CARACAS - Venezuelan President Hugo Chavez threatened on Saturday to imprison his main political rival, intensifying a campaign against a man he calls a crime boss just a month before he faces tough regional elections.
Opposition leader Manuel Rosales, who lost to Chavez in the 2006 presidential vote, is governor of the oil producing state of Zulia and is running for mayor of its capital Maracaibo.
"I am determined to put Manuel Rosales behind bars. A swine like that has to be in prison," Chavez said.
Chavez railed against Rosales at a gathering of businessmen in Zulia, urging the audience to vote against his rival for allegedly plotting to assassinate him, running crime gangs and illegally acquiring cattle ranches.
Chavez provided no specific evidence for the charges against the main leader of a fragmented opposition who has solid support in the oil-producing west of the OPEC nation.
Human rights groups say Chavez has increasingly exerted control over branches of power such as the judiciary and become intolerant of critics in almost a decade in power.
The former soldier typically takes to the offensive to stem a rise in support for potential rivals.
Chavez has been campaigning vigorously for his candidates in gubernatorial and mayoral races in the November 23 election but may lose some key posts as Venezuelans worry about crime, inflation and poor public services, pollsters say.
Chavez often makes dramatic threats in speeches without immediately carrying them out. Still, he does follow through on enough of them over time for his threats to concern the people he targets.
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fidel castro, hugo chavez, peron, pinochet, have the same politic, (Authoritarianism) dont let you lie.
lunes, 27 de octubre de 2008
Oil falls to $63
Oil prices fell to 17-month lows at $63 a barrel Monday in Asia as investors weighed Friday's OPEC output cut against growing evidence of a severe global economic slowdown that would undermine crude demand.
Light, sweet crude for December delivery fell 32 cents to $63.83 a barrel in electronic trading on the New York Mercantile Exchange by midday in Singapore.
Investors brushed off a 1.5 million barrel-a-day cut announced by the Organization of Petroleum Exporting Countries on Friday, focusing instead on falling crude demand as economies across the globe reel from the impact of a credit crisis.
On Friday, oil fell $3.69 to settle at $64.15. Prices have plunged 57 percent from a record $147.27 on July 11.
"The mood is fairly negative reflecting worry about the international economic outlook," said David Moore, a commodity strategist at Commonwealth Bank of Australia in Sydney. "If there is further weak economic data in the U.S. or Europe, prices could come under more downward pressure."
Iran's OPEC governor Mohammad Ali Khatibi said Sunday a reduction in production "will be considered" at the group's next meeting in Algiers in December—a meeting that might even be held early if necessary.
"I thought the OPEC cut was a fairly decisive act, but concerns of recession in the major economies remain dominant," Moore said. "OPEC's cut does take a step toward tightening the market."
Investors have been paying close attention to signs that a slowing economy and higher gasoline prices earlier this year have hurt crude demand in the U.S., the world's largest oil consumer.
The U.S. Department of Transportation said Friday that Americans drove 5.6 percent less, or 15 billion fewer miles, in August compared with same month a year ago—the biggest single monthly decline since the data was first collected regularly in 1942.
Oil investors have also been eyeing stock markets to gauge sentiment on global economic health. Most Asian stock indexes fell Monday, led by Hong Kong, South Korea and Australia. Japanese shares rebounded slightly after plummeting last week.
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The Dow Jones industrial average fell 3.6 percent Friday.
"If we're looking a severe economic downturn, it's hard to say what the bottom of any commodity price will be," Moore said.
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In other Nymex trading, heating oil futures rose 0.13 cent to $1.95 a gallon, while natural gas for November delivery fell 19.8 cents to $6.04 per 1,000 cubic feet.
In London, November Brent crude was down 60 cents to $61.45 a barrel on the ICE Futures exchange.
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Hugo chavez is crying for this price, maybe hi will come to united states to live, hahaha.
Light, sweet crude for December delivery fell 32 cents to $63.83 a barrel in electronic trading on the New York Mercantile Exchange by midday in Singapore.
Investors brushed off a 1.5 million barrel-a-day cut announced by the Organization of Petroleum Exporting Countries on Friday, focusing instead on falling crude demand as economies across the globe reel from the impact of a credit crisis.
On Friday, oil fell $3.69 to settle at $64.15. Prices have plunged 57 percent from a record $147.27 on July 11.
"The mood is fairly negative reflecting worry about the international economic outlook," said David Moore, a commodity strategist at Commonwealth Bank of Australia in Sydney. "If there is further weak economic data in the U.S. or Europe, prices could come under more downward pressure."
Iran's OPEC governor Mohammad Ali Khatibi said Sunday a reduction in production "will be considered" at the group's next meeting in Algiers in December—a meeting that might even be held early if necessary.
"I thought the OPEC cut was a fairly decisive act, but concerns of recession in the major economies remain dominant," Moore said. "OPEC's cut does take a step toward tightening the market."
Investors have been paying close attention to signs that a slowing economy and higher gasoline prices earlier this year have hurt crude demand in the U.S., the world's largest oil consumer.
The U.S. Department of Transportation said Friday that Americans drove 5.6 percent less, or 15 billion fewer miles, in August compared with same month a year ago—the biggest single monthly decline since the data was first collected regularly in 1942.
Oil investors have also been eyeing stock markets to gauge sentiment on global economic health. Most Asian stock indexes fell Monday, led by Hong Kong, South Korea and Australia. Japanese shares rebounded slightly after plummeting last week.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
The Dow Jones industrial average fell 3.6 percent Friday.
"If we're looking a severe economic downturn, it's hard to say what the bottom of any commodity price will be," Moore said.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
In other Nymex trading, heating oil futures rose 0.13 cent to $1.95 a gallon, while natural gas for November delivery fell 19.8 cents to $6.04 per 1,000 cubic feet.
In London, November Brent crude was down 60 cents to $61.45 a barrel on the ICE Futures exchange.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Hugo chavez is crying for this price, maybe hi will come to united states to live, hahaha.
Global Stocks Decline on Economy Concerns; Treasuries Rally
Oct. 27 (Bloomberg) -- Stocks tumbled, extending the MSCI World Index's biggest monthly drop on record, as concern grew that government efforts to stabilize financial markets won't avert a global recession. Treasuries rose as investors sought the safety of government bonds.
U.S. shares slid, deepening the market's worst monthly slump in 70 years. Europe's Dow Jones Stoxx 600 Index declined 3 percent as German business confidence decreased more than forecast this month. Hong Kong's Hang Seng Index sank as much as 15 percent, the most since the 1989 Tiananmen Square crackdown, after money-market rates rose.
``We've gone from financial worries to economic worries,'' said Roland Lescure, who manages the equivalent of $128 billion as chief investment officer of Groupama Asset Management in Paris. ``We're looking for direction for the economy. The problem is stock market declines lead to more declines. It's linked to forced selling.''
The Standard & Poor's 500 Index dropped 0.9 percent to 868.8 at 9:30 a.m. in New York. The MSCI World Index lost 3.2 percent. The MSCI Asia Pacific Index sank 6.3 percent, extending a three-day, 13 percent retreat.
UBS AG, Switzerland's largest bank, and Deutsche Bank AG, Germany's biggest, retreated more than 6 percent. Daimler AG slipped 9.7 percent after Frankfurter Allgemeine Sonntagszeitung reported the carmaker may halt production for five weeks.
Money Markets
Asian money-market rates rose amid speculation the global credit crisis is worsening even after governments and central banks pledged to spend trillions of dollars worldwide to revive lending.
The London interbank offered rate, or Libor, that banks charge each other for three-month loans in dollars fell 1 basis point to 3.51 percent, according to the British Bankers' Association. The overnight rate also declined 1 basis point, to 1.27 percent, BBA data showed today.
Caterpillar Inc. and Intel Corp., which generate more than 60 percent of sales outside the U.S., sank. Mizuho Financial Group Inc. and Sumitomo Mitsui Financial Group Inc. slid in Asia.
Emerging-market stocks tumbled for a fifth day as the International Monetary Fund agreed to lend Ukraine $16.5 billion. Hungary's BUX Index lost 10 percent after the IMF said it will give the country ``a substantial financing package.'' Belarus last week asked the IMF for at least $2 billion after its banks lost access to financing.
Customers rushed to withdraw money from Gulf Bank KSC, Kuwait's second-biggest bank, after clients defaulted on currency contracts and the central bank was forced to guarantee deposits.
`Very Negative'
``We are very negative on the emerging-market asset class,'' said Florence Barjou, a Paris-based manager at Societe Generale SA's Lyxor Asset Management SA, which oversees $100 billion. ``Now people are really realizing that the slowdown is going to be very global and that it will have an effect on current-account surpluses.''
Iceland's Kaupthing Bank hf today was the first European borrower to default in Japan's samurai bond market after the state-controlled bank missed its last chance to make a 450 million yen ($4.8 million) coupon payment.
The yield on the 10-year Treasury note dropped 4 basis points to 3.63 percent, according to BGCantor Market Data. U.S. government securities extended last week's rally on concern that the slowing global economy will reduce corporate 8profits, leading traders to raise bets for interest-rate cuts.
The yen climbed to 92.80 per dollar, near a 13-year high, as the Group of Seven industrialized nations' concern over the currency's ``excessive volatility'' failed to keep investors from selling higher-yielding assets. Japan's Prime Minister Taro Aso said he'd draft measures to help counter the financial crisis.
Valuations
The S&P 500 has plunged 26 percent in October, headed toward the steepest monthly loss since 1938. The MSCI World is down 29 percent and a close at this level would mean the biggest monthly decline since records began in 1970.
The MSCI World is trading at 10.6 times earnings of the companies in the index, near its cheapest since at least 1995 when Bloomberg started following the data. The MSCI Emerging Markets Index is valued at 6.9 times earnings. The S&P 500 trades at 18.9 times profit.
The Stoxx 600 is down 25 percent in October and is valued at 8 times earnings. The benchmark index for Europe lost 24 in October 1987.
More than $12 trillion has been erased from the market value of equities so far this month, accounting for about one- third of the total value wiped off stocks this year, as $680 billion of writedowns and losses by banks triggered a freeze in credit markets.
UBS lost 6.1 percent to 14.69 francs, and Deutsche Bank sank 15 percent to 25.59 euros.
Postbank, RBS
Deutsche Postbank AG slid 23 percent to 14.42 euros. Germany's biggest consumer bank by clients reported a third- quarter loss related to the collapse of Lehman Brothers Holdings Inc. and writedowns from the financial crisis.
Royal Bank of Scotland Group Plc slumped 2.3 percent to 59.4 pence. The company may need to write down the value of assets by between 4 billion pounds ($6.3 billion) and 5 billion pounds in the second half of the year, the Financial Times reported, citing analysts it didn't identify.
The bank doesn't comment on speculation, said a spokesman who declined to be identified by name when contacted by Bloomberg News.
Swedbank AB tumbled 10 percent to 53.50 kronor. The largest bank in the Baltics said it will raise 12.4 billion kronor ($1.6 billion) in a rights offering. The operation will lift its core Tier 1 ratio to 9.2 percent, the bank said.
Daimler
Daimler fell 9.7 percent to 20.24 euros. The world's second-largest maker of luxury cars will halt production for five weeks as demand slows, Frankfurter Allgemeine Sonntagszeitung said. Daimler spokesman Florian Martens wasn't immediately available for a statement.
German business confidence declined to the lowest level in more than five years in October as the deepening financial crisis dimmed the outlook for economic growth. The Munich-based Ifo Institute said its business climate index fell to 90.2, compared with 91 forecast in a Bloomberg survey of economists.
``The economic downturn is of an amplitude that was underestimated,'' said Christophe Donay, chief strategist at Pictet & Cie. in Geneva. ``The economy will weigh on companies' sales.''
The Commerce Department will probably report on Oct. 30 that the U.S. economy shrank last quarter for the second time in a year as consumers and companies pulled back. A report today may show purchases of new homes fell last month to a 17-year low, according to economist in a Bloomberg survey.
Caterpillar, Intel
Caterpillar, the world's largest maker of bulldozers and excavators, declined 2.2 percent to $32.56. Intel, the biggest chipmaker, retreated 2.5 percent to $13.93.
Mizuho Financial lost 15 percent to 230,000 yen. Sumitomo Mitsui, Japan's third-largest bank, slid 11 percent to 385,000 yen.
Deutsche Post AG plunged 16 percent to 8.08 euros. Europe's biggest mail carrier cut its forecast for 2008 profit by 17 percent because of the slowing global economy.
Volkswagen AG climbed 80 percent to 379.59 euros. Porsche SE plans to raise its holding in the company to 75 percent next year.
>>>>>>>>>>>>>>>>>>>>
¿¿¿ is this the end of capitalism ??? the system is going down, so we need to make several changues
U.S. shares slid, deepening the market's worst monthly slump in 70 years. Europe's Dow Jones Stoxx 600 Index declined 3 percent as German business confidence decreased more than forecast this month. Hong Kong's Hang Seng Index sank as much as 15 percent, the most since the 1989 Tiananmen Square crackdown, after money-market rates rose.
``We've gone from financial worries to economic worries,'' said Roland Lescure, who manages the equivalent of $128 billion as chief investment officer of Groupama Asset Management in Paris. ``We're looking for direction for the economy. The problem is stock market declines lead to more declines. It's linked to forced selling.''
The Standard & Poor's 500 Index dropped 0.9 percent to 868.8 at 9:30 a.m. in New York. The MSCI World Index lost 3.2 percent. The MSCI Asia Pacific Index sank 6.3 percent, extending a three-day, 13 percent retreat.
UBS AG, Switzerland's largest bank, and Deutsche Bank AG, Germany's biggest, retreated more than 6 percent. Daimler AG slipped 9.7 percent after Frankfurter Allgemeine Sonntagszeitung reported the carmaker may halt production for five weeks.
Money Markets
Asian money-market rates rose amid speculation the global credit crisis is worsening even after governments and central banks pledged to spend trillions of dollars worldwide to revive lending.
The London interbank offered rate, or Libor, that banks charge each other for three-month loans in dollars fell 1 basis point to 3.51 percent, according to the British Bankers' Association. The overnight rate also declined 1 basis point, to 1.27 percent, BBA data showed today.
Caterpillar Inc. and Intel Corp., which generate more than 60 percent of sales outside the U.S., sank. Mizuho Financial Group Inc. and Sumitomo Mitsui Financial Group Inc. slid in Asia.
Emerging-market stocks tumbled for a fifth day as the International Monetary Fund agreed to lend Ukraine $16.5 billion. Hungary's BUX Index lost 10 percent after the IMF said it will give the country ``a substantial financing package.'' Belarus last week asked the IMF for at least $2 billion after its banks lost access to financing.
Customers rushed to withdraw money from Gulf Bank KSC, Kuwait's second-biggest bank, after clients defaulted on currency contracts and the central bank was forced to guarantee deposits.
`Very Negative'
``We are very negative on the emerging-market asset class,'' said Florence Barjou, a Paris-based manager at Societe Generale SA's Lyxor Asset Management SA, which oversees $100 billion. ``Now people are really realizing that the slowdown is going to be very global and that it will have an effect on current-account surpluses.''
Iceland's Kaupthing Bank hf today was the first European borrower to default in Japan's samurai bond market after the state-controlled bank missed its last chance to make a 450 million yen ($4.8 million) coupon payment.
The yield on the 10-year Treasury note dropped 4 basis points to 3.63 percent, according to BGCantor Market Data. U.S. government securities extended last week's rally on concern that the slowing global economy will reduce corporate 8profits, leading traders to raise bets for interest-rate cuts.
The yen climbed to 92.80 per dollar, near a 13-year high, as the Group of Seven industrialized nations' concern over the currency's ``excessive volatility'' failed to keep investors from selling higher-yielding assets. Japan's Prime Minister Taro Aso said he'd draft measures to help counter the financial crisis.
Valuations
The S&P 500 has plunged 26 percent in October, headed toward the steepest monthly loss since 1938. The MSCI World is down 29 percent and a close at this level would mean the biggest monthly decline since records began in 1970.
The MSCI World is trading at 10.6 times earnings of the companies in the index, near its cheapest since at least 1995 when Bloomberg started following the data. The MSCI Emerging Markets Index is valued at 6.9 times earnings. The S&P 500 trades at 18.9 times profit.
The Stoxx 600 is down 25 percent in October and is valued at 8 times earnings. The benchmark index for Europe lost 24 in October 1987.
More than $12 trillion has been erased from the market value of equities so far this month, accounting for about one- third of the total value wiped off stocks this year, as $680 billion of writedowns and losses by banks triggered a freeze in credit markets.
UBS lost 6.1 percent to 14.69 francs, and Deutsche Bank sank 15 percent to 25.59 euros.
Postbank, RBS
Deutsche Postbank AG slid 23 percent to 14.42 euros. Germany's biggest consumer bank by clients reported a third- quarter loss related to the collapse of Lehman Brothers Holdings Inc. and writedowns from the financial crisis.
Royal Bank of Scotland Group Plc slumped 2.3 percent to 59.4 pence. The company may need to write down the value of assets by between 4 billion pounds ($6.3 billion) and 5 billion pounds in the second half of the year, the Financial Times reported, citing analysts it didn't identify.
The bank doesn't comment on speculation, said a spokesman who declined to be identified by name when contacted by Bloomberg News.
Swedbank AB tumbled 10 percent to 53.50 kronor. The largest bank in the Baltics said it will raise 12.4 billion kronor ($1.6 billion) in a rights offering. The operation will lift its core Tier 1 ratio to 9.2 percent, the bank said.
Daimler
Daimler fell 9.7 percent to 20.24 euros. The world's second-largest maker of luxury cars will halt production for five weeks as demand slows, Frankfurter Allgemeine Sonntagszeitung said. Daimler spokesman Florian Martens wasn't immediately available for a statement.
German business confidence declined to the lowest level in more than five years in October as the deepening financial crisis dimmed the outlook for economic growth. The Munich-based Ifo Institute said its business climate index fell to 90.2, compared with 91 forecast in a Bloomberg survey of economists.
``The economic downturn is of an amplitude that was underestimated,'' said Christophe Donay, chief strategist at Pictet & Cie. in Geneva. ``The economy will weigh on companies' sales.''
The Commerce Department will probably report on Oct. 30 that the U.S. economy shrank last quarter for the second time in a year as consumers and companies pulled back. A report today may show purchases of new homes fell last month to a 17-year low, according to economist in a Bloomberg survey.
Caterpillar, Intel
Caterpillar, the world's largest maker of bulldozers and excavators, declined 2.2 percent to $32.56. Intel, the biggest chipmaker, retreated 2.5 percent to $13.93.
Mizuho Financial lost 15 percent to 230,000 yen. Sumitomo Mitsui, Japan's third-largest bank, slid 11 percent to 385,000 yen.
Deutsche Post AG plunged 16 percent to 8.08 euros. Europe's biggest mail carrier cut its forecast for 2008 profit by 17 percent because of the slowing global economy.
Volkswagen AG climbed 80 percent to 379.59 euros. Porsche SE plans to raise its holding in the company to 75 percent next year.
>>>>>>>>>>>>>>>>>>>>
¿¿¿ is this the end of capitalism ??? the system is going down, so we need to make several changues
2001 OBAMA: TRAGEDY THAT 'REDISTRIBUTION OF WEALTH' NOT PURSUED BY SUPREME COURT
A video of Obama talking about: TRAGEDY THAT 'REDISTRIBUTION OF WEALTH' NOT PURSUED BY SUPREME COURT
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