SubscribeTDI Episode 70: The Auto Industry at a Crossroads
August 17, 2008
Guest: Professor Michael Greenberger follows up with the discussion on the Enron Loophole and how there is relief in sight. We last had him on when we were nearing a $145 barrel price for oil. Since then, we have noticed a significant drop…Why? He tells us and provides insight into the hearing oil problem we are about to see.
Since July 2001, Michael Greenberger has been a professor at the University of Maryland School of Law, where he teaches a course entitled “Futures, Options and Derivatives.”
Professor Greenberger was a partner for more than 20 years in the Washington, D.C. law firm of Shea & Gardner, where he served as lead litigation counsel before courts of law nationwide, including the United States Supreme Court.
In 1997, Professor Greenberger left private practice to become the Director of the Division of Trading and Markets at the Commodity Futures Trading Commission (CFTC).
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Here is that important list again that will give you insight into this oil sham…
- The London Loophole
- The Enron Loophole
- MSN Article - House Passes Bill to Reverse oil price increases
- Video: Greenberger Testifies
Andrew then provides a look into some possible starting points on how to fix the domestic auto industry. There are thousands of people that are relying on a change in order to ensure their pension and health benefits. While this may not be able solve all of the issues, maybe it is a opening discussion.
Stocks discussed in this episode: General Motors (GM) Ford (F) Proshares Ultra Oil & Gas (DUG) American Axle (AXL) Autonation (AN)
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TDI Episode 69: The Money Show to Go
August 11, 2008
Coming to you from The Money Show in San Francisco. Listen in to the highlights from the Strategy Lab panel. Listen to part of a lecture by Jon Markman of MSN Money and then Andrew sits down with Vad Yazvinski the winner of Strategy Lab 17.
In this episode we have highlights from the Strategy Lab Panel with me and:
- Vad Yazvinski – Skeptical Capitalist
- Jim Van Meerten - Strategy Lab
- Ken Kam - Marketocracy
- Howard Gold – The Money Show
- John Reese – Validea.com
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During this Money Show show, the big interest seemed to be in Biotech. Not surprisingly, that was one of the subtitles of the conference. But, it was interesting how passionate the bio-techies Read more
Media: Marxist, Communists like what Horowitz says…
August 9, 2008
So, minding my own business, I am interviewed for my thoughts on the Enron Loophole and Oil. I did some research on the publication and found that they are a group that says they are a “publication of the Communist Party, USA.” Hmmm. Good thing it is not the 50’s.
Below is the summary of what they are trying to achieve and an excerpt from the article.
You know… I wonder why the reporter never told me about his publication. Just goes to show you that a name is not always fully descriptive.
“Political Affairs is an online magazine of ideology, politics, and culture. Our mission is to go beyond simply giving an account of events to providing analysis and investigating what is new and changing in our world – from a working-class point of view.
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MediaMash: Andrew on Oil with John Gambling - 710WOR
August 4, 2008
Last week I spent some time discussing the Enron Loophole with a few people/media around this fine country.
Here is my “spirited” discussion with New York’s 710AM - WOR Radio - The John Gambling Show. ( Too much Red Bull at 7:30am?)
Still Diggin’ DUG
July 13, 2008
For the past several weeks, we have been adding to our position of UltraShort Oil & Gas ProShares (DUG) as we believe that the underling fundamentals for the Oil Sector are faltering. The fact that the price for oil is rising and DUG is rising continues to show that the thesis is solid. Here are some interesting points from economy.com:
* Rising energy prices have cut almost half a percentage point from real U.S. GDP growth in each of the past five years.
* The recent surge in oil prices is being powered by increased financial demand and not tighter underlying demand and supply fundamentals.
* Oil prices are expected to soon peak and to decline measurably by this time next year.
* Lower prices will allow the Federal Reserve to hold policy unchanged for the remainder of this year, and will help the economy find its footing by this time next year.
The fact remains that our general oil dependency will continue to prove difficult on our economy. More so, the fact that we cannot keep our financial house in order will continue to show the world that ours in not an economy worthy of investment. Once more it is easy to see why our dollar is so weak.
Now, add that to the crude reality that oil and the dollar are tied together and it becomes obvious that unless we can figure out a way to cause the dollar to strengthen, there will be higher oil prices to come. No matter, it is becoming clear that oil companies are still tied to the global economy and we are finally seeing the dislocation of oil prices to oil company share prices. Therefore: No longer will they be positively correlated.
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