Thursday, October 2, 2008

Some Bullet Points

- Reinstating the uptick rule will make no difference. Stocks now trade in 1 cent increments, not in 25 cent or 12.5 cent increments like they did when the rule was imposed.

- The "sweeteners" that were added to the Emergency Economic Stabilization Act of 2008 jeopardize its passage in the House. Included in the bill was an extension of the Bush tax breaks.

- The War on Terror was the only war in U.S. history accompanied by a tax cut.

- The U.S. economy is on pace to lose jobs for the ninth straight month. The average monthly job loss this year is over 63,000

- 736,000 acres have been freed for exploration with the end of the offshore drilling ban (this was part of the appropriations bill passed last week, please check the post archive). Conventionally recoverable resources available in the said acreage are estimated at 16 billion barrels of oil and 62 trillion cubic feet of natural gas.

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