David Tice: S&P500 Below 800 ?

Not my favorite Bear — but give credit to Bloomberg for the timing of this interview:

David Tice, founder of the $1.2 billion Prudent Bear Fund in St. Thomas, Virgin Islands, discusses the U.S. equity market.  The Standard & Poor’s 500 Index may drop below 800 as the economy slows, he said. The benchmark for U.S. stocks fell 2.3 percent today to 1,244.69, sending the index into its first so- called bear market since 2002.

On the market’s decline: "We sometimes we use the word `depression’ because a recession connotes really just an inventory adjustment, etc. What we’re talking about doesn’t have to be as bad as the Great Depression, but it’s a major long-term readjustment of the economy.”

click for video
Tice

Sources:
Prudent Bear Founder Tice Says S&P 500 Will Fall Below 800
Michael McKee and Katherine Greene
Bloomberg, July 9 2008
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aMmJcRGfAmRo

Category: Economy, Markets, Video

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Ted Koppel: The People’s Republic of Capitalism

Ted Koppel has a four part series on the Discovery channel, beginning tonight, on China.

Part 1: Joined at the Hip — Wed., July 9, at 10 p.m. ET/PT
Part 2: MAOism TO MEism — Thur., July 10, at 10 p.m. ET/PT
Part 3: The Fast Lane — Fri., July 11, at 10 p.m. ET/PT
Part 4: It’s the Economy, Stupid — Sat., July 12, at 10 p.m. ET/PT

It looks quite fascinating . . .

 


Sources:
Ted Koppel’s ‘Capitalism’ pays off big   
Robert Bianco
USA TODAY, July 08 2008
http://www.usatoday.com/life/television/reviews/2008-07-07-koppel-capitalism_N.htm 

Ted Koppel Opens Up About Meet the Press, Nightline and Conan
Media Bistro, TUESDAY JUN 24, 2008
http://www.mediabistro.com/tvnewser/generalities/ted_koppel_opens_up_about_meet_the_press_nightline_and_conan_86663.asp

The People’s Republic of Capitalism
Review: ‘People’s Republic of Capitalism’ on Discovery
Verne Gay 
Discovery, July 9, 2008
tonight through Saturday at 10

http://www.newsday.com/services/newspaper/printedition/wednesday/partii/ny-ettel5756145jul09,0,904763.column

Category: Economy, Video

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Cool Tool: Housing + Transportation Affordability Index

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T. Boone Pickens on Oil Prices, Wind Power

Boone Pickens details to reduce America’s dependence on foreign oil:

click for Video
Boone


UPDATE: July 9, 2008  9:43pm

Jeff Matthews points out Picken’s flip flop

“I was in wind energy for a minute…. I hate it. And when I got to looking at those damn things I said, I don’t want to be a part of putting that on the horizon. I think it’s homely and I don’t like it. We took a loss and got out of it and I’m glad I did.”

—T. Boone Pickens, Bloomberg, February 17, 2005

Related:
Boone Pickens: A man with an energy plan   
C/NET July 8, 2008 4:20 PM
http://news.cnet.com/8301-11128_3-9985905-54.html

Big Pickens: T. Boone, the Oilman, Ups the Ante in His Wind Bet
Keith Johnson
Environment, July 8, 2008, 2:11 pm
http://blogs.wsj.com/environmentalcapital/2008/07/08/big-pickens-t-boone-the-oilman-ups-the-ante-in-his-wind-bet/

Texas oilman T. Boone Pickens wants to supplant oil with wind 
Dan Reed
USA TODAY   July 8, 2008
http://www.usatoday.com/money/industries/energy/2008-07-08-t-boone-pickens-plan-wind-energy_N.htm

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Category: Commodities, Energy, Video

Read it here first: Implode-O-Meter Hits the NYT

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