Posted on 05/20/2010 7:45:07 AM PDT by OldDeckHand
Stocks fell sharply Thursday after an unexpected spike in jobless claims and as global jitters pushed the dollar higher.
-snip-
The Dow Jones Industrial Average was down nearly 300 points, or almost 3 percent, and the CBOE volatility index, widely considered the best gauge of fear in the market, spiked more than 20 percent to above 43, its highest level in over a year.
(Excerpt) Read more at cnbc.com ...
The running is due to the fact that when the carry trade unwinds, the earlier you get out the better. The dollar because we flooded the world with ridiculously low rates. The strongest currency right now is gold, not dollars.
Why do they keep using that word? Do they know how stupid they sound? Every month for two years 500,000 people have unexpectedly lost there jobs.
http://www.freerepublic.com/focus/f-news/2515868/posts
Above link posted by blam Tuesday here on FR, which is entitled,
Dow Theorist: Sell Everything Liquid, You Won’t Recognize America By The End Of The Year
The Business Insider ^ | 5-18-2010 | Joe Weisenthal
Wow - I didn’t know that about winter squash! Darn it - I don’t think that grows down here in south Florida.
Oil is down 23% in the past month and gas prices here in California are basically the same, around $3/gallon. I’ve seen a couple of cents knocked off at the ARCO station, and that’s it.
It’s criminal.
10,093.82
-350.55 (-3.36%)
Real-time: 1:01PM EDT
May 5, 2010 ... The Washington Post Co. is putting Newsweek up for sale in hopes that another owner can figure out how to stem losses
DUH!
Still dropping?
The markup on gasoline isn't out of step with the markup on any commoditized product. In fact, margins in the oil business place them as most as middle-of-the-road performers with respect to operating ratios. For the gasoline retailers, it's even worse. That's why so many sell things other than gas - that's where the majority of their profits come from.
If you want to see criminal markups, look at the margins in milk.
The WashPost better hope some liberal who likes to lose money and wants a media toy will buy it. That arab guy whathisname Saban might be one.... maybe Bloomberg since he did buy BusinessWeek from them already.
Government markups!
One other thing I would add, is that gasoline prices aren’t solely dependent on the price of crude. This is the time of year - especially in California - where the “summer blends” become mandated by federal and state laws. These blends are more expensive to produce, and therefor the cost of the gasoline increases. Increased demand isn’t the only reason gas prices spike in the Summer. Some of it, and MUCH of it in California, has to do with the environmental regulation of fuel production.
World stocks tumble as debt woes rumble on
Further weighing on sentiment was the news that new claims for unemployment benefits in the U.S. rose by 25,000 to a three-month high of 471,000 — the consensus in the markets was for a modest fall to 440,000.
The worry is that high unemployment in the U.S. will act as a drag on the recovery.
“The increase in claims has triggered double-dip (recession) fears,” said Neil Mackinnon, global macro strategist at VTB Capital.
http://news.yahoo.com/s/ap/20100520/ap_on_bi_ge/world_markets_23
I worked QC labs on the east coast, it doesn't seem like such an effort.
I mean, like, matching paint colors is harder.
This is another prime example of why I stopped buying readking Business Week, in the last century.
Right Index finger isn’t working this morning:
“I stopped buying/reading Business Week, in the last century.”
It may be harder, but it's not more labor intensive, unless of course you're matching the paint colors in several billions of gallons of paint.
It's just pipes , pumps, tanks & vessels with compressors hooked up , etc..
What's being blended in over there?
You can read all about it, here.
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