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

To: mishedlo who wrote (45434)	1/28/2006 3:36:27 PM
From: shades	Respond to of 116555

Hehe, we have to fix that - not enough roads, bridges, and smoke stacks from refineries - and that child porn picture they have near the bottom is COMPLETELY unacceptable!

To: mishedlo who wrote (45434)	1/28/2006 3:37:25 PM
From: shades	Respond to of 116555

DJ DAVOS: Trichet: Poor-To-Rich Country Cash Flow Not Viable . DAVOS, Switzerland (Dow Jones)--European Central Bank President Jean-Claude Trichet said Saturday that big capital flows from developing countries to industrialized countries are abnormal and unsustainable. "We are the recipients of enormous flows," Trichet said at the World Economic Forum. "It's not sustainable in the long-run that the emerging world would finance the industrial world. "It doesn't correspond to the interest of the emerging world, neither to the interest of the industrialized world." Emerging economies, including big industrial and oil exporters, have accumulated large foreign-exchange reserves and invested most of them on U.S. Treasury bonds in recent years. Other industrialized economies, such as euro-zone countries, have also seen large capital inflows from emerging countries such as China. DJ Trichet: Poor-To-Rich Country Cash Flow Not Viable -2 Trichet was a participant in a panel on the outlook and balances of the global economy. The panel discussion comes as economists are questioning the build-up of foreign reserves by developing countries, which get low returns from investments in securities issued by industrialized nations while facing considerable investment needs on infrastructure or education at home. Former U.S. Treasury Secretary Lawrence Summers, who is currently president of Harvard University, noted that low savings and high consumption rates in the U.S. have sucked "capital out of the developing world." Both Trichet and Summers agreed that the U.S. needs to address its wide fiscal and capital imbalances, but said that some of the large outflows also reflect policies established by developing countries building massive foreign-exchange reserves. To correct such imbalances, developing nations would need to foster domestic demand, add flexibility to their foreign exchange regimes and modify export policies. Palaniappan Chidambaram, India's Finance Minister, speculated that China would need to boost domestic demand. Summers, in turn, also noted that such massive outflows could also be partially explained by the absence of "healthier investment opportunities" at some developing economies. Big oil exporters' high savings rates and investments from have also pushed rates lower in industrialized economies, otherwise, real interest rates would be "substantially higher". By Santiago Perez; Dow Jones Newswires; (34) 618 528 681; santiago.perez@dowjones.com (END) Dow Jones Newswires

To: mishedlo who wrote (45434)	1/28/2006 3:37:51 PM
From: shades	Respond to of 116555

J Japan Study:Cutting US Air Space Could Save Y19B/Yr-Paper TOKYO (AP)--A Japanese government study found that reducing the air space controlled by a U.S. air force base near Tokyo could cut fuel and other costs for civilian flights by Y19 billion annually, a newspaper said Saturday. A Transport Ministry study said civilian aircraft traveling through the region could shorten their flight times and hence lower costs if air space controlled by Yokota Air Base in Tokyo's western suburbs were reduced by 40%, the Yomiuri newspaper reported. The study also found that carbon dioxide emissions would be reduced by 290,000 tons annually as a result, the paper said. Ministry officials were unavailable to comment on the report Saturday. Civilian aircraft flying through Yokota air space must get permission from the base and sometimes have to take longer, less economical routes to avoid restricted areas, the paper said. As part of a comprehensive security agreement signed last October, Japan and the U.S. agreed to explore measures to facilitate moving civilian aircraft through Yokota air space, including possibly reducing the size of the air space. Yokota Air Base is home to the headquarters of three units - the U.S. Forces Japan, 5th Air Force, and the 374th Airlift Wing. (END) Dow Jones Newswires January 28, 2006 06:17 ET (11:17 GMT)

To: mishedlo who wrote (45434)	1/28/2006 3:39:28 PM
From: shades	Respond to of 116555

DJ US Portman:Trade Partners Agree To Simultaneous Offers . DAVOS, Switzerland (Dow Jones)--Countries trying to cut international trade barriers agreed to show their cards all at once in a movement toward compromise, U.S. Trade Representative Bob Portman said Saturday. In the place of World Trade Organization members making individual offers to single countries and waiting for reciprocal moves, there will be simultaneous offers, Portman said, in a press conference at the World Economic Forum annual meeting. (MORE TO FOLLOW) Dow Jones Newswires DJ DAVOS: Trade Partners Agree To Simultaneous Offers -2- . E.U. Trade Commissioner Peter Mandelson agreed with Portman's assessment of a "better mood." He indicated that parties would wait for others to act first, before making their own concessions. Instead the countries would all move together. Mandelson said the negotiators agreed that "everyone has something to gain from these talks if they succeed...that is clearly in Europe's mind." This was clearly a shift in Mandelson's attitude. On Thursday he said that the E.U. had nothing to lose if it walked away from the talks. Mandelson said that the pressure on Europe to cut farm subsidies before other countries reduce tariffs on services and industrial goods had eased. "The mood of Davos has clearly turned away from a desire for unilateral offers on agriculture," Mandelson said. Europe still needs a better sense of what other countries will offer for cutting non-agricultural tariffs, he added. "We have no idea at the moment," he said. (MORE TO FOLLOW) Dow Jones Newswires

To: mishedlo who wrote (45434)	1/28/2006 3:39:46 PM
From: shades	Respond to of 116555

=DJ DAVOS INTERVIEW: Dow Chemical Eyes China's Human Capital . By Santiago Perez Of DOW JONES NEWSWIRES DAVOS, Switzerland (Dow Jones)-- Dow Chemical Co. (DOW) is planning to hire about 600 new staffers at its new research and development facility in China, bringing its total to about 1,000, President and Chief Executive Andrew Liveris said Saturday. "Dow's commitment to China goes beyond physical assets," Liveris told Dow Jones Newswires in an interview. Liveris said on the sidelines of the World Economic Forum that China is now a key source of original research and intellectual property,with 6,000 science and math graduate students graduating every year. In the U.S., in contrast, the number of match and science graduates is just one tenth of that. Dow's research operations in China mirror the importance of a market that is expected to expand at double-digit rates in coming years. Dow Chemical is the leading chemical company in the U.S. The economic emergence of China was among the main topics of discussion at the Davos forum this year. For Dow Chemical, China is its third-largest market after the U.S. and Germany. It has invested about $1 billion since the mid-1980s to widen its commercial presence and build 12 manufacturing facilities. "China is the country I most go to," Liveris said. The company's operations there "are among the most exciting things we're doing." With China's economy expanding at average rates of 8% to 9% each year, Dow Chemical's sales could increase 1.5 or two times as faster than that, according to Liveris. "China is exploding in chemicals and plastic consumption," he added. Dow Chemical's sales in China amounted to $2.3 billion in 2005, compared with $2.2 billion in 2004, which was up about 35% from 2003. When economies industrialize and gross domestic product surpasses $3,000 on a per capita basis, markets sophisticate and consumers begin demanding more plastics and chemicals, Liveris said. At current growth levels, Dow Chemical's operations in China are expected to beat its U.S. division within two or three decades. With about $10 billion in fixed assets, Dow Chemical's operations in the U.S. generated $24 billion in revenue last year. The company is also developing a "multibillion" coal-to-olefins manufacturing facility in central China, in partnership with Shenhua Group, China's largest coal producer. Dow Chemical is currently conducting full-feasibility studies of the plant, which would convert coal to olefins, or petrochemical derivatives used to make plastics, as chemical intermediates and as industrial solvents. Liveris said the company expects to start detailed engineering plans next year. He declined to give specific investment figures. "I don't want my competitors to know," he said. -By Santiago Perez; Dow Jones Newswires; (34) 618 528 681; santiago.perez@dowjones.com

To: mishedlo who wrote (45434)	1/28/2006 5:50:32 PM
From: regli	Respond to of 116555

These are simply incredibly beautiful images. Great places and great photography.