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

To: Crimson Ghost who wrote (30612)	5/23/2005 10:42:14 AM
From: mishedlo	Respond to of 116555

Trichet says many euro zone govts set to have 2005 deficits above 3 pct/GDP Monday, May 23, 2005 2:14:20 PM afxpress.com BRUSSELS (AFX) - European Central Bank president Jean-Claude Trichet said many euro zone governments look set to post deficits above the stability and growth pact's limit of 3 pct of GDP this year "While a few countries succeed in maintaining sound budgetary positions, developments in many euro area member states remain disappointing," Trichet told the EU parliament's economic and monetary affairs committee "Unless additional measures are taken, it is looking increasingly unlikely that those countries will reduce their deficits this year below the reference value of 3 pct of GDP or prevent them from exceeding that level," he said

To: Crimson Ghost who wrote (30612)	5/23/2005 1:57:06 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

The message from China globaleconomicanalysis.blogspot.com

To: Crimson Ghost who wrote (30612)	5/23/2005 7:14:01 PM
From: mishedlo	Respond to of 116555

OT - One day is all it takes My next door neighbor bought about 20 gallon sized plants at Home Depot yesterday and came over and asked for "five minutes" of time to discuss where to plant them. He had phlox, delphiniums, coreopsis, salvia, and speedwell (veronica?). Some nice plants. Well I was out side working in my garden transplanting and moving stuff around but how could I not help? 5 minutes turned into 2 hours as I ended up helping him not only plant the stuff he bought but move around the stuff he already had. Oh well he is the newly elected village president as well as the architect that helped design my house so I told him I owed him a favor anyway for all the hours he puts into the village. After we were done I warned him that deer loved phlox and to try some of "Mish's Magic Brew" to keep them away. Well one day is all it took. Overnight his phlox is now half sized if not less. When it comes to deer, one day is all it takes. Mish's Brew Revealed... A couple teasooons of the following combination: Garlic powder Curry powder Red Cayenne Pepper Powder (any other spices you want to throw in probably will not hurt any) But use POWDER not SALT or "seasoning". Seasoning probably has salt in it. Shake that stuff up in a jar (a small olive jar half filled with water works nice) then add a teaspoon or so of dawn or other dish detergent shake it up again and that will make a gallon of spray for a sprayer (fillet it on the soaker setting or you will create a lot of foam). Occasionally the sprayer seems to clog, not sure what on, but just remove the nozzle and blow it out. This clogs far less than "Deer Off" and that concentrate will set you back $20. Besides DEER OFF was clogging my sprayer every 15 seconds at times. Very annoying and worse yet, you need a tootpick to remove a "Deer Off" clog. Mish's Brew is a lot cheaper and you can just just blow out a clog. Deer have not touched my hostas or lilies all year. Mish

To: Crimson Ghost who wrote (30612)	5/24/2005 12:16:18 AM
From: mishedlo	Respond to of 116555

The following is from the Congressional Website, is part of the Congressional Record and is public domain. house.gov Congress and the Federal Reserve Erode Your Dollars May 23, 2005 Last week the US Treasury department issued a warning to the Chinese government with regard to its policy of pegging the value of the Chinese yuan to the US dollar. In essence, the Treasury department accuses China of artificially suppressing the value of its currency by tying it to the dollar, thus making Chinese imports very cheap and worsening our trade imbalance. This kind of bluster may serve political interests, but in reality we have nobody to blame but ourselves for the sharp decline in the US dollar. Congress and the Federal Reserve, not China, are the real culprits in the erosion of your personal savings and buying power. Congress relentlessly spends more than the Treasury collects in taxes each year, which means the US government must either borrow or print money to operate- both of which cause the value of the dollar to drop. When we borrow a billion dollars every day simply to run the government, and when the Federal Reserve increases the money supply by trillions of dollars in just 15 years, we hardly can expect our dollars to increase in value. If anything, the US government should be embarrassed that another nation has depressed its currency by tying it to the US dollar. An economically sound nation would take pride in its currency, one that maintains a stable value and provides incentive for savers. Yet here we are, mad at China for our own sin of flooding the world with cheap dollars. The root of the problem is the Federal Reserve and our fiat monetary system itself. Since US dollars and other major currencies are not backed by gold, they have no inherent value. Their relative values are subject to political events, and fluctuate constantly in highly volatile currency markets. A fiat system means every dollar you have can be eroded into nothing by the actions of politicians and central bankers. In essence, paper currencies like the US dollar operate as articles of faith-- faith in the policies of the governments and central banks that issue them. When it comes to a government as deeply indebted as our own, that faith is sorely lacking among investors worldwide. Politicians often manage to fool voters and the media, but they rarely fool financial markets over time. The precipitous drop in the US dollar over the past few years is proof that investors around the globe are very concerned about American deficits and debt. When investors lack faith in the U.S. dollar, they really lack faith in the economic policies of the U.S. government. Unlike wealthy currency traders, most Americans are stuck with their U.S. dollars. Average people, particularly those who depend on savings or fixed incomes to fund their retirement years, cannot abide the continued devaluation of our currency. A true strong-dollar policy would not depend on the actions of China or any other nation. It would, however, require a constriction of the money supply and higher interest rates, both of which would cause some short-term pain for the American economy. In the long run, however, such a correction is the only alternative to the continued erosion of our dollars.