feedaug03


	Log out


		Labor Day Weekend Edition (Aug 30 - Sept 1) Snow Kicks Off Asia Trip in Japan Â WPÂ Yen For Trouble NYP China Resists U.S. Pressure to Relax Rate for Currency WP Why China Is a Paper Tiger Asian WSJ Investigation into China's Technology Industry China.org Over 40 Domestic Car Brands on the Road in China Peopleâ€™s Daily September May End Winning Streak for S&P 500 Bloomberg For the past four years, the ratio of U.S. companies reducing earnings forecasts to those raising estimates was the highest in September. Will Sept. Song Be Sad Tune? Reuters Money managers fear bubble as stocks surge Reuters Soaring tech stock prices are prompting concern that investors have not learned from the late 90s boom The New Economy and an old dream of recovery Miami Herald Job-loss recovery SunSpotÂ Mystery of the 'jobless recovery' CS Monitor Is America's economy really too big to go down the drain? Independent The US will only be able to expand so long as the rest of the world is prepared to provide the funds The Brainteaser of Deficit Math NewsWeek By the time youâ€™re finished adjusting for reality, the projected budget deficit is about $7.4 trillion, not the advertised $1.4 trillion Current Commentary -- Where Are We Now? Cycle Pro Go beyond a firm's earnings USA Today Unlike earnings press releases, which often amount to promotional materials without the pretty pictures, a 10-Q contains all of the company's dirt and the risks it faces. Greenspan's Uncertainty Principle Frontline (Mauldin) Scratch Dickâ€™s Back He Will Scratch Yours NY Post CEO Pay Far from Being Scaled Back Reuters Workers, their companies are feeling pension pains Pittsburg Tribune Review Meeting of the Executive Board of the International Monetary Fraud - GS (Satire) Cars, trucks now outnumber drivers AP When the bubble bursts, we could all find ourselves out in the cold S-Herald In 1928, US President Herbert Hoover declared: 'We in America today are nearer the final triumph over poverty than ever before in the history of the land.' ...And we all know what happened next. Debt is closing in on middle classes Guardian Bubble traps economy Herald Sun Australia's economy is in danger of being held hostage to the housing price bubble. Storm clouds over the euro Taipei Times Richard Russell On the Markets & Gold Gold-Eagle ....real money burst out of its chains Russell While the Fed was creating multi-billions of junk dollars, gold languished. Worse, gold was denigrated, stomped on, spat upon, hated by the great central banks of the world... -- Greenspan on Gold (1966) Newmont chief sees gold future Denver Post Gold poised for substantial move higher FT Â Excel - GOLD Previous large open interest volumes were followed by events that rapidly moved gold prices. Dollar and Gold: The New Odd Couple TheStreet China's second gold listing more than doubles value Bloomberg Wisdom of Jesse Livermore 5 Zeal Two Runaway Bubbles and Global Reflation Prudet BearÂ (Noland) The real cost of free trade laws: American jobs Charlotte Observer Job exporters seen constraining U.S. recovery CBS MarketWatch Billionaire presidential hopeful H. Ross Perot warned America in 1992 of the "great sucking sound" of U.S. jobs flowing abroad. Today, his Perot Systems is making sucking sounds of its own. Buffett has invested at least $320 mln in Nextel Reuters Recovery is mired down by debt Scotsman SNB's Roth Says Swiss Economy Will Shrink This Year Bloomberg Warning as houses prices join heatwave Times Online GDP shrinks in 2nd quarter Toronto Star Saudi Arabia Eyes WTO Entry in Early 2004 Reuters Mass Mourning for Iraq Cleric, Five Held Over Bomb Reuters US taps JP Morgan Chase to lead Iraq bank consortium AFP Lex: Alan GreenspanÂ FT Friday August 29 Comstockâ€™s Atlantic City Presentation Comstock Randgold Resources chairman charged with fraud Reuters Consumer Sentiment Falls in August-Survey ReutersÂ Chicago PMI Greenspan Speech:Â Monetary Policy and Uncertainty FED The Fed fantasy CNN/Money The speech the market dreams of isn't the one it's going to get. Can Greenspan reduce confusion? CBS MarketWatch The only certainties in life are death, taxes and confusion from the Fed. Help-Wanted Advertising Index Holds Steady in July CB U.S. July Personal Spending Rises 0.8%; Incomes Rise Bloomberg Danger signs CBSM (SS) Financial sector tops spell trouble State Forecasts: Economic Growth, Lagging Revenues Stateline SEC investigates Grasso's $140m pay Times Online Mr. Donaldson is understood to be incensed at the huge award made to Mr Grasso Surging gold threatens to dim dollar's luster Reuters House Prices and Taxes: Another Economic Fallacy BrookesNews Goodyear to cut 500 jobs in North America FT 82 UCLA ejected from Sequoia's VC funds FT To have and to hold Economist Can people learn to be as rational as economic theory supposes? Tucker: Credit Conditions and Monetary Policy BOE (PDF) -- Warning over debts of UK borrowers Times Online -- Next rate move may be up, warns Bank Guardian Pushing Germany Off a Cliff Levy (PDF) Global View: Old Europe UPI Brazil 2nd-Qtr GDP Has Biggest Drop Since 1998 Bloomberg Mexico, Argentina Pesos Fall to 5-Month Lows Bloomberg Another false dawn in Japan? USA Today For the fifth time in 10 years, the stagnant Japanese economy is showing signs of life... Japanese government bonds breach key level FT BoJ spends Â¥2,000bn in money market FT Japan's Jobless Rate Flat; Wage-Earner Spending Slumped Dow Jones POLL-Japan fund managers' stock weighting highest in years Reuters Officials: Recession likely in Hong Kong AP Hilton casts gloom over recovery in hotel market Independent Thursday August 28 â€œAmericans hitting the road for the Labor Day holiday will pay the highest U.S. gasoline prices everâ€Â Reuters -Â Drivers feel pain U.S. Second-Quarter Gross Domestic Product Grew at 3.1% Rate Bloom BEA U.S. Initial Jobless Claims Rose by 3,000 to 394,000 Last Week Bloom The incredible shrinking IT industry TheRegister Smoke and mirrors FT "Look out for the Fall" 321 The Debt Bubble M-Nugget IMF warns US on deficit The budget: worse than you think CNN/Money Recent CBO estimates have made headlines, but they could be overly optimistic Housing, Another Boom/Bust Cycle in the Making? Bloom (Baum) Housing poses one danger the stock market never did: There's more debt associated with the underlying asset... The biggest U.S. refinancing boom ever may finally be ending Reuters Investors Take Pass on Treasury Auction Reuters "People are looking ahead to the five and 10-'s and wondering how they're going to fare given the liquidity problems seen in the last auctions" If Past Is Prologue, Rally May Start Cooling Down NY Times (R) Tech gains leave money managers fearing new bubble Reuters Fed's Nuances Mystifying Markets WP (Berry) Until recently Greenspan's had a picnic Gold-Eagle Or, I wouldn't want to be in Greenspan's shoes Gold timers seem hard to impress CBSM Two Kinds of Gold Standards North Investors climb on bullion bandwagon Toronto Star A Run on Gold? 321 Gold Waiting In The Food Line 60 Minutes II With unemployment rising, there has been a sudden leap in the number of people on emergency food assistance...And in Ohio, some of the food lines look as if they've been taken from the pages of the Great Depression. 'Sooner or later, that eviction notice will come' Seattle Times Aid agencies across the county are struggling to keep people off the street As layoffs mount, import relief sought News ObserverÂ Whereâ€™s Bush? Bankruptcies. Plant closings. Hundreds of workers with nowhere to turn. It's all familiar to North Carolina's textile industry after nearly a decade of free trade, but now it's happening in furniture factories throughout the state. Is the U.S. auto industry doomed? SlateÂ Amazon: The End of Detroit (Sept 23) SEC Eyes Imagis in Big Fund Probe NY Post A Stock Buyback Even as Chief Sells NY Times (R) Hollywood Entertainment, which runs a chain of video stores, wants to buy back at least $30 million worth of its shares. Its chairman and chief executive, Mark J. Wattles, wants to sell almost as much. A Showdown at the Checkout for Costco Business Week Munich Re says S&P downgrade 'unjustified' FT Revlon Running Near Empty NYT (R) Chrysler Tells Union More Job Cuts May Be Required, People Say Bloom Silicon Graphics cuts 600 more jobs AP More layoffs possible at EDS DFP Global Crossing to cut 100 jobs RKMN SGI to ax 600 more workers Mecury N Hercules plant employees face layoff HattiesburgÂ 50 Warren Buffett, Sage of China Too? Bloom Sensible Buffett no match for Arnold Accountants sued by Polaroid investors AP Labranche Must Give up Emails NYP EarthLink Sues Spammers - Amazon Sues Forgers Broker refunds ordered AP Feds criticise Oklahoma's WorldCom move FT Aspen businessman to repay investors nearly $900,000 Rocky Mountain News NYSE Monthly Disciplinary Report NYSE Grassoâ€™s Jackpot NYP Small Accounting Firms Exit Auditing Smart Pros (WP) The exodus of smaller firms that will perform public company audits raises broader and more serious concerns about competition in the accounting industry A Travel Alert for John Snow Business Week As the Treasury Secretary heads to Asia, there is growing ire in the U.S. about China's cheap currency. Reading Chinaâ€™s tea leaves Economist Asia will be test of Snow's softly-softly strategy FT Pressure mounts... BBC IMF slashes UK growth figures, says leaked Fund report Independent Brown flirts with markets' weapons of mass destruction Times Online Credit card culture takes hold BBC A Swedish `No' Would Be a Heavy Blow for the Euro Bloomberg China's Growth Creates a Boom for Cargo Ships NY Times (R) Argentina's economic crisis brings record low wellhead natural gas prices O&G Corporate profits sag 7.3 per cent Toronto Star Marconi rings up wider losses BBC Halliburton, Bechtel Win More Iraq Deals Reuters Wednesday August 27 Gold jumps in Europe on options expiry, euro Reuters Ki Platinum at new 23-year high on speculative buying R As Gold, Dollar Rally, Standard Correlation Comes Undone A Surge Protection Team? 321 Gold Bullion stampeding to six-year record This is London Gold ready to drop $20/oz in September? Reuters Bubble Trouble Morgan Stanley There is no simple cure available that could extinguish the mushrooming of asset bubbles and the volatility that this imparts on the real economy. NYSE Pays $139.5 Mln to CEO Grasso Reuters WorldCom, Ebbers Charged With Violating Oklahoma Law Bloomberg Mortgage demand hits 14-month low Reuters Pension Problems and Insider Sales Comstock Why Fannie Mae and Freddie Mac Look Vulnerable Bloomberg IMF Draft Cuts Global GDP Growth Forecast Reuters Deficit outlook: Dire for at least 8 more years Arizona Republic Iraq war adds to US budget trouble BBC More to bond market selloff than meets eye Â AP Greenspan Isn't Dead TheStreet Greenspan the loser in central bankers' pay league Observer Job's Haven't Come with This Recovery Tribune Business News "With recoveries like this, who needs recessions?" Former dot-commers adjust to new realities CC (NYT) Gas pains CBS MarketWatch Just when you thought it was safe to expect the U.S. economy to shift into higher gear, along comes a surge in gasoline prices... Housing's Threshhold of Uncertainty Business Week What to expect?Â Anything from a gentle cooling to a burst bubble Living in a state of disrepair: California Miami Herald Paul Allen looking to sell TechTV Reuters (WSJ) 3 airline CEOs' pay rose amid layoffs, study finds Bloomberg A Wave of Delusion Smart Money For all the talk of paradigm-shattering killer-apps, Wave will have to pull off a minor miracle just to stay in business. High-flying stocks become short targets MSN Why is everyone picking on China? Globe & Mail (Ingram) Japan Is Spending Heavily to Pursue a Weak-Yen Policy NY Times (R) A bullish mood returns to equity markets, but is it for real? Independent Property no substitute for pension, warns Pru Telegraph Pension funds seek alternative investments FT Growth forecasts for London's economy cut Scotsman Goldman May Form China Venture With Fang, People Say Bloomberg Intel to build assembly plant in Sichuan FT Tuesday August 26 Japanese Bonds Plummet as Banks Likely to Sell to Limit Losses Bloomberg CBO Sees Budget Deficit of $480 Billion ReutersÂ CBO Consumer Confidence Index Rebounds in August Conference Board Durable Orders Up 1% Census Echoes of LTCM in recent U.S. swaps market storm Reuters "There was a pure lack of liquidity, it was absurd" Five years on from the hedge of disaster Guardian The industry is bigger than ever, but have the factors that brought down LTCM really gone away? Global Oomph? Morgan Stanley (Roach) The precarious post-bubble state of the worldâ€™s growth engine, the lack of global demand linkages, and serious cross-border imbalances all speak of a lingering vulnerability that reflationary policies have not resolved. Piekarski explains how and why the bull run is about to end WBJ Market Eye: High plains drifter UPI Wall St. Rumors Sparked After Execs Leave Giant Hedge Fund NYP Why The Economy May Appear Weaker NYP (Crudele) A word of caution from Value Line CBS MarketWatch Deficit seen at $500 billion next year AP Offshoring fad has a dark side KC StarÂ Why not offshore the CEOs? Longtime job losses take toll on victims St. Paul Star Tribune 1 in 5 unemployed Americans has been out of work six months or more, and this year has brought the highest levels of long-term unemployment since 1983. "Stealth Depression" Joblessness in Milwaukee Since 1990 UWM.ED PDF Paper company laying off more than 100 AP 280 - Hillary's Book - 75 Layoffs Should inflation be worrying us now? AME Gasoline Prices Soar To Highest Point Yet WP Homeowners Getting Refinancing Surprise WP Locks on Low Rates Getting Broken Bye, Bye Building Boom? CNN/Money Retailers Getting Out of C-Card Business WP CC revenue relies more on fees Reining in Freddie Mac a key to stabilizing market UPSÂ Geanakoplos Some Freddie Mac Securities Downgraded WP Intel chief says better forecast may not reflect end of PC slump Bloomberg Earnings Below 1997, Disney's Stock Has Skeptics NY Times (R) Mr. Disney, the vice chairman and a nephew of the company's founder, sold 43 percent of his holdings last Wednesday. AmeriCredit reports loss, restates results Reuters FirstEnergy Shareholders Suffer a Power Failure NYT (Morgenson) (R) Two Utilities warned that outages were possible AP Fiorina's brief honeymoon is over G&MÂ Anna sends Amazon CEO into shock Commentary: The Big Four: Too Few to Fail? Business Week Conan can't dodge the details Financial Post (Krugman) Buffett Buys 10M Shares of HCA Inc. NYPÂ HCA Everyone likes a party, but what happens when the music stops? Inde Whichever way we look at it, consumers are more vulnerable than they like to think they are Coastal property prices rise by up to 103 per cent Independent Asia's tigers awake and on the prowl Financial Post Bouncing back from '97 financial crisis China closes foreign investment gap FT China is rapidly catching up with the US as the world's most popular location for foreign investment.Â ~Â World Investment Report U.S. Job Losses Blamed on China's Currency NY Times (R) China walks fine line between growth, overheating Reuters China wants unions for Wal-Mart AP Top 500 Chinese firms named Xinhua Of 100 world-famous brands named in the US-based magazine BusinessWeek lastÂ year, six were from Asia but none of them were from China Is Japan Recovering? AEI (Makin) Limp summer sales at big stores blamed on weather Japan Times Furukawa may join Japan's 'fallen angels' IHT Brazil's Lula Loses Support From Business on Economy Â Bloomberg Berlusconi wants Italians to work five years longer TimesofMalta Lucent wins Iraq contract amid bribery allegations FT Monday August 25 Leading Indicators Are Leading Nowhere Forbes Lack of investor fear is ill omen FT Like 1987, only worse MSN (Fleck) As a crisis of confidence looms for bonds and the dollar and the markets play out their recovery fantasy, the chance of a crash grows every day -- as does the depth of its consequences. Risk-takers didn't learn from the bear market AP The most active stocks, which historically have sold at discounts to the market when bull markets began, are now trading at about a 15-percent premium. The Cost of Great Expectations: Disappointment NY Times (R) There are real dangers if the herd breaks in the wrong direction... Budget official says biggest gap ever, $401B, will get worse Newsday Holtz-Eakin wants to paint an even grimmer picture of federal finances For Budget Shortfalls, Choose Grim or Grimmer NYT (R) On Tuesday, the Congressional Budget Office will unveil its latest prognosis for federal budget shortfalls over the next 10 years... Bush Gives Bond Investors Reasons to Doubt Deficit Will Drop Bloomberg The Fall of the Dollar and the Global Economy AEI Seniors tighten budgets as interest rates on savings stagnate Det Free Press Many small businesses hold back on spending plans USAT NFIB Hedge Fund Hold-Up NY Post The collapse of the Lancer operation peels back the covers for the first time on what this business is actually all about: secrecy and deceit. Interest from hedge managers raises concerns over volatility FT Gas prices skyrocket, more increases expected AP Gold market at a crossroads CBS MarketWatch Tyco's auditor to testify against former chiefs FT Ousted InfoSpace founder ordered to repay $247 mil. AP The award is believed to be one of the largest ever ordered under the SEAâ€™s rule against so-called "short-swing" trading RIM insiders sold amid rumours Globe & Mail Merrill Received Fraud Warning About Trader Dan Gordon in 2001 Bloomberg Book: Broadbandits (Chapter 2) Rocky Mountain NewsÂ Amazon The biggest bubble in the history of the modern business world was not the dot-com bubble, but the telecom bubble. Wal-Mart Hikes August Sales Forecast Reuters Obesity, binge drinking and smoking are targets - so why not debt? Gu China raises reserve ratio for most banks IHT (Bloomberg) Central bank in China raises reserve requirement NYT (R) 'Public Banks Lose 15 Quadrillion Within the Last Five Years' Zaman (Turkey) BBC launches public attack on Murdoch 'imperialism' Independent A tally of US taxpayers' tab for Iraq CS Monitor Weekend Edition (Aug 23-24) Wall Street Seeks Clearer Deficit Signal WP Still waiting FT The main sources of encouragement have not been real data at all, but expectations. Manufacturing the Data MauldinÂ Waiting for Godot Richebacher Japan and US Busts Zeal Way Behind the Curve Prudent Bear (Noland) Pop Goes The Bubble North Intel: Investors flock to a bellwether Globe & Mail (Ingram) US carmakers' pension hole may be 'understated' FT The hole in US carmakers' pension funds could be more than twice as big as investors thought, according to a study by Goldman Sachs The elusive pension AP In tough times, companies find creative ways to fund their retirement plans California to market its bonds BloombergÂ California economy's world ranking California, with the lowest credit rating of any U.S. state, next month will begin selling $18 billion in bonds for this fiscal year at a time when the state pays more to borrow than any other state Muni Bond Yields May Peak at 5.58 Percent This Year Bloomberg Labor Costs Keep Grocers in Doldrums Reuters Freddie Mac CEO To Step Down WP Citigroup fined 1 million by NYSE IHT (Bloom) They Fired Two Auditing Firms. Who Wants to Be No. 3? NYT (R) U.S. looking at possible Lucent bribes AP Ploughed Under NYP CBOE's opening gambit to see off rivals FT In the end the CBOE's best trading brains held out against Mr Kasparov for two hours before he declared victory. City says ho-hum to Wi-Fi Buffalo News Â How hot are hotspots? Ottawa BJ WTO entry helps China pull it off India Times Overseas Investors Shun South Africa Bloomberg Computer worm proves to be not SoBig after all Boston Globe Friday August 22 Stock futures jump on Intel CNN/Money Gas prices may reach highest level in history H-Chronicle On Thursday, the markets "went ballistic" Gasoline's rally biggest in 5 years; Oil, NG up 3% CBSM The perils of a pipeline Arizona Republic Political Power Overload Business Week Dollar Heads for Weekly Gain, Advancing 3 Percent Against Euro Bloomberg Biggest weekly gain against the euro in almost 2 1/2 years Prediction (Aug 16): The future of the USA stock market UCLA (Sornette) Is Beijing successfully sabotaging the US economy? BrookesNews Whoâ€™s Carrying The Can? Cross Currents What the steep yield curve is telling us CBS MarketWatch What Is The Sustainablility Of The Economic Recovery? Comstock What's special about 400K? CNN/Money Claims fell below the "key" level of 400,000 last week. There's just one catch... The Anatomy of Deflation Mises Gold: Double Bubble, Toil And Trouble Gold-Eagle Pierre Lassonde Has Identified The Real Reason For A Continuing Rise In The Price Of Gold MineWs A Crackup for World Trade? NewsWeek The global trading system is in trouble -- mainly because it became overdependent on big U.S. trade deficits. The U.S. Is Falling Asleep on the Job Fortune Jobs have left before, but this time America's place in the global economy is at stake. CEOs Profit from Layoffs, Pension Shortfalls, and Tax Dodges UFE The CEO-worker pay gap was 281-to-1 in 2002, nearly seven times greater than the 1982 ratio of 42-to-1 Freddie Mac Board Told to Remove CEO WP Freddie Still Has Knives Out TS Regulators Cite Parseghian's Role in Improper Accounting; Directors' Response Is Unclear Young Merrill Trader Left Trail of Deceit NY Times (R) Lancer Big Flips NYPÂ Shareholder sues Kerkorian vehicle FT Swords and Schering-Plough Shares TheStreet Boeing To Issue Layoff Notices To 1,400 Employees AP IBM lays off 15,000, HP 1300 TheRegister Why PCs are still a hard sell BBC NYSE Short Selling Interest Drops Sharply NYSE All about California CNN/Money Buffett worries that the Golden State could lead the U.S. back into recession. But is he wrong? Fresh blow to Brown as business cuts spending Scotsman Different this time, maybe Economist A stockmarket rally and stronger growth in Japan. But weâ€™ve been here before Equity release is no cure-all Times Online Just like practically everyone else, pensioners are cashing in on the boom in residential property prices. Alarm for elderly in equity release Times Online No release... Investors bet China will yield on yuan IHT GM drives toward luxury-car market in China Reuters Central Bank Plans to Rein In the Ruble Moscow Times Road map in peril as cease-fire ends CS Monitor Bush seeks fresh UN resolution on Iraq FT Thursday August 21 Leading Economic Indicators Rises 0.4% Â Bloomberg Jobless Claims Fall, Lowest Since Feb. Reuters Will a 100-year storm sink Fannie Mae? CBSM â€œIt is now quite likely that revelations of unhedged, miscalculated and undisclosed derivative risks, amounting to TENS OF BILLIONS of dollars, will soon rock the entire financial world...â€ Housing Bubble, MortggeÂ Rtes, and Spam North When the Fedâ€™s monetary inflation pushes up price inflation, as it will, and price inflation then produces inflation premiums for long-term loans ("Donâ€™t pay me off with those depreciating dollars!"), both Fannie Mae and Freddie Mac will face bankruptcy on a scale larger than anything seen in Western economic history. Of Bombs and the Bond Market Safe Haven (Faber) Fannie Mae cuts mortgage forecasts on higher rates Reuters Fannie Mae's downward revisions followed a similar move by the Mortgage Bankers Association of America on Monday. MBAA Rep Baker:Fannie,Freddie Downgrade Would Hurt Market Dow Jones â€œIf a GSE had its credit rating downgraded, it would have a dramatic, instantaneous impact on the entire financial marketplace...â€ Lender's shutdown is a warning for homebuyers Â Chicago Sun Times How real is the metals rally? CBSM (Calandra) Factors Align in Gold's Favor TheStreetÂ Platinum: close to 23-year highs Market strategists not worried as corporate execs shun stock MSNBC Bears in Bulls' Clothing? TheStreet (Task) U.S. Homeowners, Gambling on Rates, Choose Adjustable Mortgages Bloom Searsâ€™ Solution? Sell Some Stores, Then Lease Them Back NYP (Crudele) Dell Cuts Prices Up to 22 Percent Reuters HP saw no need to warn on profit shortfall Reuters A company official said HP was under no obligation to issue a warning Viagra Will Soon Be Facing Competition WP EBay makes a bid for television SF Gate Troubles MCI Prepares to Lay Off 2,400 Staffers NYPE R.J. Reynolds plans more job cuts ReutersÂ Vector Group Delays Launch AP Elmer's cuts hit Bainbridge workers PressConnect 'King of hip' hit by financial woes in the past Times Online Schrager will need all his famed pugnacity to ensure he makes it through the current down cycle. SEC Tells Outside Directors: Beware NY Post Analysis: Energy prices expected to climb UPIÂ Power Struggle CFO Feds See Gas Prices Rising Reuters U.S. planning to auction disputed offshore lands Globe & Mail Buffett loses bid to delay disclosure IS (Bloom) The Buffett disaster WorldNetDaily With only seven weeks to go, Buffett is too large a figure to be relegated to a corner like a naughty boy. Asia starts to gasp for energy Asia Times Across all of Asia, from India to China andÂ south to Australia, a severe energy crunch is developing... Japan's Market Cannibalism Problem Bloomberg The irony here is that the very thing Tokyo has been hoping for -- a rising equity market -- threatens to hurt the economy. Fears over debt crisis BBC Eurozone in the red as French economy shrinks Times Online Graphic One in four putting off retirement This is London Brazil Lowers Key Interest Rate to 22 Percent, Third Cut in Three Months Bloom Investors say buy, buy to bad news Sydney Morning Herald Yesterday, two of the nation's blue-chip companies reported two of the biggest losses in local corporate history. The market's immediate reaction was to shoot their share prices higher. Swatch Group is hit hard but optimistic Swiss Info Nestle combats shopper gloom BBC Bad loans mar surge in CIBC's profits Toronto Star Effort to earn a Big Mac varies country to country Kyodo Get-rich scheme advisers convicted SMH World Bank steps back from Iraq BBC Israeli troops raid two West Bank towns AP Sobig Virus Spread is Fastest Ever; Nachi Worm Continues DJ Wednesday August 20 Truck Blast at U.N.'s Iraq HQ Kills 20 - Suicide Blast Kills 18 on Jerusalem Bus Treasuries Take a Spill, Lack Liquidity Reuters Treasuries took a sudden spill on Wednesday as mortgage-related selling returned to give a somnolent market a jarring wake-up call. Countrywide Was Big Lender to Failed Capitol Commerce TheStreet Tick Tick Tick -- The Economy Bomb Action America The wealthy are leaving the United States in record numbers The Demographics of Saving and Growth Mises Central bank boosts reserves RKMN (Bloom) Fed adds $32 billion in the first two days after power outage. Tues:+$5 Bill Soros, Bacon, Jones Hedge Funds Fail to Gain From Yield Surge Bloomberg â€œFew people want to remember what happened to hedge funds in 1999, when the hedge-fund index returned minus 9 percent and scores of funds went bust.â€ IHT Dividends and The Three Dwarfs Pimco PDF Americans, fearful on jobs, start paying down debt CBS MarketWatch Poll: Rebate checks paying off debt CBSM Housing's last hurrah CNN/Money U.S. mortgage applications last week fell 10.7 Percent Reuters A Slump in 2003, Layoffs in the 1700s? WP Wall Street plays dirty despite cleanup effort MSN A review of recent takeovers shows price spikes and surging volume ahead of news that only an insider would know. H-P falls after missing Street estimates CBS MarketWatch For some, a bad dream come true Boston Globe I have a recurring nightmare. In my dream, Wal-Mart decides to go into the business of writing an economics column for newspapers. U-Haul's Parent Finds Equity Gains in Bankruptcy NY Times (R) Mr. Shoen has been meeting with groups of potential stockholders and talking up Amerco's shares. His approach has alarmed some holders of Amerco's nearly $600 million in bonds, who think the company has too much debt and want stock... S.F.'s luxury Clift Hotel in Chapter 11 bankruptcy SF Gate Banks move analysts' work to India FT Bank of America joins exodus to China IHT (Bloom) A Shrinking Herd NY Post Two high-ranking members of Merrill Lynch's private client business have abandoned the bull. GM counts cost of soaring healthcare bills FT On each one of the 5.5m vehicles churned out by GM's north American factories, healthcare for pensioners cost more than $1,300, well above the steel cost. Blackout's Cost Estimated to Reach $6B AP Why we need $60/barrell oil Prudent Bear The China Syndrome Northern Trust Some geo-political thinkers believe that it is inevitable that the U.S. and China become military rivals. But right now, the Chinese are enabling us to modernize our military on the cheap. Argentina's hard times dwarf recession in the U.S. Seattle Times Many here blame the U.S. for backing economic policies that led to their crisis French economy in trouble BBC France's economy shrinks by 0.3%, following in the footsteps of Italy and Germany which are already in recession. At least three false dawns in the land of the rising sun Times Online China unlikely to revalue yuan TT (Bloomberg) Is Taiwan winning the chip wars? Taipei Times Chairman caused bank's failure, ministry claims Taipei Times US threatens trade war as Iceland resumes whaling Independent Government debt sales to stay weak on recovery Reuters Pipe woes clog Arizona gas lines USA TodayÂ Help on the way in gas siege Economy can't run on fumes A Republic Tuesday August 19 Happy Days Are Here Again? Northern Trust Outlook â€œIt is beyond us why the rest of the world willing advances the U.S. $1-1/2 billion a day to buy bigger cars, bigger houses, and cruise missiles, especially in light of the Federal Reserve pledging that these foreign investors will be paid back with U.S. dollars that will be worth less in the future...â€ Michigan sentiment index dips CNN/Money U.S. housing starts unexpectedly rose to the highest in 17 years Bloomberg If recovery loses steam, U.S. economy may face big-time trouble (WSJ) Market Eye: Summer's well-financed hopes UPI In the eight years from 1990 to 1997 mortgage originations averaged just $745 million per year. The trillion mark was surpassed only once, in 1993. A reminder: this year the MBA expects more than $3 trillion in originations...what will happen to the U.S. economy when refinancing peters out, as the MBA expects it to, later this year and into 2004? Newman bearish on US economy West Australian Fear creeps into US economy recovery AFPÂ Fear: gas ever higher USAD Banana peels are all over the road to economic recovery KC Star Big bets on bonds turn up large losers Detroit Free Press In bubbles investors lose a shedload, not just a lot Economist (Aug 12) American Treasury-bond yields have been rising sharply, a fact which has almost nothing to do with growth prospects or inflationary pressures. Greenspan, Fed Bosses Share Your Investing Pain NY Post (Crudele) Fed Tried to Handle Bubble - Ex-Researcher Reuters â€œ...during the period of the bubble, the FOMC was already using forecasts based on an assumed decline in the stock market.â€ The next key resistance level for the Dow is 9450... TheStreet (Task) Personal Bankruptcies at record pace AP Â ABI Â Depth of debt Scripps Howard 1.6 million Americans filed; consumer debt problems grow Quarterly reports not as rosy as they look AP Merrill estimated that the year-over-year 3.8 percent sales gain in S&P 500 companies during the second quarter would be knocked down to only a 0.9 percent rise had foreign exchange translations been excluded. Recession shadow still long Indi Post-Tribune Five states have begun to see growth, 23 states continue to be flat and 22 states continue to be mired in recession...â€All of these predictions (for improvement) are based on companies starting to hire right nowâ€ Does The Fed Fight Inflation? BrookesNews In January 1980 the US Federal Reserve Board's money base stood at $132 billion. By the end of April the base was $573.4 billion, an increase of 334%. Ethics 101 for fund managers CBS MarketWatch -- Amazon: There's No Such Thing As "Business" Ethics... Blame spreads far in telecom's fall USA Today Boeing to outsource 140 more local jobs Seattle PI IBM Lays Off 600 Capitol Commerce Could Be Rates' First Hide TheStreet H&R Block may be hurt by mortgage exposure-Barron's Reuters NWA can use stock to fund pension Pioneer Press GAO probes closed FirstEnergy plant AP Many 'events' caused blackout FirstEnergy Corp. has been named in a lawsuit filed on behalf of those affected by the August 14 energy blackout...Â Reuters NYC Economy Loses $1 Billion in Blackout RÂ The Road to Ruin Krugman (R) From programmer to pot-scrubber AP Ex-white collar workers making ends meet at Starbucks, car lots Magazine Readership Declining Newsday Top financial officer pleads guilty to fraud ARepublic Metris under formal probe PPÂ Avery Dennison gets subpoena Reuters Bullion trader seeing stars Calandra Who will have the Midas touch in Ghana? Spot Gold Poised For Price Correction - Rothschild Dow JonesÂ Russell New gold fund pounded in rumour mill MineWeb The Professor that Gambled on Worldcom and Lost Philly InquirerÂ Amazon â€œThe entertainment value of the market is not to be dismissedâ€ The Superfund - a Fiasco in the Making Scoop Media If one invests in a market with historically high P/Eâ€™s (not to mention the worst debt problems in the worldâ€™s history) the upside is virtually nil and the risk is enormous, yet that is just what most fund manglers are doing today and what the custodians recommend for the money that is supposed to protect us in our old age. This is not only unwise but also unethical... Grim outlook for factory jobs Times Online Europe still follows Japanese road map Times Online Japan and Postbubble Pathology TheStreet (Task) Japan's recovery still lacks consumers IHT (Bloom) Bad-loan disposal costs still higher than profits Japan Times Japan's Bonds Plummet, Head for Longest Losing Run Since 1994 Bloomberg British manufacturing heads east on a slow boat to China Independent China set to expand its industrial heartland Sapa-AFP Guangdong is already one of China's richest provinces, and produces a staggering 10% of the world's total consumer products. The rise of China Inc. Boston Globe China headed for inflation, deflation or both? Reuters China's vast market for pirated DVD's IHT (NYT) Chinaâ€™s Little Emperors: Another Tragedy in the Making? BrookesNews Cancun was meant to kick-start the world economy. Now pessimism reigns Ind US battles Iraq pipeline blaze BBC The 12 Lessons of 1998 Default Moscow Times Brokers: Lessons From 1998 Crash Make Repeat Unlikely St. Petersburg Times Got milk? Uncle Sam sure does Pioneer Press Monday August 18 Sun may be setting on one of historyâ€™s longest bull markets Santa Cruz Sentinel The bull market was born in 1981 with the bond market was in tatters. Bonds investors, who thought rates of 8 percent looked attractive in 1978 were sitting on losses of 40 to 50 percent. A bond manager sees more pain ahead for bonds MSN Bond Market Panic Continues. Hereâ€™s Whatâ€™s Coming Next... SOAÂ PDF Making a mountain out of a molehill Toronto Star Insiders say double or quits CBS MarketWatch Corporate insiders have been selling all summer, but the stock market hasn't fallen. Yet. More NYSE Stocks Exceed Averages; Decline Foreseen BloombergÂ Chart When more than 75 percent of the Big Board's stocks climb above their 200-day average, it's a sign that benchmark indexes may have peaked... Has Fed's Superspan lost the plot again? TO FOMC Operations Chart â€œ...just as he did with his dalliance with dot-commery and the new economy, Greenspan arguably pushed the bond flirtation one step too far.â€ U.S. won't recover magic of the '90s Arizona Republic For many U.S. companies, falling prices are a real problem CNN/Money An Insurance Bubble May Be Looming PRNewswire A Crackup for World Trade? NewsWeek The global trading system is in trouble - mainly because it became overdependent on big U.S. trade deficits. Gas bills will spark the real American energy crisis TO Power Outage Traced To Dim Bulb in White House Palast Will the truth about deregulation will ever see the light? Blackout Validates Morgan Stanley, Goldman Energy Bet Bl Power Lines Need Huge Investment Reuters State pipelines need expansion, officials argue A-Republic Bogle blasts fund industry CBS MarketWatch If you want a short answer from Jack Bogle, ask him what he's satisfied with in the fund industry. Wall Street's Harsh New Reality NY Times (R) Citigroup unit still paying Grubman Reuters They're Getting Richer! Times Bush cut taxes on dividends to lift the economy, but it's CEOs who are getting the biggest windfall Time To Clean Up PWC NY Post Are soaring commodities paving the way for inflation? CBSM Watch out! The stock market is bubbling again Telegraph Margin of Safety in the Asset-Class Era Â Efficient Frontier Does the Global Economy Need a Global Currency? News With Views Gold Bullion fund to list on LSE FT Gold Mine De-hedging Steams Ahead, says Gold Hedging Indicator Minesite â€œNothing I'm doing should be viewed as a step toward retirementâ€ AP Buffett lays down gauntlet on Prop. 13 SF Gate Was Buffett, just a day after being named one of Schwarzenegger's top advisers, suddenly behaving like a loose cannon? Onto the dragon's back Sydney Morning Herald China takes to capitalist road with a vengeance Guardian Turning Japanese? FT Â Tokyo breaches 10,000 for first time in a year Japanese Bonds Slide as Gain in Stocks Saps Demand for Debt Bloomberg Housing boom 'creates underclass' BBC Iraqi oil disruptions could last weeks Â BBC The High Cost of Europe's High Temps Business Week Traders hit by 'rogue' customers BBC More than half of tradesmen across the UK have been left out of pocket by people who refuse to pay. Weekend Edition (Aug 16-17) Story Time From Bushâ€™s Former Point Man on the Economy Failure to make the hill will mean an accelerating downward rush to the valley below, destruction of the train, and widespread injury and death.Â July 25 F Mortgage Markets Are Out of Control NY Times (R) (Morgenson) Factories Move Abroad, as Does U.S. Power NY Times (R) More than half of the manufactured goods that Americans buy are made abroad, up from 31 percent in 1987 Game Over Prudent Bear Baghdad bounce or bubble? Guardian SF Mortgage Lender Shuts Down; Borrowers Stunned AP â€œI'm surprised we haven't seen more failures like this. It might not be the last...â€ --- Fidelity president Scott Brittenham said "no one on the planet" could have foreseen the swift jump in interest rates.Â Seattle Times --- "the market may change, but our commitment won't. Year after year, Capitol Commerce Mortgage is there for you, in good markets and bad." U.S. productivity may be more mirage than miracle Reuters Stupid Economist Tricks Frontline (Mauldin) The S&P 500 Interim Top Zeal The Interregnum Market Prudent Bear (Noland) Is it 2003 or 1987 on Wall Street? Prudent Bear The Stealth Bull Russell Â Essentialist Observations Bonner Interest-Only Plans Catch On as Curb to Mortgage Payments NY Times (R) Rising mortgage rates are driving borrowers to take out loans in which their monthly payments for the first few years are used to pay only the interest... As mortgage rates rise, refis start drying up SFC Those building homes face rate dilemma Bankrate Rising rates take toll on borrowers SFC Credit cards and college students not a good mix Seattle PI Twenty-one percent of undergraduates had credit cards with high-level balances between $3,000 and $7,000, a 61 percent increase over the 2000 data Overabundance in mutual funds? No way Bloomberg After a 2 1/2-year bear market for stocks, the casualty toll in the mutual-fund business is remarkably light...â€The perception of variety, even when illusory, stimulates people to consume more." Hedge funds nearly stagnated in July, data show Reuters New Freddie Mac CEO defends stock sales AP Xcel sets more NRG charges, dividend at risk Reuters Got milk? After 6 decades, local dairy will be saying 'no' Seattle PI Schrager Hotel Files Bankruptcy NY Post Philip Morris' $12 billion appeal bond reinstated by judge AP Soros sells off some airlines in second quarter Reuters Reinsurer faces wind-up Royal Gazette Catastrophe closes in on Tabbies Globe & Mail â€œOfficials said the contractor simultaneously walked away from more than 20 work sites across the country.â€Â Union Tribune 2003 Blackout Wall Street holds a pajama party Financial Post Blackout may spark change in flawed utility biz NY Post Blackout causes explosion at Marathon refinery AP Timeline: Countdown to the blackout AP Shutdown Domino Triggered by a Mystery WP Blackout May Have Started With `Nine-Second Event' Bloomberg Banks Strain to Open Branches, ATMs ReutersÂ Aviation Chaos Blackout Highlights U.S., Canada Feuds AP Lowest trading volume of the year CNN/Money â€œThe biggest complaint on the floor is about food because all the delis are closed.â€ Wall Street: We're open for business CBS MarketWatch Factbox: Impact of Blackouts on Markets Reuters U.S. Blackout Has Companies Weighing Return to Work Bloomberg Treasuries Drop; Officials Say Blackout Not Linked to Terrorism Bloomberg Brent Crude, U.S. Gasoline Surge as Blackout Shuts Down Plants Bloomberg Blackout rumours send National Grid lower Times Online NGG - Homepage NGG: Balance Sheets - Cash Flow Statment Crazy day could've been worse USA Today Blackout Shows Vulnerability of Nation AP Power loss shows similarities to '65 blackout Boston Globe The Great Northeast Blackout of 1965 CMP Iraqis Offer Tips Over U.S. Blackout AP Friday August 15 EWI's Market Watch: The Warren Buffett Story You Did NOT Hear About EW Fed Considered Bigger Rate Cut In Late June WP (Berry) June Minutes Lowering the overnight rate target close to zero "could have adverse repercussions on the functioning of some sectors of the money market" The Fed gives gold investors a green light Saville Industrial Production Up 0.5% in July FEDÂ CPI Up 0.2% BLS Gamblers fall in love with tech stocks again, but will it last? Montreal Gazette Twilight Zone Economics NY Times (R) (Krugman) But while the growth and new claims numbers were good news, they didn't tell us that the economy is improving. All they said is that things are getting worse more slowly. Are The Market Confirming a Strong Recovery? Comstock Homeownership in a Bubble: The Fast Path to Poverty? CEPR Nationwide, the rise in home prices has exceeded the overall rate of inflation by more than 30 percentage points since 1995. This sort of run-up in home prices has no precedent in the post-war period... US states' fiscal crisis worrying--IMF economist Reuters California woes may hurt companies MSNBC Economic recovery and the yield curve BrookesNews Did Pension Plan Accounting Contribute to a Stock Market Bubble? Levy PDF Uh-Oh: Pensions May All Be in Peril Fortune Ruling against IBM's cash-balance plan could doom the entire pension system. Mortgage-related convexity selling is hitting bonds Reuters Fannie and Freddieâ€™s â€œHouse of Cardsâ€ Gold-Eagle (SF Group) Fidelity cuts stakes in Freddie Mac, Fannie Mae Reuters U.S. Probing CareFirst Over Attempted Sale WP Suit: Citi Pushed Worldcom Bonds NYP Lehman, SG Cowen Fined for Ex-Broker's Thefts TheStreet R J Reynolds defies SEC investigation Times Online In an unprecedented move, R J Reynolds is refusing to hand over documents relating to the way the company accounts for litigation settlements in its quarterly results, unless the SEC guarantees that the information remains confidential. Elan misses US accounts deadline FT Buffett Lists Lower Petrochina Stake Reuters Investor Buffett talks politics at KU Med event Journal World Property Slump Ruins Many in Hong Kong NY Times (R) Pension complaints hit record high Times Online JapanWatch: Foreigners push stocks up UPI Thursday August 14 Buffett Joins Schwarzenegger Campaign as Adviser WP Buffett battles image as bargain hunter while seeking acquisitions B Claims Stay Low, Producer Prices Rise Bloomberg Fed keeps rates down but fears a sudden surge in bond yields Inependent Battering of Bonds FT Fannie Vulnerable to Interest Rates WP America's selective strong dollar policyAsia Times As a result of the current account deficits of the past 20 years, the negative netÂ international investment position (NIIP) of the UnitedÂ States now exceeds $3 trillion (30 percent of its GDP)Â and is climbing by about 20 percent per year. Global fund management: caveat investor Asia Times â€Only 12 percent of individual funds are in index funds, although more than 25 percent of institutional money is invested there...It's notÂ our fault if investors insist on believing they can beatÂ the market," is the active fund manager's defense.â€ Hot Tips Pimco (Gross) Pimco's Gross Says He's Grabbing Inflation-Protected Treasuries Bloomberg Clash of visions over deficit CS Monitor Behind the Surge of Capital Spending Business Week Beware: The recent increase has more to do with military outlays and spending on replacement gear -- not productive new expansion Will Corporate Debt Weigh Down the Recovery? Business Week Views On Economy Worsen CBS To the beach -- or bust? USA Today Many states in fiscal free fall CNBC New Yorkâ€™s Pension Time Bomb NY PostÂ IBO -- PDF File New York leads nation in raising tax in '03 Garnett A Lump-Sum Threat to Pension Funds NY Times (R) SEC Opens Probe Into MetLife TheStreet SEC Bars PwC Partner Who Audited Tyco Reuters Massachusetts sues hedge funds ReutersÂ Lancer Ducks SEC NYP IRS Probing Imclone Taxes NY Post FDIC launches case against man involved in bank fall Bluefield Daily Champion probe may bring federal charges Baxter Bulletin Big Board Doubles Most Minor Fines NYP Few Gains for Investors Suing Over Research WP Lawmakers concerned Verizon may move jobs Boston Globe Schwab to fire 250, shut 20 branches Bloomberg Mexican State Seeks to Renegotiate $3 Billion of Debt Bloomberg â€œMany of the other states are going to want the same treatmentâ€ U.S. Treasury Secretary John Snow will visit China later this month... CBS Germany Slipped Into Recession as Euro Curbed Exports Bloomberg Debt poses risk of house price crash, warns Bank Times Online BOE Spending boom could turn nasty Times Online House price woes hit Countrywide -Â Country house prices falling BBC Inquiry into BP 'irregular trading' Times Online Market manipulation rap delays listing of OSE Japan Times Ripplewood to Borrow $1.76 Bln to Buy Japan Telecom Bloomberg IT revolution's dirty secret: E-waste exports Asia Times Toxic dumping has been occurring in the Third World for decades Baghdad battle to serve Big Mac This is London Wednesday August 13 Fund managers play momentum game FT -- 60 per cent of the 276 fund managers contacted in the week to August 7 thought technology stocks are the most overvalued sector in the world -- Merrill called the figure "an extreme result the likes of which we have not seen before." -- Yet only 17 per cent of managers were underweight in the sector... Analysts concerned as insiders dump stock LAT Last month, officers, directors and big individual shareholders at U.S. companies sold more than $32 of company stock for every $1 they bought U.S. July Retail Sales Rise 1.4%; Ex-Autos Increase 0.8% BloomÂ Census Mortgage demand falls to 1-year lowÂ Reuters Industry survey reveals number of overall requests for home loans has plunged 16.1% in past week. When US numbers are only make believeÂ This is London The Fed Can Make Only Partial Amends TheStreet White-collar jobs lost for goodÂ CBS MarketWatch Even in the so-called "jobless recovery" following the 1990-91 recession, employment was rising at this juncture The Search Is Over ABC News Thousands of Jobless Have Given Up Looking for a Job Altogether Poll Suggests US Public Worried About Deficits, EconomyÂ AP Deficit Word games GovExec Treasury ought to speak for itself AJC The Fantasy System RussellÂ The Re-Monetization of Gold North Market Eye: View from the beach UPI 20 (Too) Popular Stocks Motley Fool You might be surprised to learn that the largest numbers of U.S. investors hold these 20 stocks...Do we understand what we own, and are we holding great companies at good prices? The answer to both appears to be "no." Plan Would Ask Banks to Warn of Data Vulnerability WP Applied Materials Posts Loss; Sales Drop 25% TheStreet Penthouse Publisher Files for Bankruptcy Reuters South Stevedoring files for bankruptcy Miami Herald Schering-Plough Reiterates Financial Woes TheStreet Moody's to Review Some Sun Micro Debt TheStreet FBI to widen MCI probe FT Â Gillette in a lather over Schick's new razor Coke says 'I'm sorryâ€™ -- Offers Burger King $21.1 M USA Today $43M Wall Street scam NY Daily News Gordon Gekko might have nothing on financial whiz kid Daniel Gordon. IBM: warming Dell customers The Register The role of central bank money in payment systems BIS PDF Despite dire warnings, debt continues to rise Guardian Germany set to remain mired in recession in second quarter: Economists AFP UK unemployment falls again BBC Surprise rise in UK inflation BBC NTL chief 'rewarded for failure' Guardian Copper Falls on Concern Codelco May Start Selling Its Inventory Bloomberg Drowning in Dollars Business Week It's a problem for China, but is revaluing the yuan a wise move? Gold Rush Hits China Stk Mkt As Cos Grapple With Reform Dow Jones Oil majors plan China projects Reuters Chinese shred CDs in wood chippers in show of antipiracy AP Tuesday August 12 FOMC Statement FED â€œThe probability, though minor, of an unwelcome fall in inflation exceeds that of a rise in inflation from its already low level.â€ Traders keep close eye on Fed's fine print FT Fed Will Wait Until Late 2004 to Raise Rates, Bond Firms Say Once bitten... CNN/MoneyÂ Fed balanced on a knife's edge Ingram Burned by the Fed in 1994, the bond market is playing it cautious. Selected comments from Greenspan since 2001 WP The Bear's Lair: Funny numbers are no joke UPI Second quarter earnings season demonstrated one thing: U.S. management's ingenuity in using creative accounting to produce a deceptive earnings picture is unabated. Of all the threats to the U.S. economic system, this is the direst. -- Amazon: Hidden Financial Risk (2003) ~ Funny Money Game (1970) Ignore History? FoxNews (Q&A) Be careful of reading too much into price changes Independent An Interview With Jim Rogers TradingMarkets Blue chip: Economists raise US Q3 growth estimate Taipei Times (Bloom) Refinancing boom threatens to bust JS Online Chip biz to see 'lacklustre' 2003 growth Register Semico Oil not drowning economy -- yet CNN/MÂ China's recovery boosts oil demand Homelessness grows as more live check-to-check USA Today As Americans file for bankruptcy in record numbers and credit card debt explodes, more workers are a paycheck away from losing their homes. Now the frail economy is pushing them over the edge... Overproductive and underemployed Economist Massive job cuts in California WSWS On the Job: Fewer workers are taking a long summer vacationÂ Seattle PI Mass. Sues Morgan Stanley on Fund SalesÂ Reuters Pay $520 million, Microsoft told Seattle PI Cash-Flow Management at Tyco?Â CFO Analyst claims company inflated free cash flow by $152 million last quarter The "What if?" Berkshire CallÂ Motley Fool Delta to trim executive pension plan AP Reliant Resources Cuts JobsÂ APÂ Slater Steel lays off 830Â T-Star Sony fights plunging prices, softened demand AP Miners rush to finance their venturesÂ CBS MarketWatch (Calandra) Analysts Can't Stop Gold 321Gold We'll probably never know whether J.P. Morgan and Merrill, in putting the knock on Newmont, were simply shaking the tree so that their institutional customers could have the opportunity to suck up NEM shares at bargain prices. Futures Trading and the Internet NY Times (R)Â The Disaster Market Slate Markets simply act as a gauge of people's expectations. U.S. appealing WTO's ruling on steel tariffs AP Dollar Off Low, Intervention Fears Weigh Reuters Dealers suspect Japan may have stepped in at slightly below 118.50 per dollar and around Monday's low. European State Bailouts Return With a New Look Bloomberg UK power prices soar as Europe's utilities tap into grid Times Online Exporters hit as trade gap widens Guardian China Maintains Stable Currency Through Transparent Market Operation PDaily Black market behind China Web stocks: Analyst Cnet Japan's 2nd-Qtr Economic Growth Accelerates to 0.6% Bloomberg Japanese Airlines Seek Emergency Loans AP Rebuilding Iraq Likely to Top War's Cost WP Fast-moving Internet infection spurs warnings AP The Internet worm does not affect Linux, Unix and Apple users â€œAbout 11 percent of all analyst ratings are sells vs. less than 1 percent during the late 1990s market boom.â€ AP â€œThe trend in the revenue growth in the consumer cyclical sector is worrisome...â€ Chuck Hill Â PDF Monday August 11 Interest rate bonanza may have run course Mecury News Bond Rout Will Push Fed to Tighten TheStreet Fed, ECB Poised to Raise Interest Rates, Futures Market Shows Bloomberg All talk/no action - how the US bond market rodeo broke away from the Fed Gu After the turmoil in the bond markets over the past two weeks, Alan Greenspan must be wondering if he should chuck in his day job and get a job in the bond markets as well. Berkshire Unloaded Huge Slug of Treasuries Last Quarter TheStreet UK suffers pain of bond sales FT Bond losses may force hedge fund closures FT No Big Bangs From Bonds' Volatility TheStreet â€œThis isn't 1998. There's no Long-Term Capital Managementâ€ ------------------------------------------------------------------------------------------- Midas Swings to Loss, to Cut 600 Jobs Reuters MetLife Cuts Its Reported Profit Martha Stewart Net Down; Scandal Hurts ReutersÂ Sysco Beats Disillusionment: ticket to lower stock prices MSN (Fleck) Share prices are too rich, and economic policy can't solve what a speculation bubble created. When people finally realize this, watch out. Contrarians And The Keynesian Myth Safe Haveb Indicators of '20s saw rosy future SunspotÂ (WSJ) â€œOn the whole...the United States rarely has entered the second half of any year better circumstanced.â€Â Forbes. July 1929 Jobless recovery lasting longer than economists expected Philly The Real P/E Ratio Â Decision Point Basel II 'could damage banks' capital market liquidity' FT It's not really a debt bond, state says SF Gate The state's plan to pay off $10.7 billion in deficit-reduction bonds has been called a shell game, but that's an insult to shells. Shortfall in U.S. oil stockpiles keeps prices rising at the pump IHT (NYT) The Natural Gas Crisis: Greens Engineer another Disaster Cap Mag Gold bugs are gathering CBS MarketWatch Unhedged gold stocks at six-year high Mining News Newmont Mining Eyes Gold Boost on Asian Currency Hike Asia Pulse Some major companies still use pro forma accounting USA Today Trader Gordon Investigated for $43 Million Theft at Merrill Â Bloomberg Lancerâ€™s Big ZI Buy NY Post John Bogle is getting plenty of help these days TheState HP set to roll out 100 products SF Gate IRS Loses A Big One Commercial AppealÂ # 03-CR-20111, USA v. Kuglin Small firms left behind in recovery Guardian Singapore's economy contracts in second quarter AP China may cut U.S. debt holdings on weak dollar Reuters â€œIf the United States continues to groundlessly demand a renminbi revaluation, China may raise the possibility of such considerations...â€ China's trade booms on low yuan Financial Post Japan calls for Asian neighbour to let currency rise in valueÂ Urged to unpeg AFR China grabs a seat at furniture-export table Miami Herald (WSJ) Online share trading 'surges' BBC Weekend Edition (August 9-10) Flashback: Gutfreud Says â€˜Dump Debtâ€™ NY Post "It's pretty simple...You can't keep lowering interest rates and having people refinance and borrow and borrow and borrow, and expect this to be a sound basis for a growing economy." Investors keep chasing short term New Haven Register Investors have a penchant for doing the wrong thing at the wrong time. A Warming Economy Burns Bonds US News The irony is, the more traders anticipate a robust recovery by aggressively dumping treasuries, the less robust the recovery is likely to be Convertibles May Be In for A Slowdown WP (AP) To Insurers, a Long, Free Ride Is Looking Risky NY Times (R) Mister Bond NY Times (R) (Gross Q&A) Loss of factory jobs may have a long fall to bottom B-GlobeÂ New Job Reality In a relative sense, manufacturing has been in decline for 50 years... Wall Street's Legal Woes Aren't Over Just Yet NYT (R) Canada loses 13,300 jobs in July Toronto Star Visa working to introduce its credit cards to Iraq LA Times Buffett, Vanguard Spur China-Stock Rallies in U.S. Bloomberg Chinese stocks traded in Hong Kong and the U.S. are among the world's best performers this year. Chinese stocks traded in the mainland's biggest markets are among the worst. The Half-Empty Glass Morgan Stanley (Roach) TradingÂ the Gold-Stock Bull 2 Zeal The Post-Boom Boom Prudent Bear (Noland) Conflicting Opinions FrontlineÂ (Mauldin) Echoes of the Crash of '87 CBS MarketWatch Do surging bond yields spell another meltdown? Rating Banks' Bond Exposure TheStreet A hedge fund manager said the government-sponsored company was calling investment banks last Thursday trying to strike a deal to sell Treasuries in bulk U.S. Treasury 10-Year Note Rise on the Week After Debt Auctions Bloomberg As gold brightens, 'paper' version lags CBSM (Calandra) Are we on the road to deflation? Arizona Republic Stiffer Accounting Standards Debated WP U.S. Steps Up Investigation of AOL Newsfactor Bond Trader at Merrill Taps the Firm's Bank to Spin Gold NY Times (R) Many bond traders who take a multimillion-dollar position on a given day are notorious for releasing their stress by breaking phones or hurling objects, but Mr. Wittlin's demeanor is more reserved. U-Haul parent loses CFOÂ FTÂ SEC conducting probe into RJR Once the 'next big thing,' Segway slow taking offÂ Seattle PI (NYT) NHS pensions bill soars to Â£100bn Times Online Does the government hate pensioners? Scotsman Gilt index gives reassurance over possible danger of a bond 'bubble' Scotsman Barclays raises alarm on mortgages FT Barclays launched a swingeing attack on rival banks for using what it said were "dizzying income multiples", "suicidal" pricing and "a gallop into the buy-to-let sector" to gain market share in mortgages. Elan granted reprieve by bondholders Independent Private machinery orders rose 2.4% in June Japan Times India orders tests on Coke, Pepsi as protests bubble AFP Friday August 8 Lawsuits Mount Against Freddie Mac Reuters Bond losses threaten hedge funds FT SEC Ends One Tyco Probe, Others Remain Reuters Itâ€™s War at NYSE NY Post Grasso:Â "Any question my prosecutors ask you, you either answer, or you are a former member of the New York Stock Exchange that moment. There is no such thing as constitutional rights..." Â Top NYSE man quits as his firm faces inquiry Times Online Russell back in the bear camp CBS MarketWatch Needed: Central Bankers With Far Away Eyes Pimco Schroders: deflation story something to look at for the second half of 04 Pressi Deficit Strains Pension Agency WP Legal but Absurd: Borrow a Billion and Report a Profit NYT (R) What Would the Luddites Say About Productivity? Bloomberg Your home: Worst-case scenario CNN/Money Will rising interest rates unravel all of the gains of the recent housing boom? California gripped by circus scene CBSM Morgan Stanley Hires Analysts in India to Save on London Wages Bloomberg NASD Pushes Disclosure Rule For Fund Brokers WP Amazon's Search for a River Business Week Why Utilities Lack Spark BW Nortel executives get stock bonus worth millions Globe & Mail The "Washington Agreement" review- will go ahead! SH CFOs Slightly More Upbeat, Survey Says CFO CFO confidence on upswing; less than half planning capital investments, however In tough times, splitting couples fight for pennies NewsWeek Italy has officially entered recession BBC The 1995 bank crisis returns to haunt Mexico IHT (NYT) Millions struggle with card payments BBC Job market worsens in July Swiss Info July 22 -- Exuberance Returns Smithers July 11 -- Freight Trains and Steep Curves Hussman Thursday August 7 Jobless Claims Fell 3,000 to 390,000 BloomÂ DOL 2nd-Qtr Productivity Rises at 5.7% Rate; Costs Fall 2.1% BloomÂ BLS Fannie Mae's Loss Risk Is Larger, Computer Models Show NYT (R) Fannie faces much bigger losses from interest rate swings than it has publicly disclosed, according to computer models used by the company to estimate the value of its assets and debts. Analysts Question Freddie's New CEO On His Role in Deals WP Is there a global debt bubble? Business Standard Many savvy global investors one speaks to are convinced that we are in the midst of a global debt bubble, and one that is looking quite over extended... Silly season not good for stocks CBS MarketWatch At the moment, fund managers, traders and other large investors are eyeing each other suspiciously, wondering who might be the first to disclose a big loss in fixed-income trading...If that occurs, the reaction will be swift and brutal. Earnings growth still murky FT The widening gulf between his estimate for revenues and the profits expected begs the question of where the rest of the profits will come from. Rising bond yields loom over robust US housing AFP Consumer Confidence and Economic Activity BrookesNews After the disaster of 1929, economists and politicians resolved that this must never happen again. The easiest way of succeeding at this resolve was, simply to define "depression" out of existence. Fed Needs to Be More Candid in Defining Goals, McCulley Says Bloomberg Concerning the Export of Capital Mises Pay to U.S. Directors Reveals Back-Scratching Bloomberg Ex-CEO convicted in IPO fraud USA Today Power struggle at Merrill claims second top executive Times Online Peril At Merrill - More Shake-ups Likely Â NY Post Banks set up funds to avoid taxes Reuters Ford: More Cost Cuts Coming in 2004 Reuters Intel faces $600 million tax hike AP Wal-Mart's Sales Climb, Outlook Raised Reuters Central banks sell 280 tonnes of gold in H1 ReutersÂ GFMS â€œThe banks still hold 32,200 tonnes of goldâ€ Correcting Disinformation Expiration Of Bullion Sales Pact Hangs Over Gold Market Dow Jones More S&P 500 Members May Lose Places Bloomberg Financial problems could cost janitor security clearance AP Cleaning out the Fridge: The Federal Reserve & Six Flags NYP (Crudele) Vanguard Buys Key China Oil Stake, Emulating Buffett Bloomberg No change for UK interest rates FT Surprise rise in German unemployment FT Market raider cleared in tale of bribes, spies and lies Guardian Telefonos Venezuela May Default; Cites Dollar Rules Bloomberg Brazil's State Workers Protest Pension Cuts, March on Congress Bloomberg Australian Protectionist Shoots Himself in the Head BrookesNews Virgin threatens 40% price cut to NZ SMH Bogus share predator back SMHA A suicide embroils the 2 Koreas IHT Iraqi oil snafus push prices higher MSNBC Help-Wanted Advertising Index increased three points in June CB The Index now stands at 38. It was 47 one year ago. Wednesday August 6 Assset and Debt Deflation in the United States Levy (PDF) How far can equity prices fall? Market Recovery Meets a Big Stumbling Block Bloomberg It would be heartwarming to see patient investors rewarded for hanging on steadfastly through the travails of 2000-02. Only thing is, the market is not in the business of warming hearts. Mr. Dow 1000 NYPress Nick Guarino fights Wall Street (and the law) Cooking the facts to keep the White House happy IHT (Krugman) W's New Deal? Clinton learned it early: Keep the bond traders happy Philly Inquirer $2 Billion a Day: Where is it Going? Sierra Times Aug 1: Mortgage havoc wreaks 100-yr storm on bond markets Reuters (PDF) IMF Says U.S. Budget Gap Threatens Investment, Growth Bloomberg New 52 week lows hit a new high CBS MarketWatch One of the technical warning signs in the late summer of and early fall of 1987 was that new 52-week highs had begun to be eclipsed by new 52-week lows. Is A 1929-style Stock Crash Likely October 2003? Gold-Eagle This is a Vulnerable Market - except for Golds G-E Bond Crash Is Sign of System Bound For Financial Catastrophe EIR The stage is set for a deliberately triggered financial/economic disruption of unprecedented dimensions. Interest rate spike endangers economy CS Monitor Last-chancers boost mortgage demand Reuters In Most of the U.S., a House Is a Home but Not a Bonanza NYT (R) Fuel prices 'cream' firms USAT Critics Blame Bush AP Californians leaving state in droves Oakland Tribune The great migratory flood of Americans into California that began with Dust Bowl refugees during the Great Depression of the 1930s has apparently ended Rental glut has owners in rut Rocky Mountain News Gillette lathers up for wet shaving's four-blade battle Guardian Gold miners struggle as bullion shines FP EU gives Microsoft 'last chance' to reform Guardian SEC deals now labeled guilt admissions AP What You Don't Know about Sarbanes-Oxley CFO Shares must rise 50% to save pensions Times Online Pension funds' seven deadly sinners Times Online Half of workers with no provision TO Graphic: Whoâ€™s Who in the Pension Crisis French Government Leads $8 Billion Alstom Rescue, Preserving 27,000 Jobs B The French government is leading more than 30 banks in a 7 billion-euro ($8 billion) rescue to avert bankruptcy at Alstom SA Graphic: India & China Charm Away British Jobs Times Online The Economic Rise of China: Threat or Opportunity? Cleveland Fed (PDF) China Posts Double-digit Growth in Gold Production Peopleâ€™s Daily Government sale of China Steel shares draws few buyers Taipei Times Service Sector -- Employment Remains Sluggish Northern Trust â€œMany new cars today have one feature that is likely to keep running longer than ever before -- their loan payments.â€ CNN/Money Tuesday August 5 Cisco Sings an Unhappy Tune TheStreet ISM Service Index Jumps to 65.7 ISM Planned layoffs at U.S. firms surge in July Reuters Treasuries Widen Losses, Sale 'Dismal' Reuters Global Fix for Global Problems Morgan Stanley (Roach) Why Hasnâ€™t â€˜ITâ€™ Happened Yet? CornerStone Gold Standards, the State, and Free Banking Golden Bar Â Russell Interest-Rate Moves Warn The Economy May Be Broken NYP (Crudele) Understanding Greenspanâ€™s Bond Bubble Arab News The Keynesian Myth of Consumer Confidence Gary North Tick-tock, tick-tock, say market timers CBS MarketWatch (Calandra) Several see short-term turbulence in stocks Storm season is brewing CNN/Money August and September are traditionally the market's worst months. Will 2003 be any different? The Lure of Junk Bonds: Oasis or Mirage? Business Week Hungry for yield, investors are bidding up risky issues. If the recovery doesn't live up to their expectations, the pain will be severe Rich money markets come in strange places USA Today How can Ford, GMAC, GE and Caterpillar offer rates north of 2%, when money funds barely eke out a 0.5% return? Mortgage bubble splatter Philly Inquirer Surge in Rates May Hurt Pillar of the Economy NY Times (R) Chain Store Sales Up, Competition Fierce Reuters Costco Lowers Quarterly, Full-Year Earnings Forecasts Bloomberg USA's new money-saving export: White-collar jobs USAT The Bear's Lair: Big government or growth? UPI Great Myths of The Great Depression Â Reed (PDF) Investor seeks talks over Euro Disney's debt FT As Boeing cuts jobs, clout in Wash. grows AP AngloGold to Buy Ashanti Goldfields For $990 Million Dow Jones Newmont Predicts Gold Will Reach $450/Oz On Weaker US Dollar DJ Placer Dome Says Australian Miners Overpriced DJ Severe Oversupply of Liars Silver Investor So I Was Off by a Few Trillion Business Week Michael Boskin's miscalculation on tax revenues muddles the economic debate Fire engulfs seven-story bourbon warehouse in Kentucky AP Latin America Borrowers to Delay Debt Sales as U.S. Yields Rise Bloomberg Credit boom may end in bust for UK housing market Independent Detroit complains about manipulations of Japanâ€™s currency, but the White House isnâ€™t listening CarConnection Australian survey shows continuing destruction of full time jobs WSWS Reuters to shift core unit to India BBC Greenspoon demolition dynasty ends Globe & Mail Executive leaps to death Reuters Monday August 4 US auction will test strength of bond markets Times Online The troubled bond markets will face a key test of sentiment this week when the US Treasury auctions a record $60 billion in government debtÂ Graphic Bonds had better bounce CBS MarketWatchÂ Bond rumors CNN/Money The bloodbath in the bond market is causing some apocalyptic agonizing Bond chaos hits US mortgage giants FT As interest rates rise, bond mutual funds pummeled USA Today Worst monthly tumble for taxable bonds since April 1987Â Shades of '87 CI Sick Sigma SH (OP)Â Is financial Armageddon imminent? A rout in bonds before its time? IHT Bottom Line: The end of Bradytopia UPI Tech stocks: real risk, unreal prices MSN (Fleck) Don't listen to the analysts who say rising stocks are sure to go higher. The risk of falling is greater, because unrealistic expectations are all that keep them up Stretching The Truth TomPaine "The quality of earnings for the S&P 500 from an accounting standpoint is the worst it has been in more than a decade."Â UBS US pension rules make investors nervous FT Of the 500 S&P constituent companies in 2002, 63 reported net pension income when their pensions were in deficit. Surge in loans to buy stocks from e-brokers FT NYSE Margin Debt(PDF) The size of "on-margin" balances reported by the four largest US online brokers rose by double-digit percentages in the second quarter.J Jobless Say Economic Recovery Is a Mirage AP Â Task Employers cut back on 401(k) options WSJ Commercial War: George III to Present Mises Clues Start Emerging About the Losses Since the '90s Boom NYT (R) Budget stalemate paralyzes Oregon AP Influence by Volume Washington Post Freddie Mac Lobbyist Got a Big Discount On GOP Fundraising Dinners at Galileo Men at Overwork Newsweek The good news is we are more productive. The bad news? They donâ€™t need as many of us. Show Us The Money NY Post This time the fund in question - a $700 million Norwalk, Conn., outfit named Durus Capital Management - 'fessed up to a series of "inadvertent" stock trades that look plainly to have been designed to corner the market in two obscure biotech companies in the Durus portfolio and force their stock prices into orbit. Enron's Bankers: A Great Prison Escape Business Week Merrill Reportedly Probed Patrick in Anti-Spitzer Campaign TheStreet SEC: Look Out, Aiders and Abettors WP I.B.M.'s Fragile Chip Business NY Times (R) How safe is that safe-deposit box? CS Monitor Mike Tyson files for bankruptcy Reuters Tokyo's Nikkei closes at one-month low, techs fall Reuters Is China Replacing Japan as U.S. Scapegoat? Bloomberg The Red Scare Newsweek Â China in spotlight over currency G&M American manufacturers are raising a hue and cry about supposedly unfair competition from a new Asian rival, China Debt cloud over eurozone execs' holiday Times Online As credit-happy consumers in the UK will discover eventually, you cannot keep running on empty for ever. Handsets cut in price war Times Online Auto sector headed for troubled times Toronto Star â€œA new dollar store opens every day as thrift becomes fashionable among more and more Americans...â€Â CS Monitor Weekend Edition (Aug 2-3) Runaway Trains Contrary Investor Argentina Didn't Fall on Its Own WP Timeline Wall Street Pushed Debt Till the Last Fund Fees Don't Need the Extra Padding NYT (R) (Morgenson) If You Pitch It, They Will Eat NY Times (R) â€œConscience and bottom line are not in the same paradigm in the corporate world." Real risks of running deficits Korea Herald (Shiller) Lost Control Prudent Bear (Noland) An Open Mouth G-E (Daily Reckoning) The Velocity of Money Mauldin (Cashin) Inflation or Deflation? 2 Zeal Investors Are Terribly Myth-Guided Smart Money U.S. vehicle sales down despite incentives Financial Post Ford Eyes Cuts The Big Three have tried to prolong last year's sales boom by boosting spending even more on marketing incentives, but the sales drop in July shows that freebies and other gimmicks are running out of steam. Mortgage rates creep up, worrying buyers SF Chronicle Last week, refinancing applications hit their lowest level this year and fell 50 percent from their high four weeks ago The Insider's Guide to Economic Forecasting Inc.com A well-known economist pulls back the curtain on the indicators he and other top insiders use to figure out where the economy is headed. How dismal science jolts the markets Financial Post Gold marches on Sunday MailÂ Kitco - Gold Clobbered Spitzer probes sudden departure at Merrill FT NYSE Black Eye NY Post Fallout from IBM pension ruling may hit other companies Seattle Times Alcoa: 525 in Ferndale to lose jobs if electricity rates rise Seattle Times Convergys to layoff 100 workers Salt LakeÂ Maytag to layoff as many as 50 AP Layoff plans create anxiety at Harvard's art museums Boston Globe Who will the rules affect? Knight Ridder The Labor Department says fewer than 650,000 workers will lose overtime; unions say the number will be more than 8 million. Sara Lee: Largest payment ever for ozone law violations AP Difficult year... FT Hard times for anti-terror equipment MSNBC Rise in bankruptcies fuels household debt fears Inde Bankruptcies: 10-year high Bankruptcies trigger fears that Britain is on the brink of a debt crisis that could plunge millions of households into financial ruin. European 2-Year Notes Plunge BloombergÂ Pound Up Against Euro - Real Falls Funding crisis floors Euro Disney This is London Standard Life slashes bonuses Price wars and profit woes Economist Europe catches Detroit's damaging discount disease No Relief on Japan's Isle of Pain Washington Post FSA kicking banks out of bed, demands results Japan Times Main street land values fall again Japan Times China's PC Market Sees Sluggish Growth in 2Q03 Peopleâ€™s Daily Shanghai: Increased Influx of Foreign Funds Peopleâ€™s Daily French vintages less likely to be poured into American glasses USAT Air Canada's pension plans deeper in solvency deficit Toronto Star Labor Market Woes Remain Persistent Northern Trust Friday Aug 1 Global View: Made in China UPI China is marching forward, even in a slack world economy. The country exported manufactured goods worth $326 billion in 2002. In 1980 the figure was $18 billion. Congressmen: China's currency hurt jobs in USA U.S. Manufacturers Prepare Trade Case Against China on Currency Bloomberg US warns of increasing China threat T-Times A Rising Tide for Floating the Yuan World unites to fight China's yuan CBS MarketWatch A Wink at China Inc. CS Monitor China shouldn't repeat Japan's mistake with a dramatic yuan revaluation. Facing Up To the China Challenge WP China Slams Pentagon Report on Threat to Taiwan Reuters Warning Shot Morgan Stanley (Roach) Payrolls Fell 44,000 in July; Jobless Rate Drops to 6.2% BloomÂ BLS Has a New Bull Market Begun? Mises Bond Market Delivers Equal and Opposite Reaction Bloomberg US SWAPS-Big spread blow-out on mortgage hedging havoc Reuters Higher rates may crimp rise in U.S. home prices Reuters Rising Bond Yields May Shake Up Equity Portfolios TheStreet New Layoffs Still Pouring In SafeMoneyReport Mortgage rates top 6% for first time this year USA Today Jobless losing faith in economy MSNBC Stable Prices Are No Cure-All Business Week Hardly anyone is enjoying the payoff from price stability that central bankers have promised in speech after speech over the years How Greenspanâ€™s Price Rule Caused a Recession BrookesNews The Honest Money Act Ron Paul The advantages given banks and other financial institutions by our fiat monetary system, which is built on a foundation of legal tender laws, allow them to realize revenues that would not be available to these institutions in a free market. This represents legalized plunder of ordinary people. State of Decline NY Times (R) (Krugman) Borrowing from tomorrow SF Gate The Golden State is degenerating into a banana republic. Can the nation be far behind? Bankruptcy's effects will ripple through N.C. economy AP State budget impasse could result in Alcosan job cuts, rate hike Post-Gazette IT Spending a Dud, Says Study CFOÂ Amazon: What (Really) Works IBM Loses Closely Watched Pension Lawsuit AP MCI banned from US government contracts FT Turks Fined $4B for Motorola, Nokia Scam NY Post They have sought to advance and conceal their scheme through an almost endless series of lies, threats and chicanery... Found: $2 million nickel CNN/Money It was minted sometime between 1913 and 1920 by a savvy, if unscrupulous, U.S. Mint employee, who created the coin explicitly to trigger a collector's market. Full-year record for yen-bashing J-Times Guidelines won't end deflation Yomiuri Why it may be prudent for Brown to take a long view on interest rates Inde Germany regarded as 'Nasdaq of Europe' Times Online Russia's super-rich offer to pay more taxes Reuters Ailing economy â€˜should hit the wall' Toronto Star WGC in talks to introduce gold accounts Business Standard Pentagon goes to Congress as war costs mount FT Treasuries Tumble; 10-Year Note Yield Rises to Highest in Year Bloomberg



	a