Oldtent Archives 2007 - 2008

The Transportation Department reported Friday that in March, Americans drove 11 billion fewer miles than in March 2007, a decline of 4.3 percent. It is the first time since 1979 that traffic has dropped from one March to the next, and the month-on-month percentage decline is the largest since record keeping began in 1942.High gasoline prices, plastered on 20-foot signs from coast to coast, are turning into a barometer of the country’s mood.

B.C.’s grape escape: entrepreneurs ready

BERLIN (Reuters) - The United States is already in a recession and it will be longer as well as deeper than many people expect, U.S. investor Warren Buffett said in an interview published in German magazine Der Spiegel on Saturday.

He said the United States was “already in recession” and added: “Perhaps not in the sense that economists would define it” with two consecutive quarters of negative growth.

“But the people are already feeling the effects,” said Buffett, the world’s richest man. “It will be deeper and last longer than many think.”

But he said that won’t stop him from investing in selected companies and said he remained interested in well-managed German family-owned companies.

“If the world were falling apart I’d still invest in companies,” he said.

Buffett also renewed his criticism of derivatives trading.

“It’s not right that hundreds of thousands of jobs are being eliminated, that entire industrial sectors in the real economy are being wiped out by financial bets even though the sectors are actually in good health.”

Buffett complained about the lack of effective controls.

“That’s the problem,” he said. “You can’t steer it, you can’t regulate it anymore. You can’t get the genie back in the bottle.”

jump from 130,000 feet from a balloon…Hey Goldballoon, you ever jump from your balloon?

Jump from 130,000 ft

stockcharts.com/charts/gallery.html?TME.V

What about Bob ..

I’m Bob. Would you knock me out, please? Just hit me in the face.. lol

Do you know about ROY?

Have a $20.00 deposit on one ..

http://www.mbusa.com/models/main.do?modelCode=SL600R

http://www.youtube.com/watch?v=tTaOvzZKRxA

http://www.youtube.com/watch?v=sogKUx_q7ig

http://www.youtube.com/watch?v=hMenB9Ywh2Q

www.youtube.com/watch?v=iikKzQwgBJc&feature=related

Happy Long Weekend to American Friends

_______________________

abtd

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Copper-gold

AJAX. Kamloops, BC

Abacus Mining & Expl (100%) www.amemining.com

Drilling gave 116.5 m at 0.36% Cu and 0.21 g/tAu in rich Monte Carlo zone, immed east of Ajax pits. Prelim econ assessment of Ajax West, East expected mid-2008; full feas study in 2009. Late March defin agreements with New Gold and Teck Cominco for land access, and surface and mineral rights on Ajax and New Gold’s adjac New Afton.

TULSEQUAH CHIEF. Atlin, BC

Redcorp Ventures (100%) www.redcorp-ventures.com Received permit for initial construction activities end of February, and authorization to cut lumber for full road construction from barge landing site to airstrip. Road construction had begun; crews were completing Shazah airstrip in early March and preparing for Shazah Creek bridge emplacement. Redcorp has finalized purchase of the diesel generating plant and associated equipment. Underground development to begin June.

“I’ve never seen any other commodity generate such a fanatical following as silver. There are many investors and speculators interested in nothing but silver and its miners. There are financial newsletters focused solely on silver. This metal’s ecosystem, birthed by a legendary superspike over 28 years ago, is totally unique.

With so much riding on silver for so many traders, emotions are amplified tremendously. If 10% of your portfolio is exposed to silver, and it doesn’t live up to your expectations, you can shrug it off. But if 90% of your capital is deployed in the silver realm, and silver lets you down, it is devastating. This is made all the worse by the capricious and hyper-volatile nature of silver. It takes no prisoners.”

www.zealllc.com/2008/siltech2.htm

Bill,
In the May 22 session on the TOCOM Goldman Sachs COVERED a substantial 494 short contracts and added 16 contracts to their long position to bring their long position to 685 contracts and their net short position to 7,972 contracts. GS is definitely running for the hills! Watch this space; something is afoot!
Cheers
Adrian

LEH is in obvious trouble. Their hedges are blowing up. This is exposing their losses and intensifying them.

I think they will get bailed out somehow in the next couple weeks, maybe over the long weekend.

At least one or two other brokers are also in trouble. MER because of some more writedownsand GS because of undisclosed problems they are trading around for now.

Morgan Stanley is also hurting because of bad investments.

I have a little something on each one.

Eenie meenie minie moe, which bank will be the next to go?

I also think we are getting close to a ‘crisis’ again. The fed’s assets are down almost 40%.

They can keep feeding out at the current rate, but another big run on the banks could take them to the wall.

The ‘assets’ they are putting out are the ones that back our currency in circulation!! This is what the ‘Fed Held’ assets aresupposed to be for on the face of it. LOL.

Just my two cents

….Blame it on Congress first…Bush/Paulson second…Greenspan tird…(thats french for third)….

….we are gonna need a Big batch of Tar and a mountain of feathers….

Morning coffee reads ,
www.financialsense.com/fsu/editorials/dancy/2008/0516.html

Unsold homes at a 23 yr. high
www.marketwatch.com/news/story/unsold-single-family-homes-rise-23-year/story.aspx?guid={A367A898-AD7A-49A9-80F3-0C20FB1CF022}&siteid=yahoomy