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

To: Crimson Ghost who wrote (17378)	12/2/2004 10:44:00 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

what is changing is the market is hell bent on forcing someone to cure the trade deficit and deficit spending. Bush can either cut spending, raise taxes, or the market will be hell bent on forcing consumers to cut spending. The only way to force that will be to kill housing. Rising variable rate loans and rising 10-yr yields will do just that. Of course it will throw the world into a worldwide recession, but one was coming sooner or later anyway. Mish

To: Crimson Ghost who wrote (17378)	12/2/2004 10:48:47 AM
From: mishedlo	Respond to of 116555

UK pre-budget report economic forecasts seen as "optimistic" by EEF Thursday, December 2, 2004 2:06:58 PM afxpress.com LONDON (AFX) - British manufacturers' organisation EEF, formerly the Engineering Employers' Federation, said the economic forecasts contained in Chancellor Gordon Brown's economic forecasts are "optimistic." EEF added that many businesses are concerned that taxes will rise if economic growth falls short of Brown's projections "Manufacturers will breathe a sigh of relief because they have been left alone in this pre-budget report," an EEF spokesman said "But many will still fear that they will get a knock on the door in the next parliament if Gordon Brown's forecasts don't come true." He said the Brown's forecasts are "on the optimistic side," adding that EEF is planning to downgrade its own economic predictions for 2005 Brown said in his pre-budget report that economic growth next year will come in at 3.0-3.5 pct, unchanged from his budget forecast in March, but above the 2.5 pct rate pencilled in by independent economists But EEF welcomed Brown's pledge to extend employee training pilot schemes, and his commitment to boosting research and development