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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (3929)	4/8/2004 11:01:04 AM
From: philv	Read Replies (1) \| Respond to of 116555

"30,000 megawats" That's huge. 30 large generating stations....30 nuclear power plants. How can they overcome that? Must be a mistake, no?

To: russwinter who wrote (3929)	4/8/2004 11:14:12 AM
From: DOUG H	Respond to of 116555

"iT AIN'T ME THIS TIME!" Ken Lay

To: russwinter who wrote (3929)	4/8/2004 3:49:55 PM
From: yard_man	Read Replies (1) \| Respond to of 116555

giggle, giggle -- wink, wink (see bold) biz.yahoo.com Leave Rates Alone Thursday April 8, 10:08 am ET Editorial Interest Rates: Now that the job machine has switched back on, we're already hearing calls for a tightening of monetary policy. The logic escapes us. Like everyone else, we rejoiced at payroll data showing 308,000 new jobs in March - and 513,000 in the first quarter. But some aren't content to enjoy this hard-won victory. They want the Fed to move as soon as June to pre-empt inflation. ADVERTISEMENT We see what they see. Prices are indeed rising for many commodities and services - including oil, raw metals and scrap steel, shipping rates, houses, even semiconductor chips. But hiking rates now would be a big mistake - and virtually unprecedented. The Fed almost never raises rates until the number of jobs passes the old high. And with good reason. A long slump in job creation would be disastrous for Americans' confidence in the government's ability to manage the economy. Our own polling shows confidence in U.S. economic policies now at a pessimistic 47.7 - barely above last fall's record low of 47.4. In fully 30% of households surveyed, someone had either lost a job in the last 12 months or feared losing one in the next 12. We're at 130.6 million total jobs - well below the cyclical high of 132.5 million in March 2001. In other words, we need 1.9 million just to back to even. And even that may be low-balling. Since 1960, according to the investment firm International Strategy and Investment, the Fed has held fire until employment was 2.8% above its previous high. Right now, we're 1.5% below. Taking into account additions to the work force since the job slump began - 150,000 to 180,000 people enter the work force each month - we're actually 4 million jobs short. In the roaring '90s, about 219,000 jobs were added each month - and inflation fell. In the first quarter, we averaged a little over 170,000 a month. We too will be watching for signs of inflation. As of now, however, inflation's far too ephemeral and the millions of people who still need jobs, or who still fear losing the jobs they have , are far too real.