The importance is dependent on your perspective. Those people who are not borrowing money to spend are thus suffering the pangs of a lowering of their lifestyle, which depended on borrowing money to spend;
September 29th, 2009 | Mogambo Guru | 1 comment | ContinuedAll Posts Tagged With: "oil"
Arable Farmland More Precious Than Gold
There is another candidate for “largest Chinese investment in Australia ever.” But this time, it involves an asset that is arguably more strategic than oil and more precious than gold. But before we get to that little drama in the Australian share market (and the five-year opportunity it represents), spare a thought for gold.
September 29th, 2009 | Dan Denning | 13 comments | Continued
We Don’t Expect to See Australian Banks Suddenly Keen to Expand their Loan Books
Maybe this will sound like a bunch of whining by the end of the week. After all, three of the big four Aussie banks will report results this week. There will be billion dollar cash profit figures tossed around. But as we said last week, the earnings performance of financial firms in the last six months is a sham.
September 28th, 2009 | Dan Denning | 5 comments | Continued
A Deep-water Oil Find Off the Coast of West Africa
About twenty minutes later we found ourselves tucked away in Café Paradis reading about the latest deep-water oil find off the coast of West Africa. The positive drilling results in the Venus well off the coast of Sierra Leone are not far from the Jubilee field Ghana, which is Africa’s largest deep-water oil field. It could be, so the experts say, the next big off-shore oil bonanza.
September 18th, 2009 | Dan Denning | 3 comments | Continued
Buying Oil on Sale as U.S. Dollar Gets Weaker
Oil did move up overnight in the futures market to US$71.94. And locally, there was more positive news for energy and energy stocks. Bloomberg reports that, “LNG sales from Australia’s biggest resources project may reach A$300 billion over its first 20 years.”
September 11th, 2009 | Dan Denning | 2 comments | Continued
Cash for Clunkers Cars
This is a subject which is very interesting to me because I happen to be a guy who owned a whole series of clunker cars and trucks over the years because I couldn’t justify the expense of a new vehicle/a good vehicle/a better vehicle/a vehicle…
September 8th, 2009 | Mogambo Guru | 4 comments | Continued
The New Normal: Where the Government Plays a Significant Role in Controlling the Economy
In the “old normal” view – preached by politicians left and right and amplified by a compliant media and a smarting financial industry – you should go back to doing what you were doing before. Have a short memory. Buy stocks automatically because they always go up. Get a mortgage and buy a house, perhaps even a second one. Spend money. The government will make more.
September 4th, 2009 | Dan Denning | 17 comments | Continued
China and its Perplexing Investment Strategy
But let’s start with sovereign wealth fund of China, the China Investment Corporation (CIC). CIC was set up in 2007 with US$200 billion of China’s nearly $2 trillion foreign exchange reserves. It’s been shopping ever since, with mixed results. Last year, for example, CIC stood pat and only invested US$4.8 billion outside China.
September 3rd, 2009 | Dan Denning | 2 comments | Continued
The Destruction of the Dollar by the Federal Reserve
Then, on the “quiet 23rd of December in 1913″, J.P. Morgan and buddies got Congressional quislings to pass legislation authorizing the creation of the Federal Reserve, and to which I add that the jerk Woodrow Wilson then signed it…
September 1st, 2009 | Mogambo Guru | 0 comments | Continued
Ben Bernanke Averts a Second Great Depression
According to the popular version, Ben Bernanke, our flawed hero, has averted a Second Great Depression. When the crisis came in ‘07-’08, he calmly took out the text he had written himself: “Dummies’ Guide to Avoiding a Japan-style Deflation”…or something like that.
August 31st, 2009 | Bill Bonner | 1 comment | Continued