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To: Jim Willie CB who wrote (3856)	3/31/2003 7:24:05 PM
From: jrhana	Respond to of 5423

<Plunge Protection Team working overtime> It does seem they are desperately trying to keep a lid on the price of gold and a floor under the general equity markets. I wonder how long they can keep it up. It must be costing a lot of money to play these games. I bet the cost of the war will exceed 70 billion. There has got to be limit somewhere.

To: Jim Willie CB who wrote (3856)	3/31/2003 10:08:04 PM
From: Ironyman	Read Replies (1) \| Respond to of 5423

This has everything to do with the next election and setting Cheny(sp?) up for the one after that. eom

To: Jim Willie CB who wrote (3856)	4/1/2003 9:18:18 AM
From: 4figureau	Respond to of 5423

Budget deficit twice as big with alternate accounting method, report says By Jeannine Aversa ASSOCIATED PRESS 1:16 p.m., March 31, 2003 WASHINGTON – The federal government, if it used an accounting method preferred by Federal Reserve Chairman Alan Greenspan, would have turned in a deficit of $365 billion in 2002. That's twice as big as the figure recognized as the official budget deficit number for last year: $158 billion. The larger figure, included in a Treasury report Monday, is based on a method of accounting in which expenses are booked when they are incurred – not when payments are made. "An accrual system would allow us to keep better track of the government's overall accrued obligations and deferred assets," Greenspan told Congress in February. "Accrual-based accounts would lay out more clearly the true costs and benefits of changes to various taxes and outlay programs and facilitate the development of a broad budget strategy," Greenspan said. "In doing so, these accounts should help shift the national dialogue and consensus toward a more realistic view of the limits of our national resources," Greenspan added. To get that dialogue going, it would be helpful to produce more quickly the snapshot of the federal government's balance sheets using the accrual accounting methods, Treasury officials said. The report released Monday is for the 2002 fiscal year, which ended Sept. 30. The House and Senate already have passed their own, different versions of the 2004 budget. Treasury officials hope to improve the timeliness of the report with a goal of producing the 2004 report by Dec. 15 of that year. An increase in the liability for veterans compensation and burial benefits of $157.3 billion was captured by the 2002 $365 billion figure released Monday, but wasn't reflected in the $158 billion deficit figure. That was the main reason for the difference in the two figures, Treasury officials said. The $365 billion shortfall for 2002, compares with a deficit of $515 billion reported for 2001 using the same accrual method. But Treasury officials said the 2002 figure really doesn't represent an improvement in the government's financial status; but rather a statistical quirk related to health care benefits for military personnel. The government has put out reports on its financial status based on the accrual method since 1998, following up on a directive by Congress. signonsandiego.com

To: Jim Willie CB who wrote (3856)	4/1/2003 9:25:19 AM
From: 4figureau	Read Replies (1) \| Respond to of 5423

Bear Roundup: Emerging Market Debt Gets Record Flows as Stocks Fall - Bloomberg (4/1/2003 6:09 AM) quote.bloomberg.com Japan's Biggest Manufacturers Pessimistic on Economy for a Ninth Quarter - Bloomberg (3/31/2003 7:04 PM) quote.bloomberg.com Aerospace industry feels U.S. wrath - Globe&Mail (4/1/2003 6:32 AM) globeandmail.com SARS seen threatening Asian economies - Globe&Mail (4/1/2003 6:34 AM) globeandmail.com

To: Jim Willie CB who wrote (3856)	4/1/2003 9:33:22 AM
From: 4figureau	Respond to of 5423

Heatwave adds to challenge facing troops By Paul Simons and Michael Evans IRAQ is soon to be hit by soaring temperatures and violent sandstorms, according to the latest weather predictions. This week’s forecast is for high pressure building up into a heatwave by the weekend, making conditions for the coalition troops increasingly uncomfortable. After last week’s ferocious sandstorms subsided, cooler northwest winds have brought more pleasant conditions, but towards the end of the week the wind is expected to shift to the southeast, blowing hot air in from Saudi Arabia and picking up humidity from the warm Gulf waters. By Thursday the temperature in Basra is expected to reach 30C (86F), but in the central desert and Baghdad it could hit 33C (91F), possibly even 39C (102F), on Friday. For military personnel inside vehicles and wearing chemical protection suits, the temperature would feel at least 10 degrees higher. Military sources said that every attempt was made to keep equipment cool with fans, but rising heat would cause problems, particularly for troops in older armoured vehicles that have no air conditioning. One of the workhorses of the British Army in Iraq is the Royal Engineers’ 432 armoured vehicle, whose air conditioning consists of “keeping the flaps open”. The longer the war continues, the hotter the climate will get. “The troops who have been out there for several weeks will now be fully acclimatised, but even they will find it increasingly uncomfortable, especially if they have to wear chemical protection suits,” one military source said. The biggest challenge would be for the US 4th Infantry Division, now beginning to arrive in Kuwait, who will have little time to acclimatise before they head to Baghdad. Although it is difficult to predict the weather beyond five days, some computer models are forecasting that Baghdad will reach the low 40s (about 106F) by Sunday. Troops will also be battling against oppressive humidity, which will be particularly bad in places such as Basra, because it is close to the sea. A shamal desert wind is also expected to arrive today, possibly whipping up localised sandstorms. These conditions serve as a warning that the window of weather opportunity for the coalition forces is steadily closing. The heat is going to become an increasing problem because Iraq is one of the hottest places in the world. From June to September temperatures regularly top 38C (100F). timesonline.co.uk