Don't worry, be happy

Investment analyst and entrepreneur Dr. Marc Faber concluded his monthly bulletin (June 2008) with the following:
''The federal government is sending each of us a $600 rebate. If we spend that money at Wal-Mart, the money goes to China.
If we spend it on gasoline it goes to the Arabs.
If we buy a computer it will go to India.
If we purchase fruit and vegetables it will go to Mexico, Honduras and Guatemala.
If we purchase a good car it will go to Germany.
If we purchase useless crap it will go to Taiwan and none of it will help the American economy.
The only way to keep that money here at home is to spend it on prostitutes and beer, since these are the only products still produced in US".
and you?"

Pakistan's military to fire on US troops

Pakistan's military said today its forces had received orders to fire on US troops if they entered Pakistani territory, after a cross-border raid inflamed public opinion.

The country's civilian leaders, who have taken a tough line against militants, have insisted Pakistan must resolve the dispute with the US through diplomatic channels. But the military has taken a more robust line.

General Athar Abbas, an army spokesman, told the Associated Press that after a cross-border assault in the south Waziristan region earlier this month, the military told its field commanders to take action to prevent any similar raids.

"The orders are clear," Abbas said in an interview. "In case it happens again in this form, that there is a very significant detection, which is very definite, no ambiguity, across the border, on ground or in the air: open fire."

Barack Obama : "You can put lipstick on a pig"

- a reference the Republican campaign claim to their Sarah Palin. "You can wrap an old fish in a pieceof paper called change. It's still going to stink."

Americans dont need a coach to win

In the days since a knifing attack at a Beijing tourist attraction, the coach of the U.S. men's volleyball team said his family has been consumed with the shock of his father-in-law's death and with arranging care for his severely wounded mother-in-law. Hugh McCutcheon said he has been helping his wife Elisabeth Bachman, a former Olympian, "talk through" the grief. Beyond that, he said he realized the attack has affected his men's team, which worked hard to qualify for the Beijing Olympics, and the women's team, including teammates of Elisabeth at the 2004 Athens Games.

USA - Venezuela 3-2 USA -Italy 3-1. I suspect the Americans are main challengers of the Gold in Beijing.

Is the ECB chasing its own tail?

Should they shock oil speculators by leaving
rates unchanged tomorrow?
Over the last week a few analysts have argued that the European Central Bank
is chasing its own tail. The argument goes like this: The ECB hikes interest
rates to fight inflation, a higher interest rate in Europe pushes EUR/USD
higher, a rising EUR/USD pushes oil prices higher, record oil prices increase
inflation pressures, and we're back at square one. These analysts argue that
the ECB is actually fueling inflation by raising interest rates

Will americans get out

of the tight china-russian grip? In this Wimbledon experts wait for repetition of Williams sisters final. Here are the probabilities: link

Jie Zheng/ S.Williams	1/6
E.Demetieva/V.Williams	1/3

Iran to dig thousands of graves for enemy soldiers

IRAN is to dig 320,000 graves in border districts to allow for the burial of enemy soldiers in the event of any attack on its territory, a top commander said today.

"In implementation of the Geneva Conventions ... the necessary measures are being taken to provide for the burial of enemy soldiers,'' the Mehr news agency quoted General Mir-Faisal Bagherzadeh as saying.
"We have plans to dig 15,000 to 20,000 graves in each of the border provinces or a total of 320,000,'' the general said, adding that some of them would be mass graves if necessary.
Mr Bagherzadeh said Iran was keen to "reduce the suffering of the families of the fallen in any attack against our country ... and prevent any repetition of the long and bitter experience of the Vietnam War''.
His comments came as the United States continued to refuse to rule out an eventual resort to force against Iran over its contested nuclear program, which the West fears is cover for a drive to build an atomic weapon.
P.S. WTI 141.63

Iran Gen Warns Would Use Control Of Strait If Attacked

TEHRAN (AFP)--The chief of Iran's elite Revolutionary Guards warned that Iran
would use its control of the Strait of Hormuz in response to an attack, a
newspaper reported on Saturday.
"It is natural that when a country is attacked it uses all of its
capabilities against the enemy, and definitely our control of the Persian
Gulf and the Strait of Hormuz would be one of our actions," General Mohammad
Ali Jafari told the conservative daily Jam-e Jam.
The strait is a vital conduit for energy supplies, with about 20%-25% of the
world's crude oil from Gulf oil producers passing through the waterway.
"Certainly if there is fighting... the scope will be extended to oil, meaning
its price will increase drastically. This will deter our enemies from taking
action against Iran."
His comments came after U.S. media reported that more than 100 Israeli
warplanes staged a training exercise with Greece earlier this month to
prepare for a possible long-distance strike - a maneuver seen as a warning to
Tehran.

Lukoil opened America.

06.09.2008 Lukoil shipped first 70,000 mt of crude oil from its new Barents Sea Varandey terminal to canadian port Come By Chance. Link

Ana Ivanovich - you are the best of the best!

I adore you!

What drives oil prices up if market is well supplied?

DUBAI (Zawya Dow Jones)--The United Arab Emirates, the fourth-largest oil producer in the Organization of Petroleum Exporting Countries, will be ready to pump more crude if demand increases, an official said Thursday.

"The U.A.E. is ready to supply the market with more oil if needed," Ali Obaid Al Yabhouni, the emirates' OPEC governor told reporters in Dubai. "But our markets are satisfied and they have not asked for more."

On the New York Mercantile Exchange, light, sweet crude futures for delivery in July traded at $130.37 a barrel at 0645 GMT, losing 66 cents in the Globex electronic session.

OPEC nations are coming under relentless pressure from consumers in Europe and the U.S. where there is rising concern that high fuel costs may lead to a steep economic downturn.

Al Yabhouni added "these current prices are moving too fast, too high." The U.A.E. pumps about 2.6 million barrels a day of crude and ranks behind Saudi Arabia, Iran and Venezuela in OPEC's output hierarchy.

The International Energy Agency predicts world oil demand will increase by 1 million barrels a day to 86.8 million barrels a day this year as oil use grows in emerging economies such as China.

In the U.S., the world's largest oil consumer, demand has been wilting amid record high prices and a faltering economy. The Energy Information Administration on Wednesday reported U.S. oil demand fell by 4.3%, or nearly 900,000 barrels a day, in the first quarter, to 19.9 million barrels a day. That's the lowest level of consumption for any quarter since mid-2003.

Hasan Qabazard, head of research at OPEC, which pumps about 40% of the world's oil, said Thursday that oil stocks had gained in the second-quarter.

Qabazard, who advises OPEC's 13 ministerial delegations, told reporters in Dubai that he expects stocks to build "even higher" this year dampening expectations that the cartel may cave into political pressure and hold an impromptu emergency meeting ahead of its next scheduled gathering in September.

One exporter less ...

May 28 (Bloomberg) -- Indonesia, the only OPEC member in Southeast Asia, will pull out of the organization as its oil imports exceed exports

D Safina surprisingly passed through J. Enen (1/4) and S. Williams (1/2).

В финале 13-я в рейтинге WTA Динара уверенно победила Е. Дементьеву (7) 3:6, 6:2, 6:2, которая лепила детские ошибки одну за другой. Победительница получила $240,000 призовых.
After the defeat in Berlin J.Enen first in WTA ranking decided to leave tennis.

Любите ли вы Путина, как люблю его я?

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