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October 22
A Wonder That May Save The Planet
The UK's Daily Mail called it, "A wonder...that may save the planet."
Forbes predicts it will have the same economic impact oil has had.
And Horacio Marquez has found a way to play it that could turn every $10,000 into $290,400.
Click here to read Horacio's report while it's still available.
A Money Morning Interview: The Future of Energy
Renowned Oil Expert Dr. Kent Moors Details Shortages of Oil, the Impact of Higher Prices, the Promise of New Technologies and the Opportunities For Investors
Dr. Kent Moors is one of the world's foremost experts on oil, energy policy, finance, risk management and new technologies. Moors advises the leaders of six oil-producing countries, including the United States, as well as global corporations and banks operating in 25 countries.
Moors is the founder and director of the Energy Policy Research Group, which conducts analyses and makes recommendations on a range of energy-related issues. He is also the president of ASIDA Inc., a worldwide advisor on the oil-and-natural-gas markets.
In an interview with Money Morning Executive Editor William Patalon III this week, Dr. Moors detailed the top current energy challenges in the global economy, and also provided investors with a look at some of the looming new technologies, as well as a future in which China is a dominant global energy player.
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Take Ownership in Real 24-Karat Gold Bullion Bars... for $20
If you have any money in U.S. dollars, you need to know about this. According to Reuters, the dollar just crashed to a new 14-month low. That means all dollar-denominated assets in your portfolio have lost value, too. But there's a new and super-simple way to protect your assets.
Starting with just $20, you invest in an alternative currency backed by solid, 24-karat gold bullion bars. They could protect your assets from the falling dollar. And they could also double your money - quickly. For details, please read the full report here.
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Banks Threatened as Washington Takes on Overdraft Fees
By Bob Blandeburgo
Associate Editor
Money Morning
Charges related to overdrawn accounts this year may add up to $38.5 billion in revenue for banks following last year's $36.7 billion, according to data from research firm Moebs Services Inc. That's up from $28 billion collected in 2007, according to consulting firm Oliver Wyman Group.
But sneaky and manipulative ways in which banks collect these fees has caught the attention of Washington.
U.S. Sen. Christopher Dodd, D-CT, – who heads the Senate Banking Committee – earlier this week introduced a bill to limit overdraft charges with several measures. While introducing the bill at a press conference, the senator was joined by Connecticut resident Mario Livieri, who Dodd says was unfairly hit with overdraft fees this year.
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Investment News Briefs
With our investment news briefs, Money Morning provides investors with a quick overview of the most important investing news stories from all around the world.
Wells Fargo Cut Sends Markets Down; Fed Beige Book Shows Tepid Progress; Obama Administration To Cut Executive Pay at Top TARP Companies by 50%; Boeing Shares Fall After Loss; E-Reader Introduction Fails to Impress B&N Shareholders; Oil Hits New 2009 High - Wells Fargo & Co. (NYSE: WFC) saw its profit skyrocket to $3.2 billion in its third quarter, but its shares from fell 5.02% to close at $28.93 after analyst Dick Bove cut the bank's rating to "sell," saying earnings were boosted by mortgage-servicing fees instead of improving business trends, Bloomberg News reported. The cut had a ripple effect on all three major market indices in the last hour of trading yesterday (Wednesday), sending the Dow Jones Industrial Average below 10,000 again to 9,949.36, the Standard & Poor's 500 Index down 9.66 to 1,081.40 and the Nasdaq Composite Index down 12.74 to 2,150.73.
- Housing and manufacturing helped the U.S. Federal Reserve's 12 district banks see "stabilization or modest improvements" in many areas of the economy, according to the Fed's latest Beige Book report. Still, all regions recorded weak or declining commercial real estate markets and the economy. The Fed said demand for bank loans was "weak or declining," and that several regions reported a "further erosion of credit quality." The Beige Book "was more pessimistic than I expected," John Silvia, chief economist at Wells Fargo Securities LLC told Bloomberg News. "Economic improvements are modest at best with significant downside in terms of banking and bank loans. The Beige Book says the Fed is nowhere near ready to raise rates for any reason."
- The Obama administration will order seven of the biggest beneficiaries of the Troubled Asset Relief Program (TARP) to slash cash payouts to their 25 best-paid executives by an average of roughly 90%, The New York Times reported, citing an official involved with the decision. Instead of cash, many of these executives will get stock that they will be restricted from selling right away. The result will be a drop in total compensation by about 50%. Companies named in the report were Citigroup Inc. (NYSE: C), Bank of America Corp. (NYSE: BAC), American International Group Inc. (NYSE: AIG), General Motors Corp. (NYSE: GRM), Chrysler Group LLC, as well as the financing arms of the two automakers.
- Shares of The Boeing Co. (NYSE: BA) fell 2.43% to close at $50.63 after the company posted a worse-than-expected loss and cut its profit outlook amid manufacturing problems with its 787 and 747 planes. Excluding a loss from discontinued operations, Boeing posted a loss of $2.22 per share, compared to estimates of $2.12 in a Thomson Reuters poll of analysts. Boeing now expects to earn between $1.35 and $1.55 per share, down from previous guidance of between $4.70 and $5.00 per share. The company said it was still on track for a test flight of its 787 Dreamliner before the year is over.
- Investors in Barnes & Noble Inc. (NYSE: BKS) weren't impressed with the introduction of the company's e-book reader, dubbed the "nook." Shares in the book retailer fell 2.65% to close at $18.40 in trading yesterday (Wednesday). The nook will go head-to-head with Amazon.com Inc.'s (Nasdaq: AMZN) Kindle this holiday season and sell for $259. The nook boasts many of the same features found in Kindle, but adds wi-fi support, a color LCD screen at the bottom as well as support for MP3 audio files and audio books. The nook's biggest advantage will be visibility in more than 778 Barnes & Noble brick-and-mortar retail stores.
- The chairman of China's sixth-largest bank China Merchant's Bank Co. Ltd., Qin Xiao, said in a Financial Times column that the central government needs an "urgent" tightening of its monetary policy to prevent its $585 billion stimulus plan from inflating stock and property bubbles. The government shouldn't be afraid of a "moderate slowdown" in the economy resulting from a pullback of stimulus. "Monetary policy must not neglect asset-price movements," he wrote. "Therefore it is urgent that China shifts from a loose monetary policy stance to a neutral one."
- Benchmark crude oil prices yesterday (Wednesday) hit another annual high, rising $2.25 to settle at $81.37 a barrel on the New York Mercantile Exchange (NYMEX) as the dollar fell to new lows against the euro. "The dollar obviously is the overriding factor," PFGBest analyst Phil Flynn told The Associated Press. "It's not about demand I can tell you that."
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What is 'the third element'?
10/21/2009
Land of Rising Debt: Falling Tax Revenue Forces Japan to Sell More Bonds
10/21/2009
Galleon Insider Trading Scandal Rocks Investors & Technology Giants
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China Looks to 2010 After Another Strong GDP Report
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This One Mistake Could Ruin Your Retirement
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October 20
| Housing Starts (09/09) |
| PPI (09/09) | | October 21 | Fed Beige Book | October 22
| Initial Jobless Claims (10/17) | | Leading Eco. Indicators (09/09) | | October 23 | Existing Home Sales (09/09) | Worth Considering
This Little-Known Billionaire Tripled His Net Worth While Buffett Lost $10 Billion
Buy, Sell, or Hold?
by Horacio Márquez
Insights on Income
by Martin Hutchinson
Inside Wall Street?
by Shah Gilani
When and How the U.S. Economy Will Recover
Three Big Reasons Oil Prices Will Rally Back Big Time
Alternative Energy
Asia
Commodities
Europe
Global Markets
Gold/Precious Metals
Oil
Real Estate
Technology
U.S. Economy
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