Chart for the day …
How do you like that trend?

In other news …

Astounding! Joe Kernan is sucking up to Erik Prince of Blackwater on CNBC this morning. Maybe next, Joe will interview Satan and lead off by saying: “Why are those holier-than-thou types so hard on you? You’re just doing your job.”

Oh, now Michelle Caruso-Cabrera is joining the party. Hey, there’s a woman who’s comfortable with the dark side. She’s perfect to interview the head of the world’s largest, most corrupt and bloodthirsty mercenary outfit.

I can’t wait to see who’s next!

U.S. Consumer Prices Rise Twice as Much as Estimated on Energy, Food Costs
The
consumer price index climbed 0.8 percent, twice as much as anticipated,
the Labor Department said today in Washington. The cost of living was
up 5.6 percent in the year ended in July, the biggest jump in 17 years.
So-called core prices, which exclude food and energy, also rose more
than projected — 0.3%.

XX Sean’s note:
Consensus estimates were for a rise of 0.4% in the consumer price
index. Core prices were expected to climb 0.2%. Guess not. The dollar
is down on the news, but still pretty strong, all things considered.
Just how bad do investors expect the news to be elsewhere in the world?

US Foreclosure Filings Surge 55 Percent
Nationwide,
more than 272,000 homes received at least one foreclosure-related
notice in July, up 55 percent from about 175,000 in the same month last
year and up 8 percent from June, RealtyTrac Inc. said. That means one
in every 464 U.S. households received a foreclosure filing last month.

RealtyTrac
noted that it had more than 750,000 foreclosed homes in its database of
properties for sale, equal to about 17 percent of the 4.5 million U.S. homes that were up for sale in June.

EU: Euro Economy Shrinks in Second Quarter
Growth
in the 15 economies that share the euro currency contracted by 0.2
percent from the first quarter, expanding just 1.5 percent from the
same period a year ago, the EU statistical agency Eurostat said.

How moon rocks could power the future
The
moon is once again a popular destination, as several space-faring
nations are talking about setting up bases there. One reason would be
to mine fuel for future fusion reactors.

The
fuel in this case is helium-3, a lighter isotope of the helium used in
balloons. In high energy collisions, helium-3 fuses with other nuclei
to release more energy and less waste than the reactions in traditional
nuclear reactors.

Signs of the Times. Just click through … you’ll see.

Thought for the day:

If we stopped driving our cars tomorrow, America
would still need five million barrels of oil a day. Rubber, Plastic,
Nylon, Aerosols, Resins, Solvents, and Lubricants–none can exist
without oil. — The History Channel

Last 5 posts by Sean Brodrick

• The Golden Phoenix - February 25th, 2009
• Blessing in Disguise - February 4th, 2009
• What I'm Reading Today - January 7th, 2009
• Gold and Oil Short-Term Trends - January 7th, 2009
• Is Gold Poised for a Pullback? - January 6th, 2009