Archive for the 'Economy' Category
Oil Falls 5.4% in Biggest Drop Since 2004
August 23rd, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. A couple of days ago, during the crank rally in oil and gold, and the sell off of the dollar, I wrote: These moves look like very technical plays. I’d be extremely careful chasing gold or oil long here. These look […]
Sterling Tumbles as UK Economy Grinds to a Halt
August 22nd, 2008Via: Financial Times: Sterling tumbled on Friday as official figures showed UK economic growth ground to a halt in the second quarter of this year, strengthening fears the economy is already contracting. The Office for National Statistics revised its first estimate of second quarter growth by more than expected as it said output had been […]
A Few Speculators Dominate Vast Market for Oil Trading
August 21st, 2008Mmm hmm. Full text. Via: Washington Post: Regulators had long classified a private Swiss energy conglomerate called Vitol as a trader that primarily helped industrial firms that needed oil to run their businesses. But when the Commodity Futures Trading Commission examined Vitol’s books last month, it found that the firm was in fact more of […]
Wall Street Journal Claims U.S. Mint Has Stopped Selling American Eagle Gold Coins
August 21st, 2008Hmm. That’s interesting, because, as of right now, the U.S. Mint is still selling them online (with a hefty premium built in). There’s always a supply of gold coins for sale on eBay. If you want 1oz American Eagles, go to eBay and search for american eagle gold $50. It will be interesting to see […]
Oil Up, Gold Up, Dollar Down
August 21st, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. The business media is saying that geopolitical tensions between Russia and the U.S. and the ongoing credit/banking crisis are the drivers here. Maybe. To me, these moves look like very technical plays. I’d be extremely careful chasing gold or oil long […]
Mortgage Application Volume Hits Multiyear Low
August 20th, 2008If people can’t or won’t take out new loans, the chainsaw juggling that we’ve been seeing is about to get kicked up a few notches. Via: AP: Mortgage application volume fell last week to its lowest levels in nearly eight years, the Mortgage Bankers Association said Wednesday. The fall in application volume is the latest […]
Merrill Lynch, Wachovia at Risk of Failure
August 20th, 2008Via: CNBC: Merrill Lynch, Wachovia and other financial companies are at risk of failure as the cost of raising capital soars at a time when the banks need to pay settlements over auction rate securities, David Kotok, chairman & chief investment officer from Cumberland Advisors, told CNBC Monday. … “Those firms — Merrill, Wachovia and […]
WHOLESALE PRICES SURGE BY MORE THAN DOUBLE ESTIMATES
August 19th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. And, yep, not only is the dollar higher, the U.S. Dollar Index is at a one year high. The dollar is at a six month high vs. the euro. How can that be? FOREX participants might see Bernanke being forced to […]
Large U.S. Bank Collapse Seen Ahead
August 19th, 2008Via: Reuters: The worst of the global financial crisis is yet to come and a large U.S. bank will fail in the next few months as the world’s biggest economy hits further troubles, former IMF chief economist Kenneth Rogoff said on Tuesday. “The U.S. is not out of the woods. I think the financial crisis […]
Vaccine Nation
August 19th, 2008For most people, vaccinating themselves and their children seems like a good idea. Vaccines are safe, effective and are supposed to protect us against dangerous infectious diseases — Right? Wrong! What you don’t know can harm you or kill you! In this groundbreaking film, you will: * See the truth about the dangers of vaccines […]
