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B4 the Bell Fryday, Aug 27, 2004


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#226

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Posted 27 August 2004 - 10:02 PM

Below is a sample of commentary from newspapers around the country examining the reports and questioning Rumsfeld's ability to serve as secretary of defense.

Lexington Herald-Leader Lexington, Ky.
August 26, 2004

"The world, the American people and the Army need to see those responsible for the abuse at Abu Ghraib held accountable.

"That responsibility reaches all the way to the top of the Pentagon's civilian and military leadership, concluded a commission appointed by Defense Secretary Donald Rumsfeld to investigate the mistreatment of prisoners...

"Rumsfeld should resign or be fired. And some of his deputies should go as well...

"The incompetence, botched planning and unrealistic expectations that created the monster at Abu Ghraib are shocking. But Abu Ghraib is also a microcosm of the whole Iraq fiasco."

Seattle Post-Intelligencer Seattle, Wash.
August 26, 2004

"The panel concluded that while direct responsibility for the prisoner abuses lies with the soldiers involved and their immediate commanders, Defense Secretary Donald Rumsfeld and senior generals share the responsibility.

"The panel rejected suggestions that Rumsfeld or other senior officials should resign over its findings. But if Rumsfeld fails to move quickly and decisively on prosecutions and reforms, it will only add to the list of Rumsfeld shortcomings that have spurred this newspaper to repeatedly call for his removal."

St. Louis Post-Dispatch St. Louis, Mo.
August 26, 2004

"The independent panel that investigated the Abu Ghraib prison abuse scandal traced the episode right to the doors of the president, the secretary of defense and the attorney general. But instead of demanding accountability, the panel offered absolution...

"This week's Fay and Schlesinger reports on Abu Ghraib implicated a broader group of soldiers in the abuse. The new reports also place some of the onus for the prison abuse further up the chain of command than previous reports had. Still, Mr. Bush, Mr. Rumsfeld and Mr. Ashcroft continue to escape the full responsibility they bear for creating conditions that led to abuse at Abu Ghraib and besmirching America's reputation for justice and decency."

Fort Worth Star-Telegram Fort Worth, Texas
August 27, 2004

"In the days after the airing of prisoner abuse allegations at Abu Ghraib, administration officials from the White House to the State Department to the Defense Department vowed to follow the process that is the hallmark of the American justice system: Investigate the accusations, determine whether they were valid, hold accountable those responsible and put in place corrective action. . .

"Now that the extent of the abuses is more clearly understood, it would be appropriate for Rumsfeld to once again step before the cameras to show his face as the one who needs to accept responsibility and fix the flaws."

Bangor Daily News Bangor, Maine
August 26, 2004
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"Two reports on the prisoner abuses at Abu Ghraib prison in Iraq come to the same conclusion: The abuses were the result of major leadership failures, not the actions of a small band of rouge soldiers, as Pentagon officials had long asserted. Both reports, released this week, have the same shortcoming, however. They fail to hold the military's top brass accountable for these failures...

"Sen. Susan Collins, a member of the Senate Armed Services Committee, has it right when she says: "I strongly believe that those responsible further up the chain of command should be held accountable. [I]t would be unfair if only the low-level prison guards were punished when the various reports identify individuals ... responsible for creating the conditions that allowed the abuse to occur and for failing to exercise sufficient leadership.

"The reports did part of the job by identifying those responsible for the failures. It is now up to Sen. Collins and her colleagues, as well as the Pentagon, to reform the system so that such failures are not repeated and, as necessary, to discipline those who failed.

Kentucky Courier Journal Louisville, Ky.
August 26, 2004

"The report of the independent panel that investigated abuses of American prisoners in the wake of the Abu Ghraib prison scandal must not be the final word on the subject, but it offers critically important findings.

"Most significant, the four members of an advisory board to Secretary of Defense Donald Rumsfeld rejected forcefully the notion voiced by senior officials, including President Bush, that misconduct at the Iraqi prison was confined to a small number of low-ranking soldiers.

"Instead, the inquiry found a string of failures at all command levels, including soldiers on the ground, the Central Command, the Pentagon and Mr. Rumsfeld's office...

"The voters will decide in November whether the mess in Iraq should cost Mr. Bush his job. But no matter who wins the election, the country needs a new secretary of Defense."

Orlando Sentinel Orlando, Fla.
August 27, 2004
Link unavailable

"After the release of two government reports this week on the abuses of Iraqis at the notorious Abu Ghraib prison, it's no longer plausible to argue that blame is limited to a few rogue soldiers.

"Another report from an independent panel handpicked by Defense Secretary Donald Rumsfeld faulted failures in leadership extending up the chain of command to the Pentagon...

"It could take the United States years to repair the damage done to its reputation by what happened at Abu Ghraib. The best way to start is by holding all those involved accountable, and by acting aggressively to prevent such outrages from recurring."


http://www.americanp...RJ8OVF&b=175517

#227 Hypertiger

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Posted 27 August 2004 - 10:05 PM

Need more debt inflation to postpone the arrival of morbidity a little while longer.

The debt inflation since 2000 has been inadaquate up to this point...

Yes it was enough to astound Doug, Mogambo, and others...But it barely amounted to treading water...

10 Trillion dollars up in smoke...almost 1/3 of the entire debt supply was created in the last 3 1/2 years...a 42% increase in the debt supply...And no not Mad Al...

Desperate consumers swiping credit cards and refinancing, desperate consumers requesting commercial banks for salvation...To postpone game over the insanity we just went through must be topped...A new greater level of insanity to make the previous insanity appear to be normalcy must show up...

The volume of desperate consumers must be perpetually increased faster and faster.

We need volume...Is there enough debt free victims left to sign on the dotted line to buy a few more months or a year?

I hope so...Surely the most worshipful masters can engineer another year of fantasy...
"We are completely dependant on the commercial banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money (at the request of the consumer) we are prosperous; if not, we starve. We are absolutely without a permanent money system.... It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon." --Robert H. Hemphill, Atlanta Federal Reserve Bank,1938...

#228 flockofsheeples

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Posted 27 August 2004 - 10:10 PM

Can i get a govt-guaranteed school loan for those courses?

Have you tried CECO? :lol: :lol: :P
I don't know why they call it hamburger helper...it seems to do just fine on its own-Uncle Eddie, "Family Vacation"

#229 depends

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Posted 27 August 2004 - 10:28 PM

This little chart is setting up real good for a bungie jump, don'tcha think?

volume - or lack of it - was lower than snake shit
buy/sell was up slightly

hedging kept me even this week - shoulda gone fishin'

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#230 Hiding Bear

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Posted 27 August 2004 - 10:37 PM

I told her all stocks go to zero eventually.  You should have seen her face.  It was priceless.  Like I was from another planet.  She was pushing IRAs.  Trotted out her examples...Walmart and Anhueser-Busche...how they've made people rich since the early eighties.  I pointed out that those were two stocks of thousands.  She gave me the usual crap analysis of buy and hold nonsense. 

I believe about 1000 of the NASQWACK stocks listed as of early 2000 have already gone to -0- or near zero. I can not find a link to those statistics right now, but just think about how many stocks including major companies that have totally disappeared - like a field of grass with dew drops fading under the hot sun. :(

Most investors will stick with the "buy and hold" plan - hold a stock all the way to zero. :o Your visitor should get a new life before its too late. :wink2:

#231 wndysrf

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Posted 27 August 2004 - 11:01 PM

Plunger......

OK, I didn't know I offended so many people here.....

I'm just trying to have a sense of humor.

No, I'm not posting more here because Brian4 is gone, I've posted plenty when he's around, and he doesn't seem to mind.

But maybe I'm wrong.

But I'll keep my posts here to a minimum, maybe not post at all.........

I've been hanging out more at Clearstation. More trading ideas there, both short and long, limited discussion about off topic stuff.

I promise I'll back off. I don't want to create any bad vibes over here..........

Good luck, you guys.........
PigMen Proprietary Trading Desk

The Weimar Run: Bullphoria!!!!

#232

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Posted 27 August 2004 - 11:35 PM

I think this past week got on evrybodies nerves. Thankfully its the weekend. Time to recharge the ol' batteries.

#233 Guest_Icky Twerp_*

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Posted 27 August 2004 - 11:45 PM

Poverty in Texas climbs steadily
Census figures indicate more of city's elderly face hard times

Income slipped and poverty increased in Texas and Houston from 2000 to 2003, according to a Census Bureau report released Thursday.

The report, "Income, Poverty and Health Insurance Coverage in the United States," shows the poverty rate of elderly residents in Houston shooting up 2.5 percentage points in a single year, to 11.6 percent in 2003. Texas was one of seven states whose overall poverty rates increased.

The number of uninsured Americans also increased as fewer companies were providing health benefits to workers than in the past, the report said.

Nationwide, the median income of Hispanics fell 2.6 percent and that of foreign-born residents 3.5 percent from 2002 to 2003. And while income held steady overall, the nation's poverty rate crept up.

"Nobody gained very much," said State Demographer Steve Murdock.

Some of the local decline, he said, reflects the fact that much recent population growth in Texas and Houston was created by foreign immigration, especially from Mexico, and many of the newcomers found work in low-income jobs. Meanwhile, immigration from the North, East and South in search of higher-paying jobs has slacked to a trickle.

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#234 Guest_Icky Twerp_*

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Posted 27 August 2004 - 11:57 PM

would you accept "Living in Poverty" as "Income in the lowest quintile"?

I do find it kind of "cozy" that there are "only" 112,000 households in the US...such a manageable and imaginable number.

Income Limits for Each Fifth and Top 5 Percent of Households

Table H-1. Income Limits for Each Fifth and Top 5 Percent of Households
All Races: 1967 to 2003

(Households as of March of the following year. Income in current and
2003 CPI-U-RS adjusted dollars28/)
______________________________________________________________________________
Lower
limit of
Upper limit of each fifth (dollars) top 5
Number __________________________________________ percent
Year (thous.) Lowest Second Third Fourth (dollars)
____ ___________ ___________ ___________
Current Dollars

2003 112,000 $17,984 $34,000 $54,453 $86,867 $154,120
2002 111,278 17,916 33,377 53,162 84,016 150,002
2001 109,297 17,970 33,314 53,000 83,500 150,499
2000 108,209 17,920 33,000 52,174 81,766 145,220
1999 106,434 17,136 31,920 50,384 79,232 142,000
1998 103,874 16,116 30,408 48,337 75,000 132,199
1997 102,528 15,400 29,200 46,000 71,500 126,550
1996 101,018 14,768 27,760 44,006 68,015 119,540
1995 99,627 14,400 26,914 42,002 65,124 113,000
1994 98,990 13,426 25,200 40,100 62,841 109,821
1993 97,107 12,967 24,679 38,793 60,300 104,639
1992 96,426 12,600 24,140 37,900 58,007 99,020
1991 95,669 12,588 24,000 37,070 56,760 96,400
1990 94,312 12,500 23,662 36,200 55,205 94,748
1989 93,347 12,096 23,000 35,350 53,710 91,750
1988 92,830 11,382 21,500 33,506 50,593 85,640
1987 91,124 10,800 20,500 32,000 48,363 80,928
1986 89,479 10,358 19,783 30,555 46,120 78,226
1985 88,458 10,000 18,852 29,022 43,809 73,263
1984 86,789 9,600 17,904 27,506 41,600 69,590
1983 85,290 9,000 16,773 25,718 38,898 64,600
1982 83,918 8,520 16,010 24,560 36,670 61,107
1981 83,527 8,160 15,034 23,396 34,600 56,300
1980 82,368 7,556 14,100 21,610 31,700 51,500
1979 80,776 7,009 13,035 20,025 29,097 47,465
1978 77,330 6,384 12,000 18,146 26,425 42,572
1977 76,030 5,813 10,900 16,531 24,100 38,961
1976 74,142 5,479 10,133 15,423 22,192 35,382
1975 72,867 5,025 9,450 14,246 20,496 32,681
1974 71,163 4,923 9,094 13,400 19,453 31,085
1973 69,859 4,418 8,393 12,450 17,985 28,509
1972 68,251 4,050 7,800 11,530 16,500 26,560
1971 66,676 3,800 7,244 10,660 15,200 24,138
1970 64,778 3,687 7,064 10,276 14,661 23,178
1969 63,401 3,574 6,860 9,920 13,900 21,800
1968 62,214 3,323 6,300 9,030 12,688 19,850
1967 60,813 3,000 5,850 8,306 11,841 19,000

#235 Guest_Icky Twerp_*

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Posted 28 August 2004 - 12:15 AM

The Truth comes to you from your government. . .?

Annual Average Consumer Price Index (1947 - 2003)

I have charted the CPI Change, rather than the cumulative figger...

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#236 Guest_Icky Twerp_*

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Posted 28 August 2004 - 12:55 AM

Official Recessions superimposed on CPI chart...
Recessions
----------------------------------------------
Peak month Year Trough Year
month
----------------------------------------------

November 1948 October 1949
July 1953 May 1954
August 1957 April 1958
April 1960 February 1961
December 1969 November 1970
November 1973 March 1975
January 1980 July 1980
July 1981 November 1982
July 1990 March 1991
March 2001 November 2001

--------------------------------------------

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  • CPI_REC.GIF


#237 Guest_Icky Twerp_*

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Posted 28 August 2004 - 01:05 AM

Gas prices rising again around Arizona

After three weeks of steady decline, gasoline prices around Arizona are on the rise again.

Officials with AAA Arizona said that since last week, the statewide average price of gasoline at the pump has increased by 4.5 cents to $1.93 per gallon.

Nationally, the average price is up just four-tenths of a cent since last week, to $1.87 per gallon



#238 Pee Brain

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Posted 28 August 2004 - 01:07 AM

I don't know about youse guys but I've had one nasty bitch of a week - and that's away from the markets. Oddly people I talked to all over the country were having the same experience. Seems like the effup was pretty much universal. Bad Karma abounds.

A cop gets a cut on a leg, probably because of stupidity and carelessness on his part and the "perp" gets 25 years? Hell he may as well have shot him in the head he would get out sooner. Damn good thing he didn't steal the President's pretzels.
Folks if we don't take back our country pretty damn soon, there won't be anything left to take back.


i havent worked my biz for about 6 weeks, ive been trying to do the exchange thingy and just relaxing some. w/o the overhead of the biz, my monthly nut is like ZERO, even eating sushi too often. im thinking about taking a long sabbatical from "work" and start trading FT. i like getting up in the morning and doing something other than work; plenty of time for the gym, reading and the Internut. starting to feel almost human again. went to the movies tonite with my daughter - i'd say they've seen some price inflation and a drop in quality. i suspect others closing in on 50 will have similar revelations... living frugally may be the best bet as taxes get ratchted up - no use working if you cant keep most of it.

almost an early fall, best time of year here, its just that it usually occurs in late Sept rather than August.
Iat least we're all safe for now. thank God we're in a bowling alley.

#239 Guest_Icky Twerp_*

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Posted 28 August 2004 - 01:08 AM

Used-home sales in Valley slow but still head for record

Arizona Business Gazette
Aug. 26, 2004 12:00 AM


Valley used-home sales took a breather in July from June's chart-topping pace, but the market is still on track to shatter records.

Last month, 8,525 existing homes changed hands in Maricopa County, according to the Arizona Real Estate Center at Arizona State University.

That's a 27 percent drop from June's 11,665 resales.

But overall, used-homes sales in the Valley are still 38 percent ahead of 2003's pace for the first seven months of the year.

The median price of a used home inched up to a record of $176,000 in July. It hit $175,000 in June.



#240 Hypertiger

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Posted 28 August 2004 - 02:47 AM

Poverty in Texas climbs steadily
Census figures indicate more of city's elderly face hard times

Income slipped and poverty increased in Texas and Houston from 2000 to 2003, according to a Census Bureau report released Thursday.

The report, "Income, Poverty and Health Insurance Coverage in the United States," shows the poverty rate of elderly residents in Houston shooting up 2.5 percentage points in a single year, to 11.6 percent in 2003. Texas was one of seven states whose overall poverty rates increased.

The number of uninsured Americans also increased as fewer companies were providing health benefits to workers than in the past, the report said.

Nationwide, the median income of Hispanics fell 2.6 percent and that of foreign-born residents 3.5 percent from 2002 to 2003. And while income held steady overall, the nation's poverty rate crept up.

"Nobody gained very much," said State Demographer Steve Murdock.

Some of the local decline, he said, reflects the fact that much recent population growth in Texas and Houston was created by foreign immigration, especially from Mexico, and many of the newcomers found work in low-income jobs. Meanwhile, immigration from the North, East and South in search of higher-paying jobs has slacked to a trickle.

Guess that 10 Trillion or 42% increase in the total debt supply from 25 Trillion to 35 Trillion since 2000 basically did less than zero...

Treading water...a momentary hovering effect before the death plunge?
"We are completely dependant on the commercial banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money (at the request of the consumer) we are prosperous; if not, we starve. We are absolutely without a permanent money system.... It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon." --Robert H. Hemphill, Atlanta Federal Reserve Bank,1938...





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