Intrade Future Markets Predict 2008 Elections
Intrade is a website that allows you to bet on the outcomes on a variety of international events, from political elections and finance, to “Will Elliot Spitzer be Indicted on Felony Charges on or before June 30th”.
The traders on the website are currently betting with 89% odds that Barack Obama will be the Democratic nominee. They’re also placing a 37.9% chance that John McCain will win the presidential election in November. And, the chances of the US going into a recession in 2008 have fallen to 28% from a high of 76% back in early April.
London Times Attacks Peak Oil ‘Myth’
It’s a peak oil ‘myth’ that we’re running out of oil, according to the London Times.
The article, titled “It’s a myth that the world’s oil is running out,” is written by Irwin Stelzer, a director of economic policy studies at US think tank the Hudson Institute, and raises interesting questions about peak oil theory.
Stelzer insists that although what he calls the peak oil myth is pervasive, it’s ultimately untrue.
One Oil Prediction That’s Right On Track as Oil Passes $126
With the price of oil surging above $126, one oil price prediction, which puts oil past $187 a barrel, is right on track.
Last December, Money Morning’s Keith Fitz-Gerald publicly made the oil price prediction that oil would reach $187 a barrel within three years. In mid-March, he reiterated this price prediction.
Keith says: “We are burning through supplies at a rate that’s four times to five times faster than we’re discovering new reserves.
The 10 Hottest Global Profit Opportunities to Follow for the Next 18 Months
For the first time in modern history, the US economy finds itself back with the masses, flying coach instead of first class. These shocking facts say it all:
- From 2005 to 2010 alone, worldwide wealth will soar from $118 trillion to more than $200 trillion — with the newly capitalist markets of Asia and Europe accounting for the biggest share.
- Over the next 25 years, America’s share of the worldwide economic pie will slip from 28% to 24%…
Americans Still Asking ‘Where Is My Stimulus Check?’
“Where is my stimulus check?” continues to be one of the most searched for phrases on Google, despite US Treasury Secretary Hank Paulson’s recent assurances that the government will have send out almost $50 worth of economic stimulus checks by the end of the month.
This from Forbes.com:
The first $7 bln of economic stimulus payments went out by electronic deposit last week to 7.7 mln people, Treasury Secretary Henry Paulson said on Thursday. The average payment was $920.
Almost $50 bln will have been sent out by the end of this month and another $50 bln by early July to a total of about 130 mln households, he said after touring a plant printing stimulus checks in Kansas City.
For American tax payers…
About this Site
ContrarianProfits.com is a financial news and opinion website with a twist. As investment guru Rick Rule puts it, “You are either a contrarian or a victim.” In the financial world, most people are losers because they just don’t know what game they’re playing. They think they can just get “into the market” along with everyone else, do what everyone else does, and they will make money. Not likely. By the time you’ve paid commissions, spreads, fees, taxes – and suffered the consequences of inflation – you’ll be very lucky just to have as much money as you started with.