STOCK MARKET WATCH, Monday, March 14, 2011

Source: du

STOCK MARKET WATCH, Monday March 14, 2011

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Euro, Yen, Loonie, Silver and Gold

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Bush Administration Officials Convicted = 2
Names: David Safavian, James Fondren
Dishonorable Mention: former House majority leader, Tom DeLay

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

SINGAPORE – Oil prices dropped below $99 a barrel Monday in Asia after a massive earthquake and tsunami devastated northeastern Japan, likely denting demand for crude from the world's third-largest economy.

Benchmark crude for April delivery was down $2.28 at $98.88 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract lost $1.54 to $101.16 on Friday.

In London, Brent crude was down $1.63 at $112.21 a barrel on the ICE futures exchange.

Officials estimate a 10-meter (33-foot) wall of seawater triggered by an 8.9 magnitude quake off the coast of northern Japan on Friday killed at least 10,000 people and severely damaged the country's energy infrastructure. The benchmark Nikkei 225 stock average fell more than 6 percent Monday.

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

tell: noun; a revealing characteristic, especially in poker.

And what does it reveal? That the price of oil was based on something other than costs and demand, and that the speculators are really, really scared out of their wits.

... The MSCI Asia Pacific Index sank 2.9 percent to 131.15 at 4 p.m. in Tokyo and the Nikkei 225 plunged 6.2 percent. Futures on the Euro Stoxx 50 Index lost 0.3 percent and those on the Standard & Poor’s 500 Index declined 0.5 percent. The yen slid against 13 of 16 major currencies as the central bank said it will inject 15 trillion yen ($183 billion) into the financial system. Crude retreated for a fifth day. Gold added 0.5 percent.

...

About two stocks dropped for each that gained on MSCI’s Asia index. Tokyo Electric Power Co., which is battling to avoid a meltdown at its Fukushima nuclear plant following a hydrogen explosion, tumbled 24 percent, the biggest loss on the Nikkei 225. Paladin Energy Ltd., a Perth-based company producing uranium in Africa, slumped 16 percent on concern the disaster will hurt demand for reactor fuel.

Posco, South Korea’s biggest steelmaker, rose 8.3 percent, leading gains among steel and construction-material suppliers on speculation of increased demand from reconstruction in Japan.

...

Japan’s bonds rose for a second day, pushing yields on benchmark five-year notes down by the most since October 2008, as the Bank of Japan said it will expand the size of its asset- purchase program. The rate slid nine basis points to 0.475 percent. Five-year credit-default swaps on Japanese government debt surged 13 basis points to 92 points, the biggest increase since February 2009 and the highest level in eight months, according to prices from Deutsche Bank AG and data provider CMA.

/... http://noir.bloomberg.com/apps/news?pid=20601087&sid=aeb4OPN5zBTs&pos=2

--
Bank of Japan Injects Record Cash, Expands Asset Purchases

March 14 (Bloomberg) -- The Bank of Japan poured a record amount of cash into the financial system and doubled the size of their asset-purchase plan to shield the economy from the effects of the nation’s strongest earthquake on record.

The central bank pumped 15 trillion yen ($183 billion) into money markets to assure financial stability amid a plunge in stocks and surge in credit risk. Governor Masaaki Shirakawa and his board also increased the program that buys assets from government bonds to exchange-traded funds to 10 trillion yen.

Policy makers said they were concerned corporate and household sentiment will worsen, with production set to decline in the aftermath of the temblor and an ensuing tsunami. The March 11 catastrophe killed an estimated number of more than 10,000 people, shut down factories, prompted rolling power cuts and sparked the risk of a meltdown at a nuclear power plant.

“The BOJ’s showing its resolve to do all it can to stabilize financial markets,” said Yasunari Ueno, chief market economist at Mizuho Securities Co. in Tokyo.

/... http://noir.bloomberg.com/apps/news?pid=20601087&sid=aSMc567DqxuY&pos=1

March 14 (Bloomberg) -- European leaders are betting their retooled bailout plan can defuse the region’s debt crisis as they reject costlier remedies and put the onus for stopping the turmoil on cash-strapped governments.

In a pact struck in the early hours of the weekend and two weeks sooner than investors expected, officials broadened the size and scope of their 440 billion-euro ($614 billion) bailout fund and eased the terms of Greek rescue loans. They resisted calls to buy bonds in the open market or finance buybacks.

...

“European leaders have delivered a genuine surprise just when the market was starting to fear the worst,”

...

The latest salvo of measures sends “an important message on the political pledge of the euro members to fight for the euro’s stability,” German Chancellor Angela Merkel said after the Brussels talks. “Everyone had to make a contribution. I hope that this will also be a good message to the world in terms of the euro as a major currency.”

/... http://noir.bloomberg.com/apps/news?pid=20601087&sid=aOjrz6xy3TP8&pos=3

That means the people get to pay the bill for Wall Street banksters, yet again.

The financial terrorism continues.

From Operation LeakS' site, http://bankofamericasuck.com , here is the initial release of what appears to be a whistleblower's (former employee) disclosure that Brian Moynihan's firm is lying to the Federal government. The punchline is that this appears to be a concerted effort from the ground up to hide foreclosure data from auditors and the Fed in order to obtain select preferential treatment in a variety of housing related axes, in many instances to accelerate foreclosures. As the whistleblower summarizes: "Balboa Insurance/Countrywide knowingly hiding foreclosure information from federal auditors during the federal takeovers of IndyMac Federal (a subsidiary of OneWest) and Aurora Loan Services (a subsidiary of Lehman Bros Holdings), falsifying loan documentation in order to proceed with foreclosures by fixing letter cycles in the system, reporting incorrect volumes to all of their lenders and to the federal auditors to avoid fines for falling behind on Loan Modifications, purposefully and knowingly adjusting premiums for REO insurance for their corporate clients while denying forebearances for individual borrowers, etc, etc, etc. In addition, if anyone can get me a copy of the image of the hard drive that Jullian Assange reportedly has from the BofA executive, it will not take a dozen financial analysis to decipher it like I've read in the news. I could find all the dirt on that hard drive within a week." We'll see if Assange steps up. In the meantime we expect Brian Moynihan to pull a Dick Fuld and tell a Congressional hearing he had no idea any of this was happening, leading to the termination of some mid-level employee, notably the person who invalidated the following concerns: "I'm just a little concerned about the impact this has on the department and company. Why are we removing all record of this error?... There is always going to be the paper trail when one of these sent documents come back, this to me, seems to be a huge red flag for the auditors...This just doesn't seem right to me." That's ok - it will most certainly seem right to everyone in "law enforcement." In the meantime, note the date: November 2010. This is not a Ken Lewis transgression (as we previously assumed) - this is all Brian, all the way.

The core of the accusation:

My name is (Anonymous). For the last 7 years, I worked in the Insurance/Mortgage industry for a company called Balboa Insurance. Many of you do not know who Balboa Insurance Group (soon to be rebranded as QBE First by Australian Reinsurance Company QBE according to internal communication sent to all Balboa associates) is, but if you’ve ever had a loan for an automobile, farm equipment, mobile home, or residential or commercial property, we knew you. In fact, we probably charged you money…a lot of money…for insurance you didn’t even need.

Balboa Insurance Group, and it’s largest competitor, the market leader Assurant, is in the business of insurance tracking and Force Placed Insurance (aka Lender Placed Insurance, FOH, LPI, etc). What this means is that when you sign your name on the dotted line for your loan, the lienholder has certain insurance requirements that must be met for the life of the lien. Your lender (including, amongst others, GMAC, Aurora Loan Services , IndyMac Federal Bank , Saxon, HSBC, PennyMac , Downey Savings and Loans, Financial Freedom, Select Portfolio Services, Wells Fargo/Wachovia, and the now former owners of Balboa Insurance themselves…Bank of America) then outsources the tracking of your loan with them to a company like Balboa Insurance.

Balboa makes some money by charging these companies to track your insurance (the payment of which is factored into your loan). If you do not meet the minimum insurance requirements set by your lienholder, Balboa Insurance places a force placed insurance policy on your loan. You are sent a letter telling you that you do not have insurance, and your escrow account is then adjusted for the inflated premium of a full coverage policy placed by Balboa’s insurance tracking group, run by Steven Ramsthel, Sr Vice President of Loan Tracking Operations & Customer Care at Balboa Insurance Group, as seen on his LinkedIn profile below:

http://www.zerohedge.com/article/operation-leaks-releases-initial-bofa-emails-indicating-premeditated-intent-deceive-governme

Anonymous's Bank of America leak:

http://uiu.me/U.zip #legion
5 minutes ago Favorite Retweet Reply

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“Anonymous” Whistleblower Charges BofA With Large Scale Force Placed Insurance Scheme With Cooperation of Servicers

03/14/2011 - Yves Smith

Ooh, this is ugly.

The charge made in this Anonymous release (via BankofAmericaSuck) is that Bank of America, through its wholly-owned subsidiary Balboa Insurance and the help of cooperating servicers, engaged in a mortgage borrower abuse called “force placed insurance”. This is absolutely 100% not kosher. Famed subprime servicer miscreant Fairbanks in 2003 signed a consent decree with the FTC and HUD over abuses that included forced placed insurance. The industry is well aware that this sort of thing is not permissible. (Note Balboa is due to be sold to QBE of Australia; I see that the definitive agreement was entered into on February 3 but do not see a press release saying that the sale has closed)

While the focus of ire may be Bank of America, let me stress that this sort of insurance really amounts to a scheme to fatten servicer margins. If this leak is accurate, the servicers at a minimum cooperated. If they got kickbacks, um, commissions, they are culpable and thus liable.

As we have stated repeatedly, servicers lose tons of money on portfolios with a high level of delinquencies and defaults. The example of Fairbanks, a standalone servicer who subprime portfolio got in trouble in 2002, is that servicers who are losing money start abusing customers and investors to restore profits. Fairbanks charged customers for force placed insurance and as part of its consent decree, paid large fines and fired its CEO (who was also fined).

Regardless, this release lends credence a notion too obvious to borrowers yet the banks and its co-conspirators, meaning the regulators, have long denied, that mortgage servicing and foreclosures are rife with abuses and criminality. Here’s some background courtesy Barry Ritholtz:



More at http://www.nakedcapitalism.com/2011/03/wikileaks-whistleblower-charges-bofa-of-engaging-in-large-scale-force-placed-insurance-scheme-with-cooperation-of-servicers.html


===

http://ecx.images-amazon.com/images/I/41Juk%2B7TDbL._BO2,204,203,200_PIsitb-sticker-arrow-click,TopRight,35,-76_AA300_SH20_OU01_.jpg

ECONned: How Unenlightened Self Interest Undermined Democracy and Corrupted Capitalism
Yves Smith

Last year, after the 2nd time I sent Wells Fargo my insurance, they went out and bought me insurance.

I told them to get screwed, I wasn't paying it, that I had sent them proof twice already. I wound up not getting charged for it. I think.

Fucking morons!

(Good day.)
Oh, it's morning.
(Debt under Obama seems to jump up big then drop slowly maybe up a little and down a little for days--repeat.)
= Held by the Public + Intragovernmental(FICA)
= 9,551,255,398,880.23 + 4,612,177,672,255.04
DOWN 20,814,859,511.27 + UP 1,584,082,282.54

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 312-Million person America.
If every American, man, woman and child puts in $3.21 THAT'S 1B$, and $3,209.88 makes 1T$.
A family of three: Mom, Dad, Child: $9.63, ABOUT TEN BUCKS for a 1B$ federal program.
I hope that is clear. However, I'd suggest using $3 per 1B$ to underestimate it.
Use $4 per 1B$ to overestimate the cost when thinking: Is the federal program worth it?
Aid to Dependant Children: 2B$/yr =$8/yr(a movie a year) Family of 3: $24/yr(an hour of bowling)

PERSONALIZED DEBT:
Every 12 seconds we net gain another American, so at the end of the workday of the report, there should be 311,537,792 people in America.
http://www.census.gov/population/www/popclockus.html ON 10/04/2010 04:37 -> 310,403,677
Currently, each of these Americans owe $45,462.97.
A family of three owes $136,388.91. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 20 reports in the last 30 to 28 days.
The average for the last 20 reports is 4,004,365,252.65.
The average for the last 30 days would be 2,669,576,835.10.
The average for the last 28 days would be 2,860,260,894.75.
There were 252 reports in 365 days of FY2007 averaging 1.99B$ per report, 1.37B$/day.
There were 253 reports in 366 days of FY2008 averaging 4.02B$ per report, 2.78B$/day.
There were 75 reports in 112 days of GWB's part of FY2009 averaging 8.03B$ per report, 5.38B$/day.
There were 174 reports in 253 days of Obama's part of FY2009 averaging 7.33B$ per report, 5.07B$/day so far.
There were 249 reports in 365 days of FY2009 averaging 7.57B$ per report, 5.16B$/day.
There were 251 reports in 365 days of FY2010 averaging 6.58B$ per report, 4.53B$/day.
There were 111 reports in 161 days of FY2011 averaging 5.42B$ per report, 3.74B$/day.
Above line should be okay

PROJECTION:
There are 682 days remaining in this Obama 1st term.
By that time the debt could be between 15.1 and 17.7T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
03/10/2011 14,163,433,071,135.27 BHO (UP 3,536,556,022,222.19 so far since Obama took office.)

FISCAL YEAR DEBT CHANGE, Sep 30 prior year to Sep 30 named year:
(One "* " for each 40B$ reached)
FY1994 +0,281,261,026,873.94 ------------* * * * * * * WJC
FY1995 +0,281,232,990,696.07 ------------* * * * * * * WJC
FY1996 +0,250,828,038,426.34 ------------* * * * * * WJC
FY1997 +0,188,335,072,261.61 ------------* * * * WJC
FY1998 +0,113,046,997,500.28 ------------* * WJC
FY1999 +0,130,077,892,735.81 ------------* * * WJC
FY2000 +0,017,907,308,253.43 ------------WJC
FY2001 +0,133,285,202,313.20 ------------* * * C&B
01-WJC +0,053,598,528,417.78 ------------* WJC 31% of FY, 40% of FY-Debt
01-GWB +0,079,686,673,895.42 ------------* GWB 69% of FY, 60% of FY-Debt
FY2002 +0,420,772,553,397.10 ------------* * * * * * * * * * GWB
FY2003 +0,554,995,097,146.46 ------------* * * * * * * * * * * * * GWB
FY2004 +0,595,821,633,586.70 ------------* * * * * * * * * * * * * * GWB
FY2005 +0,553,656,965,393.18 ------------* * * * * * * * * * * * * GWB
FY2006 +0,574,264,237,491.73 ------------* * * * * * * * * * * * * * GWB
FY2007 +0,500,679,473,047.25 ------------* * * * * * * * * * * * GWB
FY2008 +1,017,071,524,649.92 ------------* * * * * * * * * * * * * * * * * * * * * * * * * GWB
FY2009 +1,885,104,106,599.30 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * B&O
09GWB +0,602,152,152,000.60 ------------* * * * * * * * * * * * * * * GWB 31% of FY, 32% of FY-Debt
09-BHO +1,282,951,954,598.70 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO 69% of FY, 68% of FY-Debt
FY2010 +1,651,794,027,380.00 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
FY2011 +0,601,810,040,243.50 ------------* * * * * * * * * * * * * * * BHO
Endof11 +1,364,351,954,589.30 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
02/17/2011 -011,510,944,063.77 -
02/18/2011 +000,193,465,100.84 ------------********
02/22/2011 +000,575,498,293.73 ------------******** Tue
02/23/2011 +000,604,643,024.49 ------------********
02/24/2011 -006,532,296,295.79 --
02/25/2011 +025,792,712,781.54 ------------**********
02/28/2011 +054,201,582,504.95 ------------********** Mon
03/01/2011 -002,977,641,960.04 --
03/02/2011 +000,044,996,229.28 ------------*******
03/03/2011 +008,400,855,808.94 ------------*********
03/04/2011 +000,116,571,384.45 ------------********
03/07/2011 +000,111,602,744.60 ------------******** Mon
03/08/2011 +000,276,984,022.19 ------------********
03/09/2011 +000,555,472,651.94 ------------********
03/10/2011 -020,814,859,511.27 -

49,038,642,716.08 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=4765329&mesg_id=4765368

(Good day.)
A big boy.
(Debt under Obama seems to jump up big then drop slowly maybe up a little and down a little for days--repeat.)
= Held by the Public + Intragovernmental(FICA)
= 9,552,087,457,389.01 + 4,612,272,903,889.84
UP 832,058,508.78 + UP 95,231,634.80

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 312-Million person America.
If every American, man, woman and child puts in $3.21 THAT'S 1B$, and $3,209.81 makes 1T$.
A family of three: Mom, Dad, Child: $9.63, ABOUT TEN BUCKS for a 1B$ federal program.
I hope that is clear. However, I'd suggest using $3 per 1B$ to underestimate it.
Use $4 per 1B$ to overestimate the cost when thinking: Is the federal program worth it?
Aid to Dependant Children: 2B$/yr =$8/yr(a movie a year) Family of 3: $24/yr(an hour of bowling)

PERSONALIZED DEBT:
Every 12 seconds we net gain another American, so at the end of the workday of the report, there should be 311,544,992 people in America.
http://www.census.gov/population/www/popclockus.html ON 10/04/2010 04:37 -> 310,403,677
Currently, each of these Americans owe $45,464.9.
A family of three owes $136,394.69. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 20 reports in the last 30 to 28 days.
The average for the last 20 reports is 4,082,381,947.20.
The average for the last 30 days would be 2,721,587,964.80.
The average for the last 28 days would be 2,915,987,105.14.
There were 252 reports in 365 days of FY2007 averaging 1.99B$ per report, 1.37B$/day.
There were 253 reports in 366 days of FY2008 averaging 4.02B$ per report, 2.78B$/day.
There were 75 reports in 112 days of GWB's part of FY2009 averaging 8.03B$ per report, 5.38B$/day.
There were 174 reports in 253 days of Obama's part of FY2009 averaging 7.33B$ per report, 5.07B$/day so far.
There were 249 reports in 365 days of FY2009 averaging 7.57B$ per report, 5.16B$/day.
There were 251 reports in 365 days of FY2010 averaging 6.58B$ per report, 4.53B$/day.
There were 112 reports in 162 days of FY2011 averaging 5.38B$ per report, 3.72B$/day.
Above line should be okay

PROJECTION:
There are 681 days remaining in this Obama 1st term.
By that time the debt could be between 15.1 and 17.7T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
03/11/2011 14,164,360,361,278.85 BHO (UP 3,537,483,312,365.77 so far since Obama took office.)

FISCAL YEAR DEBT CHANGE, Sep 30 prior year to Sep 30 named year:
(One "* " for each 40B$ reached)
FY1994 +0,281,261,026,873.94 ------------* * * * * * * WJC
FY1995 +0,281,232,990,696.07 ------------* * * * * * * WJC
FY1996 +0,250,828,038,426.34 ------------* * * * * * WJC
FY1997 +0,188,335,072,261.61 ------------* * * * WJC
FY1998 +0,113,046,997,500.28 ------------* * WJC
FY1999 +0,130,077,892,735.81 ------------* * * WJC
FY2000 +0,017,907,308,253.43 ------------WJC
FY2001 +0,133,285,202,313.20 ------------* * * C&B
01-WJC +0,053,598,528,417.78 ------------* WJC 31% of FY, 40% of FY-Debt
01-GWB +0,079,686,673,895.42 ------------* GWB 69% of FY, 60% of FY-Debt
FY2002 +0,420,772,553,397.10 ------------* * * * * * * * * * GWB
FY2003 +0,554,995,097,146.46 ------------* * * * * * * * * * * * * GWB
FY2004 +0,595,821,633,586.70 ------------* * * * * * * * * * * * * * GWB
FY2005 +0,553,656,965,393.18 ------------* * * * * * * * * * * * * GWB
FY2006 +0,574,264,237,491.73 ------------* * * * * * * * * * * * * * GWB
FY2007 +0,500,679,473,047.25 ------------* * * * * * * * * * * * GWB
FY2008 +1,017,071,524,649.92 ------------* * * * * * * * * * * * * * * * * * * * * * * * * GWB
FY2009 +1,885,104,106,599.30 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * B&O
09GWB +0,602,152,152,000.60 ------------* * * * * * * * * * * * * * * GWB 31% of FY, 32% of FY-Debt
09-BHO +1,282,951,954,598.70 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO 69% of FY, 68% of FY-Debt
FY2010 +1,651,794,027,380.00 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
FY2011 +0,602,737,330,387.10 ------------* * * * * * * * * * * * * * * BHO
Endof11 +1,358,019,293,773.41 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
02/18/2011 +000,193,465,100.84 ------------********
02/22/2011 +000,575,498,293.73 ------------******** Tue
02/23/2011 +000,604,643,024.49 ------------********
02/24/2011 -006,532,296,295.79 --
02/25/2011 +025,792,712,781.54 ------------**********
02/28/2011 +054,201,582,504.95 ------------********** Mon
03/01/2011 -002,977,641,960.04 --
03/02/2011 +000,044,996,229.28 ------------*******
03/03/2011 +008,400,855,808.94 ------------*********
03/04/2011 +000,116,571,384.45 ------------********
03/07/2011 +000,111,602,744.60 ------------******** Mon
03/08/2011 +000,276,984,022.19 ------------********
03/09/2011 +000,555,472,651.94 ------------********
03/10/2011 -020,814,859,511.27 -
03/11/2011 +000,832,058,508.78 ------------********

61,381,645,288.63 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=4769715&mesg_id=4769738

Patience will be rewarded this week. A lot of corporate and political career criminals will be toast, finally.

Does this mean we will avoid a revolution in this country? I think it's too early to tell. I'm going to be watching for abrupt and unplanned resignations and retirements. Expecting indictments is asking for too much...

So, it's Daylight Saving Time--with piles of snow still scattered about. I sure hope that form of fraud goes out with the rest of the trash. I hate it, and the older I get, the less my body wants to play games with my circadian rhythm.

"A lot of corporate and political career criminals will be toast, finally."

Why Adulterous Failed Banker Sir Fred Goodwin’s Covered-Up Workplace Affair is a Matter of Public Interest

http://www.nakedcapitalism.com/2011/03/why-adulterous-failed-banker-sir-fred-goodwins-workplace-affair-and-his-attempt-to-conceal-it-with-a-gagging-order-are-matters-of-public-interest.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+NakedCapitalism+%28naked+capitalism%29

I'll be spending it going around in circles...



http://www.piday.org/

Pi Day is a holiday commemorating the mathematical constant π (pi). Pi Day is celebrated on March 14 (or 3/14 in month/day date format), since 3, 1 and 4 are the three most significant digits of π in the decimal form. In 2009, the United States House of Representatives supported the designation of Pi Day.<2>

Pi Approximation Day is held on July 22 (or 22/7 in day/month date format), since the fraction 22⁄7 is a common approximation of π.<3> This date is also referred to as "European Pi Appreciation Day" because of the European practice of placing the day before the month....

http://en.wikipedia.org/wiki/Pi_Day

http://www.youtube.com/watch?v=VqpWETqoD5Q

http://www.youtube.com/watch?v=hJJJmQojcLM
This one is a scream--Parody on American Pie!

http://macrobusiness.com.au/2011/03/should-the-us-balance-its-budget/

YOUR ECONOMICS LESSON FOR THE DAY

The revelations will appear trivial.

The disaster in Japan may well accomplish what the bernank has been trying to do with QE, but at a rate akin to to a reactor core meltdown.

Japan will need to dramatically shift monetary policy to that of an importer from that of an exporter. This is not trivial. A stronger yen will pare the pain of rebuilding (somewhat) and will certainly push the U$D to new lows.

Will other foreign holders of US debt wait around to see how bad it gets, while Japan cashes out in order to raise capital? Smart money says they'll frontrun to the exits. Look for a dump of most asset classes, as the money moves to regions of the world where goods are actually built.

Gross couldn't have predicted the quake, but his timing was impeccable.

YMMV

What WWII did for the US: get them off their butts of gentile decline while maintaining the status quo. The Fat Cats will have to go on a diet while real problems get addressed.

It won't do anything for US, except maybe prevent some nukes from being built, which is a good thing. But look at how fast Obama opened up deep sea drilling already? The man is ineducable.

It's been that kind of day...

Genteel, gentile, gentle, it all works for me. ;)

"except maybe prevent some nukes from being built"

I'm hoping for that, especially since our state has just passed legislation to decommission the Vermont Yankee reactor. Meanwhile, the NRA has just authorized the plant re-licensing for another 20 years. I'm thinking this event could sway some opinion against keeping it going, with the existing leaks and all.

http://www.nytimes.com/2011/03/14/opinion/14krugman.html?_r=1&hp

MR. KRUGMAN THINKS THE PROPOSED FRAUDCLOSURE SETTLEMENT IS THE BEST WE CAN DO TO RIGHT WRONGS, I GUESS...

I HAVE THIS VISION OF BEN BERNANKE AS CAPTAIN AHAB...

http://news.yahoo.com/s/nm/20110313/bs_nm/us_economy_weekahead_outlook

WASHINGTON (Reuters) – Earthquake in Japan. Unrest in the oil-producing Arab world. Sovereign-debt strains in Europe. Inflation in China.

The expanding list of global economic troublespots will give the U.S. Federal Reserve even more reason to stay in wait-and-see mode at its policy-setting meeting on Tuesday.

Figuring out how these assorted risks might affect the U.S. economy is tricky. Take rising oil prices, for example. They pose both an inflationary threat and a risk to consumption and economic growth -- problems that pull the Fed in opposite policy directions.

As for the earthquake, economists' best guess is that it will hold back Japan's already sluggish economic output in the short term, although the global impact looks modest...

http://www.insider-magazine.com/ChristianMafia.htm

Something I found on the weekend, an "alternate" history of how we got here...haven't read it all yet, don't know if it suggests a way to get out of this.

It seems that Christianity does not conflict with a criminal occupation.

I clicked on the link and saw the name but can't remember what the context was in which he was discussed earlier, like years ago.



TG

Some people confuse antizionist with antisemitism.

http://www.nakedcapitalism.com/2011/03/this-is-how-qe-really-works.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+NakedCapitalism+%28naked+capitalism%29

ANOTHER ECONOMICS LESSON FOR TODAY

http://www.nakedcapitalism.com/2011/03/administration-acts-on-mortgage-fraud-against-military-denies-it-exists-anywhere-else.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+NakedCapitalism+%28naked+capitalism%29

AFTER ALL, IT IS THE MILITARY THAT WILL BE DEFENDING THE GOVERNMENT FROM OUTRAGED CITIZENS...

but today is gonna be crazier than usual...I'm gonna need pie, by the time it's all over...haven't even read through most of the stuff I put up here.

3/14/11 How To Transform The Number Pi Into A Song

Today is March 14 — aka 3/14, a date celebrated the world over as "Pi Day," after the irrational number. This year, to celebrate, musician Michael John Blake had the idea to compose, record and put on YouTube a musical interpretation of the most famous mathematical constant.

His approach? He decided the song would be in C, then assigned each note a number: C=1, D=2 and so on up through 9. Using those assignments, he played the sequence of Pi: 3.14159 through 31 decimal places. He assigned numbers to chords, too, but could only play the chords every other note and still make it sound vaguely musical.

Finally, he used Pi as the basis for the tempo — it's 157 beats per minute, which is half of 314. He played this part on several instruments, as you can see in the video above, and layered them to make a song. The result isn't exactly catchy, but it's certainly melodic.

"It's random enough to where it's kind of odd, but then, because it's all based in the major scale, it musically works out to where it's sort of pleasing to the ear," Blake says. "For me, it has this great combination of pleasant but also slightly weird — kind of haunting."

http://www.npr.org/2011/03/14/134492882/how-to-transform-the-number-pi-into-a-song


Direct link to song - What Pi sounds like.
http://www.youtube.com/watch?v=wK7tq7L0N8E&feature=player_embedded

http://www.reuters.com/article/2011/03/14/us-japan-quake-markets-volume-idUSTRE72D2PM20110314

(Reuters) - A massive selloff on the Tokyo Stock Exchange wiped out some 23.5 trillion yen ($287 billion) from the market's value on Monday with investors dumping stocks as the country recoiled from a devastating earthquake and struggled to avert nuclear disaster.

http://www.reuters.com/article/2011/03/14/markets-forex-idUSL3E7EE06Y20110314

OKYO, March 14 (Reuters) - The U.S. dollar rebounded from near record lows against the yen on Monday, boosted by hedge fund buying after the Bank of Japan's injected 7 trillion yen into the money market to help ease nervousness following Friday's massive earthquake and tsunami hit the country.