Woops – Goldman Sachs’ Bad Bet

Looks like somebody at Goldman decided to go long on oil futures.  Or, they’re knee deep/bullish on big oil stocks.  Regardless, worthless announcements like yesterday’s (see below) won’t help other than a quick $4 rise in oil futures prices.

http://www.forbes.com/feeds/ap/2008/07/30/ap5271343.html

“A report by Goldman Sachs predicting prices could hit $149 a barrel by the end of year is also feeding the rally.”

Goldman better hope Iran gets some sanctions slapped on them and/or the fed proves even more worthless and does nothing to the interest rate.  BTW – Oil fell slightly in overnight trading.

$3.50 a gallon coming to a station near you though a lot of people are still aiming for $150-$175+ a barrel.  e.g. The Libyan state oil company head (see below) is bullish on oil too.  I wonder why?

http://www.forbes.com/afxnewslimited/feeds/afx/2008/07/31/afx5274405.html

“There is a big fall because prices are currently high,’ he said by telephone. ‘When prices are 130 or 140 dollars per barrel, they fall back more sharply.’

He said that ‘we are following developments (on prices) closely … but we think they will rebound.'”

Fed – it’s time to act…hike the interest rate as originally seen on BccList.com here. Bla.

Update: Oil traded even lower during the day trading today – July 31st.  Awesome.

http://afp.google.com/article/ALeqM5jZe61qipa4iGfZlJ5wNUYWfnZrDg

Who at Goldman Sachs put out that “prediction?”

Note – we’re not out of the “busy driving season” yet so I can’t fully taunt the clowns at Goldman.

CNN Main Page – Taunting Pot Smokers All Over the World

I betcha CNN.com is getting about 420 extra hits a second right now and people are gearing up for an extra long lunch.

Click picture(s) below for screenshot(s) in the event that CNN finally pulls the plug on highlighting drug use on their main page…

Update 1: The CNN main page updated with another pic – those bastards…

Update 2: They finally pulled the pic AND story from the main page.  Here is the link to the original story.

And Then There Were (Supposedly) Three

Tim Kaine, Joe Biden, and Evan Bayh.

It truly doesn’t matter since the general election race is over.  It’s worth noting, I’ve not really paid attention to the VP vetting process once Obama’s additional vote getter – Jim Webb – ADAMANTLY said he would not seek the position.

Regardless, the “scary” thing about all three of these candidates without military experience is that mccain will immediately select a Tom Ridge (security of homeland security from the purple state PA) or somebody with vast military experience to scare the shiat out of us.  Of course, there will be an October Surprise in an attempt to solidify that fear.  But, I don’t think any of Obama’s current and continuous/unwavering 47% support is going anywhere regardless.

Blue = positives.  Purple = so-sos. Red = negatives…

Tim Kaine: Mainstream Media’s shoe in. Born in a purple state – Minnesota.  Went to school in a purple state – Missouri.  Catholic – but, not your normal Catholic.  He took a year off to work for a Roman Catholic missionary.  Mayor, Lieutenant Governor, and now a Governor of a red state that is turning purple if not blue – e.g.  Kaine, Webb, Obama finally up in the VA general election polls, etc. Aside from the aforementioned lack of military experience (all three “front runners”), somebody find me a negative other than his receding hair line and cartoonish looking face.

Joe Biden: Fan favorite during the 2008 dem debates.  Old as the day is long.  Catholic. Vast foreign policy experience/connections.  Born in PA. But, the plaigarizing “scandal” from a past presidential run and being only a senator from an “unimportant” state (Delaware) doesn’t help.

Evan Bayh: Who?  Exactly. Senator and current Governor of Indiana. Awkward HRC supporter. I’d rather see mccain have to waste money in VA trying to beat out Obama with Kaine as his running mate since mccain will probably carry Indiana even with Bayh on the ticket.  Also, not a Catholic.

An Open Blog Posting to the People of Iran

Dear Iran,

Your president makes you look crazier than you probably are!  Don’t worry though, we (alone) can’t afford another “Shock and Awe” and/or managing another country that has turned into civil unrest.  So, you’re in the clear for now though it has to be known your president is a worldwide laughing-stock.  I know, I know – our idiot isn’t much better.

http://www.cnn.com/2008/WORLD/meast/07/29/iran.aids.ap/index.html

Per the link above, Ahmadinejad is nuttier than Mike Tyson and the senile version of Ralph Nader combined.  Translated: That’s fcking SUPER crazy.

Along with previously denying the existence of the Holocaust, the following (from the linked cnn article) is laughable…

“The big powers are going down,” Ahmadinejad told foreign ministers of the Nonaligned Movement meeting in Tehran. “They have come to the end of their power, and the world is on the verge of entering a new, promising era.

Iran’s president on Tuesday blamed the U.S. and other “big powers” for nuclear proliferation, AIDS and other global ills, and accused them of exploiting the U.N. and other organizations for their own gain and the developing world’s loss.”

Ok, I’ll reluctantly concede nuclear proliferation.  AIDS?  Other global ills? The world is on the verge of entering a new, promising era?

Those Bastards at Ford Are Reading My Blog!

From last week – a few days before Ford posted an $8 billion loss…

http://online.wsj.com/article/SB121677426674075729.html

“On Thursday, Ford will announce a plan to transform three North American truck plants to build small cars developed originally for European markets, according to people briefed on the company’s plans.

The plants will be retooled to make compact cars based on a common set of components that Ford now uses in Europe to produce several models. They include the Focus subcompact — which is a sportier version of the Focus Ford sells in the U.S. — as well as the Kuga crossover and the C-Max small wagon.”

As originally seen on BccList.com here

“Judging by the cars you see on the highways, Italians/Europeans definitely think Ford first.  If not first, then second or third.  I see how Ford turned a profit in Q1.  Amazing – Ford should release their standard 4 door European car that I’ve been seeing everywhere in America.  It’s efficient but large enough for a family.  No, it’s not the ugly Ford focus we’re used to in the states…it actually looks decent.  Ford, this isn’t rocket science – you figured things out in Italy/Europe.  Now duplicate the business model of making decent/efficient cars in America.”

Even though a blogger on an overseas trip “announcing” things slightly faster than a company that should have seen this trend 5+ years ago is concerning, I obviously still think there is value in Ford stock as originally seen on BccList.com here.  It was trading at $6.25 last week.  The buy is at least a 2-3 year investment and that’s considered long term for some traders.