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Thursday, August 14, 2008

Chart for the Day ... Oil Exports Still Trending Down

Chart for the day ...How do you like that trend?

In other news ...

Astounding! Joe Kernan is sucking up to Erik Prince of Blackwater on CNBC this morning. Maybe next, Joe will interview Satan and lead off by saying: “Why are those holier-than-thou types so hard on you? You’re just doing your job.”

Oh, now Michelle Caruso-Cabrera is joining the party. Hey, there’s a woman who’s comfortable with the dark side. She’s perfect to interview the head of the world’s largest, most corrupt and bloodthirsty mercenary outfit.

I can’t wait to see who's next!

U.S. Consumer Prices Rise Twice as Much as Estimated on Energy, Food Costs
The consumer price index climbed 0.8 percent, twice as much as anticipated, the Labor Department said today in Washington. The cost of living was up 5.6 percent in the year ended in July, the biggest jump in 17 years. So-called core prices, which exclude food and energy, also rose more than projected -- 0.3%.

XX Sean's note: Consensus estimates were for a rise of 0.4% in the consumer price index. Core prices were expected to climb 0.2%. Guess not. The dollar is down on the news, but still pretty strong, all things considered. Just how bad do investors expect the news to be elsewhere in the world?

US Foreclosure Filings Surge 55 Percent
Nationwide, more than 272,000 homes received at least one foreclosure-related notice in July, up 55 percent from about 175,000 in the same month last year and up 8 percent from June, RealtyTrac Inc. said. That means one in every 464 U.S. households received a foreclosure filing last month.

RealtyTrac noted that it had more than 750,000 foreclosed homes in its database of properties for sale, equal to about 17 percent of the 4.5 million U.S. homes that were up for sale in June.

EU: Euro Economy Shrinks in Second Quarter
Growth in the 15 economies that share the euro currency contracted by 0.2 percent from the first quarter, expanding just 1.5 percent from the same period a year ago, the EU statistical agency Eurostat said.

How moon rocks could power the future
The moon is once again a popular destination, as several space-faring nations are talking about setting up bases there. One reason would be to mine fuel for future fusion reactors.

The fuel in this case is helium-3, a lighter isotope of the helium used in balloons. In high energy collisions, helium-3 fuses with other nuclei to release more energy and less waste than the reactions in traditional nuclear reactors.

Signs of the Times. Just click through ... you'll see.

Thought for the day:

If we stopped driving our cars tomorrow, America would still need five million barrels of oil a day. Rubber, Plastic, Nylon, Aerosols, Resins, Solvents, and Lubricants--none can exist without oil. -- The History Channel

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