Re: Corruption in China

Corruption, or simply power consolidation, & would we or anyone outside the inner ranks know the difference?

"It's a serious warning to corrupt officials and to those who don't toe the party line,"

Could easily (and probably more accurately be written as:

"It's a serious warning to officials who don't toe the party line, they will be removed as corrupt"

Almost right out of the manual...
http://en.wikipedia.org/wiki/List_of_political_epithets

INDICATIONS
U.S. stock futures get lift as oil drops below $60
By Steve Goldstein, MarketWatch
Last Update: 6:28 AM ET Sep 25, 2006

http://www.marketwatch.com/news/story/Story.aspx?guid=%7B8DA7DBDC%2D952C%2D4F01%2D9104%2DB709C8528C5B%7D&siteid=

http://eetimes.com/news/semi/showArticle.jhtml?articleID=193004884&printable=true

Germanys exports to rise more than worldwide trade next year. Expectet export rise is 9% vs world trade plus of 8%.

These are expectations of German companies, due to a study. linked in German language only, sorry no english text found.

http://www.dihk.de/inhalt/informationen/news/meldungen/meldung009210.main.html

interesting anti-recession viewpoint: The consumer is strong, inflation is/will be the problem, housing bubble - Wealth effect nothing to write home about:

http://www.smartmoney.com/aheadofthecurve/index.cfm?story=20060922

Denver Gold Forum live webcast link:
http://events.onlinebroadcasting.com/denvergold/092506/index.php

Venezuelan oil: Chavez drives a hard bargain, but Big Oil's options are limited

Highlights some of the risks of doing business with leftist-ruled countries. Very interesting reading.

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2006/09/24/MNGNSLBRUG1.DTL

Seeking Guidance For Our Savings

By Martha M. Hamilton
Sunday, September 24, 2006; Page F01

http://www.washingtonpost.com/wp-dyn/content/article/2006/09/23/AR2006092300502.html

Stocks Little Changed on Housing News

By ELLEN SIMON
The Associated Press
Monday, September 25, 2006; 11:26 AM

http://www.washingtonpost.com/wp-dyn/content/article/2006/09/25/AR2006092500260.html

On topics where US media corporations will almost certainly have a common interest to spin things one way or another, a quick read in the foreign media can give some interesting and quite distinct perspectives that help form better, well rounded trading decisions.

Re: Venezuelan oil news article above for example try China, or various European media articles to see the contrasts in reporting Vs US news on this subject:
http://news.google.com/news?as_q=oil+chavez&as_nloc=china

You would be hard pressed to find such abundant positive news like below in US media...

"Tiny Venezuela has a population of about 27 million people that's 1/12th the size of the US. And it had a 2005 Gross Domestic Product of about $160 billion that's less than 2% of the US GDP of $12.5 trillion last year and less than half of oil giant Exxon-Mobil's $371 billion 2005 sales volume. Still Hugo Chavez is willing to share his nation's oil and financial resources so those in need in the US can get some of the help its own government won't provide and help other nations as well that don't have enough ability to do it themselves. Don't ever expect Exxon-Mobil to offer aid as its game plan is to manipulate oil prices for maximum sales and profit growth with little or no regard for social responsibility..."

Well, that is quite a spin!

But apparently Chavez's "generosity" hasn't yet noticeably benefited the people of Venezuela:

"In El Tigre, a sprawling small city of 150,000 in Anzoategui state, there is little evidence of the nearby oil bonanza. Main streets are nondescript, and the highways leading out into the surrounding savanna are narrow and potholed.

But billboards are everywhere touting Chavez and the state's governor, Tarek William Saab.

"With Tarek and Chavez, Anzoategui is progressing!" blare the signs, showing a triumphant Chavez leading a slightly sheepish governor, both wearing revolutionary-red shirts and surrounded by cheering crowds.

But even many Chavez supporters complain that the president's grand ambitions have not benefited the people of Anzoategui.

"Because of oil we have everything, yet we have nothing," said El Tigre Mayor Ernesto Paraqueima, a member of Chavez's ruling coalition.

Speaking in his simple office in El Tigre's concrete-block municipal building as a broken sprinkler downstairs coated the windows with water, he bitterly criticized what he said was the waste of huge sums of money.

"The bureaucracy is enormous, and corruption is gigantic," Paraqueima said. "Anzoategui is a rich state, with rich land. You can look on either side of any highway in Anzoategui, and you won't see anything being cultivated anywhere. That's because of oil. We prefer to bring rice and potatoes from Colombia than growing it here. We produce almost nothing but oil.

"Every foreign oil company in the world is here, but where is the benefit?"

An old familiar story.

MARKET SNAPSHOT
Wall Street sprints for gains
Altria slides on 'light, low-tar' lawsuit; H-P gains on management shuffle
By Mark Cotton, MarketWatch
Last Update: 2:47 PM ET Sep 25, 2006

http://www.marketwatch.com/news/story/Story.aspx?guid=%7B9E74CEF5%2D95CC%2D48B2%2DA9E8%2D03B105A02C8E%7D&siteid=

ECONOMIC REPORT
Existing-home prices fall for 1st time in 11 years
Sales drop 0.5% in August to lowest pace since January 2004
By Rex Nutting, MarketWatch
Last Update: 10:26 AM ET Sep 25, 2006

http://www.marketwatch.com/news/story/Story.aspx?guid=%7B32209313%2DC23C%2D4946%2DB9B5%2D5392D6499D24%7D&siteid=

Sept. 25, 2006, 3:58PM
SEC Awards Contracts to Upgrade EDGAR

By CHRISTOPHER S. RUGABER AP Business Writer
© 2006 The Associated Press

http://www.chron.com/disp/story.mpl/ap/fn/4213101.html

Cook the Books, Get Life in Prison: Is Justice Served?

By Carrie Johnson and Brooke A. Masters
Washington Post Staff Writers
Monday, September 25, 2006; Page A01

http://www.washingtonpost.com/wp-dyn/content/article/2006/09/24/AR2006092400914.html

babycondor wrote:
>Well, that is quite a spin!

Yes thats the point: Look to US Media like the quoted article and you will get negative spin in line with economic interest, would be surprised to see anything less. China/Europe may cover things differently, showing only the positive quotes +data if it is their interest to do so. The truth is more than likely somewhere in the middle of the opposing views, and that is more valuable for trading decisions on the world stage...