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To: Bobby Yellin who wrote (14884)	7/25/1998 10:35:00 AM
From: goldsnow	Respond to of 116912

Here is a real trick..The faster dollar is strengthening even faster rand is falling..making a relatively steady POG a cash cow... As for the razers I think Gilette is doing very well...

To: Bobby Yellin who wrote (14884)	7/25/1998 10:59:00 AM
From: goldsnow	Respond to of 116912

Missile base threat by Lebed By Marcus Warren in Moscow Loose cannon: General Lebed THE West's nightmare of the Kremlin losing control of Russia's nuclear arsenal moved a significant step closer to reality yesterday when Gen Alexander Lebed, a possible future president, threatened to take over a strategic missile base. In a brazen challenge to Moscow's rule, Gen Lebed complained that the officers of a rocket unit in the Krasnoyarsk region of Siberia were "hungry and angry" after months without pay. He then said he was considering putting the base under local command. "This is a serious unit and the officers are serious," he wrote in an open letter to Russia's prime minister, Sergei Kiriyenko. "And I am seriously thinking of establishing territorial jurisdiction over it." Gen Lebed, elected governor of Krasnoyarsk earlier this summer, raised the spectre of the region defying the rest of the world as India and Pakistan have done with their recent nuclear tests. The letter said: "We in Krasnoyarsk are not rich yet, but in exchange for the status of a nuclear territory we could feed the unit and become a headache for the international community along with India and Pakistan. What else can be done? Hungry officers are very angry officers. In 26 years of army service I came to understand that very well." Coming from a military man, a charismatic politician with an immense following in Russia and a leading contender to succeed President Yeltsin as Russian president in elections scheduled for 2000, his threats will be particularly alarming to the West. The letter was a typically reckless gesture from a figure notorious for his snap judgments, bloodcurdling rhetoric and faith in his own ability to lead Russia. He came third in presidential elections in 1996 and was head of Russia's security council for a short time afterwards before falling out with Mr Yeltsin. According to the general, officers at the Uzhur missile base, believed to be armed with up to 64 SS-18 Intercontinental Ballistic Missiles (ICBMs), have not been paid for five months. He said: "Their wives are storming the headquarters." Krasnoyarsk has one of the largest amounts of nuclear weapons in Russia. Half way between Moscow and the Pacific Ocean, it boasts two other ICBM bases apart from Uzhur, two closed facilities for plutonium production and nuclear waste storage and a factory for submarine-launched ballistic missiles. Threats of mutiny by troops angry at wage arrears and poor housing are a common phenomenon in modern Russia - during the war against Chechen separatists many units refused to fight. However, any move by a local politician to take control of a strategic missile base is far more serious. During a visit to Moscow yesterday US Vice-President Al Gore tried to play down Gen Lebed's threat to take over the missile base. He said: "He's probably just trying to draw attention to the fact that a lot of the officer corps . . . would like to see their back pay." telegraph.co.uk

To: Bobby Yellin who wrote (14884)	7/25/1998 12:33:00 PM
From: PaulM	Read Replies (1) \| Respond to of 116912

"Growth is slowing and it will catch a lot of people off guard" This was written about a week ago. washingtonpost.com

To: Bobby Yellin who wrote (14884)	7/25/1998 12:45:00 PM
From: PaulM	Read Replies (1) \| Respond to of 116912

"been reading all over the place that long bond will continue down" IMO that will prove to be a suckers bet. The U.S. economy is headed for a cyclical downturn and a 10% market "correction" at a time when it can't afford either (meaning they will result in something more). Whether or not this downturn will be accompanied by higher prices, I don't know. But I do know that the view that a downturn/low inflation environment is good for bonds is simplistic. The reason rates haven't fallen farther in the 90's has as much to do with RISK (the country's balance sheet) as inflationary expectations. A year from now, I'm fairly sure the "budget surplus" will not be a major news story.

To: Bobby Yellin who wrote (14884)	7/25/1998 2:21:00 PM
From: goldsnow	Respond to of 116912

Clinton orders government energy-saving steps 01:02 p.m Jul 25, 1998 Eastern WASHINGTON (Reuters) - Saying that global warming was real, President Clinton Saturday said he ordered federal agencies to take additional steps to save energy and help reduce heat-trapping greenhouse gases. ''We are facing squarely the problem of global warming -- but there are still some in Congress who would rather pretend it doesn't exist,'' Clinton said in his weekly radio address. ''Despite mounting evidence, they would deny the science and ignore the warning signs,'' Clinton added. ''Rather than invest in a common-sense strategy to reduce greenhouse gas emissions, they want to cut programs for energy efficiency and renewable energy -- programs that long have enjoyed bipartisan support.'' Clinton said he directed federal agencies to do more to take advantage of a program that allows them to work with private contractors to retrofit federal buildings and other facilities with energy saving technologies. No money is paid up front. Instead the cost of the work is amortized through the energy savings which are shared by the contractors and taxpayers, the White House said. Clinton also said he was ordering federal facilities to replace conventional light bulbs with energy efficient fluorescent lights. He said the energy savings would be nearly five times the cost of installation. He said he is also ordering agencies to work to make their buildings generally more energy efficient and told the Defense Department and six other federal agencies to adopt design guidelines for all new federal buildings that reduce their energy use. ''Together these measures will save taxpayers as much as $1 billion a year in energy costs,'' Clinton said in the address that was taped on Friday for broadcast on Saturday. ''They'll help jump-start markets for new technologies, and they'll protect our environment by reducing greenhouse gas emissions.'' Clinton said the heat wave that gripped much of the South and West for weeks, destroying crops and costing more than 100 lives, is part of the growing evidence that global warming is occurring. ''Certainly, the latest El Nino is partly to blame for the severe weather conditions that have besieged so many communities,'' Clinton said. ''But growing evidence suggests that the extreme and erratic weather we're seeing in America and around the world is being intensified by global warming.'' Copyright 1998 Reuters Limited.