http://www.bloomberg.com/apps/news?pid=20601110&sid=aBm18FmufZBI

Haitong Falls in Shanghai as Stake Auction Fails a Second Time
By Luo Jun

July 1 (Bloomberg) -- Haitong Securities Co., China's largest
brokerage by market value, fell in Shanghai trading after a
shareholder failed to auction a stake in the company for the second
time in less...

http://www.bloomberg.com/apps/news?pid=20601087&sid=awAkq2c29lHg&refer=home

Hong Kong Bourse Looks to Russia, Mongolia as China IPOs Falter
By Chia-Peck Wong

July 1 (Bloomberg) -- Hong Kong's stock exchange, facing the worst
market for first-time share sales in five years, began accepting
applications from companies in countries such as Russia and Mongolia...

http://www.bloomberg.com/apps/news?pid=20601087&sid=adlejfzd4vNs&refer=home

China's Manufacturing Growth Slows, PMI Survey Shows (Update2)
By Zhang Dingmin and Li Yanping

July 1 (Bloomberg) -- China's manufacturing expanded last month at the
slowest pace in almost three years, according to a survey of
purchasing managers.
The Purchasing Managers' Index fell to 52 from 53...

http://globaleconomicanalysis.blogspot.com/2008/06/shillers-keynesian-claptrap.h...

Sunday, June 29, 2008

Shiller's Keynesian Claptrap

The proposed solutions to the current economic crisis are getting more
and more absurd. With that in mind, I am going to be blunt.

Robert J. Shiller's article One Rebate Isn’t Enough is the most
ridiculous proposal from an economist I have seen for a long time. And
that's saying a lot.

Shiller proposal is based on totally discredited logic developed by
John Maynard Keynes, that to fix the economy "we should be putting in
place another stimulus package like the current one, and stand ready
for another after that, and another."

It would be impossible to be more wrong. We are in this mess because
consumers and the government were both spending more money than they
have, year in and year out, racking up debts well beyond their ability
to finance them. Financing our consumption boom fell on the backs of
foreigners. In turn the dollar has been collapsing, sending the price
of oil skyrocketing, further adding to consumer woes.

Hey, wait a minute, I thought bin Laden was the mastermind.

The CIA has said it used waterboarding on al-Nashiri and he has alleged he
was tortured.

http://news.yahoo.com/s/nm/20080630/ts_nm/guantanamo_usa_cole_dc_2;_ylt=AorQAx09...

Prosecutors charge accused USS Cole mastermind

By Andrew Gray Mon Jun 30, 5:08 PM ET

WASHINGTON (Reuters) - U.S. military prosecutors have requested the death
penalty for the alleged mastermind behind the bombing of the USS Cole
warship that killed 17 U.S. sailors in 2000, the Pentagon said on Monday.

Abd al-Rahim al-Nashiri, a Saudi Arabian national of Yemeni descent being
held at Guantanamo Bay, Cuba, faces eight charges, including murder and
terrorism, for the attack in the Yemeni port of Aden on October 12, 2000,
that wounded 47 sailors.

Prosecutors have also charged al-Nashiri over a failed attack on another
U.S. warship, the USS The Sullivans, in Aden in January 2000 and an attack
on the SS Limburg, a French supertanker, in the Gulf of Aden in October
2002.

http://online.barrons.com/article/SB121460948834112305.html?page=sp

Gloom and Doom? Nah; Just for the U.S.
By LAWRENCE C. STRAUSS
AN INTERVIEW WITH PETER D. SCHIFF: The U.S. wouldn't be afloat without
help.

PETER D. SCHIFF IS AN EXTREME BEAR WHEN IT COMES to investing in the
U.S., and he's made a name for himself selling his point of view with
considerable zeal, often on television but also in print. Schiff, 43,
has contributed articles to Newsweek International and other
publications, and he is the author of the recently published Crash
Proof: How to Profit from the Coming Economic Collapse. Our own Alan
Abelson cited his musings in a recent column.

However, comparing Schiff's performance with a benchmark is impossible
because he does not run a fund; instead, he recommends stocks for
clients' brokerage accounts. Schiff, who holds a degree in finance and
accounting from the University of California at Berkeley, is president
and chief global strategist of Euro Pacific Capital, a brokerage he
founded in the mid-1990s that emphasizes international stocks,
preferably with dividends.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aLr71mSZqOLI

June 30 (Bloomberg) -- Jim Rogers, who in April 2006 correctly
predicted oil would reach $100 a barrel and gold $1,000 an ounce, said
investors should steer clear of the dollar as the U.S. economy slows
and favor commodities this year.

The dollar has slipped 7.7 percent against the euro and 5.9 percent
versus the yen in 2008 as the Federal Reserve cut interest rates to
stave off a U.S. recession. Oil prices have doubled in the past 12
months, while gold is up 44 percent.

Avoid the dollar ``at all costs,'' Rogers, chairman of Rogers
Holdings, said in a speech in Shanghai today. ``The best investments
in 2008 are commodities and natural resources. Agricultural prices
have much higher to go over the next decade. We have a shortage of
everything, including seeds.''

Oil and metal prices in New York have surged as a slumping U.S.
currency made them cheaper for non-dollar investors to buy as a hedge
against inflation in a slowing global economy. The dollar has
stabilized in recent weeks, with currency volatility falling by the
most since 1999 this quarter.

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN3041264220080630...

WRAPUP 1-Global stocks close dismal 1st half, outlook grim
Mon Jun 30, 2008 6:25pm EDT
By Jennifer Ablan

NEW YORK, June 30 (Reuters) - The worldwide credit crisis that burst
onto investors' radar screens nearly a year ago wiped out some $3.3
trillion in wealth from global stock market wealth in the first half
of this year, and optimism for a second-half recovery is fading fast.

Benchmark stock indexes around the world just wrapped up their worst
first half in six years or even more. For some, most notably the Dow
Jones industrial average, which dropped 14.4 percent in the six months
through June 30, it was the poorest start to a year in nearly four
decades.

Even the superpowers among stock markets in emerging countries,
including China and India, have not escaped the sell-off.

I agree with the texting ban but what's the matter with using hands free
accessories and talking while driving?

"Pump It Up, Bush" crawford.net> wrote in message
news:%%Kcak.599$zv7.415@flpi143.ffdc.sbc.com...

as

while

2008 Congressional Candidate Survey on Immigration Issues

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