FEEL NO PAIN: INFLATION 'EASES' AS FOOD PRICES JUMP MOST IN 18 YEARS...
Wednesday, May 14, 2008
Tuesday, May 13, 2008
States use unclaimed property to finance budget shortfalls
States Seize Citizens' Property to Balance Their Budgets
States Seize Citizens' Property to Balance Their Budgets...
JPMorgan Chase Admits It Received a Multi-Billion Gift From the Fed
JPMorgan Chase Admits It Received a Multi-Billion Gift From the Fed...
Monday, May 12, 2008
Ron Paul's forces quietly plot GOP convention revolt against McCain
http://latimesblogs.latimes.com/washington/2008/05/ronpaulgop.html
Ron Paul's forces quietly plot GOP convention revolt against McCain
Virtually all the nation's political attention in recent weeks has focused on the compelling state-by-state presidential nomination struggle between two Democrats and the potential for party-splitting strife over there.
Friday, May 9, 2008
Oil breaks 126 all time high
- Crude oil hits all-time high $126.20/barrel May 9 on dollar weakness, geopolitical concerns about Nigeria and Venezuela, and hedging against credit crisis
- New record obliterates not only nominal high but inflation-adjusted high of $100-111/b reached in 1981 (when Iran cut exports)
- Since 2001, dollar price of oil and gold moved in tandem, rising >267% and >239% respectively
- Verleger: Price rise due to US adding sweet crude to Strategic Petroleum Reserve and related option hedging
- Spiegel: Thanks to fuel subsidies, real price not high enough to cut demand
- Upside risks: low inventories, higher cost of production (due to labor shortages, credit crisis, extraction of unconventional sources), growing demand supported by fuel subsidies, $ weakness, speculation, hedging
- Spike risks: weather, geopolitics
- Downside risks: recession bets, end of refinery maintenance, increased non-OPEC supply and refinery capacity, lower demand in spring
- Consensus estimate for average WTI price in 2008 raised from $76/b to $87/b (UniCredit $100; BNP $89; Danske $83.5; Standard Chartered Bank $82; Natixis $67.7; Barclays $97.70)
- NYMEX futures predict oil prices to remain above $100/barrel in 2008
"The politicians' response should be, 'Get used to it,'" said Novogratz of the emerging energy crisis now fuelled by rising oil costs. He was particularly scathing of Hillary Clinton's gas tax holiday, which he called "the stupidest idea I ever heard."... http://blog.wired.com/wiredscience/2008/05/only-greentech.html
Sunday, May 4, 2008
Saturday, May 3, 2008
Corn barely planted due to harsh weather
http://www.startribune.com/business/18351594.html
Snow plagues farmers as corn prices climb
Friday, May 2, 2008
Salmon fishing banned on West Coast
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/05/02/BABT10F7PE.DTL&tsp=1 Salmon fishing was banned along the West Coast for the first time in 160 years Thursday, a decision that is expected to have a devastating economic impact on fishermen, dozens of businesses, tourism and boating.
Thursday, May 1, 2008
Gold 850 – Mobius sees commodity boom continuing
http://www.zealllc.com/2008/glogold4.htm
http://www.breitbart.com/article.php?id=080430191254.lghbtwt2&show_article=1 Three Chinese banks in world's top four: study
Recent gold headlines from Kitco…
- Major May Day Meltdown - by Jon Nadler , May 1 2008 2:13PM Kitco Precious Metals and Economic Reivew - Historical Data Reveal Trends and Expectations - by Wendy Lynn Ip , Apr 28 2008 9:45AM Taking A Break - by Brien Lundin , Apr 30 2008 11:25AM The Ongoing Bull Market - by Mary Anne & Pamela Aden , Apr 28 2008 4:18PM Inflation Fears & Food Shortages - by James Turk , Apr 28 2008 11:00AM
Wednesday, April 30, 2008
Friday, April 25, 2008
Oil spikes on supply worries and Iran warning shot
Oil shortage in UK ahead of strike: 'Stations running dry'...
STUDY: Oil prices to double in next 4 years...
Oil Rises More Than $2 on BP Plan to Close U.K. Pipeline, Nigerian Output
Forex links…
www.openforexaccount.com – Open forex account with Elite E Services
Food Crisis spreads to US – Costco, Sams limit rice purchases
WSJ COLUMN: 'Time for Americans to start stockpiling food'...
HOLD THE RICE...
WAL-MART unit limits purchases...
COSTCO similar move...
http://www.bloomberg.com/apps/news?pid=20601087&sid=aU9xHQxBs1wU&refer=home Microsoft Demise! April 24 (Bloomberg) -- Microsoft Corp. declined 5 percent in extended trading after it reported an 11 percent drop in third-quarter profit and forecast earnings that may miss analysts' estimates as Windows software sales fell.
Net income dropped to $4.39 billion, or 47 cents a share, from $4.93 billion, or 50 cents, a year ago. Revenue was little changed at $14.5 billion, matching analysts' estimates and disappointing investors looking for more after industry reports showed better-than-expected demand for personal computers.
The world's biggest software maker said sales of Windows for PCs sank 24 percent and revenue from its online advertising unit came in at the low end of its projections. Microsoft's report contrasted with positive comments from chipmaker Intel Corp. and computer company International Business Machines Corp.
Wednesday, April 23, 2008
Tuesday, April 22, 2008
Euro breaks 1.60
Euro hits record high of over $1.60...
http://www.bloomberg.com/apps/news?pid=20601087&sid=aBTUUAwp9X1M&refer=home ``The ECB is certainly not easing in the near term,'' said Adam Boyton, a senior foreign-exchange strategist in New York at Deutsche Bank AG, the biggest currency trader. ``The euro-dollar will reach $1.65 in the next three to six months.''
Feed your mind http://www.wired.com/special_multimedia/2008/gs_03feedyourmind
Monday, April 21, 2008
Food Rationing at Costco while Rice explodes
http://nysun.com/news/food-rationing-confronts-breadbasket-world Many parts of America, long considered the breadbasket of the world, are now confronting a once unthinkable phenomenon: food rationing.
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