Archive for the 'Economy' Category
GM Quarterly Loss One of the Biggest in Corporate History
November 7th, 2007Via: Yahoo / AP: General Motors Corp. posted a company record $39 billion loss in the third quarter, as a charge involving unused tax credits brought an abrupt end to string of three profitable quarters for the nation’s largest automaker. The loss reported Wednesday was one of the biggest quarterly corporate deficits ever and it […]
Soybean Futures Soar on Inflationary Buys
November 7th, 2007Via: FXStreet: Chicago Board of Trade soybean futures ended sharply higher Tuesday, rallying to 3-year highs on speculative led buying tied to inflationary fears. November soybeans settled 23 3/4 cents higher at $10.29 1/2 and January soybeans ended 23 1/2 cents higher at $10.44 1/2. December soymeal settled $7.70 higher at $284.60 per short ton. […]
EMERGENCY: DOLLAR EXTENDING VERY STRONG DECLINE, OIL $98
November 7th, 2007Via: Bloomberg: Crude oil rose above $98 a barrel for the first time in New York as the dollar tumbled to a record low against the euro and a storm disrupted output in the North Sea. BP Plc and ConocoPhillips evacuated oilrig workers, adding to concern that supplies may be insufficient. The U.S. Energy Department […]
Gold New High: $830
November 7th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. The shorts are being decapitated right here. I’ve got the chart open right now. No stories yet. If the shorts tap the mat and start to cover… Well, the chart will be suitable for framing. Even more suitable for framing, I […]
Possibly More Good News for Gold Bugs: Sentiment Remains Lukewarm
November 7th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. I’ve speculated that maybe we were seeing the public participation phase on gold. Well, maybe not. Maybe not even close. Excellent article here. Sums up a lot of late breaking information, and previous concepts covered on Cryptogon re: contrarian indicators. Via: […]
Foreclosure Wave Sweeps America
November 6th, 2007Via: BBC: A wave of foreclosures and evictions is about to sweep the United States in the wake of the sub-prime mortgage lending crisis. This could destabilise the US housing market and may also lead to further turmoil in financial institutions, who collectively own $1 trillion (£480.6bn) worth of sub-prime debt. Cleveland, Ohio, is an […]
EMERGENCY: DOLLAR
November 6th, 2007Europe might try to stop it here. EUR/USD over 145 is an emergency situation for them. I don’t know what their plan is, but expect them to try it soon. USDX is a hair over 76. They’ve got to do something right here. Via: Bloomberg: The dollar fell to a record low against the euro […]
Gold Bulls Gain Momentum
November 6th, 2007Gold has broken up and out of its 1 hour channel. The dollar is falling apart even more. Via: Reuters: Gold futures traded at their highest level in nearly 28 years on Monday, as renewed turmoil in the credit markets boosted the metal’s safe-haven appeal after Citigroup said it will have to write off up […]
Markets Fear Banks Have $1 Trillion in Toxic Debt
November 6th, 2007Via: Financial Times: A new phase in the credit crunch, one of “$1 trillion losses†seems to be dawning. The crisis at Citigroup and renewed doubts about some of the world’s leading banks disquieted stock markets on both sides of the Atlantic yesterday, with the fractious mood set to continue. The FTSE 100 fell 69.2 […]
Investing in Oil, Food, Alternative Energy, Gold or Water? Yes, All of the Above
November 6th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Over a roughly 24 hour period, I received four emails from readers with questions about investing in oil. (Has there been some specific event in the media that has touched off a lot of interest? Just curious. I don’t have a […]
