Wednesday, July 01, 2009

July 1st Rally!

  • Stock market up because the bad news isn't as bad as people were expecting. Hooray, semi-bad news!  Manufacturing index sinks less than expected.
  • Oil back up over $70 as supplies fall.  Of course, at this time demand isn't in a major uptrend.  We're dealing with Nigerian issues and then China wanting to increase their reserves to 150%.  Gee, it would be nice if we were to expand our domestic drilling, start using natural gas for cars, and build new nuclear power plants.  But it seems as if the Lord hath hardened Pharaoh's heart and we will burn oil until we have to go to war over it.
  • The government won't fund GM past July 10th.  A senior member of President Barack Obama's auto task force testified Wednesday that the U.S. government will not continue to fund General Motors Corp.'s operations if the automaker doesn't get approval to sell its assets to a new company within the next 10 days.
  • Cheerios for dinner! General Mills profits doubleConsumers have been pulling back on their spending at restaurants during the recession and heading to grocery stores.   I have cereal for dinner quite a bit.  Not to save money, just because I don't like to cook and I don't want to go out every night of the week.
  • Seven U.S. states from California to Connecticut began the fiscal year today without spending plans in place as they battle over tax increases and other measures to balance budgets amid declining revenue.  I recall a book... "Empire of Debt?"
  • A new Doctor Who movie to be announced?  (Love that show, btw.)

Picture is of Freema Agyeman, who plays Martha Jones on Doctor Who.

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