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

To: zonder who wrote (17042)	11/29/2004 8:44:07 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

ECB´S Trichet calls on US to reduce budget deficit Monday, November 29, 2004 10:48:07 AM afxpress.com ECB'S Trichet calls on US to reduce budget deficit FRANKFURT (AFX) - European Central Bank president Jean-Claude Trichet has called on the US to reduce its budget deficit, saying this will help facilitate a "gradual and smooth correction" of the ballooning US current account deficit "As regards the large and growing US current account deficit, I believe that a gradual and smooth correction of this deficit would be facilitated considerably by an increase in the savings rate in the US economy, implying both a reduction in public dissavings (deficits) and an increase in personal savings," Trichet said in a letter to a member of the European Parliament's Monetary and Economic Affairs Committee

To: zonder who wrote (17042)	11/29/2004 8:48:39 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Northern Iraqi oil pipeline hit by bombs; oil flow cut 80 pct Monday, November 29, 2004 1:18:43 PM afxpress.com SAMARRA, Iraq (AFX) - Twin explosions hit an oil pipeline in northern Iraq, disrupting the flow of oil, an official said. The targeted pipeline connects Baiji and Dura refineries some 200 kilometres north of Baghdad, said Majid Mannun, chief engineer for the Baiji plant. "Two explosive devices hit this pipeline, the first one at around 8:40 am (0540 GMT) and the second ten minutes later, reducing the flow of oil by 80 pct," he said These refineries provide power to large swathes of northern and central Iraq, but the engineer was not able to say for how long the flow would be disrupted or whether it would affect power supply in the region. A nearby pipeline, linking Baiji refinery to northern oil fields, was hit on Nov 25, despite the recent deployment of a 2,000-strong Iraqi security force to protect oil infrastructure