Despite the natural, national stories about this Mavericks' trip to the NBA Finals being all about avenging the meltdown in 2006, that thought process simply isn't there.
Different teams. Different cheap fashion wholesale times. Dwyane Wade is still with the Heat. Terry and Dirk Nowitzki are with the Mavericks. Beyond that, the focus is elsewhere.
"For us, once these playoffs started, we looked at the road to the championship, and you have to go through the Lakers," Terry said Friday. "That was the only thing that was a given.
"Destiny? Maybe. Fate? Yeah. But for us, the only two people on this team still playing (from '06) are Dirk and I. For them it's Wade and (Udonis) Haslem. It's really not the same. People wanted to compare us at that time to this time now. It's just different."
Rather than get caught up in the history, the Mavericks are more concerned with devising ways to deal with the potent Heat.
Having dispensed with a Lite-version Big Three from Oklahoma City in Kevin Durant, Russell Westbrook and James Harden, the Mavericks now can zero in on the full-bodied trio in Miami.
And they know how difficult it will be to handle LeBron James, Wade and Chris Bosh.
"There are similarities," coach Rick Carlisle said. "They're more experienced and they're more powerful at those wing positions. James and Wade are just built bigger physically. So that presents a different kind of challenge.
"For me, the big keys in the series are going to be efficiency with the ball, because when you turn it over, they convert better than any team in basketball. It's challenging because they're a great defensive team and they get their hands on a lot of balls. We're going to have to be aggressive, but play smart.
"And (secondly), then keeping them off the free throw line is going to be a big challenge because of James and Wade. Their ability to attack is going to create huge challenges for us."
The Mavericks' defense has grown teeth during the playoff run. They have handled LaMarcus Aldridge, Kobe Bryant, Durant and Westbrook.
Now, the league's brightest star-powered team is in front of them. It will require a lot of teamwork, which is a good thing since that's been one of the Mavericks' strengths.
"They're tough to keep in front of them," Nowitzki said. "They're so good at putting their heads down and getting to the basket and getting fouled, but we had some of it, actually, last series.
"That's a big part of the series, trying to get those guys out of the lane, and the whole league is trying to do it. But it's hard. If they get in the lane, they're so explosive."
Invariably, though, each team's fortitude will be a determining factor, Terry said.
"This is primarily about will to win," Terry said. "Who wants it more? That's what it's going to boil down to - to a man. It's not going to be one individual, three individuals. If three of y'all want it and the other 10 don't or there's some indecision, the balance is going to shift."
The free throw line, of course, brings up painful memories for the Mavericks.
Wade wore out the hardwood making constant trips to the stripe during the 2006 %Finals, shooting 97 free throws in the six games, including 72 in the final four, all Heat victories.
The Mavericks had trouble cheap fashion 2011 keeping Westbrook and Durant off the line.
A parade to the free throw line is always possible. But these NBA Finals figure to evolve into an entertaining two weeks, no matter what.
2011年5月27日星期五
Passage came late Thursday after a protracted political struggle
The administration had warned Congress that any interruption in the surveillance authority would threaten national security.
that played out over several months, a sign of increased unease with powers granted to the federal government to investigate citizens and foreigners in the aftermath of the terrorist attacks of Sept. 11, 2001.
Conservative Republicans, many of them elected with backing from the "tea party" movement, and liberal Democrats resisted attempts to extend the three expiring provisions of the act.
Dramatizing the debate this week, Sen. Rand Paul (R-Ky.) held up Senate floor proceedings to protest what he characterized as an unconstitutional overreach by the federal government into private affairs.
Earlier this year, unexpected opposition from a block of House Republicans thwarted a short-term extension of the retiring provisions, temporarily derailing the bill in that chamber.
Democrats similarly have opposed the post-Sept. 11 government authority, and this week's standoff risked an expiration of the provisions at midnight.
"We all want security — nobody wants what happened on 9/11 to happen again," Paul said. "But I think we don't need to simplify the debate to such an extent that we simply say we have to give up our liberties."
Supporters said that extending the provisions would ensure no disruption in the government's ability to conduct surveillance that they say has proved crucial to the ability of intelligence agencies to amass information vital to keeping the country safe.
By extending the measures through June 1, 2015, lawmakers codified a compromise with Republican leaders who preferred a permanent extension.
"The Patriot Act has been plagued by myths and misinformation for 10 years," said Rep. F. James Sensenbrenner Jr. (R-Wis.). "If Congress fails to reauthorize these laws before they expire, America's national security and that of its citizens will be the most vulnerable in a decade."
When authorized by Obama, the White House may use an "autopen" to replicate his signature. Similar machines have been used by past presidents, other public officials and celebrities and business officials to replicate their signatures.
One of the sections of the Patriot Act extended by Congress is the "roving wiretap" power, which allows federal authorities to listen in on conversations of foreign suspects even when they change phones or locations.
Another section gives the government access to the personal records of terrorism suspects; it's often called the "library provision" because of the wide range of personal material that can be investigated.
A third section is known as the "lone wolf" provision because it gives the government the authority to investigate foreigners who have no known affiliation with terrorist groups.
All of these government powers require an order from secret federal courts.
Senate leaders reached an agreement that allowed two amendments from Paul that sought to rein in the authority to investigate gun records and financial transactions, but both failed to advance.
The House voted 250 to 153, with 31 Republicans and 122 Democrats opposed.
Earlier, the Senate approved the bill 72 to 23. Four Republicans — Paul and Sens. Dean Heller of Nevada, Mike Lee of Utah and Lisa Murkowski of Alaska — joined 18 Democrats and independent Sen. Bernie Sanders of Vermont in opposition.
that played out over several months, a sign of increased unease with powers granted to the federal government to investigate citizens and foreigners in the aftermath of the terrorist attacks of Sept. 11, 2001.
Conservative Republicans, many of them elected with backing from the "tea party" movement, and liberal Democrats resisted attempts to extend the three expiring provisions of the act.
Dramatizing the debate this week, Sen. Rand Paul (R-Ky.) held up Senate floor proceedings to protest what he characterized as an unconstitutional overreach by the federal government into private affairs.
Earlier this year, unexpected opposition from a block of House Republicans thwarted a short-term extension of the retiring provisions, temporarily derailing the bill in that chamber.
Democrats similarly have opposed the post-Sept. 11 government authority, and this week's standoff risked an expiration of the provisions at midnight.
"We all want security — nobody wants what happened on 9/11 to happen again," Paul said. "But I think we don't need to simplify the debate to such an extent that we simply say we have to give up our liberties."
Supporters said that extending the provisions would ensure no disruption in the government's ability to conduct surveillance that they say has proved crucial to the ability of intelligence agencies to amass information vital to keeping the country safe.
By extending the measures through June 1, 2015, lawmakers codified a compromise with Republican leaders who preferred a permanent extension.
"The Patriot Act has been plagued by myths and misinformation for 10 years," said Rep. F. James Sensenbrenner Jr. (R-Wis.). "If Congress fails to reauthorize these laws before they expire, America's national security and that of its citizens will be the most vulnerable in a decade."
When authorized by Obama, the White House may use an "autopen" to replicate his signature. Similar machines have been used by past presidents, other public officials and celebrities and business officials to replicate their signatures.
One of the sections of the Patriot Act extended by Congress is the "roving wiretap" power, which allows federal authorities to listen in on conversations of foreign suspects even when they change phones or locations.
Another section gives the government access to the personal records of terrorism suspects; it's often called the "library provision" because of the wide range of personal material that can be investigated.
A third section is known as the "lone wolf" provision because it gives the government the authority to investigate foreigners who have no known affiliation with terrorist groups.
All of these government powers require an order from secret federal courts.
Senate leaders reached an agreement that allowed two amendments from Paul that sought to rein in the authority to investigate gun records and financial transactions, but both failed to advance.
The House voted 250 to 153, with 31 Republicans and 122 Democrats opposed.
Earlier, the Senate approved the bill 72 to 23. Four Republicans — Paul and Sens. Dean Heller of Nevada, Mike Lee of Utah and Lisa Murkowski of Alaska — joined 18 Democrats and independent Sen. Bernie Sanders of Vermont in opposition.
2011年5月25日星期三
The district stretches from the suburbs of Buffalo to the suburbs of Rochester
History shows special elections can be good predictors of the next election cycle. Tom Brunell, a political scientist at the University cheap wholesale clothing of Texas-Dallas, studied special elections from 1900 to 2008. When Democrats gained seats in special elections, they also gained in the next general election 82% of the time, he found. "It's a horse race, and we're definitely out of the gate for the 2012 election," Brunell said. "But we're at the first post here."
One pollster who correctly predicted the outcome said he's not sure it means anything nationally. "Jane Corwin and her team ran a lousy campaign," said Siena College's Steven Greenberg. "They let Hochul beat them up on the Medicare issue, and they didn't come up with a response."
Tuesday's election followed the resignation of Rep. Chris Lee, a Republican who sent shirtless photos to a woman he met through the Craigslist website.
Final, unofficial results gave Hochul, the Erie County clerk, 47%. Corwin, a state assemblywoman, received 43%. Tea Party candidate Jack Davis took 9% of the vote. He has run as a Democrat in the past, and polls say he took votes from both major candidates.
The district stretches from the suburbs of Buffalo to the suburbs of Rochester. Decimated by manufacturing losses over decades, the district's demographics skew older than the rest of America. Republicans have an 8-point advantage in voter registration.
"New York Republicans, even upstate Republicans, are not like Republicans across the nation," Greenberg said. Although they have a favorable view of House Speaker John Boehner and support repealing the health care law, they also overwhelmingly favor tax hikes on the wealthy.
The architect of the Republicans' Medicare plan, House Budget Committee Chairman Paul Ryan, didn't object to the idea that it was a defining issue in the race.
"There is a Medicare story to be told cheap fashion here," Ryan said on MSNBC. "The president and his party have decided to shamelessly distort and demagogue Medicare."
By the time Democrat Kathy Hochul declared an upset victory over Republican Jane Corwin in the special election Tuesday night in the western New York district, Medicare was the defining issue.
According to a Siena College Research Institute poll conducted late last week, 74% of voters who identified Medicare as the top issue supported Hochul.
Democrats seized on the result as evidence that the Republican plan for sweeping changes to Medicare was backfiring, and the GOP was cracking over the issue. On Wednesday, the U.S. Senate voted 57-40 to reject the Medicare plan. Five Republicans voted with the Democrats.
Steve Israel, chairman of the Democratic Congressional Campaign Committee, said the New York election shows his party could pick up 97 House seats next year — more than the 63 they lost to the GOP last fall. "I'm not going to get cocky," he said. "The fact is if we can win in one of most conservative Republican districts in America, then we can win in many other places."
"To predict the future based on the results of this wholesale clothing unusual race is naive and risky," Pete Sessions, Israel's GOP counterpart, said in a statement. He made no mention of Medicare.
One pollster who correctly predicted the outcome said he's not sure it means anything nationally. "Jane Corwin and her team ran a lousy campaign," said Siena College's Steven Greenberg. "They let Hochul beat them up on the Medicare issue, and they didn't come up with a response."
Tuesday's election followed the resignation of Rep. Chris Lee, a Republican who sent shirtless photos to a woman he met through the Craigslist website.
Final, unofficial results gave Hochul, the Erie County clerk, 47%. Corwin, a state assemblywoman, received 43%. Tea Party candidate Jack Davis took 9% of the vote. He has run as a Democrat in the past, and polls say he took votes from both major candidates.
The district stretches from the suburbs of Buffalo to the suburbs of Rochester. Decimated by manufacturing losses over decades, the district's demographics skew older than the rest of America. Republicans have an 8-point advantage in voter registration.
"New York Republicans, even upstate Republicans, are not like Republicans across the nation," Greenberg said. Although they have a favorable view of House Speaker John Boehner and support repealing the health care law, they also overwhelmingly favor tax hikes on the wealthy.
The architect of the Republicans' Medicare plan, House Budget Committee Chairman Paul Ryan, didn't object to the idea that it was a defining issue in the race.
"There is a Medicare story to be told cheap fashion here," Ryan said on MSNBC. "The president and his party have decided to shamelessly distort and demagogue Medicare."
By the time Democrat Kathy Hochul declared an upset victory over Republican Jane Corwin in the special election Tuesday night in the western New York district, Medicare was the defining issue.
According to a Siena College Research Institute poll conducted late last week, 74% of voters who identified Medicare as the top issue supported Hochul.
Democrats seized on the result as evidence that the Republican plan for sweeping changes to Medicare was backfiring, and the GOP was cracking over the issue. On Wednesday, the U.S. Senate voted 57-40 to reject the Medicare plan. Five Republicans voted with the Democrats.
Steve Israel, chairman of the Democratic Congressional Campaign Committee, said the New York election shows his party could pick up 97 House seats next year — more than the 63 they lost to the GOP last fall. "I'm not going to get cocky," he said. "The fact is if we can win in one of most conservative Republican districts in America, then we can win in many other places."
"To predict the future based on the results of this wholesale clothing unusual race is naive and risky," Pete Sessions, Israel's GOP counterpart, said in a statement. He made no mention of Medicare.
2011年5月20日星期五
The largest crowds nationwide Friday were in Madrid wholesale sandals
The decision comes as protests against Spain's economic crisis continued for a sixth day on Friday in many wholesale sandals cities, just two days ahead of local and regional elections that are scheduled across the Iberian nation. The ruling means no such protests can legally occur on Saturday.
This follows a ruling from late Thursday, when Spain's electoral board said that the demonstrations, organized largely via social media networks, would be banned on Saturday. That day is supposed to be a "day of reflection" for voters -- the idea being that there should be no campaigning immediately preceding Sunday's balloting -- the board said.
Now the government of the ruling Socialist Party must decide whether the police should keep a safe distance, as they did last Wednesday when a demonstration was banned but wholesale sandals went ahead anyway, or if they will crack down. Socialist politicians are widely expected to suffer deep losses to the conservatives, according to recent polls.
"What we are going to do is comply with the law," Interior Minister Alfredo Perez Rubalcaba told reporters Friday.
Yet Perez, who is also Deputy Prime Minister, added that the police would not be there to create even more wholesale sandals problems than already exist in the streets.
Economist Fernando Fernandez of the IE Business School predicted that police late Friday would try to peacefully seal off Puerta del Sol plaza to prevent more demonstrators from arriving, and let those in the plaza eventually leave.
"The government does not want to have any sort of violence taking place the day prior to the elections. This would have a very large political cost and electoral cost," Fernandez told CNN.
"People want to participate. This is a fiesta of democracy," Sofia de Roa, a spokeswoman for the protesters, told CNN.
The largest crowds nationwide Friday were in Madrid, where thousands of mostly young demonstrators returned to the central Puerta del Sol plaza.
Demonstrators are protesting Spain's 21% unemployment rate, the highest in the euro zone, and a record 4.9 million wholesale sandals people who are out of work. The jobless rate for youth -- those between ages 15 and 24 -- is 42%.
Protesters say that many temporary labor contracts offer few or no job benefits. In addition, some are protesting against the political and financial establishment that they say is to blame.
The protests appear to have gained momentum in the closing days of the campaign. They have captured considerable news media coverage, and all major parties have acknowledged them.
Prime Minister Jose Luis Rodriguez Zapatero said in an interview with SER radio on Friday that voters ultimately will decide whether and how much change will be made.
On Sunday, voters in Spain's 8,000 cities and towns will elect mayors, along with 13 out of 17 regional presidents and parliaments. The results are expected to be a bellwether for national elections, which must happen no later than March 2012.
De Roa, a journalist who works for a university communications office, said protester assemblies, their ad hoc decision-making bodies, have called for a demonstration on Saturday night despite the no-campaigning tradition on the eve of a Spanish election.
She said the protests also are expected to continue nightly, even after the elections.
"We're not leaving until there's a change," she said, standing amid thousands of protesters in Madrid's emblematic central square. "Until a politician commits to implementing the proposals here."
Beatriz Elosegui, a government worker, said Thursday she had been to several protests since they started on Sunday. Her husband, an advertising executive, is out of work and her wholesale sandals son is about to finish his training to become an electrician but has few job prospects, she said.
Two young men who appeared to be the only ones wearing suits and ties in the crowd said they showed up Thursday for the first time. Both said they work as accountants, and one, Andres Maldonado, complained of tight credit that is squeezing homeowners wholesale cheap fashion and small businesses. He said government efforts to inject liquidity into the financial system are not working.
Besides Madrid, there were also wholesale sandals protests in Barcelona, Valencia and other cities in Spain. Up to a few hundred protesters have camped out in central squares each night, but the main protests are in the evening.
This follows a ruling from late Thursday, when Spain's electoral board said that the demonstrations, organized largely via social media networks, would be banned on Saturday. That day is supposed to be a "day of reflection" for voters -- the idea being that there should be no campaigning immediately preceding Sunday's balloting -- the board said.
Now the government of the ruling Socialist Party must decide whether the police should keep a safe distance, as they did last Wednesday when a demonstration was banned but wholesale sandals went ahead anyway, or if they will crack down. Socialist politicians are widely expected to suffer deep losses to the conservatives, according to recent polls.
"What we are going to do is comply with the law," Interior Minister Alfredo Perez Rubalcaba told reporters Friday.
Yet Perez, who is also Deputy Prime Minister, added that the police would not be there to create even more wholesale sandals problems than already exist in the streets.
Economist Fernando Fernandez of the IE Business School predicted that police late Friday would try to peacefully seal off Puerta del Sol plaza to prevent more demonstrators from arriving, and let those in the plaza eventually leave.
"The government does not want to have any sort of violence taking place the day prior to the elections. This would have a very large political cost and electoral cost," Fernandez told CNN.
"People want to participate. This is a fiesta of democracy," Sofia de Roa, a spokeswoman for the protesters, told CNN.
The largest crowds nationwide Friday were in Madrid, where thousands of mostly young demonstrators returned to the central Puerta del Sol plaza.
Demonstrators are protesting Spain's 21% unemployment rate, the highest in the euro zone, and a record 4.9 million wholesale sandals people who are out of work. The jobless rate for youth -- those between ages 15 and 24 -- is 42%.
Protesters say that many temporary labor contracts offer few or no job benefits. In addition, some are protesting against the political and financial establishment that they say is to blame.
The protests appear to have gained momentum in the closing days of the campaign. They have captured considerable news media coverage, and all major parties have acknowledged them.
Prime Minister Jose Luis Rodriguez Zapatero said in an interview with SER radio on Friday that voters ultimately will decide whether and how much change will be made.
On Sunday, voters in Spain's 8,000 cities and towns will elect mayors, along with 13 out of 17 regional presidents and parliaments. The results are expected to be a bellwether for national elections, which must happen no later than March 2012.
De Roa, a journalist who works for a university communications office, said protester assemblies, their ad hoc decision-making bodies, have called for a demonstration on Saturday night despite the no-campaigning tradition on the eve of a Spanish election.
She said the protests also are expected to continue nightly, even after the elections.
"We're not leaving until there's a change," she said, standing amid thousands of protesters in Madrid's emblematic central square. "Until a politician commits to implementing the proposals here."
Beatriz Elosegui, a government worker, said Thursday she had been to several protests since they started on Sunday. Her husband, an advertising executive, is out of work and her wholesale sandals son is about to finish his training to become an electrician but has few job prospects, she said.
Two young men who appeared to be the only ones wearing suits and ties in the crowd said they showed up Thursday for the first time. Both said they work as accountants, and one, Andres Maldonado, complained of tight credit that is squeezing homeowners wholesale cheap fashion and small businesses. He said government efforts to inject liquidity into the financial system are not working.
Besides Madrid, there were also wholesale sandals protests in Barcelona, Valencia and other cities in Spain. Up to a few hundred protesters have camped out in central squares each night, but the main protests are in the evening.
2011年5月18日星期三
Gross domestic product contracted an annualized 3.7 percent
Japan’s economy shrank more cheap feather hair extensions than estimated in the first quarter after the March 11 earthquake and tsunami disrupted production and prompted consumers to cut back cheap fashion spending, sending the nation to its third recession in a decade.
in the three months through March, following a revised 3 percent drop in the previous quarter, the feather hair extensions Cabinet Office said today in Tokyo. The median forecast of 23 economists surveyed by Bloomberg News was for a 1.9 percent drop. Economists typically define a recession as two consecutive quarters of contraction.
The March disaster hit an economy already weighed down by years of deflation and subdued consumer spending and that was reliant on exports for growth. The economy will probably shrink further this quarter before rebounding in the second half as supply constraints ease and reconstruction begins, according to a survey of analyst forecasts by a government-affiliated group.
“The negative economic impact from the disaster will be on full display during the second quarter,” Hiroshi Watanabe, a senior economist at the Daiwa Institute of Research in Tokyo, said before the report. “This recession may be deep, but short.”
The Nikkei 225 (NKY) Stock Average rose 0.3 percent at 9:28 a.m., after the Federal Reserve signaled U.S. interest rates will remain low and commodity prices advanced. The Nikkei has lost 7 percent since the quake and tsunami, which left more than 24,000 dead or missing. The yen traded at 81.70 against the dollar, compared with 81.69 before the report was published.
Highlighting the disaster’s effect on companies, Toyota Motor Corp. said profits plunged while Nippon Stee feather hair extensions l Corp. reported its first net loss in six quarters, after the quake closed plants, cut supply chains and caused power shortage.
Factory output fell by a record and retail sales and exports declined in March because of power shortages spurred by a nuclear accident in Fukushima, northeast of Tokyo, and damage to transportation facilities after the temblor.
“It’s hard to think that companies will become aggressive about increasing business spending when uncertainties remain strong,” said Junko Nishioka, chief economist at RBS Securities Japan Ltd. in Tokyo. “Capital spending will likely be in a declining trend as corporate profits may do worse than expected.”
Capital investment dropped 0.9 cheap fashion percent in the first quarter, the first decline in six quarters, today’s data showed.
Consumer spending fell 0.6 percent in the January-March period from the previous three months, today’s report showed.
From the previous quarter, the economy shrank 0.9 percent in the first three months of 2011, today’s report showed. In nominal terms, the economy contracted an annualized 5.2 percent in the first quarter, today’s report showed.
Net exports, or shipments less imports, subtracted 0.2 percentage point from GDP.
The economy will probably contract cheap feather hair extensions 2011 at a 3.3 percent annual pace this quarter, and then resume growth the next two quarters, according to the average forecast of 43 economists in a survey by the government-affiliated Economic Planning Association released on May 16.
Japan’s GDP shrank for four straight quarters during the global financial crisis, and contracted for cheap feather hair extensions three straight quarters in 2001. Consumer prices excluding fresh food costs have dropped every month since March 2009, underscoring the deflationary pressure that has sapped consumer demand.
The GDP deflator, a gauge of price trends, fell 1.9 percent in the first quarter from a year earlier, today’s report showed.
The Japanese government, like the U.S., doesn’t define a recession as two consecutive quarterly GDP declines. The Cabinet Office appoints a committee of academics to determine when recoveries and recessions begin and end.
Toyota Motor, the world’s largest carmaker, said last week that profit slumped 77 percent to the lowest in 1 1/2 years for the three months ended March 31 after the earthquake forced it to halt production and depressed its domestic sales.
Nippon Steel, Japan’s biggest steelmaker, said in April it posted a worse-than-expected loss in the fiscal fourth-quarter after the temblor damaged plants. The company’s output is expected to drop by 7 percent to 8 percent this quarter as damaged carmaker facilities damp orders.
Kan Stimulus
Prime Minister Naoto Kan plans to come up with second extra budget for reconstruction after parliament approved a 4 trillion yen ($49 billion) budget this month. He will need the cooperation of opposition party politicians, who control the Upper House of parliament, to get the second budget enacted. The government in March estimated that damage from the disaster will swell to as high as 25 trillion yen.
Japan’s central bank injected record amounts of cash into the money market after the quake, and doubled to 10 trillion yen a fund to buy assets such as corporate bonds and real estate investment trusts. The Bank of Japan’s policy board last month rejected a proposal by a deputy governor to expand that fund.
Some data suggest that demand may recover earlier than expected after the quake.
Machinery orders, an indicator cheap fashion of future capital spending, unexpectedly increased in March, while companies said they plan to increase factory output in April and May.
Honda Motor Co., Japan’s third-largest automaker, said this week it will return to normal production before the cheap feather hair extensions end of the year as its production has recovered faster than it expected. Toyota Motor and Nissan Motor Co. have also said the recovery in production is quicker than expected.
“We look for a classic 2011 cheap fashion wholesale V-shaped recovery in the July-to- September period and after,” said Kyohei Morita, chief economist at Barclays Capital in Tokyo. “A self-sustaining recovery in production, an increase in government consumption and reconstruction demand centered around public works will likely support the economy.”
in the three months through March, following a revised 3 percent drop in the previous quarter, the feather hair extensions Cabinet Office said today in Tokyo. The median forecast of 23 economists surveyed by Bloomberg News was for a 1.9 percent drop. Economists typically define a recession as two consecutive quarters of contraction.
The March disaster hit an economy already weighed down by years of deflation and subdued consumer spending and that was reliant on exports for growth. The economy will probably shrink further this quarter before rebounding in the second half as supply constraints ease and reconstruction begins, according to a survey of analyst forecasts by a government-affiliated group.
“The negative economic impact from the disaster will be on full display during the second quarter,” Hiroshi Watanabe, a senior economist at the Daiwa Institute of Research in Tokyo, said before the report. “This recession may be deep, but short.”
The Nikkei 225 (NKY) Stock Average rose 0.3 percent at 9:28 a.m., after the Federal Reserve signaled U.S. interest rates will remain low and commodity prices advanced. The Nikkei has lost 7 percent since the quake and tsunami, which left more than 24,000 dead or missing. The yen traded at 81.70 against the dollar, compared with 81.69 before the report was published.
Highlighting the disaster’s effect on companies, Toyota Motor Corp. said profits plunged while Nippon Stee feather hair extensions l Corp. reported its first net loss in six quarters, after the quake closed plants, cut supply chains and caused power shortage.
Factory output fell by a record and retail sales and exports declined in March because of power shortages spurred by a nuclear accident in Fukushima, northeast of Tokyo, and damage to transportation facilities after the temblor.
“It’s hard to think that companies will become aggressive about increasing business spending when uncertainties remain strong,” said Junko Nishioka, chief economist at RBS Securities Japan Ltd. in Tokyo. “Capital spending will likely be in a declining trend as corporate profits may do worse than expected.”
Capital investment dropped 0.9 cheap fashion percent in the first quarter, the first decline in six quarters, today’s data showed.
Consumer spending fell 0.6 percent in the January-March period from the previous three months, today’s report showed.
From the previous quarter, the economy shrank 0.9 percent in the first three months of 2011, today’s report showed. In nominal terms, the economy contracted an annualized 5.2 percent in the first quarter, today’s report showed.
Net exports, or shipments less imports, subtracted 0.2 percentage point from GDP.
The economy will probably contract cheap feather hair extensions 2011 at a 3.3 percent annual pace this quarter, and then resume growth the next two quarters, according to the average forecast of 43 economists in a survey by the government-affiliated Economic Planning Association released on May 16.
Japan’s GDP shrank for four straight quarters during the global financial crisis, and contracted for cheap feather hair extensions three straight quarters in 2001. Consumer prices excluding fresh food costs have dropped every month since March 2009, underscoring the deflationary pressure that has sapped consumer demand.
The GDP deflator, a gauge of price trends, fell 1.9 percent in the first quarter from a year earlier, today’s report showed.
The Japanese government, like the U.S., doesn’t define a recession as two consecutive quarterly GDP declines. The Cabinet Office appoints a committee of academics to determine when recoveries and recessions begin and end.
Toyota Motor, the world’s largest carmaker, said last week that profit slumped 77 percent to the lowest in 1 1/2 years for the three months ended March 31 after the earthquake forced it to halt production and depressed its domestic sales.
Nippon Steel, Japan’s biggest steelmaker, said in April it posted a worse-than-expected loss in the fiscal fourth-quarter after the temblor damaged plants. The company’s output is expected to drop by 7 percent to 8 percent this quarter as damaged carmaker facilities damp orders.
Kan Stimulus
Prime Minister Naoto Kan plans to come up with second extra budget for reconstruction after parliament approved a 4 trillion yen ($49 billion) budget this month. He will need the cooperation of opposition party politicians, who control the Upper House of parliament, to get the second budget enacted. The government in March estimated that damage from the disaster will swell to as high as 25 trillion yen.
Japan’s central bank injected record amounts of cash into the money market after the quake, and doubled to 10 trillion yen a fund to buy assets such as corporate bonds and real estate investment trusts. The Bank of Japan’s policy board last month rejected a proposal by a deputy governor to expand that fund.
Some data suggest that demand may recover earlier than expected after the quake.
Machinery orders, an indicator cheap fashion of future capital spending, unexpectedly increased in March, while companies said they plan to increase factory output in April and May.
Honda Motor Co., Japan’s third-largest automaker, said this week it will return to normal production before the cheap feather hair extensions end of the year as its production has recovered faster than it expected. Toyota Motor and Nissan Motor Co. have also said the recovery in production is quicker than expected.
“We look for a classic 2011 cheap fashion wholesale V-shaped recovery in the July-to- September period and after,” said Kyohei Morita, chief economist at Barclays Capital in Tokyo. “A self-sustaining recovery in production, an increase in government consumption and reconstruction demand centered around public works will likely support the economy.”
2011年5月16日星期一
I emphasised to our Pakistani friends
Please respect FT.com's ts&cs and copyright policy which allow you to: share links; copy content for personal use; & redistribute limited extracts. Email ftsales.support@ft.com to buy additional rights or use this link to reference the article Many members of Congress have suggested it was inconceivable that Pakistani officials did not know the al-Qaeda leader was on Pakistani soil, and have argued that the roughly $3bn a year Islamabad gets from the US a year was not well spent.
“I emphasised to our Pakistani friends – and they are friends – that many in Congress are raising tough questions about our ongoing economic assistance to the government of Pakistan because of the events as they unfolded, and because of the presence of Osama bin Laden in Pakistan,” Mr Kerry said.
At the same time, Pakistani legislators have expressed deep anger at the US Navy Seals strike in Abbottabad, a military town, and have suggested that Pakistan’s vital logistical support for the Afghanistan war could be thrown into question.
Because 40 per cent of supplies for the Afghan war effort go through Pakistan, US officials argue that scope for reducing US aid for Islamabad is limited, because of the risk that Pakistan could cut off transit routes in retaliation.
The US is also seeking to maintain good relations with Pakistan because of the country’s status as a nuclear weapons state outside the non-proliferation treaty.
The Institute for Science and International Security, a Washington-based think-tank, said on Monday that Islamabad was ramping up its nuclear weapons programme with three new reactors that would “roughly double Pakistan’s annual ability to build nuclear weapons to about 19-26 nuclear weapons per year”.
ISIS and other groups are particularly worried about the safety of weapons-grade nuclear materials kept in Pakistani laboratories.
A joint statement agreed by Mr Kerry and the Pakistani government struck a note of harmony and said the two countries would work together in any future action against “high value targets” – in contrast to the Abbottabad raid.
But Congressional officials made clear that Mr Kerry was speaking only on his own behalf. Barack Obama won the US presidency promising he would take action against al-Qaeda targets if Pakistan was unwilling to do so – and US officials have said they did not tell Pakistan of the raid for fear the extremist group could have been tipped off.
Mr Kerry added that Pakistan had agreed to hand over the wreckage of a US Blackhawk helicopter destroyed during the raid.
Some western officials had feared that Pakistan might pass the wreckage on to China, to allow Beijing an insight into US stealth technology.
.Copyright The Financial Times Limited 2011. You may share using our article tools. Please don't cut articles from FT.com and redistribute by email or post to the web.
“I emphasised to our Pakistani friends – and they are friends – that many in Congress are raising tough questions about our ongoing economic assistance to the government of Pakistan because of the events as they unfolded, and because of the presence of Osama bin Laden in Pakistan,” Mr Kerry said.
At the same time, Pakistani legislators have expressed deep anger at the US Navy Seals strike in Abbottabad, a military town, and have suggested that Pakistan’s vital logistical support for the Afghanistan war could be thrown into question.
Because 40 per cent of supplies for the Afghan war effort go through Pakistan, US officials argue that scope for reducing US aid for Islamabad is limited, because of the risk that Pakistan could cut off transit routes in retaliation.
The US is also seeking to maintain good relations with Pakistan because of the country’s status as a nuclear weapons state outside the non-proliferation treaty.
The Institute for Science and International Security, a Washington-based think-tank, said on Monday that Islamabad was ramping up its nuclear weapons programme with three new reactors that would “roughly double Pakistan’s annual ability to build nuclear weapons to about 19-26 nuclear weapons per year”.
ISIS and other groups are particularly worried about the safety of weapons-grade nuclear materials kept in Pakistani laboratories.
A joint statement agreed by Mr Kerry and the Pakistani government struck a note of harmony and said the two countries would work together in any future action against “high value targets” – in contrast to the Abbottabad raid.
But Congressional officials made clear that Mr Kerry was speaking only on his own behalf. Barack Obama won the US presidency promising he would take action against al-Qaeda targets if Pakistan was unwilling to do so – and US officials have said they did not tell Pakistan of the raid for fear the extremist group could have been tipped off.
Mr Kerry added that Pakistan had agreed to hand over the wreckage of a US Blackhawk helicopter destroyed during the raid.
Some western officials had feared that Pakistan might pass the wreckage on to China, to allow Beijing an insight into US stealth technology.
.Copyright The Financial Times Limited 2011. You may share using our article tools. Please don't cut articles from FT.com and redistribute by email or post to the web.
The earnings season is slowly coming to an end
Banks and utilities lost further ground on worries about how
much cheap fashion wholesale 2011 they will have to contribute to help troubled nuclear
operator Tokyo Electric cheap fashion wholesale 2011 Power (Tepco) compensate
victims of the crisis at its tsunami-hit nuclear plant. The mood was also soured after Goldman Sachs downgraded its
recommendation on Japanese stocks to "underweight" from "market
weight", citing a weaker global macro backdrop, supply chain and
electricity supply problems after the March 11 earthquake as
well as a stronger yen. "We have entered a 'risk-off' stage in Tokyo. The earnings season is slowly coming to an end so traders are again
shifting their focus from micro factors like earnings to the
broader macro picture," said Makoto Kikuchi, chief executive
officer at Myojo Asset Management. The benchmark Nikkei average ended down for a third
straight day, losing 0.9 percent to 9,558.30, while the broader
Topix shed 1.2 percent to 829.55. Analysts said a decisive break below its closing
level may push the Nikkei to the bottom of its daily Ichimoku
cloud at 9,533,88, and if that level is then broken, it would be
a major bearish signal triggering more selling. "If overseas stocks slip again, the Nikkei may fall as low
as 9,300," he added. Market participants said risk factors for Tokyo stocks
included volatile commodities markets, a possible correction
ahead for U.S. stocks as the Federal Reserve ends its supportive
policy, and the fear of a worsening euro-zone debt crisis. Goldman Sachs lowered its 12 month target for TOPIX to 970
from 1,050 and said its Japan index targets imply 1 percent, 4
percent and 15 percent upside over 3, 6 and 12 months
respectively, compared to 8 percent, 13 percent and 25 percent
for Asian stocks outside Japan for the same periods. The Nikkei has tumbled more than 8 percent since the March
11 disasters, while Asian stocks outside Japan
have gained 5 percent over the last two months.
BANKS, UTILITIES EXTEND LOSSES Banks fell further after comments from the government's top
spokesman sparked concern on Friday that banks are likely to be
asked to ease troubled Tepco's cheap fashion wholesale 2011 loan burden. Although Japanese officials on Sunday denied the government
will ask banks to forgive loans to Tepco, investors still seemed
worried.[ID:nL4E7GF015] "The problem is that there seems to be a
difference of opinions on this issue inside the government. The
fact is that they don't seem to know what to do and that is
undermining investor confidence," said Masayuki Otani, chief
market analyst at Securities Japan Inc. "This uncertainty can keep a lid on bank stocks
for a longer while," Otani said. Mitsubishi UFJ Financial Group shed 1.6 percent to
377 yen and Sumitomo Mitsui Financial Group weakened
2.1 percent to 2,401 yen. SMFG also said on Friday it expects
core lending to remain sluggish this year.[ID:nL3E7GD29Y] Utility stocks extended losses into a third day after the
government approved on Friday a plan to help Tepco compensate
victims of the crisis at its tsunami-crippled nuclear plant and
said other utilities would be asked to pay annual premiums to
help fund compensation. Shares initially fell on Thursday in
anticipation of the move.[ID:nL3E7GD00T] Chubu Electric fell 4.5 percent to 1,417
yen and Tohoku Electric lost 5.4 percent to 1,060 yen. But surprisingly strong machinery orders data boosted shares
of construction companies cheap fashion wholesale 2011 and machinery makers on hopes that
reconstruction demand will bolster capital spending.
much cheap fashion wholesale 2011 they will have to contribute to help troubled nuclear
operator Tokyo Electric cheap fashion wholesale 2011 Power (Tepco) compensate
victims of the crisis at its tsunami-hit nuclear plant. The mood was also soured after Goldman Sachs downgraded its
recommendation on Japanese stocks to "underweight" from "market
weight", citing a weaker global macro backdrop, supply chain and
electricity supply problems after the March 11 earthquake as
well as a stronger yen. "We have entered a 'risk-off' stage in Tokyo. The earnings season is slowly coming to an end so traders are again
shifting their focus from micro factors like earnings to the
broader macro picture," said Makoto Kikuchi, chief executive
officer at Myojo Asset Management. The benchmark Nikkei average ended down for a third
straight day, losing 0.9 percent to 9,558.30, while the broader
Topix shed 1.2 percent to 829.55. Analysts said a decisive break below its closing
level may push the Nikkei to the bottom of its daily Ichimoku
cloud at 9,533,88, and if that level is then broken, it would be
a major bearish signal triggering more selling. "If overseas stocks slip again, the Nikkei may fall as low
as 9,300," he added. Market participants said risk factors for Tokyo stocks
included volatile commodities markets, a possible correction
ahead for U.S. stocks as the Federal Reserve ends its supportive
policy, and the fear of a worsening euro-zone debt crisis. Goldman Sachs lowered its 12 month target for TOPIX to 970
from 1,050 and said its Japan index targets imply 1 percent, 4
percent and 15 percent upside over 3, 6 and 12 months
respectively, compared to 8 percent, 13 percent and 25 percent
for Asian stocks outside Japan for the same periods. The Nikkei has tumbled more than 8 percent since the March
11 disasters, while Asian stocks outside Japan
have gained 5 percent over the last two months.
BANKS, UTILITIES EXTEND LOSSES Banks fell further after comments from the government's top
spokesman sparked concern on Friday that banks are likely to be
asked to ease troubled Tepco's cheap fashion wholesale 2011 loan burden. Although Japanese officials on Sunday denied the government
will ask banks to forgive loans to Tepco, investors still seemed
worried.[ID:nL4E7GF015] "The problem is that there seems to be a
difference of opinions on this issue inside the government. The
fact is that they don't seem to know what to do and that is
undermining investor confidence," said Masayuki Otani, chief
market analyst at Securities Japan Inc. "This uncertainty can keep a lid on bank stocks
for a longer while," Otani said. Mitsubishi UFJ Financial Group shed 1.6 percent to
377 yen and Sumitomo Mitsui Financial Group weakened
2.1 percent to 2,401 yen. SMFG also said on Friday it expects
core lending to remain sluggish this year.[ID:nL3E7GD29Y] Utility stocks extended losses into a third day after the
government approved on Friday a plan to help Tepco compensate
victims of the crisis at its tsunami-crippled nuclear plant and
said other utilities would be asked to pay annual premiums to
help fund compensation. Shares initially fell on Thursday in
anticipation of the move.[ID:nL3E7GD00T] Chubu Electric fell 4.5 percent to 1,417
yen and Tohoku Electric lost 5.4 percent to 1,060 yen. But surprisingly strong machinery orders data boosted shares
of construction companies cheap fashion wholesale 2011 and machinery makers on hopes that
reconstruction demand will bolster capital spending.
订阅：
博文 (Atom)