| Sharing our Grief at the Loss of A Progressive Candidate, Progress ...
This morning, I woke up around 3:15. I blame my drinking liberally crew. I had two beers and that always wakes me up early (I know... two beers a week is below the glass of alchohol a day they say is good for your heart. I'm working on it. ) Anyway, I get an email when someone unsubscribes and gives a reason. One reader unsubscribed and gave this reason: :::::::: This morning, I woke up around 3:15. I blame my drinking liberally crew. I had two beers and that always wakes me up early (I know… two beers a week is below the glass of alchohol a day they say is good for your heart. I’m working on it. <G>) Anyway, I get an email when someone unsubscribes and gives a reason. One reader unsubscribed and gave this reason. I'm so depressed about John Edwards dropping out that I don't want to know any more what is happening.
CHILE: Copper Boom - Cui Bono?
Chile is the worlds largest producer and exporter of copper, with a 35 percent market share, and the biggest global reserves.
According to the state Chilean Copper Commission (COCHILCO), the country produced 5,361 tons of copper concentrate in 2006, nearly five times as much as its closest competitor, the United States, which produced 1,226 tons. Peru followed, with 1,049 tons.
The Chilean state controls just 30 percent of the total output, through the National Copper Corporation (CODELCO). The remaining 70 percent is in private hands.
In 1966, the government of Christian Democrat President Eduardo Frei Montalva (1964-1970) "Chileanised" copper by purchasing 51 percent of the shares in mines worked by foreign companies.
Then in 1971, Socialist President Salvador Allende (1970-1973) expropriated the private mining companies and nationalised the copper industry before he was overthrown by a military coup.
News at a Glance
What Goes Up: Tuesday's rally erased early; Dow falls 361.
Inventories Rise: Wholesale stockpiles up higher than expected.
Productivity Surprise: Preliminary Q3 reading tops estimates.
End of an Era: Nasdaq to buy old Philly Exchange for $652 million.
The Lowdown
At least the volatility is consistent. The major indexes fell sharply Wednesday, erasing a Tuesday rally, as traders frowned on a shrinking dollar and mixed economic data. The Dow Jones Industrial Average lost 361 points, more than three times yesterday's gain, to stand at 13300, its lowest level since September 12. The Nasdaq dropped 76 to 2749, and the S&P 500 lost 45 at 1476. Each sector trended negative, but financials took the brunt of the damage, losing almost 5%.
James Mound's Weekend Commodities Review
After just barely penetrating the $100 mark crude oil has setup a bearish pattern that could have some legs to it. While it is logical to think that $100 was psychological and not a rational long term price top, keep in mind that much of the last $30 run up has been lacking fundamental support. Market hysteria, fund interest and spec buying have all helped to bring oil prices way out of proportion with supply and demand fundamentals. So it would seem only logical that a psychological resistance point would actually cause a trend reversal. Look at some long term put plays and get on the short side in a hurry. If we break back to new highs then leave some powder dry to double up because it is not a matter of if but a matter of when this market will go adios ga-bye-bye to the downside.
Financials
Economic fears and a doom and gloom speech by Fed Chairman Ben Bernanke has the stock market in a bit of tailspin.
Police to launch investigation into detective's methods in Masters ...
Fort Collins police on Tuesday said they will launch an internal perjury and wiretapping investigation into Lt. Jim Broderick, the department's Internal Affairs supervisor. Broderick, who is out of state and unavailable for comment, is already under investigation by the Weld County District Attorney for the same allegations. They were made by defense attorneys for Timothy Masters, who was released from a life sentence Tuesday morning after DNA testing revealed a new suspect. .
Filed under: GreenBayPackers
I don't know if it's done in other parts of the country, which I'm sure it is, but around here, there are local theaters that put the Packer game on the big screen. It's mostly theaters that serve beer and food that do it, otherwise, without serving beer at a Packer game in Wisconsin, it's pointless. It's an incredibly popular place for people to go and watch the game. I've never done it myself, but there are a lot of people that do. Not any more. The NFL has sent out letters to the owners of these operations to stop showing these games because they violate copyright laws. This according to the Journal Sentinel. Brian McCarthy, an NFL spokesman, said in an e-mail that the league recently became aware that the businesses were showing Packers games. "We let them know they are violating copyright law and longstanding NFL policies that prohibit mass out-of-town viewing of NFL games," he said.
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