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

Monday, December 03, 2007

Venezuelan Voters Tell Chavez to Take a Hike, and Other News

Good News for a Change! Venezuelan voters narrowly rejected a constitutional referendum that would have bolstered President Hugo Chavez's embrace of socialism and granted an indefinite extension of his eligibility to serve as president, the National Electoral Council reported early Monday. About 51 percent of voters opposed the amendments, while approximately 49 percent were in favor of them.

Treasury Rally, Oil, Gold May Foreshadow Bear Market After Yields Tumble For only the fourth time since Gerald Ford's presidency, oil is threatening to push the rate of inflation above 10-year Treasury yields. For bond investors basking in the biggest bull market since 2002, that's bad news.

Recession Is Already Here for U.S. Corporate Profits; Economy May Be Next U.S. corporate profits are in a recession, and the entire economy may not be far behind.

Dollar Falls Against Yen; Moody's Prepares Rating Cuts on Subprime Losses At a time when everyone from billionaire investors such as Warren Buffett and Bill Gross to celebrities want nothing to do with the dollar, a growing number of strategists say the stage is being set for a rally in 2008.

Target, J.C. Penney, Dillard's Profit Prospects Dim on Slow Holiday Sales The slowest holiday shopping season in five years may signal disappointing earnings well into next year for U.S. retailers including Target Corp., J.C. Penney Co. and Dillard's Inc.

Housing Slump Enters Third Year in `Deepest Correction' Since World War II As the U.S. housing slump enters its third year, there is no sign of dawn in the darkness that is paralyzing home building, home buying and home lending.

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