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Wall Street Breakfast: Must-Know Newsby SA Editor Rachael Granby- Bank trio becomes duo. Wells Fargo (WFC) will become the largest U.S. bank by branches with its bid for Wachovia (WB), after Citigroup (C) withdrew from compromise negotiations late yesterday on concerns about the quality of some of Wachovia's assets. Wells Fargo, with a bid valued at $11.4B, expects the purchase to be completed by the end of the year, and denies it will have to absorb assets shakier than originally thought.
- Government considers next steps. As the financial crisis continues to worsen, the U.S. government is considering two dramatic steps to turn around, or at least slow, the damage: guaranteeing billions of dollars in bank debt and temporarily insuring all U.S. bank deposits. The moves, which would mark the government's most extensive intervention to date, are in discussion stages only.
- Credit stays frozen. As frozen credit markets refuse to thaw, the cost of default protection on corporate bonds reaches new global records amid investor concerns the credit crisis will trigger corporate failures as companies struggle to finance their businesses. Interbank lending remains limited, and borrowing from the Fed's expanded discount window continued its trend of setting new highs every week, as the total daily average rose to $420.2B vs. $367.8B last week.
- Oil demand withers. The International Energy Agency warned Friday worldwide oil demand...
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Oil Price- Oil Below $75: Increased Chance of OPEC Production Cuts by Money Morning
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- Jim Cramer's Picks -SampleBetter Choices - Cramer's Lightning Round (10/15/08)by SA Editor Rachael GranbyStocks discussed in the lightning round session of Jim Cramers Mad Money TV program,
Wednesday, October 15.Bullish Calls:Continental Resources (CLR) -- "This is a remarkable decline. All of the high quality ones are down so much, I can't go against it. This is where you pull the trigger.
3M (MMM) -- The moment this stock starts yielding 5%, I'm a buyer. Until then, keep your powder dry.Bearish Calls:Computer Sciences (CSC) -- This is a company that was going to be bought, but they passed up the chance. Now I don't want to buy it."Email continues...
Annaly Mortgage (NLY) -- I think this is a business model that needs to borrow money. Definitively do not buy."
Northrop Grumman (NOC) -- You can't own the defense stocks right now. If I had to own one, I'd look at Lockheed Martin (LMT) with its good dividend. - Stocks & Sectors -SampleSeeking Alpha - Stocks & SectorsInternet
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New ETFs- First Trust Launches Infrastructure ETF with Global Reach by Index Universe
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US Market- An Outcry from Emerging and Developed Markets Alike by Jonathan O'Shaughnessy
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Oil Shocks, and What They Hold for the US Economy
If you say "..industry geologists greatly dispute this theory, and they're the one's getting paid to find the oil." you just need to ask yourself why is it so.
Who says they did not find the oil?
First, drilling and exploration is very expensive process which means it can be payed only by big companies. And nowadays they earn more than ever. Why would they drill and deliver more oil to the market? Why??
Isn't it more reasonable to deliver e.g. 1 million barrels for 130US$ per barrel rather than 10 million for 13US$ per barrel? This is a simple projection and am not taking the expenses and costs of everything else, of course. In such way with low cost and on long term they can deliver expensive oil to us and have us "on a leech".
This is also good moment for nuclear lobbies and their interests are considerable at the moment. Despite people are talking nuclear and oil lobbies are competitive, don't be fooled, they are playing the game together and as energy consumption rises there is plenty of room for all of them.
The real answer to them would be turn to saving energy mode, "green energy" and new sources of energy that could be used. Am not saying it is short term and easy and not expensive , but probably the only way...because on the other hand we have troubles with climate and global changes like global warming etc., already.
Some of the methods were found but carefully hidden from the public, because as it was said: "who has the energy rules the states and who has food rules the people".
Oil Shocks, and What They Hold for the US Economy
Could you, please, think about this?
Most of those who speak about oil prices forget that there is really no matter of demand-supply issue. Move back a little bit and think what happened with stocks. No need to go further than last few years.
There was a big boost in loans, especially mortgages and many people live above their possibilities. Companies and other market players all need to keep that direction if they want to stay competitive. Means all economy is based on spending more and more and that makes the most of the profits of companies.
On the other hand you have market players or we can say traders who "make" the market by pumping in the money.
And so...last few years stocks climbed to the tops of the tops. Normal thing is to correct the prices and then traders who earned millions (billions) go away and they put the money in commodities.
Don't be fooled, because they (market makers, investors and other participants) "make" the information and they have very sophisticated ways to present them to all of us, through media, politicians and some scientists.
Now what? Now when stocks have fallen and they made huge profits, they sell the commodities and search for new place to invest. Possibly into stocks which are much cheaper today than 2007 but also into some new "casualties"... like water supply, food (already did), real estates etc.
At the end just 1 note:
Please read Siegfried's Tischler, university professor of geology, articles and things connected to his statements:
Oil is not fossil fuel!!!
Sound strange and stupid when you read it for the 1st time...BUT!!!
The official theory is old and not ever changed because oil companies and other "big players" want you to believe that. But researches made in past 20 years showed the other source(s) of the oil and it is not so rare as we thought.
The truth is that We just need to pay for our ignorance and not using our brains just using and refining data that we got presented and not the data we got by our research or invention.
On the other hand, "big players' " greed for billions of our hardly earned US$ wants us to stay in such condition.
I am glad if "helped" at least 1 person to look the things from the other perspective. Thanks!
All of the Motor-Fuel Alternatives to Conventional Crude Oil Stink
This is the view of people who are paid from oil companies and big capital or who haven't done real research and so couldn't be called real journalists.
Try to do research about only 2 brilliant man (and there have been more of them), Nikola Tesla and Wilhelm Reich and if you do you will find that they have found over 60 years ago cheap energy sources. After you find out very suspicious circumstances how they died, you can ask yourself, why FBI confiscated most of their unrevealed works after they have gone.
Today's governments want to control world by energy and food. Go back and find out H. Kissinger's strategy made over 40 years ago and then tell me.
And next time, please don't insult us common people with such superficial article. We have brains too!