The following article provides additional support to this view: http://www.reuters.com/article/bondsNews/idUSN3046323420080730 Mexico’s largest field, Cantarell, is in serious decline. Mexico is a major supplier of light, sweet crude (the type our refineries need). Enjoy the low price of gasoline while you can. There may be notable reserves in the ground, but they cannot be developed quickly. … Continue reading Did Peak Oil occur in May, 2005?
Have you ever noticed how stock prices move before announcements are made? Insiders cannot resist telling a secret. I suspect that 99% of the time they will not get caught. Occasionally, they system will produce a high profile prosecution to satisfy the American people and promote the view that the regulators and lawmakers must be… Continue reading Don’t be fooled by the madness!
It is unfortunate that we must read articles written outside the U.S. to get a more realistic view of what is happening in our own financial markets. National Australia Bank is writing off 90% of it American "conduit" loans. It clearly understands the need to cleanse its liabilities. In the corporate environment it is always… Continue reading G’Day Mate!
The "Bailout of Fannie Mae and Freddie Mac" may exceed $500 billion. The spinsters estimate $0 to $25 billion. The sad commentary in all of this is that the American public is not outraged at Congress for committing to this unbelievable bailout. I have the benefit of living in the Southwest in the 1980’s when… Continue reading Continued Recklessness: More Dominoes falling
The president and the chief financial officer (CFO) have a breakfast meeting. The president asks the question, "What will our earning be for the current quarter?" The CFO responds, "What do you want it to be?" That is the current reality in large financial institutions. This is not a new phenomenon. Top financial officers have… Continue reading "Cooking the Books"
This Presidential Election will not have a winner. Whoever is chosen will have a challenge never before seen by this country. There is a high probability that the standard of living of all Americans will decline substantially during this presidency. The country has been living on borrowed time, literally. Over consumption by all income levels… Continue reading The Next President will be the real loser
The economic crisis continues. Leaders continue to spin the statistics in order to manipulate the perception of consumers to believe “all is well” once again. The Fed has monetized bad debt from investment banks. What does that mean? They bought debt from investment banks that was deemed “illiquid”. Now this debt is sitting on the… Continue reading Insolvency!
On February 3rd of this year I posted: Personal Economic Defense Plan. Let’s review my recommendation: 5. Weight your stock portfolio to energy (oil & gas), gold, silver, & coppper stocks, and consistent dividend paying stocks. Chevron, Petrohawk, Goldcorp, Yamana Gold, Silvercorp, GE, Southern Copper, Penn West Energy are all stocks for your review (see… Continue reading Personal Economic Defense Plan Review