I copied this little known fact from "The Daily Reckoning".

While all eyes are on the Fed, Weldon's Money Monitor observes: "Global trade is already in a recession. Taiwan, Philippines, Singapore, Chile, Hong Kong, Costa Rica, Malaysia, India - all have reported a double-digit drop in exports year-over- year."

Personal Note: Could it be the American consumer has already started to cut back CONTRARY to the articles in the paper of how we're spending more? Maybe they include money spent on energy for spending reports but deduct it on the inflation reports?

-- Guy Daley (guydaley1@netzero.net), May 15, 2001