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Politics : Sioux Nation -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (16465)	5/10/2005 9:04:22 PM
From: Wharf Rat	Read Replies (1) \| Respond to of 361358

Rogue Wave Coming To US Shores? by Charles Mackay, Tuesday May 10 2005 Today's report indicating an abrupt fall in UK retail chain store sales may be a warning sign that the 'rogue wave' - the convergance of the energy crisis, housing bubble, and the explosion of the current account deficit - may be about to hit US shores. The first sign of this may be an unexpected drop in total US retail sales (below expectations of a 0.6% gain), in the report to be issued Thursday. Inflation adjusted, after tax disposable personal income went negative in April, and that consequences of that should show up quickly. On the other hand, we should see a record trade deficit of $64 billion for the month of March - in the report to be released Wednesday. To maintain its standard of living, the US has indirectly called upon all foreigners to contribute more to the US in the form of bigger trade deficits. The subsidy is paid for by the increased financing of the current account by foreigners, especially foreign central banks. wallstreetexaminer.com