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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Gold Beach who wrote (106477)	8/4/2008 1:46:02 PM
From: Keith J	Read Replies (1) \| Respond to of 206325

Many misleading headlines today: Rising prices beat down consumer spending in June: Actually, IMHO spending was quite healthy - up 0.6%. Sure inflation adjustment put the number negative - but this is off of a May level that included most of the stimulus spending. And again, due to the stimulus payments, after tax incomes were down 1.9% in June so any positive number in spending isn't bad considering the economy isn't that strong. Oil prices drop about $4 after storm threat eases: Maybe, but considering oil prices never rose due to the storm threat and was never likely to cause great damage, I doubt it. I attribute more to Obama's SPR exchange remarks. Iranian posturing didn't even move the market up today. KJ