| Topic: |
Politics > Politics-USA |
| User: |
"glenhappy" |
| Date: |
18 May 2004 01:23:16 PM |
| Object: |
What Recovery = May 18, 2004 |
==========================================================================
What Recovery - Part 1
U.S. Trade Deficit Grows Unchecked
$46 Billion Gap in March Is the Biggest Yet Despite Declining Dollar
Washington Post - Thursday, May 13, 2004
The U.S. trade deficit swelled to a record $46 billion in March,
propelled
by rising prices for imported oil and consumers' unending hunger for
vast
quantities of goods from abroad.
The previous monthly high for the trade deficit, in January, was $43.5
billion.
The widening of the trade gap, reported yesterday by the Commerce
Department, was the latest in a series of setbacks that have cast a
shadow on the generally bright U.S. economic outlook. Interest rates
have
moved up in recent weeks with concern that inflationary pressures may
prompt the Federal Reserve to tighten credit, and on Tuesday crude oil
prices closed above $40 a barrel on the New York Mercantile Exchange
for
the first time since 1990
============================================================================
What Recovery - Part 2
More trouble for Bush: Consumer confidence falls.
From Reuters, 5/12/04:
http://www.forbes.com/personalfinance/funds/newswire/2004/05/11/rtr1368009.html
NEW YORK, May 11 (Reuters) -
Record-high gasoline prices weighed on consumers' confidence in the
U.S. economy in the latest week after two straight weeks of
improvement, a survey said on Tuesday.
ABC News and Money Magazine said their Consumer Comfort index edged
down to -13 in the week ended May 9 from a reading of -11 the previous
week.
"The ABC/Money index, especially the buying climate component, has
proven sensitive to rising pump prices in the past," the report said.
Earlier on Tuesday, the government said gasoline costs could peak at
$2.03 a gallon in June, 21 cents higher than previously expected.
=============================================================================
What Recovery Part 3
Ohio Manufacturing Plant Cursed by Bush Visit
"An Ohio manufacturing company that George W. Bush
used last year as a backdrop to show how his economic policies
were working...closed down one of its plants, and laid off 1300
workers. ...
Ironically, it was a little more than a year ago when President
George W. Bush visited Timken's world headquarters heralding
his tax cut and job creation plan. Now this very company's job
cuts will be a major blow to the economy in Canton."
<http://counterspin.blogspot.com/2004/05/bush-league-ohio-manufacturing-company.html>
"There just seems to be this black cloud following Junior around
everywhere Shrub goes."
===============================================================================
What Recovery - Part 4
Oil Prices Surge; Gas Prices Hit Record
From The Associated Press, 5/18/04:
http://www.newsday.com/news/nationworld/wire/sns-ap-newsbrief,0,1411218.story?coll=sns-ap-nationworld-headlines
Oil Prices Surge; Gas Prices Hit Record
LONDON (AP) --
Oil prices surged to near $42 a barrel and the U.S. Energy Department
said the country's average retail price of a gallon of gasoline had
passed $2 for the first time.
===============================================================================
What Recovery - Part 5
Rate of off shoring jobs accelerating faster than predicted in US
http://www.sfgate.com/cgi-bin/article.cgi?file=/news/archive/2004/05/17/financial1726EDT0257.DTL
(05-17) 16:04 PDT SAN JOSE, Calif. (AP) --
New figures on offshore outsourcing suggest that American companies
are
sending even more white-collar jobs to low-wage countries such as
India,
China and Russia than researchers originally estimated.
Roughly 830,000 U.S. service-sector jobs -- ranging from telemarketers
and accountants to software engineers and chief technology officers --
will move abroad by the end of 2005, according to a report released
Monday by Forrester Research Inc.
The Cambridge, Mass.-based firm projected in 2002 that 588,000 jobs
would move overseas by the end of next year.
<more>
===============================================================================
What Recovery - Part 6
The Dow...
Under 10k again! sheesh...
===============================================================================
ETC ETC ETC!
glenhappy
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