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To: RealMuLan who wrote (58508)	1/8/2005 11:12:49 AM
From: RealMuLan	Respond to of 74559

Billionaire urges Bush to give inaugural funds to tsunami survivors BY MARIA RECIO Knight Ridder Newspapers WASHINGTON - (KRT) - Dallas billionaire Mark Cuban has a suggestion for President Bush: Cancel the inauguration parties and donate the money saved - some $40 million - to the tsunami victims. The irreverent, outspoken Dallas Mavericks owner won't say how much he has given to the disaster victims, but his Dec. 31 proposal on his Web site has generated controversy - and support - on the Internet. "My point was that this was a great opportunity for the president to stand up and say that we are committed to aid, but we need to take a first step towards austerity so we can reduce the deficit," Cuban said Friday via e-mail. "A great way to demonstrate that first step would be to have the inauguration, but cancel the parties and request the uncommitted donations be donated to the relief effort," he said. The Presidential Inaugural Committee, which is raising the $30 million to $40 million needed to cover costs from private donors, doesn't plan to cancel any of the nine inaugural balls or the three "candle light dinners" that donors of $250,000 and $100,000 get with the president and first lady. (Bigger donors get more tickets.) "This unique celebration of American principles will not detract from the relief that President Bush has proposed and the American people are providing for the victims of this disaster," said Jill Willis, spokeswoman for the Presidential Inaugural Committee. "The inauguration is an American tradition that we should continue to honor and celebrate." Asked if it was fair to deny Bush supporters a celebration, Cuban, who said he voted for the president, replied, "Since when is the level of celebration defined by the amount spent?" Former Presidents George H.W. Bush and Bill Clinton, whom the president tapped to head private U.S. fund-raising efforts for the tsunami victims, support the inauguration parties. "I don't think it will help anything in Sri Lanka if the balls were, you know, peeled back in terms of the inauguration," former President Bush said Monday on CNN's "Larry King Live." "I think they're separate questions, and the country - our country - can do a lot of things at the same time." Clinton said on the same program: "I voted for the other fellow, but President Bush won this election fair and square. And he ought to - he ought to be able to have his inaugural. And his supporters should be able to celebrate it, however they see fit. And I don't think that it will detract one red cent from the money that we will give privately or publicly to this relief effort." --- © 2005, Knight Ridder/Tribune Information Services. kansascity.com

To: RealMuLan who wrote (58508)	1/8/2005 12:39:41 PM
From: BubbaFred	Read Replies (1) \| Respond to of 74559

Floating the currency is in the "basic GATT/WTO principles and agreements". However they are often reneged for periods of time. It takes two years to resolve complaints, and that's plenty of time to help with "special protection" to domestic industies - examples are the tarifs on imported steel, the boycott of Canadian beef, and one more on Europe (I forgot what that issue was). That doesn't include US farm subsidies which will remain so for many decades. China may have inferred they will do so by 2007 to give them time to make proper adjustments. They can still loosen it in increments and counter any potential destabilizing impact of yuan speculation and manipulation by using a basket of currencies. When China does so, and if they are successful, there will be other complaints. There are forces that want to destabilize the currency because it is one way of destabilizing China's economy and the progress. Free floating yuan is not likely in the next 20-30 years, not until China's economy has gained enough strength to speculation and manipulation. That's how it should be. Currently US has no leverage because the power behind US economy is largely dependent on financial sector, and not broad based. So alienating China will have greater negative impact on US economy. China's manufacturing products are keeping the low inflation in US, and mitigated the impact of higher energy prices. I think the high energy cost in last four years had been a test of China's and US economies. It is also a gauge on how much China's economy (all inclusive manufacturing and land/sea transportation) can absorb the impact of high energy cost. And how US economy can absorb it. It turns out the greatest impact is on Europe. Otherwise it could result in severe stagflation in the US where hyper inflation exists in a stagnant economic environment, where US consumers' buying power will be substantially reduced and US standard of living would be lowered. The rest of the world (Europe, China, Japan, Canada, etc) don't want such drastic reduction in US consumers' buying power.