From the monthly archives:
It’s the weekend. You should go see the movie “I.O.U.S.A.” Some very smart people I know at Agora are deeply involved in the making of this movie. Here’s Roger Ebert’s review.
In Other News …
China’s Oil Thirst Hits New High
China’s oil demand growth hit a two-year high in July but the pre-Olympic [...]
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I just talked to the always-excellent Bill Caiaccio on CNN Radio. I made some notes for the interview, but of course, once we got talking we went off where his questions led us.
Here are my notes …
Geopolitical events are driving oil prices. Russia blocked the entrance to Georgia’s main oil port, and [...]
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The Wall Street Journal has a story today about the commodities pullback. They see it as a reason to stop worrying about inflation (not in so many words, but that’s the gist of the story). I think it shows a set-up for the next move higher. History will show who’s right. In the meantime, [...]
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My latest MoneyandMarkets.com column, “Gold in the Clouds,” is up. It’s about the Pikes Peak Gold Rush.
Flash forward to today, and there is some interesting news …
The World Gold Council reported that demand for gold rose 7% to 736 metric tons in the second quarter, compared with the first quarter.
Meanwhile, the [...]
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Tropical Storm Fay is dancing in my driveway — the rain is relentless and lightning is crackling around me so much the air is thick with ozone. But I shouldn’t complain too much. I looked at a weather projection for Vero Beach — a little to the North of us — and those poor [...]
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The dollar is running the show, and its rally should weigh on commodities in the short term.
And now some news you can use …
ENERGY
OPEC official says output cuts may be needed An Iranian official in the Organization of Petroleum Exporting Countries said Saturday [...]
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Man, this has been such a wild week, Friday couldn’t come soon enough. Let’s look at some charts, starting with one we’ve been following all week — the US dollar. The US dollar has definitely broken above that weekly downtrend. A pullback and test of that support wouldn’t surprise me. This breakout [...]
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Chart for the day … How do you like that trend?
In other news …
Astounding! Joe Kernan is sucking up to Erik Prince of Blackwater on CNBC this morning. Maybe next, Joe will interview Satan and lead off by saying: “Why are those holier-than-thou types so hard on you? You’re just doing your [...]
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US ECONOMY
Prices of Imports Climb 1.7%, More Than Forecast, on Weaker Dollar, Fuel Prices of goods imported into the U.S. rose more than forecast in July as a weaker dollar and higher fuel and food costs made foreign purchases more expensive.
XX Sean’s note — Import prices from China are up year over year, [...]
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Here’s what I’m reading today …
ENERGY
OPEC May Consider Supply Cut as Oil Stockpiles Rise, Iran Says Oil prices are falling because of an oversupply of crude, and OPEC may consider cutting production at its September meeting to achieve a supply-demand balance while maintaining sufficient excess capacity, Iran’s OPEC governor said.
IEA Raises Forecast for [...]
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