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In the Temple of the American Way The Mogambo Guru The prevailing theory is that pre-Christmas "currency in circulation" increases, which then supposedly declines after the gift-giving season is over. It never seems to actually do that, and it ain't happening this time, either. In fact, looking strictly at currency in circulation, since 1992 it has risen at pretty steady pace, compounding at an annual rate of 7.3%. And in other news, the Treasury sent us to another new record of debt, but the Fed is actually stepping back slightly on their creation of raw credit. Hmmm. And finally, in...

Today's WrapUp by Mike Hartman 05.20.2003 Tue No Change in Stocks, Bonds Up The stock market opened higher this morning with the announcement from Home Depot that their first quarter profit rose 6% with earnings coming in at 39 cents per share, which exceeded analysts’ estimates by two cents. Same store sales declined by 1.6%, but overall sales increased by 5.8% to $15.1 billion due to increases in stores opened less than a year, plus the 36 new stores opened during the first quarter. At the end of the day, Home Depot shares added $2.80 or 10% to close at...

Higher Calif. Power Rates Considered By KAREN GAUDETTE Associated Press Writer SAN FRANCISCO (AP) -- California's top energy regulator is considering raising rates by almost 50 percent to send a message to ``electricity hogs'' to ease up on power usage. Ratepayers have labeled the plan a ``rip-off'' that would hit 10 million homes and businesses fighting to stay cool amid rolling blackouts and spiraling energy costs. The higher rates could be in effect as early as Tuesday, after the Public Utilities Commission hears its president's plan to raise prices by an average of 3 cents per kilowatt hour. ``Electricity hogs ...

Strange to hear the radio chatter regarding Y2K today! I took a flight around Central Florida to give my Grandkids an introduction to General Aviation. While flying the coast along Brevard County, I was in contact with Patrick AFB for transition through their airspace. An Air Force General flew into PAFB under me (in a GA aircraft, not USAF) returning from a Christmas X-Country trip. He took the time to apologize to the Tower Crew for the cancellation of leaves due to the "Y2K Alert" but told them it was very necessary but "hopefully just a drill". The communications went ...