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

To: zonder who wrote (18153)	12/9/2004 8:56:24 AM
From: Pogeu Mahone	Read Replies (1) \| Respond to of 116555

zonder how come these awards never go to muslim contries or companies???????????????????????????????????? The winners of The Wall Street Journal's 2004 Technology Innovation Awards competition have been announced. Innovators world-wide were considered. The Gold award went to Sun Microsystems Inc of California for a wireless approach to chip design. The Silver award went to Given Imaging Ltd of Yoqneam, Israel for 'PillCam', a tiny camera that patients swallow so that doctors can see their digestive tract. The Bronze award went to InSightec Image Guided Treatment Ltd. of Tirat Carmel, Israel for 'ExAblate 2000', a nonsurgical way to destroy tumors by focusing ultrasound waves on them. This is a wonderful achievement for Israel. From a world-wide search, Israel took two of the top three places. This should be celebrated by us and brought to the attention of the press world-wide. Israel often receives undeserved bad press. Let us counter this with some positive images. Well done Israel !

To: zonder who wrote (18153)	12/9/2004 9:08:25 AM
From: mishedlo	Respond to of 116555

Dutch govt cuts 2005 GDP, deficit forecasts - Thursday, December 9, 2004 8:42:00 AM afxpress.com (Updating with CPB confirmation of new forecasts, adds estimates for 2004, consumption, investment, unemployment, inflation) THE HAGUE (AFX) - The government's central planning bureau (CPB) said it has lowered its forecasts for economic growth and the budget deficit next year in its latest quarterly outlook The CPB now expects GDP growth of 1 pct in 2005, down from an estimate of 1.5 pct in September. The lower forecast is due to higher oil prices, the strong euro versus the dollar, an expected slowdown in global economic growth and Dutch exports, and a fall in domestic purchasing power The euro is expected to average 1.30 usd next year, versus 1.24 in 2004, while the price of Brent crude is seen rising to 40.50 usd a barrel from 39 usd this year. For this year, the GDP forecast was raised to 1.5 pct from 1.25 pct previously. After growth of 1.3 pct already in the first nine months of 2004, the fourth quarter should get a boost from Christmas falling in the weekend, which adds two working days to the quarter, the CPB said. The CPB forecast a rise in private consumption of 0.5 pct this year, with a drop of 0.25 pct in 2005 due to a smaller rise in real wages and an increase in taxes and premiums. Corporate investment in fixed assets is expected to accelerate next year to growth of 2.25 pct from an estimated increase of 1.5 pct in 2004 Inflation is expected to stabilize at 1.25 pct in 2005, equal to this year, as the strong euro and lower supermarket prices offset rising energy costs. Rising unemployment should also limit the increase in wages next year, the CPB expects. Unemployment is forecast at 6.75 pct in 2005, up from 6.25 pct this year. The higher oil prices should lead to higher revenues for the government. This should help reduce the deficit next year to 2.25 pct of GDP, from a previous estimate of 2.6 pct, the CPB expects. That compares to an estimated deficit of 3 pct this year and a reported 3.2 pct in 2003

To: zonder who wrote (18153)	12/9/2004 9:15:08 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

ECB sees upside risks to price stability, says continued vigilance essential [Zonder these guys are simply nuts. Now Perhaps you agree with inflation risks but that is not what I am talking baout. They are talking about possible hikes just BEGGING for the Euro to go up. It makes no sense to be saying stuff like this while bitching about their currency. They should make up their minds IMO or just quit bitching - Finally they just do not seem to get it that rising oil is NOT inflationary. That of course is my view in this current market. Others may disagree that is how I see it - mish] Thursday, December 9, 2004 10:00:46 AM afxpress.com FRANKFURT (AFX) - The European Central Bank reiterated that it is concerned about inflation risks. "There are upside risks to price stability over the medium term. Continued vigilance is of the essence with regard to those risks," the ECB said in its December monthly bulletin. The ECB said the short-term outlook for inflation is worrisome because of high oil prices, but there is no significant evidence yet of a build-up in underlying domestic inflation pressures. The editorial of the bulletin closely matched ECB president Jean-Claude Trichet's introductory statement to the bank's Dec 2 news conference

To: zonder who wrote (18153)	12/9/2004 9:21:15 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

UK Oct global trade deficit widens as imports hit record high [yep that will hurt the british pound. mish] Thursday, December 9, 2004 10:07:02 AM afxpress.com (updating to add analyst comment and sterling reaction) LONDON (AFX) - The UK's trade position with rest of the world worsened in October, with the deficit hitting its highest level since January in an indication that the final quarter of the year started on a weak note, according to official figures released today. The deterioration came as imports of goods in October reached a record 21.517 bln stg -- the highest level since the series began in 1697 At the same time, exports fell some 2.0 pct from September to 16.217 bln stg As a result, the global trade in goods deficit for October widened to 5.3 bln stg from a downwardly revised 4.44 bln stg the previous month Analysts polled by AFX News had expected a more modest widening to 4.8 bln stg. The pound moved back below the 1.92 usd mark on the news, while the euro edged back up 0.68 usd "The data suggests a weak entry point into the fourth quarter," said Mark Miller, economist at HBOS Record oil prices during the month appear to have hurt take up of UK exports abroad but since oil prices have eased a little the trade position may be expected to improve in the coming months, he added Still, National Statistics said 2004 is on course to record the UK's biggest trade deficit ever Trade in oil, however, improved significantly to record a surplus of 203 mln stg in October from the first deficit in 13 years seen in September. Elsewhere, the UK's trade in services surplus narrowed to 1.475 bln stg from 1.515 bln stg in September, taking the overall trade deficit to 3.825 bln stg - the widest level since January. The UK's trade in goods with non-EU countries also widened, reaching 2.939 bln stg from 2.383 bln in September Once again, the latest figure is wider than market expectations. Analysts polled by AFX News had predicted a 2.6 bln stg deficit In the three months to October, the deficit in trade in goods and services totalled 10.444 bln stg, up from 10.373 in the third quarter of 2004 The trade in goods deficit in the three months to October meanwhile rose to a record a deficit of 14.929 bln stg from 14.837 in the preceding 3 month period

To: zonder who wrote (18153)	12/9/2004 9:38:18 AM
From: mishedlo	Respond to of 116555

France´s Musca says euro zone stability pact should be flexible, not changed [This stuff is just too funny. let me reword it so it reads correctly: Musca calls for stability pact change but says the change is not a change. mish] Thursday, December 9, 2004 10:36:52 AM afxpress.com France's Musca says euro zone stability pact should be flexible, not changed PARIS (AFX) - Xavier Musca, director of the French Treasury, called for reforms to make the euro zone's staiblity and growth pact more "flexible" and "smarter," but said these reforms should not change the main criteria of the pact. He said revisiting the pact years after its creation "is natural and positive," and should not be seen as a "failure," speaking at the Euromoney fixed-income forum here Musca called for "more flexibility in the trough of the cycle and more rigour, if necessary, at the peak of the cycle." Philippe Maystadt, president of the European Investment Bank, also speaking at the conference, said there remains "enormous potential for growth in euro debt capital markets." "The stability of government deficits, improvements in economic efficiency, and greater concerted efforts to improve a clearly-defined Lisbon agenda are crucial for growth of the euro zone market," he said. The Lisbon agenda, signed by EU member states in 2000, aims to make the EU the most competitive economy in the world

To: zonder who wrote (18153)	12/9/2004 9:42:08 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

UK high street inflation remains subdued - BRC Thursday, December 9, 2004 10:56:24 AM afxpress.com LONDON (AFX) - High street inflation in the UK remains subdued despite higher fuel and energy costs, the leading retail lobby group said. The British Retail Consortium said its shop price index rose slightly in the year to November to -0.94 pct from October's -1.37 pct "Despite the continued pressure on margins due to higher staffing, fuel and energy costs, retailers have managed to keep prices down," said Kevin Hawkins, director general at the BRC. "Shop prices are lower than at this time last year," he added A benign inflation environment is one of the main reasons why the Bank of England is expected to keep its key repo rate unchanged at 4.75 pct when it completes its latest rate-setting meeting this afternoon