- China may impose temporary price controls on “important daily necessities” to counter the fastest inflation in two years, the State Council said today on its website.
- (Price controls have never increased supply! Today the price of corn on the CBOT is $5.25 and $8.10 on the Dalian)
- (Arlan Suderman) There is trade speculation that China may be manipulating the markets to buy large quantities of corn and soybeans before the end of the year.
- The UN warns the world must be vigilant against further supply shocks and prepare for even higher food prices next year if cereal production fails to increase significantly.
- US consumer price inflation rose just 0.2 % in October.
- The DOE said:
- Crude-oil inventories fell 7.3 million barrels
- Gasoline inventories fell 2.7 million barrels
- Distillates inventories fell 1.1 million barrels
- Demand for gold hit 922 metric tons in Q3, a 12% increase YoY, a trade group said.
- Fed Chairman Ben Bernanke told lawmakers the Fed's $600 billion economic aid program could create 700,000 jobs over two years.
- Buffett has written a 'Thank You' note to 'Uncle Sam' for preventing a catastrophic economic meltdown in September of 2008
- [AP] - The nation's largest banks must undergo new stress tests to show they can weather another recession, and the Fed said those that pass them can boost dividends paid to investors.
- U.S. New home starts fell 11.7% in October to an annualized rate of 519,000 -- the lowest rate in 18 months.
No comments:
Post a Comment