Petrobabble

One of the respondents on a blog I read made an excellent point the other day. “Everybody agrees that oil is the most important substance on the planet. Given that, how is it possible that there is total confusion about the most basic facts relating to it.” Anyone making even the slightest attempt to research the subject of oil will […]

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Summertime blues

Spring will be followed by winter. That’s the best way of summing up the state of the global financial markets. Winter – a deep, ferocious, storm-laden winter – last ended on March 17, when the Federal Reserve, aided and abetted by the Department of the Treasury, gave JPMorgan $30 billion with which to buy Bear Stearns, and gave Bear Stearns […]

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The food chain

Iowa has suffered exceptionally heavy rainfall these last few weeks. Shas will do well in the upcoming Israeli general election. Not only are the two preceding statements NOT random, they are directly connected by a chain of cause and effect. So try and remember — when the fatuous talking heads on the TV post-election all-night coverage express their amazement at […]

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Twin reversal

Two separate developments occurred this week that signal fundamental changes of trend in the foreign exchange markets. One was local and saw the shekel finally reverse course and fall against all the major global currencies, after a period of prolonged strength that took its value versus the US dollar to a level not seen since 1997. The other was global, […]

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Supershekel

Most Israelis would agree that this week saw their country’s politics plunge to a new nadir in terms of morality and behavioural standards. Indeed, opinions polls confirm that an overwhelming majority want to see Ehud Olmert leave office immediately and feel no need to find out if there is sufficient evidence to indict him, let alone find him guilty of […]

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The Battle of Moscow

This year’s European Champions League Cup Final, played in Moscow on Wednesday night between Manchester United and Chelsea, was a genuine drama extending through full time into extra time and on to the agonising penalty shoot-out. Along the way, there was some excellent football, mostly from Chelsea, but that was the team that ended up losing – to the chagrin […]

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