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Posted by BradyNet ( Friday, August 29, '03 )

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GLOBAL MARKET HIGHLIGHTS

IMF pessimistic on UK growth 08-29-03 (guardian.co.uk) The International Monetary Fund last night raised fresh doubts about Gordon Brown's forecasts for the economy when it cut its assessment of UK growth both ADVERTISEMENT this year and next and expressed concern about Britain's inflation-prone housing market.

GDP Grew at Revised 3.1% Clip in 2Q on Consumer Spending 08-29-03 (Yahoo) WASHINGTON -- The U.S. economy grew at a faster pace in the second quarter than previously estimated as consumers spent at a stronger pace than previously thought.

Answers needed now on natural gas problem 08-28-03 (boston.com) GET READY FOR dire predictions about a long, cold -- and expensive -- winter. Already we are being warned of a natural gas shortage of "crisis" proportions. Interior Secretary Gale Norton used that word recently while speaking to the Natural Gas Roundtable in Washington. Federal Reserve Chairman Alan Greenspan -- without using the C word -- also sounded the alarm about rising natural gas prices.

IMF warns US over mounting deficit 08-28-03 (Financial Times) The US will remain the main engine of growth for the global economy but needs a plan to control its swelling budget deficit, the International Monetary Fund has warned.

IMF: U.S. Too Upbeat on Budget, Lacks Plan 08-28-03 (Yahoo) MILAN (Reuters) - The International Monetary Fund (news - web sites) is set to reproach the U.S. in its next World Economic Outlook for being too optimistic in its assumptions on state spending and revenues and lacking a medium-term budget consolidation plan, according to a summary of a draft IMF report leaked to Reuters.

Good economic news boosts outlook for U.S. 08-28-03 (globeandmail.com) WASHINGTON -- A batch of good economic news, including rising consumer confidence and a jump in orders for big-ticket items such as cars, is the latest clue that the U.S. economy is emerging from its funk.

LATIN AMERICA

Chile votes to allow divorce 08-29-03 (guardian.co.uk) Chile, one of the few countries in the world where divorce is banned, is set to change the law in a move hailed as a major challenge to hypocrisy.

Pressure on Brazil Leader for New Jobs 08-29-03 (Yahoo) SAO PAULO, Brazil - Brazil slipped into a recession during the second quarter of 2003, increasing pressure on new President Luiz Inacio Lula da Silva to fulfill his campaign promise to create 10 million jobs in South America's largest country.

Argentinas Dirty War 08-28-03 (theconnection.org) What Argentina calls its "Dirty War" is an ugly stain on the nation's history. From 1976 to 1983, a military government systematically tortured, killed, and "disappeared" tens of thousands of people suspected of opposing the government.

Argentine Victims Testify Against Cavallo 08-28-03 (Yahoo) MADRID, Spain - A Spanish judge seeking to put a former Argentine military officer on trial for rights abuses wrapped up his investigation Wednesday after hearing from seven alleged torture victims — including one who said he was subjected to electric shocks with his newborn son lying on his chest.

Chile Court Rules Out New Pinochet Rights Trial 08-28-03 (Yahoo) SANTIAGO, Chile (Reuters) - A fresh bid to have Chile's former strongman Augusto Pinochet (news - web sites) face human rights charges failed on Wednesday when a panel of judges voted against taking away his immunity.

Venezuela edges towards resolving political crisis 08-28-03 (Financial Times) Venezuela's Supreme Court appointed a five-member electoral council late on Monday, a move that increases significantly the chances of a democratic resolution to the country's protracted political crisis.

Sect Leader on Trial in Brazil Mutilation Murders 08-28-03 (Yahoo) BRASILIA, Brazil (Reuters) - A Brazilian (news - web sites) sect leader and five others accused of kidnapping boys in a remote Amazon town, cutting off their genitals and sacrificially killing them went on trial on Wednesday.

ASIA

Chinas Growth Creates a Boom for Cargo Ships 08-29-03 (Yahoo) HONG KONG, Aug. 27 Less than two years after many of the world's cargo ships lay idle and were worth no more than the scrap value of their steel, shipping lines around the world are enjoying one of their most profitable booms ever, and they have the rapid expansion of the Chinese economy to thank for it.

OIL PRICES

Iraq Oil Output Up, Sabotage Worries U.S. 08-29-03 (Yahoo) BAGHDAD (Reuters) - Iraq (news - web sites)'s crude oil production is increasing but the United States is concerned by continuing acts of sabotage, a top U.S. army commander said on Thursday.

Gasoline Price Hits Record, but Relief Near 08-28-03 (Yahoo) HOUSTON (Reuters) - U.S. motorists are paying more than ever for gasoline this week, but relief is just around the corner as the summer driving season ends and refiners work out kinks that have hampered production, industry sources said on Tuesday.

Newest messages appear on top.

08-29-03 Advice55: <08-28-03 The Nostradamus:>

I think you might be a little late in that sell call....

Cause we are in 2003 you know?....

This thing has been going down for 4 years....

You are only 4 years late....

Try again in 2007!

Regards!

<PS>: We might see a lot of short sellers of any news loosing their jobs this year.... Like the President of Garantia (CSFB Brasil), that just lost his job today.... He was a seller of TNE at 9 dolars and a buyer of dolars at 3.10.... Lost his job.... Today.... Who will be the next? There are a lot of asses on the line if SPX brakes the 1015 for real..... How many short sellers stops must be hanging around that level?

08-29-03 Advice55: This points to the containment of great power - power that increases as it is wisely stewarded. Like a river which has been dammed, or a cooking pot with the lid on, holding and containing power produces enormous potential. During normal times, daily ritual and habit help keep life ordered and serene; but in times of great opportunity, the force of a powerful personality is required. Focused attention is required to channel this great potential and achieve supreme success.

With regard to what is on your mind, you have considerable reserves of energy and support to draw upon. This is the right time to nurture creativity by collecting and organizing your good ideas and plans. In this way, even great and difficult undertakings can be successful.

A hidden source of power for the great is the study of the past. The lives of wise and successful men and women are like treasures buried in the earth. Great good fortune comes to those who unearth these valuable treasures by applying the lessons of the ages to current events.

a unanimidade é impressionante....

Tspp é um lixo.....

É unanime!

Será que ta no preço a unanimidade?

geralmente está......

Ja Embratel ta mais dividida, ainda tem nego que acredita.....

Da internet grátis e tal.....

Ja vale é ouro!

Petro é ouro!

Telemar ta virando, mas ainda não virou..... Vai virar, dinheiro gringo vai virar ouro a telemar também.....

Investimento direto vai sair pelo ladrão no segundo semestre e la por fins de outubro vai estar tudo no preço......

Até lá, vai ser um tal de zé vendinha sendo mandado embora, um atrás do outro.....

Mas o trade relativo ta comendo solto.....

Quando falei semana passada compra tspp e vende vale tava 200 contra 4.24...... Neguinho tirou onda da minha cara e tal.....

Hoje eu comprei tspp e vendi telemar......

Daqui a uma semana nóis faiz a conta.....

Hedge, tem que ir fazendo hedge.....

É que neguinho é tudo zé comprinha, mas aprender a operar alta mesmo, ninguém sabe, tudo gente jóvem que viu baixa e mais baixa durante 5 anos....

Vão aprender a operar a alta lá nos 18.000.....

Com dolar a 2.80.....

Não foi aos 9.000 que a moçada aprendeu a operar baixa? Fazer hedge com índice e tal?

Então, agora aos 18.000 vão aprender a operar alta......

Vale subiu hoje?

Subiu claro, hedge, neguinho enfiou a bota em vale e tomou o resto uma semana seguida, reverteu uma parte hoje, pra poder socar o bambu amanhã outra vez assim que mercado mostrar alguma força......

Fazem 3 ou 4 dias que tspp está performando pior que o mercado..... Mas antes tivemos 8 dias que ela performaou bem melhor..... E antes 10 dias que performou pior......

Telemar agulhou na compra 21 com 60 e 50 hoje.....

Tspp vai agulhar em breve.....

Embratel engolfou pra baixo em dolar e em real....

tspp não....

Tspp ta sobrevendida outra vez.....

E por uma mera coencidência, no dia em que o forum é unanime:

Tspp é um lixo total!

Eu to só olhando aqui, operando ali e tal......

Vou até tirar todo mundo do meu filtro outra vez e ver no que que da.....

08-28-03 amigo latino: <Latin America Needs To Favor New Cos, Jobs -Stiglitz

SANTIAGO -- Latin American policymakers need to favor creation of new companies and jobs and focus more strongly on fighting poverty, 2001 Nobel Prize laureate for economics Joseph Stiglitz wrote in an article released Thursday.

Development "doesn't consist solely in accumulating capital and assigning resources in the most efficient way" but also "represents a transformation of society," Stiglitz wrote in the article for the Economic Commission for Latin America and the Caribbean, a U.N. think tank.

Stiglitz argued in favor of reforms that would better reflect balances between markets and the state and simultaneously strengthen both. Rather than focusing energy on fighting inflation, job creation should be sought, while helping to create new companies needed to take precedence over restructuring and privatization of existing companies, Stiglitz wrote.

Policymakers also needed to abandon the trickle-down theory in favor of actively reducing poverty, he added. , ……………..>
http://online.wsj.com/article/0,,BT...

08-28-03 The Nostradamus: INFIDEL ! it is infuriating to see how the INFIDEL wally has taken over your souls ! wally is a follower of filosphies past and interrupted !

You are at the MERCY of an INFIDEL ! How many times has The Nostradamus prevented catastrophy ? From Chitchen Itza to the World we have helped the repented !

YES ! but to the INFIDELS that are into Brasil I may call to task: SELL ! and for my many, many followers after the cleansing selling, be in cash and do nothing for the time is for contrision and repent, look into yourselves and find the cleansing light of happiness of being in CASH !

Repent and Love !

08-28-03 amigo latino: The net speed link is

ttp://www.numion.com/YourSpeed/

What was shown in the earlier posting is an errot.

08-28-03 amigo latino: Carib: Your undrstanding does not correspond to what I said.

My comp download speeds are slow. 4min/1mb.

30kbps refers tu the speed of the internet surfing

The measued speed at this moment is 4434 bytes per sec = 35 kilobits per second.

Measured at this link : http://www.cancer.org/docroot/home/...

08-28-03 Gaucho1: Carib: the problem in Brazil is not to cut taxes, but to cut spending. This is incredibly difficult to achieve, since only 15% of the budget is available for discretionary spending (the rest being tied up in payments to civil servants, transfers to states, etc) and the fixed cost of the public sector is high. Already discretionary spending has been cut to the bone (witness pitiful state of roads, rockets blowing up and general crumbling of infra-structure...) The way to cut fixed costs and untie revenues is via constitutional reform, and the IMF has undeniably been a huge supporter of reform.

08-28-03 carib: Amigo: if you get 30KB per second on downloads from dial-up...DR has a revolutionary new technology... let us buy DR bonds! (or maybe that ISP has only 5 subscribers...) I know nothing about tech, but I never got a dial-up download faster than 5.5KB per second...

08-28-03 amigo latino: <wally: <amogo> end of discussion. no dial-up speed is faster than the slowest broadband speed. case closed!..>

In one of my professions, if theory and reality collide and if an ultra fast decision is made without further examination, one could lose the license and even get jail time!

Again each has his own style and training.

08-28-03 carib: Gaucho: I agree, it's up to the brasilians, not to the IMF, to cut taxes. However, the IMF has been dispensing <advices> to developing countries in recent years on sundry matters that go well beyond its institutional task of encouranging sound fiscal policies and reasonable balance of trade. I do not remember the IMF including systematic tax cuts in their long list of recomandations. Maybe it's just natural for bureacrats of all kinds to like <big government> and hence <big taxes>....

08-28-03 Gaucho1: <The IMF should stop considering the tax burden as a neutral factor. The main instrument to produce a good fiscal balance is sustained economic growth, and high tax burden in a developing economy is bad for growth. >

Carib: I agree, Brazil's tax burden is excessive. This is a consensus even among the Brazilian govt. Moreover, a disproportional amount of the tax revenues goes to the well-off-- effectively concentrating wealth even more. The IMF, I am sure, also agrees with all this. However, other than setting fiscal targets, the IMF has no official say on taxation or public spending. The most it can do is to encourage reforms that will in time reduce and improve the quality of public spending, such as the pension reform. Going beyond polite encouragement would surely meet with fierce resistance from Brazilian politicians, not at all keen to let IMF interfere in domestic issues. Blame the Brazilians, not the IMF.

08-28-03 wally: <amogo> end of discussion. no dial-up speed is faster than the slowest broadband speed. case closed!

08-28-03 amigo latino: Wally, The computer speed is 30 kbps and 30 kbps at 5 min inbterval at about 7.40 pm.

< wally: ….for a computer literate your statement sounds like "2 plus 2 equals 144"!>

If realituy does not agree with the theory one has to explore the reasons instead of negating the reality. If my computer speed were to be slower I would have surely posted requests for finding cost –effective remedies I do not have inhibitions nor false egos.

A few months ago I was conversing with the owner of the computer café with the DSL connections(of CODETEL/Verizone) about how fast my internet connection of <Centennial>. Is. She agreed that it is very fast because she herself saw it when she went to the offices of Centennial.

The Centennial office addresses are: 1) Maximo Gomez with Bolivar and 2) Winston Churchill –close to Sirena Dept store. In each office there are three computers for the public to use: 30 min-60min of free time .Once the URL is typed almost instantly appears the page. Supposedly the clients get the same service. Now my connection is very fast(perhaps not as fast as the demonstration service of Centennial). Victor’ friends in DR could go to those addresses (no need of fear--central area and upper class neighborhoods)there to see for themselves and if satisfied sign up for the service.

I now remember using the dial-up service at my sister’s house in Long Island about 6-7 years ago-- In general any dial up service in DR is faster than that dial-up service in Long Issland, and the Centennial dial-up service is incredibly faster. If you are further interested, I will try to get the telephone number of the technical staff for you to call them and find out more information.

08-28-03 carib: Gaucho: that is the point. The IMF should stop considering the tax burden as a neutral factor. The main instrument to produce a good fiscal balance is sustained economic growth, and high tax burden in a developing economy is bad for growth. The paradox of Brasil is that a very large part of "social spending" actually goes to the higher-middle class (subsidized higher education, very high pensions for management-level civil servants etc) and the lower middle classes suffer the "hiddent tax" of stellar interest rates (I am not referring to the discount rate, currently @22%, but to the cost of consumer credit, well above 100%pa)

08-28-03 Gaucho1: <i posted same thouhgt for Gaucho yesterday. in fact IMF recipes about maximizing tax burden and collection rates are counter productive for low income economies like Brazil. >

Glutt: the IMF says nothing about the tax burden. All the IMF cares about is stabilizaing debt/GDP, which is achieved thru fiscal surpluses. Unfortunately for Brazil, fiscal surpluses have come by way of higher taxes, rather than reduced expenditures.

08-28-03 Glutt: it is strange to see IMF encouraging EM nations to overtax their poor undercapitalized economies and at the same time encouraging them to refinance gaps at 12% p.a. in $$$ ... is there a fundamental problem in the heads of IMF PhDs or simply their bad intention? interesting what IMF PhDs have to tell us in response to this ... probably nothing

08-28-03 Glutt: wally <<Where are the Poles and Danes?> and the super-rich Ukrainians and Moldavians > as usual, licking...

08-28-03 Glutt: carib <My main criticism of the Lula team is that they apperently do not agree on the fact the present level of taxtion is already too high for the country.> BRAVO !!! i posted same thouhgt for Gaucho yesterday. in fact IMF recipes about maximizing tax burden and collection rates are counter productive for low income economies like Brazil. it would suffice if poor country would maintain reasonable suprlus without robbing its populace which would mean controlled spending without over taxing citizens. IMHO PS: tax overburdened EU should also begin to think productively as regards reducing taxes and do everything possible for stimulating private capital into EU, not out of it.

08-28-03 wally: <Where are the Poles and Danes?> and the super-rich Ukrainians and Moldavians who belong to the 'willing ones' and don't know where to spend their money?

couldn't one suggest to Dubjah and Wolfowitz to involve the North Koreans and kill two birds with one stone? or ask for the help of the neighbouring Mullahs?

08-28-03 victorn: PT, if a jackass wins next year's elections, i don't think he/she would be pulling out of iraq. I think that regardless of who wins, the iraqi invasion will continue.

08-28-03 victorn: wally, unlike you, i don't like analysts all the time. Right now i dislike them because they are not saying negative things about emb. In my case it's a love-hate relationship. A year ago, it was love. Right now it's hate.

08-28-03 PaxWax: We grant them exactly the respect they are due and have earned: NONE.

08-28-03 Patient-Trader: Moneypenny, <In weighing a greater U.N. hand in Iraq, the Bush administration is acknowledging that the mounting costs are too great for the U.S. alone to bear.> http://www.nytimes.com/2003/08/28/i...

Whats up ? GNoE having stamina problems ? Where are the Poles and Danes ?

08-28-03 wally: <Russia has not only said a firm `no' to the U.S. demand to halt the construction of a nuclear reactor at the Bushehr power station, but has bid to build another reactor in Iran> = Russia MUST be NUKED!

08-28-03 wally: <Why is it that we see very little respect in this forum for the <anal> community?>

because we are stupid and ungrateful <savo>. we should be flogged and punished in a severe way every time we call our ANALfriends bad names. they help us to make money!

08-28-03 wally: <Are you smoking to many crocodile nails recently?> make that alligator nails <PT>. but any posting claiming that a 56k modem is faster than ANY broadband DSL or broadband cable i reserve the right to call BULLSHIT².

08-28-03 savonarola: wally...<brainamputated ANALysts>

Why is it that we see very little respect in this forum for the <anal> community?

08-28-03 PaxWax: U.S. fails to sway Russia on Iran

MOSCOW AUG. 27. Washington has failed in its last-minute attempt to persuade Moscow to stop nuclear cooperation with Iran, ahead of a Russian-American summit next month.

Russia has not only said a firm `no' to the U.S. demand to halt the construction of a nuclear reactor at the Bushehr power station, but has bid to build another reactor in Iran.

After two days of talks on nuclear proliferation with the U.S. Under-Secretary, John Bolton, in Moscow this week a Russian diplomatic source was quoted as saying that "there were no new developments on the subject of Iran at Bolton's consultations at the Foreign Ministry."

Simultaneously, the Russian Atomic Energy Ministry announced having handed over to the Iranian side a feasibility study for a second reactor in Bushehr.

A spokesman for the Ministry said the document had been prepared under "agreement reached during the Atomic Minister, Alexander Rumyantsev's visit to Teheran in December 2002."

Russian sources said Mr. Bolton had failed to produce any fresh proof of Iran's alleged ambition to acquire nuclear weapons.

For its part, Moscow dismissed Washington's claim that the Bushehr nuclear project can help Iran build a nuclear bomb.

On the eve of the Russian-American consultations on nuclear proliferation, the Russian Prime Minister, Mikhail Kasyanov, approved a draft accord with Iran on the return of spent nuclear fuel from the Bushehr reactor to Russia.

The accord would clear the way for the supply of Russian nuclear fuel to the Bushehr reactor, which is due to become operational next year.

Russia's rejection of U.S. concerns about Iran's nuclear weapons programme may cast a cloud over the Russian President, Vladimir Putin's meeting with the U.S. President, George W. Bush, in Camp David in September.

08-28-03 Patient-Trader: Wally, <i said you are posting bullsh*t claiming that DSL might be slower than a dial-up modem connection. that has nothing to do with how many clients your ISP serves.> Are you smoking to many crocodile nails recently ? Of course a DSL connection may be slower than a dial-up modem. 1. DSL can be set any speed. 2. The pipe from the ISP to the backbone might be too small for their client base.

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