TODAY IS Inauguration DAY: Barack Obama Sworn in As 44th President

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Stocks tumble on fresh worries about banks
Oil Rises as Traders Purchase Crude Before Contract Expiration
Oil markets suggest broad pessimism over demand
State of mining is bad, but it could get worse
Tens of thousands of mining jobs cut; more signs that worse is yet to come
"Expect inventories to get bigger and expect this continuing process (of cutbacks)," said Andrew Martyn, a portfolio manager who specializes in mining for Toronto-based Davis-Rea Ltd. "It's going to go for quite some time here."
"A lot of the communities are remote so that when (mines) do shut down, the town actually collapses," Martyn said.
Coal companies have slowed production from Wyoming to Australia.
Coal jobs are among the highest paying in many rural U.S. communities, potentially creating a dire economic ripple effect. In the past, coal companies have been more recession proof, but the average price per ton for Appalachian coal has fallen more than 35 percent since the summer.
"Companies still looking to cut costs are going to be cutting out high cost operations. A lot of that should be still to come," Barnard Jacobs Mellet analyst Patrick Chidley said.