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B4 The Bell Frieday September 17


Hiding Bear

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I FINALLY got my XP-Pro SP2 upgrade pushed out to me the other night. But, it IS disappointing:

 

I have problems with cut-and-paste, sometimes, and

the built-in POPUP blocker doesn't work worth stool.

Go get Mozilla Firefox at www.mozilla.org. When it's installed (v. easy), get the "ad-blocker" extension and install that too. I promise it's the best browser you've ever used. I love it. Because I rely on the same 10 windows or so all the time and hate having to load the bookmarks each time, I've saved them all in a single bookmark folder and Firefox allows me to load all 10 with single keystroke in the tabbed browser. V. fast and convenient, with tons of tweaks and add-ons.

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HB - Yes if you are the family of a RN you get a pass, B.C.'s coastal climate is moderate pretty much identical to Washington and Oregon. House prices aren't bad I'm sure you are looking at Vancouvers prices which are high like San francisco's but the Burbs, Surrey, Langley, Coquitlam etc are not and remember you would be using U.S. $'s with a 35% discount. Vancouver Island outside of Victoria prices are cheap and the scenery is spectacular, the Okanogan has summers like Arizona and moderate winters check out Kelowna, Penticton or Osooyos! ;)

Tanks! ;)

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As you relax tonight, give a thought to the grim plight of Mad Al. He is like a man adrift at sea with no fresh water. Let me explain.

 

Al's running a $1.3 trillion commodity pool (the custody account). The commodity is U.S. Treasurys. Their prices are being pegged at 1.5% on the short end, and 4.2% on the long (10-year) end. However, there are two problems.

 

And on that mournful note, I will hoist another beer -- to you, Mad Al! To your magnificent futility!!

Well done. It will be impossible for this $1.3 trillion dollar/Treasury pool to expand fast enough to meet the expanding federal deficits. There are two constraints that will prevent the 'pool' from expanding fast enough - the amount of savings available in foreign countries - these are effectively transferred from the private savings within those foreign countries to the US through their particpation in the pool - and even more importantly the rapidly expanding budget deficit that creates debt faster than can be absorbed by the market at current interest rates. Or in other words - artifically low "pegged" Treasury bond rates (pegged by foreign central banks not the Fed) reduce demand so low that private lenders refuse to lend. They then seek alternative investments like the market, RE, and PMs.

 

This pool may one day fall apart overnight or may somehow last another year or two. Outside observers wonder just how long this can go on:

 

US Dollar May Devalue Further

Thursday 16 September 2004, 21:56 Makka Time, 18:56 GMT

 

The dollar is likely to be devalued to deal with the booming trade deficit in the United States, raising the prospect of global financial instability.

 

The UN Conference on Trade and Development (UNCTAD) published a report on Thursday indicating the dollar's 20%devaluation against major currencies had so far failed to provide "much of a stimulus" to the US economy.

 

The deficit was forecast to grow further in 2004, while the impact of expansionary monetary policy in the US will be limited by the inflationary impact of rising oil prices, according to UNCTAD.

 

Until recently, European countries would have seen a brisker growth in demand that would have reduced the gap with the US economy and improved the chances of reducing the US deficit "without a major depreciation", Flassbeck added.

 

"I think the time now is over. Sooner or later it is going to happen." UNCTAD estimated that the US current account deficit would reach about six to seven percent of gross domestic product this year.

 

The US has been pressing China to float its currency and allow a rise in the yuan and relieve some of the US trade deficit.

 

But Flassbeck urged China not to float the yuan and "not to give in to international pressure because the result would be totally uncontrollable".

 

http://www.infoshop.org/inews/stories.php?...4/09/17/2339039

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