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

To: CalculatedRisk who wrote (43627)	12/29/2005 7:15:52 PM
From: benwood	Respond to of 116555

Our debt limit is, in practice, infinity. Guess the number they vote on is for periodic political show, to pretend they are responsible, and to lull bagholders to sleep.

To: CalculatedRisk who wrote (43627)	12/29/2005 8:17:42 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 116555

Why even have a limit? Shop till you drop is now the official US motto. The new coins will replace In God We Trust with the above next year.

To: CalculatedRisk who wrote (43627)	12/30/2005 2:31:07 AM
From: mishedlo	Respond to of 116555

Chicago Turns Down Discounted Venezuelan Oil newstandardnews.net

To: CalculatedRisk who wrote (43627)	12/30/2005 2:36:07 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

The Cost of Gold A Drier and Tainted Nevada May Be Legacy of a Gold Rush By KIRK JOHNSON Published: December 30, 2005 nytimes.com ELKO, Nev. - Just outside the chasm of North America's biggest open-pit gold mine there is an immense oasis in the middle of the Nevada desert. It is an idyllic and isolated spot where migratory birds often alight for a stopover. But hardly anything is natural about it. This is water pumped from the ground by Barrick Gold of Toronto to keep its vast Goldstrike mine from flooding, as the gold company, the world's third largest, carves a canyon 1,600 feet below the level of northern Nevada's aquifer. Nearly 10 million gallons a day draining away in the driest state in the nation - and the fastest growing one, propelled by the demographic rocket of Las Vegas - is just one of the many strange byproducts of Nevada's tangled love affair with gold. [...] Barrick says the effects of its pumping will last at most a few decades. But government scientists estimate it could take 200 years or more to replenish the groundwater that it and neighboring mine companies have removed, with little public attention or debate, as they meet soaring consumer demand for jewelry and gold's price tops $500 an ounce.