TFN eNews 06/30/2009: ” 2 new reader grapevine stocks”
Published via e-mail broadcast on June 30, 2009
In today’s TFN eNews:
* Far from the Madoffed crowds
* 2 new reader grapevine stocks!
* Iraqi oil auctions
Dear TFN Reader,
Don’t call it rearranging the deck chairs aboard the Titanic! Even if the latest bit of news from the White House makes you wonder what’s really going on in those illustrious minds.
In the face of plummeting Consumer Confidence and collapsing retail sales, you and I might not have prioritized the regulation of lightbulbs, for example.
But apparently, this is one area that could really recharge American consumerism! The General Secretary Obama said: “This will save consumers money, this will spur innovation, and this will conserve tremendous amounts of energy.”
The White House already has released new standards on commercial refrigeration. Light fixtures are next. According to the Administration, 7% of all energy consumed in the U.S. is used for lighting. New standards, which will take effect in 2012, will cover fluorescent and incandescent lamps and lighting equipment in households and commercial buildings.
Now, the existing efforts of the Administration have focused on pumping borrowed money into “green” energy, healthcare, and education. Mostly service industries that require someone down the line will pay for it. Manufacturing and production of anything, on the other hand,will either take care of itself… or at least will play no role worth mentioning in that New America.
An America that has forgotten that saving a dollar is far less hard than actually creating a dime in new revenues.
In this regard, Lightbulb Legislation might be part of the plan: Dim lights in offices and stores might hide that in socialist societies, store shelves are notoriously empty.
Then again, this might be part of a master plan: By bogging down the remaining private business with politically correct red tape, Obama might be able to dramatically reduce the United States carbon footprint.
After all, bankrupt businesses don’t use much energy.
*** Regarding the Madoffed multitudes, TFN eNews reader Aubrey F. wrote us today: “People should know better than to turn their funds over to anyone without a thorough investigation. When you give funds to someone without limiting his capacity to use them, you’re in effect making an unsecured loan and become a general creditor.
“The boards of director of the charities that were Madoffed should be severely criticized for their negligence. I was on a conference call with the president of one organization. They did not know how much money they had invested with Madoff, but said that they had lost a very large sum of money. I asked if they had ever received any distributions and they said that they had gotten more than $100,000.
“Being a CPA, I suggested that under the circumstances, much of that money was not income but a return of capital. I suggested that it was poor PR to advertise such a big loss and that they should first establish what their real loss was. They enthusiastically agreed. Guess what? Two weeks later, I received a letter from the charity soliciting funds and crying about the major loss (the one they first told me about) and wanting funds. Bad scene!”
*** TFN eNews reader and HSC Member Shannon Z. put us on the trail of recent activity in a mining stock:
“You might want to take a look at Golden Star Resources Ltd. (AMEX:GSS). I usually shun mining stocks, but they just received a couple of analyst upgrades to buy and I see volume and PPS movement. I think their drive to reduce operating costs is definitely making this an easy 30% or more gainer in the near future. Just a heads up.”
We invite fellow-TFNers to chime in with their opinion on this stock. I’ve posted this on our website, and you can use the Comments field below the article to voice your opinion.
And of course, feel free to send us your own TFN Grapevine hot stock tips any time!
*** “It’s supposed to be a joyous day in Iraq, with American troops exiting the cities they’ve patrolled for so long and the country’s precious oil on the auction block,” writes TFN stock guru Andrew Snyder today.
“Unfortunately, violence remains high and the gap between crude buyers and sellers is much larger than most had predicted. After years of violence and destruction, Iraqis were ready to symbolize their potential by selling their oil. The revenues will help the devastated economy rebound and strengthen its role in Mid-East affairs.
“But this week’s auctions are not going nearly as smoothly as the country would like. First, a nasty sandstorm delays the auction for a day. When the gavel finally drops, bidders are willing to pay far less than sellers are asking. Companies like Exxon Mobil (NYSE:XOM), BP (NYSE:BP) and Total (NYSE:TOT) all would like to get a piece of Iraq’s massive oil reserves. But they want fair compensation for their risk and efforts.
“Even though Iraq is far safer than it was several years ago, few Americans would be eager to head to the country to set up shop. Violence is high and could surge without notice. This ain’t Texas after all…”
Finish his article right here on our web page: Iraq’s oil auction: No parade for the oil markets
Quote of the Day:
“Obama’s immediate and forceful response to events in the Central American nation stood in sharp contrast to his initially restrained reaction to the disputed presidential election in Iran. It also puzzled some that he would denounce a leader backed by Chavez while declining for days to declare that the election results in Iran were fraudulent.”
– Jim Meyers, Newsmax
TFN Reader Grapevine:
TFN reader Charles D. alerted us to a developing situation:
“Please put Quepasa Corporation (OTC:QPSA) your Buy or at least your Watch list. This company is about to run to $5.00 plus. (It currently trades at $0.69.)
“Billionaire investors are about to support the stock and they just landed the ‘Battle of the Americas’ which for Latin America is the launch of an American Idol type of program. QPSA is being used for the handling of all the transactions. Also, QPSA is the largest Latin networking site similar to Facebook. None of this is yet recognized in the stock but it will be soon.”
Recommended Reading
“Iraq’s oil auction: No parade for the oil markets“
“University of Phoenix gets good marks“
“Gold and Resources: 3 Stealth Stocks that could turn $2,500 into $25,000″
Today’s Top 3 Financial News Headlines
Newsmax – Obama’s Handling of Honduras Coup Cripples U.S. Influence in Latin America “This was no coup, but a desperate act to protect the nation’s constitution and its institutions from presidential excess and a descent into misrule Chavez-style. Letting a friendly country fall into the Chavez camp does no one any good. The new government of Honduras wants to preserve peace and the constitutional order. Warts and all, it deserves the chance.”
MoneyNews — Roubini: Recession For Another Nine Months “When recovery finally occurs, it will be ‘anemic and subpar,’ with U.S. growth registering 1 percent to 1.5 percent over the next couple years thanks to ‘fundamental imbalances in the housing sector, financial system, corporate sector and now the rising budget deficit.’”
Bloomberg.com — U.S. Stocks Fall on Consumer Confidence Slump, Delinquency Data “U.S. stocks fell, limiting the biggest quarterly advance for the Standard & Poor’s 500 Index since 1998, after consumer confidence unexpectedly slid and delinquencies on the least risky mortgages more than doubled.”
Cordially yours,
J. Christoph Amberger
Executive Publisher, TodaysFinancialNews.com
Next Article: Oshkosh drives into Afghanistan with big gains
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