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

To: CalculatedRisk who wrote (49723)	4/17/2006 1:10:47 AM
From: mishedlo	Respond to of 116555

China bans ship traffic near median line with Japan BEIJING (AFX) - Chinese maritime authorities have banned ship traffic in an area of the East China Sea near the median line with Japan for expansion work of the Pinghu gas field, Kyodo news agency reported. Citing Japanese embassy sources in Beijing, it said the area concerned straddles the median line, which serves as the border between the two countries and extends into Japanese waters. The sources said the Japanese government is inquiring with the Chinese side as to the facts of the situation. Japan is expected to lodge a protest, which regards the median line as separating the two countries' 200-nautical-mile exclusive economic zones. forbes.com

To: CalculatedRisk who wrote (49723)	4/17/2006 1:24:29 AM
From: mishedlo	Respond to of 116555

views of Associate Director of Research / Federal Reserve Bank of San Francisco Glenn Rudebusch, Senior Vice President and Associate Director of Research at the Federal Reserve Bank of San Francisco, states his views on the current economy and the outlook: A second key risk is that we may be underestimating the effect of the past tightening of monetary conditions on the economy. For example, the economy, and particularly the housing sector, may be especially sensitive to the past monetary tightening already in train. The housing sector has been an important source of support during this expansion—especially through the large increases in housing wealth. Even after correcting for inflation, recent prices have been increasing about 10 percent per year. Although we do not anticipate these recent gains to continue, there is a risk that a more marked slowdown might have more precipitous effects than we anticipate. The recent removal of monetary accommodation has started to have some effect on mortgage rates, which should damp housing demand. Indeed, by one survey measure, home buying attitudes have soured recently, as the number of people assessing that this is a bad time to buy a house doubled in 2005. This shift in attitudes is consistent with evidence that home sales have cooled a bit from their record pace. There are a host of other risks to the forecast as well, including those related to the trade deficit, energy prices, the federal fiscal deficit, productivity growth, bond term premiums, and the household saving rate. Over the past 45 years, the real funds rate has averaged about 2-1/2 percent, which is probably close to the center of a neutral range for monetary policy. Monetary policy now appears to be positioned at the upper end of this neutral range, but the future path of policy is quite uncertain and very dependent on how the incoming data shape the outlook. Interesting charts frbsf.org frbsf.org

To: CalculatedRisk who wrote (49723)	4/17/2006 1:35:01 AM
From: mishedlo	Respond to of 116555

Market Action and Information John P. Hussman, Ph.D. hussmanfunds.com

To: CalculatedRisk who wrote (49723)	4/17/2006 9:26:01 AM
From: shades	Respond to of 116555

As an aside: I remember being in Arabia in '79 ... it seemed the Saudi people really loved gold. Why did they LOVE shiny metal molecules? I read many articles all over the internet of people in these foreign lands stealing/bartering medicine, movies, dvd's, cd's, software, counterfeited clothes, hardware etc etc Russ Winter just took a trip to China - I didn't hear him talking about gold bars going back and forth amongst the people at the markets - he did talk about fake tommy bahama shirts though. I think he said they were labeled tonny bahama. Hu Jintao is coming to the states - he is going to the house of that fool that dressed up like Spock - Billy Gates - not goldbugs like marc faber - that silly Jintao!