The "up-to-the-minute Market Data" thread

reply to post by Cabaret Voltaire


Breadth/ A/D Stocks etc.

Things like this make me think we are going to make this move soon CV - really nothing technical backing up anything for a bearish case right now..

Perhaps would be wise to hedge with some 3x bull for now?

GL

States may hold onto tax refunds for months

Yay.

Several residents in McLoud are upset after the city announced a $17 water bill for residents who use a well.

And so it begins, a tax on rain!

Chinese Prime Minister Wen Jiabao has rejected pressure by the US and a number of other nations for a faster appreciation of the Chinese currency.

“A country’s exchange rate policy and its exchange rates should depend on its national economy and economic situation,” DPA quoted Wen as saying on Sunday.

China May Face ‘Massive’ Bank Bailouts After Stimulus Program

[edit on 14-3-2010 by Vitchilo]

Social Security to start cashing Uncle Sam's IOUs

PARKERSBURG, W.Va. – The retirement nest egg of an entire generation is stashed away in this small town along the Ohio River: $2.5 trillion in IOUs from the federal government, payable to the Social Security Administration.

It's time to start cashing them in.

For more than two decades, Social Security collected more money in payroll taxes than it paid out in benefits — billions more each year.

Not anymore. This year, for the first time since the 1980s, when Congress last overhauled Social Security, the retirement program is projected to pay out more in benefits than it collects in taxes — nearly $29 billion more.

In Canada, it's the same thing. We are so screwed. There's way more people taking retirement than there's young people to pay for their benefits. And we have ``socialized medicine`` and this too is going bankrupt.

I would not be surprised in the near future if they PRIVATIZED it...

Greekonomics: a country in crisis

Bars, restaurants and theatres may still be busy, and Europe may be bailing them out, but Greeks remain furious about their broken economy, clannish politics and corrupt society

GREEK PEOPLE are disillusioned, bitter and frightened by a financial meltdown that has taken their country to the brink of bankruptcy. As anger mounts, the country’s dynastic political class is under fire.


“People want justice, they want somebody to go to jail. The corruption is everywhere. Not only should the ordinary people have to pay, but also the big people. Otherwise we will not resolve our problems,” says Alex Opuolos, a business analyst in his 50s.

+1

[edit on 14-3-2010 by Vitchilo]

[edit on 14-3-2010 by Vitchilo]

You wanna hear the trippity trip trips? Here it is. A friend of mine called me tonight and asked if I could come over and house sit and watch his dogs because he is going out of town until Tuesday. And wouldn't you know they put the recycling container out on the curb Sunday night and I've got to bring it in Monday night. Dude.

What is the cat going to be doing....?

www.google.com...

China retained its spot as the biggest foreign holder of U.S. Treasury debt in January although it trimmed its holdings for a third straight month. The string of declines are likely to underscore worries that the U.S. government could face much higher interest rates to finance soaring budget deficits.

The Treasury Department said Monday that China's holdings dipped by $5.8 billion to $889 billion in January compared to December. Japan, the second largest foreign holder of U.S. government debt, also trimmed its holdings but by a much smaller $300 million to $765.4 billion.

www.google.com...

The United States and Britain are more likely than Germany and France to witness an embarrassing downgrade of their top debt rating, agency Moody's Investors Service said Monday.

For now though, Moody's said the triple A governments don't face an immediate threat to their top ratings as the servicing of the debt remains manageable — the top credit rating reduces the interest payments countries have to pay on their debt when going to the bond markets to raise capital.

However, debt affordability is "most stretched" in Britain and the U.S., Moody's said.

IMO most likely sp500 scenario

chart

Finally some balls in congress, but not on the right economic issue.

130 Congressmen Join Paul Krugman's Campaign To Rid The World Of Chinese CNY Manipulation Once And For All, Consequences Be Damned

Mr Krugman seems entirely uninterested in the domestic political constraints facing China's leaders. He doesn't consider for a second the possibility that a bullying strategy on America's part might make China less likely to do what the administration wants. Why on earth would a nationalistic nation anxious to establish itself as great power want to come off to all observers as a weakling in the face of American bluster? Mr Krugman would paint China into a corner, forcing them to take steps detrimental to all involved.

Fed to hold rates.....





www.msnbc.msn.com...


money.cnn.com...

[edit on 16-3-2010 by freetree64]

Recovery is so here even Bernanke and Moody agree...NOT.

Moody's fears social unrest as AAA states implement austerity plans

The US rating agency said the US, the UK, Germany, France, and Spain are walking a tightrope as they try to bring public finances under control without nipping recovery in the bud. It warned of "substantial execution risk" in withdrawal of stimulus.

M1 Money Multiplier Still Crashing: Each $1 Increase in Monetary Base Results in Only 79 Cent Increase In Money Supply

Otmar Issing, the ECB's former chief economist, told an Open Europe forum in London that policymakers are entering treacherous waters. "Nobody can be sure that we have a self-sustaining recovery. The challenges facing the ECB are tremendous," he said.

"Money multipliers have collapsed everywhere. What M3 is telling us is that confidence is missing. I don't see any way to stabilise M3 in such circumstances," he said.[...]Since January 2009, the M1 Money Multiplier has crashed further, to .786 in the U.S. as of February 24, 2010: [...] The multiplier's decline "corresponds so exactly to the expansion of the Fed's balance sheet," says Constance Hunter, economist at hedge-fund firm Galtere. "It hits at the core of the problem in a credit crisis. Until [the multiplier] expands, we can't get sustainable growth of credit, jobs, consumption, housing. When the multiplier starts to go back up toward 1.8, then we know the psychological logjam has begun to break."

So yeah things are so nice right now...just kidding.

DWP rates may rise between 8% and 28% to pay for mayor's green initiatives.
In Los Angeles. Now if Cap and Trade passes, expect the same thing all across the nation.

And when they start talking about state default ON CNN, you know it's bad.

U.S. states: Running with the PIIGS

California : Size of Budget Gap : 49.3% , Arizona : Size of Budget Gap : 41.1%

Construction Unemployment Rate Hits 27.1% as Another 64,000 Construction Workers Lost Jobs in February 2010¸

Even in Canada it's pretty weak. One of my friend is working in the commercial construction business and he still doesn't work, he says it's the worst period he has ever seen.

[edit on 16-3-2010 by Vitchilo]

I'm not sure what 'austerity' measures Moodys is talking about. Greece is the only one to have even mentioned it and they're still dealing with the fallout. And the only reason they even tried that was because of not having their own currency to devalue.

Wishful thinking at Moodys because they know this round of collapse is going to reflect just as badly on them as the last. They're supposed to be AHEAD of defaults.

Yeah ahead of defaults... lol, like in 2008?

“The Euro will collapse either totally or in part” – MEP

TPTB will probably suck money from the EU population to bail out greece, the only thing that would change that is revolution.

**Anyone seen this yet????

Senators back bill to pressure China on currency
By MARTIN CRUTSINGER (AP) – 38 minutes ago

WASHINGTON — A group of 14 U.S. senators unveiled legislation Tuesday that seeks to increase pressure on China to let its currency to rise in value against the dollar, saying Chinese "currency manipulation" is hurting the U.S. economy.

The bill calls for stiff trade sanctions if China does not act.

Treasury Secretary Timothy Geithner says the legislation is a sign of how strongly China's trading partners feel about the issue. In an interview on Fox Business Network, Geithner said that he believes Chinese officials "ultimately will decide it is in their interests to move."

Geithner declined to respond directly to a question of whether the Obama administration would support the bill backed by Sens. Charles Schumer, D-N.Y., Lindsey Graham, R-S.C., Debbie Stabenow, D-Mich., and 11 other senators.

"We are sending a message to the Chinese government," Schumer said in a statement. "If you refuse to play by the same rules as everyone else, we will force you to."

He said the issue is of critical importance at a time of high unemployment in the United States.

"There is no bigger step we can take to promote U.S. job creation, particularly in the manufacturing sector, than to confront China's currency manipulation," Schumer said.

American manufacturers contend that China's currency is undervalued by as much as 40 percent and is a big reason for the huge U.S. trade deficit with China, which totaled $226.8 billion, last year, the largest imbalance with any country.

A stronger yuan versus the dollar would make American products less expensive in China, while making Chinese goods more expensive for American consumers.

The Obama administration is hoping China will resume allowing its currency to rise in value against the dollar as a way of narrowing that gap. China allowed its currency to appreciate until mid-2008 when the global recession began to cut sharply into its exports.

The Senate bill marks the latest escalation in tensions between the two nations.

Chinese Premier Wen Jiabao on Sunday rejected American pressure on China to allow its currency to rise in value against the dollar, saying such efforts amounted to a kind of trade protectionism. His comments came after President Barack Obama in a trade speech last week said that China would make an "essential contribution" to rebalancing the global economy by moving to a more market-oriented currency regime.

On Monday, a group of 130 House members sent a letter to the administration urging the Treasury Department to cite China as a currency manipulator in a report that is scheduled to be released next month. The group also called on the Commerce Department to impose trade sanctions on China on the basis that its currency system is an unfair trade practice.

Asked about the upcoming currency report, which the administration is required to send Congress in mid-April, Geithner said it had not yet been decided whether to cite China as a currency manipulator.

Such a finding would trigger talks between the two nations with a threat of trade sanctions if the talks failed to resolve the issue. The Obama administration, following the lead of the Bush administration, has so far refused to cite China as a currency manipulator, believing that the more productive course would be to convince the Chinese that it is in their own interests to allow their currency to rise in value.

Geithner said he believes that China needs to realize its currency policy is "not just an issue between China and the United States, it's an issue for the world economy as a whole."

The issue is a complex one for the United States because China is the largest foreign holder of U.S. Treasury bonds. The United States must depend on foreign investors to keep purchasing those bonds at a time when it is running record federal budget deficits, including a $1.4 trillion imbalance last year.

Copyright © 2010 The Associated Press. All rights reserved.

US calls China currency manipulator! Pot meet Kettle.

So the latest is that we'll get them to devalue their dollar holdings for us by 're'valuing their currency, meanwhile we will devalue those holdings yet again with QE, I mean currency manipulation. Then, we'll ask them to continue buying our debt issuance as well. This isn't going to end well folks.

Producer prices post biggest drop in 7 months

Quarter of adults out of work, official figures show

Yeah recovery is here!

Bank of England warns families to expect fall in living standards

Finally some good news... oops I meant HONEST news.

New York State Tax Refunds Put On Hold

Another sign of recovery!

China in midst of greatest bubble in history

Yep, they are cooking the books too.

[edit on 17-3-2010 by Vitchilo]

Schiff : The crisis starts now!

AP IMPACT: Gov't bank auditors got big bonuses
AP IMPACT: Gov't bank regulators got big bonuses despite missing warnings signs of crisis


finance.yahoo.com...

[...]
During the 2003-06 boom, the three agencies that supervise most U.S. banks -- the Federal Deposit Insurance Corp., the Office of Thrift Supervision and the Office of the Comptroller of the Currency -- gave out at least $19 million in bonuses, records show.

Nearly all that money was spent recognizing "superior" performance. The largest share, more than $8.4 million, went to financial examiners, those employees and managers who scrutinize internal bank documents and sound the first alarms. Analysts, auditors, economists and criminal investigators also got awards.

After the meltdown, the government's internal investigators surveyed the wreckage of nearly 200 failed banks and repeatedly found that those regulators had not done enough [...]

~ hmmmmmm.....


If you read more of the (little noted/publicized) article, you'll see the bonuses were tiny in comparison to the Banksters & Brokers in the private sector (much, much smaller, as in $3,000. VS the million dollar average at GS, et al)

and i thought the good-ol'-boy & Plantation mentality was limited to just
some of the old Confederate States...but, lo & behold, the whole system is
in disrepair & corroded from top to bottom, the Boards approve bonuses so they in turn will get increases in compensation at the Boards they sit on...
Pontius Pilate set the standard & who am i to judge...

Max Keiser's Latest

Originally posted by GreenBicMan
IMO most likely sp500 scenario

chart

I agree the next move is downward. I just think it will take the 20 touching the 50 before it reverses upwards again. That should be somewhere in the 1100 range.

I didn't think Bernanke could sink lower... but again, he surpass himself.

Bernanke Wants to Eliminate Reserve Requirements Completely

Dude? Really? The banks were already running at 80 for 1 in their reserves, but now you want to make it even worse?

This guy is a financial terrorist.