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B4 The Bell Fryday 10/15/04


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A Federal Inflation Conspiracy?

 

Influential Bond Guru Bill Gross Says The Government Is Intentionally Understating The CPI -- And What A Howl That Has Raised

Say it ain't so, Bill!!!

 

He is sooooo toast! That Pimco Investigation is about to be expanded and Gross will suddenly be caught red handed in some scheme to defraud investors, and the next thing you know...he gets disappeared.

 

Meanwhile, this guy just earned himself an invitation to the Lincoln Bedroom:

 

David Kotok of Cumberland Advisors called the fund manager "unduly and extremely harsh," in an Oct. 1 e-mail to clients and leaped to the defense of government economists who "are highly skilled professionals who take their work very seriously" and "do not engage in governmental conspiratorial activities of the type Gross suggests."

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A Federal Inflation Conspiracy?

 

Influential Bond Guru Bill Gross Says The Government Is Intentionally Understating The CPI -- And What A Howl That Has Raised

Great stuff Purdy. I like this one:

Gross also says the feds are adjusting for the fact that if the price of beef goes up, people eat more chicken. Therefore, it doesn't matter so much if a steak costs more. Economists call this phenomenon "substitution bias."

 

Right. And if the price of gas goes up, we all ride our horses? And if the price of health care goes up, we all pray?

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Delta Expects Huge Profits After Firing All Employees

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A Federal Inflation Conspiracy?

 

Influential Bond Guru Bill Gross Says The Government Is Intentionally Understating The CPI -- And What A Howl That Has Raised

You know, whether or not there is a conspiracy to understate the CPI is beside the point. The consumer knows in his gut that the CPI is not representative of the reality he is experiencing, but chooses not to scream about it. Facing up to the ugly spectre of stagflation sucks too much. J6P likes the lies.

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Good Morning Crew- Think China is slowing down-NO! Here is more of how they re-circulate the Greenback...>> from todays Profit Hog..."In 2003 China devoured 40% of the World Cement supply, 90% of the growth in Steel demand and more Copper than was produced. China just signed @ 2 Billion $ order with France's Airbus for 22 new Airliners and a 1.2 Billion $ order with France's Alstrom to supply 60 pasenger trains and 180 freight trains. French Company Suez just signed a 25 year contract to provide water treatment plants for the Shangdong region of China." Those orders indicate the magnitude of China's continued growth had they been placed with the U.S. they would have stimulated the Economy and cut the trade deficit wouldn't they instead it makes Shrub look like the Idiot he is. Window at the bell for 90 minutes, Helmets on, Buckle up and move those stops down! ;)

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An ugly development under the new US-UK extradition treaty, which extends the long arm of U.S. law into the U.K.:

 

Three [british] former NatWest bankers should be extradited to the US to face trial over Enron-related fraud charges, a judge ruled today.

 

The three - Gary Mulgrew, Giles Darby and David Bermingham - have each been accused of seven counts of "wire fraud" by US authorities.

 

Uh huh - 'wire fraud' is one of those 'kitchen sink' derivative charges used when prosecutors don't have anything specific.

 

The Britons pointed out that the UK had shown no interest in prosecuting them.

 

A U.S. attorney representing the bankers spelled out the harsh reality to the British court:

 

He described the US federal justice system as "incredibly unfair", pointing out that 97% of people pleaded guilty to federal offences, arguing: "In most cases they would be mad not to after looking at the sentencing guidelines."

 

One might wonder why the UK signed an extradition treaty with a country whose 'justice' system is 'incredibly unfair.'

 

In its human rights reports, the U.S. used to blast China for its 99% criminal conviction rate, regarded as prima facie evidence of no fair trial or due process.

 

No more ... only a 2% gap to 'catch up' with China's 99% conviction rate. Draw your own conclusions ... you don't need to be a rocket scientist.

 

Workin' on the railroad

 

on one episode of M. Moore's "Awful Truth" it detailed that of 900 people charged with crimes in Sierra County, only ONE went to trial. the other 899 PLEAD GUILTY. doing a few months or year was alot better R/R than taking a chance on doing a couple decades. the PD's Office was empty as were the court rooms, but one PD had become an excellent fly fisherman.

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Good Morning Crew- Think China is slowing down-NO! Here is more of how they re-circulate the Greenback...>> from todays Profit Hog..."In 2003 China devoured 40% of the World Cement supply, 90% of the growth in Steel demand and more Copper than was produced. China just signed @ 2 Billion $ order with France's Airbus for 22 new Airliners and a 1.2 Billion $ order with France's Alstrom to supply 60 pasenger trains and 180 freight trains. French Company Suez just signed a 25 year contract to provide water treatment plants for the Shangdong region of China." Those orders indicate the magnitude of China's continued growth had they been placed with the U.S. they would have stimulated the Economy and cut the trade deficit wouldn't they instead it makes Shrub look like the Idiot he is. Window at the bell for 90 minutes, Helmets on, Buckle up and move those stops down! ;)

B4: What I think it also shows is that China has now decided to find some bagholders for its massive over supply of dollar denominated paper.They buy things now that they need in the future for dollars that are now worth something whereas in the future they won't.

 

Damned cunning these Chinese,wot?

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