Just cruise my business tags for more, please.
"Crude oil drops $3.34 as demand ebbs; Energy costs seen hurting economy; dollar strengthens" by Bloomberg News | May 28, 2008
NEW YORK - Crude oil fell more than $3 a barrel in New York, the biggest decline since April, on signs that this year's surge in prices is lowering US fuel consumption as the economy slows....
Regular gasoline, averaged nationwide, rose 0.1 cent to a record $3.94 a gallon, AAA said yesterday on its website....
Also, the dollar rose against the euro.... The euro reversed gains against the dollar after reports showed German consumer confidence fell more than economists forecast and French business confidence declined to the weakest in more than two years in May....
That's why the price dropped -- has nothing to do with supply and demand at this point.
It is the DECLINING DOLLAR, but don't expect the agenda-pushing MSM to trumpet the connection for you. They do it slyly, and insert such information in the middle or end of articles -- if at all.
The price of crude can't rise much higher without causing a global recession, according to a research paper released yesterday by International Monetary Fund economist Noureddine Krichene. There is no reason to expect oil to decline soon, Krichene said....
Unless there is some sort of military conflagration in the Middle East, right?
Then it's $200/barrel and probably higher!
On the production end, Russia, the world's biggest oil exporter after Saudi Arabia, is trying to stimulate output after production fell to 9.72 million barrels a day in April, the lowest in 18 months, because costs rose to develop aging fields and new projects.
Russian Prime Minister Vladimir Putin yesterday approved a tax-cut plan that may be sent to lawmakers this week. That country's production may rise to 12 million barrels a day as a result, billionaire Chalva Tchigirinski said yesterday in a Bloomberg Television interview.
"The news from Russia is significant," said Tom Bentz, a broker at BNP Paribas in New York. "I don't know how soon we will see the additional production but these are significant quantities."
That's why U.S. relations with Russia are becoming strained -- well, one reason among many!
Russia is RISING!!!
As for America and Americans.... welcome to Bush world!!!!
"Consumer confidence index plummets to 15 1/2-year low" by Associated Press | May 28, 2008
NEW YORK - Not since George H.W. Bush ran the White House have consumers felt so downbeat about the economy. And the catalyst for much of the gloom - the housing slump - shows no signs of abating, new data yesterday showed.
With Americans losing sleep over rising inflation and tight credit, the housing market is unlikely to rebound soon, spelling more pain for the economy.
Naw, I get plenty of sleep -- it comes with the hunger (gotta keep the home, shit home, right?).
"The consumer has no more money to spend," said Dan Alpert, managing director at the investment bank Westwood Capital. "The only way the economy is not going to recede is if someone cooks the books."
Do you hear something sizzling, readers?
.... Retiree Irene Arnold, of Butler, Wis., is uneasy about the economy, especially as she watches food prices skyrocket each trip to the store.
"You go to the store and you can't get too many groceries for your money," said Arnold, who is cutting back on pricier items like meat, milk, and fruit. "It seems like you don't have to have too much in your basket and the cost is really high."
Is that what it is? I never dreamed shit could be so expensive!
Gas prices top Becky Diedrich's list of worries. The 43-year-old accountant in Franklin, Wis., is looking to replace the family minivan and most likely will go with a hybrid to help save at the pump.
That's if you can get the trade-in value and loan, right? Good luck!!!!
She wonders how high gas will go. "I don't think it's over yet. And I think it's going to have a lasting effect on consumers," she said.
Gas prices hit another record yesterday at almost $3.94 a gallon - just a day after the unofficial start of the summer driving season, according to a survey of stations by AAA and the Oil Price Information Service.
That's gotta be some sort of natural cycle, doesn't it?
I mean, it is the SAME EVERY YEAR!!
While higher food and gas prices eat into Americans' wallets and incomes, falling home prices are eroding the value of their largest asset.
US home prices dropped at the sharpest rate in two decades during the first quarter, the Standard & Poor's/Case-Shiller national index showed yesterday, a somber indication that the housing slump continues to deepen.
But everything is on the rebound, we are told by the MSM!!!
Prices tumbled more than 14 percent during the quarter and are at levels not seen since the third quarter of 2004.
And Bush still "won" reelection, huh? Pffffftttt!!!
While the index is still up 60 percent from 2000, millions of homeowners who bought in the past four years with little or no money down now owe more than their homes are worth.
Meanwhile, the government reported yesterday that new home sales unexpectedly rose 3.3 percent from March to April, driven by a surge of purchases in the Northeast. It was the first increase in six months and what seems like, on face value, a hint of rosier days ahead.
Jingle, jingle, jingle, COOKED BOOKS are done, COME and GET 'EM!!!!
But April's sales also looked better in part because of a large downward revision to the March numbers. And the median home price fell 4.2 percent last month to $246,100.
HOW MANY TIMES do I have to POINT OUT THIS BEHAVIOR by our LYING GOVERNMENT, readers?!
REVISED DOWNWARD after ANNOUNCING SUCH SUCCESS!!!
But you just remember the initial charge, don't you, AmeriKa?
Nobody remembers the dismissals.
Just ask the Olympic bomber Richard Jewell. Oh, that's right. The FBI tried to falsely frame the guy because he found the (FBI planted?) bomb !
Turns out he was innocent, but how many people remember that?
CASE CLOSED on AmeriKa's LYING GOVERNMENT and shit MSM!!!!
Inventory also edged lower in April, but David Seiders, chief economist for the National Association of Home Builders, waved off any hint of good news because the numbers don't include contract cancellations by buyers.
"There are still major uncertainties on the supply side," Seiders said.
A bottom isn't in sight, he thinks, and with reports like S&P/Case-Shiller's home price index, which he called "chilling," skittish buyers will continue to sit on the sidelines until prices stop falling."
That's if there are any Americans left with jobs...
"Finance sector job cuts rising; 83,000 positions pared worldwide in last 10 months" by Bloomberg News | May 28, 2008
NEW YORK - It's as if the entire workforce at Goldman Sachs Group Inc. and Morgan Stanley vanished in less than a year.
From Tokyo to London to New York, financial companies have revealed plans to shed more than 83,000 jobs since last July as revenue and compensation pools evaporated, according to figures compiled by Bloomberg....
Gee, and the guys at Goldman's still found enough dough to give themselves millions in bonuses though, huh?
Something is el-stinko!!!!
Oh, it is that bowl of shit you are munching on, 'murkn!!!
The cuts add up to 3.3 percent of employees at the 28 firms eliminating positions. That's a significantly smaller portion than was lost during the market slump from 2000 to 2003, when 17 percent of banking and securities jobs in New York were wiped out, data from the Bureau of Labor Statistics show. Given the record-breaking losses of the past year - banks and brokers have taken $383 billion of write-downs and credit losses - some economic forecasters and industry veterans expect the number of dismissals to increase.
Goldman's didn't lose:
"Goldman has shattered Wall Street profit records for the fourth consecutive year."
Thanks, lying media!!!!
Sigh. Is it any wonder I don't believe a word of their agenda-pushing?! Even when they print truth it is upside-down, inside-out and backwards!!!
"My guess is there's probably more to come," said Sanford "Sandy" Weill, chairman emeritus of Citigroup Inc., who worked on Wall Street for 53 years, in an interview. "I think this is tougher" than the last market decline, he said.
The retrenchment has affected positions as varied as biotech bankers, compliance officers, and Latin America debt traders - not just mortgage salesman and credit traders - as revenue declines spread beyond the fixed-income world.
The Independent Budget Office in Manhattan said in a report issued last week that it expects 33,300 finance jobs in the city, or 7.1 percent of the total, to be cut from the peak in 2007. The 17 percent lost in New York during the 2000-to-2003 market drop was 52,500 jobs, Bureau of Labor Statistics data show.
Job cuts in New York probably won't match those of 2001 and 2002, when losses accelerated after the Sept. 11 terrorist attacks, said Marisa Di Natale, senior economist at research firm Moody's Economy.com in West Chester, Pa. She's forecasting that the New York metro area will lose 45,000 financial jobs this time, or 7.7 percent, compared with 60,000 jobs, or 10 percent, in the previous decline."That's a whole lot of souls out of work, readers, I don't care what the percentages are.
Soon this society will be at each others throats, huh?
Another justification for martial law, is it not?
Nice management of the economy, globalist pricks!!
