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"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Thursday, October 11, 2007

Here are some stories that caught my eye this morning ...

Home Foreclosures Doubled in September on Loan Rates U.S. home foreclosures doubled in September from a year earlier as subprime borrowers struggled to make payments on their adjustable-rate mortgages, RealtyTrac Inc. said.

Also, interesting analysis of it HERE.

BP Says Job Cuts Are Inevitable After `Dreadful' Third-Quarter Performance BP Plc, Europe's second-largest oil company, said job cuts are ``inevitable'' as part of a shake-up following a ``dreadful'' performance in the third quarter.
XX My take -- oil over $60 and BP has a dreadful quarter? Sounds like some jobs should be cut at the top as well.

Wheat Rises on Speculation of Less Output in Australia, and Rising Demand Wheat futures in Chicago gained for a second day after a forecaster lowered its production estimate of the grain in Australia and as importers sought supplies after prices fell from a record last month.

Gold Advances to 27-Year High in London on Dollar's Decline; Silver Rises Gold rose to a 27-year high in London on speculation that a decline in the dollar will prompt investors to buy the precious metal as an alternative investment. Silver also rose.

Crude Oil Rises a Third Day in New York on Concern Fuel Supplies Declined Crude oil rose for a third day on speculation a U.S. Energy Department report will show fuel supplies fell before the peak winter demand season.

Aluminum Gains for Third Day as China to End Power Discounts for Producers Aluminum rose for a third day after China, the largest producer of the metal, said it would halt electricity discounts for the industry. Copper and nickel gained.

XX Let's see, wheat ... up. Gold ... up. Oil ... up. Aluminum ... up. But the folks in Washington don't see any inflation, no sir.
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