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San
José, Costa Rica, Wednesday, Oct. 28, 2015, Vol. 16, No. 213
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 Ministerio de Seguridad
Pública
photo
This is a home that was raided in la
Rivera de Belén in Heredia
Crack ring leader said to be prison inmate By the A.M. Costa Rica staff
Police raids Tuesday in Los Guido de Desamparados led to the arrest of persons suspected of being major crack cocaine distributors and the closing of points of sale in the Central Valley. The leader of the organization was identified as a man who now is in prison for drug trafficking, said the Policía de Control de Drogas. The man is accused of running the operation with the aid of his female companion and the second person in charge. Police said that the raids Tuesday also resulted in breaking up two other drug rings. One was in Desamparados and the other was in Paso Ancho, they said. Police provided a list of some 21 persons who had been detained since the first of the year. They said that these arrests led to the sweeping series of raids Tuesday. In addition to 10 raids in Desamparados raids were in Santo Domingo, la Rivera de Belén in Heredia, Tres Ríos de Cartago and in Coyol de Alajuela, according to the anti-drug police. Proposed law mandates affirmative action By the A.M. Costa Rica staff
A new bill would require public companies to adopt an affirmative action plan to benefit women and also have at least two independent members on its board of directors. The measure, No. 19688, involves those large companies that are subject to supervision by the Superintendencia General de Valores. The bill also would require that the board of directors contains at least two independent members. The sponsor, Maureen Clarke Clarke of the Partido Liberación Nacional, described the bill in a meeting Tuesday with the business chamber, the Unión Costarricense de Cámaras y Asociaciones del Sector Empresarial Privado. The objective of the bill is to use the corporate code to promote aspects that guarantee the participation of women in the private sector and in the internal decision-making process, said Legislator Clarke in a release. The bill cites a handful of local laws and an international agreement that promotes the cause of women. Intense rains batter much of country By the A.M. Costa Rica staff
Heavy rains lashed the country Tuesday afternoon. Low areas were flooded, and more than 110 vehicle accidents took place in the Central Valley. The Cruz Roja and the Cuerpo de Bomberos were called out in San José to rescue individuals caught in the deluge. The Instituto Meteorological Nacional said that up to 10 centimeters or about 4 inches of rain fell in some places in three to six hours. In San José, the amount was estimated at 7.5 centimeter or about three inches. One death was reported in Naranjo of a woman caught in a flooded structure. Another death was in the southern part of the country. Rescue workers assisted an elderly woman in Barrio Lujan, San José, who said she had to escape her flooding home by smashing out a window and crawling to a neighbor's roof. Others were caught when drivers tried to brave the rising waters. The areas most affected were in Barrio Lujan, San José, near the Dos Pinos facility, the southern part of Los Yoses, Calle Blancos and parts of San Pedro. A number of vehicles were flooded in a Dos Pinos parking lot. As expected the rain began to diminish in the Central Valley at mid-evening. The weather institute also said that heavy rains hit the Pacific coast, the mountains of the Caribbean and the northern zone. In San José those who were affected blamed blocked storm sewers, but some rivers ran outside their banks, too. The weather institute predicts that the dry season will arrive in the Central Valley within a week. Even adults are seeking scary dress By the A.M. Costa Rica wire services
The annual ghoulish celebration of Halloween happens this Saturday. In the United States, children have fun dressing up in scary and funny costumes and trick or treat to get candy. Costumes used to be simple and often home-made, like a sheet for a ghost or a hat and a broom for a witch, but today, they are a huge industry with lots of choices. There are scary masks, mustaches, funny hats and costumes galore at Total Fright, one of the biggest Halloween stores in the Washington, D.C., area. “I’m going to knock on the door, and then hide, and I’m going to scare them, then they’ll drop their candy and I can get it,” said Robinson Andino, a 9-year-old trick or treater. But Halloween isn’t just for kids anymore, said Lorenzo Caltagirone, the owner of Total Fright. “Adults get together and families get together,” he said. The biggest trend this year are nostalgia costumes, superheroes from decades-old comic books and TV and movies, like Batman. “A lot of costumes are coming from movies or inspired by movies,” noted Caltagirone. Star Wars costumes are a favorite especially since a new chapter in the series is coming out in December. “Star Wars has always been popular over the decades, and one of the number one villain to dress up for Halloween is Darth Vader,” Caltagirone added. And during this political season in the U.S., it's not surprising that Hillary Clinton and Donald Trump masks are in demand. “Clinton is one of our top sellers right now and Donald Trump, we already sold out of Donald Trump masks. Also what’s very popular is the Obama presidential mask. We also have a pumpkin Obama,” said Caltagirone. French college student Raed Bokhari is going to be a zombie for his first Halloween in the U.S.. “People are scared of them even though they aren’t real. The thing that makes them scary is that they have a thirst for blood than any creature that has ever been in the movies,” said Bokhari. And it’s not just boys who want to look frightening. “We see a growing trend that even young girls wanting to be scary,” said Caltagirone. |
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| What we published this week: | Monday | Tuesday | Wednesday | Thursday | Friday | Earlier |
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reproduced anywhere without permission. Abstracts and fair use are permitted. Check HERE for details |
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A.M. Costa Rica Third News Page |
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| San José, Costa Rica, Wednesday, Oct. 28, 2015, Vol. 16, No. 213 | |
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Graphic shows a proposed train overpass with the Autopista General Cañas below. The highway is expected to be expanded to four lanes in each direction before any train project is completed. |
 Tecnológico
de Costa Rica rendering
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| Study outlines ways of connecting airport to valley train
line |
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By the A.M. Costa Rica staff
A train stop at Juan Santamaría airport is a logical improvement, and students at Tecnológico de Costa Rica and a French university have outlined how this can be accomplished. The feasibility study designates three locations where the airport line would intersect with the existing or planned valley line. One is in Río Segundo, one is near Walmart near the airport and the third is near Hospital San Rafael in Alajuela. The line to Alajuela is under construction and repair. The study compares the costs and advantages of each possibility. The study was done with the approval of the Municipalidad de Alajuela , the airport concession holder Aeris, and the |
Instituto
Costarricense de
Ferrocarriles, which runs the trains. The French university is
Universidad Sciences Po Rennes. French students Louis Gendrau and Pierre Audeguil were given credit for developing the study under the supervision of Tecnológico university professors Carlos Ugalde and Tomás Martínez. The study suggests that a train connection would reduce the estimated 9,000 vehicles an hour that travel the General Cañas highway at peak times. Juan Santamaría handles 83 percent of the nation's air traffic each year. That is about 3.4 million based on 2014 figures, said the study. The plan suggests that the line might be in service by 2030. Opposition is sure to come from taxi drivers who charge $20 for the airport-San José run. |
| Three more gunned down in crimes that do not seem to be
robberies |
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By the A.M. Costa Rica staff
Three persons died Monday night and early Tuesday in crimes that appear to have motives other than robbery. In one case, the victim and a companion were taken for the legendary ride. That was in Desamparados and involved a man agents identified by the last name of Muñoz and a companion, identified by the last name of Fuentes. That was about 8:45 p.m. when the pair were ordered by gunmen to enter a car that headed to San Antonio de Desamparados. When the car reached a bridge between San Antonio and Dos Cercas, the men made a bid to escape, said the Judicial Investigating Organization. Muñoz, who was 25, suffered six bullet wounds and died at the scene. His companion, 22, suffered a bullet wound to the arm. |
In
Concepción Abajo de Alajuelita about 11:45 p.m. a 22-year-old
man with the last name of Céspedes was approached by a man
on a
motorcycle who shot him five times said the Judicial Investigating
Organization. Then about midnight, a taxi driver in Puerto Viejo de Sarapiquí picked up a fare and was discovered dead in his vehicle three hours later. He was identified by the last name of Reyes and was 54, said agents. They dismissed the motive for the crime as robbery because the victim's possessions were not taken. One victim got away with his life. About 7 p.m. in San Josecito de Alajuelita a 63-year-old man identified by the last name of Irias, was in his vehicle when a motorcylist approached. The victim received one bullet wound in the cheek but survived, said agents. |
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be
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| A.M. Costa Rica's Fourth News page | |||||
| San José, Costa Rica, Wednesday, Oct. 28, 2015, Vol. 16, No. 213 | |||||
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| This may seem wacky, but reef fish in trouble try to draw
more predators |
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By the ARC Centre of Excellence in Coral
Reef Studies news staff
Researchers at James Cook University have found that fish release a chemical distress call when caught by predators, dramatically boosting their chances of survival. Fish harbor a chemical substance in their skin that's released upon injury. It triggers fearful and escape behavior in nearby fish, but until now scientists hadn't identified the benefits to the sender. "For decades scientists have debated the evolutionary origin of chemical alarm cues in fish," says study lead author, Oona Lönnstedt, now a research fellow at the University of Uppsala. The researchers have now found the answer, discovering that the chemical cue attracts additional predators to the capture site. "Chemical alarm cues in fish seem to function in a similar way to the distress calls emitted by many birds and mammals following capture," says study co-author Mark McCormick. "When damselfish release their chemical alarm on a coral reef, lots of additional predators are attracted to the cue release area," says McCormick of the ARC Centre of Excellence in Coral Reef Studies. "More predators would seem to mean more trouble, but we discovered that additional predators interfere with the initial predation event, allowing the prey a greater chance to escape." The research team found the new predators would attempt to steal the prey, and in the ensuing commotion the captured damselfish had a greater chance to break free and hide. "When caught by a predator, small damselfish have almost |
 ARC Centre of Excellence in Coral Reef
Studies/Oona Lönnstedt
Damsel fish in their coral
habitat.no chance of escaping their fate as the predator's next meal. However, when another fish predator is attracted to the capture site, prey will escape about 40 percent of the time," says McCormick. Dr. Lönnstedt says this proves that chemical alarm cues benefit the sender by giving it a much greater chance of not ending up as dinner. "These findings are the first to demonstrate an evolutionary mechanism by which fish may benefit from the production and release of chemical alarm cues, and highlight the complex and important role chemical cues play in predator-prey interactions on coral reefs." Dr. Lönnstedt said. "It all goes to show that coral reef fish have evolved quite a range of clever strategies for survival which are deployed when a threatening situation demands," she added. |
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| What we published this week: | Monday | Tuesday | Wednesday | Thursday | Friday | Earlier |
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Colorado
S.A. 2015 and may not be reproduced anywhere without permission. Abstracts and fair use are permitted. Check HERE for details |
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A.M. Costa Rica's Fifth news page |
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| San José, Costa Rica, Wednesday, Oct. 28, 2015, Vol. 16, No. 213 | |||||||
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| Lawmakers voice concern over terrorist immigrants By the A.M. Costa Rica wire services
Some Republican lawmakers have expressed concern that terrorists posing as Syrian refugees could slip into the country. “With more and more refugees seeking to reach Europe from Syria and its neighbors, there will be of course those seeking to take advantage,” Chairwoman Ileana Ros-Lehtinen said Tuesday at a House Foreign Affairs subcommittee meeting where lawmakers heard from U.S. immigration and aid officials. “If we cannot guarantee the vetting of these refugees, it would be irresponsible for us to promote it,” the Florida Republican said. The immigration officials testified that the United States has the best possible security screening procedures in place to process the thousands of Syrian refugees waiting for resettlement. They told lawmakers that the first step in the resettlement process is determining refugee status based on a legal definition of a well-founded fear of persecution. Then agencies seek to resettle the most vulnerable of refugees, including widows, orphaned children and the sick. All refugees undergo security screening before they are allowed into the United States. Rep. Dana Rohrabacher, a California Republican, questioned how the United States classifies refugees as part of its screening. He expressed concern that many would-be immigrants appeared to be young men, “military-age men who, if they are against radical Islam, should be fighting radical Islam.” Anne Richard, assistant secretary of State for population, refugees and migration, told the subcommittee that about 2 percent of the Syrian refugees taken in by the United States last year were young men, many of whom had families and who “had terrible things done to them.” “I think the reason they’re coming is because they’ve lost hope of getting an education or earning a living,” Richard said. Leon Rodriguez, director of U.S. Citizenship and Immigration Services, said later that his agency compares the biographical information of refugees with various law enforcement and intelligence databases to check for terrorist and illegal activity. His officers train for eight days to gain knowledge of the situation on the ground in Syria that allows them to conduct security screening with refugees seeking resettlement in the United States, he said. “There’s a lot of work that’s done by the State Department and by us in gathering information about country conditions so that we understand in great depth what’s going on in those countries from a military standpoint, from a social standpoint,” Rodriguez said. International aid agencies have repeatedly pointed to resettlement as a leading solution to the migrant crisis and offered ways of easing the complicated and lengthy process. “Already, refugees receive more scrutiny than other visitors to the U.S., so there are ways of speeding up those kinds of background checks by doing the work on the ground in the first place to identify those who are most vulnerable and presumably would pose the least amount of risk to the country,” said David Fray, vice president of advocacy for CARE International. Earlier Tuesday, Antonio Guterres , U.N. high commissioner for refugees, downplayed security concerns, saying that if potential terrorists wanted to pose as refugees “to enter the United States, the more stupid thing would be to apply for resettlement.” Half of all Syrians have been killed or displaced from their homes because of the conflict that began in 2011. The U.S. has contributed $4.5 billion in direct aid and through U.N. appeals to help address the Syrian humanitarian crisis. The U.S. Agency for International Development estimates that aid reaches 5 million Syrians each month. Low-cost, forced tourism gets a close eye in China By the A.M. Costa Rica wire services
China’s tourism watchdog is mulling measures to tighten regulations for discount trips following the death of a Chinese tourist in Hong Kong. China's National Tourism Administration has already tried imposing penalties on travel agents who organize forced shopping tours, but that has done little to curb the practice. Critics say putting tourists themselves in the crosshairs is likely to be a tough policy to enforce. In an online statement Sunday, the tourist organization said it is studying relevant punishment measures for Chinese tourists who sign what it called fake contracts with travel agencies for bargain trips. The fake contracts appear to comply with government regulations for low priced trips, which ban forced buying, but in reality tourists know they are getting a huge discount with the understanding that when they reach their destination they will make big purchases. Tour guides then get a commission from the stores where the tourists shop. The regulator’s decision comes after 54-year-old mainland tourist Miao Chunqi was allegedly beaten up outside a jewelry store and died of a heart attack early last week in Hong Kong. Miao was trying to mediate an argument between two of his fellow tour members and their tour guides after they refused to shop. The 20-member tour group had been arranged by a Shenzhen-based travel agency. Each of the tourists on the tour reportedly paid 300 yuan ($47) for a three-day tour and shopping marathon in Hong Kong. “To some extent, crime has been committed in two areas. The first is that those people who sold discount trips below the cost, that is in China,” said Andrew Chan, an associate professor at the Hong Kong Polytechnic University's school of hotel and tourism management. “The other behavior that can be considered crime is that people are being coerced to shop. This is where the money come from, over 60 percent of those goods sold go to the tour operators,” he added. Tourism regulators in both Hong Kong and China have long had measures in place that prohibit dirt-cheap trips. Chinese authorities have been threatening to revoke licenses or impose fines of up to 300,000 Chinese yuan ($47,300) on travel agencies that lure tourists with unreasonably low fees that are below the cost and later force them to shop in designated stores. But so far, the practice remains rampant even though free trips are banned in China. The only area where authorities appear to be making some inroads is when tours are advertised online. In early March this year, two online travel agencies turiu.com and ly.com were ordered to cancel a promotional tour that cost participants only 1 Chinese yuan (16 U.S. cents). Lilien Lian, managing director of Grand China Air Travel said that even if authorities approve the new regulations that target tourists, they will be hard to enforce. It takes huge efforts and manpower to monitor such illegal practices and in places where there is no supervision, tour operators struggling with thin margins will still tend to take risks, she said. However, Lily Zeng of Jiangxi Normal University’s school of tourism argues that, in free markets, no discount trips should be banned and shopping arrangements should be allowed as long as a prior consent from tourists is clearly stated in the contract. “Some people pay for service with their time while others pay for service with their deep pockets,” Zeng said in an emailed reply. “Hence, it’s not fair to say discount trips are unreasonable.” Brennan outraged at hacker and also raps coverage By the A.M. Costa Rica wire services
CIA Director John Brennan said Tuesday he was outraged when
a hacker broke into his personal email account but added the attack
highlights how everyone's personal data is vulnerable on the Internet.Brennan told a conference on national security at George Washington University in Washington that he was outraged by the publication of sensitive data. “I was certainly outraged by it. . . . I certainly was concerned about what people might try to do with that information," he said at the conference, which was co-sponsored by the CIA. Brennan also faulted the media not only for its coverage of the incident, but also for suggesting impropriety or lax security on his part regarding the email account. "Because of some things that were put out, the implication of the reporting was that I was doing something wrong or inappropriate or in violation of my security responsibility, which was not certainly the case," Brennan told those at the conference. "Giving air to what is criminal activity and propagating information I think was inappropriate," he said about media coverage. WikiLeaks, the anti-secrecy Web site, began releasing documents from Brennan's private AOL account last week, days after a teenage hacker said he fooled telecommunications giant Verizon into providing him access to Brennan's account. The information included email contact addresses, some of which were out of date, his wife's pension identification number, and the Social Security numbers and personal information of U.S. intelligence officials. The case marked another instance of hacking involving the U.S. government or government officials, although it appeared to be of a much smaller and more primitive character than previous attacks, such as the massive breach of Office of Personnel Management computers in June. It appears Brennan stopped using the account in 2008 when he rejoined the government after a period in private life. Brennan said the incident should serve as an example for everyone of the growing vulnerabilities of the cyber world. “I think it does epitomize … what we have to deal with in this increasingly modern and interconnected world. It’s a reality of the 21st century,” the CIA chief said. Republican debate tonight comes as polling gap closes By the A.M. Costa Rica wire services
The top 10 Republican presidential contenders hold their third debate tonight in Boulder, Colorado. The debate will be broadcast by CNBC, and the focus is expected to be on the top four candidates in the Republican field according to the latest national polls: real estate mogul Donald Trump, retired neurosurgeon Ben Carson, Florida Sen. Marco Rubio and former Florida governor Jeb Bush. Four recent polls in Iowa show Carson surging into a lead over Trump. And for the first time, Carson has taken a narrow lead over Trump in a new national survey. The latest New York Times/CBS News poll shows Carson with 26 percent among Republican primary voters with Trump in second place with 22 percent. It's the first time that Trump is not in the lead since the Times/CBS poll began ranking the candidates in late July. The stakes seem especially critical for Bush who recently slashed campaign spending after slipping further behind in national polls and surveys in key early voting-states like Iowa, New Hampshire and South Carolina. Bush was busy this past weekend trying to reassure wealthy campaign donors at a Houston retreat. Wednesday’s prime-time debate will also feature former business executive Carly Fiorina, Texas Sen. Ted Cruz, former Arkansas governor Mike Huckabee, New Jersey Gov. Chris Christie, Ohio Gov. John Kasich and Kentucky Sen. Rand Paul. An earlier debate will also be held featuring four other contenders who did not make the top ten: Former Pennsylvania senator Rick Santorum, Louisiana Gov. Bobby Jindal, former New York governor George Pataki and South Carolina Sen. Lindsey Graham. Former Virginia governor Jim Gilmore did not qualify for the earlier debate because he is below one percent in the polls. The size of the Republican field is a major contrast with the Democratic race where only three contenders remain: former secretary of State Hillary Clinton, Vermont Sen. Bernie Sanders and former Maryland governor Martin O’Malley. Two Democrats dropped out last week: former Virginia senator Jim Webb and former Rhode Island governor Lincoln Chafee. Vice President Joe Biden also took himself out of the 2016 race, giving Mrs. Clinton a boost that has helped re-establish her as the clear Democratic frontrunner. Mrs. Clinton also helped herself with her strong appearance before the House Select Committee on Benghazi and a crisp debate performance the previous week. In the Republican race, Trump has stepped up his attacks on Carson in recent days, accusing him of having super low energy in an interview with CNN. Carson responded on Fox that he didn’t want to get in the mud pit with Trump, but that may be harder to avoid in Wednesday’s debate. Trump told MSNBC Tuesday that he is willing to spend whatever it takes to win. He also said Carson will get more attention now and "we'll see how he holds up to the scrutiny." Trump has not hesitated to go after rivals previously, targeting Bush, Rubio and Paul both in campaign speeches and in past debates. But there may be more of a risk for Trump attacking Carson, who is the best-liked of the Republican contenders, according to recent polls. A Bloomberg survey found 84 percent of Iowa Republicans viewed Carson favorably. But Trump did well in a new Associated Press-Gfk poll where seven in 10 Republicans surveyed said Trump was the party’s strongest general election candidate, compared to six in 10 for Carson. Sixty percent also said Bush could win the general election while 54 percent said the same about Rubio. Trump also got a boost recently when Politico reported that 81 percent of Republican insiders who they check with regularly believe that the odds of Trump winning the nomination have grown measurably over the last two months. Trump’s success continues to stir worry among members of the Republican establishment. Republican strategist Karl Rove, a key advisor to former President George W. Bush, wrote in the Wall Street Journal that Republicans may have to choose between a nominee who has a conservative agenda or one reflecting populist anger, presumably referring to Trump. Rove warned that conservative principles would provide a path to victory while populist outrage alone will end in defeat. |
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| What we published this week: | Monday | Tuesday | Wednesday | Thursday | Friday | Earlier |
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| A.M. Costa Rica's sixth news page |
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| San José, Costa Rica, Wednesday, Oct. 28, 2015, Vol. 16, No. 213 | |||||||||
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U.N. Cuba embargo
vote called unhelpful
By the A.M. Costa Rica wire services
A vote by the U.N. urging the United States to lift its economic embargo against Cuba will not help move things forward, U.S. Ambassador Ron Godard said. The international community voted nearly unanimously Tuesday for an end to the 50-year-old economic, commercial and financial embargo against Cuba. One hundred ninety-one members of the U.N. General Assembly called for Washington to end the measures put in place during the height of the Cold War. Only the U.S. and Israel voted against it. This was the strongest support the world body has expressed for ending the embargo in the 24 consecutive years it has taken up the issue. "We find it unfortunate that despite our demonstrated bilateral progress, the Cuban government has chosen to introduce a resolution that is nearly identical to those tabled in years past," Godard said afterward. "Nevertheless, the United States will not be bound by a history of mistrust." But Cuba’s foreign minister, Bruno Rodriguez Parrilla, urged the United States to lift the embargo, saying it was in the U.S. national interest. “We share the hope that the Congress of the United States would move on to change an inefficient, cruel and unjust policy, anchored in the past, and adopt decisions based on the values and feelings of its citizens,” he said. Godard told the assembly that fully normalizing relations between the U.S. and Cuba could not be done overnight. It "will require years of persistence and dedication on both sides.” He said that since December, when diplomatic relations with Cuba were restored, the United States has implemented a range of “historic” measures designed to begin normalizing bilateral relations. U.S. and Cuban officials have met in Havana to set a broad agenda for cooperation, he said, adding that those talks have spanned law enforcement, drug trafficking, human rights and climate change. “By the end of the year,” Godard said, “we hope to announce several concrete accomplishments that will benefit both our peoples.” The U.S. came in for robust criticism from leaders of regional blocs in the General Assembly. “It is the most unjust, severe, and longest lasting system of unilateral sanctions ever applied to any country,” said South African Ambassador Kingsley Mamabolo, speaking on behalf of the Group of 77 developing countries and China. “In our opinion, the economic, commercial and financial blockade imposed on Cuba is contrary to the letter, the spirit, principles and purposes of the United Nations Charter and international law,” said Ambassador Diego Morejon, representing the Community of Latin American and Caribbean States. Iran’s ambassador, Gholam Ali Khoshroo, speaking on behalf of the non-aligned movement, said the embargo continued to hurt the Cuban people. “It affects all crucial sectors of the economy, such as public health, nutrition and agriculture, as well as banking, trade, investment and tourism,” he said. The European Union representative, Luxembourg Ambassador Sylvie Lucas, welcomed the reestablishment of diplomatic relations between Washington and Havana, but noted that under the new circumstances, the embargo had become even more of an anachronism. Last December, President Barack Obama ordered full restoration of diplomatic relations with the island nation. He also eased some travel restrictions, but only Congress can lift the 56-year-old embargo. |
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| From
Page 7: Budget pact seen as job boost in U.S. By the A.M. Costa Rica wire services
White House economic officials say a tentative budget agreement with Congress could boost job creation by 340,000 workers next year and even more in the future. Jason Furman, chaiman of the Council of Economic Advisers, writes the two-year bi-partisan budget agreement "reduces the recent policy uncertainty that weighed on economic growth." The deal follows weeks of negotiations and averts the economic consequences that could come from the threats of default on government debt or a partial shutdown of government operations. The deal comes as top officials of the U.S. central bank are meeting in Washington to consider how soon and how much to raise the key interest rate. Federal Reserve officials are scheduled to announce their decision today. Many economists say faltering U.S. economic growth and low inflation make it unlikely the Fed will raise rates now. Raising interest rates would boost the value of the already strong U.S. dollar. That makes U.S.-produced goods more expensive and hurts exports, and the economic boost they provide. U.S. exports are already being hurt by slowing growth in many foreign markets. Some economic reports published Tuesday were disappointing, including a measure of business investment that fell four-tenths of a percent in September. Less investment in long lasting manufactured goods makes future economic growth less likely. Wells Fargo economic analysts called the report on the factory sector a dud. A separate study of consumer confidence also dropped slightly, perhaps because of a recent slowdown in job creation. Economists watch consumer confidence closely because consumer demand drives most U.S. economic activity. One bright spot in the flurry of economic data came in the housing sector, where prices rose at a steady pace in August from a year earlier. Severe problems in the housing industry were a key reason for the financial crisis, and economists watch the sector closely. |
