STOCK MARKET WATCH, Monday August 2

[ozymandius]

Source: du

STOCK MARKET WATCH, Monday August 2, 2010

AT THE CLOSING BELL ON July 30, 2010

Dow... 10,465.94 -1.22 (-0.01%)
Nasdaq... 2,254.70 +3.01 (+0.13%)
S&P 500... 1,101.60 +0.07 (+0.01%)
Gold future... 1,183 -0.80 (-0.07%)
10-Yr Bond... 2.91 0.00 (0.00%)
30-Year Bond 3.99 0.00 (0.00%)

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Market Conditions During Trading Hours

Euro, Yen, Loonie, Silver and Gold

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    William Black: This Economic Disaster    Bill Moyers with Kevin Drum and David Corn

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

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

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

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This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.

Read more: du

[ozymandius]

1. Today's Reports

10:00 Construction Spending Jun
Briefing.com -0.4%
Consensus -0.8%
Prior -0.2%

10:00 ISM Index Jul
Briefing.com 53.0
Consensus 54.2
Prior 56.2

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

[Dr.Phool]

2. It's about time you got out of bed!

Good morning Oz!

[ozymandius]

4. ehhhh.... ungh...

Zombies awake!

G'morning Dr. Phool. :donut: :donut: :donut:

[AnneD]

16. Morning Marketeers...

:donut:and lurkers.

Am I overly sensitive? Have I told you how much I hate the Texas Board of Nurses. I have been a Nurse since 1991. Even been a Nurse in New Mexico. I hate that the BONE makes public our addresses. I say that because I feel that info should be private. There are cases of domestic abuse or God forbid a stalker or crazed ex psych patient. I have always kept a PO Box just for that reason. As a result I get lots of unwanted 'professional' mail. I received a notice that I would have to get fingerprinted in order to get my license renewed this year. I guess I am such a criminal risk that I have to be finger printed (Docs don't have to do this and I Have come across more crooked Docs than Nurses in this business). OK-I can deal with the finger printing, but they gave me all kinds of grief about wanting a physical address and insisted on me giving them a social security number. I immediately began asking them about security regarding my social security number and absolutely refused giving them a physical address due to the fact that they publish them. I mean, the school publishes my salary, the BONE publishes my address-I DON'T REMEMBER SIGNING UP TO LOSE THAT MUCH PRIVACY. When teachers got the ASPIRE bonus, creditors started harassing some and several teachers that had restraining orders on ex spouses had to relocate.

I understand the need to protect the public from the unscrupulous, but I don't think someone that has been a Nurse for 20 years (and a School Nurse for 16 years) is your problem. God help me suffer these fools. I just see this as another way to rip me off for more money because someone contributed to some politicians campaign. I hear it use to cost over $40 bucks but so many folks complained. The service I use now just costs under $10 now.

I will be busy today and school will start for teachers very soon now. It should be very interesting. I will be restricted to early morning posts. I won't even take the chance of posting on my breaks or lunch. (Just think of your bigger pay check Anne-this too shall pass)

Happy hunting and watch out for the bears.

[Warpy]

25. That's just incredible

It's bad enough there are online jerks who publish that stuff online (in my cases, multiple addresses and 6 years younger than I actually am, so maybe my stalker will stay gone) but having the Board publish that stuff is beyond belief.

Don't they KNOW? Is some nurse going to have to get killed by a crazy ass she's hiding from before they catch a clue?

This begs for a lawsuit. A resounding GFY should do in the meantime.

As for the fingerprinting, it's humiliating but not fatal. I was fingerprinted when I worked at NASA, the Fed and the VA, none of whom would accept a former set of prints. I don't know what the hell they expect to accomplish, since every nurse on the floor will leave her prints on the narc stash during the course of a day.

Of all the dumbasses in the world, the dumbest has got to gravitate toward being a bureaucrat.

As for today in the pit of the NYSE, I see a major drop in the buck has produced a flurry of early morning buying. I should check the portfolio fast so I can feel rich for five minutes before the inevitable roll downward starts.

[TalkingDog]

26. Not being flip here...but just lie.

give them a real addy,an empty business storefront or something, then go to the PO and fill out a change of address so that any mail coming there for you gets sent to your PO. Eventually it will expire and they won't have your real addy.

Probably not legal, but neither is requiring you to give your SS#.

[tclambert]

31. 1060 West Addison

"1060 West Addison? That's Wrigley Field."

[AnneD]

34. Oh oh....

I love the Cubbies. I just gave them my PO PERIOD. I keep waiting for a lawsuit to happen or some Nurse to get killed too. I know my ex used the sites to get my income to try to sue me for additional child support. Yeah, like I can live on less than half.

Most Nurses don't realize that the Texas Board is there to protect the public, not the Nurse. That being said, they don't generally back the Nurses when they bring complaints against Docs or hospitals. The Nurses were upset about the prosecution of 2 whistle blowing Nurses in Wink. Nurses around the state were taking up a legal defense fund for them because we knew the board would not defend them.

Kermit Texas Nurse Faces 10 Prison Years For Reporting Doctor's Malpractice

edit...
A nurse, Anne Mitchell, had seen enough of what she believed to be Arafiles' bad medicine. She and a fellow nurse, Vickilyn Galle, sent a letter detailing the bad medicine they had witnessed, to state regulators.

That letter set in motion a bizarre chain of events that now has the good nurse indicted, facing 10 years in prison, for being true to the Hippocratic Oath. Nurse Mitchell is set to stand trial in state court on Monday for "misuse of official information." Whatever that is, it is a 3rd-degree felony in Texas.

The state prosecutor claims he will show that Nurse Mitchell had a history of making inflammatory statements about Dr. Arafiles, intending to damage his reputation, when she reported him to the Texas Medical Board, last April.

Nurse Mitchell, on the other hand, she being a voice of sanity in the troubled town of Kermit, said she had a professional obligation to protect patients from what she saw was a pattern of improper prescribing and surgical procedures.

edit...

http://durangotexas.blogspot.com/2010/02/kermit-texas-nurse-faces-10-prison.html

OK this is a blog, but the fact are just as fantastic and this is readable.

[ozymandius]

3. Oil pushes above $79 as global stocks gain

SINGAPORE – Oil prices rose above $79 a barrel in Asia on Monday as a global stock market rally gave crude traders optimism.

Almost all Asian and European stock markets rose Monday, led by a 1.8 percent increase in Hong Kong's Hang Seng index. Oil traders often look to equity markets as a reflection of overall investor sentiment.

Investors will be closely watching July employment figures. Analysts are expecting the economy lost 60,000 jobs last month and the unemployment rate rose to 9.6 percent from 9.5 percent in June.

In other Nymex trading in September contracts, heating oil rose 1.01 cents to $2.0982 a gallon, gasoline gained 1.29 cents to $2.1353 a gallon and natural gas jumped 5.5 cents to 4.978 per 1,000 cubic feet.

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

[ozymandius]

8. BP to Start Permanent Plugging of Damaged Gulf Well This Week

Aug. 2 (Bloomberg) -- BP Plc plans this week to inject mud down its Macondo well in the Gulf of Mexico and begin permanently plugging the source of the largest oil spill in U.S. history.

The process will start tonight or tomorrow, National Incident Commander Thad Allen told reporters Sunday on a conference call. Once mud injected into the well overpowers pressure coming up from the reservoir of oil and gas feeding Macondo, BP may use cement to plug the well from the top.

The technique will make it safer to permanently plug the leak later the month, using a shaft drilled to intercept the damaged well about 13,000 feet (4,000 meters) beneath the ocean floor. BP has started installing steel casing in this so-called relief well in preparation for the injection of mud and cement for final plugging, it said yesterday.

BP will know “within hours” whether the injection of mud into the top of the well, known in the industry as a static kill, is successful, Allen said. If the plan works, bringing pressure from Macondo to zero, it will make it easier for BP to permanently plug the well from the bottom with cement, he said.

http://noir.bloomberg.com/apps/news?pid=20601087&sid=apEdZcQTAtPg&pos=9

[ozymandius]

5. Have jobs become a leading indicator?

The job market, often described as reacting in slow-motion to shifts in the pace of economic growth, may actually be a pretty solid indicator of the United States' prospects.

That means a double-dip U.S. recession cannot yet be completely ruled out, particularly since economists believe Friday's payrolls report for July will show a second straight month of net job losses.

Granted, the decline of 63,000 projected by a Reuters survey will reflect temporary census workers being let go by the government. Still, the 91,000 increase in private sector jobs forecasters expect is paltry, and not enough to keep up with new entrants into the labor force.

Uncertainty about a further slowdown in the second half of the year is making employers reluctant to hire. That helps explain why the incipient recovery has thus far failed to make much headway in replacing the more than 8 million jobs lost during the recession of 2008-2009.

http://news.yahoo.com/s/nm/20100801/bs_nm/us_economy_weekahead_outlook

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I see this as a form of self-fulfilling prophecy. Businesses do not hire because they anticipate a dip in revenue. Revenue falls because of a drop in new hires.

[ozymandius]

6. Regulators close banks in Fla., Ga., Ore., Wash.

WASHINGTON – Regulators on Friday shut banks in Florida, Georgia, Oregon and Washington, lifting to 108 the number of U.S. banks to fail this year as the industry has struggled to cope with mounting loan defaults and recession.

The Federal Deposit Insurance Corp. took over the banks: Bayside Savings Bank in Port Saint Joe, Fla., with $66.1 million in assets; Coastal Community Bank, based in Panama City, Fla., with $372.9 million in assets; NorthWest Bank and Trust, based in Acworth, Ga., with assets of $167.7 million; Cowlitz Bank in Longview, Wash., assets of $529.3 million; and LibertyBank, based in Eugene, Ore., assets of $768.2 million.

Centennial Bank, a subsidiary of Home BancShares Inc. based in Conway, Ark., agreed to assume the assets and deposits of Bayside Savings Bank and Coastal Community Bank. State Bank and Trust Co., based in Macon, Ga., is assuming those of NorthWest Bank and Trust.

The pace has accelerated as banks' losses mount on loans made for commercial property and development. Many companies have shut down in the recession, vacating shopping malls and office buildings financed by the loans. That has brought delinquent loan payments and defaults by commercial developers.

http://news.yahoo.com/s/ap/20100731/ap_on_bi_ge/us_bank_closures

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I am interested to see the writedown values of these closed banks' assets. We know that banks fib when posting the value of property on their ledgers before the close. Afterwards, we usually see some serious price discovery, sometimes cutting the value by half.

[ozymandius]

7. Strong banking results boost stocks

LONDON (Reuters) – World stocks kicked off August in a strong mood on Monday as results from BNP Paribas (BNPP.PA) and HSBC (HSBA.L) boosted optimism for corporate earnings and the economic outlook for the rest of the year.

MSCI world equity index (.MIWD00000PUS) rose 0.8 percent, while the Thomson Reuters global stock index (.TRXFLDGLPU) added two thirds of a percent.

The FTSEurofirst 300 index (.FTEU3) gained 1.4 percent.

Tokyo stocks (.N225) rose 0.3 percent, with shares of Canon (7751.T) jumping nearly 6 percent at one point after the world's No. 1 camera maker reported its best profit in seven quarters.

http://news.yahoo.com/s/nm/20100802/bs_nm/us_markets_global

[ozymandius]

9. Greenscam flaps his lips. People who like watching trainwrecks listen.

Greenspan Says Drop in Home Prices Might Bring Back Recession

I did not read the story. Too early right now to be subjected to his gyrating contortions to redeem himself.

[Po_d Mainiac]

15. I'll have what he's drinking

Asked if another economic contraction, a so-called “double dip,” was possible, Greenspan said, “It is possible if home prices go down. Home prices, as best we can judge, have really flattened out in the last year.”


As if to say "we ain't buying it" the author inserted the following statements

Slowing economic growth, and a decline in housing activity following the expiration of a government tax credit, have raised fears that the economy could return to a recession before completing its recovery from the worst downturn since the 1930s.

The former U.S. central bank chairman said that most economists expect “a small dip” in home prices. The National Association of Realtors reported that the pace of home sales fell in June for a second month. Homes are selling at an annual rate of 5.37 million, and the group’s chief economist Lawrence Yun said transactions will be “very low” in coming months.

So in Greenscum's mind, near record low demand will equal stable prices:wtf:

[Joe Chi Minh]

27. Ve-e-e-e-e-ry stable at a record low, mebbe.

[Joe Chi Minh]

28. I expect in their spare time, the realtors will be honing their skills, playing Monopoly.

And that's where Greenspen got his 'inside track' on real estate. I was told he's a Grand Master at the game.

[AnneD]

20. Is he trying....

to sell his home? I got news for him, the Depression has never left. And yes I said Depression and I think we need to call it like it is-we are not a bunch of surprised eCONomist around here.

Say, did Geitner ever sell his house-I still have nightmares about that blue bathroom.

[ozymandius]

10. Stockman: How the GOP Destroyed the U.S. Economy

Ritholtz provides this introduction followed with excerpts from Stockman's column.

Over the years, I have described myself politically as a “Jacob Javits* Republican.” For those of you unfamiliar with the Senator from NY, Javits was a social progressive, a fiscal conservative, “a political descendant of Theodore Roosevelt’s Progressive Republicanism.”

After he “retired” in 1980, the GOP took a very different turn: The emphasis on Fiscal conservatism was lost. Balanced budgets were no longer a priority. In terms of electoral politics, the embrace with the Religious Right was a deal with the devil. It married the party to a backwards combination of social regressiveness and magical thinking. Ideology trumped facts, and conflicting data and science was ignored.

In short, the party became more focused on Politics than Policy.

I bring this up as an intro to David Stockman’s brutal critique of Republican fiscal policy. Stockman was the director of the Office of Management and Budget under President Ronald Reagan. His NYT OpEd — subhed: How the GOP Destroyed the US economy — perfectly summarizes the most legitimate critiques of decades of GOP economic policy.

http://www.ritholtz.com/blog/2010/08/gop-destroyed-the-u-s-economy/

[Po_d Mainiac]

17. Another Stockman slapdown dated 7/31

IF there were such a thing as Chapter 11 for politicians, the Republican push to extend the unaffordable Bush tax cuts would amount to a bankruptcy filing. The nation’s public debt — if honestly reckoned to include municipal bonds and the $7 trillion of new deficits baked into the cake through 2015 — will soon reach $18 trillion. That’s a Greece-scale 120 percent of gross domestic product, and fairly screams out for austerity and sacrifice. It is therefore unseemly for the Senate minority leader, Mitch McConnell, to insist that the nation’s wealthiest taxpayers be spared even a three-percentage-point rate increase.

http://www.nytimes.com/2010/08/01/opinion/01stockman.html?_r=1

[tclambert]

32. I read the Stockman editorial. Now, there's a Republican I actually like.

Of course, all the other Republicans regard him as a traitor.

[Po_d Mainiac]

33. A former republican they ain't fond of. Elizabeth Warren ..NS n/t

[ozymandius]

11. G'bye for awhile.

School days start earlier this year.

Have fun watching The Casino wheels spin. :hi:

[DemReadingDU]

13. Thank you and good toon!

This is an early start, need coffee.

[AnneD]

21. Thanks Ozy......

Do good, be kind, and take care.

[Demeter]

12. IRS Needs $10 Billion to Be Nation's Health Enforcer

http://cnsnews.com/news/article/63181

...The tax collection agency will be responsible for monitoring and enforcing compliance with the individual and employer insurance mandates which form the backbone of the Democrats’ hard-won reforms....While that minimum level of coverage will be defined at a later date by the Department of Health and Human Services, it will be the responsibility of the IRS to monitor individuals and employers and to punish those who do not comply.

Under the bill, which passed despite bipartisan opposition March 21, starting in 2014 the IRS would be responsible for monitoring which employers are complying with the mandate and which ones are not. The IRS would begin such monitoring of individuals’ health insurance status in 2014 as well.

The IRS would monitor individuals and businesses’ health insurance statuses through the mandatory reporting the bill requires. Under the law, every individual and most businesses are required to report to the IRS, on their tax returns, whether they have purchased or provided the required level of coverage and disclose to the IRS which months, if any, in which they failed to do so....

[Demeter]

14. Full Employment Could Be in Germany's Future

http://www.spiegel.de/international/germany/0,1518,709329,00.html

Germany's latest unemployment figures indicate that the country could soon have under 3 million people out of work, a new low....

[AnneD]

22. If European Socialism is so bad...

why are the Germans beating the socks off us. I think every American should travel abroad. It is harder to buy the corporate line of BS when you have seen different. There is more than one way to do anything-even something as absolute as math.

[Joe Chi Minh]

29. Ah Ha! But they don't have the American Dream! They're not dreamers, are they?

Or bullsh*tters. They're doers.

If our political and managerial class in the UK were to be eliminated, man and beast, like the first-born of the Egyptians in Moses day, or a la Pol Pot, you know what? Before long they'd be replaced by ASPIRATIONAL lower middle-class types, and they could be even worse, simply because they've had no other template but their predecessors.

If there is one term that fits the plight of the British people to a tee, it's that of 'battery hens'. A battery, corporate version of Animal Farm. We've never been allowed by our media to learn about the way they govern their countries in Scandinavia - France or Germany, for that matter.

[Demeter]

30. Germany Is Following What US USED to do

Trade barriers, precision quality manufacturing, beating down currency speculators, defending people--workers and others. Exporting quality goods that people want and need to own.

I'm impressed with Angela Merkel. She is everything that Hillary should have been, but never was or will be. She make Palin look like a third-rate clown.

[AnneD]

23. sorry for the double post

too much coffee I guess.

[Festivito]

18. Debt: 07/29/2010 13,246,508,860,572.07 (DOWN 1,284,788,530.79) (Thu)

(Up some. Good morning.)
Comfortable weekend, windows open day and night.
(Debt under Obama seems to jump up big then drop slowly maybe up a little and down a little for days--repeat.)
= Held by the Public + Intragovernmental(FICA)
= 8,702,120,743,281.01 + 4,544,388,117,291.06
UP 3,752,718,531.15 + DOWN 5,037,507,061.94

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

THINKING IN BILLIONS: Think 3 or 4 dollars per billion in a 310-Million person America.
If every American, man, woman and child puts in $3.23 THAT'S 1B$, and $3,228.17 makes 1T$.
A family of three: Mom, Dad, Child: $9.68, ABOUT TEN BUCKS for a 1B$ federal program.
I hope that is clear. However, I'd suggest using $3 per 1B$ to underestimate it.
Use $4 per 1B$ to overestimate the cost when thinking: Is the federal program worth it?
Aid to Dependant Children: 2B$/yr =$8/yr(a movie a year) Family of 3: $24/yr(an hour of bowling)

PERSONALIZED DEBT:
Every 13 seconds we net gain another American, so at the end of the workday of the report, there should be 309,772,793 people in America.
http://www.census.gov/population/www/popclockus.html ON 04/09/2010 15:49 -> 309,034,742
Currently, each of these Americans owe $42,762.02.
A family of three owes $128,286.05. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 22 reports in the last 30 days.
The average for the last 22 reports is 9,498,461,130.37.
The average for the last 30 days would be 6,965,538,162.27.

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$/day.
There were 207 reports in 302 days of FY2010 averaging 6.46B$ per report, 4.43B$/day.
Above line should be okay

PROJECTION:
There are 906 days remaining in this Obama 1st term.
By that time the debt could be between 14.5 and 19.6T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
07/29/2010 13,246,508,860,572.07 BHO (UP 2,619,631,811,658.99 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 +1,336,679,857,060.30 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
Endof10 +1,615,523,668,301.36 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Linear Projection

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
07/09/2010 -000,134,583,926.15 ---
07/12/2010 -000,143,600,537.54 --- Mon
07/13/2010 +000,353,392,256.51 ------------********
07/14/2010 +000,197,224,468.53 ------------********
07/15/2010 +047,740,634,202.02 ------------**********
07/16/2010 +000,234,726,558.99 ------------********
07/19/2010 -000,002,380,240.85 ----- Mon
07/20/2010 +000,028,467,145.72 ------------*******
07/21/2010 +000,002,455,391.44 ------------******
07/22/2010 +010,637,573,043.16 ------------**********
07/23/2010 -000,409,271,286.12 ---
07/26/2010 +000,027,014,896.10 ------------******* Mon
07/27/2010 +000,542,206,084.16 ------------********
07/28/2010 -000,094,171,033.04 ----
07/29/2010 +003,752,718,531.15 ------------*********

62,732,405,554.08 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=4485400&mesg_id=4485412

[Festivito]

35. Debt: 07/30/2010 13,237,726,976,890.03 (DOWN 8,781,883,682.04) (Fri)

(Up a little. Good day.)
Office day is over. Work is slow. Some layoffs.
(Debt under Obama seems to jump up big then drop slowly maybe up a little and down a little for days--repeat.)
= Held by the Public + Intragovernmental(FICA)
= 8,702,457,766,405.64 + 4,535,269,210,484.39
UP 337,023,124.63 + DOWN 9,118,906,806.67

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

THINKING IN BILLIONS: Think 3 or 4 dollars per billion in a 310-Million person America.
If every American, man, woman and child puts in $3.23 THAT'S 1B$, and $3,228.10 makes 1T$.
A family of three: Mom, Dad, Child: $9.68, ABOUT TEN BUCKS for a 1B$ federal program.
I hope that is clear. However, I'd suggest using $3 per 1B$ to underestimate it.
Use $4 per 1B$ to overestimate the cost when thinking: Is the federal program worth it?
Aid to Dependant Children: 2B$/yr =$8/yr(a movie a year) Family of 3: $24/yr(an hour of bowling)

PERSONALIZED DEBT:
Every 13 seconds we net gain another American, so at the end of the workday of the report, there should be 309,779,439 people in America.
http://www.census.gov/population/www/popclockus.html ON 04/09/2010 15:49 -> 309,034,742
Currently, each of these Americans owe $42,732.75.
A family of three owes $128,198.25. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 22 reports in the last 30 days.
The average for the last 22 reports is 1,556,964,678.27.
The average for the last 30 days would be 1,141,774,097.40.

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$/day.
There were 208 reports in 303 days of FY2010 averaging 6.38B$ per report, 4.38B$/day.
Above line should be okay

PROJECTION:
There are 905 days remaining in this Obama 1st term.
By that time the debt could be between 14.3 and 17.9T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
07/30/2010 13,237,726,976,890.03 BHO (UP 2,610,849,927,976.95 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 +1,327,897,973,378.30 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
Endof10 +1,599,613,070,241.19 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Linear Projection

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
07/12/2010 -000,143,600,537.54 --- Mon
07/13/2010 +000,353,392,256.51 ------------********
07/14/2010 +000,197,224,468.53 ------------********
07/15/2010 +047,740,634,202.02 ------------**********
07/16/2010 +000,234,726,558.99 ------------********
07/19/2010 -000,002,380,240.85 ----- Mon
07/20/2010 +000,028,467,145.72 ------------*******
07/21/2010 +000,002,455,391.44 ------------******
07/22/2010 +010,637,573,043.16 ------------**********
07/23/2010 -000,409,271,286.12 ---
07/26/2010 +000,027,014,896.10 ------------******* Mon
07/27/2010 +000,542,206,084.16 ------------********
07/28/2010 -000,094,171,033.04 ----
07/29/2010 +003,752,718,531.15 ------------*********
07/30/2010 +000,337,023,124.63 ------------********

63,204,012,604.86 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=4488404&mesg_id=4488451

[MattSh]

19. NY Times Quotation of the Day.

Just seems appropriate, somehow...

"Democracy didn’t bring us anything. Democracy brought us a can of Coke and a beer."
HAITHAM FARHAN, a shop owner in Baghdad who has to steal electricity to keep his business running.

Hey, be happy!!! You have a Coke, a beer, and free electricity!

[AnneD]

24. My Daddy went to Iraq....

and all I got was this body bag.