Lehman's latest report - Is it a Bubble? - says commodity index funds have exploded from $70bn (£36bn) to $235bn since early 2006. This includes $90bn of fresh money. Energy takes the lion's share. Every $100m flow of investment money into oil lifts crude prices by 1.6pc, it said.
"We see many of the ingredients for a classic asset bubble," said Edward Morse, Lehman's oil expert.
Friday, May 23, 2008
Tuesday, May 20, 2008
A prominent local Barack Obama backer bashed John McCain's military record Monday, calling the Republican presidential candidate a "self-promoter."
In a nearly-half hour speech, Democratic congressional candidate Bill Gillespie praised Obama, his party's leading White House hopeful..."
Admirals' sons," Gillespie said, unopposed for the Democratic nomination in the 1st Congressional District held by Republican Rep. Jack Kingston, "were treated like royalty. They were privileged people. They were given a silver spoon. Their careers were prepared for them."
Wednesday, May 07, 2008
The other side can label and name-call all they want, but I trust the American people to recognize that it is not surrender to end the war in Iraq so that we can rebuild our military and go after Al Qaida’s leaders.
I trust the American people to understand that it is not weakness, but wisdom to talk not just to our friends, but to our enemies, like Roosevelt did, and Kennedy did, and Truman did.
Thursday, May 01, 2008
Obama's Philadelphia oration was an exercise in contextualization. In one particularly egregious play on white guilt, Obama had the audacity to suggest that whites should be ashamed that they were ever surprised by Wright's remarks: "The fact that so many people are surprised to hear that anger in some of Reverend Wright's sermons simply reminds us of the old truism that the most segregated hour of American life occurs on Sunday morning."
That was then. On Tuesday, Obama declared that he himself was surprised at Wright's outrages. But hadn't Obama told us that surprise about Wright is a result of white ignorance of black churches brought on by America's history of segregated services? How then to explain Obama's own presumed ignorance? Surely he too was not sitting in those segregated white churches on those fateful Sundays when he conveniently missed all of Wright's racist rants.
Michelle: The fundamental changes that he has made in just 15 months, in the way people see themselves, in the way people see their futures, the way young people are looking at their possiblilities, they way people are talking about politics, even though we slip sometimes. We don't get pulled down into the hold ways of playing the political game. Changes have happened and it makes every challenge, every frustration worth it.
What the hell is she talking about? Barack hasn't changed a thing, much less these earthshattering events that she is claiming.