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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (12266)	4/20/2004 8:54:41 PM
From: Sully-	Read Replies (2) \| Respond to of 110194

OT somewhat..... I don't know Jim. The Buick Le Sabre now has a $4k rebate & Consumer Reports likes it. I love the effortless power of that 205 HP, sequential port fuel injection, 3.8L v-6. And it really gets 30 mpg on the highway too. We've owned a GM vehicle with various generations of that v-6 for 20+ yrs & it is a rock solid performer. I have yet to find any similar sized car that comes close to the great blend of power & fuel economy. I rented the new Le Sabre for two weeks when I drove to TX a year ago. I thought it was solid, quiet & had a soft but sure footed ride. We love our Olds Intrigue (1st cousin of the Le Sabre). Before that, we had a Regal, preceded by a Grand Prix, preceded by another Regal. Each successive generation of that v-6 allowed GM to increase the power, fuel economy & size of their cars. And we observed the steady improvement in overall quality that went from clearly inferior to what is now quite close to the quality from Japan (albeit still 2nd). With the rebates available now, give me a Le Sabre or Regal from Buick - or the Impala (1st cousin from Chevy) - or a Pontiac Grand Prix (another 1st cousin).

To: Jim Willie CB who wrote (12266)	4/21/2004 9:08:42 PM
From: russwinter	Read Replies (3) \| Respond to of 110194

Reuters UPDATE - China wants yuan float against currency basket-FT Wednesday April 21, 8:04 pm ET (Adds details) LONDON, April 22 (Reuters) - China's foreign exchange chief said Beijing no longer favoured a fixed exchange rate system and was planning to allow the yuan to fluctuate against a basket of currencies, but he did not give a timetable for the shift, the Financial Times reported on Thursday. "We don't think that a fixed system is good. We think that a floating system is good," Guo Shuqing, head of the State Administration of Foreign Exchange control was quoted as saying. The newspaper said Guo had told it that Beijing planned to introduce flexibility into its exchange rate as part of reforms to loosen capital controls and give play to market forces. "This is an integrated, systemic approach. We have done a lot of research [on using a basket of currencies] for a long time. In the past we had such a system. The floating system will also have some reference to a basket [of currencies]," he said. U.S. officials have been pressing China to revalue the yuan (renminbi) (CNY=CFXS), which is pegged at about 8.28 to the dollar, amid criticism that it is keeping Chinese exports unfairly cheap at the cost of U.S. manufacturing jobs. Beijing has resisted pressure to revalue, saying it will make the yuan more flexible by introducing reforms according to its own timetable. Guo had indicated Beijing would not re-peg the yuan at a higher level as he said it was not clear whether the yuan was undervalued, the newspaper reported. Inflows of speculative capital from abroad were easing from an average of $12 billion a month in the first three months of the year to an estimated $11 billion this month, Guo said. China's trade deficit in the first three months of the year, the possibility that capital flows would move towards recovering developed economies and expectations that the U.S. Federal Reserve would raise rates this year were also easing upward pressure on the yuan, he said.