Conference Call: Why The Stock Markets Keep Falling [12/01/08]
Why the Stock Markets Keep Falling
When you thought it was getting better, the markets plunge again. Down 5%. Down 9%. High volatility and downside risk is the new norm. How can you invest and retire when your stocks gets wiped out? You can't afford to lose another 45% on the S&P 500. What's the average investor to do?
During volatile markets your cash, liquid assets are most important. They are the foundation of your lifestyle. We provide a consistent strategy for you to keep your assets in cash equivalent accounts. These accounts allow you full, uninterrupted access to your money. Meanwhile our asset management teams can manage the value of your account to provide consistent returns. Your money, your accounts. No lock-in period, no redemption period or early exit fees. Millennium Lyon provides a better way to manage your cash and investment accounts. Liquidity, safety and low risk with peace of mind.
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Labels: global recession, market decline, stocks
Peak Oil: High Oil Prices Bring Energy Shortages
Peak Oil Hits the Third World
High Oil Prices Bring Energy ShortagesDouglas Low, the director of the Oil Depletion Analysis Centre in Britain, recently warned of a "crisis coming up" with real shortages of oil, noting that the world used 1.5 mbpd more crude than it produced in June. "It's not a very happy message," he says. "A lot of people want to slip it under the carpet."
Indeed. Like all the cheap oil cheerleaders who used this occasion to predict that oil was going back to $40 or (snort) $20.
I would like to refer those Pollyannas to a little-noticed opinion essay published two days ago by the CEO of Royal Dutch Shell, one of the world's largest oil companies. Jeroen van der Veer laid out his "Three Hard Truths About the World's Energy Crisis":
- The first hard truth is that demand is accelerating.
- The second hard truth is that the growth rate of supplies of "easy oil," conventional oil and natural gas that are relatively easy to extract, will struggle to keep up with demand.
- The third hard truth is that increased use of coal will cause higher carbon dioxide emissions possibly to levels we deem unacceptable.
I'm not sure what motivated Mr. van der Veer to make such a bold statement. Since his prime directive is to maximize shareholder value, he must feel that it's time to take a defensive position and get out in front of the peak oil story, now that the recent reports from the
IEA and the
National Petroleum Council have confirmed the basic message that supply is struggling to keep up with demand.
Read the full article.Labels: global recession, oil shortages, peak oil, water shortage
