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B4 The Bell Wednesday March 10


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Good morning and welcome to B4 The Bell! :D

 

Japan seeks to escape from deflation. Funny how they do not see trillions of new fiat yen created by the BOJ adding to inflation around the world, with the price of base metals, food, and energy soaring.

 

BOJ Fukui: Sharp FX Moves Make Fighting Deflation Harder

DOW JONES NEWSWIRES

 

TOKYO -- Bank of Japan Governor Toshihiko Fukui said Wednesday that government efforts to curb the yen's strength through intervention were in line with BOJ policy, as sharp exchange rate moves threaten the central bank's fight against deflation.

 

"At this important time when we are on the verge of escaping deflation, disorderly movements in financial markets, including the currency market, can be very damaging," Fukui told an Upper House budget committee.

 

"It is in line with the direction of (BOJ) policy for the government to take appropriate steps in foreign exchange markets," he added. "There is no contradiction."

 

Updated March 10, 2004 12:02 a.m.

 

PS: I'm taking the over on the trade deficit, over the $42 consensus.

 

Off topic:

 

Images Reveal Deepest Glance Into Universe

http://www.nytimes.com/2004/03/10/science/10HUBB.html?hp

post-20-1078921018_thumb.jpg

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Good Morning Crew-window from the bell for 35 minutes, everyone and their dog is expecting a bounce, I expect an up open that will gradually fall apart as the day progresses, so we will see. Ratchet your stops down to lock in profit. After the Trade release today Mark Haines had a different futures guy on named Ira Hayes not the normal wimpy Mr. Feel Good they use. Ira said quote "it is weak here, cause of the $ and creeping PROTECTIONISM and we have been priced to perfection." Haines almost swallowed his gum and said thanks, bye. The point is every once in a while the truth slips out, the wheels are falling off and they know it. I noted this morning an article that says MORE $ are in Mutual funds than at the top-and of course we all know what happened then-don't we! ;)

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Guest yobob1

Remind me not to stick my head in over at IDS. The bull horns sticking through the thin bear suits are so obvious. Lots of we want to feel good and everything will be ok. Also plenty of shoot the messengers. For clarity, I have no desire to see this country turned upside down and gutted. It is happening, and not talking about it or recognizing the realities will not change it. Chronicling it hopefully will make some aware and allow them to react before it's too late.

 

Dallas resale home prices down 3% in Feb. on top of 3% in January. Now if we use the NEW ECONOMY extrapolation theory that's about 30% a year! Repeat after me, real estate never goes down. I can't hear you! Oh, I see you have a massive cranial-rectal insertion problem, no wonder you sound muffled.

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