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Cavuto: We are Bigger Than the Issues That Divide Us

 
 

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Lehman's still hurting.

Foreigners still balking.

Candidates still arguing.

Our trade deficit's still bad.

Our budget deficit is still really bad.

And some say our country's future looks really, really bad.

September 11, 2008...And these are the things that obsess us, and worry us.

Funny, seven years ago this day, I remember not a single person talking about Lehman, or brokers, wall street, or deficits.

No one mentioned their job or a recession just forming.

Or arguments on Capitol Hill and real battles just brewing.

No, that day, for one day...None of these "things" concerned us.

Because perhaps they were things.

Trivial things.

Far be it from me, the money guy, to say money things were silly absurd things.

But that day, for one day they were.

When we valued our families more, hugged our kids a little more, and thought about the meaning of life more.

I am not here to bring you down.

I am here to maybe help bring us all to our senses.

To rightly worry about the financial issues that divide us.

And remember a time when life and death issues captivated us.

After all, it's hard to worry about money in your life, if you don't have a life.

Hard to worry about the future of loved ones, if you've lost your loved ones.

Seven years is a long time, "and" a short time.

For married couples, we're told this is when they get their "itch."

Some search their marriages and walk out.

Most, I hope, search their lives and happily move forward, hand-in-hand.

Just like that surreal, hand-in-hand moment on Capitol Hill when Democrats and Republicans put aside their differences long enough to act like Americans, and not asses.

We are better than the financial and political issues that divide us.

This day, without preaching, I hope we remember seven years back, and appreciate what unites us.

The air we breathe, the country we share, the values we enjoy, and the freedom we treasure.

We remain a beacon, my friends.

Far brighter than the darkest financial news.

Sometimes I think we need to remember a time when things were much worse, and our basic fears much more pressing.

I don't remember anyone fretting about their wallet that day.

No, the only "itch" I encountered were people desperately trying to call their loved ones that day.

That's what mattered then.

With all the craziness in the world today, that is what should matter now.

I know it makes for great marriages.

I know as well it makes for great countries.

 
 

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Contango

No, it's not a dance craze. Contago is a condition of supply and demand, essentially a fancy word to say that prices for items, typically commodities, are cheaper now than they would be at some point down the line.

Anything that¿s sold in the futures market can be in a case of contango. Futures are exactly that: a contract to buy an item or asset at a price in the future. This is the case with oil, with traders buying and selling contracts to acquire a barrel of oil in months down the line. When a market is in contango, spot prices, or the price of a commodity if you were to buy it right now, are lower than forward prices.

Why is that important? Well, it usually tells you the supply of a given commodity is plentiful (since, according to Economics 101, a large supply usually leads to cheap prices).

Incidentally, if you think contango is a mouthful, its opposite condition is known by the equally tongue-tying term backwardation.