No Title because I can’t think of one. XD
March 30, 2009 at 9:56 am | In Economia | Leave a CommentTags: Business, Economy, oil
Yeah I realize that I didn’t do my weekly update on Friday. >.< 3 reports for school commanded my attention, and so that’s what I worked on. Still not completely finished, but I do have everything needed to write them up!
At this time, Obama has basically said “No Bailout Money” to GM and Chrysler. Dow and company don’t like that news apparently (At the time of this post.) So it seems the government wants to try a new route, with a “plan” to be unveiled at like 11 a.m. EST. Oh and GM boss quits. <.<
In other coolio news, oil is down. XD My medium-term prediction (next 3 months or so) is another run-down on oil. Storage capacity is overly full, so the cost for the companies to keep them there will soon be at the point where a discount sale price is needed to maintain some profit. But that may not mean lower gas prices this summer (It could lag behind the oil price for weeks), with distilling capacity also shrinking.
It’ll be an interesting week, up and down and all around is the attitude for the week. XD
Weekly Outlook~
March 20, 2009 at 7:50 pm | In Economia | Leave a CommentTags: Business, Economy, Stock Market
Week ended somewhat well for the stock market. XD So I was wrong, this week’s ending is 54.4 points higher than it was last week. XD Oil is still trying to find stable ground hovering at $48-$51 all week, though suppliers are having a really hard time finding storage, with ships acting as storage in some places. They’ll have to sell eventually, so “discount” oil may drive prices down. To me, the whole buy-our-debt that the government may do is a bad idea. XD What if the downturn is over, and this is the bottom? (Just saying) Inflation would put us back to square one again.
As for the AIG Tax of 90%, well that’s just wrong. If Congress takes their bailout money by retroactively taxing them to death, then what will prevent them from doing it to the average Joe (Scenario: We need to tax all pay at 50% to “pay” for this!) A proper way would be to deny bailout funds until the bonuses are paid back. Or maybe withholding 2x the amount of the bonuses from future payments.
Stocks and Oil end Down~
December 18, 2008 at 8:55 pm | In Economia | Leave a CommentTags: Economy, gas, oil, Stock Market
Hm, to best sum up the current market my choice of words is: Tumbling prices + Cheap Gas + Spending= ??? Outcome is uncertain, because people spending will just drive up the prices to levels seen this summer. Anyways, the DOW fell 200+ points, with the S&P and NASDAQ following suit.
This countered with oil dropping to $36 per barrel. Crude oil is said to have fallen anywhere from 60-75% (No one report is the same) from it’s Summer Highs. Meanwhile gasoline has fallen about 59% at the pump, and for 3 days it has been rose to $1.67.
Overall, the economy is has not reached it’s bottom yet. This downturn/recession (or whatever you want to call it) will last -in my opinion- until 2010, when stable growth returns. During next year, oil will stay low (Below $70 I think) and gas will probably hit it’s summer peak at $2.67/gallon before falling for the winter. Again that’s my speculation, it’s not perfect and not guarantee it’s correct at all.
Hovering at $70
October 30, 2008 at 7:46 am | In Economia | Leave a CommentTags: Business, Economy, oil
Due to the (in my opinion, dumb) move the Federal Reserve made, oil went up by almost $5 yesterday. Prices here have just went under $2/gallon here. It’s $1.96 at Wal-Mart to $2.01 at Shell. It was following the 30/40 rule quite well until now. When it was hovering around $60, it was $2, reflecting the 30 part of the rule. While it is still following it to a degree, if one uses the national average (Hovering around $2.55), it’s still gouging, though not as much as usual. Thankfully no one listened to OPEC cutting supplies.
At $70/barrel:
30- $2.33
35- $2.00
40- $1.75
Hopefully, this rate cut won’t have too much of an impact on the dollar. Cheaper oil will help and keeping it low will help immensely with consumers buying again. But it all ties back to speculators and the dollar. Keeping those two under control will help keep oil down.
Up and Down….
October 16, 2008 at 8:22 am | In Economia | Leave a CommentTags: Economy, Global economy, recession
I need to pay more attention to the markets. But life is getting in the way and the markets keep rallying and collapsing. The Dow is now well under 10,000. The Nikkei (Tokyo Stock Market) falling yesterday by more than 11%. Other loses include: South Korea (Down 9.25%), Hong Kong (Down 4.8%), Australia (Down 6.7%) and India (Down 4%).
http://www.msnbc.msn.com/id/27205974/
Rallies of over 100 points of the Dow should be exceptional, not the norm. Moving up 100+ points and then falling 100+ points indicate widespread uncertainty. And rallies/falls over a few bits of news is a lot worse.
Dow on Monday: Up 936
Dow on Wednesday: Down 733
Maybe it is time to suspend trading when falls are more than 5% or so. And with 300+ point moves looking like they are going to stay it may be time to just halt trading for a day or so. Time for a breather.
You know you’re in Debt when….
October 12, 2008 at 10:24 pm | In Film, libri e un certo roba | Leave a CommentTags: Debt Clock, National Debt, National Debt Clock, news
Yeah, the Debt Clock has run out of spaces for the amount of debt the U.S. has. I don’t know if it’s sad or more pathetic? $10 Trillion dollars, the highest in the world. It was started in 1989 when the debt was in the $2 trillion dollar region. So almost 20 years and 8 more trillions dollars later……
Inflation for Zimbabwe
October 9, 2008 at 8:40 am | In Economia | Leave a CommentTags: Economy, Inflation, Zimbabwe
If you think $3 for a gallon of gas is a sign of high inflation……($2.77/gal. where I live) then let’s look at the highest inflation % in the world:
231,000,000% Two hundred and thirty-one million percent. Wow
That’s up from 11.2 million % last month. Zimbabwe recently cut off a bunch off zeros from their currency, but it hasn’t helped any. Food prices are pushing up the inflation to numbers not seen since Yugoslavia’s inflation back in the 1990s. The government there can barely function (Power-sharing deal trying to take hold) let alone try and stop that inflation. 80% are estimated to be unemployed and the US dollar is being used in some areas because the Zimbabwe dollar is just worth so little.
It’s getting out of control and I personally think it’s time for Zimbabwe to ask for help. The sanctions on the country are only aggrevating the situation there, so maybe it’s time for neutral outsiders to get the government at least up and running so they can tackle their high inflation.
Interest Rate Cuts Everywhere!
October 9, 2008 at 8:20 am | In Economia | Leave a CommentTags: Economy, Financial Crisis, interest rates
It seems everyone wants a rate cut to help put more money out there for capital. I guess inflation just isn’t on the agenda yet:
Key Interest Rates around the Globe:
U.S: 1.5%
Australia: 5.00%
Canada: 3.00%
United Kingdom: 4.5%
Sweden: 1.5%
European Central Bank: 3.75%
South Korea: 5.00%
Hong Kong: 2.00%
Taiwan: 3.25%
Japan: Stayed the same at 0.5%
China: 7.20% (?) Uncertainy, I’ve seen 6.93% as well.
I personally expect more cuts to come as people begin to panic……Finding the rates took a surprising amount of time to compile to. XD The only one I couldn’t find was Switerland.
http://www.cnbc.com/id/26716083
http://www.forbes.com/feeds/ap/2008/10/09/ap5529521.html
http://news.bbc.co.uk/2/hi/business/7658174.stm
http://canada.homesgofast.com/news/bank-of-canada-cuts-interest-rates-I703/
http://www.ft.com/cms/s/0/6421b240-e238-11d9-84c5-00000e2511c8.html
All else aside…….
October 7, 2008 at 8:49 am | In Economia | Leave a CommentTags: Economy, Gas prices, oil
While everyone prays this financial crisis will soon be over (It won’t be over), there’s a silver lining in the clouds. Gas average for the nation is now below $3.50/gallon:
National Average: $3.48/g
Lower Atlantic states: $3.67/g
New England states: $3.39/g
Here in this little town in Missouri: $2.97/ gallon. People are estatic to say the least. I pay $2.57/gallon because that’s the ethanol price. Diesel still remains high though, here it’s $3.999.
Oil is hovering at $90/barrel now, it settled to $87.81/barrel yesterday. Overall: The average is Extremely high, and possibly gouging is occuring on a wide-scale basis right now as prices slowly come down.
30/40 rule: $90= Anywhere from $3.00 to $2.25. Middle ground being $2.57 for regular gasoline. We’re up 71 cents from a year ago (2.77 average) and oil barrel price is slighty cheaper than it was last year. Hm. Interesting…
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