Hiding Bear Posted May 13, 2004 Report Share Posted May 13, 2004 Welcome to B4 The Bell! The ongoing rise in energy prices will exert an enormous ripple effect throughout the US and world economy. As discussed yesterday, wage earners and savers will have difficulty keeping their standard of living up. What will be the ultimate solution put forth in Washington to counter that? Greater deficit spending and monetary inflation. Count on it. But first we will see some weakness develop in the economy, both from higher energy prices and higher interest rates - mostly doing their work in the real estate sector. Will gasoline traders stand and deliver?: Gasoline Settles at Record High By LEAH MCGRATH GOODMAN DOW JONES NEWSWIRES May 13, 2004; Page C2 NEW YORK -- Gasoline futures leapt to a record settlement price as demand for the fuel surged to the highest level ever posted in May and inventories shrank to less than a month's supply. Gasoline set for June delivery on the New York Mercantile Exchange jumped 5.12 cents, or 3.9%, to settle at $1.3735 a gallon, after touching a record of $1.3750. The rally in gasoline also lifted June crude-oil futures by 1.8%, or 71 cents, to $40.77 a barrel -- the highest-ever settlement price seen in a front-month Nymex crude contract. "It's getting harder and harder to trade this market," said Scott Meyers, a senior trading anal cyst for Pioneer Futures Inc. in New York. "This is a huge, huge move. Nobody really wants to take a stand at these levels. People are afraid to buy and afraid to sell." The Energy Information Administration predicted this week that retail gasoline prices would reach a peak in June at $2.03 a gallon and average $1.94 through the driving season. Link to comment Share on other sites More sharing options...
DrStool Posted May 13, 2004 Report Share Posted May 13, 2004 It Takes Two, Baby Waiting For The Retest Your Golden Stool, including short and long term updated charts and price targets, is loaded. Even if you are not a goldbug, you should check out the Golden Stool. It's in your Anals daily. Take a subscribatory and download the Golden Stool RIGHT NOW! 30 Day Intro Subscribatory. Just $16.99! Get In RIGHT NOW! Link to comment Share on other sites More sharing options...
Guest Posted May 13, 2004 Report Share Posted May 13, 2004 The ongoing rise in energy prices will exert an enormous ripple effect throughout the US and world economy. As discussed yesterday, wage earners and savers will have difficulty keeping their standard of living up. What will be the ultimate solution put forth in Washington to counter that? Greater deficit spending and monetary inflation. Count on it. But first we will see some weakness develop in the economy, both from higher energy prices and higher interest rates - mostly doing their work in the real estate sector. Will gasoline traders stand and deliver?: How can the traders stand and deliver when the refining bottle-neck restricts supply. Verticle integration in the industry assures high pump prices. Link to comment Share on other sites More sharing options...
Henny Penny Posted May 13, 2004 Report Share Posted May 13, 2004 Stunning election defeat for India's BJP party. Oh - why should you care? Because this , to me, is at the leading edge of the political change that is going to sweep the globe. This is a vote against the yuppie, computer geek, dot com billionaire , wall street scammer culture. 380 million people said - screw that - give us the basics food, water, energy, infrastructure. 380 million people basically , as I see it, voted against the globalization wave that lasted the past couple of decades. And the likely candidate for prime minister is Italian born Sonia Gandhi. This is big news - and I think will spread - as more people express their disgust with a global elite run amok. Link to comment Share on other sites More sharing options...
Guest Posted May 13, 2004 Report Share Posted May 13, 2004 Stunning election defeat for India's BJP party. Oh - why should you care? Because this , to me, is at the leading edge of the political change that is going to sweep the globe. This is a vote against the yuppie, computer geek, dot com billionaire , wall street scammer culture. 380 million people said - screw that - give us the basics food, water, energy, infrastructure. 380 million people basically , as I see it, voted against the globalization wave that lasted the past couple of decades. And the likely candidate for prime minister is Italian born Sonia Gandhi. This is big news - and I think will spread - as more people express their disgust with a global elite run amok. Yes, first Spain and now India. Can't wait to take out the trash in Japan and the scum in Washington. Link to comment Share on other sites More sharing options...
wndysrf Posted May 13, 2004 Report Share Posted May 13, 2004 We'll see how the India Fund trades. Looks just like the XAU Link to comment Share on other sites More sharing options...
DrStool Posted May 13, 2004 Report Share Posted May 13, 2004 Can I Hear Five Point OH! Bong Yield Surging to 4.84 Uncle Buck and the Long Bong Hit, including short and long term updated charts and price targets, is now loaded. Take a subscribatory and get the latest whiff of Uncle Buck and the Long Bong Hit. Link to comment Share on other sites More sharing options...
Madame Wrecked Him Posted May 13, 2004 Report Share Posted May 13, 2004 From the Office of Workforce Security: UI Weekly Claims In the week ending May 8, the advance figure for seasonally adjusted initial claims was 331,000, an increase of 13,000 from the previous week's revised figure of 318,000. The 4-week moving average was 335,750, a decrease of 7,750 from the previous week's revised average of 343,500. Link to comment Share on other sites More sharing options...
PeakOil Posted May 13, 2004 Report Share Posted May 13, 2004 PPI up 0.7% Core up only 0.2% ... uh, yeah right Link to comment Share on other sites More sharing options...
Henny Penny Posted May 13, 2004 Report Share Posted May 13, 2004 PPI up 0.7% ( 8.4% annual rate) - excluding the onlt things that matter to human life ( food and energy) it was up only 0.2%. Link to comment Share on other sites More sharing options...
Hiding Bear Posted May 13, 2004 Author Report Share Posted May 13, 2004 Sorry, I'm not buying this: Gasoline service stations sales advanced a modest 0.2%, after rising 1.2% in March. Energy costs have been climbing. This week, the government's Energy Information Administration said average U.S. regular gasoline price rose to an all-time high $1.94 a gallon at the pumps. Without gas sales, overall retail sales would have still fallen by 0.5%, the Commerce Department data showed. Gasoline sale volumes are actually up about 3% despite price increases. Current dollar gasoline sales should be rising much faster. So where do these figures come from? Link to comment Share on other sites More sharing options...
Guest Posted May 13, 2004 Report Share Posted May 13, 2004 It started early this morning on Crapvision with some bubblehead showing a bunch of mumbojumbo the result of which was supposed to show that markets actually rise when interest rates rise. Funny how all of the guests and themes this morning were preaching from the same hymnal. Each one saying that the markets would repond favorably to a rate increase. You don't think they knew the PPI number in advance do you? Notice the weakness starting to creap in on the jobs front...it's the beginning of a trend. Link to comment Share on other sites More sharing options...
Guest Posted May 13, 2004 Report Share Posted May 13, 2004 How in the hell are they going to rescue the Ten Year today? MTG and CFC Link to comment Share on other sites More sharing options...
Henny Penny Posted May 13, 2004 Report Share Posted May 13, 2004 There will not, repeat not be any Fed rate increases when oil is above 40 and the economy starts falling fron no refi and high energy and food prices. The Greenspan Fed is probably thinking about how to EASE policy - given they are out of bullets on rates. When the market sees this the dollar will plunge and gold soar. All just speculation! BTW - bartonsan Bigosky was right - for all of 2 hours ! Ha ha ha Link to comment Share on other sites More sharing options...
DrStool Posted May 13, 2004 Report Share Posted May 13, 2004 The Fed does not control interest rates. They only control the Fed Funds rate. The 1 year T-bill is already up nearly 100 basis points. The rate has more than doubled since last summer and is up 75 basis points in the last 6 weeks. The Fed is irrelevant. Link to comment Share on other sites More sharing options...
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