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


To: Skywatcher who wrote (652212)10/27/2004 1:35:25 PM
From: Hope Praytochange  Respond to of 769670
 
Durable Goods Up on Communications Demand
By THE ASSOCIATED PRESS

Filed at 1:13 p.m. ET

WASHINGTON (AP) -- Orders to U.S. factories for big-ticket durable goods edged up 0.2 percent in September while sales of new homes surged to the third highest monthly level on record.

The Commerce Department said Wednesday that the increase in orders for durable goods -- items expected to last three or more years -- followed a decline of 0.6 percent in August. The August drop had earlier been reported as a more modest 0.3 percent decrease.

In a second report, the department said that new home sales rose 3.5 percent last month to a seasonally adjusted annual rate of 1.21 million units, the third highest level on record behind the record rate of 1.27 million set in March and a rate of 1.25 million in May.

The housing market, fueled by the low mortgage rates, has continued to be red hot with both sales of new and existing homes headed for new all-time highs for the year.

The 3.5 percent increase in new home sales took economists by surprise. They had been expecting a decline. Sales rose a revised 5.8 percent in August following an 8.1 percent decline in August.

The seesaw pattern for durable goods orders over the past two months reflects an economy that is struggling to regain momentum in the face of soaring oil prices, falling consumer confidence and lackluster job creation.

The economy's performance has become a top issue in the presidential campaign with President Bush contending that his tax cuts have laid the stage for stronger growth in the years ahead while Democratic challenger John Kerry argues that Bush's tax cuts represented a windfall for the wealthy while doing little to boost the overall economy.

The 0.2 percent rise in durable goods orders in September was only the third increase of the past six months. Orders were up 1.9 percent in July and 1.3 percent in June after having posted big declines in May and April.

The $417 million increase in orders in September pushed the total for the month to $195.7 billion on a seasonally adjusted basis.

Excluding the volatile transportation sector, orders were up a stronger 1.7 percent last month following a 2.8 percent increase in August.

The rebound last month was led by a 9.3 percent increase in demand for computers and other electronic products, reflecting a 35.6 percent jump in orders for communications equipment.

The strength in new home sales reflected strength in all regions of the country except the West, where sales dropped 0.8 percent in September to an annual rate of 358,000 homes. Sales were up 12.3 percent in the Midwest to an annual rate of 238,000 units and posted a 6 percent increase in the Northeast to an annual rate of 71,000 units.

Sales in the South, where activity was held back by a string of hurricanes, rose by 2.7 percent to an annual rate of 539,000 units.

The median price for a new home -- the midpoint where half the homes sold for more and half for less -- dropped to $197,700 in September, down 8.4 percent from the August median price of $215,900.

On Monday, the government reported that sales of existing homes rose 3.1 percent in September, also hitting the third highest level on record at a seasonally adjusted annual rate of 6.75 million units.

Home sales have been powered by continued low mortgage rates. The average monthly rate on a 30-year mortgage in September was 5.75 percent, down from 5.87 percent in August and 6.15 percent in September a year ago. Last week rates on 30-year mortgages averaged 5.69 percent, the lowest level seen in six months.

With manufacturing job losses looming as a big issue in a number of battle ground states, Kerry has charged that Bush has not done enough to fight unfair foreign trade practices which Kerry contends have triggered a wave of outsourcing as U.S. firms have shipped production abroad.

Overall, the nation's unemployment rate held steady in September at 5.4 percent but payrolls grew by a lower-than-expected 96,000, continuing a string of months when payroll growth has fallen short of analysts' expectations.

The modest rise in durable goods orders followed a report Tuesday showing that consumer confidence fell for a third straight month in October, pushing the Conference Board index to 92.8, its lowest reading in eight months. Analysts blamed the drop in part on the recent surge in energy costs, which has pushed crude oil prices to record highs.



To: Skywatcher who wrote (652212)10/27/2004 1:38:05 PM
From: rokoko  Read Replies (2) | Respond to of 769670
 
This is the fact today Oct. 27, 2004

BUDGET DEFICIT (all time high)
DOLLAR ALL (all time low)
HEALTCARE (people are loosing medical, to expensive, no flue vaccine etc.)
IRAQ MESS (200 billion was already wasted, rather then building America)

Can anyone give me ONE SINGLE REASON why should I vote for Bush?



To: Skywatcher who wrote (652212)10/27/2004 1:38:35 PM
From: Hope Praytochange  Respond to of 769670
 
More Indexes 10/27/2004 1:35 PM ET

NASDAQ 100 1,474.45 +32.31

DJTA 3,471.64 +36.03

DJUA 312.18 -2.36

NYSE 6,643.73 +45.28

RUSSELL 2000 582.64 +5.03

WILSHIRE 5K 10,989.63 +95.85



U.S. Treasurys Close 10/26/2004

5yr Note 3.27 +0.03

10yr Note 4.00 +0.03

30yr Bond 4.77 +0.02



Market Diaries 10/27/2004 1:16 PM ET
NYSE AMEX NASDAQ

New York Stock Exchange
Issues: NYSE

Advancing 1,760

Declining 950

Unchanged 111

Total: 2,821
Issues at:

52 Week High 133

52 Week Low 21
Volume:

Advancing 770,618,660

Declining 389,094,210

Unchanged 12,920,210

Total: 1,172,633,080



To: Skywatcher who wrote (652212)10/27/2004 1:44:26 PM
From: DuckTapeSunroof  Respond to of 769670
 
The percentage of the population that is employed is down significantly --- that is the best way to look at employment.



To: Skywatcher who wrote (652212)10/27/2004 1:44:46 PM
From: Hope Praytochange  Read Replies (1) | Respond to of 769670
 
Holbrooke: "I Don't Know the Truth"
Even his campaign's senior foreign policy adviser can't vouch for the New York Times's "explosive" explosives story. But that isn't stopping John Kerry from using it as a political prop.
by William Kristol
10/26/2004 11:00:00 PM



IT SEEMS THAT Monday's groundbreaking New York Times story on missing explosives in Iraq was certainly not groundbreaking and may not even be true. The allegations that nearly 400 tons of "high explosives" were missing from the al Qaqaa arms dump are based on charges leveled by Mohamed al Baradei, chairman of the International Atomic Energy Agency. The claims are old and increasingly suspect. But that hasn't kept John Kerry's presidential campaign from using the story in a new television ad and in virtually every stump speech and media appearance over the past two days.

Now, however, the Kerry campaign admits that the information that is the basis of Senator Kerry's statements and his campaign advertisement may not even be true. Pressed on Tuesday afternoon about the accuracy of the allegations on Fox's Big Story with John Gibson, Richard Holbrooke, a senior adviser to the Kerry campaign, said: "You don't know the truth and I don't know the truth." He later underscored this point: "I don't know the truth."

That minor issue hasn't kept the Kerry campaign from creating a television ad based on what may well be untruthful claims.

The ad, called "Obligation" shows John Kerry speaking solemnly about the responsibilities of a president.

The obligation of a Commander in Chief is to keep our country safe. In Iraq, George Bush has overextended our troops and now failed to secure 380 tons of deadly explosives. The kind used for attacks in Iraq, and for terrorist bombings. His Iraq misjudgments put our soldiers at risk, and make our country less secure. And all he offers is more of the same. As President, I'll bring a fresh start to protect our troops and our nation. I'm John Kerry and I approved this message.

The claim is, well, explosive. John Kerry says the Bush administration's incompetence is killing U.S. soldiers. Reporting from a variety of news sources suggests that the explosives may have been gone before the U.S. troops arrived. In any case, Kerry's top advisers have conceded that their claims may prove false.

Yet, Kerry has leveled an extraordinarily harsh wartime charge against President Bush.

Shouldn't he at least make sure that such a charge is true?

It also now turns out that CBS 60 Minutes was planning to echo the New York Times story two days before Election Day. So what we have is an attempt by the New York Times, CBS, and a U.N. agency to work together to promote a very likely false story to damage President Bush's reelection prospects. Perhaps no one should be surprised that the liberal media and the United Nations are willing to go to quite extraordinary lengths to promote Kerry's prospects against Bush, but their behavior is not the issue. The issue is Kerry's willingness to advance allegations that his own campaign acknowledges may not be true.

William Kristol is editor of The Weekly Standard.

Previous Campaign Memos:

The Mother Of All Flip-Flops, Today John Kerry says that Iraq is a distraction from the war on terror. What did he think about Iraq in 2001? October 26, 2004
Kerry Will "Put More Pressure on Israel, Another difference between the president and his Democratic challenger. October 25, 2004
Kerry on Zarqawi: Wrong, The Democratic nominee is ignoring the evidence on Zarqawi's activities in Iraq. October 21, 2004
Dying for the United Nations, Why is John Kerry no Clinton-Lieberman Democrat? His obeisance to the U.N. October 20, 2004
John Kerry: Germany's Candidate, The German defense minister says that maybe there's a possibility that they might, someday, perhaps, depending on future "developments," send troops to Iraq. October 13, 2004
Not a Diversion, Was Iraq a diversion from the war on terror? Bush and McCain remind us that the answer is: No. October 6, 2004
The No-Nukes Party, The Mondale Democrats are alive and well in the U.S. Senate--does John Kerry still believe in their worldview? October 4, 2004
When Was He For It (Before He Was Against It)?, John Kerry gives a disingenuous defense of why he said he voted for the $87 billion before he voted against it. September 29, 2004
The Kerry-Kennedy Line, It's a good thing that John Kerry and Ted Kennedy lost the last time they took a stand on Saddam Hussein. September 28, 2004
Kerry's Phony Foreign Forces, Would President Kerry be able to get France and Germany to help share the burden in Iraq? Chirac says, "Non!" September 22, 2004
Nothing To Do With the Truth, John Kerry continues to insist that Saddam Hussein had "nothing to do with al Qaeda." And he continues to be wrong. September 22, 2004
Lugar's Other Comments, The media played up Richard Lugar's recent remarks about President Bush; will they do the same with his assessment of Senator Kerry? September 21, 2004
For Kerry, It's Always Vietnam, The subtext of John Kerry's Monday morning Iraq speech. September 20, 2004
Kerry's Flip-Flopping on Russia, The senator has two views on promoting democracy in Russia, too. September 16, 2004
Wrong Choices, A look at John Kerry's record. September 15, 2004
Another New Kerry Position on Iraq . . . and the same one on Vietnam. September 15, 2004
Kerry and the "Direct Link," The Kerry campaign is distorting Dick Cheney's words. September 13, 2004
Kerry's North Korea Non-policy, John Kerry calls the New York Times with complaints, but no plan. September 13, 2004
If John Kerry Were President, . . . Saddam would still be in power. September 8, 2004
Kerry vs. Kerry, What does "the wrong war in the wrong place at the wrong time" mean? September 7, 2004
The Kerry Record, What John Kerry about foreign policy and defense in 1984 and 1985. September 3, 2004
It Was This Big . . ., Does John Kerry still believe that the terror threat is an "exaggeration"? September 1, 2004
John Edwards: Disrespecting Our Allies, America isn't acting alone. September 1, 2004
No Bargain, The "grand bargain" John Kerry and John Edwards are prepared to offer Iran deserves serious scrutiny. September 1, 2004