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Back to the Future
The whole world seems to have traveled back in time. We once again have pirates sailing the seven seas and grabbing ships that are worth fortunes – $100 million worth of oil to be exact. The U.S. Navy which once fought the pirates of the Barbary Coast may soon engage the pirates of the Somali coast.
The financial world also seems to have traveled back in time, specifically to the 1930s. Fearful financial institutions are basically liquidating all assets around the globe and putting them into the US bond market. The bond market has now, in effect, priced in a depression…
24Nov2008 | Oxbury Research | 0 comments | ContinuedObama’s Golden Opportunity: Return to Gold Standard
The Washington Times’s Lawrence Hunter wrote last week that U.S. President-elect Barack Obama has an opportunity to reset the economy and restore the U.S. dollar to its preeminence as the world’s reserve currency by reestablishing the gold standard. He writes:
First, the new president-elect should state his unshakable resolve to preserve U.S. sovereignty over its currency and economy. He must root his resolve in a declaration calling upon the Congress to exercise its authority under Article I, Section 8 of the United States Constitution to regulate the value of the dollar and maintain the standard by which the value of the…
18Nov2008 | The Gold Blog | 3 comments | ContinuedObama’s New “Economic Fuel”… and 7 Ways to Profit
Our next President will be faced with unprecedented challenges in health care, energy, global warming, an aging infrastructure and huge “legacy” automobile businesses that are teetering on the verge of bankruptcy.
He’s also being presented with an incredible opportunity… one that, if implemented correctly, could have profoundly positive effects on the economic health of the world, just when we need it.
For years, the engine that fueled global economic growth was the spending of the American consumer. Market crashes because of the dot-coms and the housing boom have left many individuals with too much debt and not enough money. Americans are…
14Nov2008 | Investment U | Comments Off | ContinuedGreat Expectations
“Great Expectations” is the title of a classic novel written by Charles Dickens in 1861. It is regarded as perhaps one of his greatest novels. The title “Great Expectations” can also be applied to President-Elect Barack Obama, our soon-to-be 44th President.
President-Elect Obama will be expected to cure our country’s economic ills and quickly. I believe that the nearly 1,000 point stock market sell-off this past Wednesday and Thursday was due to Wall Street ‘disappointment’. The cry-babies on Wall Street were disappointed that President-Elect Obama did not hit the ground running and immediately appoint the future Treasury secretary.
Speaking of the future…
10Nov2008 | Oxbury Research | Comments Off | ContinuedMoney Morning Outlook 2009: Obamanomics Offers Investors Plenty of Profit Plays in the New Year
With his landslide election victory Tuesday – coupled with Democratic gains in the House of Representatives and in the Senate – U.S. President-elect Barack H. Obama II will have the ability to pursue more or less any policy he wants.
For investors who have been trying to analyze the economic outlook for the New Year, the election of U.S. Sen. Obama (D-Ill.) provides a major piece of the forward-looking jigsaw puzzle that these analysts hope to assemble. That’s because the likely trends of the United States and other economies around the world – and the relative success of different sectors within those…
6Nov2008 | Money Morning | Comments Off | Continued2008 Presidential Election Maps: Obama takes key swing states
Barack Obama will be the 44th President of the United States Here are a collection of maps to show you how he did it:
Source: FiveThirtyEight
Source: FiveThirtyEight
States called so far that have flipped from Republican to Democrat (Iowa, Ohio, Florida, Nevada, Indiana, Virginia, and New Mexico) Here’s how the final 2008 Presidential Map is likely to play out with Missouri and North Carolina still too close to call.
2008 Presidential Election Results by county in swing states:
Virginia
Ohio
North Carolina
New Mexico
Iowa
Indiana
Colorado
Nevada
Government Won’t Extend $700 Billion Bailout Plan to U.S. “Big Three”
The U.S. Treasury Department has rejected General Motors Corp.’s (GM) request of $10 billion in assistance for its potential merger with Chrysler LLC after the Bush Administration decided it didn’t want to broaden its $700 billion financial rescue program to include industrial companies – or to play a role in a GM-Chrysler merger that could cost the U.S. economy tens of thousands of jobs, The New York Times reported yesterday (Monday).
Instead of direct financing assistance, it looks like the Bush Administration will speed up a $25 billion loan program that was approved by Congress in September and that’s aimed at helping automakers…
4Nov2008 | Money Morning | Comments Off | ContinuedElection 2008: Taking a Financial Flyer on the Race for the U.S. Presidency
A Portuguese online bank, Banco Best, is offering deposits tied to the results of the U.S. presidential election: If U.S. Sen. Barack Obama, D-Ill., wins the White House, Banco Best will pay 8% for the period between the deposit and Nov. 4; if Sen. John McCain, R-Ariz., wins, the bank will pay 2%. That reflects the general preference for Obama held in Europe; it’s worth noting that the bank’s not offering an equivalent deposit product biased the other way, which by all the rules of hedging it should be (opening branches in Arizona and Wasilla, Alaska, where demand might be expected…
15Oct2008 | Money Morning | Comments Off | ContinuedElection 2008: Who Will Get to Spend the $700 Billion?
By Martin Hutchinson
Money Morning
The market’s verdict on the $700 billion bailout was pretty clear: Stock prices started dropping the moment the bill was passed on Friday afternoon and continued to do so Monday, with the Dow Jones Industrial Average closing down 370 points for the day – after being down 800 points earlier that same day.
The economic effect is also pretty clear: Given that the bailout plan is being launched at a point when money is already tight – and that it pours $700 billion of our money into the most useless, toxic waste left over from the housing bubble –…
8Oct2008 | Money Morning | Comments Off | ContinuedElection 2008: A McCain Victory Won’t Mean Same Old Republican Story
One thing is clear about John McCain’s economic policies: They won’t be a mere continuation of George W. Bush’s policies. They can’t afford to be. While Bush’s tax cuts have been highly beneficial both to the stock market and to investors directly, the Bush Administration has taken what was a $150 billion federal budget surplus and transformed it into a $400-billion-plus deficit. That’s at a time when stock markets and real estate markets have been ebullient, producing lots of bonuses and capital gains to tax.
Most of the deficit increase has resulted from sloppiness on spending; only about one third of…
3Sep2008 | Money Morning | Comments Off | Continued
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