Want to know the faces of the men who brought our economy to the brink of disaster? Read TPM’s Axis of Weasels: The Men Who Ruined the Economy.
US exports and imports declined sharply in January …
But we shouldn’t feel alone. Take a look at China’s exports and imports …
Meanwhile, Bloomberg reports that in China, “There’s no hope for export demand to recover any time soon,” said Wang Qian, a Hong Kong-based economist at JPMorgan Chase & Co.
So if the news is so bad, why did we recently buy Freeport McMorRan Copper & Gold in Red-Hot Global Small-Caps? A) the market is bouncing from an oversold condition and B) Freeport McMoRan is undervalued on a lot of measures.
IN OTHER NEWS
Biggest Gold ETF Expands to a Record, Surpassing Swiss Official Reserves SPDR Gold Trust, the biggest exchange-traded fund backed by bullion, expanded to a record, overtaking Switzerland’s central bank holdings as the world’s sixth-largest stockpile.
BHP Should Spin Off Nickel, Aluminum Units on Metals Slump, JPMorgan Says BHP Billiton Ltd., the world’s largest mining company, should spin off its underperforming aluminum and nickel assets to boost returns during a forecast prolonged slump in metal prices, said JPMorgan Chase & Co.
China’s Wen Is `Worried’ at Safety of U.S. Treasuries, Asks for Assurances China, the U.S. government’s largest creditor, is “worried” about its holdings of Treasuries and wants assurances that the investment is safe, Premier Wen Jiabao said.
IEA Cuts Oil Demand, Non-OPEC Supply Growth Forecasts on Global Recession The International Energy Agency cut its 2009 oil demand forecast for a seventh month as the global slump saps consumption. Non-OPEC supply growth has stopped as investment drops and faults close fields, it said.
Calderon Defends Mexico’s Anti-Drug War, Countering Claims He Lost Control Mexican President Felipe Calderon took aim yesterday at U.S. criticism that his government is losing territory to organized crime, delivering his most aggressive defense yet of his fight against drug cartels.
Related Posts
- Wednesday News Roundup (11/11/08)
- Friday Morning Roundup (01/23/09)
- Wednesday News Roundup (09/03/08)
- Energy News Roundup (09/23/08)
- Wednesday News Roundup (08/13/08)
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