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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (23521)	12/17/2004 6:09:22 PM
From: patron_anejo_por_favor	Respond to of 110194

<<Even a couple sloppy days and a good bond market sell off brings out absolutely no fear>> Russ, you need to take a break from this Dismal Science stuff and watch a seasonal movie....it's clear you haven't seen Trading Places in awhile! "Fear? That's the OTHER guys problem!<G>

To: russwinter who wrote (23521)	12/17/2004 6:17:11 PM
From: Crimson Ghost	Read Replies (2) \| Respond to of 110194

Horrible gold stock action today. POG up 5 bucks and the gold stocks ended flat after a late selloff. Looks like we will see significantly lower lows for both POG and the gold stocks before this correction is over.

To: russwinter who wrote (23521)	12/18/2004 1:50:43 PM
From: Ramsey Su	Read Replies (1) \| Respond to of 110194

Andy Xie has suggested in a couple of articles that China should buy shorter durations. I think it is a good idea but I only have one question. If they do that, the longer term treasuries may tank. How is China going to get out of the positions that they already own without taking a big hit? So in theory, if China listens to Xie, they would have to somehow quietly dump all the longer duration instruments first?

To: russwinter who wrote (23521)	12/18/2004 2:07:08 PM
From: ild	Respond to of 110194

Bond Issues Funding Pensions Government agencies are using debt to cover growing retirement costs. Payments could mean program cuts. By Catherine Saillant, Times Staff Writer California public agencies borrowed more money this year to cover employee pensions than they have in a decade, underscoring the struggle of governments to keep pace with the spiraling costs of retirement plans. Borrowing topped $2 billion this year and is expected to continue next year as cities and counties look for ways to cover employee retirement costs without cutting into basic services. Interest on long-term pension bonds will only compound the debt over time. ... latimes.com Healthcare Targeted for Cuts To avoid tax hikes, state finance chief seeks trims in programs for seniors and the poor. He says, 'I will try to do nothing to discourage business.' By Evan Halper, Times Staff Writer SACRAMENTO — California's new budget chief said Friday that the spending plan he was crafting for Gov. Arnold Schwarzenegger included no new taxes and instead relied heavily on cuts to healthcare programs for the poor and elderly to close a projected $8.1-billion gap. ... Medi-Cal's increasing burden on the budget is largely due to the rising cost of healthcare. State spending on each Medi-Cal recipient was about $2,500 in 2000. It is estimated to grow to $4,100 by 2009. Enrollment in the program has also jumped about 20% over the last four years, but analysts project that it will level off at about the current number, with roughly 6.5 million Californians participating. ... latimes.com