Norman in England suggested a piece of commentary about the Mother of All Bailouts: The Rescue of the Wealthy
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Brad E. and Kevin A. both forwarded some bad news from Forbes, that confirms what the Peak Oil crowd has been telling us: Here comes $500 oil. The law of supply and demand is inescapable. I do, however, have my doubts about the supply side of the equation. (See, for example, the arguments presented by the Abiotic Oil proponents.)
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More Odds ‘n Sods gathered by Cheryl N., our Economic Editor: Dow Down 373 Points On Spiking Oil Price, Investor Unease Over Bailout — Morgan Stanley To Sell 20% to Mitsubishi UFJ — G7 Declines US Bailout Scheme — Dollar May Be ‘Crushed” As Investors Weigh Bailout — WaMu Under Pressure — Dire Warnings Fail To Sway Senators On Big Bailout; Dow Down Another 161 — Holiday Sales Expected To Be Weak — Morgan, Goldman Seek Deposits; Regional Banks To Become ‘Lunch’ For Larger Banks — US Dollar Set To Be Major Casualty of Bailout — Credit Crisis Analysis and Conclusion — Berkshire (Warren Buffet) To Invest $5bn In Goldman, Sachs — Funds Get Freer Hand In Buying Bank Stakes “The Federal Reserve, unleashing its latest attempt to inject more cash into the nation’s ailing banks, loosened longstanding rules that had limited the ability of buyout firms and private investors to take big stakes in banks.” [Cheryl’s Comment: Loosening rules adopted after the Great Depression is what caused this…how can loosening more rules be good?] — Hedge Fund Paulson Discloses Short Sales On UK Banks — and, Baby Boomers Delay Retirement.
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Flora recommended a TED Video: Irwin Redlener: How to survive a nuclear attack
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Eric flagged this: Housing crisis has spread to well-to-do