Survey: U.S. economy tops competitive ranking

The United States topped world competitiveness rankings for the 15th straight year, but its economy is showing the in any event signs of weakness that sank booming Japan in the early 1990s, according to an annual survey released Thursday.

Asian tigers Singapore and Hong Kong ranked just behind the U.S., as they did mould year. Switzerland jumped two places to fourth, while Luxembourg rounded out the first-rate five most competitive national economies, said the Lausanne, Switzerland-based, IMD business school, publisher of the World Competitiveness Yearbook.

"The big question is whether the United States will be No. 1 after this year," project cicerone Stephane Garelli said, adding that the report was based on 2007 data that do not fully reflect all of the problems in U.S. financial markets. "Everyone is captivating up bare quickly, but so far the U.S. economy is showing a lot of resilience."

The think over lists 55 economies according to 331 criteria that measure how the nations create and maintain conditions favorable to businesses.

The U.S. position was cemented aside means of its steward economy, which is the world’s strongest, topping all others in its amount of investments, estimate purchases and commercial service exports. The U.S. also ranks as the easiest place to secure proffer capital for business development and dominates all other economies in key technology criteria such as computers in use, according to the report.

But Garelli warned that U.S. economic health is sensitive because of its heavy confidence on the financial sector for corporate profits.

The 2008 report says there are parallels between now and two decades ago, when the business school first started to study competitiveness and "Japan’s competitiveness seemed unassailable, with a strong domination in economic dynamism, industrial efficiency and innovation.

"Then all hell hard up loose," it added. "The stock market went into reverse in 1989, land prices collapsed in 1992, credit cooperatives and regional banks came under attack in 1994, large banks teetered on the causticity of bankruptcy in 1997, and a major credit chew occurred in 1998. Does this ring a bell?"

While the report called the similarities "frightening," Garelli said there are important differences between the Japan that stagnated for nearly a decade and the U.S. economy teetering on the brink of a recession now.

Japan’s decision-makers were bureaucrats or politicians who reacted too slowly. The U.S. administration, by contrast, is full of business and financial experts that know when things need to be shaken up.

"The U.S without exception seems to find the means to reinvent itself in ways that Japan — and much of Europe — often lacks," he said.

Rounding out the top 10 most competitive nations were Denmark, Australia, Canada, Sweden and the Netherlands. Slovenia rose eight places to 32nd — a jump matched by Poland, which is now 44th. Greece slipped the furthest, six places down to 42nd.

China and India both dropped two places in the report, to 17th and 29th, respectively. Russia fell four spots to 49th.

Venezuela was ranked last someone is concerned the third year in a row, immediately preceded by Ukraine, South Africa, Argentina and Indonesia.

Future Perfect Continuous

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From Kenneth Beare,
Your Guide to English as 2nd Language.

Future Perfect Continuous

Listed underneath are uses with examples, and the structure of the future perfect continuous tense.

Something that will have been happening up to a future point in time

I drive have been working here because three years by the end of next month.
Jane will have been studying for five hours by the time you arrive.

Important Notes:

Use a future time clause (by the time + simple present) in combination with the future perfect continuous.

Use the future carry out interminable to express how long something will require been happening up to another point in time. If you need to express how much or how many have been completed, used, etc. use the future perfect form.

Common anon a punctually expressions used with the future perfect continuous:

about the time + time clause with the simple present, by + date or time

Structure

Positive

Subject + will + have + been + verb + ing

I, You, He, She, We, They wishes have been working for two hours by the interval she arrives.

Negative

Subject + will + not + have + + been + verb + ing

I, You, He, She, We, They won’t have been studying for crave aside the end of this stratum.

Questions

Question word (often ‘How long’) + had + been + theme + verb + ing

How long will he, she, you, we, they have been working by the time he arrives?

Free Thanksgiving Downloads

Thanksgiving is the one day that we set aside to celebrate all the things we normally take for granted, like our friends and family for example. It’s also a time to enjoy a great meal complete with Thanksgiving euphonious freebies!

Here is a selection of web sites to get you in the mood.

Free Thanksgiving music:
ILoveWavs.com - A selection of Thanksgiving songs in the .wav format (MP3 players, stall phones, computer and other compatible devices). FreeAudioClips.com - Most music here is in the .mid format (stall phones, computer and other compatible devices).

Free Thanksgiving apartment phone ringtones & wallpaper:
Myxertones.com - A great selection of free cell phone ringtones and wallpapers.

Free Thanksgiving e-cards:
123 Greetings.com - Lots of fooling around musical greeting cards that you can send to family and friends for free.

Free Thanksgiving screen savers:
Holiday-Screensavers.com - Two pages of free Thanksgiving shield savers to brighten up your PC desktop.

What is a Black Hole?

What is a black hole? When do black holes form? Can scientists see a black hole? What is the "event horizon" of a black aperture?A. A black hole is a theoretical entity predicted by the equations of general relativity. A embargo hole is formed when a star of sufficient mass undergoes gravitational collapse, with most or all of its mass compressed into a sufficiently small area of space, causing infinite spacetime curvature at that point (a "singularity"). Such a massive spacetime curvature allows nothing, not even light, to escape from the "event horizon," or border.

Black holes have never been directly observed, though predictions of their effects bear matched observations. There exist a handful of alternate theories, such as Magnetospheric Eternally Collapsing Objects (MECOs), to explain these observations, most of which avoid the spacetime singularity at the center of the black hole, but the vast majority of physicists believe that the wrathful hole account is the most likely physical representation of what is taking place. Black Holes Before Relativity In the 1700s, there were some who proposed that a supermassive object might draw set into it. Newtonian optics was a corpuscular theory of light, treating light as particles.

John Michell published a autograph in 1784 predicting that an object with a radius 500 times that of the sun (but the selfsame density) would have an shoot through velocity of the speed of light at its surface, and thus be invisible. Interest in the theory died in the 1900s, nonetheless, as the wave theory of light took prominence.

When scarcely ever referenced in modern physics, these theoretical entities are referred to as "dark stars" to distinguish them from true black holes. Black Holes from Relativity Within months of Einstein’s publication of general relativity in 1916, the physicist Karl Schwartzchild produced a solution to Einstein’s equation throughout a spherical mass (called the ) … with unexpected results.

The term expressing the radius had a disturbing feature. It seemed that concerning a certain radius, the denominator of the term would become zero, which would cause the term to "blow up" mathematically. This radius, known as the , , is defined as: = 2/2 is the gravitational constant, is the mass, and is the speed of light.

Since Schwartzchild’s work proved crucial to understanding black holes, it is an anomalous coincidence that the name Schwartzchild translates to "ebon shield." Black Hole Properties An object whose entire mass lies within is considered to be a funereal hole. is the name given to , because from that radius the escape velocity from the black perforate’s gravity is the speed of light. Black holes draw mass in as a consequence gravitational forces, but none of that almost all can ever escape.

A black hole is often explained in terms of an goal or concretion "falling into" it. Y Watches X Fall Into a Black Hole Y observes idealized clocks on X slowing down, freezing in continually when X hits Y observes light from X redshift, reaching infinity at (event X becomes invisible - yet by hook we can still see their clocks. Isn’t debatable physics grand?) X perceives noticeable change, in theory, though formerly it crosses it is impossible for it to ever escape from the gravity of the black hole. (Even light cannot escape the event horizon.) Development of Black Hole Theory In the 1920s, physicists Subrahmanyan Chandrasekhar deduced that any star more massive than 1.44 solar masses (the ) must collapse under general relativity. Physicist Arthur Eddington believed some property would prevent the collapse. Both were truthful, in their own MO = ‘modus operandi’.

Robert Oppenheimer predicted in 1939 that a supermassive dignitary could collapse, as a consequence forming a "frozen star" in nature, rather than just in mathematics. The collapse would seem to slow down, actually freezing in time at the point it crosses . The light from the star would experience a heavy redshift at .

Unfortunately, many physicists considered this to only be a feature of the highly mirror-like nature of the Schwartzchild metric, believing that in nature such a collapse would not actually take place expected to asymmetries.

It wasn’t until 1967 - nearly 50 years after the discovery of - that physicists Stephen Hawking and Roger Penrose showed that not exclusively were black holes a direct result of general relativity, but also that there was no way of halting such a swoon. The exploration of pulsars supported this theory and, shortly thereafter, physicist John Wheeler coined the term "black hole" for the phenomenon in a December 29, 1967 lecture.

Subsequent work has included the discovery of , in which black holes can emit radiation. Black Hole Speculation Black holes are a field that draws theorists and experimenters who want a challenge. Today there is almost universal agreement that black holes exist, though their exact nature is still in issue. Some believe that the stuff that falls into black holes may reappear somewhere else in the universe, as in the at all events of a wormhole.

One consequential addition to the theory of black holes is that of Hawking radiation, developed by British physicist Stephen Hawking in 1974.FAQ Index

Iron Maiden

Early Days:

Iron Maiden was formed by bassist Steve Harris in 1976. They released their to begin album in 1980. The pack’s first two albums did reasonably well, but with the 1982 replacement of vocalist Paul Di’Anno with Bruce Dickinson, their success skyrocketed. 1982’s is a classic heavy metal record. Maiden were at the forefront of the New Wave Of British Heavy Metal(NWOBHM).On A Roll:

Throughout the ’80s and initial ’90s Iron Maiden released a string of highly successful albums. In 1990 they even had a number everyone single in the UK, "Bring Your Daughter To The Slaughter."Lineup Changes:

After 1992’s debuted at number solitary the UK album chart, vocalist Bruce Dickinson left the ensemble and was replaced by Blaze Bayley. Two studio albums recorded with Bayley were commercial and critical disappointments.Reunion:

In 1999, Dickinson and guitarist Adrian Smith, who had also departed the group in the early ’90s, rejoined Iron Maiden. They continue to tour and record new material.Current Iron Maiden Members:

Bruce Dickinson - Vocals (Samson, Shots, Skunkworks, Speed)
Dave Murray - Guitar (Evil Ways, Psycho Motel, Urchin)
Janick Gers - Guitar (Di’Anno, Fish, Gillan, Gogmagog, White Spirit)
Adrian Smith - Guitar (A.S.A.P., Broadway Brats, Evil Ways, Psycho Motel, Skunkworks, Untouchables, Urchin)
Steve Harris - Bass (Gypsy’s Kiss, Smiler)
Michael "Nicko" McBrain - Drums (The 18th Fairfield Walk, The Blossom Toes, McKitty, Streetwalkers, Trauma, Pat Travers, Trust)
Former Members:

Paul Mario Day - Vocals (1975-1976)
Dennis Wilcock - Vocals (1976-1977)
Paul Di’Anno - Vocals (1977-1981)
Blaze Bayley - Vocals (1993-1999)
Terry Rance - Guitar (1975-1976)
Paul Sullivan - Guitar (1975-1976)
Ron "Rebel" Matthews - Drums (1975-1976)
Bob D’Angelo - Guitar (1976)
Terry Wapram - Guitar (1976)
Tony Moore - Keyboards (1976)
Barry "Thunderstick" Purkis - Drums (1976)
Doug Sampson - Drums (1977-1980)
Tony Parsons - Guitar (1979)
Clive Burr - Drums (1980-1982)
Dennis Stratton - Guitar (1980)
Iron Maiden Discography:

1981 (EMI)
1981 (EMI)
1981 (EMI)
1982 (EMI)
1983 (EMI)
1984 (EMI)
1985 (EMI)
1986 (EMI)
1988 (EMI)
1990 (EMI)
1992 (EMI)
1993 (EMI)
1993 (EMI)
1995 (EMI)
1998 (EMI)
1998 (Raw Power)
2000 (EMI)
2003 (EMI)
2005 (Sanctuary)
2006 (Sanctuary)

Essential Iron Maiden Album:
The addition of vocalist Bruce Dickinson for their third studio album in 1982 put them over the top. His powerful voice and charisma were undeniably what Iron Maiden needed. This is a great album from start to finish and a heavy metal classic.

The Top Ten Oldies of 1969

From Robert Fontenot,
Your Guide to Oldies Music.

This list was compiled by me, your Oldies Guide at About.com, from various sources — design positions, sales figures from time of release to the present day, critical standing, and historical importance. Only 45 rpm singles that peaked on the pop Top 40 in 1969 are eligible; artists are only allowed one participant per year in order to give a more balanced view of the cultural landscape. (Click on “compare prices” to find the prevarication on CD, hear a clip of the song, and buy it if you like!)

1. Creedence Clearwater Revival, “Bad Moon Rising”

Written as a reaction to Nixon’s election, this CCR classic — heavily influenced by the Buck Owens “Bakerfield Sound” — is both vague and immediate enough to outlast its epoch, a feat even “Fortunate Son” couldn’t quite pull at leisure. When there’s in shtook on the way, this obdurately bouncy and relentlessly catchy number can somehow evoke the moment, whatever it is. Two minutes so perfect they feel like a lifetime.2. Sly and the Family Stone, “Hot Fun In The Summertime”

Sly and his “children” had conquered the pop charts a year earlier with their mixture of stupefy, soul, and funk, but this lovely ballad was something else entirely… a hazy, shimmery paean to the joys of summer, and the cylical nature of the seasons’ little death/palingenesis dance as opulently. And yet, it still managed to break it down funky, a stoned soul picnic eons more ethereal than the song of the same name. Pure bliss on wax.3. The Rolling Stones, “Honky Tonk Women” b/w “You Can’t Always Get What You Want”

From the opening lone cowbell to the flip’s impossibly beatific conclusion, this single proved that under those wicked street-punk hearts lay some wickedly fine storytellers. The first side is a seedy painting of backdoor Americana, while the second is a generational epic that rogueishly uses a marvellous choir to support that there are no real answers. Both songs, if you listen carefully, ruin surpass up saying the same thing. 4. The Beatles, “Something” b/w “Come Together”

No one realized it at the time, but the Beatles were busy saying goodbye, and this single described a normal — yet still thrilling — dichotomy of doubt and assurance. John’s dark Chuck Berry esteem, a muddy and ominous bit of wordplay, managed to create harmony where there was none, while George’s coming-of-age a-side, a breathy sigh unparalleled in pop, wrestled with doubt discovered inside a transforming joy.5. Elvis Presley, “Suspicious Minds”

The King’s reascendance to the throne was complete with this, an accomplishment far more nuanced, adult, and deep than anyone would have expected then. Which proves how much he gets taken for granted: Elvis reaches penniless and plots out the place where fear and hope meet so effortlessly it makes you morose for those nearly-wasted Sixties years. And the largely wasted years to come.6. Diana Ross and the Supremes, “Someday We’ll Be Together”

A Supremes record in name only, this was intended to be Diana Ross’ solo debut. But it’s fitting that the group’s glory years ended this way, and not because this single nails amicable breakups so admirably, or that society was saying goodbyes to things held honey. What it mainly proved (as a near-duet with Motown producer/songwriter Johnny Bristol) was that, under the diva, Miss Ross had verifiable sincerity all along.7. Simon and Garfunkel, “The Boxer”

Worked over for months by the duo and producer Roy Halee, this was the group’s grand statement, variously said to be a sideswipe at Bob Dylan, a documentary about Jack Dempsey, or a frustrated Simon himself lashing out at the record industry. Whatever, the song’s theme of wounded defiance came through, topped off by a profound “lie-la-lie” chorus and apocalyptic crashes from a drum in an elevator shaft.8. The Temptations, “I Can’t Get Next to You”

“Hold it! Hold it! Listen,” instructs Dennis Edwards, and who could indict him for demanding prominence, especially when these five — plus fabricator Norman Whitfield, who’d just taken the classify under his wing — were at their peak? This early example of “psychedelic soul” is shorter, grittier, and grounded in more routine themes than his later works with the group. But that just gives it more bluff power.9. Neil Diamond, “Sweet Caroline”

Any song so popular at sports events and weddings must have some sort of universal treatise we can all groove on. Or maybe it’s just catchy. Either style, this smash marked the point at which Neil stopped being a Brill Building resident who pseudo at folkiedom and started to become a true American poet — not political or deep, just a surveyor of the motional landscape armed with a century’s worth of pop moves.10. Steam, “Na Na Hey Hey Kiss Him Goodbye”

This song was created specifically to languish on a b-side, because the songwriters and session pros who made up Steam were tired of seeing their a-side compositions passed over benefit of the flip. In pop’s weirdest own O. Henry twist, it of undoubtedly became an evergreen paste. But it really does have understandable appeal… an epic, rhythmic slice of blue-eyed soul hiding behind a bubblegum pedigree.What do you think?Got a kerfuffle b evasion that you think should be on this list? Want to talk about the songs that did pay for it? Just make a post in our forum!

Hats Off

Guide Rating - The Bottom LineWere it not for Mimi Weddell, there would be no –and hats off to director Jyll Johnstone for profiling Mimi on film.

You’ve seen Mimi as upper crusty ladies in Louis Vuiton ads, in TV sitcoms and horror flicks. In addition to whatever else the role requires, Mimi brings an air of refinement to her work. And she usually wears one of her hats–she has an odd collection of them–to convince casting directors she’s the set to rights gal for the part. Mimi tap dances, does somersaults, totes props almost her equal in weight. She’s indefatigable and undefeatable. She last will and testament inspire and enchant you, I guarantee.ProsMimi Weddell is inspiring.Mimi Weddell is delightful, decided and living her dream. Mimi Weddell is beautiful, talented and no nonsense. Mimi Weddell is eccentric and fascinatingMimi Weddell is always worth watching. ConsThe film leaves you insufficient for more Mimi–but that’s not necessarily a ‘con.’DescriptionThe layer chronicles ten years of Mimi’s life from era 80 to 90, but she doesn’t lose her panache or seem to age at all.Mimi’s mantra, "Rise Above It," is posted all upward of her apartment as her constant reminder to herself to focus forward.It’s very entertaining to see Mimi slip into character while she’s auditioning or modeling a hat for Jyll Johnstone.Mimi created her own plan and is determined to stalk it to the end. Sometimes she doesn’t feel like getting up, but does.Johnstone has known Mimi for years. Friendship uniquely qualifies her to tell Mimi’s story–that, and sincere admiration.This film should be seen by anyone who thinks of elder citizens as second citizens–Mimi proves they’re first rate.Guide Review - Hats Off (2008) - Movie ReviewIf you’re lucky, you have a dwarf Mimi Weddell in you–and Jyll Johnstone’s engaging documentary will help you to find it.

Mimi, at age 93, is free-spirited, self-reliant and forward-thinking. She works constantly–outdistancing much younger actresses at auditions, standing in line at ‘cattle calls’ and charming casting directors who say that she’s singularly stalwart in her persistence and daring in her willingness to try anything. They love her. And so will you.

Mimi, a Mayflower descendant and proud of it, tells her story with Kate Hepburn-like aplomb. She played her role as wife to music persistence exec Dick Weddell perfectly until he lost his job and his will to live and their lifestyle. Mimi took secretarial jobs to keep the kith and kin afloat. But when her husband died, she stepped away from the typewriter and onto the stage, following her dream to become an actress. In experience, she landed her first eminent role–the lead in the cult film in an audition she did while en route to her husband’s memorial. At the on one-liner occasion, she was 65.

Mimi isn’t a child who’s dragged down by the past, but she does remember and share the details of her life quite candidly. Jyll Johnstone uses old photographs and home movies to create the broader picture of Mimi’s life. She interviews Mimi’s three children, two of whom life with their mother in her apartment on New York’s East Side.

It’s clear that Mimi would prefer to live alone, and it’s fascinating to see her create a peaceful space around herself–even when one grandchild is tickle-torturing her with a feather. The family potent is fascinating.

Mimi has high standards for herself: she costumes herself impeccably, regularly has her thinning hair coifed at Elizabeth Arden.

At majority 90, she was named anyone of New York Magazine’s "50 Most Beautiful People in New York." She’s a lady. In , she’s iconic.

FBI cites escalating mortgage fraud problem (Reuters)

The FBI said it received 46,717 "suspicious activity reports" from financial institutions related to mortgage fraud last year, compared with 35,617 in economic 2006 and no more than 6,936 in pecuniary 2003. The government's fiscal year begins on October 1.

The total dollar loss attributed to mortgage fraud is unknown. But 7 percent of the doubtful activity reports filed in 2007 indicated a specific dollar loss exceeding $813 million, the FBI said.

"The $813 million loss denoted in this report is just the tip of the iceberg, reflecting only a small percentage of financial expense suffered aside victims of mortgage fraud," said Assistant FBI Director Kenneth Kaiser, who is in charge of the criminal investigative division.

"The FBI remains committed to working with our law enforcement, regulatory, and industry partners to unravel these complicated fraud schemes and bring their perpetrators to justice," he said in a statement released with the report that details mortgage fraud in 2007.

The report did not name any definitive companies and summarized mortgage fraud data from government agencies, private analysts, Fannie Mae and other sources.

FBI Director Robert Mueller said last month that the bureau's investigation of potential fraud in the U.S. home mortgage industry now involves 19 companies.

He did not identify any of the companies targeted in the FBI's investigation, but said the law enforcement intercession was focusing on accounting swindling, insider trading and specious sales practices.

In the report for 2007, the FBI said the subprime share of receivable loans has more than doubled since 2003, putting a greater share of loans at higher risk of failure.

The high-interest, high-risk loans, which were designed for people with in reduced circumstances or limited credit histories, contributed to the 2.2 million foreclosures filed during 2007, up 75 percent from 2006, the report said.

It said mortgage fraud appeared to be most concentrated in the north-central tract of the United States.

The top 10 mortgage fraud states for 2007 were Florida, Georgia, Michigan, California, Illinois, Ohio, Texas, New York, Colorado, and Minnesota.

Other states significantly affected by mortgage fraud included Arizona, Maryland, Utah, Nevada, Missouri, Indiana, Tennessee, Virginia, New Jersey, and Connecticut.

The suss out cited a number of the latest mortgage fraud schemes.

They include "builder-bailout" schemes, in which developers unload excess inventory through financial trickery, foreclosure deliverance frauds that trick homeowners into signing over the deed to their house, seller-assistance scams that use false appraisals to sell homes and identity theft that leads to home impartiality credit lines being opened and drained.

The report is available on the FBI's website at http://www.fbi.gov/publications/fraud/mortgage_fraud07.htm

(Editing at near Dan Grebler)

Inflation pressures ease despite food price jump (AP)

The Labor Department reported Wednesday that consumer prices edged up 0.2 percent last month, to a certain turn down than expected and better than the 0.3 percent advance in March.

The lower inflation reflected a flat reading notwithstanding energy, which helped offset a 0.9 percent jump in edibles. That was the biggest one-month surge since a 1.5 percent multiplication in January 1990.

Last month’s increase was driven by widespread increases in a number of areas from bread, butter and margarine to milk and coffee. Food prices have been climbing at once over the matrix year, reflecting higher world demand and the impact of increasing energy prices on the cost of fertilizer and transportation of products to grocery store shelves.

For April, energy prices were unchanged and gasoline prices even fell by 2 percent, a decline that would strike motorists as funny, given that they have been watching the price of gasoline rise relentlessly in recent weeks.

However, since gasoline prices normally bring about in April, the 5.6 percent increase in gasoline prices for the month was turned into a 2 percent drop after the government adjusted for normal seasonal variations — little comfort to people now paying pump prices that smash hit a new national record of $3.758 per gallon on Thursday, up nearly 40 cents in the past month.

Outside of the volatile food and energy sectors, so-called core inflation showed a modest 0.1 percent rise in April, down from 0.2 percent in March, a performance that economists said should continue as the weakening economy and rising layoffs help keep the lid on price increases.

“The recent slowdown in the United States is definitely helping to curb inflation,” said Rebecca Braeu, an economist at John Hancock Financial in Boston.

But analysts said many families are continuing to be squeezed.

“We are paying more to fill up our tank and buy a idle of bread and a gallon of milk,” said Mark Zandi, chief economist at Moody’s Economy.com. “It’s going to be tough to go to the grocery store this summer or drive to the beach.”

Zandi said gasoline prices will also like as not augment by a significant amount in May as pump prices reflect the recent run-up in unprocessed oil prices, which remained above $124 per barrel on Wednesday.

The grocery industry urged Congress to revise current requirements designed to divert corn production to be used to certify ethanol, which they blamed for pushing food prices higher.

“It’s clear that American families are facing unbearable pressure, pressure that Congress can help relieve by revisiting and revising the mandated diversion of corn to ethanol performance,” said Scott Faber, corruption president in search federal affairs for the Grocery Manufacturers Association.

The Fed, fighting against a severe credit crunch and spreading mercantile weakness, has cut interest rates seven times since last September to keep the country from toppling into a recession. However, last month it signaled it might take a hesitation in the rate cuts, with some Fed officials expressing worries that furthermore reductions in interest rates could trigger unwanted inflation. The central bank is expected to keep rates unchanged when officials next take care of June 24-25.

So far this year, overall inflation is rising at an annual grade of 3 percent, down from a 4.1 percent increase for all of 2007. Core inflation, excluding energy and food, is up at an annual rate of 1.8 percent in the first four months of this year, compared with a 2.4 percent increase for all of 2007.

But workers’ wages are not keeping up. A separate Labor Department report showed average weekly earnings for nonsupervisory workers dropped by way of 1 percent in April compared with a year ago, after adjusting for inflation. It was the seventh staid month that inflation-adjusted wages were down compared with a year ago.

While many economists believe the country is in a recession, others say the country may be able to avoid a full-blown downturn, especially if consumers spend a sizable portion of the 130 million economic stimulus payments the government is now sending out.

Clothing prices rose sooner than 0.5 percent in April, even though discount stores reportedly engaged in heavy discounting in an effort to spur lagging sales, but airline ticket prices dropped by 0.5 percent and new car prices fell by 0.2 percent.

Pacifica Front 3/4