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Technology Stocks : Micron Sucks! :-) -- Ignore unavailable to you. Want to Upgrade?

To: MythMan who wrote (2856)	6/3/1998 8:16:00 AM
From: eddie r gammon	Read Replies (2) \| Respond to of 3244

You been working for a change (g). Take a look at this. This s$%t is gonna get serious someday (nfg). Did not intend to post the first story but it aint good either. FY97 Govt Budget Expected To Be 1 Trl Yen In Red TOKYO (Nikkei)-The government's general account for fiscal 1997 is likely to be about 1 trillion yen in the red, the largest revenue shortfall in four years, government sources said Tuesday. The deficit arises from lower income and corporate tax revenues, in addition to a sharp fall in receipts from the central bank. Tax revenue is estimated to be some 1 trillion yen lower than forecast in the supplementary budget enacted in December. The government originally predicted an 11% rise in tax revenue from fiscal 1996, taking account of a 2 percentage point rise in the consumption tax in April last year. The actual cumulative tax revenue at the end of April, however, was only 2.8% higher than the figure for fiscal 1996, owing to special income tax cuts and sluggish revenue from income and stamp taxes. Cumulative corporate tax revenue at the end of April fell 5.7% year on year, pointing to a shortfall of about 1 trillion yen in such revenue when corporate taxes are paid at the end of May. These shortages will result in 1 trillion yen less in tax revenue than predicted in the supplementary budget, or 2-3 trillion yen less than forecast in the initial budget for fiscal 1997. Receipts from the Bank of Japan are expected to total only 8.6 billion yen, about 600 billion yen less than for fiscal 1996, due in part to special loans made by the bank to failed Yamaichi Securities Co. and other bankrupt financial institutions. The shortfall of about 1 trillion yen for the year will be covered by the national debt consolidation fund. The amount taken from this consolidation fund must be repaid in fiscal 1999. (The Nihon Keizai Shimbun Wednesday morning edition) N Korea May Expedite Nuclear Weapons Development: Japan Govt Document TOKYO (Nikkei)-Recent nuclear tests by India and Pakistan increase the likelihood North Korea will attempt to develop its own nuclear arsenal, according to a Defense Agency internal document obtained Tuesday by The Nihon Keizai Shimbun. North Korea may have at least one nuclear bomb already, a challenge that may compel South Korea to answer with nuclear weapons of its own, the document asserts. The document on India and Pakistan's nuclear tests and their impact also emphasizes the growing danger of nuclear tension igniting between the two Koreas, between China and India, or somewhere in the Middle East. The recent tests expose the contradictions inherent in the Comprehensive Test Ban Treaty and the Nuclear Nonproliferation Treaty, which limit legitimate nuclear weapons states to the U.S., Russia, the U.K., France and China, the document adds. --------------------------------------------------------------------- erg