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28231 Negative Federal Funds Rate? -- rank: 1000

Michael Perelman wrote: >The key is not supposed to be the difference between the interest rate and >the inflation rate, but between interest and expected inflation. If >borrowers expect deflation in the near future, interest rates can still be >significant. But, as they say, expected inflation is nonobservable. Unless you've spotted it. Doug

Document Size:	4810
Author:	Doug Henwood
Date:	Fri Nov 8 16:46:07 PST 2002

28232 new to radio archive -- rank: 1000

Just posted to my radio archive <http://www.leftbusinessobserver.com/Radio.html>: * the November 7, 2002 show: Christopher Hitchens, author of Why Orwell Matters, on his book, his bellicose turn, and what Orwell might think of the phrase "non-imperial occupation" * Anatol Lieven talks about what Bush really wants in Iraq * transcript of interview with Kathie Sarachild and Amy Coenen of the Redstockings (January 24, 2002) on the organization, feminism, and its relation to health c ...

Document Size:	5325
Author:	Doug Henwood
Date:	Fri Nov 8 16:40:49 PST 2002

28233 the waves say... -- rank: 1000

My nutty gurus at the Elliott Wave Theorist <http://www.elliottwave.com> say that the strong move upwards in U.S. stocks is over, and the exciting third wave of the bear market is about to begin. In Elliottworld, major trend moves break down into five waves, up, down, up, down, up. The first upwave is when it all gets started; it can be strong, but it's usually met with skepticism. The third wave is usually the strongest, and when the "point of recognition" comes - a broad recogn ...

Document Size:	5117
Author:	Doug Henwood
Date:	Fri Nov 8 16:04:28 PST 2002

28234 Negative Federal Funds Rate? -- rank: 1000

H. Curtiss Leung wrote: >So the Fed dropped the target for the Federal Funds rate to 1.25%, which, >according to the WSJ article on the rate decreases, is below the Fed's >1.8% inflation figure. So we've got a negative real interest rate for >this money, yes? > >Two questions: > --Has this ever happened before? > --Does this amount to a polite admission that deflation could be > a real problem? I've just put up a page on this at <http://www.leftbusinessobserver.com ...

Document Size:	5132
Author:	Doug Henwood
Date:	Fri Nov 8 15:39:50 PST 2002

28235 the case against the case against "regime change" in Iraq -- rank: 1000

Michael Pollak wrote: >On Thu, 7 Nov 2002, Christopher Hitchens was quoted as saying: > >> These "root causes" [of 9-11] lay in the political slum that the United >> States has been running in the region, and in the rotten nexus of >> client-states from Riyadh to Islamabad. Such causes cannot be publicly >> admitted, nor can they be addressed all at once. But a slum-clearance >> program is beginning to form in the political mind. > >Boy is ...

Document Size:	5863
Author:	Doug Henwood
Date:	Fri Nov 8 14:14:06 PST 2002

28236 Fla intangibles tax -- rank: 1000

JCWisc at aol.com wrote: >seamus2001 at attbi.com writes: > >> I'd assert, while admitting to being too lazy to defend the >> assertion with a monograph, that state legislatures are going to hell in a >> handbasket faster than Congress. If you think Congress is bought, the >states >> have been bought for a far cheaper price..... >> >> Ian > >Nor could I defend such an assertion in a monograph, but it's certainly >consistent with our ...

Document Size:	5387
Author:	Doug Henwood
Date:	Fri Nov 8 13:51:19 PST 2002

28237 Radio Henwood -- rank: 1000

I thought it went well. I don't agree with lots of what he said, but we were quite friendly to each other. Unfortunately, he had a coughing fit that chewed up 3-5 minutes, which is a near-eternity in radio time. He said it was because he hadn't had a cigarette in too long. Doug Peter K. wrote: >How did it go? Was he belligerent? > > >>On my radio show this afternoon: >> >>* Christopher Hitchens, talking about his new Orwell book and other >>matters that have come ...

Document Size:	4896
Author:	Doug Henwood
Date:	Fri Nov 8 13:48:12 PST 2002

28238 hey perrin, did you pen the editorial in todays's Daily News? -- rank: 1000

Apropos the subject heading, Dennis has unsub'd for now because he's got to do final revisions on his book. He wishes to inform everyone that it's not because he's under attack; he's used to that sort of thing. Doug

Document Size:	4993
Author:	Doug Henwood
Date:	Fri Nov 8 12:16:03 PST 2002

28239 Florence beseiged -- rank: 1000

Guardian (London) - November 8, 2002 Florence besieged by army of freethinkers. FLORENCE -- Florence was yesterday under siege, not from hordes of violent anti-capitalists intent on destroying the city's artworks, as the Italian prime minister, Silvio Berlusconi, predicted earlier this week, but from legions of emerging political and social ideas which many believe could refresh global democracy and the traditional European left. While the authorities have played up a possible repeat of the Geno ...

Document Size:	9422
Author:	Doug Henwood
Date:	Fri Nov 8 11:18:15 PST 2002

28240 dollar rout -- rank: 1000

Dollar Falls Below 120-Yen Mark Amid Wave of Bearish Sentiment By John Parry and Tyler Lifton Dow Jones Newswires NEW YORK -- A swirling tide of bearish sentiment has pushed the dollar to fresh multimonth lows Friday, as investors continue to factor in the implications for the currency of the aggressive Federal Reserve (news - web sites) rate cut. The dollar was depressed further -- most notably against the traditional safe haven currency, the Swiss franc -- after the United Nations (news - web ...

Document Size:	6433
Author:	Doug Henwood
Date:	Fri Nov 8 10:44:58 PST 2002

28241 Economist hit on Naomi Klein -- rank: 1000

Jeet Heer wrote: >Interesting. Why do you think the Economist sucks? It has a reputation, >like the Wall Street Journal's news section, for being a great publication >that reports honestly on how capitalism really works. Is this over-inflated? >I've personally never found it to be that great, and am curious why it >enjoys its high repute. I find that if I read the papers during the week - the NYT, WSJ, and FT, to name names - there's little new in the Economist. Sure they do somet ...

Document Size:	5492
Author:	Doug Henwood
Date:	Fri Nov 8 10:12:34 PST 2002

28242 Economist hit on Naomi Klein -- rank: 1000

Wojtek Sokolowski wrote: >The truth is that US populism despises organization in favor of a utopia >where everyone is just getting along with one another (pass that bong, >dude). That is fine, but organizations (think of planned economy as a >corporation writ large to vercome inefficinecies of the market) have the >best track recrods in alleviating poverty and promoting rational >development. Even organizations mandated to maximize profit and offload costs onto workers and th ...

Document Size:	5008
Author:	Doug Henwood
Date:	Fri Nov 8 07:24:14 PST 2002

28243 Economist hit on Naomi Klein -- rank: 1000

Chuck0 wrote: >Interesting. In my experience, when somebody writes that you need to >"grow up," this means they can't respond to your arguments. > >So now the Economist has stooped to name-calling. > >Tsk, tsk, Economist. I'm guessing the piece was written by the Economist reporter Naomi debated in New York in September, Sameena Ahmad. Ahmad positively vibrated with contempt for Naomi - among other things, she seemed jealous of her fame. Ha. The Economist sucks anyway ...

Document Size:	5004
Author:	Doug Henwood
Date:	Fri Nov 8 07:23:02 PST 2002

28244 Economist hit on Naomi Klein -- rank: 1000

The Economist - November 7, 2002 Face value Why Naomi Klein needs to grow up In praise of justice, democracy and autonomous space THE battle to save the world is an arduous and paradoxical one. Today's most visible scourge of globalisation and brands is herself an inexhaustible globetrotting brand: a 32-year-old Canadian journalist, armed with little more than a portable computer, a plane ticket and Internet access. Naomi Klein is the pre-eminent figure (she would deplore the term "leader&q ...

Document Size:	10730
Author:	Doug Henwood
Date:	Thu Nov 7 16:10:49 PST 2002

28245 Radio Henwood -- rank: 1000

On my radio show this afternoon: * Christopher Hitchens, talking about his new Orwell book and other matters that have come up recently * Anatol Lieven of the Carnegie Endowment for International Peace, on the Bush admin's real aims in Iraq Details: Thursday, November 7, 5-6 PM eastern US time, WBAI, New York, 99.5 FM, and <http://www.wbai.org>. To be archived on the web within a day or two at <http://www.leftbusinessobserver.com/Radio.html>.

Document Size:	4861
Author:	Doug Henwood
Date:	Thu Nov 7 10:35:05 PST 2002