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

To: Chip McVickar who wrote (24228)	2/24/2005 11:02:50 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

MASS LAYOFFS IN JANUARY 2005 In January 2005, employers took 1,457 mass layoff actions, seasonally adjusted, as measured by new filings for unemployment insurance benefits during the month, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Each action involved at least 50 persons from a single establishment, and the number of workers involved totaled 150,990, on a seasonally adjusted basis. (See table 1.) The number of layoff events rose by 246 from December and was the highest for any month since January 2004. The number of initial claims due to mass layoff actions grew by 31,341 over the month and was the highest for any month since October 2003. There were 379 mass layoff events in the manufacturing sector during January 2005, seasonally adjusted, resulting in 58,908 initial claims, both higher than a month earlier. Lots more here bls.gov

To: Chip McVickar who wrote (24228)	2/24/2005 1:13:10 PM
From: Haim R. Branisteanu	Read Replies (2) \| Respond to of 116555

as a side remark, the weakness of the USD was mentioned today in the New York Times by Friedman - IMHO it may be a sign of a bottom.

To: Chip McVickar who wrote (24228)	2/24/2005 1:22:16 PM
From: NOW	Read Replies (1) \| Respond to of 116555

of course it all depends what his time frame is... pull up a LT chart of the pound and it tells a very different story. also, despite abundant apparent dollar bearishness, where are the true dollar bears? how many folks, companies or countries have actually moved out of dollars, moved to a dollar neutral position, or are short dollars?

To: Chip McVickar who wrote (24228)	2/24/2005 10:54:35 PM
From: The IB Dude	Read Replies (1) \| Respond to of 116555

I'm a little lost here with respect to the article. Entertaining as it was, and one of the few bullish dollar pieces that I have read, I am at loss over the reasons for being bullish. I'm just trying to figure out if I'm missing something here. The conclusion is that the dollar will remain stable but apart from taking a contrarian stand, what else pushes up the arugment? I mean I keep on reading about the growing argument of unsustainable deficits (7% of GDP) and foreign central banks reluctant to keep buying dollars etc which to me all sound pretty valid arguments for a long term weakness of the dollar, but the article maintained its bullishness without any counter-arguments. Sure there are perma-bears on the dollar and one has to be careful to read too much into them but are there any real meaty propositions as to why the dollar should maintain value based n structural reasons as opposed to ignore the herd mentality?