From the monthly archives:
Calculated Risk informs us that the national debt is going to surge over $10 trillion today.
As of Sept 29th, the debt was $9,945,578,231,981.59
Partly to blame is the Supplementary Financing Program (SFP) that the Treasury is using to raise cash for the Federal Reserve’s liquidity initiatives. For example, while the bailout package failed [...]
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Oil falls to near $103 on concerns US bailout package won’t halt global slowdownOil prices fell to near $103 a barrel in Asia Monday on concern that economic growth will slow across the globe despite a tentative agreement in Washington on a $700 billion bailout package [...]
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Here’s a chart I was unable to include in the Red-Hot Commodity ETFs issue that went out this morning. Naturally, when I’m trying to send out an issue, there’s a computer problem.
If you think the US dollar has another leg down — and I do — then GLD shows real potential. If [...]
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Apparently, House Republicans are in open revolt against the Wall Street bailout plan put forth by the White House and Treasury Secretary Henry Paulson. Part of it may have to do with all the changes that the Democrats made to the plan to make it palatable to their constituents, like allocating 20% of profits [...]
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The world is watching what’s going on in Washington today, Friday and through the weekend, as Treasury Secretary Paulson, Federal Reserve Chairman Bernanke, President Bush and the US House and Senate try to hammer out a bailout package for Wall Street. I do believe it’s blackmail, but there are such things as successful blackmailers.
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According to a story in Bloomberg …
Barrick Gold Corp. Chairman Peter Munk said bullion prices will go higher, driven by large-scale buying by “major, major” holders of dollars who fear the effects of the U.S. government’s bailout plan on the currency. Central banks or sovereign wealth funds are among those likely [...]
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US Senate Passes Solar Tax Credit Bill Energy Conversion Devices, Evergreen Solar Inc. and Akeena Solar Inc. surged after the U.S. Senate passed a bill that would extend tax credits on solar power installations through 2016.
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As you know (if you’ve been reading the issues), I’m watching the US dollar closely. Let’s look at the daily chart again … Nothing is certain, but I do expect the US dollar to go lower from here.
Meanwhile, I did an interview with Phil at HoweStreet.com yesterday. You can listen to that [...]
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Mexican oil production falls 9 percent Mexico’s state-run oil company says output fell 9 percent to 2.83 million barrels a day in the first eight months of the year. Petroleos Mexicanos says sagging oil production is due a drop at its main Cantarell oil field. Output there was down by 26 percent to 998,000 [...]
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I had a longer post but Compendium is being twitchy this morning. Se la vie. You’ll find the charts interesting, though.
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