It Ain’t Over Till It’s Over
Source: http://blogs.moneyandmarkets.com/blog/red-hot-energy-and-gold/0/0/it-aint-over-till-its-overPosted on Friday, December 12th, 2008 | In Energy Markets, Gold Markets
Even though the Senate failed to pass a bailout for US automakers, it looks like Detroit may get money after all … A href=http://www.swamppolitics.com/news/politics/blog/2008/12/white_house_signals_tarp_use_f.htmlSTRONGThe White House just announced /STRONG/Ait’s considering bailout out Detroit’s Big 3 using the Treasury Department’s TARP program, the $700 billion rescue fund.brbrBut didn’t Bush say he WOULDN’T use the TARP money to help the automakers? Sure he did (A href=http://www.financialweek.com/apps/pbcs.dll/article?AID=/20081212/REG/812129995/1036STRONGthrough Treasury Secretary Paulson/STRONG/A). But he doesn’t want to go down in history as the President who let the automakers die — he’d much rather Obama get that title (ha-ha). brbrAnyway, this turned around the market this morning, so it’s off its lows (but still down). And we don’t know where we’ll end the day. Up 100? Down 300? I don’t know. As I said in my previous post, we’d probably have a sell the news reaction to a bailout passing anyway.brbrAnd as I also said earlier, if the automakers can hold out until January, they have a much better chance of getting money out of the new Congress.brbrSomeone needs to get a hook and yank the head of the UAW off the air. He’s horrible — his presentation doesn’t help his case. After listening to him, it sounds like it’s better for auto workers NOT to have a union.
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
Congress, Department of the Treasury, Detroit, Energy Markets, Gold Markets, Senate, United States, USD, White House
 About Sean Brodrick (http://blogs.moneyandmarkets.com/blog/red-hot-energy-and-gold)
Sean Brodrick joined Weiss Research in 2000 as an analyst, bringing more than 25 years experience as a journalist and financial analyst to the position. He is Weiss Research’s small-caps specialist, especially in natural resources, and is the editor of the company’s Red-Hot Canadian Small-Caps, as well as a regular contributor to its daily e-letter, Money and Markets. Previously, Mr. Brodrick was the investment director of The Sovereign Society, the world’s leading publisher of offshore asset protection strategies and global investment opportunities. Recognized for his expertise on natural resources and Canadian and Australian investment opportunities, Mr. Brodrick has been featured on many financial talk shows, including CNBC Squawk Box, Fox Business, CNN, The Glenn Beck Show, Your World with Neil Cavuto and Bloomberg Market Line. He is a weekly guest on Market Matters Radio, a contributing columnist to MarketWatch.com and a frequent commentator on one of Canada’s premiere financial websites, HoweStreet.com. His report, “70 Days to Empty,” has garnered acclaim for its analysis of the forces pushing America toward its next oil crisis and was described by The Daily Reckoning as “the most important report you’re likely to read this year,” while his knowledge of uranium has helped investors earn solid gains on the commodity. Mr. Brodrick holds a B.A. degree from the University of Maine. |
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