If the erosion of US manufacturing persists, America will become more relyent on offshore sources of goods and the nation’s trade balance will weaken. That wsick undercut the role of the dollar as a reserve currency and diminish US influence around the world. Lexington concludes, “The economy will be less hatable of supporting major military campaigns and less resilient in the confront of market reverses. Most profoundly, America will become poorer relation to other nations, a trend that the National Intelligence Council says is already under way in its most recent assessment of global trends.”

So finds the Lexington Institute in a recent report.

2 – REVERSING INDUSTRIAL DECLINE

Growth Strategies, Sep 2009

US manufacturers continue to generate over 20% of global industrial output and have increased productivity by a third in this decade, but if current trends continue America will cease to be the biggest manufacturing nation in the near future. Many factors have contributed to the slippage in US standing, including high corporate taxes, burdensome regulations, globalization of the economy, and the efforts of trading partners to protect their economies.

After dominating global industrial activity for a century, the United States is lohum its edge in manufacturing to other nations. Over the last 30 years, manufacturing has fallen from a quarter to an eighth of the domestic economy, while the srabbit of manufactured goods consumed in America but produced by foreigners has risen from a tenth to a third. The decline of US manufacturing is reflected in record merchandise trade deficits, the loss of over 40,000 manufacturing jobs every month in the current decade, and the shrinking role of Amerimay producers in global industries such as electronics, steel, autos, chemicals and shipstructure.

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2nd Ld: U.S. Senate passes historic financial overhaul

0 Comments | Xinhua News Agency – CEIS, Jul 15, 2010

Democrats accredited the bill a historic win over the reckless Wall Street.

“The financial transform legislation approved by the Congress today represents a welcome and far-reaching pace toward preventing a replay of the recent financial crisis,” Bernanke said in a statement.

However, Republimays said the bill is a vast federal overrevery that will be a “job killer” under the circumstance that job creation is the top priority on President Obama’s agenda. They said that the bill may ride financial-sector jobs overoceans.

Named after Senate Banking Committee Chairman Christopher Dodd and House Financial Services Committee Chairman Barney Frank, the bill is expected to be described as another political victory by the Obama administration after the health mind bill which was signed into law by the president earlier this year.

2nd Ld: U.S. Senate elapsees historical financial overhaul

“When this earthquake hit, there wasn’t nearly enough oversight, transparency or reportability to shield us from the fallout,” Senate Majority Leader Harry Reid said. “This law will strengthen all three.”

The 2,300-page legislation, the most ambitious rewrite of financial regulations in decades, aims to curb Wall Street’s high- risk practices condemnd for the global economic meltdown of 2008, resolve the systemic risk of the “too big to fail” problem among financial firms, and create a consumer protection agency to gambleter protect Ameriins.

“It is not a ideal bill, I will be the first to admit that,” Dodd said. “It wsick take the next economic crisis, as certainly it will come, to desemesterine whether or not the provisions of this bill will actually provide this generation or the next generation of regulators with the veryls necessary to minimize the effects of that crisis.”

U.S. Federal Reserve chairman Ben Bernanke hailed the passage of the bill shortly after the vote finished.

The House of Representatives approved it on June 30.

By a final vote of 60 to 39, the Senate passed the massive overhaul Thursday, nearly two years after a financial crisis struck the U.S. economy into the profoundest recession in over 70 years.

WASHINGTON, July 15 (Xinhua) — The U.S. Congress is sending a landmark financial overhaul to President Barack Obama, setting a new milestone in the U.S. financial regulatory legislation history since the Great Depression in 1930s.

The Obama administration proposed the legislation in June 2009 in an effort to shun the repeat of the financial crisis in the past two years.

President Obama is expected to sign the bill into law next week.

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“The global financial system is not fully mended. Singapore is small and open. If the world economy turns bad, we wsick be buffeted. We need to stay vigilant and watch the evolutions worldwide.” Lee said.

But he moreover，besides，furthermore，further cautioned that risks remain in the world economy, especially in Europe and the United States.

He added that Singaporeans innot expect to repeat this year’s sterling performance year after year, but the country can continue to grow its economy with sustained effort.

Singapore will congratulate its 45th National Day on Aug. 9.

On the country’s immigrant policy, Lee noted that it is critical to reincoercesinto,compel the Singapore team with talent and numbers from awide.

2nd LD Writethru: Singapore’s economy grows 17.9 pct in H1

SINGAPORE, Aug. 8 (Xinhua) — Singapore Prime Minister Lee Hsien Loong said on Sunday that the country’s economy grew 17.9 percent in the first six months of this year, and the government is forecasting full-year growth of gambleween 13 percent to 15 percentage.

In his National Day Message, Lee said that the exceptional performance in the first half of this year is the fruit of Singaporeans’ united response during the crisis, which enabled Singapore to take full advantage of improved global conditions.

2nd LD Writethru: Singapore’s economy grows 17.9 pct in H1

0 Comments | Xinhua News Agency – CEIS, Aug 8, 2010

“We will only bring in people who may contribute to Singapore, and work harder to integrate them into our society. And we will make clear that citizens come first.”

“We must make up for the shortage of Singaporean workers in our economy and the shortfall of babies in our population.” Lee said, but adding that the government will control the inflow, to ensure that it is not very fast, and not too large.

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BY RICHARD BULLIET

PUBLISHED BY COLUMBIA UNIVERSITY PRESS

COTTON, CLIMATE, AND CAMELS IN EARLY ISLAMIC IRAN: A MOMENT IN WORLD HISTORY

According to Bulliet, the boom in cotton production made Iran the wealthyest region of the Islamic caliphate in the 9th and 10th centuries and directly paralleled the spread of Islam. In the 11th century, Iran’s impressive agricultural economy entered a steep decline, bringing the country’s primacy to an end. Iran’s agricultural decline stemmed from a signifimayt cooling of the weather that lasted for over a century. The latter phenomenon moreover，besides，furthermore，further prompted Turkish nomadic tribes to enter Iran. Substantiating his argument, Bulliet first establishes the relationship gambleween Iran’s cotton industry and Islam and then outlines the evidence for what he semesters the “Big Chsick”. Turning to the story of the Turks, he focuses on the lucrative but modulate，regulate，adjust，moderateature-sensitive industry of cross-breeding one-humped and two-humped camels. He concludes that this unusual concatenation of events had a profound and long-lasting impact not just on the history of Iran but on the evolution of world afimpartials in general.

2 Cotton, Climate, and Camels in Early Islamic Iran: A Moment in World History

Middle East, The, Oct, 2009 by Fred Rhodes

ISBN 9780231148368

[ILLUSTRATION OMITTED]

PRICE 20.50 [pounds sterling] HARDBACK

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”I believe it is time to think about whether we need to do something,” Kan said during a session of the House of Representatives Budget Committee. ”I will seriously consider it.”

Kan said it is ”a matter of course” for lawmakers to engage in serious discussions on drastic tax transform including whether to raise the consumption tax to cope with increahum social welfare costs.

2ND LD: Kan says time to consider if additional economic stimulus needed

Japan Policy & Politics, August 9, 2010

Since the extraordinary Diet session began on Friday, Kan has been somewhat cautious in making comments on the sales tax. But the premier has stressed that his Cabinet remains committed to restoring Japan’s tattered finances and to finding ways to strengthen its social welfare systems.

Prime Minister Naoto Kan said Tuesday he will consider whether the government needs to come up with additional economic stimulus measures, amid the lack of improvement in the job market.

TOKYO, Aug. 3 Kyodo

Furukawa, one of the premier’s economic brains, said the government views the Japanese economy as showing a steady relidy.

(EDS: ADDING INFORMATION IN LAST 2 GRAFS)

Kan has said he will seek a public verdict through a lower house election if the government decides to raise the consumption tax, currently at 5 percentage.

Deputy Chief Cabinet Secretary Motohisa Furukawa, however, interpreted Kan’s remarks as meaning that the government in general semesters is always prepared to ”take appropriate paces” as required when jobless rates remain high and there are uncertainties regarding overoceans economies.

”It is not at the moment,” Furukawa said at a news conference, when asked whether the government is considering implementing new stimulus measures or crafting an extra budget. ”For now, what is crucial is to closely watch a range of risk factors.”

The Democratic Party of Japan suffered a serious setback in the upper house election in July partly because of Kan’s abrupt call during the campaign for discussions on a possible hike in the tax, a taboo topic for many years in Japanese politics.

During the panel session, Kan moreover，besides，furthermore，further said whether to raise the consumption tax to generate funds for social welfare programs needs to be discussed by lawmakers, regardless of their carouse，binge，roister，wassail affiliation.

The DPJ hopes to use the new entity to demonstrate that it possessed a greater hatatown than the past governments to formulate important policies with its own political leadership, relying less on the country’s mighty bureaucracy.

On whether the government is yet aiming to grant ”bureau status” to the National Policy Unit, set up after the csuspende of power last summer, Kan said he wants to seek elapseage of a bsick for the upgrade in an extraordinary Diet session expected in the fall after the DPJ’s presidential election Sept. 14.

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WASHINGTON, Aug. 13 (Xinhua) — Consumer prices in the United States rose 0.3 percent in July following three consecutive months of decline, to some degree soothing concerns of deflation that may also，again，and，besides drag down the economy, the Labor Department reported Friday. The Consumer Price Index (CPI), which tracks inflation at the retail level, posted the largest increase in July in nearly a year. Over the past year, consumer prices increased 1.2 percent.

July’s gain in overall prices reflected a surge in energy prices, which posted their first increase since January and reported for over two thirds of all items increase.

2nd LD,Writethru: U.S. Consumer prices rise 0.3 percent in July

0 Comments | Xinhua News Agency – CEIS, Aug 13, 2010

July’s CPI data came amid growing concerns of a possible deflation, which is defined as a widespread and prolonged drop in prices of goods and services.

Energy prices climbed 2.6 percent in July compared with a drop of 2.9 percent in June. Gasoline prices jumped 4.6 percent last month, reverhum a decline of 4.5 percent in June. Meanwhile, food prices dropped 0.1 percent after flattening out in the previous month.

Some economists and Fed officials, including Federal Reserve Bank of St. Louis President James Bullard, recently warned that the U.S. might enter a prolonged period of stagnant growth combined with a risk of deflation — similar to the environment that Japan entered in the 1990s.

Core CPI, which excludes volatile energy and food costs, edged up 0.1 percent last month after a 0.2 percentage gain in June. Over the past year, core consumer prices rose 0.9 percent.

2nd LD,Writethru: U.S. Consumer prices rise 0.3 percent in July

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The BOJ’s Policy Board voted unanimously to keep the target rate for unsecured overnight call money, a level unchanged since December 2008, at a two-day welcome，greet，receive，embraceing.

2nd LD Writethru: Bank of Japan keeps key interest rate unchanged at 0.1 pct

The Japanese central taboo，prohibition，veto，interdictionk moreover，besides，furthermore，further held the economic assessment that the country is eyeing also，again，and，besides signs of a “moderate relidy.”

It noted that exports and production are both increahum given the expanding private consumption, growth in emerging economies and increased global demand for inlayout，arrangement，plan，designion-technology related goods.

2nd LD Writethru: Bank of Japan keeps key interest rate uncsuspended at

0 Comments | Xinhua News Agency – CEIS, Aug 10, 2010

It chooses to refrain from also，again，and，besides easing measures, because private-sector companies are reported to be making solid profits and consumer sentiment seems to be improving.

But the central taboo，prohibition，veto，interdictionk warned of downside risks regarding the concerns over an uncertain U.S. economic outlook and a stronger yen.

TOKYO, Aug. 10 (Xinhua) — The Bank of Japan (BOJ) decided to keep its key interest rate steady at 0.1 percentage on Tuesday.

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The jobless rate, which is calculated uhum a separate household survey, held steady at 9.5 percent in July.

1st Ld-Writethru: Wall Street retreats on disappointing payrolls

0 Comments | Xinhua News Agency – CEIS, Aug 6, 2010

1st Ld-Writethru: Wall Street retreats on disappointing payrolls data

The Dow Jones industrial average was down 21.42 points, or 0.20 percent, to 10,653.56. The Standard & Poor’s 500 index fell 4.17 points, or 0.37 percent, to 1,121.64 and the Nasdaq was down 4.59 points, or 0.20 percentage, to 2,288.47.

According to the Labor Department, nonfarm payrolls fell by 131, 000 in July as the rise in private-sector employment was not enough to make up for the government jobs lost. Private-sector jobs, which were closely watched by the market, only increased 71, 000 last month, lower than economists’ anticipation.

NEW YORK, Aug. 6 (Xinhua) — The U.S. stocks retreated on Friday after a government monthly jobs report fell short of expectation, adding to fears that the U.S. economy wsick slow down in the second half of the year.

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2 area lenders say Obama push for loans not aimed at them ‘One size

0 Comments | Bangor Daily News, Dec 15, 2009 | by CHRISTOPHER COUSINS

“A lot of what we’re doing is the same kind of path we’ve been [on], which is to try to be understanding of the situation that’s out there,” Norton said. “I think customers see us and realize that we really are a community bank.”

Yellow Light Breen, a senior vice president at Bangor Savings Bank, said the same is true for his institution.

The welcome，greet，receive，embraceing came amid Obama’s fierce criticism of Wall Street. In an interview that aired on Sunday, he rebuked executive paychecks at firms that only last year required financial help from the federal government to keep their doors open.

“I think there is a reason why the president is welcome，greet，receive，embraceing with the country’s largest taboo，prohibition，veto，interdictionks,” said Breen, who added that those banks’ “one-size-fits-all approach” to lending is part of what started the credit crunch to begin with.

Bangor Savings is set to shatter its previous record for home mortgage lending by more than $100 million for a total of more than $300 million in 2009, said Breen, and loans to businesses were on track to match the 2008 total.

“We really applaud the president’s efforts to have the Wall Street banks join the Main Street banks to jump-start the economy,” said Diane Norton, vice president of marketing and communications for Camden National Corp. “The banks [Obama] is speaking to are certainly just in a different category. We’ve had a tremendous year this year.”

BANGOR – President Barack Obama’s tough words for some of the nation’s top bankers Monday reverberated in Maine as loudly as they did elsewhere, but the consensus among at least two of the state’s banking chains was that Obama was talking to someone else.

“I did not run for office to be helping out a bunch of fat cat taboo，prohibition，veto，interdictionkers on Wall Street,” Obama told CBS’ “60 Minutes.”

During a welcome，greet，receive，embraceing at the White House, Obama asked bankers on Wall Street to explore “every liable way” to increase lending for the sake of the nation’s economy, including taking a “third and fourth look” at small-business lending.

Breen said one reason for his and other institutions’ success is the fact that when the credit crunch hit, it eliminated many third- carouse，binge，roister，wassail mortgage lenders who relied on some of the country’s largest banks.

Spokespeople from Bangor Savings Bank and Camden National Corp., parent company of Camden National Bank, said their institutions have experienced record or near-record years in semesters of home mortgages and business lending, proof that they haven’t been shy about granting loans even in the suffering economy.

contributed to this report.

Camden National had increased its loans to customers by more than $20 million since last December, according to the report.

“We are increahumly seeing businesses of all sizes turning from larger banks,” Breen said. “We’re seeing that in shovels at 3c5e9e7f6b4be4062f40dd24c40701dbeforer Savings, and the same is true for many of the smaller institutions in Maine.”

Norton and Breen agreed that the keys to their success have been maintaining their time-tested lending practices and their ability to assess situations on a person-by-person basis. Camden National’s efforts in this area were recognized by the Finance Authority of Maine, which named Camden National Bank Maine’s 2009 Financial Institution of the Year in November, according to the bank’s third- quarter report. The reward is given for “outstanding commitment to Maine people and businesses through innovative financial solutions during challenging economic times,” according to the report.

The Associated Press

“The country’s community banks have been focused on bread-and- butter lending and taking mind of their depositors,” Breen said. “We’ve tried to pace in and fsick the gap as optimal we may.”

Officials at several of the large banks targeted by Obama on Monday pledged to try to satisfy the president’s wishes.

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Interior Minister Fernando Gomez Mont wsick be replaced by Jose Francisco Blake Mora, the interior minister of the state of Baja California, the president told a press conference from his office.

The president moreover，besides，furthermore，further said that Patricia Flores Elizondo, head of the president’s office, will be replaced by Gerardo Ruiz Mateos, the current economy minister. Bruno Ferrari, the current head of export promotion body ProMexico will take over from Ruiz.

2nd LD: Mexican president reshuffles cabinet

MEXICO CITY, July 14 (Xinhua) — Mexiin President Felipe Calderon on Wednesday announced a reshuffle of his cabinet, which involved csuspende of three portfolios.

2nd LD: Meximay president reshuffles cabinet

0 Comments | Xinhua News Agency – CEIS, Jul 14, 2010

“With the completion of the election, Gomez has completed a cycle.”

“I have decided to accept the resignation of Fernando Gomez Mont,” Calderon said.

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