Reader FLS suggested this article: Here comes $500 oil [1]. “If Matt Simmons is right, the recent drop in crude prices is an illusion – and oil could be headed for the stratosphere. He’s just hoping we can prevent civilization from imploding.”
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Our prodigious Economic Editor sent us a fresh batch of news and commentary: Fed To Buy Massive Amount Of Short-Term Debt [2] — Stocks Fluctuate After Fed Corporate Debt Plan [3] — UK Bank Shares Dive Again As Panic Spreads [4] — Smaller Banks Still Making Loans [5] — UK Gov’t Takes $100 Billion Stake In Britain’s Top Banks [6] — Pakistan Facing Bankruptcy [7] — Pope Says World Financial System “Built On Sand” [8] — BofA Profits Drop 68% [9] — Russia and Brazil Crumble As Commodity Prices Crash [10] — LIBOR OIS Spread Signals Credit Crisis Earthquake [11] — European Governments Panic Triggers Stock Market Crash [12] — Iceland teeters on the brink of bankruptcy [13] — Gold prices climb amid financial uncertainty [14] — Dow Dips More Than 500 On Financial Worries [3] — Analyst: Retirement Accounts Have Lost More Than $2 Trillion [15] — Brown Orders Massive UK Bank Rescue [16] — US Mint Halts Some Am Eagle Production [17] — Iceland Gets $8 billion Russian Loan As Banks Fold [18] — Icelandic PM Warns Nation Of Bankruptcy [19] — Troubled BofA To Raise $10 billion in Capital [20] — Dow Slump Threatens Global Markets [21] — Ron Paul: Bailout Was The Wrong Thing [22]
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Thanks to Jack B. for flagging this: Forecast: US heating costs to jump 15 percent this winter [23].
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British savers denied cash as chaos hits Iceland bank [24]. (A hat tip to Scotty for the link.)