From the monthly archives:
The US government is bankrupting our economy by burning through hundreds of billions of taxpayer dollars in the form of bailouts to Paulson and Cheney cronies. American Express is getting bailout money?Seriously? American Express could vanish off the face of the Earth and we’d hardly notice. I think it telling though, that American [...]
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Here are some stories on the latest developments in ETFs and ETNs …
Investors Sour on Exchange-Traded Notes
Investors yanked about $460 million from the 90 ETNs tracked by fund researcher Morningstar in September, a chunk of their $5.5 billion in overall assets. October figures aren’t yet available, but an early snapshot suggests they [...]
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More on the China Stimulus Plan …
$586 billion is a massive number for an economy the size of China’s. Recall our first stimulus package here was $150 billion, and a second that is assumed to total $300 billion is under discussion. China’s economy on a purchasing power parity basis is estimated to be about [...]
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Today, copper prices fell the most in two weeks on speculation that the slumping global economy will continue to cut consumption of industrial metals. Yesterday was another story. Copper bolted higher by 3.2% after China announced a $568 billion stimulus package over the weekend.
But while China’s announcement gave the market an initial rally, it [...]
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Today I watched with morbid fascination as the price of oil hit a 21-month low of $59.10 only a few hours after trading above $65. The amusement came from the market’s realization that China’s $586 economic stimulus plan wouldn’t do squat to prop up weakening demand for crude.
Oil prices had also been supported two OPEC [...]
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I spent the weekend at the Washington D.C., Money show. The show has shrunk from last year, and the opinions ranged from “this is an incredible time to buy” to “Aaaaaaiiiiiii!!!!!” I’ll have more about that in Wednesday’s Money and Markets column.
This morning, the market is rising on news of a $586 stimulus plan [...]
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The morning rally in gold has faded. The market is going downhill in a hurry. Whatever bounce associated with the election seems to be fading.
Barack Obama’s Yuan Calls May Place U.S. on Collision Course With China Barack Obama’s calls for changes in China’s yuan policy may put the president-elect on a collision course [...]
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If you subscribe to one of my premium services, you’ll have noticed that we’ve added a bullish gold position or two lately. Let’s look at a daily chart of gold to see why. You can see that gold is still channeling lower, but has touched the bottom of its recent downtrend. When [...]
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Crude oil is up about $7 a barrel as I write this. What the heck is going on? I’ll show you. First, we have the bearish outside reversal in the U.S. dollar. Since crude oil (as well as gold) is priced in dollars, as the dollar goes lower, crude tends to go [...]
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