Wednesday, August 31, 2011
Bill McKibben: Will Hurricane Irene Be A Wake-Up Call About Climate Change?
This is a segment from the Democracy Now full clip for August 31.
DOW Closes Higher
The DOW closed at 11,613.53 gaining 53.58 points.
Reuters: Wall Street edge up again on stimulus hopes
Reuters: Wall Street edge up again on stimulus hopes
Florida Saggy Pants Ban
Saggy pants are now banned on Florida campuses presumably that means public schools.
Laws are now being enacted in several states to outlaw this attire.
Reuters: Florida lawmaker hands out belts under saggy pants ban
Laws are now being enacted in several states to outlaw this attire.
Reuters: Florida lawmaker hands out belts under saggy pants ban
...a new state law that bans saggy pants on campuses.
"The parents, the grandmothers, the professional people, they say, 'How can they walk down the street showing their behinds?' It's not civilized..."
Irene Damage State By State
Turns out that the worst part of Irene around here was the amount of rain, it was the water. The winds were strong but the most amount of damage came from the 6 to 12 inches of rain that swelled creeks and rivers and saturated the ground.
CS Monitor: Hurricane Irene by the numbers: state by state damage reports
CS Monitor: Hurricane Irene by the numbers: state by state damage reports
In Vermont, 260 roads and 30 bridges are impassable. Some 400 people have been isolated in Killington, Vt., a popular ski and vacation spot.
In New York, "26 counties have been identified with significant damage – flooding, trees down, power outages," Mr. Michalski says. The mostly mountainous counties most affected by flooding "are still in life-safety response."
"The Catskills received between 10 and 12 inches of rain..."
The Market On Wednesday
Good morning. It is 59 degrees and sunny here in Upstate NY. The post Irene cleanup continues in this neighborhood. Mostly everyone has power back and so the loud noisy symphony of gas powered generators is over. I walked by some carved up downed trees earlier. The roads are now all passable and useable. The immediate environment is fine, communities in nearby Vermont, the Catskills, Schoharie County, and Schenectady County have a ways to go.
At 8:15 a.m. futures are significantly higher, the dollar is mixed, and oil is down. Maybe August will end with a bang.
August was a very harsh month. Besides an earthquake and a hurricane, all signs were pointing to a greater collapse in the stock market. The fear of another recession was tangible. The last week has seen gains based mostly on words from the Fed that some kind of stimulus appears to be pending - call it QE3.
Friday will present that sticky report on employment in August. Hard to imagine that being on the very good side, but stranger things have happened.
CNN: Stocks head for solid end to choppy month
At 8:15 a.m. futures are significantly higher, the dollar is mixed, and oil is down. Maybe August will end with a bang.
August was a very harsh month. Besides an earthquake and a hurricane, all signs were pointing to a greater collapse in the stock market. The fear of another recession was tangible. The last week has seen gains based mostly on words from the Fed that some kind of stimulus appears to be pending - call it QE3.
Friday will present that sticky report on employment in August. Hard to imagine that being on the very good side, but stranger things have happened.
CNN: Stocks head for solid end to choppy month
...on Thursday...Wall Street will get two reports on the job market, ahead of Friday's highly-anticipated employment report for August. Reports on factory orders and and regional manufacturing activity are also on tap.
Oil for October delivery slipped 96 cents to $87.94 a barrel.
Tuesday, August 30, 2011
CBS - Vermont Flood Damage
I just spoke with someone in Wilmington and the damage is much more severe than what this clip shows. Route 9 From Bennington to Wilmington is no longer a continuous stretch, sections of the road are missing. Its difficult to get out of Wilmington and supplies are being helicoptered in.
The Last Word - Plame On Cheney
Visit msnbc.com for breaking news, world news, and news about the economy
New Mexico State Trooper Gets Busy On Car Hood
Yea, he might get unpaid leave for a day or two. Maybe it was a slow crime day. Curious way to do a body cavity search...
Fascinating, but these things tend to take our eyes away from the more important social and political issues.
Fascinating, but these things tend to take our eyes away from the more important social and political issues.
More Arrests
See the clip on the tar sands protests at the White House directly below.
Yahoo: Daryl Hannah arrested in White House oil protest
Yahoo: Daryl Hannah arrested in White House oil protest
DOW Closes Higher
The DOW closed at 11,559.95 gaining 20.70 points.
Reuters: Wall Street gains as Fed minutes boost stimulus bets
Reuters: Wall Street gains as Fed minutes boost stimulus bets
Never Wrong Professor Allan Lichtman Picks Obama In 2012
What can I say, I'd rather have a centrist Republican like Obama than a extremist right wing Republican like Bachmann...
US News: Never-Wrong Pundit Picks Obama to Win in 2012
US News: Never-Wrong Pundit Picks Obama to Win in 2012
Allan Lichtman, the American University professor whose election formula has correctly called every president since Ronald Reagan’s 1984 re-election, has a belated birthday present for Barack Obama: Rest easy, your re-election is in the bag.
“Even if I am being conservative, I don’t see how Obama can lose,” says Lichtman, the brains behind The Keys to the White House.
Power!
Just walked in the door for my lunch period, went out to gas up the generator, and voila the power went back on.
All in all we were without power for 54 hours, which is nothing.
Using the generator we had four outlets which we used with four power cords.
So what are our four essentials. We hooked up the sump pump in the basement to keep the house from floating away, the ground is soaked with water. Cord two went to the fridge, didn't want to lose the frozen food and such. Cords three and four went to running the internet panel in the basement, and the router in the living room.
When the power went off, we opted for water removal, fresh food, and the internet. Is there some lesson here? I doubt it.
All in all we were without power for 54 hours, which is nothing.
Using the generator we had four outlets which we used with four power cords.
So what are our four essentials. We hooked up the sump pump in the basement to keep the house from floating away, the ground is soaked with water. Cord two went to the fridge, didn't want to lose the frozen food and such. Cords three and four went to running the internet panel in the basement, and the router in the living room.
When the power went off, we opted for water removal, fresh food, and the internet. Is there some lesson here? I doubt it.
The Market On Tuesday
Good morning. It is 55 degrees and sunny here in Upstate NY. In my town people are still working with the after effects of Irene. People are dragging broken tree limbs and chain sawed up tree parts to the curb. The village crew has plenty of work to do. Three blocks over from my place, a large maple tree fell perfectly perpendicular to the road and in so doing completely took out the power lines. We are into day four without power here.
At 8:30 a.m. futures are moderately down, the dollar is mixed, and oil is down.
Investors will be looking at numbers on consumer confidence today. Its a big deal. Our economy is driven by people buying stuff, so how fluidly people go about buying AKA consuming is telling.
The real problem is that our economy is based on the idea that consuming must keep growing and that growth is the only metric that is of importance. That is obviously not a sustainable system. Somewhere along the line, when the system breaks down so badly that it is not repairable, then bright minds have to come with up a plan. Meanwhile the rest of us will be foraging around like tribal times. Until that happens we will see repeats of the 2008 - 2009 collapse, over and over. This is followed by propping up these collapses, as in 2010. Capitalism has its drawbacks. Growth cannot continue indefinitely.
CNN: Stocks: Investors step back
At 8:30 a.m. futures are moderately down, the dollar is mixed, and oil is down.
Investors will be looking at numbers on consumer confidence today. Its a big deal. Our economy is driven by people buying stuff, so how fluidly people go about buying AKA consuming is telling.
The real problem is that our economy is based on the idea that consuming must keep growing and that growth is the only metric that is of importance. That is obviously not a sustainable system. Somewhere along the line, when the system breaks down so badly that it is not repairable, then bright minds have to come with up a plan. Meanwhile the rest of us will be foraging around like tribal times. Until that happens we will see repeats of the 2008 - 2009 collapse, over and over. This is followed by propping up these collapses, as in 2010. Capitalism has its drawbacks. Growth cannot continue indefinitely.
CNN: Stocks: Investors step back
Much of the weakness has be fueled by fears that the U.S. economy could tip back into a recession.
After the opening bell, a report from the Conference Board is expected to show a drop in consumer confidence.
At 2 p.m. ET, the Federal Reserve will release minutes from it Aug. 9 meeting.
Oil for October delivery slipped 45 cents to $86.82 a barrel.
Monday, August 29, 2011
Gay Old Party
When a politician makes a concerted effort to present themselves as being "anti-gay" the general rule of thumb indicates they are actually telling the world they are gay. This rule of thumb is particularly relevant to GOP politicians.
Recapping: Anti-gay GOP politician = Gay GOP politician
Raw Story: Conservative Puerto Rican lawmaker resigns after nude photo scandal
Recapping: Anti-gay GOP politician = Gay GOP politician
Raw Story: Conservative Puerto Rican lawmaker resigns after nude photo scandal
DOW Closes Higher
The DOW closed at 11,539.25 gaining 254.71 points.
Investors were pleased that a hurricane and an earthquake swept NYC within a week and New Yorkers held their ground.
Reuters: Wall Street surges 2 percent on Greek bank deal; trade thin
Investors were pleased that a hurricane and an earthquake swept NYC within a week and New Yorkers held their ground.
Reuters: Wall Street surges 2 percent on Greek bank deal; trade thin
The Market On Monday
Good morning. It is 56 degrees and sunny here in Upstate NY. Irene left us a mess. There is much flooding in the area. The Hudson River is expected to start surging higher causing authorities to mandate evacuations to residents in houses close to the water. Hopefully power will be restored to my area. We are running on a generator. The sound of generators is in the air, its noisy, but it beats a basement with several feet of water and that's the truth. I estimate that right now the sump pump is seeing about a gallon of water every minute. Do the math, without the sump pump running we are in trouble. Eventually the sun will dry out the ground which at present is super saturated with water.
At 8:10 a.m. futures are significantly higher, the dollar is mixed, and oil is slightly higher.
All are relieved to see that the hurricane was not the worst case scenario. There is damage but it could have been much worse. This fact is playing well on Wall Street for now.
After that euphoria wears off, investors will be facing the same series of economic issues that have plagued us for quite some time. The big deal for this week will be government numbers on employment in August, which will be released on Friday. Hey, maybe some kind of miracle happened and corporate America hired millions of people.
Yea, that didn't happen...
CNN: Stocks headed for early gains
At 8:10 a.m. futures are significantly higher, the dollar is mixed, and oil is slightly higher.
All are relieved to see that the hurricane was not the worst case scenario. There is damage but it could have been much worse. This fact is playing well on Wall Street for now.
After that euphoria wears off, investors will be facing the same series of economic issues that have plagued us for quite some time. The big deal for this week will be government numbers on employment in August, which will be released on Friday. Hey, maybe some kind of miracle happened and corporate America hired millions of people.
Yea, that didn't happen...
CNN: Stocks headed for early gains
Investors will also remain focused on Europe's ongoing debt problems, while bracing for the all-important monthly jobs report due on Friday.
Pending home sales figures for June are slated to come in after the open...
Oil for October deliver added 58 cents to $85.95 a barrel.
Sunday, August 28, 2011
Tanks
Irene...
Troy Record: Propane tank floats down Poestenkill; residents urged to stay off county roads
Troy Record: Propane tank floats down Poestenkill; residents urged to stay off county roads
Irened
Spent the day working to keep the basement dry.
At 10 a.m. it was dry, raining out pretty heavily, but I thought we were good. So we went over to a neighbors and chit chatted for two hours or so. When we got back, the basement had 3 inches of water. I dragged out the generator, hooked up the sump pump, and starting shoveling up water.
At 8:45 p.m. the basement is clear, there's still water running into the sump pump so the generator has to remain on for a few more hours.
My block has no power. They have the lines in the back of the houses around here and the trees are always falling on them and knocking out the power.
Fortunately we have the generator and I have temporarily hooked up the internet.
Hope everyone did okay.
The sky is still cloudy and we are still getting gusts of wind which are taking down small and large limbs. The street is full of tree debris.
At 10 a.m. it was dry, raining out pretty heavily, but I thought we were good. So we went over to a neighbors and chit chatted for two hours or so. When we got back, the basement had 3 inches of water. I dragged out the generator, hooked up the sump pump, and starting shoveling up water.
At 8:45 p.m. the basement is clear, there's still water running into the sump pump so the generator has to remain on for a few more hours.
My block has no power. They have the lines in the back of the houses around here and the trees are always falling on them and knocking out the power.
Fortunately we have the generator and I have temporarily hooked up the internet.
Hope everyone did okay.
The sky is still cloudy and we are still getting gusts of wind which are taking down small and large limbs. The street is full of tree debris.
Power Outage
We are having a major power outage which could last for days.
The blog is temporarily on hold.
I hope everyone is hanging in there, Irene is allegedly petering out.
The blog is temporarily on hold.
I hope everyone is hanging in there, Irene is allegedly petering out.
Saturday, August 27, 2011
Good Night
Got the generator out and primed today just in case we lose power on Sunday. The sound of generators was in the air this afternoon, everybody is thinking the same thing. At 8:30 p.m. the clouds are here, the air is still, and there's light intermittent rain. We took objects that might not do well in stronger winds inside. Hopefully the trees can hold up, we do have some old willows that are especially vulnerable. In 24 hours the peak will be gone.
Coming Up On Wall Street
Good morning. It is 64 degrees, hazy, and eerily quiet here in Upstate NY. The forecast predicts rain later today, at the moment its dry. We are waiting to see what kind of storm Irene will land on this part of New York. Most people expect to deal with power outages and fallen limbs and trees from high winds. In my area we get power outages and trees down from mild winds, its a very wooded area. There is a huge oak tree in our front yard and right now it makes us concerned. At the Y last night, the talk was about Irene, generators, and sump pumps. Everybody around here depends on a sump pump to keep the basement dry. Everybody depends on a generator to keep the sump pump going during the power outages. One of my jobs today will be readying the generator.
Wall Street also has an eye on Irene. For now the market is expected to open on Monday but that call could change as the weekend proceeds.
Some people say the storm could disrupt a rally resulting from the Bernanke dialogues. Lots of ifs as usual.
Regardless, investors will be looking at a slew of data on our distressed economy through the upcoming week. The big enchilada comes on Friday with a government release of numbers on employment in August. Officially the unemployment rate is 9.1% and nobody excepting a few overly optimistic idealogues believes the actual number is that low. Its probably more like 18%.
Hard to believe that we are heading into September. Its been a very memorable and glorious Summer.
Reuters: Stocks eye perfect storm of Irene and jobs
Wall Street also has an eye on Irene. For now the market is expected to open on Monday but that call could change as the weekend proceeds.
Some people say the storm could disrupt a rally resulting from the Bernanke dialogues. Lots of ifs as usual.
Regardless, investors will be looking at a slew of data on our distressed economy through the upcoming week. The big enchilada comes on Friday with a government release of numbers on employment in August. Officially the unemployment rate is 9.1% and nobody excepting a few overly optimistic idealogues believes the actual number is that low. Its probably more like 18%.
Hard to believe that we are heading into September. Its been a very memorable and glorious Summer.
Reuters: Stocks eye perfect storm of Irene and jobs
...the NYSE and Nasdaq expect to be open for trading as usual on Monday morning.
...August payrolls report next Friday.
....a torrent of data throughout the week...personal income and consumption on Monday, S&P/Case-Shiller home prices on Tuesday, factory orders on Wednesday and the Institute for Supply Management's factory activity index on Thursday.
Friday, August 26, 2011
DOW Closes Higher
The DOW closed at 11,284.54 gaining 134.72 points.
Reuters: Wall Street posts first weekly gain in more than a month
Reuters: Wall Street posts first weekly gain in more than a month
MSNBC - Criticizing Cheney
Visit msnbc.com for breaking news, world news, and news about the economy
DOW Higher At Noon
In the noon hour the DOW is up 93 points. Investors apparently liked what they heard from Bernanke.
Reuters: Major stock indexes turn positive
Reuters: Major stock indexes turn positive
The Market On Friday
Good morning and welcome to the Irene weekend. It is 62 degrees and sunny here in Upstate NY. People are a little nervous about this weekend and how Irene might affect everything. Coastal states in the Northeast are trying to prepare for Irene. I hope everyone that is close to the ocean is taking all the proper precautions. We are 150 miles or so inland so if the eye of the storm heads in our direction it should simmer down with no water to draw energy from. Still it could get windy and I expect if that happens we might see some trees down maybe even some power outages. Keep your candles handy.
At 8:00 a.m. futures are slightly down, the dollar is down, and oil is down.
Today its all about Bernanke's 10:00 a.m. speech on the economy. Investors have been anxiously awaiting this talk. What will Bernanke do to spur the investment economy along. The speculation is all over the place. Will he start QE3? Regardless, Bernanke's words will have a powerful influence on the direction of the market today and probably for some time to come. He is expected to be the calm captain in the midst of a great storm. By noontime the dust will be settled.
CNN: Stocks brace for Bernanke
At 8:00 a.m. futures are slightly down, the dollar is down, and oil is down.
Today its all about Bernanke's 10:00 a.m. speech on the economy. Investors have been anxiously awaiting this talk. What will Bernanke do to spur the investment economy along. The speculation is all over the place. Will he start QE3? Regardless, Bernanke's words will have a powerful influence on the direction of the market today and probably for some time to come. He is expected to be the calm captain in the midst of a great storm. By noontime the dust will be settled.
CNN: Stocks brace for Bernanke
The market momentum has been attributed to investor hopes that Bernanke will announce new measures to spur economic growth, when he gives his speech at Kansas City Fed's annual retreat at Jackson Hole, Wyo., at 10 a.m. ET.
Oil for October delivery slipped 40 cents to $84.93 a barrel.
Diamond
In Tibetan Buddhism there is a world called Videha that is white and brilliant.
Scientists have located a diamond planet. How cool is that.
Raw Story: Astronomers discover planet made of diamond
Scientists have located a diamond planet. How cool is that.
Raw Story: Astronomers discover planet made of diamond
Thursday, August 25, 2011
'Fire And Swimming'
Just published a piece of my music over at Sound Cloud. First time I tried it. If you like it, feel free to copy and paste the code as needed.
Jim Sande - Fire And Swimming by Jim Sande
Jim Sande - Fire And Swimming by Jim Sande
DOW Closes Lower
The DOW closed at 11,149.82 dropping 170.89 points.
Reuters: Sellers emerge ahead of Bernanke speech
Reuters: Sellers emerge ahead of Bernanke speech
CNN - Dog Stays Loyal To Dead Owner
This brave man's dog reminds us that love exists in the world. That is an extraordinary gift.
Divorce Bible
Fascinating article.
I'm wondering why the Bible States continue to protest gay marriage, the Bible States are not doing a very good job of "marriage in the eyes of God."
CNN: What's fueling Bible Belt divorces
I'm wondering why the Bible States continue to protest gay marriage, the Bible States are not doing a very good job of "marriage in the eyes of God."
CNN: What's fueling Bible Belt divorces
Southern men and women had higher rates of divorce in 2009 than their counterparts in other parts of the country: 10.2 per 1,000 for men and 11.1 per 1,000 for women, according to a new report from the U.S. Census Bureau released Thursday.
By comparison, men and women in the Northeast had the lowest rates of divorce, 7.2 and 7.5 per 1,000, which is also lower than the national divorce rate of 9.2 for men and 9.7 for women.
DOW Lower At Noon
In the noon hour the DOW is down 128 points.
Reuters: Wall Street drops about 1 percent, tracking German Dax
Reuters: Wall Street drops about 1 percent, tracking German Dax
Rachel Maddow - Gaddafi Trophy
Visit msnbc.com for breaking news, world news, and news about the economy
The Colonel, The Secretary, His Wife, Her Lover
This reads like an Onion spoof, only its not.
MSNBC: In the ruins of Gadhafi's lair, rebels find album filled with photos of his 'darling' Condoleezza Rice
MSNBC: In the ruins of Gadhafi's lair, rebels find album filled with photos of his 'darling' Condoleezza Rice
417,000
More proof that our economy is in severe distress. This is bad news, it will get smoothed over, but there's no denying the evidence.
From CNN:
From CNN:
Number of people filing for initial unemployment benefits rose 5,000 to 417,000 in the latest week, the government says.
Too Many Antibiotics
Recall articles that came out in recent years that went into how people flush their old medicines and consequently we were all getting small doses of all kinds of things through our water supply.
I keep thinking that future generation will look back on our century with amazement in how we gleefully consent to modern medicine which seem to operate in a context free environment. The scientists model of perfection does not translate well into a practical life.
Long story short - do you really need that medicine or will time, a little change in the routine, and nature's course work better. I like the doctors that work with this philosophy.
Live Science: Overuse of Antibiotics Is Seen Behind Many Human Ills
I keep thinking that future generation will look back on our century with amazement in how we gleefully consent to modern medicine which seem to operate in a context free environment. The scientists model of perfection does not translate well into a practical life.
Long story short - do you really need that medicine or will time, a little change in the routine, and nature's course work better. I like the doctors that work with this philosophy.
Live Science: Overuse of Antibiotics Is Seen Behind Many Human Ills
"Overuse of antibiotics could be fueling the dramatic increase in conditions such as obesity, type 1 diabetes, inflammatory bowel disease, allergies and asthma, which have more than doubled in many populations..."
The Market On Thursday
Good morning. It is 72 degrees and with a promise of rain here in Upstate NY. I was up at 6 a.m. and out walking under a dark clouded sky, definitely a rawness to the feel of the environment. We are subtly shifting back to Fall. If you are like me, Fall is the best time of the year. Its a time of tangible poignancy as we feel the changing of seasons, and the changing of our lives. The kids get older and move up a rung, we went through all of the rungs, and we did alright. Its the reflection back on our time that cuts through our daily experience. Maybe Fall is the sweet and sour season.
At 8:15 a.m. equity futures are modestly up, the dollar is mixed, and oil is up per barrel ascending its way towards $90 a barrel. Want to bet that the price of gas goes up after the travel season...
Investors are wondering how Apple will maintain consistency with the departure of Jobs. Apple is the second most profitable company out there. Its a big deal.
The real news comes on Friday when Bernanke tells Wall Street how he intends to stimulate their economy. I say 'their economy' because Bernanke's words are directed primarily to Wall Street. That's the way the game is played, and that's how Bernanke rolls.
CNN: Stocks: All eyes on Apple
At 8:15 a.m. equity futures are modestly up, the dollar is mixed, and oil is up per barrel ascending its way towards $90 a barrel. Want to bet that the price of gas goes up after the travel season...
Investors are wondering how Apple will maintain consistency with the departure of Jobs. Apple is the second most profitable company out there. Its a big deal.
The real news comes on Friday when Bernanke tells Wall Street how he intends to stimulate their economy. I say 'their economy' because Bernanke's words are directed primarily to Wall Street. That's the way the game is played, and that's how Bernanke rolls.
CNN: Stocks: All eyes on Apple
Former Chief Operating Officer Tim Cook will replace Jobs (at Apple)...
Since the start of the week, investors have been gearing up for Federal Reserve Chairman Ben Bernanke's key speech on Friday for further hints about the health of the economy.
Oil for October delivery gained 68 cents to $85.81 a barrel.
Wednesday, August 24, 2011
Human Activity And Earthquakes
Humans activity can cause earthquakes, fracking, for example, will do it.
Raw Story: 5 things the media isn’t telling you about human activity and earthquakes
Raw Story: 5 things the media isn’t telling you about human activity and earthquakes
Rick Perry In The Lead
Long story short - Perry 29%, Romney 17%, Paul 13%, Bachmann 10%.
America's infatuation with stupid remains in tact, the stupider the better...
Gallup: Perry Zooms to Front of Pack for 2012 GOP Nomination
America's infatuation with stupid remains in tact, the stupider the better...
Gallup: Perry Zooms to Front of Pack for 2012 GOP Nomination
State Of Improvement
I just know one thing, I would hate to be a worker in any state's budget office.
More news on the all around economic health and non health -
CS Monitor: States' bottom line improves, but can the good news last ?
More news on the all around economic health and non health -
CS Monitor: States' bottom line improves, but can the good news last ?
More than half of them will take in more revenue than they expected, and a handful are reporting surpluses, according to one study. Several other reports point to the same trend: states' 2011 budgets heading in the right direction as tax collections increase.
The Market On Wednesday
Good morning. It is 61 degrees and sunny here in Upstate NY. We are into the perfect weather period, end of Summer, warm but not too warm. I now jog twice a week and this morning was jog day. I'm not sure there's much of a difference between my jog and my fast walk, the jog might even be slower. I got a few waves from passing joggers and cyclists, must be a friendly kind of day.
At 8:15 a.m. futures are moderately down, the dollar is down, and oil is down. That's a lot of down.
As you know the market rallied big time on Tuesday, propping up faith in our economy. Don't be fooled. The market is very volatile right now and the mood swings are severe. I'm still in the recession is coming field.
Notice that Asian lover Japan had its credit rating dropped by S&P to Aa3. Poor Japan, its an undeserving label and it simply doesn't look good. Its unbalanced, a large "A" next to an itty bitty "a", what the hell is that?
Investors are inching closer to hearing from Bernanke on Friday. Will he suggest QE3 or will he hold his cards and bless Wall Street with a calming hand gesture. Make no mistake the other hand will be giving ordinary Americans a less friendly hand gesture.
CNN: Stocks set to retreat
At 8:15 a.m. futures are moderately down, the dollar is down, and oil is down. That's a lot of down.
As you know the market rallied big time on Tuesday, propping up faith in our economy. Don't be fooled. The market is very volatile right now and the mood swings are severe. I'm still in the recession is coming field.
Notice that Asian lover Japan had its credit rating dropped by S&P to Aa3. Poor Japan, its an undeserving label and it simply doesn't look good. Its unbalanced, a large "A" next to an itty bitty "a", what the hell is that?
Investors are inching closer to hearing from Bernanke on Friday. Will he suggest QE3 or will he hold his cards and bless Wall Street with a calming hand gesture. Make no mistake the other hand will be giving ordinary Americans a less friendly hand gesture.
CNN: Stocks set to retreat
The Commerce Department's report on durable goods for July is out at 8:30 a.m. ET.
Durable goods, or items designed to last two years or longer, are typically purchased by consumers and corporations when they feel confident about the economy.
Oil for October delivery slipped 21 cents to $85.23 a barrel.
Tuesday, August 23, 2011
More On The Quake
Happy to read the no deaths part. Looks like the quake totally freaked out millions of people.
Reuters: Earthquake rattles East Coast, no deaths
Reuters: Earthquake rattles East Coast, no deaths
"We were rocking..."
Chandeliers swayed in the U.S. Capitol...
"I thought I was dizzy..."
DOW Closes Significantly Higher
The DOW closed at 11,176.76 gaining 322.11. Wall Street thought the quake was just the feel of the indexes swelling up.
Reuters: Wall Street ends sharply higher on Fed hopes
Reuters: Wall Street ends sharply higher on Fed hopes
Quake
That house shaking you might have experienced a few minutes ago was the after effects of a 5.8 magnitude earthquake in Virginia, or so I was told by the local news room. I'm sure more specifics will be out including corrections to the story.
That was weird. We felt it in Upstate NY.
From CNN:
That was weird. We felt it in Upstate NY.
From CNN:
Magnitude 5.8 earthquake shakes Virginia, D.C. and New York
DOW Higher At Noon
In the noon hour the DOW is up 190 points passing 11,000 again.
Reuters: Wall St extends gains; S&P, Nasdaq up 2 pct
Reuters: Wall St extends gains; S&P, Nasdaq up 2 pct
Business Economists Say Raise Taxes
I would suggest you read the linked CS Monitor article below. The article is on another group of economists who know that raising taxes is the way out of the economic malaise. It is another pointed criticism of the Ultra Rich Tea Party GOP and their economy killing austerity policy. The Ultra Rich Tea Party GOP represent the wealthiest conservative Republicans in the world. These people could care less if the US economy sinks or swims because they make money on Wall Street if the markets go up or down. They don't want to pay any taxes, they could care less about the economic health of the country. These are the greediest people in America. Notice how often they wrap themselves in the flag, and spout off superb hyperbole on religion and morality while they themselves are fundamentally morally vacant.
CS Monitor: US should raise taxes to help fix deficits, say business economists
CS Monitor: US should raise taxes to help fix deficits, say business economists
Some three-quarters of economists who do forecasting for the private sector say tax revenue should rise as part of efforts to tame unsustainable budget deficits, according to the survey released Monday by the National Association for Business Economics.
By contrast, 19 percent said tax reform should be done in a "revenue-neutral" way, and 5 percent said reforms should reduce tax revenues.
...most of the economists tipped against the Republican Party's argument on tax revenues...
The Market On Tuesday
Good morning. It is 56 degrees with a promise of sunshine here in Upstate NY. It was chilly out this morning. I went out for my 6 a.m. walk with a T-shirt on and it was not really enough. Other people were out with their fleece vests on. Haven't seen the old fleece vest in a while. So I decided to walk at a faster pace and try to build up some steam. It worked, by the end of the walk I was sweating.
At 7:50 a.m. futures are significantly higher, the dollar is down, and oil is up. The trifecta for the market to rise at the opening bell is presently in place. Things can change.
Investors will be looking at data on new home sales. It is hard to imagine that this data will be glowing. This does not seem to be a strong buying period even though money is cheap right now. Mortgage rates are ridiculously low.
Friday is still the day of reckoning. People are anxiously awaiting to hear Bernanke tell the world how the American economy will move forward and what the Fed plans to do to make that movement occur.
CNN: Stocks headed for a strong open
At 7:50 a.m. futures are significantly higher, the dollar is down, and oil is up. The trifecta for the market to rise at the opening bell is presently in place. Things can change.
Investors will be looking at data on new home sales. It is hard to imagine that this data will be glowing. This does not seem to be a strong buying period even though money is cheap right now. Mortgage rates are ridiculously low.
Friday is still the day of reckoning. People are anxiously awaiting to hear Bernanke tell the world how the American economy will move forward and what the Fed plans to do to make that movement occur.
CNN: Stocks headed for a strong open
...a slight improvement in Chinese manufacturing helped boost markets around the globe.
Investors will get the Commerce Department's new home sales report at 10 a.m. ET.
Monday, August 22, 2011
Ron Reagan On Perry And Bachmann
Visit msnbc.com for breaking news, world news, and news about the economy
A Collective Awakening On Climate Change
With David Suzuki, Zen Buddhist Monk Thich Nhat Hanh, Vancouver Mayor Gregor Robertson, and David Suzuki Foundation Chair Jim Hoggan.
Disgraceful Bush Administration Spying
Disgraceful event, as the Bush administration spied on antiwar.com during the Iraq War debacle. The entire list of groups spied on by the Bush administration is listed.
Disgraceful.
Raw Story: FOIA shows Bush admin. spied on Antiwar.com
DOW Closes Higher
The DOW closed at 10,854.65 gaining 37 points.
Reuters: Bargain hunters tiptoe back but remain cautious
Reuters: Bargain hunters tiptoe back but remain cautious
"Until we get some kind of a catalyst from Europe regarding the sovereign debt crisis or from the Fed later this week, I expect range-bound trading with high intraday volatility..."
Hybrid Trucks Coming
Back in 1995 I bought a new Nissan small pickup truck. At the time I thought to myself, well my next truck will be a hybrid.
Skip ahead 16 years to 2011 and no hybrid trucks are in sight, nada.
Toyota and Ford are now teaming up to build a hybrid truck, only problem its slated for delivery at the end of the decade. That would be 8 to 9 years from now.
Turns out I was only 25 years off in my dream for a hybrid truck.
Incidentally that Nissan truck is now a rusted mess of junk somewhere out there in the world.
Reuters: Toyota, Ford to collaborate on hybrid trucks
Skip ahead 16 years to 2011 and no hybrid trucks are in sight, nada.
Toyota and Ford are now teaming up to build a hybrid truck, only problem its slated for delivery at the end of the decade. That would be 8 to 9 years from now.
Turns out I was only 25 years off in my dream for a hybrid truck.
Incidentally that Nissan truck is now a rusted mess of junk somewhere out there in the world.
Reuters: Toyota, Ford to collaborate on hybrid trucks
3.4 Billion Year Old Fossil Discovery
They processed sulfur for energy, not oxygen.
BBC: Fossil microbes give sulfur insight on ancient Earth
BBC: Fossil microbes give sulfur insight on ancient Earth
Which Is the Most Spiritual?
Turns out my guidance counselor's first choice for me - Bennington College - is the least religious ranked college. Alas I did not attend having opted, out of financial necessity, to be mass produced in the SUNY system.
Next question - which is the most spiritual school? Anybody can assume the shroud of religion, learn the religiously correct language, repeat the text, but where are the truly kind, compassionate, and egalitarian people?
CNN: Princeton Review ranks most and least religious schools
Next question - which is the most spiritual school? Anybody can assume the shroud of religion, learn the religiously correct language, repeat the text, but where are the truly kind, compassionate, and egalitarian people?
CNN: Princeton Review ranks most and least religious schools
Send Huntsman Money
If we are going to be saddled with a GOP president for four to eight years at least dear GOD let it be someone like Huntsman. Someone who is not an anti-intellectual AKA not a neurotic moron.
I know, Huntsman has the chance of a snowball in heat scorched Texas. The GOP has to pick another empty shirt sadist, get used to it. They are compelled by dark forces they cannot understand or make sense out of to do this. Let's try to be understanding, they just can't help themselves plus the big powerful money interests want it, end of story.
CS Monitor: Jon Huntsman vs. Rick Perry: Shoot-out at the GOP corral
I know, Huntsman has the chance of a snowball in heat scorched Texas. The GOP has to pick another empty shirt sadist, get used to it. They are compelled by dark forces they cannot understand or make sense out of to do this. Let's try to be understanding, they just can't help themselves plus the big powerful money interests want it, end of story.
CS Monitor: Jon Huntsman vs. Rick Perry: Shoot-out at the GOP corral
The Market On Monday
Good morning. It is 62 degrees and with a promise of sunshine here in Upstate NY. I hope you had a good weekend. We had a productive weekend, the rain on Sunday curtailed work on this old house. Still we got a lot done. A close acquaintance is preparing for a marathon run, I am the portable water person. I follow along on my bicycle, listen to NPR, and provide water as needed. I'm also in charge of security...
At 8:10 a.m. futures are significantly up, the dollar is mixed, and oil is up in price.
Allegedly investors are pleased to see that Tripoli has fallen and Gadhafi is getting the boot. What kind of a countryman would allow his people to suffer the turmoil of a civil war over their own preservation as the leader? Gadhafi is a monster, end of story. I'm happy to see him go.
Investor minds are advancing to Friday when the leader of the free world, Bernanke, will whisper deep secrets about our economy. At that moment investors will be spellbound. Their attention will be immaculate and crystal clear.
I'm still leaning towards recession. I would encourage you to listen to the clip posted directly below. In it you will once again hear an admonishment of the Ultra Rich Tea Party GOP. The admonishment goes something like this - do not be concerned with balanced budgets now, that can come many years down the road, now we need stimulus, we need jobs now, not austerity and balanced budgets. Balanced budgets and austerity will kill off the economy.
Incidentally turns out that most of the new Tea Party GOP Congress types are multimillionaires. Taxes anyone?
CNN: Stocks poised for a bounce
At 8:10 a.m. futures are significantly up, the dollar is mixed, and oil is up in price.
Allegedly investors are pleased to see that Tripoli has fallen and Gadhafi is getting the boot. What kind of a countryman would allow his people to suffer the turmoil of a civil war over their own preservation as the leader? Gadhafi is a monster, end of story. I'm happy to see him go.
Investor minds are advancing to Friday when the leader of the free world, Bernanke, will whisper deep secrets about our economy. At that moment investors will be spellbound. Their attention will be immaculate and crystal clear.
I'm still leaning towards recession. I would encourage you to listen to the clip posted directly below. In it you will once again hear an admonishment of the Ultra Rich Tea Party GOP. The admonishment goes something like this - do not be concerned with balanced budgets now, that can come many years down the road, now we need stimulus, we need jobs now, not austerity and balanced budgets. Balanced budgets and austerity will kill off the economy.
Incidentally turns out that most of the new Tea Party GOP Congress types are multimillionaires. Taxes anyone?
CNN: Stocks poised for a bounce
...on Friday, when Federal Reserve Chairman Ben Bernanke will give his keynote speech at the Kansas City Fed's annual retreat in Jackson Hole, Wyo.
"It looks as though Gadhafi's regime is about to collapse, if it hasn't already...That's helping markets in Europe, particularly the energy sector, and also U.S. stock futures."
Subscribe to:
Posts (Atom)
