Pretzel Logic's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/199601/comments http://seekingalpha.com/article/129311-4-possible-market-scenarios?source=feed#comment-452106 452106 The charts tell the whole story. There is another option to your "one of four" scenario, and that is that we get MORE than one of those scenarios following in close succession.

Personally, I think we get the Great Recession first. It will be much like passing through the eye of a hurricane. Things will seem to be getting better for a while. Then, a year or two down the road, we get the back end of the hurricane, which will be even worse than what we've exprerienced so far. It will probably take the form of Great Depression 2.0. And maybe something else after that.

As I said, the charts tell the story. This is a higher degree bear market than '02. In fact, the closeset parallel is the last great depression. We will have a huge counter-trend bounce at some point that could be viewed as a bull market within the Great Bear (just as they had after the '29 crash) -- maybe we're getting that now. But the worst is yet to come. ]]> Sun, 05 Apr 2009 07:13:39 -0400 The charts tell the whole story. There is another option to your "one of four" scenario, and that is that we get MORE than one of those scenarios following in close succession.

Personally, I think we get the Great Recession first. It will be much like passing through the eye of a hurricane. Things will seem to be getting better for a while. Then, a year or two down the road, we get the back end of the hurricane, which will be even worse than what we've exprerienced so far. It will probably take the form of Great Depression 2.0. And maybe something else after that.

As I said, the charts tell the story. This is a higher degree bear market than '02. In fact, the closeset parallel is the last great depression. We will have a huge counter-trend bounce at some point that could be viewed as a bull market within the Great Bear (just as they had after the '29 crash) -- maybe we're getting that now. But the worst is yet to come. ]]> http://seekingalpha.com/article/129372-the-worst-isn-t-over-yet?source=feed#comment-452100 452100 Yeah, the market is in "bad news is good" mode right now. The rational is that things can't get worse -- and maybe they can't. But they're pretty bad already.

On Apr 03 11:07 AM schlumpf wrote:

> in cnbc the bulls wrote, its a good sign that the job losses are
> higher. The recession is over because the job losses are higher.
>
> I know everybody is long now. but this is crazy.]]> Sun, 05 Apr 2009 06:53:46 -0400 Yeah, the market is in "bad news is good" mode right now. The rational is that things can't get worse -- and maybe they can't. But they're pretty bad already.

On Apr 03 11:07 AM schlumpf wrote:

> in cnbc the bulls wrote, its a good sign that the job losses are
> higher. The recession is over because the job losses are higher.
>
> I know everybody is long now. but this is crazy.]]> http://seekingalpha.com/article/122143-dow-nears-50-retracement-tread-carefully?source=feed#comment-400982 400982
(Beyond that, the market has never been worth "0" - so 0 would be a fallacious starting point in any case.)

Anyway, if one considers 1982 to be the start of the great bull run to 14K, then the 50% retracement level would be 7494.04 and we've already broken it. Using Fibonacci retracements, that would make the next target the 61.8% retracement at 5890.]]> Tue, 24 Feb 2009 03:39:46 -0500
(Beyond that, the market has never been worth "0" - so 0 would be a fallacious starting point in any case.)

Anyway, if one considers 1982 to be the start of the great bull run to 14K, then the 50% retracement level would be 7494.04 and we've already broken it. Using Fibonacci retracements, that would make the next target the 61.8% retracement at 5890.]]> http://seekingalpha.com/article/122006-market-sentiment-still-no-panic?source=feed#comment-400973 400973 Tue, 24 Feb 2009 03:25:04 -0500 http://seekingalpha.com/article/120007-12-reasons-to-short-gold?source=feed#comment-388243 388243
I would also take issue with the idea of a second half recovery. That's just naive. For proof you site Obama and the gov't? The gov't didn't even admit to a RECESSION until it was almost a year old. C'mon, seriously.

Beyond that, I would short gold at your own peril right here. I was bearish on gold a couple months ago, but now that it's broken its downtrend, it's a new ballgame.]]> Sat, 14 Feb 2009 05:26:45 -0500
I would also take issue with the idea of a second half recovery. That's just naive. For proof you site Obama and the gov't? The gov't didn't even admit to a RECESSION until it was almost a year old. C'mon, seriously.

Beyond that, I would short gold at your own peril right here. I was bearish on gold a couple months ago, but now that it's broken its downtrend, it's a new ballgame.]]> http://seekingalpha.com/article/120202-oil-crashing-to-30-or-to-20?source=feed#comment-388238 388238 Sat, 14 Feb 2009 05:14:05 -0500 http://seekingalpha.com/article/119074-breakout-or-fake-out?source=feed#comment-379680 379680 Sun, 08 Feb 2009 06:38:16 -0500 http://seekingalpha.com/article/119105-markets-shake-off-unemployment-numbers-and-continue-higher?source=feed#comment-379676 379676
Mind you, I'm not saying I agree with the market, but that's the psychology. ]]> Sun, 08 Feb 2009 06:16:45 -0500
Mind you, I'm not saying I agree with the market, but that's the psychology. ]]> http://seekingalpha.com/article/115329-team-obama-vs-team-reagan?source=feed#comment-364861 364861
Imagine you are on the cusp of bankrupcy. Your employer is cutting wages several times a year, so you are earning less and less. At the same time, your cost of living is actually increasing, and your debts are mounting. You have passed the point of no return. Then someone comes along and says, "Hey, let's try to restructure your finances. We'll move some money around, refinance some debts, and see if you can't work your way out of this."

Several years later, you end up having to file bankruptcy anyway. Do you blame the guy who helped you restructure? ("Well! THAT didn't work! It's all his fault I'm bankrupt!") Or do you place the blame correctly, and realize that you were financially doomed long before that?

Reagan didn't create the disaster, he inherited it. And he did a pretty good job of making life MUCH better for the vast majority of Americans, if "only" for a couple of decades. ]]> Sat, 24 Jan 2009 08:36:19 -0500
Imagine you are on the cusp of bankrupcy. Your employer is cutting wages several times a year, so you are earning less and less. At the same time, your cost of living is actually increasing, and your debts are mounting. You have passed the point of no return. Then someone comes along and says, "Hey, let's try to restructure your finances. We'll move some money around, refinance some debts, and see if you can't work your way out of this."

Several years later, you end up having to file bankruptcy anyway. Do you blame the guy who helped you restructure? ("Well! THAT didn't work! It's all his fault I'm bankrupt!") Or do you place the blame correctly, and realize that you were financially doomed long before that?

Reagan didn't create the disaster, he inherited it. And he did a pretty good job of making life MUCH better for the vast majority of Americans, if "only" for a couple of decades. ]]> http://seekingalpha.com/article/113032-gaza-war-expect-a-spike-in-oil-gold?source=feed#comment-345204 345204
Gold lost its luster as a war safe-haven when Russia invaded Georgia (look at a GC chart if you missed it). I doubt most investors have forgotten that lesson this soon. I expect gold to see the $600's before it sees the $1000's again.]]> Sun, 04 Jan 2009 08:50:53 -0500
Gold lost its luster as a war safe-haven when Russia invaded Georgia (look at a GC chart if you missed it). I doubt most investors have forgotten that lesson this soon. I expect gold to see the $600's before it sees the $1000's again.]]> http://seekingalpha.com/article/104822-the-one-word-topic-of-the-day-and-week-obama?source=feed#comment-301005 301005
It's like having an inoperable cancer, and then hiring a "surgeon" who never went to medical school, and actually spent his entire life working at 7/11, to remove it -- solely because this 7/11 Guy had "hope" for "change" when all the real surgeons said it was inoperable. Good luck with that. In reality, 7/11 Guy (Obama) will just kill the patient faster.

Wise move, America. "Hope" springs eternal!

What this country needs for REAL change is Ron Paul, or someone like him. Sigh. Maybe 4 years from now, we'll be ready. No? Maybe 8..? We can only "hope." ;)]]> Sun, 09 Nov 2008 05:34:30 -0500
It's like having an inoperable cancer, and then hiring a "surgeon" who never went to medical school, and actually spent his entire life working at 7/11, to remove it -- solely because this 7/11 Guy had "hope" for "change" when all the real surgeons said it was inoperable. Good luck with that. In reality, 7/11 Guy (Obama) will just kill the patient faster.

Wise move, America. "Hope" springs eternal!

What this country needs for REAL change is Ron Paul, or someone like him. Sigh. Maybe 4 years from now, we'll be ready. No? Maybe 8..? We can only "hope." ;)]]> http://seekingalpha.com/article/104875-investors-face-the-psychological-pressure?source=feed#comment-300995 300995
a) Foreclosures come onto the market and lower comps (real estate values) for the whole neighborhood, so...
b) John and Mary ARM can't refinance now, because their house has become worth less than they owe, so...
c) John and Mary ARM get foreclosed
d) Go back to a)

a) Jack and Jill Consumer can't get HELOC loans anymore, because of everything outlined above, and because of the credit crunch, so...
b) J/J Consumer tighten their budgets, so...
c) Businesses have to lay off workers, because sales are down and...
d) People without jobs spend less
e) go back to b)

The last lynchpin is the government. How much of this bad debt do you think Uncle Sam can backstop in an environment of falling GDP/falling tax revenue before THEY become insolvent? If the foreign central banks decide one day to stop showing up to buy treasuries, we'll have our answer.

And on. There's a lot more, but I have limited time. Suffice to say: we're not even close to bottoming on a long-term basis. We might get a short-term rally... but long-term "investors" here will get creamed. It only SEEMS gloomy now -- it can get MUCH worse. One day we will look back fondly on this time as "the good old days."

Dow 3600 will be a buying opportunity for long-term investors who can see past the seemingly impenatrable doom and gloom that will be all-pervasive when we get there.

I sincerely hope I'm wrong, and by correlation, I hope you're right. But unfortunately, I don't think that's the case. ]]> Sun, 09 Nov 2008 03:58:09 -0500
a) Foreclosures come onto the market and lower comps (real estate values) for the whole neighborhood, so...
b) John and Mary ARM can't refinance now, because their house has become worth less than they owe, so...
c) John and Mary ARM get foreclosed
d) Go back to a)

a) Jack and Jill Consumer can't get HELOC loans anymore, because of everything outlined above, and because of the credit crunch, so...
b) J/J Consumer tighten their budgets, so...
c) Businesses have to lay off workers, because sales are down and...
d) People without jobs spend less
e) go back to b)

The last lynchpin is the government. How much of this bad debt do you think Uncle Sam can backstop in an environment of falling GDP/falling tax revenue before THEY become insolvent? If the foreign central banks decide one day to stop showing up to buy treasuries, we'll have our answer.

And on. There's a lot more, but I have limited time. Suffice to say: we're not even close to bottoming on a long-term basis. We might get a short-term rally... but long-term "investors" here will get creamed. It only SEEMS gloomy now -- it can get MUCH worse. One day we will look back fondly on this time as "the good old days."

Dow 3600 will be a buying opportunity for long-term investors who can see past the seemingly impenatrable doom and gloom that will be all-pervasive when we get there.

I sincerely hope I'm wrong, and by correlation, I hope you're right. But unfortunately, I don't think that's the case. ]]> http://seekingalpha.com/article/102761-bailout-schmailout?source=feed#comment-293881 293881
Getting even further away by nationalizing private business will ultimately make things worse, not better. We need to be stripping away all these never-intended functions of government, not adding to them. I can't believe all these cries I keep hearing, from both sides, of "give the government more power!"

Where is the outrage the left showed over the increased power of the government through the Patriot Act? You ain't seen nothing yet. Giving over our businesses and our banks and our health care, now THAT's giving the gov't real power -- because money is power in today's world. We are creating a monster that will devour our every last freedom.

We need a real revolution. Not an Obama or McCain "business as usual" revolution. Vote all the bums out. ]]> Wed, 29 Oct 2008 20:03:12 -0400
Getting even further away by nationalizing private business will ultimately make things worse, not better. We need to be stripping away all these never-intended functions of government, not adding to them. I can't believe all these cries I keep hearing, from both sides, of "give the government more power!"

Where is the outrage the left showed over the increased power of the government through the Patriot Act? You ain't seen nothing yet. Giving over our businesses and our banks and our health care, now THAT's giving the gov't real power -- because money is power in today's world. We are creating a monster that will devour our every last freedom.

We need a real revolution. Not an Obama or McCain "business as usual" revolution. Vote all the bums out. ]]> http://seekingalpha.com/article/101802-happy-sad-news-foreclosure-sales-climb?source=feed#comment-290141 290141
At least the stock brokers keep their message logically consistent (even if it's historically misleading): "Buy buy buy, stocks always go up long term."

Anyway, the other issue with home prices stabilizing is the overhead supply. How many people are waiting for prices to go up so they can sell? Quite a few. Which means, prices won't go up again for a while. And all those sitting on a 33% loss now need a 50% gain just to get even.


]]> Sat, 25 Oct 2008 04:46:46 -0400
At least the stock brokers keep their message logically consistent (even if it's historically misleading): "Buy buy buy, stocks always go up long term."

Anyway, the other issue with home prices stabilizing is the overhead supply. How many people are waiting for prices to go up so they can sell? Quite a few. Which means, prices won't go up again for a while. And all those sitting on a 33% loss now need a 50% gain just to get even.


]]> http://seekingalpha.com/article/101785-should-you-go-long-at-volatility-extremes-nikkei-as-example?source=feed#comment-290133 290133
Using earnings per share over the trailing 12 months, the current PE ratio for the S&P 500 index is 18:1. Only 21% of the months since 1871 have had higher PE ratios than this.

We're closer to historic high valuations than we are to historic low valuations.]]> Sat, 25 Oct 2008 02:34:48 -0400
Using earnings per share over the trailing 12 months, the current PE ratio for the S&P 500 index is 18:1. Only 21% of the months since 1871 have had higher PE ratios than this.

We're closer to historic high valuations than we are to historic low valuations.]]> http://seekingalpha.com/article/100212-this-recession-will-be-anything-but-deep?source=feed#comment-284265 284265
1) We are destroying credit, which is deflationary. Much of the money supply is credit and/or leverage. It is imaginary, not "real" money supply. As a result, money is being destroyed faster than it is being created.

2) We already HAD the rabid inflation people were predicting years ago. In case you missed it: oil was trading around $150 bbl, gold was north of $1000/oz., etc., ad infinitum.

3) We have never had inflation during a falling housing market.

4) We have passed a psychological threshold where banks, people, and businesses no longer view "easy credit" as desirable. Gov't can't reinflate that balloon right now, there are too many holes in it.

My personal opinion is that we get strong deflation for a while as the deleveraging and credit destruction continues. Once that unwinds fully, we will finally see inflation again.

]]> Fri, 17 Oct 2008 02:42:18 -0400
1) We are destroying credit, which is deflationary. Much of the money supply is credit and/or leverage. It is imaginary, not "real" money supply. As a result, money is being destroyed faster than it is being created.

2) We already HAD the rabid inflation people were predicting years ago. In case you missed it: oil was trading around $150 bbl, gold was north of $1000/oz., etc., ad infinitum.

3) We have never had inflation during a falling housing market.

4) We have passed a psychological threshold where banks, people, and businesses no longer view "easy credit" as desirable. Gov't can't reinflate that balloon right now, there are too many holes in it.

My personal opinion is that we get strong deflation for a while as the deleveraging and credit destruction continues. Once that unwinds fully, we will finally see inflation again.

]]> http://seekingalpha.com/article/99763-chasing-unicorns-the-cycle-gods-are-still-playing-with-us-mere-mortals?source=feed#comment-282658 282658 Wed, 15 Oct 2008 02:37:25 -0400 http://seekingalpha.com/article/99561-has-the-energy-tsunami-been-aborted?source=feed#comment-280741 280741
I know I'm not a family member, but I hear from a great many homeowners who are waiting for the market to go up so they can SELL. There is a huge overhead supply in housing, so I think the "technical damage" in the housing market will make it hard for prices to rise in the near future.

And we are still completely overbuilt. For years, the realtors told us, "They aren't making any more land!" Well, according to demographics, the problem is: they aren't making any more people, either. And the days of average Joe Speculators owning 27 houses are gone. There are tons of new developments that have huge vacancies. So demand will have to rise again to meet supply before houses can stabilize.]]> Sun, 12 Oct 2008 16:35:26 -0400
I know I'm not a family member, but I hear from a great many homeowners who are waiting for the market to go up so they can SELL. There is a huge overhead supply in housing, so I think the "technical damage" in the housing market will make it hard for prices to rise in the near future.

And we are still completely overbuilt. For years, the realtors told us, "They aren't making any more land!" Well, according to demographics, the problem is: they aren't making any more people, either. And the days of average Joe Speculators owning 27 houses are gone. There are tons of new developments that have huge vacancies. So demand will have to rise again to meet supply before houses can stabilize.]]> http://seekingalpha.com/article/99509-what-a-look-back-at-the-japanese-market-tells-us?source=feed#comment-280706 280706 Sun, 12 Oct 2008 15:36:28 -0400 http://seekingalpha.com/article/99516-reaching-for-the-bottom-in-the-markets?source=feed#comment-280334 280334 Sun, 12 Oct 2008 06:54:14 -0400 http://seekingalpha.com/article/99307-friday-outlook-commodities-emerging-markets?source=feed#comment-278562 278562
Lee Adler, who runs Captialstool.com, has a saying: "There's no such thing as support in a bear market."]]> Fri, 10 Oct 2008 06:44:54 -0400
Lee Adler, who runs Captialstool.com, has a saying: "There's no such thing as support in a bear market."]]> http://seekingalpha.com/article/99074-global-coordinated-rate-cut-nice-try-but-the-party-is-over?source=feed#comment-277538 277538
I'm no fan of Bush, but if we don't know how we got here, we don't know how to avoid repeating our mistakes.

Apparently, few seem to know about Robert Rubin (Clinton's Secretary of Treasury) and the *hugely* instrumental role he played in getting us here. Here's a quick education on the matter:

Rubin discovered a great accounting trick. He discovered that you could take the Social Security "surplus" and add it to the Treasury's balance sheet, and in its place you could write IOU's to Social Security. (Remember Al Gore's SS "lockbox"? This is what he was referring to.) So Rubin, through this accounting trick, created tons of extra liquidity out of thin air. (Rubin himself has written about this) This huge liquidity in turn led to the NASDAQ bubble.

When that bubble crashed, we should have paid the piper.

But instead of paying our dues, Greenspan dropped interest rates to artificially low levels and we traded the stock bubble for the housing bubble. Now that's collapsing, and it seems our due can be delayed no longer. But make no mistake about where this all started: it started in the 90's, long before Bush took office.]]> Thu, 09 Oct 2008 06:00:02 -0400
I'm no fan of Bush, but if we don't know how we got here, we don't know how to avoid repeating our mistakes.

Apparently, few seem to know about Robert Rubin (Clinton's Secretary of Treasury) and the *hugely* instrumental role he played in getting us here. Here's a quick education on the matter:

Rubin discovered a great accounting trick. He discovered that you could take the Social Security "surplus" and add it to the Treasury's balance sheet, and in its place you could write IOU's to Social Security. (Remember Al Gore's SS "lockbox"? This is what he was referring to.) So Rubin, through this accounting trick, created tons of extra liquidity out of thin air. (Rubin himself has written about this) This huge liquidity in turn led to the NASDAQ bubble.

When that bubble crashed, we should have paid the piper.

But instead of paying our dues, Greenspan dropped interest rates to artificially low levels and we traded the stock bubble for the housing bubble. Now that's collapsing, and it seems our due can be delayed no longer. But make no mistake about where this all started: it started in the 90's, long before Bush took office.]]> http://seekingalpha.com/article/98880-bank-of-america-s-acquisitions-what-was-ken-lewis-thinking?source=feed#comment-276556 276556
Love your blog, btw. Great work. ]]> Wed, 08 Oct 2008 06:39:12 -0400
Love your blog, btw. Great work. ]]> http://seekingalpha.com/article/98769-our-coming-depression?source=feed#comment-275421 275421 Tue, 07 Oct 2008 05:21:09 -0400 http://seekingalpha.com/article/98564-36-opportunities-for-the-beginning-of-the-bull?source=feed#comment-274492 274492
1) The markets are overly unstable, as the 300-700 daily point swings illustrate. We run the real risk of a crash.

2) The fundemental conditions are not anything most of us have seen in our lifetimes. Maybe everyone is RIGHT to be fearful. Contrarian indicators generally only work to confirm other indicators. They are virtually useless on their own, because the levels of bullish/bearishness are all relative. As an example: It may seem high when 50% of the people are bearish, relative to the 20% who were 2 months ago... but it will turn out that 98% will be bearish at the REAL bottom -- which makes the 50% seem low. There's just no way to know where you are in that cycle, except by hindsight.

3) There is a risk of systemic meltdown. This would obviously be exceedingly bearish.

4) The hedge funds are facing extremely high redemptions, and may be forced to continue selling.

5) The market anticipates the future. The future 6-9 months ahead looks worse, not better.

All in all, I have considered trying to bottom pick, but decided against it. Bottom picking implies a bottom -- and I'm not convinced we're there yet. Stocks are still not cheap by historical standards.

I would rather miss the exact bottom by a few percent than be way too early and lose dozens of percent.]]> Mon, 06 Oct 2008 07:21:27 -0400
1) The markets are overly unstable, as the 300-700 daily point swings illustrate. We run the real risk of a crash.

2) The fundemental conditions are not anything most of us have seen in our lifetimes. Maybe everyone is RIGHT to be fearful. Contrarian indicators generally only work to confirm other indicators. They are virtually useless on their own, because the levels of bullish/bearishness are all relative. As an example: It may seem high when 50% of the people are bearish, relative to the 20% who were 2 months ago... but it will turn out that 98% will be bearish at the REAL bottom -- which makes the 50% seem low. There's just no way to know where you are in that cycle, except by hindsight.

3) There is a risk of systemic meltdown. This would obviously be exceedingly bearish.

4) The hedge funds are facing extremely high redemptions, and may be forced to continue selling.

5) The market anticipates the future. The future 6-9 months ahead looks worse, not better.

All in all, I have considered trying to bottom pick, but decided against it. Bottom picking implies a bottom -- and I'm not convinced we're there yet. Stocks are still not cheap by historical standards.

I would rather miss the exact bottom by a few percent than be way too early and lose dozens of percent.]]> http://seekingalpha.com/article/98194-why-are-homebuilders-up-on-lousy-earnings-housing-tracker?source=feed#comment-273751 273751
Anyway, you'd be surprised how many of us 30-somethings know our history. I've been bearish since 2001 (I actually missed the cyclical bull we completed last year because I stayed bearish the entire time). This market looks a lot like the market of the late 60's to me, and I don't expect an end to the bear for years.

Why all the bashing of 30-40-somethings, when it's the Baby Boomers who took the strongest economy in history and basically destroyed it over the course of about 20 years? They mortgaged our economic future to China, Japan, et al and buried us in debts we cannot repay (except possibly by massive inflation). As far as I'm concerned, the Boomers sold this country down the river, but my generation will be the one left holding the bag.

So which generation has the short attention span, exactly?

Generation X: The suckers who are still buying into their 401Ks and paying their FICA because they don't know their history?

Or the Baby Boomer ME generation who just had to have their entitlements and a bigger home and a plasma TV and timeshare in Venice -- and didn't care how they got them, as long as they got what they wanted?

And, for the record, Cramer is a complete idiot.]]> Sun, 05 Oct 2008 05:23:22 -0400
Anyway, you'd be surprised how many of us 30-somethings know our history. I've been bearish since 2001 (I actually missed the cyclical bull we completed last year because I stayed bearish the entire time). This market looks a lot like the market of the late 60's to me, and I don't expect an end to the bear for years.

Why all the bashing of 30-40-somethings, when it's the Baby Boomers who took the strongest economy in history and basically destroyed it over the course of about 20 years? They mortgaged our economic future to China, Japan, et al and buried us in debts we cannot repay (except possibly by massive inflation). As far as I'm concerned, the Boomers sold this country down the river, but my generation will be the one left holding the bag.

So which generation has the short attention span, exactly?

Generation X: The suckers who are still buying into their 401Ks and paying their FICA because they don't know their history?

Or the Baby Boomer ME generation who just had to have their entitlements and a bigger home and a plasma TV and timeshare in Venice -- and didn't care how they got them, as long as they got what they wanted?

And, for the record, Cramer is a complete idiot.]]> http://seekingalpha.com/article/98405-eurozone-divided-by-banking-crisis?source=feed#comment-273296 273296 Sat, 04 Oct 2008 06:11:55 -0400 http://seekingalpha.com/article/98232-the-source-of-the-dollar-s-recent-strength?source=feed#comment-272400 272400 ]]> Fri, 03 Oct 2008 06:48:22 -0400 ]]> http://seekingalpha.com/article/98136-as-u-s-financial-markets-circle-the-drain-what-happens-to-clean-energy?source=feed#comment-271304 271304 www.climatescienceinte.../
and click on U OF ALASKA'S AKASOFU CONTESTS IPCC'S MOST IMPORTANT CONCLUSION.]]> Thu, 02 Oct 2008 07:08:49 -0400 www.climatescienceinte.../
and click on U OF ALASKA'S AKASOFU CONTESTS IPCC'S MOST IMPORTANT CONCLUSION.]]> http://seekingalpha.com/article/98136-as-u-s-financial-markets-circle-the-drain-what-happens-to-clean-energy?source=feed#comment-271300 271300 Thu, 02 Oct 2008 07:06:59 -0400