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

To: patron_anejo_por_favor who wrote (48808)	3/28/2006 2:59:16 PM
From: shades	Read Replies (1) \| Respond to of 116555

Man talk about no CHILD left BEHIND - patron help me out daddy - I dont understand some of this hard banking stuff on that site. It is made up of seven members who are appointed by the President and confirmed by the Senate. The full term of a Board member is 14 years, That seems like an AWFULLY lot of concentrated power represented by so FEW people. Did the founding fathers like lots of long term concentrated power represented by so few people? yes or no daddy? terms for these positions are four years, but the Chairman and Vice Chairman may be reappointed for additional four-year terms, as long as their term as Board member is active. What was the whole reason for NOT allowing the US president to have more than 2 4 year terms daddy? Why does this same logic NOT APPLY to a fed reserve Chairman - Ravi Batra doesn't like this idea I bet daddy. 9. What is inflation? Inflation means that the general level of prices of goods and services is increasing. Daddy little sally down the road gives mr. mish's kid free sucky sucky but makes me pay 2 quarters and a lollipop - why doesn't mr. federal reserve man track this cost? Mommy says she makes you pay a lot for this service - the oldest in the world she says - she said you had to buy her a new corian countertop and lincoln navigator for your sucky sucky daddy. Daddy little sally charges a lot less than mommy - you are really dumb daddy - WHACK!

To: patron_anejo_por_favor who wrote (48808)	3/28/2006 3:20:16 PM
From: mishedlo	Read Replies (3) \| Respond to of 116555

Massive protests at French job law Strike disrupts train, plane and subway traffic PARIS, France (CNN) -- Hundreds of thousands of protesters packed the streets of French cities and stalled the transportation system Tuesday, protesting a controversial labor law that would allow employers to more easily hire and fire young workers. As the day wore on, police were ordered to clear the Place de La Republic, a large square in central Paris. On one side of the square, police fired tear gas and on another side of the park, police used water canons to fire jets of water at the protesters. In addition to Paris, protesters packed streets in a number of French cities including Lile, Marseille, Bordeaux and Rennes. French Prime Minister Dominique de Villepin told members of his party Tuesday that while is willing to modify the new law -- the contrat premihre embauche or CPE -- he will not back down despite the protests. Villepin has said the new law is necessary to create job opportunities for young people. He proposed the measure after riots last November by youth disaffected with the French way of life. But on Monday night, Interior Minister Nicolas Sarkozy, who may be Villepin's major challenger in next year's run for president, told a meeting of his party -- the Union for a Popular Movement (UMP) -- that it is time for France to change. Speaking to a crowd in the northern town of Douai, Sarkozy said: "I have come here tonight to tell you that it is necessary, urgent, and above all, possible to change our habits and conventions. "We have reached a moment of truth: The French must choose between paralysis and movement." However, Sarkozy said he favored a temporary suspension of the CPE while a compromise is negotiated. The massive protests are in some ways ironic. Protesters, mostly students, are asking the government not to change the status quo. Under current French law, merit in the workplace has little sway. Workers cannot be easily or inexpensively fired. As a result, employers are reluctant to hire new workers, resulting in an overall French unemployment rate of 9.6 percent. The CPE would allow employers to hire and fire workers who are 26 years old and younger any time within their first two years of employment for any reason. Villepin has said he hopes the measure will reduce youth unemployment from the current 23 percent, but union and student leaders say it will create a generation of "throwaway workers" who will have to churn through jobs until they are older than 26. Protesters were focusing on stalling the French transport system. Commuters faced delays on public transport and airports were expected to be hit by stoppages. One flight in three was canceled at airports nationwide, according to the national civil aviation authority. (More on the disruption) Some postal workers, teachers and media employees were also among those striking. Transport workers were the first to strike, stopping work on some railway and subway lines beginning Monday evening. Many trains were still running, including on the Eurostar line to Brussels and London. Opinion polls show almost two-thirds of French people oppose the CPE and unions said 135 rallies were planned across France. Police said they would be out in force because of fears violence could flare, as it did during protests last week when cars were burned. Students take to the streets in Bordeaux, southwestern France.Mass street demonstrations are closely watched in France after protests over pension reforms in 1995 which were widely credited with losing the conservatives the snap election called two years later -- in part on Villepin's advice. Fears of a broader revolt have been fueled by incidents in Paris last week including looting, clashes with riot police and the mugging of student demonstrators by hard-core elements. Earlier this year, Villepin ignored unions and forced the youth job contract through parliament despite reservations from his ministers and some members of the ruling party. Villepin, 52, a former foreign minister who has never been elected to public office, has invited unions and student groups to meet him for talks on Wednesday but it is not clear whether they will accept the invitation. Opposition Socialist Party leader Francois Hollande said on Monday the invitation would be pointless if Villepin was not ready to scrap the youth job contract. "I don't want my country ... to have another meaningless meeting on Wednesday," he said. "The law must be changed." President Jacques Chirac, who appointed Villepin last May, backs him over the CPE. But observers say the prime minister's actions have caused some concern in his own party, although members recognize the need to cut the overall unemployment rate. cnn.com

To: patron_anejo_por_favor who wrote (48808)	3/28/2006 3:23:54 PM
From: mishedlo	Respond to of 116555

Chinese Foreign exchange reserves rising further A State Administration of Foreign Exchange spokesman announced on June 12 that in the first five months of this year, China's State foreign exchange reserves reached $140.91 billion, $l billion up from the end of last year. The steady increase in the reserves, which provides solid support to the stability of the renminbi amid the Asian financial crisis, is attributed to China's favorable balance of international payments, a result of rising exports and a continuous inflow of foreign investment. Analysts said the strong reserves will help the Chinese Government stick to its non-devaluation policy despite the impact of the depreciation of the Japanese yen. Dai Xianglong, governor of the People's Bank of China, expressed his confidence over the stability of the renminbi earlier in June. His view is shared by a senior World Bank officials. China's total foreign trade amounted to $123.69 billion in the first five months of this year, 5.4% more than last year. Exports generated $71.11 billion, an 8.6% increase over last year, leaving the country with a $18.53 billion trade surplus. The delayed impact of the Asian financial troubles took a toll on China's exports. Exports dropped 1.5% in May, ending 22 months of steady growth. The rate in the first four months of this year was 11.6%.Meanwhile, four months of steady growth in imports ended in May when weak domestic demand led imports to drop 2.5%. China imported $52.58 billion worth of goods in the first five months, up 1.5% from the same period of last year. While exports to countries hardest hit by the crisis dropped, foreign trade firms' efforts in tapping new markets have worked. Exports to the United States, the European Union, Russia, Australia, Africa and Latin America have all surged to double-digits in the five-months. Exports to Russia grew 57.4% more than the same period of last year. The United States has surpassed Hong Kong to become the mainland's second largest trade partner. Japan remains China's lead trade partner. Both imports and exports between the two countries increased in the period. China's exports to the United States rose 18.1% to reach $13.34 billion. Imports from US amounted to $6.41 billion, up 2.6%. The processing trade remained the major growth point of China's exports in the first five months. It generated $38.87 billion, jumping 9.5%, or $3.16 billion, from the first five months of last year. Nevertheless, the growth rate of processing trade imports has slowed, indicating that the sector's exports will have a hard time in the near future. Although processing trade imports grew 2.5% during the first months of the year to $26.97 billion, they dropped 6.1% in May. Buoyed by the government's new tax-exemption incentives,capital goods imports by firms with foreign investment swung down, then up. Imports rose to reach $1.4 billion in May. The five-month total volume was $6.02 billion. The export of manufactured products jumped 12.7% to $63.46 billion in the first five months, accounting for 89.2% of the nation's total export volume. chinavista.com