ly Crux
Daily Crux
Jim Rogers: The dollar is set to rally now... but it's a "total disaster" in the long term
"The situation is getting worse and I expect to see severe problems in the U.S..."
Top manager Grantham turns bearish on stocks... Says market is "badly overpriced"
"Now is not the time to float along with the Fed, but to fight it..."
Top News
Madoff Trustee Drops $3.8B in Fairfield Funds Claims The Bernard Madoff bankruptcy trustee has dropped his $3.8 billion claims against the liquidators of Fairfield Greenwich funds that funneled investor money to the convicted conmans business. [more
Another Hedge Fund Insider Trading Trial Set to Go While Galleon Group founder Raj Rajaratnam waits for a federal jury to return a verdict, another alleged insider trading trial of a hedge fund trader is getting set to start. [more]
Chelsea Clinton's New Husband to Start Hedge Fund The husband of newlywed Chelsea Clinton is reportedly starting up his own private hedge fund in the next few months, the New York Daily News reports. [more]
Daily Crux
An important measure shows no slowdown in the global economy
Cargo traffic is surging to eight-month highs...
Inflation is surging in China... Prices up 5% last month...
"Building airports that no one uses, cities that no one lives in, and malls that no one shops in cannot go on forever."
China's inflation figures released today show consumer prices rose 5.3 per cent in the year to April, sparking predictions the Asian giant's economy will soon begin to slow down.
And then there it was: pretty much budget as expected
And so after a couple weeks of announcements that the budget would be tough (you know a Horror Budget), out came a budget that well... was pretty much as expected. It was a fairly typical Labor budget - ie not a left-wing, Ben Chifley budget, but a Hawke-Keating budget. And as is always the case, the Government will be trying to tell us it was tough but fair for those 'doing it tough', and the Opposition will say they were not only not tough they were not fair on 'families'.
Senate Dems: End big oil’s tax breaks
Senate Democrats announced a plan Tuesday to eliminate federal tax breaks for the five biggest oil companies to help cut the deficit. (By Philip Rucker and Lori Montgomery)
Obama focuses on national debt, invites Democrats to White House on Wednesday
WASHINGTON — President Barack Obama is wading into the swirl of deficit-trimming budget plans, looking to cast himself as a broker in the struggle to tame the federal debt.
( Associated Press Associated Press , AP)
BP gets regulatory OK to buy 10 deep water exploration blocks in Brazil
LONDON — Oil company BP says it has gained final regulatory approval in Brazil to buy 10 deep water exploration and production blocks. ( Associated Press Associated Press , AP)
Defense cuts, gays in military on agenda as House panel begins work on $553B Pentagon budget
WASHINGTON — President Barack Obama’s deficit-driven campaign to cut defense spending and the pace of withdrawal of U.S. forces from Afghanistan loom as divisive issues as a Republican-controlled House panel begins putting together the Pentagon’s budget for next year.
( Associated Press Associated Press , AP)
WASHINGTON — President Barack Obama’s deficit-driven campaign to cut defense spending and the pace of withdrawal of U.S. forces from Afghanistan loom as divisive issues as a Republican-controlled House panel begins putting together the Pentagon’s budget for next year.
( Associated Press Associated Press , AP)
Gold and China, silver and volatility - Edel Tully, UBS
A look at where gold goes from here with a focus on China's continuing roleDomestic Chinese silver consumption has outpaced China's silver supply-CPM Group
Precious metals consultants, CPM Group, predict Chinese silver fabrication demand will rise 15.6% to 177.2 million ounces this year, well exceeding the forecast 104.6 million of domestic silver mining production. Wednesday , 11 May 2011With 100 hot ones to choose from can you really call gold stocks "scarce"?With a list of 100 hot gold stocks, we take a look at some of the other reasons why Barrick may have decided to make a bid for Equinox Minerals Tuesday , 10 May 2011Jeff Nichols' 11 reasons to be bullish on gold - factors that could drive it to $5000$1700 gold this year, $2000 next and possibly $3000 or perhaps $5000 this decade before it eventually falls back are Jeff Nichols' predictions for the gold price. Wednesday , 11 May 2011Soaring rare earth prices help Molycorp narrow quarterly lossShares in the rare earth miner fell as much as 5% in aftermarket trading after the group said it had narrowed its quarterly loss but, failed to meet analyst expectations Wednesday , 11 May 2011
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