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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (53472)	2/11/2006 11:52:07 AM
From: ryoung8918	Read Replies (2) \| Respond to of 110194

Russ, appreciate all your work here. I take your opinion of Saturday to mean that "stagflation" is coming? (Which I would define as rising interest rates with a anemic economy) Which would make all that 4.5 percent 30 year debt just sold a very bad investment.

To: russwinter who wrote (53472)	2/11/2006 12:34:33 PM
From: shades	Respond to of 110194

DJ G8:World Bank Wolfowitz:Poor Country Debt Relief On Track MOSCOW (Dow Jones)--World Bank President Paul Wolfowitz on Saturday said he is confident the Bank will be ready to provide full debt forgiveness for its poorest borrowers by midyear. "Wolfowitz confirmed that the World Bank was on its way to complete all the technical work for the full implementation of the (Multilateral Debt Relief Initiative) by July 1, 2006," according to a World Bank statement released after Wolfowitz briefed G8 finance ministers. July is the start of the World Bank's fiscal year. Last year World Bank shareholders agreed to write off 100% of debts owed by 28 countries. They also agreed to replenish the World Bank's trust fund for poor countries to make up the $14 billion cost. Donors haven't yet worked through the "technical" details of the agreement. The International Monetary Fund, owed a smaller share of the debt, began writing off debts at the end of 2005. Wolfowitz welcomed Russia's decision to write off $688 million of debts owed by 16 African countries. -Elizabeth Price, Dow Jones Newswires, +1 202 549 9196, elizabeth.price@dowjones.com (END) Dow Jones Newswires

To: russwinter who wrote (53472)	2/11/2006 12:34:55 PM
From: shades	Respond to of 110194

DJ US Democrats: Bush Budget Hurts Middle Class, Helps Rich TRENTON, N.J. (AP)--The budget proposed by U.S. President George W. Bush adds to middle-class burdens while providing greater benefits for the wealthy and oil companies, Sen. Robert Menendez, D-N.J., said Saturday. "This is a budget that does more than ignore the problems facing the middle class - it actually makes them worse," Menendez said in the Democrats' weekly radio address. "At the same time, the budget includes a wide variety of handouts to the president's special-interest friends, including billions of dollars of wasteful spending that would help add $4 trillion to our nation's debt," said Menendez, the nation's newest senator. Menendez served in the House of Representatives for 13 years until newly elected Gov. Jon S. Corzine appointed him in January to complete the final year of Corzine's Senate term. Menendez said Bush's budget for 2007, released Monday, would increase college costs "by locking in the largest student aid cut in the history of our nation." He also said, "It will increase health insurance premiums and out-of-pocket costs through new schemes that will expand tax shelters for the healthy and the wealthy and drive up costs for the rest of us." Meanwhile, Menendez said: "The president proposes spending $648 billion on tax breaks for those earning more than $1 million. That's more than six times the amount needed to restore the president's proposed cuts in Medicare." The budget "rejects Democratic proposals to crack down on oil company price gouging, even though Big Oil has reaped record profits while gas prices have shot through the roof," he added. Menendez plans to seek a full six-year Senate term, and he is so far unopposed for the Democratic nomination. State Sen. Tom Kean Jr., son of a former New Jersey governor, said he will seek the GOP nomination. (END) Dow Jones Newswires