry, and we participated in things that were clearly wrong and we have reasons to regret and apologize for.”

—Lloyd Blankfein, chairman and chief executive, Goldman Sachs, Nov. 17, 2009.

•

We’ll give this to Mr. Blankfein: On some level, he seems to understand that an apology is in order. But his remarks do not come close to an apology. Even if he had said, “we’re sorry,” it would have been hollow since he never actually said what he was sorry for (“things” doesn’t cut it) or to whom he was apologizing.

Outside Wall Street, those blanks are not so hard to fill in. It is widely and correctly understood that Wall Street, with Goldman as a leader and with regulators in thrall, helped to inflate and profited from a credit bubble that burst and cost tens of millions of Americans their jobs, incomes, savings and home equity. American taxpayers continue to stand behind the bailouts and other government interventions that have stabilized the financial system, including Goldman, enabling the firm to post blowout profits in 2009 and to set aside $16.7 billion for bonuses so far this year.

Goldman does not see it that way. It says it never really needed government aid to survive the financial crisis. In that telling, taxpayer dollars have not helped to generate its post-crash profits, and anger over bonuses is jealousy over the good fortune of others.

That is absurd. Goldman has repaid its initial $10 billion bailout allotment, but that is only a sliver of its taxpayer support. The firm was paid $12.9 billion, for example, in the bailout of American International Group, and a report by the bailout’s inspector general refutes Goldman’s claim that it did not need the money. Perhaps the biggest continuing prop is that the government clearly considers Goldman too big to fail, which means that taxpayers are on the hook if Goldman faces the abyss again.

On the day of Mr. Blankfein’s non-apology, Goldman pledged $500 million over five years — crumbs from its table — to help 10,000 small businesses. It is hard to take seriously Goldman’s claim that the program was not motivated by its public relations problems. The money will be welcomed by the recipients, but if Goldman wants to make a meaningful contribution, it would have to be in the billions and aimed more directly at taxpayers.

So, here’s a thought: A multibillion-dollar gift to the federal Bureau of the Public Debt, which accepts tax-deductible donations to reduce the national debt. The donation can come from the bonuses; that way, it would not harm shareholders, because they only get their cut after the bonuses are paid. Goldman’s tax savings from the donation could help finance the small-business initiative.

...more...

[Demeter]

32. Yeah, Like That Is Gonna Happen. As Scrooge Said: "HUMBUG!"

[Roland99]

35. Whatever happened to making money by making things?

Speculation is driving up the price of oil, gold, etc. as the dollar becomes worth less. Firms like Goldman Sachs, JP Morgan, et al are jacking the prices up astronomically out of pure speculation. The prices aren't rising due to actual market realities.

And we're all left on the sidelines seeing more of our hard-earned dollars go to pay for basics as oil is a fundamental component of products across many industries. That, and more of our tax dollars (and our kids' and grandkids' tax dollars) go to bail out these behemoth investment firms so they can turn around and invest more on their own and play in their unregulated "dark matter" markets, too.

The consumer is getting consumed.

[UpInArms]

19. Wave of Debt Payments Facing U.S. Government

http://www.nytimes.com/2009/11/23/business/23rates.html?_r=1&em=&pagewanted=all

WASHINGTON — The United States government is financing its more than trillion-dollar-a-year borrowing with i.o.u.’s on terms that seem too good to be true.

But that happy situation, aided by ultralow interest rates, may not last much longer.

Treasury officials now face a trifecta of headaches: a mountain of new debt, a balloon of short-term borrowings that come due in the months ahead, and interest rates that are sure to climb back to normal as soon as the Federal Reserve decides that the emergency has passed.

Even as Treasury officials are racing to lock in today’s low rates by exchanging short-term borrowings for long-term bonds, the government faces a payment shock similar to those that sent legions of overstretched homeowners into default on their mortgages.

With the national debt now topping $12 trillion, the White House estimates that the government’s tab for servicing the debt will exceed $700 billion a year in 2019, up from $202 billion this year, even if annual budget deficits shrink drastically. Other forecasters say the figure could be much higher.

In concrete terms, an additional $500 billion a year in interest expense would total more than the combined federal budgets this year for education, energy, homeland security and the wars in Iraq and Afghanistan.

The potential for rapidly escalating interest payouts is just one of the wrenching challenges facing the United States after decades of living beyond its means.

The surge in borrowing over the last year or two is widely judged to have been a necessary response to the financial crisis and the deep recession, and there is still a raging debate over how aggressively to bring down deficits over the next few years. But there is little doubt that the United States’ long-term budget crisis is becoming too big to postpone.

...more...

[AnneD]

23. Since us 97% don't have any money or jobs now....

I guess they will finally HAVE TO raise taxes on that 3%.

[Roland99]

25. It's National Get a Free Pony Day, eh?

U.S. stocks soar at the open as commodities gain
http://www.marketwatch.com/story/us-stocks-soar-at-the-open-as-commodities-gain-2009-11-23

[Warpy]

29. Every time the dollar inches down, the markets soar

Every time the dollar inches back up, the markets close at a loss.

Surely you've noticed that one by now.

Oh, I love the illusion of wealth that the present market is giving me. I am not deluded enough to believe 40%+ is real.

[AnneD]

34. Students may not be allowed to graduate because they're obese

More than two dozen seniors at Lincoln University, in Oxford, Pa., are in danger of not being able to graduate this spring -- not because they're under disciplinary probation or haven't fulfilled the requirements of their majors, but because they were obese as freshmen."

That's right: the historically Black College has a new requirement for graduation. Students must either have a BMI below 30 (a BMI of 30 or higher is considered obese) or complete a one-semester "Fitness For Life" class.

Some 19% of 2006's freshman class had BMIs over 30, but most of those students either lost some weight or took the class. However there are still about 25 students left -- out of a class of 484 -- who have neither lost weight nor taken the class.

Students and some well-meaning educational experts are questioning the wisdom of the policy, but it really makes perfect sense. Colleges have a responsibility to prepare their students to be productive members of society, and to help them gain the skills and attributes that will help them succeed in the workplace.


more......

http://www.walletpop.com/blog/2009/11/23/students-may-not-be-allowed-to-graduate-because-theyre-obese/

They signed a contract but I can see a lawsuit on this one.....You saw it here first Marketeers.

[Demeter]

38. Every Time I Think I've Seen the Ultimate in Stupidity

something like this pops up.

[tclambert]

44. Dean Wormer got a new gig?

"Fat, drunk and stupid is no way to go through life, son." Somebody's gonna wind up with a dead horse in his office.

[Dr.Phool]

47. Fat, Drunk and Stoopid have always seemed to work for me!

[AnneD]

48. LOLOLOLOLOLOL.....

:rofl:

You may be chubby and right drunk.....but ya be far from stoopid.

[mullard12ax7]

36. TMM, Totally Manipulated Monday: Globex used as it's even easier to move

Anyone else notice the entire move occurred in Globex trading before the U.S. "free" markets even opened? As someone said the other day, "we live in a corrupt country". I'll add that it's a "failed and criminal capitalist model that is being propped up by propaganda and government corruption".

[hamerfan]

46. I did not notice the Globex trading,

But I always wanted to say I like your name!
hamerfan