Everything seemingly is spinning out of control

[hampshirebrit]

Maybe Bush is a genius.

Not likely - but this venture into ‘oil country’ (our folly in the Middle East) might be part of someone’s master plan - an alternate to the Japanese’s reaction to our cutting off their source of oil prior to WWII. Piss the Arabs off to the point that they start some high caliber shooting and we just go in a blow the living Hell out of everyone and nationalise the entire region for their natural resources.

It might cost tens-of-thousands of casualties on our side, but remember, nobody ever said war was without cost.

Sounds good to me.

Shell, BP and Exxon Mobil are far better at exploration, management and recovery than Saudi Aramco.

[LogansPapa]

U.S. Stocks Slump, Pushing Dow Average to Brink of Bear Market

By Michael Patterson

June 27 (Bloomberg) -- U.S. stocks fell, pushing the Dow Jones Industrial Average to the brink of a bear market, on concern subprime-related writedowns at banks will worsen and record oil and a slowing economy will prolong the worst profit decline since 2002.

The Dow extended its retreat from an all-time high in October to almost 20 percent, the threshold for a so-called bear market. American International Group Inc. and Merrill Lynch & Co. helped send the Standard & Poor's 500 Financials Index to the lowest level since March 2003 on speculation of mounting losses. Consumer stocks in the S&P 500 slipped to a five-year low as oil topped $142 a barrel.

The Dow lost 115.29 points, or 1 percent, to 11,338.13 at 3:31 p.m. in New York, leaving it 6.51 points away from a bear market. The 30-stock measure fell 10 percent this month for the worst June since 1930. The S&P 500 slid 6.50, or 0.5 percent, to 1,276.65. The Nasdaq Composite Index slipped 11.80, or 0.5 percent, to 2,309.57. Seven stocks declined for every four that rose on the New York Stock Exchange.

http://www.bloomberg.com/apps/news?p...efer=worldwide

[lacarnut]

U.S. Stocks Slump, Pushing Dow Average to Brink of Bear Market

By Michael Patterson

June 27 (Bloomberg) -- U.S. stocks fell, pushing the Dow Jones Industrial Average to the brink of a bear market, on concern subprime-related writedowns at banks will worsen and record oil and a slowing economy will prolong the worst profit decline since 2002.

The Dow extended its retreat from an all-time high in October to almost 20 percent, the threshold for a so-called bear market. American International Group Inc. and Merrill Lynch & Co. helped send the Standard & Poor's 500 Financials Index to the lowest level since March 2003 on speculation of mounting losses. Consumer stocks in the S&P 500 slipped to a five-year low as oil topped $142 a barrel.

The Dow lost 115.29 points, or 1 percent, to 11,338.13 at 3:31 p.m. in New York, leaving it 6.51 points away from a bear market. The 30-stock measure fell 10 percent this month for the worst June since 1930. The S&P 500 slid 6.50, or 0.5 percent, to 1,276.65. The Nasdaq Composite Index slipped 11.80, or 0.5 percent, to 2,309.57. Seven stocks declined for every four that rose on the New York Stock Exchange.

http://www.bloomberg.com/apps/news?p...efer=worldwide

Buy domestic med. cap drillers of oil/natural gas, coal along with chemical stocks and prosper. Watch what happens the last trading day of the month (Monday) which on average gives investors a 2% gain because of increased volume. Also, by the end of next week when reports of June's retail sales come in, the market will go up because of consumers spending their rebate checks. May was a great month, June a shitty one and July will be a great one. I am betting on it.

[lacarnut]

Maybe Bush is a genius.

Not likely - but this venture into ‘oil country’ (our folly in the Middle East) might be part of someone’s master plan - an alternate to the Japanese’s reaction to our cutting off their source of oil prior to WWII. Piss the Arabs off to the point that they start some high caliber shooting and we just go in a blow the living Hell out of everyone and nationalise the entire region for their natural resources.

It might cost tens-of-thousands of casualties on our side, but remember, nobody ever said war was without cost.

The Iraq's only want the west's expertise in purchasing equipment and technology. The Iraq's will provide their own labor for the actual drilling. Giving away our technology may not be such a great idea. Chavez found out the hard way that EXXON was a valuable partner in drilling for oil. Since EXXON left, their production has gone down considerably.

If we ever wanted to bring these oil rich M.E. and commie countries to their knees we could do 2 things. Prohibit the sale of oil equipment (rigs) and parts along with bar any US company from doing business with them and cut off food exports.