Friday, September 30, 2011
Rachel Maddow - Gay Marriage Bans And Anti-Abortion Bills
Visit msnbc.com for breaking news, world news, and news about the economy
DOW Closes Lower
The DOW closed at 10,913.38 dropping 240.60 points.
Reuters: Wall Street ends worst quarter since 2008 meltdown
Reuters: Wall Street ends worst quarter since 2008 meltdown
DOW Lower At Noon
In the noon hour the DOW is down 77 points.
I have been in the next technical recession is coming soon camp for a few months now. Between Europe's mess, our gross inability to get out the Great Recession for many reasons, our intractable Tea Party Congress that wants another recession, and obviously more things like deflation/inflation and a housing market in disarray, we could be screwed. We need action ASAP, not inaction.
I want to be wrong here.
CNN: Forecast says double-dip recession is imminent
I have been in the next technical recession is coming soon camp for a few months now. Between Europe's mess, our gross inability to get out the Great Recession for many reasons, our intractable Tea Party Congress that wants another recession, and obviously more things like deflation/inflation and a housing market in disarray, we could be screwed. We need action ASAP, not inaction.
I want to be wrong here.
CNN: Forecast says double-dip recession is imminent
...all those indicators are now pointing to a new economic downturn in the immediate future.
...it is still possible that the recession will be mild this time, lasting less than a year with relatively limited job losses.
Terrible Ten
The Nation outs the terrible ten politicians at the heart of gutting our social safety nets.
We see this time and time again where low information conservative voters make horrific political choices, choices that ultimately hurt their own interests.
AlterNet: 10 Congresspeople Making Life Worse for Their Constituents
We see this time and time again where low information conservative voters make horrific political choices, choices that ultimately hurt their own interests.
AlterNet: 10 Congresspeople Making Life Worse for Their Constituents
“These ten members represent districts and states with some of the highest poverty rates in the country, and yet have voted for job-killing budget bills and deep cuts to our nation’s safety net. Its a mismatch too stark to be ignored.”
The argument that we can’t afford what in many cases are life-saving programs is nonsense.
The Market On Friday
Good morning and welcome to the weekend. It is 57 degrees and the sun is struggling to make an appearance behind a cloud wall. I am hoping for some sunshine this weekend because there are still many things to do on this old house before the snow flies. Looking ahead rain is in our future for Saturday and Sunday, clearly a sun intervention needs to be held.
At 8:10 a.m. DOW futures are significantly down, the dollar is mostly up except against the British pound, and oil is up over $2 per barrel.
Allegedly it is higher than expected inflation in Europe that is at the heart of today's early sell off. There is a fear that interest rates in Europe will correspondingly rise too. A storm continues to gather in Europe and how this thing is going to play out is not clear but nothing indicates that a good and easy outcome will occur any time soon.
Today also represents the end of the third quarter. That means that very soon corporations will be presenting their third quarter reports. Long story short - mix so so corporate reports due to a slowdown in with Eurozone debt fear issues coupled with rising inflation and the markets will be pressured downward. That would be the worst case.
CNN: Stocks: Eurozone fears rule market
At 8:10 a.m. DOW futures are significantly down, the dollar is mostly up except against the British pound, and oil is up over $2 per barrel.
Allegedly it is higher than expected inflation in Europe that is at the heart of today's early sell off. There is a fear that interest rates in Europe will correspondingly rise too. A storm continues to gather in Europe and how this thing is going to play out is not clear but nothing indicates that a good and easy outcome will occur any time soon.
Today also represents the end of the third quarter. That means that very soon corporations will be presenting their third quarter reports. Long story short - mix so so corporate reports due to a slowdown in with Eurozone debt fear issues coupled with rising inflation and the markets will be pressured downward. That would be the worst case.
CNN: Stocks: Eurozone fears rule market
It's been a volatile quarter, with fear about Europe's debt crisis and an economic slowdown weighing on investors.
A government report on personal income and spending is due before the opening bell.
The University of Michigan's final reading on consumer sentiment in September is due shortly after the market opens.
Oil for November delivery gained $2.49 to $82.38 a barrel.
Thursday, September 29, 2011
Transit Workers To Join 'Occupy Wall Street'
This thing has some legs.
The Village Voice: Transport Workers Union Votes Unanimously to Support Occupy Wall Street
The Village Voice: Transport Workers Union Votes Unanimously to Support Occupy Wall Street
And last night, the Transport Workers Union voted to support Occupy Wall Street. We hear that the UAW will be showing support as well.
TWU Local 100 has 38,000 members, the vast majority of whom work in New York City transit.
DOW Closes Higher
The DOW closed at 11,153.98 gaining 143.08 points.
Reuters: Dow, S&P 500 end higher in volatile trade
Reuters: Dow, S&P 500 end higher in volatile trade
DOW Higher At Noon
In the noon hour the DOW is 154 points higher.
Reuters: Europe again steps back from brink in debt crisis
Reuters: Europe again steps back from brink in debt crisis
Disconnect
Many Americans are placing their faith in God as the answer to our economic troubles.
The article works on explaining some of the amazing disconnects going on in this country from the point of view of should we say ignoring policy that could impact and improve the economy.
I personally suspect that God might be inclined or even prefer to bless spiritual activity that is also accompanied by actions. Actions are the finishing step not inaction.
AlterNet: How Conservative Politicians Wait for God to Fix the Economy, With Frightening Results
The article works on explaining some of the amazing disconnects going on in this country from the point of view of should we say ignoring policy that could impact and improve the economy.
I personally suspect that God might be inclined or even prefer to bless spiritual activity that is also accompanied by actions. Actions are the finishing step not inaction.
AlterNet: How Conservative Politicians Wait for God to Fix the Economy, With Frightening Results
A study released last fall suggests that the theology embraced by American religious conservatives may render them immune to evidence and reason when it comes to economic management.
391,000
This will be regarded as good news. Its about time the number cracked 400k. Its been way too long.
From CNN:
From CNN:
First-time unemployment claims tumble to 391,000, down 37,000 in the latest week -- the lowest level since April, government says.
The Market On Thursday
Good morning. It is 65 degrees and presently raining cats and large dogs here in Upstate NY. I was out walking bright and early this morning except it was dark and rainy. I walked with an umbrella and rain jacket, still got pretty soaked though. Midway through the walk the lightning freaked me out just a little. You're out there walking in the dark rain when all of a sudden its like somebody set off several flash bulbs in your face, that was the sensation. Fortunately I missed getting hit by a bolt.
At 8:30 a.m. futures are flat, the dollar is mostly down, and oil is slightly up.
The talk is now turning towards Germany approving a method that the E.U. can use to bailout troubled countries in the E.U. Other E.U. countries still need to sign on but Germany is a big deal with one of the world's largest economies one might suspect that the other countries will fall in line and sign as well.
So, allegedly and for this instant we are back to optimism about a Eurozone bailout.
CNN: Stocks prep for gains after German vote
At 8:30 a.m. futures are flat, the dollar is mostly down, and oil is slightly up.
The talk is now turning towards Germany approving a method that the E.U. can use to bailout troubled countries in the E.U. Other E.U. countries still need to sign on but Germany is a big deal with one of the world's largest economies one might suspect that the other countries will fall in line and sign as well.
So, allegedly and for this instant we are back to optimism about a Eurozone bailout.
CNN: Stocks prep for gains after German vote
Germany became the latest of the 17 countries in the eurozone to approve an overhaul of the European Financial Stability Facility, a bailout fund set up in the wake of the 2008 financial crisis.
...the third and final estimate of second-quarter growth...
Wednesday, September 28, 2011
Protests Gaining Traction
The NYT is giving voice to the new round of protest movements occurring throughout the world and right now on Wall Street with 'Occupy Wall Street.'
I could become a believer here because clearly nothing else is working and the ordinary person is not even in the political discussion really. The big deal in America right now is a high cost media war over increasing taxes on the elite rich, the little guy can't really see over the counter top.
NYT: As Scorn for Vote Grows, Protests Surge Around Globe
The low information conservative backlash sounds so familiar its almost comical. Truthfully, read the Daily News article below and pretend it was written by a very inside comedian trying to pull all the same old dumb strings in an effort to rally stupidity. Unfortunately, this thing is real.
The Daily News: Occupy Wall Street protesters are behaving like a bunch of spoiled brats
I could become a believer here because clearly nothing else is working and the ordinary person is not even in the political discussion really. The big deal in America right now is a high cost media war over increasing taxes on the elite rich, the little guy can't really see over the counter top.
NYT: As Scorn for Vote Grows, Protests Surge Around Globe
Economics have been one driving force, with growing income inequality, high unemployment and recession-driven cuts in social spending breeding widespread malaise.Now before we put this thing to bed, take a look at how the New York Daily News is taking on the 'Occupy Wall Street' protests.
The low information conservative backlash sounds so familiar its almost comical. Truthfully, read the Daily News article below and pretend it was written by a very inside comedian trying to pull all the same old dumb strings in an effort to rally stupidity. Unfortunately, this thing is real.
The Daily News: Occupy Wall Street protesters are behaving like a bunch of spoiled brats
This bunch ought to get down on their knees in thanks that America's capitalist Founding Fathers saw fit to protect the privileges of the dumb and obnoxious along with everyone else.
They should also salute the NYPD and all its officers for paying diligent attention to ensuring that peace and harmony reign in their daze of rage.
Preventing The Recession
We could take the article posted below and plaster it on every single square inch of America and it would not make the slightest dent in the ideological marble lodged in the minds of the Tea Party and its low information supporters.
Some might even say the Tea Party is fully aware that a sturdy jobs plan injected into the miserable economy at this juncture would prevent recession, and that is precisely why the Tea Party will not support it. The Tea Party wants a recession because they also ideologically believe that is the way to sink Obama in 2012.
Its pretty effed up.
Bloomberg: Obama Plan Prevents 2012 Recession: Economists
Some might even say the Tea Party is fully aware that a sturdy jobs plan injected into the miserable economy at this juncture would prevent recession, and that is precisely why the Tea Party will not support it. The Tea Party wants a recession because they also ideologically believe that is the way to sink Obama in 2012.
Its pretty effed up.
Bloomberg: Obama Plan Prevents 2012 Recession: Economists
The plan “prevents a contraction of the economy in the first quarter”...
DOW Closes Lower
The DOW closed at 11,010.90 dropping 179.79 points.
So much for optimism over the Euro-debt crisis.
CNN: Stocks: Investors stage retreat
So much for optimism over the Euro-debt crisis.
CNN: Stocks: Investors stage retreat
Surprise
Robert Parry examines the details and people within the "October Surprise."
It reads like an espionage novel except its not fiction.
AlterNet: Taking a Bush Secret to the Grave
It reads like an espionage novel except its not fiction.
AlterNet: Taking a Bush Secret to the Grave
Christie And Koch
The radical right is in a draft Christie mode. He seems like the person who will soon emerge to run against Obama. It would be a wise choice for the Tea Party considering he is wedged in the Northeast and would possibly disrupt voting penchants in the area.
Considering how the trend of the country is going in terms of limiting and suppressing unions, removing corporate regulations, and juicing the economy to pay huge profits to the elite rich, (Christie loves Reagan and Reagan loved trickle up) he's perfect. He will do an excellent job of continuing the hollowing out of the American middle class and reducing America, minus corporate America of course, to a third world impoverished infected country.
AlterNet: Why the Kochs Want to Make Chris Christie President
Considering how the trend of the country is going in terms of limiting and suppressing unions, removing corporate regulations, and juicing the economy to pay huge profits to the elite rich, (Christie loves Reagan and Reagan loved trickle up) he's perfect. He will do an excellent job of continuing the hollowing out of the American middle class and reducing America, minus corporate America of course, to a third world impoverished infected country.
AlterNet: Why the Kochs Want to Make Chris Christie President
...New Jersey Gov. Chris Christie made a pilgrimage in June to a Colorado gathering of wealthy right-wing donors convened by billionaires Charles and David Koch...
In one fell swoop, Christie compared a labor union representing federal workers to the Evil Empire and a terrorist state. And in citing Reagan's firing of the air traffic controllers, Christie surely meant an implicit comparison to the layoffs of thousands of New Jersey teachers whose school districts failed to implement the contract changes demanded by Christie.
"That's the first thing you need to do. Because dysfunctional governments are like the wet blanket on top of free enterprise and opportunity. Because all they do is layer regulation and taxes and burdens on all those people who just wanted opportunities to use their God-given gifts and their ambition and their vision to try to improve their lives and through that, improve the lives of other people."
The Market On Wednesday
Good morning. It is 68 degrees, cloudy, and lightly rainy here in Upstate NY. This morning was my jog instead of walk exercise day. It went well. The old battered knee is holding up. A few years ago I displaced the knee somehow and after rehabbing it, the knee is doing okay. I'm out there jogging around in the dark basically, the early morning light is shrinking as well. I saw several other fellow joggers and joggers are friendly to fellow joggers. They understand the shared pain and so lots of greetings were exchanged.
At 8:15 a.m. futures are moderately higher, the dollar is mostly down, and oil is down.
Enthusiasm for a Greek bailout plan is literally contagious right now.
Let me add a sobering note here. None of this stuff is anything more than what is being suggested on paper. No bailout has come to pass and no Eurozone debt has been appeased or taken care of. The point is that we are still dealing with a hypothetical situation and if you recall, this is a repeat performance from previous months where a bailout was also pending.
Long story short, do you not put your eggs in the Eurozone is out of trouble basket just yet. Its the long haul that counts not some two day optimism meme.
CNN: Stocks: Europe enthusiasm growing
At 8:15 a.m. futures are moderately higher, the dollar is mostly down, and oil is down.
Enthusiasm for a Greek bailout plan is literally contagious right now.
Let me add a sobering note here. None of this stuff is anything more than what is being suggested on paper. No bailout has come to pass and no Eurozone debt has been appeased or taken care of. The point is that we are still dealing with a hypothetical situation and if you recall, this is a repeat performance from previous months where a bailout was also pending.
Long story short, do you not put your eggs in the Eurozone is out of trouble basket just yet. Its the long haul that counts not some two day optimism meme.
CNN: Stocks: Europe enthusiasm growing
The Finnish Parliament approved the proposed overhaul of the European Financial Stability Fund...
"...a deal certainly appears to be in the works whether they admit to it or not..."
Oil for November delivery slipped 72 cents to $83.73 a barrel.
Tuesday, September 27, 2011
Rebuild
Robert Reich points out that American dollars are the world currency of choice given the collapse of the Euro and slowing growth in China and that it is cheaper than ever for America to borrow. This points to one conclusion - borrow money and put Americans back to work on the crumbling infrastructure. Won't happen though because the Tea Party holds Congress and has Americans believing in austerity measures or at least has low information Americans believing.
Robert Reich: Why This is Exactly the Time to Rebuild America’s Infrastructure
Robert Reich: Why This is Exactly the Time to Rebuild America’s Infrastructure
Cruel
Maybe we can make an exception for the idiot who just pulled some crazy stunt on the thruway but this is obscene...
BBC: Saudi woman to be lashed for defying driving ban
BBC: Saudi woman to be lashed for defying driving ban
DOW Closes Higher
The DOW closed at 11,190.69 gaining 146.83 points.
Reuters: World stocks, commodities jump on Europe optimism
Reuters: World stocks, commodities jump on Europe optimism
Parry On Taxing The Elite
Parry will take you through a concise history of how the rich got to be less taxed.
The main proponent of reducing taxes on the rich and the president who kicked it all of but good - Ronald Reagan of course.
The result of Reagan's malfeasance - the erosion of the middle class.
This is a good article to carry under one's belt when the taxing the rich question arises in a conversation with your low information conservative friends.
Consortium News: The One Answer: Tax the Rich
The main proponent of reducing taxes on the rich and the president who kicked it all of but good - Ronald Reagan of course.
The result of Reagan's malfeasance - the erosion of the middle class.
This is a good article to carry under one's belt when the taxing the rich question arises in a conversation with your low information conservative friends.
Consortium News: The One Answer: Tax the Rich
During Dwight Eisenhower’s presidency the top marginal tax rate – what the richest Americans paid on their top tranche of income – was around 90 percent. In the 1960s, under John F. Kennedy, that was lowered to around 70 percent, but that rate still meant the rich had a limited incentive to be greedy since they wouldn’t get to keep most of their extra money.
...in his (Buffett's) category (the rich) get to keep about 80 percent of what they make.
That has been replaced by a society of the greedy rich (surrounded by fairly well-compensated staff, including media and political propagandists) and then the rest of the country, facing lost employment, lost homes and lost hope.
The simplest answer to this national crisis would seem to be the restoration of the tax rates of the 1950s or the 1960s – as politically difficult as that might be.
The Market On Tuesday
Good morning. It is 61 degrees and cloudy here in Upstate NY. My early morning walk was ordinary but I could not help but notice a distant neighbor out there in the pre-7 a.m. hour mowing his lawn. One might be inclined to think that some neighbor of his was swearing a blue streak as they tried to sleep through the sound. Its suburban bourgeois irritation.
At 8:10 a.m. futures are significantly higher, the dollar is mostly up, and oil is up more than $2 per barrel. Right now the market is poised to open with a blast at 9:30 a.m.
Its not just an easing of woes about the European debt crisis type of day, its an optimism has returned about the European debt crisis day.
A new plan is emerging to write down debt in Europe and the world is abuzz with optimism.
In addition one of my own personal favorite pieces of economic data primarily because it lets us know exactly what we are, comes out this morning. That would be the Conference Board consumer confidence index this time for July.
Oh consumer, are you you confident? I alas am not confidently consuming.
CNN: European optimism to boost stocks
At 8:10 a.m. futures are significantly higher, the dollar is mostly up, and oil is up more than $2 per barrel. Right now the market is poised to open with a blast at 9:30 a.m.
Its not just an easing of woes about the European debt crisis type of day, its an optimism has returned about the European debt crisis day.
A new plan is emerging to write down debt in Europe and the world is abuzz with optimism.
In addition one of my own personal favorite pieces of economic data primarily because it lets us know exactly what we are, comes out this morning. That would be the Conference Board consumer confidence index this time for July.
Oh consumer, are you you confident? I alas am not confidently consuming.
CNN: European optimism to boost stocks
...a new plan to ease Europe's debt crisis was afoot.
...July consumer confidence index...
The Case-Shiller 20-city home price index...
Monday, September 26, 2011
DOW Closes Higher
The DOW closed at 11,043.86 gaining 272.38 points.
Reuters: Euro zone hope revives Wall Street optimism
Reuters: Euro zone hope revives Wall Street optimism
Class War
Allow me to insert a talking point here that I believe is relevant.
Whether or not we recognize it, accept it, or don't even believe it, everything within our world is demonstrably interdependently connected. This fundamental truth works on all levels, from the most subtle to the grandest canvasses of our existence.
Our happiness is dependent on the happiness of other people. Imagine spending a lifetime locked in a room with a thousand screaming crying people and you all the while trying to maintain a smile on your face.
Interdependence works on the environmental and economic levels. Society as a whole improves when everyone is prospering. We do not improve our society when half the population is in extreme poverty and only a few own everything, yet political systems insists that this is not true and that it is better to have a few own everything.
AlterNet: 6 Ways the Rich Are Waging a Class War Against the American People
Whether or not we recognize it, accept it, or don't even believe it, everything within our world is demonstrably interdependently connected. This fundamental truth works on all levels, from the most subtle to the grandest canvasses of our existence.
Our happiness is dependent on the happiness of other people. Imagine spending a lifetime locked in a room with a thousand screaming crying people and you all the while trying to maintain a smile on your face.
Interdependence works on the environmental and economic levels. Society as a whole improves when everyone is prospering. We do not improve our society when half the population is in extreme poverty and only a few own everything, yet political systems insists that this is not true and that it is better to have a few own everything.
AlterNet: 6 Ways the Rich Are Waging a Class War Against the American People
1. Registering the Poor to Vote is 'UnAmerican'
2. Unemployment Benefits Have Created a 'Nation of Slackers'
3. You Can't Really Be Poor if You Have a Color TV!
4. Food-Stamps: 'A Fossil That Repeats All the Errors of the War on Poverty'
5. 'The Main Causes of Child Poverty Are Low Levels of Parental Work and the Absence of Fathers.'
6. Taxing Working People Less Than the Rich Is 'Perverse'
The Market On Monday
Good morning. It is 60 degrees and hazy sunny here in Upstate NY. I hope you had an enjoyable weekend and I hope your coming week is enjoyable as well. Through the weekend we worked and worked on this old house trying to shore up some major issues before the snow flies. The list of exterior house needs is down to just a few items. Now if only we can get some sunny days instead of the deluge of rain in recent weeks then all will be fine.
At 7:50 a.m. futures are modestly higher, the dollar is mixed, and oil is down.
We have two types of trading days in the last several months. That would be days when investors are fearful of European debt crisis woes and days when fears of European debt crisis woes are eased.
Today is an eased type of day, so far that is.
There was a big meeting through the weekend with representatives of major world economies working on how to fix Europe. Notice that Geithner was present and sounding the strong warning alarm. One gets the sense that the fan and the merde are getting closer and closer.
CNN: Stocks set for higher open
At 7:50 a.m. futures are modestly higher, the dollar is mixed, and oil is down.
We have two types of trading days in the last several months. That would be days when investors are fearful of European debt crisis woes and days when fears of European debt crisis woes are eased.
Today is an eased type of day, so far that is.
There was a big meeting through the weekend with representatives of major world economies working on how to fix Europe. Notice that Geithner was present and sounding the strong warning alarm. One gets the sense that the fan and the merde are getting closer and closer.
CNN: Stocks set for higher open
U.S. Treasury Secretary Tim Geithner sounded alarm, warning that the sovereign debt and banking crisis in Europe represents "the most serious risk now confronting the world economy."
Managers of American money market funds continue to pull money out of European banks, with the French banks feeling the biggest impact.
Sunday, September 25, 2011
Chomsky On Human Nature
He also breaks down the nature of conspiracy theories and talks about how to really enact change in the political landscape.
ZNET: Chomsky Sessions II, Science, Religion and Human Nature, Part II
ZNET: Chomsky Sessions II, Science, Religion and Human Nature, Part II
Twin Towers Collapse Explaination
A few days ago I posted on this story. In case you missed it, a scientist has pieced together many of the previously unexplainable features of the collapse that gave rise to various conspiracy theories.
It sounds plausible.
Live Science: New Twin Tower Collapse Model Could Squash 9/11 Conspiracies
It sounds plausible.
Live Science: New Twin Tower Collapse Model Could Squash 9/11 Conspiracies
Scandalous Tea
Looks like the Tea Party got caught with its hands in the old fix the election cookie jar in Arizona or so the allegation goes.
The fun cries out for more because it involves Russell Pearce the self proclaimed "Tea Party President."
AlterNet: Tea Party Scandal Explodes in Arizona Recall Election
The fun cries out for more because it involves Russell Pearce the self proclaimed "Tea Party President."
AlterNet: Tea Party Scandal Explodes in Arizona Recall Election
...a series of blatant efforts by his campaign supporters to fraudulently set up the sham candidacy of Olivia Cortes to undermine his main opponent’s support has unraveled into a damaging comedy of errors.
Coming Up On Wall Street
Good morning. It is 64 degrees and cloudy here in Upstate NY. I am hobbled by an aching lower back, too much heavy lifting yesterday, and so I am gingerly going about the morning. Clearly its time to put more effort into yoga. I spent many years studying and practicing yoga and then let it slip - not the best move.
Nothing in this excerpted article from Reuters would give one confidence that equities markets are stable or improving. Its just the opposite.
All of the demons that have plagued the markets for the last several months are still there and it also appears a few are ripening to their possible ugly conclusion. For example Greece heading into an economic collapse probably has become a higher likelihood in Vegas betting parlors.
Another stinker right now are lower earning estimates from S&P corporations with banks at the top of the list. Allegedly tech stocks are in a happier place.
So how far does it fall, and when does it turn around. Yea I wish I could predict that, but I believe that the turn around occurs several years down the line with high unemployment, selective inflation, selective deflation, paralyzed government with ideologue politicians, deficit issues, and the full range mess the standard diet.
Reuters: Earnings calls wake up to Wall Street pain
Nothing in this excerpted article from Reuters would give one confidence that equities markets are stable or improving. Its just the opposite.
All of the demons that have plagued the markets for the last several months are still there and it also appears a few are ripening to their possible ugly conclusion. For example Greece heading into an economic collapse probably has become a higher likelihood in Vegas betting parlors.
Another stinker right now are lower earning estimates from S&P corporations with banks at the top of the list. Allegedly tech stocks are in a happier place.
So how far does it fall, and when does it turn around. Yea I wish I could predict that, but I believe that the turn around occurs several years down the line with high unemployment, selective inflation, selective deflation, paralyzed government with ideologue politicians, deficit issues, and the full range mess the standard diet.
Reuters: Earnings calls wake up to Wall Street pain
Intense fear that global debt issues and stagnant growth cannot be resolved has pummeled market confidence in the past couple of months.
Over the last few weeks, analysts have cut earnings estimates for S&P 500 companies across all sectors except technology.
On Thursday, the government will release its final reading on growth of second-quarter gross domestic product. On Friday, August personal income and spending data will come out...
Saturday, September 24, 2011
Collision
We don't allow faster than light neutrinos in here, said the bartender. A neutrino walks into a bar.
Five Progs
Following the disastrous Tea Party Congress is an stressful exercise in and of itself. This bunch is responsible for more Pepto Bismol consumption than any three year old frozen pepperoni pizza reheated and consumed in one sitting. The Tea Party is nothing more than the most conservative and financially elite political entity out there. The Tea Party uses their low information followers as nothing more than political cannon fodder buffering their real intent from the world with Paul Revere costumes and platitudes about democracy.
I think the progressives have a chance in 2012 because seriously now we need some political relief and I think many get it.
AlterNet: 5 Progressive Candidates To Watch As the 2012 Campaign Heats Up
I think the progressives have a chance in 2012 because seriously now we need some political relief and I think many get it.
AlterNet: 5 Progressive Candidates To Watch As the 2012 Campaign Heats Up
4. John Waltz - “I want to introduce you to Democrat John Waltz, a movement progressive, who's taking on cartoonish plutocrat, Fred Upton, the Whirlpool heir who has always treated the district as though it were a feudal fiefdom. Upton, by inheritance one of the richest members of the House, was appointed to the SuperCommittee by his crony John Boehner because Republicans know he will never agree to anything sensible that can in any way help dig the middle class out of the economic mess the modern day Robber Barons, in their unparalleled greed, have created for the rest of us.”
Raining Satellites
There are about 20,000 pieces of "space junk" the size of this satellite, 13,000 pounds worth, orbiting the Earth. One piece falls back to Earth per year.
One would think that NASA and other space agencies could do a little bit better with getting this stuff out of orbit. These people are worse than someone who throws their used soda can on the sidewalk. Its a worse level of disregard for the environment.
Reuters: NASA satellite breaks up, plunges back to Earth
One would think that NASA and other space agencies could do a little bit better with getting this stuff out of orbit. These people are worse than someone who throws their used soda can on the sidewalk. Its a worse level of disregard for the environment.
Reuters: NASA satellite breaks up, plunges back to Earth
Friday, September 23, 2011
Banning The Last Meal
And ban the death penalty too.
BBC: Texas jails abolish last meals after uneaten banquet
BBC: Texas jails abolish last meals after uneaten banquet
James Edward Smith's request for "a lump of dirt" in 1990 was also turned down.
Booing The Gay Away
I would never waste my time on watching a Tea Party debate. Instead I will read the accounts.
Raw Story: GOP debate audience boos gay soldier
Raw Story: GOP debate audience boos gay soldier
Reich On The Economy
I am becoming a big fan of Robert Reich because he is clear as a bell.
Reich believes we are already into the double dip recession.
Also he clearly points out the fracture in theGOP/Tea Party. Wall Street Conservatives may not be able to accommodate the Tea Party's need for austerity and non stimulus. There is an entire year before the next presidential election and in that year Wall Street may not be prepared to sit around and wait while the stock market continues to flounder and fall. They want some action now and clearly there has to be another stimulus program now.
Robert Reich: When Will Wall Street Call for More Federal Spending?
Reich believes we are already into the double dip recession.
Also he clearly points out the fracture in the
Robert Reich: When Will Wall Street Call for More Federal Spending?
The “double dip” has arrived.
If this keeps up, we’ll have a showdown between establishment Republicans who understand what must be done — and who will support substantially more federal spending in the short term in order to goose the economy — and Tea Party zealots who refuse to face reality.
The Market On Friday
Good morning and welcome to the first day of Fall. Fall is here, the changes are slowly taking place and in this part of the country we enter a glorious period. There is one little problem though in that we have a stagnant rain pattern that will limit our clear crisp days for the immediate future. The weather patterns are changing and we are getting 7 days of rain in a row, 10 days of rain in a row etc, its a bit wearing on the soul. Its not that we don't like water, we just want to see the sun a little bit.
At 8:00 a.m. futures are relatively flat (?), the dollar is mostly up against world currencies, and oil is now trading in the sub $80 per barrel range which means gas should be much much cheaper but it isn't.
Following this Euro debt crisis for some time one gets the sense that the timbers put in place to prop this mess up are starting the crack. The dam is breaking up as it were. I suspect that in the next few months we are going to see an even stronger flavor of how this Euro mess will shake out and effect the US and global markets. The picture isn't pretty either. But I am just an observer, not an economic expert, so I could be full of it. I still think we go back into a recession, the political will to improve the economy especially and essentially coming from the Tea Party Congress is not in place. The Tea Party wants to sink Obama in 2012 and till that time - November 2012 - the economy remains flat as in its present state or it gets even worse and I would suspect worse.
CNN: Stocks: Fear continues to grip markets
At 8:00 a.m. futures are relatively flat (?), the dollar is mostly up against world currencies, and oil is now trading in the sub $80 per barrel range which means gas should be much much cheaper but it isn't.
Following this Euro debt crisis for some time one gets the sense that the timbers put in place to prop this mess up are starting the crack. The dam is breaking up as it were. I suspect that in the next few months we are going to see an even stronger flavor of how this Euro mess will shake out and effect the US and global markets. The picture isn't pretty either. But I am just an observer, not an economic expert, so I could be full of it. I still think we go back into a recession, the political will to improve the economy especially and essentially coming from the Tea Party Congress is not in place. The Tea Party wants to sink Obama in 2012 and till that time - November 2012 - the economy remains flat as in its present state or it gets even worse and I would suspect worse.
CNN: Stocks: Fear continues to grip markets
G-20 finance ministers attempted to inject some confidence...
...Deutsche Bank warned, in an interview with Reuters, that European banks could take bigger writedowns than expected on Greek debt.
...Moody's downgraded the credit ratings of eight Greek banks by two notches...
...fear continued to drive the world markets lower.
Oil for November delivery fell $2.18 to $78.33 a barrel.
Thursday, September 22, 2011
Al Jazeera - Obama: No Shortcut To Middle East Peace
The USA will not allow a Palestinian country. This is the long standing America policy. Obama is reiterating this long standing policy except he is adding on to it the prerequisite modern smiley face.
On The Troy Davis' Execution
It was a very disquieting evening for me, I was trying my best to not feel the tension and anxiety of the execution world drama. Anxiety never seems to help, it only adds distaste to an already bad meal.
The spin is that people are demanding that we take another look at the death penalty and to somehow build a momentum to re-evaluate it, maybe even end it.
AlterNet: The Long, Murderous Arm of the Law Has Killed Troy Davis
The spin is that people are demanding that we take another look at the death penalty and to somehow build a momentum to re-evaluate it, maybe even end it.
AlterNet: The Long, Murderous Arm of the Law Has Killed Troy Davis
Amnesty International director Larry Cox offered that, importantly, the massive movement that developed around this case offers an opportunity to question this country’s values. And it offers a chance to engage the many people who are repulsed that the state would murder in our names and yet remain silent about it. “We have to take people who were against the death people and never did anything about it,” Cox told Goodman, and mobilize them. “Now is the time.”
The Market On Thursday
Good morning. It is 67 degrees and rainy here in Upstate NY. The warmth is back but the rain continues with the forecast showing way more rainy days than sun logos. We are the new Seattle. I must admit to feeling a certain wretchedness surrounding the execution of Troy Davis and the neo-Nazi guy in Texas, both occurred last night. As I grow older my conviction about the death penalty decreases and I have to admit to being mostly opposed to the death penalty at this point. It is brutal, seriously it is the ultimate brutality. I would like to see our society do a better job of identifying the characteristics that cause people to murder and be violent and somehow with this great overwhelming population and variety of economic strata to somehow appease the need for violence, cure it as it were. Hey I can dream here.
At 8:20 a.m. futures are significantly down, oil is down over $3 a barrel, and the dollar is mostly up.
The market is destined to open with a major thud. We are sinking and the possibility of the DOW dropping 500 points or more in two days, yesterday and today, is very real. That is something to take note of.
Investors are displeased with the Feds 'Operation Twist.' The concern is that it will not boost the economy just keep it stagnant. The Tea Party must be applauding because in Tea Party world the worse it gets the better.
In addition Europe is producing less manufactured products and all is pointing to the Eurozone re-entering another recession.
I have said all along that I believe we are headed into another recession as well, and I am still not backing down. Now I am not an economist or any kind of authority, I am just an observer so my words are practically meaningless in the greater context.
CNN: U.S. stocks set to slide after global sell-off
At 8:20 a.m. futures are significantly down, oil is down over $3 a barrel, and the dollar is mostly up.
The market is destined to open with a major thud. We are sinking and the possibility of the DOW dropping 500 points or more in two days, yesterday and today, is very real. That is something to take note of.
Investors are displeased with the Feds 'Operation Twist.' The concern is that it will not boost the economy just keep it stagnant. The Tea Party must be applauding because in Tea Party world the worse it gets the better.
In addition Europe is producing less manufactured products and all is pointing to the Eurozone re-entering another recession.
I have said all along that I believe we are headed into another recession as well, and I am still not backing down. Now I am not an economist or any kind of authority, I am just an observer so my words are practically meaningless in the greater context.
CNN: U.S. stocks set to slide after global sell-off
"These measures (Operation Twist) can't make the economy worse, but neither, we think, will they make things much better..."
..."significant downside risks to the economic outlook, including strains in global financial markets"...
..."provides the strongest sign yet that the region (Europe) is on the cusp of recession..."
Oil for November delivery slipped $3.28 to $82.64 a barrel.
Wednesday, September 21, 2011
New Theory On Why The Towers Fell
First time I have read a plausible theory.
Raw Story: Did chemical reactions cause Twin Towers collapse?
Raw Story: Did chemical reactions cause Twin Towers collapse?
Troy Davis Scheduled To Be Executed At 7PM
There's a distinct anxious feel to the day knowing that the highly known Troy Davis execution will occur tonight.
This man is sitting in a cell aware of his coming execution. That is a rather weighty matter, hard to imagine the struggle he is presently experiencing.
The prosecutor is adamant, he believes that Troy's guilt is clear and that it is a case of a well done mediated campaign that has built a following of supporters for Troy.
All I know is that it feels pretty shitty.
CNN: Prosecutor says he has no doubt about Troy Davis' guilt
This man is sitting in a cell aware of his coming execution. That is a rather weighty matter, hard to imagine the struggle he is presently experiencing.
The prosecutor is adamant, he believes that Troy's guilt is clear and that it is a case of a well done mediated campaign that has built a following of supporters for Troy.
All I know is that it feels pretty shitty.
CNN: Prosecutor says he has no doubt about Troy Davis' guilt
DOW Closes Lower And 'Operation Twist'
The DOW closed at 11,123.94 dropping 284.72 points. Looks like 'Operation Twist' did not go far enough for investors to hit the big like button and bump the DOW up instead of severely deflating it.
Re: Operation Twist
Bernanke revealed the Feds revival of Operation Twist similar to a 60s policy which long story short is designed to lower long term interest rates.
The problem as far as I can tell is not that interest rates are too high and people are not borrowing as a result, the problem is employment is super bad, housing value is down, and the general fear of another recession sweeping in and re-destroying everybody's retirement/equities/401K/IRA's etc account is real and tangible. That's why nobody is borrowing.
Given all that with mortgage rates presently around 4% for a 30 year fixed, it looks like even that could get improved upon in the next few months. Hey 3% and I am definitely going to re-fi provided I can or could.
CNN: Federal Reserve launches Operation Twist
Re: Operation Twist
Bernanke revealed the Feds revival of Operation Twist similar to a 60s policy which long story short is designed to lower long term interest rates.
The problem as far as I can tell is not that interest rates are too high and people are not borrowing as a result, the problem is employment is super bad, housing value is down, and the general fear of another recession sweeping in and re-destroying everybody's retirement/equities/401K/IRA's etc account is real and tangible. That's why nobody is borrowing.
Given all that with mortgage rates presently around 4% for a 30 year fixed, it looks like even that could get improved upon in the next few months. Hey 3% and I am definitely going to re-fi provided I can or could.
CNN: Federal Reserve launches Operation Twist
The intent is to thereby push down interest rates on everything from mortgages to business loans, giving consumers and companies an additional incentive to borrow and spend money.
DOW Lower At Noon
In the noon hour the DOW is down 49 points.
Re: Bernanke -
The Tea Party is a little scared here, they are afraid more stimulus will actually spur the economy along ever so slightly and therefor make it more difficult to beat Obama in 2012. The Tea Party is perfectly happy and willing to let the economy tank further. Austerity measures have never worked and they are not going to work now. The Tea Party wants the economy to tank.
CNN:GOP Tea Party to Bernanke: No new stimulus
Re: Bernanke -
The Tea Party is a little scared here, they are afraid more stimulus will actually spur the economy along ever so slightly and therefor make it more difficult to beat Obama in 2012. The Tea Party is perfectly happy and willing to let the economy tank further. Austerity measures have never worked and they are not going to work now. The Tea Party wants the economy to tank.
CNN:
Is It Real Or Is It Memorex
Discussion on the "reality" of Obama's new found progressive streak - where the hell was this type of presidential attitude back in 2009 and 2010. Maybe he's a slow learner, real slow.
AlterNet: Ready to Fight: Has Obama Finally Shaken Up Washington?
AlterNet: Ready to Fight: Has Obama Finally Shaken Up Washington?
“Obama confirmed... that he had entered a new, more combative phase of his presidency.”
The president and the Democratic leadership in Congress “pivoted” from an almost singular focus on deficits to the problems plaguing the real economy, and the media has pivoted right along with them.
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