Credit conditions continue to tighten and in the real economy boom times are quickly turning to bust.  Economists expect to see a continuing series of dismal economic reports on GDP, employment, corporate profits, etc.  Behind the statistics will be more disappointing events, a veritable shoe  store of shoes getting ready to drop.  Here’s a list of coming attractions offered as perspective on what may be in store.

The Car Shoe

On the front burner, obviously, is a required “resolution” to the U.S. auto industry’s decades of mismanagement.  The money’s running out and …

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Hugo Chavez would like nothing more than to sell all his oil to some customer other than the U.S.  That way he both gets his revenue and hurts his energy.  He seems to have found his customer - China.  As the report below describes, Venezuela, which has ramped up its China oil sales to 250 kb/d so far, is planning on 500 kb/d in 2009 and 1 mb/d by 2012.  Since the Venezuela currently is the fourth largest supplier to the U.S. at 1.1 mb/d and since exports …

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Russia’s adventure in Georgia followed by Bush’s advancing the timetable for putting “defensive” weapons in Poland, followed by…  Well, this could keep on going for a while.   Nobody has any appetite for a hot war but it looks like a cold one is here.  Bush is like a jilted lover - he thought he saw Putin’s soul but the calm glint in Vlady’s eyes was only naked ambition slaked by his knowledge that Russia is gaining the advantage every day according to their bank deposit records.  I think Putin …

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The following report from Asia Times Online points to another example of strategic trade by China.  “Looking to fill the vacuum created when the Russians returned home from the five former Soviet Central Asian republics of Kazakhstan, Kyrgyzstan, Uzbekistan, Tajikistan and Turkmenistan, and the roubles dried up, China is now making moves to become the new Central Asian superpower.”

China’s interest in these poor Muslim countries is primarily their fossil fuel resources.  Once again we see China wrapping up a supply of oil before it can hit the …

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