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Friday December 31 A sobering emblem for Wall Street NYT (Norris) Nearing a New Record Cross Currents America's Boom Is It Sustainable? Fiendbear Pension Agency to Take on United Funds AP Social Security Underestimates Future Life Spans, Critics Say NYT New Year's investment resolution Hulbert Don't use market orders to buy hot stocks, especially thinly traded ones that trade over the counter. The Condemned MotherJones In Ohio, and across the country, homeowners are battling cities and developers conspiring to seize their property. New York delisting threat to Hollinger Times Online New Rules for Short Selling Take Effect Monday Schaeffers Companies Try to Reduce Stock-Option Costs Boston Globe Aloha airlines files for bankruptcy AP Jail is a good thing for Martha Stewart CBSM Court Trap For Grasso NYP Ruling blocks Anna Nicole Smith from fortune AP Shining The Light On Gold Elliott Wave John Maynard Keynes Misses Out on China Rise Pesek China joins confusion surrounding Yukos unit NYT IBM Division Headed to China Has Made No Profit in 3 1/2 Years NYT Housing loan rates tumble below 3% Asahi December falls add to house price fears Guardian U.K. Pension Gap Widens by 5 Billion Pounds, Deloitte Says Bloomberg Investors warned over possible mis-selling FT Debts pile up as dishonest clients rip off brokers Australian Tweed vows not to sue so much Australian
Thursday December 30 Berkshire Gets SEC Inquiry on Income-Smoothing Insurance Policies BL Chicago Purchasers' Index Fell to 61.2 in December BL Initial Jobless Claims Fell 5,000 Last Week to 326,000 Bloomberg Dollar Weakens on Speculation Demand for U.S. Assets Will Wane Bloomberg Dollar Is Set for Longest Annual Losing Streak Since Louvre Accord of 1987 BL A Christman card from James Grant Russell Russell's take on the market, newsletters Brimelow The Anxious Index Hussman A lesser-known economic gauge is worth watching Sorta Optimistically Pessimistic for 2005 Mogambo Shades of the Dollar Standard Sennholz The Fed’s Folly Rockwell Hedge Funds May Falter and Lloyds May Be Sold Bloomberg In search of a golden egg Economist For most of the past two decades, investors have enjoyed double-digit annual returns. The next ten years look less easy AARP fights Social Security plan CNN Pentagon plans fatter cuts: NYT Reuters US corp bond sales seen flat after strong year Reuters Ex-HealthSouth exec indicted Reuters SEC Probes J.P. Morgan's Role in Canary Trades Dow Jones NASD imposes record fines in 2004 CBSM Gold Prices May Rise 5% Next Year. . BL Mineweb Watch List After a boom 2004, has the sheen come off commodities? FT Oil Prices Fall, But Up 30 Pct in 2004 Reuters AOL: Vioxx spam unseats porn Reuters Tsunami Response Offers Asia Market Clues Pesek Nikkei ends '04 up by 7.6% Reuters Murphy's Law may well exact a toll in 2005 Business Times China will shake West's strategy TT (Guardian) When the West loses faith in a falling US dollar, as is widely expected, the house of cards might come falling down Is China creating excess steel? Reuter (WSJ) Industry worries prices will fall as the country's demand slows Russia May Offer 20% of Yugansk to China National Petroleum in Swap BL Monthly mortgage deals slump to four-year low Times Online Individuals made 30% of trades in '04: brokers Japan Times China's oil sands role tests U.S. Globe & Mail Forget OPEC. The next cartel may export drinking water CS Monitor SEC steps up probe into China Life FT Deutsche: Yukos Has No Case Moscow Times Further exchanges in the Parmalat affair Economist Turkey to Shift to a One-in-a-Million Currency NYT Telecom union declares `holy war' over pensions Taipei Times Canada discovers suspected mad cow case USAT Emerging Iraqi banks betting on reconstruction IHT (NYT) Citigroup Managed Equity Funds for an Arafat-Linked Company BL
Wednesday December 29 Forecasters See Slower Growth in 2005 AP Housing Heads for Record Year -- Nov Resales Exceed Forecasts BL Realtor Fannie may sell $4B in preferred stock Reuters Gold drops as much as $11 an ounce CBSM $ Falls to Record Against Euro -- 3rd Straight Annual Drop BL Speculation Japan Will Sell During Holiday Period BL Euro Trash Slate Even drug dealers are giving up on the dollar. How to Save the Dollar Mises Short Sellers Target Two Canadian Stocks on NYSE Dorfman Broken promises: Courting disaster Rocky MN Somebody's got to pay to save the U.S. pension system. Needing Cash, Veterans Sign Over Pensions NYT Junk Bond Credit Rating Cuts Increasing, Moody's Says Bloomberg Mortgage Applications Fall in Latest Week Reuters Mortgage loan payments might pile up the risks Det FP Will a bunch of baby boomers be stuck making a monthly mortgage payment -- plus paying down a home equity loan -- well into their retirement years? When you dig into the numbers, it doesn't look good. Are we inside a bubble, looking out? Herald Tribune Calverley Amazon Area home resales close record '04 Denver Post Risky business: Real estate deals that went sour Chicago Sun Times Charged today, tapped out tomorrow? CNN The big tabs that holiday shoppers racked up on credit cards may haunt retailers in '05 Returning an item? U.S. consumers find out stores are keeping track NYT High-tech tracking devices raise concerns on privacy Washington Times Wall Street bonuses feed binges NYT Commodities lure pension cash FT US Airways Wants Staff To Work For Free Reuters KPMG told Fannie Mae of ‘weaknesses' FT BoA chairman gets $16.4M severance Reuters Fight looms over Fannie Mae chief's package FT Intel executive to sell up to $10 mln in stock Reuters Wet Seal To Shutter 150 Stores, Cut 2000 Jobs NYP Enron reaching for bankruptcy closure and former executives await trial CP Amex Gold Miners Index Review Hook Place your bets on gold's bright future Australian A golden year for bullion is tipped to continue Times Online Going for gold in 2005 AME Bulls and bubbles are about to get hit hard Barrick's Wilkins forecasts challenging year Mineweb A Year for Asia to Remember -- and Forget Pesek Official criticizes Yukos asset takeover R/B/AFP Unit's sale called "swindle of year" Oil Tycoon Slams Putin From Slammer NYP Yukos promises Rosneft lawsuit Times Online Deutsche Bank Seeks Yukos Dismissal AP S&P Gives Yukos Default Grade Reuters Record Debts in European Buyouts Spur `Credit Bubble' Concerns Bloomberg Goldman Sachs Group Inc. and JPMorgan Chase & Co. are among banks financing buyouts that have left some European companies with debt levels that haven't been seen since the days of Michael Milken... RBI restricts fund flow to curb speculative bubble Indian Express Sleepy market could awaken Yomiuri A rude ’05 awakening for Germans IHT China's economy to grow slower in 2005 People’s Daily China freezes airplane purchases Seattle PI Chinese spies infiltrate high-tech sector Ottawa Citizen DFM to begin online trading soon Gulf News Turkmens Threaten to Cut Off Gas Moscow Times Canada may stop over-the-border drug sales USAT Disaster-hit countries face big rebuilding costs Globe & Mail Quake's economic costs emerging BBC Death toll tops 67,000 CNNe
Tuesday December 28 Consumer Confidence Index Jumps to 102.3, Reaching a 5-Month High BL A damper on holiday cheer Hulbert Dollar Stumbles to New Record Low Vs Euro AP Beltway Bandits’ Storm: $615B Deficit Snow Job NYP (Crudele) The Paper Standard Grant A Word From A Dollar Bear Forbes Warren Buffett's vote of no confidence in U.S. fiscal policies is up to $20 billion Weak US dollar in 2005 will get worse before better Reuters The Bear's Lair: Writing on the wall UPI 2005 and 2006 Forecast Pollock Treasuries Lag Global Debt Market Bloomberg Junk: Not Worth It Forbes Washington Fiddling While Private Retirement Burns Bloomberg Boomer Bust: Retiring workers face health cost quagmire Det FP Troubled U.S. airlines face more cuts in 2005 NYT PCs in '05: Tough Act to Follow TheStreet Ex-Fannie Mae Chief to Get $114K a Month AP Protecting Yourself From A Housing Slump Business Week Housing market forecast: Cooler USAT Betting the house? There is a better way Shiller Americans finding cheap, disposable clothes the way to go Knight Ridder Stores Still Hope to Meet Modest Goals AP Unions deny holiday sickout at US Airways AP Hershey May Be Too Rich WSJ Pain postponed in Detroit FT Navidec discloses SEC inquiry Rocky MN Six Defendants Convicted in Tax Scheme AP Funds add $19 billion in November CBSM StreetTRACKS Gold Shares ETF collected $1.5 billion. US Federal Water Subsidies Go To Largest Farms - Study Dow Jones Funny business: 2004 had its share of sublime, ridiculous CP Tsunami Adds to Asia's $413 Bln Natural Damage Bloomberg Earthquake May Curb Sri Lankan Growth; Thailand, India to Recover BL Death toll tops 28,000; reportedly could top 40,000 CBSM China Aviation Woes Signal a `Hard Landing,' U.S. Investors Say BL Yen poised for longest advance since 1971 BL Italian December Business Confidence Declines to the Lowest in Nine Months BL Banks to offer $6bn to rescue troubled Daiei Reuters Kremlin's 'No. 2' Now Heads Yugansk Moscow Times Telecom Italia Faces Yearlong Debt Repayment to Keep Ratings BL Europe Prepares for Accounting Standards Smart Pros What If China Revalues Its Currency? Brookings PDF Why Collectors Are Crazy For Chinese Art Business Week The factory nuns of urban China Chicago Tribune
Monday December 27 Dollar Declines to Record $1.36 Against Euro as U.S., Europe Allow Slide BL Dollar Falls to New Low Against Euro Reuters Gold Up Gold Heads for Longest Rally Since Nixon, Survey Says BL Dollar Heads for Biggest Quarterly Drop Versus Euro in More Than Two Years BL Gold Rally Brings Back The 70’s NYP Cautious Optimism NYP (Byron) Risk Management is Generous Hussman Sales of high-risk, high yield bonds set record Bloomberg Stock buybacks see growing skepticism USAT Are we inside a bubble, looking out? Herald Tribune No Future for Textiles in 'City of Looms' Reuters “While U.S. producers have been living in fear of Jan. 1, 2005, China has been increasing their textile and apparel industries dramatically. They've purchased 65 to 75 percent of all the textile capital equipment sold in the world in the last three years." Spitzer: No letting up Newsday Tech companies face another difficult year FT Airlines' WoesMay Be Worse in ComingYear NYT WMT Sees Dec Sales at Mid-Range AP Sharper Image Cuts BL Toys ‘R’ Bust Die-hard bargain hunters disappointed the day after Seattle PI China and the U.S. should spare the world a cliffhanger IHT (BL) Foreign banks receive licenses for yuan deals IHT (BL) HSBC set for Asian consumer loan push FT Slide in house prices gathers pace Independent 'Worst Christmas for 25 years' as store sales drop Guardian FSA under fire over split trust settlement Times Online Even the cowboy boot now sports 'Made in China' CS Monitor China listed as first for port throughput in 2004 People’s Daily China Army Will 'Crush' Any Taiwan Independence Move Reuters
Thousands dead after SE Asia quake CBSM
Holiday Edition (Dec 24-26) "Trouble Ahead—Trouble Behind" PIMCO Last-Minute Holiday Shoppers Hit Malls AP $ Drops for 10th Week on Speculation ECB May Not Stem Euro's Advance BL Euro Rises to Fresh High Vs Dollar Reuters Euro's rise raises 'catastrophic' fears Bloomberg Hedge Funds, Once Daring, Trim Their Currency Bets NYT Is U.S. house-price boom at a risky point? Norris Merry Christmas, Happy Holidays PBear (Noland) Annual review of the 'Stupid Investment of the Week' winners CBSM Still a believer in 'Dow 36,000' MSN Goldcorp Investors Choose Between Takeover Offers From Glamis, Wheaton BL Program Trading Averaged 59.6% of NYSE Volume during Dec. 13-17 NYSE Can China pull off a managed economic slowdown? CBSM China Invests Heavily In Sudan's Oil Industry WP South Korea's Fourth-Quarter Consumer Confidence Falls to a Four-Year Low BL After The Bubble, A Bath Financial Mail
Shipments of Non-Defense Capital Goods Indicate Slowing of Capital Expenditures NT PDF
Thursday December 23 Cheap Money Trumps Sea of Negatives for Bonds Baum Dollar Falls to Record $1.35 Per Euro on Speculation U.S. Won't Stem Slide BL Gold futures climb on dollar weakness CBSM Weekly U.S. jobless claims rebound ~ Confidence Up Leading Index Falls U.S. Durable Goods Orders Increased 1.6% in Nov BL Census U.S. Nov. income outpaces spending CBSM BEA Euro Approaches Record High R Speculation Bush Policy Won't Change in 05 B France´s Gaymard says dollar fall could turn ´catastrophic´ AFX Merrill, Top Currency Forecaster, Expects Further Dollar Drop Bloomberg The Economy: Five Wild Cards For 2005 Business Week Headed for a down cycle CBSM Optimism is Ripe In The Markets Cross Currents Something is Rotten in the State of Large-Cap Techs Schaeffers Derivatives Update Gold-Eagle Hedge funds go mainstream CBSM End the Government-Sponsored Cartel in Credit Rating AEI The Specter of Deflation Rockwell Scotiabank commodity price index climbs to record level in November CP CRB Steel prices soar 66% in a world market 'gone mad' USAT Unhappy new year seen for steel users MJS (R) Rising costs force choice on library Boston Globe California's prices prompt exit strategies Chicago Tribune The Bottom Line on Overhauling Social Security NYT Private accounts: The 'spicy sauce' to sell deep benefit cuts EPI Credit card slipups get even costlier Det FP Fannie Mae Turmoil Continues After Ousters AP SEC to probe Fannie’s Sarbanes compliance FT Fannie Mae ex-officials' severance scrutinized USAT The battle between Fannie Mae and its government regulator is far from finished. Newmont Responds to The New York Times Article of December 22 PRN Martha Stewart Calls for Sentencing Reform -- Prison Food 'Bad' AP Rambus shares fall 15% SFG EU rejects Microsoft's appeal on antitrust sanctions Seattle Times Gates buys $319 million Berkshire stake Bloomberg GM to offer more early retirement deals AP SEC Probes Marsh Execs’ Stakes in Co. Funds NYP Taser defends Kerik on stock sale Reuters Kerik resigns position with Giuliani firm AP FedEx hit for $1.5M CNN Coke to pay worker $3m after shooting ABC Ex-Fischer top exec won't meet with SEC Rocky MN Chefs and truffle lovers lament the dollar's stumble NYT The Big U.S. Retailing Stocks Look Overvalued BL Retail sales fail to ignite Sac Bee Online holiday sales sizzle CNN More consumers give new cars as gifts USAT Bosses Play Holiday Grinch USAT Crudele Xmas fever sinks "New Europeans" deeper in debt AFP China: Christmas dinner prices hard to swallow Xinhua Mexico: Tree Invasion Washington T From unsold to underwater HO Average Wall Street bonuses for 2004: $100,400 Newsday Here's How You Can Get a Bigger Bonus Next Year Bloomberg Global Bonds: A Ticking Time Bomb? BCAR Russia gets Yukos unit CBSM Acquisition called 'a blow for rule of law' in Russia Rosneft to Acquire Yukos, Cementing Putin's Control Over Industry BL Putin takes control over an industry that is second only to Saudi Arabia in crude production. Russia's Putin: State To Encourage Oil, Gas Exploration DJ Bank minutes fuel hopes of rate cuts Independent No bubble seen in market, says FM India Times Australian Dollar Declines After Price of Metal Exports Weaken Bloomberg Dampening Property Speculation Korea Times It is said that the total valuation for land in Korea is six times greater than all the land in Canada with the average land price being eight times more expensive than in France. Gold business offered to individuals People’s Daily Taiwan Ban on U.S. Apples Hampers Growers AP China Emerging as U.S. Rival for Canada's Oil NYT Shell and Chevron suspend oil exports of 134,000 bpd from Nigeria AFP Pipeline behemoths square off Financial Post Siemens warns of 'painful cuts' for employees AFP Miniature Silicon Valley hits reality SMH Hong Kong fades under China's smog CS Monitor Arafat's investments included N.Y. bowling alley Bloomberg Bradford & Bingley fined over precipice bond sales Independent Robbers Net $42 Million in Belfast Heist AP Don't laud these vile bank raiders Don't bank on insurance Times Online As financial institutions keep telling us, it pays to insure. So why was National Bank not externally insured against the theft of Ł22m?
Wednesday December 22 Dollar Falls, Gold Rises AP U.S. Economy Grew at 4% Rate in Third Quarter, Final Report Says BL BEA Fannie Mae Fires Raines BL  Raines: “I am retiring” Fannie Franklin Raines's Lost Gamble Business Week Fannie Mae's chairman and CEO bet that his political prowess could protect him from an accounting scandal. He was wrong Chronology: Fannie Mae's Accounting Crisis AP Russell: 'Such a strange market' Hubert Consumer Price Index Is Not Your Father's CPI Baum Show Greenspan the Door, and Hello Santa LA Times (R) There's a rocky road ahead in 05 CBS 04 In Pictures NT 04 Scorecard CSFB Gold: Four More Years ~ Musings: China's Contradictions Ing Willie What Determines Interest Rates? AEI (Makin) When all is said and done, it is the search for ways to store wealth that drives interest rates and not some hazy notion of unsustainable twin deficits. ? Economy's Scant Use of Capital, Workers May Slow Fed Rate Hikes Bloomberg Three years later, most states still not recovered from recession JobWatch Colorado's growth faltering ~ Bankruptcies break new ground  Rocky MN Hedge Funds: Healthy Risk? FallST (EW) Mutuals outperform hedge funds FT Hedge Funds Find An Escape Hatch Business Week Donaldson recently accomplished a major feat when he got the agency to pass a controversial rule forcing hedge fund advisers to register by 2006. Unfortunately, just weeks after the SEC announced the new rule on Dec. 2, many hedge fund managers have already figured out a simple way to bypass it. H&R Block Fined $500K NYP For helping a hedge fund customer hide "market-timing" trades at the expense of other investors. "Informed" vs. "Ignorant" Ignorance... EW Wall Street wary on Social Security NYT GM's Debt Crisis Slate If its bonds are junk, how are the cars? Nortel Gets Court OK to Delay Meeting Reuters Seattle Times' memo says staff cuts coming Seattle PI Schaeffer on Charts: Treacherous Tyco Schaeffers Microsoft Loses Court Petition to Suspend European Union Antitrust Order BL Kerik Ally Borrowed Big $$ For Club NYP Chinese mobile phone growth soars 20% Times Online Japan's Exports Increased 13.4% in Nov; Trade Surplus Narrowed BL IMF tells Brown to rein in spending Guardian Putin Says He Knows Mystery Buyer Moscow T Hints at China alliance FT Putinâ€s â€Gray Cardinal†Sechin May Be Behind Baikal Finance — Analysts MN US issues warning on Yukos sale Telegraph Chinese puzzle in auction of Yukos Guardian Parties don't last for ever, over-spenders warned TheStar (SA) Financier fined ÂŁ290,000 over market abuses Times Online China dairy executives detained IHT (BL) Sony probe reveals pirate network FT Iraq: Ten More Years? Independent U.S. Contractor Pulls Out of Reconstruction Effort in Iraq LA Times
Tuesday December 21 U.S. stocks climb; blue chips at 3 1/2 year high CBSM Putin: Yukos Auction Complied With Law AP Stocks Expected to Rise on Bank Results AP Economic outlook: rising stars and black holes FT Outlook 2005: More work for consumers next year IBD The Bear's Lair: World capital of Ponzi UPI Washington DC, whether or not the world capital overall, is unquestionably the world capital of Ponzi financing schemes, swindles that work for a year or two and then deluge everyone in losses. Goodbye 2004, Hello Bubble! Rostenko Flow-of-Funds Stocking Stuffers NT PDF How Nos. Can Hurt Real People NYP (Crudele) Look Both Ways: Real-Estate Reality CFO Was November the month in which the housing boom started to go bust? Rate cycle turns against banks in 2004 CBSM A case against privatizing Social Security Farrell Not the Whole Story, But a Great "Outline" EW Fannie's Financial Cookie Jar CS Monitor When the world's largest buyer of home mortgages - Fannie Mae - cooks the books on reporting its earnings, it runs the risk of sending shockwaves into financial markets. US junk bonds reach record level FT NYSE Trader Probe Widens NYP Enron Bankruptcy Advisers Seek $780 Million in Fees, Most Ever Bloomberg Wall Street's most famous bull for sale CNN Barrick Says Gold May Top $450 Through 2006 on Dollar, Supply Bloomberg Forecaster Sees Gold Averaging $472/oz in 2005 Wood Bank of China is approved to launch individual gold trading Interfax Significant Characteristics of Bull Markets and Gold and Silver GE Taylor On US Markets & Gold ~ Maund Yukos misses oil shipment after sale of Yuganskneftegaz IHT (BL) The chief executive of Yukos, acknowledged that the $9.35 billion government sale of Yuganskneftegaz was an "irreversible act." But he said that Yukos would not turn over shares of the division, Yuganskneftegaz, until the buyer, Baikal Finans Group, revealed its identity and backing. Yukos warns of oil output crisis Guardian Moscow Times Japanese managers trim U.S. holdings Reuters Gold row exposes German tensions FT "The Bundesbank will have to explain why it alone of the 15 central banks in the gold agreement is not exercising its sale option, despite the high gold price” French Consumer Spending Rises the Most in 5 Months on Automobile Sales BL Costly housing--a real bubble? Sina Bleak midwinter for home loans Guardian Growth slows to three-year low amid continued house price falls House sales expected to slow Canadian Press City warns of tax rises as public deficit soars Times Online Police charge Philip executive Globe & Mail CSFB banker convicted of insider trading Guardian False data found in 10% of reports Asahi The high rate of incorrect data has set off alarm bells about the transparency of corporate Japan at the very time that businesses are turning to the stock market to meet more of their fund-raising needs.
Bush Considers Slowing Growth in Defense Spending Reuters Bush Foresees a Deeper U.S. Role in Iraq LA TImes
Monday December 20 Retailers See Little Late Holiday Buying AP Credit card bills worry many AP Is the Dollar Really Overvalued? Hussman Wall Street's hopes for a sustained capital spending boom in the U.S. anytime soon are vastly exaggerated. Interest rates and deficits NYT Loss of trust in dollar could be euro's gain Independent (King) White House sees slower job growth Reuters Privatizing Social Security should scare you MSN (Fleck) The idea assumes anyone can invest successfully -- and threatens to destroy the safety net for which Social Security was originally created. Bush's Social Security Plan Would Fix Nothing Berry Social Security: Five Burning Questions WSJ Opec cuts could push oil back above $50 mark Observer With new year come old worries CBSM Everybody thinks stocks are going up Barron’s Day Trading Makes a Comeback Reuters So You Wanna Trade Currencies? WSJ Novice traders with as little as $250 are opening so-called mini-accounts and controlling as much as $50,000. And they are diving into currencies at historic highs. Home Equity Lines -- Convenient, Risk Reuters Wall St. Fees Show Merger Business Rankings Manipulated by Phony Deals BL A few embarrassed brokers FT Perry's tactic has provoked real rage among the other Mylan shareholders, and profound embarrassment on the part of his prime brokers. United stirs up a hornets' nest on pensions FT Fannie Mae Board Meets to Talk Shake-Up AP Pharmos Shares Drop on Poor Trial Data AP Fed’s Double-Take (Kerik) NYP Diet experts declare Atkins craze is over AP U.S. Rogue Nation Image Hurts Dollar in Asia Pesek US capital swells Asia hedge fund coffers FT China grows in superpower status Taipei Times Chinese investors take a shine to gold Reuters Bundesbank to sell 8 tonnes of gold to German finance ministry IIA Bundesbank said it has no plans to sell the rest of its quota for this year... Fears grow of damage to Japan's economic recovery FT Japan’s External Stimulus: Is It Really Over? CSFB PDF CEOs Pessimistic Over Economic Recovery Korea Times Australians fear end to dream economic run in 2005 AFP Ten Years, and a New Mexico Business Week In the decade since its worst financial meltdown, amazing progress -- economic and political -- has been made. Still, familiar dangers lurk Mexicans still hungover from 1994's tequila crisis FT Yukos unit fetches $9bn at auction BBC Yukos auction raises political stakes Guardian Singapore Advises Caution in China Case AP God bless us every one, but who will pay our pensions? Independent Payoff time on Vodafone's gamble? IHT Hong Kong to Devise New Plan for Property Trust IPO After Legal Challenge BL
Gold May Rise for 9th Week in 10 ~ US Notes May Fall BL
Weekend Edition (Dec 18-19) The Week Ahead: Social Security and Treasuries Insecurities CIBC PDF Retailers brace -- and pray -- for last-minute rush CBSM WMT Our disappearing dollar PTR Weak dollar may threaten balance DMN The Debt Bomb FSO Whoops! It's 1985 All Over Again NYT Fannie's Fans Must Be in Denial Morgenson The Chinese Syndrome NYP Bush Considering Bernanke As White House Economist Reuters Some Republicans have been pushing CNBC commentator Larry Kudlow... Bulk freight brokers start to jump ship FT Since reaching an all-time high on December 6, the Baltic Dry Index, the leading benchmark of bulk freight rates (which exclude volatile oil shipments), has fallen 19 per cent. The Canary in the Coal Mine Mauldin Dilly-Dally Monetary Management Noland Speculators seen stirring up oil market volatility CBSM Oppenheimer’s Gheit: “I am absolutely convinced that the prices are being manipulated” Trading the Oil Bull 2 Zeal Forecast 2005 Chapman Private Investment Accounts: a non-solution to the Social Security Crisis SafeH The Scary Part Of The Gold Price Curve Gold-Eagle The Latest Chapter in Fannie Mae's Scandal Saga EW Fed tightens against housing bubble fears Inman No Wage Progress Despite Three Years of Recovery EPI So, what have investors learned from the great dotcom crash? Sunday Herald Corporate bond investors focus on GM FT Toy Shortages Seen at Some Stores AP Amex sees $120M charge; axes 2,000 Reuters Ceridian Probed; Finance Execs Retire CFO Martha sells $8 million in stock Reuters Milken Sees the Classroom as Profit Center NYT LaBranche may face NASD discipline CBSM Japan braced for new year of economic woe Scotsman China's housing price hike reasonable? China Daily I'm an investor, get me out of here Times Online Some shares go out of fashion so quickly, you can only wonder what the initial attraction was. 'Hot money' a scapegoat for price gap China Daily Russia to hold Yukos auction despite US ruling FT Dollar's dive takes others with it IHT The Oil and Gas Industry 2000-2004 Kommersant Bin Laden Tape Urges Stopping Oil to U.S. AP
Friday December 17 Oil futures up nearly 14% for the week CBSM Fed calls for fiscal discipline Reuters November Minutes Pfizer Finds Celebrex Heart Attack Risk AP S&P Cuts Pfizer to Sell BW Crude Oil Prices Rise Above $45 a Barrel AP The Search For Yield Corrigan PDF November Consumer Prices Rise 0.2%; Core Rate Rises 0.2% BL BLS Where We Stand Comstock The public has actually put significant amounts of cash into equity mutual funds since the 2000 peak. We expect to see much greater liquidation before this bear market comes to an end. Irrational exuberance redux? CBSM Don't be suckered by investor euphoria Feds ready to oust Fannie Mae bosses CBSM It only looks crazy in hindsight CBSM They will not ring a bell to signal when this craziness is about to end. It will just end -- like that. Put 'Er There Schaeffers If these put positions are going to be replaced in the next few months, the market will endure significant downside pressure... Experts grim on economy Boston Herald Descriptions of long-term trap becoming increasingly accepted TD Quarterly Economic Forecast TD PDF Republicans tempted to cash in on wide trust in Greenspan FT White House May Pick Bernanke WP Rubin Wins Some, Loses Some on Deficit Warnings Bloomberg If the bubble bursts... CNN Real estate: If it is a bubble, and it bursts, how at risk are you? Carmakers braced for spiraling steel shortage FT In Praise of Shoddy Products Mises SEC chief faces water that's rising Norris War funding request may hit $100 billion AP Buying Into Failure NYT (Krugman) Future of Fannie Mae Executives Unclear AP Assessing What Will Now Happen to Fannie Mae NYT Spurned Glamis launches Goldcorp bid Mineweb Hershey’s Kiss-Off: Prices To Rise 6% NYP Halliburton to cut jobs and perks at KBR FT City Joins Door Probe NYP Thain warns on SEC price-protection plan FT It would be "very difficult ... to maintain the auction process" if the proposal was adopted. State may downgrade economy Japan Times ‘China factor’ behind US dollar woes New Straits Times Investors Got Asia Right in 2004. And 2005? Pesek Stop dollar's fall, Brown tells US as deficit hits $165bn Guardian Euro Rises Against Dollar as German Business Confidence Gains BL Russia Seen 'Heavily' Managing Ruble in 2005 Moscow Times US Dollar worthless now? India Daily The problem is that if dollar collapses, there is nothing that can stop a catastrophic worldwide depression. Canada Seeks Details on IMF Gold-For-Debt Plan Reuters Vietnam's Big Cities Prepare for Gold Trading Centres VNA Finance chief fined for tip-off to analyst Times Online City attacks FSA over costs burden Times Online GM unit sues Chinese automaker in patents row AFP U.S. Judge Issues Order Halting Sale of Yukos Unit Bloomberg Report: Gazprom Loan Put on Hold Moscow Times Parmalat is suing 45 more banks NYT Gold, silver produced from industrial waste Kyodo
Thursday December 16 Faith In Fannie Ackman Philly Fed Report SeesContinued Growth PFed JClaims drop ~ Housing starts slow (Census) ~ Record current account gap R Wall St. weighs deals, bin Laden CNN Dollar Eases Toward Record Low Vs. Euro Reuters Bush's 'strong dollar policy' comments fall on deaf ears USAT Greenspan ‘rejected’ offer to become US Treasury chief FT Difficult year ahead; Business slowdown, bear market may be in cards DaytonD We Ain't Got No Inflation Janszen Greenspan is Baffled By Economic Stats on Inflation Crudele America—Who Needs It? Slate The Evolution of the Credit Default Swap Market Pimco All the Success, Intelligence, Experience, and Street Smarts on Earth... EW If even a few of the allegations are true, Kerik really is a rogue. State's housing bubble is bound to burst MBee Editorial: Beware the bubble SacBee Housing prices vastly exceed incomes The Rise In Housing Prices Bartlett Are Home Prices The Next “Bubble”? NY Fed PDF Congress, Hooked on Foreign IT Workers, Slips Deal into Huge Spending Bill H Fannie Mae Failed to Comply With Accounting Rules, Must Restate BL SEC Fannie Mae Warns on Capital Position Reuters Fannie Mae Shares Down on SEC Review AP A Half-Billion Ends Time Warner Probes CFO Johnson & Johnson to Buy Guidant for $25.4 Billion to Gain Heart Devices BL SEC Enters the Fray in Iraq CFO Wal-Mart Purge Cloaked in Mystery NYP Who Exploits Whom? Mises PART 2: A monetary coup d'etat Asia Times China's Nov. Fixed-Asset Investment Growth Slows to 24.9% BL The Euro Currency War Gold-Eagle Europe winces at currency's rise CS Monitor Brazil Raises Benchmark Lending Rate to 17.75 Percent to Slow Inflation BL India Has Much to Gain by Dumping Dollar Link Bloomberg Sweden: Deflation Alert Morgan Stanley Fidelity pulls out of Child Trust Fund Times Online Millions 'to lose textile jobs' BBC
Wednesday December 15 $ Drops: Purchases of U.S. Assets Increase at Slowest Pace in Year BL Treas “People were expecting it to be worse than last month, but nobody was expecting it to be below 50” Oil Futures Rise Toward $44 a Barrel AP Gold futures climb to one-week high CBSM U.S. Treasuries Remain Higher After New York Fed Index Rises BL NYFed Dollar's Fall Is a ‘Wake Up Call,' IMF's Rajan Says Bloomberg Debt and the dollar EPI The United States damages future living standards by borrowing itself into a deceptively deep hole The ghost of crashes past Economist Your columnist signs off, wishing one and all a merry Christmas, but forecasting a not-so-happy 2005 for the financial markets Economic Summit: Fiddling While Rome Burns CEPR The Saga of John Law and Richard Cantillon Mises Rubber checks that don't bounce Insight A Picture of Options-Related Resistance Schaeffers Treading Water with the Fed EW Fed May Signal Shifts With Earlier Release of Meeting Minutes Bloomberg “It has been so long overdue that it boggles the mind” U.S. Municipalities Moving Toward a Finance Crackup Bloomberg Retirees' health costs jump for third year Boston Globe Born Suckers Blodget The greatest Wall Street danger of all: you. Bearish View Spurs Eric Sprott Dow Jones Icahn buys up Blockbuster shares; shares rise IBD Mortgage Applications Fell Last Week MBAA Trump: Bigger than Coke or Pepsi? Business Week “The brand has become the best brand.... I think it's a bigger brand now than Pepsi Cola or Coca-Cola.” Media not as fired up about 'Apprentice' NY Daily News Trump's new book will awe, and bore AP Donald Trump Books: 1 - 2 - 3 - 4 Amazon The Talking Donald Trump Doll ~ TRUMP The Game A The Smell of Bankruptcy: Get Trump, the Fragrance! Bill Gates elected to Berkshire Hathaway board Reuters Nortel sees lower sales in 2004 CBSM Chartered Semi Lowers 4Q Outlook AP Merck ups number of job cuts Reuters SEC Questions Tyco on Iraq Program AP Sprint, Nextel in $35B merger CNN Accounting Bag of Tricks Produces Another Scheme in Kmart Case AP Credit Ratings Get Poor Ratings CFO Auditors face stiff penalties FT Gifts to Fidelity Employees Attract Investigators NYT German probe targets Citigroup FT Hospital Attacking Big Mac WP 220 IPOs have raised more than $41 billion this year CFO Las Vegas Sands A Back to The Basics 321 (Aden) Bishop ~ Butler ~ Rostenko ~ Lee China sees gold-buying surge to hedge against declining dollar - report AFX Investors flee crumbling home market SMH (FreeR) Investors have fled the Sydney property market while sales have fallen to their lowest level in more than 15 years... Property investors warned Advertiser Australian banks face life in the slow lane Stuff BOJ a Role Model for ECB? Okay Stop Laughing Pesek Japanese Manufacturers' Confidence Falls to 22 Bloomberg BOJ to sell FBs to cool money mart Japan Times Recession fears as Australian economy slows down ABC Morgan Stanley warns of recession Korea Herald Germany and France get reprieve IHT Taiwan must beware dollar's slide Taipei Times China Puts Plans For World Domination On Hold Forbes (Ackman) Hopes sour for China's bad debt IHT (BL) China Gets First Foreign Bank Chairman AP Air China makes strong debut in HK CBSM Chinese PC maker puts Dell on notice Asahi Brazil Money-Laundering Report Urges Charging Ex-Central Banker Franco BL Yukos files for bankruptcy in U.S. CBSM U.S. trims softwood lumber duties Globe & Mail Love and money reshape family in China CS Monitor
US Trade Gap: Still Not A Pretty Picture CIBC PDF
Tuesday December 14 FOMC Statement FED With underlying inflation expected to be relatively low, the Committee believes that policy accommodation can be removed at a pace that is likely to be measured. Fed expected to deliver fifth quarter-point interest hike AP Industrial Production Rose 0.3% in Nov.; Plant Use 77.6% BL FED U.S. Trade Deficit Widens to Record BL Census ~ Treasuries Torn How The Government Pulls The Wool Over Our Eyes NYP (Crudele) The Dollar Is the "Wild Card" Business Week The Bear's Lair: What's the sucking sound? UPI Musings of a Crackpot FSO Global View: A quiet turning point UPI (Campbell) The Short View Coggan End of An Era? Cross Currents Can You Spend Your Way Back Into the 1990s? EW Stock Option Values Decline Sharply Between 2001 and 2003 PRN US small business optimism at 20-year high in Nov. Reuters Banks' management of hedge fund exposure seen flawed Reuters Krispy Kreme Misses 10-Q Filing Deadline AP Car Glut Has Repercussions for Visteon and Delphi Bloomberg Airlines Expect $5 Bln Loss in '04 --IATA Reuters State’s grocers show slim profits Denver Post Cardinal Health to Eliminate 4,200 Jobs AP E&Y Confirms Probe Related to PNC CFO Trump Shareholder Wants Better Deal NYP Blockbuster to End Late Fees in 2005 AP ETFs see $3 bln inflow last week CBSM ETFs: Everybody’s Favorite Trade Has A Dark Side Newman NYSE to use custom IBM palm PCs AP 3 Canadian funds settle market-timing inquiry BL Internet database to show U.S. judges' finances LV Sun Kerik's nanny least of his problems AP US output growth 'to continue' FT NY Fed The silver lining in gold's fall CBSM Gold firms being conservative in asset valuation, says PwC survey CP The Dollar: Asia Groans and Bears It Business Week Foreign Investment in China Rises 22% BL China facing pensions crunch TheStandard Fine-tuning Currency Intervention MS (Xie) Emerging Markets Watch - No Times For R&R Pimco The rental boom that is in line for a bust FT Australian Business Confidence Falls to 6-Month Low on Currency BL China: "strong dissatisfaction" with anti-dumping ruling on furniture PD Small firms pension pressure Times Online Stock Exchange faces foreign takeover after German bid Guardian Jasdaq joins the big boys Asahi Creditors threaten to oust CAO chiefs FT Yukos Accused of 'Filthy Theft' Moscow Times 'A Climate of Fear' Threatens Economy Moscow Times Tariffs on Scrap Irk U.S. Steel Producers Reuters Nippon Steel to pay double for coal next year FT Tracing Pinochet's millions to a U.S. bank IHT (NYT)
Monday December 13 Retail Sales up 0.5% (ex-autos) - Experts Still See Ho-Hum Christmas IBM Cen Fed's Work Remains Unfinished TheStreet CBOT Fed Watch The yield on the 10-year Treasury note has fallen 42 basis points to 4.16% since June 29, the day before the first rate hike. Central Banks Short-Circuit U.S. Savings? Reuters Dollar Ends Three-Day Rally on Speculation Deficit Will Widen BL Recipe for a rough ride in '05 MSN (Fleck) Volatility, Complacency, and Emerging Risks Hussman The Paradox of Trade MS (Roach) 2005: Year of the weak dollar AFP A weak dollar may be good, but not for long CBSM (Kilgore) Free-floating currencies feel pain from dollar FT Don't scapegoat China for a weak dollar and deficit TT The Neutral Zone Taylor Low US interest and savings rates don't jive with big deficits Reuters Why young Americans are drowning in debt MSN Less bang for the boomers CS Monitor Icahn Files $1B Lawsuit Against Hedge Fund for Stock Manipulation NYT Hedge funds may be hot, but the costs aren't cool SOS Owners risk homes to invest Det FP Borrowing to buy stocks could be fiscal suicide House flipping' fueled by Internet sales target of state, feds AP Papers' ad forecasts predicting caution Denver Post Capital expenditures slow as year ends USAT Low-carb slump leaves food firms in flux AP ”It was a little bubble that had zero staying power”` About 800 Colo. Beef Packers to Lose Jobs AP Grocery workers fear looming insurance crunch RockyMN PeopleSoft Relents, Agrees to Oracle Bid Reuters Airline debt is in the spotlight FT Fiat and General Motors to square up in Switzerland AFP Worst CEO: Krispy Kreme's Scott Livengood CBSM Feds Eying Fedility Traders’ Family Ties NYP Bombardier Chief Executive Tellier Resigns After Two Years; Shares Plunge BL Kmart not alone in allegations of improper booking AP IBM's PC saga was two decades in the unmaking ST IBM spurns public with 'closed' conference call AP Inventor rose high — until world changed Seattle Times Kansas begins overnight trade FT Gold tipped to reach a 20-year high Times Online Williams defends GLD ~ Gold not dependant on dollar weakness Mining Mx China becoming an important bellwether Harding China's Retail Sales Increased 13.9% in November BL Textiles makers dig in against 05 "Made in China" threat AFP “We are talking about 600,000 US jobs that could be lost iN the next few years” China announces increased export tariffs on textiles PD With its buying binge, is China shopping for security? NYT Jewelry becomes hot item of consumption in China PD Cloud hangs over Air China flotation Guardian IPOs set to resume in China BL Is the sun about to set again on another Japanese dawn? Times Online On three previous occasions since Japan’s asset price bubble burst at the start of the 1990s, hopes of an economic renaissance have been dashed. Global economy set for bumpy ride in 2005: EIU AFP Experts: S. Korea headed towards recession UPI Tax hikes could be recipe for recession, analysts say Japan Times Threats remain to our economic well-being Independent (King) Crisis warning from Bank as lenders add to risky investments Independent BoE Cash woes force raids on savings BBC Argentina's miraculous recovery owes little to the IMF Guardian YUKOS Sell-Off Sparks Top Investor Threat AP LSE rejects approach from rival CBSM Iraq's debt will be serviced, eventually China to crown first "Miss Plastic Surgery" Reuters Plastic surgery clinics have mushroomed in major cities in China. China's boy trouble G&M China may take gamble TheStandard
Dollar May Extend Rebound ~ Gold Prices May Decline BL Treasury Investors More Bearish After Drop in Yields BL
Weekend Edition (Dec 11-12) Under Greenspan, Fed Loses Some Mystery AP Retail Sales Slowed in November: U.S. Economy Preview Bloomberg Wal-Mart says softness continues CBSM Christmastime Consumerism WP OPEC May Consider Further Cuts AP Supply Exceeding Demand B Major Carriers May Fail in 05 NYP Are Options Seducing Directors, Too? NYT (Morgenson) Martha, Sirius Stocks Are Nothing But Tall Tales NYP Greenspan at the Bat (Beyond Next Week’s Rate Hike) CIBC PDF Greenspan: Be Careful What You Ask For Mauldin A New Illusion: The Falling Dollar Richebacher Diverging Fortunes, Tied to the Dollar NYT Debating the Dollar (Part I) MS (Roach) Part II The almighty dollar looks mighty vulnerable IHT Greek Myths Expose Achilles' Heel of Europe's Common Currency Norris GLD: Incompetence or "Told You So?" Bugos More on GLD 321 Gold ETF may be launched in Hong Kong next year Business Times Back to the Basics Aden The Relative Dollar and Gold 3 Zeal Future is still bright for gold investors Times Online Betting on gold pays off SacBee Dollar Daze! Chapman Q3 2004 Z.1 “Flow of Funds” PBear (Noland) Fewer Bonds and More Questions for Municipals in '05 Bloomberg Housing: Growth's Shaky Foundation? Business Week The 2004 "Spend Like A Drunken Sailor" Award FallST (EW) Suit Filed to Block State Pension Bonds PLF OPEC Expects Oil Prices to Recover as Cuts Are Made Bloomberg Ali al-Naimi: “Don't ask me about the oil price fall yesterday, it was nothing” For A Change, OPEC Is Worried Business Week One Energy Crisis After Another Wanniski Social Security Reform, With One Big Catch NYT Tech Insiders Are Abandoning Ship BCAR Sirius Fans in Need of a History Lesson TheStreet Interstate Bakeries Posts 1Q Loss AP Still unsure if, when it will file 10-K I Philip Morris Raises Prices on Cigarettes AP Omnivision focus of SEC inquiry CBSM US ex-financier jailed for fraud BBC Hedge fund popularity growing at a quick clip RockyMN CFTC: No manipulation of silver market Mineweb Reports on China's selling of USD assets groundless People’s Daily China to Resume Stock Sale Approvals After Four-Month Freeze BL Wal-Mart, Carrefour Plan China Expansion as Retail Market Opens Up BL Mexico Central Bank Unexpectedly Raises Interest Rates BL US trade war to flare up again as Airbus takes on Boeing Times Online China blames speculation for $500m CAO scandal FT Extension AP Soldiers of Fortune Spiegel Now the bonds cast their magical spell on speculators and soldiers of fortune, and for a good reason: The loans have to be repaid in "gold coins from the United States, with the standard weight and fineness applicable and valid on Oct. 15, 1924."
Friday December 10 Dollar Posts Its Biggest Weekly Advance Against the Yen Since February BL Consumer Sentiment Improves Reuters OPEC could bite stocks CNN U.S. November Producer Prices Rise 0.5%, Core Rate Up 0.2% BL PPI Dollar Rises; European, Japanese Officials Complain About Slide BL The Big Picture Comstock Borrow, Speculate and Hope NYT (Krugman) (R) Flimsy foundations Economist In the past three years, the total value of residential property in developed economies has increased by an estimated $20 trillion, to over $60 trillion. Granted, that increase is partly explained by the decline in the dollar; still, it is double the $10 trillion by which global share values climbed in the three years to 1999. Is this the biggest financial bubble in history? Bush rules out tax hike for Social Security AP White House Text Save or Else Mises Buddy, can you spare a dollar? Independent Report Expects High Oil Prices for Decades AP EIA Saudi Arabia Backs a Reduction in OPEC Oil Production to Stem Price Slide BL Why NOT "Bet the House on the Stock Market"? EW No individual can stop the train wreck that's coming, but you don't have to be on the train. Delphi to Cut as Many as 8,500 Jobs as Auto-Parts Customers Reduce Output GM to cut 12,000 jobs in Europe CBSM IBM Halts Pension Plan for New Hires AP P&G boosts price of Folgers by 14 percent AP Mylan Could Use King Restatement As Out AP Athlete's Foot filed for bankruptcy NYP Blow To Grasso; Case Stays in NY Court NYP CEOs and their Indian rope trick Economist The link between pay and performance is weak Martha's reality show? NYT "Millions of people feel like Martha got a raw deal" Diamond sale raises millions for Frankel's scammed investors Boston Herald Some wacky data from the Census Bureau MSNBC Program Trading Averaged 57.0 Percent of NYSE Volume NYSE Central banks might not meet 500t/year ceiling Mining Mx Hedge-Fund Mania Hits Asia Business Week Individuals and even governments have started piling into the risky vehicles. Hedge fund industry grows 250% over last 3 years AFP China and the global economy CSFB  PDF China's Foreign Trade Volume Exceeds US$1,000 BLN, Jan-Nov AP China's Consumer Prices Rise Less Than Expected BL Japan's Wholesale Prices Rise for Ninth Month on Surging Oil, Steel BL S Korea rates held as growth falters FT China, Japan holdings key to dollar Jang Fudging numbers in Europe Norris In Europe, it is the governments that stand accused of manipulating the numbers. French Oct Industrial Production Declines 0.7 Percent as Euro Advances  BL How Not To Invest In China Forbes China Mulls New Oil Futures, Timing Unclear Dow Jones Chinese executive faces probe in Singapore Xinhua Stocks Drop $10Bln in a Day Moscow Times Is VimpelCom the Yukos of Russian telecom firms? NYT The spectre of Parmalat still haunts market FT Hong Kong firms to face new accounting rules The Standard
Thursday December 9 Household debt rises 9.1% in third quarter CBSM Weekly Labor Market Report Contains Worrisome Signals NT PDF Dollar Gains; Schroeder Says He's Concerned About Stronger Euro BL Dollar Halts Advance on Speculation Snow May Allow a Weakening Currency BL Why the world frets over the dollar's fall CS Monitor Dollar's rise seen as brief respite Guardian The buck should stop here NY Times A great power does not debase its currency Sell US stocks and buy the dollar Faber The Shoeshine Boys in Bolivia Know the Dollar's Going Down Bloomberg But do you really want to own euros and yen? Consumer Spending Spree – Winding Down? NT PDF Distractions in the Social Security Debate Mises President's policies won't deliver promised deficit cuts EPI Gambling hedge fund proposal is anything but a sure bet Las Vegas Sun Got COLA? Veiw From SV Big Blue Is in Chinese Hands. Get Used to It Pesek China flexes increasing muscle for global deals ST NYT Expects 'Challenging' Year in 2005 AP Sirius suffers serious slide G&M Biopure Faces Cash Crunch TheStreet King Pharmaceuticals to Restate Results AP Calpers reveals risky investments' cost IHT (NYT) EDS to scrap poison pill FT Fortune Brands Dumps Poison Pill Clause AP Fannie Mae has agreed to forfeit $7.5 million BL Amazon's 'morning nightmare' lasts 11 days, and counting TheRegister Martha Stewart gets new TV series BBC Kerik Made Millions From Agency Contractor AP Kerik's conduct in Saudi Arabia questioned Washington Post The Soccer War Slate Gold Bulls Have More To Cheer Than Limp USD Dow Jones Who is to blame for GLD tonnes tanking? Wood An Open Letter to GATA’s Chris Powell (on GLD) Bullion Desk PDF China Has Slowest Factory Production Growth in 18 Months BL Malaysian output slows as global growth falters IHT (BL) Economy watchers' index down ~ Bank lending falls for 83rd month JT Goldman Sachs stands by prediction on yuan, rates AFP Canadian Dollar – The Beginning of a Reversal? Daily Fx Russia’s VimpelCom faces $158m tax bill FT Steel Giant Probed Ahead of Auction Moscow Times Exxon Says Russia Too Risky for Major Deal MT The insatiable Chinese dragon Mining Mx Steel shortage threatens recovery Yomiuri Mortgage lender 3 trillion yen in red Asahi IRC tells Daiei to close 20% of outlets, shed 10% of payroll Asahi
Wednesday December 8 Snow to Remain Treasury Secretary BL Paper Assets Glitter; Gold Slumps TheStreet Gold Plunges Most in 10 Months, Metals Slide, as Dollar Gains Spur Selling BL Oil Prices Climb on Rise in U.S. Supplies AP Merck Slashes Its 2005 Estimates on Vioxx AP Nortel Expects Drop in 2003 Net Earnings AP Sirius Shares Plunge After Downgrade AP Dollar Rises 1% Against Euro, Yen AP Dollar support CBSM Gold Plunges U.S. Treasuries Drop Before Sales BL WMT downgraded Household Saving And Their Houses NT PDF Monthly Indicators: Eating the Dollar CIBC PDF Financial time bombs that threaten mass destruction Times Online David vs. Goliath Schaeffers An Early Christmas for Jim Rogers Business Week New Book (Dec 28) Analysis: Fed may not be as lucky in 2005 UPI Oil: The Dividing Line Of The New Cold War Auerback OPEC Frets Over Excess Supply Reuters Housing boom could be history soon, experts say SOS California, US in a Housing 'Bubble,' UCLA Forecast Says LAT Layoffs atop 100,000 level 3 months straight CBSM GM launches 'Red Tag' sale Reuters Offers $7,000 cash back or interest-free financing on 2004 models in hopes of staying in the black. China Computer Maker Acquires IBM PC Biz APAdventure IBM's Chinese Adventure Business Week IBM Merger May Mark China Shift to Predator From Prey Bloomberg Fines loom in vitamin cartel case NYT Gold Fields shareholders reject IAMGOLD merger AFP Gold and Silver Miners Meet Prices Soar AP Bar Brawl Threatens US Gold Fund Wood U.S. deficits fine -- Nobel laureate Prescott Reuters “The U.S. (current) account deficit, no problem. People that say there is (a problem) are ignorant...” Prescott in 2000: Stock market is “correctly valued” FED Prescott on the 1929 Stock Market: Irving Fisher Was Right FED Spitzer announces run for NY governor FT Book Review: The wealth of America is wealth CS Monitor Amazon Japan just keeps out of a recession with poor growth figures AFP BL Has a Chinese Enron Popped Up in Singapore? Pesek China Aviation Oil Chief Detained AP Scandal to fuel shake-up TheStandard China Aviation May Face Singapore Liquidation Suit as Debt Deadline Nears BL Lex live: Hong Kong FT The case for Asia Economist Russia's Exchange Reserves May Change AP Bank of Canada leaves interest rates on hold; dollar weakens CP Britain looks at U.S.-style pension plans NYT Russia: Back In The USSR? BCA Research Ukraine Talks Fail as Crisis Deepens Moscow Times TV drama creates a crisis that the City may wake up to Times Online In the nine years since Nick Leeson brought Barings Bank to its knees five more rogue traders have come to light Vivendi and its former boss fined BBC
Tuesday December 7 Texas Instruments Cuts Forecast Reuters Tech investors cringe USAT Yuan Forwards Gain; China's Zhou Says Peg `Carries Huge Risk' BL ART: The New Asset Class? FallST (Elliott Wave) US Productivity Rises at 1.8% Rate, Lowest in 2 Yrs BL Holiday-Shopping Season Remains Sluggish Reuters Dollar Falls on Speculation US to Refrain From Stemming Drop BL Global Rebalancing at Work Morgan Stanley (Roach) Jobs-Data Distortions Frustrate Easy Comparisons NYP (Crudele) Blackstone Group pundit says U.S. ´running on empty CBSM Surprise, Surprise: the Treasury waited til December to clear China of currency manipulation Setser Blog More On Dollar's Downfall NT PDF Gold Exposes the Dollar Paul Should you be buying gold? CNN More Questions About the ETF's Gold Turk GLD Double-Counts Gold Bars, GATA Says BW Golden stockpile delivers Swiss a wealth of problems FT The Future of the Gold Market in China LBMA PDF Stage One of the Great Collapse begins Globblog Pushing on a string? Hulbert When Complex Systems Fail Willie Crisi$? What Crisis? Rostenko Competitive Devaluation Wang There's a reason why "dollar crisis" is so oft repeated in the news today. To desensitize the financial world to fears of a dollar crisis, thereby nipping the problem in the bud Social Security: Inventing A Crisis NYP (Krugman) (R) Economy to nose dive: strategist Australian Advertiser Use of cards tops checks AP FED Can there be too many homeowners? Bankrate The housing boom: Is a bust in sight? Times Dispatch Retailers Looking to Move Plasma TV's AP Deeply Discounted Cars May Lead to a Smaller GM Bloomberg Fiat threatens GM with action FT The 2004 "Spend Like Drunken Sailors" Award EW Will Consumers Curb Online Enthusiasm? TheStreet Colgate cutting 4,400 jobs CBSM J&J in talks to acquire Guidant CBSM 3Com warns on quarterly losses FT Ex-HealthSouth CFO Says Scrushy Demanded Inflated Earnings AP Personal finance: Corporate boards favoring execs over shareholders Phillynews Bre-X trial resumes, taking more civil tone G&M Although hundreds of documents and dozens of witnesses will be examined in the trial, the mystery of how so many respected financial analysts, geologists, mining executives and bankers were duped by the Bre-X discovery will likely never be solved. Probes Could Pinch UnitedHealth TheStreet IBM in deal with Chinese PC maker Times Online Rivkin trades 'exposed' AAP Blodget: The real trouble with mutual funds Slate Beware funds bearing gifts Macleans The mutual fund industry is sorry. But you shouldn't forgive and forget. A rare look at the U.S. strategic oil reserves IHT (NYT) Hardee's Monster Burger Creates Uproar AP The combo packs more calories and fat than most people should get in a day. Yen Rises on Speculation Japan Won't Reverse Currency's Rally BL US dollar under heavy selling in Shanghai Shenzhen Daily-Agencies Eurozone ministers accuse US as dollar sinks to new lows AFP Dr M: Trade in euro, yen, or gold TheStar Higher pound hits home for investors in British stocks CBSM Tanigaki: To Take Proper Steps Vs Excessive FX Move DJ Japan Nov Foreign Reserves $840.09 Billion; Up $2.21 Billion On Month DJ Price rise in China highest in seven years People’s Daily Oh, My God! The Chinese Are Coming! Slate Unhelpful China AEI Lee Kuan Yew's Contrarian Outlook for U.S. Pesek The Bear's Lair: Blair's race against time UPI Trichet should not bemoan the rising euro FT Bundesbank cuts forecast for German growth next year AFP Costello warns 2005 won't be easy AAP Is Turkey the next Argentina? CEPR BBC to cut 3000 jobs CBSM GM, German unions close to layoff plan WSJ Four China Aviation Officials Surrender Passports Bloomberg Bill Clinton Helps Launch Search Engine AP
DOW 36,000 Lives! Glassman
Monday December 6 Should You Buy in the Blazing Hot U.S. Home Market? BL Dollar Continues Decline Against Euro AP $ Up Against Yen BL Dollar near lows amid “capital flight” talk FT “Enormous capital flight”? The Late, Great American Dollar Janszen Dollar's plunge is a blight, not a benefit MSN (Fleck) This is what Alan Greenspan's stewardship of the dollar has wrought. Why the Current Account Deficit Matters  Hussman US privilege becomes even more exorbitant Guardian Reducing the budget deficit will not save the dollar, contrary to what many Democrats may think. A bank, hit by a panic, cannot save itself by cutting its advertising budget, raising its fees or firing its staff. And once a rush gets going, jacking up interest rates won't stop it either... Dollar's fall is an Asian dilemma IHT (NYT) Look Both Ways: Dog Dollar Days CFO U.S. Treasury Debt Investors Turn More Bearish on Dollar Drop Bloomberg OPEC Nations Seen Cutting Worldwide Deposits in Dollars NYT (R) Oil bounces on possible OPEC cut Reuters US consulate in Jeddah attacked Guardian Crude up amid Saudi violence C Protesters Beseige Nigerian Oil Platforms AP Gold: Bullion bulls vs. share bears Brimelow Maund ~ Murphy ~ Taylor Europe gold eyes 16-year peak, liquidation threat Reuters Have investors learned nothing? CBSM Bubble mentality runs rampant on Wall Street Hedge Funds Could Be New Bubble NYP More U.S. home buyers fall prey to predatory lenders USAT Housing costs create other problems for region SOS Bush may need to raise tax to cut trade deficit Independent (King) Strong October Data Ensure Fed Rate Increase BL (Berry) Treasury chief likely to go soon NYT The Successor to Greenspan Has a Very Tough Act to Follow NYT We Pledge Allegiance to the Mall NYT Goldcorp Agrees to Buy Wheaton River Reuters Bloomberg expands forex trading FT SEC Threatens to Sue Former Brobeck Lawyer Over Client's Probe BL Investment Adviser Warns on Offshoring AP Kmart Vendors Hit with Fraud Charges CFO Bribery Charges Stop More Deals CFO Researchers say the state of business ethics is gloomy DBN Aon ‘comfortable’ with past behaviour FT Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity in June 2004 BIS Quarterly Review: International Banking and Financial Market Developments BIS The Dividend Rediscovered BWeek Currently 75% of the stocks in the index pay dividends. That's down from 94% as recently as 1980. Asia Draws Nearer Shocking U.S. Treasuries Pesek China’s economy: Fear and attraction IHT (NYT) Talk of a Bubble as Venture Capitalists Flock to China NYT Mixed-up policy mix links U.S. and Japan Japan Times Manufacturers' gloom deepens Guardian Bank urged to prepare for rate cut as high costs and low dollar take their toll UK 'could see more car plant closures’ Times Online Germans shine in stock options use FT Australia: House market bubble bursts DL
Weekend Edition (Dec 4-5) Dollar's Fall Tests Nerve of Asia's Central Bankers NY Times Investors weigh how long rally will last AP Alice in Bond-er-Land Norcini In the Timing of Options, Many, Um, Coincidences NYT (Morgenson) Fraud Allegedly Plagues Energy Trading AP Insider selling hits $6.6B in November CBSM Thomson Tearsheet Highest level of insider sales in more than four years. Bubble upon bubble: the US is being cooked NYT (Friedman) In times of a weakening dollar and a possible fiscal crisis, the White House is looking for a pliant Treasury Secretary $, €, Ą: Some historical perspective Norris Pertinent Monetary Economics from Ralph G. Hawtrey PBear (Noland) Behold Gold's ETF Zeal Silver and Gold Schaeffers Bubble Day Morgan Stanley (Roach) Don't Confuse Me With the Facts Mauldin PDF Debt, Growth, and Diminishing Returns EW The returns from each $1 of new debt in the U.S. economy have been diminishing since 1967. Want to hear the 'ugly' scenario? G&M No less an authority than former U.S. Federal Reserve Board chairman Paul Volcker warns that there's a 75-per-cent chance of a dollar-fuelled financial crisis within the next five years, unless Washington adjusts its economic policies. U.S. Housing Is Looking Bubbly BCA Research Property taxes rising nationwide CS Monitor Fewer can afford a house SF Chronicle Another month, another set of records in Hawaii HS New futures market to protect against housing bubble Inman Disney Dissidents End Bid to Oust Eisner AP Citigroup exec denies unit is for sale CBSM IBM Hires Merrill Lynch to Find Buyer for PC Business Bloomberg El Paso Adopts Policy on 'Poison Pill' AP Treasury doesn’t accuse China of currency manipulation AFP USTreas Snow says strong dollar "foundation" of US policy AFP Brown plans could mean billions more in tax, warns IFS Inde 'Little more than election bribes' Guardian Halifax first lender to predict house price fall Guardian Asia/Oceania Weekly Outlook Scotia PDF The Week Ahead: Who’s Leading Whom? CIBC PDF Russian bonds haunted by history ~ Russian Debt returns to fashion TO Switzerland trapped in economic "slow lane" Swiss Info Playboy goes to China G&M Ukraine election to be rerun FT
Friday December 3 Gold Ends Strong As Dlr Dives Dow Jones U.S. Economy Adds 112,000 Jobs, Less Than Expected BL BLS Treasury Notes Surge BL Dollar Weakens BL Japan Will Act on Yen ‘If Necessary,’ Tanigaki Says Bloomberg Central bank keeps quiet about its euro options NYT The passing of the buck? Economist America's policies are putting at risk the dollar's role as the world's dominant international currency The Makings Of A Meltdown Business Week Why the danger of a stampede away from the dollar remains A Ruinous Dollar Policy NRO Currency depreciation does not bring prosperity. Consumers could get caught under falling dollar MSNBC The Great Currency Challenge NBR (Barber) Pass the Buck Mises When Our Dollars Come Marching Home SH A Shock 321 (Russell) Is chief grump getting less grumpy? Hulbert The US Budget Deficit: On an Unsustainable Path Brookings Institute PDF File The Social Security Crisis, Another White House Lie? Baker Post-Election Rallies Not Unusual Comstock Many see early exit for John Snow Reuters More Homeowners Borrowing Against Equity In Their Homes TheDay Not only were new applications on the rise, but the size of the credit lines appears to be ballooning as well Pricey land stalls Calif. school, road projects LA D Red-hot Vegas market cools slightly SH Has the oil bubble burst? Globe & Mail Oil's Slippery Slide Schaeffers Dollar Down, Trade Deficit Up... Debunked? Elliott Wave IPO allure revives, but it isn't 2000 Norris Value Trounces Growth, Led by the Buffett Brigade Bloomberg The phone call is dead; long live the phone call Economist Who wins and who loses as phone calls move on to the internet? SEC Posts Hedge Fund Adviser Rule On Web Site DJ SEC Intel: Merrill says 05 double-digit rev growth unlikely CBSM Chip Revenue Slowdown Expected TheStreet Rise in Rates Rips Fifth Third TheStreet N.Y. Times cuts forecast AP Circulation Scandal Widens NYP Nokia slips as two executives quit CBSM Options Grants Probed at Chip Maker CFO IBM said to put PC business on the block FT CSFB May Cut Jobs as Costs Outstrip Goldman, Lehman's BL American Greetings cuts 300 jobs Reuters United to lay off 825 in U.S. Rocky MN Indonesia Prosecutor: Evidence Vs Newmont "Incomplete" AP Ex-NYSE official Langone sued CBSM Jeopardy! Winner, Tax Loser Business Week Sexy China Casts Shadows on a Not-Rising Sun Pesek Firm's trading losses set off global scramble NYT The disclosure that a Chinese state-run company listed in Singapore had lost $550 million in derivatives transactions in the past five weeks has set off an international scramble to determine who will cover the losses. Chinese oil chief still missing, Beijing parent firm comes under scrutiny AFP CAO stake sold 'to cover rising derivative losses' FT China Central Bank Head: Risk Of Financial Crisis Not High Dow Jones BoJ should look at side-effects of easy credit policy AFX U.K. 2005 Home Prices May Drop for 1st Time in Decade Bloomberg Venezuela to Devalue Bolivar 11 Percent on Jan. 1 Bloomberg EU rule threat to German banks FT Three Germans, one US executive of Infineon face jail over price-fixing AFP Workers robbed of pensions could face new blow Times Online Yukos Unit Slapped With $300M Claim Moscow Times Steel crisis may force more Nissan cuts FT Bank machine dispenses fake money Reuters Canadian Imperial Bank of Commerce, already taking heat for accidentally faxing customers' financial information to a U.S. scrapyard, apologized on Wednesday after one of its cash machines dispensed fake money. Rich Russians flex their financial muscles - Art Sales Break Records MT
Thursday December 2 Remarks by Governor Ben S. Bernanke FED SEC Says Kmart Overstated Its Earnings AP Crude off more than 6% ~ INO The Dollar's Double Whammy Forbes Wal-Mart Predicts Weak Dec. Sales as Retailers Falter Bloomberg Factory Orders in U.S. Rise 0.5 Percent for Fifth Increase in Six Months BL Retailers Report Disappointing Nov. Sales AP Jobless Claims Up Oil Declines to Lowest Since September After Heating-Fuel Inventories Rise BL Dollar Climbs Against the Euro on Speculation Its Slide Has Been Excessive BL Dollar Drops Against Yen; Tanigaki Says Joint Sales Unlikely BL Gold Up Asia Stands Divided Against Dollar and Euro Pesek Japan and ECB mull joint currency move FT Commentary: Dollar crisis shaping up CBSM The dollar's fall triggers global jitters Miami Herald $8 Trillion and Counting G-E (Lewitt) Why I Think the S&P 500 Is Fairly Valued at 625 Morning Administrationâ€s Looking Glass Distorts Economic Stats NYP (Crudele) Trade Deficit Could Lead To Tax Increase NCPA Their savings, our problem? Setserâ€s Blog What, if Anything, Will Sink the Global Economy? Wharton Real estate as trigger Black Swan Real Estate Bubble trouble? USNews The red-hot housing market reminds some of the latter days of the 1990s stock market. How will it end? Honest Money Part VII Financial Sense Nothing Ventured, Everything Gained NY Times “It's a little scary what is going on here. You're allowing someone to manipulate the market. It undermines the whole concept of linking ownership and control.” Outlook for chip gear dims IHT (BL) Ford, GM to make cutbacks, and soon AP Questioning OmniVision's earnings CBSM Ex-Exec Settles Insider-Trading Charges CFO In about face, Giuliani goes Wall Street NYT Did investors regard real estate as "safe" during the "Japanese Bubble" BIS Gold and Silver Remain Undervalued FS Gold fever's back in Ballarat Australian New wave of gold rush hits China China Daily Gold Rush Reaches Fever Pitch in China AP China tries to limit Aviation Oil scandal FT China keeps tight rein on credit BBC Fears for UK exports as pound edges close to $2 mark Times Online ECB rates on hold as growth fades Reuters German Unemployment Rate Rises to Highest in Six Years BL Europeans Wary of Large U.S. Acquisitions AP Dollar's Fall Drains Profit of European Small Business NYT The Dollar Needs To Decline Against Asian Currencies BCA Research China weighs dollars and sense of revaluation China Study Group A second Plaza Accord could prove a nightmare scenario for Beijing. Too Many BMWs in Shanghai? China Returns to Earth Bloomberg Just How Cheap Is Chinese Labor? Business Week US textile importers, retailers try to stop limits on Chinese imports AFP Japan Inc.'s Real Estate Binge, Part II Business Week Instead of raising dividends, corporations are buying property. Sound familiar? EU to sue Greece for erroneous deficit data IHT Brazil's Coffee Output May Fall 10 Percent as Farmers Switch to Soybeans BL Feared Sell-Offs Report Elicits Yawns Moscow Times Manufacturing Boom Ends, Economy Slows Moscow Times Bombardier axes 2,200 jobs and cuts jets production FT Computer glitch created bogus construction slump Times Online US slaps sanctions on five Chinese, North Korean 'proliferators' AFP
Wednesday December 1 Silver Above $8 ~ Gold 16-Y High ~ Oil Plunges GM, Ford Sales Fall; Toyota, Nissan, Chrysler Gain Bloomberg Beige Book: Retail mixed, jobs improve, price pressure up CBSM FED SEC Suspends Trading in 26 Companies AP Factory gauge accelerates in Nov. ISM Oil falls; Energy Dept posts rise in distillate CBSM DOE Incomes Have Biggest Gain in Five Months; Personal Spending Climbs BL BEA Mortgage Applications Fall MBA November Same Store Sales Down Reuters Dollar Weakens; Global Policy Makers Give Sellers ‘Green Light' Bloomberg The Containment Area Contrary Investor The World?s Biggest Excess Morgan Stanley (Roach) The amazing shrinking dollar Boston Globe Danger - falling dollars Guardian Dollar Defies Greenspan Fix TheStreet Currency Currents Black Swan PDF “One of those times when rising yields are not necessarily dollar positive.” Scary Bonds Luskin (Nov 19) Study: Housing Wealth Impacts Spending More Than Stocks NAR Warning: 60 million boomers 'paralyzed' Farrell CRB index eases after reaching 23-year high FT 'The age of cheap oil is over' Guardian Seattle area still in 'deep hole,' says economist Seattle PI Do Hedge Funds Calm Markets or Inflate Bubbles? Bloomberg Quantum Founder Rogers Says Hedge Funds Have Peaked Bloomberg “I'm told there are almost 10,000 hedge funds. With overcrowding, there will be some charlatans and incompetence. You can't have that many smart 29-year-olds around.” Merck Sued by New York Fund Over Vioxx AP GM to lay off New Jersey plant workers in early '05 AP The Bleeding Beast of Bentonville Slate Wal-Mart's mistake may set off a price war CNBC Analog Devices Gets SEC Inquiry Notice TheStreet Nortel CEO says he's red-faced by financial report delay FP Calpers chief says corporations were out to get him Guardian NASD Slams 29 Brokers for $9.2 Million NYP Martha Stewart eyeing reality TV return CNN American Express Fires Ernst & Young CFO FAS 133 Led Fannie Mae and Freddie Mac Astray AEI SEC bows to pressure on trading reforms FT 736,800 ounces of gold up for delivery...to GLD? Nymex Nymex Warehouse Stocks Nymex Gold to Average $410 This Year, $450 in 05, SocGen Says BL Gold Could Hit 17-Year High In 2005 - ANZ Bank BVOM Indian gold demand grows despite high prices IA Dollar's Decline Not Enough to Ease US Trade Deficit Concerns VOA -- Repost: Dollar Adjustment: How Far? Against What? IIE PDF Files Overseas investors shy away from US bonds WSJ Japan and China - The Wild Card in the Bond Market Safe Haven BOK Heavily Invested in USBonds Korea Times ECB Cuts 2005 Growth Forecast, Sees Faster Inflation BL OECD Recap: Clouded Outlook Economist OECD Don't Gloat Too Much Asia; Tough 2005 Looms Bloomberg China's thirst for raw goods booms Newhouse But its stocks don't match its economy Speculative money: A hot potato China Daily Signs That Japan's Economic Recovery Is Fading NYT Japan Digital Camera Shipments Down 1st Time In 4 Months DJ Data Asia Can Defend Itself MS (Xie) ECB warns growth in Europe is stalling IHT Governor warns of 'lost momentum' Times Online Australian Economic Growth Slows to 0.3% in Third Qtr Bloomberg Global Earnings Momentum Still Weakening BCA Research Sterling hits post-ERM high on solid data T Taiwan's debt outlook downgraded by S&P IHT (BL) Canadian GDP: Earmarked for a Slowdown CIBC PDF Yukos chief sees little hope for oil giant WT China Aviation Seeks Protection After Bad Bets on Oil BL “Chinese Wisdom” Oil Firm Losses Shocks Singapore Stock Market Scotsman The scandal could the biggest case of losses from speculative trading to hit Singapore since trader Nick Leeson... Dollar's slide leaves Diageo in the doldrums Independent Investors furious at software share sale Times Online Citibank Japan chief apologizes in Diet Japan Times Three Former UFJ Bank Executives Arrested Reuters Russian Fin Min Official Held Over Alleged Bribery AP Thai Bourse Probes Natural Park Shares For Insider Trading Dow Jones Deutsche Bank May Cut About 2,000 German Jobs, People Says Bloomberg Survey shows lack of finance knowledge Guardian Ukraine on Verge of Banking Crisis Reuters Ukraine Central bank acts to prevent financial crisis FT Kremlin's Ukraine Play Sours Investors Moscow Times Zimbabweans see no quick relief in reforms Reuters U.S. slaps tariffs on shrimp imported from China, Vietnam AP Vietnam seafood industry angry at US anti-dumping duties on shrimp AFP
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