09-05-2008, 07:01 AM
<!--QuoteBegin-acharya+Sep 5 2008, 12:51 AM-->QUOTE(acharya @ Sep 5 2008, 12:51 AM)<!--QuoteEBegin-->since the Republican Party Convention openned, the Dow Jone Industrial Index has dropped 550 points, or just under 5%. Ronald Reagan was found of saying "You vote with your wallet".Â
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It is better than last month. Couple of reasons are behind for this drop, 3-4 Storms, oil price stayed high, dollar is strong , today's unemploment data, low school shopping. Major problem is financial sector which is still trying to float, they are trying to borrow from Asia and MiddleEast. I think worse is not over yet.
Anyway, US is fighting 2 wars and 2 more wars may pop up soon. (Russia- cold, Iran)
BRENT CRUDE FUTR (USD/bbl.) 106.550
WTI CRUDE FUTURE (USD/bbl.) 107.860
Grains to watch, it is dropping in US and ethnol bill failed, so corn will be cheap and will reduce food prices in coming months.
[right][snapback]87520[/snapback][/right]
<!--QuoteEnd--><!--QuoteEEnd-->
It is better than last month. Couple of reasons are behind for this drop, 3-4 Storms, oil price stayed high, dollar is strong , today's unemploment data, low school shopping. Major problem is financial sector which is still trying to float, they are trying to borrow from Asia and MiddleEast. I think worse is not over yet.
Anyway, US is fighting 2 wars and 2 more wars may pop up soon. (Russia- cold, Iran)
BRENT CRUDE FUTR (USD/bbl.) 106.550
WTI CRUDE FUTURE (USD/bbl.) 107.860
Grains to watch, it is dropping in US and ethnol bill failed, so corn will be cheap and will reduce food prices in coming months.