US secretary of state Conde Rice says Russia’s international reputation is in “tatters.”

But Andy Carpenter in Investor’s Daily Edge says the reality is Russia is emboldened by the simple fact that the US is no longer the world’s sole economic engine.

There is now a huge amount of money being poured into emerging markets infrastructure projects. The lion’s share of this cash will go to Russia, China and the Middle East. Smart investors now must think globally, says Andy…

It’s unfortunate that Sacvan Bercovitch already used American Jeremiad as a book title. Because, had you collected all that’s been written during the past six months about oil and mortgages and placed it into a single volume, its only appropriate title would be American Jeremiad, A Dark Prophecy. According to the media, dear reader, the end is very near.

Andy Carpenter in Investor’s Daily Edge says China now consumers 44 pounds of cooking oil per person every year. And this trend is growing at a rate of 10 percent a year.

This makes the Chinese the biggest consumers of cooking oil in the world. It also opens up a great way to profit.

China imports about 350 million tons of cooking oil each year. All that oil can then be recycled to create biofuels - by companies such as Gushan Environmental Energy (NYSE:GU). More from Andy…

America’s debts will never be paid off. They are too large and we’ve long since passed the point of no return. The Fed’s corrupt monetary system actually depends upon expanding debt. Do you ever wonder exactly who the primary beneficiaries of this debt are?