Red-Hot Resources

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

Monday, May 12, 2008

News You Can Use for Monday

Keep your eye on agriculture. For one thing, I guess they're talking about different areas of Australia, but it's interesting to see these two bits of news ...

Australia May Produce Biggest Canola Crop in Nine Years as Drought Eases Australia, the world's third-largest canola exporter, may produce its biggest crop in nine years as growers seek to benefit from higher prices and weather conditions improve.

Drought Conditions Spread in New South Wales Before Plantings, State Says Drought conditions spread in Australia's New South Wales state, usually the nation's second- largest grain grower, as farmers prepare to sow the coming crop.

In the US, farmers are praying for a "window" so they can plant their corn crops. Will they get it?

Corn May Extend Record as Rainfall Cuts U.S. Planting; Soybeans May Gain Corn may rise from last week's record high on speculation that wet, cold weather will delay U.S. planting, reducing yield potential. Soybeans may gain on speculation a farm strike in Argentina will boost U.S. sales.

China is dealing with the aftermath of a devastating earthquake. Meanwhile, its economic juggernaut rumbles on ...

Yuan Gains After Central Bank Chief Says China Needs to Cut Trade Surplus The yuan traded near the highest since a dollar-peg was scrapped in 2005 after central bank Governor Zhou Xiaochuan said China needs to cut its trade surplus to prevent excess cash from stoking inflation.

China May Boost Power Capacity 40 Percent Over Three Years as Demand Rises China, the world's second-biggest energy consuming nation, may increase power-generating capacity by 40 percent in three years as demand of electricity rises.


Almighty Dolor

the dollar has had its ups and downs, but its ultimate dominance as a global currency has been in place, and taken for granted, for generations. “People have started to think, Maybe it’s not inevitable.”

Dollar Bulls Gain Control as Futures Signal High-Flying Euro Close to Peak For the first time since December 2005, futures traders are turning bullish on the dollar.


California Man Losing 9 Homes in Mortgage Mess

A California man who has defaulted on nine homes and expects banks to foreclose on all of them, forcing him into bankruptcy, says he now considers it a mistake to have invested in the real estate market.

Forgaard bought a house in Santa Cruz, about 60 miles (100 km) south of San Francisco, in 2000. Four years later, using $800,000 in stock options, he began snapping up investment properties, putting 10 percent to 40 percent down on negative amortization loans -- in which payments do not cover the interest so that a borrower's balance grows over time.


April retail sales barely budged

Retail sales barely rose in April, as a relentless surge in gasoline prices made consumers cut back other types of spending.

Check out my new gold and energy blog at