U.S. Economy: More Record Job Losses to Come

T.G.I.M (Thank goodness it’s March).

Unfortunately, that’s what investors were saying when they closed the books on January and times have only gotten worse. The economy is weaker; the markets are lower; consumers are more frightened; and businesses of all shapes and sizes continue to struggle.

February brought a comprehensive stimulus package, a blueprint for a complete budget overhaul, and several bailout plans. At some point, these ideas by the smartest men/women the country has to offer have got to start working (don’t they?). Analysts will be working overtime as data from housing, manufacturing, and labor is set to be reported.  Bear…

Where Is Oil Headed?

The Price of Oil

Oil made two runs toward $150 recently, and failed both times. Now oil is in a retreat. Oil was trading near $121 earlier this week. And it appears that support at that price is crumbling. This will surely take the oil company stocks down, as well as those of the oil service companies.

Despite this recent drop in oil prices, BP (BP: NYSE) reported a 28% increase in second-quarter profits, led by surging energy prices. BP also announced that it would continue to fight for its interests in its troubled Russian partnership, TNK-BP. All of this bodes well…

Global Investing Roundups

WTO’s Global Trade Deal; Ford’s Lowered Expectations; Surprise Decline in Jobless Claims; Oil Drags on Hang Seng; Wider Loss for B&N; Big Oil Spends $1.3 Million in 1Q Lobbying; Bill Miller Joins Ichan in Pressuring Yahoo; IEA to Probe World’s Oil Supply; Medtronic Coughs Up $75 Million to Settle Suit.

• The World Trade Organization (WTO) has published a new draft of plans for a global trade deal that will be discussed the next time world trade ministers meet, BBC News reported. Although the plan doesn’t change existing tariff or subsidy cuts, it does offer some compromises and clarifies some key “sticking…

Big Oil’s Secret Impoverishment

The headlines seem to be rolling in nonstop for Big Oil: “Chevron Posts Record $17 Billion Profit. BP Profit Up 52%, Record $4.4 Billion Quarter.” And the giant among giants, “Exxon Mobil Reported All-Time Record $39.5 Billion Profit.”

We’ve all seen these headlines before and, sad to say, many investors bought into the hype. Both Chevron and Exxon Mobil shares have climbed more than 150% in the past five years. BP, despite constant problems with its pipelines and international operations, has scored a 50% gain in the past five years.

On the surface, it seems like a pretty safe bet, right? Big…