LiveWire Economics Blog
LiveWire Economics Blog - September 3, 2008 9:29
Oil swings drive wild day
A strong early dive in oil prices helped drive a 250 point surge in the Dow on Tuesday (September 2). Oil dropped sharply to a low of $105.46 per barrel early in the day based on reports that the Gulf Cost oil refineries were largely spared as Hurricane Gustav swept through the southeast part of […]
US economy doing better than expected
The US economy performed much better than anyone had expected during the second quarter of 2008. Thursday’s (August 28) report from the Commerce Department showed a 3.3 per cent annual growth rate increase in the Gross Domestic Product.
Is Gold about to decouple
Gold has moved with the € and in the opposite direction to the U.S.$ for months now.The main reason is because U.S. Investors have linked the performance of the $ to the € as a true reflection of the $ currency value.Of course this implies that the € is the defining currency against which to […]
Operation Melt Down, Part I
FIFTY YEARS AGO – just as the fictional 007 was thwarting Auric Goldfinger’s plan to empty Fort Knox and take America’s gold to Soviet Moscow – the US Treasury feared a very genuine loss of its real gold reserves.
Second quarter bad for US banks
A new report Tuesday (August 26) shows that US banks suffered through one of their worst quarters in history during the second economic quarter of 2008. According to the Federal Deposit Insurance Corporation (FDIC), there were an incredible 117 banks that it considers to have been in “trouble†during the second quarter. This was up […]
Oil slide over?
A sudden move back up in oil this week has already prompted analysts, speculators and consumers to wonder if the month-long oil and gasoline price slide is over, or if this week’s change is simply a correction to the downward trend.
Poor retail, rising wholesale prices prompt inflation concerns
July wholesale data shows that inflation concerns are still fresh and should be at the top of the list of current economic concerns. Tuesday’s (August 19) announcement showed wholesale prices climbed 1.2 per cent during July, which was well over the ½ per cent estimates that had been forecasted.
Gold: Cheap as Chips…?
THE SHARP DROP in world gold prices starting in late July knocked the cost of physical metal more than 20% off its record top of mid-March at last week’s low point.
Dollar making move as oil slides farther
The dollar has been making a strong move in recent weeks after holding firm for several months in light of ongoing financial concern. There has been little fanfare surrounding the gradual improvement over time in the greenback thanks largely to continued focus on other aspects of the economy. Credit, housing, retail, and unemployment have been […]
retail sales and historic jobless claims dampen spirits
It seems like every time investor sentiment turns positive and consumers gain hope, something in the way of negative financial news gets in the way. Thursday (August 7), there were a few bits of important economic news that worked together to spoil the day. Retail sales, jobless claims, and disappointing financial sector news all contributed […]
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