STOCK MARKET WATCH, Tuesday February 5

[ozymandius]

Source: du

STOCK MARKET WATCH, Tuesday February 5, 2008

COUNTING THE DAYS
DAYS REMAINING IN THE * REGIME 351
DAYS SINCE DEMOCRACY DIED (12/12/00) 2571 DAYS
WHERE'S OSAMA BIN-LADEN? 2297 DAYS
DAYS SINCE ENRON COLLAPSE = 2258
Number of Enron Execs in handcuffs = 19
ENRON EXECS CONVICTED = 10
Enron execs conveniently deceased = 3
Other Arrests of Execs = 54

---

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

---

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

AT THE CLOSING BELL ON February 2, 2008

Dow... 12,635.16 -108.03 (-0.85%)
Nasdaq... 2,382.85 -30.51 (-1.26%)
S&P 500... 1,380.82 -14.60 (-1.05%)
Gold future... 909.40 -4.10 (-0.45%)
30-Year Bond 4.37% +0.06 (+1.30%)
10-Yr Bond... 3.64% +0.04 (+1.19%)






GOLD, EURO, YEN, Loonie and Silver

---

PIEHOLE ALERT

Heads Up!
Preliminary info on appearances by Bush & Co. throughout the country. Details & links are added as they become available so check back. And if you know more, are organizing something, or would like to, contact [e-mail]

For information on protests and other actions Citizens For Legitimate Government

---

Read more: du

[ozymandius]

1. Market WrapUp: Stay the Course

The commodity bull market still fundamentally sound
BY TONY ALLISON

At the risk of sounding like a Dana Carvey parody of the first President Bush, I believe the concept of “staying the course” in commodity-related stocks is still the place to be in 2008. I promise not to refer to “a thousand points of light.” Wall Street is always looking for new flavors of the month to push, but that is not a reason to abandon the commodities sector, especially energy and precious metals.

We are likely to see great volatility in 2008. We may see a recession. We may see hedge funds pushing the panic button and selling everything with a bid, including energy and precious metals. But for patient investors, the tangible asset sectors will continue to be fundamentally attractive. Energy and other commodities are in a long term secular bull market, but will be subject to volatility and downdrafts, especially with the ongoing credit crisis roiling the markets.

Money Supply Expanding Globally

Money supply growth continues globally. Inflation is embedded in the system globally, not just in the US. We have managed to export our inflation internationally, as other central banks print to protect their currency and export markets. One can also see why the US conveniently discontinued its M3 money supply data. Most experts who follow global money supplies put the US M3 number at 15% and growing.

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

[Buttercup McToots]

65. I got a bad feeling...

Something wicked this way comes...:scared:

[AnneD]

77. Morning Marketeers.....

:donut:and lurkers.Happy Mardi Gras and Super Tuesday. You know the fire drill-go out and vote first then get you a Hurricane or other adult beverage (God knows that-no matter who is elected-we will all need a stiff drink). Here in Texas-we pulled out of Super Tuesday, which normally would be a bad thing-the party is over. But this year and these candidates mean they will have to campaign down here. That's a good thing-cause I have my own message to deliver this year.

The article brings up some good points. I want tangibles at this point...none of this investing in risk nonsense. That US M3 guess doesn't surprise any here.

I am sorry to get this posted so late. I started it early and things went to hell in a hurry. It is a crazy day to be a School Nurse. I never get emergencies that last over 2 hours. Everything is ok, but man what a morning. I need to get some coffee just to settle my nerves....

Happy hunting and watch out for the bears.

[ozymandius]

2. Today's Report

10:00 AM ISM Services Jan
Briefing Forecast 52.5
Market Expects 53.0
Prior 54.4

http://biz.yahoo.com/c/e.html

[UpInArms]

16. Services sector plummets unexpectedly: ISM survey - 41.9% vs 54.4% in Dec

08. U.S. Jan. ISM manufacturing index well below 53% consensus
8:56 AM ET, Feb 05, 2008 - 25 minutes ago

09. U.S. Jan. ISM services index 41.9% vs 54.4% in Dec
8:56 AM ET, Feb 05, 2008 - 25 minutes ago

http://www.reuters.com/article/bondsNews/idUSWEN379020080205

NEW YORK (Reuters) - The U.S. services sector retreated sharply in January, according to the Institute for Supply Management.

The industry group said on Tuesday its index of non-manufacturing plunged to 41.9 from 54.4 in December. Wall Street analysts had been looking for a much more moderate decrease to 53.0.

[UpInArms]

17. U.S. Jan. ISM nonmanufacturing index falls sharply to 41.9%

http://www.marketwatch.com/News/Story/Story.aspx?guid=%7B24088C92%2D8B80%2D47DE%2D933B%2DF83D48B7A6EC%7D

WASHINGTON (MarketWatch) -- Growth in the nonmanufacturing side of the U.S. economy contracted sharply, the Institute for Supply Management reported Friday. The ISM nonmanufacturing index fell to 41.9% in January from 54.4% in December. The reading was well below the 53.0% expected by economists. Readings below 50% indicate most firms are contracting. The ISM services index was released early. ISM gave no explanation for the early release.

[burf]

25. I can already hear the

talking heads spin this into the now famous "But you know we are not technically in a recession. To be a recession requires two straight quarters of negative growth". Then there will be the one about the fundamentals being strong and yada yada.

Have a good day everyone!

[question everything]

71. We lost 8% of our retirement funds in Janaury

(but regained half back last week.. we'll see).

Everything is going up, even fast food, not to mention cable and gym fees.

It may not be a recession in the technical sense but it is providing hardship.

But then, I am un-American. I do not go shopping just for the fun of it.

[Pale Blue Dot]

97. I think, unfrotunately, you gave back last week's gains today.

I'm sorry. :hug:

[question everything]

137. Yup, and this is only Tuesday (nt)

[Roland99]

33. "It was the largest one-month drop in the index history"

ouch.

[Hugin]

36. We've been having lots of these 'firsts' lately...

Not a good trend, IMHO. :concerned:

[Robbien]

35. ISM released early on concern of data breach

NEW YORK (Reuters) - The Institute for Supply Management on Tuesday said it released its nonmanufacturing index data ahead of schedule because of concerns that the data may inadvertently have been released early.

"We had a possible breach very late yesterday. We are not even sure there was one, but to be on the safe side we wanted to release the report before the markets opened today," said Andrea Waas, vice president, business and public relations, at ISM.

The index data was released at 8:55 a.m. ET. It was originally scheduled for a 10:00 a.m. ET release.

http://www.reuters.com/article/economicNews/idUSN0510532720080205

What is really disturbing is that the prices index in this report is at 70.7 while all new jobs and new orders are in the low forties.

Increasing prices with no one with the cash to buy them.

[ozymandius]

3. Oil drops below $90 on recession fears

SINGAPORE - Oil prices retreated Tuesday, dragged down by persistent concerns about the U.S. economy as stock markets declined.

"The market is in uncertain territory as worries about the economy in the U.S. continue to weigh — it's unclear how deep the recession will be, if there is a recession," said Victor Shum, an energy analyst with Purvin & Gertz in Singapore.
.....

Energy investors often view stocks as a proxy for economic growth, and in some recent sessions, movements in the oil market have closely followed that of global equities.

Light, sweet crude for March delivery lost 43 cents to $89.59 a barrel in Asian electronic trading on the New York Mercantile Exchange by late afternoon in Singapore.

The contract rose $1.06 to settle at $90.02 a barrel on Monday after the U.S. government reported strong data on factory orders, raising hope that the world's largest economy will dodge a recession that would curtail demand for energy.

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

[Demeter]

10. Well, then, Oil Has Nowhere to go but Down

Unless Bush does manage to pull off an attack on Iran....

[ozymandius]

4. Toyota profit rises 7.5 percent on year

TOKYO - Toyota's profit for the October-December quarter rose 7.5 percent from the previous year as booming sales in China, Africa and South America offset declining U.S. sales and a stronger yen.

The Japanese automaker — in a neck-and-neck race against General Motors Corp. for the top spot in global vehicle sales — sold 2.281 million vehicles in the fiscal third quarter, up 5.8 percent from the same period a year ago, it said Tuesday.

The maker of Prius gas-electric hybrids and Corolla subcompacts kept its sales forecast for the fiscal year through March unchanged at 8.93 million vehicles, up 4.8 percent from the previous fiscal year, saying that market growth in new markets will make up for weaker-than-expected vehicle sales in the U.S., Europe and Japan.

Toyota Motor Corp. also left its profit projection at 1.7 trillion yen ($15.91 billion) for the fiscal year on 25.5 trillion yen ($238.61 billion) in sales.

http://news.yahoo.com/s/ap/20080205/ap_on_bi_ge/earns_japan_toyota

[ozymandius]

5. Boston Scientific 4Q posts $458M loss

BOSTON - Costs from Boston Scientific Corp.'s $27 billion acquisition of Guidant Corp. nearly two years ago continue to erode the medical device maker's bottom line.

Boston Scientific swung to a $458 million fourth-quarter loss, as short-term costs from steps to reduce acquisition-related debt and cut jobs obscured an overall sales gain.

The Natick-based company said Monday that its net loss for the October-December period equaled 31 cents per share. In the same quarter a year earlier, Boston Scientific posted a profit of $277 million, or 19 cents per share.

http://news.yahoo.com/s/ap/20080205/ap_on_bi_ge/earns_boston_scientific

[ozymandius]

6. Chrysler closes plants in dispute with supplier

DETROIT (Reuters) - Chrysler LLC closed four U.S. assembly plants on Monday and may be forced to shutter the rest of its global assembly operations shortly due to a dispute with supplier Plastech Engineered Products Inc, which filed for bankruptcy court protection.

The bankruptcy has so far not affected Plastech's other customers, including General Motors Corp (GM.N), Ford Motor Co (F.N) and Toyota Motor Corp (7203.T).

Chrysler, which terminated all its contracts with Plastech on Friday due to the supplier's "ongoing financial struggles," said in documents filed with the U.S. Bankruptcy Court in the Eastern District of Michigan that it may be forced to quickly close 12 assembly plants around the world because the supplier was no longer shipping parts to the Chrysler plants.

The automaker's plants operate on a "just-in-time" basis, where parts are shipped as needed so any disruption would be immediately felt.

http://news.yahoo.com/s/nm/20080204/bs_nm/chrysler_dc

[InkAddict]

30. In other new automotive news:

http://www.daytondailynews.com/n/content/oh/story/business/2008/02/05/ddn020508gmweb.html

GM to invest millions in Moraine plant

MORAINE — General Motors has announced it plans to invest $69 million in the DMAX diesel engine plant here.

The money will go for a new diesel engine designed to meet 2010 U.S. emissions standards.


http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3169579

Ford may build Verve in Mexico
Sources identify plant, but firm won't say

Two people with knowledge of Ford's production plans said the car is slated to be assembled in Cuautitlan, Mexico.

They did not want to be identified because the automaker has not yet publicly disclosed its decision.

more...

Edited for addition

[ozymandius]

7. Hong Kong Stock Index Drops 0.9 Percent

HONG KONG — Hong Kong's benchmark index dropped Tuesday, matching the overnight decline on Wall Street, as investors sold Chinese financial stocks that rose sharply in the previous session.

The blue chip Hang Seng Index fell 223.38 points, or 0.89 percent, to close at 24,808.70.

Traders said they expect the index to rebound in the near term on expectations that China will relax its credit tightening measures to help its economy recover from the worst snowstorms in decades.

http://www.chron.com/disp/story.mpl/ap/fn/5513724.html

[Ghost Dog]

52. Asian Stocks Fall on Earnings Concern

Feb. 5 (Bloomberg) -- Asian stocks fell for the first time in four days as lower profit forecasts from Yamaha Motor Corp. and Olympus Corp. and a downgrade of Posco fueled concern regional earnings growth will slow.

Olympus, Japan's third-largest maker of digital cameras, plunged the most in six years after joining more than a dozen Asian companies that have forecast lower profit in the past week. Posco, Asia's third-largest steelmaker, slid after Goldman, Sachs & Co. advised selling the stock as global growth slows.

``Investors have to become cautious,'' said Toru Kitani, who manages about $2.8 billion in Japanese equities at Sompo Japan Asset Management Co. in Tokyo. ``Companies are clearly losing earnings momentum.''

The MSCI Asia Pacific Index lost 0.7 percent to 147.22 at 5:20 p.m. in Tokyo, halting a three-day, 5 percent rally that lifted the benchmark yesterday to the highest since Jan. 15. Mitsubishi Rayon Co. posted the biggest drop on the benchmark, after slashing its annual profit estimate by 30 percent.

Japan's Nikkei 225 Stock Average slipped 0.8 percent to 13,745.50. The S&P/ASX 200 Index declined in Australia, where the central bank raised interest rates to an 11-year high today. Benchmarks retreated in most other markets open for trading.

China's CSI 300 Index, which had a record jump yesterday, fell 0.6 percent on its last day of trading before the Lunar New Year holiday. Taiwan is already closed. Industrial & Commercial Bank of China Ltd. fell after the Xinhua News Agency reported the bank will make a provision for investments tied to U.S. subprime securities.

/... http://www.bloomberg.com/apps/news?pid=20601080&sid=aOdQSk3WrHbs&refer=asia

[Ghost Dog]

53. Japan Stocks Fall on Olympus, Yamaha Motor Profit Forecasts

Feb. 5 (Bloomberg) -- Japanese stocks fell after Olympus Corp. and Yamaha Motor Co. predicted lower earnings, citing a slowdown in U.S. sales.

Olympus, Japan's third-biggest maker of digital cameras, slumped the most in almost six years, while Yamaha, the world's No. 2 motorcycle maker, declined the most in a quarter century. Mitsubishi Estate Co., Japan's No. 2 developer, sent real- estate shares tumbling after it reported a drop in net income.

The Nikkei 225 Stock Average lost 114.20, or 0.8 percent, to 13,745.50 at the close in Tokyo, while the broader Topix index declined 9.24, or 0.7 percent, to 1,355.48.

``Companies are clearly losing earnings momentum,'' said Toru Kitani, who manages about $2.8 billion in Japanese equities at Sompo Japan Asset Management Co. in Tokyo. ``It's very likely more and more businesses will report lower profit next fiscal year, and investors have to become cautious.''

/... http://www.bloomberg.com/apps/news?pid=20601101&sid=aMIQClSWXgV8&refer=japan

[ozymandius]

8. US Probes Into Societe Generale Losses

PARIS — U.S. prosecutors are investigating staggering trading losses at French banking giant Societe Generale, the bank said Tuesday.

Societe Generale is already the subject of several investigations in France into its announcement Jan. 24 that it lost euro4.82 billion (US$7.09 billion) in cleaning up unauthorized transactions by a single futures trader.

Societe Generale's New York branch was contacted on Jan. 25 by the U.S. Attorney's Office for the Eastern District of New York, bank spokeswoman Laura Schalk said.

She said the bank was cooperating fully with the investigation, but would not elaborate on the focus of the probe.
.....

Societe Generale is also facing questions about its future, amid speculation it could be bought out or broken up. The trading debacle came on top of losses at the bank linked to the subprime mortgage crisis in the United States.

http://www.chron.com/disp/story.mpl/ap/fn/5513671.html

[UpInArms]

15. SEC probes SocGen director's sales

http://news.yahoo.com/s/ap/20080204/ap_on_bi_ge/societe_generale_us_probe

WASHINGTON - The Securities and Exchange Commission is examining stock sales by an American board member of Societe Generale, The Wall Street Journal reported Monday.

The SEC inquiry, an expansion of one by French regulators, is investigating stock sales investor Robert Day and two foundations linked to him made days before the bank announced a $7 billion loss caused by a rogue trader. A spokesman for Day said he had promised to cooperate with any investigations.

In a story on its Web site, The Journal cited unnamed people familiar with the matter.

The Journal also said the U.S. attorney's office in Brooklyn, N.Y., had launched criminal investigation related to Societe Generale, citing a person familiar with the matter, saying its precise focus wasn't immediately clear.

...more...

[ozymandius]

9. Stimulus plan may not lead to many new jobs

NEW YORK (CNNMoney.com) -- Most economists agree that the stimulus package now working its way through Congress will boost the economy.

How many jobs it will create, however, is up for debate.

The Bush administration has estimated that the stimulus package will add 500,000 jobs to the economy.

.....

President Bush and other politicians argued Friday that the drop in employment is further reason to pass the $150 billion stimulus plan, which is equal to about 1% of the nation's gross domestic product (GDP).

The thought is that if consumers have more money to spend once they get their rebate checks later this summer, some businesses, especially retailers, will need to hire new staff to deal with increased demand.

.....

Jared Bernstein, an economist with the Economic Policy Institute, a progressive Washington think tank, said that although tax rebates in 2001 played a role in lessening the length and severity the last recession, the economy still ended up "with a pretty painful jobless recovery."

http://money.cnn.com/2008/02/04/news/economy/stimulus_jobs/index.htm?postversion=2008020412

[AnneD]

14. Soooooo.....

Instead of bread and circus'....we just get peanuts.

[Hugin]

19. Anyone else notice...

The amount cut from Medicare/Medicaid was approximately equal to the amount of the
'economic coke snort package'?

[UpInArms]

21. and here I thought that was the amount added to the bloated defense budget

:freak:

[Hugin]

23. Naw, that increase was only the 20% profit increase promised to...

the Dubai based Halliburton... Inc. ;)

:freak:

[UpInArms]

24. Study: Rebates to be applied to debts

http://money.cnn.com/2008/02/05/news/economy/rebate_survey/index.htm

NEW YORK (CNNMoney.com) -- Americans who would receive a tax rebate under Washington's proposed economic stimulus legislation are most likely to use their rebate money to pay down debt, according to a consumer survey.

The UBS Securities-commissioned survey released by the International Council of Shopping Centers, Inc. found that 43% of the 1,000 surveyed Americans would pay off debt, while 26% said they would save the money and only 24% said they would spend it.

"Consumers see this tax rebate program similar to earlier ones and will act in a similar fashion using the lion's share of the rebate money for debt relief," said Michael P. Niemira, chief economist and director of research for ICSC in a statement.

<snip>

The proposed legislation would return $600 to tax-paying individuals that earn under $75,000 annually and $1,200 to couples who make less than $150,000 as part of an economic stimulus plan.

...more at link...

[Neshanic]

34. They had to do a study for that?

[wordpix]

46. How about creating real economic growth through solar, wind, and biomass energy projects on

a mass scale? Also through public transportation infrastructure projects like high speed rail, modernizing the crumbling mass transit systems that already exist, etc. We need jobs, clean manufacturing and fix our infrastructure, not $600/each.

[Hugin]

49. You see, wordpix...

What you propose would make SENSE... A word not in these people's vocabulary. (Not that I've seen anyway.)

[Demeter]

57. You Mean, Employ American Citizens In Manufacturing?

Creating real wealth and real jobs? Are you crazy?

[kineneb]

78. nah, they would not do that

it interferes with their plan to make this a cheap-labor third-world fascist police state.

(geez, that is depressing)

[Hugin]

84. Probably why it's called a 'Depression'...

Only a guess. :shrug:

[WhiteTara]

138. nifty little taxpayer payment to the cc companies, no?

:shrug:

[DemReadingDU]

11. Healthcare fraud trial in Columbus, Ohio - Day 1

2/5/08 Sifting thru 250 potential jurors for National Century trial begins

some snippets...

Half of the 250 potential jurors packed Federal Judge Algenon L. Marbley's courtroom for the beginning of jury selection.

The jurors were asked how much they read and saw, and whether they thought they could be unbiased.

The prospective jurors had come from all over central and southern Ohio. Some told the judge of having an hour commute each way.

One potential juror said he was a former WorldCom employee and part of a civil suit over pensions that employees lost. Marbley did not dismiss him from consideration.

Marbley said defense attorneys and prosecutors are looking to seat 16 people who can devote time and impartiality to the trial, which could last two months.

more...
http://www.dispatch.com/live/content/business/stories/2008/02/05/NatCen05.ART_ART_02-05-08_C12_9I98OUC.html?sid=101

Additional info from Monday's thread
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=3168377&mesg_id=3168470

[UpInArms]

12. dollar watch

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

Last trade 76.011 Change +0.680 (+0.89%)

Euro Dives as Data Suggests Slowdown Has Spread

http://www.dailyfx.com/story/bio2/Euro_Dives_as_Data_Suggests_1202210229511.html

The EURUSD tumbled more than 100 points in active overnight trade as a key gauge of service activity in the Euro zone registered its worst reading in more than 4 years suggesting that the economic slowdown may be spreading its way across the Atlantic. The PMI Services survey slipped to 50.6 from 52.0 expected while the German component of the index actually broke below the 50 boom/bust level printing at 49.4.

The sharp drop in PMI played straight into the hands of the euro bears, supporting their argument that the ECB will not be able to remain hawkish much longer and will have to follow the Fed by lowering rates relatively soon. It remains to be seen if Mr. Trichet will maintain his hawkish posture at this Thursday’s ECB press conference given tonight’s troubling data. If he does hint that the downside risks have increased, the EURUSD could come in for more selling as traders begin to discount possible future ECB rate cuts that would quickly eliminate euro’s interest rate advantage over the dollar.

However, we remain skeptical that Mr. Trichet will change his course so soon, preferring instead to remain stationary for the time being. The ECB tends to be more deliberative that the Fed and will likely require several more data points to be convinced of the need for a more accommodative monetary policy. Furthermore, the ECB policymakers may decide that the recent decline in the EURUSD may be simulative enough to the export centric region.

In the meantime, news out of the UK was considerably more positive as PMI Services beat forecasts coming in at 52.5 versus 52.0 projected. The latest results, however, are unlikely to persuade UK monetary authorities to remain stationary, with most of the market participants forecasting a 25bp cut this Thursday. Nevertheless, after been pummeled by shorts for the better part of the past two months over fears that a 50bp cut was imminent, cable may actually see a relief rally ever if the BoE lowers rates by only 25bp.

...more...

US Fed: Is the Rate Cut Cycle Over Yet?

http://www.dailyfx.com/story/topheadline/US_Fed__Is_the_Rate_1202215947233.html

Following 125bps worth of rate cuts within two weeks, US stock markets have recovered quite a bit. However, that doesn’t necessarily mean the Federal Reserve is in the clear. Indeed, US economic data continues to deteriorate, as January non-farm payrolls unexpectedly fell negative while consumer confidence has turned increasingly pessimistic and personal spending has softened. As a result, fed fund futures are pricing in a 74% chance of another 50bp cut next month, but there are signs in the FOMC policy statement from last week that the central bank may moderate their aggressive policy actions. The most glaring indication is the dissent by Dallas Fed President Richard Fisher, who is known to be quite hawkish. With price pressures remaining persistent, additional increases in CPI and other inflation reports could prevent other members from voting for another round of rate cuts as well. Meanwhile, the FOMC added a sentence noting that their policy actions should help “promote moderate growth over time,” suggesting that they may have their economic concerns covered for now. Nevertheless, should economic data worsen or financial markets destabilize once again over the next few weeks, there is little doubt the FOMC will order additional reductions in the fed funds and discount rates.

...more...

[UpInArms]

13. US STOCKS-Futures hit by economic fears, Goldman drops

http://www.reuters.com/article/bondsNews/idUSN051647620080205?sp=true

NEW YORK, Feb 5 (Reuters) - U.S. stock index futures fell on Tuesday as investors fretted about the U.S. economy and brokerage downgrades of companies, including Goldman Sachs & Co (GS.N: Quote, Profile, Research), added to concerns about the financial sector.

The drop in futures followed losses in Europe where indexes extended their slide as shares of banks fell. Asian markets also declined overnight.

News that services growth in the euro zone decelerated sharply in January raised fears that a U.S. slowdown may be spilling over into Europe, raising global recession fears.

Other data showed euro zone retail sales fell unexpectedly in December pointing to a steady decline in consumer demand.

Financial shares were set to fall at the start of U.S. stock trading after a brokerage downgrade of Goldman Sachs.

Shares of the investment bank fell 1.5 percent to $197.80 before the bell.

...more...

[DemReadingDU]

18. Why Study any Detail about the New Deal, or FDR?

2/4/08 another posting by Sara who writes at The Next Hurrah

some snippets

One thing that is quite clear -- Americans don't know a whole lot about their own History. And in many cases, what they do know, is distorted in very interesting ways.

Over the past several decades we have been told that Government can't actually accomplish all that much, particularly big Government. Everything needs to be under private contracts -- business models and all the rest. Not for Profit Public Model very Bad, and For Profit Business Excellent. I ask -- would the private sector have created a polio vaccine that cost pennies, and was denied no one on account of price, and quickly became universally available through Public Health Officials?

FDR was always curious as to what actually caused the Great Depression, and during his early years in office, while inventing programs right and left to deal with the consequences, he kept asking for research.

I do not necessarily favor re-creating New Deal style programs -- though I also do not necessarily oppose that -- what I do think is important is working to reject the notion that Government, big or little, is necessarily bad. Part of that is understanding that FDR's programs did work in many ways. They didn't solve all problems, but they also did not all fail. Equally important is understanding how the campaign against "Big Government" has been a shotgun approach to negating the idea that Government can actually do good things for the common interest. Too many voters do not comprehend the counter argument to that point. Too little history of what was changed by "Big Government" policy of that earlier era has survived as comprehended or taught history.

more... (there is interesting duologue to read in the comments)
http://thenexthurrah.typepad.com/the_next_hurrah/2008/02/why-study-any-d.html


this is a continuation of Monday's thread...
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3168377#3168522

[Hugin]

22. Good.

Nice to read some analysis of the 'New Deal'.


Lately, I've had the biggest urge to smack anybody who says "Government should be run as a business"... :blush:
But, ah... My gentle loving side prevails and I just scream.. "WHY NOT RUN GOVERNMENT AS A GOVERNMENT? HAVEN'T
TRIED THAT LATELY, FELLAH!" in their face with a cascade of spittle. *sigh* Soon, I may not be able to control
myself. :scared:

[TalkingDog]

26. I have the same response to: I paid my tution, you work for me...

why aren't you up there entertaining me instead of making me learn?

Since they are college students and no longer have, what my mother called, "tender ears", I can tell them quite frankly: Don't like it? Nobody is forcing you to sit there. Stay or leave, I don't give a fuck. I get paid either way.


My Favorite Master Artist: Karen Parker GhostWoman Studios

[Hugin]

28. Well, I for one find you very entertaining...

:D


Particularly, about trucks.

But, I understand your plight. I have emphasized to any youngster within earshot that their primary and
secondary educations are quite possibly the only 'free' thing they'll ever receive in life, so make the most
of it. After that... They're paying for anything they learn and if I'm paying the tab they'll darn well LEARN...
and like it. :smugexpression:

[Demeter]

58. Let Yourself Go, Prag

I'll join you. I've been so depressed by Edwards' withdrawl,I'll lash at out anyone for free.

[AnneD]

85. Demeter....

:hug:
It hit a lot of us hard.....:grouphug:


An interesting thing about Democrats, Economics in general, and this thread in particular.
All my voting life-since Nixon was first voted in-I have had it pounded into my head that Democrats are fiscally irresponsible, tax and spend, etc. I believed it at first and I rationalized it by saying to my self....well at least they spend it on social programs. I noticed the debt-but because the GOP was in charge-I figures they were doing ok by the economy. Clinton forced me to think about how the Dem's viewed money. Ya know...I realized you could be socially responsible AND balance the books.

What George Bush did was completely shred the last bit of credibility in Economics that the GOP has for the next 2 generations. When they start trying to paint DEM's (via congress) in that corner again-we need to throw it back. We need to raise taxes-no 2 ways about it. They know it, we know it. and the American people know it. We will have to have fiscal discipline to clean up after this GOP president.

The fact that, on a Democratic website, we have a daily thread that is devoted to gathering economic data, discussing to social factors of wealth, the implications of poverty, and the Government's role would seem an anomaly. Even in disagreement there is respect for each other and economic principals. This just shoots the whole tax and spend liberal philosophy out of the water. We have fretted the deficit for years now in additions to the irresponsible manner of our current government more than ANY of my GOP friends. In fact they seem embarrassed when I bring it up (which tells me that they know I am right, even if they won't acknowledge.

So here's to all us 'financially challenged' DEM's protecting our :dem:ets. We will hold on to ours longer than these folks will theirs-and have a more enjoyable life in the process.

[kineneb]

81. Gov. run like a business? Oh, like Enron and WorldCom, eh?

...actually seems they are doing just that, complete with the "magical thinking" bookkeeping...

-spouse of former WorldCom employee
:mad:

[Hugin]

83. Yup, it's really happening...

Sad to say.

But, first came the set-up... Where they cut Gov. services to the bone so they could point their
grizzled greedy conflict-of-interested fingers and yell, "LOOK... LOOK... Government can't do anything!"

This is the final result of the Reagan Revolution.

[UpInArms]

20. 9:32 EST sending the SOS to the PPT

Dow 12,505.01 130.15 (1.03%)
Nasdaq 2,347.54 35.31 (1.48%)
S&P 500 1,363.43 17.39 (1.26%)
10-Yr Bond 3.546% 0.097

NYSE Volume 90,685,929.688
Nasdaq Volume 80,735,398.438

value: -21.4. Nasdaq futures vs fair value: -30.2. The futures market has taken a noticeable dip after the January ISM Services Index level of non-manufacturing business activity checked in at 41.9 versus the consensus estimate of 53.0 and the December reading of 54.4. The scope of the decline is surprising (and questionable) seeing how this survey never moves more than a couple of points. In any event, the headline has exacerbated the negative tone.

08:30 am : S&P futures vs fair value: -8.3. Nasdaq futures vs fair value: -10.5. It is still shaping up to be a lower start for the stock market. Crude oil is down 1.0% to $89.11 per barrel.

08:02 am : S&P futures vs fair value: -21.4. Nasdaq futures vs fair value: -30.2. The futures market has taken a noticeable dip after the January ISM Services Index level of non-manufacturing business activity checked in at 41.9 versus the consensus estimate of 53.0 and the December reading of 54.4. The scope of the decline is surprising (and questionable) seeing how this survey never moves more than a couple of points. In any event, the headline has exacerbated the negative tone.

08:00 am : S&P futures vs fair value: -8.9. Nasdaq futures vs fair value: -13.0. Futures trade indicates a lower start for the stock market as traders take some more profits. Since yesterday’s close, earnings have overall been better than expected. The sole economic report is the ISM services, set for release at 10:00 ET.

[TalkingDog]

27. Dag! Looks like my theme song choice for today was spot on:

Tom Petty and the HeartBreakers: Free Falling

She's a good girl, loves her mama
Loves Jesus and America too
She's a good girl, crazy bout Elvis
Loves horses and her boyfriend too

It's a long day living in Reseda
There's a freeway runnin' through the yard
And I'm a bad boy, 'cause I don't even miss her
I'm a bad boy for breakin' her heart

And I'm free, free fallin'
Yeah I'm free, free fallin'

All the vampires walkin' through the valley
Move west down Ventura Boulevard
And all the bad boys are standing in the shadows
All the good girls are home with broken hearts

And I'm free, free fallin'
Yeah I'm free, free fallin'
Free fallin', now I'm free fallin', now I'm
Free fallin', now I'm free fallin', now I'm

I wanna glide down over Mulholland
I wanna write her name in the sky
Gonna free fall out into nothin'
Gonna leave this world for a while

And I'm free, free fallin'
Yeah I'm free, free fallin'



My Favorite Master Artist: Karen Parker GhostWoman Studios

[Hugin]

29. Instrumental for today: "La vie en rouge"

No lyrics to an instrumental, silly. :crazy:

Great pick of "Free Falln'" TalkingDog! :thumbsup:


I wonder what the PPT will draw today? A truck?

[TalkingDog]

37. Looks like they're lining up a Dump Truck.

And "La vie en rouge", isn't that the one that goes: la la, lalalalaa, lala, lalalala? :silly:



My Favorite Master Artist: Karen Parker GhostWoman Studios

[Hugin]

39. Keep singing... and I'll see if I can key it out on the Wurlitzer.

My... That's a big dump truck. :o

[AnneD]

90. It does have lyrics (French and English)

LA VIE EN ROSE (French Lyrics)

Des yeux qui font baisser les miens,
Un rire qui se perd sur sa bouche—
Voilà le portrait sans retouche
De l’homme auquel j’appartiens.

Quand il me prend dans ses bras,
Il me parle tout bas,
Je vois la vie en rose.
Il me dit des mots d’amour,
Des mots de tous les jours,
Et ça me fait quelque chose.
Il est entré dans mon cœur,
Une part de bonheur
Dont je connais la cause.
C’est lui pour moi,
Moi pour lui dans la vie,
Il me l’a dit, l’a juré pour la vie.
Et dès que je l’aperçois,
Alors je sens en moi
Mon cœur qui bat.

Des nuits d’amour à plus finir,
Un grand bonheur qui prend sa place,
Les ennuis, les chagrins s’effacent,
Heureux, heureux à en mourir.

Quand il me prend dans ses bras,
Il me parle tout bas,
Je vois la vie en rose.
Il me dit des mots d’amour,
Des mots de tous les jours,
Et ça me fait quelque chose.
Il est entré dans mon cœur,
Une part de bonheur
Dont je connais la cause.
C’est lui pour moi,
Moi pour lui dans la vie,
Il me l’a dit, l’a juré pour la vie.
Et dès que je l’aperçois,
Alors je sens en moi
Mon cœur qui bat.

LA VIE EN ROSE (English translation)

Eyes that gaze into mine,
A smile that is lost on his lips—
That is the unretouched portrait
Of the man to whom I belong.

When he takes me in his arms
And speaks softly to me,
I see life in rosy hues.
He tells me words of love,
Words of every day,
And in them I become something.
He has entered my heart,
A part of happiness
Whereof I understand the reason.
It’s he for me and I for him, throughout life,
He has told me, he has sworn to me, for life.
And from the things that I sense,
Now I can feel within me
My heart that beats.

In endless nights of love,
A great delight that comes about,
The pains and bothers are banished,
Happy, happy to die of love.

When he takes me in his arms
And speaks softly to me,
I see life in rosy hues.
He tells me words of love,
Words of every day,
And in them I become something.
He has entered my heart,
A part of happiness
Whereof I understand the reason.
It’s he for me and I for him, throughout life,
He has told me, he has sworn to me, for life.
And from the things that I sense,
Now I can feel within me
My heart that beats.

I learned it in French first and then English. Our family has several generations of Edith Piaf fans.

edited to add-I don't want a Wurlitzer-I want either Louis Armstrong or Benny Goodman bands as backups.

[Hugin]

95. Very interesting...

I had only ever heard the Instrumental Version. :shrug:

Hey, all I've got is a rusty Wurlitzer and Elvis... (or at least someone who claims to -be- Elvis.
To be honest, I think she's pulling my leg. ;) )

[AnneD]

98. I am recouping from a cold...

and sound like Elvis (that's how I know I am getting better). Does that count?

[Hugin]

100. Sorry to hear you're under the weather...

:antiseptichug:

How's about instead of singing "La vie en rouge" we just declare tomorrow: Louie Armstrong day on the SMW?

Do you have any song to nominate?

[AnneD]

109. Louis Armstrong Day on SWT....

Not just one song, but a few well chosen....

In the morning....Hello Dolly.
mid morning....When the Saints Go Marching In
afternoon....What a Wonderful World
at the closing bell...Stardust.

I'm sentimental so Wonderful World and Stardust are my fav's.

Satchmo's last words...."I think I had a beautiful life. I didn't wish for anything that I couldn't get and I got pretty near everything I wanted because I worked for it."

He truly was a NOLA bona fide character.



Lyrics to Stardust-I think Hoagie Carmichael wrote it.

And now the purple dusk of twilight time
Steals across the meadows of my heart
High up in the sky the little stars climb
Always reminding me that we're apart

You wander down the lane and far away
Leaving me a song that will not die
Love is now the stardust of yesterday
The music of the years gone by

Sometimes I wonder why I spend
The lonely night dreaming of a song
The melody haunts my reverie
And I am once again with you
When our love was new
And each kiss an inspiration
But that was long ago
Now my consolation
Is in the stardust of a song

Beside a garden wall
When stars are bright
You are in my arms
The nightingale tells his fairy tale
A paradise where roses bloom
Though I dream in vain
In my heart it will remain
My stardust melody
The memory of love's refrain

[Hugin]

112. Very nice!

Great picks AnneD! :D


You sure know your Satchmo! (Hey, that rhymes!) :thumbsup:

[AnneD]

114. Louis....

would be proud...

[cosmicdot]

102. went to see Grace Jones

... just to hear her sing La Vie en Rose

http://www.youtube.com/watch?v=V2pQXZTpg3A&feature=related

[Hugin]

103. Wow...

:yourock:

Very cool.

[DemReadingDU]

124. Cool!

one of my sisters played accordian, probably 40 years ago :)

[antigop]

31. Election '08: Where the Street is putting its money

http://money.cnn.com/2008/02/04/markets/election_donors/index.htm

One of the most competitive presidential elections in years is also on track to become the most expensive election ever, according to OpenSecrets.org, the web site of the non-partisan Center for Responsive Politics.

And big publicly traded companies such as investment banks Lehman Brothers (LEH, Fortune 500) and Merrill Lynch (MER, Fortune 500) and tech leaders Microsoft (MSFT, Fortune 500) and Google (GOOG, Fortune 500) are among the largest contributors to the top candidates.

[wordpix]

41. where do these investment banks that have lost billions get the money to contribute so much?

:shrug:

[Roland99]

32. 10:12am - Ah-Oooga! Ah-Oooga!

Dow 12,430.88 -204.28
Nasdaq 2,351.69 -31.16
S&P 500 1,357.48 -23.34
10 YR 3.53% -0.11
Oil $88.64 $-1.38
Gold $892.00 $-17.40

[wordpix]

38. time to load up on stocks?

:scared:

[Roland99]

40. If you're brave and in it for at least 10 years!

[Neshanic]

42. Kramers buys last night. Financials and home builders? Waaaa?

[Hugin]

44. Why not... I'm sure my Stock Market Invested Retirement is...

:eyes:

[Neshanic]

45. Homebuilders? Not one I would like to be near.

[Hugin]

48. Well, buying right now wouldn't be MY choice...

However, in a Money Market Retirement Fund... I have no choice and that's exactly how these pirates like it. :eyes:

[JNelson6563]

43. Holy cannolli! Blood everywhere already!

Zowie.

[Roland99]

50. 11:13am - A little bit redder now..SELL! A little bit redder now... SELL!

Dow 12,392.84 -242.32
Nasdaq 2,343.23 -39.62
S&P 500 1,352.56 -28.26
10 YR 3.54% -0.10
Oil $88.30 $-1.72
Gold $893.00 $-16.40

[ramapo]

64. No problem

I heard on the radio coming in to work today that last week was the market's best in 5 years (or some such statistic). It always amazing how the media can turn shit into something you'd want to eat.

[DemReadingDU]

47. Whitney: George Bush Delivers the Horse's Head

2/4/08 George Bush Delivers the Horse's Head By Mike Whitney

Two weeks ago George Bush was sent on a mission to the Middle East to deliver a horse's head. We all remember the disturbing scene in Francis Ford Coppola's “The Godfather” where Lucca Brassi goes to Hollywood to convince a recalcitrant movie producer to use Don Corleone's nephew in his next film. The “Big shot” producer is finally persuaded to hire the young actor after he wakes up in bed next to the severed head of his prize thoroughbred. I expect that Bush made a similar “offer they could not refuse” to the various leaders of the Gulf States when he met with them earlier this month.

The media tried to portray Bush's trip to the Middle East as a "peace mission", but that just a smokescreen. In fact, three days after Bush left Jerusalem, Israel stepped-up its military operations in the occupied territories and resumed its merciless blockade of food, water, medicine and energy to the 1.5 million people of Gaza. Clearly, Bush had green-lighted the operations or Israel's aggression would have been seen as a slap in the face of the President of the United States.

So, what was the real purpose of Bush's trip? After all, he has no interest in peace or in honoring his commitment to resolve the Israeli-Palestinian crisis. So, why would he choose to visit the Middle East just as his second term as president is winding down and there is no chance of success?

Sometimes personal visits are important. They leave a lasting impression; especially when the nature of the information is so sensitive that the message has to be made face to face. In this case, Bush went to the trouble of traveling half-way around the world to tell the Saudis and their friends in the Gulf States that they were going to continue linking their oil to the dollar or they were going to “sleep with the fishes”.

read more...
http://www.informationclearinghouse.info/article19280.htm


edit to add more from the article...
So, how important is it that oil continue to be denominated in dollars? Would the United States wage war to defend the dollar's status as the world's “reserve currency”?

The answer to this question could come as early as this week, since the long-awaited Iranian Oil Bourse is scheduled to open between February 1-11. According to Iran's Finance Minister Davoud Danesh-Jafari “All preparations have been made to launch the bourse; it will open during the 10-day Dawn (the ceremonies marking the victory of the 1979 Islamic Revolution in Iran) The bourse is considered a direct threat to the continued dominance of the dollar because it will require that Iranian “oil, petrochemicals and gas” be traded in “non-dollar currencies”. (Press TV, Iran)

Additionally, within the last week, three of the main underwater cables which carry Internet traffic have been cut off in the Persian Gulf and three-quarters of the international communications between Europe and the Middle East have been lost. Large parts of the Middle East have been plunged into darkness.

Is this merely a coincidence or is something else going on below the surface?

[Demeter]

62. I'd Believe He Delivered a Horse's Ass

but I can't see W having any capital left to deliver a real threat. Unleashing Israel, yes, he could have done that (it would explain the cable sabotage). And he brought more toys for the boys--weaponry.

All it takes is one sharp yank of the leash made in China, and Bushis hanging high and dry. I wish.

[mnhtnbb]

51. Hulbert thinks bottom is near based on insider buying

http://www.marketwatch.com/news/story/insiders-betting-heavily-bull-market-rebound/story.aspx?guid=%7BF9CDDB9D%2D4A87%2D40F4%2DB2E5%2D167CC266477E%7D&siteid=yhoof

[Demeter]

63. Even Insiders Have Been Known to Be Wrong In Bear Markets

especially BIG bear markets.

[Roland99]

67. Someone on CNBC said the same thing last week

[Demeter]

54. Criminey! They Arent' Even Trying to Staunch the Blood Anymore

I knew it would be bad (how could it be otherwise?) but my oh my.

[Ghost Dog]

55. European shares lose 3 pct as US worries weigh

LONDON, Feb 5 (Reuters) - European shares fell 3 percent on Tuesday, led by financials, as U.S. indexes extended their fall after data suggested the U.S. economy may be at greater risk of recession.

The FTSEurofirst 300 index of top European shares fell to an intraday low of 1,314.83 points, marking a 3.1 percent decline on the day as U.S. stocks extended an earlier sell-off.

Bank stocks were the day's worst performers, hit by the growing prospect of U.S. recession and another round of broker downgrades. Banco Santander (SAN.MC: Quote, Profile, Research) lost 4.8 percent, HSBC (HSBA.L: Quote, Profile, Research) fell 2.3 percent and BNP Paribas (BNPP.PA: Quote, Profile, Research) fell 5.2 percent.

...

Around Europe, London's FTSE 100 index .FTSE slid 2.5 percent, while Frankfurt's DAX .GDAXI fell 3.4 percent and Paris' CAC 40 .FCHI lost 3.6 percent.

/... http://www.reuters.com/article/marketsNews/idCAL0584704020080205?rpc=44

[Ghost Dog]

56. Euro Falls Against Dollar, Yen as Rate of Services Growth Slows

Feb. 5 (Bloomberg) -- The euro fell the most against the dollar in two weeks after an industry report showed growth in Europe's service industries weakened, prompting concern the economy is being hurt by the slowdown in the U.S.

The euro declined against all but one of the 16 most-active currencies as European industries, the biggest part of the $10.5 trillion economy, expanded at the slowest pace in four years last month. The region's central bank will probably leave the benchmark interest rate at 4 percent this week, according to all 55 economists in a Bloomberg News survey.

The data ``may have given more of an impetus'' to the euro's slide, said Daragh Maher, senior currency strategist in London at Calyon, the investment-banking unit of Credit Agricole SA, France's second-largest bank. ``We're bearish on the euro,'' which may drop to $1.45 in three months.

The euro fell as much as 0.9 percent to $1.4703, the biggest loss since Jan. 21, and was at $1.4704 as of 10:15 a.m. in London, from $1.4830 in New York late yesterday. It fell 0.2 percent to 157.97 yen, from 158.26 yesterday.

/... http://www.bloomberg.com/apps/news?pid=20601101&sid=a.uD7cIDFgok&refer=japan

[Ghost Dog]

60. Euro should not carry burden of fx moves-Germany

BERLIN, Feb 5 (Reuters) - European countries do not want the euro alone to carry the burden of foreign exchange adjustments, German Deputy Finance Minister Thomas Mirow said on Tuesday.

"We don't want there to be abrupt developments and reactions on currency systems," Mirow told reporters at a briefing. "We don't want the burden of adjustment to have to be only carried by the euro."

Finance ministers and central bankers from the G7 economic powers are due to meet in Tokyo on Feb 9. The G7 comprises the United States, Japan, Germany, France, Britain, Italy and Canada.

/... http://www.reuters.com/article/marketsNews/idCAL0531171220080205?rpc=44

[Ghost Dog]

61. Euro= USD 1.470, GBP 0.747, CHF 1.618 and JPY 157.4 at this time

[mnhtnbb]

74. Damn. Going to Rome in April. Sure wish $ would gain some before then.

[poverlay]

86. Me too. Going in the fall. I have a bit more time, but will likely only gain pennies. If you have

any good advice, tips, etc, especially after you get back, I would love to hear them. Please message me if you think of anything.

~P

[AnneD]

120. A great place to stay while in Italy....

Check out the facilities at the local convents and monasteries. Long before there was a Hilton....travelers could find shelter at an monastery or convent. Rules vary but it is quite, clean, peaceful, inexpensive, and they usually through in a meal or two. Until I opened my mouth-it has been a well kept secret.

[DemReadingDU]

125. Like in The Sound of Music

:)

[AnneD]

133. Vespers maybe....

Broadway showstoppers....no.

[poverlay]

139. Thanks, but I have accomodations covered via RCI timeshare trading. It's the rest of it that I know

nothing about.

I'll keep that in mind for another time though.

Thx

[TrogL]

59. Loonie Watch

Highlights

Current:



30-day and 90-day vs.greenback:



30-day vs. Euro, Yen, UK Pound and Swiss Franc




Currency Comparison: http://members.shaw.ca/trogl/looniewatch.html

Detailed analysis: http://quotes.ino.com/exchanges/?r=CME_CD

Up-to-the-minute graph: http://quotes.ino.com/chart/?s=CME_CD.Y%24%24&v=s&w=5&t=l&a=1

Historical values http://www.x-rates.com/d/USD/CAD/data30.html

2007-12-25 Tuesday, December 25 1.01307 USD
2007-12-26 Wednesday, December 26 1.01688 USD
2007-12-27 Thursday, December 27 1.01958 USD
2007-12-28 Friday, December 28 1.02208 USD
2007-12-31 Monday, December 31 1.01204 USD
2008-01-01 Tuesday, January 1 1.01204 USD
2008-01-02 Wednesday, January 2 1.00786 USD
2008-01-03 Thursday, January 3 1.00959 USD
2008-01-04 Friday, January 4 1.0012 USD
2008-01-07 Monday, January 7 0.995025 USD
2008-01-08 Tuesday, January 8 1.0015 USD
2008-01-09 Wednesday, January 9 0.991768 USD
2008-01-10 Thursday, January 10 0.986291 USD
2008-01-11 Friday, January 11 0.980584 USD
2008-01-14 Monday, January 14 0.979432 USD
2008-01-15 Tuesday, January 15 0.983574 USD
2008-01-16 Wednesday, January 16 0.976753 USD
2008-01-17 Thursday, January 17 0.971817 USD
2008-01-18 Friday, January 18 0.97144 USD
2008-01-21 Monday, January 21 0.97144 USD
2008-01-22 Tuesday, January 22 0.9758 USD
2008-01-23 Wednesday, January 23 0.972573 USD
2008-01-24 Thursday, January 24 0.99295 USD
2008-01-25 Friday, January 25 0.995619 USD
2008-01-28 Monday, January 28 0.995818 USD
2008-01-29 Tuesday, January 29 1.0022 USD
2008-01-30 Wednesday, January 30 1.00644 USD
2008-01-31 Thursday, January 31 0.998203 USD
2008-02-01 Friday, February 1 1.00614 USD
2008-02-04 Monday, February 4 1.00735 USD

Current values

http://quotes.ino.com/exchanges/?r=CME_CD)

Market            Open   High    Low   Last  Change    Pct 
CD.Y$$ Cash     0.9994 0.9994 0.9933 0.9933 -0.0135 -1.34% 
CD.H08 Mar 2008 1.0011 1.0011 0.9925 0.9930 -0.0128 -1.27% 
CD.M08 Jun 2008 1.0030 1.0030        1.0041 +0.0004 +0.04% 
CD.U08 Sep 2008 0.9785 0.9785 0.9780 1.0022 +0.0006 +0.06% 
CD.Z08 Dec 2008 0.9750 0.9750 0.9750 1.0003 +0.0004 +0.04% 
CD.H09 Mar 2009 0.9810 0.9825        0.9988 +0.0008 +0.08% 
CD.M09 Jun 2009 0.9995 0.9995        0.9971 +0.0010 +0.10% 
 

Other combinations: (http://quotes.ino.com/exchanges/?c=currencies)

Market              Open    High     Low     Last    Change     Pct 
AUSTRALIAN $/CANADIAN $ (NYBOT:AS)
AS.H08 Mar 2008   0.8834                     0.8998  +0.0046   +0.53% 
AUSTRALIAN $/US$ (NYBOT:AU)
AU.H08 Mar 2008   0.9042                     0.9042  -0.0005   -0.06%  
CANADIAN $/JAPANESE YEN (NYBOT:HY)
HY.H08 Mar 2008   107.000   107.000  107.000 106.970 +0.245    +0.22%  
EURO/AUSTRALIAN $ (NYBOT:RA) 
RA.H08 Mar 2008   1.6642    1.6642   1.6642  1.6367  -0.0064   -0.38%  
EURO/BRITISH POUND (NYBOT:GB)
GB.H08 Mar 2008   0.74700   0.74770  0.74630 0.74580 -0.00635  -0.86%   
EURO/CANADIAN $ (NYBOT:EP)
EEP.H08 Mar 2008  1.48700   1.48700  1.48700 1.47245 +0.00185  +0.13%  
EURO/JAPANESE YEN (NYBOT:EJ)
EJ.H08 Mar 2008   157.75    157.78   157.24  157.24  -0.26     -0.16%   
EURO/US$ (SMALL) (NYBOT:EO)
EO.H08 Mar 2008   1.46640   1.46640  1.46640 1.46680 -0.01355  -0.92% 

Blather (from http://quotes.ino.com/exchanges/?r=CME_CD)

The March Canadian Dollar was lower overnight as it extends last week's trading range. Stochastics and the RSI are overbought but are neutral to bullish hinting that additional short-term gains are possible. If March extends the rally off January's low, the reaction high crossing at 101.67 is the next upside target. Closes below the 20-day moving average crossing at 98.80 would confirm that a short-term top has been posted. First resistance is last Wednesday's high crossing at 101.20. Second resistance is reaction high crossing at 101.67. First support is the 10-day moving average crossing at 99.62. Second support is the 20-day moving average crossing at 98.80.


Analysis

Everything was down overnight except the greenback so obviously something has happened affecting it rather than the loonie. Alberta is in election mode and voters appear to be eager for change. It appears to be going to be a real food fight. On the CBC drive-in show, they pointed out that Alberta has NO campaign ad rules. Somebody's already been running some anti-Stelmach "no plan" ads that appear to be having an effect. If the oil patch gets the impression that the new government will want to raise its share of the royalties, the loonie could be in for a rough ride.

[Dawggie]

66. What stocks are you following?

Or is this not a proper question here?

I have fun with the markets despite my stupidity and follow tech stocks because that's the only area I have any real feelings and experience with.

[Hugin]

68. I follow the 'Prag Index'...

A collection of odd and eccentric stocks which cover a range of my current and past interests...

But, it's pretty stable.

For entertainment I follow the major indexes. ;)

[Dawggie]

69. Taking a peek at it now. I'm not familiar with it. n/t

[Dawggie]

70. And I don't se it on a cursory examination of a few SEs....

:toast:

[Hugin]

73. I did say they were 'odd and eccentric'...

The Prag Index is known only to my 'Favorites list'...

However, I believe in doing my stock research from the ground (product) up (should I buy into this?)

Here's a place I often start:

http://peswiki.com/energy/Directory:Engines

Like you, I'm also interested in 'Techs'.

:toast:

[Dawggie]

89. Intersesting. I tend to go more towards semiconductores...

Which has been a roller coaster ride the past few weeks as it is at the moment I type.

Thanks for the link.

[fascisthunter]

72. "Hurry Up with Another Stimulus Package!"

meanwhile, back in reality, the poor get poorer and the debt the poor and what's left of the middle class grows exponentially. Thanks, GOP elites. We love serving your greedy needs... not!

[Roland99]

75. Maybe that's why Bob Dole is back in the news?

A little blue pill for our E.D. (Economic Downfall)

DJIA -274 now.

[Hugin]

76. Maybe ADM 'Supermarket to the World' smells the alcohol...

brewing.

http://www.prwatch.org/node/417

[AnneD]

122. One thing I do know...

there is a rebound period where know amount of stimulus works. It can be painful even....wait........which ED are we talking about.:blush:

[Roland99]

135. I don't know...I've managed to avoid suffering from an E.D.

I love my job! :evilgrin:

[Warpy]

79. Yow! Another 300 point fall?

Who made a speech, Greenspan or Stupid?

[Roland99]

80. 1:53pm - And *DOWN* the tubes they go....

Dow 12,332.93 -302.23
Nasdaq 2,325.78 -57.07
S&P 500 1,345.08 -35.74
10 YR 3.56% -0.08
Oil $88.70 $-1.32
Gold $891.50 $-17.90

[Viva_La_Revolution]

82. on CNBC blaming the IMS Services report

non-manufacturing plummeted to 41.9 from 54.4 in December, its largest monthly decline on record.

[uppityperson]

87. Thank you for doing these posts.

I often read them, rarely comment, but just wanted to say thank you.

[Hugin]

88. ~15:15 ET: Free Fallin'...

Index Last Change % change
• DJIA 12309.60 -325.56 -2.58%
• NASDAQ 2320.65 -62.20 -2.61%
• S&P 500 1342.30 -38.52 -2.79%

Looks like TalkingDog's crystal ball is in working order.

[Hugin]

91. ~16:00 ET: "So help me... I thought turkeys could fly!"

Index Last Change % change
• DJIA 12268.79 -366.37 -2.90%
• NASDAQ 2309.57 -73.28 -3.08%
• S&P 500 1337.33 -43.49 -3.15%

[Maeve]

99. Thanks for the best laugh I've had all day

Gallow humor, but a good laugh nonetheless...

Here on WKRP in Cincinnati....

[Hugin]

101. ...

You're welcome. :D

I've been saving it for a special occasion...

[Roland99]

106. Bravo! Well played!

[Lone_Star_Dem]

104. LOL!

The perfect quote for the situation. :rofl: :thumbsup:

[AnneD]

110. One of the best one liners ever written for televisions.....

or the market...:rofl:

[Jack Rabbit]

92. At 4 pm EST

Dow Jones Industrials: 12288.5 -346.62
NASDAQ: . . . . . . . . 2315.7 -67.17
S&P 500:. . . . . . . . 1339.5 -41.37

[RUMMYisFROSTED]

93. "People are voting for Democrats! People are voting for Democrats!"

[Jack Rabbit]

94. I don't know who that is supposed to be, but I doubt it's Wall Street

Wall Street is probably voting Demo this year.

[RUMMYisFROSTED]

96. Chicken Little.

[Roland99]

105. At the close - Biggest single-day % loss in a year

Dow 12,265.13 -370.03
Nasdaq 2,309.57 -73.28
S&P 500 1,336.64 -44.18
10 YR 3.59% -0.06
Oil $88.41 $-1.61
Gold $890.30 $-19.10

[Hugin]

107. Yeek...

It ended even a teenie bit worse than I had thought.

Must've been quite the surge in volume selling at closing.

[ozymandius]

108. Stunning. Simply stunning.

The numbers dropped on a descent beyond my wildest imaginings. I wonder if the PPT got drunk early.

[AnneD]

111. There's just not enough juice...

to bulk up the faeries anymore...Bennanke can't cut the interest rate anymore for a while.

[hatrack]

113. If so, do we get to watch Cramer's head explode on the tee-vee?

Gosh, I sure hope so!

:toast:

[ozymandius]

115. "Fly you damned turkeys! Fly!!" *kaboom*

[AnneD]

116. That is the reason...

most of us watch him. One day he's going to clutch his chest and that will be it. It's like watching a train wreck in slomo.:evilgrin:

[Hugin]

121. I'm betting they up his meds before that happens...

He'll spend the rest of his time drooling and nodding like most financial pundits.


*sigh* I guess it's time for another pool. :D

[AnneD]

123. Once it drops to the low 12200....

I'll post the pool numbers again. Bring your floaties tomorrow (no floaters please). It's pool day on the thread.YEAHHHHHHHHHH.

[ozymandius]

127. He is extremely high-strung. Would make for quite a show.

[high density]

117. Great buying opporunity

Why is it that nobody ever wants to buy equities at a discount? When it's roaring everybody is happy to pay high prices, but when it's low people suddenly develop this odd risk complex.

[ret5hd]

118. Jump on in there, big boy!

It won't be lower next week. This has got to be the bottom! Things are so rosy! I don't know what anybody would be worried about!

[high density]

119. I don't really care where it is next week

I care where it is in 2045.

[Karenina]

126. 2045?

In your DREAMS!

[ozymandius]

128. That's herd mentality for you.

It happens every time. I knew a bartender back in 1999 who claimed to be a "stock market expert" at the age of 20 and offered investment advice. Where was he in 2002? Still tending bar at the same place and working a second job: tending bar. He stopped talking so much about stocks then.

Euphoria is contagious and it claims its share of the over-confident. Conversely, those lacking confidence get swept away during the low times too.

[UpInArms]

129. I wish I could nominate this as "Best Thread Ever" on DU

because as I read through the thread at the end of the day (my power was off at least 5 of the past 6 hours), and every post was meaningful, heartfelt and without animosity toward their fellower DUers.

All I can add is:

I love you all.

:grouphug:

We shall make it through whatever is ahead of us together.

[ozone_man]

130. The kickoff to the super recession today.

I shudder to think what lies ahead. Charting new territory here, or at least territory not charted in 78 years. :)

[JNelson6563]

131. Amen my sister.

I have a special affection for the Marketeers and the Stock Market Thread. Always full of great info and respectful dialogue. A jewel in DU's LBN crown.

:toast:

Julie

[Theres-a]

132. Seconded.

:grouphug:

[AnneD]

136. Motion made....

that is exactly what I meant in an earlier post (85). This is truly a unique thread, evolving, the sum greater than it's parts. It is consistently good every day. My day is better for reading it. And what ever befalls us-we'll make it through.

[Roland99]

134. Risk of (Commercial) property defaults growing

http://www.ft.com/cms/s/0/ad13b090-d419-11dc-a8c6-0000779fd2ac.html?nclick_check=1

There is a growing risk of defaults on loans on commercial property this year, in a trend that could spill over into tumbling values and create more jitters in the credit world, analysts and bankers warn.

US property companies that took out big short-term loans to finance acquisitions in the past couple of years at low-interest rates are now struggling to refinance this debt, as banks curb lending and commercial property prices fall.

In recent days, Harry Macklowe, the New York developer, has failed to refinance $5.8bn in short-term loans he used to buy seven Manhattan office towers from Equity Office Properties last February. Deutsche Bank, which provided the loan, has taken control of the buildings and will put them up for sale, a person familiar with the matter said.

Analysts warn of a pattern that could spread. US commercial property prices have fallen 10 per cent in some markets since August, after rising more than 90 per cent since 2001, according to Real Capital Analytics.