Day June 3, 2008

Has oil peaked, at least temporarily?

A cover story by The Economist about high oil prices would, assuming you believe in contrary indicators, indicate at least a short-term top in prices. That’s what The Big Picture thinks, saying “Painful though it is, this oil shock will…

Historic

My 90 year old father, a life-long Republican until 1992 and Obama supporter since day 1, called me excitedly tonight saying CNN just called the nomination for Obama. He said, “this is historic” and he’s right. An African-American man is…

A fine rant on commodity speculation

From options trader Philip Davis. Who are the apologists at CNBC really protecting? Bloomberg says it’s the investment banks, who have churned free Federal loans along with an investor frenzy into $596 TRILLION of speculative derivative investments “including those based…