Korea ( South & North ) 01 (May 08 - Nov 10)

[winston]

SKorea's 3rd-quarter economic growth slows sharply


South Korea's economic growth slowed sharply in the third quarter amid weaker exports and manufacturing.

The Bank of Korea said Wednesday that the country's gross domestic product expanded 0.7 percent in the three months ended Sept. 30. That compares with the second quarter when the economy grew 1.4 percent.

The figures are preliminary and may be revised.

South Korea, Asia's fourth-largest economy, has rebounded strongly from the global downturn, boosted by low interest rates, government stimulus spending and robust exports. The economy has now expanded for seven-straight quarters.

The central bank said that growth in exports and manufacturing both slowed in the third quarter.

GDP grew 4.5 percent from the same period last year.

Source: AP News

[winston]

Looks like someone was "manipulating" the Korean market today.

Plunged a lot at the very last few minutes

Just checked and it's options expiration day.

[winston]

Looks like someone was "manipulating" the Korean market today. Plunged a lot at the very last few minutes. Just checked and it's options expiration day.

Plunged 2.7% yesterday, most of it during the last few minutes. Up 2% now.

If that's not manipulation, I dont know what is.

[winston]

Good. They are now investigating DB in Korea for the last minute selling yesterday.

[winston]

because of QE2, interest rates in Asia would be raised prematurely ...

SKorean central bank raises rate to 2.5 percent

South Korea raised its key interest rate Tuesday for the second time in four months as higher inflation forces Asian central banks to increase borrowing costs.

The Bank of Korea lifted the benchmark seven-day repurchase rate to 2.5 percent from 2.25 percent at a monthly monetary policy meeting after inflation hit 4.1 percent in October.

The bank also removed the wording "under the accommodative policy stance" from its statement, suggesting that interest rates will continue to rise to more normal levels after two years of super-low borrowing costs.

Asian countries are under increased pressure to contain inflation after their economies rebounded strongly from the global recession and as food prices surge.

The Bank of Korea's rate hike and jitters that China will take new steps to cool its economy, the world's second-largest, sent stock markets lower across Asia and Europe. China's Shanghai Composite Index tumbled 4 percent.

South Korea's year-on-year increase in consumer prices was slightly outside the central bank's comfort zone for inflation. The bank's inflation target is 3 percent, though that includes what it calls a "tolerance range" of plus or minus 1 percentage point.

The increase in inflation was mainly driven by higher prices for farm produce, the central bank's policy committee said in the statement.

"Upward pressures are expected to continue" in line with strength in the domestic economy and increased international raw material costs despite some respite expected from stabilizing vegetable prices, said the committee, which is chaired by BOK Gov. Kim Choong-soo.

The Bank of Korea slashed its interest rate a total of 3.25 percentage points to a record low 2 percent between October 2008 and February 2009, joining other central banks in combatting the effects of the global financial crisis and economic downturn that followed. It raised the borrowing cost to 2.25 percent in July amid solid growth prospects for the domestic economy and budding inflation worries.

Tuesday's decision was widely expected. A total of 11 economists at 13 financial institutions surveyed by Yonhap Infomax, the financial news arm of Yonhap news agency, predicted the bank would increase the rate to 2.5 percent.

The bank cited the possibility of increased economic volatility and exchange rate movements in "major countries" as international risk factors, though was largely upbeat on the outlook for South Korea.

South Korea's economic expansion has moderated recently. Growth in the three months ended Sept. 30 slowed to 0.7 percent from 1.4 percent in the previous three months. It was the second straight quarter of slower growth in Asia's fourth-largest economy.

"The domestic economy is expected to continue on an underlying upward track, even in the presence of external risk," the statement said.

Kwon Goohoon, economist at Goldman Sachs in Seoul, said the different wording in the central bank's statement was an "important change" that signals more rate hikes are possible if outside risks diminish.

"Policy makers are keen to avoid the need for a sharp tightening when and if the global recovery takes hold and inflation pressure escalates," he wrote in a report. Another quarter point rate increase is expected in February, he said.

Hikes will likely total three quarters of a percentage point next year, he said, meaning the rate would reach 3.25 percent at the end of 2011.

__

Associated Press writer Chi-Chi Zhang in Beijing contributed to this report.

Source: AP News

[winston]

If these guys are not careful, the South + Japan will wipe them out ...

North Korean artillery fired dozens of shells onto a South Korean island near their disputed sea border, wounding several people, setting fire to buildings and prompting a return of fire by the South, Seoul's military and media reported.

[profittaker]

LOS ANGELES (MarketWatch) -- North and South Korea both reportedly fired artillery shells Tuesday at an island near the two nations' western border. Reports from the region said the North launched dozens of rounds at the island, identified by the Associated Press as South Korea's Yeonpyeong island. Several reports cited unnamed South Korean officials as saying Southern forces then fired back. The exchange follows claims by North Korea that it has opened an advanced uranium-enrichment facility. The news sent the Korean won falling against the U.S. dollar in forward trade, with the greenback rising to 1,155 won compared to Tuesday's spot close of 1,137 won, according to Dow Jones Newswires.

Island in question is near the Norther Limit Line off the west coast between SK and NK called Yun-Pyung-Do. Reports NK attacked this island in retaliation for SK conducting military exercises near the area. So far, causalities being reported including 4 SK marines. SK navy returning fire as a result of the attack and reports of SK Air Force launching fighters to the area.

Attack comes after reports NK has started operations on a 2nd nuclear facility to enrich uranium for its nuclear weapons prgm + US envoy Stephen Bosworth saying no 6 party talks should NK resume nuc weapons prgm + US Forces reviewing redeployment of strategic nuclear missiles back to Korea.

fire.jpg

[winston]

*DJ North Korea Artillery Fire Kills 1 South Korean Marine - KBS Television

[winston]

Remote Viewers' Predictions for 2010-11
Source: BeforeItsNews.com

[Originally posted June 28, 2010]

Team PsiZeta -- the Remote viewing super-team and future seeing group -- has released their 2010-11 forecast. The list of famous and controversial names involved in the project includes the likes of Ingo Swan, Yuri Geller, Ed Dames, David Morehouse, and the Global Consciousness Project.

Probability 90%
World events and conflict: China Crisis

According to the team 2011 would be the year of the China crisis. It starts off with the exchange of fire on the Korean DMZ and ends with South Korea making a big land grab from the North.

Two nuclear devices will be used, one under the ground and the other under the ocean, both by North Korea as a defensive tactic. The massive rocket and artillery batteries of the North will be quickly destroyed by US and Korean air power and 400,000 South Korean soldiers will advance 60km into North Korean Territory.

In a desperate attempt to widen the conflict North Korean will launch its most effective missiles against Japan. Thousands of Civilians will die.

China vehemently protest against the South Korean advance but does not become involved until Japan launches a truly astonishing air operation against North Korean missile sites.

The Japanese Air force meets Chinese fighters on the Russian/DPRK border and destroys all of the Chinese Aircraft then proceeds to take out most of the long range missile sites in North Korea. The US will be caught off guard by the Japanese attack because it was not part of the plan as the US was still moving more air assets into the area.

More surprising will be the material support given Japan by Russia, and the use of Russian air space by Japanese aircraft. The US quickly launches hundreds of cruise missiles hoping to take out any WMD sites than Japan had failed to eliminate, unfortunately the US strikes kill thousands of human shield civilians surrounding the North Korean targets.

Over a period of a few weeks the US and China rattle sabers but do not exchange fire. China pours a huge amount of resources into North Korea, primarily military equipment to shore up the crumbling regime.

China’s duplicity enrages much of the free world and there is a massive anti China backlash. The US severs all economic ties with China. China demands immediate payment of all US debt it holds. A huge Political scandal shapes up as a secret US(military/Federal Reserve) doomsday fund is brought to light. China is paid out the amount of 700 Billion USD.

3 US ships will best lost in the short conflict, including 1 carrier but the majority of the crew and aircraft would escape.

The Korean conflicts ends in another stalemate. 1,600,000 North Korean civilians will escape to the South.

http://www.mindpowernews.com/Predictions2010.htm

Time to revisit what the Remote Viewers saw. It has a 90% probability

[Aspellian]

wow incredible prediction!! if it really is 90% probability, I am one of the first to read WInston's post here.... a story for my grandchildren!