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

To: Knighty Tin who wrote (4495)	4/16/2004 12:34:22 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Fed's Broaddus counsels patience on economy, inflation - Friday, April 16, 2004 4:27:34 PM CAMBRIDGE, Md. (AFX) -- More confirmation that the U.S. economy is on a strong growth path is needed before the central bank should consider hiking interest rates, Richmond Federal Reserve Bank President J. Alfred Broaddus said Friday "We are now going to need to watch carefully the incoming information on the strength of the expansion," Broaddus told reporters after a speech here. Broaddus is a nonvoting member of the Federal Open Market Committee, which sets U.S. monetary policy "I think this is a period when we want confirmation," he said Economic reports over the last month have indicated that the economy is strengthening and that the period of super-low inflation may be coming to an end, but he said this was "still a limited amount of information" for policymakers to work with The Federal Reserve can "wait at least a little longer before we make judgments about whether or not the improvement we have seen in the March data is going to persist," he said Broaddus said the consensus forecast that the economy would continue on a solid growth path is "pretty high," adding: "We can't be sure yet." Broaddus also said he was actually happy to see the strong inflation signals in the . It "reinforces my confidence that ... the period of disinflation may be coming to an end and inflation may be bottoming out and that is good in the sense that much more disinflation could easily become problematic." "It makes me a little uncomfortable to say I'm happy to see higher inflation -- obviously, we can't allow that inflation rate to get beyond a rate we are comfortable with," he said Broaddus said he believes the U.S. economy is still "some distance" from an upturn in inflation. If the Fed saw that inflation was not just bottoming out but was on an "upward creep," it would be essential that the Fed act "We are still some distance from that. I personally don't see a strong problem there," he said, asserting that there's still considerable slack in the labor markets fxstreet.com

To: Knighty Tin who wrote (4495)	4/16/2004 1:00:28 PM
From: Tommaso	Read Replies (1) \| Respond to of 116555

I remember that Nancy did not like Regan at all--didn't like seeing him in the White House. That poor woman has sure had her hands full for several years now. Well, let's see what is going on around the world. I spent the morning spreading 4 cubic yards,about a thousand pounds, of hardwood mulch and it feels like the first day of football practice. I may not be able to get out of this chair. I sure envy you your success with silver. Silver has been the bane of my investing experience. After getting a digital camera for Christmas two years ago I finally concluded silver had no future and got out of most of my long held positions. By "long-held" I mean some went back to about 1985. I think commodities in general, and oil in particular, have a long way to go and I can't see anything else much that does. But this stock market is like some lunatic and senile king that has attacks and relapses but never seems to die.

To: Knighty Tin who wrote (4495)	4/16/2004 1:41:43 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

China Chips - some history (note the dates but is this the shape of things to come) theinquirer.net Infineon-SMIC sign major memory deal Chinese firm will make Infineon chips By Mike Magee: Monday 09 December 2002, 07:22 ### eetuk.com Infineon trades technology for capacity at China's SMIC By Mike Clendenin EE Times 9 December 2002 (11:03 a.m. GMT) TAIPEI, Taiwan -- Infineon Technologies AG pushed its technology-for-capacity strategy into the China market on Monday (December 9, 2002), saying it would swap its 0.14-micron DRAM trench technology with Semiconductor Manufacturing International Corp. (SMIC) in return for an exclusive agreement to make standard memory chips for Infineon. The deal also includes an option to trade 0.11-micron technology in future. ### taipeitimes.com TSMC sues SMIC over patent rights HI-TECH ESPIONAGE: TSMC alleges that its Chinese rival made chips according to its patented technologies and also tried to get trade secrets from former employees By Lisa Wang STAFF REPORTER , WITH BLOOMBERG Tuesday, Dec 23, 2003,Page 10 Taiwan Semiconductor Manufacturing Co, the world's largest made-to-order chipmaker, yesterday said it filed a lawsuit against Chinese rival Semiconductor Manufacturing International Corp for patent infringement. "We feel that we have no other choice than to proceed through the courts in order to protect our technology," Dick Thurston, TSMC's vice president and general counsel, said in a statement. In the complaint TSMC also said SMIC has misappropriated trade secrets. TSMC alleged that SMIC, the biggest contracted chipmaker in China, has hired more than 100 former TSMC employees and asked some of them to provide the Chinese foundry entrant with TSMC's trade secrets. TSMC claims that it has evidence showing that SMIC is using some of its patented technologies. ### news.earthweb.com Business News December 22, 2003 TSMC Accuses Chinese Rival of Pirating By Roy Mark Thurston claims SMIC has been systematically infringing on TSMC's patents for several years, but the company has only recently been able to obtain SMIC chips on the open market for an analysis. "It is our obligation to protect our patents and trade secrets to maintain shareholder value," Thurston said. SMIC has three fabrication plants in Shanghai and is building a fourth one Beijing in its quest to become China's first large volume chip maker. The company counts Toshiba and Infineon among its major clients. The company is also negotiating with Motorola to transfer Motorola's semiconductor plant in Tianjin to SMIC.