Japanese Premier Quits; Corn Syrup Sales Are Down
Jun 02, 2010
Maybe Tipper decided that all of Al’s talking was the real contributor to global warming? But there is more news people really should care about…
The Nikkei was down sharply overnight, but U.S. stocks are expected to open higher.
BP stock continues to take a hit, dropping 36% since the beginning of the Gulf oil disaster. With a looming threat it will enter receivership with the U.S. government taking the reins of U.S. operations, the outlook for it doesn’t look good.
The Japanese premier has stepped down from his post, according to an article in the Washington Post. That news has weakened the yen, dropping it 1.1% against the dollar. (Bloomberg story)
The Obama administration announced a public comment period on a new initiative for voluntary productive land retirement, according to an article from the Associated Press. The program brings together the timber industry, mining and ranchers with environmentalists to preserve the land.
The demonization of high-fructose corn syrup (HFCS) seems to be working. An article on The Huffington Post says that sales of HFCS dropped 11% from 2002 to 2008. That was even before the agriculture industry really woke up and determined there was a problem. It will be interesting to see how much it’s dropped in the past 18 months when those figures are available.
Demand for home loans and subsequently home buying has dropped for the past four weeks, says an article from CNBC. This coincides directly with the expiration of the $8,000 homebuyer's tax credit from the federal government.