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B4 the Bell Frythehelloutofthebullday 5704


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#1 Guest_yobob1_*

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Posted 07 May 2004 - 05:45 AM

Nurse Rachet is still on walkabout

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Maybe Nurse Ratchet is staying with Uncle Bucky for a few days?

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Last chance to place your bets before they spin the employment roulette wheel. Here's a clue - don't bet on 0, 00 or Red.

If Rumsfeld were fired would he draw unemployment? Perhaps Rumsfeld and Scalia will be involved in a dual hunting accident where they shoot each other and seal that gaping hole of credibility.

The roughing up in the PMs continues unabated. Still think the bottom in silver lies somewhere between 5.25-5.50. Gold I think is just meandering without any real direction for the moment. I expect this to continue for possibly a month or so.

In a few days the Iraq prison story will be vanquished from the news. No one will notice. The only likely change in true policy will be better control of leakage. Out of sight out of mind.

Taking a couple of days off and camping with my brother in an old mining town several hours west of here. Much smoking of the peace pipe and navel contemplation involved. Thank God for family.

Mother's Day is Sunday. Everyone has one. Perhaps the planet would be a better place if we put the Mothers in charge. At least we would all be wearing our sweaters when they got cold. :lol:

I love how all the poondits are saying high oil prices don't matter this time. The reasoning is the increase has been a steady gradual climb instead of a big jump. It doesn't really matter whether you warm the frog gradually to a boil or drop him straight in to already boiling water, the result is the same - boiled frog. People are chattering about the price of gas. It will and has altered their driving habits. Like maybe fewer shopping trips since they just put their last free dime into the tank? It will affect their buying decisions. Detroit is screwed. Their slim profits are totally reliant on the consumption of gas guzzling SUVs and trucks - they lose money on their cars, especially their fuel efficient small models.

Pimco charged with illegal trading? Geeze, if you piss off Bill Gross will he dump his US bonds and go to cash in Euros?

Geenspan not concerned about trade deficits or consumer debt, but chastizing the administration for lack of fiscal responsibility? When the economy blows apart, he can say see I told you, it was the government's fault. Doesn't sound like he's bucking for another term. And Bush thought he was in charge. Greenspan is playing both his masters and the rest of world for fools. Brilliant.

Best of luck to the traders. Hard to figure how Wank Street wins this one. A good jobs number will incite fear in the bond pits and consternation in equities. A bad number couldn't be good economic indicator for stocks either. So what is the "just right" number? +150,000.

#2

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Posted 07 May 2004 - 06:33 AM

MAD COW.....OUTRAGEOUS


1 May, 2004 Reuters By Bob Burgdorfer and Richard Cowan


CHICAGO/WASHINGTON (Reuters) - The U.S. Department of Agriculture did not test a head of cattle in Texas that displayed central nervous symptoms even though such symptoms could be associated with mad cow disease, USDA officials said on Friday.

Harrison added that early indications were that there "were not any samples taken" from the animal. Asked whether any tissue samples, such as from the animal's brain, were still available for testing, Harrison said, "I do not know."

Beverly Boyd, spokeswoman for the Texas Department of Agriculture, said the condemned carcass in San Angelo was not held back for testing. "There were no tissue samples taken. It was not tested at all," she told Reuters.

Caroline Smith DeWaal, food safety director for the Center for Science in the Public Interest, questioned why USDA may have failed to test the condemned animal.

"If they're not testing the cattle most highly recommended for testing, it would appear USDA is not really looking to find the problem where it may exist," DeWaal said.

http://www.organicco...w/texas5104.cfm



April 30, 2004 SEATTLE POST-INTELLIGENCER by TRUDY BIALIC

Ask the people around you if government safeguards to protect us from mad cow beef are in place now, and chances are they'll say yes. Trouble is, they'd be wrong. The Bush administration announced some new rules Jan. 26 and promised they'd be in effect in a few days. They are still not in place.

Consider that U.S. Department of Agriculture Secretary Ann Veneman picked Dale Moore, former chief lobbyist for the National Cattlemen's Beef Association, as her chief of staff. Veneman chose Alisa Harrison, former director of public relations for the Cattlemen's Association, to be USDA spokesperson. One of her new mad cow committee appointees is William Hueston, once paid by the beef industry to testify against Oprah Winfrey with hopes of convicting her for disparaging beef.

http://www.OrganicCo...ow/fda43004.cfm

#3

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Posted 07 May 2004 - 06:41 AM

Hey Yobob...

Which came first...

Bill Gross speaking the truth about bonds and Fed policy, or the investigation of Pimco?

Gross was saying to sell bonds and bashing Greenspan well before any word of this investigation was made public.

Probably just a coincidence.

Warren Buffet has been slamming the U.S. dollar and talking of a derivatives nightmare. Warren also happens to sit on the board of Coca-Cola. Isn't there a new investigation into Coca-Cola's corporate governance policies?

Probably just a coincidence.

Can you say "Jackbooted Thugs?"

#4 Hiding Bear

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Posted 07 May 2004 - 07:15 AM

10.5. A 10.5 earthquake could happen in the bond market today - or it might be just another day.

Why? In addition to the technical trends clearly indicated in the "Long Bond Hit" report, there are some fundemental reasons (in addition to the unemployment report).

Reason #1 - GSEs still haven't figured out how much their assets are worth and how much they make. But does any one really care? AG tells us to take some Soma and not to worry about these small problems, but what if the market notices these giants don't have any idea what they are doing.

Fannie Mae Is Ordered to Restate Some Losses
By ALEX BERENSON

Published: May 7, 2004

Fannie Mae, the giant housing finance company, has improperly accounted for some of the bonds in its $1 trillion portfolio, a federal regulator said yesterday.

The Office of Federal Housing Enterprise Oversight, which regulates Fannie Mae, ordered the company to recalculate losses on the bonds by next Friday. The recalculation could force Fannie Mae to restate its profits downward, although the oversight office did not order that step.

It is not clear how large a restatement Fannie Mae might have to make. The bonds under scrutiny include $8 billion in securities backed by mobile homes and $300 million backed by aircraft leases. Although the securities make up less than 1 percent of Fannie Mae's portfolio, they have become a focus for critics who say that the company hides losses and is riskier than it appears.


http://www.nytimes.c...s/07fannie.html

Reason #2 - The Gang of 22 is not as short as may appear at first glance, due to some complex hedging for a huge California bond offering and preparations for the Treasury refunding next week.

Reason #3 - Growing recognition of Hubbert's Peak and recognition inflation is gaining traction.

The Oil Crunch
By PAUL KRUGMAN

Published: May 7, 2004
Before the start of the Iraq war his media empire did so much to promote, Rupert Murdoch explained the payoff: "The greatest thing to come out of this for the world economy, if you could put it that way, would be $20 a barrel for oil." Crude oil prices in New York rose to almost $40 a barrel yesterday, a 13-year high.

Those who expected big economic benefits from the war were, of course, utterly wrong about how things would go in Iraq. But the disastrous occupation is only part of the reason that oil is getting more expensive; the other, which will last even if we somehow find a way out of the quagmire, is the intensifying competition for a limited world oil supply.

Thanks to the mess in Iraq — including a continuing campaign of sabotage against oil pipelines — oil exports have yet to recover to their prewar level, let alone supply the millions of extra barrels each day the optimists imagined. And the fallout from the war has spooked the markets, which now fear terrorist attacks on oil installations in Saudi Arabia, and are starting to worry about radicalization throughout the Middle East.


http://www.nytimes.c...ion/07KRUG.html


A little Grot artwork below:

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#5

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Posted 07 May 2004 - 07:30 AM

Kudlow is the guest host on CNBS this morning.
I think we finally get to see his head explode on live TV.

First lie of the morning:

"U.S. Budget Deficate comes in lower than expected"

#6 twignberries

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Posted 07 May 2004 - 07:36 AM

CHICAGO/WASHINGTON (Reuters) - The U.S. Department of Agriculture did not test a head of cattle in Texas that displayed central nervous symptoms even though such symptoms could be associated with mad cow disease

Well, we can't be having the same kind of economic damage to the cattle industry that recently occurred in Alberta, now can we? Fargin hypocrites. Corruption under every rock, behind every door. I'm losing hope.
When the last living thing has died on account of us, how poetical it would be if Earth could say, in a voice floating up perhaps from the floor of the Grand Canyon, “It is done.” People did not like it here.

- Kurt Vonnegut

#7 Ned38

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Posted 07 May 2004 - 07:39 AM

Someone--------{not me because I am lazy and irresponsable} should start a thread listing the lies these thugs and weasels put out

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Posted 07 May 2004 - 07:45 AM

CHICAGO/WASHINGTON (Reuters) - The U.S. Department of Agriculture did not test a head of cattle in Texas that displayed central nervous symptoms even though such symptoms could be associated with mad cow disease

Well, we can't be having the same kind of economic damage to the cattle industry that recently occurred in Alberta, now can we? Fargin hypocrites. Corruption under every rock, behind every door. I'm losing hope.

Just look at a chart of TSN to see the result of this blatant policy:

http://139.142.147.2...=INX&ref_rate=0

The US food supply and exports are at stake...Bird Flu and Mad Cow have been banned by the U.S. Government. They don't exist. All risk has been removed from these companies.

If a few people have to die...so be it. We're at war. We must win at all costs.

The clear message to those of us who know the truth...

DO NOT EAT GROUND BEEF

#9

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Posted 07 May 2004 - 07:48 AM

Someone--------{not me because I am lazy and irresponsable} should start a thread listing the lies these thugs and weasels put out

A pretty extensive one already exists if you follow the link provide earlier regarding the Mad Cow stories. They have accumulated news stories of government lies on any number of subjects.

#10 Ned38

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Posted 07 May 2004 - 07:56 AM

ok---------will check it out

#11 Guest_yobob1_*

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Posted 07 May 2004 - 08:13 AM

Someone--------{not me because I am lazy and irresponsable} should start a thread listing the lies these thugs and weasels put out

A pretty extensive one already exists if you follow the link provide earlier regarding the Mad Cow stories. They have accumulated news stories of government lies on any number of subjects.

It's ok to eat ground beef if you grind your own - which I do. I found an antique industrial strength Oster grinder in a thrift store for $20 and now buy cheap cuts on sale and grind my own. Also lets me control the fat content. I end up with extremely low fat burger at about 60-75% of the price of store bought ground.

oops missed the mark on the quote

#12 DrStool

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Posted 07 May 2004 - 08:18 AM

In The Pits

Despondency, Opportunity or Risk?


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#13 Lock Limit Down

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Posted 07 May 2004 - 08:23 AM

CHICAGO/WASHINGTON (Reuters) - The U.S. Department of Agriculture did not test a head of cattle in Texas that displayed central nervous symptoms even though such symptoms could be associated with mad cow disease

Well, we can't be having the same kind of economic damage to the cattle industry that recently occurred in Alberta, now can we? Fargin hypocrites. Corruption under every rock, behind every door. I'm losing hope.

I heard somewhere it only costs $40.00 per cow for testing
Anyone else?
if its true it is obvious we have a massive problem.
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"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered." --- Thomas Jefferson

#14 Lock Limit Down

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Posted 07 May 2004 - 08:24 AM

Early bond action suggesting a bad number
I would not be a bit surprised
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"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered." --- Thomas Jefferson

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Posted 07 May 2004 - 08:30 AM

Hold on tight!





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