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

To: Knighty Tin who wrote (30805)	5/26/2005 12:16:54 PM
From: mishedlo	Respond to of 116555

U.S. April help-wanted index unchanged at 39 Thursday, May 26, 2005 2:42:44 PM afxpress.com WASHINGTON (AFX) -- Help-wanted advertising volumes were flat in major U.S. newspapers in April, the Conference Board said Thursday. The board's help-wanted index was unchanged at 39 in April. "The labor market indicators were soft in April," said Ken Goldstein, chief economist for the board. "Hiring intentions again turned cautious in April." Ad volumes have fallen in seven of nine regions over the past three months

To: Knighty Tin who wrote (30805)	5/26/2005 12:18:49 PM
From: mishedlo	Read Replies (2) \| Respond to of 116555

Senators criticize Snow for being soft on China Thursday, May 26, 2005 2:50:22 PM afxpress.com WASHINGTON (AFX) -- U.S. senators gave Treasury Secretary John Snow an earful Thursday, accusing the administration of being soft on China's currency manipulation. At a hearing on the Treasury's foreign exchange report, Sen. Elizabeth Dole, R-N.C., said she was "astounded" that China had not been officially branded as a currency manipulator. Sen. Charles Schumer, D-N.Y., said Chinese manipulation is destroying political support for free trade deals that end up being one-sided. Sen. Paul Sarbanes, D-Md., praised the administration for moving in the right direction, but complained "I'm not sure it's moved enough yet."

To: Knighty Tin who wrote (30805)	5/26/2005 12:20:35 PM
From: mishedlo	Respond to of 116555

Fed's Gramlich: Congress must support any price targets [What kind of wimp is this guy? - Mish] Thursday, May 26, 2005 3:03:50 PM afxpress.com Fed's Gramlich: Congress must support any price targets WASHINGTON (AFX) -- The Federal Reserve couldn't adopt a formal inflation targeting approach to monetary policy without at least the "vague support" of Congress, said Federal Reserve Governor Edward Gramlich. So far, members of Congress have shown very little interest in the issue and legislation to allow the Fed to adopt inflation targeting has gone nowhere, Gramlich said Thursday in a speech prepared for delivery to a conference in Paris. This lack of support might change, but if it does not, it could become a "definite impediment" to the adoption of inflation targeting in the United States, Gramlich said. And even if inflation targeting were to be accepted, it might spur tension between Congress and the Fed

To: Knighty Tin who wrote (30805)	5/26/2005 12:22:32 PM
From: loantech	Read Replies (1) \| Respond to of 116555

Who is the real President Chumpy or Eye rover?

To: Knighty Tin who wrote (30805)	5/26/2005 12:28:43 PM
From: mishedlo	Respond to of 116555

TRAPPED INSIDE A BUBBLE OF EVER INCREASING CREDIT By Philip Coggan news.ft.com the US Federal Reserve may have learnt the wrong lesson from the Japanese experience of the 1990s. The problem in Japan, Cooper argues, was not that the central bank did too little, too late; it did too much, too soon. It did not prevent the late 1980s bubble but when the crash came it did slash rates. The corporate sector had over-invested during the bubble and, by avoiding an outright slump, this excess investment was never scrapped. The economy became locked into a period of abnormally low interest rates. The Fed is trapped in a similar cycle, says Cooper. Like Sisyphus, it is "attempting the futile task of eternally pushing asset prices up an ever steepening valuation slope".