Hillary SoS official: 10:40 am EST; HRC and Gates
UPDATE 2: Excellent piece here by Politico, on HRC and Gates’ views based on an exchange b/w the two in 2006 confirmation hearings for Gates, a MUST READ..
Clinton: “Let me ask you, Dr. Gates, that in an oral history of the ’92 Gulf War produced by the PBS program ‘Frontline,’ you made some very definite points about how the military often overstates or even in your words, “’exaggerate the level of forces required to accomplish a specific objective.’ I’m concerned that’s precisely the attitude that we’ve heard from Secretary [Donald] Rumsfeld, former Deputy Secretary [Paul] Wolfowitz and others with regard to former Army Chief of Staff] Gen. [Eric] Shinseki’s recommendation and many in the uniformed military and civilian experts, who have consistently beat the drum that we don’t have enough troops, we never had enough troops.
“So therefore, how will you take that set of recommendations from your uniformed military on board and figure out how you’re going to assess it, given your previously stated position that it’s often exaggerated when we look at missions to accomplish?”
Happy Thanksgiving
content courtesy of UMLinus101
Dow Futures Down on Durable Goods..Home for the Holidays
UPDATE: 4:40 pm EST: Dow closed up 247, NAS up 67 to close over 1500 WOOHOO and S&P up 30.
Have a Happy Holiday!
DOW futures down sharply on the biggest drop in Durable Goods Orders in two years, down 6.2%.
A surprise pop in Personal Income up 0.3% is offset by the drop in Consumer Spending, down 1% in October
The first time Jobless Claims fell 14,000 to a moving avg of 529,000 last week…
The incoming Administration announces Paul Volcker will head up a new economic advisory panel and Austan ‘NAFTA’ Goolsbee will be the policy director of the panel…
Enjoy the Holiday!!
Terrorist Attacks in India: Mumbai..
UPDATE 2: 1:44pm EST: IBN now reporting the RAF may storm the hotel where hostages are being held.
- Colaba: Petrol pump blown up
- 10 killed in Colaba attack
- Gun battle outside Metro cinema hall
- Hotel Oberoi, Hotel Taj under siege
- RAF considering commando action, may storm hotels
- Local trains suspended
- Gunfire and grenades, the latest modus operandi of terrorists
- Roads in Mumbai completely deserted
- Terrorists still holed up at Nariman House (more…)
Markets sending the BAT signal to Obama…..
DOW down 122.26…..
He will be appearing live in 44 minutes
same bat time same bat channel as yesterday
CNBC has the countdown clock to his “economic announcement” running….
watch it here in 42 minutes and counting….
more AWFUL housing news:
New Home sales drop 5.3% in October (vs a rise of 0.7% in September) and Consumer Sentiment has fallen to a 28 year low..
Miracle on 34th Street and Market Update
UPDATE: 4:00pm EST: Markets close mixed, DOW up 37, NAS down 7, S&P up 5
With 90 mins of trading to go the DOW is down 139.55 to 8303.84; NAS down 38.25 and S&P down 14.
Methinks no one wants to go home for the holiday long these volatile and often traitorous markets..
Home Prices biggest drop ever..The Fed Steps in (finally)..TALF
If you are wondering why the sudden rush on housing and MBS, take a gander at the Case Schiller Housing Index this morning.
Low-lights of the report include: In the third quarter, the decline in the S&P/Case-Shiller U.S. National Home Price Index — which covers all nine U.S. census divisions — remained in double digits, posting a record 16.6 percent decline versus the third quarter of 2007. This has worsened from the annual declines of 15.1 percent and 14.0 percent, reported for the second and first quarters of the year, respectively.



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