Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: zonder who wrote (18182)	12/9/2004 12:07:00 PM
From: mishedlo	Respond to of 116555

U.S. Energy Dept sees growing reliance on imported oil [Duh Ya Think?????] Thursday, December 9, 2004 2:58:12 PM afxpress.com WASHINGTON (AFX) -- The U.S. will become increasingly reliant on imported oil in the next two decades, according to the annual energy outlook released Thursday by the Energy Information Agency. Oil imports are expected to grow to 68 percent of U.S. consumption by 2025, the study found. Demand for energy is expected to rise to 133.2 quadrillion Btu by 2025, the EIA said. Natural gas consumption will hit 31 trillion cubic feet and liquid natural gas imports will rise to 6.4 trillion cubic feet by 2025. The price of natural gas is expected to rise to $5.30/Mcf next year.

To: zonder who wrote (18182)	12/9/2004 12:10:01 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Bush: No payroll-tax hike to fund Social Security Thursday, December 9, 2004 4:41:08 PM afxpress.com WASHINGTON (AFX) -- President Bush pledged Thursday that his administration would not increase payroll taxes to pay for his ambitious plan to reform Social Security "We will not raise payroll taxes to solve this problem," Bush told reporters in the Oval Office with Treasury Secretary John Snow at his side. "It's very important for those who have retired to recognize that nothing is going to change when it comes to Social Security. And it's very important for those who are near retirement to understand nothing will change," Bush said. Bush plans to revamp Social Security, established in 1935, because the program is predicted to become insolvent within two decades as baby boomers retire and strain the system Bush and his aides have not defined an age for "near retirement." "I think it's vital to consider allowing younger workers on a voluntary basis to set aside some of their own payroll tax in personal accounts as part of a comprehensive solution to dealing with the Social Security issue," Bush said.

To: zonder who wrote (18182)	12/9/2004 12:14:27 PM
From: mishedlo	Respond to of 116555

U.S. November import prices rose 0.2% - Thursday, December 9, 2004 4:49:09 PM afxpress.com WASHINGTON (AFX) -- Tempered by falling oil prices, the prices of goods imported into the United States rose just 0.2 percent in November, while non-oil import prices rose 0.7 percent, the Labor Department said Thursday The overall rise is the fifth consecutive monthly gain but the smallest increase since June, while the rise in non-oil imports is the largest increase since January Prices of imported oil fell 2.6 percent after spiking a revised 11.6 percent in October, the largest monthly increase since before the war in Iraq Economists polled by CBS MarketWatch had been expecting overall prices to remain unchanged in November "While the weak dollar continues to push up core import prices, the extent of this is overstated within this month's nonpetroleum import price data where natural gas accounted for 0.5 percentage points of the increase," said John Ryding, economist at Bear Stearns in New York. The New York Mercantile Exchange's November contract for natural gas traded at a 19-month high as traders feared stockpiles would not cover winter demand Josh Shapiro, chief U.S. economist at MFR Inc., said non-oil import prices are closer in line to their expected levels as the dollar has declined "If the greenback continues its weakening trend, it is therefore likely that nonfuel import price increases will accelerate somewhat," Shapiro said In the past year, overall import prices have risen 9.5 percent, compared with a 2.3 percent increase in the prior year Oil import prices have risen 60.4 percent over this same 12-month period, while non-oil imports have risen 3.4 percent in the past year "The significance of the import price figures may be less than would seem at first glance, as the data echoes what we've seen in the broader price measures -- big run-ups in prices of crude and intermediate goods but only a limited pass-through to consumer prices," said Steve Stanley, economist at RBS Greenwich Capital Markets Overall export prices rose 0.3 percent in November. Export prices have risen 4.3 percent in the past 12 months Agricultural export prices fell 0.1 percent last month, the fifth decline in six months. Agricultural export prices have fallen 5.2 percent in the past 12 months Prices of imported industrial materials remained unchanged in November, with nonpetroleum supplies rising 2.8 percent. Prices of industrial materials have risen 34.1 percent in the past year Prices of imported autos and imported capital goods each rose 0.2 percent in the month In a separate report, the Labor Department said the number of people filing for state unemployment benefits for the first time unexpectedly rose 8,000 to 357,000 last week. Separately, the Commerce Department said inventories at U.S. wholesalers rose an unexpected 1.1 percent in October

To: zonder who wrote (18182)	12/9/2004 12:18:17 PM
From: mishedlo	Respond to of 116555

U.S. November import prices rose 0.2% - Thursday, December 9, 2004 4:49:09 PM afxpress.com WASHINGTON (AFX) -- Tempered by falling oil prices, the prices of goods imported into the United States rose just 0.2 percent in November, while non-oil import prices rose 0.7 percent, the Labor Department said Thursday The overall rise is the fifth consecutive monthly gain but the smallest increase since June, while the rise in non-oil imports is the largest increase since January Prices of imported oil fell 2.6 percent after spiking a revised 11.6 percent in October, the largest monthly increase since before the war in Iraq Economists polled by CBS MarketWatch had been expecting overall prices to remain unchanged in November "While the weak dollar continues to push up core import prices, the extent of this is overstated within this month's nonpetroleum import price data where natural gas accounted for 0.5 percentage points of the increase," said John Ryding, economist at Bear Stearns in New York. The New York Mercantile Exchange's November contract for natural gas traded at a 19-month high as traders feared stockpiles would not cover winter demand Josh Shapiro, chief U.S. economist at MFR Inc., said non-oil import prices are closer in line to their expected levels as the dollar has declined "If the greenback continues its weakening trend, it is therefore likely that nonfuel import price increases will accelerate somewhat," Shapiro said In the past year, overall import prices have risen 9.5 percent, compared with a 2.3 percent increase in the prior year Oil import prices have risen 60.4 percent over this same 12-month period, while non-oil imports have risen 3.4 percent in the past year "The significance of the import price figures may be less than would seem at first glance, as the data echoes what we've seen in the broader price measures -- big run-ups in prices of crude and intermediate goods but only a limited pass-through to consumer prices," said Steve Stanley, economist at RBS Greenwich Capital Markets Overall export prices rose 0.3 percent in November. Export prices have risen 4.3 percent in the past 12 months Agricultural export prices fell 0.1 percent last month, the fifth decline in six months. Agricultural export prices have fallen 5.2 percent in the past 12 months Prices of imported industrial materials remained unchanged in November, with nonpetroleum supplies rising 2.8 percent. Prices of industrial materials have risen 34.1 percent in the past year Prices of imported autos and imported capital goods each rose 0.2 percent in the month In a separate report, the Labor Department said the number of people filing for state unemployment benefits for the first time unexpectedly rose 8,000 to 357,000 last week. Separately, the Commerce Department said inventories at U.S. wholesalers rose an unexpected 1.1 percent in October

To: zonder who wrote (18182)	12/9/2004 12:42:12 PM
From: mishedlo	Respond to of 116555

U.S. household debt up 9.1% annualized in Q3 Thursday, December 9, 2004 5:17:28 PM afxpress.com WASHINGTON (AFX) - Debt levels of U.S. households increased at 9.1 percent annual rate in the third quarter to $9.95 trillion, the Federal Reserve said Thursday. Household net worth increased about half as fast, rising $545 billion to $46.7 trillion, the Fed said in its quarterly flow of funds report. Total U.S. debt increased at a 7.4 percent annual rate to $23.6 trillion, as federal debt slowed to a 4.9 percent growth. Debt owed by U.S. businesses increased at a 5.1 percent rate, the fastest in five quarters. ================================================================= Watch what happens to those figures if the stock market or housing or both collapse. Mish