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Tuesday September 30
“The much lower-than-anticipated reading of the NAPM-Chicago report and the drop of consumer confidence tell us that the U.S. economy has slowed from its strong pace of this past summer" John Lonski
How Rich DO You Have to Be to Get In the Game? Elliott Wave ($)
The control the SEC wants over hedge funds will be about the same control it has over companies like ... Enron... or WorldCom ... or brokerages ... or brokerage analysts ... or mutual funds ... or the NYSE ... or the other people and institutions which have not been "deterred" from fraud, scandal, abuse, stupidity and every other shortcoming known to man.
Implications of the Growth of Hedge Funds SEC (PDF File)
Consumer Confidence Tumbles To Lowest Level Since March CB
Chicago Manufacturing Index Fell to 51.2 in September From 58.9 Bloomberg
Escaping from depression UPI
Conventionally, there are thought to be two routes to escaping from economic depression: pumping up the money supply and boosting public spending. Unfortunately, the Bush administration and the Fed have now carried both about as far as they will go, and last week's economic statistics suggest the U.S. may still not have escaped depression's clutches...
Sucker's Rally On Its Last Legs? Gold-Eagle (SS)
Tech stocks may be set for a dive Boston Globe
U.S. chain store sales fall for third week Reuters
43.6 million don't have health insurance USAT
Made in America? Entrepreneur Will your job move to India? MSN
Fed's Moskow - part of factory slump is structural Reuters
Foreclosures continue to soar in North Texas Star Telegram
States Putting Inmates on Diets to Trim Budgets NY Times (R)
Fed-up fund investors shut their wallets MSN
The amount of money flowing into funds dropped 70% in the weeks after major players were accused of cheating investors. It's no coincidence.
Investment flows out of US equities markets FT
Sun's Big Charge a Bad Sign for the Quarter TheStreet
SAP sales pressured by Oracle pricing CBSM
Safeco to Cut Jobs, Exit Life Insurance Reuters  45
Berkshire Hathaway Unit in Rare $1.5 Billion Bond Deal Reuters
The company's first unsecured debt offering in more than 15 years.
SEC puts pressure on Ken Lay CBS MarketWatch
Says Enron ex-CEO 'refusing' to comply with subpoena
Alliance suspends 2 in timing probe CNN/Money
Death to the specialists? CNN/Money
AMEX Cover Up NYP  Fired Exec Warned of Deception
Fraud, conspiracy trial begins for former Rite Aid executive AP
The Silver and Gold Train Wreck Financial Sense
Gold Shines As Investors Eye Safe Haven... Investor’s Business Daily
Vietnamese Bankers Worried About Fallout From Gold Price Rise Asia Pulse
Hey OPEC: American’s Are Getting Fed Up With Oil Price Hikes Crudele
China's currency: Renminbi and ruin? Asia Times
Rising Sun May Sink US The Bulletin
Japan Sold Record 4.46 Tln Yen in the Past Month Bloomberg
Dollar jumps vs yen, dealers cite BOJYen Surges to 33-Month High
Rubin: Strong dollar benefits U.S. Reuters
Former Treasury Secretary says weak currency would lead to higher interest rates, recovery risk.
S.Korea c.bank chief: no U.S. pressure on dlr/won Reuters
Japan fund managers up stock weighting to 8-yr high Reuters
Debt mountain grows Guardian
Labour warns of forced pension provision Times Online
Biotech fever a symptom of deadly bubble syndrome Sydney Morning Herald
Nightmare awaits the novice day traders The Australian
Italy 'cannot shirk pension reform' BBC

Monday September 29
Gold fund on track, new filing shows CBSM (Calandra)
U.S. August Personal Spending Rises 0.8%; Incomes Up Bloomberg  BEA
Third senior official quits NYSE board FT
SEC Staff Urges Registration for Hedge Fund Managers Bloomberg
New Fund Rules Won't Solve an Old Problem TheStreet
The SEC has spent the last 24 years trying to repair the damage...
A COT Death? Gold-Eagle   The Global Impact of the Gold Dinar G-E
Rebalancing Backlash Morgan Stanley (Roach)
Senate digs into Iraq $87 billion CS Monitor
“The future belongs to physical assets” Business Standard (Faber)
Book: Tomorrow’s Gold Marc Faber
Making the case to own gold MSN (Fleck)
Freddie Mac's strategy: Too much risk SunSpot (WSJ)
This is the story of how this pillar of the U.S. housing market transformed itself into what some call a giant hedge fund.
Portfolio recovery or Alzheimer's? Gulf News
Since 1900 there has never been a period where a bull market rise has been followed by another bull market phase
Business’s Killer I.O.U. NewsWeek
New factories? More workers? They’ll have to wait. Pension shortfalls are costing corporations billions
Taking a Closer Look at Debt NY Times (R) (Morgenson)
Stockholders are ever the optimists, while bond investors watch for clouds on the sunniest of days.
Prof. Krugman's destructive economics BrookesNews
The misery of manufacturing Economist
Why there is a new panic over manufacturing in the rich world
Jobs are a thing of the past here in America SF Gate (Satire)
Econo Eyes SF Gate (Flash - Comedy)
Experience the thrill and excitement of the U.S. economy first hand!
Opposite analysts' ratings is way to go NY Daily News
Investors Holding the Bag on Cisco Buyback TheStreet
Wal-Mart's Stock: No Bargain Here Business Week
PC companies sell electronics Rocky Mountain News
Longtime defect analyst stung by layoff from semiconductor plant's closing MySA
DaimlerChrysler CEO Quits NYSE Board - HD caught up in flap at NYSE AJC
No one involved noticed how insane Grasso's pay package was SLT
SEC Says Amex Had `Serious Failure' in Enforcing Regulations Bloomberg
Morgan Stanley fund trades probed by SEC-WSJ Reuters
Kozlowski, Quattrone trials set to begin CNN/Money
Accountant arrested under Sarbanes-Oxley USA Today
SEC to release results of hedge fund probe FT
The Great Depression as a credit boom gone wrong BIS 
G7 persuaded to gamble with weapon of mass devaluation Observer
For now it is clear that a genie is out of the bottle on currency exchanges. Traders will test the resolve of interventionists like never before.
Japan prepared to 'fight 'excessive' swings in yen IHT (Bloom)
“The right of a nation to intervene in currency markets is internationally recognized”  
Finance Minister Sadakazu Tanigaki
Another Big Reason China Won't Revalue Business Week
Already awash in bad loans, its Big Four banks could go under if depositors bolt
The Asian Car Invasion Picks Up Speed BW
Falling currencies and economic growth: more economic fallacies BrookesNews
Bank may need to take a different path around debt mountains Independent
CPI continues 48-month losing streak Japan Times
On His Shoulders, a Graying Japan NY Times (R)
Though the United States and other countries face similar demographic problems, Japan's pension situation is one of the worst cases because of the size of the deficits and the graying of the population.
Optimism over Japan often turns to tears TIME Asia
House prices 'soar 138% in decade' BBC
Homes bust 'within three years' Sydney Morning Herald
Italy slowly comes back to light BBC
In postwar Iraq, U.S. supplying oil products SunSpot

Weekend Edition (Sept 27-28)
Protectionist Tilt Morgan Stanley (Roach)
Take Me Out to the Stockgame Frontline (Mauldin)
The Powerful Force Prudent Bear (Noland)
Mysterious VIX Divergences Zeal
Debt Illusion! Gold-Eagle (Chapman)
Does valuation matter any more? Globe & Mail (Ingram)
U.S. Incomes Fell, Poverty Rose in 2002 WP

Friday September 26
Michigan Consumer confidence revised lower in September CNN/.Money
U.S. GDP Grew at 3.3 Percent Rate in the Second Quarter Bloom BLS
US Q2 final after tax profits fell 5.0 pct Reuters
134,000 Lost Jobs in August 'Mass Layoffs' WP
Clueless Pimco (Gross)
I reiterate: the stocks, bonds, and currency of a debtor nation in the process of reflating are not attractive investments.
Is Fed's recovery talk all spin? Financial Post
M. Stanley's Roach: Dangerous, Wrong To Scapegoat China Dow Jones
US: $400 billion deficit in pension plan funding WSWS
Bull Market 2003: The Worse the Company, the Better the Stock NYT (R)
Freddie Mac Delays Releasing Revised Numbers WP
Errors for the past three years could exceed its previous estimate of up to $4.5 billion.
The Rally Wagon's Wheels Are Coming Off TheStreet (Task)
Expect the dollar to slide further after this week's sharp decline Economist
Russell Sees Gold At $556 Gold-Eagle
Ad warning an economic red flag CNN/Money
Why tech stocks are headed for a fall MSN (Jubak)
Municipal Bond Issuance Takes a Run at the Record Bloomberg
Politicians Got Parties at NYSE WP
Carl McCall resigns from NYSE board FT   Paulson Next
Fed Probe Into Lancer Ties Asked NY Post
Bear Stearns's Cayne to Collect $117 Million in Stock as Deferred Payment BL
Levi to Shut N.American Plants, Cut Jobs Reuters
Kodak Shares Hit 18-Year Low on Dividend Cut to Fund Digital Imaging Plan BL
SEC to tighten short-selling rules FT
Global View: Au revoir, dollar! II UPI
Focus: China's gold rush China’s Daily
About 20 per cent of respondents to a recent national survey said they were  willing to spend 10 to 30 per cent of their savings in gold investment
Foreign cen banks keep buying U.S. debt - Fed Reuters
Banks told to tighten screws on debtors Japan Times
Lloyds TSB fined for mis-selling BBC

Thursday September 25
2004 models hit dealer lots with up to $3,000 in discounts CBSM
U.S. carmakers are so stuck in the quicksand of endless incentives, with their customers conditioned to expect the perk, that some 2004 models are being discounted even as they hit dealers' lots.
U.S. August Durables Orders Fall 0.9%; Ex-Transportation Down Bloom Census
U.S. Initial Jobless Claims Fell by 19,000 to 381,000 Last Week Bloomberg
Gold forges new 7-yr high in Asia on OPEC cut Reuters  Kitco
The truth behind much vaunted US GDP growth  Business Times
Surprise, surprise: there simply has NOT been any real GDP growth in the past three years - it has just been one big statistical manipulation.
Fed Stats Miss Half The Recent Price Increase NY Post (Crudele)
If it is picked up, the government will risk giving Social Security recipients a decent cost-of-living hike next year.
A Sustainable U.S. Recovery? AEI (Makin)
Beyond some hazy assertions that the chances of recovery are better this time since we have had more time to adjust to post-bubble imbalances, the outlook is not particularly bright.
No Reason for Nasdaq Exuberance MorningStar
OPEC cuts may crimp economy MSNBC
Is The Dollar Toast? Financial Sense  The World's Great Manias
Dollar crash could wreck U.S. economy Detroit FP
Day of reckoning postponed, not canceled MSN (Jubak)  Jubak on Metals
A stalled stock market faces October CBS MarketWatch
Diminishing expectations CBSM
As this week progressed, there were increasing signs of diminishing expectations where the future path of the U.S. economy is concerned.
States Still Struggling To Control Medicaid Costs Stateline
Analysis: How investment banks make money UPI
Investment banking is a very different business to 30 years ago, and its returns are both highly volatile and heavily subject to manipulation by a sophisticated and greedy management and workforce.
New York bank takes $183m hit FT
The securities originally were rated Triple A and were worth more than $1bn. After a series of credit downgrades, the bank sold the bonds and took a $183m loss on its investments.
Commentary: The Housing Bubble and Me Prudent Bear
Recovering companies reducing debt loads USA Today
Biggest U.S. utility wants to reduce its debt burden IHT (BL)
U.S. tech firm moving R&D projects to Taipei Taiwan News
No quick fix for Silicon Valley SF Gate
Flextronics drops after $1 billion ruling CBS MarketWatch
Kodak Cuts Dividend for first time to Divert Cash Bloomberg  MCD Raises Div
Miami travel firm to file for Chapter 11 Miami Herald
Enron sues investment banks AP
Bankrupt energy company accuses creditors of role in fraudulent transactions
Telemarketers win a court battle Seattle PI (NYT)
Mesa couple accused in fraud AJC
Ebner denies charge over insider trading IHT
NYSE Monthly Disciplinary Report NYSE
Reform the Big Board -- Gingerly Business Week
Federal budget still matters WorldNetDaily
Yen Drops; Mizoguchi Says Gains Weren't Warranted Bloomberg
Nikkei Ends at Four-Week Low Reuters  J-Govt Bonds Drop
China may widen yuan trading band next year, says report BT
Hong Kong: Bullish on the Hong Kong Dollar? Morgan Stanley (Xie)
Economic Impact of a Weak US Dollar Revisited
Is `Irrational Exuberance' Coming to Asia? Bloomberg
Salary bill for foreign firms rising in big cities People’s Daily
'China's Wall Street' to be completed by 2008 People’s Daily
Malaysia seen retaining peg with dollar weakness Reuters
Bear Market Turning Off Singaporean Investors AMI
Tourists Say Au Revoir to France Business Week
World bankers hoe into the caviar SMH

Wednesday September 24
Ban on Russian ads depicting euro having sex with dollar Ananova
Oil closes above $28 after OPEC cut CBS MarketWatch
Freddie Mac Regulator Delays Report Date Reuters
Viacom slices financial projections CBS OPEC OK's surprise cut to oil output
Mortgage demand cools Reuters
Forecast: Recovery Hopes Are Too Rosy Reuters  UCLA
Beither consumers nor businesses have the buying or investment power to drive the solid growth seen in typical economic recoveries.
Back to the bubble CNN/Money
Bearish sorts worry that investors didn't learn a thing from the crash.
Will debt buildup sabotage the recovery? IHT
Americans will pay later for tax cuts now, studies find IHT (NYT)
“The government is basically borrowing $1,000 in your name and then handing you $250 of it” 
We’re Paying Dearly for Bush’s Tax Cut PDF File
California economy is weaker than expected Seattle Times  Budget Problems
If you're a taxpayer, start worrying Bloomberg
States and municipalities are going to sell billions of dollars in bonds to help fill holes in their pension plans...
Alan Greenspan: Mr. Creep North
Risky buying on margin surges again USA Today
The margin trap CBS MarketWatch
The recent explosion in the amount of U.S. stocks being bought with borrowed funds begs the question: "How stupid can some investors be?"
US Corp Bonds - End wider as supply tops $40 bln Reuters
U.S. Treasuries Decline on McTeer's Economic Growth Comments Bloomberg
A Generation Raised on Equities Craves Them Still Bloomberg
 Here we have a vessel that has been hit by one storm after another over the past three years -- and people can't wait to book passage for the next trip.
IPOs are coming back into fashion again   USA Today
Two of the companies due to go public this week -- online retailer RedEnvelope and glass vessel maker Anchor -- lose money.
The fruits of irrationality Guardian Book: The Roaring Nineties (Oct 2003)
Gambling With the Dollar? WP
Bush Bid to Weaken Currency Could Backfire
Retracement Rallies After Bubbles Sandspring
High Vacancy Rates Likely to Contain Expenditures on Business Structures NT
Now, Its The AMEX NY Post
Dick Grasso isn't the only stock exchange boss sitting on a big fat pay package.
Big Pension Fund Seeks Accounting Reform WP CalPERS Release
Worry Over a New Conflict for Accounting Firms NY TImes (R)
“There's a significant conflict of interest if the same firm designs and documents the controls and then turns around and audits them”
Big Three to shed 50,000 jobs in next four years: analysis AFP
Ford moves to triple production capacity in China IHT (Bloom)
China’s auto output jumps China Daily  ”Car Craze” = Crude oil imports surging
Indian Motorcycle halts production - 380 Laqid off AP
Harland to eliminate 10% of work force AJC
Judge to weigh class-action status for Wal-Mart suit SF Gate
Two Ex-PurchasePro Execs Plead Guilty Reuters
NYSE pay chief leaves as Grasso scandal deepens USAT
Buffett tech holding revealed Reuters
Get With The Program Russell  Expert says ignore gold’s distractions MW
IMF’s Koehler Warns Governments Against Currency Demands Bloom
22% of households struggling to save Japan Times
Consumer debt weighing on South Korean economy IHT
Who Owns $85 Billion? Moscow Times
Almost 70 percent of all private ownership in Russian companies is not publicly disclosed.
Bountiful kiss-offs abundant in North America Toronto Star
North American companies reward hastily departed CEOs for failure.
Confusion mars talks on Argentine bonds default FT
Skyepharma set to miss profits target and hit cash crunch Independent
Wishing won't make the (Ontario) deficit go away Globe & Mail (Ingram)
High US Deficits A Cause For Concern, Says RBI Governor Financial Express

“Although we don't know anything new that we didn't know yesterday, there is one fact that is still unknown -- where will Japan draw the new line in the sand...”

Tuesday September 23
Snow says U.S. economic growth on sustainable path Reuters
“Let me assure all of you...that we're committed to cutting that deficit in half over the course of the next five years which will bring that deficit well below 2 percent of the GDP of the United States and certainly that is very manageable”
Alternative Chart
Snow wary of export based economies Reuters
Chain Store Sales Tumble Reuters
Hurricane Isabel scared shoppers away and the impact of federal tax rebate checks waned.
Deja vu all over again? CBS MarketWatch
This last weekend was eerily reminiscent of that fateful weekend in October 1987, the one just prior to Black Monday.
Nightmare on Wall Street? CNN/Money
The Real Bull Market Financial Sense
I Knew Plaza Accord. Dubai Is No Plaza Accord Bloom (Baum)
So if a weak dollar isn't in Japan's best interest, and it isn't entirely in the U.S. best interest, just whose best interest is it in?
Potential Catalyst - Real Estate Comstock
Value & Psychology: The REAL Issues in Real Estate Elliott Wave
Commentary: When Productivity Becomes A Bad Thing Nightly Business Report
Jobless rate worse than headlines say AP   U.S. pay hikes below 4% USAT
Grim telemarketers count days to 'do-not-call' Arizona Republic
The ATA claims that 2 million jobs could be lost on Oct. 1.
Survey: Most plan to work into 70s Reuters
Fund scandal may run deeper CNN/Money  TIME
Rubin, Levitt May Still Be Candidates for NYSE Top Job NY Post
NYSE traders welcome Reed but call on board to quit FT
NYSE Chaos Takes Bite Out of LaBranche TheStreet
Levitt: Funds need scrutiny Philly Inquirer
ING Bank Sues JP Morgan, Deloitte AP
ING Bank contends it lost hundreds of millions of dollars as a result of a "massive Ponzi scheme"...
State sues broker over Va. hedge fund Boston Globe
Verizon warns, Cuts Capex Forecast Reuters  Gene Logic warns CBS
Mercantile lowers 3Q earnings outlook SunSpot
Bond Volatility a Feast for Three Brokerages TheStreet
Goodyear talks of layoffs in 11 states AP
TIAA-CREF lays off 70 in Denver, 500 nationwide Business Journal
Claims pile up in Isabel's wake; $1 billion in property losses seen AP
Gold set to challenge $418 by year's end -Barclays Reuters
Gold rally won't falter if dehedging slows-analyst Reuters
The Bear's Lair: Sell tigers, buy weasels UPI
Yen Climbs Against Dollar; Japan May Reduce Sales of Currency Bloomberg Japan was the largest international investor in U.S. notes and bonds in July...The G-7 risks a ”free-falling dollar.''
U.S. Notes Fall; Asian Central Banks May Cut Treasury Purchases Bloom
French Consumer Spending Drops Most in Seven Years Bloomberg
EU tells U.S. to end 1916 trade act Washington Times
Swiss fund manager wants more hedge fund oversight Reuters
Argentina enrages bondholders Reuters

Household Borrowing Establishes a New Record Northern Trust
Is Rising Productivity Resulting In Job Losses Or Vice Versa? NT

Monday September 22
Dollar takes it on the chin; Treasury bonds plunge CBSM
Flexibility sought, volatility emerges CBSM
Richard Grasso Leaves a Selfless Gift to Us All Bloomberg (Lewis)
Breakthrough Morgan Stanley (Roach)
An unbalanced global economy has finally come to its senses.
The Dollar Wars Return Daily Times
James (Book): The End of Globalization: Lessons from the Great Depression
Opening Pandora's box CNN/Money
The U.S. dollar-weakening effort carries risks
Real Estate Market May Show `Irrational Exuberance' Bloomberg
U.S. Recovery May Stall in 2004 Unless Companies Start to Hire Bloomberg
The world need not follow the US model Gulf News
The Death of Literacy Puplava
Alice Lives Here in Make-believe, USA
Credit card offers encourage you to carry a balance Chicago Sun Times
Just when you thought you'd seen everything from the credit card industry, now come cards that reward customers for not paying their bills.
Here’s the Real Grasso Scandal Newsweek
Big Board Is Far From Forefront When It Comes to Policing NYT (R) (Morgenson)
Market timers set sights on Europe FT
Some of Europe's top banks and fund management houses reported a rise in activity by hedge funds looking to exploit differences in market closing times
SEC Intensifies Inquiry at NYSE of Trading Firms Dow Jones
Bean Counting Bums NY Post (Byron).
Central Banks to Forge New Gold Deal Reuters
”We had a brief discussion on gold...We will come back to this issue at the beginning of next year” 
G7 bankers in secret gold sale talks Observer
Russia wants to boost gold reserves-Central Bank Reuters
Swiss bank puts wealthy clients in gold Reuters (Sept 18)
New gold-backed securities on menu at Denver forum Reuters
Asian Stocks Slide; Nikkei 225 Has Biggest Tumble in Two Years Bloom
How Japan's recovery might damage the American economy Independent
A mirage in Japan's banking stocks IHT (Bloomberg)
Banks' earnings prospects may be hurt, some investors say, because they have been understating the amount of nonperforming loans they hold.
China resists G7 call to float currency Independent
Chinese banks to sell off $6bn in bad assets FT
Investor interest in Asia surges FT
EU's Solbes Says EU-12 Won't Meet 2% Forecast in 2004 Bloomberg
Iraq adopts sweeping economic reforms BBC
All Iraq's major industries - except oil - will be up for grabs
The surging Australian dollar has topped the 68 US cent level ABC
ABARE tips dollar to push 70 US cents ABC
Dollar rise lowers our competitiveness Globe & Mail
Unemployment set to rise in Switzerland Swiss Info
Static Scotland still lagging rest of UK Scotsman
Debt overload in poor countries worries IMF Miami Herald
IMF May Consider Easing Terms of Brazil Loan Accord Bloomberg
IMF accused of 'going soft' over Argentina debt bail-out Independent
Investment banks face worldwide crackdown Observer
Robbers cart away gold bars, kill guards, engineer in Philippines TheStar

Yen Surges After G-7 Statement, Japan's Economic Growth Outlook Bloom
Tokyo's Nikkei drops as yen surges vs. dollar CBSM Nikkei
Dollar could plumb new lows, say traders FT

Weekend Edition (Sept 20-21)
NYSE names Reed as interim chief executive Bloomberg
Reed, who said he has never met Grasso, declined to comment on his pay.  
NYSE Statement
--”In the e-mail, Grubman said he decided to upgrade his recommendation on AT&T stock so Weill could "nuke" his co-chairman, John Reed, with the support of Armstrong. Reed retired in 2000.”
NewsdayWhy Reed Left Citi
Banks relax rules on loans Seattle PI
There was a time when banks adhered to strict debt-to-income ratios
As Interest Rates Climb, Must Bank Stocks Fall? NY Times (R)
If the historical pattern holds, bank stocks should be acutely vulnerable to the climb in yields.
Government Data With a Smiley Face? Gold-Eagle
Giant Sucking Sound Forbes
In post-Grasso era, pressure on NYSE specialist system CBSM
Buyers look for cheaper alternatives to NYSE specialists
As Scandals Still Flare, Small Victories for Investors NYT (R) (Morgenson)
Severance pay could add to Grasso's pile of cash USA Today
'I do get rattled' Guardian
Paul Krugman is a mild-mannered university economist. He is also a New York Times columnist and President Bush's most scathing critic. Hence the death threats.
Book: The Great Unraveling: Losing Our Way in the New Century

A Considerable Predicament Frontline (Mauldin)
We can't speculate our way to prosperity MSN (Fleck)
Soaring margin debt. $100 million paydays. Dead-fish analysts cheering no-earnings techs. All signs that the mania that made the bubble is alive and well.
"Let it Rip" Prudent Bear (Noland)
Real Rates and Gold 5 Zeal
How to Turn Unemployment's Rising Tide Business Week
The Roots of the Federal Debt Mises
Flying on one engine Economist
America can no longer propel the global economy. Unless other countries take over the economic outlook is grim and globalisation is at risk
Prediction: The future of the USA stock market UCLA (Sornette)
US may be net agricultural importer by 2007, say ag economists Reuters Purdue
Is the Fed lying? CNN/Money  The FED's Deflation Smokescreen 321 (Harris)
Interstate Bakeries to Close Plants Reuters
Ripple effect in Johnson County wide and deep JournalNet
Time Warner faces up to reality Globe & Mail (Ingram)
Motorola CEO resigns under pressure FT
Deutsche Bank chief considers resigning FT
Ex-Tyco chief: What party? Reuters
Lawyer for Dennis Kozlowski wants to make sure jurors don't see videotapes of a raucous $2M party
Commission: Steel tariffs cost $30 mln CBSM
China raps US over revaluation of yuan Gulf Daily News
Mundell defends China's policy Taipei Times
Koehler won't carp at growth engine US on deficits
"I would urgently advise against using the (Yuan) issue as an excuse for bullying" Koehler
G-7 Ministers Urge `More Flexible' Exchange Rates Bloomberg
Snow: Japanese 'Supportive' on Forex Reuters
Japan banks revise profit forecast Reuters
Top Japanese Banks to Layoff Thousands AP
Kyocera trims earnings forecast Japan Times
COMEX gold jumps as new cen bank deal anticipated Reuters

Friday September 19
A Warning From the Global Consensus Morgan Stanley (Roach)
Tech Bubble Lessons as Prologue Financial Sense (Picks)
Home price declines could send recent buyers to the poor house InMan
The national rate of home price growth surpassed the overall inflation rate by more than 30 percent since 1995
Compromising Positions CFO
Will credit derivatives encourage more lending, or will they harm the interests of borrowers?
The Creaky Job Machine NewsWeek
The statistics hide an ugly, grinding process that may lead to more cuts
Sun Microsystems to Cut 1,080 More Jobs AP
US IT jobs under fire TheRegister  CPST $
Magazines Planning To Trim Ad Staffs in Critical 4Q NY Post
Fiscal Experts See Pain Ahead for States Reuters
Use more risky investments, N.J. pension board is urged Philly Inquirer
Grasso's gone but the turmoil remains Independent
Demand / Supply Figures in the Gold Market SH
Barrick asks court to reconsider gold trial ruling Reuters
Barrick's "motion for reconsideration" will be heard on Oct. 15.
NWC files list more than 9,000 creditors AP
Enron creditors can expect only 16% back FT
UAW Ends Contract Talks with Big 3GM to Close Aging Baltimore Plant R
Big scandal, not much action CNN/Money
Of 3 fund families implicated in fund scandal, only Janus sees weekly net outflows
International Banking and Financial Market Developments BIS
The Richest People In America - Forbes 400 Forbes
Too Sunny In Latin America? CEPR PDF File
The IMF’s Overly Optimistic Growth Projections and Their Consequences
China Insistent on Protecting Currency NY Times (R)
US to China: Make Goods More Expensive! Mises
Asian currency manipulation comes under fire FT
Record yen-selling a boon for stocks Asahi
Traders dare the BoJ to redefine the "line in the sand" Scotsman
Japan's Mizoguchi says dollar fall a "bit rapid" Reuters
Stock speculation worries Thaksin Business Times
Is the Reserve repeating its 1980s monetary disaster? BrookesNews
Commonwealth Bank of Australia to Cut 3,700 Jobs Bloomberg
Economists Detect New Capital Flight Moscow Times
Capital has been flying out of the country since July, several economists say, which reverses the much-touted inflows over the second quarter of the year.
Pensioner guilty of $2.5 trillion fraud plot Guardian
Slamaj, a self-confessed conspiracy theorist, said the prosecution was a US plot to ensure the treasury would never have to redeem the bonds.

Thursday September 18
Grasso QuitsHow Drama UnfoledNYSE StatementReaction
“Richard A. Grasso is gone. But the changes at the New York Stock Exchange are only beginning.” 
NY Times (R) ~ The Grasso Years (Chart)
Grasso: End of a Rags-to-Shocking-Riches Tale WP
Hurricane Isabel Hits Shore --
CNN - Drudge
Sept MidAtlantic Manufacturing Stumbles Reuters Philadelphia Fed
IMF urges China, Asia to let currencies appreciate AFP
What Snow in Beijing means for gold Asia Times
Japanese officials decline comment on intervention Reuters
U.S. Leading Economic Indicators Increase Again   Conference Board
Jobless claims below 400,000 Reuters
Measurement, Valuation, and Reporting of Intangible Assets NY FED (PDF)
The forces of the status quo are immense and are fighting against meaningful change, even today...   Hedonic Magic Ackerman
Here We Go Again!: Investment Advisors Warn of Dangers Of Wrong-Headed Rush to New Tech 'Boom' Zero Alpha
Mortgage banking world begins to unravel MSN (Jubak)
It's only a matter of time before other players in the mortgage-backed securities market come forward with their own problems.
Author: Liquidity flow control vital TheStar  Book: The Dollar Crisis
The inability of the US to indefinitely expand its indebtedness to the rest of the world means that Asia’s export-led growth will be coming to a close.
U.S. Trade Deficit Threatens Global Growth, IMF Says Bloomberg
IMF World Economic Outlook IMF
Bush Pressure on China Went Against Some Advisers Reuters
Executives say Natural Gas supply shortage mirrors 1970s oil squeeze CNBC
Layoffs crank up again, chip away at economic growth USAT
It's an OutsourceWorld CNN/Money
Pfizer plans 800 job cuts Det N  200 - 18
Romney eyes benefit cuts for jobless Boston Globe
Higher productivity has its consequences Nando
Spending, then the debt, and then the squeeze on the workforce Independent
Has Structural Change Contributed to a Jobless Recovery? NY Fed PDF
Why you'll owe more in 2004 CNN/Money
From insurance to taxes, from your home to your school, your bills are likely to increase.
Healthcare problematic for US automakers FT
With chronic overcapacity, relentless competitive pressure from nimbler Japanese rivals and massive pension and healthcare costs, Detroit's ability in the next four years to survive, let alone make vehicles at a profit, hinges largely on the terms of contracts reached with the UAW.  
"Talks continue" AP
N.Ky. bank fights to survive Cincinnati Enquirer
Ex-Merrill Bankers Charged in Enron Case Reuters
promises not to undertake transactions in the future to help clients manipulate earnings.
Former MCI CFO Pleads Innocent to Charges Reuters
Pentagon to investigate bidding in Boeing tanker deal AP
Commentary: California insurance squeeze UPI
More grads struggling to repay loans LA Times
Soros mounting anti-Bush effort UPI
Chinese Banks Double Consumer Lending AP
China plans to issue US$1 billion, 500 million euro bonds People’s Daily
China tries to control property price boom Telegraph
Chinese banks not ready for currency changes PD   US industry to press... CN
Outlook rosy (maybe) Telegraph
When the last housing slump began in 1989, most property commentators failed dismally to forecast it. So how can we trust what the 'experts' are predicting now?
Bank minutes hint at rise in interest rates Independent
EU gives France 5 days to cease Alstom bailout AP
Housing boom to bust: IMF alert Sydney Morning Herald
Price war looms as Eurex takes on Chicago Finextra
Eurex will establish a level playing field in the US futures industry for the first time.

Wednesday September 17
Grasso: Mow Him Down! NYP  Directors Discuss Replacements
Isabel could hit pocketbooks hard CNN/Money
Firms Restrict Last-Minute Policy Changes WP
U.S. August Housing Starts Fall 3.8% to 1.820 Million Rate Bloomberg  PDF
Refinancing demand falls 15% Reuters  MBAA
Confidence hits 8-week low CNN/Money
Is Monetary Policy Working? Comstock
During the two and a half years since the beginning of 2001 total indebtedness grew in total by about $5.6 trillion compared to real GDP growth of $417 billion. This equates to $13.50 of debt for each dollar of real GDP
The T-Shirt Kid Safe Haven (Obscene Prophets)
...This recent proposal is but another harbinger of drastic action in the future.  The Fed and the Administration are not as ignorant as many believe.
Technology Stocks Are Way Ahead of Themselves Bloomberg
Investors warned about technology high-fliers Contra Costa (WSJ)
Business leaders question economic forecasts Detroit Free Press (Tompor)
Companies are cautious despite rosy analyses
NASD warns of risks of buying on margin AP
Purchases of securities on margin jumped 25 percent in the first seven months of the year, to $174.4 billion in July, up from $143.9 billion in July 2002
Flashback ~ April 2000 Margin Squeeze ~ Baltimore Business Journal
Jobs exodus sparks Silicon Valley protest  FT
Two incomes, more debt?  CS Monitor
A new study offers a controversial theory of why today's families are having a tough time staying afloat.
Dupont Guides Lower  CBS NY Times Warns CBS
Ford turns to bond markets to raise $3bn FT
Citigroup says CEO Weill stepping down early AP
Altria Shares Jump After Legal Victory Reuters
FedEx delivers generous buyouts  AJC
GMAC Job Losses  KWWL  104
R.J. Reynolds Tobacco to Eliminate 40 Percent of Workforce Bloomberg
Briggs warns of 22,000 lost jobs JSOnline
Telemarketers' convention focuses on survival AJC
Setback for Microsoft Ripples Through the World Wide Web NYT (R)
Morgan Stanley fund sale contests draw $2 mln fine Reuters
Mass. Regulator Probes Putnam Mutual Fund Reuters
SEC moves to block $23m payoff to Messier FT
Auditing firms sued for overcharging Reuters
On the Market & HUI  - "Get your chips into play!"  Faber
Show Me The Silver FS  Setting gold's past record straight FT
Gold could break $400/oz before end 2003 Reuters
Large gold producer treadmill unsustainable  MineWeb
Gold sales not on official IMF agenda  Reuters
“Subject that will possibly be discussed in Dubai”
Currency Crises and the Informational Role of Interest Rates BIS
FTSE Hits One-Year High Reuters  Nikkei Closes at 15-Month High
G-7 shouldn't blame woes on China's currency Toronto Star
A Feeble Plan To Save U.S. Manufacturing WP
China's auto boom to hurt Big Three: KPMG Financial Post
China retail sales surge 9.9% in August Reuters
Iraqi team to attend OPEC talks WT
Iraqis' Bitterness Called Bigger Threat Than Terror DJ (NYT)
Toshiba forecasts heavier losses Japan Times
Exchange levies record fine on BP Guardian
Told to tighten up its oil trading activities following a variety of alleged violations
Pay Me Now or Pay Me Later. Fed Opts for Later Bloom (Baum) Berry on Fed

Tuesday September 16
FOMC Statement FED
The Committee perceives that the upside and downside risks to the attainment of sustainable growth for the next few quarters are roughly equal.
All eyes on Greenspan AJC
Testing their metal Economist
Commodity prices have been shooting up. Time to worry again about inflation?
U.S. August Consumer Price Index Rises 0.3%; Core Up 0.1% Bloom  BLS
Quarterly survey points to modest jobs growth in the fourth quarter CNN
The Tax-Cut Con NY Times (R) (Krugman)
Those Damn Imbalances ABN-Ambro (PDF - Pg2)  from Flow of Funds
Households have never acquired debt at the pace now being seen.
Bloated U.S. deficit could hurt economy Detroit Free Press
The War and the Economy WP War and Debt Ron Paul
Will Iraq Put Pressure on the Bush Tax Cut?
Lights out - part 2 SH (Chapman)
IT spending remains in the doldrums FT
The much-anticipated upturn in IT spending is still more predicted than real
Goldman Survey Finds Evidence of Tech-Spending Delay TheStreet
Tech Sectors Have Few Believers Schaeffers
Nasdaq rush forgets Silicon Valley San Jose BJ
Popping Amazon's Bubble TheStreet
Cisco: At the Top of Its Climb? Business Week
Facing Huge Debt, Big Farm Co-op Is Closing NYT (R)
Mortgage broker shut down Boston Business Journal
Romney Staff Prepared To Lay Off Workers AP
More cuts coming for state health Clanton Advertiser
Chrysler is likely to close foundry IndyStar
Sprint will outsource technology jobs KC Star  Jury is in about offshoring
Contracting Out IT Jobs Vexes States ST Outsourcing takes jobs out of US
Gold: Not So Shiny Anymore Forbes
Eliot Spitzer Meets The Silver Managers? Butler
Spitzer, SEC Say Broker Will Be Charged WP
NYSE Cheif’s Pay May Be Least of His Problems NYP (Crudele)
Isabel’s impact could be costly CNBC USAT
Senate bill to change pension calculation AP
401(k)s lost less in '02 - for wrong reasons Philly I ICI Release
John Snow's China Dreams Meet S&P's Reality Bloomberg
It's a rare day when economic officials are happy to see Standard & Poor's voice concerns about their financial system.
What If Yuan Rises? MWise
Analysis: China protectionism equals votes UPI
U.S. creates team to curb Chinese trading practices AP
Why inflation targeting is an increasingly inexact science Independent
CBI turns the spotlight on to company pensions Independent
Russia's Stock Market Is Full of Gas Business Week
Investors seem to be turning a blind eye to Russia's political risks
Can India be a hardware champ? Times of India
German Investor Confidence Rises for Ninth Month, Longest Run Since 1993 BL
How the poor countries of the world 'reached for the moon' and got nothing Inde

US market watchers see return of bullish tactics FT

Monday September 15
August Industrial Production Edges Up 0.1% - CU unchanged at 74.6% FED
- When the economy was expanding from 1992 through 2000, an average 82.5 percent of plant capacity was in operation.
Current Account Gap Holds Near Record Reuters  BEA
Inventories at Businesses Dip in July Reuters  Census
Empire State Manufacturing Survey Rises NY FED
The myth of a self-sustaining recovery MSN (Fleck)
When it dawns on people that demand isn’t improving, the rebound has no legs and there’s no rescue party on the way, the market is in for trouble.
Another New Paradigm Morgan Stanley (Roach)
I worry that this flow-based logic smacks of a bubble-induced mindset very reminiscent of the New Paradigm thinking of the late 1990s.
The USS Economy is Sinking Financial Sense (Gordon)
Where the Bears Are: Standing Fast TheStreet (Task)
Good Economy. Bad Job Market. Huh? NYT
Flight to Imbecility 321 (Daily Reckoning)
Believe it or not, gold is not all that glisters FT
Middle class barely treads water USA Today
Lots of good news on economy may still leave Bush short NYT (IHT)
What Can $87 Billion Buy? Tom Paine
Trust Is Trading in Short Supply WP
Boeing May Face Up to $1 Billion in Damage Claims Dow Jones
Chipmakers Could Be Signaling a Handset Overhang TheStreet
-- Sept 10:
China Considers Curb on Cellphone Makers Dow Jones
High-risk lending may be hit by Basel rules, US banks say FT
NYSE divided over Grasso deal FT Clipping Grasso NYP
Grasso Pay Coverup Will Bring About a Revelation Bloom
Grasso Pay May Prompt SEC to Curb NYSE's Powers Bloom
Evans to Deliver Harsh Criticism of China for Trade policies WP
EU to address Asian currency `imbalances' TT (Bloom)
Top economists denounce RMB appreciation theory CDaily
China says will keep yuan stable, control money supply CNA
EU finance officials reject early yuan floating Xinhuan
IMF director declines to join campaign over China FT
China Currency Float Would Be `Dangerous,' S&P Says Bloomberg
Chinese banks 'at risk from yuan' BBC
Japan's currency games Bloomberg (IHT)
In an emotional day of voting, Swedes reject euro AP
Analysis: Why Swedes said 'no' to the euro UPI
Bubble Troubles Again Building in Indonesia? Bloomberg
Australia's falling unemployment -- not such good news after all BrookesNews
How Canada could see a US89¢ dollar Financial Post
Boston forecaster outlines fallout from U.S. current account
Short can be sweet when it comes to selling shares Scotsman
Rich-Poor Rift Triggers Collapse of Trade Talks WP
Killing Arafat an option says Israel VP Reuters

Weekend Edition (Sept 13-14)
Ponzi Economy G-E  (Richebacher) A Week with Richebacher in Cannes
Washington's Biggest Deficit Is the Shortfall of Courage CATO
Fed Expected to Stay on SidelinesStocks May Pause Reuters
Cummins, `Cyclical' Stocks May Falter After Leading U.S. Rally   Bloomberg
The ‘OK’ [but fictional] Economy Financial Sense (Part II)
One for the Time Capsule Prudent Bear (Noland)
The Weather Equalization Act Mauldin
Trading the Relative HUI Zeal
De-Servicing, Hiding in Plain View? Prudent Bear
Investors unload international funds CBS MarketWatch
Hard-asset bugs keep the faith CBSM (Calandra)
Tech-burned companies hesitate on Wi-Fi Net access CBSM
Oil Companies Show Fiscal Discipline Reuters
Grasso Isn't Only NYSE Millionaire TheStreet
Analyst recommends investors avoid Janus mutual funds AP
Nautilus to cut jobs, take charge Reuters
Black & Decker eliminates 47 jobs at Towson headquarters SunSpot  140
IMF says Asian forex reserve build-up excessive Channel Asia
"It is one thing to save for a rainy day, but US$1 trillion in reserves accumulation looks more like building Noah's ark" ~ Ken Rogoff, the IMF's chief economist
U.S. Debt to Asia Swelling WP
Japan, China Lead Buyers of Treasurys
Germany urges 'extreme caution' in Asia FX debate Reuters
Why China Should Not Revalue Its Currency YaleGlobal
Blunting China's export drive could stall an engine of world economic growth and bring instability
Bottom Line: China and The Sleeping Gaint UPI
Will bid to revalue yuan result in a huge own goal? Japan Times
China should shift peg to forex basket-Zalm Reuters
Swedish Euro Support Rises After Anna Lindh Killing Bloomberg
Global View: WTO no go? UPI

Doubts rise on strength of US recovery FT

Friday September 12
U.S. September Michigan Sentiment Falls to 88.2 From 89.3 Bloomberg
August Retail Sales +0.6%, +0.7% Ex Autos Bloom  CensusAugust PPI
Fortress America Morgan Stanley (Roach)
Are we forever doomed to repeat the mistakes of history?
Late trading may be more widespread than thought Boston Globe
Oct 02: Who Cares About Shareholders? Arbitrage-Proofing Mutual Funds PDF
Report that helped spark Spitzer's latest investigation. Zitzewitz ~ Stanford
London silver fixed at 3-1/2 year peak Reuters
JP Morgan sees higher levels for gold Inde The Commitments SH (Saville)
Inflation Rates Fall Worldwide WP (Berry)   Fed Isn't Expected to Cut Rates
The Real P/E Ratio Decision Point (Sept 6)
Even assuming huge growth, tech valuations look stretched CNN/Money
This time's different CNN/Money
Make no mistake: The weak job market is not business as usual.
Analysis: 'Tipping point' of the deficit UPI
$10 Trillion in Deficits? Fortune
Federal liabilities and accumulated deficits may actually soar by tens of trillions of dollars over the next few decades, leading to fiscal catastrophe, a Congressional expert warns.
Foreigners May Not Have Liked the War, but They Financed It NYT (R) (Norris)
The finance of the future Telegraph (Bootle) Book: Money For Nothing
What sort of return can investors reasonably expect from their wealth in the economy of the future? Not what they received in years gone by.
Interest rates squeezing retirees Knight Ridder
U.S. junk bond funds see $486 mln outflow in week Reuters
U.S. stock funds take in $2.8 bln, int'l funds lose CBS (TT)
Oracle revenue below target CNN/Money  MSFT Doubles Div
Barrick sees 10% production fall in 2004 Globe & Mail
Grasso Handpicked Pay Panel WP Board Wobbling   NYP
SEC Chairman Wouldn't Reveal His NYSE Pay WP
Plant's sudden closing idles 200 AP
230 Wilmington jobs at risk Cincinnati Enquirer
Seattle Coffee Co. gives workers notice Seattle PI
SEC Sues Two HealthSouth Ex-CFOs Reuters
AIG pays $10 million to settle fraud case AP
Taco Bell Dog Bill Hiked By $11.8M AP
Bank of America fires workers innvolved in improper trading AP
U.S. class action suit seeks JDS insiders FP
Investors are the ones who pay the tab when financial firms are fined BG
Japan's rock bottom Economist
The only way for Japan to get rid of its debt and to stop the yen rising is inflation, and lots of it.
Chinese goods increase deficit WT Senators complain Beijing is 'cheating'
China: Punishing Whom? Morgan Stanley (Xie)
For each dollar of China’s exports to the US, American businesses add on about four dollars in value before the goods reach the US consumers.
China on High Alert over Influx of Speculative Capital People’s Daily
China's Money Supply Soars by 21.6% in August PD
Rich and poor clash over farm aid BBC
Slush funds? In the defence industry? Now there's a thing Independent
InterContintental sees no end to hotel gloom FT
Israeli Move to Expel Arafat Sparks Worldwide Condemnation ICNI

Surplus of Lies -- And Tax Cuts Etherzone
Team Bush's Clueless New Math B-Week High Cost of War
87 Billion Apologies Slate
Take your money, Mr. President, but at least say you're sorry.
Bush Resignation Hailed by World Leaders Palast

Thursday September 11
Study: Illegal fund trades widespread CBSM
Spitzer charges only scratch the surface, professor says
Act II of the mania Cross Currents
With Job Losses, More Homeowners Late on Their Mortgage Payments AP
U.S. Jobless Claims Rose to Highest in Two Months Bloomberg
Import Prices Edge Up in August Reuters  Census
2 Years After 9/11, Stocks Still a Cautious Investment NYP (Crudele)
The Deflation Paradox:The US Trade Deficit and "Phony" Deflation 321Gold
Krugman the Keynesian   Mises
Mortgage drop surprises investors, but shouldn't Reuters
"The mortgage boom is ending, as we all knew it would"
Treasury Eyes Fannie and Freddie WP
Snow Says His Department Would Offer Better Oversight
Info on Fannie Mae, Freddie Mac Directors AP
The Neatest Thing about That $87 Billion Business Week
Time to follow Alice for another quick trip down Washington's rabbit hole.
America's Budget Book-Keeping Scandal AEI
Fidelity buys back HealthSouth shares after sell-off Reuters
Small Companies Driven Out Of National Exchanges Forbes
Small companies are exiting the national securities exchanges in droves.
International Paper Plans 3,000 Job Cuts Reuters
Levi Strauss to cut jobs as part of restructuring BT
Big Layoffs At Pecker’s AMI NYP
Bank of America Broker Sihpol Leaves Amid Spitzer Probe Into M-Funds BL
Confident investors or helpless sheep?   Oregonian
Because the feds are still in denial about the pervasive abuses and Ponzi schemes in the financial world, state attorneys general are taking matters into their own hands.
A Conversation With Eliot Spitzer  Smart Money
Snow to Investigate IBM Distribution of Doctored Memo to Congress  WP
Enron’s Ben F. Glisan Jr. heads to Prison  WP
FTC's Do Not Call Registry puts telemarketing jobs on the line USAT
NYSE debated Grasso pay for months CBSM
Grasso got $5m bonus for '9/11 leadership' FT
Cutting Gra$$o In NY Post
"I agree he's done good work..But this is ridiculous. Who gets 43 percent of profits?"  
Now You See It, Now You Don’t
IMF-Led Lenders Pledge Argentina $21 Bln in Loans Bloomberg
Argentina pledged to make a $2.9 billion payment to the IMF missed yesterday before it expects final approval of the loans Sept. 19.
The Risks of Getting Tough with China B-Week Don't Blame the Yuan AEI
Lawmakers who want to punish Beijing for declining to revalue the yuan dont recognize that the unintended consequences could be dire
China's thirst for oil at record high FT IEA Oil Market Report
China's torrid economy raises fear of overheating FT
Yuan revaluation may hurt U.S., Japan CBSM
Chinese Yuan Issue Shows U.S. Senate's Glass Jaw Bloomberg
EU slashes estimate for growth in half IHT
France in EU firing line as budget deficit overshoots limit EUBusiness
Minister's death clouds euro vote CBSM
Learn from America: its states are battling The Age
How did the states get themselves in such a parlous position when America's recession in 2001 was the mildest on record?
Best brokers: Honest analyst angst BRW
Assurances about the independence of Australia's analysts dealt a serious blow
Gold rise prompts Deutsche to issue Australia warrants Reuters
Former Russia media baron gets UK asylum Reuters

The bullion billions keep coming CBSM (Calandra)
J.P. Morgan, Barrick gold conspiracy to get day in court FP

Wednesday September 10
Critiquing the IMF's methods, Argentina defaults on $3B bill MHerald
If Argentina doesn't reverse its decision or reach a deal with the IMF within 30 days, it will join such pariah nations as Sudan, Iraq and Somalia in having all financial support cut off from the IMF, World Bank and other major lenders to governments.
Iraqi Quagmire Could Push Gold Over $400/Oz In Near-Term DJ
How the war tab may shift agenda in Washington CS Monitor
Experts Worry Iraq to Be Drag on Economy AP

A recovery without new jobs won't be a recovery for long CBSM
Even in the so-called "jobless recovery" following the 1990-91 recession, employment was rising at this juncture
Jobs, Jobs, Jobs --Sequel Comstock
Disregarding Economic Danger Signs Business Week
Economist Bill Wolman believes forecasters and investors are mistaken in thinking growth is alive and inflation is dead
1999, again CNN/Money
Investors are plowing money into the 1999 favorites. That's incredibly dangerous
Business-Cycle Dynamics Come Under Microscope Bloom (Baum)
RIAA keeps 12-year-old quiet with $2,000 bill The Register
Sen. Dick Durbin:  "Are you headed to junior high schools to round up the usual suspects?"
Washington Mutual warns on mortgages CBSM
Mortgage giant warns that it will book a loss on the sale of mortgages due to rising interest rates and problems with record keeping.
Mortgage Lenders Cut Jobs Amid Rising Rates Dow Jones (WSJ)
Mortgage Refinancings Rise Reuters - 'Fence sitters' jump to lock in rates ST
Tech-bubble anxiety Philly Inquirer
Does the 44% run-up in technology stock point toward investor disaster?
Health Insurance Premiums Up 13.9% WP 40,000 could lose Medicare SFG
Dell says some tech firms doomed SF Gate
3Com to Farm Out Manufacturing, Eliminate 1,000 Jobs Bloomberg
Tellabs seeks more layoff volunteers - Firm expects cuts in October D-Herald
Gateway to lay off 100 KC workers KC Star
Local firm’s layoff notice a formality Post-Crescent
“We have been busy until just recently.”
UAL to stay in Chapter 11 for months PBNews MCIConseco
Snow to Offer Treasury Oversight of Fannie Mae, Freddie Mac Bloomberg
Grasso to Give Up Extra $48 Million WP
Buffett minimizes role in Schwarzenegger campaign Reuters
Bernanke to get full term at the Fed CBSM
No firm had better returns with its buys than with its sells AP
FBI alleges hedge fund fraud Miami Herald
SEC Rips State Meddling NY Post  SEC chief blasts Spitzer R
Ebbers: I didn't 'know facts' Bloomberg  Labranche Appeals NYP
Enron Probe Focusing On Executives' Motives WP
Raytheon under SEC investigation Bloomberg
Janus in contact with Spitzer Rocky Mountain News
Judge Allows Sept. 11 Suits Against Airlines TheStreet
Ex-banker agrees to pay fine in insider trading case SignOnSanDiego
Warning over Cancun failure BBC
Argentina's Debt: Will the IMF Blink? Business Week
More than bondolders, the "whole system" will suffer if Buenos Aires gets the concessions it wants
China's Factory Production Growth Fastest in 5 Months Bloomberg
India's PC growth hit by high tariffs: Dell Times of India
“China is a key growth market..it has grown 71 per cent as against 47 per cent growth rate for the whole of Asia Pacific”
Inscape cutting staff, production Toronto Star
U.S. Demands China Pick Simpler Name For Currency Whatley (Satire)

Tuesday September 9
Argentina Defaults on $3 Billion IMF Debt Reuters
Senators seek tariffs against China CBSM
A group of senators introduced legislation Tuesday to impose an across the board tariff increase of 27.5 percent on imports from China to prod the Chinese government to drop its nearly decade-old currency peg to the U.S. dollar.
International Paper CEO Dillon to retire CBSM Sun as Co-Founder Leaves
Adventure capitalist is riding the bull market in commodities NP
“The U.S. economy is stronger at the moment than many people give it credit for "because Greenspan has been printing money and [President George W.] Bush has been spending it ..."Give me a trillion dollars and I'll show you a good time, too.”
Amazon: Adventure Capitalist
How The Government is Using A Shell Game to Fool You NYP (Crudele)
Fact Sheet on the New True Size of Government Brookings Institution PDF File
Goldman Sachs Raises Forecast for U.S. Deficit on Iraq Costs Bloomberg
The Market That Won't Die! Safe Haven (Chapman)
Investors' preference for speculative paper is bankrolling M&As CFO
A jobless recovery can't go on for long MSN (Jubak)
Why New Growth Theories Lead to Wrong Policies Brookesnews
Data: EPS Forecasts Soar but Revenue Lags Reuters
Market Eye: Joblessly into Fall UPI
The Bear's Lair: Giant sucking sound? UPI
Thinking the Unthinkable Financial Sense
Planning to Survive a Severe Disaster
The 'OK' [unless something happens] Economy FS (Puplava)
The less you know and understand, the better you will feel about this so-called recovery.
Study: Rent up about one-third since 1999 AP NILHC
The cost of wood is going right through the roof Seattle PI
Gold Rises to Highest in Almost 7 Years. . . BL Kitco
Gold: 28 Months and Counting CCurrents  GATA Update
Golden Guillotine Safe Haven The Gold Price - Its Structure
Trump says casino layoffs were 'just seasonal' Philly Inquirer  35
Briggs & Stratton jobs could move overseas JS Online
Phone-Bank Sellout NY Post
A colorful $20 bill makes its debut AP
Deflating the Bubble Economy Before it Bursts Earth Policy Institute
CIBC Ordered to Pay Investors $52 Million for Bond Losses NYT (R)
Spitzer's Fund Investigation May Sting Samaritan Hedge Fund BL
E-mail may implicate Janus Rocky Mountain News
Janus knew in June of at least five clients who were timing or planned to time trades in the company's mutual funds
Treasury Policy an Issue in Case of an Accused Inside Trader NYT (R)
IMF Urges Higher Fannie-Freddie Standard Reuters
Target: Grasso NY Post  NYSE stands by Grasso FT Seat Sale #1#2
Music industry sues swappers CNN/Money
Suit against Cheney and Halliburton dismissed AP
Argentina Close to Another Default, This Time to the IMF DJ
Argentina May Not Make $2.9 Billion Payment to IMF, Radio Says BL
World job market still depressed as layoffs outpace hiring Bloomberg
Europe's Economy Shrank in Second Quarter Bloomberg
Deflation remains a serious threat to Japan, warns IMF Business Times
Japan's Bonds Plunge as Stock Rally Reduces Demand for Haven Bloom
Asia's rebuff forces US pragmatism Times Online Trade Graphic
Overseas lending falls in China FT
China Bank to Sell Off Bad Assets on Net Reuters
Only shareholders felt the pain when $50bn vanished Sydney Morning Herald

Consumer credit grew at an annual rate of 4 percent in July FED

Monday September 8
Bank of America to Make Restitution Reuters
Asian debt withdrawal threat to US deficit FT
U.S. bonds face gloomy future MSNBC (FT)
Concern Treasury Will Increase Borrowing Bloom
Bush asks $87 bln CBSM  $55 bln more May Be Needed Bloomberg
Traction, Multipliers, and Leakages Morgan Stanley (Roach)
The Real Fiscal Danger OMB
In 2002 the combined shortfall in Social Security and Medicare of nearly $18 trillion was about five times as large as today’s publicly held national debt...
Wealth effect fallacy is resurrected -- again BrookesNews
Spitzer's mutual-fund fight deserves an A MSN (Fleck)
Most investors had assumed this industry is squeaky-clean. It's about time the truth was exposed.
Housebound NewsWeek   Amazon: The Two-Income Trap
Young families always stretch to buy their first home. But the growing ranks of the “house poor” suggest many people are stretching budgets too far
Let's scrape off makeup from rosy scenario Arizona Republic
Pricing Power Ain't What It Used to Be Fortune
The Punishment Does Not Fit The Crime NY Post
For eight glorious minutes in October of 2001, Goldman traders bought up 30-years with abandon - $84 million in bonds, $233 million in bond futures - secure in the knowledge that they knew something the rest of us didn't.
Global gains are bound to end in tears ThisisLondon
The perils of chasing performance CSMonitor
Vanguard buy'n'hold mantra a sinking ship CBSM
Pru's Levkovich sees Dow, S&P 500 declining in 2004 CBSM
Older Workers Are Thriving Despite Recent Hard Times NYT (R)
Young, Jobless -- and Politically Powerful? Business Week
Credit-card companies bank on users who mess up Dallas Morning News
Universal's CD price cut comedy gets five stars The Register
BIS Quarterly Review BIS  Full Text & Stats
Lustre returns to gold Courier-Mail
Gold funds making a comeback in the U.S. IHT (NYT)
Paper: NYSE Faces Pressure to Demutualize Reuters
Fannie Mae, Freddie Mac Face Shift to Treasury Oversight Dow Jones
SEC to approve listing requirements FT
Government debt piling up in emerging markets IHT (NYT)
In a report that will be published this week, the International Monetary Fund warns that some Asian and Latin American governments have loaded up with much more debt than a first glance might suggest.
China gets ally in currency feud IHT (Bloom)
Mexico won't support U.S. on peg; APEC rebuffs Snow
Taking the blue pill in a deflationary world Japan Times
IMF warns of deflation threat to Japan's recovery FT
Alert over slump by Christmas ThisisLondon
Britain could be in the grip of deflation - a nationwide slump in wages and prices - by Christmas...  
Service sector 'far from recovery' BBC
Talk is cheap, say foreign carmakers Taipei Times
The auto industry is complaining that China has broken promises.
Daimler Signs Deal for China Car Market WP (Reuters)
DaimlerChrysler AG signed a framework agreement for plans to make Mercedes luxury cars and trucks in China -- the world's fastest-growing car market.
Asia's cellphone makers prepare to take on Nokia AFP
Japan, China and S. Korea to jointly develop new OS Asahi
Germans may have to postpone their retirement parties AP
Fears over Russian pension fund reform FT
Russian Boom Lures Merrill, Goldman After '98 Default Bloomberg
The country's largest PC manufacturer has closed its stores New Zealand

European bemoans soaring U.S. deficits T-Star
Rising debt erodes trust, Dodge says

The coming first world debt crisis Open Democracy

Due To Technical Difficulties Articles From September 6-September 7 have been lost.*

Friday September 5
UBS tells pension funds to avoid equities FT
Sumner's Forgotten Classic Mises
Gross doesn't like it CNN/Money
Pimco head Bill Gross is preaching doom and gloom again
Fastow to be tried separately Houston Chronicle
Payrolls Down 93K - Unemployment Rate 6.1% BLS Payrolls slashed again
Economic reports paint bleak picture of job market KC Star
Clueless on Productivity Morgan Stanley (Roach)
The China Syndrome NYT (R) (Krugman)
A funny thing happened this week: the Bush administration, with its aggressive unilateralism, and its contempt for diplomacy and international institutions, suddenly staked its fortunes on the kindness of foreigners.
Casualties Of the Recovery Washington Post  PDF File
Jobs Cut Since 2001 Are Gone for Good, Study Says 
Piling Up Future Debts NCPA PDF
Pension-Liability Shortfall Said to Rise WP
The agency estimates that nearly 80 percent of the 32,000 pension plans offered by single private employers are underfunded. The projected deficit for all of those plans was more than $400 billion as of last year - a record
Technical Breakout Could Easily Fail Comstock
Parry: Fed still has room to cut ratesBernanke: Deflation Still a Threat
Mortgage rates at highest level of 2003 AP
House and Bubble Daily Standard
California's housing market has been in high gear for the last few years. What will happen to the state's already rocky economy if it tanks?
Freddie Ordered To Fire Ex-Officers WP
Goldman Will Pay $9.3 Million to Settle SEC Charge Bloomberg
SEC's Cutler: God bless Spitzer CBS MarketWatch
Spitzer has subpoenaed Vanguard, hedge funds CBSM
Little-known firm may have helped bend rules USA Today
PeopleSoft to lay off up to 1,000 workers Rocky Mountain News
Del Monte Profit Sags; Job Cuts Announced AP
Constar set to close 2 plants in the South Philadelphia Inquirer  90 - 9
Seattle Times may be forced to sell more assets Seattle PI
World Bank's incompetent gold dirge MineWeb
APEC Sides With China Over Exchange Rates AP
U.S. Turns Up Heat on Asia Over FX Rates Reuters
Snow Spotlights Japan's Hypocrisy on Yuan Bloomberg
Japan steps in to prop up dollar Japan Times
China is top destination for foreign capital Times Online Graphic
China's Top Legislator Calls for Establishment of New World Order P-Daily
German Industry Production Rises Most in Three Years Bloomberg
Directors accused of pension 'hypocrisy' Times Online
Canadian economy loses jobs Globe & Mail
Help save the Earth by writing off foreign debt Taipei Times
Nineteen countries have implemented more than 30 debt-for-nature swaps

Thursday September 4
Prospective German Sales of Gold GoldSeek
Folly and Fraud Etherzone  What It’s Really Costing Us
U.S. Initial Jobless Claims Rose by 15,000 to 413,000 Last Week Bloom
Spitzer's Charges Hit Mutual Funds Where It Hurts Bloom  OAG
Mutual fund is accused of playing favorites IHT (NYT)
Janus falls amid Spitzer allegations CBSM BofA cooperating
Upstaged once again, SEC says hedge fund probe ongoing CBSM
“What, WE Worry?” Pimco (Gross)
Global View: Recovery in 2004? UPI (Campbell)
The stimulus is going to run out. Nothing will replace it. In 2004 low growth or outright recession is likely for the U.S. economy...
Global Economy Will Grow 2% This Year, World Bank Report Says BL
The global economy “is growing well below potential'' and governments are running out of tools to fuel expansion.
World Bank ~ Table of Contents
Where are the Hawks, Goldilocks, and Deflation? Goldenbar
Why gold's glittering CNN/Money
The upswing in gold prices may be due to countries' efforts to keep their currencies weak
Lehman Develops Way to Warn of Crises Reuters
If the ten variables collectively produce a reading of 75 points or more then a country's balance of payments is viewed as vulnerable, while a reading above 100 means that a crisis could erupt at any time.
Why Iraq is bad news for financial markets Faber  'Duchess of Doom' no more?
Road Kill on the Greenspan Highway North Greenspan's Flutter CS Monitor
Alan Says Informed Consumers Threaten American Economy WR (Satire)
Goldman set to settle insider-trading charges FT
Ebbers faces criminal charges Guardian
Federal agents raid three offices of WebMd AP
State says fund manager bilked 89 investors SunSpot
Energy Dept. investigates gas spike Reuters
Exchange members plan Grasso legal action FT
How Much Did Donaldson Make at NYSE? For Now, He Isn't Saying TStreet
UMG slashes US CD prices 16-24% FT
China Hangs On to Currency Controls WP
Why China has given a chilly reception... Independent
Economic Worries in China as Companies Pile Up Debt NY Times (R)
With balance sheets still in need of repair, the race is on for fresh cash Inde
Royal & Sun Alliance to axe 1,000 jobs BBC
Loonie flies high as Bank of Canada slices key rate Toronto Star
Is Canada the next Saudi Arabia? Petroleumworld

Wednesday September 3
Macro Hedge Fund Sights On Golden $400 G-E
Gold charts point to push above $390 - analysts Reuters
NY’s Spitzer to probe mutual funds CBSM
Spitzer's eight month investigation uncovered "widespread illegal trading activities" between mutual funds and hedge funds.
Beige Book FED
Mortgage Applications Index Falls Bloomberg  MBAA - Refi demand still sliding
Australia under debt crisis threat ABC Transcript
There's a prediction that the next seismic debt crisis will not be, as some may imagine, in Argentina, but in America and Australia.
Imminent First World Debt Crisis Worse Than ‘Third World’ NEF
A giant credit bubble, created by globalisation’s decades of ‘easy money’, has now reached a ‘tipping point’ -- a point that has historically triggered financial crises.
Market Eye: Stretched elastic UPI (Campbell)
Apocalypse This Way Comes Gold-Eagle
As Good as It Gets? Smart Money
Merrill Lynch's Richard Bernstein argues that corporate profit growth has in fact peaked and is now decelerating...
Look closely at dividends CBS MarketWatch
Dividend growth may not be about earnings power
Commentary: Now's not the time to be buying stocks CBS MarketWatch
Insiders are bailing on home-builder stocks MSN
Your Retirement Is Part of a Looming Global Crisis Bloomberg
The demographic conundrum of trying to fund burgeoning public pension systems on a pay-as-you-go basis by increasingly fewer workers is leading to some painful measures for Western governments.
Pension funds pinched, stirring calls for reform CS Monitor
Of the companies in the S&P 500, 353 offer traditional pension plans...at least 322 pension plans were underfunded -- by $226 billion -- as of mid-June
Refinancers' anger rises along with mortgage rates Boston Globe
New York’s Economy Still in Slump Newsday  NYC Comptroller
Amid talk of national economic recovery, NYC is singing a sadder tune.
Dell: Business Slow to Hike Tech Spending Reuters
Cisco to grant employees options for 141 mln shrs Reuters
Chrysler gets more aggressive with incentives Reuters
More trouble for Symbol Technologies Inc. CFO
DHL plans to lay off about 2,900 workers SunSpot
Gateway takes chainsaw to costs, staff Register (WSJ)
Will Microsoft crash the global economy? WorldNetDaily
George Soros starts new hedge fund FT
Pious Buffett Should Heed Own Counsel TheStreet
Arnold's top-dollar economic adviser is also a hypocrite?
Reed Slatkin gets 14 years in prison for huge investment scam
"The future for myself is only one of isolation and devastation"
AT&T hits MCI with racketeering lawsuit FT
Ann Arbor biotech files lawsuit over a strange situation Det FP
SEC Chairman Assails NYSE On Grasso Pay WP
Joint BIS-IMF-OECD-World Bank statistics on external debt BIS  PDF File
What is the economic outlook for OECD countries? OECD   PDF   Graphs
Trade deficit with China just a small part of U.S. woes SunSpot
Snow: China Plans to Loosen Currency AP   Eventual Yuan Reform...
Yuan Forwards Rise to Record as China May Discuss Changing Peg Bl
China Tightens -- The Beginning Of The End Of Global Reflation? Prudent Bear
As China Gallops, Mexico Sees Factory Jobs Slip Away NY Times (R)
OECD halves euro growth forecast,urges ECB action Reuters
Fresh warning on UK debt spiral BBC
Gilts hammered as recovery news raises fear of rate rise Times Online
Long-term interest rates at 2 1/2-year high Japan Times (Kyodo)
Banks and institutional investors plow out of bonds and into stocks
Japanese Stocks Close at 14-Month High Reuters
Japan to bail out ailing Mitsui Mining MCN
BOJ still scooping up banks' shares Japan Times
Deteriorating job environment Japan Times
Pension plan deficits demand attention Ottawa Business Journal
Fitch upgrades Thailand's sovereign debt ratings AFP
BOJ quietly fixing data boo-boos Japan Times
Latest Iraq threat: cash crunch CS Monitor
US administrator Paul Bremer says the coalition budget for Iraq will fall short by $3.5 billion this year.
The Bear's Lair: Deadening resources UPI
Iraq reconstruction builds plywood demand, prices USA Today
A government order for plywood panels destined for Iraq is pushing key wood products prices to all-time highs.
Bush Turns to U.N. for Help Stabilizing Iraq Reuters

ISM Composite Index Advances, But Employment Index Drops Northern Trust
The employment index has held below 50.0 for 35th consecutive month...

Due To Technical Difficulties Articles From September 2 have been lost.*