They were shooting...Yesterday. In the forest. In Vladimir Oblast. A shot thundered practically right over my head. Luckily for me and for the duck flushed from the mirror-like marsh, the hunter missed.

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By the way, they were shooting for certain, not only yesterday and not only in Vladimir Oblast - the hunting season continues in Russia. The period of killing feathered creatures in the Moscow region began back on 25 July and will continue through 30 November. Then, in November, the season will open for beavers, moose, boars...hunting season continues, in essence, year round on the vast spaces of our motherland, which for now is still

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By Cees Bruggemans, Chief Economist FNB.

SARB Governor Marcus today announced no change to interest rates, following a two day meeting of the Monetary Policy Committee.

Though there was a tremendous change in presentation style, there was none in policy substance.

The Governor presented her MPC team upfront and it was clear that wide-ranging discussions had taken place to come to the policy decision that was unanimously taken.

Thus there is a clear sense of institutional continuity that no doubt will be widely welcomed by financial markets.

As to the actual decision of leaving interest rates unchanged, it very much focused on the level and behaviour of inflation over the coming year, and the risks to this outlook.

The Governor described CPI inflation as likely hovering around 6% through the coming two years, probably just with the 3%-6% target zone, going by the MPC statement.

The Governor repeatedly emphasized

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HOUSTON, Nov. 16, 2009 (GLOBE NEWSWIRE) — Lucas Energy, Inc. (NYSE Amex:LEI), an independent oil and gas company (the “Company”) based in Houston, Texas reports the financial results from operations for second quarter of fiscal year 2009-2010.

For the second quarter fiscal year 2009-2010, the Company reports:

Revenues for the quarter ended September 30, 2009 were $414,218 as compared to $441,464 in the first fiscal quarter of year 2009-2010. Lower oil revenues in the current quarter were due primarily to lower oil sales (-20%) partially offset with higher prices realized from oil sales (+19%) in the second fiscal quarter. The reduction in oil sales was due to wells that were offline for workovers and chemical treatments in preparation for production increases as crude oil prices remain high EBITDA from oil and gas operations was $6,359 for the three months ended September 30, 2009, as compared to negative EBITDA totaling $(248,605) ...

By Cees Bruggemans, Chief Economist FNB.

Every SARB Governor these past forty years, from De Jongh to De Kock to Stals to Mboweni, has implied major change in style and policy substance.

We should expect something similar from Governor Marcus who likewise will undoubtedly stamp her own imprint on the office.

Where is she likely to lead us? Though history cannot offer any exact parallels, for circumstances are always unique, one is allowed to wonder.

The changeover from Governors De Kock to Stals now already twenty years ago still comes vividly to mind, and may be useful to recall.

Governor De Kock ultimately proved too determined to use interest rates pro-actively, trying to overly influence demand in an economy that was seriously malfunctioning on the supply-side.

Policy was increasingly desperate to still wring some more performance from a system that could no longer deliver, using demand manipulation to do

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Clenergen Corporation was pleased to announce this morning that it has closed the previously announced share exchange agreement with Clenergen Corporation Limited, a United Kingdom Corporation (”Clenergen UK”). As previously agreed upon, the company issued 13,643,045 restricted shares of its common stock to the former shareholders of Clenergen UK.

Clenergen was also pleased to announce that it has appointed Dr. Arvind Pandalai, Mr. Robert Kohn, Mr. David Sonnenberg, Mr. Mike Starkie, Mr Dale Shepherd and Mr. Jack Dickey to its board of directors. Details regarding the closing of the share exchange agreement can be found in the company’s continuous disclosure documents as filed on www.sec.gov.

Let us hear your thoughts: Clenergen Corporation Message Board

U.S. stocks surged Monday, with the Dow Jones industrial average storming to its highest level in more than 13 months as finance ministers from the Group of 20 industrialized nations pledged to continue economic stimulus measures to help the global economy.

The Dow Jones industrial average, which was well supported by strength in its all but one component, rose 203 points, or 2.0%, to a 13-month high of 10,227.  The S&P500 climbed 2.2% for its sixth straight session gain to 1093 and the tech-heavy NASDAQ gained 2.0% to close at 2154.  The market’s measure of volatility, the CBOE Vix, plunged 4.3% to 23.15.

All ten S&P500 industry groups ended in the green, led by gains in basic material shares (+3.5%) and financials (+3.5%).  Crude prices added $2.00 to close at $79.43 even as Hurricane Ida was downgraded to a tropical storm.  Gold prices went past the $1100 level, up

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(click on pictures for better viewing)

It is indeed an old adage that while goods things are to be preferred over bad things it is possible to get too much of the former. Looking at recent comments from the governor of the Reserve Bank of Australia it is not difficult to imagine how these, albeit old and worn, pearls of wisdom may well have inspired Mr. Stevens in his effort to tiptoe the thigthrope between signalling the intention to raise rates into an expected economic recovery on the one side and trying to prevent the Aussie shoot of on helium into the sun with wings of wax on the other.

(quote Bloomberg)

Australia’s central bank Governor Glenn Stevens signaled a surge in the nation’s currency to near parity with the U.S. dollar has given him scope to slow the pace of future

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This post provides links to a number of interesting articles I have read over the past few days that you may also enjoy.

• Vito Racanelli (Barron’s): The easy money has been made, November 2, 2009. The choppy action last week suggests the going gets much tougher from here. In a year in which the market has jumped far off its lows, the bull has so far talked the talk of earnings growth. It’s time to walk the walk.

• Edward Harrison (Credit Writedowns): Bullish data, recoveries, crashes and the psychology of forecasting redux, November 2, 2009. Is a double dip or crash a baseline scenario? No, not necessarily - but it is increasingly likely. So, as bullish as I believe the data are, I am more worried about a bad outcome, not less.

• Andy Kessler (The Wall Street Journal):

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This post provides links to a number of interesting articles I have read over the past few days that you may also enjoy.

• Vito Racanelli (Barron’s): The easy money has been made, November 2, 2009. The choppy action last week suggests the going gets much tougher from here. In a year in which the market has jumped far off its lows, the bull has so far talked the talk of earnings growth. It’s time to walk the walk.

• Edward Harrison (Credit Writedowns): Bullish data, recoveries, crashes and the psychology of forecasting redux, November 2, 2009. Is a double dip or crash a baseline scenario? No, not necessarily - but it is increasingly likely. So, as bullish as I believe the data are, I am more worried about a bad outcome, not less.

• Andy Kessler (The Wall Street Journal):

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FuelCell Energy Inc. is a global leader in the development and production of stationary fuel cells with established partnerships with major power plant developers and power companies around the world. The company recently announced that California Governor Arnold Schwarzenegger signed legislation set to promote continued development and use of alternative energy technologies through 2015; in response, FuelCell said it expects the legislation to boost demand for its fuel-cell products.

Governor Schwarzenegger signed an extension to the Self-Generation Incentive (SGIP) program to extend funding for various clean energy technologies, including FuelCell’s ultra-clean stationary fuel cell power plants.

Since its inception in 2001, SGIP has provided support for roughly 15 megawatts of FuelCell’s Direct FuelCell power plants in California. The program was created to promote on-site production of electricity to alleviate strains on the state’s utility grid while reducing greenhouse gases.

“California has always led the way in the deployment of clean

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