Latest News - Some Facts and Figures to Digest

I spent 10 hours on the soccer field yesterday and in between my daughter's games I had a chance to at least skim the stack of papers I had not had a chance to read this week. ( moving, injury... long story) There are about 100 topics I would like to link to, comment on, write-about ....... not going to happen. BUT... I did jot down some facts that I want to share that get behind some of these key issues affecting the markets and the economy. Food for thought...

- The losses or injections of gov't money in to Fannie and Freddie is already $145 billion. Double the profit of the last 35 years.

- According to MBS 9.38% of ALL LOANS outstanding are delinquent as of Q1.

- US inflation year 4 year lows ( as it is reported by the gov't)

- A NY Police Officer retired at 44 having had a base pay of $74,000 yr and now gets $101,333 a yr for life, retired. ( NYT)

- Our National Household New Worth - $54 trillion ( 18% less then summer 2007) - NYT

- The Median Retirement Account Balance for Heads of Households ages 55-60 - $80,000 NYT

- The Median Annual Salary for Full-Time Workers with a 4 yr College Degree $55,656 (2008) NYT

-$140.5 billion - Net Foreign purchases of long-term US securities, minus open market buys in March. ( Barrons)

- US Reform Bill Clears Senate Hurdle this week

- Surprising jump in US jobless claims

- Germany surprises the market by banning naked short selling on certain instruments

- Bangkok burns and Thai protests spread after a crackdown

- Credit Spreads widening from post crisis tights

- Lots of news about the state and local budget problems - LOTS. "The Center on Budget and Policy Priorities estimates that this coming year alone states will face an aggregate shortfall of $180 billion. In some states the gap is more then 30%." (WSJ)

- The Hedge Fund dudes head to Washington to lobby against an increase in carried interest profits from the cap gains rate to ordinary income rates.

- Cost of going to Georgetown University next year - $53,006 (WSJ)

- Seth Klarman - legendary investor - Baupost Group - "More Worried then Ever." ( WSJ)

- Default rate on credit card loans 9.14% - highest rate since index began to be calculated in 2004.

- Oliver Stone's sequel to Wall Street debuts at Cannes Film Festival.

Markets

- S & P - 1087 week down 4.23% ytd down 2.46% 52 week up 22.63%

- 10 yr treasuries 3.2%

- limber down 30% over the past month

- Asian Markets lowest level in 9 months

- Canada/US dollar out to $1.07 after almost hitting parity again

- GE drops $5.8% - $16.26 share (thurs)

- Euro down 17% versus US Dollar since December

-Nikkei 225 Average closes below 10,000 for first time since Feb. (down 6.48% on week)

Off to pack...