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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (513006)	12/19/2003 12:25:58 PM
From: Skywatcher	Read Replies (3) \| Respond to of 769670

It went to IRAQ...HALLIBURTON....KEN LAY.....CARLYLE..... CC

To: Kenneth E. Phillipps who wrote (513006)	12/19/2003 12:40:38 PM
From: DuckTapeSunroof	Respond to of 769670

M3 has been declining for about 6 months now.... I believe that the decline correlates closer with the dollar's decline --- and the sharp fall in the willingness of foreigners to buy our debt or equities. (Even foreigners catch on after a while that the dollar decline has turned their investments into losers....) I believe that this is likely only the early innings of a long-term game. As far as 'inflation' goes, it is only moderate by one measure: CPI. The equally, if not more important measure of producer price inflation, PPI, is showing sharp increases. PPI is generally understood to indicate pricing 'pressures' that are building up in the system --- before they ever show up in the consumer numbers. The SHARP increases in nearly all industrial commodity prices (especially when measured in dollars), copper, timber, oil, etc. --- seem to confirm the dominant trend also. Only the lack of pricing power by manufacturers (largely because of the deflationary impact of China as the 'world's lowest cost manufacturer) is keeping price inflation in manufactured goods from emerging.... and that may remain true until China revalues it's currency.