Depression Watch (Wednesday Nov 11, 2008)

Dow Close (Wed) 8,282.66 411.30 (-)
Dow Close (Tues) 8,693.96 176.58 (-)

As the economy sinks further, the The Democrat lead government's answer is to start nationalizing corporations. The free market is dead! The USA is dead, welcome to the USSA! This will echo globally!

Definition: Slave - A person legally bonded to another.

This is the current state of the average American citizen, until the $10 Trillion plus debt is paid. So American's say hello to Masa Obama! The first African American slave owner.

The economic obstacles mean the next U.S. president may have a tougher time getting through a much-anticipated climate change bill, whose higher costs for utilities would ultimately mean heftier electricity bills for consumers. Failure to pass a bill that would create a system to sell carbon credits would also dry up one key source of funding for Obama's $150 billion in promised alternative-energy investments. --- Obama is more likely to deal some blows to Big Oil -- the sector that helped drive stocks higher over the past four years -- whether through increased taxes or not allowing new drilling. With gasoline back under $2.50 a gallon, there's less political urgency to lower pump prices by expanding the nation's domestic oil supply. - MarketWatch

Drill less, spend more
What's ahead for the energy industry under Barack Obama? Big Oil may lose out while alternative energy producers could see the dollars flow in -- an investment the next administration says it hopes will create up to 5 million new jobs.- MarketWatch

Brazil welcoming Big Oil to its party
Oil and gas discoveries could alter international markets
By Jasmina Kelemen
Last update: 12:01 a.m. EST Nov. 13, 2008

Brazil's Petrobras has within the past year announced a stunning string of oil and gas discoveries that could alter international markets and prove a boon for both the national oil company and international operators that are involved in the action. --- And in a rare, heartening bit of news for the world's largest oil companies -- which are struggling to replace production as many nations shut them out of their fields -- Big Oil is welcome to join the party. - MarketWatch

Nationalization - Socialism! Obamaism!

Paulson refocuses rescue plan -- Treasury chief shelves government purchases of troubled mortgage assets, considers placing funds outside banking business.

Purchasing these so-called "toxic" assets was once the cornerstone of the rescue plan for financial markets and was almost the entire focus of Congress when the package was being debated before its enactment. But almost as soon as Treasury received the money, it decided that giving capital to banks in return for preferred stock was a better use of the funds. --- '[Paulson's] been flip-flopping on every plan and it doesn't look like he has a plan.' — Alex Merk, Merk Investments -- MarketWatch

The falls came as the US signalled a shift in policy on its $700bn bail-out. --- US Treasury Secretary Henry Paulson said he would focus on taking stakes in banks rather than buying up the banks' toxic mortgage debts. -- BBC

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