Economy
Analysts were wrong! New predictions predicted.
My favorite quote so far today:
The analyst who projected $200 oil should have lopped off a zero.
Commodities Collapse: Fast, Big and Still Going - WSJ.com.
The WSJ article linked above (sub. required) show how wrong the analysts were on the commodities bubble then gives some new predictions on how far down (much farther, of course) the [...]
VeraSun Energy declares bankruptcy
Verasun Energy - Investors - Press Releases.
As I hypothesized on Thursday, VeraSun Energy (VSE: 0.28 0.00 0.00%) has filed for Chapter 11 bankruptcy. The cause can be condensed to two sentences from the press release:
The Company suffered significant losses in the third quarter of 2008 from a dramatic spike in its corn costs, reflecting in [...]
No market bottom in sight
I had plans to write a stock review today, but the current market conditions make that seem a little foolish. I sit here watching the stock market continue to crash, pulling down all stocks, regardless of value or prospects. At this point I see no reason to sell my stock holdings as the horse has [...]
Probably not the end of the world
Don’t call it a bailout - MarketWatch.
I sit here this morning watching the stock markets continue to fall on fears about the financial system. I have been wondering why the problems in the financials have spread so strongly to other sectors where many companies are in good financial shape and continue to grow their businesses. [...]
Foreign markets take off, U.S. to follow
I write this a few hours before the U.S. markets open, but it looks like the rest of the world is relieved by the Fed’s takeover of Fannie and Freddie. From the early news, markets worldwide are up 3-5%. News on the BBC has the London Stock Exchange suspending trading due to a computer glitch. [...]
