Cake or Death: French car-torching barometer reads "lull"

Al Gore says global warming is YOUR fault!
"He betrayed this country! He played on our fears!"
You don't say...

September 18th, 2007

Fed Cuts Benchmark Rate Half Point, Seeking to Forestall Recession in U.S. - "The Federal Reserve lowered its benchmark interest rate by a half point to 4.75 percent, the first cut in four years, to protect the U.S. from sinking into a recession sparked by fallout from the housing-market collapse. 'Today's action is intended to help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets,' the Federal Open Market Committee said in a statement after meeting today in Washington. The central bank will 'act as needed to foster price stability and sustainable economic growth.' Stocks surged, two-year Treasury notes rose and the dollar fell to a record low against the euro. The larger-than-forecast reduction suggests Chairman Ben S. Bernanke is prepared to leave himself open to criticism that he's rescuing investors from bad decisions for the sake of saving the six-year expansion."
U.S. Producer Prices Drop More Than Forecast; Foreclosures on Homes Double - "The 1.4 percent decrease, the biggest since October, followed a 0.6 percent increase in July, the Labor Department said today in Washington. So-called core prices, which exclude fuel and food costs, rose 0.2 percent after a 0.1 percent gain the month before. Slower inflation gave policy makers room to cut their benchmark rate today in an effort to sustain the expansion in the face of a housing recession. A drop in fuel expenses pushed prices down in August and cooling economic growth will continue to restrain raw-material costs, economists said."

September 14th, 2007

U.S. Retail Sales, Output Rise Less Than Forecast, Adding to Rate-Cut Case - "The 0.3 percent increase in sales during August followed a revised 0.5 percent gain in July, the Commerce Department said today in Washington. Purchases excluding automobiles unexpectedly fell 0.4 percent. Production gained 0.2 percent, with factory output declining for the first time since February. While a report from the University of Michigan and Reuters Group Plc showed consumer confidence increased, their sentiment index remained near the lowest level in a year. Treasury notes rallied after the retail sales and production reports, before losing the gains."

September 13th, 2007

Greenspan Says He Didn't Foresee Credit Rout, Endorses Bernanke, CBS Says - "Current Fed Chairman Ben S. Bernanke 'is doing an excellent job,' Greenspan said in an interview on the 60 Minutes program, according to excerpts e-mailed by CBS today. The show is scheduled to air on Sept. 16, a day before the publication of Greenspan's book, 'The Age of Turbulence.' The remarks come amid criticism among some investors that Bernanke has failed to be as forceful as his predecessor in responding to financial turmoil. Greenspan in 1998 cut interest rates three times after a Russian debt default rippled through global markets. Bernanke's Fed has refrained from lowering its benchmark so far, relying on other tools to provide liquidity."
Commercial-Paper Market Decline in U.S. Slows as Concerns Over Credit Ease - "U.S. stocks rose and Treasuries fell after the Federal Reserve reported short-term debt dropped by $8.2 billion, compared with a decline of $31.3 billion a week earlier. That coincided with Countrywide Financial Corp. obtaining new financing and banks finding buyers for loans to fund Kohlberg Kravis Roberts & Co.'s buyout of Alliance Boots. Issuers with the biggest chance of default had stopped trying to sell commercial paper, rekindling appetite for short- term debt, said Tony Crescenzi, chief bond market strategist at Miller Tabak & Co. in New York. 'Investors have already pushed out the weakest issuers,' Crescenzi said in an e-mail. 'The commercial paper that remains is a relatively more respected crop.'"

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Monday, November 14, 2005

French car-torching barometer reads "lull"

Car-torchings drop again, and French look to expand their emergency crack down/appeasement of rioters

PARIS, France (AP) -- France's Cabinet approved a bill Monday to extend the country's state of emergency for three months to crack down on a wave of arson attacks and riots, the government said.

The government declared a 12-day state of emergency Wednesday, empowering regions to impose curfews and conduct house searches. The measures had been set to expire on November 20.

The bill to prolong the state of emergency must now go before parliament.

"It's a measure of protection and precaution," President Jacques Chirac said at a Cabinet meeting, according to government spokesman Jean-Francois Cope. "It's a strictly temporary measure that will only be used where it is strictly necessary."

Speaking earlier on Europe-1 radio, Cope said the bill would leave open the possibility of ending the state of emergency if order is restored.

"I think that given all that has just happened, it is important for regional officials to have the means to act during a period that is limited, but long enough to ensure the serious attacks on public order that we have seen in the past days don't happen again," he said.

Overnight, the number of car-torchings -- a barometer of the unrest -- dropped dramatically, with youths setting fire to 284 vehicles, compared to 374 the previous night, police said Monday.

"The lull is confirmed," national police spokesman Patrick Hamon said. A week ago, 1,400 cars were incinerated in a single night.

The French spokes-hole went on to say that 374 cars destroyed is an average Tuesday night for typical French protests and riots. "Those wacky kids are just out having fun now. There is no more danger."

All kidding aside, they're finally getting on the right track if they're instituting emergency search and seizure type policies. After nearly 3 weeks worth of rioting I guess they figured that this might not just go away all by itself.

Link to me! Posted by jwookie : 9:42 AM

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