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

To: GROUND ZERO™ who wrote (659057)	11/9/2004 9:59:06 AM
From: TigerPaw	Read Replies (1) \| Respond to of 769667

Okay where's my loss? Here's but one category "There's a good reason why, in the last year of an election cycle, the market goes up -- because politicians do what it takes to make sure it does," said Bill Fleckenstein of Fleckenstein Capital Inc. in Issaquah, Wash., which runs a hedge fund designed to profit from falling stock prices. "The first year is never so good because it's the hangover from the fourth year. "2005 is going to be a nightmare," Fleckenstein said. "We've been so focused on the election that nobody's been paying attention to the fact that the economy is losing altitude." The economy expanded at an annual rate of 3.7 percent in the third quarter as rising oil prices contributed to a record trade deficit. Economists foresaw 4.3 percent growth, based on the median forecast in a Bloomberg survey. Fed policy-makers are widely expected to raise short-term interest rates another quarter-point when they meet Wednesday. The central bank has raised its benchmark rate three times since June, from 1 percent. Based on futures markets, traders see about an 80 percent chance of another increase at this year's final policy meeting on Dec. 14. The odds jumped from 50 percent on Nov. 4 after the Labor Department reported that 337,000 jobs were created in October, almost twice as many as forecast. Historically, either below-average gains or declines in stocks have followed a series of Fed rate increases, according to Ned Davis Research in Venice, Fla. statesman.com`NUOcN]UbTTUWUXUUUZT[UUUWUcU_UZUcUcUcTYWVVZV