BHP

[WR]

Overnight rally as US bails out citi. Some traders think that recession will not happen as deep...hehhee.. are these guys smoking some weed. Auto makers still in trouble...BIL still cutting production etc...etc...cut..cut...cut... US housing not fallen this much since 1968...but some still believe that the contraction of the enconomies is not coming....I guess we will have to wait for second half reporting just to see how deep this is.

[#2]

the pumping in of all these billions is only postponing the INEVITABLE, they should have allowed the banks to fail, the car makers go down and allow those that have not been naughty to take over and the economy will be stronger coming out of it, now they have safed the sick animal and shot the lion that cleans up, the next down leg will be worse and make the deep much longer than what we anticipated, the usd is overbought, the us government is printing money as if they are getting ready for a new year cash discount store sale, the new lion is waiting this time out the sight of the us big gun

[#3]

BIL rallied quite a bit overnight.. Short BIL from 142?

[#4]

Mercedes Benz SA says that the big three US carmakers closing is not a good idea: see http://www.engineeringnews.co.za/article/us-carmakers-failure-could-have-phenomenal-impact-on-global... However, here is some food for thought from http://www.bakersfield.com/102/story/617257.html: What happened to laissez faire and the free enterprise system? The labor unions and the owners of the U.S. auto industry got themselves into this mess, so let them get themselves out of it. Consider: 10 percent of the price of a new car is accounted for by labor costs. A U.S. auto assembly line worker is paid an hourly wage and benefit package of about $65. A university professor with a Ph.D. is paid about $44 per hour. An auto assembly line worker in Mexico or China is paid about $2 to $6 per hour in U.S. dollars. Foreign cars are at least as reliable as American cars. Do the math! Why would someone pay at least an extra $2,500 on a $30,000 American car which isn't any better than a foreign one? Charging these prices for these products for these reasons sounds like a formula for bankruptcy to me, so why shouldn't they go bankrupt? President-elect Barack Obama wants to "spread the wealth" to everyone and it sounds like the entire U.S. Congress wants to spread the indebtedness to everyone. Why should the U.S. taxpayers pay for the consequences of financial mismanagement in the U.S. auto industry? What will motivate them to change if they don't suffer from the consequences of their bad decisions? Chrysler was bailed out once before. Apparently they haven't learned and now Congress is considering bailing them out again. If I wanted to live in a country that finances the auto industry, I would move to China or some socialistic country. - Lowell Lueck, marriage and family counselor