Americans might rejoice as fuel prices tumble. But it means catastrophe for Russia. Its stock market is already down 80% this year, and Andrew Snyder says the country faces more economic woes in 2009. That’s why he recommends shorting the Market Vectors Russian ETF (NYSE:RSX).

Industrialized countries are dropping like flies into recession. So far, emerging markets have avoided the economic meltdown. But that is changing, says David Newman. He says investors should not be tempted by the huge bond yields on offer in countries like Argentina. In today’s climate, knowing you will get your money back is much more valuable.

Ecuador, Ghana and Tunisia are the only equity markets up in 2008. But Marc Lichtenfeld says there are still profit opportunities closer to home. Many undervalued US stocks are due a rebound in 2009. Marc picks seven proven survivors that are among the biggest and best in their fields. He also selects two small caps that are well place to lead a market recovery next year.

China’s President Hu Jintao just concluded on a victorious trip Havana on Tuesday - expanding a trade pact that could divert commodities from open spot markets.

Riddle me this: When is it good news when an analyst slashes his price target for a stock by 55%? Answer: When that “reduced” target price still represents a 59% gain. That’s precisely the scenario facing Companhia Vale do Rio Doce (ADR: RIO), the world’s biggest iron-ore producer.

As commodity prices continue to plunge, investors watch their favorite charts, tables and graphs in awe and dread.

Tight credit, shrinking consumer buying and the falling real estate prices have commodity investors wondering, when will it turn around?

To find an answer to that question, we look at another indicator to help determine the future of commodity prices. It’s not one most investors think of in trying to predict which way commodities will go.

But if you look at its current moves, you’ll probably draw the same conclusion that we did: commodities will be ugly for a while.

The indicator I’m referring to is Fitch Ratings - the company that provides so-called credit opinions on companies, markets.

Over the past week or so, Fitch Ratings…

By grabbing $26 billion in private pension money last month, Argentina may have put itself on track for its second debt default in a decade – ironically, the very situation that country’s government had hoped its bit of leisure-fund larceny had hoped to avoid.

G20 largely a non-event…  Pound moves up…  Brazil falls on sell off of emerging markets…  Japan enters recession… And Now… Today’s Pfennig!

Plunging crude oil prices and currency weakness are creating a crisis in Russia that makes the US look like a boomtown. Financial turmoil is mounting pressure on the Kremlin, says Andrew Snyder. And the resulting desperation could lead to some interesting profit plays.

The World Bank said yesterday that it plans to triple its lending to developing nations this year in an effort to prevent a “human crisis” that has been brought about by economic turmoil.