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

To: zonder who wrote (22794)	2/3/2005 12:10:09 PM
From: John Vosilla	Read Replies (1) \| Respond to of 116555

Yes their have been certain areas that have been big winners for sure. I don't consider defense, housing and financial engineering to be true drivers of wealth and a higher standard of living for Americans over the long run. I would have expected something a bit more creative but perhaps we are on a decline and there was no other way out to avoid an economic collapse.

To: zonder who wrote (22794)	2/3/2005 1:00:00 PM
From: mishedlo	Respond to of 116555

ISM services index falls to 59.2% for January - Thursday, February 3, 2005 4:17:33 PM afxpress.com WASHINGTON (AFX) -- Nonmanufacturing sectors of the U.S. economy expanded last month at the slowest pace since September, the Institute for Supply Management reported Thursday. The ISM nonmanufacturing index for January sank to a reading of 59.2 percent from 63.9 percent in December. The fall was larger than expected and put the index at its lowest reading since last September. Economists had been looking for a pullback to 61.5 percent, according to a survey conducted by MarketWatch. "Although the ISM nonmanufacturing index fell by almost five points in January, the level of the index nonetheless remains consistent with solid growth," said economists at Bear Stearns Ralph Kauffman, head of the ISM non-manufacturing survey, said it was too early to say the decline in the ISM service sector was the start of a downward trend Kauffman said the most troubling aspect of the January report was a sharp drop in order backlogs, which fell to 48.0 percent from 56.5 in December. This marked the first time in 21 months that backlogs had been below the 50 percent level New orders fell to 60.5 percent in January from 61.3 percent in December. The employment index fell to 52.2 percent from 55.0 percent. This is the lowest level since July Economists said the weakness was disturbing only one day before the January unemployment report is released, but the decline was not dramatic enough for anyone to slash their forecast for payroll growth. The consensus forecast is for nonfarm payroll to expand by 189,000 jobs in January The prices paid index fell to 66 percent from 73.6 percent, with 37 percent of firms reporting higher prices and 4 percent reporting lower prices Eleven of 17 industries tracked in the ISM gauge expanded in January Readings over 50 percent in the ISM index indicate expansion in the sector. The ISM measures the breadth of economic health across firms, rather than the intensity of growth. The nonmanufacturing index has now been above 50 for 22 straight months

To: zonder who wrote (22794)	2/3/2005 2:05:27 PM
From: mishedlo	Respond to of 116555

AN ANALYSIS OF SENATOR GRAHAM’S SOCIAL SECURITY PLAN Senator Lindsey Graham (R-SC) introduced a Social Security plan in the 108th Congress, reportedly developed with the help of White House staff, that is based on the main plan designed by President Bush’s Social Security Commission. This analysis examines that plan. It also considers the effects of Senator Graham’s subsequent proposal to raise the ceiling on the amount of wages subject to the Social Security payroll tax, which is not part of the plan that Graham introduced. cbpp.org